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|||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|
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##
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|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|
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|||||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|
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|||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|