Keele Postgraduate Association Statement of Financial Activities for the year ended 31 July 2023
## Keele Postgraduate Association Statement of Financial Activities for the year ended 31 July 2023
## Contents
Page Reference and Administrative Details 1 Trustees and Officers’ Report 2to7 Independent Examiner's Report 8 Statement of Financial Activities 9 Balance Sheet 10 Notes to the Financial Statements 11 to 19
Keele Postgraduate Association Statement of Financial Activities for the year ended 31 July 2023
## Reference & Administrative Details for 2022-23 KPA Annual Report
## Trustees & Officers
|Chair& President:|MrAbdelrhman Rayis (elected 1*July 2022, resigned 30"June 2023)|
|---|---|
|Chair& President:|Ms Rachana Dhaka (elected iJuly 2023)|
|Vice President:|Ms Rachana Dhaka (elected 1°July 2022, resigned 30" June 2023)|
|Vice President:|Mr Michel Ghrayeb (elected 1* July 2023)|
|Association Secretary:|Ms Bethany Edge (elected 22" November 2021, resigned 18" November 2022)|
|Association Secretary:|Mr Rajkaran Singh (elected 30" November2022, resigned 30""June 2023)|
|Association Secretary:|MrAayush Batra (elected 1°July 2023)|
|Student Trustee:|Mr Rohan Tiwari (elected 21* November 2022,resigned 30"June 2023)|
|Student Trustee:|Mr Harshit Mishra (elected1July 2023)|
|ExternalTrustees:|Dr Rachel Bright (resigned 23”September 2022)|
||MrRobert Meredith (appointed 19" December 2022)|
||Mr David James|
||DrBeckyBowler(appointed31August2022)|
Principal Office: Room 97, Keele Hall, Keele University, Staffordshire, STS 5BG
Charity Registration Number: 1143888 Bankers: Santander (Clubhouse) and Co-op Bank (Activity Account)
Independent Examiner: Claire Slater Slaters & Co Accountants Lymore Villa 162A London Road Chesterton Newcastle Under Lyme Staffordshire ST5 7JB
1
Keele Postgraduate Association Statement of Financial Activities
for the year ended 31 July 2023
## Trustees’ and Officers’ Report 2022 — 2023
The Trustees and Officers of Keele Postgraduate Association (KPA) are honoured to present their Annual Report for the year ending 31 July 2023.
## The KPA’s Charitable Objectives
Our commitment to the postgraduate community at Keele University is anchored in these foundational objectives:
- e¢ To relieve financial hardship: Ensuring, where possible, that financial barriers do not hinder the academic and personal growth of postgraduate students
- e To advance education: Facilitating academic workshops, seminars, and collaborative projects to enrich the learning experience
- e To promote and protect good health: Implementing programs that focus on mental, emotional, and physical well-being
- e To provide facilities for recreation and leisure time occupation of those who have need of such facilities in the interests of social welfare with the object of improving their condition of life: Creating spaces and opportunities for students to relax, socialise, and
- build a sense of community
## Strategic Initiatives and Achievements
1. Postgraduate Advocacy and Representation
2. Elevating Postgraduate Research and Learning
3. Community Building and Engagement
4. Governance and Structural Evolution
5. Clubhouse Operations and Staffing
6. Financial Stewardship
## 1. Postgraduate Advocacy and Representation
Our full-time elected KPA Officers, representing a diverse range of academic disciplines, have actively participated in University Committee meetings, ensuring that the unique challenges and aspirations of postgraduate students are addressed.
2
Keele Postgraduate Association Statement of Financial Activities
for the year ended 31 July 2023
## Trustees and Officers Report
Over the past year, the KPA Committee has actively collaborated with partners such as Keele University, the KDA (Keele Doctoral Academy), and Keele SU to strengthen postgraduate representation and support. We have developed a training plan for PGR Reps and initiated a Postgraduate Membership Survey in collaboration with KDA and ILAS (Institute of Liberal Arts and Sciences). This survey aims to identify areas of postgraduate support that need improvement. Recognising the disruption students have faced due to the pandemic and other challenges, we have supported the Temporary Amendment to Regulation E1.
We also urged the University and UCU (University and College Union) to continue their negotiations, in the best interests of students. We maintained our position during the UCU Strikes and kept our members informed about the cause, action, and updates related to the situation.
In September 2022 we introduced the "Postgraduate Voice" initiative, a platform for students to share their experiences, challenges, and suggestions. The feedback we have received through this platform has been instrumental in shaping our programs and policies.
Our officers have represented our members on various fronts such as University Council, Senate, Education Committee and Quality Assurance platforms for different Faculties. We were part of the Focus Group for the appointment of the Director of Student Futures, as well as the Cost-of-Living Crisis Consultation Group, International Student Feedback Group and Race and Equality Support Group, to ensure that the voices of our PG community were heard at all levels, in the most effective way possible.
Last but not least, we have also worked hard on a number of case studies for specific postgraduate students, making sure they get the most out of their time at Keele; conveying their views and concerns to the University and and directing them to the appropriate resources where they have specific issues of concern.
2. Elevating Postgraduate Research and Learning The KPA committee was actively involved in the development of new postgraduate modules and programs, which were heavily promoted at open days and through international recruitment. We also contributed to the development of the revised plans for international induction and Welcome Week for the incoming class of international undergraduate and postgraduate students in September 2023.
During the Researcher Summer School 2022 and Keele Research Month 2023, our collaboration with the Keele Doctoral Academy (KDA) showcased the research of our postgraduate students. This not only highlighted their work but also furthered their development as researchers and provided them with enhanced networking opportunities. Workshops on academic writing and research methodology were provided, focusing on research methodologies, and academic writing, thus equipping students with crucial skills for their scholarly pursuits. Additionally, weekly Coffee Mornings were organised, offering students a relaxed environment to discuss their research and share experiences.
3
Keele Postgraduate Association Statement of Financial Activities for the year ended 31 July 2023
## Trustees and Officers Report
Furthermore, our KPA Bursary Program has continued to be actively promoted, providing financial assistance of between £50 and £500 to postgraduate students seeking to enhance their academic endeavours.
We appreciate the time and effort the Bursary Committee puts into assessing applications from students who need financial assistance to advance their studies or further develop their research. We extend our heartfelt thanks to them for their dedication to the KPA and its members.
Through the Bursary awards we make, we assist our members to participate in various conferences, seminars and training courses that are relevant to their study area. Recipients have given us positive feedback on how the Bursary has helped them to advance, both academically and personally. This demonstrates our ongoing commitment to enhance the academic experience of the Keele Postgrad Community.
We sincerely appreciate everyone's assistance in helping us to spread the word about the Bursary programme and ensure that it remains relevant for our members. We would also like to thank the Keele Alumni Team for contributing funding of £2,387.50 to support our Bursary scheme this year.
In the year 2022-23 we awarded bursaries to 29 students and the total amount awarded was £9,085.53. The average award was £313.
3. Community Building and Engagement The year witnessed a blend of academic symposiums, social gatherings, and cultural events. These were designed to cater to the diverse interests and backgrounds of our postgraduate community. In response to concerns about postgraduates experiencing social isolation, highlighted in our September survey, we organized a wide variety of events.
We held more in-person versions of our “Productive Postgrads” sessions, as well as coffee mornings, mindfulness workshops and craft sessions. In addition, we provided a weekly online drop-in session so that students who would otherwise be reluctant to speak with us or unable to commit to an in-person meeting could do so. Our members were able to feel a sense of belonging and community as a result.
We have also launched a variety of cultural events, including Afro-Night and Diwali, which were the most well-attended events of the year. This was a success because of the postgraduate students’ involvement as volunteers.
These events enjoyed robust participation, offering members a chance to engage with the committee and address their concerns. We continued offering Tuesday quiz evenings, as well as chocolate tasting, online cookie decorating, cheese and wine evenings, mindfulness creative workshops, and yoga, amongst others. We are deeply thankful to the KPA Clubhouse management team and team leaders for their unwavering support and assistance in orchestrating these events throughout the year. Their commitment and diligence have been pivotal in ensuring the success of these initiatives and in realising the KPA's goals.
4
## Keele Postgraduate Association Statement of Financial Activities for the year ended 31 July 2023
## Trustees and Officers Report
We organized an Easter egg decoration craft session within Keele’s Great Hall and an elf hunt around the grounds of Keele Hall over the holiday break, when our PG students eagerly volunteered. We also hosted hot meals and mulled wine Christmas Eve celebrations, Christmas Day brunches, woodland walks and movie clubs. We also took our students on the woods walk with the committee, providing them with a free coffee on their journey. This encouraged students to make connections with the campus and committee, incorporate an active lifestyle into their days, take breaks from their busy schedules, and generally improve their well-being. The KPA had a fruitful year, curating events that resonated with diverse interests while emphasizing well-being, diversity, and community engagement. Our priority is to continue creating a supportive and welcoming atmosphere for postgraduate students at Keele. Along with the trips we have taken care of their dietary requirements and provided them with food. We also held our annual Postgraduate Celebration Evening and Bob Beattie Awards on 20% June 2023. This event, brimming with unity and camaraderie, highlighted the significant achievements of the KPA and the postgraduate community during the year. It was heartening to see our community unite to acknowledge and celebrate our shared accomplishments. We extend our sincere thanks to all attendees; your support was crucial to the event's success and our milestones this past year. Your involvement truly enriched the cherished memories of that special evening.
The success of the event and our accomplishments this past year would not have been possible without the support of all the guests, the Keele Chapel team, Alison Tansey the KPA Co-ordinator, Bethany Edge (previous Association Secretary), Rachana Dhaka, Vice President, and the amazing Clubhouse team under the able guidance of Julia Lawton, Clubhouse Manager. The treasured recollections of that wonderful occasion were genuinely improved by the collective efforts.
## 4. Governance and Structural Evolution
The governance framework underwent a review, including plans for the introduction of new roles and responsibilities for our Officers and Student Trustee. This was aimed at enhancing efficiency and responsiveness.
Role descriptions were updated for each of the elected Officer roles and we have created a “Q&A Guide” to assist KPA Officers in better understanding and carrying out their roles.
A special group was formed to review and update our Constitution and Bye-Laws, ensuring they reflect the evolving needs and aspirations of our community. The President contributed to the University’s review of KPA's governance and strategy.
A Strategic Planning Day was held on 5** October 2022, where the KPA trustee board set their priorities for the year, based on feedback from our members’ survey. Priorities included providing opportunities for PGs to socialise and network, and helping PGs to prepare for the next steps on their career journey.
5
Keele Postgraduate Association Statement of Financial Activities for the year ended 31 July 2023
## Trustees and Officers Report
## 5. Clubhouse Operations and Staffing
With the influx of students returning to campus, the KPA Clubhouse expanded its operations. New thematic nights, such as Cultural Exchange Evenings and Academic Workshops were introduced.
Training programmes were organised for our Clubhouse staff; including customer service, conflict resolution, First Aid and event management.
6. Financial Stewardship
Financial transparency and accountability remained our top priorities. Regular financial reviews were conducted and financial reports were made available to our members. We reported on a 6-monthly basis to the University’s Business Review Committee.
The annual grant from Keele University ensured that we remained financially robust.
## Governance
During this year there have been notable changes to our governing board structure. As anticipated, we welcomed several new Officer and Student Trustees through our annual election process. We also welcomed two new external trustees, Dr Becky Bowler and Robert Meredith, both of whom have made a significant contribution to the organisation as a result of their valued previous experience.
Our sub-committees have been meeting with increased regularity to ensure that the challenges we face are thoroughly discussed, with actionable recommendations being made to the board.
We have continued our focus on refining our Constitution and By-Laws. In-depth discussions were held to determine how these foundational documents could be improved, simplified, and made more accessible for our members and other stakeholders. This work is set to continue into the next academic year (2023-2024).
We recognize the importance of having a current constitution that accurately represents our identity as a charity and our future aspirations, and we are dedicating significant time and resources to this endeavour.
## Trustee Board
The governance structure of the KPA encompasses three types of trustees: Officer Trustees (elected), Student Trustees (elected), and External Trustees (appointed). The latter are selected by the existing board of trustees through an Appointments Committee.
When suitable opportunities arise, induction and training are provided to all new trustees and officers, covering various aspects of our operations.
6
Keele Postgraduate Association Statement of Financial Activities
for the year ended 31 July 2023
## Trustees and Officers Report
## Staffing
The Clubhouse has had a large increase in staffing this year, due to the increase of demand in the return to campus by students.
## Staff Members
## The KPA has three permanent salaried staff positions:
KPA Finance and Administration Coordinator: Alison Tansey (part time) Senior Clubhouse Bar and Entertainments Manager: Julia Lawton (full time) Deputy Clubhouse Bar and Entertainments Manager: Charlotte Davies (full time)
We also have a series of Bar and Kitchen Team Leaders and Casual Staff employed at the Clubhouse on flexible contracts.
Funds held as custodian trustee on behalf of others The KPA does not hold funds for third parties.
Receiving an annual grant from Keele University, paid in instalments, the KPA continues to hold and manage its own funds.
We extend our profound gratitude to Keele University for its continued support and collaboration.
z
## Keele Postgraduate Association
## Independent examiner's report to the Trustees and Officers of Keele Postgraduate Association (Charity no : 1143888)
| report on accounts for the year ended 31 July 2023, which are set out on Pages 9 to 19.
## Respective responsibilities of trustees and examiner
The charity's trustees are responsible for the preparation of the accounts. The charity’s trustees consider that an audit is not required for this year under section 144 of the Charities Act 2011 (“the Charities Act”) and that an independent examination is needed. The charity’s gross income exceeded £250,000 and | am qualified to undertake the examination by being a qualified member of The Association of Certified Chartered Accountants.
## It is my responsibility to:
* examine the accounts under section 145 of the Charities Act,
¢ to follow the procedures laid down in the general Directions given by the Charity Commission (under section 145(5)(b) of the Charities Act, and
¢ to state whether particular matters have come to my attention.
## Basis of independent examiner’s statement
My examination was carried out in accordance with general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a ‘true and fair’ view and the report is limited to those matters set out in the statement below.
## Independent examiner's statement
In connection with my examination, no matter has come to my attention:
1. which gives me reasonable cause to believe that in, any material respect, the requirements:
e to keep accounting records in accordance with section 130 of the Charities Act; and
* to prepare accounts which accord with the accounting records and comply with the accounting requirements of the Charities Act have not been met; or
2. to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be
reached.
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Sinead: (2 -E- -
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Date: 31 October 2023
Name:
## Claire Slater FCCA
Address:
Slaters & Co Accountants, Lymore Villa, London Road, Chesterton, Staffs ST5 7JB
8
## Keele Postgraduate Association Statement of Financial Activities for the year ended 31 July 2023
|||Unrestricted|Restricted|2023 Total|2022 Total|
|---|---|---|---|---|---|
||Note|Funds|Funds|Funds|Funds|
|||£|£|£|£|
|Income and Endowments from:||||||
|Donations and legacies|2|126,665|25,739|152,404|114,692|
|Charitable Activities|3|819,034|)|819,034|690,617|
|Total Income||945,699|25,739|971,438|805,309|
|Expenditure on:||||||
|Charitable Activities|4|970,343|25,739|996,082|753,330|
|Total Expenditure||970,343|25,739|996,082|753,330|
|Net movement in funds||(24,644)|0|(24,644)|51,979|
|Gains/(Losses) on disposal ofAssets||0|0|0|)|
|Net movement in funds||(24,644)|0|(24,644)|51,979|
|Reconciliation of funds||||||
|Total Funds Brought forward||141,800|0|141,800|89,821|
|TotalFundsCarriedForward||117,156|0|117,156|141,800|
9
## Keele Postgraduate Association
## Balance Sheet
at 31 July 2023
||Note|2023||2022||
|---|---|---|---|---|---|
|||£|£|£|£|
|Fixed Assets||||||
|Tangible Assets|11|4,335||4,747||
|Total fixed Assets|||4,335||4,747|
|Current Assets||||||
|Stocks|12|14,862||13,676||
|Debtors|13|47,835||29,681||
|Cash at Bank and in hand||101,062||140,833||
|Total Current Assets||163,759||184,190||
|Creditors:Amounts fallingdue in oneyear|14|(50,938)||(47,137)||
|Net CurrentAssets|||112,821||137,053|
|Net Assets|||117,156||141,800|
|The funds ofthe Charity||||||
|Unrestricted income funds|||117,156||141,800|
|Restricted income funds|||0||0|
|TotalFunds|15||117,156||141,800|
The financial statements on pages 9 to 19 were approved by the Trustees and Officers, and authorised for issue on 9th November 2023 and signed on their behalf by
## D
nal pl“
Ms Rachana Dhaka
Trustee
10
Keele Postgraduate Association Notes to the Financial Statements for Year Ended 31 July 2023
## 1. Accounting Policies
## Statement of compliance
The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2015) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.
## Basis of preparation
Keele Postgraduate Association meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notes.
## Exemption from preparing a cash flow statement
The Charity opted to early adopt Bulletin | published on 2 February 2016 and have therefore not included a cash flow statement in these financial statements.
## Going concern
The Trustees and Officers consider that there are no material uncertainties about the Charity's ability to continue as a going concern.
## Income and endowments
Voluntary income including donations, gifts, legacies and grants that provide core funding or are of a general nature is recognised when the Charity has entitlement to the income, it is probable that the income will be received and the amount can be measured with sufficient reliability.
## Donations and legacies
Donations and legacies are recognised on a receivable basis when receipt is probable and the amount can be reliably measured.
## Grants receivable
Grants are recognised when the charity has an entitlement to the funds and any conditions linked to the grants have been met. Where performance conditions are attached to the grant and are yet to be met, the income is recognised as a liability and included on the balance sheet as deferred income to be released.
## Expenditure
All expenditure is recognised once there is a legal or constructive obligation to that expenditure, it is probable settlement is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure heading that aggregate similar costs to that category. Where costs cannot be directly attributed to particular headings they have been allocated on a basis consistent with the use of resources, with central staff costs allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset's use. Other support costs are allocated based on the spread of staff costs.
11
## Keele Postgraduate Association Notes to the Financial Statements for Year Ended 31 July 2023
## Charitable activities
Charitable expenditure comprises those costs incurred by the Charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.
## Support costs
Support costs include central functions and have been allocated to activity cost categories on a basis consistent with the use of resources, for example, allocating property costs by floor areas, or per capita, staff costs by the time spent and other costs by their usage.
## Governance costs
These include the costs attributable to the Charity's compliance with constitutional and statutory requirements, including audit, strategic management and Trustee's meetings and reimbursed expenses.
## Taxation
The Charity is considered to pass the tests set out in Paragraph | Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the Charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.
## Tangible fixed assets
Individual fixed assets costing £500 or more are initially recorded at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses
## Depreciation and amortisation
Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:
## Asset class
Asset class Depreciation method and rate Fixtures, Fittings and Equipment 25% on cost
## Stock
Stock is valued at the lower of cost and estimated selling price less costs to complete and sell, after due regard for obsolete and slow moving stocks. Cost is determined using the first-in, first-out (FIFO).
## Fund structure
Unrestricted income funds are general funds that are available for use at the trustee's discretion in furtherance of the objectives of the Charity.
12
## Keele Postgraduate Association Notes to the Financial Statements for Year Ended 31 July 2023
|||Unrestricted|Restricted|2023 Total|2022 Total|
|---|---|---|---|---|---|
||Note|Funds|Funds|Funds|Funds|
|||£|£|£|£|
|2. Income from donations and legacies||||||
|Donations and legacies;||||||
|Donations from companies, trusts and similar||||||
|proceeds|17|52,861|2,387|55,248|46,124|
|Government grants||0|-|0|1,776|
|Grants, including capital grants;||||||
|Grants from other charities||73,804|23,352|97,156|66,792|
|||126,665|25,739|152,404|114,692|
|3. Income from charitable activities||||||
|Bar Sales||557,532|0|557,532|497,223|
|Catering Sales||239,403|0|239,403|192,532|
|Bar snacks and Tobacco||2,033|0|2,033|862|
|Sundry Other Income||20,066|)|20,066|0|
|||819,034|)|819,034|____690,617|
13
## Keele Postgraduate Association
## Notes to the Financial Statements for Year Ended 31 July 2023
|||Activity|Activity|||
|---|---|---|---|---|---|
|||undertaken|support|2023|2022|
||Note|directly|costs|Total|Total|
|||£|£|£|£|
|4. Expenditure on charitable activities||||||
|Charitable Activities||||||
|Purchases||443,286||443,286|343,566|
|Staff Costs|9|253,832|114,085|367,917|252,322|
|Training
& Governance Consultancy|9|5,188||5,188|180|
|Rent and Utilities||52,861||52,861|46,124|
|Agency - Security||19,153||19,153|8,435|
|Insurance||2,596||2,596|1,755|
|Equipment hire and rental||3,010||3,010|4,983|
|Equipment||9,121|251|9,372|8,098|
|Repairs and Renewals||5,155||5,155|9,076|
|Events Fees / Exps||27,659||27,659|26,580|
|Conference Fees/Expenses||)|654|654|312|
|Media / Marketing|||315|315|175|
|Stationary, printing and postage||1,546||1,546|1,722|
|Travel||2,903||2,903|3,365|
|Licences||396||396|1,346|
|Cleaning||14,619||14,619|12,392|
|Sundry Other Expenditure||3,555|89|3,644|2,200|
|Independent Examination Fees|5|4,000|1,530|5,530|750|
|Bank Charge and Interest|||17,401|17,401|14,581|
|Student support|6||9,086|9,086|11,747|
|Bad Debt||0||i)|0|
|Depreciation|7|3,791||3,791|3,621|
|||852,671|143,411|996,082|753,330|
£981,278(2022 - £751,554) of the above expenditure was attributable to unrestricted funds and £25,739 (2022 - £1,776) to restricted funds.
Included in the expenditure analysed above, are governance costs of £900 (2022 - £750). See Note 5 for further details.
14
## Keele Postgraduate Association
## Notes to the Financial Statements
for Year Ended 31 July 2023
||Unrestricted|Restricted||2023 Total|2022 Total|
|---|---|---|---|---|---|
||Funds|Funds||Funds|Funds|
||£|£||£|£|
|5. Analysis ofgovernance and support costs||||||
|Governance costs||||||
|Independent Examiner's remuneration|900||0|900|750|
|Management accounts & FRS102 financial||||||
|statements|4,480|||4,480||
|Other governance costs|0||0|0|0|
||5,380||0|5,380|750|
## 6. Grant Making
|6. Grant Making|||
|---|---|---|
||Grants to||
||individuals||
||2023|2022|
||£|£|
|Analysis|||
|StudentSupport|9,086|11,747|
||9,086|11,747|
|The support costs associated with grant-making are £Nil (2022 - ENil)|||
|7. Net incoming/outgoing resources|||
||2023|2022|
||£|£|
|Depreciation ofFixed Assets|3,848|3,621|
||3,848|3,621|
## 8. Trustees' remuneration and expenses
No Trustees, nor any persons connected with them, have received any remuneration from the charity during the year
No Trustees were reimbursed any expenses during the year. No Trustees received benefits from the charity during the year.
15
## Keele Postgraduate Association Notes to the Financial Statements for Year Ended 31 July 2023
## 9. Staff Costs
The aggregate payroll costs were as follows:
||2023|2022|
|---|---|---|
|Staff costs duringtheyear were:|£|£|
|Wages and Salaries|321,756|240,968|
|Social Security Costs|46,161|11,354|
|Training|5,188|180|
||373,105|252,502|
The monthly average number of persons (including senior management team) employed by the Charity during the year expressed as full time equivalents were as follows:
||2023|2022|
|---|---|---|
|Administration and Supervisory Staff|3|3|
|Bar Staff|35|26|
||38|29|
No employee received emoluments of more than £60,000 during the year.
## 10. Taxation
The Charity is a registered charity and is therefore potentially exempt from taxation.
16
## Keele Postgraduate Association Notes to the Financial Statements for Year Ended 31 July 2023
||Furniture and|Total||
|---|---|---|---|
||Equipment|||
||£|£||
|11. Tangible Fixed Assets||||
|Cost||||
|As at 1 August 2022|18,736|18,736||
|Additions|3,380|3,380||
|Disposals|0|0||
|At 31 July 2023|22,116|22,116||
|Depreciation||||
|As at 1 August 2022|13,990|13,990||
|Charge for year|3,791|3,791||
|Elimination on Disposals|0|0||
|At 31 July 2023|17,781|17,781||
|Net book Value||||
|At 31 July 2023|4,335|4,335||
|At 31 July 2022|4,746|4,746||
|12. Stock||2023|2022|
|||£|£|
|Stocks||14,862|13,676|
|13. Debtors||2023|2022|
|||£|£|
|Prepayments||0|)|
|Other Debtors||47,835|29,681|
|||47,835|29,681|
|14. Creditors: amounts falling due within on year||||
|||2023|2022|
|||£|£|
|Trade Creditors||13,467|13,900|
|OtherTaxation and Social Security||29,750|27,630|
|Deferred income||0|0|
|Accruals||Wf21.|5,607|
|||50,938|7,137|
17
## Keele Postgraduate Association Notes to the Financial Statements for Year Ended 31 July 2023
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|||||||||
|---|---|---|---|---|---|---|---|
|Balance|at|1|Incoming|Resources|Balance|at|31|
|August|2022|resources|expended|July|2023|
|£|£|£|£|
|15.|Funds|
|Unrestricted|funds|
|Unrestricted general|funds|
|General|funds|141,800|945,699|(970,343)|117,156|
|Restricted|funds|
|Keele|University|0|0|0|0|
|Government|Grants|0|0|0|0|
|Total|restricted|funds|)|6)|ie)|0|
|Total funds|141,800|945,699|(970,343)|117,156|
|Balance|at|1|Incoming|Resources|Balance|at|31|
|Comparative|Funds|August|2021|_—srresources|expended|July 2022|
|£|£|£|£|
|Unrestricted|funds|
|Unrestricted general|funds|
|General|funds|89,821|803,533|(751,554)|141,800|
|Restricted|funds|
|Keele|University|0|-|0|0|
|Other|0|1,776|(1,776)|0|
|Total|restricted|funds|¢)|1,776|(1,776)|0|
|Total funds|89,821|805,309|(753,330)|141,800|
**----- End of picture text -----**
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Keele Postgraduate Association Notes to the Financial Statements for Year Ended 31 July 2023
## 16. Analysis of net assets between funds
||Unrestricted|Restricted||
|---|---|---|---|
||Funds|Funds||
||General funds|Generalfunds|Total funds|
||£|£|£|
|Fixed assets|4,335|0|4,335|
|Current assets|163,759|0|163,759|
|Current liabilities|(50,938)|0|(50,938)|
||117,156|0|117,156|
## 17. Related party transactions
During the year the Charity made the following related party transactions:
## Keele University
(KPA is the Postgraduate Association for Keele University)
KPA received grants from Keele University of £73,804, during the year (2022 £66,792). In addition KPA bought goods and services from Keele University to the value of £17,918 (2022 £14,769) on commercial terms.
KPA occupies the University's buildings on a rent free basis under an informal agreement. The value of donated rent and overheads amounted to £52,861 in the year under review (2022 £46,124).
A donation from Keele Alumni for KPA Bursaries was received totalling £2,387.
At the balance sheet date the amount due to Keele University was nil (2022 £817).
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