DocuSign Envelope ID: D8FDD8AA-FDFA-485E-9545-3C48E1AFB92A
Charity number: 1155621
ST JOHN'S COMMON ROOM
UNAUDITED
TRUSTEES' REPORT AND FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 JUNE 2023
DocuSign Envelope ID: D8FDD8AA-FDFA-485E-9545-3C48E1AFB92A
| ST JOHN'S COMMON ROOM | |
|---|---|
| CONTENTS | |
| Page | |
| Reference and Administrative Details of the Charity, its Trustees and Advisers | 1 |
| Trustees' Report | 2 - 9 |
| Independent Examiner's Report | 10 |
| Statement of Financial Activities | 11 |
| Balance Sheet | 12 |
| Notes to the Financial Statements | 13 - 27 |
DocuSign Envelope ID: D8FDD8AA-FDFA-485E-9545-3C48E1AFB92A
ST JOHN'S COMMON ROOM
REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE PERIOD ENDED 30 JUNE 2023
| Trustees | Miss Alice Butler (resigned 1 July 2022) |
|---|---|
| Reverend Susannah Curtis (appointed 12 June 2023) | |
| Ms Carys Funnell (resigned 16 February 2023) | |
| Ms Katherine Hickson, Chair | |
| Mr Martin Hodgetts | |
| Mr Thomas Jackson (resigned 1 July 2023) | |
| Ms Jennifer Knox (resigned 17 October 2022) | |
| Ms Sarah Quinn (resigned 19 March 2022) | |
| Ms Anna Robinson (appointed 1 July 2022) | |
| Ms Emily Martin (appointed 1 July 2022, resigned 1 July 2023) | |
| Ms Elaine Grant (appointed 19 March 2022, resigned 18 March 2023) | |
| Mr Nickolas Tan (appointed 31 January 2022, resigned 1 July 2022) | |
| Ms Libby Wright (appointed 1 July 2023) | |
| Mr Benjamin Dickinson (appointed 1 July 2023) | |
| Ms Emily McDonald (appointed 18 March 2023) | |
| Ms Isabelle Hubbert (appointed 17 October 2022) | |
| Charity registered number 1155621 Principal office St John's College 3 South Bailey Durham Co. Durham DH1 3RJ Honorary Treasurer Thomas Jackson (resigned 1 July 2022) Anna Robinson (appointed 1 July 2022) (resigned 1 July 2023) Ben Dickinson (appointed 1 July 2023) Accountants Ryecroft Glenton Chartered Accountants 32 Portland Terrace Newcastle upon Tyne Tyne and Wear NE2 1QP |
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ST JOHN'S COMMON ROOM
TRUSTEES' REPORT FOR THE PERIOD ENDED 30 JUNE 2023
The Trustees present their annual report together with the financial statements of the Charity for the period 1 January 2022 to 30 June 2023. The comparative period was for the year to 31 December 2021.
The financial statements have been prepared in accordance with the accounting policies set out in the notes to the financial statements and comply with the charity’s governing document, the Charities Act 2011 and the relevant version of the Statement of Recommended Practice applicable to charities preparing their financial statements in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
Objectives and activities
Policies and objectives
The SJCR's policies and objectives are identical to its charitable objects which are the advancement of education of students at St John's College for the public benefit by:-
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promoting the interests and welfare of students at St John's College during their course of study and representing, supporting and advising students;
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being the recognised representative channel between students and St John's College and any other external bodies; and
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providing social, cultural, sporting and recreational activities and forms for discussions and debate for the personal development of its students.
The SJCR seeks to ensure fair treatment of all its members in the execution of its charitable objects.
In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit, including the guidance 'Public benefit: running a charity (PB2)'.
Activities undertaken to achieve objectives
The SJCR achieves its objectives through:
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making grants to organisations;
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providing building facilities;
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providing advocacy, advice, information and other services; and
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acting as an umbrella and resource body.
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ST JOHN'S COMMON ROOM
TRUSTEES' REPORT (CONTINUED) FOR THE PERIOD ENDED 30 JUNE 2023
Objectives and activities (continued)
Main activities undertaken to further the Charity's purposes for the public benefit
The Trustees confirm that they have complied with the duty in section 17 of the Charities Act 2011 to have due regard to public benefit guidance published by the Charity Commission in determining the activities undertaken by the charity.
The Charity Commission in its public benefit guidance states that there are two key principles to be met in order to show that an organisation’s aims are for the public benefit: first there must be an identifiable benefit and, secondly, that the benefit must be to the to the public or a section of the public. The Trustees are satisfied that the aims and objectives of the charity, and the activities reported on above to achieve those aims meet these principles.
The Trustees achieve their objectives primarily through the running of social and educational events for our members as well as allowing personal development and recreation.
Achievements and performance
Key performance indicators
Subscription income £34,849 Net surplus on fundraising activities £9,656
Review of activities
The SJCR made the decision to change its accounting year in 2022, moving from running January – December to July – June. This necessitated a one-off 18-month accounting period, and this is the period of this report.
The period covered by this report saw the SJCR complete a return to pre-pandemic activities, and there was a huge amount of pervasive joy and excitement as wider student life was finally able to take place near unencumbered.
This period also saw the SJCR complete a new strategy document organised under 5 headings, and what follows is a report on the SJCR’s work and progress in 2022/23 in these 5 categories.
Charitable Objectives
It has been a great challenge to run events and activities without the experience and memory within the relevant teams, but this is a challenge that core volunteers have risen to admirably, with certain precedents replaced with well-developed new ones.
A new structure for the Welfare team was devised and implemented, with the successful introduction of the SJCR Campaigns and Inclusivity Officer in place of the SJCR Welfare Events Officer to help support representation in John’s. Meanwhile it was a very successful period for SJCR sports teams and societies, with notable achievements in football and rugby, and spectacular joint John’s Music Society and Bailey Theatre Company performances of “Joseph” and “Phantom of the Opera”. This speaks of generally high and muchimproved engagement with SJCR activities, and indeed this has been seen in higher attendance of SJCR meetings compared to recent years. Durham SU has removed an explicit representative role from the SJCR from their governance structures, but dialogue is continuing regarding effective ways forward to replace this.
Freshers’ Week received positive feedback regarding inducting new students into the College, and both the Freshers’ Representatives and new students have generally become engaged more widely in Common Room activities.
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ST JOHN'S COMMON ROOM
TRUSTEES' REPORT (CONTINUED) FOR THE PERIOD ENDED 30 JUNE 2023
Achievements and performance (continued)
It has been a challenging time for students, with high levels of inflation contributing to increases in the cost of living for students, especially considering very large rent increases announced for 2023 in both University and privately managed accommodation. Whilst a large portion of SJCR and St John’s student-life activities are free, with an even greater portion free to SJCR members, there is still a significant cost associated with the largest events, particularly when set against the backdrop of the wider student situation.
Engagement and Communication
Especially in Freshers’ Week, a focus on single lines of information in the form of a “Linktree”, combined with particular focus on Instagram, has contributed towards high levels of engagement with SJCR activities. A database has been begun for past exec and in amongst the proposed governance changes to become a CIO there is a proposal for an SJCR Secretary to support with SJCR administrative work.
Volunteers have generally been less engaged in this period compared to prior the pandemic. This affects all areas of student life and is partly the result of a loss of institutional knowledge and a lack of visibility in previous (COVID) years, such that even students elected have often been unaware of the true scope of volunteer roles. Additionally, committees and teams have often failed to develop a culture of supporting each other and a team spirit. This may be partially due to vacancies and hence staggered elections, as well as a lack of time spent together.
A large amount of work has been put into supporting volunteers this year, ranging from providing drop-ins and training to rewriting role descriptions, and this is beginning to pay dividends, but is a long-term project.
The MCR had an active year and the reach of SJCR activities to postgrads was much increased, with all MCR executive positions filled. The CCR also had a successful year, with a calendar of social events and an engaged executive. Active Communications work saw the noticeboards and social media of the College consolidated, with a project undertaken to safeguard future access to the various accounts.
Governance
Constitutional Reform Committee was convened in 2022 to begin the move of the SJCR towards becoming a Charitable Incorporated Organisation, and by the end of the 2022-23 academic year this work was concluded such that the transition to the new Charity can begin. This work has been expansive and also seen a completely new SJCR Constitution drafted, with a number of significant areas for work identified, including expanding the Trustee Board.
Carys Funnell stepped down as SJCR Trustee Board Chair in early 2023 and was replaced by Katie Hickson. This has left a vacancy on the board which the board have elected to delay advertising for until after the move to becoming a Charitable Incorporated Organisation is completed.
Additionally, the SJCR Trustee Board passed a number of resolutions to clarify how resolutions can be passed and worked to clarify procedures. A major piece of work was undertaken to produce an Annual Cycle of Tasks that lists the various communications and items of business that would normally be undertaken in a yearly academic cycle for both the trustee board and wider executive.
Significant effort was undertaken by the executive to rewrite and review policies of the SJCR to ensure best practice is codified. By the end of the academic year 2022-23 all policies in the SJCR Strategy Document are expected to have been reviewed, and a new Memorandum of Agreement between the SJCR and St John’s College is expected to have been drafted.
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ST JOHN'S COMMON ROOM
TRUSTEES' REPORT (CONTINUED) FOR THE PERIOD ENDED 30 JUNE 2023
Achievements and performance (continued)
Representation
The SJCR has adopted significant Policy positions and campaigned for rent reductions and additional funding from the University this year, in an effort to support student interests and ensure SJCR activities can remain as affordable as possible in challenging national circumstances.
Meanwhile a review of the role and organisation of Welfare Representation Committee took place to help create effective channels to support for minority representation in the College. A successful Lunar New Year formal took place and was very well received, whilst Respect and Values training took place for all members of the Freshers’ Week Team. Two further John’s Pride events and Pride formals also took place in the period considered, and these were both very well received celebrations of the LGBTQ+ community at St John’s. However, we recognise further work is needed to ensure the channels available are used and all students feel welcome as a result.
The diversity of SJCR teams is reflective of the diversity of those who engage with SJCR governance, but still lags behind the diversity of our community, with engaging with international students a particular priority. However, engagement with first-year international students (as a result of a successful programme of international activities) and a highly effective MCR (which contains a high portion of international students) suggest a brighter future in this area.
The relationship between the SJCR and St John’s College has been positive and collaborative this year. Notably, the appointment process for a new College Principal has showcased the College’s drive to engage with student leaders at a governance level, with SJCR student leaders being involved in all stages of the recruitment process. The involvement of student leaders in recruitment for other positions has also been healthy, and conflicts have consistently been resolved satisfactorily.
All SJCR events are open to MCR and CCR members, and anecdotally we believe the numbers of attendees of central SJCR events from these groups has materially increased over the time period considered. This is testament to active executives of the subsidiary common rooms and a particularly effective Postgraduate Welcome Week.
Sustainability
John’s Eco Society was replaced by Environment Committee at the start of 2023 as a sub-committee of the SJCR, and effective work has taken place in this space to develop sustainability goals for the SJCR. The Finance Committee has effectively reviewed expenditure and we believe our financial position entering the 202324 academic year is strong.
Additionally, the SJCR’s student services offering developed significantly during this time period. Notably a change in gown supplier led to a reduced cost of gowns for students, increased margin to ensure SJCR gown sales are sustainable, and gowns made from recycled material. The sale of college branded clothing was also brought in-house to the SJCR in 2022, and this gives the charity an additional potential revenue stream and additional flexibility about what is sold and at what price.
Summary
Overall, it has been an extremely successful and exciting period for the SJCR. The SJCR is meeting its charitable objectives through all its pre-pandemic activities, is engaging with students, is subject to effective governance, is representing student interests, is resilient and sustainable, and is well positioned leading into the major structural change that is now underway.
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ST JOHN'S COMMON ROOM
TRUSTEES' REPORT (CONTINUED) FOR THE PERIOD ENDED 30 JUNE 2023
Achievements and performance (continued)
Fundraising activities and income generation
The Common Room works in partnership with College and University in the induction of new students during “Fresher’s week”. Inducting new students into the common room effectively increases income gained through membership fees.
Financial review
Going concern
After making appropriate enquiries, the Trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements.
Reserves policy
The SJCR and the board of trustees adopted a reserves policy to protect against potential losses through services, sports and societies and the largest social event. These were chosen as basis of the reserves policy as they are the most likely to fluctuate.
It should also be noted that the financial year now falls at the end of the academic year and so at the balance sheet date most of the sums from that academic year’s subscription would have been spent.
On 30th June 2023, the SJCR held £51,348 in reserves, of which £59,114 was cash at bank and in hand which the Trustees consider to be reasonable and in line with the above policies.
Financial review
As these financial statements indicate, the Charity has a sound financial base. One of the aims of the Trustees is to secure the long-term future of the Charity by careful and prudent management of its assets. As of 30 June 2023 the Charity had net assets of £51,348 (2021: £75,731) and it is the opinion of the trustees that the existing reserves are sufficient to meet any reduction in incoming resources in the foreseeable future.
Structure, governance and management
Constitution
Throughout the period the charity was controlled by its governing document, the St John’s College SJCR Constitution (“The Constitutional Documents of the John’s Common Room”). The governing document, ratified and adopted on 02 February 2011. Its most up to date form was ratified on 24 November 2020, due to a referendum.
The SJCR was registered as an independent charity on 4 February 2014 (registered number 1155621), it was an unregistered charity prior to this point. The constituition was adopted on 16 February 2023 as amended on 7 March 2016.
Under the current Constitution, the SJCR and its property is managed and administered by a Board of Trustees. The Board consists of The SJCR President, Treasurer and three Vice-Presidents and Four External Trustees. Internal and External Trustees are appointed in accordance with the procedures stated in the constitutional documents.
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ST JOHN'S COMMON ROOM
TRUSTEES' REPORT (CONTINUED) FOR THE PERIOD ENDED 30 JUNE 2023
Structure, governance and management (continued)
Methods of appointment or election of Trustees
Internal Trustees are nominated by SJCR members for appointment by the Board of Trustees. External Trustees are voted upon in general meetings of the Trustee Board and then ratified by a general meeting of members, holding their position for up to two terms of four years.
Organisational structure and decision-making policies
The SJCR elects members of the SJCR to various officer roles, with varying responsibilities; of these, thirteen are members of the Executive Committee. The SJCR Executive Committee acts as a Management Committee and usually meets weekly, and failing that, fortnightly, during term time. Of the thirteen, a core of five are members of the Tier 1 Executive Committee, who are the five Internal Trustees.
All policy, planning and major financial or strategic decisions must either be approved by a SJCR general meeting or a Trustee meeting, or, when appropriate, both. Operational decisions are made by the appropriate SJCR Officers.
Policies adopted for the induction and training of Trustees
Trustees are given in-house training on their responsibilities as well as the governing structure of the SJCR. Training and induction are delivered by the Chair of Trustees. New Trustees are also referred to the charities commission website for help.
Pay policy for key management personnel
The President’s employment of 30 hours per week is legally out-sourced by the SJCR to St John’s College (Charity No. 1141701) in order to ensure adherence to employment law, good practice and taxation matters. The monies for the President’s salary are transferred from the SJCR to St John’s College, and proper records kept. No other Trustees are remunerated in any way.
Related party relationships
The SJCR is recognised by St John’s College as the student representative body as agreed upon by a memorandum of agreement. We take on some joint activities mainly through St. John’s College, which is part of the University of Durham, such as open days, academic and social events. The SJCR works in collaboration with the Durham Students Union and consequently the National Union of Students, both of which provides wider representation for SJCR members and also offers guidance and support. The SJCR is partnered with the University of Durham, which provides space and facilities to members. We accept funding from University of Durham on a per member basis. We have strong links with various other academic and student bodies connected to St John’s College and the University of Durham generally.
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ST JOHN'S COMMON ROOM
TRUSTEES' REPORT (CONTINUED) FOR THE PERIOD ENDED 30 JUNE 2023
Structure, governance and management (continued)
Risk management
The Trustees have assessed the major risks to which the charity is exposed, in particular those related to the operations and finances of the charity, and are satisfied that systems and procedures are in place to mitigate our exposure to the major risks.
The Trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud, reputation, and error. There currently is a risk register, which is reviewed annually. Further policies and protocols in include: the Financial Procedures of the Common Room, including cash and card handling policies as well as a whistleblowing procedure; the Memorandum of Agreement between the Trustees and College Council; and Common Room Representation on College Room Representation on College Council and Committees.
Plans for future periods
Major projects or activities in the foreseeable future include:
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Host fundraisers to finance activities of the charity
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Continue to provide previously listed services to members of the SJCR
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Continuing to operate in the best interests of the members within the changing landscape of higher education in the UK
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Complete transfer to a charitable incorporated organisation
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ST JOHN'S COMMON ROOM
TRUSTEES' REPORT (CONTINUED) FOR THE PERIOD ENDED 30 JUNE 2023
Statement of Trustees' responsibilities
The Trustees are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The law applicable to charities in England & Wales requires the Trustees to prepare financial statements for each financial which give a true and fair view of the state of affairs of the Charity and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Trustees are required to:
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles of the Charities SORP (FRS 102);
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make judgments and accounting estimates that are reasonable and prudent;
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state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any material departures disclosed and explained in the financial statements;
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Charity will continue in business.
The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Charity's transactions and disclose with reasonable accuracy at any time the financial position of the Charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the Trust deed. They are also responsible for safeguarding the assets of the Charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Approved by order of the members of the board of Trustees on 23 February 2024 and signed on their behalf by:
Ms Katherine Hickson Chair of Trustee Board
Ms Anna Robinson SJCR President
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ST JOHN'S COMMON ROOM
INDEPENDENT EXAMINER'S REPORT FOR THE PERIOD ENDED 30 JUNE 2023
Independent Examiner's Report to the Trustees of St John's Common Room ('the Charity')
I report to the charity Trustees on my examination of the accounts of the Charity for the period ended 30 June 2023.
Responsibilities and Basis of Report
As the Trustees of the Charity you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the 2011 Act').
I report in respect of my examination of the Charity's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Independent Examiner's Statement
Your attention is drawn to the fact that the Charity has prepared the accounts in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has been withdrawn.
I understand that this has been done in order for the accounts to provide a true and fair view in accordance with the Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
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accounting records were not kept in respect of the Charity as required by section 130 of the 2011 Act; or
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the accounts do not accord with those records; or
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the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a 'true and fair' view which is not a matter considered as part of an independent examination.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
This report is made solely to the Charity's Trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state to the Charity's Trustees those matters I am required to state to them in an Independent Examiner's Report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the Charity and the Charity's Trustees as a body, for my work or for this report.
Signed: Dated: 23 February 2024 Deborah Graham, FCA
Ryecroft Glenton 32 Portland Terrace Newcastle upon Tyne NE2 1QP
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ST JOHN'S COMMON ROOM
STATEMENT OF FINANCIAL ACTIVITIES FOR THE PERIOD ENDED 30 JUNE 2023
| Note Income from: Donations and legacies 3 Charitable activities 4 Other trading activities 5 Other income Total income Expenditure on: Raising funds 6 Charitable activities 8 Total expenditure Net movement in funds Reconciliation of funds: Total funds brought forward Net movement in funds Total funds carried forward |
Unrestricted funds 18 months ended 30 June 2023 £ 53,866 44,954 72,747 568 172,135 63,091 133,427 196,518 (24,383) 75,731 (24,383) 51,348 |
Total funds 18 months ended 30 June 2023 £ 53,866 44,954 72,747 568 172,135 63,091 133,427 196,518 (24,383) 75,731 (24,383) 51,348 |
Total funds year 31 December 2021 £ 43,557 19,747 28,425 57 91,786 |
|---|---|---|---|
| 20,642 60,256 80,898 |
|||
| 10,888 | |||
| 64,843 10,888 75,731 |
The Statement of Financial Activities includes all gains and losses recognised in the period.
The notes on pages 13 to 27 form part of these financial statements.
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ST JOHN'S COMMON ROOM
BALANCE SHEET AS AT 30 JUNE 2023
| Note Fixed assets Investments 13 Current assets Stocks 14 Debtors 15 Cash at bank and in hand Creditors: amounts falling due within one year 16 Net current assets Total assets less current liabilities Total net assets Charity funds Unrestricted funds 17 Total funds |
1,670 6,437 59,114 67,221 (19,177) |
30 June 2023 £ 3,304 3,304 48,044 51,348 51,348 51,348 51,348 |
965 9,695 69,851 80,511 (7,926) |
31 December 2021 £ 3,146 |
|---|---|---|---|---|
| 3,146 72,585 |
||||
| 75,731 | ||||
| 75,731 | ||||
| 75,731 | ||||
| 75,731 |
The financial statements were approved and authorised for issue by the Trustees on 23 February 2024 and signed on their behalf by:
Ms Katherine Hickson Chair of Trustees
Ms Anna Robinson SJCR President
The notes on pages 13 to 27 form part of these financial statements.
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ST JOHN'S COMMON ROOM
NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 30 JUNE 2023
1. General information
St John's Common Room Trust is a registered charity, number 1155621. The charity is unincorporated and its registered office is St John's College, 3 South Bailey, Durham, Co. Durham, DH1 3RJ.
2. Accounting policies
2.1 Basis of preparation of financial statements
The financial statements have been prepared in accordance with the Charities SORP (FRS 102) - Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.
The financial statements have been prepared to give a 'true and fair' view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a 'true and fair' view. This departure has involved following the Charities SORP (FRS 102) published in October 2019 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.
St John's Common Room meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.
2.2 Going concern
After making appropriate enquiries, the Trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements.
2.3 Income
All income is recognised once the Charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.
2.4 Expenditure
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources.
Expenditure on raising funds includes all expenditure incurred by the Charity to raise funds for its charitable purposes and includes costs of all fundraising activities events and non-charitable trading.
Expenditure on charitable activities is incurred on directly undertaking the activities which further the Charity's objectives, as well as any associated support costs.
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ST JOHN'S COMMON ROOM
NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 30 JUNE 2023
2. Accounting policies (continued)
2.4 Expenditure (continued)
All expenditure is inclusive of irrecoverable VAT.
2.5 Investments
Fixed asset investments are a form of financial instrument and are initially recognised at their transaction cost and subsequently measured at fair value at the Balance Sheet date, unless the value cannot be measured reliably in which case it is measured at cost less impairment. Investment gains and losses, whether realised or unrealised, are combined and presented as ‘Gains/(Losses) on investments’ in the Statement of Financial Activities.
2.6 Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks.
2.7 Debtors
Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
2.8 Cash at bank and in hand
Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
2.9 Liabilities and provisions
Liabilities are recognised when there is an obligation at the Balance Sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.
Liabilities are recognised at the amount that the Charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.
2.10 Financial instruments
The Charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.
2.11 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 Charity and which have not been designated for other purposes.
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ST JOHN'S COMMON ROOM
NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 30 JUNE 2023
3. Income from donations and legacies
| Unrestricted funds 18 months ended 30 June 2023 £ Donations 41 Grants - Durham University 18,976 Student membership subscriptions 34,849 53,866 Unrestricted funds year 31 December 2021 £ Donations 15 Grants - Durham University 11,903 Student membership subscriptions 31,639 43,557 Income from charitable activities Unrestricted funds 18 months ended 30 June 2023 £ Income from charitable activities - Student welfare and development 44,954 |
Total funds 18 months ended 30 June 2023 £ 41 18,976 34,849 53,866 |
|---|---|
| Total funds year 31 December 2021 £ 15 11,903 31,639 43,557 |
|
| Total funds 18 months ended 30 June 2023 £ 44,954 |
4. Income from charitable activities
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NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 30 JUNE 2023
4. Income from charitable activities (continued)
| Unrestricted | Total | |
|---|---|---|
| funds | funds | |
| year | year | |
| 31 | 31 | |
| December | December | |
| 2021 | 2021 | |
| £ | £ | |
| Income from charitable activities - Student welfare and development | 19,747 | 19,747 |
5. Income from other trading activities Income from non charitable trading activities
| Unrestricted funds 18 months ended 30 June 2023 £ Fundraising events Student balls, formal and other fundraising events 72,747 Unrestricted funds year 31 December 2021 £ Fundraising events Student balls, formal and other fundraising events 28,425 |
Total funds 18 months ended 30 June 2023 £ 72,747 |
|---|---|
| Total funds year 31 December 2021 £ 28,425 |
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NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 30 JUNE 2023
6. Expenditure on raising funds
Fundraising trading expenses
| Unrestricted funds 18 months ended 30 June 2023 £ Fundraising events direct costs 63,091 Fundraising trading expenses (continued) Unrestricted funds year 31 December 2021 £ Fundraising events direct costs 20,642 |
Total funds 18 months ended 30 June 2023 £ 63,091 |
|---|---|
| Total funds year 31 December 2021 £ 20,642 |
7. Analysis of grants
| Grants to | Total | |
|---|---|---|
| Individuals | funds | |
| 18 months | 18 months | |
| ended | ended | |
| 30 June | 30 June | |
| 2023 | 2023 | |
| £ | £ | |
| Grants, Student welfare and development | 231 | 231 |
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NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 30 JUNE 2023
7. Analysis of grants (continued)
| Grants to | Total | |
|---|---|---|
| Individuals | funds | |
| year | year | |
| 31 | 31 | |
| December | December | |
| 2021 | 2021 | |
| £ | £ | |
| Grants, Student welfare and development | 200 | 200 |
8. Analysis of expenditure on charitable activities Summary by fund type
| Unrestricted funds 18 months ended 30 June 2023 £ Student welfare and development 133,427 Unrestricted funds year 31 December 2021 £ Student welfare and development 60,256 |
Total 18 months ended 30 June 2023 £ 133,427 |
|---|---|
| Total year 31 December 2021 £ 60,256 |
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NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 30 JUNE 2023
9. Analysis of expenditure by activities
| Student welfare and development Student welfare and development |
Activities undertaken directly 18 months ended 30 June 2023 £ 87,692 Activities undertaken directly year 31 December 2021 £ 35,264 |
Grant funding of activities 18 months ended 30 June 2023 £ 231 Grant funding of activities year 31 December 2021 £ 200 |
Support costs 18 months ended 30 June 2023 £ 45,503 Support costs year 31 December 2021 £ 24,792 |
Total funds 18 months ended 30 June 2023 £ 133,426 |
|---|---|---|---|---|
| Total funds year 31 December 2021 £ 60,256 |
Analysis of direct costs
| Student services Freshers week Student welfare and hardship Sports and societies costs Student enrichment |
Student welfare and development 18 months ended 30 June 2023 £ 24,999 3,302 2,329 19,530 37,532 87,692 |
Total funds 18 months ended 30 June 2023 £ 24,999 3,302 2,329 19,530 37,532 87,692 |
|---|---|---|
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9. Analysis of expenditure by activities (continued)
Analysis of direct costs (continued)
| Depreciation Student services Freshers week Student welfare and hardship Bar costs Sports and societies costs Student enrichment |
Student welfare and development year 31 December 2021 £ 461 8,533 4,803 1,141 2,217 6,454 11,655 35,264 |
Total funds year 31 December 2021 £ 461 8,533 4,803 1,141 2,217 6,454 11,655 35,264 |
|---|---|---|
Analysis of support costs
| Staff costs Office and general administration costs Insurance Presidents flat Bank charges Governance costs Bad debts |
Student welfare and development 18 months ended 30 June 2023 Total funds 18 months ended 30 June 2023 £ £ 25,110 25,110 1,116 1,116 1,388 1,388 8,491 8,491 2,515 2,515 6,586 6,586 297 297 45,503 45,503 |
|---|---|
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9. Analysis of expenditure by activities (continued)
Analysis of support costs (continued)
| Staff costs Office and general administration costs Insurance Presidents flat Bank charges Governane costs Governance |
Student welfare and development year 31 December 2021 £ 14,669 654 651 5,490 794 2,399 135 24,792 |
Total funds year 31 December 2021 £ 14,669 654 651 5,490 794 2,399 135 24,792 |
|---|---|---|
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9. Analysis of expenditure by activities (continued)
Governance costs included above comprise:
| 2023 2021 |
|
|---|---|
| £ £ |
|
| Officers'and Trustee expenses | 491 154 |
| Independent examer's fees-Ryecroft Glenton | 2,040 1,030 |
| Examiner's fees | 1,860 950 |
| Other costs | 439 265 |
| 4,830 2,399 |
10. Independent examiner's remuneration
| 18 months | year | |
|---|---|---|
| ended | 31 | |
| 30 June | December | |
| 2023 | 2021 | |
| £ | £ | |
| Fees payable to the Charity's independent examiner for the independent | ||
| examination and preparation of the Charity's annual accounts | 3,900 | 1,980 |
11. Trustees' remuneration and expenses
During the year, Trustees has been paid remuneration indirectly from an employment with St John's College, and has the use of a flat, shared with St John's College, as follows:
| 18 months | year | ||
|---|---|---|---|
| ended | 31 | ||
| 30 June | December | ||
| 2023 | 2021 | ||
| £ | £ | ||
| Miss Alice Butler | Remuneration | 8,024 | 6,822 |
| Other benefits | 2,745 | 2,745 | |
| Ms Molly Byford | Remuneration | - | 7,235 |
| Other benefits | - | 2,745 | |
| Mr Thomas Jackson | Remuneration | 17,086 | - |
| Other benefits | 5,747 | - |
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11. Trustees' remuneration and expenses (continued)
During the period ended 30 June 2023, expenses for sustenance totalling £ 491 were reimbursed or paid directly to 2 Trustees (2021 - £154 to 2 Trustees) .
12. Tangible fixed assets
| Cost or valuation At 1 January 2022 At 30 June 2023 Depreciation At 1 January 2022 At 30 June 2023 Net book value At 30 June 2023 At 31 December 2021 |
Fixtures and fittings £ 1,850 |
|---|---|
| 1,850 | |
| 1,850 | |
| 1,850 | |
| - | |
| - |
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13. Fixed asset investments
| Cost or valuation At 1 January 2022 Additions At 30 June 2023 Net book value At 30 June 2023 At 31 December 2021 The above investment comprises a NS&I deposit. |
Other fixed asset investments £ 3,146 158 |
|---|---|
| 3,304 | |
| 3,304 | |
| 3,146 | |
| 14. Stocks Finished goods and goods for resale 15. Debtors Due within one year Other debtors Prepayments and accrued income |
30 June 2023 £ 1,670 30 June 2023 £ - 6,437 6,437 |
31 December 2021 £ 965 31 December 2021 £ 1,000 8,695 9,695 |
|---|---|---|
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16. Creditors: Amounts falling due within one year
| Trade creditors Other creditors Accruals and deferred income |
30 June 2023 £ 15,033 244 3,900 19,177 |
31 December 2021 £ 3,862 284 3,780 |
|---|---|---|
| 7,926 |
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NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 30 JUNE 2023
17. Statement of funds
| Statement of funds - current period Unrestricted funds General Funds Statement of funds - prior period Unrestricted funds General Funds |
Balance at 1 January 2022 £ 75,731 Balance at 1 January 2021 £ 64,843 |
Income £ 172,135 Income £ 91,786 |
Expenditure £ (196,518) Expenditure £ (80,898) |
Balance at 30 June 2023 £ 51,348 |
|---|---|---|---|---|
| Balance at 31 December 2021 £ 75,731 |
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NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 30 JUNE 2023
18. Analysis of net assets between funds
Analysis of net assets between funds - current period
| Unrestricted funds 30 June 2023 £ Fixed asset investments 3,304 Current assets 67,221 Creditors due within one year (19,177) Total 51,348 Analysis of net assets between funds - prior period Unrestricted funds 31 December 2021 £ Fixed asset investments 3,146 Current assets 80,511 Creditors due within one year (7,926) Total 75,731 |
Total funds 30 June 2023 £ 3,304 67,221 (19,177) 51,348 Total funds 31 December 2021 £ 3,146 80,511 (7,926) 75,731 |
|---|---|
19. Related party transactions
As disclosed above, the President of St John's Common Room is remunerated indirectly through St John's College (see note 11) in addition to other trustees via the means of paid employment.
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