The Florida State University International Programs Association UK
Annual Report and Accounts
Contents Reports Reference and administrative information Trustees, report Independent auditor's report Accounts Statement of financial activities 16 Balance sheet 17 Principal accounting policies 19 Notes to the accounts 24 The Florida State University International Programs Association UK
Reference and administrative information
Trustees Key management personnel Principal address Charity registration number Auditor Bankers Solicitors
1
Trustees' report
OBJECTIVES AND ACTIVITIES
2
Trustees' report
OBJECTIVES AND ACTIVITIES
Public Benefit
ACHIEVEMENTS AND PERFORMANCE
3
Trustees' report
ACHIEVEMENTS AND PERFORMANCE
FINANCIAL REVIEW
Results for the year
Financial position and reserves policy
4
Trustees' report
FINANCIAL REVIEW
Financial position and reserves policy
Investments
Fundraising
5
Trustees' report
STRUCTURE, GOVERNANCE AND MANAGEMENT
Organisational structure
6
Trustees' report
STRUCTURE, GOVERNANCE AND MANAGEMENT
Organisational structure
Trustees
Key management personnel
7
Trustees' report
STRUCTURE, GOVERNANCE AND MANAGEMENT
Related parties
FUTURE PLANS
8
Trustees' report
FUTURE PLANS
PRINCIPAL RISKS AND UNCERTAINTIES
9
Trustees' report
PRINCIPAL RISKS AND UNCERTAINTIES
10
members of The Florida State University
International Programs Association UK
Opinion
Basis for opinion
Conclusions relating to going concern
11
Other information
Matters on which we are required to report by exception
Responsibilities of trustees
12
How the audit was considered capable of detecting irregularities including fraud
13
How the audit was considered capable of detecting irregularities including fraud (continued)
14
Independent auditor's report Year ended 30 September 2024 Use of our report This report is made solely to the charity's trustees, as a body. in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charity's trustees those matters 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 charity and the charity's trustees as a body, for our audit work, for this report, or for the opinions we have formed. ?zoca Buzzacott LLP Statutory Auditor 130 Wood Street London EC2V 6DL Date.. 30 January 2025 Buzzacott LLP is eligible to act as an auditor in tenns of section 1212 of the Companies Act 2006 The Florida State University Intemational Programs Association UK 15
Statement of financial activities
----- Start of picture text -----
Unrestricted funds
2024
£
Income from:
5,945,163
Expenditure on:
4,851,615
Net income (expenditure) for the year
and net movement in funds 1,093,548
Fund balances at 1 October 1,395,180
Fund balances at 30 September 2,488,728
----- End of picture text -----
16
Balance sheet
| 2024 | |||||||
|---|---|---|---|---|---|---|---|
| Notes | £ | ||||||
| Fixed assets | |||||||
| Tangible assets | 8 | 1,177,607 | |||||
| Current assets | |||||||
| Debtors | 9 | 438,051 | |||||
| Cash | at bank and in hand | 1,203,155 | |||||
| 1,641,206 | |||||||
| Creditors: amounts falling due | Creditors: amounts falling due | ||||||
| within one year | within one year | 10 | (330,085) | ||||
| Net current assets | 1,311,121 | ||||||
| Total assets less current | Total assets less current | Total assets less current | |||||
| liabilities | 2,488,728 | ||||||
| Total net assets | Total net assets | 2,488,728 | |||||
| The funds of the charity: | |||||||
| Unrestricted funds | |||||||
| - Fixed assetfunds 11 |
1,177,607 | ||||||
| - General unrestricted funds |
1,311,121 | ||||||
| Total funds | Total funds | 2,488,728 |
17
Statement of cash flows
----- Start of picture text -----
2024
£
Cash flows from operating activities:
1,122,752
Investing activities
(318,920)
Net cash used in investing activities (318,920)
Net increase (decrease) in cash and cash equivalents 803,832
Cash and cash equivalents at beginning of year 399,323
Cash and cash equivalents at end of year 1,203,155
----- End of picture text -----
----- Start of picture text -----
A Reconciliation of net income (expenditure) to net cash flows from operating
activities
2024
£
Net income (expenditure) for the year 1,093,548
Adjusted for:
117,202
(22,878)
(66,120)
Net cash provided by (used in) operational activities 1,122,752
----- End of picture text -----
18
Principal accounting policies
Charity information
Accounting convention
Going concern
Charitable funds
19
Principal accounting policies
Income
Expenditure
Tangible fixed assets
20
Principal accounting policies
Impairment of fixed assets
Debtors
Cash and cash equivalents
Creditors and Provisions
Financial instruments
Basic financial assets
Impairment of financial assets
21
Principal accounting policies
Financial instruments
Derecognition of financial assets
Basic financial liabilities
Derecognition of financial liabilities
Taxation
Employee benefits
22
Principal accounting policies
Leases
Foreign exchange
Critical accounting estimates and judgements
Useful economic lives of tangible assets
23
Notes to the accounts
1 Income from charitable activities
Total 2024 £ 5,050,000 877,074 18,089 5,945,163
2 Expenditure on charitable activities
Total 2024 £ 1,699,304 117,202 371,300 21,429 1,026,889 57,712 17,808 23,698 121,772 371,778 73,372 745,755 139,542 49,054 4,836,615 15,000 4,851,615
3 Governance costs
2024 £ 15,000
4 Trustees
24
Notes to the accounts
- 5
----- Start of picture text -----
2024
£
15,000
Total audit fees 15,000
----- End of picture text -----
6 Employees
Number of employees
2024 Number 21 24 9 54 Employment costs 2024 £ 1,242,817 110,051 49,929 1,402,797 296,507 1,699,304
2024 Number - 1 -
7 Taxation
25
Notes to the accounts
8 Tangible fixed assets
----- Start of picture text -----
Total
£
Cost
9,140,301
318,920
(292,171)
9,167,050
Depreciation and impairment
8,164,412
117,202
(292,171)
7,989,443
Carrying amount
991,623 24,064 161,920 1,177,607
975,889
----- End of picture text -----
9 Debtors
2024 £ Amounts falling due within one year 438,051
10 Creditors: amounts falling due within one year
2024 £ 31,645 58,007 102,803 15,232 122,398 330,085
----- Start of picture text -----
2024
£
96,338
(96,338)
58,007
Deferred income at 30 September 2024 58,007
----- End of picture text -----
26
Notes to the accounts
10 Funds
Unrestricted funds
Balance at 30 Sept 2024 £ 1,177,607 1,311,121 2,488,728
11 Operating lease commitments
----- Start of picture text -----
2024
Amounts payable: £
2024
Amounts receivable: £
----- End of picture text -----
12 Ultimate controlling party
27
Notes to the accounts
13 Capital commitments
14 Related party transactions
Remuneration of key management personnel
2024 £ 220,008
28