2021-12-31-accounts

Gymptsny REgLftrn¢1￿ 04448389 4rityR¢&sQrthAN4nthr 01179136 THE AGA KKAN UNIVEIL51TY (INTERNATIONAL) FOR TK6 YL4REKDKD 31 DECEMBER2021 *A875LIMY• 2W0612022 COMPANIES HOUSE A14 26

, TIIE Aca ]fflN tjr4lVERS￿y (]￿ERNATIoNAL51N THE.TJNUED'KtNGDOM .cA'ci)hiPANY"LtMTfEi)'BY.GU￿) ". . CIiMPAp4¥.1P￿0IlMA￿Om . . 4o•rdyof.Ppre¢tpri' . .ReSi￿)ed.thll.Ja￿Ulry2O￿ . ".i1¢5igu_edoo 1.4'Jiwe 2021 i>r. Lisa kniuson ' . ""Pr(pf Aziw Naojt ." . Ptof Ev8ellè. Ro8at>.".: i)r..-Da￿d TayloF .'Pri)f Jane MtAuliffè~ -Appoint¢d on I97￿*y2021. ' App)iJttEd on 19 May.2021 -.ApN)]illed olla9 Nlay 20gL ,,A￿p0￿ on 19 May2021 ..tippoillted oll 02 ju￿e?021 lie51￿Ca.0￿L22 June 2021 'SatEnaFAisa] Ali .Resi£llea"op"14%June 202k -Appointcd 0￿14 Junq2021 Charity N•mbtr" 1179136 IO ￿￿￿￿51th Strett. i(¥HaDdy%ideStreet . . Lori&oEIW.IVW ._ .. ..

Rwrtèfth¢B(wdof Dited io 11-19

Legal Ststlls and Prfu¢lp￿ Ath TheAga Khan Uti1v￿￿ty (IDternathonat) th¢ UnitrA Kingdom fthc Un¥ver5ity)w&8 tiworned ty127 Moy 2(W2 th ￿mPl￿#S A¢t 1985 (EW albj Wal¢s) as a ¢ompw IEtnrted by 8ua¥aatee. The I0￿1t0£ thc. BUOr￿te¢S ffjKdmts.to £2 is iry mwHb¥s' the ba]ance 8lxet (xe oote li to thE fiDwAIY The University ts an a¢thni¢ unit of Th¢ AEaKbwA uniV￿$lty (AKU), whith 18 a stsnttthy'kndy whjrnte io Paki5tanbyiTrTthe of tL8 Chartu ryted irL 1983 as Pakistsn's firsttNth MtCrn￿IODalVn]yaSlty. ThtUtiivo5iry. bs 8]$0 regiM¢r¢d.withth¢ Cbarity Com￿ls54<yt for E4J4nd and Waks ¢ffediv¢ 10 Juty 2011. The objective of the Uttiversity is hi8her eknior6throtsgb the POViSiCfs of iDstrpction. traiwng a￿d fraching iti Utiiv¢rsity (U.SA) FoundatioTh to aEat¢ awaru55 of and sojicit fijnds the US for AKU'S global a¢tivities ofDclaw8t¢ ￿24 DeLernber2014. CON￿19 Pndemic Th¢ COVID 19 p8ndmi¢ d¢v¢lop•l rdpidty from 2020. Measu￿& by goywJoKtit fo ¢OUtain the vit iry¢ltsding lo¢kdoW￿8￿d social dtsltncillghavc afftLYal day to dayacttviry. AcJemic progTXtnthÈs¢heduJ¢4iveff¢ affected wrth physicat¢lass¢s be¥Dg suspended to compty with gorytrnaD•t￿q￿￿¢llts ouliti¢ t¢a¢bin8 W& ltttroduc¢(L itk w to the paodeull'¢, in addttioo to eknriEig aod $8fety meLsLtr¢s for tbe we]fare of $raff Jud $ttthts. the UniversRty si￿16¢8￿1]Y extend￿ its offeriDg of ordin¢ sb)rt cJJrx5. delivered it4 SUDm)¢r UtiiY¢T3ity 1nltmt￿Tese8Tth oo Covid 19 from a KKial sci¢n¢e 8JdJJumanities perJpectiv< cwducted throu8b its R¥lts for the Year LhJriD8 the ywi th¢ Univetsity rec￿Yed £3,049.897 (￿. £1 As9￿1) fr￿ll Th¢ Aga Kbott Univwjity as aigonation-in4indba%iti8 a vaiuety thelhivetsity Ot£i,652,547 (W20.. £1,630.779). £135,7831 Atthg ye&rewlthe U4iveTrity hadA 8styof £1.357.404 (￿. £IJI6A39).

1. PMfArimN0ii-A￿th1 ffj 19My2Q21
2. tk.ri•vblTyky-AT¢￿"jth A•dll trp¢rso

In attotdance with the Anicles of A$50¢iaw tht B(rdof Dxtt¢tyTs of the Aga%1￿ Universty (tothation8D iti th¢ Unit¢dXingdom Cts UniveE5iryV is reWD￿ljIe for the athDiD￿ and rna￿￿￿￿t oftkn 4ffair&or wbich tiv¢ a"tru¢ aDd kn view of the styt¢ of Affair5 of th¢ Univosty of the re￿tr otthe UDivetsity fw. that 8ccura¢y at 8fLytime th¢ fillgnci41 p)sitioDof th¢Univusiry •ndtOEoabk itto the fiDwio18wem¢Ars 8uitsbl¢ polirK5 aT& Sel￿ted and appli•4 ¢￿￿1¢￿ty, applicable awuotÈrkg swida￿S bave t¢eD follow¢41 wbj*t to •Qy di￿0￿J aud sponsibilrties sd outab)ve. iucludethe followi of fw#ast0utrllr￿. and

IrwEPEThDENf AiJDITORS'IIEPORT (A COMPANY IJMTtSD.'BY GUkRArfrE3> Opinio . Wt have ludited thc finaryciai $latwntsDf Th¢ Aga Khan Univu5ityuDt￿ti￿12i} in the Unita Kin8th4a (th¢ 'Un¥ver5ity') for the ye?r" 31 DecwDber2021 Twhith the StsJnent o.f Comweh¢nsive Inm¢ 8n.d Exp6ndifute, StatanC￿t of ch￿eS Reser￿5, BalaKc" SheEL theststcmthtof Ca8lL Fl¢)ws a[￿the[elatÈdll . framtwotk that bss beett applid iti their prepatatAon ts app5iiIe lw. United kngdom G¢rn]ty Ae¢¢pttd . bwuiitsos Prartiee (FBS102:'Th¢FxoaDC."io1 R¢portiD8 Swdard a[pl￿&>le iTh the tIK Htid Republiè Of.￿.la￿0j In our.OPthiLYA itrie fIt￿l¢la1 sta¢awn￿. Irigh¢rEducakni" (2019). (FRS1021; and xsis lot opinlo law..Ourr¢sponsibiligies utth those sknudards ar¢ fi¢tb¢r desuibed in th¢'Audrtorfs resPjDs￿Il1tieS forth¢ audit . of th¢ fiwlciai siateDJ¢ttts"' sectiop of our Tepirt We r¢ indwentht ofthe Ufjiv¢rsity in ￿cOrdanC¢ with thg. hicHi requir¢ti)entsthatare re1eanttiiow￿diI ofthe fioancialst8tsmettsirt the UKinch)dingthe FRC'sEthi C(Mi¢lu$ibns relAtiiigtl& going toticern Inaudititigthe financial staternty w¢ have conththdthatthRoardofD1￿. us¢ ofthe &OitiBf4XCm lldilions thai illdividtsalty ¢oll￿tiVe]Y. gi￿1￿¢4llt douFA on the cbwitable wwy's ¥knlity to . Othev itsformatlo ?tL our ryr¢ we do.tto¢ttpress ¥form ofa8SLrancec4Jnckn%ioLthereoL

IN THE UN￿EDICINGDOm (A COMPAF4Y LlhfrrED BY GUAK4KfEE) ryorttha¢ facL We haYenothiDgtorep)rtinthis Opitilow ott other mattrtspr¢8mTrd by tb¢ CompglliES Art 2fy)6 Matttn on wt Are reqnired t¢) ttport byeiteptlon Respollsibilities of directors resF¥Awble forth¢pftparntion ofthe foancial 5tatanffjts and ts i%iD85atiSfiedthatthtyg2v¢atr￿Illd foir vi¢w, concrydisclosiD& zs applicabk.Ma¢*ts￿￿Cdt0going conceErtaDduswthe gOi￿g¢{￿reMbl$l9ofac¢￿0rtttO8 UDless the Bo￿a of ethr ititeDd to liquidate the Unlyetsity or to ceoe operatt0￿ or have no Ju]istic R¢45Qllablcassurdn￿ i8 ahi8h level ofa&v8oce, but i8 UOtagyawit¢¢ thatau atdttconductedinaccordatEcewith

JIYIIffjPENDEPry AIJDNORS. REPOKT (A COMPANY LIhirrED BY CUAWTEE) "ed(4n undthststh¥ rfthe UhiVtTsity"aknd the iDrknty"iti wticbitorrate."s. wèikntitsl'thattheptiic¢4t. . risks of ￿On-¢or￿p1ian¢e with laws and.re8ulattoDsTrl&ed ty the by th¢ Uni¥¢tsity, wexe c(thry to 8ppli¢able law$and￿kOnSi0ClUdingfrlll￿ attdwecwLderedlb¢extenttowhi&ooty-￿1￿cOrn18btbae (l￿¢1￿dIng the risk of ovande of COAtroLs), aDdd¢tUmI￿ tharthwuwipal iisksiw¢Tr r¢ltsi.tQ Int￿lj ineomv. andthe UniYetsity'5netillcthne tsthe-year. .Auait prorkn5 PErfotwed iudude<l: Teview oe tk thjancwl statèTrM￿ d￿ClOSu[e5 to Underly￿)g $wit￿t￿8 . atta8aW)t.ov¢ffide of¢olltsds. uKlud.iDgtestÉa8 ofiAnn8]s and¢v8tllAkng wheth¢rthp4e vas ¢wideDc¢of bids, . with l&ws.8lld reguknioD5 is from the evth.ts and t￿n$￿10ns I￿￿ted itt the fjnaDcial stateJb¢n15. Ib¢ 1¢ss JWY A a￿lptiOn of o)tr"reip)nsxbxlitsts for tbe audit of the fjDanuai slateD￿ts is J(*ate4 oll th¢ Fioattu" .iWtiJ8 Council's web5ir£ •: auditols rwt Use off our repor¢ Thi5 ¥ew is made solelyt41 the UDivv5ty'$ mallben.as aPKrtty, iTraccrydgtt¢t W41h (Wer 3 Of P•t' 16.of th¥. Cornparlles Art2￿. Our audi¢"vmrkha5beenuDdertakcD50thatwemigbtstate totheUniYersity'3membusthw- pennitted"by.JJw,w¢ do.nota¢cworas¥om¢4¥srwibllity￿￿y0n¢ LtstbaD"th¢UlliMityttDdth@UDiy¢rsity' memb¢rs &$ #body.. fvrour woth..for thi5IEPrt orfoT-the opiniow w¢ bavE fonDed. (IHY M¢c& 7 ColiD Wri8ht(S¢nior Ststutory Auditw} For andon beh8lf ofuHY Hxtkeryo Londth. Elw IYW

(A COMPANY LIM￿ED￿¥ GUARAf4T£E> sTATEl￿ENT OF CQMPRZHENSJVE INCOME AND EXPENDfTURE Fox THE YEAREf4DED 31 DECEMBER 2021 Totsl 2020 2•21 COME 116,673 484J42 76 155,4%" 777.456 618 f￿1291 933.570 4,8S4.621 g.326.523 Totsi iD¢om¢ S,485912 4260.093 Staff costs 1446.071 1938.451 59,122 I J03 1.723J51 1807.821 67.599 1932 Tot*1 ￿pe•dI￿r4 5.444.947 .4.600.7Q6 Swpjws Kdefjcit)lkn 40.965 (340.613) TwtioTA Surplwl(ilefJ¢i¢) for the y 40.965 (340,613) Reeonelliatkin of futsds: lJ16,439 1.657.051 IJ57,404 1.316,439

(A COTriPANY IIMfTED BYCUAIL4P4T￿) . STATEMENT oFcHANG￿ ￿ RFSERFES FOR YEAR ENDED 31DECEMBER2021 Total.. Ftsfrds brou.ilit torvATa 931,073 385J66 1.316,439 1,'6S7.052. 484i42 5.485,912 42(A¥.OY3 (4J32 771) t512J76) (5.44494.D 14.rf(s.7QKS Surpl"u￿(dÈfjCIlj for'y#r QT.634) 4Q36S 357.732 IJ57.40A l J16.4Yi

BALANCE SHEET ASAT DECEMB£R2021 Nonrycurr¢u¢8sxts 58.164 ￿5￿6? 5&Jffj5 271.497 12SO.163 520.155 6.138. IJ21.660 iJ56S91 i￿.421} (135.620) 1299239 122137] NttAss¢ts I)￿.404 lJlQ439 ¥M•ds 357.732 999.672 315J66 931.073 Total I 357.404 131Q439 sign¢d.aDd auththijed for issu¢ on its bthwby: cb Compaoy Re on No. 04448389 (F￿￿￿] W•l¢s)

(A COMPANY LIMrrED BY GUARANTES) STATEMEprf OF CASB FLOWS AS AT JI DECEMBER Z021 21Y2A 2020 s￿rp￿S￿dtfiCit) lorthey 40965 (340fi15) DeFleci￿10￿ D¢￿taStI{sn￿e￿) ill debt(rfS 1ncT¢&5eJ(dec￿￿) ID creditots 59.122 249.355 67599 (125.992) (50.458) 6) IJ03 (6J8) 1932 Net C45& Intlowl(¢Mdio￿ trom operttn8 s¢tsvit 437,471 (448.150) Casb tlows from thvestlng divittes" IDvestm¢oiiticoJne 76 2￿9) 0216 121143) (19,59 Cxsh tkns froph activit￿. Interest aDd other fmance Gost (1.303) (1.93• IDertasèl (decrew) ill attd tash ¢quiv•k*ts the year 414.025 (469.680} 836.131 iJ05.818 Cash ¢quivaltnts at eod of the year 1250.163 836.138 io

(A COMPANY LihJifED BY CUAkArirEE) POR THE YEAR ENDED31 DECEMBER 2021 AcrJJuD¢l•g powes inc(tporat¢d in EnglaDJ aDd Waks. Th¢ offitt * A8a KhaD C 10 H8nd￿lde Str NIC 4DN. ) Baw ofprepmratlots and golDg ¢0￿rn Stsodard AA)lithie itL the UK and R¢wblic of Ireland (FRS lff2)). the Sfatem¢nrofRecommended Prndice (SOKP 20l9X"Accowititi8ftyFurthtraT￿}￿￿rEduC￿tj0￿.a￿d￿¢C(rnpaiJl¢5 Act2QO6. UDiv¢rsity F￿n{￿lop, ('the Foundatith.). Thc Directrn be]ieve th the Foundation will ccthue to SUFPOrt the Univ¢rsity as they have done $0 ID the p On this batis. the Directots b) Group a¢¢ounts ¢) RetogDitirn of AJJ iuc¢)roing rE50ur¢ts are T¢￿&0iSed WI￿ the Univ<5ity h&% eTrt#JeMe￿t ￿ the Ee50wcA d an￿￿￿tranbe4UatitifjcdwithrEa￿llable ¥cw¥yalldTtisprnbableth&tthe iDcomewaibeftcrive 1kn followin8 specifi¢ poli¢ies atE applied to Pli¢th Lgories of incrxne. fr¢s grt Volontsry income re¢¢ivEd by way of m. ¢koioDS athd aDd is in fu]1 YL th Statement of Intomt wjd Expthdi￿ wh¢D the University an ¢otttl¢tuett to the Inco￿t. the the gTant b¢rettiv Forelgn euTrty¢itg Monetsry as¥ets and liabilities in foreign curn¢ies ar¢ tra￿lIated ititiy sterknB eithu Èt. tbe T*6.of ex¢haD8e wevoiling x the year-¢od or. wber¢ ther¢ ar¢ tejatsd forwwd foreigo¢x¢h2Dge Gontrac il

(A coM?ANY LIMITEDBY CUAIiWE.E) N(yfES TO THETINANCIAL sfATEMENES FOR THE YEAR Ef4DED 31 DECEMBER 2021 TDgible.fjxe￿ d¢pr¢¢i4ts0 Opera.tin8 rtxed. assets art statrd at cost less ￿￿￿Ulattd dw¢¢iatiott. Thriog th¢ ytrAr, th¢ &#U.. iiK rev￿.1 thè.e4pltalis￿ thre51Lold for opvatiti8.fi¥td from £160to £.1.8D. A"¢tordingty, . 8sAs xttth¢bookwbicb ha￿l￿¢ll￿￿ed Ari"￿10T ￿TS costitig le3$ fhati £180 4ndtI￿tr￿￿ no . 33.3%strw8ht iÉDe I5%str￿t line at C05t as they becojne 01Tr3olets ot oufof date orutM]5able.. thty &r 5mpped aijd ts￿ oyigmal ' . hi8h valu¢s.in rtla¢ioD to costs to ikn% they tre ¢hFrtciatrd The Univcrlily IDvestDKetL DoDatt41 goods services kiAd DoD&edswviGw ￿fi$ in kiod 8r¢ at uDkss itis imprn¢ttcal ¢o.measur8 tbls . rt]iabty. in r85e the o)s¢ of tb¢ item to4he sh￿Id be uscd The gaiti is Eetognised as, Employe¢ beDefits sts ar¢ rq"yirnl to be recO￿ed as wtof th¢G05t of 3kk or fri￿ ws¢ts. Thè"to# of &iy UDU5ed holiday ￿1￿cl[￿t..15 in thtrperiod w whicii. the emplo￿.$ Flnancial instruments TheUniv¢rsity (dy holdsbasic fttwicjal iDknimtnts&ry 4kfo*d in"m IolTh¢. fi￿a￿la10¥s¢ts. attLI .fLO￿tal liabllities of.the u￿lY￿S1ty and theirmea¥0￿b￿Sl9 atea5'fo]Lows:

THE AGA lFN.IV￿lTY ONTIRNATION.AL>NThE IINrrED KINGDO FOR THE ITAR EFIDED 31 DECEMBER 21ni . Settle OE a uetb&s'is orto rvAlisFthe &&set aDdwlé the liabi]ity siEnultkneously. D¢fe￿d in￿rne is Mt de¢rlled to.be & f￿anCIal. Itabiliry, &f the.cash settl¢rntlJ&s already thken .¢(￿[5¢ of busines5 from su[vli￿5. Amothits pJy4b. b w¢jwiE¢d.a liabiliw ifyaymentm. .'k) Provr5iOJ rovisxoDS are r&ogws>a wbetttheilDiv¢f5ity"Iw w Obfjwion atthe YwtingdftreA8 arnlt of.a . ba"4stiti"atedrtliabty. alll0lit￿, discOu￿ted at tht Pr￿￿¥ di5¢tyUtst r th•t wflects th¢ 5peci6c, tg Ihe iiab"iknty. Il I￿￿1r￿é1lt offixe4 wets such indi¢8tiots exist5. the It￿Ve[able amourt of •st IS ¢5timotyJ in order to tht¢rn￿e the . exteiit of the impairment logs (If any). Whert"i¢iS Oot [x￿SIbl&tO esttmatsthe reeoverablt &1￿1￿￿ ps. wbicb.tht asw belon￿.. Recoverable awouot thebi8lJezof fa]rn)uel￿ Costs to sellDd.vaJue kn ￿￿..10 vol rat¢'th4"t r¢n¢¢ts ¢tht'matht.assesstnrnts of the fime valutrof money 8tkl.the rtsks srrtific tC+the sILorfalls b¢[w.¢e￿ the caryiDgvalueof fLxedassets •Ldtheirrncov¢Jable amounts'ar¢reco8Di*I.as

(A COMPANYUMTFED BY GUAIIANTEE) FOR ThE YEAR ENDED31 DECEMBER 2021 (QT C&8lt.guLeJatingunit) isirLCre&￿1tOthert¥L%ed estimateofitsrreovetabk 8moull¢but$otsthe m) Tthtio ArrA￿d[[L81y. theunivetsity i%rKrtntialty exempt fromtsyion I￿￿55￿¢tOr ineom¢ ￿ copitsl gai wltbtts ¢af¢etYies o)ver&l by (Wer3 Part I l of the Cowaiion Tu Art2010 ￿ s￿l￿J) 256 ofthe Taxatrth of Cbat8eable GaitisAct 1992: tytheexyentthatsuch TncOmeorga￿￿aTe appIied baTitabl¢ obFcts of th¢ Urrivusiry d th¢ of th¢tliye¢wYs. a￿d￿SUMp￿thatb￿¥e &$i8okfiixotTiskof(xusitig ama*r1aladius￿t￿tt0thc￿ryjtig amouj theBa1ats￿ SlweL

(A COMPAfiY LIMTfED BY GUARANfEE) NOTES TO THE FINANCIAL >fATEh￿NTS FOR THE YEARzfiDED 31 DECEMBER 21121 oth¢rin¢ow¢ 2Q21 94.534 (79.155) 184.433 (IYl140) 15379 31293 77.696 23.598 88.665 34.538 114673 155.d96 3,049.897 '.lJ59,961 135.7 1.652J47 4.884.621 3326,523 This CODtribwiou r¢¢wded as adofjation.itL.kmdbaving avabx to the Univ• of £J.6ll.547 (2020.. £1.630.779). UniYer8ity or£ir2.177 (2020.. £135.783). 75

FOR TUE YEAR ENDEDJI DECEhfBER 1021 Staff cwts 2D21 1991234 231J52 I9QA68 32.817 lJ97.824 l61,75Q Social S￿rtY ¢4J5L% Other ltaff tosts .39259 1446.trli "1.723,352 KryJDaDgethat peTsonDel 2021 208.991 198,918 2021 Y4urnbv 2020 Nuwb¢r F&¢ulty li 20. 14 Vpsitijjg lects4eTS 37 16

. KFEAN UNIV￿r[Y IlNfERNATXONAL) IN ThE iJNrrED KINGDOM (A COTh£VAf4Y LIMITED BY GUARAprfEE) N(yfES TO TIiE Ff4ANCtAL STATEMENTS 2f£i 9ts74 1.652.547 29.117 186.179 104.028 24448Q 511.401 182.177 Supplies and 5ub5criMiws 1,591 118245 65229 119.494 727.W28 135.783 ,, ProfewioDal ft¢s Shared 5UPPOrt service5 {note"12.1) 1934451 2.807.823 16.( 155 Tx8tion TA￿TrI1e fL¥•J 81gtts equipmt4t A3 a¢ l J￿V￿ry 2021 248516 22219 491391 19S¥XI 759.807 A5 at 31 DffWb¢T2￿2J 70.735 491.391 19. 782. Depretill￿ As at l JatLuary2021 188.830 52.133 475.910 664.740 59.122 As at 3l.DeuMb￿2¢r21 240.963 481899 Net twk value As at 31 DK¢mbty202Q 59.686 15,481 I9.9￿j 95.￿7 As at 31 Dec¢th21f21 29,772 8.4￿2 19,900 58.164 17.

NOTES TO TRE FINANCIAL ￿AT£￿Er4]s FOR THE YEAR ENDED 31 DECEMBER 2021 tnVÈ5tweDts wbgidiaryThu beeD donDaDrsitt¢e its ei*rJ 2P21 236.757 34.740 472.575 48278 Pr¢paym¢nts 271.497 520.853 l8

(A CoTrIP￿ly L[￿irrED BY CiIARANTEE) FOR TItE YEAR ENDED 31 DECEMBKR2O21 JO. Crodhors: athottttts falliDgthivilhiTr 4Mey TAde pqyabks 96.$37 19.642 D¢poss heid T&x4tiLYA and social 5earity 4.>41 101,440 192(Xl 124 89,988 25.863 222.421 135,610 SDclu&dwithiDtru& pryabl¢s is #suw of £Nil (2020: £8227) AgaXhaD UDiVa5ity Paknsf¥n. ii. .Control Tho titnitofthe totsl Euarantees of￿￿ QLallbc45" oftheUniYu5Ay amouDl¢d to £2 atthe aoda of year. The guaTall￿ atc prnvKled as 10 £1 by A8a Kh8D Univ.ttsity. aDd as to £1 by A£a Kh Ethjeatirn Servwu SA. knd A8aKth Foundatton Iunited KiDgdcqn). RE￿1Vable frC￿ l (Paythk tl)): 2Crt).(YJO (8227) u$a8e by the Urrivetsity of the Aga KbaD c￿tr4 Lon(k)n and Stydent at K]n8's Cro&8. This c(wtnbuknh&% he￿ re¢Lrdcd kniDg a vakn￿ ￿ the Univ¢r5ty of £1.65L347 (2020= U.630.779). Univeysity of£l81177 (2020: £135,7831