2022-07-31-accounts - University Of Suffolk Students' Union

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

INDEX			Pages
Company information			1-2
Trustees report			3-6
Auditors' report			7-8
Statement offinancial activities-
( incorporating an Income and expenditure		account)
Conslidated Balance sheet			10
Company Balance sheet
Notes to the financial statements			12 —19
Consolidated Statement ofcash	flows		20

					Note	Unrestricted	Restricted	Total	Total
						Funds	Funds	Funds	Funds
								2022	2021
								6	6
INCOMING RESOURCES
Voluntary income:
University grants					14	364,851		364,851	383,801
Donated facilities					1e				12,550
Retail turnover						6,645		6,645	2,927
						371,496		371,496	399,278
Aclivilies forgeneraling				funds:
Rent and fees charged		to	trading
subsidiary
Freshers fair event						8,906		8,906
NUS extra card income						759		759	828
						9,665		9,665	828
Incoming resources	from			activities:
Sports &Societies income							12,192	12,192	2,258
Most active students
							12,192	12,192	2 258
Other Income:
HMRC Employment	allowance					4,333		4,333	1,629
Marketing fees						13,595		13,595	2,730
Sundry income						596		596
Grant received from	UoS					9,500		9,500
						28,024		28,024	4,359
Totalincoming resources						409,185	12,192	421,377	406,723
RESOURCES EXPENDED
Costs ofgenerating	Funds:
Commercial activities									1,581
Freshers fairevent
									1,581
Cost ofactivities:
Sports &societies expenditure							48,985	48,985	18,338
Most active students
Other activities					12	77,870		77,870	20,339
Rent and fees charged		to	trading
Sundry direct costs
						77,870	48,985	126,855	38,677
Governance costs:
Staff costs						317,287		317,287	275,978
Support costs:
Donated facilities					1e				12,550
General offic expenditure					13	27,256		27,256	47,335
Executive Committee	expenses				13	1,916		1,916	2,101
Trustee Board expenses					13
Marketing Department					12
NUS Extra					12
Corporation tax
Suffolk Union Services loan				wnte off
Deprecialion &other	costs:
Depreciation ofoffice equipment						5,171		5,171	835
						351,630		351,630	338,799
Total outgoing resources						429,500	48,985	478,485	379,057
Net incoming/(outgoing)			resources			(20,315)	(36,793)	(57,108)	27,666
Transfers between funds						(36,793)	36,793
Fund balances brought			forward			154,482		154,482	129,806
Fund balances carried		forward			16	97,374		97,374	157,472

	Notes		2022			2021
		E		E	8	E
Tangible Fixed Assets				13,348		14,499
Fixed Asset investments
				13,348		14,499
Current Assets
Stock		1,41	7		1,989
Debtors	7	17,403			20,281
Bank and cash		97,290			157,524
		116,110			179,794
Creditors:
Amounts falling due within one year	8	32,084			36,821
Net Current Assets				84,026		142,973
				97,374		157,472
Creditors:
Amounts falling due after one year
Net Assets				97,374		157,472
Financed by fund balances:
Unrestricted funds
General fund	16			97,374		157,472
Restricted funds	16
				97,374		157,472

	Notes	2022			2021
		f		f	6
Tangible Fixed Assets			13,348		14,499
Fixed Asset Investments			1		1
			13,349		14,500
Current Assets
Debtors	7	29,654		31,607
Bank and cash		91,584		147,278
		121,238		178,885
Creditors:
Amounts falling due within one year	8	19,471		27,235
Net Current Assets			101,767		151,650
Creditors:			115,116		166,150
Amounts falling due after one year
Net Assets			115,116		166,150
Financed by fund balances:
Unrestricted funds
General fund	16		111,096		166,151
Restricted funds	16		4,020
			115,116		166,151

ACCOUNTING POLICIES
(a) Basis of preparation
The financial statements have been prepared under the historic cost convention,		and	in
accordance with applicable United Kingdom standards, the Statement of Recommended
Practice: Accounting and Reporting by Chadties SORP 2015(FRS102) issued		in January
2015 and the Companies Act 2006.
(b) Incoming resources
All income, unless received for a specific or restricted use has been	credited to
a general accumulated fund.
(c)Resources expended
Liabilities are recognised as expenditure as soon as there is a legal	or constructive
obligation committing the Union to the expenditure. All expenditure	is accounted
for on an accruals basis and has been classified under headings that aggregate		all
costs related to the category.
(d) Governance costs
Governance costs comprise the costs associated with the governance arrangements			of
the Union which relate to the general running ofthe organisation as	opposed to	to those
cost associated with with fundraising or charitable activity.
(e) Donated services and facilities
University ofSuffolk provides the Union with office space and sports	facilities at	no
charge. As required by SORP 2015(FRS 102),the donation ofthese facilities is included
as an incoming resource and a matching outgoing resource within the statement		offinancial
activities at the trustees' estimate oftheir value to the Students Union.
Irrecoverable VAT is charge
(g) Tangible fixed assets and depreciation
Expenditure on fixed assets is capitalised and valued at historic cost.
Depreciation is charged on capital expenditure and is written off at 25% per annum
straight line on cost over the estimated useful life of the asset.
(h) Pension costs
Employees ofthe Company are invited tojoin a defined contribution	to a money
purchase scheme.
There was f210(8144 - 2021)outstanding contributions at the year	end. See note 8.
(t) Investments
Investments are stated at the lower ofcost and net realisable value.	All are held	in the	UK.
(j) Taxation
The company meets the definition ofa charitable company for UK corporation tax
purposes. Accordingly, the company is exempt from taxation to the	extent that such
income or gains are applied exclusively to charitable purposes.
The trading subsidiary is subject to the normal taxation rules,
(k) Operating leases
The cost ofoperating leases are charged as a cost in the statement	offinancial	activities
as these costs are incurred over the period ofthe lease.
(I) Fund accounting
General funds are unrestricted funds which are available for use at	the discretion of the
trustees in furtherance of the general objectives of the Union and which have not been
designated for any other purpose.
Restricted funds are funds which are to be used in accordance with	specific restrictions
imposed by the donors or raised by the Union for particular purposes. The cost		of raising
and administering such funds is charged against the specific fund. The aim and		use of
each restricted fund are set out in the notes to the accounts to financial statements.

Analysis	ofStaff Costs	ofStaff Costs					2022		2021
									E
		Salaries and wages					279,400		242,532
		Social security	costs				26,984		19,468
		Pension cost					9,563		8,749
		Staff training costs					1,340		5,229
		Staff recruitment	&advertising
							317,287		275,978
Average	number ofemployees			- administrative		staff	8		8
				sabbatical	officer		2		2
							10		10
Trustees
Included	in	the staff costs are		payments	to the	following trustees for their roles		as
sabbatical		officers:
							2022		2021
M Cardoso									19,402
D Gouldborn									19,402
M Wright							21,403
A Gooch							21,339
							42,742		38,804

emuneration
	2022	2021
	E	E
Audit	3,525	3,525
	3,525	3,525

			Company	Company	number	06967378
Tangible Fixed Assets
		Motor			Office	Total
		vehicles		equipment
COST:
Balance at 1 August 2021		13,662			3,343	17,005
Additions					4,020	4,020
Disposals
Balance at 31 July 2022		13,662			7,363	21,025
DEPRECIATION:
Balance at 01 August	2021				2,506	2,506
Charge for period			3,415		1,756	5,171
Disposals
Balance at 31 July 2022			3,415		4,262	7,677
NET BOOK VALUE:
Balance at 31 July 2022		10,247			3,101	13,348
Balance at 01 August	2021	13,662			837	14,499
Fixed Asset Investment
						Total
Balance at 01 August	2021
Additions
Disposals
Balance at 31 July 2022
Subsidiary undertaking	-Suffolk Union Services Limited -Company		number	07316145
Percentage shares owned -100%
Objects - commercial	activity on the University	of Suffolk Campus site.
					%age
				holding
Class of shares - ordinary 61					100
					2022	2021
					6	6
Aggregate capital and	reserves				(11,669)	(11,669)
Profit/(Loss) for the year					3,220	3,220

					Group		Company
					2022	2021	2022	2021
Analysis ofdebtors
Amount due from subsidiary		undertaking		—licence fee
Amount due from subsidiary		undertaking		—trade debtor balance
Trade debtors					16,304	14,050	16,304	14,050
Prepayments
Sundry debtor					12		12	12
VAT account					1,087	6,231	1,339	5,547
					17,403	20,281	17,655	19,609
Analysis ofdebtors due after one			year
Amount due from subsidiary		undertaking		- loan	15,000	15,000	15,000	15,000
Aggregate amounts					32,403	35,281	32,655	34,609
					2022	2021	2022	2021
Analysis ofcreditors
Amounts falling due within		one year:
Amount due to subsidiary	undertaking		- (creditor)
Trade creditors					10,277	12,292	1,648	3,689
Social security &other taxes					11,384	6,389	11,402	6,406
Staff pension scheme					210	144	210	144
Other creditors					4,713	9,746	1,711	9,746
Deferred income (grants 2016/17)						2,000		2,000
Hardship fund						750		750
Corporation tax
Accruals					5,500	5,500	4,500	4,500
					32,084	36,821	19,471	27,235
Leasing commitments
							2022f	2021f

11.	Sports &Societies c	osts
			Equipment,	Travelling	Affiliation	Insurance	Sundry	Total	Total
			venue &		fees		expenses	2021	2020
			official fees
			f	F	6
	Sports &societies
	general		21,123	4,432			23,430	48,985	28,062
12.	Other activity costs
			Total	Student	Elections	Democracy	Advice	Marketing	NUS
				trips 154482	8 campaigns f	&represntn 6	service 6	depart. 6	Extra 6
	Other costs:
	Subscriptions		1,191				1,082	109
	Cost oftrips & entertainment		13,329			898	2,996	9,435
	Bank charges		83			22		61
	Conference expenses		1,010			1,010
	Staff training		365			365
	Mini bus &travelling		3,375			2,018	1,357
	Professional fees		44,771			383	40,377	4,777
	Marketing		907			673		234
	Printing & photocopying		156			120	36
	Freshers week		9,875					9,875
	Office stationery
	Hire offacilities		417					417
	Telephone
	Computer software		572			510		62
	Equipment		157				157
	Election and campaign	expenses	1,219			1,219
	Sundry expenses		407			378	29
	Total for year ended	31July 2022	77,834			6,830	46,034	24,970
	Total foryear ended	31July 2021	20,339			8,725	1,581	10,033

Office staff &administrative	Office staff &administrative	costs
			Total	General	Executive	Trustee
Support costs:
Travel &subsistence	expenses		103		103
Hire offacilities			65		65
Entertainment			347		347
Promotions			17		17
Conference expenses			570		570
Campaigns			419		419
Marketing			94	94
Election expenses			30	30
Leghal 8 professional	fees		385		385
General office costs:			124	124
Insurance			5,584	5,584
Telephone &communications			10		10
Printing & photocopying			244	244
Computer software			5,520	5,520
Office stationery			2,951	2,951
Staff uniforms			527	527
Bank charges			717	717
Subscriptions			2,411	2,411
Sundry expenses			157	157
Total foryear ended	31July	2022	20,275	18,359	1,916
Total foryear ended	31Ju/y	2021	43,314	41,213	2,101

2022	2021
E	E
300,000	300,000

Restricted Funds
		Total	Most	Sports
			active	and
			students	Societies
			E	E
Income
Sports income		12,192		12,192
Total foryear ended	31July 2022	12,192		12,192
Total foryear ended	31July 2021	2,258		2,258
Support costs:
Equipment, kit, venue	hire 8
official fees		21,123		21,123
Travel &subsistence	expenses	4,432		4,432
Staff training		455		455
Staff uniforms		1,984		1,984
Promotions		641		641
Entry fees		2,739		2,739
Postage and stationery		1,244		1,244
Computer software		38		38
Professional fees		14,277		14,277
Conference fees		570		570
Bank charges		26		26
Hospitality		1,208		1,208
Subscription s		248		248
Total foryear ended	31July 2022	48,985		48,985
Total foryear ended	31July 2021	18,511		18,511

Analysis of net assets between fun	ds
			2022	2021
	Unrestricted	Restricted	Total	Total
	Funds f	Funds F	Funds E	Fundsf
Fixed assets	13,348		13,348	14,499
Net current assets	84,026		84,026	142,973
	97,374		97,374	157,472

Analysis of	net mo	vement in funds
			Total funds	Total	Total	Transfers	Total funds
			brought	incoming	resources	between	carried
			forward E	resources f	expended	funds 8	forward E
Restricted funds:
Most active student		and General sports		12,192	(48,985	36,793
				12,192	(48,985)	36,793
Unrestricted	funds:
General fund			154,472	409,185	(429,500) -	36,793	97,364
			154,472	409,185	(429,500) -	36,793	97,364
Total funds			154,472	421,377	(478,485)		97,364

		2022	2021
	Note	f
CASH FLOWS FROM OPERATING ACTIVITIES:
Net cash provided by (used in) operating activities	Table 1	(10,402)	(4,149)
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchase offixed assets		(0)	(0)
Net cash provided by (used in) investing activities		(0)	(0)
CHANGE IN CASH AND CASH EQUIVALENTS		(10,402)	(4,149)
Cash and cash equivalents at 1August 2021		131,621	135,770
CASH AND CASH EQUIVALENTS AT 31 JULY 2022		121,219	131,621
TABLE 1
RECONCILIATION OF NET INCOME/(EXPENDITURE)
TO NET CASH FLOW FROM OPERATING ACTIVITIES
Net income/(expenditure) for reporting period as
per statement offinancial activities		(14,004)	(10,109)
Adjustments;
Disposal offixed assets			(0)
Depreciation		835	836
(Increase)/Decrease in stock		(28)
(Increase)/Decrease in debtors		(11,152)	(3,249)
Increase/(Decrease) in creditors		13,947	(3,547)
Net cash provided by (used in) operating activities		(10,402)	(4,149)