The ATts Univèrsity Bournemouth Charftabl• Foundatlon Financlal Statements for the Year Ended 31 July 2024 THE ARTS UNIVERSITY BOURNEMOUTH CHARITABLE FOUNDATION ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024 COMPANY NUMBER: 05367067 CHARITY NUMBER: 1109fA8 The Arts Unlvèrslty Bournemouth Charltable Foundation Flnancial Slatements for thg Year Ended 31 July 2024 INDEX Pagè Trustees and Advlse Truste8s' Report 24 Statement of Responslbllhtes of the Trusiees Independenl AuditorfB Report to tho m•nbers ofThé Arts Unr48rsity Bwmemrxjth Charltabl8 FouThJ8t#)n Slatémant of Flnancial ActI￿tIeS Ilndudlng 11￿c￿ne & Exp8JKlilwe Account) Balance Sheet statement of Cash Flows 10 Not88 to the Flnanclal Statem9nts 11-13 The Art5 University Bourn8rnouth Charltable Foundation Financial Slatements for the Year Endod 31 Juty 2024 (Company Number 05367087, Charity Number 1109648) TRUSTEES AND ADVISERS Trusts¢6 Professor Paul Go( Mr Simon Gotham Dorothy Mthnzfe Ms Felicity Irwln Mr Paul Kinvig 8ocr¢tary Jon Renyard Prlnclpil Offi¢• 7 Fem Barrow Walligdown Poole Dorset BH12 SHH Company Number 05367&37 (Roglstered In Eryjland and Vslalos) Charfty Numb•r 1109648 Audltor Sedulo Audlt Llmlted off￿ 605 Albort Hou80 258-280 Old Street London EC1V 9DD Bankor Bardays Banlf 61 Old Chrfslchurch Road Bournemouth Dor8et BH11ER Investm•nts Managgr Inveslac Waallh & Invostrn8nt Llmltad Midland Hou88 2 Poolo Road Boumemouth Dorset BH2 5QY The Arts Unlversity Bournemouth Charitable Foundalion Flnancial Stalfrments for tho Yoar Ended 31 Juty 2024 {Company Number 05367067, Charity Number 1109648) TRUSTEES. REPORT Report of the trU9ts￿ for thè y•ar ¢nded 31 July 2024 Thetwstees (who are also director5 forthè wrpos&s ofthe CompaniosAd>pr￿nI théir reportalong wlthth& finanpial st8l£ments ol the charity lor th8 year 1 August 2023 10 31 July 2024. Thg finaniyal ststemgnts have been prepared in accordancg With the Stslement of Recommended PraGti¢e: AccounlirwJ and Repotbng by Chartiies 2019 and In aLzordanc8 With Flnandal Reporting Slandaids {FRS 102). Thè accounlirKJ policies getout on pages 11-12 also complywith lh6 eJ)arity's con8btution and th8 Charities Ac12011. Structure, Gov•rnan¢• and Managemont The Foundation wa$ incoTpor8ted gs a comp8ny limtted by guarantee (Company number 53870871 on 16 F8bruary 2005 and becam• a registered charity on 24 May 2005 (Charity number 110W8). The Foundation's governDw di)wmènt Is thè memorandum and artlcles ofassodats'on. The day-to-day 8ffaiTS of the charity we looked aftar by Mehlabeen PatrkK th8 Dlreck)r of Financ8 at th& Art$ University BournemDUth. The power to @ppolnt additl(m¥l trustses 1$ vested in th8 currort t(u8tees gTrJ $houkl new tru51ees ba 8PPQiftted om of thè $xiatlng tru8t888 woukl tAk8 résponsibility lor thelr induction. Other Ih8n the Pdnoip81 and Mce-chancellor of tho Arts University BotsmemoLrth each Inmtse is apOnted IDr a maxlmum tomi of three yea[5 aft•r whlGh paritid thay may put U)amselves for4¥ard for re-appolnknenl. Tha trustees. generally hold 8t18ast two meetiTrJ5 yearand at the8e meetings thè trustees agTea the broad 5tratagy and areas of a¢tlvlty for Ihg Trust. including o)nsKl8rBlion of grant making. fund raislng. investment. reseNès and r￿k managèmènt pollcl8S and p8rfonnanc&. Three meetings wer8 hekl duriw 2023r24, as the TfU81ees agfeed th& priorileg for th8 forthcomlng peik)d, Induding pog5ibl8 fundraljing to support th& d￿￿0pment of tho Palace Court Theatr The Irustge8 confltm th3t they have referred to the guidan￿ conts1￿d In the Chartty Comm135ion'8 gener81 giwd8n¢e on publlc b8nefft when revlewiffj th& Tru8t'S 8im8 pThl ￿ectiveS and In plannlng fLrtur• 8thide8 and 8ettlng lh• grant making pollcy for the year. Tvu8tse Tr•lnlng All new tr￿188$ are brf8fed ar￿ m8de aware of Ihelr respons1￿1111&S by the chaflty'8 secretary. Guldance documantatlon IB8ued by the Charftle8 CommiB51on (ircula18d to trustees. At truste8 meetlngs presentsbons gr8 grrnnged to Inlorm lh8 operalon of th8 Intst e.g. dgvelopments In of furKJ r818lng and appfalsal of thè Invgstrnanl markets. Rl•k managemont Tho trustees have examIn￿l the malor slmtfglc, bu51ness ar￿ oporatlonal rf$k¥ whKth the cha￿ty faces arKJ L￿nfiM}S that 8ysl8ms have been 8st8bllshed lo 8n&ble regular reports to be prothjced so that any nechssary $tsp8 can b8 18ken to IvsBen th888 rlsks. The Iru8teps consldor varlablllty of inveslmenl (elums on Ihe pemonentendowment to con8Utut8 the chadty's major rfsk, In order to mlligatè this risk, th8 tru$b8$ cx)nslder ryorts prepatgd by Ihe invgstrnenl manggors ￿lce yearty and quasllon Investment decisions. The Truslaos noted the merger beiween Invesie¢ and Rathbones aTrJ are laking the opportunity to d&tsrmlne whelher this tpm8lns a 8uilable vehlclfr ft>r Its Ilmked funds. Annual grants awarded can b6 adlustsd to ensu￿ thal th8 unr8slrfGt8d fund8 ¢apilal18 presèrved. Publlc Beneflt The obiects of the Tiusl are the ￿VanceMent of educa16on principally, but not eXclUs￿ly, wthln the 8ubject 8re98 of grt, design, media and perfo￿[n9 arts and such other purposes 09 the Twstees se8 fit. Tho beneficlarfo5 are stydents of Arts Unlvernlty Bournemouth. Thg charlty awards grants to students 8tt6ndir¥J th8 Ats Un￿lers￿ 8wmemouth. The grants tenafit the students by 6nabllng them lo produce enhanced works of artwhich will provide them wtih long te￿ advantwJe5 in lerrns of their portfollos. The grants are awarded competitively whlch ensures that a l¥gh standard is achiewj In r9$pect of g118tud8nts' wo￿. Furthor grant¥ have been made to lacilrtatè internation81 exchanges by contrlbuting towards travel costs. In ¥dditlon. the charity supp￿ th8 development ol educattonal faCI￿tIeS by tho Arts University 8oumemoulh which provldo students with acLe8s to slat&of.Ihe-art buikJing5 and equlpment ents and Pèffuman Durfng the period a total grant 01 £8,211 was awartled to enhan￿ the baming experEnce on the MA and BA CD5tume coufses at the Art8 University BOurn￿nouth whl¢h are att￿ded by 250 students. At the University s gradLEalion in July the Charitable Foundation awarded prizes to 25 ￿divIdual5 totalling £6.550. The Atts UnlvÈrslty Bournemouth Charitable Foundation Flnan¢lal Statemonts for the Year Ended 31 Juty 2024 {Company Number 05367067, Charity Numbor 1109648) TRUSTEES, REPORT (eontlnued) Fln•n¢lal Revléw Inmm8 of £48,882 {2023'. £18.073) was generated In th& parir*J to its charrtabl& activStles. Dlre¢t charit&ble expenditure of £23.523 (2023.. £27,792) was mad6 in iho form of sludenl course prizes. 8￿pOrt devaloplng Iha un￿￿[ty'S drawing provision, and th8 govemance costs of t1￿ Charitabl8 Foundallon. At prèsènt the charity has adopted a rnedium risk investrnent strategy to protect, in absoYLrte teThs, the capital valua of th8 fund and h85 invested its funds in a comblnation of hbjh interest yialdlng ac¢ounts and ¢apttal growth equty trusts. Investrnenl incom8 has lotalled £15,608 {2023.' £13.5471 during the period. Re89rve• Poll The Irusteesseektornalntain 8 Capital elementof free resery8s of at lèast £500,O¢XJ of th•funds to on5ure thatthrough Investment. $uffi¢l8nt income Is generated and the capital afflount enhanced so that future foiums In real 18mis VAII malntalned. Tha tru51ees wl8h lo Increa88 th18 kvel of reserves through fvnd ralsing with the lontrterm aim of having erKlI)wm8nts suffioenuy larg8 to fund the charity'8 objectsves on a s￿laInabl& b88i4. Reserves cufrenlsy stsnd at £734.536 wtth an increase in 2023r24 duo to a su￿&18 of£49,097 on inveslm8nts. Pl#nA forth• Futur• A new Chalr of Trusteès wa5 appoin1￿ durtng 2023124 and tsvo furlh6r members have also been appoinled to support th8 oblecllves of the charfty. Th& Foundab'on's focus Is on rahlng funds for the rod&velopm8nt of thè P818ce Court Theatr6, a 1930's Ihealra In tha centre of Boumemouth, whlch wlll prov6de faolities for sludents on several ofth8 Unlversity's perfomianco cour869 and wlll 8180 aB a llexible venu8 forthe wldercommunty. To supportttHS obj￿￿¥8 lh& tw8lee$ gro oxplorlng 811 opportun1tt8$ to 9pply for caplt81 and revenue grants from fijnding bodlos Such as Arts Coundl England. the National Lottery eto The Found8tk>n wlll continue to provlde grants and prrze8 to Arts UnJv8rslty Boumemouth 8tudents as In prevlou8 years. Audltor The trustees have tsken all the steps that they ought to have taken to moko thom8el%￿3 aware of 8ny knforniatlon needed by thè company's audllor for (he purpos6$ of Ihelr audit and lo ostsbll$h that the audltor Is aware of that Infomiafjon. Tha Irustees a not aware of any rg1gv8nt audrt Infomiallon ofwhth the audilor 1$ unaware. Trustse• The Trustee8 who JeNed durlng the pwlod and up b the dole of th898 financlal stat8mont8: Prole88or Paul Gough Mr Slmon Gorham Dorothy MaGkanzL* Ms Felldty lThvln lappolnted 18th FebNary 2024) Mr Paul KInV￿ (appointed 111 May 2024) Tho Arts University Boumemouth Charftsbl8 Foundalion Finan¢lal Statements for the Year Ended 31 July 2024 Icompany Number 05367067, Charity Number 1109648) STATEMENT OF RESPON8181LITIES OF THE TRUSTEES OF THE ARTS UNIVERSITY BOURNEMOLrrH CHARITABLE FOUNDATION IN RESPECT OF THE TRUSTEES. ANNLIAL REPORT AND THE FINANCIAL STATEMENT8 The trustees aré responsible for preparfThJ the Trustee5' Amual Roport and Ihe financlal $18tements in accordan￿ wilh applicabte18w and Fegulatlons. Company law requires tho trustees to prepare finanaal stalements for each financial year. Under that law th6y are requlred to prépare thè financial ststements in acC￿rdanCe with UK ALKounting Standards and applicab18 law (UK G8neralty AGGepted Accountin9 Practice), includiTr3 FRS 102 The Financi81 Rap￿11￿9 Stand8rd applioable in th8 UK and R6publK of Ireland. Und&r company law the Irustees mu61 not apptove the ffiriancial statements unless they are satisfièd that th8y giv8 a true end fair view of the Slatè ofaffalr8 of the Charitab￿ crynpany and of Ihe incOw￿ expenditure for Ihat pericKI. In preparin9 these fin8ncial 8ts1ements, the trustee5 are requlred to.. select 8Uitable o¢countlng policies aml then appty thom c(M)sistently: make ludgements and esiimates that are reasonable pNdenL slat8 whetherappli¢able UKAccounting Standards and Ihe slg18rnentolRgcomm8nded Pract1￿ have been followed, subjocl to any malerial départures di$dosed and exp181ned in the finandal statem8nt8: a88è89 the ch8rll2b￿ company's abimty to continuo as a go*wJ cy)nc4m, dISck)￿n9. as appllcable. matters rglated to golng Goncem., and Usethe goln9 concern basls ofaccounlng unle88 they glthgr Intend lollquldaie Ihe chawitable company orlo c8as8 op8r&tion8. or have no r881isUc alternative but to dcs so. The trustees ate r&sponsIb￿ lor keepirKJ ad8quatè accounttro records th81 are suffident to Show ar￿ explain th8 charftable company's If8ll98Ctlon8 and dlsclose wllh reasonable 8c¢uracy at any ￿'me Ihe financAal posth'on of lh8 ¢haril8ble company Bnd enable them to •nsLtr& IhAI the finandal Statsmenis comply with the Companies Acl 20C6. Th8y are r8Bponslblg for such intfrmal control as they deleimlne is nèee$¥ory to enable the preparation of financial statem8nt8 that 8r8 fre8 from materfal m193tatement, whether du8 lo ITaud or error, and hav& genatal responsibllity for taking such stgps 8s are rea80nably open to Ihèm to 8afeguard lh& assets of th6 charitable company and to pr8venl and detect fraud and other Irregulari11gS. Approved ty th8 trustee8 on 28 Novemter 2024 and Sign￿ on thelr i*h811 by.. Dorothy Mackenzl8 Trustee leuor IGO The Arts University Bournemouth Charltable Foundation Fina￿la1 Ststem8nts for thg Year Ended 31 July 2024 Icompany Number 05367067. Charity Number 1109648) INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF THE ARTS UNIVERSITY BOURNEMOUTH CHARITABLE FOUNDATION Oplnlon We have audited th8 financS81 statements afArts Univérslty Boum8mouth charitab￿ Foundation ("the charitable company") for the yearended 31 July 2024 which compri88 th8 Statement of Financial Activities {(r￿lUdIng In￿rne & Exp8nditure Account). alance Sheel, Statement of Gash Flows, and related no￿, IndudirKJ a summary of signifi(*nl accounting poli¢ies. In ouioplnion the financial ststements: glve a tru8 8ThY falr vlew of the State OF the charitsbl8 comp8nls affalfs as at 31 July 2024 and of its incomlng resourees and applicalFon ol resource3. includln9 its income and exFenditure, for the year then ended., have been properfy prepared In aWdan￿ with UK ￿4￿unting standard8, induding FRS 102 The Finan￿81 Rgpothng Standard aPpI￿abl8 in th8 UK and Republic of Ireland.. and have been prepared in accordan¢6 with th8 r4uireTh*nts ofthe Companies Act 200B. Ba•1• for oplnlon Vve conducted our audil In accordance wlth Intsfflational S*ndards on Audilng (UK) {ISA8 IUK)) and appll¢able law. Our responslblllttes underlhose $landards a￿ further des￿1￿ in the Audltors, responsibilities br the audit of the financlal slalemonts section of our report ￿ aro indepermdent ol the ch8ritsbl8 compary in accordan(* wllh th8 othl¢al raqulraments that are relevant to our audit ol the financial statements In the UK. Indudlng the FRC'S Ethlcal Standard, and we have ftjlfilled our other ethlcal re$ponsibillll&s In a¢xordance with thetse raqulrem&nts. We believe Ihal ihg audll evidence we have obtalned 18 sufflciant and approprlate to Pfovld8 a bgsls for our oplnio Cohclu8loM rel•tlnu to golng cone•m In audltlng tha financl81 ylalements. we have condudod th81 the tr￿1085, uso of tho golrg conr*m bas1$ of accOun￿n9 In lh6 preparation of tho financlal 8tatements h approprlate. Based on Iha work we hav6 porformed, wo have nol IdentiW ary material uncertaintbg relatlnp to 8venl8 or Gondltlon$ thal Indlvklually or collectivety, may cast slgnlficant doubt on Ihe ¢h8rltable companys ablllty to contlnue as 0 9olng ooncorn lor a P8dod ofatloast Iwelv8 months from when the finonclal slataments arg authorl8ed for I￿U8. Our re8ponsibillties and the responslbllltleg of tho tfU8laes wSth r08PgCt to golno ¢onc8m are des¢dbed In the rolovant Bectlons of thls report. Other Infomiatlon The tru$lg88 are r88ponglbl8 for tho Other Information. Th8 0￿r knfomiauon ￿mptse￿ the Infomi81ion In th8 Roport of th8 Trustee8. bui does not Include Ihe financlal statements and ow Report of tho A￿JItorS th&reon. Our oplnlon on th? hnartlal s18tomont8 do88 fKIt Covor th8 other Inlomiawon and, ext%pI to the exlfrnt oth8r*vls8 axpllcllly 8lalad In our rèport, we do not express any form ofassuran(x ¢oncluslon tsreon. In ¢Onr￿tIOn wlth our audit of the financlal stat*nènts. our responsibilty 18 to r8£d the other informatlon and, In doing 80, conslderwhether the other infomallon is m8terially incortsiBlent wilh th& finanaal statement8 or our knowledge obtained in tho audit of otheNl$e appears to be materially mlsslated. Ilw8 idenlfy suth m81grtal Inconslslendes or apparent material ml86tatemonb, we are requlred to dètemiine wholhgrihis gives ri8e to a matsrial mlsslatement In the financial Statements Ih8m881vey. If, based on tha work we ha￿ p8rfomied, w8 Cond￿ja that there 1$ a materlèl m18s1alement ofthls othof information, we are requir8d to report that facL have nolhlng to report In thts reg8nl. Oplnlon• on other matt•rn pre6orfbod by tho Compllnl￿ Aol 2006 In our oplnion, ba$gd on the work undartaken In Ihg cOu￿e oftho audlt: tho information glven In tho Raport of Iha Trustees for t1￿ financial year for vthlch the financial stat￿onts are proparod Is consi8tent with Ihe financial stalernents- and the Report of the Trustees has b88n prepared in accffllance with ar¢Jlieablè legal requlrements. The Arts Unlverslty Bournemouth Charilable Foundatlon Flnancial Statem8nts for the Year Ended 31 July 2024 (Company Number 05367067, Charity Number 1109648) INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF THE ARfs UNNERSITY BOURNEMOUTH CHARITABLE FOUNDATION (contlnuedl Matter8 on vthlch ￿ are ro4ulr•d to rnport by gxcWl•)n In the light ol th8 knowle(￿8 and understsndlrvj of ihe thariiabl8 ccrfnpany and its environment obtslned In the courso of tho audil. we hgve not ￿entified material mis8tat8rn8nts In ts Report ofts Trustses. We havè nothlng to rewrt in respeci of ts f0lknv￿rvJ rnattws wthere the Companies Act requires us to report to y¢)u If. in our opinion.. adequate accounting records have not been kep( or Teturn8 ath]uate fLY our aLKlil have not been receivad Irom branthes not visited by us., or the fin8ncial statements arn not In agreement wlth the accounllng records aTrJ retums: or certaln di$closure$ of Ifuslees. remuneration sppAfied by18w are not mado; or W8 have not rec8N6d all thg information and explanelrons we require for our aud¢ or the Iru$tses were not entr'lied to prepare th& finaTKlal stst8ment8 in accLJidanca wth th8 Bm811 ¢ompanlè$ reglrne and tske advanlage of the small companies, ex8mpts.on from Ihe roqulreffl8ntto preparè a Strategic Report or in preparfng the Report ofthe Trustees. Roipon•lbllltle$ of trugh•s As exploin&4 morn fully In thè St8t8ment of Trust￿, R8spon81bllitl88 8et out on p8g8 4, 11* trusie&8 ar8 rospon51bl8 for the preparatlon of th8 financlal 8tal8m8nts and for beSng 58tisffied that they giv8 a true 8nd falr vlew. and for such Inlemal control as the trustees detemiine neceBs8ry lo enable thg weparellon olfinandal stabments that are freo from mat8ri81 m188tal8ment, whether due to fraud oi error. In preparlng thg financial s18tements. Ihe trustee5 ale respon8iblg for a6888glng the charftable companys abS1ity lo COn￿nU8 88 a going conc8m. dlscloslng, as applic8blè. matt8rs felaled to going concem and uslng lh8 golng ¢on¢Xgm basis of accounting unl8ss the truBtees 8ith8r Intsnd to liquidal? the charitable company OT to cea8e oporation8, or have M realistlc aliernallve l>ut to do so. Audllor8' re8pon8lbllltlo8 tor th• audlt of tho finan¢lal 8tatem•nt• Our obloctfve8 are to obl4ln reasonable 88gurance about ￿e{her the fina￿031 stsléments as a whole are fr88 from malertal ml88lalemgnl. whether due to fraud or error, and l0188ue a Report of Ihe Auditors that Includes our opinlon. R8880nable assurance18 a hlgh ￿Ve1 of a58Ufance. but is nol a guarentee that an audlt conducted In accordance wth ISAS IUKI will alw8y6 detect a material misslalemenl whèn It exists. Mlsslatements c8n arise from fraud or eiror 8nd are Mn￿￿&r6d Ma￿rial If. Individually or In the aggregate, they could reasonably be ex[￿cted to influence the econom1¢ deci$ion$ of users tak6n on the b8518 of these linandal statements. Th6 8xl8nt to whlGh our prLxedure6 are ￿pable of datociing irreg￿8111189. kncfuding fraud Is d8talK8d below. Extsnt to whlch thé &udlt wa8 fApablo of d•t•rtlng lff•gularltlo8, Includlng frnud The primary re8ponsiblltty for the p￿Vention and dets¢bon of fraud rests V￿1h trustees and manag￿nent, and w8 cannot bé expgcted to detect non-compllance with 81113ws 8TrJ regubtM8. We idenllfied area3 of laws and regulatlon5 that ¢oukl reasonabty be expected to ha￿ a materi81 eff?￿ on the financial slaternents from our knowledge of the business and sector, erwukteg of Iwsts88 and M￿ag￿Ment, and revièw of regulaiory Infonnation and corr98pondence. We communiGated kJ8ntiffed18ws and regulations through0￿1 the a￿11 team and remalned alert to any indI￿￿On5 of non-compllance throughout ihe audit We dlscussed with tru$le8s and managemenl lh8 policies w0￿dUreS In pla¢8 to ensure com￿l&n￿* with laws and rfrjulaliong and Otherv￿9e prevent. d8t8r and detect fraud. Based on thls urK1erstandlng designed our audit procedures to identify nonth¢unpliance wth suth laws and regulatst)ns identified ag potenlally havlng a matenal effect on the financial stalements. Our proLTdur8$ Induded review of financial stat0m8nt informatlon and testtng of that inlormation. enquiry of man8g8m•nl 8nd èxamlnallon of relevant documentstlon, 8ftalyllGal procedures to idenufy unusual or U￿Xpec￿￿ ielatKJnships that may KpJic8ts IraL*J. and procedures to addres8 the dsk of fraud through truste8 or m8nagèment OV8rrits ol controts. A fuTlher description of our wonsibilib'es for the audit of the financial statements is lo¢aled on thè Financial Reporti Council's website at wWw.frG.oig.uklauditorsresponsibilii￿5. Thls descriptk>n fonn6 part of our RepDrt OF the Auditors. The Arts University Boumemouth Charitablo Foundation Financlal Statomonts for tho Yoar Ended 31 July 2024 (Company Number 05367067, Charfty Numb8r 11096481 INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF THE ARTS UNIVER8ITY BOURNEMOUTH CHARITABLE FOUNDATION (Gontlnuod) U8e of our report This teport Is made sol8ly to the charitable companys memb&rs, as a body. In wrdance wrth Chapter 3 of Part 16 of the Companies Act 2006. Our audit WO￿ has be&n undertaken so that V•e mlght slai• to th8 company'8 m8mb8rs thosè mattets we are requi￿0 to ststs to them in a Report ofthe Auditots and lor no othel wrpo38. To lh8 fv1189t extent pemiitted bylaw, wa do not a¢¢ept or assurne respon8ibilty to anyo[18 Dlher than tho company arKI CAJnpanls momters as a t*xly, for our audlt work, lor this fepLrt or for tho opinlorn8 we have formed. DlcGon Thornely (Senior Statutory Auditor) for and on behalf ol Sedulo A￿￿1t Urnttad statutory Auditor8 Office 605 Albert Hou8e 256-260 Old Str8et London EC1V 9DD Dal6'. The Arts Unlvofslty Bournemouth Charitablo Foundation Flnanciaf Statements for the Year Ended 31 July 2024 {Company Number 05367067, Charlty Number 1109648) STATEMENT OF FINANCIAL ACTIVITIES (INCLUDING IKOME AND EXPENDITURE ACCOUNTI FOR THE YEAR ENDED 34 JULY 2024 Total Funds 2024 £'ooo Total Fundg 2023 E'OOO unrèBtr1ct￿ Restrlcted Funds Funds £'ooo £'ooo Notes Income and endowments from: Donations and legac 33 Investment Income 15 16 13 Total Incomè and endowmants 49 Exp9ndl￿rn on.. Charitable 8Ctivibas (23) 123> (2B) Total oxpondltur• 123) 1231 12B) Net profil1106s) on inve8tments 49 49 136) Nat Income and n•t movèment In Funds for th• yeat 74 75 146) Re¢on¢lllatlon of lund• Total funds bmught forward 615 45 Tolil lund$ earrl•d forward 689 48 735 680 The Charlty ha3 no rewnbod galn8 and108s0s olh8rthan tho In(x)m8 and expendllwe shvNn abov6 for elth8r the curienl or the precedlng fin8nclal year. Th• Income and expenditure derivo from &￿tInUIng 8cuv1￿•. The Arts Unlverslty Bournemouth Charltsble Foundatlon Flnanclal Ststsmgnts forthg Yoar Ended 31 July 2024 {Company Number 05367067, Gharity Number 1109648) BALANCE SHEET AS AT 31 JULY 2024 Totsl Funds 2024 £'ooo Total Funds 2023 £'ooo Unrestrl¢ted R¢slflcled Funds Funds £'oDo £'ooo Nots8 Flxed asseta Invo$tment8 741 741 676 Current assots Debt¢)rs Cash al bank and In hand 45 91 76 Total currnnt amèts 46 91 75 Llabllltl•• Cffjdilors.. amounts falling duo wilhlTr one year {97) (97> (911 Not ¢urront {Ilabllltlo&yafj•ets (521 46 (6) (18) Not a8•et• 735 660 Funds Restrlcted Fund8 48 45 Unrestrlcted Funds e89 615 Tol•l Ch•rHy Funds 689 46 Tho financlal st8ternents on pages 8 to 10 approved and authorf8ed lor b$uo by ttto bo8rd of tIU8t8 on 28 November 2024, Slgned on118 behglf by,. Dorolhy Mackonzlo Truste8 Profe8uor Paul Go Trustee The notes on pages 11 to 13 form part ofthese finandal ststements. The Arts Unlver81ty Boumemouth Chatllable Foundallon FIna￿la1 Statements ft•r the Year Ended 31 July 2024 (Company Number OS367067, Charlty Number 1109648) STATEMENT OF CASH FLOWS A3 AT 31 JULY 2024 2024 £'oo 2023 £'ooo Noto6 Cash flow from operatlng a¢tlvltl•s Net Sncorn8 for the year 75 {46) AdJuslmentloT non Flllng of Accounts The TNstses' Annual Report and Ihe Financial Statements will b8 fi18d al Compani88 Fknuse wilhin thè réqulred ffiling deadlin8. Relatsd Party Transa¢tlon• The charity has relied on the exemption I￿rn havlng to disclcEe trarngclion8 With related parttes arKJ as&oc4ated gntities Induding the Arts UnlversSty Boumemouth. 2024 £'ODO 2023 £'ODO 2. Donauons and legacl•• Bursar1￿ end bequests 33 3. Invo•lment Income Inte￿51 on ca#h deposits & inve8tments 16 13 4. Expondlturn on Charlt¥blo Actlvltles The Charity 8waTded grants Io 8 numb&i of indmdugls attendlng as 81udents ol th? Art8 Unbv8rs1ty Bournemouth dunno tho yeaf In furtherance of its charftable acbwties. Charitable 8clivilies 8180 include govemanco costs con818ttry of auditoffs rernunerallon for tha prow8lon of audlt £3,40812023,' £3,488} S. Inv•8tm•nt• OFening b8lanc8 at m8rf(81 valu8 Addloon to Investments at Cost Add profft110s$1 on revaluatlon S810 of Investmon 678 16 49 899 13 {38) Corrylng market value at gnd of yeaf 741 678 Analy81* ol Invo•lments Inveslmfjnts It8tgd on a r9wgnlsed 8toc& exchange or held In inveslm8nt funds. open ended Investm&nl companiès. unlt tNs18 or other collecb've Investment S￿￿￿eS 741 676 6. D•btorn Trade debtors Accrued Income 7. Cfvdltors: Amoun18 lalllng duo wllhln ono y••r AccrtJ818 Oth8r cr8dito 93 87 91 12 Tho Arts Unlvevsty Bournemouth Charltable Foundation Financial Statements for the Yèar Ended 31 July 2024 {Company Number Q5367067, Charlty Number 1109648) NOTES TO THE FINANCIAL STATEMENTS (Coollnued) FOR THE YEAR ENDED 31 JULY 2024 8. Analysls of Charltable Funds At 31•t July Inryomlng RMour¢e5 At 31•1 July 2023 Resources Expèndéd 2024 £'ooo £'ooo £'ooo £'ooo oswald MoNis Schofatshi) Huw P6nult-Jones BU￿arleS Crab DrawiNJ Studio Appeal 20 21 Restrrcted FurKIs Unrestdcted Funds 45 615 46 97 1231 Totsl 660 98 (23) 736 The reSt￿cted funds cc4xprise.' Oswald Morris Scholarship- these sthoiarnhip8 are avallabb to support students attending Cln8m8tography courses at the Arts UnSv8rsity Boumemoulh. Huw Penalt-Jon8s Bursary - th4s bursary is avallabla lo support students attanding Film Produclion cournas at the Arts Unlv8rslty Bournemouth Crab Drawlng Studlo AFpeal - thè funding ralsed through this appe8115 availab￿ to furmj the apprcprlate fumishing of the n8w CRAB Drawing Studlo built on the Univernity's Wallisdown campus and to support tho positlon of 8 ProlesBor of Drawlng Thè unreBtrtcted funds 8th avail8￿e to be spent for any of tho p￿￿OSe8 of the chartty however Ihe trusle8s have dwded to rlng fencA a capltal Sum of £5fJJ,000 for investrnent purpo8e$ In order to pres6rv8 the fund and ensure th8 8ustslnAblllty of fvture awards. 9. Taxallon Thé charfty Is conglderld lo pa88 the le319 881 out In Paragraph I Schedule 6 Flnanc4 Act 2010 and thereforn It meét8 tha deflnlllon of a charltsble rA)mpany for UK corporalion lax purposes. Ac&irdingly, the charity Is polenyally exempl Irom taxallon in respecl of Income or capital galns received. Wthin categories cov8r8d by Chaptgr 3 Part 11 Corporation Tax kt 2010 or Secllon 256 of tha Tgx8tFon of Chargea￿e Gains Act 1992, 10 the extent Ihat such Incorn8 or galns are appll@d exclu81vely to ¢harftable purposes. The charity Is partially exempt in rospecl of V81ue Added Tax, 50 that11 can only recover a minor elemont of VAT chgrged on Its Inputs. lirecoverable VAT on Inwls i8 induded in lh8 costs of Such Inputs and added to the cogt of 18ngible fixed assets 88 appropriate. where tho Input8 Ihem8elves arg tanglble flxed a898ts by noture. 10. Ultlm•t¢ Controlllng Party Arts Unlv8r81ty Bournèmouth rJ the ultEmale contrt41ing party of The Arts unl￿￿lty Boumemoulh Charltable Foundatlon by vlrtu6 ofthe domln8nt inifuencè over Its oporaling and flnanci81 ￿11￿83. Therefore, th8 Chartlablo Found8titin 18 ￿￿$￿Ild4t&d ￿thin the Ajts Unlverslty Boum8moulh's group finandal $talemènts which ar8 avallable from.. Art8 Unlv8rslty Boumemouth Wallisdown Pool8 Dorsel BH12 SHH 13