## **ANU (UK) FOUNDATION DIRECTORS AND TRUSTEES REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021** **Company No: 06436055 (England and Wales) Charity No: 1123279** ## **ANU (UK) FOUNDATION** ## **CONTENTS** ||Page| |---|---| |Administrative Information|1| |Directors and Trustees Report|2 - 5| |Independent Examiners Report|6| |Statement of Financial Activities|7| |Balance Sheet|8| |Notes to the Financial Statements|9 - 13| (1) ## **ANU (UK) FOUNDATION** ## **ADMINISTRATIVE INFORMATION** DIRECTORS/TRUSTEES Professor B P Schmidt C Lyall B Miles C Crowe R G Clark S Backhouse SECRETARY Chapel & York Ltd COMPANY NUMBER 06436055 (England and Wales) CHARITY NUMBER 1123279 REGISTERED OFFICE c/o Chapel & York Unit 12, Lady Cross Business Park Hollow Lane Dormansland Lingfield Surrey RH7 6PB INDEPENDENT EXAMINERS Sargent & Co Chartered Accountants & Reporting Accountants 219 Croydon Road Caterham Surrey CR3 6PH BANKERS Royal Bank of Scotland London Drummonds Branch 49 Charing Cross London SW1A 2DX (2) ## **ANU (UK) FOUNDATION** ## **COMPANY NO.06436055 (ENGLAND & WALES)** ## **DIRECTORS AND TRUSTEES REPORT FOR THE YEAR ENDING 31 DECEMBER 2021** The members of the board, who are trustees for the purpose of charity law and directors of the company for the purpose of company law, present their annual report together with the financial statements of the foundation for the year ending 31 December 2021. The financial statements comply with the Charities Act 2011, the Companies Act 2006, the Memorandum and Articles of Association, and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2019). ## OBJECTIVES AND ACTIVITIES FOR PUBLIC BENEFIT The purpose of the ANU (UK) Foundation is to facilitate the advancement of education. The trustees confirm that they have been referred to the Charity Commission's guidance on public benefit when reviewing the foundation's aims and objectives, in planning future activities, and setting the grant making policy for the year. In 2021, the ANU (UK) Foundation activities were supporting the Australian National University (ANU) by establishing and advancing relationships with Alumni, friends and donors, and raising funds, supporting key programs and projects. These included the following: ## London Alumni Scholarship Fundraising for this Scholarship was a key activity for the Foundation in 2021. These funds will be used to support each year, in perpetuity, an AUD $8,000 scholarship to one ANU undergraduate student for the duration of their study (up to five years). Each student will also be invited to join our 12-month long First-Year Experience program, developed in response to our new admissions scheme to welcome students from regional, rural, remote and low-SES backgrounds and ensure they find appropriate support and a sense of community at ANU. The 2021 scholarship recipient provided a thank you letter to donors which was well received and has also provided a progress update in February 2022. ## Sustainable Farming Initiative The funds will be used to support the University's Sustainable Farming initiative. For two decades, researchers from ANU have collected data from farms across SouthEastern Australia as part of one of the largest, long-term studies of its kind in the world. Sustainable Farms expands upon this research and includes financial and mental health research designed to formally identify and characterise the relationship between improved environmental management of agricultural land, farm profitability and the mental health of farmers. The project will ensure farmers are properly educated on the environmental, financial and mental health benefits of adopting sustainable farming and in doing so, promote the uptake of these practices. Professor Ian Douglas raised his recurring gift from £60 per month to £75 per month + gift aid. ## Dr Claire Clark Scholarship Each year the ANU College of Asia and the Pacific may offer two awards known as the Dr Claire Clark Scholarship, focusing on International Relations and Public Policy. The Claire Clark Scholarship is awarded to students who have already demonstrated outstanding academic ability, as an indication of their future potential impact. The scholarship makes a lasting impact on a student's life - enabling and encouraging them to pursue further studies which in turn will positively impact their life as a student and their future professional career. The Claire Clark Scholarship is the highest level of scholarship offered by the College. (3) ## **ANU (UK) FOUNDATION** ## **COMPANY NO.06436055 (ENGLAND & WALES)** ## **DIRECTORS AND TRUSTEES REPORT FOR THE YEAR ENDING 31 DECEMBER 2021** Carbon Offset Research Project in the Southern Forest Region of New South Wales These funds will be used to support a research paper, led by Professor Andrew Macintosh, discussing the financial viability of a carbon offset project which would involve stopping native forest logging in the southern forest region of New South Wales, combined with the establishment of plantation forests ## RSES Earth Sciences Opportunity Scholarships These funds support an ANU Undergraduate or Postgraduate student pursuing studies in Earth Sciences who experiences difficulties which require financial assistance to commence, continue or complete their studies. ## ACHIEVEMENTS AND PERFORMANCE The main achievement for the ANU (UK) Foundation this year is the number of donations received from new donors. This has been a priority for the ANU Advancement Team as it continues to build stronger relationships with their Alumni, friends and donors promoting the strategic priorities for ANU and encouraging support for the ANU (UK) Foundation. Of particular note are the generous donations from Mark Mills, Simon Beresford-Wylie, Allan Murray-Jones, Daniel Martin, Phillip Mitchell, Mark Dooley and Russell Clark to the ANU (UK) Foundation, and the events carried out in London (both in person and virtually in 2021) to highlight the work of the ANU. Moving forward, the ANU (UK) Foundation Board are keen to build on the momentum gained over the last few years. Goals are to focus the Board's efforts on supporting strategic priorities, growth of the Board membership, broadening and deepening engagement of UK based Alumni, volunteers. friends and donors; and further encouraging philanthropic giving to the ANU (UK) Foundation ## FINANCIAL REVIEW The UK foundation is entirely reliant on donations and related gift aid. During this particular year, we are pleased to report income from this source of £239,433 (2020 - £89,330). This has enabled us to continue making grants to the ANU. Grants of £225,494 were approved for payment during this year (2020 - £145,305). The ANU continues to support the UK foundation by meeting the governance and administration costs incurred by the UK foundation. ## RESERVES POLICY The UK foundation is a UK charity with little operational objectives and activities. Its primary aim is to help the furtherance of education, to ANU, however not restricted to. Therefore, reserves are not as necessary as a charity that has operational services that have beneficiaries’ dependant on the services carried out. At the year end the charity had unrestricted reserves of £2,304 (2020 - £947). The policy of the trustees for the time being is to maintain only a small reserve within its unrestricted resources fund. This is because commitments will not be made beyond donations received and the Australia National University has agreed with Chapel and York and the Company that it will meet the costs of administering the company and the charity. (4) ## **ANU (UK) FOUNDATION** ## **COMPANY NO.06436055 (ENGLAND & WALES)** ## **DIRECTORS AND TRUSTEES REPORT FOR THE YEAR ENDING 31 DECEMBER 2021** ## GRANT MAKING POLICY In furtherance of its charitable objectives noted above, the UK foundation has made grants solely to ANU. However, the trustees are open to assessing applications from any charitable organisation that is working in the field of education and will assess each application based on its ability to contribute to the strategic aims and the availability of funding. ## RISK MANAGEMENT The trustees have examined the major strategic, business and operational risks which the charity faces and confirm that systems have been, or will be, established to enable the necessary steps to be taken to lessen these risks. The main risk to the charity is that donation income decreases which would significantly reduce the level of charitable activity possible. ## PLANS In the future, the UK foundation plans to continue to facilitate the advancement of education and expand upon its fundraising efforts in the UK, building stronger relationships with alumni. Funds raised will continue to be used in furtherance of the UK foundation's mission to support education. ## STRUCTURE, GOVERNANCE AND MANAGEMENT The UK foundation is a registered Charity, number 1123279, and is constituted as a company limited by guarantee and therefore governed by a Memorandum and Articles of Association. The charity is organised so its directors and trustees meet at various intervals and exercise responsibility for its governance. In the intervening periods the secretary deals with the routine business. All trustees give their time freely and no trustee remuneration was paid in the year. In addition, no trustee had any beneficial interest in any contract with the charity during the year. Any out of pocket expenses reimbursed to the trustees are shown in the notes to the accounts. ## REFERENCE AND DEMONSTRATIVE INFORMATION The administrative information is set out on page 1 of these financial statements. The directors of the UK foundation are its trustees for the purposes of Charity Law. The trustees and officers serving during the year and since the year end were as follows: - Professor R G McCorquodale (resigned 29 March 2021 Professor B P Schmidt C Lyall B Miles C Crowe R G Clark S Backhouse (appointed 17 May 2021) The Board has the power to appoint additional trustees as it considers fit to do so. (5) **ANU (UK) FOUNDATION** ## **COMPANY NO.06436055 (ENGLAND & WALES)** ## **DIRECTORS AND TRUSTEES REPORT FOR THE YEAR ENDING 31 DECEMBER 2021** ## TRUSTEES RESPONSIBILITIES IN RELATION TO THE FINANCIAL STATEMENTS The UK foundation's trustees (who are also the directors of the UK foundation for the purposes of Company Law) are responsible for preparing a trustees’ annual report and financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom generally accepted Accounting Practice). Company law requires the UK foundation trustees to prepare financial statements for each year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing the financial statements, the trustees are required to: - Select suitable accounting policies and then apply them consistently; - Observe the methods and principles in the Charities SORP; - Make judgements and estimates that are reasonable and prudent; - State whether applicable Accounting Standards have been followed, subject to any material departures that must be disclosed and explained in the financial statements; - Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the UK foundation will continue in business. The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the UK foundation and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charity and taking reasonable steps for the prevention and detection of fraud and other irregularities. This report has been prepared in accordance with the provisions applicable to the small company exemption in the Companies Act 2006 in the Companies Act 2006. This report was approved by the board on 17[th] May 2022 and signed on their behalf by: .................................................................. Director and Trustee – C Crowe 16} r4U UK FOUryDATION INDEPF.NDEIIT EXAMINER'S REPORT TO THE TR ISTEES FO T report to the chaTity In￿lee5 on my examination of the ￿¢0￿￿￿ of the cornpany foy the year ended 31 Deffznber 2021 which are sel out on pages 7 10 12. Resp•nsHpilitie$ and basis of report As the charity trustees ot the eompany (8t￿ also its dire¢tm for the pwoses of company12w) you are responsible for the preparalion of the aeeounts in aceordance with the rcquiremLnts of th¢ Comwnies Acr 2006 {'tbe 2fK)6 Aet'l. Having satisfied myself that the uccounts of the coiopany are noi required to be audited under Part 16 of Ihc 2(M)6 Ath &nd ar¢ ¢11%1b￿ forindependent exthminotiunls in accordane with the Fi￿anCial ]ieporting StaDdad xpplir.xhle in the IJK and Rcpthlic of Irelat)d (FRS 102). I hav¢ no concerns att¢ntiort sh(wld rcuchcd. dhav¢c Tawn in tht ss no other malters In cojjnectiun wlih the eX￿Illa￿.0n to which rcp(prt order to enable a p[￿r uMdersiandin¥ uf th¢ to Alisott Sug Sargent Lharter¢d Accountsjitg 219 Croydon Road Latetiw Suney CR3 6PH Dated.. 13 May 2022 (7) ## **ANU (UK) FOUNDATION** ## **STATEMENT OF FINANCIAL ACTIVITIES** ## **FOR THE YEAR ENDED 31 DECEMBER 2021** ## Summary of Income and Expenditure Account |Summary of Income and Expenditure Account||||||| |---|---|---|---|---|---|---| |Note
Income
Donations and Gift Aid
3
Other Income
Total Income
Expenditure
Charitable activities
4
Total Expenditure
Net Income and net movement
in funds for the year
Balance brought forward
Balance carried forward|Restricted
Funds
£
214,869
-
214,869
202,469
202,469
12,400
350
12,750|2021
Unrestricted
Funds
£
24,564
100

24,664
23,307
23,307
1,357
947
2,304|||Total
Funds
£
239,433
100
239,533
225,776
225,776
13,757
1,297
15,054|2020
£
89,330
-
89,330
145,361
145,361
(56,031)
57,328
1,297| ||||Funds
£
24,564
100
24,664
23,307
23,307
1,357
947
2,304|||| |||||||| |||||||| |||||||| The statement of financial activities includes all gains and losses recognised in the year. The notes on pages 9 to 12 form part of these financial statements. (8) ## **ANU (UK) FOUNDATION** ## **COMPANY NO.06436055 (ENGLAND & WALES)** ## **BALANCE SHEET AS AT 31 DECEMBER 2021** |Note
CURRENT ASSETS
Debtors
7
Cash at Bank and in Hand
CREDITORS: AMOUNTS FALLING
DUE WITHIN ONE YEAR
8
NET CURRENT ASSETS

NET ASSETS

FUNDS
Restricted Funds
9
Unrestricted Funds
9
MEMBERS FUNDS|2021
£
2,538
25,980
28,518
(13,464)
15,054
15,054
12,750
2,304
15,054|2020
£
-
32,543
32,543
(31,246)|2020
£
-
32,543
32,543
(31,246)|2020| |---|---|---|---|---| |||
|1297
1,297
350
947
1,297|| |||||| For the financial year ended 31 December 2021 the company was entitled to exemption from audit under Section 477 of the Companies Act 2006. The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements. The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with Section 476. These financial statements have been prepared in accordance with the provisions applicable to companies subject to the Small Companies Regime and in accordance with FRS102 SORP. The financial statements were approved by the Board of Directors and authorised for issue on 17[th] May 2022 and are signed on its behalf by: ............................................................................ Director and Trustee – C Crowe The notes on pages 9 to 12 form part of these financial statements. (9) ## **ANU (UK) FOUNDATION** ## **NOTES TO THE FINANCIAL STATEMENTS** ## **FOR THE YEAR ENDED 31 DECEMBER 2021** ## 1. ACCOUNTING POLICIES ## a) Basis of Preparation of Financial Statements The financial statements have been prepared in accordance with the Accounting and Reporting by Charities: Statement of Recommended Practice applicable to Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) - (Charities SORP 2019 (FRS102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102), the Companies Act 2006 and the Charities Act 2011. The ANU (UK) Foundation meets the definition of a public benefit entity under FRS102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notes. The financial statements are prepared on a going concern basis, as no material uncertainties exist, and under the historical cost convention. The financial statements are presented in sterling which is the functional currency of the charity. ## b) Income Income is recognised when the charity has entitlement to the funds, it is probable that the income will be received and the amount of income receivable can be measured reliably. Donations are recognised when the foundation has been notified in writing of both the amount and settlement date. ## c) Expenditure Expenditure is recognised once 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 reliably measured. All expenditure is accounted for on an accruals basis however at the present time the administration and governance expenditure for the Foundation is paid by the Australian National University. For more information on this please see Note 11 below. ## d) Fund accounting Unrestricted funds are available to spend on activities that further any of the purposes of the charity. Restricted funds are donations which the donor has specified are to be solely used for a particular area of the Foundation's work or for specific projects undertaken by the Australian National University. ## e) Debtors Debtors are recognised at the settlement amount due once it has been established that the Foundation is entitled to the income. (10) **ANU (UK) FOUNDATION** ## **NOTES TO THE FINANCIAL STATEMENTS** ## **FOR THE YEAR ENDED 31 DECEMBER 2021** ## 1. ACCOUNTING POLICIES (Continued) ## f) Cash at bank and in hand Cash at bank and cash in hand includes cash and short term highly lucrative assets with a short maturity of 3 months or less from the date of acquisition or opening of the deposit or similar account. ## g) Creditors and provisions Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount ## 2. LEGAL STATUS OF THE TRUST AND COMPANY INFORMATION The trust is a private company, incorporated in England and Wales, limited by guarantee and has no share capital. In the event of the charity being wound up the liability in respect of the guarantee is limited to £1 per member of the Charity. The registered office is 12 Lady Cross Business Park, Hollow Lane, Dormansland, Lingfield, Surrey, RH7 6PB. ## 3. ## 4. |DONATIONS AND GIFT AID
Restricted
Funds
£
Donations
174,119
Gift Aid Recoverable
40,750
214,869
ANALYSIS OF EXPENDITURE ON
CHARITABLE ACTIVITIES
Grants to Australian National University
Bank Charges and other costs|Unrestricted
2021
Funds
Total
£
£
24,311
198,430
253
41,003
24,564
239,433
2021
£
225,494
282
225,776|Unrestricted
2021
Funds
Total
£
£
24,311
198,430
253
41,003
24,564
239,433
2021
£
225,494
282
225,776|| |---|---|---|---| ||||| |||24,564|| ||||| The Charity undertakes charitable activities through grant making and awarded grants to the Australian National University in the furtherance of its charitable activities. ## 5. TAXATION As the Charity is to facilitate the advancement of education it is not subject to Corporation Tax. (11) ## **ANU (UK) FOUNDATION** ## **NOTES TO THE FINANCIAL STATEMENTS** ## **FOR THE YEAR ENDED 31 DECEMBER 2021** ## 6. TRUSTEES No remuneration was paid to any trustee during the year, neither were any other benefits from employment with the charity received and no expenses were paid out. None of these occurred in the previous year In addition, no trustee received payment for any professional or other services supplied to the Foundation. |7.
8.|DEBTORS
Other debtors
Income Tax Recoverable
CREDITORS: AMOUNTS FALLING DUE
WITHIN ONE YEAR
Grants payable
Other creditors and Accruals|2021
£
-
2,538
2,538
13,425
39
13,464|2020
£
-
-
-
31,237
9
31,246|2020| |---|---|---|---|---| ## 9. FUNDS |FUNDS|||||| |---|---|---|---|---|---| |Unrestricted Fund:
Restricted Funds:
RSES Equity Scholarships
London Alumni Scholarship
Carbon Offset Research
Dr Claire Clark Scholarship|Balance at
1 January 2021
£
947
-
350
-
350|Income
£
24,664
25,000
108,900
55,000
25,969
214,869|Expenditure
£
(23,307)
(25,000)
(96,500)
(55,000)
(25,969)
(202,469)|Balance at
31 December 2021|| ||||||£
2,304
-
12,750
-
-
12,750| RSES Equity Scholarship - The purpose of the fund is to support, through RSES in Earth Sciences Opportunity Scholarships, an ANU Undergraduate or postgraduate student pursuing studies who experience difficulties which require financial assistance to commence, continue or complete their studies. Dr Claire Clark Scholarship **-** Each year the ANU College of Asia and the Pacific may offer two awards known as the Dr Claire Clark Scholarship, focusing on International Relations and Public Policy. The Claire Clark Scholarship is awarded to students who have already demonstrated outstanding academic ability, as an indication of their future potential impact. The scholarship makes a lasting impact on a student's life - enabling and encouraging them to pursue further studies which in turn will positively impact their life as a student and their future professional career. The Claire Clark Scholarship is the highest level of scholarship offered by the College. (12) **ANU (UK) FOUNDATION** ## **NOTES TO THE FINANCIAL STATEMENTS** ## **FOR THE YEAR ENDED 31 DECEMBER 2021** ## 9. FUNDS (Continued) London Alumni Scholarship Fund will award each year and in perpetuity scholarships of up to AUD $40,000 to ANU undergraduate students (AUD $8,000 per annum for the duration of their study, up to five years). Carbon Offset Research - The purpose of the fund is to support a research paper discussing the financial viability of a carbon offset project which would involve stopping native forest logging in the southern forest region of New South Wales, combined with the establishment of plantation forests. |Prior year
Unrestricted Fund:
Restricted Funds:
RSES Equity Scholarships
London Alumni Scholarship
Dr Claire Clark Scholarship|Balance at
1 January 2020
£
1,078
25,000
31,250
-

56,250|Balance at
1 January 2020
£
1,078
25,000
31,250
-

56,250|Balance at
1 January 2020
£
1,078
25,000
31,250
-

56,250|Income
£
10,788
-
21,125
57,417
78,542|Expenditure
£
(10,919)
(25,000)
(52,025)
(57,417)
(134,442)|Balance at
31 December 2020| |---|---|---|---|---|---|---| |||
£
1,078
25,000
31,250
-
56,250||||£
947
-
350
-
350| |||||||| RSES Equity Scholarship - The purpose of the fund is to support, through RSES in Earth Sciences Opportunity Scholarships, an ANU Undergraduate or postgraduate student pursuing studies who experience difficulties which require financial assistance to commence, continue or complete their studies. Dr Claire Clark Scholarship **-** Each year the ANU College of Asia and the Pacific may offer two awards known as the Dr Claire Clark Scholarship, focusing on International Relations and Public Policy. The Claire Clark Scholarship is awarded to students who have already demonstrated outstanding academic ability, as an indication of their future potential impact. The scholarship makes a lasting impact on a student's life - enabling and encouraging them to pursue further studies which in turn will positively impact their life as a student and their future professional career. The Claire Clark Scholarship is the highest level of scholarship offered by the College. London Alumni Scholarship Fund will award each year and in perpetuity scholarships of up to AUD $40,000 to ANU undergraduate students (AUD $8,000 per annum for the duration of their study, up to five years). (13) **ANU (UK) FOUNDATION** ## **NOTES TO THE FINANCIAL STATEMENTS** ## **FOR THE YEAR ENDED 31 DECEMBER 2021** ## 10. ANALYSIS OF NET ASSETS BETWEEN FUNDS |ANALYSIS OF NET ASSETS BETWEEN FUNDS||||| |---|---|---|---|---| |Balance at
Debtors
Cash at bank and in hand
Creditors|Restricted
Funds
£
2,500
21,175
(10,925)
12,750|Unrestricted
Funds
£
38
4,805
(2,539)
2,304||Total
£
2538
25,980
(13,464)| |||||| |||||
15,054| ## 11. RELATED PARTIES Administration and governance expenditure amounting to £1,750 (2020 - £19,650) was paid by the Australian National University during the year ended 31 December 2021 to ensure that all donations received in the UK will be utilised for the objectives of the Foundation. This included the Independent Examiners fees for the year ended 31 December 2020 of £1,400. In addition the Australian National University has also paid board meeting costs for ANU (UK) Foundation of nil in 2021 but $1127AUD in 2020. Finally, during the yerar a charity trustee donated £22,969(2019 – 45,934) (excluding gift aid) to the charity towards the Dr Claire Clark Scholarship.