## **CHARITY REGISTRATION NUMBER: 1128839** # **SCIENCES PO ALUMNI UK CHARITY TRUST TRUSTEES’ REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 April 2024** 1 **SCIENCES PO ALUMNI UK CHARITY TRUST TRUSTEES’ REPORT FOR THE YEAR ENDED 5 APRIL 2024** ## **Page** - 3 General Information 4-8 Trustees’ Report 9 Independent Examiner’s Report 10-11 Statement of Financial Activities 12 Balance Sheet 13 Cash Flow Statement 14-15 Accounting Policies 16-18 Notes to the Financial Statements 2 **SCIENCES PO ALUMNI UK CHARITY TRUST TRUSTEES’ REPORT FOR THE YEAR ENDED 5 APRIL 2024** ## **Trustees** ## **Treasurer** Cécile d’Angelin, Chair of trustees Stéphane Rambosson Maëva Slotine Laurence Borde (as of January 2024) Stefan Lavau Jean-Michel Tron (until January 2024) Xavier Quattrocchi-Oubradous Stefan Lavau ## **Correspondence Address** The Sciences Po Alumni UK Charity Trust c/ Mr Stephane Rambosson 2b Birch Grove London W3 9SN 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 2024** The Trustees submit their annual report, together with the accounts of the Charity, for the year ended 5 April 2024. 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 2024, the Trust has carried out this objective by: - Financing scholarships for Sciences Po students through the Bourse Emile Boutmy Scholarship scheme - Funding research cooperation programmes between Sciences Po, and Oxford University on the one hand and Cambridge University on the other, through respectively the OXPO and CAMPO programmes - Funding Sciences Po’s English Teaching Fellows programme - Contributing to the fight against gender-based and sexual violences - Contributing to the funding of Sciences Po’s St Thomas Campus ## **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. In the course of the year ended 5 April 2024, one of the Trustees, Mr Jean-Michel Tron, decided to resign from his mandate for personal reasons. Ms. Laurence Borde was appointed Trustee in January 2024. ## **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: - Adequate projects submitted by the Fondation Nationale des Sciences Politiques receive approbation of the trustees for grants 4 **SCIENCES PO ALUMNI UK CHARITY TRUST TRUSTEES’ REPORT FOR THE YEAR ENDED 5 APRIL 2024** - Scholarships be allocated to students through the Emile Boutmy scholarships managed by Sciences Po, and paid directly to Sciences Po ## **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 & Conflicts 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 student ~~s~~ 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 and monitoring the awarded students during the two years of their curriculum. ## **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 2024. ## **Financial Review** The Trust is pleased to have been able to raise £426,017 during the financial year 2023-2024. Most of the funds raised come from Donations. The Trust received between April 6[th] 2023 and April 5[th] 2024: - an amount of £326,286 total gifts, of which £282,054 should be considered restricted, as they should be directed to specific projects as per the donors’ wishes - an income of £74,746 generated by the Sciences Po Alumni UK 2024 Charity Gala dinner 5 **SCIENCES PO ALUMNI UK CHARITY TRUST TRUSTEES’ REPORT FOR THE YEAR ENDED 5 APRIL 2024** - and £1,515 gross interest generated by the Charity’s interest-bearing bank account. In addition, a gift aid from HMRC amounting to £23,470 is expected to be received during subsequent tax years. The amount of money spent during that financial year was £424,089, with the following use of proceeds: - £402,054 to educative projects discussed with Sciences Po, including: - Scholarships for Sciences Po students through the Bourse Emile Boutmy Scholarship scheme for a total amount of £103,054 - £66,000 to fund the tuition fees for international students, based on both outstanding academic results and strained financial resources - £37,054 for the Jean-Paul Fitoussi scholarship scheme, as per his family’s wishes - Research cooperation programmes between Sciences Po, and Oxford University on the one hand and Cambridge University on the other, through respectively the OXPO and CAMPO programmes, for a total amount of £37,000 - Funding the English Teaching Fellows programme, for a British post-doctorate fellow, for an amount of £17,000 - The fight against gender-based and sexual violences, for a total amount of £200,000 to respect the wishes specifically expressed by the Donors, to be paid to Sciences Po during the financial year ending 5 April 2024 - Allocating £45,000 to the funding of the St Thomas Campus, as per the wishes of the Donor, to be paid to Sciences Po during the financial year ending 5 April 2024 - £20,000 expenses related to the organisation of the 2024 Charity Gala dinner - £1,737 charges to Governance costs, incl. Independent Examination Fee and bank charges 6 **SCIENCES PO ALUMNI UK CHARITY TRUST TRUSTEES’ REPORT FOR THE YEAR ENDED 5 APRIL 2024** ## **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, with the main stake ~~hh~~ olders at Sciences Po including the Director of Sciences Po, the Head of Strategy and Development and their team in charge of managing Sciences Po’s relationships with Donors, the Director of the Center for Europe, as well as 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: - Select suitable accounting policies and then applying them consistently; - Observe the methods and principles of the Charities SORP; - Make judgments and estimates that are reasonable and prudent; - State whether applicable accounting standards have been followed, subject to any departures disclosed and explained in financial statements; and, - Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business. 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 2024 fraud and other irregularities. Tr Trustees are responsible for the rna1ntenan￿ and integnty ofthe charty and financial infomiation induded on the tharity's website. Approved by the TrLLStees on 5 Febrnary ￿125 arKI sign￿1 on Iheir behalf by: Signature: Signature: Name: Cecile d'Angelin Capacity: TnLStee Name: Stefan Lavau Capacllty: Tn￿ and Treasurer Signature: Name: XavieT Quattr(Kchi-Oubradous Capacity: Trustee Name: Stephane Rambosson Capacity: Trustee Signature: Signature: i￿..￿¥￿t￿¥￿Il￿b< }OA52J..57Ciir Name: Maeva Slotine Capacity: Tn￿tee Name: Laurence Borde Capacity: Trustee SCIENCES PO ALUMNI UK CHARrrY TRiIST INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 5 APRIL 2024 Indep8nd•nt Examknovs Roport to the trustees of S¢l¢nw Po Al￿nn[ UK Cha￿Y TnML I rerM)rt C￿ Ihe fr¢ ts year evth 5 Ap￿ 2024 Thtxh set￿t0￿ p4es 10-18. that an a￿111 is not required for thi5 year under seclion 144 of tr¢ Chwitss Art2011 (the Clprities A¢t) arKI that an 1r￿eper￿￿nt examin**m is ￿ded. It is ry responstjilty to: examine the &(xJunts undwwttt￿ 145 ofthe Charit*s A to follcw the prctedures laid in the gen￿al Thr&twJrts grnn Ch￿rtY lunder section 145151(bl of the char￿eS hrt aThJ B*sl$ of Indo￿tht •xamin•¢s statem My exanIn￿1)n wa5 carrEd in ac¢orfanc* wth pleral gi¥en by ts Chty Commiss￿. An examination includesa reviewoftheaccounting rwds kept ty the charity aThJ acompaTiSOll Oflheocc￿nlS presentwj wth those [ecC￿dS. It abo indudes consmleration of any unth8ual or di8cknures in the accounts and seeking explanathjns from Ihe trustees corwnj any such matter8. The wwedures undertaken do ncl provMJe al the eV￿J￿)ce that woukl tt reqUir￿j in an and consequenty no opinty)n Is given as trj whether the aoxunts present a kn and faif view a￿1 the reFth is linited to tr¥)se matte18 sei out in statwnert bekm. Indep•ndent Examknefs I have ¢>)mpletsd my ey2minatiorL l o)nfinn that ￿ rnatenal maitsrs havecoff£ ID my attenlkn In conneth)n . ￿c(￿nting rerxxds were in re5pec* dthe charty as reqwed by Sects￿ 130 ofthe Ac¢ or 3. ts financa81 Slatsn￿nts do ¢¢mOy Ihe 4plKabl8 rwiraments corwnirvj the IDrm and content of*¢ounts set (yjt in the Charitles (Acx￿rtS and ReFyJts) Regul*wts 2008 other ttwn any requireff*nt that the aox)unts give a Iru8 and frdlrf view is not a mthr as pa1 of indeFendent exaThn8tX￿. I have no aThl have coff* arxoss rK> oiher matbs in o)nnec*"on with the exa￿ana110n to whlch att￿Ik)n shO￿d be In this reptyt in order to a prw understamlry of the accounts to be Narw. Karen ￿atr FCA Relevant Profes¥K￿81 t￿y". ICAEW Address.. York HOLW. 1 Se8gr*¢ RCAI. Lonthn. s￿ 1 RP SCIENCES PO ALUMNI UK CHARITY TRUST STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 5 APRIL 2024 Funds 2024 Funds 2024 Totsl 2024 Total 2023 Income and gndownents Voluntary income 44.232 326,286 220,005 ActNities for generating fvnd5 74.746 74.746 HMRC GtftAd 23.470 Z3.470 Investrnent inwme 703 Total income 120 Expendfture Costs of Gon•ratlng Funds Fundraising costs 20.298 Charf(able aCti￿lIeS 120.¢JXJ 245.500 Governan￿ costs Total exponditurn Net incomellexpenditurn) before transfers Gross transfers betr￿n funds Net incomel(expenditure) before other recogni6ed gain$l(losse81 Other recognised gainslllosses) 121.5421 21470 1,928 126,3641 Net movement in funds (21.542) 23.470 1,W28 (26.3641 Totsl funds brought forward 118818 Total funds carried forward All income and expendTrture derive from continuing adivities. The statement of financial activiknes indtKles all gains and losses recognised in the year. The notes from pages 1&18 forrn part of these financial statements. 10 SCIENCES PO ALUMNI UK CHARITY TRUST STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 5 APRIL 2024 Notes 2024 2023 Current assets Debtors 44.845 21,375 Cash at bank 97.442 93,954 Current Liabilities Accruals Net current assets 92 454 Total assets less current liabiliiies Funds of the charity Unrestricted funds 59,996 81,538 Restricted funds Total charity funds The financial statements were approved by the fJ)ard of trust￿ and authorised for issue on 5 February 2025, and are signed on behalf of the board by: Trustees The notes on pages 16 to 18 fomi part of ttwe accounts. 11 **SCIENCES PO ALUMNI UK CHARITY TRUST BALANCE SHEET AS AT 5 APRIL 2024** |**Notes2023**

**£**

**Cash from operating activities**
Net income/(expenditure)
5**(18,467)**

**Cash flows from investing activities**
Dividends, interest and rents from investments
(1,515)

**Net cash from/ (used in) investing activities**
**(1,515)**

**Cash flows from financing activities**
**Net cash from/ (used in) financing activities**
**0**

**Net (decrease)/increase in cash and cash equivalents**(**19,982)**

Cash and cash equivalents at the beginning of the year
72,579

**Cash and cash equivalents at the end of the year**
**52,597**
|**2023**
**£**
**(27,281)**
(703)
**(703)**
**0**
**(27,984)**
100,563
**72,579**| |---|---| ||
| 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 2024** ## **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** - These are included in the Statement of Financial Activities (SoFA) when: - The charity becomes entailed to the resources - The trustees are virtually certain they will receive the resources and - The monetary value can be measured with sufficient reliability ## **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** - Gifts in kind are accounted for at a reasonable estimate of their value to the charity or the amount actually realised. - Gifts in kind for sale or distribution are included in the accounts as gifts only when sold or distributed by the charity. - Gifts in kind for use by the charity are included in the SoFA as incoming resources when receivable. 13 **SCIENCES PO ALUMNI UK CHARITY TRUST ACCOUNTING POLICIES AS AT 5 APRIL 2024** ## **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 2024** ## **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 2024** ## **1. ANALYSIS OF INCOMING RESOURCES** ||**Unrestricted**|**Restricted**|**Total**|**Total**| |---|---|---|---|---| ||**funds**|**funds**|**2024**|**2023**| ||**£**|**£**|**£**|**£**| |**Voluntary income**||||| |Donations and Gifts|44,214|282,054|326,268|220,000| |HMRC Gift Aid|-|23,470|23,470|-| |Amazon or Easy Fund Raising|18|-|18|5| ||**44,232**|**305,524**|**349,756**|**220,005**| |**Activities for generating funds**||||| |Revenues from Fundraising charity|74,746|-|74,746|-| |gala dinner||||| ||74,746|**-**|74,746|**-**| |**Investment income**||||| |Bank account interest|1,515|-|1,515|703| ||**1,515**|**-**|**1,515**|**703**| |**2. ANALYSIS OF OUTGOING RESOURCES**||||| ||**Unrestricted**|**Restricted**|**Total**|**Total**| ||**funds**|**funds**|**2024**|**2023**| ||**£**|**£**|**£**|**£**| |**Cost of generating voluntary**||||| |**income**||||| |Just Giving fees|-|-|-|-| ||**-**|**-**|**-**|**-**| |**Fundraising costs**||||| |Gala expenditure|20,298|-|20,298|-| ||**20,298**|**-**|**20,298**|**-**| |**Charitable activities**||||| |Scholarships paid to the London|-|-|-|25,500| |School of Economics||||| |Support of educative projects and|120,000|282,054|402,054|220,000| |scholarships, originated by Sciences||||| |PO Paris||||| |Kings College Scholarships|-|-|-|-| ||**120,000**|**282,054**|**402,054**|**245,500**| |**Governance costs**||||| |Bank charges|177|-|177|132| |Independent examiner’s fees|1,560|-|1,560|1,440| ||**1,737**|**-**|**1,737**|**1,572**| 16 **SCIENCES PO ALUMNI UK CHARITY TRUST NOTES TO THE FINANCIAL STATEMENTS AS AT 5 APRIL 2024** ## **3. DEBTORS** |HMRC Gift Aid
Total debtors|**Unrestricted**
**funds**
**£**
**Restricted**
**funds**
**£**
**Total**
**2024**
**£**
**Total**
**2023**
**£**
-
44,845
44,845
21,375| |---|---| ||**-**
**44,845**
**44,845**
**21,375**| ## **4. CREDITORS** |Accruals
Total creditors|**Unrestricted**
**funds**
**£**
**Restricted**
**funds**
**£**
**Total**
**2024**
**£**
**Total**
**2023**
**£**
3,060
-
3,060
1,500| |---|---| ||**3,060**
**-**
**3,060**
**1,500**| ## **5. CASH AT BANK** |HSBC Current Account
HSBC Money Manager
Total cash at bank|**Unrestricted**
**funds**
**£**
**Restricted**
**funds**
**£**
**Total**
**2024**
**£**
**Total**
**2023**
**£**
5,731
-
5,731
13,227
46,866
-
46,866
59,352| |---|---| ||**52,597**
**-**
**52,597**
**72,579**| ## **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**|**2024**
**£**
**2023**
**£**
1,928
(26,364)
1,515
703
1,560
(1,620)
(23,470)
-| |---|---| ||**(18,467)**
**(27,281)**| 17 **SCIENCES PO ALUMNI UK CHARITY TRUST NOTES TO THE FINANCIAL STATEMENTS AS AT 5 APRIL 2024** ## **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 (2023: £nil). During the year under review, no trustees received reimbursement of travelling expenses (2023: £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 2024, Sciences Po Alumni UK Charity Trust had no unprovided capital commitments. 18