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