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GLOBAL EDUCATION OREGON IN LONDON
LEGAL AND ADMINISTRATIVE INFORMATION
Trust••$
D Galvan
E Richardson
H Peterson
IAppointed 1 December
20201
IAppointed 1 December
20201
IAppointed 6 Decernb8r
20211
K Hampton
W ￿)hnSon
Charity number
1113838
Company nUM￿r
04836201
R•glstèr•d offle*
6 Greal James Street
London
WC1N 30A
Ind•pend•nt •xamln•r
Wesl & Bery Limrted
Mocatta House
Trafalgar Place
8righton
8N14DU

GLOBAL EDUCATION OREGON IN LONDON
CONTENTS
Page
Trustees report
Statement of trustees responsibililies
Independent examinerf5 report
Statement of financial activitios
Stalem8nl ol financial F¥)silion
Notes to the financial ststemenls
10-17

GLOBAL EDUCATION OREGON IN LONDON
TRUSTEES REPORT (INCLUDING DIRECTORS, REPORT
FOR THE YEAR ENDED 30 JUNE 2021
The trustees present their annual ￿port and finanual statemenls for the year ended 30 June 2021.
Th& fin8n¢i81 statements have been prepared in a¢¢ordan¢e with the a¢¢ounting tx)liues set out in note 1 10
the financial staternents and comply wth the charitys Memorandum and Artides of AsscKiation. the
Companies Act 2006 and -Accountin9 and Reporting by Charities.. Statement of Recommended Practice
applicable to ¢h8ritl8s preparing their acwunts In accordance with the Financial Reporting Stand8rd
applicable in the UK and Republic of Irdand {FRS 1021- las amended for aco>Jnting periods o)mmencing
from 1 January 20191.
Oblectlves and aCtIv￿e5
Mls$lon stat•m•nt
The mission of the trustees ol Global Education Oregon in London is 10 5UPPOrt the development and
enhancement ol programming for Global EduCat￿n Oregon students in the UK. In particular, the trustees
supp(>rt th& dèvèlopment and $nhan¢emtrnt ol adivilies which further the inlegrab.on of students into British
life and the growth ol students. understanding of British culture. This support indudes..
Providing advice, support, and guidance lo Global Education Oregon in London staff as they develop
co-curricular and extracuryicular programming. including intemships. voluntary opportunities, cultural
activities. and social programming that engages Global Education Oregon in London participants with
Bnlish students and the larger British community.
Engaging personally in existing programming activiti8s and 8ncouraging th8 involvem8nt ol othgr
alumni and colleagues in existing programming activities with students, as possible and appropriate.
Bringing new opportunities and possibilities for programmg developmgnl to tho attention of Global
Education Oregon in London staff.
Our aim$
Global Educ31ion Oregon in London is governed by a Memrandum and Art￿e$ of A8sociats'on dated 8 July
2003, as amended.
The objec15 of Global Education Oregon in London are to eslablish and fflaintain a university in London, and
at such other locations as th8 truslees shall from tim8 to tim8 detemiine, at which students may advance their
edu¢alion.
We aim to provide up to 250 undergraduate students from American universities wth study abroad
programrnes in London every year. We promole Ihe academic. soci818nd cultural development of students
through the provision ol activities and study. We provide a lonjm for every student to develop themselves and
to contribute to the wider community. We also faalitate culbjral exchange ￿tween thè US and the UK and
promote muf¢in8lion81 understanding.
Our oblèctiv•s
Our objectives are sel lo refled our educab'onal aims and Ihe ethos of Glob81 Education Oregon in London. In
setting our objectives, we confirni thal we have given careful consideraknon to Ihe Charity Commission's
general guidancè on public benefft.
Our key objedive5 for the year in¢lude(l..
To continue lo maintain high academic standards and ensure curriculum integrat￿n for University of
Or6gon and partner stLJdents.
To focu5 efforts on alumni oulreach. cultural engagement and exchange.
To design, promote and deliver GEO Elements.. leclures and virtual tours iniegrated into classes at
the University of Oregon and partners and delivered remotely from London.
To continue planning for one new f811 semester and one new fall quarter programme.
To successfully launch the new quarter programmes cancelled this year because of the pandemic.
safety pemiitting.

GLOBAL EDUCATION OREGON IN LONDON
TRUSTEES REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2021
Ganeral infomiation on th8 way that Global Education Or8gon In London ap•rat8s
General background
Global Education Oregon is the study abroad office of the University of Oregon. Global Education Oregon
creates pathways to intemational. experientsal leaming for students. faculty and university partners.
Undergradu8t8 Students frorn US universities apply for study abroad programmes through their horne
university. These are run in various locations throughout the world by partner organisations. In London they
are run by Global Education Oregon in London.
The University of Oregon charges sbjdents for these study abroad programmes. Fees for the 2020-21
academic year are set out below.
Global Education Oregon in London receives donations from the University of Oregon. These donations cover
the projected operational costs of all pr(yJramme$ run by Global Edu(alion Oregon in London and are
unrelated lo income frorv sludenl lees.
Our •tho$, strat¢gy and poll¢l¢s
We sel strategies to achieve the objectives that have been set. The focus of Ihe strategy is the developrnenl
ol ihe students that take part in Ihe prc4Jramme. In iaking loTh¥ard our stralegy we=
Review the quality of education offered and ensure ihal it 15 Worthy of credit at the horne universrties
ol the students.
Ensure that the range ol wurricular aclivilies available lo the students is enriching.
Cornplete sludenl evaluations to ensure that Ihe needs of students are met.
Invest in the appropriate training of Global Education Oregon in London staff.
Work with the University ol Oregon lo ￿VIeW the awarding of ￿￿8rshipS. in particv18r those that
ensure wide access 10 Students from different backgrounds.
Co-operate with study abroad programme$ wn by tho Univorsty of Orégon in other countriès to
la¢ilit8tts cultural exchange.
We do not i¢J9ntify any potgntial detrimgnt or hami from thg adivities of Global Education Oregon in London.
Global Education Oregon in London is commilted to saleguardiThJ and promotsng the welfare of students. All
staff arè 8XPÈCt8d to sharè in this wmmilmènt. Appropriatè training is providèd for staff to ènhance and
develop their skills in this area. Siudents have acce55 to pasloral care services throughout their programme of
study. Global Education Oregon in London is an eqL￿1 opportunitses ODJanisatson and is committed to a
working environment that is free from discrimination.
The Iru51ees have paid due regard lo guidanc* i55ued by the Chaiity Commission in deciding what aclivrtiès
the charity should undertake.
Achievements and performance
Prlneipal activlti•s
This year the 8otivilies of Global EducalN)n in Lor￿On were reslricled by the ongoing p8ndemic. We
were, however, able lo resume in-person study abroad programming pathay Ihrough the year. We hosted five
study abroad students from the University of Ore9on from April-june 2021. This pilot programme was a hugè
success and we plan to continue offering in-person opportunities Ihrovghout 2021. We have continued lo offer
remote study abroad ackn'vities and experiences for the University of Oregon and partner students.
Global Education Oregon in London ordinarily uses the flat in Great James Slreel to host visiting research
faculty from the University of Oregon, Ihereby facilitab'ng inlemational research. This activity was not possible
this financial year because of restrictions on intemational travel. We plan to resume this activity in summer
2021.

GLOBAL EDUCATION OREGON IN LONDON
TRUSTEES REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2021
Impact of thè pandèmic
Global Education Oregon in London was heavily imp#Ll￿ by the p8ndemic in 2020-21.
As study abroad programmes were not able to run lor mud) ol the year. the University of Oregon did not
receive student fees for London programm85 from July 2020 lo March 2021. Despite this, the University of
Oregon continued to finance ongoing runniThJ expenses for Global Education Oregon in London. These
running expenses were reduced as far as possible through the Coronavirus Job Retention Scheme and.
unfortunately. staff redundancy Measures. Global Education Oregon in London would like lo thank the
University of Oregon for their o)ntinued donalbons and support during this difficult time.
Global Education Or8gon In London will continue running virtu81. remote experiences for University ol Oregon
and partner students while the pandemic continues. In-person programmes have now resumed. Global
Education Oregon in London will ensure th$ Safety and wellbeing ol all stskeholders by followng government
COVID secure guidance.
Studont •nrolm•nt
This year Global Educatson Oregon in London hosted five students in person in Spring 2021. These student5
participated in our new Psychology spring quarter programme. This post-COVID pilot programme was hugely
su¢cessltJl. W$ plan lo Continue off$nng In-person prtyJrammes for the rost of 2021 and beyond.
Academlcs
Global Education Or8gon in London continues to maintain hyh acadamic standards. Our programm8s ar8
rigorous, high-quality leaming experiences Ihal satisfy major and general education requir8m8nls in order lo
ensure progress towards degree coM￿ebon for bolh University of Oregon and partner sludents. Our classes
promote in4epth and inleractive study ol London, Britain, and the worfd beyond.
Global Education Oregon ordinarily offers siudenis ihe option io add an internship for academic credit,
promoting cultural integration and the opportunity lo develop pre-professional experiènce. This year wè wer8
able lo offer virtual. remote intemships to slvdents Irom the University of Oregon. We plan lo resume in-
person internships in fall 2021.
Selection ol students for the programrne run by Global Eduealion Oregon in London is made by Ihe individual
universities based on a sludent's good standing with their home campus. Good standing includes seriousness
ol purpose, acadèmic achièvement, and individual stability and malurity. Both we, as the trustèes of Global
Education Oregon in London. and Ihe University ol Oregon. affirm and actively promote the right ol all
individuals to equal opportunity in education without regard to race, colour, sex, national origin, age, religion.
marital status, disability. veteran ststus, sexual orientsti(M). ggnder idèntity and gend&r expression. Therg 1$ no
di5crirninalion on any of these grounds or on Ihe financial background of the 51udenl in selection by the
University of Oregon for the programme run ty Global Education Oregon in London.
Ca-eurrieular aetiviti•s
Global Education Oregon in London provides a rich selection ol cultural activities and both in-class and out-of-
class excursions for students. This co-curricular programme augments and enhances the academic
exp8rience. The activitlgs b8nefit both the stud8nts and th8 institub.ons visited (through the paym8nt of
admission fees, purchase of guides and programmes, and so onl. Considerable effort goes into offering the
broadesl experience possible.
This year the irnpact of COVID regulations meant that not all of our usual oxurricular acb'vities were possible.
We were still able to offer students a broad and enriching cutiural experience frtusing on outdoor and soaally
distanc8d activities and events, includirbg meeting University of Oregon alumni.
Flnanclal ald. scholarshlps and access
Students pay fee5 to the University of Oregon for the programmtrs that are run by Global Education Oregon in
London. The fees are competitive within the study abroad field and both the University of Oregon and Global
Education Oregon in London pursue a policy of not making supplementary charges On￿ a student has begun
the wurse ol study.

GLOBAL EDUCATION OREGON IN LONDON
TRUSTEES REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2021
Flnanclal r•vl•w
The conts'nued irnpact of the coronavirus pandem￿. including the second and third national lockdowns in
England in November 2020 and January lo earfy March 2021, meant that in-person classes were unable to
resume unbl the spring semester, in April 2021. The charity conts.nued to offer remote leaming and virtual
experiences, which rt had started to develop in response to the onset of the pandemic in March 2020.
The results for the year reflect the impact of Covid-19 bolh in tem15 of the reduced cos15 in offering a virtual
learning experience for the majority of the financial year, and also the reduced donations from the University
ol Oregon in its support of Global Education Oregon in London to cover those programme costs. Total income
for the year was £469.176 12020.. £1.107.3161. this includes £52.461 12020.. £29.5271 Coronavirus job
retention scheme granl income from the UK government. Expenditure lor the year was £462,335 12020..
£1,103,270). resvlts'ng in a Small stjrplus of £6.841 lof Ihe yeaf.
Rts•rve• Pollcy
It has been the policy of the charity that unresiricted funds which have not been designated for a specific use
should be maintained al a level equivalent to between three and six months expenditure. The trustees
consider that reserves al this level would ensure that. in Ihe evenl of a signfficanl drop in funding or an event
such as the Covid-19 pandemic will ensure Ihe charity's ability to continue its current activities while
consideration Is given lo ways in which additional lunds may be raised. The Charity has been building up the
level of reserves over the last year5. Unrestricted reserves al the year end were £95,312 12020..
£88,471).
Rlsk m¥nagem•nt
We are responsible lor overseeing the risks fa&ed by Global Education Oregon in London. Risks are identified
and assessed throughout the year. We are salisfied that any major risks have been adequately mitigatèd
where necessary and we have undertaken 8n overall risk assessment, as well as a COVID risk asstrssmenl.
We recognise that systems can only provide reasonable bul not absolute assurance that major risks have
been adequatèly managed.
Future plans
We intend to continue to provide an excellent educational experience for siudents enrolled in our
programmès. More sp8cifically. wè aim to achi8ve the folk)wng".
To continue lo maintain high academic standards an¢J ensure curriculum integration for University of
Oregon and partner sludenls.
To focus efforts on alumni oulreach, cultural engagement and exchange.
To continue to salely njn in-person programmes in-line wilh curren¢ government guidance.
To successfully launch our new fall semester programrne.
Structure, governance and management
Global Education Oregon in London is a company limited by guarantee with company registration number
04836201, and is govem811 by its Memorandum and Articles ofAssociation. Global Education Oregon in
London is also a registered educational charity, with charity registration number 11138.
All trustees give their time freely and are not paid for their services. The Tnjstees, who are also the directors
for the purpose of wmpany law, and who serveil durirvJ Ihe ye8rwere:
E Richardson
S Eriksen Iresigne(123 Novernb8r 2021)
D Galvan
M Pierce Hunter Iresigned 2 December 2020)
K Hampton lappoinled 1 December 20201
H Peterson (appointed 1 December 20201

GLOBAL EDUCATION OREGON IN LONDON
TRUSTEES REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2021
Edana Richardson was the chair of the Board of Tnjslees of the charity lthe'Board'l ihroughout the year.
During 2020-21 the Board met on four (￿caSIOns. 3 September 2020. 1 December 2020, 15 March 2021, and
3 June 2021.
Trustees are recruited on the basis of their existing relevant knO￿edge. Information relating to Global
Education Oregon in London's legal status. finances and activilies are provided in advance of appoinlment.
Truste85 are expected lo identify their own training needs and to tske measures to ensure that these needs
are mel.
Policy is set by the Board and the daY-t￿daY management exerused by DrAm3nda Milbum, Director ol
Global Education Oregon in London. who is assisted by a team of stsff In London.
The Board meets at regular int&Nals to di$¢uss and review a¢ademi¢. administrative. finance. developmgnl
and planning matters.
The 8oard may, from time lo tlme, appoint any person as a member of the Board 8lther to fill a casual vacancy
or by way ol addition lo the Board. subjecl lo the provisions ol the Articles olA55ccialion. Any member 50
appointed shall retain office only until the next Annual General Meeling at which helshe shall be eligible for r
ele¢lion. Al the Annual General Mèètsng In every year, one third ol Ihe members of the Board retires by
rotation, but are eligible for reryelection.
None of the Trustees has any beneficial interest in the ￿mpanY. E Richardson and D Galvan are m8mb8rs of
the company and guarantee to coniTibule £1 in Ihe evenl ol a winding up.
Rernunerallon of key management Is sgt In conluncuon wrth the Tru$lees.
Thg twstges report was approvgd by tho Board of TnJ$tee$.
E Richardson
Trustee
Dated..
11.04.2022

GLOBAL EDUCATION OREGON IN LONDON
STATEMENT OF TRUSTEES RESPONSIBILITIES
FOR THE YEAR ENDED 30 JUNE 2021
The tnjstees, who are also the directors of Global Education Oregon In London for the purpose ol company law,
are responsible for preparing the Trustees Report and the financial statements in ac(x)rd8nce with applicable law
and United Kingdom Accounting Standards Iunited Kingdom Generally Accepted Accounting Practice).
Cornpany Law requires the Irustses to prepare finanryal statements for each fin8nci81 year which giv9 8 true and
fair view ol the state of affairs of the charity and of the incoming resources and application of resources, including
the income and expenditure. ol the d)arilable company for thal year.
In preparing these financial statemenls. the trustees are required to..
- select suitable 8ccounbng policies and Ihen 8ppty thern consislenuy..
- observe thg methods and principles in the Chaiiti$s SORP:
. make judgements and estimates that are reasonable and wdent:
51ale whether applicable UK A¢￿untIng Stsndards have been followed. subject to any material departure5
disclosed and explained in Ihe financial stalements: and
prepare the financial statements on the going concem basis unless it is inappropriate to presume that the
charity will continue in operation.
The trustees are responsible for keeping adequate accounting records Ihat disdose with rea50nable accuracy al
any lime the finanaal position ol the charity and enable them to ensure that the financial sialements comply with
the Companitrs Act 2006. They a￿ also reskY)nsible lor $8legu8rding the asstrts ol the ch8rity and henc8 for
taking reasonable steps lor the prevenknon and delection of fraud and other irregularities.

GLOBAL EDUCATION OREGON IN LONDON
INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF GLOBAL EDUCATION OREGON IN LONDON
I report to thè trustees on my ¢xaminab"on of the finanoal ststgments of Global Education Oregon In London Ithe
charilyl for the year ended 30 June 2021.
R85ponsibiliti85 and basis of report
As the trustees of the charity land also Its directors for the purposes of company lawl y(MJ are responsible lor the
preparation of the financi81 stst8ments in accordance with the requirements of the Gompanies Act 2006 Ith8
2006 Act).
Having Satisfied myself that the financial statements of the charity are nol required to be audited under Part 16 of
the 2006 Act and are eligible IOT independent examination. I report in respect of my examinats'on of the charity's
financial stalements carTied out under section 145 of the Charities Aet 2011 (the 2011 Act). In carrying out my
examination I have followed all the applicable DIrect￿nS given by the Charity Commission under section 145151
Ibl ol the 2011 Act.
Independent examinefs statement
Since the charity's gross income exceeded £250,(NJO your examiner must be a member of a body li8ted in
section 145 of the 2011 Act. I confirm that l am qualified to undertake the examination because l am a member of
the Assoaation of Chartered Certifie(l Accounlanls, which is one of Ihe listed bodies.
I hav8 complèted my èxamination. I wnfifm thal no matters havè com* to my atlontion in ¢onnoction with th
examination giving me Cause lo believe th81 in any material ￿Spect..
accounting records wgre not kept in respÈcl ol the chanty as required by section 386 of the 2006 Act,. or
thè financial statements do not accord wilh those rac¢yds', or
the financial statements do nol comply wth the accounting requifemenis ol section 396 of the 2006 Act
other than any requirement th81 the accounts give 8 Irue lair view which is not a matter considered as
part of an independenl exarnination,. or
thè financial statements have not been prepared in 8¢¢ordan¢e with the methods and principles of th8
Statement ol Recomrnended Practice for accounting and reporting by charities applicable to charits'es
preparin9 their accounts in accor(lan¢e with the Financial Reporlin9 Standard applicable in thg UK and
Republic ol Ireland IFRS 1021.
I have no concems and have Come across no other matters in ¢onne¢lK)n with Ihe &xamin8lion lo which attenlitsn
should be drawn in this report in order to enable a pTopeT urKlerslanding of the financial stalernents lo be
reached.
D We5tbury FCCA
icAel/e Wegtbury FCCA
for and on behalf of West & Bery Llmbted
Mocatta House
Traf8lg8r Place
nghton
N14DU
Dated..
11 April 2022

GLOBAL EDUCATION OREGON IN LONDON
STATEMENT OF FINANCIAL ACTIVITIES
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 30 JUNE 2021
Unrestricted Unrestricted
funds
funds
2021
2020
Notès
Donations and legacies
Other income
Other income- Government furfough schem8
416,715 1.076.149
1.64Ql
29.527
52.461
Total Income
469,176 1.107,316
Charitable activit185
462,335 1.096,751
Othèr expenditure
6,519
Total r•$¢ur¢•$ •xynd•d
462,335 1,103,270
Net Income for the y•arl
Net m¢v•m¢nt In funds
6,841
Fund balances at 1 July 2020
88,471
84,425
Fund lJalance8 at 30 Jun• 2021
95,312
88,471
The statement ol financial activities indudes all gains and losses re¢ognised in the year.
All income and expenditure derTve from continuing act•￿tieS.
The statement ol financAal activi￿.e5 also complies with ihe requirements IOT an income and expenditure account
under th& Companies Act 2(XJ6.

GLOBAL EDUCATION OREGON IN LONDON
STATEMENT OF FINANCIAL POSITION
AS AT 30 JUNE 2021
2021
2020
Not•s
Fixed assets
Tangible assets
10
3.221
7.443
Currgnt ass
Debtors
Cash al bank and in hand
11
197.171
86.233
87.426
220.089
283.404
307,515
Credltors: amounts falling due wSthin
on• yèar
12
{191,3131
1226,4871
Net current assets
92,091
81,028
Total assets less curront liabilitle•
95,312
86.471
In¢ome fund$
Unrestricted funds
95,312
88,471
95.312
88.471
Thè company is èntitlad to the èxèmptKsn from thg audrt raquiremonl contained in section 477 of thè Comp8nias
Act 2006, lor the year ended 30 June 2021.
Th& director acknowledges his responsibilities for complying the requirements of the Companies Act 2006
wllh respect to 8ccounling re¢or(Is and the pYep8ration of finanoal stsleN*nts.
Thè membèrs have not required the company to obtain an audit of rts financial statamants for tho yaar In
utrslitsn in accordance with secti¢)n 476.
These financial statements have been prepared in accordance wilh the provisions applicable to companies
subject lo the small Companies regime.
11.04.2022
The financial slatements were approved by the Trustees on .........................
E Richard$on
Trust••
Company Reglstratlon No. 04836201

GLOBAL EDUCATION OREGON IN LONDON
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2021
A¢¢ountlng poll¢l•$
Charity infomiatSon
Global Education Oregon In London is a private company limited by guarantee incorporated in England and
Wales. The registered office is 6 Great James Street. London. WCIN 3DA.
1.1 Accounting convention
The financi81 statements h8ve been prepared in accordance wth the ch8rity'5 Memorandum 8nd Article5 of
Association, the Companies Act 20C*. FRS 102 The Financial Reporting Standard applicable in the UK
and Ireland l FRS 102,1 and the Chantses SORP -Ac¢ountsng and Reporting by Charib"es.' Stalemgnt ol
Recommended Practice applicable to charities preparing their accovnt5 in accordance with the Financial
Reporting Standard applicable in the UK and Republic of IrelaThJ IFRS 1021" leffectsve 1 January 20191.
Thè charity is a Publi¢ Benèfit Entity as defined by FRS 102.
The financial ststemenls are prepared in sterfing. which is the functional currency of the chanty. Monetary
amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the hislorfcal cost u)nventlon. The prfncipal accountlng
policies adopted are 58t out below.
Th8 accounts CoM￿Y wth FRS 102.
1.2 Golng concern
Al the time ol approving th& flnawal statèmenls. tho trustees have a reasonable expèctatlon that the
charity has adequale re50urce5 to continue in operational eyislence lor the foreseeable lulure. This
includes a review of the ongoing impact of the COVID.19 pandemic on the charity. Thus the trustees
conty'nue lo adopt thg going ¢on¢em basis of a￿OUnting in p￿paring the finanoal $tsl&ments.
1.3 Charbtablo funds
Unreslricled lund5 are available lor use al the di%retitin of the trustees in furtherance of their charitable
objectives.
1.4 Income
Donations are recognised as incoming ￿sourceS in the statement of financial activities on a receivable
basis.
Incorning resources from activities for generaknrrfJ frjnds are recognised when receivable.
1.5 Expenditure
Resources gxpendeij are indudgd in tho Stsloment of Finanual Activities on an accruals basis Indusivg of
any VAT which cannot be recovered.
Costs of raising funds are eX￿nSeS incurred in relation to the acttvities for generating funds.
Direct charitable expenditure a￿ expenses incjjrred direclly in pursuance of the charity's prinaple activity
and support costs relating to thi$ 8divity.
Support costs are those incurred in conneclty)n wth running the charity Ihat enables the charitable activity
to be undertsken.
Governance costs are those incurred in the govemance of the charity and its assets and are primarily
8ssociat8d with constituts.onal and statutory requirements.
10-

GLOBAL EDUCATION OREGON IN LONDON
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2021
Accauntlng pollcles
IContlnu8dl
1.6 Tangible fixed ass8ts
Tangible fixed assets are initially measured at (y)st ar￿ subsequently MeaSu￿d at cost or valuation. nel of
depreciation and any impairnient losses.
Dèprèciation is recognised so as to write off the cost or valuab.on of assets less their residual values ovgr
their useful lives on the following bases..
Leasehold land and buildings
Fixtures and fitti'ngs
Over the tem) of Ihe18a$e
3 years slraight line
The gain or loss arising on Ihe disposal of an asset is determined 8S the difference between the sale
proceeds and the carying value ol the asset. and is recognised in the stalement ol financial ath'vities.
1.7 Im￿1rmeTrt of flxgd a$s¢t$
Al each reporting end date, the ¢harily reviews carrying amounts of its tangible assets lo detemiine
whether there is any indic8lion thai Ihose assets have suffered an impairmenl 1055. 118ny such indication
exists, the recoverable amount of the asset is estimaled in order to delerniine the extent of the impaiment
loss111 any).
1.8 Cash and cash •qulval•nls
Cash and cash equivalents include cash in hand and deposits hekl al call with banks.
1.9 Flnanclal In8trum•nts
The charity has elected lo apply the provisiorbs of Section 11 'Basic Financial Instruments, and Section 12
'Other Financial Inslrum8nts Issues. of FRS 102 to all of its financial instruments.
Financial in51Tuments are recognised in the balanc* sheet when Ihe charity becornes party lo the
contractual provisions of the instrument.
Financial assets and liabilities are offsel, wilh the net amounts presenled in the financial stalernents, when
there is a legally enforceable right lo set off the recognised amounts and there is an intention to settle on a
nel basis (y to realise the asset and setlje th& liability simultsneou$ly.
Baslc flnanGlal assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at
Iransaclion price including transacty.on costs and are 5ubsequenUy carried at 8tnortised cost using th8
effective interest rnelhod unless Ihe arrangemenl constitutes a finanang transact￿n, where the transaction
Is measured at the present value of the future receipts discounted at a market ratè of interest. Financlal
assets cl8ssifie¢J as re¢xivable within one year are rK)t afflorts'se(l.
Basic financial liabillties
Basic finan￿31 liabilities, induding ¢yedrtots and bank loans a￿ inib.ally recognised at transaction price
unless the arrangement constitules a financing Iransaction. where the debt instrument is measured at the
present value ol the ftjture payments discounted at a market rate of interest. Finanaal liabilities classified
as payable within year ar8 not amortised.
Debt instruments are subsequenlly carried at anK￿lised cosl. using ihe effecb've interest rate method.
Trade credthrs are obligations to pay for goods or services that have been acquired in the ordinary course
ol operations from suppliers. Amounts payable are dassified as current liabilities if payment is due within
one y8ar or less. If not, they are presented as non-current liabilities. Trade cr8drtors ar8 recognised inib"8lly
at transaction price and subsequenuy measured at amortiseLI ￿st using the effective interest Method.

GLOBAL EDUCATION OREGON IN LONDON
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2021
Accauntlng pollcles
IContlnu8dl
Derecognition of financial liabilities
Financial liabilib'es are derecognised when the charity's (xjntractual obligations expire or are discharged or
cancelled.
1.10 Employèè bèn•ffts
The cost of any unused holKlay entitlement is recognised in the period in which the employee's services
are received.
Termination benefits are recognised immediately as an expense when the charity is demonstrably
committed to terminate Ihe employment ol an empk)yee or to prO¥￿e lennination benefits.
1.11 Retir•ment ben•frts
Payments lo defined u)ntribulion rel1￿ment benefit schemes are charged as an expense as they fall due.
Crltlcal accounting estlmate8 and judgements
In the application of the charity's accountsrrfJ polirjes, Ihe trustees are required lo make judgements,
estimates and assumptions about the carying amount ol assets and liabilities that are not readily apparent
from other sources. The estimates and associated assumpb.ons are based on historical experience and
other laclors that are considered to be relevanl. Aclual results may differ from these eslimales.
The eslim8¢8s and undedyng 8ssumplions are wiewet1 on an ongoing basis. R8visions lo accounting
estimates are recognised in the period in which the estimate is revised where the revision affects only that
period, or in the ￿rIOd of the revision and future periods vthere the r&vision affects both current and futur&
perfods.
Donallon$ and l•9o¢1•$
Unrnstrlcted Unreslricted
funds
funds
2021
2020
Donats'ons and gifts
416.715 1,076,149
Oth•r In¢ome
Total Unreslricted
funds
2021
2020
Letting and licensing arrangements
1,640
12-

GLOBAL EDUCATION OREGON IN LONDON
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2021
Oth•r In¢om¢- Go¥•mm•nt furlough $¢h•m•
Unrestrfcted Unrestricted
funds
funds
2021
2020
Other income. Govemment fudough scheme
52,461
29,527
Ch•rltabl* •¢tJvlU*$
Aetlvltles
ufftdgrtaken
directly
Support
¢osts
2021
Total
2021
Total
2020
Staff costs
Depreciation and impairm8nt
University property costs
Accommlxlalion and Ir8vel for students & lecture
Excursions and field trips
Educatlonal supplies, Ilteralure & subscriptions
Oth8r dirèct ¢osts
Guest lecturers
Legal, accountancy & bookkeeping
Telephone and orrice cos(s
176.203
43,001
4,222
45.456
219.204
4.222
181.820
22.910
2,279
6,446
2,455
2.422
7.768
10.998
342,095
14.552
182,435
410,51QI
67,406
32,512
6,596
8.36Q
8.459
17.778
136,364
22,910
2,279
6,446
2,455
2.422
7.766
10,998
349,079
111.443
460.S22 1,090,703
Sharg of govgrnan¢e ¢osts1$90 note I
1.813
1.813
6,048
349.079
113,256
462,335 1,096,751
Govemance costs includes £1.500 + vat for independent examination fee 12020.. £5,000 * v81 for audit
lee).
Trust••s
None of the trustees received any remuneration or benefits from ihe charity during the year.
13-

GLOBAL EDUCATION OREGON IN LONDON
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2021
Employ••$
Numbèr of èmploy￿9
The average monthly number of employees duriNJ the year was:
2021
Numbèr
2020
Number
Programme director and lecturers
Support staff
10
Employmènt costs
2021
2020
Wages and salaries
Social security costs
Other pension costs
199,458
16,292
3,454
316.014
21,022
5,059
219,204
342,095
The number of 9mployees whosg annual remuneration was £60,000 or
more were..
2021
Numb•r
2020
NuM￿r
£60.000 - £69.999
Contributions totsling £1,317 12020- £1,3161 were made lo defined ￿ntribUtIOn pension schemes on
behalf of employees whose emoluments exrEed £60.000.
Oth•r èxp•ndltur•
Unr•strlctod
funds
Total
2021
2020
Rental expenses
6,519
6,519
14-

GLOBAL EDUCATION OREGON IN LONDON
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2021
10 Tanglblo flX￿ a$$¢ts
Leasehohl Flxtur•5 and
land and
flI￿r
bulldlngs
Total
Cost
At 1 July 2020
43,801
61,276
105,077
At 30 June 2021
43.801
61,276
105,077
Oepreciation and impairnient
At 1 July 2020
Depreciation charged in the year
43,801
53,833
4,222
97.634
4,222
AI 30 June 2021
43.801
58,055
101,856
Carrylng amount
At 30 June 2021
3,221
3,221
AI 30 June 2020
7,443
7.443
11 Oebtors
2021
2020
Amounts falllng due wlthln on• y•ar:
Other debtors
Prepayments and a¢¢ruèd inc¢)mè
14.036
36.39QI
162,171
162,171
$2,426
2021
2020
Amounts falllng due after more than one year:
Other debtors
35,000
35,000
Total d•btors
197,171
87,426
Other debtors comprise 8 rent depost. which is subject lo a tharge by Ihe landlord.
15-

GLOBAL EDUCATION OREGON IN LONDON
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2021
12 Cr*dltors= amounts falllng du• wtthln on• yoar
2021
2020
Other creijitors
Accruals and deferred income
21.213
170.100
8.410
218.077
191,313
226,487
13 Retlrement bonefft schemes
Oefined contrlbutlon schemes
The charity operates a defined contribution pension xheme for all quali￿.Ag employees. The assèts ol the
scheme are held separately from those of the charity in an independently adrninistered fund.
The charge lo profil or loss in res[￿￿ of defined o)ntn'bution schemes was £3,45412020.. £5,059).
14 Oporatlng l•a8e commllmonts
Al the reporting end dale Ihe charity had outstanding commitments for fvlure mlnimum lease payrnenls
under non-cancellable operating leases, which lall due as follows..
2021
2020
Within one year
120,000
133.333
15 Events after the Nportlng dat•
The charity has had the ongoing support of The University of Oregon since the siart of the pandemic and
this has continu8d throughout this finanaal year. It has also takèn advantagè of tha govèmment furlough
scheme lo support employers and emp￿yeeS thTough the pandemic.
Thè management oversaw the safe retum of face to face leaming from April 2021 and has continLJed to
successfully run in person pr￿f9MmeS throughoul 2021 and 2022. The charity intends to fill currently
vacant staff positions in the near future.
This is a non adjusting event as the charity is operating as a going contxm.
16-

GLOBAL EDUCATION OREGON IN LONDON
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2021
16 Rolatsd party tran$a¢tlon$
R•muneratSon of kay management personn
The remuneration of key management personnel is as follows.
2021
2020
Aggregate compensabon
74,045
74,142
The charity r&¢&ived donatsons from the University of Oregon £456,71412020.' £1.076.1491.
Remuneration of key management personnel lindLKling employers National Insurance) £74.045 12020..
£74,142).
17-