•**,
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
P4sl5ted 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|
##
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Trustees, report
la.
Our core strategic
themes
IJS
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##
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
##
##
##
##
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