# ## |||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| |||Note|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|in|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|stated after c|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| ## ## ## ## ## ## ## ## ## ## ## ##