2023-07-31-accounts - The Students' Union At Bu Ltd

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Reference and administrative details	Reference and administrative details		ofthe Charity,	Page
Trustees' report				2-11
Independent	auditors' report on the	financial statements		12-15
Consolidated	statement offinancial	activities		16
Consolidated	income and expenditure		account	17
Consolidated	balance sheet
				18 - 19
Charity balance sheet				20-21
Consolidated	statement ofcash flows			22
Notes to the	financial statements			23-47

		r
		THE STUDENTS' UNION AT BU LTD
		(A company gmlted by guarantee)
REFERENCE AND		ADMINISTRATIVE DETAILS OF THE CHARITY, ITSTRUSTEES AND ADVISERS
		FOR THE YEAR ENDED 31 JULY 2023
Trustees		C Cannon, External Trustee
		M James, External Trustee
		N Thompson, External Trustee (appointed 15August 2022)
		M Ealing, External Trustee (appointed 15August 2022, resigned 30January 2024) S Mcculloch, External Trustee (appointed 1 June 2023) S Omoha, External Trustee (resigned 23 January 2023) 0Ayomoto, Sabbatical Trustee (resigned 14 July 2023)
		C A Dike, Sabbatical Trustee
		N V Deka, Sabbatical Trustee
		H Tyack, Sabbatical Trustee (appointed 17July 2023)
		F Farha, Sabbatical Trustee (appointed 17July 2023)
		FAsafu-Ad)aye, Sabbatical Trustee (resigned 16June 2023)
		G Forester, Student Trustee (resigned 31 August 2023)
		K Khan, Student Trustee (resigned 31 August 2023)
		BYoung, Student Trustee (appointed 1 September 2023) 0Aikohi, Student Trustee (appointed 1 September 2023) L0Grace, Student Trustee 0 Lawalson (appointed 1 September 2023)
		D Harvey (appointed 1 February 2024)
		A Yafele (appointed 1 February 2024)
		M Longdon (appointed 1 February 2024, resigned 27 February 2024)
Company	registered
number		12592489
Charity registered
number		1189548
Registered	office	The Student Centre
		Boumemouth University
		Poole
		BH12 5BB
Senior Management		SLeahy Harland, CEO (resigned 28/02/2024)
		H West, Interim CEO (appointed 01/03/2024) J Harris, Head of Operations and Governance
		M Koseva, Head of Strategy and Development
		D Scriven, Head of Finance (resigned 30/06/2023) J Raggett, Interim Head of Finance (appointed 01/07/2023)
Independent	auditors	Griffin
		Chartered Accountants
		Courtenay House
		Pynes Hill
		Exeter
		EX2 5AZ

						As restated
			Restricted	Unrestricted	Total	Total
			funds	funds	funds	funds
			2023	2023	2023	2022
		Note		6	6	8
Income from:
Donations and legacies				1,684,207	1,684,207	1,646,885
Charitable activities				1,224,895	1,224,895	1,053,304
Other trading activities				1,346,635	1,346,635	1,568,125
Investments				590	590	25
Other income				23,882	23,882
Total income				4,280,209	4,280,209	4,268,339
Expenditure on:
Raising funds		9		1,311,206	1,311,206	1,088,376
Charitable activities		10	3,464	2,948,714	2,952,178	2,524,885
Total expenditure			3,464	4,259,920	4,263,384	3,613,261
Net (expenditure)/income			(3,464)	20,289	16,825	655,078
Transfers between	funds	22	122,354	(122,354)
Net movement In funds			118,890	(102,065)	16,825	655,078
Reconciliation offunds:
Total funds brought	forward		(938,462)	1,051,508	113,046	(542,032)
Net movement in funds			118,890	(102,065)	16,825	655,078
Total funds carried	forward		(819,572)	949,443	129,871	113,046

					As restated
				Total funds	Total funds
				2023	2022
Gross income in the reporting period Less: Total expenditure			Note	8 4,280,209 (4,263,384)	4,268,339 (3,613,261)
Net income/(expenditure)	for the reporting	period		16,825	655,076
The notes on pages 23 to	47 form part ofthese financial statements.

					CONSOLIDATED	CONSOLIDATED	BALANCE	SHEET
						AS AT 31	JULY 2023
										As restated
								2023		2022
						Note		8
Fixed assets
Tangible assets						14		117,083		19,104
								117,083		19,104
Current assets
Stocks						16	76,596		71,911
Debtors						17	305,887		134,351
Cash at bank and	in hand						705,212		1,273,328
							1,087,695		1,479,590
Creditors: amounts	falling		due within		one
year						18	(233,034)		(414,440)
Net current assets								854,661		1,065,150
Total assets less	current		liabilities					971,744		1,084,254
Creditors; amounts	falling		due after		more
than one year						19		(22,301)		(32,746)
Net assets excluding		pension		liability				949,443		1,051,508
Defined benefit pension scheme				liability		28		(819,572)		(938,462)
Total net assets								129,871		113,046
Charity funds
Restricted funds:
Restricted funds excluding			pension asset			22
Pension reserve						22	(819,572)		(938,462)
Total restricted funds						22		(819,572)		(938,462)
Unrestricted funds						22		949,443		1,051,508
Total funds								129,871		113,046

					As restated
				2023	2022
Cash flows from operating	activities
Net cash used in operating	activities			(325,375)	801,986
Cash flows from investing	activities
Dividends, interests and rents from investments				2,676	25
Purchase oftangible fixed assets				(126,527)	(4,644)
Defined benefit pension liability movement				(118,890)	(170,776)
Net cash used in investing	activities			(242,741)	(175,395)
Cash flows from financing	activities
Net cash provided by financing activities
Change in cash and cash	equivalents in	the year		(568,116)	626,591
Cash and cash equivalents	at the beginning	ofthe year		1,273,328	646,737
Cash and cash equivalents	at the end of	the year		705,212	1,273,328
The notes on pages 23 to 47 form part ofthese financial			statements

	Unrestricted	Total
	funds	funds
	2023	2023f
Donations	494,207	494,207
Grants	1,190,000	1,190,000
	1,684,207	1,684,207
	As restated	As restated
	Unrestricted	Total
	funds	funds
	2022f	2022
Donations	456,885	456,885
Grants	1,190,000	1,190,000
	1,646,885	1,646,885

		Unrestricted	Total
		funds	funds
		2023	2023f
Bar, Shop	and Cafe income	1,137,086	1,137,086
Marketing	income	75,612	75,612
Sundry income		12,197	12,197
		1,224,895	1,224,895
		Unrestricted	Total
		funds	funds
		2022f	2022f
Bar, Shop	and Cafe income	965,718	965,718
Marketing	income	55,191	55,191
Sundry income		32,395	32,395
		1,053,304	1,053,304

		Unrestricted	Total
		funds	funds
		2023f	2023f
Trading	activities	1,346,635	1,346,635

						As restated	As restated
						Unrestricted	Total
						funds	funds
						2022f	2022f
	Trading	activities				1,438, 125	1,438,125
	Grants					130,000	130,000
						1,568,125	1,568,125
7.	Investment		income
						Unrestricted	Total
						funds	funds
						2023	2023
						6	F
	Investment		income			590	590
						Unrestricted	Total
						funds	funds
						2022	2022
						6
	Investment		income			25	25
8.	Other	incoming		resources
					Unrestricted	Total	Total
					funds	funds	funds
					2023	2023 6	2022f
	Other operating			income	23,882	23,882

		Unrestricted	Total
		funds	funds
		2023	2023
		F
Bar operating	costs	937,784	937,784
Wages and salaries		354,041	354,041
		1,291,825	1,291,825

			Unrestricted	Total
			funds	funds
			2022f	2022 6
Bar operating	costs		801,041	801,041
Wages and salaries			287,335	287,335
			1,088,376	1,088,376
Other trading	expenses
		Unrestricted	Total	Total
		funds	funds	funds
		2023f	2023 5	2022
Administration	depreciation	19,381	19,381

	Activities
	undertaken	Support	Total
	directly	costs	funds
	2023 F	2023 6	2023f
Student services	550,819	1,428,477	1,979,296
Shop and bar	555,813	359,133	914,946
Marketing	57,936		57,936
	1,164,568	1,787,610	2,952,178

	Activities
	undertaken	Support	Total
	directly	costs	funds
	2022f	2022	2022f
Student services	1,020,774	561,408	1,582,182
Shop and bar	528,531	360,239	888,770
Marketing	53,933		53,933
	1,603,238	921,647	2,524,885

			Student	Shop and	Total
			services	bars	funds
			2023f	2023f	2023f
Staff costs			1,014,481		1,014,481
Depreciation				19,876	19,876
Insurance			43,872		43,872
Office costs			21,355		21,355
Rent and overheads			157,950	336,257	494,207
Bad debt provision				3,000	3,000
Repairs and	renewals		28,692		28,692
Other staff costs			60,071		60,071
Legal and professional		fees	61,472		61,472
Governance	costs		40,584		40,584
			1,428,477	359,133	1,787,610
			Student	Shop and	Total
			services	bars	funds
			2022f	2022f	2022f
Staff costs			327,610	22,920	350,530
Depreciation				20,791	20,791
Insurance			11,649		11,649
Office costs			12,330		12,330
Rent and overheads			140,357	316,528	456,885
Governance	costs		69,462		69,462
			561,408	360,239	921,647

				2023	2022
				6	8
Fees payable	to the Charity's	auditor for the audit ofthe Charity's	annual
accounts				8,250	11,115

				Group	Group	Charity	Charity
				2023	2022f	2023	2022
Wages	and	salaries		1,587,959	1,445,952	1,233,918	1,158,617
Social security costs				90,534	89,250	90,534	89,250
Contribution		to pension schemes		53,138	(22,729)	53,138	(22,729)
			1,731,631		1,512,473	1,377,590	1,225,138
Included	within staff costs are redundancy		payments	offNil (2022	- 67,511)

	Group	Group	Charity	Charity
	2023	2022	2023	2022
	No.	No.	No.	No.
Student Services	42	41	42	41
Shop and bars	250	282	24	26
	292	323	66	67

Group	Group
2023	2022
No.	No.

				2023
				6
F	Asafu-Adjaye	Remuneration		21,187
		Pension contributions	paid	412
N	V Deka	Remuneration		23,845
		Pension contributions	paid	486
C	A Dike	Remuneration		24,032
		Pension contributions	paid	485
0	Ayomoto	Remuneration		23,050
		Pension contributions	paid	504

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		THE STUDENTS' UNION AT BU LTD
		(Acompany	limited	by guarantee)
		NOTES TO THE	FINANCIAL STATEMENTS
		FOR THE YEAR ENDED 31JULY 2023
14.	Tangible fixed assets
	Group
				Fixtures and
				fittingsf
	Cost or valuation
	At 1 August 2022			757,289
	Additions			126,527
	At 31 July 2023			883,816
	Depreciation
	At 1 August 2022			738,185
	Charge for the year			28,548
	At 31 July 2023			766,733
	Net book value
	At 31 July 2023			117,083
	At 31Ju/y 2022			19,104

			Group	Group	Charity	Charity
			2023f	2022	2023f	2022f
Due within one year
Trade debtors			156,808	37,606	151,829	21,367
Amounts owed	by group undertakings				546,053	996,450
Other debtors			88,519	63,108	88,519	53,108
Prepayments and accrued income			60,560	33,637	53,874	32,475
			305,887	134,351	840,275	1,103,400
Creditors: Amounts		falling due within one year
			Group	Group	Charity	Charity
			2023	2022f	2023f	2022f
Bank overdrafts				4,373		4,373
Bank loans			9,962	9,754
Trade creditors			126,883	107,345	96,527	75,901
Corporation tax			260	260
Other taxation	and social security		24,424	209,937	24,424	102,412
Other creditors			11,390	49,039	11,390	39,685
Accruals and deferred		income	60,115	33,732	31,184	19,151
			233,034	414,440	163,525	241,522

Group	Group
2023f	2022
22,301	32,745

			Group	Group	Charity	Charily
			2023 6	2022	2023	2022f
Resources	deferred	during the year	14,586		14,586
Deferred	income at	31July 2023	14,586		14,586

		Balance at 1			Transfers	Balance at
		August 2022 F	Income	Expendituref	in/out	31July 2023
Unrestricted funds
General Funds		1,051,508	4,280,209	(4,259,920)	(122,354)	949,443
Restricted funds
Pension reserve		(938,462)		(3,464)	122,354	(819,572)
Total offunds		113,046	4,280,209	(4,263,384)		129,871
Statement offunds	-prior year
			Balance at
			1August	As restated	As restated	Balance at
			2021 f	Income f	Expenditure f	31Ju/y 2022 f
Unrestricted funds
General Funds			567,206	4,268,339	(3,764,037)	1,051,508
Restricted funds
Pension reserve			(1,109,238)		170,776	(938,462)
Total offunds			(542,032)	4,268,339	(3,613,261)	113,046

				Balance at 1			Transfers	Balance at
				August 2022	Income	Expenditure	in/out f	31July 2023 f
	General	funds		1,051,508	4,280,209	(4,259,920)	(122,354)	949,443
	Restricted funds			(938,462)		(3,464)	122,354	(819,572)
				113,046	4,280,209	(4,263,384)		129,871
	Summary offunds - prior year
					Balance at
					1August	As restated	As restated	Be(ance et
					2021f	Income f	Expenditure f	31Ju/y 2022 f
	General	funds			567,206	4,268,339	(3,784,037)	1,051,508
	Restricted funds				(1,109,238)		170,776	(936,462)
					(542,032)	4,268,339	(3,613,261)	113,046
24.	Analysis	of net assets between		funds
	Analysis	of net assets between		funds -current	year
						Restricted	Unrestricted	Total
						funds	funds	funds
						2023 f	2023 f	2023 F
	Tangible	fixed	assets				117,083	117,083
	Current assets						1,087,695	1,087,695
	Creditors	due within one year					(233,034)	(233,034)
	Creditors	due	in more than one year				(22,301)	(22,301)
	Provisions	for	liabilities and charges			(619,572)		(819,572)
	Total					(819,572)	949,443	129,871

Analysis	of net asset	ar
		Restricted	Unrestricted	Total
		funds	funds	funds
		2022	2022f	2022f
Tangible	fixed assets		19,104	19,104
Current assets			1,479,590	1,479,590
Creditors Creditors Provisions	due within one year due in more than one year for liabilities and charges	(938,462)	(414,440) (32,746)	(414,440) (32,746) (938,462)
Total		(938,462)	1,051,508	113,046

					Group	Group
					2023f	2022f
Net income for the	year (as per Statement		of Financial	Activities)	16,825	655,076
Adjustments for:
Depreciation charges Dividends, interests and rents from investments Decrease/(increase) in stocks Increase in debtors Increase/(decrease) in creditors					28,548 (2,676) (4,685) (262,839) (100,548)	20,791 (25) 8,606 (15,680) 133,216
Net cash provided	by/(used	in) operating	activities		(325,375)	801,986

		Group	Group
		2023 6	2022f
Cash	in hand	705,212	f,273,328
Total	cash and cash equivalents	705,212	1,273,328

				At 1 August 2022	Cash flows	At 31July 2023
					6
Cash Bank	at bank and in hand overdrafts repayable		on demand	1,273,328 (4,373)	(568,116) 4,373	705,212
Debt Debt	due within due after	1 year 1 year		(9,754) (32,746)	(208) 10,445	(9,962) (22,301)
				1,226,455	(553,506)	672,949

				NOTES TO THE FINANCIAL STATEMENTS	NOTES TO THE FINANCIAL STATEMENTS	NOTES TO THE FINANCIAL STATEMENTS
				FOR THE YEAR	ENDED 31 JULY	2023
28.	Pension	commitments		(continued)
	Movements		in the present value ofthe defined		benefit obligation	were as follows:
							2023
	Opening	defined benefit		obligation			1,670,884
	Actuarial	movements					3,464
	Closing	defined benefit		obligation			1,674,348
	Movements		in the fair value ofthe Group's share ofscheme assets were as follows:
							2023
	Opening	fair	value ofscheme assets				732,422
	Contributions		by employer				122,354
	Closing	fair	value ofscheme assets				854,776