Charity Registratlon No. NIC101266 Company Registration No. N1621611 {Northtrn Ireland) JOHN BROWN UNIVERSITY NORTHERN IRELAND ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2022 PAGES FOR FILING WITH REGISTRAR JOHN BROWN UNIVERSITY NORTHERN IRELAND LEGAL AND ADMINISTRATIVE INFORMATION Trustees Ms K Hadley Dr C Pollard111 Mr E Encson Charity number NICIO1266 Company number N1621611 Re9lStered office SO Bedford Street BelFa5t Co. Anirim Northem Ireland 8T2 7FW Auditor FPM Accountants Limited 1 3 Arthur Street Belfast Co. Antrim Northern Ireland BT1 4GA JOHN BROWN UNIVERSITY NORTHERN IRELAND CONTENTS Pa9e Trustees, report Statement ol Trustee5' responsibilities Independent auditorfs report 7. 11 Statement of financial activities 12 8alan¢e shèet 13-14 Statemenl of cash flow5 Notes lo the financial stalements 16-23 JOHN BROWN UNIVERSITY NORTHERN IRELAND TRUSTEES, REPORT (INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 30 JUNE 2022 The Trustees present their report and financial statem¢nis lor the year ended 30 June 2021 Thè acuThting Practice). In oui opinion. Ihe financial statement5'. give a true and lair wew of the slate of the ch*itable tompaty's allairs as at 30 June 2022 and ol its incoming rescwJrces and applicalion of rèsour¢es, for the yeai then ended", have been propeily prepared in a£cordance with United Kingdom Generally Accepled Accouniing Practice.. and have been propared in accordance with ihe requirements of the C¢rnpan*s Art 2006. easls for oplnlon We conducted our avdit in accordance with International Standards on Auditing IUKI IISAS IUKII and applicable law. Oui responsibilities under those standard5 are lurthet de5tribed in the Auditors responsibililies for ihe audit of the hnancial statements seclion ol our report We are independent of the charty in accordance with the ethical requircmertls that are relevant tts our audit ol the h"nancial statements In the U includin9 the FRC'S Ethical Standard, and we have fulfilled our olher ethical responsibililies in accordance with these requirements We believe Ihal the audit evidence we have obtained is sufficient and appropnate to prowde a basis lor cwr opinion. JOHN BROWN UNIVERSITY NORTHERN IRELAND INDEPENDENT AUDITOR'S REPORT {CONTINUED) TO THE TRUSTEES OF JOHN BROWN UNIVERSITY NORTHERN IRELAND Conclusions relating to goin9 C4)Nem In auditing the financial statements, we havè concluLled that ihe Trustees, use ol the going concern ba515 of accounting in thè preparation ol the financial slatements is appropriate. 8ased on the work we have performed. we have not identified any material uncertainties relating to events or conditions that individually or colledNely. may cast significant doubt on the unt ol the obligation can be measured reliably. Expenditure is classified under the folowng activily headings.. Expenditure on charitable adivities I￿ludeS Ihe provisions ol food to those in need and activit*s undertaken to further the purposes ol the charity and their associated support cost% Other expenditure represenls those items fallin9 into any other heading. 1.6 Tangible fixed a5S¢ts Tangible fixed assels are lnibal￿ measured at cost and subsequently measured at cost or valuatioTh net of depreciation and any impairment losse Depreciation is recognised so as lo write off the cosl or valuation of assets less theii residual values over their useful lives on the following bas Froehold land and buildings Fix¢ures and littings Computers 2%-S% Straight Line 25% Siraighl Line 33% Straighi Line The giin or loss arising on the disposal ol an Jsset is determined as the difterence between the sèle proceeds and the carrying value ol the assel and is iecognised in net income/lexpendiiurel lor the year, 1.7 Impairment of fixed assets At each reporting end dale, the charily reM￿S Ihe carwn9 arnounls ol ils 13n9ible 35sets to determine whether there is any Indication that those assets have sullered an impairmenl loss 11 any such Ind￿atron ex15ts, the recoverable 3mount ol the asset is estimated in order to delemiine the extent of the Irnpairrnent10ss lif any). 1.8 Cash and cash equivalents Cash and cash equivalents include cash in hand. deposits held at call with banks, other short-term liquid investments wth original maturittes of three mwths or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabililies. 1.9 Financial Instruments The charity has elecled to appty the provisions of Sed¥)n 11 'Basic Financial Instruments, and Se(tion 12 'Other Financial Instruments Issues. of FRS 102 to all of rts financial instrumenis. Financial instruments are recognised in the charitys balance sheet when the charity becomes party to the contractual provisions ol the instiument. Financial assets and liabilities are offset, with ihe nel amounts wesenied in tlie financial statements, when there 15 a legally enforceable right to set off the recogni5ed amounts and there is an intention to settle on a net basi5 or to reali5e the a55et and settle the liability simultaneously. 17- JOHN BROWN UNIVERSITY NORTHERN IRELAND NOTES TO THE FINANCIAL STATEMENTS (coMfiNUED) FOR THE YEAR ENDED 30 JUAIE 2022 Accounting policies (Continued) Basic financiala550t Bè5ic linanoal assels. which Include deblors and cash and bank bal3nce5. are initially measuied at tran5adion price Including transaction costs and are subsequent￿ carried at èrnortised cost using the ellective interest method unless the arrangement constitutes a financin9 transaeiion, where the transaction Is measured at Ihe present value ol the future receipts disrwnted at a markei rate ol nterest. Financial assets classified as r￿e1Vable within one year are not amortised. Basic financial liabilities. including Credito￿ and bank loans are initially recognTsed at transartion price unless the afrangement constitutes a Iinancing Iiangctiory where the debt instrument 15 measured at the preseni value ol the lutuie payments discLyJnted at a martet late ol interest. Financial liabilitie5 dassified as payable within orbe year are not amortsed. Debt instruments ar* subsequently cairied at amortised cos¢ usin9 the elfective interest rate method. Tradé crtditers are oblig3tK)ns to pay lor goods or services that have been acquired in the ordinary Course ol operation5 from suppliers. Amour)ts payable a¥* classified as current liabilities if payment is due within one year or le55. 11 not, they are presented as non-cuireni liabilities. Trade creditors are recognised Initially at trarb54¢tiort price and sub5eqyentty measured at amortised cost using the effective intèrest meihod. D•rKognitlon 01hna￿￿1/Il￿iIll￿s Financial liabilities are dere