REGISTERED CHARITY NUMBER: 1152400
REPORT OF THE TRUSTEES AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2021
FOR ARTS UNIVERSITY BOURNEMOUTH STUDENTS' UNION
Schofields Chartered Accountants 5th Floor Waverley House 115 - 119 Holdenhurst Road Bournemouth Dorset BH8 8DY
ARTS UNIVERSITY BOURNEMOUTH STUDENTS' UNION
CONTENTS OF THE FINANCIAL STATEMENTS For The Year Ended 31 July 2021
Page
Report of the Trustees
Independent Examiner's Report
Statement of Financial Activities
Balance Sheet
Notes to the Financial Statements
Detailed Statement of Financial Activities
1 to 5 . 6 7 8
9 to 18 19 to 20
ARTS UNIVERSITY BOURNEMOUTH STUDENTS' UNION
REPORT OF THE TRUSTEES
For The Year Ended 31 July 2021
The trustees present their report with the financial statements of the charity for the year ended 31 July 2021. The trustees have adopted the provisions of 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).
OBJECTIVES AND ACTIVITIES Objectives and aims
The Arts University Bournemouth Students’ Union's principle aims are set out in the Constitution as follows:
The Union's objects are the advancement of education of Students at Arts University Bournemouth for the public benefit by:
a) promoting the interests and welfare of Students at Arts University Bournemouth during their course of study and representing, supporting and advising Students;
b) being the recognised representative channel between Students and Arts University Bournemouth and any other external bodies; and
c) providing social, cultural, sporting and recreational activities and forums for discussion and debate for the personal development of its Students.
Significant activities
According to the Constitution, the Union may, for the betterment of the student body; carry out campaigning activities; seek to influence public opinion; and make representations to and seek to influence governmental and other bodies and institutions regarding the reform, development and implementation of appropriate policies, legislation and regulations, provided that all such activities shall be confined to the activities which an English and Welsh charity may properly undertake and provided that the Union complies with the Education Act and any guidance published by the Charity Commission.
The Union also provides extra-curricular activities for the students, such as: sports clubs and societies; volunteering opportunities; evening and daytime social events and activities; and awareness events and campaigns in the interest of the student body. The aim of these is to enrich students’ time at university and provide them with additional services to maintain and improve their health physically, emotionally and mentally whilst also encouraging their personal development.
The Union represents the student voice in matters concerning their university experience. This includes giving advice on appealing academic marks, making complaints related to their course, dealing with housing situations, improving their time at university, and lobbying the University for improvements. The Sabbatical Officers sit on many University Boards and Committees to ensure that the student voice is heard at every level.
Public benefit
In undertaking the activities of the last twelve months, the Trustees continue to pay due regard to the Charity Commission's guidance on public benefit through their oversight of the activities of the Arts University Bournemouth Students’ Union. Through adherence to the objectives and activities undertaken in the year, the Students' Union continued to fulfil its obligations on behalf of the student body.
ACHIEVEMENT AND PERFORMANCE
Charitable and fundraising activities
In 2020-21, the Students' Union continued to be impacted by the coronavirus pandemic and the majority of activities took place remotely and online, with exceptions towards the end of the academic year around Graduation events.
The Sabbatical Trustees and Union continued to focus on supporting marginalised communities at AUB, who were particularly negatively affected by the pandemic and the resulting mitigations. The Union gathered a significant amount of feedback and interviewed several students, staff, and alumni to create a report detailing experiences of racism within AUB, and recommendations for addressing the issues raised. The University response has been variable.
The Union also worked to improve student wellbeing, with increased effort to provide resources and support through the Small Things Matter campaign. The Union continued essential environmental work in collaboration with the University and begun by previous Trustee teams.
Towards the end of the academic year, the Union began to work towards returning to some in-person activity, focusing on clubs, societies, and networks to enable students to connect and reduce isolation and loneliness. The Union was also present at the Graduation ceremonies to distribute customised gift bags to congratulate graduates, in lieu of holding a Graduation party. The bags were highly appreciated by students.
All activities during the year were in keeping with the’ Union's Strategic Plan, benefitting the student body in a variety of essential ways.
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ARTS UNIVERSITY BOURNEMOUTH STUDENTS' UNION
REPORT OF THE TRUSTEES For The Year Ended 31 July 2021
FINANCIAL REVIEW
Financial position
AUBSU's gross income: £346,936 (2020 - £304,613). Block grant: £326,935 (2020- £259,033) Total Expenditure: £271,532 (2020 - £277,476) Surplus: £75,404 (2020: £27,137)
The principle source of funding for AUBSU is the block grant given by the University of £326,935 (2020: £259,033).
The next significant source of income was raised from clubs and societies totalling £3,786 (2020: £11,187)
The University provides the Students’ Union with an office, storage facilities, utilities and accounting services for no charge. As recommended by the Charities SORP, the estimated value of these services and provisions in-kind is valued at £12,750 (2020:£12,750) and has been included in the accounts. The Trustees believe that this support will continue from the University for the foreseeable future.
The major item of expenditure related to personnel of £200,131 (2020: £185,819)
Reserves policy
The Accounting and Reporting for Charities' Statement of Recommended Practice defines reserves as income which becomes available to AUBSU and is to be spent at the Trustees’ discretion in furtherance of any of the AUBSU objects, but which is not yet spent, committed or designated. This definition of reserves therefore excludes restricted and designated funds and income funds that could only be realised by disposing of fixed assets held for Union use.
At 31 July 2021, AUBSU has total unrestricted reserves of £156,892 (2020: £81,855) with restricted income funds of £3,471, apportioned as follows:
Social Sporting Activities - £3,104 (2020: £3,104)
Clubs and Societies - £367 (2020: £Nil)
The Trustee unrestricted core reserves policy is to retain three to four months’ activity, estimated at around £80,000. Whilst this current level of reserves exceeds Trustee policy, this has arisen due to the pandemic resulting in both a drop in demand for clubs and activities and significantly the cancellation of a number of key events that take place during the year. The underspend in the current year, resulting in the excess reserves, shall be utilised in the forthcoming financial periods in engaging additional staff to further the activities and services of AUBSU.
FUTURE PLANS
The Students’ Union will be focusing on the Sabbatical Officers' manifesto points throughout the year, including: helping students to get involved in activities and connect with other students after the pandemic; a continuation of work last year on decolonising the curriculum; supporting addressing issues affecting students with disabilities; reducing waste and continuing sustainability work; improving mental health support and continuing The Small Things Matter; campaigning for increased transparency within the University systems and processes; and supporting student-run creative businesses.
The pandemic continues to affect the Union's activities, although face-to-face activities have resumed, the Union are proceeding with caution and employing effective mitigation and risk management. The Union will continue abiding by the relevant government regulations in its activities and campaigns.
The Democracy Coordinator has overseen the training of Course Reps and the Executive Committee and encouraging engagement in democratic processes such as the elections. With the updated By-Laws, it will be logistically possible for the Union to hold an effective Student Council meeting.
With a full complement of staff, the Union can organise and host more activities and events; and represent and support a greater variety of students than before. The AUBSU Strategic Plan 2020-23 was launched in January 2020 and, along with the Sabbatical Officers and Trustees, will guide the Union's direction for the next couple of years.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The Arts University Bournemouth Students’ Union (AUBSU) is a charity registered with the Charities Commission since 12 June 2013 and is an unincorporated entity. It is governed by its Constitution, which outlines the ideals and aims of the Union and how these are overseen by the Board of Trustees.
The Board of Trustees is responsible for directing the strategic and financial activities of the organisation, ensuring that any actions are in line with the current Strategic Plan and fall within the definition of charitable purpose. The Board may exercise all the powers of the Union, subject to the Education Act, Constitution and By-Laws.
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ARTS UNIVERSITY BOURNEMOUTH STUDENTS' UNION REPORT OF THE TRUSTEES For The Year Ended 31 July 2021
STRUCTURE, GOVERNANCE AND MANAGEMENT Recruitment and appointment of new trustees
The Sabbatical Officer positions of Students’ Union President and Vice-President are ex-officio Trustees and are elected by the student body every year by secret ballot, to serve a one-year term. They may be re-elected for a further one-year term. The remaining trustees are either students or external members of the public. The composition of the Board is as follows:
No more than two Sabbatical Trustees
No more than four Student Trustees
No more than four External Trustees
Organisational structure
The Trustees are required to hold a minimum of three meetings per academic year at which they agree the broad strategy and areas of activity for the Union and oversee its performance and finances, The Board consider themselves to be the only key management.
The executive committee
The Executive Committee consists of students elected to represent their cohorts. Its responsibilities include oversight of the Students’ Union finances and approval of expenditure above £2,500 and below £5,000; organisation of student-led campaigns and events; representation of relevant cohorts; and development of the Union's strategic aims.
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||||||||
|---|---|---|---|---|---|---|
|The|members|of the|Committee|are|as|follows:|
|The|President|
|The|Vice-President|
|Clubs|and|Societies|Officer|
|Communications|Officers|(up|to|two)|
|Gender Equalities|Officer|
|Green|Officer|
|International|Officer|
|LGBT+|Officers|(up|to|two)|
|Mature|and|Postgraduate|Officer|
|Race|Equalities|Officer|
|Raising|and|Giving|Officer|
|Students|with|Disabilities|Officer|
|Volunteering|Officer|
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Induction and training of new trustees
All trustees are provided with a one-to-one meeting and an induction pack, which includes a copy of the Trustee Handbook and the current Strategic Plan. New Trustees are provided with support from staff and current Trustees. In particular, incoming Sabbatical Trustees are given a handover by the outgoing Sabbatical Trustees and AUBSU staff.
All Trustees are asked to fill out a Skills Matrix and Register of Interest upon their appointment, to establish the skills and abilities of the Board as a whole. This in turn facilitates the identification of relevant training, events and conferences to aid their development as members of the Board.
Students’ Union staff are always on-hand to provide relevant information and support for Trustees including understanding meeting papers and reports, and advice regarding their role and responsibilities.
Wider network
AUBSU is currently a member of the National Union of Students, a voluntary membership organisation that confederates 600 Students’ Unions nationally.
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ARTS UNIVERSITY BOURNEMOUTH STUDENTS' UNION
REPORT OF THE TRUSTEES
For The Year Ended 31 July 2021
STRUCTURE, GOVERNANCE AND MANAGEMENT Risk management
The Students’ Union utilises University staff as advisors in order to ensure that operations remain within the policies and procedures of the University.
For all relevant activities and events held by AUBSU, risk assessments are carried out and safety measures put in place to reduce any risk of damage to property, reputation or stability of the organisation.
Financial risks are reduced by having effective controls in place. This includes a limit in expenditure approval as follows:
-
Amounts up to £2,500 shall be approved by two signatories of the Union, where at least one signature must be by a Sabbatical Officer.
-
Amounts above £2,500 and below £5,000 shall be approved by the Executive Committee, reflected in the minutes of the meeting and signed off by Union signatories.
-
Amounts above £5,000 shall be approved by the Board of Trustees, reflected in the minutes of the meeting and signed off by Union signatories.
The Union receives a monthly financial report in order to continuously monitor income and expenditure, An overview of this report is included in the papers for meetings of the Board of Trustees.
The University has committed to being a cash-free campus and so all Union cash transactions have been discontinued, including petty cash. If any cash payments do happen, they are taken by the Union and delivered to, checked, and paid in by the Union's financial contact.
REFERENCE AND ADMINISTRATIVE DETAILS
Registered Charity number 1152400
Principal address Arts University Bourmemouth Fern Barrow
Wallisdown Poole Dorset BH12 5HH
Trustees
Danny O'Sullivan Adrian Cormack
Stephanie Barton Stella Kajombo Trustee (appointed 4.5.2021) Louise Hall (resigned 9.7.2021) Megan Hewison (resigned 22.1.2021) Emma Joyce Kamilla Dowgiert (resigned 9.7.2021) Judith Mary Allen (appointed 28.6.2021) Eleanor Anne Grant (appointed 28.6.2021)
Independent Examiner
Schofields Chartered Accountants 5th Floor
Waverley House 115 - 119 Holdenhurst Road Bournemouth Dorset BH8 8DY
Bankers
Lloyds Banking Group plc 45/47 Old Christchurch Road Bournemouth BH! 1ED
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ARTS UNIVERSITY BOURNEMOUTH STUDENTS' UNION
REPORT OF THE TRUSTEES For The Year Ended 31 July 2021
REFERENCE AND ADMINISTRATIVE DETAILS
Advisers
During the reporting year ended 31 July 2021, the following were advisors to AUBSU:
Emma Hunt - University Advisor (from Ist January 2018) Elizabeth HulbertFinancial Advisor (from 9th July 2019)
BACKGROUND INFORMATION
Organisation also known as: AUBSU Approved by order of the board of trustees on BoM. th FAGZope L- and signed on its behalf by:
Ele Grane Ellie Grant (May 30, 2022 10:29 GMT+1)
Eleanor Anne Grant - Trustee
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INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF ARTS UNIVERSITY BOURNEMOUTH STUDENTS’ UNION
Independent examiner's report to the trustees of Arts University Bournemouth Students’ Union
I report to the charity trustees on my examination of the accounts of Arts University Bournemouth Students’ Union (the Trust) for the year ended 31 July 2021.
Responsibilities and basis of report
As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’).
{ report in respect of my examination of the Trust's accounts carried out under section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
Independent examiner's statement
Since your charity's gross income exceeded £250,000 your examiner must be a member ofa listed body. I can confirm that | am qualified to undertake the examination because I am a registered member of ICAEW which is one of the listed bodies.
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
-
accounting records were not kept in respect of the Trust as required by section 130 of the Act; or 2. the accounts do not accord with those records; or
-
the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 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.
I have no concerns and have come across 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.
4) J Schofield ICAEW Schofields Chartered Accountants 5th Floor
Waverley House 115 - 119 Holdenhurst Road
Bournemouth
Dorset BH8 8DY
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Date: BSED MEME
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ARTS UNIVERSITY BOURNEMOUTH STUDENTS' UNION
STATEMENT OF FINANCIAL ACTIVITIES For The Year Ended 31 July 2021
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|||||||||
|---|---|---|---|---|---|---|---|
|2021|2020|
|Unrestricted|Restricted|Total|Total|
|Notes|fund£|funds£|funds£|funds£|
|INCOME|AND|ENDOWMENTS|FROM|
|Donations|and|legacies|2|339,685|-|339,685|271,783|
|Charitable|activities|4|
|Student|societies|and|clubs|-|3,786|3,786|11,187|
|Give|it|a go|-|930|930|10,980|
|Student|led|activities|1,192|-|1,192|123|
|NUS|extra|429|-|429|1,018|
|Student|experience|80|-|80|-|
|Campaigns|-|-|-|944|
|Other|trading|activities|3|834|-|834|8,578|
|Total|342,220|4,716|346,936|304,613|
|EXPENDITURE|ON|
|Raising|funds|11,046|-|11,046|19,341|
|Charitable|activities|5|
|Student|societies|and|clubs|-|32,052|32,052|37,308|
|Give|it|a go|-|25,289|25,289|29,056|
|Student|led|activities|46,783|-|46,783|45,803|
|NUS|extra|10,778|-|10,778|6,962|
|Democracy|and|representation|51,136|-|51,136|$1,641|
|Student|experience|48,525|-|48,525|43,577|
|Campaigns|45,923|-|45,923|43,788|
|Total|214,191|57,341|271,532|277,476|
|NET|INCOME/(EXPENDITURE)|128,029|(52,625)|75,404|27,137|
|Transfers|between|funds|16|(52,992)|52,992|-|-|
|Net|movement|in|funds|75,037|367|75,404|27,137|
|RECONCILIATION|OF|FUNDS|
|Total|funds|brought|forward|81,855|3,104|84,959|57,822|
|TOTAL FUNDS|CARRIED|FORWARD|156,892|3,471|160,363|84,959|
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The notes form part of these financial statements
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ARTS UNIVERSITY BOURNEMOUTH STUDENTS' UNION
BALANCE SHEET
31 July 2021
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|||||||||||
|---|---|---|---|---|---|---|---|---|---|
|2021|2020|
|Unrestricted|Restricted|Total|Total|
|Notes|fund£|funds£|funds£|funds£|
|FIXED|ASSETS|
|Tangible|assets|12|7,146|-|7,146|3,059|
|CURRENT|ASSETS|
|Stocks|13|1,058|-|1,058|1,402|
|Debtors|14|42,947|1,085|44,032|41,796|
|Cash|at|bank|and|in|hand|113,236|3,104|116,340|43,103|
|157,241|4,189|161,430|86,301|
|CREDITORS|
|Amounts|falling due|within|one year|15|(7,495)|(718)|(8,213)|(4,401)|
|NET CURRENT ASSETS|149,746|3,471|153,217|81,900|
|TOTAL|ASSETS|LESS|CURRENT|LIABILITIES|156,892|3,471|160,363|84,959|
|NET|ASSETS|156,892|3,471|160,363|84,959|
|FUNDS|16|
|Unrestricted|funds|156,892|81,855|
|Restricted|funds|3,471|3,104|
|TOTAL FUNDS|160,363|84,959|
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The financial, statements were approved by the Board of Trustees and authorised for issue; On 7cSO May Zoiceeceeceeeeeee and were signed on its; behalf by:
Elie Grant
Elie Grant (May 30, 2022 19:29 GMT +1)
Eleanor Anne Grant - Trustee
Judith € (May 30, 2022 11:22 GMT+4}
Judith Mary Allen - Trustee
The notes form part of these financial statements
Page 8
ARTS UNIVERSITY BOURNEMOUTH STUDENTS' UNION
NOTES TO THE FINANCIAL STATEMENTS
For The Year Ended 31 July 2021
- ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charity, which is a public benefit entity under FRS 102, 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), Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention.
The charity is registered in England and Wales and is unincorporated. The address of the principle office is Arts University Bournemouth, Wallisdown, Bournemouth, Dorset, BH12 SHH.
Critical accounting judgements and key sources of estimation uncertainty
In the application of the accounting policies, the Trustees are required to make judgements, estimates and assumptions about the carrying value of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Donated services or facilities are recognised when the Union has control over the item, any conditions associated with the donated item have been met, the receipt of economic benefit from any use of the Union of the item is probable and that economic benefit can be measured reliably.
On receipt, donated professional services and donated facilities are recognised on the basis of the value to the Union which is the amount that the Union would have paid on the open market to obtain the services or facilities; a corresponding amount is then recognised in expenditure in the period of receipt.
The Union acts as a banker for its sports clubs and societies, including the Raise and Give (RAG) society. Whilst those student groups activities are operated with a high degree of autonomy, ultimately the Trustees have control over those activities. Therefore, the contributions from the sports and society members are recongised as restricted income in the Statement of Financial Activities on a receivable basis. Funds that are raised for charity by student groups that are deposited with the Union are not recognised as income, as the Union is acting only as an agent; such funds are held within other creditors until paid over to the recipient charities.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, 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 accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings ~ 15% on reducing balance Computer equipment - 25% on cost
All fixed assets are initially measured at cost.
Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
Taxation
The charity is exempt from tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
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ARTS UNIVERSITY BOURNEMOUTH STUDENTS' UNION NOTES TO THE FINANCIAL STATEMENTS - continued For The Year Ended 31 July 2021
-
ACCOUNTING POLICIES - continued
Debtors and creditors receivable/payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price.
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.
Hire purchase and leasing commitments
Rentals paid under operating leases are charged to the Statement of Financial Activities on a straight line basis over the period of the lease.
Pension costs and other post-retirement benefits
The charity operates a defined contribution pension scheme. Contributions payable to the charity's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.
Going concern
The Union has cash resources and no requirement for external funding. The Trustees have a reasonable expectation that the Union has adequate resources to continue in operational existence for the foreseeable future. It has been concluded that there are no material uncertainties and that it is appropriate for the financial statements to be prepared on a going concern basis.
Financial instruments
All financial assets and liabilities are recognised as basic financial instruments which are initially recognised at transaction value and subsequently measured at their settlement value
DONATIONS AND LEGACIES
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||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|2021|2020|
|£|£|
|Donated|services|and|facilities|12,750|12,750|
|AUB|Block|grant|326,935|259,033|
|339,685|271,783|
|All|income|from|donations|and|legacies|is|unrestricted|in|both|the|current|and|previous|year.|
|OTHER TRADING|ACTIVITIES|
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All income from donations and legacies is unrestricted in both the current and previous year.
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|||||
|---|---|---|---|
|2021|2020|
|£|£|
|Fundraising|events|292|8,100|
|Merchandise|sales|542|478|
|834|8,578|
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All income from other trading activities is unrestricted in both the current and previous year.
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ARTS UNIVERSITY BOURNEMOUTH STUDENTS' UNION
NOTES TO THE FINANCIAL STATEMENTS- continued For The Year Ended 31 July 2021
- INCOME FROM CHARITABLE ACTIVITIES
| Student societies |
Give | ita | Student led |
||
|---|---|---|---|---|---|
| and clubs | go | activities | |||
| £ | £ | £ | |||
| NUS extra cards | - | - | - | ||
| Grants Activities Membership |
- - 3,083 |
- - 930 |
- - - |
||
| Equipment and resources | 703 | - | 1,185 | ||
| Competitions and other income | - | - | - | ||
| Advertising | - | - | - | ||
| Events | - | - | 7 | ||
| 3,786 | 930 | 1,192 | |||
| 2021 | 2020 | ||||
| NUS extra | Student experience |
Total activities |
Total activities |
||
| £ | £ | £ | £ | ||
| NUS extra cards | 429 | - | 429 | 1,018 | |
| Grants | - | - | - | 9,791 | |
| Activities | - | - | - | 1,039 | |
| Membership | - | - | 4,013 | 9,434 | |
| Equipment and resources | - | - | 1,888 | 1,754 | |
| Competitions and other income | - | 80 | 80 | 828 | |
| Advertising Events |
- - |
- - |
- 7 |
32 356 |
|
| 429 | 80 | 6,417 | 24,252 |
Total income from charitable activities amounted to £6,417 (2020: £24,252) of which £1,701 (2020: £2,085) was unrestricted and £4,716 (2020: £22,167) was restricted revenue funds.
Grants received, included in the above, are as follows:
5.
| Grants received, included in the above, are as follows: | |||
|---|---|---|---|
| 2021 | 2020 | ||
| £ | £ | ||
| ESC Lottery Fund | - | 9,791 | |
| CHARITABLE ACTIVITIES COSTS | |||
| Direct | Support | ||
| Costs (see | costs (see | ||
| note 6) | note 7) | Totals | |
| £ | £ | £ | |
| Student societies and clubs | 19,418 | 12,634 | 32,052 |
| Give it ago | 13,796 | 11,493 | 25,289 |
| Student led activities | 28,397 | 18,386 | 46,783 |
| NUS extra | 9,628 | 1,150 | 10,778 |
| Democracy and representation | 25,857 | 25,279 | 51,136 |
| Student experience | 25,544 | 22,981 | 48,525 |
| Campaigns | 22,942 | 22,981 | 45,923 |
| 145,582 | 114,904 | 260,486 |
Total costs of charitable activities were £260,486 (2020: £258,135) of which £203,145 (2020: £191,771) was unrestricted and £57,341 (2020: £66,364) was restricted income funds.
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ARTS UNIVERSITY BOURNEMOUTH STUDENTS' UNION
NOTES TO THE FINANCIAL STATEMENTS - continued For The Year Ended 31 July 2021
6. DIRECT COSTS OF CHARITABLE ACTIVITIES
| 2021 | 2020 | |||
|---|---|---|---|---|
| £ | £ | |||
| Trustees’ remuneration etc | 31,517 | 31,405 | ||
| Staff costs | 83,270 | 75,961 | ||
| Equipment Membership |
7,936 1,222 |
10,942 3,994 |
||
| Activities and events | 4,573 | 1,370 | ||
| Competition Entry | - | 2,885 | ||
| Venue hire | 1,144 | 4,530 | ||
| Coaching and instructors | 3,655 | 5,197 | ||
| Miscellaneous | 614 | 1,041 | ||
| Advertising | 290 | 1,501 | ||
| Printing | - | 2,252 | ||
| Travel and subsistence | 19 | 979 | ||
| Student Union President costs | 2,276 | 172 | ||
| Student Union Vice President costs | 487 | 116 | ||
| Race equalities costs | - | 100 | ||
| Students with disabilities costs | - | 65 | ||
| Hospitality | 60 | 61 | ||
| Conferences and events | 210 | 40 | ||
| Training | 137 | 393 | ||
| Webhosting | 59 | 202 | ||
| Affiliation fees | 8,113 | 4,500 | ||
| 145,582 | 147,706 | |||
| SUPPORT COSTS | ||||
| Training | ||||
| Information | and | |||
| Management | Finance | technology | networking | |
| £ | £ | £ | £ | |
| Student societies and clubs | 11,014 | 35 | 944 | 170 |
| Give it a go | 10,016 | 31 | 859 | 156 |
| Student led activities | 16,023 | 50 | 1,375 | 249 |
| NUS extra | 1,002 | 3 | 86 | 16 |
| Democracy and representation | 22,030 | 68 | 1,891 | 343 |
| Student experience | 20,027 | 62 | 1,719 | 312 |
| Campaigns | 20,027 | 62 | 1,719 | 312 |
| 100,139 | 311 | 8,593 | 1,558 | |
| Governance | ||||
| Resources | Other | costs | Totals | |
| £ | £ | £ | £ | |
| Student societies and clubs | 29 | 5 | 437 | 12,634 |
| Give it ago | 28 | 5 | 398 | 11,493 |
| Student led activities | 46 | 6 | 637 | 18,386 |
| NUS extra | 3 | - | 40 | 1,150 |
| Democracy and representation | 63 | 9 | 875 | 25,279 |
| Student experience | 57 | 8 | 796 | 22,981 |
| Campaigns | 57 | 8 | 796 | 22,981 |
| 283 | 41 | 3,979 | 114,904 |
7, SUPPORT COSTS
Page 12
continued...
ARTS UNIVERSITY BOURNEMOUTH STUDENTS' UNION
NOTES TO THE FINANCIAL STATEMENTS- continued For The Year Ended 31 July 2021
- SUPPORT COSTS- continued Activity Basis of allocation Management Based on time spent Finance Based on time spent Information technology Based on time spent Training and networking Based on time spent Resources Based on time spent Other Based on time spent Governance costs Based on time spent
Support costs, included in the above, are as follows:
| Student | Student | |||||
|---|---|---|---|---|---|---|
| societies | Give | it a | led | |||
| and clubs | go | activities | NUS extra | |||
| £ | £ | £ | £ | |||
| Trustees' remuneration etc | 1,485 | 1,352 | 2,161 | 135 | ||
| Wages | 7,903 | 7,184 | 11,494 | 718 | ||
| Donated rent and services | 1,402 | 1,275 | 2,040 | 128 | ||
| Advertising | - | - | - | - | ||
| Licences | 27 | 26 | 41 | 3 | ||
| Trustee and committee meetings | - | - | - | - | ||
| Depreciation oftangible and | ||||||
| heritage assets | 197 | 179 | 287 | 18 | ||
| Bank charges | 35 | 31 | 50 | 3 | ||
| Website costs | 944 | 859 | 1,375 | 86 | ||
| Training and conferences | 170 | 156 | 249 | 16 | ||
| Office equipment | 8 | 9 | 14 | I | ||
| Postage and stationery | 21 | 19 | 32 | 2 | ||
| Sundries | 5 | 5 | 6 | - | ||
| Independent examiners fees | 435 | 396 | 634 | 40 | ||
| Predecessor non audit fees | - | - | - | - | ||
| Trustee and committee meetings | 2 | 2 | 3 | - | ||
| ‘ | 12,634 | 11,493 | 18,386 | 1,150 | ||
| 2021 | 2020 | |||||
| Democracy | ||||||
| and representation |
Student experience |
Campaigns | Total activities |
Total activities |
||
| £ | £ | £ | £ | £ | ||
| Trustees’ remuneration etc | 2,972 | 2,701 | 2,701 | 13,507 | 13,460 | |
| Wages | 15,804 | 14,367 | 14,367 | 71,837 | 64,993 | |
| Donated rent and services | 2,805 | 2,550 | 2,550 | 12,750 | 12,750 | |
| Advertising | - | - | - | - | 791 | |
| Licences | 56 | 51 | 51 | 255 | 1,055 | |
| Trustee and committee meetings | - | - | - | - | 326 | |
| Depreciation oftangible and | ||||||
| heritage assets | 393 | 358 | 358 | 1,790 | 1,985 | |
| Bank charges | 68 | 62 | 62 | 311 | 413 | |
| Website costs | 1,891 | 1,719 | 1,719 | 8,593 | 8,421 | |
| Training and conferences | 343 | 312 | 312 | 1,558 | 357 | |
| Office equipment | 19 | 17 | 17 | 85 | 732 | |
| Postage and stationery | 44 | 40 | 40 | 198 | 598 | |
| Sundries | 9 | 8 | 8 | 41 | 118 | |
| Independent examiners fees | 871 | 792 | 792 | 3,960 | 4,140 | |
| Predecessor non audit fees | - | - | - | - | 144 | |
| Trustee and committee meetings | 4 | 4 | 4 | 19 | 146 | |
| 25,279 | 22,981 | 22,981 | 114,904 | 110,429 |
Page 13
continued...
ARTS UNIVERSITY BOURNEMOUTH STUDENTS' UNION
NOTES TO THE FINANCIAL STATEMENTS- continued For The Year Ended 31 July 2021
-
TRUSTEES' REMUNERATION AND BENEFITS
| 2021 | 2020 | ||||||||
|---|---|---|---|---|---|---|---|---|---|
| £ | £ | ||||||||
| Trustees’ salaries | 44,106 | 43,949 | |||||||
| Trustees’ pension contributions to money purchase schemes | 918 | 916 | |||||||
| 45,024 | 44,865 | ||||||||
| During the year the charity paid the following trustees’ remuneration: | |||||||||
| Gross Pay |
Pension Contributions |
Gross Pay |
Pension Contributions |
||||||
| 2021 | 2021 | 2020 | 2020 | ||||||
| £ | £ | £ | £ | ||||||
| Jordan Verdes | President Academic Year 2019/20 | - | - | 19,841 | 409 | ||||
| StellaKajombo | Vice President Academic Year 2019/20 | - | - | 20,242 | 421 | ||||
| LouiseHall | PresidentAcademic Year 2020/21 | 20,035 | 414 | 1,933 | 43 | ||||
| KamilaDowgiert | Vice President Academic Year 2020/21 | 20,035 | 414 | 1,933 | 43 | ||||
| Ellie Grant | President Academic Year 2021/22 | 2,018 | 45 | - | - | ||||
| Judith Allen | Vice PresidentAcademicYear2021/22 | 2,018 | _45 | - | - | ||||
| 44,106 | 918 | 43,949 | 916 | ||||||
| The President and Vice President, as elected during the year, were the only Trustees to receive any | remuneration | and this was for their | |||||||
| representation, campaigning support, managerial and operational work and distinct from their | Trustees | responsibilities and as authorised | |||||||
| theAUBSU governing document. | |||||||||
| No other Trustees received remuneration for their services. The | Board of Trustees | consider themselves to be | the Key Management | ||||||
| Personnel. The remuneration ofKeyManagement Personnel totalled | £45,024 | (2020: £44,865). | |||||||
| Trustees’ expenses | |||||||||
| The reimbursement ofTrustees expenses was as follows: | |||||||||
| 2021 | 2020 | 2021 | 2020 | ||||||
| No. | No. | £ | £ | ||||||
| Equipment | - | I | - | 27 | |||||
| Events | 2 | - | 135 | - | |||||
| 2 | I | 135 | 27 | ||||||
| STAFF COSTS | |||||||||
| 2021 | 2020 | ||||||||
| £ | £ | ||||||||
| Wages and salaries | 199,213 | 184,903 | |||||||
| Other pension costs | 918 | 916 | |||||||
| 200,131 | 185,819 |
The President and Vice President, as elected during the year, were the only Trustees to receive any remuneration and this was for their representation, campaigning support, managerial and operational work and distinct from their Trustees responsibilities and as authorised by the AUBSU governing document.
No other Trustees received remuneration for their services. The Board of Trustees consider themselves to be the Key Management Personnel. The remuneration of Key Management Personnel totalled £45,024 (2020: £44,865).
The reimbursement of Trustees expenses was as follows:
Included above are recharged costs for salaries, employers national insurance and pension costs of £155,107 (2020: £140,955) for staff who are employed by Arts University Bournemouth (AUB) but utilised by AUBSU for events, sports and office assistance. The average number of staff employed through AUB but used by AUBSU is 8 (2020: 7).
The average monthly number of employees during the year was as follows:
----- Start of picture text -----
2021 2020
Trustees 2 2
----- End of picture text -----
No employees received emoluments in excess of £60,000.
Page 14
continued...
ARTS UNIVERSITY BOURNEMOUTH STUDENTS' UNION
NOTES TO THE FINANCIAL STATEMENTS- continued For The Year Ended 31 July 2021
- COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| Unrestricted | Restricted | Total | ||
|---|---|---|---|---|
| fund | funds | funds | ||
| £ | £ | £ | ||
| INCOME AND ENDOWMENTS FROM | ||||
| Donations and legacies | 271,783 | - | 271,783 | |
| Charitable activities | ||||
| Student societies and clubs | - | 11,187 | 11,187 | |
| Give it a go | - | 10,980 | 10,980 | |
| Student led activities | 123 | - | 123 | |
| NUS extra | 1,018 | - | 1,018 | |
| Campaigns | 944 | - | 944 | |
| Other trading activities | 8,578 | - | 8,578 | |
| Total | 282,446 | 22,167 | 304,613 | |
| EXPENDITURE ON | ||||
| Raising funds | 19,341 | - | 19,341 | |
| Charitable activities | ||||
| Student societies and clubs | - | 37,308 | 37,308 | |
| Give it ago | - | 29,056 | 29,056 | |
| Student led activities | 45,803 | - | 45,803 | |
| NUS extra | 6,962 | - | 6,962 | |
| Democracy and representation | 51,641 | - | 51,641 | |
| Student experience | 43,577 | - | 43,577 | |
| Campaigns | 43,788 | - | 43,788 | |
| Total | 211,112 | 66,364 | 277,476 | |
| NETINCOME/(EXPENDITURE) | 71,334 | (44,197) | 27,137 | |
| Transfers between funds | (47,301) | 47,301 | - | |
| Net movement in funds | 24,033 | 3,104 | 27,137 | |
| RECONCILIATION OF FUNDS | ||||
| Total funds brought forward | 57,822 | - | 57,822 | |
| TOTAL FUNDS CARRIED FORWARD | 81,855 | 3,104 | 84,959 | |
| 11. | INDEPENDENT EXAMINERS FEES | |||
| 2021 | 2020 | |||
| £ | £ | |||
| Independent Examiners fees for the examination ofthe financial statements | 3,960 | 3,720 | ||
| Independent Examiners fees - Other financial services | - | 420 | ||
| Predecessor Auditor fees - Taxation services | - | 144 | ||
| 3,960 | 4,284 |
Page 15
continued...
ARTS UNIVERSITY BOURNEMOUTH STUDENTS' UNION
NOTES TO THE FINANCIAL STATEMENTS - continued For The Year Ended 31 July 2021
12. TANGIBLE FIXED ASSETS
| TANGIBLE FIXED ASSETSASSETS | |||
|---|---|---|---|
| Fixtures | |||
| and | Computer | ||
| fittings | equipment | Totals | |
| £ | £ | £ | |
| COST | |||
| At 1 August2020 | 4,945 | 12,164 | 17,109 |
| Additions | : | 5,876 | 5,876 |
| At 31 July 2021 | 4,945 | 18,040 | 22,985 |
| DEPRECIATION | |||
| At 1 August2020 | 2,507 | 11,543 | 14,050 |
| Charge for year | 365 | 1,424 | 1,789 |
| At 31 July 2021 | 2,872 | 12,967 | 15,839 |
| NET BOOKVALUE | |||
| At31 July 2021 | 2,073 | 5,073 | 7,146 |
| At 31 July 2020 | 2,438 | 621 | 3,059 |
| STOCKS | |||
| 2021 | 2020 | ||
| £ | £ | ||
| Merchandise for resale | 1,058 | 1,402 | |
| DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | |||
| 2021 | 2020 | ||
| £ | £ | ||
| The Arts University Bournemouth | 39,315 | 40,322 | |
| Other debtors | 1,206 | 1,074 | |
| Prepayments and accrued income | 3,51 | 400 | |
| 44.032 | 41,796 | ||
| CREDITORS:AMOUNTS FALLINGDUEWITHINONE YEAR | |||
| 2021 | 2020 | ||
| £ | £ | ||
| Other creditors | 233 | 254 | |
| Accruals and deferred income | 7,980 | 4,147 | |
| 8,213 | 4,401 | ||
| Deferred income comprises monies received in advance for events to be held inthe next financial year as follows: | |||
| £ | |||
| Balance at | August2020 | ||
| Events held in the year | - | ||
| Amounts deferred in year | 408 | ||
| Balanceat31July2021 | 408 |
15. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Page 16
continued...
ARTS UNIVERSITY BOURNEMOUTH STUDENTS' UNION
NOTES TO THE FINANCIAL STATEMENTS - continued For The Year Ended 31 July 2021
----- Start of picture text -----
||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
|16.|MOVEMENT|IN|FUNDS|
|Net|Transfers|
|movement|between|At|
|At|1.8.20|in|funds|funds|31.7.21|
|£|£|£|£|
|Unrestricted|funds|
|General|fund|81,855|128,029|(52,992)|156,892|
|Restricted|funds|
|Social|Sporting|Activities|3,104|(24,359)|24,359|3,104|
|Clubs|and|Societies|-|(28,266)|28,633|367|
|3,104|(52,625)|52,992|3,471|
|TOTAL|FUNDS|84,959|75,404|-|160,363|
|Net|movement|in|funds,|included|in|the|above|are|as|follows:|
|Incoming|Resources|Movement|
|resources|expended|in|funds|
|£|£|£|
|Unrestricted|funds|
|General|fund|342,220|(214,191)|128,029|
|Restricted|funds|
|Soctal|Sporting|Activities|930|(25,289)|(24,359)|
|Clubs|and|Societies|3,786|(32,052)|(28,266)|
|4,716|(57,341)|(52,625)|
|TOTAL FUNDS|346,936|(271,532)|75,404|
|Comparatives|for|movement|in|funds|
|Net|Transfers|
|movement|between|At|
|At|1.8.19|in|funds|funds|31.7.20|
|£|£|£|£|
|Unrestricted|funds|
|General|fund|57,822|71,334|(47,301)|81,855|
|Restricted|funds|
|Social|Sporting|Activities|-|(18,076)|21,180|3,104|
|Clubs|and|Societies|-|(26,121)|26,121|-|
|—|44,197)|47,301|_|[3,104]|
|TOTAL FUNDS|57,822|27,137|-|84,959|
----- End of picture text -----
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continued...
ARTS UNIVERSITY BOURNEMOUTH STUDENTS' UNION
NOTES TO THE FINANCIAL STATEMENTS- continued
For The Year Ended 31 July 2021
- MOVEMENT IN FUNDS- continued
Comparative net movement in funds, included in the above are as follows:
----- Start of picture text -----
|||||||
|---|---|---|---|---|---|
|Incoming|Resources|Movement|
|resources|expended|in|funds|
|£|£|£|
|Unrestricted|funds|
|General|fund|282,446|(211,112)|71,334|
|Restricted|funds|
|Social|Sporting|Activities|10,980|(29,056)|(18,076)|
|Clubs|and|Societies|11,187|(37,308)|(26,121)|
|22,167|(66,364)|(44,197)|
|TOTAL FUNDS|304,613|(277,476)|27,137|
----- End of picture text -----
Restricted Funds represent:
Give it a go -A programme funded by the National Lottery through the English Sports Council with the aim of increasing participation in sport to those who do not regularly participate in sport, through free or subsidised sessions.
Clubs and societies -Represents student group balances held by individual societies are spent at their discretion subject to the Union's rules.
Transfers between funds
Transfers from unrestricted funds to the Social Sporting Activities and Clubs and Societies restricted funds were made during the financial year to cover the deficits arising on the respective activities.
RELATED PARTY DISCLOSURES
AUBSU is in receipt ofa block grant from the Arts University Bournemouth (AUB) of £326,935 (2020 - £259,033). Of the grant £181,149 (2020 - £127,150) was physically received with the residual £145,786 (2020: £131,883) retained to cover recharged costs for salaries, employers national insurance and pension costs where the staff are employed though AUB but used by AUBSU for various events, sports and assistance.
AUBSU occupies the Arts University Bournemouth building on a rent free basis under an informal arrangement. The Trustees have valued the donated rent and accounting services with reference to market rents and costs at £12,750 (2020: £12,750).
At 31 July 2021 the Arts University Bournemouth owed the charity £39,315 (2020 - £40,322). The debt is unsecured, interest free and repayable on demand.
CONTROLLING PARTY
The Union is controlled by the Executive Committee which is subject to democratic election by the voting membership of the Union. The ultimate control of the Union is vested under the constitution in the membership in General meeting. There is no single controlling party.
Page 18
ARTS UNIVERSITY BOURNEMOUTH STUDENTS' UNION
DETAILED STATEMENT OF FINANCIAL ACTIVITIES For The Year Ended 31 July 2021
| DETAILED STATEMENT OF FINANCIAL ACTIVITIES For The YearThe YearYear Ended 31 July 2021 |
|||
|---|---|---|---|
| 2021 | 2020 | ||
| £ | £ | ||
| INCOME ANDENDOWMENTS | |||
| Donations and legacies | |||
| Donated services and facilities | 12,750 | 12,750 | |
| AUB Block grant | 326,935 | 259,033 | |
| 339,685 | 271,783 | ||
| Other trading activities | |||
| Fundraising events | 292 | 8,100 | |
| Merchandise sales | 542 | 478 | |
| 834 | 8,578 | ||
| Charitable activities | |||
| NUS extra cards | 429 | 1,018 | |
| Grants Activities |
- - |
9,791 1,039 |
|
| Membership | 4,013 | 9,434 | |
| Equipment and resources | 1,888 | 1,754 | |
| Competitions and other income | 80 | 828 | |
| Advertising Events |
- 7 |
32 356 |
|
| 6,417 | 24,252 | ||
| Total incoming resources | 346,936 | 304,613 | |
| EXPENDITURE | |||
| Raising donations and legacies | |||
| Merchandising costs | 580 | 1,414 | |
| Fundraising events | 10,466 | 17,927 | |
| 11,046 | 19,341 | ||
| Charitable activities | |||
| Trustees' salaries | 31,517 | 31,405 | |
| Wages Equipment Membership |
83,270 7,936 1,222 |
75,961 10,942 3,994 |
|
| Activities and events | 4,573 | 1,370 | |
| Competition Entry | - | 2,885 | |
| Venue hire | 1,144 | 4,530 | |
| Coaching and instructors | 3,655 | 5,197 | |
| Miscellaneous | . | 614 | 1,041 |
| Advertising Printing |
290 - |
1,501 2,252 |
|
| Travel and subsistence | 19 | 979 | |
| Student Union President costs | 2,276 | 172 | |
| Student Union Vice President costs | 487 | 116 | |
| Race equalities costs | - | 100 | |
| Students with disabilities costs | - | 65 | |
| Hospitality | 60 | 61 | |
| Conferences and events | 210 | 40 | |
| Training | 137 | 393 | |
| Carriedforward | 137,410 | 143,004 |
This page does not form part of the statutory financial statements
Page 19
ARTS UNIVERSITY BOURNEMOUTH STUDENTS' UNION
DETAILED STATEMENT OF FINANCIAL ACTIVITIES For The Year Ended 31 July 2021
| For TheThe Year Ended 31 July 2021 | ||
|---|---|---|
| 2021 | 2020 | |
| £ | £ | |
| Charitable activities | ||
| Brought forward | 137,410 | 143,004 |
| Webhosting | 59 | 202 |
| Affiliation fees | 8,113 | 4,500 |
| 145,582 | 147,706 | |
| Support costs | ||
| Management | ||
| Trustees’ salaries | 12,589 | 12,544 |
| Trustees’ pension contributions | 918 | 916 |
| Wages | 71,837 | 64,993 |
| Donated rent and services | 12,750 | 12,750 |
| Advertising | - | 791 |
| Licences | 255 | 1,055 |
| Trustee and committee meetings | - | 326 |
| Fixtures and fittings | 366 | 430 |
| Computer equipment | 1,424 | 1,555 |
| 100,139 | 95,360 | |
| Finance | ||
| Bank charges | 311 | 413 |
| Information technology | ||
| Website costs | 8,593 | 8,42] |
| Training and networking | ||
| Training and conferences | 1,558 | 357 |
| Resources | ||
| Office equipment | 85 | 732 |
| Postage and stationery | 198 | 598 |
| 283 | 1,330 | |
| Other | ||
| Sundries | 4] | 118 |
| Governance costs | ||
| Independent examiners fees | 3,960 | 4,140 |
| Predecessor non audit fees | - | 144 |
| Trustee and committee meetings | 19 | 146 |
| 3,979 | 4,430 | |
| Total resources expended | 271,532 | 277,476 |
| Netincome | 75,404 | 27,137 |
This page does not form part of the statutory financial statements
Page 20