BELFAST BIBLE COLLEGE LIMITED STRATEGIC REPORT FOR THE YEAR ENDED 31 AUGUST2022 The directors present their strateglc report for the year ended 31 August 2022. What the College does The College provides education services. The Charity's ¢las$lfication The advancement of Education. Who the Charity helps The charity exists to help Ihe general public but is specifically Interested in those who wish to train ft)r growth in Christian life and seThice, locally and around the world. How tho charlty works The charity delivers educational programmes lo create a welcoming community in which God works lo fom7 His people by integrating spiritual, academic and experiential leaFnin9 rooted in His Word, for growth in Chrlstian lrfé and seryice. locally and around the world. REVIEW OF ACTIVITIES AND FUTURE DEVELOPMENTS There were net outgoing resoufces for the year of £73,040 attributsbie to unrestricte(I reserves which now stand at £1,220.515. In addition. there was net incomè before Iransfers for the year of £6,923 attributable to reslri¢Aed resepies which now stand at £69.991. ACHIEVEMENTS AND PERFORMANCE Progress was made toward fulfilling our purpose in 2021-2022 in the following area$- Edu The College offers undergraduate and postgraduate courses validated by the University of Cumbria These cx)urses prowde a suite of vocational theology awards (CertHE, DipHE, BA Theology, Graduate Dtp, MA) validated by the University of Cumbria. Additionally, the college offers a wide range of part time courses in various theological subjects. Advancement l. Recruiting and Enrolment The number o* full time equival8nt students atterKling the college for the variou5 degree courses in the year under review was 83. In Septembar 2021. the Co118ge enrolled 63 {2020".95) undergraduate and O (2020.'4) postgraduate full time students as well as 7 (2020=5) undergraduate part time, 32 (2020-.39} post graduate part time and O (2020.'1) full time Ph.D. students. Those attending the College were from a wide spectrum of denominations. Sludents attendtng the college corne mainly from UK and Ireland with a small number comlng from countries from around the world. ii. Educatlonal Development During 2021 the College roNed out year 2 of a revalidated UG programme. This newly revalidated degree builds on our knowledge and experience and sèeks to better serve our students wth an integraled approach across theological disciples and practical seNice.
BELFAST BIBLE COLLEGE LIMITED STRATEGIC REPORT FOR THE YEAR ENDED 31 AUGUST2022 The College also sought to enhance the support we offer to sbjdents, on a joine&up approach across academic. pastoral and residential support. Feedback from students has been very positive as to the quality of the support and it has been encouraging lo see students access bolh academic support Ihrough their Personal Tutor scheme. as well as Pa51oral care. This posrtive feedback has been echoed in the extemal survey based NSS that paints an encouraging picture of College. The MA (launched in 2018) continues to attract students from a wtde range of Pfofessronal backgrounds as its blended approath serves their educational and professional needs well. This year our further enhancement of the MA has enabled sludents to present Iheir dissertation research proposals in an online seminar. Alongside our formal education. the College offers short courses. created by the College and accessible to the public at large. This year we contrnued our sulte of programmes under the banner of The Transformation Project. The accessibility of these classes with some face-to-face and some online has woiked well and resulled in a greater diversity of participants along with a widpr net of contributors to the teaching. ÈIS. Resource Development The level of charitable donations to general operations and specific projecls conlFnues lo support the Collage needs. The College 1$ dependent on the generosty 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 possibilities. The College continued its policy of upgrading facilities Ihrough rninoi capital work5 and Ihe ongoing maintenance programme on its bulldings. During the year £46,550 P021: £42.877) was spenl in this way. Human Resources The college continues to support staff and volunteers, wtth ongoing training for our line m8nagers and supportFng staff. sess The College continues its commitment to provldlng theological education at differing academic levels and for varying study periods depending on the needs of prospective applicants. In the BA in theology from the University of Cumbria 590A (2021: 46Y.) of stLKlents graduated with a 2.1 or above.
BELFAST BIBLE COLLEGE LIMITED STRATEGIC REPORT FOR THE YEAR ENDED 31 AUGUST 2022 FINANCIAL REVIEW The r8suIts of the College's activities are contsined in the attachèd fancIal statements. Overall a deficit of £66,117 (2021: surplus £47,869) is reported for the year ended 31 August 2022. Unrestricted Furtds retUTned a deficit of £73.040 compared lo a surplus of £43,146 in 2021 whilst th8 corresponding figures for Restricted Funds were a surplus of £6,923 and a surplu5 of £4.723 respectively, Unrestricted Reserves were £1,220,515 (2021., £1.293.555) at year end whilst Restrfcted Reserves were £69,991 12021: £63,068). The College decreased its bank balance during the year. Bank balanS at year end were £550.764 compared to £586.088 at the end of the previous year. This is sufficient cash reseNes to meet Ihe College's funding requirements for Six monlhs without resoTling to borrowing from Ihe company's bankers or generating additlonal lunds. Income During the year under review, 83 (2021-. 122) full time equivalent students attended the Collegè completing one or more of the variety ot U[seS provided by the College. In the 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 dass or day release courses generating fee income of £41.993 (2021:£41,352). Donatlon income and income from the use of the College's facilities continue to provide a steady source of revenue. nditur Expenditure may be broken down belwe8n that whith is incurred direcuy on education and that which 15 incurred on mainlaining the College's buildings and infrastnjcture. Over 85% of the educational costs may be analysed a5 employment cosls. Personnel and Property costs aTe the major areas of experKliture within the indirect or corporate services area. The Colleg8 has been impacted by the steep rise in energy costs as a result of the currènt cost of livlng uisis. As this occurred during the middle of the academic year. w6 were unable lo recover any additional costs by way of increased fees- fees being Set in advance for each academic year. At the same time. we identified that Glenbum House was in serious ft8ed of major r6furbishment and upgrade. However, the increased costs of mateiials and labour have prohibited Ihe rom out of the work required until addittonal funding Is In place. Re nated Fu The College also receives donation income from churches and Indlviduals for specific projects. These are all recorded separately according to their specified use and are maintained in separate funds as follows.. Global Sponsorship FurKI This Fund is used to support undeigraduale 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 Iravel. 8¢commodation and out of pocket livlng 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 churth environment. In Ihe year just ended, no (2020.. 2) students were supported under this scheme. Student Bursary Fund This Fund is used to support students from withtn the Brittsh Isles who would otherwise be unable to meet the costs of study at Ihe College. Such students are assessed by a Board sukCOmmittee who bring Iheir recommendations to the Boafd as appropriate. During the yeai ending 31$1 August 2022, with the assistsnce of a Funder we were able to provide 4 students with a total of £3,000.00 of assistance. College Building Fund The College owns all its burldings and has no loans outstanding on its property. This Fund is a DesvJnated rather than a Restricted Fund and is set aside for a capital project lo improve facilities. Land and Building Fund The College maintsins a designated resèrve equbvalent to the net book value of Its property (land and buildings) to focus attention on thè infrastructure of the College and the need to generate sufficient funds to maintain this property. This resetve is made up of the land and buiFdings which are held for the long tenn and Is not readily available to meet Ihe ongoing operating cosls of the Cdlege. RESERVES POLICY By its nature the ¢ollege meets expenditure from tts income and the majorily of unrestsicted resee$ comprises deslgnated funds. 11 is the Board's policy lo work towards a posilion where General Fund reserves as set out In note 17 are sufficient to meet three months of operating costs which amounts to £228,741 withoul prejLKlicirvJ the ongoing activities of the Cole. The reserves policy is reviewed annually, and unrestricted General Fund reseNes amount to £269,146 at 31 August 2022. Thls represents 3.5 months of operating costs of the College. The Board is continuing to seek to achieve the reserves target while continuing to deliver the College's objectivès by seeking to budget for a small surplus each year. The total reserves of th8 College for charitable purposes amounts to £1,290,506 at 31 August 2022 of which 5 % are restricted, 64°/ts are represented by land and buildings and 31% are available for use albeit 90h of thal is designated for firtura capital projects by the Board. Plan For Future Perlods The Board is cognizant of the challenges fadng theologi1 colleges in a post-pandemic landscape. In 2022-2023, members strove to achieve strategic objectlves (which were agreed to in 2021), with courage, adaptability and creativity. The strategic objectives are". 1. To strengthen the College'B edur*lonal promsion and conlinue to Improve the quality of the teachlng and leaming experience. 2. To enable all of our students to progress In their learning. their personal d8velopment and Ihe maturing of their Chrislian charader, and to help them live out their faith as 21st century dilpIeS. 3. To raise the profile. reach and reputatlon of the College locally and internationally. 4. To seek to be a prophetic response lo conlemporary issues fa¢ing the church and society-
BELFAST BIBLE COLLEGE LIMITED STRATEGIC REPORT FOR THE YEAR ENDED 31 AUGUST 2022 In addition to nomal operations. other fo were a pdority. They induded.. The appointment of a new Principal. Increasing the College's profile through a series of 5trateglc courses as well as online inputs and Church engagements. Increasing the overall long.tafm financial stsstalnabllty of the Colleg6 through the commercialisation of additional 5eNices. Explorrng Ihe College's capacity for E-learning. Expanding the College's postgraduation18arning platfrjrm, inclLKling addittonal courses. This will continue into 2022-23. Regulatory and key performance indl¢ators This year the College recelved the endorsement from QAA as th8 College ntInUeS to maintain academic standards and 8nhance the qualty of student learning opportunities. App ved ty the Board on 5 and 8lgned on Its behalf by orrn {Chalr) Director
BELFAST BIBLE COLLEGE LIMITED DIRECTORS, REPORT FOR THE YEAR ENDED 31 AUGUST 2022 The directors present their report and financial statement5 for Ihe year ended 31 August 2022. The directors have adopted the provisions of the Statemenl of Recommended Practice {SORP) Accounting and reportlng by Charittes (FRS102) in preparing the Annual Report and financial slatements of the company. STATEMENT OF DIRECTORS, RESPONSIBILMES The directors, who also act as Trustees, are responsible for preparing the Annual Report and financial ststements in accordance with appIlble law and regulallon. Company law requires the dlrectors to prepare financial statements for each financial year. Under that law, the directors have prepared the financial statements in accordance wtth Unrted Kingdom Accounting Standards comprising FRS102 The Financial Reporting Standard applicable in the UK and Republic of Irèland. and appfi&gble law (United Kingdom Generally Apted Accounting Practice). Under company law the directors musl not approve the financial statements unless they are satisfied that they give a true and fair vtew of Ihe state of the affair5 of the ¢ompany and of the incoming resources and application of $ourS. induding the income and expendiluie account. of the company for that year. In preparing these finanrjal stalements Ihe directors are required to- . select suitable accounting policTres and then apply them consistently- observe the methods and principles in the Statement of Recommended Practice {FRS102).' Accounting and Reporting by Charities (2015)- make judgements and estimates Ihat are reasonable and prudent- prepare the financial slatements on the going concern basis unless it is inappropriate lo presume that the company will continue in buslness- and stale whether applicable UK Accounting Standards have been followed. subject to any material departures disclosed and explained in the financtal statemenls. 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, Ihe finan(yal position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safegUardg the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularitie5. STRUCTURE. GOVERNANCE AND MANAGEMEKr Belfasl Bible Collego Limited is a company limitsd by guarantee not ha)Ang a share capital and is incorporated under the Companies Act 2006. The company is governed by ils memorandum and articles of association. The College is fomially recognised by HM Revenue and Customs as a charftable body urFder reference XN47242. and 15 regislered with the Charity Commission for Northern Ireland NIC104482. The statutory reliefs under s505 of the Income and Corporation Taxes Acl 1988 are admissible on income subject to compliance with the terms of $505 of the A. Board of Dlre¢tors The Board of Directors is responsibEe for Ihe review of all activities, approval of budgets and implementation of future strategy. The Board meets fvè times per annum. There are three Board sub-committ8es 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 Managemenl Team is made up of six staff undèr the leadership of the Principal and Is responsible for all operational and day to day matters. It recornmends key decisions to the Board for approval and will also provide information and recommendations to the Board sub-comrnittees 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 durlng the year and up to the date of slgnature of Ihe financlal statements, unless olherwise noted, were: Dr N C Morrow (Chair) Dr M E J Bennett (resigned 16 June 2022) Prof N D Black Ms S Graham Mr P S Hendron Mr N Jennings MrMHPitt Mis J Smyth Mr D R Wheeler {re5igned 16 June 2022) Mr P Fleming {appointed 16 June 2022) Mrs Lisette Watson (appointed 8 December 2022) Appotntment of Dlrectors Those seNing as directors a invited by the existing Board of Directors on the ground of their proven ability, relevant experience. and personal interest in the work of the College. Prior to Joining the Board each prospective member meets with Ihe Chairman. The meeting provides an ovefview of the College and the role and responsibilities of each member of the Board. An induction process for new Board members has been developed and is used to ensure they are familiar th the objectives, actimties. public benefit and risk5 facing the College. A Directors Pack for the College is given to each new member when they join and ongoing training Is provided as roquired. Each rnember of the Company is also appointed as a director, serves for a specific temi, tIre5 by rotation. and upon retirement is eligible for re-appointment. As the College reoeives only 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 the directors has any beneficial interest in the company. All of the directors are members of the company and guarant88 to contribute £10 each in the event of a winding up. The College employs a principal and other full time and part time teaching staff, and the day to day operation of the College as a place of Christian educats'on is delegated to the prindpal and his staff. H¢)wever, the Board of Directors is umimately responsible foT the activities of the College, and are govemed by the doctrinal statemt set out in paragraph 3 of the Article5 of Association as well as the origuial objects expressed in the Declaration of Trust of 81h February 2003. Tre College is an independ8nt body and has no constitutional connection wtlh any other college or education e51ablishment. 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 Wamock, our Principal for the last 5 years and wish to record our thanks to Helen for her contrtbulion to the College. In April we welcomed Rev James Bumett as our new Prinupal. James has a very real sense of calling to the College and comes with considerable experience in Iheology, mission and pastoral ministry and we also walue his leadershlp skllls.
BELFAST BIBLE COLLEGE LIMITED DIRECTORS. REPORT FOR THE YEAR ENDED 31 AUGUST 2022 OBJECTIVES AND ACTIVITIES The purpose of the College is: To equip 21st century followers of Jesus through theological educafjon that fosters the abilty to communicate the Chrlstian faitt) intelligently and with conviction in word and actK]n. The main actiwty of the College ¢onlinued to be in the area of delivering educational programmes in keeping with that purpose, Through this year, we successfully continued lo piovide courses leading lo: Intemal 3 month, 1 year Certificate & graduate Dirna courses. 3 month Certificale, 1 year Certificate, 2 year Diploma and 3 year BA in Theology {Universty of Cumbria tUOC] validated courses). Postgraduate 2 year Part Time MA In Theokjgy (University of Cumbria [UOC] validated urSe). EMPLOYEES All departments within Co118ge have regular stsff meetings whereby infomation is disseminated lo and obtained from staff by senlor management. There are gUlar meetings to facititate the exchange of this infomiation and also on the agenda for discussion at these meetings is the current stats.st11. qualrty and budgetary Information for the College. RISK MANAGEMENT Risk management Is consldered by the Board annually but opefalional oversight rests with the Board Finance. Risk and Audit Committee who consider risk at each meeting. The College has developed a College Strategic Rlsk Register supported by a subsidiary Register of more minor risks and Ihe 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 il has in Pla the procedures to manage any such ongoing risks. The followtng is a summary of the key activitie5 in pla to mitigate exposure to rfsk.. ongoing review of the Strategrc Plan and anatysis of the mark8t for students who wish to obtain formal blble based training and accreditation- monitoring of financial infonnation on a monthly basis with adequate planning and finanrAal controls in place." an establishèd Education Commiitee together with robust reportin9 and indeperKlent quality review procedures Ihrough our accrediting sponsors.. extensive range of policies and procedures to cover all aspects of the College activities; organi581ional structure whith includes provision for deputies to cover key roles and an effective succession planning process., robust govemance controls with suffieAent management and reporflng strUcre$ in place,. and frequent assessment of risk lo ensure all possible consequences are constdered and controls Implemented.
BELFAST BIBLE COLLEGE LIMITED DIRECTORS. REPORT FOR THE YEAR ENDED 31 AUGUST 2022 The key risk5 faclng the College are set out in the Corporat8 Rlsk Register but the focus of attention surrounded the following risks.. Maintenance of a high standard of educallonal quality and excellencè to support academic achievement and Christian seNice development among the studant populalion. Sustainabllity of funding to support all College activity. maintenan of an appropriate physical environment for both staff and students These risks are managed and miligated through various managemenl operated policies and procedures and overseen by speclfic Board Committees in these key aFeas- Education Committee, Finance, Risk and Audit Committee and Human Resources Committee. These slanding committees are suppFernented 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 emerging Tisks such as the General Data Protection Regulation to ensure the College is aware of the impact and is planning to mitigate the risk if and when it arises. PUBLIC BENEFIT The Board belleves that the publlc benefjts from its activities in the areas oflhe advancement of religion and the advancement of education through: The training of frjll and part tirne rnini5ters of lIgIOn, lay associates and pastoral ministy Workers Spiritual formation of laily Teaching and spreading the principles of the Chn-stian religion Ralsing awareness and understanding of Christian beliefs and practices The carrying out of missionary and outreach work iv. The areas in whlch the college seeks to achieve this 8re:_ Through college and higher educalion Community education Religious education Vocatlonal training and life-long learning The development of individual capabilities, competencies. skills and understanding The key beneficiaries are the students who have Ihe opportunity to attend full or part time courses provided by the college. In addition, the public at large may attend putlic lectures and part ttme college courses. The directors confimi they have had regard to the statutory guidance in respe¢t of the Public Benefft Requireffl8nt published by the Chanty Comfflission for Northem Ireland. FUNDS HELD AS CUSTODIAN TRUSTEE ON BEHALF OF OTHERS The charity does not hold any funds as custodian for any other tNstee brJdy.
BELFAST BIBLE COLLEGE LIMITED DIRECTORS, REPORT FOR THE YEAR ENDED 31 AUGUST 2022 DISCLOSURES OF INFORMATION TO AuDOR5 To the knowledge and belief of the directors. the directors confimi that there is no relevant infomation that the company's auditors are not aware of. They further confirm that Ihey have taken all the steps necessary to ensure the directors are aware of any such relevant informallon. and to establish that the companrfs auditors are aware of suth information. AUDITORS Harbinson Muholland have indicaled their willingness to continue in office and a resolution conceming their re appntMent will be proposed at the Annual Gèneral Meeting and to authorlse the directors to fix the remuneration oflhe auditors for the year ended 31 August 2023. Approved by the Board on S and slgned on its behalf by Dr N C Morrow (Chair) Direct¢x 10-