2023-06-30-accounts

JOHN BROWN UNIVERSITY NORTHERN IREIAND STATEMENT OF FINANCIAL AcnvrriES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 30 JUNE 2023 Unr•strfct•d Unrèstricted funds 2022 2023 Nol•s Incom• from: Donatlons and legacies 344,151 550,492 Ex enditure arL' 0￿ri￿ble activlties 319,711 201777 M•t In¢om• far th• N•t rnmm•nt In fvnds 347,715 Fund balances at l July 2022 194799 1607.084 Fund è•l•n(•5 ￿ 30 Jun• 2023 1979,239 1954799 The 5taternent of finanaal acti￿tIeS indud•s all gains •nd1055e5 recogn15￿ In the year. AJI income and •¥pendlture deriv• from continuiNJ •ctlvltios and is detemiined as unr•stslcted. Th• statsm•nt of finJnd•l artivitl•s ilso complie5 with the requlrements for an Income and expendltur• •ccount Under th• Cornplnies Act 2006. 10-

JOHN BROWN UNIVERSITY NORTHERN IRELAND BALANCE SHEEr ASAf30JUNE2023 TarKJibk assets 1884609 1881,607 Cash at bank and in hand 082 74585 Crnditorg amowts fallng kn wlthln on• y•ar 11,452) (33931 Nét aiffent ass•ts 94630 73,192 Tétsi •xMts <unrt M•bNld•g 1979239 1954799 IK•m• fvnth Unr•thct•d fvnds 1979239 1954799 1979239 1954,799 11

JOHN BROWN UNIVERSITY NORTHERN IRELAND BALANCE SHEET (CONTINUED) ASAf30JUNE2023 The company is entitled to the exemption from the audit rei¥Jirement contained In section 477 of t Companie5 Act 2006, for the year ended 31 June 2022. although an audlt has been carri4d out under Section 65 of the Charities Act (Northem Ireland) 2008. No member of the company has deposlted a notice, PlJrsLtant to section 476, requirin9 an audit of these financial statsments the requirements of the Co￿￿leS Act 2L)J6. The directors acknowledge their responsibiSities for ensuring that the tharity keeps accounting records which comply with sertion 386 of the Art and for.preparin9 finanaal statements which give a mie and fair view of the state of affairs of the company as at the end of the finanaal year and of Its incoffling resourcts and applicailon of resources Including its Income and expenditijre, for the financial year in accordance with the requirements of sections 394 and 395 •nd which othev•4ise ctsmply with the requirements of the Companies Act 2￿fj relating to financial st4t•ments, $0 fir a5 appl'cable to the wfflpany. The membets hav• not r•quired the compry to obtain an ￿dIt af Its fin•na•l statements for the >wr in questlon in Iccordance wlth sletian 476. These finandal statements hav• been pr•parnd in accordance wlth the provisions applicable to COM￿nIeS subjert to the small Compènles regirne. The financial ststements were approved by th• Trustees on .281Q312Q24 Ms K Hadley TruJt•• Comp•ry R•9htr•tion No. N1621611 12-

JOHN BROWN UNNERSITY NORTHERN IRELAND STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 30 JUNE 2023 2023 2022 Nots Cash fl¢Jws frorn op•rntlw di￿tIeS Cash generated from operation5 110,012 396,007 Investlw a¢iJvltles Purthase of tsngible fixed assets (91,515) r1926,256) N•t und In InV&￿Ing •ctMd (90.5151 926.2561 N•t c•h umd In Iln•ft•r 76.585 -13-

JOHN BROWN UNIVERSITY NORTHERN IRELAND NOTES TO THE FINANCIAL STATEMENTS FOR fHE YEAR ENDED 30 JUNE2023 Accounting pollcie5 Charity Inlomatlon John Brown Univetsity Northern Ireland is a private company limited by guarnntee inco￿orated in Northem Irelond. The registered offic• 15 50 Btdford Strert 8effasC Co. Antrim, BT2 7M, Northem Ireland, 1.1 A¢couThtlng conventlon The account5 have been prepared in accordance with the charitys govemin9 documenl the Companies Att 2006 and 'Accounting and Reportlng by Charitis Statement of Recommended PrdCEice applicable to charities preparing their accounts in accordance with the Financial Reporhng Standard applioble in the UK and Republic of Ireland IFRS 1021" (as amended for accounting périods commencing from 1 January 20191. The charity 15 a Public Benefit Entity as defined by FRS 101 The financial 5tstemenls are prepared In sterting, lvhlch Is the fun<tional currenw of the chartty. Monetsry amounts in these f4nan¢ial statements are rounded to th¢ nearest E. The accounts have been prepar•d under the Nstorical cost conventiorn modifled to include certain fin•ncial Instnjments at falr value. The prlnapal accounting policle5 adopted are set out below. 1.2 Going ¢onc•rn At the time of approvin9 the financial statements, the TnJ5tee5 have a re•50nable expettation that the charity hJ5 adequate resources to continue in operation31 èxlstence for tho foreseeable future. Thu5 the Tnjstees continue to idopt the goin9 concern basis of accounting in pr¢p•rlng the fin•noal statements. 1.3 awrit•bl• fvndi Unrestricted fvnds are available for use at the d15cretion of the Trustees In furtheTrnce of th•lr charitable objectNe Restritted funds are Subject to speafic conditlons by don0￿ as to how they may be used. The purpo5e5 and uses of the re*rlcted fund5 are set out In th• notes to the Ilnandal statements. Endowment funds •r• subject to spedfic conditions by donors th•t the capital must b• malntrined by the charity. 1A Inaxne Income is recogni5•d when the charlty is le9alty èntitled to il aftff any performance condltrons hwe been , met, the amounts can be measured reliably, and It is probable that income will be received. Cash donation5 are reco9nised on oceipt Other donations are reco9nised once the tharity ha5 been nottfied of the donation, unless performance condiiions ￿qUIre defeffal of the arnounL Income tax iecoverable in relation to donation5 received under Gift Ard or deeds of covenant Is reco9nised at the time of the donatlon. 14-

JOHN BROWN UNIVERSITY NORTHERN IRELAND NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2023 Ae¢ountin9 polkles (Continu•d) 1.5 Eyn&rture Expendilure is recognisèd once there is a legal or construrtive obfigation to make a ptyment to a third party, it is probable that Settlement will be required and the amount of the obligation can be measured reliably. Expendrture is dassified under the following actlvty heading Éxpenditure on charitable actiwties includes the provisions of food to those in need and activitxs undertsken to further the purposes of the thaty and their a550Ciated 5UPPOrt (Ther ¢<peTrJiture r¢presents thos• items not falliThJ into any other hadiTrg. 1.6 T•nglJle llxed aiy•ts T•ngible flxed assets are Initlally measured at cost and subswjentty measured a¢ ￿st ¢r v•luatlory net of depreciation and iny impairment losses. Depreciation 15 recognlsed so 4S to write off th• cost or valuatlon of as5•ts less their re5idu•l v•lues ov•r their usefvl lfve5 on the following bas F￿ehOld land and bullding5 Flxtures and fitting5 Computers 2%-5% Stright Line 25% s￿Ight line 33% Str¥lght Lin• The gain or loss arising on the dlsp05al of an asset is determlned as the dfference benpMen the sale proceed5 and the clnying value of the asset and is reCOgn￿ed in net incomellexpendtturel for thè year. 1.7 Impairment ol fixqd a¥Mts At each reporting end date, the charty reviews the earrying amounts of its tanglbh a55ets to d•terniine whether there is any indicatlon that those assets have suffered an impaiment loss. If any such irKlkation exists, the recovernble amount of the asset Is estimated in order to deterrnine the extent of the Impairynent loss Of ary). 1.8 Cash and ￿5h •quival•nts Cash and cash equtvalents indudo cash in han4 deposits held at oll with bank4 other short-term liquid Investments with original matsjrities of three months or less and bank overdrdfts. Bank overdrafts ae sh¢)wn withln borrowings in oJrr•nt liabiliri¢s. Basic finandal assets, which include debtofs and cash and bank balanc•% are inilialty measured at tr4nsaction price indudlng transaction costs and are subsequently caffled at amortised c05t using t effecuve interest method unless the arrangement con5tityJtes a financing transaction, where the transaction is measured at the present value ot the future receipts discounted at a market rate af i)teresL Financial assets classified as ￿CeIvable within one year are not amortised. 15-

NOTES TO THE FINANCIAL STATEMEKfs (CONTINUED) FOR fHE YEAR ENDED 30 JUNE 2023 Eountin9 pofici•s (Contlnued) gaAc ffftan¢MIIMbM/lles Bèsic financlal liabllltie5, including creditors and bank loan5 are initially recognised at Iran5artlOn price unless the anangement constitutes a fina￿ing transaction, where the debt instrument is measured at the presÈnt value of the future payTrents dlscounted at a marf(et rate of interest. Financial liabilities classified as payable within one year are not amortised. Debt instruments are subsequently carried at amortised cost, using the effective interest rnte melhod. Trade creditors are Dbligations to pty for goods or services that have bten acquired in the ordinary course of operatlons from supplier5. Amounts payable are cla55ified as ojrrent liabilities If payment is due witfvn one yéar or less. ￿ noL they are presented a5 noTrCUr￿nt liabilities. Trade creditor5 are recognised initially at tran5artion price and subsequently measured at amort15ed cost usin9 the effechve Inte￿5t method. Dere<ognitlan ollhwnd•l l/•bir Financial liabilities are derecagnised when the chartys contractual obligation5 expir• ar ire dlscharged ar cancelled. lj Efflpkne b*n•fits The c05t of any urbU5ed holiday entidement is r•CogniS￿ in the perlod In which the employee's seNic•s ar• r•ceived. Terminatlon benefits ar• rqcognised i￿￿edIatety as an expense when the charity Is demonstrably c¢)mmitted to terminate tho employmerrt of an employee CK to yovld• tormin•tlon benefit& 1.10 R•tlr•mmt b•n•fits Payrnents to defined contrrbution rEtirement boneft scheme5 are charged as an •xpens• ￿ thry fall due. Crlilcal a¢a￿n11n9 ejtimatsii and Judg•ments In the appliatlon of th• tharlty's accounting palicies, the Trustees are requlred to make Judgemerrt5, estimates and assurnption5 about the carrying amount of assets and 11abil￿1¢s that are not readily apparerrt from other sources. The estimates and associated assumptlons are bas•d on hi5torfcal experleno and other fartors that •rn consider•d to be falevanL Actsjal results may dlffer from these estimates. The estlmate5 and Unde￿ng assumptions a￿ reviewed on an ongoing bas[& Revi51ons to accounting estlmate5 are recognised in the period in which the estimate is ￿ViSed where the revision affects only that period. or In the period of tho revision and fijture periods where the revision affects both current and fe perlod 16-

NOTES TO THE FINANCIAL sfATEMENfs (CONTINUED) FOR THE YEAR ENDED 30 JUNE2023 DM•ilons •NI Ityides Unr•strfct•d Unrostricted funth fijnds 2023 2022 DDnatFons and glfts Capltsl doftatl￿ from John Brovm Unher5ity JRS Grant Redvnd 38512 305,639 184069 360.933 1,490 344151 550A92 2023 2022 Stsff costs Doprnajkn aThl impairmert Accommodatlon. Bank Fees Cleanlng IIKchJ5es - Dlrect Educ•tlon•l Eyénses Répalrs & Malnten•nc• Food & Suppll•s Travel Expens•s Ewlptment Hirn 81662 87,513 21478 64720 44649 24131 314 18n 3,815 1&015 9,628 345S4 15,011 1085 1,537 7.503 11118 7.371 1770 Tehphane & Internet Prfjrting, Postage & Stsdonery D(Thtion 1&592 379 301740 171,527 Shar• of govemince costs (see note 51 15,9n 31.250 319,711 2017n 17-

NOTES TO THE FINANCIAL STATEMENTS (coKfiNUED) FOR THE YEAR ENDED 30JUN52023 Support costs 2022 costs Legal and profes5ioNI 15,971 15,971 31250 31.250 15971 15.971 31,250 31.250 Anatysed betsveen Ch•ritsble Ktiwi5es 15.9n 15,971 31.250 31250 6 TNJt• None of the TN5tees (or •ry p•tsons connected with them) recwved any remunerntlon or beneffts from the ch4rlty durfng the ye•r. The d￿rIg• monthly number of qmrAoytts durfng the year wa£ 1022 Numb•r Numb•T 2022 Wages and saarfe5 Soclal securlty co< Other penslon costs 641Q2 1&560 51598 11,928 194 81662 64no No empl¢)yee receivéd remun•rntlon of more than £6QOOO durfng the year12027-NIL) .

NOTES TO THE FINANCIAL STATEMEKfs (CONTINUED) FOR THE YEAR ENDED 30JUNE2023 Tanglble faad asxts Totsl and buldlTrp Cost At l 2022 Additions 1910204 7&80S 11h27 13,710 4.625 2.926.256 90,515 At 30 June 2023 1987,iJ)9 25,137 4625 3.016,771 Depwed•tlon and thnp At 1 July 2022 Depreaation ch¥ged in the y•ar 43.262 81455 1,260 1532 127 1.526 44,649 87.513 At 30 Jun• 2023 14717 4792 1,653 131162 Clnylng •mount At 30 June 2023 861392 20345 1972 ts84609 At 30 June 2022 64942 10,167 4498 2AaiA07 CrodIto￿ •maunts l*lllry du• wlthln •n• y••r 2023 Z022 Other tsxatlon and sod41 s2curlty Accnjals Ind d•f•rr•d Income 1073 1.320 1A52 1,452 3,393 l￿d5 2023 funds 2022 Fund balances at 30 ￿ne Z023 are reprnsented ty. Tan9ible assets Curyent assets/Oiabilltlesl 1884.609 1881.607 94630 73,192 1979239 1954799 18-

NOTES TO THE FINANCIAL STATEMENTS (coNfiNUED) FOR THE YEAR ENDED 30 JUNE 2023 11 Related p•ty tr•nAdtons John Brown Unlvw5ty Northem lrnland Is • related pmty ol John Brown Unlver51ty looted kn th• United States. During th• flnancial year end•d 30 ju￿ 2023 John Brown unp￿￿tty trdnsfeTTed John Brown Univ•%ty Northern Ireland £305,63912022- £519?321. No amount is owed at the year end.