2021-07-28-accounts - Newcastle University Students' Union

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Contents				Page
Legal and administrative		information
Trustees' report				3-17
Statement ofTrustees'	responsibilities			18
Independent auditor's	report			19-22
Consolidated statement		offinancial	activities
Consolidated balance sheet				24
Charity balance sheet				25
Consolidated statement		ofcash flows		26
Notes to the consolidated		financial	statements	27-44

					Unrestricted	Unrestricted	Restricted	Restricted
					General	Designated	Restricted	Permanent	Total	Total
				Note	Fund	Fund	Funds	Endowment	2021	2020
					OOOO	OOOO	f000	OOOO	8000	f.000
Income and endowments			from:
Block Grant				2a	2,159				2,159	2,337
Grant income				2b	446				446	170
Trading services income				3a	876				876	2,344
Other services income				3b	35				576	225
Total					3,518		541	-	4,057	5,076
Expenditure on:
Charitable activities
Trading services expenditure				4	1,142				1,142	2,276
Support costs				4	2,308		309	220	2,839	3,039
Total					3,460		309	220	3,981	5,315
Net income/(expenditure)		before				(2)	232	(220)	76	(239)
unrealised gains
Net (losses)/ gains	on investments			9						(4)
Net income/(expenditure)					74	(2)	232	(220)	84	(243)
Transfers between	funds				(100)	100
Net movement in funds					(26)	98	232	(220)	84	(243)
Total funds brought	forward		at
3August 2020					287	17	264	10,171	10,739	10,982
Total funds carried	fotward		at
2August 2021					281	115	49B	9,951	10,823	10,739

			Note	2021	2020
				f000	f.000
Fixed assets
Tangible assets				10,360	10,701
Investments				59	51
				10,419	10,752
Current assets
Stocks —Goods held		for resale		103	121
Debtors			10	149	172
Cash at bank and	in	hand		1,462	868
				1,714	1,161
Current liabilities
Creditors —amounts		falling due within one year	11	(990)	(774)
Net current assets				724	387
Total assets less	current liabilities			11,143	11,139
Creditors —amounts		falling due after one year	12	(320)	(400)
Net assets				10,823	10,739
Restricted Funds
Permanent Endowment			14	9,951	10,171
Restricted Funds			14	496	264
Unrestricted Funds
General Fund			14	261	287
Designated Fund			14	115	17
Total Charity Funds				10,823	10,739

		Note	2021	2020
			oooo	EOOO
Fixed assets
Tangible assets Investments			10,108 59	10,370 51
			10,167	10,421
Current assets
Stocks - Goods held	for resale		56	76
Debtors		10	277	277
Cash at bank and in	hand		1,311	818
			1,644	1,171
Current liabilities
Creditors —amounts	falling due within one year	11	(813)	(758)
Net current assets			831	413
Total assets less current liabilities			10,998	10,834
Net assets			10,998	10,834
Restricted Funds
Permanent Endowment		14	9,951	10,171
Restricted Funds		14	496	264
Unrestricted Funds
General Fund			436	382
Designated Fund			115	17
TotalCharityFund	s		10,998	10,834

		Notes	2021	2020
			OOOO	6000
Cash flows from operating activities:
Net cash provided by operating activities		18	630	69
Cash flows from investing activities:
Purchase of property, plant and equipment			(36)	(432)
Proceeds from sales of investments
Purchase of investments
Net cash used in investing activities			(36)	(432)
Cash flows from financing activities:
Value ofnew loans obtained during the period				400
Net cash inflow from financing activities				400
Change in cash and cash equivalents in the	year		594	37
Cash and cash equivalents at the beginning	ofthe year		868	831
Total cash and cash equivalents at the end	ofthe year	19	1,462

				2021	2020
				f000	f000
Block grant from Newcastle		University		2,159	2,337
				2,159	2,337
GRANT INCOIIE
				2021	2020
				f000	f000
Coronavirus	Job Retention	Scheme grant		201	170
Other grant income				246
					170
TRADlNG SERVICES lNCOME
		Unrestricted	2021	2020
		f000	f000	f000
Bars		31	31	355
Shops		677	677	1,444
Events		4	4	278
Marketing		82	82	133
Other trading	activities	82	82	134
		876	876	2,344

	Unrestricted	Restricted	2021
	OOOO	f000	f000
Athletic Union		300	300
Activities		15	17
Access Agreement		88	88
Campus Sport		27	27
Media
Your Voice	25		25
Volunteering		40	48
Advocacy &Welfare		71	71
Bank interest
	35	541	5?6
OTHER SERVICES INCOME	PRIOR YEAR
	Unrestricted	Restricted	2020
	OOOO	6000	EOOO
Athletic Union
Activities	21		21
Access Agreement		90	90
Campus Sport	3	13	16
Media	11		11
Your Voice	9	42	51
Volunteering	5	38	43
Advocacy &Welfare
Bank interest
	42	183	225

	Direct	Indirect	Total
	Costs	Costs	2021
	EOOO	EOOO	EOOO
Bars	23	96	119
Shops	568	188	756
Events		42	53
Marketing		30	30
Other Trading Activities	23	59	82
Depreciation		92	92
Loan interest		10	10
	625	517	1,142

	Direct	Indirect	Total
	Costs	Costs	2020
	EOOO	EOOO	EOOO
Bars	138	190	328
Shops	1,103	331	1,434
Events	172	105	277
Marketing		62	62
Other Trading Activities	16	67	83
Depreciation		83	83
Loan interest		10	10
	1,429	809	2,276

SUPPORT C	OSTS CUR	RENT YEAR
	Admin &	Rep &	Advocacy		&	Comm-
	Buildlng	Democracy	Participation	Welfare		unications	Grants	Total
								2021
	f000	f000	f000	OOOO		f000	f000	OOOO
Staff costs	512	267	458	171		187	201	1,796
Depreciation	256		6			23		285
Energy costs	174							174
Other costs	163	32	65		12			336
Sport (AU)
Societies			214					248
	1,105	332	743	183		275	201	2,839

	Admin &	Rep 8	Advocacy 8	Advocacy 8	Comm-
	Building	Democracy	Participation	Welfare	unications	Grants	Total
							2020
	OOOO	OOOO	f000	f000	OOOO	f000	f000
Staff costs	532	228	471	170	138	170	1,709
Depreciation	258		8		21		286
Energy costs	173						173
Other costs	164	45	174		58		452
Sport (AU)			136			134	270
Societies			51			98	149
	1,110	273	840	181	217	402	3,039

The average	n	umber of	employees (Full Time Equivalent)	analysed by function was:
				2021	2020
				No.	No.
Administration		& Building	Services	15	15
Representation		&Democracy		10	8
Participation	&	Personal	Development	16	17
Advice &Welfare				5	5
Communications				6	5
Trading				15	29
				67	79

TANGIBLE ASSETS Group
		Furniture
	Land &	and	Imotor
	Buildings	equipment	Vehicles	Total
	KOOO	OOOO	OOOO	OOOO
Cost
At 3August 2020	20,411	1,301	48	21,?60
Additions		36		36
Disposals
At 1 August 2021	20,411	1,337	48	21,796
Depreciation
At 3August 2020	10,227	790	42	11,059
Disposals
Charge for the year	218	153		377
At 1 August 2021	10,445		48	11,436
Net book value
At 1 August 2021	9,966	394		10,360
Net book value
At 2 August 2020	10,184	511	6	10,701

ANGIBLE ASSETS Charity
		Furniture
	Land &	and	Motor
	Buildings	equipment	Vehicles	Total
	FOQO	OOOO	OOOO	OOOO
Cost
At 3August 2020	20,411	904	48	21,363
Additions		36		36
Disposals
At 1August 2021	20,411	940	48	21,399
Depreciation
At 3August 2020	10,227	724	42	10,993
Disposals
Charge for the year	218	74		298
At 1 August 2021	10,445	798	48	11,291
Net book value
At 1August 2021	9,966	142		10,108
Net book value
At 2 August 2020	10,184	180	6	10,370

INVESTMENTS
		GROUP 8	CHARITY
		2021	2020
		FOOO	FOOO
Market value at	3August 2020	51	55
Income retained	within the portfolio
Net investment	gains —unrealised		(4)
Disposal of Investments
Purchase of investments
Market value at	1 August 2021	59

DEBTORS			GROUP			CHARITY
			2021	2020	2021	2020
			F000	FOOO	FOOO	f000
Trade debtors			38	11	18	9
Other debtors			10	12	4	7
Prepayments	and accrued income		101	106	87	96
Taxation				43
Balances owed by subsidiary		undertaking			168	165
			149	172	277	277

CREDIT	ORS AMOUNTS	FALLING	DUE WITHIN ONE YEA	R
				GROUP			CHARITY
				2021	2020	2021	2020
				EOOO	FOOO	KOQO	f000
Trade creditors				63	15	42	14
Amount	owed to University	ofNewcastle		36	43	36	43
Deferred	income (invoiced	in advance)		11	36	11	36
Funds held as custodian —Students'			clubs and societies	616	567	616	567
Other creditors				59	17	10	17
Taxation	and Social Security			31	26	31	26
Payroll
Accruals				94	70	67	55
Loan				80
				990	774	813	758

Deferred	income	comprises income invoiced in advance ofthe se	rvice being provided.
			f000
Balance	at3August 2020		36
Amount	released	to charitable services income	(27)
Amount	deferred	in year
Balance	as at 1	August 2021

CREDITORS	CREDITORS	- AMOUNTS	FALLING DUE AFTER ONE YEAR		GROUP		CHARITY
				2021	2020	2021	2020
				OOOO	OOOO	f000	f000
Amount	owed	to University	of Newcastle	320	400

STATEMENT OF FUNDS CURRENT	STATEMENT OF FUNDS CURRENT	PERIOD	PERIOD
		Balance at		Income &	Expenditure	Transfers	Balance at
			3.8.20	investments			1.8.21
			OOOO	FOOO	f000	OOOO	OOOO
Unrestricted funds
General funds			287	3,524	(3,450)	(100)	261
Designated funds			17		(2)	100	115
Restricted funds
tUniversity- Access Agreement tUniversity- Sports expansion t University- Catherine Cookson t University NUFR- Catherine Cookson			6 12 4	88	(42) (9) (4)		52 2 5 3
t University- Nightline rent					(7)
t University- Best Neighbour
t University- Post Grad Salaries					(1)
t University- Frederick Douglass	Award						2
t University- Sensory packs t Touch Rugby t University- Elite Sport I University- EDI Consultation				300 30	(4) (118) (10)		1 2 182 20
t University- LGBTQ+ attainment gap t University- LGBTQ+ safe spaces				1 15			1 15
t University- Micro aggression arts IVolunteering- SCAN funds ffUniversity —Capital fIUniversity —Finance Systems t Santander Diversity Ambassadors			2 193 21 2	2 10	(1) (53) (8) (1'I)		1 2 139 13 2
t Newcastle City Council			7		(7)
t NEST donations			4	6	(5)		5
t National Lottery NEST IAction Foundation NEST				12 28	(12) (14)		14
tCoop first Responders ICoop Procrastiknitting t Newcastle City Council Community t Support and Wellbeing Activity		Health	fund	1 1 2 27	(3)		1 1 2 24
I Healthy and Happy Fund (Circus Grant) I Youth Trips t NICOT			3	1 3			1 3 3
Total Restricted Funds			264	541	(309)		496
Permanent Endowment			10,171		(220)		9,951
			10,739	4,065	(3,981)		10,823
ffCapital Grant
z Trading Services Income/ Expenditure
t Other Service IncomelExpenditure

			Fixed Assetsl	Nst	Current	I ong Term	Fund
			investments		Assets	Liabilities	Balances
			OOOO		OOOO	f000	f000
General funds			333		248	(320)	261
Designated	funds				115		115
Restricted funds			135		361		496
Permanent	endowment	funds	9,951				9,951
			10,419		?24	(320)	10,823
ANALYSIS	OF NET ASSETS BETWEEN FUNDS -PRIOR			PERIOD
			Fixed Assetsl	Net	Current	Long Term	Fund
			investments		Assets	Liabilities	Balances
			OOOO		f000	FOOO	f000
General funds			427		260	(400)	287
Designated	funds		2		15		17
Restricted	funds		152		112		264
Permanent	endowment	funds	10,171				10,171
			10,752		387	(400)	10,739

						2021	2020
						OOOO	f000
Net expenditure before			unrealised		gains	84	(243)
Depreciation						377	369
Decrease	in stocks					18	(44)
Decrease/(increase)		in debtors				23	(32)
Increase	in creditors					136	15
Unrealised	(gains)/losses		on	investments		(8)	4
Net cashf	low from operating			activities		630	69

		At 3August	Cash flows	Noncash	At1 August
		2020		movements	2021
Cash and	cash equivalents	868	594		1,462
Debt due	within one year			(80)	(80)
Debt due	after more than one year	(400)		80	(320)
Changes	in net debt	468	594		1,062