Reglstered numbei-: 07623621 Charity i)uii)ber- 1149397 Chèster Students, Union Trustees, Report and Flnonclol Slotements For the Yeoi- Ended 31 July 2024 DAINS AUDIT
Chester Sttsdents, Union (A Company Limited by Guarttntée) Contents Page Reference and Admtnistrotive Details of the Compony. its Trustees and Advisers Trustees, Report Trustees, Responsibilities Stotement Independent Exomlner's Report 9-10 Statement of Financicjl Activlties 11 Bolance Sheet 12-13 statement of Cash Flows 14 Nates to the Financlal Statements 15-3Q
Cliester Students, Uiiioii
(A Company Llmited bu Guaroiitee)
Ref erence and Administratlve Details of the Company. izs Trustees ond Advisors
For the Yeor Ended 31 July 2024
Trustees
Loui'en Beckett (oppolnted 25 Juno 2024)
Grohom Bi'lscoe loppoiiited 25 Jvne 2024)
Lillion Wolson (oppoiriled l Julu 2024)
Sunin)er AIMscougli {opDoinled 1 Ju.,'"y 2024)
Stephen Docking, OBE (oppoinled 25 JLJne 2024)
Edword Rlgby (oppolnted 25 Julie 2024)
Dennis 14cginley
Chestei. Stvdeiits, Union (A Company Llmited ljy Guerantee) Trustees, Report For the Year Ended 31 July 2024 Tlie Ti'uslees pi-esent their oiinuol report togerher oiih the Indei)endeiiily exomined Iliionciol stolements of the company for thp. year t August 2023 10 31 July 2024 The TriJ stees confii'ni iliot the Annual Report ond finonciol statements of Ilie aompoffly c.o.Trplg wil"h. the currenl .%lotutory requirements, Ihp reqviremeni5 of the compony's governing document Jnd the piowisions Oi tlie <lolemenl ol Flecommenoed Pr(JCiice (SORP). ClDplicoble io charlties preporiiig their accounts in acLordonce with the FiYan=iol Repoi"lin¥ 51undord opplicable In Ilie Ul< und Republic ol Irelond (f.RS 102) (ef'i ectlve l Jonvoru 2019) as ome.nded UpèJOte Bullelln l (effective 1 Janor¥ 2019). Policies cjnd Objectives Tlie Objects of the Uolon I"Objevls') Lire Ihe odvanrement of education of Studenis Ot Univer*ity of Chester for the public benefit by.. Pi"omoling the interests ond welfore cf Students ol University ol Chester dur1ng Ilielr course of study ond representlng, suppoiting ond odvisino Students 8eirig the recagiiised represeriloliiie channel between Siudents and University of Lhester ony other externol badies Providing social. cullui"cl. spaning oiid i-eci"eoilon.ol llclivllies oiid fai"u111s Ic)r dlscussiois and debote lor the persop)ul development ol Iti Students Strategic report o. Context FollDwlna the commlssioning, by on. interlm losk ond finlsh Turnaround Boord. of o ComprehenSe health asse.ssment -nt recommendations. Thls by GreeFihouse Ltd in March 2023 OTr UCiiJn plun ivos establi£hed lo oddi.ess the most urg- was overseen by Inier.;m CCO 1st November 01)d Change E),.rector. Scoti Teniple-Fai'mer. Thp Studenrs, Unlon eniered o formal lJriorournd period losttng 12months Olid tlie prcgi.ess of these octioiis wos reported lo the inte.ri.Th Turnoround 8oord, Copilenl witli tFe progi-ess being niode by CSU stoff ond the lempoiary slrotegy put in ploce bu Scoit Temple Foi"mei' culmincsting in the appointment of permonent CEO, Jamie Morrls. ¥n March 2024. lh? Turnoround Boord formollJi disbondeJ on 23 Api'll 2024. CSU continued with o revlsed mlqsion thot concentrated on octivities dlrectly benefitlng the members and oidhg our pvrposes In the Article5 and 3994 Educolion Act. tl)ese being.. Advlce C0171munity. Opportunllie5. ond Voice. FoiTrl" new externol trustccs were oppointcd Iii June 2024 fui"Ihttr highliglllng the peilod of srablllliJ ond effeciive govei"f)oice thol CSU is now lirtnly 111 Poge 2
Chester Students, Union (A Company Limited G130rontee) Trustoes, Report (cantimued) For tlie Year Ended 31 July 2024 Strategic report (conllnued) {contlnued) Further oclivilLJ on dcveloping o longer-tei-m sliotegu will toke pluce in 2024~25. b. Main octivities undertoken to furthei. the chority's purposes for the publlc benefit CSU stctff ond ils Trustees ensure the orgonisotion is focused or, Its prlinory purpose of Ihe odvoncen)ent of the educotion ol students ot the unlvei.sity of Chestei ond the Booid ocls wltli due reoord for the requirements under the Chorilies Act to ensure ils octiiqlfes meet Its obligolions wlth regord to F>ublic be.nefit. The remoiiidei. of tliis I'eporl I'eflects the oclivilg undertoken by CSU 111 2025-2024_ Stud&nt Advlce To the end ol July 2024. tlie odv*cè seivlce hocl undertaken 452 new coses coirpoi ed to 816 for the some perlod in 21/22 however, os o sign ol the comFlexily of coses beino seen wilhip. tlie servlce. 264 oppoiiitments took ploce compored to 163 for the same perlod the year before. The split by tOPlC 15 05 tollows,. 49%- Acodemic Appeols 19% - Other 15% - Acodemic Conduct 6% ~ Exceptional Circum5tonces . Professlomoi Suitubllity Ponels 5% - Comploints The sei vice undertokes feedbock wltl meinbers who use the sei vlce ond coinplet¢ a sui'vey ot ihe completion of Iheli. case. Of those thol responded.. 92Yts ogiee thou I'eceived the odvice Ihey needod lo resolve their qvei"y 9286 confidence Ii) the uclvice recelved Communiiy 2.700 events ticke15 pul-chosed through our webslte. 3.296 ottendees as CSU led events 686 ctlendees ol student led event5 CSU turned ils olter).tlon to supporting our Ineinbers to plon ond focilitote their eveilts ihls yeor, Our Sociery Commlltees hove led on Ylbraiil ond lively evenls includlng Holi. Nepolese New Yeor <Ji)d o Christnias Exlrovagonzo performonce to noine just o few. Wellbeing Fesl wos o Ihi-ee-week progromme of over 70 wellbelng ocllvllles ocross the Uoc slles ond Cenlres to pi'omo1e physlcol. soclol. Inental. culturol ond SPi2iluol wellbeing. Led by CSU. our meinbers. local businesses ond orgap..ised in colloboi-otion willi vorious Uoc deporlmenls The eveni sow ovei" 560 sludenis oltemd (Jid enloij the activitie5 with many reporting these octivltles gove them ali ¢)pportuiiily to meet new people ond bvlld soci05 conneclions, Pdge I
Chester Students, Unlon (A Company Limited by Guarontee) Trustees, Report (contlnued) For the Year Ended 51 July 2024 Strategic report (contlnued) (continued) Cliestivol took ploce on IenesdaY 27 M:Irch wllh jLisI under. 700 slvdents ollending de5Plte Ihc ioinT This yeorfs event Included a stoge in the centre of cor.pus ,eoturing per i ormance5 from studenis one.. a DJ, o locol vinroge clolhes store ond bookstore In the smoll lioll. o Inlni ppiting fai'm rjnd free mliii.Ouich poncakes. The relationship between CSU ond the UniveY51t¥' Is sli'ongei" IhJn ev&r befor'e oiid we continuc lo build links within the locol comniuiilly to pronioie ihe wldei olfeiings within our universsty city ond tawn5 05 well 05 building coheslor) between our inerp.bers ond residents os evider)ced Ihi'ouah our oitendonce oi Icccl i'esident toiln hall meelings. -SU continue to be repi espntpd on itmgortoni decison-1ksnQ ur,iversily commillees ensurirg the 5tiJdent voice is olwoy% r.oiisidered and Iliol tliere is elleclive. studenl focvsed spendirTrg ol "l)e Universily's public ond private fvf6s, Opportunitieg 6 Aflilioted Societies 206 cttmrniltee pasilions held by sluder)Is 1,144 members £4,000 Fundilig to 5UPPOlt Events Dn;1 Arllvi1Se& ThTS ocodemlc ytsor sow a coryplptP. DVF,'haul of how oJr socielyes ore supported Wilh the louiich of C_SU'S Comniil".ee Hill) on our websiie, eacli sociely comimittee Invited io otreiicl lermlu o'evelapmpril leetingS ond rele.vont in-pei son ond oiiline ti'oiiiing ¥nodules our societles are much more eiigoqed Ihaii previovs yaars. This yeoi. sow 32 iiew sociÈties crected wlth the b ggesl gi'owili li,. Academic aiid Cullurol & Iniei'notlonol bosed sociEt';es wich Include CriminGlogy. Event%. Foshiav, Postgcoduote Reseorcl). 8a4gladesh ond Nleoolpse Chinese to nunie just o fevj. Volce 356 Course Reps Aecrviled. 10 ccii)éidntes Voles Cost - 3.921 Voter Turnout - 11% This yeor s Sprlpo Elecllan% .£aw oll poslllcns contested. Vorer tui-nout inci-eased bLI Syo ond votes cost Incrèased by 34% compored to ibe pr'evious Ljeor. DJe io unl•Fc.5eeii circumstorkces the Pi-esident ond Vlce Pi'esideni Ediicatlon Elect made tlie deci51cin not to toke theli. I'eapeclive role.s ond therfrFoi'e CSU unc.ei'took a By-Election for tnese ocsitlQJiS olong with our Studeiii Counctl Elections In MOLJ Desijile Ili- Iline of y'eoi" CSU saw o greoler mber of votès CLlSt oiid 0 7UA turnout. Individual inforimailon. sess'ons were lield for ecch condidote ond oll con4idntes were iniiited to o brieflng to enhonce tliei¥ kiiok¥lLdge ond skills in runnino theii. comgalgns. The elecliqii pe*iod wos o(Sverllsed ocross carM0Se5 oncl cenlies Iliiough pop vkI5, boiiners tÈievisloY sci'eens. Incentive5 we.re. olfei'ed lo votei"s including on Air Frytir ond Amo201", Vouchers Page 4
Chestèr Students, Union {A Cortipot)u Limited by Guarantee) Trustees, Report (continued) For the Year Ended 31 July 2024 Strateglc report {continued) Cctsntinued) CSU wos delighted lo host Ihis geor's 1839 owai'ds (sloff ond sludcnl recognirion owoi-ds) Ji Chester Towii 14011. Willi o 'h both Uoc stoll ond slJdenl chonge to cotegoiies ot owurds and robutt crilerio. this yeor sow over 600 nomiiiolions Wii leoders nomliioled for o ronge ol owoi'ds. 600 l1ominctlOn5 13 Awords Presented 115 Attendees The evening oeltsbraled ',he Incredible achievemer,ts of oulstonding members of the Iloc comniunity ond sow colleagues ond studei?Is come together lo recoynise thp hord work ond coiiimitiiierit of those who hov¥ mode o dillei-ence to Ilie studenl expefience In 2023-24. c. Fvtvi"e developmenls Following the forinL)I diqsolutlcin of CSU'S Turiioround Boord the focus hos beeii on developlno o yeorlong operalionol plon fhot cenlres on eight prioritie5 (pleose see ollo)ched). These priorities were Identified Ili.'ougli weekly meetinos with st()If and feedbock obioined from IIE 2023 01-gonisotional heoltl) assessment. These priorities ore os follo1$ Strateglc direction Working on o longer-ieim s1i.otegu lor ri)èster Studenig. Unioii which seeks widespreod slvdenl p(Irticipotion and allgns wltli the Unlverslty's slrotegy ond partnership Dote confldence - We will Idenlifu cleor, useful ond reportoble metrics ol success for every leamlorea with eocli teom i esponsible for. reportii)g regulorly 011 their or'eos Engugément with democrcjcy - 14ore emphasis on elections ond democrocy including o I"ecognisoble electioiis brond, an octive ond engoged studenl council ond effecllve CSU ti'uslee boord 4. Organisatlonal volues - Cnsuring our Stuclent Offlcers 01)d Uiiion stolf feèl supported and volued bu eoch otlier, stvdent members, ond oui. unlversily paitners Branding Chonges irs brond (rJhyslcol Ond online) to recognise our diverse offe-, ing ond indepeiideiice from ihe Urtiversily whlch Iiistils o sense of fun ond belong*nq Presence A ref reslied spoce ol Exton Pork ond cleor pliysicol und digitol presence tst every Univei'sily of Cl)ester slte 7. Student Volce Introducli)g sijstolnoble ond collaboro7tive change to coptvi-lng student voice In ocodemic and prolesgonol ser[ce oreos Belonging More regvlor ond engoged ootlvities and events thot pi'omoie communlly, inclusion ond o sense ol belonging acr05£ the ocodeml¢ ueor Poge 5
Chester Students. Unlon (A Compuny Lirnited bu Guarantee) I'rustees, Report (contl+7ued) For the Year Ended 31 July 2024 Strotegic report (continued> Flnanclol review o. Golng concèrn After moking oppropriote enqulrle4, Ihe trustees have o reosonoblè expectolion Ihol the eompaiiy lias adeouale resources to c.ontlnue In operalional exislen£e lor the foreseeoble lutui'e. For this recson they coTrtinvp. to odopl the goirTrg concern bosis in proparlno the fip.onciol sioten)enls. Further delolls rpgai'dino ihe odopllori ol the goliig concern bosls car, be louid in 11)e Accounliiig Policies. b. Flnonciol Aeview The dp.loll ol the 2023/24 fiooTcial performcince Is rjeroiled lofer in thls document. For the yeor ended 31 July 2024, the CSU position kn'os o net decrease in fuiids of £3.112, which decreosed totol funds to £';79.884 Structure. governonce ond munaoenient a. Constltvtion "he conipanLJ Is reglslered as o churilable compaiiy iimitad by guoraniee ond wos set up by o Trust deed. The oolmpany is conslilvled under a Trusi deed ond is o reoisL&ied clioritl I nuqiber 1149397. b. Methods of appolntnieftt or election of Trustees The monagemenl of the Unioii is the iespon5.'bility of tlie Trustees who ole elected and co-opted under ihe terms of the Ti"usl deed. Olficer Ti'uJieeg ore electea bu ballot of all lull members cf the Dnitsii. Studenl and External Ti'uslees are (Jppointed by fellow Trustees. Organisational structvre and declsion making The Ti'usiee Boord i.£ i-e5ponslble lor overseelng the monogeinent oiid adininisli-olion of the Unlon. Theu holie lllt5rnole responsibllitu lor the governonce. budget and emploumeiit IssLJes os well os rhe s',rolegic direction of the Up.ion. much of whicl) is de.egoled to olliceis ond slol! CurieiitlLJ Ihei'e ore no S¥JbcomiDittees. c. Reloted party relJtlonshlps The T'elotior)shlp between Lli)iversily ol Cl)ester onJ Chestei. Students, Union is estobllshed iq the neoulallons of th.6 Uriivei'sily and detoiled ihe Chestei S1udents' Uiiion's Articles recently fe-oppi'ov2d by both orgoi)1s0lion Cliesler Sluderils, Union receives a block groiil fioni the Univei 51ty of Chester (Jnd rents the grouiie floor SPDLe ot a buildlng on Exton Pork cory,pus. The Union continue5 to gei)e¥'ole 0 5moll 5vI"plus from media 501es cctiiyjly. There Is no eosoii 20 be';jrJve thot Ihio 01 equivalerit support from the univei'slly wlll not continue lor the loreseeoble fulvre, os the E"dJcotlon Act 1994 irtiposes o duty on Ihe un',vei's'ty to ensvre the f,'noiiclol viol)ility of its stiJdcnt representative body. Poge 6
Chester Students, Union (A Compunu Llmited by Gutsruntee) Trustees, Report (continuèd) For the Year Ended 31 July 2024 Structure. governance and mt]nageinent (coDtlnued) d. Risk rnonogement The Ti-ustee 8oord of Ihp Sludeiils, bnlon h05 examined the mojor sli'oteoic, buslness ond operotlonol risks foceo, by the Chester Studeiits, Union. Tlie rlsk reglstpr has beer) updoted and will be I"evlewed belore eoili booi-d Tneetliig. Ri.Ek Is olso reported (Jnd revlewed ol 0 Boord sub-cryrmitlep. Bvdgetary orid lntei.nol conlrol risks hove been niiniin5sed by th?. iniplenientalic>n of pi'ocedures fof outhorlsotlon of all tfonsoclions ond projects Procedures are in ploce lo ensure complionce with health ond sotety lor .%lof l. volunteers ond porliciponts ol oll oclivllles orgonlsed by the unon. These procedurès ol-e pei'iodlcolly reviewed lo ensure tl)tst tlTrey continue to meet the needs of the Students. Unlon. Funds held os custodian Cheslei Studeiils. Unlon acts ov custodlan for lund5 1 aised by the sttsdent socielles Iheniselve.s. omountlng to £7.327 <2025. £6.614) ot the yeor end, in oddition to ihe gront svppoi't 11 dbsburses to IhciT os sl)own In the occounls. Approved by ol'der of the members of the board of Trustees sigiied on theii behull by,. L Watson Pi-Èsldenl Dote., Poge 7
Chester %tud@ntÈ' Unioii (A Company Limlted by Guaraiitee) Stotement of Trustees, responslbllltles For the Year Ended 31 July 2024 The T&"ustee5 (who ore OIC0 Ib.c direclor5 of the ccmponu lor the purposes of c.omponL, low) ore responsible for pi'epuii?I g the Trv.stees' Reooi"t including the Strategic Report ancl tlie linonciol 51otements in occordonce with oppllcoble low aiid Uiiited Kingdom Accovnlii"io Stundoi'd5 (United Klngdom Ge.iierolliJ Acc.epted Accounting Pi"ocfice.). Compony l(Jw require5 Ilie Trustees to pr'epare financlul statements lor ec.ch linanciol year. Under componu low, the s I'usteeo must not appi-ove the ft'nor,ciol statetr,enls unless they ore sotisfied thot theu glve o trije ond fair view ol the stole of olfolrs of the MpanY or)d ol ECS incomiftg I'esovrces opplicolion of resovi'ces. inclb,diiig ils income ond expenditure, for r11ol perlod. In pi"eparing ille linoncio! statements, the Trustees ore requli'ed to.. select 5uiittble occounling policies ond then apply Ihem consislenllu., observe rhe methods und princip.e5 of the Chorities SORP (Ffts 10?),. -oJiitiiio èstimcl&s Ihol ui e I"eosonoble oncj pi'udent.. piiuke jiidoments ond ac" 5fOte w.ether opplicable UK Accoup,ting Stcsndords {FRS 102) hove been follow'ed, svbjecl to ony motei.ic ceportures disclospd ond exp'.oined in the finonclol sloteineiits., prepore ihe finonciul statements on the going concei-n bosis unless It Is Inoppropviale to pi-esume Ihot the componu will continLJe in business The Trustees or-e respontible fo* keeping odequoie uccobn-,ing I'eccrds tF>ot ol-e sulflclent to show ond exDloin the compc,ny's transacl%Qn5 ond d15close ivi11i reason.oble arciir(scy at ony Ilme the finoriciol p05ilion of the componLJ ond enoble thom to ensure thot thè linaiiclol stalenients coniplJi with the Componles Act 2006. rheu ure also I'esp0115ik)le foi- sofegaorclir,g tle a55els of the company oftd he.nce for tokiyg I'easonoble 51ep5 for the pi eveiitioii ond detectlon ot trovd ond other irregulorities. Approved bu order of the members of the boord of Triistees ond sijr.ed on ils kneb.clf by.. L Watso President Do:,e'. Poqe 8
Chester. Students, Unlon
(A ComponLJ Limited by Guaroniee)
Ii)dependent Exomlner's Report
For the Year Ended 31 Julu 2024
Independent Examlner's Report to the Trustee5 0* Chester Student5, Union {'the compunu,)
I repoi'l to the cliui'iiy Trustees on Iny exaiiiinotiJii ol the occouiils of the conipoiiy for Ilie Year ended 31 .July ?024.
Responsibilltles and Basls of RÈpart
As ltrie Ti-ustees of the compoiiy (und its dSrectors lor tlie i)Drposes of compariy low) you are respoii%ible loi. the
prepoi-otion ol. rhe occounis In occordonce. wlth rhe requlrem@nts ol Ilie Conipunles Act 2006 ('Ilie 2006 Act,).
H
chester Students, Union (A Company Limited by Guctrantee) Independent Exomlnei s Report (continued) For the Yeor Ended 31 Julu 2024 Use of Our Aeport The vse of Ihis report is mode 50Iely to ihe conipony's Trustees. os o body. in occordince wlth Port 4 cjf 1he Cho¥lties (Acc.ounts and Reporis) Regulo'.ionD 2008. lu work has been Lndti'takel so Ih£it l Mlght 51afe ro 11)e coi)Iponu's Ti'vstees those moltei £ l ain require.d to stote 10 tliem sn Independent Eyjminei s Reporl ond lor no other pui"pose. To the fullest exlenl perniitled by law, 5 do not occept Ol. OS5uinc i-cspoiisilJi il JL to oiiijone olhei" thofj the -ompany an(i th? coinponLJ'S Trustees os o body, foi. work or lor 11)is repoi-l. Signed. Doted.. ¢,(0 smn He,wkln% FCA Doins Audit Llmlted Suite. 2. Albion Housp 2 Elrljrio OfE ice Vllloge Forge Lone Stole on Trenr Stalfordsliire STI JRQ Poge 10
Chester Sttsdents, Uiiion (A Conipuny Limited by Guar(Jnteé) Statement of f inancial activities (Incorpoi'oiino Income and expenditure account) For the Yeor Ended 31 July 2024 Unrèstricted funds 2024 Restricted funds 2024 Total f unds 2024 Tolol funds t4ote Income from.. Donatitsns and legucies Choi-lloble ocllvilies 525.501 19,874 545.375 571,064 17,812 17.812 15.654 Inveslmenls 1.801 1,801 558 Totol income 545.114 19,874 564.9Be 527.076 Eypenditure on- CharltcJb1É octlvllSes'. Iinprovemenl of Student Experien 548.826 19,874 56Q.700 564.392 Total expenditurè 548.826 19,874 568,700 564.392 Net move¥nent In funds (3,712) (3,712) 22.684 RÈttsnclliotiOT) of f*Jnds'. Totol funus bi'ought forwtsrd Nel rnovemenl funds 182.597 182.597 159,913 {3,712) {5.712> 22.684 Totol funds corri¢d forword 178,885 178.885 182.597 The Sto)lement of finonciol ActlvllFes Includes oll gdins ond losses recognised ir, Ihe year., The no>tes on puoes 15 10 30 lorm pol'l ol these finogcial statements. Page I'l
Cliester Student5, Union (A Compuny Limited by Gucroiitee) Registered nuinber- 07623621 Balance Slieet A5 at 31 Jvly 2024 2024 2023 Note Flxed osset$ Toiigible 05sets 8.690 10.577 8,690 10,577 Current assets Debtors 12 91,397 49,674 Cosh ot bonk oiid In hund 106.713 152.346 198,110 202.020 CreditoTr'. omovnts folling due wilhin one yeor 13 (27,975) (30.000) Nei current assels 170.195 172.020 Totol net ossèts 178,885 182.597 chorltu fund2 Resli-irtpd funds 14 Unre.slricted funds 14 178.885 182.597 Total funds 178,885 182.597 Pooe 12
Chester Stiidents, Unlon (A Coniponu Llmited by Guorontee) stotenient of Casti Flows For the Year Ended 31 July 2024 2024 2023 Cosh f lows f rom operoting actlvltles Net casli used in opercjting octivilles (43,567) Cosh flows from investlng actlvities Pi'cceeds . I'om the sole of longible. fiyod osse15 Puichose of tangible f""xed ossets 491 1,047 (2.557) (1.478) Net cash Used In investing octlvlties {2,066) (431) Chor)ge in cosh cush equivalents in the yeor <45.633) 48.703 Ccsh and cash equivalents ot the beginning ol Ih#S yeor 152.346 103.643 Cash and rash èquivolentg ut the end of tl?e year 106.713 151.346 The iiotes op. puges IS t* 30 fcrm pai"1 O,, these flnanilal slotements Poge 14
Chester Students, Union (A Componu Llrt)Ited by Guarontee) Notes to thÈ Finoncial Stotements For ihe Year Ended 51 July 2024 A¢¢ounting policies 1.1 6esls of preparation of f inoncial statemènts Tlie f'iiiorrciol stotements have been pi'epoi"ed li) accordonce with the Chorities SORP (FFIS 102) Accouiiting ond Repoi'ting by Choritles.. Stoleinent of Recommende(I Practice opplicoble to charities preparing thelr occounts in occordonce with the Financiol Aeporling Standoi'd applicable In tlie Ul< ond R-public of Irelond (FRS 102) (effective l JonorY 2019). Ilie Finoiiclal Reporting Standoid opplicoble in the UK and Flepublic of Irelond (rfls 102) ond the Coinpoiiies Act 2006. Chester Students, Uiiion meets the def inilion of o PLJblic benefit enlitLJ vnder FR5 102. Assets ond liobilities are inltiolly i-ecognised ot hlstoricol cost or Ironsactlon volkne uiiless otherwise stuted in the relevont accounting policy. 1.2 Companu status The compony. is a compoiiu limited by guarontee Tlie Inembei"s of the compony al'e eac.h and everu stijdenl who has r)ot opled out of membei-ship and Ihe off icet" Ti-ustees of the Union. I n the event of the componu beiD.g wound up. the lioblllty in respect of the guarontee Is limited ta ane pennu per member of the compony. 1.5 Going concern Al the time of opprovliig 11)e accouiits. the trustees hovg o I'easonoble expectotlon thol the chority l)as odequote resources to conlinue in operation exlstence for ihe foi-eseeoble f utui'e ond therefore the Irustees coiitiiiutt to adopt the golng concern basis of uccouiiting in preparing the occounts. Page IS
chester aetudents, Unio (A Compon¥ Limited by Guarantee) Noles to the Ftnonclal Statements For the Yoor Ended 31 July 2024 AccountSng policiès <conlinued) 1,4 Income A,:1 Income is I'erognised once the compony hos entitlemeyt lo the incoine, It Is probable thot the income will be recp.ived ond the omounl of income receivcble cali be meosui.ed reliobly. Gi ants ol'e included in the Stoteirent of Finoiiclal Actlvltles ori a receivable bosis. The balance of Iiicome i-eceived for Qpeclfic pui-poses but not expended dui'ing ttie peiio(J Is shown in the relevont funds on the Bolonce Sheet. Whei-e income is receiL'ed in advance. of entitlement of i-eceipt, Its recognition Is deferred oncl included iii ci-editot"s as defp.rred iiiconie. Where entillenient occurs belore income is received, Ilie income is accrued. Donoted ser'vices oi. f ocililies ore recogiiised when the compony hos control over the item. ony conditioiis associoted with the donoted item hcve been mel, the recelpt of economic beneflt Iiom the use of the coini)onLJ Ot the iteni is proboble and thot econoniic benetit con be meosured reliably. Jncoiiie lox i-ecaveroble in i-elclioii to investinent incoine 15 I-ecognised ol the tirne the investment ii)come is receivoble. Page 16
Chester Students, Vnioi? (A Compoi)u Liniited by Guai'ontee) Notes to the Flnanelol Stotements For the Yeor Ended 31 Julu 2024 Accovntlng policies (continued) 1.5 Expenditui-e Expendlture Is rp.cognised once there is o legol or consti Jc.tive obligotion to transfer econoinic benefit to o Ihird party. It is proboble tkiol o tronsfei. of econorniL oenefits will be i-equii.ed in settlement ond the amouiit of the obligotion con be measui.ed r'eliably. Expenditui-e Is clossified by ucllvily, The costs of eoch octlviiy ore made. up of the lolol of dlrect costs and shored costs. Including suppoi't costs Involved in undei.luk lig each uctivlly. Dli'ecl costs otti"ibutoble to u slngle octivity al-e ollocated directly to thot octivitij. Shared costs which contriuute to n)oYe than one actlvitLJ ond suppoi I costs which ore not olli'ibutable lo o slnglÈ actlvily are oppoi'tioned between those activities oli o ba515 consisteni Wltli the use of resources. Lentrol staff costs ore ollocoted on ilie bosis of lime spent, ond depreciolion chorges ollocoted on the poi.tioii of the asset's use. Fuiidroisiiig costs ore those incurred in seeking voluntory contributions and do rol Include the costs of disseminoling inforrr,otion in sLsppo¥I of the chariloL)le octivlties. Support costs are 11105e costs incui"i-ed directlu in sL*pport of expeiiditure ori the oJiecls Df the coimpony ond InclLJde projeci monogemenl corried out centrally. Governance costs or-e those Incurred in connectlon with odininlsti"olion ol the coillpony compliance wilh constitulionol ond statutoi-u I'equirements. Costs of generating f unds ore costs incurred 111 otlracling volunlory Incoiiie, ond IhDse incurred in ti'odiiig octivltles tnoi roise f uiid Choriloble aclivltles uiid Governonce costs al-e costs Incurred on tlie componiJ's operotions. Iiicluding support costs ond costs reloting to Ihe g(Jvernonce of the Conipany opportitsned lo chariloble activities. Pooe l?
Chester Sludents, Union (A Company Limited bLJ Guorantee) Notes to the Finoncial Statements For the Year Ended 31 July 2024 Accounting policies (continued) 1.6 Tungible flxed assets ond depreciotion Tongil)le fixecl ossets costlFlg £1,000 01" 171oi'e ore copitolised and recoqnised when futvi"e econoiiiic benefits ai e pi-oboble oiid the cost or volJe of the osspt be meosured i-eliobly. Tongible fixed ossets are initiQ711ui recognised ot cost. After recognition, under the cost Inodel. tonglble lixed ossets are measui-ed ot cost less occumuloled depi-eciolioii uiid (Jny occuinulated impairnient losses. All costs iiicui-red lo bl'ing o tangible fixed osset into ils inteiided woi'king r.ondi+ion Should be included iii ih.e rneosui'ement of cost. revlew of inipair171ei)t ol o fixed asset is carried out If events or cnanges in circumstances indicote thot the carriJing volue of onLJ fixed osset may ir Ot be recoveroble. Shoi-tfalls between the ccirrying volue of fixed osse15 and *heli- r-ecoverable amouiits ore recognised os impalrmenls. Iinpo',I"m.ent Ioeses ai"e recogoised in the Staiement of flnanclol oclivilies incorpoi ating iiicome and expenditure occounl. De.pre.c.iotion Is charged so os to ollocote. the cost of tonoible fixed ossets less their I"e.siduul volue over their eslirnoled vsef ul I,,ves. Lising the gtruight-line method. Depreciolion li Pl-ov:,ded on tha followiiig boses.. OfFice equipmeql Computer equipment 20°h or¥ a strrolg41 Ilne bosis £00/o on o .%lraight line bosis 1.7 Interest receivable Iiitei-est an funds held on deposlt is Incltsded wlien rècelvoble ond the amouiil con be meosured reliably by the corp,pany.' Ihis Is noi-ii)ally upoii notificotion of the interest pold or payable bij the Institution wlth whom tlie fknnds ore deposited 1.8 Operating leuses Rentols poid under operolliio leoses ol-e char'ged to Ihe Slalemeiit of Fltyanciol Actlvlties OFI o sti'olght-line bogis over the leo¥e lei"In. 1.9 Debtors Trode oiid other debtors ore. recognised ot the setllemeiit oiiount af Ler any trude discount offered. Prepoyment< or'e volued otr the omoult prepoid net of ony Ii'cde discounts due. Pooe 1B
Chester Stud&Mts' Unlon (A Compcsnu Llmlted by Guarantee) Notes to the Fiiionciol Stuiements F¢r the Yeor Ended 31 July 2024 Accounting pollcles (continued) 1.10 Cash at bonk und in hund Cusli al boiik ond in hand inclvdes casl) ond sliort-leriyi highl liquld 5nvestmeiits with o sho,t nioturl*y of tlii-ee Inonlhs or less from Ilie dote of ocouisilion or opeiiing of tloe deposit or similai. ocLouiIt. 1.11 Llobllltles ond provisions Liobililles are recogiilsed when there is an obligolion ot the Bolonce Sheet dote os o result of a post even1, It is probable that o tronsfer of economic benefit wlll De i-equii-ed irn settlement, ond the oniount of the settlement con be estimoted reli(Jbly Liabilities are i-ecogiised al the amount thot the company onticipales it will pay to seiile the deDt or tlie amount it hos receivecs os odvonced payments foi- the goods or sei'vices it musl pi"ovide. Pi'ovisioiib ore meosured al the best es11mote of the oinounts required to settle the obligatioii. Whei e tl)e elfecl of the Ilme value of Inoney is moteriol. Ilie pi"ovision is based on the present volue of Ihose omounts, discounted ot ilie pi-e-tax discount rote Ihot ref lects the risks specific to the Ilubili-. y. The unwinding of the discoknnl is recooiiised in the Stolement of Hnanciol Activities Q5 0 finance cost. 1.12 Flnanclol Instruments Tl)e coinpony ortly has financial Ossets and tinanciol liobll,,tles of o kind thot quolify as basic finonciol iiislrumeiits. 8aslc flnuncial inotruments oi"e Inltlolly recognised al IransoctlDn volve ond subsequeritly iNeosured at tlielr settlement volue with the exception of bonk loons whlch ore sobsequently measured at omortised cosl uslng tl)e effective intere&t method. 1.13 Pensions The compony operoles o defirned contrlljution pension sclieme or,d the pension ckiarge represents Ilie omounis payable by the conipony to the fund in respect of the yeor. Poge 19
Chestei. Students, Union (A Compony Limited by Guarantee) Notes to the Finonclol Statements For the Year Ended 31 July 2024 Ac¢¢unting policies (continued) 1.14 Fund o£countlno Generol fuiids ore ulreslricled f unds whicli ore ovoiloble fur use ot the discretion of the Trustee5 in furtheronce of the generol objective.s of tlie compoiiy and wliich liove not been designated for othe.I' pui'p05es. Resli'icted funds ol'e fur,.ds whlch ore lo be used in (Jccordonce with specific i-estrictions imposed by doiiors 01- wliich have been roised bd the conipony for porliculor purposes. The costs of i-oising and administeririg such funds ol'e charqed against the speci4lc fund. Tlje oiryi ond use of eoch reslricted fund Is set out Iii the noles to the f inonciol stotement& Criticol occounting estlmates ond oreas of judgment Estin-,otes judgmeits oi e contip,uolly evolvotpd ond al'e bosed on hislorlcol experience ond oiher fac.tors, -cÈotions ol lulure eveiits tl)a* ore believed lo be recjsonoble under the c.'rcvinstaiires. including =XP- CriticGI uccovntino estlTr.oles op,d ossuinptir)115.' Thie coinpony mokes estimates and assuniplior,s concemFiio the fJlute. The iesvlting occounling e¢tlmotÈ% ancl 0SSiJmplior15 will. by defip.i1501). seldom equal the relote.d octuol results. There ofe no eslimoles ona ossumplions -d liobilities tliol hove 0 5iynificonl rlsk of coJsiiig o molerial odjUStn)eMt to the coi ru',ng oniougls 04 ossetS 011 within the nexi finoncial yE.or. Incorne from donations and legacies Unrestricted funds 2014 Flestri¢ted funds 2024 Totol funds 2024 Grants 525.501 19,874 545.375 Unrestricted fuiid5 2023 Ae8lrlctod fdncls 2023 Totol funds 2023 Gronts 553,176 17,8BB 571.064 Page 20
Cl)ester Stvdeiis' Unlo (A Company Limlted by Guorante) Notes to the Finonciul Stotements For the Year Ended 31 July 2024 Income fi-om choritable activitles Unrestrlcted funds 2024 Total fund5 2024 Medio ond Troding Soles 17,812 17.812 Unresti"Icted fvnds 2023 lotgl lurids 2023 Ivledio ond Tradlng Soles 15,654 15,654 Investment income Unrestricted funds 2024 Totol funds 2024 Bank intere51 received 1,801 1,801 Unre51fiCted funds 2025 Totol funds 2023 Bunk interesl recelved 358 35B Poge 21
Chester Studei)ts' Unlon (A Coinpany Llmlted by Guuruntee) Notes to the Financial Sttstements For the Ye(fr Ended 31 July 2024 Analusls of expenditure by activllies Actlvltles ndertaken dlrectly 2024 Svpport Costs Total fur)d5 2024 2024 Impi'ovement of Slu(ltsnl Experlei",ce 41,144 527,>56 568,700 Activities und&rtoken directly Support costs 2023 2023 Tolol 20?3 Improvement of Stvdent E%pe.fience 45.040 519,352 564.392 Analusis of direct costs Totol funds 024 Totol 2023 Skn'mmer Boll 10,000 8.808 Electinns & Compaigiis stude.nl Advice 3.312 2,300 2.273 3.603 Student Acllvities 15.685 21.249 SERS 9,874 9,080 41,144 45,Q40 Poge 22
Chester Studeiits, Union (A Company Limited bu Guorontee) Notes to the Finonciol Stotenieiits For the Yeor Ended 31 July 2024 Analysis of expenditure by octlvitles (continued) Anolysis of support costs Totol f und£ 2024 Tolol fund 2023 Staff costs 429,093 418,620 Depreciotion 3,794 4,734 Insurunce 11.910 11,864 IT costs 6.327 4.293 Stall ti"oining Technology costs Legol & piofesslonol fees Profit oil the sale ol fbxed 05set* 12.137 360 987 17,562 33.540 159 (129) Niscelloneous expenditvre Accounloncy fees 43.514 26,260 5.100 2,600 527,556 519.552 Turnover I'he whole of the turnover is ottiibuloble to Ihe pi'incipol oclivily of the chariioble coiiipany. All turnovei- oi-ose wiihin the United Kingdoni. Net income/(expenditure) 2024 2Q23 Deprecioflon of tonoiL)le fixed ossels owned bu cliority Operolliig leose rentals 3,794 7,500 4.734 7,500 11,294 12.234 Poge 23
Chester Students, Uiiion (A Compuny Limited by Guurontee) Note5 to the Fln(tncial Statements For the Year Ended 31 July 2024 Staff costs 2024 2023 Woges opid saloi'les -£oclul secul'ily casts Coiilrfibution to de'i ined conlribiJtion pension schemes 402,796 394,605 20,756 18,025 5,539 5,990 429,095 418,620 The averoge number of persons employed by the compony durlng ihe yeai" was os follow>. 2024 No. 2023 No. Soboticol Olir.er Trustees Moiiooers 19 19 No emoloijee recpived remunerolion. amountliij to more hon £60,000 1.'i either geor The to+ol ornounl ol emp.'ouee benefits (Includlng pension contributions) receFved by key monageme.nl personr)el for. their services to tle choriloble ct)mpor,y are £72.501 (2023.. £149,578). <ey nionagement personiiel compi ise the CEO, Monogemeiit teoii cind Volunleer trustees. Ti-ustees ore not I'emL'neroted lor their wgl'k Cs Iruslees (see note 1Q below). Poje 24
Chester Students, Uniot)
(A Componu Liniited by Guorontee)
Notes to the Financiul Statements
For the Yedr Ended 31 Julu 2024
10.
Trustees, remunerotion and expènses
The iolol reniur.erotlon cost5 for rhe sabboticol orficer Iruslees omouiited lo £65,985 (2023.. £61.676). These
costs relote to rernunerotion I'eceived 05 sobbuiicol officei's, I'otlier thon 09 Irv
Cliester Students, Urilo (A Campunij Limited bu Guorontee) Notes to the Financial Statements For the Year Ended 31 Julu 2024 12. Debtors 2024 2023 Due within one yeor Trode debtors 7.710 1,365 Orlier debtoi's 1,985 8.457 Prepouments ond accrued income 81.704 39,852 91,397 49.674 13. Creditors,. Amounts f ulllng duè withln one year 2024 2023 Ti"ode creditors 717 14.661 Otliei. toxotion and sociol security 7.525 5.991 Other ci editors 7,378 6.614 Ac.cruols 12.295 2,734 27.915 30.000 Pooe 26
Chester Students, Union (A Compony Limited bu Gtstsrantee) Notes to the FinuncicFI Statements For the Yeor Ended 31 July 2024 14. Stateirent of funds Statement of funds - current year Balance ut I August 2023 Eolance ot 31 July 2024 Income Expendlture Unrestrlcted fijnds Reserves 182.597 545.114 (548,826) 178.885 Re5trlcteé tunds SuFYimer boll 10,000 (10.000) SERS 9,874 (9,874) 19,874 (19.874) Total of funds 182,597 564,988 {568.700) ?78.805 Poge 27
Chester Studentg, Unlon (A Company Limited by Gvaruntee) Notes to the Finonoal Statement5 Foi. the Year Ended 31 July 2024 14, statement of funds (continued) Stotement of funés prior year Bolonce ot 1 Augusl 2022 Bolunce ol 31 Jul¥ 20?.3 Income E%pendilv.'e Urirestricted funds Reserves 159,913 569,188 (546,504) 182.597 Restricted fvnds Summer. boll 8,808 (8.808) 19.080} SERS .oao 17.888 (17.888) Total of funds 159,913 y87.076 (564,592) 1S2.591 15. Anolusls of net asset5 between f Analysis of net assets between f unds - ¢LFrrent period Urtrestricted tvnds 2024 Totol funds 2024 Tongible fixed osse15 C.iJ,'rent assets 8.690 8,690 198,110 198,110 (27,915) Creditcr¢ due wiilii17 one y&oi' (27.915) Totol 178.885 178.885 Poge 28
Clioster Students, Union (A Company Liniited by Guayontee) Notes to the Finuncial Stutements For the Yeor Endèd 31 July 2024 15. Anoiusls of net assets between funds (continued) Analysis of net cssets between funds - prior period Unreslricled funds 2023 Totol f unds 2023 Toiigible flyed os5els Curreiil assets 10.577 10,577 2J2.020 202.020 Creditors due witliin one year (30,000) (30.000) 182.597 182597 Totol 16. Aeconriliotion of net movenient in funds to net Gosh f low from operuting uetlvlties 2024 2023 Nel incomejexpeiiditure for rhe peiiod (us per Slotenient of Finonclal Actlvltles) {3.712) 22,684 Adjustments for.. Depreciatior) charges Profit on Ihe sole of fi%ed assets 5.794 4,754 159 (129) Decreose/(Iiicreose) in debtors Decreose In credllors (41.723) (2.085) 26,570 (4.725) Nei cash provlded by/(used In) operating actlvltles <43.567) 49,134 17. Analysis of cash and cosh equivalent4 2024 2025 Cash In hond 106.713 152.346 Totol cash ond cash equlvalents 106,713 152,346 Poge 29
Chester Stvdents. Unlon (A Componu Limited by Guorcrntèè) Notes to the Financial Statements For the Yeor Ended 31 July 2024 18, Analysis of chonges in net debt At l August 2025 At 31 July 2024 Cash flows Cesh oi bonk ond in hond 152.546 {45.633) 106.713 152.346 (45,655) 106.713 19. Pension commitments The unlon operotes o defined contributlon penslon scheye for oll qtialifying employees. The ossets of the 5clieme ol'e held seporatel f rom Iliose of Ine i',7 011 tndepett,dently odmlnistered rijnd. rhD totol cost ol the Or 05 £5,539 (2023.. E5.990) repfesonts employei. conti"Ibutlons to tb,e scl)enie. At Ihe yeoi. end, on amoviil of £50 {2023". £NIl) was outqtonding. 20. OpérJtlng lease commitments Al 31 JVIJ 2024 the compuny had comml+ments to moke lulvre mlfiimum leose poiJmenls Under r)on- concelloble opeiotlno leases as ¥ollows'. 2024 2023 Not Ic,'lei- tlioii l yeor 7,500 7,500 21. Aeltsted porty transactlons The c.hJrltable compopy's governing poi.enl body Is tlie u11[ ersity of Chesier. Durliig the yeor the compcsny I'ece.ived grants totolling £545.175 (2023. £571,064) Durlng the year" the uiiioi) poid rent io the UnivergittJ ol Che51ei' of £7,500 (2023.. £7.500) As 0131 July 2024 the arriount do@ fi'on) the Unlve", sity c)1 Chester ENil <2023.. £Nil) ond the bo'50nce owed lo tlie Ui)Iversiry ol Chesrer wos £420 (2023-. £9,389). Iq aciditlon ro the obove. os ot 31 July 2024 occrued income due Ii'om the Unlverslly of Chester wa5 £65,574 (2023.. £25.064) Poge 50