The University of Glasgow Settlement

ANNUAL REPORT2 0 1 1

Universit yof GlasgowSettlement

CONTENTS

MANAGEMENT REPORT

INDEPENDENT AUDITOR’S REPORT

FINANCE REPORTS

TREASURER’S REPORT

CONVENOR’S REPORT

MSB PANEL REPORT

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MissionThe purpose of the charity is to advance education, citizenship and community development by working in partner-ship with the Students’ Representative Council to the benefit of the student body of the University of Glasgow and the City of Glasgow.

Principal ActivitiesThe main activity, entitled “Find a Solution” places two students in each of 3 selected voluntary organisations for a period of approximately 8 weeks during which the students work full-time on a project provided by the organisation. Each student receives a bursary of £1500 paid in 3 tranches. In the financial year to which this report refers, the fund-ing for this activity was received from the following trusts: The Robertson Trust The Gordon Fraser Trust The Chancellor’s Fund

The Committee continued to support mature students with bursaries where there is financial hardship. In a change from previous policy, a smaller number of bursaries were awarded, each for a more substantial amount ranging from £250 to £500.

Students in the Psychology Department whose research had a social purpose, received funding to cover the ex-penses of their Maxi projects.In addition to the Maxi Projects, a summer research project in the area of ageing was funded by the J&JR Wilson Charitable Trust through the Settlement.

The Settlement has charitable status for tax purposes under the provisions of Section 505 of the Income and Corpora-tion Taxes Act 1988 (Charities Number: SC002924).

MANAGEMENT REPORTPrepared by: Management Committee

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CommitteeThe Settlement is a company limited by guarantee and has no share capital. The Committee members during the year were:-

Convener Mrs Alison K SpurwayHonorary Treasurer Mr Chris Buckland Honorary SecretaryMrs Fiona Buckland

Ordinary Committee Members (Elected)Mrs Lizanne McKerrell Mrs Elizabeth ThomasSister Karen d’Artois Mr John AlexanderMr Michael Shanks Ex Officio RepresentativeSRC VP Learning & Development Miss Tuula Eriksson

By InvitationSRC Permanent Secretary Mr Bob Hay

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Investment PolicyInvestments are held in accordance with the charity’s powers. The investment policy which is reviewed by the trus-tees from time to time is aimed at maintaining the real value of the General Fund over a period of years and thereby providing a reasonable level of income for making donations.

Risk ManagementThe trustees have examined the major business and operational risks which the charity faces and have established systems to enable regular reports to be produced so that the necessary steps can be taken to lessen these risks.

ReservesThe general unrestricted funds of the charity are represented solely by investments, the income from which is utilised in awarding bursaries. The trustees consider that the aims of the charity can be achieved by maintaining positive reserves. All of the individual reserves were transferred to the General Fund on 1 July 2009.

AuditorsThe auditors Alexander Sloan are appointed in accordance with the Companies Act 2006.

Small Company DisclosureIn preparing these financial statements, the committee has taken advantage of the special exemptions ap-plicable to small companies

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Trustees’ ResponsibilitiesCompany Law requires the committee members to prepare accounts for each financial year which give a true and fair view of the state of affairs of the charity and of the surplus or deficit of the charity for that period. In preparing those accounts, the committee members are required to:

select suitable accounting policies and then apply them consistently;make judgements and estimates that are reasonable and prudent;prepare the financial statement on the going concern basis unless it is inappropriate for the charity to continue in business.

The committee members are responsible for keeping proper accounting records which disclose with reasonable ac-curacy at any time the financial position of the charity and to enable them to ensure that the accounts comply with the Companies Act 1985. They are also responsible for safeguarding assets of the and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

By order of the Management Committee

Chris BucklandHonorary Secretary Date: 2011

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INDEPENDENTAUDITOR’S REPORTPrepared for the Management Committee

This report is issued in respect of an audit carried out under section 495 to 497 Companies Act 2006 and section 44 (1)(c) of the Charities and Trustees Investment (Scotland) Act 2005.

We have audited the financial statements of the University of Glasgow Settlement for the year ended 30 June 2011 which comprise the Statement of Financial Activities, the Summary Income and Expenditure account, and the Bal-ance Sheet and the Cash Flow Statement and relevant notes. These financial statements have been prepared in ac-cordance with the accounting policies set out therein.

This report is made exclusively to the members, as a body, in accordance with section 495 to 497 of the Companies Act 2006 and to the charity’s trustees, as a body, in accordance with section 44(1)(c) of the Charities and Trustee In-vestment (Scotland) Act 2005 and Regulation 10 of the Charities Accounts (Scotland) Regulations 2006. Our audit work has been undertaken so that we might state to the charity’s directors those matters we are requested to state to them in an auditors 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 charity and us directors as a body, for our audit work, for this report, or for the opinions we have formed.

Respective Responsibilities of Directors & AuditorsThe responsibilities of the directors for preparing the Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Prac-tice) are set out in the Statement of Directors’ Responsibilities.

Our responsibility is to audit the financial statements in accordance with relevant legal and regulatory requirements and International Standards on Auditing (UK and Ireland)

We report to you our opinion as to whether the financial statements give a true and fair view and are properly pre-pared in accordance with the Companies Act 2006, the Charities and Trustee Investment (Scotland) Act 2005 and Regulation 8 of the Charities Accounts (Scotland) Regulations 2006.

We also report to you if, in our opinion, the information given in the Directors’ Annual Report is consistent with the financial statements, if the charity has not kept proper accounting records, or if we have not received all the informa-tion and explanations we require for our audit.

We read the Directors’ Annual Report and consider the implications for our report if we become aware of any appar-ent misstatement within it.

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BasisWe conducted our audit in accordance with International Standards on Auditing (UK and Ireland) issued by the Audit-ing Practices Board. An audit includes examination on a test basis of evidence relevant to the amounts and disclo-sures in the financial statements. It also includes an assessment of the significant estimates and judgements made by the directors in the preparation of the financial statements and of whether the accounting policies are appropriate to the charity’s circumstances, consistently applied and adequately disclosed.

We planned and performed our audit so as to obtain all the information and explanations which we considered nec-essary in order to provide us with sufficient evidence to give reasonable assurance that the financial statements are free from material misstatement, whether caused by fraud or other irregularity or error. In forming our opinion we also evaluated the overall adequacy of the presentation of information in the financial statements.

OpinionIn our opinion:

• The financial statements give a true and fair view in accordance with United Kingdom Generally Accepted Accounting Practice of the state of the charity’s affairs as at 30 June 2010 and of its incoming resources and applications of resources including its income and expenditure for the year then ended and • The financial statements have been properly prepared in accordance with the Charities and Trustee Invest ment (Scotland) Act 2005, regulation 8 of the Charities Accounts (Scotland) Regulations 2006 and the Com panies Act 2006.• The information given in the Directors’ Annual Report is consistent with the financial statements

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FINANCIAL REPORTSIncome and Expenditure Account (Year End 30 June 2011)

Incoming Resourses

Incoming resources from generated funds

Voluntary Income

Investment Income

Total incoming Resources

Resources Expended

Charitable activities

Governance costs

Total resources expended

Net movemnent in funds

Reconciliation of funds

Total funds brought forward

Total funds carried forward

Unrestricted Funds

£

14,005

1,916

15,921

(18,092)

(535)

(18,627)

(2,706)

93,078

90,372

2011Total

£

14,005

1,916

15,921

(18,092)

(535)

(18,627)

(2,706)

93,078

90,372

2010 Total

£

8,569

1,512

10,081

(17,221)

(420)

(17,641)

(7,560)

100,638

93,078

Notes

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3

4

6

Current Assests

Investments

Cash in bank/at hand

Creditors

Amounts due within one year

Net Current Assets

Net Assests

Funds

Unrestricted Funds

General Funds

£

93,078

93,078

93,078

93,078

£

90,372

90,372

90,372

90,372

Notes

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£

81,512

12,066

93,578

(500)

£

83,428

14,044

97,472

(7,100)

Balance Sheet (30 June 2011)

2011 Restated2010

The financial statements are prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved and authorised for issue by the Directors on 22nd November 2011 and signed on their behalf.

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NOTES: FINANCIAL REPORTSYear End 30 June 2011

Voluntary income

Donations

Chancellor’s FundHugh FraserRobertson TrustTrades HouseSaints & SinnersOther Donations

Investment income

Interest Received

Costs of Charitable Activities

Bursaries PayablePremises CostsRunning Costs

2011£

14,005

14,005

5,5003,0003,0001,000800705

14,005

2011£

1,916

1,916

2011£

17,000444648

18,092

2010£

8,569

8,569

2010£

1,512

1,512

2010£

16,200-

1,021

17,221

(2)

(3)

(4)

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TREASURER’S REPORTPrepared Chris Buckland, November 2011

Financial StatusAs has been the case in the previous few years, the Settlement currently continues to run at a deficit, although the fact that receipt of funds from the University of Glasgow Chancellor’s Fund came in the 2010-11 financial year has gone some way to readdressing the deficit. In addition, generous grants & donations have also been received from the Hugh Fraser Trust, Trades House, and again from the Robertson Trust and Saints and Sinners Glasgow.

The financial climate continues to be a hostile one for organisations such as the Settlement, both in terms of income received through interest on capital and our ability to secure external funding. The Management Committee is there-fore prepared to again continue the spending of capital to support Find a Solution and the Psychology Maxi Projects, although the bursary which had been made available to students studying under Dr Guillaume Rousselet in the Dept of Psychology will now be made available to Bield Care Homes & Alzheimer Scotland following the development of a volunteering opportunity via the SRC Student Volunteer Support Service.

Mature Student BursariesAt the end of the 2009/10 financial year it was agreed that we would, in light of the Settlement’s continued use of cap-ital to support its activities, review the support given to Mature Student Bursaries for University of Glasgow students. However, as has been noted, applications continue to be received which speak of genuine need and the scheme will continue (albeit capped) into 2011/12.

DepartureOn a personal note, I will be stepping down from role as Honorary Treasurer to focus on work and family commit-ments. I have enjoyed my brief stint in the role and look forward to seeing the Settlement develop in the years ahead.

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Find a SolutionIn September 2010, six students who had carried out work for Alzheimer Scotland, Citizen’s Advice Bureau and the National Youth Choir of Scotland presented their work to an invited audience. It was clear from the representatives of the three organisations, that the students’ research and recommendations had provided them with exciting new ideas to support their work.

In the autumn members of the committee again looked for suitable projects and were successful in attracting projects from a variety of organisations from which Friends of the Earth, Bridging the Gap and New Rhythms for Glasgow were selected. Each organisation made a bid for students at a lively meeting in February. There is no doubt that Find a Solution is recognised by students as wa means of improving their understanding of the voluntary sector, gaining practical experience and spending their summer doing a worthwhile job.

The value of the project is recognised by Trusts and Foundations which even in difficult financial times are prepared to provide grants for the work.

Psychology ProjectsStudents in the Psychology Department, who were pursuing research with a social purpose, were provided with funds by the Settlement to cover their research expenses.In addition to the Maxi Projects, a summer research project in the area of ageing was funded by the J&JR Wilson Charitable Trust through the Settlement.

CommitteeThe Committee met 3 times during the year formally but a great deal more work was undertaken by individuals. Members acted as mentors to the students undertaking the “Find a Solution projects, Sister Karen convened the Ma-ture Student Bursary Panel and Mr John Alexander progressed the development of a reliable database.

A proposed joint meeting with the Retired Staff Association in February 2011 was cancelled through lack of support. The Association kindly undertook to invite members to attend to the presentation of Find a Solution projects and to provide hospitality.

CONVENOR’S REPORT Alison K Spurway, October 2011

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ConstitutionThe protracted business of changing the name from the historically accurate but rather cumbersome Glasgow Uni-versity Queen Margaret Settlement Association to University of Glasgow Settlement was completed as was the even more challenging business of recording this change with OSCR, Companies House and HM Revenue & Customs.

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MSB PANEL REPORTSr Karen Marguerite OP, October 2011

The Bursary Panel saw a change of personnel over the past year as Dr Graham Herbertson stepped down and was replaced by Mr John Alexander.

The Panel met three times during the academic year: October 2010, January 2011, and March 2011. In October, 12 applications were received and dealt with as follows: 5 awards of £500 were made; 3 of £250; and 4 were rejected. In February, 8 applications were received and dealt with as follows: 3 awards of £500 were made and 5 applications were rejected (2 being ineligible). In March, 8 applications were received and dealt with as follows: 1 award of £750 and 2 of £500 were made; 5 were rejected (2 being ineligible). Thus in total, awards were made to a value of £6500. As noted in the previous academic year, the number of applications has been reduced following the implementation of a more stringent application form. However, the Panel noted that applications spoke of genuine need and clearly the Bursary Scheme is enabling good students to complete their degrees. Although many of the requests are for general living expenses, several applications were based on serious unforeseen circumstances with which the Panel was delighted to be able to assist.

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CONTACT

AddressFAO Student Volunteer Support Service CoordinatorGlasgow University Students’ Representative CouncilJohn McIntyre BuildingUniversity of GlasgowGlasgowG12 8QQ

Phone/Fax0141 339 85410141 337 3557

OnlineEmail: volunteer@src.gla.ac.ukwww.glasgowstudent.net/volunteer/settlement

Credits

Design & Layout: Iain Smith [iainsmith.mail@gmail.com]Photography: All photos courtesy Glasgow University Students’ Representative Council & Glasgow University Photographic UnitProof: Abigail Allsopp, Iain MacDonald, Fiona BucklandThanks: Bob Hay, GUSRC, Fiona Buckland

Universit yof GlasgowSettlement

Scottish Charity Number: SC002924