FRIENDS OF THE UNIVERSITY OF WESTERN AUSTRALIA IN THE UNITED KINGDOM AND EUROPE ("the Charity")
Trustees' Annual Report and Financial Statements
Year ended 31 December 2024
FRIENDS OF THE UNIVERSITY OF WESTERN AUSTRALIA IN THE UNITED KINGDOM AND EUROPE
| CONTENTS | Page |
|---|---|
| Regulatory and Charity information | 2 |
| Trustees' report | 3 |
| Independent examiner's report | 5 |
| Statement of financial activities | 6 |
| Balance sheet | 7 |
| Notes to the financial statements | 8 |
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FRIENDS OF THE UNIVERSITY OF WESTERN AUSTRALIA IN THE UNITED KINGDOM AND EUROPE
Regulatory and Charity information
| Registered Charity number | 1121961 |
|---|---|
| Trustees (who have acted during the year) | Catherine Holmes à Court-Mather (Chair) |
| Alexander Barblett | |
| Kristy Duane | |
| Robert Jewkes (Treasurer) | |
| Roland Nattrass | |
| Postal Address | 21 Parkside |
| Wimbledon | |
| London | |
| SW19 5NA | |
| Independent Examiner | David Swan - Chartered Accountant |
| FCA (ICAEW); FCA (CAANZ) |
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FRIENDS OF THE UNIVERSITY OF WESTERN AUSTRALIA IN THE UNITED KINGDOM AND EUROPE TRUSTEES' REPORT FOR THE YEAR ENDED 31 DECEMBER 2024
The trustees present their report, together with the financial statements of the Charity for the year ended 31 December 2024.
Structure, governance and management
Friends of the University of Western Australia in the United Kingdom and Europe is governed by its Trust Deed dated 27 September 2007 (amended 4 April 2011) and was registered with the Charity Commission on 12 December 2007, number 1121961.
The Trustees who served throughout the year are shown on page 2. They are responsible for the overall governance and management of the business of the Charity.
The Charity uses the UWA Alumni list for the UK residents as the basis of trustee recruitment. Connections with a relevant pool of Alumni are maintained and when an existing Trustee indicates their wish to stand down, the trustees discuss an appropriate replacement and approach that person and if they are willing to become a trustee, the Trustee Board resolve to make the appointment.
Objectives and Activities
The Charity’s objectives are for the Trustees to apply the income and all or parts of the capital of the Trust fund towards:
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i) The education of the public by promotion, support, assistance and improvement of the University of Western Australia through the activities of a group of friends in the United Kingdom and Europe.
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ii) The furtherance generally of the charitable purposes of the University of Western Australia and encouragement of the development of the facilities which it affords.
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iii) The making of grants to the University of Western Australia or such charitable institution or institutions having similar objects.
The trustees have referred to the guidance contained in the Charity Commission’s general guidance on public benefit when reviewing their aims and objectives. The policy set by the trustees is to support a variety of charitable projects in the future in making grants to other organisations at their discretion, limited only by any restriction applying to the donations’ income.
Achievements and performance
During the year ended 31 December 2024 Friends of the University of Western Australia in the United Kingdom and Europe, organised and hosted several events:
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Distinguished Alumni Speaker Series. Australian High Commissioner, Professor Stephen Smith, hosted by Shane Gleghorn at Taylor Wessing, 9[th] May.
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Young Alumni drinks evening, 5[th] September.
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Annual Dinner, 8[th] October.
The trustees were also guests at the UWA Reception held in London on 9[th] October.
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FOR THE YEAR ENIXD 31 DECEMBER 2024 In additi. restricted donations Indudlng ¢ft ald were received totall1 £60,64212023: £55314) whith •re payable to the LknIVerty of Westem Austrama for spedfic woiect& The Statement of Flnancial Athftie51SOFA) for the year Is set out on page 6. ft is the poty of the charity to maintain reStrICted funds that can meet aH tharttable actmts arKI are rEvwed on a re8ular basi& The trustees are coftfthnt d the tharirrfs finandal poytknft and future relevaKe and see tt a5 a ofthe Wn8 c(Cern 455UrnPtion. The tne¢S are resp¢sIble for preparing the Tnee< RePt and the finanaal statemerts . accrythrKe with applicable lawand United lQng&Jm Accourrtir¥Standards {Urted Genera Accepted p£c(rn8 PrdctKe). The law applkable to tharitles In Enoand & Wales 1[e5 the trustees to prepare finan¢?al ststements for eath fffiancsal year whith we a tn and fair view ofthe state of affairs of the tharity and dthe Incomi resources and applicatKffi of res(xNces of the (harityforthat period. In wepam8 these fmanaal staternents, the tnstees are required to: select suitable accouftti pdicies and then appty them con51rt, observe the methods ar prindples in the Charfties SORP IFRS102): make judgements and estimates that are reasonable and prudent. state whether applicable •ccwntA w starbdards have been folkhved, subpct to material departures disdosed and explalned in ts finan¢ial statemert%' prepare the finandal statements the 8ok concern ba9"s unless It is iiapwwiate to presume that the dwrlty lll continue In knines& The tnistees are re$SIble for keepirg proper accounti rec(Yds that disdose with reasonable acpjracy at anytirne the fmancial wtion ofthe dbarity and enable them to enswe that the finan statements compfy wrth the thar1 Act 201L the Charity (l£(£MHts and Repryts) Regulat the provisi$ of the tntst deed. Thry are also re5w6ible lor safe8u¥din8 the atsets of the thafity and hence for taking reasonable steps for the Yenth)ft and detectlon d fraud and other Irregularities. Thetnistees are reSPsIblef0rthe maintenance and kntryityofthe ttwity fmandal Mat 5nduded M the chafSt(s website. LeOslatkn kn the United KId g¢Mmlng the preparation and dtsSemirtIOA of finanda statfjnentsmay dlffff frun lepslatbn in othff JurisdIaN& 2ozN- Cathertne Hokne5 a Court-mattw (Chalr) Page 4
FRIENDS OF THE UNIVERSITY OF WEsfERN AUSTRALIA IN THE UNITED KINGDOM AND EUROPE INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES I report to the trustees of Friend5 of the University of Western Australia in the United Klngdom and Europe I'the Charity") for the year ended 31 December 2024. Responslbllltles and basls of Report As trustees of the Charity, you are responsible for the preparation of the accounts of the Charity In accordance with the requirements of the Charities Act 20111"the Art"). I report In respect of my examlnation ofthe accounts ofthe Charlty, carrled out under section 14S of the Act, and in carrying out my examination, I have followed all the applicable Directions given by the Charity Commission under section 145(5){bl of the Act Independent examlner's ststement I have completed my examination. I confirm that no materlal matters have come to my attentlon In connectlon wlth the examinatlon gIn8 me cause to belleve that in any material respect: accounting records were not kept In respect of the Charity as required by section 130 of the Art; or the accounts do not accord wlth those records; or the accounts do not comply wlth the appllcable requirements concerning the form and content of accounts set out In the Charities (Accounts and Reports) Regulatlons 2008 other than any requlrement that the accounts give a "true and falr" vlew whlch Is not a matter consldered as part of an independent examination. I have no ¢oncern5 Ind have come across no other matters in connertlon with the examination to which attentlon should be drawn In thls report In order to enable a proper under5tandln8 of the accounts to be reached. Signed.. IG io Djswan Date Full name: David John Swan Relevant professional qualifications and/or membership of professlonal bodie5: B.Comm' FCA (ICAEWI; FCA IC4ANZ} Addss. Whlte Rose Farm. Hextalls Lane Bletchingley, Surrev. RHI 4QT Page 5
FRIENDS OF THE UNIVERSITY OF WESTERN AUSTRALIA IN THE UNITED KINGDOM AND EUROPE
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2024
----- Start of picture text -----
2024 2023
Unrestricted Restricted
Funds Funds Total Total
Notes £'s £'s £'s £'s
Income from:
Donations 2 625 60,642 61,267 55,914
Charity events 3 1,200 - 1,200 9,955
TOTAL INCOME 1,825 60,642 62,467 65,869
Expenditure on:
Charity events 3 1,100 - 1,100 10,055
Charitable activities 4 72 20,392 20,464 56,137
TOTAL RESOURCES EXPENDED 1,172 20,392 21,564 66,192
Net incoming/(outgoing) resources
for the year 653 40,250 40,903 (323)
Opening fund balances 12,355 3,220 15,575 15,898
Closing fund balances 13,008 43,470 56,478 15,575
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The Notes on the following pages form part of these financial statements
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FRIENDS OF THE UNIVERSITY OF WESTERN AUSTRALIA IN THE UNITED KINGDOM AND EUROPE
BALANCE SHEET AT 31 DECEMBER 2024
| Notes | 2024 | 2023 | |
|---|---|---|---|
| £'s | £'s | ||
| Current Assets | |||
| Cash at bank | 62,740 | 23,348 | |
| 62,740 | 23,348 | ||
| Creditors | |||
| Due within one year | 5 | 6,262 | 7,773 |
| NetAssets | 56,478 | 15,575 | |
| Funds | |||
| Unrestricted Funds | 13,008 | 12,355 | |
| Restricted Funds | 6 | 43,470 | 3,220 |
| 56,478 | 15,575 |
----- Start of picture text -----
by the Trustees on 2025 and signed on their behalf by
me 0 Oat
Ri kes - Treasurer
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The Notes on the following pages form part of these financial statements
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FRIENDS OF THE UNIVERSITY OF WESTERN AUSTRALIA IN THE UNITED KINGDOM AND EUROPE
NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 December 2024
Note 1 Accounting Policies
The principal accounting policies which are adopted in the preparation of the financial statements are set out below.
A Basis of accounting
The financial statements have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to these accounts. The financial statements have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (second edition) and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011.
The financial statements have been prepared to give a true and fair view of the state of affairs of the Charity at 31 December 2024 and the financial activities for the year then ended, and have departed from the Charities (Accounts and Reports) regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting standard applicable in the UK and Republic of Ireland (FRS 102 second edition) rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.
Advantage has been taken of the exemption for charities with income less than £500,000 from preparing a cash statement. The Charity constitutes a public benefit entity as defined by FRS 102.
The trustees consider that there are no material uncertainties for the Charity's ability to continue as a going concern.
B Income
Income from donations income is recognised in the year in which the Charity is entitled to receipt and the amount can be measured with reasonable certainty.
C Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the Charity to that expenditure, it is probable that settlement will be required and the amount of the obligation can be measured reliably. The Charity is not VAT registered and therefore any VAT incurred is charged against the relevant expenditure item.
D Taxation
The Charity is a registered Charity under the Charities Act 2011 and UK tax is not applicable to its charitable activities.
E Fund accounting
Funds held by the Charity consist of amounts held on trust for the University of Western Australia (UWA), Unrestricted, and Restricted funds. Amounts held on trust are shown as a creditor and are expensed as and when directed by the UWA. Unrestricted funds are available for use in accordance with the charitable objects at the discretion of the trustees. Restricted funds must be applied towards specific purposes or expenditure as directed by the donor(s).
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FRIENDS OF THE UNIVERSITY OF WESTERN AUSTRALIA IN THE UNITED KINGDOM AND EUROPE
NOTES TO THE FINANCIAL STATEMENTS (continued) for the year ended 31 December 2024
F Financial instruments
The Charity only has financial assets and liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans (if any) which would be subsequently measured at amortised cost using the effective interest method.
G Charity events
The Charity organises and hosts certain events aimed at promoting the objects and purposes of the Charity. The related costs of the events may be met in part, or in full, by sponsorship from alumni of UWA. Only those costs borne directly by the Charity are disclosed and any approved drawings from UWA Trust Funds are shown as income. All Charity events are shown in Note 3 to the Financial Statements.
| Note 2 Income Donations - no gift aid Donations - gift aided Gift aid TOTAL INCOME Donations - no gift aid Donations - gift aided Gift aid TOTAL INCOME Note 3 Charity events Rebecca Moore event(24 May 2023) Other income from UWA Trust funds Distinguished Alumni Speaker Series(9 May 2024) Other income from UWA Trust funds Other expenses Young Alumni event(5 September 2024) Other income from UWA Trust funds Catering and other costs Annual dinner(8 October 2024) Other income from UWA Trust funds Other expenses Total Events income Total Events expenses Net income / (loss) from Charity events |
2024 Unrestricted Restricted Total £'s £'s £'s - 39,989 39,989 500 16,522 17,022 125 4,131 4,256 625 60,642 61,267 2023 - 51,706 51,706 - 3,367 3,367 - 841 841 - 55,914 55,914 2024 £'s £'s £'s 100 - 100 300 - 300 (300) - (300) 500 - 500 (500) - (500) 300 - 300 (300) - (300) 1,200 - 1,200 (1,100) - (1,100) 100 - 100 Page 9 |
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FRIENDS OF THE UNIVERSITY OF WESTERN AUSTRALIA IN THE UNITED KINGDOM AND EUROPE
NOTES TO THE FINANCIAL STATEMENTS (continued) for the year ended 31 December 2024
Note 3 Charity events (continued)
| The Voice (26 April 2023) Other income from UWA Trust funds Expenses Rebecca Moore (24 May 2023) Ticket sales Other income from UWA Trust funds Expenses Annual Dinner(10 October 2023) Sponsorship Other income from UWA Trust funds Expenses Other Other income from UWA Trust funds Expenses Total Events income Total Events expenses Net income / (loss) from Charity events |
2023 Unrestricted Restricted Total £'s £'s £'s 300 - 300 (300) - (300) 575 - 575 178 - 178 (853) - (853) 8,302 - 8,302 300 - 300 (8,602) - (8,602) 300 - 300 (300) - (300) 9,955 - 9,955 (10,055) - (10,055) (100) - (100) |
|---|---|
Note 4 Expenditure on charitable activities
| Grants paid to UWA Bank charges Other Grants paid to UWA Bank charges Other |
2024 Unrestricted Restricted Total £'s £'s £'s - 20,392 20,392 72 - 72 - - - 72 20,392 20,464 2023 Unrestricted Restricted Total £'s £'s £'s - 55,914 55,914 113 - 113 110 - 110 223 55,914 56,137 |
|---|---|
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FRIENDS OF THE UNIVERSITY OF WESTERN AUSTRALIA IN THE UNITED KINGDOM AND EUROPE
NOTES TO THE FINANCIAL STATEMENTS (continued) for the year ended 31 December 2024
| Note 5 Creditors Due within one year: Balance of Funds held on Trust Due to UWA |
2024 £'s 6,151 111 6,262 |
2023 £'s 7,651 122 7,773 |
|---|---|---|
Funds held on Trust are for the University of Western Australia and are expended, or transferred to Unrestricted Funds, at the direction of the University of Western Australia.
Note 6 Restricted Income Funds
| 2024 Science dinner University of Western Australia 2023 Science dinner University of Western Australia |
Fund balances Incoming Outgoing Fund balances brought forward resources resources carried forward £ £ £ £ 3,220 - - 3,220 - 60,642 (20,392) 40,250 3,220 60,642 (20,392) 43,470 3,220 - - 3,220 - 55,914 (55,914) - 3,220 55,914 (55,914) 3,220 |
|---|---|
Note 7 Related party transactions
In the current year ended 31 December 2024 Charity expenses of £500 (2023: £Nil) were reimbursed to a trustee for costs related to a Charity event.
Note 8 Prior period Statement of Financial Activities
| Opening Fund Balance Income from: Donations Fundraising events Gift aid Resources expended: Fundraising events Charitable activities Closing fund balance |
Unrestricted funds Restricted funds £ £ 12,678 3,220 - 55,072 9,955 - - 842 9,955 55,914 10,055 - 223 55,914 10,278 55,914 12,355 3,220 Year ended 31 December 2023 |
|---|---|
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FRIENDS OF THE UNIVERSITY OF WESTERN AUSTRALIA IN THE UNITED KINGDOM AND EUROPE
NOTES TO THE FINANCIAL STATEMENTS (continued) for the year ended 31 December 2024
Note 9 Subsequent events
After the end of the reporting period, 31 December 2024, the bank account operated by the Charity has been closed. The trustees are confident that a new bank account will be opened and confirm that the reason for the account closure was an administrative oversight.
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