2021-07-31-accounts - University Of Exeter Students' Guild

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Reference and administrative	Reference and administrative	details ofthe	Company,
Trustees' report
Independent auditors'	report	on the financia	Istatements
Statement offinancial	activities
Balance sheet
Statement ofcash flaws
Notes to the Rnanciai	statements

REFERENCE AND	REFERENCE AND	ADMINISTRATIVE DETAII SOF THE COMPANY, ITSTRUSTEES AND ADVISERS	ADMINISTRATIVE DETAII SOF THE COMPANY, ITSTRUSTEES AND ADVISERS	ADMINISTRATIVE DETAII SOF THE COMPANY, ITSTRUSTEES AND ADVISERS	ADMINISTRATIVE DETAII SOF THE COMPANY, ITSTRUSTEES AND ADVISERS	ADMINISTRATIVE DETAII SOF THE COMPANY, ITSTRUSTEES AND ADVISERS	ADMINISTRATIVE DETAII SOF THE COMPANY, ITSTRUSTEES AND ADVISERS
		FOR THE YEAR ENDED 31	JULY 2021
Trustees		DWatson, External Trustee
		N Stewart, External Trustee
		J Walkfing, External Trustee
		M Laithwaite, External Trustee
		6 Blake, Sabbatical Trustee and Chair		(resigned		16 July 2021)
		RJones, Sabbatical Trustee (resigned		16	July 2021)
		O Harvey, Sabbatical Trustee (resigned		16July 2021)
		H Chau Dinh, Sabbatical Trustee (resigned			16 July 2021)
		M Ojua, Sabbatical Trustee (appointed		19July 2021)
		I Harrison, Sabbatical Trustee (appointed			19July	2021)
		I Enoizi, Sabbatical Trustee (appointed		19July 2021)
		O Margaroli, Sabbatical Trustee and Chair			(appointed		19July 2021)
		A Carlisie, Student Trustee (appointed		1 August 2020)
		RJones, Student Trustee (appointed	1	August 2020, resigned 31 July 2021)
		6 Elbortoukaly, Student Trustee (appointed 1 August					2020, resigned 9 September
		2021)
		M Abdelkarim, Student Trustee (appointed			1 August 2020, resigned 31 July 2021}
		T Baskaran {appointed 9September 2021)
		I Affrin (appointed 9 September 2021)
		S Hilson-Wheeler (appointed 9September			2021)
Company	registered
number		07217324
Chal'tty reglsterett
number
Registered	office	Devonshire House
		Stocker Road
		Exeter
		Devon
		EX44PZ
Sabbatical	officers	0 Margaroli, President
		I Harrison, VP Opportunities
		I Enoizi, VP Education
		M Ojua, VP Liberation (t Equality
Company	secretary	6 Harding
Senior management		A Chambers, Chief Executive
		C Thornton, Head of Marketing and Brand
		H Brown, Head ofFinance
		TBarrass, Head ofStudent Engagement
		SHarding, Head ofQrgardsational Development

Independent	Independent	Griffin
		Chartered Accountants
		Silverdown Office Park
		Exeter Airport	Business Park
		Exeter
		EX52UX
Bankers		National Westminster		Bank pic
		Cowick Street
		Exeter
		EX4 1DE
Solicitors		Foot Anstey LLP
		Senate Court
		Southemhay	Gardens
		Exeter
		EX1 1NT
Human	resources	Peninsula Business Services Limited
advisor		The Peninsula
		Victoria Place
		Manchester
		Ms 4FB

				Restricted	Unrestricted	Total
				funds	funds	funds
				2021	2021	2021
			Note		6	6
Income from:
Donations and	legacies				3,025,?67	3,025,?67	2,904,T5T
Charitable activities					668,664	805,082
Other trading activities					97,371	9?,371	233,462
Investments					7	7	4f9
Other income					9'f,688	91„688
Total income				236,418	3„783,497	4,019„916	5,888,332
Expenditure on.
Raising funds			9	375	76,908	76,283	95,033
Charitable activities			10	248,972	2,539,457	2,788,429	?,550,8?6
Total expenditure				249,34?	2,816,M5	2,864,712	'?,645,909
Net movement	in funds			(12,929)	1,168,'I32	1,155,203	(f,?5?,5?T}
Reconciliation	offunds:
Total funds brought		forward		821,868	(6,262,533)	(5,440,675)	(3,583,098)
Net movement	in funds			(12,929)	1,168,'f32	1,156,203	(1,?5?,5TT}
Total funds carried		fonjvard		808,929	(6,094,401)	(4,285,472)	(5,440,675}

								As restated
								2020
Fixed assets
Tangible assets						173,729
Investments						2,445
Current assets
Stocks				17
Debtors				18	45„756
Cash at bank and	in hand				1„762,799
							1,220,503
Creditors: amounts	falling due within one
year				19	{254,744}		(544,844)
Net current assets
Total assets less	current liabilities					1,719,985		1,017,812
Creditors; amounts	falling due after more
than one year								(f59,7ff)
Net assets excluding		pension	liability			1,719,986
Defined benefit pension		scheme	liability			{6,005,457)
Total net liabilities						{4,286,472}
Charity funds
Restricted funds						808,929
Llnrestricted funds						{5,094,401)		{'6,262,533}
Totai funds						{4,285,472)

			Unrestricted	Total
			funds	footle
			2021	2021
			E
Grants snd donations			544,525	644,625
University	Block	Grant	1.829,144	1„829,144
HIVIRC Furlough		Scheme	25,483	26,483
Donation	ofserviced accomodation		626,615	628,615
			3,025,767	3,026,787
			Unrestricted	Total
			funds	furr&ye
			2020	2020
				8
Grants and donations			230,443	230,443
University	Block	Grant	5,644,594	5,844,594
HMRC Furlough		Scheme	205,?20	205,720
Donation	ofserviced accomodation		824,000	824,000
			2,904,757	2,904,?57

		Restricted	Unrestricted	Total
		funds	funds	funds
		2021	2021	2021
		F	6	6
Societies, activities	and volunteering			236,418
Licensed trade and	entertainments			35,514
Catering			26,072	26,072
Retail			62,494	52„494
Nightiine
Sale ofcommercial	activities
		236,418	568,664	805,082
		Ftestricted	Unrestricted	Total
		funds	funds	funds
		2020	2020	2020
Societies, activities	and volunteering			970,048
Licensed trade and	entertainments		577,248	577,248
Catering			718,66f
Retail			482,037	482,037
Nightline				1,700
		971,748	1,777,946	2,749„694

	Commercial	marketing	and	sponsorship
	Commercial	marketing	and	sponsorship
7.	Investment	income

Unrestricted	Total
funds	funds
2021	2021
	6
Unrsstrrcted
funds
2020
233,462	233,462

Unrestricted	Total
funds	funds
2021	2021
6	6
	Total
	funds
	2020
	6

					Unrestricted	Total	Total
					funds	funds	funds
					2021	2021	2620
						K	E
Profit	on	disposal	offixed	assets

		Restricted	Unrestricted	Total
		funds	funds	funds
		2021	2021	2021
		6	E	6
Advertising	and marketing		870	870
Legal and Professional			4,173	4,173
Other costs			16,843	16,843
Project costs			6,183	6,183
Staff costs			45,924	45,924
Depreciation		375	1,915	2,290
		375	75,908	76,283

		Unrestricted	Total
		funds	funds
		2020	2020
Advertising	and marketing	9,016	9,016
Legal and Professional		970	970
Other costs		35,505	35,505
Project costs		15,043	15,043
Staff costs		34,499	34,499
		95,033	95,033

			Restricted	Unrestricted	Total
			funds	funds	funds
			2021	2021	2021
			6	8	6
Representation		and advice		715,641	719,019
Societies, activities and volunteering			242,874	940,437	1,183,311
Campaigns	and	communications	1,588	365,596	367,284
Commercial	activities		1,032	517,763	518,815
			248,972	2,539,457	2,788,429
			Restricted	Iinrestricted	Total
			fuses	funds	funds
			2020	2020	2020
Representation		and advice		1,039,474	f,039,474
Societies, activities and volunteering				1,604,546	2,594,935
Campaigns	and	communications		436,706	436,T05
Commercial	activities			3„4T9,761	3,479, 761
			990,367	6,550,489	T,550,876

						Total
			Staff costs	Depreciation	Other costs	funds
			2021 6	2021 f	202"I 6	2021 E
Representation		and advice	434,239	33,215	251,565	719,019
Societies, activities and volunteering			300,590	49,457	833,264	1„183,311
Campaigns	and	communications	231,722	10,325	125,237	367,284
Commercial	activities		156,810			518,816
			1,123„361	112,416	1,552,652	2,788,429
						Total
			Staffcosts	Depreciation	Other costs	funds
			2020	2020	2020	2020
			2		6	e
Representation		and advice	358,132	23,364		'/,039,474
Societies, activities and volunteering			359,838	72,012	2,163,085	2,594,935
Campaigns	and	communications	168,419	2,691	265,596	436,T06
Commercial	activities		$,014,328	T1,189	2,394,244	3,4T9, 76'l
			1,900,717	169,256	5,480,903	T,550.876

			Activities
			undertaken	Support	Total
			directly	costs	funds
			2021	2021	2021
			E	E	E
Representation		and advice		381,023	719,019
Societies,	activities and volunteering			743,557	1,183„311
Campaigns	and	communications		168,670	367,284
Commercial	activities			195,320	518,815
			1„299,859	1,488,570	2,788,429

			Activities
			underfairerI	Support	Total
			direciiy	casts	fIInds
			2020	2020	2020
				E
Representation		and advice	344,64?	694,827	5,039,474
Societies, activities and volunteering			1,234,201	1,360,734	2,594,935
Campaigns	and	communications	189,897	246,809	436,706
Commercial	activities		1,981,761	1,498,000	3,479,761

	Representation	Socletles and	Canlpalgns	anti	Commercial	Total
	and advIce	volunteering	communications		activities	funds
	2021	2021		2021	202'I	2021
	E	E		E	E	E
Staff costs		133,658	149,894		98,696	641,668
Depreciation		36,774				64,454
Direct costs of
activities		269,322
	337,996	439,754	198,614		323.495	1,299,859

	Representation	Societies and	Campaigns and	Commerciei	Total
	and advice	voiunteering	communications	activities	funds
	2020	2020	2020	2020	2020
Staff costs	253,126		131,120	787,941
Depreciation	15,788			54,857
Direct costs of
activities		1,022,829	58,777	1,138,963	2,296,302
	344,647	1,234,201

		Societies,
	Representation	activities and	Campaigns	and	Commercial	Totai
	and advice	volunteering	communications		activities	funds
	2021	2021		2021	2021	2021
		8		6	8
Staff costs	174,819	166,932			58,114	481,693
Depreciation	17,790	12,683				47,962
Rent	59,260	470,452		6,447	84,129	620,288
ICTcosts	12,207	18,106		5,061		40,110
Insurance	7,179	3,361			2,734	17,666
Legaiand professional	32,024	15,425	19,688		12,764	79,901
Other costs	40,231	34,892				1'I7,876
Protect. costs	11,516				1,098	22,379
Governance	26,567	16,848	14,904		3,888	82,207
SUSS pension	(670)	(502)		(265)	(173)	(1,610)
			168,670		195,320	1,488,670

			Societies,
		Representation	activities and	Campaigns and	Com marcia/
		and advice	voiunie ering	communications	activities
		2020	2020	2020	2020
		6			8
Staff costs		105,006	205,642	37,299	226,387	574,334
Dept'acfatl 0rl		?,576	14,836		16,332	41,435
Rent		155,156	303,849	55,112	334,499
Advertising	and
marketing					874	1,812
ICTcosts					6,385	16,198
Insurance					9,480	24,050
Legal and
pl'ofessfonai			14,961	2,714		41,782
Other costs		29,298	58,583	10,283		158,434
Project costs			11,714			32,716
Govsrnaflce		6,388	12,511	2,269		34,94'I
SUSS Pension		370,425		131,578		2,026,052
		694,827	1,360,734	246,809	1,496,000	3,800,370

Staffcosts
			2021
Vyages and salaries			1,056,692	1,774,216
Social security costs			78,855	f1f.000
Pension costs - defined	contribution	schemes	33,738	50,000
			1,169,286	f,g35,216

Commercial	marketing
Charitable	activties
Governance

Commercial	marketing
Charitable	activities
Governance

S Blake	Remuneration		20,200	1,721
R Jones	Remuneration		18,256	1,'721
	Pension contributions	paid	474
0 Harvey	Remuneration		20,200	20,549
0 Margaroii	Remuneration		1,588
M Ojua	Remuneration		'I,588
I Harrison	Remuneration		1,588
I Enoizi	Remuneration		1,588
H Chau Dinh	Remuneration		20,200

		Fixtures,
	Ploperty	Fltt}ngs and	iyiusicai
	Improvements	Equipment	instruments	Total
	6		6	6
Cost or valuation
At 1 August 2020	'I,338„149	958,000	391,321	2,687,470
Dispose}a	(503,351)	(782,074}	(1,984}	(1„287,409)
At 31 July 2021	834,798	175,926	389,337	'l,400,06"I
Depreciation
At 1 August 2020	1,232,325	888,499	226,937	2,347„761
Charge for the year	62,930	28,677	33,098	114,705
On disposais	(482„742)	(750,392)	(3,000)	(1,236,134)
At 31 July 2021	802,513	'i66,784	257,035	1,226,332
Net book value
At 31 July 2021
At3(July 2020	f05,824	69,50t	454,384	339,709

		Exeter Students*
		Guiid Trading
	Aft Collection	Limited	Total
		8
Cost or valuation
At 1 August 2020	2,444
At 31 July 2021
Net book value
At 31 July 2021	2,444	1	2,445
At 31July 2020		1	2,445

17.	Stocks
			2021	2020
			8
	Finished goods and goods for resale			122,808
18.	Debtors
			2021
			8
	Due within one year
	Trade debtors		23,518	18,179
	Other debtors			8,608
	Prepayments	and accrued income	22,240	52,773

			As restated
			2020
Bank overdrafts			15
Trade creditors		43,619	44,874
Other taxation and social security		8,151	178,660
Other creditors		31,161	36,613
Accruals and deferred	income	170,923	284,662
		264,744	544,844

					As restated
				2021	2020
				F	5
Social security and		other taxes
Accruals	and deferred income
Deferred	income at 1 August 2020			153,943
Resources deferred		during the year		85,926
Amounts	released	from previous	periods	(163,943)

Statement of	funds	- curren	t year
			Baiance at 1			Transfers	Balance at
			August 2020	Income	Expenditure	inlout	31July 2021
			6			8	6
Unrestricted	funds
General Funds			36„243	3,783,497	(2,617,982)	{290,702)	911,066
Pension Reserve			(6,298,778)		2,617	290,702	(6,005„457)
			(6,262,533)	3,783,497	(2,616,355)		(5,084,401)
Restricted funds
Annual Fund			21,619	22,518	(22,489)		21,678
Club and Society Funds			550,065	213,900	(165,232)		598,733
Nightiine			1„500				1,600
Teaching and	Excellence
Framework			72„891		(19,176)		53„715
Green Fund			1,000				1,000
Musical instruments		fund	165„401		(33,098)		132,303
Other capital projects		fund	9,382		(9,382)
			821,868	236„418	(249,347)
Total offunds			{5,440,675)	4,019,916	(2,864,712)		(4,285,472)

				Balance at
				1August			Transfers	Balance at
				2019	income	Expenditure	inlout	31July 2020
				6		6
Unrestricted	funds
General Funds					4,916,000	(4,640,757)	(242,000)	36,243
Pension Reserve						(2,025,776)	276,000	(6,298,776)
				(4,546,000)	4,916,000	(6,666,533)	34,000	(6,262,533)
Restricted funds
Annual Fund				2,000		(33,000)
Club and Society Funds						(824,000)
Activity Hub Development			fund	50,000		(50,000)
Nightline
Teaching and	Excellence
Framevvork				91,000				72,891
Green Fund				35,000				1,000
Musical Instruments		fund		212,000		(46,600)		165,400
Other capital projects		fund		18,000		(8,617)		9,383
				863,000	973,184	(980,326)	(34,000)	821,858
Total offunds				(3,683,000)	5,889,184	(7,646,859)

				Balance at 1	Balance at 1				Transfers	Balance at
				August	2020	Income		Expenditure	iniout	31 July 2021
					8		F		K	K
General	funds			(6,262,533)		3,783,497		(2,615,385)		(6,094,401 )
Restricted		funds		821„868		236,418		(249,347)		808,929
				(5„440,675)		4,019,915		(2,864„712)		(4,285,4'72)
Summary		offunds - prior year
									Trans(ers	Balance ai
						income		Expend(tare	(n/oui	31Juiy 2020
										6
General	funds			(4,546,000)		4,916,000		(6,666,533)	34,000	(6,262,533)
Restricted		funds		863,000		973,	f64	(980,326)	(34,000)	82'I,858
				(3,683,000)		5,689,	184	(7,646,859)
Analysis		of net assets	between	funds
Analysis		of net assets	between	funds - current		year
								Restricted	Unrestricted	Total
								funds	funds	funds
								2021	2021	202'I
								8		8
Tangible	fixed assets							132,303	41,426	173,729
Fixed asset investments									2,444	2,444
Trade investments
Current	assets								1,121,929	"l,798,556
Creditors		due within one year							(254,744)	(264,744)
Provisions		for liabilities	and charges						(8,005,457)	(6,005,457)
								806,929	(5,094,401)	(4,285,472)

							Restricted	Un/'esif'/cfed	To/a/
							funds	funds	funds
							2020	2020	2020
							Z	8	8
	Tangible fixed assets							164,926	339,709
	Fixed asset investments							2,444	2,444
	Current assets							282,338	1,220,503
	Creditors due within one year							I'544,844)	(544,844)
	Creditors due in more than one year							(159,711)	(159,711)
	Provisions for liabilities	and charges						(6,00?,886)	(6,298,776)
25.	Reconciliation ofnet	movement	in funds to		net	cash flow	from operating	activities
	Net income/expenditure	for the	year	(as	per	Statement	of Financial
	Activities)							1„155,203	(1,757,577)
	Adjustments for:
	Depreciation charges							114,705	228,500
	Interesi received							(7)	(419)
	Profit on the sale offixed assets							(91,888)
	Decrease in stocks							"I22,808	21,100
	Decrease in debtors							34,403	118,200
	Decrease in creditors							(241,255)	(270,988)
	increase/(Decrease) in	pension deficit contribulicn				liability		(502,475)
	ffet cash provided by	operating	activities					59'I,894	88,316

		2021	2020
Cash	in hand	1,752,799	L018, f35
Total	cash and cash equivalents	1,7M,799	f,Of 8,135

					At 1 August		At 31July
					2020	Cash flows	2021
					8		8
Cash	sl bank snd		in hand		1,018,135		1,7M,799
Bank	overdrsfts	repayable		on demand	(15)
					1,018,'I 20	734,679	1,762,799

Not later than 1 year	Not later than 1 year	19„305	36,000
Later than	1 year snd not later than 5years	60,776	83,000
Later than	5years		3f,000
		80,081