2022-12-31-accounts - The Aga Khan University (International) In The United Kingdom

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Report ofthe Board ofDirectors	1-2
Statement ofthe Board ofDirectors' responsibilities
Independent auditors' report	4-6
Statement ofComprehensive Income and Expenditure
Statement ofChanges in Reserves
Balance sheet
Statement ofCash Flows	10
Notes tothe Financial Statements	11-19

				Total	Total
				2022	2021
INCOME			Notes
					Restated
Tuition fees4	other income			117,031	116,673
Grants utilized				282,602	484,542
Investment income				451	76
Total income before donations				400,084	601,291
Donations				4,701,853	4,960,418
Total income				5,101,937	5,561,709
EXPENDITURE
Staff costs				2,437,611	2,446,071
Other operating	expenses			3,097,490	3,014,248
Depreciation				26,343	59,122
Interest and other		finance costs		1,&68	1,303
Total expenditure				5,563,312	5,520,744
(Deficit) / surplus		before tax		(461,375)	40,965
Taxation
(Deficit) / surplus		for the year		(461,375)	40,965
Reconciliation	of	funds:
Funds brought	forward			1,357,404	1,316,439
Funds carried	forward			896,029	1,357,404

	Unrestricted	Restricted	Total	Total
	Funds	Funds	2022	2021
				Restated
Funds brought forward	999,672	357,732	1,357,404	1,316,439
Total income	4,819,335	282,602	5,101,937	5,561,709
Total expenditure	(5,148,625)	(414,6S7)	(5,563,312)	(5,520,744)
(Deficit) / surplus foryear	(329,290)	(132,0S5)	(461,375)	40,965
Funds carried forward	670,382	225,647	896,029	1,357,404

			2022.	2021
		Notes		g
Non-current	assets
Fixed assets		7	55/59	58,164
Investmenh		8	1	1
			55PN	58,165
Current asseh
Debtors			224,282	271,497
Cash aud cash equivalenh			801,731	1450,163.
			1,026,013	1,521,660
Less: Creditors: amounh Ming due within oneyear		10	(185/44)	{222,421)
Nat current	asseh		840,769	1,299@39
Net Assets			896,029	1,357,404
Fjnsde
Restricted funds			225,647	357,732
Unrestricted	funds		670,382	999'672
Total Funds			896j629	1P57,404

					2022	2021
				Notes	f.
(Deficit) / surplus for the year					(461,375)	40,965
Adjustment for non-cash items:
Depreciation					26,343	59,122
Movements in working capital:
Decrease in debtors					47,215	249,355
(Decrease) / increase in creditors					(37,177)	86,802
Adj ustment for investing orfinancing	activities:
Investment income					(451)	(76)
Interest and other finance cost					1,868	1,303
Net cash (outflow) / inflow from operating		activities			(423,577)	437,471
Cash flows from investing activities
Investment income					451	76
Payments made to acquire fixed assets					(23,438)	(22,219)
					(22,987)	(22,143)
Cash flows from financing activities
Interest and other finance cost					(1,86&)	(1,303)
(Decrease)/increase in cash and cash	equivalents		in the year		(448,432)	414,025
Cash and cash equivalents at beginning	ofthe	year			1,250,163	836,138
Cash and cash equivalents at end of	the year				801,731	1,250,163

2.	Fees dk other income
								2022		2021
	Tuition fees							124,733		94,534
	Less: Remission							(90,155)		(79,155)
	Tuition fees —Net							34,578		15,379
	Jndirect cost recovery —2.1							66,313		77,696
	Short courses, contributions,		donations	and other income				16,140		23,598
								117,031		116,673
2.1	This includes indirect	cost recovered		from	European	Research	Council	Executive Agency,		British
	Academy, and The Gates Foundation
	Donations								Restated
	Donalions from:
	The Aga Khan University		Foundation,	Geneva				2,712,702	3,049,897
	The Aga Khan University		—donations-in-kind					229,706		182,177
	Aga Khan Foundation	(United Kingdom) —donations-in-kind						1,759,445	1,728,344
								4,701,853	4,960,418

Staffcosts consist of:
					2022	2021
Salaries Social security costs				1,973,865 226,633		1,991,234 231,552
Other pension costs Other statf costs					186,738 50,375	190,468 32,817
				2,437,611		2,446,071
Key management personnel
Key management personnel and controlling the activities	are those persons ofthe University.	having Staff	authority and responsibility costs include compensation		for planning, directing paid to key management
personnel.

2022	2021
361,790	368,422

5.	Other operating expenses
				2022	2021
					Restated
	Staffrelated costs Notional rent (usage costofAKC) and notional	property	expense (note 3)	34,276 1,759,445	24,522 1,728,344
	Supplies and subscriptions			28,111	29,117
	Student expenses			163,555	186,179
	Professional fees			186,398	104,028
	Administrative and general expenses			282,266	248,480
	Grant expenditure —restricted costs 5.1			413,733	511,401
	Shared support services (notes 3 and 12.1)			229,706	182,177
				3,097,490	3,014,248
5.1	This includes grant statf salaries ofX290,211
	Other operating expenses include:
	Auditors' remuneration (included in professional	fees)		20,000	16,000

S.	Investments
	Subsidiary	company

i) Outstanding balanc	es arising from transactions carried	out with other related parties are as fo	llow:
		2022	20?1
(Payable to) / Receivable Irom:
Aga Khan University	Pakistan	(3,906)	4,544