| Message from the President | |
|---|---|
| Trustees' report | |
| This year's highlights | |
| Delivering on our aims |
10 |
| Looking ahead: what we will do in 2023/24 | 12 |
| Where our income comes from and how it is spent | |
| Operational and governance matters |
19 |
| Statement ofTrustees' responsibilities |
24 |
| Independent auditor's report |
|
| Statement offinancial activNes |
31 |
| Balance sheet | 32 |
| Statement ofcash flows | |
| Notes to the financial statements |
| London Metropolitan University, Uriiversity |
London Metropolitan University, Uriiversity |
of | West London, | West London, | ||||
|---|---|---|---|---|---|---|---|---|
| ' | Building ettectlve parlnershlps award |
Group Grl | University ofRoehampfon, Kingston University, University Hertfordshire. University of Westminster, and partnered |
of with |
||||
| University ofGreenwich | ||||||||
| Strategic Innovation award |
Unifemps | University of Reading | ||||||
| ' , Supporting student/ graduate ,'employability |
Symplicity | B'runel University | ||||||
| Sustalnabllily impact |
Handshake | ~ University of Exeter |
||||||
| , | Squalsy, diversify and Inclusivtty |
Gradconsult | ( BPP University | |||||
| Outstanding newcomer |
, Richard Allen, Leeds Beckett University | |||||||
| i | Stgniscant corllllbutlon |
I Andy Morris, De Montfort University |
||||||
| John Itoberts Memorial President's medal |
Award | Stephen Nash, Durham University ~ Dr Nalayini Thambar, Liz Wilkinson ond |
Dr | Shone Johnston |
| Full member | 3,814 | 4,O72 | 4,564 | ||||
|---|---|---|---|---|---|---|---|
| , | Partner member | 206 | 244 | ||||
| 1 | |||||||
| AfRliate subscriber | 65 | 56 | 4o | ||||
| Student aRlllate subscriber | 5 | 5 | |||||
| i | |||||||
| ReNred aNltate subscriber | 84 | 84 | 83 | ||||
| ~ | |||||||
| Total membership | body | 4.174 | 4,461 | 4,939 |
| Represent | AGCAS member | AGCAS member | AGCAS member | expertbe | In wider | HE | In 2022/23, we represented our member views in UK |
|
|---|---|---|---|---|---|---|---|---|
| policy debates | and with external stakeholders | government consultations, presenting to APPGs and |
||||||
| parliamentary consultations. AGCAS continued to |
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| represent member views with HESA regarding Graduate |
||||||||
| Outcomes Survey. |
||||||||
| Develop our research | base | in support | ot our | ,'AGCAS published our UPP Foundotion funded report |
||||
| strategic | themes | 'International Graduate Routes: Narratives from the UK |
||||||
| job market' in February 2023.We supported NAGCAS |
||||||||
| with their annual survey ofAustralian HE careers services |
||||||||
| and undertook several other research projects which |
||||||||
| will be published in autumn 2023. |
||||||||
| Develop an enhanced profile for AGCAS research and knowledge activity |
Our UPP Foundotion funded report 'International Graduate Routes: Narratives from the UK job market' |
|||||||
| was endorsed by Universities UK International (UUKi), the |
||||||||
| UK Council for International Student Affairs (UKCISA) and |
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| the British Universities' International Liaison Association |
||||||||
| (BUILA). Itattracted media coverage in the Times Higher |
||||||||
| Education, Wonkhe, HEPI and Prospects Laminate. |
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| UKCISA feotured the report in their annual policy report |
||||||||
| and our research was heavily cited in areport from the | ||||||||
| All-Party P'arliamentary Group (APPG) for International |
||||||||
| Students, after the AGCAS International Task Group was |
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| invited to contribute evidence in Parliament. |
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| Increasing | the external | pronle of AGCAS and | our | , We have grown our digital channels substantially, with |
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| I | activities | through | Increased | media and social | substantial growth in follower numbers, reach and |
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| media engagement | engagements across the X (formerly Twitter) and |
|||||||
| Unkedln social media platforms. This approach has |
||||||||
| been supplemented by targeted engagement with key |
||||||||
| sector press bodies such as the Times Higher Education | ||||||||
| and Wonkhe, as well as national media outlets such as |
||||||||
| the BBC. |
| ~- | |||||||
|---|---|---|---|---|---|---|---|
| Embed the AGCAS Membership | Quality Standard | I The fiat Membership Quality Standards were aworded |
|||||
| Into normal practice (all member | services go | I to service members in 2020/21. A number |
of those due | ||||
| through the process once every |
three | years) | to update and renew in 2023/24 have already |
||||
| completed this process and met the requirements to |
|||||||
| retain the standard for the next 3years. |
|||||||
| Review the feasibility ofAGCAS | becoming | an end- | The project to review the feasibility of AGCAS becoming | ||||
| point assessor for the higher apprenticeship | for | an end-point assessor has been delayed |
until 2023/24. | ||||
| career development professionals |
|||||||
| Align our Learning programme |
to | our | Professional | The Learning Committee have mapped |
our training | ||
| , Pathways | programme tothe Professional Pathways. |
this will be | |||||
| shared with AGCAS members in 2023/24. |
|||||||
| Increase the number ofindividual | members, | full | Member numbers increased by 478 in 2022/23, driven |
||||
| and partner, from exlstfng Inslitutlonal | members | almost entirely by an increase in full members. |
|||||
| ,'Solid AGCAS's reserves | The AGCAS reserves were increased by |
E146,946 in | |||||
| , 2022/23. There are plans to invest in our |
ITsystems and | ||||||
| infrastructure in 2023/24 and 2024/25. |
| Actions | that we will undertake | over | the course of2023-2026 will help us to deliver the following aims: |
||||
| ,'Aim I: | AGCAS isrecegnised | Develep a research programme iri support ofour mission and vision |
|||||
| for expert knowledge | and a strategy for its dissemination. |
||||||
| ' on HEstudent career | Build the sector knowledge base and promote members' expertise |
||||||
| I development and |
(e.g. in curriculum design, support for under-represented groups). |
||||||
| graduate | Advocate the value ofresearch-informed practice and support |
||||||
| employability. | building the capacify of HE careers staff to conduct robust research. |
||||||
| l | ~Aim 2: | We shape the | Develop regular position statements and provide policy statements |
on | |||
| conversation around |
key topics affecting the sector. | ||||||
| l student employability |
~ | Represent members' interests through active participation in relevant |
|||||
| l and graduate | policy discussions and engagement with sector consultations. |
||||||
| employment. | Promote adoption ofthe work experience standard and good |
||||||
| practice guide by employers and HE institutions throughout the UK. |
|||||||
| Aim 3: | The profession reflecfs |
Commit to addressing gaps in diversity, as informed by the data, to |
|||||
| the students we serve | ensure emore diverse talent pipeline into the profession. |
||||||
| by creating an | D'evelop inclusive cu1tures, spaces, and processes tor eur membership |
||||||
| inclusive. resilient. | activities. | ||||||
| and innovative | ~ | Ensure that inclusion and diversity are embedded in the design and |
|||||
| community. | planning of all activities. |
||||||
| Aim tk | The HEcareers | ~ | Identify and support multiple routes into the profession and investigate |
||||
| profession is |
becoming an apprenticeship end-point assessment organisation. |
||||||
| recognised as an |
~ | Demonstrate and promote how the AGCAS Professional Pathways |
|||||
| attractive profession |
support progression within the HE careers profession. |
||||||
| I in which towork. | ~ | Ensure that the principles of inclusivity and diversity underpin AGCAS' |
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| professional standards. |
|||||||
| Aim 5: | Our members are |
~ | Ensure the volunteer recruitment process makes the benefits of |
||||
| engaged in the |
volunteering available to all members. |
||||||
| development and |
Demonstrate the link b'etween volunteering for AGCAS and career |
||||||
| management of |
development. | ||||||
| AGCAS as well as | Improve support for members in management and leadership roles |
||||||
| participating in |
including those who are not Heads ofService. |
||||||
| activities. | |||||||
| l | Aim6: | AGCAS structures | ' | ~ | Develop our systems to capture impact data. | ||
| and systems ensure | Develop the AGCAS professional development portfolio to include |
||||||
| l effective and | training related to embedding employability and in-cumculum |
||||||
| efficient delivery of | delivery. | ||||||
| our mission. | Develop our systems to capture impact data. |
| I | Advocacy | Advocacy | ~ | AGCAS commentary featured'in the press. |
|||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ~ | AGCAS input, expertise, views and opinions sought by key external stakeholders |
to | |||||||||||
| inform policy (reactive and proactive). | |||||||||||||
| ~ | AGCAS-generated articles/blogs published on external |
platforms. | |||||||||||
| ~ | Increased media ceverage ef key AGCAS outputs. | ||||||||||||
| ~ | Increased number ofinvitations to collaborate with partners |
and key stakeholders | in | ||||||||||
| al'eas ofmutual interest. |
|||||||||||||
| ~ | Increased readership of Phoenix interna)ly (AGCAS members) |
and externally | (key | ||||||||||
| stakeholders). | |||||||||||||
| ~ | Increased total impressions, engagements and new followers |
on social media. | |||||||||||
| C | By | ~T~k | |||||||||||
| ~ | Continue to listen to and actively support (e.g. Chairs | meetings) | and | promote | Task | ||||||||
| Groups outputs. | |||||||||||||
| Maintain; number oftask groups and percentage of |
individual | member participation. | |||||||||||
| Improve engagement from low participating regions. |
|||||||||||||
| Balance the mission group representation on task groups. |
|||||||||||||
| I Awards | |||||||||||||
| ~ | Increase nominations compared to previous year. |
||||||||||||
| Communications | |||||||||||||
| ARENA: increase click through rate for stodes promoted. |
|||||||||||||
| ~ | Website: increase member use ofthe website. |
||||||||||||
| AGCAS Connect: members to post on AGCAS Connect |
on average | once per | month. | ||||||||||
| Learning | improved feedback rating in comparison to 2022/23. |
||||||||||||
| Training delegate's 'distance travelled' (training impact). |
|||||||||||||
| Number ofcourses delivered. | |||||||||||||
| Professional | ~ | Increased engagement with professional standards from |
external stakeholders | ||||||||||
| Standards | and | Review plans to be an apprenticeship End Point Assessment |
Organisation. | ||||||||||
| Quality | ~ | The first cohort ofMember Services have completed | 2nd round | ofMembership | Quality | ||||||||
| Standard review. |
|||||||||||||
| Professional Pathways referenced in job adverts and |
job | descriptions | in member | ||||||||||
| services. | |||||||||||||
| Research | and | ~ | Incneased media coverage ofkey AGCAS outputs. | ||||||||||
| l | Knowledge | AGcAs commentary featured in the press. |
|||||||||||
| increased number of invitations to collaborate with partners |
and key | stakeholders | in | ||||||||||
| areas of mutual interest. |
| ~ | AGCAS input, expertise, views end opinions sought by key external stakeholders |
AGCAS input, expertise, views end opinions sought by key external stakeholders |
AGCAS input, expertise, views end opinions sought by key external stakeholders |
to | ||
|---|---|---|---|---|---|---|
| inform policy (reactive and proactive). | ||||||
| ~ | AGCAS-generated articles/blogs published on external platforms. |
|||||
| ~ | Increased readership of Phoenix internally (AGCAS members) |
and externally | (key | |||
| stakeholders). | ||||||
| ~ | increased total impressions, engagements and new followers |
on social media. | ||||
| ~ | Website: increased total user/unique user hits. |
|||||
| Data Insights | ~ | Attend Graduate Outcomes Steering Group meetings. |
||||
| ~ | Hold I meeting per term with OfS, UUK. AHUA, HESPA. |
|||||
| ~ | Include at least one update per term in Heads ofService Briefing and ARENA | plus at | ||||
| least 2 member webinars per year. |
||||||
| ~ | Pulse survey of Heads ofService confidence in this area —part |
ofwider survey. | ||||
| ' | Integrating | e | Hold I meeting per term with OfS, UUK and Advance HE. |
|||
| Employebility | ~ | Include otleast one update per term in Heads ofService Brietlng and ARENA | plus at | |||
| least 2member webinars per year. | ||||||
| ~ | One presentation/article per term. |
|||||
| ~ | Pulse survey of Heads ofService confidence in this area —part |
ofwider survey). | ||||
| Social Mobility, | ~ | AGCAS members leading and influencing discussions on social mobility, widening |
||||
| Widening | participation and regional inequality and how it relates to HE student career |
|||||
| Participation | development and graduate employment within their institufion |
Staff and Other | ||||
| and Regional | Resources (Including Other Committees and Groups). |
|||||
| Inequality | ~ | Attend one social mobility etc.event per term. | ||||
| ~ | Hold I meeting per term with OfS, UUK, Yorkshire Universities, London Higher, Bridge |
|||||
| Group, Sutton Trust. | ||||||
| ~ | Include at least one update per term in Heods ofService Briiefing and ARENA | plus at | ||||
| least 2member webinars per year. |
| ~ . | ~ | ||
|---|---|---|---|
| Mare | Lintern | 07/10/2019 | President |
| IJniv | rsity oi tlewcastl | ikesigned | |
| l 4 'r29 '2022I |
| Paul Gratrick | 01/03/2017 | President | ||||||
|---|---|---|---|---|---|---|---|---|
| University of Liverpool |
||||||||
| Dr Lorna Dargan | ' 01/08/2021 | Vice-President | Nominations Committee |
|||||
| Universit of St Andrews |
Remuneratiorls Committee |
|||||||
| ' | Katy Gordon | 01/08/2021 | Treasurer and Company | Governance and Risk |
||||
| University of Southampton |
Secretara | Committee | ||||||
| Keren Coney | 03/01/2023 | Research and | Research. and Knowledge | I | ||||
| Liverpool John Moores | Knowledge | Director | Committee | |||||
| University | ||||||||
| l | Ben Cooper I'ICI 1 h. s r I'I II x 2 rill |
0 I HJ: ' '32' |
I | I'u'o Ifle el lr IJse |
||||
| , , ' ' |
ui ivetsu Debra Easter Noftin him Trent Universit Simon Thompson IJnever sity of Boltoi Gemma Kenyon City, University of London |
xir07/sn2 tI 08/03/2021 0'/12 2018 (Resigneci "))/rw/?0 r2) 01/03/2023 |
Community Academic Ioi ector Integrating Director |
Director Community Committee AIIg sment A. rderni Alrclnn enI rvcr Iflg Pcrly Employability L Integratirlg Employability Working Party |
||||
| David Winter | 01/03/2017 | Learning Director |
Learnina Committee |
|||||
| The Careers Group | IRe~igned | |||||||
| 28/02/2023) | ||||||||
| Allsa McLeod Eu 'ty |
I 20/09/2022 | Learning Director |
Learning Committee | |||||
| Helen Smith | I !31/in3/201 7 | SociaI Mob | Iiiv Director | Sociisl Mobility cn&J |
||||
| Universily of Shefheld |
(Pesignecl | vVidenlng PcJrticipcnion |
||||||
| 28/02/2023l | svorl. ing Party | |||||||
| ' | Aranee Manoharan | 01/07/2023 | Social Mobility, Widening | Social Mobility. Widening | ||||
| King's College London | Participation | and | Participation and Regianal |
|||||
| Regional Inequality |
inequality Working Party |
|||||||
| Director | ||||||||
| ' | Dr Nolayini Thambar |
01/03/2017 | Quahly Director |
Protessionolisrn Working |
||||
| ' | IJniversity of I'loltinghom |
,'(Resigned | Party | |||||
| ' 31/10/2022) | ||||||||
| ,'Uzzie Mortimer | 20/09/2022 | Professional | Standards | Professional Standards |
||||
| University of Edinburgh |
Director | Committee |
| Unrestricted | Unrestricted | |||||
|---|---|---|---|---|---|---|
| funds | funds | |||||
| 2023 | 2022 | |||||
| Note | ||||||
| Income | ||||||
| Charitable activities |
1,175,612 | 953,386 | ||||
| Investments | 5,256 | 204 | ||||
| Total income | 1,180,868 | 953,590 | ||||
| Expenditure | ||||||
| Charitable | activities | 972,344 | 681,248 | |||
| Total expenditure | 972,344 | 681,248 | ||||
| Net income | 208,524 | 272,342 | ||||
| Other recognised | gains | |||||
| Actuarial (loss( |
on | defined | ||||
| benefit scheme | (61,578) | (209,923} | ||||
| Net movement | in funds | 146,946 | 62,419 | |||
| Total funds | brought | forward | 586,111 | 523,692 | ||
| Total funds | carried | forward | 733,057 | 586,111 |
| As at 31 July 2023 | |||||
|---|---|---|---|---|---|
| 2023 | 2022 | ||||
| Note | 5 | 5 | |||
| Fixed assets | |||||
| Intangible assets |
|||||
| Tangible assets | 3,047 | 2,067 | |||
| 3,047 | 2,067 | ||||
| Current assets | |||||
| Debtors | 114,724 | 90.413 | |||
| Cash at bank and | in hand | 1.308,382 | 1,115,263 | ||
| 1,423,106 | 1,205,676 | ||||
| Creditors: amounts | falling due within one year | (259,644) | (249,758) | ||
| Net current assets | 1,163,462 | 955,918 | |||
| Total assets less current | liabilities | 1,166,509 | 957,985 | ||
| Defined benefit pension | liability | 11 | (433,452) | (371,874) | |
| Net assets | 733,057 | 586,111 | |||
| CharRy funds | |||||
| Unrestricted funds |
733,057 | 586,111 | |||
| Total funds | 12 | 733,057 | 586,111 |
| ear ended 31 Jvty 2023 | |||||
|---|---|---|---|---|---|
| Note | 2023 | 2022 | |||
| Cash flow from operating | activities | 14 | 190298 | 241 926 | |
| Cash flow from investing activities: |
|||||
| Interest receivable | 5,256 | 204 | |||
| Payments to acquire tangible fixed |
assets | 2435 | 700 | ||
| Net cash flow from investing activities |
2 82I | 496 | |||
| Net increase in cash and | cash equivalents | 193,119 | 241,430 | ||
| Cash and cash equivalents | brought | forward | |||
| Cash and cash equivalents | carried | forward |
| 2023 | 2022 | ||||
|---|---|---|---|---|---|
| 9. | |||||
| Conferences | and training | 454,552 | 317,886 | ||
| Graduate | fairs | 70,200 | 33,260 | ||
| Service Level Agreement | income | 116,742 | 103,934 | ||
| Subscriptions | 441,421 | 403,140 | |||
| Sponsorship | 8,Advertising | Income | 74,237 | 78,445 | |
| Research | 18,460 | 16,72i | |||
| t,f75612 | 953,386 |
| Net expenditure | Net expenditure | Net expenditure | forthe year and deficit of | forthe year and deficit of | income over expenditure is |
income over expenditure is |
stated after | charging: |
|---|---|---|---|---|---|---|---|---|
| 2023 | 2022 | |||||||
| f | 5 | |||||||
| Depreciation | 1,455 | 2,600 | ||||||
| Auditor's remuneration |
10,050 | 8,745 | ||||||
| Operating | lease | rentals | ||||||
| Irrecoverable | VAT | 9,895 | 2,717 | |||||
| Analysis of | expenditure | |||||||
| Direct Staff | ||||||||
| Direct | Costs and | Support | ||||||
| Cosh | Dep'n | cosfs | Total | Total | ||||
| 2023 | 2023 | 2023 | 2023 | 2022 | ||||
| 5 | 5 | 5 | 2 | F, | ||||
| Conferences | and training | 218,267 | 112651 | 120,373 | 451,291 | 250,562 | ||
| Graduate fairs |
57,391 | 29 | 4,690 | 62,110 | 30,262 | |||
| Service Level | Agreements | 1,650 | 91,d41 | 31,2dd | 124,557 | 109,382 | ||
| Subscription | s | 51,d41 | 78,1d4 | 129,805 | 117,903 | |||
| Publications | 14,697 | t2,506 | 27,203 | 26,532 | ||||
| Research | 535 | 52,780 | 25,013 | 78,328 | 79,119 | |||
| Governance | 11,539 | 30,270 | 9,380 | 51,189 | 31,752 | |||
| Other | 1d,595 | 31,2dd | 478dl | 33736 | ||||
| Total | 289,382 | 370,304 | 312,658 | 972,344 | 681,248 | |||
| Support Costs | Staff | Other Costs | ||||||
| Costs | 5 | Total | ||||||
| 5 | 5 | |||||||
| Charitable | activities | 216,996 | 95,662 | 312,658 |
| 2023 | 2022 |
|---|---|
| No. | No. |
| 14 | 13 |
| The average monthly num |
ber ofemployees duding the y |
ear was | as follows: | 2023 No. 14 |
2022 No. 1 |
|---|---|---|---|---|---|
| The number of employees |
who received total employee | benefits | (excluding | employer | pension |
| costs) ofmore than R60,000 is as follows: | |||||
| 2023 | 2022 | ||||
| No. | No. | ||||
| R70,001 - R80,000 | |||||
| R80,001 - R90,000 |
| 2023 | 2022 | ||
|---|---|---|---|
| Wages and | saladies | 450,074 | 389,855 |
| Social security costs | 42,250 | 34,632 | |
| Pension costs | 93,531 | 80,750 | |
| Movement | on USS provision | 51,723 | 209,923 |
| Total | 637,578 | 715,160 |
| Tangible fix | ed assets | |||
|---|---|---|---|---|
| Oflice and | ||||
| Fixtures and | computer | |||
| fittings | equipment | Total | ||
| 8 | 5 | |||
| Cost | ||||
| At 1 August |
2022 | 790 | 18,914 | 19,704 |
| Additions | 2,435 | 2,435 | ||
| At 31 July 2023 | 790 | 21,349 | 22,139 | |
| Depreciation | ||||
| At 1 August |
2022 | 367 | 17,270 | 17,637 |
| Charge for | the year | 79 | 1,376 | 1,455 |
| At 31 July 2023 | 446 | 18,646 | 19,092 | |
| Net book value | ||||
| At 31 July 2023 | 344 | 2,703 | 3,047 | |
| At 31 July 2023 | 423 | 1,644 | 2,067 |
| Nate | s ta the Fi | nancia | l Sta |
tements (cantinued) year ended 31 July |
2023 | |
|---|---|---|---|---|---|---|
| B. | Debtors | |||||
| 2023 | 2022 | |||||
| Trade debtors | 106,769 | 76,984 | ||||
| Prepayments | and accrued income | 7,955 | 13429 | |||
| 114,724 | 90,413 | |||||
| 9. | Creditors: | amounts | falling due within one year | |||
| 2023 | 2022 | |||||
| Trade creditors | 36,222 | 430 | ||||
| Other taxation | and | social security | 16,749 | 27,183 | ||
| Accruals | and | other | creditors | 20,738 | 23,076 | |
| Deferred | income | 185,935 | 199,069 | |||
| 259,644 | 249,758 | |||||
| 10. | Deferred | income | ||||
| 2023 | 2022 | |||||
| At I August |
199,069 | 246,244 | ||||
| Released | in year | (179,425) | (246,244) | |||
| Deferred | in year | 166.291 | ]99,069 | |||
| Balance | at 31 | July | 185,935 | 199,069 |
| Detl | ned ben | efit pension liability |
||
|---|---|---|---|---|
| 2023 | 2022 | |||
| USS | Pension | deficit | 433,452 | 371,874 |
| Balance at | Expenditure | Balance at | |||||
|---|---|---|---|---|---|---|---|
| I August | including | 31 July | |||||
| 2022 | Income | gain/(loss) | Transfer | 2023 | |||
| 5 | 5 | ||||||
| Unrestricted | |||||||
| Designated-Graduate | fairs | 36.159 | (36,159) | ||||
| General | 549,952 | 1,180,868 | (1,033,922) | 36,159 | 733,057 | ||
| Total unrestricted | funds | 586,111 | 1,180,868 | (1,033,922) | 733,057 | ||
| Total funds | 586,111 | 1,180,868 | (1,033,922) | 733,057 | |||
| Balance at | Expenditure | Balance at | |||||
| I August | including | 31 July | |||||
| 2021 | Income | gain/(loss) | Transfer | 2022 | |||
| Unrestricted | |||||||
| Designated-Graduate | fairs | 36,159 | 36,159 | ||||
| General | 487,533 | 953,590 | (891,171) | 549,952 | |||
| Total unrestricted | funds | 523,692 | 953,590 | (891,171) | 586,111 | ||
| Total funds | 523,692 | 953,590 | (891,171) | 586,ii) |
| 13. | Analysis | of ne | t assets | be | tween | funds | |||
|---|---|---|---|---|---|---|---|---|---|
| 2023 | |||||||||
| Tangible | fixed | assets | |||||||
| 3,047 | |||||||||
| Current | assets | ||||||||
| 1,423,106 | |||||||||
| Creditors due | within | one | year | (259,644) | |||||
| Defined | benefit pension | liability | ~433,432 | ||||||
| 733,057 | |||||||||
| 2022 | |||||||||
| Total | |||||||||
| Tangible | fixed | assets | |||||||
| 2,067 | |||||||||
| Current | assets | ||||||||
| 1,205,676 | |||||||||
| Creditors | due | within | one | year | |||||
| (249,758) | |||||||||
| Defined | benefit pension | liability | 371,874 | ||||||
| 586,111 | |||||||||
| 14. | Reconciliation | of net | income | to net cash flow from operating | activities | ||||
| 2023f | 2022 f, |
||||||||
| Net income for the year | 146,946 | 62419 | |||||||
| Adjustment for: |
|||||||||
| Depreciation | oftangible | fixed assets | 1,455 | 2,600 | |||||
| Interest receivable | (5,256) | (204) | |||||||
| Decrease/(increase) | in debtors | (24,311) | 54,809 | ||||||
| Increase | in creditors | 71,464 | 122,302 | ||||||
| Net cash flow | from operating | activities | 190,298 | 241.926 | |||||
| 15. | Analysis | ofcash and | cash equivalents | ||||||
| 2023f | 2022 f. |
||||||||
| Cash at | bank | and in | hand | 1,308,382 | 1,115,263 |
| The current life expectancies on retirement at age 65 |
are: |
|
|---|---|---|
| 2023 | 2022 | |
| Males currently aged 65 (years) | 24.0 | 23.9 |
| Females currently aged 65 (years) | 25.6 | 25.5 |
| Males currently aged 45 (years) | 26.0 | 25.9 |
| Females currently aged 45 (years) |
27 4 | 27.3 |
| have been p | roduced using the following assumpt |
ions: | |
|---|---|---|---|
| 2023 | 2022 | ||
| Discount rate | 4.75% | 2.65% | |
| Pensionable | salary growth | 9.30% | 2.53% |