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|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|





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|<br>ollows:||
|---|---|
|2024<br>£<br>Incoming resources<br>62,257<br>Resources expended<br>66,440<br>Net movementoffunds<br>(4,183)|2023<br>£<br>38,907<br>35,044|
||3,863|





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**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** 



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|Note<br>Income and endowments from:<br>Donations and legacies<br>2<br>Total<br>Expenditure on:<br>Charitable activities<br>4<br>Total<br>Net (expense)/income and Net movement<br>offunds<br>Fund balances brought forward<br>Fund balances carried forward|Unrestricted<br>Restricted<br>Total<br>Funds<br>Funds<br>2024<br>£<br>£<br>£<br>58,728<br>3,529<br>62,257<br>58,728<br>3,529<br>62,257<br>**(58,728)**<br>(7,712)<br>(66,440)<br>(58,728)<br>(7,712)<br>(66,440)<br>(4,183)<br>(4,183)<br>78,333<br>4,183<br>82,516<br>78,333<br>78,333|Total<br>2023<br>£<br>38,907|
|---|---|---|
|||38,907<br>(35,044)|
|||(35,044)<br>3,863<br>78,653<br>82,516|





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|Note<br>Current assets<br>Debtors<br>8<br>Cash at bank and in hand<br>Creditors: amounts falling due within one year<br>9<br>Net current assets<br>Net assets<br>The fundsofthe charity<br>Restricted funds<br>11<br>Unrestricted funds:<br>General funds<br>Designated funds<br>12||2024<br>£<br>7,187<br>97,746<br>104,933<br>(26,600)<br>26,600<br>78,333<br>78,333||2023<br>£<br>6,979<br>91,458|
|---|---|---|---|---|
|||||98,437<br>(15,921)|
|||||15,921|
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|||||82,516|
|||||4,183<br>78,333<br>82,516|
|||78,333|||



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|2024<br>£<br>Donations and legacies<br>5,394<br>Tax claimed<br>1,163<br>Governance costs<br>55,700<br>Total<br>62,257|2023<br>£<br>6,087<br>1,209<br>31,611<br>38,907|
|---|---|



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|_These are stated after charging:_<br>Auditor's remuneration for auditofthese financial statements*<br>*audit fee stated exclusiveofVAT<br>**4.Analysis of total resources expended**<br>Year ended31July 2024<br>_Charitable expenditure:_<br>Governance costs<br>Grants paid to UniversityofExeter<br>Year ended31July 2023<br>_Charitable expenditure:_<br>Governance costs<br>Grants payable to UniversityofExeter<br>Unrestricted Funds<br>General<br>Designated<br>Funds<br>£<br>£<br>3,028<br>55,700<br>3,028<br>55,700<br>Unrestricted Funds<br>General<br>Funds<br>£<br>3,433<br>-----<br>3,433<br>Designated<br>£<br>31,611<br>31,611|_These are stated after charging:_<br>Auditor's remuneration for auditofthese financial statements*<br>*audit fee stated exclusiveofVAT<br>**4.Analysis of total resources expended**<br>Year ended31July 2024<br>_Charitable expenditure:_<br>Governance costs<br>Grants paid to UniversityofExeter<br>Year ended31July 2023<br>_Charitable expenditure:_<br>Governance costs<br>Grants payable to UniversityofExeter<br>Unrestricted Funds<br>General<br>Designated<br>Funds<br>£<br>£<br>3,028<br>55,700<br>3,028<br>55,700<br>Unrestricted Funds<br>General<br>Funds<br>£<br>3,433<br>-----<br>3,433<br>Designated<br>£<br>31,611<br>31,611|||2024<br>£<br>9,100||2023<br>£<br>8,750<br>Total<br>2024<br>£<br>66,439<br>66,439<br>Total<br>2023<br>£<br>35,044<br>35,044|
|---|---|---|---|---|---|---|
|||||Restricted<br>Funds<br>£<br>7,712<br>7,712<br>Restricted<br>Funds<br>£|||
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||31,611||||||



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|Amounts owed by the UniversityofExeter<br>Other debtors|2024<br>£<br>6,750<br>437<br>7,187|2023<br>£<br>6,750<br>229|
|---|---|---|
|||6,979|



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|**9. Creditors: Amounts falling due within one year**|||
|---|---|---|
|Accruals<br>Amounts owed to the UniversityofExeter|2024<br>£<br>10,920<br>15,680<br>26,600|2023<br>£<br>3,349<br>12,572|
|||15,921|



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|Asat31July 2024<br>AF* - Student Life Fund<br>**AF***- Library and IT Fund<br>AF* - Scholarships&Student Hardship<br>Community Action**<br>Annual Fund*<br>Other Funds:<br>2024: £1.106 (2023: £1,136)<br>As at31July 2023<br>AF* - Student Life Fund<br>AF* - Library and IT Fund<br>AF* - Scholarships&Student Hardship<br>Community Action**<br>Annual Fund*<br>Other Funds:<br>2023: £1, 136 (2022: £69)|Balance<br>MovementinResources:<br>Balance<br>31July<br>Incoming<br>Outgoing<br>31July<br>**2023**<br>**2024**<br>£<br>£<br>£<br>£<br>**394**<br>519<br>(913)<br>1,318<br>1,195<br>(2,513)<br>870<br>516<br>(1,386)<br>167<br>150<br>(317)<br>298<br>111<br>(409)<br>1,136<br>1,038<br>(2,174}<br>4,183<br>3,529<br>(7,712}|
|---|---|
||Balance<br>MovementinResources:<br>Balance<br>31July<br>Incoming<br>Outgoing<br>31July<br>2022<br>2023<br>£<br>£<br>£<br>£<br>394<br>394<br>123<br>1,195<br>1,318<br>54<br>816<br>870<br>17<br>150<br>167<br>27<br>271<br>298<br>69<br>1,067<br>1,136<br>290<br>3,893<br>4,183|





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|Asat31July 2024<br>Unrestricted Funds<br>- Designated - Bill Douglas Centre<br>- Not Designated<br>Asat31July 2023<br>Unrestricted Funds<br>- Designated - Bill Douglas Centre<br>- NotDesignated||Balance<br>Movement in Resources:<br>Balance<br>31July<br>Incoming<br>Outgoing<br>31July<br>2023<br>2024<br>£<br>£<br>£<br>£<br>78,333<br>55,700<br>(55,700)<br>78,333<br>3,028<br>(3,028)|
|---|---|---|
|||78,333<br>58,728<br>(58,728}<br>78,333<br>Balance<br>Movement in Resources:<br>Balance<br>31July<br>Incoming<br>Outgoing<br>31July<br>2022<br>2023<br>£<br>£<br>£<br>£<br>78,334<br>31,610<br>(31,611)<br>78,333<br>29<br>3,404<br>(3,433)|
|||78,363<br>35,014<br>(35,044}<br>78,333|





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|Restricted Funds<br>Current Assets<br>AF - Student Life Fund<br>AF - Library&IT Fund<br>AF - Scholarships & Student Hardships<br>AF - International Students<br>AF-GraduateSchool Fund<br>Modern Languages<br>Community Action<br>Annual Fund<br>Boat Club Fund<br>DLasok Memorial<br>Carolyn&Andrew Fund<br>Student Family Library Bookplates<br>Sports Fund<br>**Net assets**- **Restricted Funds**<br>Unrestricted Funds - Designated<br>Current Assets<br>Bill Douglas Centre<br>Accrued expenses<br>**Net assets**- **Designated Funds**<br>Unrestricted Funds - Not designated<br>Current Assets<br>AF-Wherever the need is greatest<br>Current liabilities<br>Accrued expenses<br>**Net assets**- **Unrestricted Not designated Funds**<br>**TOTAL FUNDS**|31July 2024<br>Net assets (£)<br>78,333<br>**78,333**<br>**78,333**|31July 2023<br>Net assets<br>(£)<br>394<br>1318<br>870<br>167<br>196<br>298<br>313<br>125<br>502|
|---|---|---|
|||**4,183**<br>78,333|
|||**78,333**|
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|||**82,516**|