## **The University of Northampton Students’ Union Consolidated Financial Statements for the Year Ended 31[st] July 2021**
1
## **The University of Northampton Students’ Union (UNSU) Annual Report and Accounts for the year ended 31[st] July 2021**
## **CONTENTS**
||**Page**|
|---|---|
|Charity Reference and Administrative Details|3 - 4|
|Report of the Trustees|5 - 8|
|Independent Auditor’s Report|9 - 11|
|Consolidated Statement of Financial Activities|12|
|Statement of Financial Activities|13|
|Consolidated Balance Sheet|14|
|Consolidated Statement of Cash Flows|15|
|Notes to the Financial Statements|16- 28|
2
**The University of Northampton Students’ Union (UNSU) Annual Report and Accounts for the year ended 31[st] July 2021**
## **ADMINISTRATIVE DETAILS**
## **Charitable Status**
The University of Northampton Students’ Union (UNSU) is an unincorporated charity established under the Education Act 1994 and registered with the Charity Commission (No. 1144827) since 28[th] November 2011, when Students’ Unions connected with exempt higher/ further education institutions were removed by section 11(9), Charities Act 2006, from the list of exempt charities in Schedule 2 to the Charities Act 1993.
## **Principal Addresses**
The Platform The Engine Shed George Row University Dr Northampton Northampton NN1 1DF NN1 5PH
## **Trustees of the Charity**
The trustees who have served during the year and since the year end were as follows:
|**Name**|**Appointed**|**Resigned**|
|---|---|---|
|W. Irwin|13/11/2013||
|J. Corbett|06/12/2013|25/11/2021|
|I. Nagra|17/11/2016|31/08/2021|
|M. Storr|17/11/2016|31/10/2020|
|J. Coleman|14/03/2019|24/01/2022|
|Z. Pape|08/03/2019|07/03/2021|
|C. Doyle|16/03/2020|15/03/2022|
|A. Shahbaz|16/03/2020|15/03/2022|
|A. O. Basil|30/06/2020|30/06/2022|
|A. Khan|30/06/2020|30/06/2021|
|Y. Zhou|30/06/2020|30/06/2021|
|Y. Jiang|30/06/2020|30/06/2021|
|Z. Boyer|01/07/2021||
|N. Noonoottil Paul|01/07/2021|09/12/2021|
|B. Garrett|01/07/2021||
|G. Taylor|24/02/2021||
|M. A. Erumbadasseri|01/07/2022||
|M. Gilham|27/05/2021||
|P. Wood|27/05/2021||
|H. Templeman|27/05/2021||
|M. Chaudry|05/05/2022||
|S. A. Raveendran|19/10/2021||
**Full-time (Sabbatical) Officers** President Vice-President Education Vice-President Welfare and Activities
**Part-time (Sabbatical) Officers** Vice-President Postgraduate Research
**July 2021 July 2020** B. Garrett Samiullah B. Garrett Y. Zhou Z. Boyer Y. Jiang A.O. Basil A.O. Basil
**Auditors Bankers** Clifford Roberts, Santander UK Plc., Chartered Auditors, 2 Triton Square, Pacioli House, Regents Place, 9 Brookfield, London, Duncan Close, NW1 3AN Moulton Park, Northampton, NN3 6WL
3
## **The University of Northampton Students’ Union (UNSU) Annual Report and Accounts for the year ended 31[st] July 2021**
## **Key Management Personnel**
UNSU employs a Chief Executive to work closely with the Executive Officers and ensure effective management of the charity as head of a senior management team as follows: -
Chief Executive Head of Finance and Operations
R. Weston
L. Mobaraki (appointed 20/06/2022)
4
**The University of Northampton Students’ Union (UNSU) Annual Report and Accounts for the year ended 31[st] July 2021**
## **REPORT OF THE PRESIDENT FOR THE YEAR ENDED 31 JULY 2021**
The President presents their Annual Report for the year ended 31 July 2021, which includes the administrative information set out on page X and X, together with the audited accounts for that year.
## **Structure, governance and management**
UNSU is constituted under the Education Act 1994 as a charity with internal regulations or Rules approved by the governing body of The University of Northampton. UNSU’s Charitable Objects under the Act, to advance the University’s educational purposes by providing representation and support for the students of the University, are supplemented by the further Object of providing social, cultural, sporting and recreational activities, and forums for discussions and debate, for the personal development of its members.
UNSU is managed by the Board of Trustees (see above), Chaired by the President, one of four ‘sabbatical’ officers elected annually by cross-campus secret ballot of the UNSU membership. The Board of Trustees has delegated the day-to-day running of UNSU to the Chief Executive. Trustees receive an induction into their legal and administrative responsibilities, with an on-going training programme as and when needed for issues arising during their term of office.
UNSU’s representation and campaigning activity is led by its Executive Committee of 14 students, elected annually by cross-campus ballot. This includes the four posts of President, Vice President Activities and Welfare, Vice President Education, which are full-time ‘sabbatical’ post and the Vice President Post Graduate Research which is a part-time sabbatical post. These roles are remunerated as authorised by the Education Act and which cannot exceed two years duration for each holder. The four sabbaticals are automatically Trustees, and three additional elected students are charity trustees of UNSU for the purposes of the Charities Acts.
The Executive Committee meets regularly to receive reports from individual Officers, to review Officers’ activity and performance, and to discuss policy issues arising. UNSU also employs a number of non-student full-time staff to ensure continuity in the management of its many activities. Staff are accountable to the Chief Executive for the performance of their duties.
UNSU operates on democratic principles, with supervisory power vested in UNSU Student Council, which can veto decisions made by the Executive Committee, also propose and approve policy. The annual accounts are approved at the Annual General Meeting. UNSU Student Council is also responsible for holding the elected officers, both full- and part-time, to account. UNSU Student Council’s membership comprises all elected officers plus 27 elected Councillors from across the student body, and is quorate where at least 20 of the members are present, or 50% +1 of all elected Councillors (whichever is higher).
Pay and remuneration of key management personnel is determined by a remuneration committee including a mixture of executive and non- executive trustees.
The recruitment, appointment and training of new trustees is conducted by existing trustees.
## **Relationship with University of Northampton**
The relationship between the University and UNSU is established in the Regulations of the University and detailed in UNSU Rules approved by both organisations. UNSU receives a Block Grant from the University, and occupies one building owned by the University, where UNSU pays rent and other associated costs, and rents one building located in the town centre.
There is no reason to believe that this or equivalent support from the University will not continue for the foreseeable future, as the Education Act 1994 imposes a duty on the University to ensure the financial viability of its student representative body.
5
## **The University of Northampton Students’ Union (UNSU) Annual Report and Accounts for the year ended 31[st] July 2021**
## **Risk Management**
The Board of Trustees has examined the major strategic, business and operational risks faced by UNSU. A risk register has been established and is updated at least annually. Where appropriate, systems or procedures have been established to mitigate the risks the charity faces. Budgetary and internal control risks are minimised by the implementation of procedures for authorisation of all transactions and projects. Procedures are in place to ensure compliance with health and safety of staff, volunteers and participants on all activities organised by the Union. These procedures are periodically reviewed to ensure that they continue to meet the needs of the charity.
## **Aims, Objectives and activities**
The Board of Trustees have confirmed UNSU’s mission as ‘ _to help every student at the University of Northampton to have the best possible Higher Education experience’_ , with the following long-term aims:
- (i) by delivering support services to them, and by representing their interests;
- (ii) provide students with opportunities for personal development through our democratic structures, our volunteer programmes and our clubs and societies; and
- (iii) to employ students in roles throughout our provision, providing valuable opportunities to acquire new skills and get real work experience – increasing their employability for the future.
In pursuit of these aims for the public benefit, UNSU will ensure the diversity of its membership is recognised, valued and supported and has established departments and services for use by its members and to support its work with the University and other organisations on behalf of students. Executive Officers of UNSU sit on many University committees.
UNSU continues to represent the students of this University on relevant local, national and international issues by maintaining a high proportion of student representatives. In 2020/21 there were 396 elected Course Advocates (formally representatives) and 12 Faculty Advocates. All of our advocates represent the views of their peers to the University in accordance with the Representation Policy, sitting on Staff-Student Liaison Committee at programme level, meaning student voice is heard within our Faculty’s, building genuine staff-student partnership and local-level change.
To further enhance the student experience, UNSU attract students from all backgrounds to get involved in the Union, the University and the local community by actively promoting the benefits of volunteering in student-led activities.
When reviewing our objectives and planning our activities, we have given due consideration to the Charity Commission’s general and relevant supplementary guidance on public benefit.
## **Public Benefit**
All of our activities are undertaken to further our charitable purpose for the benefit of students at the University of Northampton. The Trustees have had regard to Charity Commission guidance on public benefit in section four of the Charities Act 2011. The main benefits which have arisen during the year from the organisation’s aims and objectives are detailed in the following sections.
## **Achievements and performance**
UNSU’s achieved the following published objectives for 2020/21, this is evidenced below:
- i. Despite the challenges of the Covid-19 pandemic, UNSU continues to offer a late-night venue for students that is safe, attractive, affordable to students, adds to the overall student experience, and operates within specific government restrictions relating to Covid-19.; _**The Platform continues to operate as a safe, student centred venue in the town Centre.**_
- ii. During the period, UNSU prioritised keeping student activity as open as possible, within specified government and University restrictions, ensuring that students can socialise and enjoy extracurricular activities to both aid their personal development and support their wellbeing during unprecedented times. _**Our activity was regularly reviewed and UNSU encouraged**_
6
## **The University of Northampton Students’ Union (UNSU) Annual Report and Accounts for the year ended 31[st] July 2021**
- iii. _**student leaders to reinvent their activities to keep them running and comply with guidance and legislation.**_
- iv. To provide activities to both staff and students, including an increased diversity of campaigns that promote, engage and sustain staff and student health and wellbeing and fully supported by the Welfare Sabbatical officer. _**20/21 saw campaign wins for additional exam sits, liberation campaigns and our “Night in on us” work to support student wellbeing in additional lockdowns.**_
- v. To continue to build a community presence on campus. A Union which is engaging, inclusive and the main place for students to relax and socialise. _**We continue to make head way on this, increasing our presence and activities to form a central hub for students to access their union and services.**_
- _**vi.**_ Use our experiences supporting students going though University appeals and disciplinary’s to reshape policy and approach, ensuring students have a better experience with ourselves, and with university processes. _**We continue to support students, with 400 active cases during this academic year.**_
## **Future plans**
We took the decision to pause the delivery of the Unions Strategic Plan for 20/21 as the changing context and student population meant that the historical ambition was not the same needed by our membership now. We devised a strategic plan for the 2021/24 academic year, with the key headlines being:
- Insight-Led- Our decisions and how we influence will be evidence-based, and changes will only be made when we have the best knowledge to inform our next move.
- We are investing in research both via human resource and outsourced activity to increase our understanding of our membership’s wants and needs in real time to help us support them directly and influence on their behalf
- Resilience- The world won’t stop changing and so we need to be ready to act and recover regardless. We’ll review and diversify our income sources and remove barriers to change so we’re supporting students and leading by example.
- We are reviewing our commercial services to ensure that we are offering the right services to our members and delivering a surplus to the charitable delivery.
- Agility- We’ll focus on ensuring we have the right capabilities, capacity and flexibilities within our structures, so the right decisions are made at the right time.
- We are conducting a governance review in the coming year to meet this objective.
## **Financial review**
UNSU’s consolidated gross income from all sources this year totalled £1,660,301. Total expenditure of £1,982,408 on the wide-ranging student benefits we provide within a broadly balanced budget, as well as on the modest fundraising and other revenue-generating activities we undertake, left a deficit for the year of £(322,107) decreasing UNSU’s total reserves from £2,727,361 to £2,405,254. Capital grant funds decreased from £2,443,652 to £2,044,868 in the year.
## Current free reserves stand at £270,517.
## **Custodian Activities: Clubs’ & Societies’ Funds and the annual RAG**
UNSU acts as custodian for funds raised by the students’ many Clubs and Societies themselves, amounting to £89,869 at the year-end, in addition to the grant-support funds it disburses to them as shown in the accounts. UNSU is also custodian of the annual RAG proceeds from fundraising events organised by the students under UNSU auspices for distribution to the intended charities. RAG paid out £745 of donation during the year resulting in a balance at the year-end on the fund of £8,902.
## **Future Funding**
The Executive Committee confirms that UNSU has sufficient funds to meet all its obligations. The Block Grant for 21/22 has been confirmed at £1,257,933
7
## **The University of Northampton Students’ Union (UNSU) Annual Report and Accounts for the year ended 31[st] July 2021**
## **Trustee Board’s Responsibilities**
Charity law and UNSU’s constitution require us as the charity trustees to prepare annual financial statements giving a true and fair view of the state of affairs of UNSU at its financial year-end and of UNSU’s income and expenditure for the year. In preparing those financial statements we are required to:-
- select the most suitable accounting policies and apply them consistently;
- make judgements and estimates that are reasonable and prudent;
- prepare the financial statements on a going concern basis unless it is not appropriate to presume that UNSU will continue in business.
We are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and enable us to ensure that the financial statements comply with charity law and the particular requirements of UNSU Student Council and the University under the Education Act 1994. We are also responsible for safeguarding the assets of the charity and ensuring their proper application in accordance with charity law, and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
In so far as the trustees are aware:
- There is no relevant audit information of which the charity’s auditors is unaware;
- The Trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditor is aware of the information.
. . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Beth Garrett _President_
Dated: 25[th] July 2022
8
**The University of Northampton Students’ Union (UNSU) Annual Report and Accounts for the year ended 31[st] July 2021**
## **Independent Auditor’s Report to the trustees of University of Northampton Students’ Union**
We have audited the financial statements of University of Northampton Students’ Union (the ‘parent charity’) and its subsidiaries (the ‘group’) for the year ended 31[st] July 2021 which comprise the Consolidated Statement of Financial Activities, Statement of Financial Activities, the Consolidated Balance Sheet, the Consolidated Cash Flow Statement and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).
In our opinion the financial statements:
- give a true and fair view of the state of the group’s and parent charity’s affairs as at 31[st] July 2021 and of the group’s its incoming resources and application of resources, including its income and expenditure, for the year then ended;
- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
- have been prepared in accordance with the requirements of the Charities Act 2011.
## **Basis for opinion**
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the group and parent charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
## **Conclusion relating to going concern**
We have nothing to report in respect of the following matters in relation to which the ISAs (UK) require us to report to you where:
- the trustees’ use of the going concern basis of accounting in the preparation of the financial statements is not appropriate; or
- the trustees have not disclosed in the financial statements any identified material uncertainties that may cast significant doubt about the group’s or parent charity’s ability to continue to adopt the going concern basis of accounting for a period of at least twelve months from the date when the financial statements are authorised for issue.
## **Other information**
The trustees are responsible for the other information. The other information comprises the information included in the trustees’ annual report, other than the financial statements and our auditor’s report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.
In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information; we are required to report that fact.
We have nothing to report in this regard.
9
## **The University of Northampton Students’ Union (UNSU) Annual Report and Accounts for the year ended 31[st] July 2021**
## **Matters on which we are required to report by exception**
We have nothing to report in respect of the following matters in relation to which the Charities (Accounts and Reports) Regulations 2008 require us to report to you if, in our opinion:
- the information given in the financial statements is inconsistent in any material respect with the trustees’ report; or
- sufficient accounting records have not been kept; or
- the parent charity’s financial statements are not in agreement with the accounting records; or
- we have not received all the information and explanations we require for our audit.
## **Respective responsibilities of trustees and auditor**
As explained more fully in the trustees’ responsibilities statement set out on page 8, the trustees are responsible for the preparation of financial statements which give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the trustees are responsible for assessing the group’s and parent charity’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the group or the parent charity or to cease operations, or have no realistic alternative but to do so.
## **Auditor’s responsibilities for the audit of the financial statements**
We have been appointed as auditor under section 151 of the Charities Act 2011 and report in accordance with regulations made under section 154 of that Act.
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
- We obtained an understanding of the legal and regulatory framework applicable to the company and the sector in which they operate. We determined that the following laws and regulations were most significant: the Companies Act 2006, UK Generally Accepted Accounting Practice and UK corporate taxation laws.
- We obtained an understanding of how the company is complying with those legal and regulatory frameworks by making inquiries to the management and by observing the oversight of management, the culture of honesty and ethical behaviour and whether strong emphasis is placed on fraud prevention, which may reduce the opportunities for fraud to take place, and fraud deterrence, which could persuade individuals not to commit fraud in the first instance . We corroborated our inquiries through our review of all relevant available audit information.
- We assessed and understood the susceptibility of the company's financial statements to material misstatement, including how fraud might occur. Based on this understanding we designed our audit procedures to identify non-compliance with such laws and regulations. The audit procedures performed by the engagement team included:
- Identifying and assessing the design and effectiveness of controls management has in place to prevent and detect fraud;
- Understanding of how senior management considered and addressed the potential for override of controls or other inappropriate influence over the financial reporting process;
- Challenging assumptions and judgements made by management in its significant accounting estimates;
10
## **The University of Northampton Students’ Union (UNSU) Annual Report and Accounts for the year ended 31[st] July 2021**
- Performing audit work over the risk of management override of controls, including testing of journal entries and other adjustments for appropriateness, evaluating the business rationale of significant transactions outside the normal course of business and reviewing accounting estimates for bias; and,
- Assessing the extent of compliance with relevant laws and regulations.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.
## **Use of Report**
This report is made solely to the charity’s trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charity’s trustees those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity’s trustees as a body, for our audit work, for this report, or for the opinions we have formed.
Clifford Roberts Chartered Accountants & Statutory Auditor Pacioli House 9 Brookfield Duncan Close Moulton Park Northampton NN3 6WL
Date 25[th] July, 2022
Clifford Roberts Chartered Accountants is eligible to act as auditors in terms of section 1212 of the Companies Act 2006.
11
## **The University of Northampton Students’ Union (UNSU) Annual Report and Accounts for the year ended 31[st] July 2021**
## **CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31[st] JULY 2021**
|**Note**
**_Income and endowments from:_**
**Voluntary Income:**
-Gifted Block Grant
-University Funding
**Activities to generate funds:**
NUS Extra
**Charitable activities for students:**
-Bars & Catering
-Retail
-Events
-Marketing
-Clubs & Societies
**Other income**
-Government grant
-Minibus
-RAG
-Heritage Lottery Fund
-Investment income
-Insurance income
**Total income**
**_Resources expended_**
**Charitable Activities for students:**
-Bars & Catering
-Retail
-Events
-Marketing
-Clubs & Societies
-Social Enterprise
-Advice & Representation
-Minibus
-RAG
-Heritage Lottery Fund
-Governance
**Total expenditure**
**Net incoming resources for the year**
Capital grant amortisation
Fund transfer
**Net movement in funds**
**Reconciliation of funds:**
Total funds brought forward
**Total funds carried forward**|**Unrestricted**
**income**
**Custodian**
**funds**
**Restricted**
**funds**
**Capital**
**Grants**
**Total**
**£**
-
-
-
**-**
**-**
1,257,933
-
-
-
**1,257,933**
-
-
-
**-**
**-**
95,123
-
-
**-**
**95,123**
25,280
-
-
**-**
**25,280**
-
-
-
**-**
**-**
3,516
-
-
**-**
**3,516**
5,950
14,027
-
**-**
**19,977**
256,414
-
-
**-**
**256,414**
-
-
-
**-**
**-**
-
-
-
**-**
**-**
-
-
-
**-**
**-**
58
-
-
**-**
**58**
2,000
-
-
**-**
**2,000**
1,646,274
14,027
-
-
**1,660,301**|**2020**
**Total**
**£**
90,075
1,337,710
7,013
383,468
96,080
72,262
14,774
40,874
25,000
8,000
3,242
14,430
1,622
-|
|---|---|---|
|||2,094,550|
||524,874
-
-
**-**
**524,874**
77,747
-
-
**-**
**77,747**
-
-
-
**-**
**-**
145,895
-
-
**-**
**145,895**
84,523
16,214
-
**-**
**100,737**
-
-
-
**-**
**-**
1,103,233
-
-
**-**
**1,103,233**
-
-
2,852
**-**
**2,852**
-
-
745
**-**
**745**
-
-
-
**-**
**-**
26,325
-
-
**-**
**26,325**
1,962,597
16,214
3,597
**-**
**1,982,408**
**(316,323)**
**(2,187)**
**(3,597)**
**-**
**(322,107)**
396,588
-
2,196
(398,784)
**-**
(5,950)
5,950
-
-
**-**
**74,315**
**3,763**
**(1,401)**
**(398,784)**
**(322,107)**
196,202
62,563
24,944
2,443,652
**2,727,361**
**270,517**
**66,326**
**23,543**
**2,044,868**
**2,405,254**|772,028
142,093
42,204
183,274
603,065
-
728,662
3,839
813
13,922
14,507|
|||2,504,407|
|||(409,857)
-
-|
|||(409,857)|
|||3,137,218|
|||2,727,361|
All income and expenditure derive from continuing activities. The statement of financial activities includes all gains and losses recognised during the year
The notes on pages 16 to 28 form part of these accounts
12
## **The University of Northampton Students’ Union (UNSU) Annual Report and Accounts for the year ended 31[st] July 2021**
|**INDIVIDUAL STATEMENT**
**Note**
**_Income and endowments from:_**
**Voluntary Income:**
-Gifted Block Grant
-University Funding
**Activities to generate funds:**
NUS Extra
**Charitable activities for students:**
-Bars & Catering
-Retail
-Events
-Marketing
-Clubs & Societies
-Social Enterprise
**Other income**
-Government grant
-Minibus
-RAG
-Heritage Lottery Fund
-Investment income
-Insurance income
**Total income**
**_Resources expended_**
**Charitable Activities for students:**
-Bars & Catering
-Retail
-Events
-Marketing
-Clubs & Societies
-Social Enterprise
-Advice & Representation
-Minibus
-RAG
-Heritage Lottery Fund
-Governance
**Total expenditure**
**Net incoming resources for the year**
Capital grant amortisation
Fund transfer
**Net movement in funds**
**Reconciliation of funds:**
Total funds brought forward
**Total funds carried forward**|**INDIVIDUAL STATEMENT**|**OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31st JULY 2021**
**Unrestricted**
**income**
**Custodian**
**funds**
**Restricted**
**funds**
**Capital**
**Grants**
**Total**
**£**
-
-
-
**-**
**-**
1,257,933
-
-
-
**1,257,933**
-
-
-
**-**
**-**
-
-
-
**-**
**-**
-
-
-
**-**
**-**
-
-
-
**-**
**-**
-
-
-
**-**
**-**
5,950
14,027
-
**-**
**19,977**
-
-
-
**-**
**-**
175,250
-
-
**-**
**175,250**
-
-
-
**-**
**-**
-
-
-
**-**
**-**
-
-
-
**-**
**-**
58
-
-
**-**
**58**
2,000
-
-
**-**
**2,000**
1,441,191
14,027
-
-
**1,455,218**
248,840
-
-
**-**
**248,840**
50,705
-
-
**-**
**50,705**
-
-
-
**-**
**-**
149,688
-
-
**-**
**149,688**
87,013
16,214
-
**-**
**103,227**
-
-
-
**-**
**-**
998,649
-
-
**-**
**998,649**
-
-
2,852
**-**
**2,852**
-
-
745
**-**
**745**
-
-
-
**-**
**-**
20,436
-
-
**-**
**20,436**
1,555,331
16,214
3,597
**-**
**1,575,142**|**2020**
**Total**
**£**
90,075
1,337,710
7,013
42,164
-
-
174
15,981
-
-
8,000
3,242
14,430
1,622
-|
|---|---|---|---|
||||1,520,411|
||||554,397
62,161
-
164,391
339,227
-
717,531
3,839
813
13,922
11,181|
||||1,867,462|
|||**(114,140)**
**(2,187)**
**(3,597)**
**-**
**(119,924)**
396,588
-
2,196
(398,784)
**-**
(5,950)
5,950
-
-
**-**
**276,498**
**3,763**
**(1,401)**
**(398,784)**
**(119,924)**
452,434
62,563
24,944
2,443,652
**2,983,593**
**728,932**
**66,326**
**23,543**
**2,044,868**
**2,863,669**|(347,051)
-
-|
||||(347,051)|
||||3,330,644|
||||2,983,593|
All income and expenditure derive from continuing activities. The statement of financial activities includes all gains and losses recognised during the year
The notes on pages 16 to 28 form part of these accounts
13
## **The University of Northampton Students’ Union (UNSU) Annual Report and Accounts for the year ended 31[st] July 2021**
## **CONSOLIDATED BALANCE SHEET AS AT 31[st ] July 2021**
|**Note**
**Fixed assets**
Tangible assets
**7**
**Current assets**
Stocks
**9**
Debtors
**10**
Cash at bank and in hand
**Current Liabilities**
Creditors: amounts falling due within one year
**11**
**Net current assets / (liabilities)**
**Net assets**
**_Representing Charitable Funds:-_**
**Capital Grant Fund**
Capital Grant
**14**
**Restricted Income/ Custodian Funds**
RAG Reserve
**15**
Club & Society Reserve
**16**
Minibus Reserve
**17**
Heritage Lottery Fund
**18**
**Unrestricted Income Funds**
Undesignated Fund
**19**
**Total charity funds**
**20**|**2021**
**2020**
**2021**
**2020**
**Group**
**Group**
**Charity**
**Charity**
**£**
**£**
**£**
**£**
**2,068,549**
2,483,097
**2,060,753**
2,472,709|
|---|---|
||**2,068,549**
2,483,097
**2,060,753**
2,472,709
**78,686**
74,920
**-**
-
**58,412**
211,899
**581,756**
590,145
**533,144**
156,800
**487,232**
97,086|
||**670,242**
443,619
**1,068,988**
687,231
**(333,537)**
(199,355)
**(266,072)**
(176,347)|
||**336,705**
244,264
**802,916**
510,884|
|||
||2,405,254
2,727,361
**2,863,669**
2,983,593|
||**2,044,868**
2,443,652
**2,044,868**
2,443,652
**8,902**
9,647
**8,902**
9,647
**66,326**
62,563
**66,326**
62,563
**11,842**
12,498
**11,842**
12,498
**2,799**
2,799
**2,799**
2,799|
||**89,869**
87,507
**89,869**
87,507|
||**2,134,737**
2,531,159
**2,134,737**
2,531,159|
||**270,517**
196,202
**728,932**
452,434|
||**270,517**
196,202
**728,932**
452,434|
||**2,405,254**
2,727,361
**2,863,669**
2,983,593|
## **Total charity funds**
The trustees have prepared group accounts in accordance with section 398 of the Companies Act 2006 and section 138 of the Charities Act 2011. These accounts are prepared in accordance with the special provisions of Part 15 of the Companies Act relating to small companies and constitute the annual accounts required by the Companies Act 2006 and are for circulation to members of the company.
## Approved on behalf of the **University of Northampton Students’ Union** on 25[th] July, 2022 by:
………………………………..
-President
……………………………….. -Trustee
The notes on pages 16 to 28 form part of these accounts
14
## **The University of Northampton Students’ Union (UNSU) Annual Report and Accounts for the year ended 31[st] July 2021**
## **CONSOLIDATED CASHFLOW STATEMENT FOR THE YEAR ENDED 31st July 2021**
|Note
**Cash flow from operating activities**
23
Interest paid
**Net cash flow from operating activities**
**Cash flow from investing activities**
Payments to acquire tangible fixed assets
Receipts from sales of tangible fixed assets
Interest received
Grant income received
**Net cash flow from investing activities**
**Cash flow from financing activities**
Receipts from issue of new long term loans
Repayment of long term loans
Repayment of finance lease liabilities
Interest paid
**Net cash flow from financing activities**
**Net increase in cash and cash equivalents**
**Cash and cash equivalents at 1st August 2020**
**Cash and cash equivalents at 31st July 2021**
**Cash and cash equivalents consists of:**
Cash at bank and in hand
Short term deposits
**Cash and cash equivalents at 31st July 2021**|**Group**
**Group**
**Charity**
**Charity**
**2021**
**2020**
**2021**
**2020**
**£**
**£**
**£**
**£**
376,361
139,854
390,163
88,095
-
-
-
-
376,361
139,854
390,163
88,095
(17)
(17,236)
(17)
(6,848)
-
1,918
-
1,918
-
-
-
-
-
-
-
-
(17)
(15,318)
(17)
(4,930)
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
376,344
124,536
390,146
83,165
156,800
32,264
97,086
13,921
533,144
156,800
487,232
97,086
533,144
156,800
487,232
97,086
-
-
-
-
533,144
156,800
487,232
97,086|
|---|---|
The notes on pages 16 to 28 form part of these accounts
15
**University of Northampton Students’ Union (UNSU) Annual Report and Accounts for the year ended 31[st] July 2021**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31[st] JULY 2021**
- **1 Summary of significant accounting policies**
## **(a) General information and basis of preparation**
University of Northampton Students’ Union is an unincorporated Charity in the United Kingdom established under the Education Act 1994. The address of the registered office is given in the charity information on page 3 of these financial statements.
The nature of the charity’s operations and principal activities are to support students at the university as they progress through their studies by providing guidance and support for educational needs; delivering welfare awareness campaigns; providing personal and team development opportunities, through sports clubs and other societies; and providing social space and activities.
The charity constitutes a public benefit entity as defined by FRS 102. 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) issued on 16 July 2014, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), and UK Generally Accepted Practice as it applies from 1 January 2015.
The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.
The financial statements are prepared in sterling which is the functional currency of the charity and rounded to the nearest £.
## **(b) Going concern**
The financial statements are prepared on a going concern basis as the charity receives the continued support of the University of Northampton.
## **(c) Group financial statements**
The financial statements consolidate the results of the charity and its wholly owned subsidiary Northampton Students’ Union Services Ltd on a line-by-line basis.
## **(c) Financial instrument**
The charity only has financial assets and liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are recognised at transaction value and subsequently measured at their settlement value.
## **(d) Incoming resources**
All income and capital resources are recognised in the Statement of Financial Activity (SOFA) when the Charity is legally entitled to the income and the amount can be quantified with reasonable certainty. The University grant of free serviced accommodation on the campus is accounted for as income and expenditure of the year at an estimated value to UNSU by reference to the alternatives available on the commercial market.
## **(e) Fund accounting**
**Unrestricted funds** are available for use at the discretion of the trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes.
**Designated funds** comprise unrestricted funds that have been set aside by the trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements.
**Restricted funds** are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the charity for particular purposes. The cost of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.
16
**University of Northampton Students’ Union (UNSU) Annual Report and Accounts for the year ended 31[st] July 2021**
## **1 Accounting Policies (continued)**
**Custodian funds** entrusted to UNSU for safekeeping, but not under its management control, eg, Clubs & Societies funds. Such custodian activities are disclosed in the financial statements.
## **(f) Expenditure recognition**
All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Expenditure is recognised where there is a legal or constructive obligation to make payments to third parties, it is probable that the settlement will be required, and the amount of the obligation can be measured reliably.
Irrecoverable VAT is charged as an expense against the activity for which expenditure arose. Charitable expenditure comprises the direct and indirect costs of delivering public benefit. Governance costs are those incurred for compliance with constitutional and statutory requirements. Such as the annual audit, annual elections, and training for sabbatical officers. The value of free serviced campus accommodation is apportioned on estimated floor space occupied. Other central overhead costs are apportioned to charitable and other projects/ activities on a usage basis, pro rata to the total costs of each project or activity undertaken.
## **(g) Support costs allocation**
Support costs are those that assist the work of the charity but do not directly represent charitable activities and include office costs and governance costs. They are incurred directly in support of expenditure on the objects of the charity. Where support costs cannot be directly attributed to particular headings, they have been allocated to cost of raising funds and expenditure on charitable activities on a basis consistent with use of the resources.
## **(h) Tangible fixed assets**
Tangible fixed assets are stated at cost (or deemed cost) less accumulated depreciation. The charity enforces a policy by which assets below the value of £2,500 cost per item/set will not be capitalised.
Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, of each asset on a systematic basis over its expected useful life as follows:
|Fixtures, fitting and equipment|- 25% straight line|
|---|---|
|Motor vehicles|- 25% straight line|
|Improvements to property|- 10% straight line|
Grant income for the purpose of purchasing fixed assets is netted off against the cost of the fixed asset in the financial statements.
## **(i) Stocks**
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing stock to its present location and condition. Cost is calculated using the first-in formula. Provision is made for damaged, obsolete, and slow-moving stock where appropriate.
## **(j) Debtors and creditors receivable / payable within one year**
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in expenditure.
17
**University of Northampton Students’ Union (UNSU) Annual Report and Accounts for the year ended 31[st] July 2021**
## **1 Accounting Policies (continued)**
## **(k) Impairment**
Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset’s cash generating unit, is estimated, and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.
## **(l) Government grants**
Government grants are recognised based on the accrual model and are measured at the fair value of the asset received or receivable. Grants are classified as relating either to revenue or to assets. Grants relating to revenue are recognised in income over the period in which the related costs are recognised. Grants relating to assets are recognised over the expected useful life of the assets. Where Grants are received or receivable with no performance related conditions they are recognised immediately to income.
## **(m) Tax**
The charity is an exempt charity within the meaning of schedule 3 of the Charities Act 2011 and is considered to pass the tests set out in Paragraph 1 Schedule 6 Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes.
## **(n) Leases**
Rentals payable under operating leases are charged as expenditure on a straight-line basis over the period of the lease.
## **(o) Pension costs**
The charity operates a defined contribution pension scheme. Contributions payable to the charity’s pension scheme are charged to the profit and loss account in the period to which they relate.
## **(p) Reserves**
Reserves should be at least £40,000, this being a sum large enough to provide a buffer against long term sickness absence but not large enough to unnecessarily hold funding back from delivering direct services to students. Due to the nature of the annual funding from the university it was not felt appropriate to adopt a ‘proportion of annual costs’ method. The reserves above £40,000 will be reinvested to support new projects.
Current Consolidated free reserves stand at £270,517 (2020: £196,202). Individual charity free reserves stand at £728,932 (2020: £452,434)
## **(q) Judgements and key sources of estimation uncertainty**
The following judgements (apart from those involving estimates) have been made in the process of applying the above accounting policies that have had the most significant effect on amounts recognised in the financial statements:
- Valuation of fixed assets
The key assumptions concerning the future and other key sources of estimation uncertainty at the reporting date that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year include:
- The continued support from the University of Northampton.
18
## **University of Northampton Students’ Union (UNSU) Annual Report and Accounts for the year ended 31[st] July 2021**
## **2 Income earned from other activities**
Government grant income was received in both the parent and subsidiary entity during the period in the form of furlough income and a local government grant. The total received furlough income of £181,308 is included within other income. The total received local government grant income of £75,106 is included within other income.
The consolidated statement of financial activities includes the results of the charity’s wholly owned subsidiary. The wholly owned trading subsidiary Northampton Students’ Union Services Limited is incorporated in the United Kingdom (company number 11487264) and operates the bars and café at the Platform site. A summary of the trading results is shown below.
The summary financial performance of the subsidiary alone is:
|Turnover
Cost of sales and administrative costs
Administrative expenses
Other operating income
Net profit/(deficit)
Amount gift aided to the charity
Retained in subsidiary
The assets and liabilities of the subsidiary were:
Fixed assets
Current assets
Current liabilities
Total net assets
Aggregate Share capital and reserves|**2021**
**£**
123,918
(143,084)
(279,181)
96,163|
|---|---|
||(202,184)
-|
||(202,184)
7,796
143,156
(609,367)|
||(458,415)|
||(458,415)|
## **3 Charitable and other Activity costs**
|**Charitable activities**
Bar and catering
Shops
Events
Marketing
Clubs & societies
Advice & representation
Governance|**2021**
**COS**
**Staff costs**
**Rent &**
**rates**
**Other**
**costs**
**Total**
**£**
**£**
**£**
**£**
**£**
126,521
110,463
22,347
265,543
524,874
44,433
16,363
3,310
13,641
77,747
-
-
-
-
-
-
30,705
6,212
108,978
145,895
-
17,788
3,599
63,136
84,523
-
541,863
109,620
451,750
1,103,233
-
5,540
1,121
19,664
26,325
170,954
722,722
146,209
922,712
1,962,597|**2020**
**Total**
**£**
772,028
142,093
42,204
183,274
551,136
728,662
14,507|
|---|---|---|
|||2,433,904|
Included in the above governance costs is the annual audit fee of £15,045 (2020: £11,750) covering the audit and consolidation of two entities.
19
## **University of Northampton Students’ Union (UNSU) Annual Report and Accounts for the year ended 31[st] July 2021**
## **4 Central Overhead Costs included in Note 2**
|**Comm**
**Usage**
**Usage**
**Charitable activities**
**%**
**%**
Bar and catering
87%
15%
Shops
13%
2%
Events & security
0%
0%
Marketing
-
4%
Clubs & societies
-
3%
Advice & representation
-
75%
Governance
-
1%
**Totals**|**Staff**
**Rent &**
**Rates**
**Other**
**Total**
**£**
**£**
**£**
**£**
110,463
22,347
92,094
224,904
16,363
3,310
13,641
33,314
-
-
-
-
30,705
6,212
25,598
62,515
17,788
3,599
14,830
36,217
541,863
109,620
451,749
1,103,232
5,540
1,121
4,619
11,280|
|---|---|
||722,722
146,209
602,531
1,471,462|
The charity accounts for gifted services based on a reasonable estimate of the external cost of those services. Costs are apportioned according to the usage as detailed above and is shown as income on the summary of Financial Activities. In the current year there were no gifted services.
|Other Costs comprised: -
Depreciation
Agency staff
Insurance
Telephone
Legal & professional
Printing & stationery
Finance charges
Sundry expenses
IT Costs
Training
HR Costs
Unrecoverable VAT
**5**
**Staff Costs**
Wages and salaries
Student labour
Social security
Pension costs|**£**
380,400
13,091
30,035
1,419
22,781
758
38,758
53,771
9,135
19,342
5,301
27,740
602,531|**2021**
2020
**£**
£
**611,123**
627,287
**13,365**
87,592
**52,393**
47,765
**59,206**
60,263
**736,087**
822,907|
|---|---|---|
During the year there was an average of 26 (2020: 28) members of staff. There were no employees of the Charity whose total emoluments exceeded £60,000.
|The average staffing was as follows: -
Commercial Activities
Administration and Services
Sabbatical Officers
Student staff|**2021**
**6**
**16**
**4**
**0**
**26**|2020
7
18
3
0
28|
|---|---|---|
20
## **University of Northampton Students’ Union (UNSU) Annual Report and Accounts for the year ended 31[st] July 2021**
|**6**|**Trustees’ Remuneration and Expenses**|**Trustees’ Remuneration and Expenses**|||||
|---|---|---|---|---|---|---|
||||||**Total**|Total|
||Name|Salary &|Pension|Expenses|**2021**|2020|
|||NIC|||||
|||£|£|£|**£**|£|
||R. Bradshaw|-|-|-|**-**|21,502|
||G. Lovegrove|-|-|-|**-**|22,357|
||J. Coleman|12,675|1,167|-|**13,842**|165|
||A. O. Basil|10,379|1,019|-|**11,398**|1,080|
||Z. Zhou|13,926|1,321|-|**15,247**|1,176|
||Y. Jiang|13,926|1,321|-|**15,247**|1,176|
||C. Van Loo|-|-|-|**-**|13,801|
||K. Baker|-|-|-|**-**|22,527|
||A. Khan|20,139|1,867|-|**22,006**|-|
||N. Noonoottil Paul|2,097|193|-|**2,290**|-|
||Z. Boyer|2,097|193|-|**2,290**|-|
||B. Garrett|2,097|193|-|**2,290**|-|
||Total|77,336|7,274|-|**84,610**|83,784|
During the year sabbatical officers Y. Jiang, Y, Zhou and A.O. Basil stepped down and were replaced by N. Noonoottil Paul, Z. Boyer and B. Garrett. Each of the Executive Committee’s sabbatical officers receive a salary as authorised in the Union’s governing document, for the representation, campaigning and support work they undertake as distinct from their trustee responsibilities. This work includes voicing student opinion with the institution and local community, defending and extending the rights of students through petitions, discussions with MPs and organising and supporting student volunteers and service provisions for them. The total salary costs for the sabbatical officers amounted to £70,768. All trustees not analysed above did not received remuneration or expenses during the year.
## **7 Tangible Fixed Assets**
Consolidated Tangible Fixed Asset Register:
|**Cost or valuation:**
At 31stJuly 2020
Additions
Disposals
**At 31st July 2021**
**Depreciation:**
At 31stJuly 2020
Charge for the year
Eliminated on disposals
**At 31st July 2021**
**Net book value:**
**At 31st July 2021**
At 31stJuly 2020|**Improvements**
**to property**
**Fixtures,**
**fittings and**
**equipment**
**Motor**
**Vehicles**
**Total**
**£**
**£**
**£**
**£**
3,014,301
462,759
8,771
3,485,831
-
16
-
16
-
-
-
-|
|---|---|
||**3,014,301**
**462,775**
**8,771**
**3,485,847**|
||726,156
272,759
3,819
1,002,734
301,464
110,904
2,196
414,564
-
-
-
-|
||**1,027,620**
**383,663**
**6,015**
**1,417,298**|
|||
||**1,986,681**
**79,112**
**2,756**
**2,068,549**|
||2,288,145
190,000
4,952
2,483,097|
21
## **University of Northampton Students’ Union (UNSU) Annual Report and Accounts for the year ended 31[st] July 2021**
Individual charity’s Tangible Fixed Asset Register:
|**Cost or valuation:**
At 31stJuly 2020
Additions
Disposals
**At 31st July 2021**
**Depreciation:**
At 31stJuly 2020
Charge for the year
Eliminated on disposals
**At 31st July 2021**
**Net book value:**
**At 31st July 2021**
At 31stJuly 2020|**Improvements**
**to property**
**Fixtures,**
**fittings and**
**equipment**
**Motor**
**Vehicles**
**Total**
**£**
**£**
**£**
**£**
3,014,301
452,371
8,771
3,475,443
-
16
-
16
-
-
-
-|
|---|---|
||**3,014,301**
**452,387**
**8,771**
**3,475,459**|
||726,156
272,759
3,819
1,002,734
301,464
108,312
2,196
411,972
-
-
-
-|
||**1,027,620**
**381,071**
**6,015**
**1,414,706**|
|||
||**1,986,681**
**71,316**
**2,756**
**2,060,753**|
||2,288,145
179,612
4,952
2,472,709|
All assets are used within the Charity for the benefit of the charitable purpose.
## **8 Investments**
The charity has one wholly owned subsidiary company being, Northampton Students’ Union Services Limited. This company is ‘limited by guarantee’, the guarantor being the Charity. The activities and results of this company is summarised in note 2.
## **9 Stocks**
|Stock|**Group**
**Group**
**Charity**
**Charity**
**2021**
**2020**
**2021**
**2020**
**£**
**£**
**£**
**£**
78,686
74,920
-
-
78,686
74,920
-
-|
|---|---|
The amount of stock recognised in the profit & loss as an expense during the year was £142,805.
22
## **University of Northampton Students’ Union (UNSU) Annual Report and Accounts for the year ended 31[st] July 2021**
## **10 Debtors**
|Trade debtors
Other debtors
Prepayments and accrued income|**Group**
**Group**
**Charity**
**Charity**
**2021**
**2020**
**2021**
**2020**
**£**
**£**
**£**
**£**
13,793
48,525
6,564
10,962
26,835
143,448
559,317
559,257
17,784
19,926
15,875
19,926
58,412
211,899
581,756
590,145|
|---|---|
## **11 Creditors: Amounts falling due within one year**
|Trade creditors
Accruals & deferred income
Other creditors|**Group**
**Group**
**Charity**
**Charity**
**2021**
**2020**
**2021**
**2020**
**£**
**£**
**£**
**£**
88,869
14,229
28,385
8,132
222,469
158,595
218,187
141,685
22,199
26,531
19,500
26,530
333,537
199,355
266,072
176,347|
|---|---|
## **12 Operating Lease Commitments**
Total future minimum lease payments under non-cancellable operating leases are as follows:
|Within one year
Between one and five years
Five plus years|**Group**
**Group**
**Charity**
**Charity**
**2021**
**2020**
**2021**
**2020**
**£**
**£**
**£**
**£**
208,800
208,800
208,800
208,800
310,200
460,200
310,200
460,200
1,293,600
1,352,400
1,293,600
1,352,400
1,812,600
2,021,400
1,812,600
2,021,400|
|---|---|
The charity is committed to two operating leases for the rental of property in Northampton town centre which is used as The Platform Club and the Engine shed based on the campus. Lease payments recognised as expense in the current year total £178,800.
## **13 Deferred income**
|At 1stAugust 2019
Additions during the year
Amounts released to income
At 31stJuly, 2020
Additions during the year
Amounts released to income
**At 31st July 2021**|**Under 1 year**
**Total**
**£**
**£**
-
-
-
-
-
-|
|---|---|
||-
-
26,667
26,667
-
-
26,667
26,667|
Income for the 12-month period from August 21 in relation to SU support services has been recognised as deferred income. The provision will be released evenly over the 12-month period. There was no deferred income in the prior year.
23
## **University of Northampton Students’ Union (UNSU) Annual Report and Accounts for the year ended 31[st] July 2021**
## **14 Capital Grant Fund**
|At 1stAugust 2020
Funding for capital expenditure
Amortisation
**At 31st July 2021**|**Group**
**Group**
**Charity**
**Charity**
**2021**
**2020**
**2021**
**2020**
**£**
**£**
**£**
**£**
2,443,652
2,902,933
2,443,652
2,902,933
-
-
-
-
(398,784)
(459,281)
(398,784)
(459,281)
2,044,868
2,433,652
2,044,868
2,433,652|
|---|---|
The capital grant fund is a designated fund. The fund is to be used for improvement to the student union properties at the discretion of the trustees.
|**15 RAG Fund**
Funds held at 1stAugust 2020
Funding received
Fundraising costs
Contribution to administration costs
Donations paid
**Funds held at 31st July 2021**|**Group**
**Group**
**Charity**
**Charity**
**2021**
**2020**
**2021**
**2020**
**£**
**£**
**£**
**£**
9,647
7,218
9,647
7,218
-
3,242
-
3,242
-
-
-
-
-
-
-
-
(745)
(813)
(745)
(813)
8,902
9,647
8,902
9,647|
|---|---|
The RAG fund (raising and giving fund) is a restricted fund for the raising and donation of money for charitable purposes.
|||Brought|Income|||Carried|
|---|---|---|---|---|---|---|
|||Forward|for Fund|Expenditure||Forward|
|**16**|**Student Society/Club**||(including||||
||**_material_funds held were:-**||reserve||||
||||transfer)||||
|||**£**|**£**|**£**||**£**|
||**_Clubs:_**||||||
||American Football|1,938|-||-|1,938|
||Archery|(141)|-||(9)|(150)|
||Badminton|(55)|55||-|-|
||Boxing|(497)|697||-|200|
||Cheerleading|1,277|151||-|1,428|
||Cricket|547|-||-|547|
||Dance|1,592|5,251|(1,693)||5,150|
||Futsal Club|(161)|161||-|-|
||Equestrian|(2,094)|6,274|(600)||3,580|
||Jitsu|(429)|429||-|-|
||Judo|1,052|-|(1,052)||-|
||Men’s Basketball|(35)|35||-|-|
||Men’s Football|120|539|(144)||515|
||Men’s Hockey|(143)|143||-|-|
||Men’s Rugby League|247|200|(455)||(8)|
||Men’s Rugby Union|(1,131)|1,131||-|-|
||Men’s Volleyball|597|-||-|597|
||Netball|1,194|-|(495)||699|
||Pool Sports Club|101|31||(31)|101|
||Rounders|(47)|229||-|182|
||Rowing|3,071|-|(3,071)||-|
||Snow Sports|2,293|149||-|2,442|
||Squash|2,236|-||-|2,236|
||Swimming|1,096|-|(228)||868|
||Table Tennis|(1,650)|1,650||-|-|
24
|**University of Northampton Students’ Union (UNSU)**|**University of Northampton Students’ Union (UNSU)**|**University of Northampton Students’ Union (UNSU)**|||
|---|---|---|---|---|
|**Annual Report and Accounts**|||||
|**for the year ended 31st July 2021**|||||
|Tennis|4,426|-|(1,650)|2,776|
|Trampolining|1,417|-|-|1,417|
|Wheelchair Basketball|3,017|-|-|3,017|
|Women’s Cricket|400|-|(400)|-|
|Women’s Football|1,376|-|(321)|1,055|
|Women’s Hockey|531|840|(621)|750|
|Women’s Lacrosse|3,135|-|-|3,135|
|Women’s Rugby Union|2,889|-|(309)|2,580|
|Women’s Volleyball|156|-|-|156|
|**Clubs sub-total**|28,325|17,965|(11,079)|35,211|
|**_Societies:_**|||||
|ACC First Love|638|-|-|638|
|Afro-Caribbean Society|1,161|-|-|1,161|
|Airsoft Society|3,392|2,600|(540)|5,452|
|Anime Society|3,445|-|-|3,445|
|Art|(350)|460|-|110|
|Believers Loveworld|633|270|(633)|270|
|Bio Science|20|44|-|64|
|The Book Society|-|80|(44)|36|
|Chinese Society|1,268|-|-|1,268|
|Christian Union Society|(148)|78|(198)|(268)|
|Climbing Society|1,783|-|(1,783)|-|
|Corium Club|2,225|-|-|2,225|
|Creative Thinkers FKA Change|185|-|(185)|-|
|Creative Craft|-|71|-|71|
|Disney Society|934|193|(89)|1,038|
|Doctor Who Society|1,798|-|-|1,798|
|Early Years Society|350|-|-|350|
|E-Gaming Society|1,599|-|-|1,599|
|English Literature and Creative Writing|-|20|-|20|
|Environmental Society|339|140|(339)|140|
|First Love NUCC|1,011|-|-|1,011|
|Game Changers|583|-|(583)|-|
|Gathered Voices|86|-|(86)|-|
|Geography Society|1,036|120|-|1,156|
|Hindu Society|-|20|-|20|
|History Society|510|460|(941)|29|
|Islamic Society|9|-|(9)|-|
|Law Society|(348)|9|-|(339)|
|LGBT Society|770|144|(144)|770|
|MBA (Masters of Business Admin)|1,148|-|(1,148)|-|
|Meditation|2,213|-|(2,213)|-|
|Midwifery|405|501|-|906|
|Musical Theatre|40|-|(40)|-|
|Night Owls|270|-|(270)|-|
|Northampton Investment (NIS)|1,801|-|(1,801)|-|
|Student Action for Refugees (STAR)|-|40|-|40|
|Pensa|421||(30)|391|
|Pole Fitness|(2,095)|6,592|(784)|3,713|
|Podiatry Society|1,060|115|(1,290)|(115)|
|Political Debate|356|-|(651)|(295)|
|Real Talk Society|400|-|(400)|-|
|Romanian|1,208|-|-|1,208|
|Radio Waterside|550|-|-|550|
|Tourism|495|-|(495)|-|
|UoN Bass Society|(59)|-|-|(59)|
|Nursing|2,307|2,988|(3,077)|2,218|
|UoN Music|571|-|(571)|-|
|Vegan Social Club|194|-|-|194|
25
|**University of Northampton Students’ Union**|**University of Northampton Students’ Union**|**University of Northampton Students’ Union**|**(UNSU)**|**(UNSU)**||
|---|---|---|---|---|---|
||**Annual Report and Accounts**|||||
||**for the year ended 31st July 2021**|||||
|Vietnamese Society|40||260|-|300|
|The World|(16)||16|-|-|
|**Societies sub-total**|34,238|15,221||(18,344)|31,115|
|**Total**|62,563|33,186||(29,423)|66,326|
Student/club funds are custodian funds. The balances are the money held by the student union on behalf of the club/ society to be used at to be used at their discretion.
## **17 Minibus Reserve**
|At 1stAugust 2020
Income
Expenditure
**Balance at 31st July 2021**|**Group**
**Group**
**Charity**
**Charity**
**2021**
**2020**
**2021**
**2020**
**£**
**£**
**£**
**£**
12,498
6,141
12,498
6,141
-
8,000
-
8,000
(656)
(1,643)
(656)
(1,643)
11,842
12,498
11,842
12,498|
|---|---|
The minibus reserve is a restricted fund. The fund is restricted to the cost of shuttle services on university grounds.
## **18 Heritage Lottery Fund**
|At 1stAugust 2020
Income
Expenditure
**Balance at 31st July 2021**|**Group**
**Group**
**Charity**
**Charity**
**2021**
**2020**
**2021**
**2020**
**£**
**£**
**£**
**£**
2,799
2,291
2,799
2,291
-
14,430
-
14,430
-
(13,922)
-
(13,922)
2,799
2,799
2,799
2,799|
|---|---|
The Heritage Lottery Fund is a restricted fund. The fund is restricted to the cost of fitting out the new student Union building.
## **19 Unrestricted Funds**
|At 1stAugust 2020
Income
Expenditure
Capital grant amortisation
Fund transfers
**Balance at 31st July 2021**|**Group**
**Group**
**Charity**
**Charity**
**2021**
**2020**
**2021**
**2020**
**£**
**£**
**£**
**£**
196,202
120,124
452,434
313,550
1,646,274
2,066,261
1,441,191
1,492,122
(1,962,597)
(2,433,904)
(1,555,331)
(1,796,959)
396,588
457,085
396,588
457,085
(5,950)
(13,364)
(5,950)
(13,364)
270,517
196,202
728,932
452,434|
|---|---|
The unrestricted funds are funding available for use in general Students’ Union activities at the discretion of the trustees.
26
## **University of Northampton Students’ Union (UNSU) Annual Report and Accounts for the year ended 31[st] July 2021**
|**20**
**Analysis of Group**
Fixed Assets
Net current assets
Long term liabilities|**Net Assets between Funds**
Unrestricted
Funds
Custodian
Funds
Restricted
Income Funds
Capital Grant
Fund
**Total**
£
£
£
£
**£**
23,681
-
-
2,044,868
2,068,549
246,836
66,326
23,543
-
336,705
-
-
-
-
-
270,517
66,326
23,543
2,044,868
2,405,254|
|---|---|
## **Analysis of Group Net Assets between Funds – Previous Year**
|Fixed Assets
Net current assets
Long term liabilities|Unrestricted
Funds
Custodian
Funds
Restricted
Income Funds
Capital Grant
Fund
**Total**
£
£
£
£
**£**
39,445
-
-
2,443,652
2,483,097
156,757
62,564
24,943
-
244,264
-
-
-
-
-
196,202
62,564
24,943
2,443,652
2,727,361|
|---|---|
## **21 Related party Transactions**
During the year transactions with related parties have all been in the normal course of business and carried out under normal market conditions. There are no disclosable related party transactions for the year ended 31st July 2021.
## **22 Control Relationship**
Ultimate control of UNSU rests with its members, represented by UNSU Student council.
## **23 Reconciliation of net income to net cash flow from operating activities**
|Net expenditure for year ended 31stJuly
2021
Depreciation and impairment of tangible fixed
assets
Profit/ loss on disposal of tangible fixed
assets
(Increase) in stock
(Increase) in debtors
Increase in creditors
Net cash flow from operating activities|**Group**
**Group**
**Charity**
**Charity**
**2021**
**2020**
**2021**
**2020**
**£**
**£**
**£**
**£**
(322,107)
(409,857)
(119,924)
(347,051)
414,564
412,031
411,972
412,031
-
58,580
-
58,580
(3,766)
12,820
-
46,891
153,487
37,836
8,389
(113,924)
134,183
28,444
89,726
31,568
376,361
139,854
390,163
88,095|
|---|---|
27
## **University of Northampton Students’ Union (UNSU) Annual Report and Accounts for the year ended 31[st] July 2021**
## **24 Financial instruments**
There are only basic financial instruments present in the accounts in the year ended 31[st] July 2021 and 31[st] July 2020.
All income and expenditure is carried out in Sterling eliminating any foreign currency risk. The majority of income is either grant income or cash income. As a result the credit risk is minimal. The entity relies heavily on funding from the university to carry out its day-to-day activities posing a financial risk. However, this is partly mitigated by the confirmation from the university that it will continue to support this entity over the coming 12 months.
28