Charity registration number NIC104482
Company registrntion number N1049168 {Northem Ireland)
BELFAST BIBLE COLLEGE LIMITED
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2022

BELFAST BIBLE COLLEGE LIMITED
LEGAL AND ADMINISTRATIVE INFORMATION
Dlrectors
Dr N C Morrow (Chair)
Prof N D Black
Ms S Graham
Mr P S Hendron
Mr N J8nnings
MrMHPitt
Mrs J Smyth
Prof P Fleming
Mrs L Watson
(Appointed 5 Oclober 2022)
(Appointed 8 Dec8mber 2022)
Prlncipal
James Burnett
(Appointéd 30 May 2022)
Charlty numb•r
NIC104482
Company number
N1049168
Reglstsred offlce
G18nbum House
Glenburn Road South
Dunmurry
BT17 9JP
Auditor
Harbinson Mulholland
Centrepoint
24 Ormeau Avenue
Belfast
Co. Antrlm
Northern Ireland
BT2 8HS
Bankers
Ulster Bank
Andersonstown Branch
Unit G. Westwood Centr8
Belfast
Co. Antrim
BT119BQ
Sollcltorn
Hewitt & Gllpln
8 High Street
Holywood
BT18 9AZ

BELFAST BIBLE COLLEGE LIMITED
CONTENTS
Page
Strategic report
Diredors, report
6-10
Independent auditorfs report
statement of financial activitles
15
statement of financial position
17
Statement of cash flows
16
Notes to the financial statements
18-27

BELFAST BIBLE COLLEGE LIMITED
STRATEGIC REPORT
FOR THE YEAR ENDED 31 AUGUST 2022
The diredors present their strategic report for the year ended 31 August 2022.
What the College doo8
The College provides education services.
The Charity's classlflcatlon
The advancement of Education.
Who the Charlty helps
The charity exists to help the general public but is specifically interested in those who wish to train for growth in
Christian life and s8rvic8, locally and around the world.
How the charlty works
The charity delivers educational programmes to create a welcoming community in which God works to fomi His
people by integrating spiritual, academic and experiential learning rooted in His Word, for growth in Christian life
and service, locally and around the world.
REVIEW OF ACTIVITIES AND FUTURE DEVELOPMENTS
There were net outgoing resources for the year of £73,040 attribulable to unrestricted reserves which now stand at
£1,220,515. In addition, there was net incom8 before transfers for the year of £8.923 attributable to restricted
reserves which now stand at £69.991.
ACHIEVEMENTS AND PERFORMANCE
Progress was made toward fulfilling our purpose in 2021-2022 in the following areas:
Educa
The College offers undergraduate and postgraduate courses validated by the University of Cumbria These courses
provide a suite of vocational theology awards (CertHE, DipHE, BA Theology, Graduate Dip, MA) validated by the
University of Cumbria. Additionally, the college offers a wide range of part time Gour5es in various theological
subjects.
Advancement
i. Recruiting and Enrolment
The number of full time equivalent student5 attending the college for the various degree courses
in the year under review was 83.
In September 2021. the College enrolled 63 {2020-95) undergraduate and O (2020.'4)
postgraduate full time students as well as 7 (2020'.5) undergraduate part tim8, 32 (2020-39) post
graduate part time and O (2020.1) full time Ph.D. students.
Those attending the Colleg8 were from a wide spectrum of denominations. Students attending
the college coma mainly from UK and Ireland with a small number coming from countries from
around the world.
ii. Educational Development
Duting 2021 the College rolled out year 2 of a revalidaled UG programme. This newly revalidated
degree builds on our knowledge and experience and seeks to better serve our students with an
integrated approach across theological disciples and practical service.

BELFAST BIBLE COLLEGE LIMITED
STRATEGIC REPORT
FOR THE YEAR ENDED 31 AUGUST 2022
The College also sought to enhance the support we offer to students, on a joine&up approach
across academic, pastoial and residential support. Feedback from students has been very
positive as to the quality of the support and it has been enwuraging to see students access both
academic support through their Personal Tutor scheme, as well as Pastoral care. This positive
feedback has been echoed in the external survey based NSS that paints an encouraging picture
of College.
The MA (launched in 2018) continues to attract student5 from a wide range of professional
backgrounds as its blended approach serves Iheir educational and professional needs well. This
year our further enhancement of the MA has enabled students to present Iheir dissertation
research proposals in an online seminar.
Alongside our fomial 8ducation, the College offers short courses, created by the College and
accessible to the public at large. This year we continu8d our suite of programmes under the
banner of The Transfomiation Project. The accessibility of these classes with some face-to-face
and some online has worked w811 and resulted in a greater diversity of participants along with
wider net of ¢ontrlbutors to the teaching.
111. Resource Development
The level of charltable donations to general operatlons and speclfic projects continues to support
the College needs. The College is dependent on the generosity of supporters to ensure the future
sustainability of the College. This is supported through a funding group to help support application
to Trusts and uncover new funding possibilit18S.
erations
The College continued its policy of upgrading facilities Ihrough minor capital works and th8 ongoing maintenance
programme on its buildings. During the year £46,550 {2021- £42,877) was spent in this way.
uman Resourc88
The college conllnues to support staff and volunteers, with ongolng tralnlng for our line managers and supportlng
staff.
Outcomes Assessment
The College continues its commitment to providing theologi¢al education at differing acAdemic levels and for
varying study periods depending on the needs of prospective applicants. In the BA in theology from the Univ8rsity
of Cumbria 59 % (2021.. 46%) of students graduated with a 2.1 or above.

BELFAST BIBLE COLLEGE LIMITED
STRATEGIC REPORT
FOR THE YEAR ENDED 31 AUGUST 2022
FINANCIAL REVIEW
The results of the College's activities are contained in the attached financial statements.
Overall a deficit of £66,117 (2021- surplus £47,869> is reported for the year ended 31 August 2022. Unrestrided
Funds r&tumed a deficit of £73,040 compared to a Sufplus of £43,146 in 2021 whilst the corresponding figures for
Restricted Funds were a surplus of £6.923 and a surplus of £4,723 respectively.
Unrestricted Reserves were £1,220,51 S (2021.. £1,293,555) at year end whilst Restrided Reserves were £69,991
(2021: £63,068).
uidit
The College decr8ased its bank balance during the year. Bank balances al year end were £550,764 Compared to
£586.088 at the end of the previous year. This is sufficient cash reserves to meet the College's funding
requirements for slx months without resorting to borrowing from the company's bankers or generating additional
funds.
Income
During the year under review, 83 (2021.. 1221 full time equivalent students att8nded the College completing one or
more of the variety of courses provided by the College. In th8 year to August 2022 fee income for such students
amounted to almost £475,643 (2021: £625,109).
Almost 233 (2021.339) part-time students attended evening class or day release courses generating f88 income of
£41,996 (2021.'£41,352).
Donation income and income from the use of the College's facilitias continue to provide a steady source of
revenue.
nditure
Expenditure may be broken down between that whlch is Incurred directly on educatlon and that which is incurred
on maintaining the College's buildings and infrastructure. Over 85% of the educational costs may be analysed as
employment costs. Personnel and Property costs are the major areas of expenditure wlthln the Indirect or
corporate services area.
The College has been impacted by the steep rise in energy costs as a result of Ihe current cost of living crisls. As
this occurred during the middle of the academic year, we were unable lo recover any additional costs by way of
increased fees - fees being set in advance for each academic year. Al the same time, we identified that Glenburn
House was in serious need of major refurbishment and upgrade. How8ver, the increased Costs of materials and
labour have prohibited the roll out of the work required until additional funding is in place.
led and Desi
nat d Fund
The College also receives donation income from churthe5 and individuals for specific projects. These are all
recorded separately according to their specified use and are maintained in separate funds as follows..
Global Sponsorship Fund
This Fund is used to support undergraduate overseas students who are unable to raise the fees to study at the
College.

BELFAST BIBLE COLLEGE LIMITED
STRATEGIC REPORT
FOR THE YEAR ENDED 31 AUGUST 2022
Assistance is also given for travel, accommodation and OLrt of pocket living expenses for such students. Where a
student is supported by a church, the student is obliged to visit the sponsoring church regularly at weekends to
experience pastoral work in a Northern Ireland church environment. In the year just ended, no (2020.. 2) students
were supported under this stheme.
Student Bursary Fund
This Fund is used lo support students from within the British Isles who would otherwise be unable to meet the
costs of study at the College.
Such students are assessed by a Board sub-committee who bring their
recommendations to the Board as appropriate. During th8 year ending 31 sl August 2022, with the assistan￿ of a
Fund8r we were able to provid8 4 students with a total of £3,000.00 of assistance.
College Building Fund
The College owns all its buildings and has no loans outstanding on its property. This Fund is a Designated rather
than a Restrlcled Fund and is set aside for a Capital project to improve facllities.
Land and Building Fund
The College maintains a designated reserve equivalent to the net book value of its property (land and buildings) to
focus attention on Ihe infrastructure of the College and the need to generate sufficient funds to maintain this
prop8ty. This reserve is made up of the land and buildings which are held for the long term and is not readily
available to meet the ongoing operating costs of th8 College.
RESERVES POLICY
By its nature the college meets expenditur8 from its income and the majority of unrestricted reserves comprises
designated funds. It is the Board's policy lo work towards a position where General Fund rese￿eS as set out in
note 17 are sufficient to meet three months of op8rating costs which amounts to £228,741 without prèjudicing the
ongoing activities of the College. The reserves policy is reviewed annually, and unrestricted General Fund reserves
amount to £269,146 al 31 August 2022. This represents 3.5 months of operating costs of the College. The Board is
continuing to seek lo achieve the reserves target while continuing to deliver the College's objectives by seeking to
budget for a small surplus each year. The total reserves of the College for charitable purposes amounts to
£1,290,506 at 31 August 2022 of which 5°/0 are restricted, 640k are represented by land and bulldlngs and 31 OA are
available for use albeit 9°h of that is designated for future Gapital projects by the Board.
Plan For Future P•rfod$
The Board is cognizant of the challenges facing theological ￿llege5 in a post-pandemic landscape. In 2022-2023,
members strove to achieve strategic objectives (which were agreed to in 2021), with courage, adaptability and
creativty.
Th8 Strategic objectives are..
1. To strengthen the College'5 edur2tional provision and continue to improve Ihe quality of the teaching
and learning experien￿.
2. To enable all of our students to progress in their learning, their per￿nal developfflent and the
maturing of their Christian character, and to help them live out their faith as 21 st ￿ntUry disciples.
3. To rais8 the profile, reach and reputation of the Colle9e locally and intemationalty.
4. To seek to be a prophetic response to contemporary issues facing the churth and society.

BELFAST BIBLE COLLEGE LIMITED
STRATEGIC REPORT
FOR THE YEAR ENDED 31 AUGUST 2022
In addition to nomial operations, other foci were a priority. They induded:
The appointment of a new Principal.
Increasing the College's profile through a series of strategic courses as well as online inputs and Church
engagements.
Increasing the ov8rall long-term financial sustainabilty of the College through the comm8rcialisation of
additional services.
Exploring the College's capacity for E-learning.
Expanding the College's postgraduation leaming platfomi, including additional cour5e5.
This will continu8 into 2022-23.
Regulatory and key perfomanco indlcator8
This year the Colleg8 received the endorsement from QAA as the College continues to maintain academic
standards and enhance th8 quality of student learning opportunities.
App
ved by the Board on 5
and slgned on Its bèhalf by
orro
(Chalr)
Director

BELFAST BIBLE COLLEGE LIMITED
DIRECTORS. REPORT
FOR THE YEAR ENDED 31 AUGUST 2022
The directors present their report and financial statements for the year ended 31 August 2022. The directors
have adopted the provisions of the Statement of Recommended Practice (SORPI Accounting and reporting by
Charities (FRS102) in preparing the Annual Report and financial statements of the company.
STATEMENT OF DIRECTORS, RESPONSIBILITIES
The direclors, who also act as Trustees, are responsible for preparing the Annual Report and financial
stalements in accordance with applicable law and regulation.
Company law requires the dir8Ctors to prepare financial statements for each financial year. Under that law, the
directors have prepared the financial statements in accordance with United Kingdom Accounting Standards
comprising FRS102 The Financial Reporting Standard applicable in the UK and Republic of Ireland, and
applicable law {Uniled Kingdom Generally Accepted Accounting Practice). Under company law the diraclors must
not approve the financial stal8ments unless they are satisfied that they give a true and fair view of the state of the
affairs of the company and of the incoming resources and application of ￿sourCes, induding the income and
expenditure account. of the company for that year. In preparing these financial statements the dlrectors are
required to:
select suitable aGwunting policies and then apply them consistently.,
observe the methods and principles in the Statement of Recommended Pra¢tlce (FRS102).' Accountlng and
Reporting by Charities (2015)-
make judgements and estimates that are reasonable and prudent;
prepare the financial statements on the going concern basis unless It Is inappropriate to presume thal the
company will continue in business: and
slate whether applicable UK Accounting Standards have been followed, subject to any material departures
disclosed and explained in the financial statements.
The directors are responsible for maintaining proper accounting records that are sufficient to show and explain
the company's transactions and disclose with reasonable accuracy at any time, the financial position of the
company and enable them to ensure that the financial statements comply with the Companies Act 2006. They
are also responsible for safeguarding the assets of the company and hence for laking reasonable steps for the
preventlon and detection of fraud and olher irregularities.
STRUCTURE, GOVERNANCEAND MANAGEMENT
Belfast Bible College Limited is a Company limited by guarantee not having a share capital and is incorporated
under the Companies Act 2006. The company is governed by its memorandum and articles of association.
The College is fomially recognised by HM Revenue and Customs as a charitable body under referenc8
XN47242, and is registered with the Charity Commission for Northem Ireland NIC104482. The statutory reliefs
under s505 of the Income and Corporation Taxes Act 1988 are admissible on income subject to compliance with
the temis of s505 of the Act.
Board of Dir8ctors
The Board of Directors is responsible for the review of all activities, approval of budgets and implementation of
future strategy. The Board meets five times per annum. There are three Board sub-committees namely Education
Committee, Human Resources Committee and Finance. Risk and Audit Committee. each subcommittee meet on
a regular basis and report to the Board of Directors.
The Senior Management Team is made up of six staff under the leadership of the Principal and is responsible for
all operational and day to day matters. It recommends key decisions to the Board for approval and will also
provide infomiation and recommendations to the Board sub-wmmittees for consideration and approval in the
relevant operational areas. This Group meets monthly.

BELFAST BIBLE COLLEGE LIMITED
DIRECTORS. REPORT
FOR THE YEAR ENDED 31 AUGUST 2022
The directors who served during the year and up to the date of signature of the financial statements, unless
othefwise noted, were:
Dr N C Morrow (Chair)
Dr M E J Benn8tt (resigned 16 June 2022)
Prof N D Black
Ms S Graham
Mr P S Hendron
Mr N Jennings
MrMHPitt
Mrs J Smyth
Mr D R Wheeler (resigned 16 June 2022)
Mr P Fleming (appointed 16 June 2022)
Mrs Lis8tt8 Watson (appointed 8 December 2022)
Appointment of Dlrectors
Those seNlng as dlrectors are invited by the existing Board of Dlrectors on the ground of their proven ability,
relevant experienc8, and personal interest in the work of the College. Prior to joining the Board each prospe¢tive
member meets with the Chairman. The meeting provides an overview of the College and the role and
responsibilities of each member of the Board. An induction process for new Board members has be8n developed
and is used lo ensure they are familiar with the objectives, activilies. public benefft and risks facing the College. A
Directors Pack for the College is given to each new member when they join and ongoing Iraining Is Pfovided a8
required.
Each member of the Company is also appointed as a director, serves for a sp8cific term, retires by rotation, and
upon retirement is eligible for re-appointment. As the College receives onty limited financial assistance from
public funds, relying upon fees charged to students and upon gifts received from supporters there are no
directors nominated by any public body or outside agency.
None of th8 directors has any beneficial Interest In the Company. All of the directors are members of the company
and guarantee to contribute £10 each In the event of a winding up.
The College employs a principal and other full time and part Ilme teachlng staff, and the day to day operatlon of
the College as a place of Christian education Is delegated to the principal and his staff. However, the Board of
Directors is ultimately responsible for the activities of the College, and are governed by the doctrinal statement
set out in paragraph 3 of the Articles of Association as well as Ihe original objects expressed in the Declaration of
Trust of 81h February 2003.
The College is an independent body and has no constitutional connection with any other college or education
estsblishment.
The professional advisors to the College are set out on the first page of the Annual Report.
During the year we said goodbye to Helen Warnock, our Principal for the last 5 years and wish to record our
thanks to Helen for her contribution to the College. In April we welcomed Rev James Burnett as our new
Principal. James has a very real sense of calling to the College and comes with considerable experience in
theology, mission and pastoral ministry and we also value his leadership skills.

BELFAST BIBLE COLLEGE LIMITED
DIRECTORS, REPORT
FOR THE YEAR ENDED 31 AUGUST 2022
OBJECTIVES AND ACTIVITIES
The purpose of thé College is..
To equip 21 sl century followers of Jesus through theological education that fosters the abilty to communicat8 the
Christian faith intelligently and with Conviction in word and action.
The main adivity of the College continued lo be in the area of delivering educational programmes in keeping with
that purpose. Through this year, we successfully continued to provide courses leading to..
Intemal 3 month, 1 year Certificate & graduate Diploma courses.
3 month Cerknficate, 1 year Certlfi¢ate, 2 year Diploma and 3 year BA in Theology (Universlty of
Cumbria IUOCI valldated courses).
Postgraduat8 2 year Part Time MA In Theology (Universty of Cumbrla [UOC] validated course).
EMPLOYEES
All departrnents within College have regular stsff meetings whereby informatlon is disseminated to and obtalned
from staff by senior management. There are regular meetin95 to facilitate the exchange of this information and
also on the agenda for discussion at these meetings is the Current statistical, quality and budgetary information
for the College.
RISK MANAGEMENT
Risk management is considered by the Board annually but operational oversight rests with the Board Finance.
Risk and Audit Committee who consider risk at each meeting. The College has developed a College Strategic
Risk Register supported by a subsidiary Register of MO￿ minor risks and the risk management process will
continue to develop in the incoming year. The Board has considered the financial and operational risks
associated wilh running the College and considers that it has in place the procedures to manage any such
ongoing risks. The following 18 a summary of the key activities in place to mitigate exposure to risk..
ongolng review of the Strategic Plan and analysis of the market for students who wlsh to oblain fomial
bibl8 based training and a¢creditation',
monitoring of financial information on a monthly basis wlth adequate planning and financial controls in
place.,
an established Education Committee together with robust reporting and Independent quality review
procedures through our accrediting sponsors-
extensive range of policies and procedures to cov6r all aspects of the College activities.
organisational structure which includes provision for deputies to cover key roles and an effective
succession planning process;
robust govemance controls with sufficient management and reporting structures in place: and
frequent assessment of risk to ensure all possible consequences are considered and controls
implemented.

BELFAST BIBLE COLLEGE LIMITED
DIRECTORS. REPORT
FOR THE YEAR ENDED 31 AUGUST 2022
The key risks facing the College are set out in the Corporate Risk Register bul the focus of attention surrounded
the following risks..
maintenan￿ of a high standard of educational qualty and excellence to support academic
achievement and Christian service development among the student population.
Sustainability of funding to support all College activity.
Maintenance of an appropriate physical environment for both staff and students
These risks are manag8d and mitigated through various management operated policies and procedures and
overseen by specific Board Committees in these key areas- Education Committee, Finance, Risk and Audit
Committee and Human Resources Committee. These standing committees are supplemented by ad hoc
committees as and when required to oversee other risks and opportunities as they arise. The Finance, Risk and
Audit Committee also look at 8m8rging risks such as the General Data Protects'on R8gulation to ensure the
College is awar8 of the impact and is planning to mitigate the risk if and when it arises.
PUBLIC BENEFIT
The Board believes that the public benefits from Its actlvltles In the areas of the advancement of religion and the
advancement of education through:
The training of fvll and part time ministers of religion, lay a550ciates and pastoral ministry workers
11. Spiritual fomiation of laity
Teaching and spreading the principles of the Christian religion
Raising awarene55 and understanding of Christian beliefs and practices
The carrying out of missionary and outreach work
iv.
The areas in which the college seeks to achieve this are:.
Through college and hlgher education
Communlty edu¢atlon
Religious education
Vocational training and Ilf&long leaming
The development of Indlvidual capabilities, competencies, skills and understanding
The key beneficiaries are the students who have the opportunity to attend full or part time courses provided by
the college. In addition, the public at large may attend public lectures and part time ￿llege Courses.
The directors confim) they have had regard to the statutory guidanc8 in respect of the Public Benefit
Requir8m8nt published by the Charity Cornrnission for Northem Ireland.
FUNDS HELD AS CUSTODIAN TRUSTEE ON BEHALF OF OTHERS
The charity does not hold any funds as custodian for any other trustee body.

BELFAST BIBLE COLLEGE LIMITED
DIRECTORS. REPORT
FOR THE YEAR ENDED 31 AUGUST 2022
DISCLOSURES OF INFORMATION TO AUDrroRS
To the knowledge and belief of the directors, the directors confirm that there is no relevant information that the
company's auditors are not aware of. They further confirm that they have taken all the steps necessary to ensure
the dir8Ctors are aware of any such relevant information, and to establish that the company's auditors are aware
of such information.
AUDITORS
Harbinson Mulholland have indicated their willingness to continue In office and a resolution conceming their r
appointment will be proposed at the Annual Gen8ral Meeting and to authorise the directors to fix the
remuneration of the auditors for the year ended 31 August 2023.
Approved by the Board on
and ¥lgngd on It• bghalf by
Dr N C Morrow (Chair)
Director
10-

BELFAST BIBLE COLLEGE LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE DIRECTORS OF BELFAST BIBLE COLLEGE LIMITED
Opinion
We have audited the financial statement5 of Belfast Bible College Limited (the 'Company') for the year ended 31
August 2022 which comprise the statement of financial activities, the statement of financial position. Ihe statement
of cash flows and notes to the financial statements, including significant accounting policies. The financial reporting
framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards,
induding Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of
Irgland (United Kingdom Generally Accepted Accounting Practice).
In our opinion, the financial statements:
give a true and fair view of the state of the charitable company'5 affairs as at 31 August 2022 and of its
incoming reSoUr￿S and application of resources, for Ihe year then end8d',
have been properly prepared in accordan￿ wtth United Kingdom Generally Accepted Accounting Practice;
and
have been prepared in accordance with the requirements of the Companies Act 2006,
Basis for oplnlon
We conducted our audit in accordance with International Standards on Auditlng (UK) IISAS (UK)) and appllcab18
law. Our responsibilities under those standards are further described in the Auditorfs ￿SponSIbl1111es for the audit of
the finanryal st8tem8nts section of our report. We are Independent of the Company in accordance wrth the ethical
requirements that are relevant to our audit of the financial statements In the UK, including the FRC'S Ethical
Standard, and we have fulfilled our other ethical responsibilities in accordaD¢e with th8S8 requirements. We believe
that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Conclu8ion8 relatlng to going concern
In auditing the financial statements, we have concluded that the Directors, use of the going concern basis of
accounting in the preparation of the financial statements 15 appropriale.
Based on the work we have performed, we hav8 not identified any material uncertalntles relating to events or
Conditions that, individually or ¢ollectiV8ly, may cast significant doubt on the Companvs ability to continue as a
going concern for a period of at least ￿e1ve months from when the finandal statements are authorised for Issue.
Our responsibilities and th8 responsibilities of the Directors with respect to golng concern are described in the
relevant sections of this report.
Other inforniatlon
The other information comprises the infomiation included in the annual report other than the financial staternents
and our auditorfs report thereon. The Directors are responsible for the other information contained within the annual
report. Our opinion on the financial statements does nol cov8r the other information and we do not express any form
of assurance conclusion thereon. Our responsibility is to read Ihe other information and. in doing so, consider
whether the other information is malerially inconsistent with the financial statements or our knowledge obtained in
the course of the audit, or othewiise appears lo be materially misstated. If we identfy such material inconsistencies
or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement
in the financial statements themselves. If, bas8d on the work we have performed, we conclude that there is a
material misstatement of this other information, we are required to report that fact.
We have nothing to r8POrt in this regard.
Matters on which we are requlred to report by exception
We have nothing lo report in respect of the following matters in relation to whith the Charities (Accounts and
Reports) Regulations 2008 require us to report to you if. in our opinion=
the information given In the financial statements is inconsistent in any material respect with the Directors,
report- or
SLrfficient a¢¢ounling records have not been kept,. or
the financial statements are not in agreement with th8 accounting records- or
wé have not received all the information and explanations we require ft)r our audit.
11

BELFAST BIBLE COLLEGE LIMITED
INDEPENDENT AUDITOR'S REPORT (CONTINUED>
TO THE DIRECTORS OF BELFAST BIBLE COLLEGE LIMITED
Responsibilities of Directors
As explained more fully in the statement of Directors, responsibilities. the Directors are responsible for the
pr8paration of the financial statements and for being satisfied that they give a true and fair view, and for such
intemal control as the Directors determine is necessary to enable the preparation of financial statements that are
free from material misstatement. whether due lo fraud or error. In preparing the financial statements, the Directors
aré responsible for assessing the Company's ability to continue as a going concem, disclosing, as applicable,
matters related to going concern and using the going concern basis of accounting unless the Directors either intend
to liquidate the ¢haritabl8 company or to cease operations, or have no realistic alternative but to do so.
AUdit0￿S responslbilitie8 for the audit of the flnanclal $tatsments
We have been appointed as auditor under secllon 144 of the Charities Act 2011 and report In a¢cordanc8 With the
Act and relevant regulations made or havlng effect ther8und8r.
Our objectives are to obtaln reasonab18 assurance about whether the financial statements as a whole are free from
material misstatement, whether du8 to fraud or e￿or, and to issue an auditor's report that includes our opinion.
Reasonable assurance is a high level of assurance but is not a guarantee Ihal an audit conducted in accordance
with ISAS (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or
error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence
the econornlc declsions of users taken on the basis of these financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in
line with our responsibilities, outlined abov8, to delect material misstatements in r8SP8cI of irregularities, including
fraud. The extent to which our procedures are capable of detecling irr8gularities, including fraud, is detailed below
12-

BELFAST BIBLE COLLEGE LIMITED
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE DIRECTORS OF BELFAST BIBLE COLLEGE LIMITED
Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including
fraud and non-compliance with laws and regulation5, was as follows:
the engagement partner ensured that the engagement team collectively had the appropriate compet8nc8,
capabilities and ski115 to identify or recognise non-compliance with applicable laws and regulations,.
we identified the laws and regulations applicable to the company through discussions with directors andlor
senior management, and from our commercial knowledge and experience of the sector,
We focused on sp8cific laws and regulations which we considered may have a direct material effect on th8 financial
statements or the operations of the company, induding Companies Act 2006, taxation18gislation, data protection,
anti-bribery, employment, environmental and health and safety legislation
we ass8ssed the extent of compliance with the laws and regulations idenlified above through making
enquiries of management and inspecting legal correspondence- and
identified laws and regulations were communicated within the audit team regularly and the team remained
alert to instances of norFcomplIan￿ throughout the audit.
We assessed th8 susceptibility of the company's financial ststements to material misstatement, including obtaining
an understanding of how fraud might occur, by..
making enqulrles of management as to where they consldered there was susceptibility to fraud, thelr
knowledge of adual, suspected and alleged fraud- and
considering the internal controls In place to mitigate risks of fraud and non-compliance with laws and
regulations.,
To address the risk of fraud through management bias and override of controls, we..
performed analytical procedures to identify any unusual or unexpected relationships;
tested journal entries to identify unusual transactions.,
assessed whether judgements and assumptions made in determining the accounting estimates set out in
Note 2 were indicative of potential bias., and
investigated the ratlonale behlnd Significant or unusual Iransa¢tlons;
In response to the risk of irregularities and non-compliance with laws and regulatlons, we deslgned procedures
whlch induded, but were not limlted to,.
• agreeing financial statement disclosures to underlying supporting documentation;
reading the minutes of meetings of those charged wilh governance:
enquiring of management as to actual and potential litigation and claims., and
reviewing correspondence with HMRC and the company's legal advisors;
A further description of our responsibilities is available on the Financial Reporting Council's website at- http$=Il
www.frc.org.uklauditorsresponsibilities. This description foms part of our auditorfs report.
13-

BELFAST BIBLE COLLEGE LIMITED
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE DIRECTORS OF BELFAST BIBLE COLLEGE LIMITED
This report is made solety to the company's members. as a body, in accordance with section 391 of Ihe Companies
Act 2014. Our audit work has been undertaken so that we might state to the company's members those matters we
are required lo state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law,
we do not accept or assume responsibility to anyone other than the company and the company's members as a
body, for our audit work, for this report. or for the opinions we hav8 formed.
Angela Cra
an Isenlor Statutory Auditor)
for and on behalf of Harblnson Mulholland
13123
Chartered Accountants
Statutory Audltor
Centrepoinl
24 Omieau Avenue
Belfast
Co. Antrim
Northem Ireland
BT2 8HS
Harbinson Mulholland Is eliglble for appointment as auditor of the Company by virtue of its eligibility for appointrnent
as auditor of a company under section 1212 of the Cornpanies Act 2006.
14-

BELFAST BIBLE COLLEGE LIMITED
STATEMENT OF FINANCIALACTIVITIES
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 AUGUST 2022
Unrestrictèd Restricted
funds
funds
Total
2022
Total
2021
Notes
Income from:
Donations and legacies
Income from charitable activities
Investhients
106,662
736.494
859
6,950
113,612
736,494
859
106,856
804,089
737
Total in¢omo
844,015
6,950
850,965
911,682
endlture on:
Expendilure on charitable activities
914,965
27
914,992
866,909
Other
1.181
1,181
Total rnsources exp•ndod
916,146
27
918,173
866,909
Net gainsl(losses) on investments
(909)
(909)
3,096
Net movement In funds
(73,040)
6,923
(66,117)
47,869
Fund balances at 1 Septernber 2021
1,293,555
63,068 1,356,623 1,308,754
Fund balan¢08 at 31 August 2022
1,220,515
69,991
1,290,506 1,356,623
The statement of financial activities includes all gains and losses reGognised in the year.
All income and expendliure derlve from contlnulng actlvltles.
The statement of financial activities also complies with the requirements for an income and expendlture account
under the Companies Act 2006.
The notes on pages 18 to 27 form part of these financial statements.
15-

BELFAST BIBLE COLLEGE LIMITED
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 AUGUST 2022
2022
2021
Cash flows from operatlng actlvities
Cash generated from operations
19
lo,￿7
65,980
Investlng activities
Purchase of tangible fixed assets
Investment income r8C8ived
(46,550)
859
(3,297)
737
Net cash u8èd In Investlng activities
(45,691)
(2.560)
Nat cash used In flnanclng a¢tiviti08
Not (decreas•)lin¢roa80 In cash and ¢a8h
oqulvalents
(35,324)
63,420
Cash and cash equivalents at beginning of year
586,088
522,668
Ca$h and cash oquivalants at end of yoar
550,784
586,088
16-

BELFAST BIBLE COLLEGE LIMITED
STATEMENT OF FINANCIAL POSITION
AS Af31 AUGUST2022
2022
2021
Notes
Flxed a$$ots
Tangible assets
Investments
10
11
909,556
14,026
919,989
14,935
923,582
934,924
Current assets
Debtors
Cash at bank and in hand
12
35,961
550,764
29,980
586,088
586,725
616,068
Croditors: amounts falllng due wlthin
one year
13
(219,801)
(194,369)
Net current assets
366,924
421,699
Total a¥8ets loss current liabllllles
1,290,506
1,356.623
Income funds
Restricted funds
Unrestricted funds
General funds
Designated funds
16
69,991
63,068
16
16
234,874
912,601
273,400
1,063,301
1,220,515
1,293,555
1,290,508
1,356,823
The Company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act
2006, for the year ended 31 August 2022, although an audit has been carried out under section 65 of the Charities
Act {Nl) 2008.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006
with respect to accounting records and the preparation of financial statements.
The members have not required the Company to oblain an audit of its financial statements under the requirements
of the Companies Act 2006, for the year in question in accordan￿ with section 476.
These financial statements have been prepared in a¢¢ordance with the provisions applicable to companies subject
to the small companies regime.
Th8 financial statements were approved by the Directors on .. .
orr
(Chair)
MrMHPitt
Trustee
Trustee
Company Registration No. N1049168
17-

BELFAST BIBLE COLLEGE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2022
Accounting policies
Charity inforniation
Belfast Bible College Limited is a private company limited by guarantee in¢orporated in North8rn Ireland. The
registered office is Glenbum House, Glenbum Road South, Dunmury, BT17 9JP.
1.1 ststement of compllance
The financial slalements have been prepared in accordance with the Companies Act 2006 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 amènded for accounting periods commencing from 1 January 2016). The Company is a Public
Benéfrt Entity as defined by FRS 102.
1.2 Ba818 of preparatlon
The financial statements are prepared in sterllng, which is the functional Cu￿encY of the Company. Monelary
amounts in these financial slatements are rounded to the nearest £.
The finan¢lal statements have been prepared In accordance wlth Applicable Accounting Standards In the
United Kingdom. Assets and liabilities are initially re¢ognised at historical cost or tTansaclion value unless
otherwise slated in the relevant accounting policy. The principal accounting policles adopted, which have
been applied con515tently, are set out below.
1.3 Going concern
The charity reported a cash OLrtnow of £35,324 and net operations cash deficit of £68,117 for the year. The
directors have prepared projections and, having considered the circumstances outlined above, are of the view
that they have secured sufficient funding to ensure that the company Can continu8 to trade for the nexi 12
months. For this reason th8y continue to adopt the going concern basis in preparing the financial stalements.
1A Charltable fund$
Unrestricted fvnds are available for us8 at the discretion of the Dlrectors in furtherance of their charllable
obledlves.
Reslrlcted funds are subject to specific conditions by donors as to how they may be used. The purposes and
uses of the restricted funds are set out in the notes to the financial stat8m8nts.
1.S Income
Income is recognised in the period in which the charity is entitled to receipt and the amount can be measured
with reasonable certainty. Sncome is deferred only when the charity has to fulfil conditions before becoming
fully entitled lo it or where the donor has specified that the income is to be expended in a future period.
Grants. including capital grants, from the gov8mrnent and other agencies have been included as income from
activities in furtherance of the charity's objects where these amount to a contract for services, but included as
donations where the money is given in response to an appeal or with greater freedom of use, for example,
government block grants. Donated facilities are included at the value to the chariiy where this can be
quantified and a third party is bearing the cost. No amounts are included in the financial statements for
services donated by volunteers.
1.6 Expenditure
Expenditure is included in the Statement of Financial Activilies on an accruals basis.
Certain expenditure is directly attributable to specific activities and has been included in those cost
categories. Certain other costs, which are attributable to more than one activity, are apportioned across cost
categories on the basis of an estimate of th8 proportion of time spent by stsff on thos8 activities.
18-

BELFAST BIBLE COLLEGE LIMITED
NOTES TO THE FINANCIAL STATEMENTS {CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2022
Accounting policles
{Continued)
1.7 Tangible flxed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation. net of
depreciation and any impairment1055es.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their
useful lives on the following bases-
Land
Ground rents
Buildings
Plant, fixtures and computers
0°
1 /, 20A. 40/0 or 100fi straight line
100/0, 200A, 25 % or 500A straight line
1.8 Fixod a88et Investmants
Fixed ass8t investments are initially me8sured at transaction price excluding transactlon costs, and ar8
subsequently measured al fair value at each reporting date. Changes In falr value are recognised in nel
incom81(expenditure) for the year. Transactlon costs are expensed as Incurred.
1.9 Impalrnient of flxed assets
At each reporting end date, the Company reviews the carrying arnounts of tts tangibl8 assets to determine
whether there is any indication that Ihose assets have suffered an impairment loss. If any such indication
exists, the recoverable amount of the asset is estimated in order to d8termine the extent of the impaimient
loss (if any).
1.10 Cash and ¢a8h aqulvalents
Cash and cash equivalents indude cash In hand, deposits held at Call with banks, other short-term liquid
investments with original maturiti8s of three months or less, and bank overdrafts. Bank overdrafts are shown
within borrowlngs in current liabilities.
1.11 Flnanclal Instruments
The Company has elecled to apply the provisions of Sectlon 11 'Basic Financial Instruments, and Sectlon 12
'Other Financial Instruments Issues, of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the Company's balance sheet when the Company becomes party to
the contractual provisions of the instrument.
Financial assets and liabilities are offset, with Ihe net amounts presented in the financial statements. when
there is a legally enforceable right to set off the recognised amounts and there is an inlention to settle on a
net basis or to realise the asset and settle the liability simultaneously.
Basic financlal assets
Basic financial assets, which in¢lude debtors and cash and bank balances, are initially measured at
transaction price induding 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 re￿IP1S discounted at a market rate of interest. Financial assets
classtfied as receivable within one year are not amorlised.
19-

BELFAST BIBLE COLLEGE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2022
Accounting pollcles
(Continued
Basic linanclal Ilabilities
Basic financial liabilities. induding creditors and bank loans are initially recognised at transaction price unless
Ihe 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 serVi￿S that have been acquired in the ordinary course of
operations from suppliers. Amounts payable are classified as current liabilitl8s if payment is due within one
year or less. If not, th8y are presented as non-¢urrent liabilities. Trade creditors are récognised initially at
transa¢tion price and subsequently measured at amortised cost using the effectiv8 interest method.
Derecognltlon of flnanclal liabilities
Financial liabilits'es are derecognised when the Compan￿8 contractual obllgations expire or are dlscharged or
cancelled.
1.12 Employee beneflts
Termination benefrts are ￿CognISed Immediately as an expense when the Company Is dernonstrably
committed to terminate the employment of an employee or to provide termination benefrts.
1.13 Retlrement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
Crltical accountlng 08timate8 and Judgements
In the appli¢atlon of the Company's accounting pollcies, the Directors are required to make judgements,
estlmates and assumptions about the carrylng amount of assets and liabllitles that are not readily apparent
from other sources. The estimates and as$0¢iated assumptions are based on historical experience and other
factors that are considered to be relevant. Actual results may dlffer from these estimates.
The estimates and underlying assumptions are ￿VIeWed on an ongoing basis. Revisions to accounting
estimates are recognised in the period in which the estimate is revised where the revision affeds only that
period, or in the period of the ￿vision and future periods where the revision affects both current and future
periods.
-20-

BELFAST BIBLE COLLEGE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2022
Critical accounting estimates and Judgements
Icontlnued)
Key sour¢06 of 08tlmatlon uncertalnty
The Directors do not consider there are any material estimates or judgements in these financial statements
other than as set out below.
Tanglble flxed assets
Tangible assets are depreciated over thelr useful lives taking into account residual values where appropriate.
The actual lives of the assets are assessed annually and may vary depending on a number of factors. In
reassessing asset lives factors such as maintenance programmes are taken into account. Residual value
assessments consid8r issues such as the remaining live of the asset and the estimated value in use.
Debtors
Short term debtors are measured at transaction price, less any impairment. Impairment of such debtors
involves some estimation uncertainty.
Donations and legacles
2022
2021
Unrestricted funds
Restricted fvnd5
106,662
6,950
99,106
7,750
113,612
106,858
Income from charftable a¢tlvltio8
2022
2021
Course fees
other student income
Exiemal use of facilities
Other income
517.640
67.796
38.363
112,695
866.461
69,042
21,750
46.836
736,494
804,089
21

BELFAST BIBLE COLLEGE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2022
Invastments
2022
2021
Income from Equity Fund
Interest receivable
564
295
651
86
859
737
Expenditure on charitable actlvlties
2022
2021
staff costs
Depreciation and impairment
other adivities undertaken directly
543,324
55,802
226,673
547,268
54,893
180,586
825,799
782,727
Share of support costs (see note n
Share of govemance costs (see note n
83,160
6,033
78,152
6,030
914,992
866,909
Analysis by fund
Unrestricted funds
Restricted funds
914,965
27
863,882
3,027
914.992
866,909
The charitable activity of Belfast Bible College is to equip students intellectually and spiritually for Christian
witness and service throughout the world. The charity does this by providing training at its premises.
-22-

BELFAST BIBLE COLLEGE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2022
Support costs
Support Governance
C03ts
costs
2022
2021
Office overheads
Advertising
Finance
Informatlon technology
18,635
21,732
5,740
37,053
18,635
21,732
5,740
37,053
16,380
27,690
8,360
25,722
Management
6,033
6,033
6,030
83,160
6,033
89.193
84,182
Analysed between
Charitable activities
83,160
6,033
89,193
84,182
Dlrectors
None of the Dir8dors (or any persons connected with them) received any remuneration or beneffts from the
Company during the year {2021'. none).
Employees
Numbar of employees
Thé average monthly number of employees during the year was:
2022
Number
2021
Number
staff employed
23
23
Employment co$ts
2022
2021
Wages and salari88
Social security costs
Other pension costs
475,343
40,652
27,329
479.310
40.459
27,499
543,324
547,268
The senior management team of the College compiised of 2 members of staff at the start of the period and 2
members of staff at the end of the period. The aggregate remuneration of this group was £82,565 (2021..
£100,218>.
There were no employees whose annual remuneration was £60,000 or rn0￿.
-23-

BELFAST BIBLE COLLEGE LIMITED
NOTES TO THE FINANCIAL STATEMENTS {CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2022
10 Tangible fixed assets
Land Ground rents
Building8 Plart flx1ures
and computer8
Total
Cost
At 1 September 2021
Additions
Disposals
27,568
6,450 1,315,410
24,918
378,989
21,632
(99,94n
1,728,417
46,550
(99,947)
At 31 August 2022
27,568
6,450 1,340,328
300.674
1,675,020
Depre¢latlon and Impalrnwnt
At 1 September 2021
Depreciation charged in the year
Eliminated In respe￿ of disposals
20.080
459,484
23,022
328.864
32,780
(98,766)
808,428
55,802
(98.766)
At 31 August 2022
20,080
482,506
262,878
765,464
Carrylng amount
At 31 August 2022
7.488
6,450
857,822
37,796
909,556
At 31 Augusl 2021
7,488
6,450
855,926
50,125
919,989
11 Fixed asset Investments
Listsd
Investments
Cost or valuation
At 1 September 2021
Valuation changés
14,935
(909)
At 31 August 2022
14,026
Carrylng amount
At 31 August 2022
14,026
At 31 August 2021
14.935
12 Debtors
2022
2021
Amounts falllng due within one year:
Trad8 debtors
Other debtors
Prepayments and accrued income
2,043
8,306
25,612
4,591
6,808
18,581
35,961
29,980
-24-

BELFAST BIBLE COLLEGE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2022
13 Credltors: amounts falling due wlthin onè year
2022
2021
other taxation and social securiiy
oth8r creditors
Accruals and deferred income
14,312
118.840
86,649
12,837
115,249
66,283
219,801
194,369
14 Retiroment benafft schemes
Deflned contribullon schem•8
The Company operates a defined contribution pension schem8 for all qualifying employ88s. Th8 assets of the
scheme are held separately from those of the Company in an independenily adminislered fund.
The charge to profit or loss in respect of defined Contribution schemes was £27,329 (2021: £27,499).
1 S R￿trIcted funds
The income funds of th8 charity include restricted funds comprising the following unexpended balances of
donations and grants held on trust for specific purposes..
Movement In fund8
Income Expanditure Balance at 31
August 2022
Balanca at 1
September
2021
Student bursary fund
Global sponsorship fund
WSF fund
22,959
37,575
2,534
3,000
3,950
25,959
41,525
2,507
(27)
63,068
6,950
(27)
69,991
Restricted funds represent those monies received for a particular purpose as follows:
The Student bursary fund is used to support students from within the British Isles.
The Global sponsorship fund is used to support Overseas students and include assistance with fees, travel
and accommodation and out of pocket expenses.
The WSF (Women's Study Fellowship) fund is used to support students attending this course.
-25-

BELFAST BIBLE COLLEGE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2022
16 Unreslricled funds
The income funds of the charfty Include the following deslgnated funds whlch have b¢&n sel a$Sde out of
unrestricted funds by the trustees for specific purpos8s.'
Movem•nt In funds
Incorn• Exp•nditur•
Transfer
Bala￿* gt
1 S•ptember
2021
GalnB and Balan￿ at
1089•8 31 August
2022
General funds
Deslgnaled ftJnd$ - Capital project
Deslgnaled funds - land and
bulldlngs
307.914 844,015 (916,1461
122.228
9,354
111,250)
1909} 244.228
110,978
863,413
1,896
865,309
1,293,555 844,015 {916,1461
1909> 1,220,515
The unrestricted funds r8pre88nl the fre8 funds of thg Charity and comprisè general funds and funds whlch
have been dgsignaled for partl¢ular purposes.
Genèral Funds - Gener81 Fund8 are available reserves for use In tho future work of th8 Colleg8 and to
mlnlmlse worklng capltal borrowlng, the need for whSch 8rl8e from tlme to tlma, and to cover the deficll of
actlvities In any year arising from short term financl81 pressures.
Capital Project - The Board have designated Income received from bequ&sts in 2014 for 8 capltal prolecl to
impmve student facilities. Such funds are not restricted in nature.
Land and Bulldlngs
The net book value of land and buildings are held as designated funds as they
represent reserves which are not readily avallable for use in the operatlon of the College and are represented
by College property. The transfer represents the depreciation charye for the year borne by th6 General Fund
and funds used to Smprove the College land and buildings.
17 Analysls of n•t a••ot• bgtwgon funds
Unreslrlcted Rostrlctod
2022
2022
Total
2022
Total
2021
Fund balances at 31 August 2022 are
represented by..
Tangible assets
Investrnents
Current assetsllliabilitiesl
909.556
14,026
296,933
909,556
14,026
366,924
919,989
14,935
421,699
69.991
1,220,515
69,991
1,290,506 1,356,623
18 Relatsd party tr8nsactlons
There were no disclos8ble related party transactions during the year (2021.. none).
-26-

BELFAST BIBLE COLLEGE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2022
19 Cash generated from operatlons
2022
2021
(Defi¢it)Isurpus for the year
(66,117)
47,869
Adjustments for..
Investrnent income recognised in statement af financial activities
Loss on disposal of tangible fixed assets
Fair value gains and losses on investmènts
Depreciation and irnpairment of tsnglble tlxed assets
(859)
1.181
909
55,802
(737)
{3,096)
54,893
Movements in worklng capltal..
{Increase)Idecrease in debtors
Increasel(decrease) In veditors
(5.981)
25.432
2,204
(35,153)
Ca8h generatod from operatlons
10,367
65,980
20 Liabillty of member8
The company 15 limited by guarantee and therefore there 15 no share capital. As at 31 August 2022 the
company had eight members (2021: eleven). The liability of the members is limited lo £10 each in the event of
the company being wound up.
-27-