HFOLOG
WESTMINSTER THEOLOGICAL CENTRE
ANNUAL REPORT AND CONSOLIDATED FINANCIAL
STATEMENTS
FOR THE YEAR ENDED
31 JULY2025
Charity Number.. ll23573
Registered Company No.. 06506007

WESTMINSTER THEOLOGICAL CENTRE
TRUSTEES, REPORT
YEAR ENDED 31 JULY 2025
CONTENTS
Page
LEGALAND ADMINISTFIATIVE DETAILS
TRUSTEES, REPORT
IINCORpofèATING THE DIRECfORS' REPORT)
2-10
INDEPENDENT AUDITOR'S REPORT
CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES
14
CONSOLIDATED AND PARENT BALANCE SHEET
Is
CONSOLIDATED STATEMENTOF CASH FLOW
16
NOTESTOTHE FINANCIALSTATEMENTS
17-23

WESTMINSTER THEOLOGICAL CENTRE
TRUSTEES, REPORT
YEAR ENDED 51 JULY2025
LEGAL AND ADMINISTRATIVE DEfAILS
COMPANY NAME
Westminster Thetslogical Centre
(o componylimited byguurunteej
COMPANY NUMBER
06506007
CHARITh REGISfRATION NUMBER
1123573
TRUSTEEsIDIREcfoRS
Mr N Langford Ichairllresigned May 20251
Mrs J Dudgeon lfrom October 20241
Mrs Amanda Bedzrah (from January 20251
Mr5 G P de Berry (acting Chair from May 20251
MrR Ellis
Nlrs S Hunter
RevA S Johnson (resigned March 20251
Mr A Junaid (resigned July 20251
COMPANY SEcR￿ARy
Mrsj Dudgeon
KEY MANAGEMENT PERSONNEL
Dr B Blackwell - Vice-principal (from August 20..
Principal (from January 20251
Dr L Peppiatt
Princlpal (to December-20241,
(from January-251
Mrs J M Lawry-white - Chief Operating Officer (ended
July-251
Mrs C B Catto- Finance Director Ito December 20241
Mr S J Hannis - Finance Controller (from May 20251
Mr C Palmer- IT Director (from September 20241
President
REGISTERED OFFICE &
PRINCIPAL OFFICE ADDRESS
Westminster Theological Centro
16-17 Clarence Parade
Cheltenham
(￿03PA
REcisfERED AUDITORS
Hazlewoods LLP
Staverton Court
Staverton
Cheltenham
GL51 OUX
PRINCIPAL BANKERS
Barclays Bank
I Churchill Place
London
45HP
Cooperative Bank
l Balloon Street.
Manchester,
M4 48E

WESTMINSTER THEOLOGICAL CEl￿RE
TRUSTEES, REPORT
YEAR ENDED 31 JULY 2025
The Board of Trustees of Westminster Theological Centre has pleasure in presenting their report
and consolidated financial statements for the year ended 31 July 2025.
The financial statements have been prepared to comply with the Charitie5 Act 2011, the
Companies Act 2006, the Memorandum and Articles of Association, and Accounting and
rieporring by Charities.. Stètement of fiecommended Practice applicable to charities preparing
their financial statemerits in accordance with rhe Financial Reporting Standard applicable in
the UK and Republic of Ireland IFfès 1021- (Charities SORP IFFiS 10211.
Ex•eutiv• Summary
WTC is an interdenominational, charismatic theological college with a vision to bring together
rigorous theology and the vibrant life in the Spirit wrc's goal is to Serve the UK church
catalysing personal and community transformation by equipping and empowering people of all
a9es and backgrounds for leadership, mission, and discipleship. We do this by making rigorous
academie theology accessibl& to the whole people of God. While our student body represents
many denominations the majority are member5 of iridependent churches and networks.
We continued to invest in this vision throughout the year, with students experiencing
transformative teaching and learning experiences Following a consolidated surplus of £83k in
last financial year, we have consolidated loss of £63k this year,. in particular while we grow and
develop the CDMS product in ￿Cc and plan for future student growth. As part of our Strategic
Plan, we initiated the process for registration with the Office for Students and are awaiting the
outcome to the application at the moment. Dr Lucy Peppiatt to the role of President from
January 2025 and Dr Ben Blackwell has been promoted to the role of Principal. As we look to
the new year, laney Lawry-white ha5 moved to a management role with ￿Cc and Nigel
Langford started in August 202S to take the College frlrward in its strategie plan.
Strurture, Governance and Management
Westrninster Theological Centre I.￿C. or Yhe Company'l is a charltable company1imited by
Guarantee and governed by a Memorandum and Articles of ￿sociation dated 31 January 2008,
modified by resolution dated 2 July 2009. The Mem and Arts were updated again in May 2013
with the cessation of the New Wine Partnership. The Company was incorporated on 18 February
2008.
The number of Trustees must be between three and twelve and are appointed in accordance
with the Articles of Association. The Trustee body embraces a broad variety of skills and new
Trustees are considered in the light of their ability to contribute to the work of ￿c and must
subscribe to its values. The Trustees undertake a skills audit every couple of years and actively
seek to recruit new Trustees who will provide a balanced arnd representative group among
themselves as a Board. All Trustees are actNe Christian
At the end of the year, the Board
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board
consisted of five
Trustees, one man and four women. who oversee a Senior Executive Team comprising the
Principal, Chief Operating Officer and IT Director.
Jenny Dudgeon 15 the most recent Trustee to join the Board. in Ortober 2024, and will becomè
the Chair Iri 2025-26. Alongside this change, Sarah Hunter will become the Company Secretary.
The current Trustees bring a wide range of experience to the WC 8oard, including in church
life and lead&rship, corporate £rnd third sector professional expertise. the practical outworking of
their faith in this country and internationally, and their extensive networks. Of the current
Trustees, four are current students or alumni of Wtc. The B03rd conducted an external
evaluation of governance and management arrangements in 2021 and, in line with Charity
Commission good practice, will conduct another external evaluation within five years of the last
one.
The Trustees are non-executive, independent and external to Wfc. Trustees are responsible for
setting the broad policy and Strategic parameters within which wrc operate& The day-to-day
running of wrc is delegated to the Senior Executive Team. The Board and Senior Executive

WEsfMINsfER THEOLOGICAL CENTRE
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YEAR ENDED 31 JULY 2025
Team together agreed the aims and objectives of the current five-year Strategic Plan for
P022-Zll. and 5tTategic plan indicators are monitored and reported to the 8oard every six
months.
To support the effectiveness of the Board and make the best use of Trusteè sk1115 and
experience, the Trustees established three Committees in 2022, which meet regularly to discuss
their areas of responsibility, report and make recommendations ro the 8oard and refer certain
decisions to the Board for ratification. These Committees oversee lil Finance and Risk., lill Senior
Appointments and Remuneration.. liiil Networking and Fundraising. The Board has also created
an Equality, Diversity and Inclusion IEDII Group to lead on Wtc's 5tfategic aim of meeting good
practice standards in EDI.
All Trustees give of their time freely. No Trustee received remuneration for their role a5 Trustee.
Details of Trustees, expenses and related party transactions are disclosed in note 15 to the
rinanci81 statement&
For the academic year 2024-2025, 20 UK based external Faculty members, and 10 international
Guest Lecturers taught part-time with wrc. For details of the Faculty,
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On 5th August 2020, a consulting arm of WTc,.￿c Consulting Ltd.. was incorporated with the
501e aim of generating incotne through consulting activities, primarily the licensing of the
College Data Management System ICDMSI, initially to other theological colleges in the UK AII
profits from WFC Consulting Ltd will be paid to WTC io reduce the deficit between the cost of
providing courses and income from student fees. A separate Board of Directors has been
established for the company. As of October 2025, five external colleges are licenced CDMS
client
ObJ•etlve5 and Actr¥itles
The main objectives of wrc are..
To advance the Christian falth in both doctrine and lifestyle
To advance the education. training, personal and professional formation of Christian
leaders in the Church, the marketplace and the public square.
To meet these objectives offers a Tange of part-timè undergraduate and postgrèduate
programme5, accredited by Chester University (until August 20231 and 8irmingh£m Newman
University (for those students enrolling after August 20231.
WTC is an interdenominational. dynamic and growing theological college, with a unique
constituency in the UK and an innovative delivery medium for its programmes of study making
them accessible to a wide range of students across the UK around their work, life and church
commitments. Whlle our students are drawn from many church denominations, our primary
constituency is the independent, charismatic, ehurch sector la growing sector in the UK
church), which has no dedicated theological college in this country. This, combined with the
delivety medium, means thai wrc attracts many students who would otherwise not study
degree-level theology.
The academic programme5 are delivered through a combination of residential teaching blocks
and weekly study in local learning communities, or 'H¢Jb5'. The Hubs are hosted by visionary
local churche5 which share WTC'S goal of resourcing their regions with deep and rigorous
theological study. cUrrernt￿, there are 13 Hubs across the UK, including one each in N. Ireland
and Scotland.
C students include both church leader5 and members, drawn from a very wide range of age,
professional and educ3tion backgrounds. They study around their existing worK life and church
commitments, remaining in their home locations while avoiding the isolation of traditioTral
distance lear￿Ing.
wrc is a values-led institution, with accessibility to our pro9rammes being a core value. This

WESTMINsfER THEOLOGICAL CENTRE
TRUSTEES, REPORT
YEAR ENDED 31 JULY 2025
means that fees are kept relatwely low, making study accessible to students from a range of
economic background5. At the same time, the Board and Senior Executive Team are fully
committed to ensuring that ￿c continues on a firm and sustainable financial footing. This
means that our Board and Senior Executive Team are proactive and innovative in pursuit of
increased student numbers, and diversification of other income streams to cover the two in-
house bursaries, and the balarice of colle9e running COS￿ As well as ffinancial accessibility, we
make it possible for studenis to achieve academically at university level. Having the confidence
to begin and continue a university programme c8n be an issue for student5 who achieved
poorly in school for whatever rea50n. who may never previously hsve studied at this level. or
who studied at university decades ago. To address this, wrc ha5 developed and makes available
to every student outstanding study skills resources and learning development support. As wèll
as online resources. individual and group meetings with the Learning Development Tutor are
regularly available to wrc students. We know from student feedback that these resources and
the sUPPOrt provided have been life-changing for many students, enabling them to achieve at a
much higher level than they have Previous￿ done academically.
Efficiency and effectiveness are also key operational values and have resulted in WTC
developing a tailored and continuously enhanced data management system which provide5
the backbone of all the colleges operations, proces5e5 and student information system, keeping
staff overheads low while freeing up staff time to focu5 on providing a personali5ed student
experience in which every student 15 valued and affirmed.
Future Plans
wrc will continue to offer the validated programmes of study which continue to prove popular.
Our adaptation to fully online teaching in 24 hours during the Covid pandemic and reverting to
a mixed Iremotelin personl delivery since the end of the pandemic have shown how
approprlate and flexible the delivery model is for the current changing Higher Education
context.
We continue to build and strengthen exi5tlng relationships with independent church networks,
which are increasingly re¢ogni5ing the value of theological study for their leaders and mernber
witnessed by wrc being the validated partner of choice for networks including the Vineyard,
24-7, Scottish Network Churche5. As well as independent church networks, established church
denominations are approaching to discuss wrc offering the theological element of
leadership training while they provide denomination-speclfic training.
This èll cornb*nes to support our plans for increases in student numbers over the next five years.
Thi5 Optimism is supported by the fact that WTC student numbers have held steady over the
years since the Comd pandemic, in a sector where the majority of collegès have seen student
numbers falling.
WTC is addresslng 1551Je5 of accessibility by applying for reglstrstion with the government Office
for Students. Registration would enable wrc ￿Udents to access government student finance
for uridergraduate and postgraduate students. Results of a financial survey of students
(September 20231 reported that 55% students required financial assistarnce with their fees
(primarily from wrc bursaries friends, family or their church). Access to government student
rir)ance will make wrc prograrnmes of study even more accessible- particularly for students
aged 18-25 for whom studwng around work and while remaining at home is an attractive option
given levels of mental health and a desire not to incur high levels of student loèn. This
demographic represents a very small number of current wrc students- so there is significant
potential to increase numbers with access to government funding.
C continues to innovate with flexible models to rnake studying with ￿c available to more
students around the UK. September 2024 saw the opening of the first ￿c Hybrid Hub in
Aberdeen. Qather that establishing a Hub in an area of high population density, which involves a
financial partnership between 1￿c and the Hub Church Partnerlsl. the Hybrid Hub model is a
time-limited 12-3-yearl. financed, learning community for students who wish to study in
community la ￿c distinciivel but are too far from a WTC Hub. We are learning le550ns from
this first pilot and will refine the model before rolling it out in other areas of the country- e.g.

WESTMtNsfER THEOLOGICAL CEKfRE
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YEAR ENDED 31 JULY 2025
areas of Wales, Scotland and the West Country - which are too sparsely population to support
the conventional Hub model. This should also increase student recruitment.
8ulldirng on the online Foundations in Theology course for individuals which is continuing into
Its second year, has produced a recorded version, Foundations Course. Church Edition,
which is aimed at groups of students- e.g. church interns, staff, and other group5 of students,
who wish to study theology together but are not in a position to commit to university level
programme& This recorded course will be cheaper and is designed for group rather than
individual study. A number ot churches have already signed up to the recorded course. Finally.
the Prisons Prograrnme. restricted fund, is growing and during 2024-25 in person teaching h35
been delivered into a prison with a view to launching a CertHE stream into these locations- the
Prison becoming an additional Hub- these project is self-funding through donEtions received.
hlevlng our Goals
Student satisfaction and evaluation
wrc's vision is to integrate the best of scholarship with the power and gifts of the Holy Spirit to
effect personal and community transformation by equipping. healing and releasing God's
people of all ages and backgrounds for mi55ion and d￿SCipleshIp.
The extent to which Wfc is accomplishing its wsion is best captured by sludent and alumni
feedback.
C conducts periodic alumni surveys. Results from the 2022 survey include..
875% reporteol that studying with wrc was per50n311y transformational
79% reported that studying with Wtc had
positive impact on thelr
vocation/worVministry,
IO0% of ￿c students reported satisfaction with their programme of study in response to
the University of Chester partner suNey of June 2023
Student videos and testimonies hlghlight the difference which studying with has and
continues, to make to them a5 individuals. as well as to their lives and work.
"wrc is a place of complete restoration, of recreation and a completely new way of
thinking about the world and where you work..Istudyingl equips tyoul with God's word
and God's presence to carry it into the places that you are every day...and empowers you
to be yourself wherever you are...It's the best choice you could ever make.. IGradDip
gr8duate/senior corporate managèr)
"WTC has changed my life in so many ways...wrc has opened a way for education to be a
part of me and it'5 absolutelytransformational. IBA studentlchefj
°When you get to my position lin church lèadership for 40 yearsl, it's good to continue the
journey of becoming a lifelong learner. You can ask the question,'Do I really have the time
to stud￿, IRather than askingl 'Can l afford the time?. I would say can you afford not to?
What happens as you study brings alive God's word and bring5 a fresh sense of vision. It's
been important for.me to maintain my ability to coèch and lead. Studying with wrc has
helped keep me onrthe cutting edge.. IGradDip and MA student/senior church leader).
wrc is one of the best things that has happened to me, I'm definitely not the same
person now as I was before." IGradDip studentlbusinesswomanl.
his is the first place I have studied where I have not been made to feel stupid. The Study
Skills Flesources are outstanding.. IGradDip studentlcommunityworkerl.

WESTMINSTER THEOLOGICAL CENTRE
TRUSTEES, REPORT
YEAR ENDED 31 JULY 2025
.￿c has been so good,. they have treated me as an individual." IGradDip studenvchurch
leadership team)
In addition to student and alumni feedback. systematically capture5 student evaluations of
each module and of Hub communities and Hub Director performance which informs our
culture of continuous improvement and learning on how we opèrate. Student feedback is also
routinely sought through elected Hub Student Representative meetings with senior staff twice
a year, through student input into curriculum reviews as well as by encouraging all students to
approach Faculty ènd staff with any queries throughout their studies
wtc aece55ibilit
and reach across the UK
Our closest partnerships are with our Hubs
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Our Hub
partnerships are at the core of wrc and how it functions. As well as serving a5 the location for a
WTC Hub where all our students from that region gather weekly to Study together and support
each other, the Hub partners act as advocates and champions of wrc within their
churcheslcentres, among their networks, and acr055 their regions. Each of our Hub5 brings
something unique to the makeup of wrc, and at the heart of the partnership is 3 shared vision
for educating and training the church, resourcing a region, and building up the body of Christ.
Our Hub networK together with the delivery model. makes studying with wrc highly
accessible. The wide age and education background range of the student body is evidence of
the college's success in making university level study available to mature student5 of all
backgrounds in areas of multiple deprivation as well as wealthier areas of the country.
Partnering with ￿c benefits a church, centre, or grotjp of churches in a number of ways,
including putting education and training for all at the heart of church and helplng to build a
culture where church leaders and members are able to access life-giving theology, equipping
everyone who studies with gre£ter confidence for all aspects of their life. work and faith. It also
enables those in leadership to train upcoming church leaders through the rigorous study of
theology in a context that will strengthen their faith, build their knowledge. and equip them
with skills for leadership. teaching. and training others A partnership with wrc also enables
churches with the vlslon to be resourcing churches for their regions.
As well as our Hub partners, WC has established relationships with several major independent
church networks across the UK, for which ￿c is the recommended validated provider for their
leadèrship and training programme&
One of the great advantages for churches is that all our courses are part-time, arid therefore
study is accessible for busy people around their other work and family commitments while
staying rooted in their churches throughout their studie5, Wlth the churches benefitting from
their learning from day one. 80% of wrc students work while studying.
Flnan¢l•l su5talnablllty
Student recruitment and numbers
In the year ended july 2025. WTC had 214 accredited students 123-24.. 2171122-23.. 227) with
accredited fee income of £839k123-24.. £792kl122-23'. Ernkl. In 2024-25, 56 undergraduates, and
11 postgradtjates completed their studies. Given that m05t UK theological colleges have seen
(sometimes significantl downturn in student rnumbers since the Covid pandemic. ￿c,S
validated student numbers holding steady represents an encouraging trend.
In September 2023, Wtc launched a fully online, one-year, level three Foundations in Theology
Course. making it possible for students outside the UK to study with WTC. and for those who
wish to start at a pre-university level, or who haven't time to study at degree level, to learn vwth
The Foundations Course has had an encouraging stzrt with $7 students.124-25.. 451. A5
well as making deep theological study more widely available and generating addition fee
income, we See the Foundations Course as one effective strategy for recruiting students to
wrc's validated programmes. Moreover. the recorded version was iaken up by or)e church in
24-25 and we have many financial commitments for the Foundations Course Church Edition
during 25-26.

WESTMINSTER THEOLOGICAL CEKfRE
TRUSTEES, REPORT
YEAR ENDED 31 JULY 2025
wrc also hosts 1￿c Resource
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theology resources available to individuals, groups and churches, the content from which is
belng transitioned to new platform Media during 25-26 as part of the the launch of the
Foundations Course Church Edition. Over 5500 individuals accessed ￿C fiesource. WTC
Flesource and then Media 15 another channel through which people experience learning wwth
C, and every year, students join our accredited programmes who have engaged with
rlesource.
Theodisc
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is WTC'S podcast which was established in
autumn 2022, and, with over 46,670 audio downloads to date, continues to raise the profile of
C as a unique and innovative promder of theological education in the UK. In addition. our
Faculty publish articles and books both in the UK and internationally. and engage with other
PR outlets, taking the opportunities provided to encourage listenerslreaders to study.
Non-fee income
Each financial year, the budget includes an expected annual fundraising total, setting a target
for the Board and Senior Exec team. Donationslgrants are received from individuals and a few
trusts who support the college's objectives. While the overall aim continues to be to reduce the
percentage of our income required from donations to cover running costs with increased
student TecruitmenL we anticipaie continuing to fundraise over the long term to be able to
offer more bursaries in line with our strongly held value of making our programmes accessible
to a5 wide 3 range of student5 as possible.
Individual donations and trust fund grants therefore continue to be important sources of
fundraising. Individual donations range from small monthly standing orders (by students and
alumni) to multi-year commitments as part of our Patron scheme, by which donor5 commit
minimum of £5,000 each year for a minimum of three years. Multi-year funding pledges mean
that we begin each academic year with a Significant donation total already committed. In
addition. a small number of trusts give significant amounts to both our general running costs,
and to Specific projects including our Principal's Bursary Fund which offers up to 90% fee
bursarie5 to those with a recent history of offending andlor addiction. We also continue to
Slrengthen alumni relations, encouraging those who can. to become donors.
In 2023-24, the Board's decision that WTC should apply for registration with the government's
Office for Students nece55itated additional fundraising to cover &OOk of expected costs. £85k
was raised toward5 these costs
wrc Consulting Ltd
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long term financial sustainability strategy.
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has continued to
row. This is part of wfcs
Review of Operatlons forthe year
During the year, wrc ha5 maintained close relationships with all its Hub churche5 and the
networks and churches from which wrc students are recruited to study. The focus of events
between January and August is student recruitment.
WTC has a strong programme of online and in-person event5 at both national and reglonal
levels in support of Student recruitment. The audience for these is both church and church
network leader5 who recommend their leaders and rnembers to study theology, as well as
potential students themselve&
Our operational overheads remairn low as a result of high levels of efficiency. with a team of 25
115.5 FTEI running the college plus adjunct faculty and guest lect¢Jrer5.
Flnancial Revlew
The consolidated group res￿￿ is a deficit of £68,237 in the year to 31st July 20￿(2024.. Surplus of
£83,058>. The principal source of income wa5 Student tuition fees, totalling £851.TO 12024..
63,8531. supplemented by donations of £259,97712024. £350,050). Total costs of £1.239,066 are

WEsfMINSTER THEOLOGICAL CENTRE
TRUSTEES, REPORT
YEAR ENDED 31 JULY 2025
consistent with the prevlous year 12024.. £1,239,147)., however, delayed recruitment of staff and
restructure has decreased costs in 2024-25 in comparison to next financial year. wrc continue5
to rely on donation5 to fund the operating gap between net student fees and operational costs,
and increasing the number of donors is a Strategic Plan objective. Cash flow has been closely
managed by our Finance Controller.
The Principal's eursary fund IP8FI was launched In 2015 to enable those with a recent history of
offending or addiction to study with us - many of whom would be unable to afford the fees
without assistance. This year 7 people have benefitted from the Principal's Bursary. A restricted
reserve of ￿5.785 is carried forward as at 31 July 202512024.. E23.0251 for this purpose and is
being used to fund students in the academic year commencing September 2025. Any
rem£ining balance will be used in future years.
A second, 'General' wrc bursary is available to ￿c undergraduate students. Thls is means
tested based on household income Icurrently the ceiling is £27,500 p.a.l. The General Bursary is
designed to be a bursary of last resort, after students have sought financial asslstance from
other sources
e.g. their church, family. other trusts. It can be applied for at the point of
application for a place to study. or once the place has been awarded. For students on Level 4
programmes IBA and CertHgi, up to 40% of their fee5 are available. For GradDip students (Level
61, up to 20% of programme fees are available. The General Bursary is funded our of general
funds.
Both ￿c bursaries are awarded for one year, and students can reapply for subsequentyears of
study if they still meet applicztion criteria.
The consultancy buslne55 has been operating for four years with two colleges Iwfc + one
external client) using the College Data Management System ICDMSI, and relationships being
built with other prospective clierits among the UK theological college markeL An additional two
clients signed Licence 8nd Support Agreements during the financial year, plus a further two
clients since then. This evidences the growng acceptance of the COMS as a tool which can add
significant value to colleges. seeking greater efficiency and data securlty in the current
challenging environmeni for Higher Education institutions.
The Trustee% and specifically the Finance 8 ￿l$k Committee of the Board, review operational
and external risk5 throughout the year in connection with running the Compan￿5 operations
and the mitigation of significant risks. They have identified recruitment of sufficient students
and ability to raise donations as the primary risks.
Our operating model is lean, and we have strong relationships with our partner churches and
our donors. Based upon wrc's Sirong fundraising history and growing network of donors, the
Trustees are confident that the company will have sufficient funding to cover the financial year
2025-2026. The level of donations raised during this financial year 2024-25 for both restricted
and unrestricted funds are evidence of this. Accordingly. these financial statements have been
prepared on a going concern basis.
Post balance sheet events
In common with other UK Higher Education Institutions we are rellant on gifts and donations
to supplement student fee income. The budget for the year to July 2026 highlights that
£250,000 extra funding is required to maintain current reserve levels into the next financial year.
The Trustees fully expect the funding gap to be met in line with ￿c,$ history of raising fund
In the 24ns academic year developments to enhance CDMS have continued, notably regarding
HESA reporting. This is a core feature for WTC Consulting current and future clients as well as
for ￿C. Since the start of 2024-25 ffinancial year, two additional clients have signed Licence and
Support Agreements for the CDMS, bringing the total CDMS eommunity to six as of Oct 2024.
These Licence and Support fees with make a real contribution to income in years to come.
Marketing continues with other potential client colleges.
Relat•d Parties
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WESTMINsfER THEOLOGICAL CENTRE
TRUSTEES. REPORT
YEAR ENDED 31 JULY2025
There are no related parties other than the Trustees and WTC Consulting Ltd.
The Charity has one charitable activity, namely the provision of theological education. The
Group includes the Charity and its subsidiary WFC Consulting Ltd. Any surplu5 income over
expenditure through consulting activitie4 will all be gifted to wrc to reduce the deficit
between cost of providing courses and income from student fees. The Trustees hève
determined that. for the foreseeable future, any positive reserves will be accumulated and
retained to finance the Charity's 9rts￿h and ability to offer bursaries to students. General fund
reserves decreased by £56,448 to Q14,090 over the year to 31 July 2025. A key target for the
Trustees is to build up gerieral reserve5 over the following three years to a minimum of 3
months, salary plus full year Faculty pay and marking costs.
Publlc b•n•flt
The Tru5tee5 have had regard to the Charity Commissioner's guidance on public benefit.
Statement of Trustee$. responslbllStl•s
The Trustees, who are also the Directors. are responsible for preparing the annual report and the
financial statements in accordance with applicable law and United Kingdom Generally
Accepted Accounting Practlce.
The law applicable to charities in England and Wales requires the Trustees to prepare financial
statements for each year which give a true and fair view of the situation of the Charity and of
the incoming resources and application of resources, of the Charity for that period. In preparing
the financlal statement& the Trustees are required to..
select suitable accounting policies and then apply them consislently,
observe the methods and principles in the applicable Charities SORP.,
makejudgement5 and estimates that are reasonable and prudent.,
state whether applicable accounting standards have been followed, subject to any
material departures that must be dlsclosed and explained in the financial statements.,
prepare the financial statements on the going concern basis unle55 It is inappropriate to
presume that the Charity will continue in business.
The Trustees are responsible for keeping proper accounting records that diselose with
reasonable accuracy at any time the financial position of the Charity and to enable them to
ensure that the financial statements comply with the Charities Act 2011, the applicable Charities
IAccounts and Reports) Regulations. and the provisions of the Charity deed. They are also
responsible for safeguarding the assets of the Charity and taking reasonable steps for the
prevention and detection of fraud and other irregularitie
The Trustees are responsible for the maintenance and integrity of the Charity and flnancial
information included in the Charit￿$ website In accordance with legislation in the United
Kingdom governing the preparation and di55emination of financial statement
Statement a$ to Dlgclosur• to our Auditors
In so tsr as the Trustees are aware at the time of approving our Trustees, annual report-.
there is no relevant informatlon. being information needed by the Auditor in connection
with preparing their report. of which the Auditor is unaware, and
the Trustees having made enquiries of fellow Directors and the Auditor that they ought
to have individually taken, have each taker) all steps that helshe is obliged to take as
Director in order to make themselves aware of any relevant audit information and to
establish that the Auditor is aware of that information.
li

WEsfMINsfER THEOLOGICAL CENTRE
TRUSTEES. REPORT
YEAR ENDED 31 JULY 2025
Small cornpany exemptions
In preparing this report the Trustees have taken advantage of
the special provisions relating to small companies within Part 15 of the Companies Act 2006.
Slgn•d on b•half of the Trustees
Chair
J DUDGEON
Date
12

WESTMINSTER THEOLOGICAL CENfAE
TRUSTEES, REPORT
YEAR ENDED 31 JULY 202S
OpSnlon
We have audited the financial statements of Westminsler Theological Centre for the year ended
31 July 2025, which comprise the Consolidated Statement of Financial Activities, the
Con501idated and Parent Charitable Company Balance Sheets, the Consolidated Statement of
Cash Flows and tho Notes to the Financial Statements, including a Summary of significant
accounting policies. The financial reporting fr8mework that has been applied in their
preparation is applicable law and United Kingdom Accounting Standards, including Financial
rèeporting Standard 102'The Financial fieporting Standard applicable in the UK and Republic of
Ireland, Iunited Kingdom General￿ Accepted Accounting Practice).
In our opinion, the financial statements.
give a true and fair view of the state of the Group's and the parent Charitable Companys
affairs as at 31 July 2025. and of the Group's incoming resources and application of
resources, including its income and expenditure, for theyear then ended.,
have been properw prepared in accordance wlth United Kingdom Generally Accepted
Accounting Practice,. and
have been prepared in accordance with the requirements of the Companies Act 2006
and the Charities Act 2011.
Basls for oplnlon
We conducted our audit in accordance with International Standards on Auditing IUKI IISAS
IUKII and applicable law. Our responsibilities under those standards are further described in the
auditor's responsibilities for the audit of the financial statements section of our report. We are
independent of the charity in accordance with the ethical requirement5 th3t are relevant to our
audit of the financial statements in the UK including the Financial Reporting Council's Ethical
Standard, and we have fulfilled our other ethical responsibilities in accordance with these
requirements. We believe that the audit evidence we have obtained is sufficient and
appropriate to provide 8 basis for our opinion.
conclus14￿$ r•latlng to 90ing concern
In auditing the ffnancial statements, we have Concluded that the trustees. use of the going
concern basi5 of accounting in the preparatiori of the financial statements is appropriate.
Based on the work we have performed. we have not identified any material uncertainties
relating to events or conditions that, individually or collectively, may cast significant doubt on
the companys ability to continue a5 3 going concern for a period of at least twelve months from
when the original financial Statements were authorised for issue.
Our responsibilities and the responsibilities of the trustees with respect to going concern arè
described in the relevant sections of this report.
Oth•r Information
The other information comprises the information included in the Trustees, annual report, other
than the financial statement5 and our auditor's report thereon. The Trustees are responsible for
the other information. Our opinion on the financial statements does not cover the other
information and. except to the extent otherwise explicitly stated in our repor( we do not express
any form of assurance conclusion thereon.
In connection with our audit of the financial statement& our responsibility is to read the other
information and, in doing 50, consider whether the other information is materially inconsistent
with the financial staternents or our knowledge obtained in the audit or otherwise appears to
be materially misstated. If we identify such material inconsistencies or apparent material
misstatements, we are required to determine whether there is a material mis￿aternent in the
financial statements or a material missiètement of the other information. If, based on the work
we have performed, we conclude that there is a rnaterial misstatement of this other
information, we are required to report that fact.
13

WESTMINSTER THEOLOGICAL CENTRE
TRUSTEES, REPORT
YEAR ENDED 31 JULY 2025
We have nothing to report in this regard.
14

WESTMINSTER THEOLOGICAL CEl￿RE
INDEPENDENT AUDITORS. REPORT
YEAR ENDED 31 JULY 202S
Oplnlon on other matter pres¢rlbed by th• Compan1•5 Act 2006
In our opinion the information given in the Trustees, Annual Report for the financlal year for
which the financial statements are prepared is consistent with the financial staternent5.
the information given in the Trustees, Report for the financial year for which the financial
statements are prepèred is consistent with the financial statements., and
the Trustees, Report has been prepared in accordance with applicable legal
requirements.
Matters on which 4re requlr¢d to r•port by •xeeption
In the light of the knowledge arnd understanding of the charity and its environment obtained in
the course of the audit. we have not identified material misstatements in the Trustees, annual
report.
We have nothing to report in respect of the following matters where the Companies Act
2006 and the Charities Act 2011 requires us to report to you if, in our opinion..
the Charitable Company ha5 not kept adequate 8nd sufficient accounting records, or
returns adequate for our audit have not been received from branches not visited by us.,
or
the Charitable Company financial statements are not in agreement with the accounting
records and returns., or
certain disclosures of Trustees, remurieration specified by law are not made.. or
we have not received all the information and explanations we require for our audit,. or
the Trustees were not entitled to prepare the financial statements 3nd the Truste6s'
Annu31 Report in accordance with the small companies regime and take advantage of
the Small companies exemption from the requirement to prepare a Strategic Report.
R•sponsibilities of Trustees
As explained more fully in the statement of Trustees, responsibilities set out in the Trustees,
annu81 report, the Trustees are responsible for the preparation of the financial statements and
for being satisfied that they give a true and fair view, and for such internal control as the
Trustees determine is necessary to enable the preparation of financial statements that are free
from material misstatemenL whether due to fraud or error.
In preparlng the financial statements, the Trustees are responsible fr>r assessing the CoMpan￿S
ability to continue as a goin9 concern, disclosirig, as applicable, matters related to going
concern and using the going concern basis of accounting unless the Trustees either intend to
liquidate the charitable company or to cease operations or have no realistic alternative but to
do so.
Auditorfs responslblliti•s for the audit of the flnanclal stat•m•nts
Our objectives are to obtain reasonable assurance about whether the financial statements as a
whole are free from material misstatement, whether due to fraud or error. and to Issue an
auditorfs report that includes our opinion. Reasonable assurance is a high level of 85surance, but
is not a guaraniee that an audit conducted in accordance with ISAS IUKI will always detect
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 economic decisions of users taken on the basis of these financial statement&
The extent to which our procedures are capablè of detecting irregularities. including fraud is
detailed below..
We assessed the susceptibility of the charivs financial statements to material misstatement,
including obtaining an understanding of how fraud might occur, by.
making enquiries of management as to where they considered there was susceptibility
to fraud, their knowledge of actual, suspected and alleged fraud,. and
considering the irTrternal controls in place to mitigate risks of fraud and non-compliance
with laws and regulation
15

WESTMINSTER THEOLOGICAL CENTRE
INDEPENDENT AUDITOAS. REPORT
YEAR ENDED 313ULY 2025
A further description of our responsibilities for the audit of the financial statements is located on
the Financial Reporting Council's website at WWN.frc.or
3uditors¥es
nsibilitie& This
description forms pan of our auditor's report.
Use of our report
This report is made solely to thé charitable companVs members, as a body. in accordance wth
Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we
might state to the charitable company's members and trustees those matter5 we are required
to 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 charitable company,
the charitable cornpany's members as 8 body and the charitable companys trustees as a body,
ft>r our audit worK for this report. or for the opinions we have formed.
0510212026
Date
Scott Lawrence FCA
(Senlor Statutory Auditorl
For and on behalf of
Hazlewoods LLP
Statutory Auditor
Cheltenham
GL5l OUX
16

WESTMINsfER THEOLOGICAL CENTRE
CONSOLIDATED STATEMENT OF GASH FLOW
YEAR ENDED 31 JULY 202$
St4tsment of Flnanclal A¢tSvftl•s Ilneludlng Ineome and Expendltur• aeeount)
Notes Unr•strlrted
Funds
Resirlcted
Funds
T*)tal 2025
Total
2024
Income from:
Donations
Investments
Charitable
activities
Trading income
Other income
158,076
4,299
892303
104.408
262,484
4,299
892303
350,050
8,266
135,100
36,361
135,100
36561
46.200
65,898
Total Income
1226,139
I04hO8
IJUI24
Expènditure on:
Dirert costs
Administration
costs
Fundraising
costs
1801.3821
1473,9951
006,9181
18,5731
1908,3001
1482.5681
1835,6111
1389,6271
P,0551
P,1861
113,8281
Total
expenditure
0377h32)
DI￿22)
OJ93.054}
0339,066}
Transfers
Net movement
tsn funds
151393)
01,2141
IW07)
85058
Total funds bfvd
at l August
172,049
%358
228.407
145349
Total funds
clhvd at 31 July
14
120,756
144
165,900
The statement of financial activities include5 all gains and losses in the year.
All the above amounts derive frorn continuing activities,
17

WESTMINsfER THEOLOGICAL CENTRE
CONSOLIDATED STATEMENT OF CASH FLOW
YEAR ENDED 31 JULY 2025
Company R•glstratlon Number. 06506007
Balan¢• Shmt
Group
2024
CharSty
2024
2025
2025
Notes
FIXED ASSErs
Tangible Assets
Investment
2.023
2,023
100
ioo
CURRENT ASSETS
Debtor5
Cash at bank and in hand
io
150,915
217.777
85,674
316,732
259,989
172,699
16S,SOI
288,985
368,692
402.406
432,688
454.486
NEf UABILITIES:
Creditor5 and accruals
1204,8151
D73,9991
U83,0941
IIT2,5991
CURRENT ASSETS
163.877
228,407
249,594
281.887
NEf ASSETS {LIABILITIES}
164900
251.717
281W7
FUNDS OFThE GROUP
Unr•strirt•d Funds
General
Re5trlcted funds
120.756
45,144
172,049
56,358
206,573
45.144
225,629
S6J58
14
165900
228h07
251.717
261￿7
The Trustees have prepared group accounts in accordance wth section 398 ofthe Companies
Act 2006 and sertion 138 of the Charities Act 2011. These financial statemerit5 have been
prepared in accordance with the provisions applicable to companies Subject to the small
companies regime and In accordance with Frès102 SORP.
As permitted by section 408 Companies Act 2006, the parent charitable CoMpan￿S statèment
of financial activities has not been included in these financial statements. its, result for the
financial year was a deficit of UO,27012024- surplus of all,5511.
The financial statements ware approved by the Trustees on . 1111212025
and signed on its behalf ty.
J DUDGEON
The notes on pages 17 to 23 form part of these financial siatements.
18

WESTMINSTER THEOLOGICAL CENTRE
CONSOLIDATED STATEMENT OF G4SH FLOW
YEAR ENDED 31 JULY 202S
2025
2024
Cash used In operatlng activltles (from b•14)wl
195,9201
,669
Cash flows from Investlng actlvltles:
Purchase of tangible fixed assets
13,0351
Increase/ldecreasel in cash and cash equivalents
in the year
198,9S51
,669
Cash and cash equivalents at the beginning of
the year
6,732
245.063
ash and eash •qulval•nts at the end of the
year
217,TT7
316,732
RECONCIUATION OF NEf MoVEmETr￿ IN
FUNDS TO NET CASH INFLOW FROM
OPERATING AcfiviTIES
Net movement In funds b•for• galns I Ilossesl
Ilncreasel in debtors
Increase/ldecreasel in creditors
Depreciation of tarngible fixed assets
1625071
165,2411
30,816
1.012
83,059
(16,6451
5,255
Net eash Fromllused in) operatlng actlvlt1•5
195.9201
71,669
19

WESTMINSTER THEOLOGICAL CENTRE
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 51 JULY 2025
NOTES
I. ACCOUNTING POLICIES
#) Basis of prgp•ratlon
The financial statements have been prepared in accordance wlth Accounting and
rieporting by Charitle5'. Statement of fiecommended Practice applicable to charities
preparing their financial statements in accordance with the Financial Reporting
Standard applicable in the UK and Republic of Ireland IFRS 1021- ICh8rities SORP IFRS
70211, thè Financial Reporting Standard applicable in the UK and Republic of Irèland
IFRS 1021 and the Companies Act 2006.
Westminster Theological Centre meets the definition of a public benefit entity. Assets
and liabilities are initially recognised at historical cost or tran￿ctIon value unless
otherwise stated in the relevant accounting policy notelsl.
b) Basis of consolidation
The consolidated financial statements con501idate the financial statements of the
Charity and its subsidiary undertaking drawn up to 31 July 2025.
A subsidiary is an entity controlled by the Charity. Control is achieved where the Charity
has the power to govern the financial and operating policie5 of an entity so as to obiain
benefits from its activities. Where necessary. adjustments are made to the financial
statements of subsidiaries to bring their accountirig policies into line with those used
by the Group. Inter-cornpany transaction5 and balances, between the Charity and It5
subsidiaries, are eliminated in full. Accounting policies of subsidiaries have been
changed where necessary to ensure consistency with the policies adopted by the
Group.
) Golng ¢onc•rn
As mentioned in the Trustees, Report, in common with other theological colleges, the
charitable Company is reliant on gifts and donation5 to supplement siudent fee
income. As at the time of approving these financial statements, donations sufficient to
cover a full twelve months of net expenditure have not yet been fully raised. Th
Directors consider it likely that the funds needed over the next 12 months will be raised.-
Accordingly, the Directors have prepared these financial statements on the going
concern basis.
dl Donatlons
Donations received for the general purposes of the charitable company are included as
unrestricted funds.
Donations for activities f￿rIcted by the wishes of the donor are included as restricted
funds.
DonatlOn5 are accounted for when received unless a donation is receivable to which
the charitable company has an absolute leg31 entitlement, in which case it is
accounted for at the earlier of the date received or the date the absolute entitlement
crystallised.
el Student f••s
Student fees are accounted for on an accruals basis. Any student fee5 received in
advance are reflected as deferied income until the term to whlch they relate
commence&
Rewure•s •xpended and allocatlon of costs
lil Expenditure is included on an a¢crua15 ba51
lill Cost of student fees is directly attributable to the delivery of course
20

WESTMINSTER THEOLOGICAL CENTRE
NOTES TO TrIE FINANCIAL STATEMENTS
YEAR ENDED 31 JULY 2025
The charity has one operational activity, the provision of further education. The majority
of administrative costs are attributable to the provision of further education with any
profits from the consultancy also being returned to th& charity for its core activity.
I. ACCOUNTING POLICIES Icontlnu•dl
g) Flxed assets
Depreciation is provided on all tangible fixed assets at ratés calculated to write off each
asset over its expected useful life, as follows..
Leasehold improvements
Computers & other equipment
straight line over 3years
straight line over 3 years
h) Forelgn curr•nel•s
Transactions in foreign currencies are translated irito sterling at a stand8rdised rate
through the accounting period. Monetary assets and liabilities denominated in foreign
currencies are translated into sterling at rates of exchange ruling at the balance sheet
date, with the exchange gains and losses that arise from that being recognised in the
statement of financial actimties each year.
11 Leases
Rentals under operating lease5 are charged to the statement of financial activities on a
straight-line ba515 over the lease term.
I FINANCIAL PERFOFIMAMCE OF THE CHARITY
The consolidated statement of financlal actwities includes the results of the Chariws
wholly owned subsidiary, wrc Consulting Limited, which operates as a consultancy
undertaking including the promsion and development of a College Data Management
System. As permitted by section 408 Companies Act 2006, the parent charitable
companys statement of financ*al actwities has not beern included in these financial
statements. Its deficit for the financial year was a deficit of £30,270 12024 - surplus of
11,5511.
3. INCOME
Income from Donations was £262.48412024.. ￿50,050) of which a04.408 was restricted
12024.. ￿46,8891. Income from charitable activities was £892.30312024.. £851.TOI, £nil of
which was restricted 12024.. £nill. Income from WTC Consulting was £35,100 12024..
£46,200>. £nil of which was restricted 12024.. £nill. Other income was £36,361 12024..
£6S,8981. Donations from Trustees totalled 02.164 12024.. ￿9,655) including the
associated gift aid.
EXPENDITURE ON CHARITA8LE AcfiviTIES
2025
2024
Provlslon of COU￿?9
Staff and contractors
Residentials
Books and bought Iri Services
8ad debt write off
Validation and accreditation fres
Hub fees and costs
328293
205,875
6302
340.573
194.399
1,207
ioi
80,205
94,574
82,616
83,618
21

WESTMINsfER THEOLOGICAL CENTRE
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 51 JULY 2025
8ursaries awarded
Prison project
Interpreter costs
T2,215
17,753
11,095
807.767
63.012
774,0
wrc Consulting Dirert Costs
Staff and contractors
iOO.S33
,540
100533
,540
Admlnlstratlv• Costs
Bank charges
Staff
Staff training
Office and travel
Legal and professional
Depreciation
Prison project (excl stam
1.684
2T7,584
9,78S
141.461
51.042
1,012
I,oJ
240,301
9,302
116.201
21,997
805
482568
389,627
Fundralslng Costs
Asso¢iated fundraising
2,186
73,828
1186
13.828
TOTAL
IJ93.OS4
1239,066
£4459,63312024'. £376.4751 of the administration costs are attributed to the provision of
further education, and £22.935 12024.. a3,1521 to WTC Consulting Ltd. Any surplus
income over expenditure through consulting activities vwll all be gifted to to reduce
the deficit between cost of providing courses and income from student fees.
Expenditure from charitable activities in 2025 was £1225,Tr7 of which alS,622 (2024..
,164,374 of which E79.4791 wa5 from restricted fund&
STAFF COSTS AND NUMBERS
2024
15
Number of Employees (Average)
15
Gross Salariè5
National Insurance Contributions
Pension Contributions
491,462
34.393
20,953
442,083
34,233
19334
546,808
495,650
22

WEsfMINsfER THEOLOGICAL CENTRE
NOTES TO THE FINANCIAL STATEME1￿5
YEAR ENDED JF JULY 2025
Subcontract
75,699
146,764
641414
The key management personnel of the Charity comprise the Principal. President (newly
created during 2024, replacing the Vice-principall, the Chief Operating Officer and the
Finance Director theri Controller. Their total remuneration in the year was a66,946
12024., E208.0721.
No employees were paid a salary of more than £60,000 during theye3r12024.. One
employee).
& NET INCOMING RESOURCES FOR THE PERIOD
2025
2024
Net incoming re50urce5 IS stated after charging..
Auditors, remuneration
6.$00
11,300
7. TAXATION
All income of the charitable company falls within the exemptions afforded to corporate
charities and charit3ble trusts by Sections 478 and 479 Corporation Tax Act 2010 and
Sections 524 and 525 Income Tax Act 2007 and there is no corporation tax payable by the
Charity's trading subsidiary.
TANGIBLE FIXED ASSETS
Croup and Charity
L#asehold
Improvements
C¢mputerl
Elec Eqmt
Total
COST OR VALVATION
At l August 2024
Addition5
Disposals
At 31 July 2025
7,868
17.787
3,035
17,787
3,035
25,655
3,035
25,655
3,035
DEPRECIATION
At l August 2024
Charge for year
Eliminated on dlsp05al
At 31 July 2025
7,868
17,787
1,012
7,787
1,012
25,65S
1,012
S,655
1,012
NET BOOKVALUE
At l August 2024
At 31 July 2025
1023
2,023
23

WESTMINSTER THEOLOCICAL CEKfRE
NOTES TO THE FINANCIAL STATEMEp¥rs
YEAR ENDED 31 JULY 2025
9. INVEsfMENTS
2025
2024
Invèstment in subsidiary
ioo
ioo
The wholly owned subsidiary, wrc Consulting Ltd, is a company registered in England
and Wales. It is used to operate the non-charitable activities of Westminster Theological
Centre. WTC Consulting Ltd has 100 shares of 0 in issue, which is held by Westminster
Theological Centre. The results for the period to 31 July 2025 wa5 a 105s of £32,23712024'.
loss of £28.4921. The losse5 incurred relate to investment in the development of the
CDMS 50ftware which the Board fully expect to recover from future licence fee income.
10. DEBTORS
Croup
2025
2024
Ch•rlty
2025
2024
Account5 receivable
Prepayments and accrued income
Amounts owed by subsidiary
Other debtors
9.826 23,977
132,589
S3.197
9,826
130,595
111.068
8500
23.977
51,410
81.614
8,500
8500
8,500
150,915 85.674
2S9,989
765￿07
11. NET UABILITIES: creditors and aecruals
Group
2025
2024
Charlty
2025
2024
Trade creditors
Accruals & deferred ir)come
Other creditors
18,539
160,760
25,516
447
162.242
5,310
6,447
160.842
5310
159,258
19,582
204815 175999
183,094 171599
11 FINANCIAL COMMITMENTS
Group and Charity
At 31 luly 2025 wrc was committed to making the following payments under non-
cancellable operating leases in the year
2025
2024
Arnount due within one year
Amount due within one to two years
20.000
20.000
20,1)00
24

WESTMINsfER THEOLOGICAL CENTRE
NOTES TO THE FINANCIAL STATEMETr¥rs
YEAR ENDED 31 JULY 2025
iJ. COMPANY UMITED BY GUARAKfEE
The company is limited by guarantee of members and does not have a share capital. The
liability of members is limited to U.
14 RESTRicfED FUNDS
The restricted funds held during the year are.,
al The Principal'5 Bursary Fund for funding studies by ex-offenders andlor ex-addicts.
bl The Bursaries Fund for subsidising fees of students with lower incomes.
cl The Interpreters fund for provision of sign language interpreters
dl The Prison Project fund is for income and expenditure related to wrc's pllot pr150n
projecL
el The WTC Media fund is for the development of a platform to support the
Foundations Course (Level 3 te3chingl and for future opportunitie5
The translation funding was to translate discipleship course material into Farsi from
English language.
gl The Office for Students IOfSI fund is for costs related to registratiori with the Ofs. The
transfer in the prior year was due to several donors confirming that the money could
be designated rather than Te5tricted for that purpose.
8rou9ht
forward
Incoming
resources
Outgolng
rex¥urces
Carried
forward
Transfers
Fund
Principal s Bursary
23,025
25,245
132,4851
15.785
Bursaries Fund
27,055
15,668
139,7301
1993
Interpreter Support
1,750
4250
16,0001
Prisons Project
4528
53,745
134,1221
24.1
wrc Media
5,1100
12,7851
2.215
Translation of
eour5e
500
15001
Totsls
56J58
104408
OiS622)
45.144
I restricted fund as*ts are held as current assets.
2S

WESTMINsfER THEOLOGICAL CENTRE
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 51 JULY 2025
Prioryear comparatives..
Brought
forward
Ineomln9
Outgoin9
Carried
forward
Transfer$
Fund
Principal's Bursary
25,735
19,070
121.7801
23,025
Bursaries Fund
26.404
23,855
123,2041
27,055
Interpreter Support
1,250
1.750
Office for Students
86.250
120.6611
165,5891
study Skills
io.000
00,0001
Prisons Project
6,464
V,9361
4.528
Other income
1,898
,8981
Totals
I& TRUSTEES REMUNEIIATION AND RELATED PARTIES
£nil rernuneration was paid or waived by any tru￿ee during the year in respect of their
duties as Trustees12024- £nill.
Total donations made by Trusteès in the year were all64 12024.. £1,400) including the
associated Gift Aid.
26