Aegirtered Company numbèr: 07695765 IEn8land and Wales)
Re8lStered Charity numbèr: 1147242
CONSOLIDATED FINANCIAL STATEMENTS
FOR
UNIVERSITY OF SUSSEX STUDENTS, UNION
{LIMITED BY GUARANTEE)
FOR THE YEAR END 31 JULY 2022
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COMPANIES HOLISE
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UNIVERSITY OF SUSSEX STUDENTS, UNION (LIMITED BY GUARANTEEI
LEGAL AND ADMINISTRATIVE INFORMATION
Trustees
Nera Cornell. Officer
Riko Kunisue. Officer
Rose Linehan. Officer
Liam Pem. Officer
Niamh Tickner. Officer
Aaron Williams. Officer
Muthoni Kahuho. Student
Amelia Mcmahan. Student
Jatob Whitear, Student
Billy Bryan, External
Helen Hoogewerf-mccomb, External
Cameron Joshi. External
Charity Number
1147242
Company Number
07695765
Re8istered Office & Principal Address
Falmer House
University of Sussex
Brighton
East Su55ex
BN19QF
Auditors
TCGroup
The Courtyard
Shoreham Road
Upper 8eeding
Steyning
West Sussex
BN44 3TN
Bank
Barclays Bank PIC
77 South Road
Haywards Heath
West Sussex
RH164LB

UNIVERSITY OF SUSSEX STUDENTS, UNION (LIMITED BY GUARANTEE)
CONTENTS
Page
Trustees, Report Ilncorporating Dirertors Report)
Statemeni of Trusiees, Responsibilities
Report of the Independent Auditors
io
Consolidated Statement of Financial Activities
14
Consolidated Balance Sheet
15
Charity Balance Sheet
16
Consolidated Cash Flow Statement
17
Notes to the Financial statements
18

UNIVERSITY OF SUSSEX STUDENTS, UNION (UMITED BY GUARANTEE)
TRUSTEES, REPORT {INCORPORATING THE DIRE￿ORs REPORT)
FOR THE YEAR ENDED 31 JULY 2022
The Trustees present their annual report together with the audited financial statements of the Universily of Sussex
Students, Union for the year to 31 July 2022. The Tru5tee5 confirm that the Annual report and financial statements of
the charitable company and Broup complywith the current statutory requirement5, the requirements of the charrtable
company's governing ¢Jocument and the provisions of the Statement of Recommended Proctice ISORPI applicable to
charities preparing thetr accounts in accordance with the Financial Reporting Standard applicable in the UK ènd
Republic of Ireland IFR51021 leffertive l January 20191.
Strurture, govemance and management
Articles of association
The Students, Union is a company limited by guarantee and a registered charity.
Method of appointment or elertlon of trustee5
Under the Article5 of Association there are 12 trustees= six full-time 'sabbatical' officers Iwho are either recent
graduates or intermittent students): three student trustees. and three lay irvstees appointed by the 8oard for their
specialist knowledge, profe55ional exper*nce and independent expertise. The Sabbatical Officers are elected by cross-
campus ballot of Union members each spring and hold office for the following academic year. with the possibility of
re-election for one further year. The three sludent trustees are also elected by cross-campus ballot in spring and hold
office for one year. also with the possibilityof re-election forone furtheryear if they are still a student atthe Universltv.
Policies adopted for the induction and training of trustees
All sabbatical trustees had two weeks, of training before taking office with ongoing learning and development
opportunities throughout the year once in office. This included a one week online intensive with an external trainer.
The initial training covered basic governance and representation principles. such as legal requirements, constitutional
protocols and lobbying. It also included shadowingthe outgoing officers in their day-lo-day activities where applicable
although the majorily of the sabbatical trustees had been elected to hold office for J setontl year. Student trustees
were trained at the beginnirng of the academic year once in office on ihe basic governance and legal requirements of
their role along with how to read and understand financial information.
Organisation strurture and decision making
The trustee board is responsible for the 8o¢xI governance of the Students, Union. The overall policy of the Union is
made by quorate Members Meetings or Referenda open to all members. Lapsed poliry is reviewed by the members
of the Union Council that conslsts of approximately 35 elected and representative students. The Union Council also
maintains the Rule5 Ihat govern the Students. Union.
The Trustee Board delegates most other decision making to the following cornmittees..
Finance & Risk Committee
People & Pay Committee
Democracy & Constrtution Committee
Communications Committee
Equality, Diversity & Inclusion Committee
Executive Committee
As well as dealing with policy and rule changes the UnÈon Council is also responsible for representation and democratic
accountability. The following sub-committee5 report to Council:
Sports Reps Committee
Societies Committee
Student Media Committee
Sustainability Committee
International Students Committee

UNIVERSITY OF SUSSEX STUDENTS. UNION (LIMITED BY GUARANTEE)
TRUSTEES, REPORT (INCORPORATING THE DIRE￿ORs REPORT)
FOR THE YEAR ENDED 31 JULY 2022
Going Concern & Financial Management
From the onset of the year we were rebuilding our services within the Union and its Trading subsidiary. while
monitoring and mitigatin8 the adverse effect5 left over from the pandemic. These included reducing activity-related
Costs. closely monitoring expenditure and driving income where possible. Throughout this we continued to provide
advice. support and representation to our membership. We also managed to provide most of our activities and
services fate-to-face as restrictions allowed. and ensured compliance with Government advice on health and safety
measures across all of our activities and premises. Where appropriate. we operated a hybrid face-to-face and virtual
approach to services. Our commercial servi￿5 continued to support the campus community with the Co-op and
Falmer Bar open throughout. A pragmatic approach was taken with the Union Shop and the decision was made lo
elose from May onward. in line with the start of the as5e5sment period when footfall on campus was vastly reduced.
This allowed for work to be undertaken for the successful build and launch of 'the Union.
the Students. Uniorn
dedicated merchandise store as part of the new Student Centre at the heart of camw5.
The biggest area of concern for ihe tm5tees continued to be the sustainability of the Union's trading subsidiary. In
20121 the support from grants, insurance claims and the QRS left the Trading Company in a good posltion to build
upon after the pandemic. While the Tradin8 Company provided a small Surplus for the 21122 financiol year. this is still
an area of concern due to the post pandemic Uncertainty that still prevails in terms of rising supplier costs and their
unpredictable nature, but also of the footfall on carnpus which has not gone back to pre pandemic leve15. Having said
that, trading patterns have started to emerge, which the Trading company will be able to build on.
The Board of Directors of the irading company continue to monrtor the situation and have put in place an action plan
to ensure that the company remains solvent going into the next financial year1221231 when a more normal level of
tradinB activity should resume.
The Union requested an additional £207k from the University for 22123 to match-fund £207K to be taken from the
USSU reserves. This enabled the USSU reserves poliry to be maintained while not going into a negative cash position,
and to continue all the services currently provided by the USSU during the UniversitvlUSSU partnership review.
Match funding also protetted the Vnion against an uncertain year whilst providing financial scope to implement
potential changes resulting from the review. Following discussions with the Unwersity, they agreed a one-off £200K
emergency payment conditional upon no trading deficit and a financial plan being presented as part of next year's
bud8et planning process.
It is the belief of the trustees that both the charity and its trading subsidiary remain going concerns.
Risk Managemenl
The trustees have also asse55ed the major long-term risks to which the Union is exposed, and in particular have
highli8hted those related to..
l. The effects of the pandernit on the commercial viability of the orBanisation's trading subsidiary and its ability
to continue to contribute to the finances of the charrty..
The Union's financial reliance on the reducing core funding from the unNersity:
3. Our IT infrastructure and support-
Reserve levels and cash flows,-
The relationship with the parent institution and our ability to act as a critical friend and affect meaningful
change,.
6. The loss of key staff acr055 the organisation and the difficulty we are facing in recruitment and retention and
staff dissatisfaction with current salaries and workload.
The threat to the Union's representational legitimacy by the UnNers[￿S alternative student engagement
programme and a negative perception of the Union relating to the effectivene55 of the Student5, Union and
115 officers-
8. The low levels of volunteer engagement in Union democratic activities-

UNIVERSITY OF SUSSEX STUDENTS, UNION (LIMITED BY GUARANTEE)
TRUSTEES, REPORT (INCORPORATING THE DIRECTORS REPORT)
FOR THE YEAR ENDED 31 JULY 2022
As a result the Union is undertaking a programme of work to help mitigate these risks. These include:
l. Constanl monitoring and reviewing the performance of each outlet.. controlling costs and It)oking to extend
existing contracts and lookin8 for new opportunities.
Review of the funding process with the University to ensure alignment of the Unlon's funding with kev
strategic priorilies. This forms part of a governance review commissioned to be undertaken in 2022123.
3. Put in place a new Digital Plan. Invest in more internal and external IT Staff support along with new hardware
and moving more core operations to cloud based solution5.
4. To review the University's and Su's working relationship in partnership and agree a new Memorandum of
Understanding between the two or@anisations as part of a governance review to be carried out by
Counterculture in 2022123 and jointly sponsored by LISSV and the Universlty.
5. Review of salary structures and recruitment policies to better control costs. to increase salaries for lower paid
staff by moving towards a real living wage. Ensure that areas of key risk are properly resourced lor out50urcedl
and operating effective￿. Pul in place an annual L&D plan to increase staff 5alisfaction and knowledge.
6. Conduct a governance review to improve our representative and democratic engagement with students
ensuring that feed.in and feedback pro¢esse5 are further developed and our communication5 become more
student-focu5sed.
7. Review our democratic processes. increasing support and the responsibilities of student-led committees and
our elerted representatives.
With this work undertaken and measures put in place the trustees believe that all known risks are being managed
adequately in order to allow the Union to meet its charitable objettives.
Objectives and Activities
Ourobjects
The Union's objects Ithe"Objects"I, as detailed in its constttution, is the advan￿ment of education of students at the
University of Sussex for the public benefit, we deliver this through=
The Studenl Voice and Engagement teams defend and promote the interests of students at the University of
Sussex an(J BSMS. They operate an advice and advocacy Servi￿ providing individual advite and advocacy as
well as facilitating collertive student representation through campaignin& lobbying, training. research and
briefings for officers and the Student Rep scheme. It also ensure5 that our democratic systeffls are functioning
and effective as well a5 facilitJtinE our en8agement work within the local community.
2. The Activities and Events department provides organised sporting opportunities and facilitates special
interest, student run societies and Efoup5. The department also supports a student Buddy Scheme, Language
Café. We provide student run space to faciliiate student debate and discussion and act as a platform for social
action. liberation and political activity. Together with student groups the Events Team also provides various
key events throughout the university and cultural calendar and general entertainment all of which serves io
improve the student experience.
3. Student Media has many outlets facilitated by the Union, including TV. radio and print media, and has a large
online presence both with websites and on social media.
4 Sussex Student Lettings was run foi the benefit of students. ensurin8that only good quality, reasonably priced
housing is available in our agency. In 2022123. we shall review rfthis is the mosi vièble wayto support students
with viable and alfordable housing. When reviewed due to changes in staffing and legislation which made this
project commertially unviable. Ihe service ceased trading on the 31st january 2023.
5. Commercial Trading services operate on campus licensed social venue5 and retail outlets. These operations
provide e5sentsal services and opportunities for students to meet and 50¢ialise with each other. They also
provide valued student employment as well as revenue to support our non-commercial services.
6. Student Employment opportunities ensure our student staff typically have more training and development
opportunities than with oiher employers from customer service training through to leadership qualifications
for SLbpervisors. They gain grealer expefience and shifts are allocated around student commitments where

UNIVERSITY OF SUSSEX STUDENTS, UNION (LIMITED BY GUARANTEE)
TRU5TEES' REPORT (INCORPORATING THE DIREcfoRS REPORT)
FOR THE YEAR ENDED 31 JULY 2022
possible. We also offer rewarding and beneficial employment opportunrties for recent Sussex graduates in
key role5 throtjghovt the Union on one or Iwo year placements.
Our Principles
liberation at the core.. an SU which fights for justKe and against oppression. One which acts as a hub for all
communities to come together and make meaningful connections.
Part of the community: an SU which is embedded in and open to the local community.
Students as organisers: an SU which develops the know￿dge. skills and capacity of students to organise for change.
Collertive care and joy= an SU which seeks out collective solutions to structur31 problems. and which creates spaces
and structuies for mutual support. solidarity and joy.
Bold politlcal actian- an SU which is principled and active on political and social issues both at Sussex and beyond.
Our Wision for the future of the Students, Union
Deeper student engagement: an SU where all students are aware of the union and the trmpaci it can create, where a
significant portion of the student body are aCt￿ve￿ engaged in democratic decision-making.
Strong recovery Irom COVIO: an SU which rebuilds sustainably from the pandemic, rnajorly e¥pand5 commercial
operations and offers in-person spaces for students io connect. socialise and organise together.
A 5e¢tor-leading model: an SU which experiments and pushes boundaries. A thriving model of student unionism which
15 held up in the sector as an example of a union successf¢Jlty fighting for the rnterests of their students.
Rèspect from thè Unlversity.. an SU which is valued and listened to by the University. and which is meaningfully
consulted with on all decisions imparting students, lives.
Greater acce55ibility: an SU which offers a diversity of pathways for engagement to empower all student communities
to participate in shaping their union.
In shaping the objecfives and planning acrivities for the year. the trustees have given consideration to the duties as
Set out in section 17151 if the Charities Act 2011 to have due regard to public benefit.
Achievements and performance
This year saw a cautious return to campus following a worldwKle pandem￿ and several national lockdowns. With
return to face-to-face learning and hybrid workin& this created anxious times for our students and staff. Thi5 was
compounded by an emerging cost of living crisis with students and staff facing hiEher rents and general living Costs.
This meant we continued to implement our digital strategy as many of our seNices and activitie5 remained
onlinelhybrid and our Staff and officers were offered the opporrunily to work at least two days, per week from home.
We managed to do this very successfulty and continued to provitle support. events and information for our
membership throughout the year.
While it has been a challenging trading environment on campus, the Trading Company has been able to generate a
small profit before donations to the charity. Our Venues Team achieved Gold in Best Bar None - accredited scheme
regardin6 the safe and responsible retarl of alcohol- demonstrating high level of due diligence and customer care.

UNIVERSITY OF SUSSEX STUDENTS, UNION {UMITED BY GUARANTEEI
TRUSTEES, REPORT (INCORPORATING THE DIRECTORS REPORT)
FOR THE YEAR ENDED 31 JULY 2022
The opening of the Arch in April 2022 was completed to a high standard and on budget. The Arch started trading on
the 25th of April as part of the opening of the Student Cenire.. the onty retailer to have met the Univer51ty deadline.
Staff Engagement Award
84% of all Sludents, Union staff In-2051 completed the Engagement survey.in 2022. This included 172 student staff
and 33 recent graduate or permanent staff.
Across the SU sector, the 'Killer question, "I would recommend this organisation as a good place to work" scored an
average of 84% positive. At Sussex the score was 92% positive. vp by 12% on the previous year. Student staff were the
most positive with 95% recommending the Union as a good place to work. Acr055 the Unbon a5 3 whole, 513ff gave the
highest scores for the sentences..
l. Colleagues trust and ¥espect each other
l am treated with fairness. respect and dignity at work
I receive support and encouragement from colleagues at work
On the basis of the high scores. Sussex SU gained the NUS award-overall Employee Satisfaction All Stars".
The Union a150 SUPPOrted several student-led campaigns as follows..
Student Sol￿OrIty with striking staff Iteach outs, pickei line support, fundraisin& d1￿ct actionl
Hybrid learning- passed SU referenda and offKers continue to work Wbth uni management and particular
schools to increase accessibility of teaching
Fossil free careers - sustainability committee worked with the univeTSlty employability Cent￿ to design a
uni policy on this.
A new university affordable housing poliry la8reed followin8 lobbying after the Tent strike the previou5
yearl
Mitie Must Fall - a campaign raising awareness of the issues of outsovrcing which contributed to the
university's recent decision to bring some staff back in house
• Sexual safety - student responses to increased incidents of spikrng by boycotting the biggest club. Thi5
resulted in the adoption of new measures by local clubs to better protett students. A new stakeholder
group was set up with USSU and clubs in town to discuss ongoing issues and feedback. New student job
roles- night-time safety advocates- were put in place to support students on nights out.
Financial R￿leW
The Covid pandemic continue(J to impact on the group. Income for the year was £5,427.792 compared to £3,684,180
in 2021. Expenditure for the year was £5,451.252 compared to E3.528,676. Overall the group made a deficit of £23.460
compared to a surplus of £155,504 in 2021.
Reserves policy
The current environment thal the University of Sussex Students. Union operates under is more uncertain than ever.
The ongoin8 pandemic and rts effetts are being felt worldwide but the effects on UK HE provision is stark, both in
regards to the effects on the number of students coming to the University of 5us5ex but a150 on the trading
environment the Students. Union operate5 Wlthin.
These effects include the ftJndin8 from Sussex University via a block grant. which has already started to reduce. In
addition. the relationship between ourselves and the VnNersity needs to be a positive one, otherwise grant payment5
may be put at risk. The change5 brought about by ihe pandemic, includingconstant change5 in government legislation.
reduction of resources available to the Students, Union and the immediate viability of our trading Subsidiary are a real
cause for concern.
Reserve5 have been used during the year to support the Trading Company as an example of an unexpected but
material risk realisation which is one purpose of holding these reserves. Fortunately the reserves prior to the Covid

UNIVERSITY OF SUSSEX STUDENTS, UNION (UMITED BY GUARANTEEI
TRUSTEES, REPORT {INCORPORATING THE DIREcfoRS REPORT)
FOR THE YEAR ENDED 31 JULY 2022
events were in surplu5 to minimum requirements which facilitated their v5e to assist the TradinB Company. Action has
been initiated to manage on80ing exposures. Reserves have been rnaintained Just above minimum levels throughout
the year an(1 into the following year. Budgeting ha5 looked forward to the year ahead to remain confident that,
although stretched. the reserves rernain 3dequate. This has been shared and discussed with the Univefslty, who
remains the Union'5 chief funder. The Board monitors these reserves on a three month forward planning basis.
A robust budgeting procedure is followed every year, vthich helps the Students. Union become aware of potential
issues and opportunities going forward. The reserves policy is reviewed at least annual￿, to make sure it Is fir for the
Students, Union moving forward. The 4 principles below will always fomi an important part of this.
The principles are as follows:
LiquidilylWorkinB capital
The Union's reserves policy is to build and maintain cash reserves at J level equal to 3 months of core operating ¢osts
for the organi5ation. Any reserves above the level of 3 months operating cosi may be used from time to time to
enhance ihe charitable activitie5. This principle will help us get through any periods where we have a temporary
shortfall where block funding oi other income sources have been delayed in the short term.
Funding sources
The majority of fundin8 received by the Student Union comes by way of a block grant from Sussex University. It is
important to maintain a positive and open relationship with Sussex University. It is also important to ascertain
certainly on future fundin& as this may vary significantly from one year to the next. It is also important to be aware
of factor5 Outside the control of Su55ex University which could influence future Grant funding. With this approach,
adju5tment5 needed can be implemented in good time. Other sources of income, such as that from the trading
subsidiary also need to be monitored carefulw so that any change5 in funding (an be managed correctly. In addition.
as we start to look at more funding from outside the University and Tradin8 company, we need to work with reputable
organisation5 and carefully budget the opportunities that this may provide.
3. Winding down of the charity and it5 trading subsidiary
A going concern analy515 need5 to be condutted in an ongoing manner. The Universrty, as the Union's chief funder.
has given reassurances thai, should rt be needed, the Union would be given financial support for il to remain a 8oing
concern. They have a150 agreed io a long-term funding plan to allow better financial planning and security for the
Union. With thi5 in mind the Trustees no longer feel that the costs of winding down the Union need to be part of thi5
reserves policy as it no longer represents a material risk. In the Unlike￿ event of the Student Union's trading subsidiary
needing to be wound down, enough reserves will be put aside to cover statutory costs $0 thai this can be fully funded.
This item is not an addilional item t)ut establishes a baseline below which the total unrestricted reserves will not be
allowed to f811.
4. Capital accumulationlFuture risks
The Trustees may decide to build reserves above the set level for capital investment projects or to cover a future
specific material potential risk.
202112022 Reserves
Item l.. Annually, the turrent CO￿ operating costs of the Union are around £1,240,(K)O. This equates to £103,333 per
month. This figure will be reviewed ar?nUal￿ by the Trustees. Three month5 of eypenditure is £310k

UNIVERSITY OF SUSSEX STUDENTS, UNION (LIMITED BY GUARANTEE)
TRUSTEES. REPORT (INCORPORATING THE DIREcfoRS REPORT)
FOR THE YEAR ENDED 31 JULY 2022
Item 2- Trustees have aEreed a commitment to cover costs of supporting the 5tvdent ￿ttIng$ business. whTrch amounts
to £24k. This is to expand the busines5 and bring in greater profits for the charity in subsequent years whilst providing
better housing and conditions for more students. Due to changes in staffing and legislation which has made thls
project commercial unviable. the service ceased trading on the 31st January 2023.
Item 3.. For the year ended 31" Juty 2021. this number has been calculated to be £137k to cover ￿dundancY and
associated administration costs.
Item 4.. Changes to our financial policies fflean that the Un￿n will now use the previous year's surpluses from the
trading company in its annual budgetirbg. This gwe5 greaier certainty of the level of funding the trading Subsidiary will
provide. Foi the next financial year, due to an expetted low Sufplus from the trading company, the Trustees have
agreed to commrt £40K to make up for the shortfall to support the services that this lundin8 usually supports.
The reseNes level of unrestricted funds is sei at £374k for the ￿(ren1 year (minimum cost of Item I plus Item 2 and
Item 4} with an absolijte operating mrnimum set at £137k Iirem 31.
Plans for future periods
New strategy
We reviewed our new Strategic Framework "Becoming Your Union" in light of the effect5 of the pandemic and what
that will mean for our services and our role within 3 very different educational environment. As part of this we
committed to reviewing both the organisational structure and our finances. A key elernent of our new strategy has
been the development and implementation of our new digrtal strategy which we will continue throughout the year. A
core part of this will be a new website allowing ihe better use of data.
Increasin8 engagement and parti¢ipation in Union demotratic aiti¥ity
We continue to build on the work of the last strategy to increase student participation in our representative and
demo¢r3tic engagement with students ensuring that the feed-in arhd feedback processes are further developed and
our communications become more student-focussed. We will also be looking at ways to increase transparency and
strengthen actountability of the Union and its oflicers lo its rnember5hip. A key part of that will be the governance
review and our continuation to regLTrlarly monitor levels of student $3tisfaction with their experlence of University and
that of the Students, Union through the Student Lrfe Pulse survey.
Improving our financial performance
Due to the worsening financial situation due io the pandemic and the cost-of-living CTISIS. we are reviewingthe funding
process with the Universily to ensure we have a sustainable funding model to allow better lon8-term finèncial
planning. We have started a pay & 8radin8 review to implement new salary structures and recruitrnent policies to
better control costs whilst increasing salarie5 for lower paid staff where possible.
Trustees
The trustee5 set out below have held oftice during the whole of the period from I" Au8USt 2021 to the date of this
report, unless othenwise Stated.
Officer.. Nehaal Bajwa Iresened 15 July 2022
Officer.. Connor Moylett Iresigned 15 July 20221
Officer.. Annie O'connor Ire51gned 15 July 20221
Officer.. Paris Palmano (resigned 15 July 20221
Officer.. Yasmin James Iresigned February 20221
Officer.. Caitlin Wen (resigned 15 july 20221
Officer.. Nera Cornell (appointed 15 July 20221
Officer.. Riko Kunisue (appointed 15 July 20221
Officer.. Rose Linehan lappointed 15 july 20221
Officer.. Liam Pem lappointed 15 July 20221

UNIVERSITY OF SUSSEX STUDENTS, UNION (LIMITED BY GUARANTEEI
TRUSTEES. REPORT (INCORPORATING THE DIRECTORS REPORT)
FOR THE YEAR ENDED 31 JULY 2022
Officer.. Ni3mh Tickner (appointed 15 July 20221
Officer.. Aaron Williams lappointed 15 July, 202ZI
Student.. Mavi5 Elias Ire51Bned 29 J3nuary 20221
Student.. Rebekah Flemin8 Iresigned 15 July 20221
Siudeni.. Aaron Williams Iresigned IS July 20221
Siudent.. Muthoni Kahuho (appointed 26 September 2022}
Student.. Amelia Mcmahan (appointed 26 September 2022
Sludent., jacob Whitear (appointed 26 September 202211
External.. Lindsay Thornas Iresigned 20 October 20211
External.. Billy 8ryan (appointed 30 April 20211
External.. Helen Hoo8ewerf-McComb (appointed 30 April 20211
External.. Cameron Joshi lappointed 29 October 20211
5tatemertt of dSsclo5ure to auditor
So far as each person who was a trustee 3t thè date of approvinE this report are aware. there Is no relevant audit
information of which the 8roup's auditor 15 unaware. Additionally, the trustees individually have taken all the
necessary steps that they ought lo have taken as directors in order to make themselves awère of all relevant audit
information and to establish that the group's auditor 15 aware of that infom7ation.
This report wa5 approved by the Trustees on an(1 signed on their behalf. bv=
Liam Pem
Chair of the Trustees
February 2023

UNIVERSITY OF SUSSEX STUDENTS. UNION (LIMITED BY GUARANTEE)
STATEMENT OF TRUSTEES. RESPONSIBILITIES
FOR THE YEAR ENDED 31 JULY 2022
The Trustees, who are also the direttors of Universrty of Sussex Students, Urtion for the purpose of company law,
are responsible for preparing the Trustees. Report and ihe accounts in accordance with applicable law and United
KinBdom Accovnting Starbdards Iunited Kingdom GeneralW Actepted Accounting Practice), including Financial
Reporling Standard FR5102 The Financial Reporting Standard applicable in the UK and Republic of Ireland..
Company law requires the Trustees. to prepare accounts for each financial year which give a true and fair view of
the state of affairs of the charitable company and group and of the incoming resources and application of resources,
including the income and expenditvre, of the charitable company and group for that year.
In preparing these accounts, the Trustees are required to:
select surtable accounting policies and then apply them conslStently-
obseNe the methods and principles in the Charities SORP-
make jud8ements and estimates that a￿ reasonable and prudent.. and
prepare the accounts on the going concern basis unless it is inappropriate to presume that the charitable
company will continue in operation.
The Trustees are responsible for keeping proper accounting ￿CordS that disc105e with reasonable accuracy at any
time ihe finantial position of the charitable company and group and enable them to ensure that the accounts
comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable
company and group and hence for taking reasonable steps for the prevention and detection of fraud and other
Irregularities.

UNIVERSITY OF SUSSEX STUDENTS, UNION (UMITED BY GUARANTEEI
REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS
Opinion
We have audrted the financièl statements of Uniyersity of Svssex Students. Union I'the charitable company'l ènd its
subsidiary I'the group'l for the year ended 31 July 2022 which comprise the Consolidated Statement of Financial
Activities, the Group Balance Sheet, the Charity Balance Sheet. the Cash Flow Statement and note5 to the financial
statements, including a 5umm3ry of significant accounting policTres. The financial reporting frèmework that has been
applied In iheir 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 General
Accepted Accounting Prarticel.
In our opinion. the financial statements:
give a true and fair view of the state of the group's and the parent charitable company's affairs as at 31 lu
2022 and of its incoming resources and application of resources for the year then ended-
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice-
nd
have been prepared in accordance with the requirements of the Companies Act 2C(16.
Basis for opinion
We conducted our audit in accordance with International Standards on Auditing IUKI IISAS IUKII and applicable law.
Our responsibililies under those standards are further described in the Auditor'5 responsibilities for the audit of the
financial statements section of our report. We are independent of the group 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 b•sis for our opinion.
Conclusion5 relating to going concem
In audiling the financial statements. we have concluded that the trustees, use of the going concern basis of accounting
in the prep¥ration of the financial statements is appropriate.
Based on the work we have performed. we have not identrfied any material uncertainties relatin8 to events or
conditions that. individually or collectively. may cast signilicant doubt on the charitVs and 8roup's ability to continue
as a Eoing concern for a period of at least twelve months from when the financial staiements are auihorised for issue.
Our responsibilitie5 and ihe responsibilities of the trustees with respect to going concern are described tn the relevant
sections of this report.
Other infomiation
The other informalion comprises the information included in the annval report other than the financial statements
and our auditorf5 report thereon. The trustees are responsible for the other information contained within the annual
report. Our opinion on the financial statements doe5 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. Our
responsibility is to read the other information and. in doing 50, consider whether the other information is materially
inconsistent with the financial statements or our knowledge obtained in the course of the audit. or otherwise appears
to be rnaterially misstated. If we identify such material inconsisiencies or apparent material misstatement5, we are
required to deiermine whether this gives rise to a material mi5Statement in the financial statement5 themselve5. 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.
io

UNIVERSITY OF SUSSEX STUDENTS, UNION (LIMITED BY GUARANTEE)
REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS
Opirtions ¢n other matters prescribed by the Cornpanies Art 2006
In our opTrnion, based on the work undertaken in the course of the audit:
the information given in the trusiees. report (incorporating the direttors, report) for the financial year for
whrch the financt8151atements are prepareil is con515tent with the financial statements.. and
the directors, report has been prepared in accordance with applicable legal reqU1￿MentS.
Matters an which we are rtquired to report by exception
In the light of our knowledge and understanding of the charitable company and group and its environment obtained
n the course of the audit. we have not identified material missiatements in the directors, report.
We have nothing to report in respect of the following matters in relation to which the Companies Act 2￿6 requires
us to report to you if. in our opinion..
adequate aecovnting records have not been kept. or returns adequate for our audit have not been received
from branches not visited by us- or
the financial statements are not in agreement with the accounting records and returns.. or
certain disclosures of directors, remuneration specified by law are not made.. or
we have not received all the information and explanation5 we requ¥re for our auLlit- or
the trustees were not entitled to prepare the financial $13tements in accordance with the small companies
regime and take advantaEe of the small companies. exemption in preparing the directols report and take
advantage of the small companies exemption from the requirement to prepare a 5trate8ic report.
Responsibilities ol trnstees
As explained more fully in the trustees, responsibilities 5talement, the trustees (who are a150 the directors of the
haritable company for the purposes of company lawl are responsible for the preparath)n of the financial
statements and for being sat15fied that they give 3 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 fravd or error. In preparing the financial statements, the trustees are responsible for asses5inB the
haritable companvs ability to continue as a going concern. disclosin& as applicable, matters related to going
concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable
company or to cease operations, or have no realistic alternative but to do so.
Audltorfs responsibilities for the audit of the financial statements
Our objeclives are to obtain reasonable assurance about whether the financial statements as a whole are free from
material misstatement. whether due io fraud or error, and to Issue an auditofs report that includes our opinion.
Reasonable assurance is a high level of assurance. but is not a guarantee that an audit conducted in accordan
with ISAS IUKI will always detect a material misstatement when it exists. Misstatements can arise from fraud or
error and ore 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 statemertts.
Irregularittes, including fraud. are instances of non-compliance with laws and regulations. The extent to which our
procedures are capable of detecting irre8ularitie5, including fraud. is detailed below.
Extent to which the audit was considered tapable of detecting irregularities. including fraud
The objective5 of our audit, in respect to fratjd, are." to identify and assess the risks of material misstatement of the
financial statement5 due to fraud.. to obtain sufficient appropriate audit evidence regarding the a55e55ed risks of
material misstatement due to fraud, through designing and implementing appropriate responses,. and to respond
appropriately to fraud or suspected fraud identified during the audit. However. the primary responsibility for the
prevention and detection of fraud rests with both those charged with governance af the enticy 8nd ils management.
li

UNIVERSITY OF SUSSEX STUDENTS. UNION (LIMITED BY GUARANTEEI
REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS
Our approach was as follows..
We identified areas of laws and ￿gulationS that could reasonably be expected to have a matertal effect on
the financial statements from our general cornmercial and sector experience, and through discussion with
the directors and other management las required by auditing standards), and discussed with the direcrors
and other management the policies and proceduTes regarding compliance with laws and ¥egulations-
We identified the following areas as those most likely to have such an effect.. health and safety.. General
Data Protection Regulation IGDPRI.. fraud.. bribery and corruption and employment law. Avditing standards
limil the required audit procedures to identify non-compliance with these laws and regulations lo enquiry
of the trustees and other management and inspection of regulatory and legal correspondence, if any.
We considered the legal and regulatory frameworks directly applitable to the financial statements
reportinE framework IFRS 102 and the Companies Act 2006 and the Charitie5 Act 20111 and the relevant
tax compliance regulations in the UK-
We considered the nature of the group's operations. the control environment and business performance.
including the key driver5 for management's remuneration:
We communicated identified laws and ￿gUlationS throughout our team and remained alert to any
indications of non-compliance throughout the audit..
We considered the procedures and controls that the group ha5 established to address risks identified, or
that othem￿lse prevent, deter and detectfraud- and how senior management monitors those programmes
and corbtrol5.
Based on this understanding we designed our audit procedures to identify non-compliance with such laws and
regulations. Where the risk was considered to be highÈr, we performed èudit pro£edvres to address each identified
fraud risk. These procedures included-. testing Manual journals,. reviewing the financial statement disclosures and
testing to supporting documentation. performing analytical procedures- and enquiring of management. and were
designed to provide reasonable assurance that the financial statements were free from fraud or error.
Owin8 to the inherent limitations of an audit. there is an unavoidable risk that we may not have detected some
material rnisstatements in the financial staternents, even though we have property planned and performed our
audit in accordance with auditing standards. For example, the further removed non-compliance with laws and
regulations lirregularitiesl is from the event5 and transactions reflected in the financial 5tatementS. the less like
the inherently limited procedure5 required by auditing standard5 would identify it. The risk is also greater regarding
irregularities occurring due io fraud rather than error. as fraud involves Intentional concealment. forgery. collusion,
omission or misrepresentation. We are not responsible for preventing non-compliance and cannot be expected to
(Jetett non-compliance with all laws and regulations.
A further description of our responsibilities for the audit of the financial statements is located on the Financial
Reporting Council's web5rte at: htt
www.frc.or
Our-work
Audit
Audit-and-assurante
Standards-and-
uidance
Stanards-and-
vidance-for-auditors
Avditors-res
onsibilities-for-audi
Descri
tion-of-auditors-
onsibilities-for-audit.as
x. This description forms part of our auditorfs report.
res
12

UNIVERSITY OF SUSSEX STUDENTS, UNION (LIMITED BY GUARANTEE)
REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS
Use of our repori
This report is made solely to the charitable company's members. as a body. in atcordante with Chapter 3 of Part 16
of the Companies Act 2(X)6. Our audit work has been undertaken so that we might state lo ihe charitable company's
members those matters we are required to state to them in an auditorfs 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 charitable
company and the charitable company's members as a body. for our audit worK for this report. OT for the opinion5
we have formed.
Mark Cummins FCCA Isenior Statutory AudltoTI
for and on behalf of TC Group
Statutory Auditors
Office: 5vssex
13

UNIVERSITY OF SUSSEX STUDENTS. UNION (LIMITED BY GUARANTEE)
CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES {INCLUOING THE INCOME AND
EXPENDITURE ACCOUNTI
FOR THE YEAR ENDED 31 JUL Y2022
Unrestrlcted
fund5
Designated
fvnds
Restricted
funds
Total
2022
Total 2021
INCOME FROM:
Charitable artivities
Other trading activities
Inve5tment5
Total income
Notes
1.421,646
3.816,800
91
176.637
1.598.283
3.829.418
91
1.351,042
2,332,976
162
12.618
5.238.537
176.637
12.618
5.427.792
3,684,180
EXPENDITURE ON..
Raising funds- trading
expenditure
Charitable activities
Total Èxpenditure
2.625.680
2,625.680
1,268,390
2.616.738
5.242.418
202.216
202.216
6,618
6.618
2,825.572
5.451.252
2,260,286
3,528,676
Net income / lexpendlture)
13.8811
125.5791
123.4601
155,504
Transfers between funds
19
1193,2991
193.299
Net movement in funds
1197.1801
167,720
123,4601
ISS.504
Reconciliation of funds
Total funds brought fO￿ard
714.574
67.565
782,139
626,635
Total fund5 carried forward
517.394
167,720
73.565
758,679
782,139
The Consolidated Statement of Financial Activities includes all gain5 and losse5 recognised in the year.
The notes on pages 18 to 31 form part of these financial statements.
14

UNIVERSITY OF SUSSEX STUDENTS, UNION (LIMITED BY GUARANTEE)
CONSOIIDATED BALANCE SHEET
A5AT31JUIY2022
2022
2021
Alotes
FIXED ASSETS
Tangible assets
13
159.020
101,307
CURRENT ASS￿$
Stock
Debtois
Cash at bank and in hand
15
16
67,766
119,820
802,540
S2,837
178.017
895,588
990.126
1.126.442
CURREN7 IIABIL VnES
Creditors due within one year
17
1352.1341
1397.2771
NEf CURRENT ASSETS
637,992
729,165
TOTAL A55ETS LE55 CURRENT LIABILITIÉS
797.012
830,472
Creditors- amounts lalling due
after more than ane year
18
138.333)
148,3331
TOTAL NET ASSETS
758,679
782.139
CHARITV FUNDS
Restricted fund5
Designated funds
Unrestricted funds
19
73.565
167.720
517,394
758,679
67.565
714.574
782,139
The Group was entitled to exemption from audit under settion 477 of the Companbe5 Act 2006.
The members have not reqtJire(I the entity 10 obtain an audit for the year in question in accordance with section
476 of the Compallies Att 2006. However, an audit is required in accordance with sectign 151 of the Charities Act
2011.
The Trustees acknowledge their re5ponsibilitie5 for complwng with the requirements of the Act with respect to
3tcounting records and preparation of fin8rncial statements.
The financial staternenis have been prepared in accord3nce with the Provisions applicable to entities Subject to rhe
small companies regime.
The fiftancial statements were approved and authorised by the Board of Trustees on U.l. l)nd signed on their
behalf bv..
Liam Pem
Company Number- 07695765
15

UNIVERSITY OF SUSSEX STUDENTS. UNION {LIMITED BY GUARANTEE)
CHARITY BALANCE SHEEr
ASAT31 JUIY2022
2022
2021
Notes
FIXED A55ETS
Tangible assets
Investments
13
22.795
21.941
14
22.797
21,943
CURRENT ASSETS
Debtors
Cash at bank anil in hand
16
198.361
601.049
799.410
351.381
530.514
881,895
Creditors due within one year
17
190.5061
1262.7731
NETCURRENT ASSETS
708.904
619,122
TOTAL ASSETS
731.701
641.065
CHARITY FUNDS
Restricted funds
Designated fund5
Unrestritted funds
19
73.565
167,720
490.416
731.701
67.565
573,500
641.065
The Union was entitled to exemption from 3udit under section 477 of the Companies Act 2006.
The mernber5 have not required the entity to obtain an audr( for the year in question in accordance with section
476 01 the Companies Act 2006.
However. an audit is ￿qUIred in accordance with section ISI of the Charitie5 Act 2011.
The Trustees acknowledge theii responsibilitie5 foi compfying wtth the requirements of the Act wirh rospect io
accountin8 records and preparation of hnancial 5tstements.
The financial statements were approved and authorised by the Board of Trustees on 13.7 l&nd signed on their
behalf bv=
Liam Pem
Company Number- 07695765
The notes on pages 18 to 31 forrn part of these financial statements
16

UNIVERSITY OF SUSSEX STUDENTS, UNION (LIMITED BY GUARANTEE)
CONSOLIDATED CASH FLOW
FOR THE YEAR ENDED 31 JUIY2022
Notes
2022
2021
Cash flows from operating activities
Net cash used in operatinE activities
21
28.485
304.202
Cash flows frem investing acti¥ities
Purchase of tangible fixed assets
13
1120.266)
16,9241
Net cash used In investing activities
1120.266)
16,9241
Cash flows from financing activities
Repayments of borrowings
11.2671
18841
Cash inllows from new borrowin8S
50,000
Net ta5h provided by financinB activities
11.2671
49,116
Change In cash and cash equivalents in the year
193,0481
346.394
Cash and cash equivalents at the beginning of the year
895.588
549.194
Cash and cash equivalents at the end ol the year
802.540
895.588
The notes on pages 18 to 31 form part of these financial statemerbts
17

UNIVERSITY OF SUSSEX STUDENTS, UNION qLIMITED BY GUARANTEE)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JUL Y2022
STATUTOR Y INFORMATION
The Union 15 a company limited by guarantee. The members if the company are the Trustees named on the legal
and adrnin information page. In the event of the union being wound up. the liability in respect of the guarantee
is limited to £1 per member of the Union.
ACCOUNTING POLICIES
2.1 Basis of preparation of financial statements
The financial statements have been prepared in accordance with Charities SORP IFRS1021 Accounting and
Reporting by Charities.. Statement of Recommended Prartice applicable to charities preparing their accounts in
ccordance with Financial reporting Standard applicable in the UK IFRS 1021 (effective I january 20191, the
Financial Reporting Standard applicable in the UK IFRS 1021 and the Companies Acr 2006.
The financial statements are prepared in sterlin& whKh is the functional currency of the charily. Monetarv
amounts in these financial statements are rounded to the nearest pound.
University of Sussex Students. Union meet5 the definrt40n of a public benefit entity under FRS 102. Asset5 and
liabilities are initially reco8nised at hisiorical cost or transattion value unless otherwise stated in the relevant
accounting policy.
The Consolidated Staternent of F¥nancial Activities ISOFAI and Con501idated 8alance Sheet consolidate the
financial statements of the Union and its subsidiary undertakin8. The results of the stsbsidiary are consolidated
on a line by line basis.
The Union ha5 taken advantage of the exemption allowed under section 408 of the Companies Act 2006 and
has not presented its own Statement of Financial ActNities in these financial statements.
2.2 GoinB Concem
At the lsme of approving the financial statements. the trustees have a reasonable expectation that the Union
has adequaie resources to continue in operational existence for the foreseeable future. Thu5 the trustees
continue to adopt the going concern basis of accounting in prepariftg the financial statements.
2.3 Incomè
All income is recognised once the Union has enlitlement to the income. it is probable that the income will be
received and the amount of income ￿CeiVable can be measured reliablv.
Grants are included in the consolidated statement of financial activitie5 on an accruals basis. The balance of
income recewed for specific purposes but not expended during the period is shown in the relevant fund5 on the
Balance sheet. Where income is received in advance of entitlement of receipt. its recognition 15 deferred and
included in treditors as deferred income. Where entitlement occurs before income is received, the income is
accrued.
Gifts in kind donated for distribution are included at valuation and recognised as income where they are
distributed to the pfoiects. Gifts donated for ￿Sale are included as income when they are sol(l.
Where the donated good 15 a fixed asset, rt is measured at fair value. unless it Is impractic31 to measure this
reliably, in which case ihe c05t of the item to the donor should be used. The gain is recognised as income from
donations and a corresponding amount is included in the appropriate fixed asset tlass and depreciated over the
useful economic life in accordance with the Union's accouniing policies.
18

UNIVERSITY OF SUSSEX STUDENTS, UNION (LIMITED BY GUARANTEEI
NOTES TO THE FINANCIAL STATEMENTS {CONTINUED)
FOR THE YEAR ENDED 31 JUL Y2022
2.3 Income l£ontinued)
On receipt. donated professional 5ervice5 and faciltties a￿ recogni5ed on the basis of the value of the gift to the
Union which is ihe amount it would have been willing to pay to obtain service5 or facilities of equivalent
economic benefit on the open market- a correspondin8 amount is then recognised in expenditure in the period
of receipt.
Income tax recoverable in relatron to donations received under Gift Aid or deeds of covenant is recognised at
the time of the donation. Income tax recoverable in relation to investment income is recognised at the time the
investment income is receivable.
Other income is recognised in the peri¢xl which it is receivable and to the extent the goods have been provided
or on completion of the 5etvice_
2.4 Expenditure
Expenditure is ￿cOgnised once there 15 a *al or constrvctive oblydation to transfer economic benefit to a third
party. it is probably that a transfer of economic benef￿ will be required in settlement and the amount of the
obligation can be measured reliably. Éxpenditure is classified by artNity- The costs of each activity are made up of
the toial of direct costs and shared costs, including support costs inVo￿ed rn undertaking each activity. Direct Costs
attributable to a single actwity are all(tsted directty to that activity. shared costs which contribute to more than
one activity and support costs which a￿ not attributable to a singbe acttvity are apportioned between those
activitie5 on a basis consistent with the use of resources. Centralstaff costs are albcated on the basis of timespend,
ar¥d depreciation charges allocated on the pOrt￿n of as5eVs use.
Expenditure on raisingfunds includes allexpendrture incurred bythe Group to raisefundsfor its charitable purposes
nd included costs of all fundrai5irg aclNrties events and non-charitable trading.
Expendrture on charitable activitie5 is incurred on direct￿ undertaking the activities which further the Groups
objectives. a5 well as any associated support costs.
All expendrture is incluS￿e of irrecoveraNe VAT.
2.5 Interest receivable
Interest on funds held on deposit is included when recewable and the amcwnt can be measured reliably by the
Group.. this is normally upon notifrcation of the interest paid or payable by the institution wtth whom the funds
are deposited.
2.6 Tangible fixed assets and dePr￿latIOn
Tangible fixed assets costing £500 or more are caprtali5ed and recognised when future economie benefi.ts are
probable and the cost OT value of the asset can be measured reliablv.
Tongible fixed assets are initialty rec￿niSed at COSI. After recognition. under the cost model, tangible fixed asse15
are measured at cost les5 accumulated depreciation and any accumulated impairment losses. All costs incurred
to brin8 a tangible asset into its intended working condition should be included in the measuremènt of cost.
At each reporting date the Un*)n assesses whether there is any indication of impairment. If such indication exists,
the recoverable amount of the asset is determined to be the higher of its fair value less costs to sell and its value
in use. An impèirment loss is recogni5ed where the carrying amount exceeds the recoverable amount.
19

UNIVERSITY OF SUSSEX STUDENTS, UNION ILIMITED BY GUARANTEE)
NOTES TO THE FINANCIAL STATEMENTS ICONTINUEDI
FOR THE YEAR ENDED 31 JUL Y 2022
ACCOUNTING POLICIES {coi)linuedl
2.6 Tan8ible fixed assets and deprecialion Icontinuedl
Dep￿tiatIOn is charged $0 a5 to allocate the cost of tangible fixed assets less their residual value over their
estimated useful lives, using the straight-line method.
Oepreciation bs provided on the following basis:
Fixtures and fittings
Office equiprnent
Computer equipment
Societies and clubs equipment
20-33% straight line
20-33% straight line
2(k33% straight line
20-33% straight line
2.7 Investments
Fixed asset investments are a form of financial instrument and are initially reco8ni5ed at theirtran5action c05t and
subsequently measured at fair value al the Balance Sheet date. unless the value cannot be measured reliably in
which case it is measured at cost less impairment. Investment gains and losses. whether realised or unreali5ed,
are combined and presented a5 'G3ins/lLossesl on investments, in the Con501idated Statemerbi of Financial
Activities.
Investments in subsidiaries are valued at cost less provision for impairment.
2.8 Stock5
Stocks are valued at the lower of cost and net real￿able value after making due allowance for obsolete and slow-
movin8 51ocks. Cost in¢lyded 311 dirett £osts and an appropriate proportion of fixed and variable overheads.
2.9 Debtors
Trade and other debtors are reco8nised at the settjemenl amount after any trade discount offered. Prepayments
are valued at the amount prepaid net of any ttsde discounts due_
2.10 Cash èt bank and in hand
Cash at bank and in hand include cash and short-term hghty liquid investments with a short maturity of three
month5 or less from the date of acqvisition or OFening of the deposrt or similar account.
2.11 Liabilities and prov15ions
Liabilities are recognised when there is an obligation at the Balance Sheet date a5 a result of a past event. it is
Probable that a transfer of economic benefit will be required in settlement. and the amount of the settlement can
be e5tin7ated reliably.
Liabilities are Tecognised at the amount that the Union anticipate5 It will pay to settle the debt or the amount it
has received a5 advanced payments for the goods or service5 It must provide.
Provisions 8re rneasured at the best estimate of the amoun15 ￿quIred to sett5e the obligation. Where the effect
of the time value of money is material. the provision is based on the present value of those amounts. discounted
at the pre-tax disc¢xJni rate that reflects the r￿kS specific. to the liability. The unwinding of the discount is
rewnised in the Consolidated Statement of Finantval Artivities as a finance cost.
20

UNIVERSITY OF SUSSEX STUDENTS. UNION (LIMITED BY GUARANTEEI
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JUL Y2022
2 ACCOUNTING POLICIES {continuedl
2.12 Financial in5trurnents
The Group only has financial asset5 and tinancial liabilities of a kind that qualify as basic financial instruments.
Basic f¥nancial in51ruments are Initial￿ recognised at transaction value and Subsequently measured at their
settlement value with the exception of bank loans which are subsequently measured at amort15eLI cost V5in6 the
effeaive interest method.
2.13 Operating leases
Rentals paid under operating leases are charged to the Consolidated Siatemefit of Financial Activities on a
straight line basis over the lease term.
2.14 Pen511)ns
The Group operates a defined contritHJtion pension scheme ènd the pension charge represents the amounts
payable by ihe Group to the fund in respett of the year.
2.15 Fund accounting
General funds are unrestricted fvnds which a￿ available for use at the discretion of the Trustees in furtherance of
the general objectives of the Group and which have not been designated for other purposes.
Reslricted funds are fvnds which a￿ to be used in accordance with specth"c restrittrons imposed by donors or
which have been raised by the Group for particular purposes. The costs of raising and administering such funds
are charged against such funds are charged aBainst the 5pecrfic fund. The aim and use of each restricted fund is
set in the notes to the financial staternents.
INCOME FROM CHARITABLE AcrivtTES
Unrestricted
funds
2022
Designated
funds
2022
Restricted
funds
2022
Total fvnds
Total
funds
2021
2022
University grant- general
funds
Univer5ity- Other funding
other grant income
Activities, clubs and
50cietie5
Membership fees
1,234.000
1.234.000
1,234,0(K)
9.530
9.530
61,400
36.355
139.789
176,637
316.426
38.327
1.421.646
1.289.642
38,327
1,598,283
1,351,042
18,287
1,351,042
176.637
Total 2021
61,4
21

UNIVERSITY OF SUSSEX STUDENTS, UNION (LIMITED BY GUARANTEE)
NOTES TO THE FINANCIAL STATEMENTS ICONTINUEDI
FOR THE YEAR ENDED 31 JUL Y2022
OTHER TRADING AcfiviTIES
Unrestricted
funds
2022
Designated
funds
2022
RestrlctÈd
funds
2022
Total
fund5
2022
Tot81
funds
2021
University- accommodation.
utilities and cleaning
Other grant income
Catering and lettings
management charges
Other income
Sale5 and operating income
Publications and advertising
786.(KlO
786.000
786.000
12.618
12.618
835,834
393.544
288,126
835.834
50.416
2,053.842
90.708
3.816.800
2.254.586
50.416
2,053.842
90,708
3.829,418
2.332,976
78.554
771.446
15.306
2,332,976
12.618
78,390
Total 2021
INVESTMENT INCOME
Unrestri¢ted
funds
2022
Designated
funds
2022
Restrirted
funds
2022
Total
funds
2022
Total
funds
2021
Investment income
91
91
162
ANALYS15 OF EXPENDITURE ON CHARITABLE AcfvJTIES BY FUND
Unresiricted
funds
2022
Designated
fund5
2022
Restrltted
funds
2022
Total
funds
2022
Total
funds
2021
Representation and democracy
INote 71
Publications INote 81
Activities, club5 and societie5
INote 91
Goverrhance c05t5 (Note 101
818,035
6.618
824.653
736.754
331.414
1.436,654
331,414
1,638.870
281,695
1,219,353
202,216
30.635
2.616,738
2.139.951
30,635
2,825,572
2.260.286
22.484
2.260,286
202,216
6.618
120.335
Total 2021
22

UNIVERSITY OF SUSSEX STUDENTS, UNION (LIMITED BY GUARANTEE)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENOED 31 JUL Y2022
EXPENDITURE ON CHARITABLE ACTIVITIES
u￿r￿tricted
funds
2022
Designated
funds
2022
Restricted
funds
2022
Total
funds
2022
Total
funds
2021
Representation and
democracy
Permanent siaff costs
Sabb3tical officers
NUS affiliation
Campaigns and conferences
Support costs
164.659
149,171
24.OCKI
16.079
464.126
818.035
674.024
164.659
149.171
24.000
22.697
464.126
824,653
736.754
155,035
136.507
25.361
46,484
373,367
736.754
6.618
6.618
62.730
Total 2021
EXPENDITURE ON CHARITABLE AcnviTIES ICONTINUEDI
Unrestrirted
Designated
funds
funds
2022
2022
Restricted
funds
2022
Total
funds
2022
Total
funds
2021
Publications
Permanent staff costs
Administrative costs
Student media
Union marketing
Website
Support costs
72.415
121
10.234
5,131
30,132
213.381
331.414
272.140
72.415
121
10.234
5,131
30.132
213,381
331,414
281.695
69,814
350
5.450
4,479
29,948
171,654
281,695
Total 2021
9,555
EXPENDITURE ON CHARITABLE AcfiviTIES ICONTINUEOI
Unrestricted
funds
2022
Designated
funds
2022
Restricted
funds
2022
Total
fund5
2022
Total
funds
2021
ACTIVITIES. CLUBS AND SOCITIES
Permaftent staff costs
Administration
Entertainment5. expenditure
& events
Freshers week events
Sports club expenditure
Sports club funding
Club and society expenditure
Club and 50£iety fundraising
8U5A and regional affiliation
Support costs
111,151
2,472
31.138
111,151
2,472
31.138
123,968
1,760
5,402
91.841
11.859
101.734
413
91,841
11,859
101,734
413
202,216
13,064
1,072,982
1,638,870
1,219,353
14,918
17,741
61,419
10,310
111,913
8,760
863,162
1,219,353
202.216
13.064
1.072.982
1.436.654
1.171.303
202.216
Total 2021
48,050
23

UNIVERSITY OF SUSSEX STUDENTS. UNION (LIMITED BY GUARANTEE)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JUL Y 2022
10 EXPENDITURE ON CHARITABLE ACTIVITIES ICONTINUEOI
Unrestrirted
Designated
lunds
funds
2022
2022
Re5trirted
fvnds
2022
Total
funds
2022
Total
funds
2021
Governance costs
Audit and accountancv
Consultancy services
Professional services
8.300
21.959
376
30.635
22,484
9,025
11,226
2,233
22.484
21.959
376
30.635
22.484
Total 2021
11 AUDITOR'S REMUNERATION
Total
2022
Total
2021
Fees payable to the Union's current auditor for the audit
14.250
13.000
12 STAFF COSTS
Group
2022
Grovp
2021
Union
2022
Union
2021
Wages and salaries
Social security costs
Contribution to defined contribution pension
schemes
2.172.896
135.187
1.758.480
108,651
1.106.330
93,503
974,969
83,441
62.164
54,159
43.826
39.497
2.370.247
1,921.290
1.243.659
1,097.907
The average number of persons employe(I by the Union durin8 the year was as follows=
Group
2022
No
38
12
50
Group
2021
No
34
Union
2022
No
38
Union
2021
No
34
University of Sussex Students, Union
Vniver51ty of Sussex Students Union Trading Ltd
43
38
34
The number of employees, whole benefrts lex¢luding employer pension costsl exceeded £60,1)XS was:
Group
2022
No
Group
2021
No
In the band £60.001- £70.C
In the band £?0.001- £80,0(KJ
All key managernent personY)el for the year are the Trustees. Interim CEO, Deputy CEO, Director of Digital
Eneagemenl. Head of Finance. Head of Central Support and Irbterim Head of Commercial Operations. The a8gregate
remuneration of key management personnel was £427,6S212021: £417.6621.
24

UNIVERSITY OF SUSSEX STUDENTS, UNION (LIMITED BY GUARANTEE)
NOTESTO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JUL Y 2022
13 TANGIBLE FIXED ASSET5
Fyeehold
Office
Computer
Equipmenl
Total
Group
Fittings
Equipment
Cost or valuation
At l August 2021
Additions
533.664
77.392
1146.5161
464.540
197,414
113,797
15.335
141,7811
87.351
844,875
120,266
1258,6981
706,443
27.539
170,4011
154.552
Disposals
At 31 July 2022
Depreciation
At l Augusi 2021
Disposals
Char8e for the year
At 31 July 2022
471.605
167,619
170.1761
16,866
104,344
141,7811
10.858
743.568
1258,4681
62.323
1146.5111
34.599
359.693
114,309
73,421
547.423
Net book value
At 31 July 2022
At31 july 2021
104.487
40,243
13.930
159,020
62.059
29,796
9.453
101,307
Fieehold
Office
Computer
Equipment
Total
Unlon
Fittir
Equipment
Cost or ¥aluation
At l August 2021
Ailditions
209.540
1,320
191.7311
119.129
33.136
113,797
15,335
41,7811
87,351
356.473
508
17.163
{151.7031
221,933
Disposals
At 31 July 20Z2
118,1911
15.453
Oepreciation
At l August 2021
Disposals
Charge for the year
At 31 Juty 2022
198,486
191.7311
4,261
111.016
31,702
118,1881
1,187
104.344
141,7811
10.858
334.532
1151.7001
16,306
199,138
14.701
73,421
Net book value
At 31 July 2022
At311uly2021
8.113
752
13.930
22,795
11,054
1.434
9,453
21.941
25

UNIVERSITY OF SUSSEX STUDENTS, UNION (LIMITEO BY GUARANTEE}
NOTES TOTHE FINANCIALSTATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JUL Y2022
14 FIXED Ass￿ INVESMENT5
Investments
in
subsidiary
company
Union
C05t or valuation
At l August 2021
At 31 July 2022
Net book value
At 31 July 2022
Ai 311vly2021
15 STOCKS
Group
2022
Group
2021
Finished Boods and goods for sale
67,766
52,837
16 DEBTORS
Group
2022
Union
2021
2022
2021
Due within one year
Trade debtors
50.831
20.683
9,773
143,717
28.273
5.421
195.721
Amounts owed by group undertakrngs
Other debtors
39.454
24.336
31.999
Prepayments and accrued income
29.535
119.820
132,998
178.017
16,598
118.240
351.381
198.361
17 CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Group
2022
Union
2021
2022
2021
Bank loan and overdrafts
10.000
101.107
61.899
18.320
160.808
3S2.134
1.267
66,261
46.9S8
206,279
76.512
Trade creditor5
22,908
21.224
6.252
40,122
90.506
3,558
18.984
199,447
40,784
262,773
oth.er taxatioft and social security
Other creditors
Accruals and deferred income
397.277
26

UNIVERSITY OF SUSSEX STUDENTS, UNION (LIMITED BY GUARANTEE)
NOTES TO THE FINANCIAL STATEMENTS (coKfiNUED)
FOR THE YEAR ENDED 31 JUL Y2022
18 CREDITORS: AMOUNTS FALLING DUE AFfER ONE YEAR
Group
2022
Union
2021
2022
2021
Bank loan and overdrafts
38.333
48,333
38.333
48.333
The loan is a Coronavirus Bounce Back Loan. The loan 15 repayable in equal instal￿ntS over 60 months. The
loan is interest free for the firsi twefve months.
19 STATEMENTOF FUNDS
Balance at
l August
2021
Income
Expenditure
Transfers
Balante at
31 July
2022
Unrestricted funds
General funds
714.574
714.574
5.238,537 15.242.418)
5.238.537
15.242.418)
1193,2991
1193,2991
517,394
517,394
Designated funds
Clubs & Societies
176,637
176.637
1202,2161
1202,2161
193.299
193.299
167,720
167,720
Restricted funds
University grant
Su55ex fund IAlumnil
Community social fund
Role models
Sport projects
Good night ow15
8AME ambassador
Interim strurture
5.693
25.267
626
9.820
476
1,351
24.332
S,693
25.267
626
9.820
476
1.351
24,332
6,OLYJ
73,$65
6,618
16,6181
67.565
12,618
16.6181
Total funds
782.139
5.427.792 {5.451.252)
758,679
* The transfer above represents a change in the accounting treatment of the Clubs and Societies balance from
previous year5.
27

UNIVERSITY OF SUSSEX STUDENTS, UNION (LIMITED BY GUARANTEE)
NOTE5 TO THE FINANCIAL STATEMENTS ICONTINUED)
FOR THE YEAR ENDED 31 JUL Y2022
19 STATEMENT OF FLINDS ICONTINUEDI
Statement of fiinds prior year
Bal•nce at
l August
2020
Income
Expenditure
Transfers
Balance at
31 July
2021
Unrestricted funds
General funds
578,52S
578,525
3,544,390 13,408,3411
3,544,390 13.408.341)
714.574
714,574
Restrirted funds
University grant
Sussex fund (Alumni)
Community social fund
Role models
Sport projects
Good night owls
8AME ambassador
Resilience skills
Job retention scheme
5.693
25.267
626
9,820
476
1.351
4.877
5.693
25.267
626
9.820
476
1.351
24.332
51,800
132.3451
19,6001
178.3901
1120.3351
78,390
139.79)
48.110
67,565
Total funds
626.635
3,684,180 13,528,676)
782.139
The Sussex Fund {Alumnil provides the Student Union with funding to support projects ihat enhance the
student experience.
Role Models the Union receives funding for expenses and for l or 2 staff members to run the Role Models
pro8ramme. The programrne is a peer mentoring scheme wtthin local schools. where out university students
run workshops for their young students on Mental Health and Wellbeing.
The Community Social Fund was a8ain a proposal for a number of different student society projects. almost a51
of which were completed in the year.
sports Project IRFUI is to deliver social and recreational rugby sessions on campv5 that appeal to, and engage,
new participants, and those returning io the sport.
Good Night Owls to Irain and support student volunteers to go out late at rhight in Brighton to help students in
trouble while out on the town.
BAME Amba55adorlRa¢e equity to gather feedback from BAME students on how lifelstudent experience can
be improved lor BAME students on campus.
Resilience 51(ills (Lottery fund) is for resilience skills training to be delivered to Sussex Student Union Staff.
28

UNIVERSITY OF SUSSEX STUDENTS, UNION (LIMITED BY GUARANTEE)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR EIVDED 31 JUL Y2022
20 ANALYSIS OF NEf ASSETS &￿EEN FUNDS
Analysis of net assets between funds- current period
Unrestrirted
funds
2022
Oesignated
funds
2022
Restricted
funds
2012
Total
funds
2022
Tangible fixed assets
Current assets
Creditors due within one year
Creditors due after one year
159.020
748.841
1352.1341
{38.3331
517.394
159.020
990.126
1352,1341
138.3331
758.679
167,720
73.565
167,720
73.565
Analysis of net Jssets between fvnds-
prior period
Unrestricted
funds
2021
Designated
funds
2021
Restricted
funds
2021
Total
funds
2021
Tangible fixed assets
Current assets
Creditors due within one year
Creditors due after one year
101.307
1.058.877
1397,2771
148,3331
101,307
1,126,442
1397,2771
148,3331
782,139
67.565
714.S74
67.565
21 RECONCILIATION OF NET MOVEMENT IN FUNDS TO CASH FLOW FROM OPERATING AcfiviTIES
Group
2022
Group
2021
Net incomelexpenditure for the period las per SOFA)
123.4601
155,504
Adjustments for:
Depreciation charges
Loss on disposal of fixed assets
Decrease in stocks
Decrease in debtors
(Decreasel in c¥editors
Net cash provided by/lu5Éd in) operating arti¥ities
62.323
230
114.9291
58,197
IS3,8761
28.485
64.578
15,247
73,607
14,734
304,202
22 ANALYSIS OF CASH AND EQUIVALENTS
Group
2022
Group
2021
Cash bn hand
802.540
895,588
Total cash and cash equivalents
802,540
895,588
29

UNIVERSITY OF SUSSEX STUDENTS, UNION {LIMITED BY GUARANTEE)
NOTES TO THE FINANCIAL STATEMENTS ICONTINUED)
FOR THE YEAR ENDED 31 JUIY2022
23 ANALY51S OF CHANGES IN NET DEBT
At l August
2021
Cash
flow5
At 31 Julv
2022
Cash at bank and in hand
Debt due wtthin one year
Debt due after one year
895.588
(1.2671
148.3331
845.988
193,0481
18.7331
10.000
191.7811
802,$40
110,oDo)
138.3331
754.207
24 PENSION CONTRIBUTIONS
The group operates a combined pension Scheme. The assets of the scheme are held separately from those of
the group in an independently administered fund. The pension cost charge represents contributions payable by
the group to the fund and amounted to £62.16412021-. £54.1591. Contribution5 totalling £7.58112021 ." £7.3471
were payable to the fund at the balance sheet date and are included in credrtor5.
25 OPERATING LEASE COMMITMENTS
At 31 July 2022 the Group and the Union ha(1 commitments to make future minimum lease payments under
non-cancellable operating leases as follows..
Group
2022
Union
2021
2022
2021
Noi later than I year
38.814
38.814
557
557
26 RELATED PARTY TRANSACTIONS
One or more trustees have been paid remuneration or received other benefits from an employment with the
charity. These staff members only receive remuneration in respect of services they provide undertheircontracts
of employment. No trustee received any reimbursements for expenditure12021.. Nill. The value of trustees.
remuneration and other benefits was as follows..
2022
2021
20.793
22.696
21,691
22,696
22,696
22.545
1.668
1.668
M Khalid
C Moylett
R Steffen
P Palmano
23,292
25.636
23.280
23,243
26,953
763
1.014
1.014
1.014
1.014
1.014
1.014
129.251
A O'connor
N 8ajwa
Cung
Y J8mes
R Linehan
N Cornell
A Williams
N Tickner
LPem
R Kunisue
136.453
30

UNIVERSITY OF SUSSEX STUDENTS, UNION (LIMITED BY GUARANTEEI
NOTE5 TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JUL Y2022
27 coMfROLLING PARTY
The charitable company is controlled by the Board of Trusiees, who are also directors under company law.
28 PRINCIPAL SUBSIDIARIES
The following was a subsidiary undertaking of the Union
Name
Company Registered office or principol
Number
place of business
02146582 Falmer House. University of
Sussex. Bri8hton. BNI gQF
Prin¢ipJl artivity
University of Susse¥ Students. Union
Trading Limited
Trading Activities
Class ol shares
Ordhnary
Holding
Included in Consolidation
Yes
The financial results of the subsidiary for the year We￿..
Name
Income
Expenditure
Net assels
University of Sussex Students. Union Trading Limited
2.629,179
2.743.275
26,980
31