##
##
##
##
##
##
##
##
|Northern
Consortium
Member Universit|Northern
Consortium
Member Universit|Northern
Consortium
Member Universit|ies|||
|---|---|---|---|---|---|
|The present members ofthe Consortium|||are:|||
|The University|of|Bradford||Leeds Beckett|University|
|The University|of|Salford||Liverpool John|Moores University|
|Sheffield
Hallam||University||The University|ofManchester|
|The University|of|Leeds||Manchester
Metropolitan
University||
|The University|of|Sheffield||The University|ofHuddersfield|
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
|stream for the
trading year for|Charity to support
its objectives.
The consolidated
NCUK despite the COVID-19 pandemic.|Charity to support
its objectives.
The consolidated
NCUK despite the COVID-19 pandemic.|financial|performance
for 202|1 was strong.
Refl|ecting
a good|
|---|---|---|---|---|---|---|
|Summary ofthe|results and financial position ofthe Group||||2021|2020|
||||||6|6|
|Income|||||4,971,068|5,104,620|
|Net incoming resources from unrestricted||funds|||160,724|247,474|
|Total unrestricted|funds||||3,187,081|3,026,357|
|The charity paid|61479i2019/20:f2 144)|in respect of professional|indemnity|for the trustees.|||
##
##
##
##
##
|2.1|Reference|and administrative|and administrative|details||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
||Registered|company|number||02788226 (England|and|Wales)|||||
||Registered|charity number|||1018979|||||||
||Registered|office|||667-669Stockport Road|||||||
||||||Manchester|||||||
||||||M124QE|||||||
||Trustees||||Dr M Butler
—Chair ofthe Board ofTrustees|||||||
||||||Mr 5Mckinnon-Evans|-Treasurer||||||
||||||Mr R Cotton|||||||
||||||Professor
N M Clement|||||||
||||||Ms J Purves|||||||
||||||Mr J Richardson|||||||
||||||Professor J Watling|||||||
||||||Miss 5 Darch||||(appointed|23 March 2021)||
||||||Mr A Ryder||||(appointed|23 March 2021)||
||||||Mr N Smith||||(appointed|23 March 2021)||
||||||Mrs M Webster||||(appointed|23 March 2021)||
||||||Prof AJSambell||||(appointed|30November|2020)|
||||||ProfessorJ
Keay||||(resigned|22 March 2022)||
||||||Professor
P Byers||||(resigned|31January 2022)||
||||||Ms C Swabey||||(resigned|6September
2020)||
||||||Mr DTaylor||||(resigned|30September 2020)||
||Company|secretary|||Ms D Leicester|||||||
||Auditors||||Xe(nadin Audit Limited|||||||
||||||Chartered
Accountants||and Statutory|Auditors||||
||||||1City Road East|||||||
||||||Manchester|||||||
||||||M154PN|||||||
||Solicitors||||Browne Jacobson|||||||
||||||14th Floor|||||||
||||||No.i Spinningfields|||||||
||||||1Hardman
Square|||||||
||||||Manchester|||||||
||||||M33EB|||||||
||Bankers||||Barclays Bank Pic|||||||
||||||PO Box357|||||||
||||||51 M os icy Street|||||||
||||||Manchester|||||||
||||||M60 2AU|||||||
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
||||Notes|2021|2020|
|---|---|---|---|---|---|
|INCOME||||E|E|
|income and endowments from:||||||
|Investment
income||||3,812|21,538|
|Income - trading
subsidiary||||4,938,148|4,998,530|
|Otherincome||||29,108|84,552|
|Total income||||4,971,068|5,104,620|
|EXPENDITURE||||||
|Direct expenses - trading
subsidiary||||(744,129)|(656,376)|
|Charitable
activities||||(3,995,898)|(4,058,387)|
|Tax charge - trading subsidiary||||(45A46)|(76,055)|
|Total expenditure||||(4,785,173)|(4,790,818)|
|Net income and net movementin||funds before||||
|actuarial gains and losses on pension scheme||||185,895|313,802|
|Actuarial
gain (loss) on defined|benefit pension|||||
|scheme||||(25,171)|(66,328)|
|Net movement
in funds||||160,724|247,474|
|Total funds brought forward||||3,026,357|2,778,883|
|Total funds carried forward|||14|3,187,081|3,026,357|
##
##
|||||||Group||Charity||
|---|---|---|---|---|---|---|---|---|---|
||||||Notes|2021|2020|2021|2020|
|||||||6|6|6|6|
|Fixed assets||||||||||
|Tangible assets|||||9|27,854|24,546|||
|Investments|||||10|||1,256,001|1,256,001|
|||||||27,854|24,546|1,256,001|1,256,001|
|Current assets||||||||||
|Debtors||||||105,693|332,076|5,420||
|Cash at bank|and in|hand||||4,783,546|4,792,804|907,946|908,347|
|||||||4,889,239|5,124,880|913,366|908,347|
|Credltorsr
amounts||falling||due||||||
|within one year|||||12|(1,314340)|(1,733,251)|(60,534)|(56,757)|
|Net current|assets|||||3,574,899|3,391,629|852,832|851,590|
|Total assets|less current||liabilities|||3,602,753|3,416,175|2,108,833|2,107,591|
|Provisions for liabilities||||||(5,045)|(4,362)|||
|Pension
liability|||||13|(410,627)|(385,456)|(17,041)|(38,624)|
|Net assets including||pension liability||||3,187,081|3,026,357|2,091,792|2,068,967|
|Represented|by:|||||||||
|Unrestricted|income|funds|||14|3,187,081|3,026,357|2,091,792|2,068,967|
|The financial|statements||on|pages 11to 21w|" d by the Board ofTrustees and||signed on its|behalf by:||
##
##
||||2021|2020|
|---|---|---|---|---|
||||6|f|
|Cash generated
from operations|||||
|Net income and net movement
in funds before|||||
|actuarial
gains and losses|on pension|scheme|185,895|313,802|
|Depreciation|||22,422|38,985|
|Loss on disposal offixed assets||||11,832|
|Taxcharge|||45,146|76,055|
|Investment
income|||(3,812)|(21,538)|
||||249,651|419,136|
|Decrease in debtors|||226,383|177,872|
|(Decrease)/increase
in creditors|||(372,131)|398,889|
|Cash generated
from operations|||103,903|995,897|
|Tax paid|||(91,243)|(64,485)|
|Net cash from operating|activities||12,660|931,412|
|Cash flow from investing|activities||||
|Purchase oftangible fixed|assets||(25,730)|(7,887)|
|Interest receivable|||3,812|21,538|
|Net cash flow from investing
activities|||(21,918)|13,651|
|Change
in cash and cash|equivalents|in the year|(9,258)|945,063|
|Cash and cash equivalents|brought|forward|4,792,804|3,847,741|
|Cash and cash equivalents|carried forward||4,783,546|4,792,804|
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
|1|Trading subsidiary|Trading subsidiary||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
||The principal
wholly-owned||trading|subsidiary|||is Northern|||Consortium|||UK Limited.||The|principal|activity of this|company
is, in||
||conjunction
with partner|universities,||the|advancement||||ofeducational|||standards||by the development|||of syllabuses|and courses and||
||the provision ofexamination||services|and|assurance|||programmes|||to|ensure that||students||wishing to|attend the company's||partner|
||universities
meet the required||standards.||A|summary||of|the|trading|results||is shown below:|||||||
||Summary
profit and loss account||||||||||||||||2021
f||2020
f|
||Turnover||||||||||||||||4,938,148|4,998,530||
||Cost ofsales||||||||||||||||(744,129)||(656,376)|
||Other income||||||||||||||||29,108||84,552|
||Administrative
expenses||||||||||||||||(3,884,434)|(3,931,295)||
||Net interest||||||||||||||||(8,934)||4,492|
||Donation to parent charity||||||||||||||||(143,650)|||
||Tax charge||||||||||||||||(45,146)||(76,055)|
||Retained profit forthe year||||||||||||||||140,963||423,848|
||The assets and liabilities|ofthe subsidiary|||were:||||||||||||2021
f||2020
f|
||Fixed assets||||||||||||||||27,854||24,546|
||Debtors||||||||||||||||123,727||350,263|
||Cash at bank||||||||||||||||3,875,600|3,884,457||
||Creditors: amounts
falling due within|||one|year||||||||||||(1,259,226)|(1,679,711)||
||Deferred tax||||||||||||||||(5,045)||(4,362)|
||Pension
liability||||||||||||||||(393,586)||(346,832)|
||Net assets||||||||||||||||2,369,324|2,228,361||
|2|Investment
income||||||||||||||||2021||2020|
||||||||||||||||||f||f|
||Interest receivable on bank deposits||||||||||||||||3,812||21,538|
|3|Net movement
in funds||||||||||||||||2021||2020|
||||||||||||||||||f||f|
||Net movement
in funds|is stated after charging:||||||||||||||||||
||Depreciation
oftangible|fixed|assets||||||||||||||22,422||38,985|
||Fees paid to the Charities|auditor||||||||||||||||||
||-Audit ofcharity financial statements||||||||||||||||3,750||3,670|
||-Audit ofsubsidiary
financial||statements||||||||||||||8,500||8,299|
||-Other services||||||||||||||||5,500|||
|4|Staff costs||||||||||||||||2021||2020|
||||||||||||||||||f||f|
||Wages and salaries||||||||||||||||2,091,277|1,964,543||
||Social security costs||||||||||||||||175,450||166,120|
||Pension costs||||||||||||||||269,309||254,076|
||||||||||||||||||2,536,036|2,384,739||
||||||||||||||||||||No.|
||Theaverage
monthly
number||ofempl|oyee|s|were:|||||||||||61||49|
##
##
##
|6|Direct expenses - trading subsidiary|Direct expenses - trading subsidiary|Direct expenses - trading subsidiary|2021|2020|
|---|---|---|---|---|---|
|||||E|E|
||achates to partners|||744,129|656,376|
|7|Charitable
activities|||2021|2020|
|||||E|E|
||Administrative
costs|||||
||Employment
costs|||2,481,813|2,351,052|
||Establishment
costs|||51,307|87,091|
||General administrative||expenses|1,278,854|1,389,107|
||Finance charges|||15,504|13,908|
||Depreciation
and profit||/ loss on disposal|22,422|50,817|
|||||3,849,900|3,891,975|
||Charitable
activities|||||
||Bank charges|||123|20|
||Office expenses|||1,310|2 321|
||Scholarships
and project development|||71,337|107,230|
|||||72,770|109,571|
||Governance
costs|||||
||Staff costs (including|support)||61,570|42,602|
||Auditors'
remuneration|||4,236|7,265|
||Legalfees|||6,049|3,488|
||Other governance
costs|||1,373|3,486|
|||||73,228|56,841|
|||||3,995,898|4,058,387|
|||2021|2020|
|---|---|---|---|
|||E|E|
|Current tax||||
|- UK corporation|tax|44,463|91,224|
|Deferred tax|||i15,169)|
|||45,146|76,055|
##
##
##
|Tangible fixed assets - Group|Equipment
f|
|---|---|
|Cost||
|At 1September 2020|188,194|
|Additions|25,730|
|At 31August 2021|213,924|
|Depreciation||
|At 1September 2020|163,648|
|Charge far the year|22,422|
|At 31August 2021|186,070|
|Net book value||
|At 31August 2021|27,854|
|At 1September 2020|24,546|
##
|Fixed asset investments|-Charity|Shares in|
|---|---|---|
|||subsidiary|
|||undertakings|
|Cost||E|
|At 31August 2021||1,256,001|
|At 1September 2020||1,256,001|
|11|Debtors|Group||Charity||
|---|---|---|---|---|---|
|||2021|2020|2021|2020|
|||f|f|f|E|
||Trade debtors|7,339|310,206|||
||Amounts
owed by group undertakings|||5,420||
||Other debtors and prepayments|98,354|21,870|||
|||105,693|332,076|5,420||
|12|Creditors: Amounts
falling due within one year|Group||Charity||
|||2021|2020|ZOZ1|2020|
|||f|E|f|f|
||Trade creditors|163,143|85,511|24,999||
||Amounts
awed to group undertakings||||3,217|
||Currenttax|44,520|91,300|||
||Taxation and social security|54,339|352,550|1,184|723|
||Other creditors|224,291|351,330|1,113|787|
||Accruals &deferred income|828,047|852,560|33,238|52,030|
|||1,314,340|1,733,251|60,534|56,757|
##
##
##
##
##
##
##
|Movement
in funds -Group|||||Pension||
|---|---|---|---|---|---|---|
|||||Unrestricted|reserve|TOTAL|
||||||f|6|
|At 1September 2019||||3,098,011|(319,128)|2,778,883|
|Net income for the year||||247,474||247,474|
|Actuarial
gain (loss) on defined|benefit pension|scheme||66,328|(66,328)||
|At 1September 2020||||3,411,813|(385,456)|3,026,357|
|Net income for the year||||160,724||160,724|
|Actuarial
gain (loss) on defined|benefit pension|scheme||25,171|(25,171)||
|At 31August 2021||||3,597,708|(410,627)|3,187,081|
|Movement
in funds - Charity|||||Pension||
|||||Unrestricted|reserve|TOTAL|
|||||6|6|6|
|At 1September 2019||||2,264,218|(21,679)|2,242,539|
|Net outgoings forthe year||||(173,572)||(173,572)|
|Actuarial
gain (loss) on defined|benefit pension|scheme||16,945|(16,945)||
|At 1September 2020||||2,107,591|(38,624)|2,068,967|
|Net income for the year||||22,825||22,825|
|Actuarial
gain (loss) on defined|benefit pension|scheme||(21,583)|21,583||
|At 31August 2021||||2,108,833|(17,041)|2,091,792|
|Operating
lease commitments|||Group||Charity||
||||2021|2020|2021|2020|
||||6|6|6|6|
|Land and buildings|||||||
|Within one year||||8,318|||
|Other|||||||
|Within one year|||196,629|62,144|||
|Between one and five years|||41,914|7,200|||
||||238,543|69,344|||
##
##
##
##
##
||||2021|2020|
|---|---|---|---|---|
|INCOME|||||
|Donation from subsidiary|||143,650||
|Interest receivable|||3,590|9,785|
||||147,240|9,785|
|EXPENDITURE|||||
|OfFice expenses|||1,310|2,321|
|Other governance|costs||1,373|3,486|
|Wages and salaries|||54,970|36,002|
|Finance support costs - NCUK|||6,600|6,600|
|Pension scheme - actuarial||adjustments|(21,583)|16,945|
|Auditors'
remuneration|||4,236|7,265|
|Scholarships
and project development|||71,337|107,230|
|Bank charges|||123|20|
|Accountancy
and legal fees|||6,049|3,488|
||||124,415|183,357|
||||22,825|(173,572)|