Charity iEgistration number,. 1159461 Bishop Grosseteste University Students, Union Trustees Rgpoit and Finm¢ial Statenients for the Year Ended 31 July 2024 Saul Fairliolin Limited 12 Tent¢wroft Street Lincolll LN5 7DB
Bishop Grosseteste University Students, Union Contents Reference and AdinIstrative Details...., ..,....,..,. Trustee8'Report......:.....:.::...:...:....::.:.:.:. .:...:.....:............,..........,... ,. . ....,.2toll Tndependent exatniner's N)ort.:..::.....:..,:,:: 12 Statementoffinan¢ial&titivities.........................,..,.,.........................,................ .13 Balance Sheet.. .14 Notes to Ihg financial Statllent8...,. .15 to 24 The following page do¢$ not forin part of the StatOry finfuicial statements.. St&tem¢ntoffinancialactivitiggperfund....................,,,,.,,,..........................-.............,.. ,25
Bishop Grossetsste University Studentsl Union Reference and AdmlnistratIve Details Ch&rity nllme Bishop Grosseteste University students, Union Trustees Mr S Thompson, TIStee & Co-chair Mr C ShorL Truslee & Co-chair- resigned 3014ll024 Miss L Hunter, Tru$t¢¢ Dr C Thornpso Tnistee- resigiied 3110712024 Miss S Lawrence, TNstee Miss E Allden, TrLWtee Mr R Elanner, Trnstee Mr J O'Donoghue, TrnsÉee Lwr T campbell-ow¢ Trustt Miss E Olysejj, Trustee Lwr S Flaning, Trnstee- appointed 0410312024 P Davts, TStee- appointed 2710312024 Mr M Gordon, Tw5tee- appointed 0110712024 Mr IC Gill, Ttee- appointed 0110712024 Charity registrhtion number 1159461 Prill¢ipal offjce Bishop Gro$seteste University, Longdales Road, Liiicoln, LNI 3DY Independent Examlner Saul Fairholm Liinited 12 TenteTcroft Street Lincoln LN5 7DB Page I
Bishop Grossetests University Students, Union Trustees, Report The Trust'ees present their amiual report together with the audited financial statements of Bishop Grosset&8te univ$lty students, Ujjion for th# YO l August 2023 to 31 July 2024. OBJI4CTIVES AND ACTtVlTIES IL Pollcles and objecdv The Trustees have giv¢n due collsid¢ration to CkLarity Commission publLshed guidallce on the publi benefit whell reviewing the chltieS aiins and objectives in planning Future a¢tiviti¢s. We aim to advance the education of students at BGU fffl the public benefit by: a) Promoting the inteT¢sI and w¢lfai¢ of students at BGU during their course of study and represeiitin& siipporting and advising students, b) Being the recognised reprgsentative channel betweell students and BGU and any other organisation outside BGU. c) l¥ovidtng social, cultural, sporting and recreational activities and fonuns for discussions alld debate for tile pSoal development of OUT Sdellts. In 2023, w¢ sald that BGSU would: We wollld like to raftbish th¢ bar ea and replace the furniture, as the furniture is iticredibly old and near to the end of its commercial use. We would like to updat8 some of the kitchen ¢quipinent ifj Union bar. to be able to ¢nhanGe our monu and food offering to stud¢llts, We would like to redecorate the main enlmce to the SU, along with the landing and stsiThve118, as these areas look ttred and have not been Tedewrafrd for many years. We WDuld like to focus on exten1 funding OpportnIties, to see if the SU could b¢n¢fit from ally extsinal funding to fiirther dovelop the work we do. We would like to illlrodu¢e Course inate, whi¢b is an online platfomi where a student can 8ubmit sni1 pieces of course feedback and id¢as. This is thell revi¢wed by their course rep or a member of SU sl'aff and can then be worlied on. It would be all ex¢¢ll¢nt way Éo continuously Gollect feedbaclc from students. We would like to rebrand all our sports teams playing kit, so all teams are wearing the same branded teaniwear. W¢ would alBO lilc¢ to centralise th¢ process of pur¢hasing teaniwear and find a supplier that can provide all the t&qmwear, Tather than having to use ittultiple guppliers aiid th8 being midtiple w&ys of ordering. We need a 8impl¢ ordering systelli and a quiclc tUllLifoiLnd from OTderiiig. We want & focus on con11niinity alld bring together our past aiid present clubs al so¢i¢ty members. We hope to Llo this by creating an alumni day of sportiiig activities, where our 1rrent clubs and societies play matches against teams nde up of forjner 8tudents. We want to encourage more student led campaigns and streamline schemes and campaigns through two key Ghannels, one through social topics and the other through 3Gaden]i¢ topics. We want to iestruGtULE the parl tin]e elected officer toles, to ensure parity with the current social student climate aud to ensure that OUT P&rt time elected offer struGture, lleCÈS the needs of our curreiit student body Pag¢ 2
Bishop Grosseteste University Students, Union Trustees, Report (eontlnued) We are aiming I'o develop a iietwoA( with other small and 8pe¢ialist stiidents, union and establish mole of & Vol for snullei umiolls within NUS. We want to represent our sttid¢nts inore within the loeal Community and develop r¢lationships with local organisations such as Lillcolnshire police 8nd the YMCA. Our aitn in developing local relationships would be to encourage niore student a¢tXVi8in, so sttid¢nt8 c] campaign to iinprove loc( f&cilities and areas that coiild benefit the whole coinmunity. We know that 8tudents Can sojnetimes fEnd university poliGi¢s really difficult to undersiand and we would like to develop a catalogue of stient friendly docLunents that explain the most relevant and well ied university policies, in language that is student fiiendly, We want to continue to tackle the cost4)f-living crisis for oiij, studenl'8 and ¥lp.1 any work that the university e also doing towards the cost-of-living Crisis. Given the ciirrent economic climate that most universities are facing, the Student Union needs t'o renill Intogral to the worlctiig environment of the uuiversity and support the UniV'sity through any challenging e¢oiiomi¢ times. By thc end of the finanrial year in 2021 we have: Refiwbi8hed the bar area and ieplaced all the fi]miture. Updated the bar kit¢h¢n equipjnent, to etsAble us to enhance our Jllenu aDd buy in cheaper ingredients lo make the overall cost of iJealg served in union bat lower for 8tud¢nts, Redecoratsd the tnain entrance and staitwells in the SU building, We were awarded a grant of £6,347 from the RFU, which enabled us to etnploy a term time/part time nigby dev¢lopmeiit officer. Tho developtttent officer's ain) was to increase our iiign's and womell's rugby team numbers and support them with coachirtg and developing their playing abiltties. IL]troduced coursemate so StLentS have all easy thgital way to con]Jniinicate with their COUTse rep. We h&ve rebranded our sports teams playing kil so all tean]s wear the 8wne branded teamweur and sourced a new supplier ID inake the ordering process quiclc and siinple for student8 and clubslsocieties. We ran a commullity alumiii day where fornier students Clle back &id played a variety of different sports in teams agains't the current siudellt sports tsams. This was very well attended and ended in a fundraising auction in the union bar. We have encouraged inore gttident led ¢ampaigns and grown th¢ "not a" campaigns to Cover inultiple topics and developed a wide r&nge of student friendly policy handbooks, so our sÉud¢nt don't struggl¢ to understand university policies. We reslnlctured the part'time elected officer roles to r¢fle¢t the needs of our men]bers. We developed a strong Lehvork witli oth¢r small and specialist SU'S, sharing knowledge attd b¢$t piactices. Page 3
Bishop Grosseteste University Students, Union Trusteesl Report (Continued) We have developed relationships within the local Comn]ty ld worked with looal organi8ation8 su¢1) a5 Lincoknshire police and the YMCA. We attended the saf¢i' stre¢ts fonll11 alongside with the University of Lincoln Studeiits, Ullion $0 students voices could be h¢ard reSalg safety iji the city. We have supported th¢ University and provided spaces and opporthiiities within the student ittlloll, for dIlls$10ns with stud¢nts oll the prop08¢d univeLsity name ¢h8nge. We have illvlted university representattves to diswss these niatter6 at sttident council and ensured the Student voice wa8 beard ill relation to the proposed naLLe change. We also worked with the iilllversity to have a presence at open days. ACllIETrT1KNTS AND PERFORMANCE A. Rtsk Management BOSU rnajor risk 1$ that of fundiDg. We are dependant on the wiiversity block grant to fund our operations and the blocll makes up 710/1 of our income. We have very little ind¢p¢ndentJy generated inconie and this doe8 liot look likely Éo ¢hange, as ther¢ very lin]ited ways we can g¢n¢rate more in¢oJne on campus. Ail our activities are risk 4ss¢sKd to millin]is¢ ally Tislcs through our activity and Appropriate leve18 of in8uranco are held. Risk. a8S¢S8tll¢nts ar¢ revi¢w¢d atmu&lly or as TLIlre& Budgetary and internal control risks are iiiinimised by. the implementation of procedures foT the authorigation of all tratssactions and projects. We have & 14ealth and Safety policy in place and a risk register. The Chief Executiv¢ Officer has completed an Institht¢ of O¢¢upational Safety and Health (IOSH) Trlwiaging Safely, course, to be &bAe to updat¢ these documents on an artllual basis, once updated, they are then approved by the board of tru8tee8. B. Review oft. Activitle8', Here are some of the thiiigs we have achieved this year: Fresher'$ week. As always, fSerS week was planned well itt advance alld we decided not to partn¢r with the in tlie city wristbkmd, as students told us that the price of the BGU band and the in the city band was off putting, so w¢ only sold our own bands. As a resulL we sold 60 /0 more bands than the previous year, which was really positive. All th¢ freshe events wei'e well attended, so miich so tbat soine nigbfs the students, Ullion was at full capacity. Vendlng In this year wc changed the hot drink vending machine in the library to a new supplier and also introduced a hot drink vending macbine to Éhe FIardy Building. Although the new imachines only carne in halfway through the year, we have already seen a 170/0 increase in itiGome compared to the previous year, 80 the new D]achines are certainty Jnakillg a positive impact. Room Hire Room htr¢ ha8 continued in popul&rity, so iruch so that we generatsd 250/4 inore income ill this year in comparison to the previol ye. Alongside letting the roorn to external UpS, StLe1]tS Use the iDom free of charge and clubs and societies regularly inake usc of tb¢ space for their various activities. Page 4
Bishop Grosseteste Unlversity Students, Unlon Trustees, Report (continued) Cliibs and Soclleties At Ibe end of 23124 we had 325 clublsociety members in 16 Clubs and So¢i¢ti¢s. New 800ietie8 in 23124 were w01n'S Rugby, Boxing Society and Pool. Netball, Meii's Football, Boxing alld Men's Rugby toolc part in BUCS {British Uriversities & Colleges Sport) Inatches. Alli 3 lean faced tough competition froin LOlLboroUgh, Notlingharn Tient, D Montfort, Liiicoln, and Leic¢ster Univ¢rsitie6. All institution8 are inu¢h larger than BGU and have more teams and mdnber6 to choose fi'om. OUT highlIt of the BUCS year was when Boxing woii Gold in the BUCS Boxing Cljampionships (Mell's Under 571ig) lield in Febiuary, This was the hrst time we had entsred the competition. The C&th¢dral Cup was beld in May> 6 Clubs tool< part thiB year, Dodgeball, Men's FooÉbaJl, Men's Rugby. Netball. Basketball and Badminton. Men'g Football played the University o£Lincoln at the LNER stadium, DanGe Society perfoniied at half tiine. Badminton won all 3 of their matches. All matches were well attended by stadT and students froiD both snstilutioJ]s and th¢re wa8 a great atmosphere at all the events. Star Awards (Studeiit Teaching A¢deMiC Representation) The STAR awards were held in Uniott Bar in May, and it. was attended by ov¢r 50 people. It was an uplifting event that celebr&ted Student and staff &chievanent8 and pronioted Yecognition appreciation of f¢llow BOU ¢onwiiinity MnberS. 10 Star Awards were haiided out, as well Gold, Silver and BTOi]ze Course Rep Awards and Special Recogiiilion Course Rep Awards. Sports & Soclety Awards The 8POrts and socielies awards ¢vening w&8 held on 20th mCh at the Drill Iqall, to Celebrate the years achievements by ouri ¢lubs and soGi&1. We had 152 students attending. The night was a huge success and gave the club8 and soci¢ties a thall¢¢ to Celebrate their achieveiiients togeth¢r. R¢present&tion The Vice President Education ovetsaw the course rep ¢le¢tions. There were 17 1st Year CouLTe Rep positions available includtiig l Foiindation Year course, some coll¢8 had 2 or more reps and Primary Educatloll had 4 reps. In total we had 23 (1st ye Reps), 19 (2nd Year Reps), and 12 (3td Ye&r Reps) and 3 Level 7 Rep8. In total we h&d 61 Course R¢ps. We held 6 Student Council meetings, all were quorat¢. Every Student Council tbis year also had one or more Guest Speaker, these included colleague8 from CELT, BG Futures, Sludeot Advice, BGU Health and Safety, as well as the Interi Vice Chancellor of BGU, BGU Rebranding, Lin¢olnsbire Police, Just Lincokn8hire, BGU Night Lwht Café alld Lincoln Community Grocery. Welfar Cam ns The PAL Scheme - Following on froim last year's siicc¢ss this rall on specifJG courses 8uch as TESOL as and when module / cOue leads requested the work. Student Frlendly Poliey handbooks - Stud¢nts told us that they found the university complaints policy very confusing, so we Enade a simplified student friendty version. so students coiild understId the policy better. This worked so well that we made 8ttJdent friendly versions of other policies to e])able more untversity policies to be simplified for the st(ent body. This work included.. Acaden]ic Appeals Policy Acaden]ic Misconduct Policy Coiiiplaints Policy Code of PrNGlir¢.' Inteicalation Suspension of Study How to upply for ExÉetJuatiug Circumstances Professional suitability Policy Student Disciplinary Policy Page 5
Bishop Grosseteste Universlty Students, Union Trusteesl Report (continued) Not A Luxury Ca]npYdlgn - The not a luxury wnpai£ii continued from the 'evIoUS year, to provide all toiLets on ¢ajnpl with fr¢¢ sanitary produ¢ts. The feedback froin Studlt8 about this scheme has beeii very positive, our students partIcul]Y appreciated being able to ac¢es8 the8e pmduGts in all baihrooms on campus, Not A Neeesslty Campa1 -The Not a Necessity campaign was worlang closely with Ujjion Bar to en8ur¢ that noii-alcoholic options exist for as many drillks on OUT inenu as pos8ible and thal. the narrative around a student 'kntgbt out" is not singularty on the consumption 0£ dcobol. With the changing meiitality amongst studenÉ8 about drinking and the cbbIllg culture, we still want to make sitre that &ll sttulents ¢an lljoy our faGilitie5 and ev¢nts withoiLt the fe¢luig th&t they have to drink to be there or parli¢ipate. Not A Stigma Canipaign - The Not A Stigma campai] aim was to Provide students with a more rounded l(nowledge of non-visible disabilitieB and what Jvenues students may acce&8 support through. This campaign has been oreated because BGSU identified a n¢¢d for further signposting $upporl for Stud7t8 with non-visible disabilities. The 'Not A Sti&, catnpAign lead is the BGSU accessibility officer, whts is oil hand to provide 81gnposting and personal siipport to students seeking further help with their non-visible dAsabilities. Not A Yes Campaign - Th¢ 'Not A Y¢s' 8¢heme started in 2022 a singulw focus on r&ising awareness of the need for consent and bystander tr&ining for student5 and young people. This $ch¢m¢ has f1¢ in aligntnent with the recent OFS regulations around nwidatory traiiiing for sttident8. Thi8 npatgn was ¢r¢ated because BGSU identified & need for further 3ignposting SLiPPOrt for students who have felt unsafe or have been involved in an incident where clarity of ¢onsent was key. BGSU and Uniou Bar are sth spaces fDr tliose wlio don't feel saf¢ elsewhere, ld this campaigii ensures scbenies such as Ask Angela attd Ask Clive operate in thll effect in the SU building. Th¢ Commulllty L&rder - This continued on ihrough this year and was very well used by students. We collected donatiolls of food iteins ftoin staff and sttthnts, so there was always 8 supply of basic food cupboard InS for those students who needed it., BreHkfast Club - Durillg D¢¢allbw we rao our breakFast club and provided hot drinks, breakfast cereal, milk, toast wid jam to students in the SU. common room. Student's loang van run or run low in Deoember &nd with the Gost of living> we wiinted to ensure that no sttident had to start the day hungry. Univcrsity Campaigng, & Initlatlv¢s - The SU was represented on tbe Uillversity wellbeing steering group and contributed to several university led w¢llb¢iiig initiatives, including Wellbeing Wednesday, Black History Month and themed activity Afternoon8, The SU also worlced wi¢h the university international office to sllprt oiw iiiternational students and set up illt¢rn&tional student study drop-in sessio1 alld support¢d activities for the intern&tional students, Ev¢nts We ran a regiilar weekly programme of evellts for stsents and al80 themed events throughout the year, siich as a valentine's traffic light party. Christmas snow party kd A Prid¢ C¢l¢bi'atioii night. W¢ I'ounded up the year with our Union Fest, where we had a d&y of a¢tiviti¢s and live performau¢es Intended to iillprove mental healtb and wellbeing for all our students. Page 6
Bishop Grosseteste University Students, Unioll Trustees, Report (contlnlled) Tralnlng And Developinent We devised a ÈraininE progrnnune foi, our exec team, so they coidd und¢tstand Ibgir role and all th¢ TequireillenL8 of b¢ii4 an Clected offiG¢r, Other Training coue6 that we attended illcluded: NUS Lead & Chang¢ for th¢ Pre8id¢nt NUS National Conferen¢e for th¢ Presid&it and a sttid¢nt observ NUS SiJall wid Specialist Conference for the Sttident Leaders NUS Comcner¢ial Conference for the CEO and CoJnLnercial Manager FINANCIAL REVIKW A. Going Concern After tnalang applljpriate enquiries, I'he trustees have a reason&ble expectation that the charity IS adequate resources to ¢oiitinue in operational existence for the short tenn. For this reason, they continue to adopt the going concern,,basis in preparing the financial statements. Fiuther det&i18 regarding the adoption of the going concern ba8is can be found in the Accounting Policies. B. Flllx)Jcl#l revlew The bo[a of trustees &re ple&sed to report that BGSU has finished th¢ year in a reasonably healthy finall¢ial positio This will tt&e us into the following year with some financial stability and enables us to c(mtinue our work and positively impact to the student body. BGSU'S unrestrictsd incom¢ from all sour¢es tljis year totalled £232,478 (2023: £226282). Maintsinittg our exp¢ndilure biget$ get at the sEart of the year, total expenditure for the year was £225,488 (2023: £225,054) leaviug a surp1115 of £6,990 (2023.. £1,228). BGSU has continued'to benefit from the re¢ogiiition and pport of the university and this Ye the annu ¢apitatlOll fimding and salaTie8 grant totalled £158,000 (2022123.. £167,000, 2021122: £147,000). SU reserves poli¢y sots a l¢vel of12 wc¢ks average exp¢nditurg pli five percent. This totals £54,637 (2023., £54,532) which current reserve levels cuneiitly meet alld exceed by £60,560 (2023.. £53,674). BGSU 18 currently &tYiliat¢d to the Nktiollal Union of Students (NUS), for wliich our total subscription for the year 23124, included within NUS Costs. tunounted to £3,675 (2022123., £3,439). C. Prlnelpal fundlng The principal fiding of the Bishop Grosseteste Univ¢rsity Student's Union is from Btshop Grosseleste Universily. STRUCTURE, GOVERNANCE AIW MANAGEMENT A. Conytiththon The prillcipal object of the charity is the provisioll of Student U1)ion facilities to the sttidents of Bishop Gros,8eteste University (BGU). B. Method of appolntment or eleetion of trustee5 The 1geellt of the charity is the responsibility of the Trnst¢¢s who are eleotsd co-opted under the ternis of the Gonstitution. Page 7
Bishop Grossetestc Ulliversity Students, Ullion Trustees, Report (continued) C. Pollcles adopted for the lllductlon %thd tralnlng of trustees Th¢ clerk lo the board of Trustees utilises resource8 from the charity commission Ed NUS to ensiire all new tnistees to tlie boaTd are trained and ready for the rol¢. Sabbal'ical Iwstees assigned a trustee nientor, to give thein &th,tion support as a trnstee and the President co-chairs the ineeting with the alwnni trustee, to ensiue m¢¢tings ar¢ productive, ¢ffiGient and the ijew president has support to chair such a high-level meetring. D. Organlsational strueture and dectslong maklng 'STRUS EP STR BGSU CEO STUDENT COUNCIL STUDENT LEADERS CLUBS & SOCS FORUM BGSU STAFF BGSU OFFICERS AGM . Rlsk management The Thstees have assessed the major risks to which the Charity is exposed, in parl'ioular, 08¢ related to the operations and finlCe$ of the charity, and are satisfied that system8 att procethimg are in place to mitigate our exposure to the major risks. Page 8
Blshop Grosseteste Unlver5ily Studelltsl Ullion Trustees, Report (continued) PLANS FOR FUIURE PERIODS A. Future developments Apply for furtlier fimdiiig from the IIFU to be able to continue with the Rugby Development Role, and enliance m¢n's woJn¢n's rugby te17 iiwijbers and playing opportunities at BGU. Research external fimding Opp0mi,es, so we can continue to finle1allY SLiPPOrt our cominunity larder ensuring that no sth(knt has to go Iiungry, und a basic Supply off food is always available for $1lldents via our community larder, Develop an awareness campaign t'o Énfonn sttidents what SUPPOTt is available for them on canipus md also within the local coiiimunity to enable our students to flourish whilst at BGU. Work wlth ¢xt¢mal parthers to support studènt8 to be ftnan¢ially aware Ld olyer courses to strengthen student8, financial awatEnes8 and acurna). Continue worlcing with the Ads Trust to offer a"Night Cafe in the Students Uniotj on a Monday night. Ensure the Sllldent body'are aware of this service alld strengthen liiil<s with out onsite melltal health siippoTt sei¢¢S and th¢'night cnf¢. Overhaul our 80ci&I inedia and iTrarlceting, to ele studerLts are aware of our work, events and seryices. Increase oiw Yeach alld digital impaGt within the student body. Ensure that the respoiisibilities of the Vice Presidgnt Clubs & Societies role, are covered and there is inill)al impact to students since the post has been disbanded in 23124. Ensure students are aware of the power of student council and we have an increase in inotions I'o ooifftcil from students. En8ure sthd¢nt8 also know how th¢y can hold ele¢ted orfJCe to accowit through the mechanisms of student oouncil. Increasing studont voice to the trnstee board and looking at way5 we Gan encourage sdentS to run for the studeiit trustee roles. Page 9
Blshop Grosseteste University Students, Unlon Trustees, Report (Colltinued) TRuSTEs, RESPONSIBILITIES STA TEMENT Tlie Tnistees are responsible for preparing the Tnees, report and the financial stal'ements in accordance with applicable law and United Kiiigdoin Accounting stldards (Fiiian¢ial R¢porling Standard102). Tlie l&w applicable to charities in England & Wales requires the TIStee8 to prepatE 'financial statements for each fil1claI year, which give a true and fair view of the state of affairs of the Chlty and of the in¢omillg re80urce8 and application of resources of th¢ charty for that period, In preparing thes¢ fillancial Statements, the Thustees are required to.. select suitable awjulltillg policies alld then apply them consistently; obseNe the inethods 1& principle8 in the Charities SORP, Inake judgments and acoountillg estimaks that are reasonable and pnEdent' prepare the fine18 stateinents on the goiiig concern bagis iinless it is inappropriate to presume that tho charity will continue in operatioll. The TStee8 are responsible for keeping proper accounting records thRt are siiffitient to show and explain the Gharity's iMisaction8 and disGlose with XEasonabl¢ acGur&cy at any Èime the financial position of the charity )d ¢oabl¢ tllem to ¢llsuY¢ that th¢ financial statements comply wAth tbe Charities A¢t 2011, the Charity (Accounts and Reports) Reglllations 2008 and the provisions of the Inist deed. They are a180 respollsible for safelardillg the J88ets of the charity and hence foT taking reasonable step5 for the prevontion and detect'ion of fraud and other irregularities. RISK REVIEW All ri8ks and business decisions are discussed and acted upon at tho B0d of Tte¢S meetings. The charity has adequate tnsurWe in place covering the charity's activities and the Bo2xd of TnJsÉe¢s itself. The charity relie8 on its unpaid eleoted volunteers I'o deliver some of its charitable support services and fundr&ising events annually. Due to elected volimteers h&villg other ¢ommitmeJJts oiitside of university lif¢, the level of support can soinetimes drop SignificltlY (particularly around hand in times) meaning other volunteers and paid SttTdent Leaders come ullder pressure to coinpensate for the lost support. This has yet to cause the ¢Icellatioll of events or wit1rawal of support provided by the Charity but colltiniS to pn)vide an ongoing risk that this may occur in the tte. We have projected thati a small loss is due to be made in the next year, but th¢ Charity has siifficieut reserves to be able to wver this, The University have aSed to illCTease oiw block grant in line with inflation, which means we do have a much Jnoye realistic amount of iiioney to worlc with and any predicted 1088 ean be kept lo a minimun]. Ill 24125 we plan to re-structure the staff teain to better n)e¢t the n¢eds of our sdentS to ensure that the charity can deliver its charitable setvi¢es lo as many students as possible. rhe charity currently has tbr¢¢ paid ele¢ted 8tudent leaders that are in post for one year, alld soinetirnes kiowledge can be lost with this lev¢1 of tumov¢r. In 24125 we plan to redu¢e the 8tudent leader posts to two (President ]d Vice President Education) and no lollgw have a Trice president clubs and socteties, To still carty out the requirgLnent8 of this role, we plan to inGr¢ase our representation co-ordinators hours to cover the adminigtrative side of this post and have an elected part tinc 8ftellt offioer to CY4rry out the stydellt facing side of the role. This should reduc¢ tEL¢ tisk of lost knowledge rettion and fme8 from being noii-¢omplwit Trith sporting league regulations. Page lo
Bishop Grosseteste Universlty Studentsl Union Trllsteesl Report (colltiuued) Approved by the TtU8t¢es and signed on theirbehalf by., S-T Mr S Thompson Trustee Dats:.,.11.rRtYPjy.lQz>........ Pag¢ll
Independent Ei X]Der'S Report to the Trustees of Bfishop Grosseteste University Students, Union Indepeudent exAminer's report to the Trustees ofBi8hop Grossetestt Uulversity Sthdellts* Union I report to the trustees on iny exainination of the accounts of Bisliop Grosseteste UniveiBity Students, Uiiion (the Tnist) for the year e11ded 31" July 2024 which are Set out on pages 12 to 23. R¢sponsxbilitles ba518 of report As the charity tmstep8 of the Trust you are responsible for the preparation of the accounts in accordance wit]1 th¢ r¢quir¢inettts of the CharitieB Act 2011('the Act,). I r¢port in respeot of my examination of the Trustee's accounts CWTied OLIt uiider sectioi) 145 of the 2011 Act and in canying oiit niy ¢xamination I hav¢ followed all the applicable Directions given by the Charity Conlllli8sion iwder section 145(5)(b) of the 2011 Aut. Independent exAmiuer'$ statemellt I have completed niy examination, I confinll that JO Dmt¢rial matters h&ve come to my attention in conn¢ction with the ¢Thnitiation giving me clse to believe that in any iiiaterial respect.. (l) accounting records were not kept in respect of tbe Trnst as iequired by section 130 of thg AG¢. or (2) the accounts do..not accord witb those Tecords. or (3) the accounts do uot comply with the &ppli¢able requireinents concerning the foTin twd confrnt of accounts B¢t out in the Charities (Accounts &id Report8) Regulations 2008 other than any Tequireineiit that the accoiints give al'tnie alld fair view, whitih is llot a mattor considered as parl ot un itid¢pendent examiiiatioii. I have no concerns and have come across no other nmtters in connection with the examiltion to whiLh attention thould be drawn in this report in order to enable a proper uiiderstanding of the accoimts to be reached. Richard M Welsh (FCA) Saul Fairholni Limited 12 TenÉeirroft Str¢¢t Lincolll LN5 7DB Date.. Page 12
Bishop Grosseteste University Studentsl Union Statement of Financial Activities for the Year Ended 31 July 2024 Unrestricted Total Funds Total Funds Funds 2024 2023 Note Incon)Ing resources Incolliing r¢sour(%s from gellemted funds Trading activitie8 IJJv¢stment income In¢oitting resoiwces from charitable activities Tolal incoming re80urces Resources ¢xp¢nded Costs of generatiog fid$ Raising Charttable activities Support costs Total resources ¢xp¢nded 14,511 13,081 14,511 13,081 204 886 232,478 13,375 9,228 20 226282 232,478 5,422 193,967 5,422 193,967 5,032 183,602 225,488 225,488 225,054 Net inovements in thnd8 6,990 6,990 1,228 Reconcillation of fund%, Total funds broiight foiward Total funds carried fonvard 115,197 L15,197 108207 All incoining resour¢e8 4ndiresoi$ ¢xpended derive from continuin8 activities. The charity ha8 no rEcognis gains or losses Eor the year other tlwi the results above. The llotes oil pages 15 to 24 fonii au integral part of these financial ststements Page 13
Bishop Grosseteste Ulllverslty Studentsl Union Balance Sheet as at 31 July 2024 2024 2023 Not¢ Flxed assets TIgIble asse£s Current assets DebtOi8 Cash at bank alld iii hd 13 6,361 4,323 14 3,977 125,643 129,620 3,426 123,316 126,742 Credltor$: Amounts falling due wlthfftn one year 15 (20,784) (22,858) Net Lurrent assets 108,836 103 884 Net #ssets 115,197 108,207 The funds of the ch*rity: Unrestrlcted funds ULeStrIcted Income fimds 115,197 I08,207 Total iharity rlldS 115,197 108,207 The financial statements have been prepared in accordance with Accounting and Reporting by Charities., st&teJn¢llt of Recommended Practice applicable to charities pr¢poring th¢ir accuunts in accordance with the Fillancial Reporting St&nd4rd applicable in the UnFtgd Kingdom alld Repiiblic of Ir¢laJyi (FRS 102) and the Clwities Act 2011. Th¢ financial ststetnents were approved by the Trust¢¢s on3rd F9bruary 202kd signed oil its behalf by: Mr S Thomp8Oll Trustee The notss on pages 15 to 24 forLn an integral parl of theso financial 8lateD]ents, Page 14
Bishop Grosseteste UniveTSlty Students, Unlon Notes to the Financial Statements for the Year Ellded 31 July 2024 l. Accoulltlng polleles Bishop Grossele5te University Sdents, Union 18 an unincoiporated charity registered iu Engl&n The principle plaG¢ of busittes8 and registered office is Bishop Grosseteste University, [Jgde5 Road, Lincoln. Blsis of preparatlon The financial statements have been prepwed under the historical cost conventson with itsins iecogDi8ed at cost or trtsactiOnS value unless otherwise stated ill the relev&llt notes to these ac¢oull18, The finan¢ial 8t8tcments have been prepared itL accordance with the Slatenient o'f Aecoinmellded 14'actice.' Accounting aiid Reporlillg by Charities preparing their accounts in accord&nce with the Financial Reportiiig Standard applicable in the UIC and R4)ublie of Ireland (FRS 102) (effertive'from l January 2019)- (Charities SORP (FRS 102)) and Charities Act 2011. Bishop Gross¢teste University sdelltS' Union collstitstes a public benefit entity as defined by FRS 102. Fund Accountlng policy Ullrestrtcted incDrne fijllds are gellal thllds tbat ar¢ available for iise al the trllste¢s' discretion ill furtheran¢e of the objectives of the ch&tity. Further details of each fiind are disclosed in iiote 19. Illeomillg r¢sources All incoine 18 recognised where there 18 eLtitlement, certaillty of i'eceipt and the ollt c1 be measur¢d with 8llffi¢ient reliability. Income tax recoverable in rel&tlOll to doitstions, re¢¢ived ulld¢r Gift Aid or deeds of covenant is recogni8ed at th¢ time of the donatioii. Other income is recognised irt the period in which it is re1v&ble and to the extent tb¢ goods bav been provided QT oil completion of the seNice. Resources exponded Expenditure 18 recognised once there is a legal or constru¢tive obligation to transfer economic benefit to a third paty, it is probable that a trausfer of econotnic benefits will be roquired ID Settlement td the amowit of the obligation can be measured reliably. Expenditure ts cla$sifxed by activity. The c08ts of each activity are made up of t'he total of direct Costs and shared costs, includillg support Gosts involved in und¢rtaking each activity. Direct ¢osÉ8 attributable to a single activity are allocated directly to that activity. Shared Gosl's which contr1ute to more than oue activity and support costs which are not attributable to a single activity are apportioned between thoge activities oil a basis consistent with th¢ use of r¢sources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset's use. Fundraising costs ar¢ those incutred in seelcing voluntary contribiitions alld do not inGlude the costs of diSsnin&t1n InfornOn in support of th¢ charitable activities. Support ¢osts are thos¢ Costs incurred directly in SUPPOTt of expenditure on the obj¢cÉ8 of the chatity and include project management Carried out at Headquarters, Goverllance costs are tPL08e in¢urred in connection with administration of the ¢harity and compliance constitutional and stathtory requirements and includes thoie support costs lable to be direcdy attributed to particular activities. Costs of gelleratin£ finds are costs incurred in attractiug voluntary income, and those incurred in trading activities that Tai8e funds. Charitable tIvItieS and Governance cost8 are ci)8ts incwTed on the charitys ¢ducation operations, inclknding support costs and costs tElating to the governance of the Charity &pportioned to charitable activities. Page 15
Governance costs Bishop Grosseteste Unlversity Studentsl Union Notss to the Financial Statements for the Year Ended 31 July 2024 . continuEd Governance costs, Governance costs include costs of the preparation and exainination of the statutory a¢coiu]t'8, the costs Df trustee meeting8 and the cost of any legal advice to trustees on governance or constitutional rnatters. Support costs Siipport costs incltsde ¢¢ntral functions and have been allocated to activity cost categories on a basis coiisistenti with the use of resources, for example, allocating propety costs by floor e6, or per ¢apit4 stafl. c08t8 by the time spent and other costs ty thetr usage. Tangible Flxed assetg and Depreciadon All assets with an axpe¢teA lif¢ of more than one yew are capitslised. Tangible fixed assets are lled at cosl, net of depreciatioJ and ally provision for inipainnenL DeptEcation is provided at rates Ca1lIated to write off the cost of fixed assets, less their e5tiin&ted residiial value, over their expected useftd live8 on the following basis.. Fixtures, fittings and Office Eqiiipm¢nt- Ovei 5 Irars straight lille Interest recefvable IlltBrest on funds beld on deposit is Inclied wben receivable and the amount can be measured reliably by the charity,. this is normally upon notificatxon of th¢ intvrest paid or payable by the bank. Debtoiry Trade gnd other d¢btors are recogniwl at tlke settlement amount after any trade disColt offered. Prepayments are valued at th¢ amount prepaid net of any trade discolts due. Cash at bank and In h#nd Cash at and in hand includes cash and short tsnn highly quid invesdnents with a shoit matiwity of thire roollths or less froill the date of acquisition or opening of the deposit Dr siniilar account. Lknbilltles and provisions Li&bilities are recognised when tbere is an obligation at the Balance sheel. date a8 a result of a past ¢v¢nL it is probable that a transfei, of economic benefit will be Tequired in settlement, and the £]Unt of the settlein¢nt call be e8tiillated reliably. Liabilities are recoglli8ed at the ajnount that the harity anticipates it will pay tD s¢ttle the debt or the ainowit it k&8 received as advan¢¢d payinents for the goods or savices it must provide, Provisions aTe nieasured at the best estinute of the nounts required to settle the obligation, Where the effect of the l'ime value ot'money is inaterial, the provision is based on the present value of those arnoiints, discounted at th¢ pre-tax discount rate that r¢fle¢ts th¢ risks specific ¢0 the liability, the unwinding of the discount is recogiiis¢d within interest payable and 8imilar ¢hwg¢s. Flnanelal Instr..uments The charity only has fJnan¢ial assets and financial liabilities of a kind th&t qualify as basic financial insttiunents. Basio fmancial in&trnments are iuitially recognised at transaction value and subs¢qu¢ntty measured a¢ their settlement value with tb¢ ¢xception of baTJk loans which are subsequently iu¢asured at w]iortssed cost usii)g Lhe effective interest JD¢thod. Covernment Grants Government grants received are recogiised through tb¢ gtat¢menÉ of financial activity Ollce any specified futtwe perfortnance-relat¢d conditions ar¢ met unless there &re no such conditions attached in which case the grant is re&ognised whell received or irceivable. Until any specific Conditions are met the proceeds are held as a liability on the balance sheet. Page 16
Bishop Grosseteste Ulllversity Stlldents, Union Notes to the Flnancial Statements for the Year Ended 31 July 2024 Charltable Actlvld¢s UllrestrlL*ed Funds Total Funds 2024 Total Funds 2023 Grant University ¢apitation'.grallt 164.347 164,347 167,000 In¢om¢ received abDve within cELaritable activities in 2024 and 2023 was froni Bish¢)p Grosseteste University Capitation fund. All income was uni'e8trictsd fimding and was entered into the iinrestricl¢d fulld. £16,000 in extra capitation fiinding was re¢eived dillg 2023 and 2022 to ¢over all agT¢ed role within the charity and additioiial markettng &lld ¢oinMi1Catl0ll Costs, whilst £6.347 was received in 2024. to, fimd a nigby dgvelopiiient offi¢er. All additional £20,000 was Te¢eived during 2023 to enable the Chlty to take over the runnillg of the bar. Tradlng aetivitl&8 Unrestricted Funds Total Funds 2024 Total Fllnds 2023 Charity trading incon)e Merchall(tise salEs 14,511 14,511 13,375 Charity trading expenses Cost of saIes Net income from trading activities 5,422 9.089 5,422 9,089 5,032 8,343 All trading incoine received dwing 2024 was unrestricted and was entered illto the unrestri¢t¢d fund. Sale of merchalldise itt 2024 totall £8,678 whilst Sales of meal deals and confectionery totall¢31 £5,833. Cost of sales for merchalldi8e totalled £4,699 whilst nieal deal8 and ¢onfectiollery totalled £723. lllvestment income Unrestri¢t¢d Fuiids TotaI Funds 2024 TotAI Funds 2023 Batjk interest receiv¢d Rental Income 6,681 6,400 6.681 6,400 4,103 5,125 13,081 13,08 9228 All investhient incon)¢ in 2024 was uMestricted and ent¢red into th¢ unrestricted fiind. Page 17
Bishop Grosseteste Unlver51ty Students, Uuion Notes to the Financlal Statements for the Year Ended 31 July 2024 contthued Incoming resources from charitable actlvliles Unrestrlcted Total Vunds Funds 2024 Total fiiillds 2023 Income from ¢h4rltable actfvlties Social Aclivities Clubs & so¢i¢ttes NUS Card 12,032 28,508 12,032 28,508 14,982 21,634 63 40,540 All above itt¢oine received from ehaiitable activities in 2024 was unrestricted alld entered into the unrestrictsd fund. Other Grant Inconle provlded for charltable aetlvltle5 Unrestrl¢ted Totsl Funds Totsl Funds Funds 2024 2023 Income and eipenditur¢ from grant income Furlough grant Wages and salarie8 Foundation fund grant Clubs and So¢iety Ve1 expendittwe 6,000 (6,000) 6,000 (6,000) The oharity received a Digital Voucher Grant from Lincolnshii'e County Councll for procurement of capital assets in 2.021. The &ssets bave bettn capitalis¢d on th¢ balance sheet with the ¢orrespondillg deferment on grdllt incojne within creditors. As the value of the capital a58et is depyccialed the grant will be ortiSed and released iiito the statemellt of f[cial activity. The final £756 of the grant in¢ome received ha8 been released against £1,000 of depreciation in 2024. Page 18
Blshop Grosseteste University Students, Union Notss to the Financial Statements for the Year Ended 31 July 2024 onlimied Resources expendtd for eh&rltable activitles Unrestrl¢ted TotAI Funds Total Funds Funds 2024 2023 Social Activities Clubs & societies NUS Card & BUCS Wage8 and salaTies 5248 32,447 3,675 152 $97 5248 32,447 3.675 152,597 96 7,831 27,809 4,263 143.699 All resourc6s expended for charitable activities wa8 provided from unrestricted funds ID 2024. Wages and salaries paid to administrative staff that have a number of different duties wkn'ch support and help the sabbatical offices and chief executive otricer to secure grant fimding froith the uJxv¢Tsity tot811 £86,517 for 2024. Thg split of these adtninistrative duties were gelleral £24,462, clubs and gocietits £11,228, retail £5,107, representatioll £6,896, advocacy £3,245, ¢vents and promotion £22,470. elections £3,245 and coiwnunications £9,863. The LEnlnIng £66,080 was paid to the sabbatical offic¢rs and Chief ¢xeoutive officer wbo are the representatives of the Student Union to both the University and 8tudents. Support Costs Unrc5trictsd Funds Tot£d Fiinds 2024 Total Funds 2023 Independent Examiner's f¢¢ BEll]k clwges Staff Training Clothing costs TravelliDg Insuranc Licenses SU Development Pieiiii8es expenses Office expenses Suudry eAPOll8es Advertising Legal &lld professional fees Depie¢iation 4,000 362 1,668 489 319 4,371 403 4,287 4,239 160 377 1,528 ,600 2,296 26,099 4,000 362 1,668 489 319 4,371 403 4,287 4,239 160 377 1,528 1,600 2,296 26,099 3,850 2,503 326 508 3,238 396 4,854 15,371 125 610 ,623 830 1,743 36,420 All resources expended for governance ¢osts were provided from unrestricl'ed fLind8 in 2024. Page 19
Bishop Grossetesl'e University Stlldellts, Unloll Notes to the Fingdncial Statements for the Year Ended 31 July 2024 'onilrtued Total resources ellded Income from charitable aetliltles Raiylng fullds Support C08ts Total Direct ¢ost$ Fundraising costs EMplOnellt costs Independent ¢xaminer's fee Bank cl]arges 5,422 41,370 152,597 46,792 152,597 4,000 4,000 5,422 193,967 4,362 203.751 Support costs Staff training Clothing costs Trnvelling 1,668 489 319 4,371 403 4,287 4,239 160 377 1,528 1,600 309 1,987 21,737 1,668 489 319 4,371 403 4,287 4,239 160 377 1,528 1,600 309 1987 Licenses SU Development. Premises ¢xpens¢s Office expenses Swidry expense8 Advertising Legal atsd profes8iollal fees Depreciation of fixtures & fittings Depreciation of Office'equiTrent 5,422 193 967 225 488 All resource8 expended were provid¢d from iinreBtricted llds in 2024 aiid 2023. Independent exaniin¢T'S fecs are wnsid¢red to be the only governance cost'8 of the charity in 2024 and 2023. 9 Incom The whole of the incoine is attrIlble to the principle aclivities of the Students, Union condu¢tsd within the United Kingdom. 10 Trustees, remun¢4rgtion During the cutTent and prior year, iio Trnstees received any remulleratio benefits in kiiid or reinJbuTsement of expenses, Page 20
Bishop Gro8seteste Unlverslty Stiidents, Ullion Notss to the Ffinancial Statements for the Year Ended 31 July 2024 continued 11 Net Imcomlng resources Net ineomiiig re8our¢¢s is 8tated after ¢harging: 2024 2023 Depreciation of owned a88eÉ8 (ProfJt)/Loss on thspo8al 2,296 1,756 (14) 12 Employths, remlln¢ratlon Tho average numbi'r of persons employed by the cbarity (excluding lrnstees) duriiig the year, &nalysed by calegory, was as follows.. 2024 2023 No. Administrativ¢ SU l¥esident SU Vice president No &nployee re¢eiv¢d remuneration amouiiting to more thè £60,000 in either year. Key management p6rsounel Losts during the year totalled £49,221 (2023.. £44,497). The aggregat¢ payroll costs of thgse peonS were a% followE*.' 2024 2023 Wages and salaries 152,597 143,699 Page 21
Blshop Grosseteste University Students, Ullion Notes to the Financial Statements for the Year Ended 31 Juty 2024 continued 13 Tallglble red llssets, Flxtures, fittlllgs and equlpment Cost As at l August 2023 Additions As at 31 July 2024 83,750 Depreciatlon As at l AUt 2023 Cbarge for tb¢ y¢ar As at 31 July 2024 79,427 81,723 Net book value As at 31 July 2024 As at 31 July 2023 14 Debtors 2024 2023 TtEde debtors Otha debtors 3,027 2,873 15 Cre41ltur6: Amounts fAUlng due within on¢ ye&r 2024 2023 Trade editOrS Aecrnals Ind defel'red incoine Other creditors 681 19,822 281 20,784 18,140 3,398 22.858 Page 22
Bishop Grosseteste University Students, Union Notes to the Fillancial Statsmellts for the Year Ended 31 July 2024 . CORTtinued J.6 C4pltsl ¢ominltmentS At 31 July 2024 the ¢]Jarity had no Capital commitments relating to Student Union d¢velopment improvements (2023: £6,059). 17 Related partles Due to the n&thre of the Student Union's opei'ations and the Colliposition of the Board of Trustees (being) drawn from private and publto sector organTsations) it is illevitabl¢ that transactions will take pla¢e with organisation8 in which a memb¢r of the board may have all interest. All tran8aotions involvillg the organisa¢ion in whiGh a member of the Board may have ai) interest aye conducted at arm's length and in aG¢ordartce with tkn¢ Sttent Unioii'8 finmrial regulations Ia norinal piocuremeDt procedures. No transactions were identified which Should b¢ disclosed under the Provisions of FRS 102. In the Opillion of the Board there 18 no controlling party. 18 Analysls of funds At l August 2023 Incoming resour¢es Resources expended At31 July 2024 G¢ner81 Fuiids Unre8trict¢d illcome fund io All fullas in 2024 of £115,197 were unrestricted. Dwing 2024 incoining resources totalled £232,478 and Tesoirceg expelldcd totslled £225,488. Witbin Unrestiicted lIts at the year end £9,384 (2023,. £8,168) is designated ts) clubs and societi¢s for continuing activiti¢s into th¢ 31 July 2025 year elld. The Chlty I not d¢signated any further fimdg other than to the coutinuing activities of th¢ clwity into ¢h¢ fiiture. The University agreed that the block grant would be increased to keep pace with inflation from 2023124. This &greeinent significantly enhall¢eS the financial stability of the 8tud¢nt union and opens up the possibility of utilizing serveS for member- benefiting PTojccts, rather than merely shoring lip th¢ ajmual student unton biget., A new str&tegi¢ plan for th¢ sthdents, union is being schedul¢d for the stt of the 25126 aGadeinic year, this plan will now b¢ able to Incorpote su¢li Inenther benefiting proj18 for futtire years. Pag¢ 23
Blshop Grosseteste University Sthdents, Union Notes to the Financial Statements for the Year Ended 31 July 2024 cDntinuFd 19 Net assets by thnd, UnrestrlLted Funds Totsl Funds 2024 Total fi llnds 2023 Tangible assets Cun'¢iit assets Creditors: Amounts falling due within one year Net assets 6,361 129,620 (20,784 115,197 6,361 129,620 20,784) 115,197 4,323 126,742 108,207 Page 24
Blshop Grosseteste Universlty Students, Union Statement of financ1 actlvltles by fund Year Ended 31 July 2024 Unrestricted Unrestricted incom¢ fund income fund 2024 2023 Incoming resource lll¢oming resources from generated fld8 TIBilmg aGtiviti¢s Investment income Icoming tesources from charitable activities Total inc4)ming resources Resources expended Costs of generating funds Raising fi]nds Charitable activities Governallce CDsts Total resources expended 14,511 13,081 13,375 9,228 203 679 226,282 232,478 5,422 193,967 5,032 183,602 225 488 225 054 Net movements in fiinds 6,990 1,228 R¢collciliation of funds, Total fifftds brought forw,atd Tot&1 luuds cattied forwardi 108 207 106 979 108 This page does llot forn] part of the stathtory financial 8tatemenl8. Page 25