||Page|
|---|---|
|Report ofthe Trustees|1to 13|
|Report ofthe Independent<br>Auditors|14to 17|
|Statement ofFinancial Activities|18|
|Balance Sheet||
|Cash Flow Statement|20|
|Nates to the Cash Flow Statement|21|
|Notes tothe Financial Statements|22 to 34|





||||The||University ofPortsmouth<br>Student's|University ofPortsmouth<br>Student's|University ofPortsmouth<br>Student's|Union|Union||
|---|---|---|---|---|---|---|---|---|---|---|
|||||||Report of|the Trustees||||
||||||for|the Year Ended 31July 2022|||||
|REFERENCE AND ADMINISTRATIVE|||DETAILS||||||||
|Full-time (Elected) Officer||Trustees|||||||||
|Welfare Officer|||Natasha||Layley|(appointed|1stJuly 2021)||||
|Learning<br>Experience|Officer||Jade Underwood<br>(appointed||||1st July 2021)||||
|Development<br>Officer|||Micheal|Kiddell||(appointed|1stJuly 2020, resigned||on 16th May 2022)||
|Development<br>Officer|||Temidayo||Dosunmu<br>(appointed<br>on 1st July 2022)||||||
|Academic Representation||Officer|Sapphire||Rance|(appointed|1stJuly 2021,resigned||on 30th June 2022)||
|Academic Representation||Officer|Ayoola Johnson|||(appointed|1st July 2022)||||
|Democracy<br>and Campaigns||Officer|Dominic||Owen (appointed||1stJuly 2021)||||
|Student Trustees|||||||||||
|Non-Portfolio|||Ayoola Johnson|||(appointed|14th August 2020, resigned on|||30th June 2022)|
|Non-Portfolio|||Ternidayo||Dosunmu<br>(appointed<br>1st August 2021,resigned|||||30th June 2022)|
|Non-Portfolio|||Bill Gunayon<br>(appointed<br>20th April 2021.resigned||||||on 31st|July 2022)|
|University<br>Nominated|Trustee||||||||||
|Non-Portfolio|||Mary Williams (appointed<br>21st April 2020)||||||||
|External Trustees|||||||||||
|Non-Portfolio|||Baldev Singh Gill (Appointed||||24th October 2018,resigned|||on 31stJuly 2022)|
|Non-Portfolio|||Victoria Turner|||(Appointed|on 29th January 2019)||||
|Non-Portfolio|||lan Robinson (Appointed<br>on 29th January 2019)||||||||
|Company Secretary|||Jade Underwood|||(appointed|1stJuly 2021,resigned||on 30th lune 2022)||
||||Temidayo||Dosunmu<br>(appointed<br>on 1stJuly 2022)||||||
|Chief Executive|||Anna Clodfelter||||||||
|Registered<br>Office|||||||||||
|Student<br>Union Building|||||||||||
|Cambridge<br>Road|||||||||||
|Portsrnouth|||||||||||
|Hants|||||||||||
|PO1 2EF|||||||||||
|Registered<br>Company|Number||||||||||
|03934555|||||||||||



## 



## 

## 



## 

## 

## 



## 



## 

## 

## 

## 



## 

## 

## 

## 

## 

## 



## 

## 

## 

## 

## 

## 

## 



## 

## 

## 



## 

## 

## 



## 

## 



## 

## 

## 



## 

## 

## 



## 

## 

## 

## 

## 

## 



## 

## 

## 

## 

## 



## 

## 



## 



## 

## 

|||||Unrestricted|Restricted|Total|Total|
|---|---|---|---|---|---|---|---|
|||||funds|funds|2022|2021|
||||Notes|f|f|f|f|
|INCOME AND ENDOWMENTS||FROM||||||
|Donations<br>and legacies||||1,349,151||1,349,151|1,223,895|
|Other trading<br>activities||||310,007||310,007|158,950|
|Income from investments||||356||356|294|
|Charitable<br>actiwties||||22,501|22,133|44,634|13,443|
|Other income||||5,552||5,552|50,650|
|Total income||||1,687,567|22,133|1,709,7DO|1,447,232|
|EXPENDITURE ON||||||||
|Raising funds|||9|108,491||108,491|50,633|
|Charitable<br>activities|||7|1,434,486|46,014|1,480,500|1,323,268|
|Total||||1,542,977|46,014|1,588,991|1,373,901|
|Net income/(expenditure)||||144,590|(23,881)|120,709|73,331|
|Other recognised gains/(losses)||||||||
|Acturial gains/(losses)|on defined benefit|||||||
|schemes|||22|(40,915)||(40,915)|(42,391)|
|Net movements<br>in funds||||103,675|(23,881)|79,794|30,940|
|Reconciliation offunds||||||||
|Total funds brought forward||||(977,884)|92,666|(885,218)|(916,158)|
|Total funds carried forward||||(874,209)|68,785|(805,424)|(885,218)|





## 

|||||Group|Group|Charity|Charity|
|---|---|---|---|---|---|---|---|
|||||2022|2021|2022|2021|
||Notes|||6'000|f'000|6'000|f'000|
|Fixed assets||||||||
|Tangible assets|14|||12,000|25,D93|12,000|25,093|
|Investments|13|||||1||
|Total Axed assets||||12,000|25,093|12,001|25,094|
|Current assets||||||||
|Stocks||||47,627|52,349|||
|Debtors||||56,255|60,300|108,564|127,520|
|Cash at bank and in hand||||790,411|707,688|772,427|68D,228|
|Total current assets||||894,293|820,337|880,991|S07,748|
|Liabilit(es||||||||
||||'|||||
|Creditors falling due within one year|17|||(206,666)|(144,772)|(193,365)|(132,184)|
|Net current assets/(liabilities)||||687,627|67S,56S|687,626|675,564|
|Total assets less current liabilities||||699,627|700,658|699,627|7D0,658|
|||'||||||
|Prov)stuns far liabilities|22|||(1,505,051)|(1,585,876)|(1,505,051)|(1,585,876)|
|Net (liabilities)/assets||||(805,424)|(885,218)|(BDS,424)|(BSS,21S)|
|Funds||||||||
|Pension deficit||||(1,505,051.)|(1,585,876)|(1,505,051)|(1,585,876)|
|General funds||||630,842|607,992|630,842|607,992|
|Unrestricted<br>funds|20|||(874,209)|(977,884)|(874,209)|(977,884)|
|Restricted funds||||68,785|92,666|68,785|92,666|
|Totalcharityfunds||||(805,424)|(885,218)|(805,424)|(885,218)|





## 

||||Group|Group|Charity|Charity|
|---|---|---|---|---|---|---|
||||2022|2021|2022|2021|
|||Notes|8||f||
|Net income forthe reporting<br>period|(as per the statement||offinandal|activities)|||
|Cash generated<br>from operations|||82,367|15,779|91,843|46,533|
|Net cash provided<br>by (used in) operating||activities|82,367|15,779|91,843|46,533|
|Cash flows from investing<br>activities|||||||
|Interest income|||356|294|356|294|
|Purchase oftangible<br>fixed assets|||||||
|Cash provided<br>by [used in) investing|activities||356|294|356|294|
|Change<br>in cash and cash equivalents|in the||||||
|reporting<br>period|||82,723|16,073|92,199|46,827|
|Cash and cash equivalents<br>atthe beginning|||707,688|691,615|680,228|633,401|
|ofthe reporting<br>penod|||||||
|Total cash at the end ofthe year|||790,411|707,688|772,427|680,228|





## 

||||||Group|Group|Charity|Charity|
|---|---|---|---|---|---|---|---|---|
||||||2022|2021|2022|2021|
||||||E|E|E|E|
|h!et income for the|reporting||period (as|per the|||||
|statement<br>offinancial||activities)|||79,794|30,940|79,794|30,940|
|Adjustments<br>for:|||||||||
|Depreciation<br>charges|||||13,093|13,110|13,093|13,110|
|Interest income|||||(356)|(294)|(356)|(294)|
|Finance cost of pension||deficit|||40,915|42,391|40,915|42,391|
|Pension deficit repayments|||||(121,740)|(99,564)|(121,740)|(99,564)|
|Decrease/(increase)|in|stocks|||4,722|997|||
|(Increase)/de«rease|in|debtors|||4,045|(29,867)|18,956|12,018|
|Increase/(decrease)|in|creditors|||61,894|58,066|61,181|47,932|
|Net cash provided|by (used in) operating|||activities|82,367|15,779|91,843|46,533|



## 

|Group||At 1.4.21|Cash flow|At 31.3.22|
|---|---|---|---|---|
|||E|E|E|
|Net cash|||||
|Cash at bank and|in hand|707,656|82,723|790,379|
|||707,656|82,723|790,379|
|Company||At1.4.21|Cash flow|At 31.3.22|
|||E|E|E|
|Net cash|||||
|Cash at bank and|in hand|680,228|92,199|772,427|
|||680,228|92,199|772,427|





## 

## 

## 

## 

## 

## 



## 

## 

## 

## 

## 



## 

## 

## 

## 

## 

## 

## 

## 



## 

## 

## 

||||||2022|2022||2021|
|---|---|---|---|---|---|---|---|---|
|||||||E|||
||Income from|trading|subsidiary||||||
||Commercial|partnerships||||164,220||53,337|
||Retail income|||||144,987||96,302|
||Other income||||||800|9,311|
|||||||310,007||158,950|
|4|Income from|investments|||||||
||||||2022|||2021|
|||||||E||E|
||Bank deposit|interest|||||356|294|
||||||||356|294|
|5|Income from|charitable||activities|||||
||||||2022|||2021|
||Development|—Group income||||44,634||13,443|
|||||||44,634||13,443|
|6|Other Income||||||||
||||||2022|||2021|
|||||||E||E|
||Grant income|||||||26,489|
||Other income|||||5,552||24,161|
|||||||5,552||50,650|
||The charitable|company||received grants from the Government|amounting|to ENIL||(2021:f26,489)|



## 

|||||||
|---|---|---|---|---|---|
|Chadtable|activi|ties costs||Support||
||||Direct|costs||
||||Costs|(note 8)|Totals|
||||E|E|E|
|Development|||94,281|372,675|466,956|
|Representation|||171,229|386,803|558,032|
|Welfare|||34,124|372,675|406,799|
|Other chantable||activities||48,713|48,713|
||||299,634|1,180,866|1,480,500|





## 

## 

||||||Central|Governance||
|---|---|---|---|---|---|---|---|
|||||Operations||Costs|Totals|
||||||||6|
|Development|||||372,583|92|372,675|
|Representation|||||386,711|92|386,803|
|Welfare|||||372,583|92|372,675|
|Other charitable<br>activities|||||19,828|28,885|48,713|
||||||1,151,705|29,161|1,180,866|
|Support|costs have been|apportioned|on a|basis that|is consistent|with use ofresources.||
|Support|costs, included|in the above,|are as follows:|||||
|Central|Operations|||||||
|||||||2022|2021|
|||||||Total|Tote I|
|||||||activities|activities|
|Salaries|and training|||||809,234|766,033|
|Strategic development||||||||
|Membership<br>engagement||||||44,460|49,035|
|Central|admin and overheads|||||281,129|227,223|
|NUS Affiliation||||||||
|Irrecoverable<br>VAT||||||3,789|6,522|
|Central|depreciation|||||13,093|13,110|
|||||||1,151,705|1,061,923|
|Governance<br>costs||||||||
|||||||2022|2021|
|||||||Total|Total|
|||||||activities|activities|
|Audit||||||10,948|11,321|
|Central|Admin|||||6,650|4,335|
|Management<br>accounts||||||11,314|11,485|
|Training|& development|||||||
|Trustee|Expenses|||||249|147|
|||||||29,161|27,288|





## 

||The University ofPortsmouth<br>Student's<br>Notes to the Financial Statements<br>For the year ended 31July 2022|The University ofPortsmouth<br>Student's<br>Notes to the Financial Statements<br>For the year ended 31July 2022|Union||
|---|---|---|---|---|
|9|Raising funds expenditure||||
||||2022|2021|
||||E|E|
||Other activities||108,491|5D,633|
|10|Net income/(expenditure)||||
||Net income/(expenditure)|is stated after charging/(crediting):|||
||||2022|2021|
||||E|E|
||Auditors'<br>remuneration|-current auditors audit fees|10,948|11,321|
||Depreciation<br>-owned assets||13,D93|13,110|
||||24,041|24,431|
|11|Staff costs||||
||||2022|2021|
||||E|E|
||Wages and salaries||947,141|875,381|
||Social security costs||69,244|63,739|
||Other pension costs||21,859|22,636|
||||1,038,244|961,756|



|2022|2021|
|---|---|
|72|6D|



|||2022|2021|
|---|---|---|---|
|E60,001|- E?0,000||1|
|E70,001|- E80,000|||





## 

## 

## 

|The summar|y<br>fina|n|cial<br>per|formance<br>ofthe charity alone is:|||
|---|---|---|---|---|---|---|
||||||2022|2021|
||||||6|E|
|Turnover|||||1,601,209|1,396,599|
|Expenditure|on charitable|||activities|(1,480,500)|(1,323,268)|
|Other recognrsed||gains/(losses)|||(40,915)|(42,391)|
|Net Income|||||79,794|30,940|
|Total funds|brought||forward||(885,218)|(916,158)|
|Total funds|carried||forward||(805,424)|(885,218)|
|Represented|by:||||||
|Unrestricted|funds||||||
||General||Funds||630,842|607,992|
||Pension||Deficit||(1,505,051)|(1,585,876)|
|Restricted funds|||||68,785|92,666|
||||||(805,424)|(885,218)|



## 

|The summary|financial<br>perform|ance<br>of the|subsidiary|alone is:|||
|---|---|---|---|---|---|---|
||||||2022|2021|
||||||f|f|
|Turnover|||||310,007|158,950|
|Cost ofsales and administration||costs|||(108,631)|(50,773)|
|Management|charges||||(137,270)|(86,814)|
||||||64,106|21,363|
|Gift aid payment to UPSU|||||(64,106)|(21,363)|
|Net profit|||||||
|Retained<br>in subsidiary|||||||
|The assets and|habdities ofthe|Portsrnouth|Students'|Union Trading Company|Limited were:||
||||||2022|2021|
||||||E|f|
|Total assets|||||92,001|110,833|
|Total liabilities|||||(92,000)|(110,832)|
|Tota<br>I net assets|||||||
|Aggregate<br>share capital and reserves|||||||





## 

||||||Fixtures &||
|---|---|---|---|---|---|---|
||||||fittings|Total|
||||||f|f|
||Cost||||||
||At 1August 2021||||215,248|215,248|
||Additions||||||
||Disposals||||||
||At 31July 2D22||||215,248|215,248|
||Depreciation||||||
||At 1August 2021||||190,155|190,155|
||Charge for year||||13,093|13,093|
||On dispnsals||||||
||At 31July 2022||||203,248|203,248|
||Net book value||||||
||At 31July 2022||||12,000|12,000|
||At31July 2021||||25,093|25,093|
|15|Stocks||||||
||||||2D22|2D21|
||||||f|f|
||Stocks||||47,627|52,349|
|16|Debtors||||||
||||Group|Group|Charity|Charity|
||||2022|2021|2022|2021|
||||f|f|f||
||Trade debtors||24,964|33,510|498|2,486|
||Prepayments|and accrued income|25,491|22,377|18,516|22,377|
||Other debtors||5,800|4,413|5,800|11,413|
||Intercompany||||83,750|91,244|
||||56,255|60,300|108,564|127,520|





## 

## 

## 

|||Group|Group|Charity|Charity|
|---|---|---|---|---|---|
|||2022|2021|2022|2021|
|||E|E|f|f|
|Trade creditors||39,936|6,373|30,747|6,341|
|Social security and other taxes||17,907|15,128|17,907|15,128|
|Accruals and deferred|income|140,351|112,615|135,889|105,445|
|Other creditors||7,424|5,601|7,424|4,440|
|VAT payable||1,048|5,055|1,398|830|
|||206,666|144,772|193,365|132,184|



## 

|||||Group|Group|Charity|Charity|
|---|---|---|---|---|---|---|---|
|||||2022|2021|2022|2021|
|||||f|f|E|E|
|Balance|as at 1August 2021|||||||
|Amount|released|to incoming|resources|||||
|Amount|deferred|in year||50,000||50,000||
|Balance|as at 31|July 2022||50,000||50,000||



## 

|||||2022|2021|
|---|---|---|---|---|---|
|||Unrestricted|Restricted|Total|Total|
|||fund|fund|funds|funds|
|||f|E|f|f|
|Fixed assets||12,000||12,000|25,093|
|Current|assets|825,508|68,785|894,293|820,337|
|Current|liabilities|(206,666)||(206,666)|(144,772)|
|Pension|defiat|(1,505,051)||(1,505,051)|(1,585,876)|
|||(874,209)|68,785|(805,424)|(885,218)|





## 

|Iylovement<br>in fund|s - Gr|oup|||||||||
|---|---|---|---|---|---|---|---|---|---|---|
||||||||Net||||
||||||||movement||||
|||||||At 1.8.21|in funds|Transfers||At 31.7.22|
||||||||f|f||E|
|Unrestricted<br>funds|||||||||||
|Pension deficit||||||(1,585,876)|(40,915)|121,740||(1,505,051)|
|General funds||||||607,992|144,590|(121,740)||630,842|
|Total unrestricted|funds|||||(977,884)|103,675|||(874,209)|
|Restricted funds|||||||||||
|Sports and societies||||||90,374|(23,881)||2,534|68,027|
|Ring fenced funds||||||2,292||(1,534)||758|
|Total restricted<br>funds||||||92,666|(23,881)|||68,785|
|TOTALFUNDS||||||(885,218)|79,794|||(805,424)|
|Net movement<br>in funds,||included||in|the above|are as follows:|||||
|||||||Incoming|Resources|Acturi a I|Gains|Movement|
|||||||resources|expended|/ (Losses)||in funds|
|||||||f|f|E||f|
|Unrestricted<br>funds|||||||||||
|Pension<br>deficit||||||||(40,915)||[40,915)|
|General funds||||||1,687,567|(1,542,977)|||144,590|
|Restricted funds|||||||||||
|Sports and sacieties||||||22,133|(46,014)|||(23,881)|
|Ring fenced funds|||||||||||
|||||||1,709,700|('1,588,991)|(40,915)||79,794|
|Comparative<br>for movement|||in funds||—Group||||||
||||||||Net||||
||||||||movement||||
|||||||At 1.8.20|in funds|Transfers||At 31.7.21|
|||||||f|E|f||f|
|Unrestricted<br>funds|||||||||||
|Pension deficit||||||(1,643,049)|(42,391)|99,564||(1,585,876)|
|General funds||||||629,921|77,635|(99,564)||607,992|
|Total unrestricted|funds|||||(1,013,128)|35,244|||(977,8S4)|
|Restricted funds|||||||||||
|Sports and societies||||||94,678|(4,304)|||90,374|
|Ring fenced funds||||||2,292||||2,292|
|Tatal restricted<br>funds||||||96,970|(4,304)|||92,666|
|TOTALFUNDS||||||(916,158)|30,940|||(885,218)|





## 

## 

|Comparative|net movemen|t<br>in funds, inclu|ded<br>in the above are|as follows:||||
|---|---|---|---|---|---|---|---|
||||Incoming|Resources|Actuarial|Gains|Movement|
||||resources|expended|/ (Losses)||in funds|
||||E|E|E||E|
|Unrestricted|funds|||||||
|Pension deficit|||||(42,391)||(42,391)|
|General funds|||1.415,528|(1,337,893)|||77,635|
|Restricted funds||||||||
|Sports and|societies||5,215|(9,519)|||(4,304)|
|Ring fenced|funds|||||||
|Coronavirus|Job Retention|Scheme|26,489|(26,489)||||
||||1,447,232|(1,373,901)|(42,391)||30,940|



## 

|2022|2021|
|---|---|
|f|E|
|1,505,051|1,585,876|





## 

||||||2022|2021|
|---|---|---|---|---|---|---|
||||||f||
|Provision at start of|the|period|||1,585,876|1,643,049|
|Effect of unwinding|discount||and changes|in rate|40,915|42,391|
|Deficit contribution|paid||||(121,740)|(99,564)|
|Provision at the end|ofthe period||||1,505,051|1,585,876|
|income and expenditure||impact|||||
|Effect of unwinding|discount||and changes|in rate|40,915|42,391|
||||||40,915|42,391|
|Assumptions|||||||
||||||31.07.22|31.07.21|
||||||%per annum|%per annum|
|Rate ofdiscount|||||2.58%|2.58%|





## 

## 

|Group|Group|
|---|---|
|2022|2021|
|E'000|E'000|



##