| Page | |
|---|---|
| Administrative Information | 2- 3 |
| Trustees’ Annual Report | 4-40 |
| Independent Auditors’ Report | 41 -44 |
| Consolidated Statement of Financial Activities | 45 |
| Consolidated Balance Sheet | 46 |
| Charity Balance Sheet | 47 |
| Consolidated Cashtlow Statement | 46 |
| Notes to the Financial Statements | 49-64 |
| Appts. Held |
Zoom Drop- |
Physica I Drop- |
Emails Receive |
|---|---|---|---|
| ins | ins | ci | |
| 1144 | 125 | 203 | 10962 |
| (1222) | (N/A) | (N/A) | (N/A) |
| Enquiry type Student Conduct |
No. Of Appointments held 506 |
No. Of Appointments held 506 |
|
|---|---|---|---|
| Academic Offences | 482 | ||
| Immigration/Visa | query | 89 | |
| Other Academic | Issues | 72 | |
| UniversitylOlA | 34 | ||
| Complaints | |||
| Appeals/Exam Board Options Welfare/Wellbeing |
34 31 |
||
| Housing | 23 | ||
| Fitness to Practice | 15 | ||
| Finance | 10 | ||
| PhD Progress ssues Employment |
3 | ||
| Consumer | 1 | ||
| TOTAL | 1301* |
| Note | Unrestricted | Restricted | Capital | Total | Total | |
|---|---|---|---|---|---|---|
| Income and endowments from: | Income | Income | Grants | 2021 £ |
2020 £ |
|
| Donations and Grants: | ||||||
| - Donations, University Grant, etc. | 2,078,053 | 394,963 | 160,000 | 2,633,016 | 2,232,699 | |
| - Grant of serviced accommodation | 2c) | 427,700 | - | - | 427,700 | 427,700 |
| - CJRS furlough grant income | 715,077 | - | - | 715,077 | 606,519 | |
| Other trading activities: | ||||||
| - Advertising and media | 11,593 | - | - | 11,593 | 27,638 | |
| - Investment income | 146 | |||||
| Charitable activities for students: | ||||||
| - Bars, venues and entertainment | 243,932 | 243,932 | 1,523,169 | |||
| - Shops and vending | 555,040 | 555,040 | 2,236,177 | |||
| - Catering | 53,599 | 53,599 | 701,815 | |||
| - Societies & clubs | 479 | 20,451 | 20,930 | 156,006 | ||
| - Lettings | 319,891 | 319,891 | 349,702 | |||
| Other income | 101,412 | - | - | 101,412 | 29,414 | |
| Total income | _45O6.776 | 415.414 | 160,000 | 5.082.190 | 8.290.985 | |
| Expenditure on: | ||||||
| Costs of raising funds: | ||||||
| - Finance costs | 8,174 | 8,174 | 334 | |||
| Charitable activities for students: | ||||||
| - Representation and campaigns | 1,193,108 | - | 1,193,108 | 931,955 | ||
| - Advice centre | 231,304 | 7,427 | - | 238,731 | 230,677 | |
| - Student activities and volunteering | 138,051 | 196,005 | - | 334,056 | 286,068 | |
| - Clubs and societies | 174,963 | 126,643 | - | 301,606 | 688,005 | |
| - Bars, ventures and entertainments | 948,520 | - | 948,520 | 1,892,565 | ||
| - Catering | 393,889 | - | 393,889 | 953,586 | ||
| - Shops and vending | 1,138,247 | - | 1,128,247 | 2,436,499 | ||
| - Lettings | 442,837 | - | 442,837 | 377,864 | ||
| Total expenditure | 4—7 | 4.659,093 | 330.075 | - | 4.989.168 | 7.797.553 |
| Net (expenditure) I income | (152,317) | 85,339 | 160,000 | 93,022 | 493,432 | |
| Transfers between funds: | ||||||
| Capital grant amortisation | 14 | 42,297 | - | (42,297) | ||
| Net movement in funds | (110,020) | 85,339 | 117,703 | 93,022 | 493,432 | |
| Fund balances brought forward | 125,561 | 301,998 | 172,702 | 600,261 | 106,829 | |
| Fund balances carried forward | 15.541 | 387.337 | 290.405 | 693.283 | 600.261 |
| 2021 | 2020 | ||||||
|---|---|---|---|---|---|---|---|
| £ | £ | £ | £ | ||||
| Notes | |||||||
| Fixed assets | |||||||
| Tangible fixed assets Investments |
8 | 261,566 | 364,914 | ||||
| Current assets | 261,566 | 364,914 | |||||
| Stocks in bars, shops & other outlets Debtors & prepayrrients Cash at bank & in hand |
11 12 |
129,648 133,916 1,586,896 |
207,079 224,676 1,205,407 |
||||
| 1,850,460 | 1,637,162 | ||||||
| Current liabilities | |||||||
| Creditors: Amounts due within one year | 13 | (879,732) | (835,094) | ||||
| Net current assets | 970.728 | 802.068 | |||||
| Net assets excluding pension liability | 1,232,294 | 1,166,982 | |||||
| Defined Benefit pension scheme liability | (539,011) | (566,721) | |||||
| Total net assets | 693.283 | 600.261 | |||||
| Representing Charitable Funds: | |||||||
| Capital Grants Fund | |||||||
| University Grant for Refurbishment | 14 | 290,405 | 172,702 | ||||
| Restricted Income Funds | 15 | 387,337 | 301,998 | ||||
| Unrestricted Income Funds | 16 | 15,541 | 125,561 | ||||
| Total Funds | 17 | - | 600.261 | ||||
| Approved on behalf ofthe University of Essex | Students’ | Union on | ‘)C I ‘r...) ‘)..1 |
a I |
by: |
| CH | ARITY B | ALANCE | SHEET | |||
|---|---|---|---|---|---|---|
| 2021 | 2020 | |||||
| £ | £ | £ | £ | |||
| Notes | ||||||
| Fixed assets | ||||||
| Tangible fixed assets Investments |
8 9 |
261,566 3 |
364.914 | |||
| 261,569 | 364.917 | |||||
| Debtors: Amounts falling due after one | 10 | |||||
| year | 47,500 | |||||
| Current assets | ||||||
| Stocks in bars, shops & other outlets Debtors & prepayments Cash at bank & in hand |
11 12 |
129,648 225,151 1,343,882 |
207,079 385,579 791,453 |
|||
| Current liabilities | 1,698,681 | 1,384,111 | ||||
| Creditors: Amounts due within one year | 13 | (750713) | (688,730) | |||
| Net current assets | 947,968 | 695,381 | ||||
| Net assets excluding pension scheme liability |
1,257,037 | 1.060,298 | ||||
| Defined Benefit pension scheme liability | (539,011) | (566,721) | ||||
| Total net assets | 718.026 | 493.577 | ||||
| Representing Charitable Funds: | ||||||
| Capital Grants Fund | ||||||
| University Grant for Refurbishment | 14 | 290,405 | 172,702 | |||
| Restricted Income Funds | 15 | 387,337 | 301.998 | |||
| Unrestricted Income Funds | 16 | 40,284 | 18,877 | |||
| Total Funds | 17 | 1iB.Z |
| 2021 | 2020 | ||
|---|---|---|---|
| Cash flows from operating activities: | £ | £ | |
| Net incoming/(outgoing) resources Interest receivable Interest payable Capital grant movement Depreciation Decrease! (increase) in stock Decrease! (increase) in debtors (Decrease)! increase in pension liability lncreasef(decrease) in creditors |
93,022 - 8,174 (160,000) 126,101 77,431 90,760 (27,710) 45,297 |
493,432 (146) 334 (4,000) 133,686 (722) (5.856) (481,006) (261,899) |
|
| Net cash provided by! (used in) operating activities | 253,075 | (126,177) | |
| Cash flows from investing activities | |||
| Interest receivable | 146 | ||
| Interest payable Capital grants received Purchase of tangible fixed assets |
(8,174) 160,000 (22,753) |
- 4,000 (183,639) |
|
| Net cash provided byl (used in) investing activities | 129,073 | (179,493) | |
| Cash flows from financing activities | |||
| Finance leases repayments Finance lease interest |
(659) | (7,623) (334) |
|
| Net cash (used in) financing activities | (659) | (7,957) | |
| Change in cash and cash equivalents in the year Cash and cash equivalents at the beginning of the year |
381,489 j,205,407 |
(313,627) 1,519,034 |
|
| Total cash and cash equivalents at the end of the year | £ 1,205.407 | ||
| Analysis of cash and cash equivalents; | |||
| 2021 | 2020 | ||
| £ | £ | ||
| Cash at Bank | 1,205,407 | ||
| Analysis of Net Funds | |||
| At the Start | Cashilows | At the end | |
| of the year | of the year | ||
| Cash | 1,205.407 | 381,489 | 1,586,896 |
| Finance leases | (659) | 659 | - |
| 1,204,748 | 382.148 | 1.586.896 |
| Cost of | Staff | Rent & | |||
|---|---|---|---|---|---|
| Sales | Costs | Premises | Other Costs | Total | |
| £ | £ | £ | £ | £ | |
| Finance costs | - | - | - | 8174 | 8,174 |
| Charitable activities | |||||
| - Representation and Campaigns |
- | 965,388 | 138,766 | 88,954 | 13193,108 |
| - Advice centre - Student activities and Vounteering |
- - |
188.118 83139 |
26,902 36,405 |
16,284 18,507 |
231,304 138,051 |
| - Clubs and societies - Bars) venues and Entertainments |
- 84.193 |
168,730 569,065 |
- 91,400 |
6,233 203,862 |
174,963 948,520 |
| - Catering - Shops and vending - Lettings Restricted Funds |
3L708 384,087 - |
246,986 521,262 316,188 114,856 |
36,940 79,399 45,503 - |
72,255 143,499 81,146 215,219 |
393,889 1,128,247 442,837 330,075 |
| Total costs | 505.988 | 3.173.732 | 455.315 | 4.989.168 | |
| Prior Year - 2020 |
Cost ofSales | Staff | Rent & | ||
| Costs | Premises | Other Costs | Total | ||
| £ | £ | £ | £ | £ | |
| Finance costs | - | - | - | 334 | 334 |
| Charitable activities | |||||
| - Representation and | |||||
| Campaigns | - | 723158 | 93,384 | 110,112 | 926,654 |
| -Advice centre | - | 181.948 | 22,789 | 19,044 | 223,781 |
| - Student activities and | - | ||||
| Volunteering | 131,408 | 38,672 | 66,642 | 236,722 | |
| - Clubs and societies | - | 320,195 | 21,205 | 25,109 | 366,509 |
| - Bars, venues and | |||||
| Entertainments | 597,481 | 826,975 | 118,848 | 334,784 | 1,878,088 |
| - Catering | 265,791 | 511,991 | 66,137 | 108,660 | 95Z579 |
| -Shops and vending | 1,533,378 | 652,979 | 90,444 | 158,376 | Z435,177 |
| - Lettings | - | 270,010 | 33,876 | 73,425 | 377,311 |
| Restricted Funds | 87,109 | - | 313,289 | 400,398 | |
| Total costs | 2,396,650 | 3.705.773 | 485,355 | 1.209,775 | 7.797.553 |
| Rent & | ||||
|---|---|---|---|---|
| Staff | Premises | Other | Total | |
| Charitable activities | £ | £ | £ | £ |
| - Representation and campaigns - Advice centre - Student activities and volunteering - Clubs and societies |
316898 61,436 83,139 |
138766 26,902 36,405 |
70542 13,676 18,507 |
526206 102,014 138,051 |
| - Bars, ventures and entertainments - Catering - Shops and vending - Lettings |
262,232 108,063 225,774 134.354 |
88,813 36,599 76,466 45,503 |
86,447 35,624 74,428 44,292 |
437,492 180,286 376,668 224,149 |
| Totals | 1.191.896 | 449.454 | 343.514 | 1.984.866 |
| Prior Year - 2020 |
Rent & | |||
| Staff | Premises | Other | Total | |
| £ | £ | £ | £ | |
| Charitable activities | ||||
| - Representation and campaigns -Advice centre - Student activities and volunteering - Clubs and societies -Bars, ventures and entertainments - Catering |
136.996 33.083 57,599 31,583 277,218 148,673 |
91,980 22,213 38,672 21,205 114,977 61,662 |
65,096 15,720 27,369 15,007 97,676 52,383 |
294,072 71,016 123,640 67,795 489,871 262,718 |
| -Shops and vending | 195,217 | 80,966 | 68,783 | 344,966 |
| - Lettings | 81,678 | 33,876 | 28,779 | 144,333 |
| Totals | 962,047 | 465,551 | -- 370,813 | 1,798411 |
| Staff Costs | ||
|---|---|---|
| 2021 | 2020 | |
| £ | £ | |
| Wages and salaries | 2,689,323 | 3,617395 |
| Social security | 225799 | 259836 |
| Pension costs | 256,261 | (196,308) |
| Other staff costs | 2347 | 24,850 |
| _34113232 | £3705773 |
| The number of employees whose emoluments exceeded £60,000 was: | ||
|---|---|---|
| 2021 | 2020 | |
| No. | No, | |
| £60,000 -£70,000 | 3 | 3 |
| £70,000 -£80,000 | 1 | 1 |
| £90,000 -£100,000 | ||
| The average staffing was as follows: | ||
| Full time | 100 | 114 |
| Students—term time only | 25 | 189 |
| Students — out of term |
9 | 22 |
| The staffing by FTE was as follows: | ||
| Full time | 90 | 100 |
| Students — term time only |
10 | 69 |
| 8. | Tangible Fi | xed Assets — Group and Charity |
||||
|---|---|---|---|---|---|---|
| Fixtures, | ||||||
| Building | fittings and | Total | ||||
| Refurbishment | equipment | 2020 | ||||
| Cost | £ | £ | £ | |||
| At 1 August Additions |
2020 | 891934 - |
553785 22753 |
1445719 22,753 |
||
| At 31 July 2021 | 891.934 | 576,538 | L468.472 | |||
| Depreciation | ||||||
| All August 2020 Charge for the year |
748,337 46,396 |
332,468 79.705 |
1080,805 126.101 |
|||
| At 31 July 2021 | 794.733 | - | 412.113 | 1.206,906 | ||
| Net Book Values | ||||||
| - at 31 July | 2021 | 97.201 | 164.365 | 261.566 | ||
| - at 31 July | 2020 | 14,k9j | 221,317 | 364.914 | ||
| 9. | Investments | — Charity only | ||||
| 2021 | 2020 | |||||
| £ | £ | |||||
| At Cost | ||||||
| Investment | in UESU Limited | 1 | 1 | |||
| Investment | in Essex Student Lets Limited | 1 | 1 | |||
| Investment | in SU Homes Limited | I | ||||
| 3 | _____3 |
| nvestments (continued) | |||||
|---|---|---|---|---|---|
| UESU Ltd | Essex Student | Lets Ltd | |||
| Reg No 07321517 | Reg No | 07413547 | |||
| 2021 | 2020 | 2021 | 2020 | ||
| Trading Subsidiaries | £ | £ | £ | £ | |
| Turnover Cost of sales |
11,270 - |
856,538 (303,932) |
319,891 - |
349,702 - |
|
| Gross profit | 11,270 | 552.606 | 319,891 | 349,702 | |
| Administrative expenses | (91.2151 | (507,645) | (264.6871 | (287,978) | |
| Net (loss)/ profit | t79.945 | 44,961 | 55.203 | 61,724 | |
| Retained earnings | £ | 44.961 | £ | 61,724 |
| 13. | Creditors: Amounts due within one year |
2021 | 2Q20 | |||||
|---|---|---|---|---|---|---|---|---|
| Group £ |
Charity £ |
Group £ |
Charity £ |
|||||
| HP and finance leases Trade creditors Social security & other taxes Other creditors Accruals and deferred income Intercompany creditors |
529,729 180,186 145,879 23,938 |
529,691 185,841 11,482 23,699 |
659 473,894 170,620 158,521 31,400 |
659 473,874 177,969 5,120 31,108 |
||||
| =Z1z | 750.713 | 835.094 | 688730 | |||||
| 14. | Capital Grants Fund | 2021 | 2020 | |||||
| £ | £ | |||||||
| At 1 August 2020 Received in year Amortisation |
172,702 160,000 (42,297) |
223,573 4,000 (54,871) |
||||||
| Balance at 31 July 2021 | £ | 290.405 | £ | - 172,702 |
| 15. | Restricted Funds —2021 | Brought | Expend- | Carried | ||
|---|---|---|---|---|---|---|
| Forward | Income | iture | Transfers | Forward | ||
| £ | £ | £ | £ | £ | ||
| Funds: | ||||||
| Sports & Society Equipment Reserve |
29,779 | - | (802) | - | 28,977 | |
| Sports & Society Restricted Funds |
224,190 | 20,451 | (8,671) | - | 235,970 | |
| Essex Sport Board | - | 151,200 | (117,170) | - | 34030 | |
| Sundry Other Funding Hardship Fund Volunteering Project Fund Community Activities & |
20,858 27,171 - |
1,963 - 61,800 |
(386) (7,427) (56,296) |
- - - |
22:435 19,744 5,504 |
|
| Events Fund | - | 180.000 | (139,323) | - | 40,677 | |
| 301.998 | =4j4j4 | 1330.075) | - | 387.337 | ||
| Restricted Funds -2020 | Brought | Expend- | Carried | |||
| Forward | Income | iture | Transfers | Forward | ||
| £ | £ | £ | £ | £ | ||
| Funds: | ||||||
| Sports & Society Equipment Reserve |
29,779 | - | - | - | 29,779 | |
| Sports & Society Restricted | 186,201 | 154,758 | (116,769) | - | 224,190 | |
| Funds | ||||||
| Essex Sport Board | - | 198,382 | (19&382) | - | - | |
| Sundr’j Other Funding | 19,604 | 1,382 | (128) | - | 20,858 | |
| Hardship Fund | 3a.703 | - | (6,532) | - | 27,171 | |
| Volunteering Project Fund | 53 | 48534 | (48,587) | - | - | |
| Community Activities & | ||||||
| Events Fund | - | 30.000 | (30.000) | |||
| 269.340 | 423.Q | (400.398) | 301.998 |
| 16. | Unrestricted Funds | |||||||
|---|---|---|---|---|---|---|---|---|
| At | 1 August 2020 |
Income | Expenditure | Transfers | At 31 July 2021 |
|||
| £ | £ | £ | £ | £ | ||||
| Charity | 18,877 | 4,175,615 | (4,196,505) | 42,297 | 40,284 | |||
| Subsidiary funds | 106,684 | 331,161 | (462,588) | (24,743) | ||||
| 4.659.093 | 42.297 | 15.541 | ||||||
| Prioryear | AtlAugust 2019 |
Income | Expenditure | Transfers | At31 July 2020 |
|||
| £ | £ | £ | £ | £ | ||||
| Charity | (566,901) | 6,647,690 | (6,116,783) | 54,871 | 18,877 | |||
| Subsidiary funds | 180,817 | 1,206.239 | (1,280,372) | 106,684 | ||||
| 7,833S29 | JZW555 | 54871 | 125â61 | |||||
| 17. | Net Assets of the Funds | of the Charity | and Group | |||||
| As at 31 July 2021 | Fixed Assets | Net Current Assets |
Long term liabilities |
Total | ||||
| £ | £ | £ | £ | |||||
| Capital Grant Fund | 290,405 | - | 290,405 | |||||
| Restricted Income Funds Unrestricted funds |
- (23,836) |
387,337 608,131 |
- (539,011) |
387,337 40,284 |
||||
| Charity | 261569 | 995,468 | (539,011) | 718,026 | ||||
| Subsidiary Reserves | (3) | (24,740) | (24,743) | |||||
| Group | 970.728 | (539.011 | 693.283 | |||||
| Net Current | Long term | |||||||
| As at 31 July 2020 | FixedAssets | Assets | liabilities | Total | ||||
| £ | £ | £ | £ | |||||
| Capital Grant Fund | 172,702 | - | - | 172,702 | ||||
| Restricted Income Funds | 301,998 | - | 301,998 | |||||
| Unrestricted funds | 192,215 | 393.383 | (566.721) | 18.877 | ||||
| Charity | 364,917 | 695,381 | (566,721) | 493,577 | ||||
| Subsidiary Reserves | (3) | 106,687 | 106.684 | |||||
| Group | 802.068 | =JQJZ1 | _Qoo261 |
| 2021 | 2020 | |||
|---|---|---|---|---|
| £ | £ | |||
| Plant | and | machinery | ||
| Within Within |
one two |
year to five years |
1,446 | 19,484 19,826 |
| 1.446 | 39,310 |
| Unrestricted | Restricted | Capital | Total | |
|---|---|---|---|---|
| Income and endowments from: | Income | Income | Grants | 2020 £ |
| Donations and Grants: | ||||
| - Donations, University Grant! etc. | 1,950,400 | 278,299 | 4,000 | 2,232,699 |
| - Grantofserviced accommodation | 427,700 | - | - | 427,700 |
| - CJRS furlough grant income | 606,519 | - | - | 606,519 |
| Other trading activities: | ||||
| - Advertising and media | 27.638 | - | - | 27,638 |
| - Investment income | 146 | - | - | 146 |
| Charitable activities forstudents: | ||||
| - Bars, venues and entertainment | 1,523,169 | - | - | 1,523,169 |
| - Shops and vending | 2,236,177 | - | - | 2,236,177 |
| - Catering | 701,815 | - | - | 701,815 |
| - Societies & clubs | 1,249 | 154,757 | - | 156.006 |
| Lettings | 349;702 | - | - | 349.702 |
| Otherincome | 29,414 | - | - | 29,414 |
| Total income | 7,853,929 | 433,056 | 4,000 | 8.290,985 |
| Expenditure on: | ||||
| Costs ofraising funds: | ||||
| - Finance costs | 334 | - | - | 334 |
| Charitable activities forstudents: | ||||
| - Representation and campaigns | 926,654 | 5,301 | - | 931,955 |
| - Advice centre | 223,781 | 6,896 | - | 230,676 |
| - Student activities and volunteering | 236.722 | 49,346 | - | 286.067 |
| - Clubs and societies | 366,509 | 321,496 | - | 688.005 |
| - Bars, ventures and entertainments | 1,878,088 | 14,477 | - | l,89Z565 |
| - Catering | 952,579 | 1,007 | - | 953,586 |
| - Shops and vending | 2,435,177 | 1,322 | - | Z436.499 |
| - Lettings | 377.311 | 553 | - | 377,864 |
| Total expenditure | 7.3&5 | 400.398 | - | 7.79753 |
| Net (expenditure) /income | 456,774 | 32,658 | 4,000 | 493.432 |
| Transfers between funds: | ||||
| Capital grant amortisation | 54,871 | (54,871) | ||
| Clubs and societies allocation | ||||
| Netmovement in funds | 511,645 | 32,658 | (50,871) | 493,432 |
| Fund balances brought forward | 269,340 | 223,573 | I06,2 | |
| Fund balances carried forward | (125.5fii | 301.998 | 172.702 | 600,261 |