fte8tered Company nunthr. 07695765 (Enind afid Wales) egi5tered Charty numbe¢: 114n42 CONSOLIDATED FINANaAL STATEMENTS FOR UNIVERSITY OF SUSSEX STUDENTS, UNION {LIMITED BY GUARANTEEI FOR THE YEAR END 31 JULY 2023 AD175VFM 1710412024 COMPANIES HOUSE A13
UNIVERSITY OF SUSSEX STUDENTS, UNION (UMITED BYGUARANTEE) LEGAL AND ADMINISTRATIVE INFORMATION Trusiees Riko Kunisue. Offi. Rose Linehan. Officer Niamh Tickner. Officer Maorya Murray, Officer Naina Bahl, Officer Steven Jackson. Officer Lewis Wilson. Student Dannielle Smith. Student Taiwo Olaide Salami. Student Helen Hoogewerf-M¢Comb, External Billy Bryan. External Charlty Number 1147242 Company Number 07695765 Reglstered Office & Prlndpal Address Falmer House University of Sussex Brighton East Sussex BNI 9QF Audltors TC Group The Courtyard Shoreham Road Upper Beeding Steyning West Sussex BN44 3TN Bank Bardays 8ank PIC 77 South Road Haywards Heath West Sussex RH16 4LB
UNIVERSITY OF SUSSEX STUDENTS, UNION (UMITED BYGUARANTEE) CONTENTS Page Trustees, Report IlncorporaD"n8 01ctOrS Report) Statement of Trustees, Responsibilities 15 Report of the IndependentAuditors 16 Consolidated Siatement of Finanual Activities 20 ConsolKlated Balance Sheet 21 Charity Balance Sheet 22 Consolidated Cash Flow Statement 23 Notes to the Financial Statements 24
UNIVERSITY OF SUSSEX STUDENTS. UNION (UMITED BYGUARANTEE) TRUSTEES. REPORT (INCORPORATING THE DIRECTORS REPORTI FOR THE YEAR ENDED 31 JULY 2023 The Trustees present their annual report together with the audited financial statements of the University of Sussex Students, Union for the year to 31 July 2023. The Trustees confimi that the Ann4tal report and financial statements of the charitable company and group comply wtth the current statutory requirements, the requirements of the ¢haTltable companvs governing documeni and the provisions of the Ststernent of Recommended Practice ISORPI applicable to charities preparing their accounts in accordance with the Financial Replfi8 Standard applicab in the UK and Republic of Ireland IFR51021 leffective l January 20191. l. Introducllon Chlef Executlve 2. Our govèrnante and operations 3. Ourimpart 4. Offitèr athièvèments Risk management 6. Sussex Students, Union Annual Report l. Introdurtlon ty Chlel Exe¢udb It ha5 been a tOU8h year for the Students, Union still recovering from the financial losses during the pandemic and ¢han8ing spending habits on campus from both students and staff. plus not having a Chief Executive in place for the majority of it. I was incredibly fortunate to be appnted in late 2022 and l started at Sussex SU in February 2023. The cost of living crisis has had an impact on students and the Union. However, we Saw an increase in students participating in Union activities- sports dubs are oversubscribed and funding for Student groups being well used, we had the highest number of election candidates for a number of years, our student reps are being very active in their schools. Varsity events sold OYL and we had a very successful One World Week and Climate Justice Week. Interestin stats-. 53% of students think that the Union helps students overcome challenges that may prevent them from completing their course • 70% of students that the Stvdents. Union represents the student body when it comes to equality. diversity and inclusion issues • In the 2023 National Student Survey INSSI scores. how well the Union represents students, academi interests. has increased from 50% to 72.3%. a 21.9% increase. That means that we have moved up from 97th Union to 71st 78% of students are either satisfied orvery satisfied with our student rep scheme Governance Revlew In the summer of 2022. the Unbversity of Sussex and the UnNersity of Su$5ex Students, Union commissioned Counterculture to undertake a Bovemance revièw of the Studènts. Union. its relotionship with the UnNersity and its fundin& with the aim of producing a series of recommendations for the Studènts. Vnion and University to consider. The recommendations ¢overthe Union'5 own governan¢e Structure, the relationship with the University. finances and spe¢ifi¢ items such as the responsibility for student eknbon5. The recommendations have provided the Union with a route map for making changes that will have real positive impacts on how the Union represents. supports and answers to students.
UNIVERSITY OF SUSSEX STUDENTS, UNION {UMITED BYGUARANTEE) TRUSTEES, REPORT (INCORPORATING THE DIREcfoRS REPORn FOR THE YEAR ENDED 31 JULY 2023 People As a Union, we recognise that Ivs all about the how. IYS how we show up, how we approach our work, how we step UP. get things done and share our humanity. With University financial support. we started paying the Real LNing Wage. with backdated pay for impacted staff from October 2022. We also completed a 3 year pr<Kes5 on pay and gradin& inueasing the pay of our lowest paid members of Staff and introducing a new. fairer grading strutture In our 2023 Staff Engagement Survey- 81% recommended the Unn as a good place to work, with 94% of 311 3CK) staff completing the suryey. 92% of respondents said that that ¢olleagLFes trust and respert each other and 89%feel that the Union would forgNe an honest mistake There was loads of learning and area5 for impmvement and the Trustee Board aged an action plarb, staff then had an opportunity for what they thought should be the Union's priorities over the coming year and our Chief Executive is charged with making the Union a more divefse, inclusive. welcoming and high perfom)ing organisation. Sussex Students, Union is a Union on the up, with passionate people that want to make students, lives better. The coming year is such an amazin8 OPPOrtUnity to make the Union an or8anisation that students are incredibly proud of. James Hann Chief Executive Z. Ourgovernante and operations Su55ex Students, Union is a Charity. separate from the Uni¥er5ity. The Union is here to represent students io the University and widercommunity, lobbyingthem on students. behatf. We campaign on local, national and international 155ues that matter to students. We exist to make student life beller through our= campai8nin8 free, confidential advice and support hundreds of student led socEties and sports clubs volunteering opportunities shops and bars on campus Each year, six full-time re resentatives called Officers are voted for by students. The Students. Union is a democrati oi nisation and we are led by the eletted Officers. who are paid to do this job. Officers are either recent graduates from Su55ex or Brighton & Susse¥ Medical School18SMSI- or students tsking a year out from their Studies. Officers are democratically elected to ensu that the Students. Union as a whole is always strmng to meet students. chan8ing needs, and respond to students, concerns. Alongside the full-time Officers are several elected art-time officers and reprtsentatives on a ronge of committees - who cdlectively make deasions on behalf of students. We have around 2000 volunteers in a variety of roles such as Society committee chair5, Student reps, and Bad8er newspaper writer5. We also have around 30+ full-time staff and 250+ students who work for us, supportin8 the activities of our elected officers and keepin@ our services running.
UNIVERSITY OF SUSSEX STUDENTS. UNION IUMITED BYGUARANTEE) TRUSTEES, REPORT (INCORPORATING THE DIRECTORS REPORT) FOR THE YEAR ENDED 31 JULY 2023 Ourdirertion is always democratically determined bythe needs of students. We relyon studentfeedback and opinion to direct and assist all the campaigning and lobbying work that we do. Day-ttrday operational and staff manaBement is delegated to the Chief ExecutNe who is accountable to the Trustee Board fty strategy implementation and operational performance. A5 a charity. our activities are overseen by a Trustee r. There are three types of trustee= l. The six full-time Officers 2. Three elected students 3. Thrèè appointed trustee5 The Trustee Board ensures the legal and finanoal Complian of the Union. as well as leading on significant de¢ision5 regarding strategy and operations. As part of the Union's cornmitment to transparenry the Trustee Board agreed in April 2023 that the minutes of the Board would now be made public and available on our website. Tfustees in post during the year were as follow5- Riko Kunisue, Officer Rose Linehan. Officer Niamh Tickner. Officer Maozya Murray. Offir Naina Bahl. Officer Steven Jackson. Officer Lewis Wilson. Student Danielle Smith, Student Taiwo Olaide Salami, Student (resigned 13112120231 Helen Hoogewerf-mccomb. External Billy Bryan, External Cameron Joshi. External (resigned 07111120231 Nera Cornell. Officer Iresigned 13107120231 Liam Pem. Officer Iresigned 13107120231 Aaron William5. Officer (resigned 13107120231 Muthoni Kahyho, Student Ire518ned 13107120231 Amelia Mcmahan, Student Iresi8ned 13107120231 Jacob Whitear, Student (resigned 13107120231 3. Our Smpact Advic The Student Union advicÈ tÈam providÈs advicè on University-related issues and housing for every Sussex 51udent. We offer 5UPPOrt and guidance on various unNersity-related issues such as appeals, academic miscondurts, complaints. and disciplrnaries. We can also connect you with the right people and resource5 for other concerns. • The Adviceseryicesawa 24%increase in casesfrom 202112. 705 ¢asesfor21-22 academicyear. soan increase of 166 Student 5UPPQrt continue5 throughout the year. but some months are parricularly busy. There was a 30 inuea5e in case5 from last year in May 2023 for the Advice team
UNIVERSITY OF SUSSEX STUDENTS, UNION IUMITED BYGUARANTEE) TRUSTEES. REPORT (INCORPORATING THE DIRECTORS REPORT) FOR THE YEAR ENDED 31 JULY 2023 So what aboutthe quality of the advice and student Satisfaction? Reviews from Sussex students.. -1 really loved their service" "Great Servi by the Students. Union. l am really amaze "Great servicel Thank you~ "It was very quick and èasy to b1k a call for the next day. I receNed the call on time and l am very happywith the Jdvice I received. Thank you very mu¢h!- "l am grateful for the 5UPPOrt and quick response." Advice semce was rated 515 by service users mi resentstion Scheme One of the most important functions of the Students, Union 15 to help represent the views of students in educational matters at the University. 2023.. 142 reps werè Èlèrtèd, whith is an Il% irKrèase on 2022 Testimonials from student reps.. "IYS a really inspiring role to fill. represent your fellow students to the best of your abilit "I have enjoyed the ability to connect more with my school and talking with my lecturers a5 an equal to ensure a fulh"Iling student experience- "I have enjoyed the s(Kial side of being a rep. organising socials and making small changes in the departmenv, Te5tirnonia15 from schools about some of the outstanding work the Rep5 have done in 2022/3 Bri8hton & Sussex Medlcal khool We received lots of nominationsforthesu StudentAwards for many student reps in BSMS fortheir dedication to representing students and going the extra mile to influence deosion-making and positive changes wilhin the Khool. Buslnes$ 5¢hool One of the reps set up a really successful social for their cohort and School staff to l)oth build tommunity between students and faolitate a posrtive relationship and opportunity for feedback with staff. Education & 5oual Work Amazing work by one rep in particular, who was dedicated to representing International Students on the MA International Education course. From building community by organising a cultural night where students in thè ¢la5s brought food from different cultures to sharing feedback with relevant stsff toset up additional support for students for whom English is not their first language Englneerlng & Info¢matl<s Amazing work introducing a discord server as a platform to tollertfeedback-the social community they have reated is now over 51JJ+ of their school peers and has been a widespread 5ucce55 for a large majority of the students studying infomiatics! Global Studie5 Successfvlly lobbied to introduce the first Quiet Roorn within the Global Studies Department. which is expected to be ready in May. Introducing a Quiet Room makes the school far more accessible and welcoming to its disabled students, will positively impart ttu¥Jents inthis department for years to come and will hopefully
UNIVERSITY OF SUSSEX STUDENTS, UNION (UMITED BY GUARANTEE) TRUSTEES. REPORT (INCORPORATING THE DIREcfoRS REPORT) FOR THE YEAR ENDED 31 JULY 2023 also inspire other Student Reps to introduce more Qut Rooms across the University, benefitting Sussex as a whole Do¢toral Scho PGR Reps have done a lot of positive work with staff in the doctoral school and the Students, Union to rethink how the rep scheme could function more effettively for postgraduate research student5 Elertion 2023= While the elections weren't without incident the Union successfully delivered a fair election. with some notable incieases in student engagement 6% increase in unique voters for the Spring election 2023 from the previous year 97% increase in number of candidates in the Spring elettion 2023 from the previous year Socletles and Student Media We have supported over 163 Societies and all the 8SMS Societies and 4 Student media groups IURF. UniTV. Badger. and The Ch3nnell. 8elow are some highlights of their atcomplishments= Decolonise Shakespeare organised a full-ale produrtion of Macbeth at the ACCA. They have undertaken important work towards creating opportunities on campus for 5tudent5 from marginalised ba¢k8rounds. The sheer amount of work is in¢redible- $0 many individuals put in to create a community. out of a passion project. South Asian Students, S(xiety won a Student Award for the best Large kale SocTrety Event of the Year for their Diwali lebratiOn event that consisted of Singing and dancing perforniances, as well as dinner and after party with an attendance of 2COtr. For theii Holi and Diwali celebrations, these events brought together many people of different cultures and gave many students the opportunity to celebrate their festivals away from their families. Turkish Society organised inuedible fundraising endeavours. Their work has massively helped survivors of the earthquake in Syria and TUeY and iaised over E8.CKJO in daing so. The Channel Imagazinel continued to expand beyond its yearly print editson, to publish a film zine in partnership with Onecity. 8righton'5 film festival. University Radio Falmer IURF lor8anised two 24 hour broadcasts. in which our committee raised over £7rJ) fof various chaiilies. Sports Club5 We have supported 38 sports clubs this year and he are some of their highlights-. Sussex WIN Varsity 20221 Varsity is an annual sporting competition where the University of Sussex Students, Union sports teams compete against the Brighton Panthers from Brighton University. The Sussex Swallows and Sussex & Brighton Waves eheerleadingteams alsosupported the players in each eventwith some.amazing performances. Cfverall. the tally scores are 14 wins to Sussex and 3 to Brighton.
UNIVERSITY OF SUSSEX STUDENTS. UNION (UMITED BY GUARANTEEI TRUSTEES, REPORT {INCORPORATING THE DIREcfoRS REPORT) FOR THE YEAR ENDED 31 JULY 2023 WINNERS /." 144 I,-.'r' -ING G The Women's Volleyball team won the Women's South Eastern Conference Cup and our Men's Volleyball team won the Men'5 South Eastern fier l title. The Men's Lacrosse team had an exceptional sea50n. remaining Undefeat in the league all season and gaining promotion to the BUCS South Eastern Tier l after their most successful season ever. Boasting wins over Kent122-01, Portsmouth12241. and 6runel121-11 to name just a few. They a150 won the South Eastern Conference Cup, makrng it to the final against St Marfs and a 10-5 win. They capped off the year by winning the very well desefved Yeam of the Yearf award at the Student Awards. "We ore veryproudof thi5 yeorboth on ondoff thepitch. Wehodon tsndefeotsdleogue ondcup runresulting insussex men's locrossefirst everpromotion to the BUQ5 South Eostern Tier l. ond the club's second ever cup rt. Off the pitch we Gre reollyproudofthefundroisers wepirton to 5UPPOrt RISE chority ogoinst domestic violence tsnd movember. We olso orgonised thefirst men s locrosse olumni game ondevent in some time. We ure very hoppy with the yeor we hod. ond excitedfor thefuture ofmen s locmsse otSu55e Presldent Wyottshlplev
UNIVERSITY OF SUSSEX STUDENTS. UNION (LIMITED BYGUARANTEEI TRUSTEES, REPORT {INCORPORATING THE DIRECTORS REPORT) FOR THE YEAR ENDED 31 JULY 2023 %5Q5SEX 15J iljsc Ben Roddick won Sports Personality of the Year at the Student Awards, Ben is the Men's Rugby IXV Captain to startthe year, unfortunately in the 4th 8ame of the season Ben broke his lower leg. Over the course of his recovery he picked up coaching for the 3XV Rugby team and he also completed the Brighton Half Marathon competing for their charity partner. Gra5sro0ts Suicide Prevention. He completed the Half Marathon in a commendable time of 3'.17. it was particularly imwessive when you consider he was on crutches. He also raised over £850. Women's Rugby 1st team fjnished 3rd in the league and had big win5 throughout their season- 52-0 against Kings, 41-0 against King's lagainl. and 39-10 against KI. Their 1st team rounded out their year with a record 98-0 win in varsity against Brighton. Women's Hockey 1st tèam w¢Jn the BUC5 S(Krth Eastem Tier I ttue. A few weeks after securing the league win. the 1st team won 4-0 over Brighton in Varsiry. The 2nd team a150 had an incredible season, winnin8 the South Eastern Tier 4A and remaining undefeated all year. with 10 wins from 10. The Women's Fooib311 team ran the Brighton Half Marathon and held a football tournament to honour Charlotte Swift. who wa5 a member of USWFC until 2020 Iwhen she passed away suddènly).
UNIVERSITY OF SUSSEX STUDENTS, UNION (UMtTED BY GUARANTEE) TRUSTEES. REPORT (INCORPORATING THE DIRECTORS REPORT) FOR THE YEAR ENDED 31 JULY 2023 Sussex Swim entered both the BUSL League and the 8UC5 Long Course Championship, and found success in both. In BUSL they made the finals for the first time in their recent history, and 8ained a few Personal Bests. In the BUCS Lon8 Course competition their men's team won the medley relay. Their 5e3son finished with a varsity win ovei Brighton - the first time that swimming has been a part of vafsity for some time. Swim'5 impressNe year earned them the award for'most Improved aub, at the Student Awards. These are just a few of the sportin8 success stories of the year atsussex. Below you can see a list of all league winners.. BUCS League winners: Volleyball Men - Tier I Hockey Women's Is- fier I Badminton Men's Is- fier 2 Lacrosse Men Tier 2 Football Women's 2s- fier 3 Football Men's 2s- Tier 4 Netball Women's 2s. Tier 4 Hockey Women's 2s- Tier 4 Volun¢eerin8 Budd kheme This academic year the 8udo kheme ran frnm May ?n?2 t? th9 gnd of MJrch 7023. Across thè course of the year we ran 35 events with 934 attendee5 spread acros5 them. Three of these were ticketed trips, and the $t were on-campus events such as Midweek Mingles, Speed Friends, Therapy Dog events and film ni8hts. In total. 761 students got involved wtth the Buddy Scheme this year • Olrt of the 761 sign ups and Buddy Scheme vdunteers, 236 students were poswaduates. Lan The Language Cafe is student led and offers a Spa for students, to learn and practise a language in a 51Kial environment. This year. we ran 20 Language Cafes on Tuesday evenings The Language Cafe had 2014 attendees across the 20 events We offered up to 20 languages including.. Arabic. British Sign Language. Cantonese, English. Finnish, French, German, itslian, Japanese, Korean. Mandarin, N¢)pegian. Persian (Farsil. Portuguese, Romaniar¢, Russian, Spanish. Swedish, Thai and Turkish. French118.9%1 and Japanese114.2%1 were the m05t popular languages Offed, but Romanian110.4%1. newly introduced this year. has proved incredibly popular too. We had 79 Language Cafe Volunteers and 4 Language Cafe Leaders to run the cafe each week. The Language Cafe organised 2 collaborations with the Nordic Society Delivered a Special One World Week Langvoge Café Hosted a 'Cakes and Ladders, thank-you party for the Language Cafe Volunteer5 and Leaders Feedback from participants and volunteers "I wos given the chance to meet new people ond make friends, and le¢¥rn about different bnguages ond culruresl And I was oble to teoch people my lon9uoge!- "Seeing how eosy it is to leom rtewphroses even when you don't speok the languoge ot oll" "learning how to teoch h05 been positive 0$ I'm learning rtew ihino5 oboutmy longuoge as well"
UNIVERSITY OF SUSSEX STUDENTS, UNION IUMITED BY GUARANTEE) TRUSTEES, REPORT (INCORPORAMNG THE DIRECTORS REPORT) FOR THE YEAR ENDED 31 JULY 2023 Pos raduate Network The Postgradua Network rs a new ¢ommunbtyforèll postgraduates and fflature students here at Sussex. The Network develops an artive and vibrant community of postgraduate and mature students. Bèing a part of the Netwo allows students to connect with each other and expand your network. Students. can share your experiences and top tip5 With others and also Bet support and advice from other5. The Network organised 10 meet ups and 3 freshers events took place with 140 attendee5 across these events. Sussex Ni htlin Susse¥ Nightline is a confidential listening service run by trained student volunteers, offering you non- judgmentsl support. The Nightline was available from 10pm to 2am on Fridays. Saturdays. SurKlays during term time to students. The Sussex Nightline trained and supported 30 student volunteers. Campalgns and Community Oryani51ng Contributed to the creation of the Brighton and Hove Citiiens UK Manifesto. and cothotted aeMblieS with Councillors, MPS and decision makers from across the oty. Ran several Community OrganisinB trait)ing se4ions for 5tsff. as well a5 a day-lon8 community organising training for students. with great feedback.. o The knowledge and skills I hove acquftred thmugh the troining have equipped me with o deeper understonding of communityorg0ning ond the tools needed ro effectchonge. l tsm trulygrotefulfor thi5 Opportunity." -1 would like to commend the Student Unionfor theirexceptionol work in orgonisirw ondfo¢ilitoting the truining session. The Union's commitment to creoting O stroftg. well.rounded, ond inclusive communityis evident. ond l om glod to have witnessed o pdrtof it.- Part of city-wide teams campaigning for improving young people's mental health provision. cost of public transport for young people. affordable and equitsble housing and more orBanisations movinB towards being Real Living Wage Employer. • Supported 10-13 studefit-led ¢ampai8n5, with win5 includin8 o Rebates for those afferted by construction noise on campus O Raised awareness on the lack of support prowded to students through abortions, mis¢arria8e5, especially within Exceptional rCumstanceS o Highlighted the challenges of accessing the library for students who requlre a step-free route. Ran demo on this and got over S pages of signatures from staff and Students o Mitie Must Fall campaign worked alongside i)fficer5 to encourage the University to have a more ethical partnership and procuremènt pro¢e$5. o Access Sus*x worked alongside the Universi5 Health and Safety team to make emergency procedyres inclusNe and safe for our disabled students. Sustainablllty: Supportèd Sustainability Committee with the Fossil Free Careers campaign. meeting with kèy university staff to create a policy and Pfocess for this. Set up a new Student Group category- Cooperatives - to support student Br¢)ups who are both providing service to the community and working to make campus more sustainable. Provide them with more fundin& designated staff support and campaign advice. o This includes the support given to ROOTS in their 51te transitions and making the new site fit for purposè. continuing support for Food Waste Cafe with the Community Kitchen and supporting Radical brary in collecting and categorising a large collection of books that students can a¢¢ess for freel Ran a few Free Shop eventsto prevent kitchen and household iiems from going to waste and providing them to incoming students for freel
UNIVERSITY OF SUSSEX STUDENTS. UNION {UMITED BY GUARANTEE) TRUSTEES, REPORT (INCORPORATING THE DIRECTORS REPORT) FOR THE YEAR ENDED 31 JULY 2023 Climate justice Week Climate Justice Week took place and was a week filled with events. workshops. panel discussions, craft and creativity. getting out into nature and strengthening our sense of community on campu5. some events that took place include a talk by the Student Livin8 and Sustainability OffIr about the problematic natuie of the term 'Net Zero,. looking at the devastating impacts of carbon offsetting schemes in the global south and how this is a repeat of colonial and capitalist history.. a clothes swap. free film festival. a trip to the Knepp estate, a workshop on how to make complete compost and maximi5e the availoble habitst for all pdlinators and wildlife. Mual Safety: Worked with CitiiensUK ¢)n their nightlife safety Charter. putting pressure on club5 in town to take responsibility for student safety. Our Safe 5pace5 team met with Labour and Green Councillors and the Chair of the bcen5in8 Committee who made a commitment to work together with venues to introduce ways that ensure the safety of people who engage in night time economy. The group held an Action 'Night Time Safety Charter Partw at Hove Town Hall in March to invite Coun¢illor5 to ¢gmmit to working on the charter. Ran the annual 16 Oays of ArtiVi5m against, in which we ran several Su-bed as well as student SUPPOrt events and raised ¢)vèr £200 for RISE Ilocal charity) Hosted the weekly'Free Wednesdays, stall in Falmer House Reception. Thks 15 a weekly stall in Falmer House Reception that provides students with free period products. contraception. testing kits. pregnancy tests and other sexual heatth products with the goal to improve sex educats.on and tackle period povèrty. Llberation and Race Equlty: Offered support for the International Students, Officer, committee and projert5. As part of the Career Equity Project, the SU supported the Sussex Career5 Entrepreneurship team, alongside feed-in from relevant Student groups to plan caer5 workshopslevents for marginalised group5. Some of the events included"LGBTQ+ panel evenf. an-lnternational Students Mock Intervie%¢ session and "Access at Work" Also supported staff networks! Large growth in the awareness and impact of our BAME Staff Network. U date from Race E Advocates REAS Race Equity Advocates from the Business school and MAH school are running awareness campavdns on campus on BAME awarding gap. They did stslls on library square and running social media campaigns to make students aware of what exartly the awarding gap is and how it impacts marginalised students Race Equity Advocates from both schools are also meeting staff and students to Lbnderstand the causes of awardinÈ gap through one to one5 with Students and running focu5 groups. Race Equity Athocates are also running focu5 groups and BAME students network5 to establish a strong sense of community for students of colour within their school. This prowdes a safe space for students of colour to share their experiences and run collective sessions such as Black authors reading and yoga sessions to make change. The information and stories from these sessions are to inform %hoL)I level Race Equity Plans. Set up Decolonise the Curriculum Working Group which involved collaboration from academics and students Events General Ov•r¥iew Between September 2022 and May 2023, 1,112 student events were hosted in collaboration with the Students, Union. Oe5Plte the challengingstart to theyearwith the death of the Monarch meaninB last minute changes to our Welcome programme. the SU hosted over 140 events during the fsher5. period The Students, Union offered paid opportuntties for student DJ5. bands and event photQ8raphers at some of our biggest events of the year, includin8 Su55ex Festyval, the Pier Party and One World Week io
UNIVERSITY OF SUSSEX STUDENTS, UNION {UMITED BY GUARANTEE) TRUSTEES. REPORT (INCORPORATING THE DIREcfoRS REPORT) FOR THE YEAR ENDED 31 JULY 2023 In line with the cost ol living crisis. the SU offered a Iow-¢05t and often free annval events programme to allow students to meet one another. celebrate key ¢uttur31 and religious periods and get involved withthe Students, Union. Around 75% of our pro8ramme was free The Evertts Team are seeing that a lot of students are keen to go io n¢)n-alcohd based èvents, with the wellbein8 and craft events, and external speaker e4ents being Very popular this year Safety In the Nightfime Efonomv The Nightlife Safety Advocate scheme was created by Sussex Studenvs Union in sponSe to the issues students face in ni8htlife around Brighton. Nightlife Safety Advocates INSAS) are trained Students working independently alongside local nightclubs to PrOde aThJ signkw welfare and support for students on nights out and at our big events In 2022. our Nightlife Safety Advocates supported students on 26 weeks of Epikl Wednesday Student nights at Pryzm. The Student5. Union averaged about 19cQ120 students on the door of Pryzm each week Imostly Sussex but lots of Brighton University students tool and have had really l¢wely feedback from students who have been held. Main themes include: student loneline55 and being left in clubs. sexual assault. alcohol and drug awareness and mental health problems. In collaboration with the Student Engagement team. the SU hosted the fortnightly Sexual Safety Working Group, which induded a mix of students. SU staff & offitsrs. external charities and relevant university staff In 2022, the SU rolled out free bystandertratningto student8roups, worked with Survivors Network to curate more specific consent training for our student groups, took part in the lighting walk of campus and has been Wofking with thè late niBht economy sectorto tsckle the issues students face in the city. We also worked with the bus ¢ompany to look at how we can better 5UPPOrt students late at night and ensure that bus driver5 are accepting students to then prevent them having to walk alone at night Student Awards In 2022 over 100 different student groups and individuals nominated for a Sussex Student Award, with categories including-'Guest Speaker event of the Yearf. Sports Club Committee of the Yearf and'Out5tanding contribution to Student Welfare'l Red Bull li
UNIVERSITY OF SUSSEX STUDENTS, UNION IUMITED BY GUARANTEE) TRUSTEES, REPORT (INCORPORATING THE DIRECTORS REPORn FOR THE YEAR ENDED 31 JULY 2023 Commercial Tradln8 Northfield Bar recoverlng from the pandem• So much has changed since we took over the venue in the Summer of 2018. What started out as a big white canvas with lots of windows and bri8ht white lights, is now becomiro a popular late-night space for students to socialise and meet new friend5. During the academic year of 2022n3. many entertainment and events were hosted at Northfield Bar, both by student staff and student groups associated with the Students, Vnion. One of the most notable events was the screening of the Frfa World Cup 2022 games, where record numbers of students came together to watch the games. Since reopeninÈ after the pandemic, we've invested in makÈng the space more comfortable and swdent friendly. including improvements to the 8arden - new heated booths and a nice bright lick of paint - as well as working with brands on murals and furb additions in the bar itself. Stats 2018119 Orink Sales- £155.78S 2018119 Food Sales- £90.778 2022123 Drink Sales - £228.922 2022123 Fth)d Sales- £90.240 2018119 v. 2022123 Orink Compari50n'. 47% increase ny Rebel Mural, Northfield Bar 12
UNIVERSITY OF SUSSEX STUDENTS, UNION (UMITED BY GUARANTEE) TRUSTEES, REPORT (INCORPORATING THE DIRECTORS REPORT) FOR THE YEAR ENDED 31 JULY 2023 4. Officer athievements 20W3 Successfvlly lobbied the University to respond to construciion noise complaints from students livin8 on campus and the need lor the unir5ty to tske actic • Vocal campaigner on issues impacting students Stated a year process on a combined University and Union strategy on swxt at &Jssex Worked with the Sports. Sooeties and Media Committees, awardin8 over £34,c to student groups Organised the International students focus groLtp about rentin8 in 8ri8hton, so University Housirvd heard the voices of international students Helped drive forward the new International student committee Been important voices in many university and union meetings for international students and the BAME community After lobbying offIr5. the University hired a consultant to price and project-plan a community kitchen on campus Co-hosted the 8righion and Hove Citizens UK Assembly where Labour and Green councillor candidates pledged to ¢ontinue working with us on our campaigns of affordable housin& mental health. safer space. affordable transport Submitted 3 detailed and impactlul report to the University on sidential costs for stvdents in 202415 and worked with part-time officers to push the University to make improvernents on accessible housinB and disability support • Worked with Academic Regulations Team to SUPPOrt international students on overiepresentation of academic miscondurt ca5e5 such a5 plagiarism and referencing Went on an intensive learning trip on behawof the Union to Sandinavia and presented on what we can learn from the trip, including student led events and artivities Submitted the Union'5 Teachin6 Excellence Framework ITEFI student submission Embedding studentvoice and student experience in to UnNersityCouncil meetings. pushin8forto be Students are at the heart of decision5 made by the highest governance body on campus Submitted a report to the Office for Students on experience of sexual harassment and miscondurt to hèlp make national change for students across the country. Gathered dats from 450 students and fomied the 'sussex su mentsl health reporf, which will lay the foundations for the recommendations to be implemented for the next academic year. they include". hybrid cnsellIng sessions, pre-crisis support. more diversity among counsellors. making services easier to access and user friendly Made ¢ommitments to trans and non-binary Sdents and to part time offirS for the coming year Recruited a new Chief Executive Started and concluded a governance review," agreeing an action plan and making delivery a priority for the new Chief Executs've UCU Strike action Joinin8 picket lines, helping provide information to students on the reason5 behind the strike and whv4•*r4th•Wd be supporting it Cost of Livin The eletted officer team ran a hugely su¢¢e55ful event in May in response to the Cost of ts.ving crisis. -Free Wednesdays. was expanded into an all day event held in Mandela Hall where stutlents could ¢ome along and pick up free items. This induded= hot tood. toiletries. study supplies. sexual health products, a clothes swap, information on advrce services. and a tombola • What you might not have seen was the work that the officers did ~behind" the scenes encouraging the University to be active in supporting students duringthÈ costof INin8 crisis. The University £2 meal was officer driven 13
UNIVERSITY OF SUSSEX STUDENTS, UNION (UMITED BY GUARAPITEE) TRUSTEES. REPORT (INCORPORATING THE DIRECTORS REPORT) FOR THE YEAR ENDED 31 JULY 2023 Part.tlme Officers and Representati¥es: Platformed our PTOS on the website. and on social media. InclLrding promoting drop-in hour5 and events thev ran including regular ¢offee momin8s for margirbalised stydents and career support • Worked alongside events team to support PT05 on larger liberatits) periods includin8 Pride March and Cultural Cabaret Team continued to faolitatè workin8 groups with fulktime and part time officers. including setting new working groups. Our working group5 con54St of Students, Officers. University Staff and Students Union staff. these working groups are a space where student issues can be raised by students and stsff and then problem solved 3$ a team to work on making the change5 that are needed. The wothing groups were.. Sexual Safety. LGBTQ+, Student Parent A biE win ¢amè from the LG8TQ+ workin8 where students. dead names will not bè on Sussex Direct, it shows what can be achieved when we have university staff have key roles within these groups 5. Risk m•na8ement TheTrustee Board is responsible fof the Union's risk management and the effecttveness of internal controls. On behalf of the trustees. the Senior Leadership Team performed a review of major risks and presented the outcome and the mitigating measures to the Finance arbd Risk Subcommtttee in April 2023. 6. Sussex StudenW Unlon Annual Report- Audltors Slatement of disclosure to auditor So far a5 each person who wa5 a trustee at the date of approving this report are aware, there is no relevant audit information of which the group's auditor is unaware. Additionally. the trustees individually have taken all the necessary steps that they ought to have taken as directors in order to make themselves aware of all relevant audit information and to establish that the group's auditor is aware of that information. This report was approved bythe Trustee5 on and Signed on their behalf, by-. Steven Jackson Chair of the Trustees Oate.. ?1-3• 24+ 14
UNIVERSITY OF SUSSEX STUDENTS. UNION IUMITED BY GUARANTEE) STATEMENT OF TRUSTEE5' RESPONSIBILITIES FOR THE YEAR ENDED 31 JULY 2023 The Trustees, who I also the directors of UnNersity of Sussex Studènts. Union for the purpose of company law, are responsible for preparing the Trustee5' Report and the account5 in accordance with applicable law and Unrted Kingdom Accounting Standards (United Kingdom Generally Accepted Accouniing Practice). including Financial Reportin8 Standard FRS102 The Financial Reporting Standard applicable in the UK aThJ Republic of Ireland,. Company law requires the Tru5tees' to prepare accounts for each financial year which give a true and fair view of the state of affair5 of the charitable company and youp and of the incoming resource5and application of resources, including the income and expenditure. of the charitable company and group for that year. In preparing these accounts, the Trustees are required to= selert Sultable accounting policies and then apply them ccfflsistentty: observe the methods and principles in the Charities SOAP- make Ivdgements and estimates that are reasonable and prudent- and prepare the accounts on the going concem basis Unle it is inappropriate to presume that the charitable company will CLMtinue in operation. The Tr¢Jstees are responsible for keeping proper accounting records that disclose with reasonablè accuracy at any time the financial position of the charitable company and group and enable them to ensure that the accounts ¢ornply with the Companies Art 2C*J6. 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 irre8ularities. 15
UNIVERSITY OF SUSSEX STUDENTS. UNION {UMITED BYGUARANTEE) REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS Opinion We have audited the finanaal statements of University of Sussex Students. Union I'the charitable companVI and its subsidiary I'the group'l for the year ended 31 July 2023 which comprise the Consolidated Statement of Financial Activities, the Group 83lance Sheet. the Charity Balance SheeL the Cash Flow Statement and notes to the financial statements, including a summary of significant accounting policies. The finanoal reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, induding Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kin8dom Generally Accepted Accounting Practicel. In our opinion, the financial statements- give a true and fair view ol the state of the group's and the parent charitable company's affairs as at 31 July 2023 and of its incomin8 re5ource5 and application of resourtes for the year then ended- have been propedy prepared in accordance with United KTrngdcrfn Generally ACpted Accounting Practice- and have been prepared in accordance with the requirements of the Companies Art 26. Ba515 for opinion We condurted our audit in accordance with Intemational Stsndards on Auditirg IUKI IISAS IUKII and applicable law. Our responsibilities under those standards a further described in the Auditor's responsibilities for the audit of the finanual statements SelOn 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 rn accordance with these requirements. We believe that the audit eviden we have obtained 15 sufficient and appropriate to provide a basis fGY our opinion. Concluslons relatlng to golng concern In auditing the financial statements. we have concluded that the twstees, use of the going concern basis of accountinB in the preparation of the finanoal statements is apwopfiate. 8ased on the work we have performed, we have not identified any material uncertainties relating to events or conditions that. individually or collectively. may cast significant doubt on the chariWs and group's ability to continue as a going concern fora period of at least twelve months from when the financial statements are authorised for issue. Our responsibilities and the spOnsibl11t1es of the trustees with respectto goingconcern are described in the relevant sections of this report. Other Infomiatlon The other infomation comprises the information included in the annual report other than the financial statements and our auditorf5 report thefeon. The trustees are responsible for the other information contained within the annual report. Our opinion on the financial statements doe5 not cover the other infomation and. except to the extent otherwise explicitly ststed in our port we do not express any form of assurance conclusion thereon. Our responsibility is to rèad the other information and. in doing so. consider whether the other information is materiallv inconststènt with the financial statemènts or our knowledge obtained in the course of the audit. or otherwise appears to be matÈrially rnisstated. If we identify such material inconsistencies or apparent material misstatements. we are required to determine whether this gives rise to a material misstatement in the finan¢i•l statements thèmselves. If. based on the work we have perfomed. we condude that there is a material misstatement of th15 Other information, we arè required to report that fart. We have nothing to report in this regard. 16
UNIVERSITY OF SUSSEX STUDENTS, UNION (UMITED BYGUARANTEE) REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS Oplnlons on other matters prescrlbed tythe Companle5 Art 2006 In our opinion, based on the work undertaken in the course of the audit.. the information given in the tru5tee5' report lincorporating the directorf report) for the financial year for which the financial statements are prepared is ccfflsistent with the finan¢ial statements- and the directors. rep(rt has been prepared in accordance wtth applicable legal requirements. Matters on which we are required to report by exception In the light of our knowledge and understandin8 of the Charitab company and group and its environment obtained in the course of the audit. we have not identified material misstatements in the directors, report. We have nothing to report in respect of the following matter5 in relation to which the Ccrfnpanie5Act 2)6 requires us to report to you rf, in our opinion.. adequate accounting records have not been kept. cy retums adequate for our audit have not been receNed from branches not visited by us. or the financial statements are not in agreement with the accounting records and returns- or ertain disc105ures of directors. remuneration specified by law are not made; or we have not received all the information and explanations we require for ouraudit.. or the trustees were not entitled to prepare the financial statements in accordance with the Small companies regime and take advantage of the small companies. exemption in preparing the dirertorfs report and take ad¥aniage of the small companies exemption from the requirement to prepare a strategic report. Responsibilities ol trustees A5 explained more ful in the trustees. respsibilitieS statement, the trustees (who are also the directors of the charitable company for the purposes of company lawl are responsible for the preparation of the financial statements and for bein8 5at15fied that they give a true and fair view. and for such internal control as the trustees determine is necessary to enable the preparation of finanoal statementsthat are free from material misstatement, whether due to fraud or error. In Preparing the financial statements. the trustees are responsible for assessing the charitable compan¢s ability to continue as a going concem. disclosin& as applicablè, matters related to going concern and using thegoing concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operaiions. or have no all$tI¢ ahernative but to do $0. Auditorfs responsibilities lor the aUrt of the fina031 statements Our objettives are to obtain reasonable assuran about whether the financial statements as a whole are free from rnatèrial misstatement. whether due to fraud or error, and to issue an auditorfs report that includes our opinion. RÈason3ble assurantÈ is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAS IUKI 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 finanoal statements. Irregularities. including fraud. are instsnces of non-compliance with laws and regulations. The extent to whTrch our procedures are capable of detecting irregularities. including fraud. is detailed below. Extent to which the audit was comsidered capable of detecting iwTrgularities. induding fr•ud The objettives of our audit. in respert to fraud. are= to identify and a$5essthe risks of material misstatement of the financial statements due to fraud- to obtain Sufficient appropriate audit evidence regarding the assessed risks of material mi5Statement due to fraud. through des48ning and implementing appropriate responses- and to respond appropriately to fraud or susperted fraud idèntified during the audit. However, the primary responsibility for the preventim and detection offraud rests with both those charged with govemance of theentityand its managemenL 17
UNIVERSITY OF SUSSEX STUDENTS, UNION (UMITED BY GUARANTEE) REPORT OF THE INDEPENDENT AUDITORS TO THE MEM8ERS Our approach was as follows= We identified areas of laws and regulations thatcould aSonablY be expected to have a material effect on the financial statements from our general commercial and sertor experlence. and through discussion with the directors and other management las required by auditing standard51, and discussed with the directors and other management the policies and prOdre5 regarding compliance wth laws and regulations: We identified the following areas as those most likely to have such an effett.- health and safety.. General Data Protection Regulation IGDPRI. fraud,. bribery and corruption and employment law. Auditin8 Standards limit the required audit procedures to identify non-ccxnpliance with these laws and regulations to enquiry of the trustees and other management and inspection of regulatory and legal ¢orrespondence. if any. We considered the le8al and regulatory frameworks directly applicable to the financial statements reporting framework IFRS 102 and the Companies Act 2(K6 and the Charities Act 20111 and the relevant tax Complian regulations in the UK- We ¢onsidered the nature of the group's operations. the control environment and bu5ine55 performance, including the key driver5 for managemenys remuneration.. We communicated identified law5 and re8ulations throughout our team and remained alert to any indications of non-compliance throughout the audit.. We considered the procedures and contrds that the group hos established to address risks identified. or thai otherwise prevenL deter and detettfraud,. and how 5enbor management monitors those programmes and controls. Based on this understanding we designed our audit prodUleS to identrfy non-compliance with such laws and regulations. where the risk was considered to be higher. we performed audit procedures to address each identified tr3ud risk. These procedures included.. testing manual journals- reviewing the financial statement disclosures and testin8 to supporting documentation,. pèrforming an31¢al procedures- and enquiring of management, and were designed to provide reasonable assurance that the ftnancial statements were free from fraud or error. Owing to the inherent limitations of an audit. there 15 an unavoidable risk that we may not have detected some material misstatements in the financial statements. even though we have properly planned and performed our udit in accordance with auditing 5tandard5. For example. the further removed non-compliance with laws and regulations lirregularitiesl is from the events and transattions reflerted in the financial Statements. the less likely the inherently limited pfocedures required by aLsditing standards would identify it. The risk is also greater regarding irregularities occurring due to fraud rather than error. as fraud involves intentional concealment. forgery. collusion, omission or misrepresentation. We are not responsible for prevènting non<ompliance and cannot be expected to detert non-compliance all laws and regulations. A further description of our responsibilities for the audit of the financial ststements is located on the Financial Reporting Council's website at". htt www.frc.or .vk Our-wor Audi Audit-and-assurance Standards-and- uidan ianards-and- r-audttor5 Auditors-res onsibilities-for-audi Descri tion-of-auditors- res nsibilitie5-for-audit.as x. This description fomis part of our auditorfs report. 18
UNIVERSITY OF SUSSEX STUDENTS, UNION {LIMITED BY GUARANTEEI REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS Use ol our report This report 15 made solelyto the charitable companrfs members, as a body. in a¢cordance with Chapter 3 of Part 16 ofthe Companies Act 2)6. Ouraudit work ha5 been undertaken so that we might statetothe charitsble company'5 members those matter5 we are required to state to them in an auditorfs report and for no other purpose. To the fullest extent permitteil by law. we do not accept or a$5ume re5F4Jnsibility to anyone other than the charitable company and the charitable compan¢s members as a body. for our audit work, for this report, or for the opinions we have formed. Mark CthnmSns FCCA IniOr Statutory for and on behaw of TC Group Statutory Auditors Office.. Sussex Dated: 19
UNIVERSITY OF SUSSEX STUDENTS, UNION IUMITED BYGUARANTEEI CONSOLIDATED STATEMENT OF FINANCIAL AcrivmES IINCWDING THE INCOME ANO EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 JULY2023 Unre#ri¢ted Deg8nat funds Restrlcted fd$ Total 2023 Totsl 2022 INCOME FROM: Charitable activities Other trading activitie5 Investments Total Sncomt Note5 1,481,769 4.442,713 163.228 238.432 1,883.429 4A42.713 2,663 6.328.805 1,598.283 3,829,418 91 5,927,145 163.228 238.432 5,427,792 EXPENDITURE ON: Raising funds-tradin8 expenditure Charitable activities Tt)tal expen<liiure 3254M8 3.254.888 2,625,680 2.766,672 6,021,5fj0 171.430 171A30 232.480 232.480 3.170.942 6A25.830 2,825,572 5,451,252 Net 5ncome l (expendlture) (8.2021 5,592 (97.0251 123.4601 Transfers betN4een funds 19 Net movement in funds 194A151 (8.2021 5.592 197.0251 123,4601 Re¢ondlSatlon of funds Total funds brought forward 517.394 167.720 73.565 758,679 782,139 Total I5 carried forward 422.979 159,518 79.157 661.654 758,679 The Consolidated Staternent of Financial A¢rivities indudes all gains and losses recognised in the year. The notes on pages 18 to 31 form part of these finanoal ststements. 20
UNIVERSITY OF SUSSEX STUDENTS. UNION (LIMITED BYGUARANTEE) CONSOLIDATED BALANCE SHEEr ASA T31 JULY2023 2023 2022 FIXEO ASSETS Tangible assets ij 121.067 159,020 CURRENT ASSErs Stock Debtors Cash at bank and in hand 15 16 93.120 163.637 715,447 67.766 119.820 802,540 971203 990,126 CURRENT LIABILITIES Creditors due within one year 17 1403.283) 1352.1341 NET CURRENT ASSETS 637.992 TOTAL ASSEfs LESS CLIRREPn UABILMES 689,987 797.012 Creditors: am(bunts fallin8 due after more than one year 18 128.3331 138,3331 TOTAL NEfASSErs 661.654 758,679 CHARIry FUNDS Restrirted funds Desi8nated funds Unrestricted funds 19 79.157 159,518 422.979 661.654 73,565 167,720 517.394 758,679 The Group was entitled to exemption from audit under Secti 477 of the Companies Att 2006. The members have not required the entity to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006. However. an audit is required in aordanCe with section 151 of the Charities Act 2011. The Trustee5 Kknowled8e their responsibilities for compIng with the reqyifements of the Act with respect to accounting record5 and preparation of financial statements. The finanoal statements have been prepared in accordance with the provisions applicable to entities subject to the small companies regime. The linancial statements were approved and authorised by the Board of Tmstees ¢)n ¥,s.tynd signed on their behalf by.. Steven Jxkson Company Number- 07695765 21
UNIVERsrrY OF SUSSEX STUDENTS. UNION (UMITED BYGUARANTEE) CHARITY BALANCE SHEET ASAT31 JULY2023 2023 2022 Notes FIXED ASSETS Tangible assets Investments 20.876 22,795 14 20.878 22,797 CURRENT ASSETS Oebtors Cash at bank and in hand 16 259.%5 427,702 687.667 198.361 601.049 799,410 Creditors due wthin one year 17 1116.205) 190.5061 14ETCURREiif AssErs 571062 708.904 TOTAL A55ET5 592.340 731.701 CHARifi FUNDS Restricted fvnds Designated funds Unrestricted tunds 19 79.157 159.518 353.665 592,340 73.565 167,720 490.416 731.701 The Union wa5 entitled to exemption from audit Under Section 477 of the Companie5 Art 20C6. The members have not required the entity to obtsin an audit for the year in question in accordance with section 476 of the Companies Act 20C6. However. an audit is required in accordan with section 151 of the Charities Act 2011. The Trustees acknowledge their responsibilitie5 for complying with the requirements of the Act with respert to accounting records and preparation of financial statements. The financial statements were approved and authori5ed by the Board of Trustees on behalf by.. nd signed on their Stèvtn Jackson Company Number- 07695765 The notes on pages 18 to 31 form part of these finanaal statements 22
UNIVERSITY OF SUSSEX STUDENTS. UNION (UMITED BYGUARANTEEI CONSOLIDATED CASH FLOW FOR THE YEAR ENDED 31 JUL Y2023 2023 2022 Cash flows from operatini artivilies Net cash used in operating artivities 21 1613191 28,485 Cash flows fram In¥estlng actl¥rylles Purchase of tanble fixed assets 125,7741 1120,2661 Net cash used In Investlng actlvttles 125.774) 1120.2661 Cash flows from flnanclng actl¥ltles Repayments of borrowings 11,2671 Cash inflows from new borrowings Nel cash protsrfded by financSng actliities 11.2671 Change Sn cash and cash equlvalents in theyear 187.093) 193,0481 Cash and cash equNalents at the beginning of the year 802.540 895.588 Cash and fash equivalents at the end of the year 715A47 802,540 The notes on page$ 18 to 31 fomi part of these finan¢ial statements 23
UNIVERSITY OF SUSSEX STUDENTS. UNION {UMITED BYGUARANTEEI NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JUL Y2023 STATUTORY INFORMATION The Union 15 a cornpany14mited by8uarantee. The memters rfthe companyarethe Trustees named on the legal and admin information pa8e. In the event of the union being wound up. the liability in respect of the guarantee s limited to £1 per member of the Union. ACCOUNTING POUCIES 2.1 Basis of preparatl¢)n of financial statements The financial statements have beerb prepared in actordance with Charities SORP IFRS1021- Accounting and Reporting by Charities.. Ststement of Recommended Prattice applicable to charities preparing their accounts in accordance wth Financial reporting Standard applicable in the UK IFRS 1021 (effective l January 20191. the Financial Reporting Standard applicable in the UK IFRS 1021 and the Compans Art 2006. The financial Statements are prepared in sterlin& which 15 the functional curfency of the tharity. Monetary amounts in these financial statements are rounded to the nearest pound. University of Sussex Siudents. Union meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cast or transaction value unless otherwise stated in the relevant accounting policy. The Consolidated Statement of Financial Artivities ISOFAI and Consolidated Balance Sheet consolidate the fbnancial statements of the Union and its subsidiary undertaking. The results of the subsidiary are consolidatèd on a line by line basi5. The Union has taken advants8e of the exemption allowed under section 408 of the Companies Act 2(KJ6 and has not presented its own Statement of Financial ArtNitie5 in these financial statements. 2.2 Going Concem At the time of approving the financial statements. the trLtstees have a reasonable expertation that the Union has adequate resources to ttjntinue in operational existence for the foreseeable future. Thus the trustees Continue to adopt the going Conrn basis of accountin8 in preparin8 the financial statements. 2.3 Intome All income is recognised once the Union has entitlement to the income, it t5 probable that the income will be received and the amount of income weivable can be measured reliabty. Grants are included in the consotidated 5tstement of financial activities on an accruals basis. The balan of income received for specific purposes but not experded during the period 1$ shown in the relevantfunds on the Balance Sheet. Where inrome is received in advance of entitlement of receipt. its recognition 15 deferred and included in creditors as deferred tncome. Where entitlement occurs before income is received. the income is accrued. Gifts in kind donated for distribution are induded at valuation and recognsed as income where they are distributed to the projects. Gifts donated for resale are induded as income when they are sold. Where the donated @ood is a fixed asset it is measured at fair ¥alLre. unless it is impractical to measure this reliably, in which case the cost 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 class and depreciated over the Useful econGYnic life in accordance with the Union's accounting policies. 24
UNIVERSITY OF SUSSEX STUDENTS, UNION (LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED} FOR THE YEAR ENDED 31 JUL Y2023 2.3 Income Icontlnuedl On receipt, donated professional services and faolities are recognised on the basis of the Val of the gift to the Uni¢)n which is the amount it would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market- a corresponding amount is then recoÈnised in expenditure in the period of receipt. Income tax recoverable in relation 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 15 rec¢Jgni5ed atthe tirne the investment income is receivable. Other income is recognised in the peri1 which it 15 re1¥able and to the extent the goods have been provided or on ¢omplety'on of the service. 2.4 Expenditure Expenditure is recognised once there is a legal cy construrtive cl>ligation to transfer economic benefft to a third party, it is probably that a transfer of economic benefrts will be required in settlement and the amount of the obli8ation ran be measured reliably. Expenditure is clas&fied by 3thty. The costs of each artivity are made up of the totsl of dirert costs and shared costs. induding supwt Costs irn)d in LM)dertakin8 each activity. tlrect Costs attributable to a single activity are allocated direct to that actNty. Shared costs whith contribute to more than one activity and suppcrt Costs which a not attributsble to a single artTrJity are apporboned befvleen those activittes on a ba&sconsistentwththe use of resourtès. Central staff costs are allocated on the basis of timespend. and depreciation charges allocated on the portion of asseV5 use. Expenditureon raisingfunds includes allexpenditure incurred bytheGroup to raisefundsfor itscharitable purposes and included costs of all fvndrai5ing artNities events and non<haritsble trading. Exwnditure on charitsble activf(ies is incurred on dreCt undertaking the actNib"es whith further the Groups objecty"ve5, a5 well as anya550Ciated support costs. l expenditure is indvswe of irrecoverable VAT. 2.5 Intfftst rtceivable Interest on fund5 hdd on deposr( is irKluded when receiv3¢ aNI the amount can be measured reliabfy by the Group.. this is nom)ally upm nobficati of the interest paid ty payable by the institution with whom the funds are deposited. 2.6 Tanglble fixed assets and deprttiation Tangible fixed assets costing £5 or more are cawtalised and reccygnised when future economi¢ benefits are probable and the cost or value of the asset can be measured reliably. Tan8ible fixed assets are initially reci%ni5ed atcost. After reccffnition. underthe cost mcdel, tsngible ffixed assets are rnea5ured at cost less accumulated depreciation and any accumulated impairment1055es. All c05t5 incurred to bring a tangible asset into its intended workrngcondition sh(wld be included in the measurement of cost. At each reporting date the Uni¢J) assesseswhetherthere is any indication of impaimienL If5h indication exists. the recoverable amount of thè assÈt is detemiined to bè the hh*r of tts fairvalue less costs to sell and its value in use. An impairment105S 15 recoanised where the carryin8 amount exceeds the recoveoble amount. 25
UNIVERSITY OF SUSSEX STUDENTS, UNION (UMITED BYGUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JUL Y2023 ACCOUNTING POUCIES (contihued) 2.6 Tanglble fixed and depreciation Iclxrtinuedl Depreciation is charged $0 as to allc*ate the c(Y5t of tar8ible fixed assets less their residual value over their estimated useful lives, using the straight-line method. Depreciation is prrNided on the following bass: Fixtures and fitbngs Office equipment Computer equipment ieties and clubs equipment 20-33% straight line 2(V33% straight line 21>33% straight line 20-33% Straight line 2.7 Inlments Fixed asset investments are •fom) of financial instrumentand are initialty recognised at their transartion c05t and subsequently measured at fair value at the Balance Sheet date. unless the value cannot be measured liablY in which case it Is measured at cost less impairment. Investment gains and losses. whether realised or unrealised, are combined and presented as 'GainsllL055esl on imie5tments' in the Cortsolidated Statement of Financial Attwities. Invesiments In subsidiaries are valLEed at cost less provision for impairmenL 2.8 Stocks Stocks are valued at the lowerof cost and net reali5able value aftèr making due allowance for obsolete and slow- moving stocks. Cost included all direci costs and an apprOPrte proportion of fvAed and variable overheads. 2.9 Debtor5 Trade and other debtors are 0@niSed atthe settlement 3moJnt after anytrade discount offered. Prepayments are valued at the amount prepaid net of any trade di5c(wnts due. 2.10 Cash at bank and In hand Cash at bank and in hand indude cash and shcrt-term highly liquid inve5trnents with a short maturtty of three months or less from the date of acquisition or openingof the deposit or similar account. 2.11 Uabilitle5 and provlslM5 Liabilitie5 are recognised when there 15 an obligation at the Balance Sheet date as a result of a past event. it is probable that a transfer of economic benefit wll be required in setdernent, and the amount of the settlement can be estimated reltabty. abilities are reccenised at the amount that the Union anticipate5 it will pay to Sett the dèbt or the amount it has reived as advanced payments for the goods orseryices it must provide. Provision5 are measured at the best estimate of the am¢>unts required to sethe the obligation. Where the effert of the time value of money material, the provision 15 based on the present value of those amounts. disc¢)unted at the pre-tax discount rate that reflects the risks specrfic to the liability. The unwsnding of the discount 45 recognised in the Consolidated Ststement of Finanaal Activitiès as a finance cost. 26
UNIVERSITY OF SUSSEX STUDENTS, UNION (LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENT5 ICONTINUED) FOR THE YEAR EAIDED 31 JUL Y2023 2 ACCOUNTING POUCIES lcontlnwti 2.12 FTrnancial instruments The Group onty has finanoal assets and finanoal liabilities of a knnd that qualify as basic finaftual instruments. Basit financial instruments are initi.ally recwised at tr•nsathn value and svbsequendy rnea5ud at their settlement value with the e¥ception of bank loans which are 5ubsequentty measUd at amcrtised c05t using the effertive interest method. 2.13 Operatlng leases Rentals paid under operating leases are charged to the Consolidated Statement of Financial Activities on a straight line basis over the lease term. 2.14 Penslons The Group operates a defined contribution pension scheme and the pension charge represents the amounts payable bythe Group tothe fund in respectof the year. 2.15 Fund accounting General funds are unrestrirted funds which are ava41able for use at the discretion of the Trustee5 in furtherance of thè general objertive5 of the Group and whith have not been de%nated for other purposes. Restrirted fund5 are funds whith are to be used in accordan¢e with specific restrictions imposed by donor5 Qr whi¢h have been raised by the Group for partycular purp05es. The costs of raising and administering such funds are ¢har8ed a8ainst Such funds are tharged •inst the spÈtific fwd. The aim and use of ea¢h restrirted fund is set in the notes to the fin•noal statemen INCOME FROM CHARITABLE Acf1vE5 D*signated funds 2023 Total funds Total funds 2022 funds 2023 fund5 io 2023 University Brant-general funds Urtiver5ity- other funding Other grant income Auwities, clubs and societies Membership fees 1.234,IXJO 1,234JXX> 1,234, ZOZ.856 ZOZ,856 238,432 155,856 9,530 238,432 2,628 163.228 316,426 42.285 1,481.769 1,421.646 42.285 1,883,429 1,598.283 38,327 1,598,283 163.228 176.637 238,432 Total 2022 27
UNIVERSITY OF SUSSEX STUDENTS, UNION {UMITED BY GUARANTEE} NOTES TO THE FINANCIAL STATEMENTS ICONTINUED) FOR THE YEAR ENDED 31 JUL Y2023 OTHER TRADING ACTNMES Unrestrirted fvnds 2023 Designated fvnds 2023 RestThcted lunds 2023 Total ld$ 2023 Total funds 2022 University- accommodati. utilities and cleaning Other grant income Catering and lettin85 management charges Other income Sales and operating income Publications and advertising 786.1K)O 786.000 786,OC(I 12,618 835.834 9x1322 990.322 70.157 2A75.429 120.805 4.442.713 3,816.800 70,157 2A75.429 120.805 4A42.713 3,829,418 50.416 2,053,842 90,708 3,829,418 Total 2022 12,618 INVEsrmETr INCOME Unrestrirted fur 2023 Degnated funds 2023 Restrfrted funds 2023 Total funds 2023 Total funds 2022 Invesknent income 2.663 2,663 91 ANALYSIS OF EXPENDITURE ON CHARITABLE AcrvmES BY FUND Unrestrirted Ileslgnated funds funds 2023 2023 Restricted funds 2023 Total funds 2023 Total funds 2022 Representation and dem¢xra¢y (Note 71 Publications INote 81 Artivities, clubs and societies (Note 91 Governance costs INote 101 840.028 30J83 870.411 824,653 340A03 IW,841 540,403 1.686.435 331.414 1,638,870 171.430 11.164 82.400 2.766.672 2,616,738 191.293 232,840 6.618 273,693 3.170,942 2.825.572 30,635 2.825,572 159,964 202.216 Totsl 2022 28
UNIVERSITY OF SUSSEX STUDENTS. UNION {UMITED BYGUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JUL Y2023 EXpENRE ON CHARITABLE ACTivmES Unrestrirted Deslgnatsd funds hinds 2023 Restrfrted lunds Totsl lunds 2023 Total funds 2022 Representatlon and democracy Permanent staff costs Sabbatical officers NUS affiliation Campaigns and conference5 Support costs 18OJ67 149.766 24.680 16,*1 467.814 840.028 818,035 180.867 149.766 24.680 47,Z84 467.814 870.411 824.653 164,659 149,171 24.000 22,697 464.126 824.653 30,333 6.618 Total 2022 EXPENDITURE ON CHARITABLE Acf4VITIES ICOIfflNUEDI Unrestrirted Deslgnatell funds funds 2023 2023 Restrfrted Total funds 2023 Total funds 2022 Publications Permanent staff c05ts Administrative ¢osts Student rnedia Union marketing Web51te Support costs 60.551 291 23,6ZI 5,911 34,953 215.076 340.403 331.414 60.551 291 23,621 5.911 34.953 215.076 340,403 331.414 72.415 121 10,234 5,131 30,132 213,381 331.414 Total 2022 EXPENDifuRE ON CHARifA8LE AcllviTIES (CONnNUED) Unrestrlcted funds tlesl817ated Restrfrted funds funds 2023 Total funds 2023 Total fund5 2022 Acriv1Es. CLU85 AND SIKifiES Permanent staff costs Administration Entertainments. expenditure & events Fresher5 week events Sports ¢lub expenditure Sports dub funding Club and society expenditure Club and society fundrai5in8 BUSA and regional affiliation Support costs 104.490 1.771 104.490 1,771 23,253 iii.lsi 2.472 31.138 98.181 627 177.9n 2a1 94181 11,791 177,973 231 171.430 15,807 1.081.508 1.686,435 1,638,870 91,841 11,859 101.734 413 202,216 13.064 1.072.982 1,638.870 11,164 171A30 15.807 IMI.508 1.515,307 1.436,654 171.430 202,216 11.164 Total 2022 29
UNIVERSITY OF SUSSEX STUDENTS. UNION (UMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 JUL Y2023 10 EXPENDITURE ON CHARITABLE A1vEs ICONfiNUED) Unrestrlrted Designated lunds funds 2023 2023 Restrlrted fund5 2023 Total funds 2023 Total fvnds 2022 G(wernance costs Audit and accountsncy Consultancy services Professional services Support ¢osts 8.3CO 21,959 376 73.887 73.887 13 191.293 273,693 30.63S 191.293 191.293 814ts) 30.635 30.635 Total 2022 11 AUDITOR'S REMUNERATION Totsl 2023 Total 2022 Fees payable to the Union's current auditor for the audit 14.500 14,250 12 STAFF COSTS Group 2023 Group 2022 Unlon 2023 Unlon 2022 Wages and salaries Social security costs Contribution to defined contribution pension schemes 147S 156A59 2.172,896 135.187 1.287AZ2 105.671 1.106.330 93,503 4&Ui 62,164 29,235 43.826 2.680,280 2.370.247 1.422.328 1.243.659 The average number of person5 employed by the Unim duringthe year was as follows.. Group 2023 No 35 io 45 Group 2022 No 38 12 50 Union 2023 Union 2022 No 38 University of Sussex Students, Union University of Sussex Students Union Trading Ltd 38 38 38 The number of employees, whole benefits le¥duding empl¢)yer pension costs) exceeded £60.(m was.. Group 2022 Group 2021 No In the barhd £70,l- £80,( All key mana8ement personnel for the year are the Trustees. CEO (from February 20231, Interim CEO, Deputy CEO. Director of Digital Engagement, Head of Finance, Head of Central Support and Interim Head of Commercial Operations. The aggregate remuneration of key management personnel was £490,09612022.. £427,652). 30
UNIVERSITY OF SUSSEX STUDENTS, UNION (UMITED BYGUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JUL Y2023 13 TANGIBLE FIXEDASSETS Freehold Office Comwter Equipment Total Group Fittings Equipment Cost or Valuation At l August 2022 Additions 464,540 12.590 174.8921 402238 154,552 4.838 19.2241 150.166 87,351 8,346 112.0711 83.626 706.443 25,774 196.1871 636.030 Disposals At 31 July 2023 Dépreciation At l August 2022 Charge for the year Disposals Al 31 July 2023 359.693 114.309 73.421 547,423 63.727 196.1871 514.963 42,469 174.8921 327270 13.830 19,2241 118.915 7.428 112,0711 6&778 Net book value At 31 July 2023 At311uly2022 74,968 31.251 14.848 121.067 104,487 40,243 13,930 159,020 Freehold Offite Computer EquSpment Total Unlon Flttirys Equlpment Cost or Valuatlon At l August 2022 Additions 119.129 15,453 1.385 11.8981 14,940 87,351 8.346 112.0711 83.626 221.933 9,731 137.6881 193,976 Disp05als At 31 July 2023 123.7191 95.410 Depreclatlon At l August 2022 Disposals Charge for the year At 31 July 2023 111,016 123.7191 3.780 91.077 14,701 11,8981 442 73,421 112,0711 7.428 199.138 137.688) 11,650 173,100 13,245 6&778 Net bookvalue At 31 July 2023 At 31 July 2022 4333 1.695 14.848 20.876 8,113 752 13,930 22.795 31
UNIVERSITY OF SUSSEX STUDENTS. UNION (UMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JUL Y2023 14 FIXED ASSEr It4VESMENTS Investments In subsidiary companv Unlon Cost w valuatlon At l August 2022 At 31 July 2023 Net book ¥alue At 31 July 2023 At 31 July 2022 15 sfocKS Group 2023 Group 2022 Finished goods and goods for sale 93,120 67.766 16 DEBTORS Group 2023 Unlon 2022 2023 2022 Due wlthSn one year Trade debtors 67.231 50.831 53,942 9,773 143,717 28.273 16.598 Amounts owed by group undertakings Other debtors 139.532 9,7(X) 56,791 259,965 39.454 29.535 Prepayments and accrued income 71897 163.637 119,820 198,361 17 CREDITOR5: AmoUTrs FAWNG DUE WITHIN ONE YEAR Grnup 2023 Union 2022 2023 2022 Bank loan and overdrafts io.( 10.000 Trade creditors 100.182 70,833 23,041 199,227 403.283 101,107 61,899 18,320 160.808 18.022 35.178 7,962 55,043 22.908 21,224 6,252 40,122 90,506 Other taxation and social security Other creditors Accruals and deferred income 352.134 116.205 32
UNIVERSITY OF SUSSEX STUDENTS, UNION (UMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JUL Y2023 18 CREDtTOR5: AMOUNTS FALLING DUE AFfER ONE YEAR Group 2023 Unk¥n 2022 2022 Bank loan and ovefdraft5 28.333 38.333 28.333 38.333 The loan rs a Coronavirus Bounce Back Loan. The loan is repayable in equal instalments over 60 months. The loan is interest free for the first twelve months. 19 STATEMENT OF FUNOS Bal•¢e at IAUD 2022 Kome Expenditure Transfers Balan¢e at 31 July 2023 Unrestri¢ted funds General funds 517.394 517.394 5.927.145 I6.021.5> 5.927.145 16.021.560) 422,979 422.979 Des18nated fvnds Clubs & Societies 167,720 167.720 163.228 163.228 1171.4301 1171.4301 159,518 159.518 Restrlcted funds University Brant Sussex fund (Alumnil Community social fund Role models Sport projerts Good nighi owls BAME ambassador Interim strurture IT licences Ambulance ¢(wer Real Living Wage 5,693 25.267 626 9.820 476 1.351 24,332 5,693 25.267 626 476 17.576 10,259 21 10,691 21.() 15.6191 124.7641 127.OWI 11.164 164,293 238,432 {11.1641 1164,2931 1232.8401 73,565 79.157 Totsl funds 758.679 6328.WJ5 (6.425UI) 661.654 33
UNIVERSITY OF SUSSEX STUDENTS, UNION (UMITED BYGUARANTEE) NOTES TO THE FINANCIAL STATEMENTS ICONTINUED) FOR THE YEAR ENDED 31 JUL Y2023 19 STATEMENT OF FUNOS (COPfflNUED) Staternent of lunds prloryear Balance at l August 2021 Incoffle Expendlture Transfers Balance at 31Ju 2022 Unrestricted funds General funds 578.525 578,525 3.S44.390 13.408.341) 3,544,390 3,408.341 714.574 714.574 Restrirted furKIs University grant Sv55ex fund (Alvmnil Community sooal fund Role rnodels Sport projects Good night owls BAME 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 9.600 78,390 139.790 132.3451 19.6001 178,3901 1120.3351 48.110 67,565 Total funds 626,635 3,684.180 {3,528,676) 782,139 The Sussex Fund (Alumni) provides the Student Union with funding to support projects that enhance the student experience. Role Mode15 the Union receives funding for expert5es and for I 2 stsff members to run the Role Models programme. The programme is a peer mentoring scheme within local schools. where out university students run workshops for their young students on Mental Health and Wellbein8. The Communlty Sodal Fund was again a proposal for a number of different student society projects. almost all of whi¢h were completed in the year. Sports Projett IRFUI is to deliver Social and recreational rugby sessions on campus that appeal to, and engage, new partiopants. and those returnin8 to the sport. Good Night Owlsto train and support Student volunteers to 80 1)ut late at night in Brighton to help students in trouble while out on the town. BAME AmbassadorlRa¢e equity to gather feedback frcth BAME students on how lifelstudent experience can be improved for BAME students on campus. Resilience Skills (Lottery fwKI) is for resilience skills traini to be delivered to Sussex Student Union Staff. 34
UNIVERSITY OF SUSSEX STUDENTS, UNION (LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JUIY2023 20 ANALYSS OF NEfASSEfs BETWEEN FUNDS Analysis of net assets between funds- current peTi¢)J Unrestricted fund5 2023 Designated fund5 2023 Restrirted funds 2023 Total funds 2023 Tangible fixed assets Current assets Creditors due within one year Creditors due after one year I2167 733,528 1403.283) 128.333 422.979 121,067 972.203 1403.2831 128.3331 661.654 159.518 79.157 159,518 79.157 Analysis of net assets betsveen funds- prior period Unrestricted lunds 2022 Designated funds 2022 Restricted funds 2022 Total fund5 2022 Tangible fixed assets Current assets Creditors due within one year Creditors due after one year 159,020 748.841 (351.1341 138.3331 517,394 159,020 990.126 1352.1341 138.3331 758,679 167.720 73.565 167,720 73,565 21 RECONCILIATION OF NEf MOVEMENT IN FUNDSTO 14ET CASH Flow FROM OPERATING A1vlEs Group 2022 Group 2021 Net incomelexpenditure for the period las per SOFA) (97.0251 155.504 Adjustments for. Depreciation charges Loss on disposal of fixed assets Oecrease / lincreasel in stocks Oecrease I lincreasel in debtors IDe¢reasel l in¢fease in Creditors et cash provided byllused In) operatlng artlvltles 63,727 64,578 (25.3541 (43,8171 41.149 (61.3191 15.247 73,607 4,7341 304.202 22 ANALYSIS OF CASH AND CASH EQUIVALENTS Group 2023 Group 2022 Cash in hand 715.447 802,540 Total cash and cash eqwvalents 715A47 802,540 35
UNIVERSITY OF SUSSEX STUDENTS, UNION IUMITED BY GUARANTEE) NOTES TO THE FINANCIAL 5TATEMErirs {CONTINUED) FOR THE YEAR ENDED 31 JUL Y2023 23 ANALYSIS OF CHANGES IN NET DEBT At l August 2022 Cash flow5 At 31 July 2023 Cash at bank and in hand Debt due within one year Debt due after one year 802.540 {lo.i) {38333) 754.207 (87,0931 715.447 (lo.0) 128.3331 677.114 10,00 177m31 PENSION COTrITRIBUTIONS The group operates a combined pension scheme. The assets of the scheme are held separately from those of the group in an independently adminittered fund. The pension cost charge represents contributions payable by the group to the fund and amounted to £35.37112022.. £62.1641. Contributions totslling £9.31012022 '. £7,581) were payable to the fund at the balance sheet date and are included in creditors. 25 OPERATING LEASE COMMITMENT5 At 31 July 2023 the Group and the Union had commiknents to make future minimum lease payments under ntsn-cancellable operating leasès as follows-. Group 2023 Union 2022 2023 2022 Not later than l year 25.876 38,814 25.876 38.814 26 RELATED PAIITY TRANSACTIONS One or more trv5tees have been paid remuneration or received other benefits from an employment with the charity. These staff members onlyreceNe remuneration in respect of servicesthey provide undertheir contract5 of employment. No trusiee received any 1MbUr$ementS for expenditure12022". Nil). The valve of trustees, remuneration and other benefits was as follows= 2023 2022 C Moylett P Palmano A O'connor N Bajwa Cung Y James R Linehan 23.292 25,636 23.280 23,243 26.953 763 1.014 1,014 1.014 1,014 1.014 1,014 24,336 23.664 23.747 24.841 21791 24.462 1025 1,871 2.025 149.762 N Cornell A Williams N Tickner LPem R Kunisue M Murray N Bahl S Jack50n 129.251 36
UNIVERSITY OF SUSSEX STUDENTS. UNION (UMITED BY GUARANTEE} NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JUL Y2023 27 copifROLLING PARri The charitable company 15 controlled by the Board of Trnstees. who are also directors under company law. 28 PRINCIPAL SUB5101ARIES The following was a subsidiary undertaknng of the Union Name Compary Relisred office of prfndpal Number place of business 02146582 Falmer House. UnNersity of Sussex, Brighton, BNI 9QF Prfndpal acllv5ty University of Sussex Students. Unton Trading knmited Trading Activitles Class of shares Ordinary Holdin Indudd in ¢rywlidation Yes The finandal results of the subsidiary for the year were- Name In¢omt Expendituwe P4et assets University of Sussex Students. Union Tfadirvd Limited 3,303.360 3.261.024 69,316 37