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2022-06-30-accounts

Page
Legal and administrative information
Trustees'
report		 3 —15
Trustees'
responslbliitles		 statement
Independent
auditor's		 report on the financial 17—21
statements
Consolidated
statement		 of financial activities
Consolidated
balance		 sheet 23-24
Union balance sheet 25-26
Consolidated
statement		 ofcash flows 27
Notes to the financial statements 2S-52

Risk Theme It!sit Mitigating
Action
Economic Impact ofCavid-19 on the SU resulting in Ongoing consultation
and dialogue		 with students.
Instabi! Ity Post- inability to operate effectively due to Revised budget.
Covid closure ofcampus, remote working, Risk assessments
for all activities.
reduction
In number		 of students on Ongoing open dialogue with University, Unlpol and
campus and inability to support students other students'
un!ons,
affected by Covid-19 Pivoting of all work to concentrate on supporting
students
through
Covld-19.
Membership Failure to recognise, adapt or respond to Ongoing
consultation
and dialogue		 with students
the changing
environment		 and dynamics through
f'ocus groups, representative		 systems, and
of our membership resulting
in		 lower surveys.
levels af engagement with the Union's Understanding
the make-up ofmembership
services and democratic structures and through
data analysis.
reduced relevance. Key Performance
Indicators monitored		 through
Leadership
Team and Board.
Complaint's
procedure.
Elections and By-elections processes and
procedures.
Membership Failure to ensure the SU maintains or inclusion
of SU on University's
Estates		 Masterplan.
extends its physical presence within the Regular meetings
with key University		 staff.
University
environment.		 Stakeholder
matrix to target key players		 and
ensure our messages are reaching the people who
make decisions about the University estate,
F!nancial Commercial
operations		 suffer significant Timely and accurate Rnanclal information.
downturn,
fraud or		 loss of license Clearly written
down and followed		 operating
leading to Bnancial deficits procedures.
Flnancia! procedures
fit for purpose,		 robust and
regularly tested.
Annual
externa! audit.
Mid-year review process.
Whistleblowfng
policy.
External stacktakes.
Financial Inability to secure adequate funding Continued
positive relationsh! p with		 the
from the Llniversity to underpin our University.
strategic aims Diversified
income streams including		 partnerships.
Regular reporting to the Board.
Governance Poor quality gavernance Clear policies and procedures
and		 systems for
accountability.
Comprehensive
training for trustees,		 officers, and
staff.
Articles and Bye-laws.
Charity Governance
Code

Health and Safety A serious health and safety incident Mandatory
health and safety training
for all staff,
occurs where policies and procedures Health and safety policy.
have not been followed. SU Health
and Safety Committee.
Risk assessments
for all SU activities and events.
Regular Health
and Safety audits carried out by
University
Health
and Saf'ety Officer,
Compliance Legal and Regulatory Compliance Licensing advice from our licensing sogcitors.
HR advice from
HR Department
consultants.
Annual
compliance
statement
to the Board signed
by Chief Exec.
Attendance
ofrelevant staff at training
and
briefing sessions.
Clear policies and procedures
and systems for
accountability.
NUS training
and briefing sessions
Business Continuity Business Continuity lf a major Crisis management
plan in place.
catastrophic incident or event occurs, Business recovery plan in place,
Appropriate
lnsurances
In place and reviewed
annually.

Unrestricted Restricted Total Total
funds funds funds funds
2022 2022 2022 2021
income from: Note
Donations
and legacies		 1,3?5,617 177,000 1,552,617 1,525,644
Charitable
activities		 32,286 16,343 48,629 43,897
Other trading
activities		 545,619 545,619 56,956
Other income 13,006 13,006 297,977
Total income 1,966,528 193,343 2,159,871 1,924,474
Expenditure
on:
Raising
funds		 660,069 100,000 760,069 380,653
Charitable
activities		 1,258,306 'I03,528 1,361,834 1,29?,6?7
1,918,375 203,528 2,121,903 1,678,330
Net incomel (expenditure) 48,153 (10,185) 3?,968 246,144
Transfers
between		 funds 20
Net movement
In		 funds 48,153 (10,185) 37,968 246,144
Reconciliation
of		 funds:
Total funds
brought		 forward (1,966,046) 37,213 (1,928,835) (2,174,979)
Net movement
in funds		 48,153 (10,185) 37,966 246,144
Total funds carried forward (1,91?,895) 27,028 (1,8S0,867) ('l,928,835)

2022 2021
Note
Fixed assets
Tangible assets 15 68,317 35,380
68&317 35,380
Current assets
Stocks 13,866 4,893
Debtors i8 137,195 107,931
Cash at bank and In hand 822,071 820,803
973,087 933,627
Creditors: amounts falling due within one year 19 (367,484) (237,381)
Net current assets 605,603 696,246
Total assets less current gabilities 673,920 731,626
Creditors: amounts falling due after more than
one year:
SUSSpension scheme deficit (2&564,787) (2,660,461)
Total net assets (1,890,867) (1,928,835)
Charity funds
Restricted funds:
Restricted funds 20 27,028 37,2i3
Total restricted funds 20 27&028 37,213
Unrestricted
funds
General funds 20 742,567 770,888
Pension reserve 20 (2,660,462) (2,736,936)
Total unrestricted funds 20 (1,917,895) (1,966,048)
Totalfunds (1&890,867) (1,928,835)

2022 2021
Note
Cash flows from operating activities
Net cash provided
by operating
activities		 23 227,602 407,401
Cash flows from Investing activities
Purchase
ol tangible
fixed assets		 (54,067)
Net cash provided
by/(used
in) Investing		 activities (54,067)
Cash flows from financing activities
StjSSpension
deficit contributions		 (172,267) (100,937)
Net cash (used in)/provided by financing activities (172,267) (100,937)
Change
m cash and cash		 equivalents in the year 1,268 306,464
Cash and cash equivalents at the beginning of the year 820,803 514,339
Cash and cash equivalents at the end of the year 24 822,071 820,803

Unrestricted Restricted Total Total
funds funds funds funds
2022 2022 2022 2021
Grants
Block grant from Leeds Beckett University 1,375,617 1,375,617 1,348,644
Facilities in kind 177,000 177,000 177,000
Total 2022 1,375,617 177,000 1,552,617 1,525,644
Total 2021 1,348,644 177,000 1,525,644

Unrestricted Restricted Total Total
funds funds funds funds
2022 2022 2022 2021
P
Clubs and societies 13,109 13,109 17,457
Freshers' income 23,627 23,627 4,816
NUS Extra cards 2,231 2 231 3,323
Engagement 6,428 3,234 9,662 18,301
Totat 2022 32,286 16,343 48,629 43,897
Totat 2021 10,591 33,306 43,897

Unrestricted Total Total
funds funds funds
2022 2022 2021
Union's trading income 294,184 294,184 56,165
Trading company income 25'l,435 251,435 791
Total2022 545,619 545,619 56,956
Total 2021 56,956 66,956

Unrestricted Total Total
funds funds funds
2022 2022 2021
P P
Sundry income 1,053 1,053 2,404
Insurance income - Union 27,222
Insurance income- Trading company 67,629
CJRS Income —Union 11,953 11,953 179,399
CJRS Income —Trading company 21,323
Total2022 13,006 13,006 297,977
Total 202t 297,977 297,977

Unrestricted Restricted Total Total
funds funds funds funds
2022 2022 2022 2021
P
Cost of sales and operating costs 238,482 238,482 17,924
Wages and salaries 258,556 258,556 170,727
National insurance 8,898 8,898 3,785
Pension costs 8,060 8,060 2,644
Support costs 146,073 'i00,000 246,073 185,573
Total 2022 660,069 i00,000 760)069 380,653
Total 2021 280,653 100,000 380,653

Unrestricted Restricted Total Total
funds funds funds funds
2022 2022 2022 2021
E E E P
Wages and Salaries 63,765 63,765 34,829
Depreciation 5,624 5,624 2,797
Bank charges 263 263 247
Subscriptions and affiliations 6,647 6,647
Consultancy 1,292 1,292 777
General 8,097 8,097 9,397
Insurance 4,232 4,232 3,304
Irrecoverable VAT 829 829 331
Computer licences and!Tmaintenance 4,536 4,536 1,292
Postage
Repairs 354 354
Printing
and		 stationery 837 437
Telephone 3,150 3,150 1,917
Training 3,249 3,249 1,333
Travel 578 578 173
100,000 100,000 100,000
Pension finance cost 25,498 25,498 16,512
Pension protection fee 4,416 4,416 5,626
Governance costs (note 11j 12,706 12&706 6,314
Total 2022 146,073 100,000 246,073 185,573
Total 2021 85,573 'I00,000 185,573

Unrestricted Restricted Total Total
funds funds funds funds
2022 2022 2022 2021
P
Engagement 250,293 22,647 272&940 254,676
Representation 722,385 30,689 753,074 651,082
Student Activities 154,600 41,133 195,733 221,487
Student volunteering 131,028 9,059 140,087 170,432
1,258,306 103,528 1,361,834 1,297,677
Total 2021 1,205,029 92,648 1,297,677

Activities
undertaken Total Total
directly Support costs funds funds
2022 2022 2022 2021
P.
Engagement 172,763 100,177 272&940 254,676
Represen! ation 493,678 259,396 753,074 651,082
Student Acgvities 131,255 64,478 195,733 221,487
Student volunteering 89,387 50,700 140,087 170,432
Total 2022 887,083 474,751 1,361,834 1,297,677
Total 2021 857,211 440,466 1,297,677

Engagement Representation Student Student Total Total
Activities Devefopment Funds Funds
2022 2022 2022 2022 2022 2021
2 2 2 2 2
Staff costs 34,265 102,632 20,489 18,403 'f75,789 151,028
Depreciation 3,023 9,054 1,807 1,623 15,507 12,130
Bank charges 424 76 72'7 1,069
Subscrlptions 3,572 'I0,688 2,136 1,818 16,326
and affiliations
Consultancy 694 2,080 373 3,562 3,368
General 4,351 'I3,033 2,602 2,337 22 323 40,748
expenses
Insurance 2,274 6,812 1,360 1,222 11,668 14,325
irrecoverable 446 1,335 267 239 2,287 1,436
VAT
Computer 2,437 7,301 1,457 1,309 12,504 5,601
licences and
!T
maintenance
Postage 21
Repairs 190 569 114 102 975 1,221
Telephone 1,693 5,071 1,012 909 8,685 8,311
Training 1,746 5,229 1,044 938 8,957 5,782
Travel 310 186 167 1,693 751
Rent 22,647 27,176 18,118 9,059 77,000 77,000
Pension 13,702 4I,041 8,193 7,359 70,295 71,599
finance cost
Pension 2,373 7,106 1,419 1,275 12$175 24,395
protection fee
Printing
and		 450 1,346 269 242 2,309 1,895
stationary
Governance 5,861 17,555 3,505 3,148 30&069 19,786
costs (note 11)
Total 2022 100,176 259,397 64,478 50,700 474,751 440,466
Total 2021 89,889 214,475 77,086 59,016 440,466

Unrestricted Unrestricted Total Total
Funds Funds Funds
2022 2022 2021
Auditor*s remuneration 12,675 12,675 20,176
Trustees' expenses 2,005 2,005 924
Professional
fees		 28,094 28,094 5,000
Tofa/ 2022 42,774 42,774 26,100
Total 2021 26,100 26,100
12. Auditor's remuneration
2022 2021
Fees payable to the Union's Auditor for the audit of Ihe Union's annual accounts 10,000 9,660
Fees payable to the Union's Auditor in respect of:
Accounts preparation and Corporation Tax Computation for substdiary company 3,000 1,750
All Non-audit services not included above (325) 8,766
13. Staff costs
Group Group Company Company
2022 202'i 2022 2021
2 2 2 2
Wages and salaries 1,122,271 1,015,269 17064,104 979,046
Social security costs 91,288 74,520 887703 70,735
Contdbution to defined contribution pension 39,636 41,431 38,203 38,787
schemes
1,253,195 1,131,220 1,191,010 1,088,568

The average
number
ofpersons
employed
by the U
follows:		 nion during the year was as
Group Group
2022 2021
No. No.
Employees 95 53
Group Group
2022 202
No,
No.
Representation 15 15
Student activities
Engagement 10
Trading
Finance
42 37
Group Group
2022 2021
No. No.

Leasehold
improvements		 CitY Dances &
Concerts		 Bar
Furnishings		 Computer
equipment		 Fixtures and
fittings		 Total
P
Cost
At 1July 2021 23,079 52,436 82,395 29,945 18,613 206,468
Additions 21,068 1,742 31,257 54,067
At 30June 2022 23,079 73,504 84,137 61,202 18,613 260,535
Depreciation
At 1 July 2021 23,079 30,401 74,336 26,581 16,691 171,088
Charge for the year 8,033 6,234 6,222 641 2'I, I30
At30June 2022 23)079 38,434 80,570 32,803 17,332 192,218
Net book value
At30June 2022 35,070 3,567 28,399 1,281 68,317
At30June 2021 22,035 8,059 3,364 1,922 35,380

Name Company Principal activity CIsss of Holding
number shares
Leeds Beckett Students Union Trading 02679183 Licensed trading Ordinary 100%
Limited
The financial results of the subsidiary for the year were:
Income «Pendftu«Profit/(Loss)/ Net assets
Surplus/
(Deficit) for the
year
Leeds Beckett Students Union Trading 251,435 (140,838) 110)597 110)597
LImited

Group Group Company Company
2022 2021 2022 2021
E E E
Finished goods and goods for resale 13,866 4,893 672 87

Group Group Company Company
2022 2021 2022 2021
E E E
Trade debtors 39,236 8,116 38,954 8,116
Amounts
owed by group		 undertakings 108,010 330,024
Other debtors 78,229 51,094 78,229 51,094
Prepayments and accrued income 19,730 48,721 19,730 48,721
137,195 107,931 244,923 437,955

Group Group Company Company
2022 2021 2022 2021
E E
Trade creditors 65,636 29,943 49,368 29,665
Other taxation and social security 108,368 68,73f 28,65S 21,998
Other creditors 120,717 76,409 120,717 76,409
Accruais and deferred income 72,763 62,298 70,963 62,298
367,484 237,381 269,707 190,370

Balance at 1 Income Expenditure Transfers Balance at 30
July 2021 in/out June 2022
Unrestricted
funds
General
funds		 728,511 1,715,093 (1,681,744) (129,890) 63'I,970
Leeds Beckett Trading
Limited		 42,377 251,435 (140,838) (42,377) 110,597
Pension reserve (2,736,936) (95,793) 172,267 (2,660,462)
(1&966&048) 1&966,528 (1&918,375) (1,917,895)
Restricted funds
Engagement 1,565 1,565
Rent In Kind 177,000 (177,000)
Ceased Societies 3,143 1,996 5,139
Student
Activities		 20,067 13,109 (23,015) (1,996) 8,165
Representation 4,550 733 (993) 4,290
Student
Development		 7,888 2,501 (2,520) 7,669
37,213 193,343 (203,528) 27,028
Tots!offunds (1,928,835) 2,159,871 (2,121,903) (1&890,867)

Balance at 1 income Expenditure Transfers Balance at 30
July 2020 in/out June 2021
Unresfrlcted funds
General
funds		 517,025 1,620,140 {1,346,189) (62,735) 728,511
Leeds Beckett
Limited		 Trading 36,729 93,758 (51,381) (36,729) 42,377
Pension reserve (2,749,761) (88,112) 100,937 (2,736,936)
(2,196,007) 1,714,168 (1,485,682) 1,473 (1,966,048)
Restricted funds
Engagement 5,000 (3,435) 1,565
Rent in I(ind 177,000 (177,000)
Ceased Societies 3,143 3,143
Student
Activities		 14,504 15,004 (6,298) {3,143) 20,067
Representation 1,473 7,258 (2,708) (1,473) 4,550
Student
Devetopment		 5,051 6,044 (3,207) 7,888
21,028 210,306 (192,648) (1,473) 37,213
Total offunds (2,174,979) 1,924,474 (1,678,330) (1,928,835)

Balance at 1 income Expenditure Transfers Balance at 30
July 2021 in/out June 2022
Genera! funds (1,966,048) 1,966,528 (1,918,375) ('l,917,S95)
Restricted funds 37,213 193,343 (203,528) 27,028
(1,928,835) 2,159,871 (2,121,903) (1,890,867)
ummary of funds- prior year
Balance at 1 !ncome Expenditure Transfers Balance at 30
July 2020 In/out June 2021
General funds (2,196,007) 1,714,168 (1,485,682) 1,473 (1,966,048)
Restricted funds 21,028 210,306 (192,648) (1,473) 37,213
(2,174,9?9) 1,924,474 (1,678,330) (1,928,835)

Unrestricted Restricted Total funds
funds funds
2022 2022 2022
f. E
Tangible fixed assets 68,317 68)317
Current asseis 946,104 27,028 973,132
Creditors due within one year (367,529) (367,529)
Creditors due in more than one year (2,564,787) (2,564,787)
Tote/ (1,917,895) 27,028 (1,890,867)

Unrestricted Restricted Total funds
funds funds
202'I 2021 2021
E E E
Tangibie fixed assets 35,380 35,380
Current assets 896,414 37,213 933,627
Creditors due within one year (237,381) (237,381)
Creditors due in more than one year (2,660,461) (1,660,461)
Total (1,966,048) 37,213 (1,928,835)

Group Group
2022 2021
Net income/(expenditure) for the year (as per Statement of Financial Activities) 37,968 246,144
Adjustments for:
Depreciation charges 21,132 'I4,928
Decrease/(Increase) in stocks (8,9?3) 9,562
Decrease/(increase) in debtors (29,219) 75,612
Increase/(decrease) in creditors 110,901 (26,957)
Pension finance costs 95,793 88,112
Net cash provided by operating activities 227)602 407,401
24. Analysis ofcash and cash equivalents
Group Group
2022 2021
p
Cash ln hand 822,071 820,803
S22)071 820,803
25, Analysis ofchanges In net debt
At 1 July 2021 Cash Flaws At 30June 2022
Cash at bank and In hand 820,803 1,268 822,071
820,803 1,268 822,071

Group GrouP Company CornPany
2022 2021 2022 2021
E
Amounts payable
Not later than 1year 1)814 1,943 1,814 1,943
Later than 1 year and not later than 5years 1)662 2,751 1,562 2,751
Total 3,376 4,694 3,376 4,694

2022 2021
Advice UK Ltd 2,362 2,362
National Union of Students 33,711 33,711
National Association of Money Advisors 600 840
NUS Seduces Ltd 380
UNIPOL 20,932 20,932
57,605 58,225