| Contents | Contents |
|---|---|
| TRUSTEE'S ANNUAL REPORT ............................................................................................................ 2 | |
| Independent auditor's reporttothe TrusteesofThe Exeter University Foundation ..................... 7 | |
| STATEMENTOFFINANCIAL ACTIVITIES FOR THE YEAR ENDED31JULY 2024 .......................11 | |
| BALANCE SHEET AT31JULY 2024 .......................•......................................................................... 12 | |
| NOTES | TOTHE FINANCIAL STATEMENTS FOR THE YEAR ENDED31JULY 2024 .................... 13 |
| 1. | Accounting policies ............................................................................................................... 13 |
| 2. | Income and endowments ...................................................................................................... 16 |
| 3. | Net Incoming resources ........................................................................................................ 16 |
| 4. | Analysisoftotal resources expended ................................................................................. 16 |
| 5. | Donated assets ....................................................................................................................... 16 |
| 6. | Trustees' and Employees' remuneratlon ............................................................................. 17 |
| 7. | Tangible fixed assets ............................................................................................................. 17 |
| 8. | Debtors .................................................................................................................................... 18 |
| 9. | Creditors:Amountsfalling duewithinone year ................................................................. 18 |
| 10. | Relatedpartytransactions .................................................................................................... 18 |
| 11. | Restrictedfunds..................................................................................................................... 19 |
| 12. | Unrestrictedfunds................................................................................................................. 20 |
| 13. | AnalysisofNet assetsperFund ..........................................................................................21 |
ollows: |
|
|---|---|
| 2024 £ Incoming resources 62,257 Resources expended 66,440 Net movementoffunds (4,183) |
2023 £ 38,907 35,044 |
| 3,863 |
THE EXETER UNIVERSITY FOUNDATION
Independent auditor's report to the Trustees of The Exeter University Foundation {continued)
Auditor's responslbllltles
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue our opinion in an auditor's report. Reasonable assurance is a high level of assurance but does not guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of the financial statements.
A fuller description of our responsibilities is provided on the FRC's website at w.frc.org.uk/auditorsresponsibilities.
The purpose of our audit work and to whom we owe our responslbllltles
This report is made solely to the charity's trustees as a body, in accordance with section 145 of the Charities Act 2011 (or its predecessors) and regulations made under section 154 of that Act. Our audit work has been undertaken so that we might state to the charity's trustees those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and its trustees, as a body, for our audit work, for this report, or for the opinions we have formed.
Rees Batley
for and on behalf of KPMG LLP, Statutory Auditor Chartered Accountants
KPMG LLP is eligible to act as an auditor in terms of section 1212 of the Companies Act 2006 66 Queen Square Bristol
29 May 2025
10
| Note Income and endowments from: Donations and legacies 2 Total Expenditure on: Charitable activities 4 Total Net (expense)/income and Net movement offunds Fund balances brought forward Fund balances carried forward |
Unrestricted Restricted Total Funds Funds 2024 £ £ £ 58,728 3,529 62,257 58,728 3,529 62,257 (58,728) (7,712) (66,440) (58,728) (7,712) (66,440) (4,183) (4,183) 78,333 4,183 82,516 78,333 78,333 |
Total 2023 £ 38,907 |
|---|---|---|
| 38,907 (35,044) |
||
| (35,044) 3,863 78,653 82,516 |
| Note Current assets Debtors 8 Cash at bank and in hand Creditors: amounts falling due within one year 9 Net current assets Net assets The fundsofthe charity Restricted funds 11 Unrestricted funds: General funds Designated funds 12 |
2024 £ 7,187 97,746 104,933 (26,600) 26,600 78,333 78,333 |
2023 £ 6,979 91,458 |
||
|---|---|---|---|---|
| 98,437 (15,921) |
||||
| 15,921 | ||||
| 82,516 | ||||
| 4,183 78,333 82,516 |
||||
| 78,333 |
| 2024 £ Donations and legacies 5,394 Tax claimed 1,163 Governance costs 55,700 Total 62,257 |
2023 £ 6,087 1,209 31,611 38,907 |
|---|---|
| These are stated after charging: Auditor's remuneration for auditofthese financial statements audit fee stated exclusiveofVAT 4.Analysis of total resources expended Year ended31July 2024 Charitable expenditure: Governance costs Grants paid to UniversityofExeter Year ended31July 2023 Charitable expenditure: Governance costs Grants payable to UniversityofExeter Unrestricted Funds General Designated Funds £ £ 3,028 55,700 3,028 55,700 Unrestricted Funds General Funds £ 3,433 ----- 3,433 Designated £ 31,611 31,611 |
These are stated after charging: Auditor's remuneration for auditofthese financial statements audit fee stated exclusiveofVAT 4.Analysis of total resources expended Year ended31July 2024 Charitable expenditure: Governance costs Grants paid to UniversityofExeter Year ended31July 2023 Charitable expenditure: Governance costs Grants payable to UniversityofExeter Unrestricted Funds General Designated Funds £ £ 3,028 55,700 3,028 55,700 Unrestricted Funds General Funds £ 3,433 ----- 3,433 Designated £ 31,611 31,611 |
2024 £ 9,100 |
2023 £ 8,750 Total 2024 £ 66,439 66,439 Total 2023 £ 35,044 35,044 |
|||
|---|---|---|---|---|---|---|
| Restricted Funds £ 7,712 7,712 Restricted Funds £ |
||||||
| 31,611 |
| Amounts owed by the UniversityofExeter Other debtors |
2024 £ 6,750 437 7,187 |
2023 £ 6,750 229 |
|---|---|---|
| 6,979 |
| 9. Creditors: Amounts falling due within one year | ||
|---|---|---|
| Accruals Amounts owed to the UniversityofExeter |
2024 £ 10,920 15,680 26,600 |
2023 £ 3,349 12,572 |
| 15,921 |
| Asat31July 2024 AF - Student Life Fund AF- Library and IT Fund AF* - Scholarships&Student Hardship Community Action Annual Fund Other Funds: 2024: £1.106 (2023: £1,136) As at31July 2023 AF - Student Life Fund AF - Library and IT Fund AF - Scholarships&Student Hardship Community Action* Annual Fund Other Funds: 2023: £1, 136 (2022: £69) |
Balance MovementinResources: Balance 31July Incoming Outgoing 31July 2023 2024 £ £ £ £ 394 519 (913) 1,318 1,195 (2,513) 870 516 (1,386) 167 150 (317) 298 111 (409) 1,136 1,038 (2,174} 4,183 3,529 (7,712} |
|---|---|
| Balance MovementinResources: Balance 31July Incoming Outgoing 31July 2022 2023 £ £ £ £ 394 394 123 1,195 1,318 54 816 870 17 150 167 27 271 298 69 1,067 1,136 290 3,893 4,183 |
| Asat31July 2024 Unrestricted Funds - Designated - Bill Douglas Centre - Not Designated Asat31July 2023 Unrestricted Funds - Designated - Bill Douglas Centre - NotDesignated |
Balance Movement in Resources: Balance 31July Incoming Outgoing 31July 2023 2024 £ £ £ £ 78,333 55,700 (55,700) 78,333 3,028 (3,028) |
|
|---|---|---|
| 78,333 58,728 (58,728} 78,333 Balance Movement in Resources: Balance 31July Incoming Outgoing 31July 2022 2023 £ £ £ £ 78,334 31,610 (31,611) 78,333 29 3,404 (3,433) |
||
| 78,363 35,014 (35,044} 78,333 |
| Restricted Funds Current Assets AF - Student Life Fund AF - Library&IT Fund AF - Scholarships & Student Hardships AF - International Students AF-GraduateSchool Fund Modern Languages Community Action Annual Fund Boat Club Fund DLasok Memorial Carolyn&Andrew Fund Student Family Library Bookplates Sports Fund Net assets- Restricted Funds Unrestricted Funds - Designated Current Assets Bill Douglas Centre Accrued expenses Net assets- Designated Funds Unrestricted Funds - Not designated Current Assets AF-Wherever the need is greatest Current liabilities Accrued expenses Net assets- Unrestricted Not designated Funds TOTAL FUNDS |
31July 2024 Net assets (£) 78,333 78,333 78,333 |
31July 2023 Net assets (£) 394 1318 870 167 196 298 313 125 502 |
|---|---|---|
| 4,183 78,333 |
||
| 78,333 | ||
| 82,516 |