RZGISTEREDCOMPANY NUMBER.. 06635942 IEn8land lld Wale51 REGISTLRED CHARITY NUMBER: 1146078 RyrtoftbtTrnrt¢ts and I¢11 Ststtments for th2 Yt4r Eoded JO 2024 for Georyetown Unlvtrslty IUSAI UK IMitltI Orgntsatlo Horroj Davis LLP Chirtcrcd A¢¢ouniants Statutory Awlitor 1st FIDor Healthaid Hous¢ M4rlborou8h Hill Harr¥iw Middlexx HAI IUD
Georgetown UnfvEf51ty IUSAI UK ]lti1t1¢S OrgMi54tSoD Cmltnts oftbe FinAnell StAttmehts for the lread•d 30 Jttne 2024 P•e R¢port ofthc Report of tht l#dwendeDt Aoditoys 8 to 10 StAtdn¢•¢ of Fiiatt¢l41 Aetivltitj BalAnc¢ Shett t2 Notes ¢0 th¢ Flnincl*l Stattments 13 10 19
Ceoryelowm Unlytrsity (USA} UK luihtlve5 OryanilI0 (Registcred Dumber. 066359411 Report olthe Trnsltts f•TthÈ ypir ¢ttdtd 30 Jutre Z024 The Iruiiegs ar¢ A150 direciof5 of the Gh8rity for pwposcs of the Companies Ad 2frf)6, present iheir rrrth with Ihe finanrial ststem¢n15 of Ih¢ chariiy for the yr ended 30 June 2024. The trUtt$ hav¢ thpttd ihe provisn5 of Actouniins and Re5X>rting by Charil¢eS= Si3iemeni of R¢roTrniended Pr&tli¢¢ 8pplicable to ¢harili¢S preparing th¢ir accou15 in accordance with the Finon¢iNI Rep)rting Standard applic&ble in the UK a1 iiEpublic of Irelarwj IFKS 102) letY¢¢live l JaTWary 2019). PRINCIPALACTIVITY The principal aciivity of CJCA)Y8c)wn Universi¢y IUSAI UK Iniiiatives OT80ni110n IGU UKI is wviding acodem(¢ cours2s in Londorl gt Ihc C¢nr for Tran5nalional Le1 st11¢s IcfLSI ro slu(knls from ATound the world studyig law at the rtiary or p)5t-graduate iev¢l, * well &$ presentlll8 public leciwes and oth¢r eduClOr1 esrnis durit18 the pdBmi¢ yc8r. OBJEcfiv&8 AND AcfiviTIES Obltttlve5 Ahd ¥im$ GU UK pursues the adv2n¢emenl of edLWIl)n by providing ucadcmi¢ in London w CTLS to siu¢knlS from around the world siudying law at th¢ tertiary or posl-yadu&te kvtl. &% well praeniin8 publi¢ l¢¢iurtt and oth¢r ¢duc81ional e¥etLlS duTin8 lh¢ aca(knii¢ y¢. CTtS w&% founded otb lh¢ priKipl¥ Ihal it 15 Increasingly importani for le8d du¢atioth to glob1 in n&lure and 10 include innli0&1. ru121FklTaiiYe, and Irdnsnatitsnal low so a5 kn yet]¢d Ihe incr¢•cd impxl elobgliz81ion on all manncr of kgal mdttcrs. In other w05d& as the wor]d "shrinks,. tr imp)Ttstic¢ of liaaLlOn and intemalionpl leEal i35u¢s grow> Tk followinB is B non-exhau5tiv¢ li5¢ of pt81 and tWT¥JI Q)Iirse Ioplfs pre5¢ni¢d within CTLS, PTovided by w•y of illllfftl(on'. trgttsnAtion•l legal iheory, compara¢ive coniv&¢t Ihcery world trad¢1aw, iniernational inVesent IHW. 4)mp8miv¢ p¢ivacy law. regulatn and dcvelopmcni. and ¢oJnparnlive legal iThslilUtion8. Siud¢nts and faculry L)[ cfLS are primarily drawn from Georg¢loMm Vniv¢rsity Law c¢er and runently 20 participin8 law sthtM)Is from around thc world: Buccri45 Law khool. th¢ Ciiy Univ¢r5ity of Hong Kong. ESADE L&w School ISp6iTh), Flee Univ¢r5ity ofBeriin. Jindal fjlobal Law Scknol. Ihe H¢brtw Univ¢rsiiy of Jcrnl¢m, King'5 Collegc London, Nwional Uni¥er5ily of S¢ngapor¢, Ponlifsca Univcrsidod Javeri8n& Univ¢tsidlld dc Las A¥neTlW, UniverSid de los Andes, Universidad PanaTDer&Rna, UDiver$id4d Torwaw di Tel. lh¢ Universiiy or Amstudam, th¢ Univetsiiy of Friu[g(Sl1ZerJl, lh¢ Uni¥¢fsiry ofmelboume. th¢ ikniv¢rsiiy ofN¢w Sothh W81¢s, Ihe Univw5ity of Torino. the Univ¢rsity of Torothlo. Yotsei Law Sth)ol. Studenis enro11 at othEr. notrporticipaling law sokno15 may lllyo apply ithdividoally 10 )ttend CTLS. Studenis attend cour%s gt cfLS on a 11-iime b&sis for onc academic ferrn during iheir ¢kgrte COUTse ai Iheir 'hom¢" iBw s¢hool, or ¢x¢eoionally fvr i I¢Tms. Sttthtkts hAvc aw¢nd¢d the cfLS programmg may 80 on 10 caT¢¢ts in law. th¢ judi¢i8ry. a¢&demic. 80verThme4)I servicG iniernationai organisaiions. chtriiies or nowvcrnrnental o¥ganissiions INGOS), or ¢lsewhere. Due 10 the global wop¢ ofpani¢ipiion. exh Cl iludeS Studts from a diver5r sei of kgal nwional ba¢kgrowids. SiudeAts of Georg0W University and the paTIicip&iin8 law Schools do Th)1 P&y lUtEion w (JU UK for iheif (¢9[ ai CTLS. Instead. sludenls al rffjrticipaling law schools coniinu¢ Io p8y ihrir tuition dir¢aly to their 'hO¢, knw xt¥>ol. Each of ihe partiEipaiing law schools or univerthlS pys a fixed 1¢¢ (o GU UK to kxrti¢ipHie. Georgetoivn Univetsity addiiiofbally t0Vi¢$ gra 1)rt8 lo CIU UK to 5UPP)rt its 0rati lft ord¢r 1¢ achievc GU UK'S glJc¢iiv¢s, Iht Tntstees have given UTcfiJl coNid¢rn¢iOn to Ihe Chgriry Commission's 8¢neral 8uid8ntt on public bencfit includinB Lts supplemeniary public benefit guidance ort adva1n8 on Ic¢ GU UK bcnefily the law SI10 from 8Tound ihe glob¢ who attend cfLS who Ikm8¢lv¢s mffy be in re¢eipi ai tlrtir me IRW s¢tllKkls of r50r1e5, ¥¢holar3hips. or other fin&781 51$1¢. GU UK'S activit5 also provide wider publlc iYnefi( in Bd¥w¢in8 th¢ ylaie of le88i edu¢&tion and kn0led8e in Ihe area oftransnaiional law Hnd iniern&liuDol law. Il is upcth¢d that 8 propDwiion of ihe $iudenis or crLS will we lh¢ ini¢rnaiion&l S¢gal eduulion Ihal they ghin &t CTLS in pJbli¢ servi¢¢ carc¢rs with 8ovemmert a8thci4 in1¢MlolI or80#iS81ior4 chorities. Nfj05 ()r 011r publi iniw¢$l org8ni$#ions. In addiiion, CU UK pttsents free public lecture& 8nd other events during the a¢Bd¢mir year (from Augusi io May). includingihc TransJw¢ional Lawcolloquia seriEs the L£ciures in TYan5n&ional Juslit¢. P1
G¢•rytown Unlvtrslty {USAI UK lttllitlves OryNtIO IReEl$ttttd Nuthr. 066359421 Rcportof Ihe Trnste¢5 r•rtb¢ yeYeNdid JQJ•ne 2024 ACHJEVEMENT AP40 PERFORMANCE The Ceni¢r for Trdnsnational Legal $IJ1¢s COThtim 10 off¢T a fvIIy bn-Frs0rn program duriTrK the 2023-24 ar2thmic year, duTing which thgrt wert 77 siud¢nts Irom 14 differtni %hools and 12 dilT¢renl ¢wniri¢s in the Fail 2023 sewier and 48 slwienis from I I diff¢rent srhoojs, r¢prcs¢nling9 ditYernl cobnirics inihe Swing2024 semesio. ITh¢ pvo8ram otT¢r¢d ¥ balan¢¢d variay of Wur in th¢ ficlds of publi¢ and privw¢ law, alon85idc IrIent¢d ourses. During Ihc fall 2023 s¢mrsier, cfLS offered nin¢ ¢ltIve cwrsts stalY by faculiy from CTiS paftner schools and locjl le88J practitioncrs. LouTse5 Covered an arrny of wpi¢s Tth8ing from In5uranc¢ Law 10 lth¢rnaiional Human Ri8his Law, fr( Thc New Frothievs of ArLiiirus1 IAw- mlL1j¢IorIl friims and com11110Th 10 TrsnaIlOnal rnvirontnenthl Law. In the Spring 2024 sefflCsr. CTLS off¢red teTh ¢lecti¥e coursc5 sraffed by facllY from CTLS pather instiltstions. Students wroll¢d in coutscs surh w Comparative I11131 Property l&w, Crim¢nolo&Y of Whilt-C(>llBr Crime, 8rtd Comparaiive Con5111Utional Law. Abnyide thcir elccilve wurs¢& siuden15 were cnroll¢d in ik COT¢ Course.. TronsnaiSon91 Law.. lthwoduciion and S¢le¢d Issues And ihe Glob81 Practic¢ Exwise in Ix>tb scmc51cr5 - an ithi¢rk%ivG n)ulii• exercise in tranatiOnal rtdlor MparaVe law. whi¢h providcd an opwrtunity for the diveryc deN$ and faculty al CTLS 10 wort together On a COMI l¢gal problem. Siudenis 81su aiiended wc¢kly ¢olloqui88Dd sPbal 8Uc Itu8 by S[[5 frorn a wotlEe or legal back8Ynunds 95 pari of the Tw8nsna¢ional Lgw colloq01ll aml Letiw&8 in TTansnalional Ju51ice series. Th¢ 2023-24 Lr¢S in Transn100al Ju%tiC¢ series sllc¢ess and u)nlinwed to exp3nd the Cenlc¢s ¢Thga8emenl with th¢ widgr IEgal wmmunily in Lortdon 4nd funher afield. IA th¢ Fdl 2Q23 ¥emcstcr. Prtsf¢550r Fareda Banda of SOAS, Univcrsity of IA)rtdon, and Professor David Cnoch of Hebiew University of Jerwlem and the Uniycrsity of Oxford, re invited io give Icaurts. the SpriD8 2024 sem¢ster, cfLS inviied Niwiat Ihd, memb of lh¢ Mcia Over5ighi Bo8rO and Execl¥t D1ct(w of the Digitsl Rights Foundatii)n, 8nd Prof¢550r CTh&ng or IheNatioDsl Twwan University. A varlety of lTrp¢JtI Wcidl ¢v¢nls w¢re alw olT¢rd both s¢rn#rs. enabling siudenis 8nd fsuliy tu en8a8¢ with the PTograrn and each other. Events Iluded walkithg iours ofb¢Aal London. mid-5em¢sler pub niebts ond 5¢veral movie nights. The prograw also h05ted a numlKt of caT¢tt talk5, with sFKakers ijKluding Jonath2n Evll Parttr at Knety5 Law LLP and Ra¢hel Styipn from thB Asy)¢iaiionof Financi81 MBrkeis in Europ¢. Sn th¢ F•ll 2023 s¢mtsi#. a ¢lz$5 ficld irip w G¢n¢va wa5 org4Dixed by Profe5Wts Luc& Rubini (Universiiy of Totinol Yuval Shany IHcbrew Unlversiiy of J¢nJsalcml in conneciion With t11 ¢las8ts on Inlernalional Trade L4w aThl Inicrnaiional Hlrnan Rights Law respectively. The siudalts Yisiied I1 WorW TThle Or8anization md Office of th¢ High Cornmission¢r for Human Righls. In th¢ $ptttE senrtSl¢T. IiK C¢ntv offercd two field trip5. CI'LS Academic cTrDkreQrs Pwf¢ssor Yuval Shany {He¢W University OfjenleI yVonT¢ IGeorgeiown Law) organized a trip 10 The 118ue, whBre denIS visited the Intetnalional cri1nl Collrt Ihe IAlernational Court of Ju1£¢. Tn &ddiiiQn Pro(essoT F.v& Maria Belser (University of Fribourg) 018aniz¢d ll Iiip 10 StrastrfJUT8 in corbne¢tion wlih tLer Human Rights Course. sILents Y1$5ted thc European Court of Hmian Righis and mcl wih Swis5 Judge Mr AndT¢ Zond. F8ciliL&iin8 such visits off¢rs cfLS s(ud¢nig Ih¢ Chance lo with¢55 how lawyers from a r8nge of differenl bkyoUdS 80 on io d¢velop th¢ir o¢er& whilu also decpening their 5ubsiantiYC UTLderstandirtg of particular subj¢¢t crLS pmi¢ipaic in th¢ Wilkm C. Vis lthttrrAtionJl Corotnewial Ar1rail0h Moot in Vienna thirin8 the 2023-24 academi¢ yeHr, hiring ¢erTh91 coach M& Gr8¢e Chen& a borri5ter ai 39 Cknambcrs in LO[0Th. The te8tii IODk part in the iTrF¢rson Budap¢5t Pr¢-Mwt. ctLS 5enl o ieBm lo p8rticipaiE in the N¢lson Mandel World HumBn Righis Mooi, hiring ext¢mal coa¢h Ms. Dxw Pel¢rwn, Visitin8 Lcclurtr irs Public Inlcmalional Law Mwlin8o1 Kin8'$ College London. Sendibs for >JMlitI0rts allowed 51ud¢ni$ frotneath S¢mEder lh¢ opp)rtunity 10 take p in ort in1ern&iOt tnooi comFlillOlI. Thcse ¢wvriCll arc hugely Tewardl for siudenis and allow Ih¢ffl 10 (kvelop their ¥kills % advocai¢s. cfLSwill wniSnlle recruit iew)5 foT ¢ornpciitions in (he nrxi a&Bmi¢ year. CTtS is cornJuitt¢d 10 incrta3ing alwnni etyga9ern and torrtinwd EO promote ils AlumDi Hub inih¢ 2023-24 yrar. a uniqu¢ plaiforni for yuden13 10 dI0Ver ¢aTecr opporturLliies aid professional deyelopmerti. All former CTLS studcnts are inv¢ta 10 join the Hub to reconnect Mth Iheir cfLS wlkagues and 8row their proft$slonal ¢iKk. cfLS also Ixun¢kd an alumni wcbpRge in Fall 2023. to show¢ profil¢s of formtt CTLS 8lu(krLI$. P8ge 2
G¢otgdowTh Unlvtrslty IUSAI UK InStlg¢lves Origllimlion IRe8i>tered nuJrJ&er.' ffj6635942) R¢port ollhe Trn5teEs for tht yeAr 30 Julle 2024 CTI,S In Ar¢1• cris TelawKhed it5 Annual Aead¢mic Conferen¢¢ in May 2024 &%thc'CTLS Global Conference". The CDnfcrtrtce WBS or8anised by Cl-LS A¢ad¢mic Co-Directors Pr¢S5or Yuval ShaDy (Hetrnv University of JerLLtslunl gnd Profes$0 Yvonne Tew IGeorg¢toivyk LAWI and them¢ ws'Consiiluiionalism irtTimes ofcrisis.. TiansnalionDI Puspcciives o ChallcTh8c$ & Way$ FOlTd, The Olobal Confertnc¢ includd a svi¢s of pan¢ls by lelIng emi¢S ID th¢ fjeld followed by a high.profile keynoie pan¢] and r¢¢¢pLion for alumni, with keyttoie sp¢akeT5 Brenda Ilalt. Baroncss H?le ofRithmorKI and Fomicr Pr¢sidenl ofih¢ U.K. Supreme Court, and Kai¢ (YRe8an. Professor of Human Rights Law ar¥1 Direthor ofih¢ llonaven) In#iiute ofHuman Rights ai thc Univcr5ity of Oxford, and Fthn¢r JuO8e tsf th¢ Consiilutional Court ofsouih Africa. Tr confcience was w¢ll.att¢ndal by leèding a¢sdemies in the fi¢l(L siud¢nlS. lacully Oj CILS alumni. CTLS will coniinw wlik lh¥ Glob81 Conf¢rae ith up¢omin8academic yearn rdatsng locgliort beCert Londort ond its partncr 5¢IoIs. crLS also expanded lis Summ¢T S¢holavs-in.Resid¢n¢t Progrll in the surnmer of2024. kn81ing fow fvll-lime faculry from Georg¢town Law and two from the Naiionftl Universlty ofsingapo. The Progrnn was desi8ncd io allow fa¢ulty to spend orte io four wttks 81 CTLS in b)ndon 10 LX)rucl T¢aTch and 10 8encra scholarly wllalxTrrwions over Ihc 5mmer pcriod. cfLS plan> ¢xttt¥J ihe pro farulty from other Partner in51iiutsO% from 5umm¢r of 2023. FUTURE DEVEiX)PMENrs crLS coThlinu¢5 ils eiforty 10 recruii inthp¢ndel 51udem5. In Ihe 2023-24 a¢&demi¢ year CTtS rdn a pBid adv¢rtisins trampBigA via Linkedln aimd ai poieniial independen¢ students from ihe US aThJ wolled iwo Jwd¢tsis from new US sclx)ols to attend the ptO8ram in 2024-25. CTLS also continuc5 to incr¢ slunI ¢n8a8emcDI, foctsssing effon5 on iTrvilin8 alumni 10 8iv¢ career ialks at CTLS dtsrin8 the 21J24-25 8rndemi¢ year Jryl plannin8 for ihe sprin8 2025 CTLS Global Conferen¢¢ Iatl alumni ¢Yenl. CTLS also added two addilionaj partn¢rs frorn Fall 2024. IE Law S¢kn)l joined for th¢ lime as an IDi¢mKdiNte Pjrfrtr and UnivcwsidO¢ d¢ sao Paulo r¢join¢d al Ihc I¢rmed1•* Partner lev¢l. Psgc 3
G¢ory¢toivN Unlverslty IUSAI UK l#itLfitlve5 ory4151fyD IRtyist¢rtd tywrlleT. lf59121 Report•f IheTYusf¢ES for ¢be Yearthd 30 J#De 2024 FIDIANCIAL RKVIKW The Siat¢mcni of FinanGial Acliviiies 5th on pag¢ I l of th¢ financial 5taicmenls show5 how GU UK'S inc(Kn¢•g r¢sources weTC cxpcndcd inihcycwrtndcd 30 June 2024. Total urrtsiiict¢d incoming resour¢es atnouni¢d to Sl.137.025 12023 SI,080,0451. $3W,I)W (2023- 5300,(X)01 r¢c¢ived in the form of8ift5 and $837,025 12023- $780.0451 of tuiiiOO and fees recaved. Resovrtrs ¢XPeI¢d amourted 10 $1,308.44412023- $1,122.4271 on ¢ducaiion. An #nttlysis ofthe reyoww cxpeNled is provNied in noS 4 to 5 ofih¢ financi?1 sttm¢nts. Th¢ resulting d¢fJcii for ihB year on unreAri¢ted funds was {5171.4191 (2023- V2,382 dcfbcll), wh¢¢h gave a iotsl ndS dtfi¢ii of$J,947.28212023. $3.775,863). The balance 5h¢¢i set out on poge 12 ofihc fin&0¢181 ststements show5 th¢ finv]l position of GU UK Bt 30 Jurx 2024. Currthl &ss¢ts we represcnkd by debiorj L)f $63.382 (2023 . $17.9421 and Lsh w bsnk and in haNiof $263J6412023 $126,017). Toial ass$ It55 ¢wret liabiliiies 8muunted ls3,947,282)1202J-1$s.7?s,86j)l whi¢b 18 rewnled by ihe closig balance ofi$3,947.282112023 -1$3.775.86311 Ofunreslr funds gnd Snil ofresiricled fuTrds. GU UK 58 MmI(d to usin8 its r¢Sot9 in pursuil of its chÉri13ble obje¢iive5. AllhDugh the firwcial stakmatts of GU UK r¢fleded a ne8aliv¢ re5¢rv¢ LanC¢ 30 June 2024, GU UK i$ commitd to securing a level OrserVeS that bs svificiEnl io ensur¢ thai all ¢oThmiimenis Can b¢ mei and 10 PiOtEd ihe lonterni future of its op¢raiion until GU UK secur¥ a l¢vel of serVeS 10 meei ils on"gujt)8 liabilitics. G¢(gelOll Uniyttsiiy Iihe Univ¢rsiiyI is commin¢d provi(k Iht re50ui¢e5 nE&kd 10 siistain GU UK'S 8diviu¢& GU UK 15 &yes5ing n¢w ini¢ialiV¢S th will sthilizc the op¢raiing re5uIIs 8oin8 forward. These n¢w iniiialives Include incre95ed tullin, in¢TeL%ed ¢nrollmeThi, 8Dd tr pursvit of oth¢r edUClnl prograts $uch as execlltiY¢ Cdueaiion. IrLcl$td revenues will p)silivdy atTecl Ihe rUre fin8n¢ial results and Tedu¢e GU UK'S d¢FKThlency on Ihr Univ¢rsjty. GU UK rclies vcry rnuch on lh¢ fingncial op¢r8tional Sup of Ihc Univus¢ty 15 grnteful lo th¢ Univusiiy for its $upwrt. Rt5eTves policy Th¢¢hily is [d by the University And there Rre rMI TcservcscaTded fon¥aTd. Golhgwnt¢r The financisl S¢entS have bcen pred on 8 goiDB torKcm knis os Ihc FAteni undertukiDE Iw ll1¢8ted 115 Ilin8De5s provide the Dece5wy financial support lo tnabl¢ the cornw to rneet its liabiliiies for lew twelve monihs from Ihe dai¢ of approval of these financial sl&lemrnt& P¥4
Gtoygetown Univtrsity IUSAI UK InilNltSYts Orgwnisation IRtgisttr¢d A#mber.' 06635942) Rtpfyrt ol¢b¢Trnste¢s for tbe ytAr ended 30 Jut 2024 FUTURE PLANS 'LS parI[shIP re¢Niimeni cfforf5 Wntin focus on incr¢a$ing diversity. CTLS is aclively s¢¢king its first Pro Bono partner, foiu55ing on re¢ruithJEni froffl Africa. Th¢ Universty of New Souih W•le3 ha5 d50 indic8¢d thu they would like 10 move from lh¢ Interm1 ts) Ihe FouDth"ng Partntt levcl. CTLS remains cOrlouS of thc impkti of 8dditional siudents OTI spacr nctds is taki tt nK85urcd apPrth to partnership recruiimem whik also looking Ion8-Icrn spac¢ OPliODS. lllthe upwmi08 ycar, CTLS al ¢xfft: -To strenert Iwhing by ntInuing w emphwiteco-i£achingat¥J faculiy attd 5¢udeni¢nBagvrt - To continue developing a curricul which is well-bjignced bC1wfft twsiness and non-busiTr¢55 sittl5. bIl¢ law iyate law, IhE(Kelical and dothrinHVpiaCti1. -To ¢oniinuc Incr1ng the div¢tsiiy ofihe program partiCiP8ntsgvd the Gurrtculum. -T¢ continue dtv¢lopiTrg CTLS a$ a platkom for IcciurtS partls, and hi8h.piofile JJKakers by buildin8 w thc resewGh and sth)larship aspect ofihe entcrprise and throu8h iDCTe&scd Alni ¢n8meN.
CEtsrEelDWTh UnlYtrsltylUSA) UK IDltitfv¢$ OryAni191ion IR¢gi5tcr¢d nuoJb¢r'. 116635942) Report •f th¢Trusttos for tbt y•irended JOJll#¢ 2024 STRUCTUR& GOVERNANCE AND MANAGEMENT GU LIK is a ¢Trmpany limiied by 8UaTanitt Icomwy Te8isirior¢ numb¢r 066359421 a1 is 8o¥e¥ned by i Memorandum and Articles of AssociJiion. GU UK is r¢gisiL¥¢d Miih the Charity Cornmissi¢)n of En8laJd and Wak Icharily TegisLraiion number 11460781. wilh Effeci from 23 Febtuary 2012. The Tru5 who are 8150 thc direuors for lh¢ purptk5es of company law, serv¢d during ikycor dup to IIK date ollhe rert .. W. Trvanor M. D, fjrecn Trus¢9 use Iheir own ndworkofo)thiacts w ¥J¢Mify suirabl¢ ¢andidai¢s posstssin8 tceSsary kNTrwl¢d8e $kills ID act a$ Trnsi¢es of GU UK. At the pte5¢rtt lim¢, GU UK ha5 three tru¢¢$ %thith is ctyi$ideT¢d athqua¢t its pUtTrS. TrUSS are recyuitrd on Ihe btsis of (heir cxi%iing le¥th kwwl¢dg¢. InfimatKm TclJtinE lo fju UK¥ le yTalUS, rinBn¢¢sand activities are pravidcd iDBdvarKe of ?pw)lntsnt. Tru5kr5are expB¢ied to id¢ntify their tr&In1ed8 and io lak¢ mggsures lo erk%uT¢ that Ikse A¢eds 8remet. GU UK ihrtc Trusi¢e5, which are {il lh¢ Univ¢rsity. I non-profli inslilutiort of higher c110M urgaTLis¢d &8 non-stock Wrr&i10 under frderal chaTW in th¢ Unikd States of Am¢riGa (the Uniycfsityl r¢prcseJled by Ihc individu81 holding Ihe posiiioll of Sccrclaryof Ihe Univ¢rsityl. Iiil Ibe indivsdual hklding ihe po$iiion ofChi¢f Finwjcial oiri¢er at lh¢ University. and lsii} the individual holding the PDSltion orExtiVC Vic¢ Pruidcnt for Cenler Affaits and Dean of the L8w Centw at the University. Th¢ two aforernenliod iNlividuats serv¢ as memb¢r5 by virtue of tt)e pt>sitions Ihey IK)Id at lh¢ UniveE5ity' if Ihey w¢r¢ to l¢ave th¢ir positions al Ihe Universiiy. Ihe M5tershtps would IrHnsf¢rto their 5cesS0¥S in Ihcir posi110 ai the Uniyersily. GU UKS pl¢¢y is sd by ihe Boord of TN51ecs Iihe "Boatd'l, ond an AdmizLislraliv¢ thtor, wrrenily Maik¢ Kollerbtt-wilson. exerci$ the d¥y-to4lay man&gem¢M of cfLS. The Tru5kCS ofGU UK or th¥ Board may, frorn lime 10 lime, app)inl any p¢Ysots os ll mernbcr of ihe tloard either 10 fill a casual vwancy or by wayof addition IIK Bw[4 subject to the provisLons of lh¢ Articles of Asswiaiion. Any Trustee so oppoinied shall rrflin oifite until k or th¢ re5iw z& a Iru5tre of GU UK or upoTr oih¢r ¢ir¢um$taN¢s set forth in the Articles of A350¢iaiion. RISK STATKMENT Th¢ TntsieEs are awart ofih¢ir re5pgnsibilily 10 erL%ure thttl the rn8jor ri5k5 10 Mthirh GU UK 55 ve identificd ad io tsiahlish sythms lu mifiBale ihose risks. The Trw¢ee% EKli¢v¢ that 4Vate conlrols ond syslcmg Jre in pla¢e lo miligateany ¢xlErnal intemal risks tIb GU UK may fa¢< REFERENCE AND ADMI,1ST]VE DETAILS Regbtértd CompAny n#mbew 06635942 (Enand and Wales) Rryistsrel Cbrlty number 1146078 Ro8lstered oifite 1st Floor Heulthaid Hoe MarllxTrmugh Hill Hwrow iA>ndDn HAI IUD TrSte¢S W Tre?r DB YQTeen Ms M Mattg)n Page 6
Gtorietowty UhlweT5ity IUSAI UK IMlliitiV15 Org4nl$ation IKe815tcred n#mher. 066JS9421 Rep)rt ofth¢Tru5ters for Iht yareMd JOJ¥nt 2024 REFERENCE AND ADMINISTRATIVE DETAIiS AuditOTS CTanl Harrod Lerrnan Davis LLP Chart¢red A¢wut)WI5 Stalury Atmliior Isi Floor He¢haid House MarITough Hill Harrtlw Midd1¢5¢X 11A1 IUD srATEMENT OFTRusfEFS' RLSPONSIBJLITIES Th¢ Tru51ccs Iwh) ar¢ a150 ik dir¢cfors of Gcorgeiown Univetsiry IUSAI UK Initiall# orglOp for ik purFWS of wmpany lawl Br¢ resrrt)nsible fi)r preparing the Rwort ofihe Trusiees ory1 ih¢ financi?1 sl&i¢rnenlS in a¢cord&EKc wilh applicthle and Uniicd Kin8donb A¢c<MMiiingStsAdards (Uniied Kingdom Grfteraily Accepied Accounlin8 PFadi¢el. Company law requires ihe Trustee5 10 prepxre finattcial 5th1ement3 for e&ch fin8n¢ial year which givc a true fvir view of Ihe siaie of &tT8irs of the ¢harilable CoMpY end ol the incoThing re50urcey MI applicaiion of resou¢& iAcl¥ding the ]roMe aThl expwl1r¢ of the ¢lwiiable compRny for thal periiKI. In preparing iknsc fingn¢iul $w¢rnent4 IhE Tnsslecsa requir¢d 10 . select S1111able wliciesand IhEnoppty ttKm conslsi¢nlty' - obstrve th¢ methods ttnd PTit)cipl¢s in the Ch9rity SORP.. - rnske jud8ern¢nts and C81imalCS th&¢ arc r¢&sonabl¢ and prudcnt: . prEpar¢ the financi81 s¢ai¢m¢nl$ on the goin8 concern b8$i5 unless il is inapFxopfiBte to prUme iknat thariwble ¢omp3ny will Eonlinuc in busin¢55. Thc Trwstee5 gre rtsportsible fork¢eping pT0r aC¢olingT¢¢0rIs wh¢ch dix105C With reax)rt8bl¢ accuriLy al any timc Ih¢ firKi$l tP)SiEion of dritable ¢ornprtny 8nd 10 enablc IIKM to ensure ihal (he fiD8ncial siat¢menls Cornply wilh the CompaniEs Aci 2006. Th¢y ar¢ 2150 resnSible for 5aftEuar¢JiTLg the a55cts of Ihc ¢haritable wmpany aJKi henc¢ for thking reasonable srrys for ihc preAllOn and demion of fraod and other irregu]8rilits. ITr w faras lh¢ are a¥4we'. . is Th) l¢v&t audii infornwtiott of which th¢¢h8riiabk compsny's audilOT5 aye utiawHrv. wd the IrusteBS have iaken all 31ePS thai they ought have lak¢n to m4ke Ihynsrlvcs iw8v¢ of any rekv#ni audit infofmalioii ¢s¢ablish that Iht &udill)rs AYl8reofihai information. AUDITORS The auditors. Grant H#rrod Lernw Davis LLP. will k propDs¢d for re-4p1ntnffl at th¢ fortloming Arfflual CeTwal Mc¢iin Awroved by ord¢rof Ik board0fmteeS oE).-.... .. .. si8rd on itsb¢halfby'. D B P Green- Truslec
Rcpurt ofthe lthd¢pewdeit Audilors t• the Memb¢rsor GeorEelowN University IUSAI UK Initi•tiv¢s OrynisWtIo• Oplmio We have audited the financial ofGeor8eiown University IUSAI UK Inliiaiivcs Or8ani581iorb (the '¢knitabl¢ compEnrfl for the year cndcd 30 Junc 2024 whi¢h comprise th¢ SiakmcDI of FiDBntl81 A¢tiYill¢5. Iht Balartt Sh¢¢t, the C)sh Flow and no io Ihe financial sial¢ments, includiryg A swnmary of signifironl acCouling pDlicie$. The financi rwrfing ftamcwoTk has applied in their w¢ptyaiion is applic1¢ law aThd Unid Kingdom ACCoting St3ndards (United KirBthm (knxrally A¢cwled AcGouniing PTrcLlttI. In ouropinion ihe financial aal¢ments'. give a tru¢ and lair view of the $ia¢¥ of ihB cborithble comwy'5 affair5 as 81 30 June 2024 of its incoming WeSOUWE3 and wplicalion Of rvA>ur¢e& in¢lthling¢lS income 8ndc%pendiiure. for the yearthETh ¥ed.. bavc b¢en properly prepwed ina)rdance with UThitcd Kingdo Gen¢rally AcGced Accounti PTathiC¢'. hav¢ be¢n prepared in attOTdarKe with th¢ rwuir¢JDenisof th¢ Compani¢s Ad 2006. Bsfy foropiio Wc conducd our aud51 in 8ccor(kn wilh lThttrn#tw)rAI St8sthrds on Audiiing {UKI IISA5 IUKII opplic4bl¢ law. Our r¢$pon$ibililics those sianduTds are further d¢scribcd in th¢ Audiioré r¢5ponsib>litie$ for the 9All of the fingtial sllliem¢nlS seciion Df our rq>ort. Wc 8r£ i1¢pendent of the charitablc company in accordarKY wiib Iht cihical quirEsoents Ihal are rclevini to audit Df Ihe fincial siatefflents in lh¢ UK. inc)Ing th¢ FRC5 Ethicoi Sthndard. and the proyisions avaIlle foT small eniilics, in circiimstsncc5 sel in rLoft 16 th (h¢ fiDwcial Slalem¢nL%. w¢ Ive fislfilled our olher ahic81 rtspon5ibilitLe5 In 8C¢OTdaft¢¢ wilh Ihc5e requiY¢rnen15. We believe Ihal ¢h¢ uudii ¢vIde[ we obtained is sutfKi¢nL and appropTiak provide ab8sis for our opinion. Con¢luslons Ttltin8 to Etrlig ¢onter ID ¥uditin8 th¢ finan¢ial eMen1$ w¢ hav¢ con¢1led thai Ihc In¢¢. u¥¢ going ¢LKKern ba5i5ofa)Unllg in the pr¢paroiion of Ihe finala1 ai¢rnthi$ 15 appropri&i¢. Base41 on Ibe work have p¢rfomied we have wt Idmified any mawrial ertaInlI¢S retAiin8 ts CVenl5 or wndttlon5 th& indi¥idually OT ¢olkthively may ¢351 $ignifKant doubt on the cbgriiable COMpS ability eontinue a 8Oillg concern fora period ofat leL81 twelve monihs fr(pm Wh th¢ final111 siemeDts8Teauth)ri$ed foT isst Our resportsibillties gnd thc respon5ibilil¢¢s of the truslets Mih to going corKem r thribed in th¢ reievgnt seaions of this rwTI. Otk¢r infomtlo Th¢ Iet$ are rupons¢bl¢ foi ihE oiher inforfflaltorn The othtt informaison comprises ihE infortnaiiort in the Armuol REpoiL oiktr than Ihc fina111 stafrment5 and our Report of the lThJependent Auditors Ih¢rtM. Ow opinion ort fin¢la7 %tiem¢nts th)¢s not toyer Ihc oiher infonndiion aThl, ex¢W to thE ex1 Ot[wiSe expli¢iily siatcd in w report, we do not expr&s5 &ny form of as5uran¢¢ conclusion ihereoD. In ¢oJuKction wilh audil of thr finarKial starnents. our responsibility is 10 read Oth informaiion aTh4. in doin8 so wnsider wheihcr the oihEr infornlation mBltrially incosisi¢ni wilh Ih¢ finan¢i815taiem¢nlS Oi ktK)wl¢dge oblDed in Ihe audit or 0lh¥wise appr5 to be tnaierially missiata. If we ideniity surh maUL81 I0[}815n¢ts or Jpparenl moieria] misswiemeiits, we arc rquiTed ID dcrmin¢ whethcr thi5 giv¢s ris¢ lo a m8fi41 m¢sstenKnt in th¢ rintncial SLgi¢m¢nts ih¢m$elvc5. If, b¢d on ihe work wc have p¢rfoThed, we wThclud¢ th thE¥e 15 a rnaittial mi55tai¢meniolihis (ther inforniation. we AT¢ Tequir¢d w rqx)n Ihat f1. We h&v¢ Mihiryto rep)n irtthi5 rewd. OplDio•$ w other mltters prt5rrlbed by IheComp•niu Act 2006 In our opinion. i)L8ed ot5 Ihc ¥rk ue[l¥ken in the course OfthealIt.' ike informaiion Biyell in Ihc R¢port of ihe Tru5tce5 fi)t the finatKtBI Y for whirh the fina191 siw¢nols are weparrd is tons15tetti with Ihe financial sloiemuit& and the Rcport of thc Truyees has been prepared in ac¢ordèrtc¢ wilh applible l¢Bal requw¢ments. Pa8e 8
R¢port arithe In&cpendenf Auditors tts the Memberl of Gt•ryetowN UDiversily IUSAI UK InitilIVes0bytsv Matters which we art rt4uirrd to rtpfyrt by Qxceptlon In lh¢ light of the krK>wl¢dK¢ and nd¢randIng of ¢haritsble compary and 115 environmenl obtained in the courx of lh¢ •udil. we hav¢ Idlifled m8ierial rnisswemen15 Irt Ihc Report oftrK Trustees. W¢ have nothingto r¢port in Trswof the follvwin8 matt¢T5 whEte Ik Cumpanie5 A¢1 2(X)6 rcquires us to r¢porl 10 YOU if, inour opin¢on-. adeqvale accounting Tecords have rtoi bcen kcpl or retuTh ¥deqle far OUT aLKii( have ¢v)i bEen received frorn branches noi visited by us.. OT the finaNi81 eMen(S noi agreetnenl with thE Rccoun¢ithg re¢or(ls and rclum5- 01 certain d15ciosU1¢50f Inl¢es, remur¢efalion specifia by law are rnl mad¢: vr we hav¢ no¢ reived all ihe infomiatiot) and explot)otions we require for our audiL 01 tk iruster5 were not enliild to tak¢ advantagc of thc 51nall ¢oms)anies exemOiOll from the requiNnenl ¢0 Strate8i¢ Report or in prq)arin8 the R¢prt ofthe Twglets. RupoDylbilltSes o¢tr¥5tees As explaincd morc fully in Ihe Smiement of TrLL8tc¢s' Rc5p)nsibilitie& the tw$t¥ Are also lh¢ diTe¢¢ors of tht charitable mPanY for thr purrx)5¢5 of comwy lttw) are reswTrrsible for the PT¢paraiion of the finttncial st8wn¢nts for bein¥$atisfied tha¢ Ihey giv¢ # tttle fair vi¢w, for wch inlcwtol tonirol the Irusi#s delcrmii¢ is necessary to ¢nable Ib¢ preparotion of finwoial 8t&tcmeM5 ¢t arc free fvom mat¢riuJ mi551ate5ncnl, wheJherdu¢ to fraudorerror. lft prep18 the fillancial 5¢•1em¢ThlS. Ihe lite¢S are resn51bk for asse&%ing iht ¢h8ritable comp8nS abilsiy io eoniirtuc &8 a going disclosing. as applicablk mattcrs i¢laied to 8oin8 concern and usitlg the goinK ¢on#m basis of accouniing unl¢s$ the INs*e5 ciikr inltnd 10 liwidak Ihc tharil&bl¢ compaoy or to ce&s¢ operatior& or knve o rc81istic glEernaiive bui todo g). PaKe 9
Reprtrt of the IndeptTrdettt Audltors to the Mewb¢r or Geory¢loww UnivetsSty IUSAI UK Our re5POn5ibilities forthe Audlt •f th¢ lID5cIal slgtsmeuls Our obje¢tiVC5 Br¢ 10 obiain rea8onable a>$uran¢c aknut whEiher Ihc fJwial statem¢Trts as a wlK)le free frorn mai¢rial mi5Stakment, whether du¢ 10 fraud or eNor, and 10 i%ue a Report of the ID&pEnLknt Audblovs thai inLlud¢s u opinion. Reasonabl¢ 355urnncc is a high Igvel of wuranck bui is rjoi a 8antee Ihat an awjil coNluclcd in aCCordE¢ wilh ISAS {UKI will 8lways d¢le¢t a mai¢rial misstatemenl wh¢n it exists. Misstsiemen15 gEiSe from frwd error &rn1 ¥¢ onsidcr¢d malcrial if, bndividually or in Ihe asgregal¢, Ihey ¢ould rcwThably be ¢Kped¢d to inllwice the econorni¢ deci8Lons of us¢rs iak¢non th¢ b&sis Ihc5c financial stai¢menlS Th¢ exierrt 10 whicho¥r Procedures JTC Capabbe ofdetething irrewlftriiie5, IludIng fr#ud is detslkd bttlow-. W¢ hx¥e obiain¢d arb derStalIng of Iht l¢gal and regulatory fraMcwkS applicabic to Cop9nY and the indLtsiry iioperalEk We dmiTh¢d Ihai the follo%wni14ws Tegulalions W¢Te m051 signifi-. FRS102, Companics Act 2006. Healih and safety, W¢ obiald an undrrswndlng of IKJW the coMY 1$ MplyIng wilh those1¢8al and rc8ulawry frkniewTkts by rnakiDg enquiries of managent. iknsc rtwnsiblc for l¢Ral and compliarfc wo¢edur&q and t ¢ompany S¢L¥e4ary. Our rJThlin85 werc corrot&)rnfrd by ievi¢w ofihe board minulcs tnd papgrs prepared by ihe bo8Td of dlre¢to We A55eS5cd susceNibilily ol cOmpY s firwKi&l s&temwts mis$tste1. lorluding how frtJ igh¢ 0¢r. AudiL p¢rfom)ed by the avdil included.. - Obtaintng an utthT5tandingof Ixbw Ih05e chg18ed with 8ovetnan ¢SIdered aTrJ addrtssed th¢ w)ientlal for override of wniro15 orh¢r in8ppropriate influ¢¢ ov¢rtk rim181 reporti4g proces& - Chall¢n8inROSSUmPtiOD5 atyj jud$emMts mwjr by Ènanagtmcnt in its$lBt)ifironi attountln8 e51imgtc& . Id¢ntifyin8 8NI tesiing journal ¢DifiE$. ¥rytha focllson lri<S math with LSU11 urtingwnbindlions. - lthniifyin8 assessing tl design and rtF¢di¥cnei$ of ¢onuols managrmenl h& in pl¢ ILI prev¢nl and Ik11 fvawl. A fiJrtherdc5uipliorbof our T¢$rGiblIi1Ic$ foi thc a1[ of the fuJHncial ¢ments is k)c&ted on the Fina111 RerM)rtin8 Cothcil's wÈbsii¢ si www.frc.18.ukuditorsw¢5p)r6ibiliiie& This descrip¢ion fonns part of our Rep of lh2 InikFtndeM Auditor Use ofo•r rtport Thi5 reporl 15 mC 501ely 10 the churiiable compaDy5 m¢mbers'. as a y. in aecordantt with Chter 3 vl Part 10 of the Companie$ A¢1 2006. Our audi( work kn been undert&eTI yo we might $181¢ 10 Ihc thari18ble Cornpan5 rnembets thosc mattets we Tequired to sta lo them ID audiior¢ re rt atsj for no other pwse. To th¢ fu51esl ¢xleni nn$¢d by law, do aol ac£epi or assume r¢sp 10 other lh¢ dwitabl¢ o)mparty and thc ¢hgriiable Comp$ m as & tody. forow forthc opinion5 w¢ h&Yc fomiai. Jomthan Grnnl IS¢nior thtuio for 8tyJ on bthalfof Gran A1nI$ StUl0[Y Auditr)r 1st Floor H¢alihaid Hw5e Marlborough Hill Hwrow Middlesex HAI IUD Audiiorl Ler[ Davvth LLP l)alt'........ Pylo
G¢fjrgetown Uoiver5ity IUSAI UK InitiAIive5 Orggni5ailon Stlttmeotof F•p•ndal AEt5vitie forth¢ yeartThd¢d JO JuAt 2014 2024 Toi81 2023 Toial funds UM¢arirlcd fund Reslric*d Notes INCOME AND ENDOWMETr¥fs FROM 3,0[) IX)nsilo and le8llCi¢S 300.(XID 300.000 837,02S 837,025 780,045 Oth# IT•din8acliYilleS 1.137.025 ,137.025 1,080.045 Totsl EXPENDfTIJRE ON ChxritAblt irtivltles Education I J08.444 1.308.444 ,122.427 NET INCOMkVIEXPFAYDrruREI (42.382) RECONCILIATION OF FUNDS Total funds brou8hi fon4VTd 13.775.863 {3.775.8631 {3.733,4811 TOTAL FUNDS CARRIED FORWARD {3.947,282) {3.947,282) {3.77S.8611 Thc notes fonrb parl of th¢se finortial slaltTh¢nts
Georyn University IUSAI UK Initi4tivts Or8Dis%tiott IR¢gistered tsumbeT- 06635942) Balnc¢ Shtet 30 Jutte 2024 2024 Tot81 fund5 2023 Toi#l funds Unre5tri¢ied rw Rcstrickd nd N01¢5 FIXED Asstrs Tangible &s5¢ts 457.197 457,197 633,489 CURRENT ASSETS Debtors Ca¥h 41 bank and in haThl 63.392 263.564 63.382 263,564 17.942 126.017 326.946 326.946 143,9S9 CREDITORS Amoufi15 f116 within oTrvy 14,731,425) 14,7Jl.4251 NET CURRENT ASsETLIABlTyEs 14,404.4791 {4.404,4791 14.409.352) TOTAL ASSETS CURRENT I.IABILITI£S (3,947,282) (3.947.282) 13,775.8631 14ET Assrfw(LIABILII"IESI 13.947.282) 13.947.282) {3.775.863) FUNDS IlnKsiricied lu*ds 13.947J821 (3.775.863) TOTAL FUNDS {3,947,282) {3.775,8631 The5c financi&l statemcnts h8v¢ bccf5 prepard in awordancc with the provisions applicabl¢ ¢<p chariEabk mp8ni¢5 5ubi¢d 10 the $mllll cornpthies f8iT The financial sialcment5 wer¢ approv by I Board of Trustees ind authori8¥d for i5yie 011 . and ¢ SIgd on its bth&lf by: D B P Greert- Tru$i¢¢ The ntyies forfft of fjnanrial statcments P&R¢ 12
Gtory¢lown UDivetslty IUSAI UK Initlalives Oryirtis•tioD Not¢5 to he FLThartiil StAtemeAts- Contlthued fvrtbey¢ar tled 30Jun¢ 2024 AccouwfiNG POLICIES- eoDlthue RdA¢ed pavty ¢xemptio The rharsiable company h85 tskcn advantage of exetnpilon, undcf Ihc rms of Fina11 RqrtIng Statthrd 102 Th¢ Fitsancial Rewriing Si&ndard applicabl¢ in the UK Republic of Ireland.. N)[ to dwlose r¢latd party tr8nsauioA8 With whollyo¥vntd 5ubsidiari¢$ wilhin group. T•xatlo The Chgrily )5 a r¢gi5tered thority. •nd Is swh is lItIe lo ¢¢rtAiR lax exempfiOllS on IoMe and profits from invcsimertts, and surpluses orj any tradin8 J¢tiviiie5 carried ir fvrther0tK Dfthe ¢hariWs PriEry objcLiives, ifthtse profits And surp1se$ arc gpplicd solely f(K thafitabl¢ puwJ5es. F¥#d •ecutytiDg Unrtsificied fuTrJs b¢ ysed in ac¢ord8tKewiih choTiwble obj¢ciiv¢s ai th¢ diKT¢tion of Ihe T¢¢$. Ei¢slrit(ed rd5 can only bc vsed for particular TeArI¢d PUfpDses within Ihe objects of the charity. Restrictions ¥riKwh¢n spwifitd by the donor or whtn fwds we raised for pyrticular rcsirict¢d purpos Further explanaiioTho(the naiurE pUrrse of fvr¥J is inclt2dcd in the JKlt¢s to tTr finatil ststctnent Coin8 comrern fiThencial 5tatanenis hav¢ txen prered tsn a ky)1 ¢on¢em ba51$ as Ih¢ reI eakIng indicaieo sls williD8n¢5s th provide ttesSary fina11 s1)PP)rt 10 ¢ble thc ¢omp&ny lo meei its lobilities for a p¢riod of ai Icast IweJv¢ moNhs from th¢ date ofapprov81 of Ih¢5c finartl81 stat¢ments. Foreiin c•rrtn¢le¥ Assets and liabiliii¢$ in foreign ¢utrencie5 tr8nslated into dollars at thc ia¢es of tXdt rulin9 tr£ balance sheet d8t¢. TrSSello[L5 in fo1gn currencies art wanylhtrd into dollars HI th¢ Tale of cxch8n8t rlIng ¢he dat¢ oftrans&ction. ExchangE differettces arc l¥ken trth a¢u>uni in arriving the opuat5rig resulL it*S¢ Amounts payable under Omting leax5 are dwd to the St8frment of Finan¢wl Adivilie5 on a sirnighl linE buis over Ih¢ period of the le&8 P¢D51on ¢gs1$ ind olheT POSt-rttlr¢rn•nt benefit5 The Company opuate5 a d¢firKd eonly1Thion pcnsion s¢hem¢. ConÈTibuiions p&y8bl¢ to th¢ COmpY'S pension Jctrrtmeare that8¢d lo the ptoftt and1059 coUnt in the pEriod 10 whi¢hih¢y rtlak. DONATIONS AND LEGACILS 2024 2023 100,o(x) 300,(X)O Gifts P88e 14 ¢oniinLKd...
Georg•wn Uthlverslty IUSAI UK Initiati¥¢5 Orgin&satkin Notes to tht Wiunciai Statem¢uts- tfjntinwed r the yr tnded 30Juw 2024 iyrHER TRADING AcfiviTIES 2024 202J Tuition aDJ fres 837.025 780.045 CHARITABLE ACTIVlEs cosrs Direct Costy Tou15 2024 2023 2024 2023 FAlucalioTh 1,308,444 1,122.427 1,308.444 1,122.427 IYET cOmE1(ExPENDlTE} Nct irtom¢lleKpffldiiw¢l Ll sieltdaftLY cthar8inW(crediiin8)'. 2024 2023 D¢prYciaiion- owned 8wr5 Oiheroperaling It85¢S Audiiorl remunethion 176,292 261,929 57.945 176.293 237,911 55,167 TRUSTiLS' REMUNFAIATION AND BEP4EFITS There weT¢ rrf) lYUSttes' r¢thun¢rAiion or oih¢r b*KfiL8 for ycar ended 30 Jtr¢ 2024 rtOT for th¢ year ¢nded 30 JU 2023, Trnslets, expernfe Tkrc were no expenses paid for th¢ year ¢nded 30 June 2024 for Year( 30 2023. STAFF COSTS 2024 2023 254,140 19.128 21.499 Wagc5 and 5alories So¢i41 SC¢UTity costs 01herp¢i0n £osts 242,583 20.351 22.890 291.824 294.767 The ivwDge monihly nnb¢rol1OyetsdVrIng the ar was B5 follows.. 2024 2023 Adminiyiraiion Th¢ numbcr of employee5 whose¢rnployEe ttrtefiis lexclllding ¢mployci peOn cos15) ex¢c¢ded £60P(X) wa5.. 2024 2023 $110.000- $120.000 PWIS ¢oNinued..
Gooryetown Univ•7ity (USA) UK Initiatives Orgni8tioD Notes to the Fillancial StJttem¢Ats- tootln•¢d ftsr tl¢ yeaT ended 3D J•n¢ 2024 COMPARATIVES FOR THESTATEMENT OF FINANCIAL ACTIVITIES UnYes¢rirled nd Rc5tric*d fvDd Total fuThls INCOME AND EIYDOWMENTS FROM th)n&tians 8nd le8a¢ies 3(Kl.O(N) 300.000 780.045 780.045 Other wadinglivI11Cs Tot I,080,045 I,0.5 EXPENDITURE ON Charitable ictivltl¢J Edu(10 1.122,427 1.122.427 NET INCOMEIIKXPENDITUREI 142,382) (42 J82} RECONCILiAI"ION OF FUP4DS Total fund$ brought forward (3,733.4811 {3,733,481) TiyfAL FUP4DSCARRIED FORWARD lJ,775.8631 (3,775,863) TANGIBL& FIXED ASSETS ImpTovernents lo property Pl&nt tyi muchi Tothls COST Ai l July 2023 ?nd 30 June2024 DEYKECIATION At l July 2023 Charge for year 1.405,Z44 109,696 1.514.940 54,848 10,970 881.4SI 176.292 826.603 165.322 1.057.743 At 30 Jun¢2024 991.925 65,818 NET BOOKVALUE AI 30Jurte 2024 457,197 413J19 43,878 633.489 AI 30 Jun¢ 2023 578,641 54.848 Pa8¢ 16 toniinued...
Gtory¢tsJWTr Unlvetjlry IUSAI UK liitlitiYe5 0ry4n15ath)D for the yerthded JO Juu¢ 2024 io. DEFfoR&. AMOU14TS FALLING DUE WITHIN ONE YEAR 2024 2025 TrJe debtors (hh¢[d¢or5 PreYm<is 37.500 7,395 18.487 17.942 63,382 17,942 CREDITORS: AMOUNTS FALLING DUE wfTHIN ONE YEAR 2024 2023 Amounts owed ID8roup uNdertokin8S Oth¢rcrediioFS nols 3nd d¢fcrred incom¢ 4.648.416 5,640 77.369 4,466J28 21,691 65,292 4,731.425 4,553.311 Cor8¢11)wn Univ¢rsity have guarmieed 10 provid¢ tt n¢¢essary finanrial to tneble ¢10w Lknivetsiiy (USA) UK Iniliaiives Orgonisation to neei its liRb¢litiC5 aperiod of wi lea51 1 yw from th¢ daic of 8Fyroval of these financiil sw¢mem5 12. LEASINC AGREEMENrs linimurn lewp8ymenis under non-cancellabl¢ opryatin8 Leaxs fall dw as follow5: 2024 2023 220.566 55.141 210,770 263,463 WsihiD orK ye Bciwecn0ned five yeors 275,707 474.233 13. MOVEME IN VUNDS Nei At 30.6.24 At 1.723 in Unrestricttd funds C*nual fund 13,7153631 (171.4191 {J.9472821 13.947,282 TOTAL FUNDS 13,775,863) P¥8c 17 CQOILnued_.
G•or8¢town Univertlry IVSAI UK lllltlglives OrgANistÉoD Not to the Fith•n¢il Stst¢mtnts- rDntlDyed for the yur tnded 30 June 2024 MOVEMENT IN FUNDS- ntinUed Net movcmcni In fvnd5. irKlud¢d in the abl? are follows.. Incorning resour¢c5 Rc&ource5 expend¢d MoveTnenl in fvnds UDr¢strl¢ied fllffds C¢nerÈl [d .137,025 11.308.444) TOTALFUNDS 1.137.025 11,308.4441 CoMparatiYtJ for rnovtMJent iti Nel mov¢ttLeni in fwAs At 30.6.23 At 1.7.22 Uhn$trScled thDd5 GenerNI fits {3,733,4811 142J821 {3,T75.8631 TOTAL FUNDS 13.733.481) 142,3821 13.775.863) CompaTa¢ive D¢t mov¢Men¢ ITh fund& included ID the atoY¢ aFe Bs follows: ItKOmill8 cxrthd¢d in fiLThI$ UttrestTi¢ttd fv•di Gewdl fwKI 1.080.045 (1.122.427) 142.3821 TOTAL FUNDS 1,080.045 11,122.427) 42,3r21 The unratYiCted fvThJs ar¢ been used in a¢cord¢ withih¢ dwithble obje¢liV 81 the di5ueiionolth¢ tr¢¢ Th¢ chariiable piry3¢ is the •dvsncemeni of cducaiioThvia th¢ pmvision of academic cours¢ Buth fututs 8re currawly im d¢fLclI as currently eXndIne Tel4tln8 w the rtwiiNble objccts Oft compthy rrently Exceed5 Ihc funding rxeived. Th¥ fJnancig15th1¢mEnts h&ve prered on a Eoirg (ix1 basi$ as th¢ paren¢ und¢rtBking has i11¢aled lis willingn$ to provide the ttc¢s5ary fin8DGial support uoble the L¥>mnY to mtsl ils li81*11 for a pcriod of * Icast twzlve months frvrn the dale ofapproval of thes¢ finarKial statcmeffls. ge 18 continued...
CefjrEetowTh Vuiverslty {USAI UK lTritiottyes OrEaM15tion to tknt Fln•D¢iwI SIAtemtTrts- tontiNutd far theyear tnded 30 June 1024 EMPLOYEE BENEFIT OBLIGATIONS Amourt le81s¢d in Ihe SOFA for Defind P¢tssion wntrIblOn5 is $22,89012023- PI,4991 There re no balarKc5 duc for ihe yeu ¢nded 30 June 2024 DDr foTiIK ycar ¢ndcd 30 June 2023. RELATED PARTV DJSCLOSURES 15. The company has iak¢n advantage of1 exempiirn available under ihe ierns of parwaph 33.IA of FRS T02 fmm di5r105ure of11110n wilh other wlN)Ily owned growp undertgkings. FRC NIcAL ¥fANDARD- PROVISIONS AVAILABLE FOR SMALL ENTITILS In common with many oiher bu5ineyscs of our size nwure our audilDr5 to srtpar¢ and subrnit VelUrn5 to the lax ShOrities and wilh th¢ preparlOnOr1e financial slatwner4 16. 17. ULTIMATE cowfROLLJNC PARTY The direCts rwrd GeoT8down Univusity. J non-profi ItlLIlN of higlw ¢dlliOn organi0 as a tn5)Ck urpr>rntion urnl¢T feder81 cTrrfLY in ihe Uniied States of Am¢ric4 bB I uliimaie pfjreni umlertskingand ihe uliimatc controlling party. I& COMPANY UMITED BY GUARANTEE Thc ¢ompony w&$ in¢orpoMt¢d on 2 July 2008 asa ¢omp3Dy Limited by GuaTaiitce,ill¢orpDra*d in Englond arKI W8les. The re8iuered office is 1st Floor, H¢ahId Hou5¢. M2rlborouoh Hill. H8FWtsW. M¢ddles¢x, HAI IUD. P8ge 19