Wallscourt Foundation
l<ony*ny lImh￿ bygu•rdnt4•)
Trustees. Report and Financial Statements
Year ended 31 Au9USt 2022
Charity Registration Number. 1050468
Company RegistBtion Number. 02991142

Wallseourt Foundatlon
Truste•s' Report and Financial Ststements
Year Ended 31 Augusi 2022
Conterhts
Refertnce and administrative details ol the charity, its tnJ51ees ond advise
Trustees, Report
Independent auditorfs feport to the members ol Wallscourt Foundation
Consolidated Statsrrent of Firsancièl ACt￿ltIeS
11
Balance Sheet
12
Consolidated Cash Flow Statement
13
otes to the F￿?￿Kial Statements
14

Wallscourt Foundation
Reference and Administrative Details of the Foundation, its Trust￿ and Advisers
Year ended 31 August 2022
Trustws
W J Marshall (Chair)
R N eurton Ire519ned 13 June 20221
CABooy
GECan
J S Laycock
S A Moore
K J Morgan
SGWest
M J Hagen
R J S Holme5
S 8 Mills (appointed 13 June 20221
Comp•ny R•9l$t•rnd 1￿mb•r
02991142
Ch4rfly R•gist•r•d Numb•r
1050468
R•9kt•rnd Offic•
Finance Dèpartment
UnNersrty of the West of England
Frenchaycampus
8ristol
8S16 1QY
Compary S•ci•tary
R H 8roughton
Audhor
Mazars LLP
Chartered A(c￿ntantS
90 Victoria Street
Bristol
8S16DP
nk•rg
Natwest pk
72 Gloucester Road
Bishopston
BS7 88F
Handelsbanken pk
2540 The Quadrant
Aztec West
Bristol
BS32 4AQ

Wallscourt Foundation
Trustees. Report
Year Ended 31 August 2022
The tru5tee8 a￿ also the Foundation's directors for the purposes of company law, present their annual Teport
and the audited financial S￿ten￿ntS forthe year ended 31 August 2022. They confirm that trustees, report and
financial statements comply with Charities Act 2011, Companies Act 2006 and the FDundation'5 memorandum and
articles of a550ciation. Theyalso conform tothe Statementof Recommendèd Practice tsORPI applicable tocharities
preparing theii ￿COUnts in accordance with Financial Reporting Stsndarj 102 IFRS 1021 ap￿ICable in the United
Kingdom and Republic of Ireland, which ￿Came èffectwe in January 2015. The financial ststements c¢Jll501idate the
sults ol the Foundation and its subsidiary which throughout are collectively referred to as the'yr¢JJp'.
Purposes and Actlvltles
The purposes of the F¢wndation are to advance and further education and learning Jt or in connection with, the
UnNersty of the West of En9land.
These wrpose5arecarried out bythè provision of fundsfora varietyof actNitiesto the University gr by the provlsion
ol physKal reS￿Jrces for the use ot the University. The Foundation may, from time tts time, assist the University in
other ways.
The trustee5 confirm that they refer to the guidan￿ contained in the Charity Commission's general guidance on
public benefit when reviewin9 the Foundation'5 aetivfties and setting the grant making poIKy. In coming to the
view that its tranS￿tionS are for thè public gcxjd, the trustee5 have taken into consideration that the Univers((y is
itself a charty whose activities 9ive rise to public good, as detailpd in the Universitys annual report and financial
staternents. The Univer51ty also support5 the ￿tIOnS taken by the Office for Students Ithe principal regulatoi of
unwersitiesl to ensure that it complies with and demcffistrates its public benefit. Specifically, thè Foundation and its
subsidiary seek to manage and develop their land and buildings to maximise b8nelit for the Unwersity while
covering their own costs. They do this either by constructing buildings th* can te leased to the UrtiversSty or by
makin9 grants to the University lor specific purposes,
Achl¢v•ments and P•rformanc•
During thè ￿1, the Foundation continued to lease existry buildings te the Uni%*rslty. The Fcxjndatyon also
continued to build on its ￿TSary programme to Students ol the University ot the West ot England.
The Fojndation's subsidiary 501d in September 2015 an area of surplus land inmnediately tothe east of Coldharbour
Laneclose to the Universlty's F￿nchayCamPus, colloquially known as the'LECHL'.The proceeds of this sale ￿e1Ved
from the developer, T￿Or Wimpey UK Limited over three years in in5taltnent5 have been passed over to the
FthjndatiC￿ by gift aid. These funds have allowed the Foundation to be &tivÈ in supporting the major
redevelopment of the Uni¥*r%tl5 carnpu5e5 including the Film and Media building and Design Studi05 building
both at Bowtr Ashton and the Hillside gardens Spofts facility near Ihe Frenchay campu5.
In June 2022 the UnivÈrsity gave the Foundatlon fomal notice to terminate its of P Blc¢k on the 31 August
2024. At thi5 point P Block ￿11 have reached the end of its u5efiJl life so a5 a rewli wthin these accwnt5 the
FOundat￿n has ￿celerated the depreciation of this asset1£781,764 charged) and will by 31 August 2024 have
written down the asset value lo nil.
The Fwndation had agreed to fijnd the Wa115COUrt Scholarship scheme to assist 30 tsrgeted students eKh year for
a ten year period, at an estimated iotal cost of £185,000, wth the aim ol increasin9 partKipation from local
disadvantaged Students. The first cohort of 4 scholar5 joined the University in October 2016, 9 scholars in October

Wallscourt Foundation
Trustees. Report (contlnued)
Year Ended 31 August 2022
2017, 10 scholars in Oclober 2018. 11 in October 2019, 10 in October 2020, 10 in October 2021 and 10 in OCto￿r
2021
The FCAIndat￿n had blso agreed to fijnd the WalIsc￿rt FoU￿all0Th Chair, a research professorship, for a five year
tem, at an estimated total cost of £625,000, to enable the developn*nt of research at the University. Professor
Manuèl Giuliana comnwnced in his post in March 2017 in the Bristol RobotKs Laboratory.
The Foundation agreed to set up a £2m fund (with matched fijndlng of £1 m of QR fijnding from Research England)
to support the ￿truItment of staff with a strong profi'le in hwjh quality research to establish a strorig platform Ity
the longer-tem) growth of high quality research at the University. £637k was committed in thè year to 31 August
2022 to this fund.
Flnanclal Revlew
Rewlts for the Yrnr
con501idated unrestrictod income of the Group comprised rént receivable of £439k12021 £439kl, investment
incomè of £372k 12021 £332kl and other income of £&202k 12021 £8Okl giving a total unrestricted income of
£7,013k 12021 £851kl. In addition, there wa5 the ￿elpt of the rÈstI￿ted funds of £1k 12021 £1kl, giving a total
inconR 01 £7,014k12021 £852kl.
The consolidated Un￿strICted eXpendrtU￿on charitable activities was £1107k12021 £1,421kl and thecostof raising
funds was £28k12021 £118lkl. Thèrè was £6k rèstricted ¢xpènditur¢,fjn tharitable activitie512021 nill, giving a total
eXpendIW￿ Ot £1141k12021 £1,403k).
There wls a £153k increase kn the revaluation ol Ihe investsnent propert￿[2027 £120k drop).
The resulting net income for the year was £5,026k12021 net eKpenditure £671kl. This resulted in an UTh￿$tr￿ted
fvnd It￿s011da1Qd) carried fomard at the end ol the year of £40.8m12021 £35.7ml and a restriied fund 01 £135k
12021 £14W.
Fumrfin9Strurt*s
The Foundation's principal wurce5 01 funding a￿ rental income from L8nd and building5 leased to the Univer51ty
and ot￿r tenants plus investment income arising from cash held on deposiL
Rejerves policy and goiry concern
The Pufpose of the Reseryes Policy is to ensu￿ stabilty ol the ongoing operations of the Foundation and to
support the stratègy of implementing the programme of supptsrt to thè UnI￿r$ity, which is exK*ted tts span
number of years.
The group'5 unrestricted re5erve5 at 31 Auwst 2022 amounted to £40.8m 12021 £35.7ml. The Fwndation,
undesignated free resernts at 31 August 2022 were £18.7m12021 £10.7ml further details are set out In note 19 of
the accounts. The trustees expect that calls usxjn its existing reserves ￿11 increase in future, with & consequent
diminution in the balance ol those reserves overthe bnger term.

Wa115COUrt Foundation
Trustees. Report Icontlnu•d)
Year Ended 31 August 2022
The Reserves PoI￿Y is to split the unrestrKted reserves between designated and undesignated free funds.
Designated funds are funds that have been set aside by the Trustees for a specific purpose. Thèse include a Grant
Rèser%e 01 £474K to meet the ongoing grant ccmmitments of the years ahead and a Property ReseNe rep￿sentIng
the net brK)k value of the 5oKial investyment propertEs and inve5trnent propertiès held by the charity, which wc4Jld
not be easily realisable il needed to meet fijture liabilit￿5. The remaining unrestricted reserves ￿P￿ent
undesignated free reserves of £18.7ffl, is available lor use at the discretion of the Trustee5 in putsuing the charity's
general charitable objectNes. In addition, there is a Restricted Reserve in respect of the John Huliah Trust of £135k.
The trustees a￿ of the opinion that in the light of the level of reseNes above and the continuing stream of rental
income, the group is a going c￿cerTr.
Investment Pol(cy
The Wallscourt Foundation is committed to maintaining sufficient funds in instant access or short nOt￿t prK*d
acccxjnts to meet its ongoing expendttijre needs. Any ￿ndS beyond this, will be invested in low risk deposit xcounts
or fixed term bonds with notKe periods not exceeding year.
In addltion the Foundation has retained 435 8ristol Business Park which is on a convnercbal basis.
The Trustees are satisfied with the investment ￿turnS in the C￿r￿nt year, the pollcy will be reviewed annually.
Future Developments
The sale ol the LECHL in September 2015 and its accunyjlated reserves provide substantial funds to enable the
Fcyjndation to a55i5t the Univèrsity at a veiy excitirig and crur.ial sta9e ol its developrnent. To date that plan has
been inlomed by UWE'5 2020 strategy which take5 into account not OTr￿ the reftlrblshm￿t ol mvch ol the
Universrty's estate also changes t¢ the te&hing and leaming experience to create a student-centred approach
that puts thè University at the forefront of current leaming practice. UWÉ Govemors have now approved UWE,
strategy 2030, which will Shape the Universty over the next 10 year& The key focus in that strategy will be solvin9
future challenges through outst￿ding leaming, research and a culture of enterprise, creatwig opportunit￿$ lor
people to thrive atid flc4Jrish and creating an ingpirlng univeNty as a global gateway to the fvture.
Structur•. Gov•rMn¢e and Management
Wallscourt Fwndatlon is a company limited by guarantee, govemed by it5 memorandum and articles of 3551xiation
dated November 1994 lamended March 20061 and wistered with the Charity Commission sw)ce November 1995.
If the charity is wound up, its rnembers are liable to pay the svm £1 each.
Methodof AppointmentorEl¢rtl•n of Tnths
New twvstees are appointed by the mèmbers ol tho Foundatlin in a general meeting or by the •xlstlng tnjstees,
One third tsf thèm retire year by rotation and are eli9ibleto be ￿-eknted.
Induction and Trowing of Thiste¢J
Newtrustees are provided with appropriate ￿d￿ctiOn and training, takin9 into &count the natu￿ of the Foundation
anLI t￿1r PrevI￿S experience in the charity sector.

Wallscourt Foundatlon
Trustees. Report (continued)
Year Ended 31 August 2022
Organlsational Struciure and Dt¢lslon Maklng
The twstees rneet at leastthree time5 a year and at other time5 if necessary. They have de￿gated the day-to-day
rvnning of the Foundation to the company secretary assisted by other staff from the University ol the West of
En9land ading under a service cC￿traCt. The F￿ndation monitors the performance of its ￿tivitieS by reports and
pres&ntations at trustee5' meetings. The director5 of the FWndat1L￿ and its subsidiary meet regularly wilh senior
stsff of the Unwersity to review the effectiveness of the assistance provided to the University.
Reloted Partles ¢vJd Co.operntlon wlth Other Oryanlsatllw
None ol the trustee5 re£eive any remuneration, expenses or other benefits from their appointment. The
Foundation's only beneficiary is the Universityof thewest of En9land and the Vice-CharKellor is one of the trustees.
Due to the close working relationship between the FCUndat￿n and the Unrwersty, his apw)intment is considered
helpfvl in order io ensure that the tnjstees are fully aware ol the University's strategic plans and objectives. All
transxtions between the University and the Foundation are recorded in note 22 of the financial statements.
The charity'5 wholly owned subsidiary, Bristol Polytechnic Enterprises (Developm￿ts) Limited was estsblished to
own the LECHL and undertake any other suitsble trading or Investrn￿t activib'e5. The entity gift aids the majtsity of
it5 profits to the charity.
Rlsk Manwertt
The trustees have a risk ManageD￿nt strategy thbt comprises.,
reviewing the Foundation'5 risk re915ter at least onLi.? a year
estsblishing policie5, Systems and procedures to rnrtigate risks identifipd In the register, and
devlslng procedures designed to minimise thè ptstential impact should those risks materialise.
The trustees believe they have adequate pr¢xedures in place to rnr(igate the risk5 to which the Foundation is
eKp95ed.
The rnain risk identified, whKh is Still classified a5 unlikely, is thè loss tsn depositslinveslments due to bank defauhs.
However all inve5trnents are made In accordance with the investment policy which has a k)w risk approach. The
Trustees aim to strike a balance between the ri5ksof losses from bank defaults and the desiretoobtain a reasonable
rate of retyrn on the charitls investry￿rttS.
The Trustees assessed the impact ol the Covld-19 pandemic on the Foundations activit￿5 and concluded that there
was not likely to be a material impact on its currènt 01 future actNities.
Grant Moklng Pollry
The Foundation has esiablishèd its grant rnaklng policy to achieve Its objects for the public benefit. The grant
aking polKy is reviewed annually to ensure it reflects the charity's objects and thereby advances publK benefit.
Thè beneficiary of our grant program￿¢ is vltimately the Unwèrsity ¢f the West of England and Its student&
PuyPoU¢y
The directors consider that the board of directors, who are the Foundation's trustees, and the company secretary
comprise the keymanagement personnel ofthecharityin charge oldirecting and £oritrolling. running and operatsng
the Fcundation on a day to day ba￿5. All direttors give theirtime free￿ and no director received remuneration in
the )*ar. See notes 6 and 7 of the accounts.

Wa115¢0Urt Foundatlon
Trust•o5' Report Icontinu4d)
Yèar Endéd 31 August 2022
Statement of Trustees. Rèsponsiblllties in respect of the Financial Ststements
T￿tnJstee5, whoare the d1￿clO￿ of the Foundation forthe wrposes of company law, are responsible for pieparing
the trustees, ￿Port and the financial statements in acctsrdance￿th applicable lawand United Kingdom accounting
standards (United Kingdom Generally Accepted Accounting Practice).
Company and charity law ￿Quire the trustees to prepare financial 5tsternent5 for each finarKial year that give a true
and lair view of the Foundation's state of affairs and ol its incoming and out90ing resource4 including the irfome
and expenditure lor that period. In preparing these linancial statements the trustees are required to..
selert suitable accounting polKies and then appty them consistendy,
observe the methods and prI￿lpleS of the Statement of Recommended PractKe Accountin9 and
Reporting by Charities.;
makejudgments and estimates that are reasonable and prudent.,
state whether appllcable United Kingdom ￿COuntIng stsndwds have been followed subpct to any
material depar￿￿5 disc105ed and explained in the financial statement5,' and
prepare the fIn￿CIal statements on the going concem basis unles5 It is inappropriate to P￿$￿￿* that
the FcAJndation will continue in operation.
The trustees a￿ re4)onsible for keepin9 proper acicxjnting records that disclose with reasonable accuracy at any
time, the Foundation's fIn￿CIal position and enable them to ensure that the financial 5tatemthts comply with the
compan￿SAct 2CQ6. They are a150 ￿Sponsible forsafeguarding the Foundation'5 asset5 and hence for takiThJ step5
lor the prevention and detection of Iraud and other irregularitie&
Provlslon of Informatlon to the Audltor
tmstees who held offKe at the date of approval of thi5 trustee5' report CC￿rI￿ thaL so far as thty are aware..
the￿ is no relevant ￿drf( information ol which the companys auditor is Unawa￿,. and
they have taken all the stèps that theyou9ht to have laken, as trustee& to make themsel￿5 aware ol any
relevant wdit information and to establish that the company's ￿dItor is awa￿ of that informailon.
Audltor
Thè audrtor, MazaTS LLP, is willing to continue in office and a resolution for its reappointment wll be prosThd at
the forthcomin9 annual general meetin9.
Appro￿1
The trustees have prepared this ￿POrt in accordance with the Provi￿OnI applicable to companies gjbject to the
small compani*, re9imè.
This rep¢yt was approved and authori5ed for i55U? on 13 February 2023 and signed on its behalf by.
atshall
Trusteè

Independènt auditor's report to the members of Wallscourt Foundation
Oplnlon
We have audited the financial statements of Wallscourt Foundation Ithe 'parent charity'l and its sUbsid￿ry Ithe
'9roup'l for the year ended 31 August 2022 which comprise the Consolidated Statement of Financial Activit￿* the
Balance Sheet. the Constslidated Cash Flow stsiement and mtes to the financial statements incljding a surnmary
of signilicant accountin9 policie
The ffinancial reporting framewts￿ that has been applied in their preparation is applicable Liw and United Kingdom
AcC￿nting Standards including FRS 102 "The Financial Rewrting Standard applicable in the UK and RepublK of
Ireland. IUDited Kingdom Generally Accepted Accountin9 Pr&tKel.
In our opinion. the financial statement¥.
give a true and fair view tsf the state ol the group's affairs as at 31 August 2022 and cf its income and
èxpendiiure for the year then ended.,
have been propety prepared in accordance with United Kingdom Generally Accepted Accounting
Practice., and
have been prepared In accordance with the requirerr*nts of the Companies Acl 2006,
Basls for oplnlon
Weconducted ouraudit in ￿(ordanCe with Intemational Standards on Auditing IUKI IISAS IUKII and applicable law.
Our ￿sPonSibl11t1es underthose standard5 are fvrther described in the Auditor's respon5ibilit¢e5 for the wdit of the
lif14ncial statements section of our ￿pOrt. We arLi indepvndent ol the group in accordance wth the ethKal
requirements that are re￿ant to our judit ol the financial Statements in the including the FRC'5 Ethical Standaid
and have fulfilled our other eihical responsibilities in accordance with these requirements. We bdieve that the
audit evidence we have obtained is suffKient and appropriate to provide a basi5 forour opinion.
Concluslons r•latlng to golng conc•m
In auditing the flnanclal Staten￿nIS, we have concluded that the trustees, use of the going concern basi5 of
accounting in the preparation ol the financial statements ts appropriate.
Based ori the work we have perfomed, we have not identtfied any material uncertainties relating to events or
conditions that indNidually or collectively, may cast Sl9nificant doubt on the gioup's ability to continue as a goin9
concem for a ￿rIOd of at least months from when the financial stalempnts a￿ authorised ttsr issue.
Our resP￿stbIlItieS and the responsibilitvès of the tIU5tees wth respett to going con¢em are described in thè
relevant 5ecti4Ms of this report
Olher Informatlon
The other information comprises Ihe inlorwnation included in the Tru5tee5 Repor¢ i)ther than the finar￿la1
statements and our auditorfs reportthereon.The trustees arè responsib￿ forthe other information £ontsined within
the annual report. Our opinion on the fillancial Statements does not cover the other Infom)ati￿ and. except to the
éxtènt othe￿1$e explicitly stated in our report we do not express any fomi of assurance conclusion thereon.
Our responsibility is to read the other infomiation wd, in doing so consider whether the other information is
materially inconsistent with the financial staternents or our knowledge obtained in ihe course ol the audil, or
othemse appears to be materially misstated. If we identify such material inconsistencies or app8￿nt material

Independent auditor's report to the member5 of Wa115COUrt Foundation (¢ontinued)
mi55tatemwts, we are required to determine whether this give5 rise to a material mi55tatement in the fina￿la1
statements themsefves. If, based on the woth we have pertormed, we conclude thatthere is a material misstatement
of this other inlomatiory we are required to report that f￿t.
We have nothing to report in this regard.
Oplnlons on other matters prexrlbed by the Companles Acl 2006
In our opinion, based on the work undertaken in the course of the wdit..
the inlomution given in the Trustees, Report for the financial year for which the finan¢ial statèmènts are
prepared is consistent with the financial statement5', and
the Directors. Reryirt included within the Twstees, Reporthas been prepared in actordance with applicable
legal Tequirements.
Matters on whlth we are requlred to report by exceptlon
In light of ihe knowledge and understandin9 01 the gfOUP and the pawt charity and its environnpnt obtained in
the course of the audit, we have not identified rnaterial misstatements in thè Trustees, Report.
We have nothing to Teport in ￿sPeCt ol the fdlowing matters in relation to which the Compan￿5 Act 2006 requires
us to ￿port to you il, in our opinion..
adequate accounting rgcords knvonot I￿en kept, or retums adequate for our audit have not teen rL¥:eived
from branches not visited by us,. or
the financial statements are not in agreement with the accountin9 records and returns,. or
certain disclosu￿5 of trustees, ren￿neratIOn spetilled ty law a￿ noi made., or
we have not received all the inlormation explanations we requi￿ lor our audit.
the trustees were not entitled to prepare thè finar*ial statements in accordancè ¥￿th the small cornpanles
regirnè and takè advantage of the small companies, exempticm in p￿parIng theTrustees' Report and from the
requirement to prepare a Strategic Report.
Responslbllltles of Trurtees
As explained more fvlly in the trustees, respon5ibilitie5 Statement set out on page 6, the trustees aro responsible for
the preparatian of the financial statements and lor being satisfied that they give a true and fair ¥￿, and for ￿ch
intemal cwtrol as the tW5tee5 deternine is necessary to enable the preparation of fmancial statements that a
free from material misstatemenL whether due to fraud or error.
In p￿Paring the financial statements, the trustees are responsible for assessing the 9roup's and the parent charity
ability to continue as a going c￿ern, disclosing, a5 applicable, matter5 related to going concem and using the
going concern basis ol accounling unless the trustees either intend to liquidate thè gr￿p or to teasè operatlons,
or have no realistic alternative but to do 50.
Audltor's responslbllltl95 for tho audlt of the flnandal stalements
Our objettlvès afè to obtaii ￿asonable assurance ab)ut whether the financial statements as a whole are free from
material rnisstatement. whether due to fraud or error, and to issue an audito¢s report that includes ouropinicffj.

Indépendent auditor's report to the members of Wa115COUrt Foundation (conllnuedl
Reasonable assurancè is 3 high lèvèl of a55urance but is not a guarantee that an audit conckncted in accordance with
ISAS IUKI will always detect a rnaterial misstaten*nt when it exists. Misstatements can arise from fraud or error and
a¥e conSide￿d material if, individualty or in the aggregate, they cwld reasonably be expected to influencè the
ecOn￿nIC decisi¢ms of users taken on the basis of the financial staternénts.
The extent to vhich ￿Jr procedures are capable of delecting Ir￿guIant1e4 including fraud is detailed below.
IrreguL4ritiei inckjding fraud, are instances of non-c(￿P11ance with laws and regulations. We design pr<xedure3 in
line with our ￿ponsIbIlitieS out11￿￿ abtsve, to detect material misstatements in respect ol irregularities, includin9
fraud.
8ased on our Underst￿ding ol the grojp and the pa￿￿t chafity and its aclivities, we conSide￿d that non-
compliance with the following laws and regulation5 m*ght have a material effect on the financial statetnents..
Companie5 Act 2t)S CharitiesAct 2011, the Charities Statement of Recommended PraclKe, UK tax legislation, anti-
money launderin9 regulation.
To help u5 identify instances ol non-compliance with these laws and re9ulations, and in identifying and a5se55in9
the risks of material misstatement in respect to non-compliance, our proced*res included, but were not limited to..
Inquiring ol managemènt and, there appropriate, those charged with 9ovemance, as to whether the 9roup
is in cornpliance with laws and regulatio,-,% and <Jiscussilly tl)eir ptslicies and procedures regarding compliance.
with laws and regulations
Insprftin9 torrespon(lence, if any, ￿th relevant IKensing or regulatory ￿thorItIeS,.
Communicating identified laws and reyulations to the enga9ement team and remaining alert to any
indications ol non-complwnce throughout our audit,. and
Considerin9 the risk ol acts by the group %4thi¢h were Contrary to ap￿1{able laws and regulations, including
fraud.
We also conside￿d those laws and re9ulatlDn5 that have a direct effect on preparation ol the financial
Statements, such as tax ￿gISlation. Charities Act 2011, the Charities Statement of Flecomn*nded Prncticè, the
Compan￿5 Act 2(K6.
In addition, evaluated the tNsteès' and mana9ement'5 incentives and opportunities lor fraudulent m￿lpulatIon
of the financial statements including the risk ol managementoverride ofcontrols, and determined that the pri￿ ipal
ri5k5 related to ￿stIng manual journal entries to manipulate firia)cial performance, management bias through
judgements and assumptions in significant accounting estimates. in particular in relation to revenue recognition
(which we pinpointed to the cut off assertion and svjnifieant one-off or unusual tran5actirmsl.
Our audit procedures in relation to fraud included but were not limited to..
Making enquiries of the trustees and management on ￿ether they had knO￿edge of any actual, susperted
or alleged fraud,.
Gaining an understandSng of thè internal contrds established to mitigate risks related io fraud..
Discussing amongst the engagement tearn the ri5k5 01 fraud,. and
Add￿SSing the risk5 of fraud through management override of controls by performing joumal entrytÈstin9.

Independent audltor'5 report to the member5 of Wallscourt Foundation IiontinuÈdl
There are inhe￿Tht limitstions in thè audit procedu￿$ described above and the primary responsibility for the
prevention and detectitsn of irregularities including fraud restswih management. As with any audil there ￿mained
a risk of non-detection ol irregularities, a5 these may involve collusion, forgery, intentional omissions,
misrepresentations or the override of internal contrds.
A further descript￿ ol tyjr resKX)nsibIfit￿S lor the audit of the financial statements is located on the Financial
Reportin9 Council's website al This description forms part of our auditor's
report.
Use of th• audlt report
This report is made solely to the charit15 members &5 3 body in accordance with Chapter 3 of Part 16 of the
C¢Jmpanies Act 2¢￿6. Our audit work has been undertaken so that we mujht state to the charity's members th05e
matt¢rs we are required to State to them in an auditof s report and for no other purpose. To the fullest eKtent
permitted by law, do not accept or assume resptsnsibility to anyone olher than the charity Mern￿rs as a body
fof our audit worl for this reporL or lor the opinions we have formed.
Jonatfian Marchant Senlorststutory Au¢Jilor
for Jnd on behalf ol Mazars LLP
Chartered Accountants and Ststutory Auditor
g) Victoria Street
Bristol
BSI 6DP
Oate.. 20 February 2023
10

Walls¢ourt Foundatlon
Consolldated Statement of Flnancial Actlvities
Year Ended 31 August 2022
31 A￿l￿$t
2022
31 AuAuSt
2022
31Aul￿t
2022
31Auiust
2021
£(KJo
[11rnts￿h$J 112thtsftthÈ1 112rnwthil
Restricted
Unrertnrted
112nxYrthsl
Tot¥1
Income
IDcoMe frtyn ch8rlfab￿ artmtles
Rent recelvable
439
439
439
It)vestmet)t Income
372
373
333
Othtr Income
6.202
6,202
7,013
7,014
852
Expendl￿re
C05t of rJisln8 funds
Invpstmeni piopertles
TradlnB
Expefidltuie on charlt8ble actmtles
Charltable artlvliles undertaken dlredty
Grlni fundlth8 of charltable actIv￿leS
1221
io
io
I,J27
1327
786
661
760
2,135
2,141
1,403.
Wet In¢on* (Emptrnd￿rè1Itt th Y•at
4.878
15511
RevBluatlon of In¥e5rment propertle5
153
153
11201
N•t MDv•ffl•ntof Fun
5.031
S,026
16711
Funds brou8ht forward at 01 September 2021
18
35.736
35,870
36,547
FyhdsC*rrlod For¥Mrd ataiAuwst 2022
18
135
40,767
40,W2
35,876
The statement of flnanclal artI￿lIeS shows all8aln5 and losses recognlsed Sn the ￿ar.
All Income ¢Jeflves from contlnuln8 attmtles.
li

Wallscourt Foundatlon
Balance Sheet
At 31 Auiust 2022
Group
Fotsrthtlon
Not•
2021
Er¥Jo
2022
2021
tJlAuyJ&tl
I$iAughotl
131 Auwrtl
Flwed N5sets
Investment Property
5odal inve5tmert Property
12
3,773
17.B36
3,530
19.085
19.085
17M36
2L609
22,705
21,46
22.615
C¥rrentAs%ots
Debtors
Short term depo￿15
Cash at bonk
Is
6J95
12A26
323
12.370
297
IL604
322
11,551
693
IZ.566
19,605
13,497
IU55
Cwrent U•bllttles
Credhor5.' Amounts fallln8
due %vlthln one yeaf
16
(31ZI
13261
13261
19,293
13,171
12.240
Totsl As5tts leh
rr•ntUibllltks
40.gn
35.876
33.729
34.855
35,876
33.729
34,855
Fuktholth• Fourthtton
Re5trlcted funds
Unrestrkied funds
Totsl Funds
135
40.767
40,902
140
35,736
35,876
ijs
33,594
33,729
34,715
34.855
The irustee5 have prepared youp atceunt5 in a¢cordatKe wthh sertion 398 of the Companies Art 2(K16 llnd
5ecikin L38of the CharIt￿S Aci 2011. The accounts are prepared In attordanct whh the special WOVi$HJns
of part IS of the Companles Act ielaiin8 tosmall companle$ constltutethe annual accounts roqulred
bythe Companles Act 21JJ6to be drcuLated to memters.
The notes on po8es 14 ta 21form partofthese ￿tOunts. The lknanclal sraiements were opproved bythE
board of trusteeson the 13 February 2023 and wEre s18ned on itsbehèSf by..
Trustee
CompinyAei15tr4t+on N￿mber.. 02991142
12

Walls¢ourt Foundatlon
Consolldated Cash Flow Ststement
fortheJZmothended31Auiwr102Z
JIA
31 knIu5t
2021
ote
2022
112 rntsnthsl
Net cash It￿wI from operatlw actlvltles
23
Invesrinqo¢tfvltte5
Rwurnson In¥e5tments and swvlclng of finance
Interesi recelved
77
Net C05h Inflowlrom investlng Ottlvltles
54
InCrni￿l￿ u¥h •nda%h ¢qu￿•1•nts
36
Cash oi c•5h equfvalents ￿0V8htIO￿afd
13,174
13,638
C•sh•ruthequlv•l¢nts¢•rrl¢d Iw4
13.174
13

Wallscourt Foundation
Notes to the Flnanclal statements
Year Ended 31AUXUSt 2022
l General Informadon
The compaNy wa5 formed on the 16th November 1994, Is Ilmhed by guarantee INO 029911421 and a
re815tered charSlY (Wo 10504681. The wmpanyls re8lstered in En8land and Wales. The charity's re8lstered
office Is do Finance Dept. Unlver5ity of the Westof England. Frenchaycampus, Br15roI, B516 IQY.
2 A¢￿￿￿￿n¢p0lclts
The yincipal accountlnÉ pol£￿&4d0pIed, ludÉmen15 and key sources of e5timatbn lThthe accounts
are aslts11ows.
The fhlènclal sia¢emenr5 have been prepaied irt accordante wlth
the Flnanclal Reportlng sraodard applicable In the Unlted %ln8dom and ftepubllcof Ireland
IFR5 1021 whith ett￿tt￿e in lalluary2015
the Staiemeni ol Recomrtiended Prartke ISORPI #ppll¢abk ¢0 ¢harllles preparkn8 Ihe
ttounts In attordaneewith FRS 102
the Companles Acl I￿.
The Fouffldatlorb meets the defknltlon of a publlc benelt entmyunder FRS 102, Assets and IlobllltlE5
ave lnllla1￿ reco8nlsed at hlslrykal cost ortransxtlon value unlp55 Otherw15e stated In thE relev*)t
gccountln8 poli¢y notes.
In prepaiknlthe flnanclol 5toternenis,11 has not been necess8ryto mBke s14nlficant judgment5 and
estlmwtes.
After rpvlewln8the company's forecasts and prolectloD$. the trustees have4 rea50noble expectat￿￿ th•t Iht
Foundatlon ha5 adequate resources lo contlnue In OPerat￿nal exlstence for the foreseeable luture. It, Iheiefore
ontlnues to adopi the 8oln6 toncerTh basls In prepavkngihe flnanclal statements ITrustee5 repurt p4ge 3 &41.
The statemeTrtof nnancl31 actlvltles ISOFAI and balance sheet tonsolldate the resuftsof the Foundatlon
and115 sub5101èr¥. The re5ulrs of the sub51dlary are ¢onsolkS•ted on a Ilne byllne bèsls and no separato
SOFA has been prèp•red lorthe Foundètlon aknne a5 permttted bysertlon408oftheCompanles Act 21Xl6.
Unrestrlrted fvnds ale fund5whkh are expEndable •t the trustees. dlsuetlon In furtheiance of the Foundatlon's
oblotis. Resiricted funds reweseni Income received where the dDnDi or the rbature of the appeal genoratins the
Incoffle ha5 Irnp05ed restrictions •5 to how the monles shall be used.
All Income islnduded It)the SOFA and can bequ3fit￿ed %vlih reasona￿￿ accurary. The prlmary
income of the FouThdatlon'5 sub51dkJrycompany (UK re8tsteredl Is trom Ihe hoklln8 of ID¥estmen¢ properlv.
Interèst on funds hekl on deposl Is Included when r￿ctI¥able thE amount can be fftea5ured
rell3bly by the company., thi5 15 normally upon noriflcatlon of the Interest pald or payable by the bank.
Asa re8151eied chaitty. the Foundatkjn lsexemptfrom taxatlon on ￿$ Income and galnsfallln8
within 5ectlon 505 of the Taxes Act 1988 01 SectvJn 256 Dlthe Taxation of ChafgeaNeGain5Att 1992
ro the extEntthbt theyare applied ID It5 charitable oblectlve5. No tax thorge has arlsen In theyear.
14

Wallscourt Foundatlon
Notes to the Flnancial Statements Iwrtlnuedl
Year Ended 31 Aw8ust 2022
2 Prlndpal A￿UmIn¢POlIc1eS¢co￿knuedb
h FlXe6Ars•r/sarA￿thwstrnffnta￿P01JcV
Flxed as&ets/Soclbl Investment assets are stated at cost less accumulared depreda¢ion. Depreciatwin 15 provlded
ai thefollowkiB onnual rates towrkeoff the costof tho asset overtheir estlmated useful Il¥es.'-
Estlmated Ille 50years
Sports Facllftles
E511m*ed Ibfe 25 years
Furniture & ffttlng5
E5tlrnatpd life I to5 years
Where equlpment and flttlngs are w0￿ded as part of the buiklin& whlth15 let wkh annual break
dauses inthe lease. then thot C05t i$fvlly depreci**d knthe first veèr ofthe lease.
Debt5 are le¢￿niSed atthelrorlÉlnal valuè lessany prov15kin for Impalrment In thelr value.
CredKors ar¢ shown at theli orl8lnal value.
All expendltuie Is attouThted for on an acuuals basls. Overhead and other Support C05t5 not direllly
Itflbuiable io a partkular futKtlonal artivlty are apportioned on the basls of rnbThwment estimatès.
Expendlture by Ihe Foundailon's subsldlaiy, whlch15 conslstentwhh the Fouthd•tlON'S thirltable
objec15, Is recorded under'charllable 8¢tlvllles'.
l Gmnts Poypwl
Gtarts payable are iecordeL¢ In the 50FAwhen 115 belleved thli there Is a ¢onstructl¥e obl*at￿n under
Fft5102. As explalned in the SORP, g tonstructhe obllgatlon, In thls conie¥t, arlses when the trustees
have communkated thelrfundlns decislon tothe Unl¥er51ty.
Investmenl properly Is land and bulidln85 held for ienial ineome or cgpltèl appredatlon, Theyare In￿￿
meèsured at C05t and sub5equenityat fall value wlth movem*nts reco8nlsed In the SOFA. Propeitlesare
T￿1 depreclated but revalued ur rèvlewed ant)ually.
ThE compgnyonly has fflnanclal bs5ets ond lIna￿lOp Ikbllltlesof a klnd that gu411fy a5 bè51c lknanclal
In5tiument5. 8isi¢financlbl in5trurnent5 are 1n1ti￿￿￿éC0ln1Sed at tran5artlon value and 5ub5equentlv
measured ot thelr settlemet)tvaluewllh the excepth7n of ban* loans whlch ère subSequeni￿ measured
atamort15ed cost U51n8 the effeCt￿e Interest method.
ThÈ hÈadlth8'tash at bank, Includes dep051ts repayable wlthln 24 hour5 w51houi peThotty, all other
depos115 belng Included wlthln rhe headlng'shorl term deposlts,. All cash at ban* and shori
term dep051ts are held at approved ¥Ylthlnthe Unlted Klngdom.
p Leqses
Operatin8 lease rentèls aietharged tothe SOFA on a strat¥ht Ilne basisover the pErlod elthe lÈa5è.
fk4ntJvdymerrfJ•nde511rnaie5
Due to the nature ind location of a number of the Foundat￿￿.5 Investment Propeitle5, theTru5te25
ha¥* used a dlscounted iental Y￿U6110n approach to 3￿rtain ètsir vèlue.
15

Walls¢ourt FoundatSon
Notes to the Finandal Statements Icontinfftdl
Year Ended 31 Auiu5t 2022
3 Le8Jl sts￿$ olthe F•wdBt
The FoundatKtn 15 3 mmpany limited by guarantee. In the event of It beln8wound up. the li8￿1fty1th respert ol
theguarantee ts Ilmlted 10 £1 per member.
4 Flwthclil Perfoim•n¢eolthe Foundati
The consolidated Statement of financyal •alvltles kndudesthe iesutts of Ihe Foundatlon'swhollyowned subsldlaiy,
Bris101 Polyte¢hnlt Entetyrlses (Developmentsl Limbted. The summary posttlon of the Foundailon alone Is:
Summ•ry profftind105si£(aunt
2022
£oty)
2021
iumrahthÉl
113 m￿1￿]
IncDme
810
770
Expendlture on tharhtab1e Ktlvltles
111341
11,3241
11,3991
Revaluatlon of Investment property
14•lmwomthtolfvn
120
11201
17491
11,2041
Tot4lfunds bwouihl forward
Glft èhl fiom 5ub51dlary
34.855
78
35,355
249
J3.n9
34,855
5 Brlstol Potyts¢hnk Entorpr15•s IDqvelowrtntil Umlt*d
The Foundailon hasa wholly owned 5ubsidl4ry Incorporated h the UK 8rlstol P￿¥technIC Ehttrwlses
Ioeveltsprnentsl Llmfted IBPEOI, whose pilnclpol odlvlty Isthe developrnent of13nd, ond the cGn5tiuctlon and
asln8 Df bulldin8s for the beneftt of the Unl¥er511y of the West of Ef*gland, ThIs4dl￿tY 1$ ￿n$[stent wlth the
Foundatlon'$ ¢harltable oblettlves and the relevant cost5 ore, therefoie, Included Wlthln'tharltableBdfvK￿S'.
BPED Ilmfted by share capllal and Is ie815tered In EngLqnd INo023882911. Its re8lsteied office Iselo Flnance
DepaitmenL Un￿er$I1V0ftthe West of England, Frenthdy Campu¥ Brlstol, BS16 IQY.
8PED'5 surnmèry flnanclal posltlon15 shown bekiw
2022
2021
IIR mwth&l
Interest reCe￿able
Other Irwme
6.101
6,205
B2
Interest payable
otherexpeThJiture
Revaluaiion of Investment propErtv
18)
3J
Prvllrfvrthtprtod
6,Z30
78
16

Wallscourt Foundatlon
Notes to the Flnanclal Statements IMndnued>
Year Ended 31 Augu¥t 2022
S ￿1$to1 Poty￿hnIC Enterwlses IDe¥elopn*nisl Un￿le￿ 1¢ontIn￿dI
Z021
13lAu￿St)
131AviuStl
CurrenrAssets
7,173
1.021
Amounis payèble In more than one year
Totsl Tret 05sets
7.173
I,ozi
A8Bre8ale sh¥e upltol and reserves
7,173
1,021
fj Tmstees, Remuner•¥on
No remuneiaison or empenses have been pa* to the FoundotiDn'5trustee5 orthe dlrertors oFlts sub51dlary In
the yeai under le￿eW or Ihe previous ye•r.
75tsff
The Foundaibn ho5 no employees, tt5 admln15tra¢lon beln8 uttled wl by 518ff from the Unl%*rsliy tyl lh¢
West of En8land under o swvlce contracl.
8 IrKoM1￿ R•souv¢•ifrom Clknrlt•lA• ActlvftbEs
2022
2021
112 mtythil
112rrrttths1
Refii receIVab￿ from knd aThd bulld1￿$ let to ijnlverslly olthe West of En8lind
439
g In￿stment Intomè
2022
£0
2021
EorK)
112 monthil
8an* Interert reteN8ble on deposAs
ftent receivab￿ trom ￿nd at)d bulldiws
54
279
296
373
333
17

Wallscourt Foundation
Notes to the Flnancial Ststoments Icontinuedl
Yeir Ended 31 Auiust 2022
10 Analws of Eypendlture on Charftabl•A(tlvllles
2022
2021
112m￿thI)
Cost5 relatlngto land and bulldlnÉs ￿a$edt0 the Universlty ofthe Westof Eng￿nd
Operating ￿8$e rentats
Depreciatknn
3S
587
622
39
661
1.249
1.284
Support and go¥*rnano costs
L327
GmtF•olCltortMbleAciivltkns
Grants io the Unfverstty of thewest of England to fUrt￿r its support ol
me￿01*al bursary & other sUPPOrt
Willscourt 5cho1¥5hips
W•llscourt Professor & Felfv$hlp5
16
14
754
n4
15
699
758
Support and 8f*vernan¢e coms
786
760
Thls note prowldesan 4naly51sof the conwlldated exPend￿￿re of the 8IOUPas shown In the consomdated stotement of
flNandal ac¢ivitie5 Qn PB8e ii. The tO5ts Iiave been apportloned between thecharltable ind thegrant lundln8
actl￿tIeS on the ba$15 olan estlm*e ol thetime and re50urce5 spenl.
Z022
2021
11 DffApport•nd GO¥ern•￿t Costs
M•na8emont chèr8e Isoo note 71
Governance cost5
Audlt ftes
35
45
41
Apptyrt(Pm•41
Charltableactl¥ltlp5 undertaken direttly
Gratht IuDdlnB on chaittable act￿111¢$
43
39
41
The abo¥e opportlonment ha5 bÈen made usln8esfjmates olthe tlme spem on each acimty.
12 In¥eth￿nt prapert¥
Ba515 of wdluatb)n
w￿1￿0￿rt￿OWd0
The Fo¢Jndèibn has one Invesrrnent property.ThE property. 8uildln8435 L¥) ihe Bristol Business Pèrkls let
(Dmrnerclaltyand has been Independerstly valwd b¥Alder KlnBi thls lsiellBfted bEIow.
The sub51dlary'51n¥estment land w¥s Val￿￿ by Alder th8 at 31st Au8USt 2022thls valuafjon Is reffeoed bebw.
18

Wallscourt Foundatlon
Notes to the Flnanclal Statements Itontlnued)
Yeèr Ended 31 Auiust 2022
12 Investment Property
Group
21)22
FtyJI￿•￿0n
2022
2021
2021
£ory)
IIIAuy￿tl
I31A￿ul11
131 A4urti
Mhtorf(ulCost
Asat31 August
4,860
4,770
4,770
4,770
4,770
Balance at 01 September
Transfer from Property under¢onstrv¢tion
Revaluation of property
Balanre at 31 August
3,620
3,740
3,530
153
3,77J
120
3,6SO
11201
3,590
9,620
13 Sotlal Inw4strMni Prop•rty
Found•¢lon
2022
2021
2021
£0
131Awuitl
tJL*J4ust]
131Awil
Co
A5 at 01 September
AddlLlor15
20,919
20.919
20,919
20.919
As at 61
ZO,919
20,919
20,919
20,919
l)epre¢l•t¢•n
A5 atol Septpmber
Char8e forthe perlod
A5 ai 314￿¥st
1,834
1,249
3,083
L247
587
1.834
1,834
1,249
3,Q83
1,247
587
1,8Y
B•okVal￿•
As at 31Av8USt
17.836
19,085
17,836
19,085
Proporty undwtmstructlon
There are no propertles under constructlon
19

Wallscourt Foundatoon
Notes to thè Nnanclal Statements IcoTrYnuedl
Ye•r Ended 31Ausu5t 202Z
J5 Debtors
Group
2022
FoundJtion
2021
EL￿0
2012
£th)o
2021
£coo
Pl•￿iuS￿l
131 Awustl
131 Au8U5tI
Piepayme*rt5 and attrued Income
ebtors
54
269
74
53
269
6,395
323
297
322
There are no lon8 term debtors
16 Credltars.. Armurts Fallbni Due Wlthlhij￿yè•r
Gioup
2022
Found•Uon
2022
2021
Éots)
2021
£0
ill Au￿￿1]
I31A￿¥￿Ill
131Auquitl
Ac£ruals
Dtferred Ineome
VAT
47
237
52
47
52
244
30
326
237
28
312
30
326
312
Deferred Income ielate$ solely to rènt rÈcefv8ble or Other Income recel%*d In advgKe of the b31arKe Sheet
daiÈ.
Group
FowKkntlon
oo
244
12441
237
217
8alarKe ai i September 2021
Amount released In ihe year
Amount deferred In the year
alanceasat 31 A￿￿$t 2022
244
12441
237
137
17 Q•dlt4rs.' Afmunts F•llln8 DueAft•r Offl•Y•ar
There are M cr¢dlttxsfallln8dueofter more than oneyeai.
20

Wallscourt Foundation
Notès to the Flnanclal Ststements Iconunuedl
Year Ended 31 AvEv5t 2022
18 Rasevves
Balan¢e
01.Sèp20
balanre
31-Au8-21
Income
Empendlturt Rtvaluatlon Trnnsfe
£O¢KJ
Unrestrlrted funds
General fund5 Ifoundatbn
Subsldlary lund5
Desl8D•tedlund5
Operating resern*
Soclal Investment Property reserye
InvEstment Property rese
8ulldSnB de¥elopmenr reserve
Tot•1 urwe5tr1¢ted lunds
£￿0
769
82
8.475
1,192
11.3991
1,786
12491
9,631
1.021
3,210
19,672
3,740
119
36.408
18311
15871
2,379
19,085
3,620
11191
851
11,4031
35,736
REstrlcted lurtds
John HullahTru5t fund
139
140
140
Totsi fesirt¢tedlund5
139
Total tund$
36.547
852
11.4031
35,876
Bal￿¢¢
014ep21
£o(KJ
Bal￿¢4
31-Aui-22
£000
In￿mE
Exp¢thdltur¢ R¢vily•tl¢h Trnrthri
£000
Unrestrlrted fwd:
General lunds Ifoundallonl
Subsldlary funds
De$l8Mi•d hjndi
Grant reserve
9,631
1.021
12,1271
181
3,199
11,511
7,173
6,205
1379
19,085
3.620
11,9051
11,2491
474
17,836
3,773
soc￿1 InvÈstmÈnt PropÈrtyieseNe
In¥tstrnent Property reseNe
153
Totthl ur*•*irt•dfllnth
35,736
7,013
12,1351
153
40,767
Re5trltted funds
John H￿lah Trvsi fund
Total restrlttEd lunds
140
140
135
135
Totsl funds
35,876
7.014
12.1411
153
40,902
The Giantdv￿￿nat￿d lund fepre5ents4mounts set a￿de to meet future known Brant commttments.
The two Pf4)perty desl8nated funds r*presÈntthe h)¥esiment In Soclal In¥esimenL ènd Investment Propertles.
The Bulklln8development reserve represents **oynts set &sldeto¢¢mplete Qn 8oln8 W0Wrty de¥elopment.
In 2017 fund5 weretransferred from thejohn Hullah TrusL a dDrmant tharity, into è restritted reserve.
The fund5 are hekl ascash ènd are to be used for the provI5knn of bvrsarles and other support for Ihe
Studentsof the Faculty olArt, Creative Indu5tflE5and Education.
21

Wa115COUrt Foundatlon
Notes to the Flnanclal Statements Iconttnuedl
Veir Ended 31 AuAUSt X$22
19 Analy45 of6ro¥p NetA55ets BElween Funds
undel￿atsd
P¥opBrtv
£'TrJo
Opera￿￿*0
Restrlcted
Totsl
31.OB.2021
soc￿1 Investment woperty
Irwestment Propertv
Cash at bank
19,085
3,620
19,085
3,620
13,174
10,655
2,379
140
Other Neicurrent Assets
Total
10.652
22,705
2,379
140
35,876
Unde4￿•1
se￿e
Propertv
Gr•rt
ft•strl¢t¢il
Ttyi*l
31.08.2022
Soclal In¥e5tment propert¥
In¥e5tment Property
Cash 8t b8n*
Oiher Net CutyeniAssets
17,836
3,773
17,836
3,771
13,210
6,083
12,É41
474
135
Total
11.684
21.609
474
135
1012
2021
£￿0
Flnanclèlassets measured at amorttsed cost
FlnarKlal Ilabi1rt*5 measured at amortlsed co
19.605
13121
13.497
13161
21 FIMrK141 (￿￿M}IMents
2022
1021
OperaisnB lease5
Due.. Wllhln one yeai
Betweèn ané fve years
After flve years
39
3,184
3,378
22

Wallscoun Foundatlon
Notes to the Flnanclal St*èmentS Icontlnuedl
Year Ended 3LAuiurt 2022
12 Related P•rti¥
Professor S Gwesi, atru*eeof the Foundaikin, is the Wice-chancelbr of the Uni¥ers4ty of the West of
En8larxl. The Found*ion'stran5ac110115 and balantes with the University are shown bek)w.
Group
Fou¢thllon
2022
2021
2021
EthD
£Dou
EWO
112 MC￿lhI]
Tr•nH¢¥oni ￿thth•UnlV1r41ty
Rent recefvable
Operailng lease renrals
Grants payable
Mana8eMent str￿CeS
439
1351
17781
439
439
439
17581
17781
1331
14107
17581
14071
13871
13B71
2022
2021
2022
2021
£0
IJLAuiitstl
131A¥WAtI
ljl AU￿11
DEbtor
130
130
130
130
￿￿r￿al5
1401
85
23 Recon¢lll•iiothotlLtysVSurplwf¢rth¢y•ar to N¢¢ Op¢r•Uni C•sh Flows
2021
2021
EfMJO
£otK*
IJIAytl
Ntl it)come lor the year
Less Inierost
4,873
15SII
1541
$87
Add Depreci•tlon
IlncreasellDe(rea5e In debiors
IDe£reasel ITh crE(Mars fBlllnBduewhhln one year
Ilet Operatlni C•5h Flrrws
1,249
16,0721
15701
1411
24 Posl BDl•nce Sheet Event
In September 2022 thE F￿Jndè1Ian's subsldlaryeompany Brlstol PoW*chnlt Enterprises IDÈv?lopmen151 Llmittd tomwty
rttefved £6,097m of over•8e Income In respect of its Ob*ra8e Deed overthe It sold East ofcoldharbour Lane. Brlstol
to T4Y1￿ Wlmpeyln 2015.
23