DocuSign Envelope ID: 839FD0AC-0279-48DC-ADFF-699FCFD81BF9
UNION OF BRUNEL STUDENTS ANNUAL REPORT AND ACCOUNTS FOR THE YEAR ENDED 31 JULY 2022
ADMINISTRATIVE INFORMATION
Charitable Status: The Union of Brunel Students is an incorporated charity established under the Education Act 1994. The Union is registered with the Charity Commission under the s.11 (9), Charities Act and is constituted as a Charitable Incorporated Organisation (CIO), Charity number 1173492.
Principal Address
Cleveland Road Uxbridge Middlesex UBS 3PH
Chief Executive
Craig Lithgow
Charity Trustees
2021/2022 Kulvant Singh (Vacated March 22) Connie Fernandes Archan Raval
President VP Student Activities Connie Fernandes VP College of Business, Archan Raval Arts and Social Sciences VP College of Health, Medicine and Life Sciences VP College of Design, Noah Yeates Engineering and Physical Sciences Student Trustee Mohammad Khalifa Student Trustee Jason Francis Student Trustee Ravina Jignesh Student Trustee Krison Kirit External Trustee Nathan Town send External Trustee Julie Atherton External Trustee Katie Ross External Trustee Peter Smallwood denotes full-time sabbatical officers
Wiktoria Swoboda (From Oct 21)
2022/2023
Archan Raval
Wiktoria Swoboda
Suraj Shaw
Mohammad Khalifa
Ravina Jignesh Krison Kirit Nathan Townsend Julie Atherton Peter Smallwood
Senior Management Team
Craig Lithgow Richard Parkin Andy Proudfoot Francesca Stirling Ruth Sharma
Chief Executive Director of Finance and Resources Head of Commercial Operations Head of Communications and Student Engagement Head of Advice and Student Representation
Auditors
Crowe Clark Whitehill LLP Statutory Auditor 49-51 Blagrave Street Reading Berkshire RG1 1PL
Bankers
HSBC PO Box 41 High Street Uxbridge UBS 1BY
Page 1
DocuSign Envelope ID: 839FD0AC-0279-48DC-ADFF-699FCFD81 BF9
UNION OF BRUNEL STUDENTS ANNUAL REPORT AND ACCOUNTS FOR THE YEAR ENDED 31 JULY 2022
Independent Auditor's Report to the Trustees of the Union of Brunel Students continued
In addition, we considered provisions of other laws and regulations that do not have a direct effect on the financial statements but compliance with which might be fundamental to the charitable company's ability to operate or to avoid a material penalty. We also considered the opportunities and incentives that may exist within the charitable company for fraud. The laws and regulations we considered in this context for the Union were Health and Safety and General Data Protection Regulations. Auditing standards limit the required audit procedures to identify non-compliance with these laws and regulations to enquiry of the Trustees and other management and inspection of regulatory and legal correspondence, if any.
Auditing standards limit the required audit procedures to identify non-compliance with these laws and regulations to enquiry of the Trustees and other management and inspection of regulatory and legal correspondence, if any
We identified the greatest risk of material impact on the financial statements from irregularities, including fraud, to be the override of controls by management and the recognition of certain income streams. Our audit procedures to respond to these risks included enquiries of management about their own identification and assessment of the risks of irregularities, sample testing on the posting of journals, sample testing on income recognised in the accounts, reviewing accounting estimates for biases and reviewing board meeting minutes for any issues we need to be aware of.
Owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements, even though we have properly planned and performed our audit in accordance with auditing standards. We are not responsible for preventing non compliance and cannot be expected to detect non-compliance with all laws and regulations. These inherent limitations are particularly significant in the case of misstatement resulting from fraud as this may involve sophisticated schemes designed to avoid detection, including deliberate failure to record transactions, collusion or the provision of intentional misrepresentations.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.orq.uk/auditorsresponsibilities. This description forms part of our auditor's report.
Use of our report
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. Our audit work has been undertaken so that we might state to the charity's Trustees those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity's Trustees as a body, for our audit work, for this report, or for the opinions we have formed.
Crowe U.K. LLP Statutory Auditor Reading Berkshire
Date: 12 December 2022
Page 12
| Notes | Unrestricted | Designated | Restricted | Total | Total | |
|---|---|---|---|---|---|---|
| Fund | Fund | Fund | 2022 | 2021 | ||
| Income | £ | £ | £ | £ | £ | |
| Donations: | ||||||
| - Grant income | 4 | 1,446,072 | - | 464,261 | 1,910,333 | 1,937,362 |
| Othertrading activities: | ||||||
| - Advertising & marketing | 101,443 | - | - | 101,443 | 59,321 | |
| Investment income | 248 | - | - | 248 | 82 | |
| Charitable activities forstudents: | ||||||
| - Bar & catering | 601,606 | - | - | 601,606 | 191,329 | |
| - Entertaining | 145,376 | - | - | 145,376 | 12,793 | |
| - Societies & clubs | - | - | 89,407 | 89,407 | 98,463 | |
| - Other | 700 | - | - | 700 | - | |
| Covid Job Retention Scheme | 114,726 | |||||
| Total income | 2,295,445 | - | 553,668 | 2,849,113 | 2,414,077 | |
| Expenditure | ||||||
| Raising Funds: | ||||||
| - Advertising and marketing | 32,941 | - | - | 32,941 | 9, 168 | |
| Charitable Activitiesforstudents: | ||||||
| - Advice, welfare & representation | 598,745 | 1,285 | 12,749 | 612,779 | 557,697 | |
| - Student activities | 348,902 | - | - | 348,902 | 399,059 | |
| - Bar & catering | 779,092 | - | - | 779,092 | 464,886 | |
| - Entertainment | 211,695 | - | - | 211,695 | 159,208 | |
| - Transport | 726 | - | - | 726 | - | |
| - Societies & clubs | 309,272 | - | 490,378 | 799,650 | 520,893 | |
| Total expenditure | 5 | 2,281,373 | 1,285 | 503,127 | 2,785,785 | 2,110,911 |
| Decrease in pension deficit | 542,490 | - | - | 542,490 | 190,785 | |
| Net income/(expenditure) | 556,562 | (1,285) | 50,541 | 605,818 | 493,951 | |
| Transfer between funds | 12 | 210,120 | - | (210,120) | - | - |
| Net incoming resources after | ||||||
| transfers | 766,682 | (1,285) | (159,579) | 605,818 | 493,951 | |
| Fund balances brought forward | (2,352,908) | 1,285 | 190,375 | (2, 161,248) | (2,655, 199) | |
| Fund balances carried forward | 12 | (1,586,226) | - | 30,796 | (1,555,430) | (2,161,248) |
| 2022 | 2021 | ||||
|---|---|---|---|---|---|
| £ | £ | £ | £ | ||
| Notes | |||||
| Fixed assets | |||||
| Tangible fixed assets | 8 | 98,248 | 55,264 | ||
| Current assets | |||||
| Stocks | 9 | 15,979 | 19,388 | ||
| Debtors | 10 | 72,480 | 39,653 | ||
| Cash at bank & in hand | 1005,973 | 976,337 | |||
| 1,094,432 | 1,035,378 | ||||
| Current liabilities | |||||
| Creditors: amounts due within one year | 11 | (170,334) | (131,622) | ||
| Net current assets | 924,098 | 903,756 | |||
| Net assets excluding pension liabilities | 1,022,346 | 959,020 | |||
| Pension scheme funding deficit | 16 | (2,577,776) | (3,120,268) | ||
| Total net liabilities | (1,555,430) | (2,161.248) | |||
| Representing Charitable Funds: | |||||
| Restricted income funds | |||||
| Students’ Societies & Club funds | 12 | 23,004 | 124,356 | ||
| Other restricted grants | 12 | 2,760 | 24,254 | ||
| Sports fund | 12 | - | 39,934 | ||
| Hardship fund | 12 | 5,032 | 1,831 | ||
| 30,796 | 190,375 | ||||
| Unrestricted income funds | |||||
| Free reserves (Undesignated) | 991,552 | 767,360 | |||
| Pension reserve | (2,577,778) | (3,120,268) | |||
| Special projects reserve | - | 1,285 | |||
| 12 | (1,586,226) | (2351623) | |||
| Total deficit | 13 | (1,555,430) | (2,161,248) |
| STATEMENT OF CASH | FLOWS | |||
|---|---|---|---|---|
| 2022 | 2021 | |||
| £ | £ | |||
| Notes | ||||
| Cash flows from operating activities: | ||||
| Net income/(expenditure) | 605,818 | 493,951 | ||
| Depreciation | 41,161 | 49,905 | ||
| Interest received | (248) | (82) | ||
| Decrease in stock | 3,409 | 7,785 | ||
| (Increase)/decrease in debtors | (32,827) | 35, 103 | ||
| Revaluation of pension deficit | (542,490) | (190,785) | ||
| Increase/(decrease) in creditors | 38,710 | 10,710 | ||
| Net cash generated by operating activities | 113,533 | 406,587 | ||
| Cash flows from investing activities | ||||
| Interest receivable | 248 | 82 | ||
| Purchase of tangible fixed assets | (84,145) | (31,928) | ||
| Net cash used in investing activities | (83,897) | (31,846) | ||
| Change in cash and cash equivalents in the year | 17 | 29,636 | 374,741 | |
| Cash and cash equivalents at the beginning ofthe year | 976,337 | 601,596 | ||
| Total cash and cash equivalents atthe end of the year | 18 | £ 1,005,973 | £ | 976,337 |
| LULL | ||||
| £ | £ | |||
| Cash at bank and in hand | £ 1,005,973 | £ | 976,337 |
| 2022 | 2021 | |
|---|---|---|
| £ | £ | |
| Block grant | 1,146,072 | 1,137,375 |
| Grant for rent in kind | 300,000 | 300,000 |
| Free sport grant | 185,000 | 205,000 |
| Other restricted grants | 50,691 | 49,586 |
| Hardship fund | 15,950 | 74,251 |
| SUSS Pension deficit contributions & PFF Levy | 210,120 | 168,300 |
| External grant | 2,500 | 2.850 |
| 1,910,333 | f937,362 |
| Cost of | Staff | Other | Total | |||
|---|---|---|---|---|---|---|
| sales | costs | Rent | costs | Total | 2021 | |
| £ | £ | £ | £ | £ | £ | |
| Activities for generating | ||||||
| funds | ||||||
| Advertising & marketing | - | 6,685 | 3,547 | 22,709 | 32,941 | 9,168 |
| Charitable activities | ||||||
| Advice, welfare & | - | 464,151 | 65,990 | 82,638 | 612,779 | 557697 |
| representation | ||||||
| Student activities | - | 222,260 | 37,573 | 89,069 | 348,902 | 399,059 |
| Bars & catering | 216,111 | 230,719 | 83,900 | 248,362 | 779,092 | 464,886 |
| Entertainment | - | 103,592 | 22,797 | 85,306 | 211,695 | 159,208 |
| Transport | - | 594 | 78 | 54 | 726 | |
| Societies & clubs | - | 216,439 | 86,114 | 497,097 | 799,650 | 520,893 |
| Total costs | 216,111 | 1,244,439 | 300,000 | 1,025,235 | 2,785,785 | 2,110,911 |
| NOTES TO THE AC | NOTES TO THE AC | COUNTS | COUNTS | ||||||
|---|---|---|---|---|---|---|---|---|---|
| 5(a) | Total expenditure | - charitable and other activity | costs (continued) | ||||||
| 2021 | Cost of | Staff | Other | Total | |||||
| sales | costs | Rent | costs | Total | 2020 | ||||
| £ | £ | £ | £ | £ | £ | ||||
| Activities forgenerating | |||||||||
| funds | |||||||||
| Advertising & marketing | - | 2,647 | 1,336 | 5,185 | 9,168 | 88,618 | |||
| Charitable activities | |||||||||
| Advice, welfare & | - | 328,529 | 81,285 | 147883 | 557,697 | 187,322 | |||
| representation | |||||||||
| Student activities | - | 268,821 | 58,163 | 72,075 | 399,059 | 371,055 | |||
| Bars & catering | 40,341 | 274,728 | 67,757 | 82,060 | 464,886 | 723,786 | |||
| Entertainment | - | 86,895 | 23,205 | 49,108 | 159,208 | 302,821 | |||
| Transport | - | - | - | 70,385 | |||||
| Societies & clubs | - | 222,476 | 68,254 | 230,163 | 520,893 | 944,759 | |||
| Total costs | 40341 | 1184,096 | 300,000 | 586474 | 2,110,911 | 2,688,745 | |||
| Affiliation fees are: | |||||||||
| 2022 | 2021 | ||||||||
| £ | £ | ||||||||
| BUCS | 33,165 | 10,650 | |||||||
| NUS | 8,049 | 28,178 | |||||||
| 41,214 | 38,828 | ||||||||
| 5(b) | Central overhead | costs included in Note 5(a) | |||||||
| 2022 | Staff | Rent | Other | Total | |||||
| Usage | £ | £ | £ | £ | |||||
| Activities for generating funds | |||||||||
| Advertising & marketing | 1.2% | 6,685 | 3,547 | 2,508 | 12,740 | ||||
| Charitable activities | |||||||||
| Advice, welfare & | representation | 22.0% | 124,353 | 65,990 | 46,655 | 236,998 | |||
| Student Activities | 12.5% | 70,803 | 37,573 | 26,564 | 134,940 | ||||
| Bar& catering | 27.8% | 158,103 | 83,900 | 59,318 | 301,321 | ||||
| Entertainments | 7.6% | 42,960 | 22,797 | 16,118 | 81,875 | ||||
| Transport | 0.03% | 149 | 79 | 55 | 283 | ||||
| Societies & Clubs | 28.7% | 162,275 | 86,114 | 60,883 | 309,272 | ||||
| Totals | 100% | 565,328 | 300000 | ,jjQJ, | 1,077,429 |
| (b) | Central overhead costs included in | Note 5(a) (c | ontinued) | |||
|---|---|---|---|---|---|---|
| 2021 | Staff | Rent | Other | Total | ||
| Usage | £ | £ | £ | £ | ||
| Activities forgenerating funds | ||||||
| Advertising & marketing | 0.4% | 2,647 | 1,336 | 741 | 4,724 | |
| Charitable activities | ||||||
| Advice, welfare & representation | 27.1% | 161,027 | 81,285 | 45,045 | 287,357 | |
| Student Activities | 19.4% | 115,223 | 58,163 | 32,231 | 205,617 | |
| Bar& catering | 22.6% | 134,229 | 67,757 | 37,548 | 239,534 | |
| Entertainments | 7.7% | 45,969 | 23,205 | 12,859 | 82,033 | |
| Transport | 0.0% | - | - | - | - | |
| Societies & Clubs | 22.8% | 135,212 | 68,254 | 37,823 | 241,289 | |
| Totals | 100% | 594,307 | QQ.Q0 | 166,247 | 1,060,554 | |
| Staff costs | ||||||
| 2022 | 2021 | |||||
| £ | £ | |||||
| Wages and salaries | 915,085 | 902,257 | ||||
| Social security | 109,945 | 73, 149 | ||||
| Pension costs | 219,409 | 208,690 | ||||
| 1,244,439 | 1,184,096 |
| Total | |
|---|---|
| remuneration | |
| £ | |
| President | 12,110 |
| VP College of Health, Medicine and Life Sciences | 20,621 |
| VP College of Business, Arts and Social Sciences | 24,593 |
| VP College of Design, Engineering and Physical Sciences | 24,023 |
| VP Student Activities | 24,203 |
| Tangible fixed assets | |||
|---|---|---|---|
| Fixtures & | IT and Hi-tec | ||
| fittings | equipment | Total | |
| £ | £ | £ | |
| COST | |||
| At 1 August2021 | 237,067 | 115,927 | 352,994 |
| Additions | 61208 | 22937 | 84,145 |
| At 31 July 2022 | 298,275 | 138,864 | 437,139 |
| DEPRECIATION | |||
| At 1 August2021 | 196,633 | 101,097 | 297,730 |
| Chargefortheyear | 26,126 | 15,035 | 41,161 |
| At31 July2022 | 222,759 | 116,132 | 338,891 |
| NET BOOK VALUE | |||
| At 31 July 2022 | 75.516 | 22,732 | 98,248 |
| At31 July 2021 | 40,434 | 14,830 | 55,264 |
| NOTES TO THE ACCOUNTS | |||
|---|---|---|---|
| 9 | Stock | 2022 | 2021 |
| £ | £ | ||
| Bar and shop stock | 15,979 | 19,388 | |
| 2022 | 2021 | ||
| 10 | Debtors | £ | £ |
| Trade debtors | 38,083 | 6,353 | |
| Other debtors | 5,369 | 5,424 | |
| VAT debtor | 794 | 2,218 | |
| Prepayments & accrued income | 28,234 | 25,658 | |
| 72,480 | 39.653 | ||
| 11 | Creditors: | 2022 | 2021 |
| amounts due within one year | £ | £ | |
| Trade creditors | 47,505 | 21,537 | |
| Social security & othertaxes | 22,029 | 20,306 | |
| Other creditors | 3,546 | 3,267 | |
| Accruals & deferred income | 97,254 | 86,514 | |
| 131,622 | |||
| Deferred income | 2022 | 2021 | |
| £ | £ | ||
| Balance as at 1St August 2021 | 2,150 | 842 | |
| Amounts released to income in the year | (2,150) | (842) | |
| Amounts deferred in the year | 2,600 | 2, 150 | |
| Balance at 31 July 2022 | 2,600 | 2, 150 |
| Asat3l | Asat3l | ||||
|---|---|---|---|---|---|
| July | Incoming | Resources | July | ||
| 2021 | resources | expended | Transfers | 2022 | |
| £ | £ | £ | £ | £ | |
| Unrestricted Funds | |||||
| Free reserves | |||||
| (Undesignated) | 767360 | 2,295,445 | (2,281,373) | 210,120 | 991,552 |
| Pension Reserve | (3,120,268) | 542,490 | - | - | (2,577,778) |
| Special projects reserve | 1,285 | (1,285) | |||
| (2,351,623) | 2,837,935 | (2,282658) | 210,120 | (1,586,226) | |
| Restricted Funds | |||||
| Students’ Societies & | |||||
| Clubs Funds | 124,356 | 89,407 | (190,759) | - | 23,004 |
| Hardship Fund | 1,831 | 15,950 | (12,749) | - | 5,032 |
| SUSS Pension deficit | |||||
| contribution | - | 210,120 | - | (210,120) | |
| Other restricted grants | 24,254 | 53,191 | (74,685) | - | 2,760 |
| Sports Fund | 39.934 | 185,000 | (224,934) | - | - |
| 190,375 | 553,668 | (503,127) | (210,120) | 30,796 | |
| Total Funds | (2,161,248) | 3,391,603 | (2.785.785) | - | (1.555,430) |
| 12 | Fund Analysis (continued) | ||||||||
|---|---|---|---|---|---|---|---|---|---|
| 2021 | |||||||||
| Asat3l | Asat3l | ||||||||
| July | Incoming | Resources | July | ||||||
| 2020 | resources | expended | Transfers | 2021 | |||||
| £ | £ | £ | £ | £ | |||||
| Unrestricted Funds | |||||||||
| Free reserves | |||||||||
| (Undesignated) | 539,518 | 1,815,627 | (1,756,085) | 168300 | 767,360 | ||||
| Pension Reserve | (3,311,053) | 190,785 | - | - | (3,120,268) | ||||
| Specialprojects reserve | 1,285 | - | 1,285 | ||||||
| (2,770,250) | 2,006,412 | (1,756,085) | 168,300 | (2,351,623) | |||||
| RestrictedFunds | |||||||||
| Students’ Societies & | |||||||||
| Clubs Funds | 112,249 | 98,463 | (86,356) | - | 124,356 | ||||
| Hardship Fund | 2,802 | 74,251 | (75,222) | - | 1,831 | ||||
| SUSS Pension deficit | |||||||||
| contribution | - | 168,300 | - | (168,300) | |||||
| Otherrestricted grants | - | 52,436 | (28,182) | - | 24,254 | ||||
| Sports Fund | 205,000 | (165,066) | 39,934 | ||||||
| 115,051 | 598,450 | (354,826) | (168,300) | 190,375 | |||||
| Total Funds | _J04.86? | J2jjQ,11 | fj4i28 | ||||||
| 13 | Analysis of net deficit between | funds | |||||||
| Unrestricted | Restricted | ||||||||
| Funds | Income | Funds | Total | ||||||
| £ | £ | £ | |||||||
| At 31 July 2022 | |||||||||
| Fixed Assets | 98,248 | - | 98,248 | ||||||
| Current assets | 1,023,126 | 71,306 | 1,094,432 | ||||||
| Current liabilities | (170,332) | - | (170,332) | ||||||
| Pensions | (2,577,778) | (2,577,778) | |||||||
| (1626,736) | 71.306 | (1,55549I | |||||||
| Unrestricted | Restricted | ||||||||
| Funds | Income Funds | Total | |||||||
| £ | £ | £ | |||||||
| At3lJuIy 2021 | 55,264 | - | 55,264 | ||||||
| FixedAssets | 845,003 | 190,375 | 1,035,378 | ||||||
| Currentassets | (131,622) | - | (131,622) | ||||||
| Currentliabilities Pensions |
(3, 120,268) | (3,12O,2j | |||||||
| (2.351,623) | 190.375 | (jj,) | |||||||
| Page 25 |
| ECONCILIATION OF NET CASH FLOW TO MO | VEMENT IN | NET FUNDS | ||
|---|---|---|---|---|
| 2022 | 2021 | |||
| £ | £ | |||
| Increase in cash and net funds in the year | 29,636 | 374,741 | ||
| Net funds at 1 August | 976,337 | 601,596 | ||
| NET FUNDS AT 31 JULY | £ | 1,005,973 | £ | 976,337 |
| Net | funds as | Cash | Net funds as | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| At | I August | Change | at 31 July | |||||||||
| 2021 | 2022 | |||||||||||
| £ | £ | £ | ||||||||||
| Cash | at | bank | and | in | hand | £ | 976,337 | £ | 29,636 | £ | 1,005,973 |
| Unrestricted | Designated | Restricted | Total | |
|---|---|---|---|---|
| Fund | Fund | Fund | 2021 | |
| Income | £ | £ | £ | £ |
| Donations: | ||||
| - Grant income | l,437375 | - | 499,987 | 1,937362 |
| Othertrading activities: | ||||
| - Advertising & marketing | 59,321 | - | - | 59,321 |
| Investment income | 82 | - | - | 82 |
| Charitable activities forstudents: | ||||
| - Bar & catering | 191,329 | 191,329 | ||
| - Entertaining | 12,793 | 12,793 | ||
| - Societies & clubs | 98,463 | 98,463 | ||
| - Other | I | |||
| CovidJob Retention Scheme | 114,726 | - | - | 114,726 |
| Total income | 1,815,627 | - | 598,450 | 2,414,077 |
| Expenditure | ||||
| Raising Funds: | ||||
| - Advertising and marketing | 9,168 | - | - | 9,168 |
| Charitable Activities forstudents: | ||||
| - Advice, welfare & representation | 482,475 | - | 75222 | 557697 |
| - Student activities | 399,059 | - | - | 399,059 |
| - Bar & catering | 464,886 | - | - | 464,886 |
| - Entertainment | 159,208 | - | - | 159,208 |
| - Transport | ||||
| - Societies & clubs | 241,289 | - | 279,604 | 520,893 |
| Total expenditure | 1,756,085 | - | 354,826 | 2,110,911 |
| Decrease in pension deficit | 190,785 | - | - | 190,785 |
| Net income/(expenditure) | 250,327 | - | 243,624 | 493,951 |
| Transferbetween funds | 168,300 | - | (168,300) | - |
| Net incoming resources after | ||||
| transfers | 418,627 | - | 75,324 | 493,951 |
| Fundbalances brought forward | (2,771,535) | 1,285 | 115,051 | (2,655,199) |
| Fundbalances carried forward | (2,352,908) | 1,285 | 190,375 | (2,161,248) |