Charlty r•gistration numbgr 629989
THE NEW CHURCH COLLEGE
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

THE NEW CHURCH COLLEGE
LEGAL AND ADMINISTRATIVE INFORMATION
Charlty number
529989
Inde￿nd•nt •xamin•r
Anthea Grange FCA
Douglass Grar4Je
Stanley House
Phoenix Park
Blakewatsr Road
Blackburn
881 5RW
Trust••
Tho General Conference of the New ChuT¢h
IA company limited by guarantee)
Pudey Chase Centre, Pudey Chase Lane, Mancetter
Atherstone, Warni¢kshire, CV9 2Ra
AdmIn1¥tra￿On
General control and management is the ro8ponsibility of the
College Council.
Policy is overseen by Governers. who elect members of the
Coun¢il.
Land and investrnents are held in tho name of the Trusteè.
ObJectlv•
The main objectNe 18 the educat￿n of members of the New
Churth
Ch•rlty Offlc•
25 Radclffe New Road, Rad¢l￿e, Manchester, M26 1LE
B•n*•r
Natv)nal I￿￿tm1n81èr Bank pk. PresfvvKh. Manchester
Inv•Atm•nt Mon•g•r
RBC Brewin Dolphin
12 Smilhfield Sireel. London. EC1A 98D
P•rni•n•nt Endowm•nt
An investment fund the investsnenl policy of which 18 overseen by
the Trustee

THE NEW CHURCH COLLEGE
CONTENTS
Page
College Coundl
Independent examinerfs ret¥yt
statement of financial activities
Balance sheet
10
Note8 lo the flnancial statements

THE NEW CHURCH COLLEGE
COLLEGE COUNCIL REPORT
FOR THE YEAR ENDED 31 MARCH 2023
This Report covers the of the College Ccthol for Ihe year en¢Yed 31 March 2023. The Nv•V Church College
uses the Working name of The Swedenborg Open Leaming Certtre ISOLCel 8fKI is based al Wellspr¢ng House.
The accounts have l)een prepared in accordance wrth the aecwnting pol￿￿$ $01 in note 1 to Il* accounts
and comply wlh the Col*e's governing document, the Chants"e5 Act 2011 and 'Accounting and Reporting by
Charities." Statement ol Recommgnded Practice appluble to tharrties preparing their aC￿UnIS in accordance
wrth the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021. las aff*nded for
accounting periods cc¥nmenong from 1 January 2016)
1. COUNCIL MEMBERSHIP ANDATTENDANCEAT MEETINGS
1 .1 Attendance at Councll Meetlngs
The Council met, in person for one full Council meeting and on Zoom for 2 full Counul meeb'ngs making a lolal of
3 occasions during the year in April 2022, Octob8r 2022 an¢J January 2023. There was also an AGM in July 2022.
Membership and attendance at meetings were as follows".
Councll M•mb•rn
Councll
meetlng*
AGM
(Juty}
Mr C Ch8rnber$. Prewdenl
Mr RJ Nicho118. T￿sSure1
Ms Gwendolen Rowe, Secretsry
Revd M Duckworth
Dr P Ishewod
Mr R Kennion
Mr S Kennion
Revd MW Slanloy
The Admini81r81or, Melank? 8ennett, 8ttended 3 Counul meetings13 possible) by standing inwtatl(￿.
The Leader of EducalN)n, R•vd Rc*4n Wocldrty attended 3 full CouncAI me*ting$ 13 possible) by slandlng
invilalion.
1.2 Attendancè •ttheAnnual Pl••tlng
The 158th Annual Meeting of Governors of the New Church College was hdd at Wellspring House, on Saturday
2nd July 2022 with an 4ttendarKo of 15 GoverN)rs and 9 guestslfriends.
2. EMPLOYEES
The New Church College currenoy employs 1.37 fiJll time equlv¥lent IFTE} ststr.
Namè
Revd Robin Wooldrid
Melanie Bennett
ob Role
Leader ol Education
dministrator
Hours
20
35
FTE
0.87
Linda Sloney undertakes House KeeF4'ng dub.es on a cawal basis. averagw around 2 hours a week.
The work of the Leader ol Education is SUPFrtJtsd by a team of tutors Nvho are engaged on a consultanw b8sis lo
assist with module writing and delivery.
3. EMPLOYEE REMUNERATION
It is the Current policy of the Counul to follow ￿ lead of the Gener81 conferen￿ in detemiining salaries. In line
with this. the Council agreed lo increase the salaries of the Leader of EdUcat￿n and the Administrator by 6%
from 1 st January 2023. It was then agreed to follow this w¢th a lurther 4% above. starting on 1s1 May 2023.

THE NEW CHURCH COLLEGE
COLLEGE COUNCIL REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
4. GENERAL REVIEW OF THE WORK OF THE COLLEGE
4.1 Porformance of the Charity
th the I￿lIding now being open m(¥e events have been tsknng place.
Easter Rally-April 2022
158th AGM 2nd July 2022
Summer Gathering - July 2022
Summer Camp 1- August 2022
Shorecliffe Rise AGM - 2022
Navigating Uncert8inty Awareness Grcwp led by Stephen RusselkLxy in Octobef 2022
Bradford New Church Families weekend.
18+ Weekend- Fèb 2023
4.2 Hlghllghts of th• year..
Miss Lynne Grrffith8 0)mmenced fulktime training for the mmisty In January 2023. She is doing very
Paul Morgan took six months on 8abbakn'¢al leave and is d￿n9 a 9￿month placement with the
Derby New Church.
Rèvd Robin Wooldridge ha8 ¢C￿'nued workiw on Ihe Stepping Stongs courses and S Cours￿ arg now
availablg online. Thefe are also 3 Introduclory courses v*hich are a bridge betsveen the stepping stone
¢ourses and further study. The Web￿1¢ is now up and runnirKJ and appears on approximately 60 other
websites. Mr Stephen Rusgell-Lacy Is wpwrting him with this.
Thè ¢o11oge continues lo reflect ¢)n ￿ future wrth actK>n 9roups looking al the different •re8s of its work.
4.3 Futurg Dgvelopmont
The c¢Jlege has continL￿d to prowde onllne courses. Our plans lo extend the bulldlng remain on hold as there
hasn't been enough use of the building yet. This wll continue to be monitored. Moving forward il Is planned to
hold regulai workshop8 beginning with one on lo lead workshops expethd lo run in the autumn.
4.4 Staff
Lead•r of Edu¢4tlon
Robin Wooldridge has now completed his s•o)nd year as Leader ol Edwtion and he has conllnued lo work on
the Stepping stones courses He has also continued to reach to other organisations and v* ale now in a
partnership wlh the Youth Ministry Univw¥ty. This is an American online study site. There 8re currently 5
members studying wlh them. More advanced courses are also being looked at tco. He has done 8 lol of work lo
update OLbr website which is now actNe and has ccmts'nue(I lo keep il up lo date.
Admlnlstrator
Melanie Bennett has continued to work. behaff of Wdlspllng House, from h¢)me continuing to splrt her time
befv4een har home and We115pring House. She provides administratsvo support lo col￿ge but has also taken
on extra ro￿5 due to the resignation of the Centre Leader. The college is deeply grateful for her liresess work
keeping in conlacl wlth people and continuing lo administer to the colkge. going above and beyoThJ.
Facllltles Managemènt
The Facilities Management team has continued to work hard on the fabric of the buildiry and the grounds. These
onlinue lo flourish and the college is grateful to the team V*tho work b.￿lesS1Y to ensure our be8Utiful building 1$
well cared for and that the grounds stsy well presented have continued lo improve the building. carrying out
maintenance work %thenevef needed. In Dec*mber there was a Ilo¢yJ arKI a bot of time, resources, and finance
has been spent in repairing the dathage lo the building. This is ongting. Ray Kennion. Melanya Bennett, and lan
Hayes worked hard to get the ￿tuation under control. We owe them an enorwnous debt of gratitude for all their
eff¢)rts in this area. Measures are tein9 tsken going fward lo provhle an aLimi monitoring system for our
buildiry. which will letsen tho I￿rden on staff and also ensure any remedial vth 1$ carried out al the earliest
kX)ssible M￿ent.

THE NEW CHURCH COLLEGE
COLLEGE COUNCIL REPORT (CONTINUED
FOR THE YEAR ENDED 31 MARCH 2023
Support Stsff
The college continues lo benefft from the invaluable work Sue Chesworth does wthin her Tole 5UPPOrting
students in working with Ihe youth leaders arKI their training needs. *ncerely thank her for her conbnugd
work in this area.
We cannot forget the amount of hard work Ray Kenn￿￿ does as the c4retaker. His work for the college in this
way is tireless and we ￿allY thank him for this V*Drk. In March, Ray slepped down from his role on the Facilities
Management Team and Iha counul extend th&r gratitude lo him for the many years of service he has 9iven to
the C¢Jlege.
Volunteors
We valu6 greatly the many18y people who volunleer ot ￿ college and provlde 80 much support to the team. We
warmly thank them all for their eommilmenl and dedicati￿ lo the college.
4.$ SOLC•
Sponsored Studènts
During this last year. our student Paul Morgan has taken sabbatlc81 le8ve and 18 now on 81x months, pfacement
al Derby New Church.
Miss Lynne Grkffilhs completed her entry lor ordination and has startad full-lime trainin9 for the Ministy 88 of
January 2023. She 1$ doing really well and is exlremety erthusiaslj'c. She is on course Trmlh her studies.
SOLC? Students
As of May 2023, there are 42 students anrolled on SOLCe eourses. Of these, seven are tutorad on fee-paylng
modules, and 34 are on the free Siepp'ng Stones courses, vthere the study is self-direthd. Our student body
comes from ten different ccmjntries, auoss five conts"n8nls.
4.6 Outrèach
The College advèrtige$ its oFen leaming eourse$ and events programme ¢)n thè website
.These are available lo t1￿ in the general public and to church members. Our endeavour
is lo providg a welcoming sphere for peO￿e to ￿rn, lo come together and lo share in spiritual matters in a safe
environment, albeit this has been on Zoom for MI￿1 of the time. We continue to reach out to the wider communlty
lo build netsvorks and establish new reLitsonships %thilst a￿ayS aiming to ￿aCh a wder audience.
4.7 Relat•d Party
The Trustee, The General Conferenee of the New Church. is a registèred tharty. The General Conference is
enlilled lo a ￿￿0pOrtIon of the nel income resources from the Jersey Fund and provides payroll faalrties for which
the College pay$ o service charge. The College also rel￿$ on the support of Conferer￿e for tutors, examiners
and module wrilers.
4.8 Governors
There are currently..
Honorary Governors- 3
Life Governors- 5
Honorary Life Governors- 5
Annual GovernoTS- 40
Making a total of 53 in all.

THE NEW CHURCH COLLEGE
COLLEGE COUNCIL REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
Flnancl•l rgvlew
6.0 FINANCE
Annu•lAccounts
The TT8asurer reporteij a nel decreaso in re8C￿lceS of £9,6S1 befora capital movements for the y08r to 31$t
March 2023. (increase of £8.352 in 2022}.
Durlng the year. losses on the disposal of inveslments of £35.178 We￿ rnalised Yith notional1088es of £190.554
arising from the revaluation of investments.
Stock market8 at this lime were strugglirrfJ as a resurt of the continuing war in Ukraine. the Fersislenlly high
Inflation rale in the UK along with interest rate nse8 globally. This ￿m$ lo have contributed to bank failures in
the US along with concerns about Credit &wss in Europe. as people remombered the bankiThJ crash in 200819.
All of this c￿trIbuted to a fall in stock market vdues at this lim8. Cleaty it is hoped that over time the valuation of
our Invèstments will improve but we remain subject to e￿norniC factors impacting performarKe of global stsxk
m8rk818.
The budget for 2022-2023 prqé¢t8d a defKit of £1.150 Iboforn Investmwrt management fe8sl bul the actu81
8urplus for the year was £4.281 before investrnenl management fees arKI a deficrt of £9,651 when thesè arn
Included. The main reason for the improvement compared wrth the budgeted figure, was a slightly hIg￿r
investment income than expected Couplod ￿th Iv4￿r 8xpendrtur8 in some areas indudin9 counal 8nd staff
expenditure. There was alK• Some unexpethd irKome éXPWKIth resultsng from thè flood and rglated
Insurance claim.
A budget for 2023-2024 proi¢¢ts 8 defidt of £25.0￿ before ￿ adju8trn￿t$ ari￿n9 on th8 real and notlonal
gains and bsses or charg88 for managing our investments. This defi¢it 18 due In the maln lo work on the roof
which needed to be undgrtaken to proteci the fabrbc of thè building.
During the year the Royal Bank of Canada I'RBC") announced that rt had completed the acquisrtion of Brewin
Dolphln Holdings PLC I'Brewin t)olphin'}, a mulli-8w8rd-wnning wealth management fim). BrevAn Dolphin now
0￿rateS 8$'R8C Brewin Dolphin,, as part of RBC.
Investments
The unrestricted lunds. ItKludlng th? Jersey Fund. are amalgamated to minimi8e trading ¢08ts and b form
larger portfolio. The lunds conkn.nue lo ￿ soparaled from an accwnts.ng wnld-vièw.
Brewin Dolphin, contsnue to folJrAV the agreed investrnent policy 8latement wl)i¢* provid￿ addrtionel flexibility to
th• managers around our Invesb))ent eateg(xl8s to hopefully improve ino)me from our inveslments.
6.0 FUNDING AND RESERVES POLICY AND RISK REVIEW
Oblocllvg
The objective of the Ctt8rrty is stated in Charlty Commlssion Schem• dated 13th July 1977. This slates th8t
the Charity shall promote the education of members of the New Church. wlh emphaws upon the doctrire and life
of the New Church. The land and inveslments belonging lo the Chanty Shall be held in the name of Trustee
he Genefal Confe￿nce of the Ne4V Church). The income from investments held in the name of the Truaee in
accordance wlh the Charity Corymission Scheme dated 13th July 1977. is by agreement paid directly lo Ihe
College.

THE NEW CHURCH COLLEGE
COLLEGE COUNCIL REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
Prlnclple
The New Church Cdlege operates to a bala￿d budge( whilé rwnisirvJ that, wthin exh indrvidual year,
small operating surplus or defiul may arise. Any devth'on from otpthe will be a￿￿ed the Trustse in
advance.
Mon￿$ available lo the College are invested to obtsin both an Irthma arKI capital gmvrth. The ino)me 1$ used lo
fund the day-lo.day activities of the College, %¥thile the ca￿"t81 gr(Ath ensures the continuing vkibilty of The
College, enabling it to meet fijture commitments and *"e(aive$.
Small donations and legacies, which are r¥)t given for a spe¢lfi¢ purpose. will be used at the d18cretlon of the
College Council to fvnd and enhance the daY-1c￿￿Y activitiès of the College.
Sub$lanllal ¢Jonation$ and legacte8 may be added to reseNe$ to fijnd the fijlure development of The College's
Objective. These monies will be added lo the Non-Pemanenl ErKlry•Merrt account at the di8crets.on of the
Treasurer of the College. in cg)nsultsliM wlh the Cwncil. Oon*'ons or legacK88 that are glven for 4 sp¢¢Iflc
purpose may require the 8stablishment of new ¢ndwnenl funds. ￿en required. these %vill be set up.
The handllng of these accounts, the levd ol reserves. and investrnenl pcAicy are subpct to regular review by t
Council at 118 meellngs, and as part of the annual budgetsng exeruse.
To asslst in this obJ'ectw6. Thé Nthv Churth College currently operates th& foll¢Thlng a￿Unts..
National Westrnln8ter 88nk 8¢¢ounl. This is u#ed fc* meettng dty-ttrd•y opgrating expen888.
Investment accounts arè detailed below. In addrtNJn. the Countsl and TnJ8lee have re8pon￿bIIty for the
assets as defined on the Balance Sheet, includiThJ Ihe ryopèrty in which thg Colloge currenty ro8ldes.
Investment 8¢xounl$ opw8ted by Brthmn Dolphln Se￿rtIa•s Ltd.
Depo811 aceounl$. For each of the investment xcounl8 below, Brev•in Oolphln hohj ￿$h bolanc•$ from
the purchase and $•18 of investments and to rneat tran￿￿10n expenses.
Peman6nl en¢Jowmenl account established under thè Charty Commission Scheme. This reslncted fund
Contains th¢ investrnenls as defined in the Scheme. Over timé, the detailed investments have changed
as the rèsutt of sound investment deusions, bul ￿ principle of income together vAth capitsl growth
remains. (These funds lall under the definrtion of Permanent Endowment a8 defined in th8 Charities
Reserves book￿1 CC19, and are therefore not cl839ed as reserves).
In one combined account. the trhti follNlng fund8 are mwntsined with Sq￿rat0 record8 of irKome kept the
Vo constrtuenl funds.
. The non.perrn8nenl endvwment account (y)ntain$ addthnal rthrestricted funds that have been
donated to the Charity over time. These have been invested in Ilne wllh the abtsve prinryple, thus
Hicreasing investment income while allowing additional flexibilty for funt1s as r￿Ulled by Ihe CoutKII.
(These lunds fall under the definthon of Expendable Endo￿nent as deffined in the Charities Reserves
booklet CC19, and are thereth rKJt dassrf*l as reseNesl.
The Jersey Educatsonal Fund was estsblished follov•ing a substantial donation from the Jersey Society,
and the non-￿StriCted fund was estaNished so that the ir￿OMe from the Fund would be allocated lo lh8
College for the development of New Church edLKation. This 15 adrninislered in ling Wth the
'Memor8ndum of Intertt, agreed by the Counuls of the General Conference of the New Church and of
The New Church Cdlege. signed on 8th Apn"11998. (These fvnds fall under the definition of Expendatje
Endowment as definod in the Charities Reserves twklel CC19. and are therefore not daSSrf￿d as
relervesl.

THE NEW CHURCH COLLEGE
COLLEGE COUNCIL REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
Note. IndUd￿ vthin the fu￿18, whlth are a(kninislered cm behaw of the Cdlege by Brev+in Dolphin, are
investments in both the General Conference Pod. which is administered by the General Conference of the New
Church, and the COIF Chanty FurKts admini*ered by CCLA Invesbnent Management Ltd.
This means that The New Church College does not currenty hdd reservè5 as defined in the Chariti88 R88erves
booklet CC19.
This policy is subject to an annual re￿eW as part ol the budgetfng prcttss to ensure thal the r￿1Ve8 8tlll moel
the requirements of the Charity, and that the p)licy is still being Ic41(h￿d.
TRUSTEE'S RESP014818IUTIES IN RELATION TO THE FINANCIAL STATEMENTS
The charity Iru81ee is responsibl6 for preparing an annual report and finanaal 8tstements in awydance with
applicable law and United Kingdom Accounb'ng Slandards (United ￿'ngdoM Generally A¢¢¢pled AccounliThJ
Practice). This activity is managed by the Treasurer l%those ncrfnination for the post must bè approved by the
Trustee81 and with the Collèg6 Counol on behaw of the Trustees.
The law applicable to olariti88 Sn Effjtand and l•V41es requires the charlty tru8te6 to prèpare finwval 818tements
lor eoch finanual period which give a true and fair view of the stale of affairs of the charity and of the incoming
resources and applKats"on of ros￿rCeS of ts chanty that p￿￿. In prepwing the fin8ncKal statements, tr
Iruslee is required to..
Select suitable accoUn￿n9 Wi¢io8 and then apply tr￿88 consi$tenYy.
Observe the methods and principles in the Charities SORP.
Make judgements and estimates that are reasonab￿ and pftthit.
Stale whether appllcable ac¢ounling slandards have been foll¢yA*d. wbject to any material departUfe8
disclosed and explained in thè financial statements.
Prepare the financial st8t6menls on the ongoing corKxn ba￿3 unl688 it is inappropriate to pr88Um that
the chaiity Mll continu• in l)uwne8s.
The trustee is responsible for keeping proper occounling records that disdose wlh reasonable accuracy al any
tlme the Ilnanca81 po$th'on of the tharty and enatAes it to ensure that thè finanoal $t8lemen18 cunply wrth the
Charities Act 2011 and the provisi￿$ of the charlty's consil1uti￿. It is also respongble for safeguardlng the
8ssels of the charity and hence for takirvJ reasonable steps foi the arKI detect￿ of fraL*J and othar
Irregulanttes.
Strncturn, go¥￿￿nCe and manag•m•nt
The College is 8 th8rlt8ble ineorpor*ed organisalily) wi81ered wlh the Charity Commission. whlch is managed
by tho College C(NJncil on behaw of its Iruslee, The General Conference of the New Church.
The College Council who served ￿ring the year to the date of Wgnaiure of th6 finanoal $tatement8 were..
Mr C Chambers
Mr R J Nicholl8
Ms G Rowe
Revd M DuCk￿Y)rth
Dr P IShe￿00d
MT R Kennion
Mr S Kennion
Revd M W Stanley

THE NEW CHURCH COLLEGE
COLLEGE COUNCIL REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
The Colleg• Couwl report was approved on behalf of College Couwl
Mr C Ch•mb•rn
Preside
Dated. ...
Mr R J Nlchol
Treasurer

THE NEW CHURCH COLLEGE
INDEPENDENT EXAMINER'S REPORT
TO THE COLLEGE COUNCIL OF THE NEW CHURCH COLLEGE
I report to the Collgge Council ￿ my exaM￿￿on of ffinan¢fial statern￿ of The New Churth College (the
College) for the yoar erwjed 31 March 2023.
Responslbllltlm and basls of r•port
As the College Counc41 of the College you are responyAble for the pwaralicffl of the finandal 8tatsm8nl$ In
ac£ordanc6 wth the requirement$ of the Char￿8$Act 2011 (the 2011 Act).
I report in respect of my examination of the Col*e's finartial statements earried out under soction 145 of th8 2011
Act. In carrying out my examination I have folltywed am the $¢W.￿ble ￿'re£l￿3 given ty the Charity CornmiSs￿n
under secbon 1451Sllb) of the 2011 A¢1.
Indepondent •xJmlnorfs Ststement
Your attents'on is drawn lo the fact that the dwrity h98 prepared fin•nts4 statements in accordaru V￿th Accounting
•nd Reporting by Charitss prgparing I￿1r accounts in accordance wth the Financial Reports'ng Standard applicable
In the UK and Republic ol Ireland IFRS 1021 in preferenco lo the Accounting and Rewrting by Char￿.es.. Statement
of Recommended Prathce Issued on 1 Awl 2005 i¥ referred to in the extant regulations bul ha8 now been
thdrawn.
l und8r8tand that this has b￿n done in order for financial slalements to provKle a true and fair view in ac￿rd8Th¢¥
wlth Generally A¢¢epted Accounting Prttce effective for reporbng beginNry ¢)n or aft•r 1 January 2015.
I have completed my examinalw. I confimi that no matter8 havè come to my •tt•nbon in o)nnecticn wlth the
examinabon giving me cause to believe that in any matenal resp8¢t'.
accounting r¢¢tyds were not kept in respect of the College a8 required ty 8e¢b'on 130 of the 2011 Act,. or
the financial statements do not ac￿rd wth those records.. or
the financial slalemenl8 do not compty wlh the applicable roquirements concaming the fom and contanl of
accounts set oirt in the Charllies (Aceounts arKI Reports) Regulats'ons 2008 other than any requir8m8nl th81 tha
accounts givé a true fair vth¥ 1$ rK>t a matter conwdereo as part of an independent examination.
I hav¢ no CO￿9rn¥ and have come acro88 no other matters in conneth.on the examlnalon lo whl¢h 8tt8nllon
should bg drawn in this reFQrt in order to enable a woper undefstanding of th8 ac£oLmls to ￿ rgached.
Anthèa Grangg FCA
Independent Examlner
Douglass Grangè
Stanley Hou88
Phoenix Park
Blakewaler Road
Blackbum
BB15RW

THE NEW CHURCH COLLEGE
STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 31 MARCH 2023
Unrostrfcted Unrn8trlct•d Restrlctod
funds
lund$ End0%￿￿￿nt
gMor•l
Jersey
fund¥
2023
2023
2023
Total
Total
2023
2022
Donations and legaae$
Other trading activitie8
Investments
Other income
17.768
4.757
72,890
23,938
17,768
4,757
84.231
23,938
23.055
3.541
75,698
1.128
11.341
Total Incom•
119,353
11,341
130,694
103.422
Ralslng fijnds
11.280
2,632
13.912
15.550
Charitable activi1188
126.433
128.433
79.520
Total r•sources exponded
137,713
2,632
140.345
95.070
Nel gain81{1088eJl Dn Investments
11
(56,6831
134,3711 (134.878) (225,7301
209,359
Not loutgolngvlncomlng ve•otsK
b•for• tran8f•rn
(75.0431
125,8621 (134.878) (235,3811
217,711
Gross transfers bth••n fvnds
17.174
{10.8841
18.290)
Net movom•nt In fund8
(57,8691
{36,5461 (140,986) 1235,3811
217.711
Fund balantss at 1 April 2022
1,236,634
443.878 1,723,558 3,404,070 3,186.359
Fund balanc￿ •t 31 Ma￿h 2023
1.178.785
407.332
1,582,592 3,168,689 3.404,070
The statement of financid activities inchjjes all galns and losses recognwd in Ihe year.
All income and expendrture denve from continuing 8ctiwt*8.

THE NEW CHURCH COLLEGE
BALANCE SHEET
ASAT31 MARCH 2023
2023
Flxed a¥38ts
Investments
13
3.121.608
3,361,578
Current assets
Debtors
Cash al bank and in hand
14
10.775
53,229
22,087
35.085
57,172
Crndltorn: •mounts falllng du• wlthln
ono yo•r
15
(16.9231
114,6801
Net ￿rrent 8S8et8
47,081
42,492
Total a•••t•1088 curr•nt Il•blllti
3.168,689
3,404.070
Capltal fund8
Endowment fund8
In¢om• funds
Unrestricted fvnd8- Jersey Education
Unrestricted fiJnd8- general
1.582.592
1,723.558
407,332
1,178,765
443,878
1.236.634
3.168.889
3.404.070
Th8 accounts were approv8(I by tho Colle90 an ... .
2013
Mr C Chambers
Presld•nt
10-

THE NEW CHURCH COLLEGE
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
Accountlng pollcl•g
Charlty intonnation
The chaiity was established by way of a Chanty commissi￿ Scheme dated 13 Juty 1971.
1.1 Accountlng convèntlon
The accounts have been prepared ift a¢¢ordance wth the Cdlege'8 govemlng doeumeftt, the Charitie5 Act
2011 and "Accounting and Reporbng by Charities.. Statement of Recommended Practi¢e applicable lo
charities preparing their accounts in a￿ordanCe wth the Financ￿1 ReFtht"ng Standard applicable In the UK
and Republic of Ireland IFRS 102). {a$ amended for accounting pericrfjs c0mrne￿ng froffl 1 January 2016}.
The College 18 a Publ1¢ Benefit Eritsty as defined by FRS 102.
The Coll89e has taken advantage of the provis￿8 in the SORP for charibes applylng FRS 102 Updat0
Bullth'n 1 not to prepare a Statement of C88h Fkyws.
The financial $lalements have departed trom the Charltles {Aceourts and Reportsl Regulations 2008 onty to
the extent required to provKle a true and fair ViV•V. This dep8rture ha8 involved follrming the Ststemenl ol
Recommendod Prath"ce for charibes athing FRS 102 rather than the version of the Statement of
Recommended Pr¥tr.￿ whith is referred to in thè ReguIth"ons but has since been wlthdrawn.
The finan¢l81 ¥tslemenls are prepared In st¢rllng, 1$ lh• functional cJJrrency of tho College. Mongtary
amwnts in these financial 8tatement8 are rourthd to Ihg noarest £.
The financial Statements have been prgpared under the hi8torlcal ernt conventicm, Imodlfied to Indude tho
rovoluallon of freehold properties and to indude irweslmenl propertses and certain fina￿al instrunents at foir
valuel. The prfnctpal 8ecounling pgllcies adcyted are 88t out belchv.
1.2 Golng conc•m
Al the lime of approving the financial 8tatement8, the Cdlege Ctxm¢M have a rea&)na￿e expectation that th
College has *deqL￿te resources lo conb.nue in opefalional 8xisterK8 for the foreseeable future. Thus th8
College C¢un¢il conts'nue to adopt the gobng concem basis of ￿tt￿.ng in preparirKJ the fin8noal slalements.
1.3 Charltabl¢ fundi
Unrestricteil lunds are avaiW¢ for uso at thg dtwetion of tho Councll in furtherance of Ihelr
charitable objectives.
R8Stricled funds are subfrect to SFeufie conthtion¥ by donors OS to how they may be used. The purposes and
uses of the reslricled funds are 8et out in the notes to Ihe financial statements.
Endowment fund¥ are subject to 8pedfK condilions by donors that the rapttal must be maintsined by the
College.
1.4 Income
Income is recogni8ed when the College is legally enliled lo it after ￿Y pgrfomiance condltions hav& bèon
met, the amounts can te measured reliabty. it is probat4e that irKome wll be received.
Cash donations are recogAised on rewpt. Other (knat￿8 a￿ recc*3nised once the College has been
notified of the donation, unless perfornance conditi￿$ require deferral of the amount. Int￿le tax recoverable
in relation lo ¢S)nations r￿1Ved under GiftAid or deeds of covenant is recognised al the time of the donation.
Legacies are recognised on receipt or othenmse rf ￿ College has been notified of an impending dislribulion,
the amount is kno￿, and receipt is expected If the amount is not known, the legacy is treated as
conliThJent asset.
11

THE NEW CHURCH COLLEGE
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
Accountlng pollcl8S
{Contlnued)
1.5 Expenditure
Expenditure is recogni8ed on¢e there is a kgal or Con8tnKt1￿ Obl￿atIon lo transfer economic benefit to a
third paty. It is probable trtat a Iransfrr of economic beneffts V￿11 be required In sduement. and the amount of
thè obligation Can be measured rgliabty.
Expenditure Is classified by acts'vty. The costs of each actmty are made up of the totsl of dI[￿t costs and
shared costs. induding Supp￿ costs invofved in undertakino each ath'vty. Dirert costs attribLrtat4e lo a sing
adivity are all¢xated directty to that activty. Shared costs vthich contribute to more than one aclivty and
support costs are not attributable to 8 single actsvty are apports.oned bgtsyeen those activi￿S on a basis
onsislenl wlh the use of resources. Central staff costs are alkjcated on th8 basis of lime spent, and
depreaation charges are allccated on ￿ p￿1)n of thè asset's Use.
1.6 Flx•d ass•t Inv•th•nt•
Flxed 8ssel investments are inilially measured at tranwbon priee exduding transaction wJt$, and are
sub8equenlly measured al tsir value at each reporti'ng date. Change$ in fair value are recogni8ed in nel
Incomellexpendriurel for the year. Transaction costs are expensed as incurr¢d.
1.7 Ca•h and cmh •qufval•nts
Cash and cash equivalents indude c•sh in hand, dew81ts held at call wlth bar&8, olhor st￿rt-t￿M liquid
investments wlh original malurilie8 of trtroe nvxths oT198s, and bank overdraft8. Bank overdrafts are shown
wthin borrowings in current liabilities.
1.8 Flnanclal In8trum•nts
The College has elected to appty provi8ion• ol Secthn 11 '8a8ic Financial In8truments' and Section 12
'Other Finandal Instruments IssLth' of FRS 102 to all of its financial Instruments.
Financial Instrum￿ts are r¢t>)gni8ed in the College's bal8rKe sheet when the College b•come8 paty to the
contractual provisions of ts instrument.
Flnand818$$el$ and li8bilitres are off8el, wrth the nel 8mounts rffesented in financial statements, when
ther• is alogally errforceable nghl lo set off the recrynised 8mcMJr)ts and there VJ an intention to Settle on a nel
basis or lo rèaliso the asset and settle the liability slmultan8tyJ￿y.
88sl¢ Iln•n¢l•l assets
Basic finanoal assels. %thich include debtors and c*h and bank balanc88, are Inltlally measured
transaction price induding transaction costs and are subsequentty carried at am0￿'S8d cost U8lng the effectivo
interest method unless the arr8ngemenl conStrt￿e5 a finanuThJ transactK)n. where the transaction 1$
measured at the presenl value of the fvrture receipts discounted at a market rale of Intere8t. Finanaal 888ets
clas&fied as réceivat40 wthin one year are rM)t amortised.
Basic financlal Ilabllttles
Basic financial liabilits'os. induding creditcws bank loans are inrbalty recognised at transaction prits unles¥
the arrangement constitutes a finatKing transaction, where tho dobt inslwmenl is measured at the present
value of the future Pa￿nents discounted at a market rate of interest Finanaal liabilit￿ da8￿fied as payable
one year a￿ not amorb'sed.
Debt instruments are subsequenty carried at am0￿"Sed ¢¢sL uwng the effecaive Interest rale method.
Trade creditor5 are Obligat￿n$ to pay for goods OT seNces that have been acquired in the ordIn￿Y course of
operations from suppliers. Amounts payable are ¢￿Ssified as cufrent liabilrties rf payment is due within ong
year or less. If not, they are presented as rth-current liabilities. Trade creditors are fecognised initially at
transaction price and subsequently measured al amortisfjd cost the effeth.ve interest meth¢)d.
12-

THE NEW CHURCH COLLEGE
NOTES TO THE FINANCIAL STATEMENTS {CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
A¢¢ountlng pollclos
(Contlnued)
Derncognition of Ilnanclal liabilitses
Financial liabilities are dereccgnised vthen thè College'8 cOntr￿tual l￿￿0t10n5 expire or are di8ch8rged or
cancelled.
1.9 Employ•e benelfts
The cost of any unused holiday enlrfement 1$ recognlw In the period in wl)ich the employee'8 8ervic88 are
received.
Temiinalion beneffts are recognlsed Immediatety as an expense %then the College is demonstrably committed
to lerminale the employment of an empweo iy to provlde lemlnation bonefft$.
Crttl¢•l a¢¢oyntlng o•tlmat•8 and Judg•m•nts
In the application of the Cdlege's aCCo￿tIng policaes. thè Colbay Council are required lo make iudgem8nt8.
68tfimatè8 and assumptions about the carrying amount of •￿ets and liabilth'es that are not readily 8PP8renl
from other Sources. The estimates and as6coated assumptNJns arè bas8d on hislorical experience and other
factors Ihal aro ¢onsidered to be rdevanl. A¢￿￿1 resum8 may dthf from these estsmates.
The estlmates and uThJ8rlylng 038umptioM are revlewed on an ongoiThJ b88i8. Rw8K)n8 to accountlng
estsmates 8r8 recogni¥ed in th• peric41 in which the estimate Is revised where the revi&on affects cnly th81
period, or in the period of the revision and fulure penods where the revision affects tjoth current and future
penods.
Don•tloM and l•gacle•
Unmtrlct•d Unrn8trlct•d
fund$
funds
goneral
g¢nèral
2023
2022
Dc*tation$ and g
17,768
23,055
Oth•r tradlng Jctlvltl
UnMtrlct•d Unr••trlGtgd
fund•
fund8
general
genernl
2023
2022
Fee8
4,757
3,541
13-

THE NEW CHURCH COLLEGE
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
Inv•stments
Unmtricted Unrestrlcled
funds
funds
general
Jtrsoy
Totsl
2023
Total
2022
U80 of college premi888
In￿me frc¥n listsd Inve*ment8
318
75,380
72.200
11.341
83,541
72,890
11.341
84.231
75,698
For tho y•ar •nd•d 31 March 2022
65.571
10.127
75,698
Oth•r Incom•
Vnmtrfctsd UnMtrlct•d
fvnds
fund•
g•n•ral
genernl
2023
2022
Other In¢omo
23,938
1,128
Ral•lng lund•
Unmlrfctsd Unrn•trlcted
funds
nds
Jerw
Tot41
2023
Total
2022
11,280
2.832
13,912
15.550
11.280
2.632
13.912
15,550
For thg ye•r ended 31 March 2022
Investmgnt management
12.627
2,923
15,550
14-

THE NEW CHURCH COLLEGE
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
Chaittable actlvltles
Charltable Charltable
Exp•ndlturo Expondlture
2023
2022
Staff
Module ￿ting and lui￿al expenses
Support services
Lgaders budgets
Library including distance leamlng
Office equlpmenl- purchases. lea8ing and mwntenance
Propety expenses- regular
Propgty expen￿S- other
Jersey Fund confefence student supwt
Catenng and housekewng
Tolephone, fax and inlemet
Stslio￿ry and poslages
Council and Staff expenM$
Mi$¢ellaneous
Bank and interest charges
Professlonal fees (excl. JEFI
Other charitable exponditure
50.729
3,242
51
1.512
85
2,838
10,010
41,595
7,939
2,341
351
554
109
2,735
7,887
3.892
7,089
- il
578
880
262
1,853
1,447
132
3,400
80
130
1.000
321
567
4,162
158
3.300
126,433
79,520
128.433
79,S20
Profesalonal fees includes payments to the Independent Examiner of £3.30012022- £3,300) for examlnalion
of the accounts.
College Councll
N¢)ne of the College Council ((Y any per¥ons wingcted with them) receNed any remunerati￿ or t￿efits
from the Colleg¢ duriThJ the year.
1s-

THE NEW CHURCH COLLEGE
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
10 Employ•o5
Numb•r of èmpty￿5
The average monthly number of employees durirwj the year was..
2023
Numb•r
2022
Numb•r
Administration
Spirflu81 and ¢duCati￿ loaders
Employm•nt costs
2023
2022
ge8 and 8alarie8
50,729
There were no employms whose annual remuneratth £60,000 or mor•.
11 galnsl{los¥H) on Inve•tm•nts
unr••trI￿ UnMtrlct•d RHtrlct•d
fund•
fund• End0￿￿•nI
g•nw•l
J•r
fund•
Totsl
2023
Totsl
2022
Revaluatlon of Investments
Gainll108sI on Sale ol investments
(51,155)
15,528)
{29,4691 (109,9301 1190.5541
14.902
{24.746
135,1761
208,521
2,838
($8,883)
(34.371) {134.876) {225,7301
209.359
For th• year
onded 31 March
2022
89.552
21.001
98,806
209.359
16-

THE NEW CHURCH COLLEGE
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
12 Taxatlon
The charity is exempl from lax on income and gains falling w￿thin secth)n S05 of the Taxes Act 1988 or seth'on
252 of the Taxation of Chargeable GainsAct 1992 to the extent these are aP￿led lo its charitable objects.
17-

J*
Ifj
o*tri
o•)*
o (r* <0
a)

THE NEW CHURCH COLLEGE
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
14 DelAorJ
2023
2022
Amounts falllng due wlthln on• yur.
CC￿)ratIOn tax recoverable
Other debtors
Prepayment8 and ac£ru8d income
350
5.862
4,563
1,300
19,213
1.574
10.775
22,087
10 Cr•dltor¥: •mounts f•lllng du• wlthln one y•4r
2023
2022
Accruals and d8ferrgd i￿Nn8
16.923
14,680
19-

THE NEW CHURCH COLLEGE
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
17 R•lat•d party tramactions
The￿ were no disdosable r*led paty transacti￿5 dlmng the year12022- norn).
-21