2022-06-30-accounts - Cardiff Met Students' Union

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

			Page
Report ofthe	Trustees	1	to	9
Report ofthe	Independent Auditors	10	to	12
Consolidated	Statement of Financial Activities		13
Consolidated	and Charity Balance Sheet		14
Consolidated	Cash Flow Statement		15
Notes to the	Financial Statements	16	to	28

							2022	2021
					Unrestricted	Restricted	Total	Total
					fund	funds	funds	Funds
				Notes	F		f	F
INCOME AND ENDOWMENTS			FROM
Donations and legacies					958,429	10,000	968,429	1,239,717
Charitable activities
Provision ofrecreational	and leisure facilities				522,549		522,549	334,716
Provision ofsocial activities					364,770		364,770	56,672
Other trading activities					94,119	5,743	99,862	47,211
Investment income					68		68	457
Other income					1,916		1,916	5,447
Total					1,941,851	15,743	1,957,594	1,684,220
EXPENDITURE ON
Raising funds					2,401		2,401	12,000
Charitable activities
Provision of recreational	and leisure facilities				882,554	5,743	888,297	524,183
Provision ofsupport services					365,876	953	372,342	319,373
Provision ofsocial activities					690,636		685,123	678,100
Total					1,941,467	6,696	1,948,163	1,533,656
NET INCOME					384	9,047	9,431	150,564
Unwinding ofdiscounted	pension		provision		(25,127)		(25,127)	(17,670)
Net income/(expenditure)		for the year			(24,743)	9,047	(15,696)	132,894
RECONCILIATION OF FUNDS
Total funds brought forward					(88,576)		(88,576)	(221,470)
TOTAL FUNDS CARRIED		FORWARD			~113,319)	9,047	~104,272)	~88,876)

				Group		Charity
FIXEDASSETS		Notes	2022 f	2021	2022 f	2021 f
Tangible assets Investments		15 16	45,496	39,970	45,496	39,970 4
			45,496	39,970	45,500	39,974
CURRENT ASSETS
Stocks Debtors: amounts Cash at bank	falling due within one year	17 18	20,267 60,977 532,939	8,503 74,592 631427	20,267 75,690 437,264	8,503 97,211 585,967
			614,183	714,522	533,221	691,681
CREDITORS
Amounts falling due within one year		19	(259,197)	(328,644)	(250,918)	(319,836)
NET CURRENT ASSETS				385,878	282 303	3?1845
TOTAL ASSETS	LESSCURRENT LIABIUTIES		400,482	425,848	327,803	411,819
PENSION UABIUTY			(504,754)	(514,424)	(504,754)	(514,424)
NET ASSETS/(LIABILITIES)			((~04.272	~88.576	(~(76.95(	i(02.605)
FUNDS		21
Unrestricted funds:
General fund Pension reserve			391,435 ~504754 (113,319)	425,848 ~514424 (88,576)	318,756 ~504 754 (185,998)	411,819 ~5(4424 (102,605)
Restricted funds			9,047		9,047
TOTAL FUNDS			(~104,272	~88,576	(~(76.951	~102.605)

								2022		2021
						Notes		F
Cash flows from operating		activities:
Cash generated from operations								~76,619)		141,410
Net cash provided by (used in) operating
activities								~76,619)		141,410
Cash flows from investing		activities:
Purchase oftangible fixed assets								(21,937)		(6,987)
Sale oftangible fixed assets										6,759
Interest received								68		457
Net cash provided by (used in) investing
activities								~21,669)		229
Change in cash and cash	equivalents			in the
reporting period								(98,488)		141,639
Cash and cash equivalents		at the	beginning		of
the reporting period								631,427		489,788
Cash and cash equivalents		at the	end	ofthe
reporting period								532,939		631,427
RECONCILIATION	OF NET INCOME/(EXPENDITURE)						TO NET CASH FLOW FROM		OPERATING	ACTIVITIES
									2022	2021
Net income/(expenditure)			for the reporting			period (as	per the statement
offinancial activities)									9,431	150,564
Adjustments for:
Depreciation charges									16,411	19,203
Profit on disposal of	fixed assets									(1,415)
Interest received									(68)	(457)
Decrease/(increase)		in stocks							(11,764)	16,226
Decrease/(increase)		in debtors							13,615	53,342
Increase/(decrease)		in creditors							(69,477)	(63,989)
Difference between	pension		charge and		cash contributions				~34.797)	~32,064)
Net cash provided	by (used in)			operating		activities			~76,619)	141,410
ANALYSIS OF CHANGES			IN NET FUNDS
							At 1/7/21	Cash flow		At 30/6/22
									F	F
Net cash
Cash at bank and in		hand					631,427		98,488	532,939
							631,427		98,488	532,939
Total

					2022	2021
					F	F
Fundraising income					1,243	1,522
Trading income - subsidiary					90,594	41,316
Sponsorships					4,500	800
Minibus and car	hire recharge				3,494	3,573
Other income					31
					99,862	47,211
INVESTMENT INCOME
					2022	2021
					F	F
Deposit account	interest				68	457
INCOME FROM	CHARITABLE	ACTIVITIES
					2022	2021
		Activity				F
SU Sport income		Provision	ofrecreational	and leisure facilities	115,174	52,223
Clubs 8 Societies income		Provision	ofrecreational	and leisure facilities	407,375	282,493
Shop income		Provision	ofsocial activities		60,744	8,396
Bar income		Provision	ofsocial activities		117,084	7,752
Catering income		Provision	ofsocial activities		152,472	25,934
Amusements income		Provision	ofsocial activities		4,209	462
ENTS department	income	Provision	ofsocial activities		30,261	14,117
Safe taxi scheme		Provision	ofsocial activities			11
					887,319	391,388

					Support
				Direct	costs (see
				Costs	note 10)	Totals
				F
Provision ofrecreational	and leisure facilities			742,108	146,189	888,297
Provision ofsupport services				238,142	134,200	372,342
Provision ofsocial activities				561,953	123,170	685,123
				1,542,203	403,559	1,945,762
SUPPORT COSTS
		Staff			Governance
		costs f	Other	Depreciation F	costs F	Totals E
Provision ofrecreational
and leisure facilities		91,411	45,318	1,513	7,947	146,189
Provision ofsupport
services		79,755	45,272	1,467	7,706	128,687
Provision ofsocial activities		94,966	17.171	1,604	9,429	123,170
		266,132	107,761	4,584	25,082	403,559

Net inco	me/(	expenditure) is stated after charging/(crediting):
			2022	2021
			E	E
Auditors'	remuneration		7,982	9,640
Depreciation		-owned assets	16,411	19,203
Surplus	on	disposal offixed assets		~1,415)

	2022	2021
Name
V Gonavaram	17,335
N Wrigley	17,690
K Davies	1,608	19,343
A Fox		1,626
M Pavuluri	1,576	18,083

STAFF	COSTS
				2022	2021
				E
Wages	and salaries			900,027	912,716
Social security costs				48,596	51,293
Other pension costs and deficit contributions				16,092	16,766
				964,715	980,775
The average number ofemployees			during the year was as follows:
				2022	2021
Average	number of monthly	employees		35	42
Average	number offortnightly	employees		59	57
				94	99

The numbe	r ofemp	loyee	s who	se emoluments	amounte	d to a	rate ofover f60,000	during the year wer	e as follows
								2022	2021
								No.	No.
860,001 -	870,000							1	0
280,001 -	290,000							1	1
Pension contributions								F12,218	P7,754
Total remuneration		paid	to key	management	personnel	in the	year was f252,540 (2021:6203,231).
COMPARATIVES		FOR	THE STATEMENT		OF FINANCIAL ACTIVITIES —YEAR			END 30JUNE 2021
							2021	2021	2021
							Unrestricted	Restricted	Total
							funds	funds	funds
							F	E	F
INCOME AND ENDOWMENTS				FROM
Donations	and legacies						1,203,050	36,667	1,239,717
Charitable	activities
Provision	of recreational		and leisure facilities
							334,716		334,716
Provision	ofsocial	activities					56,672		56,672
Other trading activities							44,889	2,322	47,211
Investment	income						457		457
Other income							5,447		5,447
Total							1,645,231	38,989	1,684,220

.	COMPARATIVES	FO	R	THE STAT	EMENT OF FINANCIAL	ACTIVITIES - continue	d
						Unrestricted	Restricted	Total
						funds	funds	funds
						F	F	F
	EXPENDITURE ON
	Raising funds					12,000		12,000
	Charitable activities
	Provision of recreational			and leisure	facilities	521,861	2,322	524,183
	Provision ofsupport	services				319,373		319,373
	Provision ofsocial activities					641,433	36,667	678,100
	Total					1,494,667	38,989	1,533,656
	NET INCOME					150,564		150,564
	Other recognised	gains/(losses)
	Actuarial gains/(losses) schemes			on defined	benefit	~17.670)		~17,670)
	Net movement in funds					132,894		132,894
	RECONCILIATION	OF FUNDS
	Total funds brought		forward			(221,470)		(221,470)
	TOTAL FUNDS CARRIED FORWARD					~88.576)		~88.576)
15.	TANGIBLE FIXED		ASSETS —Group and Charity
							Bars 8	Office
						Sports	Shops	fixtures
						Equipment	fittings f	8 fittings F
	COST
	At 1 July 2021						298,468	13,818
	Additions					775	1,963
	At 30June 2022					775	300,431	13,818
	DEPRECIATION
	At 1 July 2021						262,876	11,706
	Charge for year					113	11,827	605
	At 30June 2022					113	274,703	12,311
	NET BOOK VALUE
	At 30June 2022					662	25,728	1,507
	At 30June 2021						35,592	2,112

TANGIBLE FIXEDASSETS —Group and Charity
	Motor	Computer
	vehicles f	equipment f	Totalsf
COST
At 1 July 2021	11,699	17,936	341,921
Additions	15,000	4,199	21,937
At 30June 2022	26,699	22,135	363,858
DEPRECIATION
At 1 July 2021	11,699	15,670	301,951
Charge for year	1,563	2,303	16,411
At 30June 2022	13,262	17,973	318,362
NET BOOK VALUE
At 30June 2022	13,437	4,162	45,496
At 30June 2021		2,266	39,970
FIXEDASSET INVESTMENTS - Charity
			Shares in
			group
			undertakings f

						2022 f	2021 f
Stocks						20,267	8,503
DEBTORS:AMOUNTS			FALLING DUE WITHIN ONE YEAR
				Group	Group	Charity	Charity
				2022 f	2021 f	2022 f	2021 f
Trade debtors				30,844	10,186	25,552	7,306
VAT					19
Amount	due from group		undertakings			20,005	25,518
Prepayments		and accrued income		30,133	64,387	30,133	64,387
				60,977	74,592	75,69D	97.211

	Group	Group	Charity	Charity
	2022	2021	2022	2021
		F	F	F
Trade creditors	51,341	28,657	51,341	28,657
Social security and other taxes	39,085	14,605	39,085	14,605
VAT	9,624	351	7,687	351
Other creditors	42,533	80,855	36,191	80,855
Accruals and deferred income	116,614	204,176	116,614	195,368
	259,197	328,644	250,918	319.836

Included within accruals and deferred	income above is the followi	ng deferred income:
		2022	2021
			E
Private hire bookings		2,304	267
Other advance funding		20,002	7,521
Castell Howell funding		21,429	28,571
COVID-19 recovery grant			32,845
Welsh Government Winter Wellbeing	grant	38,434
		82,169	69,204

Minimum lease payments under non-cancellable operating	leases fall due as follows:
	2022	2021
	F	F
Within one year	26,863	39,095
Between one and five years	41,184	69,064
	68,047	108,159

MOVEMENT IN FUNDS
						Net	Transfers
						movement	between	At
					At 1/7/21	in funds	funds	30/6/22
					F	E
Unrestricted funds
General fund					187,396	28,480	(34,797)	181,079
Pension reserve					(514,424)	(25,127)	34,797	(504,754)
Designated fund: Women's		football dub			7,914	16,881		24,795
Designated fund: Men's	football			club	230,538	~44.977)		185,561
					(88,576)	(24,743)		(113,319)
Restricted funds
Changing the culture —Funding				for Interns		9,047		9,047
TOTAL FUNDS					~88,576)	15,696		~104,272)
Net movement in funds,	included			in the above are as follows:
					Incoming	Resources	Gains and	Movement
					resources	expended	losses	in funds
								E
Unrestricted funds
General fund					1,635,898	(1,607,418)		28,480
Pension reserve							(25,127)	(25,127)
Designated fund: Women's football club Designated fund: Men's football club					30,153 275,800	(13,272) ~320,777)		16,881 44,977
					1,941,851	(1,941,467)	(25,127)	(24,743)
Restricted funds
Clubs and societies Rental lease					5,743 10,000	(5,743) ~953)		9,047
					15,743	6,696		9,047
TOTAL FUNDS					1,957,594	~1,948,163)	~25.127)	15,696
Comparatives for movement			in funds
						Net	Transfers
						movement	between	At
					At 1/7/20	in funds	funds	30/6/21
					F	E	F	E
Unrestricted funds
General fund					116,676	102,784	(32,064)	187,396
Pension reserve					(528,818)	(17,670)	32,064	(514,424)
Designated fund: Women's		football club			7,876	38		7,914
Designated fund: Men's	football			club	182,796	47,742		230,538
					~221,470	132,894		~88,576
TOTAL FUNDS					~221,470)	132,894		~88,576)

ANALY	SIS OF GROUP NET ASSETS BETWEEN	FUNDS
			Restricted	Unrestricted
			funds	funds	Total
				f	F
Fund balances at 30June 2022 are represented		by:
Tangible	fixed assets			45,496	45,496
Current	assets		9,047	605,136	614,183
Current	liabilities			(259,197)	(259,197)
Pension	liability			~504,754	~504,754
Total net assetsl(liabilities)			9,047	~113.319	~104,272

A summary	of	the	results ofthe subsidiary	for the year is shown
					F
Turnover					90,594
Cost ofsales					(8,401)
Gross profit					82,193
Administrative		expenses			(10,324)
					71,869
Other operating		income			31
					71,900
Interest receivable			and similar income
PROFIT ON	ORDINARY ACTIVITIES BEFORE TAXATION				71,911
Taxation
PROFIT FOR THE FINANCIAL YEAR					71,911
The aggregate		ofthe assets, liabilities and		funds was:
					f.
Assets					100,967
Liabilities					(28,284)
Funds					72,683