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|CONTENTS||PAGE|
|---|---|---|
|Trustee Board and Union Information|||
|Trustees'<br>Report|||
|Trustees Responsibilities||15|
|Independent<br>Auditors'|Report to the Members|16|
|Statement of Financial|Activities|20|
|Balance Sheet||21|
|Cash Flow Statement||22|
|Notes to the Financial|Statements|23|





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|t meetings<br>is set out|below.|||||
|---|---|---|---|---|---|
|Board Members|Trustee|Category||Meetings<br>attended|(90|
|||||Attendance)||
|Zuleikha<br>Chikh|Officer|- Union President||4(of4)(100%)||
|Sophie O' Neill|Officer|- Vice President|Activities|4(of4)(100%)||
|Steph Lomas|Officer|—Vice President|Education|3 (of3)(100%)||
|Megan Rea|Officer|- Vice President|Welfare|3(of4)(75%)||
|Emma Sims|External|||2 (of4) (5090)||
|Peter Hyett|External|||4(of4)(100%)||
|Laura Davies|External|||4(of4) (10090)||
|Jill Wells|External|||3(of4) (75%)||
|Dean Kamitsis|Student|||4(of4) (100'Yo)||
|Beverly Simpson|Student|||4(of4) (100%)||
|Janine Machin|Student|||3(of4) (75%)||
|Anna Shabunina|Student|||1(of2) (5090)||





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||||2021||2020|
|---|---|---|---|---|---|
|||Restricted|Unrestricted|Total|Total|
||Note|E|||E|
|INCOME FRQ)/I:||||||
|Voluntary<br>income|||1,287,839|1,287,839|1,188,736|
|Grants and other funding|||73,213|73,213|129,738|
|Charitable<br>activities||600,115|207,560|807.675|1,907,686|
|Other trading<br>activities|||1,230|1,230|3,442|
|Investments|||36|36|1,165|
|Income from Operations||600,115|1,569,879|2,169,994|3,230,767|
|EXPENOITURE ON:||||||
|Charitable<br>activities:||||||
|Nlemiiership<br>services|7-9|279,449|1,028,359|1,307,808|1,623,476|
|Primary purpose<br>trading|7-9|312,855|520,363|833.218|1,533,397|
|Pension<br>Discount<br>Unvrinding<br>Cost|11/<br>21|{22,976)||(22,976)|(415,440)|
|Exceptional<br>Expenditure|||(33,900)|(33,900)|(30,294)|
|Expenditure<br>from Operations||592,304|1,548,722|2,141,026|3,156,873|
|Total Expenditure||(615,280)|(1,582.622)|(2,197,902)|(3,780,524)|
|Net Operating<br>Result for the<br>year - Surplus/(Deficit)||7,811|21,157|28,968|73,894|
|Net Result for the year<br>Surplus/(Deficit)||(15,165)|{12,743)|{27,908)|(371,840)|
|Total funds brought<br>forward||(1,489,448)|260,350|(1,229.098)|(857,258)|
|Reserves Transfer|20|49,152|(49,152)|||
|Total funds carried forward||(1,455,461)|198.456|(1,257,007)|(1,229,098)|





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|||||||31/07/2021|31/07/2021|31/07/2020|
|---|---|---|---|---|---|---|---|---|
||||||Note|6|6|6<br>6|
|FIXEDASSETS|||||||||
|Tangible lixed|assets||||13||41,632|80,524|
|Investments|||||14||1|1|
||||||||41,632|80,525|
|CURRENT ASSETS|||||||||
|Stock|||||15|26,220||50,569|
|Debtors|||||16|101,769||103,963|
|Cash at bank|and<br>in hand|||||243,452|||
|||||||371,441||400,038|
|CREDITORS:|||||||||
|Amounts<br>due within one year|||||17|(209,913)||(185,847)|
|NET CURRENT ASSETS|||||||161,528|9|
|Total assets less current||habilities|||||203,160|r,<br>6|
|CREDITORS:|amounts|due|aher|more than one|||||
|year|||||18||1,460,166|1,523,488|
|NET ASSETS|||||23||1,257,005|1,228,772|
|FUNDS|||||||||
|Restricted funds|||||||||
||Pension|Deficit Reserve|||||(1,546,464)|(1,584,552)|
||Students'|Societies 8 Club Funds|||||91,002|95,104|
||Total Restricted Funds||||||1,455,462|1,489448|
|Unrestricted<br>funds|||||||||
||General|Funds|||||157,904|82,037|
||Designated||Funds||||40,552|178,639|
||Total Unrestricted|||Funds|||198,456|260,676|
|TOTAL FUNDS|||||||1,257,005|1,228,772|




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|||||||2021|2020|
|---|---|---|---|---|---|---|---|
|Net cash|(oufflow)/inflow<br>from operating|||activities|27|66,831|44,581|
|tlti|I|tt<br>ttt||||||
|Payments||to acquire tangible fixed assets||||(7,855)|(30,413)|
|Net cash||flow fmminvesting<br>activities||||(7,855)|(30,413)|
|Financin||activities||||||
|Repayment||of Pension<br>Deficit||||||
|Repayment||of bank loans||||(61,065)||
|Interest received||||||36|1,165|
|Net cash||flow from/ (usecl|in) financing|activities||(61,029)|1,165|
|Increase/(Decrease)<br>in cash|||and cash equivalents|||(2,053)|15,333|
|Cash and||cash equivalents|at start ofyear|||245,506|230,173|
|Cash and||cash equivalents|at end ofyear|||243,453|245,506|





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|3.|VOLUNTARY INCOME||||
|---|---|---|---|---|
|||Restricted|Unrestricted|Total|
|||||2021|
||||8|8|
||Grant Funding||1,287,839|1,287,839|
||Zero Waste||||
||Hate Crime project||||
||Projects||||
||||1,287839|1,287,839|
|||Restricted|Unrestricted|Total|
|||||2020|
|||||8|
||Grant Funding||1,181,710|1,181,710|
||Zero Waste|3,871||3,871|
||Hate Crime project|2,000||2,000|
||Projects|1,155||1,155|
|||7,026|1,181,710|1,181,736|
|4.|GRANTS AND OTHER FUNDS||||
|||Restricted|Unrestricted|Total|
|||||2021|
||||8||
||Job Retention Scheme claims||73,213|73,213|
||||73,213|73,213|
|||Restricted|Unrestricted|Total|
|||||2020|
|||||8|
||Job Retention Scheme claims||129,738|129,738|
||||129,738|129,738|





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|||Restricted|Unrestricted|Total|
|---|---|---|---|---|
|||||2021|
|||6|6|6|
|Voice||102,583|12,500|115,083|
|Life||73.398|1,951|75,348|
|Community||111,279|43,883|155,162|
|Membership<br>Services||287,260|58,333|345,593|
|Primary Purpose Trading Activities||312,855|149,227|462,082|
|Total||600,115|207,560|807,675|
|Charitable<br>activities|||||
|Direct Income from charitable<br>Benefit in kind—|activities|37,301||37,301|
|Accommodation<br>&Service||562,814||562,814|
|Clubs and Societies - Income|||207,560|207,560|
|||600,115|207,560|807675|
|||Restricted|Unrestricted|Total|
|||||2020|
|||6|6|6|
|Voice||96,062|10,903|106,965|
|Life||80,932|5,847|86,779|
|Community||186,162|80050|266,212|
|Membership<br>Services||363,156|96,800|459,956|
|Primary Purpose Trading Activities||294,133|1,153,596|1,447,730|
|Total||657,289|1,250,397|1 907,686|
|Charitable<br>activities|||||
|Direct Income from charitable<br>Benefit in kind—|activities|106,293||106,293|
|Accommodation<br>&Service||550,996||550,996|
|Clubs and Societies - Income|||1,250 397|1,250,397|
|||657,289|1,250,397|1,907,686|





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|6.|OTHER TRADING INCOME|OTHER TRADING INCOME||||||
|---|---|---|---|---|---|---|---|
||||Restricted||Unrestricted||Total|
||||||||2021|
|||||8||8|6|
||Marketing||||1,230||1,230|
||||||1230||1230|
||||Restricted||Unrestricted||Total|
||||||||2020|
|||||8||8||
||Marketing||||3,442||3,442|
||||||3,442||3,442|
|7.|CHARITABLE|ACTIVITIES||||||
||Restricted and Unrestricted<br>Expenditure||by Theme|||||
||||Restricted|Unrestricted|||Total|
||||||||2021|
||||||||8|
||Membership|Services||||||
||Voice||102,583||656,506||759,089|
||Life||73,398||115,513||188,911|
||Community||103,468<br>279,449||256,340<br>1,028,359|359,808<br>1,307,808||
||Primary Purpose Trading Activities||312,855<br>592,304||520,363<br>1,548,722|833,218<br>2,141,026||
||Direct Costs|Plus Benefit in Kind||||||
||Direct expenditure<br>Clubs and Societies - Expenditure<br>Benefit in Kind —Accom & Services||29,490<br>562,814||1,548,722|1,548,722<br>29,940<br>562,814||
||||592,304||1,548,722|2,141,026||
||||Restricted|Unrestricted|||Total|
||||||||2020|
||||||||E|
||Membership|Services||||||
||Voice||95,982||631,346||727,328|
||Life||80,990||144,699||225,689|
||Community||183,087||314,025||497,112|
||Projects||7,147<br>367,206||1,090,069|1|7,147<br> 457,276|
||Primary Purpose Trading Activities||294,064<br>661,270||1,405,443<br>2,495,513|1,699,507<br>3,156,783||





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|Direct 8 Sup|port Expenditure<br>by Them|e|||
|---|---|---|---|---|
|||Activities|||
|||undertaken|Support||
|||directly|costs|Total|
|||||2021f|
|Membership|Services||||
|Voice||699,703|59,386|795,089|
|Life||146,421|42,490|188,911|
|Community||316,982|42,826|359,808|
|||1,163,106|144,702|1,307,808|
|Primary Purpose Trading Activities||652,105|181,113|833,218|
|Total||1,815,211|325,815|2,141,026|



||||Activities|||
|---|---|---|---|---|---|
||||undertaken|Support||
||||directly|costs|Total|
||||||2020|
||||||6|
|Membership||Services||||
|Voice|||666,955|60,373|727,328|
|Life|||174,824|50,865|225,689|
|Community|||446,916|50,196|497,112|
|projects|||7,147||7,147|
||||1,295,841|161,435|1,457,276|
|Primary|Purpose Trading Activities||1,514,647|184,860|1,699,507|
|Total|||2,810,488|346,295|3,156,783|





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|Y|EAR ENDED 31JU|LY|2021|||||
|---|---|---|---|---|---|---|---|
|9.|Charitable<br>activities|||||||
||Charitable<br>expenditure||by cost|type||||
||||||Primary|||
||||||Purpose|Central||
|||||Membership|Trading|Support|Total|
|||||Services|Activities|Costs|2021|
|||||E|||5|
||Good for Resale|||28,976|74,233||103,208|
||Salaries &Wages|||708,999|212,295|194,137|1,115,431|
||Training,<br>Development|& Travel||7,654|405|8,706|16,765|
||Other Employment<br>Costs|||1,194|2,290|22,456|25,939|
||NUS Affiliation|||30,774|||30,774|
||Clubs 8 Societies —Transport,<br>Facilities & Affiliation|||28,181|123|4,415|32,719|
||Insurance|||5,283|992|23,665|29,940|
||Buildings —Repairs and|Cleaning|||1,783|3231|5,014|
||Essential<br>Materials|||580|4,566|12|5,158|
||Equipment<br>and Software|||20,258|12,355|20,861|53,475|
||Minibus<br>Expenditure|||9,780|||9,780|
||Advertising<br>and Marketing|||8,652|1,235|1,000|10,887|
||Finance Expenses|||875|4,097|943|5,915|
||Professional<br>Expenses|||13,293|4,325|21,000|38,618|
||Administration<br>Charges|||11,061|1,252|6,139|18,451|
||Depreciation<br>-Refurbishment|||9,276|10,390||19,666|
||Depreciation<br>- Equipment|||6,322|18,294|2,367|26,938|
||Benefit in kind -Accommodation|||||||
||and Services|||242,460|303,469|16,884|562,814|
||Restricted<br>Club and Society||Costs|29,490|||29,490|
|||||1,163,106|652,105|325,815|2,141,026|
||Central Support Cost Allocation|||144,702|181113|325,815||
||Total|||1,307,808|833,218||2,141,026|





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||||Primary|||
|---|---|---|---|---|---|
||||Purpose|Central||
|||Membership<br>Services|Trading<br>Activities|Support<br>Costs|Total<br>2020|
|||f||6|6|
|Good for Resale||187,757|480,277||668,034|
|Salaries &Wages||731,614|440,604|195,457|1,367,675|
|Training,<br>Development|&Travel|12,235|1,002|7,125|20,362|
|Other Employment<br>Costs||1,245|2,751|29,777|33,773|
|NUS Affiliation<br>Clubs &Societies —Transport,||43,629|||43,629|
|Facilities &Affiliation||52,069|2,846||54,915|
|Insurance||7,117||25,817|32,934|
|Buildings —Repairs and|Cleaning|170|3,239|8,422|11,831|
|Essential<br>Materials||3,348|24,091||27,439|
|Equipment<br>and Software||4,460|27,163|12,713|44,336|
|Minibus<br>Expenditure||17,233|||17,233|
|Advertising<br>and Marketing||442|2,991|950|4,383|
|Finance Expenses||2,306|24,743|4,538|31,587|
|Professional<br>Expenses||12,890|12,818|12,848|38,556|
|Administration<br>Charges||19,794|3,071|23,900|46,765|
|Depreciation<br>- Refurbishment|||12,781||12,781|
|Depreciation<br>- Equipment<br>Benefit in kind - Accommodation||14,151|25,430|6,520|46,101|
|and Services||248,364|284,404|18,228|550,996|
|Restricted<br>Club and Society Costs||103,127|||103,127|
|||1,461,951|1,348,211|346,295|3,156,457|
|Central Support Cost Allocation||161,435|184,860|346,295||
|Total||1,623,386|1,533,071||3,156,457|





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|OVERNANCE COST|S||||
|---|---|---|---|---|
||||Total|Total|
||||2021|2020|
||||f|E|
|Audit|||6,000|7,800|
|Insurance|||1,850|1,333|
|Board away day<br>Board refreshments|||105|56|
|Travel Expenses||||137<br>250|
|Leaving<br>gift<br>NCVO —Consultancy<br>Civil Subscription|Fees —Governance|Review|4,875<br>550|550|
||||13,380|10,126|



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||||Restricted|Unrestricted|Total|
|---|---|---|---|---|---|
||||||2021|
||||6|E|E|
|Redundancies||and exiting costs||28,760|28,760|
|Working|from|Home Equipment||5,140|5,140|
|SUSS Pension<br>Unwinding||Deficit Discount|22,976<br>22,976|33,900|22,976<br>56,876|



|||Restricted|Unrestricted|Total|
|---|---|---|---|---|
|||||2020f|
|Redundancies|and exiting costs||9,394|9,394|
|Stock write-off|||14,556|14,555|
|Holiday accrued during<br>Furlough<br>Working from Home Equipment<br>SUSS Pension<br>Deficit Revaluation||415,440<br>415,440|4,195<br>2,146<br>30,294|4,198<br>2,146<br>415,440<br>445,734|





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|TAFF C|OSTS AND NUMBERS|||
|---|---|---|---|
|||Total|Total|
|||2021|2020|
|||E||
|Wages|and salaries|945,914|1,189,393|
|National|insurance|79,568|83,111|
|Pension|costs|89,949|95,180|
|||1,115,431|1,367,674|



||2021|2020|
|---|---|---|
||No.|No.|
|Full time staff|40|45|
|Student staff|15|62|
||55|107|





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||Building|Motor|Fixtures &||
|---|---|---|---|---|
||costs|Vehicles|Equipment|Total|
||f||6|f|
|Cost|||||
|As at 1 August 2020|1054667|10,911|565,400|1,630,978|
|Additions|||7,856|7,856|
|Disposals|||23,380|23,380|
|As at 31 July 2020|1,054,667|10,911|549,876|1,615,454|
|Accumulated<br>depreciation|||||
|As at 1 August 2020|1,021,477|10,909|518,070|1,550,450|
|Charge for the year|19,667||27,077|46,745|
|On Disposals|||23,373|23,374|
|As at 31 July 2021|1,041,139|10,909|521,774|1,573,822|
|Net book value|||||
|31 July 2021|13,528||28,102|41,632|
|31 July 2020|33,194||47,330|80,524|





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|||||2021|2020|
|---|---|---|---|---|---|
||||||E|
|Trade creditors||||50,105|52,003|
|Social security and|other taxes|||16,724|21,488|
|Other creditors||||36,594|37,073|
|Accruals and deferred||income||20,192|14,218|
|Pension<br>liability||||86,298|61,065|
|||||209,913|185,847|
|||||2021|2020|
|Deferred Income||||||
|Deferred<br>income at|1 August||||44,487|
|Resources deferred|during||the year|||
|Amounts<br>released from previous years|||||44,487|
|Deferred income at|31 July|||||
|REDITORS: Amounts||falling due after more than one year||||
|||||2021|2020|
|||||E|5|
|Pension<br>liability||||1,460,166|1,523,488|
|||||1,460,166|1,523,488|
|Repayment<br>due as|follows:|||||
|Due 1-2 Years||||177,516|147,363|
|Due 2-5Years||||301,940|287,563|
|Due 5+Years||||000,210|1,008 002|
|||||1,460,166|1,523,488|



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||||||2021|2020f|
|---|---|---|---|---|---|---|
|Trade debtors (including||University)|||36,831|28,169|
|Accrued|income||||4,894|17,269|
|Other debtors|||||13,981|14,982|
||||||55,706|60,420|
|Financial<br>liabilities measured||at|amortised|cost:|||
||||||2021|2020|
||||||f|F|
|Trade creditors|||||50,105|52,003|
|Accruals|||||20,192|14,218|
||||||1,530,462|1,589,709|
|Financial|liabilities measured||at present|value|||
|Pension|deficit||||1,460,166|1,523,488|
||||||1,460,166|1,523,488|





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|20. RESERVES|||||||
|---|---|---|---|---|---|---|
|||At 1<br>August<br>2020|Incoming<br>resources|Resources<br>expended|Trarisf et's|At 31July<br>2021|
||||||E|E|
|Restricted Funds|||||||
|Pension Deficit Fund<br>Benefit in kind—<br>Accommodation<br>and|Service|(1,584,553)|562,814|(22,976)<br>(562,814)|61,065|(1,546,464)|
|Clubs and Societies||95,104|37,301|29,490|11,913|91,002|
|Total Restricted Funds||1,489,449|600,115|592,304|49,152|1,455,462|
|Unrestricted<br>Funds|||||||
|Accumulated<br>General|Fund|81,712|1,569,879|1,582,623|88,935|157,903|
|Total General Funds||81,712|1,569,879|(1,582,623)|88,935|157,903|
|Designated<br>funds|||||||
|Building designated<br>reserve||150,000|||(150,000)||
|Film and arts designated|||||||
|fund||5,113||||5,113|
|Sport Ball funds||4,717||||4,717|
|Societies &clubs bidding|||||||
|reserve||16,125|||7,052|23,177|
|Societies &clubs archived||2,684|||4,261|6,945|
|Total Designated<br>Funds||178,639|||(138,027)|40,552|
|Total Unrestricted<br>Funds||260,351|1,569,879|(1,582,623)|(49,152)|198,456|
|Total Funds||(1,229,098)|2,169,994|(2,174,927)||1,257,004|





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|2020 Reserves Movement|2020 Reserves Movement||||||
|---|---|---|---|---|---|---|
|||At 1<br>August<br>2019|Incoming<br>resources|Resources<br>expended|Transfers|At 31July<br>2020|
|Restricted<br>Funds|||||||
|Pension<br>Deficit Fund||(1,169,114)||(415,438)||(1,584,552)|
|Benefit in kind—<br>Accommodation<br>and|Service||550,996|(550,996)|||
|Clubs and Societies||110,748|101,293|(103,128)|(18,809)|90,104|
|Projects|||7,026|(7,026)|||
|Film Society Fund||5,113|||5,113||
|Total Restricted<br>Funds||1,053,253|664,315|1,076,588|23,922|1,489,448|
|Unrestricted<br>Funds|||||||
|Accumulated<br>General|Fund|41,278|2,566,452|2,525,018||81,712|
|Total General Funds||41,278|2,566,452|(2,525,018)||81,712|
|Designated<br>funds|||||||
|Building designated<br>reserve||150,000||||150,000|
|Film and arts designated|||||||
|fund|||||5,113|5,113|
|Sport Ball funds||4,717||||4,717|
|Societies bidding<br>reserve|||||14,298|14,298|
|Clubs archived|||||1,598|1,598|
|Societies archived|||||1,086|1,086|
|Clubs bidding reserve|||||1,827|1,827|
|Total Designated<br>Funds||154,717|||23,922|178,639|
|Total Unrestricted<br>Funds||195,995|2,566,452|(2,525,018)|23,922|260,351|
|Total Funds||(857,258)|3,225,767|(3,602,607)||1,229,098|





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|ET ASSETS BYFUNDS||||
|---|---|---|---|
||Restricted|Unrestricted|Total|
||||2021|
|||6|6|
|Tangible Fixed Assets||41,632|41,632|
|Investments||1|1|
|Net Current Assets|4,702|156,826|161,528|
|Liabilities due after more than one year|(1,460,166)||(1,460,166)|
|Total Funds|(1,455,464)|198,459|(1,257,005)|
|Available Reserves|4,702|198,459|203,161|
|Accounting<br>Reserves|(1,460,166)||(1,460,166)|
|Total Reserves|(1,455,464)|198,459|(1,257,005)|
||Restricted|Unrestricted|Total|
||||2020|
|||F|5|
|Tangible Fixed Assets||80,524|80,524|
|Investments||1|1|
|Net Current Assets/(Liabilities)|95,104|118,762|213,865|
|Liabilities due after more than one year|(1,523,488)||(1,523,488)|
|Total Funds|(1,428,384)|199,287|(1,229,098)|
|Available<br>Reserves|95,104|199,287|355,456|
|Accounting<br>Reserves|1,523,448||1,523,448|
|Total Reserves|1,428,384|199,287|1,229,098|





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|||2021|2020|
|---|---|---|---|
|||K|K|
|Cash flows from operating<br>activities||||
|Surplus for the financial year||(27,908)|(371,514)|
|Adjustments<br>to reconcile profit for the year to net cash from||||
|operating<br>activities||||
|Interest received||(36)|(1,165)|
|Depreciation||46,649|58,884|
|(Increase)/decrease<br>in inventories||24,350|(1,262)|
|Decrease in trade and other debtors||2,359|53,672|
|Increase<br>in trade and other creditors||(1,558)|(109,474)|
|Add back Pension Discount<br>Unwinding|Costs|22,976|415,440|
|Cash generated<br>from operating<br>activities||66,831|44,581|





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