THE MARGARET BEAUFORT INSTITUTE OF THEOLOGY

Company limited by guarantee

Company Registration Number:
02958069 (England and Wales)

Unaudited statutory accounts for the year ended 31 August 2024

Period of accounts

Start date: 1 September 2023

End date: 31 August 2024

THE MARGARET BEAUFORT INSTITUTE OF THEOLOGY

Contents of the Financial Statements

for the Period Ended 31 August 2024

Directors report
Balance sheet
Additional notes
Balance sheet notes

THE MARGARET BEAUFORT INSTITUTE OF THEOLOGY

Directors' report period ended 31 August 2024

The directors present their report with the financial statements of the company for the period ended 31 August 2024

Directors

The directors shown below have held office during the whole of the period from
1 September 2023 to 31 August 2024

Claire Daunton
Sandy Lynam
Mark Broadbent
Joanne Coward
Eilis Ferran
Jennifer Schooling


The director shown below has held office during the period of
1 September 2023 to 20 November 2023

Loughlin Hickey


The director shown below has held office during the period of
14 March 2024 to 31 August 2024

Anthony Carey


Secretary Elisabeth Stevens

The above report has been prepared in accordance with the special provisions in part 15 of the Companies Act 2006

This report was approved by the board of directors on
7 February 2025

And signed on behalf of the board by:
Name: Claire Daunton
Status: Director

THE MARGARET BEAUFORT INSTITUTE OF THEOLOGY

Balance sheet

As at 31 August 2024

Notes 2024 2023


£

£
Fixed assets
Intangible assets:   0 0
Tangible assets: 3 20,521 8,597
Investments: 4 10,162,590 141,506
Total fixed assets: 10,183,111 150,103
Current assets
Stocks:   0 0
Debtors: 5 12,966 18,517
Cash at bank and in hand: 962,414 10,525,477
Investments:   0 0
Total current assets: 975,380 10,543,994
Prepayments and accrued income: 0 0
Creditors: amounts falling due within one year: 6 ( 64,925 ) ( 275,677 )
Net current assets (liabilities): 910,455 10,268,317
Total assets less current liabilities: 11,093,566 10,418,420
Creditors: amounts falling due after more than one year:   0 0
Provision for liabilities: 0 0
Accruals and deferred income: 0 0
Total net assets (liabilities): 11,093,566 10,418,420
Members' funds
Profit and loss account: 11,093,566 10,418,420
Total members' funds: 11,093,566 10,418,420

The notes form part of these financial statements

THE MARGARET BEAUFORT INSTITUTE OF THEOLOGY

Balance sheet statements

For the year ending 31 August 2024 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen not to file a copy of the company's profit and loss account.

This report was approved by the board of directors on 2 May 2025
and signed on behalf of the board by:

Name: Mark Broadbent
Status: Director

The notes form part of these financial statements

THE MARGARET BEAUFORT INSTITUTE OF THEOLOGY

Notes to the Financial Statements

for the Period Ended 31 August 2024

  • 1. Accounting policies

    Basis of measurement and preparation

    These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

    Tangible fixed assets depreciation policy

    Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses. 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: Equipment Straight line over 4 years Furniture & fittings Straight line over 4 years Website Straight line over 4 years The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.

    Other accounting policies

    Expenditure Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use. Fixed asset investments Fixed asset investments are initially measured at transaction price excluding transaction costs, and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in net income/(expenditure) for the year. Transaction costs are expensed as incurred. 1.8 Impairment of fixed assets At each reporting end date, the Institute reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Cash and cash equivalents Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities. Financial instruments The Institute has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments. Financial instruments are recognised in the Institute's balance sheet when the Institute becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. Basic financial assets Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised. Basic financial liabilities Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method. Derecognition of financial liabilities Financial liabilities are derecognised when the Institute’s contractual obligations expire or are discharged or cancelled.

THE MARGARET BEAUFORT INSTITUTE OF THEOLOGY

Notes to the Financial Statements

for the Period Ended 31 August 2024

  • 2. Employees

    2024 2023
    Average number of employees during the period 8 11

THE MARGARET BEAUFORT INSTITUTE OF THEOLOGY

Notes to the Financial Statements

for the Period Ended 31 August 2024

3. Tangible assets

Land & buildings Plant & machinery Fixtures & fittings Office equipment Motor vehicles Total
Cost £ £ £ £ £ £
At 1 September 2023 0 0 0 11,463 0 11,463
Additions 0 0 16,086 3,637 0 19,723
Disposals 0 0 0 0 0 0
Revaluations 0 0 0 0 0 0
Transfers 0 0 0 0 0 0
At 31 August 2024 0 0 16,086 15,100 0 31,186
Depreciation
At 1 September 2023 0 2,866 2,866
Charge for year 4,022 3,777 7,799
On disposals
Other adjustments
At 31 August 2024 4,022 6,643 10,665
Net book value
At 31 August 2024 0 0 12,064 8,457 0 20,521
At 31 August 2023 0 0 0 8,597 0 8,597

THE MARGARET BEAUFORT INSTITUTE OF THEOLOGY

Notes to the Financial Statements

for the Period Ended 31 August 2024

4. Fixed assets investments note

Cost or valuation At 1 September 2023 141,506 Additions 9,500,000 Valuation changes 521,084 At 31 August 2024 10,162,590 Carrying amount At 31 August 2024 10,162,590 At 31 August 2023 141,506

THE MARGARET BEAUFORT INSTITUTE OF THEOLOGY

Notes to the Financial Statements

for the Period Ended 31 August 2024

5. Debtors

2024 2023
£ £
Trade debtors 0 0
Prepayments and accrued income 0 0
Other debtors 12,966 18,517
Total 12,966 18,517
Debtors due after more than one year: 0 0

THE MARGARET BEAUFORT INSTITUTE OF THEOLOGY

Notes to the Financial Statements

for the Period Ended 31 August 2024

6. Creditors: amounts falling due within one year note

2024 2023
£ £
Bank loans and overdrafts 0 0
Amounts due under finance leases and hire purchase contracts 0 0
Trade creditors 0 0
Taxation and social security 0 0
Accruals and deferred income 64,925 47,665
Other creditors 0 228,012
Total 64,925 275,677