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2025-03-31-accounts

Charity registration number 529989 (England and Wales)

THE NEW CHURCH COLLEGE

ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

THE NEW CHURCH COLLEGE

LEGAL AND ADMINISTRATIVE INFORMATION

Charity number 529989
Independent examiner Anthea Grange FCA
Ground Floor, Capricorn House
Capricorn Park
Blakewater Road
Blackburn
Lancashire
BB1 5QR
Trustee The General Conference of the New Church
(A company limited by guarantee)
Purley Chase Centre, Purley Chase Lane, Mancetter
Atherstone, Warwickshire, 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 Office 25 Radcliffe New Road, Radcliffe, Manchester, M26 1LE
Banker National Westminster Bank plc, Cheetham Hill, Manchester
Branch, 64 Bury Old Road, Manchester, M8 5NW
Investment Manager RBC Brewin Dolphin
100 Bishopsgate, London, EC2N 4AA
Permanent Endowment An investment fund the investment policy of which is overseen
by the Trustee

THE NEW CHURCH COLLEGE

CONTENTS

Page
College Council report 1 - 6
Independent examiner's report 7
Statement of financial activities 8
Balance sheet 9
Notes to the financial statements 10 - 20

THE NEW CHURCH COLLEGE

COLLEGE COUNCIL REPORT FOR THE YEAR ENDED 31 MARCH 2025

This Report covers the work of the College Council for the year ended 31 March 2025. The New Church College uses the working name of The Swedenborg Open Learning Centre [SOLCe] and is based at Wellspring House.

The accounts have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the College's governing document, the Charities Act 2011 and “Accounting 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 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 2024, October 2024 and January 2025. There was also an AGM in July 2024. This was held at Wellspring House.

Membership and attendance at meetings were as follows:

Council Members Council AGM
meetings (July)
Mr C Chambers, President 3 1
Mr RJ Nicholls, Treasurer 3 1
Ms Gwendolen Rowe, Secretary 3 1
Revd ME Duckworth 3 1
Dr P Isherwood 2 1
Mr R Kennion 3 1
Mr S Kennion 3 1
Revd MW Stanley 3 1

The Administrator, Melanie Bennett, attended 2 full Council meetings (3 possible) by standing invitation. The Leader of Education, Revd Robin Wooldridge attended 3 full Council meetings (3 possible) by standing invitation.

Mrs Sue Chesworth (Conference Council Member) attended 3 meetings (3 possible) by standing invitation.

1.2 Attendance at the Annual Meeting

The 160th Annual Meeting of Governors of the New Church College was held at Wellspring House, on Saturday 6th July 2024 with an attendance of 13 Governors and 4 guests/friends.

2. EMPLOYEES

The New Church College currently employs 1.27 full time equivalent (FTE) staff:

Name Job Role Hours FTE
Revd Robin Wooldridge Leader of Education 20 0.5
Melanie Bennett Administrator 35 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 consultancy basis to assist with module writing and delivery.

THE NEW CHURCH COLLEGE

COLLEGE COUNCIL REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

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 awarded an increase, to the salaries of the Leader of Education, Leader of Wellspring House and the Administrator by 3.9% from 1st April 2024. Both the Telephone Line and Broadband Allowance for Conference employees finished at the end of March 2025. It was agreed this would also apply to Revd Robin Wooldridge and the money that would have been received was added to his stipend before the raise was applied.

4. GENERAL REVIEW OF THE WORK OF THE COLLEGE

4.1 Performance of the Charity

The following events have taken place:

4.2 Highlights of the year :

4.3 Future Development

The College has continued to provide online courses. Workshops have been run in the Autumn and Spring and further workshops are planned for Autumn 2025. An Holistic Health and Wellbeing is being planned for August 2025, inviting people to have a stand at the College. In October an Awakening the Inner Self event is being run aimed specifically at newcomers to capture their interest in what we offer. This will include short presentations based on the Workshops and Stepping Stones courses.

4.4 Staff

Leader of Education

Revd Robin Wooldridge has now completed his fourth year as Leader of Education he has continued working on Stepping Stones Courses. He has been considering the area around training and development for those within the Church and also providing a taster day for new people and keeping these as two separate events. As a result he has organised a Summer Gathering following the AGM aimed at those within the church and in October an Awakening the Inner Self event is planned as a day for newcomers to come and find out more about what we offer. Further to these a Holistic, Health and Wellbeing day(similar to the idea of a Mind, Body & Spirit Day) is also being planned for August. He has been in communication with Sibby Mkoba, who is going to be marketing one of the Stepping Stones courses as a test to look at the best way to advertise events and Courses for the College.

Administrator

Melanie Bennett has continued to work on behalf of Wellspring House, splitting her time between home and Wellspring House. She provides administrative support to the College but is also working hard to cover Wellspring House not having a Centre Leader. The Council, as ever, is greatly thankful for her continued work keeping in contact with people and continuing to administer to the College, going above and beyond.

THE NEW CHURCH COLLEGE

COLLEGE COUNCIL REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

Facilities Management

The building and grounds continue to be maintained and we are grateful to the team of volunteers who work tirelessly to ensure this happens. They continue to flourish and the college benefits from their dedicated work. Our thanks must go to all who work in this area to ensure the building and grounds are maintained.

Support Staff

The College continues to benefit from the invaluable work Sue Chesworth does within her role supporting students and working with the youth leaders’ training. We are deeply grateful to her for her continued work in this area.

Volunteers

We value immensely the many lay people who volunteer at the college and provide so much support to the team. We warmly thank them all for their commitment and dedication to the college.

4.5 SOLCe

Sponsored Students

Miss Lynne Griffiths is now in her third year. She is doing really well and is extremely enthusiastic. She is on course with her studies. Other students have been doing some courses alongside her this year which has been very beneficial for her. She is set for ordination at Conference 2025.

SOLCe Students

Between April 2024 and March 2025 there have been 11 people completing Stepping Stones Courses and 1 completing an Introductory 5 Credit Module. 3 Students also study buddied with Lynne on Year 3 Modules.

4.6 Outreach

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 tutors, examiners and module-writers.

4.8 Governors

There are currently: Honorary Governors - 3 Life Governors - 4 Honorary Life Governors - 5 Annual Governors - 38 Making a total of 50 in all.

THE NEW CHURCH COLLEGE

COLLEGE COUNCIL REPORT (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2025

Financial review

5.0 FINANCE

5.1 Annual Accounts

The Treasurer reported a net decrease in resources of £31,534 before capital movements and an exceptional legacy for the year to 31st March 2025. (decrease of £33,351 in 2024). During the year, profits on the disposal of investments of £14,763 were realised with notional losses of £21,155 arising from the revaluation of investments.

The budget for 2024–2025 projected a surplus of £7,000 (before investment management fees) but the actual deficit for the year was £16,187 before investment management fees and a deficit of £31,534 when these are included. The deficit was caused in the main by a one-off cost relating improvements to the fire alarm, security and new fire doors being fitted.

During the year the College received a legacy from the estate of Rev I Russell of £50,000. Currently the College Council is considering how best to allocate this to ensure it is done in a way, that we believe will be, sympathetic with the wishes of both Ian and Patricia.

A budget for 2025-2026 projects a deficit of £7,000 before any adjustments arising on the real and notional gains and losses or charges for managing our investments.

5.2 Investments

The unrestricted funds, including the Jersey Fund, are amalgamated to minimise trading costs and to 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

Objective

The objective of the Charity is stated in the Charity Commission Scheme dated 13th July 1977. This states that the Charity shall promote the education of members of the New Church, with emphasis upon the doctrine and life of the New Church. The land and investments belonging to the Charity shall be held in the name of the 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.

Principle

The New Church College operates to a balanced budget, while recognising that, within each individual year, a 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 income and capital growth. The income is used to fund the day-to-day activities of the College, while the capital growth ensures the continuing viability of The College, enabling it 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-to-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 specific purpose may require the establishment of new endowment funds. When required, these will be set up.

To assist in this objective, The New Church College currently operates the following accounts:

National Westminster Bank account. This is used for meeting day-to-day operating expenses.

THE NEW CHURCH COLLEGE

COLLEGE COUNCIL REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

Investment accounts are detailed below. In addition, the Council and the Trustee have responsibility for the assets as defined on the Balance Sheet, including the property in which the College currently resides.

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 growth remains. (These funds fall under the definition 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 two constituent funds.

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 reserves 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 reserves still meet the requirements of the Charity, and that the policy is still being followed.

THE NEW CHURCH COLLEGE

COLLEGE COUNCIL REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

TRUSTEE’S RESPONSIBILITIES IN RELATION TO THE FINANCIAL STATEMENTS

The charity trustee is responsible for preparing an annual report and financial statements in accordance 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 Wales requires the charity trustee to prepare financial 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:

The trustee is responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enables it to ensure that the financial statements comply with the Charities Act 2011 and the provisions 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 fraud and other irregularities.

Structure, governance and management

The College is a charitable incorporated organisation registered with 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: 5 July 2025

Mr R J Nicholls

Treasurer Dated:5 July 2025

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 2025.

Responsibilities 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.

I report in respect of my examination of the College’s financial statements carried out under section 145 of the Charities Act 2011. In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the Charities Act 2011.

Independent examiner's statement

Your attention is drawn to the fact that the charity has prepared the financial statements in accordance with the relevant version of the Statement of Recommended Practice applicable to charities preparing their financial statements in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has now been withdrawn. I understand that this has been done in order for the financial statements to provide a true and fair view in accordance with UK Generally Accepted Accounting Practice.

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:

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.

Anthea Grange FCA

Ground Floor, Capricorn House Capricorn Park Blakewater Road Blackburn Lancashire BB1 5QR 14 July 2025

THE NEW CHURCH COLLEGE

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2025

Unrestricted Unrestricted
Restricted
funds
funds Endowment
general
Jersey
funds
2025
2025
2025
Notes
£
£
£
Income and endowments from:
Donations and legacies
3
64,690
-
-
Other trading activities
4
6,165
-
-
Investments
5
80,966
13,339
-
Other income
6
259
-
-
Total income
152,080
13,339
-
Expenditure on:
Raising funds
7
11,968
3,379
-
Charitable activities
8
131,606
-
-
Total resources expended
143,574
3,379
-
Net gains/(losses) on investments
11
(1,454)
414
(5,352)
Net incoming/(outgoing) resources
before transfers
7,052
10,374
(5,352)
Gross transfers between funds
22,112
(12,920)
(9,192)
Net movement in funds
29,164
(2,546)
(14,544)
Fund balances at 1 April 2024
1,260,444
445,527
1,722,597
Fund balances at 31 March 2025
1,289,608
442,981
1,708,053		 Total
2025
£
64,690
6,165
94,305
259
165,419
15,347
131,606
146,953
(6,392)
12,074
-
12,074
3,428,568
3,440,642		 Total
2024
£
16,499
3,572
87,884
11,434
119,389
14,290
138,451
152,741
293,231
259,879
-
259,879
3,168,689
3,428,568

The statement of financial activities includes all gains and losses recognised in the year.

The statement 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 AT 31 MARCH 2025

Notes
Fixed assets
Investments
13
Current assets
Debtors
14
Cash at bank and in hand
Creditors: amounts falling due within
one year
15
Net current assets
Total assets less current liabilities
Capital funds
Endowment funds
16
Income funds
Unrestricted funds - Jersey Education
17
Unrestricted funds - general		 2025
£
£
3,376,610
11,209
75,440
86,649
(22,617)
64,032
3,440,642
1,708,053
442,981
1,289,608
3,440,642		 2024
£
£
3,400,722
8,421
42,270
50,691
(22,845)
27,846
3,428,568
1,722,597
445,527
1,260,444
3,428,568		 2024
£
£
3,400,722
8,421
42,270
50,691
(22,845)
27,846
3,428,568
1,722,597
445,527
1,260,444
3,428,568
3,428,568
1,722,597
445,527
1,260,444
3,428,568

The accounts were approved by the College Council on 5 July 2025

Mr C Chambers President

THE NEW CHURCH COLLEGE

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

1 Accounting policies

Charity information

The charity was established by way of a Charity Commission Scheme dated 13 July 1977.

1.1 Accounting convention

The accounts have been prepared in accordance with the College's governing document, the Charities Act 2011 and “Accounting 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 2016). 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 the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn.

The financial statements are prepared in sterling, which is the functional currency of the College. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.

1.2 Going 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 Charitable funds

Unrestricted funds 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 purposes 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 recognised when the College is legally entitled to it after any performance 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.

THE NEW CHURCH COLLEGE

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

1 Accounting policies

(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 direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.

1.6 Fixed asset investments

Fixed asset investments 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 income/(expenditure) for the year. Transaction costs are expensed as incurred.

1.7 Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term 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 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the College's balance sheet when 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, when 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 simultaneously.

Basic financial 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 receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where 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 at amortised cost using the effective interest method.

THE NEW CHURCH COLLEGE

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

1 Accounting policies

(Continued)

Derecognition of financial liabilities

Financial liabilities are derecognised when the College’s contractual obligations expire or are discharged or cancelled.

1.9 Employee benefits

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 committed to terminate the employment of an employee or to provide termination benefits.

2 Critical accounting 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 differ 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 only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3 Income from donations and legacies

Unrestricted Unrestricted
funds funds
2025 2024
£ £
Donations and gifts 14,690 16,499
Legacies 50,000 -
64,690 16,499

4 Income from other trading activities

Unrestricted Unrestricted
funds funds
2025 2024
£ £
Non-charitable trading activities 6,165 3,572

THE NEW CHURCH COLLEGE

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

5 Investments

Unrestricted Unrestricted
funds
funds
general
Jersey
£
£
Use of college premises
446
-
Income from listed investments
80,520
13,339
80,966
13,339
For the year ended 31 March 2024
75,341
12,543		 Total
2025
£
446
93,859
94,305		 Total
2024
£
454
87,430
87,884
87,884

6 Other income

Unrestricted Unrestricted
funds funds
2025 2024
£ £
Other income 259 11,434

7 Raising funds

Unrestricted Unrestricted
funds
funds
general
Jersey
£
£
Investment management
11,968
3,379
11,968
3,379
For the year ended 31 March 2024
Investment management
11,605
2,685		 Total
2025
£
15,347
15,347		 Total
2024
£
14,290
14,290
14,290

THE NEW CHURCH COLLEGE

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2025

8 Charitable activities

Charitable
Charitable
Expenditure Expenditure
2025 2024
£ £
Staff costs 57,187 53,988
Module writing and tutorial expenses 9,465 4,953
Support services 2,907 108
Leaders budgets 501 832
Library including distance learning 35 35
Office equipment - purchases, leasing and maintenance 2,728 2,795
Property expenses - regular 17,893 13,928
Property expenses - other 19,504 40,641
Jersey Fund conference student support 9,337 8,780
Catering and housekeeping 1,742 2,706
Telephone, fax and internet 1,619 993
Stationery and postages 465 616
Council and staff expenses - 1,884
Miscellaneous 4,546 2,744
Bank and interest charges 157 148
Professional fees (excl. JEF) 3,520 3,300
131,606 138,451
131,606 138,451

Professional fees includes payments to the Independent Examiner of £3,520 (2024- £3,300) for examination of the accounts.

9 College Council

None of the College Council (or any persons connected with them) received any remuneration or benefits from the College during the year.

THE NEW CHURCH COLLEGE

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

10 Employees

Number of employees

The average monthly number of employees during the year was:

Administration
Spiritual and education leaders
Employment costs
Wages and salaries		 2025
Number
1
1
2
2025
£
57,187		 2024
Number
1
1
2
2024
£
53,988

There were no employees whose annual remuneration was £60,000 or more.

11 Net gains/(losses) on investments

Unrestricted Unrestricted
Restricted
funds
funds Endowment
general
Jersey
funds
£
£
£
Revaluation of investments
(5,473)
(3,150)
(12,532)
Gain/(loss) on sale of investments
4,019
3,564
7,180
(1,454)
414
(5,352)
For the year
ended 31 March
2024
104,049
40,612
148,570		 Total
2025
£
(21,155)
14,763
(6,392)		 Total
2024
£
295,565
(2,334)
293,231
293,231

THE NEW CHURCH COLLEGE

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

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.

THE NEW CHURCH COLLEGE

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

13 Fixed asset investments

Quoted
investments
UK
Quoted
investments
outside UK
Common
Investment
Fund
Charities
Investment
Fund
£
£
£
£
Cost or valuation
At 1 April 2024
886,260
1,421,542
1,039,147
25,966
Additions
102,153
297,199
-
-
Valuation changes
(11,973)
(5,744)
(2,727)
(1,210)
Fees
-
-
-
-
Disposals
(47,185)
(333,944)
-
-
At 31 March 2025
929,255
1,379,053
1,036,420
24,756
Carrying amount
At 31 March 2025
929,255
1,379,053
1,036,420
24,756
At 31 March 2024
886,260
1,421,542
1,039,147
25,966		 Cash in
portfolio
Total
£
£
27,807 3,400,722
396,390
795,742
-
(21,654)
(17,719)
(17,719)
(399,352) (780,481)
7,126 3,376,610
7,126 3,376,610
27,807 3,400,722
7,126
7,126
27,807

THE NEW CHURCH COLLEGE

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2025

14 Debtors

Debtors
Amounts falling due within one year:
Corporation tax recoverable
Other debtors
Prepayments and accrued income
Creditors: amounts falling due within one year
Accruals and deferred income		 2025
£
270
6,194
4,745
11,209
2025
£
22,617		 2024
£
275
3,268
4,878
8,421
2024
£
22,845

15 Creditors: amounts falling due within one year

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 included as unrestricted income. Any capital gains or losses arising on the assets form part of the fund.

Permanent endowments
Previous year:
Permanent endowments		 At 1 April
2024
£
1,722,597
At 1 April
2023
£
1,582,592		 Transfers
Gains and
losses
At 31 March
2025
£
£
£
(9,192)
(5,352)
1,708,053
Transfers
Gains and
losses
At 31 March
2024
£
£
£
(8,565)
148,570
1,722,597

THE NEW CHURCH COLLEGE

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

17 Unrestricted funds - Jersey

These are unrestricted funds which are material to the College's activities.

Previous year: At 1 April
2024
Incoming
resources
Resources
expended
£
£
£
445,527
13,339
(3,379)
At 1 April
2023
Incoming
resources
Resources
expended
£
£
£
407,332
12,543
(2,685)		 Transfers
Gains and
losses
At 31 March
2025
£
£
£
(12,920)
414
442,981
Transfers
Gains and
losses
At 31 March
2024
£
£
£
(12,275)
40,612
445,527

18 Unrestricted 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 may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.

General funds
Previous year:
General funds		 At 1 April
2024
Incoming
resources
Resources
expended
£
£
£
1,260,444
152,080
(143,574)
At 1 April
2023
Incoming
resources
Resources
expended
£
£
£
1,178,765
106,846
(150,056)		 Transfers
Gains and
losses
At 31 March
2025
£
£
£
22,112
(1,454)
1,289,608
Transfers
Gains and
losses
At 31 March
2024
£
£
£
20,840
104,049
1,260,444

19 Analysis of net assets between funds

Unrestricted
Unrestricted
Endowment
funds
funds
funds
general
Jersey
2025
2025
2025
£
£
£
At 31 March 2025:
Investments
1,228,349
442,155
1,706,106
Current assets/(liabilities)
61,259
826
1,947
1,289,608
442,981
1,708,053		 Total
2025
£
3,376,610
64,032
3,440,642

THE NEW CHURCH COLLEGE

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2025

19 Analysis of net assets between funds

Analysis of net assets between funds (Continued)
Unrestricted Unrestricted Endowment Total
funds funds funds
general Jersey
2024 2024 2024 2024
£ £ £ £
At 31 March 2024:
Investments 1,233,613 445,120 1,721,989 3,400,722
Current assets/(liabilities) 26,831 407 608 27,846
1,260,444 445,527 1,722,597 3,428,568

20 Related party transactions

There were no disclosable related party transactions during the year (2024 - none).