2022-07-31-accounts - Beds Su

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CONTENTS	Page
Legal and Administrative Information	3-4
Board ofTrustees' report	5-19
Independent auditors' report	20-22
Statement offinancial activities	23
Balance Sheet	24
Statement ofCash Flows	25
Notes to the financial statements	26-38

Charitable	Status	Beds SU is a charity	established under	the Education	the Education	the Education	Act 1994.
		Beds SU registered	with the Charity	Commission		for England		and
		Wales on the 20th July 2017.
		Registered Charity Number: 1173887
Company		Beds SU isa charitable company limited			by guarantee		and
		registered in England	and Wales on the 16'"June			2017.
		Registered company	number: 10823944
Board ofTrustees
External Trustees		Tania Struetzel
		Daniel Login
		Paida Mash
		John Dix
University	ofBedfordshire	Beverley Hoare (appointed 15'"December 2021)
trustee
Student Trustees		Robert Benson (resigned 20'" October 2021) Winifred Soribe (resigned 30s June 2022) Fiona McFeeley (appointed 1"July 2022)
Sabbatical	Officers	Laura Tamara
		Quadri Yusuf
		Maria Catalina Nits	(resigned 30'" June		2022)
		Dylan Cox (resigned 30'" June 2022) Tabitha Ajao (appointed 1s July 2022) Ryan Murphy (appointed 1"July 2022)
Chief Executive Officer		Mark McCormack
Registered	Office	University Square
		Campus Centre
		Luton
		Bedfordshire
		LU1 3JU
Auditors		FKCA Ltd
		260-270 Butterflieds	Park
		Great Marlings
		Luton
		Bedfordshire
		LU2 8DL

University	does not reach the	does not reach the	benchmark for	benchmark for	benchmark for	the	Targeted activities in areas that the University is
new Teaching Excellence Framework.							awarded low scores. Work in partnership with the
							University to improve their matrix score.
Provision	ofeffective representation.				Inability	to	Widespread communications with academic colleagues.
attract required number		ofAcademic			Reps. Not		Academic Rep steering group. Ensure suitable staff
seen as an effective representation				of student		body.	recruited to D&E positions. Extra resources allocated	to
Impact on UOB quality		assurance.		Reduction		of	BeHeard. Closer partnership between CEO &Student
Block Grant							Experience. Renewed focus with VC Consulting with
							academic colleagues on new models going forward
							Strengthening other areas ofrepresentation through
							Union Parliament to safeguard gaps in academic rep
							s tern. Democratic structure su orts ender balance.
SUSS Pension deficit payment			significantly				Finance Sub-Committee monitoring and planning.
increases	in future years. Unable to maintain						Continue to keep up to date with developments. Work
essential	staffing group	due to	lack	ofresources.			to keep UOB agreement to cover pension increases	in
Cash flow	problems						place. Entered into data sharing agreement with SUSS
							trustees to try to determine ifBeds SU has been
							correctly allocated pensioners.

	(Including income a	nd expenditure)	nd expenditure)
	FOR YEAR ENDING	31*'JULY 2022
	Unrestricted	Restricted	Designated	Total	Total
	Funds	Funds	Funds	2022	2021
INCOME
Donations and legacies	1,142,763	20,000		1,162,763	1,068,949
Other trading activities	206,460			206,460	1,210
Income from investments	171			171	46
Income from charitable activities	99,842			99,842	77,194
Other Income	2,241	6,213		8,454	44,759
Total income	1,451,477	26,213		1,477,690	1,192,158
EXPENDITURE
Raising funds	541,317	3,858		545,175	246,727
Charitable activities
Society Support	60,346			60,346	64,661
Student Representation	388,757	12,213		400,970	428,511
Student Advice	112,596			112,596	137,149
Members Communications	311,200			311,200	312,150
Total charitable expenditure	872,899	12,213		885,112	942,471
Totalresources expended	1,414,216	16,071		1,430,287	1,189,198
Net income/(expenditure)	37,261	10,142		47,403	2,960
	(38,855)		38,855
Transfer between funds
Net movement in funds	(1,594)	10,142	38,855	47,403	2,960
RECONCILATION OF FUNDS
Total funds Bought Forward	347,525	9,401	(537,003)	(180,077)	(183,037)
Total funds carried forward	345,931	19,543	(498,148)	(132,674)	(180,077)

			BALANCE SHEET
			AS AT 31stJULY 2022
			2022	2022		2021
			8	8		8
Fixed assets
Tangible assets		14			50,470		51,420
Current assets
Stock			12,357
Debtors		15	47,565				45,545
Cash at bank and	in hand		419,499				409,904
			479,421				455,449
Creditors: amounts falling due within one		16	(151,549)			(138,679)
year
Net current assets				327,872			316,770
Total assets less	current			378,342			368,190
liabilities
Defined benefit pension scheme liability		17		(511,016)		(548,267)
Total net liability				132,674		180,077
FUNDS
Unrestricted funds:		19
General fund				345,931			347,525
Restricted funds		20			19,543		9,401
Designated Funds				498,148		537,003
Total Funds				(132,674)		(180,077)

								Year Ending	Year Ending
								July 2022	July 2021
								5	K
Cash flows from operating		activities:
Net cash	provided by operating			activities			21	35,857	70,842
Cash flows from investing		activities:					4	171	46
Purchase	oftangible assets						14	26,483	29,368
Net cash	used in investing		activities					9,545	41,520
Change	in cash and cash		equivalents		in the			9,545	41,520
reporting	period
Cash and	cash equivalents		at the	beginning		ofthe		409,904	368,384
reporting	period
Cash and	cash equivalents		at the	end ofthe		reporting	21	419,449	409,904
period

			Unrestricted	Restricted	Total	Total
			Funds f	Funds	2022 6	2021
Donations	and gifts		196,618		196,618	182,468
Grants receivable for core			946,145	20,000	966,145	886,481
activities
			1,142,763	20,000	1,162,763	1,068,949
Donations	and Gifts
Facilities in	kind provided	by	196,618		196,618	182,468
the University
			196,618		196,618	182,468
Grants receivable forcore
activities
Block grant	from University		946,145		946,145	886,481
Other Grants from University				20,000	20,000
			946,145	20,000	966,145	886,481

.Other Trading Activities
Income from trading	Total	Total
	2022	2021
	6	8
The HUB Venue	43,451	459
The Metro Kitchen	104,186
The Metro Bar	58,823	751
	206,460	1,210

.Incom	e from I	nvestments
			Total	Total
			2022	2021
			5	8
Deposit	account	interest	171

			Unrestricted	Restricted	Total	Total
			Funds	Funds	2022	2021
					8	5
BeSupported			176		176
Marketing	and
communication			26,206		26,206	13,324
International		Student salary	73,460		73,460	63,859
recharge
			99,842		99,842	77,194

		Unrestricted	Restricted	Total	Total
		Funds	Funcls	2022	2021
		6	5	5
Re charges		380		380
Kick start grant		500	6,213	6,713	4,337
Job retention	Scheme Grant	1,361		1,361	40,422
		2,241	6,213	8,454	44,759

			Unrestricted	Unrestricted	Restricted	Total	Total
				Funds	Funda	2022	2021
				5	6	6	5
The Metro Kitchen				155,247	3,858	159,105	46,250
The Metro Bar				109,678		109,678	42,678
The HUB Fresher's 2022				138,805 6,792		138,805 6,792	75,104
International	student	payroll		73,723		73,723	66,109
				484,245	3,858	488103	230141
			Metro	Metro	Hub	Total	Total
			Kitchen	Bar	Venue	2022	2021
Support Costs:			E		5	5	6
Facilities provide by			3,203	2,135	2,288	7,626	2,296
UOB
Governance			776	517	554	1,847	428
Depreciation			1,604	1,070	1,146	3,820	847
Staff costs Other			13,962 4,425	9,308 2,950	9,973 3,161	33,243 10,536	9,821 3,194
			23,970	15,980	17,122	57,072	16,586

.Charit	able Activities Costs
			Support
		Direct	Costs	Totals
		costs 5	(Seenote 9) 6	2022 5
Society	Support	43,226	17,120	60,346
Student	Representation	298,241	102,729	400,970
Student	Support	84,060	28,536	112,596
Membership		254,128	57,072	311,200
Communications
		679,655	205,457	885,112

.Support Costs
					Society		Student	Student			Members			Total
				Support		Represent		Support			Communic
					8		ation			8 etio		os
												8
							8
Facilities provide	by UOB				2,286		13,725	3,813 7,626						27,450
Governance					554		3,325		924 1,847					6,650
Depreciation					1,146		6,877	1,910 3,820						13,753
Staff costs					9,973		59,837	16,621 33,243						119,674
Other					3,161		18,965	5,268 10,536						37,930
					17,120		102,729	28,536 57,072						205,457
0.Net Income (Expenditure)
et income/(expenditure)			is stated		after charging
											2022			2021
											8			8
Depreciation											27,433			24,088
National Union of	Students										20,912			20,912
Auditor Remuneration											8,500			7,800
1.Trustees Remuneration				and	benefits
ayment to the Executive			trustees		is permitted	in Beds SU Constitution					on the basis	that not		more
an half ofthe trustees		serving receive remuneration from						Beds SU.
he total cost ofthe six		executive			trustees to	the	Union was	K92,355(2021 590,579) including						Nl
osts. Pension Benefits		were		paid	ofC1,333(2021 K1,031)			Executive		trustees received			remuneration
or their employment	with		Beds SU as Executive				Officers and received				no remuneration		for their
usteeship.
he trustees who received			payment during the year are as below:
Trustee name							Remuneration			received 2021/22		Pension Benefits Received 2021/22
Laura Tamara											821,500			8458
Quadri Yusuf											820,000			8412
Catalina Nita											616,935			6352
Dylan Cox											818,333			50
Ryan Murphy											82,359			555
Tabitha Ajao											82,359			855
Robert Benson											83,900
Winifred Soribe											8336

2.Employees
	Total	Total
	2022	2021
	6	6
Wages and salaries	781,161	690,411
Social Security Costs	64,102	58,424
Other Pension Costs	15,069	13,134
	860,332	761,969

he avera	ge number ofemployees during the y	ear was:
		2022	2021
		Number	Number
Society Support		2	2
Student	Representation	9	9
Student	Advice	3	3
Members	Communication	5	5
Trading activities		2	2
Administration and management		3	3
Student	Staff	15	7
International Student Staff		7	7
		46	38

		FOR YEAR ENDING	31"JULY 20	21
		Unrestricted	Restricted	Designated	Total	Total
		Funds	Funds	Funds	2021	2020
INCOME
Donations	and legacies	1,068,949			1,068,949	1,059,128
Other trading activities		1,210			1,210	210,500
Income from investments		46			46	782
Income from charitable		77,194			77,194	115,361
activities
		44,759			44,759	60,873

	1,192,158			1,192,158	1,446,644
Total income
EXPENDITURE
Raising funds	246,727			246,727	556,635
Charitable activities
BeInvolved	64,661			64,661	45,714
BeHeard	420,511	8,000		428,511	386,477
BeSupported	137,149			137,149	108,777
Marketing and communication	312,150			312,150	257,141
Total charitable expenditure	934,471	8,000		942,471	798,109
Total resources expended	1,181,198	8,000		1,189,198	1,354,744
Net incomei(expenditure)	10,960	(8,000)		2,960	91,900
	(41,683)		41,683
Transfer between funds
Actuarial loss on defined					(251,229)
benefits
Pension scheme
Net movement in funds	(30,723)	(8,000)	41,683	2,960	(159,331)
RECONCILATION OF FUNDS
Total funds Bought Forward	378,248	17,401	(578,686)	(183,037)	(23,708)
Total funds carried forward	347,525	9,401	(537,003)	(180,077)	(183,037)
14.Tangible Fixed Assets			Fixture,
			Fittings &
			Equipment
Cost At1"August 2021			146,840
Additions			26,483
Disposals At31"July 2022			173,323
Depreciation
As at 1"August 2021			95,420
Charge for the year			27,433
Disposals At31"July 2022			122,853

			Balances Incoming 1"August Resources	Balances Incoming 1"August Resources	Balances Incoming 1"August Resources	Resources Expended	Resources Expended	Transfers	Balances at 31"July
				2021					2022
					6
				6
Future years depreciation				61,507				6,298	67,805
charge
Current years				(16,088)				(17,574)	(33,662)
Depreciation charge
Total Depreciation	fund			45,419				(11,276)	34,131
Pension Deficit			(582,422)					34,131	(548,291)
Enhanced								16,000	16,000
Maternity/Paternity		pay
Total Designated	Funds			537,003)				38,855	498,148)
0.Analysis ofnet assets between				funds
Fund balances at31st'" July			2022	Unrestricted	Restricted		Designated		Total
are represented	by:			Funds 6		Funds		Funds	6
						6		6
Tangible Assets				34,144		16,326			50,470
Current Assets				426,061		3,217		50,143	479,421
Creditors: amounts		falling	due	(111,586)		(2,688)		(37,275)	(151,549)
within one year
Creditors: amounts		falling	due					(511,016)	(511,016)
within over one year
				348,619		16,855		(498,148)	(132,674)

							Year Ending	Year Ending
							July 2022	July 2021
							5	6
Cash flows from operating		activities:
Net cash	provided by operating activities						35,857	70,842
cash flows from investing		activities:					171	46
Purchase	oftangible assets						26,483	(29,368
Net cash	used in investing		activities				9,545	41,520
Change	in cash and cash equivalents				in the reporting		9,545	41,520
period
Cash and	cash equivalents		transferred	in on 1 August		2021	409,904	368,384
Cash and	cash equivalents		at the end	ofthe reporting		period	419,449	409,904

Reconciliation ofn	et (	expenditure)/income	to net cash flow	from operating activiti	es
				Year Ending	Year Ending
				July	July
				2022	2021
					5
Net income/(expenditure)		for the reporting	period	47,403	2,960
Depreciation				27,433	24,088
(Increase)/decrease	in	stocks		(12,357)
(Increase)/decrease	in	debtors		(2,020)	70,088
Increase/(decrease)	in	creditors and provisions		(24,431)	(26,248)
Cashflow from investing		activities		171	46
Net cash provided	by	(used in) operating	activities	35,857	70,842
Analysis ofcash and cash equivalents
				Year Ending	Year
				July 2022	Ending
				6	July 2021
					6
Cash in hand				419,449	409,904