| Report ofthe Trustees | to | 12 | |
|---|---|---|---|
| Report ofthe Independent Auditors |
13 | to | 15 |
| Statement ofFinancial Activities | 16 | ||
| Balance Sheet | 17 | ||
| Cash Flaw Statement | 18 | ||
| Notes tothe Gash Flow Statement | |||
| Notes tothe Financial Statements | 20 | lo | 28 |
| The Trustees ofthe Union | The Trustees ofthe Union | are als | o the Compa | ny Directors forthe purpo |
se ofthe C | ompanies Act, they inc |
|---|---|---|---|---|---|---|
| Sabbatical Trustees | 2021-22 | (Started 1July 2021) | 2020-21 | (Started 1July 2020) | ||
| President | Gesmlna | Tsourrai | Shima Dallali | |||
| Vice President | Education | Ruqalyah | Javaid | |||
| Vice President | Community | & | ||||
| Wellbeing | Shahd Haj Khati | |||||
| Students' Union |
Oflicer | Aaminah | Petal | |||
| Students' Union |
Oificer | Yavuz Emin Kafadar | ||||
| Students' Union |
Oflicer | Fortune | Sampson |
| 2022 | 2021 | |||||
|---|---|---|---|---|---|---|
| Unrestricted | Restricted | Total | Total | |||
| fund | funds | funds | funds | |||
| Notes | f | E | ||||
| INCOINE AND ENDOWMENTS FROM | ||||||
| Donations and legacies |
2 | 1,230,677 | 1,230,677 | 961,416 | ||
| Charitable actlvi0ss | ||||||
| Societies | 37,141 | 37,141 | 8,297 | |||
| Retail | 15,082 | 15,082 | 11,955 | |||
| Other trading activities |
3 | 41,138 | 41,138 | 1,581 | ||
| Investment income |
4 | 1,353 | 1,353 | 920 | ||
| Total | 1,288/50 | 3'7,141 | 1,325/91 | |||
| EXPENDITURE ON | ||||||
| Charitable activities |
||||||
| Student Activities | 352,644 | 352,644 | 236,345 | |||
| Societies | 36,496 | 38,496 | 3,195 | |||
| Retail | 97,227 | 97,227 | 50,137 | |||
| Advice | 148,093 | 148+93 | 125285 | |||
| Representation and |
Democracy | 408,959 | 408,959 | 373,325 | ||
| Communication and |
Marketing | 238,681 | 238,681 | 120,014 | ||
| Total | 1,305,604 | 36,496 | 1,342,100 | 908,301 | ||
| NET INCOME/(EXPENDITURE) | t17,354) | 645 | (18,709) | 75,868 | ||
| RECONCILIATION | OF FUNDS | |||||
| Total funds brought | fewsrd | 538,446 | 53,162 | 589,808 | 513,740 | |
| TOTAL FUNDS CARRIED FORWARD | 519,002 | 53,807 | 572,890 | 589,608 |
| 2022 | 2021 | |||||
|---|---|---|---|---|---|---|
| Unrestricted | Restricted | Total | Total | |||
| Notes | fund f |
funds f |
funds | fundsf | ||
| CURRENT ASSETS | ||||||
| Stocks Debtors |
12 13 |
15,319 43,483 |
15,319 ~3 |
8,834 17,394 |
||
| Cash at bank and in hand | 604,773 | 53,807 | 558,580 | 673,013 | ||
| 663,5'75 | 53,807 | 717,382 | 699,241 | |||
| CREDITORS | ||||||
| Amounts falling due within one year |
14 | (144,483) | (144,483) | (109,633) | ||
| NET CURRENT ASSETS | 519,092 | 53,807 | 572,899 | 589,608 | ||
| TOTAL ASSETSLESSCURRENT | ||||||
| LIABILITIES | 519,092 | 53,$07 | 572,899 | 589,608 | ||
| NET ASSETS | 519,092 | 53,807 | ' | 572,899 | 589,608 | |
| FUNDS | 15 | |||||
| Unrestricted funds |
519&092 | 536,446 | ||||
| Restricted funds | 53,807 | 53,162 | ||||
| TOTAL FUNDS | 572,899 | 589,608 |
| 2021 | |||||
|---|---|---|---|---|---|
| Notes | |||||
| Cash flows from | operating | activities | |||
| Cash generated from operations |
1 | (15,786) | 26,496 | ||
| Net cash {used in)lprovided | by operating | activities | (15,786) | 26,496 | |
| Cash flows from | investing | activities | |||
| Interest received | 1,353 | 920 | |||
| Net cash provided | by investing activities |
1,353 | 920 | ||
| Change In cash |
and cash | equivalents | |||
| In the reporting | period | (14,433) | 27,416 | ||
| Cash and cash equivalents | at the | ||||
| beginning ofthe |
reporting | period | 673,013 | 645,597 | |
| Cash and cash equivalents | atthe end | ||||
| ofthe reporting | period | 656,580 | 673,013 |
| RECONCILIATION ACTIVITIES |
OF NE | T | (EXPENDITURE | )IINCONE TO NET CASH FL |
OW FRONI OPE | RATING | |
|---|---|---|---|---|---|---|---|
| 2022 | 2021 | ||||||
| 6 | |||||||
| Net (expenditure)fincome | forthe reporting | period (asper the | |||||
| Statement ofFinancial ActWities) | (16,70$) | 75,888 | |||||
| Adjustments for. |
|||||||
| Interest received | (1,353) | (920) | |||||
| Increase in stocks | (6,485) | (935) | |||||
| Increase in debtors | (26,089) | (12,218) | |||||
| Increase/(decrease) | in creditors | 34,850 | (35,299) | ||||
| Net cash (used in)lprovlded | by operations | (15,786) | 26,498 | ||||
| 2. | ANALYNS OF CHANGES | IN NET FUNDS | |||||
| At 1.8.21 | Cash liow | At31.7.22 | |||||
| R | S | ||||||
| Netcash | |||||||
| Cash at bank and in hend | 673,013 | (14,433) | 658,580 | ||||
| 673,013 | (14,433) | 658,560 | |||||
| Total | 673,013 | (14,433) | 658,580 |
| 2. | DONATIONS | AND LEGACIES | AND LEGACIES | ||
|---|---|---|---|---|---|
| 2022 | 2021f | ||||
| Other grants Donations |
43,673 085,000 |
5,416 956,000 |
|||
| Notional recharge grant | 202,004 | ||||
| 1,230,677 | 961,416 | ||||
| 3. | OTHER TRADING ACTIVITIES | ||||
| 2022 | 2021 | ||||
| E | E | ||||
| Events income | 7,034 | 69 | |||
| NUS Card | 1,072 | 1,501 | |||
| Miscellaneous | Income | 331032 | 11 | ||
| 41,138 | 1,581 | ||||
| 4. | INVESTNIENTINCOME | ||||
| 2022 | 2021 | ||||
| E | E | ||||
| Deposit account Interest | 1,353 | 920 | |||
| 5. | INCOIIE FROII CHARITABLE ACTIVITIES | ||||
| 2022 | 2021 | ||||
| Activity | E | ||||
| Societies income | Societies | 37,141 | 8,297 | ||
| Shop income | Retail | 18,082 | 1'l,955 | ||
| 52/23 | Z),252 |
| Support | ||||
|---|---|---|---|---|
| Direct | costs (see | |||
| Costs | note 7) | Totals | ||
| f. | ||||
| Student Activities | 157,956 | 194,688 | 352,644 | |
| Societies | 36,496 | 36,408 | ||
| Retail Advice Representation Communication |
and Democracy and Marketing |
13,786 120,281 2T4,270 183,053 |
83,441 27,812 194,689 55,628 |
97,227 148,0$3 468,959 238,681 |
| 785,842 | Governance | 1,342,100 |
| SUPPORT CO | STS | |||
|---|---|---|---|---|
| Management | costs | Totals | ||
| E | ||||
| Student Activities | 191,504 | 3,184 | 1~688 | |
| Retail | 82,07T | 1,364 | 83,441 | |
| Advice Representation Communication |
and Democracy and Marketing |
27,358 'l$1,506 54,718 |
454 3,183 910 |
27,812 1$4,689 55,628 |
| 547,163 | 9,095 | 556,2SS |
| 2022 | 2021 |
|---|---|
| F. | F. |
| 95,339 | 86,024 |
| STAFF CO | STS | ||||
|---|---|---|---|---|---|
| 2022 | 2021 | ||||
| E | |||||
| Wages and | salaries | 804,285 | 746,040 | ||
| 804,285 | 746,040 | ||||
| The average | monthly | number ofemployees | during the year was as follows: | ||
| 2022 | 2021 | ||||
| Full time | 16 | 16 | |||
| Part time | 2 | 2 | |||
| 18 | 18 |
| L'60,000 | was: |
||
|---|---|---|---|
| 2022 | 2021 | ||
| f60,001 | - F70,000 | 1 |
| 11. | COIIPARATIVES FOR THE STATEINENT OF FINANCIAL ACTIVITIES Unrestricted |
COIIPARATIVES FOR THE STATEINENT OF FINANCIAL ACTIVITIES Unrestricted |
COIIPARATIVES FOR THE STATEINENT OF FINANCIAL ACTIVITIES Unrestricted |
Restricted | Total |
|---|---|---|---|---|---|
| fund | funds | funds | |||
| INCOME AND ENDOlNNENTS Donations and legades |
FROIH | 961,416 | 961,416 | ||
| Charitable activities Societies Retell |
11,955 | 8,297 | 8,297 11,955 |
||
| Other trading activities Investment income |
1,581 920 |
1,581 '920 |
|||
| Total | 975,872 | 8,297 | 984,'l69 | ||
| EXPENDITURE ON | |||||
| Charitable activities Student Activities Societies Retail Advice Representation and Democracy Communication and Marketing |
236,345 50,137 125,285 373,325 120,014 |
3,195 | 236,345 3,195 50,137 125,285 373,325 120,014 |
||
| Total | 905,106 | 3,195 | 908,301 | ||
| NET INCOINE | 70,766 | 5,102 | 75,868 | ||
| RECONCIUATION OF FUNDS Total funds brought foneard |
465,680 | 48,060 | 513,740 | ||
| TOTAL FUNDS CARRIED FORWARD | 536,446 | 53,162 | 589,608 |
| 12. | STOCKS | |||||
|---|---|---|---|---|---|---|
| 2022 | 2021 | |||||
| 6 | ||||||
| Stocks | 15319 | 8,834 | ||||
| 13. | DEBTORS:AMOUNTS FALUNG DUE WITHIN ONE YEAR | |||||
| 2022 | 2021 | |||||
| 6 | E | |||||
| Trade debtors | 213 | 235 | ||||
| Other debtors | 5,895 | 184 | ||||
| VAT | 4,'l31 | 3,533 | ||||
| Prapaymenis | and accrued income | 33,244 | 13,482 | |||
| 17,394 | ||||||
| 14. | CREDITORS: | AiiiIOUNTS FALLING DUE WITHIN ONE YEAR | ||||
| 2022 | 2021 | |||||
| 6 | E | |||||
| Trade creditors | 29,518 | 3,583 | ||||
| Other creditors | 'l1,112 | 8,077 | ||||
| Accrued expenses | 103,853 | 97,973 | ||||
| 144v483 | 109,633 | |||||
| 15. | MOVEMENT | IN FUNDS | ||||
| Net | ||||||
| movement | At | |||||
| At 1.8.21 f |
in funds f |
31.7.22 | ||||
| Unrestricted General fund |
funds | 536~ | (17,354) | 519,N2 | ||
| Restdcted funds | ||||||
| Socfe6es | 53,162 | 645 | 53,807 | |||
| TOTAL FUNDS | 589,608 | (16,7N) | 572,899 |
| MOVEMENT | MOVEMENT | IN FUNDS - contin | IN FUNDS - contin | IN FUNDS - contin | ued | ||||
|---|---|---|---|---|---|---|---|---|---|
| Nei movement | in funds, included | in the above | are as follows: | ||||||
| incoming | Resources | Movement | |||||||
| resources | expended f |
in funds | |||||||
| Unrestricted | funds | ||||||||
| General fund | 1,28&,250 | (1,305,604) | ('l7,354) | ||||||
| Restricted funds | |||||||||
| Societies | 37,141 | (36,496) | |||||||
| TOTAL FUNDS | 1,325,391 | (1,342,100) | (16,709) | ||||||
| Comparatlvss | formovement | in | funds | ||||||
| Net | |||||||||
| movement | At | ||||||||
| At 1.8.20 | in funds | 31,7.21 | |||||||
| E | |||||||||
| Unrestricted | funds | ||||||||
| General fund | 465,680 | 70,766 | 536,446 | ||||||
| Restricted funds | |||||||||
| Socieiies | 48,060 | 5,102 | 53,162 | ||||||
| TOTAL FUNDS | 513,740 | 75,868 | 589,608 | ||||||
| Comparative | nel movement | in | funds, included | in the above are | as follows: | ||||
| Incoming | Resources | Movement | |||||||
| resources | expended | in funds | |||||||
| F | |||||||||
| Unrestricted | funds | ||||||||
| General fund | 975,872 | (905,106) | 70,766 | ||||||
| Restricted funds | |||||||||
| Societies | 8,297 | (3.195) | 5,102 | ||||||
| TOTAL FUNDS | 964,169 | (908,301) | 75,866 |
| Net | ||||
|---|---|---|---|---|
| movement | At | |||
| At 1.8.20 | in funds | 31.7.22 | ||
| Unmstrlcted | funds | |||
| General fund | 465,680 | 53,412 | 519,092 | |
| Restricted funds | ||||
| Societies | 48,060 | 5,747 | 53,807 | |
| TOTAL FUNDS | 513,740 | 59,159 | 572,899 |
| A current ye above are as |
ar 12 months and prior ye follows: |
ar 12 months combined net move |
ment in funds, i |
ncluded in |
|---|---|---|---|---|
| incoming | Resources | Movement | ||
| resources | expended | in funds | ||
| K | F | |||
| Unrestricted | funds | |||
| General fund | 2,264,122 | (2,210,7'l0 ) | 53,412 | |
| Restricted funds | ||||
| Societies | 45,438 | (39,691) | 5,747 | |
| TOTAL FUNDS | 2,309,560 | (2,250,401 ) | 59,159 |
| RELATED P | ARTY DISC | LOSURES | LOSURES | LOSURES |
|---|---|---|---|---|
| The following | transactions | took place with sabbatical officers in the year ended the 31stJuly, 2022. | ||
| Sabbatical Post | Salary | Expenses | ||
| President | E30,838 | F176 | ||
| Vice president | Education | R32,250 | f352 | |
| Vice president | Activities and Development | f32,250 | Nil |