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|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|||
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|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%|
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||||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)|
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||||||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|
##
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|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|
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|||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|
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|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|
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||||||||||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||
##
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|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|
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||||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|
##
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|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|
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|||||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|
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|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|
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|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|
##
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##
|||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)|
##
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##
|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)|
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|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)|
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|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|
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