RGU FObNDATION
REGISTERED CHAIUTY fvL,MBER SCIM3673
FINANL'CIALSTATE.MEYTS
FOR THEI'EAR ENDED31 JULY2011
MLSTON REJD & CO
CHARTERED ACCUUi*iTANTS
12 CARDE￿ PLACE
ABERDEEN
ARIO IUR

RGU FOUNDATION
CONTENTS
Page
TNsiees' report
lttdepcndeni ex8min&s report
Statcrneni of financial aciLVItics
B31unce sheet
Ststemenl ofeash flows
No(es tsj ihe finan¢ial statements
9-16

RGU FOUNDATION
TRUSTEES, REPORT
FOR THE YEAR ENDED 31 JULY 2021
The trusitts present theirryrt and fjnanciaj slatements for the ycar cndcd 31 July 2021.
Th¢ finan¢i#t staiements hav¢ been prepared th accordance with the accouDtill8 policies sel oui in note 2 10 th¢ f￿ancial
stalemcnl% and rornply with the Chaniics and Trustec Jnvc51ment ls¢(btlandl Acl 2(K)5. Ihc Charilic5 Account$ IS¢otlandl
Regul4?tions 2006 {Hs amended) and "AccouniLng and Reporting by Charitie5.' Stht¢meni of Recommend¢d PTa¢tic¢
2pplicdble io chariti¢S PT¢pann¥ their accounts In accordance wilh the Financial Reportin8 Stattdard applicable in the UK
and R¢publt¢ of Ircland {FRS 1021" amended for a¢¢ouThliftg p¢ti(*ts ¢ommen¢ing from l Januxry 2019}.
Mlsjlon
The RGU Foundation exists 10 inspirE donor5 10 5UPPOrt the strat¢8i¢ oims of Robeft Gordon Univeysiry IRGU). aud lo
invc.4t in th¢ uMtver8ity's vision io become recogni4ed in ScoilaTMt and bcyond as a di4¢inciivc univcT5ity l¢ath'ng and
shaping the 4J¢bllie oll the fuiure ofhigher tduLauun and placin8 Students ai the cenrre of the educaii¢)n it offers.
Objetthves And sctlvtties
Tlitt RGU Foundaliun Js a rewslered charity ISC0436731. li estsblished to inspire phIl￿thrOpY in suppod of
enhancing Icarning* tC4¢hing artd re%earch at RGU.
Thc RGU Foundati()n's purpose i$ to enable th¢ advattc¢ment of educaiion and scholarship throush..
providing fiTwi¢ial $UF4)Ott to RGU:
providing grnnt funding IO SttMiEnts prospeciive swdents of RGU who are sele¢kd for such fundin8 by
RGL", and
th¢ provision of any other sllp￿rt to RGU 25 a8recd bctwccn thc FoundBtion and ihc Principdl of RGU.
RGU %tudents of RGU •rr th¢ sol¢ Twipients ofall gTJnLS md¢ by th¢ RGU FoundaiioTh.
Granih are made lo the university to m&¢ch thmor in*nt.' Ihe utLiVCT5ity ha5 a rcsponsibility to ensure grants ar¢ spetst
$pcLilied by the RGU Fourtd1114)ll.
Thc Budrd of Tru51ccs ha$ ultimat¢ responsibility for all grant makithg de¢isions. The ttwi¢¢s reserve the nyhi noi I
approve any recomtnththiion or nominalion if it dc￿lI￿S that thc rcsulting grant would noi b¢ ¢haritsbl¢ or would
¢onfli¢t with the Foundation'8 s(aicd policie8.
Aehlevtrnents and ptrfom4ll¢e
Tbe RCIU Foundaliim c•ntinued ro ftsndrwise in support of the str•t¢8i¢ aims of RGU.
DurinB 2020lll donaiion5 wue rtceived from l99 illdividual donors. Mosl donaliuns rcccivcd wcre (rom RGU Blvmiii
and lh¢ IAtEe.81 donations received were rec¢ived fmm Tnjsix & Foundations.
Futtd$ were r¢c¢iv¢d In 5UPP)rt of..
Accc5s widcning participation and outrtach
The Annual Fund, lunrestricied fund)
The Chaplaincy
Gray's School of Art
Scholarships IAcccs5 & Meril. undew*duak & wJst8fadua*l
Sttldcni pri2e5
Student hardship fund I CovLd19 hardship fimd
Health & social care
SDJdent Expcrience and $¢ryi¢cs {Clubs. Societies. extra- curricular a￿1vity. travcl abroad ct¢.I
Student Seryiccs

RGU FOUNDATIUIY
TRUSTEES, REPORT {CON'TINWED)
FOR THE YEAR EfiDED 31 JULY 2021
Effects of Covid-19
The rtrects of thc global partdemic h8VC CTcat¢d a Challenging envimnmetLt for fundrw5ing. Whilsi there is a greater need
for philanthropi¢ support of studeni hardship. scholarship funds and swdenl seTViCeS donots remain cautious in their
8Lving. Durin¥ the year there w*5 a ilrop in the number of a]umni giving rcgularly to th¢ w)iversity and w¢r4] tnajor
donors paused Iheir givin¥.
Given the global recession and th¢ r¢sthciions that the paThdemic has placd on so¢i¢ty LE is unlikely that there will be a
Sl8niticatLt incTeAs¢ ph"lallihropi¢ in¢¢)me over the coming year.
The Foundation will ¢oniLnue to work on a piogramme of 5trwardshJp attd enga%emcni ufLwreni donors- d¢rnonslrèlLn
Ihe impA¢t of iheir supp)rt and ￿uring tha¢ they are fully engaged in Ihr a¢iiviry of the uniYcTsity. Th¢ RGU FouDd&tion
will work with RGU to pruduce a Compelling ca5¢ for support that need and imp￿1 and in$pir¢s
philanthropic givJn¥.
Flnan¢l¥l rtvlew
The surplus of inrom¢ over expendi￿re in the ¢wrent year £71.29212020 dcficii £55,?811. To￿1 ill￿me amounted
to £3211.94512Q20- £239,311) and cxpendiiur¢ amourbied 10 £249.65312020- £294.5921.
The Trustees PKbli¢y i$ io apply all fiujds rni8ed to suppffi advan¢emeni of education aL RGU. The ruDnitsg Cobts of the
RGU Foundolion llrc met Ihrou8h specific grani iti¢om¢ from RGU.
Rlsk manigemenl
Trusiees have iss¢ssed mlljor risk5 io whi¢h lh¢ Foulldatiou 1$ ¢XF*)scd and thr¢ sousficd tha¢ sys¢em$ are in plA¢e io
mitigate exp05uir to major risks.
Thc Tn￿1¢¢$ Are satisflcd ih41 RGU will coniinuc 10 fimd the ￿nn1Th￿ costs of ¢h¢ RGU Foutthtion for ai least 12 months
from Ihc date of this Rtpon.
Strutturel ¥ilVtrnan¢t #Dd manAgem¢ni
RGU frnundalion SC043673. The RGU Foundatiim w&$ res15tCT¢d ￿ charity SCIO 27th Deccrnber 2012. It 1$
8overned by ils Eon$iiiuiion.
Thc Slrucnl￿ of the Founddtion consists of mmbers who havc the abiliry lo appoini Thjsiees and lake dccisiuns on Ih
constituiion its¢lf and the board. who serve as the Trusrtts of the Fuundation.
The maximurn numb¢r of chanty trustees ts twenty. th¢ rninimum rturnb￿ of charity trusteu is thyee.
Al each AGM Ihc memb¢rs may elect any person who is cligiblc 10 be a cbarily trUSl¢c lullless hc or she is disqualified
by law frorn bcin8 a charity ¢ru$i¢¢ or an employ¢¢ of rhc RGU Foundation).
The board may at any tim¥ iPPDint atly person to b¢ addiliot)al ¢baniy trus1¢¢ fLII a vacaDry.
Ai all times the followinB should bc appointed 10 the board 95 trustrcs: th¢ Principal ofThe Rvbert Gordon Univcrsily
who shall bc chariry irustr¢ ex oJfJcio ai all lim￿.. a nominee and metnbcr of Th¢ Robert Gordon Univcrsity Board ai all
time5.
The suucturc of th¢ founddiioll coll5i$i$ of 11 the membus. who hav¢ th¢ Tight lo ancnd rnCTnbers' Meetin￿ liJi¢ludiDg
any annual general rneeting}, and have thc POW￿ under the conshDJiion TO appoini people to sttwE on the board 3Dd lake
d¢Eision% on chang&% io th¢ tonstitulion irself. and 2) the boar¢L who hold regular mettirb85 and g¢Thernlly TnanaKe thc
¥G¢iviti¢s orth< FokmdatLOEi. VoLitL¥ attd iernis olotric¢ arc 8ovcrncd by the constsmtio

RGU FOUNDATION
TRUSTEES, REPORT (CONTP4UED)
FOR THE YEAR EYDED 31 JULY 2021
REferenee Ind adrntnlstratlve Informatlon
Charity nlmt
RGU Foundation
Chftrlty number
SC043673
Regi51ered o(flte
Garth(l¢¢ House Annexe. GartlMJ¢e Row(L Al*rdcen, ABIO 7QB
Mcston Reid & Co. 12 Carthn Place, Abrrdeth, ABIO IUR
BJnkerJ
Bank of Scotland, 39 Albyn PIBCe, Abrrdccn, ABIO IYN
Soll¢ltor
Bumes5 Paull LLP, 516th floor. Union Plaz4 l Union W>Trd.ABIO ISL
TrTTftpr

RGU FOUNDATION
TRUSTEES, REPORT {covfpiuED)
FOR THE YL4R ENDED 31 JULY 2021
Siitement of tru51ccs' rdpon51bilitles
Thc m￿te¢l aT¢ r¢S￿nSible for pr¢p3Tin¥ the tnjsiees. rerrtKt and tht fJ]Mncial statrmcnts in ac¢ordartce with applicable
law and Utlited Kingdom ALcouDtip¥ Sr4ndard5 (LnLtrd Kin8dom Gellerdity AcwtedAc¢ounting Prncti¢e}.
In preparing these financial stat¢ment4 the tn]stees are requircd ￿.
- $eltei suitablc accounting policie5 and then wly them ¢ollsistenily.
- obscrv¢ th¢ methods and principlcs in th¢ Cb•iti¢s SORP..
. make judgemcnts aod ¢s(iMa￿ that are rvdsonabl¢ dtLJ pruden
- state whether applicable UK Attounting Swidards have E¢eD follow¢d. $ubjec¢ w any rna￿41 d¢parture5 disc105¢d attd
explained ij) th¢ financial siatements. and
. prepare ihe financial s￿l¢M￿￿ on the goin8 concern basis unless li is inapprrwiate ￿ prtsume thar the foundation will
Lontinue in op¢r41ion.
Th¢ tswsi¢e$ are re&pO￿lb1C for keepin8 adequaic accounting re¢ords thai disclose wilh rn$onoble accuracy al aijy time
the financial posiiioth of the fuundation. Thry 4r¢ #iso Tespon5iblc for safeguArdLng ihe a55Cts of the foundaiion dnd henre
ror takin¥ reH50Dabl¢ $icps for thc p[￿ntion and ddeciion of fraud dnd othu irt¢Bul2riiies.
Th¢ tyusl¢es' report was approv¢d by the Board of Trusiees.

RGU FUUhT)ATION
INDEPENDENT EXAmI￿ER's REPORT
TO THE TRUSTEES UF RGb FOiIYDATION
l TCPOrt on ¢h¢ fJn•n¢iAI ststcmcnts of the foundaiion for thc y¢Jr ended 31 July 2021, which are set out pages 6 to 16.
ReJpectAvc n5pottslbllltles of trustees and txaminer
Thp toundalion's trusttts are T¢.4ponsible the Preparauon of thc financial ststcments in a￿Ordanc¢ with ￿1¢ Icms of
the Charitics and Tnjstee Inves(meni (Scotlandl Act 2¢M)5 and the Charities Accounts Iscorlandl Regulations 2006 las
mended). The foundalioll's tnLsiees consider thai the audii iequiremthi tsf RegulaliLin 1011) (al ts) Icl of the ALcount8
Resulaiions does not apply. It 15 my rcsp)nsibility to ex4min¢ th¢ fiDan¢iil swemcnts &q required und¢r s¢¢tiort 4411) Ic)
of th¢ A¢1 ahd to state what pwticular mauers have comc to my attentson.
Busij ofindeptndtnt txamlner's report
My ¢xaminatien is carried out in accordance with Regulation I l of thc 2(Kk6 Accounts Rcgulaiiani. An exarnination
includcs a r¢view of the accounting record% kept by the chariiy and a comparison of the financial ststernen¢s p￿Sented
with those records. It a]sD includ¢5 ¢on$idcration of any uttusval It¢ms or diklosiJT¢S Jn Ihe finartcial siaiemettis, and
seeks explanaiions from iht ITUStets concerning any Such maitcrs. Thc PrKcth￿.% undcrtakcn do n(A provid¢ Bll thc
evidenic th41 would be required in an audit and ¢onsequenily T do noi express an audii opinion on Ihe view given by the
financial Statements.
Independent exgmlner J Jtlterntnt
Your atteniion 15 drawTr lo thc fa¢1 thai thc chariiy prepared fJDan¢iil Stai¢m¢￿¢S in a¢¢ordance wilh AcLounLing and
reportin¥ by Chariiics preparing their accounrs in accordan¢¢ with Ihc Financial Re￿)rting SiandaTd applirobl¢ in th¢ UK
nd Republic ut. Ireland {FRS 1021 in preference 10 the Acclbuniing and Rcporting by Charitie5.' Siaiement uf
RcLvmm¢Eidcd Prartsr¢ i5su¢d Dn l April 2￿5 wbi¢h 15 r¢ferT¢d ts) in the ex(ani regulations bui trLaS now bccn wiU)druwn.
l und¢rstand Ihol Ihi$ h&5 been donc in Order for ihe financial sratcmcnis to providc a trje and faiT view in accordance
with Gcncrally Ac¢¢pt¢d A¢¢ounting Pra¢ti¢¢ ¢¢l¢¢iiv¢ for periods begioning on OT after l January 2019.
In Lwnnection wilh my ¢%amiDatLOn. Do mitter has come ￿ my attention:
(al which gives mr rcLsothable L&use (o b¢li¢v¢ thi( maierial rcspecl the requ1￿ments,.
to kttp Attouniins record8 in Accordance with Section 44(1} la) of the 2005 Act and Regulation 4 of the
2006 AccounL% R¢gulaiioN%', artd
lill w prepare fLnancial staiemeots whi¢h o¢¢ord with rhe accouniing records gnd Comply wilh Re¥ul4tion 8 Lif
thr 2(N)6 Accoun¢s Regulations.
ve not been mei or
Ibl lu whtch, in my opiniL)n, ￿tellI10￿ shoutd be drawn in order 10 enable a proper understanding of the fjnancial
$IAtcmcntq In he rcached.
ChartCTed Accountanls
12 Carden Place
Aberdttn
ABIO IUR
24 |,,11,
M&STON
REID&CO
CHARTEREO ACCOUNTAIITS

RCU FOUNDATION
STATEMENT OF FtNANCTALAcrtVlTIES
INCLUDING IYCOME ATr4D EXPENDITURE ACCOLryT
FOR THE YEAR ENDED 31 JULY 2021
UTrTes¢rltted
fuhds
RÈ5trl¢ied
nds
Tots] Unrt5tr1cted
fund$
Rtstricted
fuDds
Total
2021
2021
2021
1020
2020
2020
Inrojnr frDm:
Dortaiiorts, grnnts and
legacie5
Investments
120.859
14
2(KJ.072
320.931
14
142,591
38
96.682
239.273
38
TotAI tntDme
120.873
21KI.072
320,945
142.629
96.682
239,31 I
Expendllure on:
Charitable &ciivities
124,098
125.555
249.653
147,284
147 J08
294,592
N¢t lexpendlturelllD¢ome for
the y¢&rl
N¢t muv¢mtnt futtds
13325)
74.517
71292
14,655
{50.626}
155,2811
Fund balanLe5 al l Au8USI
2020
39.194
182.646
221.840
43,849
233.272
277.121
Fund bgl#ntes 8¢ 31
July 2021
35.969
257.103
293,132
39,194
182,646
221.840

RGU FOUNDATION
BALANCE SHEET
ASAT3) JULY 2021
2021
2020
Current a55ets
Debtors
Cash a¢ bank and in hand
118.619
181,855
100.444
128,612
3(N).474
229.056
Crcdltor$'. falllDg due wlthln Ohe
year
io
(7.342)
17.216)
N¢1 Current as5¢ts
293,132
221.840
In¢ome funds
R¢siricicd fvnds
Unre8iriclcd fundJ
13
14
257.163
35.969
182,646
39,194
293.132
221,840
Ir Trustecs on.
Irujiee

RGU FOUNDATION
STATEMENT OF CASII FLOWS
FOR TIIE YEAR ENDED 31 JULY 2021
2•21
2020
Cash flu}y￿ frorn optratlng attiiititS
Ctsh ¥eneraied fTQtri optrnriorn
16
53.229
10.368
Inve5tlng *¢tlvltles
Tnv¢sim¢nl intume Teceiv¢d
14
38
Net ¢a$h generated from Invtsthil *etlvitles
14
38
Net ¢Ash U5L.d ID flnanclnt I¢d￿tIeS
N¢1 Increajt In ¢ash ATJd tqulvalenti
S3.243
10.406
Cash and equivaletLl8 at bcginning of year
128.612
118.206
Clih #nd cash ¢qulvAltnti •t ¢nd of yeir
181.855
128,612

RGU FOUNDATION
STATEMENT OF CASH FLOWS ICONTNUED)
FOR THETrTAR EYDED31 JULY2021
Crldcal Actountiag e5tlm4tE5 ¥Thd lud%ernents
In the applicatiotl of th¢ foundation'$ a¢¢ouriiing polJ¢ios. th¢ tsu81¢¢8 r¢quty¢d io mak¢jud¥¢mmts. estimat¢s 8nd
5sumprions aboui Ihe carying arnoun¢ of assets and liabiliti￿ that aT¢ not r¢adily apparEnt from other $4)tsrtes. The
estimates and assrtiated assumptions art b&sed on historical experience and oiher facinTS that are considered to be
relcvant. Actual Tcsults may diffcr from thuc t￿1￿**$.
The e5timat¢s attd underlying &%sumpiions are reviewed on an ongoing basis. Revisions to accounting estimatC5 are
reCo￿ls¢d in Ihc pcriod in whi¢h thc CS¢im4tc is rrv]scd whtre the rcvtsiots affects oll]y thar penod. or in thc period of
the revision and futUT¢ reriods wh¢r¢ th¢ r¢visioD aff¢¢ts both ¢llTr¢nt and fuWr¢ peri￿$.
Actountlng polleffies
Cnmp¥Dy Information
RGU Foundaiion is a Scoltish Charirable IncoTPOrntcd Owi$ation ISCIOI. li 1$ gov¢med by its coJJstituuon and
rccobinised Ès a chariry by thc oificc of the Scottish Chariry Rcgulaior.
2.1 Accounting conventlon
The finArt¢ial stttiements havc been prepared in accordince wth the foundniion's constityjtion, th¢ Ch8nti¢$ attd
Tn￿leC Inve5¢m¢nl IScoilaThdl 2D05. Ch#riiies Accounts (Scoilandl RegulauonB 2006 las am¢nd¢dl and
"AILouniing and Rwrting by Chariu¢s.' Stsi¢m¢nl of Rryi>mtncndd Pr4lic¢ applicable 10 charilies prLpdrinx Iheir
lrcounis in accordance wilh the Financial Reportin8 Standard applicable in th¢ UK Republic of Ireland IFRS
1021" la5 amcndcd for a¢¢owiiin8 period8 commencing from l January 2019). The foundaiiLin is a Public Bcncfit
Entiiy a% defincd by FRS 102.
The financial ststements are prcpared in 5tcrling. which 15 thc fun¢tional ¢un¢n¢y of the fowidation. Monetary
amourt¢s its the5¢ fit*ath¢ial slatemenia are rLwthded io the nearesi L
Thc finan¢iJl $iat¢m¢thi$ h8v¢ been Prepaffd under the himorical e051 convention. The principal accounting policies
adopted arc sci out below.
2.2 Golrtg ¢onrer
Ai Ihc time of approving the financial Stslement4 the tru5tee5 havr a rca50nable ex￿(la￿on thai the foutmiation h&$
lldequate rcsources lo ¢onlirtUC Lrt op¥rntioDal existence for ihc for¢s¢￿ble future. the t￿￿tCCS conlinuc to Hdopl
the going concern bssis of ac¢ountin¥ in PT¢p8ring th¢ fLnancial 5thiemen￿.
2J Ch*rltttbl¢ fuhd$
Unrestnctcd funds are available for vse 4t thc dis¢r¢tion of th¢ trustees in fvrth¢r8ncc of their chaTi(Able objcclives
unless the fundy have been d¢signar¢d for other PUTW)5¢s. The unr¢$tri¢*d filttds have been analysed in noie 14 10 the
rJDattcJal s(alements.
Restricled funds arc subject to specifjc fQD(tition5 by ￿k)r￿r$ a5 trj how they may be used. The Purposes and u5C5 of the
restrctcd funds are sel oui its notE 13 to thc flnancial Stslcmcnts.
2.4 Income
Income is Trfognis¢d when the fixLndalion is legally eniiiled th li after any perlornjancc conditions have been mel. tht
amounts Can b¢ measured reliably. and il is probablc thai itscomc wyll bc reccivcd.
Donations are recognised i)ncc the foutulati¢Jn ha5 bE¢n notifjd of thc donalion, uttlts8 perforn)ance condition5
r¢quir¢ deferral of the amouni. Income tax Ttcovcrablc in rclarion to donation5 reccivd vnder Gift Aid or deed5 of
cov¢nant l5 rccognised al the lime of the donation.
L¢¥a¢i¢s are recoBnised on receipt or othcThtyise if the foundation has notified of an impending distribution, the
amount is knowm, and ￿eciPI is cxpected. If the amouni is not known, the legacy is treatcd 25 a contingent asset.

RGU FOUNDATIO
NOTES TO THE FINAYCIAL YfATEMENTS
FOR THE YEAR ENDED 31 JULY 2021
Ar￿￿￿tIng polici
Iconlinuedl
Donaied s¢rviccs atld fa¢dities are includd al the va]ue ¢0 the ¢han'ty whcrc this ¢an be quaniified. Tbe vaiuE or
services provided by volunt¢¢rs h&8 not bcLm Includ￿ in these accowJTS.
Grant iDCOtne for core activities is crediied ID th¢ Slaleme￿i of Fill￿¢1a1 Aciiwtics whett il is receiw8ble.
Investment incom¢ iy included wb¢n wivablc.
2.5 Expendltur¢
Exptndinirt is rccognised on an accruals basis a liability is incurred. Ex￿din￿¢ inc]￿Je5 VAT which canpoi be
recovered. and J& reported as part ofthe expendinw¢ io wkn.ch li relat¢s.
Co%ts of ¢h4riiable activili¢s eompriscs thc ￿￿CIa(Cd with the foundaiion's Principal a¢tivitics and are
accountcd for when payable, In addiiion. 8ovenwic¢ cosi& which repr¢seni ¢Xpend1w￿ #ssociatcd with meeting Th¢
¢OQSIiDJtional rcquirements of the foundation. and include audit fec5 ¢osts linked io the straie8ic nwjagemeni of
Ihc loulldulion. are Includ¥d in the costs of Ehari¢abl¢ ex￿nditUre.
AII ¢OS15 ure allolaid beNcen thc cxpcnditute cateKoTi¢S of the Stsicjneni of FiDAnciaJ Aclivilieb on a basi5 dcsi8ned
tv refl￿[ the usc of lh¢ resource. Cos¢s relaiing to a particular aciiviiy are Allor#i¢d directly,. others are appDrtion¢(l on
an appropriiie basib a5 sd i)ui in the no￿ 10 th¢ fuwicial sta*metyts.
2.6 Tanglblt fixed 4sstt$
Capital expendiNr¢ is charged tts the StskmeRI of Fin•n¢ial Aci1viti￿ Is in¢urTed provided the Cx￿nd3￿re is regular
nd is rttri excLpuonally lar¥e ill any one y¢ai.
2.7 Calh and clih eqylv*ltnts
Cash and cush cqujvalellts iDrlu¢k ¢ash in hand. dq￿lts held ai ¢411 with barths. other short-lemi liquid invc5ttn¢t>ts
wilh oris7inal mawriiies of ihrcc monthx or l¢ss. and bDnk overthafts. Bank overdrnfts 4re shown withirt borrowing5 in
curmi liabilitics.
2.8 FlnaA¢l#l Instrnmtnt5
Th¢ fo4Lniiaiion has ¢l¢cted trj apply the provi$ions of S¢¢tion I I 'Basic FiTWLcial InstNm¢nts' and Scctiott 12 '0th¢T
Financial InsinLments Issu￿. ofFRS 102 ￿ all ofits fJnan¢ial irh5truments.
Financial instrum¢nts sr¢ recognis¢d in the foundaiion'$ ba]au¢e shttt then ihc fouttdation becom¢s party lo the
contra¢tuBI provisions o(th¢ insrrnmenl.
Firtancial a55¢ts and liabiliiic5 wre offsei. with th¢ net amounts preseiited in th¢ fiTWLcial siatcm¢nts. whcn thcrc is a
legally ¢nfurceabl¢ righi 10 sei L)tl'the ￿¢08th1$td amoufjLS and thcrc is 4tL inienuon io seide on a n¢t basis or lo reJlise
Ihe a55el and seiiic Ihc liabslkry sJmultaneou51y.
BtuicJ7n4n¢i41 assets
Basic fjnancial 355els, which include d¢MDrs Ind and bank b￿anCeS. are iniliBlly MeasU￿d ai tyansaclion prAcc
including transaction costs and are sllbsequentjy caryi¢d ai amortised cosi using th¢ ¢lTteiive int¢rcsi rnethod unless
Ihc arrangement consiilulcs a fJnancin8 tratLsaclLon, wh¢te the ￿anSaction is M￿Sured ai Ihe PT¢Sent valtse of th¢
future reieipts discounicd at 4 m&Tkd rnic of iDl¢lt6I. Fin$￿ial &ssets cla551fied as rueivable WLthin ouc y¢ar 8r¢ nol
amortised.
io-

RGb' FOUNDATIO
NOTES TO THE FINANCIAL sfATEMEi¥rs IcowrtYUED)
FOR TEtE YEAR ENDED 31 JULY 2021
At¢ountlDg poliries
ICuntlllu¢dl
BosicfiNancial I1￿￿Ul*¢.$
Basi¢ fJttan¢i&l liabilities. including Creditors and bank loan5 &re initially Tecognised at tran8&ction price unless ihc
arrangern¢nt cortstinJte8 a fin2ncin8 transaction. where the debt instsumeot is Me￿￿red ai the preseni value of th¢
future Tcceipts di%ount¢d at a markd rdtr of illtcrcsl. Fir￿￿¢1￿ liJbJlJtiu classifi¢d ￿ ￿Y￿ble within onc year arc not
morti$¢d.
Debi instruments are subvquently unied ai amortised COSL using the effective lut¢r¢￿ rair m¢thiMI.
Trade ¢r¢diiors are oblisations ¢0 pay for 8oods or SCTViC¢$ thai havc been aCqUiTcd in the ordinary course of
opcration5 from suppliers. Amourtis payable ate tlassifLed &% current li8biliiies ifpaymeni Is due within one year or
le55. If not. thcy are pr¢Sett￿ •% oonrfurreni liabilities. Trade ¢rediiors are re¢ogrtis&l initially ai trA￿￿110n price and
subs¢quetstly me&8ured ai Amortiscd lost ￿1n8 Ihe cffcciive iniercst mcthLWJ.
Financial liiibiliri¢5 are derecognised when th¢ foundation's contracDJal obligations expire or aTe dischar8ed or
cancelled.
2.9 RètirÈment benellti
The foundation OP¢Talcs a defind Conlributions p¢nsion s¢h¢m¢. Contribuiion$ ￿ ¢har8¢d in the accounts a5 th¢y
brrom¢ puyablc in accordance with the rnies of the schcmc.
DonAtlonJi grxnt5 *nd1¢8*tl
Unrestrlcted
nds
Rtstrbtted
ds
T￿(*1 Unre5tTlrted Reslrlcted
fvndj
Tht41
2021
2021
2021
2020
2020
2020
Donations and 8ifts
Grant received frorn The
Robert Gordon Uni¥cTSity
11.264
200,072
211,336
6.658
96.682
103,340
109,595
109.595
135,933
135.933
120,859
200,072
320,931
142,591
96,6112
239,273
Invejtmenti
UDre5trlcted
fuThd5
Restrfcted
fund5
Total Unrestrlcted RestrlctL,d
fuhds
funds
TotAI
2021
2021
2021
2020
2020
2020
Interesi receivable
14
14
38
38
14
14
38
38

RGU FOUNDATION
NOTES TO THE FIPI'ANCIAL STATEMENTS {COWTifibEDI
FOR THEYEAR ENDED 31 JULY2021
Charitable a¢tivi¢le5
Unrtstricted Rutiicted
fund5
2021
Total Unr¢sttlcted R¢stritted
f￿ndS
funds
20211
2020
Total
2021
ZQ2l
2020
Stsff costs
Donations tu The koben
Gordpn UniveT511y
Prop¢ry costs
Tiattsport CU5ts
Athinistratson #nd suiyt
Lebial and professional fecs
Bank Char￿¢$ ond interes(
Other churitabl¢ exwdiiw¢
88.017
88.017
88.994
88,994
6.693
5.655
125.023
131,716
5,655
11.648
18,772
169
17.190
10.127
147.308
158,956
1¥,772
169
17,190
10,127
384
15.492
7.820
421
15.492
7.820
421
532
532
124,098
125.555
249,653
147,284
147.308
294,592
Legal an¢J profe55ional f¢¢s includcs independ¢ni ¢xamirt¢r remunerntion of £3,6[￿) (2020- £6.0001.
Trutste
The Irusieeh r¢cciv¢ no remun¢T4Jlion frum the foundation. As laid dowrt in the foundytion'b constituiiun. Irubtc¢è inay
bc paid Iravelling and other cxpcn5C5 rtssonably incurr¢d by them in ¢onn¢ciion with Carrying out their dutics; tiiis
may include ¢xpenbCS ￿1￿lIn8 10 ihtjr ai¢cndan¢e at mttiin85
Thc Injstecs mllde un¢onditioThal don￿10￿5 of £3￿12020- £430) duritt8 the ye￿.
Employeei
Number of ¢mploye
Thc av¢ra¥¢ mo￿thIY numb¢r of employecs duriD¥ thc Y￿ vras..
2021
Number
2Tr20
Number
Administration #nd support
F.mploymcnt Ewtj
21121
2020
Wagcs And salaries
Social s¢ruriry COSts
Oihtr ￿n$lun cosis
Staff suP￿rt servir¢s
60.907
1,981
11,755
13,374
61.133
2,¥87
11,799
13.175
88.017
R8,994
There were no etnployees whos¢ al￿￿al Twnuneralion £60.0(Kl or tnore.
12_

RGU FOUNDATION
NOTES TO THE FINANCIAL STATEMEP4TS (CONTI￿UED)
FOR THE YEAR ENDED 31 JUI.Y 2021
Tax•tlon
Th¢ foundation is exempi from lax on irbcome and gains fa]ling within Section 505 of th¢ In¢ome and CorporaLion
Taxes Aci 1988 er Seciion 256 ofthe Taxaiion of Char8eable Gains Act 1992 ro th¢ cxtrnt that these are applied to its
charitablc objccts. No lax ¢haTg¢s h8v¢ ari%cr) irt thc found•tion.
Debtors
2011
2020
Amounts filling due wlthln ont ye•r:
Prepa￿entS and income
76.710
63,204
2021
2020
Amounts f4lllng dur fifter more th&Tr one yur:
PrepaymenLs and acfflied income
41.909
37.240
Total debtors
100,444
10 Credlttsri: amoun¢$ fxlling due Mthin on¢ >¢gr
2021
2020
Trade CTtditOT%
Other crcdilors
Accnjals and dcfcrrcd income
319
1.024
5,999
25
1.027
6.164
7.342
7.216
11 Limlttd Ilabllity
Th¢ m¢mb¢rs of th¢ foundation hJv¢ no liability to pAy ¥Dy sunJ to h¢lp ￿ m¢¢t the debts (or othcr liabiliticBI of thc
foundHlion if it is wound up. At 31 July 2021 there were 3 rncmber5 {2020- 3}.
12 Rettremellt benellt schemes
Deflned contrlbutlott 5cherne5
The foundation operates a defind contribution pension schemc. The of thc schcm¢ are h¢ld 8epllra*ly from
Ihuse of the fouttdalion in an independenily administered fund. The pen%ion cosi charge repT¢5¢n¢5 contribulion$
pay4bl¢ by the foundation lo Ihe fund and amountcd ¢0 £11,755 12020- £11,799}. ContrJbuiion5 loialing £nLI12020-
£nil} werc payable to Ihe fijnd at th¢ yr8r end.

r4 C
00￿*nO￿O
p4 r4
Iiijj&'
u o o

RGU FOUNDATION
NOTES TO THE FINANCIAL STATEME1￿s (COTITINUED)
FOR THE YEAR EYDED 31 JULY 2021
14 Unrestricted fynds
Th¢ utLresui¢ted funds of the foundaiion ￿ b¢ 4ualysed u follows:
Molemeni In funds
Incotntttg Resourct
rttourceJ
¢%pended
loi'erntnt in funds
Intomlllg Resovrets B814ncc At
50ur¢¢&
expend
31 July
2021
B*lAn¢e It
J August
2020
l Au¥uJt
zoz•
RGU grant
Oihcr funds
29.249
14.600
135,933
6,696
{l35.6361
111,6481
29.546
9.648
109,595
11.278
1117,405)
(6,6931
21,736
14,233
43,849
142.629
{147.2841
39.194
120.873
1124.0981
35.969
Each y¢Ar lh¢ charity reccivcs grant i￿ome frorn The Robert Gordon Universiry to fund lis opernting costs. Thi$ 8rant
in¢ome enablc% thr £hority 10 donaic ¢v¢ry £1 that is raised io the university.. In mosl year5 atly unspeni grant income is
repaid io th¢ wjiversiiy. For the lasi flve years. th¢ temi& of the ¥rwi¢ fvndLn8 changed ¢Thabl￿8 thc ch4Tiry to relain the
underspend, Grant funding th41 hAs been retained by the Foundaiion will b¢ used ¢0 address oper41ional prionTits in
daiA managcTncnr, dir¢ci one-lbmr fiuthai81118 costs. and dev¢lopmeni of a mulii-ye4r fvndrai4iD8 plon.
Each ycar urtrestricied donationj ￿ rrfcivcd from donors. This fithd represents doDaiion$ receLved bui noi yL't paid
over to the univw¥ity.
IS An*lysiJ of net 11sseis b¢twten fwnd¥
Utsrti¢ri¢t¢d
fuDdi
2021
Rutrlcttd
fund5
2021
lot•1
UMr¢strl¢ltd
Re51rlcttd
ruDd$
2020
10101
2021
2020
2020
Fund balan¢¢s ai 31
July 2021 arc
rcpresent¢d by..
Curr¢nl 0$setsllliabiliii¢sl
35,969
257,163
293,132
39,194
182,646
221,840
35,969
257.163
293.132
39,194
182,646
221,840
16 C*gh generated from optr#iloD5
2021
2020
Surpluslld¢ficiti thc ycar
71,292
155.21111
Adjusth￿L1$ tor..
Investment iftcome recognised in statcmrnt of finan¢iaJ actiwties
{14)
(38)
Mov¢m¢nts in workillg capityi-
(Incr¢￿e)Ide¢rea￿ in debtor5
Incred￿{decrease} in rrethio
118,175)
126
65,936
12491
CA5h generated from operation$
53,229
10.368
16_