2022-07-31-accounts

CONTENTS			PAGE
Trustee Board and Union		Information
Report ofthe Trustees
Trustees Responsibilities			17
Independent Auditors'	Report to the Members
Statement of Financial	Activities		23
Balance Sheet			24
Cash Flow Statement			25
Notes to the Financial	Statements

Board Members	Trustee Category		Meetings attended
			%Attendance
Zuleikha Chikh	Officer - Union President		2 (of4) (50%)
Usman Kasaba	Officer - Vice President	Education	4 (of4) (100%)
Katie Sandison	Officer - Vice President	Activities	4 (of4) (100%)
Odette Yende	Officer - Vice President	Welfare	3 (of4)(75%)
Emma Sims	External		3 (of4) (75%)
Jill Wells	External		3 (of4) (75%)
Geoff Birch	External		2 (of2)(100%)
Nicola Mason	External		2 (of2)(100%)
Jose Sedano-Martinez	External		2 (of2)(100%)
Peter Hyett	External		2 (of2)(100%)
Dana Hemsley	Student		0 (of2)(0%)
Aicha Khan	Student		2 (of2)(100%)
Yattichia Malcolm	Student		2 (of4) (50%)
Anita Muathe	Student		2 (of2)(100%)
Rufus Onetufo	Student		1 (of4)(25%)
Dean Kamitsis	Student		2 of2 100%

			2022		2021
		Restrlcte
		d	Unrestricted	Total	Total
	Note	6	E		6
INCOME FROM:
Voluntary income			1,324,496	1,324,496	1,287,839
Grants and other funding					73,213
Charitable activities	S	S90,766	429,669	1,020,424	807,675
Other trading activities			6,101	6,101	1,230
Investments			926	926	36
Income from Operations		590,766	1,761,181	2,361,946	2,169,994
EXPENDITURE ON:
Charitable activities:
Membership services	7-9	649,699	1,220,206	1,769,806	1,307,808
Primary purpose trading	7-9	43,066	433,964	477,009	833,218
Expenditure from Operations		692,664	1,664,160	2,246,814	2,141,026
Pension Discount Unwinding Cost	11 / 21	(172,497)		(172,497)	(22,976)
Exceptional Expenditure	11		6,150	6,150	(33,900)
Total Expenditure		420,167	1,660,310	2,080,467	(2,197,902)
Net Operating Result for the year - Surplus/(Deficit)		(1,889)	107,021	106,132	28,968
Net Result for the year Surplus/(Deficit)		170,608	100,871	271,479	(27,908)
Total funds brought forward		(1,466,461)	198,466	(1,267,005)	(1,229,097)
Reserves Transfer	20	81,949	(81,949)
Total funds carried forward		(1,202,904)	217,378	(986,626)	(1,257,005)

					31/07/2022	31/07/2021
			Note	F	6	6
FIXED ASSETS
Tangible fixed assets			13		20,420	41,632
Investments			14		1	1
					20,421	41,633
CURRENT ASSETS
Stock			15		20,217	26,220
Debtors			16		57,654	101,768
Cash at bank and in hand					325,650	243,452
					403,521	371,441
CREDITORS:
Amounts due within one year			17	(212,109)		(209,913)
NET CURRENT ASSETS					181412	161 528
Total assets less current		liabilities			211,833	203,161
CREDITORS:
Amounts due after more	than one year		18		1 197359	1,460 166
NET ASSETS			24		985526	1,257005
FUNDS
Restricted funds
- Pension Deficit Reserve					(1,288,210)	(1,546,464)
- Students' Societies		&Club Funds			86 3DD	21DD3
- Total Restricted Funds					1 202 904	~7455 461
Unrestricted funds
- General Funds					173,019	157,904
- Designated Funds					44365	40,552
- Total Unrestricted	Funds				217378	198,456
TOTAL FUNDS			20		985526	1,257,005

CASH FLOW STAT	CASH FLOW STAT	EMEN	T
31 JULY 2022
						2022	2021
Net cash (ouNow)/inflow from activities				operating	27	173,346	66,831
Investln	activities
Payments	to acquire	tangible		fixed assets		(6,321)	(7,855)
Net cash	flow from	investing		activities		(6,321)	(7,855)
Financin	activities
Repayment of Pension Deficit Interest received						(86,766) 926	(61,065) 36
Net cash activities	flow from/	(used	in) financing				(61,029)
Increase/(Decrease) equivalents		in cash	and cash			82,196	(2,053)
Cash and	cash equivalents		at	start ofyear		243463	245,506
Cash and	cash equivalents		at	end ofyear		326,649	243,453

		Restricted	Unrestricted	Total
				2022
		E	f	E
	Grant Funding		1 324496	1324496
			1 324496	1 324496
		Restricted	Unrestricted	Total
				2021
		E	E	E
	Grant Funding		1,287,839	1,287839
			1,287,839	1 287,839
4.	GRANTS AND OTHER FUNDS
		Restricted	Unrestricted	Total
				2022
			E	E
	Job Retention Scheme claims
		Restricted	Unrestricted	Total
				2021
		E	E	E
	Job Retention Scheme claims		73213	73213
			73,213	73,213

COME FROM CH	ARITABL	E	ACTIVITIES
				Restricted	Unrestricted	Total
						2022
				E	6	f
Voice				129,164	7,180	136,344
Life				129,164	(1,261)	127,913
Community				289 382	39845	329 227
Membership Services				647710	46774	593684
Primary Purpose Trading		Activities		43,066	383,885	426,940
Total				590766	429 659	1020 424
Charitable activities
Direct Income from charitable			activities	160,217		160,217
Benefit in kind—
Accommodation	& Service			430,548		430,648
Clubs and Societies - Income					429,669	429 669
				590766	429 669	1 020424
				Restricted	Unrestricted	Total
						2021
				6	f	F.
Voice				102,583	12,500	115,083
Life				73,398	1,950	75,348
Community				111279	43,883	155,162
Membership Services				287 260	58333	345 593
Primary Purpose Trading		Activities		312,855	149,227	482,082
Total				600 115	207,560	807,675
Charitable activities
Direct Income from charitable			activities	37,301		37,301
Benefit in kind— Accommodation	& Service			562,814		582,814
Clubs and Societies - Income					207 560	207,560
				600,115	207 580	807675

									Restricted	Restricted	Unrestricted	Unrestricted	Total
													2022
										6		6	6
	Marketing										5,268		6,268
	Profit	on	sale of tangible				fixed assets					833	833
											6	101	6 101
									Restricted		Unrestricted		Total
													2021
										6		6	f
	Marketing										1	230	1 230
											1,230		1,230
7.	CHARITABLE				ACTIVITIES
	Restricted		and Unrestricted					Expenditure	by Theme
									Restricted	Unrestricted			Total
													2022
													6
	Membership			Services
	Voice								129,164		694,063		823,217
	Life								129,164		137,491		266,665
	Community								291,067		388,662		679,729
	Projects								204				204
									649 699		1 220 206	1	769806
	Primary	Purpose Trading					Activities		43066		433964		477009
									692664		1664160	2	246 814
	Direct Costs			Plus Benefit			in	Kind
	Direct expenditure										1,664,160	1,664,160
	Clubs and Societies- Expenditure								161,902				161,902
	Benefit	in Kind			—Accom	8 Services			430,648				430,648
	Projects	in membership				services			204				204
									692664		1 664160	2	246 814
									Restricted	Unrestricted			Total
									6				2021f
	Membership			Services
	Voice								102,583		656,506		759,089
	Life								73,398		115,513		188,911
	Community								103,468		256,340		359,808
									279,449		1,028,359	1,307,808
	Primary	Purpose Trading					Activities		312,855		520,363		833,218
									592,304		1,548 722	2,141,026

YE	AR ENDED 31 JULY 2022
7.	CHARITABLE ACTIVITIES (continued)
	Direct Costs Plus Benefit in Kind
	Direct expenditure on charitable activities		1,548,722	1,548,722
	Clubs and Societies - Expenditure	29,490		29,490
	Benefit in Kind —Accom &Services	562 814		562 814
		592 304	1 548,722	2,141026

Direct &	Sup	port Expenditure by Them	e
			Activities
			undertaken	Support	Total
			directly	costs	2022
			6	6	6
Membership		Services
Voice			733,917	89,300	823,217
Life			177,356	89,300	266,655
Community			690,428	89,301	679,729
Projects			204 1 601 904	267 901	204 1 769806
Primary	Purpose Trading Activities		447,242	29,767	477,009
Total			1 949146	297 668	2 246 814
			Activities
			undertaken	Support	Total
			directly	costs	2021
			6	6	6
Membership		Services
Voice			699,703	59,386	759,089
Life			146,421	42,490	188,911
Community			316982 1 163106	42,826 144,702	359808 1,307808
Primary	Purpose Trading Activities		652,105	181,113	833,218
Total			1 815,211	325815	2,141026

			Primary
			Purpose	Central
		Membership Services	Trading Activities	Support Costs	Total 2022
		6	6	6	E
Good for Resale		25,330	201,049		226,379
Salaries &Wages		751,608	155,944	176,351	1,083,903
Training, Development	&Travel	9,500		6,941	16,441
Other Employment Costs		1,433		28,011	29,444
NUS Affiliation		29,782			29,782
Clubs and Societies —Transport, Facilities &Affiliation		71,255	165	7,766	79,186
Insurance		4,134		20,933	25p067
Buildings —Repairs and	Cleaning		10,646	2,437	13,083
Essential Materials		1,855	10,157	1,695	13,707
Equipment and Software		19'439	6I778	7,831	34,048
Minibus Expenditure		8,517			8,517
Advertising and Marketing		7,988	628		8,616
Finance Expenses		2,819	11,996	1,650	16'465
Professional Expenses		Sp540	1,543	17,760	24,843
Administration Charges		13,242	I184)	4,090	17,148
Depreciation - Refurbishment		8,644	689	812	10,145
Depreciation - Equipment		4,135	9,082	4,169	17,386
Benefit in kind - Accommodation
and Services		374,577	38,749	17.222	430,548
Restricted Club and Society Costs		161,902			161,902
Restricted project costs		204			204
		1 601,904	447 242	297 668	2 246 814
Central Support Cost Allocation		267901	29767	297668
Total		1 769806	477009		2 246 814

Charitable expenditu	re by cost	type
			Primary
			Purpose	Central
		Membership Services	Trading Activities	Support Costs	Total 2021
		E	E	E	E
Good for Resale		28,975	74,233		103,208
Salaries &Wages		708,999	212,295	194,137	1,115,431
Training, Development	&Travel	7,654	405	8,705	16,764
Other Employment Costs		1,193	2,290	22,456	25,939
NUS Affiliation		30,774			30,774
Clubs and Societies —Transport, Facilities &Affiliation		28,181	123	4,415	32,719
Insurance		5,283	992	23,665	29,940
Buildings —Repairs and	Cleaning		1,783	3,231	5,014
Essential Materials		580	4,566	12	5,158
Equipment and Software		20,258	12,355	20,861	53,475
Minibus Expenditure		9,780			9,780
Advertising and Marketing		8,652	1,235	1,000	10,887
Finance Expenses		875	4,097	943	5,915
Professional Expenses		13,293	4,325	21,000	38,618
Administration Charges		11,061	1,252	6,138	18,451
Depreciation - Refurbishment		9,276	10,390		19,666
Depreciation - Equipment		6,322	18,294	2,367	26,983
Benefit in kind - Accommodation
and Services		242,460	303,469	16,885	562,814
Restricted Club and Society Costs		29,490			29,490
		1 163,106	652 105	325,815	2 141026
Central Support Cost Allocation		144,702	181113	325815
Total		1 307808	833 218		2141 026

				Total	Total
				2022	2021
				f	6
Audit				8,600	6,000
Insurance				1 333	1,850
Board away day				832
Board expenses				1,047	105
NOVO —Consultancy		Fees —Governance	Review		4875
Training	events			8,366
Software				6,797
Civil Subscription				oooo	sso
				so sos	os sos

				Restricted	Unrestricted	Total
						2022
				6	E	6
Salary fraud					1,378	1,378
Stock write off					4,772	4,772
SUSS Pension		Deficit Discount	Unwinding	172497		172497
				172497	6160	166347
				Restricted	Unrestricted	Total
						2021
					6	E
Redundancies		and exiting costs			28,760	28,760
Working	from Home Equipment				5,140	5,140
SUSS Pension		Deficit Discount
Unwinding				22 976		22 976
				22 976	33900	56876

STAFF	COSTS AND NUMBERS
		Total	Total
		2022	2021
		6	6
Wages	and salaries	925,861	945,914
National	insurance	75,368	79,568
Pension	costs	82674	89949
		1 083903	1,115431

	2022	2021
	No.	No.
Full time staff	37	40
Student staff	36	15
	72	45

	Building	Motor	Fixtures &
	costs	Vehicles	Equipment	Total
	6	f	F.	6
Cost
As at 1 August 2020	1,064,667	10,911	649 876	1 616464
Additions			6,321	6,321
Disposals		10911		10911
As at 31 July 2021	1,064,667		666,197	1,610,864
Accumulated depreciation
As at 1 August 2021	1,041,139	10,909	521,774	1,673,822
Charge for the year	10,145		17,386	27,631
On Disposals		10909		10909
As at 31 July 2022	1,061,284		539,160	1,590,444
Net book value
31 July 2022	3383		17037	20,420
31 July 2021	13,628	2	28 102	41 632

14.	FIXEDASS	E	T INVESTMENT
					Investment	In		Total
					subsidiaries
	Cost						6
	As at 1 August		2021 and 31 July 2022				1
					2022			2021
	Name ofcompany				Equity held			Equity held
					0/
	Investments		in subsidiaries
	53 Degrees	Events Limited			1PP%			1PP%
					Aggregate		of
					share capital			Profit for
				Turnover	and reserves			the year
							f	6
	53 Degrees	Events Limited - dormant					1
16.	STOCK
						2022		2021
							f	5
	Bar					6,289		9,618
	Shop stock							11,016
	Atrium stock					3,844		885
	Clothing stock					11	084	4701
						20	217	26 220
16.	DEBTORS
						2022		2021
							f	6
	Prepayments		and accrued income			31,689		46,827
	University	debtor				10,902		36,831
	Other debtors					15	063	18110
						57	654	101,768

		2022	2021
		6	F.
Trade creditors		46,189	50,105
Social security and other taxes		21,311	16,724
Other creditors		36,927	36,594
Accruals and deferred	income	18,830	20,192
Pension liability		90862	86298
		212,109	209,913

	2022 6	2021f
Pension liability	1 197369	1,460,166
	1 197369	1460166
Repayment due as follows:
Due 1-2Years	186,245	177,516
Due 2-5 Years	316,763	301,940
Due 5+Years	696361	980,710
	1 197369	1,460.166

							2022	2021
							6	6
Financial	liabilities	measured	at	present	value:
Pension	deficit					1	288 211	1,640,464
						1	288 211	1.646,464

20. RESERVES
		At 1 August 2021	Incoming resources	Resources expended	Transfers	At 31 July 2022
Restricted Funds
Pension Deficit Fund		(1,546,464)		172,497	86,766	(1,288,211)
Benefit in kind— Accommodation and	Service		430,648	(430,648)
Clubs and Societies		91,003	162,049	(161,902)	(6,460)	75,e90
Student Union Projects			8 168	204	1 653	9517
Total Restricted Funds		1455 461	590766	420 167	81 949	1 202 904
Unrestricted Funds
Accumulated General	Fund	167904	1 761 181	1660310	85766	173 019
Total General Funds		167,904	1,761,181	(1,660,310)	(85,766)	173,019
Designated funds
Film and arts designated fund		5,113				6,113
Sport Ballfunds		4,717				4,717
Clubs and Societies bidding
reserve		23,177			(766)	22,412
Clubs and Societies archived		e,945			6,472	12,417
Homes for Students		600			900	300
Total Designated Funds		40,562			3,807	44,669
Total Unrestricted Funds		198,466	1,761,181	(1,660,310)	81,949	217,578
Total Funds		(1,257,004)	2,361,946	(2,080,467)		(986,526)

2021 Reserves Movement
	At 1 August 2020	Incoming resources	Resources expended	Transfers	At 31July 2021
Restricted Funds
Pension Deficit Fund	(1,584,553)		(22,976)	61,065	(1,546,464)
Benefit in kind— Accommodation and Service		562,814	(562,814)
Clubs and Societies	95,105	37301	29490	11913	91003
Total Restricted Funds	1489448	600 115	615280	49,152	1455 461
Unrestricted Funds
Accumulated General Fund	81,712	1 569 879	1 582 622	88935	157903
Total General Funds	81,712	1,569,879	(1,582,622)	88,935	157,903
Designated funds
Building designated reserve	150,000			(150,000)
Film and arts designated fund	5,113				5,113
Sport Ballfunds	4,717				4,717
Clubs and Societies bidding
reserve	16,125			7,052	23,177
Clubs and Societies archived	2,684			4,261	6,945
Homes for students				600	600
Total Designated Funds	178,639			(138,027)	40,552
Total Unrestricted Funds	260,351	1,569,879	(1,582,622)	(49,152)	198,456
Total Funds	(1,229,097)	2,169,994	(2,197,902)		(1,257,005)

ET ASSETS BYFUNDS
	Restricted	Unrestricted	Total
			2022
		f	6
Tangible Fixed Assets		20,420	20,420
Investments		1	1
Net Current Assets	(5,546)	196,967	191,411
Liabilities due after more than one year	(1,197,369)		(1,197,369)
Total Funds	(1,202,904)	217,378	(985,626)
Available Reserves	86,306	217,378	302,684
Accounting Reserves	(1,288,221)		('I,288,211)
Total Reserves	(1,202,904)	217,378	(985,626)
	Restricted	Unrestricted	Total
			2021
		E	E
Tangible Fixed Assets		41,632	41,632
Investments		1	1
Net Current Assets/(Liabilities)	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 Reserves	(1,460,166)		(1,460,166)
Total Reserves	(1,455,464)	198,459	(1,257,005)

Trustees were reimbursed a total of Enil (2 subsistence expenses.	021 - Enil) for the year	in respect ofperso	nal travel and
RECONCILIATION OF OPERATING CASH	FLOW
		2022	2021
		6	E
Cash flows from operating activities
Surplus for the financial year		271,479	(27,908)
Adj ustments to reconcile profit for the year to net cash from
operating activities
Interest received		(926)	(36)
Depreciation		27,631	46,649
(Increase)/decrease in inventories		6,003	24,350
Decrease in trade and other debtors		44,114	2,359
Increase in trade and other creditors		(2,368)	(1,558)
Add back Pension Discount Unwinding	Costs	(172,497)	22,976
Cash generated from operating activities		113346	66 631