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2023-06-30-accounts

2023 2022
Unrestrfcted
fund Total funds
5 E
INCOME AND ENDOWMENTS FROM
Donations and legacies 6,950,623 5,328,533
Other trading activities 76390 52,159
Investment
Income		 S15
Total 7,027426 5,380,704
EXPENDITURE ON
Charitable activtdas
Supporting
and promoting		 education 6,729,985 5.463,540
NET INCOME/(EXPENDITURE) 297~ (82,836)
RECONCIUATION
OF FUNDS
Total funds brought forward 728,709 811,545
TOTAt FUNDS CARRIED FORWARD ldl25,952 728,709

2023 2022
Unrestricted
fund Total funds
Notes 6
FIXEDASSETS
Tangible assets 162,121 243,182
CURRENT ASSETS
Debtors 12 359JII 21,020
Cash at bank and in hand 627A73 631,105
652.125
CREDITORS
Amounts
falling due within one year		 13 (113F470) (166,598)
ling,
NET CURRENT ASSETS 485,527
TOTAL ASSETS LESSCURRENT LIABILITIES 1,025,952 728,709
952 728,709
FUNDS
Unrestricted
funds:
Income fund 1,025,952 728,709
TOTAL FUNDS 22725,952 728,709

2023 2022
Notes 6 E
Cash Rows from operadng activities
Cash generated from operations 1 (13,947) (211,726)
Net cash used in operating activities (13,947) (211,726)
Cash Rows from investing activldes
Interest received 12
Net cash provided
by investing activities		 12
Change in cash and cash equlualents in the
reporting period (13,632) (211,714)
Cash and cash equivalents atthe beginning
ofthe reporthrg period 631,103 842,819
Cash and cash equivalents atthe end of
the repordng period 6172173 631,105

RECONOLI ATION OF NET INCOME/(EXPENDITURE) RECONOLI ATION OF NET INCOME/(EXPENDITURE) RECONOLI ATION OF NET INCOME/(EXPENDITURE) TO NET CASH FLOW FROM OPERATING ACf IVITIES
2023 2022
E E
Net income/(eupendlture) forthe reporting period (asper the
Statement ofRnandal Activides) (82.836)
Adjustments
for:
Depreciation
charges		 82/XIL 81,061
Interest received (315) (12)
(Increase)/decrease in debtors (3382XXI) 15,730
Decrease in creditors (38,128) (225,669)
Net cash used In operations (13„rnt7) (211,726)
2. ANALYSIS OF CHANGES IN NET FUNDS
At 1P/22 Cash flaw At30/6/23
E 6 E
Net cash
Cash at bank and in hand 631,105 (23/)32) 617~73
631,105 (13,632) 617/73
631,105 (13,632) 617873

3. DONATIONS AND LEGAOES
2023 2022
Unrestricted
funds Total funds
5 5
Grants - Syracuse University Abroad, a
division ofSyracuse University, New York,
USA 6,922350 5,272,500
Government grant 27.855
Donation received 4pBS
Intangible
income - legal fees
Syracuse University
Abroad		 paid by 28,178
6,950.623 5,328,533
4. OTHER TRADING ACTIVmES
2023 2022
Unrestricted
funds Totalfunds
5 E
Rental income 76QSO 52,159
5. INVESTMENT INCOME
2023 2022
Unrestricted
funds Total funds
6 f
Deposit account interest 315 12

Provision of
student
Promodng accomodation
education 8fedBtles 2023
6 f. E
Wages and related costs 714,370 714,370
Pmperty expenses 615,146 615,146
Course materials
Housing allowance		 121,836 2,546,113 1222136
2~,11$
Student activities and recreation 492,218 492328
Grant paid 4,085
1.455,437 3,038,331 489$.768
Support costs (Seebelow) 689,897 1,440,210 2,1$0,107
Governance costs (Seebelow) 34,367 71,743 106,110
2,179,701 4~0,284 6,729,985
Governance Total
Support costs costs 2023 Basisofapportionment
f. 6 6
Wages and related costs 841,372 841,372 -Allocated by department
Property expenses 1.190.699 1,190,699 -Pro rata based on sq meters
Ofhce expenses 45,331 45,331 -The expenses incurred were
mnsidered tobe support
costs
ITexpenses 5,120 5,120 -The expenses incurred
were considered tobe
support costs
Membership and registration 1,423 1,423 -The expenses incurred were
considered to be support
costs
Travel, subsistence and 42,407 42,407 -The expenses incurred were
meeting costs considered tobesupport
costs
Bank charges 3,755 3,755 -The expenses Incurred were
mnsidered to besupport
costs
legal fees 88,110 88,110 Wovemance
Auditors remuneration 18,000 -Governance
2,130,107 106,110 2,236,217

Provision af
studeiit
Promoting accomadatlon B
educa50n facRMes 2022
Wages and related costs f
832,007		 f f8~7
Property expenses 531,774 531,774
Course materials 78,497 78r497
Housing allowance 1,630,049 1ASOAHS
Student activities and recreation 387,531 387,537
Grant paid
1.442,278 2017586 3~F4
Support costs (Seebelow) 814,335 1,139,163 1,953~
Governance
costs (Seebelaw)		 20,917 29,261 50,178
2,277,530 3,186,010 Srt63,540
Governance
Support
f		 casts costsf Total 2022
E		 Basis ofapportionment
Wages and related costs 796,669 796.669 -Allocated by department
Property expenses 1,064,248 1,064,24S -Pro rata based on sq meter
Office expenses 55,601 55,601 -The expenses incurred were
considered to be support casts
ITexpenses 3,311 3,317 -The expenses incurred were
considered to be support mats
Membership
and registration		 6,659 6,659 -The expenses incurred were
considered to be support costs
Travel, subsistence and 25,701 25,701 -The expenses incurred were
meeting costs mnsidered tobe support costs
Bank charges 1,303 1,303 -The expensesincurred
were
considered to be support costs
legal fees 28,178 28,178 43overnance
Auditors
remuneration		 22,000 22,000 4bnrernance
1,953,498 50,178 2,003,676

GRANTS PAYABLE
2023 2022
E E
Supporting
and pmmoting		 education 4,085
The total grants paid to institutions duding the year was asfollows:
2023 2022
6 E
Syracuse University 4dNS
NET INCOME/(EXPENDITURE)
Net income/(expenditure) isstated after charging/(crediting):
207$ 2022
E
Auditors' remuneration 22,000
Depreciation - owned assets 82j061 81,061
Hire ofplant and machinery 82$N 9,163
Operating leases - Rent M07,832 1.039.121

was:
2023 2022
E80,001 - E90,000 2 2
The faculty staff are employed on part time short term contracts each semester.
Ag administration staff, apart from 3,are employed on full time basis.
Pension
costs are		 allocated to activities in proportion
to the related		 stafgng costs incurred and on this
ba
the costs are treated as support costs and are wholly charged to unrestdcted funds.
11. TANGIRLE FIXEDASSETS
Fixtures
long and Computer
leasehold
E		 Ettings
E		 equipment
E		 Totalsf
COST
At 1July 2022 and 30June 2023 1,7427)09 528/32 2r406,933
DEPRECATION
At1July 2022 1499,627 1$52I92 528~2 2,163,751
Charge foryear 812RI1 812XIL
At 30June 2023 135~ 528,2$2 2,244412
NET ROOK VALUE
At 30June 2023 264121 162,121
At 30June 2022 243,182 243,182
12. DERTORSr AMOUNTS FALUNG DUE WITHIN ONE YEAR
202$ 2022
E E
Other debtors
Prepayments
and accrued income		 362
359~		 21,020
3592I28 21,020

2023 2022
E
Social security and other taxes 25,799 46,253
Other creditors 21,725 51,592
Accruals and deferred income 66,753
113JL70 166,598
14. LEASING AGREEMENTS
Minimum
lease payments		 under norvcanceEable operating leases tall due as follows:
2023 2022
6 E
Within one year SWLJ000 1,030,000
Between one and five years 1301AND 2,060,000
1S. MOVEMENT IN FUNDS
Net
movement
At 1/7/22 in funds At 30/6/23
E E E
Un esbicted funds
Income fund 728,709 297343 LdN5,952
TOTAL FUNDS 728,709 297~3 1/I25,952
Net movement
in funds,		 included in the above are as follows:
Incoming Resources Movement
resources expended in funds
6 6 E
Unrestricted funds
Income fund Tdy27428 (6,729,985)
TOTAL FUNDS Tg27428 (6,729'5)

Net
movement
At 1/7/21 in funds At 30/6/22
E E E
Unrestrkted funds
Income fund 811,545 (82,836) 728,709
TOTAL FUNDS 811' (82,836) 72IL709
Comparative net movement in funds, included inthe above are asfollows:
Incoming Resources Movement
resources expended in funds
E E 6
Unrestdcted funds
Income fund 5,380,704 (5,463,540) (82,836)
TOTAL FUNDS 5,3S0,704 (5,463,540) (82,836)