Charfty registration number $29989
THE NEW CHURCH COLLEGE
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

THE NEW CHURCH COLLEGE
LEGAL AND ADMINISTRATIVE INFORMATION
Charity number
529989
Independent examiner
Anthea Grange FCA
Ground Floor, Capricorn House
Capricorn Park
Blakewater Road
BlaGkburn
Lancashire
BB15QR
Tru8tse
The General Conference of the New Church
(A company limited by guarantee}
Purley Chase Centre, Purley Chase Lane, Mancetter
Atherstone, Warwid(shire, CV9 2RQ
Administration
General control and management is the responsibility of the
College Council.
Policy is overseen by Governors, who elect members of the
Council.
Land and investments are held in the name of the Trustee.
Objective
The main objective is the education of members of the New
Church
Charity Offic
25 Radcliffe New Road, Radcliffe, Manchester. M26 1 LE
Banker
National V*lestminster Bank plc. Prestwich, Manchester
Investment Manager
RBC Brewin Dolphin
12 Smithfield Street, London, EC1A 9BD
Pemianent Endowment
An investment fund the investment policy of which is overseen by
the Trustee

THE NEW CHURCH COLLEGE
CONTENTS
Page
College Council report
Independent examinerfs report
Statement of financial activities
Balance sheet
Notes to the financial statements
10-20

THE NEW CHURCH COLLEGE
COLLEGE COUNCIL REPORT
FOR THE YEAR ENDED 31 MARCH 2024
This Report covers the work of the College Council for the year ended 31 March 2024. The New Church College
uses the working name of The Swedenborg Open Learning Centre ISOLCe] and is based at Wellspring House.
The accounts have been prepared in accordance with the accounting policies set out in note 1 to tlp accounts
and comply with the College's governing document, the Charities Act 2011 and "Accounting and Reporting by
Charities.. Statement of Recommended Practi￿ applicable to charities preparing their accounts in accordance
with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (as arrEnded for
accounting periods commencing from 1 January 2016)
1. COUNCIL MEMBERSHIP AND ATTENDANCE AT MEETINGS
1 .1 Attendance at Council Meetings
The Council met, in person for one full Council meeting and on Zoom for 2 full Council meetings making a total of
3 occasions during the year in April 2023, Odober 2023 and January 2024. There was also an AGM in July 2023.
This was held at Wellspring House.
Membership and attendance at meetings We￿ as follo)NS'.
Council Members
Councll
meetlngs
AGM
(July
Mr C Chambers, President
Mr RJ Nicholls, Treasurer
Ms Gwendolen Rowe, Secretary
Revd M Duckworth
Dr P Isherwood
Mr R Kennion
Mr S Kennion
Revd MW Stanley
The Administrator, Melanie Bennett, attended 3 full Council meetings {3 possible) by standing invitation.
The Leader of Education, Revd Robin Wlooldridge attended 3 full Council meetings {3 possible) by standing
invitation.
Mrs Sue Chesworth (Conference Council Member) attended 2 meetings (2 possible) by standing invitation.
1.2 Attendance at the Annual Meeting
The 159th Annual Meeting of Governors of the New Church College was held at Wellspring House, on Saturday
1st July 2023 with an attendance of 12 Governors and 4 guestslfriends.
2. EMPLOYEES
The New Church College currently employs 1.37 fv11 time equivalent {FTE) staff..
Name
Revd Robin Wooldridge
Melanie Bennett
ob Role
Leader of Education
Administrator
Hours
20
35
FTE
0.87
Linda Stoney undertakes House Keeping duties on a casual basis, averaging around 2 hours a week.
The work of the Leader of Education is supported by a team of tutors who are engaged on a consulta ncy basis to
assist with module writing and delivery.

THE NEW CHURCH COLLEGE
COLLEGE COUNCIL REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
3. EMPLOYEE REMUNERATION
It is the current policy of the Council to follow the lead of General Conference in determining salaries. In line with
this, the Council made an increase to the salaries of the Leader of Education and the Administrator by 4¥0 from
1 st May 2023. An increase of 4010 has been agreed and approved from 1 st April 2024.
4. GENERAL REVIEW OF THE WORK OF THE COLLEGE
4.1 Perfomiance ofthe Charlty
IAfith the building now being open more events have been taking place.
Easter Rally- April 2023
Committee of Ministers - May 2023
NCYAAGM- June 2023
159th AGM - July 2023
Summer Gathering -July 2023
Summer Camp 1- August 2023
18+ group - September 2023
How are you doing? How is your Soul?. September 23
Adventure into Lower Earth - October 23
Youth Committee weekend - December 23
Christmas Gathering - December 23 - held at Kearsley New Church
18+ weekend February 24
Journey into Lower Earth- February 24
Adventure into Lower Earth - March 24
4.2 Hlghllghts of the year-
Ms Lynne Griffiths continues full time training for the ministry and is in her second y8ar. She is doing
very well and is very enthusiastic.
Paul Morgan has resigned from his Iraining.
Revd Robin Wooldridge has continued working on the Stepping Stones courses and courses continue to
be taken up. There are also three introductory courses which are a bridge be￿een the Stepping Stone
courses and further study. We have had one person express interest in doing a paid course. Mr
Stephen Russell-Lacy is supporting him with this.
The college has now run sets of workshops with some success, particularly with Revd Michael
Stanley's AdventurelJourney into Lower Earth.
4.3 Future Development
The college has continued to provide online courses. Workshops have been run successfully in the hlrtumn and
Spring and four further workshops are planned for Autumn 2024. Mrs Karin Baynes has been r&writing the
Pathway to Vtholeness Course which will be ready in 2025 for Ms Lynne Griffiths to do as part of her training.
4.4 Staff
Leader of Educatlon
Robin Wooldridge is now completing his third year as Leader of Education and is continuing to work on Stepping
stones courses. He has continued to reach out to other organisations and we are now in partnership with the
Youth Ministry University. It is an American online study site. Five members have studied with them so far. More
advanced courses are also being looked at too. He continues to update the website.
Admlnlstrator
Melanie Bennett has continued to work, on behalf of Wellspring House, from home continuing to split her time
be￿een home and Wellspring House. She provides administrative support to the college but is also working
hard to cover the colleg8 not having a Centre Leader. The college are deeply grateful for her tireless work
keeping in contact with people and continuing to administer to the college, going abov8 and beyond. In
consultation with Mr Peter Isherwood she has spent a lot of time updating the Fire and Safety procedures for the
college which has demanded a tremendous amount of her time and the college is extremely grateful to her, and
to Peter, for the additional work that has been put in.

THE NEW CHURCH COLLEGE
COLLEGE COUNCIL REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
Facllltles Management
Due to the floods last year the decision was taken to introduce early waming systems for fire and other disasters
and a new security warning system has now been deployed.
The counal also approved the replacement of the roof which was in need of exiensive work.
The Facilities Management team continue to work hard to maintain the fabric of Ihe building and grounds. These
continue to fflourish and the college is grateful to the team who work tirelessly to ensure our beautiful building is
well cared for and that the grounds stay well presented. We have continued to improve the building carrying out
maintenance work as needed.
Our thanks must go to all who work in this area to ensure the building and grounds are maintained.
Support Staff
The ￿llege continues to benefit from the invaluable work Sue Chesworth does within her role supporting
students and in working with the youth leaders, training. We sincerely thank her for her continued work in this
area.
Volunteers
We value greatly the many lay people who volunteer at the college and provide so much support to the team.
INe warmly thank them all for their commitment and dedication to the college.
4.5 SOLCe
Sponsored Students
In March Paul Morgan resigned as an ordination student to SOLCe. He is going to the USA in the S￿nrner to
study at Bryn Athyn to do ordination training.
Ms Lynne Griffiths is now in her second year. She is doing really well and is extremely enthusia&ic. She is on
track with her studies. She has been doing some courses outside of SOLCe. She is set for ordination at
Conference 2025.
SOLCe Students
As of March 2024, there are 38 students enrolled on SOLCe courses. This includes students doing both Stepping
Stones courses, which are self-directed and those doing paid courses. Some students are doing more than one
course. Our student body comes from different countries, across five continents.
4.6 Outreach
The College advertises its open learning courses and events programme on the website www.swedenbor
enlearnin
.or
uk .They are also advertised on Social Media and more recently the workshops have also been
advertised on colourful booklets produced by Miss Gwendolen Rowe. These are available to those in the
general public and to church members. Our endeavour is to provide a welcoming sphere for people to leam, to
come together and to share in spiritual matters in a safe environment. albeit this has been on Zoom for most of
the time. We continue to reach out to the wider community to build networks and lo establish new rdationships
whilst always aiming to reach a wider audien￿.
4.7 Related Party
The Trustee, The General Conference of the New Church, is a registered charity. The General Conference is
entitled to a proportion of the net income resources from the Jersey Fund and provides payroll facilities for which
the College pays a service charge. The College also relies on the support of Conference for tLrtors, examiners
and modultrwriters.
4.8 Governors
Th@re are currently..
Honorary Governors - 3
Lrfe Governors - 5
Honorary Life Governors - 5
Annual Governors- 40
Making a total of 53 in all.

THE NEW CHURCH COLLEGE
COLLEGE COUNCIL REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
Financlal review
5.0 FINANCE
5.1 Annual Accounts
The Treasurer reported 8 net decrease in resources of £33,351 before capital movements for the year to 31 st
March 2024. (decrease of £9,651 in 2023). During the year, losses on the disposal of investments of £2.335 were
realised with notional gains of £295,565 arising from the revaluation of investments.
The budget for 2023-2024 projected a deficit of £25,000 {before investment management fees) but the actual
deficit for the year was lower at £19,062 before investment management fees and a deficit of £33,351 when
these are included. The deficit was caused by a on&off cost relating to the replacement of the roof. The main
reason for the improvement compared with the original budgeted loss was slightly lower expendilure by stsff
against their budgets plus reduced council and staff expenditure.
A budget for 2024-2025 projects a surplus of £7.000 before any adjustments arising on the real and notional
gains and losses or charges for managing our investments.
5.2 Invostments
The unrestricted funds, including the Jersey Fund, are amalgamated to minimise trading costs and kn form a
larger portfolio. The funds continue to be separated from an accounting point-of-view.
Brewin Dolphin. continue to follow the agreed investment policy statement which provided additional flexibility to
the managers around our investment categories to hopefully improve income from our investments.
6.0 FUNDING AND RESERVES POLICY AND RISK REVIEW
Objectlve
The objective of the Charity is staled in the Charity Commission Scheme dat8d 13th July 1977. This states that
the Charity shall promote the education of members of the New Church, with emphasis upon the doctrire and lrfe
of the New Church. The land and investments belonging to the Charity shall be held in the name of Ire Trustee
(The General Conference of the New Church). The income from investments held in the name of the Trustee in
accordance with the Charity Commission Scheme dated 13th July 1977, is by agreement paid directly to the
College.
Princlple
The New Church College operates to a balanced budget, while recognising Ihat, within each individual year,
small operating surplus or deficit may arise. Any deviation from this objective will be agreed with the Trustee in
advance.
Monies available to the College are invested to obtain both an in￿rne and capital groW(h. The income is used to
fund the day-to-day activities of the College, while the capital growth ensures the continuing viabilty of The
College, enabling il to meet future commitments and objectives.
Small donations and legacies, which are not given for a specific purpose, will be used at the discretion of the
College Council to fund and enhance the daY-l￿daY activities of the College.
Substantial donations and legacies may be added to reserves to fund the future development of The College's
Objective. These monies will be added to the Non-Permanent Endowment account at the discretion of the
Treasurer of the College, in consultation with the Council. Donations or legacies that are given for a specrfic
purpose may require the establishment of new endowment funds. Idldhen required, these will be set up.

THE NEW CHURCH COLLEGE
COLLEGE COUNCIL REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
The handling of these accounts, the level of reserves. and investment policy are subject to regular ￿VIeW by the
Council at its meetings, and as part of the annual budgeting exercise.
To assist in this objective. The New Church College currently operates the following accounts..
National Westminster Bank account. This is used for meeting day-to4ay operating expenses.
Investment accounts are detailed below. In addition. the Council and the Trustee have responsibilty for the
assets as defined on the Balance Sheet. including the property in which the College currently resides.
Investment accounts opersted by Brewin Dolphin Securities Ltd.
Deposit accounts. For each of the investment accounts below. Brewn Dolphin hold cash balances from
the purchase and sale of investments and to meet transaction expenses.
Permanent endowment account established under the Charity Commission Scheme. This restricted fund
contains the investments as defined in the Scheme. Over time, the detailed investments have changed
as the result of sound investment decisions, but the principle of income together with capital growih
remains. (These funds fall under the definits.on of Permanent Endowment as defined in the Charities
Reserves booklet CC19, and are therefore not classed as reserves).
In one combined account, the two following funds are maintained with separate records of income kept for the
trNo constituent funds.
The non-permanent endowment account contains additional non-restricted funds that have been
donated to the Charity over time. These have been invested in line with the above principle, thus
increasing investment income while alloviing additional flexibility for funds as required by the Council.
(These funds fall under the definition of Expendable Endowment as defined in the Charities Reserves
booklet CC19, and are therefore not classified as reserves).
The Jersey Educational Fund was established following a substantial donation from the Jersey Society,
and the non-restricted fund was estsblished so that the income from the Fund would be allocated to the
College for the development of New Church education. This is administered in line with the
'Memorandum of Intent, agreed by the Councils of the General Conference of the New Church and of
The New Church College, signed on 8th April 1998. (These funds fall under the definits.on of ExpendatAe
Endowment as defined in the Charities Reserves booklet CC19, and are therefore not classified as
reseDies).
Note. Included within the funds, which are administered on behalf of the College by Brewin Dolphin, are
investments in both the General Conference Pool, which is administered by the General Conference of the New
Church. and the COIF Charity Funds administered by CCLA Investment Management Ltd.
This means that The New Church College does not currently hold reseples as defined in the Charities Reserves
booklet CC19.
This policy is subject to an annual review as part of the budgeting process to ensure that the re*rves still meet
the ￿qUirements of the Charity, and that the policy is still being follovrfed.

THE NEW CHURCH COLLEGE
COLLEGE COUNCIL REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
TRUSTEE'S RESPONSIBILITIES IN RELATION TO THE FINANCIAL STATEMENTS
The charity trustee is responsible for preparing an annual report and financial statements in acccydance with
applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting
Practice). This activity is managed by the Treasurer (whose nomination for the post must be approved by the
Trustees) and with the College Council on behalf of the Trustees.
The law applicable to charities in England and Vlales requires the charity trustee to prepare finarLial statements
for each financial period which give a true and fair view of the state of affairs of the charity and of the incoming
resources and application of resources of the charity for that period. In preparing the financial statements, the
trustee is required to..
Select suitable accounting policies and then apply these consistently.
Observe the methods and principles in the Charities SORP.
Make judgements and estimates that are reasonable and prudent.
state whether applicable accounting standards have been followed, subject to any material departures
disclosed and explained in the financial statements.
Prepare the financial statements on the ongoing con￿rn basis unless it is inappropriate to presume that
the charity will continue in business.
The trustee is responsible for keeping proper accounting records that disclose with reasonable accuracy at any
time the financial p051tion of the charity and enables it to ensure that the financial statements ccvnply with the
Charities Act 2011 and the pravisions of the charity's constitution. It is also responsible for safeguarding the
assets of the charity and hence for taking reasonable steps for the prevention and detection of fraLKI and other
irregularities.
Structure, governance and managament
The College is a charitsble incorporated organisation registered viith the Charity Commission, which is managed
by the College Council on behalf of its trustee, The General Conference of the New Church.
The College Council who served during the year and up to the date of signature of the financial statements were..
Mr C Chambers
Mr R J Nicholls
Ms G Rowe
Revd M Duckworth
Dr P Isherwood
Mr R Kennion
Mr S Kennion
Revd M W Stanley
The College Council report was approved on behalf of College Council.
Mr C Chambers
President
Dated..
MrR
Icholls
Treasurer
Dated..

THE NEW CHURCH COLLEGE
INDEPENDENT EXAMINER'S REPORT
TO THE COLLEGE COUNCIL OF THE NEW CHURCH COLLEGE
I report to the College Council on my examination of the financial statements of The New Church College (the
College) for the year ended 31 March 2024.
Responslbllltle8 and basis of report
As the College Council of the College you are responsible for the preparation of the financial statements in
accordance with the requirements of the Charities Act 2011 (the 2011 Act).
I report in respect of my examination of the College's financial statements carried out under setxion 145 of the 2011
Act. In carrying out my examination I have followed all the applicable Directions given by the Charity Commission
under section 145(5}(b) of the 2011 Act.
Independent exaMine￿S ststement
Your attention is drawn to the fact that the charity has prepared financial statements in accordarrE with Accounting
and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable
in the UK and Republic of Ireland {FRS 102) in preference to theAccounting and Reporting by Charities- Statement
of Recommended Pradice issued on 1 April 2005 which is referred to in the extant regulations but has now been
withdrawn.
l understand that this has been done in order for financial statements to provide a true and fair view in accordance
with Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.
I have completed my examination. I confirm that no matters have come to my attention in connection with the
examination giving me cause to believe that in any material respect-
accounting records were not kept in respect of the College as required by section 130 of the 2011 Act. or
the financial statements do not accord with those records., or
the financial statements do not comply with the applicable requirements conceming the form and content of
arxounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the
accounts give a true and fair view which is not a matter Considered as part of an independent examination.
I have no concerns and have come across no other matters in connection with the examination to which attention
should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
4n¥Kts (,-
Anthea Grange FCA
DOLA IASS
Ground
toor, Capricom H
Capricorn Park
Blakewater Road
Blackbum
Lancashire
BB1 5QR
use

THE NEW CHURCH COLLEGE
STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 31 MARCH 2024
Unrostricted Unrestricted Restrlcted
funds
funds Endowment
general
Jersey
funds
2024
2024
2024
Total
Total
2024
2023
Notes
Donations and legacies
Other trading activities
Investments
Other income
16.499
3.572
75,341
11,434
16,499
3.572
87,884
11,434
17.788
4,757
84,231
23,938
12,543
Totsl income
106,846
12,543
119,389
130,694
Raising funds
11.605
2,685
14,290
13.912
Charitable activities
138,451
138,451
126,433
Total resources •xpended
150,056
2,685
152,741
140,345
Net gainsl{losses) on investments
11
104.049
40,612
148,570
293,231
(225,730)
Net incomingl(outgolng) resources
b•fore transfers
60,839
50,470
148,570
259,879
(235,381)
Gross transfers between funds
20,840
(12,275)
(8,585)
Nat movement in funds
81,679
38,195
140,005
259,879
(235,381)
Fund balances at 1 April 2023
1,178,765
407,332
1,582,592
3,168,689
3,404,070
Fund balances at 31 March 2024
1,260,444
445,527
1,722,597
3,428,568 3,168,689
The statement of financial activities includes all gains and losses recognised in the year.
The ststement of financial activities includes all gains and losses recognised in the year. All income and expenditure
derive from continuing activities.

THE NEW CHURCH COLLEGE
BALANCE SHEET
AS AT31 MARCH 2024
2024
2023
Notes
Flxed assets
Investments
13
3,400,722
3,121,608
Current assets
Debtors
Cash at bank and in hand
14
8,421
42,270
10,775
53,229
50,691
64,004
Creditors: afflounts falling due withln
one year
15
(22.845}
{16,923)
Net current assets
27,846
47,081
Total assets less current liabilitias
3,428,568
3,168,689
Capital funds
Endowment funds
Income funds
Unrestricted funds - Jersey Education
Unrestricted funds - general
16
1.722,597
1.582,592
17
445,527
1,260,444
407,332
1,178,765
3,428,568
3.168.689
The accounts were approved by the College Council on ..
Mr C Chambers
Presld•nt

THE NEW CHURCH COLLEGE
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
Accountlng polieles
Charlty inforniation
The charity was established by way of a Charity Commission Scheme dated 13 July 1977.
1.1 Accounting convention
The accourrts have been prepared in accordan￿ with the College's governing document, the Charities Act
2011 and 'AcGounting and Reporting by Charities: Statement of Recommended Practice applicable to
charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK
and Republic of Ireland (FRS 102)° (as amended for accounting periods commencing from 1 January 2018).
The College is a Public Benefit Entity as defined by FRS 102.
The College has taken advantage of the provisions in the SORP for charities applying FRS 102 Update
Bulletin 1 not to prepare a Statement of Cash Flows.
The financial statements have departed from the Charities (Accounts and Reports) Regulations 2008 only to
Ihe extent required to provide a true and fair view. This departur8 has involved following the Statement of
Recommended Practice for charities applying FRS 102 rather than the version of the Statement of
Recommended practi￿ which is referred to in the Regulations bLrt which has Sin￿ been withdrawn.
The financial statements are p￿pared in sterling. vthich is the functional currency of the College. Monetsry
amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, Imodified to include the
revaluation of freehold properties and to indude investment properties and certain financial instrLments at fair
valuel. The principal accounting policies adopted are set out below.
1.2 Golng concern
At the time of approving the financial statements, the College Council have a reasonable expectation that the
College has adequate resources to continue in operational existence for the foreseeable future. Thus the
College Council continue to adopt the going concern basis of accounting in preparing the financial statements.
1.3 Charltable funds
Unrestricted ￿ndS are available for use at the discretion of the College Council in furtherance of their
charitable objectives.
Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The
purpose5 and uses of the restricted funds are set out in the notes to the financial statements.
Endowment funds are subject to specific conditions by donors that the capital must be maintained by the
College.
1.4 Income
Income is rewgnised when the College is legally entitled to it after any perfonnance conditions have been
met, the amounts can be measured reliably. and it is probable that income will be received.
Cash donations are recognised on receipt. other donations are recognised once the College has been
notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable
in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
Legacies are recognised on receipt or otherwise if the College has been notified of an impending distribution,
the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a
contingent asset.
10-

THE NEW CHURCH COLLEGE
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
Accounting pollcles
(Continued
1.5 Expenditure
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a
third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of
the obligation can be measured reliably.
Expenditure is classified by activity. The costs of each activity are made up of the total of dir&t costs and
shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single
activity are allocated directly to that activty. Shared costs which contribute to more than one activity and
support costs which are not attributable to a single activity are apportioned be￿een those activities on a basis
consistent with the use of resources. Central stsff costs are allocated on the basis of time spent, and
depreciation charges are allocated on the portion of the asset's use.
1.6 Flxed asset Investments
Fixed asset investmen15 are initially measured at transaction price excluding transaction costs, and are
subsequently measured at fair value at each reporting date. Changes in fair value are recognised in net
incomel(expenditure) for the year. Transaction costs are expensed as incurred.
1.7 Cash and cash equlvalents
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-temi liquid
investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown
within borrowings in current liabilities.
1.8 Financial Instruments
The College has elected to apply the provisions of Section 11 'Basi¢ Financial Instruments, and Section 12
'Other Financial Instruments Issues, of FRS 102 to all of Èts financial instruments.
Financial instruments are recognised in the College's balance sheet vthen the College becomes party to the
contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, vthen
there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net
basis or to realise the asset and settle the liability simultsneously.
Basic financlal assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at
transaction price including transaction costs and are subsequently carried at amortised cost using the effective
interest method unless the arrangement constitutes a financing transaction, where the transaction is
measured at the present value of the future reGeipts discounted at a market rate of interest. Financial assets
classified as receivable within one year are not amortised.
Basic financial liabilitles
Basic financial liabilities, including creditors and bank loans are initially recognised at transaction pri￿ unless
the arrangement constitutes a financing transaction, vthere the debt instrument is measured at the present
value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable
within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of
operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one
year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at
transaction price and subsequently measured al amortised cost using the effective interest method.
11

THE NEW CHURCH COLLEGE
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
Accountlng pollcles
{Continued)
Derecognltlon of financlal liabilities
Financial liabilities are derecognised when the College's contractual obligations expire or are discharged or
cancelled.
1.9 Employee beneftts
The cost of any unused holiday entitlement is recognised in the period in which the employee's services are
received.
Termination benefits are recognised immediately as an expense when the College is demonstrably commttted
to terniinate the employment of an employee or to provide termination benefits.
Crlti¢al accountlng estimates and judgements
In the application of the College's accounting policies, the College Council are required to make judgements,
estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent
from other sources. The estimates and associated assumptions are based on historical experience and other
factors that are considered to be relevant. Actual results may drffer from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting
estimates are recognised in the period in which the estimate is revised where the revision affects Lmly that
period, or in the period of the revision and future periods where the revision affects both current and future
periods.
Income from donations and legacies
Unrestrlctsd
funds
2024
Unrestrlcted
funds
2023
Donations and gifts
16,499
17,768
Income from other trading actlvitles
Unrestrlcted Unrestricted
funds
funds
2024
2023
Fees
3,572
4,757
12-

THE NEW CHURCH COLLEGE
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
Investments
Unrestrlcted Unrestricted
funds
funds
general
Jersey
Total
2024
Total
2023
Use of college premises
Income from listed investments
454
74,887
454
87,430
690
83.541
12,543
75.341
12,543
87,884
84.231
For the year endod 31 March 2023
72,890
11,341
84,231
Other Income
Unrestrlcted Unrestrl¢ted
funds
funds
2024
2023
Other income
11,434
23,938
Raising funds
Unrestrlcted Unrestricted
funds
funds
general
Jersey
Total
2024
Total
2023
men
11,605
2,685
14.290
13,912
11,605
2,685
14,290
13,912
Forthe year ended 31 March 2023
Investment management
11,280
2,632
13,912
13-

THE NEW CHURCH COLLEGE
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
Charitable actlvlties
Charitsble Charltable
Expenditure Expenditure
2024
2023
staff costs
Module writing and tutorial expenses
Support services
Leaders budgets
Library including distance learning
Office equipment- purchases, leasing and maintenance
Propety expenses - regular
Propety expenses - other
Jersey Fund conference student support
Catering and housekeeping
Telephone, fax and internet
Stationery and postages
Council and staff expenses
Miscellaneou5
Bank and interest charges
Professional fees {excl. JEF)
Other charitable expenditure
53,988
4,953
108
832
35
2,795
13,928
40,641
8,780
2,706
993
618
1,884
2,744
148
3,300
50,729
3,242
51
1,512
85
2,638
10,010
41,595
7,939
578
880
262
1,853
1,447
132
3,400
80
138,451
126,433
138,451
126,433
Professional fees includes payments to the Independent Examiner of £3,300 {2023- £3,300) for examination
of the accounts.
College Council
None of the College Council (or any person5 connected with them) received any remuneration or benefits
from the College during the year.
14-

THE NEW CHURCH COLLEGE
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
10 Employees
Number of employees
The average monthly number of employees during the year was..
2024
Number
2023
Number
Administration
Spiritual and education leaders
Employment costs
2024
2023
Wages and salaries
53,988
50,729
There were no employees whose annu81 remuneration was £60,000 or more.
11 Net gainsl(losses) on investments
Unrestricted Unrestricted Restrlcted
funds
funds Endowment
general
Jetsey
funds
Total
2024
Total
2023
Revaluation of investments
Gainl(loss) on sale of investments
104,496
(447)
41,009
(397)
150,060
(1,490)
295,565
{2,334)
{190,554)
(35,176)
104,049
40,612
148,570
293,231
{225,730)
For th• year
ended 31 March
2023
(56,683)
(34,371) {134,676)
{225,730)
15-

THE NEW CHURCH COLLEGE
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
12 Taxation
The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section
252 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects.
16-

Co CO
- ¢+
¢f+
U<<>LLCi

THE NEW CHURCH COLLEGE
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
14 Debtors
2024
2023
Amounts falllng dua wlthln one year:
Corporation tax recoverable
Other debtors
Prepayments and accru8d income
275
3,268
4.878
350
5,882
4.563
8,421
10,775
15 Creditors: amounts falling due wlthin one year
2024
2023
Accruals and deferred income
22,845
16.923
16 Endowment funds
Endowment funds represent assets which must be held permanently by the College. Income arising on the
endowment funds can be used in accordance with the objects of the College and is induded as unrestricted
income. Any capital gains or losses arising on the assets fomi part of the fund.
At 1 April
2023
Transfers
Gains and At 31 March
losses
2024
Pemianent endowments
1,582,592
(8.565)
148,570
1,722,597
Prevlous year:
At 1 April
2022
Transfers
Gains and At 31 March
losses
2023
Pemianent endowments
1,723,558
(6,290)
(134,676)
1,582,592
18-

THE NEW CHURCH COLLEGE
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
17 Unrestricted funds - Jersey
These are unrestricted funds vA)ich are material to the College's activities.
At 1 Aprfl
2023
Incoming
resourc8S
Resources
expended
Transfers
Galns and At 31 March
losses
2024
407.332
12,543
(2,685)
(12,275)
40,812
445,527
Prevlous year:
At 1 April
2022
Incoming
resources
Resources
expended
Transfers
Galns and At 31 March
losses
2023
443,878
11,341
(2.632)
{10,884)
(34,371)
407,332
18 Unrestrfcted funds
The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are
not subject to specific conditions by donors and grantors as to how they rnay be used. These include
designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.
Gains and At 31 March
Iossgs
2024
At 1 Aprll
2023
Incomlng
resources
Resources
expended
Transfers
General funds
1,178,765
106,846
{150,056)
20,840
104,049
1,260,444
Pr•vlous year:
At 1 April
2022
Incomlng
resources
Resources
expended
Transfers
Galns and At 31 March
losses
2023
General funds
1,236,634
119,353
(137,713)
17,174
(56,683)
1,178,765
19 Analysls of net assets between funds
Unrestrlcted Unrestricted Endowment
funds
funds
funds
general
Jersey
2024
2024
Totsl
2024
2024
At 31 March 2024:
Investments
Current assetsl(liabilities)
1,233,613
26.831
445,120
407
1,721,989
608
3,400,722
27.846
1.260,444
445,527
1,722,597
3,428,568
19-

THE NEW CHURCH COLLEGE
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
19 Analysls of net assets between funds
(Continued)
Unrestrictod Unrestrlcted Endowment
funds
funds
funds
general
Jersey
2023
2023
Totsl
2023
2023
At 31 March 2023:
Investments
Current assetsl(liabilities)
1,132,590
46,175
407,193
139
1,581,825
767
3,121,608
47,081
1,178,765
407,332
1.582,592
3.168,689
20 Related party transactions
There were no disclosable related paty transadions during the year (2023 - none).
-20-