Accounting for grant?

Hello,

I am a sole trader, and have been awarded a small grant by my University SU for business development. I was just wondering how this should be recorded? Should it be considered as income (if so, which account?) or as my “investment” (i.e. recorded in the proprietor drawings account). Will either have an effect on its taxable status?

Thanks!

You may find the following post useful:

http://community.quickfile.co.uk/t/incoming-funds-from-a-government-grant/819