2022-07-31-accounts - Coventry University Students' Union Limited

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		Pages
Trustees' Annual Report		1 —10
Independent	Auditor's Report	11 —13
Consolidated	Statement of Financial Activities	14-15
Consolidated	and Charity Balance Sheets	16
Consolidated	group statement ofcash flows	17
Notes to the	Consolidated Financial Statements	18to30

Dr Bajlit Dhadds Dr Funkh Aslsm MrJames Hunt MrJen:my Robinson Mr Lany Coltman	Dr Bajlit Dhadds Dr Funkh Aslsm MrJames Hunt MrJen:my Robinson Mr Lany Coltman	30November 2017 22 Februan 2019 1September 2020 29Apnl 2021 29April 2021	17Febr	uary 2021
Full time (Sabbatical) Officers
The Sabbatical Offfcers are elected in to office by the student		population and to foun the	Executive	Committee.	The
Sabbatical Otffcers that held office dunng the year are:
Name	Position	Appointed	Tenn Expired
Augustine Nwosu	Deputy Chair	6January2020	30June	2021
Obinna Okereke		1Ju/y 2020	30June	2022
Abimbola Ojo		1July 2019	30June	2021
Favour Sanusi		1July 2019	30June	2021
indica Norcup		1July 2021	30June	2022
Catarina Femandes Csrdoso	Deputy Chair	1Ju/y 2021	30June	2022
Gabriela Sulikowska Bisnca Andrei		1Ju/y 2021 1Ju/y 2022	30June	2022
Chisom Ezeanochie		1Ju/y 2022
lkponmwosa Omokam	Deputy Chair	1July 2022
Cathenne Simpson		1Ju/y 2022
Student Trustees
The Student Trustees that held olffce during the year wen.':
Name	Position	Appointed	Term Expired
Adam Khan		1September 2020	1Ju/y 2021
Oluwafunmini Aluko		1September 2020	1Ju/y 2021

Values: Quality, Bravery, Inn	ovation, Collaboration, Com	munity Focus.
Strata ic Priorities:
Strata	ic Priori				Nleasure of			Success
Generate signiricant surplus	and to diversify	Financial	performance			agreed annually			through the budget
income to su ort the chari		o erational		lannin	c	le
Reduce CUSU expenditure	and make savings for	Financial		performance			and	resource		allocation
the chart		demonstratin		this clearl			throu	h annual		re ort
To promote the charitable aims ofCUSU and		Perception		ofCUSU	from		stakeholders
im rove its re utation
Development of additional student opportunities		Number	of students			we	upskill and			employ	through
throu h the commercial orffolio		o erations

Support	when it's needed	when it's needed	when it's needed	when it's needed	when it's needed	when it's needed	when it's needed	when it's needed
~	Our Wellbeing and Inclusion events have been attended by more than 1000 people,								including			support		groups,
	free meals, crafts, and puppy yoga.
Developing skills
~	Our volunteering offer is growing with over 550opportunities taken up			by	many	thousands				ofstudents.
~	We trained over 2500 students in a range of skills including		British Sign Language,							problem			solving,		time
	management, teamwork, communication and leadership.
~	This year saw the launch ofthe Digital Badge program with 2030badges				rewarded
~	Given the challenges with physical activity Leadership Award		154 Leadership				Award			certificates			awarded			to
	students engaged in internal and external activities.
~	The Add+ Vantage team saw a consistent uptake with 1453	students			engaging			in	SU modules				over	the		3
	semesters.
Cmating	communities
~	We have had over 121 speakers deliver talks to 19ofour societies.
~	League wins for Men's Volleyball and Women's Basketball,		Cup	Champions				in	Basketball,			30 national
	competition medals including Karate, Taekwondo, and Archery.
~	Biggest ever turnout for our sporting Varsity with Warwick SU with engagement					from more than					1000students.
The new	SU strategic plan gives us a pathway to improve student engagement			over the next				4	years.
New Strategic Plan
The new	strategic plan 'Your SU - Supporfing Siudent Success 2022-26' groups				the work			of the SU			into		the following
areas:
Vision -	All students at Coventry University Group will fulfil their potential
Values -We will be helpful - We will be inclusive - We will be ethical
Enablers
~	Governance and Relationships
~	Finance and Resources
~	Communication and Insight
~	People and Culture
Theme 1,Improving the academic experience
~	We will ensure all students have a voice in improving every aspect oftheir academic experience.
~	We identify and remove barriers to students succeeding in their	course
~	We will be experts in the student experience across afi modes of		delivery		at Coventry				University		Group
Theme 2, Support when it's needed
~	We will help students to navigate the complexity of university life
~	We will help students overcome the challenges they face in their		non-academic			lives that				impact	their studies
~	We will advocate for value-for-money in afi aspects ofstudent life
Theme 3,Cmating communities
~	We will help students to find and create their communities
~	We will celebrate our increasingly globalised learning community
~	We will help students develop as ective citizens who create positive social, civic					and		community			impact
Theme 4, Developing skills
~	We will help students recognise the expefience, resilience and confidence				they gain			whilst		at University
~	We will provide opportunities for students to develop sodal capital		through		training,			volunteering			and		work
	experience
~	We will partner with Coventry University Group to help students	transition			into the		employment,				further study
	orcareer progression they deserve
Headline	Goals
~	Support Coventry University Group tobe in the top quartile ofthe		NSS	for	overall	satisfaction
~	Have over 70% ofstudents who are satisfi'ed with the SU as measured			by	the NSS

		Note	Unrestricted	Restricted	Total	Total
			Funds	Funds	2022	2021 (as
				t	f	restated) 8
INCOMING AND ENDOWMENTS	FROM
Charitable activities
Sports clubs &societies			12,940	243,384	256,324	143,891
Democracy &representation			2,341,962		2,341,962	1,849,779
Volunteering &social work			710,192		710,192	601,337
Satellite Campus						322,797
Trading income			710,754		710,754	660,749
Investment income
Total			3,776,195	243,384	4,019,579	3,578,558
EXPENDITURE ON
Fundraising trading costs			708,223		708,223	571,737
Charitable activities
Sports dubs &societies			431,479	212,553	844,032	294,784
Democracy &representation			1,118,364		1,118,364	B39,779
Volunteering 8 social work			718,977		718,977	410,892
Students' union advice centre			298,276		296,276	185,835
Other central services			288,240		288,240	856,135
Satellite Campus						223,232
Community 8 inclusion			172,125		172,125
Total			3,733,684	212,553	3,946,237	3,182,394
Net income/(expenditure)			42,511	30,831	73,342	396,164
Reconciliation offunds
As previously reported			1,112,231		1,112,231
Prior year adjustment		25	~380466	192565	~187901
As restated		21	731,765	192,565	924,330	528,166
Total funds carried forward			774,276	223,396	997,672	924,330

		Unrestricted	Restricted	Total
		Funds	Funds	2021
		6	8	8
INCOMING AND ENDOWMENTS	FROM
Charitable activities
Sports clubs &societies		82,563	61,328	143,891
Democracy &representation		1,849,779		1,849,779
Volunteering &social work		601,337		801,337
Satellite Campus		322,797		322,797
Trading income		660,749		660,749
Investment income
Total		3,517,230	61,328	3,578,558
EXPENDITURE ON
Fundraising trading costs		571,737		571,737
Charitable activities
Sports clubs &societies		229,629	65,155	294,784
Democracy &representation		410,892		410,892
Volunteering &social work		185,835		185,835
Students' union advice centre		639,779		639,779
Other central services		856,135		856,135
Satellite Campus		223,232		223,232
Total		3,117,239	65,155	3,182,394
Net incomel(expenditure)		399,991	(3,827)	396,164
Reconciliation offunds
Total funds brought forward		331,774	196,392	528,168
Total funds carried fonvard		731,765	192,565	924,330

	Note	2022	2022	2021	2021
		Group 5	Charity 8	Group f	Charity 5
FIXEDASSETS
Tangible assets	13	226,967	226,001	62,087	60,064
Investments	14		1		1
		226,967	226,002	62,087	60,065
CURRENT ASSETS
Stocks	15	3,472		5,661
Debtors	16	341,017	628,247	403,905	660,664
Cash at bank and in hand		890,202	858,499	1,295,045	1,055,415
		1,234,691	1,486,746	1,704,611	1,716,079
CREDITORS
Amounts falling due within one year	17	(96,671)	(67,353)	(461,902)	(188,408)
NET CURRENT ASSETS		1,138,020	1,419,393	1,242,709	1,527,671
TOTAL ASSETSLESSCURRENT
LIABILITIES		1,364,987	1,645,395	1,304,796	1,587,736
PROVISIONS FOR LIABILITIES	18	(367,315)	(367,315)	(380,466)	(380,466)
NET ASSETS		997,672	1,278,080	924,330	1,207,270
FUNDS
Unrestricted funds	21	774,276	1,054,684	731,765	1,014,705
Restricted funds	21	223,396	223,396	192,565	192,565
TOTAL FUNDS		997,672	1,278,080	924,330	1,207,270

			F	OR THE	YEAR	ENDED 3	1JULY 2022
						Notes		2022	2021
								8	8
Cash flows from operating		activities:
Net cash provided by / (used		in) operating		activities				(152,435)	355,096
Cash flows from investing		activities:
Purchase oftangible fixed assets Interest receivable								(252,755) 347	(43,796) 5
Net cash provided by / (used		in) investing	activities					(252,408)	(43,791)
Change in cash and cash period	equivalents		in	the reporting				(404,843)	311,305
Cash and cash equivalents	at the beginning			ofthe				1,295,045	983,740
reporting period
Cash and cash equivalents		atthe end	of	the reporting
period								890,202	1,295,045
1. Reconciliation ofnet	income/(expenditure)				to net	cash flow	from operating	activities
								2022 8	2021f
Net income/(expenditure) for the reporting period (as per the statement offinancial								73,342	396,164
activities)
Adjustments for:
Depreciation charges								87,875	56,294
Interest receivable Pension deficit movement							(347) (13,151)		(5)
(Increase)/decrease in stocks								2,189	628
(increase)/decrease in debtors Increase/(decrease) in creditom							62,888 (365,231)		(232,894) 134,909
Net cash provided by (used		in) operating
activities							(152,435)		355,096
2. Analysis ofchanges in		net funds
							As at 1	Cash	As at
							August	flow	31July
							2021		2022
Net cash
Cash at bank and in hand							1,295,045	(404,843)	890,202
Total							1,295,045	(404,843)	890,202

. ACTIVITIES FOR GENE	RATING	FUNDS: TRADING	INCOME
				2022	2021
Bar &shop sales				37,029	11,702
Advertising &room hire				218,203	178,988
Ticket sales					3,125
Events &other income				448,998	219,493
Grants				6,524
COVID-19 Furlough					28,113
COVID-19 Testing centre					219,328
				710,754	660,749
. INVESTMENT INCOME
				2022	2021
				6	K
Bank interest				347
. INCOMING RESOURCES FROM		CHARITABLE ACTIVITIES
				2022	2021
				6	E
Ticket sales &membership	fees	Sports clubs	&societies	256,324	61,198
Other income		Sports dubs	8 societies		64,474
Grant		Sports dubs	&societies		18,219
Other income		Democracy	&representation	88,817	91,951
COVID-19support		Democracy	&representation		174,828
Grants		Democracy	8 representation	2,145,878	1,583,000
Grants		Democracy	&representation	107,267
Grants		Volunteering	&Social work	664,931	601,337
Grants		Volunteertng	8 Social work	45,261
Grants		Satellite Campus			308,500
Other income		Satellite Campus			14,297
				3,308,478	2,917,804

Ticket sales	&membership	fees
Other income
Grant
Other income
COVID-19support
Grants
Grants
Grants
Grants
Grants
Other income

Grants received, included	the above, are as follows	the above, are as follows	the above, are as follows
							6
Democracy &representation Sports dubs 8 societies Volunteering 8 social work Satellite Campus					2,253,145 710,192		1,583,000 18,219 601,337 308,500
					2,963,337		2,511,056
Included within the COVID-19 support Retention Scheme.		are receipts	totalling	Fnil (2021 - 691,106) relating		to the Coronavirus Job
6. COST OF GENERATING	FUNDS
						2022	2021
							6
Purchases Direct wages &salaries Other costs ofsales						13,228 284,443 388,239	2,834 351,037 182,468
Administrative costs Depreciation						19,806 2,507	33,374 2,024
						708,223	571,737

. CHARITABLE ACTIVITIES COST	S	S
	Direct costs		Support costs		2022	2021
		6		6	6	6
	(See note	8)	(Seenote	9)	Total	Total
Sports clubs &societies	471,907		172,125		644,032	294,784
Volunteering &social work Students' union advice centre	489,477 181,526		229,500 114,750		718,977 296,276	410,892 185,835
Democracy &representation Other central services	888,864 58,740		229,500 229,500		1,118,364 288,240	639,779 856,135
Satellite Campus						223,232
Community & inclusion			172,125		172,125
	2,090,514		1,147,500		3,238,014	2,610,657

8. DIRECT COSTS OF CHARITABLE A	CTIVITIES
			2022	2021
			6	6
Staffcosts			1,449,847	1,979,554
Hire ofequipment &facilities Insurance			3,224 1,009	157 32,750
Travelling &subsistence Telephone Printing, postage &stationery Otherexpenses Agency costs Subscriptions Special pmjects &campaigns Training &development Bank charges Sports clubs and societies costs COVID-19 related costs			11,801 1,160 10,985 4,218 59,066 212,553	190 7,403 8,520 15,946 63,342 51,620 1,250 4,452 65,155 94,761
University charges Consultancy Computers &Software Coventry Sport Special Projects			57,605 21,080 23,048 22,912 212,006	53,997 8,250 37,729
			2,090,514	2,425,076
9. SUPPORT COSTS
	Management 6	Governancef	2022 6	2021 6
			Total	Total
Sports clubs &societies Democracy &representation Volunteedng 8 social work	168,602 222,136 222,136	5,523 7,364 7,364	172,125 229,500 229,500	53,818 25,981 35,281
Students' union advice centre	111,088	3,682	114,750	35,261
Other centra I services	222,136	7,364	229,500	25,981
Satellite Campus				9,279
Community & inclusion	166,602	5,523	172,125
	1,110,680	36,820	1,147,500	185,581

et income/(expenditure) is	harging:
			2022	2021
			8	E
Auditods remuneration			10,300	9,092
Depreciation —owned assets Hire ofplant and machinery & equipment			87,875	54,270 157
Operating leases relating to property			24,681
Rental income receivable
2. STAFF COSTS
otal staff costs for the year for Coventry	University	Students'	Union Limited and CUSU Services Limited were	as follows:
			GROUP
			2022	2021
Wages and salaries Social security costs Other pension costs			2,204,177 203,357 85,689	2,070,237 173,166 81,935
			2,493,223	2,325,338

HARITY
	Improvements	Fixtures and	Motor	Office
	to properly	fittings 6	vehicles 8	equipmentf	Total 5
	E
COST
At 1 August 2021 Additions	224,497	7,729	32,341	181,625 26,808	221,695 251,305
At 31 July 2022	224,497	7,729	32,341	208,433	473,000
DEPRECIATION
At 1 August 2021 Charge for the year	44,899	6,901 415	32,341	122,389 40,054	161,631 85,388
At 31 July 2022	44,899	7,316	32,341	162,443	246,999
NET BOOK VALUE
At 31 July 2021	179,598	413		45,990	226,001
At 31 July 2021		828		59,236	60,064

		Improvements
		to	Office	Fixtures and		Motor		Short
COST		property 6	equipment 8	fittings 8		vehicles 6		leasehold 6		Total
At 1 August 2021 Additions		33,895 224,497	181,625 26,808	66,963 1,450		32,341		60,000		374,824 252,755
At 31 July 2022		258,392	208,433	68,413		32,341		60,000		627,579
DEPRECIATION
At 1 August 2021 Charge for year		33,895 44,899	122,389 40,054	64,112 2,922		32,341		60,000		312,737 87,875
At 31 July 2022		78,794	162,443	67,034		32,341		60,000		400,612
NET BOOK VALUE
At 31July 2022		179,598		1,379						226,967
At 31July 2021			59,236	2,851						62,087
4. INVESTMENTS
						GROUP			CHARITY
				2022		2021		2022		2021
					6		2		6	6
CUSU Services Limited
he audited financial	statements	ofCUSU Services	Limited for the year ended 31 July		2022 show		following	results:
								2022		2021
								8		8
urnover ost ofsales							710,754 (638,316)		632,636 (547,296)
ross pro8t							72,438			85,340
ther income dministrative expenses							(69,906)			28,113 (35,399)
etained profit/(loss)								2,532		(78,054)
umulative retained	profits/(losses)						(280,407)		(282,939)

			GROUP			CHARITY
		2022	2021		2022	2021
		6		6	6	6
Shop stock		3,472	5,661
16. DEBTORS
		GROUP .			CHARITY
		2022	2021		2022	2021
		6	6		6	6
Trade debtors		279,581	105,995	246,979		1,600
Other debtors		61,436	297,910	381,288		659,064
		341,017	403,905	628,247		660,864
Amounts	falling due after more than one year:
Amounts	owed by group undertakings			334,923		427,439
17. CREDITORS: AMOUNTS		FALLING DUE WITHING ONE YEAR
		GROUP			CHARITY
		2022	2021		2022	2021
		6	6		6	6
Trade creditors		25,540	2,573		17,692
VAT		120	38,726
Other creditors		24,528	2,248	18,963		1,345
Accruals	and deferred income	46,483	418,355	30,698		186,359
		96,671	461,902	67,353		188,408
18.PROVISIONS FOR LIABILITIES
				2022	2021
				6		6
Provisions			367,315		380,466

Balance as at 1 August 2021	Balance as at 1 August 2021			384,282
Amount released Amount released Amount deferred	to income earned from charitable activities to income earned from trading activities in the year			(159,763) (224,519) 10,031
Balance as at 31 July 2022				10,031
0. OPERATING	LEASE COMMITMENTS
he following operating lease payments		are committed	to be paid:
				2022	2021
				8
Expiring:
Within one year Between one and	five years			25.980 23,969	25,980 49,949
In more than five	years
				49,949	75,929

et movements in funds, included in the	above are as follows:
	Incoming	Resources	Transfers	Movement
	resources	expended		in funds
	8	8		8
Unrestricted funds
General funds Pension deficit liability	3,776,195	(3,723,033) ~10851	(23,802) 23802	29,360 13151
	3,776,195	(3,733,684)		42,511
Restricted Funds
Clubs and Societies	243,384	(212,553)		30,831
TOTAL FUNDS	4,019,579	(3,946,237)		73,342

			Net movement
		At 1.8.20	in funds	At31.7.21
		8	8	8
Unrestricted funds
General	fund	723,198	389,033	1,112,231
Pension	deficit liability	L33S1 424	10958	~380468
		331,774	399,991	731,765
Restricted Funds
Clubs and Societies		196,392	(3,827)	192,565
TOTAL	FUNDS	528,166	396,164	924,330

et movements in funds, induded in the abo	ve are as follows:
	Incoming	Resources	Movement in
	resources E	expended F	fundsf
Unrestricted funds
General funds Pension deficit liability	3,506,272 10958	(3,117,239)	389,033 10888
	3,517,230	(3,117,239)	399,991
Restricted Funds
Clubs and Societies	61,328	(65,155)	(3,827)
TOTALFUNDS	3,578,558	(3,182,394)	396,164