**Charity number: 1090141**
## **The UK Friends of the University of Auckland**
## **Unaudited**
**Trustees' Report and Financial Statements**
**For the Year Ended 5 April 2022**
**The UK Friends of the University of Auckland**
## **Contents**
||Page|
|---|---|
|**Reference and Administrative Details of the Charity, its Trustees and Advisers**|1|
|**Trustees' Report**|2 - 4|
|**Independent Examiner's Report**|5|
|**Statement of Financial Activities**|6|
|**Balance Sheet**|7|
|**Notes to the Financial Statements**|8 - 15|
**The UK Friends of the University of Auckland**
## **Reference and Administrative Details of the Charity, its Trustees and Advisers For the Year Ended 5 April 2022**
## **Trustees**
Mr Eric Tracey, Chair Ms Louise Chunn Professor Janice Rymer Mr Robert Whitehouse Mr Michael Butler Lady Rosemary Buchanan Mr Jon Vollemaere Mr Seth Rankin (appointed 8 June 2021) Mrs Natalie Baragwanath Ms Colleen Toomey Mr Matthew Barrett (appointed 28 September 2022)
## **Charity registered number**
1090141
## **Principal office**
c/o Chapel and York, Unit 12, Ladycross Business Park, Hollow Lane, Dormansland, Lingfield, Surrey, RH7 6PB
## **Accountants and independent examiner**
Kreston Reeves LLP, 9 Donnington Park, 85 Birdham Road, Chichester, West Sussex, PO20 7AJ
## **Bankers**
LLoyds TSB Bank plc, 2nd Floor, 39 Threadneedle Street, London, EC2R 8AU
## **Solicitors**
Bircham Dyson Bell, 50 Broadway, Westminster, London, SW1H 0BL
Page 1
**The UK Friends of the University of Auckland**
## **Trustees' Report For the Year Ended 5 April 2022**
The Trustees present their annual report together with the financial statements of the charity for the year 6 April 2021 to 5 April 2022.
The Trustees confirm that the Annual Report and financial statements of the charity comply with the current statutory requirements, the requirements of the governing document and the provisions of the Statement of Recommended Practice (SORP), applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).
## **Objectives and activities**
## **a. Policies and objectives**
The main activity centred on soliciting and receiving pledge payments and matching gifts intended to assist with student scholarships, academic fellowships and academic research.
The trustees granted £266,545 (2021: £80,650) to support scholarships and fellowships at the University of Auckland.
## **b. Strategies for achieving objectives**
In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit, including the guidance 'Public benefit: running a charity (PB2)'. In particular the Friends had charitable purposes for the public benefit in the year ending 5 April 2022 because:
i) They support the advancement of education in general and the activities of The University of Auckland, a tertiary educational institution, in particular;
ii) The benefits to the public are clear and include the education of students and the free dissemination of research results;
iii) These benefits are related to the aims of the Friends (which include the "advancement and promotion of education");
iv) There are no obvious detriments or harms resulting from the activities of the educational institutions that Friends support, which activities include educating students, conducting research under rigorous and commonly accepted research protocols and constructing facilities under the relevant local or national building and environmental codes;
v) The ultimate beneficiaries (students who attend the educational institutions, staff who carry out academic research there) are appropriate to the aims of the Friends;
vi) The educational institutions that Friends support are open to all who meet their academic standards, regardless of the student's country of origin, religion, ethnicity or gender;
vii) The educational institutions that Friends support offer significant support to people in poverty who meet their academic standards, including scholarships based on need which in addition to loans and direct governmental grants give people in poverty the opportunity to attend as students, furthermore their research results are normally available to be perused by, or applied for the benefit of, members of the public regardless of their socioeconomic status, and they offer public lectures on a regular basis at no charge;
viii) Any private benefits that might accrue are incidental.
Page 2
**The UK Friends of the University of Auckland**
**Trustees' Report (continued) For the Year Ended 5 April 2022**
## **Achievements and performance**
## **a. Review of activities**
Total incoming resources for the year were £201,333 (2021: £143,785). The principal funding sources came from bequests and gifts from graduates and friends of the University of Auckland. The Trustees intend to continue to encourage gifts and bequests from graduates and friends of the University of Auckland by means of personal approaches, general communications and special events.
## **Financial review**
## **a. Going concern**
After making appropriate enquiries, the Trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the accounting policies.
## **b. Reserves policy**
The Trustees consider that the objects of the charity are best met by keeping reserves as low as possible by maximising grants to the University of Auckland Foundation as soon as practically possible and generally at least twice a year, hence a formal reserves policy is not currently required.
At the year end the charity had total funds of £42,774 (2021: £115,152), of which £470 (2021: £64,220) were restricted funds. The free reserves of the charity are equal to the unrestricted funds which were £42,304 (2021: £50,932) at the balance sheet date.
## **Structure, governance and management**
## **a. Constitution**
The UK Friends of the University of Auckland is a registered charity, number 1090141, and is constituted under a Trust deed. The charity was registered on 2 August 2001 and commenced trading on 17 January 2002. The principal object of the charity is to provide the advancement and promotion of education and in particular any educational and charitable purposes connected with The University of Auckland in New Zealand.
## **b. Methods of appointment or election of Trustees**
The Trustees of the UK Friends of the University of Auckland are appointed by unanimous resolution of the trustees. The Trustees appointed in this way are appointed for a term of 2 years.
## **c. Organisational structure and decision-making policies**
The Trustees meet twice per year and oversee the management of the charity. Day to day operations were undertaken in part by the Trust's Executive Manager who is remunerated by the University of Auckland and in part by Chapel & York Limited.
The Trustees who served in the year and subsequently are set out in the legal and administrative information section at the front of this report.
## **d. Administration and governance costs**
All fundraising, administration and governance costs are met by the University of Auckland.
Page 3
Th• UK Frf•nd• of th• Unlv•rnity of Auckland
Trustees. Report (contlnu•dl
For th• Year Ended S April 2022
&amo1)È of i N¥i008 r8spon8iDllltlas
The Trustees are responsible for preparing the Trustees, Report and the financial statements in accordanco wlh
applicable law and United Kingdom Accounting Stsndards (United Kingdom Ge[allY Acwled AUnting
Practi)
-. he law applicab to chanb.es in England & Wales requi the Trustees to prepare financial stslements for
each financial which give a true and fair view of the stste of affaifs of the charity and of its incoming sOurceS
and application of resources. including ils income and expenditure. for that period. In preparing these financial
statements. the Twstees a required lo..
select suitable aceounling policies and then apply them consistently..
observe the methods and principles of the Charities SORP IFRS 102),.
make judgments and accounting estimates that are reasonable and prudent..
state whether applicable UK Accounting Standards {FRS 1021 have been followed. subject to any material
departures disclosed and explained in the financial ststemenls..
prepare the financi81 statements on the going eoncem basis unless it is inappropriate lo presume that the
charity will continue in business.
The Trustees are responsible for keeping adequate aceounts.ng records that are suffioent to show and explain
the charitls transactions and disclose with reasonable accuraw at any lime the financial posilw)n of the charity
and enable them to ensure that the finaneial statements comply with the Charitses Act 2011, ihe Charity
(AOUnts arml Reports) Reguktions 2008 and the provisions of the Trust deed. 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 irregul81ities.
Approved by order of the members of the t*)ard of Trustees and signed on their behalf by:
Mr Erl¢ Tra¢•y
Chair of Trustees
Date..
Page 4
**The UK Friends of the University of Auckland**
## **Independent Examiner's Report**
## **For the Year Ended 5 April 2022**
## **Independent Examiner's Report to the Trustees of The UK Friends of the University of Auckland ('the charity')**
I report to the charity Trustees on my examination of the accounts of the charity for the year ended 5 April 2022.
## **Responsibilities and Basis of Report**
As the Trustees of the charity you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the 2011 Act').
I report in respect of my examination of the charity's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
## **Independent Examiner's Statement**
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
1. accounting records were not kept in respect of the charity as required by section 130 of the 2011 Act; or
2. the accounts do not accord with those records; or
3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a 'true and fair' view which is not a matter considered as part of an independent examination.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
This report is made solely to the charity's Trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state to the charity's Trustees those matters I am required to state to them in an Independent Examiner's Report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the charity and the charity's Trustees as a body, for my work or for this report.
Signed: Lucy Hammond, BSc FCA
> Dated: 30 January 2023
## **Kreston Reeves LLP**
Chartered Accountants 9 Donnington Park 85 Birdham Road Chichester West Sussex PO20 7AJ
Page 5
**The UK Friends of the University of Auckland**
## **Statement of financial activities For the Year Ended 5 April 2022**
|**Note**
**Income from:**
Donations and legacies
2
Other income
3
**Total income**
**Expenditure on:**
Charitable activities
4
**Total expenditure**
**Net movement in funds**
**Reconciliation of funds:**
Total funds brought forward
Net movement in funds
**Total funds carried forward**|**Unrestricted**
**funds**
**2022**
**£**
**201,332**
**1**
**201,333**
**209,961**
**209,961**
**(8,628)**
**50,932**
**(8,628)**
**42,304**|**Restricted**
**funds**
**2022**
**£**
**-**
**-**
**-**
**63,750**
**63,750**
**(63,750)**
**64,220**
**(63,750)**
**470**|**Total**
**funds**
**2022**
**£**
**201,332**
**1**
**201,333**
**273,711**
**273,711**
**(72,378)**
**115,152**
**(72,378)**
**42,774**|As restated
Total
funds
2021
£
143,785
-|
|---|---|---|---|---|
|||||143,785|
|||||86,790|
|||||86,790|
|||||56,995|
|||||58,157
56,995|
|||||115,152|
The Statement of Financial Activities includes all gains and losses recognised in the year.
The notes on pages 8 to 15 form part of these financial statements.
Page 6
Th• UK Frf•nd• ol th• Unlvgrnlty ol Auckland
Balan¢& Sh•et
A8 at 5 Aprll 2022
2022
2021
Nol•
CumDt •wts
Oeblo
Cash at tAnk arKI in hand
21
42,753
1,266
124.336
42.774
125.602
Credito. amounts falling due within one
(10,450)
Net Current assets
42,774
115.152
T¢)tal not a$s•ts
42,774
115.152
Charlty funds
Restricted funds
Unfeslricted fijnds
64,220
50.932
11
11
470
42,304
42,774
115.152
Total fvnds
The finarKial ststements were approved and authorised for issue by the Trustees and signed on Iheir behalf by:
Mr Erk Tra¢
Chair of T stees
Dale..
notes on p•Jo$ 8 to 15 fomi part of these financTr81 swements.
**The UK Friends of the University of Auckland**
**Notes to the Financial Statements For the Year Ended 5 April 2022**
## **1. Accounting policies**
## **1.1 Basis of preparation of financial statements**
The financial statements have been prepared in accordance with the Charities SORP (FRS 102) - Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.
The UK Friends of the University of Auckland meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.
## **1.2 Going concern**
The charity is able to amend its grant giving activities as appropriate to match the income received and on this basis the Trustees have a reasonable expectation that the charity will continue in operational existence for the foreseeable future. The financial statements have therefore been prepared on a going concern basis.
## **1.3 Income**
All income is recognised once the charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.
Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
## **1.4 Expenditure**
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources.
Expenditure on charitable activities is incurred on directly undertaking the activities which further the charity's objectives, as well as any associated support costs.
Grants payable are charged in the year when the offer is made except in those cases where the offer is conditional, such grants being recognised as expenditure when the conditions attaching are fulfilled. Grants offered subject to conditions which have not been met at the year end are noted as a commitment, but not accrued as expenditure.
## **1.5 Debtors**
Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
## **1.6 Cash at bank and in hand**
Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
Page 8
**The UK Friends of the University of Auckland**
**Notes to the Financial Statements For the Year Ended 5 April 2022**
## **1. Accounting policies (continued)**
## **1.7 Liabilities**
Liabilities are recognised when there is an obligation at the Balance Sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.
Liabilities are recognised at the amount that the charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.
## **1.8 Financial instruments**
The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.
## **1.9 Fund accounting**
General funds are unrestricted funds which are 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.
Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the charity for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.
Page 9
**The UK Friends of the University of Auckland**
## **Notes to the Financial Statements For the Year Ended 5 April 2022**
**2. Income from donations and legacies**
|Donations
Donations
**3.**
**Other incoming resources**
Interest receivable
**4.**
**Analysis of expenditure on charitable activities**
**Summary by fund type**
Supporting students
Supporting students|**Unrestricted**
**funds**
**2022**
**£**
201,332
As restated
Unrestricted
funds
2021
£
80,035
**Unrestricted**
**funds**
**2022**
**£**
1
**Unrestricted**
**funds**
**2022**
**£**
209,961
As restated
Unrestricted
funds
2021
£
74,590|**Restricted**
**funds**
**2022**
**£**
-
Restricted
funds
2021
£
63,750
**Total**
**funds**
**2022**
**£**
**1**
**Restricted**
**funds**
**2022**
**£**
63,750
Restricted
funds
2021
£
12,200|**Total**
**funds**
**2022**
**£**
**201,332**|
|---|---|---|---|
||||As restated
Total
funds
2021
£
143,785|
||||Total
funds
2021
£
-|
||||**Total**
**2022**
**£**
**273,711**|
||||As restated
Total
2021
£
86,790|
Page 10
**The UK Friends of the University of Auckland**
**Notes to the Financial Statements For the Year Ended 5 April 2022**
## **5. Analysis of grants**
|**Grants to**
**Institutions**
**2022**
**£**
Supporting students
266,545
Grants to
Institutions
2021
£
Supporting students
80,650
Grants made during the year to the University of Auckland Foundation greater than £5,000
**2022**
**£**
Ocular Surface Research
**170,000**
Eric Tracey Fellowship in Infectious Diseases Research
**63,750**
Mokaraka Maori Scholarship
**12,550**
Art Scholarship (Brook)
**6,250**
Law Alumni Scholarship
**5,000**
Economics Master Scholarship
**-**
**257,550**
Other grants to institutions
**8,995**
**266,545**|**Total**
**funds**
**2022**
**£**
**266,545**|
|---|---|
||Total
funds
2021
£
80,650|
||2021
£
57,000
12,200
-
-
-
6,250|
||75,450
5,200|
|||
||80,650|
Grants to institutions comprises expenditure of £63,750 (2021: £12,200) from restricted funds and £202,795 (2021: £68,450) from unrestricted funds.
Page 11
**The UK Friends of the University of Auckland**
## **Notes to the Financial Statements For the Year Ended 5 April 2022**
## **6. Analysis of expenditure by activities**
|Supporting students
Supporting students
**Analysis of support costs**
Bank charges and other fees
Legal fees
Admin fees
Bank charges and other fees
Legal fees
Admin fees|**Grant**
**funding of**
**activities**
**2022**
**£**
266,545
Grant
funding of
activities
2021
£
80,650|**Support**
**costs**
**2022**
**£**
7,166
As restated
Support
costs
2021
£
6,140
**Activities**
**2022**
**£**
131
35
7,000
7,166
As restated
Activities
2021
£
105
35
6,000
6,140|**Total**
**funds**
**2022**
**£**
**273,711**|
|---|---|---|---|
||||As restated
Total
funds
2021
£
86,790|
||||**Total**
**funds**
**2022**
**£**
**131**
**35**
**7,000**|
||||**7,166**|
||||As restated
Total
funds
2021
£
105
35
6,000|
||||6,140|
The charity's independent examination fee is paid for by Chapel & York Ltd who recover the costs from The University of Auckland, see note 13.
Page 12
**The UK Friends of the University of Auckland**
## **Notes to the Financial Statements For the Year Ended 5 April 2022**
## **7. Trustees' remuneration and expenses**
During the year, no Trustees received any remuneration or other benefits (2021 - £NIL).
During the year ended 5 April 2022, no Trustee expenses have been incurred (2021 - £NIL).
## **8. Debtors**
||**2022**|2021|
|---|---|---|
||**£**|£|
|Other debtors|**21**|1,266|
## **9. Creditors: Amounts falling due within one year**
||**2022**|2021|
|---|---|---|
||**£**|£|
|Grants accrued - institutional|**-**|10,450|
## **10. Prior year adjustments**
The financial statements have been amended to recognise donated administrative services of £6,000 as income and expenditure (see note 13 for further information). This has had £nil impact on both the overall movement in funds and the total funds as at 5 April 2021.
Page 13
**The UK Friends of the University of Auckland**
**Notes to the Financial Statements For the Year Ended 5 April 2022**
## **11. Statement of funds**
## **Statement of funds - current year**
|**Balance at 6**
**April 2021**
**£**
**Income**
**£**
**Unrestricted funds**
General Funds
**50,932**
**194,333**
**Restricted funds**
Eric Tracey Fellowship in Infectious diseases
research
**64,220**
**-**
**Total of funds**
**115,152**
**194,333**
**Restricted Funds**
Eric Tracey - academic fellowship in infectious diseases research.
**Statement of funds - prior year**
Balance at
1 April 2020
£
Income
£
**Unrestricted funds**
General Funds
45,487
74,035
**Restricted funds**
Eric Tracey Fellowship in Infectious diseases
research
12,670
63,750
**Total of funds**
58,157
137,785|**Expenditure**
**£**
**(202,961)**
**(63,750)**
**(266,711)**
Expenditure
£
(68,590)
(12,200)
(80,790)|**Balance at 5**
**April 2022**
**£**
**42,304**|
|---|---|---|
|||**470**|
|||**42,774**|
|||Balance at
5 April 2021
£
50,932|
|||64,220|
|||115,152|
Page 14
**The UK Friends of the University of Auckland**
## **Notes to the Financial Statements For the Year Ended 5 April 2022**
## **12. Analysis of net assets between funds**
## **Analysis of net assets between funds - current year**
|**Unrestricted**
**funds**
**2022**
**£**
Debtors
21
Cash at bank and in hand
42,283
**Total**
42,304|**Restricted**
**funds**
**2022**
**£**
-
470
470|**Total**
**funds**
**2022**
**£**
**21**
**42,753**|
|---|---|---|
|||**42,774**|
## **Analysis of net assets between funds - prior year**
|Debtors
Cash at bank and in hand
Creditors due within one year
**Total**|Unrestricted
funds
2021
£
1,266
60,116
(10,450)
50,932|Restricted
funds
2021
£
-
64,220
-
64,220|Total
funds
2021
£
1,266
124,336
(10,450)|
|---|---|---|---|
||||115,152|
## **13. Related party transactions**
The University of Auckland has agreed that it will meet the costs and disbursements of an administrative service provided by Chapel & York Ltd including accounts preparation and independent examination. During the year ended 5 April 2022 the University paid £7,000 (2021 - £6,000) to Chapel & York Ltd including £2,000 (2021 - £1,500) to the Independent Examiner.
In addition the University has also paid for the services of a fundraiser to encourage donations to be made to the charity.
During the year Eric Tracey, a charity trustee and the chair of trustees, donated £nil (2021 - £51,000) (excluding gift aid) to the charity towards a Fellowship in Infectious diseases research.
Page 15