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|||Page|
|---|---|---|
|Legal and administrative|Information||
|Board ofTrustees's
report|||
|Independent
Auditors'|Report||
|Statement
Of Financial|Activities||
|Balance Sheet||12|
|Cash Flow Statement||13|
|Notes to the financial statements||14|
##
|Board ofTrustees|JAlogba||||Appointed|I July 2021|
|---|---|---|---|---|---|---|
||A Aroi'e||||Appointed|1 July 2021|
||A Calin||||Appointed|1 July 2021|
||T Gupta||||Appointed|1 July 2021|
||M Golec||||Appointed|14 February 2022|
||BMomson||||Appointed|30 November 2017|
||0Oye-Somefun||||Appointed|14 February 2022|
||N Relan||||Appointed|I July 2020|
||M Shah||||Appointed|I July 2021|
||J Suryavanshi||||Appointed|I July 2021|
||RWilkinson||||||
|Company Secretary|N A Smith||||||
|Company reg. no.|11972527||||||
|Charity reg. no.|1163433||||||
|Registered
office|Middlesex|University||Students'|Union The||
||Hendon||||||
||London||||||
||NW4 4BT||||||
|Auditors|Knox Cropper LLP||||||
||65 Leadenhag||Street||||
||London||||||
||EC3A 2AD||||||
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||||Unrestricted|Restricted|Total|Tola/|
|---|---|---|---|---|---|---|
||||Funds|Funds|Funds|Funds|
|||Note|2023|2023f|2023
6|2022f|
|INCOME AND ENDOWMENTS|FROM:||||||
|Donations
and legames||2|1,404,689||1,404,689|1,298,806|
|Charitable
activities||5|35,871|10,518|46,389|34,992|
|Other trading
activities||3|31,372||31,372|27,339|
|Investments||4|198||198|7|
|TOTAL|||1,472,130|10,518|1,482,648|1,351,144|
|EXPENDITURE ON:|||||||
|Charitable
activities|||1,230,139|10,437|1,240,576|1,219,903|
|TOTAL EXPENDITURE||6|1,230,139|10,437|1,240,576|1,219,903|
|Net Income/Expenditure|||241,991|81|242,072|141,241|
|NET MOVEMENT
IN FUNDS|||241,991|81|242,072|141,241|
|RECONCILIATION
OF FUNDS:|||||||
|TOTAL FUNDS AT 1 JULY 2022|||(2,072,869)|40,584|(2,032285)|(2,173,526)|
|TOTAL FUNDS AT 30JUNE 2023|||||||
||||Notes|||||||
|---|---|---|---|---|---|---|---|---|---|
|||||||2023
6|||2022f|
|FIXEDASSETS||||||||||
|Tangible assets|||10|||25,043|||2.820|
|CURRENT ASSETS||||||||||
|Stocks||||||19,662|||t0,980|
|Debtors||||||86,300|||52,928|
|Cash st bank and in hend||||||231,658|||235,154|
|||||||337210|||299,008|
|CREDITORS: amounts|falling|due||||||||
|within one year|||12|||(229,803)|||(I74,4571|
|NET CURRENT ASSETS||||||108,107|||124,011|
|TOTAL ASSETSLESSCURRENT||||||||||
|LIABILITIES||||||133,150|||127,431|
|CREDITORS: amounts|fafilng|due||||||||
|after one year|||13|||(1,923,363)|||(2, f59,7I6)|
|TOTAL NET LIABILITIES|||||2|1,790,213)||f|2,032,285|
|FUNDS||||||||||
|Unrestricted
funds||||||||||
|Designated
funds|||15|||(2,082,111)|||(2,3f5,950)|
|General
fund|||t5|||251,233|||243,087|
|||||||(1,830,878)|||(2,072,869)|
|Restricted funds|||15|||40,665|||40,584|
||||||f|1,790,213||f|2,032,285|
|The FinanCial
Statementa|have|been|prepared|i~ aCCOrdanCe|With lhe SpeCial||prOViaicna|i~ Pan 15 Of the||
|Companies
Act 2008 relating to||srnsg|companies|and section 1a||ofthe Financial|Reporting|Standard|102.|
##
##
|||||||2023||2022|
|---|---|---|---|---|---|---|---|---|
|||||||5|||
|Cash flows from operating||activities|||||||
|Surplus for the financial year||||||242,072||141,241|
|Adjustments
for:|||||||||
|Depreciation||||||6,740||2,140|
|(Increase) in stocks||||||(8,676)||(2,983)|
|(Increase)/decrease
in|debtors|||||(33,462)||1,253|
|(Decrease) in creditors||||||(181,207)||(82,086)|
|Investment
income|||||||||
|||||||25,269||59,558|
|Cash flows from investing||activities|||||||
|Purchase of intangible|fixed assets|||||(28,963)||(3,143)|
|Return on investment
-|interest receivable|||||198||7|
|||||||(28,765)||(3,136)|
|Net (decrease)/increase
in||cash and cash equivalents||||(3,496)||56,422|
|Cash and cash equivalents|at 1 July 2022|||||235,154||178,733|
|Cash and cash equivalents||at 30June 2023|||6|231,658|5|235,155|
|Components
ofcash and|cash equivalents||||||||
|||||At 1July||||At 30June|
|||||2022||Cashflows||2023|
|Cash at bank and in hand|||5|235,154|6|(3,496)|6|231,658|
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|2.|DONATIONS|DONATIONS|AND LEGACIES|AND LEGACIES|AND LEGACIES||||||
|---|---|---|---|---|---|---|---|---|---|---|
||||||Unrestricted|||Restricted|Total|Total|
|||||||Funds||Fuiitle|Fertile|Funds|
|||||||2023||2023|2023|2022|
|||||||E||E|E||
||University|Block||Grant||1,280,505|||1,280,505|1,246,556|
||Other University|||Grants||124,184|||124,184|52,250|
||||||E|1,404,689|E|Nil|E 1,404,689 f|1,298,806|
||Comparative||donations||and legacies||||||
|||||||Unrestricted||Restricted||Tote/|
|||||||Funds||Funds||Funds|
|||||||2022||2022||2022|
||University|Block||Grant||1,246,556||||1,246,556|
||Other University|||Grants||52,250||||52,250|
||||||f|1,298,806|f|Nil||1,298,806|
|3.|INCOME|FROM||OTHER|TRADING ACTIVITIES||||||
|INCOME|FRO|M OTHER TRADING ACTIVITIES|M OTHER TRADING ACTIVITIES||||||
|---|---|---|---|---|---|---|---|---|
|||Unrestricted|||Restricted||Total|Total|
||||Furida||Funds||Funds|Funds|
||||2023||2023||2023|2022|
||||E||E||6||
|Marketing|and|sponsorship|29,459||||29,459|22,228|
|Other income||from activities|1,913||||1,913|5,111|
|||E|31,372|6|Nil|6|31,372 f|27,339|
|Comparative||income from other trading activities|||||||
||||Unrestricted||Restricted|||Total|
||||Funds||Funds|||Funds|
||||2022||2022|||2022f|
|Marketing|and|sponsorship|22,228|||||22,228|
|Otherincome||from activities|5,111|||||5,111|
|||f|27,339|f|Nil|||27,339|
##
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||||Unrestricted|Unrestricted||Restricted||Total||Total|
|---|---|---|---|---|---|---|---|---|---|---|
|||||Funds||Funds||Funds||Funds|
|||||2023
6||2023
6||2023
6||2022f|
||Interest receivable|from:|||||||||
||Bank interest|||198||||198|||
||||6|198|6|Nil|6|198|f|7|
||Comparative
investmentincome||||||||||
|||||Unrestricted||Reslncted||||Total|
|||||Funds||Funds||||Funds|
|||||2022f||2022||||2022|
||Interest receivable|fram:|||||||||
||Bankinterest||||||||||
|||||7|f'|Nil|||f|7|
|5.|INCOME FROM CHARITABLE ACTIVITIES||||||||||
||||Unrestricted|||Restricted||Total||Torsi|
|||||Funds||Funds||Funds||Funds|
|||||2023
6||2023
6||2023
6||2022f|
||Clubs and Societies|||1,900||10,518||12,418||22,578|
||NUS Extra 8 Merchandising|||33,971||||33,971||I2,414|
||||6|35,071|6|10,518|6|46,389|f|34,992|
|6.|RESOURCES EXPENDED||||||||||
|||||||Other direct||Support||Total|
|||||Staff Costs
6||costsf||costs
6||2023
6|
||Cost of charitable||||||||||
||ac0vities||||||||||
||Student Representation|||362,670||16,042||111333||490,045|
||Advice & Welfare|||217,567||675||66,786||285,028|
||Communication|&Marks||72,551||22,110||22,272||116,933|
||NUS Extra &Merchandis|||27,174||26,645||8,341||62,160|
||Student Activities|||108,783||18,414||33,393||160,590|
||Student Media||f|90,667
879,412|f|7,321
91,207|f|27,832
269,957|f|125,820
1,240,576|
##
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|Comparative
reso|urc|es exp|end|ed||||||
|---|---|---|---|---|---|---|---|---|---|
|||||||Other|dimct|Support|Total|
||||||Staff Costsf||cosfsf|costs|2022f|
|Cost ofcharitable||||||||||
|activities||||||||||
|Student Representation|||||358,793|16,989||106,533|482,315|
|Advice 5 Welfare|||||215,241||615|83,907|279,763|
|Communication|5 Markeling||||71,776||7,925|21,311|101,012|
|NUS Extra &Merchandising|||||26,883|25,376||7,982|80,241|
|Student Activities|||||107,621|32.213||31,953|171,787|
|Student Media|||||89698||8454|26633|124785|
|||||f|870,012 f|91,572 f||258,319 f|1,219,903|
|Resources expended||include:||||||||
|||||||||2023|2022|
|Auditors'
remuneration:||||||||||
|Audit fee||||||||6,542|6,500|
|Depredation||-|on|owned assets||||6,740|2,140|
|Details ofstaff costs are given|||in|Note 8.||||||
|Details ofSupport|costs is given|||in Note 7.||||||
##
|SUPPORT C|OSTS||||
|---|---|---|---|---|
||||Total|Total|
||||2023|2022|
||||6||
|Staffing remted costs|||95,069|49,435|
|Premises and office costs|||100,261|154,143|
|Governance|costs||2,698|2,081|
|Miscellaneous|||19,903|17,867|
|Legal and professional|||38,741|26,150|
|Depreciation|||6,740|2,140|
|Auditors'
audit fee|||6,542|6,500|
|||f|269,954 f|258,316|
##
##
|STAFF NUMBERS AND COSTS|STAFF NUMBERS AND COSTS|STAFF NUMBERS AND COSTS|STAFF NUMBERS AND COSTS|||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
||||||||||2023||2022|
|Wages and satanas|(Fug Time)||||||||819,923||T23,882|
|Wages and salaries|(Part Time)||||||||33,218||53,930|
|Social security costs|||||||||84,531||T5,086|
|Pension costs - current services costs|||||||||17,525||17,115|
||||||||||955,197||870,012|
|Pension costs - past|services||deficit|||||||||
|||||||||8|879,412|6|870,012|
||||||||||2023||2022|
|The average
weekly|number|ofemployees,|||head-count,||during the period|||||
|was:|||||||||Number||Number|
|Staff|||||||||28.8|||
||||||||||28.8|||
||||||||||2023||2022|
||||||||||8|||
|The cost of key management|||was|as follows:||||||||
|Sabbatical Officers|||||||||113,587||139,578|
|Senior management|||||||||194,013||201,656|
|Number ofSabbatical Officers|||||||||4||5|
|One (2022 - one) employee||received remuneration||||of more than f60,000||||||
|The accounts
include|termination|||payments|totalling|Enil|(2022 -Eng).|||||
##
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|TANGIBLE FIXEDA|SSE|TS||||
|---|---|---|---|---|---|
||||||Fixture and|
||||||fittings|
||||||6|
|Cost||||||
|At 1 July 2022|||||57,996|
|Additions|||||28,963|
|At 30June 2023|||||86,959|
|Depreciation||||||
|At1 July2022|||||55,176|
|Charge for the year|||||6,740|
|At 30June 2023|||||61,916|
|Net book value||||||
|At 30June 2023||||6|25,043|
|At 30June 2022||||||
|DEBTORS||||||
||||2023||2022|
|Due within one year|||6|||
|Trade debtors|||40,346||5,073|
|Due from Middlesex|Univennty||27,674||33,413|
|Prepayments|||13,116||11,240|
|Other debtors|||5,254||3,202|
|||6|86,390|5|52928|
|CREDITORS: AMOUNTS||FALLING DUE WITHIN ONE YEAR||||
||||2023||2022|
||||6|||
|Trade creditors|||37,819||2,800|
|Deferred income|||20,250||3,750|
|Other creditors|||2,177||2,099|
|VAT creditors|||(48)||2,106|
|Pension costs - Past|Service Deficit||158,748||155,240|
|Accruals|||10,657||7,462|
|||6|229,603||174,457|
##
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|||||||2023|2022|
|---|---|---|---|---|---|---|---|
|||||||6||
|Pension|costs|- Past|Service|Deficit||1,923,363|2,159,715|
||||||6|1,923,363|2,159,715|
##
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|16.ANALYSIS OF NET ASSETS BETWEEN FUNDS|16.ANALYSIS OF NET ASSETS BETWEEN FUNDS|||||
|---|---|---|---|---|---|
||Unrestricted||Funds|||
||Designated||General|Restricted|Total|
||Funds||Funds|Funds|Funds|
||6||6|6|6|
|Tangible lixed assets|||25,043||25,043|
|Net current assets|(2,082,111)|2,149,553||40,665|108,107|
|Creditors due in more than one year||(1,923,363)|||(1,923,363)|
|Comparative
analysis ofnet assets between|funds|||||
||Unresadcted||Funds|||
||Designated||General|Restricted|Tots/|
||Funds
f||Funds
f|Fundsf|Fundsf|
|Tangible fixed assets|||2,820||2,820|
|Net current assets|(2,315,955)|2,399,984||40,583|124,610|
|Creditors due in more than one year||(2,150,716)|||(2,159,716)|
##
|17 COMPARATIVE STATEME|NT OF FINANCIAL|ACTIVITIES|||
|---|---|---|---|---|
|||Unrestricted|Restricted|Total|
|||Funds|Funds|Funds|
|||2022|2022|2022|
|INCOME AND ENDOWMENTS|FROM:||||
|Donations
and legacies||1,298,805||1,298,805|
|Charitable
activities||12,724|22268|34,992|
|Other trading
activities||27,339||27,339|
|Investments||7||7|
|TOTAL||1,338,875|22268|1,361,143|
|EXPENDITURE ON:|||||
|Charitable
activities||1,202,459|17,444|1,219,903|
|Net Income/Expenditure||136,416|4,824|141,240|
|NET MOVEMENT
IN FUNDS||136,416|4,824|141,240|
|TOTAL FUNDS AT 30JUNE 2021||(2,209,285)|35,760|(2,173,525)|
|TOTAL FUNDS AT 30JUNE 2022||~82022,805 f|40584|~82082285|