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2022-07-31-accounts

Page
Reference and Administrative
Details		 ofthe Charity, its Trustees and Advisers 1-2
Trustees'
Report
Trustees' Responsibilities
Statement
Independent
Auditors'
Report on the		 Financial Statements 12-15
Consolidated
Statement
of Financial		 Activities 16
Consolidated
Balance Sheet		 17
Charity Balance Sheet 18
Consolidated
Statement ofCash Flows		 19
Notes to the Financial Statements 20-44

Sabbatical Officers 2022/23 (From 1 July 2022 July 2022 to 30June 2023) to 30June 2023) to 30June 2023)
Daniella
Marley,		 President (Chair ofthe Board)
Joshua Borokinni, VP Wellbeing and Diversity
Tonari Arikekpar, VP Education
Mitch Laughton, VP Activities
2021/22 (From 1 July 2021 to 30June 2022)
Emilia Dowse, President
Fawziyyah
Ahmed, VP Wellbeing		 and Diversity
Charlie Atkinson, VP Education
Madeleine
Morton, VP Activities
Student Trustees Charles Gage
Aira Ong (appointed
28		 October 2021)
Oliver Smith (appointed 28 October 2021)
External Trustees Jane Hopkinson, (Deputy Chair ofthe Board)
James Hemsley
Graham
Stirling
Helen Cocks
Company
registered
number 10676070
Charity registered
number 1172830
Principal Office Students'
Union		 Building
University
of Plymouth
Drake Circus
Plymouth
PL4 8AA
Chief Executive Antony Blackshaw (interim, resigned 6 August 2021)
Nicky Goldthorpe (Appointed 8September 2021)
Independent auditors Bishop Fleming LLP
Chartered
Accountants
Salt Quay House
4 North East Quay
Sutton Harbour
Plymouth
PL4 OBN
Bankers HSBC Bank Pic
PO Box26
4 Old Town Street
Plymouth
PL1 1DD
Page 1

or
causes
catastrophic		 or
causes
catastrophic		 Return,
Operations		 Return,
Operations		 8
consequences
upon		 Infrastructure Stakeholder
staff/student
safety
and/or		 Group
institutional sustainability
and		 Relevant
insurance		 policies in
reputation place and reviewed annually
Commercial Income Reduction in expected
income		 Increased range of offerings
from commercial
operations.		 Monitor competition
Price
advantage		 due to
NUSSL membership
investment
in
infrastructure
and upkeep ofthe outlets
Student Numbers Significant unplanned Attendance
at		 Student
reductions in student
numbers		 Numbers
Planning		 Committee
may
result
in
inability
to		 Involvement
in		 open /
remain
financially
sustainable.		 applicant
days
Contact with Recruitment
Pension SU SS pension
deficit		 Funds
allocation
within
3 year
becomes immediately
payable		 budget
planning
leading to
catastrophic
financial
impact, or substantial
increases in
annual
repayments leading to ongoing
significant cost pressures

Unrestricted
funds- Unrestricted
pension Restricted funds- Total Total
liability funds general funds funds
2022 2022 2022 2022 2021
Note E
INCOME AND
ENDOWMENTS
FROM:
Donations
and legacies		 4 3,162 2,110,731 2,113,893 2,289,984
Charitable
activities		 5 558,985 2,279,154 2,838,139 808,106
Investments 6 4,017 4,017 4,253
Other income 108,751
TOTAL INCOME AND
ENDOWMENTS 562,147 4,393,902 4,956,049 3,211,094
EXPENDITURE ON:
Raising funds 60 60 221
Charitable
activities		 8. (246,485) 566,070 4,301,157 4,620,742 3,067,935
TOTAL
EXPENDITURE (246,485) 566,070 4,301,217 4,620,802 3,068,156
NET INCOME/
(EXPENDITURE)
BEFORE NET
GAINS/ (LOSSES)
ON INVESTMENTS 246,485 (3,923) 92,685 335,247 142,938
Net gains/(losses) on
investments (14,014) (14,014) 8,363
NET INCOME
/
(EXPENDITURE) 246,485 (3„923) 78,671 321,233 151,301
Transfers
between
funds (25,343) 25,343
NET MOVEMENT IN
FUNDS 246,485 (29,266) 104,014 321,233 151,301
RECONCILIATION OF
FUNDS:
Total funds brought
forward (1,863,663) 324,417 1,308,490 (230,756) (382,057)
Net movement
in funds		 246,485 (29,266) 104,014 321,233 151,301
TOTAL FUNDS
CARRIED
FORWARD (1,617,178) 295,151 1,412,504 90,477 (230,756)

Note 2022f 2021f
FIXEDASSETS
Tangible assets 16 443,940 535,725
Investments 17 267,538 281,150
711,478 816,875
CURRENT ASSETS
Stocks 18 112,380 90,872
Debtors 19 118,641 105,006
Cash at bank and in hand 26 1,593,056 1,589,523
1,824,07? 1,785,401
Creditors: amounts falling due within one
year 20 (827,900) (969,369)
NET CURRENT ASSETS 996,177 816,032
TOTAL ASSETS LESSCURRENT
LIABILITIES 1,707,655' 1,632,907
Creditors: amounts falling due after more
than one year 21 (1,617,178) (1,863,663)
TOTAL NET ASSETS/ (LIABILITIES) 90,477 (230,756)
CHARITY FUNDS
Unrestricted
- pension		 liability 22 (1,617,178) (1,863,663)
Restricted
funds		 22 295,151 324,417
Unrestricted
funds		 22 1,412,504 1,308,490
TOTAL FUNDS 90,477 (230,756)

2022' 2021
Note
FIXEDASSETS
Tangible assets 16 443,940 535,725
Investments 17 267,539 281,151
711,479 816,876
CURRENT ASSETS
Stocks 18 112,380 90,872
Debtors 19 119,551 105,351
Cash at bank and in hand 1,592,105 1,589,398
1,824,036 1,785,621
Creditors: amounts falling due within one
year 20 (827,579) (969,369)
NET CURRENT ASSETS 996,457 816,252
TOTAL ASSETS LESSCURRENT
LIABILITIES 1,707,936 1,633,128
Creditors: amounts falling due after more
than one year 21 (1,617,178) (1,863,663)
TOTAL NET ASSETS/ (LIABILITIES) 90,758 (230,535)
CHARITY FUNDS
Unrestricted
-pension		 liability 22 (1,617,178) (1,863,663)
Restricted
funds		 22 295,151 324,417
Unrestricted
funds		 22 1,412,785 1,308,711
TOTAL FUNDS 90,758 (230,535)

2022 2021
Note
CASH FLOWS FROM OPERATING ACTIVITIES
Net cash provided
by operating
activities		 25 42,105 947,277
CASH FLOWS FROM INVESTING ACTIVITIES
Purchase oftangible fixed assets (49,373) (163,510)
Gain/ (loss) on investments 14,014 11,604
interest received 4,017 1,012
NET CASH PROVIDED BY/ (USED IN) INVESTING ACTIVITIES (31,342) (150,894)
CHANGE
IN CASH AND CASH EQUIVALENTS		 10,763 796,383
Cash and cash equivalents
at the beginning		 ofthe year 1,589,523 793,140
CASH AND CASH EQUIVALENTS AT THE END OF THE YEAR 26 1,600,286 1,589,523

Restricted Unrestricted Total Total
funds funds funds funds
2022 2022 2022 2021
E
Donations 6,736 6,736
University Block Grant 2,103,995 2,103,995 2,006,110
COVID-19 CJRS Grant 3,162 3,162 283,874
TOTAL 2022 3,162 2,110,731 2,113,893 2,289,984
TOTAL 2021 283,874 2,006,110 2,289,984

Restricted Unrestricted Total Total
'funds funds funds funds
2022 2022 2022 2021
Retail and other trade 2,076,501 2,076,501 310,351
COVID student testing income 10,884 10,884 198,014
Representation and Representation
sponsorship 2,068 2,068 1,000
Sports and Recreation Members Contributions 137,748 137,748 64,329
Sports and Recreation Sponsorship 11,598 11,598 7,059
Income from charitable activities-
Representation sponsorship 39,395 39,395 25,000
External funding grants 960 960 1,100
Clubs and societies 558,985 558,985 201,253
TOTAL 2022 558,985 2,279,154 2,838,139 808,106
TOTAL 2021 201,253 606,853 808,106

Unrestricted Total . Total
funds funds funds
2022 2022 2021
Investment income 4,017 4,017 4,253
TOTAL 2021 4,253 4,253

Unrestricted Total Total '
funds funds funds
2022 2022 2021
Other incoming resources 108,751
TOTAL 2021 108,751 108,751
Unrestricted
funds-
pension Restricted Unrestricted
liability funds funds Total Total
2022 2022 2022 2022 2021
E
Retail and Other Trade 2,180,039 2,180,039 835,594
COVID-19 Grant 3,162 (3,162)
Welfare 195,827 195,827 194,215
Representation and
Representation Sponsorship 926,855 926,&55 1,052,444
Societies, Sports and
Recreation
Sponsorship		 926,970 926,970 794,233
FRS102 Pension Deficit
Liability (246,485) (246,485) (121,311)
COVID-19 Student Testing 1,612 1,612 80,874
Governance 73,016 73,016 76,352
Clubs and Societies 562,90& 562,90& 155,534
TOTAL 2022 (246,485) 566,070 4,301,157 4,620,742 3,067,935
TOTAL 2021 (121,311) 439,408 2,749,838 3,067,935

Unrestricted Total Total
funds funds funds
2022 2022 2021
E
Governance
Auditors'		 remuneration 14,300 14,300 13,500
Trustee Board expenses 384 384
Executive travel and phone expenses 1,246 1,246 740
Support staff costs 32,058 32,058 24,164
Support facilities costs 40,958 40,958 37,948
TOTAL 2022 88,946 88,946 76,352
TOTAL 2021 76,352 76,352
10. STAFF &FACILITIES COSTS
2022 2021
Wages and salaries 641,162 483,273
Training costs 6,287 2,849
General adminstration 152,378 105,844
Legal and professional 39,659 35,663
Depreciation 27,591 31,482
Rent 580,752 580,752
Other expenses 12,512 20,685
1,460,341 1,260,548

Support costs d etailed above are appo rtion ed
to projects as		 below:
Basis of Support staff Facilities Total costs Total costs
apportionment 2022 costs 2022 2022 2021
'/o E
Retail and other trade 30 192,349 245,754 438,103 252,110
Societies, Sports and 20 128,232 163,836 292,068 252,110
Recreation
Welfare 7 44,881 57,343 102,224 88,238
Representation and 38 243,642 311,288 554,930 605,063
Representation
Sponsorship
Governance 32,05& 40,958 73,016 63,027
Total costs apportioned 100 641,162 819,179 1,460,341 1,260,548
NET INCOME
This is stated after charging:
2022 2021
Depreciation
of		 tangible fixed assets 139,749 111,741
Auditors'
remuneration		 - audit 14,300 12,030
Auditors'
remuneration		 -other services 715
Operating
lease		 rentals 580,752 580,752
734,801 705,238

Activities
undertaken Support Total Total
directly costs funds funds
2022 2022 2022f 2021
Retail and Other Trade 1„741,936 438,103 2,180,039 835,594
Welfare 93,603 102,224 195,827 194,215
Representation and Representation
Sponsorship 371,924 554,931 926,855 1,052,444
Sports and Recreation Sponsorship 634,902 292,068 926,970 794,233
FRS102Pension Deficit Liability (246,485) (246,485) (121,311)
COVID-19 Student Testing 1,612 1,612 80,874
Governance 73,016 73,016 76,352
Clubs and Societies 562,908 562,908 I55,534
3,160,400 1,460,342 4,620,742 3,067,935
TOTAL 2021 1,540,921 1,527,014 3,067,935

Group Group Charity Charity
2022 2021 2022 2021
Wages and salaries 1,795,032 'l,600,067 1,795,032 1,600,067
Social security costs 108,0&4 94,936 108,084 94,936
Contribution to defined contribution pension
schemes 55,787 56,812 55,787 56,812
FRS102pension
deficit		 liability (246,485) (121,311) (246,485) (121,311)
1,712,418 1,630,504 1,712,418 1,630,504

Group Group
2022 2021
No. No.

Short-term
leasehold Fixtures and
property
f		 fittings
f.		 Total '
f
COST OR VALUATION
At 1 August 2021 652,594 318„414 971,008
Additions 49,373 49,373
Disposals (36,576) (36,576)
At 31 July 2022 652,594 331,211 983,805
DEPRECIATION
At 1 August 2021 197,298 237,985 435,283
Charge for the year 65,127 74,622 139,749
On disposals (35,167) (35,167)
At 31 July 2022 262,425 277,440 539,865
NET BOOK VALUE
At 31 July 2022 390,169 53,771 443,940
At 31 July 2021 455,296 80,429 535,725
17. FIXEDASSET INVESTMENTS
Investments
GROUP
COST OR VALUATION
At 1 August 2021 281,150
Revaluations (13,612)
AT 31 JULY 2022 267,538
NET BOOK VALUE
AT 31 JULY 2022 267,538
AT 31 JULY 2021 281,150
Investments Investments
in
subsidiary
companies Investments Total
CHARITY F
COST OR VALUATION
At 1 August 2021 1 281,150 281,151
Revaluations (13,612) (13,612)
AT 31 JULY 2022 1 267,538 26.7,539
NET BOOK VALUE
AT 31 JULY 2022 1 267,538 267,539
AT 31 JULY 2021 281,150 281,151
PRINCIPAL SUBSIDIARIES
The following was a subsidiary undertaking ofthe Charity:
Name Company Registered office or principal Principal activity
number place ofbusiness
UPSU Trading
Limited		 09689028 University of Plymouth Running events
Students' Union, University of
Plymouth, Drake Circus,
Plymouth, Devon, PL4 8AA.
Class of Holding
shares
Ordinary 100'/
The financial results ofthe subsidiary for the year were:
Name Expenditure Loss for the Net assets
yearf f.
UPSU Trading
Limited		 (60) (60) (281)

Group Group Charity Charity
2022 2021 2022 2021
F
Finished goods and goods for resale 112,380 90,872 112,380 90,872

Group Group Charity Charity
2022 2021 2022 2021
F
DUE WITHIN ONE YEAR
Trade debtors 33,457 20,111 33,481 20,135
Amounts
owed by group undertakings		 886 321
Other debtors 9,602 43,979 9,602 43,979
Prepayments and accrued income 75,582 40,916 75,582 40,916
118,641 105,006 119,551 105,351

Group Group Charity Charity
2022 2021 2022 2021
Trade' creditors 651,604 674,910 651,283 674,910
Other taxation and social security 39,765 101,561 39,765 101,561
Other creditors 61,170 63,357 61,170 63,357
Accruals and deferred income 75,361 129,541 75,361 129,541
827,900 969,369 827,579 969,369,
Group Group Charity Charity
2022 2021 2022 2021
Deferred income at 1 August 2021 49,644 920 49,644 920
Resources deferred during the year 4,780 49,644 4,780 49,644
' Amounts released from previous periods (49,644) (920) (49,644) (920)
4,780 49,644 4,780 49,644

Group Group Charity Charity
2022 2021 2022 2021
Other creditors 1,617,178 1,863,663 1,617,178, 1,863,663
Group Group Charity Charity
2022 2021 2022 2021
F E
Payable or repayable by instalments '1,617,178 1,863,663 1,617,178 1,863,663

Balance at 1 Transfers Transfers Gains/ Balance at
August 2021 Income Expenditure in/out (Losses) 31July 2022
E Z
UNRESTRICTED
FUNDS
DESIGNATED
FUNDS
Capital reserves 574,428 6,736 (106,055) (2,170) 472,939
Staffing reserve 22,122 (3,192) . 20,000 38,930
External/
Matched
funding 23;364 (701) 22,663
Digital and
technology fund 20,000 10,000 30,000
Sport
development
reserve 8,000 8,000
Buildings
repair
fund 12,500 12,500
Gym reserve 32,000 32,000
Facilities
development
reserve 34,901 34,901
Pension deficit
reserve 150,000 150,000
&37,315 6,736 (109,948) 67,830 801,933
GENERAL FUNDS
Free reserves 471,396 4,387,166 (4,191,209) (42,4&7) (14,014) 610,852
Trading subsidiary (221) (60) (281)
471,175 4,387„166 (4,191,269) (42,4&7) (14,014) 610,571
TOTAL
UNRESTRICTED
FUNDS 1,30&;490 4,393,902 (4,301,217) 25,343 (14,014) 1,412,504
PENSION
LIABILITY
Pension
liability		 (1,863,663) 246,4&5 (1,617,178)

Balance at 1 Transfers Gains/ Balance at
August 2021 Income
f		 Expenditure in/out (Losses) 31July 2022
RESTRICTED
FUNDS
Clubs and
societies 324,417 558,985 (562,908) (25,343) 295,151
'
COVID-19 Grant 3,162 (3,162)
324,41? 562,147 (566,070) (25,343) 295,151
TOTAL OF
FUNDS (230,756) 4,956,049 (4,620,802) (14,014) 90,477

STATEMENT OF F UNDS - PRIOR YEAR
Balance at
1 August Transfers Gains/ Balance at
2020 Income Expenditure in/out (Losses) 31 July 2021
UNRESTRICTED
FUNDS
DESIGNATED
FUNDS
Capital reserves 737,034 (113,241) (49,365) 574,428
Staffing reserve 23,525 (1,403) 22,122
External/
Matched
funding 23,364 23,364
Digital and
technology
fund		 20,000 20,000
Buildings
repair
fund 12,500 12,500
Facilities
development
reserve 34,901 34,901
Pension deficit
reserve 150,000 150,000
1,001,324 (113,241) (50,768) 837,315
GENERAL FUNDS
Free reserves 322,895 2,725,967 (2,636,597) 50,768 8,363 471,396
Trading
subsidiary		 (221) (221)
322,895 2,725,967 (2,636,818) 50,768 8,363 471,175
TOTAL
UNRESTRICTED
FUNDS 1,324,219 2,725,967 (2,750,059) 8,363 1,308,490
PENSION
LIABILITY
Pension
liability		 (1,984,974) 121,311 (1,863,663)

Balance at
1 August Transfers Gains/ Balance at
2020 Income Expenditure in/out (Losses) 31 July 2021
F
RESTRICTED
FUNDS
Clubs and
societies 278,698 201,253 (155,534) 324,417
COVID-19 Grant 283,874 (283,874)
278,698 485,127 (439,408) 324,417
TOTAL OF
FUNDS (382,057) 3,211,094 (3,068,156) 8,363 (230,756)

Balance at 1 Transfers Gains/ Balance at
August 2021f Income Expenditure in/out (Losses) 31 July 2022
2
Designated
' funds
General		 funds 837,315
471,175		 6,736
4,387,166		 (109,948)
(4,191,269)		 67,830
(42,487)		 (14,014) 801,933
610,571
Pension liability (1,863,663) 246,485 (1,617,178)
Restricted funds 324,417 562,147 (566,070) (25,343) 295,151
(230,756) 4,956,049 (4,620,802) (14,014) 90,477
SUMMARY OF FUNDS - PRIOR YEAR
Balance at
1 August Transfers Gains/ Balance at
2020 Income Expenditure in/out (Losses) 31 July 2021
P E E
Designated
funds 1,001,324 (113,241) (50,768) 837,315
General funds 322,895 2,725,967 (2,636,818) 50,768 8,363 471,175
Pension liability (1,984,974) 121,311 (1,863,663)
Restricted funds 278,698 485,127 (439,408) 324,417
(382,057) 3,211,094 (3,068,156) 8,363 (230,756)

ANALYSIS OF NET ASSETS BETWEEN FUNDS - CURRENT YEAR
Pension Restricted Unrestricted Total
liability funds funds funds
2022f 2022 2022 2022f
Tangible fixed assets 443,940 443,940
Fixed asset investments 267,538 267,538
Current assets 295,151 1,528,926 1,824,077
Creditors due within one year (827,900) (827,900)
Creditors due in more than one year (1,617,178) (1,617,178)
TOTAL (1,617,178) 295,151 1,412,504 90,477

Unrestricted
- pension Restricted Unrestricted Total
liability funds funds funds
2021
F		 2021 2021f 2021
F
Tangible fixed assets 535,725 535,725
Fixed asset investments 281,150 281,150
Current assets 1,785,401 1,785,401
Creditors due within one year 324,417 (1,293,786) (969,369)
Creditors due in more than one year (1,863,663) (1,863,663)
TOTAL (1;863,663) 324,417 1,308,490 (230,756)

Group Group
2022f 2021
Net income for the year (as per Statement of Financial Activities) 321,233 151,301
ADJUSTMENTS FOR:.
Depreciation
charges		 139,749 111,741
(Gains)/ loss on investments (14,014) (11,604)
Interest received (4,017) (1,012)
Profit/ (loss) on the sale offixed assets (1,409) (1,331)
Decrease/ (increase)
in stocks		 (21,508) 35,072
Decrease/ (increase)
in debtors		 (13,635) (57,210)
Increase/ (decrease)
in creditors		 (364,294) 720,320
NET CASH PROVIDED BYOPERATING ACTIVITIES 42,105 947,277

Group Group
2022 2021f
Cash in hand 1,600,286 1,589,523
TOTAL CASH AND CASH EQUIVALENTS 1,600,286 1,589,523

At 1 August At 31 July
2021
f		 Cash flowsf 2022f
1,589,523 3,533 1,593,056

2022 2021
National
Union of		 Students 7,225 2,500
NUS Services membership 380 380
Advice UK 263 258
British Universities and Colleges Sports 10,760 10,491
NASMA membership 420 360
WonkHE 3,770 3,675
22,818 17,664