##
##
|Members
ofthe Board and Professional|Advisors|Advisors||
|---|---|---|---|
|Trustees Report (incorporating
the strategic||report)||
|Report ofthe Independent
Auditor|||21|
|Consolidated
Statement
of Financial Activities|||24|
|Consolidated
Balance Sheet|||25|
|Consolidated
Statement
of Cashflows|||26|
|Accounting
Policies|||27|
|Notes to the Accounts|||30|
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|||||Note|Unrestricted|Restricted|||
|---|---|---|---|---|---|---|---|---|
||||||Funds|Funds|Total Funds|Total Funds|
||||||2022|2022|2022|2021|
|||||||F|F|F|
|Incomin
Resources|||||||||
|Incoming
resources
from|generating||funds||||||
|Income from donations|||||1,490,577||1,490,577|2,280,935|
|Income from other trading|activities||||3,727,009||3,727,009|1,796,529|
|Investment
income|||||1,375||1,375||
|Income from charitable
activities|||||377,690||377,690|151,787|
|Total incoming resources|||||5,596,651||5,596,651|4,229,251|
|Resources Ex enditure|||||||||
|Costs ofgenerating
funds|||||||||
|Costs of raising funds||||7|(3,140,431)||(3,140,431)|(1,999,225)|
|Expenditure
on charitable|activities|||8|2,774,666)||2,774,666|1,939,282|
|Total resources expended|||||(5,915,097)||(5,915,097)|(3,938,507)|
|Net (outgoing)/incoming|resources||||(318,447)||(318,446)|290,744|
|Other recognised
gains/losses|||||||||
|Actuarial
gains/losses
on|defined|benefit|||||||
|scheme||||17|1,480,000||1,480,000|(149,000|
|Net movement
in funds|||||1,161,553||1,161,554|141,744|
|Reconciliation
of Funds|||||||||
|Total funds brought
forward||||20|1,054,395|547|1,054,942|913,197|
|Total funds carried forward|||||2,215,948|547|2,216,496|1,054,942|
##
|||||Note|2022|2022|2021|2021|
|---|---|---|---|---|---|---|---|---|
||||||Group|Company|Group|Company|
||||||E||E|E|
|Fixed Assets|||||||||
|Intangible
Fixed Assets||||10|188,520|188,520|282,780|282,780|
|Tangible Assets||||11|648,564|430,448|803,168|523,243|
|Investments
in subsidiaries||||12||500,004||500,004|
||||||837,084|1,118,972|1,085,948|1,306,027|
|Current Assets|||||||||
|Stock|||||52,175||63,730||
|Debtors||||13|419,678|792,155|375,202|530,763|
|Cash at bank and|in|hand|||1,843,175|553,737|1,652,331|356,984|
||||||2,315,028|1,345,892|2,091,263|887,747|
|Creditors: Amounts||falling due within one year||14|(1,035,131)|(589,988)|(815,269)|(340,474)|
|Net current assets|||||1,279,897|755,904|1,275,993|547,273|
|Total Assets Less||Current|Liabilities||2,116,981|1,874,876|2,361,942|1,853,300|
|Creditors: Amounts||falling due after one year||15|(241,485)|-|(250,000)|0|
|Pension
Liability||||17|341,000|341,000|(1,057,000)|(1,057,000)|
|Net assets|||||2,216,496|2,215,876|1,054,942|796,300|
|The Funds ofthe|Chari||||||||
|Restricted reserves|||||547|547|547|547|
|Unrestricted
funds|||||2,208,785|2,208,165|952,971|694,329|
|Revaluation
reserve||||20|7,164|7,164|101,424|101,424|
|Total charity funds|||||2,216,496|2,215,876|1,054,942|796,300|
##
|||||Note|2022|2021|
|---|---|---|---|---|---|---|
||||||Group|Group|
||||||F|E|
|Cash flows from operation
activities|||||||
|Net Cash income/
(expenditure)|||||1,161,554|141,744|
|Adjustments
to cashflows
from non-cash||items:|||||
|Depreciation||||11|274,066|287,215|
|Amortisation||||10|94,260|94,260|
|Investment
income||||5|( 1,375 )||
|FRS102Actuarial
adjustment|||||82,000|52,000|
||||||1,610,505|575,219|
|Working
capital adjustments|||||||
|Decrease/ (increase)
in stocks|||||11,554|3,252|
|Increase
in debtors||||13|(44,476)|(70,533)|
|Increase/ (decrease)
in creditors||||14|219,862|219,997|
|Decrease/(increase)
retirement|benefit obligation||net of||||
|actuarial changes||||17|1,480,000)|149,000|
|Net cash flows from operating|activities||||317,445|876,935|
|Cash flows from investing
activities|||||||
|Interest receivable
and similar income||||5|1,375||
|Purchase
oftangible
fixed assets||||11|(119,461)|(352,163)|
|Sale oftangible
fixed assets|||||||
|Net cash flows from investing|activities||||118,086)|352,163|
|Cash flows from financing
activities|||||||
|Loans introduced
in the period||||15|||
|Repayment
of loans and borrowings||||15|(8,515)|(100,000)|
|Net cash flows from financing|activities||||8,515|(100,000)|
|Net increase
in cash and cash|equivalents||||190,844|424,772|
|Cash and cash equivalents
at 1 July|||||1,652,330|1,227,558|
|Cash and cash equivalents
at 30June|||||1,843,174|1,652,330|
##
##
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##
##
##
#
##
##
##
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##
##
##
##
##
##
##
##
##
##
##
##
##
##
|||||2022|2022|2021|2021|
|---|---|---|---|---|---|---|---|
|||||Group|Company|Group|Company|
|||||F||F|F|
|Depreciation||||274,066|137,077|287,215|123,027|
|Amortisation||||94,260|94,260|94,260|94,260|
|Auditors
remuneration||||||||
|- audit ofthe|financial|statements||21,295|6,475|15,750|7,500|
|- non-audit
services||||4,000|2,000|4,000|2,000|
|3
Income|from Donations||and Legacies|||2022|2021|
|||||Unrestricted|Restricted|Total|Total|
|||||||F|f|
|Donations||||||||
|Government|grants|||10,473||10,473|448,598|
|University
of|Lincoln - Block Grant|||1,480,104||1,480,104|1,480,104|
|Other grants|||||||312,233|
|Gifts in Kind|||||||40,000|
|||||1,490,577||1,490,577|2,280,935|
|4|In|come from Other Trading Acti|vities||||
|---|---|---|---|---|---|---|
||||2022|2022|2022|2021|
||||Unrestricted|Restricted|Total|Total|
||||F|F|||
|Trading||income|||||
|Sales|ofgoods and services||3,727,009||3,727,009|1,796,529|
||||3,727,009||3,727,009|1,796,529|
|5|Investment
Income||||||
||||2022|2022|2022|2021|
||||Unrestricted|Restricted|Total|Total|
|Interest||on short term deposits|||||
|Interest||on loan to subsidiary|1,375||1,375||
||||1,375||1,375||
##
##
||||2022|2022|2022|2021|
|---|---|---|---|---|---|---|
||||Unrestricted
f.|Restncted
E|Total
f.|Totalf|
|Activities|||57,613||57,613|27,375|
|Other|||1,609||1,609|8,111|
|Groups|and|societies|318,468||318,468|1'l6,301|
||||377,690||377,690|151,787|
##
|||||||2022|2022|2022|2021|
|---|---|---|---|---|---|---|---|---|---|
|||||||Unrestricted|Restricted|Total|Total|
||||||||E||E|
|Trading|subsidiary||costs|including|staff|3,003,443||3,003,443|1,835,037|
|Depreciation,||amortisation||and other similar costs||136,988||136,988|164,188|
|||||||3,140,431||3,140,431|1,999,225|
##
|||||||||||FOR THE YEAR E|FOR THE YEAR E|FOR THE YEAR E|FOR THE YEAR E|ND|ED 30|JUNE 2022||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|||Expenditure|||on Charitable|||||Activities
(Group)||||||||||
|||||||||||||||2022||||2021||
|||||||||||||||||||Support||
|||||||||||Direct Costs
f|||Support Costs
f|||Total|Direct Costs
f|Costs
f|Total
f|
|Breakdown|ofCosts of Charitable|||||||||||||||||||
|Activities||||||||||||||||||||
|Opportunities||||||||||||222,813||887,049||1,109,862|158,632|739,511|898,143|
|Support and|Advice|||||||||||62,696||332,644||395,340|126,190|554,633|680,823|
|Sustainability|||||||||||||||73,920|73,920||||
|Accomodation||||||||||||57,555||295,684||353,239||||
|Rep~esentatio~||||||||||||159,131||332,644||491 775|95359|184,878|280 237|
|Societies||||||||||||350,531||||350,531|80,079||80,079|
|||||||||||||852,726||1,921,940||2,774,666|460,260|1,479,022|1,939,282|
|The total exenditure||on charitable|||activities attributable|||||||to unrestricted||funds was||f2,774,667 (2021:f1,394,825) and||to restricted|funds was|
|fnil (2021:f348).||||||||||||||||||||
|||Analysis||of|Governance||||and||Support Costs|||||||||
|||Support|Costs|||Allocated||||to|Charitable||Activities|||||||
|||||||||||||||||Premises||||
|||||||||||||||||costs|Other|||
|||Governance||||Finance|||||||Administration|||including|sUpport|||
|||costs
f|||||costs
f|||Staff costs
f||||costs
f||depreciation
f|costsf
Total 2022
f||Total 2021
f|
|Opportunities|||10,017||||1,039|||||629,281||26,537||120,084|100,091|887,049|739,511|
|Support and|Advice|||3,756||||389||||235,980|||9,952|45,032|37,534|332,643|554,633|
|Sustainability||||834||||87||||52,440|||2,211|10,007|8,341|73,920||
|Accomodation||||3,339||||346||||209,761|||8,846|40,028|33,364|295,684||
|Representation||||3,756||||389||||235,981|||9,952|45,032|37,534|332,644|184,878|
||||21,702||||2,250||||1,363,443||||57,498|260,183|216,864|1,921,940|1,479,022|
|Support costs are allocated based|||||on|staff numbers|||||employed||for each charitable|||activity.||||
|||Analysis||of|governance||||and||support costs|||||||||
||||||||||||||||||2022||2021|
||||||||||||||||||Unrestricted|||
||||||||||||||||||funds|Total|Total|
||||||||||||||||||f|f||
|||Auditor's||remuneration||||-|audit|||fees|||||8,475|8,475|9,500|
|||Pension||valuation|||fees||||||||||10,000|10,000|9,250|
|||Legal Fees|||||||||||||||3,227|3,227|5,689|
||||||||||||||||||21,702|21,702|24,439|
##
##
|10
Intangible|Fixed Assets (Group)|||
|---|---|---|---|
|||Intangible
Assets|Total|
|Cost||||
|At 1 July 2021||471,300|471,300|
|Additions||||
|Disposals||||
|At 30June 2022||471,300|471,300|
|Depreciation||||
|At 1 July 2021||188,520|188,520|
|Charge for the Year||94,260|94,260|
|Eliminated
On Disposals||||
|At 30 June 2022||282,780|282,780|
|Net Book Value at 1 July 2021||282,780|282,780|
|Net Book Value at 30June 2022||188,520|188,520|
|Intangible|Fixed Assets (Company)|||
|||Intangible
assets|Total|
|Cost||||
|At 1 July 2021||471,300|471,300|
|Additions||||
|Disposals||||
|At 30 June 2022||471,300|471,300|
|Depreciation||||
|At 1 July 2021||188,520|188,520|
|Charge for the Year||94,260|94,260|
|Eliminated
On Disposals||||
|At 30June 2022||282,780|282,780|
|Net Book Value at 1 July 2021||282,780|282,780|
|Net Book Value at 30June 2022||188,520|188,520|
##
|Fixed Assets (Group)|||||
|---|---|---|---|---|
||Fixtures,
Fittings
&
Equipment|Computer
Equipment|Club
Equipment|Total|
|Cost|f.||||
|At 1 July 2021|1,730,614|45,328|8,550|1,784,492|
|Additions|119,461|||119,461|
|Disposals|||||
|At 30June 2022|1,850,075|45,328|8,550|1,903,953|
|Depreciation|||||
|At 1 July 2021|927,446|45,328|8,550|981,324|
|Charge for the Year|274,066|||274,066|
|Eliminated
On Disposals|||||
|At 30June 2022|1,201,512|45,328|8,550|1,255,390|
|Net Book Value at 1 July 2021|803,168|||803,168|
|Net Book Value at 30June 2022|648,564|||648,564|
|Fixed Assets (Company)||||
|---|---|---|---|
||Fixtures,
Fittings &
Equipment|Club
Equipment|Total|
|Cost|E|E|E|
|At 1 July 2021|826,567|8,550|835,117|
|Additions|44,282||44,282|
|Disposals||||
|At 30June 2022|870,849|8,550|879,399|
|Depreciation||||
|At 1 July 2021|303,324|8,550|311,874|
|Charge for the Year|137,077||137,077|
|Eliminated
On Disposals||||
|At 30June 2022|440,401|8,550|448,951|
|Net Book Value at 1 July 2021|523,243||523,243|
|Net Book Value at 30June 2022|430,448||430,448|
##
##
||||||||||||||Aggregate|
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|||||||||||||Profit l(Loss)|Amount of|
|||Subsidiary|||Country of|||||||in the Period|Capital and|
|||Undertakin|||Incor|oration||Princi
al Activi||||(F)|Reserves (F)|
||||||||Organisaition
of events to|||||||
|||Lincoln Students'|||||generate||income for|the benefit of||||
|||Union Trading|||United||University||of Lincoln|Students'||||
|||Limited|||Kingdom||Union.|||||(158,046)|411,923|
||||||||Provision||and development||of|||
||||||||systems||management|software to||||
|||Students'|Union||||generate||income for|the benefit of||||
|||Management|||United||University||of Lincoln|Students'||||
|||Systems|Limited||Kingdom||Union.|||||(42,627)|64,621|
||||||||Provision||and development||of|||
||||||||ordering||software to|generate||||
|||Student Orders|||United||income|for the benefit of University||||||
|||Limited|||Kingdom||of Lincoln||Students'|Union.||5,216|4,717|
|||Lincoln Students'|||||Accomodation
management||||to|||
|||Union|||||generate||income for|the benefit of||||
||Accomodation||||United||University||of Lincoln|Students'||||
|||Services|Limited||Kingdom||Union.|||||19,864|19,365|
||Charity|||||||||||||
|||||||||||||Subsidiary
Undertakings|Total|
||Cost|||||||||||F.||
||At 1 July||2021|||||||||500,004|500,004|
||Additions|||||||||||||
|||Disposals||||||||||||
||At 30June|||2022||||||||500,004|500,004|
|13||Debtors||||||||||||
||||||||||2022||2022|2021|2021|
|||||||||Group|||Charity|Group|Charity|
||||||||||F||F|E|F|
|Trade|Debtors|||||||353,511|||512,100|183,949|329,552|
|Amounts||owed by||group|members||||||257,526||173,064|
|Other|Debtors||||||||3,746||1,066|8,250|9,152|
|Prepayments||||||||39,755|||21,463|51,965|18,995|
|Accrued||income||||||22,666||||131,039||
|||||||||419,678|||792,155|375,202|530,763|
##
|14
Creditors|||||||||
|---|---|---|---|---|---|---|---|---|
|||||2022|2022|2021||2021|
|Amounts
falling due|within one year;|||Group
f|Charity
f|Group
f||Charity
f|
|Trade Creditors||||392,332|177,119|104,047||67,465|
|Amounts
owed to group members|||||||||
|Other Creditors||||177,687|197,057|294,146||39,170|
|VAT grant repayable|||||||||
|Taxation and Social|Security|||122,338|97,433|148,674||139,954|
|Accruals||||290,835|103,746|249,164||93,685|
|Deferred income||||51,939|14,633|19,238||200|
|||||1,035,131|589,988|815,269||340,474|
|||||2022|2022|2021||2021|
|Deferred Income||||Group
f|Company
f|Group
f|Company
f||
|Deferred income at 1 July 2021||||19,239|200|7,809||200|
|Resources deferred|in the period|||51,739|14,433|19,239|||
|Amounts
released
from previous||periods||19,039||7,809|||
|Deferred income at 30June 2022||||51,939|14,633|19,239||200|
|15
Creditors|||||||||
|||||2022|2022|2021||2021|
|Amounts
falling due|after more than one year:|||Group
f|Company
f|Group
f|Company
f||
|Bank loans||||39,166||50,000|||
|Other loans||||202,319||200,000|||
|||||241,485|—|250,000|||
|16
Employees|||||||||
|||||||2022||2021|
|The aggregate
payroll costs for the year were:||||||Group||Group
f|
|Wages and salaries||||||2,354,136||1,797,546|
|Social security costs||||||185,490||132,788|
|Pension costs||||||293,644||150,054|
|||||||2,833,270||2,080,388|
|During the year, the
fnil (2021:f37,315)|group made
represented|redundancy
payments
which totalled fnil (2021:f80,259)
statutory
redundancy
and fnil (2021:f42,944) pay in lieu|||||ofwhich
of notice.||
|The monthly
average|ofpersons|(including|senior management||team) employed|by the group||during the year was:|
||||2022|2021|
|---|---|---|---|---|
||||Group|Group|
|Sabbatical|Officers||5|4|
|Management||8 Administration|41|38|
|Bar staff|||11|7|
|Part-time|officers||32|30|
|Student staff|||56|64|
||||145|143|
##
##
##
|fell|within|the|following|bands|was:||
|---|---|---|---|---|---|---|
||||||2022|2021|
||||||No|No|
||||||1|1|
|||||||1|
##
#
##
##
|Princi
al assum
tions||||||2022|2021|
|---|---|---|---|---|---|---|---|
|Discount rate||||||3.85%|1.85%|
|Pension increase rate||||||2.65%|2.80%|
|Salary increase
rate||||||3.55%|3.70%|
|Post retirement
mortalit|assum||tions|||2022|2021|
|Current
UK pensioners|at retirement|||age- male||20.8years|21.0 years|
|Current
UK pensioners|at retirement|||age- female||23.5 years|23.7 years|
|Future
UK pensioners|at retirement|||age-|male|22.0years|22.2 years|
|Future
UK pensioners|at retirement|||age-|female|25.3years|25.5years|
|Amounts
reco
nised
in|the Accounts|||||2022|2021|
|||||||F|E|
|In the Statement
of Financial||Position||||||
|Fair value of Plan Assets||||||1,549,000|1,482,000|
|Present value of Obligations||||||(1,208,000)|2,539,000)|
|Pension
Liability||||||341,000|(1,057,000)|
|Defined Benefit Obli
ation||||||||
|Changes
in the defined|benefit||obligation||are as follows:||2022|
||||||||p|
|Present Value at 1 July|2021||||||2,539,000|
|Current service cost|||||||153,000|
|Interest cost|||||||49,000|
|Actuarial
gains and losses|||||||30,000|
|Contributions
by schemes
participators|||||||(1,563,000|
|Present Value at 30June 2022|||||||1,208,000|
|Fair Value ofSchemes|Assets|||||||
|Changes
in the fair value ofscheme||||assets are as follows:|||2022|
||||||||E|
|Fair value ofassets at|beginning||ofthe year||||1,482,000|
|Interest income|||||||29,000|
|Participants
contributions|||||||30,000|
|Employer
contributions|||||||91,000|
|Actuarial
gain/loss
on assets|||||||83,000|
##
##
##
|17
Pension Commitments
-continued|17
Pension Commitments
-continued|||
|---|---|---|---|
|Anal
sis ofAssets||||
|The major categories of scheme assets are as follows:||2022|2021|
|||E||
|Cash and cash equivalents||15,490|44,460|
|Equity instruments||1,146,260|1,007,760|
|Property||154,900|163,020|
|Bonds||232,350|266,760|
|||1,549,000|1,482,000|
|Return|on Scheme Assets|2022|2021|
|||F|f.|
|Return|on scheme assets|54,000|187,000|
##
##
##
##
|Funds|||||||||
|---|---|---|---|---|---|---|---|---|
|Group|||||||Other||
||||Balance at|Prior Year|Incoming|Resources|recognised|Balance at|
||||1 July 2021|Adjustment|Resources|Expended|gains/(losses)|30June 2022|
||||f|f||f|f|f|
|Unrestricted|funds||747,084||5,278,183|(5,470,306)|1,480,000|2,034,961|
|Designated|funds||205,887||318,468|(350,531)||173,824|
|Revaluation|Reserve||101,424|||(94,260||7,164|
|Total unrestricted||funds|1,054,395||5,596,651|(5,915,097)|1,480,000|2,215,949|
|Restricted|reserves||547|||||547|
|Total funds|||1,054,942||5,596,651|(5,915,097|1,480,000|2,216,496|
||||||||Other||
||||Balance at|Prior Year|Incoming|Resources|recognised|Balance at|
||||1 July 2020|Adjustment
f|Resources
F|Expended
F|gains/(losses)
f|30June 2021
F|
|Unrestricted|funds||546,954||3,865,566|(3,516,436)|(149,000)|747,084|
|Designated|funds||146,261|23,404|116,301|(80,079)||205,887|
|Revaluation|Reserve||195,684|||(94,260)||101,424|
|Total unrestricted||funds|888,899|23,404|3,981,867|(3,690,775)|(149,000)|1,054,395|
|Restricted|reserves||895||247,384|247,732)||547|
|Total funds|||889,794|23,404|4,229,251|3,938,507|149,000|1,054,942|
|Charity|||||||Other||
||||Balance at|Prior Year|Incoming|Resources|recognised|Balance at|
||||1 July 2021
F|Adjustment
F|Resources
F|Expended
F|gains/(losses)
f|30June 2022
f|
|Unrestricted|funds||488,442||2,428,964|(2,363,065)|1,480,000|2,034,341|
|Designated|funds||205,887||318,468|(350,531)||173,824|
|Revaluation|Reserve||101,424|||(94,260||7,164|
|Total unrestricted||funds|795,753||2,747,432|(2,807,856)|1,480,000|2,215,329|
|Restricted|reserves||547|||||547|
|Total funds|||796,300|-|2,747,432|(2,807,856|1,480,000|2,215,876|
||||||||Other||
||||Balance at|Prior Year|Incoming|Resources|recognised|Balance at|
||||1 July 2020
f|Adjustment|Resources
f|Expended
f|gains/(losses)
F|30June 2021
f|
|Unrestricted|funds||411,466||2,051,690|(1,825,714)|(149,000)|488,442|
|Designated|funds||146,261|23,404|116,300|(80,078)||205,887|
|Revaluation|Reserve||195,684|||(94,260)||101,424|
|Total unrestricted||funds|753,411|23,404|2,167,990|(2,000,052)|(149,000)|795,753|
|Restricted|reserves||895|||(348||547|
|Total funds|||754,306|23,404|2,167,990|2,000,400|149,000|796,300|
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||||2022|2021|
|---|---|---|---|---|
|Within||1-2 years||95,000|
|Within||2-3 years|16,063||
|Within||4-5 years|113,751|15,000|
|Over|5|years||11,576|
||||129,814|121,576|
||||2022|2021|
|---|---|---|---|---|
||||E|F|
|Within||2-3 years|11,576|15,000|
|Within||4-5 years||11,576|
|Over|5|years|||
||||11,576|26,576|