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||Page|
|---|---|
|Governors|1|
|Reference andadministrativedetails ofthe charityandadvisers|2|
|Governors' report|3-7|
|lndependentauditor's report|8-10|
|Statement offinancial activities|11|
|Balancesheet|12|
|Statementofcashflows|13|
|Notestothefinancial statements|14-27|





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06/06/2023 



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|||Unrestrlcted<br>Funds|2022<br>RestrlctedEndoment<br>Funds<br>Funds|2022<br>RestrlctedEndoment<br>Funds<br>Funds|2022<br>RestrlctedEndoment<br>Funds<br>Funds|Tolâl Funds|lJnresldcted<br>Funds|2021<br>RestrictedEndoment<br>Funds<br>Funds|2021<br>RestrictedEndoment<br>Funds<br>Funds|Total Funds|
|---|---|---|---|---|---|---|---|---|---|---|
||Notes||||||||||
|||E||E|Ê|e|E|Ê|â|E|
|lncomeånd Expend¡ture|||||||||||
|lncomeãndendowntaFom|||||||||||
|Donations and legacies<br>Charitableact¡v¡ties<br>lnvestments||1,602,414<br>1.739,700<br>936||26,334<br>753<br>271-||1,628,752<br>1,740,453<br>1,207|1,678,31 5<br>1,473,762<br>7|45,004<br>25||1,723,319<br>1,473,762<br>32|
|Other inæme|||||||49,996|||49,996|
|||3.343.054||<br>2735A|-|3,370,412|3,202,080|45,O29||3,247,109|
|Expendlturu on:|||||||||||
|Raisingfunds<br>Chariiãble activ¡ties<br>Govemance||11,236<br>3,025,283<br>34,782||820,200|98,465|11,236<br>3,943,948<br>34,742|8,724<br>2,932,997<br>20,174|89,337|97,975|8,724<br>3,120,309<br>20,174|
|TotalResourcesExpended|<br>11|3,071,30'1||820,200|98,4653,989,966||2 S61895|89,337|97c75|3'149207|
|Net lncamingr(outgo¡ng)Resourcea||271,753||(792,842J(98,465)(619,554)|||240,185|(44,308)|(97,975)|97,902|
|Transfers belween funds||(46,79r)||113,429|<br>(66,638)||(2,076,342\|2,156,974|(80,632)||
|||224,962||(679,413)(165,103)(619,554)|||(1,836,157)2112,666||(178,607)97,902||
|Reconclllatlonoffunds|||||||||||
|Fund balances brought foMard at<br>01 Jânuâry||5,621,440||3,496,227|2,8/'6,794|11,964,461|7,457,5961,383,5623,025,40111,866,559||||
|Fund bâlanceseÍiedforuard at<br>31 December||___::^"j-____||"j1ï3____|r¡llryr|:l:!!eo7_|____3€41.43e_|__3.4.2n____?u6le4_||_l_L991,19L|






**----- Start of picture text -----**<br>
30 May<br>**----- End of picture text -----**<br>




## 

||2022|2021|
|---|---|---|
||I|s|
|Cashflows from operating activities|||
|Net (Expenditure)/ income for theyear|(61e,554)|97,902|
|Adjustments for:|||
|Depreciationoftangiblefixedassets<br>lnterest received|318,393<br>(1,207\|262,207<br>(32)|
|Ghanges inworking capital:<br>lncreaseindebtors|(184,836)|(363,34e)|
|lncreaseincreditors|773,183|88,515|
|lncreaseinstocks|(e,820)|(1,7e1)|
|Net cashgeneratedbyoperating activities|276 159|83,452|
|Cashflows from investing activities<br>Purchase of lnvestments|(271)|(24)|
|Purchase of fixed assets|(1e5,783)|(85,536)|
|lnterest received|1,207|32|
|Net used in investing activities|(1e4,847)|(85,528)|
|Changeincash and cash equivalentsinthe year|81,312|(2,076)|
|Cash and cash equivalents at beginningofyear|510,247|512,323|
||591,559|510,247|





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|lncomefrom donationsand legacies|||||
|---|---|---|---|---|
||Unrestricted|Restricted|Endowment|Total|
||Funds<br>t|Funds<br>â|Funds<br>€|2022<br>t|
|2022|||||
|Operating grantsfromparentorganisation|750,000|||750,000|
|Specialgrantsfromparentorganisation|828 741|||828741|
||1,578,741|||1,578,741|
|Donations|23,677|26,334||50,011|
||1,602,418|_26,3U||1,628,752|
||Unrestricted|Restricted|Endowment|Total|
||Funds|Funds|Funds|2021|
||t|I|t|r|
|2021|||||
|Operating grantsfromparent organisation|630,000|||630,000|
|Specialgrantsfromparentorganisation|960,894|||960,894|
||1,590,894|||1,590,894|
|Donations|87,421|5,004||92,425|
|Legacies||40,000||40,000|
||j,6?q,315_|__!t,004_|______-|__1_J233ß_|



## 

|lncomefromcharitable activities||||||
|---|---|---|---|---|---|
||Unrestricted|Restricted|Endowment|Total||
||Funds|Funds|Funds|2022||
||t|Ê|Ê||Ê|
|2022||||||
|Tuition lncome|508,680|||508,680||
|Accommodation andLodging lncome|2,159||||2,159|
|Rentallncome|'t,052,108|||I,052,1 08||
|Departmentallncome|98,487||||98,487|
|Otherlncome|78,266|753|||79,0'19|
||1,739,700|753||1,|740,453|
||Unrestricted|Restricted|Endowment|Total||
||Funds|Funds|Funds|2021||
||â|€|Ê||â|
|2021||||||
|Tuition lncome|575,358||||575,358|
|Accommodation andLodging lncome|||||0|
|Rentallncome|785,592||||785,592|
|Departmentallncome|3,534||||3,534|
|Otherlncome|109,278||||109,278|
||1,473,762||-|1,473,762||





|4|Details of Grant andFeeIncome|||||
|---|---|---|---|---|---|
|||||2022<br>f|2021<br>I|
||Fee lncome for taught awards(exclusiveofVAT)|||498,360|572,958|
||Fee lncome for from non-qualifying courses(exclusiveofVAT)|||10,320|2,400|
||Total Grant and fees|||508,680|5?5J58|
|5|lncomefrom Investments|||||
|||Unrestricted|Restricted|Endowment|Total|
||2022|Funds|Funds|Funds|2022|
|||€|Ê|€|Ê|
||Bank lnterest|936|271||1,207|
|||Unrestricted|Restricted|Endowment|Total|
||2021|Funds<br>f|Funds<br>f|Funds<br>â|2021<br>€|
||Bank lnterest|7|25||32|
|6|Governmentgrants|||||
|||Unrestricted|Restricted|Endowment|Total|
||2022|Funds<br>f|Funds<br>Ê|Funds<br>Ê|2022<br>I|
||Coronavirus Job Retention Scheme|||||
|||Unrestricted|Restricted|Endowment|Total|
||2021|Funds<br>I|Funds<br>Ê|Funds<br>Ê|202',1<br>r|
||Coronavirus Job Retention Scheme|49,996|||49,996|





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|7|Expenditure|on raisingfunds|Unrestricted<br>Funds<br>€|Restricted<br>Funds<br>€|Endowmênt<br>Funds<br>Ê|Total<br>2022<br>f|Unrestricted<br>Funds<br>Ê|Unrestricted<br>Funds<br>Ê|Restrlcted<br>Funds<br>€€|Endowment<br> <br>Funds|Total<br>2021<br>€|
|---|---|---|---|---|---|---|---|---|---|---|---|
||Advertis¡ng||9,926|||9,926||8,724|||8,724|
||Recruitment||1,3'r0|||I ,310||||||
||||11,236|||11,236||<br>8'724|||8,724|



|8|Expenditure on charilableactivities<br>Academic<br>Services<br>€|Property<br>Maintenânce<br>e|Support<br>Cost<br>t|Total<br>2022<br>e|Acedemic<br>servlces<br>e|Property<br>Maintenance<br>t|Support<br>Cost<br>e|Total<br>2021<br>e|
|---|---|---|---|---|---|---|---|---|
||Salaries<br>Social Security<br>Retirement cost<br>Redundency cost<br>Otherpersonelexpense<br>Direct costs<br>,312,706<br>145,828<br>'164,096<br>64,453<br>(37,664)|||1,312,706<br>145,828<br>164,096<br>64,453<br>(37,664)|1,318,753<br>'133,113<br>218,384<br>'127,720<br>42,444<br>162,111|||I,318,753<br>133,1 13<br>218,384<br>127,720<br>42,444<br>162,1'l'l|
||Administration<br>Exchange loss<br>Buildings<br>office<br>Departmental<br>Schorlaship expenses<br>Depreciation<br>39,554|320,013<br>1,447,593|'168,436<br>139<br>273,276<br>45,518|168,436<br>139<br>1,447,593<br>273,276<br>39,554<br>45,518<br>320,013|22,559|400p42<br>318,986|426<br>26,339<br>202,884_<br>45,648|126,339<br>426<br>400,942<br>202,884<br>22,559<br>45,648<br>318,986|
||1.688.973 1.767.606487,369|||3,943,948|2,O25,084|719.928|375,297|3,120,309|
||||Total|Total|||||
||Analysisbyfund:||2022<br>e|2021<br>t|||||
||Unrestricted funds<br>Restr¡cted funds<br>Endowmentfunds||3,025,283<br>820,200<br>98,465|2,932,997<br> <br>89,337<br>97,975|||||
||||__9Éi9,e1!- ----1J?9¡99-||||||
|9|Otherèxpenditure<br>UnrestÌlcted<br>Funds<br>t|Restrlcted<br>Funds<br>Ê|Endowment<br>Funds<br>Ê|Total<br>2022<br>e|Unrestricted<br>Funds<br>Ê|Restricted<br>Funds<br>€e|Endowment<br> <br>Funds|Total<br>2021<br>c|
||Govemance costs(seenote10)34,782|||34,782|20,174|||20,174|





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|Analysisofgovernanceandsupport costs|||||
|---|---|---|---|---|
||General|Governance|Total|Total|
||Support||2022<br>I|2021<br>€|
|BoardExpenditure||'o,ræ|4,782|174|
|Audit|-|30,000|30,000|20,000|
|Exchangeloss|139||139|426|
|BaddebtsExpenses<br>Professionalfees|8,879<br>131,328||8,879<br>131,328|21,683<br>92,528|
|lnterestExpense<br>Other AdministrativeExpenses|4,897<br>20,737||4,897<br>20,737|3,271<br>8,856|
|Office Supplies &lTexpense<br>Telephone andPostage<br>EquipmentMaintenance|25,223<br>12,028<br>236,025||25,223<br>12,028<br>236,025|42,934<br>14,322<br>145,627|
|ScholarshipExpenses|45,518||45,518|45,648|
||484,774|34,782|519,556|395,469|



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|TotalResources Expended||||||
|---|---|---|---|---|---|
|Summary byexpenditure type|Staff|Other||Total|Total|
||Costs<br>Ê|Costs<br>I|Depreciation<br>Ê|2022<br>I|2021<br>€|
|Charitable activities|1,622,630|2,002,925|318,393|s,943,948|3,120,309|
|Costs ofgeneratingvoluntary||||||
|income||11,236||11,236|8,724|
|Governance costs||34,782||34,782|20,174|
||1,622,6302,047,323||320,013|3,989,966|3,149,207|
|Summarybyfund type|Unrestricted|Restricted|Endowment|Total||
||Funds|Funds|Funds|2022||
|2022|e|e|f|t||
|Charitable activities|3,025,283|820,200|98,465|3,943,948||
|Costs ofgeneratingvoluntary||||||
|income|11,236|||11,236||
|Governance costs|34,782|||34,782||
||3,071,301820,200||98,465|s,989,966||





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|Total Resources Expended (continued)<br>lncludedwithin total expenditure:|||
|---|---|---|
||2022|202',1|
||I|Ê|
|Auditors' remuneration|30,000|20,000|
|Depreciationoftangible fixed assets|318,393|318,986|
|Analysis of costs|||
|Staff costs consistof:|2022|2021|
||€|Ê|
|Salaries|1,3'12,706|1,3'18,753|
|Social security costs|',l45,828|133,113|
|Pension costs|164,096|218,384|
|Redundancy costs||127,720|
||1,622,630|1,797p70|
|Headof Provider1|2022|2021|
|Headofprovider(Apr-Dec 2O22)currenl|||
|Remuneration|40,730||
|Pension|9,808||
|Other|'l,517||
||52,055||
|Headof Provider2|||
|Headofprovider(Jan-May 2022)|||
|Remuneration|27,366|52,541|
|Retirement Allowance|12,613||
|Pension|2,565|7,095|
||42,544|59,636|



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|Short-term ¡nvestments:|||
|---|---|---|
||2022|2021|
||Ê|Ê|
|Marketvalueasat1January|243,945|243,921|
|lnterest re-invested|271|24|
|Marketvalueat31 December|244,2',16|243,945|
|lnvestments consist of the following:|Ê|Ê|
|Banktermdepos¡tsin excessofthree months|244,216|243,945|





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|TangibleFixedAssets||||||
|---|---|---|---|---|---|
||Functional||Other|||
||Landand|Land and||Fixturesand||
||Buildings<br>c|Buildings<br>I||Equipment<br>€|Total<br>€|
|Cost||||||
|At31December2021|4,447,819||2,672,943|2,281,280|9,402,O42|
|Additions|46,367|||149,416|195,783|
|At31December2O22|4,494,186 @||||-@|
|Depreciation||||-41-0F06||
|At31December2O2l|1,843,704||795,918|1,051,856|3,691,478|
|Chargefortheperiod|98,465||79,830|140,098|318,393|
|At31December2022|1,942,169||<br>875748|1,191,9544,009,871||
|NetBook Value<br>At31December2O22|2,552,017||1,797,195|1,238,7425,587,954||
|At31December2021|2,604j15||1,877,025|1,229,4245,710.564||



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|15|Debtors|||
|---|---|---|---|
|||2022|2021|
|||Ê|â|
||Amountsduewithinoneyear:|||
||Trade debtors|64,322|66,179|
||Amounts due fromparentcharity|6,123,684|5,955,281|
||Amounts due from other related charities|65,813|69,401|
||Amounts due from employees|2,120|3,865|
||Prepaidexpenses|116,262|104,802|
||Otherdebtors|35,989|23,826|
|||6,408,190|6,223,354|
|l6|Greditors|||
|||2022|2021|
|||€|€|
||Amountsfallingduewithinoneyear:|||
||Trade creditors|48,649|50,498|
||Paymentsinadvancebystudents|178,820|141,065|
||Amounts due toparentcharity|87,994||
||Amounts due to other related entities|7,755|76,860|
||Amounts duetoemployees||5,725|
||Othertaxes and social security costs|44,214|1,798|
||Accrued expenses and deferred income|73,839|319,299|
||Other amountspayable|132,766|67,509|
||Agencyandtrust funds|63.081|73,681|
|||637,118|736,435|





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|rovisionsforliabiliti|es||||
|---|---|---|---|---|
||||2022|2021|
|Moore Close section|106|agreement|700,000||
|Rates|||172,500||
||||872,500||



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||<br>length of time the tenant has be|en inplace, howe|vernofinal figure has been agreedatthisstag|vernofinal figure has been agreedatthisstag|vernofinal figure has been agreedatthisstag|vernofinal figure has been agreedatthisstag|e.|
|---|---|---|---|---|---|---|---|
|18|Fundsanalysis|Balance at<br>1January<br>2022<br>Ê|MovementinResources<br>Incoming OutgoingTransfers<br>ÊÊÊ||||Balanceat<br>3lDecember<br>2022<br>â|
||Endowmentfunds|||||||
||Scholarship endowment funds|242,679|||(113,005)||129,674|
||Property endowment funds|2,604,115||(e8,465)||46,367|2,552,017|
||Total endowment funds|w||(e8,465)||(66,638)|2,681,691|
||Restrictedfunds|||||||
||Scholarship|843,072|22,200|(42,602)||149,673|972,343|
||Facilities|149,277||(29,436)||287,855|407,696|
||Health programmes|36,337||||(36,337)||
||Other Restricted Funds|2,467,541|5,158|(748,162)|(287,762)||1,436,775|
||Total restricted funds<br>Unrestricted funds|w|27,358 -|(8-20-2õÐ|<br>-@||2,816,814|
||Designated funds|||||||
||Property funds:|||||||
||Land & buildings|1,877,025||(79,830)|||1,797,195|
||Plant&Equipment|1,229,424||(140,098)||149,416|1,238,742|
||Other designated funds|124,883|(13e)|||139|124,883|
|||3,231,332||||149,5553,160,820||
||General funds<br>General funds|2,390,108|3,343,193(2,851,373)|||(196,346)2,685,582||
|||2,390,108|3,343,193|esil,373)||(1e6,346)2,685,582||
||Total unrestricted funds<br>Totalfunds|5,621,440<br>11,964,461|3,343,054 -]mrcõ1T--lÆfrg.T@<br>3,370,412(3,989,966)|||||





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|Analysis ofnetassets between|funds||||
|---|---|---|---|---|
||Unrest¡icted|Restricted|Endowment|Total|
||funds|funds|funds|funds|
||2022<br>f|2022<br>€|2022<br>t|2022<br>€|
|Tangible fixed assets|3,035,937||2,552,017|5,587,954|
|Current assets|4,320,083|2,816,814_|129,674|7,266,571|
|Creditors due within one year|(637,1r8)|||(637,118)|
|Provisions for liabilities|(872,500)|||(872,500)|
||@|-ñT|2,681,691|11,344,907|
||Unrestricted|Restricted|Endowment|Total|
||funds|funds|funds|funds|
||202'l<br>€|2021<br>Ê|2021<br>f|2021<br>I|
|Tangible fixed assets|3,I 06,449||2,604,115|5,710,564|
|Current assets|3,251,426|3,496,227|242,679|6,990,332|
|Creditors due within one year|(736,435)|||(736,435)|
||@|3,496,227|2,846,794|1|



## 

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|connected entities as describe in N|otes22and23.||||
|---|---|---|---|---|
||General|BritishUnion|Total|Total|
||Conference|ce|2022|2021|
||Ê|Ê|Ê|Ê|
|Operating grants received|750,000||750,000|630,000|
|Special grants received|828,741||828,741|960,894|
|Amounts duebycharity<1year|||||
|Amounts due to charity<1year|6,123,684|65.813|6,158,642|6,011 732|





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