## ## ## ## ## ||||Page| |---|---|---|---| |Trustees'|report||1-16| |Auditors'|report||17—20| |Statement|offinancial|activities|21| |Balance sheet|||22| |Statement|ofcash flows||23| |Notes to the financial||statements|24- 36| ## ## ## ## ## ## ## ## |Auditors||||Haines Watts North|Haines Watts North|East Audit LLP|East Audit LLP|| |---|---|---|---|---|---|---|---|---| |||||17Queens|Lane|||| |||||Newcastle|upon Tyne|||| |||||NE1 6SU||||| |Bankers||||NatWest||||| |||||Sunderland|Branch|||| |||||52 Fawcett|Street|||| |||||Sunderland,|SR1 1SB|||| |Advisers||||Counterculture
Partnership
LLP
Unit 115||||| |||||Ducie House||||| |||||Ducie Street||||| |||||Manchester|M1 2JW|||| |||||DAC Beachcroft LLP||||| |||||3 Hardman|Street|||| |||||Manchester|M3 3HF|||| |Key Management||Personnel||||||| |The Union employs a Chief Executive
ofthe charity as head ofa management||||to work closely with the Trustee Board and ensure effective man
team asfollows:||||| |Chief Executive (8 Company|||Secretary)|||Colina Wright (to 11February 2022)||| |Head ofStudent Engagement||||||Katherine
Cooper (from 11February 2022)
Cass Winlow||| |HR and Operations||Manager||||Louise Dixon||| |Finance Manager||||||Lynne Gordon||| |Marketing|and Communications||Manager|||Katherine
Cooper (to 11 February 2022)||| |Student Voice Manager||||||Frank Sverha (from 11 February 2022)
Nicola Edwards||| |Student Opportunities||Manager||||Sarah Redman||(to 8April 2022)| |||||||Vicki Okatch|(from 8April 2022)|| ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## |||||Unrestricted|Designated|Restricted|Total|Total| |---|---|---|---|---|---|---|---|---| |||||Funds|Funds|Funds|2022|2021| ||||Notes||F|F|E|F| |Income from:||||||||| |Donations||||1,064,587||440,000|1,504,587|1,340,000| |Charitable
activities||||172,191|||172,191|104,507| |Investment
income||||1,061|||1,061|267| |Government
grants||||||||3,679| |||||1,237,839||440,000|1,677,839|1,448,453| |Expenditure
on:||||||||| |Charitable
activities||||1,055,689|13,709||1,069,398|1,029,584| |Unwinding
of pension||liability||(395,581)|||( 395,581 )|127,147| |||||660,108|13,709||673,817|1,156,731| |Net movement|in funds before transfers|||577,731|( 13,709 )|440,000|1,004,022|291,722| |Transfers|||17|( 517,826 )|677,015|( 159,189 )||| |Net movement|in funds|||59,905|663,306|280,811|1,004,022|281,722| |Reconciliation|offunds|||||||| |Fund balances|brought|forward||179,364|( 2,618,486 )|219,262|( 2,219,860 )( 2,511,582 )|| |Fund balances|carried forward|||239,269|( 1,955,180 )|500,073|( 1,215,838 )|( 2,219,860 )| ## ## ||||||2022|||2021| |---|---|---|---|---|---|---|---|---| |||||||||As restated| |||Notes||||f||| |Fixed assets||||||||| |Tangible assets||13|||11,144|||10,058| |Current assets||||||||| |Stocks|||6,712|||4,628||| |Debtors||14|47,696|||138,656||| |Cash at bank and in hand|||1,145,462|||692,860||| ||||1,199,870|||836,144||| |Liabilities||||||||| |Creditors: amounts|falling|||||||| |due within one year||15|( 306,130|)||( 379,124|)|| |Net current assets|||||893,740|||457,020| |Total assets less current liabilities|||||904,884|||467,078| |Creditors: amounts|falling|||||||| |due after one year||||||||| |Pension
liability||16|||( 2,120,722 )||(|2,686,938 )| |Net assets|||||( 1,215,838 )||(|2,219,860 )| |Funds||||||||| |Unrestricted
funds|||||239,269|||240,346| |Designated
funds|||||336,144|||166,626| |Restricted fund|||||500,073|||361,000| |Pension reserve||||(|2,291,324 )||(|2,987,832 )| |||17||(|1,215,838 )||(|2,219,860 )| ## ## ||||||2022|2021| |---|---|---|---|---|---|---| |||||Notes|E|F| |Cash used in operating|activities|||21|454,986|313,550| |Cash flows from investing||activities||||| |Interest income|||||1,061|267| |Purchase oftangible fixed|assets||||( 3,445 )|( 7,562 )| |Cash provided by (used|in)investing||activities||( 2,384 )|( 7,295 )| |Change
in cash and cash||equivalents|in|the year|452,602|306,255| |Cash and cash equivalents||at the beginning||ofthe year|692,860|386,605| |Cash and cash equivalents||at the end|of|the year|1,145,462|692,860| |Cash and cash equivalents||consist of:||||| |Cash at bank and in hand|||||1,145,462|692,860| ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## |||||Unrestricted|Designated|Restricted||Total|Total| |---|---|---|---|---|---|---|---|---|---| |||||Funds|Funds|Funds||2021|2020| ||||Notes||f|||f|| |Income from:|||||||||| |Donations||||982,679||361,000||1,343,679|987,519| |Charitable
activities||||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:|||||||||| |Charitable
activities||||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|2"l9,262||29'1,722|(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 )|| ## |4.|Donations|||||| |---|---|---|---|---|---|---| ||||||2022|2021| ||||||E|F| ||University
of|Sunderland||||| ||Block grant||||1,032,350|934,000| ||Pension
deficit||grant (restricted)||440,000|361,000| ||Other||||32,237|45,000| ||Government|grants||||3,679| ||||||1,504,587|1,343,679| ||The government||grants received relates|to the JRSclaim.||| |5.|Incoming
resources from charitable|||activities||| ||||||2022|2021| ||Student services||income||90,471|89,706| ||Commercial|income|||76,406|14,801| ||Other Income||||5,314|| ||||||172,191|104,507| ## ## ## |8.|Support Costs|Support Costs|||||| |---|---|---|---|---|---|---|---| |||||||2022|2021| ||Finance|||||4?,831|52,578| ||Administration|||||196,113|250,163| ||Human
Resources||||||5,340| ||Information
Technology|||||296|192| ||Governance|(note 9)||||5,600|5,175| |||||||249,840|313,448| ||Support costs are allocated|||based on the overall expenditure|ofthe activities.||| |9.|Governance||||||| |||||||2022|2021| ||Audit fee|||||5,600|5,175| |||||||5,600|5,175| |10.|Net income/(expenditure)|||for the year|||| ||This is stated|after charging:||||2022|2021| ||Depreciation|oftangible fixed assets:|||||| ||-owned
by the charity|||||2,359|1,549| |11.|Auditors'
remuneration||||||| |||||||2022|2021| |||||||F|| ||Fees payable|to the charity's||auditors for the audit|||| ||ofthe charity's|annual|accounts|||5,600|5,450| ## ## ||||||2022|2021| |---|---|---|---|---|---|---| ||||||F|| |Wages and salaries|||||620,389|594,266| |Social security costs|||||51,637|51,653| |Other pension|costs||||33,074|30,209| ||||||705,100|676,128| |The average|monthly|number|ofemployees|during the year was as follows:||| ||||||2022|2021| ||||||Number|Number| |Direct|||||3|3| |Administration|||||17|18| |Management|||||4|4| ||||||24|25| |||2022|2022|2021|2021| |---|---|---|---|---|---| |||Number|E|Number|F| |Travelling|expenses||1,216||| ## ## |13||||| |---|---|---|---|---| |.|Tangible fixed asse|ts||Fixtures,| |||||Fittings &| |||||Equipment| ||Cost|||| ||At 1 August 2021|||81,354| ||Additions|||3,445| ||Disposals|||| ||At 31 July 2022|||84,799| ||Depreciation|||| ||At 1 August 2021|||71,296| ||Charge for the period|||2,359| ||Disposals|||| ||At 31 July 2022|||73,655| ||Net book value|||| ||At 31 July 2022|||11,144| ||At 31 July 2021|||10,058| |14.|Debtors||2022|2021| ||||F|| ||Trade debtors||28,845|93,339| ||Other debtors||7,263|10,256| ||Prepayments
and accrued income||11,588|35,061| ||||47,696|138,656| |15.|Creditors: amounts|falling due within one year||| ||||2022|2021| |||||as| |||||restated| |||||F| ||Trade creditors||35,569|77,516| ||Taxes and social security||18,489|18,640| ||Other creditors||15,817|17,098| ||Accruals and deferred|income|65,653|106,714| ||Pension
liability||170,602|159,156| ||||306,130|379,124| ## |16.|Creditors: amounts|Creditors: amounts|falling due more than one year|falling due more than one year|falling due more than one year|falling due more than one year||||| |---|---|---|---|---|---|---|---|---|---|---| ||||||||||2022|2021| |||||||||||As| |||||||||||restated| |||||||||||F| ||Pension deficit payment|||plan liability||||2,|120,722|2,686,938| |17.|Analysis offunds|||||||||| ||Year ended 31Jul||2022||Brought|||||Carried| ||||||forward|Income|Expenditure||Transfers|forward| ||||||||F|||| ||Unrestricted
fund|||||||||| ||General fund||||179,364|1,237,839|( 660,108|)|( 517,826 )|239,269| ||Designated
funds|||||||||| ||Capital fund||||10,058||(2,359|)|3,445|11,144| ||Pension
payment||fund||200,000||||100,000|300,000| ||Pension deficit|||(|2,846,094 )||||554,770|( 2,291,324 )| ||Staff development||fund||4,550||||10,450|15,000| ||Freshers' Week IT Fund||||8,000||(8,000|)||| ||Website Development|||Fund|5,000||(3,350|)|8,350|10,000| ||Restricted funds|||||||||| ||Pension
fund 2023||||219,262||||( 159,189 )|60,073| ||Pension
fund 2026|||||440,000||||440,000| |||||(2,219,860 )||1,677,839|(673,817|)||( 1,215,838 )| ||Year ended 31Jul||2021||Brought|||||Carried| ||||||forward|Income|Expenditure||Transfers|forward| ||||||F|F|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 development||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 )| ## ## ## ## ## ## |Year ended 31Jul|2022|Unrestricted|Designated|Restricted|Total| |---|---|---|---|---|---| |||Fund|Fundf|Fund|Fund| |Tangible assets|||11,144||11,144| |Cash and current
investments||320,389|325,000|500,073|1,145,462| |Other current assets||54,408|||54,408| |Current
liabilities
Creditors more than|one year|( 135,528 )|( 170,602 )
( 2,120,722 )||( 306,130 )
( 2,120,722 )| |||239,269|( 1,955,180 )|500,073|( 1,215,838 )| |Year ended 31Jul|2021|Unrestricted|Designated|Restricted|Total| |||Fund|Fund|Fund|Fund| |||F||E|F| |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 )| ## ## ## ## ## ## ## ## ||||||2022|2021| |---|---|---|---|---|---|---| |||||||F| |Net income for the year|||||1,004,022|291,722| |Interest received|||||(1,061 )|(267 )| |Depreciation
oftangible fixed assets|||||2,359|1,549| |Decrease/(increase)|in stock||||(2,084 )|1,363| |Decrease/(increase)|in debtors||||90,960|(114,846 )| |(Decrease)/increase|in creditors|including|pension|liabilities|( 639,210 )|134,029| |Net cash in operating|activities||||454,986|313,550| ## |||||||As previously|Adjustment|As restated| |---|---|---|---|---|---|---|---|---| |||||||reported||| |||||||F||| |Creditors:|Amounts|falling|due|within|one year|347,115|32,009|379,124| |Creditors:|Amounts|falling|due|after|one year|2,718,947|( 32,009 )|2,686,938| |||||||3,066,062||3,066,062|