REGISTERED COMPANY NUMBER: 02867380 (England and Wales)
REGISTERED CHARITY NUMBER: 1028482
Report of the Trustees and
Unaudited Financial Statements for the Year Ended 31 July 2025
for
Russian Language Undergraduate
Studies Limited
Merchant & Co
Chartered Certified Accountants
2 Craven Road
Ealing
London
W5 2UA
Russian Language Undergraduate
Studies Limited
Contents of the Financial Statements
for the Year Ended 31 July 2025
|
Page |
Reference and Administrative Details |
1 |
Report of the Trustees |
2 to 6 |
Independent Examiner's Report |
7 to 8 |
Statement of Financial Activities |
9 |
Balance Sheet |
10 to 11 |
Notes to the Financial Statements |
12 to 18 |
Russian Language Undergraduate
Studies Limited
Reference and Administrative Details
for the Year Ended 31 July 2025
TRUSTEES |
Dr Lynne Attwood |
|
Dr Philip Bullock University Professor (resigned 21.11.24) |
|
Dr Adam Wake Fergus University Lecturer |
|
Mrs Anna M Clark (appointed 21.11.24) |
|
Dr Emily Florence Lygo (appointed 1.5.25) (resigned 13.2.26) |
Trustees hold office for a period of three years and then retire. A retiring member is eligible for re-election. |
|
Members of the charitable company agree to contribute an amount not exceeding £1 to the assets of the charitable company in |
|
the event of a winding-up. |
|
REGISTERED OFFICE |
13 Glossop Road |
|
Little Hayfield |
|
High Peak |
|
SK22 2NG |
REGISTERED COMPANY NUMBER |
02867380 (England and Wales) |
REGISTERED CHARITY NUMBER |
1028482 |
INDEPENDENT EXAMINER |
Merchant & Co |
|
Chartered Certified Accountants |
|
2 Craven Road |
|
Ealing |
|
London |
|
W5 2UA |
SOLICITORS |
Anthony Collins Solicitors |
|
134 St Edmund Street |
|
Birmingham |
|
B3 2ES |
BANKERS |
CAF BANK Limited |
|
Kings Hill |
|
Kent |
|
ME19 4TA |
Page 1
Russian Language Undergraduate
Studies Limited (Registered number: 02867380)
Report of the Trustees
for the Year Ended 31 July 2025
ThetrusteeswhoarealsodirectorsofthecharityforthepurposesoftheCompaniesAct2006,presenttheir report
with the financialstatementsof the charityfor the year ended 31 July 2025. The trusteeshave adoptedthe provisions
of AccountingandReportingby Charities:Statementof RecommendedPracticeapplicableto charitiespreparing their
accountsinaccordancewiththeFinancialReportingStandardapplicableintheUKandRepublicofIreland(FRS 102)
(effective 1 January 2019).
OBJECTIVES AND ACTIVITIES
Objectives and aims
TheobjectsofRussianLanguageUndergraduateStudiesLimited(RLUS)aretheadvancementofeducation by
organisingandfacilitatingintensive,highqualitycoursesintheRussianlanguageandplacementsfor students
studyinginUnitedKingdomuniversitiesincountrieswhereRussianiswidelyspoken.SincetheRussianinvasion of
Ukraine we have been unable to send studentsto Russia itself, so we currentlywork with a companycalled Pinegroup,
whichtradesunderthenameofLanguageLink,toruncoursesinEstonia(Tallinn)andKazakhstan(Astana). Both
countries were part of the Soviet Union, but have been independent since 1991 when the Soviet Union broke up.
StudyingRussianinitselfisofgreatadvantagetothestudentswhoattendthesecourses.Unfortunatelytheyare no
longerabletoliveinRussiaandexperienceRussianculturewhileontheseplacements.However,theywillhave the
experienceof livingincountrieswhichhavea longstandingrelationshipwithRussia,largeethnicRussian populations
andwhich,bothin the ImperialRussiaandSovieteras,were coloniesof Russia.The countriesare at oppositeends of
theformerSovietUnionandareverydifferent,geographically,culturallyandpolitically;sotooaretheir attitudes
towardsRussia.Ifstudentschoosetodividetheyearbetweenthecountries,theywillreturnwithamuch greater
understandingofRussia'sattitudestowardsthe'nearabroad'(formerSovietrepublics).Thiswillbe particularly
valuable in the present day, given Russia's war against Ukraine.
Main objectives for the year
ThemainobjectivesfortheyeararetoensurethatourcoursesinEstoniaandKazakhstancontinuetomaintain the
same high standard as our courses in Russia in previous years.
Strategies for achieving these objectives
The coursesare monitoredby the OperationsConsultant,trustees,andmembersof the RLUS committee,who carry
outpastoralvisitstodiscusstherunningofthecourseswithstudentsandcourseproviders.The Operations
Consultantusuallyconductsone pastoralvisit per year herself and is assisted by members of the committee who carry
out additional visits. The aim is to visit every institution we work with at least once per year.
Significant activities
As reportedin the last Year Report,RLUS, togetherwithLanguageLink, has continuedto provideintensivecourses in
theRussianLanguageinTallinn(Estonia)andAstana(Kazakhstan).ThesecoursesarerunbyMrRobJensky, who
used to run the RLUScoursein Moscow, but had relocatedto Estoniaeven beforethe Russianinvasionof Ukraine in
February2022.RLUS,togetherwithLanguageLink,offeredcoursesofvariouslengths:13weeks,16weeks (in
semester1), 18 weeks i(n semester2), and34 weeks. LanguageLinkhadhopedto offerthe same coursesin Yerevan,
capital of Armenia, but initially it was too difficult to find a suitable location for the courses.
Public benefit
ThecharityhasreferredtotheguidancecontainedintheCharityCommission'sgeneralguidanceonpublic benefit
whenreviewingitsaimsandobjectivesandinplanningitsfutureactivities.Inparticular,theRLUS Committee
considers how planned activities will contribute to the aims and objectives which they have set.
Thestudentsarethecharity'sbeneficiaries;RLUShasaimedtohelpthemattaina goodknowledgeofthe language,
thepeopleandtheirstoryandthecultureofthecountry,whichwillstandthemingoodsteadwhenthey graduate
and either seek employment or go on to higher degrees.
Page 2
Russian Language Undergraduate
Studies Limited (Registered number: 02867380)
Report of the Trustees
for the Year Ended 31 July 2025
ACHIEVEMENTS AND PERFORMANCE
Performance
At the end of each course, LanguageLink in Tallinnand Astana provideus with marks and attendancerecordsfor each
student.Thesearepassedontothestudent'sUKuniversity.Studentperformancecontinuestobesatisfactory, and
mostBritishuniversitieswithaRussiandepartmentcontinuetousetheservicesofRLUS.Theseare Oxford,
Cambridge, UCL, QMUL, Manchester, Sheffield, Exeter, Edinburgh, St. Andrews, Birmingham, and Bath.
FINANCIAL REVIEW
Funding sources
TheprincipalsourceoffundingcontinuestobecontributionsmadebyBritishuniversitiesandstudents. These
contributionshavebeencarefullycalculatedtocoverthecostsofadministrationandfeespayabletothe course
providers in Tallinn and Astana. However, unforeseen events can complicate these calculations (see below).
Investment policy
Exceptforabaseinvestmentof£60,000heldinNationalSavingsBonds,allothercashisheldinaninterest bearing
current account as this is essentially working capital.
Review
Thisyear'saccountsshownet incomeof £536(2024:£6,464).Studentnumberswere consistentwithlastyear, which
isreflectedinthecomparatives,£357,270(2024:£363,524)andaccordinglycoursecostswere£318,816 (2024:
£318,160).
At 31 July 2025 reserves totalled £105,274 (2024: £104,738).
Reserves policy
The boardof trusteesandRLUS Committeecontinueto keep a vigilanteye on the state of the reserveswitha view to
maintainingthem at leastto a level whichwillenablethe charityto cease operationsat anygiventime andto satisfy
allcreditorsandliabilitiesexistingatthattime.Areserveisnecessarytoabsorbabadoperatingyearwhich could
depletefundsbyupto£30,000.Costsofclosurearesmallandtheminimumsumseenasnecessarytomaintain a
reservetocaterforclosurecostsis£10,000.Trusteeswereawarethatiftherewasamajorphysicalcatastrophe or
periodofpoliticalunrestRLUScouldbeaskedtopayorcontributetocoststotransportstudentsbacktothe UK
quickly.
Sucha catastrophicevent in the past(the Chernobyldisasterin 1986)cost RLUS over £35,000in transportation costs.
However, whilst there is no legal obligationto do so, the boardof trustees and RLUS Committee were certainthat the
levelofreserveswouldbesufficienttoaccomplishthistaskifitwasrequiredagain.AftertheinvasionofUkraine in
February2022,andtheclosureofEuropeanairspacetoRussianplanes,RLUSwaspreparingtoevacuate students
onceagain,andtheOperationsConsultantwas indiscussionwiththeRussiancourseprovidersaboutthe chartering
ofbusestotakethestudentstoHelsinkiorTallinn.However,thisprovedunnecessary,asthecourse providers
managed themselves to get the students out of Russia by a variety of means.
The targetreserve is £75,000,made up of £40,000to cover 12 months'runningexpensesplus£35,000for emergency
transportation costs.
In orderto maintainreservesat a sufficientbutnotexcessivelevel,RLUS was graduallydecreasingthe administration
feechargedtostudentsand,asfaraspossible,holdingdownyearonyearincreasesincoursecosts. Unfortunately
this has been complicated by the fact that the courses in Russia were cheaper than those in Estonia and Kazakhstan.
Page 3
Russian Language Undergraduate
Studies Limited (Registered number: 02867380)
Report of the Trustees for the Year Ended 31 July 2025
FUTURE PLANS
RLUSis launchingitsnewcourselocation,Armenia,inthe2026-27academicyear.A perfectlocationhasbeen found
forthecourse:theEuropeanInstituteofInternationalLanguages.WhileCommitteemembersinitially expressed
considerableinterestin havinga coursein Yerevan,studentshave so far been more interestedin goingto Tallinn and
Astana;thisis becauseof very positivefeedbackfrom studentswho studiedin thosecitieslastyear.The closing date
for applications is 16 March 2026, so we will know then if we have enough students to run the course.
TherehavebeensomechangesintheCommitteemembership.TheOxfordCommitteemember,Margarita Vaisman,
hasbeenreplacedbyTamarKoplatadze.TheBirminghammember,TanyaLipatova,hasbeenreplacedby John
Goodyear.TheEdinburghmember,EkatarinaPopova,wasreplacedbyAldonaJudina.TheStAndrews member,
Svetlana Booth, will be replaced at the end of the present academic year by Mikhail Vodopyanov.
Fourpastoralvisitshavebeen,orwillbe,heldinthe2025-26academicyear.AndriiSmutsniuk,from Cambridge,
carriedoutthevisittoTallinninthefirstsemesterofthe2025-26academicyear,whileAldonaJudina, from
Edinburgh,didthevisittoAstana.LynneAttwoodplanstodothevisittoTallinninsemester2,whileChiara Andrii
also hopes to do the visit to Astana.
Therehas been a slightchangeto the lengthof some of the courses,afterconsultationwithstudentsand Committee
members. The full year coursehas been changedfrom 34 to 33 weeks, and the 18 week coursesheld in semester 2 to
17 weeks. This was because studentswanted to reduce the number of readingweeks in semester 2 from three to two,
and so return home a week earlier.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
Thecompanywasestablishedunderamemorandumofassociationwhichestablishedtheobjectsandpowersof the
charitable company and is governed under its articles of association.
Organisational structure and decision making
Thecharitydoesnotdirectlyemployanystaff.Allof itsactivitiesintheUK arecarriedoutbycontractedpersons: an
operationsconsultant,anaccountantandanadministrator/secretary.Operationsabroadarecontracted to
PineGroup,anEstoniancompanywhichtradesunderthenameofLanguageLinkandrunsRLUScoursesin both
Tallinn and Astana.
MattersofpolicyandprinciplearedecidedbythetrusteesandmembersoftheRLUSCommitteeatmeetings held
threetimesperyear.Theoperationsconsultant,DrLynneAttwood,isresponsibleforadvisingthetrustees and
Committeemembersonprogress,andputtingforwardsuggestionsforchange(e.g.inrelationtocourselocation or
duration)forapproval.Sheisalsoresponsibleforallprocessingofstudentinvolvement,frominitialenquiry through
to monitoring performance of both the students and the course providers.
Trustees and committee members
Asattheendof2025,RLUScurrentlyhasthreeTrustees:LynneAttwood(whoisalsoOperationsConsultant), Adam
Fergus(from SheffieldUniversity),and EmilyLygo(from ExeterUniversity).These three are also members of the RLUS
Committee.The Committeealsoconsistsof alloftheLiaisonOfficersforRLUS- i.e.therepresentativesfromeach of
the Universitieswhichsend studentson RLUS courses.In additionto Adam FergusandEmilyLygo,These were, at the
endofthe2024-25academicyear,MargaritaVaisman(Oxford),AndriiSmutsniuk(Cambridge),ChiaraAmina (UCL),
NadezhdaBragina(QMUL),LizaLangley(Manchester),EkaterinaPopova(Edinburgh),SvetlanaBooth(St Andrews),
TanyaLipatova(Birmingham),andIvanGololobov(Bath).AnnaClark,whohadbeentheRLUSSecretary and
Administrator,resignedattheendofthe2024-25academicyear,butreturnedtoRLUSasChairuntiltheendof the
firstsemesterofthe2025-26academicyear.KathRoylecontinuedinthepostofFinance,Administration and
ComplianceOfficer.Asanticipated,shehassuccessfullyappliedherextensivefinancialandbusinessexperience to
RLUSandhasensuredthesmooth-runningofthefinancialandbureaucraticaspectsofRLUSwork.Unfortunately we
have not found anyone to replace Anna as Chair.
Page 4
Russian Language Undergraduate
Studies Limited (Registered number: 02867380)
Report of the Trustees
for the Year Ended 31 July 2025
STRUCTURE, GOVERNANCE AND MANAGEMENT
Induction and training of new trustees
Newlyappointedtrusteesnominatedbyparticipatinguniversitieswillbefamiliarwiththeaimsandobjectivesof the
charity.All new trusteesare providedwitha copyof the CharityCommissionpublication'The EssentialTrustee: what
youneedtoknow,whatyouneedtodo'.Newtrusteesalsosigna TrusteeDeclarationof Eligibilityanda register of
interests declaration. They are also given an introduction to administrative processes such as expense claims.
Risk Statement
Thetrusteeshaveadutytoidentifyandreviewtheriskstowhichthecharityisexposedandtoensure appropriate
controlsareinplacetoprovidereasonableassuranceagainstfraudanderror.Themajorrisks,bothoperational and
financial,towhichthecharityissubjectareassessedeachyearandappropriatesafeguardsarediscussedandput in
placetomitigatethecharity'sexposuretothesemajorrisksshouldtheycrystallise.Theriskmanagementpolicy is
closelylinkedto the reservespolicy.All majorriskshave been reviewed.RLUShas been assuredby LanguageLink that
all teaching and homestay living accommodation conform to local safety standards.
StudentscanaccessontheRLUSwebsite,www.RLUS.co.uk,a'StatementofInformation',adocumentthat students
confirmthattheyhavereadwhentheysignthebookingform,whichcontainsa clearstatementregardingthe safety
policy:
"RLUSisassuredthatallteachingandHomestayaccommodationprovidedbythecourseorganiserscomplies with
local fire and safety laws. RLUS is also assured that all Homestay accommodationis inspectedby the host organisation.
Few countriesare as stringentas the UK in settinggeneralstandardsfor safety,hygieneandfire precautions,and the
localauthoritiesmay not have adequateresourcesto monitorand enforcestandards.We suggestthatyou familiarise
yourselfwith the lay-outof teachingbuildingsand homestays/apartmentsand the means of escape in the event of an
emergency.Ifyouareinhomestayaccommodation,pleaseobeyallsafetyinstructionsgiventoyoubyyour host
family."Thesameinformationisalsocontainedinthefinalbriefingdocumentthatallstudentsreceiveabout three
months before departure from Language Link.
TRUSTEES' RESPONSIBILITY STATEMENT
Thetrustees(whoarealsothedirectorsofRussianLanguageUndergraduateStudiesLimitedforthepurposes of
companylaw)areresponsibleforpreparingtheReportoftheTrusteesandthefinancialstatementsin accordance
withapplicablelawandUnitedKingdomAccountingStandards(UnitedKingdomGenerallyAccepted Accounting
Practice)includingFinancialReportingStandard102"TheFinancialReportingStandardapplicableintheUK and
Republic of Ireland".
Companylawrequiresthetrusteestopreparefinancialstatementsforeachfinancialyear.Underthatlaw, the
trusteeshaveelectedtopreparethefinancialstatementsinaccordancewithUnitedKingdomGenerally Accepted
Accounting Practice (United Kingdom Accounting Standards and applicable law).
Undercompanylawthetrusteesmustnotapprovethefinancialstatementsunlesstheyaresatisfiedthattheygive a
trueandfairviewofthestateofaffairsofthecharitablecompanyandoftheincomingresourcesandapplication of
resources,includingtheincomeandexpenditure,ofthecharitablecompanyforthatperiod.Inpreparing those
financial statements, the trustees are required to
-
select suitable accounting policies and then apply them consistently;
-
observe the methods and principles in the Charities SORP;
-
make judgements and estimates that are reasonable and prudent;
-
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business.
Page 5
Russian Language Undergraduate
Studies Limited (Registered number: 02867380)
Report of the Trustees
for the Year Ended 31 July 2025
TRUSTEES' RESPONSIBILITY STATEMENT - continued
Thetrusteesareresponsibleforkeepingproperaccountingrecordswhichdisclosewithreasonableaccuracyat any
timethefinancialpositionofthecharitablecompanyandtoenablethemtoensurethatthefinancial statements
complywith the CompaniesAct 2006. They are also responsiblefor safeguardingthe assets of the charitable company
and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
This reporthas been preparedin accordancewith the specialprovisionsof Part 15 of the CompaniesAct 2006 relating
to small companies.
Approved by order of the board of trustees on 8 May 2026 and signed on its behalf by:
Dr Lynne Attwood - Trustee
Page 6
Independent Examiner's Report to the Trustees of
Russian Language Undergraduate
Studies Limited
Independent examiner's report to the trustees of Russian Language Undergraduate Studies Limited ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 July 2025.
Responsibilities and basis of report
As the charity'strusteesof the Company(andalsoits directorsfor the purposesof companylaw)youare responsible
for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').
Having satisfiedmyself that the accountsof the Companyare not requiredto be auditedunder Part 16 of the 2006 Act
andareeligibleforindependentexamination,Ireportinrespectofmyexaminationofyourcharity'saccounts as
carriedoutunderSection145oftheCharitiesAct2011('the2011Act').IncarryingoutmyexaminationI have
followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act.
Independent examiner's statement
Since yourcharity'sgross incomeexceeded£250,000yourexaminermust be a member of a listedbody.I can confirm
thatIamqualifiedtoundertaketheexaminationbecauseIamamemberoftheAssociationofChartered Certified
Accountants, which is one of the listed bodies.
Ihavecompletedmyexamination.Iconfirmthatnomattershavecometomyattentioninconnectionwith the
examination giving me cause to believe:
1. accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or
2. the accounts do not accord with those records; or
3. the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or
4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).
Ihavenoconcernsandhavecomeacrossnoothermattersinconnectionwiththeexaminationtowhich attention
should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Page 7
Independent Examiner's Report to the Trustees of Russian Language Undergraduate Studies Limited
Anindependentexaminationdoesnotinvolvegatheringalltheevidencethatwouldberequiredinanaudit and
consequentlydoesnotcoverallthemattersthatanauditorconsidersingivingtheiropiniononthe financial
statements.Theplanningandconductofanauditgoesbeyondthelimitedassurancethatan independent
examinationcanprovide.ConsequentlyIexpressnoopinionastowhetherthefinancialstatementspresenta 'true
and fair' view and my report is limited to those specific matters set out in the independent examiner's statement.
This reportis made solely to the charity'strustees,as a body,in accordancewith section 145 of the CharitiesAct 2011.
MyworkhasbeenundertakensothatImightstatetothecharity'strusteesthosemattersIamrequiredtostate to
theminthisreportandfornootherpurpose.Tothefullestextentpermittedbylaw,Idonotacceptor assume
responsibilityto anyoneother than the charityand the charity'strusteesas a body,for my work, for this report,or for
the opinions I have formed.
Ketan Ramesh Patel FCCA
The Association of Chartered Certified Accountants
Merchant & Co
Chartered Certified Accountants
2 Craven Road
Ealing
London
W5 2UA
11 May 2026
Page 8
Russian Language Undergraduate
Studies Limited
Statement of Financial Activities (Incorporating an Income and Expenditure Account) for the Year Ended 31 July 2025
2025
Unrestricted
fund
Notes
£
INCOME AND ENDOWMENTS FROM
Charitable activities
Russian language courses
357,270
Investment income
2
6,601
Total
363,871
EXPENDITURE ON
Charitable activities
3
Russian language courses
363,335
NET INCOME
536
RECONCILIATION OF FUNDS
Total funds brought forward
104,738
TOTAL FUNDS CARRIED FORWARD
105,274 |
2024
Total
funds
£
363,524
2,615 |
|
366,139 |
|
359,675 |
|
6,464
98,274 |
|
104,738 |
CONTINUING OPERATIONS
All income and expenditure has arisen from continuing activities.
The notes form part of these financial statements
Page 9
Russian Language Undergraduate
Studies Limited (Registered number: 02867380)
Balance Sheet
31 July 2025
2025
Unrestricted
fund
Notes
£
CURRENT ASSETS
Debtors
9
833
Investments
10
60,000
Cash at bank
310,752
371,585
CREDITORS
Amounts falling due within one year
11
(266,311)
NET CURRENT ASSETS
105,274
TOTAL ASSETS LESS CURRENT LIABILITIES
105,274
NET ASSETS
105,274
FUNDS
12
Unrestricted funds
105,274
TOTAL FUNDS
105,274 |
2024
Total
funds
£
11,531
60,000
413,085
484,616
(379,878)
104,738
104,738
104,738
104,738
104,738 |
|
|
The charitablecompanyis entitledto exemptionfrom audit under Section477 of the CompaniesAct 2006 for the year
ended 31 July 2025.
Themembershavenotrequiredthecompanytoobtainanauditofitsfinancialstatementsfortheyear ended
31 July 2025 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
-
(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
-
(b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
The notes form part of these financial statements
continued...
Page 10
Russian Language Undergraduate
Studies Limited (Registered number: 02867380)
Balance Sheet - continued
31 July 2025
Thesefinancialstatementshavebeenpreparedinaccordancewiththeprovisionsapplicabletocharitable companies
subject to the small companies regime.
ThefinancialstatementswereapprovedbytheBoardofTrusteesandauthorisedforissueon8May2026and were
signed on its behalf by:
Lynne Attwood - Trustee
The notes form part of these financial statements
Page 11
Russian Language Undergraduate
Studies Limited
Notes to the Financial Statements
for the Year Ended 31 July 2025
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financialstatementsof the charitablecompany,whichis a publicbenefitentityunderFRS 102,have been
preparedinaccordancewiththeCharitiesSORP(FRS102)'AccountingandReportingbyCharities: Statement
ofRecommendedPracticeapplicabletocharitiespreparingtheiraccountsinaccordancewiththe Financial
ReportingStandardapplicablein the UK and Republicof Ireland(FRS 102) (effective1 January2019)', Financial
ReportingStandard102 'The FinancialReportingStandardapplicablein the UK and Republicof Ireland'and the
Companies Act 2006. The financial statements have been prepared under the historical cost convention.
Income
All incomeis recognisedin the Statementof FinancialActivitiesoncethe charityhasentitlementto the funds,
it is probable that the income will be received and the amount can be measured reliably.
Incomefromuniversitiesis recognisedas the coursesfundedprogress.Incomereceivedin advanceof courses
is recognised as deferred income in the financial statements.
Expenditure
Liabilitiesarerecognisedasexpenditureassoonasthereisalegalorconstructiveobligationcommitting the
charitytothatexpenditure,itisprobablethatatransferofeconomicbenefitswillberequiredin settlement
andtheamountof theobligationcanbe measuredreliably.Expenditureis accountedforonanaccruals basis
andhas been classifiedunderheadingsthataggregateall costrelatedto the category.Wherecostscannot be
directlyattributedtoparticularheadingstheyhavebeenallocatedtoactivitiesonabasisconsistentwith the
use of resources.
Support costs
Supportcostsof charitableactivitiescomprisecostsincurreddirectlyin supportof expenditureon the objects
of the charity.
Governance costs
Governancecostsincludethemanagementofthecharitablecompany'sassets,organisational management
and compliance with constitutional and statutory requirements.
Taxation
The charity is exempt from corporation tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Foreign currencies
Assetsandliabilitiesinforeigncurrenciesaretranslatedintosterlingattheratesofexchangerulingat the
balancesheetdate.Transactionsinforeigncurrenciesaretranslatedintosterlingattherateof exchange
rulingatthedateoftransaction.Exchangedifferencesaretakenintoaccountinarrivingatthe operating
result.
Debtors
Basicfinancialassetsincludingtradeandotherdebtorsareinitiallyrecognisedat transactionprice,unless the
arrangementconstitutesa financialtransaction,where the transactionis measuredat the presentvalue of the
futurereceiptsdiscountedat a marketrateof interest.Suchassetsare subsequentlycarriedat amortised cost
using the effective interest method, less any impairment.
continued...
Page 12
Russian Language Undergraduate
Studies Limited
Notes to the Financial Statements - continued
for the Year Ended 31 July 2025
1. ACCOUNTING POLICIES - continued
Cash and cash equivalents
Cash and cash equivalentsare representedby cash in hand,depositsheld at call with financialinstitutions, and
othershort-termhighlyliquidinvestmentsthatmatureinnomorethanthreemonthsfromthedate of
acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.
Creditors
Basicfinancialliabilities,andothercreditors,loansfromthirdpartiesandloansfromrelatedparties, are
initiallyrecognisedattransactionprice,unlessthearrangementconstitutesa financialtransaction,where the
debtinstrumentismeasuredatthepresentvalueofthefuturepaymentdiscountedatamarketrate of
interest.Suchinstrumentsare subsequentlycarriedat amortisedcost usingthe effectiveinterestmethod, less
any impairment..
Going Concern
Thefinancialstatementshavebeenpreparedonthebasisofgoingconcern.Thereareno material
uncertainties regarding going concern.
2. INVESTMENT INCOME
Interest
CHARITABLE ACTIVITIES COSTS
Russian language courses
DIRECT COSTS OF CHARITABLE ACTIVITIES
Costs of courses
Pastoral and management visits to Estonia and Kazakhstan |
Direct
Costs (see
note 4)
£
326,780 |
2025
£
6,601
Support
costs (see
note 5)
£
36,555
2025
£
318,816
7,964
326,780 |
2024
£
2,615
Totals
£
363,335 |
|
|
|
2024
£
318,160
3,566 |
|
|
|
321,726 |
3.
4. DIRECT COSTS OF CHARITABLE ACTIVITIES
continued...
Page 13
Russian Language Undergraduate
Studies Limited
Notes to the Financial Statements - continued
for the Year Ended 31 July 2025
5. SUPPORT COSTS
SUPPORT COSTS |
|
|
|
|
|
Governance |
|
|
Management |
costs |
Totals |
|
£ |
£ |
£ |
Russian language courses |
29,643 |
6,912 |
36,555 |
Support costs, included in the above, are as follows: |
|
|
|
Management |
|
|
|
|
|
2025 |
2024 |
|
|
Russian |
|
|
|
language |
Total |
|
|
courses |
activities |
|
|
£ |
£ |
Operational and admin fees |
|
28,226 |
26,506 |
Insurance |
|
985 |
917 |
General overheads and office expenses |
|
71 |
1,694 |
Bank charges |
|
247 |
278 |
Website expenses |
|
114 |
1,155 |
|
|
29,643 |
30,550 |
Governance costs |
|
|
|
|
|
2025 |
2024 |
|
|
Russian |
|
|
|
language |
Total |
|
|
courses |
activities |
|
|
£ |
£ |
Trustees meeting expenses |
|
- |
222 |
Accountancy fees |
|
2,340 |
2,340 |
Independent examiner's fee |
|
4,572 |
4,261 |
Legal and professional fees |
|
- |
576 |
|
|
6,912 |
7,399 |
6. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees'remunerationor other benefitsfor the year ended 31 July 2025 nor for the year ended
31 July 2024.
continued...
Page 14
Russian Language Undergraduate
Studies Limited
Notes to the Financial Statements - continued
for the Year Ended 31 July 2025
6. TRUSTEES' REMUNERATION AND BENEFITS - continued
Trustees' expenses
PastoralvisitstoTallinnmadebyDrPhilipBullockandDrLynneAttwood£5,258(2024:1,074forvisits made
by Dr Philip Bullock and Simon Jackson to Tallinn).
Trustees meeting and travel expenses were for 0 trustees (2024: 3 trustees).
7. STAFF COST
There were no staff costs for the year ended 31 July 2025 nor for the year ended 31 July 2024.
No employees received emoluments in excess of £60,000.
8. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
|
Unrestricted |
|
fund |
|
£ |
INCOME AND ENDOWMENTS FROM |
|
Charitable activities |
|
Russian language courses |
363,524 |
Investment income |
2,615 |
Total |
366,139 |
EXPENDITURE ON |
|
Charitable activities |
|
Russian language courses |
359,675 |
NET INCOME |
6,464 |
RECONCILIATION OF FUNDS |
|
Total funds brought forward |
98,274 |
TOTAL FUNDS CARRIED FORWARD |
104,738 |
continued...
Page 15
Russian Language Undergraduate
Studies Limited
Notes to the Financial Statements - continued
for the Year Ended 31 July 2025
9.
DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Trade debtors
Prepayments
10.
CURRENT ASSET INVESTMENTS
National Savings Income Bond
Investments are included in the balance sheet at their open market value.
11.
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Trade creditors
Deferred course income
Accruals
12.
MOVEMENT IN FUNDS
At 1.8.24
£
Unrestricted funds
General fund
104,738
TOTAL FUNDS
104,738
Net movement in funds, included in the above are as follows:
Incoming
resources
£
Unrestricted funds
General fund
363,871
TOTAL FUNDS
363,871 |
|
|
|
|
|
continued...
Page 16
Russian Language Undergraduate
Studies Limited
Notes to the Financial Statements - continued
for the Year Ended 31 July 2025
12. MOVEMENT IN FUNDS - continued
Comparatives for movement in funds
|
|
Net |
|
|
|
movement |
At |
|
At 1.8.23 |
in funds |
31.7.24 |
|
£ |
£ |
£ |
Unrestricted funds |
|
|
|
General fund |
98,274 |
6,464 |
104,738 |
TOTAL FUNDS |
98,274 |
6,464 |
104,738 |
Comparative net movement in funds, included in the above are as follows:
Unrestricted funds
General fund
TOTAL FUNDS |
Incoming
resources
£
366,139
366,139 |
Resources
Movement
expended
in funds
£
£
(359,675)
6,464
(359,675)
6,464 |
|
|
|
A current year 12 months and prior year 12 months combined position is as follows:
Unrestricted funds
General fund
TOTAL FUNDS |
At 1.8.23
£
98,274
98,274 |
Net
movement
in funds
£
7,000
7,000 |
At
31.7.25
£
105,274 |
|
|
|
105,274 |
A currentyear12monthsandprioryear12monthscombinednetmovementinfunds,includedinthe above
are as follows:
Unrestricted funds
General fund
TOTAL FUNDS |
Incoming
resources
£
730,010
730,010 |
Resources
Movement
expended
in funds
£
£
(723,010)
7,000
(723,010)
7,000 |
|
|
|
continued...
Page 17
Russian Language Undergraduate
Studies Limited
Notes to the Financial Statements - continued
for the Year Ended 31 July 2025
13. RELATED PARTY DISCLOSURES
During the year ended 31 July 2025, Lynne Attwoodreceived a total of £11,267 (2024: £17,658)for her services
as Operations Consultant.
Page 18