COMPANY REGISTRATION NUMBER: 08540244 CHARITY REGISTRATION NUMBER: 1154402 Royal Agricultural University Student Union Company Limited by Guarantee Unaudited Financial Statements 31 July 2024 duncanj0ycewv< & associates, chartered accountants
Royal Agricultural University Student Union Company Limited by Guarantee Financlal Statements Year ended 31 July 2024 Page Trustees, annual report (incorporating the directors report) Independent examiner's report lo the trustees Statement of financial activities (including income and expenditure account) Statement of financial position 11 12 Notes to the financial statements 13
Royal Agricultural University Student Union Company Llmited by Guarantee Trustees, Annual Report {Incorporatlng the Director's Report) Year ended 31 July 2024 The trustees, who are also the directors for the purposes ol company law, present their report and the unaudited financial statements of the charity for tho year ended 31 July 2024. Reference and admlnlstratlve detalls Reglstered charlty name Royal Agricultural University Student Union Charlty reglslratlon number 1154402 Company reglstratlon number 08540244 Prlnclpal offlce and reglstered Royal Agricultural University offlce Slroud Road Cirencesler Gloucestershire GL7 6JS The trustees Mr H M Butson Mr M Harris Miss A Godfrey Mr G Pollard Miss C Britton-stevens Mr C Benson Mr E Horton Miss D Robinson Mr A Young Mr A Burr (Resigned 31 July 2024) (Appointed 1 August 2023) (Appointed 20 September 2024) (Appointed 20 S&plemb6r 2024) {Appointed 20 September 2024) (Appointed 20 September 2024) (Appointed 20 September 2024) (Appointed 11 November 2024) Company 8e¢retary Mr8 M Kayani {R8signed 31 August 2024) Independent examlner Duncan N Joyce ACA, CTA Duncan Joyce & Associates Limited Char1ered Accountanls 36 & 38 Cross Hay6s Malmesbury Wiltshire SN16 9BG
Royal Agricultural University Student Union Company Llmited by Guarantee Trustees, Annual Report (Incorporatlng the Director's Report) (contlnued) Year ended 31 July 2024 Structure, governance and management a) Constitutlon The Royal Agricultural University Student Union (RAUSU) is constituted under the Education Act 1994, as a charity with regulations set out by its Articles of Association. FIAUSU'S charitable objectives under the Act are to advance Ihe University's educational purposes by providing representation, support and recreational activities for the studenls of the Royal Agricullural University (the University). The Trustees of the RAUSU are as detailed on page 1. b> Legal structure The RAUSU Is a registered charity and a company limited by guarantee govemed by Its Memorandum and Articles of Association. The Trustees of tho charity are also directors for the purposes of the Companles Act. ¢) Trustees Aesponslbllltles The Trustees are responsible for the overall direction and charilable activities of tha RAUSU and for ensuring that it complies with the Charity Commission guidance on public benefit. d) Selectlon ot Trustees Olficer Trustees are appolntéd annualty by election from the student body. External Trustees ar& appointed by the Board of Truslees every three years. The Sabbatical Trustees are elected by the student body for a tarm of one year, with the option to extend the President's term for a second and flnal year by re-election from Ihe student body. e) Organlsatlonal Slructurè The President Is the senior sludent representativ8 of the RAUSU, and is accountable to the RAUSU'S Trustees and to its memberfs. The President is Supt&d by two part-time sabbatical roles,, Vice President - Learning and Vice President - Leisure. The Board of Trusteos meets up to four times a year. On behalf of the board, where required, the Presldent also reports UP lo slx time a year to the Govèrning Council of the University, which is major funding source for the Charity, Ihrough its block grant. The RAUSU also has an Execulive Committee which Is Chaired by the President. All student elected oflicers, a mix of sabbatical and volunteers. sit on the Ex8CUtive Commillee. The officer roles for th& period in question are as follows: President Vice President - Leaming Vice President- Leisure RAG (Raising and Giving) Chair RAG (Ralsing and Giving) Secretary - Welfare and Libaration Campasgns Officer Sports and Socioties Officer Fundralslng and Volunteering Officer International Officer Diversity and Global Majority Officer The Student Executive Committee meets weekly to discuss ongoing operational issues and provides the first step of the student feedback pathway. RAUSU also employs Iwo members of non-stud8nt
Royal Agricultural University Student Union Company Limited by Guarantee Trustees, Annual Report (Incorporating the Director's Report) (contlnued) Year ended 31 July 2024 full-time staff lo ensure effective management of its many activities and to Implement Ihe policy docisions made by the Trustees. f) Relationshlp wllh Royal Agrlcultural Unlversity The RAUSU receives a block grant from the Universily and occupies a building owned by the University, who pay for any utilities and struclural maintenance. The support is intrlnsic to the relationship between the University and the RAUSU and has not been valued. Although the RAUSU continues to generate supplementary funding from various activities, it will always be dependent on the support of the University. There is no reason to believe that this support will not continue for the foreseeable future, as the Education Act 1994 imposes a duty on tha University to ensure the financial viability of ils student representative body. The University therefore requires notification of any changes to the governance of the RAUSU and regular reports on the RAUSU'S activilies and finances. f) Rlsk Managemenl The Trustees ara rosponsible for the management of risks faced by the RAUSU. The Trustees have established systems to mitigate risk appropriate to Ihe size of the charity wlth a focus on finance, reputation and heallh and safety. Processes and predureS are reviewed regularly by the Trustees to mltigate these as far as posslble.
Royal Agrlcultural University Student Union Company Llmited by Guarantee Trustees, Annual Report (Incorporating the Director's Report) (contlnu8d) Year ended 31 July 2024 Oblectlves and actlvltles The primary role of the RAUSU is to ensure that students derive the maximum possible benefit from the non-academic dimension ol their life al the University. The Memorandum and Articles of Association of the RAUSU outline its objectives as: Promotlng the Interests and welfare of students of tha Royal Agricultural University during their course of study and representing, supporting and advising students; Being the recognis6d representative channel between students, the Royal Agricultural Unlversity and any other external bodies,. Providing social, cultural. sporting and recrealional activitles and forums for discussions and debate for ihe personal development of its students. Further to th8 above, and to Ihe charitls purposes for the public benefit, the main aclivities undertaken in relation to these objectives are a mix of event management, extracurricular activitie8 provislon and student ropresentation, including: Acting as prlnciple coordinator and manager ol non-academlc activlties designed to stimulate and enterlain all studonts; Acting as the primary representative of the student body in dealings with the Universily; Organlsing major soclal functions and events, including student balls, RAG events and Fyesher's Week; Organising regular weekly entertainment for all students; Managing and ¢oordinaiing the aclivilies of the RAUSU'S sports clubs and special Interest societies; Raising funds for external charitl8S through RAG, plus all associated coordination and management; Representing Ihe studenis in dealings with the NUS and on key university committees; Preparing up to six reports per year on the RAUSU activities for the Governlng Council ol the Royal Agricultural University; Managing funds, monitoring the financial position and ensuring proper accounts are kept of all income and expenditure; Positively representing the University within the local and wider community. The trustees have had regard to the Charities Commission guidance on public banefit wh8n exercising any powers or duties to which the guidance is relevanl. How the RAUSU Achleves Publlc Beneflt In pursuit of the aim for the public benefil, the RAUSU ensur68 Ihat the diversity of its membership is recognisgd, valued and supported, and has established services for use by its members. and supports its work with the University and other organisations on behalf ol students. The Officer Trustees sil on and make contributions to many University committaes, academic programme forums, and Student Voice groups, in order to elfectively caler lor the needs of students.
Royal Agricultural University Student Union Company Limited by Guarantee Trustees, Annual Report (Incorporating the Director's Report) (contInU) Year ended 31 July 2024 Achievements and performance a) Entertalnment and Events Entertainments continued as normal throughout the year. Major events Included a Christmas Party, RAG Week and the May Ball. The May Ball returned a d8ficit of £7.600 (2023 deficil of £20,400). Welcome Week costs amounted to £13,300 {2023 - £10.100). Charitable donations totalling £12,093 were made to the Su's chosen charities as a result of RAG activlties. b) Clubs and Socletles Over twenty clubs and societies were offered Ihroughoul the year. Toial resources expended were £53.992 (2023 - £42.421). c) Student Volce RAUSU representatives continued to be involved in UniversSty Commlttees and focus groups, adding their views to various iniliallves and changes introduced by the Universlly. d) Legal and Governance A projecl to review the constitution, including the review of the Board of Trustees, the elected Officer roles. and the internal RAUSU Committee structure is ongoing. Actions arlsing from the review will ba implemented as appropriate.
Royal Agricultural University Student Union Company Limited by Guarantee Trustees, Annual Report (Incorporating the Director's Report) (¢ontinuedJ Year ended 31 July 2024 Flnanclal revlew a) Resulls Achleved The Charity had incoming resources of £384,736 (2023 - £384.540) and expended £11,714 (2023 £4.451> on genorating income, £403,009 (2023 - £362.320) on its charilable activities, including £252,462 (2023 - £174.628) on governance and support costs. resulting in a deficil of In¢ome over expenditure of £29.987 {2023- £17,769 (Surplus income over expenditure)). b) Incomlng Resources The RAU providèd a grant of £268,740 (2023 - £238.740) for the financial year to support the charity. c) Resources Expended The majority ol the charity's expenditure was incurred in providing Freshers, week entertainment, fostering the sports and special inlerest societies and student support servicas for the university's students, hosting student balls and providing regular entertainments for students. d) Governance Cost8 The governance costs include the salary of the Presklent and Union Director, RAG charitable donations, other Finance and general office costs, consultation fees and other admlnlstratlV6 expenses relating to running the charity e) Overvlew The charity had a shortfall of income over expenditure of £29,987 for the year, which has reduced the reserves Carried forward. f) Reserves Pollcy The RAUSU amended Its Financial Reserves Pollcy in 2022123. The RAUSU intends to malntain res8rves at a maximum threshold of £45,000. The RAUSU intends to use the reserves In Ihe following manner: to meet approximately three months of operatlonal expenditure in the event that the Royal Agricultural University is unable to make grant payments in a timely fashion or there is a change in the rate of block grant providad. As at July 2024, RAUSU reserves were £75,407 (2023 - £105,394). Any surplus of reserves ovèr and above this threshold will be reinvested in th8 following financial year and will be expended against the Trust's charitable activities as instructed by the Trustees. g) Future Fundlng The Trustees confirm that the RAUSU has sufficient funds to meet all ol its financial obligations. The block grant for 2024125 has been agreed. The 2024125 budgel has begn approved by the Board of Trustees.
Royal Agricultural University Student Union Company Limited by Guarantee Trustees, Annual Report (Incorporatlng the Director's Report) (¢ontlnued) Year ended 31 July 2024 Plans for fulure perlods The RAUSU strategic plan aims to ensure its continued commitment to ensurlng appropriate governance and adequate staffing. It also seeks to sustain its links wilh the local communily in various projects. It hopes to continue to invest in 8nsuring value for money from all suppliers, to improve ils methods of communicating with students. and to ensure that it effectively represents every student at the University. In addition, it will also continue to engage wilh the student body to sollcit regular feedback In order to ensure the RAUSU is offering the best possible servic8 to students. Objectives for 2024125: To undertaka a transformation programme to review the current governance and operational activity of RAUSU To continue to ensure that a well-functioning Studenl Executive sits at the heart of Union activilies To wlden partlcipation and engagement with the Unlon To adopt strategic plans In line with the NUS QSU framework To ensure fair access to all activities and events for all students To embed the new RAUSU Presid8ni and Officers into thelr roles, ensuring they are fully angaged and in control of their Unlon To ensure the continued devolopment of policies and procedures To work collaboratively with the NUS, GuildHE and other partners in ensuring the RAUSU Is an exemplar of its kind To run successful campaigns and ansure an increased focus on championing democracy STATEMENT OF TRUSTEES, RESPONSIBILITIES{E5} The Trustees (who are also directors of Royal Agrkultural University Student Union for th8 purpose of company law) are responsible lor preparing the Trustees, Annual Fleporl and the financial statements in accordance with applicable law and United Kingdom Generally Accepted Accounting Practice, Company law r8quires the Trustees to prepare financial statements for each linancial year whlch give a true and fair view of the state of alfairs of the charitable company and ol the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing these flnancial statemenls, the Trustees are required to: select suitable accounting policles and then apply them consistently; observe the methods and principles in the Charilies SORP; make judgements and estimates that are reasonable and prudent; state whether applicable UK Accounting Standards have been followed, subject to any malgrial departures disclosed and explained in Ihe financial statements. and prepare the financial statements on IhÉ going concern basis unless it Is Inappropriate lo presume that the charitable company will continue in operation.
Royal Agricultural University Student Union Company Llmited by Guarantee Trustees, Annual Report (Incorporatlng the Director's Report) (contlnued) Year ended 31 July 2024 The Trustegs are resF)onsible for keeping proper accounting records which disclose with reasonabla accuracy at any time the financial position of the charitable company and which enable them to ensuro that the financial statements compEy with the Charities Act 2011, the Charity (Accounts and Reports) Rogulations 2008, and the Companies Act 2006. They are also responsible for safeguarding the assets of lh6 charilable company and hence for taking reasonable steps for the prevention and detection of fraud and olher irregularities. This report has been prepared in accordance with the provlsions applicablo to companies entitled to small companies, exemption. Small company provlslons Thls report has baen prepared in accordance with the provisions applicable to companies entitled to the small companigs exemption. The trustees, annual report was approved on 22 April 2025 and signed on bahalf of the board of trustees by: Mr G Pollard Trustee
Royal Agricultural University Student Union Company Limited by Guarantee Independent Examiner's Report to the Trustees of Royal Agricultural University Student Union Year ended 31 July 2024 I report to the trustees on my examination of the financial statements of Royal Agricultural University studenl Union ('the charily,) for the year ended 31 July 2024. ResponsibllStles and basls of report As the trustees of the company (and also its directors for the purposes of company law> you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 ('the 2006 Act,). Having satisfied myself that the accounts of the company are not requlred to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the charity's accounts as carried out under section 145 of the Charities Act 2011 ('the 2011 Act,), In carrying out my examination I have followed the Directions given by the Charity Commlssion under section 14515)(b} of the 2011 Act. Independent examlnerfs Statement Since the charity's gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that l am qualified to undertake the examinatlon because l am a member of the Institute of Chartered Accountants in England and Wales (ICAEW), which Is one of the listed bodies. I have completed my examlnation. I confirm that no matters have come to my attentlon in connection with the examination giving me cause to believe: accounling records were not kept in respect of the charity as requlred by section 386 of the 2006 Act. or the financial statements do not accord with those records., or the financial statements do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a 'true and fair, view whlch is noi a matter considered as part of an independent examinatlon: or the financial statements have not been prepared in accordance with the methods and princlples of the Statement of Recommended Practice for accounting and reportlng by Gharities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102),
Royal Agricultural University Student Union Company Limited by Guarantee Independent Examiner's Report to the Trustees of Royal Agricultural University Student Union (contlnued) Year ended 31 July 2024 I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. Duncan N Joyce ACA, CTA Duncan Joyce & A880clate8 Llmited Chartered Accountants 36 & 38 Cross Hayes Malmesbury Wiltshire SN16 9BG 25 April 2025, 10
Royal Agricultural University Student Union Company Limited by Guarantee Statement of Flnanclal Activltles (including Income and expenditure account) Year ended 31 July 2024 2024 Unrestricted funds Tolal funds Tolal funds 2023 Note Income and endowments Donations and legacies Charitable aclivities 268,740 115,996 268,740 115,996 238,740 145,800 384,540 Total Income 384,736 384,736 Expendllure Expenditure on raising funds.. Costs of raising donations and legacies Expenditure on charltable activities Tolal expendlture (11,714) {11,714) (4.451) (403,009) (403,009) (362.320) (414,723) (414,723> {366,771) Net {expendltureyln¢ome and net movement In funds (29,987) (29,987) 17.769 Reconclllatlon of funds Total funds brought forward Total funds carrled forward 105.394 105,394 87,625 75,407 75,407 105,394 The statement of linancial activities Includes all gains and losses recognised in the year. All income and expendiiure derive from continuing activities. The notes on pa9e$ 13 to 20 form part of these Ilnan¢ial statements. 11
Royal Agricultural University Student Union Company Limited by Guarantee ststement of Flnancial Posltlon 31 July 2024 2024 2023 Note Fixed assets Tangible fixed assets 15 9,109 9,646 Current assets Stocks Debtors Cash at bank and in hand 16 17 6,983 10,337 108,546 5,199 719 110,712 125.866 116,630 Credltors: amounts falllng due wlthln one year Net current assets 18 (59,568) 66,298 (20,882) 95,748 105,394 Total assets less current liabllltles 75,407 75,407 Net assets 105,394 Funds of the charlty Unrestricted funds 75.407 105,394 Tolal charlty funds 20 75,407 105,394 For the year ending 31 July 2024 the charity was entitled to exemption from audit undar section 477 ot the Companies Act 2006 relating to small companies. Directors, r8sponsibilities: The mambers have not required Ihè company to obtsin an audit of its financial statements for the year in question in accordance with seclion 476: The direclors acknowledge thelr responslbilities for complying with the requirements of the Act wilh respect to accounting records and the preparalion of financial statemenls. These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies, regime. These financial statements were approved by Ihe board ol trustees and authorised for issue on 22 April 2025. and are signed on behalf of the board by: Mr G Pollard Truslee The notes on pages 13 to 20 form parl of thes8 Ilnancial statements. 12
Royal Agricultural University Student Union Company Limited by Guarantee Notes to the Financlal Statements Year ended 31 July 2024 General Informatlon Th& charily is a public benefit entity and a private company limited by guarantee, registered in England and Wales and a registerèd charity in England and Wales. The address of the registered office is Royal Agricultural University, Stroud Road, Cirencester, Gloucestershire, GL7 6JS. Statement of compllance These financlal statements have been prepared in compliance with FRS 102, 'The Financlal Reporting Standard applicable in the UK and the Republic of Ireland,, the Statement of Recommended Practice appluble to charities preparing their accounls in accordance with the Flnancial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (Charities SORP (FRS 102)) and th8 Companles Act 2006. A¢¢ountlng pollcles Debtor8 Trade and other debtors are recognised al the settlement amount due after any trade discounts offered. Prepayments are valued at the amount prepaid after taking into account any Irade discounts due. Basls of preparatlon The financial statements have been propared on the historical costs basis. The financial statements are prepared In sterling, which is the functional currency of the enlity. Taxallon The charlty is exempt from corporation lax on its charitable activities. Golng concern There are no matarial uncertainties about the charity's ability to continue, Cyedllors Creditors are recognlsed where the charity has a present obligatlon resulting from a past event that will probably result in a transfer of funds to a third party and the amount due lo settle the obligation can be measured or estimated reliably. Creditors are normally recognised at their settlement amount after allowing for any trade discounts, 13
Royal Agricultural University Student Union Company Limited by Guarantee Notes to the Financlal Statements (contlnuod) Year ended 31 July 2024 Dlsclosure exemptions The entity satisfies the criteria of being a qualifying entity as defined In FRS 102. As such. advantage has been taken of the following disdosure exemptions available under paragraph 1.12 of FRS 102., (a) No cash flow statement has been presented lor Ihe company. (b) Disclosures in respect of financial instruments have not been presented. Judgements and key sources of e8tlmation uncertalnty The preparation of the financial slalements requires management to maka judgements, eslimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectatlons of future events that are believed to be reasonable under the circumstances. Fund accounllng Unrestricted lunds are availablo for use at the discretion of the trustees to furthar any of the charity's purposes. Designated funds are unrestricted funds earmarked by the Iruste8s for partl¢ular future proj8Ct or ommitment. Restricted funds are subjected to iestriclions on their expenditure declared by tha donor or through the temis of an appeal, and fall into one of two sub-classes: r8Stricted income funds or endowmenl funds. Incomlng re80urce8 All incoming resources are included in tha statement of financial activities when entitlemant has passed to Ihe charity; it is probable that the economic benefils associated with the transaction will flow to the charity and lh8 amount can be reliably measured. The following specific policies are applied to particular categories of income: Income from donations or grants is recognised when ther8 is evidence of entitlement to the glft, receipt is probable and its amount can be measured reliably. 18gacy income is recognised when receipt is probable and entitlement is establlshed. income from donated goods is measured at the fair value of the goods unlass this is impractical to measure reliably. in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilitles and services are recognised in Ihe accounts when received if the value can be reliably measured. No amounts are included for the contribution of general volunteers. income trom contracts for the suppty of Se[CoS is recognised with the delivery of the contracted service. Thls is classrfied as unreslricted funds unless there is a contractual requirament lor it to be spent on a particular purpose and returned if unspent, in whlch case it may be regarded as restricted. 14
Royal Agricultural University Student Union Company Llmited by Guarantee Notes to the Financial Statements {¢ontlnued) Year ended 31 July 2024 Accountlng policles (contlnued) Re8our¢es expended Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is dassified under headings of the statemenl of financial activities to which it relates: expenditure on raising lunds includes the costs of all fundraising activities, events, non-charitable trading activities, and the sale of donated goods. expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries. including those support costs and costs relating to the governance ol the charity apportioned to charitable activilies. other expenditure includes all expenditure that is neilher related to ralsing funds for th6 charity nor part of ils expenditure on charilable activities. All costs are allocated to 6xpenditur8 calegories reflecting the use of the resource, Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportion6d between the actlvities they conlribute to on a reasonable, justifiable and consistent basis. Tanglble as8et8 Tanglbla assets are initially recorded al cost, and subsequently stated at cost less any accumulated depreciatlon. Depreclatlon Depreciation is calculated so as to write off Ihe cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows.. Fixtures and fittings Motor vehicles 259A reducing balance 25 /• reducing balance Stocks Stocks are measured at th8 lower of cost and estimated selling price less cosls to complete and sell. Cost includes all costs of purchase, costs of conversion and oth&r costs incurred in bringing the stock to its present location and condition. Llmlted by guarantee Royal Agricullural University Student Union is a company Ilmited by guarantee and accordingly does nol have a share capital. Every member of the company undertakés to contribute such amount as may be required not exceeding £10 to the assets of tho charitable company in the event of its being wound up while he or she is a member, or within ono year afler he or she ceased to be a member. 15
Royal Agricultural University Student Union Company Llmited by Guarantee Notes to the Financlal Statements (conrlnued) Year ended 31 July 2024 Donatlons and legacles Unrestricted Total Funds Unrestricled Total Funds Funds 2024 Funds 2023 Grants Royal Agricuiiural University grant receivable 268,740 268.740 238,740 238,740 Charltable actlvltles Unrestricted Total Funds Unrestricted Total Funds Funds 2024 Funds 2023 Shop sales Fund raising actlvities Dances, dinners and other ticketed events Sports club subscriplions and events Social club subscriptions and events 3,763 26,232 3,763 26.232 4,001 21,189 4,001 21,189 59,495 14,381 12,125 59,495 14,381 12,125 96,483 10,267 13,860 145,800 96,483 10,267 13,860 115,996 115,996 145,800 Costs of ralslng donatlons and legacle8 Unrestricted Total Funds Unrestricted Total Funds Funds 2024 Funds 2023 Shop purchases Sundry lundraislng costs 1,742 9,972 11,714 1,742 9,972 477 3,974 477 3,974 11,714 4,451 4,451 Expendlture on charltable acllvllies by fund type Unrestricted Total Funds Unrestricted Total Funds Funds 2024 Funds 2023 Dinners, dances and other ticket events Sports club costs, matches and competilions Social club activities and events Student support activities Support costs 83,556 83,556 126,171 126,171 45,457 8,535 12,999 252.462 45,457 8,535 12,999 252,462 30,840 11,581 19,100 174,628 30.840 11.581 19,100 174,628 362,320 403,009 403,009 362,320 16
Royal Agricultural University Student Union Company Limited by Guarantee Notes to the Flnancial Statements {contln(rtdJ Year ended 31 July 2024 Expendlture on charltable acllvltles by actlvlty type Activities undertaken directly Support costs Total funds 2024 Total fund 2023 Dinners, dances and other ticket events Sports club costs, matches and competitlons Social club activities and events Student support activities Governance costs 83.556 83.556 126,171 45,457 8,535 12,999 45.457 8.535 12.999 252,462 403,009 30,840 11,581 19.100 174,628 252,462 252,462 150,547 362,320 10. Taxatlon The charity's activities fall within th6 exemptions afforded by Ihe provision ol Incomo and Corporation Taxes Act 1988. Accordingly there Is no taxation charge in the accounts. 11. Net (expendltureyincome Net (expendlture)lincome is stated after chargingl(crediting): 2024 2023 Depreclation of tangible fixed assets 2,537 2,537 12. Independent examlnallon fee8 2024 2023 Fees payable to the Independent examinar for: Independent examlnation of tha financial statements 2,100 2,000 13. Staff cos18 The total stafl costs and employ86 benefits for the reporting perlod are analysed as follows: 2024 2023 Wages and salarigs Social security costs Employer contributions lo pension plans 187,881 8,087 1 ,220 197,188 99,587 6,081 755 106,423 17
Royal Agricultural University Student Union Company Limited by Guarantee Notes to the Financial Statements (contlnued) Year ended 31 July 2024 13. Staff costs (contlnu8d) The average head count of employees during the year was 8 (2023., 9). The average number of full-time equivalent employees during the year is analysed as follows.. 2024 No. 2023 Trustees Administration No employee rec6ived employee benefits of more Ihan £60,000 during the year {2023.' Nil). 14. Trustee remuneratlon and expenses No remuneration, benefits In kind were made io any of the charity's trustees durlng the year {2023 - £Nil). Expenses of £123 (2023- £151) were paid to trustees during the year &nded 31 July 2024. 15. Tanglble flxed assets Flxtures and f ittings Motor vehiclas Total Cost At 1 August 2023 Additions 20,271 2,000 22,271 16,500 36,771 2,000 38,771 At 31 July 2024 Depreclatlon At 1 August 2023 Charge for tho year Al 31 July 2024 Carrylng amount At 31 July 2024 Al 31 July 2023 16,500 13,970 1,700 13,155 837 27,125 2,537 15,670 13,992 29.662 6,601 2.508 9,109 6,301 3,345 9,646 18
Royal Agricultural University Student Union Company Limited by Guarantee Notes to the Flnanclal Statements (contlnued) Year ended 31 July 2024 16. Slocks 2024 2023 Goods for resale 6.983 5,199 17. Debtors 2024 2023 Trade debtors Prepayments and accrued income Other debtors 3,473 2,485 4,379 719 10,337 719 18. Credllors: amounts falllng due wlthln one year 2024 2023 Trad8 creditors Accrual8 and deferred income Social security and other taxes 2,336 57.232 993 17,350 2,539 20,882 59,568 19. Penslons and other post retlrement beneflts Deflned contrlbullon plans The amount recognised in incom8 or expendlture as an expense in relation to defined contribution plans was £1,220 (2023: £755). 20. Analysls ot charltable funds Unre8trlcled funds At 1 August 202 At Income Expendilure 31 July 2024 General lunds 105.394 384.736 (414,723) 75,407 At 1 August 202 At Income Expenditure 31 July 2023 General funds 87,625 384,540 (366,771) 105.394 19
Royal Agricultural University Student Union Company Limlted by Guarantee Notes to the Flnancial Statements (contlnued) Year ended 31 July 2024 21. Analysls of net assets between funds Unrestricted Total Funds Funds 2024 Tangible fixed assets Current assets Creditors less Ihan 1 year Nel assels 9,109 125,866 (59,568) 75.407 9,109 125.866 (59.568) 75,407 Unrestrlcted Total Funds Funds 2023 Tangible fixed assets Current assels Creditors less than 1 year Net asset$ 9,646 116,630 {20,882) 105.394 9,646 116.630 (20,882) 105,394 20