EAC22 08 For tbe meeting of Ihe Academic Council on 25 May 2022 Compy4n) Registratioll Number: 04639157 Cbarity Number 1105477 THE EUROPAEUM (A Company limited by guarantee) FINANCIAL STATEMENTS 31 December 2021
THE EUROPAEUM FINANCIAL STATEMErfrs YEAR Ef4DED 31 December2021 CoDtents Pages Member5 of the Board and professiortal advisers Trustees, Annual Report Statement of Trustees responsibilities IDdepend¢nt examinerfs report StateTTrent of FirtaT]cial Actiyaties {incorIting the incotne and expenditure account) Balance sheet 2104 Notes to the finaDcial statements 9t012
THE EUROPAEUM MEMBERS OF THE BOARD AND PROFESSIONAL ADVISERS Registsred eharity llame The Europaeum Cbarity number 1105177 CompA Thy registrntiott Dllmber 046i9157 Registered offiee Belsyre Court 151 Floor 57 Woodstock Road Oxford OX2 6HJ Trustees Directors Lord (Christopher Frdn¢is} Patt¢n of Barnes (Chair) Professor José Manuel Bamso Professor Sally Mapstone Baroness (Margaret) Jay of Paddington Dr Andrew GTaham Andtienne d'Arenberg Laurd Nordstrom CoMnY Seeretary t>r Hartmut Mayer Independent examiners Burdett King Accountsocy Limityj Chartered Certified Accountant 8 The Hamilthns Newtjwket CB8 ONF Bankers CAF Bank 25 Kings Hill Avenue West Mailing Kent ME194JQ Page l of 12
THE EUROPAEUM TRUSTEES ANNUAL REPORT YEAR ENDED 31 December 2021 The Trustee& who are also dire¢tors for the purposes of compatty law. preseni their rqxyrt and th¢ financial statements of the charity for the year ended December 2021. Reference ond adntiDistr#ttYe detsiLs Rcferenee and athninistrative detsils are shown in the schedule of members of the board and professional advisers on page l of the financial statements. The Trllstees The Trustee5 who setved the chartty during the peri(xl were as follow5: Lord (Christopher Frdncis) Patten of Bames (Chair) Professor Jose Manuel Barr050 ProfeOr Phillipe BurrÈn- restgned November2021 Dr Erhard Busek Andrienne d'Arenberg Dr Andrew Graham Baronesg (Margaret) Jay of Paddingt Pascal Lalny Professor Sally Mapston¢ Laurd Nordstrom H. E. Karel Schwarzenberg Professor Carel Stolker- reSied November2021 Professor Tomas Zima Person of Significant Ci)ntrol.. Dr HartrllLEt Mayer (Executive Chair of the Academic CouDcil and the Executive Committee) Strneknre. Governance alld Management The charttable compally is incorFx)rated as a tornpany lirnired by guarantee having no thare capital aniL in accordance with the Metnorandum Articles of Assoclation, every memttr 15 liable to contribute a sum of £1 in the event of the company beillg wound up. The Trnstees aTe apwillted either as heads of the rnember Universittes or &s Co-opted mernbers. The boaxd keq the skill requirements for the In)siee under revtew. The TnEstees meet during the year to wee and review broad strateg. to monitor pasi activities. io agree areas of activty for th¢ organisation, including risk manageTnent Wplicies and rforace. and Lo 5¢ek additional fundino In addition. the Chair of the Trusiees is in frequent electronic ¢onthct with the Executive ChaTr and with the Director, and members are also Consulted regularly to review major operational policy changes and to supm the Dire¢tor in any signifi¢ani administration WOTk or challges in the work of the trust. The Executive Chair and the Director are Present at all board meetings. while the nominated rectors (or representatives) are oificio meEnbers of the Eun)paeum Academic Council. which over5ecs acadelnic policy matters for the Association. Risk rnanagemellt The Charity Trustees have considered the major risks to which the charitv i5 exposed and have reviewed those risks and established systems and procedures to manage thos¢ risks. Pagc 2 of 12
THE EUROPAEUM TRUSTEES ANNUAL REPORT YEAR ENDED31 December2021 Objeetives and aetivitiey The company is a registered chariry estsblished for the advancement of education through the encourdgernent of European studi¢5 in univ¢rsities. The Europaeum was founded in 1992 as an a¥socia(ion of European universities. Over tirne. its activitie5 have expanded to ellcompass teaching, research, scholarships and grdnts, conferences and publishino The Europaeum's mis5iOll IS to give the ta]enÉe( most energetic and most wially committed students within the Europaeum network the opportunities to develop professional qualities to shape the future of Europe for the bener. To promote excellence bettveen th¢ Ellrop partners, through a¢ademic c4)llaration in r¢s¢arch and teaching. To act as an open academic network lÉllkiDg the Europaeum partDers alld other bodies in the pursuit of study; To serve as a resourc¢ for the general sUrt and promotion of European sdieS. To fiction independently in the search for new ideas. To provide opportunities for the joint undertaking of new. pan-European, initi*ives; To provide a'pool of ialenl, 10 carry out research and IquIry into probleTns w]d questions wnfronting Europe today and tomorrow" To ¥rain and edutr 'future leaders. for a new Euro. Europ8eum programmes include research proje¢ts. annual conferences and graduate 5ununer schools and workshop5, lectures, joint teaching pr0Me& public debates. Staff mobility stheTDes, linked scholarship schemes, a professional skills traÉning progÈwnme for selected PhD SDJdents and developing a platforni for knowledge excbange. In recent years. tbe Europaeum has structured its adivrti¢s around three themes: F.uropean History & Culture European Policy-making Europeon Liberal Democracy & Citizell EngageTneDt chitvements and perform4nee AetiYitie5: During this fmancial year the Europaeum organised or supFrf)rred the following evertts: Classics Colloquium- Metabole: Crisis and Tran$formalioTr in Antiquity 25-27 November l Madrid Estoril Political Forum 2021- OB the 80th ADnivers8ry of the Atlantie Charter: Structsring a New Alli#Rce of Democracies 18-?O Ociober | Estoril, Portugal 29th International Meeting in Political Stsdie5, organised by the knstimto de Estudos Pollticos, Lisbon Crisis as an opportunity for Europe?(eonference) 1-3 October ?0? I Venue". Real Fundacion de Toledo Pl. de Victorio Macho, Toledo Surnmer School- Imagining Eurnpe: Migration, Borders and the (Re) Making of 'Europe' 9-14 Augusi 2021 | online MA EuropeaB History & Civilisalaon (seminar series) 4May-15June2021 Venue: F.aculry of Hiswry. Oxford Page 3 of 12
. THE EUROPAEUM TRUSTEES ANNUAL REPORT YEAR ENDED 31 Deeember 2021 Spring School- Europe in the World- tbe World itt Europe 22-24 April 2021 oRline .Classies Colloquium- Slavery: Antiquity 8Dd Modernity in Dialogue 11-12 February 2021 | online Brussels Policv-making Strninar 28-29 January 2021 i online Europaeum Scholars Programme {tohort 2): Module 4 Online | 22- 26 March 2021 Rule of Law in Europe Followed by short woKkshops in April with leading professiollals from industy for th¢ group working on transition within the autiTrmotive indu5ty. Module 5 7-11 Julle2021 Global Governance Module 6 August 2021 A module predominantly focussing on Imishino the two pe policy brief and 51N)O word policy reFon. Scholars also received media training from Engagillg Commullications. Final coferenCe & project presentations 1-3 October 2021 Toledo, Spain & online Scholars Presented their policy recommendations first to the assessors Ben Hall (FiE]an¢ial Times) Maria Joao Rodriuues (FEPS) and Anthony Teathle (DG EPRS) and then lo a broader audienee of academic5, policy makers and other stakeholders who atnded hybrid confrrence on CTi5iS as an Opportunity for Europe. Sorne additional meetings and preSentstiontrainIng se55ions were held between UleS. Individual lectLtres {online) between modules. plus project work with Teathing Fellows. Pag¢ 4 of 12
THE EUROPAEUM TRUSTEES AMYUAL REPORT ' YEAR ENDED 31 December 2021 FiEvdThci81 r¢view The surplus for the year of £44.51M as shown the reserves at the year en¢1 has again been contributed to by benefactors. The Trnstees ar¢ satisfied that the Chanty h&5 ad¢quate resources to continue in operational existence for the foreseeable fubjre. Reserves policy The Trustees aim to maintsin free reserves in unrestrictrd fi]Dds at a level that provides sufficient fvnds to cover management and athnini5trdtion and sUprt costs and will allow th¢ charity to resFM)nd to any emergency funding reqUireentS which may arise from t]e lo I]e. Colltillgencies policy The Trustees have ac¢¢ss to pledges which allows US to feel confident we can meet our creditors and obligations and if ne¢es5ary respond to any emergency funding requirements which may arise from time io t£]ne. The reserves of the charity are utilised going forward forthe daity requirement and coBllnitmeDts of the charity. Small company provisions This report b&s been prepar1 in accordance wÉth the sma]I companies regime under the Companies Act 2006. SI)ed by order of the Trustee5 2022 Lord {Christopher Francis) Patten of Barnes Chair of the Board of Trustees Page 5 of 12
THE EUROPAEUM STATEMENT OF TRUSTEES. RESPOf4SIBILITIES YEAR ENDED 31 December 2021 The Trustees are reSnsIble for preparing the ADDual Rqkn and the financial statements in accordance with applicable law and regulatiolls. Law applicable to charities in Enoland and Wale% requires the Trustees to prepare finallcial sL*ements for edch rjnancial pertod. Under thai law. the TnJstce5 have elected to prepare the finzncial ststements sn accotdance with Untted Kingdorn Generally Accepted Accounting Practice (United Kingdom Accounting Stan(Jards and applicable law). The financial statements are requtred bv law to give a twe and fair view of the state of affairs of the charity and of the surplus or deficit of the chari for that perifyl. in preparing those fiDaDcial staternent& the Trustees are required to: select suitable accounting policies and then apply them consistelltlv; rnake judgements and estimates that are reasonable and prudent.. prepare the financial stkt¢ments on the going toncem basis unless it is inappropriate to presume that the charity will continue its activities. The Trustees are responsible for kttping proper accounting records which disclose with reasonable accuracy at any t]e the finaneial position of the charjty and to enable them io ensure that the fanCial ststements comply with ihe Charities Act 2011 and the Charities {Ac¢ounts and Repons) RegulatiOll5 2(I08. The Ttee5 are also reswnsible for safeguarding the assets of the charity and hence for raking reasollable steps for the preventio d detectton of fraud and other irregularities. As directOT% the Trustees acknowledge their trsEx>nsibilities for. (i) ensuying that the compally keeps prow a¢couTrting records which cop]V with the Companies Act 2(K)6.. and (li) prepartllg accounts which give a true and fair view of the stale of affairs of the company as at the end of the fancial period and of its profit or loss for the financial perÉod i]2 acc4)rdance with the TequireEnents of the Colnpanies Act 2006, and which otherwise colnpty with the requirernents of thi5 Act relattng to accounts. so far as applicable to the Company. Page 6 of 12
THE EUROPAEUM IIWEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE EUROPAEUM YEAR ENDED 31 December 2021 Respective reswnsibilities of the Trustees aDd e]ner The charty,$ Trustees consider that an audit is not requiFcd forthis peri under section 144 of the Charities Act 2011 aud that an independent examtnation is neede It is my responsiThility Èo= examine the accounts under 5ecÈion 145 of the 2011 A to follow the procedures laid down in the General Direciions given by the Charity Conunission under section 145(iXI)) of the 2011- and to state whether particular matter5 have come to my attention. Basis of independent exart)iller's statement Mv ¢xamination was caJried out accordance with Genera] Directions given by the Charity Commission. An exalnination includes a review of the accouniin(T rOrdS kept by the charity and a cornparison of the accounts presenied with those records. It also includes consideration of any unugual items or disclosures in the accounts, and seekÉng explauations from the Tn]siees concerning aJ)y such Mar8. The procedures undettsken do n provide all the evidence that would be required in an audiL and consequently I do not express an audit opinion on the accounts. Independent examintr's Statetnent In the course of my examination. no tnatter h&s come to my attention which gives tne reasonable cause to believe in. any material re5W the Tn]stees have not th¢ requirements 10 ensure that.. proper accountillg records are kepl in accordan¢e with &386 of the Compantes Act 2{)06" and accounts are prepared which agree with the accounting records and comply with the accounting requiremejits of the s.i96 of the Companies Act ?006 and '1th the methods and principles of the Statement of Recommended Practice: Accounting and Reporting" or 2. to which. in my opxnion. attention should be drawn in Order to enable a proper undetstandillg of the acww tobere hed. Lisa Kino of Burdett K" Chattered Certified 8 The Hamiltons Newmarket CB8 ONF Accountancy Limited untant and Registered Aud&tor Page 7 of 12
THE EUROPAEUM STATEMENf OF FINANCIAL AcfiviTIES (INCORPORATING THE INCOME AND EXPENDITURE ACCOUND YEAR EF4DED 31 DeCeber 2021 Totsl Funds to Total Funds to 31 December 31 Decernber 2021 2020 Ne Incoming resources Ineoming resources from generdttng fLm&s". Voluntary incolne Bank interest receivabl¢ 462591 360200 Total incomiDg resoure&s Rwouree5 expended chitable a¢tiYiiies". teachin& research and ac*lemic collaErf)ration Governance $ts 462J91 360200 {414,445) (3,642) (418,087) (255.269) {2.102) (257.371) 102,829 Total resource5 expended Net incoming I (outgoing) resources for the year Totsl funds brought fonvard Total funds rrIed forngrd 427,639 324.810 472,143 427,639 The Ststement of Finan¢ial Activities includes all gains and 105ses in the period and therefore a ststement of total reco]Sed gains and 1055es has not been prepared. All of the ave amounts relate to continuing activtties. Page 8 of 12
THE EUROPAEUM BALANCE SHEET 31 December 2021 Year to 31 December 20•1 Year to 31 D¢cernber 2020 Fixed assets Tangibl¢ asset5 3,195 3,792 Current 8S5ets Debtors Cash at bank and in hand 3,115 581390 17,(KH 515,074 532,078 Creditors: Amounts falling due withiD one year io (115A57) (108231) Net current assets 423.847 Totsl asets less eurrellt liabi]itie5 472.143 427,639 Net assets 472,143 427.639 Funds Ji 472,J43 427,639 Total fllDd5 472,143 427,639 For the year ending il December 2021, the ¢ompany w&s entided to exemption from audit section 477 of the CoEtLpanies Act 2006. The Tnembers bave not required the cornpany to obtain all audit of Èts accoullts for the period in question iti accordan¢¢ with section 476 of the Companies Act 2(MJ6. The TnEstees as ditorS acknowledge their resEy)nsibilities for comptying wÈth the requirernents of the Act with respect to accounting records and the preparation of accounts. The fancial ststements have been prepared in accordancc with the pn)visions applicable to small compatiies subject to the small companies regime and in accordauce with FRS 102 SORP. These fman¢ial 51atements were approved by the IneberS of the committee on Is sepTe4 2022 and are signed on their behalf by: Lord (Christopher Francis) Patten of Barnes Chair of the Board of Trustees. The notes on pages 9 to 12 forJB part of these finaDcial statemeDts. Page 9 of 12
THE EUROPAEUM NOTES TO THE FINANCIAL STATEMENTS YEAR EI¥DED 31 December 2021 Accounting policie5 Basis of acco¥Jllting These accoullts have been prepared under the historical cost convention with items recognised * cost or transaction Yalue unless otherwise ststed in the relevant Dotes ro the accounts. The accounts have been prepared tn accoidance with the Financial Reporting Standard applicable in th¢ UK and Republic of Irelat]d (FRS 102) and with the Chariti¢s Act 2011. Cash flow $tstemellt The Tnthes have tsken thalltage of the exelnption in Financial Reming Staudard No l (revisedl from Including a cash tIow statement in th¢ financial statements on the groullds that the charTry is small. Fixed assets and depreei*titiD All fixed assets ar¢ initially COrded at cost. Depreciatton is calculated on a strdight line basis so to wriie off the cosi of aD a55eL less tts estinuted residual value, over the useful economic life of that asset as follows= Computer Equipment 150A per annum Incoming resources Incorne from dfflation% grants, seinaT% teachÈng and otber sources is recognised in the period in which the charity is entitIed to r¢¢eipt and the amount can k rneasud with re&8onable certainty. Resourtt5 expended All expenditt]re is included on an accrna]5 basis and is recognised wben the¥e is a l¢gal or constrnetive obligation to pay for expeTrditur& Expendittwe has been classified under headings that awegate all cost5 relating to the category. Irrecovernble V A T is either charged to the appropriate expenditure heading or it is capitalised as appropriate. Costs of charitable actiwiiies relate to the w(TrTk carried out on the core purposes of teaching, research and academic collaboration. Governance costs are those costs incurred in cot]nection with athninistration iti the charity. compliance with ci)nStitutional and statutory rtyuirements and costs of the Strdt¢gi¢ planlling process. Support Costs are allocated acr055 specific categories of expenditttre mainly on the basis of time spent. Gains and losses on foreigtj currencl tttnsa¢rions are included within the related expenditure heading. Gains and losses relattng to the te-translaiion of foreign efftncy assets and liabilities are included tn governance costs along with interest payable. Fund 8ceoulltittg Funds beld by the charity are ¢ither. Unrestricled generalfvd% -these are fiJnd5 which can be used in accordanc¢ with th¢ ¢harity's objects at the discretion of the Trustees. Designoiedfvnd¥ - these are fimd5 Set aside by the Ttustees for specific futwr putposes or projects. Page 10 of 12
THE EUROPAEUM NOTES TO THE FINANCIAL STATEI¥IENTS YEAR ENDED 31 Deeembtr 2021 Voluntsry iD¢Om¢ Year to Year to 31 Deetmber 31 December 2021 2020 Subscriplions Benefactions Seminar, lea¢hing, grAnts and other income Trdnsition and new strategy fimds 277,930 262,487 9.107 175554 8.244 89.469 462591 360,200 Charitable 4¢tivities (ineL suprt eosts) YeaT to Year to 31 DeceThber 31 December 2021 2020 Ttrdchin& research and acadmic collatx)r*i(m dir¢¢t (osts Staffcosts Office and other support costs 140,084 198,660 75,701 73,980 156,800 24.489 414.445 255,269 Sllpport costs Charitablt Year to Year to adivities Governance 31 December 31 December costs 2021 2020 Staff costs- office otTice and other supw)rt Costs 137856 75,701 137,856 79J43 108.007 26.)91 3.642 213557 3,642 217,199 134,598 Governance costs Ytar to Year to 31 Deeember 31 December 2021 2020 Staff costs OtTi¢e and other support costs Atcountallts fees 2.742 900 1,202 900 1642 2,102 Net outgoing resollrces for the period This Ès stated 2ft¢r chargin Year to 31 De¢etllber 2021 Yearto31 December 2020 Depreciation Loss on disposal 597 196 609 597 806 Page 11 of 12
THE EUROPAEUM NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 Dettmber 2021 Staff costs and emoluments Totsl stsff ¢ts were ss follows: Year to 31 December 2021 Yeario31 December 2020 Wage¥ sa]aries, pension and social security cOS 195,428 152,942 Particlllars of employees: The average number of employtts dring the year to 31 December 2021, ea]culated on the basis of 11- time eqllivalents 15 5 {2020- 41 During the year TruAees ¢xFtnses of £llil were iAcurr¢d and paid No tTUStee received remuneration. Tallgibk fJx¢d assets EquiptDent Cost At l January 2021 Additions Disposa]s At 31 December 2021 3,988 3,988 DepreciatioD At l January 2021 Charge for the period Depreciation on disposal At 31 December 2021 597 793 Net book value At 31 DeeeThber 2021 3,195 At 31 Ikcember 2020 3,792 Debtors: Amounts falling due vlitbin ot year Year to 31 Detember 2021 Yearto31 De£ember 2020 Accrued Éncome Debtors Prepayments 3,115 6,400 10,604 3.115 17,0(H Pag¢llof12
THE.EUROPAEUM NOTES TO TH£ FINANCIAL STATEMENTS YEAR ENDED 31 Dember 2021 10. Creditors: falling due withiD one yegr Year to 31 December 2021 Yearto31 De£ember 2020 AccTuals DefetTed income 7,150 108J07 7,150 101,081 115.457 1082Jl 11. Funds Balance at l January 2021 Net incomirtg (outgoing) Transfer ID tbe rLsource5 period Balance at 31 December 2020 Europaeum Scholars Programme General Funds 106.887 320.7S2 72.( (27560) 17&9SI 293.192 427,639 (44,504) 472,143 The fimds were desi as support for th¢ Europaeum ScholaTS Programme. Designated fid5 are held as bank All other assets and liabilities relate to gener fund%. The total reserves of th¢ charity shown above aEe utilised going forward fi>r the daily requirement alld Commitments of the Clrity. 12. Commitments AnnuaI cornmitments under operating leases: Land and buildings Year to 31 December 2021 YeartOJl De£emlxr 2020 Leases expiring in ]- 2 yeaTS Le&ses explring in 2- 5 years 25,1 25,000 Page 12 of12