Charity Number.. 1010405 Tlie UtLiVtrsity of Westminster Prizo gnd ScholAr8tLiP Fun Report And FiDRnci*I Stattments For the year ended 31 July 2025
THE UNIVERsrtY OF WESTMINSTER PRIZE AND SCHOLARSHIP FUND REPORT AND FINANCIAL STAT[][.1.s 2025 CON'fEN'IS lJ8gt Reference and adminislT&live deiails Repori of Ihe Triislee St&tetneDI ofTwslee% TespMsibiliti£% Indepcnd¢ni Auditor's Report io the In151¥e of The University of Weskniinsier Prize 2nd Srholatsliip Fund Statnei of finèn¢ial aciivilies Balattee sheet N¢$ lothE Accounts 14
THE UNIVERSITY OF WESTMINSTER PRIZE AND SCHOLARSHIP FUND REFCRINCE AND ADJTrIJNISTRA'fivE DETAILS TRUSTEK lThe UMiv¢rsiiy of we11n$trr Diitr¢iois'. Mr D Airdn (Tesigned 30 June 20251 Mr A Ajayi (resigned 31 Mar¢li 20251 Ms V C Rarloii lappoTni¢d 01 Jiily 20251 Mr J P Ball lapwiiited 01 Aptil 20251 Mi JJ C Bairamaii Ir1817Bd 31 Mar¢li 2025} M5 A Il¢rtanc lappoini¢d 01 April 20251 'rofc5s0r L Bctry Ptofessor P Boiifield Ms C L Brad5hHiv IAppoinled 01 April 20251 Ndr C Dhapalkar IresiBtted30 June 20251 M5 J M Figiier8s IAppoinlid 01 April 20251 Mr S J Ford (Hpwiiiied IM Oclobcr 20241 Ms v f051er Ircsign¢d 28 No*rtbcr 20241 Mr S Griffilhs M5 N Giirurani lappoiiilcd 01 April 20251 Ms S Hafecz Iresigned 03 Ociober 20241 Mr'l. K Janies lappoini¢d on 01 April 20251 Dr S Jarvis (resigned 31 July20251 M5JKh Ms C Morgan Mr A U Miisani (Bpwinled 01 July 20251 MrT c'foumazis Ms S Shabbir Ms L Phillip5 IT¢Si4n¢d 31 Augusi 20241 Miss J Robson-Ellanchaid Professor r Ross (resied 31 Mar¢li 20251 M¥ H G 8iiiiwn lappoini¢d l Aiigust 20241 Mr M X WanglFesigncd)I M8Tch 20251 University Secretary andcljief OpEiatin8 0(fieer Mr l M Wilffloll University Sc¢retary Mr D Rslubbs lappoinled 05 Marth 20251 AIII)ITOR KPMG LLP IS Callada Square Canary Wharf Lonth)n E14 5GL BANKIRS National Wttsiminster Bank Pl¢ P O BDx 3038 57 Victoria Slrctl London SWIH QHN Lloyds Rsiik PIC 25 Greshani sireel Loth EC2V 7HN PRINLII)AL OFFICE 309 Regcni Streel London WIB 2HW C.IIARITY NUITr]IIER 1010405
THE UNIVERSITY OF WESTMINSTER PRIZE APJD SCHOLARSHIP FUND RLPOIIT ofTHK TiiusrEc The Iriis1¢¢ submits ils repDrt und the audited finan¢ial siaiements for the year ¢nded 31 July 2025 for th¢ Uiiiver5ityof Weslininsi¢r Prize aiid Scholarsliip Fiiiid, a regislucd chariiyno. 1010405. STRUCTURE. GOVERNANCE AND MANAGEMEiYT llic Icgal fomi of t1 fuiid is thai org I'rusl Bovcrned by'lrlt Deed. The Finafj¢ial Stsieinents have beeii prepared in ac¢ordaii¢¢ witli llie Trusl De¢d, oiid the reqiiireill¢ni$ oftlie Stsieineiil of Rcwiiiniended Practicc'A¢¢ouiiiiiig niid Jieporting by Charilits'¢ffeetive l Jaiiu3ry 2019 and ijublislkd in O¢iobtr 2019. ThE Uniyersiiy of Wesltninslei Prii.e and Scliolarshii) fiiiid ts Irealed as a fixcd ass¢1 IiivestilII ivilhin lh¢ Uiiiversity ol Weslnii11skf, 8nd lis Yesulls for Ihis fingn¢i81 year are ¢ortsolida¢ed iiilo the Univtrsi¢y ofweslminslrr Gyoup fiiiancial Slatetnents. The Iii151c¢ is tommilld to implem¢niinB aregular, at leasi aniiual, revieiy of Ihe si8nificaiii risk5 affccling lh¢ 01tIoOr tIieTrU. The trle¢ll8S consideted 51Kh risks 8nd i5 confidcnl thai adequate conlTols are in pl8ce lo mili8aie ihese risks. 'rh¢'lrust hss no emplow. Aikninislraliw fvtieiioiis are c(Midii¢lid by LI Universily ofw¢siminsler on 115 b¢half. Th¢ Universiiy of westiniler'sSI8frSpendS only parl of11il li11 prrfoming Iliese fictionS for die Tnjsl. AUDITORS KPMG LLP iY¢r¢ appointed 85 &iidiiors forihe year in &c¢OrdanWith the piovisions ofilie ChRrilies Aci 2011. PROVISION or INFOIIMATION TO AUI)I'I'OII.S 'I'he Irii8iee wlio held otYi¢¢ at i1 date of approval of tiieThsiee's Aiinual Reporl coiifirnis Iliai, so far as Ilicy arc aware, ther¢ is rto relevaiil auoil inforiiiaiioii ol'wliicli Ihc Tru,% auditors aic lliyarc,. and Ihetruslee has iaken all the slep5 Iliai Ihey OUBlil Iv luve iakeii s a Inisite to iiiake Ilietnselves awar¢of 8nyielevani audit inforjtvalion and 10 establisli Iliat IIK Tr¢.$ auditors ar¢ aivgre of lliat iiiforniaiion. OBJCCI'IVW:S ANI) AcfiviTIES Th¢ object ofthe Tnisl is I1 advaiicellienl ofedu¢ail bylhe awarding of prizes scholaiships tble &t the Univ¢Ysity of Wcsimirsier. le Iruslcr niay make rules for th¢ awardond lenns of the priles scholarships. T1 a%Yards ale niade on bchaifofihe TFUSI by a tksignaled cotnmilt. Tr"friEI ulldertake5 111¢$¢ 2Ctivilies ill ordcT 10 ¢arry olll thc objc¢ts for public b¢nefit. Triist achi¢$ lis objecl by rRising in¢ome ihroiigli inve51m¢ftts attd donBlions. The wustee confms thai Ihey liave complied iyiih lh¢ dilly iii seclioii 4 of th¢ Charitie5 Arl 2011 io have Tegard 10 the Cliarity Cornniissioii's ge1lJI 8uidan¢¢ ()n piiblic beiiefil. Th¢'Fwsi's eharilable purpose is conillined in ils objectives aiid aclivili¢s. 5 $¢1 oiii above. and p1ibl1¢be fil is realised Ihrough Ilie aivarding of prii.cs and scliolarship5 10 Sliideiil4 al th¢ unl[SI1Y of Weslminsler. ACIIIEVEfvIFNIS AND PERfoRINcE ieTr1151 received £77k lolal iii¢ome diwiiig the yefir including £72kofdivi(knd5 and interest in¥om¢ ott 115 inves1ent lolio ivbicli the Tnisl prin¢ipally dei)ends lu fiiiid winiial graiii aFvards. Triisiee coiilinuc5 10 mE)nilor ihe Trust'$ of £1 Ik ivas 8¢ncrated thriiig Ilieycar Compared to an unrealistd gain in ilie priur y¢ar of£47k. This lo¥¢il)er ivilh a I1 result from charlble activities, added £70k io Ilie TTU51's fiinds Ihai is availablc for grani msking.
THE UNIVERS1TY OF WESTMINSTf R PRIZE ANO SCHOLARSH1P FUND REPORT ofTHL I'RUSTEE ICONTINUEDI I,-INANCIAI. IILVIEW The resiills for Ili¢ y¢ar ar¢ thowi ill the Slalemenl of FinHn¢ial A¢iivities on page 12. The nei increas¢ in fiind5 of £70k 12024.. net lilease £73kl ewnii811y a result ora decrease in th¢ value of iiiveslinenls Rnd iiicrrllsed invesiineiil incoiiie received. The Trusl £705k ofgranls iii Ilie ycar canr¢ll¢d£715k including & gFalll of£359k iyhieh ivas 8%Yllrded iii Ilje ycar2022123. Inirsim¢ni iiiconic receilrd iyas £72k 12024.. £64kl. Tn the 2019no fjnaiicial ycHra rtvieivofall oflhe 5cliolDf5hip5 and PTiZ¢S was nducted. iYher¢ IheT¢ had been no expenditure iii et Icasi five financial years. to identify those fiinds ivhi¢h ivere ilia1Ve An inlernul liidil Ilieii took place lo deiennijie ihe original inlcnlions Dfihe donars i%lio esiablislied Ihcsc 5Eholarships ind prizes. of %vhi¢li dai¢d back pi¢ 1980£. Tlie [JnirSity Ihcn idcnlificd Current pmgraniines. '111¢h bBSI all¢ 10 lh¢ original inientions Dfilic dotiors aiid reoiiesied Ihal Ilk Ckarity G171550n UPPTOV¢ for funds be disbursed io IhcsL pro8r4mines froin Ilie2021122 finHn¢ial year The Charity Coiillnission appioved Ilie Iruste¢'s r¢quest to slrnlegically re311ocalc £1.6m of Ihe dnrniant funds Dnd draw doiyn Ilirni 0[ lh¢ five fin8MciDI years 2021122 10 2025126 for current proBrDtnnies whi¢h suppori shideiil Tecruilnienl Ilie Sludeni and conimumity experience al Wesiminsier. On ihe whole, these projecls arc ioiyards iiieaiis-lesled, inlenialionHI PhD sthvlarships atid prizes, I1Ve[, ther¢ ivas also a specific reqiiesl for n donalion bcqu¢aihcd for a di&1, whichthe CharilyC(xnini5sion a¢¢& Irllslees coiild repurwsc 10 resiore gn Oldcomptoii Organ. In the currcnl financial }'¢ar. Ihe tnislee Dpprovcd addilional graiiis of £705k12024.. £40kl foT drai¥ doivn froni ihe chBril&ble account in the ye#r2024f25 10 siipport educalioiial iiiilialiv¢s and eiiliwice ihe student expeti¢nc¢ ai le lJiiiversily of Westniinsler. DuEing Ihc ar yyjnents of £454k ivore InHdc lo cov¢r grini ¢oniinilineiils alld gran15 of£715k were eattcelled. Tli¢ lJiiiversity of WEMill51¢[ Prize gild ScliolDrship Fund h$ signifieatti uiipAid grAnl conlI1hen(S of£723k ai 31 Jiily 2025 of ivhich £547k is diig 10 be paid iii ilie fIn7cl1 year 2Q25r26 wii11 Ihe reiwdinB £176k 10 b¢ paid IL the I¥1 three finaiicial years 2026127 Ihiou8h lo 2028129. Of this iolal, £547k iyill bc pay¥ble in the Yeareli2025I26, £76k in th¢ financial year 2026127 Bnd £50k in ¢ach of the financial years 2027128 Dnd 2028129. As ai S l Jiily 2025 the fi]nd had reserves of£930k12024.. £860kl. The Uiiiversily of WeslminslcT Prize and Scholgrsliip Fund retsitts Un[eTICIed fundsof £545k. This is comprised of the Prize Ènd S¢liolJrship Funds estsblislied pre I l April 19W. These are used in pursiiii of Ole cljarity's objects and 10 Cor M¥aenienl aiid adlliiiiislralive cosls. 11 is the inieniion oftheTrust lo spend oui ih¢ assas ill Ilie iiexl 4 year5. The T1 had £993k of cash al bDnk ul ycllr ¢Md. The invcsitncnis h¢ld by IheTnist have been in¢luded ai markei v81ue in accoidance iyilh th¢ Siatemeni of RecomiKenckd Piactic¢ IAi¢oiiniiiig by Cliariliesl. Siirpliis liqiiid ?ss¢ig ofilieTrusi are mRnaged on brhilfofilie Tyust by the UnivcTsilyof Weslmin51¢r.'lThc iiivestillent policy is approY¢dby th¢ Irusi¢¢ and revielved frotn lin to ilme. The p)licy seEks 10 mirtimise risk ivhilsl allra¢iin8 satisfactory levels ofFelutn. The Trust has been ¢¢umulaiing reser5 yearon T}Vith Iheex¢¢piion ofihe year212123 wh¢tt (here was a graiil coijunitmelll InadL vf£i.6I11.'nTrI IKaiiilains ils rgservc5 for th¢ pur%iiit of ils objects alld lo ¢ortr &dminisirAlive 8lld Inanagemenl c051s. 'I'h¢ Inisiee has resolved that a Icvel ot-dis¢t¢iionary reserves IKld as ¢*sli or short-tenn invesimenis should be Jnamtaiiied ai a sthffi¢ieilt level to covei-ai least 12 niuiiiliy. ofaverAge scale adniiiiislialivr a¢iivily. This ivould eqiiaie io approxiinalrly £IOk. I'he Trll51 holds unreslricled of£545k 91 ihe b8ce sheet daie and Ihls is deemed lo be more thali sllfficicnl.
THE UNIVERSITY OF WESTMINSTER PRIZE AND SCHOLARSHIP FUND RF.foRT OF THE TRUSTEE Icontdl CHARifABLC AcfIvITJE5 This reporl describLs Ilie programines IIK Tnisl 5upporlcd duriii8 Ilie IBSI 12 months. Ividcning At¢ess lo Siiidy and Ivork AbTtra FDT Ili¢y¢Jr, t1 iniliativc lo exp8nd R¢¢ess 10 inicmalional expienceS conlinucd 10 rrOMI slronBly. iyiih ioial programi osls aTnounling 10 £52,700. TWD key prDje¢is iY¢r¢ delivered Global Futurc5 programme iii Kwila Lumpur alld Ihc GlobAI Sustainable Expetiencg in Am51erdam. Both prograinmes saw a si8nifi¢ani in¢rcase in appliealioiis coinparLxI 10 lasi ye8Y aiid direclly SilPPDrtcd the univeisity's objeclivvi Jrouiid incliisive Inobilily, shI¢l..1¢1.M iiiieri181ional exp-le17CCg, and SWlaliiJbility-focused leiming. In Ilie 2024125 fiiiaiieial year. Wesltniiisl¢T Workin8Ciiliiires IWWCI Intemalional utilis¢d £23,000 of the{k>ill doTh>r Funds lo supporl ¢55cnlil travel for ils global prOgrain¢s. Willi fltglil and 8ccoinniodalion Costs ¢oniinuing lo rise yfaT-on- year. Ihase fi$ helped cov¢r expeiises in key prosramme ¢iiies siielj as Miiiiibai, Hon¥ Kon8, Singapore aNd Toronto. Janks io Ihe donnanl dunor fiiiid, WWC ivas able lo Icspond 10 sl)iftin8operBlioiial costs iviihDiiI ¢oinproniising the scale or impacl ofour inilihlivcs. Most significantly. the funds suppord 113 W¥tniiii&ier sludeiits Iiave an iiiiem31ionRI experience across seveii diff¥i<nl probiraiiiines. These funds lielped crcal¢ n¢w 8lob81 leaniiijg opporfunilics, and deepen oiir siiidenis. en8agenienl iii global Contls. Hard$hlp Fllnd Tht Haritsliii) Fund received and fiilly Iiiilised lis fvndiiig of £30.000 for 2024r25.'Ihe gr2llt ivss used to supplcment and suppori Ihc eXtIng Ltviiig Expenses Suppori Scheme ILESSI and its varioiis sirands. This year, Ihe grant IY#s foeiised on siipporiiiig our Care Experienc¢d 51utknis iviili 301£1,0001 Care Leav£r Butsar¢¢s fiinded directly th¢ fid..11$ &ddilional h¢lp alloived Ilic LESS lo C[lInU¢ supporiitlg 2nd 81iplling ivilh the University Access and Participali1 Nat18 IAPPI siraiegy by targeiiiig vulnerdble SluLkiiis %viili necessllry finaiicial SllPPDrt. Accomniodlllion Grants received £35.000 fiiiidinB bul only £18,0 Ivss siicce55fiilly allo¢aied, as tlie schenie lJunch¢d later Ilian hopBd 50 th¢ volllme ofapplicati(MiS frotll 51ud¢nis in need. lias iiol beeii high a$ anticipated 'rhe RcconinM)diilion bursary Èranis supported sttidenls in Univusity see01nOlion whu are$iru881iiJ8 to pay their rent, enabling IIKni Iv fuiiLS 1Th)re eJTeciively on Ilieii sludi£s. The Weslminsier Burs8ry ivas Allocated £120,000 anj r¢eorded fiill expendiluTe iii 2024r25. The addi1101131 lldIng illoiY¢d lis lo conlinii¢ i)ayin8 Ilie iiplifted rale lo 600 sliid¢nis in Ilic loivesl income bta¢kcl.'Ihis project fUndg supported th¢ University APP sltui¢gy by targeiinB lde[rePreSented group5 ivitli addiiional financial suppiKI, alloiving incie35c in th¢ value of Ilie iiirreni W¢siininsr bllrs3ry. CLASS Schulrsliips Th¢ CLA.SS.%diolarsliips reCeId and fiilly uiilis¢d £20,000 in fiiiidiiig. Th¢ proj¢¢i aitned lo make additional aiyards under Ihecxi51ing Coniinue l.earning and Suc¢¢¢d in yoiir Sbidies (CLASSI s¢heme. Thrfe ivere one-oifscholarsliips ivorili £l.OOD e&ch aiid iyere op¢n to honie uiidergradiiale sliid¢nis #t Levels 6 iviili hoiisehold iiiconits below £25.IM)O. Thc Jward alloi these sliithnls lo r¢Jie ilieir pDld employmcni and focus on Iheir finBI yeRrstudies. Gtoff Pell% Pi'ize fvIatch The Geotrp¥tls Priirt Maich received aiid fiilly ¢xpcnd¢d £IO.000. This funding siipwrf¢d I I PhD students with ofup lo £l.000 tor inlcrnaiioiiil field trips. providing aulhtnli¢ l¢aming experiences lo rtsyardi'in tlk field. Tlie initiativ¢ UN Internships ie UN Inl¢tnships r¢¢¢ived 311d fiilly iililised £50,000 in 2024n5. Tliaiiks to t15¢ tiinds, lh¢ 2025 cohort of Weslniinsitr iiii¢rns ai United NBlioiis' Inkmaiional Org8llisalion for Migralioii IIOMI have ¢inbarkedon ilieir iiileniships. This y¢ar, IJ iiiierns have keli sclcclcd 10 ¢omplele loiig-lenn16-9 Inonthsl iiileniship5 al IOM olTices ivorldFvidc. In lolal, Ihc funds ivill be covering 102 mon11 of iiiiernship forouT Sludertls, eominencing beiTrve¢n May 8ndJune 2025 nd endirtg in th¢ first halfof2026. 'lTh¢ 1.1vig Expenscs Mainlcnan¢¢ S¢liolarship IVBS allocated £4.000. This fynding ivas ulilised support PoSi8radi1¢ $10(l¢nis in f1113ncial elli¥rg¢n¢y need. £4.000 retnains lo be sp¥ni in 2025126. MAtch fiiindlile foi. HArdship iis year, iiilrodu¢¢d A Match Funding iiiiliali 10 bowtcontribulioiis lo llie Univ¢rsiiy's H8rdsliip Fund. supportlllg siudents iinpaclcd by Ilic on8Oltig cost-of-living crisis. Thc iniliaiiv¢ iY8s &lloc&led £50,000 for 2024125, of iyhich £13.200 vas eKJKnded, Ivith th¢ remaining fttllds deferr¥d for use in Ilie folloivingyenr.
THE UNIVERSITY OF WEsfMINSTER PRIZE AND SCHOLARSHIP FUND REPORT OF THL TRUSTEE leontdl CIIARITABLE ACI'IVITIES Icontdl IIK 8Tanl has been cancelled in ils ori8inal forni and Ilie funding h&s beeii realloralcd Iv Graduate 5choDI Doctoral Researcher HaT(L%liip fiiiid. This dcci5iDn usures 11181 Ihc resour¢¢s £re directed lo an arta of iimniediale need, prvvidin8 Irgeted finan¢ial support lo doctoral r¢searC1[S iyho illay bE experieiiciiig ullexpEGlcd diifi¢iillies. '1l)is pr()jeel receivcd £35¢),344. Of this. only £3.509 ivgs utili5ed to cowr PhD Coniplelion Fees for a doctoral sludeiil. The r¢maining funds I[£ ¢an¢¢lled lor ihe Lutreni y¢ar, as the project lead has opi¢d lo redircct Ilic budget ioiyards hvo new pro8r&tnmes scheduld ID laun¢h in 2025126. Thc Prisuii Parfiierships pro8taMm¢ received £150.000 in 2024125 and spent £109.340. willi Ilie remainin8 funds def¢rred fDr use inthe folloiving year 2025126. Ovet Ihi5 acaJ¢JniL' 5rar. Ihc PTogramm¢ has delivered 6 foiindaiion level modules 10 siuduts across the piison se¢tor in EiiglJnd WalL%. who ivoiild oih¢rivi5e be excliided Iioin th¢ vasi Inajorily ofhiBh¢rediieaiion. iis programm¢hs esiablished a valuabl¢ fouttdatioii for fvliirc growili is iioiy exploring i4WyS to enhan¢e 11$ d¢livery. illi a view 10 5¢alin8 up and potenliallyoffcrin8 fi]11 degree proBr8mmes ivilhin piisons. PLAN FOR FUTURE PERIODS The unl$11Y is Ihe sole I[le¢ and sucli will conlinuc lo Hpply Ilie Trk]sls a55Cts in th¢ fvrtherallc£ of ils Eliariiable objects. A nunikr ofprizes and 5Gholar£hips are 3iYarded to Slii(l¢nts ofthe Univeisity of Westininsler lh¢ Trusi's resee5 arc rlplcntsld from donatioms and from income froin invesiiJMls. The ar¢ no iiiiended chDII8C5 to Ihe Trust activities foi lh¢ ]ll1178Year. Approved Ihc Iru51¢¢ on bch8lfof Ihe Iru5tee r I willl1 Univ¢rsity 8ecrelary and Chi¢fOper8tinB Oflicer Univctsiry of Wesiminsi¢r 26 Nov¢mlxr 2025
THE UNIVERSITY OF WESTMINSTER PRIZE AND SCHOLARSHIP FUND REPORT OF T14L TRUSTEE Itolltdl Und¢rih¢ deed and rules ofihe ¢h8rity thariiy121v. Ihe Iru51¢¢5 are respottsibl¢ for prepllring lh¢ Rewrt ofihe Trustee and the r)naClaI &ialeiiKn15 Irt aceordallcc wilh applicablc law and regulalions. 'fhe IriislE¢ is requiied lo prq)are I rinaocial &18lenicnlS in accordance wilh UK Accouniiil8 Standards, itieliidiiig fRS 102 TITe f4ilicJKiGI K¢poJ-Ilrtg SlaJ11'd applicable iji rhe UKaiTdRéptiblleoflr¢lond. lje finan¢¢81 stalemcnts ar¢ required by lawto give D iTU¢ and f8irvie%v ofihe slale of affairsofti chariiy and of Ilie incolgr¢s0Ur and applicatioii ofr¢soiirees for Ihai peri. In these fIn1claI staMentS. geneTally accepted actoun¢ing pi8Ctic¢ ¢ni&ils tknl the Irusiee.. sdect suitsble awounlingwli¢i¢5 aDdlhen apply Ihem consi51enlly', InBke jud8¢m¢nts and esiimates that are reasonable and prud¢iil' sIBle NvlKiher applicablB UK Accoiinling sidardS and th¢ Sialeiiienl OfReeoniid Pra¢iice have be¢n follow subject to Bny maierial depailures disclosed and ¢xplaiiied in Ihc financiJl slhi¢m¢nis: slai¢ ivhether IhB filncial slRleiKcnis coiiiply Ivilh th¢ Iriisl decd rules. subjeEI 10 any material dcpartures dis¢losed 8S5es$ th¢ c118rity's abiliiyio cOntU¢ as a 8OIJI8 con¢¢ni, disclosin8, a$ api)licable, Inaiiers relAled io goiiig coiicem., and use the going concern basis ofaccountiM8 Dnle5s tY Eiihtr intend lo liqiiida the charily or lo ce85e optrg1ion5, 01 hav¢ no iealislic ali¢malive bul to do so. llie Irusie¢ is reqiiired to act ill B¢¢OTdance Ivilh the Irusi deed aiid Ilic riiles of11 charity. Ivilhin thc framework ofirust law. lliey are respoiisibl¢ for keepinga¢couttting records thicll are siiffi¢ittti to slioiv aiid txplsiii tiie cliaTily'S tYallsaclioii% aiid di5closc al 8ny Iiiiic, iyiih re&£on8blc ¢curacy. the finart¢io1 pnsiiion ofilie cljarily al Ihal iiiiie. and lo cnabl¢ ihe ITusIc¢s ensiiie Ihai, Ivliere any siaiemeiils ofa¢¢ounts are ppar¢o by thelli iind¢r ollOn 13211) ofihe chariti Act 2011. I1$t slalem¢nis of accounts ¢oniply iviih Iht rcquiremell15 of r¢glll&tions undcr tliai PTOViSiOli. They Rre Ir5pDnsible for such iiilernal conirol as Iliey dci¢mine is ne¢tSS8ry to eiiable Ihc preparation Df finaticial slalcni¢nis thal JtE fr¢¢ from tnDi¢rial iisslaiemeiit, whellier diK fraud 01 ctror, and liavc gcn¢ral respoiisibilily for takingi such sieps as arc reasoiiably OP 10 Ihan 10 5afe8iiard Ilic aSL80f the chiriiy and to preni awl &lect fraud and other irre8ularities.
THE UNIVERSITY OF WESTMINSTER PRIZE AND SCHOLARSHIP FUNO IndepeDdent Auditoi. s i'epoj't to tlle Tj'ustet ofTlie Univtrsily of W¢stminster Priz¢ •thd Sel)019rshlp Full(1 Opinlort W¢ liave audited Ihe fiiiaiicial slal¢meiiL% Orle Uiiiycrsiiy ofwesiniiii$r Prize and S¢liolarship Fund c'ilie thaiity I for Ilie ytar ended 31 Jiily 2025 ivhich cotnprisc Ilie BDIDii¢e Sh¢el, Slatenienl of Fimaiicial Alliviiies and relalcd iiolLs. including Ihe a¢coiiiiiing policies in ijoie 2. In our opinion ihe fiiian¢ial siatelnIS.. giyc a true and fair vieivof Uie sldte of Ilie charity s affairs at31 Jiily 2025 8ndof its incoming resources attd applicDlion of resoiirces foT I1 ye8r I111 cndrd., hDve bven properly pr¢parLd iii aceoidancr iyiih UK llccoiinling sianoards, including FRS 102 The Fijkyfrjelal Rqpiiijig Siaiklaiyl¢JiJplieable iii ilje UKaIRePlib1l¢ oflj'eland., and liave been prop¢rly prepRred iii a¢¢ordance iyilli th¢ requireinenls of Ih¢Chg1ilies A¢t 201 I. BASIS for opillio We have be¢n appointed as aiidiior linder section 145 of Ihe chariti A¢1 2011 lor its predecessors) aiid report in a¢¢ordance wilh regulatio In&de undetsection 154 of that A¢1. W¢ eoiiducted ouraudil 111 aCCOTdan¢e wilh Tiileniaiitsiial Slaiid-dS oil Aiidiliiig IUKI I'ISAS IUKI") ai)d appIlble laiv. r respoiisibililir5 #re descrikd bcloiv. We liavc fiiifill¢d our clhicil T¢sponsibililies linder, and ale in&pendenl of Ilic hiriiy iii Accordan¢¢ i%ritli. UK ethical reqiiiieinEnlS iiicliidiiig the FRC F.Ihical Slaiidaid. We helieve Ihtti Ihc audit eviden¢¢ ive have obtained is a sufficient and apprnpriDle basis for our opiiiion. Going contei. The Trusiee ha5 prcpar¢d Ilie fiiillncial slatthnents on Ihe going concern basis as they do not inieiid lo liqiilde the charity or lo ccas¢ lis olatIo[, aiid as Iliey have coiicludal 11)al th¢ diarity's finiiii¢ial i)a£ition Mea Ihal Ihis Is rcalis¢1¢. lliey liave l$D ¢orelllded Ilidl Ih¢re are no Inaleriul iineertRinlic5 thai ¢oiild have ca51 Signifi1 doiibl over lis abilily 10 eoniinue as goiiig ¢uticerii for al Itast a )rar froni Ili¢ date of approval of the f311¥1 sts1eiits I'thc 8oi118 coIK£rii riod"1- In ollrevaliialioii of ilieTtU51tt'S eoiielusioiis, ¢ottsidei£d tl]e inliereiit risks lo IIK cliariiy s lyJsiiieq£ iiiodel and Inalsed how those risks miglit affeci the cliariiy's finaiicial resources or ability 10 coiiliiiiie Opcrnlions over Ihc going coiicern period. Out ¢4)nclusions bas¢d oil Iliis ivork". coNsid¢r Ihatihe TIu5te¢'s use of the ¢onceni ba$is of aceouiiling in Ili¢ pEI)8ratioii of Ilie finllncial staltineiits is appmpTialc-, .(Qe liave not id¢Ntified. and concur iyith Ilie Tiusiec'q assessmenl Ili1 Iliere is nol, A lllaierial uncertainly related lo ¢v¢r¢LS or conditions tiial. individllallyor Loll¢¢iively, may ca51 siwiificalll doiibl 011 tlie charity's abiliry ioconlinue a going concern ror I1 goiiig concern period. HoiY¢v¢r, we cannol pr¢dicl all tiitur¢ ¢v¢nt5 or condilions and as subsequ¢ni evenis niay fvIl in oiilcomrs ihal arc IIICOUsisi¢ni ivith jiidgcmts th&t iirre reasonable al Ihe tiSD¢ they Ire niade, th¢ abo conclusions are noi a Buaranlee Ihai the charity will conliniK iii operalion. To idititify ri$ks ofmaterial missiaieineiii due lo fravd I'fraud risks-l assessed cN¢nis or colidilio Ihatcould indi¢aie an eiiiive or pic55ure coinmil fraior providc opportunity lo Commit fraiid. Our risk 8sse5snicni proce{he$ in¢luded.. .Fllquiiiiig of the Trusltc. Ilie Group sAudii aiid Risk Cvimiiittee. InlerniE l audil. aiid iiiaiiagcin¢nt and speci1011 ofp)licy documeniaiioii Bs lo th¢ ¢118rity's liigli-lcvd policies ld pro¢edures lo pr¢viD¢ and detecl fraua al tiie cliaTiii¢I for -I44iisllcbloNving" 475 11 #s wlielher Iliey have knowledge ol'any aclual, siisp¢¢iedor allegcd friiid. .Readiiig ¢¢11118 iiiiiiuies of Ilit Gmyp's Audit aiid Risk Cotllmiiie¢'. and .us8 anaiwie81 priKtdur¢s th ideiilify any unusual or uiitxpe¢ied relationstLiPS. We coinmunicai¢d idenlified fraud risks Ihroughoul Ihe audit It8ni 311d reinaiii¢d alert to indiraiions of fraud Ihroughwt
THE UNIVERSITY OF WESTMINSTER PRIZE AND SCHOLARSHIP FUND
Independent xudltor'$ I'eport to the Trustee of The Ulliversity of Westminster Pi'ize artd Scliolarsliip Fund
{continufdl
A5 rcqiiir¢dby auditing siolidar. perforin procedurL% 10 gddress Ilie risk of Inaiifigeinciil override of controls, i
parti¢ulir the risk Ihal charilys Inattageiiiciil may be in a PDsilion lo Inake inllppropriate accoiinlingeijlries. On Ilils audit v
do nol IKlicve tliere 15 a fvRiid risk related 10 r¢venue recoBniliDn diie io t1 ainoiiiii ofiiie revenii¢ received duTing lh¢ year
being ijnmaierial. We IhL'rtfor¢ aessed Iliul Iliere wa5 luiiilcd opportiinily for Ihc Charityto manipiilate the irt¢om¢ tliai was
repoiled.
We did Aol id¢niify aiiy a
THE UNIVERSITY OF WESTMINSTER PRIZE AND SCHOLARSHIP FUND
Independent auditor's report to the Trustee of The University of Westminster Prize and Scholarship Fund ( continued)
Matters on which we are required to report by exception
Under the Charities Act 2011 we are required to report t_o you if, in our opinion: the charity has not kept sufficient accounting records; or
- . the financial statements are not in agreement with the accounting records; or
we have not received all the information and explanations we require for our audit.
We have nothing to report in these respects.
Trustee's responsibilities
As explained more fully in their statement set out on page 8, the trustee is responsible for: the preparation of financial statements which give a true and fair view; such internal control as they detennine is necessary to enable the preparation of financial statements that are free fcontinue as a going concern, disclosing, as applicable, matters related to going concern; and using the going concern basis[r] om material misstatement, whether due to f[r] aud or error; assessing the charity's ability to ·of accounting unless they either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do so.
Auditor's responsibilities
)
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 our opinion in an auditor's rep01t. Reasonable assurance is a high level of assurance, but does not guarantee that an audit conducted in accordance with IS As (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of the financial statements.
A fuller description of our responsibilities is provided on the FRC's website at WW\V. frc.org. ukaudi torsresponsibil ities
The purpose of our audit work and to whom we owe our responsibilities
This report is made solely to the charity's trustee as a body, in accordance with section 145 of the Charities Act 2011 (or its predecessors) and regulations made under section 154 of that Act. Our audit work has been undertaken so that we might state to the charity's b·ustee those matters we are required to state to them in an auditor's report and for 110 other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility lo anyone other than the charity and its trustee, as a body, for our audit work, for this report, or for the opinions we have fonned.
Jessica Hargreaves
for and on behalf of KPMG LLP, Statutory Auditor
Chartered Accountants
KPMG LLP is eligible to act as an auditor in terms of section 12·/2 of the Companies Act 2006
15 Canada Square, Canary Wharf, London, E14 5GL
03 December 2025
11
THE UNIVERSITY OF WESTMINSTER PRIZE AND SCHOLARSHIP FUND
STATEMENT OF FINANCIAL ACTIVITIES
For the year ended 31 July 2025
| Note Income and endowments from: Donations 3 Investments 4 Total Expenditure on: Charitable activities: Grants payable 5 Governance costs 6 Total Net (loss)/gain on investments 7 Net increase/(decrease) in fnds before transfer Transfers between funds Net increase/(decrease) in fnds afer transfer Fund balances brought forward Fund balances carried forward 14 |
Unrestricted Restricted Endowment Total Funds Fnnds Funds 2025 £ £ £ £ 5,238 5,238 18,415 53,697 72,112 |
Total 2024 £ 4,738 63,575 |
|---|---|---|
| 23,653 53,697 77,350 (9,935) (9,935) 6,968 6,968 |
68,313 34,814 7,013 |
|
| (2,967) (2,967) (10,677) (10,677) |
41,827 46,848 |
|
26,620 53,697 ( I 0,677) 69,640 26,620 53,697 (10,677) 69,640 518,093 250,512 91,261 859,866 |
73,334 73,334 786,532 859,866 |
|
| 544,713 304,209 80,584 929,506 |
The accompanying notes form part of these financial statements.
12
THE UNIVERSITY OF WESTMINSTER PRIZE AND SCHOLARSHIP FUND BAI,ANCTr' 5111,: As 31 July2025 2025 2024 Note rixED A55EIS 658,803 069,480 CURRENT ASSETS D¢btOTS CB5h al bank Hnd in hand 3.076 992,872 995.948 3.004 ,376,263 ,379,267 LIABILITIES Credilor5-. OUnt$ f811iiig duewlhin on¢)rar 1549,fy151 1433,8811 NEf CURRENT ASSETS 446,903 945,386 TOTAL AssEfs LESS CURRENT LIABILIT]ES 1.614,866 CREDITORS.. wtS fallingdue after more than on¢y¢pr io 1176,2001 1755,0001 NEf ASSETS 929.506 859.866 THE FUNUS OF THE CHARITY Perinaiicnl cndoivm¢ni fuiids R¢siri¢i¢d ittcome ndS TOTAL RESTRIcfED & ENDOWMF.NT FLtNDS 80,584 3IN.209 384.793 250,512 341,773 UnreslTiCtcd flin 544,713 544,713 518,093 518.093 TOI"AL UNRESTRICTED FUNDS TOTAL CHAR]TY FUNDS 14 929,506 859.866 Noi¢s on pages 14-18 fur Thesr fi neial sthlen sw¢rea mve aiidsisn¢d on b¢halfofthe ITusie¢on 26 N0veber 2025. Mr I Wiltnol Unl[sIty 5¢¢r¢tary and Chief Operaiillgofficer University ofwesiiiiinsler ch8riiyNiimber.' 1010405 13
THE UNIVERSITY OF WESTMINSTER PRIZE AND SCHOLARSHIP FUND NO'I'C8'fo TIIL ACCOVN'I'S lor the y¢4J' oijded 31 July 2025 TRusr srATUS The Trusl Trvas r¢Bl51ered as ll Cliirily on I l April 1990. ACCOUNTINC POLICIES Basi5 of Poi.li01) aiid A55E5smcnl or eioing Concc The a¢¢oiinl$ Ifinaiicial stDlcinEiiisl have been prepAred under the ljistoncal cosi nVentiOn willi ii¢ms re¢oEiiised al cost OT Iransaciiwi value unless vlh¢-rwise sialed iii ihe rclcvanl iirjtelsl lo thc5c ac¢ounls. The financial staleinEnlS hRve becn pr¢p#red iii accordancr wilh Ili¢ Slalenient of R¢¢oniinended PrRCti¢e.' Aceouiiliiig and Reportiiig by Cliarilies pi¢paring Ihcir accounls in a¢¢ordaiice ivilh ihB FiiiHncial ReportiNg SlandHr(l applicii blc in th¢ UK and Republic ofir¢lHiid (r8 1021 piiblislicd in Oetober 2019 und Ihc l.'i114nciDI Reporting S18ndard applicable iii ihe Uiiilcd Kingdom and Ilewblic of ITelandlFRS 1021 and Ihe Cliariiies Act 2011. M)e tri1 coiisliliilcs a public bettefitenlity as defJn¢d by FRS 102. T1 inisiee Co11¢ thai there ale no malcrial iin¢ertllinlies aboiil Ilie'l'rust's ability 10 ¢ontinue as a goiii8 ¢oiiceiii. Il1¢ iiiosl %ignificanl ai¢as of iincert8inty thai affect ihe c&rryin¥ value ofassels lield by IheTrusi are Ilic Icvel of inlment relutn And the rfOrMinCe ofiiivL51m¢iii niarkels. Ncvrrllirless. iii Ilie Jiidgcm¢ni Oft1 trustee, the Tnisi's level of iiiirc51rirlcd rwrves Dnd low l¢v¢l ofnon-discrelionaryexpendiiure pruvide adequ31e assuraiic¢ Iliat Ih¢lwsi is able lo continu¢ as & going concttn ov¢r at least 12 monih Income Tx Ad CoJ'pDfRIiDn TAX 11ic ¢hAriiy 1£ considcrcd lo pass the tests sel Out in ParagrBpli I Sdigthile 6 Fi112nce Act 2010 #lid illerefo il m¢¢ Ili¢ definition ofa chdriiabl¥ iftisi for UK iiiconie lax purw)ses. Accordiiigly. the chnrity 15 poi¢niially exempl ftom laxaliun iii rLspecl of illco1C or upital gains rccriv¢d iviihin caiegoTie% ¢ov¢red by PBrt 10 In¢oiJie Tax Act 2007 or Sc¢iion 256 of ihe Taxation ofcliargeable Gaill5 Acl 1992. lo Ilieexlgnl thai sucli incoin£ orgaii)s ayc applied exclu5iv¢ly 10 eh&Yiiable purpDS¢S. VAllle Tax The cliarity is noi regisleied forValu¢ Adikd Ta Rc5tritted. Umrestricled EiidDiyme Fiin41s The endo¥Yiiieiil Iiiiid5 conipris¢ 34 prize and scholar5bip fiinds Thc PCTman¢nteiido%nenl fwid eonsisls olall initial #nd Subseq1t cllpiial donations and IhE dDnoT has specified il 15 peniiaiienlly invc51cd 10 8enerale an inci>m¢ 51Tedm 10 be applied lo a 5p¢¢ifie Obje1ve. Nie ilivcs1nItis are carried on Ihe bBlance she¢t at fair v81ue.The ieslrictcd runts are athnini51citd aordI17810 tiic donors. wislies. Uiirestricled fuiid5 are to be applied to Ihc promoiioii ofeducDlion al Ihc Unilwsity Of W¢slmi]£[ by the awarding All inroming resour are accOted for iii the period in which the ch81ity is ¢¢rtgiiJ it iyill re¢eiv¢ the fi)nds. can accuralely Clf¢ Ihem Bnd is enlilledkn receipt. K%penditui'e All eKpendiluTe is a¢¢ounted foi on a¢cruals basis Illclusi of any VAT which Can not bB recovered and h8s been Classified iiiidcr h¢a<lin8S tlial &ggreBfilt all costs related lo the ¢ai¢Èory. Exwdilure on Charitable Acliviles comprisrs all ¢xFnditurc dir¢¢ily relaiiiigto the objcct5 of the ch#iiiy. Grattts payable aTe payni¢iiUS niade lo third pariies iii ilie Iliriheranworil clinrilablc obiwis of the Triist and are ¢Irged iii the ycHri¥htii Ilie offer Is coiivcyrd 10 Ihc recipieiil and ¢ondi¢iolls allarhtd 10 ihe grant lJavE lttil ttiet Governsnce costs are shown separately in Ihc Stsi¢ment of finanEiil A¢iiviiiesHnd bnalyscd in Note 6. CAsh now slatcnieiil Tlie cliarity is ¢A¢mpi froni the requiTem¢ni lo prepaie a ¢ish noiv statement und¢r Ilie Charity SORPon I1 grounds of ils size. Fixcd Asset lThve$tments Fixed 8ssei iiivestmen15 include Charities Official Investinenl Fundwhich gre cDtTied ort Ihe balance sheet Al fair 14
THE UNIVERSITY OF WESTMINSTER PRIZE AND SCHOLARSHIP FUND NOTE5 1'0-I'IIC ACCOIINTS ICONI-INIIF.DI for Ihc YEAT L'iidtd 31 Jiily 2U25 DONATION INCOTr¥lE 2025 2D34 Donnlions Donui¢dService5- University of Wesini¢lter 500 4.738 5,238 4.738 4,738 Dwaied Servircs ainoiiiiling lo £4.73812024.. £4.7381 iv¢re providedby the Universily of Weslininslei in lh¢ fonll of rinancial and Ddminisirjiive SllPPUrt 10 the Tiusl. A correspoiidiiw a111 is incliidcd in Governance Costs Note 6. INVESTMKKf INCOM 2025 2024 Illcoe from iiivesinients Bank inieresi on dcp(EilS 17,9 45,583 63,575 53.697 GRANTS PAYABLI 2025 2034 Coininiimenls lll l August 2024 1,186,744 1.677.000 Granis apprOa in Ilie year Granl ianc¢ll¢d iii IhB yeaT 705,244 40,000 19,9351 34,814 GT#ni$ PAyAble for the ytar I,I76J09 GrAnlS Paid during tht year 1453.7491 1525,0701 Comtniim¢nls at 31 July 2025 INol¢ 9 & 101 723,1160 1,186.744 CTrTh]nllmtiJtS AtJl July 2025 al'e pay*ble a5 follows.. 2025 2024 Wilhiii on¢ yeay INole 91 After nior¢ Ihaii one year (Note 101 546,¥6D 176.200 431,744 755,000 723.060 1.186,744 ComJnllmcnt5 Of ilie lolal grants payDble aflcr more Ill7 one year andacctued above, £547k ii'ill be p4yable diiring Ilic financibl }Ar 2025126, £76k diiring 2026127. £50k diirin8 2027128. aiid £50k dllyng 202812¢). GOVERNANCE COSTS 2025 2fj24 2,185 4,738 45 6.968 2,139 4.738 136 7,013 onated Servi¢¢s- Univer5ily of W¢siminsler Baiik ElIHrges Audii fees of £1.822 l¢xcl VAD rElii¢ 10 Ihe Diidil of Ihcs¢ accounl$12024.. £1.782 ¢x¢l VATI. No other$iCeS were proYid¢d by ihe aiidiloT. Dollalcd S¢rviee% Dlllounling w £4.73812024.. £4.7381 iYeTe providal by the unIr11Y olWr51minsier in the fomi of rIlu£1al and 3dminisliaiive $ppOrt lo Ilic'frusi. A cortcspoi)ding amixinl is included in income in Note 3. 15
THE UNIVERSITY OF WESTMINSTER PRIZE AND SCHOLARSHIP FUND NOTES 1'0-1'HTr: ACCOUNTS ICONTJNUKDI for 11)e yeAr 31 Jiily 2025 FIXED ASSET INVLSTMCNTS 2Q25 2024 Chariiies Official Invcslrn¢ni Flit MaTket value ai i Augusl Net uJllERlised inv¥51inrni 8aiiVllossl 669,480 622,652 46,848 669,480 658,803 TolRI InYesimeni$ 41 lArket VAlue 658.803 609.480 2025 2024 Hisloiiral cosi as at 31 Jllly Charities Otficial Inv¢slinenl Fund 33.532 33,532 33.532 3.1.532 All se1$ are lield inthe Unii¢d Kingdom DEBTORS 2025 3024 Accrued COme 3.076 3.004 CREDITOR5.. AMOUNTS fiALLING DUE IVITHIN ONE YEAR 2025 2024 Grants Payable lo Uiiiversity of W¢$imilter Accriials 546,860 2,185 549.045 431,744 2,137 433,881 ID CREDITORS.. AloUNT$ FALLING DUE ArrER ONV YLAEi 2025 2024 Grirtts Payable io unl[sity of Wtsimlrfjier 176,200 176,200 755.000 755,000 I'ERMANENT ENDOWMENT FUNDS Tl)e p¥niiuiiiiii eimloivnient fiind coinpriscs pri7.r and %cliolarship tiilld5 rclaiirtg 10 all initial and subscou¢ni Copi1 donali0115. Iii FY2023 folloiyiiig the Charitycommission approvRI IlieTru51ees r¢allocaied £702k of IhesL ina¢iive to be disburs¢d 10 iieiv prOgra1¢S Ilial align lu the original inlenlions uf I1 donors These proBramTnts support dEli1 re¢ruiiin¢n¢ and Ilie sludenl and ¢otnmunity experience al W¢51minsi¢r. The nioveiiienl in Ilit fiind in FY2025 is shoiyn iii lh¢ Siaieineni orrin8ncial AEtiviii¢s on ge 12. Il&l&ncc Changt Iii Transfers 202 21J25 Olhertndowm¢iii 91,261 110.6771 80.584 Total endolnCn[ funds 91.261 110.6771 16
THE UNIVERsif¢ OF WESTMINSTER PRIZE AND SCHOLARSHIP FUND NOTf.s TO TH£ ACC.OUNTS ICONI'INiir.Di ,STRicrrp FIINDS Icsc coinprise the Prize Dnd Scholarship fvnds csl&blislKd after I l April 1990: The Irwtee adrninislers the funds ar¢ordinB 10 the donots, Ivishes, ithi¢h is nornially lo piomvle ediicaiioii HI IhE UDiv¢rsiiy of Weslinin51er. Tlie rnuv¢m¢DI iii the fund is shoiyn iii Ilic 8IAlenienl of Fillancial A¢tiviiies on page 12. AMxlygI5 of moveme1 in resiritied fujids B&lAnee l Aiigust 2024 In¢ome Exptnditui'e TraiLsfer5 31 Jllly 2025 Ini¢niaiional Schol&rship Oth¢r resirithed 57.896 192,616 240512 57,896 246,313 304 209 53.697 13 UNRESTRICTED fvNIIS At lh¢ l Aug1 2023 Iliis (¥impris¢d the Prize and Sthol#rsliip fiinth e51abli51ird pr¢ I l April 1990. ThciwMee is obli8rd Iv p2y il fllnd'5 eXPCllSf5, aiyard prizes 8nd scholarsliips. Aiiy iinused irt¢i)m¢ is to be applied 10 Ihe proinolion of cdii¢aiion ai the Universilyof Wesimi1151eT in IIK Ivay Ili¢ Irusiee ihinks fil. liie movemeni in ihe fiind is shoivn in Ihe Statemeiil ofFinan¢ial A¢livilies on page 12. AnAlysis ofmovcmeDI In UrtriCted fund5 Vlljidsl new pioyramniesl BRIAil¢t Avgllst 2024 %p¢nditiire I'rD$feis 2025 Ridson Palmer Furtd F.dniuiid Beale SArBanl Oilier unreslricled fiinds 13,597 4,320 500,176 518 093 272 616 32.700 88 1451 13,824 4,936 525,953 54471) 16.9231 14 ANAI.YSIS OF NET ASSETS Jlb'l'WEEN fuNDS UDrt$lrftled Funds Rc$tri¢lod Vlliids Endowmtnt TotRI 'und bAlanccs At 31 Jiily 2025 Are repi'e5Ellted by: 658,803 658.803 995,948 1725.2451 929,506 691,739 1147,0261 S44.713 304209 CuTt¢ni and non curre1 liabiliiieg -rotAI Ntl A5set5 304,209 (kn iiive5tinents 110,6771 Illk,6771 110.6771 {lQ,6771 17
THE UNIVERSITY OF WESTMINSTER PRIZE AND SCHOLARSHIP FUND NOTES TO THP.. AC.C.OUNI't> ICON'I'INUEDI for the yeRr ended JI Jiily 2025 15 EN.IOI.IIMCNTS OTr 'I'IIII.S'I'EE AND EMPI.OYEES The triislee did not reeeive gny eThioliiments or ieiinbiirse expenses12024. nill. le ¢hlliity has no eniplo)res (2024.. RELATII) VARTY TRANSAcfioNS Ulliversily ofw¢5miiisier is considrrcd 10 he a rclalcd partj, ofthcTrus1, be¢awe il is Ihe 501¢ Iwsiee. T ]nui¢ri41 Ir8ns8Ctions i¥iih the University diiring Ilje yeBI anil the ba[l¢e5 al yiar end are Bs lolloivs.. 2025 2024 Maieiiil Iransactions Ivilh relai¢d parly diirill8 Ihc y¢ar'. 453.749 19.9351 443,814 525,070 Grants b¢crnethle&sed 525.070 Aniounls owed 10 related party dis¢los¢das aciedilor in a¢collii15 n3,060 1,186,744 Doiilllcd Services ainoiinliiig 10 £4.73812023.' £4.7381 Ivere hlso provided by 11]e Uiiiversiiy olW¢51miilSter iii Ihe forni of financial and adtninisirative sllpwrt lo th¢ Tyiisi. A copondI11g Ainounl is in¢liid¢d iii Governin¢¢ Costs in Noie 6. 18