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2023-07-31-accounts

UK COUNCIL FOR GRADUATE EDUCATION

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2023

CHARITY NO. 1061495

UK COUNCIL FOR GRADUATE EDUCATION

CONTENTS TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2023

Contents Pages
Reference and Administrative Information 1
Trustees’ Report 2 – 7
Auditors’ Report 8 – 10
Statement of Financial Activities 11
Balance Sheet 12
Notes to the Financial Statements 13 – 17

UK COUNCIL FOR GRADUATE EDUCATION

REFERENCE AND ADMINISTRATIVE INFORMATION FOR THE YEAR ENDED 31 JULY 2023

Chair Professor Douglas Cleaver, Sheffield Hallam University
Treasurer Dr James Bruce, Open University
Director Dr O Gower
Executive Committee Members Professor Julie Sheldon, Honorary Secretary, Liverpool John Moores
University
Professor Janet De Wilde, Vice Chair, Queen Mary University of
London
Associate Professor Michelle Morgan, University of East London
Dr Karen Clegg, University of York
Associate Professor Hala Mansour, University of Northampton
Dr Tina Ramkalwan, Brunel University
Rachel Van Krimpen, University of Nottingham
Carolyn Wynne, Coventry University
Dr Gale Macleod, University of Edinburgh
Dr Janet Carlton, University College Dublin (Appointed 24 March
2023)
Elizabeth Halton, University College London (Appointed 24 March
2023)
Auditors Haslehursts Limited
88 Hill Village Road
Four Oaks
Sutton Coldfield
West Midlands
B75 5BE
Bankers HSBC Bank PLC
Dudley Branch
226 High Street
Dudley
West Midlands
DY1 1PQ
Charity Address Lichfield Centre
The Friary
Lichfield
Staffordshire
WS13 6QG

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UK COUNCIL FOR GRADUATE EDUCATION

TRUSTEES REPORT FOR THE YEAR ENDED 31 JULY 2023

The UK Council for Graduate Education Executive Committee present their annual report and the audited financial statements of the charity for the year ended 31 July 2023. The Executive Committee have adopted the provisions of the Statement of Recommended Practice (SORP) “Accounting and Reporting by Charities” (FRS 102) in preparing the annual reports and financial statements of the Charity.

STRUCTURE, GOVERNANCE AND MANAGEMENT

UKCGE is the UK Council for Graduate Education. It was founded in 1994 under the Chairship of Professor Robert Burgess to champion the interest of graduate education.

The UK Council for Graduate Education is the representative body for postgraduate education in the UK, and the third largest organisation of its kind in the world. The Council’s mission is to champion and enhance postgraduate education and research by enabling collective leadership on the development of postgraduate affairs across UK HEIs, research agencies and funding bodies. It does this by providing learning and professional development events, commissioning research, sharing best-practice developments. And by gathering information and evidence to support policies which promote a strong and sustainable postgraduate sector.

UKCGE was granted Charitable Status in 1997 by the Charity Commission for England and Wales (Registered charity number 1061495).

As a not-for-profit organisation, the Council is committed to the following principles: that graduate education contributes to the wider public good; that postgraduate education should be open and available to those capable of undertaking it; and that the UK Higher Education Institutions must meet the needs of postgraduate students in the 21st century.

Governing Document

The Council has a Constitution dating from 1994 which specifies how it is governed and makes provision for certain administrative structures. This is periodically reviewed and updated as necessary after consultation with the full membership. The Constitution was most recently updated in July 2021.

Governing Bodies

The Council is managed by an Executive Committee, consisting of elected individuals from full member institutions of the Council. Members of the Executive Committee serve a three year term. The Executive Committee can co-opt a further 4 Committee Members, who serve for a one year term. Executive Committee members are the trustees of the Charity, and are legally responsible for the overall management and control of the Council. They meet at least three times a year.

There are two sub-committees of the Executive Committee: the Officers’ Committee; and the Audit Committee. The Officers’ Committee is comprised of: Chair, Vice-Chair, Honorary Secretary and Honorary Treasurer. These posts are filled by election requiring a simple majority of the Executive Committee. The posts are filled for three years in the case of the Chair and Treasurer and two years in the case of the ViceChair and the Honorary Secretary. The Audit Committee is comprised of 3 members from the Executive Committee, including the Treasurer, Vice-Chair and one other representative.

The induction process for newly elected Executive Committee Members comprises of an informal meeting with the Chair and the Director before attendance at the Executive Committee meeting in September. The Executive Committee handbook and welcome pack provided to each new member includes: a brief history of the Council, copies of the last three sets of Executive Committee and Officers minutes, a copy of the latest annual review including accounts and a copy of the Constitution.

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UK COUNCIL FOR GRADUATE EDUCATION

TRUSTEES REPORT (continued) FOR THE YEAR ENDED 31 JULY 2023

Council Staff

The Council is recharged on a monthly basis by Staffordshire University for the Director, Events Officer, Communications Officer, and the Administrative Officer. These members of staff act as the first point of contact for the Council and are responsible for the day to day running of the Council, managing the programme of Council events and implementing policy and strategy agreed by the Director and the Executive Committee.

Members

Over 90% of UK Higher Education institutions are full members of the UK Council for Graduate Education. The Council also accepts associate membership from overseas HEIs and from organisations with an interest in postgraduate affairs. Retired individuals and independent scholars with an interest in postgraduate education may also apply for individual membership of the Council.

The Council welcomes and values feedback from all its members, as well as delegates who attend the various workshops and conferences run throughout the year. Feedback is actively sought through feedback forms for delegates at Council events and is also regularly received by email, telephone and through the Council’s website. The direction of the Council, in particular its programme of events, is influenced by this feedback.

Risk Management

The Executive Committee and the Director are responsible for the management of the risks faced by the Council. As such, risks are identified, assessed and controls established throughout the year.

The key controls used by the Council include:

Through the risk management processes established for the Council, the Executive Committee are satisfied that the major risks identified have been adequately mitigated where necessary. It is recognised that these systems can only provide reasonable but not absolute assurance that major risks have been adequately managed.

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UK COUNCIL FOR GRADUATE EDUCATION

TRUSTEES REPORT (continued) FOR THE YEAR ENDED 31 JULY 2023

OBJECTIVES AND ACTIVITIES FOR THE PUBLIC BENEFIT

The Executive Committee have complied with the public benefit guidance issued by the Charities Commission.

The UK Council for Graduate Education is established for the public benefit to maintain and advance the education of graduates within the UK and to enhance the excellence of UK postgraduate education.

These are currently defined in the following ways:

UKCGE promotes:

The Council is:

The Council offer year on year as follows:

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UK COUNCIL FOR GRADUATE EDUCATION

TRUSTEES REPORT (continued) FOR THE YEAR ENDED 31 JULY 2023

ACHIEVEMENTS AND PERFORMANCE

Recent Developments

In 2022/23 we ran 24 events, bringing together over 1,200 representatives of the postgraduate sector to collaborate on how best to develop postgraduate education. Some of our meetings were held under the Chatham House Rule so participants could speak confidentially about the challenges they were facing, both within their institutions and in relation to policies set by national bodies.

All our meetings are led by volunteers, themselves representatives of the postgraduate sector. UKCGE staff work with our volunteers to frame a discussion, but we also consult with our networks to ensure that we are responding to their needs.

In addition to these discussions, we have continued to provide research publications: including a major research project on behalf of UKRI on what might be the role of funders in supporting research supervisors. Our research reports and publications have been widely circulated among member institutions, cited by other national bodies such as UKRI, and referenced in a wide array of academic literature.

2022/23 has been another extremely active year for the Council, during which we appointed a new Communications Officer. We have continued to accommodate new ways of working post pandemic – in particular, we have been mindful that our stakeholders now prefer online meetings where possible. We have maintained the variety and vibrancy of our events programme and published important research on the postgraduate sector. This highly successful activity has once again resulted in a significant increase in the profile of the Council as a major stakeholder in improving the quality of postgraduate education in the UK and beyond.

The impact of Covid-19

In light of the changing ways of working after the Covid-19 pandemic, we have continued to deliver some workshops online at a significantly reduced registration fee. This had an impact on the Council’s business model, and following discussion at the Annual General Meeting in March 2023, the decision was taken to increase the subscription fees for members of the Council in exchange for free participation at online workshops, discussions and seminars.

Financial Review

The Council is reliant on the income from its membership fees, sponsorship, annual conferences and programme of workshops which totalled £284,015 in 2022-2023, compared to £239,096 in the previous year.

Overall expenditure was £239,419 in 2022-2023 compared to £225,035 in the previous year, allowing the Council to end the year with a surplus of £44,596 compared to a surplus of £14,061 in the previous year.

Reserves Policy

The Council’s current reserves at 31 July 2023 are £290,779.

Financial Arrangements

Financial management is provided by the Honorary Treasurer, Director and Executive Committee. Operational financial tasks are performed by the Director. The Honorary Treasurer and the Director agree draft procedures and budgets for Executive Committee approval, and prepare budgetary reports which are presented at the quarterly meetings of the Officers and Executive Committee. The fees for subscriptions and events are approved during the course of the Annual General Meeting.

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UK COUNCIL FOR GRADUATE EDUCATION

TRUSTEES REPORT (continued) FOR THE YEAR ENDED 31 JULY 2023

Plans For Future Periods

The Council has developed a 4 year Business Plan and strategy from December 2019. The Council’s objectives for the coming period are as follows:

In brief the Council’s priorities for the coming years are to:

Strengthen our representation of the sector

We will give more opportunities for individuals to contribute to the strategic direction of the Council.

Build on our trust and credibility

We will develop our communications through our new website and ensure that our stakeholders retain their confidence in our effectiveness.

Set standards and expectations

Building on the success of the Good Supervisory Practice Framework, we will seek opportunities to develop that framework, and to build consensus on other areas of postgraduate education and research.

Sustain the impact of our events

We will take a more thematic approach to our events programme to create a sustained momentum on key issues.

Develop our role as a knowledge exchange facilitator

We will stimulate and disseminate the latest research and thinking on postgraduate education and research.

The core business of the Council should not be compromised in the development of other strategies for growth and expansion.

Auditors

A resolution proposing that Haslehursts be re-appointed as auditors of the charity will be put to the Annual General Meeting.

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UK COUNCIL FOR GRADUATE EDUCATION

TRUSTEES REPORT (continued) FOR THE YEAR ENDED 31 JULY 2023

Trustees’ Responsibilities Statement

The Trustees are responsible for preparing the Trustees’ Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The law applicable to charities in England & Wales requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing these financial statements, the Trustees are required to:

The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charities (Accounts and Reports) Regulations 2008 and the provisions of the constitution. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Approved by the Executive Committee of the UK Council for Graduate Education and signed on its behalf by:

Professor D Cleaver (Chair)

…………………………………………

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UK COUNCIL FOR GRADUATE EDUCATION

INDEPENDENT AUDITORS REPORT TO THE TRUSTEES OF UK COUNCIL FOR GRADUATE EDUCATION

Opinion

We have audited the financial statements of UK Council for Graduate Education (the ‘charitable company’) for the year ended 31 July 2023 which comprise of Statement of Financial Activities, Balance Sheet and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the auditor responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern.

In auditing the financial statements, we have concluded that the trustees’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the trustees' annual report, other than the financial statements and our auditor’s report thereon. The trustees are responsible for the other information. Our opinion on the financial statements does not cover the other information and we do not express any form of assurance conclusion thereon.

Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements, or our knowledge obtained in the course of the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

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UK COUNCIL FOR GRADUATE EDUCATION

INDEPENDENT AUDITORS REPORT TO THE TRUSTEES OF UK COUNCIL FOR GRADUATE EDUCATION

Matters on which we are required to report by exception

We have nothing to report in respect of the following matters in relation to which the Charities (Accounts and Reports) Regulations 2008 require us to report to you if, in our opinion:

Responsibilities of trustees

As explained more fully in the trustees’ responsibilities statement set out on page 7, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the charitable company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

Auditor’s responsibilities for the audit of the financial statements

We have been appointed as auditor under section 1443 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder.

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

We focused on laws and regulations which could give rise to a material misstatements in the annual report, including, but not limited to the Charities Act 2011. Our tests included agreeing the annual report disclosures to underlying supporting documentation, enquiries with management and third party representatives. There are inherent limitations in the audit procedures described above and, the further removed non-compliance with laws and regulations is from the events and transactions reflected in the annual report, the less likely we would become aware of it. We did not identify any key audit matters relating to irregularities, including fraud. As in all our audits, we also addressed the risk of management override of internal controls, including testing and evaluating whether there was evidence of bias by the directors that represented a risk of material misstatement due to fraud.

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UK COUNCIL FOR GRADUATE EDUCATION

INDEPENDENT AUDITORS REPORT TO THE TRUSTEES OF UK COUNCIL FOR GRADUATE EDUCATION

Auditor’s responsibilities for the audit of the financial statements (continued)

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of the instances of noncompliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

A further description of our responsibilities is available on the FRC's website at: https://www.frc.org.uk/auditors/audit-assurance/auditor-s-responsibilities-for-the-audit-of-the-fi/description-ofthe-auditor%E2%80%99s-responsibilities-for. This description forms part of our auditor’s report.

Use of our report

This report is made solely to the charitable company’s trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charitable company’s trustees those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company’s trustees as a body, for our audit work, for this report, or for the opinions we have formed.

For and on behalf of Haslehursts Limited Chartered Accountants Statutory Auditor 88 Hill Village Road Four Oaks Sutton Coldfield West Midlands B75 5BE

Date

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UK COUNCIL FOR GRADUATE EDUCATION

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 JULY 2023

Unrestricted Unrestricted
Total Funds Total Funds
2023 2022
Notes £ £
Income and endowments from
Donations, legacies and grants 2 - 1,200
Other trading activities 3 282,796 237,804
Investment income 4 1,219 92
____ ____
Total income and endowments 284,015 239,096
____ ____
Expenditure
Charitable activities 5 239,419 225,035
____ ____
Total expenditure 239,419 225,035
____ ____
Net income 44,596 14,061
____ ____
Net movement in funds 44,596 14,061
Reconciliation of funds
Total funds brought forward 12 246,183 232,122
____ ____
Total funds carried forward 290,779 246,183
~~____~~ ~~____~~

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UK COUNCIL FOR GRADUATE EDUCATION

BALANCE SHEET AS AT 31 JULY 2023

Notes
Fixed Assets
Tangible assets
7
Current Assets
Debtors
8
Cash at bank and in hand
Creditors falling due within one year
9
Net Current Assets
Total Assets less Current Liabilities
Net Assets
Funds
Unrestricted funds
Total Funds		 2023
£
41,563
_
41,563
_
10,191
277,600
_
287,791
(38,575)
_
249,216
_
290,779
_
290,779
~~_~~
290,779
_
290,779
~~____~~		 2022
£
38,631
_
38,631
_
54,099
216,918
_
271,017
(63,465)
_
207,552
_
246,183
_
246,183
~~_~~
246,183
_
246,183
~~____~~

The notes on pages 13 to 17 form part of these accounts

The financial statements on pages 13 to 17 were approved and authorised for issue by the Trustees on the ………………………………….. and signed on their behalf by:

Dr J Bruce (Treasurer)

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UK COUNCIL FOR GRADUATE EDUCATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2023

1. ACCOUNTING POLICIES

Basis of preparation

The UK Council for Graduate Education is a registered charity in England and Wales. The address of the charity is given in the charity information on page 1 of these financial statements. The nature of the Charity’s operations and principal activities are disclosed in the Trustees Report.

The charity constitutes a public benefit entity as defined by FRS 102. The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), the Charities Act 2011 and UK Generally Accepted Accounting Practice.

The financial statements are prepared on a going concern basis under the historical cost convention, modified to include items at fair value. The financial statements are presented in sterling which is the functional currency of the charity.

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

Funds

The charity has a single unrestricted fund available for use at the discretion of the trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes.

Income recognition

All income is recognised once the charity has entitlement to the income, it is certain that income will be received and the monetary values of income can be measured with sufficient reliability.

Expenditure recognition

All expenditure is accounted for on an accrual basis and has been classified under the headings that aggregate all costs related to the category.

Irrecoverable VAT

The charity is not registered for VAT, therefore irrecoverable VAT is charged against the relevant costs.

Investment income

Credit is taken for interest received when it is received into the bank account. Interest received is shown gross of tax.

Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:

Office Equipment - 15% reducing balance and 25% straight line.

Debtors and creditors due within one year

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price.

Going concern

The financial statements have been prepared on a going concern basis as the trustees believe that no material uncertainties exist. The trustees have considered the level of funds held and the expected level of income and expenditure for twelve months from authorising these financial statements. The budgeted income and expenditure is sufficient with the level of reserves for the charity to be able to continue as a going concern.

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UK COUNCIL FOR GRADUATE EDUCATION

NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31 JULY 2023

2. INCOME FROM DONATIONS AND LEGACIES

2023 2022
£ £
Donations - 1,200
Grants - -
____ ____
- 1,200
____ ____
3. OTHER TRADING ACTIVITIES
2023 2022
£ £
Subscriptions 121,352 110,073
Conference fees and workshop income 140,064 74,113
Research supervision recognition programme income 5,400 4,200
Miscellaneous income 89 775
Research income 15,891 48,643
____ ____
282,796 237,804
____ ____
4. INVESTMENT INCOME
2023 2022
£ £
Bank interest 1,219 92
____ ____

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UK COUNCIL FOR GRADUATE EDUCATION

NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31 JULY 2023

5. CHARITABLE ACTIVITIES COSTS

2023 2022
£ £
Activities undertaken directly
Conference and workshop costs 47,383 23,051
Research expenditure into post graduate students’ data 2,292 2,096
Research supervision recognition programme costs - 184
Bad debts 4,680 1,749
Printing and publicity 6,303 5,850
Support costs
Governance (see note 6) 7,811 8,502
Staff costs 136,186 151,880
Staff development 58 751
Rent 9,009 9,009
Insurance 1,264 1,203
General expenses 1,707 1,731
Bank charges 10,793 4,378
Depreciation 11,933 3,725
Research costs - 10,216
Loss on disposal of fixed assets - 710
____ ____
239,419 225,035
____ ____
6. GOVERNANCE COSTS
2023 2022
£ £
Executive committee costs 1,011 868
Auditors’ remuneration 6,800 7,514
Accountancy - 120
____ ____
7,811 8,502
____ ____

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UK COUNCIL FOR GRADUATE EDUCATION

NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31 JULY 2023

7. TANGIBLE FIXED ASSETS

Office
Equipment
COST
1 August 2022 47,050
Additions 14,865
Disposals -
_
31 July 2023 61,915
_
DEPRECIATION
1 August 2022 8,419
Charge for the year 11,933
Disposals -
_
31 July 2023 20,352
_
NET BOOK VALUE
31 July 2023 41,563
_
31 July 2022 38,631
_
DEBTORS
2023 2022
£ £
Trade debtors 10,191 54,099
Prepayments and accrued income - -
Other debtors - -
____ ____
10,191 54,099
____ ____

8. DEBTORS

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UK COUNCIL FOR GRADUATE EDUCATION

NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31 JULY 2023

9. CREDITORS – Amounts falling due within one year

2023 2022
£ £
Accruals and deferred income 37,980 62,870
Other creditors 595 595
____ ____
38,575 63,465
____ ____

10. TAXATION

As a charity, the UK Council for Graduate Education is exempt from tax on income and gains to the extent that these arise from to its charitable activities.

11. TRUSTEES REMUNERATION AND EXPENSES

2023 2022
£ £
Travel and subsistence reimbursed 537 410
____ ____

The total number of trustees who claimed reimbursement of expenses during the financial year was 4 (2022 - 6).

No Trustees received any remuneration during the year.

12. FUND RECONCILIATION

Balance at 1 Incoming Outgoing Balance at
August 2022 Resources Resources 31 July 2023
UNRESTRICTED FUNDS
General 246,183 284,015 (239,419) 290,779
RESTRICTED FUNDS
None - - - -
_ _ _ _
246,183 284,990 (240,394) 290,779
_ _ _ _

13. ULTIMATE CONTROLLING PARTY

There is no ultimate controlling party.

14. RELATED PARTIES

The charity has no related parties other than its directors and trustees.

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