Company Registration Number: 04639157 Charity Number 1105477 THE EUROPAEUM (A company limited by guarantee) FINANCIAL STATEMENTS Year ended 31 December 2024
THE EUROPAEUM FINANCIAL STATEMEiYrs YEAR ENDED 31 December 2024 Contents Pages Members of the Board and professional advisers Trustees, Annual Report Statement of Trustees responsibilities Independent examinerfs report Statement of Financial Activtties (incorporating the income and expendilure account) Balance sheet Notes to the financial statements 10-13
THE EUROPAEUM MEMBERS OF THE BOARD AND PROFESSIONAL ADVISERS Registered charity Dame The Europaeum Charity number 1105477 Company registration number 04639157 Registered olet Belsyre Court 57 Woodstock Road Oxford OX2 6HJ Office address Annex 3 70 Woodstock Road Oxford OX2 6HR Trustees and Dire¢tor$ Andrienne d'Arenberg Professor José Manuel Barroso Professor Isabel Capeloa Gil Dr Andrew Graham Baron (William) Hague of Richmond Baroness (Margaret) Jay of Paddington Professor Maximilian Kiener Professor Brigid Laffan Pascal Lamy Professor Dame Sally Mapstone Professor Marie-Laure Salles Herman Van Rompuy Professor Wim van d¢n Doel PersoDS of Signifjegnl Control Anthony Teasdale (Executive Director of the Europaeum) Independent examiners Burdett King Accountancy Limited Chartered Certified Accountant 8 The Hamiltons Newmarket CB8 ONF Bankers CAF Bank 25 Kings Hill Avenue West Malling Kent ME19 4JQ Transferwise Europe SA Avenue Marnix 13-17 1000 Brussels Belgium
THE EUROPAEUM TRUSTEES AN]YUAL REPORT YEAR ENDED 31 December 2024 The Trustees, who are also directors for the purposes of company law, present their report and the financial statements of the charity for the year ended December 2024. Reference and gdministrative details Reference and administrative details are shown in the schedule of members of th¢ board and professional advisers on page l of the fiT]ancial statements. The Trustees The Trustees who served the charity during the period in question (January to December 2024) were as follows: Baron (Christopher) Patten of Barnes (Chair until November 2024) Dr Andrew Graham (Chair from December 2024) Professor José Manuel Barroso Professor Isabel Capeloa Gil Andrienne d'ArenbeTg Baroness (Margaret) Jay of Paddington Pascal Lamy Professor Dame Sally Mapstone Laura Nordstrom Professor Marie-Laure Salles Professor Wim van den Doel Professor Maximilian Kiener- appointed 31 December 2024 Person of Significant Control.. Dr Hartmut Mayer- resigned 15 July 2024 Anthony Teasdale - appointed from 16 July 2024 (Executive Directors of Ihe Europaeum) Structure? governance and management The charitsble company is in¢orporat¢d as a company limited by guarantee having no share capital and, in accordance with the Memorandum and Articles of Associalion, every member is liable to contribute a sum of £ I irs the event of the company being wound up. The Trustees are appointed either in their capacities as Rectors of the member universities or as co-opted members. The board keeps the skill requirements for the Trustee body under review. The Trustees meet during the year to agree and review broad strategy. to monitor past activities. to agree areas of actlvlty for the organisation, includiT]g risk management policie5 and perforniance, and to seek additional funding, as necessary. In addition. the Chair of the TStee5 is in frequent contact with the Executive Director, and members are also consulted regularly to review major operational policy changes and to support the Executive Director in any significant administrative work or changes in the work of the association. The Executive Director is present at all board meetings, while the nominated Rectors (or representatives) are ex officio members of the Europaeum Academic Council, which oversees academic policy matters for the association. The following m¢¢tings of Europaeum governing bodies took place in 2024: Tbe Trustees met on 15 March in Oxford and online, 5 June in London and online, and 18 November in London and online.
THE EUROPAEUM TRUSTEES ANNUAL REPORT (conlinue YEAR ENDED 31 Deeember 2024 The Academi¢ Council, comprising representatives of all member universities, met on 13 May in St Andrews and online. and on 25 October in Vienna and online. Professor Wim van den Do¢1 (Leiden), Trustee, served as Acting Chair of the Academic Council. The Executive Committee, comprised of a rotating group of representatives of six member universities, tnet on 7 Marth, 30 April, 10 July and 10 October, all online. The Executive Committ¢¢ is chaÉred by the Executive Director. The Europaeum has a small central secretariat. based at St Antony's College in the University of Oxford. The secretariat cuffently comprises an Executive Director, a Chief Administrator, two part-time Programme Directors, and three part-time Administrators for Programmes and outreach, alumni relations, and fmancial management. Risk management The charity's Trust¢¢s have considered the major risks lo which the charity is exposed and have reviewed those risks and established systems and procedures to manag¢ those risks. Objectives and Aetivities The company is a registered charity established for the advancement of education through the encouragement of European studies in universities. The Europaeum was founded in 1992 as an association of Europ¢an universities. Its mission is to give the most talented, most energetic and most socially committed sludents within the Europaeum network the opportunity to develop professional qualities to shape the future of Europe for the better. In this context, it is empowered to.. promote excellence between the Europaeum partners, through academic collaboration in research and aching; act &s an open academic network linking the Europaeum parthers and other bodies in the pursuit of serve a5 a resource for the general support and promotion of European studies. function indep¢ndently in th¢ search for new ideas. provide opportunities for the joint undertaking of new, pan-European. initiatives. provide a'pool of talent, to carry out searCh and inquiry into problems and questions confronting Europe today and tomorrow. and train and educate 'future leaders, for a new Europe. Membership in 2024 The Europaeum was originally founded by three universities - Bologn Leiden and Oxford - in 1992. During the course of 2024, the following universities were members of the Europaeum.. Barcelona (Pompeu Fabra), Berlin (Freie Universitat), Bologn4 Copenhagen, Geneva (Graduate Instttute of International and Development Studies}, Helsinki. Krakow (Jagiellonian), Leiden, (KU) Leuven, Lisbon (Catholic University of Portugal), Luxembourg, Madrid (Compluten5e), Mullich (Ludwig-maximilians-universitat), Oxford, Prague (Karlova I Charles}, St Andrews in Scotland, Tarty and the Central European University in Vienna and Budapest. Activities in 2024 During the course of 2024, the Europaeum organised a wide variety of largely in-person seminars. training sessions and policy events for postgrdduate students from its member universities, with a primary (but not exclusive) focus on study of the humanities and social sciences. The main themes of its work were- (i) European history and culture, (li) European policy-making, and (iii) Ibi eral democracy and citizen engagement. The two principal vehicles for the delivery of such Europaeum's activities were (and retnain) its twin Scholars, Programme and Core Programm¢, which together aim to help equip postgraduate students for both academic and non-academic careers, in a way that supplements what the individual member universities might otherwise b¢ ablc to proYid¢.
THE EUROPAEUM TRUSTEES AN]YUAL REPORT (conlinued) YEAR ENDED 31 D¢cember 2024 In 2024, the Scholars, Programme was in the first year of its fourth two-year cycle, giving 30 of Europe's ablest doctoral students, drawn froTn Europaeum member universities, the opportunity to develop new cross- cutting skills, both intellectual and practical - with a strong emphasis on leadership - and to work in small. multi- disciplinary teams with a view to evolving proposals together for European policy initiatives. In 2024, there were four. week-long modules wtthin the Scholars. Programme, largely hosted at member universities. which covered.. (i) the launch of the two-year programme and initial policy work (on 10-14 March in Oxford). the operation of the EU institutions and policy process (on 24-27 June in Bruss¢ls)' Democracy in Europe (on 26-29 August in Budapest). and skills training and policy project work (on 9-12 December in Krakow). In parallel, the Europaeum's Core Programme provided in-person opportunities for postgraduate students (often but not exclusively Mter'S students) from the member universities to explore issues at the intersection of scholarship and polTrcy-making. Around eight to ten Core Programme events are organised each year, rotating among member universities. 'fh¢se include spring, summer and winier schools. as well as an annual Brussels policy seminar each autumn designed to help students explore the EU political system in depth. In 2024. the Europaeum's Core Programme comprised the following events. largely hosted in member universities around Europe: Europaeum Winter School on 'Survivance and Survival,, from 29 January to 2 February in Tartu. Europaeum Spring School on 'Making sense of TuTbulent Times,, from 17 to 20 April in Oxford; Europaeum Medieval-modern Forum on 'Flourishing, Then and Now,, from 24 to 26 June in Helsinki. Europaeum Summer School on 'Marginalised Histories,, on 27 to 31 August in St Andrews. Europ2eum Brussels policy semlnar on 'The Impact of Elections, 2024, from 25 to 27 September in Bruss¢ls' Europaeum Classics Colloquium on 'Critical Thinking in the Classics, from 16 to 18 December in Berlin. Europaeum parttcipation in the Catholic University of Portugal's winter workshop on 'Media and Ambivalence, from 9 to 12 January in Lisbon. The 'Europaeum Debate, on 'DemocrdCy'S Third Wave, at the Catholic University of Portugal's Political Forum, from 3 to 5 June in Estoril" and The Researeh Seminar Series for the Europaeum MA In European History Ind Civilisation, which ran from 22 April - 3 June in Oxford.
THE EUROPAEUM TRUSTEES ANNUAL REPORT (ujnlillued) YEAR ENDED 31 December 2024 Financial review The surylusl(deficit) for the year of £49,788 (2023 - £66,715) as shown in the reserves at the year end, has again been contributed to by benefaGtor5. The Trustees are satisfied that the charity has adequat¢ resources to continue in opcrdtional existence for th¢ forcseeable futtLre. Reserves policy The Trustees aim to maintain free reserves in unrestricted funds at a l¢v¢l that provides sU1¢ient funds to cover management and administration and support costs and that will allow the charity to respond to any emergency funding requirements which may arise from time to time. Colltingencies poliey The Trustees have access to pledges which allow them to f¢¢1 confident they can meet the charity's creditors and obligations. and if necessary respond to any emergency funding requirements which may arise from time to time. The reserves of the charity are utilised going fonvard for the daily requirements and commitments of the charity. Small company provlsions This report has been prepared in accordance with the small companies regime under the Companies Act 2006. Signed by order of the Trnstees . 30 May 2025 Dr Andrew Graham Chair of the Board of Trustees
THE EUROPAEUM STATEMENf OF TRUSTEES, RESPOIYSIBILITIES YEAR ENDED 31 Deeember 2024 The Trustees are responsible for preparing the annual report and the fmancial statements, in accordance with applicable law and regulations. Law applicable to charities in England and Wales requires the Trustees to prepare financial statements for each fmancial period. Under that law, the Trustees have elected to Prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). The fmancial statements are required by law to give a trne and fair view of the state of affairs of the Charity and of the surplus or defjcit of the charity for that period. In preparing those financial statements, the Trustees are required to.. select suitable accounting policies and then apply them consistently; make judgements and estimates that are reasonable and prudent; and prepare the financial statements on the going concern basis unless It is inappropriate to presume that th¢ charity will continue its activities. The Trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensur¢ that the financial slatement5 comply with the Charlties Act 201 l and the Charities {Accounts and Reports} Regulations 2008. The Trustees are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the Preventton and detection of fraud and other irregularities. As directors, the Trustees acknowledge their responstbilities for.. (i) ensuring that the company keeps proper accounting records which comply with the Companies Act 2006,, {ii) preparing accounts which give a true and fair view of the state of affairs of the company as at the end of the financial period and of its profit or loss for the financial period in accordance with the requirements of the Companies Act 2006. and which otherwise comply with the requirements of thi5 Acl relating to accounts, so for &s applicable to the company.
THE EUROPAEUM INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE EUROPAEUM YEAR EIYDED 31 Deeember 2024 Respective responsibilities of the Trustees and examiner The charity's Trustees consider that an audit is not required for this period under section 144 of the Charities Act 201 l and that an independent examination is needed. It is my responsibility to: examtne the accounts under section 145 of the 201 l Act, to follow the procedures laid down in the General Directions given by the Charity Commission under section 145(5Mb) of the 201 l- and to state whether particular matters hav¢ come to my attention. Basis ofindependent examiner's statement My examination w&s carried out in accordance with General Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from the Trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would b¢ required in an audiL and consequently I do not express an audit opinion on the accounts. Independent examlner's statement In the course of my examination, no matter has come to my attention which gives me reasonable cause to believe that in, any material respect. the Trustees have not met the requirements to ensure that: proper accounting records ar¢ kept in accordance with s.386 of the Companies Act 2006. and accounts are prepared which agree with the accounting records and comply with the a¢countin8 requirement5 of the s.396 of the Companies Act 2006 and with the methods and principles of the Statement of Recommended Practice.. Accounting and Reporting; or 2. to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached. Lisa King of Burdett Ki Accountancy Limited Chartered Certified Accountant 8 The Hamilton5 Newmarket CB8 ONF 28 May 2025
THE EUROPAEUM STATEMENT OF FINANCIAL AcTITIEs {tNCORPORATING THE INCOME AIYD EXPENDITURE ACCOUIYT) YEAR ENDED 31 December 2024 Total Funds to Total Funds to 31 Deeember 31 December 2024 2023 Note Incoming resoure¢s Incoming resources from generating funds: Voluntary income Bank interest receivable 667,675 285 739,755 415 Total incoming resources Resources expended Charitable a¢tivAties- teaching, research and academic collaborntion Governance costs 667,960 740,170 (606,882) (11,290) (618,172) (668,572) (4.883) Total resourc¢s expended Net incoming l (outgoing) resources for the year (673,455) 66,715 49,788 Total funds brought forward Totsl funds earried forw8rd 415,861 349,146 465,649 415,861 The Statement of Financial Activities includes all gains and losses in the period and therefor¢ a statement of total recognised gains and losses has not been prepared. All of the above amounts relate to continuing activities.
THE EUROPAEUM BALANCE SHEET 31 December 2024 Year to 31 December 2024 Year to 31 December 2023 Note Fixed assets Tangible assets 3,099 3,421 Current assets Debtors Cash at bank and in hand io 21,035 448,966 37,916 409,277 470,1)01 447,193 Creditors: Amounts falling due Ivithin one year (7,451) (34,753) Net current assets 462,550 412.440 Total assets less eurrent liabilities 465,649 415.861 Net 8ssets 465.649 415,861 Funds 12 465,649 415,861 Totsl funds 465.649 415,861 For the year ending 31 December 2024, the company was entitled to exemption from audit under section 477 of the Companies Act 2006. The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476 of the Companies Act 2006. The Trustees as directors acknowledge their responsibilities for complying with the requtrements of the Act with respect to accounting records and the preparation of accounts. The financial statements have been prepared in accordance with the provisions applicable to small companies subject to the small companies regime and in accordance with FRS 102 SOKP. These fmancial statements were approved by the members of the committee on 30 May 2025 and are signed on their behalf by.. Dr Andrew Graham Chair of the Board of TsleeS. The notes on pages 10 to 13 forni part of these finaneial statement
THE EUROPAEUM IYOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 December 2024 Accounting policies Basis of aceounting These accounts have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant notes to the accounts. The accounts have been prepared in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and with the Charities Act 2011. Cash flow slatement The Trustees have taken advantage of the exemption in Financial Reporting Standard No l (revised) from including a cash flow statement An the financial statements on the grounds that the charity is small. Fixed assets and depreci8tion All fixed assets are initially recorded at cost. Depreciation is calculated on a straight line basis so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that agset as follows.. Computer Equipment 150/0 per annum Incoming resources Income from donations, grants, seminars, teaching and other sources As recognised in the period in which the charity is entitled to receipt and the amount can be measured with reasonable certainty. Resources expended All expenditure is included on an accruals basis and is recognised when there is a legal or constructive obligation to pay for expenditure. Expenditure has been classified under headings that aggregate all costs relating to the Category. Irrecoverable VA T is either charged to the appropriate expenditure heading or it is capitalised as appropriate. Costs of charitable activities relate lo the work carrted out on the core purposes of teaching, research and academic collaboration. Governance costs are those costs incurred in connection with administration in the charity, compliance with constitutional and statutory requir¢ments and costs of the strategic planning process. Support costs are allocated across specific categories of expenditure mainly on the basis of time speT]t. Gains and losses on foreign currency transactions are included within the related expenditure heading. Gains and losses relating to the re-translation of foreign currency assets and liabilities are included in governance costs along with interest payable. Fund accounting Funds held by the charity are either: Unrestricted generalfvnds -these are funds which can be used in accordance with the charity's objects at the discretion of th¢ Trust¢¢s. Designa¢edfunds - these are funds set &side by the Trustees for specific future pUoseS or projects. 10
THE EUROPAEUM NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 December 2024 Volutttary income Year to Year to 31 December 31 December 2024 2023 Subscriptions Benefactions Seminar. teaching, grants and donations Transition and new strategy Thd8 346,692 334,294 320.983 405,461 667,675 739.755 Investment income Year to Year to 31 December 31 December 2024 2023 Interest on cash deposits 285 415 285 415 ChAritsble aetlvltles (Incl. support Costs) Yev4r to Year to 31 December 31 December 2024 2023 Teaching, research and academic collaboration direct costs Staff costs Office and other support costs Bank r¢valuations - loss (gain) 360,996 177,939 52,398 15,549 438,865 178,021 45,726 5,960 606,882 668,572 Support costs Charitable Year to Year to activities Governance 31 Decem ber 31 December costs 2024 2023 Staff costs Office and other support costs 177,939 79,955 J77,939 91,245 178,021 56,569 IJ2 257,894 11290 269,184 234,590 Governance costs Year to Year to 31 December 31 December 2024 2023 Staff costs Office and other support costs Independent examiner's review 10,365 925 3,983 900 11,290 4,883 11
THE EUROPAEUM NOTES TO THE FINANCIAL STATEMENTS YEAR EM)ED 31 December 2024 Net outgoing resources for the period This is stated after charging: Year to 31 December 2024 Yearto31 D¢cember 2023 Depreciation Loss on disposal 861 789 861 789 Staff eosts and emoluments Totsl staff costs were as follows: Year to 31 Deeem ber 2024 Yearto31 December 2023 Wages, salaries, pension and social security costs 177,939 178,021 Partleulars of employees: The average number of employees during the year to 31 December 2024, calculated on the basis of full- time equivalents is 4 (2023 - 5). During the year TTUSte¢s expenses of £nil were incurred and paid. No trustee recexved rernuneration. Tangible fixed assets Equipment Cost At l January 2024 Additions Disposals At 31 December 2024 5,495 539 6,034 Depreciatio At l January 2024 Charge for the period D¢pr¢ciation on disposal At 31 December 2024 2,074 861 2,935 Net book value At 31 December 2024 3,099 At 31 December 2023 3,421 12
THE EUROPAEUM NOTES TO THE FINANCIAL STATE1vNTs YEAR ENDED 31 December 2024 10. Debtors: Amounts falling due Ivithin one year Year to 31 December 2024 Yearto31 December 2023 Accrued income Debtors Prepayments 10,101 21.035 27,815 21.035 37.916 11. Creditors: Amounts falling due within one year Year to 31 Deeem ber 2024 Yearto 31 December 2023 Deferred income Accruals Creditors 17,316 900 16,517 925 6,526 7,451 900 12. Funds Balance 8t January 2024 Net incoming (outgoing) Transfer in the resources period Balance at 31 Deeember 2024 Europaeum Scholars Programme General Funds 101,638 314,223 89,060 (39272) 49,788 190,698 274,951 415,861 465,649 The funds were designated as support for the Europaeum Scholars Programme. Designated funds are held as cash at bank. All other assets and liabilities relate to general fimds. The total reserves of the charity as shown above are utilised going forward for the daily requirement and commitments of the charity. 13. Commitments Annual commitments under operating leases: Land and buildings Year to 31 December 2024 Yearto31 December 2023 Leases expiring in less than l year Leases expiring in 1- 2 years 27.01)0 27,000 13