The Southampton University Development Trust
Annual Report
For the year ended 31 July 2024
Charity Registered Number: 295753

THE SOUTHAMPTON UNIVERSITY DEVELOPMENT TRUST
295753
CONTENTS
Referenc¢ and Administration Details of ihe Charity
Report of th¢ Trustee
34
Statement of financial activities
Balance sheet
Notes to the annual ac¢ounts
7-10
Independent Examiner's Report

THE SOUTHAMPTON UNIVERSITY DEVELOPMENT TRUST
295753
Reference and AdmlnlstratiOD DetaiLs of the Charity
For the yeor ended 31 July 2024
Trust information
Charlty registration Dumber
295753
Registered address
University of Southamplon
University Road
Southampton
S017 IBJ
CorporAte Trustee
The University ol Southampton
llldepettdettt Examiner
Eric Jones
J&S Accountants Limiled
6 Northlands Road
Southampton
S015 2LF

THE SOUTHAMPTON UNIVERSITY DEVELOPMENT TRUST
295753
Report of the Trustee for the year ended 31 July 2024
The Trustee presents its annual report and ac¢ounts of the charity for the year ended 31 July ?024. The ac¢ounts
have been prepared in accordance with ihe accounling wblicies set out in note 2 to the accounts, and th¢
Statement of Recommended Practice.. Accounting and ReFK>rtiTJg by Charities preparing their accounts in
accordance with the Financial Re5KYrting Standard applicable in the UK and Republic of Ireland (FRS 102),
effective from l January 2019 and with the Charities Act 2011.
Structure, Governance and M#ttagement
The Trusi is an uninwrwrated trust, ¢onstilut¢d under a Trust Dttd dated 15 Octo￿r 1986, as amended by
R¢solulion of the Trustees daied 22 January 2009, and is a registered charity, nuinber 295753.
The Trust Deed was subsequently arnended by Resolution of the Sole Trustee dated 31 July 2018.
The University of Southampton is the Sole Corwjrate Truste¢. No new Trustee appointments have been made
in this p¢riod and no Trustc¢ r¢muneration paid in thc year.
Objectives and aetivities for the public benefit
The main purpose of the Tn]st is to financially supwjrt ihe University of Southampton by way of gift, legacy,
grant, loan. guaranlee or such other forni of financial assistance as the Trustee shall consider appropriate for
the advancement or knefit of the University.
The University of Southampton enables over 24,000 full-tiTne and part-time students annually to enjoy the
benefits of higher education. and pursue5 resear¢h across a wide range of dis¢iplin¢s to enhance society,
improve healih¢are and increase ¢conomi¢ well-being. The Sole Cor￿rate Trustee is mindful of its
responsibility as a charity under the 2011 Charities A¢t.
The Sole Corporale Trustee has referred to the guidance contained in the Charity Commission's general
guidan¢e on public benefit when r¢viewing its aims and objectives and in planning for future activities.
Acbievements & Performance
The Fund contribut¢d £35,000 towards twelve bursaries awarded via the University of Southampton.
Financial Review
The Fund has been invested wilh Aegon Asset Managemenl ( Kames Capital plc ) Since June 2018.
Fundraising Review
The T￿￿t does not actively fundraise &5 all monies are being directed through the University.
Grant makillg policy
All funds received by the Trust are all￿ated io meet the priorities in lin¢ with the original donation.

THE SOUTHAMPTON UNIVERSITY DEVELOPMENT TRUST
295753
Report of the Trustee for the year ended 31 July 2024 (eontinved)
Risk M#nagement
The University Council and Audit Committee review the University risk register af regular intervals and
¢onsider that it is consisl¢nt ivith their knowledge of the University's activities and addresses the key aspe¢t5
of the University's strategic plan. The main risks that have been identified and acted upon for this finai)¢ial
year are laid out in the 'University of SouthaTnpton Annual Review and Financial Statements 2023-24,.
Reserves policy
The Trust can operale on a minimal level of reserves sufficient to cover on going governan¢e costs.
Future Plalls
SUDT will remain open until 2027 to conlinue lo administer ihe Richard Newitt Endowment Fund as per the
Deed of Appointmenl and Retirement of TTUStees. Its aim is to achieve enough investment income to cover the
annual bursaries.
The priorities for the forthcoming year are to maintain ihe Trust to oversee the one remaining endowment fund
and to honour any lega¢y agreements made in favour of Southampton University Development Trust.
Trustee's responsibilities in relation to the accounts
The Trustee is responsible for preparing the Trustee's Report and annual accounts in accordan¢e with
applicable law and United Kingdom Accounting Standards. The law applicable to ¢hariti¢s in England and
Wales requires the Trustee to prepare annual accounts for each financial year which give a tru¢ and fair view
of the stale of affair5 of the charity and of incoming resources and application of reSou￿¢S of the charity for
that period. In preparing th¢s¢ accounts. the Sole CorpKJrate Trustee 15 required to..
select suitable accounting PKJlicies and then apply them consi5tently'
observe the methods and principles in the Charities SORP.
make judgements and estimates that are reasonable and pmdenl.
state whether applicable accounting stsndards have E*¢n followed. subject to any material departures
disclosed and explained in the annual accounts" and.
prepare the annual accounts on the going Concern basis unless it is inappropriate to presume that the
charity will continue in operation.
Keep adequate accounting record5
Safeguard the assets of the charity and hence tske reasonable steps for the prevention and detection of
fraud and other irregularities
For and on behalf of the Trustee
Joanne Donahoe, Executive Director of tkvelopment & Alumni Relations
Date:
ki ft4 , 909<

THE SOUTHAMPTON UNIVERSITY DEVELOPMENT TRUST
295753
Statement of Fsnanci*l Activities
For the year ended 31" July 2024
Unresricted
Fvnds
Restricied
Funds
Endowmenl
Funds
Total Fund5
2024
Total Funds
2023
Note
INCOMING RESOURCFS
Ineome And
endowments from:
Donaiions
Investsnents
41,088
41.088
34,779
Totsl
41,088
41,088
34,779
RESOURCES EXPENDED
Exptnditllre on:
Charitsble activilics
35.000
35,000
34,140
Governance costs
Support cost5
Totsl
35.005
35,005
34,143
Net intomtl
lexpenditurel befort
tran5f¢r5
6,083
6.083
636
Transfers (toll from
lJniver5ity' of
Southampton
Net incornel
expenditure) before
tnvestment
6.083
6.083
636
Gainsl ILossesI on
investment
190.800
I￿.8{)0
(86.159)
Net movwDtDt ith fulld$
196.883
196,883
(85,523)
Re¢on¢ili#tiott of
fund5:
Total funds brought
forn'ard at l August
2023
1.500.748
1,500.748
,586.271
Total fund5 carried
forward at 31 July
2024
1.697.631
1.697.631
1.500.748

THE SOUTHAMPTON UNIVERSITY DEVELOPMENT TRUST
295753
Balance Sheet
A5 at 31 July 2024
21124
2023
Notes
Flxed Asstt$
InYesimenis- endowment fund5
1,666,805
1.476,005
Current A$set5
Debtors
Cash al bank and in hand
65.826
.732.631
58.883
1.534.888
Creditors: Amounts Falling Dut withiTh One Year
135,000)
(34,140)
Net Current Assets
1.697.631
1.500.748
Total Net A55et$
1,697.631
1.500.748
Fund$ of the Charity
Endowmeni FuT)ds
1.697.631
1,500,748
Restricted income funds
Unresiricted funds
Total Funds
1.697.631
1.500,748
The annual accounts were approved by the Trustee and w¢r¢ signed on its behalf by:
Joanne Donahoe, Ex¢¢ulive Dir¢¢lor of Development & Alumni
R¢lations
Dale:
/lb•, 9co<

THE SOUTHAMPTON UNIVERSITY DEVELOPMENT TRUST
Notes to the annual accouDt5
For tbe year ended 31 July 2024
295753
l. Basis of Prepgration
1.1 Basis of Accounting
These a¢¢ounts have been prepared under the historical c05t convention with items recognised al
cost or transaction value unless otherwise stated in the relevant note(5) lo these accounts.
The accounts have been prepared in accordance with the StateTncnt of R¢cownmended Practice..
Accounting and Reporting by Charilies preparing their accounts in accordance with the Financial
R¢porting Standard applicable in the UK and Republic of Ireland {FRS 102} effective from I
January 2019 and with the Charities Act ?01 l.
1.2 Going CoDcerD
These accounts are prepared under the going concern basis.
2. Accounting Policies
2.1 Income
Income is recogni5ed in the period in which the Trusl is ¢nlitled to receipt and the amount can be
measured with reasonable certainty.
Donations are only included in the SOFA when the general income recognition criteria are met.
Incom¢ from interest and dividends is included in the accounts when ihe receipt is probable and
the amount r¢¢¢ivable can be measured reliably.
Investment gains and losses includes any realised or unrealised gains or losses on the sale of
investments and any gain or loss resulting from revaluing invesimenls lo market valu¢ at the end
of th¢ year.
2.2 Expenditure and ligbilities
Expenditure is included on an ac¢rn21s basis.
Support costs have been allocated be￿¢¢n governance costs and other suprM)rt. Governance costs
comprise all cost5 involving publi¢ accounlability of the charity and its compliance with regulalion
and good practice.
Support costs include central functions.
The charity has creditors which are measured at settlement amounts less any trade discounts.
2.3 Assets
Inveslmenls ¢ompris¢ of an endowment fund which is measured at fair value, its mark¢1 value. at
the year end.
The endowmeni fund represents those &ssets which must be held pernianently by the Charity.
Any Capital gains or losses arising on the investments fom part of the endowment fund.
Debtors are m¢asur¢d at the cash or other considerdtion expected to be received.
Cash held includes cash and cash equtval¢nts with a maturity date of les5 than one year held for
investm¢nt purposes rather than to meet short temi cash commitment5 a5 they fall due. They ar¢
valued at faiT value.

THE SOUTHAMPTON UNIVERSITY DEVELOPMENT TRUST
295753
Notes to the annual gccounts
Forthe year ended 31 July 2024
3. Analysis of income
Unrestri¢ted
Funds
Restricted Endojyment
FU￿d8
Fund5
Total
2024
Total
2023
Analysis
tk)nations
Income from inve5tments'.
Interest income
37,878
37,878
31.992
Dividend income
other income
3.210
3.210
2.787
41,088
41.088
34.779
4. An#lysi5 ofexpenditure
Expenditure o
cbaritable activities
UDreslricted Restricted Endowment
Funds
FuDds
Funds
Total
2024
Total
2023
Grants
35,000
35.000 34,140
Governance costs
Support costs
35.005
35,005
34,143
5. Fees for examinalion of the accounts
Independent examiner's fee for the year is £390 (2023-. £390) and relates solely lo the eAamination with no
additional work undertaken. The fec is paid for directly by The University of Southampton (Sole Corporate
Trustee).

THE SOUTHAMPTON LfNIVERSITY DEVELOPMENT TRUST
295753
Notes to the annual accoullt5
For the year ended 31 Juty 2024
6. Fixed Asset Investments
Ricbard
Nem'itt
Bursaries
Richard
Nem'itt
Bursaries
2024
2023
Fund b*lan¢es brought fonyird
1,500,748
1.586.271
Income
41,088
34,779
Expenditure
(35,005)
(34,143)
Transfer5
Gains and Ios5e5
190.800
86,159
Fund balances earned forwgrd
1.697,631
,500,748
The Richard Newitt Bursaries wa5 set up in 2008 to provide bursarics to s￿dentS of the University of
Southampton.
7. Debtot¥
2024
2023
Other Debtors
8. Creditors and accruals
2024
2023
Accruals
Creditors
35.000
35,000
34,140
34.140
9. Transactions with Trnstees and related pirties
The University of Southampton is the Sole Corwrate Trusle¢.
During th¢ year grants to the University were made totalling £35.000 (2023.. £34.140) and at the year-¢nd £Nil
(2023: £Nil) was due to the University.
Transactions with the Corporate Trustee comprise of supwrt services provided by the University of
Southarnpton in administering the annual bursary awards.
No remuneration has been paid to the Corporate Tn￿tee in the year (2023 - same).

THE SOUTHAMPTON UNIVERSITY DEVELOPMENT TRUST
295753
10. Control
The financial control of the charity 15 held by the Corwrate Trustee and in accordance wilh ihe Trust Deed.
10

THE SOUTHAMPTON UNIVERSITY DEVELOPMENT TRUST
295753
llldepettdent examiner's report to the trustee of Tbe Soutbampton UnTI'er6ity Development Trust for
the year ended 31 July 2024
I report on the accounts of the Trust for the year ended 31 July 2024, which are set out on page5 3 to l O.
RespoD5ibilities and basis of report
As the charity's trustees, you are responsible for ih¢ preparation of the accounts in accordance with the
requirements of the Charities Act 2011 ('the A¢t").
I report in respect of my examination of the Trust's accounts ¢arried out under section 145 of the 201 l Act
and in carrying out my examination, I have followed all the appIl￿ble Di￿tiOnS given by ih¢ Charity
Commission under section 145(5)(b) of the Act.
Independen¢ eIgmiDer's statement
I hav¢ ¢ompleted my examination. I confirm that no material matters have come to my attention in ¢onne¢tion
with the examination which gives me cause to believe that in. any material respect:
the accounting records We￿ not k¢pl in a¢¢ordance with section 130 of the Charities Act- or
the a¢counts did not accord with the accounting records- or
the accounts did not comply with the applicable requirements concerning the fonn and content of
accounts set OL¢t in the Charities {A¢counts and Reports) Regulalions 2008 oiher than any requirement
that the a¢¢ounls give a 'true and fair, view which is not a matter considered a5 part of an independent
examination.
I have no concerns and have come across no other mafters in connection wilh the examin8tion to which
attention should be drawn in this report in order to enable a proper understanding of the accounts to be
reached.
Eric Jones FCA
J & S A¢¢ountants Limited
6 Northlands Road
Souihamplon
S0152LF
Date:
i¥[.,]-