Company number 06967378 Charity number 1153426 UNIVERSITY OF SUFFOLK STUDENTS. UNION I COMPANY LIMITED BY GUARANTEE) CONSOLIDATED REPORT AND FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 JULY 2023 GMS FC Chortered Certifièd Accountants Ststutory Auditows 1 LONDON ROAD IPSWICH, SUFFOLK, IP12HA ALtIviui 27108r224 COMPANIES HOUSE
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UNIVERSITY OF SUFFOLK STUDENTS. UNION FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 JULY 2023 INDEX Pages Company information Trustees rer Auditors, report Statement of finanaal activthes - l incorporating an Income and expenditure a¢unt) 10 Conslidaled Balance sheet 11 Company Balance sheet 12 Notes to the financial statements 13-20 Consolidated Ststement of cash liows 21
Company number 06967378 Charity number 1153426 UNIVERSITY OF SUFFOLK STUDENTS. UNION COMPANY INFORMATION AS AT 31 JULY 2023 COMPANY NUMBER C6967378 Registered in England & Wales TRUSTEES AND DIRECTORS Ms. Lou Chiu Ms. Jessie Leong Mi. Alex Gooeh Ms. Megan Wright Mr Lev4is Woolston Miss Katherine Pickard Ms. Kelly Lambert Mr Tyler Payne Ms. Hollie Gregg (Resigned 31107r23) (Resigned 3011112022) (Resigned 14109r22) COMPANY SECRETARY Ms. Jumara Sione STUDENT OFFICER cOMMIEE Alex Gooch Jude Dzregah Dean McGeachie Bernard Harrison Jamie Steele Jessica Howard Alexandra Corriea Sam Clarke Axel Medca James Lea Leesha Daniels Gabof Bainoczi Emmanuel Afolabi Presklenl of EdUCatn BAME Officer Business Schod Officer EAST School Officer Heatih and Sports Sciertce Officer LGBT Officer Mature Students Ofticer S(Kial Science and Humanit$ School Officer Students wth Caring Responsibilities Officer Students with Di8abilit*s Officer Womans Offir LSC London Offi Postgrad Officer Page 1
UNIVERSITY OF SUFFOLK STUDENTS. UNION COMPANY INFORMATION AS AT 31 JULY 2023 PRINCIPAL AND REGISTERED OFFICE University of Suffolk Students, Union. Library Buikling, Neptune Quay. Ipswch. IP4 1QJ. CHARITY NUMBER 1153426 SENIOR STATUTORY AUDITOR: Chrtstopher Smith FCA. ACCA AUDITORS GMS FC Chartered CerbfEd A¢Gountants & Statutory audrtors 1 London Road Ipswich Suffolk IP1 2HA SOLICITORS i Bates Wells & Braithwaile London LLP . 2 - 6 Cannon Street London EC4M 6YH BANKERS Barclays Bank plc, Princes Street, Ipswch. IP1 1 PB. WEBSITE www.uosunion. Page 2
Coffwany number 06967378 Chanty number 1153426 UNIVERSITY OF SUFFOLK STUDENTS, UNION TRUSTEES REPORT FOR THE PERIOD ENDEO 31 JULY 2023 The Trustees present their ftfteenth report and the Company's financial statements for the year ended 31 july 2023. The financial statements have been prepared in accordance with the accounting policies set out in note I to the accounts and comply with the Company's constitution document, the Charities Act 2011. the statement of recommended practice.. Accounting ènd Reporting by Charities 2015 IFRS 1021 and the requirements of the Companies Act 2006. strurtuiè. Governance and Management The University of Suffolk Students. Union IUOSSUI is a company limited by guarantee having no share capltal, formed by its constilution document, the Memorandum and Articles of A5$0Ciation, and under the Companies Att 1985 to 2LN)6. UOSSU is a registered charity Icharity number.- 11534261. registered on 15 Augv5t 2013. The charity was established to serve its members. students at the University of Suffolk. The Board of Trustees is responsible for UOSSU'S finanoal. legal, and charitable affairs. Student Council Is responsible for UOSSU'S democratic processes and priorities for UOSSU'S charitable services. The Student Officer Committee. in conjunction with staff members. is responsible for the day-to-day running of UOSSU'S activities. Those who served on the Student Officer Committee are elected annually by secret ballot of ihe members. Trustees continue to be appointed in the followin8 Ways: - Sobb•ii(al Trustees- Up to two sabbatical trustees may be appointed by secret ballot of the members 'for a term not exceeding two years. Sabbatical Trustees are elected student leaders and representatives who are employed by UOSSU. Student Trustees- Up to two student trustees may be elerted by a majorityvote of the Student Council from those nominated by the Appointments Committee. Student Tfustees are volunteers. External Tru51ee5- Up to four external trustees are appointed by a simple majority vote of the Student Council from persons nominated by the Appointments Committee to serve a three-year term. with re- election possible for an additional term. The maximum term of office is six years. External Trustees are volunteers. Members of tho UOSSU Board of Trustees {1 August 2022- 31 July 20231 Lou Chiu External Trustee and Chair of the Board Sabbatical Trustee, President of Education12022- 2023) Alex Gooch Completed on 14 Juty 2023 Cornpleled on 14 November 2022 riiegan Wright Sabbatical Trustee, President of Activities and Wellbein 2022-20231 Sabbat1 Twstee. President of Educalion12023- 2024) Sabbatical Trustee, President of Activities and Wellbeing12023-20241 Sludenl Trustee Lewis Woolston Slarted on 3 Juty 2023 Katie Pi¢kard Started on 3 Juty 2023 Hollie Greg Kell Lambert T lerPa ne Jessie Leon Completed on 14 September 2022 Siarted on 31 Janua Started on 31 Janua Student Trustee StLsdenl Trustee Extemal Trustee 2023 2023 Andrew Crowe Extemal Trustee Completed the role on 18 Au ust 2022 Page 3
Company number 06967378 Charity number 1153426 UNIVERSITY OF SUFFOLK STUDENTS. UNION TRUSTEES REPORT FOR THE PERIOD ENDED 31 JULY 2023 UOSSU Leadership and Turnaround Period Dvring this period. we experienced a significant change in leadership. Jumara Stone. CEO. joined UOSSU in October 2022. During this time. a Head of Operations and Head of Membership were also appointed. To best support the new leadership team and re-establi5h firm foundations after the instability that resulted from the global pandemic and the deporture of the forrner CEO and Chair of the Board in the previous year. the Board of Trustees elected to enter a turnaiound period. This began in February 2023 and continued into 2024. The Board of Trustees were supported by 3 TLbfnaround Board. who acted as expert consultants during this time. The laner's scope consisted of five pillars of work= Charitable Governance * Student Voite Student Engagement Human Resources Financial Compliance and Management. The Turnaround Board was $eleed based on the ski115 and needs analyshs of the Board of Trustees. It in¢luded volunteer5 from the National Union of Students and Govemance, HFgher Education, People Development. Charity Recruitment and Financial sectors. Objertives and Artivities The objective5 of the SU are to advance students. educational and social experiences whilst ai ihe University of Suffolk and for the public benefrt bv: Promoting the interests and welfare of students at the University of Suffolk during their course of study and representin& supporting and advising students. Being the recognised repfesentatrve channel between students and the Unbversity of Suffolk and any other external bodies,. and providing social, cultural. Sporting. and recreational a¢tivitie5 and forums for discussion and debate for the personal devebopment of its students. Actlvities The Students, Union has adapted to changing Siudent needs ènd external circumstances. We have observed shifts in spending and social habits, leading to a blended model of traditional night economy events alongside more non-drinking events. Welcome Week continued with barbeques, crafts and brunches with new and returning students. The cost-of-living crisis has remained a focal point, and we have continued the Successful C05t of Living campaign led by the President of Education. This campaign has been 5tudent-led, with students volunteering at events, packing lunch bags. and supporting our sabbatical officers. requests for support and relief. such as Iree studer)t car parking. The social space offers warmth while attending movie nights and celebrating seasonal festivitie5. attractin8 SUPPOrt from local MPS. Page 4
Company number C6967378 Charity nUmr 1153426 UNIVERSITY OF SUFFOLK STUDENTS. UNION TRUSTEES REPORT FOR THE PERIOD ENDED 31 JULY 2023 Shop SU and the Social Space The social space has continued to see regular use. particularly due to the University's Health and Wellbeing building nearby. In March 2023. the decision was made to temporarily close the SU Shop. In May, the Head of Operations position was created to focus on reopenin8 the shop and making il successful while managin8 the Finance and HR departments. The shop reopened in September with a self-service POS system and front-of-house staff 5UPPOrting it. UOSSU continues to receive a block grant frorn the University as tts primary funding source. with plans to develop commercial revenue opportunities. A new joint projett with the University aims to establish a barlcafé on campus. Acr has been offered the v5e of James Herriot Hall, an organi5ation whose core values align with UOSSU'S mission- working a5 a Social enierpfise and supporting the community. ACT has a café in Suffolk that supports refugee5 in the area, and rts aims directly align with what we want in the SU. We are grateful for the university's SUPPOrt in ensuring the Su's involvement in forming this partnership with Acr. SU Represematlon We have continued our commitmentto student leadership through course rep5, elected officials. club and society committee members. and student volunteers. A priority has been developine core liberation activities such as Reclaim the Night. the Cost-of-Living Campaign, and International Women's Day. We are also devebping an associated brand to engage members in student democracy. SU Opportunities This year, we have strategically reduced our BUCS and social 5POrts to focus on areas of sport that meet students, needs. The team has been tasked with creating a summer line of events to maintain engagement with our students who remain on campus over the summer. such as international and commuting students. Traditional, all SU activitie5 Stop after term 3. Clubs and societies have continued to provide students with opportunities to meet others who share interests and hobbies. SU Comrnunications and Events Welcome Week saw hundreds of students participating and meeiing new people. Freshers, fairs included stands from the local community. univeTsity support teams, and the VCSE sector. We have developed our social media reach and engagement, focusing on Insta8ram and TikTok. We also continuously work on Facebook to engage with the 18-24-year-old demographic. which comprises a high percentage of our current student body. In May, we held the annual SU Student and Staff Awards nht to celebrate the year's achievements. with categories including Campaign of the Year. Lecturer of the Year. and more. Thi5 night replaced the end-of-year Summer Ball. deemed too costly to put on thi5 year. The Awards Nht was received very well, and all who attended said it was a lovety way to en(J ihe year. SU Advice The Advice Service continues to offer online and in-person aprA)intments with allocated drop-in sessions for student5 who may need urgent support without an appointment. The team has also used key campaign weeks. such as the Elections period and Welcome Week. to create drop-in 'coffee and cake, chats, sharing what the ser¥Ke offers to students considerin8 approaching the su. Pa9e 5
Company number 06967378 Charity number 1153426 UNIVERSITY OF SUFFOLK STUDENTS. UNION TRUSTEES REPORT FOR THE PERIOD ENDED 31 JULY 2023 Academic appeals continue to be the key area where students have been supported. An emerging theme comes from new student cohorts looking for preventative mental health support, an activity we will invest in for the upcoming year. A growing port of our Advice Service is the Food Bank. which ha5 Seen an increase in use this year, and we predict it will continue in the Coming year while we are in the c05t-of-living crisis. This has greatly helped 5UPPOrt students in need and has demonstrated how badly students are struggling financially. Financial Review Management accounting was undertaken throughout the year. made available within Trustee Board papers, and presented to the Board at each meeting. The gross income of the SU totalled £603,607, comprised mainly of the UniversiW5 block grant contribution. Additional income through our marketing function has been low. The Student Awards NTr8ht celebrated student land staff) achievements, which the team delivered brilliantly. Over 120 people attended, demonstrating all the work our students are doing and how thewre engaging with the SU. . Statement of Trustee Responsibilities Concerning the Financial Ststements The Trustees must prepare account5 for each financial year that 8ive a true and fair view of the state of affairs of the SU and the surplu5 or deficit of income over expenditure for that period. In preparing those accounts. the Trustees are required to follow best practices and- Select 5Uitable accounting policies and appfy them consistently. Make judgements and estimates that are reasonable and prudent. Assess whether the policies adopted are in accordance with the Statement of . Recommended Practice relating to charities and with applicable accounting standards. subject to any material departures disclosed and explained in the financial statements,. and Prepare the financial statements on a going concern basis unle5S it is inappropriate to presume that the charity will continue its operations. The Trustee5 are responsible for maintaining proper accounting records that alway5 disclose the charity's financial position with reasonable accuracy and enable them to ensure that the financial statements comply with the Charities Act 2011, the Statement of Recommended Practice.. Accounting and Reporting by Charities 2015 IFRS 1021, and the provisions of the constitution. They are also responsible for safeguarding the charity's assets and taking reasonable steps to prevent and detect fraud and other Irular1tie5. The Trustees have taken all necessary steps to become aware of any relevant audit information and to establish that the companws auditor5 are aware of that information. Page 6
Company number 06967378 Charity number 1153426 UNIVERSITY OF SUFFOLK STUDENTS. UNION TRUSTEES REPORT FOR THE PERIOD ENDED 31 JULY 2023 Auditors GMS FC was appointed as auditors of the company in accordance with section 485 of the Companies Act 2006. and a resolution proposing their reappointment will be put to the annual general meeting. Small Company Provision This report has been prepared in accordance with the special provisions of part 15 of the Companies Act 2006 relating to smaller companies. This report is approved and 51Bned by the Chair of the Board of Trustees, Ms Lou Chiu. Ms Louise Wai-yin Chiu External TrLbStee and Chair of the Board (Aug 2022-Jul 20231 Pa9e 7
Company number 06967378 Charity number 1153426 UNIVERSITY OF SUFFOLK STUDENTS. UNION OEPENDEMT AUDITORS REPORT Report of the Auditors io the & Membw5 ofthe Unilylty ofsuffolk Siudwts. UniDn Oplnion We have audited the financk71 slalernents of Ihe Uni¥ersty of Suffolk Students Union Ithe'parenl cpanY') aThJ its subsidkAries Ilhe'group'l set out on palles 10 10 20. ppared in 3ccordarKe Ihe polic18S Sel LNJt on page 13 forth yearended 31 Juty 2023 and thith wprise statement olfinanuai actr¥rties Iincorporalirs a Ire and eXndUre aUntI, the balan sheet and related notes. The finanual retX)thng tramework that has been applied In their piepaiation ts applicab lèw and Unrted Kingdom AixwntiNJ standa$. Including Finanaal Rewrting StaTrJard 102 The FInaalRepfrThJ Standard aKable in Ihg UK andRepubc of Ireland Iunited Kingdom Gerralty Accepted Accounting Pracbc•l In r¢pInIon. Ihe finan0 slatements. . give a true and fair view ol the stale ofthe 9roup and charithbk affairs as al the 31 July 2023 and of the group's incomin9 J¥c8S and app1Ka1 ofwuros. Ir1n9 rfs Irome and expendurÉ forthe 31 Juty 2023 then ended. ' have been propety Ipared in ac£orOarKeMdh United Kl9c Generally Accepted knnting Pradi¢e." aryj . hav bEen prepared in acLinCe the requiremenls ofthe Ctyyyonw Ac 2(#J6 and statemenl of reo)mmended praclKe.' xuun"TrJ and reF4Xtiry ty tharitie8 ISORP 2015 IFRS10211. Basls foropinion We conducted ouraudil in ac£ordance with Internalh?nal SlaThJard5 on IUKI IISAS IUKII 3pplicab law. Our respwsibilities underlhox stsndard5 are furfher described in the AYrto re5pongkntst5 for the auort of finanoal slalemen15 Section ol our report We ale indewndenl of the group and parent CpanY in 3ccordanc¢ wrth the ethical requiremenls that are rekvant to our audrt of Ihe finawal slalerren15 m the UK. iTr¢lut1ing the FRCS Ethi¢o1 standard. and * h•ve fvlfilw our olher eth1 reSponlitS in axw¢Janre these requireffnts. We telve'lhal the audrf evidence we have obtained s suifKnt and apwpnaie 10 provwje a ba515 for our opinw. on¢lu$lorts r¢laiing to golrty ¢on¢m We have not9 lo rep)rt tn respea olthe folThJ fflatter5 in relalion the ISAS (UK) require lo rewt lo you where". ' the Iwslees. use of the COrM bas of ac£rJunling in preparion ofthe hanc?15tatements not appropriak." or . the Iruslees have not disdosed in the finanoal statemenls any Nlenlrfd mii•l urertaints that may cast signfficant doubt about the group or paienl ccmpanys alty10 continue to )pt the 9oing corttrn basts of accounting for a pBfiod ol at kna5t monts Irryn wIn the financial statemerts for 5sue. Other intomiation The elher Inforrnatm comprisesthe irfcffjwlwjn indthled the amual rerN)rt dherthan the fina?1 slatements and our audilofs reportthereon The Irus¢ees are respon5 lorthe ¢)thei infoimalwjn ¢taIned %¥ithin the annual r¢ptsrt. Ovr wnion on Ihe finanel simeths d¢)es not ¢o¥er Ihe other InfrJml¥itin ¥TrY. ex¢epl to the extent heMse exlicitiy staled in our report. we do not exk¥ess any lom) of assurance ¢ondu$)n lh¢0. Our respOnsilty is to read the other Informal and. In dthrvj so. con8KlerWther Ihe other Informat i malerialw inconsistent with Ihe financial 51ateffents or our knowkdge Obtsid In the Cjr5e of Ihe audit or otherwix appear510 be malenaNy miststed. Il Identtysuch material IrKons151encs or apparent mater81 ffl151alements. are requi10 determine whether this gNes rise to a fflaknal mislalement in the financial slatement$ themselves. Ir. based on Ihe we have perfffle, t(%Ude lhalthe s a material mist8tsrTnt of this other informaln. tA are iequired lo wort Ihat fact. We have nothing t¥ rEPOrt in thy& arlI. Oplniorts on other matters pr88crlbed ty the Cl>mnIeS Act 2006 In our opinion, based on the woth undertaken in the course of the . the infomaon gNen in the trustee's rep)rt. whKh indthe diredors repNI prepar•a IOT cunpèny law wrposes, forthe finanoal arIOrwhh the fmancial statements8r• prepared is con515tent With Ihe financbal ststernenls,. 3nd ' the strate9¢ ieport and Ihe diree¢ots report indwjed the IrusleEs reFTht has teen wepared in ac¢ordance with •pp1K0¢ legal quIremls. Matt•r8 on whlch we are requiT8d to report by ejrcetylon In the Ih1 oflhe knedge and un¢Jerslanding of gr1p parenl company aTrJ it5 envxonrnEnl obtained in the course of the a¢)Jrt. we ha noi bjentir Ma1 msawnts in the trustees rewL Con"nued o¥er.......................
CoMFony wmtr 06967378 Ch8ntynLKrknr 1153428 UNIVERSITY OF SUFFOLK STUDENTS. UNION 114DEPENDENT ALThTORS REPORT ICOMnl&ED) We ha¥e Mthirwj in wi ofts f0kn7 rn•rs Fl 2r LNres us repart to rf. w our opnpJi'. Il have nDI iEen reNed from braYhe5 not Yi5ited ty L or . Ihe parent Mmpany fiTra $tstements4re in 4reern•Mwth th• aLUir¥j recudsand relurr. . wè have Thx all the itrm8btyl exp&natiws e pwue5 ¥ewme Re$wn$lbilTrlivs oltrusfees A5 explaiDEd tsly In the trLtsbXS' ie5Wl%t1 siaknernseial oi p¥ 6thetru5te25 we rsswsitrAe for the preparaticffj tr fara•1 staiements sabsw O trL and f8if ana for%J¢h intern4 tontrd as Il Intslee5dEtetrnire s re5%Y to enab ihe wep•t8t#)tl finwcial statements itsl are free from maM31 rnlsstst8mi. tsthEr dUetofralx w(Y In wep3rir#J the fmanoal ststernerts, Ihe tru4o0$4r8 tras8s8Kw wp's abqty to AS • cthi(rn. 15cknyng. as malleIe181 b) WJ 9[Trg rnrKem ba&sofaGcounlmg vnl¢$8 ihp true$ tocase erabons, or have rLO realiti allerTh41¥ rxrt 80. Avditoe• rEspwJity•lities fov Ihe a11101 financial siatemiits tree from rnalenal misslaeN, to fraud to ButhWslÈthaI ude$ Our ¢pjn Rea$0 a5SLwance i5 a ofa55urarre. trwJt a guaran1 Ihal an Jdrf cwdLKted ITh I&As (UK} ¥iil deiecia maieri rniW3trm1wth it ex¢5ts. mStatementS can snse trom fla c erfor aThlgre nSlA1 matUiHI if. ¢Y tyi tr 39g¥egatq these f•nOI sr8tem8nis. Extènt of Pr4x•duw•s to d•t•et ivresulwrii 10 JÈnIn9 and Wukin$ ts cryJNY be exFeded lo a materol trefMrK4al 51atemeDis. rIr& Ihe engagemwi wm trg, the ¢4rt¢owofthese •id erwwie5 were The fc4trmg and ed as Lry a s#rv¥ enw f881 stanQ8r¢s. Company L. Tax and Pemnns . TnSe LYS regUtty)s forthrh rA)nrnrar rnay kndarnenthi to thÈ¢JperatiTha asFe of Itertes. enMionmeni and heanh & sthty procedures uNtulaken in the ¢sksrebty to fr•xl and rn(nDl18rtt wth knt arf rubS1 crmedof Inqu1 ofrn¥wmenia 8$ low1rr enbty comrI5 ith ar48 t)n5." enquiTE5 the swie about aciua or potenbal Iiwn (Y ¢14im$". of rtvant (We¥. re¥thv of board MirArt testhre the approptkn ¢lioUrna. 8NJ Ir perftyMaCrfart lentrfy unexpttthd rnONtments In ¥r£wnl wanos trwt maybe uvJK3tThp offrJ. No Inslancesofmatenal nan-com&gn¢ewve tr of¢etyng rIS InL19 lunthj by Mherent diffuty det Wre91s. Ihe eniW$ corlrols. the Tralure. ImirvJ 8fKJ extert ollhe Irt wttty>Jrts ptyftrmed. Irregnt¢S tst res foxn fraud rnighl be Inherentty drfftutt to Irwtths $v frtyn wroi. A%eArd• abo%. there n5k Ihal malenal rnwtaIeMoY4 te4t&J. IhLM U auorf has and ISA'S (UK). A ltytrr¢8ethK)Th ofour responste5 forthe autht ofthe firral statthmen15 is ¢yi tr Fin8nC4ai Rep9 cou.$ at JhvW.tr forrns port ol our audiws rtpxt. chnsthph Srnith FCAACCA I$YStYmK for andon behalf of GPAS FC Chartered CeflffiedNUntatyts StalutoryAtsJiiL¥s 1 LOOn RoHd Ipswch Sultolk IP1 2HA
UNIVERSITY OF SUFFOLK STUDENTS, UNION C¢Ynpany number C69S7378 Chaiy number 1153426 CONSOLIDATED STATEMENT OF FINANCIAL ACTMTIES FOR TrE PERIOD ENDED 31 JLILY 2023 Not Unvtstr¢W Rstri¢i¢d Ftsnds Funds Toial Funds 2022 2023 INCOMING RESOURCES Volunlary Income.. Unwer51ty grants Donated fa¢ilrts Retsil turnover 14 $50,618 30,462 581.080 364.851 7.398 558,016 7,398 30,462 588.478 371.4 Aeiivilies forgenerating lunds." R¢nL and lees ¢haryBd to subsidiary Freshers fair event NUS extra card income 9.219 9,219 759 9.665 9.315 9.315 In¢oming rsout¢¢s Irom acliw1i.' Sports & So¢iekne$ incorre Most a¢tyYe Slwjents 12.192 12.192 Olherlncome.. HMRC Employrnent aiwn¢¢ Marketing fees Sundry Income Grant recewj from Uos 4.333 13,595 9,500 28,024 4.154 4.154 Toialincomlng resources 573.145 30.462 603.607 421.377 RESOURCES EXPENDEO Costs olgenerating fvrtds.. Commercial acti¥ilies Freshers fairevent Cost o18ctivities.' Sports & Societ expendrture Most $twJent$ Other adNities Rent and fees charw to trading Sundry dired costs 11 12.988 12,988 12 78.288 10.494 88.782 77.870 91.276 10.494 101.770 126.855 Governance costs.. Stsff ¢ost$ 389.863 389.e3 317.287 Donated faclrties General offic expeitUre Executwe Cornmittee expenses Trustee Board expenses Matheiiiig Depart1 NUS Extra SuffoM% Union ser¥e$ k)an lIe off oepreus1 & oth8rcosl& Deprecjalion of office equikynenl Loss on dispo$al of fixed assel 13 13 13 12 12 16.621 22,319 16.621 22.319 1.993 27.256 1.916 20.932 5.171 455,993 455.993 351.630 rot81 outwngresotsrus 547,269 10,494 557.763 478.485 Nei in¢ominrfoutyoing) resow Tr)nsf¢rs fvnds 25.876 19. 45.644 {57.1081 9.474 19,4741 Fund balances brought fonvard 97.374 97.374 154.482 18 132.724 10,494 143.218 The staterrnt of finanoal adNitS (InwpYJiatirffJ an icome and expenditu actountl IndeS all gains and losses in the per{1 and ttr*rtfo a statement of wal reco9nised gain$ aThJ knsses has not been wepared. amounts relate to co"nU1j pen$. Page 10
Company number C7378 Charity number 1153426 UNIVERSITY OF SUFFOLK STUDENTS. UNION CONSOLIDATED BALANCE SHEET AT 31 JULY 2023 Company reglstration number 06967378 Notes 2023 2022 Tangible Fixed Assets Fixed Asset Investments 8,636 13,348 8.636 13.348 Currnnt Assets Stock Debtors Bank and cash 1.425 21.965 146.98S 170.375 1,417 17,403 97,290 116,110 Creditors: Amounts falling due within one year Net Current Assets 35.793 32,084 134,582 143,218 84,026 97.374 Creditors: Amounts falling due after one year Net Assets 143,218 97.374 Financed by fund balances: Unrestricted funds General fund Restricted funds 16 16 143,218 97,374 143,218 97,374 These accounts have been prepared in accordance th the special provIsn$ of part 15 of the Companies A¢t 2006 and the Statement of Recommended practi 2015 (FRS 1021. The financial ststements were apFYoved by the Trustees on their behalf by". and svJned on Ms. Lou Chiu TRUSTEE The Dotes ¢)n pages 13 to 20 form part of these finan¢ial statements Page 11
Company number 06967378 Chanty number 1153426 UNIVERSITY OF SUFFOLK STUDENTS. UNION COMPANY BALANCE SHEET AT 31 JULY 2023 Company registration number 06967378 Notes 2023 2022 Tangible Fixed Assets Fixed Asset Investments 8,636 13,348 8.637 13,349 Current Assets Debtors Bank cash 50,186 139,734 189.920 29.654 91.584 121.238 Creditors: Amounts falling due wrthin one year 34,793 19.471 Net Current Assets Cd110r$". 155,127 163,764 101,767 115,116 Amunts falling due after one year 163,764 115,116 Financed by lund balancfjs: Unrestricted funds General fund RestTKted funds 16 16 159,744 4,020 163.764 111.096 4.020 115,116 These accounts have been prepared in accordance with the special provIsnS of part 15 of the Companies A¢1 2006 and the Statement of Recommended Practtt 2015 IFRS 102). The financial statements were approved by the Trustees on their behalf by". and sjgned on Ms. Lou Chiu TRUSTEE The notes on pages 13 to 20 fom part of these finan081 stslements Page 12
C¢impany number 06967378 Charty number 1153426 UNIVERSITY OF SUFFOLK STUDENTS. UNION NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 JULY 2023 ACCOUNTING POLICIES (al Basis of preparation The financial statements have been ppared under the historic cost convention. and in accordance with applicable Unrted Kingdom slandard5, the Statement of Re¢ommended Practice .' Accounting and Reporting by Charities SORP 2015 IFRS 102} issued in January 2015 and the Companies Ad 2LK6. (bl Incorning resources l income, unless received IC a specfft or restricted use has been Cfedited lo a general a¢cumulaled fund. (cl Resources expended Liabilrties are recognised as exFenditure 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 dassified under headings that aggregate all costs related lo the category. (dl Governance costs Govemance costs comprise the costs asscKiated with the govemance arrangements of the Union which relate lo the general running of the organisation as opposed to to those cost associated wth wlh ndraising or chanlable &bvty. lel Donated seprfices and facilities University of Suffolk provides the Union office space and sports facilrties at no char9e. As required by SORP 2015 IFRS 1021, the donation of these facilities is included as an Incoming resource and a matching outgoing resource wthin the slalemenl of fi'nancial acbvilies at the Irustees. estimate of their value lo the Students Union. Irrecoverable VAT is charged against the category of expenditure lo Ithich rt relate5. Ig) Tangible fixed assets and deprttiation Expenditure on fhxed assets is capitalised and valued at historic cost. Depfecration is charged on capital expenditure and is written off al 25% per annum straight line on cost over the estsmaled useful life of the asset (h) Pension costs Employees of the Company are invited to Join a defined contributson to a money purchase scheme. There was £2,254 (2022 - £210) outstanding contributions at the year end. See note 8. li) Investments Investments are stated al the lower of cost and net realisable value. All are held in the UK. ) Taxation The company meets the definition of a Charitable company for UK corporation tax purposes. Accordingly, the company is exempl from taxatson lo the extent that su¢h income or gains are applied exdusively to charitable purposes. The trading subsidiary is subject to the nonnal tsxab.on rules. {kl Operating leases The cost of operats.ng leases are charged as a c/)st in the stslement of finan¢BI aclivitie5 as these costs are incurred over the Fenc#J of the lease. 11) Fund accounting General funds are unrestricted funds whh are availab for use al the discretion of the trustees in furtherance of the general objectives of Union and which have not been designated for any other purpose. Reslricled funds are funds which are lo be used in accordance wth specific restrr¢tions imposed by the donors or raised by the Union for parb"cular purpKises. The cost of raising and administering such funds is charged against the speryfic fvnd. The aim and use of each restricted fund are sel out in the notes to the accounts to finanual statements. Page 13
Company numter 067378 Charity number 1153426 UNIVERSITY OF SUFFOLK STUDENTS, UNION NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 JULY 2023 Tumover The total incorne of the company for the ped has been derived from rts principal acb'vty wholly undertaken in the UK. The grant income of £581.08012022 - £364.851) receNed in the year was paid by the Universty of Suffolk. Analysis of Staff Costs 2023 2022 Salaries and wages Social secunty cosls Pension cost Staff training costs staff recrurtment & advertising 343,397 31,487 14,098 881 279.400 26,984 9.563 1.340 389,863 317.287 Average numbef of empbyees- administrab.ve stsff sabbatical officer 13 10 Trustees Included in the staff Costs are payments to the followng trustees for their roles as sabbatical officers.. 2023 2022 K Pickard L Wooston M Wright A Gooch 7.762 7,803 8.649 23,064 47,278 21,403 21,339 42,742 No employee eamed rernUneratn of over £60,tKIO. Expenses of£1,993 were paid to Truslees during the per under revEw. These all related to reimbursed travel and operational expenses. Auditorn remuneratlon 2023 2022 Audit 3,525 3.525 3,52S 3,525 Page 14
Company number 06967378 Charity number 1153426 UNIVERSITY OF SUFFOLK STUDENTS. UNION NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 JULY 2023 Company number 06967378 Tangible Flxed Assets Motor vehicles Office equipment Total COST: Balance al 1 Augusl 2022 A¢Jdrtion5 Di5wsals Balance al 31 July 2023 DEPRECIATION: Balance at 01 August 2022 Charge for period Disposals Balance * 31 July 2023 NET BOOK VALUE: 8alan at 31 July 2023 13.662 7.363 554 21,025 554 1.667 19,912 -1,667 11.995 7,917 3,415 3.049 467 5.997 4,262 1,017 7,677 4,068 467 12,210 5,279 5.998 2,638 8.636 ance at 01 August 2022 10,247 3,101 13.348 Flxed Asset Investment Total Balance at 01 August 2022 Additions Disposals Balance al 31 July 2023 Subsidiary urKlertaking- Suffolk Union SeThices Limiled- Company number 07316145 Percentage shares owned - 100% Objects- cOmffrCla1 activty on the Universty of Suffojk Campus srte. holding Class of shares- ordinary £1 100 2023 2022 Aggregate ¢aptsl and reserves ProfitllLossl for the year 143,218 45.844 97.374 157,1081 Page 15
Compy rnJmber0696ll78 Chanty number 1153426 UNIVERSITY FF LK STUDENTS. UNIOM NOTES TO ThE FINANCIAL STATEMEMTS FOR THE PERIOD ENDEO 31 JIJLY 2023 Gmup Cofflwy 2023 2022 2023 2022 of dgl>ttys knwnl due frum sUt)$ry undertakiThJ. lee unl due from JbsJsary wdertakry. Ir3(le debt1)$ Trnde dÈbtors Prepaymen &Irry debtty VAT account 16,YJ4 16,304 14.640 14,640 12 1.087 17.403 12 1,339 17,655 7.025 21.955 7.212 22,152 Anatys65 of d•btrys dug •ft¢r y••r Jnt dL bIk?ry wKlertakwJ. k)an 28.034 15,OJO 4ggate amwnts 21. 17.403 YJ.186 32,655 2022 2023 Anaty8i8 of credito Jlmounts lalling due one year." Amtyjffl (hJe subsid41ry urthrtakng. lueth) Trade creditt¢s Social securty & olhertames Staff eon scheme Oiher c4or$ Oeferred irttyne Igrants 201f417) Hardstrw fuTrS Ctypornbon lax Accruals 24.892 10.277 24.892 11.402 210 2,254 3,147 210 4.713 2.254 3.147 4.500 34.793 4.5 19.471 35,793 Loasrng commitmenls 2023 2022 Comitments l ar 10. Company Ilmlt•d by Guarantse The coryany has rNJ share Ca1 e¥ mmber at tWYJ LwJefiaes toconWtsAe £1 to companvs a5se5ts the event of a ¥rindiry Th8re ts no Urnate contrd¥ party. PagÈ 16
UNIVERSITY OF SUFFOLK STUDENTS. UNION Company nurnber C6967378 Charity number 1153426 NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2023 11. Spoth & Societies costs P4)stsg¢ & Stsff Computer Bank Sundry charyes expenses Totsl 2023 Tolal 2022 Sports & societies general 5.351 2,627 1,942 12,988 48,985 12. Oth¢r activlty ¢osts Total IAarkeling (Iwnocracy Sports deparL Execthive & represntn ser4ice Advice Centrnl Other costs-. Accomodation Subsistence Cost of trips & hoswality Entertainment confence expenses Staff training Promotions Mini bus & travelling Traveling Pr¢)fe55ional fees Marketing Printing & photocopying Frèshèrs weèk Office stationery Hire of facilities Sub5CriPtions LInceS Bad debts Election and campaign expenses Sundry expenses Restrided funds Total foryear ended 31 Jty2023 147 118 35 2.196 233 62 4,496 883 1,318 947 1,718 2.171 1.556 3.158 3,197 1.958 115 1.279 31 378 225 23 240 210 1,654 355 1,828 8.036 37 85 2.104 2,C67 5.795 38.633 1.712 2,793 29,747 100 326 750 19.054 18. 16 74 12 16 4,402 370 4.898 1.724 2.141 10.494 109.714 120 227 1,095 2,877 370 4.898 1.659 65 65 1,991 10,494 66,443 20.932 4,176 ,833 13,105 1,225 Total foryear ended 31 Juty 2022 77.870 Page 17
Comwy numbw 06967378 Chanty numter 1153426 UNIVERSITY OF SUFFOLK STUDENTS. UNION NOTES TO ThE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2023 13. Offic• staff & athnSnistrativ• costs Totsi Ex•¢ulive DgmDcrnG> Sport Advicp C•ntral Trading Support ¢o$ts: Travel & subststence exreftses Hire of facilrties Entertainment Promobons conferen expenses Campaigns Marketiry Election expenses Leghal & professional fee5 G8n8ral offio costs.. Insurance Telephore & tornmunications Prinling & photccopying Ccffjputer sofvare Repai Staff unifom Bank ¢harggS Subscriptions Sundry expenses rot•l foryevendedJ1 Jufy 2022 7,712 21.165 7.712 32 21.733 1.818 138 169 149 10 10 615 175 7,871 1.121 937 .933 22.1e6 8,337 8,055 rot•l forye8rnded 31 July 2022 20.275 14. GTrnt lundins The chanty wewes an annual block yr•it from Ihe Unv4efyty tsfsuffdk for gereral use in the condud of Unn aLvrt*S. 2023 2022 Gnt reiVed 550.618 364.851 Page 18
Company number 06967378 Charity number 1153426 UNIVERSITY OF SUFFOLK STUDENTS. UNION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENOED 31 JULY 2023 16. Restricted Funds Total Sports and Socleties Income Grant income Total foryearended 31 July 2023 30,462 30,462 30,462 30,462 Support costs: Miscellaneous expenses 10.494 10,494 Total foryearended 31 Juty 2023 10.494 10.494 Page 19
Company number 06*7378 Charity number 1153426 UNIVERSITY OF SUFFOLK STUDENTS. UNION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2023 161a). Anaty518 of net assets between funds 2023 Total Funds 2022 Total Funds Unrestricted Restricted Funds Fund¥ Fixed assets Nel curienl assets 8,636 124,088 132,724 8,636 134,582 143,218 13.348 84,026 97,374 10.494 10,494 16{bl. Analysis of net movement in fvnds Total funds brought forward Total Total Transf•rn Totsl funds incoming resources between ¢arried sources expended funds forward Restricted funds: Most actsve student and General sports 30.462 30.462 10,494) 10,494) 9,474 9,474 10.494 10.494 Unrestricted'funds: General fund 97,374 97,374 573.145 573,145 547.2691 1547,2691 9,474 9,474 132.724 132.724 Total funds 97,374 603.607 {557.763} 143,218 General funds are available for the futheranee of any of the students. union objects. 17 Related partles Other than disclosed at note 3, there were no related party tranSactn5 during the period under review. Page 20
Company number c967378 1153426 UNIVERSITY OF SUFFOLK STUDENTS UNION (A company limited by guarantee) REGISTERED NUMBER: 06967378 CHARITY NUMBER: 1153426 CONSOLIDATED STATEMENT OF CASH FLOWS AS AT 31 JULY 2023 2023 2022 Note CASH FLOWS FROM OPERATING ACTIVITIES: Net cash provided by (used in) operating acb'vib'es Table 1 50,249 -56214 CASH FLOWS FROM INVESTING ACTIVITIES: Purchase of fixed assets (5541 (4,020) Net cash provided by (used in) investing actbvilTres (554} (4.020) CHANGE IN CASH AND CASH EQUIVALENTS 49,695 60,234 Cash and cash equivalents at l August 2022 97,290 157,524 CASH AND CASH EQUIVALENTS AT 31 JULY 2023 146.985 97,290 CASH AND CASH EQUIVALENTS CONSIST OF.. Cash at bank and in hand 146,985 97,290 TABLE 1 RECONCILIATION OF NET INCOMEI(EXPENDITURE) TO NET CASH FLOW FROM OPERATING ACTIVITIES Net incomel{expenditurel for reports'ng period as per statement of finanual activities Adjustments: Disposal of fixed assets Depre¢iation {Increase)IDecrease in stock {Increase)IDe¢rease in debtors IncreasellDecrease} in creditors Net cash provided by (used in) operating activities 45.844 (57, 108) 1,200 4.065 {7) {4.562) 3,709 50,249 5, 171 572 2,878 (7, 727) (56.214) PaAe 21