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2023-03-31-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 ....31

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		 &Small value capital funding
awarded
for
technology
facilities necessary
to deliver		 the period to March 2028 as part of
scientific objectives. institute
strategic 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.
& Increased
energy prices divert resources		 & Energy costs are hedged
in the short-
from science to infrastructure
costs, resulting		 term and specialist advisers
support the
in a reduction
in research
activity and impact.		 institute
with energy procurement.
& High inflation
rates increase research
and		 & Energy-saving
opportunities
are actively
support costs, resulting
in a reduction
in		 sought and investment
cases developed.
research
activity and impact.		 &The impact ofcost inflation
is regularly
discussed
with funders
with a view to
mitigating
the impact on research.
The Board ofTrustees 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
Nomination
Committee
Prof F Lettice Science Innovation
8 Advisory		 Committee (Chair)
Prof P Morgan Remuneration & Nomination Committee (Chair)
Mr G Potter Audit & Risk Committee
Dr E Robertson Science Innovation
8 Advisory		 Committee
Mrs J Waterfield Audit & Risk Committee
(Chair)
Dr M Koufali TBC
Ms G Fine TBC
Prof B Reid TBC

Restricted Restricted
Unrestricted general capital Total Total
funds funds funds 2023 2022
Note FOOO f000 6000 EOOO f000
Incoming resources
Income from Charitable activities
Grant income 13,112 13,112 15,921
Capital and maintenance grants 566 5,254 5,820 744
Other charitable income 642 308 950 682
Income from other trading activities
Trading
income		 791 791 1,276
Investment
income		 392 392 131
Total income 2 1,825 13,986 5,254 21 065 18,754
Expenditure
Charitable
activities		 (3,227) (14,578) (1,260) (19,065) (17,269)
Raising funds (184) - - (184) (166)
Trading
expenditure		 (487) (487) (729)
Total ex enditure 3 3,898 14,578 1,260 19736 18,164
Net incomel ex enditure 2,073 592 3,994 1 329 590
Transfers
Capital transfers 17 (544) 544
Other transfers 17 1,637 (1,637)
Net movement
in		 funds for the ear 980 2,229 4,538 1 329
Funds brought
forward		 17 29,753 2,229 6,682 38,664 38,074
Funds carried forward 17 28,773 11,220 39993 38,664
Group Group Company Company
2023 2022 2023 2022
Note f000 f000 6000 f000
Fixed assets
Tangible assets 9 22,074 18,914 22,074 18,914
Intangible
assets		 10
Total fixed assets 22 074 18,914 22 074 18,914
Current assets
Debtors 12 6,619 5,313 6,365 5,043
Cash at bank and in hand 13 22,926 22,455 22,812 22,033
29,545 27,768 29,177 27,076
Current
liabilities
Creditors: amounts falling due within one year 14 (11,626) (8,018) (11,381) (7,865)
Total net current assets 17919 19,750 17796 19,211
Total assets less current liabilities 39,993 38,664 39,870 38,125
Total net assets 16 39993 38,664 39870 38,125
Funds ofthe charity
Unrestricted
funds
Fixed assets reserve 17 13,317 14,069 13,317 14,069
Designated
strategic		 reserves 17 9,831 10,423 9,831 10,423
Designated
building		 reserves 17 1,250 1,250 1,250 1,250
General reserve 17 4,375 4,011 4,252 3,472
Total unrestriced
funds		 28,773 29,753 28,650 29,214
Restricted funds
Fixed assets reserve 17 8,757 4,845 8,757 4,845
Restricted
general		 17 2,229 2,229
Capital reserve 17 2,463 1,837 2,463 1,837
Total restricted
funds		 11,220 8,911 11,220 8,911
Total charit
funds		 17 39993 38,664 39870 38,125

Total Total
2023 2022
6000 f000
Cash flow from operating activities
Operating
surplus		 1,329 590
Interest receivable (392) (131)
Depreciation
and amortisation		 1,260 1,151
Capital grants received (5,254) (744)
Loss on disposal of tangible assets 7 67
(Increase)/Decrease
in debtors		 (2,206) 2,769
Increase/(Decrease)
in creditors		 3,608 (2,075)
Net cash
rovided b I used		 in o eratin activities 1 648 1,627
Cash flow from investing activities
Interest received 392 131
Repayment
of loan		 900 1,550
Purchase of tangible assets (4,512) (1,054)
Disposal Proceeds 85
Capital grants received 5,254 744
Net cash
rovided b I used		 in investin activities 2 119 1,371
Chan e in cash and cash e uivalents in the re ortin cried 471 2,998
Cash and cash equivalents at the beginning of the reporting period 13 22,455 19,457
Cash and cash e uivalents at the end of the re ortin cried 13 22 926 22,455
Research Other Total Research Other Total
activities activities 2023 activities activities 2022
f000 f000 f000 f000 f000 f000
Grant income
BBSRC 10,495 10,495 10,031 10,031
Other government
departments		 1,517 1,517 4,299 4,299
European
Union		 261 261 754 754
Olher grants 839 839 837 837
Total
rant income		 13,112 13112 15,921 15921
Capital and maintenance grants
BBSRC
Capital expenditure 5,254 5,254
Olher grants
Capital expenditure 566 566
Total ca ital
rants		 5,820 5,820 744
Other charitable
income
Miscellaneous
income		 950 950 682 682
Total other charitable income 950 950 682 682
Trading income
QIB Extra 791 791 1,276 1,276
Total tradin
income		 791 791 1,276 1 276
Investment
income
Interest receivable on cash deposits 370 370 67
Olher interest receivable 22 22 64
Total investment
income		 392 392 131 131
Total incomin
resources		 18,932 2,133 21 065 16,665 2 089 18754

Research Student Other Total Research Student Other Total
activities activities actiu'ties 2023 activities activities activities 2022
Note f000 f000 f000 f000 f000 f000 f000 f000
Direct charitable expenditure
Staff costs 7,395 7,395 7,304 7,304
Direct costs 3,371 472 3,843 2,875 441 3,316
Depreciation 1,260 1,260 1,151 1,151
Buildings
maintenace		 336 336 351 351
Governance costs 51 51 50 50
Supportcosts 4 5,925 255 6,180 4,864 233 5,097
Expenditure on charitable activities 18,287 727 51 19,065 16,545 674 50 17,269
Raising funds 184 184 166 166
Trading expenditure 487 487 729 729
Total ex
nditure		 18287 727 722 19736 16545 674 945 18164
Total Total
Anal sis of overnance costs 2023 2022
f000 OOOO
Staff costs 26 26
Other costs 25 24
Total overnance costs 51 50
Research Student Total Research Student Total
activities activiTies 2023 activities activities 2022
FOOO FOOO 6000 FOOO 6000 6000
Lab management 194 9 203 151 8 159
Institute
management		 760 34 794 638 32 670
Scientific services 965 43 1,008 247 12 259
FaciliTies management and utiliTies* 2,028 90 2,118 1,996 100 2,096
Finance and Purchasing* 533 24 557 388 19 407
Computing
and Library*		 486 22 508 460 23 483
Human
Resources*		 173 8 181 168 8 176
Public engagement 333 14 347 355 18 373
Health and Safety* 103 5 108 115 6 121
Other support services* 350 6 356 346 7 353
Total su
ort costs		 5925 255 6180 4,864 233 5097

Operating
surplus/(deficit)
is		 stated a fter charg ing/(crediting ):
Total Total
2023 2022
f000 f000
Audit services:
Fees payable for the audit of the charitable company and consolidated financial statements 20 19
Fees payable for the audit of the charitable company's subsidiaries pursuant to legislation 2 2
Depreciation 1,260 1,151
Hire of plant and equipment 19 22
Loss on disposal oftangible assets 7 67
(Gain)/Loss
on foreign exchange		 translations (4) 8
The averag
follows:		 e m onthly
number of persons employed
by or deploy		 ed
to the group du		 ring the year , analysed by category, was as
Group Group Company Company
2023 2022 2023 2022
Number Number Number Number
Scientific 161 163 154 156
Office mana ement and services 16 19 14 17
Total 177 182 173
The aggregate payroll costs ofthese persons were:
Group Group Company Company
2023 2022 2023 2022
Note 6000 F000 f000 OOOO
Wages and salaries 7,004 6,761 6,701 6,450
Redundancy payments 9 3 9 3
Social security costs 767 683 735 663
Other
ension		 costs 19 940 948 916 917
Total 8720 8,395 8361 8,033
Group Group Company Company
2023 2022 2023 2022
Number Number Number Number
f60,000 - F69,999 12 11
F70,000 - F79,999 6 6
F80,000 - F89,999 5 5
f90,000 - F99,999 1 1
F100,000 - F109,999 2 2
F110,000 - 6119,999
F120,000 - 6129,999
F130,000 - F139,999
F140,000 - F149,999
Total 29 22 28 22
Plant,
Leasehold machinery Apparatus Assets
land and and and under
Grou buildin
s		 e ui ment e ui ment construction Total
f000 f000 f000 f000 f000
Cost/Valuation
At 1 April 2022 14,670 278 13,751 302 29,001
Transfer 95 (95)
Additions 1,932 2,580 4,512
Dis osals 187 187
At 31 March 2023 14670 278 15591 2 787 33326
Accumulated Depreciation
At 1 April 2022 731 27 9,329 10,087
Charge for the year 246 28 986 1,260
Dis peals 95 95
At 31 March 2023 977 55 10220 11252
Net book value at 31 March 2023 13693 223 5371 2 787 22 074
Net book value at 31 March 2022 13,939 251 4,422 302 18,914
Plant,
Leasehold machinery Apparatus Assets
land and and and under
Charitable
com an		 buildin
s		 e ui ment e ui ment construction Total
f000 f000 f000 f000 f000
Cost/Valuation
At 1 April 2022 14,670 278 13,654 302 28,904
Transfer 95 (95)
Additions 1,932 2,580 4,512
Dis osals 187 187
At 31 March 2023 14670 278 15494 2 787 33229
Accumulated Depreciation
At 1 April 2022 731 27 9,232 9,990
Charge for the year 246 28 986 1,260
Dis osals 95 95
At 31 March 2023 977 55 10123 11155
Net book value at 31 March 2023 13693 223 5371 2 787 22 074
Net book value at 31 March 2022 13,939 251 4,422 302 18,914
Software Software
Grou
and charitable		 com an develo ment Total
f000 f000
Cost/Valuation
At 1 April 2022 147 147
Additions
Dis osals
At 31 March 2023 147 147
Accumulated
Depreciation
At 1 April 2022 147 147
Charge for the year
Dis osals
At 31 March 2023 147 147
Net book value at 31 March 2023
Net book value at 31 March 2022
The following are the The following are the operating
subsidiary		 undertakings in which the charitable in which the charitable company has an interest:
Registration Country of Class 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 2023 2022
f000 L'000 f000 6000 L'000
Turnover 800 800 1,276
Cost of sales 396 396 537
Gross pro6t 404 739
Administrative e enses 286 286 195
Operating
profit		 118 118
Interest receivable and similar income
Profit retained in subsidiar 124 124
Net assets at 31 March 125 125 541
Group Group Company Company
2023 2022 2023 2022
Note 6000 f000 f000 OOOO
Grants receivable:
from government bodies 1,345 743 1,345 743
from other sources 2,834 1,657 2,834 1,657
Trade debtors 301 223 91 26
Amounts
owed		 by subsidiary undertakings 57 72
Amounts
owed		 by other related parties 469 1,452 469 1,452
Other debtors 213 98 213 97
Pre a ments and accrued income 1457 1 140 1 356 996
Total amounts fallin due within one ear 6619 5,313 6365 5,043
Included
in the		 above amounts is 2350k (2022: E1,250k) unsecured loan to Ql Partners,
of which		 E200k (2022:6350k) is
repayable
in		 over one year. Interest is payable on the loan at a rate of3.0% per annum.
Group Group Company Company
2023 2022 2023 2022
6000 f000 f000 OOOO
Cash at bank 22,924 22,452 22,810 22,031
Cash in hand 2 3 2 2
Total 22 926 22,455 22812 22,033
25
Group Group Company Company
2023 2022 2023 2022
Note 6000 FOOO f000 6000
Grants received in advance:
from government
bodies		 956 892 956 892
from other sources 2,581 2,590 2,467 2,572
Amounts
owed to subsidiary		 undertakings
Amounts
owed to other		 related parlies 21 975 788 975 788
Trade creditors 3,136 849 3132 842
Other creditors 1,722 1,470 1,669 1,430
Accruals and deferred income 2,061 1,265 2,022 1,186
Taxation and social securi 195 164 160 155
Total amounts
fallin		 due within one ear 11626 8,018 11381 7,865
Total Total
Grou 2023 2022
Note 6000 f000
Grants receivable 12 4,179 2,400
Grants received
in advance		 14 3537 3,482
Net rants received in advance 642 1 082
Net grants received
in		 advance at beginning ofyear (1,082) 1,715
Grant monies received during the year (17,208) (19,462)
Grant mone
released		 to SOFA durin the ear 18932 16,665
Net rants received in advance at end of ear 642 1,082
Net
current Total
ass@5 2023
6)00 6)00 &000
Group
Unrestricted:
Fixed assets reserve 13,317 13,317
Desi(7tated strategic reserve 9,831 9,831
Desi(T)ated built1ng reserve 1.250 1,250
General 4,375 4,375
Restricted:
Fixed assets reserve 8,757 8,75T
Capital reserve 2,463 2,463
General
074 17919 39993
Charitable compan)r
Unrestricted:
Fixed assets reserve 13,317 13,317
Desi(7tated strategic reserves 9,831 9,831
Desolated built1ng reserves 1.250 1250
General 4,252 4,252
Restricted:
Fixed assets reserve 8,757 &,75T
Capital reserve 2,463 2,463
General
074 17796 39870
Unrestricted Unrestricted Unrestricted Restricted
fixed designated designated Unrestricted fixed Restricted Restricted Total
assets strate
ic		 buildin eneral assets eneral ca ital 2023
f000 f000 6000 6000 f000 f000 OOOO f000
Group
At 1 April 2022 14,069 10,423 1,250 4,011 4,845 2,229 1,837 38,664
Surplus for the year (2,073) 3,994 (592) - 1,329
Designated
reserve transfers		 (1,592) 3,229 (1,637)
Depreciation
transfer		 (804) 804
Capital transfers 52 208 (886) 626
Other transfers 1,000 1,000
At 31 March 2023 13317 9831 1 250 4 375 8757 2463 39993
Charitable
company
At 1 April 2022 14,069 10,423 1,250 3,472 4,845 2,229 1,837 38,125
Surplus for the year (1,657) 3,994 (592) - 1,745
Designated
reserve transfers		 (1,592) 3,229 (1,637)
Depreciation
transfer		 (804) 804
Capital transfers 52 208 (886) 626
Other transfers 1,000 1 000
At 31 March 2023 13317 9831 1 250 4252 8757 2463 39870
Unrestricted Unresb. icted Unresb ictsd Restricted
fixed designated designated Unresb icted fixed Restricted Resbicted Total
assets sb ategic building general assets general capital 2022
F000 FOOO FOOO OOOO FOOO FOOO FOOO 8000
At 1April 2021 14,972 6,486 3,050 4,013 4,106 2,914 2,533 38,074
Surplus for the year (1,326) (590) 2,506 - 590
Desiqnatsd
reserve transfers		 3,937 (1,800) 1,054 (3,191)
Depreciation
transfer		 (903) 903
Ca ital transfers 270 426 696
At 31 March 2022 14,069 10,423 1,250 4,011 4,845 2,229 1,837 38,664
Charitable can pony
At 1 April 2021 14,972 6,486 3,050 3,988 4,106 2,914 2,533 38,049
Surplus for the year (1,840) (590) 2,508 76
Designated
reserve transfers		 3,937 (1,800) 1,054 (3,191)
Depreciation
transfer		 (903) 903
Ca ital transfers 270 426
At 31 March 2022 1 069 10423 1 250 3472 845 229 1 837 38125
Total Total
Grou and charitable com an 2023 2022
f000 6000
Capital commitments at the end of the financial year for which no provision has been made:
Contracted 1 087 963
Amounts due under other operating leases for plant and machinery:
Within one year
Between one and lwo years
Between lwo and five ears