Docusign En¥ÈlopÈ ID". C6BOFAC6-FF38-4068-9DDg-89609C068074
CHARITY NUMBER: 1173492
UNION OF BRUNEL STUDENTS
TRUSTEES, REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

Docusign En¥ÈlopÈ ID". C6BOFAC6-FF38-4068-9DDg-89609C068074
UNION OF BRUNEL STUDENTS
CONTENTS
PAGE
Administrative infomalion
Report of the Trustees
Auditors, Report
Statement of Financial Activiti6s
13
Balance Sheet
14
stalemenl of Cash Flows
15
Notes to the Financial Statements
16-29

Docusign En¥ÈlopÈ ID". C6BOFAC6-FF38-4068-9DDg-89609C068074
UNION OF BRUNEL STUDENTS
ANNUAL REPORT AND ACCOUNTS
FOR THE YEAR ENDED 31 JULY 2023
ADMINISTRATIVE INFORMATION
Administrative In*ormalion
Charitable Status: The Union of Brunel Students is Én Ineorporaled charity established under the Education
Act 1994. The Union is registered with the Charity Commission under the s.11 (91, Charities Act and is
consliluted as a Charitable Incorporated Org3nisalion ICIOI,Charily number 1173492.
Principal Address
Cleveland Road
Uxbridge
Middleséx
UB8 3PH
Chief Executive
Craig LilhgDw
Charity Trustees
202212023
Archan R3val
202312024
Ana Monica Pereira
VP College of Business,
Arts and Social Sciences.
VP College of Health,
Life Sciences.
VP College of Design,
Engineering and Physi￿[ Sciences.
Student Trustee
Student Trustee
Sludenl Trustee
Exlemal Trustee
Exlernal Trustee
External Trustee
°denotes ftjll-limè sabbatical officers
Wiktoria Swoboda
Naveed Sabugar Medicine and
Suraj Shaw
Suraj Shaw
Mohammad Khalifa
Ravina Jignesh
Krison Kirit
Nathan Townsend
Julie Alherton
Peter Smallwo(xl
Fabyeon Burgessyearwood
Ravina Jignésh
Florence Goodyale
Nathan Townsend
Julie Alherton
Peter Smallwo(
Senior Management Team
Craig Lilhgow
Francesca Slirling
Ruth Sharma
Chief Executive
Head of Communications and Student Engagement
Head of Advice and Sludenl Representation
Auditors
Crowe U.K. LLP
Slalutory Auditor
49-51 Blagrave Street
Reading
Berkshire
RG1 1PL
Bankers
HSBC
PO Box41
High Street
Uxbridge
UB8 1BY
Pag& 1

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UNION OF BRUNEL STUDENTS
ANNUAL REPORT AND ACCOUNTS
FOR THE YEAR ENDED 31 JULY 2023
Solicltors
Blanéy 8nd Blandy
1 Friar Street,
Reading
Berkshire RG1 1 DA
Soli¢itors Ilicencingl
Popplelon Allen
37 Sloney Street
The Lace M8rkel
Nottingham
NG1 1LS
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Docusign En¥ÈlopÈ ID". C6BOFAC6-FF38-4068-9DDg-89609C068074
UNION OF BRUNEL STUDENTS
ANNUAL REPORT AND ACCOUNTS
FOR THE YEAR ENDED 31 JULY 2023
The Charity Trustees present their annual report for the year ended 31 July 2023, which includes the
administrative information sel out on page 1, logetherwilh the audited financial statements for that year.
Structure, Governance and Management
The Union is slructLJred by ils Constitution & Governing Bye-Laws. The Union of Brunel Students is a
democratic student led organisalion which exists lo represent ils members lo the University, the media
and lo other external organisations and bodies such as the National Ullion of Students. In addition, we
provide key support, various welfare sérvices and a variety of sporting, curtural and development
opportunities for all our members. Student democracy lies al the heart of all that we do but alongside
this. we are a'nol for profil, organisation with all SLirpluses generated fr(Jm variou5 commercial activities
committed and invested into providing and improving our services lo our members. We are a registered
charity primarily fvnded by an anrkual block grant lo help us ensure that we can work logelherto provide
a diverse and exciting array of support, seN1￿$ and development opportunities for the mutual benefit
of our membership.
Thè Présidént snd four Vice-Presidents Isludenl officers) are annually elected and mandated to create
and set union policy whilst also being stralegically responsible for the direction and lead of all union
aclivily. The Trustee Board, which is currently made up of the President. four Vice-Presidenls, three
ele¢led Student Tnjslees and four External Trustees have Tesponsibililies for the financial and legal
compliance ofthe Union, The various members of staff employed by the union are so employed lo help.
support and advise the officers so that they can fulfil their specific dultes within their various
role8lportfolios.
Charity law requires the Trustee Board to prepare financial slalernents for each financial year which
give a Iwe and fair view of the stale of affairs of the Union and of the surplus Dr deficit for that year. In
preparing the financial slalemenls the Trustee Board is required lo sele¢l suitable accounting policies
and then apply them on a consistent basis, making judgements and @slimales that are prudent and
reasonable. The TrLJStee Board musl also prepare the financial slalemtnls on the going concern basis
unless il is inappropriate lo presume th81 the Union will continue to operate.
The Trustee Board is responsible for keeping accounting records which disclose with reasonable
accuracy at any limethe financial position of the Union.11 is also responsible for safeguarding the assets
of thé union and hence for taking reasonable steps for the prevention and detection of fiaud and other
irregularilie8.
Key Management remuneration
The remuneration of key management personnel is sel by the Board. with the policy objective of
ensuring that they arè provided with appropriate incentives lo encourage enhanced performance and
are, in a fair and responsible manner, reviarded for their individual contributions lo the Union's success.
The appropriateness and relevance ol such remuneration reviewed annually, including reference to
comparisons with other Unions to ensure that the Union remains sensitive lo the broader issues of pay
and employment conditions elsewhem.
Relationship with Brunel University
The relationship between the University and IhÈ Union is recorded in the regulations of the University
and detailed in the Union conslilulion., both approved by both organisalions. This relationship i816gally
complied by a Memorandum of Understanding, where both parts agree on Ihg terms of the partnership.
The Union receives a block grant from the University and part-oGGupies a building owned by the
University. Various Union Officers holé seats on several University governing commillees, including
University Council and Senate, thus ensuring the voices of students are represented at the lop-level
meetings. There is no reason to believe that sny sort of suppr)rt will cease lo exist from the UnThiersity
for the foreseeable future not only due lo the imposed duty as outlined in the Education Act of 1994 on
Universities safeguarding SILJdenl Unions, bul also due lo the healthy working relationship which exists
and constantly is being developed bebNeen the University and the Union.
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UNION OF BRUNEL STUDENTS
ANNUAL REPORT AND ACCOUNTS
FOR THE YEAR ENDED 31 JULY 2023
Risk Management
The Trustees have undertaken lo examine the major risks that the Union faces. That review is an integral
part of the annual planning cycle. The Union has, and continues lo develop. systems to monitor and control
these risks in order to mitigate any impact that they have on the Union and its operations.
The principal risks and uncertainties cur￿n11Y f8¢ing the Union are considered to bè..
Risk of cuts lo Universty funding of the Union, caused by either perception of value of the Union or
the universities own financial sustainability.
The financial health of the unive￿itY is itself dependent on government funding, which in turn is
sus¢eplible to factors beyond the control of the Union, such as academic offering, NSS survey
resu115, affordabilrty driven by fees level, numbers of students and other demographic faclo¥s.
Significantly increasing pension liabilities that the Union has no control over.
Rèputational damage in the unlikÈly event of a high-profile activity by a student, officer or Iruslee.
Failure to be seen by students or the university as the voice of students
Supply chgin concerns following signifi'cant and sustained high levels of inflation through 2022.
Our plans and strategies lor managing risk include maintaining effective internal Gonlrols, risk registers,
incidenl-reporting ar￿ monitoring systems and insurancè cover whe¥ever appropriate.
Method of appolntment of TnJsle8S
The governance and management of the Union is the responsibilty of the Trustees who are elected or
appointed under the tèmis of the constitLrtiDn. Student Offi¢ers are elected annually for a one-year térm, and
able to sènje a second term if re-elected. They provide invaluable insight from their own experiences as a
stLJdenl and their daily interactions with the management of the union 8nd the university. Independent
Trustees apply and are appointed by the Sludenl Assembly ftsllowing recommendation from the appointment
Gommittee, for a term of up to three years and Can serve a maximum oflwo terms. Our Independent Trustees
provide wider skillsels and experience from outside the Sludenl UnK)n. Student Trustees apply and are
approved by the appointment commitlee to be put fotward for election by the memk)ership. They 8re elected
for a period of up to two years and Gan serve a second term if re- elected. The sludenl trustees provide
valuable experience and insight as curtent beneficiaries of union aclivilies.
Upon appointment all Trustees are briefed on theIrl￿al obligations and other Trustee responsibilities. A11
Trustees receive an induction information pack which includes their role responsibilities, their legal
responsibilities, historical and current information about The Student Union, information on its Strategic Plan
and how to deal wrth potential conflicts of interest.
Kgy Challenges and activity in 2022-23
The Universrty and the Union faced real challenges as we emerged from the Covid Pandemic, with teaching
and campus living chan9ed for the long term. We have seen signrficant reductions in student footfall and
spènd within the commercial business and alongside the backdrop of inflation levebs not seen in generations,
our fin¥n¢ial outlurn has fallen short of our budgetary expectations. This year for the first-lime overseas
sludenl numbers ex￿ed￿d those of home students and the steady growth of Post Graduate students
continues to change the student demogr8phic.
V￿e have continued in planning and developing how we represent and engage with this ch8nging
demographic and we agreed the introduction of a new part lime volunteer representation role specifically for
Post Graduate students. We have also spent thè year planning the introduction of a new digital @ngagerllenl
plafform for acadewnic representation at Course level. This platfarm has been agreed to launch in September
23 with level 1 students as a trial, with the aspiration that If successful we can roll out thr￿jgh the rest of the
student population through 2024.
Our advice service ¢onlinued lo see great8r demand from students in need with, academic issues dominating
and a signifioanl increase in support lo Post Graduate students whereas hislorically undergraduate students
were by far the majority of students we engaged directly with from the service. We continued lo deliver small
scale emergency hardship grants lo complement the university Hardship seNice and have agreed with the
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Docusign En¥ÈlopÈ ID". C6BOFAC6-FF38-4068-9DDg-89609C068074
UNION OF BRUNEL STUDENTS
ANNUAL REPORT AND ACCOUNTS
FOR THE YEAR ENDED 31 JULY 2023
universty a fast track access lo their service for those most in need, 88 a response lo students being hit
disproportionately harder during this period of high inflation.
Our campaign to tackle sexual violence, parti¢ularly against women continued to gather pace, with Sexual
Violence liaison officers being appointed within the university slruclure. We also encouraged for the first
time, consent training to be delivered as a mandatory part of every student's induction.
Our Period poverty campaign also look a step fO￿ard from free products being supplied wllhin the Union
bathrooms. lo a campus wide provision within key b21hrooms across the entire sile.
Our sport has conlinLJed lo grow from being decimated through 2020-21 with a further increase in aGlive
memberships of 21Qkn lo 2137 members. Our aspiration is this year to exceed pre-pandemi¢ levels for the
ftrsl lirne. We have 8150 introduced alongside the university, the Brunel hAoves App, which rewards people
being active lo promote a more active and healthy campus. Brunel Moves has seen more than 2000 people
sign up with 72°A ofthem not active in sport in any other way. We hope lo further develop the rewards and
recognition through 2023,
Our one Brunel cultural celebration programme continued to develop with more events thsn in the previous
year. Our feedback suggested that we were also hilling our key project largels of the events providing a
positive experien¢e, those in attendance feel like the event improved their cultural awareness and enhancing
the Unions reputation arnongsl inlern&lion8181udenls.
In December we saw the departuie of one of our longer serving senior managers, and this gave us the
opportunity lo reconsider our structure and processes lo tackle modernising our infraslruclure and tackling
our representation and engagement challenges, parti¢ulgrly wilhill our commercial arena. We employed
swices of finance, wmmercial and union sp@cifiG consultancies wrth the result in a restructure lo create a
nèw Chièf of Operstions overseeing finants, commercial and compliance. To make this change there
needed to be resltucluring within the commercial and linance teams, which should be concluded by
Christmas 2023.
We were assessed for the first limÉ under the NLIS Quality Assurance Accredilalion and are delighted lo
have aGhieved an accredilalion standard of 'Good' in 10 of the 12 categories and'very gcx)d' in thè remaining
2. We will be reassessed in October 2D24 and have ambition to be accredited as Very Good in more than
50°h of the categories available.
STRATEGIC REPORT
Our Purposo
Every student Thrives al erunel
Our Mission
To positively impact OUT membeTS' university experience through..
1. High qualty, vslue for money services
2. Championing and challenging the student voice
3. Supporting and growing Inclusive and welcoming communities
Ourvalues
Driven by you
Open lo all
Passionatety positive
Integrity
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UNION OF BRUNEL STUDENTS
ANNUAL REPORT AND ACCOUNTS
FOR THE YEAR ENDED 31 JULY 2023
2023-24 operation Priorities
student Support and representation
Develop a welcoming and ac￿sIble reception for our rnain office environment
Develop our data capturing provision to better access students, needs , traGk engagement and
seek member feedback
Priorilise lime lo lully embed and engagè wlLh our new Digital platform for course reps
developing demonstrable change and impact
Initrate and test recommendations from our democracy review and develop comprehensiv8
future thange recommendations to be agreed this year,
Support and devèlop our officers, campaigns portfolio helping maximise impact and reach.
Work with the Student activities team to ensure the new role of Community Living Officer is
properfy supported lo deliver success arid effectively engage across its wide and varied portfolio.
Absorb the work Advent Advocacy has been delivering OT) our behalf into the department
worf(load now we have a full, stable, experienced and highly funGtioning departmental team.
Culture and attitude
Demonstrate our valué of Passionately Positive in all our interactions by empowering 2nd
supporting staff and elected represenlalives to have a can- do attitude lo all we do, to seek out
alternatives and to Overcome or side slep barriers, and lo work on a¢tivilies. inleraclions and
celebrations that make the Union a fun and exciting place for staff and students alike
Ensure our value of Open to All is clearfy demonstrated in our planning and delivery of all of our
activitiès, including an ED&1 Accessibilty assessment for all m8jor events
To rtrengage wfch our Environmentgl policy, engaging students and staff alike to ensure our
sustainability message is embedded and delivered, 8nd we are in a position to consider applying
for green impact acc￿dr(all0n.
Communications and Marketing
Investigate and develop a model that enables us to segment our membèrs along activities and
interests not just ethnicity or course, and encourages targeted langU￿e and information
To build a structured and documented service ￿llaboratIOn with the university communications
departments, enabling better reach for of our marketing initiatives when relevant and
appropriate,
To support the commercial business by ensuring analytics are uséd to maximise and tsrget
advertising carnpaigns, with events live on our website and social media a minimum of three
weeks in advance.
Do develop with the new Head of Privacy at the University, a comprehensive, robust and
valuable single data sharing agreement that is fil for purpose all of our departments neèds and
uses. We will ensure we have all the data on our members we need, rt Is safe, secure,
monitored and used appropriately and delivers against the universty expectations as well as
ours.
Commercial Operations and Events
Develop an abundance of opportunities for members and elected representatives to help
influence and shape the a¢tiv&ties and offer wé present, with the aim of our club to deliver on
average 3 profitable sessions par week.
Improve the reFx)rting of comrnercial parformanoe to enable managers to make timely, relevanl
and valuable intetvenlions lo keep the business thriving, welcoming and 1 si choice lo the
membership and on budget.
Retum 8 commercial operating surplus to the organisalion in year in excess of £200,000
To generate venue specifiG menu, serviee standard, marketing strategy and foottall initiatives
to deliver catering sales in Locos in excess of £100.000 by June 2024
Deliver cost effective on ¢arMpus events with clear measurable goals and outcomes,
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UNION OF BRUNEL STUDENTS
ANNUAL REPORT AND ACCOUNTS
FOR THE YEAR ENDED 31 JULY 2023
Student activities
Work with the officers to deliver a raft of clear inclusion campaigns in sport clubs lo widen their
engagement footprint and increase heamh and wellbeing activity throughout all campus
communities
Redefine the offer in Active@brunel lo include experiences and adventure. 8nd introduce
nominal single event fees lo introduce members and avoid the need for membership payments
before engagement.
Introduce and monitor new systems lo streamline transport efficiencies. student expense
reimbursement and acwmmodation booking, meeting the members nèeds and expectations
and proleGling the business form waste.
Develop the Brunel moves concept, helping Shape incentives and rewards lo be more
representattve of the target audien¢e.
lrnprove engagement in our celebratory events by hosting on campu8 and minimising
ovèrheads, and lickel price barriers.
Continue development of the one Brunel concept, with spechlic focus on delivering al least 2
core events focused on curr@ntly underrepresented cultures.
Increase engagement slalislics. Freshers fair- 4250, Team 8runel- 2700, gocielies 4500,
Brunel moves- 3000 new sign ups.
Back of house and organisational infrastructure
Write and publish a clear 3nd accessible ED&1 policy identifying howwe recognise, support and
encourage diversity and inclusion in all of our aclivilies.
Publish a peoFile plan that identifies the support. development, engagement and feedback
opportunities all staff have, with particular focus on developing our student sl8ff team
experience to feel as inclusive £nd valuable as OLsr career team expertence.
Implement a slraighl forward and safe poI￿Y 8nd d¢xument contrd process lo ensure
compliance, accuracy ?nd transparency.
Develop our skills and qualrfieations within the finance team lo match their experience, and
slruGture workload lo better support a part lime or Contracted Heacl of function.
To develop detailed, accurate, timely and inforrnative management information relevant lo key
stakeholder needs.
Financial Review
The Union's gross In¢ome from all sources thi5 year lolalled £3,075,23512022'. £2,849,113) the increase
being predominantly Irom grant income. Total expenéilure was £3.219,13612022". £2,785,785) back in
line with a full program of unioll activity and signilicanl inflationary pressures on costs. Ignoring the
movement on the pension deficit contributions creditor. a defictt of £143,901 12022.. £63,328 surplus)
was achieved. In 2023 the pension deficit contributions Creditor Llecre88ed by £331,200, resulling in a
surplus for the year of £187,299. In 2022 there had been a decrease in the pension deficit contributions
creditor of £542,490 resulting in an overall surplus of £605,818.
The Union has continued to benefit from the recognition and support of Brunel University ￿th an annual
block grant of £1,295,970 plus further grants as disclosed in note 4.
Reserves level and policy
We have reviewed the Union's resewes requirements. Excluding the pension deficit, free reserves stood
al £775,202 12022.. £893,304) al the year•end. This position is aft&r deducting from total unrestricted
funds {ex¢luding the pension scheme liability) of £845,542 the amount of £70.34Q invested in our
&xisling tangible fixed assets.
The Union is currently affiliated lo many organisalions, OUT large51 sirTrgle subscription cost amounted lo
£32,940 12021.. £33,165 lo the NUSI 8nd no donations were made during the year lo any external
inslilulions out of the Union's own resources.
The Risk committee conducted a detailed review in 2023 of the free reserves requirement and
concluded that the 2 months op8rating costs {circa £500.0001 is a sufficient amount lo set aside to cope
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UNION OF BRUNEL STUDENTS
ANNUAL REPORT AND ACCOUNTS
FOR THE YEAR ENDED 31 JULY 2023
with any Unexpect￿ downturn in funding or additional calls upon cash resources wiihoul immédiately
curtailing existing activities. Current total fund5 of the Union sland at negative £1,368,131. This is
comprised of neg*ivè £1,401,136 unrestricted funds and £32,905 in restricted funds. As per the
Trustee's policy, the Union ¢onsiders 118 reserves position against'cash in hand, balance Ibank & cash
balances minus current liabilities), and this slood al £665,323 al the year-end. In respect of any surplus
or deficrfc recognised in relation to the Union's share of thè SUSS Pension Scheme, this would generally
result in a ¢8sh flow effeGI for the Union in the form of an increase or decrease in employer's pensio
contributions over a number of years. The deficit of £2,246,578 recognised in this year's accounts does
not represent an immediately realisable liability that requires payment bLrt will be funded over 13 years
from the Union's lulure incomès.
Custodlan Activitie$: Clubs, and Societies, Funds and the annual RAG
The Union acts as custodian for fLtnds raised by the students. many Clubs & S￿letIes themselves,
amounting to £nil12022." £23,004) at the year-end, in addition lo the granl-SUPPOrt fun(Ss it disburses to
them as shown in the acGounls. The Union is also Gustodian of the annual RAG proceeds from
fundraising events organised by the 51udenls under the Union's auspices for distribution to the intended
Charities. Funds raised bythis year's RAG amountin910 £15,15512022.. £5,027) less costs of£6512022'.
£0) were added to the undislributed balance of £3,563 12022.. £1,344) from the previous year. out of
which £12,697 {2022". £2,808) was distributed arnong the charities nominated by the respective
fundraising societies, leaving a balance of £5,95612022'. £3,563} In hand for next year's RAG. No funds
have subsequently been donal¢d after the year end lo charib"es. The rèmaining cash funds are held by
the Union.
Futurè Funding
The Charity Twstees Gonlimi that the union has SLrfh'ciènt funds lo meet all ils obligations. The core
Block Grant for 2023124 has been confirmed at £1,242,862 plus a further £224,656 in respect of the
SUSS pension scheme deficit payments and the associated PFF Levy. A restricted grant of £215,000
has been agreed to facilitate f￿e sport club memberships and free AGlive@Brunel fitness and
introductory sports sessions for stsff and students on campu5. Additionally, catering compensation of
£113,520 and other smaller grants of £99,675 have been agreed with the University.
TRUSTEES, RESPONSIBILITIES
The Trustees are rèsponsible for preparing the TrLJStees' Annual Report and the financial stslemenls in
accordance with applicable law and United Kingdom General￿ Accepted Accounting Practice (Uniled
KingdorN Accounting Standards).
The law 8pp5icable lo Gharities in England and Wales, requires the Trustees to prepa￿ financial
statements for each financial year which give a true 8nd fair view of the state of affairs of the charty and
of the incoming rèsources and application of resources of the charity for that period. In preparing these
financial ststements, the Trustees are required to.
select suitsble accounting policies and then apply them consistently,
observè the methods and principles in tho Charities SORP.,
make judgments and aGcounting estimates that are reasonable and prudent",
slate whether applicable accounting standards have been followed, subject lo any material
departures dis¢losed and explained In thè financial statements..
prepare the financial statements ON the going concern basis unless it is inappropriate to
presume that the charty wll continue in business.
The Trustees are responsiblè for keeping accounting records that are sufficient to show and explain the
charity's transactions, disclose with reasonable accuracy al any time the financial position of the charity
and enable them to ensure that the financial slalements ccrfnpty with the Charities Act 2011, the
Charities IAc¢ounts and Reports) Regulations 2008 and the provisions of the ¢harity's constitution. They
are 81s0 responsible for safeguarding the assets of tre charity and hence for taking reasonable steps
for the prevention and detection (rf fraud and other irregularities.
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UNION OF BRUNEL STUDENTS
ANNUAL REPORT AND ACCOUNTS
FOR THE YEAR ENDED 31 JULY 2023
PROVISION OF INFORMATION TO AUDITORS
The Trusleès al the time when this Trijslees, Report is approved have confirmed Ihal..
so far as the Trustees are aware, there is no relevant audit information of which the
Union's auditors are unaware, and
the T￿slee5 have taken all the steps that ought lo have been taken as the Trustees in
order to be aware of any information needed by the Union's auditors in connection with
preparing their report and to establish thal the Union's auditors are aware of Ihal
information.
This report was approved by the board on 23 November 2023 and signed on ils behalf by..
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Docusign En¥ÈlopÈ ID". C6BOFAC6-FF38-4068-9DDg-89609C068074
UNION OF BRUNEL STUDENTS
ANNUAL REPORT AND ACCOUNTS
FOR THE YEAR ENDED 31 JULY 2023
Independent Auditor's Report to the Trusteas of the Union of Brunel Students
Opinion
We have audited the financial statements of the Union of Brunel Students for the year ended 31 Juty 2023
which Comprise the Slalement of Financi81 Aclivrties, the Balance Sheet, the Statement of Cashflows and
the Notes lo the Financi81 Statements, Including a summary of significant ac¢ounting policies. The financial
reporting framework that h8s been applied in their preparation is applicable law and United Kingdom
AccoLJnting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard
applicable in the UK and Republic of Ireland (United Kingdom Gènerally Accepted Accounting Prscticel.
In our opinion the finanaal statements..
give a true and fair view of the slate of the charity's affairs as al 31 July 2023 and of tts incoming
rèsources and application of resources, including ils income and expenditure for the period then
ended.,
have been properly prepared in accordance wf(h United Kingdom Generally Accepted A￿OUntIng
Praetice,. and
have been p￿pared In accoréance w(ch the requirements of tha Charities AGt 2011.
Basis for opinion
We conducted our audit in accordan￿ with International Standards on Auditing IUKI IISAS IUKII and
applicable law. Our responsibilities under those standard5 are further described in the Auditor's
responsibilities for the audit of the financial statements section of our report. We are independent of the
charitabl6 company in accordan￿ with the ethical requirements that a￿ relevant lo our audit of the financial
statements In the UK, inGluding the FRC'S Ethical Standard, and we have fulfilled our other ethical
responsibilities in accordance with these requirements. We believe that the 8udil evidence we have obtained
is sufficient and appropriate to provide a basis for OLJr opinion.
Coneluslons relating to going concern
We have nothing lo report in respect of the following mallers in relation lo which the ISAS IUKI require us to
report lo you where..
the Trustees, use of the going concem basis of accounting in the preparation of the financial 8talemenls
is not appropriate., or
the Truslees have not dis¢losed in the financial statements any identified material uncertainties Ih8t may
cast significant doubt about the charity's ability to continue to adopt the going concern basis of
3¢countin9 for a period of al least twelve months from the date when the fina￿la1 slalements are
aulhorisèd for Issue.
other information
The Trustees are responsible for the other infomation. The other information comprises the information
included in the annual report, other than the financial statements and our audrf(orfs report thereon. Our
opinion on the financial statements does not cover the other infom)ation and, except lo the extent DtheTwise
explicitly stated in our report, we do not express any form of 8SSkJrance conclusion thereoll.
In connection with our audit of the financial slatemenls, our responsibility is to read the other infomialion
and, in doing $0, consider whether the other information is materially inconsistent with the financial
ststements or our knowledge obtained in the audrt or otherwise appears to be materialty misstsled, If we
identify such material Inconsistencies or apparent material misslalements, we are required to determine
whether there is a material misslalemenl in the financial statements or a material rnisstatement of the other
information. If, based on the work we have perfonned, we Gonclude that there is a material misstatement of
this other inform*ion, we are required lo report that fact.
We have nothing to report in this Tegard.
Page10

Docusign En¥ÈlopÈ ID". C6BOFAC6-FF38-4068-9DDg-89609C068074
UNION OF BRUNEL STUDENTS
ANNUAL REPORT AND ACCOUNTS
FOR THE YEAR ENDED 31 JULY 2023
Independenl Auditor's Rgport to the Trustees of the UnSon of Brunel Students continued
Matt¢Ys on which we are required to report by exception
We h8ve nothing to report in respect of the following mallers in relation to which the Chartties (Accounts 2nd
Reports) Regulations 2008 require us lo report lo you if, in our opinion..
the info￿allOn given in the financial statements is inconsistent in any material respect with the
Trustees, report,. or
SLrfficienl accounting records have not been kept,. or
the financial slalemenls are not in ag￿ement with the accounting records and returns,. or
we have not received all the information and explanations we require for our audit
Responsibilities of Trustee3
As explained more fully in the Trustees, responsibilities statement sel out on page 8, the Trustees (who a
also the directors of the ¢hariiable company for the purposes of company lawl are responsible for the
preparation of the financi81 statements and for being satisfied that they give a true and fair view, and for such
internal control as the Trustees determine is necessary lo enable the preparation of fin8ncial stslernents that
are free frorll material misslatemenl, whether due to fraud or error.
In preparing the fi'nansial statements, the Trustees are responsible for assessing the charity's ability lo
continue 88 a going concern. disclosing, as applicable. matters related lo going concem and using the going
concern basis of accounting unless the Trustees either intend to liquidate the charity orto cease operations,
or have no realistic alternative bul lo do so.
Auditor's responsibilities for the audit of the financial statèments
We have been app(*nled as auditor under section 144 of the Charrties Act 2011 and report in accordance
with the Act and relevant regulations rllade or having effect thereunder.
Our objectives are lo obtain reasonable assurance about whether the financial slalernenls as a whole sra
free from material misstatement, whether due lo fraud or error, and lo issue an auditor's report that includes
our opinion. Reasonable assurance is a high level of assurance, but is not a guarantée that an audit
conducted in accordance with ISAS IUKI will always delect a material misslalemenl when il exists.
Misslalernents can arise from fraud or error and are considered material if, individually or in the aggreg2te,
they could reasonably be exp@ct@d lo inffluen¢e the economic decisions of users taken on the basis of these
financial slalemenls.
Extent to which the audit was consider8d capabla of d&t8cting irregularlties. Including fraud
Irrègularit16s, including fraud, arè instances of non-compliance with laws and regulations. We design
procedures in line with our responsibilities, oulliNed above, to delect material misslalemenls in respect of
irregularvties, including fraud. Thè extènt lo which our procedures are capable of detecting irregularities,
including fraud is detsiled below..
We obtained an understanding ol the legal and regulatory frameworks within whiGh the charity operates,
focusing on those laws and regulations that have a direct effect on the determination of material amounts
and disclosures in the financial slalemenls. The laws ancl regulations we considered in this context were the
Ch8rbties Act 2011 and Charities SORP IFRS10212Q19.
Page 11

Docusign En¥ÈlopÈ ID". C6BOFAC6-FF38-4068-9DDg-89609C068074
UNION OF BRUNEL STUDENTS
ANNUAL REPORT AND ACCOUNTS
FOR THE YEAR ENDED 31 JULY 2023
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 dilect effect on the
financial ststements bul compliance with which might be fund8mental to the charitable comp8ny's ability to
operate or lo avoid a material penatty. We also considered the opportunities and incentives that may exist
within the charitable company forfraud. The laws and regulations we Gonsidered in this context for the Union
were HeaVLh and Safety and General Dats Protection Regulations. Auditing standards Iirnil the ￿quired audit
pracedures to identify non-compliance with these laws and regulations to enquiry of the Tnjstees and other
management and inspeGtion of regulatory and legal Gorrespondents, if any.
Auditing st8ndards limit the wuired audit procedures lo idenlify non-compliance with these laws and
regulations to enquiry of the Trustees and other managernent and inspection of regulatory and legal
correspondence, rf 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. Our audit procedures lo respond lo these risks included
enquiries of management about their own identrficalion and assessment of the risks of irregularities, sample
testing on the posting of journals, reviewing a¢counling 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 st8lements, even though we have properly planned and
performed our audit in accordants with audiLing standards. We are nol responsible for prèventing non-
compliance and cannot be expécted to delecl non-cornplianGe with all laws and regulations. These inherent
limitations are particularly signifi¢anl in the case of misstatement resutting from fraud as this m8y involve
sophislicaled schemes designed lo avoid dete¢tion, including deliberate failure to record transactions.
collusion or the provision of inlenlion81 mlsrepresentsli￿s.
Afurther description of our responsibilitiès forthe audit of the financial statements is located on the Financial
Reporting Council's website at.. www.frc.or
.uklauditorsres
onsibililies. This description forms part of our
audf(or's report.
Use of our raport
This report is made solely to the charity's Trustees, as a body, in aGGordance w((h P8rt 4 of the Charitie5
(Accounts and Reports) Regulations 2008. Our audTt work has been undertaken so that we might stale tr)
the charity's Trustees those matters we are required lo ststè to them in an auditor's report and for no other
purpose. To the fullest extent pemiitted by l¥w, we do not accept or assumè responsibilty lo anyone other
than the charity and the charity's TrLJStees as a body, for our audit work, for this report, Dr for *he opinions
we have fomed.
Crowè U.K. LLP
Statutory Auditor
Reading
Bethshire
Date.. 28 November 2023
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Docusign En¥ÈlopÈ ID". C6BOFAC6-FF38-4068-9DDg-89609C068074
UNION OF BRUNEL STUDENTS
ANNUAL REPORT AND ACCOUNTS
FOR THE YEAR ENDED 31 JULY 2023
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR
(including income and expenditu￿ account)
Notes Unrestricted Designated Restricted
Fund
Fund
Fund
Total
2023
Total
2022
Income
Donations:
Gr3nt income
Other trading activities:
Advertising & marketing
Investment Income
Charitable activitiès for studènts:
Bar & catering
Entertaining
Societies & clubs
othér
1,720,499
555,037
2,275,536
1,910,333
80,700
3.072
80.7
3,072
101,443
248
470,276
124,359
470,276
124,359
113,458
601, 606
145,376
89,407
700
113,458
Total income
2 406 740
668 49S
3 07S 235
2849 113
Expenditure
Raising Funds..
Advertising and marketing
Charitable Actlvlties for students:
AdvicÉ. welfare & representation
Sludenl activities
Bar & Cate￿n￿
Entertainment
Transport
Societies & clubs
21.593
21,593
32,941
627,724
261,590
934,880
237,700
1,299
515 841
12,260
639,984
261,S90
934,880
237.700
1,299
1122 090
612, 779
348, 902
779,092
211, 695
726
799 650
Total expenditure
2.600,627
61 8,509
3,219,136
2, 785, 785
Decrease in pension deficit
331.200
331,200
542,4go
Net Incomellexpènditurel
137,313
49,9B6
187.299
605,818
Transfer between funds
12
Nèt incoming resources after
transfers
Fund balanc&s brought fonmard
185,190
1586 226
2,109
187,299
1555 430
605, 818
2 161248
Fund balances carried forward
12 11,401,036
32,90S
11,368,131) (1,555430)
The notes on pages 16 to 29 fom part ofthese accounts
P2ge13

Docusign En¥ÈlopÈ ID". C6BOFAC6-FF38-4068-9DDg-89609C068074
UNION OF BRUNEL STUDENTS
ANNUAL REPORT AND ACCOUNTS
FOR THE YEAR ENDED 31 JULY 2023
BALANCE SHEET
Charity number.. 1173492
2023
2022
Notes
Fixed assèts
Tangible fixed assets
70.340
98,248
Gu￿ent assets
stocks
Debtors
Cash al bank & in hand
32,5S1
110,233
15,979
72,480
1005 973
10
986,840
1,094,432
Current liabilities
Creditors." amounts due wfchin one year
178733
170 332
Net current assets
808 107
924 100
Nel assets excluding pension liabil((ies
878,447
1,022,348
Pension scheme funding delicit
16
2 246 578
2 577 778
Total net liabilities
Representing Charitable Funds..
RestriGted income funds
students, Societiès & Club funds
other restTi¢led grants
Sports fund
Hardship fund
12
12
12
12
23,004
2, 760
29,111
32
32.905
30, 796
Unrestricted Income funds
General reseNes Iundesignaledl
Pension reserve
Special projects reserve
845,542
{2,246.578)
991,552
f2.577, 778)
12
140103£
1586 226
Total deficit
13
23rd November 2023
The financial statements were approved by the Trustees on
and signed on their beha]f, by..
Docu8vaMdty'.
930EF53E508048D.
Petér Smallwood
Deputy Chair
The notes on pages 16 to 29 form part of these accounts.
Page 14

Docusign En¥ÈlopÈ ID". C6BOFAC6-FF38-4068-9DDg-89609C068074
UNION OF BRUNEL STUDENTS
ANNUAL REPORT AND ACCOUNTS
FOR THE YEAR ENDED 31 JULY 2023
STATEMENT OF CASH FLOWS
2023
2022
Notes
Cash flows from operating activities:
Nel iNcomel{expendilurel
Depreciation
Interest received
(Increaselldec¥ease in stock
Ilncreaselldecrease in debtors
Revaluation of pension deficit
Increaselldecreasel in creditors
187,299
42,331
13,0721
116,5721
{37,7S31
1331,2001
605,818
41,161
(248)
3,409
{32,827)
(542,490)
38 7fO
Net cash generatèd by operating activities
150 566
Cash flows from investing aotivitles
lllterest receivable
Purchase ol18ngible fixed asse18
3,072
248
Net cash used in investing actlvltlo$
83 897
Change in cash and cash equivalents in the year
17
{161,917)
29,636
Cash and cash equivalents 81 the beginning of the year
I OOS 973
976 337
Total cash and cash ￿u1ValentS af the end of the yeay
18
005973
2023
2022
Cash al bank and in hand
The notes on pages 16 10 29 fomi part ofthese aGGounl8,
Page 15

Docusign En¥ÈlopÈ ID". C6BOFAC6-FF38-4068-9DDg-89609C068074
UNION OF BRUNEL STUDENTS
ANNUAL REPORT AND ACCOUNTS
FOR THE YEAR ENDED 31 JULY 2023
NOTES TO THE ACCOUNTS
Charity Information
The Union's principal 8Ctivities are campaigning. iepresentation, provision of social activities and
the organisation of sporting and recreational activities and opportunities. Union of Brunel Students
is a ch8ritable incorporated organisstion ICIOI registered in the UK (Charity registration no.
11734921. The address of the principal offre is Cleveland Road. Uxbridge, Middlesex, UB8 3PH.
Accounting Policies
{al
Aeeountlng convention
The financial reporting framework that has been applied in the preparation of these accounts
is applicable law and Unitèd Kingdom Accounting Standards (unit￿ Kingdom Generally
A¢￿pIed AccoLJnting Practi￿1, including FRS102 'the Financial Reporting Standard
applicable in the UK and Republic of Ireland., and the 2015 Charities Slalemenl of
Recomrnended Practice based théreon-the Charrties SORP and the Companies Act 2006.
Union of Brunel Students rneels the definition of a public benefit entity under FRS 102
Going con¢em
At the time of approval of the annual report and accounts, the Twst&s have reviewed the
Going Concem position carefully with a view to ensuring the ongoing provision of studenl
representation and Services as well as einployment ol staff. The Union has Cash resourGes
and nel Current assets currently well in excéss of slipulaled rninimum levels. The pension
scheme funding deficit represents amounts payable by the Union for the next 13 years and
will be paid out of future income, and the Union are working closèly in conjunction w.rth the
niversty in respect of funding this deficit. University grant funding remains increased year
on year which reflects the Importance of the union's work despite challenging economic
factors. Conservative cash flow modelling with sensitivity analysis indicates that the cash
reserves of the Union are adequate lo meet its obligations as they fall due. Accordingly, tha
Trustees believe the Union's financial resources are sufficient to ensure the Union will
continue as a going concérn for the foreseeable future, being al least 12 months frorn the
ale of approval of the financial statements and have therefore prepared the financial
slalemenls on a going concern basis.
Icl
Income
All incoming resour￿9 are included in the Statement of Financial Activities when th8
students, Unic>n is legally entitled to the inwme, receipt is probable and the amount can be
quantifEd wth reasonable accuracy.
Gifts in kind donated for distribution are included at valuation and rècognised as income
when they are distribut￿ la the projects. Gifts donated for resale are included as income
when they are sold. Donated facilities are included at the value to the Students, Union where
this can be quantified and a third party is bearing th6 cost. No amounts are included in the
financial statements for services donated by volunteers.
Donated services or facilities, which comprise donated services, are included in income at
a valLJalioN which is an estimate ol the financial cost bome by the donor where such a cost
Is quantifiable and measurable. No income is recognised where there is no finan¢iaS cost
borne by a third party.
Income tax recoverable in relation to donations received under Grfi Aid or deeds of wvenant
is recognised at the time of the donation.
Income lax recoverable in relation lo Investment income is rec￿nISed al the lime the
investment income is receivable.
Page18

Docusign En¥ÈlopÈ ID". C6BOFAC6-FF38-4068-9DDg-89609C068074
UNION OF BRUNEL STUDENTS
ANNUAL REPORT AND ACCOUNTS
FOR THE YEAR ENDED 31 JULY 2023
NOTES TO THE ACCOUNTS
Idl
Expènditure
All expenditure is ac¢ounleLI for on an accruals basis and has been in¢luded under expense
categories that aggregate all costs for allocation lo aclivilies. Where costs cannot be directly
attributed lo particular activities they have been allocated on a basis consistent with the use
of the resources.
Expendilule includes irrecoverable VAT. Charitable expenditure comprises the direct and
indirect costs of delivering public benefit. Govemance costs are those inGuried for
Cornplian￿ with constitutional and slalutory requirements, such as the annual audit, annual
elections and training for sabbaliGal officers.
The value of free serviced campus
accommodation is apportioned on estimated floor space occupied. Other central overhead
costs aTe apportioned to charitable and other projeclslackn'vities on a usage basis, pro rala
lo the total costs of each project or activity undertaken.
Fundr8ising Costs are those incurred in sèÉking voluntary contributions and do not include
the costs of disseminating information in support of the charitable activities.
{el
Tangible fixed assets
Fixed assets are ¢apitalised il over £500 and are slated al cost les8 accumulated
depreGl81ion, Depreciation is provided al the following annual lates in order lo wrrte the cost
of assets off over their eslimaled useful lives".-
Fixtures and Fittings
IT & Hi-tec equipment
Motor vehicles
2Q-25'h per annum straight Fine.
33°/.
per annurTr) straight line.
330
per annum sliaighl line.
Cash at bank and hand
Cash al bank and cash in hand includes cash and short term highly liquid investments with
a short malurily of 3 months or less from the date of acquisition or opening of the depos(£ or
similar account.
Igl
Debtors
Short term debtors are M￿sUred at transaction pri￿, less any impainmenl.
Ihl
Creditors
Short term credf(ors are measured at Ir8nsaclion prits.
Pension costs
The Charity participates in the Sludenl Union Superannuation Scheme {SUSSI. a mulli-
employer defined benefit pension scheme whose membership consists of employees of
studenls, unions and related bodies throughout the Country. The Charity is therefore
exposed to actuarial risks associated with other employers, employees and is unable to
identty ils share of the underlying assets arid liabilities of the schemes on ? consislenl and
reasonable basis. As required by Section 28 of FRS 102 °Employee benefits" the Charity
therefore accounts for the schemes as if they were wholly defined contribution SGhemes. As
8 result, the amount charged lo th6 profit and Ioss account représents the contributions
payable to the scheme. Since the Charity has entered into an agreement Ilhe Recovery
Plan) that determine how each employer within the schemes will fund the overall deficit, the
Charity recognises a liability for the contributions payable that arise from the agreement Ilo
the extent that they relate to the deficill with reialed expenses being recognised through the
profil and loss aG¢ounl.
The Union now operates a defined contribution pension Scheme and the pension charge
repre8enls the amounts payable by the Union to the fund in respèct of the year. Differences
between contributions payable in the year and paid are shown as a¢Gruals or prepayments
in the balance shèèt.
Page 17

Docusign En¥ÈlopÈ ID". C6BOFAC6-FF38-4068-9DDg-89609C068074
UNION OF BRUNEL STUDENTS
ANNUAL REPORT AND ACCOUNTS
FOR THE YEAR ENDED 31 JULY 2023
NOTES TO THE ACCOUNTS
Leas8d assets
Rentals payable under opèrating leases are charged as expenditure on a straight line basis
over the period of the lease.
Ikl
Stock
SIoGk is valued al the lower of the cost and its net realisable value 8fter making due
allowance for obsolete and slow-rmoving stocks.
Fund accounting
Unrestricted Funds Geneml funds are unrestricted funds which are 8vailablè for
use at the discretion of the Trustee in furtherance of the general objectives of the
Students, Union and which have not bèen designated for other purposes
Designated Funds Designated f￿ndS comprise unrestricted funds that have been
set aside by the Trustee for particular purposes. The aim and use of each
designated fund is set out in the notes lo the financial slalements
Restricted Funds raised and administered by the Union for specific purposes as
determined by sludenls, such as Club anct Societies Accounts, as well as revenLJe
received for purposes specified by the donor. The cost of r8ising and administering
such funds are Gharged against the specific fund. The aim and use of each restricted
fund is set out in the notes to the financial statements.
{m)
Taxation
No provision is made in these accounts for corporation lax as the Union is exempt from such
laxe8 as a result of ils charilable status.
Inl
Termination benefits
Termination benefits are accounted following a comm((menl by legislation, by ¢onlraclual or
other agreements wth employees lo make payments {or provide other benefits) to
employees when the Union terminates thèir employment.
lol
Financial instruments
The charity only has financial assets and financial liabilities of a kind th* qualify as b8SIC
financial instruments. Basicf nancial instruments ale initially recognised at transaction value
and subsequently measured al their settlement value. The present value of the pension
doficrfc is measured al fair value.
Critical areas of judgement
Preparation of the financial slalements requires rmanagement to make judgements and estimates.
FRS 102 makes the distin¢tion belween a group plan and a mulli-employer ￿he￿&. A group plan
consists of a collection of entities under common control typically with a sponsoring employer. A
mulii4mployer scheme is a scheme for entities not under common control such a5 the Student
Union Superannuation Scheme. The accounting fDr a MU￿1•eMploYer scherne where the employer
has entered into an agreement with the scheme that determines how the employer will fund a deficit
results in the recognition of 8 liability for the contributions payable that arise from the agreement Ilo
the extent that they relate lo the deficit) and the resulting expense in profit or loss in accordance with
section 28 of FRS 102. The Trustees are satisfied that SUSS meets the definition of a mufti-employer
scheme and the Charity has theref(Ye recognised the discounted fair value of the conlradual
contributions under the recovery pl8n in existence al the date of approving these financial
stalemenls.
Page 18

Docusign En¥ÈlopÈ ID". C6BOFAC6-FF38-4068-9DDg-89609C068074
UNION OF BRUNEL STUDENTS
ANNUAL REPORT AND ACCOUNTS
FOR THE YEAR ENDED 31 JULY 2023
NOTES TO THE ACCOUNTS
Voluntary Income
2023
2022
Block grant
Gralll for rent in kind
Free sport grgnt
Other restricted grants
Hardship fund
SUSS Pension defiut contributions & PFF Levy
External grant
1,295,970
424,529
210.000
91.485
11,022
220,626
1, 146,072
300,000
185, 000
50,697
15,D50
210, 120
The University provides renl-free accommodation lo the Union. Under the Charities SORP the
'donations in kind, rnusl be valued and included within the a￿OuntS. The value lo the Union is
considered lo be £424,529 and is included as 'Granl for rènt, above.
Slal
Total expenditure- charltable and other activtty costs
Cost of
sales
staff
costs
Other
costs
Total
2023
Rent
Total
Actlvltios for generatlng
funds
Advertlsing & matkeling
5.372
2,848
13,373
21,593
32,941
Charitable activities
Advice, welfare &
representstion
Student aclimlies
Bars & catering
Entertainment
Transport
Societies & clubs
4S7.770
84.398
97,816
839,984
6f 2, 779
159.737
305,489
120,388
1,025
34.498
123.289
31,347
171
147 978
67.355
261,590
301,841
934,880
85.965
237,700
103
1,299
630 338 1122 090
348,902
779, 092
211, 695
726
799 650
204,261
Total costs
Included in the above Costs is the fee for the preparation and audit of the slalulory accounts of £18,690
(2022.. £16,450)
P￿e 19

Docusign En¥ÈlopÈ ID". C6BOFAC6-FF38-4068-9DDg-89609C068074
UNION OF BRUNEL STUDENTS
ANNUAL REPORT AND ACCOUNTS
FOR THE YEAR ENDED 31 JULY 2023
NOTES TO THE ACCOUNTS
51al
Total expenditure - charitable and other actlvity costs Icontinuedl
2022
Cost of
sales
Staff
costs
Olher
cosls
Tolal
2022
Rent
Total
AGtwities forgenerating
funds
Advertising & Ma￿etIng
6,685
3,547
22, 709
32,941
9, 168
Charilable activities
Advffce, welf8re &
prcscnlalion
Sluderil (Iclivities
Sars & catering
Enterf8inmenl
Traiisport
SoCiet￿s & Glubs
464, 151
65,990
82,638
612, 779
557,697
222,26Q
37,573
230, 719
83,900
103,592
22.797
593
79
216439 ￿114
89,069
248,362
85,306
54
497097
348,902
719, 092
211,695
126
799 650
399, 059
464, 886
159,208
216,111
520 893
Total costs
216
Affiliation fees are:
2023
2022
BUCS
NUS
32,940
33,165
8049
Slb) Central overhead costs Included in Note Slal
2023
Staff
Rent
Other
Total
Usage
Activities for generating funds
Advertising & marketing
0.7Q/o
5,371
2,848
1,707
9.926
Charitable activities
Advice, welfare & representation
Student Activities
Bar & catering
Entertainments
Transport
Societies & Clubs
1?.￿10
8.10/.
29.0°/o
7.4Q
0.04°
34.9°
159,208
65,075
232,5S8
59,132
323
279 140
84,398
34,498
123,289
31,347
171
147 978
50,604
20,684
73.921
18,795
1Q3
294,210
120,257
429,778
109,274
597
Totals
Page 20

Docusign En¥ÈlopÈ ID". C6BOFAC6-FF38-4068-9DDg-89609C068074
UNION OF BRUNEL STUDENTS
ANNUAL REPORT AND ACCOUNTS
FOR THE YEAR ENDED 31 JULY 2023
NOTES TO THE ACCOUNTS
51bl
Central ov8rh8ad costs included in Note 5(al Icontinuedl
2022
staff
Renl
Olh@r
Total
Usag8
AGlivilies forgeneralpng lunds
Adv8rtising 8 mart6tin9
1.2%
6,685
3,547
2,508
12, 740
Charitable &ctivilies
Advice, welfare & representation
student Activities
Sdr & Cclteriff
Entertainments
Transport
Societies & Clubs
22.0°
12.5%
27.80A
7.6°A
0.03%
28.7%
124,3
70,803
158, 103
42,960
149
162 275
65,990
37,573
83,900
22,797
79
46, 655
26,564
59,318
f6,118
55
236, 998
134, 940
301,321
81,875
283
Tot81s
iooy.
77 429
Staff costs
2023
2022
Wages and salaries
Social secut¢ly
Pension costs
1,062,772
96.177
234 606
915,085
109,945
219 409
The number of employees whose emoluments Igross pay plus taxable benefits) exceeded £60,000
during the yearwere as follows..
£70,001- £80.000
Pension contributions lotalled £4,707 for the above higher paid employee.
The key management personnel of the Union are the Trustees and the Senior Management Team,
listed on page 1. The aggregate remuneration (including employer Nl and employer pension
conlributionsl of key management personnel was £266,533 (2022.. £275.29fJ. The average staffing
was as follows:_
Pemanenl staff
Students- larm lime onl
27
26
28
22
There was ono redundanGy in the y8ar lotslling £10,OOQ (Nil in 2022).
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Docusign En¥ÈlopÈ ID". C6BOFAC6-FF38-4068-9DDg-89609C068074
UNION OF BRUNEL STUDENTS
ANNUAL REPORT AND ACCOUNTS
FOR THE YEAR ENDED 31 JULY 2023
NOTES TO THE ACCOUNTS
Trustees, remuneration and expenses
Sabbatical Offi￿1$ a￿ paid 8$ authorised in the Union's goveming document, for the represenlalion,
campaigning and support work they undertake as distinct from their trustee responsibilities. This
work included voicing sludenl opinion with the University and lo¢al community, defending and
exlending the ￿￿hl$ of students through petrtions etc. and also organising and supporting student
volunteers and service provision for them.
The lolal salary and social securty costs for the sabbatical officers in post in the year was as follows..
Total
remuneration
VP College of Health, Medicine and Life Sciences
VP College of Business, Arts and Social sGien￿s
VP College of Design, Engineering and Physical SCien￿s
Community Living officer
27,742
28,453
26,140
2.059
Eleven trustees were reimbursed1202112022'. Four) with a total of £2,8321202112022.' £2,006) in
connection with their duties during the period. The expenses reimbursed during the yèar related to
training and attendance at conferences and meetings.
Tangible fixed assets
Flxtures & IT and Hi-tec
fittings
equipment
Total
COST
At 1 August 2022
Addrtions
298.275
738,864
43r.139
At 31 July 2023
307 644
14
918
DEPRECIATION
At 1 August 2022
Charge for the year
222, T59
116, 132
338,891
At 31 July 2023
252 487
381 222
NET BOOK VALUE
At 31 July 2023
At 31 July 2022
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Docusign En¥ÈlopÈ ID". C6BOFAC6-FF38-4068-9DDg-89609C068074
UNION OF BRUNEL STUDENTS
ANNUAL REPORT AND ACCOUNTS
FOR THE YEAR ENDED 31 JULY 2023
NOTES TO THE ACCOUNTS
Stock
2023
2022
Bar and shop stock
15
2023
2022
10
Debtors
Trade debtors
Other debtors
VAT debtor
Prepayments & 8¢¢rued incorne
41,445
5,315
9,254
38,083
5,369
794
11
CYedltors-
amounts due within one yèar
2023
2022
Trade creditors
Social securtty & other taxes
Other creditors
Accruals & deferred income
50.222
51,877
6,862
47,505
22,029
3,544
Deferred Income
2023
2022
Balance as al 1st August 2022
Amounts r&l8as@d lo income in the year
Amounts deferred in the year
2,600
12,6001
2,150
(2, 150)
Balance 8131 July 2023
2600
Deferred income includes receipts relating to the subsequent period, being income received in
advance for events taking place after the year end.
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Docusign En¥ÈlopÈ ID". C6BOFAC6-FF38-4068-9DDg-89609C068074
UNION OF BRUNEL STUDENTS
ANNUAL REPORT AND ACCOUNTS
FOR THE YEAR ENDED 31 JULY 2023
NOTES TO THE ACCOUNTS
12
Fund analysis
Asat31
Jiily
2022
Asat31
July
2023
Incomlng
resourGes
Resources
expended
Transfers
Unrestricted Funds
General reseNés
Iundesignaledl
Pension Reserve
991,552
2,406,740
331200
12,600,627)
47,877
845,542
2 246 578
1586 226
2 737 940
2 800 627
1401036
RestriGted Funds
students, Societies &
Clubs Funds
Hardship Fund
SUSS Pension deficit
conlribulion
Other Teslricted grants
Sports Fund
23,004
5032
113,458
11,022
1309,2111
112,2601
172,749
3.794
220,626
113,389
210000
1220,6261
2, 760
187,0381
210000
29,111
796
668 495
618 509
Total Funds
The transfer of £220,626 from Ihe SUSS pension deficit restricted fund to unrestricted funds is to
reimburse the Union for the SUSS pension deficit contributions and PPF levy il has made during the
year.
The transfer of £172,749 from the Students, Societies & Club5 Funds to unrestricted funds
represents the additional costs absorbed by the Union.
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Docusign En¥ÈlopÈ ID". C6BOFAC6-FF38-4068-9DDg-89609C068074
UNION OF BRUNEL STUDENTS
ANNUAL REPORT AND ACCOUNTS
FOR THE YEAR ENDED 31 JULY 2023
NOTES TO THE ACCOUNTS
12
Fund Analysis l¢ontinuedl
2022
Asa131
July
2021
Asat31
July
2022
Incoming
resources
Resources
expended
Transfe
Un￿strICte(l Funds
General reseN6S
(Undesign8ledJ
Pension Roserve
Speoialpmje6ts r8s8Ne
767,360
(3. 120.268)
2,295,445
542,490
{2,281,373J
210, 120
991,552
(2,577, 778)
2 351623
2 837935
2 282 658
210 120
1586 226
Rest17Cted Funds
stiJcl8nl.%' Sncp6)tios &
Clubs Funds
H2Klsliip Fund
SUSS Pension deficit
contribution
Ollierres1r￿ged grants
Sports Fund
124.356
1,831
89,407
15,950
(190, 759)
(12, 749)
23.004
5,032
210, 120
53.191
(210, 120)
24,254
174,685)
224 934
2, 760
190 375
553 668
)3 127
Tolal Funds
612
13
Analysis of net deficit between funds
Unreslricled
FLJnds
RestriGted
Income Funds
Total
At 31 July 2023
Fixed Assets
Current assets
Current liabilities
Pensions
70,340
953,S35
(178,7331
2 246 578
70,340
986,840
1178,7331
2 246 578
32,905
2022
UnTrstricled
Funds
Rest￿￿ted
Income Funds
Total
At 3f July 2022
FIx8d A88Sts
CU￿ent Éssets
Current liabilil
Pensions
98,248
1,023, 126
(170,332)
2 5T7 778
98,248
f,094.432
(170,332)
2577 778
71,396
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Docusign En¥ÈlopÈ ID". C6BOFAC6-FF38-4068-9DDg-89609C068074
UNION OF BRUNEL STUDENTS
ANNUAL REPORT AND ACCOUNTS
FOR THE YEAR ENDED 31 JULY 2023
NOTES TO THE ACCOUNTS
14
Control Relationshlp
The Union is controlled by the Board of Trustees which is subject to democratic election by the voting
membership of the Union. The ultimate control of the Union is vested under the Constitution in the
membership in General rmeeting. As such no single person or entity controls thé Union.
15
Related Partles
The Union is in receipt of a recurrent grant from Brunel Universty of £1,295,970 (2022.. £7, 146,072).
A further grant of £210,000 (2022." £185,000) has beer) received 1¢) facililale free sport club
m&rrbership and £220,626 {2022.. £270,120) was received as a contribution towards the SUSS
nsion deficit payments. Smaller restri¢ted grants are made as the need arises., in 2023 these lotallèd
£124,411 12022. £69, 141).
In addition, the Union occupies its building on a rent free basis under an informal license subject to
the union maint8ining the building in a good state of repair. A notional value for rent in kind is included
in the accounts and amounted lo £424,529 (2022." £300,000).
The Union received catering compensation from the University of £108,114 (2022.. £96,426). This 18
included within bars and catering inGome on the Slalement of Financial Acliwlies.
The Sabbaticals of thè Union are the members of the TTuslee Board and receive remuneration for
their servi￿S as provided for within the Constitution. Whilst basic pay is consistent for these 4 paid
Twstees, the amounts paid 3re variable due lo holiday pay. The remuneration included in the
accoun15 are noted in note 7.
The amount due from Brunel University al the year-end was £13,31 S (2022." £31,337 was due to
Bwnel University).
16
Pension Costs
student Union Superannuation Scheme
2023
2022
Provision as at 1 August
Unwinding and Impact of
chan
e of discoLJnl rale
Deficit contributions
aid
Provision as at 30 Ju
2,577,778
134,568
3 120,268
362, 128
196,632
2 246,578
180.362
2,577,778
The Union participates in the Student Union Superannuation Scheme, a mulli*mployer defined
benefit pension scheme whose membership consists of employees of students. unions and related
bodies throughout the counlry. Benefits in respect of Se￿]ee up to 30 September 2003 are accrued
for on a "fi'nal salary. b8sis, wich benefits in respect of service fiorll l October 2003 8ccruing on a
Career Average Revalued Earnings ICAREI basis, With effect from 30 September 2011 the scheme
closed lo future accrual. The fund is valued al least every three years by a profession8lly qualified
independent actuary with the ratè of contribution payable being determined by the Irustees on thè
advice of the actuary.
The emloyers share the actuarial risks associa18d with all members ofthe scheme. The Union is not
legally rèsponsible for the schéme and does not have sufficient information to use defined benefit
a¢￿Unting. Accordingty the scheme is accounted for as if it is a defined contribution scheme.
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Docusign En¥ÈlopÈ ID". C6BOFAC6-FF38-4068-9DDg-89609C068074
UNION OF BRUNEL STUDENTS
ANNUAL REPORT AND ACCOUNTS
FOR THE YEAR ENDED 31 JULY 2023
NOTES TO THE ACCOUNTS
Penslon Costs Icontlnuedl
The most valuation of the Scheme was carried OLJI as al 30 June 2022 and showed that the
market value of the Scheme's assets Was £106,697,000 with these assets repwesenting 44°/. of the
value of benefits that had accrued lo members aftér allowing for expected future increases in eamings.
The deficit on an ongoing funding basi8 amounted lo £127,640,000. The assumptions which have thè
most significant effect upon the results of the valuation are those relating lo the rale of return on
invèstments and the yield on govemment bonds.
The following assumptions applied al 3LI June 2022..
Discount rate- Gills curve + 1.5Vo pa. linearly changing over a term of 13 years to gilts ¢uNe +
Retail price inflation IRPII- Merrill Lynch swap-implied innalion curve
Consumèr price inflation pre 2030 ICPII- RPI inflation less D.7ts/0 pa
Consumer price inflation post 2030 (CPII- RPI inflation less 0.1.10 pa
Pension increases - A model of each increaso. allowing for Insurers, relative pricing of drfferenl caps
and Collars
The 2022 Valu8tion recommended 8 monthly contribution requirement by each Participating Employer
expressed in monetary terms intended lo clear the ongoing funding deficit over a perrod of 13 years 7
months and will increase by 21 least 5Dlo each year.
Surpluses or de(ici18 which arise al future valuations will also impact on the Union's future contribution
commitment. In addition to the above conlribulions, the Union also pays its share of the Scheme's
Levy lo the Pension ProteCt￿In Fund.
FRS102 and the Charities SORP IFRS1021, require that the charitable company share of past service
shortf811 is reflected In the financial slalemenls. Based on the most recent valuat￿n, the charitable
company contribution to eliminating the shortfall was £196,632 for the year ended 2023 {2022'.
£180,362}.
At 31 July 2023, the balance sheet of the Charitable company includes a liability of £2,246,57812022.'
£2,577,778), which iepresenls the nel present value of all future contributions towards eliminating this
shortfall.
The discount rale used is 5.2Oh12022.' 3.70hl which is ctynparable lo that of the Bank of England Gilt
Curve plus 1.50A per annum, changing over a term of 13 years + 0.250A per annum. The estimated
liability is based on the 2022 Iriannual valualK)n of the Scheme and will nec8ssarily require rèvision
after subsequent revaluations.
In &dition, the Charitable company paid Pension Protection Fund Levy tsf £15.192 12022.. £12,221)
during the year.
Defined Contribution Pension Costs
The Union also operates two defined contribution pension schemes. The assÉts of the schemes are
held separalelyfrom those of the Union in independently administered funds. The pension cost Gharge
represents ¢onlribulions payable by the company to the funds and amounted lo £37.974 (2022..
£39, 107)- Contributions are accounted for as part of the Union's unreslricled funds.
Pension costs Ss disclosed in staff Costs note (note 61 also include Death in Service premiums.
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Docusign En¥ÈlopÈ ID". C6BOFAC6-FF38-4068-9DDg-89609C068074
UNION OF BRUNEL STUDENTS
ANNUAL REPORT AND ACCOUNTS
FOR THE YEAR ENDED 31 JULY 2023
NOTES TO THE ACCOUNTS
17
RECONCILIATION OF NET CASH FLOW TO MOVEMENT IN NET FUNDS
2023
2022
{Decreasellln¢rease in cash and nel funds In the year
{161,9171
29,636
Net funds at 1 August
1005 973
976 337
NET FUNDS AT 31 JULY
18
ANALYSIS OF CHANGE IN NET FUNDS
Nel funds as
At l August
2022
Cash
Change
Netfunds as
at31 Juty
2023
Cash al bank and in hand
Page 28

Docusign En¥ÈlopÈ ID". C6BOFAC6-FF38-4068-9DDg-89609C068074
UNION OF BRUNEL STUDENTS
ANNUAL REPORT AND ACCOUNTS
FOR THE YEAR ENDED 31 JULY 2023
NOTES TO THE ACCOUNTS
19
Comparative Statement of Financial Position
Unrestrictod
Fund
Designaled
Fund
Res117cled
Fund
Total
2022
Income
Donations..
GTrnt incDm8
Other Irading activit￿S..
- Advertising & marketing
Inveslm&nl inGome
Ch8ritable activities forstudents..
- Bar & calering
Enlcrtoining
Societies & clubs
Olher
Covid Job Rel8nlion Scheme
f,446,072
464,261
1.910,333
101,443
248
101,443
248
601,606
145,376
601,606
145,376
89,407
700
89,407
700
Total income
2,295 445
2849 713
Expendilijrsp
Ra￿Ing Furjds..
- Advertising and markoting
Charitable Activities for students..
- Advie(4, welfare & rEpresentalion
Sludent aclivities
Bar & catering
Ent6rtaii?ment
- Transport
Societies & clubs
32,941
32,941
598, 745
348, 902
779,092
211,695
726
309 272
1,285
12, 749
612,779
348,902
T79.092
211,695
726
799 650
490378
Total expenditure
2,281,373
1,285
503. 127
2, 785, 785
Decrease in pension c18fiept
542.490
542,490
Net income/(expeMditureJ
556,562
11.285)
50,541
605,818
Transfér b8tween funds
210 120
210 f 20
Nol incoming rgsoU￿eS after
ltsnslers
Fund balances broughl foThvard
766,682
2 352 908
(7,285)
{159.5T9)
190 375
605, 818
2 161248
Fund balances carried forward
(1,586,226)
30, 796
{1,5￿￿30)
Page 29