2022-07-31-accounts - Keele University Students' Union

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	Page
Reference and Administrative Details ofthe Charity, its Trustees and Advisers	1-2
Trustees' Report	3-10
Trustees' Responsibilities Statement
Independent Auditors' Report on the Financial Statements	12-15
Consolidated Statement ofFinancial Activities
Consolidated Balance Sheet	17
Charity Balance Sheet	18-19
Consolidated Statement ofCash Flows	20
Notes to the Financial Statements	21-45

			Unrestricted	Restricted	Total	Total
			funds	funds	funds	funds
		Note	2022 f	2022f	2022 6	2021 6
Income from:
Donations and legacies			1,905,864	96,095	2,001,959	2,337,191
Charitable activities			105,302	339,130	444,432	488,227
Other trading activities			3,992,337		3,992,337	101,845
Investments			233		233	464
Other income			3,608		3,608	6,400
Total income			6,007,344	435,225	6,442,569	2,934,127
Expenditure on:
Raising funds			4,310,287		4,310,287	572,536
Charitable activities		8	1,781,700	436,241	2,217,941	2,424,509
Total expenditure			6,091,987	436,241	6,528,228	2,997,045
Net expenditure			(84,643)	(1,016)	(85,659)	(62,918)
Transfers between	funds	19	(5,152)	5,152
Net movement in	funds		(89,795)	4,136	(85,659)	(62,918)
Reconciliation of	funds:
Total funds brought	forward		(1,718,361)	303,974	(1,414,387)	(1,351,469)
Net movement in funds			(89,795)	4,136	(85,659)	(62,918)
Total funds carried forward			(1,808,156)	308,110	(1,500,046)	(1,414,387)

						2022		2021
				Note		F		6
Fixed assets
Tangible assets				13		703,393		82,213
						703,393		82,213
Current assets
Stocks				15	182,668		89,183
Debtors				16	163,448		179,965
Cash at bank and	in hand				388,194		445,033
					734,310		714,181
Creditors: amounts	falling due within		one
year				17	(894,976)		(604,161)
Net current liabilities Iassets						(160,666)		110,020
Total assets less	current	liabilities				542,727		192,233
Creditors: amounts	falling due after		more
than one year				18		(2,042,773)		(1,606,620)
Total net liabilities						(1,500,046)		(1,414,387)
Charity funds
Restricted funds				19		308,110		303,974
Unrestricted funds
Unrestricted funds	excluding	pension	liability	19	(206,834)		(41,706)
Pension reserve				19	(1,601,322)		(1,676,655)
Total unrestricted	funds			19		(1,808,156)		(1,718,361)
Total funds						(1,500,046)		(1,414,387)

					2022		2021
			Note		F		6
Fixed assets
Tangible assets			13		97,681		82,213
Investments			14		100		100
					97,781		82,313
Current assets
Stocks			15			89,183
Debtors			16	391,852		179,965
Cash at bank and	in hand			354,732		445,033
				746,584		714,181
Creditors: amounts	falling	due within one
year			17	(654,147)		(604,261)
Net current assets					92,437		109,920
Total assets less	current	liabilities			190,218		192,233
Creditors: amounts	falling	due after more
than one year			18		(1,525,092)		(1,606,620)
Net liabilities excluding		pension asset			(1,334,874)		(1,414,367)
Total net liabilities					(1,334,874)		(1,414,367)
Charity funds
Restricted funds			19	308,110		303,974
Total restricted funds			19		308,110		303,974
Unrestricted funds
			19	(41,652)		(41,706)
Pension reserve			19	(1,601,332)		(1,676,655)
Total unrestricted	funds		19		(1,642,984)		(1,718,361)
Total funds					(1,334,874)		(1,414,387)

				2022	2021
				E	6
Cash flows from operating	activities
Net cash generated by/(used	in) operating		activities	129,165	(86,552)
Cash flows from investing	activities
Dividends, interests and rents from investments				233	464
Grants received				3,608
Purchase oftangible fixed assets				(717,905)	(40,184)
Net cash used in investing	activities			(714,064)	(39,720)
Cash flows from financing	activities
Repayments of borrowing				(62,581)
New loans				596,009
Interest payable				(5,368)
Net cash provided by financing activities				528,060
Change in cash and cash	equivalents	in	the year	(56,839)	(126,272)
Cash and cash equivalents	at the beginning		ofthe year	445,033	571,305
Cash and cash equivalents	at the end	ofthe year		388,194	445,033
The notes on pages 21 to 45 form part of		these financial statements

				Unrestricted	Restricted	Total
				funds	funds	funds
				2022	2022	2022
				E	E	E
Donations				674,499	69,525	744,024
Grants				1,231,365		1,231,365
Coronavirus	Job	Retention	Scheme		26,570	26,570
				1,905,864	96,095	2,001,959
				Unrestricted	Restricted	Total
				funds	funds	funds
				2021	2021	2021
				F	F	E
Donations				661,274	67,500	728,774
Grants				1,069,956		1,069,956
Coronavirus	Job	Retention	Scheme		538,461	538,461
				1,731,230	605,961	2,337,191

			Unrestricted	Restricted	Total
			funds	funds	funds
			2022	2022	2022
			E	E	E
Bar Income
Entertainment	Income
Shop &Catering		Income
Services 8 Welfare Income			105,302	6,611	111,913
Income from	Clubs 8 Societies			332,519	332,519
			105,302	339,130	444,432

		Unrestricted	Restricted	Total
		funds	funds	funds
		2021	2021	2021
		E	6	E
Bar &Catering	Income	133,052		133,052
Entertainment	Income	4,886		4,886
Shop Income		140,484		140,484
Services &Welfare Income		111,911		111,911
Income from Clubs &Societies			97,894	97,894
		390,333	97,894	488,227

				Unrestricted	Total
				funds	funds
				2022	2022
				F	6
Marketing	Income			79,912	79,912
Commercial		hire oftransportation		16,948	16,948
Other Fundraising			Income	1,474	1,474
				98,334	98,334
				Unrestricted	Total
				funds	funds
				2021	2021
				6	6
Marketing	Income			5,885	5,885
Bar Income				76,010	76,010
Entertainment		Income		18,261	18,261
Commercial		hire oftransportation		340	340
Other Fundraising			Income	1,349	1,349
				101,845	101,845

			Unrestricted	Total	Total
			funds	funds	funds
			2022	2022	2021
			6	6	8
Trading	Subsidiary	income	3,894,003	3,894,003

		Unrestricted	Total
		funds	funds
		2022	2022
		F	E
Investment	Income	233	233
		Unrestricted	Total
		funds	funds
		2021	2021
		F	E
Investment	Income	464	464

	Unrestricted	Restricted
	funds	funds	Total
	2022	2022	2022
	8	8	6
Services 8 Welfare	1,755,916	131,183	1,887,099
Clubs &Societies		305,058	305,058
SUSS Pension Costs	25,784		25,784
	1,781,700	436,241	2,217,941

Summary by fund type (continued)
	Unrestricted	Restricted
	funds	funds	Total
	2021	2021	2021
	6	6	6
Bars &Catering	387,014		387,014
Entertainment	233,264		233,264
Shop	459,417		459,417
Services &Welfare	1,174,180	62,023	1,236,203
Clubs &Societies		83,911	83,911
SUSS Pension Costs	24,700		24,700
	2,278,575	145,934	2,424,509

	Staff costs	Depreciation	Other costs	Total
	2022	2022	2022	2022
	F	F	F	8
Services &Welfare	703,329	37,019	1,146,751	1,887,099
Clubs &Societies			305,058	305,058
SUSS Pension Cost			25,784	25,784
	703,329	37,019	1,477,593	2,217,941
	Staff costs	Depreciation	Other costs	Total
	2021	2021	2021	2021
	6	6	6	6
Bars &Catering	130,934	9,817	246,263	387,014
Entertainment	100,745	1,873	130,646	233,264
Shop	245,940	6,074	207,403	459,417
Services 8 Welfare	639,420	25,921	570,861	1,236,202
Clubs &Societies			83,912	83,911
SUSS Pension Cost			24,700	24,700
	1,117,039	43,685	1,263,785	2,424,509

	Activities
	undertaken	Support	Total
	directly	costs	funds
	2022	2022	2022
	R
Services &Welfare	518,268	1,368,831	1,887,099
Clubs and Societies	305,058		305,058
SUSS Pension Costs	25,784		25,784
	849,110	1,368,831	2,217,941
	Activities
	undertaken	Support	Total
	directly	costs	funds
	2021	2021	2021
	E
Bars &Catering	191,405	195,609	387,014
Entertainment	62,107	171,157	233,264
Shop	288,260	171,157	459,417
Services 8 Welfare	506,954	729,249	1,236,203
Clubs and Societies	83,911		83,911
SUSS Pension Costs	24,700		24,700
	1,157,337	1,267,172	2,424,509

		Entertainme		Services &	Clubs &
	Bars	nt	Shop	Welfare	Societies
	2022 E	2022 F	2022	2022 6	2022f
Staff costs				185,948
Depreciation				16,370
Purchases				315,950	305,058
				518,268	305,058

Analysis ofdirect costs (co	ntinued)
				BUSS
				Pension	Total
				Costs	funds
				2022	2022
Staff costs					185,948
Depreciation					16,370
Purchases				25,784	646,792
				25,784	849,110
		Entertainme		Services &	Clubs &
	Bars	nt	Shop	Welfare	Societies
	2021	2021	2021	2021	2021
	E		6
Staff costs	114,289	37,911	183,106	371,703
Depreciation	9,817	1,873	6,074	25,921
Purchases	67,299	22,323	99,080	109,330	83,911
	191,405	62,107	288,260	506,954	83,911
				BUSS
				Pension	Total
				Costs	funds
				2021	2021
Wages and salaries					707,009
Depreciation					43,685
Purchases				24,700	406,643
				24,700	1,157,337

		Entertainme		Services &	Total
	Bars	nt	Shop	Welfare	funds
	2022	2022	2022	2022	2022
	E	6	6	6	6
Staff costs				517,381	517,381
Depreciation				20,649	20,649
Administration				67,521	67,521
Finance				32,532	32,532
Rent				674,499	674,499
Audit fees &other governance
costs				13,371	13,371
Facilities &Premises				42,878	42,878
				1,368,831	1,368,831

		Entertainme		Services &	Total
	Bars	nt	Shop	Welfare	funds
	2021	2021	2021	2021	2021
	E	6	6	6	6
Staff costs	16,645	62,834	62,834	267,717	410,030
Administration	22,074	13,360	13,360	56,925	105,719
Finance	5,106	3,091	3,091	13,171	24,459
Facilities &Premises	13,715	8,302	8,302	35,370	65,689
Rent	138,069	83,570	83,570	356,065	661,274
	195,609	171,157	171,157	729,248	1,267,171

Net Inco	me/	(Expenditure	)
				2022	2021
				6	6
Depreciation		oftangible	fixed assets
-owned	by	the charity		96,725	44,622
Auditors	remuneration			12,000	6,000
Operating	lease rentals			26,171	7,188
				134,896	57,810

Staff costs
	Group	Group	Charity	Charity
	2022	2021	2022	2021
	E	E	E	F.
Wages and salaries	1,798,555	1,458,965	721,062	1,458,965
Social security costs	123,305	92,625	74,920	92,625
Other pension costs	163,619	72,427	142,831	72,427
	2,085,479	1,624,017	938,813	1,624,017
The average number ofpersons employed	by the charity during	the year was as follows:
			Group	Group
			2022	2021
			No.	No.
Trustees			5	5
Permanent			67	61
Student			109	84
			181	150

Trustees' remuneration
	2022	2021
	E	E
Remuneration	104,087	90,231
	104,087	90,231

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	Investments
	in
	subsidiary
	companies
charity
Cost or valuation
At 1 August 2021	100
At 31 July 2022	100
Net book value
At 31 July 2022	100
At 31 July 2021	100

	The following	was	a subsidiary undert	aking ofthe charity	:
	Name					Company	Holding	Included	in
						number		consolidation
	Keels SU Trading		Limited			11414142	100% Yes
	The financial	results ofthe subsidiary		for the year were:
	Name			Income	Expenditure		Profit/(Loss)	Net	assets
				E		E	ISurplus/
							(Deficit) for
							the year
	Keels SU Trading		Limited	3,894,003	(4,059,175)		(165,172)	(165,072)
15.	Stocks
				Group		Group	Charity		Charity
					2022	2021	2022		2021
	Finished goods			182,668		89,183			89,183

							Group	Group	Charity	Charity
							2022	2021	2022	2021
							E	E	E	F.
Due within one year
Trade debtors							21,375	15,322	5,338	15,322
Amounts owed by group undertakings									309,485
Other debtors							40,736	10,397	4,438	10,397
Prepayments	and accrued income						101,337	154,246	72,591	154,246
							163,448	179,965	391,852	179,965
Creditors: Amounts				falling due		within one year
							Group	Group	Charity	Charity
							2022	2021	2022	2021
							F	F	E	E
Otherloans							44,615
Trade creditors							203,389	122,377	92,317	122,377
Amounts owed to group					undertakings					100
Other taxation	and	social security					88,488	26,437	88,488	26,437
Other creditors							152,550	115,386	140,388	115,386
Accruals and	deferred			income			405,934	339,961	332,954	339,961
							894,976	604,161	654,147	604,261
							Group	Group	Charity	Charity
							2022	2021	2022	2021
							E	E	E	E
Deferred income at			1	August			289,772	279,007	289,772	279,007
Resources deferred			during the year				333,211	289,772	283,108	289,772
Amounts released		from			previous	periods	(284,908)	(279,007)	(284,908)	(279,007)
							338,075	289,772	287,972	289,772

	Group	Group	Charity	Charity
	2022	2021	2022	2021
	6	E	6	F.
Otherloans	517,681
Other creditors	1,525,092	1,606,620	1,525,092	1,606,620
	2,042,773	1,606,620	1,525,092	1,606,620

					Group	Group	Charity	Charity
					2022	2021	2022	2021
					F	F	F
Payable	or	repayable	by	instalments	1,419,090	1,268,681	1,155,866	1,268,681
					1,419,090	1,268,681	1,155,866	1,268,681

Statement	offunds - current	year
		Balance at 1			Transfers	Balance at
		August 2021	Income	Expenditure	in/out	31 July 2022
		E	E	E	E	E
Unrestricted	funds
General Funds		(41,706)	6,007,344	(6,066,203)	(106,269)	(206,834)
Pension reserve		(1,676,655)		(25,784)	101,117	(1,601,322)
		(1,718,361)	6,007,344	(6,091,987)	(5,152)	(1,808,156)
Restricted	funds
Lindsay Loan Fund		1,459		(6,611)	5,152
International	Loan Fund	7,670	6,611			14,281
Safety Bus		36,198	69,525	(97,799)		7,924
Safeguarding	Projects	203		(203)
Clubs &Societies		258,444	332,519	(305,058)		285,905
Coronavirus	Job Retention
Scheme			26,570	(26,570)
		303,974	435,225	(436,241)	5,152	308,110
Total offunds		(1,414,387)	6,442,569	(6,528,228)		(1,500,046)

Statement offunds	- prior ye	ar
		Balance at
		1 August			Transfers	Balance at
		2020	Income	Expenditure	in/out	31 July 2021
		E	6	6	6	6
Unrestricted funds
Designated funds
Student opportunities		54,337		(207,622)	153,285
General funds
General Funds		48,801	2,230,272	(2,618,789)	298,010	(41,706)
Pension reserve		(1,739,121)		(24,700)	87,166	(1,676,655)
		(1,690,320)	2,230,272	(2,643,489)	385,176	(1,718,361)
Total Unrestricted	funds	(1,635,983)	2,230,272	(2,851,111)	538,461	(1,718,361)
Restricted funds
Lindsay Loan Funds		1,459				1,459
International Loan Fund		7,670				7,670
Safety Bus		30,721	67,500	(62,023)		36,198
Safeguarding Projects		203				203
Clubs &Societies		244,461	97,894	(83,911)		258,444
Coronavirus Job Retention
Scheme			538,461		(538,461)
		284,514	703,855	(145,934)	(538,461)	303,974
Total offunds		(1,351,469)	2,934,127	(2,997,045)		(1,414,387)

Analysis	of net assets between	funds - current year
			Unrestricted	Restricted	Total
			funds	funds	funds
			2022	2022	2022
			6	6	6
Tangible	fixed assets		703,393		703,393
Current	assets		426,200	308,110	734,310
Creditors	due within one year		(894,976)		(894,976)
Creditors	due in more than one year		(2,042,773)		(2,042,773)
Total			(1,808,156)	308,110	(1,500,046)
Analysis	ofnet assets between	funds - prior year
			Unrestricted	Restricted	Total
			funds	funds	funds
			2021	2021	2021
			F	F	6
Tangible	fixed assets		82,213		82,213
Current	assets		151,763	562,418	714,181
Creditors	due within one year		(345,717)	(258,444)	(604,161)
Creditors	due in more than one year		(1,606,620)		(1,606,620)
Ttl			(1,718,361)	303,974	(1,414,387)

21.	Reconciliation of		n	et	movem	ent	in funds	to	net cas	h flow fr	om o	perating	activities
													Group	Group
													2022	2021
													E	6
	Net expenditure for		the year (as per Statement						of Financial Activities)				(85,659)	(62,918)
	Adjustments for:
	Depreciation charges												96,725	44,622
	Release ofgrant												(3,608)
	Dividends, interests			and rents		from investments							(233)
	Interest payable												5,368
	Decrease/(increase)			in stocks									(93,485)	26,264
	Decrease/(increase)			in debtors									16,517	(3,565)
	Increase/(decrease)			in	creditors								193,540	(90,491)
	Investment income		recognised			in	statement	of	financial	activities				(464)
	Net cash provided		by/(used			in)	operating	activities					129,165	(86,552)
22.	Analysis ofcash	and			cash equivalents
													Group	Group
													2022	2021
													F	6
	Cash in hand												388,194	445,033
	Total cash and cash equivalents												388,194	445,033
23.	Analysis ofchanges				in net debt
													Other non-
							At 1 August						cash	At 31July
							2021		Cash	flows	New	Loans	changes	2022
								6		6		6	6	6
	Cash at bank and	in		hand			445,033		(56,839)					388,194
	Debt due within 1 year								66,157		(62,549)		(48,223)	(44,615)
	Debt due after 1 year										(533,460)		44,647	(488,813)
							445,033			9,318	(596,009)		(3,576)	(145,234)

under non-	can	cellable operating leases as follow	s:
			Group	Group	Charity	Charity
			2022	2021	2022	2021
			6	6	6	6
Not later than		1 year	23,558	26,171	23,558	26,171
Later than	1 year and not later than 5years		40,327	63,885	40,327	63,885
			63,885	90,056	63,885	90,056