OpenCharities

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

2023-04-05-accounts

CHARITY REGISTRATION NUMBER: 1128839

SCIENCES PO ALUMNI UK CHARITY TRUST TRUSTEES’ REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 April 2023

1

SCIENCES PO ALUMNI UK CHARITY TRUST TRUSTEES’ REPORT FOR THE YEAR ENDED 5 APRIL 2023

Page

2

SCIENCES PO ALUMNI UK CHARITY TRUST TRUSTEES’ REPORT FOR THE YEAR ENDED 5 APRIL 2023

Trustees

Cécile d’Angelin, Chair of trustees Stéphane Rambosson Maëva Slotine Stefan Lavau Jean-Michel Tron Xavier Quattrocchi-Oubradous

Treasurer

Stefan Lavau

Correspondence Address

The Sciences Po Alumni UK Charity Trust 15 Drayton Gardens London SW10 9RY UK Mr Stefan Lavau 76 Rue Lecourbe 75015 Paris France Mrs Maëva Slotine Flat 02 9[th] Floor Block 80 Bamboo Grove 74-86 Kennedy Road Hong Kong

Independent Examiner

Karen Wyatt Wyatts Chartered Accountants York House 1 Seagrave Road London SW6 1RP

Bankers

HSBC 76-78 Kings Road London SW3 4TZ

CHARITY NUMBER : 1128839

3

SCIENCES PO ALUMNI UK CHARITY TRUST TRUSTEES’ REPORT FOR THE YEAR ENDED 5 APRIL 2023

The Trustees submit their annual report, together with the accounts of the Charity, for the year ended 5 April 2023. The accounts comply with current statutory requirements and are in the format prescribed by The Charity Commission Statement of Recommended Practice (FRS 102). The report should be read in conjunction with the general information provided on page 3.

Objective and activities for the public benefit

The objective of the Trust is to advance education, in particular but not exclusively, by financially supporting students wishing to study through one of the Sciences Po programmes, Sciences Po being a leading university for teaching and research in social sciences. Another means to advance education is by the provision and assistance in the provision of facilities at Sciences Po.

During the financial year ended 5 April 2023, the Trust has carried out these objects by:

For each one of the receiving students of the Assia de Juniac, the Roger Seydoux, and the King’s College awards, access to Sciences Po-LSE and the Sciences Po-King’s College double master’s degrees – for which they had been selected by the universities – would not have been possible without the scholarship. The scholarships create opportunities to the beneficiaries by allowing them access to a year of study at Sciences Po in Paris and a year of study either at the London School of Economics and Political Science in London, or at the King’s College in London. They also contribute to Sciences Po’s, the LSE’s and the King’s College’s reputation by making it possible for three outstanding students to follow their double masters degree.

Structure, Governance and Management

The trust is a registered charity, number 1128839, and is constituted under a Trust Deed dated 4 March 2009.

Trustees are appointed for a term of two years by a resolution of the trustees passed at a special meeting. The Trust Deed provides for a minimum of three trustees.

Trustees meet or correspond, especially by email or through video conference, on a regular basis. Minutes are drafted and executed by the trustees to keep record of the decisions met.

4

SCIENCES PO ALUMNI UK CHARITY TRUST TRUSTEES’ REPORT FOR THE YEAR ENDED 5 APRIL 2023

Plans for the Future

The Trustees are seeking for adequate application of the Trust’s income. The policy is not to create an endowment fund.

It is expected within the next twelve months that:

Trustees Induction and Training

The Trustees look for suitable candidates to join the Board who can bring experience and expertise relevant to the charity’s objectives. New Trustees are invited to join the Board by the existing Chairman following consultations with existing Trustees. This method of recruitment enables the Board to assess the future contribution and effectiveness of each new member.

The Trustee designate is then supplied with a welcome pack containing information covering all aspects of Sciences Po Alumni UK Charity Trust’s work. They will have access to the Trust Deed and history of Sciences Po Alumni UK Charity Trust, annual reports and accounts and a brief overview of all key policies relating to the Board and the organisation.

The Trustee designate must then attend a meeting with the Trustees who will familiarise the Trustee with all the activities within the charity.

Related Party Transactions & Conflict of Interest

In accordance with charity policy, on joining the board, Trustees must declare any interests that may conflict with their ability to act appropriately in their role as Trustee. If a conflict of interest should arise, they will be required to withdraw from any related decision-making situations.

Risk Management

The Trustees have considered the major risks to which the charity is exposed and have reviewed those risks and established procedures to manage those risks.

Facing students’ financial needs underestimation

Our major operational risk is the extent to which students awards successfully advance education of those students and especially that their budgets are realistic, and they don’t drop out of their studies or fall behind their potential for financial reasons. The trustees manage this risk by working closely with Sciences Po Paris’s team in charge of the United Kingdom programmes and monitoring the awarded students during the two years of the Sciences Po-LSE and the Sciences Po-King’s College masters degrees.

Ms. Mounia El Khawand and Ms. Noemi Capelli were the 2021 recipients of the Assia de Juniac, and the Roger Seydoux awards. Payments of their scholarships to the LSE and King’s College were processed in Fall 2022, as they started their curriculum for school year 2022-2023. Ms. Louise Masson was the 2021 recipient of the King’s College award. However, her scholarship to the King’s

5

SCIENCES PO ALUMNI UK CHARITY TRUST TRUSTEES’ REPORT FOR THE YEAR ENDED 5 APRIL 2023

College was not paid in Fall 2022, because the student decided to cancel her school year in London.

Following the decision to allocate scholarships through the Sciences Po Emile Boutmy scheme and to pay them directly to Sciences Po as of 2023, the Trustees decided to award financial aid to Mr Jakob Reid, a British student, based on his merits, academic excellence and financial needs. The Trustees’ proposition was validated by Sciences Po’s Jury on 30 March 2023. The scholarship is to be paid in the financial year 2023/2024.

Trustee Remuneration and Expenses

Trustees give their time freely with no remuneration paid during the year. However, expenses incurred whilst operating on behalf of the charity can be paid to the Trustees, primarily to cover their travel and subsistence costs. There have been no such expenses for the year ended 5 April 2023.

Financial Review

The Trust is pleased to have been able to raise £220,708 during the financial year 2022-2023. All the funds raised come from Donations.

The Trust received between April 6[th] 2022 and April 5[th] 2023:

In addition, a gift aid from HMRC amounting to £21,375 is expected to be received during subsequent tax years.

The amount of money spent during that financial year was £247,072, with the following use of proceeds:

6

SCIENCES PO ALUMNI UK CHARITY TRUST TRUSTEES’ REPORT FOR THE YEAR ENDED 5 APRIL 2023

Additional Information

Grant making policy

The grants to the Fondation Nationale des Sciences Politiques, in Paris are substantial application of income. They have been decided by the trustees for expenditure following budgets submitted to them for selection and approbation. Details of the allocation of these amounts are given above, in the paragraph “Objective and activities for the public benefit”.

Cementing partnerships with strategic alliances

Further relationships with Sciences Po are being built by the Trustees, meeting regularly with Mathias Vicherat, the Director of Sciences Po, Nathalie Jacquet, the Head of Development, Ms. Anne-Sophie Luby-Leblois, in charge of Sciences Po’s relationships with Donors, and the Sciences Po Alumni Team in Paris.

Investment Policy

The Trust’s assets are kept on an interest-bearing account with HSBC.

Reserves Policy

The Trustees are committed to maintain free reserves in unrestricted funds at an appropriate level, to enable the Trust to further ensure the continuity of its charitable purposes, notably in the forms of scholarships to students.

Trustees’ responsibilities in relation to the financial statements

The Trustees are responsible for preparing the Trustees’ report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards. The law applicable to charities in England and Wales requires the Trustees to prepare financial statements for each financial year, which gives a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing those financial statements, the trustees are required to:

The Trustees are responsible for keeping accounting records which disclose with reasonable accuracy the financial position of the charity and enable them to ascertain to ensure that the financial statements comply with the Charities Act 1993, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the Trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of

7

SCIENCES PO ALUMNI UK CHARITY TRUST TRUSTEES’ REPORT FOR THE YEAR ENDED 5 APRIL 2023

fraud and other irregularities. The Trustees are responsible for the maintenance and integrity of the charity and financial information included on the charity’s website.

Approved by the Trustees on 5 February 2024 and signed on their behalf by:

Signature: Cecile d'Angelin Cecile d'Angelin (Feb 5, 2024 07:08 GMT+1)

Name: Cécile d’Angelin Capacity: Trustee

Signature:

Stefan LAVAU (Feb 4, 2024 23:23 GMT+1)

Name: Stefan Lavau Capacity: Trustee and Treasurer

Signature:

Signature:

Stephane Rambosson Stephane Rambosson (Feb 4, 2024 22:21 GMT)

Name: Xavier Quattrocchi-Oubradous Capacity: Trustee

Name: Stéphane Rambosson Capacity: Trustee

Signature:

Signature:

Stefan LAVAU (Feb 4, 2024 23:23 GMT+1)

Name: Maëva Slotine Capacity: Trustee

Name: Jean-Michel Tron Capacity: Trustee

8

SCIENCES PO ALUMNI UK CHARITY TRUST INDEPENDENT EXAMINER’S REPORT FOR THE YEAR ENDED 5 APRIL 2023

Independent Examiner’s Report to the trustees of Sciences Po Alumni UK Charity Trust.

I report on the accounts for the year ended 5 April 2023 which are set out on pages 10-18.

Respective responsibilities of the Trustees and Examiner

The charity's trustees are responsible for the preparation of the accounts. The charity’s Trustees consider that an audit is not required for this year under section 144 of the Charities Act 2011 (the Charities Act) and that an independent examination is needed.

It is my responsibility to:

Basis of independent examiner’s statement

My examination was carried out in accordance with general directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts and seeking explanations from the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a ‘true and fair’ view and the report is limited to those matters set out in the statement below.

Independent Examiner’s statement

I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

1. accounting records were not kept in respect of the charity as required by section 130 of the Act; or

2. the financial statements do not accord with those records; or

3. the financial statements do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair' view which is not a matter considered as part of an independent examination.

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

Karen Wyatt (Feb 5, 2024 08:47 GMT)

Name: Karen Wyatt FCA Relevant Professional body: ICAEW Address: York House, 1 Seagrave Road, London, SW6 1RP

Date: …………………..

9

SCIENCES PO ALUMNI UK CHARITY TRUST STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 5 APRIL 2023

Note
Unrestricted
Funds
2023
£
Income and endowments
Voluntary income
1
5
Activities for generating funds
1
-
Investment income
1
703
Total income
708
Expenditure
Costs of Generating Funds
Fundraising costs
2
1,572
Charitable activities
2
25,500
Total expenditure
27,072
Net income/(expenditure)
before transfers
(26,364)
Gross transfers between funds
-
Net income/(expenditure)
before other recognised
gains/(losses)
(26,364)
Other recognised
gains/(losses)
-
Net movement in funds
(26,364)
Total funds brought forward
107,902
Total funds carried forward
81,538
Restricted
Funds
2023
£
220,000
-
-
220,000
-
220,000
220,000
-
-
-
-
-
10,916
10,916
Total
2023
£
220,005
-
703
220,708
1,572
245,500
247,072
(26,364)
-
(26,364)
-
(26,364)
118,818
92,454






All income and expenditure derive from continuing activities. The statement of financial activities includes all gains and losses recognised in the year.

The notes from pages 16-18 form part of these financial statements.

10

SCIENCES PO ALUMNI UK CHARITY TRUST STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 5 APRIL 2023

Current assets
Debtors
Cash at bank
Current Liabilities
Accruals
Net current assets
Total assets less current liabilities
Funds of the charity
Unrestricted funds
Restricted funds
Total charity funds
Notes
3
5
4
2023
£
21,375
72,579
93,954
1,500
92,454
92,454
81,538
10,916
92,454

2022
£
21,375
100,563
121,938
3,120
118,818
118,818
107,902
10,916
118,818




The financial statements were approved by the board of trustees and authorised for issue on 5 February 2024 , and are signed on behalf of the board by:

----- Start of picture text -----
Stefan LAVAU (Feb 4, 2024 23:23 GMT+1)
----- End of picture text -----

----- Start of picture text -----
}
----- End of picture text -----

Trustees

Stephane Rambosson ~~}~~ Stephane Rambosson (Feb 4, 2024 22:21 GMT)

The notes on pages 16 to 18 form part of these accounts.

11

SCIENCES PO ALUMNI UK CHARITY TRUST STATEMENT OF CASH FLOWS AS AT 5 APRIL 2023

Notes

Cash from operating activities
Net income/(expenditure)
5
Cash flows from investing activities
Dividends, interest and rents from investments

Net cash from/ (used in) investing activities

Cash flows from financing activities
Net cash from/ (used in) financing activities

Net (decrease)/increase in cash and cash equivalents
Cash and cash equivalents at the beginning of the year

Cash and cash equivalents at the end of the year
2023

£

(27,281)

(703)

(703)

0

(27,984)

100,563

72,579
2022
£
28,495
(14)
(14)
0
28,481
72,082
100,563

The notes on pages 16 to 18 form part of these financial statements.

12

SCIENCES PO ALUMNI UK CHARITY TRUST ACCOUNTING POLICIES AS AT 5 APRIL 2023

Accounting policies

a) BASIS OF ACCOUNTS PREPARATION

These statements have been prepared in compliance with FRS102, ‘The Financial Reporting Standard applicable in UK and Republic of Ireland’, The 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) (Charities SORP (FRS 102) and the Charities Act 2011.

b) INCOMING RESOURCES

Recognition of incoming resources

Incoming resources with related expenditure

Where incoming resources have related expenditure (as with fundraising or contract income) the incoming resources and related expenditure are reported gross in the SoFA.

Grants and donations

Grants and donations are only included in the statement of Financial Activities when the Charity has unconditional entitlement to the resources

Tax reclaims on donations and gifts

Incoming resources from tax reclaims are included in the Financial Activities at the same as the gift to which they relate.

Contractual income and performance related grants

This is only included in the SoFA once the related goods or services have been delivered.

Gifts in kind

13

SCIENCES PO ALUMNI UK CHARITY TRUST ACCOUNTING POLICIES AS AT 5 APRIL 2023

Donated services and facilities

These are only included in incoming resources (with an equivalent amount in resources expended) where the benefit to the charity is reasonably quantifiable, measurable and material. The value placed on these resources is the estimated value to the charity of the service or facility received.

Volunteer help

The value of any voluntary help received is not included in the accounts but is described in the trustees’ annual report.

Investment income

This is included in the accounts when receivable.

Restricted funds

Restricted Funds are funds which are used in accordance with the specific restrictions imposed by the donors. The cost of raising such funds is charged against these funds.

c) EXPENDITURE AND LIABILITIES

Liability recognition

Liabilities are recognised as soon as there is a legal or constructive obligation committing the charity to pay out resources.

Governance costs

Include costs of the preparation and examination of statutory accounts, the costs of trustee meetings and cost of any legal advice to trustees on governance or constitutional matters.

Grants with performance conditions

Where the charity gives a grant with conditions for its payment being a specific level of service or output to be provided, such grants are only recognised in the SoFA once the recipient of the grant has provided the specified service or output.

Grants payable without performance conditions

These are only recognised in the accounts when a commitment has been made and there are no conditions to be met relating to the grant which remain in the control of the charity .

Support Costs

Support costs include central functions and have been allocated to activity cost categories on a basis consistent with the use of resources, e.g. allocating property costs by floor areas, or per capita, staff costs by the time spent and other costs by their usage.

14

SCIENCES PO ALUMNI UK CHARITY TRUST ACCOUNTING POLICIES AS AT 5 APRIL 2023

Taxation

Sciences Po Alumni UK Charity Trust is a registered charity which renders its income exempt from UK income tax.

d) ASSETS

Tangible fixed assets for use by charity

These are capitalised if they can be used for more than one year and cost at least £500. They are valued at cost or a reasonable value on receipt.

Investments

Investments quoted on a recognised stock exchange are valued at market value at the year end. Other investment assets are included at trustees' best estimate of market value.

15

SCIENCES PO ALUMNI UK CHARITY TRUST NOTES TO THE FINANCIAL STATEMENTS AS AT 5 APRIL 2023

1. ANALYSIS OF INCOMING RESOURCES

Unrestricted Restricted Total Total
funds funds 2023 2022
£ £ £ £
Voluntary income
Donations and Gifts - 220,000 220,000 285,500
HMRC Gift Aid - - - 21,375
Amazon or Easy Fund Raising 5 - 5 5
5 220,000 220,005 306,880
Activities for generating funds
Revenues from Fundraising charity - - - -
gala dinner -
- -
- - - -
Investment income
Bank account interest 703 - 703 14
703 - 14 14
2. ANALYSIS OF OUTGOING RESOURCES
Unrestricted Restricted Total Total
funds funds 2023 2022
£ £ £ £
Cost of generating voluntary
income
Just Giving fees - - - -
- - - -
Fundraising costs
Gala expenditure - - - -
- - - -
Charitable activities
Scholarships paid to the London 25,500 - 25,500 25,500
School of Economics
Support of educative projects and - 220,000 220,000 285,000
scholarships, originated by Sciences
PO Paris
Kings College Scholarships - - - 10,000
25,500 220,000 245,500 320,500
Governance costs
Bank charges 132 - 132 86
Independent examiner’s fees 1,440 - 1,440 1,560
1,572 - 1,572 1,646

16

SCIENCES PO ALUMNI UK CHARITY TRUST NOTES TO THE FINANCIAL STATEMENTS AS AT 5 APRIL 2023

3. DEBTORS

HMRC Gift Aid
Total debtors
Unrestricted
funds
£
Restricted
funds
£
Total
2023
£
Total
2022
£
21,375
-
21,375
21,375
21,375
-
21,375
21,375

4. CREDITORS

Accruals
Total creditors
Unrestricted
funds
£
Restricted
funds
£
Total
2023
£
Total
2022
£
1,500
-
1,500
3,120
1,500
-
1,500
3,120

5. CASH AT BANK

HSBC Current Account
HSBC Money Manager
Total cash at bank
Unrestricted
funds
£
Restricted
funds
£
Total
2023
£
Total
2022
£
13,227
-
13,227
1,414
59,352
-
59,352
99,149
72,579
-
72,579
100,563

6. RECONCILIATION OF NET INCOME/(EXPENDITURE)TO NET CASH FLOW FROM OPERATING ACTIVITIES

Net income/(expenditure) for the reporting period
Adjustments for:
Dividends, interest and rents from investment
Increase/(decrease) in creditors
Decrease/(increase) in debtors
Net cash from/(used in) operating activities
2023
£
2022
£
(26,364)
(15,252)
703
14
(1,620)
-
-
43,733
(27,281)
28,495

17

SCIENCES PO ALUMNI UK CHARITY TRUST NOTES TO THE FINANCIAL STATEMENTS AS AT 5 APRIL 2023

7. RELATED PARTY TRANSACTIONS

Neither the Trustees nor any persons connected with them received any remuneration, benefits in kind from the Charity during the year (2022: £nil).

During the year under review, no trustees received reimbursement of travelling expenses (2022: £nil).

8. STAFF COSTS AND EMOLUMENTS

No remuneration or other benefits from employment with the charity or related entity were received by the trustees.

The Trustees have decided not to take out indemnity insurance for the present time.

9. CAPITAL COMMITMENTS

As at 5 April 2023, Sciences Po Alumni UK Charity Trust had no unprovided capital commitments.

Signature: Cecile d'Angelin Cecile d'Angelin (Feb 5, 2024 07:08 GMT+1) Email: cbdangelin@yahoo.co.uk

Signature:

Email: mslotine@slotine.hk

Signature: Xavier Quattrocchi-Oubradous (Feb 4, 2024 22:32 GMT) Email: xquattrocchi@yahoo.co.uk

Signature: Karen Wyatt (Feb 5, 2024 08:47 GMT) Email: karen.wyatt@wyatts.biz

18