Registered number: 07623621 Charity number: 1149397 

## Chester Students’ Union 

Trustees’ Report and Financial Statements 

For the Year Ended 31 July 2023 

wIDAINS ACCOUNTANTS 



## Chester Students' Union 

## (A Company Limited by Guarantee) 

|Contentsa|Contentsa|
|---|---|
||Page|
|Reference and Administrative Details oftheCompany, its Trustees and Advisors|4|
|Trustees’ Report|2-8|
|Trustees’ Responsibilities Statement|9|
|Independent Examiner's Report|10-11|
|Statement of Financial Activities|12|
|Balance Sheet|13|
|Statement ofCash Flows|14|
|NotestotheFinancialStatements|15-28|





Chester Students’ Union 

## (A Company Limited by Guarantee) 

## Reference and Administrative Details of the Company, its Trustees and Advisors 

For the Year Ended 31 July 2023 

## aa 

## Trustees 

L Friel - President (resigned 30 June 2023) 

L Garett - VP Education (resigned 30 June 2023) 

J Farley-Moss - VP Student Life (resigned 30 April 2023) 

E Smith - President (appointed 1 July 2023) 

J Sanderson - Student Trustee (resigned 30 June 2023), VP Education (appointed 4 July 2023) 

T Hobhouse Scott - VP Student Life (appointed 7 July 2023) 

K Dar - External Trustee (resigned 30 March 2023) 

E Goodridge - External Trustee (resigned 6 April 2023) 

O Kasper-Hope - Extema! Trustee (appointed 21 April 2021) 

B Allsop - External Trustee (resigned 29 March 2023) 

M Trevor - Student Trustee 

## Company registered number 

07623621 

## Charity registered number 

## 1149397 

Registered office 

Parkgate Road, Chester, CH1 4BJ 

## Chief executive officer 

M Webber, CEO (resigned 7 November 2022) A Godolphin Deputy CEO (Resigned 1 October 2022) S Temple-Farmer, Interim Operations Director (30 September 2022 until 1 November 2022) interim CEO (appointed 1 November 2022) and Change Director (appointed 1 May 2023) 

## Accountants 

Dains Audit Limited, Suite 2, Albion House, 2 Etruria Office Village, Forge Lane, Stoke on Trent, Staffordshire, S$T1 5RQ 

i Page 1 



## Chester Students’ Union 

## {A Company Limited by Guarantee) 

## Trustees’ Report For the Year Ended 31 July 2023 

The Trustees present their annual report together with the financial statements of the company for the year 1 August 2022 to 31 July 2023. The Annual Report serves the purposes of both a Trustees’ report and a directors’ report under company law. The Trustees confirm that the Annual Report and financial statements of the charitable company comply with the current statutory requirements, the requirements of the charitable company’s governing document and the provisions of the Statement of Recommended Practice (SORP) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2019). 

Since the company qualifies as small under section 382 of the Companies Act 2006, the Strategic Report required of medium and large companies under the Companies Act 2006 (Strategic Report and Directors’ Report) Regulations 2013 has been omitted. 

## Objectives and activities 

## a, Policies and objectives 

Chester Students’ Union mission is to ensure you “Love your Student Life.” 

The Objects of the Union (“Objects”) are the advancement of education of Students at University of Chester for the public benefit by: 

- e Promoting the interests and welfare of Students at University of Chester during their course of study and representing, supporting and advising Students 

- e Being the recognised representative channel between Students and University of Chester and any other external bodies 

- e Providing social, cultural, sporting and recreational activities and forums for discussions and debate for the personal development of its Students 

Page 2 



## Chester Students’ Union 

(A Company Limited by Guarantee) 

Trustees’ Report (continued) For the Year Ended 31 July 2023 

## A Objectives and activities (continued) 

## b. Strategies for achieving objectives 

## Health Assessment and Road Map 

Following the resignations of the Chief Executive and Deputy Chief Executive in October and November 2022 the organisation undertook a comprehensive review of the health of the organisation and strategy for the future. 

To this end Scott Temple-Farmer, an associate for Coole Insight Ltd was appointed as Interim Operations Director and then as Interim Chief Executive upon the departure of the Chief Executive as noted above. 

The Trustee Board appointed a joint task and finish tumaround group in December 2022 to commission a health assessment of the organisation. The Group received 4 proposals from external organisations to undertaken the review and appointed Greenhouse Ltd to undertaken the review in February 2023. Greenhouse reported to the Turnaround Group in March 2023. From May 1 2023 S Temple-Farmer was appointed as Change Director reporting to a Turnaround Board with both being in place until 30 April 2024. This report considers the organisational health of Chester Students’ Union (CSU), providing a critique to the Trustee Board, joint Task and Finish Group, and the University of Chester on key aspects of the students’ union, and recommendations for improvement. 

## The Executive Summary of the Assessment Report 

Based on the interviews of close to fifty stakeholders at the students’ union and institution, review of numerous key documents made available by the organisation, and consideration of good practice within the student movement and elsewhere, the report provides an analysis of the key findings in relation to the main areas of concern, in particular: 

- e Strategic goals and organisational impact e Engagement with the membership e Representation of students to the institution e Institutional relationship e Financial effectiveness, scrutiny, including value for money « Diversity, inclusion, equity and cohesion e Trustee Board governance e¢ People development and culture 

Synthesising the information from the various sources, the report assesses the evidence in these areas, and makes strategic and tactical recommendations for the key aspects, taking into account the context, scale, and resources of the organisation. For clarity purposes, the organisational roadmap takes the form of key recommendations for action during the turnaround period of the next 12 months, with key actions for the first 6 months, and subsequent 6 months. 

It should be emphasised that the content and tone of the feedback of stakeholders across the institution and students’ union has been highly concerning and ranks close to the worst that we have come across in students’ unions within the UK. It should not come as a surprise that the actions required now must be highly robust in order to extricate Chester Students’ Union from its spiral of decline. 

For much of the 2022/23 year the organisation wasn't operating at full strength in terms of permanent staffing, giving rise to concerns from the primary funder about the validity of the organisation. For much of the year the organisation operated between 40-66% of its previous FTE due to a mixture of departures, non-replacements, and staff absences. As part of the health assessment a review of the strategic plan is required and will be undertaken in tandem with the University process. 

## I 

Page 3 



## Chester Students’ Union 

{A Company Limited by Guarantee) 

Trustees’ Report (continued) For the Year Ended 31 July 2023 

## NO 

## Objectives and activities (continued) 

From 1 November 2022 the Board took the decision to focus on the relationships of key stakeholders to improve the immediate standing of the organisation, these being: 

- e University of Chester, e Elected Officers, * Our members, and e Our Staff. 

From February 2023 the organisation moved forward with a revised mission, enabling to concentrate on activities directly benefiting the members and aiding our purposes in the Articles and 1994 Education Act being: 

- e Advice e Community, e Opportunities, and e Voice. 

This remainder of this report reflects the activity undertaken. 

## Student Advice 

To the end of May the advice service had undertaken 818 new cases compared to 698 for the same period in 21/22. A total of 163 appointments had also taken place compared to 257 for the same period the year before. 

The split by topic is as follows: 

- e 44% - Academic Appeals ® 17% ~ Academic Integrity © 9% - Other e 8% - Housing e 5% - Money e 5% - Exceptional Circumstances e 5% - Professional Suitability Panels « 5% - Complaints e 2% - Disciplinary 

There is a plan to review the data collection and categorisation of advice work for 23/24. 

The service undertakes feedback with members who use the service and complete a survey at the completion of their case. The summary scores are; 

- e 75% Satisfaction rating « 90% agree they received the advice they needed to resolve their query « 90% confidence in the advice received 

## Community 

In term 3 we revamped our space at the Exton Park campus to create dedicated social spaces and bookable rooms for student groups and their leaders and brought our staff team together to work in a more collaborative space. The created a meeting room called ‘The Think Tank’, a larger space called “The Hive’, our open space called “The Foyer’ and a one-to-one space called “The Studio’. 

Across ail of the University Centres we held a programme of commuter breakfasts to ensure students could come together, network and discuss their student experience. 

## in 

Page 4 



## Chester Students’ Union 

## (A Company Limited by Guarantee) 

Trustees’ Report (continued) For the Year Ended 31 July 2023 

## a 

## Objectives and activities (continued) 

During term 2 we were able to establish a more consistent approach to supporting activities at the University Centres of Shrewsbury, Birkenhead and Warrington. The SU space at Shrewsbury was revamped with two students employed to act as campus services assistants. Our summer celebration attracted over 60 students to commemorate their achievements during the year. 

At Warrington our summer celebration attracted 55 students who enjoyed a 3 course meal and we were able to provide more consistent staffing support at Birkenhead with a presence being maintained weekly. 

We hosted the University International Student Networking Café which attracted over 50 students attending to discuss their experience of being a student at the University in terms of their education and wider student life. 

The Students’ Union hosted two seminars for Students in Chester, working with University colleagues and representatives of the local City Council to ensure that student issues were being heard by local councillors and other decision makers. Over 30 students attended each forum with report backs being received by the full-time elected officers. 

## Opportunities 

Welcome week was a big success with over 4000 in person interactions and many more online. 13 events were run by the organisation. The welcome fair attracted over 1,500 students with a similar number engaging with the sports and societies fair. 

Student societies continued to thrive at the students’ union with 44 active societies being in place by the end of the academic year and 729 student members. A comprehensive review of support for the societies is taking place in Summer 2023. We further enhanced the support to those running societies by creating regular networking opportunities to share ideas. 

in March 2023 we relaunched the organisations website to give it a fresh look and feel and to improve the navigation and accessibility for students. The previous site wasn't engaging and almost instantly we saw a 49% increase in engagement. 

## Voice 

Cost of Living 

The effects of the cost of living was felt harshly by our members and we have been working with the University ensure that students needs are understood and support improved. We are really proud of the work undertaken in this campaign and for the way in which the University responded to this challenge. As a result the University was placed 2nd at the What Uni? Student Choice Awards. As well as the practical support and improved food and drink offers across campus ensuring a regular freshly cooked value meal, the implementation of free sanitary products available in bathrooms and the redesignation of existing funds to create new support funds for students most in need are real wins for our members. 

Sabbatical Elections — Spring 2023 The annual elections took place in March with a final turnout of 8%. Confidence in the election from 21/22 was low given an extensive investigation which was dismissed on appeal. The focus for these elections were to ensure a positive candidate experience and promote voter confidence. A total of 15 nominees, 14 candidates across the 3 positions with 1,074 students casting at least one vote. 

Student Voice Representative System The Students’ Union continued to work in partnership with the University to deliver the Student Voice Representative System (SVR's). We recruited 431 with the aim of recruiting 512 equalling an 84% success rate. In addition 74% of those recruited attended training on the role and function of the representation system. Reps were supported by University Staff Champions as well as staff from with the Students’ Union. i Page 5 



## Chester Students’ Union 

(A Company Limited by Guarantee) 

Trustees’ Report (continued) For the Year Ended 31 July 2023 

## ee 

## Objectives and activities (continued) 

## 1839 Awards — Celebrating the Staff and Student Community 

The 11th 1839 awards was hosted at Storyhouse on Thursday 12th May. The awards are the opportunity to celebrate the incredible achievements of the University community with students and staff. We received over 700 nominations for the 14 awards, a record for the event and goes to show the importance of the awards and how much they mean to the recipients. 

## Students’ Union Democracy 

The organisation implemented a student voice scrutiny committee, of 12 members who would be paid to conduct student research into the student experience, at the start of the 2022/23 academic year. However due to a lack of coherent planning and support this was disbanded and replaced with a student council for the remainder of the year. The student council had a total of 29 members for the remainder of the year with a clear focus on Accessibility and access to University campuses and contribution to the University Widening Access and Participation Plan. 

## c. Main activities undertaken to further the company's purposes for the public benefit 

The Union promotes the interests of the students by providing representation, advice and support as well as social and cultural activities. In addition, we provide opportunities for personal development. 

We work closely with the University and the local community to resolve matters and to promote community cohesion. 

The officers sit on a University and Community Liaison committee. 

Our input into University committees provides good governance and helps promote effective spending of the University’s public and private funds. 

## Financial review 

## a. Going concern 

After making appropriate enquiries, the Trustees have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the accounting policies. 

## b. Financial Review 

The detail of the 2022/23 financial performance is detailed later in this document. For the year ended 31 July 2023, the CSU net position was a net increase in funds of £22,684, which increased total funds to £182,597. 

## a 

Page 6 



Chester Students’ Union 

(A Company Limited by Guarantee) 

Trustees’ Report (continued) For the Year Ended 31 July 2023 

## tt 

## Structure, governance and management 

## a. Constitution 

The company is registered as a charitable company limited by guarantee and was set up by a Trust deed . 

The company is constituted under a Trust deed and is a registered charity number 1149397. 

The principal object of the company is for “students to love their student life.” 

## b. Methods of appointment or election of Trustees 

The management of the company is the responsibility of the Trustees who are elected and co-opted under the terms of the Trust deed. 

## c. Related party relationships 

The relationship between University of Chester and Chester Students’ Union is established in the Regulations of the University and detailed in the Chester Students’ Union's Articles approved by both organisations. 

Chester Students’ Union receives a block grant from the University of Chester and rents a building in Chester, plus part of a building at the Shrewsbury and Warrington Campus. The union continues to generate a surplus from media sales activity. 

There is no reason to believe that this or equivalent support from the university will not continue for the foreseeable future, as the Education Act 1994 imposes a duty on the university to ensure the financial viability of its student representative body. 

## d. Risk management 

The Trustee Board of the Students’ Union has examined the major strategic, business and operational risks faced by the Chester Students’ Union. A risk register has been established and will be updated at least annually. Risk is also reported and reviewed at a Board sub-committee. Where appropriate, systems or procedures will be established to mitigate the risks that Chester Students’ Union faces. Budgetary and internal control risks have been minimised by the implementation of procedures for authorisation of all transactions and projects. Procedures are in place to ensure compliance with health and safety for staff, volunteers and participants of all activities organised by the union. 

These procedures are periodically reviewed to ensure that they continue to meet the needs of the Students’ Union. 

tt ttt Page 7 



## Chester Students’ Union 

(A Company Limited by Guarantee) 

Trustees’ Report (continued) For the Year Ended 31 July 2023 aSey 

## Plans for future periods 

The repositioning of the Students’ Union in terms of its relationship to its major funder and its members is absolutely critical to the future success of the organsiation. The reinvigoration of the external members of the Board and the appointment of a University nominated lay trustee are seen as key componenents. 

The student demographic of the University is changing all of the time and with Higher Education likely to be a key topic at the next general election the organisation will need to be alive to the potential further changes to the structure and potential delivery methods of Higher Education in the next 5-10 years. The new Chief Executive and Board will need to be alive to these issues and work closely with the University of Chester to ensure the interests of the members are prioritised. 

The improved standing of the Students’ Union towards the end of 2022/23 gives the organisation much to be optimistic about and the clear defninition of the Vision, Mission and Vales will ensure a unique place for the Students’ Union to operate within the University community. The challenge for the students’ union into 2023/24 will be to further embed and build confidence amongst the key stakeholders. A clearer sense of the long term funding of the organisation may be required to ensure embedded strategic developments to take hold in the future. 

## Funds held as custodian 

Chester Students’ Union acts as custodian for funds raised by the student societies themselves, amounting to £6,614 (2022: £4,789) at the year end, in addition to the grant support it disburses to them as shown in the accounts. 

Approved by order of the members of the board of Trustees and signed on their behalf by: 

E Smith President Date: 15 December 2023 

## i 

Page 8 



## Chester Students’ Union 

## (A Company Limited by Guarantee) 

Statement of Trustees’ responsibilities For the Year Ended 31 July 2023 

lt The Trustees (who are also the directors of the company for the purposes of company law) are responsible for preparing the Trustees’ Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). 

Company law requires the Trustees to prepare financial statements for each financial year. Under company law, the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Trustees are required to: 

- ° select suitable accounting policies and then apply them consistently, e observe the methods and principles of the Charities SORP (FRS 102); 

- ° make judgments and accounting estimates that are reasonable and prudent; 

- ° state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any material departures disclosed and explained in the financial statements, 

- . prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business. 

The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. 

Approved by order of the members of the board of Trustees and signed on its behalf by: 

E Smith President Date: 15 December 2023 

nl Page 9 



## Chester Students’ Union 

## (A Company Limited by Guarantee) 

Independent Examiner's Report For the Year Ended 31 July 2023 

## a 

## Independent Examiner's Report to the Trustees of Chester Students’ Union (‘the company’) 

| report to the charity Trustees on my examination of the accounts of the company for the year ended 31 July 2023. 

## Responsibilitles and Basis of Report 

As the Trustees of the company (and its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (‘the 2006 Act’). 

Having satisfied myself that the accounts of the company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, | report in respect of my examination of the company's accounts carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’). In carrying out my examination | have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act. 

## Independent Examiner's Statement 

Since the company’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. | confirm that | am qualified to undertake the examination because | am a member of ICAEW, which is one of the listed bodies. 

- | have completed my examination. | confirm that no matters have come to my attention in connection with the examination giving me cause to believe: 1. accounting records were not kept in respect of the company as required by section 386 of the 2006 Act; or 

2. the accounts do not accord with those records; or 3. the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a ‘true and fair view which is not a matter considered as part of an independent examination; or 

4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities [applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)). 

| have no concems and have come acress no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. 

## er 

; Page 10 



## Chester Students’ Union 

(A Company Limited by Guarantee) 

Independent Examiner's Report (continued) For the Year Ended 31 July 2023 

i 

## Use of Our Report 

The use of this report is made solely to the company's Trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that | might state to the company's Trustees those matters | am required to state to them in an Independent Examiner's Report and for no other purpose. To the fullest extent permitted by law, ! do not accept or assume responsibility to anyone other than the company and the company's Trustees as a body, for my work or for this report. 

Signed: 

Dated: IS. 12-25 

## Simon Hawkins FCA 

Dains Audit Limited Suite 2, Albion House 2 Etruria Office Village Forge Lane Stoke on Trent Staffordshire ST1 5RQ 

A Page 11 



## Chester Students‘ Union 

## (A Company Limited by Guarantee) 

Statement of financial activities (incorporating income and expenditure account) For the Year Ended 31 July 2023 

a 

|||Unrestricted<br>funds<br>2023|Restricted<br>funds<br>2023|Total<br>funds<br>2023|Total<br>funds<br>2022|
|---|---|---|---|---|---|
||Note|£|£|£|£|
|Income from:||||||
|Donations and legacies|3|§53,176|17,888|571,064|547,662|
|Charitable activities|4|15,654|-|15,654|18,432|
|Investments|5|358|-|358|19|
|Total Income||569,188|17,888|587,076|566,113|
|Expenditure on:|||—||ne|
|Charitable activities: Improvement of<br>Student Experience||546,504|17,888|564,392|567,134|
|Total expenditure||546,504|17,888|564,392|567,134|
|Net movement In funds||22,684|-|22,684|(1,021)|
|Reconciliation of funds:||||||
|Total funds brought forward||159,913|-|159,913|160,934|
|Net movement in funds||22,684|-|22,684|(1,021)|
|Total funds carried forward||182,597|-|182,597|159,913|
|||—SS=|$<|——_—_—_—|———_7_0_=|



The Statement of Financial Activities includes all gains and losses recognised in the year. 

The notes on pages 15 to 28 form part of these financial statements. 

i 

Page 12 



## Chester Students’ Union 

(A Company Limited by Guarantee) Registered number: 07623621 

## Balance Sheet 

As at 31 July 2023 


**----- Start of picture text -----**<br>
||||||||
|---|---|---|---|---|---|---|
|a|
|2023|2022|
|Note|£|£|
|Fixed|assets|
|Tangible|assets|11|10,577|14,751|
|10,577|14,751|
|Current|assets|
|Debtors|12|49,674|76,244|
|Cash|at|bank and|in|hand|152,346|103,643|
|202,020|179,887|
|Creditors:|amounts|falling|due|within|one|
|year|13|(30,000)|(34,725)|
|Net current|assets|172,020|145,162|
|Total|net assets|182,597|159,913|
|_———————|Seo|
|Charity|funds|
|Restricted|funds|15|-|-|
|Unrestricted|funds|15|182,597|159,913|
|Total funds|182,597|159,913|

**----- End of picture text -----**<br>


The company was entitled to exemption from audit under section 477 of the Companies Act 2006. 

The members have not required the company to obtain an audit for the year in question in accordance with section 476 of Companies Act 2006. 

The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements. 

The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small companies regime. 

The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by: 

E Smith President Date: 15 December 2023 

The notes on pages 15 to 28 form part of these financial statements. 

iT Page 13 



## Chester Students‘ Union 

(A Company Limited by Guarantee) 

Statement of Cash Flows For the Year Ended 31 July 2023 


**----- Start of picture text -----**<br>
||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
|a|
|2023|2022|
|£|£|
|Cash|flows from|operating|activities|
|Net cash|used|in|operating|activities|49,134|33,802|
|Cash|flows|from|investing|activities|
|Proceeds|from|the|sale|of tangible|fixed|assets|1,047|-|
|Purchase|of tangible|fixed|assets|(1,478)|(14,131)|
|Net cash|used|in|investing|activities|{431)|(14,131)|
|Change|in|cash|and|cash|equivalents|in the year|48,703|19,671|
|Cash|and|cash|equivalents|at the|beginning|of the year|103,643|83,972|
|Cash|and|cash|equivalents|at the|end|of the year|152,346|103,643|
|The|notes|on|pages|15|to|28 form|part|of these|financial|statements|

**----- End of picture text -----**<br>


ll 

Page 14 



Chester Students’ Union 

Notes to the Financial Statements For the Year Ended 31 July 2023 eenO UES 

## (A Company Limited by Guarantee) 

1. Accounting policies 

## 4.1 Basis of preparation of financial statements 

The financial statements have been prepared in accordance with the Charities SORP (FRS 102) - Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019), the Financial Reporting Standard applicable in the UK and Republic of ireland (FRS 102) and the Companies Act 2006. 

Chester Students’ Union meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy. 

## 1.2 Company status 

The company is a company limited by guarantee. The members of the company are each and every student who has not opted out of membership and the officer Trustees of the Union. In the event of the company being wound up, the liability in respect of the guarantee is limited to one penny per member of the company. 

## 1.3 Going concern 

At the time of approving the accounts, the trustees have a reasonable expectation that the charity has adequate resources to continue in operation existence for the foreseeable future and therefore the trustees continue to adopt the going concern basis of accounting in preparing the accounts. 

- 1.4 Income 

All income is recognised once the company has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably. 

Grants are included in the Statement of Financial Activities on a receivable basis. The balance of income received for specific purposes but not expended during the period is shown in the relevant funds on the Balance Sheet. Where income is received in advance of entitlement of receipt, its recognition is deferred and included in creditors as deferred income. Where entitlement occurs before income is received, the income is accrued. 

Donated services or facilities are recognised when the company has contro! over the item, any conditions associated with the donated item have been met, the receipt of economic benefit from the use of the company of the item is probable and that economic benefit can be measured reliably. 

Income tax recoverable in relation to investment income is recognised at the time the investment income is receivable. 

## LT 

Page 15 



Chester Students’ Union (A Company Limited by Guarantee) 

Notes to the Financial Statements For the Year Ended 31 July 2023 

## a 

## 4. Accounting policies (continued) 

1.5 Expenditure 

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use. 

Fundraising costs are those incurred in seeking voluntary contributions and do not include the costs of disseminating information in support of the charitable activities. Support costs are those costs incurred directly in support of expenditure on the objects of the company and include project management carried out centrally. Governance costs are those incurred in connection with administration of the company and compliance with constitutional and statutory requirements. 

Costs of generating funds are costs incurred in attracting voluntary income, and those incurred in trading activities that raise funds. 

Charitable activities and Governance costs are costs incurred on the company’s operations, including support costs and costs relating to the governance of the company apportioned to charitable activities. 

## 1.6 Tangible fixed assets and depreciation 

Tangible fixed assets costing £1,000 or more are capitalised and recognised when future economic benefits are probable and the cost or value of the asset can be measured reliably. 

Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be included in the measurement of cost. 

A review of impairment of a fixed asset is carried out if events or changes in circumstances indicate that the carrying value of any fixed asset may not be recoverable. Shortfalis between the carrying value of fixed assets and their recoverable amounts are recognised as impairments. Impairment losses are recognised in the Statement of financial activities incorporating income and expenditure account. 

Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives, using the straight-line method. 

Depreciation is provided on the following bases: 

Office equipment Computer equipment 

- 20% on a straight line basis - 20% on a straight line basis 

ee 

Page 16 



## Chester Students’ Union 

## (A Company Limited by Guarantee) 

## Notes to the Financial Statements For the Year Ended 31 July 2023 anO UOT 1. Accounting policies (continued) 

## 1.7 Interest receivable 

interest on funds held on deposit is included when receivable and the amount can be measured reliably by the company; this is normally upon notification of the interest paid or payable by the institution with whom the funds are deposited. 

## 1.8 Operating leases 

Rentals paid under operating leases are charged to the Statement of Financial Activities on a straight-line basis over the lease term. 

- 1.9 Debtors 

Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. 

## 1.10 Cash at bank and in hand 

Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account. 

## 1.11 Liabilities and provisions 

Liabilities are recognised when there is an obligation at the Balance Sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably. 

Liabilities are recognised at the amount that the company anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide. 

Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised in the Statement of Financial Activities as a finance cost. 

## 1.12 Financial instruments 

The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method. 

## 1.13 Pensions 

The company operates a defined contribution pension scheme and the pension charge represents the amounts payable by the company to the fund in respect of the year. 

i 

Page 17 



Chester Students’ Union 

Notes to the Financial Statements For the Year Ended 31 July 2023 

## {A Company Limited by Guarantee) 

## re 

1. Accounting policies (continued) 

## 1.14 Fund accounting 

General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the company and which have not been designated for other purposes. 

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the company for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements. 

2. Critical accounting estimates and areas of judgment 

Estimates and judgments are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. 

## Critical accounting estimates and assumptions: 

The company makes estimates and assumptions concerning the future. The resulting accounting estimates and assumptions will, by definition, seldom equal the related actual results. There are no estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year. 

3. Income from donations and legacies 

||Unrestricted|Restricted|Total|
|---|---|---|---|
||funds|funds|funds|
||2023|2023|2023|
||£|£|£|
|Grants|553,176|17,888|571,064|
||SESaoo———=|———|——_——|
||Unrestricted<br>funds|Restricted<br>funds|Total<br>funds|
||2022|2022|2022|
||£|£|£|
|Donations|5|-|fo]|
|Grants|521,176|26,481|547,657|
||521,181|26,481|547,662|



OI 

Page 18 



Notes to the Financial Statements For the Year Ended 31 July 2023 

## Chester Students’ Union 

(A Company Limited by Guarantee) 

## eS 

## 4. Income from charitable activities 

|||Unrestricted|Total|
|---|---|---|---|
|||funds|funds|
|||2023|2023|
|||£|£|
||Media Sales|15,654|15,664|
|||[| ——_________..---— 4|—<br>2X"|
|||Unrestricted|Total|
|||funds|funds|
|||2022|2022|
|||£|£|
||Media Sales|18,432|18,432|
|||SS|——————e———|
|5.|Investment income|||
|||Unrestricted|Total|
|||funds|funds|
|||2023|2023|
|||£|£|
||Bank interest received|358|358|
|||——————|———|
|||Unrestncted|Total|
|||funds|funds|
|||2022|2022|
|||£|£|
||Bank interest received|49|19|
|||——|————Sa|



eneae Page 19 



Chester Students‘ Union 

## {A Company Limited by Guarantee) 

Notes to the Financial Statements For the Year Ended 31 July 2023 

pl 

## 6. Analysis of expenditure by activities 


**----- Start of picture text -----**<br>
||||||||
|---|---|---|---|---|---|---|
|Activities|
|undertaken|Support|Total|
|directly|costs|funds|
|2023|2023|2023|
|£|£|£|
|Improvement|of|Student|Experience|45,040|519,352|564,392|
|Activities|
|undertaken|Support|Total|
|directly|costs|funds|
|2022|2022|2022|
|£|£|£|
|Improvement|of Student|Experience|44,212|522,922|567,134|

**----- End of picture text -----**<br>


## Analysis of direct costs 


**----- Start of picture text -----**<br>
||||||
|---|---|---|---|---|
|Total|Total|
|funds|funds|
|2023|2022|
|£|£|
|Summer|Ball|8,808|10,481|
|Events|&|Campaigns|2,300|2,514|
|Student|Advice|3,603|3,351|
|Student|Activities|21,249|11,866|
|SERs|9,080|16,000|
|45,040|44,212|

**----- End of picture text -----**<br>


Ee 

Page 20 



Notes to the Financial Statements For the Year Ended 31 July 2023 

## Chester Students’ Union (A Company Limited by Guarantee) 

## i 

## 6. Analysis of expenditure by activities (continued) 

## Analysis of support costs 

||Total|Total|
|---|---|---|
||funds|funds|
||2023|2022|
||£|£|
|Staffcosts|418,620|452,160|
|Depreciation|4,734|4,125|
|Insurance|11,864|10,927|
|ITcosts|4,293|4,088|
|Stafftraining|16,583|7,534|
|Technologycosts|987|482|
|Legal& professional fees|33,540|21,066|
|Profit on the sale offixed assets|(129)|-|
|Miscellaneous expenditure|26,260|19,946|
|Accountancyfees|2,600|2,600|
||619,352|522,922|
||————ooo——E————|EOE|



## 7. Turnover 

The whole of the turnover is attributable to the principal activity of the charitable company. 

All turnover arose within the United Kingdom. 

## 8. Net income/(expenditure) 

|Net income/(expenditure)|||
|---|---|---|
||2023|2022|
||£|£|
|Depreciation oftangiblefixed assets -owned by charity|4,734|4,124|
|Operating lease rentals|7,500|7,500|
||12,234|11,624|



——SS=—- ——Ue 

I Page 21 



Chester Students’ Union 

. 

Notes to the Financial Statements For the Year Ended 31 July 2023 

(A Company Limited by Guarantee) 

## a 

## 9. Staff costs 

||2023|2022|
|---|---|---|
||£|£|
|Wages and salaries|394,605|410,349|
|Social security costs|18,025|33,603|
|Contribution to defined contribution pension schemes|5,990|8,208|
||418,620|452,160|



The average number of persons employed by the company during the year was as follows: 

||||2023|2022|
|---|---|---|---|---|
||||No.|No.|
|Sabatical|Officer|Trustees|3|4|
|Managers|||5|7|
|Staff|||11|9|
||||19|20|



No employee received remuneration amounting to more than £60,000 in either year. 

The total amount of employee benefits (including pension contributions) received by key management personnel for their services to the charitable company are £149,578 (2022: £280,984). 

Key management personne! comprise the CEO, Management team and Volunteer trustees. Trustees are not remunerated for their work as trustees (see note 10 below). 

a 

Page 22 



Chester Students’ Union 

## (A Company Limited by Guarantee) 

Notes to the Financial Statements For the Year Ended 31 July 2023 

## nn 

## 10. Trustees’ remuneration and expenses 

The total remuneration costs for the sabbatical officer trustees amounted to £61,676 (2022: £87,902). These costs relate to remuneration received as sabbatical officers, rather than as trustees. 

During the year ended 31 July 2023, trustees expenses have been incurred totalling Enil (2022: £53). 

## During the year, no trustees received any benefit in kind (2022: Enil). 

During the year retirement benefits were accruing to 3 Trustees (2022: 5) in respect of defined contribution pension schemes. 

## 11. Tangible fixed assets 

||Fixtures and<br>fittings<br>£|Fixtures and<br>fittings<br>£|Office<br>equipment<br>£|Computer<br>equipment<br>£|Total<br>£|
|---|---|---|---|---|---|
|Cost orvaluation||||||
|At 1 August2022||27,893|2,296|40,041|70,230|
|Additions||-|.|1,478|1,478|
|Disposals||-|-|(1,147)|(1,147)|
|At 31 July2023||27,893|2,296|40,372|70,561|
|Depreciation||||||
|At 1 August2022||27,893|470|27,116|55,479|
|Charge fortheyear||-|762|3,972|4,734|
|On disposals||-|-|{229)|(229)|
|At 31 July2023||27,893|1,232|30,859|59,984|
|Net book value||||||
|At 31 July2023||-|1,064|9,513|10,577|
||||—|{_————|EEI|I|
|At31 July2022||-|1,826|12,925|14,751|
||———————||———==_—_—=_=__—_—_=—Oo—>——=_—a2aaz||EEE|



eT Page 23 



(A Company Limited by Guarantee) 

## Chester Students’ Union 

## Notes to the Financial Statements 

For the Year Ended 31 July 2023 

## el 

## 12. Debtors 

||2023|2022|
|---|---|---|
||£|£|
|Due within one year|||
|Trade debtors|1,365|-|
|Other debtors|8,457|5,607|
|Prepayments and accrued income|39,852|70,637|
||49,674|76,244|



## 13. Creditors: Amounts falling due within one year 

||2023|2022|
|---|---|---|
||£|£|
|Trade creditors|14,661|19,987|
|Other taxation and social security|5,991|7,237|
|Othercreditors|6,614|4,789|
|Accruals|2,734|2,712|
||30,000|34,725|



## 14. Financial instruments 

|||2023|2022|
|---|---|---|---|
|||£|£|
|Financial|assets|||
|Financial|assets measured at fair value through income and expenditure|152,346|103,643|
|Financial|assets measured at amortised cost|9,822|5,607|
|||162,168|109,250|
|||2023|2022|
|||£|£|
|Financial|liabilities|||
|Financial|liabilitiesmeasuredatamortisedcost|30,000|34,725|



Financial assets measured at fair value through income and expenditure comprise cash and bank balances. 

Financial assets measured at amortised cost comprise trade and other debtors. 

Financial liabilities measured at amortised cost comprise trade and other creditors, other taxation and social security and accruals. 

a 

Page 24 



## Chester Students’ Union 

## (A Company Limited by Guarantee) 

## Notes to the Financial Statements 

For the Year Ended 31 July 2023 

i 

## 15. Statement of funds 

## Statement of funds - current year 

||Balance at|1|||Balance at|
|---|---|---|---|---|---|
||August2022||income|Expenditure|31 July 2023|
|||£|£|£|£|
|Unrestricted funds||||||
|Reserves|159,913||569,188|(546,504)|182,597|
|Restricted funds||||||
|Summer ball|-||8,808|(8,808)|-|
|SERS|-||9,080|(9,080)|-|
||-||17,888|(17,888)|-|
|Total offunds|159,913||587,076|{564,392}|182,597|
||SS||TS|TS||



COne neo Page 25 



Chester Students’ Union 

## (A Company Limited by Guarantee) 

Notes to the Financial Statements For the Year Ended 31 July 2023 

ae 

## 15. Statement of funds (continued) 

Statement of funds - prior year 

||Balance at||||
|---|---|---|---|---|
||1 August|||Balanceat|
||2021|Income|Expenditure|37 July2022|
||£|£|£|£|
|Unrestricted funds|||||
|Reserves|160,934|539,632|(540,653)|159,913|
|Restricted funds|||||
|Summer Ball|-|10,481|(10,487)|-|
|SERs|-|16,000|(16,000)|-|
||-|26,481|(26,481)|-|
|Total offunds|160,934|566,113|(567, 134)|159,913|
|Analysis of net assets between funds|||||
|Analysis of net assets between funds -currentyear|||||
||||Unrestricted|Total|
||||funds|funds|
||||2023|2023|
||||£|£|
|Tangiblefixed assets|||10,577|10,577|
|Current assets|||202,020|202,020|
|Creditors due within one year|||(30,000)|(30,000)|
|Total|||182,597|182,597|



## 16. Analysis of net assets between funds 

i Page 26 



Chester Students’ Union 

## (A Company Limited by Guarantee) 

## Notes to the Financial Statements 

## For the Year Ended 31 July 2023 

## i 

## 16. Analysis of net assets between funds (continued) 

## Analysis of net assets between funds - prior year 

|Analysis of net assetsnet assetsassets between fundsfunds - prior yearyear|||
|---|---|---|
||Unrestricted<br>funds|Total<br>funds|
||2022|2022|
||£|£|
|Tangiblefixed assets|14,751|14,751|
|Current assets|179,887|179,887|
|Creditors due withinoneyear|(34,725)|(34,725)|
|Total|159,913<br>rr|159,913|



47. Reconciliation of net movement in funds to net cash flow from operating activities 

||||2023|2022|
|---|---|---|---|---|
||||£|£|
||Net income/expenditure for the year<br>Activities)|(as per Statement of Financial|22,684|(1,021)|
||Adjustments for:||||
||Depreciation charges||4,734|4,124|
||Profit on the sate offixed assets||(129)|-|
||Decrease in debtors||26,570|26,731|
||Increase/(decrease) in creditors||(4,725)|3,968|
||Netcash provided byoperating activities||49,134|33,802|
||||EEE||
|18.|Analysis ofcash and cash equivalents||||
||||2023|2022|
||||£|£|
||Cash in hand||162,346|103,643|
||Totalcashandcash equivalents||152,346|103,643|
||||Er|———————|



tren 

Page 27 



Chester Students’ Union 

## (A Company Limited by Guarantee) 

## Notes to the Financial Statements 

## For the Year Ended 31 July 2023 aOO Oe 

## 19. Analysis of changes [n net debt 


**----- Start of picture text -----**<br>
|||||||||
|---|---|---|---|---|---|---|---|
|At|1|August|At|31|July|
|2022|Cash|flows|2023|
|£|£|£|
|Cash|at bank|and|in|hand|103,643|48,703|152,346|
|103,643|48,703|152,346|

**----- End of picture text -----**<br>


## 20. Pension commitments 

The union operates a defined contribution pension scheme for al! qualifying employees, The assets of the scheme are held separately from those of the union in an independently administered fund. 

The total cost of the year of £5,990 (2022: £8,208) represents employer contributions to the scheme. At the year end, an amount of ENil (2022: ENil} was outstanding. 

## 21. Operating lease commitments 

At 31 July 2023 the company had commitments to make future minimum lease payments under noncancellable operating leases as follows: 


**----- Start of picture text -----**<br>
|||||||
|---|---|---|---|---|---|
|2023|2022|
|£|£|
|Not|tater than|1|year|7,500|7,500|

**----- End of picture text -----**<br>


## 22. Related party transactions 

The charitable company’s governing parent body is the University of Chester. During the year the company received grants totalling £571,064 (2022: £547,657). 

During the year the union paid rent to the University of Chester of £7,500 (2022: £7,500) 

As at 31 July 2023 the amount due from the University of Chester was ENil (2022: £Nil) and the balance owed to the University of Chester was £9,389 (2022: £9,000). 

In addition to the above, as at 31 July 2023 accrued income due from the University of Chester was £25,064 (2022: £52,146). 

## ESTO 

Page 28