This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.
2023-08-31-accounts
| Trustees |
WJMarshall(Chair) |
|
CABooy |
|
GECamm |
|
JSLaycock |
|
SAMoore |
|
KJMorgan |
|
SGWest |
|
MJHagen |
|
RJSHolmes |
|
SBMills |
|
POlomolaiye(appointed16October2023) |
| CompanyRegisteredNumber |
02991142 |
| CharityRegisteredNumber |
1050468 |
| RegisteredOffice |
FinanceDepartment |
|
UniversityoftheWestofEngland |
|
FrenchayCampus |
|
Bristol |
|
B5161QY |
| CompanySecretary |
RHBroughton |
| Auditor |
MazarsLLP |
|
CharteredAccountants |
|
90VictoriaStreet |
|
Bristol |
|
BSI6DP |
| Bankers |
NatWestplc |
|
72GloucesterRoad |
|
Bishopston |
|
Bristol |
|
BS78BF |
|
Handelsbankenplc |
|
2540TheQuadrant |
|
AztecWest |
|
Bristol |
|
BS324AQ |
|
|
31August |
31August |
31August |
31August |
|
Note |
2023 |
2023 |
2023 |
2022 |
|
|
£000 |
£000 |
f000 |
£000 |
|
|
[12months] |
[12months] |
[12months] |
[12months] |
| Income |
|
Restricted |
Unrestricted |
Total |
Total |
| Incomefromcharitableactivities |
|
|
|
|
|
| Rentreceivable |
8 |
|
439 |
439 |
439 |
| InVestmentincome |
9 |
4 |
831 |
835 |
373 |
| OtherIncome |
|
|
|
|
6,202 |
|
|
4 |
1,270 |
1,274 |
7,014 |
| Expenditure |
|
|
|
|
|
| Costofraisingfunds |
|
|
|
|
|
| Investmentproperties |
|
|
15 |
15 |
20 |
| Trading |
|
|
30 |
30 |
8 |
| Expenditureoncharitableactivities |
|
|
|
|
|
| Charitableactivitiesundertakendirectly |
10 |
|
696 |
696 |
1,327 |
| Grantfundingofcharitableactivities |
10 |
12 |
338 |
350 |
786 |
|
|
12 |
1,079 |
1,091 |
2,141 |
| NetIncomefortheYear |
|
(8) |
191 |
183 |
4,873 |
| Revaluationofinvestmentproperties |
|
|
(19) |
(19) |
153 |
| NetMovementofFunds |
|
(8) |
172 |
164 |
5,026 |
| Fundsbroughtforwardat01September2022 |
18 |
135 |
40,767 |
40,902 |
35,876 |
| FundsCarriedForwardat31August2023 |
18 |
127 |
40,939 |
41,066 |
40,902 |
|
|
Group |
|
Foundation |
Foundation |
|
Note |
2023 |
2022 |
2023 |
2022 |
|
|
£000 |
£000 |
£000 |
£000 |
|
|
[31August] |
[31August] |
[31August] |
[31August] |
| FixedAssets |
|
|
|
|
|
| Investmentproperty |
12 |
3,754 |
3,773 |
3,640 |
3,650 |
| SocialinvestmentProperty |
13 |
17,220 |
17,836 |
17,220 |
17,836 |
| Totalfixedassets |
|
20,974 |
21,609 |
20,860 |
21,486 |
| CurrentAssets |
|
|
|
|
|
| Debtors |
15 |
438 |
6,395 |
438 |
297 |
| Shorttermdeposits |
|
18,991 |
12,426 |
18,252 |
11,604 |
| Cashatbank |
|
939 |
784 |
836 |
654 |
| Totalcurrentassets |
|
20,368 |
19,605 |
19,526 |
12,555 |
| CurrentLiabilities |
|
|
|
|
|
Creditors:
Amountsfalling |
|
|
|
|
|
| duewithinoneyear |
16 |
(276) |
(312) |
(275) |
(312) |
| NetCurrentAssets |
|
20,092 |
19,293 |
19,251 |
12,243 |
| TotalAssetsless |
|
|
|
|
|
| CurrentLiabilities |
|
41,066 |
40,902 |
40,111 |
33,729 |
| NetAssets |
|
41,066 |
40,902 |
40,111 |
33,729 |
| FundsoftheFoundation |
|
|
|
|
|
| Restrictedfunds |
18 |
127 |
135 |
127 |
135 |
| Unrestrictedfunds |
18 |
40,939 |
40,767 |
39,984 |
33,594 |
| TotalFunds |
|
41,066 |
40,902 |
40,111 |
33,729 |
|
|
|
|
|
| ConsolidatedCashFlowStatement |
|
|
forthe12months |
ended31August2023 |
|
|
|
31August |
31August |
|
Note |
|
2023 |
2022 |
|
|
|
£000 |
£000 |
|
|
|
[12months] |
[12months] |
| Netcashinflow/(outflow)fromoperatingactivities |
23 |
|
6,208 |
(41) |
| Investingactivities |
|
|
|
|
| Returnsoninvestmentsandservicingoffinance |
|
|
|
|
| Interestreceived |
9 |
512 |
|
77 |
| Netcashinflowfrominvestingactivities |
|
|
512 |
77 |
| Increaseincashandcashequivalents |
|
|
6,720 |
36 |
| Cashorcashequivalentsbroughtforward |
|
|
13,210 |
13,174 |
| Cashorcashequivalentscarriedforward |
|
|
19,930 |
13,210 |
| Summaryprofitandlossaccount |
2023 |
2022 |
|
£000 |
£000 |
|
[12months] |
[12months] |
| Income |
1,256 |
810 |
|
1,256 |
810 |
| Expenditureoncharitableactivities |
(1,061) |
(2,134) |
| NetExpenditure |
195 |
(1,324) |
| Revaluationofinvestmentproperty |
(10) |
120 |
| Netmovementoffunds |
185 |
(1,204) |
| Totalfundsbroughtforward |
33,729 |
34,855 |
| Giftaidfromsubsidiary |
6,197 |
78 |
| Totalfundscarriedforward |
40,111 |
33,729 |
| Summaryprofitandlossaccount |
2023 |
2022 |
|
£000 |
£000 |
|
(12months] |
(12months] |
| Interestreceivable |
18 |
3 |
| Otherincome |
|
6,202 |
| Netincome |
18 |
6,205 |
| Otherexpenditure |
(30) |
(8) |
| Revaluationofinvestmentproperty |
(9) |
33 |
| (Loss)/Profitfortheperiod |
(21) |
6,230 |
| Summarybalancesheet |
2023 |
2022 |
|
£000 |
£000 |
|
[31August] |
[31August] |
| CurrentAssets |
956 |
7,173 |
| CurrentLiabilities |
(1) |
|
| Totalnetassets |
955 |
7,173 |
| Aggregatesharecapitalandreserves |
955 |
7,173 |
| 8 |
IncomingResourcesfromCharitableActivities |
2023 |
|
2022 |
|
|
£000 |
|
£000 |
|
|
[12months] |
. |
[12months] |
|
RentreceivablefromlandandbuildingslettoUniversityoftheWestofEngland |
439 |
|
439 |
| 9 |
InvestmentIncome |
2023 |
|
2022 |
|
|
£000 |
|
£000 |
|
|
[12months] |
|
[12months] |
|
Bankinterestreceivableondeposits |
512 |
|
77 |
|
Rentreceivablefromlandandbuildings |
323 |
|
296 |
|
|
835 |
|
373 |
|
|
|
| otestotheFinancialStatements(continued) |
YearEnded31August2023 |
|
| 10AnalysisofExpenditureonCharitableActivities |
2023 |
2022 |
|
£000 |
£000 |
|
[12months] |
[12months] |
| CharitableActivitiesUndertakenDirectly |
|
|
| CostsrelatingtolandandbuildingsleasedtotheUniversityoftheWestofEngland |
|
|
| Operatingleaserentals |
35 |
35 |
| Depreciation |
616 |
1,249 |
|
651 |
1,284 |
| Supportandgovernancecosts |
45 |
43 |
|
696 |
1,327 |
| GrantFundingofCharitableActivities |
|
|
| GrantstotheUniversityoftheWestofEnglandtofurtheritssupportof |
|
|
| Memorialbursary&othersupport |
22 |
16 |
| Wallscourtscholarships |
15 |
14 |
| WallscourtProfessor&Fellowships |
311 |
754 |
|
348 |
784 |
| Supportandgovernancecosts |
2 |
2 |
|
350 |
786 |
|
financialactivitiesonpage11.Thecostshavebeenapportionedbetwe
activitiesonthebasisofanestimateofthetimeandresourcesspent. |
enthecharitableandthegrantfunding |
|
|
|
2023 |
2022 |
| 11 |
AnalysisofSupportandGovernanceCosts |
£000 |
£000 |
|
Managementcharge(seenote7) |
33 |
33 |
|
Governancecosts |
6 |
5 |
|
Auditfees |
8 |
7 |
|
|
47 |
45 |
|
Apportioned |
|
|
|
Charitableactivitiesundertakendirectly |
45 |
43 |
|
Grantfundingoncharitableactivities |
2 |
2 |
|
|
47 |
45 |
| 12 |
InvestmentProperty |
Group |
|
Foundation |
|
|
|
2023 |
2022 |
2023 |
2022 |
|
|
£000 |
£000 |
£000 |
£000 |
|
|
[31August] |
[31August) |
[31August] |
[31August] |
|
HistoricalCost |
|
|
|
|
|
Asat31August |
4,860 |
4,860 |
4,770 |
4,770 |
|
|
4,860 |
4,860 |
4,770 |
4,770 |
|
Valuation |
|
|
|
|
|
Balanceat01September |
3,773 |
3,620 |
3,650 |
3,530 |
|
Revaluationofproperty |
(19) |
153 |
(10) |
120 |
|
Balanceat31August |
3,754 |
3,773 |
3,640 |
3,650 |
| 13 |
SocialInvestmentProperty |
Group |
|
Foundation |
|
|
|
2023 |
2022 |
2023 |
2022 |
|
|
£000 |
£000 |
£000 |
£000 |
|
|
[31August] |
[31August] |
[31August] |
[31August) |
|
Cost |
|
|
|
|
|
Asat01Septemberand31August |
20,919 |
20,919 |
20,919 |
20,919 |
|
Depreciation |
|
|
|
|
|
Asat01September |
3,083 |
1,834 |
3,083 |
1,834 |
|
Chargefortheperiod |
616 |
1,249 |
616 |
1,249 |
|
Asat31August |
3,699 |
3,083 |
3,699 |
3,083 |
|
NetBookValue |
|
|
|
|
|
Asat31August |
17,220 |
17,836 |
17,220 |
17,836 |
| 15 |
Debtors |
Group |
|
Foundation |
|
|
|
2023 |
2022 |
2023 |
2022 |
|
|
£000 |
f000 |
£000 |
£000 |
|
|
[31August] |
[31August] |
[31August] |
[31August] |
|
Prepaymentsandaccruedincome |
215 |
75 |
215 |
74 |
|
Debtors |
223 |
6,320 |
223 |
223 |
|
|
438 |
6,395 |
438 |
297 |
|
Therearenolongtermdebtors |
|
|
|
|
|
|
Group |
|
|
|
Foundation |
|
|
|
|
2023 |
|
2022 |
|
2023 |
|
2022 |
|
|
£000 |
|
£000 |
|
£000 |
|
£000 |
|
[31 |
August] |
[31 |
August] |
[31 |
August] |
[31 |
August] |
| Accruals |
|
9 |
|
47 |
|
8 |
|
47 |
| Deferredincome |
|
237 |
|
237 |
|
237 |
|
237 |
| VAT |
|
29 |
|
28 |
|
29 |
|
28 |
|
|
276 |
|
312 |
|
275 |
|
312 |
|
Group |
Foundation |
|
£000 |
£000 |
| Balanceat01September2022 |
237 |
237 |
| Amountreleasedintheyear |
(237) |
(237) |
| Amountdeferredintheyear |
237 |
237 |
| Balanceasat31August2023 |
237 |
237 |
| 18 |
Reserves |
Balance |
|
|
|
|
|
Balance |
|
|
01-Sep-21 |
Income |
|
Expenditure |
Revaluation |
Transfers |
31-Aug-22 |
|
Unrestrictedfunds |
£000 |
£000 |
|
£000 |
£000 |
£000 |
£000 |
|
Generalfunds(foundation) |
9,631 |
808 |
|
(2,127) |
- |
3,199 |
11,511 |
|
Subsidiaryfunds |
1,021 |
6,205 |
|
(8) |
|
(45) |
7,173 |
|
Designatedfunds |
|
|
|
|
|
|
|
|
Grantreserve |
2,379 |
|
|
|
|
(1,905) |
474 |
|
SocialInvestmentPropertyreserve |
19,085 |
|
|
|
- |
(1,249) |
17,836 |
|
InvestmentPropertyreserve |
3,620 |
|
|
|
153 |
|
3,773 |
|
Totalunrestrictedfunds |
35,736 |
7,013 |
. |
(2,135) |
153 |
|
40,767 |
|
Restrictedfunds |
|
|
|
|
|
|
|
|
JohnHullahTrustfund |
140 |
1 |
|
(6) |
|
|
135 |
|
Totalrestrictedfunds |
140 |
1 |
|
(6) |
|
|
135 |
|
Totalfunds |
35,876 |
7,014 |
|
(2,141) |
153 |
|
40,902 |
|
|
Balance |
|
|
|
|
|
Balance |
|
|
01-Sep-22 |
Income |
|
Expenditure |
Revaluation |
Transfers |
31-Aug-23 |
|
Unrestrictedfunds |
£000 |
£000 |
|
f000 |
£000 |
£000 |
£000 |
|
Generalfunds(foundation) |
11,511 |
1,252 |
|
(1,049) |
|
5,149 |
16,863 |
|
Subsidiaryfunds |
7,173 |
18 |
|
(30) |
|
(6,206) |
955 |
|
Designatedfunds |
|
|
|
|
|
|
|
|
Grantreserve |
474 |
|
|
|
|
1,673 |
2,147 |
|
SocialInvestmentPropertyreserve |
17,836 |
|
|
|
|
(616) |
17,220 |
|
InvestmentPropertyreserve |
3,773 |
|
|
|
(19) |
|
3,754 |
|
Totalunrestrictedfunds |
40,767 |
1,270 |
|
(1,079) |
(19) |
|
40,939 |
|
Restrictedfunds |
|
|
|
|
|
|
|
|
JohnHullahTrustfund |
135 |
4 |
|
(12) |
|
|
127 |
|
Totalrestrictedfunds |
135 |
4 |
|
(12) |
|
|
127 |
|
Totalfunds |
40,902 |
1,274 |
|
(1,091) |
(19) |
|
41,066 |
|
|
Undesignated |
|
|
|
|
|
|
Reserve |
Property |
Grant |
Restricted |
Total |
|
31.08.2022 |
£'000 |
£'000 |
£'000 |
£'000 |
£'000 |
|
SocialInvestmentproperty |
|
17,836 |
|
|
17,836 |
|
InvestmentProperty |
|
3,773 |
|
|
3,773 |
|
Cashatbank |
12,601 |
|
474 |
135 |
13,210 |
|
OtherNetCurrentAssets |
6,083 |
|
|
|
6,083 |
|
Total |
18,684 |
21,609 |
474 |
135 |
40,902 |
|
|
Undesignated |
|
|
|
|
|
|
Reserve |
Property |
Grant |
Restricted |
Total |
|
31.08.2023 |
£'000 |
£'000 |
£'000 |
£'000 |
£'000 |
|
SocialInvestmentproperty |
|
17,220 |
|
|
17,220 |
|
InvestmentProperty |
|
3,754 |
|
|
3,754 |
|
Cashatbank |
17,656 |
|
2,147 |
127 |
19,930 |
|
OtherNetCurrentAssets |
162 |
|
|
|
162 |
|
Total |
17,818 |
20,974 |
2,147 |
127 |
41,066 |
| 20 |
FinancialInstruments |
|
|
|
|
|
|
|
|
|
|
2023 |
2022 |
|
|
|
|
|
£000 |
£000 |
|
Financialassetsmeasuredatamortisedcost |
|
|
|
20,368 |
19,605 |
|
Financialliabilitiesmeasuredatamortisedcost |
|
|
|
(276) |
(312) |
| 21 |
OtherFinancialCommitments |
|
|
|
2023 |
2022 |
|
|
|
|
|
£000 |
£000 |
|
Operatingleases |
|
|
|
|
|
|
Due:Withinoneyear |
|
|
|
39 |
39 |
|
Betweenoneandfive |
years |
|
|
59 |
83 |
|
Afterfiveyears |
|
|
|
1,673 |
1,687 |
|
|
|
|
|
1,771 |
1,809 |
|
|
Group |
|
Foundation |
Foundation |
|
|
2023 |
2022 |
2023 |
2022 |
|
|
£000 |
£000 |
£000 |
£000 |
|
|
[12months] |
[12months] |
[12months] |
[12months] |
|
TransactionswiththeUniversity |
|
|
|
|
|
Rentreceivable |
439 |
439 |
439 |
439 |
|
Operatingleaserentals |
(35) |
(35) |
(35) |
(35) |
|
Grantspayable |
(336) |
(778) |
(336) |
(778) |
|
Managementservices |
(33) |
(33) |
(33) |
(33) |
|
|
36 |
(407) |
36 |
(407) |
|
|
2023 |
2022 |
2023 |
2022 |
|
|
£000 |
£000 |
£000 |
£000 |
|
|
[31August] |
[31August) |
[31August] |
[31August] |
|
Balancesat31August |
|
|
|
|
|
Debtor |
130 |
130 |
130 |
130 |
|
Accruals |
|
(40) |
|
(40) |
|
|
130 |
90 |
130 |
90 |
| 23 |
ReconciliationofSurplus/(Loss)fortheyeartoNet |
OperatingCashFlows |
|
2023 |
2022 |
|
|
|
|
£000 |
£000 |
|
|
|
|
[31August] |
[31August) |
|
Netincomefortheyear |
|
|
183 |
4,873 |
|
Lessinterestreceived |
|
|
(512) |
(77) |
|
AddDepreciation |
|
|
616 |
1,249 |
|
Decrease/(increase)indebtors |
|
|
5,957 |
(6,072) |
|
(Decrease)increditorsfallingduewithinoneyear |
|
|
(36) |
(14) |
|
NetOperatingCashFlows |
|
|
6,208 |
(41) |