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2021-07-31-accounts

Yorkshire Universities 2020–21 Annual Report and Accounts

yorkshireuniversities.ac.uk YorkshireUnis

Reference and administrative details for the year ended 31 July 2021

Registered office: 22 Clarendon Place, Leeds, LS2 9JY Registered company number: 03467035 Registered charity number: 1109200 Independent examiner: Mark Heaton FCCA DChA FCIE KM Chartered Accountants 1[st] Floor Block C The Wharf Manchester Road Burnley Lancashire BB11 1JG Bankers: Unity Trust Bank plc Nine Brindley Place Birmingham West Midlands B1 2HB Cambridge & Counties Bank Charnwood Court 5B New Walk Leicester LE1 6TE Manchester Building Society 125 Portland Street Manchester M1 4QD

Contents

Chair’s foreword .................................................................................................................... 1 Statement of trustees’ responsibilities ................................................................................... 2 Governance, structure and risk management ........................................................................ 3 Mission ................................................................................................................................. 5 Objectives and achievements ............................................................................................... 6 Future plans ........................................................................................................................ 13 Financial review .................................................................................................................. 14 Report of the independent examiner to the Trustees of Yorkshire Universities .................... 15 Statement of financial activities ........................................................................................... 16 Balance sheet as at 31 July 2021 ....................................................................................... 17

CHAIR’S FOREWORD

I am delighted to introduce the 2020-21 Annual Report for Yorkshire Universities (YU). Our latest financial year continued to be dominated by COVID-19, which has had a profound impact upon our students and staff, and the people, places, businesses and communities in Yorkshire. I was proud of how universities and the higher education sector in the region responded to the challenges of the pandemic. YU members will be crucial as we recover and look to create a more prosperous, greener and inclusive economy and society in Yorkshire.

Our 2019-22 Strategy, which focuses upon the strategic priorities of ‘Ideas’, ‘Talent’ and ‘Communities’, has stood the test of time, and it aligns closely with the government’s levelling up agenda. In the last twelve months, we have expanded our work on climate change, health and well-being, skills and innovation, based on an approach that is underpinned by a commitment to greater social inclusion, equality and fairness. In taking this agenda forward, we are also drawing more upon the region’s academic research base to inform and shape our approach, and to influence the policies and strategies of local and regional institutions. The new Research England-funded Capabilities in Academic Policy Engagement (CAPE) Regional Development Fellowship, based within the YU Executive Team, will play a central role in connecting the diverse expertise within Yorkshire’s universities.

The move to refocus and strengthen our mission towards the place agenda is paying dividends, with YU seen increasingly as an influential and impactful stakeholder in the region, and at a national level. In my first year as Chair, I have been impressed at how YU has widened and deepened its relationships with a range of different institutions and sectors. The Memorandum of Understanding we signed in July with Yorkshire & Humber Councils, for example, provides us with a new framework in which to deliver many of the objectives within our Strategy, and to make sure that our voice is heard loud and clear within the region and beyond.

The impact of the last eighteen months on the higher education sector has been noticeable, and we still face a challenging external policy environment, which could generate even more turbulence following the Comprehensive Spending Review. And yet the record numbers of people going to university in England, in 2021-22, is testimony, in part, to the enduring attraction and individual and societal benefits of higher education. We made our own contribution to supporting members and generating more value added during these uncertain times by reducing our total membership subscriptions in 2020-21. I am grateful to the Executive Director, Dr Peter O’Brien, and his team, for continuing to run a highly effective and efficient operation.

In 2020-21, Sir Alan Langlands, Vice-Chancellor of the University of Leeds and Professor Margaret House, Vice-Chancellor of Leeds Trinity University, retired, and Gerry Godley left Leeds Conservatoire. I would like to thank them for their leadership and long-standing support for YU. This year, we welcomed Professor Simone Buitendijk, Vice-Chancellor at the University of Leeds, Professor Charles Egbu, Vice-Chancellor at Leeds Trinity University, and Professor Joe Wilson, Principal, Leeds Conservatoire, to the YU Board.

I would also like to thank Professor Sir Chris Husbands for the excellent job he did in steering YU through the initial stages of our Strategy, and for laying the foundations for YU to become much more confident and more in line with our members’ priorities. I am a great supporter of and believer in the power of collaboration and cooperation. We have a strong leadership team in the Board, one that is united in using our diverse, but distinct, assets and strengths to help build a better region. YU enters 2021-22 in excellent shape, and it is ready to deliver what I expect will be an exciting agenda over the next twelve months.

Professor Shirley Congdon

Yorkshire Universities Annual Report 2020-21

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STATEMENT OF TRUSTEES’ RESPONSIBILITIES

The trustees (who are also the directors of Yorkshire Universities for the purposes of company law) are responsible for preparing the report of the trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the trustees to prepare financial statements for each financial year. These should give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing these financial statements, the trustees are required to:

The trustees are responsible for keeping proper accounting records, which disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. Trustees are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

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GOVERNANCE, STRUCTURE AND RISK MANAGEMENT

Governance

Founded in 1987, Yorkshire Universities (YU) is a charity and a company limited by guarantee. Its governing documents are the Articles of Association, last amended on 2 July 2020, which can be accessed on the YU website under the Members and Governance page.

YU represents eleven universities and one specialist higher education institution: the universities of Bradford, Huddersfield, Hull, Leeds, Leeds Arts, Leeds Beckett, Leeds Trinity, Sheffield, Sheffield Hallam, York, and York St John, together with Leeds Conservatoire. The vice-chancellors and principals of these institutions are the members of the company, forming its board of directors. The Board meets three times a year, regularly monitoring the organisation’s performance, and setting the strategic priorities for YU.

Board of Trustees:

Leeds Arts University Professor Simone Wonnacott, Vice-Chancellor Leeds Beckett University Professor Peter Slee, Vice-Chancellor Leeds Conservatoire Professor Joe Wilson, Principal (Appointed: Interim Principal, 01.10.20, Principal 12.07.21) Gerry Godley, Principal & Managing Director (Resigned 30.09.20) Leeds Trinity University Professor Charles Egbu, Vice-Chancellor (Appointed 01.11.20) Professor Margaret House OBE, Vice-Chancellor (Resigned 31.10.20) Sheffield Hallam University Professor Sir Chris Husbands, Vice-Chancellor University of Bradford Professor Shirley Congdon, Vice-Chancellor Chair of the Board University of Huddersfield Professor Bob Cryan CBE, Vice-Chancellor and Chief Executive University of Hull Professor Susan Lea, Vice-Chancellor University of Leeds Professor Simone Buitendijk, Vice-Chancellor (Appointed 01.09.20) Sir Alan Langlands, Vice-Chancellor (Resigned 31.08.20) University of Sheffield Professor Koen Lamberts, President and Vice-Chancellor University of York Professor Charlie Jeffery CBE, Vice-Chancellor and President York St John University Professor Karen Bryan OBE, Vice-Chancellor

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New trustees

New trustees are welcomed by the Chair of the Board and the Executive Director (ED) and receive briefings about the strategic aims and objectives of YU. Any further initial preparation is agreed on an individual basis. YU maintains a staff handbook, which includes policies, procedures and governance information; this is regularly updated. The ED reports on attendance at the Board to the Chair, agreeing any necessary action.

The Board has two sub-committees:

Structure

The Regional Development Group (RDG), chaired by Dr Sarah Want, University of Sheffield, acts as the main vehicle for members to operationalise and provide advice and guidance on the implementation of the YU Strategy. A West Yorkshire Higher Education Economic Development Group, co-chaired by Dr Liam Sutton, University of Bradford, is the collaborative interface between the nine YU members in Leeds City Region and the West Yorkshire Combined Authority/Leeds City Region LEP. An informal network of policy and communication advisers also meets under the auspices of the Policy & Communications Network.

In addition, YU convenes meetings and groups of members as and when issues and matters arise, including on a task and finish basis. Communications with members and partners are delivered through a Weekly Digest, quarterly Newsletter, blogs and various social media platforms. The Chair and ED are also regular contributors in the regional press and media on matters relating to higher education.

As of 31 July 2021, the YU core Executive Team consisted of the following:

Two employees:

Four contractors:

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One secondment:

Risk management

For membership organisations, such as YU, the principal risks relate to member engagement and maintaining sufficient income levels for the charity to continue and to develop and deliver its work. Additionally, risks are posed by changes in the external macro environment, such as new government policies or economic and societal shocks. These risks are reviewed on a regular basis and action taken as appropriate. YU reviews its strategy continually to ensure it remains current and resilient; the new strategy for 2019-22 was approved by the Board in July 2019. The organisation monitors its staffing complement to ensure it maintains sufficient capacity and appropriate structures to carry out operations aligned with its strategy. The trustees have examined the major strategic, business and operational risks that the charity faces and can confirm that systems have been established to enable regular reviews to be carried out to ensure necessary steps can be taken to mitigate these risks.

Implications of COVID-19

Given the uncertainty and financial pressures caused by the pandemic across the whole of the HE sector, including YU members, a decision was taken at the 1 July 2020 Board meeting to reduce baseline costs in the YU budget, which, as a result, saw overall membership subscription fees revised to £199k for 2020-21.

MISSION

“Through our strategy, we will work collectively and collaboratively with partners to create more prosperous, inclusive and sustainable economies and communities in Yorkshire.”

Vision

“As a regional partnership of higher education institutions, we have a shared commitment to place and to supporting aspiration and opportunity.”

Meeting and reporting on public benefit

The trustees confirm that they have complied with the duty in Section 4 of the Charities Act 2011 to have due regard to the Charity Commission’s general guidance on public benefit, ‘Charities and Public Benefit’. The structure of the trustees’ annual report allows us to report on our strategic aims, our activities and achievements during the year and also outline our plans for 2021-22. We have embedded examples of how YU meets the public benefit requirement throughout our report. Examples of highlights can be found in the next section; you can find a detailed version of the YU 2019-22 Strategy on the website.

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OBJECTIVES AND ACHIEVEMENTS

YU’s three-year 2019-22 strategy focuses upon delivering activities against three priorities, each with specific objectives:

  1. Ideas: Strengthen HE contributions towards increased research and innovation activity in the region.

  2. Talent: Extend and deepen partnership to improve higher level skills pathways into continuous development and learning.

  3. Communities: Ensure universities / HE are recognised as influential anchor institutions.

In addition, there are a number of crosscutting enabling mechanisms: governance; finance; communications; partnerships; executive services; intelligence & analysis; monitoring & evaluation; each with specific objectives. A summary is given below of the objectives for each of these four priority areas, together with examples of what has been achieved in the second year of the strategy in 2020-21.

1. Ideas: Strengthen HE contributions towards increased research and innovation activity in the region.

Objectives:

Achievements:

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Related consultation responses:

Related think pieces and communications:

Joint publications:

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Speaking roles and presentations:

2. Talent: Extend and deepen partnership to improve higher level skills pathways into continuous development and learning

Objectives:

Achievements:

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Related consultation response:

Think pieces and communications:

3. Communities: Ensure universities / HE are recognised as influential anchor institutions.

Objectives:

Achievements:

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Think pieces and communications:

Speaking roles / presentations:

4. Enabling mechanisms

Objectives:

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Achievements:

Established groups and panels that YU participated in this year and made the case for our members and HE in the region:

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West Yorkshire Combined Authority (WYCA) and Leeds City Region (LCR) groups YU was involved in 2020-21:

Related communication:

Speaking roles and presentations:

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FUTURE PLANS

In looking ahead to 2021-22, we will continue to deliver the objectives set out in the 2019-22 YU Strategy, but we are mindful of the context that members and the wider economy and society face as a result of COVID19 and the economic crisis. Therefore, we will remain flexible and agile to anticipate and respond to opportunities and challenges as they arise.

1. Ideas:

YU will continue to promote university research and innovation capabilities in Yorkshire; support the development of ‘place sensitive’ innovation systems; and encourage greater connectivity between YU members’ different capabilities to harness the potential of multiinstitution and multi-disciplinary research and innovation.

2. Talent:

YU will continue to help to strengthen member and partner knowledge of the supply and demand for higher level skills within Yorkshire’s labour markets; work with members and partners to improve graduate retention, employability and employment in the region; and work with partners, especially business and further education, to ensure technical and vocational training, skills and learning reflect the social and economic priorities of the region.

3. Communities:

YU will continue to promote and disseminate the social, economic and public value of HE within Yorkshire; provide a strategic framework for YU members to identify and share learning and good practice to encourage civic university and anchor institution activity within different places in the region; facilitate place-based leadership and public engagement actions between YU members and other anchor institutions (such as those operating in the health sector) and work with partners to address the challenges (and realise the opportunities) facing Yorkshire presented by climate change.

In 2021-22, we will also start the process of developing a new three-year Strategy, which we will develop in consultation with the Board, members and our partners.

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FINANCIAL REVIEW

Membership subscriptions of £199k (2020: £199k) represent the overwhelming majority of YU’s voluntary income for 2020-21. During the year, YU received £224k in general and designated funding (2020: £237k). YU expenditure incurred was £211k (2020: £227k).

At the end of the year, we are taking forward £105k (2020: £90k) of unrestricted reserves. The use of funds is described in note 9 in to the 'Notes to the financial statements'. This includes a new designated West Yorkshire CAPE Programme fund, which was at £23k on 31 July 2021 (2020: nil).

We hold £137k (2020: £96k) of these balances in deposit accounts, in excess of the actual fund balances. Funds are invested on bank deposit at the best rate obtainable, with recognised financial institutions and banks.

Reserves policy

Our reserves policy sets unrestricted reserves to be held to meet the working capital requirements of the organisation, to meet specific costs (e.g., staff cover for illness and maternity leave) and to meet contractual liabilities should the organisation have to close. The policy requires the organisation’s unrestricted reserves to be between a fifth and a sixth of its unrestricted budget expenditure. This was between £42k and £50k for anticipated unrestricted costs in 2021-22. Our unrestricted reserves have comfortably exceeded the target.

As explained in pension costs note 3 in 'Notes to the financial statements', we also carry a long-term pension provision of £50k (2020: £50k), which the Board does not expect to crystallise.

This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

Approved by order of the board of trustees on 22 November 2021 and signed on its behalf by:

Professor Shirley Congdon Chair of the Board

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REPORT OF THE INDEPENDENT EXAMINER TO THE TRUSTEES OF YORKSHIRE UNIVERSITIES

I report to the charity trustees on my examination of the accounts of the company for the year ended 31 July 2021, which are set out on pages 16 to 22.

Responsibilities and basis of report

As the charity trustees of the company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (‘the 2006 Act’).

Having satisfied myself that the accounts of the company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your company’s accounts as carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’). In carrying out my examination I have followed the 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 company as required by section 386 of the 2006 Act; or

  2. the accounts do not accord with those records; or

  3. the accounts do not comply with the accounting requirements of section 396 of the 2006 Act 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; or

  4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities [applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)].

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.

Mark Heaton FCCA DChA FCIE KM Chartered Accountants 1[st] Floor Block C, The Wharf Manchester Rd Burnley BB11 1JG

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STATEMENT OF FINANCIAL ACTIVITIES

(including the income and expenditure account) for the year ended 31 July 2021

Income
General subscriptions income
Investment income:
bank interest
Other incoming resources
Total income
Expenditure
Total resources expended
Net (expenditure) / income
and movement in funds for the
year
Reconciliation of funds
Total funds brought forward
Funds carried forward		 General
funds
2021
£
198,952
970
-
199,922
207,698
(7,776)
90,338
82,562		 Designated
funds
2021
£
24,000
-
-
24,000
1,096
22,904
-
22,904		 Total
funds
2021
£
222,952
970
-
223,922
208,794
15,128
90,338
105,466		 Total
funds
2020
£
235,448
1,732
134
237,314
226,528
10,786
79,552
90,338

The Statement of Financial Activities includes all gains and losses recognised in the year. All incoming resources and resources are expended in the current year.

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BALANCE SHEET as at 31 July 2021

Notes
Fixed assets
Tangible assets
5
Current assets
Debtors
6
Cash at bank
Cash on deposit
Total current assets
Liabilities:
Creditors: Amounts falling due within one year
7
Net current assets
Creditors: Amounts falling due after one year
7
Net assets
The funds of the Charity
Unrestricted revenue accumulated funds
General funds
Designated funds
Total funds		 2021
£
2
2,392
38,882
137,142
178,416
(23,152)
155,264
(49,800)
105,466
82,562
22,904
105,466		 2020
£
2
2,881
58,285
96,102
157,268
(17,132)
140,136
(49,800)
90,338
90,338
Nil
90,338

For the year ended 31 July 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors’ responsibilities

The directors have prepared accounts in accordance with section 398 of the Companies Act 2006 and section 138 of the Charities Act 2011. These accounts are prepared in accordance with the special provisions of Part 15 of the Companies Act relating to small companies and constitute the annual accounts required by Companies Act 2006 and are for circulation to the members of the company.

The financial statements were approved by the YU Board on 22 November 2021 and were signed on its behalf by:

Professor Shirley Congdon

(Chair of the Board)

The 'Notes to the financial statements' form part of these accounts.

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NOTES TO THE FINANCIAL STATEMENTS

1. Accounting policies

The following accounting policies have been used consistently in dealing with items which are considered material in relation to the financial statements.

a. Basis of preparation of accounts

The financial statements have been prepared under the historical cost convention and in accordance with Section 1a of Financial Reporting Standard 102, the financial reporting standard applicable in the UK and Republic of Ireland, and the Statement of Recommended Practice – “Accounting and Reporting for Charities: revised 2015” (Charities SORP 2015 FRS102) and the Companies Act 2006. YU meets the definition of a public benefit entity under FRS102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notes.

b. Fund accounting

Unrestricted funds are available for use at the discretion of the trustees in furtherance of the general objectives of YU. Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for a specific purpose. Designated funds are funds which have been set aside from unrestricted funds by the trustees for specific purposes. General Subscriptions income represents member subscriptions and unrestricted grants. There are no restricted funds.

c. Incoming resources

All income is accounted for as soon as YU has entitlement to the income, there is certainty of receipt and the amount is quantifiable. Subscriptions are accounted for in the year to which they apply.

d. Resources expended

All expenditure is accounted for on an accruals basis and has been listed under headings that aggregate all the costs related to that activity. Where costs cannot be directly attributed they have been allocated to activities on a basis consistent with the use of the resources. Direct costs, including directly attributable salaries, are allocated on an actual basis to the key strategic areas of activity.

e. Pension Fund

The institution participates in the Universities Superannuation Scheme (USS). The assets of the scheme are held in a separate trustee-administered fund. Because of the mutual nature of the scheme, the assets are not attributed to individual institutions and a scheme-wide contribution rate is set. The institution is therefore exposed to actuarial risks associated with other institutions’ employees and is unable to identify its share of the underlying assets and liabilities of the scheme on a consistent and reasonable basis. As required by Section 28 of FRS 102 “Employee benefits”, the institution therefore accounts for the scheme as if it were a defined contribution scheme. As a result, the amount charged to the profit and loss

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account represents the contributions payable to the scheme. Since the institution has entered into an agreement (the Recovery Plan) that determines how each employer within the scheme will fund the overall deficit, the institution recognises a liability for the contributions payable that arise from the agreement (to the extent that they relate to the deficit) with related expenses being recognised through the profit and loss account.

f. Fixed assets

Individual assets with an individual or aggregate cost when acquired in excess of £2,000, and which are intended to be of ongoing use to YU in carrying out its activities, are capitalised as fixed assets. Depreciation is charged on tangible fixed assets at 25% of cost per annum, so as to write them off over their expected useful lives. Computer assets are fully depreciated in the year of purchase.

2. Employee information

The full-time equivalent number of staff employed at the end of the year was 2 (2020:2). Contractor costs are not included in staff costs. Total employee costs during the year were £148k (2020: £142k) broken down as follows (all figures in £000s):

Salaries
Social security costs
Employer pension
Change in pension shortfall accrual
Change in leave outstanding at year end
Employment allowance
Total		 2021
117
13
25
0
(3)
(4)
148		 2020
102
12
21
9
1
(3)
142

Total

Note that contractor costs are not included in staff costs. There is one employee whose emoluments for the year are in a bracket of £70,000 and £80,000.

3. Pension costs

The total cost charged to the Statement of Financial Activities is £25k (2020: £21k) as shown in Note 2. The latest available complete actuarial valuation of the Retirement Income Builder is at 31 March 2018 (the valuation date), which was carried out using the projected unit method. A valuation as at 31 March 2020 is underway but not yet complete.

Since the institution cannot identify its share of USS Retirement Income Builder (defined benefit) assets and liabilities, the following disclosures reflect those relevant for those assets and liabilities as a whole. The 2018 valuation was the fifth valuation for the scheme under the scheme-specific funding regime introduced by the Pensions Act 2004, which requires schemes to adopt a statutory funding objective, which is to have sufficient and appropriate assets to cover their technical provisions. At the valuation date, the value of the assets of the scheme was £63.7 billion and the value of the scheme’s technical provisions was £67.3 billion indicating a shortfall of £3.6 billion and a funding ratio of 95%.

The provision figures have been produced using the following assumptions as at 31 March 2018:

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Valuations: 2018 2017
Discount rate Yr 1 (CPI+) +0.14% -0.53%
Discount rate Yr 11 (CPI+) +2.52% +2.56%
Discount rate Yr 21 (CPI+) +1.55% +1.70%

In accordance with FRS102 an accrual has been made for the amortised anticipated costs of pension shortfall recovery payments that might be anticipated now but be payable in future years. A new deficit recovery plan was put in place as part of the 2018 valuation, which requires payment of 6% from 30 September 2021. The deficit recovery liability reflects this plan. The liability figure has been produced using a discount rate of 2.59% (2020: 2.59%), and growth of 2.00% (2020 4.20%). The liability was maintained this year at £49.8k (2020 £49.8k).

More detail of the costs and valuations for the USS pension scheme are available at: https://www.uss.co.uk/how-uss-is-run/2018-valuation

4.
Resources expended
a) Analysis of resources
expended/ £000s
Core
WY CAPE (Designated)
Total expended
b) Analysis of support costs
/ £000s
Independent examination
Director insurance
Premises
Self-employed administrator
& consultants
Phone, office and website
Travel costs
Subscription
Professional fees & insurance
Equipment
Other Non-staff
Total		 Staff
costs
148
-
148
Core
1
1
2
38
3
0
4
11
1
(1)
60		 Support
costs
60
1
61
WY CAPE
(Designated)
1
1		 Total
2021
208
1
209
Total
2021
1
1
2
38
3
0
4
11
2
(1)
61		 Total
2020
225
2
227
Total
2020
1
1
3
49
4
11
2
13
0
1
85

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5. Tangible fixed assets

Asset cost
At 1st Aug 2020
Additions
Disposals
At 31st July 2021
Accumulated depreciation
At 1st Aug 2020
Charge for the year
Released on disposal
At 31st July 2021
Net book value
At 31st July 2020
At 31st July 2021
6.
Debtors
Debtors
Accrued income
Prepaid expenses
Total
7.
Creditors and commitments
Short Term
Trade creditors
Accrued expenses
Employment Related
Total
Long term
Pension shortfall accrual		 Office
equipment
£
1,414
2,377
-
3,791
1,413
2,377
3,790
1
1		 Fixtures
& fittings
£
664
-
-
664
663
-
663
1
1
2021
£
732
10
1,650
2,392
2021
£
3,129
1,611
18,413
23,152
49,800		 Total
£
2,078
2,377
-
4,455
2,076
2,377
4,453
2
2
2020
£
1,279
100
1,500
2,879
2020
£
2,261
2,530
12,341
17,132
49,800

8. Related party transactions

There were no transactions with related parties undertaken during the year such as are required to be disclosed in detail (2020: none). No remuneration was paid to any trustee during the year (2020: £Nil). There were transactions with the institutions represented by the

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charity’s members that were all undertaken at arm’s length, or at nil profit. Principal among these are costs from the University of Leeds for accommodation and supplied services.

9. Analysis of movement in funds

All figures in
£000s
Unrestricted
funds: General
funds
Designated fund:
WY CAPE
Total		 Brought
forward
90
0
90		 Incoming
200
24
224		 Outgoing
208
1
209		 Total
2021
82
23
105		 Represented
at bank
(see below)
152
23
175

The analysis of funds shows our funds are fully available in cash. The unrestricted general fund held as part of our bank and deposit balances is now £82k (2020: £90k).

The expectation is that the £23k closing balance on the Designated fund will be spent out during the forthcoming year. We hold no restricted funds.

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