#
|||
|---|---|
|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|||||||
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|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.||
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||(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)|
##
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##
||||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)||
##
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##
|||||||||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||||||||||
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||||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|
##
##
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||||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||||
##
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|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|||
##
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||||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)|
##
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||||||||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|
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