##
##
|Reference and administrative|Reference and administrative|details ofthe|Company,|its Trustees and advisers|
|---|---|---|---|---|
|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|auditors|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|||
##
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|||||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||
##