Caseware UK (AP4) 2022.0.179 2022.0.179 2023-07-312023-07-31falsefalse2022-08-0119false 06252886 2022-08-01 2023-07-31 06252886 2021-08-01 2022-07-31 06252886 2023-07-31 06252886 2022-07-31 06252886 2021-08-01 06252886 1 2022-08-01 2023-07-31 06252886 1 2021-08-01 2022-07-31 06252886 d:Exceptional 2022-08-01 2023-07-31 06252886 d:Exceptional 2021-08-01 2022-07-31 06252886 e:CompanySecretary1 2022-08-01 2023-07-31 06252886 e:Director1 2022-08-01 2023-07-31 06252886 e:Director2 2022-08-01 2023-07-31 06252886 e:Director3 2022-08-01 2023-07-31 06252886 e:Director4 2022-08-01 2023-07-31 06252886 e:RegisteredOffice 2022-08-01 2023-07-31 06252886 e:Agent1 2022-08-01 2023-07-31 06252886 d:CurrentFinancialInstruments 2023-07-31 06252886 d:CurrentFinancialInstruments 2022-07-31 06252886 d:Non-currentFinancialInstruments 2023-07-31 06252886 d:Non-currentFinancialInstruments 2022-07-31 06252886 d:CurrentFinancialInstruments d:WithinOneYear 2023-07-31 06252886 d:CurrentFinancialInstruments d:WithinOneYear 2022-07-31 06252886 d:RetainedEarningsAccumulatedLosses 2022-08-01 2023-07-31 06252886 d:RetainedEarningsAccumulatedLosses 2023-07-31 06252886 d:RetainedEarningsAccumulatedLosses 2021-08-01 2022-07-31 06252886 d:RetainedEarningsAccumulatedLosses 2022-07-31 06252886 d:RetainedEarningsAccumulatedLosses 2021-08-01 06252886 e:FRS102 2022-08-01 2023-07-31 06252886 e:Audited 2022-08-01 2023-07-31 06252886 e:FullAccounts 2022-08-01 2023-07-31 06252886 e:CompanyLimitedByGuarantee 2022-08-01 2023-07-31 iso4217:GBP xbrli:pure
Registered Number:06252886













UNIVERSITY CENTRE WEST ANGLIA
(A Company Limited by Guarantee)






FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2023











 
UNIVERSITY CENTRE WEST ANGLIA
 
(A Company Limited by Guarantee)
 

 
COMPANY INFORMATION


Directors
D B Pomfret (Chairman) 
P W Bogle 
M I K Norrish 
K E Heathcote 




Company secretary
P W Bogle



Registered number
06252886



Registered office
Bishop Hall Lane

Chelmsford

Essex

CM1 1SQ




Independent auditor
SB Audit LLP
Chartered Accountants & Statutory Auditor

820 The Crescent

Colchester Business Park

Colchester

Essex

CO4 9YQ




Bankers
Barclays Bank PLC
40-41 High Street

Chelmsford

Essex

CM1 1BE




Solicitors
Mills & Reeve
Botanic House

98-100 Hills Road

Cambridge

CB2 1PH






 
UNIVERSITY CENTRE WEST ANGLIA
 
(A Company Limited by Guarantee)
 


CONTENTS



Page
Directors' Report
1 - 3
Independent Auditor's Report
4 - 8
Statement of Comprehensive Income
9
Balance Sheet
10
Statement of Changes in Equity
11
Statement of Cash Flows
12
Notes to the Financial Statements
13 - 17



 
UNIVERSITY CENTRE WEST ANGLIA
 
(A Company Limited by Guarantee)
 

 
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 JULY 2023

The directors present their report and the financial statements for the year ended 31 July 2023.

Principal activities and business review

University Centre West Anglia (UCWA) (formerly University Centre Kings Lynn) is a charitable company limited by guarantee, a joint venture company of Anglia Ruskin University and the College of West Anglia. The principal activity of the company in the year under review was to offer higher education courses to students in West Anglia.
Risk and future developments
The company has been set up to facilitate growth and development of Higher Education to the north west of our region in the East of England. It builds on the long established collaboration between its member institutions of Anglia Ruskin University and the College of West Anglia.
Public benefit
For taxation purposes the University Centre West Anglia is a charitable company. The Charity Commission’s guidance on public benefit states that two main principles must be adhered to. The relevance of the activities of University Centre West Anglia to these principles are set out below:
Principle 1: There must be an identifiable benefit or benefits:
Our role is to equip students with the intellectual wherewithal which will serve them throughout their professional lives. We are passionate about the advancement of knowledge and the education of students. We take university education in imaginative new directions. Our key contribution is to the enhancement of social, cultural and economic well being.
Principle 2: Benefit must be to the public or section of the public:
We provide public benefit by educating students.
Results
The company made a surplus of £11,519 (2022: £14,967) for the year as shown on page 9.

Directors

The directors who served during the year were:

D B Pomfret (Chairman) 
P W Bogle 
M I K Norrish 
K E Heathcote 


- 1 -



 
UNIVERSITY CENTRE WEST ANGLIA

(A Company Limited by Guarantee)
 

 
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2023


Directors' responsibilities statement

The directors are responsible for preparing the Directors' Report and the financial statements in accordance with applicable law and regulations.
 
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Company and of the profit or loss of the Company for that period.

 In preparing these financial statements, the directors are required to:


select suitable accounting policies for the Company's financial statements and then apply them consistently;

make judgments and accounting estimates that are reasonable and prudent;

prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the Company's transactions and disclose with reasonable accuracy at any time the financial position of the Company and to enable them to ensure that the financial statements comply with the Companies Act 2006They are also responsible for safeguarding the assets of the Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Directors' indemnity

Throughout the year there was an indemnity insurance policy in place covering the indemnity of the directors of the company.

Disclosure of information to auditor

Each of the persons who are directors at the time when this Directors' Report is approved has confirmed that:
 
so far as the director is aware, there is no relevant audit information of which the Company's auditor is unaware, and

the director has taken all the steps that ought to have been taken as a director in order to be aware of any relevant audit information and to establish that the Company's auditor is aware of that information.


- 2 -



 
UNIVERSITY CENTRE WEST ANGLIA

(A Company Limited by Guarantee)
 

 
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2023

Auditor

Our auditors Scrutton Bland LLP transferred their audit registration and therefore that part of their business to a newly incorporated limited liability partnership, SB Audit LLP, on 1 April 2023. Accordingly Scrutton Bland LLP formally resigned as the Company's auditor with the Directors duly appointing SB Audit LLP to fill the vacany arising.
The auditor, SB Audit LLP, will be proposed for reappointment in accordance with section 485 of the Companies Act 2006.

Small companies note

In preparing this report, the directors have taken advantage of the small companies exemptions provided by section 415A of the Companies Act 2006.

This report was approved by the board on 21 November 2023 and signed on its behalf.
 





P W Bogle
Director


- 3 -



 
UNIVERSITY CENTRE WEST ANGLIA
 
(A Company Limited by Guarantee)
 

 
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF UNIVERSITY CENTRE WEST ANGLIA

Opinion


We have audited the financial statements of University Centre West Anglia (the 'Company') for the year ended 31 July 2023, which comprise the Statement of Comprehensive Income, the Balance Sheet, the Statement of Cash Flows, the Statement of Changes in Equity and the related notes, including a summary of significant accounting policiesThe financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).


In our opinion the financial statements:


give a true and fair view of the state of the Company's affairs as at 31 July 2023 and of its profit for the year then ended;
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
have been prepared in accordance with the requirements of the Companies Act 2006.


Basis for opinion


We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the Company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.


Conclusions relating to going concern


In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.


Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.


Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.



- 4 -



 
UNIVERSITY CENTRE WEST ANGLIA

(A Company Limited by Guarantee)
 

 
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF UNIVERSITY CENTRE WEST ANGLIA (CONTINUED)

Other information


The other information comprises the information included in the Annual Report other than the financial statements and  our Auditor's Report thereon.  The directors are responsible for the other information contained within the Annual Report.  Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated.  If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves.  If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.


We have nothing to report in this regard.


Opinion on other matters prescribed by the Companies Act 2006
 

In our opinion, based on the work undertaken in the course of the audit:


the information given in the Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
the Directors' Report has been prepared in accordance with applicable legal requirements.


Matters on which we are required to report by exception
 

In the light of the knowledge and understanding of the Company and its environment obtained in the course of the audit, we have not identified material misstatements in the Directors' Report.


We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:


adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
the financial statements are not in agreement with the accounting records and returns; or
certain disclosures of directors' remuneration specified by law are not made; or
we have not received all the information and explanations we require for our audit; or
the directors were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies' exemptions in preparing the Directors' Report and from the requirement to prepare a Strategic Report.



- 5 -



 
UNIVERSITY CENTRE WEST ANGLIA

(A Company Limited by Guarantee)
 

 
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF UNIVERSITY CENTRE WEST ANGLIA (CONTINUED)

Responsibilities of directors
 

As explained more fully in the Directors' Responsibilities Statement set out on page 2, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.


In preparing the financial statements, the directors are responsible for assessing the Company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the Company or to cease operations, or have no realistic alternative but to do so.



- 6 -



 
UNIVERSITY CENTRE WEST ANGLIA

(A Company Limited by Guarantee)
 

 
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF UNIVERSITY CENTRE WEST ANGLIA (CONTINUED)

Auditor's responsibilities for the audit of the financial statements
 

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditor's Report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.


Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

We identified areas of laws and regulations that could reasonably be expected to have a material effect on the financial statements from our general commercial and sector experience, through discussion with the directors (as required by auditing standards), inspection of the companies regulatory and legal correspondence and discussed with the directors the policies and procedures regarding compliance with laws and regulations. We communicated identified laws and regulations throughout our team and remained alert to any indications of non-compliance throughout the audit.
The potential effect of these laws and regulations on the financial statement varies considerably.
Firstly, the company is subject to laws and regulations that directly affect the financial statements including financial reporting legislation and taxation legislation and we assessed the extent of compliance with these laws and regulations as part of our procedures on the related financial statement items.
Secondly, the company is subject to many other laws and regulations where the consequences of non compliance could have a material effect on amounts or disclosure in the financial statements, for instance through the imposition of fines or litigation. We identified the following areas as those most likely to have such an effect:
UK Visa and Immigration requirements, requirements of the Office for Students, health and safety legislation,
safeguarding, employment law, information technology, GDPR and specific accreditation required for courses.
Auditing standards limit the required audit procedures to identify non-compliance with these laws and regulations to enquiry of the directors and other management and inspection of regulatory and legal correspondence, if any.
Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.


A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditor's Report.



- 7 -



 
UNIVERSITY CENTRE WEST ANGLIA

(A Company Limited by Guarantee)
 

 
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF UNIVERSITY CENTRE WEST ANGLIA (CONTINUED)

Use of our report
 

This report is made solely to the Company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006Our audit work has been undertaken so that we might state to the Company's members those matters we are required to state to them in an Auditor's Report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and the Company's members, as a body, for our audit work, for this report, or for the opinions we have formed.





Timothy O'Connor (Senior Statutory Auditor)
  
for and on behalf of
SB Audit LLP
 
Chartered Accountants
Statutory Auditor
  
820 The Crescent
Colchester Business Park
Colchester
Essex
CO4 9YQ

28 November 2023

- 8 -



 
UNIVERSITY CENTRE WEST ANGLIA
 
(A Company Limited by Guarantee)
 

 
STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 JULY 2023

2023
2022
Note
£
£

  

Turnover
   3, 4
1,605,449
2,209,400

Gross profit
  
1,605,449
2,209,400

Staff costs
 6 
(768,694)
(1,042,548)

Student bursaries and scholarships
  
(86,400)
(110,200)

Other operating expenses
  
(746,794)
(1,042,994)

Operating profit
  
3,561
13,658

Interest receivable and similar income
 5 
7,958
1,309

Profit before tax
  
11,519
14,967

Profit for the financial year
  
11,519
14,967

There were no recognised gains and losses for 2023 or 2022 other than those included in the statement of comprehensive income.

There was no other comprehensive income for 2023 (2022:£NIL).

The notes on pages 13 to 17 form part of these financial statements.


- 9 -



 
UNIVERSITY CENTRE WEST ANGLIA
  
(A Company Limited by Guarantee)
REGISTERED NUMBER:06252886


BALANCE SHEET
AS AT 31 JULY 2023

2023
2022
Note
£
£

  

Current assets
  

Debtors
 8 
129,700
148,026

Cash at bank and in hand
 9 
145,465
46,266

  
275,165
194,292

Creditors: amounts falling due within one year
 10 
(206,298)
(136,944)

Net current assets
  
 
 
68,867
 
 
57,348

Total assets less current liabilities
  
68,867
57,348

  

Net assets
  
68,867
57,348


Capital and reserves
  

Profit and loss account
  
68,867
57,348

  
68,867
57,348


The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 21 November 2023.




P W Bogle
Director

The notes on pages 13 to 17 form part of these financial statements.


- 10 -



 
UNIVERSITY CENTRE WEST ANGLIA
 
(A Company Limited by Guarantee)
 


STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 JULY 2023


Profit and loss account
Total equity

£
£


At 1 August 2021
42,381
42,381



Total comprehensive income
14,967
14,967



At 1 August 2022
57,348
57,348



Total comprehensive income
11,519
11,519


At 31 July 2023
68,867
68,867


The notes on pages 13 to 17 form part of these financial statements.


- 11 -



 
UNIVERSITY CENTRE WEST ANGLIA
 
(A Company Limited by Guarantee)
 


STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 JULY 2023

2023
2022
£
£

Cash flows from operating activities

Profit for the financial year
11,519
14,967

Adjustments for:

Interest received
(7,958)
(1,309)

Decrease/(increase) in debtors
15,448
(7,987)

Decrease/(increase) in amounts owed by groups
2,878
(6,030)

Increase/(decrease) in creditors
494
(30,010)

Increase in amounts owed to groups
68,860
41,066

Net cash generated from operating activities

91,241
10,697


Cash flows from investing activities

Interest received
7,958
1,309

Net cash from investing activities

7,958
1,309


Net increase in cash and cash equivalents
99,199
12,006

Cash and cash equivalents at beginning of year
46,266
34,260

Cash and cash equivalents at the end of year
145,465
46,266


Cash and cash equivalents at the end of year comprise:

Cash at bank and in hand
145,465
46,266

145,465
46,266


The notes on pages 13 to 17 form part of these financial statements.


- 12 -



 
UNIVERSITY CENTRE WEST ANGLIA
 
(A Company Limited by Guarantee)
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

1.


General information

University Centre West Anglia is a charitable company limited by guarantee, a joint venture company of Anglia Ruskin University and College of West Anglia. Its registered number is 06252886. The company's registered office is Bishop Hall Lane, Chelmsford, Essex, CM1 1SQ.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

The directors are of the opinion that there are no significant judgements or estimates applicable to the financial statements other than the holiday pay accrual as required by FRS102.

 
2.2

Revenue

Income from Tuition fees is recognised net of fee waivers, in the income and expenditure account over the period in which the students are studying and includes all fees payable by students or their sponsors. Bursaries and Scholarships where payment is conditional upon academic progress, are accounted for on a gross basis as expenditure and included within operating expenditure. Income from grants contracts and other services rendered is included to the extent the conditions of the funding have been met or the extent of the completion of the contract or service concerned. All income from short term deposits is credited to the income and expenditure account in the period in which it is earned.

 
2.3

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. The company only has financial assets and financial liabilities that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.


- 13 -



 
UNIVERSITY CENTRE WEST ANGLIA
 
(A Company Limited by Guarantee)
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

2.Accounting policies (continued)

 
2.4

Taxation

University Centre West Anglia is an exempt charity within the meaning of the Charities Act 2011 and as such is a Charity within the meaning of Part 11 of the Corporation Taxes Act 2010. Accordingly, University Centre West Anglia is potentially exempt from taxation in respect of income or capital gains received within categories covered by Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992 to the extent that such income or gains are applied exclusively to its charitable purposes.
University Centre West Anglia receives no similar exemption in respect of Value Added Tax.

 
2.5

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.


3.


Tuition fees

2023
2022
£
£



Full-time students
1,455,793
1,979,143

Part-time students
-
8,490

Degree apprentice
19,156
18,967

1,474,949
2,006,600


4.


Funding body grants

2023
2022
£
£



OFS core teaching grant
52,300
97,800

OFS widening participation
78,200
105,000

130,500
202,800


- 14 -



 
UNIVERSITY CENTRE WEST ANGLIA
 
(A Company Limited by Guarantee)
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

5.


Interest receivable

2023
2022
£
£


Other interest receivable
7,958
1,309

7,958
1,309


6.


Employees

2023
2022
£
£

Staff brought in from CoWA - academic and administrative
768,694
1,042,548

768,694
1,042,548


The average monthly number of employees, including the directors, during the year was as follows:


        2023
        2022
            No.
            No.







Academic
15
13



Administration
6
6

21
19


7.


Other operating costs

2023
2022
£
£



Auditors' remuneration
3,900
3,900

Shared service costs ARU
288,600
419,800

Shared service costs CoWA
288,600
419,800

Direct non-pay academic costs CoWA
151,898
209,900

Other contracted and professional fees
2,016
1,944

Other costs
11,780
(12,350)

746,794
1,042,994


- 15 -



 
UNIVERSITY CENTRE WEST ANGLIA
 
(A Company Limited by Guarantee)
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

8.


Debtors

2023
2022
£
£

Due after more than one year

Trade debtors
6,940
10,320

6,940
10,320

Due within one year

Trade debtors
65,972
83,457

Amounts owed by group undertakings
50,975
53,853

Other debtors
5,813
396

129,700
148,026



9.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
145,465
46,266



10.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
835
535

Amounts owed to group undertakings
109,926
41,066

Other creditors
95,537
95,343

206,298
136,944



- 16 -



 
UNIVERSITY CENTRE WEST ANGLIA
 
(A Company Limited by Guarantee)
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

11.


Related party transactions

Throughout the year to 31 July 2023 Anglia Ruskin University Higher Education Corporation (ARU) and the College of West Anglia (CoWA) were related parties of University Centre West Anglia, with each entity having voting rights. During the year to 31 July 2023 the following transactions took place between University Centre West Anglia and its related parties.


ARU 2023
ARU 2022
CoWA 2023
CoWA 2022
£
£
£
£

Staff costs - Note 6 (excluding holiday accrual)
-
-
777,182
1,042,548
Shared service costs - Note 7
288,600
419,800
288,600
419,800
Direct Non-Pay Academic Costs
-
-
151,898
209,900
Other
-
-
8,633
10,374
288,600
419,800
1,226,313
1,682,622

At 31 July 2023 the amount owed to University Centre West Anglia by ARU was £50,975 (2022: £53,853)
At 31 July 2023 the amount owed by University Centre West Anglia to CoWA was £109,926 (2022: £41,066)
There were no other related party transactions during the year to 31 July 2023.
University Centre West Anglia receives its OFS grant income through Anglia Ruskin University (ARU), in accordance with the funding agreement that is in place between the two organisations. During the year ended 31 July 2023 University Centre West Anglia was due to receive, and did receive, £130,500 (2022: £202,800) of income from ARU, based on the OFS funding formula.


12.


Controlling party

The directors consider that, by virtue of provisions in the joint venture agreement and the company's memorandum and articles of association, Anglia Ruskin University Higher Education Corporation, a corporation created by the exercise of powers conferred on the Secretary of State by the Education Reform Act 1988 and as amended by the 1992 Act, is the ultimate parent body. Copies of the Parent's consolidated financial statements may be obtained from the Finance Director, Anglia Ruskin University, Rivermead Campus, Rivermead Gate, Bishop Hall Lane, Chelmsford, Essex, CM1 1SQ.


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