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' ResponSIbH￿aS Independent Exam￿￿8 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 prepar￿1 In ac(X)￿anCe with thè Accountlng and Reporung by Chant19s' Steternent of Re(>]mm8nded Practkx appIl￿ble 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 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 GenorallyA￿pted A￿n￿ng 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 ￿lI￿eS 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 ￿￿C*M 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 fir￿ndal posluon of the (*arity and enabla them to rL8ure trHt the finano?al statemerts ￿mPlY the Charities Act 2011. the appIl￿ble Charitses {Accounts and RepM)rts) Regulatirms, and th8 p￿￿s1onS 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 St0th1￿lM Schwl or Ec(￿OrnIG5 (Ihe tharitable Incorwrated organisation), tharlty nwnL*r 1175409, 1x)mpany number CE011886 for thè y88r ended 31 Dwnlx 2023. Rasp￿sIbIl1uog and Bafjls of Report As the chartty tru8te8s of the Trust Y￿ are reS￿nsIble for preparatlon of the accounts n accordanc8 with the requlremènts of tha Charttles Act 2011 (Yhe ACY). I report in rBspe(* of my ex￿nIn8￿n 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 re￿Irth; 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 hKlepa￿nt 8xanlnath)n. I confimi that there are no other matters to y¢)ur allentMTh 8hould be drawn trj enable a proper understandlng of th8 ￿C￿rts 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 (R*tered Charlty Nurnber: 1175409) BALANCE SHEET AT31- DECEMBER 20YJ 2023 2022 CURRENT ASs￿s R￿dIvabl8$ Cash at bank 11850 28883 40.733 5250 92,416 CURRENT LIABILMES Payables NEf A8SErs Repra￿ed ty. INCOME ACCOUNT 90821 TOTAL FUNDS 90821 Th8 financid statements have b88n byepared In acxordarTrc8 ￿1th Ac￿Un￿ng and Rewlng by Chartues: Statement of R8￿mMend￿j 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. B1￿￿tra Abago GoUgh-C￿p0r 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$￿ of golry concérn The finandal Stat￿n￿￿ have been prepared In accordance wlth Accountlng and ReportirYJ by Charitie8: Ststement of Re(a)m￿Nded Practlc8 applicable to charili89 preparfng thetr accounts In accordance the Flnandal R8POrtlng StsrK1a￿ aP￿Icable In Iha UK and Republ￿ of Ireland (SORP) {FRS 102), the Charld68 Act 2011 and applicable regukn. The Chwitabla Inc#Jrporated Organisation (aL80 referred to as CIO) mlitut88 a pUl￿1C beneffit enlity as defined by SORP FRS 102. The financial BtstsM￿ts are dra*n up on the golng (x)ncem basls whith 88sum8s UK Frlends of The Stoc*holm SCIKKI of Emnomics ￿711 cx>ntlnu8 In operallonal exk8tence for th8 frneeable fiJthr8. The Tru8tee8 0￿sid￿ the (wThent and fO￿st cash resour￿$ 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 measur￿1 r81iabty. Donati(Th are reown[s￿l on a rnc8l¥•J ba*. In￿me tax r8(X)vw￿la on gfft aid payments18 re(wnt8ed on an a(X¥U￿ basls. b) Rasourc•8 axponlknd Expendiknre has beén 8nalysed beiween: Donalion8- al e%perKfj￿r8 rfir• relaknl to th8 Obj￿ dthe CIO which . charged In Ihe perkxl. Gov8manco o7sts- all exp￿I￿re 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 ￿x￿danc8 Iwth th8 dwrltable objeds. The f￿d 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 Insi￿1r￿Xnt 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 ro1mbu￿ed to the Inth thrfng Ihe year12(Y22: £nll). 3) DONATIONS 2023 2022 Volun Glft Akl d￿tionS 5,250 47.478 61393 Al dI￿allor￿ durfng th8 ojrrent and wevK)us wiod were unrestiicted. 4) CHARrrABLE DONATIONS 2022 The StOckh￿rn SfJy)ol Of ECorK￿￿c5 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 ACcrn￿l Incom8- HMRC Glft Ald 7) CASH AND CASII EQUIVALEKTS 2022 Current aL>￿nt 8) PAYABLE8: AMI￿nts falllnq due wlttth •)n• y 2023 2022 Acwed 8 9) FUND BALANCE The CIIYS fund 15 u￿estr￿￿. 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