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2022-07-31-accounts

•*, Kings Colleg¢ London Student¥ Unlon Annual Report and Aeeounts fort￿ y•ar ended 31 July 2022 KCLSU Annual Report 21/22 Cofrr•ny R¢8lst•rnd Numb•n. 5762196 P4sl5te￿d Chw+ty Number. 1136729 kclsu Our Studenw u￿¢￿

A fvture where every member of KCLSU has the opportunity to thrive. We're KCLSU (King's College London Students, Union). Every student at King's is automatically a member of KCLSU. Together, with our members, we are a union of students where individuals connect, have fun, build communities, share experiences, and make change. We're here to make sure every King's student has the best student experience possible. We're run by students, for students. Our decisions, policies and what we do are shaped by our 30,000+ student members. As a democratic charity and membership organisation, students lead us at every level to achieve our priorities.

Contents 04050613 Introduction from the KCLSU Presldent A note from the Chief Executive Structure & vemance Trustees, report 15232630 Our ¢or• 5trateglc thwnes Statement of finaneial actlvltles & balance Cons¢lldated statements Notes of the finani¢al StsterY*Ents 444651 The year In ApporKIIx Auditor Rep3rt

Structure & governance .r l a;Llk

Structure, As set out in the Articles ofAssociation,
reviewed
and updated
in 2019,KCLSU is governed
Governance, Risk by a Board ofTrustees; the Trustees are also Directors ofthe charitable
company,
limited
and Management by guarantee
and registered
in England
and Wales. The Directors will be called Trustees for
the purposes ofthis report. Two thirds ofthe Board are current students of King's College
London during their term ofoffice, and are elected bythe members ofKCLSU annually.
Student Trustees during the period ofthis report were elected for terms ofup to one year.
There are also four non-student
Trustees on the Board (Lay Trustees) who are appointed
fortheir particular
professional
knowledge
and skills. Appointed
Trustees may serve for an
initial term offour years, renewable
for one further term offour years. Full details ofcurrent
Trustees and those who served
in 2021/22 and who joined or left the Board in the period
from 31July 2021to1August 2022,together with the organisation's
principal advisors
can be found
in the Legal and Administrative
Information
section ofthis report. All Trustees
undertake
an induction
programme
and are given briefings
on the organisation's
operations
and goals. The induction
covers the role ofaTrustee, provides an understanding
ofthe legal
responsibilities
ofbeing aTrustee and Company
Director and, through
meeting key Board
and Management
Team members,
provides an appreciation
ofKCLSU's vision, mission
and values and the relationship
between Trustees and the Executive. Newly elected or
appointed
Trustees are invited to attend one or more Board meetings
before taking up their
positions. The Trustees are responsible
forthe overaLL performance
and strategic direction
ofKCLSU on behalf ofits members
ofover 44,000students ofKing's College London.
In
this respect the Board undertakes
self-assessment
and further development
initiatives
as required,
ensuring that they work to high standards.
An effectiveness
survey was
conducted
in June 2022 to enable Trustees to self-appraise
Board performance
during the
year ended 31July 2022. In addition, annual
Board skills, competencies
and demographics
surveys are conducted
in bne with Charity Commission
best practice.
Financial Companies Act present their combined directors' report and trustees'
report, as required
Statements by company
law, together with the audited financial statements
ofKing's College London
Students'
Union forthe year ended 31July 2022.The trustees confirm that the trustees'
report and financial statements
ofKCLSU comply with the current statutory
requirements,
the Memorandum
and Articles ofAssociation, the provisions ofthe Statement ofRecommend
Practice (SORP) "Accounting and Reporting by Charities" applicable to charities preparing
their accounts
in accordance with the Financial Reporting Standard
app(icab(e inthe UKand
Republic ofIreland (FRS102)(effective 1January 2015)and the Education Act (1994).
Charity Status King's College London Students'
Union isa registered
chanty, number 1136729,and
acompany
limited
by guarantee,
number 5762196.King's College London Students'
Union is governed
by its Articles ofAssociation.
King's College London Students'
Union
operates as KCLSU. KCLSU Ltd, awholly owned subsidiary of KCLSU, was incorporated
on 12August 2009.The accounts ofthe subsidiary
are consolidated
within the annual
accounts forthe Union.
Charity Objects The Charity's Objects are to advance the education ofstudents at King's College London
forthe public benefit,
in particular
by: promoting the interests
and welfare ofstudents
at King's College London during their course ofstudy and representing,
supporting
and
advising students;
being the recognised
representative
channel between students
and
King's College London and any other external bodies; and providing
social, cultural,
sporting and recreational
activities and forums for discussions
and debate forthe personal
development
ofstudents.
Registered Office KCLSU, Bush House, 300Strand, London, WC2R 1AE

The role ofthe Student Officers isto represent students at King's College London and
to influence change within
KCLSU, at King's College London and externally		 via the
National
Union		 ofStudents. The Student Officers, who are also Trustees, are elected by
the students ofKing's College London and are led by the President. The Student Officers
serving during the period ofthis report are shown below:
During the year During the year
2021/22 2022/23
President Gul-E-Zahra
(Zahra)		 Mohr Yasir Khan
Syed
Vice President for Education Hamza Lone Sara Osman Saeed
(Arts and Sciences) Vice President for Welfare
and Community
Vice President		 Activities and
Development
Vice President for Education
(Health)
Vice President for Postgraduates Daniyal Ubaidullah Martina Chen
Vice President Activities and Development Arsian Zafar Tejveer Singh Nag
Vice President for Education
(Health)		 Fatimah Patel Julia Kosowska
Vice President for Postgraduates Rebecca Seling Shagun
Bhandari
Communications
Sub-Committee
was dissolved
by the Boa
The Chair ofthe Board ofTrustees 2021/22 —Gul-E-Zahra		 Communications
Sub-Committee
was dissolved
by the Boa
The Chair ofthe Board ofTrustees 2021/22 —Gul-E-Zahra		 Communications
Sub-Committee
was dissolved
by the Boa
The Chair ofthe Board ofTrustees 2021/22 —Gul-E-Zahra		 Communications
Sub-Committee
was dissolved
by the Boa
The Chair ofthe Board ofTrustees 2021/22 —Gul-E-Zahra		 rd in December
(Zahra) Syed		 2021.
Vice-Chair ofthe Board ofTrustees —Sonika Sidhu
Term started Term Ended Sub-Committee membership
Sonika Sidhu 5/11/2015 Vice-Chair of Board; HR Chair
Julie Clarke 31/10/2019 FAR Chair
Nazreen
Visram		 1/03/202 1 Performance Chair
Marcus Lee 28/07/2021 GPC Chair
Gul-E-Zahra (Zahra) 01/08/21 15/07/2022 President,
Chair of KCLSU; Ex-
Syed officio member of:GPC, FAR,
Performance, HR
Hamza Lone 01/08/2 1 31/07/2022 Vice President for Education
(Arts and Sciences), FAR, GPC
Daniyal Ubaidullah 01/08/21 31/07/2022 Vice President for Welfare
and Community, GPC,
Performance
Arslan Zafar 01/08/21 1/7/2022 Vice President Activities and
Development,
Fatimah Patel 01/08/21 31/07/2022 Vice President for Education
(Health),
FAR,		 HR, GPC
Rebecca Seling 01/08/21 31/07/2022 Vice President for
Postgraduates,
Abdus Shaik 1/11/21 6/4/2022 Student Trustee, HR,
Performance
Amy Lock 1/11/21 31/7/2022 Student Trustee, FAR,
Performance
Hania Hussain 1/11/21 31/7/2022 Student Trustee, HR, GPC
Zayna Aslam 1/11/21 31/7/22 Student Trustee, FAR and GPC

Trustees, report la￿.

Our core strategic themes IJS

Statement of financial activities & bal(mce sheet 23

KCLSU Annual Repor t: 2021/22
Income Unrestricted
income forthe year wasf10,505k, an increase off1,970k(23%)compared to
the previous year. The increase was primarily
due toaF1,509k increase
inthe commercial
and other income after most COVID-19 restrictions
were removed. There was also af461k
increase
in the grant fund received from King's College London, including af310khigher
in-kind space donation
in 2021/22.
Costs Total expenditure
from Unrestricted
funds for the year increased
byf2,402k (30%)to
f10,303k,ofwhich f1,121kcorresponds
with the increasing
spending
on Commercia(
activities, with afurther f1,145k is attributed tothe growing support ofstudent
representation
and student activities groups.
Unrestricted The outcome forthe year was an operating
surplus off202k, primarily
due tothe increase
outcome in funds
in line with the need for resources to bounce back to pre-covid
leveL Increase
in
Commercial activities was also acontributor,
and the fact that our Commercial
operation
reached abreak even position
in 2021/22.
Restricted funds Comprise monies held for student activity groups (ratified clubs and societies, which are
branches ofKCLSU) and grants received from King's College London for specifically for
student-facing
projects. During the year these societies received f834k in income against
which they spent F922k resulting anetf87k deficit which was entirely related tothe
additional
spending
from the student activity groups.
Fixed assets The value of KCLSU's fixed assets increased
marginally
byfBkdue to upgrading
the EPOS
terminals
and sogftware for commercial activities.
Investment We have invested f750k in Newton
Charity Investment
Fund in 2021,which has been
adversely aIIffected the bythe macroeconomical
impacts ofthe war in Ukraine
including a
high inflation
environment.
As a result, the value ofthe investment
was reduced
by F10kat31
July 2022.
Non-restricted
reserves		 The General Reserve available to fund operations was F1,797kat the year-end,
excluding
the long-term
pension
liability off1,016k.Core operating costs are calculated as a sum
ofthe direct costs ofstudent
representation,
communications
and student
activities
plus the proportion
ofoverhead
support costs, excluding the college space charge, which
amounted
tof3,617k in 2021/22. However,
given that the equivalent
cost is expected to
increase beyond pre-pandemic
level off3,934k in 2022/23, our position at 31July 2022
is equivalent
of5.5 months ofreserves. This is in line with KCLSU's reserves policy which
stipulates that general reserve should be maintained
in the range ofthree to nine months
ofcore operating costs. We have also developed a long-term
financial strategy to manage
the reserve level more effectively.
Defined benefit
pension scheme		 Based on the last actuarial valuation
conveyed
in 2019, KCLSU's overall deficit liabilities
decreased
by F63k, including f72kofcash payments
in ayear to F1 095k in 2021/22.
The annual contribution
tothe scheme is scheduled to by an additional 5% in 2022/23
to eliminate the deficit over the next thirteen
years. The new valuation
ofthe scheme is
expected
in June 2022 and will be published
in early 2023.Due tothe ongoing Ukraine
War and other macroeconomic
factors, the investment
markets adversely affected.
Hence, we anticipate
an increase in our SUSSpension
liability have been beyond the
scheduled
increase
in 2022/23.
Given that the actuarial evaluation
is due every three years, in between years, we had
been consistently
using a 2.5%discount rate to adjust for potential
liabilities
in the Annual
Reports. Due to recent Bank ofEngland
(BOE)base rate increases, we adopted a moderate
increase
in our discount rate to 2.75% in 2021/22. This is expected to reduce fluctuation
ofadjustments
between years as aconsiderably
higher discount rate would have
materially
reduced the Present Net Value offuture liabilities, translating to asignificant
gain in the 2021/22 account.

Risk The Trustees are responsible
for KCLSU's risk management
and the effectiveness ofinternal		 The Trustees are responsible
for KCLSU's risk management
and the effectiveness ofinternal		 The Trustees are responsible
for KCLSU's risk management
and the effectiveness ofinternal
management controls. On behalf ofthe Trustees, the Senior Leadership
Team review major risks and the
mitigating
measures. The ongoing management
ofrisk isoverseen
by the Finance, Audit &
Risk Committee,
with each ofthe other three committees
reviewing
related items ofrisk on
atermly basis.
The impact ofthe Covid-19 pandemic remained a risk during 2021/22. This continued
toaffect all areas ofKCLSU's operations,
including commercial
activities, and student
experience plans despite returning largely to in-person events from September 2021.KCL
provided
an additional
fund ofE131kon top ofthe Core Grant to enhance the student
experience and to support the provision ofnew staff roles to address the need for student
wellbeing. These funds also subsidised the award-winning
Cultural
Ball held in March 2022.
Other key risks identified atthe year end 31July 2022 were:
Risk Mitigation
Delays
in block grant discussions		 KCLSU Board requested
further discussion
with
with KCL leads to inability to KCLto request for confirmation
ofongoing financial
develop key services for 2022/23 commitment
tothe Union to enable approval ofthe
budget for 2022/23.
Additional
discussions to be
held with KCL during 2022/23 to update the funding
model forthe annual grant and to negotiate athree-
year funding
model to enable longer-term
strategic
planning
in support ofKCLSU members.
Loss ofstaff with significant People Strategy
in place including staff learning
and
knowledge
ofthe organisation		 development
and knowledge
sharing for business
affects service delivery continuity.
Business reorganisation
completed.
Lack ofteamwork
and disrespectful		 Experienced staff in place to support officer team;
Inappropriate
behaviour
between		 learnings from 2021/22 incorporated
into inductions
sabbatical officers leads to and new mentoring
arrangements
for individual
and
breakdown
in working
relations		 team support for 2022/23.
Increase
in complaints
due to		 New Flow we Keep You Safety on Campus / Working
bullying
&sexual misconduct		 to keep you safe web resources; new online "trauma
between students.
Risk ofdrink		 informed" online complaint
reporting
and updated
spiking. policies. Wellbeing
Monitors
in place to identify
and support vulnerable
students
in KCLSU licensed
spaces; assistance
with medical help and getting
home safely as needed; follow up checks on wellbeing.
Gold award for Best Bar None accreditation.
Industrial
action on campus leads		 Close liaison with KCLfor advance warning of
to increase
in members'
complaints		 potential
strike action to plan resources around
against
KCL and increased
use of		 student needs.
KCLSU advice &support service

Consolidated Statements for the year ended 3 1 July 2022 26

King's College London Students' King's College London Students' Union (registered Union (registered company company no.05762196) no.05762196)
onsulir'aced
Scatenient of I inaricial Activities		 (Incorooi. '.ing the Income and i . nditure Account)
Forthe year ended 31July 2022
Unrestricted Restricted Total Total
Notes funds 2022 (E) funds 2022 (E) 2022 (E) 2021(E)
Income and Endowments from:
Donations
and Legacies
King's Cogege London Grant 2 8,540,566 131,075 8,671,641 8,238,780
Charitable
Activities
Student community
venues		 3 1,096,488 1,096,488 54,599
Student activity groups 703,610 703,610 254,550
Other activities
Sponsorship
income		 33,250 33,250 31,633
Subsidiary
Trading Company		 780,243 780,243 206,555
Events and other generated income 54,268 54,268 157,910
investments
Interest receivable 3,526
Total income 10,504,815 834~685 11~339y499 8~947s553
Expenditure
on:
Raising funds
Sponsorship
expenditure		 156,871 156,871 45,842
Subsidiary
company
expenditure		 5 633,829 633,829 182,861
Charitable
activities
Student community
venues		 3 3,220,950 3,220,950 2,550,568
Student representation
Btcommunication		 7 3,155,186 98,979 3,254,165 2,785,680
Student activity 8 2,911,511 32,096 2,943,607 2,314,456
Student activity groups 9 205,149 790,842 995,991 319,121
Other
Investment
Loss		 10,166 10,166
Pension costs—past service deficit 10 9,112 9,112 35,267
Total Expenditure 10,302,774 921s917 1ls224~691 8~233&795
Net income/(expenditure) forthe year 202,041 (87,232) 114,809 713,758
Reconciliation offunds
Total funds at01August 2021 607,162 711,682 1,318,844 605,086
Total funds at31July 2022 809s203 624y450 1~433s653 1~318~844
Cense(icated
Ba an
As at 31July 2022		 ce Sn t
Parent Group Parent Group
Notes 2022 (8) 2022 (6) 2021(6) 2021(8)
Fixed assets
Tangible assets 14 107,259 107,259 99,030 99,030
Investments 740,403 740,403 569 568
847,662 847,662 99,599 99,598
Current assets
Stocks 112,828 112,828 109,009 109,009
Debtors 15 277,832 437,946 87,128 87,128
Cash at bank and in hand 2,631,625 2,657,048 3,057,263 3,063,125
3,022,283 3,207,822 3,253,400 3,259,262
Creditors: amounts
within one year		 falling due 16 (1,585,833) (1,605,393) (970,969) (957,967)
Net current assets 1&436&452 1&602&429 2&282&431 2&301&995
Creditors: amounts
after one year		 falhng due 17 (1,016,438) (1,016,438) (1,082,749) (1,082,749)
Total net assets 1&267&676 1&433&653 1&299&281 '1&318&844
Funds
Unrestricted
funds:
Designated
capital fund		 19 107,259 107,259 99,030 99,030
Pension fund 19 (1,095,443) (1,095,443) (1,157,992) (1,157,992)
General fund 19 1,631,410 1,797,387 1,649,561 1,666,124
643,226 809,203 587,599 607,162
Restricted funds 19 624,450 624,450 711,682 711,682
1&267&676 1&433&653 1&299&281 1&318&844
King's College King's College London Students' London Students' Union (registered
company
no.05762196)		 Union (registered
company
no.05762196)
Consolidated Cash Flow Stsi. ment
As at31July 2022
2022 (8) 2021(8)
Cash flows from operating activities
(Deficit)/surplus forthe financial year 114,809 713,758
Adjustments for: Depreciation 58,392 117,908
Decrease/(increase) in stocks (3,819) (49,088)
(Increase)/decrease in debtors (350,818) 360,660
(Decrease)/increase in creditors 644,363 461,106
Increase
in provision
Service Deficit		 for Pension Past (62,549) (27,483)
Investment
income		 (3,526)
400,378 1,573,335
Cash flows from investing activities
Purchase oftangible fixed assets (77,979) (131,774)
Disposal oftangible fixed assets 11,358
Losses on the investment 10,166 3,526
Fundsinvested
in a		 year (750,000)
(806y455) (128r248)
Net increase in cash and cash equivalents (406,077) 1,445,087
Cash and cash Equivalents at 01August 2021 3,063,125 1,618,038
Cash and Cash Equivalents at31July 2022 2,657,048 3,063,125
Components ofcash and cash equivalents
At 1August 2021		 (8) Cashflowe (8)
At31July 2022 (8)
Cash at bank and in hand 3,063,125 (406,077) 2,657,048
Major non-cash transactions NIL NIL

Unrestricted Unrestricted Restricted Totalfunds Totalfunds
funds 2022 (E) funds 2022 (f) 2022 (E) 2021(E)
Core grant 4,400,004 4,400,004 3,999,996
Donated space
from college		 4,140,562 4,140,562 3,830,312
Other grants 131,075 131,075 408,472
8,540,566 131,075 8,671,641 8,238,780
Unrestricted Restricted Totalfunds
funds 2021(E) funds 2021(E) 2021(E)
Core grant 3,999,996 3,999,996
Donated space
from college		 3,830,312 3,830,312
Other grants 250,000 158,472 408,472
8,080,308 158,472 8,238,780
Other grants are for restricted purposes.
Income Expenditure Total Total
2022 (E) 2022 (E) 2022 (E) 2021(E)
Sales 941,794 941,794 54,124
Less:cost ofsales (296,711) (296,711) (50,285)
645,083 3,839
Add: brewers discounts 180 180 6,061
Gross profit 645,263 9,900
Other income
Entertainment income 137,038 137,038 (1,044)
Games machines
income		 BB BB
Others 17,568 17,568 1,519
Direct costs
Staffcosts (675,943) (675,943) (417,404)
Other costs (209,150) (209,150) (70,996)
Indirect costs (85,136) (478,025)
Support costs
(note 11)		 (2„039,326) (2,039,326) (2,017,944)
1,096,488 (3,220,950) (2,124,462) (2,495,969)
4.Sponsorship
income		 Unrestricted
funds 2022 (E)		 Restricted
funds 2022 (E)		 Total funds
2022 (E)		 Total funds
2021(E)
Marketing
and
sponsorship		 24,361
Welcome fair 33,250 33,250 7,272
33,250 33,250 31,633
Unrestricted Restricted Total funds Total funds
funds 2021(E) funds 2021(E) 2021(E) 2021(E)
Marketing
and
Sponsorship		 24,361 24,361
Welcome Fair 7,272 7,272
31,633 Nil 31,633
5.Subsidiary
tI'adlng		 KCLSU limited Income
2022 (E)		 Expenditure
2022 (E)		 Total
2022 (E)		 Total
2021(E)
company Venues
Sales 186,271 186,271 3,081
Less:cost ofsales (38,864) (38,864) (1,540)
Profit 147,407 1,541
Shop
Sales 593,972 593,972 203,474
Less:cost ofsales (297,976) (297,976) (101,737)
Profit 295,996 101,737
Administrative
expenditure
Permanent staff costs (102,824) (102,824) (36,843)
Temporary staff costs (75,909) (75,909) (25,332)
Other costs (39,032) (39,032) (17,409)
Management
charge		 (79,224) (79,224) (4,131)
(296,989) (296,989) (83,715)
'Total 780,243 (633,829) 146,415 19,563
Retained Profit b/f 19,563 992
Gift Aid 992 (992)
Retained profit
carried forward		 166,969 19„563
6.Events Totalfunds Totalfunds
and other 2022 (E) 2021(E)
generated
income		 Unlocking
London		 3,685
NUS card sales 1,569 210
Ticket sales 26,106 4,796
Rental income and premise hire
Other income 26,593 149,211
54,268 157„910
7.Student
representation 2022 (E) 2021(E)
and
communication		 Student officer salaries 180,285 192,297
Other staff costs 609,486 522,604
Subscriptions and affiliation fees 43,193 48,190
Other direct costs 68,132 29,016
Support costs (note 11) 2,353,069 1,993,573
3,254,165 2,785,680
8.Student
activity 2022 (E) 2021(E)
Staff costs 845,059 764,018
Student Activity Group Development 518,228 67,561
Volunteering
Project		 1,999 1,942
Student
Hubs		 9,608 11,365
Support Costs (Note 11) 1,568,713 1,469,570
2,943,607 2,314,456
9.Student
activities 2022 (E) 2021(E)
group Expenditure
from Grant Allocation		 205,149 145,018
Expenditure
from
Self-Generated
Funds		 790,842 174,103
995,991 3191121
Student Activity Groups are listed in Appendix.
Totalfunds Totalfunds
2022(f) 2021(f)
Full time staff salaries 2,486,513 2,169,870
Part time staff salaries 730,789 510,624
Social security costs 253,399 222,986
Pension costs
Current service costs 77,430 82,253
Past service deficit 9,112 35,267
Totalstaffcosts 3,557,243 3,021,000
Thea
r. ;a r cnthi)		 n ~.5 rof m.'ovi ss dur'rg rue per'od was:
2022 (f) 2021(f)
Permanent
staff		 73 64
Student staff 154 139
Totalstaff 227 203

2022 (f) 2021(f)
College space charge 4,140,562 3,830,312
Staff costs 1,076,394 1,027,233
Depreciation 52,798 117,908
Other 388,199 136,965
Facilities 143,760 143,638
Information technology 168,682 91,249
Marketing
and communications		 81,088 154,494
Provision for
deficit (note		 pension past service
18)		 9,112 35,267
Governance (note 12) 57,384 25,131
6,117,979 5,562,197

Totalfunds Totalfunds
2022 (8) 2021(8)
Auditors
remuneration		 14,563 12,000
Legal and professional fees 41,822 9,462
Trustee training 3,669
Board meeting and
trustee expenses		 999
57,384 25,131
Leasehold Leasehold
building Union equipment
Group and parent improvement (&) Tote((9)
Cost
At01August 2021 304,719 304,719
Additions 77,979 77,979
Disposais (16,952) (16,952)
At 31July 2022 365,746 365,746
Depreciation
At 01August 2021 205,689 205,689
Charge forthe year 58,392 58,392
Written offduring the year (5,594) (5,594)
At 31July 2022 258,487 258,487
Net book value
At31July 2022 NIL 107,259 107,259
At31July 2021 NIL 99,030 99,030
Depreoation
is charged to activities		 to which it relates. An amount ofEnii (2021 —E30,240) was charged to
direct costs and E52798(2021 - E117909)was charged to support costs.
Parent Group
Parent		 Group
2022 (8) 2022 (9)
2021(8)		 2021(8)
Trade debtors 271,734 437,712
34,274		 34,274
Due from King's
College London
Other debtors and
prepayments		 6,098 234
52,854		 52,854
277s832 437s946
87i128		 87s128
16.Creditors: Parent Group
Parent		 Group
amounts 2022 (5) 2022 (6)
2021(6)		 2021(6)
falling due
within one		 Trade creditors 446,824 446,824
290,829		 290,829
year Provision for Pension
Past Service Deficit		 79,005 79,005
75,243		 75,243
Other creditors 1,060,004 1,079,564
604,897		 591,195
1,585,833 1,605,393
970,969		 957,267
17.Creditors: Parent Group
Parent		 Group
amounts 2022 (5) 2022 (5)
2021(5)		 2021(5)
falling due
after one		 Provision for pension
past service deficit		 1,016,438 1,016,438
1,082,749		 1,082,749
year 1~016~438 1p016J438
1f082J749		 1~082~749
18.Provision for 2022 (5) 2021(5)
pension
past service
deficit		 Brought forward
Payments
made		 1,157,992
(71,661)		 1,185,475
(62,750)
Revaluation
ofpension scheme
Unwinding
ofthe interest		 9,112 35,267
1)095,443 1,157,992
Analysis
Due within one year 79,005 75,243
Falling due after more than one year 1,016,438 1,082,749
1,095,443 1,157,992

Transfers &
investment
Brought Incoming Resources gains/ Carried
forward (8) resources (8) expended (6) (losses) (8) forward (8)
Restrictedfunds
Student activity
groups		 618,000 703,610 (790,842) 530,768
Other student
activities		 93,682 131,075 (131,075) 93,682
Total
restricted		 711,682 834,685 (921,917) 624,450
Designated funds
Designated
capital fund		 99,030 61,027 (52,798) 107,259
Pension fund (1,157,992) 62,549 (1,095,443)
Total
designated		 (1i058i962) 61r027 9,751 NIL (988,184)
Summary offunds
Designated
funds		 (1,058,962) 61,027 9,751 (988,184)
Subsidiary's
funds		 19,563 780,243 (633,829) 165,977
General funds 1,646,561 9,663,545 (9,678,699) 1,631,410
607,162 10,504,815 (10,302,774) 809,203
Restricted
funds		 711,682 834,685 (921,917) 624,450
Total funds 1,318,844 11,339,500 (11,224,691) Nil 1,433,653
19.Statement =c... Para,
stat		 .ne st offw
's		 rC'32ri-2C1t' rC'32ri-2C1t'
offunds Transfers &
(cont.) Brought Incoming Resources investment
gains/		 Carried
forward (5) resources (5) expended (5) (losses) (5) forward (5)
Restricted funds
Student
activity groups		 537,553 254,550 (174,103) 618,000
Other student
activities		 93,682 158,472 (158,472) 93,682
Total
restricted		 631,235 413,022 (332I575) Nil 711682
Designated
funds
Designated
capital fund		 85,164 131,774 (117,908) 99,030
Pension fund (1,185,475) (35,267) 62,750 (1,157,992)
designated (1,100,311) 131,774 (35,267) (55,158) (1,058,962)
Summary offunds
Designated
funds		 (1,100,311) 131,774 (35,267) (55,158) (1,058,962)
Subsidiary's
funds		 992 206,555 (187,984) 19,563
General funds 1,073,170 8,196,202 (7,677,969) 55,158 1,646,561
(26,149) 8,534,531 (7,901,220) 607,162
Restricted
funds		 631,235 413,022 (332,575) 711,682
605,086 8,947,553 (8,233,795) Nil 1,318,844
20.Analysis of Fixed assets &
Net current		 Long term Reserve
net assets investments (5) assets (5)
liabilities (5)		 balance (5)
between Restricted
funds Student activity groups 530,768 530,768
Other student
activities		 93,682 93,682
Total restricted 624,450 624,450
Unrestricted
Designated
capital
fund		 107,259 107,259
Pension fund (79,005)
(1,016,438)		 (1,095,443)
General funds 740,403 1,056,984 1,797,387
Total unrestricted 847,662 977,979
(1,016,438)		 809,203
Totalfunds 847,662
1,602,429
(1,016,438)		 1,433,653
Unrestricted Restricted Total funds
funds 2021(E) funds 2021(E) 2021(E)
Income and endowments from
Donations
and legacies
King's College London grant 8,080,308 158,472 8,238,780
Charitable
activities
Student community
venues		 54,599 54,599
Student activities group 254,550 254,550
Other trading activities
Sponsorship
income		 31,633 31,633
Subsidiary trading company 206,555 206,555
Events and other generated income 157,910 157,910
Investments
Interest receivable 3,526 3,526
Total 8,534,531 413,022 8,947,553
Expenditure
on
Raising funds
Sponsorship
expenditure		 45,842 45,842
Subsidiary
company expenditure		 182,861 182,861
Charitable
activities
Student community
venues		 2,550,568 2,550,568
Student representation
and communication		 2,784,180 1,500 2,785,680
Student activity 2,157,484 156,972 2,314,456
Student activities group 145,018 174,103 319,121
Other
Pension costs —past service deficit 35,267 35,267
Total expenditure 7,901,220 332,575 8,233&796
Net (expenditure)
income for		 the year 633,311 80,447 713,758
Transfer between funds
Net movement
in funds		 633,311 80,447 713&758

Pa8￿ 43

KCLSU Annual Report. 2021/22 11 GS Page: 45

Appendix Pap46

11

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