Company registration number: 06436055 Charity registration number: 1123279
ANU (UK) Foundation
(A company limited by guarantee)
Annual Report and Financial Statements
for the period from 1 January 2023 to 30 December 2023
KM 1st Floor, Block C The Wharf Manchester Road Burnley Lancashire BB11 1JG
ANU (UK) Foundation
Contents
| Reference and Administrative Details | 1 |
|---|---|
| Trustees' Report | 2 to 4 |
| Independent Auditors' Report | 5 to 8 |
| Statement of Financial Activities | 9 |
| Balance Sheet | 10 |
| Statement of Cash Flows | 11 |
| Notes to the Financial Statements | 12 to 19 |
ANU (UK) Foundation
Reference and Administrative Details
Trustees Ms S Backhouse Ms C-M Crowe Mr R G Clark Prof G Bell Ms C Lyall Mr A Furman Secretary Chapel & York Limited Charity Registration Number 1123279 Company Registration Number 06436055 Registered Office C/O Chapel & York Unit 12, Lady Cross Business Park Hollow Lane Lingfield Surrey RH7 6PB Auditor KM 1st Floor, Block C The Wharf Manchester Road Burnley Lancashire BB11 1JG Bankers Royal Bank of Scotland London Drummonds Branch 49 Charing Cross London SW1A 2DX
Page 1
ANU (UK) Foundation
Trustees' Report
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 30 December 2023.
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 2023, 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 2023. 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 recipient of the scholarship commencing in 2024 has been confirmed.
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.
Rhonda and Sean Ryan Scholarship
Every three to five years the ANU College of Health and Medicine may offer an award known as the Rhonda and Sean Ryan Scholarship. The objective of the award is to support Bachelor of Health Science students who are experiencing financial need and may not otherwise be able to attend University. Funding for this award has been provided by Rhonda and Sean Ryan, who are both alumni of the ANU. Rhonda graduated with a Bachelor of Economics (Economics and Economic History) and a Bachelor of Arts (Asian Studies) in 1990 and Sean completed his PhD in Astronomy and Astrophysics in the same year.
Rikili Fund
A Scholarship, funded through the generosity of the Late Roslyn Poignant to provide scholarships in support of the studies of Indigenous Australians or Islanders at the tertiary level in Visual or Performance Arts.
Page 2
ANU (UK) Foundation
Trustees' Report
ACHIEVEMENTS AND PERFORMANCE
A priority for the ANU Advancement Team, as it continues to build stronger relationships with their Alumni, friends and donors, had been encouraging new donors by promoting the strategic priorities for ANU and encouraging support for the ANU (UK) Foundation. Of particular note are the generous donations from the Late Roslyn Poignant for the Rikili Fund.
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 £1,403,041 (2022 - £148,214). This has enabled us to continue making grants to the ANU. Grants of £1,342,282 were approved for payment during this year (2022 - £160,975).
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 £3,551 (2022 - £2,292). 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 admin istering the company and the charity.
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.
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ANU (UK) Foundation
Trustees' Report
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.
The Board has the power to appoint additional trustees as it considers fit to do so.
The annual report was approved by the trustees of the charity on 30 October 2024 and signed on its behalf by:
......................................... Ms C-M Crowe Trustee
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ANU (UK) Foundation
Independent Auditor's Report to the Members of ANU (UK) Foundation
Opinion
We have audited the financial statements of ANU (UK) Foundation (the 'charity') for the period from 1 January 2023 to 30 December 2023, which comprise the Statement of Financial Activities, Balance Sheet, Statement of Cash Flows, and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is United Kingdom Accounting Standards, comprising Charities SORP - FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and applicable law (United Kingdom Generally Accepted Accounting Practice).
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In our opinion the financial statements:
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give a true and fair view of the state of the charity's affairs as at 30 December 2023 and of its incoming resources and application of resources, including its income and expenditure, for the period then ended;
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have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
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have been prepared in accordance with the requirements of the Companies Act 2006.
Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the auditor responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and the provisions available for small entities, in the circumstances set out in note to the financial statements, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Conclusions relating to going concern
In auditing the financial statements, we have concluded that the trustees use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity's ability to continue as a going concern for a period of at least twelve months from when the original financial statements were authorised for issue.
Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.
Other information
The trustees are responsible for the other information. The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.
In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
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ANU (UK) Foundation
Independent Auditor's Report to the Members of ANU (UK) Foundation
Opinion on other matter prescribed by the Companies Act 2006
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In our opinion, based on the work undertaken in the course of the audit:
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the information given in the Trustees' Report for the financial period for which the financial statements are prepared is consistent with the financial statements; and
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the Trustees' Report has been prepared in accordance with applicable legal requirements.
Matters on which we are required to report by exception
In the light of our knowledge and understanding of the charity and its environment obtained in the course of the audit, we have not identified material misstatements in the Trustees' Report.
We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
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adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
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the financial statements are not in agreement with the accounting records and returns; or
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certain disclosures of trustees remuneration specified by law are not made; or
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we have not received all the information and explanations we require for our audit.
Responsibilities of trustees
As explained more fully in the (set out on page ), the trustees are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the trustees are responsible for assessing the charity's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do so.
Auditor responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The specific procedures for this engagement and the extent to which these are capable of detecting irregularities, including fraud is detailed below.
Our approach to identifying and assessing the risks of material misstatement respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:
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the engagement partner ensured that the engagement team collectively had the appropriate competence,
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capabilities and skills to identify or recognise non-compliance with applicable laws and regulations;
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we identified the laws and regulations applicable to the charity through discussions with trustees and other
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management, and from our knowledge and experience of the charity sector;
Page 6
ANU (UK) Foundation
Independent Auditor's Report to the Members of ANU (UK) Foundation
• we focussed on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the charity, including the Charities Act 2011;
• we assessed the extent of compliance with the laws and regulations identified above through making enquiries of management and inspecting legal correspondence; and
• we identified laws and regulations which were communicated within the audit team regularly and the team remained alert to instances of non-compliance throughout the audit.
We assessed the susceptibility of the charity's financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:
• making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud; and
• considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations.
To address the risk of fraud through management bias and override of controls, we:
• performed analytical procedures on material balances for which robust, substantive analytical procedures have been undertaken to identify any unusual or unexpected relationships;
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tested journal entries to identify unusual transactions; and
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investigated the rationale behind significant or unusual transactions.
There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any.
Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.
Use of our report
This report is made solely to the charitable company's trustees, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charity's trustees those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and its trustees as a body, for our audit work, for this report, or for the opinions we have formed.
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ANU (UK) Foundation
Independent Auditor's Report to the Members of ANU (UK) Foundation
...................................... Mark Heaton FCCA DchA (Senior Statutory Auditor) For and on behalf of KM, Statutory Auditor
1st Floor, Block C The Wharf Manchester Road Burnley Lancashire BB11 1JG
30 October 2024
Page 8
ANU (UK) Foundation
Statement of Financial Activities for the Period from 1 January 2023 to 30 December 2023 (Including Income and Expenditure Account and Statement of Total Recognised Gains and Losses)
| Note Income from: Donations and legacies 3 Total income Expenditure on: Charitable activities 4 Total expenditure Net income/(expenditure) Net movement in funds Reconciliation of funds Total funds brought forward Total funds carried forward 12 |
Unrestricted funds £ 14,556 14,556 (13,297) (13,297) 1,259 1,259 2,292 3,551 |
Restricted funds £ 1,401,485 1,401,485 (1,338,985) (1,338,985) 62,500 62,500 1 62,501 |
Total 2023 £ 1,416,041 1,416,041 (1,352,282) (1,352,282) 63,759 63,759 2,293 66,052 |
Unrestricted funds £ 12,625 12,625 (12,637) (12,637) (12) (12) 2,304 2,292 |
Restricted funds £ 147,089 147,089 (159,838) (159,838) (12,749) (12,749) 12,750 1 |
Total 2022 £ 159,714 |
|---|---|---|---|---|---|---|
| 159,714 | ||||||
| (172,475) | ||||||
| (172,475) | ||||||
| (12,761) | ||||||
| (12,761) 15,054 |
||||||
| 2,293 |
All of the charity's activities derive from continuing operations during the above two periods. The funds breakdown for 2022 is shown in note 12.
The notes on pages 12 to 19 form an integral part of these financial statements. Page 9
ANU (UK) Foundation
(Registration number: 06436055) Balance Sheet as at 30 December 2023
| Note Current assets Debtors 10 Cash at bank and in hand Creditors: Amounts falling due within one year 11 Net assets Funds of the charity: Restricted income funds Restricted funds Unrestricted income funds Unrestricted funds Total funds 12 |
2023 £ 12,787 53,265 66,052 - 66,052 62,501 3,551 66,052 |
2022 £ 75 12,780 |
|---|---|---|
| 12,855 (10,562) |
||
| 2,293 | ||
| 1 2,292 |
||
| 2,293 |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
The financial statements on pages 9 to 19 were approved by the trustees, and authorised for issue on 30 October 2024 and signed on their behalf by:
.........................................
Ms C-M Crowe Trustee
The notes on pages 12 to 19 form an integral part of these financial statements. Page 10
ANU (UK) Foundation
Statement of Cash Flows for the Period from 1 January 2023 to 30 December 2023
| Note Cash flows from operating activities Net cash income/(expenditure) Working capital adjustments (Increase)/decrease in debtors 10 Decrease in creditors 11 Net cash flows from operating activities Net increase/(decrease) in cash and cash equivalents Cash and cash equivalents at 1 January Cash and cash equivalents at 30 December |
2023 £ 63,759 (12,712) (10,562) 40,485 40,485 12,780 53,265 |
2022 £ (12,761) 2,463 (2,902) |
|---|---|---|
| (13,200) | ||
| (13,200) 25,980 |
||
| 12,780 |
All of the cash flows are derived from continuing operations during the above two periods.
The notes on pages 12 to 19 form an integral part of these financial statements. Page 11
ANU (UK) Foundation
Notes to the Financial Statements for the Period from 1 January 2023 to 30 December 2023
1 Charity status
The charity is limited by guarantee, incorporated in England and Wales, and consequently does not have share capital. Each of the trustees is liable to contribute an amount not exceeding £1 towards the assets of the charity in the event of liquidation.
The address of its registered office is: C/O Chapel & York Unit 12, Lady Cross Business Park Hollow Lane Lingfield Surrey RH7 6PB
These financial statements were authorised for issue by the trustees on 30 October 2024.
2 Accounting policies
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
The financial statements have been prepared in accordance with 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 (FRS 102)) (issued in October 2019) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
Basis of preparation
ANU (UK) Foundation meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notes.
Going concern
The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern nor any significant areas of uncertainty that affect the carrying value of assets held by the charity.
Income
All income is recognised once the charity has entitlement to the income, it is probable that the income will be received and the amount of the income receivable can be measured reliably.
Page 12
ANU (UK) Foundation
Notes to the Financial Statements for the Period from 1 January 2023 to 30 December 2023
Donations and legacies
Donations are recognised when the charity has been notified in writing of both the amount and settlement date. In the event that a donation is subject to conditions that require a level of performance by the charity before the charity is entitled to the funds, the income is deferred and not recognised until either those conditions are fully met, or the fulfilment of those conditions is wholly within the control of the charity and it is probable that these conditions will be fulfilled in the reporting period.
Donated services and facilities
Where services or facilities are provided to the charity as a donation that would normally be purchased from our suppliers, this benefit is included in the financial statements at it's fair value unless it's fair value cannot be reliably measured, then at the cost to the donor or the resale value of goods that are to be sold.
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 reliabily 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 13 below.
Charitable activities
Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.
Grant provisions
Provisions for grants are made when the intention to make a grant has been communicated to the recipient but there is uncertainty about either the timing of the grant or the amount of grant payable.
Support costs
Support costs include central functions and have been allocated to activity cost categories on a basis consistent with the use of resources, for example, allocating property costs by floor areas, or per capita, staff costs by the time spent and other costs by their usage.
Governance costs
These include the costs attributable to the charity’s compliance with constitutional and statutory requirements, including audit, strategic management and trustees meetings and reimbursed expenses.
Taxation
The charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.
Page 13
ANU (UK) Foundation
Notes to the Financial Statements for the Period from 1 January 2023 to 30 December 2023
Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the charity will not be able to collect all amounts due according to the original terms of the receivables.
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Fund structure
Unrestricted income funds are general funds that are available for use at the trustees discretion in furtherance of the objectives 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 under by the Australian National University.
3 Income from donations and legacies
| Donations and legacies; Donations from individuals Gift aid reclaimed Donated services and facilities |
Unrestricted funds General £ 1,081 475 13,000 14,556 |
Restricted funds £ 1,354,413 47,072 - 1,401,485 |
Total 2023 £ 1,355,494 47,547 13,000 1,416,041 |
Total 2022 £ 120,571 27,643 11,500 |
|---|---|---|---|---|
| 159,714 |
4 Expenditure on charitable activities
| Note Bank charges Grant funding of activities Governance costs 5 |
Unrestricted funds General £ (9) 306 13,000 13,297 |
Restricted funds £ - 1,338,985 - 1,338,985 |
Total 2023 £ (9) 1,339,291 13,000 1,352,282 |
Total 2022 £ 12 160,963 11,500 |
|---|---|---|---|---|
| 172,475 |
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ANU (UK) Foundation
Notes to the Financial Statements for the Period from 1 January 2023 to 30 December 2023
5 Analysis of governance and support costs
Governance costs
| Audit fees Audit of the financial statements Independent examiner fees Examination of the financial statements Allocated support costs |
Unrestricted funds General £ 3,000 - 10,000 13,000 |
Total 2023 £ 3,000 - 10,000 13,000 |
Total 2022 £ - 1,500 10,000 |
|---|---|---|---|
| 11,500 |
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ANU (UK) Foundation
Notes to the Financial Statements for the Period from 1 January 2023 to 30 December 2023
6 Trustees remuneration and expenses
No trustees, nor any persons connected with them, have received any remuneration from the charity during the year.
No trustees have received any reimbursed expenses or any other benefits from the charity during the year.
In addition, no trustee received payment for any professional or other services supplied to the Foundation.
7 Independent examiner's remuneration
----- Start of picture text -----
2022
£
Examination of the financial statements 1,500
8 Auditors' remuneration
2023 2022
£ £
Audit of the financial statements 3,000 -
----- End of picture text -----
9 Taxation
The charity is a registered charity and is therefore exempt from taxation.
10 Debtors
----- Start of picture text -----
2023 2022
£ £
Other debtors 12,787 75
11 Creditors: amounts falling due within one year
2023 2022
£ £
Other creditors - 10,562
----- End of picture text -----
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ANU (UK) Foundation
Notes to the Financial Statements for the Period from 1 January 2023 to 30 December 2023
12 Funds
| Unrestricted funds General General funds Restricted funds London Alumni Scholarship Dr Claire Clark Scholarship Rhonda and Sean Ryan Scholarship Professor David Lindenmayer, Woodland Research Sustainable Farming Initiative Rikili Fund Dr George Ian Sayce Scholarship Total funds |
Balance at 1 January 2023 £ 2,292 - 1 - - - - - 1 2,293 |
Incoming resources £ 14,556 12,500 - 130,360 30,000 1,125 1,165,000 62,500 1,401,485 1,416,041 |
Resources expended £ (3,297) (12,500) - (130,360) (30,000) (1,125) (1,165,000) - (1,338,985) (1,342,282) |
Balance at 30 December 2023 £ 13,551 - 1 - - - - 62,500 |
|---|---|---|---|---|
| 62,501 | ||||
| 76,052 |
London Alumni Scholarship - The 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).
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.
Rhonda and Sean Ryan Scholarship - Every three to five years the ANU College of Health and Medicine may offer an award known as the Rhonda and Sean Ryan Scholarship. The objective of the award is to support Bachelor of Health Science students who are experiencing financial need and may not otherwise be able to attend University. Funding for this award has been provided by Rhonda and Sean Ryan, who are both alumni of the ANU. Rhonda graduated with a Bachelor of Economics (Economics and Economic History) and a Bachelor of Arts (Asian Studies) in 1990 and Sean completed his PhD in Astronomy and Astrophysics in the same year.
Professor David Lindenmayer, Woodland Research - The purpose of the fund is to support Professor David Lindenmayer in his Woodland Fire and Flammability research.
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ANU (UK) Foundation
Notes to the Financial Statements for the Period from 1 January 2023 to 30 December 2023
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 continues to support Sustainable Farming through a recurring monthly donation.
Rikili Fund - A Scholarship, funded through the generosity of the Late Roslyn Poignant to provide scholarships in support of the studies of Indigenous Australians or Islanders at the tertiary level in Visual or Performance Arts.
Dr George Ian Sayce Scholarship - A Scholarship, funded through the generosity of Dr George Sayce, an alumnus of Magdalen College Oxford and the Australian National University, will be available in 2024 for a graduate of an Australian University to study at Oxford University. The Sayce Scholarship is open to candidates who will be enrolling in a Doctor of Philosophy degree in as STEM discipline , and tenable for up to three years. It is intended to assist in meeting living costs during the Scholar’s study in Oxford.
| Unrestricted funds General General Funds Restricted funds Victorian Central Highland Research London Alumni Scholarship Strategic Priorities Fund Dr Claire Clark Scholarship Total funds |
Balance at 1 January 2022 £ 2,304 - 12,750 - - 12,750 15,054 |
Incoming resources £ 12,625 28,300 - 10,000 108,789 147,089 159,714 |
Resources expended £ (1,137) (28,300) (12,750) (10,000) (108,788) (159,838) (160,975) |
Balance at 31 December 2022 £ 13,792 - - - 1 |
|---|---|---|---|---|
| 1 | ||||
| 13,793 |
Victorian Central Highland Research - The purpose of this Endowment is to support biodiversity conservation research in the Victorian Central Highlands conducted by Professor David Lindenmayer and his highly skilled team at the ANU Fenner School of Environment, Biology & Environment. The project is called the Great Forest National Park Science and Community Engagement Project.
Strategic Priorities Fund - The purpose of the fund is to provide support for the University’s strategic priorities. Funds are spent at the discretion of the Vice-Chancellor. The fund will hold all donations received which are undirected or given in support of the University’s area of greatest need or strategic priorities. The fund will be used to support the University’s priorities at the recommendation of the Vice-President (Advancement) and at the direction of the Vice-Chancellor. Management and disbursement of funds will be undertaken by the delegate who will review the fund semi-annually and provide recommendations to the Vice-Chancellor on the disbursement of these funds in support of the University’s strategic priorities.
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ANU (UK) Foundation
Notes to the Financial Statements for the Period from 1 January 2023 to 30 December 2023
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.
13 Analysis of net assets between funds
| Current assets Current assets Current liabilities Total net assets |
Unrestricted funds General £ 3,551 Unrestricted funds General £ 2,854 (562) 2,292 |
Restricted funds £ 62,501 Restricted funds £ 10,001 (10,000) 1 |
Total funds at 30 December 2023 £ 66,052 |
|---|---|---|---|
| Total funds at 31 December 2022 £ 12,855 (10,562) |
|||
| 2,293 |
14 Related party transactions
Administration and governance expenditure amounting to £13,000 (2022 - £11,500) is paid by the Australian National University for the year ended 31 December 2023 to ensure that all donations received in the UK will be utilised for the objectives of the Foundation. This included the Audit fee (£3,000) and in the prior year the independent Examiners fees of £1,500.
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