2021-07-31-accounts - University Of Sunderland Students' Union

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		Page
Trustees' report		1-15
Auditors' report		16 —19
Statement offinancial	activities	20
Balance sheet		21
Statement of cash flows		22
Notes to the financial	statements	23-35

Item											31July 2020	31July 2021
Unrestricted		funds									183,04'I	179,364
Pension Reserve											(2,860,685)	(2,846,094)
Restricted	Pension			Reserve —being a fund representing								219,262
the restricted		funding		provided by the		University		to	support
the Union's	pension		deficit payments
Designated		Capital		Fund —being a		fund representing				the	4,044	10,058
net book value offixed assets awned						by the charity
Designated		Pension		Deficit Payment Reserve				—being a			152,018	200,000
fund setting		aside a		contribution to	future		pension		deficit
payments
Designated		Staff Development Reserve-					being	a	fund	to	10,000	4,550
cover staff		learning		and development in			support		of	the
people strategy
Designated		Freshers' Week IT Fund										8,000
Designated		Website		Development	Reserve							5,000
Total Reserves											(2,511,582)	(2,219,860)

					Unrestricted	Designated	Restricted	Total	Total
					Funds	Funds	Funds	2021	2020
				Notes	8	9	8		8
Income from:
Donations					982,679		361,000	1,343,679	987,519
Charitable sc6viiies					104,507			104,507	98,005
Investment income					267			267	2,115
					1,087,453		361,000	1,448,453	1,087,639
Expenditure on:
Chadtable aclivities					1,022,585	6,999		1,029,584	984,147
Recalculation of pension			liability			127,147		127,147	909,457
					1,022,585	134,146		1,156,731	1,893,604
Net movement	in funds		before transfers		64,868	( 134,146 )	361,000	291,722	(805,965)
Transfers				17	( 68,545 )	210,283	( 141,738 )
Net movement	in funds				( 3,677 )	76,137	219,262	291,722	(805,965)
Reconciliation	offunds
Fund balances	brought	forward			183,041	(2,694,623 )	- (2,511,582)		(1,705,617 )
Fund balances	carried		forward		179,364	(2,618,486 )	219,262 (2,219,860)		(2,511,582 )

					2021		2020
			Nates		6		6
Fixed assets
Tangible assets			13		10.058		4,044
Current assets
Stocks				4,628		5.991
Debtors			14	138,656		23,810
Cash at bank and in hand				692.860		386,605
				836,144		416,406
Liabilities
Creditonk amounts	falling
due within one year				( 347,115 )		(213,085 )
Net current assets					489,029		203,321
Total assets less current		liabilities			499,087		207,365
Creditors: amounts	falling
due after one year
Pension liability			16		( 2,718,947 )		( 2,718,947 )
Net assets					( 2,219,860 )		( 2,511,582 )
Funds
Unrestricted funds					179,364		183,041
Designated funds
Capital fund					10,058
Pension Payment fund					200,000		152,018
Pension Liability					( 2,846,094 )		( 2,860,685 )
Freshers' Week ITfund					8,000
Website Development		Reserve			5,000
Stag development					4,550		'I0,000
Restricted fund					219,262
			17		( 2,219.860 )		( 2,511,582 )

				2021	2020
			Notes	6
Cash used in operating activities				313,550	( 47,237 )
Cash flows from investing	activities
Interest income				267	2,115
Purchase oftangible fixed assets				( 7,562 )	( 5,035 )
Receipt from sale oftangible	fixed assets				360
Cash provided by (vsed in) investing		activities		( 7,295 )	( 2,560 )
Change in cash and cash	equivalents	in	the year	306,255	( 49,797 )
Cash and cash equivalents	at the beginning		ofthe year	366,605	436,402
Cash and cash equivalents	at the end	of	the year	692,860	386,605
Cash and cash equivalents	consist of:
Cash at bank and in hand				692,860	386,605

					Unrestricted	Designated	Restricted	Total	Total
				Notes	Funds 8	Funds 8	Funds	2020	2019f
Income from:
Donations					950,519		37,000	987,519	974,000
Charitable activities					98,005			98,005	121,454
Investment income					2,115			2,115	2,176
					1,050,639		37,000	1.087,639	1,097,630
Expenditure on:
Charitable activities					981,778	2,369		984,147	996,475
Recalculation of pension			habiliiy			909,457		909,457	63,596
					981,778	911,826		1,893,604	1,060,071
Net movement	in funds		before transfers		68,861	( 911,826 )	37,000	( 805,965 )	37,559
Transfers				17	(4,704 )	41,704	(37,000	)
Net movement	in funds				64,157	(870,122 )	—	(805,965 )	37,559
Reconciliation	offunds
Fund balances	brought	forward			118,884	( 1,824,50'I )		(1,705,617)	(1,743,176 )
Fund balances	carried		forward		183,041	( 2,694,623 )		(2,511.582)	(1,705,617 )

4.	Donations
						2021	2020
	University	af	Sunderland
	Block grant					934,000	927,000
	Pension deficit			grant (restricted)		361,000	37,000
	Other					45,000	13,000
	Government		grants			3,679	10,519
						1,343,679	987,519
	The government			grants received relates to the JRS daim.
5.	Incoming	resources from charitable			activities
						2021	2020
	Student services			income		85,706	73,866
	Commercial		income			14,801	24,139
						100,507	98,005

8.	Support Costs
						2021	2020
	Finance					52,578	53,718
	Administration					250,163	222,020
	Human Resources					5,340	4,590
	Information Technology					192	300
	Governance (note		9)			5,175	22,678
						313,448	303,306
	Support costs are allocated			based on the overall expenditure	ofthe activities.
9.	Governance
						2021	2020
						K
	Salaries						17,737
	Audit fee					5,175	4,500
	Trustee costs						141
	Other professional		fees				300
						5,175	22,678
10.	Net income/(expenditure)			for the year
	This is stated after		charging:			2021	2D20
						6	6
	Depreciation of	tangible fixed assets:
	-owned by the	chadity				1,549	1,474
	Loss ofdisposal	oftangible		fixed assets			60
11.	Auditors' remuneration
						2021	2D20
							F
	Fees payable to the charity's			auditors for the audit
	ofthe charity's	annual accounts				5,450	4,800

					2021	2020
					6
Wages and salaries					594,266	619.852
Social security		costs			51,653	49,282
Other pension		costs			30,209	3'f,115
					676,128	700,249
The average	monthly		number of employees	during the year was as follows:
					2021	2020
					Number	Number
Direct					3	3
Administration					18	15
Management					4	5
					25	23

The reimb	ursement oftrustees expenses	was as follows:
		2021	2021	2020	2020
		Number	6	Number	6
Travelling	expenses			9	833

13.	Tangtble fixed assets	Tangtble fixed assets		Fixtures,
				Fittings 8
				Equipment f
	Cost
	At 1 August 2020			73,792
	Additions			7,562
	Disposals
	At 31 July 2021			81,354
	Depreciation
	Ai 1 August 2020			69,747
	Charge forthe period			1,549
	Disposals
	At 31 July 2021			7'I,296
	Net book value
	At 31 July 2021			10,058
	At 31 July 2020			4,044
14.	Debtors		2021	2020
	Trade debtors		93,339	9,141
	Other debtors		10,256	973
	Prepayments and accrued income		35,061	13,696
			138,656	23,810
15.	Creditors: amounts	falling due within one year
			2021	2020
	Trade creditors		77,516	15,935
	Taxes and social security		18,640	13,595
	Other creditors		17,098	16,293
	Accrusls and deferred	income	106,714	25,524
	Pension liability		127,147	141,738
			347,115	213,085

'l6.	Creditors: amounts	Creditors: amounts	falling	falling	due more than one year	due more than one year	due more than one year
									2021	2020
	Pension deficit payment			plan	liability			2,846,094		2,718,947
17.	Analysis offunds
	Year ended 31Jui		2021			Brought				Carried
						forward	Income	Expenditure	Transfers	forward
						6	6	F
	Unrestricted fund
	General fund					183,041	1,087,453	( 1,022,585 )	( 68,545 )	179,364
	Designated funds
	Capital fund					4,044		(1,549 )	7,563	10,058
	Pension payment	fund				152,018			47,982	200,000
	Pension deficit				(	2,860,685 )		(127,147 )	141,738	( 2,846,094 )
	Staff developmeni		fund			10,000		(5,450 )		4,550
	Freshers' Week IT		Fund						8,000	8,000
	Website Development			Fund					5,000	5.000
	Restricted funds
	Pension fund						361,000		(141,738 )	219,262
					( 2,511,582 )		1,448,453	( 1,156,731 )		( 2,219,860 )
	Yearended31 Jul		2020			Brought				Carried
						forwardf	Income 8	Expenditure 6	Transfers 5	forward
	Unrestricted fund
	General fund					118,884	1,050,639	( 981,778 )	( 4,704 )	183,041
	Designated funds
	Capital fund					873		(1,533 )	4,704	4,044
	Pension payment	fund				250,000			( 97,982 )	152,018
	Pension deficit				(2,086,210 )			( 909,457 )	134,982	( 2,860,685 )
	Rebrand fund					836		(836 )
	Staff development		fund			10,000				10,000
	Restricted funds
	Pension fund					0	37,000		(37,000 )
					(	1,705,617 )	1,087,639	( 1,893,604 )		( 2,511,582)

Analysis ofnet ass	ets
Year ended 31Jul	2021	Unrestricted	Designated	Restricted	Total
		Fund	Fund f	Fundf	Fund
Tangible assets			10,058		10,058
Cash and current investments		224,042	249,556	219,262	692,860
Other current assets		143,284			143,284
Current liabilities		( 187,962 )	(159,153 )		( 347,115 )
Creditors more than	one year		( 2,718,947 )		( 2,718,947 )
		179,364	( 2,618,486 )	219,262	( 2,219,860 )
Year ended 31Jul	2020	Unrestricted	Designated	Restricted	Total
		Fundf	Fund	Fund	Fund
Tangible assets			4,044		4,044
Cash and current investments		224,587	162,018		386,605
Other current assets		29,801			29,801
Current habilities		( 71,347 )	(141,738 )		( 213,085 )
Creditors more than	one year		( 2,718,947 )		( 2,718,947 )
		183,041	( 2,694,623 )		( 2,511,582 )

	2021f	2020f
Expiry date:
Within one year		2,896
Between two and five years
		2,896

		2021	2020f
Net income for the year		291,722	(805,965)
interest received		(267 )	(2,115 )
Depreciation oftangible fixed assets		1,549	1,444
Profit/(lass) on disposal oftangible fixed assets			60
Decrease/(increase)	in stock	1,363	(2,291 )
Decrease/(increase)	in debtors	( 114,846 )	7,642
(Decrease)/increase	in creditors	134,029	( 753,988 )
Net cash in operating	activities	313,550	(47,237 )