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2021-03-31-accounts

TRUSTEES' REPORT INCORPORATING TRUSTEES' REPORT INCORPORATING THE STRATEGIC REPORT
INDEPENDENT AUDITOR'S REPORT .13
FINANCIAL STATEMENTS .15
NOTES TO THE ACCOUNTS .18
REFERENCE AND ADMINISTRATIVE DETAILS ....33
The Board of The Board of Trustees Trustees is responsible
for ensuring
there are effective and adequate
risk management
and internal		 is responsible
for ensuring
there are effective and adequate
risk management
and internal		 is responsible
for ensuring
there are effective and adequate
risk management
and internal		 is responsible
for ensuring
there are effective and adequate
risk management
and internal		 is responsible
for ensuring
there are effective and adequate
risk management
and internal		 is responsible
for ensuring
there are effective and adequate
risk management
and internal
control systems in place, and confirm that the major risks to which the Institute
is exposed have been reviewed
and procedures established
to manage those risks. The Audit		 and Risk Committee
agrees an annual
risk-based
internal audit plan which covers major risks identified
by management		 and Trustees.
It receives reports from
internal auditors on the effectiveness
of internal
controls, progress		 against the internal
audit plan and progress		 on
recommendations made
in reports.
The Board reviews a full risk		 report annually,
including
a 'heat map' tracking
major risks.
The principal risks and uncertainties
facing the Institute are considered		 to be:
&BBSRCstrategic funding
for institutes
is		 &Regular monitoring
ofscientific
reduced due to budgetary
pressures.		 performance
against strategic
&BBSRCstrategic funding
is reduced due		 to programme
objectives.
scientific performance. &Regular communication
with BBSRCto
report performance
and ensure strategic
alignment
ofresearch programmes.
& QIB is unable to generate
sufficient grant		 and & Investment
in new research
leader
commercial
research
income to support		 the positions
in progress.
costs of its research activities and & Communication
Strategy being
infrastructure developed
to increase sponsor
awareness
ofthe Quadram
Institute.
& QIB is unable to retain or attract suitably &Strategy and action plans
in place,
skilled staff to enable
itto deliver its science		 aligned to development
of Quadram
strategy. Institute.
& In addition to scientific impact, this risk area &Career development
programmes
in
could also have an impact on the level of place to support
high potential
staff.
funding
the Institute
is able to attract.		 &Performance
Management
processes		 in
place.
&Strategy for the Quadram
Institute
is not		 &Governance
arrangements
in place.
agreed between
the partners.		 &Strategy agreed and communicated.
&The Quadram
Institute
is not able to attract		 & Recruitment
plans
in progress.
suitably
skilled staff to enable
it to deliver		 its &Project plan
in place, with identified
work
strategy. streams, terms ofreference and
& Benefits from the project are not delivered. appropriate
partner representation.
&Project assurance
framework
in place.
& Ql facilities management
arrangements		 are & Building Services Committee
established
poor value for money. to monitor facilities management
& Inadequate
investment
leads to facilities		 that arrangements
and tenant coordination.
are not fit for purpose. & Building operating costs regularly
& Ql building
is not used by partners
in line with		 reviewed
and remedial
actions agreed.
Ql mission. & Lifecycle maintenance
plan agreed by
the partners.
& QIB is unable to keep pace with &Technology
strategy has been updated
developments
in technology
underpinning		 its alongside
strategy for the Quadram
science. Institute.
& Funding
is inadequate
to sustain
and improve		 & Capital funding
awarded
for the period		 to
technology
facilities necessary
to deliver		 March 2023as part of institute
strategic
scientific objectives. grant award.
& QIBfails to comply with sponsor grant &QIB is subject to regular reviews of its
requirements
resulting
in a material
financial		 grant compliance
processes from
impact. sponsors
and the internal
auditors.
& QIB is not able to access EU programme & Regular dialogue
with staff, BBSRC, EU
funding
or participate
in EU research		 partners
and other key stakeholders
on
collaborations. risks and emerging
issues with respect
& QIB is not able to recruit or retain to potential
changes
in arrangements.
researchers
from EU member countries.
& Loss of research
activity due to staff		 & Building has been reopened
subject to
becoming
ill, or not being able to attend		 work strict H&S/risk management
protocols.
due to the COVID-19. &Business Continuity
Group established
& Loss of income or additional
costs incurred		 to implement
policies and oversee
as a result ofthe impact ofCovid-19 on arrangements.
activity. & UKRI funding
received to mitigate
impact
& Failure ofsu
I
chain.		 on
rants and studentshi
s.
The Board ofTrustees comprises
an independent
Chair,		 comprises
an independent
Chair,		 comprises
an independent
Chair,		 up to seven independent independent members and up to nine UEA-
appointed
members.		 The Trustees who served during
the year and		 up to the date of signing these financial
statements
were:
Trustees Sub-committees Changes during the period
At date ofReport:
Dr C Caulcott (Chair) Remuneration & Nomination Committee
Dr E Blair Audit 8 Risk Committee;
Remuneration		 8 Appointed 14 May 2020
Nomination
Committee
Prof F Lettice Science Innovation
8 Advisory		 Committee (Chair)
Prof P Morgan Remuneration & Nomination Committee (Chair)
Mr G Potter Audit & Risk Committee Appointed 14 May 2020
Dr E Robertson Science Innovation
8 Advisory		 Committee Appointed 14 May 2020
Mrs J Waterfield Audit & Risk Committee
(Chair)
Served during
the year:
Dr T Brears (Chair) Remuneration & Nomination Committee Resigned 14 May 2020
Prof SWalker Audit & Risk Committee;
Remuneration		 & Resigned 17June 2020
Nomination
Committee
Restricted Restricted
Unrestricted general capital Total Total
funds funds funds 2021 2020
Note FOOO f000 FOOO OOOO f000
Incoming resources
Income from Charitable activities
Grant income 14,820 14,820 12,143
Capital and maintenance grants 3,243 2,826 6,069 1,302
Other charitable
income		 775 230 1,005 503
Income from other trading activities
Trading
income		 642 798
Investment income 195 195 312
Total income 2 1,612 18,293 2,826 22 731 15,058
Expenditure
Charitable
activities		 (662) (17,557) (981) (19,200) (15,547)
Raising funds (184) — — (184) (172)
Trading
expenditure		 (614) (614) (711)
Total ex enditure 3 1,460 17,557 981 19,998 16,430
Net incomel ex enditure 152 736 1,845 2,733 1,372
Transfers
Capital transfers 18 (603) 603
Other transfers 18 (2,178) 2,178
Net movement
in funds		 for the ear 2,629 2,914 2,448 2 733 1,372
Funds brought forward 18 31,150 4,191 35,341 36,713
Funds carried forward 18 28,521 2,914 6,639 38074 35,341
Group Group Company Company
2021 2020 2021 2020
Note f000 f000 f000 f000
Fixed assets
Tangible assets 9 19,078 18,364 19,078 18,363
Intangible
assets		 10 12 12
Total fixed assets 19078 18,376 19078 18,375
Current assets
Debtors 12 9,632 6,508 9,584 6,519
Cash at bank and in hand 13 19,457 16,595 19,183 16,385
29,089 23,103 28,767 22,904
Current
liabilities
Creditors: amounts falling due within one year 14 (10,093) (6,102) (9,796) (5,989)
Total net current assets 18996 17,001 18971 16,915
Total assets less current liabilities 38,074 35,377 38,049 35,290
Provisions for liabilities and charges 16 (36) (36)
Total net assets 17 38074 35341 38049 35254
Funds ofthe charity
Unrestricted
funds
Fixed assets reserve 18 14,972 15,746 14,972 15,739
Designated
strategic		 reserves 18 6,486 6,921 6,486 6,921
Designated
building		 reserves 18 3,050 4,375 3,050 4,375
General reserve 18 4,013 4,108 3,988 4,022
Total unrestriced
funds		 28,521 31,150 28,496 31,057
Restricted funds
Fixed assets reserve 18 4,106 2,630 4,106 2,636
Restricted
general		 18 2,914 2,914
Capital reserve 18 2,533 1,561 2,533 1,561
Total restricted
funds		 9,553 4,191 9,553 4,197
Total charit
funds		 18 38074 35341 38049 35254

Total Total
2021 2020
6000 f000
Cash flow from operating activities
Operating
surplus/(deficit)		 2,733 (1,372)
Interest receivable (195) (312)
Depreciation
and amortisation		 981 804
Capital grants received (6,069) (1,302)
Loss on disposal of tangible assets 2 4
Decrease
in stocks		 32
Increase
in debtors		 (4,099) (561)
Increase
in creditors		 3,991 1,846
Decrease
in provisions		 (36) (215)
Net cash
rovided b
/ used		 in o ratin activities 2 692 1,076
Cash flow from investing activities
Interest received 195 312
Repayment
of loan		 975 1,300
Purchase oftangible assets (1,693) (3,242)
Disposal Proceeds 8
Capital grants received 6,069 1,302
Net cash
rovided b
/ used		 in investin activities 5554 328
Chan e in cash and cash e uivalents in the re ortin cried 2 862 1 404
Cash and cash equivalents at the beginning of the reporbng period 13 16,595 17,999
Cash and cash e uivalents at theend of there ortin eriod 13 19457 16595
Research Other Total Research Other Total
activities activities 2021 activities activities 2020
OOOO f000 6000 f000 f000 6000
Grant income
BBSRC 12,402 12,402 10,017 10,017
Other government
departments		 1,011 1,011 471 471
European
Union		 488 488 403 403
Other grants 919 919 1,252 1,252
Total
rant income		 14820 14820 12143 0 12143
Capital and maintenance grants
BBSRC
Capital expenditure 6,069 6,069 1,302 1,302
Total ca ital
rants		 6069 6069 1 302 1 302
Other charitable
income
Miscellaneous
income		 1,005 1,005 503 503
Total other charitable income 1,005 1 005 503 503
Trading
income
QIB Extra 642 642 798 798
Total tradin
income		 642 642 798 798
Investment
income
Interest receivable
on cash		 deposits 86 86 165 165
Other interest receivable 109 109 147 147
Total investment
income		 195 195 312 312
Total incomin
resources		 20,889 1,842 22 731 13,445 1,613 15058
Research Research Student Other Total
Research		 Total
Research		 Student Olher Total
activities activities activities 2021 activities activities activities 2020
Note EOOO EOOO OOOO FOOO EOOO f000 FOOO OOOO
Direct charitable expenditure
Staff costs 7,146 7,146 6,592 6,592
Direct costs 5,130 546 5,676 2,651 490 3,141
Depreciation 981 981 804 804
Buildings
maintenace		 348 348 190 190
Governance
costs		 36 36 44 44
Support costs 4,759 254 5,013 4,534 242 4,776
Expenditure
on		 charitable activities 18,364 800 36 19,200 14,771 732 44 15,547
Raising funds 184 184 172 172
Trading
expenditure		 614 614 711 711
Total ex enditure 18364 800 834 19998 14,771 732 927 16430
Included
within		 expenditure on charitable activities is restricted general expenditure
ofF17,557k (2020:F12,482k), and
restricted
capital		 expenditure (depreciation) ofF981k (2020:F804k). All other expenditure is unrestricted.
Operating
surplus/(deficit)
is s		 tated afte r charging /(crediting):
Total Total
2021 2020
OOOO f000
Auditservices:
Fees payable for the audit of the charitable company and consolidated financial statements 22 22
Fees payable for the audit of the charitable company's subsidiaries pursuant to legislation 2 2
Depreciation 981 804
Hire of plant and equipment 18 48
Loss on disposal of tangible assets 2 4
Loss/(Gain)
on foreign exchange		 translations 59 (21)
The average
follows:		 monthly
number of persons employed
by or deployed
to the		 group during the year, analysed by category, was as
Grou 2021 2020
Number Number
Scientific 162 138
Office mana ement and services 20 29
Total 182 167
The aggregate payroll costs ofthese persons were:
2021 2020
Note 6000 L'000
Wages and salaries 6,480 5,982
Redundancy payments 56 126
Social security costs 683 620
Other
ension		 costs 20 889 843
Total 8 108 7,571
Grou
and charitable		 com an 2021 2020
Number Number
F60,000 - F69,999
F70,000 —F79,999
F80,000 - F89,999
F90,000 —F99,999
F100,000 - L'109,999
F110,000 —f119,999
F120,000 - L'129,999
F130,000 —8139,999
Total 23 22
Leasehold Apparatus Apparatus Apparatus Assets
land and and under
Grou buildin
s		 e ui ment construction Total
f000 i'.000 f000 f000
Cost/Valuation
At 1 April 2020 14,609 11,591 727 28,927
Transfer 649 (649)
Additions 225 1,468 1,693
Dis osals 525 10 535
At 31 March 2021 14609 11940 1 538 28085
Accumulated Depreciation
At 1 April 2020 240 8,323 8,583
Charge for the year 245 724 969
Dis osals 525 525
At 31 March 2021 485 8522 9007
Net book value at 31 March 2021 14124 3418 1 536 19078
Net book value at 31 March 2020 14,369 3,268 727 18,364
Leasehold Apparatus Assets
land and and under
Charitable
com an		 buildin
s		 e ui ment construction Total
FOOO f000 f000 OOOO
Cost/Valuation
At 1 April 2020 14,609 11,494 727 28,830
Transfer 649 (649)
Additions 225 1,468 1,693
Dis osals 525 10 535
At 31 March 2021 14609 11843 1 536 27988
Accumulated Depreciation
At 1 April 2020 240 8,227 8,467
Charge for the year 245 723 968
Dis osals 525 525
At 31 March 2021 485 8425 8910
Net book value at 31 March 2021 14124 3418 1,536 19078
Net book value at 31 March 2020 14,369 3,267 727 18,363
All ofthe tangible assets ofthe charitable company are used for charitable purposes.
Software Software
Grou
and charitable		 com an develo ment Total
f000 FOOO
Cost/Valuation
At 1 April 2020 147 147
Additions
Dis osals
At 31 March 2021 147 147
Accumulated
Depreciation
At 1 April 2020 135 135
Charge for the year 12 12
Dis osals
At 31 March 2021 147 147
Net book value at 31 March 2021
Net book value at 31 March 2020 12 12
Registration Country of Class and percentage and percentage of
Subsidiar Undertakin number re istration Principal activit shares held
QIB Extra Limited 06500711 England Contract research 100% ordinary shares
IFREnterprises
Limited		 03398534 England Dormant 100% ordinary shares
IFR NRP Capital
Limited		 08132483 England Dormant 100% ordinary shares
IFR QIB IFR NRP
Enterprises Extra Capital Total Total
Profit and loss account Limited Limited Limited 2021 2020
f000 FOOO f000 6000 FOOO
Turnover 646 646 808
Cost of sales 346 346 477
Gross profit 300 300 331
Administrative e enses 268 268
0 eratin refit retained in subsidia 32 32 97
Group Group Company Company
2021 2020 2021 2020
Note f000 FOOO f000 f000
Grants receivable:
from government bodies 3,477 548 3,477 548
from other sources 1,521 963 1,521 963
Trade debtors 322 84 211 11
Amounts
owed		 by subsidiary undertakings 75 89
Amounts
owed		 by other related parties 21 3,524 4,347 3,524 4,346
Other debtors 83 178 83 178
Pre a ments and accrued income 705 388 693 384
Total amounts fallin due within one ear 9632 6 508 9584 6519
Group Group Company Company
2021 2020 2021 2020
F000 f000 F000 f000
Cash at bank 19,454 16,593 19,180 16,383
Cash in hand 3 2 3 2
Total 19457 16595 19183 16385
Group Group Company Company
2021 2020 2021 2020
Note f000 FOOO f000 f000
Grants received in advance:
from government
bodies		 951 793 951 793
from other sources 2,332 1,485 2,179 1,473
Amounts
owed to subsidiary		 undertakings
Amounts
owed to other		 related parties 3,467 853 3,467 853
Trade creditors 425 498 419 486
Other creditors 1,415 1,106 1,415 1,100
Accruals and deferred income 1,342 1,206 1,204 1,123
Taxation and social securi 161 161 161 161
Total amounts
fallin		 due within one ear 10093 6 102 9796 5989
Total Total
Grou 2021 2020
Note f000 f000
Grants receivable 12 4,998 1,511
Grants received
in advance		 14 3283 2,278
Net rants received in advance 1 715 767
Net grants received
in		 advance at beginning ofyear (767) (872)
Grant monies received during the year (13,343) (12,541)
Grant mone
released		 to SOFA durin the ear 15825 12,646
Net rants received in advance at end of ear 1 715 767
Dilapidations Total Total
Group and charitable company provision 2021 2020
FOOO FOOO FOOO
Provision at beginning ofyear 36 36 251
Charge in the year (36) (36) (34)
Ulilised 181
Provision at end of ear 36
Creditors
Net over one
Fixed current year and Total
assets assets rovisions 2021
f000 f000 FOOO FOOO
Group
Unrestricted:
Fixed assets reserve 14,972 14,972
Designated strategic reserve 6,486 6,486
Designated building reserve 3,050 3,050
General 4,013 4,013
Restricted:
Fixed assets reserve 4,106 4,106
Capital reserve 2,533 2,533
General 2,914 2,914
Net assets 19078 18996 38074
Charitable company
Unrestricted:
Fixed assets reserve 14,972 14,972
Designated strategic reserves 6,486 6,486
Designated building reserves 3,050 3,050
General 3,988 3,988
Restricted:
Fixed assets reserve 4,106 4,106
Capital reserve 2,533 2,533
General 2,914 2,914
Net assets 19078 18971 38049
Creditors
Net over one
Fixed current year and Total
assets assets rovisions 2020
f000 f000 f000 f000
Group
Unrestricted:
Fixed assets reserve 15,746 15,746
Designated strategic reserve 6,921 6,921
Designated building reserve 4,375 4,375
General 4,144 (36) 4,108
Restricted:
Fixed assets reserve 2,630 2,630
Capital reserve 1,561 1,561
Net assets 18376 17001 36 35341
Charitable company
Unrestricted:
Fixed assets reserve 15,739 15,739
Designated strategic reserves 6,921 6,921
Designated building reserves 4,375 4,375
General 4,058 (36) 4,022
Restricted:
Fixed assets reserve 2,636 2,636
Capital reserve 1,561 1,561
Net assets 18375 16915 36 35254
Unrestricted Unrestricted Unrestricted Unrestricted Restricted
fixed designated designated Unrestricted fixed Restricted Restricted Total
assets strate ic buildin eneral assets eneral ca ital 2021
f000 f000 f000 f000 f000 f000 f000 f000
Group
At 1 April 2020 15,746 6,921 4,375 4,108 2,630 1,561 35,341
Surplus for the year 152 1,845 736 2,733
Designated
reserve transfers		 (807) (1,325) 2,132
Depreciation
transfer		 (824) 824
Capital transfers 50 171 (1,193) 972
Other transfers 372 2,550 2,178
At 31 March 2021 14972 6 486 3050 4013 4106 2914 2 533 38074
Charitable
company
At 1 April 2020 15,739 6,921 4,375 4,022 2,636 1,561 35,254
Surplus for the year 214 1,845 736 2,795
Designated
reserve transfers		 (807) (1,325) 2,132
Depreciation
transfer		 (818) 818
Capital transfers 51 170 (1,193) 972
Other transfers 372 2,550 2,178
At 31 March 2021 14972 6 486 3050 3988 4106 2914 2 533 38049

Unrestricted Unrestricted Unrestricted Restricted
fixed designated designated Unrestricted fixed Restricted Total
assets strate
ic		 buiidin enerai assets ca ital 2020
f000 f000 f000 f000 f000 f000 6000
Group
At 1 April 2019 14,196 6,781 6,025 4,281 1,746 3,684 36,713
Deficit for the year (1,239) (539) 406 - (1,372)
Designated
reserve transfers		 1,300 (1,300)
Depreciation
transfer		 (689) 689
Capital transfers 2,239 350 (350) 95 (211) (2,123)
Other transfers 271 271
At 31 March 2020 15,746 6,921 4,375 4,108 2,630 1,561 35341
Charitable
company
At 1 April 2019 14,189 6,781 6,025 4,120 1,752 3,684 36,551
Deficit for the year (1,239) (464) 406 - (1,297)
Designated
reserve transfers		 1,300 (1,300)
Depreciation
transfer		 (689) 689
Capital transfers 2,239 350 (350) 95 (211) (2,123)
Other transfers 271 271
At 31 March 2020 15739 6921 4375 4 022 2636 1 561 35254

Total Total
Grou and charitable com an 2021 2020
FOOO f000
Capital commitments at the end of the financial year for which no provision has been made:
Contracted 391 66
Amounts due under other operating leases for plant and machinery:
Within one year
Between one and two years
Between two and five ears