REGISTERED CHARITY NUMBER: 1152400 REPORT OF THE TRUSTEES AND UNAUDITED FINANCIAL STATEME]Yrs FOR THE I"EAR ENDED 31 JULI 2024 FOR ARTS UNIN'ERSITI. BOLRI EMOUTH STUDENTS, Schoficlds Chartered A¢Lountsn Unit l. Si Siephens Court li- 17 St Stephens Road Boumemouth DOrt Bl12 61.A
ARTS UNIVERSITY BOURNEMOUTH STUDENTS. UNION CONTENTS OF THE FIN.4NCIAL STATEMENTS For The l'ear Ended 31 Jul 2024 Page Report of the Trustee5 Independent Examiner's Report Statement of Financial Activities Balanee Sheet Notes to the Financial Statements 9 to 18 Detailed Statement of Fingneial Aetivities 19 to 20
ARTS UNIVERSITY BOURNEMOUTH STUDENTS. UNION REPORT OF THE TRUSTEES For The l'ear Ended 31 Jul 2024 'l-he irusiees presen( Ih¢ii iepori w ith the financial slatements ofihe ¢haritv for the l'ear ended 31 Jul!. 20?4. '1-he Iruslees hae adopled the proN'i8ions of Accouniing and Reporting b!. Charities.. Staiemeni of Recommended Practice applicable to charities preparing their accounts in accordancc '1th thc financial Rcporting Standard applicable in thc UK and Republic of Ireland {fRS 1021 (cffcctive l January 2019). OBJECTIVES AND ACTIVITIES Objectives and aims 'l-he Ans UnlerSit1. 14oumemouih Students, Union's principle aims are set out in the Conslilulion as follows.. The Union'5 objects are the advancctnent of cducation of Students at Arts UniN'ersitJ" Bournernouth for the public bcnetit by= a} promoting the interests and '¢Lfare of Studcnts at .Qrts Unii"ersits" Bourncmouth during thcir course of stud!, and representin& supporting and advising Students. b) being ihe recognised representhtive channel beli%'een Siudents and Ans Universilj Bournemouih and an!. oiher external Ixidies: and c} prolding social. iultural. sporting and re¢realional aciiTr"iiies and forums for discussion and debaie for the personal developmenl of ils Students. Signifieant activities According to thc Constitution, thc Union ma).. for thc bcttcrnicnt of the student bod!": carry. out campaigning activitics- seck to influence public opinion; and make representations 10 and seek to influence eoi'emmental and other bodies and institutions regarding Ihe refom, dcvcloptncnt and implcmcntation of appropriaiL policics. Icgislation and rL-gulaiions. proi.idcd thai all such actii.'itics sl)all bc confincd to the ailivilies which an F.nglish and Welsh charit)" ma}. properli" undertake and provided thai ihe Union Complies M'iih ihe FAlucalion Act and any guidancL publishLd b!, thc Charity Comtnission. The Ilnion also proi'ides eXterr1CUIar actil¥'ities for the snJdent& such as.. sports clubs and socieiies- volunteering opportunities- ei'ening and daTr'titne social eTrents and actiTritics: and awar¢ne55 Cl"ctits and campaign5 in the interest of ihc studcnt bodN.. The aim ot these 15 to enrich siudents, lime at unii'ersits. and pros'ide them ii'ith addiiional sen'ices 10 maintain and improi'e their health phN'sically, emotionalls, and mentall> ii'hilst also encouraging their personal dei"clopment. Thc Union rcprcscnts thc studcnt Yoicc in mattcrs conccrning thcir unii-crsiti" cxpcricncc. This includcs giving advicc on appcaling academic marks. making Complaints related to their course. dealing ii.iih housing situations. improving Iheir liine at unii'ersit)., and lobbying thc UniN'Lrsits." for improN"LillLllts. Thc Sabbatical Officcrs sit on manN" UniN'crsit)' Boards and C.otnmittccs to cnsurc that thc student voic¢ is hcard at ever). level. Public beerit In undertaking the actii'iiies of the last rw'eli'e month& the Trusiees continue to pai. due regard to the Charitv Commission's Quidance on public bLnLfit through thLif oN'Lrsight of thL activitlLS of thc .4rts Unii"crsiti' Bourncmouth Students, Union. Through adhcrLllcL to thc objectives and activities undellaken in the ! ear. Ihe Siudenis. Union Continued w fulfil lis obligations on behalf ofihe student body. Strategic Overview AIJBSIJ launched a straiegic plan in 2023 based around four ke! pledees.. emplol'ability.. communiti.. student voice. and studeni support. Howei'cr. a Developmcnt Rcl'iew in 2024 idcntificd thc nced for wider consultation. clearer KPIS. and bcttcr alignment il'ith institutional goals. In response. a new straiegic plannine pmcess M'ill launch in ?024125. c£rdied ii'ith students and staff to deliver measurable and impactful outcotlle5. ACHIEVETrIENT AiYD PERFORlANCE Charitable and fundraising actii'ities The 20?3124 wear saw a valucfrled approach to rcprc5cntation. campaign dclivcn". and studcnl supporL Th'ith notablc achievctnents including.. Sttident Engagement.. A ii'ell-attended Student Town Hall and AGM helped renew democratic engagement and transparency. Reprc5entation.' Positii'c teedback li.as rcc¢ii"cd on oflicer visibilits" and campaign Icadcrship. HO¢'¢r. the academic rep S}'slem remained Unde[de.¢10ped. prompting a planned refresh for 2024125. c.ampaign Iinpact.. EN"unts during PridL. Ncurodii"crsiti- Cclcbrdtion and Black History, Month strcngthcncd studcnt-lcd acti ism and F.l)l engagemeni. C.ostwof-Living Supp)rt.' ALIB EntialS offcrcd affordablL food and supplics= mcntal hcalth conccrns and catnpus safcti, wcrc recurrcnt student i55ues. CJlobal Community'= The SU collaborated w'ith AUB to sup]N)rt iniernational snjdents, particularl). around transport: isolation. and affordabilitN'. Susiainability.: The Eco Council and climare aciion campaigns supported secior-llpide environmental aareness. Challenges persisted around intemal iommuni¢aiion. brand consiSn¢'. and olTi¢er burnoul. A legac and capacilN' reviemi is now undcrwaN' to addrLss sustainabilitN' of Lffort and handoi.cr planning. Pagc I
ARTS UNIVERSITY BOURNEMOUTH STUDENTS. UNION REPORT OF THE TRUSTEES For The Year Ended 31 Jul . 2024 FINANCIAL REVIEIV Finanf ial position AIJBSIJ'S gross income.. £325.95112023.. £239:9131 Block grant= £275.334 {2023.. £21?.657) 'l-otsl F.xpenditure: £403.717 {?023 268.839) Dcficit.. £77,76612023.. £28,926) Thc principlc source of funding for AUBSU is thc block grdllt givcn b!. thc Univcrsith- of £275.334 (2023.. 212.657). The next significant source of income il'as rnised from clubs and socieiies iotalling £13.24112023.. £7.048). The lJniversiti' proN'ides the Studenis, lJnion H-ith an office. stordee facilities. utilities and accounting services for no charge. As rccommLndcd b!, thc Charitics SORP. thc LStimaiLd i"aluL of thLSi SCn"iccs and proi-isions in-kind is Tr'alucd at £12.750 {2023..£12,750) and has been included in the a¢counls. -11)e-l-ruslees believe thai this support will continue from ihe Unil'ersil!. for the foreseeable fulure. 'l-he major iiem of expenditure relaied lo personnel of £216.030 (2023= £139.819) Reserve5 policy The Accoiinting and Reporting for Charities, Statemeni of Recommended Prnciice defines resen'es as income 'hICh becomes available to AUBSLI and 15 to be spent at th¢ Trustces, discrclion in lurthcrance of an!" of the AUBSU objects. but ii'hich is not l'et spent. coinmitlcd or designaied. This definiiion of resern'es therefore eNcludes restricied and designaied funds and income funds that could onls. be realised b), disposing of fixLd asscts hcld for Union USL. At 31 Julv 2024. .4UBSU had total unrLStrictLd rLSirvcs of £l?6.822 {2023= 204.5881. FrcL fuSCnWCS. fL"prcscnting unrLStrictcd funds Icss designated funds and fixed assets amounied to £113.?15 (20fj3= £193.381) Resiricied income funds amounied 10 £3.104 {20•3: £3,104) as at 31 Jul!, 2024. The restricted funds relate io the GI.e li a Go aciii'in.. represeniing the remainino unspent Sports England grant. The Tn]stee unrestricied core resen'es polio. is to retain three to four months, actii'iti.. esiimated at around £IOO.000. Whilst this current Icvel of reserve5 exc¢¢ds Trustee polic!.. this arose during the pandcmic ii.herc a significant reduction in demand for clubs and actiN'itics look place and a number of ke! eienls cancelled "I"he e.i¢es5 resenes shall coniinue io be uiilised in the forthcoming financial periods in cngaging additional staff to furthLr thL actii'itiLS and scn'iCLS of .4UBSU. FUTURE PLANS In 202412). AUBSU will prioritise= I. Co-creation of a reviscd Strategic Plan with clear KP15. ensuring studcnt nccds forni thc basis of that plan: 2. Strcngthcning govcrnancL and prLparing for trf)ssiblc Charitt- Incorporation- 3. Rcbuilding thc coursL rcp s%'stctn with tt¢r rccruittncnt. training. and digital fcLdback tools. 4. Developing the refreshed brand and ensuring it conrinues its roll out. 5. Establishing a neiv fonnal Partnership Agreement ivith AUB ensuring the SIT becomes a simpler organisalion to operate within and 6. Reviewing ol¢er roles. M'orkloa& and lega¢!, handoi'er sl'siems. STRUCTURE, GOVERNAiYCE AND lAAGEME1yT Governing document The Arts unl.¢r1l1, Boumctnouth Studcnls, Union {.4UBSU) is a charits. registcred ii-iih ihc Charilies Comtnission sinc¢ 12 June 2013 and is an unincorporated entity.. It is goi'erned by its Constitution. M'hich outlines Ihe ideals and aims of the Union and how these are oversecn bN' the Board of Trustccs. The Board of Trust¢e5 is respon5iblc for dirccling thc stratcgic and tinancial actii"itics of thc organisation. ensuring tliat any actions are in line i%'iih the current Siiaiegii Plan and fall li iihin ihe definilion of charithble purpose. -lThe Iloard ma!. exerLise all the powers of Ihe Union. subjcct to thL Education .4ct. Constitution and B!".Laii"s. Pagc 2
ARTS UNIVERSITY BOURNEMOUTH STUDENTS. UNION REPORT OF THE TRUSTEES For The Year Ended 31 Jul . 2024 STRUCTURE, GOVERNANCE AND lAiNAGEMENT Recruitment and appointment of new trustees The Sabbatical OlliLcr positions of Studcnt5' Union Prcsident and Vice-Pr¢sidcnt arc ex-01ClO Trustces and arc clectcd b!, the student bod), ¢'try )ear b). se¢ret balloL io serve a one-)"ear terni_ "I"he! ma! be re*lected for a further one-l'ear lern). 'lThe remaining Iruslees are cithLr studcnts or Lxtcrnal mcmbLrs of thc public. Thc comtrt)sition of thc Board is as folloS.. No morc than ttN'o Sabbatical Trusiccs No morc than four Student Tru5tces No more than ten External Trustees No morc than on¢ Unii'crsit). Trustcc Organisational structure 'l-he 'l-ruslees are requir¢d to hold a minimum of three meelings per aLademiL }"ear ai which ¢hei agree the broad slralegN' and areas of activity for the Union and ovcrsLC lis pcrforniancc and financcs. ThL Board considcr thcinsclvcs to bc thc onlv kcN' Inanagcmcnt. The executive committee The Executive Committee consists of students elected to represeni Iheir cohorts. Its responsibilities include oi'ersight of the Students, Union finances and approTr"al ot cxp¢nditurc aboi"c £?.iOO and bcloii" £i.OOO' organisation of student-l¢d cainpaigns and events- representation of relevant cohorts,. and deTr'elopmeni of the ljnion's strdiegic aims. 'l-he members of ihe Commiiiee are as folloii"s". Thc PrLsidLnt 'l-he Vice-presidenl BIJCJ Coordinator lup to nvo] C'.ointnunity' Otlicer Disabilities oificer Evcnls Otficer Gend¢r F.qualities ol¢er Grccn oificcr Iniernalional ol¢er LGBT+ Officcrs {up to N".0) Maturc and Postgraduatc 0]Cer Minorits. Ethnic Officer Neurod].rgcnl Ofticcrs lup to 01 Raising and CJlN'ing Officer SocictiLS oificLr Spons ol¢cr Induction and training of new trustees All trustees are proTr'ided ii'iih a oneIOne meeting and an induciion pacL ivhich includes a cop! of Ihe Tn]siee Handbook and the current Strategic Plan. Ncw Trustces arc proi.idcd i1.ith 5UPPOrt from staff and current Tru5tecs. In particular. iiicotlling Sabbatical Trustee5 are given a handoi'er b. the ouigoing Sabbatical Trustees and AIJBSIJ staff. All .1 rustees are asked to fill out a Skills Mairix and Register of Inieresl upon their appointmenL to estsblish the skills and abilities ofihe Board as a 'hoIc. This in turn facilitatLS th¥ idLtitification of rclLvatit training. ci"Lllts and confcrcnccs to aid thcir dcvclopmcnt as mcmbcrs of the Iloard. Students, Union staff are alwa)'s on-hand to providc rclci.ant information and 5UPPOrt for Truslecs including understanding meeting papers and reports, and advice regarding their role and res]x)nsibilities. Wider network AUBSII is currentlw a tn¢mbcr ot thc National Union of Studcnts. a voluntar)" Tnembcrship organisation that confederates 600 Students, Unions naiionall).. Pagc 3
ARTS UNIVERSITY BOURNEMOUTH STUDENTS. UNION REPORT OF THE TRUSTEES For The Year Ended 31 Jul . 2024 STRUCTURE, GOVERNAINCE AND TrIANAGEMENT Risk management The Studcnt5' Union utilisc5 UniTr"crsits' staff as adTr"isors in ordcr to ensure that operations retnain M'ithin the policie5 and proccdurcs of the UniversitTr'. or all relevant activities and ei'enis held bv AUBSU. risk assessmenis are Carried out and safelN. measures pul in place lo reduce any risk of datnagc to propLrt)': rcputation or stabilits. of thc organisation. Financial risks are reduced bv haTr'ing effeciii'e conrrols in plaee. This includes a limit in &ipenditure approi'al as follows.. - Amounts up to £2,500 shall be approved bs. two signatories of the Union. ii'here at least one sienature must be by a Sabbatical Officer. Amounts above £2.51K) and below £5,(K)O shall be approi.ed h" the F.xeculiie Commiiiee, reflecied in the minutes of the meeling and signcd off b). Union signatorics. Amounis above £5.000 shall be approved bi. the Board of Tn)ee& reflecied in (he minutes of the meeting and signed off bv lJnion signatories. The Union rcceiTr"es a monthlw" tinancial rcport in order to continuousl!- tnonitor incomc and cxpcndilure, An oN'crvicw of this rcport is included in the papers for meetings of the Board of Trusiees. 'l-he Llnii'ersilN, has committed to being a cash-free campus and so all Union Lash iransaciions hai'e been disconlinued. including pell). cash. If an). cash paymcnts do happcn, thc). arc takcn M" thc Union and dclii'crcd to. chcckcd. and paid in bN' thc Union's financial contact. REFERENCE AND ADMINISTRATtVE DETAILS Registered Charity number 115?400 Principal address Arts Unii'crsits." BournLtnouth ern 14artOW Wall]sdo'll Poole Dorsei BH125HH Trustees Adrian Comiack (resigned 6.2.?0241 Stclla Kajombo TrustLL IrcsignLd 4.12.2023) I lannah Malone (resigned 12.7.20241 Edison Earl (resigned 12.7.20?41 Helen Manlc). (appointed 1.9.20231 Darren Ta)'lor (appointed 1.9.20231 Stuart Atllclk lappointcd 1.9.20231 (resigned 30.12.2023) Shaun l)aly (appoinied 19 2023) Emma Duncan Anais 1 liller'l ruslee (resigned 31.7.2024) Zuza ParczLlI'ska {rLsignLd 31.7.2024} Kevin Hough (appointed 1.9.20231 {resigncd 9.4.2024) Nikki Williams (resigned 7.2.20241 Gabriellc Parker (appointed 1.7.20241 Beihan).. Evans lappointed 1.7.20241 (resigned 31.3.2025) David Stock {appointed 8.12.20231 (resigncd 30.11.2024) Independent Examiner Schofields Chartcrcd Accolintants Unit l. St St¢phens Court 15 - 17 St Siephens Road Bournctnouth Dorsei BH2 6LA Pagc 4
ARTS UNIVERSITY BOURNEMOUTH STUDENTS. UNION REPORT OF THE TRUSTEES For The Year Ended 31 Jul . 2024 REFERENCE AND ADMINISTRATtVE DETAILS Bankers Llol'ds Banking Group plc 45147 Old Christchurch Road Bourncmoiith Adi'iser5 Durine the reporting )'ear ended 31 Jul!. 2024 the follom'ing i%'ere adi'isors to AUBSU.. Jon Renl'ard - lJniTr'ersiTh' Adi'isor (from 13 Januan. 20221 Elizabcth HiilbLrt- Financial Advisor Ifrom 9ih Jul%" 2019) BACKGROUND INFORMA TION Organi%atii)n also known as- AL114SU 30-May-2025 ApproTred bs, ordcr of the board of trustees on ............................................. and signed on its bchalf bv.. Signature: 6.P6irkg . Emalli 'gpar.ker@aut>.ac..uk........... Gabricllc Parkcr- Trustcc Pagc i
INDEPENDENT EXAIIIINER'S REPORT TO THE TRUSTEES OF ARTS UNIVERSITI, BOURNEMOUTH STUDENTS, UNION Independent examiner's report to the trustees of Arts Unii'ersitv Bournemouth Stsdents, LTnion I reporl 10 the charilj Irustees on m). examinaiion ofthe a¢ioun(s of Anb Uniiersit!" Iloumemouih Siudents, Union (the "I rusll Cor the year ended 31 Juli, 2024. Responsibilities and b8sis of report As th¢ chariti. ttU5tC¢s of thc Trust N'ou are rcspKbn5iblc for thc prq)aration of thc accounts in accordance Trvith the requirctnents of the Chariiies Act 2011 I'the Aci'}. I report in respect of mTr' examination of ihe-l rusl'5 accounts carried oul under Section 145 ofihe Acl and in cam'ing out MN exaininalion I havc followcd all applicablc Dircctions gii'cn b). thc Charits- Comtnission undcr Scction 145(i)(b) of thc Act. Independent examiner's statement Since l'our charity s gross income cxcccdcd £?50.0 l.our ciatniner tllU51 be a tncTnbcr of a listcd b(3". I can confirtn that l ain qualificd to iindertake the examination because l am a member of the Ins(liu of Chartered Accountants in England and Wale& which is one of the lislLd bodics. I havu cotnplctcd In!. cxamination. I confirni that no matcrial mattcrs havc comc to MN. attcntion in conncction with thc cxamination gii'ing me caiise io believe that in an! maierial respeci- accounting records wcre not kcpt in rc5PCCt of thc Trust as rcquircd b)" Section 130 of the Act. or the accounts do noi accord H ith those records: or thc accounts do not compls" '1th thc applicablc rcquircmcnts concerning the torm and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than an!" requiremeni thai the accounis giiwe a true and fair view ivhich is not a tnattcr considLrcd as part of an indLPLndLnt cxaininaiion. I havL no concLrnS and havL comL across no othLr mattLrs in connLYtion ii.ith thc cxamination to which attcntion should bc drawn in this repon in oidei to enable a proper undersianding of the aL¢ounis io be reached. Mr P J Schoticld ICAEW SLhoficlds Chartered Accountants Unit I, St StLphLns Court 15 - 17 Si Siephens Road Bournemouth l)orsei BH2 6LA Dale= 2 June 2025 Pagc 6
ARTS UNIVERSITY BOURNEMOUTH STUDENTS. UNION STATEIENT OF FINANCIAL ACTIVITIES For The Year Ended 31 Jul . 2024 2024 Total funds 2023 Total funds Unrc5triclcd fund Restricted funds Notcs INCOME AND ENDOWMENTS FROM Donations and ILgaciLs 288.084 288.084 225,407 Charitable activities Studcnl SOLitti¢s and clubs CJil'e it a go Studcni led actii'ities Democrac)w and representation 13.241 1.525 13.241 1,525 609 7.048 160 326 66 609 Other trading a¢lii'ilies InTr'cstmcnt incomc 15.501 6.991 15.501 6.wl 6,906 Total 311.18) 14.766 325.951 239.913 EXPENDITURE ON Raising funds 47.809 47.809 41,996 Charitable aetivities Stiident societies and clubs Gi*¢ it ago Stiident led aciiTr'ities NUS extra I)emoCrac and representation Studcnt cxpcricncc Campaigns 53.587 31.969 53.587 31,969 58.506 16,244 74.327 65,071 56.204 33.903 23.083 38.451 13.717 46,347 33.442 37,900 58.506 16.244 74.327 65.071 56.2( Total 318.161 85.5)6 403,717 268.839 NET INCOMEI(EXPENDITURE) Transfer5 between funds (6.9761 70.790) (70,790) 70.790 (77,7661 {28:926} 17 Net movement in funds {77.766) (77.7661 {28,926) RECOiNCILIATION OF FUNDS -] olal funds brought lorn'ard 204.588 3,104 207.692 236,618 TOTAL FUNDS CARRIED FORWARD 126.822 3.104 129.926 207.692 Thc notcs form part of thc5c financial statemcnts Pagc 7
ARTS UNIVERSITY BOURNEMOUTH STUDENTS. UNION BALANCE SHEET 31 Jul 2024 2024 Total funds 2023 Total funds Unrc5triclcd fund Restricted funds Notcs FIXED ASSETS Tangiblc asscts 13 13.607 13,607 11,207 CURRENT ASSETS Stocks Debiors Cash at bank and in hand 14 15 272 35.485 84.462 272 35.485 87,566 40,570 166.228 3.104 120.219 3.104 123,323 206,798 CREDITORS Amount8 falling due within one vear 16 (7.(K141 (7,004) (10,313) NET CURRENT ASSETS 113.215 3,104 16,319 196,485 TOTAL ASSETS LESS CURRENT LIABILITIES 126.822 3,104 129.926 207,692 NET ASSETS 1?6.822 3.102 1 ?9.926 207.692 FUNDS lJnrestricted funds Restricted tunds 17 126.822 3.104 204,588 3.104 TOTAL FUNDS 129.926 207,692 30-May-2025 The tinancial 5tatctnents M'cre approv¢d b)" thc Board of Trustccs and authorised for issue on ............................................. and M"'cre 5igncd on iis behalf bN': Signature: 6 Papke Signature: Darren Ta)'I&m•trrent1968@llve.cO.uk Thc notcs form part of thc5c financial statemcnts
ARTS UNIVERSITY BOURNEMOUTH STUDENTS. UNION NOTES TO THE FINANCIAL STATEMENTS For The Year Ended 31 Jul . 2024 ACCOUNTING POLICIES Basis of preparing the financial statements Thc financial stat¢tn¢nts ol. the chariN". Ivhich is a public bcnefit cnliti" undcr fRS 102. have becn prepared in accordancc with the Charities SORP {F'RS 1021 '.4ccouniing and Rew)rting b! Charities". Sthtemeni of Recommended Practice applicable lo charities prLparing thuir accounts in accordancc ii.ith thc Financial Ruporting SLqndard applicablL in thc UK and Rcpublic of Ireland (FRS 1021 lefrTective l JanuaTh" ?0191'. F inancial Reporting Standard l O) "I"he F inancial Reporting Standard applicable in thc UK and Rcpublic of IrLland' and thc Charitics Act 2011. ThL financial statctncnts haN'c bccn prcparcd undcr thc historical cost convcntion. Thc charitw is registered in England and Wales and 15 unincorporated. Thc address of ihc principle office is Arts University Bournemouth. Wallisdomm. Bournemouth, DorseL BHI 2 SHH. Critical aceounting judgements and key sources of estimation uncertaintv In thc application of ihc accounting policii& thL Trustcis arc rLquircd to Inakc judgctncnts. cstiinalcs and assutnptions about thc cam'ing % alue cil-asseis and liabililies that are noi readil! appareni from other sourles. "l-he esiimates and underl! ing assumplions are based on hisiorical experience and other factors thai are considered to be releant. Adual results maN, differ from these cstimatcs. The cstimatcs and undcrlTr'ing a55UTllPtions are rcviewcd on an ongoing basis. Income All income is recognised in the 8taiement ofFinancial Actii ities once the charits. has entitlement to the funds: it is probable that thc incotllL Ii'ill bL fccLivcd and thL atnount can bc mL&sufid riliabli". DonatLd SL Th'iccs or facilitics arL rLcognisLd ii"hLll thL Union has control oi'cr thc itLm. an).. conditions associatcd M'"ith thc donated item ha*e been met. Ihe receipl ofeconomi¢ benefit from an! use ofihe Union of¢he item is probable and thal economic benefit Can be measured reliabli,. On receipt. donated professional seTh'ices and donated faciliiies are recognised on the basis of the value to the Union H.'hich is the atnount that thc UT]ion 'OU]d hai'c paid on th¢ opcn tnarkct to obtsin ihc scrviccs or facilities: a corrc5ponding noUn1 is then re¢ognised in expenditure in ihe period ofreceipi. -l-he Union ails as a banker for its" sports clubs and wcieiies. in¢luding ihe Raise and Gil'e {RAGI so¢iely. Whilst ihose sluden¢ groups activitics arL opcratcd m.ith a high dLgrLY of auionoin!". ultiinatLI!" thc Trustccs hai.'c control oi'cr thosc activitics. Thcrctorc. the contributiOll5 Irom thc sports and socicts" tllCTnb¢rs arc rccongised as rcstricted incomc in the Statctnenl ot Financial ActiN'ities on a receil'able basis. Funds that are rdised for charitt. bi. siudent groups that are deposited with the lJnion are not recognised as incomc. a5 th¢ Llnion is acting onl!- as an agcnt= such funds arc held within other creditors until paid over to the recipient charities. Expenditure LiabilitlLS arc rLcogniscd as cxpcnditurc as sn as thcre is a Icgal or constructii-c obligation committing thc charitv to that expendilure, il is probable iha¢ a iransfer ofeconomic benefils li ill be required in seiilemenl and the amouni ofihe obligalion can be measured reliabl}. Expendiiure is accounied for on an aecn]als basis and has been classified under headings that ageregate all cost rclatcd to the categor)". whe costs cannot bc directl!" attributed to particular headings ihe)" liavc been allocated to actiTr'ities on a basis consistent with ihe use of resources. Tangible fixed assets Dcprcciation is provid at thL follom'ing annual rdtcs in ordcr to writc off cach assct ovcr its cstitnatcd uscful lifc. Fixturcs and fittings Cotnputcr equipment 150/• on rlducing balancc 25Q/¢J on cost All fixed asscts arc initialli. mcasured at C051. Stock5 Sio¢ks are valued at the I0.er of cosi and nei realisable i'alue. after making due alloii'ance for obsolele and Slo moving items. Taxation Thc charit! is cxcmpt from tax on ils charitablc actii'itics. Fund aeeounting Unrcstrictcd fund5 can be uscd in accordaT]CC With the charitablc objectives at the discretion of the irustecs. Rcstrictcd funds can onls. bu ud for particular rcstrictcd purpo-S ii.ithin thc objccts of thc charits,. Rcstrictions arisc whcn specified bN' the donor or when funds are raised for particular restricted purposes. Pagc 9 continucd...
ARTS UNIVERSITY BOURNEMOUTH STUDENTS. UNION NOTES TO THE FINANCIAL STATEMENTS- continued For The Year Ended 31 Jul . 2024 ACCOUNTING POLICIES- continued Fund aeeounting urther explanation of ihe naiure and purtM)se of each fund is included in ihe no5 to the financial slatemenls. Debtors and creditors receivblelpyable within one year Dcbtors and crcditors with no statcd intcrL-St ratc and rcccii'ablc or pai.ablc ii"'ithin onc vcar arc rccordcd at transaction price. Cash at bank and in hand Cash at bank and in hand includes cash and short tcrm highl!" liquid ini"esttnents with a short maturity" of thrc¢ tnonths or less from the date of acquisition or opening of the deposit or similar accouni. Hirt purchase and leasing ¢ommitments Rcntals paid undLr opLraiing Icascs arc chargcd to thc Statctncnt of Financial ActiN'itics on a straIt linc basis ovcr thc pcriod of the lease. Pension costs and other post-retirement benefits The £hariTh' operaie.% a defined coniribution pension scheme. Contributions pai'able to the charit)w's pension scheme are charged to the Statement of F.inancial Actii'ities in the pcri(NJ io ii-hich thc!" relate. Going concern -I'he Llnion has cash resources and no requiremeni for exiemal funding_-I"he-I rusiees haN'e a reasonable expeitalion Ihat the Union has adcquatL rcsourccs to continuL in opcrational cxistLtiCL for tlic forcscLablc futuru. It has bccn concludcd that thcrc arc no malerial uncerthinties and ihai il is appropriaie for ihe financial staiemenis to be prepared on a going concern basis. Financial instrurnents All financial assets and liabilities are recognised as basic financial instruments ii'hieh are initiallv recognised at transaction value and 5ub5equentli' mcasurcd ai ihcir scttletnent i.alue DONA TIONS AND LEGACIES 2024 2023 Donated se.]CeS and facilities AIJB Block grani 12.750 275,334 12.750 212,657 288.084 225,407 All income from donations and leeacies is unreslricted in both the current and previous l'ear. OTHER TRADING ACTIVITIES 2024 2023 Fundraising cN'cnts Mcrchandisc 5alcs 12.654 2.847 6.48) 421 15.501 6.906 All incotne from othcr trading actiTritics is unrcstricied in both the currcnt and prcTrious ear. PagL 10 continucd...
ARTS UNIVERSITY BOURNEMOUTH STUDENTS. UNION NOTES TO THE FINANCIAL STATEMENTS- continued For The Year Ended 31 Jul . 2024 INVESTMENT INCOME 2024 2023 Dcp051t account InteSt 6.991 All incotne from ini'cstmcnts is unrestrictcd in thc currcnt I'car (20?3.. Nlal. IIYCOME FROM CHARITABLE ACTIVITIES 2024 2023 Studcnt 50cieiies and clubs Studcnt led activitics GiTre ila Totsl activilics 'l-otsl actiTritics Membership Equiptnent and resources Competitions and other income Advertising Events 11.840 851 63 11.840 958 63 5,375 1.499 138 66 522 107 487 1.525 502 2.)14 -i25 609 15,375 7,600 -l-ola1 income from charitable aciiTr"ilies amounied £15.375 {2023= £7.600} of which £609 {2023: £392) was unreslricled and £14,766 (2023.. £7,208) il'as rLstrictLd rcvcnuL funds. CHARITABLE ACTIVITIES COSTS Dircct Cosis (see notc 71 Support costs Isee note 8) Totals Student socictics and clubs Gi*e it ago StudLnt lcd actiN'itics NUS extra Democrac). and representation Studcnt exp¢rienc¢ Campaigns 37,737 17.703 34,729 13.074 36.284 31.783 26.085 15.850 14,266 23.777 3.170 38.043 33.288 30.119 53.)87 31,969 58.)06 16,244 74,327 6),071 56,204 197.39) li8.513 355,908 Total costs of charitable actii'ities ivere £355.90812023= £226.843) of ivhich £270.352 (2023= £169,857) was unrestricted and £85,556 (2023.. £56.9861 il'as rLStrictLd incotnL funds. DIRECT COSTS OF CHARITABLE ACTIVITIES 2024 2023 Trustces, rctnuncration ctc Staff cosis Equiptnent Membership Activitics and cN'cnts Competition F.ntry VcnuL hirL Coaching and instruciors Miscellaneous AdTr'ertising Printing Trai'cl and 5ub5iStcncc Studeni Union Presideni cos Student Union VICL PrLsidLnt costs 42.819 95,819 18.714 1,026 4.220 543 6.827 10,193 677 2.384 58 999 1,363 1.445 40.597 48,086 7.487 1,568 1.670 1,360 i.131 5,833 1,924 1.798 613 971 372 Carricd forw'ard 187.087 117.410 PagLII continucd...
ARTS UNIVERSITY BOURNEMOUTH STUDENTS. UNION NOTES TO THE FINANCIAL STATEMENTS- continued For The Year Ended 31 Jul . 2024 DIRECT COSTS OF CHARITABLE ACTIVITIES- continued 2024 2023 Brought forward 110spilalili' C.onfLrcnccs and cvents -] raining WLbhosting Aftiliation fecs 187.087 172 117,410 519 i40 2,155 50 8.100 154 9.982 197.395 128.774 SUPPORT COSTS Training and nelivorking Inforniation technolo. Management Finance Studeni societies and clubs Gii'c it a go Studeni led aciii'ities NIJS extra Dctnocrac>' and represcntation Sttident experience Campaigns 11.696 l O.)27 17.547 2.340 28.073 24.i6A 241 217 361 48 578 506 4)8 836 753 1,254 167 2.007 1,756 l.i89 2,022 1,821 3,034 405 4.85) 4,248 3.843 116.973 2.409 8.362 20,228 Goi'ernance costs Rcsourccs Othcr Totals Studcnt socictics and clubs Gi*e il ago Sttident led aciii'ities NUS ¢Atra Democrac). and representation Studcnt experience Campaigns 491 442 737 98 1.178 1.031 933 46 41 69 518 465 775 103 1,241 1.086 982 15.850 14,266 23,777 3,170 38,043 33.288 30,119 97 88 4.910 461 5.170 158,513 A¢tivit)' ManagcmLnt inanie Informaiion technolo. Training and nctworking Resources Other Governance costs Ilasis of allo¢aiion BasLd on timc spcnt Ilased on lime spent Based on time spent Based on time spent Based on time spent Ba5cd on timc spcnt Ilased on lime speni PagL 12 continucd...
ARTS UNIVERSITY BOURNEMOUTH STUDENTS. UNION NOTES TO THE FINANCIAL STATEMENTS- continued For The Year Ended 31 Jul . 2024 SUPPORT COSTS - continued Support Costs, includcd in the abovc. arc as folloi%'s= Student sociclics and clubs Student led actilI1¢S Giwe it a go NUS exlra Trustees. remuneration elc Wagcs Donated rent and scrviccs AdN'ertising Licences Trustee and committee meetings DcprLciation of tangiblL and heriiage asseis Bank chargcs Website ccis1S Training and conferences Oftic¢ cquipment Posiage and siationerv Sundri¢s Independent examiners fees 1.070 6.668 1.274 1.361 727 22 964 6.(K)2 1.147 1.224 65) 20 ,606 10.003 1.913 2.040 .092 34 214 1.334 255 272 146 574 241 836 2.022 436 55 46 518 515 217 753 1.821 392 io 41 465 859 361 ,254 3.034 654 83 69 775 114 48 167 405 87 103 l i.8iO 14.266 23.777 3,170 2024 2023 Democrao. and repsentalIOn Studunt experience Total actilI1¢S Total activilies Campaigns Trustces, rctnuncration ctc Wages Donated rent and scrviccs AdN'ertising Liccnccs -] ruslee and commiiiee tncctings l)epre¢iation ofiangible and heritage &sseis Bank charges Website cosis Training and confcrences orri¢e equipment Postagc and stationcry Sundries Indcpcndcnt LxaminLrs fLCS 2.)69 16.00) 3.060 3.26) -746 54 2.248 14.0( 2.678 2.856 -i28 48 2.034 12.671 2.423 2.584 1.383 43 10.705 66.687 12.7iO 13.602 7,277 226 10,149 40,987 12,750 2,866 3.666 ,374 i78 2.(K>7 4.8)) l.(M6 132 .202 i06 -756 4.248 915 116 97 1.086 1.088 458 1.589 3.843 828 IO) 88 982 5.726 2.409 8.362 20.228 4.358 5)2 461 5,170 2,843 404 9,287 7.270 2,388 726 122 4.470 1.241 38.043 33.288 30.119 158.513 98.069 TRUSTEES, REMUNERATION AND BENEFITS 2024 2023 Trustces, salaries Trustees, pension contribuiions to mone!. purchase schemes 52.403 1,121 50.251 495 i3,524 50.746 PagL 13 continucd...
ARTS UNIVERSITY BOURNEMOUTH STUDENTS. UNION NOTES TO THE FINANCIAL STATEMENTS- continued For The Year Ended 31 Jul . 2024 TRUSTEES, REMUNERATION AND BENEFITS- continued During the year ihe charits, paid the following trustees, remvnerdtion= Gross Pa 2024 Pension Coniribulions 2024 Gross Pension Pay Conlribulions 2023 2023 MilLS Bagarinao Vce Marston Ed Earl Hannah Malonc Gabrielle Parker Bcth Evans Prcsidcnt .4cadLtllic YLar 202?123 Vic¢ Presideni Acadctnic Year ?022123 President Academic Year 2023124 Vic¢ President Acadctnic Year 20?3124 President SIJ Academic Year 2024125 Prcsidcnt StudLtit EipLricncL 202412) 22,713 23.206 2,166 2.166 495 23,794 23.999 2.305 2.30) 535 541 45 52.403 50.251 495 -l-he President and Vic¢ PresidenL as elected during the i"ear. were ihe onlN'-I rUSS to re¢eiN'e an). remuneralion and Ihis was for thcir rcprcsLntaiion. catnpaigning support. tnanagcrial and opcrdtional ii.ork and distinct froin thcir Trustccs rcsponsibilitics and as auihori/.ed b) the AL114SU governing documeni. No oiher-l rusiees received remuneraiion for their ser%"ices. "lthe Ili)ard of"1 rusiees ¢i)nsidei themselves lo be ihe Key Manageinent Personnel. The remuneration of Ke!. Manaeement Personnel ioialled £53.i2412023.. £50,746)- Trustees, expenses -l-he ieimbursemenl of-i-ruslees expenses M'as as folloil's: 2024 2023 2024 2023 Trai'el and subsistence Events 142 153 774 142 927 io. STAFF COSTS 2024 2023 Wages and salaries Other pension costs 214.909 1.121 139.324 495 216.030 139,819 Includcd avu arc rcchargcd costs for salariLS: cmplol'crs national insurancc and pcnsion costs of £1 iO.794 (2023.. £88,117) for slalTM.ho are emploN'ed bN' Afls Unli ersili" 14oumemouih IAUIII bul ulilised bi AU14SU for events. sports and ocfiie assistance. Thc avcragc numbcr of siaff cmplo)'Ld through ALIB but uscd bi- AUBSU is 712023.. 41. The average monthly number of emplol'ees during the l'ear was as follo'S.. 2024 2023 Trustecs No employees received emoluments in excess of £60.(M)O. PagL 14 continucd...
ARTS UNIVERSITY BOURNEMOUTH STUDENTS. UNION NOTES TO THE FINANCIAL STATEMENTS- continued For The Year Ended 31 Jul . 2024 li. COMPAIL4TIVES FOR THE STATEMENT OF FINANCIAL ACTtVITIES Unrcstrictcd fund Rcstrickd funds Total funds INCOME AND ENDowlE1YTs FROM Donations and l¥gaciLs 225.407 225,407 Charitable activities Studcnl societies and clubs CJil'e it a go Studcnt led actii'ities Democrac). and representation 7.048 160 7.048 160 326 66 326 66 Other trading a¢lii'ilies 6.906 6,906 Total 232.705 7,208 239,913 EXPENDITURE ON Raising funds 41,996 41.996 Charitable activities Studeni societies and clubs CJll'e it a go Studcnt led actiTr'ities NIJS extra DetnoLrac)' and rcprescntation Studeni experience c.ampaigns 33.903 23.083 33,903 23.083 38.451 13,717 46.347 33,442 37.900 38.4) I 13.717 46.347 33.442 37.900 Total 211.853 i6.986 268.839 NET INCOMEI{EXPENDITURE) Transfers betM'een funds 20.8)2 49.7781 (49.778) 49.778 {28,926) Net movement in funds (28.926) {28.926} RECONCILIATION OF FUNDS Total funds brought forn'ard 233.514 3.104 236.618 TOTAL FUNDS CARRIED FORWARD 204.i88 3.104 207,692 12. IINDEPENDENT EXAMINERS FEES 2024 2023 Independent Examiners fees for the examinaiion of the financial staiements i,170 4,470 5.170 4.470 PagL 15 continucd...
ARTS UNIVERSITY BOURNEMOUTH STUDENTS. UNION NOTES TO THE FINANCIAL STATEMENTS- continued For The Year Ended 31 Jul . 2024 13. TANGIBLE FIXED ASSETS rixtures Computer equiptnent tirtings Totals COST At l August 2023 Additions 4.945 22,540 8.126 27,485 8.126 At 31 JulTr' 2024 4.945 30.666 35.611 DEPRECIATION At l August 2023 Charge loi Year 3,448 224 12.830 5,502 16,278 5,726 At 31 Jul). 2024 3.672 18,332 22,004 NET BOOI& VALUE At 31 jul 2024 -273 12,334 13,607 At 31 July 2023 .497 9,710 11,207 14. STOCKS 2024 2023 Merchandise for resale 272 15. DEBTORS: AIIIOUNTS FALLING DUE W'ITHIN ONE YEAR 2024 2023 -I'he Arts LIni'ers1lV 14ournemouth Othcr dLbtors PrepaN'menis and accrued income 26,524 37,930 497 2.143 8.961 3),485 40.570 16. CREDITORS: AMOUNTS FALLING DUE WITHIN OIYE I'EAR 2024 2023 Social securih. and other teS Other creditors Accruals and def¢rted income 317 189 6,498 102 10,211 7.(}4 10.313 PagL 16 continucd...
ARTS UNIVERSITY BOURNEMOUTH STUDENTS. UNION NOTES TO THE FINANCIAL STATEMENTS- continued For The Year Ended 31 Jul . 2024 17. MOVEMEL¥T IN FUNDS Net Transfers At 31.7.24 Ai1823 in funds runds Unrestricted funds Gcncral fund 204.i88 (6.976) {70,790) 126.822 Restricted funds Social Sporting Activitics Clubs and Societies 3.104 (30.4441 140.3461 30.444 40.346 3.104 3.104 70.7) 70,790 3,104 TOTAL FUNDS 207.692 77.7661 129.926 Nct moi'cmLnt in fund& includcd in thc abovc arc as folloiys.. Incoming rcsources Resources cxpended Movement in funds Unrestricted funds General fund 311.185 (318.161} (6,976) Restricted funds Social Sporting Activitics Club5 and Socictie5 1.525 13.241 {31.969) i3.587} 130.444) 40.346) 14.766 185.5561 {70.790} TOTAL FUNDS 3? j.9 j I 403.717) 77.766) Comparatives for movement in funds Nct oi"cment in funds Transfcrs bets4."cen funds At 31.7.23 At 1.8.22 Unrestricted funds Gcncral fund 233.i14 20,8)2 {49,778) 204.i88 Restricted funds Social Spolling Activities Cliibs and Societies 3.104 (22.9231 26.8)51 22.923 26.855 3,104 3.104 149.778) 49,778 3.104 TOTAL FUNDS 236.618 28.9261 207,692 PagL 17 continucd...
ARTS UNIVERSITY BOURNEMOUTH STUDENTS. UNION NOTES TO THE FINANCIAL STATEMENTS- continued For The Year Ended 31 Jul . 2024 17. MOVEMENT IN FUNDS- continued Comparative nei mol'ement in funds. included in the aboi¥e are as folloivs= Incoming rcsourccs Resources cxpcndcd Moveinent in funds Unrestricted funds General tund 232.705 (211.853) 20,852 Restricted fud5 Social Sponing Activities c.lubs and SociLtiLS 160 7.048 123.083) 33.903) (2?.923) 26.855) 7.208 56.9861 49,778) TOTAL FUNDS 239.913 268.839 28.926) Restricted Funds repre$en¢: Gil'c it a go -A programtne funded b). the National LotteTh' through thc English Sports Council 14'ith thc aim ot incrcasing participation in sport to those 'hO do not re£ularl!' panicipaie in spon. through free or subsidised sessions. Clubs and societies -Represenls studeni group balances held bi" indi%'idual societies are spenl at their discretion subject to the Union's n]Ics. Transfers be'een funds Transfers from iinresiricied funds to the Social Sportine Aaii'iiies and Clubs and Societies restricted funds were made during the financial )'car to covcr thc dcficils arising on thc rcspcctiTr"e actiTr¥itics. 18. RELA TED PARTY DISCLOSURES AUBSU is in rccLipt of a block grdnt from thc Arts Unii-crsiti. Bourncmouth (AUB) of £275,33412023.. £212.6571. Of thc grant £124,540 (2023". £124.540) 'aS ph) sicall! receiied with Ihe residual £150.79412023= £88.117) relained io coi.er recharged Costs for salaries. emplol'ers national insurdnce and pension cosis where the staff are emplos'ed though AUB but used bsw AIJBSIJ for various C.¢15. sport5 and assistance. ALIBSU occupies thc Arts UniTr"crsit!" Bournemouth building on a rcnl-free basis under an infortnal arrangeinent. The Trustees have 'a]U¢d the donated reni and accouniing ser%"ices iviih reference io marke¢ r¢n¢s and cosis ai £12.750 (2023". £12:7iO). Ai 31 JUIN 20?4, Ihe Ans Llniyersil!. 14ournemouth oi%"ed ihe charil!" £26.524 (2023.. £37.930}. l-he debt is unsecured, inleresl free and rcpa)'ablc on dLmand. 19. CONTROLLING PARTI, The lJnion is controlled bTr' the Ex'ecuiiTr'e Committee M'hich is subjeci io democratic election bs.. the voting membership of the Union. Thc ultimatc control of thc Union is vcstcd undcr thc constitution in thc mcmbcrship in Gcnural tnccting. Thcrc is no single controlling pafl!. Pagc 18
ARTS UNIVERSITY BOURNEMOUTH STUDENTS. UNION DETAILED STATEIENT OF FINANCIAL ACTIVITIES For The Year Ended 31 Jul . 2024 2024 2023 INCOME AND ENDOWMENTS Donation$ and legacies Donatcd scrN'IcLS and facilities AUII 141ock grani 12,7iO 275.334 12.750 212,657 288.084 225,407 Other trading aetivities Fundraising cN'cnts Merchandise sales 12,6)4 2.847 6,485 421 15,501 6,906 Investment ineome Dcp051t account InteSt 6.991 Charitsble activities Membership Equipmcnt and rcsourccs Compelitions and other income AdN'ertising Eients 11.840 958 63 5,375 1,499 138 66 522 2.514 15.375 7,600 Total incoming resources 325.951 239,913 EXPELYDITURE Raising donations and legacies Mer¢handising cosis Fundraising cN'cnts 4.547 43,262 844 41.152 47.809 41,996 Charitable activities ruslees, balaries Wagcs .quipmeni Mcmbcrship Actii'itiC5 and ei'ents Competition Enty Venuc hirc Coaching and instructors Misccllanuous Ad¢[liS]ng Printing -] ravel and subsistence Studcnt Union PrcsidLnt costs Studcni Llnion Vicc Prc5ident costs Hospitalitt. Confcr¢nL¢5 and eTrents Training C.arricd fonvard 42.819 95,819 18.714 1.026 4.220 543 6.827 10.193 677 2.384 58 999 1.363 1.445 172 40,597 48.086 7,487 ,568 .670 .360 5.131 5.833 ,924 ,798 613 971 372 519 540 2.155 120,624 154 187.413 This page does not form part of the statutorn. financial slatcmcnts Pagc 19
ARTS UNIVERSITY BOURNEMOUTH STUDENTS. UNION DETAILED STATEIENT OF FINANCIAL ACTIVITIES For The Year Ended 31 Jul . 2024 2024 2023 Charitable activities Brought forward Wcbhosting AlIlatiOn fees 187,413 120.624 50 8,100 9.982 197.39) 128,774 Support eosts Management Trusiees, salaries TrustCCS' PLnsion contributions Wages Donatcd rcnt and scrviccs Advertising Licences Truslec and comtnittec meetings Fixtures and fiitings Compulcr cquipmcnt 9,584 1.121 66.687 12,7iO 13.602 7,277 226 2?5 5.501 9.654 495 40,987 12.750 2,866 3.666 264 116.973 73,402 Finance Bank charges 2,409 404 Information technology Wcbsite costs 8.362 9.287 Training and networking I raining and conlerences 20.228 7,270 Resource5 Office equipment Postage and stationcrN' 4,3)8 552 2.388 726 4.910 3,114 Other Sundries 461 122 Governance eosts Indepcndcnt examincrs fec5 5.170 4.470 -] olal resources expended 403.717 268,839 Net expenditure 77,766) {28.926} This page does not form part of the statutorn. financial slatcmcnts Pagc 20