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|Board ofDirectors|Board ofDirectors|Dr. Lisa Anderson||
|---|---|---|---|
|||Dr. David Taylor||
|||Habib Motani||
|||Prof Azim Nanji||
|||ProfEugene Rogan||
|||ProfJane McAuliffe||
|||Rahim Hooda||
|||Salimah Currimbhoy||
|||Shagufta Hassan —Appointed|on 27 May 2022|
|Secretary||Dr. Charlotte Whiting||
|Company|Number|04448389||
|Charity Number||01179136||
|Registered Office||Aga Khan Centre||
|||10Handyside
Street||
|||London||
|||Nc1 4DN||
|Principal|OIIice|Aga Khan Centre||
|||10Handyside
Street||
|||London||
|||NC1 4DN||
|Auditors||UHY Hacker Young LLP||
|||Chartered Accountants||
|||Quadrant House||
|||4Thomas More Square||
|||London E1W 1YW||
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||Page|
|---|---|
|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|
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|||||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|
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||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|
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||||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|
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||||||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|
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|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||
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|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|
|||2022|2021|
|---|---|---|---|
|||Number|Number|
|Faculty||11|11|
|Support|services|20|20|
|Visiting|lecturers|1|1|
|Research|fellows|5|5|
|||37|37|
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|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|
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|---|---|---|---|---|
|7.
Tangible fixed assets|||||
||Computer|Library|Manuscripts|Total|
||equipment|books|||
|Cost|||||
|As at 1 January 2022|270,735|491,391|19,900|782,026|
|Additions|23,438|||23,438|
|As at 31December 2022|294,173|491,391|19,900|805,464|
|Depreciation|||||
|As at 1January 2022|240,963|482,899||723,862|
|Charge foryear|21,495|4,848||26,343|
|As at 31December 2022|262,458|487,747||750,205|
|Net book value|||||
|As at 31December 2021|29,772|8,492|19,900|58,164|
|As at 31December 2022|31,715||19,900|55,259|
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|S.|Investments||
|---|---|---|
||Subsidiary|company|
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|Debtors|||
|---|---|---|
||2022|2021|
|Other debtors|196,427|236,757|
|Prepayments|27,855|34,740|
||224,282|271,497|
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|Creditor|s: amounts
falling|due within
one year|||
|---|---|---|---|---|
||||2022|2021|
|Trade payables|||55,603|96,837|
|Amounts|owed to subsidiary|undertaking|1|1|
|Deposits|held||24,685|4,941|
|Taxation|and social security||80,953|101,440|
|Accrual s|and deferred income||24,000|19,200|
|Members'|funds||2|2|
||||185,244|222,421|
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|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|