UK FRIENDS OF THE STOCKHOLM SCHOOL OF ECONOMICS STATEMENT OF FINANCIAL ACTNITIES AND BALANCE SHEET FOR THE YEAR ENDED 31 DECEMBER 2023 Truste Gudrun Blrgftta Maria Albage £>)ug)p0r Lars Goran Stranward Anetle Elfvrng Fenn Andreas Sth(YlirwJ Reg18ter Clwlty Nunknr 1175109 Cornpany Numbv CE¢>11886 Shaw Glbbg Llmltod AGcountants Salatin Houso 19 Cedar Road Sutton, Surrey, SM2 5DA
UK FRIEND8 OF THE STOCKHOLM SCHOOL OF ECONOIqCS Contsnts Page T. Report TNstees' ResponSIbHaS Independent Exam8 Repc*t Statement of Fknanclal AdlvM BalarKE Sheet Notes to the Accounts 9-11
UK FRIENDS OF THE STOCKHOUI SCHOOL OF ECONOMICS REP0F OF THE TRUSTEES Th8 Tntst865 h8v6 pleasure In Fxesentry thetr retxxt and the fflnanclal statements of the Charltabl8 Incorporatsd Organtsallon (also r8ferr•J to as CIO) for the year eThJed 31Dt D8cwnb8r 2023 which have been prepar1 In ac(X)anCe with thè Accountlng and Reporung by Chant19s' Steternent of Re(>]mm8nded Practkx appIlble to charttl8s pr6parfry thelr accounts in acurdan wilh tha Fin8n(x8] Reporting Standard applieAbla In the UK and Republk of IrelarKI {FRS 102). the thrrttes Ad 2011 and the CIO'5 Constittrtkn. Structur01 g0Vwn¢8 and management The Charilable Incorporated Orgaimsation is govemed by the Consututbn dated 27 October 2017 and ts a r8918t8red charfty <tharity r8glstrakn numb8r 1175409). The names of th6 persons vtho Trustees at any time duriro the year ended 31 December 2023 arKI up to the date of $Ing the86 statements wara as follows: Gudrun Brgitta Abage Gough C(xw Lars StrannwJard Sven Hakan Gomér Anette Efvlryj Femi Andreas Schorflng The statutory power of appointiru new and a(klitional Trustees is 8X8Tcisable by th8 Trusts8S. The Trustse8 m66t regularfy to revlew and dis5$ matters rolating to th& Charltable Incporated Organlsatth. Prfnclpal addr088 The prlndpal addr8ss of th8 chaable InCorpC10d (Wsatlon L8: Salalin House 19 Cedar Road Surrey SM2 5DA Prof•s•lonal *dvlJ•r% Bankero HSBC UK Bank pl 54 Clarence Street Klngston Upon Thame8 Surrey Kr11NS kndependgnt Examl Ransford AgyePBoam Shaw Glbbs Limited SaIn House 19 Codar Road Sution. SM2 5DA
UK FRIENDS OF THE STOCKHOLM SCHOOL OF ECONOMICS REpoi¥f OF THE TRUSTEES Prlnclpal actlvltles and publlc bonefft Thè Charilable IrMXJ0rdted OrgaThsatkn (CIO) is a registeNI charfty. Th8 purtN)So of the Charitable Incorporated IganISa1k)n Is for the beneffl of the general publ1¢ to promot8 8dLK8tion by 8UPPOrttng the athAti8s d Tha Stockhrn Sthool of Economic8. Achl•v•rn•nts and porformanco of th• Clmrlttho ln¢wp0r Organlsatlon UK Friend8 of The Stockhdm School of EL¥JN)mics (UKFSSE) wil make regular donatlons to (ryanlsatlons, In lin8 vjlth the Charltable IrKcKporated Organi8ation's obJerAs, on an annual basis and in aox)rdance with SplfiC ryiteria as dgffj by Ilw Truste8s. In addrtion. th6 wm 18 to facilitate a prrmjudve knoledge exchange between d9mla Iwlmartly tPAt at Tho Stockholm School of Ec£rnmlL3) and buslness graduates resldent in London. to provlde networt(Ing op)nItieS thmugh rjwal evwts and also to prowde donors vAth detsils of how thelr donalons would advance the (arltaile ()JecUves of UKFSSE in ppOrtIng SSE'S drlve a more irKluve 9Cli0n. In Ilne with th18 ambltlon, Ihe UKFSSE a well atterKled panal thscvssk)n cm vontsjre capital. led by the Managiro Dlre(aor of th8 SSE Buslness Lab. and wtlh panelllsts from ross the ind[ty. The Charity also organised a sucxessful crayfish paty In September and Homecoming dinner In Dec8mbw. tho Homeoyning dinn8r, the President of SSE gave a muth appredatsd wesentall¢m the latest develoFffWlts and far rEachlng aixdemlc nblttons of the SSE. The event was atterthd by a great mix of arnnI; Swedish as well a8 Internaonal. Ynger as aj more 8XP8r18nc8d k¥ofs1(¥78. In additi to the actmtses Ihat were fxg8nized and delivered thrut th8 year, the UKFSSE also recefftl s8veral dwltth (XrrtS from SSE alnn1. Fulure plans The Trustees {Sider that the for factors underph the StcMholm School of Economic8. ambilth 8nd expansion, i.e. to woMd9 morn room for the 1wman[e5 and their strengthengd rol8 In an IncreasIlY machln&drlven M)rld. also giv8 rlse to a greater ne8d for mldareer Fyofessionals and 8ntrepreneurs to acuvely manage their ongokng leamlw. G)Ing forward the Trttste88 therefore InteThJ to IntInue their support for exlsung b8neficlarles and othe[8 in 8¢¢ord8nce wilh the cl)J8cths th8 Charity. Speoficalky. the Trustees plan to <Kganl88 8vents that seek to Ser6 a contlnued knthYledg8 exthang8 b8trween the resourras and perspectNes origina1irKJ in the a&gdemic environment and those of graduat8s actlvo in finance. educalkn. tethnd¢Jgy. corrKJrnte servlces. rt8weneurshlp and rfj1a flelds. Flnan¢lal r•vl•w and r88arv The Charrtthe InrpORted Organlsallon's nn source of In(x)me were voluntary donallons which amurrted to £52,395 (2022: 42,228), excludi gnl akj daim. Total of the CIO'S at 31 Dec8fflber 2023 arnnIed to £39.( {2022: ).821). Rlsk management It Is confimied that the rnr rjsks to whk th8 CIO15 axwJsI. as Identlfled by the Trustees. have been reviewed and sfftm8 hm been aablisl*d to mibgate those ri8k8. Indopondonl Exomlrnr Folllxving the acquisitlon of Harnr Slater Umltgd Slw Glbbs Lkntt8d In NoVber 2023, Harmer SLqtsr Umlted re51gned as tha IrK18p8ndent EyAmknw and Shaw Glbbs Umited were appointad to as the Independent Examiner.
UK FRENDS OF THE STOCKHOLM SCHOOL OF ECONOMICS STATEMEKf OF TRUSTEES. RESPONSIBIUTIES The Trustees are resp8>18 for F¥eparing the Trustee8' Annual Report and the finandal statements In accordanc8 wlth appll(abl8 law arKI Untted iangd(n knountlng standards (Unlt6d Klngdom GenorallyApted Anng Praclice). The law appluble to charities In ErvJland and Vkdles requlres the Trustses to prepare financial slatements fcr eath financi81 year which give a true and fair view of the 8tste of affairs of the CIO and of the Incorring resour(xs and appllcatkn of resounxa of the CIO for that perlod. In Exeparlng th88e flnandal statern, Iha trustées ar8 requtred t¢x" select 8Uitd)le acoxmtlng lIeS arKI then appty them (SL518nty. obs8rv8 lh6 meth¢xls and FYinLikles In tho Charities SORP; mak8 ludgrthts and estiffotes that r8ason)le and prudent: 8talo whether appllcable accounti standards hav8 been folk)wed. 8Ut4ect to any matgrt81 departur98 di8d08ed and explaln&l In the finandal statements: and prepare the financlal statements on the going CM basis unless it18 Inappropriate to Pfesume that Ihe tharity WI r¥Mti)ue in busin8SS. The tru8ta88 are re8ponsiNe for keeph¥J PTOPW xountlng rw>xds that dlsdose wlth raa80n8bie acwracy at any timè the firndal posluon of the (*arity and enabla them to rL8ure trHt the finano?al statemerts mPlY the Charities Act 2011. the appIlble Charitses {Accounts and RepM)rts) Regulatirms, and th8 ps1onS of tho CIO'S Consltutlon. They are al80 re8p(¥e for safeguardlng Ihe assets of the chartty and hence for takirKJ roasonable steps for the prevenlion arKI datsdlon of fraud and other Irregularities. Approvod by the Trustees and slgned on their behalfr. Anette Ewwng Femi Tnjstee 26 September, 2024
INDEPENDEKf EXAMINEFYS REPOltr TO THE TRUSTEES OF UK FRENDS OF THE sfocKHOLM SCHOOL OF ECONOMICS I rep(xi to the tharity trustees on my èxanlnatlon of th8 accounts, sel out on pagos 8 to 12. of the UK FrferKls Of The St0th1lM Schwl or Ec(OrnIG5 (Ihe tharitable Incorwrated organisation), tharlty nwnLr 1175409, 1x)mpany number CE011886 for thè y88r ended 31 Dwnlx 2023. RaspsIbIl1uog and Bafjls of Report As the chartty tru8te8s of the Trust Y are reSnsIble for preparatlon of the accounts n accordanc8 with the requlremènts of tha Charttles Act 2011 (Yhe ACY). I report in rBspe( of my exnIn8n of the Trusys a(xxxvits ¢arrBd tyjt under 8ectv)n 145 of th8 Ad aThl In carrylng out my exqmination I have folluwed all appllcable Dlreixions gtven by the Charfty comm1s81 under Secti 145(5Xb) of th8 A Indepondont Examlnees Statemont I hav8 complbt8d my examinafion. I confimi that r#) materfal matterts have come to my attention in connection wilh the examination gtving ma c8USa to bdiÉvè Ihat In any mat8rf81 respe(: 1) accountlng retx)rds were rKrt kept In rnSp& of the Trust as requlred by seGlion 130 of the Ad., or 2) the a)Unts do not a(xx)rd with thosa reIrth; 3) the alxounts O) not com&y with the appli(¥ble rnquirements concemlng the fomi and ci)rrt8nt of accounts sel (xjt In the Charftles (A(xounts and Reports) Regulatlons 2LY)8 other than any rewlrem8nt that tho ¢nts glv6 a twe and fatr vlow whlch 18 not matter ¢sIder• as part of an hKlepant 8xanlnath)n. I confimi that there are no other matters to y¢)ur allentMTh 8hould be drawn trj enable a proper understandlng of th8 Crts kn b8 r83¢*d. R Agyel-Boamah FCCAACA Shaw Gibbs Limited Salatin H(. 19 Cedar Road Sutton. SM2 5DA Dale: 28 Septsmber 2024
UK FRIENDS OF THE STOCKHOLM SCHOOL OF ECONOMICS STATEMEKf OF FINANCIAL ACTivmES FOR THE YEAR ENDED 31- DECEMBER 2023 2023 2022 Incomlng rewur Donations Event Incomo 61,393 47A78 Event expenses charitab ckJnatkJn8 Governan( Costs 6,405 107,416 8,802 47.244 115971 Not Ineomlngl (outgolng) r8sourc {51726) (5492) Balan brought forward 96313 Balane• carrfod forward 90821
UK FRIENDS OF THE STOCKHOLM SCHOOL OF ECONOMICS (Rtered Charlty Nurnber: 1175409) BALANCE SHEET AT31- DECEMBER 20YJ 2023 2022 CURRENT ASss RdIvabl8$ Cash at bank 11850 28883 40.733 5250 92,416 CURRENT LIABILMES Payables NEf A8SErs Repraed ty. INCOME ACCOUNT 90821 TOTAL FUNDS 90821 Th8 financid statements have b88n byepared In acxordarTrc8 1th AcUnng and Rewlng by Chartues: Statement of R8mMendj Pradlce appllcable to tharlties preparlng tha]r accounts In 8ccordarts with tha Flnandal Rep(ting Standard aprAlcable In the UK and Republic of IrelarKI {FRS 102). Approvgd by the Tru8t888 on 26 2024 8fKI *ned on thelr b&ha by. Gh-60_ty. B1tra Abago GoUgh-Cp0r 0tt8 Elfvlng Femi
UK FRIENDS OF THE STOCKHOLM SCHOOL OF ECONOMICS NOTES TO THE ACCOUNTS FOR THE PERIOD ENDED 31W DECEMBER 2023 1) ACCOUNTING POUCIES asls of preparallon and a88•0$ of golry concérn The finandal Statn have been prepared In accordance wlth Accountlng and ReportirYJ by Charitie8: Ststement of Re(a)mNded Practlc8 applicable to charili89 preparfng thetr accounts In accordance the Flnandal R8POrtlng StsrK1a aPIcable In Iha UK and Republ of Ireland (SORP) {FRS 102), the Charld68 Act 2011 and applicable regukn. The Chwitabla Inc#Jrporated Organisation (aL80 referred to as CIO) mlitut88 a pUl1C beneffit enlity as defined by SORP FRS 102. The financial BtstsMts are dran up on the golng (x)ncem basls whith 88sum8s UK Frlends of The Stocholm SCIKKI of Emnomics 711 cx>ntlnu8 In operallonal exk8tence for th8 frneeable fiJthr8. The Tru8tee8 0sid the (wThent and fOst cash resour$ to b8 suftklent to ¢1h@ Work1 requrernents of the CIO for 8t least12 m¢ts. Thg acTrwntlThJ wllcie8 adopted ty the Tnjstees aro rxrttkned beknv.. a) kncom• recognlllon All Income Is recx)gni8ed the tharity has enttU8ment to the In¢oma. li is FKobablg thai the incm wtll be received. and tha amount of in¢))me can be measur1 r81iabty. Donati(Th are reown[sl on a rnc8l¥•J ba. Inme tax r8(X)vwla on gfft aid payments18 re(wnt8ed on an a(X¥U basls. b) Rasourc•8 axponlknd Expendiknre has beén 8nalysed beiween: Donalion8- al e%perKfjr8 rfir• relaknl to th8 Obj dthe CIO which . charged In Ihe perkxl. Gov8manco o7sts- all expIre for the runn1 of the CIO 5tself as an organisatlon. c) Fund accounung Tho CIO'S fijnd Is Ke81. Trustees 818 fr88 to use It kn xdanc8 Iwth th8 dwrltable objeds. The fd kn repre8ented by cash at b8nk d) Cash and cash oqulvalorts Cash 8tYJ cash equivalents of rren1 bank accx)unl balanca and 8r6 subl8rt to Insi1rXnt rlsk of (angg in valug.
UK FRIENDS OF THE sfocKHOUA SCHOOL OF ECONOMICS NOTES TO THE ACCOUfvtrs FOR THE YEAR ENDED 31" DECEMBER 2(Y13 (CONTINUED) 2) RELATED PAhYfY IRANSACTION8 AND TRU8TEE8' REMUNERATION The Trustses were r¥rt P8id or received any dher b9nefft8 empl¢)ym8nt with th8 CIO durfng the year (2022: 1). Expenses totslllng £nll ware ro1mbued to the Inth thrfng Ihe year12(Y22: £nll). 3) DONATIONS 2023 2022 Volun Glft Akl dtionS 5,250 47.478 61393 Al dIallor durfng th8 ojrrent and wevK)us wiod were unrestiicted. 4) CHARrrABLE DONATIONS 2022 The StOckhrn SfJy)ol Of ECorKc5 107,416 47 5) GOVERNANCE COSTS 2023 2022 575 Inde rHlent examlnerfs fee rofession81 seThices enses on81Sund 870 180 89 Subsc In8uran Bank cha 335 200 2253 212 2,150 io
UK FRIENDS OF THE STOCKHOIJI SCHOOL OF ECONOMIC8 NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 3151 DECEMBER 2023 (COPfflNUED) 6) RECEIVABLES 2023 2022 ACcrnl Incom8- HMRC Glft Ald 7) CASH AND CASII EQUIVALEKTS 2022 Current aL>nt 8) PAYABLE8: AMInts falllnq due wlttth •)n• y 2023 2022 Acwed 8 9) FUND BALANCE The CIIYS fund 15 uestr. and the TNstees arn fr88 to U8e It In aCCA)rdan wlth th8 tharftablo owects. The fijnd Is repreBentsd rn8lnly by h. Anatysls of movement In fund forth8 cuThgnt and yearn arp pres bgtow. 2023 2022 Fund balance broughtforward Incoming r8scwc Resourc8s expended Fund balance carrkl for4Yard .821 64,245 (115,971) 39,095 96,313 52.807 (58,299) 90,821 li