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|---|---|---|---|---|---|
|Reference and administrative||details ofthe Foundation,||its Trustees and advisers||
|Trustees'
report|||||2-6|
|Independent|auditors'
report|on the financial statements|||7-10|
|Consolidated|statement offinancial activities|||||
|Foundation|statement
offinancial||activities||12|
|Consolidated|balance sheet||||13|
|Foundation|balance sheet||||14|
|Notes to the|financial statements||||15-31|
##
|REFERENCE AND ADMINISTRATIVE
DETAILS OF THE FOUNDATION,|REFERENCE AND ADMINISTRATIVE
DETAILS OF THE FOUNDATION,|REFERENCE AND ADMINISTRATIVE
DETAILS OF THE FOUNDATION,|REFERENCE AND ADMINISTRATIVE
DETAILS OF THE FOUNDATION,|REFERENCE AND ADMINISTRATIVE
DETAILS OF THE FOUNDATION,|REFERENCE AND ADMINISTRATIVE
DETAILS OF THE FOUNDATION,|REFERENCE AND ADMINISTRATIVE
DETAILS OF THE FOUNDATION,|ITSTRUSTEES AND ADVISERS|ITSTRUSTEES AND ADVISERS|ITSTRUSTEES AND ADVISERS|
|---|---|---|---|---|---|---|---|---|---|
|||FOR THE YEAR ENDED 30|||JUNE 2022|||||
|Trustees||Richmond,
The American
International||||University||in London,
Inct||
|||RU Trustee
Limiteds||||||||
|||'||||||||
|||Comprising;
P|Deans, A Oliviera,|R King (resigned 31|||||May 2022), J Bllieva, E|
|||Robertson
(resigned 31 December||2021),CJ DeLaney,|||||M Dennis, A Hans, F|
|||Huang,
I Leroni,|M Meissner, W Durden|||(appointed||26 May 2022), JSEaton||
|||(appointed
1 January 2022)
' Comprising:
P Deans, A Oliviera||||||||
|Charity registered||||||||||
|number||288205||||||||
|Principal office||Unit 12||||||||
|||Chiswick Park||||||||
|||566 Chiswick
High Road||||||||
|||London||||||||
|||W4 5AN||||||||
|Independent|auditors|Peters Elworthy
& Moore||||||||
|||Chartered
Accountants||||||||
|||Salisbury
House||||||||
|||Station Road||||||||
|||Cambridge||||||||
|||CB1 2LA||||||||
|Bankers||HSBC||||||||
|||67George Street||||||||
|||Richmond||||||||
|||Surrey||||||||
|||TW9 1HG||||||||
|Solicitors||Eversheds
Sutherland
(international)|||LLP|||||
|||1 Wood Street||||||||
|||London||||||||
|||EC2V 7WS||||||||
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|||||Unrestricted|Restricted|Endowment|Total|Total|
|---|---|---|---|---|---|---|---|---|
|||||funds|funds|funds|funds|funds|
|||||2022|2022|2022|2022|2021|
||||Note|E|6|5|6|F|
|INCOME AND|||||||||
|ENDOWMENTS|||||||||
|FROM:|||||||||
|Charitable
activities||||||||135,000|
|Investments|||||213,531||213,531|134,273|
|Other income||||||||1,025,700|
|TOTAL INCOME AND|||||||||
|ENDOWMENTS|||||213,531||213,531|1,295,973|
|EXPENDITURE|ON:||||||||
|Raising funds|||7,8|15,544|8,162|14,097|37,803|4,289|
|Charitable
activities|||9|14,376|225,352||239,728|1,747,446|
|TOTAL|||||||||
|EXPENDITURE||||29,920|233,514|14,097|277,531|1,751,735|
|NET EXPENDITURE|||||||||
|BEFORE NET|||||||||
|(LOSSES)/GAINS||ON|||||||
|INVESTMENTS||||(29,920)|(19,983)|(14,097)|(64,000)|(455,762)|
|Net (losses)/gains||on|||||||
|investments|||14|||(613,141)|(613,141)|299,762|
|NET EXPENDITURE|||||||||
|BEFORE TAXATION||||(29,920)|(19,983)|(627,238)|(677,141)|(156,000)|
|Taxation||||||||(2,374)|
|NET MOVEMENT||IN|||||||
|FUNDS||||(29,920)|(19,983)|(627,238)|(677,141)|(158,374)|
|RECONCILIATION||OF|||||||
|FUNDS:|||||||||
|Total funds brought|||||||||
|forward|||17|10,162|34,570|8,007,397|8,052,129|8,210,503|
|Net movement|in funds||17|(29,920)|(19,983)|(627,238)|(677,141)|(158,374)|
|TOTAL FUNDS|||||||||
|CARRIED FORWARD||||(19,758)|14,587|7,380,159|7,374,988|8,052,129|
##
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||||Unrestricted|Restricted|Endowment|||
|---|---|---|---|---|---|---|---|
||||funds|funds|funds|Total funds|Total funds|
||||2021|2021|2021|2021|2020|
|||Note|6|6|6|6||
|INCOME AND||||||||
|ENDOWMENTS
FROM:||||||||
|Charitable
activities|||||||135,000|
|Investments||||213,531||213,531|134,273|
|Other income|||||||1,026,700|
|TOTAL INCOME AND
ENDOWMENTS||||213,531||213,531|1,295,973|
|EXPENDITURE ON:||||||||
|Raising funds||||8,162|14,097|22,259||
|Charitable
activities|||14,376|225,352||239,728|1,747,446|
|TOTAL EXPENDITURE|||14,376|233,514|14,097|261,987|1,747,446|
|Net (losses)/gains|on|||||||
|investments||14|||(613,141)|(613,141)|299,762|
|NET MOVEMENT|IN FUNDS||(14,376)|(19,983)|(627,238)|(661,597)|(151,711)|
|RECONCILIATION|OF|||||||
|FUNDS:||||||||
|Total funds brought|forward|18|9,207|34,570|8,007,397|8,051,174|8,202,885|
|Net movement
in funds||18|(14,376)|(19,983)|(627,238)|(661,597)|(151,711)|
|TOTAL FUNDS CARRIED
FORWARD||18|(5,169)|14,587|7,380,159|7,389,577|8,051,174|
##
||CONSOLIDATED|BALANCE SHEET|||
|---|---|---|---|---|
||AS AT 30|JUNE 2022|||
|||2022||2021|
||Note|6||E|
|FIXEDASSETS|||||
|Investments|14|6,895,609||7,507,397|
|||6,895,609||7,507,397|
|CURRENT ASSETS|||||
|Debtors|15|336,625|460,541||
|Cash at bank and|in hand|238,164|221,103||
|||574,789|681,644||
|Creditors: amounts|falling due within one||||
|year|16|(95,410)|(136,912)||
|NET CURRENT ASSETS||479,379||544,732|
|TOTAL NET ASSETS||7,374,988||8,052,129|
|CHARITY FUNDS|||||
|Endowment
funds|17|7,380,159||8,007,397|
|Restricted funds|17|14,587||34.570|
|Unrestricted
funds|17|(19,758)||10,162|
|TOTAL FUNDS||7,374,988||8,052,129|
##
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##
|||||2022||2021|
|---|---|---|---|---|---|---|
|||Note||||6|
|FIXEDASSETS|||||||
|Investments||14||6,895,611||7,507,399|
|||||6,895,611||7,507,399|
|CURRENT ASSETS|||||||
|Debtors||15|335,825||449,402||
|Cash at bank and|in hand||225,799||174,150||
||||561,624||623,552||
|Creditors: amounts|falling due within one||||||
|year||16|(67,658)||(79,777)||
|NET CURRENT ASSETS||||493,966||543,775|
|TOTAL ASSETS LESSCURRENT|||||||
|LIABILITIES||||7,389,577||8,051,174|
|TOTAL NET ASSETS||||7,389,577||8,051,174|
|CHARITY FUNDS|||||||
|Endowment
funds||17||7,380,159||8,007,397|
|Restricted funds||17||239,939||34,570|
|Unrestricted
funds||17||(230,521)||9,207|
|TOTAL FUNDS||||7,389,577||8,051,174|
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||Unrestricted|Restricted|Total|Total|
|---|---|---|---|---|
||funds|funds|funds|funds|
||2022|2022|2022|2021|
||5|K|E||
|Dividends||213,283|213,283|133,519|
|Interest||248|248|754|
|||213,531|213,531|134,273|
|TOTAL 2021|54|134,219|134,273||
|||Unrestricted|Total|Total|
|---|---|---|---|---|
|||funds|funds|funds|
|||2022|2022|2021|
|||F||5|
|Gain on disposal of23Queen's|Road|||1,026,700|
|TOTAL 2021||1,026,700|1,026,700||
##
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||||Unrestricted|Total|Total|
|---|---|---|---|---|---|
||||funds|funds|funds|
||||2022|2022|2021|
||||6|6|6|
|Bank charges|||156|156|89|
|Auditors|remuneration||2,140|2,140|2,000|
|Auditor's|remuneration|- non audit services|2,109|2,109|2,000|
|Bad debt write off|||11,139|11,139||
|HMRC filing penalties|||||200|
||||15,544|15,544|4,289|
|TOTAL 2021|||4,289|4,289||
##
||||Restricted|Endowment|Total|Total|
|---|---|---|---|---|---|---|
||||funds|funds|funds|funds|
||||2022|2022|2022|2021|
||||6||6|6|
|Investment|management|fees|8,162|14,097|22,259||
##
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##
||Unrestricted|Restricted|||
|---|---|---|---|---|
||funds|funds|Total|Total|
||2022f|2022f|2022
E|2021|
|Provision offacilities and equipment||||8,978|
|Provision ofdonations|14,376|225,352|239,728|1,738,468|
||14,376|225,352|239,728|1,747,446|
|TOTAL 2021|1,623,022|124,424|1,747,446||
##
||Activities||||
|---|---|---|---|---|
||undertaken|Support|Total|Total|
||directly|costs|funds|funds|
||2022|2022|2022|2021|
||E|6|6|6|
|Provision offacilities and equipment||||8,978|
|Provision ofdonations|225,352|14,376|239,728|1,738,468|
||225,352|14,376|239,728|1,747,446|
|TOTAL 2021|1,731,422|16,024|1,747,446||
##
##
|||||Provision of||||
|---|---|---|---|---|---|---|---|
|||||facilities||||
|||||and|Provision of|Total|Total|
|||||equipment|donations|funds|funds|
|||||2022|2022|2022|2021|
|||||6|6||6|
|Mortgage|interest payments||||||8,896|
|Legal and|professional|fees|||||77,821|
|Maintenance|||||||7,824|
|Richmond|University|donation:|dividends||225,352|225,352|124,424|
|Richmond|University|donation:|building||||1,512,457|
||||||225,352|225,352|1,731,422|
|TOTAL 2021||||8,896|1,722,526|1,731,422||
##
|||Provision of||||
|---|---|---|---|---|---|
|||facilities||||
|||and|Provision of|Total|Total|
|||equipment|donations|funds|funds|
|||2022|2022|2022|2021|
|||6|6||6|
|Bank charges|||23|23|284|
|Audit and accountancy|fees||13,482|13,482|12,600|
|Legal and professional|fees||579|579||
|Insurance|||292|292|3,140|
||||14,376|14,376|16,024|
|TOTAL 2021||82|15,942|16,024||
##
##
|||||2022|2021|
|---|---|---|---|---|---|
|||||6|6|
|Fees (net ofVAT) payable|to the Foundation's|auditor|in respect of:|||
|Audit ofthe Foundation's|financial statements|||8,560|8,000|
|Preparation
ofthe Foundation's
financial statements||||2,675|2,500|
##
##
|||||||2022|2021|
|---|---|---|---|---|---|---|---|
||||||||6|
|Richmond|College|Services|2019/20|corporation|tax||2,374|
||||||||2,374|
##
##
||Listed|Investment||
|---|---|---|---|
||investments|cash|Total|
|GROUP|6|5|E|
|VALUATION||||
|At1 July2021|2,535,163|4,972,234|7,507,397|
|Additions|7,526,277||7,526,277|
|Disposals (Proceeds: 62,568,722)|(2,535,163)||(2,535,163)|
|Revaluations|(646,700)||(646,700)|
|Cash movement||(4,956,202)|(4,956,202)|
|AT 30JUNE 2022||||
||6,879,577|16,032|6,895,609|
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||||Group|Group|Foundation|Foundation|
|---|---|---|---|---|---|---|
||||2022|2021|2022|2021|
||||6|E|||
|DUE AFTER||MORE THAN ONE YEAR|||||
|Amounts|owed by group undertakings||279,259|279,259|279,259|279,259|
||||279,259|279,259|279,259|279,259|
|DUE WITHIN||ONE YEAR|||||
|Amounts|owed by group undertakings||55,691|156,618|55,691|156,618|
|Other debtors|||800|11,139|||
|Prepayments||and accrued income|875|13,525|875|13,525|
||||336,625|460,541|335,825|449,402|
##
##
||||||Group|Group|Foundation|Foundation|
|---|---|---|---|---|---|---|---|---|
||||||2022|2021|2022|2021|
||||||6|F|E|6|
|Amounts|owed|to|group|undertakings|75,456|120,276|51,990|67,177|
|Accruals|||||19,954|16,636|15,668|12,600|
||||||95,410|136,912|67,658|79,777|
##
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||||||||Balance at|
|---|---|---|---|---|---|---|---|
||||Balance at1|||Gains/|30June|
||||July 2021|Income|Expenditure|(Losses)|2022|
||||6|6|F|6|6|
|UNRESTRICTED FUNDS||||||||
|Unrestricted|funds||10,162||(29,920)||(19,758)|
|ENDOWMENT||FUNDS||||||
|Endowment|Fund||8,007,397||(14,097)|(613,141)|7,380,159|
|RESTRICTED||FUNDS||||||
|Restricted|Fund||34,570|213,531|(233,514)||14,587|
|TOTAL OF FUNDS|||8,052,129|213,531|(277,531)|(613,141)|7,374,988|
##
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##
||||||||Balance at|
|---|---|---|---|---|---|---|---|
|||Balance at|||Transfers|Gains/|30June|
|||1 July 2020|Income|Expenditure|in/out|(Losses)|2021|
|||E|6|6|F|F|6|
|UNRESTRICTED||||||||
|FUNDS||||||||
|Unrestricted||||||||
|funds||144,529|1,161,754|(1,629,685)|333,564||10,162|
|Revaluation||||||||
|reserve||333,564|||(333,564)|||
|||478,093|1,161,754|(1,629,685)|||10,162|
|ENDOWMENT||||||||
|FUNDS||||||||
|Endowment|Fund|7,707,635||||299,762|8,007,397|
|RESTRICTED||||||||
|FUNDS||||||||
|Restricted|Fund|24,775|134,219|(124,424)|||34,570|
|TOTAL OF||||||||
|FUNDS||8,210,503|1,295,973|(1,754,109)||299,762|8,052,129|
##
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|||||||Balance at|
|---|---|---|---|---|---|---|
||Balance at 1||||Gains/|30June|
||July 2021|Income|Expenditure|Transfers|(Losses)|2022|
||6|5|5|f|5||
|UNRESTRIC-|||||||
|TED FUNDS|||||||
|Unrestricted|||||||
|funds|9,207||(14,376)|||(5,169)|
||9,207||(14,376)|||(5,169)|
|ENDOWMENT|||||||
|FUNDS|||||||
|Endowment
Fund|8pp7 397||(14,097)||(613,141)|7,380,159|
|RESTRICTED|||||||
|FUNDS|||||||
|Restricted
Fund|34,570|213,531|(233,514)|||14,587|
|TOTAL OF|||||||
|FUNDS|8,051,174|213,531|(261,987)||(613,141)|7,389,577|
##
##
##
|||||||Balance at|
|---|---|---|---|---|---|---|
||Balance at 1||||Gains/|30June|
||July 2020|Income|Expenditure|Transfers|(Losses)|2021|
|||6|8||6|6|
|UNRESTRIC|||||||
|TED FUNDS|||||||
|Unrestricted|||||||
|funds|136,911|1,161,754|(1,623,022)|333,564||9,207|
|Revaluation|||||||
|reserve|333,564|||(333,564)|||
||470,475|1,161,754|(1,623,022)|||9,207|
|ENDOWMEN|||||||
|T FUNDS|||||||
|Endowment
Fund|7707635||||299,762|8,007,397|
|RESTRICTED|||||||
|FUNDS|||||||
|Restricted
Fund|24,775|134,219|(124,424)|||34,570|
|TOTAL OF|||||||
|FUNDS|8,202,885|1,295,973|(1,747,446)||299,762|8,051,174|
##
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##
|ANALYSIS OF NET ASSETS BETWEEN|FUNDS - CURRENT|YEAR|||
|---|---|---|---|---|
||Unrestricted|Restricted|Endowment|Total|
||funds|funds|funds|funds|
||2022|2022|2022|2022|
||6|6|6|F|
|Fixed asset investments||15,446|6,880,163|6,895,609|
|Debtors due after more than one year|||279,259|279,259|
|Current assets|73,466|1,327|220,737|295,530|
|Creditors due within one year|(93,224)|(2,186)||(95,410)|
|TOTAL|(19,758)|14,587|7,380,159|7,374,988|
##
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||Unrestricted|Restricted|Endowment|Total|
|---|---|---|---|---|
||funds|funds|funds|funds|
||2021
6|2021f|2021f|2021
6|
|Fixed asset investments|||7,507,397|7,507,397|
|Debtors due after more than one year|||279,259|279,259|
|Current assets|147,074|34,570|220,741|402,385|
|Creditors due within one year|(136,912)|||(136,912)|
|TOTAL|10,162|34,570|8,007,397|8,052,129|
##
|ANALYSIS OF NET ASSETS BETWEEN|FUNDS - CURREN|T YEAR|||
|---|---|---|---|---|
||Unrestricted|Restricted|Endowment||
||funds|funds|funds|Total funds|
||2022|2022|2022|2022|
||F|6|6|f|
|Fixed asset investments||15,446|6,880,163|6,895,611|
|Debtors due after more than one year|||279,259|279,259|
|Current assets|60,301|1 327|220,737|282,365|
|Creditors due within one year|(65,472)|(2,186)||(67,658)|
|TOTAL|(5,169)|14,587|7,380,159|7,389,577|
##
##
||Unrestricted|Restricted|Endowment||
|---|---|---|---|---|
||funds|funds|funds|Total funds|
||2021|2021|2021|2021|
||6|8||8|
|Fixed asset investments|||7,507,397|7,507,399|
|Social investments|||279,259|279,259|
|Current assets|88,982|34,570|220,741|344,293|
|Creditors due within one year|(79,777)|||(79,777)|
|TOTAL|9,207|34,570|8,007,397|8,051,174|
##
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