REGISTERED CHARITY NUMBER: 1152400
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REPORT OF THE TRUSTEES AND
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2023
ARTS UNIVERSITY BOURNEMOUTH STUDENTS' UNION
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Schofields Chartered Accountants 5th Floor Waverley House 115 - 119 Holdenhurst Road Bournemouth Dorset BH8 8DY
' : . ARTS UNIVERSITY BOURNEMOUTH STUDENTS' : UNION
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- CONTENTS OF THE FINANCIAL STATEMENTS For The Year Ended 31 July 2023
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|Report|of the|Trustees|1|to|6|
|Independent|Examiner's|Report|7|
|Statement of|Financial Activities|8|
|Balance|Sheet|9|
|Notes|to|the|Financial|Statements|10|to|19|
|Detailed Statement of|Financial Activities|20|to|21|
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: : ARTS UNIVERSITY BOURNEMOUTH STUDENTS! 5 UNION : REPORT OF THE TRUSTEES Fi For The Year Ended 31 July 2023
: The trustees present their report with with the financial statements of the the charity for the the year ended ended 31 July 2023. 2023. The trustees have 5 the provisions of Accounting and Reporting by Charities: Statement of Recommended Recommended Practice applicable to charities preparing accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective : January 2019). f OBJECTIVES AND ACTIVITIES : Objectives and aims i 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 recreational activities and forums for discussion discussion and debate for the the personal development of of its i Students. : Significant activities : According to the Constitution, the Union may, Union may, may, for the the betterment of the of the the student body; body; carry out campaigning out campaigning campaigning activities; seek to to : public opinion; and make representations to and seek to influence governmental and other bodies and institutions regarding the : development and implementation of appropriate appropriate policies, legislation and regulations, provided that all such activities shall be : to the activities which an English and Welsh Welsh charity may may properly undertake and provided that the Union complies with the : Act and and any guidance published by by the Charity Commisston. : 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 the student body. The aim ‘ these is to enrich students’ time at university university and provide them with additional services to maintain and improve their health : emotionally and mentally mentally whilst also encouraging their personal their personal personal development. | The Union represents the student voice in matters concerning their university experience. This includes giving advice on 5 academic marks, making complaints related to their course, dealing with housing situations, improving their time at university, : lobbying the University for improvements. The Sabbatical Officers sit on many many University Boards and Committees to ensure that : student voice voice is heard heard at every level. : Public benefit 7 In undertaking undertaking the activities of of the last twelve months, twelve months, months, the Trustees continue to pay due regard to the Charity Commission's guidance : public benefit through their oversight of the the activities of the the Arts University Bournemouth Students' Union. Through adherence to : objectives and activities undertaken undertaken in the the year, the the Students’ Union continued to to fulfil its obligations on behalf of obligations on behalf of on behalf of behalf of of the student body. body.
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The trustees present their report with with the financial statements of the the charity for the the year ended ended 31 July 2023. 2023. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended 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).
a) promoting the interests and welfare of Students at Arts University Bournemouth during their course of study and representing, supporting and advising Students;
c) providing social, cultural, sporting and recreational recreational activities and forums for discussion discussion and debate for the the personal development of of its Students.
According to the Constitution, the Union may, Union may, may, for the the betterment of the of the the student body; body; carry out campaigning out campaigning campaigning activities; seek to 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 appropriate policies, legislation and regulations, provided that all such activities shall be confined to the activities which an English and Welsh Welsh charity may may properly undertake and provided that the Union complies with the Education Act and and any guidance published by by the Charity Commisston.
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 the student body. The aim of these is to enrich students’ time at university university and provide them with additional services to maintain and improve their health physically, emotionally and mentally mentally whilst also encouraging their personal their personal 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 many University Boards and Committees to ensure that the student voice voice is heard heard at every level.
In undertaking undertaking the activities of of the last twelve months, twelve months, months, the Trustees continue to pay due regard to the Charity Commission's guidance on public benefit through their oversight of the the activities of the the Arts University Bournemouth Students' Union. Through adherence to the objectives and activities undertaken undertaken in the the year, the the Students’ Union continued to to fulfil its obligations on behalf of obligations on behalf of on behalf of behalf of of the student body. body.
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, ARTS UNIVERSITY BOURNEMOUTH STUDENTS’ : UNION REPORT OF THE TRUSTEES : For The Year Ended 31 July 2023 ACHIEVEMENT AND PERFORMANCE : Charitable and fundraising activities ; In 22/23, the Students’ Union was in the final year of having students affected by Covid-19. The year was initially an achievement in : itself with getting their name back out to the students and showing its intent to the student body of a positive student experience and activity. The Sabbatical Officers and Union have focused on the need of positive activity that is accessible to all. Studying and socialising during : a cost of living crisis can impact a student's Mental Health and final destination critically. It is the vision of the Union to grow their : ability to support the cost of living the UK has on the students for years to come, especially whilst it is still incredibly difficult for ‘ students to get paid work, affordable housing and general living items at an affordable price. Working with the local community to revamp the high street in the way of art and commission-based work, exploring the opportunities : students have to stay and contribute in the local area after their studies. ‘ The cost of living crisis has had a negative impact on the ability for some students to fully engage with all elements of the union. : However, the cost of activities has risen, plus the cost of renting and booking opportunities for students. We try to keep a happy medium : of opportunities that are either free or affordable, so no student feels left out due to their situation. i Still running Give it a go sessions at a small affordable cost ensures this whilst supporting students mental health. : New emerging funding streams have allowed the union to jook into the future (5 years and above) and how the Union wishes to run : (whether this be an independent entity to the university) but also as a charitable organisation and applying for funding to further the ; experiences of students in a way that creates work experience, paid work and also a positive outcome for the local community. : FINANCIAL REVIEW : Financial position ’ AUBSU's gross income: £239,913 (2022: £354,526) : Block grant: £212,657 (2022: £323,582) : Total Expenditure: £268,839 (2022: £278,271) : Deficit: £28,926 (2022 Surplus: £76,255) : The principle source of finding for AUBSU is the block grant given by the University of £212,657 (2022: £323,582). : The next significant source of income was raised from clubs and societies totalling £7,048 (2022: £11,243). : 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 (2022: £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 £139,819 (2022: £179,764) : 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 2023, AUBSU had total unrestricted reserves of£204,588 (2022: £233,514) with restricted income funds : of £3,104 (2022: £3,104), The restricted funds relate to the Give it a Go activity, representing the remaining unspent Sports England 3 grant. 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 arose during the pandemic where a significant reduction in demand for clubs and activities : took place and a number of key events cancelled. The excess reserves shall continue to be utilised in the forthcoming financial periods j in engaging additional staff to further the activities and services of AUBSU.
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. ARTS UNIVERSITY BOURNEMOUTH STUDENTS' : UNION : REPORT OF THE TRUSTEES ; For The Year Ended 31 July 2023 : FUTURE PLANS : The Students' Union 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 connect with other other students going going into the new normal new normal normal (post pandemic); pandemic); a continuation continuation of support support into the cost of living; living; access to students working during their studies and or opportunities within the student union; 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 (such as within community based or commissioned work) work) : 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 By-Laws (due to be updated), it will be logistically possible for the Union to hold : an effective Student Executive Meeting. : With a new team of staff, 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 has now expired and a new new one will come in its place Winter 2023 (23-26) : along with the with the the Sabbatical Officers and Trustees, Trustees, will guide the Union's Union's direction for the the next couple of years. couple of years. of years. years. : It is also within the unions plan to become a Incorporated Charity in the next 2 years plus investigate the opportunities of Independence : from Arts University Bournemouth to become their own employer. : STRUCTURE, GOVERNANCE AND MANAGEMENT : Governing document : The Arts University Bournemouth Students' Union (AUBSUV) 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 Trustees is responsible for directing the strategic and financial activities of the the organisation, ensuring that any actions are : in line with the current Strategic Plan and fall within the definition of charitable charitable purpose. The Board may exercise all the powers of the the : Union, subject to the Education Act, Constitution and By-Laws. By-Laws. 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 ten External Trustees ; No more than one University Trustee
The Students' Union 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 connect with other other students going going into the new normal new normal normal (post pandemic); pandemic); a continuation continuation of support support into the cost of living; living; access to students working during their studies and or opportunities within the student union; 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 (such as within community based or commissioned work) work)
With a new team of staff, 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 has now expired and a new new one will come in its place Winter 2023 (23-26) along with the with the the Sabbatical Officers and Trustees, Trustees, will guide the Union's Union's direction for the the next couple of years. couple of years. of years. years.
The Board of Trustees Trustees is responsible for directing the strategic and financial activities of the the organisation, ensuring that any actions are in line with the current Strategic Plan and fall within the definition of charitable charitable purpose. The Board may exercise all the powers of the the Union, subject to the Education Act, Constitution and By-Laws. By-Laws.
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; ARTS UNIVERSITY BOURNEMOUTH STUDENTS' : UNION
REPORT OF THE TRUSTEES
For The Year Ended 31 July 2023
STRUCTURE, GOVERNANCE AND MANAGEMENT
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|
|BUG|Coordinator|(up|to|two]|
|Community|Officer|
|Disabilities|Officer|
|Events|Officer|
|Gender|Equalities|Officer|
|Green|Officer|
|International|Officer|
|LGBT+|Officers|(up|to|two)|
|Mature|and Postgraduate|Officer|
|Minority|Ethnic|Officer|
|Neurodivergent|Officers|[up|to|two]|
|Raising|and|Giving|Officer|
|Societies|Officer|
|Sports|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' 5 UNION : REPORT OF THE TRUSTEES : For The Year Ended 31 July 2023 F : 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 j the University. i 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 Bournemouth Fern Barrow Wallisdown Poole Dorset BH12 5HH
Trustees Danny O'Sullivan (resigned 31.8.2022) Adrian Cormack (resigned 6.2.2024) Stephanie Barton (resigned 293.2023) Stella Kajombo (resigned 4.12.2023) Miles Bagarinao (resigned 14.7.2023) Vee Marston (resigned 14.7.2023) Hannah Malone (appointed 1.7.2023) EdisonHelen Manley Earl (appointed(appointed 1.7.2023)1.9.2023) Darren Taylor (appointed 1.9.2023) Stuart Affleck (appointed 1.9.2023) Shaun Daly (appointed 1.9.2023) Emma Duncan (appointed 6.7.2023) Annais Hiller (appointed 6.7.2023) Zuza Parczewska (appointed 6.7.2023) Kevin Hough (appointed 1.9.2023 and resigned 9.4.2024) Nikki Williams (appointed 6.7.2023 and resigned 7.2.2024)
Independent Examiner
Schofields Chartered Accountants 5th Floor Waverley House 115 - 119 Holdenhurst Road Bournemouth Dorset BH8 8DY
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ARTS UNIVERSITY BOURNEMOUTH STUDENTS'
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REPORT OF THE TRUSTEES For The Year Ended 31 July 2023
REFERENCE AND ADMINISTRATIVE DETAILS Bankers
Lioyds Banking Group ple 45/47 Old Christchurch Road Bournemouth BH1 1ED
Advisers During the reporting year ended 31 July 2023, the following were advisors to AUBSU:
Jon Renyard - University Advisor (from 13 January 2022)) Elizabeth Hulbert- Financial Advisor (from 9th July 2019)
BACKGROUND INFORMATION
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Organisation also known as: AUBSU Approved by order ofthe boardoftrustees on & way foot
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and signed on its behalf by:
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. INDEPENDENTARTS UNIVERSITYEXAMINER'S BOURNEMOUTHREPORTSTUDENTS'TO THE TRUSTEES OF
: 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 i year ended 31 July 2023.
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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’).
I 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
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 3. 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.
MrPJ2S Schofields Chartered Accountants 5th Floor Waverley House 115 - 119 Holdenhurst Road Bournemouth Dorset BH8 8DY Date: IR EE EN Essen
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a : : . : ; : ; ; : , i : : ( f | : : : : i : ] : : : : & : - : : : i : :
ARTS UNIVERSITY BOURNEMOUTH STUDENTS' UNION
STATEMENT OF FINANCIAL ACTIVITIES For The Year Ended 31 July 2023
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|2023|2022|
|Unrestricted|Restricted|Total|Total|
|fund|funds|funds|funds|
|Notes|£|£|£|£|
|INCOME AND ENDOWMENTS FROM|
|Donations and|legacies|2|225,407|-|225,407|336,332|
|Charitable|activities|4|
|Student|societies|and|clubs|-|7,048|7,048|11,243|
|Give|it a go|-|160|160|1,328|
|Student|led|activities|326|-|326|$12|
|NUS|extra|-|-|-|396|
|Democracy|and representation|66|-|66|-|
|Student|experience|-|-|-|45|
|Other trading|activities|3|6,906|:|6,906|4,370|
|Tota]|232,705|7,208|239,913|354,526|
|EXPENDITURE ON|
|Raising|funds|41,996|-|41,996|26,068|
|Charitable|activities|5|
|Student|societies and clubs|-|33,903|33,903|34,548|
|Give|it a go|-|23,083|23,083|29,478|
|Student|led|activities|38,451|-|38,451|39,958|
|NUS|extra|13,717|-|13,717|10,324|
|Democracy|and|representation|46,347|-|46,347|56,774|
|Student|experience|33,442|-|33,442|33,673|
|Campaigns|37,900|-|37,900|47,448|
|Total|211,853|56,986|268,839|278,271|
|NET INCOME/(EXPENDITURE)|20,852|(49,778)|(28,926)|76,255|
|Transfers|between|funds|16|(49,778)|49,778|-|-|
|Net movement|in|funds|(28,926)|-|(28,926)|76,255|
|RECONCILIATION|OF|FUNDS|
|Total|funds brought forward|233,514|3,104|236,618|160,363|
|TOTAL FUNDS CARRIED FORWARD|204,588|3,104|207,692|236,618|
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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 2023 : : : i : FIXED ASSETS Tangible assets CURRENT ASSETS : Stocks : Debtors | Cash at bank and bank and and in hand hand : CREDITORS 4 Amounts falling due within one year within one year one year year ; NET CURRENT ASSETS CURRENT ASSETS ASSETS i TOTAL ASSETS LESS CURRENT LIABILITIES ASSETS LESS CURRENT LIABILITIES LESS CURRENT LIABILITIES CURRENT LIABILITIES LIABILITIES : NET ASSETS ASSETS : FUNDS : Unrestricted funds funds : Restricted funds funds TOTAL FUNDS FUNDS : The financial statements were approved by the Board . signed on on its behalf by: by: : Edison Earl - Trustee : Hannah Malone< Trustee
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|2023|2022|
|Unrestricted|Restricted|Total|Total|
|fund|funds|funds|funds|
|Notes|£|£|£|£|
|FIXED|ASSETS|
|Tangible|assets|12|11,207|-|11,207|7,307|
|CURRENT|ASSETS|
|Stocks|13|-|-|-|565|
|Debtors|14|40,570|-|40,570|62,045|
|Cash|at bank and bank and and|in hand hand|162,945|3,283|166,228|174,130|
|203,515|3,283|206,798|236,740|
|CREDITORS|
|Amounts|falling|due within one year within one year one year year|15|(10,134)|(179)|(10,313)|(7,429)|
|NET CURRENT ASSETS CURRENT ASSETS ASSETS|193,381|3,104|196,485|229,311|
|TOTAL ASSETS LESS CURRENT LIABILITIES ASSETS LESS CURRENT LIABILITIES LESS CURRENT LIABILITIES CURRENT LIABILITIES LIABILITIES|204,588|3,104|207,692|236,618|
|NET ASSETS ASSETS|204,588|3,104|207,692|236,618|
|FUNDS|16|
|Unrestricted funds funds|204,588|233,514|
|Restricted funds funds|3,104|3,104|
|TOTAL FUNDS FUNDS|207,692|236,618|
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The financial statements were approved by the Board of Trustees and authorised for issue on & MM Zohn. and were signed on on its behalf by: by:
The notes form part of these financial statements
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: ; , ARTSUNIONUNIVERSITY BOURNEMOUTH STUDENTS' NOTES TO THE FINANCIAL STATEMENTS : For The Year Ended 31 July 2023 : 1. ACCOUNTING POLICIES : Basis of preparing the financial statements The financial statements of the the charity, which is a public benefit entity under FRS FRS 102, have been prepared in accordance with : the Charities SORP (FRS 102) ‘Accounting and Reporting by Charities: Statement of Recommended Recommended Practice applicable to ; charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK 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 Ircland' UK and Republic of Ircland' and Republic of Ircland' Republic of Ircland' Ircland' and the the Charities Act 2011. 2011. The financial statements have been prepared under the been prepared under the prepared under the under the the historical : cost convention. 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 5 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 é 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 can be measured measured reliably. ; On receipt, donated professional services and donated facilities are recognised on the basis of the the value to the Union which is i the amount that the Union would have paid on the open market to obtain the services or facilities; a corresponding amount is . then recognised recognised in expenditure in the period of receipt. of receipt. 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 recognised 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 recognised as income, as the Union Union is acting only only as an agent; such funds are held within within other creditors until paid paid over : to the recipient recipient charities. E 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 economic benefits will be required in settlement and the amount of the 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 basis consistent with with the use of resources. 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. i : 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 the charity. Restrictions arise when : specified by by the donor or when funds or when funds when funds funds are raised for particular particular restricted purposes. purposes. : Page 10 continued...
The financial statements of the the charity, which is a public benefit entity under FRS FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) ‘Accounting and Reporting by Charities: Statement of Recommended Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK 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 Ircland' UK and Republic of Ircland' and Republic of Ircland' Republic of Ircland' Ircland' and the the Charities Act 2011. 2011. The financial statements have been prepared under the been prepared under the prepared under the under the the historical cost convention. convention.
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 can be measured measured reliably. On receipt, donated professional services and donated facilities are recognised on the basis of the 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 recognised in expenditure in the period of receipt. of receipt. 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 recognised 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 recognised as income, as the Union Union is acting only only as an agent; such funds are held within within other creditors until paid paid over to the recipient recipient charities.
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 economic benefits will be required in settlement and the amount of the 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 basis consistent with with the use of resources. resources.
Restricted funds can only be used for particular restricted purposes within the objects of the the charity. Restrictions arise when specified by by the donor or when funds or when funds when funds funds are raised for particular particular restricted purposes. purposes.
4 : ; ARTSUNIONUNIVERSITY BOURNEMOUTH STUDENTS' : NOTES TO THE FINANCIAL STATEMENTS - continued : For The Year Ended 31 July 2023
: Further explanation of the nature and purpose of each fund is included in the notes to the financial statements. : 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 three months or : from the the date of acquisition acquisition or opening of the opening of the of the the deposit or or similar account. : Hire purchase and leasing commitments : Rentals paid under operating under operating operating leases are charged to the Statement of Financial Financial Activities on on a straight line basis over the of the 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 : charged to the Statement of Financial of Financial Financial Activities in the period the period period to which which they relate. Going concern : The Union has cash resources and no requirement for external funding. The Trustees have a reasonable expectation that : Union has adequate resources to continue in operational existence for the foreseeable future. It has has been concluded that : are no material uncertainties and that it is appropriate for the the financial statements to be prepared on a going prepared on a going on a going a going going concern basis. : Financial instruments : All financial assets and liabilities are recognised as basic financial instruments which are initially recognised at , value and subsequently measured measured at their their settlement value value : 2. DONATIONS AND LEGACIES : 2023 2022 : £ £ : Donated services and facilities 12,750 12,750 AUB Block grant 212,657 323,582 225,407 336,332 : All income from donations and legacies is unrestricted in both the current and previous year. : 3. OTHER TRADING ACTIVITIES : 2023 2022 ; ‘Fundraising events 6,485 3,828 5 Merchandise sales 421 542 6,906 4,370
:
- ACCOUNTING POLICIES- continued
Fund accounting
Cash at bank and in hand includes cash and short term highly liquid investments with a short maturity of three three months or less from the the date of acquisition acquisition or opening of the opening of the of the the deposit or or similar account.
Rentals paid under operating under operating operating leases are charged to the Statement of Financial Financial Activities on on a straight line basis over the period of the 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 of Financial Financial Activities in the period the period period to which which they relate.
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 has been concluded that there are no material uncertainties and that it is appropriate for the the financial statements to be prepared on a going prepared on a going on a going a going 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 measured at their their settlement value value
All income from other trading activities is unrestricted in both the current and previous year.
Page 11
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: : : : : : . : : 4 : : : : :
| : ; ARTSUNIVERSITYBOURNEMOUTHSTUDENTS' |
|---|
| : NOTESTOTHEFINANCIALSTATEMENTS- continued |
| : ForTheYearEnded31 July2023 |
| ‘ 4. INCOMEFROMCHARITABLEACTIVITIES : Student Student : societies Give ita led P and clubs go activities |
| ; £ £ £ |
| 2 NUS extra cards - - - |
| : Membership 5,375 - - |
| ; 7,048 160 326 |
| : 2023 2022 c Democracy : and Total Total ‘ representation activities activities : £ £ £ : NUS extracards - - 396 : Membership - 5,375 7,496 : Equipmentandresources - 1,499 574 : Competitions and otherincome - 138 786 : Advertising 66 66 17 Events - 522 4,555 |
| 66 7,600 13,824 |
Total income from charitable activities amounted to £7,600 (2022: £13,824) of which £392 (2022: £1,253) was unrestricted and £7,208 (2022: £12,571) was restricted revenue funds.
- CHARITABLE ACTIVITIES COSTS
| : 5. CHARITABLE ACTIVITIESACTIVITIES COSTS : Direct Support : Costs (see costs (see : note 6) note 7) Totals £ £ £ |
|---|
| 7 Student societies and clubs 25,081 8,822 33,903 . Giveitago 13,276 9,807 23,083 |
| : Student led activities 21,778 16,673 38,451 : NUS extra 10,773 2,944 13,717 |
| 4 Democracy and representation 22,810 23,537 46,347 : Student experience 16,769 16,673 33,442 : Campaigns 18,287 19,613 37,900 |
| : 128,774 98,069 226,843 |
Total costs of charitable activities were £226,843 (2022: £252,203) of which £169,857 (2022: £188,177) was unrestricted and £56,986 (2022: £64,026) was restricted income funds.
:
Page 12
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A
: , ARTS UNIVERSITY BOURNEMOUTH STUDENTS' : UNION : NOTES TO THE FINANCIAL STATEMENTS- continued : For The Year Ended 31 July 2023
¥ L ; t i
| i 6. DIRECT COSTSOFCHARITABLEACTIVITIES : 2023 2022 : £ £ |
|---|
| : Trustees’ remuneration etc 40,597 31,462 |
| : Staffcosts 48,086 67,598 |
| : Equipment 7,487 5,000 : Membership 1,568 5,704 : Activitiesandevents 1,670 1,093 : . CompetitionEntry 1,360 849 : Venue hire 5,131 3,866 |
| : Coaching and instructors 5,833 6,894 Miscellaneous 1,924 1,424 , Advertising 1,798 1,316 : Printing - 2,615 i Travelandsubsistence 613 1,069 ; StudentUnionPresident costs 971 1,253 : StudentUnionVice Presidentcosts 372 86 : Hospitality 519 - : Conferences and events 540 60 : Training 2,155 375 : Webhosting 50 165 : Affiliation fees 8,100 6,476 |
| : 128,774 137,305 |
| : 7. SUPPORT COSTS : Training : Information and : Management Finance technology networking : £ £ £ £ 3 Student societies and clubs 6,604 36 835 654 : Give it ago 7,340 40 929 727 : Student ledactivities 12,479 69 1,579 1,236 : NUS extra 2,203 12 279 218 Democracy andrepresentation 17,617 97 2,229 1,745 : Studentexperience 12,479 69 1,579 1,236 : Campaigns 14,680 81 1,857 1,454 |
| ‘ 73,402 404 9,287 7,270 |
| : Governance : Resources Other costs Totals 2 £ £ £ £ : Student societies and clubs 280 11 402 8,822 : Give it ago 312 12 447 9,807 : Studentledactivities 529 21 760 16,673 : NUS extra 94 4 134 2,944 " Democracy andrepresentation 747 29 1,073 23,537 : Studentexperience 529 21 760 16,673 ; Campaigns 623 24 894 19,613 |
| : 3,114 122 4,470 98,069 |
| ig |
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‘ c ; .
‘ . ARTS UNIVERSITY BOURNEMOUTH STUDENTS' ; NOTES TO THE FINANCIAL STATEMENTS - continued : For The Year Ended 31 July 2023
;
- SUPPORT COSTS - continued
| Activity Basisofallocation . Management Basedontime spent é Finance Based ontime spent : Informationtechnology Basedontime spent i Training and networking Based ontime spent : Resources Basedontime spent |
|---|
| ; Other Basedontime spent t Governance costs Based on time spent |
| : Supportcosts, included inthe above, are as follows: : Student Student : societies Give ita led : andclubs go activities NUS extra £ £ £ ; £ : Trustees’ remuneration etc 913 1,015 1,725 305 : Wages 3,688 4,099 6,968 1,230 ; Donatedrentand services 1,147 1,274 2,168 383 ‘ Advertising 258 287 487 86 : Licences 330 367 623 110 : Trusteeand committeemeetings 13 14 24 4 |
| ‘ Depreciation oftangible and : heritage assets 255 284 484 85 Bank charges 36 40 69 12 : Website costs 835 929 1,579 279 : Training andconferences 654 727 1,236 218 Officeequipment 214 239 406 72 : Postage and stationery 66 73 123 22 : Sundries 11 12 21 4 : Independent examiners fees 402 447 760 134 |
| ‘ 8,822 9,807 16,673 2,944 |
| : 2023 2022 |
| : Democracy . and Student Total Total representation experience Campaigns activities activities : £ £ £ £ £ Trustees’ remuneration etc 2,436 1,725 2,030 10,149 13,484 7 Wages 9,837 6,968 8,197 40,987 67,220 : Donated rentandservices 3,060 2,168 2,550 12,750 12,750 A Advertising 688 487 573 2,866 - i Licences 880 623 733 3,666 1,298 : Trusteeand committee 34 24 28 141 - : meetings : Depreciation oftangible and t heritage assets 682 484 569 2,843 2,454 i Bankcharges 97 69 81 404 742 : Website costs 2,229 1,579 1,857 9,287 9,810 ; Training andconferences 1,745 1,236 1,454 7,270 1,464 : Officeequipment 573 406 478 2,388 950 . Postage and stationery 174 123 145 726 222 k Sundries 29 21 24 122 304 4 Independent examiners fees 1,073 760 894 4,470 4,200 |
| j 23,537 16,673 19,613 98,069 114,898 |
Fa
Page 14
continued...
. ARTS UNIVERSITY BOURNEMOUTH STUDENTS’
NOTES TO THE FINANCIAL STATEMENTS - continued For The Year Ended 31 July 2023
:
1 t
:
----- Start of picture text -----
|||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|8.|TRUSTEES'|REMUNERATION AND BENEFITS|
|‘|2023|2022|
|:Trustees’|salaries|50,251|44,121|
||Trustees'|pension contributions|to money purchase schemes|495|825|
|50,746|44,946|
|:|During|the year the|charity|paid the|following|trustees'|remuneration:|
|;|Gross|Pension|Gross|Pension|
|:|Pay|Contributions|Pay|Contributions|
|:|2023|2023|2022|2022|
|:|
|Ellie|Grant|President Academic Year 2021/22|-|-|19,969|413|
|i|
|z|Judith|Allen|Vice President Academic Year 2021/22|-|-|19,952|412|
|:|Miles Bagarinao|—‘|President Academic Year 2022/23|22,713|-|2,100|-|
|5|Vee Marston|Vice President Academic Year 2022/23|23,206|495|2,100|
|j|Ed Earl|President Academic Year|2023/24|2,166|-|-|-|
|:|Hannah Malone|Vice|President Academic Year 2023/24|2,166|_|-|-|
|;|=50,251|=495|ae44,121|=825|
|:|
|:|The|President|and Vice Vice|President,|as|elected|during|the|year,|were the the|only|Trustees|to|receive|any remuneration remuneration|and this this was|
|‘|for|their|representation,|campaigning|support,|managerial|and|operational|work and and|distinct from from|their|Trustees|
|:|and|as authorized by the AUBSU governing authorized by the AUBSU governing by the AUBSU governing the AUBSU governing AUBSU governing governing|document.|
|i|No|other|Trustees|received|remuneration|for|their|services.|The|Board|of|Trustees|consider|themselves|to|be|the|
|é|Management Personnel. Personnel.|The remuneration of remuneration of of|Key Management Personnel Management Personnel Personnel|totalled £50,746 £50,746|(2022:|£44,946).|
|(|Trustees'|expenses|
|;|The reimbursement reimbursement|of Trustees Trustees|expenses was as follows: was as follows: as follows: follows:|
|2023|2022|2023|2022|
|:|No.|No.|£|£|
||4|EventsTravelTravel|and|subsistence|2ll|111|153774774|1503434|
|'|3|2|927|184|
|:|9.|STAFF|COSTS|
|:|2023|2022|
|:|Wages and salaries and salaries salaries|139,324|178,939|
|4|Other pension pension|costs|495|825|
|;|139,819|179,764|
|Included|above|are|recharged|costs|for|salaries,|employers|national|insurance|and|pension|costs|of £88,117 £88,117 £88,117|(2022:|
|||for|staff who who who|are|employed|by|Arts|University|Bournemouth|(AUB)|but|utilised|by|AUBSU|for|events,|sports|and|
|:|assistance.|The|average number of staff employed through AUB number of staff employed through AUB of staff employed through AUB staff employed through AUB employed through AUB through AUB AUB number of staff employed through AUB of staff employed through AUB staff employed through AUB employed through AUB through AUB AUB of staff employed through AUB staff employed through AUB employed through AUB through AUB AUB staff employed through AUB employed through AUB through AUB AUB employed through AUB through AUB AUB through AUB AUB AUB|but used by AUBSU used by AUBSU by AUBSU AUBSU used by AUBSU by AUBSU AUBSU by AUBSU AUBSU AUBSU|is 4 (2022: 4 (2022: (2022: 4 (2022: (2022: (2022:|6).|
|i|The|average monthly number of monthly number of number of of monthly number of number of of number of of of|employees during the year was during the year was the year was year was was during the year was the year was year was was the year was year was was year was was was|as|follows:|
----- End of picture text -----
The President and Vice Vice President, as elected during the year, were the the only Trustees to receive any remuneration remuneration and this this was for their representation, campaigning support, managerial and operational work and and distinct from from their Trustees responsibilities and as authorized by the AUBSU governing authorized by the AUBSU governing by the AUBSU governing the AUBSU governing AUBSU governing governing document. No other Trustees received remuneration for their services. The Board of Trustees consider themselves to be the Key Management Personnel. Personnel. The remuneration of remuneration of of Key Management Personnel Management Personnel Personnel totalled £50,746 £50,746 (2022: £44,946).
----- Start of picture text -----
||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|The reimbursement reimbursement|of Trustees Trustees|expenses was as follows: was as follows: as follows: follows:|
|2023|2022|2023|2022|
|No.|No.|£|£|
|EventsTravelTravel|and|subsistence|2ll|111|153774774|1503434|
|3|2|927|184|
|9.|STAFF|COSTS|
|2023|2022|
|Wages and salaries and salaries salaries|139,324|178,939|
|Other pension pension|costs|495|825|
|139,819|179,764|
|Included|above|are|recharged|costs|for|salaries,|employers|national|insurance|and|pension|costs|of £88,117 £88,117 £88,117|(2022:|
|for|staff who who who|are|employed|by|Arts|University|Bournemouth|(AUB)|but|utilised|by|AUBSU|for|events,|sports|and|
|assistance.|The|average number of staff employed through AUB number of staff employed through AUB of staff employed through AUB staff employed through AUB employed through AUB through AUB AUB number of staff employed through AUB of staff employed through AUB staff employed through AUB employed through AUB through AUB AUB of staff employed through AUB staff employed through AUB employed through AUB through AUB AUB staff employed through AUB employed through AUB through AUB AUB employed through AUB through AUB AUB through AUB AUB AUB|but used by AUBSU used by AUBSU by AUBSU AUBSU used by AUBSU by AUBSU AUBSU by AUBSU AUBSU AUBSU|is 4 (2022: 4 (2022: (2022: 4 (2022: (2022: (2022:|6).|
|The|average monthly number of monthly number of number of of monthly number of number of of number of of of|employees during the year was during the year was the year was year was was during the year was the year was year was was the year was year was was year was was was|as|follows:|
|2023|2022|
|Trustees|2|2|
|No|employees|received emoluments|in|excess|of £60,000.|
----- End of picture text -----
Included above are recharged costs for salaries, employers national insurance and pension costs of £88,117 £88,117 £88,117 (2022: £134,817) for staff who who 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 number of staff employed through AUB of staff employed through AUB staff employed through AUB employed through AUB through AUB AUB number of staff employed through AUB of staff employed through AUB staff employed through AUB employed through AUB through AUB AUB of staff employed through AUB staff employed through AUB employed through AUB through AUB AUB staff employed through AUB employed through AUB through AUB AUB employed through AUB through AUB AUB through AUB AUB AUB but used by AUBSU used by AUBSU by AUBSU AUBSU used by AUBSU by AUBSU AUBSU by AUBSU AUBSU AUBSU is 4 (2022: 4 (2022: (2022: 4 (2022: (2022: (2022: 6). The average monthly number of monthly number of number of of monthly number of number of of number of of of employees during the year was during the year was the year was year was was during the year was the year was year was was the year was year was was year was was was as follows:
Page 15
continued...
. ARTS UNIVERSITY BOURNEMOUTH STUDENTS'
:
NOTES TO THE FINANCIAL STATEMENTS - continued For The Year Ended 31 July 2023
| NOTES TO THE FINANCIALTHE FINANCIALFINANCIAL STATEMENTS - continued | NOTES TO THE FINANCIALTHE FINANCIALFINANCIAL STATEMENTS - continued | ||||
|---|---|---|---|---|---|
| : | For The Year Ended 31The Year Ended 31Year Ended 31Ended 3131 July 20232023 | ||||
| : 10. COMPARATIVESFORTHE STATEMENT OFFINANCIAL ACTIVITIES ‘ Unrestricted Restricted Total ‘ fund funds funds 5 £ £ £ ‘ INCOME ANDENDOWMENTS FROM : Donations andlegacies 336,332 - 336,332 |
|||||
| : i : : : : |
Charitable activities Student societies and clubs Give itago Studentledactivities NUS extra Studentexperience |
- ~ 812 396 45 |
11,243 1,328 - - - |
11,243 1,328 812 396 45 |
|
| Othertrading activities | 4,370 | - | |||
| : | Total | 341,955 | 12,571 | 354,526 | |
| / : |
EXPENDITUREON Raising funds |
26,068 | - | 26,068 | |
| Charitable activities | |||||
| : : ‘ : : : : |
Student societies and clubs Give itago Studentled activities NUS extra Democracy andrepresentation Studentexperience Campaigns |
- - 39,958 10,324 56,774 33,673 47,448 |
34,548 29,478 - - - - - |
34,548 29,478 39,958 10,324 56,774 33,673 47,448 |
|
| : | Total | 214,245 | 64,026 | 278,271 | |
| : : |
NETINCOME/(EXPENDITURE) Transfers between funds |
127,710 (51,088) |
(51,455) 51,088 |
76,255 - |
|
| : | Netmovement infunds | 76,622 | (367) | 76,255 | |
| : : |
RECONCILIATIONOFFUNDS Total funds brought forward |
156,892 | 3,47) | 160,363 | |
| : | TOTALFUNDS CARRIEDFORWARD | 233,514 | 3,104 | 236,618 | |
| : | 11. | INDEPENDENTEXAMINERSFEES | |||
| : | 2023 | 2022 | |||
| : | IndependentExaminers fees fortheexamination ofthe financial statements | 4,700 | 4,200 | ||
| ' | 4,700 | 4,200 |
Page 16
continued...
i
----- Start of picture text -----
|||||||||
|---|---|---|---|---|---|---|---|
|:|ARTS UNIVERSITY BOURNEMOUTH|STUDENTS'|
|:|UNION|
|NOTES TO THE FINANCIAL|STATEMENTS-|continued|
|:|For The Year Ended 31|July 2023|
|:|12.|TANGIBLE FIXED ASSETS|
|||Fixtures|
|and|Computer|
|i|fittings|equipment|Totals|
|£|£|£|
|;|COST|
|:|At|1|August 2022|4,945|15,796|20,741|
|:|Additions|-|6,744|6,744|
|/|At 31|July 2023|4,945|22,540|27,485|
|:|DEPRECIATION|
|:|At|1|August 2022|3,183|10,251|13,434|
|;|Charge|for year|265|2,579|2,844|
|:|At 31|July 2023|3,448|12,830|16,278|
|:|NET BOOK VALUE|
|:|At 31|July|2023|1,497|9,710|11,207|
|:|At 31|July 2022|1,762|5,545|7,307|
|;|13.|STOCKS|
|:|2023|2022|
|i|Merchandise|for resale|-|565|
|:|14.|DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR|
|:|2023|2022|
|:|The|Arts University Bournemouth|37,930|38,751|
|:|Other debtors|497|1,011|
|:|Prepayments|and accrued income|2,143|22,283|
|:|40,570|62,045|
|:|15.|CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR|
|3|2023|2022|
|i|Other|creditors|102|-|
|:|Accruals|and|deferred|income|10,211|7,429|
|7|
|:|10,313|7,429|
|L|16.||MOVEMENT IN FUNDS|
|i|Net|Transfers|
|:|movement|between|At|
|‘|At|1.8.22|in funds|funds|31.7.23|
|:|
|gUnrestricted|funds|
|c|General fund|233,514|20,852|(49,778)|204,588|
|:|Restricted|funds|
|:|Social|Sporting|Activities|3,104|(22,923)|22,923|3,104|
|:|Clubs and|Societies|-|(26,855)|26,855|-|
|3,104|(49,778)|49.778|3,104|
|TOTAL FUNDS|236,618|(28,926)|-|207,692|
----- 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 2023
16. MOVEMENT IN FUNDS- continued
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|232,705|(211,853)|20,852|
|Restricted|funds|
|Social|Sporting|Activities|160|(23,083)|(22,923)|
|Clubs|and|Societies|7,048|(33,903)|(26,855)|
|7,208|(56,986)|(49,778)|
|TOTAL FUNDS|239,913|(268,839)|(28,926)|
|Comparatives|for movement in|funds|
|Net|Transfers|
|movement|between|At|
|At|1.8.2]|in|funds|funds|31.7.22|
|;|
|:Unrestricted|funds|
|General|fund|156,892|127,710|(51,088)|233,514|
|Restricted|funds|
|Social|Sporting|Activities|3,104|(28,150)|28,150|3,104|
|Clubs|and|Societies|367|(23,305)|22,938|-|
|3,471|(51,455)|51,088|3,104|
|TOTAL FUNDS|160,363|76,255|-|236,618|
|Comparative|net movement|in|funds,|included|in the|above|are|as|follows:|
|Incoming|Resources|Movement|
|resources|expended|in|funds|
|£|£|£|
|Unrestricted|funds|
|General|fund|341,955|(214,245)|127,710|
|Restricted|funds|
|Social|Sporting|Activities|1,328|(29,478)|(28,150)|
|Clubs and Societies|11,243|(34,548)|(23,305)|
|12,571|(64,026)|(51,455)|
|TOTAL FUNDS|354,526|(278,271)|76,255|
----- 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.
Page 18
continued...
ARTS UNIVERSITY BOURNEMOUTH STUDENTS' UNION
.
NOTES TO THE FINANCIAL STATEMENTS - continued For The Year Ended 31 July 2023
7 : i : : : i : : ‘ : ‘ : ;
:
- MOVEMENT IN FUNDS - continued
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 of a block grant from the Arts University Bournemouth (AUB) of £212,657 (2022: £323,582). Of the grant £124,540 (2022: £202,056) was physically received with the residual £88.117 (2022: £121,526) 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 (2022: £12,750). At 31 July 2023, the Arts University Bournemouth owed the charity £37,930 (2022: £38,751). 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 19
:
F
ARTS UNIVERSITY BOURNEMOUTH STUDENTS'
|
: : | :
DETAILED STATEMENT OF FINANCIAL ACTIVITIES For The Year Ended 31 July 2023
:
:
:
. : :
| DETAILED STATEMENT OF FINANCIAL ACTIVITIESACTIVITIES For TheThe Year EndedEnded 31 July 2023 |
||
|---|---|---|
| 2023 | 2022 | |
| £ | £ | |
| INCOMEANDENDOWMENTS | ||
| Donations and legacies | ||
| Donated services and facilities | 12,750 | 12,750 |
| AUB Block grant | 212,657 | 323,582 |
| 225,407 | 336,332 | |
| Other trading activities | ||
| Fundraising events | 6,485 | 3,828 |
| Merchandise sales | 42) | 542 |
| 6,906 | 4,370 | |
| Charitable activities | ||
| NUS extra cards | - | 396 |
| Membership Equipmentandresources Competitions and otherincome |
5,375 1,499 138 |
7,496 574 786 |
| Advertising Events |
66 522 |
17 4,555 |
| Total incoming resources | 239,913 | 354,526 |
| EXPENDITURE | ||
| Raising donations and legacies | ||
| Merchandising costs | 844 | 881 |
| Fundraising events | 41,152 | 25,187 |
| 41,996 | 26,068 | |
| Charitable activities | ||
| Trustees' salaries | 40,597 | 31,462 |
| Wages Equipment |
48,086 7,487 |
67,598 5,000 |
| Membership Activities andevents Competition Entry |
1,568 1,670 1,360 |
5,704 1,093 849 |
| Venue hire | §,131 | 3,866 |
| Coaching and instructors | 5,833 | 6,894 |
| Miscellaneous Advertising Printing Travel and subsistence |
1,924 1,798 - 613 |
1,424 1,316 2,615 1,069 |
| Student Union President costs | 971 | 1,253 |
| Student Union Vice President costs | 372 | 86 |
| Hospitality | 519 | - |
| Conferences and events | 540 | 60 |
| Training Webhosting Affiliation fees |
2,155 50 8,100 |
375 165 6,476 |
| 128,774 | 137,305 |
This page does not form part of the statutory financial statements
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: ARTS UNIVERSITY BOURNEMOUTH STUDENTS'
2; : : : ; : : : ‘ : : : : : : : : : : : :
DETAILED STATEMENT OF FINANCIAL ACTIVITIES For The Year Ended 31 July 2023
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|||||||
|---|---|---|---|---|---|
|2023|2022|
|Support|costs|
|Management|
|Trustees’|salaries|9,654|12,659|
|Trustees’|pension contributions|495|825|
|Wages|40,987|67,220|
|Donated|rent|and|services|12,750|12,750|
|Advertising|2,866|-|
|Licences|3,666|1,298|
|Trustee|and|committee meetings|141|-|
|Fixtures|and|fittings|264|311|
|Computer equipment|2,579|2,143|
|73,402|97,206|
|Finance|
|Bank charges|404|742|
|Information|technology|
|Website|costs|9,287|9,810|
|Training|and|networking|
|Training|and conferences|7,270|1,464|
|Resources|
|Office|equipment|2,388|950|
|Postage and|stationery|726|222|
|3,114|1172|
|Other|
|Sundries|122|304|
|Governance|costs|
|Independent examiners|fees|4,470|4,200|
|Total resources expended|268,839|278,27)|
|Net (expenditure)/income|(28,926)|76,255|
----- End of picture text -----
:
This page does not form part of the statutory financial statements
Page 21