| CONTENTS | |
|---|---|
| Page No | |
| Administrative information |
01 |
| Statement ofCorporate Governance | 02 |
| Report ofthe Auditors | 08 |
| Statement ofFinancial Activities | |
| Balance Sheet | 12 |
| Statement ofcash flows | 13 |
| Notes to the Financial Statements | 14 |
==> picture [119 x 21] intentionally omitted <==
==> picture [3 x 8] intentionally omitted <==
| Unrestricted | Restricted | Endowment | 2023 | 2022 | ||||
|---|---|---|---|---|---|---|---|---|
| Funds | Funds | Funds | Total | Total | ||||
| Note | K | K | K | K | K | |||
| INCOME | ||||||||
| Tuition Fees &Accommodation | 12 | 1,551,077 | 158,195 | 1,709,272 | 1,951,256 | |||
| Charges | ||||||||
| Investment | 78,439 | 3,847 | 82,286 | 86,564 | ||||
| Income | ||||||||
| Grants and Donations | 45,969 | 210,000 | 255,969 | 155,394 | ||||
| Other Income | 13 | 3,726 | 53,042 | 56,768 | 33,968 | |||
| TOTAL INCOME | 1,679,211 | 425,084 | 2,104,295 | 2,227,182 | ||||
| EXPENDITURE | ||||||||
| Charitable activities | ||||||||
| Costs ofProviding | 14 | 2,135,821 | 215,108 | 91,362 | 2,442,291 | 2,463,786 | ||
| Education | ||||||||
| TOTAL EXPENDITURE | 2,135,821 | 215108 | 91.362 | 2,442,291 | 2,463,786 | |||
| NET INCOME/(EXPENDITURE) | before | (456,610) | 209,976 | (91,362) | (337,996) | (236,604) | ||
| gains/losses | ||||||||
| Unrealised gains/(losses] |
on | (112,213) | (2,400) | (114,613] | (79,086] | |||
| investments | ||||||||
| Realised gains/(losses] | on | (4,137) | (4,137) | |||||
| investments | ||||||||
| NET INCOME/(EXPENDITURE) | being | (572,960) | 207,576 | (91,362) | (456,746) | (315,690) | ||
| net movement in funds |
||||||||
| Reconciliation offunds: |
||||||||
| Funds brought forward | ||||||||
| at 1stSeptember 2022 | 4,033,010 | 947,061 | 239,830 | 5,219,901 | 5,535,592 | |||
| Funds carried forward | ||||||||
| at31stAugust 2023 | 8,9,10 | 3,460,050 | 1,154,637 | 148,468 | 4,763,155 | 5,219,901 |
| --,. The Queen' s Foundation |
--,. The Queen' s Foundation |
||||
|---|---|---|---|---|---|
| BALANCE SHEETAS AT31stAUGUST 2023 | |||||
| COMPANY NUMBER 05511503 | |||||
| 2023 | 2022 | ||||
| Note | E | 6 | |||
| FIXEDASSETS | |||||
| Tangible Assets | 2 | 1,770,007 | 2,011,746 | ||
| Investments | 5 | 2,558,087 | 2,912,914 | ||
| 4,328,094 | 4,924,660 | ||||
| CURRENT ASSETS | |||||
| Debtors | 6 | 107,820 | 202,519 | ||
| Short term Deposits | 5,757 | 5,757 | |||
| Bank and Cash in hand | 459,668 | 233,972 | |||
| 573,245 | 442,248 | ||||
| CREDITORS | |||||
| Amounts falling due within 1 |
year | 7 | ~138.184 | 147,007 | |
| NET CURRENT ASSETS | 435,061 | 295,241 | |||
| TOTAL ASSETSLESSCURRENT | |||||
| LIABILITIES | 4,763,155 | 5,219,901 | |||
| NET ASSETS | ~,763,155 | 5,219,901 | |||
| CHARITY FUNDS | |||||
| Endowment | 148,468 | 239,830 | |||
| Restricted | 8 | 1,154,637 | 947,061 | ||
| Unrestricted [inc Designated |
Funds] | 10 | 3,460,050 | 4,033,010 | |
| TOTAL CHARITY FUNDS | 4,763,155 | 5,219,901 | |||
| The notes on pages 14to 29form part ofthese financial statements. | |||||
| These financial statements were approved |
by the Board ofGovernors | on .....~.........,'.......,........,..................and | |||
| are signed on their behalf by: | |||||
| y t+Kivt. / |
| Statement ofcashflows for | year to31August | 2023 | ||
|---|---|---|---|---|
| Note | 2023 | 2022 | ||
| Net Cashflow from operating activities | 20 | (79,449] | 149,992 | |
| Property funds | ||||
| Payments to acquire fixed assets |
(13,219] | (164,626] | ||
| Payments to acquire investments |
[13,922] | (13,269] | ||
| Receipts from sales ofinvestments | 250,000 | |||
| Interest received | 82,286 | 86,564 | ||
| Net cash flow from investing activities | 305,145 | (91,331] | ||
| Net increase/(decrease) in |
cash and cash | 225,696 | 58,661 | |
| equivalents | ||||
| Cash and cash equivalents | brought forward: | 239,729 | 181,069 | |
| Cash and cash equivalents | atyear end: | 465,425 | 239,729 | |
| Cash and cash equivalents | consists of: | |||
| Cash at bank and in hand | 459,668 | 233,972 | ||
| Short term deposits | 5,757 | 5,757 | ||
| Cash and cash equivalents: | 465,425 | 239,729 |
==> picture [144 x 38] intentionally omitted <==
| TANGIBLE FIXEDASSETS | |||||
|---|---|---|---|---|---|
| Long Leasehold | |||||
| Land ik | Furniture | & | Beating & | ||
| Cost | Buildings | Equipment | Plant | Total | |
| 6 | E | E | E | ||
| Balance at 1stSeptember 2022 | 4,770,088 | 715,067 | 283,863 | 5,769,018 | |
| Additions | 13,219 | 13,219 | |||
| Disposals | |||||
| Total costat 31August 2023 | 4,770,088 | 728,285 | 283,863 | 5,782,236 | |
| Accumulated depreciation |
|||||
| Balance at 1stSeptember 2022 | 2,982,893 | 594,055 | 180,322 | 3,757,271 | |
| Charge for the year | 187,013 | 50,541 | 17,404 | 254,958 | |
| Disposals | |||||
| Total depreciation at 31August 2023 |
3,169,907 | 644,596 | 197,726 | 4,012,229 | |
| Net book value | |||||
| At31stAugust 2023 | 1,600,181 | 83,689 | 86,137 | 1,770,007 | |
| At 31stAugust 2022 | 1,787,195 | 121,011 | 103,541 | 2,011,746 | |
| INVESTMENT INCOME | |||||
| 2023 | 2022 | ||||
| 6 | 6 | ||||
| Interest -Investment funds |
49,749 | 56,300 | |||
| Interest -Property funds |
16,276 | 16,276 | |||
| Interest -Fixed Interest Securities |
501 | 673 | |||
| Interest on cash deposits | 1,838 | 46 | |||
| Interest reinvested | 13,922 | 13,269 | |||
| 82,286 | 86,564 |
| GRANTS AND DONATIONS | |||
|---|---|---|---|
| 2023 | 2022 | ||
| E | E | ||
| The Donald &Patricia Marsh Charitable Trust | 100,000 | ||
| Archbishops' Council |
44,953 | 24,000 | |
| Methodist Diaconal Order | 10,000 | 10,000 | |
| Queen's Methodist Chaplaincy |
Donation | 8,000 | |
| StJohn's College | 150,000 | ||
| Westminster College Trust |
50,000 | ||
| Anonymous | 7,408 | ||
| StBoniface Trust (Mission) | 2,786 | ||
| Seedcorn Grant | 1,750 | ||
| United Friends ofQueens | |||
| Other donations 61,000 or less | 1,016 | 1,450 | |
| 255,969 | 155,394 |
==> picture [141 x 8] intentionally omitted <==
| 2023 | 2022 | ||
|---|---|---|---|
| K | 6 | ||
| Market value brought forward | 2,912,914 | 2,978,731 | |
| Dividends received and |
reinvested | 13,922 | 13,269 |
| Purchase ofInvestments | |||
| Sale ofInvestments | (250,000) | ||
| Profit on sale/redemption | ofinvestments | (4,137) | |
| Net unrealised profit on |
revaluation | 114,613 | 79,086 |
| Closing market value | 2,558,087 | 2,912,914 | |
| Historical costat 31stAugust: | 945,777 | 1,003,229 |
| 2023 | 2022 | |||
|---|---|---|---|---|
| E | E | |||
| Investments | at market value comprise: | |||
| Investment | fund income | shares | 2,223,128 | 2,503,001 |
| Property funds | 312,436 | 387,564 | ||
| Fixed interest securities | fund income shares | 22,522 | 22,349 | |
| 2,558,087 | 2,912,914 |
| 6 | DEBTORS | ||
|---|---|---|---|
| 2023 | 2022 | ||
| 6 | E | ||
| Debtors | 49,980 | 127,052 | |
| Other Debtors | 57,840 | 75,467 | |
| 107,820 | 202 519 | ||
| 7 | CREDITORS - AMOUNTS DUE WITHIN ONE YEAR | ||
| 2023 | 2022 | ||
| E | E | ||
| Trade Creditors | 68,956 | 85,900 | |
| Other Creditors | 16,617 | 11,271 | |
| Tax &Social Security | 29,767 | 20,386 | |
| Accruals &deferred income | 22,844 | 29,450 | |
| 138,184 | 147,007 |
==> picture [6 x 8] intentionally omitted <==
| RESTRICTED FUNDS | Movement | Movement | in Funds | ||||
|---|---|---|---|---|---|---|---|
| Balance | Incoming | (Expenditure) | Transfers | Balance | |||
| 01/09/22 | Resources | &Gains | In / (Out) | 31/08/23 | |||
| E | E | E | E | ||||
| Consolidated Fund |
140,015 | 3,847 | (2,400) | 141,463 | |||
| Methodist Building Grants: | |||||||
| Library Extension | 196,215 | (22,118] | 174,097 | ||||
| New Building Refurbishment | 74,800 | (6,800) | 68,000 | ||||
| Heating overhaul | 148,843 | (24,807) | 124,036 | ||||
| Mission Centre Fund | 57,530 | 57,530 | |||||
| Principals Discretionary |
Fund | 4,290 | (472] | 3,818 | |||
| OFS | 25,074 | (25,074) | |||||
| MEET | 15,113 | 27,968 | (24,641) | 18,440 | |||
| P'ship in Theological Education | 209,305 | 158,195 | (98,179) | 269,321 | |||
| Seedcorn | 950 | (950) | |||||
| The Donald &Patricia Marsh | 100,000 | (2,068] | 97,932 | ||||
| Charitable Trust |
|||||||
| Westminster College Trust |
50,000 | 50,000 | |||||
| StJohn's College Nottingham | 150,000 | 150,000 | |||||
| Methodist Diaconal Order |
10,000 | (10,000] | |||||
| Other | |||||||
| 947,061 | 425,084 | (217,508) | 1,154,637 |
| COMPARATIVE FOR | RESTRICTED | RESTRICTED | FUNDS | Movement | Movement | in Funds | ||
|---|---|---|---|---|---|---|---|---|
| Balance | Incoming | (Expenditure) | Transfers | Balance | ||||
| 01/09/21 | Resources | &Gains | In/ (Out) | 31/08/22 | ||||
| E | E | E | E | E | ||||
| Consolidated Fund |
142,838 | 3,805 | (6,628) | 140,015 | ||||
| Methodist Building Grants: |
||||||||
| Library Extension | 218,333 | [22,118] | 196,215 | |||||
| New Building Refurbishment | 81,600 | (6,800] | 74,800 | |||||
| Heating overhaul | 173,650 | [24,807] | 148,843 | |||||
| Mission Centre Fund | 57,530 | 57,530 | ||||||
| Principals Discretionary |
Fund | 4,300 | (10] | 4,290 | ||||
| OFS | 30,288 | (30,288) | ||||||
| MEET | 27,118 | (12,005] | 15,113 | |||||
| P'ship in Theological | Education | 114,075 | 179,175 | [83,945] | 209,305 | |||
| HMRC IRS | ||||||||
| Methodist Chaplaincy |
8,000 | (8,000] | ||||||
| StAugustine's Fdn |
9,260 | [9,260] | ||||||
| Seedcorn | 1,750 | [UUU) | 950 | |||||
| The Donald &Patricia | 100,000 | 100,000 | ||||||
| Marsh Charitable Trust |
||||||||
| Methodist Diaconal Order |
10,000 | (10,000) | ||||||
| Other | 7,515 | 7,515 | ||||||
| 828,705 | 340,533 | [222,176] | 947,061 |
| ANALYS | I | S | OF NET ASSE | TS BETWEEN | FUNDS YEAR ENDED 31A | UG 2023 | ||
|---|---|---|---|---|---|---|---|---|
| Unrestricted | Restricted | Endowment | Total | |||||
| Funds | Funds | Funds | Funds | |||||
| E | E | 6 | ||||||
| Tangible | Fixed Assets | 1,255,406 | 366,133 | 148,468 | 1,770,007 | |||
| Investments | 2,416,624 | 141,463 | 2,558,087 | |||||
| Current | Assets | (73,796] | 647,042 | 573,245 | ||||
| Creditors | - Within one year | 138,184 | 138,184 | |||||
| 3,460,050 | 1,154,637 | 148,468 | 4,763,155 | |||||
| NOTE: | The | Endowment | Fund includes | grants repayable on the dissolution ofthe |
College to: | |||
| The Central | Board ofFinance ofthe Church ofEngland | 80,000 | ||||||
| The Trustees for Methodist | Church Purposes | 68,468 | ||||||
| 148,468 |
| The Restricted Fund includes grants repa | yable on the dissolution |
ofthe College | to: | |
|---|---|---|---|---|
| The Trustees for Methodist | Church Purposes | 468,532 | ||
| COMPARATIVE FOR ANALYSIS OF NET ASSETSBETWEEN FUNDS | 2021-2022 | |||
| Unrestricted | Restricted | Endowment | Total | |
| Fundsf | Funds E |
Fundsf | Funds | |
| Tangible Fixed Assets | 1,352,058 | 419,858 | 239,830 | 2,011,746 |
| Investments | 2,772,899 | 140,015 | 2,912,914 | |
| Current Assets | 55,060 | 387,188 | 442,248 | |
| Creditors - Within one year | (147,007) | [147,007] | ||
| -After one year | ||||
| 4,033,010 | 947,061 | 239,830 | 5,219,901 |
| Designated | Funds | ||||||
|---|---|---|---|---|---|---|---|
| Balance | Incoming | ReSOurCeS | Gains, [l.oases) | Balance | |||
| 01/09/22 E |
Resources f |
Expended E |
aAaocatioas f |
Transfers E |
31/08/23 E |
||
| AD 2062 Stephen | 684,166 | 13,922 | 698,088 | ||||
| Lloyd Fund | |||||||
| Research Fund | 86,498 | 86,498 | |||||
| Operating | |||||||
| expense reserve | 1,000,000 | 1,000,000 | |||||
| 1,770,664 | 13,922 | 1,784,586 |
| Unrestricted | Unrestricted | Funds | |||||||
|---|---|---|---|---|---|---|---|---|---|
| Balance | Incoming | Resources | Gains, (Losses) | Balance | |||||
| 01/09/22 | Resources | Expended | aAllocations | Transfers | 31/08/23 | ||||
| E | E | E | E | E | |||||
| Designated | funds | 1,770,664 | 13,922 | 1,784,586 | |||||
| Unrestricted | funds | 2,262,346 | 1,665,288 | [2,135,821] | (116,350) | 1,675,463 | |||
| 4,033,010 | 1,679,211 | 2,135,821 | 116,350 | 3,460,050 |
| Balance | Incoming | ReSOurCeS | Gains, (Lasaaal | Balance | ||||
|---|---|---|---|---|---|---|---|---|
| 01/09/21 | Resources | Expended | aAllocations | Transfers | 31/08/22 | |||
| E | E | E | E | E | E | |||
| AD 2062 Stephen | 670,897 | 13,269 | 684,166 | |||||
| Lloyd Fund | ||||||||
| Research Fund | 86,498 | 86,498 | ||||||
| Operating | ||||||||
| expense | ||||||||
| reserve | 1,000,000 | 1,000,000 | ||||||
| 1,757,395 | 13,269 | 1,770,664 | ||||||
| Comparatives | for | Unrestricted Funds |
||||||
| Balance | Incoming | ReSOurCeS | Gains, (Lasses) | Balance | ||||
| 01/09/21 | Resources | Expended | aauacatiaaa | Transfers | 31/08/22 | |||
| E | E | E | E | |||||
| Designated | funds | 1,757,395 | 13,269 | 1,770,664 | ||||
| Unrestricted | funds | 2,617,489 | 1,873,380 | 2,156,065 | [72,458) | 2,262,346 | ||
| 4,374,884 | 1,886,649 | [2,156,065] | (72,458] | 4,033,010 |
| Movement | Movement | in Funds | ||||||
|---|---|---|---|---|---|---|---|---|
| Balance | Incoming | (Expenditure) | Transfers | Balance | ||||
| 01/09/21 | Resources | &Gains | In/ (Out) | 31/08/23 | ||||
| E | E | E | E | E | ||||
| Consolidated Fund |
142,838 | 7,652 | (9,028] | 141,463 | ||||
| Methodist Building Grants: |
||||||||
| Library Extension | 218,333 | (44,236) | 174,097 | |||||
| New Building Refurbishment | 81,600 | (13,600] | 68,000 | |||||
| Heating overhaul | 173,650 | (49,614] | 124,036 | |||||
| Mission Centre Fund | 57,530 | 57,530 | ||||||
| Principals Discretionary | Fund | 4,300 | (482] | 3,818 | ||||
| OFS | 55,362 | [55,362) | ||||||
| MEET | 27,118 | 27,968 | [36,646] | 18,440 | ||||
| Partnership in Theological Education |
114,075 | 337,370 | (182,124] | 269,321 | ||||
| Methodist Chaplaincy |
Donation | 8,000 | (8,000] | |||||
| StAugustine's Foundation |
9,260 | [9,260] | ||||||
| Seedcorn | 1,750 | [1,750] | ||||||
| The Donald &Patricia | Marsh | |||||||
| Charitable Trust |
100,000 | [2,068] | 97,932 | |||||
| Westminster College Trust |
50,000 | 50,000 | ||||||
| StJohn's College Nottingham | 150,000 | 150,000 | ||||||
| Methodist Diaconal Order |
20,000 | [20,000) | ||||||
| Other | 7515 | 7,515 | ||||||
| 828,705 | 765,617 | 439,684 | 1,154,637 |
| Designated Funds |
|||||||
|---|---|---|---|---|---|---|---|
| Balance | incoming | Resources | Gains, (Lossesl | Balance | |||
| 01/09/21 | Resources | Expended | RABocations | Transfers | 31/08/23 | ||
| 6 | f | 6 | 6 | ||||
| AD 2062 Stephen Lloyd Fund | 670,897 | 27,191 | 698,088 | ||||
| Research Fund | 86,498 | 86,498 | |||||
| Sixmonths operating | expenses | 1,000,000 | 1,000,000 | ||||
| 1,757,395 | 27,191 | 1,784,586 |
| Unrestricted | Unrestricted | Funds | ||||||
|---|---|---|---|---|---|---|---|---|
| Balance | incoming | Resources | Gains, [Losses] | Balance | ||||
| os/09/21 | Resources | Expended | li Agocations | Transfers | 31/08/23 | |||
| 6 | f | 6 | 6 | 6 | E | |||
| Designated | funds | 1,757,395 | 27,191 | 1,784,586 | ||||
| Unrestricted | Funds | 2,617,489 | 3,538,669 | (4,291,886) | (188,808) | 1,675,463 | ||
| 4,374,884 | 3,565,861 | (4,291,886) | (188,808) | 3,460,050 |
| INCOMING RESOURC | ES F | ROM | CHARITABLE ACTIVITIES | ||
|---|---|---|---|---|---|
| 2023 | 2022 | ||||
| E | 6 | ||||
| Student Fees | |||||
| Centre for Ministerial | Formation | 792,315 | 841,517 | ||
| Centre for BlackTheology | 62,020 | 76,803 | |||
| Centre for Discipleship | Theology | 71,098 | 98,670 | ||
| Centre for Continuing | Ministerial | Education | 34,288 | 69,220 | |
| Partnership in Theological |
Education | 158,195 | 179,175 | ||
| Research | 59,872 | 82,432 | |||
| 1,177,788 | 1,347,817 | ||||
| Accommodation Charges |
|||||
| Accommodation | 427,144 | 485,459 | |||
| External Rents in | 39,256 | 19,139 | |||
| Conferences, guests etc. |
65,084 | 98,841 | |||
| 531,484 | 603,439 | ||||
| Total Fees gtAccommodation | Charges | 1,709,272 | 1,951,256 |
| 13 | OTHER INCOME | OTHER INCOME | |||||
|---|---|---|---|---|---|---|---|
| 2023 | 2022 | ||||||
| 6 | E | ||||||
| OFS Income | 25,074 | 30,288 | |||||
| MEET Income | 27,968 | ||||||
| Sundry Income | 3,726 | 3,680 | |||||
| 56,768 | 33,968 | ||||||
| 14 | ANALYSIS OF CHARITABLE | EXPENDITURE | |||||
| 2023 | 2022 | ||||||
| 6 | 6 | ||||||
| Academic &Library Costs | 1,122,749 | 1,103,768 | |||||
| Disabled Student | Expenditure | [Reimbursed) | 13,455 | 4,145 | |||
| Administrative | Costs (excluding Governance) | 492,950 | 454,898 | ||||
| Catering Costs | 198,001 | 197,357 | |||||
| Domestic Costs | 62,149 | 67,875 | |||||
| Premises Costs | 522,536 | 611,605 | |||||
| Governance Costs |
30,451 | 24,139 | |||||
| 2.442.291 | 2,463,786 | ||||||
| 15 | GOVERNANCE | COSTS | |||||
| 2023 | 2022 | ||||||
| E | |||||||
| Salaries —operational |
staff | 23,211 | 17,539 | ||||
| Audit fee | 7,240 | 6,600 | |||||
| 39,421 | 24,139 | ||||||
| 16 | STAFF EMOLUMENTS | ||||||
| 2023 | 2022 | ||||||
| E | 6 | ||||||
| Salary Costs | 1,070,929 | 990,831 | |||||
| National Insurance |
91,595 | 74,917 | |||||
| Pension Costs | 110,160 | 119,966 | |||||
| 1,272,684 | 1,185,714 |
| verage monthly number ofemployees and full ti |
me equ | ivalent [FTE] |
durin | g the ye | ar was as follows; |
|---|---|---|---|---|---|
| 2023 | 2023 | 2022 | 2022 | ||
| FTE | Number | FTE | Number | ||
| Academic and Library | 20.2 | 21.1 | 20.2 | 24.1 | |
| Administrative and Others |
9.7 | 12.2 | 9.1 | 13.0 | |
| 29.9 | 33.3 | 29.3 | 37.1 | ||
| The total amount ofemployee benefits received | by key | management | personnel is |
6198,351[2022: | |
| 6199,535]. | |||||
| 2023 | 2022 | ||||
| Number ofstaff receiving basic salary per annum | |||||
| between 6100,000 - 6104,999 |
| the "Lichfield Scale"national Academic Sta | ffand Benefit Scale: | ||
|---|---|---|---|
| 2023 | 2022 | ||
| E | 6 | ||
| B ry asic Sala |
33,198 | 32,304 | |
| Payments in lieu ofpension contributions |
|||
| Dividends | |||
| Performance Related Pay |
|||
| Pension Contributions | 4,648 | 4,505 | |
| Salary Sacrifice Arrangements | |||
| Compensation for loss ofOffice |
|||
| Any other pension scheme costs | |||
| Other taxable benefits: | |||
| BookAllowance | 301 | 776 | |
| Travel Allowance | 2,043 | ||
| Governors' Discretionary Payment |
13,279 | 7,500 | |
| Responsibility Point Payment |
3,167 | ||
| (based on the number ofstaff in addition to | the Principal] | ||
| Other non-taxable benefits: |
|||
| On-site Accommodation | 12,800 | 9,427 | |
| Other remuneration: | |||
| Egsabbatical payments |
==> picture [161 x 41] intentionally omitted <==
| 2023 | 2022 | ||
|---|---|---|---|
| 6 | E | ||
| The auditors remuneration | is comprised of:- | ||
| Audit Fees | 7,240 | 6,600 | |
| Other Services | |||
| 7,240 | 6,600 |
| 2023 | 2022 | |||
|---|---|---|---|---|
| 6 | E | |||
| Not later than one year | 12,602 | 12,602 | ||
| Later than one and not later than five years | 25,188 | 29,366 | ||
| Later than five years | ||||
| RECONCILIATION OF NET INCOME |
TO NET CASH FLOW | FROM OPERATING | ACTIVITIES | |
| 2023 | 2022 | |||
| 6 | E | |||
| Net income/(expenditure) for |
the year | [456,746) | (315,690] | |
| Interest receivable | (82,286) | [86,564] | ||
| Depreciation and impairment |
oftangible | fixed assets | 254,958 | 260,653 |
| Losses/(Gains] on investments |
118,750 | 79,086 | ||
| (increase]/decrease in debtors |
94,698 | 196,603 | ||
| increase/(decrease] in creditors |
(8,823] | 15,904 | ||
| Net cash flow from operating | [79,449] | 149,992 | ||
| activities |
==> picture [144 x 39] intentionally omitted <==
==> picture [428 x 66] intentionally omitted <==
| I6ofpensionable | stipends | January 2018to | January 2021to |
|---|---|---|---|
| December 2020 | December 2022 | ||
| Deficit repair contributions | 119% | 7.1St |
| fS DETAILS OF GRANT AND | FEEINCOME | ||||
|---|---|---|---|---|---|
| Year ended 31Au | 2023 | Yearended31Au | 2022 | ||
| Grant income from the 05 | E,OOO 25 |
E,OOO 30 |
|||
| Grant income from other bodies | |||||
| Fee income for tau ht awards | 774 | 1,022 | |||
| Fee income for research awards | 60 | 82 | |||
| Fee income for non-ouali in |
courses | 344 | 244 | ||
| Total rant and fee income |
1,203 | 1,380 |