UCC Educational Foundation
Charity no. 1021681
The Charity Commission for England and Wales
Trustees’ Annual Report for the year ended 31[st] July, 2024
UCC Educational Foundation is a registered charity with the Charity Commission for England and Wales. The Trustees present their report and financial statements of the results of the charity for the year ended 31[st] July 2024. The Trustees confirm that they have referred to the Charity Commission’s guidance on public benefit and adopted the Charity Governance Code (first published in July 2017, updated 2020).
The accounts have been prepared in accordance with the relevant Accounting Standards, SORP and comply with UCC Educational Foundation’s Trust Deed, applicable law and the requirements of the Charity Commission.
Objectives and Activities
The objective and activities for which the UCC Educational Foundation is established is engaging in fundraising activities for the purposes of the furtherance of education, research and development carried out by University College, Cork in its pursuit of education, teaching and research.
Achievements and Performance
The contributions disbursed during the year were utilised to support the Irish Centre for Fetal and Neonatal Translational Research (INFANT) Neonatal Chair £169,420, the Glucksman Art Gallery £55,577, as well as several other projects and funds at University College Cork (UCC).
Financial Review
The activities of the UCC Educational Foundation for the year ended 31 July 2024 resulted in total contributions of £50,080 (2023: £241,272). A total of £241,999 (2023: £215,484) was disbursed during the year to University College Cork (UCC), leaving a deficit after bank interest and charges of £187,617 for the year ended 31 July 2024. The UCC Educational Foundation finished the FY 2024 with a bank balance of £55,013.
It is the policy of charity to hold free reserves that are su�icient to cover administrative running costs for the following 12 months. At the year end free reserves amounted to £6,312.
Structure, Governance and Management
The UCC Educational Foundation is an unincorporated charity established by a trust deed dated 17 March 1993, and is governed by a Board of Trustees. Those Trustees who served during the year and up to the date on which this report was approved are as follows:
Mr David Quinn (Chairman) Mr David L Barry Mr James O’Callaghan (Treasurer) Mr Paul Wycherley Mr Michael McCarthy Ms Liz Shanahan
The Board have met a number of times during the year. In selecting individuals for appointment as charity trustees, the existing charity trustees must give regard to the skills, knowledge and experience needed for the e�ective administration of the charity. Each new trustees is provided with a trustee pack which includes information about the roles and responsibilities, as well as information about the charity.
Reference and Administrative Details
Charity Name: UCC Educational Foundation
Charity Registration number: 1021681
Registered O�ice and operational address:
Cork University Foundation University College Cork 2.12 Western Gateway Building Western Road Cork
Chairman: Mr David Quinn
Treasurer: Mr James O’Callaghan
Funds held as custodian trustee on behalf of others
The present trustees hold, and shall hold, the Trustee property and the income thereof upon trust to apply the same without distinction as to capital or income primarily in Ireland, England and Wales but without being restricted to such geographic areas as may be decided by the Trustees for the funding of any educational, research and development activities of University College, Cork.
ended 31 July 2024.
Thanks are expressed to the Trustees of the UCC Educational Foundation
UCC
Educational Foundation.
Mr. David Quinn
Chairman, UCC Educational Foundation.
18 July 2025
| UCC Educational Foundation | UCC Educational Foundation | UCC Educational Foundation | 1021681 | 1021681 | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Section A Receipts and payments Unrestricted funds Restricted funds Endowment funds Total funds to the nearest £ to the nearest £ to the nearest £ to the nearest £ A1 Receipts Receipts and payments accounts 01/08/2023 31/07/2024 To For the period from ee e |
Last year to the nearest £ CC16a |
||||||||||||
| Charitable Donations 1,380 |
48,700 | - | - | - | 50,080 | 50,080 | 50,080 | 241,272 | |||||
| Interest Received 4,325 |
- | - | - | - | 4,325 | 4,325 | 4,325 | 799 | |||||
| - | - | - | - | - | - | - | - | - | |||||
| - | - | - | - | - | - | - | - | - | |||||
| - | - | - | - | - | - | - | - | - | |||||
| - | - | - | - | - | - | - | - | - | |||||
| - | - | - | - | - | - | - | - | - | |||||
| - | - | - | - | - | - | - | - | - | |||||
| Sub total(Gross income for AR) 5,705 |
48,700 | - | - | - | 54,405 | 54,405 | 54,405 | 242,071 | |||||
| A2 Asset and investment sales, (see table). - - - - - - - - - Sub total - - - - - Total receipts 5,705 48,700 - 54,405 242,071 A3 Payments ————~~——~~ |
|||||||||||||
| Disbursements to CUF 21,699 |
220,300 | - | - | - | 241,999 | 241,999 | 241,999 | 215,484 | |||||
| Expenses 24 |
- | - | - | - | 24 | 24 | 24 | 72 | |||||
| - | - | - | - | - | - | - | - | - | |||||
| - | - | - | - | - | - | - | - | - | |||||
| - | - | - | - | - | - | - | - | - | |||||
| - | - | - | - | - | - | - | - | - | |||||
| - | - | - | - | - | - | - | - | - | |||||
| - | - | - | - | - | - | - | - | - | |||||
| - | - | - | - | - | - | - | - | - | |||||
| Sub total 21,723 | 220,300 | - | - | - | 242,023 | 242,023 | 242,023 | 215,556 | |||||
| A4 Asset and investment purchases, (see table) - - - - - - - - Sub total - - - - - Total payments 21,723 220,300 - 242,023 215,556 Net of receipts/(payments) - 16,018 - 171,600 - - 187,618 26,515 A5 Transfers between funds - - - - - A6 Cash funds last year end 22,330 220,300 - 242,630 216,115 Cash funds this year end 6,312 48,700 - 55,012 242,630 ————~~——~~ ======> |
CCXX R1 accounts (SS)
22/07/2025
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Section B Statement of assets and liabilities at the end of the period
Unrestricted Restricted Endowment Categories Details funds funds funds to nearest £ to nearest £ to nearest £ B1 Cash funds Cash at Bank 6,312 48,700 - - - - - - - Total cash funds 6,312 48,700 - —==== (agree balances with receipts and payments account(s)) OK OK OK Unrestricted Restricted Endowment funds funds funds Details to nearest £ to nearest £ to nearest £ B2 Other monetary assets - - - - - - - - - - - - - - - - - - —_—— Fund to which Current value Details asset belongs Cost (optional) (optional) B3 Investment assets - - - - - - - - - - 7 Fund to which Current value Details asset belongs Cost (optional) (optional) B4 Assets retained for the - - charity’s own use - - - - - - - - - - - - - - - - ies Fund to which Amount due When due Details liability relates (optional) (optional) B5 Liabilities - - - - - Signed by one or two trustees on Date of behalf of all the trustees Signature Print Name approval Mr. David Quinn (Chairman) 18/07/2025 —— CCXX R2 accounts (SS) 2 22/07/2025
Independent examiner's report on the accounts
Section A Independent Examiner’s Report
Report to the trustees/ UCC Educational Foundation members of On accounts for the year 31[st] July 2024 Charity no 1021681 ended (if any) Set out on pages Above
I report to the trustees on my examination of the accounts of the above charity (“the Trust”) for the year ended 31[st] July 2024 .
- Responsibilities and As the charity trustees of the Trust, you are responsible for the preparation basis of report of the accounts in accordance with the requirements of the Charities Act 2011 (“the Act”).
I report in respect of my examination of the Trust’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination, I have followed the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
Independent I have completed my examination. I confirm that no material matters have examiner's statement come to my attention (other than that disclosed below *) in connection with the examination which gives me cause to believe that in, any material respect:
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accounting records were not kept in accordance with section 130 of the Act or
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the accounts do not accord with the accounting records
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in order to enable a proper understanding of the accounts to be reached.
- Please delete the words in the brackets if they do not apply.
Date: 21 July 2025 Signed: ~~a~~ Name: Tom Wilcox ~~Po~~ Relevant professional FCIE qualification(s) or body (if any): Address: Counterculture Partnership LLP 23 St Leonards Road Bexhill-on-Sea, East Sussex, TN40 1HH
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Section B Disclosure
Only complete if the examiner needs to highlight matters of concern (see CC32, Independent examination of charity accounts: directions and guidance for examiners).
Give here brief details of any items that the examiner wishes to disclose .
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