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2023-07-31-accounts

Pages
Trustees'
Annual
Report		 1 —10
Independent Auditor's
Report		 11 —13
Consolidated Statement ofFinancial Activities 14
Consolidated and Charity Balance Sheets
Consolidated group statement ofcash flows 16
Notes to the Consolidated
Financial Statements		 17-29

Name Position Appointed Resigned
Mrs Jacqui Clements Chair 30September 2019
Dr Furrkh As/am 22 February 2019
MrJames Hunt 1September 2020
Mr Jeremy Robinson 29Apnl 2021
Mr Larry Coltman 29April 2021
Miss Naomi
Smith		 16November 2022
Sabbatical Of ficers that he ld office during the year are:
Name Position Appointed Tenn Expired
Bianca Andrei 1 Ju/y 2022 30June 2023
Chisom Ezeanochie 1 Ju/y 2022 30June 2023
lkponmwosa Omokaro Deputy Chair 1 Ju/y 2022 30June 2023
Catherine
Simpson		 1 Ju/y 2022 30June 2023
Panchami
Satheesh		 1 Ju/y 2023
Julia Reszka 1 Ju/y 2023
Apama
Go//a		 1 Ju/y 2023
Akhil Sha / Ju/y 2023

The Student Truste es that h eld office during the year were:
Name Position Appointed Term Expired
Mr Lewis Callary 16November 2022
Miss Kimberiey Panashe 16November 2022 10Ju/y 2023
Muponda
Miss Nena Rozerin Yavuz 16November 2022 10Ju/y 2023

21-
22		 22-
23		 23-24 1NIrg t 24-'25
Your Students'
Union total turnover		 (Fk) 3800 3200 3600 4000 4500 5000
Surplus
from CUSU Services (fk)		 0 15 70 140 210 280
Number of new
significant
services
launched
per year developed
with university		 or other SUs
Number of new campus
outlets
launched		 per
year with benefits to students
Enabler —Communications
and Insight
Enabling
Single Sign On with Group		 systems has had a very positive impact on access to our digital offer with half
students
logging
into the SU website.		 Our new brand also seems to have had a positive impact on our c ommunicati
and student interaction.
21 22 22 23 23-24 2446 25-26
22 23 target target target target
„Students
(%)		 who say they know how to engage with the SU 64 75
2Studei1ts logging
into an SU website at least oi1ce (%)		 32 50 36 40 45 50
3 Students
(%)		 aware of SU campaigns in at least two areas 59 87 62 65 68 71

Note Unrestricte Restricted Total Total
d Funds 2023 2022
Fundsf
INCOMING
AND ENDOWMENTS		 FROM
Charitable
activities
Sports clubs 8 societies
Democracy 8 representation
Volunteering
8 social work		 8,439
2,096,338
697,331		 286,888 295,327
2,096,338
697,331		 256,324
2,341,962
710,192
Trading
income		 347,961 347,961 710,754
Investment
income		 8,672 8,672 347
Total 3,158,741 286,888 3,445,629 4,019,579
EXPENDITURE ON
Fundraising
trading costs		 335,954 335,954 708,223
Charitable
activities
Sports clubs 8 societies
Democracy 8 representation
Volunteering
8 social work
Students'
union advice centre
Other central services
Community
8 inclusion		 423,515
898,016
624,378
337,537
430,227
180,681		 259,629 683,144
898,016
624,378
337,537
430,227
180,681		 644,032
1,118,364
718,977
296,276
288,240
172,125
Total 3,230,308 259,629 3,489,937 3,946,237
Net income/(expenditure) (71,567) 27 259 (44 308) 73,342
Other recognised
gains/(losses)
Actuarial gains/(losses)
on defined		 benefit (55,951) (55,951)
schemes
Net movement
in funds		 (127,518) 27,259 (100,259', 73,342
Reconciliation
offunds
Total funds brought
forward		 21 774,276 223,396 997,672 924,330
Total funds carried forward 646,758 250,655 897,413 997,672
Note 2023 2023 2022 2022
Group
E		 Charity Group Charityf
FIXEDASSETS
Tangible assets 13 157,958 157,475 226,967 226,001
Investments 14 1 1
157,958 157,476 226,967 226,002
CURRENT ASSETS
Stocks 15 8,290 3,472
Debtors 16 335,331 641,551 341,017 628,247
Cash at bank and in hand 895,564 849,892 890,202 858,499
1,239,185 1,491,443 1,234,691 1,486,746
CREDITORS
Amounts
falling due within one year		 17 (91,318) (74,697) (96,671) (67,353)
NET CURRENT ASSETS 1,147,867 1,416,746 1,138,020 1,419,393
TOTAL ASSETSLESSCURRENT
LIABILITIES 1,305,825 1,574,222 1,364,987 1,645,395
PROVISIONS FOR LIABILITIES 18 (408,412) (408,412) (367,315) (367,315)
NET ASSETS 897,413 1,165,810 997,672 1,278,080
FUNDS
Unrestricted
funds		 21 646,758 915,155 774,276 1,054,684
Restricted funds 21 250,655 250,655 223,396 223,396
TOTAL FUNDS 897,413 1,165,810 997,672 1,278,080

F OR THE YEAR ENDED 31 JULY 2023
Notes 2023f 2022
F
Cash flows from operating
activities:
Net cash provided
by / (used in) operating		 activities 8,447 (152,435)
Cash flows from investing
activities:
Purchase oftangible fixed assets
Interest receivable		 (11,757)
8,672		 (252,755)
347
Net cash provided
by / (used in) investing		 activities (3,085) (252,408)
Change
in cash and cash		 equivalents in the reporting 5,362 (404,843)
period
Cash and cash equivalents at the beginning ofthe 890,202 1,295,045
reporting
period
Cash and cash equivalents
period		 at the end ofthe reporting 895,564 890,202
1.
Reconciliation
of net		 income/(expenditure) to net cash flow from operating activities
2023 2022
f.
Net income/(expenditure)
for the reporting		 (44,308) 73,342
period (as per the statement offinancial
activities)
Adjustments
for:
Depreciation
charges
Interest receivable		 80,766
(8,672)		 87,875
(347)
Unwinding
ofdiscount
Deficit funding
contributions
(Increase)/decrease
in stocks
(increase)/decrease
in debtors
Increase/(decrease)
in creditors		 10,290
(25,144)
(4,818)
5,686
(5,353)		 10,651
(23,802)
2,189
62,888
(365,231)
Net cash provided
by (used in) operating
activities		 8,447 (152,435)
2.
Analysis ofchanges		 in net funds
As at 1 Cash As at
August flow 31 July
2022 2023
Net cash
Cash at bank and in hand 890,202 5,362 895,564
Total 890,202 5,362 895,564

2023 2022
E
Bar &shop sales 113,223 37,029
Advertising
&		 room hire 80,025 218,203
Events 8 other income 154,713 448,998
Grants 6,524
347,961 710,754
4. INVESTMENT INCOME
2023 2022f
Bank interest 8,672 347
5. INCOMING RESOURCES FROM CHARITABLE ACTIVITIES
2023 2022
E
Ticket sales 8 membership fees Sports clubs 8 societies 295,327 256,324
Other income Democracy & representation 4,742 88,817
Grants Democracy & representation 2,028,000 2,145,878
Grants Democracy &representation 63,596 107,267
Grants Volunteering &Social work 690,259 664,931
Grants Volunteering 8 Social work 7,072 45,261
3,088,996 3,308,478

Grants received, included
in		 the above, are as follows

2023 2022
E F
Democracy 8 representation 2,091,596 2,253,145
Sports clubs & societies
Volunteering
8 social work		 697,331 710,192
2,788,927 2,963,337
. COST OF GENERATING FUNDS 2023 2022
Purchases
Direct wages 8 salaries
Other costs ofsales
Administrative
costs
Depreciation		 54,043
204,514
66,293
10,621
483		 13,228
284,443
388,239
19,806
2,507
335,954 708,223

. CHARITABLE ACTIVITIES COSTS
Direct costs Support costs 2023 2022
E
(See note 8) (See note 9) Total Total
Sports clubs & societies
Volunteering
8 social work
Students'
union advice centre
Democracy 8 representation
Other central services
Community
8, inclusion		 502,463
383,471
217,083
657,109
189,320		 180,681
240,907
120,454
240,907
240,907
180,681		 683,144
624,378
337,537
898,016
430,227
180,681		 644,032
718,977
296,276
1,118,364
288,240
172,125
1,949,446 1,204,537 3,153,983 3,238,014

2023f 2022
Staff costs 1,382,005 1,449,847
Hire ofequipment
&facilities		 2,972 3,224
Insurance 992 1,009
Travelling
8 subsistence		 9,746 11,801
Telephone 1,259 1,160
Other expenses 16,954 10,985
Agency costs 2,389 4,218
Subscriptions 58,743 59,066
Sports clubs and societies costs 259,629 212,553
University
charges		 59,532 57,605
Consultancy 3,990 21,080
Computers
8 Software		 30,618 23,048
Coventry
Sport		 13,046 22,912
Special Projects 107,571 212,006
1,949,446 2,090,514
. SUPPORT COSTS
Management
E		 Governance
E		 2023 2022f
Total Total
Sports clubs &societies 176,803 3,877 180,680 172,125
Democracy 8 representation 235,738 5,170 240,908 229,500
Volunteering
8 social work		 235,738 5,170 240,908 229,500
Students'
union advice centre		 117,868 2,585 120,453 114,750
Other central services 235,738 5,170 240,908 229,500
Community
& inclusion		 176,803 3,877 180,680 172,125
1,178,688 25,849 1,204,537 1,147,500

Sports, Democracy
&		 Volunteering SU Other Community
clubs & representation & advice Central & 2023 2022
societie social work centre Services inclusion
s
Total Total
Sundries 22,254 29,672 29,672 14,836 29,672 22,254 148,360 148,827
Repairs and
renewals 655 874 874 437 874 655 4,369 7,949
Travelling 2,891 3,855 3,855 1,926 3,855 2,891 19,273 9,760
Training 4,895 6,527 6,527 3,262 6,527 4,895 32,633 35,995
Staff costs 124,601 166,135 166,135 83,067 166,135 124,601 830,674 760,191
Office costs 9,464 12,619 12,619 6,309 12,619 9,464 63,094 62,589
Depreciation 12,043 16,057 16,057 8,028 16,057 12,043 80,285 85,369
176,803 235,739 235,739 117,865 235,739 176,803 1,178,688 1,110,680

Sports,
clubs &
societiesf		 Democracy
&
representation		 Volunteering
&
social workf		 Volunteering
&
social workf		 SU
advice
centre
F		 Other
Central
Services
F		 Community
&
inclusion
f		 2023
f
Total		 2022
Total
Auditor's
AGM &		 remuneration
other costs		 3,273
605		 4,364
806		 4,364
806		 2 181
402		 4364
806		 3,273
605		 21,819
4,030		 22,333
14,486
3,878 5,170 5,170 2,583 5,170 3,878 25,849 36,819

et income/(expenditure)
is s		 tated after charging:
2023
F		 2022f
Auditor's
remuneration
Depreciation —owned assets		 9,250
80,766		 10,300
87,875
Hire of plant and machinery
Operating
leases relating
to		 &equipment
property		 25,980 25,980

2023f 2022
F
Wages
Social
Other		 and salaries
security costs
pension costs		 2,171,575
199,645
81,017		 2,204,177
203,357
85,689
2,452,237 2,493,223


xceeded


F60,000was:		 g
py
p
2023 2022
E
f60,001 - F70,000 1

Improvements Fixtures and Motor Office
to
property		 fittings vehicles
E		 equipmentf Total
E
COST
At 1 August 2022 224,497 7,729 32,341 208,433 473,000
Additions 3,083 2,314 6,360 11,757
At 31 July 2023 227,580 10,043 32,341 214,793 484,757
DEPRECIATION
At 1 August 2022 44,899 7,316 32,341 162,443 246,999
Charge for the year 45,516 1,184 33,583 80,283
At 31 July 2023 90,415 8,500 32,341 196,026 327,282
NET BOOK VALUE
At 31 July 2023 137,165 1,543 18,767 157,475
At 31 July 2022 179,598 413 45,990 226,001

Improvements
to
property		 Improvements
to
property		 Office
equipment		 Fixtures and
fittings
F		 Motor
vehicles
E		 Motor
vehicles
E		 Short
leasehold
F		 Short
leasehold
F		 Totalf
COST
At 1 August 2022
Additions		 258,392
3,083		 208,433
6,360		 68,413
2,314		 32,341 60,000 627,579
11,757
At 31 July 2023 261,475 214,793 70,727 32,341 60,000 639,336
DEPRECIATION
At 1 August 2022
Charge for year		 78,794
45,516		 162,443
33,583		 67,034
1,667		 32,341 60,000 400,612
80,766
At 31 July 2023 124,310 196,026 68,701 32,341 60,000 481,378
NET BOOK VALUE
At 31 July 2023		 137,165 18,767 2,026 157,958
At 31 July 2022 179,598 45,990 1,379 226,967
14. INVESTMENTS
GROUP CHARITY
2023 2022 2023 2022
F E E
CUSU Services Limited
The audited
financial		 statements of CUSU Services Limited for the year ended 31 July 2023 show following results:
2023f 2022
E
Turnover
Cost ofsales		 347,961
(311,468)		 710,754
(638,316)
Gross profit 36,493 72,438
Other income
Administrative
expenses		 (24,487) (69,906)
Operating
Profit		 12,006 2,352
Interest receivable and similar Income
Retained
profit/(loss)		 12,007 2,532
fi/l (268,400) (280,407)

15. STOCKS
GROUP CHARITY
2023 2022f 2023
f		 2022
f
Shop stock 8,290 3,472
16. DEBTORS
GROUP CHARITY
2023
f		 2022
f		 2023
f		 2022
f
Trade debtors 285,061 279,581 215,689 246,979
Other debtors 50,270 61,436 425,862 381,268
335,331 341,017 641,551 628,247
Amounts
falling due after more than one year:
Amounts
owed by group undertakings		 398,505 334,923
17. CREDITORS: AMOUNTS FALLING DUE WITHING ONE YEAR
GROUP CHARITY
2023
f		 2022
f		 2023
f		 2022
Trade creditors 23,107 25,540 18,208 17,692
VAT 9,202 120
Other creditors 22,240 24,528 22,459 18,963
Accruals and deferred income 36,769 46,483 34,030 30,698
91,318 96,671 74,697 67,353
18.PROVISIONS FOR LIABILITIES
2023f 2022f
Provisions 408 412 367,315

Balance
Amount
Amount
Amount		 as at 1 August 2022
released to income earned
released to income earned
deferred
in the year		 from charitable
activities
from trading
activities		 from charitable
activities
from trading
activities		 from charitable
activities
from trading
activities		 from charitable
activities
from trading
activities		 from charitable
activities
from trading
activities		 10,031
(4,571)
(5,460)
2,500
Balance as at 31 July 2023 2,500
20. OPERATING LEASE COMMITMENTS
The following
operating
lease payments		 are committed to be paid:
2023 2022
E F
Expiring:
Within one year
Between one and five years		 25.980
2,165		 25,980
28,145
In more than five years
28,145 54,125

Net move ments
in funds,
inc		 luded
in the abo		 ve are as follows: ve are as follows:
Incoming Resources Transfers Movement
resources expended in funds
E
Unrestricted
funds
General
Pension		 funds
deficit liability		 3,158,741 (3,220,018)
~66241		 (25,144)
25 144		 (86,421)
~41 097
3,158,741 (3,286,259) (127,518)
Restricted
Funds
Clubs and Societies 286,888 (259,629) 27,259
TOTAL FUNDS 3,445,629 (3,545,888) (100,259)
he general
fund represents		 all free reserves and comprises cumulative retained surpluses.
GROUP - Prior Year
Net movement
At 1.8.21 in funds At 31.7.22
Unrestricted
funds
General fund 1,112,231 29,360 1,141,591
Pension deficit liability ~380466 13151 ~367315
731,765 42,511 774,276
Restricted
Funds
Clubs and Societies 192,565 30,831 223,396
TOTAL FUNDS 924,330 73,342 997,672

Unrestricted Restricted Total
Funds
f		 Funds
f		 2022f
INCOMING
AND ENDOWMENTS		 FROM
Charitable
activities
Sports clubs &societies
Democracy 8 representation		 12,940
2,341,962		 243,384 256,324
2,341,962
Volunteering
8 social work		 710,192 710,192
Trading
income		 710,754 710,754
Investment
income		 347 347
Total 3,776,195 243,384 4,019,579
EXPENDITURE ON
Fundraising
trading costs		 708,223 708,223
Charitable
activities
Sports clubs &societies
Democracy
& representation		 431,479
1.118,364		 212,553 644,032
1,118,364
Volunteering
8 social work		 718,977 718,977
Students'
union advice centre		 296,276 296,276
Other central services 288,240 288,240
Community
8 inclusion		 172,125 172,124
Total 3,733,684 212,553 3946237
Net income/(expenditure) 42,511 30,831 73,342
Reconciliation
offunds
Total funds brought
forward		 731,765 192,565 924,330
Total funds carried forward 774,276 223,396 997,672