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||Page|
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|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|
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|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*||
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||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|
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||||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:||
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|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||||
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|||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|
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||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|
##
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|||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|
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|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|
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|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|
##
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|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|
##
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|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|
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|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|
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||||2021|2020|
|---|---|---|---|---|
||||£|£|
|Plant|and|machinery|||
|Within
Within|one
two|year
to five years|1,446|19,484
19,826|
||||1.446|39,310|
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||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|