**UNIVERSITY COLLEGE BIRMINGHAM STUDENTS’ UNION (THE GUILD OF STUDENTS)**
# **UNIVERSITY COLLEGE BIRMINGHAM STUDENTS’ UNION (THE GUILD OF STUDENTS)**
**CHARITY NO. 1177734**
## **TRUSTEES’ REPORT AND ACCOUNTS**
**FOR THE YEAR ENDED 31 JULY 2023**
1
**UNIVERSITY COLLEGE BIRMINGHAM STUDENTS’ UNION (THE GUILD OF STUDENTS)**
## **Reference and Administrative Details**
## **Registered Charity number**
1177734
## **Principal Address**
UCB Guild of Students University College Birmingham Summer Row Birmingham B3 1JB
## **Trustees**
|Andrew Neil Parsons|Appointed 21/02/2018||Chair|
|---|---|---|---|
|Lorraine Teague|Appointed 21/02/2018|||
|Natalie Jordan|Appointed 13/07/2021|||
|Bubbacar Kanyi|Appointed 01/02/2022|||
|Tom Hillen|Appointed 01/07/2022||Deputy-Chair (until
25/05/2023)|
|Leilani-Gabrielle Courtney|Appointed 01/07/2022|Resigned 01/04/2023|Deputy-Chair (until
01/04/2023)|
|Dominika Wilczynska|Appointed 25/05/2023||DeputyChair|
|Natasha Fernandes|Appointed 25/05/2023|||
|Panchami Venugopal|Appointed 25/05/2023|||
## **Senior staff member**
Sarah Kerton – Guild Director
## **Independent Examiner**
– Birmingham Voluntary Service Council
2
**UNIVERSITY COLLEGE BIRMINGHAM STUDENTS’ UNION (THE GUILD OF STUDENTS)**
## **Trustees Report FOR THE YEAR ENDED 31 JULY 2023**
The trustees present their report with the financial statements for the year ended 31 July 2023.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's governing document and “Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland, including the adoption of the amendments issued in December 2017 (FRS 102)”.
The trustees confirm that they complied with the duty in Section 4 of the Charities Act 2011 to have due regard to the Charity's Commission general guidance on public benefit "Charities and Public Benefit". The Trustees' Report clearly sets out the charitable objectives, our current activities and how they benefit the public.
3
**UNIVERSITY COLLEGE BIRMINGHAM STUDENTS’ UNION (THE GUILD OF STUDENTS)**
## **Trustees Report (Continued)**
## **FOR THE YEAR ENDED 31 JULY 2023**
This year, building on our solid foundations, we have prioritised shaping students’ lives and making sure that as an organisation we can provide students with everything they need to take responsibility and influence their own communities.
One of the officer's biggest projects during the year is making sure that we have 'established a politically active student body' across campus. This includes making sure that students are aware of issues, events and problems that may be happening in communities that they may be a part of. This project plays a big part in making sure that the work that the officers do align to the strategic direction of the Guild.
## **The Authentic Voice of Students**
To promote awareness and engagement in the Guild’s decision-making as a student-centered organisation, our Speak Week was all about students and hearing what they have to say. Throughout the week and beyond, the team were out and about chatting with students about all the things that matter to them. We received very helpful feedback, including what they care about, what they love about UCB, what they would change if given the chance, and how they engage with us.
In response to our member insight work, we have led two headline campaigns this year: cut the rent and free transport. Our cut the rent campaign focussed on better housing and affordable rent, especially in light of the cost of living crisis. Through weekly resident meetings at The Maltings, Know Your Rights Workshops and regular open meetings held on campus, the campaign received a positive response from students including those who have sent comments and suggestions and those that would like to get involved. Working collaboratively with the National Union of Students, the University of Law Students Union, and Birmingham City University Students' Union our free transport campaign called upon the Mayor to grant students 6 months’ free public transport within the region in response to the cost of living. This included delivering two 5ft Christmas cards containing messages from our students alongside our petition of over 900 students.
## **The Home of a Welcoming, Vibrant Community**
This year included one of our most successful welcome weeks to date - having interacted with around 1,000 students across the week. In February, we welcomed new and current international and home students on to campus during Refresher's week. We put on a series of events throughout the week including an open breakfast with all of the officers, an open mic night, pizza & paint, Girls’ Night In, board games cafe, a trip to IKEA and roller skating. The highlight of the week was Refreshers Fair which received overwhelmingly positive student feedback.
Societies and sports teams add to the vibrancy of student life at UCB and we’re proud of student leaders stepping up as our sports and societies continue to grow. In this year:
- The Guild saw the establishment of faith, liberation and cultural societies before Christmas. We have received significant interest from new students to start a number of cultural societies such as a Nepalese Society.
- On 14th January, the Drama society put on a production of Concord Floral, held at the crescent theatre.
- The Cheerleading Society hosted a number of fundraisers, collaborating with Bakery Society and Pole Society.
- The Rugby Society is currently in the semi-finals for the Men's Midlands conference shield and have supported the establishment of a Women's Rugby Society.
- ACS and Queer Society have been reestablished, engaging with tens of students who had not previously engaged with the Guild.
- There is an increased interest in sports team such as Badminton, Tennis and Cricket.
4
**UNIVERSITY COLLEGE BIRMINGHAM STUDENTS’ UNION (THE GUILD OF STUDENTS)**
## **Trustees Report (Continued) FOR THE YEAR ENDED 31 JULY 2023**
## **A National Voice for Members’ Interests**
We’re delighted that Jay Henry and Tom Hillen attended the National Union of Students’ National conference to present our Education Policy on stopping the narrowing of the education system at HE. This policy is now adopted by NUS and will help to direct advocacy for students on a national scale.
The NUS also convene an annual liberation conference, in which Jay Henry and two of our student leaders went to Liberation Conference and presented a policy on opposing transphobia in academic settings.
## **Developing the Guild**
As a small Students’ Union, a priority for the year has been to sustain the momentum of our organisational development. To support Officer development and the growth of the Guild’s services, we visited Sheffield SU, Liverpool John More SU Liverpool Guild, and Manchester Union.
The Guild saw major changes in staffing over the year, with the entire staff renewed and enlarged into the new year. This put a lot of pressure on the incumbent Officers, but despite this they have worked hard to carry on with actions and activities which have engaged and enriched the student experience at UCB. In order for the Guild to achieve its potential, there is a growing need for suitable premises that can foster greater student engagement and act as a hub for student activity. Building further on our relationship with the University, we hope to address these joint challenges in the near future.
Following a review of students’ understanding of Officers’ portfolios and an increase in funding, we have also changed our Officer structure to align closest with the needs of our students. In place of our current President and Vice-President roles, we will have three portfolio Officers next year: an Education Officer, Societies & Activities Officer and Equalities Officer.
## **Andy Parsons, Chair and Tom Hillen, Deputy Chair**
5
**UNIVERSITY COLLEGE BIRMINGHAM STUDENTS’ UNION (THE GUILD OF STUDENTS)**
# **Financial Review FOR THE YEAR ENDED 31 JULY 2023**
## **Overview**
The financial statements presented cover the year to 31 July 2023.
The Statement of Financial Activities for the year to 31 July 2023 shows total income of £236,907
The principal income source for the Guild on an annual basis is the block grant provided by the University. For the year to 31 July 2023 this was £200,000. This income was supplemented by our trading income of £25,580 from the sale of Guild branded clothing to students and advertising/promotional campaigns.
This year our income from charity activities, specifically society membership and activity, was £19,498
Expenditure for the year was £228,698on charitable activities. The net movement of funds in the year was £8,209
**Financial Review (Continued)**
6
**UNIVERSITY COLLEGE BIRMINGHAM STUDENTS’ UNION (THE GUILD OF STUDENTS)**
## **FOR THE YEAR ENDED 31 JULY 2023**
## **Reserves Policy**
The Board of Trustees have approved UCB Guild’s Reserves Policy in February 2019 which determines the levels of unrestricted reserves required to enable UCB to:
- fund working capital
- fund unexpected expenditure when unplanned events occur
-
- fund shortfalls in anticipated income
The minimum unrestricted reserves required are calculated as 6 months operating costs (as defined by the annual budgeted organisational expenditure) and designated as the ‘Operating Reserve’.
Unrestricted reserves in excess of the required reserves are held as ‘free reserves’. If an amount in excess of this is held in reserve by the Guild, then the Trustees in consultation with stakeholders will draw up a plan to spend these additional funds. If reserves fall below 6 months’ operating costs for more than 6 months, the Trustees should ask management to formulate a recovery plan to be submitted to the Board of Trustees for approval.
The reserves at 31 July 2023 were £114,968.
## **STRUCTURE, GOVERNANCE AND MANAGEMENT**
University College Birmingham Students’ Union (The Guild of Students) is a charity with the ultimate decision making power vested in the Board of Trustees. The Board of Trustees meet at least 3 times a year and receive reports from the Executive Team and the Guild Director.
UCB Guild is a democratic organisation and the Board of Trustees delegate their authority to the membership through the Annual General Meeting and Student Council, subject to legal safeguards. These bodies have powers to direct the work of the charity and the organisation within its charitable objects.
The Executive Committee oversee the day to day running of the Guild and are accountable to its membership. They are responsible for ensuring Guild activities follow correct process, align with UCB Guild’s policy and annual plan, and work toward the aims and objects set out in its constitution. The Executive Committee are elected annually through a cross-campus ballot. All Executive Committee members receive full and regular training and support to enable them to successfully fulfil their duties.
Day to day management of the organisation is delegated to the Guild Director. UCB Guild also employs other non-student staff to ensure effective management of the organisations’ activities who have delegated authority within their roles through the Guild Director.
UCB Guild also has a committee structure with delegated authority within specific fields, to ensure effective controls are in place across the organisation, namely a Finance Subcommittee and HR Subcommittee to the Board of Trustees. All committees have at least one external and one officer trustee as a member.
## **Financial Review (Continued)**
7
## **UNIVERSITY COLLEGE BIRMINGHAM STUDENTS’ UNION (THE GUILD OF STUDENTS)**
## **FOR THE YEAR ENDED 31 JULY 2023**
## **Type of governing document**
UCB Guild is governed by its Constitution dated 21 February 2018 and its supporting Bye Laws.
## **How the charity is constituted**
UCB Guild is an unincorporated association established under the Education Act 1994 and registered with the Charity Commission (No. 1143073) since 28 March 2018.
## **Trustee selection methods**
UCB Guild has provision for up to 12 Trustees. These trustees have a varied background, including students (members) as well as externally sourced ‘professionals’. The post holders have a varied term of office to suit the nature of the position. These are:
- Three Officer Trustees – Ex-Officio serves for one year term in line with their elected position
- Up to 4 student trustees appointed by the Board of Trustees upon recommendation by the Appointments Committee.
- Up to 3 appointed trustees appointed by a simple majority vote of the Appointments Committee, and ratified by Student Council.
## **Trustee induction process**
The Guild Director organises annual trustee training. We offer training to both new and current trustees annually.
## **Relationships with other organisations**
Relationship with University College Birmingham: UCB Guild receives an annual block grant from the University, and occupies office space owned by the University. The University also supplies, free of charge, utilities, facilities such as desktop computers and printers, cleaning and caretaking services. In addition, the University provides spaces for key student group activities, including meeting rooms and a sports hall, with no charges levied. This support is intrinsic to the relationship between UCB Guild and the University. Although UCB Guild runs a small number of commercial activities, it is heavily dependent upon the support of the University. There is no reason to believe that this support will not continue for the foreseeable future as the Education Act 1994 places a duty on the institution to take such steps as are reasonably practical to ensure that the Guild operates in a fair and democratic manner, for the benefit of the membership. UCB Guild works closely with the University to provide the best possible experience of students, ensuring its affairs are properly conducted and that the needs of its members are met.
## **Other relationships**
UCB Guild is a member of the National Union of Students to which it pays an annual affiliation fee. In return it receives support and training in a variety of areas, notably with regard to elections, executive training, governance support and inductions. UCB Guild actively works with other Students’ Unions across the sector to share best practice and offer learning and development opportunities to members and staff.
8
**UNIVERSITY COLLEGE BIRMINGHAM STUDENTS’ UNION (THE GUILD OF STUDENTS)**
## **Financial Review (Continued) FOR THE YEAR ENDED 31 JULY 2023**
## **Risk management**
The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.
The Trustees have considered major risks and have put in place appropriate measures to manage these, including regular reporting systems to ensure that necessary steps can be taken to lessen these risks. The Trustees delegate responsibility to the Finance Committee and Guild Director for monthly finance management.
9
**UNIVERSITY COLLEGE BIRMINGHAM STUDENTS’ UNION (THE GUILD OF STUDENTS)**
## **STATEMENT OF TRUSTEES’ RESPONSIBILITIES**
The trustees, of University College Birmingham Students’ Union (The Guild of Students) are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Charity law in England and Wales and UCB Guild’s constitution require us, as the charity trustees, to prepare annual finance statements giving a true and fair view of the state of affairs of UCB Guild at its financial year end and of its income and expenditure for the year then ended. In preparing those financial statements, we are required to:
- Select the most suitable accounting policies and apply them consistently;
- Observe the methods and principles in the Charities SORP;
- Make judgements and estimates that are reasonable and prudent; and
- Prepare the financial statements on a going concern basis unless it is not appropriate to presume that UCB Guild will continue in business
We are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and enable us to ensure that the financial statements comply with charity law and the particular requirements of UCB Guild and the University under the Education Act 1994.
We are also responsible for safeguarding the assets of the charity and ensuring their proper application in accordance with charity law, and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Approved by order of the Board of Trustees on 21 May 2024 and signed on its behalf by:
Andy Parsons, Chair and Dominika Wilczynska, Deputy Chair
10
## **UNIVERSITY COLLEGE BIRMINGHAM STUDENTS’ UNION (THE GUILD OF STUDENTS)**
## **STATEMENT OF FINANCIAL ACTIVITIES**
## **FOR THE YEAR ENDED 31 JULY 2023**
|**Notes**
INCOME FROM:
Grants and Donations
2
Charitable Activities
3
Other Trading Activities
4
Other
5
**Total**
EXPENDITURE FROM:
Raising Funds
Charitable Activities
**Total**
**6**
**Net surplus for the year**
Gross transfers between funds
NET MOVEMENT IN FUNDS AFTER
TRANSFERS
**RECONCILIATION OF FUNDS**
Balance brought forward at 1 August (SOY)
**Balance carried forward at 31 July (EOY)**|**Unrestricted**
**Restricted**
**Funds**
**Funds**
**£**
**£**
201,011
-
9,498
-
25,580
-
818
-|**Total**|**Total**
**Funds**
**2022**
**£**
157,149
10,592
15,726
36|
|---|---|---|---|
|||**Funds**||
|||**2023**||
|||**£**||
|||||
|||||
|||||
|||201,011||
|||9,498||
|||25,580||
|||818||
||**236,907**
**-**||**183,503**|
|||**236,907**||
||-
-
228,698
-||-
185,637|
|||-||
|||228,698||
||**228,698**
**-**||**18,547**|
|||**228,698**||
||8,209
**-**
-
-||-2,134
-|
|||8,209||
|||||
|||-||
||8,209
0
106,759
-|8,209|-2,134
108,893|
|||||
|||||
|||106,759||
||114,968
0||106,759|
|||114,968||
All amounts relate to continuing activities.
The charity has no recognised gains and losses other than the net movement in funds for the year to 31 July 2023.
11
## **UNIVERSITY COLLEGE BIRMINGHAM STUDENTS’ UNION (THE GUILD OF STUDENTS)**
|**Balance sheet as at 30th July 2023**
Notes
**FIXED ASSETS**
Fixtures & Fittings
10
Computer Equipment
10
Investment assets
10
**CURRENT ASSETS**
Stock (clothing)
Debtors & other assets
11
Cash at bank and in hand
**CURRENT LIABILITIES**
Creditors
11
**NET Assets**
**Represented by:**
**Unrestricted funds**
**13**
**Unrestricted designated funds: Operating**
**reserves**
**13**|**2022-23**
**2021-22**|
|---|---|
||**Unrestricted**
**Funds**
**Unrestricted**
**Funds**
**£**
**£**|
||384
2,686
-
1,577
60
60|
||**444**
**4,322**|
||5,609
1,333
7,326
11,621
103,658
90,885|
||**116,593**
**103,839**|
||-2,069
-1,405|
||**-2,069**
**-1,405**|
|||
||**114,968**
**106,759**|
||**114,968**
**114,968**
**106,804**|
||**114,968**
**106,804**|
The notes on pages 14 to 21 form part of the financial statements. Approved by the trustees of the University College Birmingham Students’ Union (The Guild of Students) 21 May 2024.
12
## **UNIVERSITY COLLEGE BIRMINGHAM STUDENTS’ UNION (THE GUILD OF STUDENTS)**
## **NOTES TO THE FINANCIAL STATEMENTS**
## **FOR THE YEAR ENDED 31 JULY 2023**
- **1 Accounting Policies**
## **Charity information**
UCB Guild is an unincorporated association established under the Education Act 1994 and registered with the Charity Commission (No. 1143073) since 28 March 2018. The registered office is University College Birmingham, Summer Row, Birmingham, B3 1JB.
## **Accounting convention**
The financial statements have been prepared in accordance with the charity’s constitution, the Charities Act 2011 and “Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland, including the adoption of the amendments issued in December 2017 (FRS 102)” and the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). The charity has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows.
The charity meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notes. The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.
## **Going concern**
At the time of approving the financial statements and in spite of the ongoing Covid-19 pandemic, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus, the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.
## **Charitable funds**
Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives unless the funds have been designated for other purposes. Designated funds are unrestricted funds of the charity which the trustees have decided at their discretion to set aside to use for a specific purpose.
## **Income**
All incoming resources are included in the statement of financial activities when entitlement has passed to the charity; it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income:
- income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably. Grants of a general nature that are not conditional on delivering certain levels of service are included in donations and legacies.
- income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliably, in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contribution of general volunteers.
16
## **UNIVERSITY COLLEGE BIRMINGHAM STUDENTS’ UNION (THE GUILD OF STUDENTS)**
## **NOTES TO THE FINANCIAL STATEMENTS**
## **FOR THE YEAR ENDED 31 JULY 2023**
## **1 Accounting Policies (continued)**
Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
## **Expenditure**
All expenditure is included on an accruals basis and is recognised when there is a legal or constructive obligation to pay for its expenditure. All costs have been directly attributed or proportionally charged to the functional categories of resources expended in the SOFA. Expenditure includes any VAT which cannot be fully recovered and is reported as part of the expenditure to which is relates.
Expenditure on charitable activities comprises the costs of clubs and societies activities. These costs are classified as direct charitable expenses.
Governance costs comprise costs related to the governance of the charity, to allow it to operate and to generate information for public accountability. Direct costs will include independent examination fees, legal advice and costs of trustees’ meetings.
All remaining costs are classified as support costs. Support costs are those that assist the work of the charity but do not directly represent charitable activities and include office and admin costs and supporting marketing costs which are allocated to activity based on the proportion of that activity’s direct costs to total costs.
## **Tangible fixed assets**
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses. Depreciation is recognised so as to write off the cost or valuation of assets less their residual values their useful lives on the following bases:
Fixtures and fittings – straight line over 4 years Computer equipment – straight line over 4 years
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset and is recognised in net income/(expenditure) for the year.
## **Stocks**
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
## **Cash and cash equivalents**
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
17
## **UNIVERSITY COLLEGE BIRMINGHAM STUDENTS’ UNION (THE GUILD OF STUDENTS)**
## **NOTES TO THE FINANCIAL STATEMENTS**
**FOR THE YEAR ENDED 31 JULY 2023**
## **1 Accounting Policies (continued)**
## **Financial instruments**
The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
## Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
## Basic financial liabilities
Basic financial liabilities, including creditors are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
## Derecognition of financial liabilities
Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.
## **Taxation**
The charity is exempt from corporation tax on its charitable activities.
## **Employee benefits**
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received. Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
## **Retirement benefits**
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
18
## **UNIVERSITY COLLEGE BIRMINGHAM STUDENTS’ UNION (THE GUILD OF STUDENTS)**
## **NOTES TO THE FINANCIAL STATEMENTS**
## **FOR THE YEAR ENDED 31 JULY 2023**
|**2**
**GRANTS AND DONATIONS**
University College Birmingham – Block Grant
Total unrestricted
Grant and donations
Total grants and donations
**3**
**INCOME FROM CHARITABLE ACTIVITIES**
Student Services e.g. Society memberships
Total unrestricted
Restricted grant and donations
Total income from charitable activities
**4**
**INCOME FROM TRADING ACTIVITIES**
Clothing sales
Advertising & promotion/campaigns
Total unrestricted
Restricted grant and donations
Total income from trading activities
**5**
**OTHER INCOME**
Bank interest
Total unrestricted
Restricted grant and donations
Total income from trading activities||**2023**|**2022**
**£**
148,716|**2022**
**£**
148,716|
|---|---|---|---|---|
|||**£**|||
||||||
|||200,000|||
||||||
|||200,000|148,716
8,433||
||||||
|||1,011|||
||||157,149||
|||201,011|||
||||||
|||**2023**||**2022**
**£**
6,174|
|||**£**|||
||||||
|||9,498|||
|||9,498||6,174
4,418|
||||||
|||-|||
|||||10,592|
|||9,498|||
||||||
|||**2023**||**2022**
**£**
10,265
5,461|
|||**£**|||
||||||
|||20,964|||
|||4,617|||
|||25,580||15,726
-|
||||||
|||-|||
|||||15,726|
|||25,580|||
||||||
|||**2023**||**2022**
**£**
36|
|||**£**|||
||||||
|||818|||
|||818||36
-|
||||||
|||-|||
|||||36|
|||818|||
19
**UNIVERSITY COLLEGE BIRMINGHAM STUDENTS’ UNION (THE GUILD OF STUDENTS)**
## **NOTES TO THE FINANCIAL STATEMENTS (continued)**
## **FOR THE YEAR ENDED 31 JULY 2023**
## **6 ANALYSIS OF EXPENDITURE**
## **Operations**
|**Operations**|||
|---|---|---|
|Operations Salaries|34550||
|Governance|145||
|Student Assistant Funding -|||
|Operations|8924||
|Payroll|1170||
|Website, Software & Comms Tools|6111||
|Audit and Professional Fees|960||
|Stationery|3771||
|Banking Costs|362||
|Cost of Goods|3994||
|Depreciation|3879||
|**Total Operations**||**63,866**|
|y|
6111
960
3771
362
3994
3879||Management Salary
58711
Staff Training
2071
Staff Conferences & Support
507
Trustee Board
786
Hospitality & HR Costs
1411
Staff Equipment - MAN
0|
|---|---|---|---|
|Website, Software & Comms Tools||||
|Audit and Professional Fees
Stationery
Banking Costs
Cost of Goods
Depreciation||||
||||**Total Management**
**63,486**|
|**Total Operations**|**63,866**|||
||||**Student Leadership**
Salaries - LEA
0
Strategic Development - LEA
0
Officer Training - LEA
62
Officer/Rep Conferences
0
Officer-Led Campaigns
0
Trustee Training & Expenses -
LEA
0|
|**Communications & Insight**
Salaries|0
0
0|||
|Welcome
Website & Software||||
|**Total Communications & Insight**|**0**|||
|||||
||||**Total Student Leadership**
**62**|
## **Student Experience**
|**Student Experience**|||
|---|---|---|
|Student Communities Salaries|34721||
|Societies Insurance|2218||
|Sabbatical Salaries|37874||
|Affiliations & Memberships|4158||
|Friendship & Support Activity|2443||
|Communities & Organising Activity|2834||
|Leadership Training|3940||
|Elections|2435||
|Societies Direct Funding|10662||
|**Total Student Experience**||**101,284**|
20
**UNIVERSITY COLLEGE BIRMINGHAM STUDENTS’ UNION (THE GUILD OF STUDENTS)**
**NOTES TO THE FINANCIAL STATEMENTS (continued)**
**FOR THE YEAR ENDED 31 JULY 2023**
## **7. Staffing Cost analysis:**
Gross salary and wages Employer Pension Employer NIC 164213 2442 8125
No members of staff received remuneration (excluding non-taxable benefits in kind) of more than £60,000.
The average number of employees (head count based on number of staff employed) during the year was as follows:
|lows:|||
|---|---|---|
|Raising funds
Student services
Support services
Total|**2023**|**2022**
**No.**
0
3
7|
||**No.**||
||||
||0||
||3||
||7||
|||6|
||9||
21
## **UNIVERSITY COLLEGE BIRMINGHAM STUDENTS’ UNION (THE GUILD OF STUDENTS)**
## **NOTES TO THE FINANCIAL STATEMENTS (continued)**
## **FOR THE YEAR ENDED 31 JULY 2023**
## **8 TRUSTEES REMUNERATION AND EXPENSES**
|**TRUSTEES REMUNERATION AND EXPENSES**|||
|---|---|---|
|Trustees remuneration and employer’s NI
Trustees expenses & admin costs
Total|**2023**|**2022**
**£**
39,744
317.|
||**£**||
||||
||37,874||
||0||
|||40,061|
||37,874||
All sabbatical officers received a salary as authorised in the governing document of the Guild for representation, campaigning and support work they undertake as distinct from their trustee responsibilities. The work includes voicing student opinion with the University and local community, defending and extending the rights of students through petitions and discussions with local MP’s.
## **9 NET MOVEMENT IN FUNDS**
Net movement in funds is stated after charging/(crediting):
|**2023**
**£**
Accountancy & Independent Examiner Fees
960
Depreciation of owned tangible fixed assets
3,879|**2022**
**£**
300
3,879|
|---|---|
22
## **UNIVERSITY COLLEGE BIRMINGHAM STUDENTS’ UNION (THE GUILD OF STUDENTS)**
## **10 FIXED ASSET INVESTMENTS**
The Guild has a holding of 60 ‘A’ shares of £1.00 in NUS Services Ltd.
|**TANGIBLE FIXED**
**ASSETS**
**Fixtures &**
**Fittings**
**Computer**
**Equipment**
**Total**
**£**
**£**
**£**
**Cost or Valuation**
As at 31st July 2022
9,209
6,306
15,515
Additions
-
-
-
Disposals
-
-
-
**As at 31st July 2023**
**9,209**
**6,306**
**15,515**
**Depreciation**
As at 31st July 2022
6,523
4,730
11,253
Charge for the year
2,302
1,577
3,879
Eliminated on disposals
-
-
-
**As at 31st July 2023**
**8,825**
**6,307**
**15,132**
**Net book value**
**As at 31st July 2023**
**384**
**-**
**384**
As at 31st July 2022
2,686
1,577
4,262
**11**
**DEBTORS & OTHER ASSETS**
**2023**
**2022**
**£**
**£**
Trade debtors
2,846
7,008
Prepayments and accrued income
Other debtors – suspense account
-
4,480
-
4,613
7,326
11,621
**12**
**CREDITORS (AMOUNTS FALLING DUE WITHIN ONE YEAR)**
**2023**
**2022**
**£**
**£**
Trade Creditors
Social security and other taxes
626
558
1,797
184
VAT
-75
-576
Accruals and deferred income
960
-
2,069
1,405|**TANGIBLE FIXED**
**ASSETS**
**Fixtures &**
**Fittings**
**Computer**
**Equipment**
**Total**
**£**
**£**
**£**
**Cost or Valuation**
As at 31st July 2022
9,209
6,306
15,515
Additions
-
-
-
Disposals
-
-
-
**As at 31st July 2023**
**9,209**
**6,306**
**15,515**
**Depreciation**
As at 31st July 2022
6,523
4,730
11,253
Charge for the year
2,302
1,577
3,879
Eliminated on disposals
-
-
-
**As at 31st July 2023**
**8,825**
**6,307**
**15,132**
**Net book value**
**As at 31st July 2023**
**384**
**-**
**384**
As at 31st July 2022
2,686
1,577
4,262
**11**
**DEBTORS & OTHER ASSETS**
**2023**
**2022**
**£**
**£**
Trade debtors
2,846
7,008
Prepayments and accrued income
Other debtors – suspense account
-
4,480
-
4,613
7,326
11,621
**12**
**CREDITORS (AMOUNTS FALLING DUE WITHIN ONE YEAR)**
**2023**
**2022**
**£**
**£**
Trade Creditors
Social security and other taxes
626
558
1,797
184
VAT
-75
-576
Accruals and deferred income
960
-
2,069
1,405|**TANGIBLE FIXED**
**ASSETS**
**Fixtures &**
**Fittings**
**Computer**
**Equipment**
**Total**
**£**
**£**
**£**
**Cost or Valuation**
As at 31st July 2022
9,209
6,306
15,515
Additions
-
-
-
Disposals
-
-
-
**As at 31st July 2023**
**9,209**
**6,306**
**15,515**
**Depreciation**
As at 31st July 2022
6,523
4,730
11,253
Charge for the year
2,302
1,577
3,879
Eliminated on disposals
-
-
-
**As at 31st July 2023**
**8,825**
**6,307**
**15,132**
**Net book value**
**As at 31st July 2023**
**384**
**-**
**384**
As at 31st July 2022
2,686
1,577
4,262
**11**
**DEBTORS & OTHER ASSETS**
**2023**
**2022**
**£**
**£**
Trade debtors
2,846
7,008
Prepayments and accrued income
Other debtors – suspense account
-
4,480
-
4,613
7,326
11,621
**12**
**CREDITORS (AMOUNTS FALLING DUE WITHIN ONE YEAR)**
**2023**
**2022**
**£**
**£**
Trade Creditors
Social security and other taxes
626
558
1,797
184
VAT
-75
-576
Accruals and deferred income
960
-
2,069
1,405|
|---|---|---|
||**2023**|**2022**
**£**
7,008
-
4,613|
||**£**||
||||
||2,846||
||-||
||4,480||
|||11,621|
||7,326||
||||
||**2023**|**2022**
**£**
1,797
184
-576
-|
||**£**||
||||
||626||
||558||
||-75||
||960||
|||1,405|
||2,069||
22
**UNIVERSITY COLLEGE BIRMINGHAM STUDENTS’ UNION (THE GUILD OF STUDENTS)**
## **NOTES TO THE FINANCIAL STATEMENTS (continued)**
## **FOR THE YEAR ENDED 31 JULY 2023**
## **13 MOVEMENT IN FUNDS**
## **Reserves Analysis**
## **End of Year**
|Opening Reserves
Total Income
Total Expenditure
Net Movement
Closing Reserves
Unrestricted funds
Unrestricted designated
funds: Operating Reserve
Restricted funds
Unrestricted funds
Unrestricted designated
funds: Operating Reserve
Resgricted funds|**£**
106,759
236,907
228,698
8,209
114,968
**Balance at 1**
**August 2022**
**Incoming**
**resources**
**Resources**
**expended**
**Transfers**
**Balance at 31**
**July 2023**
0
**0**
106,759
236,907
228,698
**114,968**
-
**-**
106,759
236,907
228,698
**114,968**
**Balance at 1**
**August 2021**
**Incoming**
**resources**
**Resources**
**expended**
**Transfers**
**Balance at 31**
**July 2022**
**£**
**£**
**£**
**£**
**£**
8,755
8755
**0**
100,138
170,652
164,031
**106,759**|
|---|---|
||-
12,851
12851
**-**|
||108,893
183,503
185,637
**106,759**|
The following have been identified as related party transactions per the requirements of FRS 102:
**14 RELATED PARTIES**
23
## **UNIVERSITY COLLEGE BIRMINGHAM STUDENTS’ UNION (THE GUILD OF STUDENTS)**
- University College Birmingham: The Guild received block grant of £200,000from the University during the year.
- Trustees of University College Birmingham Students’ Union (The Guild of Students): see note 8 Trustees Renumeration and Expenses.
## **15 PENSIONS**
The charity operates a workplace pension to provide pension arrangements for staff and remunerated trustees that become eligible.
## **16 LEGAL STATUS OF THE CHARITY**
The charity is an unincorporated association
24
## **UNIVERSITY COLLEGE BIRMINGHAM STUDENTS’ UNION (THE GUILD OF STUDENTS)**
## **INDEPENDENT EXAMINERS REPORT**
## **FOR THE YEAR ENDED 31 JULY 2023**
## **TO THE TRUSTEES OF UNIVERSITY COLLEGE BIRMINGHAM STUDENTS’ UNION (THE GUILD OF STUDENTS)**
I report to the trustees on my examination of the financial statements of University College Birmingham Students’ Union (the Guild of Students) for the year ending 31 July 2022.
## **Respective Responsibilities of Trustees and Examiner**
The charity's trustees are responsible for the preparation of the accounts. The charity’s trustees consider that an audit is not required for this year under section 144 of the Charities Act 2011 (the Charities Act) and that an independent examination is needed. It is my responsibility to:
- examine the accounts under section 145 of the Charities Act,
- to follow the procedures laid down in the general Directions given by the Charity Commission (under section 145(5)(b) of the Charities Act), and
- to state whether particular matters have come to my attention.
## **Basis of Independent Examiner’s Statement**
My examination was carried out in accordance with general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a “true and fair” view and the report is limited to those matters in the statement below.
## **Independent Examiner’s Statement**
In connection with my examination, no matter has come to my attention:
- which gives me reasonable cause to believe that in any material respect, the requirements to keep accounting records in accordance with section 130 of the Charities Act, and to prepare accounts which accord with the accounting records and comply with the accounting requirements of the Charities Act, have not been met; or
- to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
17/05/2024
BVSC -Accountancy Services Latham House, 33-34 Paradise St, Birmingham B1 2AJ