**Charity registration number 1190990**
# **VAN MILDERT COLLEGE JUNIOR COMMON ROOM ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2022**
## **VAN MILDERT COLLEGE JUNIOR COMMON ROOM**
## **LEGAL AND ADMINISTRATIVE INFORMATION**
|**Trustees**|S Murphy|(Appointed 1 February 2022)|
|---|---|---|
||C Goggin|(Appointed 28 April 2023)|
||M Sharples|(Appointed 1 August 2022)|
||H Bashford|(Appointed 1 August 2022)|
||P Brunger||
||H Starmer||
||S Williams||
||S Hook||
||Dr C Redhead||
||T Collis||
||F Reilly||
||I Ali||
|**Charity number**|1190990||
|**Principal address**|Van Mildert College||
||Mill Hill Lane||
||Durham||
||United Kingdom||
||DH1 3LH||
|**Independent examiner**|Azets||
||Bede House||
||Belmont Business Park||
||DURHAM||
||United Kingdom||
||DH1 1TW||
## **VAN MILDERT COLLEGE JUNIOR COMMON ROOM**
## **CONTENTS**
||**Page**|
|---|---|
|Trustees' report|1 - 4|
|Independent examiner's report|5|
|Statement of financial activities|6|
|Balance sheet|7|
|Notes to the financial statements|8 - 14|
## **VAN MILDERT COLLEGE JUNIOR COMMON ROOM**
## **TRUSTEES' REPORT** _**FOR THE YEAR ENDED 31 JULY 2022**_
The trustees present their annual report and financial statements for the year ended 31 July 2022.
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 JCR's governing document, 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 (FRS 102)" (effective 1 January 2019).
## **Objectives and activities**
As set out in its governing document, the object of Van Mildert College Junior Common Room (henceforth ‘JCR’) is the advancement of education of students at Van Mildert College for the public benefit by:
- promoting the interests and welfare of Students at Van Mildert College during the course of their studies and representing, supporting and advising students;
- being the recognised representative channel between Students and Van Mildert College and any other external bodies;
- providing social, sporting, cultural and recreational activities and forums for discussions and debate for the personal development of its students.
The trustees of the JCR have had regard to the Charity Commission’s guidance on public benefit. The JCR has been run for the public benefit and satisfies both the ‘benefit’ and ‘public’ aspects; our objects are beneficial, and for a sufficient section of the public. There has been no personal benefit gained from the JCR, with the exception of the employment of two of the trustees by Durham University as outlined above. This is essential in the carrying out of the charitable purpose and is outlined in the governing document for when they will be employed by Van Mildert College JCR.
This is the second registered term of the Van Mildert College JCR since becoming a charitable incorporated organisation on the 24th of August 2020. This has continued to be a transitional period for the charity as we begin to adjust to our operations and college environment post pandemic. The main activities undertaken during the reporting period were therefore set around reengaging and establishing the charity's aims and objectives within the college community to ensure that the JCR be in a strong and sound financial position moving forward. These activities include:
- Facilitating and overseeing the management of sports, societies, committees and outreach and the involvement of college students
- To put on and organise a wide range of events for the students and members of Van Mildert College JCR.
- To represent the interests of the students to the college and wider university.
- To support the interests and welfare of the students of Van Mildert College.
In addition to the trustees, a significant number of students and members of Van Mildert College JCR volunteer their time, providing significant opportunities for personal and professional development.
The number of student volunteers has increased significantly since the last reporting period as students have taken on roles to lead certain areas of the JCR and more students becoming engaged with the charity post pandemic.
Two of the charities trustees were employees of the University (the predecessor body) - the JCR President and the JCR Financial and Commercial Services Officer (FACSO) - and spend approximately ⅙ of their contracted hours on the governance of the charity and the representation of its students.
- 1 -
## **VAN MILDERT COLLEGE JUNIOR COMMON ROOM**
## **TRUSTEES' REPORT (CONTINUED)** _**FOR THE YEAR ENDED 31 JULY 2022**_
## **Achievements and performance**
As already mentioned, this is the second reporting period of Van Mildert College JCR. A great deal has been achieved in the JCR within this reporting period. As by our charitable obejctvies, the JCR has kept the interest of our beneficiaries, the students, at the forefront of our activities and operations. Throughout the reporting period, students have been represented at both college and wider university level on a range of issues including but not limited to; the Durham student housing crisis, cost of living crisis and changes to university operations post pandemic.
The JCR strives to support its students; most notably through our continued work of talk and support; a nonjudgement listening and signposting service available to all members of Van Mildert College.
The JCR has also worked to continue to offer a variety of opportunities for the personal development of its students. This has been achieved through the running and organising of events, community initiatives and a variety of other activities that have taken place across the reporting period. The JCR worked to provide opportunities for its students to involve themselves in the operations and organisation of these events and initiatives through the recruitment of student volunteers. These volunteers take on a variety of roles; as part of events committees, society executives and outreach volunteers - all of which further contribute to their personal and professional development.
Some of the JCR’s initiatives have already benefited a wider breadth of the public than our students. Most notably, our five outreach projects. For example, the largest of our five outreach projects, the Young Persons Project (YPP), saw student volunteers engaging with local schools helping to develop the young people's prospects. Additionally, both the Primary School Project (PSP) and the Community Visiting Scheme (CVS), saw students entering the local community working with primary school children and elderly residents respectively. Within the outreach stream of the JCR, provisions are in place to further our outreach initiatives with the development of future projects.
## **Financial review**
At the end of the reporting period, the JCR had £26,013.68 in the bank. Although the JCR’s predecessor body has made small donations in this reporting period, we anticipate the transferral of assets in the next reporting period, so there is no doubt that the JCR will be in a strong financial position going forward.
The JCR has sufficient funds to continue its core activities and the trustees see no reason to anticipate a significant loss of income in the next financial year so long as JCR levy uptake, the JCR’s main source of income remains at a similar level for years to come.
It is the policy of the JCR that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to between three and six month’s expenditure. The trustees consider that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the JCR’s current activities while consideration is given to ways in which additional funds may be raised.
## **Structure, governance and management**
The JCR is a charitable incorporated organisation, registered on 24th August 2020 and governed by the Van Mildert College JCR Constitution.
- 2 -
## **VAN MILDERT COLLEGE JUNIOR COMMON ROOM**
## **TRUSTEES' REPORT (CONTINUED)** _**FOR THE YEAR ENDED 31 JULY 2022**_
|The trustees who served during the year and up to the date of signature of the financial statements were:|The trustees who served during the year and up to the date of signature of the financial statements were:|
|---|---|
|A Hargeaves-McManus|(Resigned 31 July 2022)|
|L Egan|(Resigned 31 July 2022)|
|S Murphy|(Appointed 1 February 2022)|
|C Goggin|(Appointed 28 April 2023)|
|M Sharples|(Appointed 1 August 2022)|
|H Bashford|(Appointed 1 August 2022)|
|P Brunger||
|H Starmer||
|S Williams||
|S Hook||
|Dr C Redhead||
|T Collis||
|F Reilly||
|I Ali||
As stated in its constitution, the JCR should have not less than two nor more than six appointed trustees; not less than two nor more than four nominated trustees; and the two ex-officio trustees, the sabbatical officers. There must be at least four trustees, of which two must be appointed and of which two must be either ex-officio or nominated. The ex-officio trustees are the JCR President and the JCR FACSO, and the nominated trustees refer to those nominated by the Van Mildert College Junior Common Room Students’ Union. The appointed trustees are appointed for a term of years, and the nominated trustees are nominated on an annual basis.
The JCR, during the reporting period, had 10 registered trustees whose composition consisted of 6 external trustees (appointed in February 2020) and who remained in post until the end of the reporting period. 2 nominated student trustees took over from the previously nominated trustees, beginning their term on the 1st February 2022 and serving until the end of the reporting period. The same individuals served as JCR President and JCR FACSO as in the previous reporting period and so also remained as trustees, ending their tenure at the close of the reporting period. Both roles have been appointed with a successor to commence their roles at the start of the next reporting period.
None of the trustees have any beneficial interest in the company. All of the trustees are members of the company and guarantee to contribute £1 in the event of winding up.
The day-to-day management of the JCR lies with the Van Mildert College Junior Common Room Students Union’s Executive Committee, which is made up of elected students. This Executive Committee meets at least twice a term, and various other committees sit under them such as Treasury, Ball, Outreach, Governance, Shop, and so on. Under the charity’s constitution lies the permanent and operational standing orders of the Van Mildert College Junior Common Room Students Union, and a list of committees, job descriptions and ratified clubs and societies. These dictate the operations of the JCR, and any changes to these must be voted on by the charity’s trustees, the Executive Committee, the Governance Committee, and then the Van Mildert College Junior Common Room Students’ Union at large.
When new trustees are appointed or elected, they are sent a copy of the charity’s governing document, a copy of the latest trustees’ annual report and a statement of accounts, and their attention is drawn to Charity Commission guidance online.
Our beneficiaries are the students of Van Mildert College, Durham University; so, our object insists that we have a close relationship with Durham University. There exists a Service Level Agreement between the two parties which allows for the JCR to operate within property owned by the University, for health and safety requirements to be met, data to be shared, and so on.
- 3 -
## **VAN MILDERT COLLEGE JUNIOR COMMON ROOM**
## **TRUSTEES' REPORT (CONTINUED)** _**FOR THE YEAR ENDED 31 JULY 2022**_
The Trustees' report was approved by the Board of Trustees.
M Sharples **Trustee**
31 May 2023
- 4 -
## **VAN MILDERT COLLEGE JUNIOR COMMON ROOM**
## **INDEPENDENT EXAMINER'S REPORT**
## **TO THE TRUSTEES OF VAN MILDERT COLLEGE JUNIOR COMMON ROOM**
I report to the trustees on my examination of the financial statements of Van Mildert College Junior Common Room (the JCR) for the year ended 31 July 2022.
## **Responsibilities and basis of report**
As the trustees of the JCR you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (the 2011 Act).
I report in respect of my examination of the JCR’s financial statements carried out under section 145 of the 2011 Act. In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
## **Independent examiner's statement**
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
- 1 accounting records were not kept in respect of the JCR as required by section 130 of the 2011 Act; or
- 2 the financial statements do not accord with those records; or
- 3 the financial statements do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached.
Joanne Regan (FCA) **Azets Audit Services**
Bede House Belmont Business Park DURHAM DH1 1TW United Kingdom
31/05/2023 Dated: .........................
- 5 -
## **VAN MILDERT COLLEGE JUNIOR COMMON ROOM**
## **STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT**
## _**FOR THE YEAR ENDED 31 JULY 2022**_
|**Unrestricted**
**Restricted**
**funds**
**funds**
**2022**
**2022**
**Notes**
**£**
**£**
**Income from:**
Donations and legacies
**2**
13,132
-
Charitable activities
**3**
146,205
5,645
Other trading activities
**4**
6,353
-
Investments
**5**
6
-
**Total income**
165,696
5,645
**Expenditure on:**
Trading activities
**6**
7,760
-
Charitable activities
Activities undertaken directly
**7**
162,068
5,645
Support costs
**7**
8,396
-
**Total charitable expenditure**
170,464
5,645
**Total expenditure**
178,224
5,645
**Net (expenditure)/income for the year/**
**Net movement in funds**
(12,528)
-
Fund balances at 1 August 2021
16,646
-
**Fund balances at 31 July 2022**
4,118
-|**Total Unrestricted**
**funds**
**2022**
**2021**
**£**
**£**
13,132
8,516
151,850
15,474
6,353
-
6
-
171,341
23,990
7,760
-
167,713
852
8,396
6,492
176,109
7,344
183,869
7,344
(12,528)
16,646
16,646
-
4,118
16,646|**Total Unrestricted**
**funds**
**2022**
**2021**
**£**
**£**
13,132
8,516
151,850
15,474
6,353
-
6
-
171,341
23,990
7,760
-
167,713
852
8,396
6,492
176,109
7,344
183,869
7,344
(12,528)
16,646
16,646
-
4,118
16,646|
|---|---|---|
|||23,990|
|||-|
|||852
6,492|
|||7,344|
|||7,344|
|||16,646
-|
|||16,646|
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing activities.
- 6 -
## **VAN MILDERT COLLEGE JUNIOR COMMON ROOM**
## **BALANCE SHEET**
## _**AS AT 31 JULY 2022**_
|**2022**
**Notes**
**£**
**Fixed assets**
Tangible assets
**10**
**Current assets**
Debtors
**11**
1,410
Cash at bank and in hand
26,154
27,564
**Creditors: amounts falling due within**
**one year**
**12**
(26,134)
Net current assets
**Total assets less current liabilities**
**Creditors: amounts falling due after**
**more than one year**
**13**
**Net assets**
**Income funds**
Unrestricted funds|**2021**
**£**
**£**
**£**
4,781
-
-
49,428
49,428
(15,474)
1,430
33,954
6,211
33,954
(2,093)
(17,308)
4,118
16,646
4,118
16,646
4,118
16,646|
|---|---|
The financial statements were approved by the Trustees on 31 May 2023
M Sharples **Trustee**
- 7 -
## **VAN MILDERT COLLEGE JUNIOR COMMON ROOM**
## **NOTES TO THE FINANCIAL STATEMENTS** _**FOR THE YEAR ENDED 31 JULY 2022**_
## **1 Accounting policies**
## **Charity information**
Van Mildert College Junior Common Room is a charitable incorporated organisation, registered on 24th August 2020 and governed by the Van Mildert College JCR Constitution.
## **1.1 Accounting convention**
The financial statements have been prepared in accordance with the JCR's Constitution, the Charities Act 2011, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "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 (FRS 102)" (effective 1 January 2019). The JCR is a Public Benefit Entity as defined by FRS 102.
The JCR has taken advantage of the provisions in the SORP for charities not to prepare a Statement of Cash Flows.
The financial statements are prepared in sterling, which is the functional currency of the JCR. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
## **1.2 Going concern**
At the time of approving the financial statements, the trustees have a reasonable expectation that the JCR 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.
## **1.3 Charitable funds**
Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.
Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.
Endowment funds are subject to specific conditions by donors that the capital must be maintained by the JCR.
## **1.4 Income**
Income is recognised when the JCR is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.
Cash donations are recognised on receipt. Other donations are recognised once the JCR 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.
Donated services and facilities are included in the SOFA when received at the value of the gift to the charity provided the value of the gift can be measured reliably.
Donated services and facilities that are consumed immediately are recognised as income with an equivalent amount recognised as an expense under the appropriate heading in the SOFA.
Membership subscriptions which gives a member the right to buy services or other benefits are recognised as income earned from the provision of goods and services as income from charitable activities.
- 8 -
## **VAN MILDERT COLLEGE JUNIOR COMMON ROOM**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 JULY 2022**_
## **1 Accounting policies**
**(Continued)**
## **1.5 Expenditure**
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably.
Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.
## **1.6 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 over their useful lives on the following bases:
Fixtures and fittings 20% on cost Musical instruments 25% on cost
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 the statement of financial activities.
## **1.7 Impairment of fixed assets**
At each reporting end date, the JCR reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).
## **1.8 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.
## **1.9 Financial instruments**
The JCR 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 JCR's balance sheet when the JCR 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.
- 9 -
**VAN MILDERT COLLEGE JUNIOR COMMON ROOM**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 JULY 2022**_
## **1 Accounting policies**
## **(Continued)**
## _**Derecognition of financial assets**_
Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the JCR transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.
## _**Basic financial liabilities**_
Basic financial liabilities, including creditors and bank loans 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 JCR’s contractual obligations expire or are discharged or cancelled.
## **2 Donations and legacies**
||**Unrestricted**|Unrestricted|
|---|---|---|
||**funds**|funds|
||**2022**|2021|
||**£**|£|
|Donations and gifts|12,782|2,000|
|Grants received|350|-|
|Donated goods and services|-|6,516|
||13,132|8,516|
- 10 -
## **VAN MILDERT COLLEGE JUNIOR COMMON ROOM**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 JULY 2022**_
## **3 Charitable activities**
|||**Charitable**|**Charitable**|**Charitable**|**Charitable**|
|---|---|---|---|---|---|
|||**Income**||**Income**||
|||**2022**||**2021**||
|||**£**||**£**||
||Membership levies|21,667||15,474||
||Social event income|123,577||-||
||Sports and societies subsciptions|6,540||-||
||Other income|66||-||
|||151,850||15,474||
||Analysis by fund|||||
||Unrestricted funds|146,205||15,474||
||Restricted funds|5,645||-||
|||151,850||15,474||
|**4**|**Other trading activities**|||||
|||**Unrestricted**||Total||
|||**funds**||||
|||**2022**||2021||
|||**£**||£||
||Shop and stash income|5,106||-||
||Income from hire of equipment|1,247||-||
||Other trading activities|6,353||-||
|**5**|**Investments**|||||
|||**Unrestricted**||Total||
|||**funds**||||
|||**2022**||2021||
|||**£**||£||
||Interest receivable|6||-||
- 11 -
## **VAN MILDERT COLLEGE JUNIOR COMMON ROOM**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 JULY 2022**_
## **6 Trading activities**
|**Unrestricted**
**funds**
**2022**
**£**
Trading costs
Shop and stash expenses
7,760
7,760|Total
2021
£
-|
|---|---|
||-|
## **7 Charitable activities**
|**Activities**
**undertaken**
**directly**
**2022**
**£**
Staff costs
-
Depreciation and
impairment
435
Card fees
2,570
Computer costs
4,921
Repairs and maintenance
11,458
Insurance
-
Printing, postage and
stationery
665
Donations
5,645
Event costs
132,888
Sports costs
6,134
Accountancy
-
Independent examiner's fee
-
Sundry expenses
2,997
167,713
167,713
**Analysis by fund**
Unrestricted funds
162,068
Restricted funds
5,645
167,713|**Support**
**costs**
**2022**
**£**
-
-
-
466
-
3,430
-
-
-
-
2,500
2,000
-
8,396
8,396
8,396
-
8,396|**Total**
**2022**
**Activities**
**undertaken**
**directly**
**2021**
**£**
**£**
-
-
435
-
2,570
772
5,387
24
11,458
-
3,430
-
665
-
5,645
-
132,888
-
6,134
-
2,500
-
2,000
-
2,997
56
176,109
852
176,109
852
170,464
852
5,645
-
176,109
852|**Support**
**costs**
**2021**
**£**
6,492
-
-
-
-
-
-
-
-
-
-
-
-
6,492
6,492
6,492
-
6,492|**Total**
**2021**
**£**
6,492
-
772
24
-
-
-
-
-
-
-
-
56|
|---|---|---|---|---|
|||||7,344|
|||||7,344|
|||||7,344
-|
|||||7,344|
- 12 -
**VAN MILDERT COLLEGE JUNIOR COMMON ROOM**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 JULY 2022**_
## **8 Trustees**
None of the trustees (or any persons connected with them) received any remuneration or benefits from the JCR during the year.
## **9 Employees**
The charity had no employees during the reporting year. In the prior period two of trustees, who were employed by Durham University as sabbatical officers of the predecessor body of the charity, were involved in establishing the JCR and acted as key management personnel. In 2021 £6,492 was included in staff costs and donation income on the basis of paid time spent on the JCR.
## **10 Tangible fixed assets**
|**Fixtures and**
**fittings**
**Musical**
**instruments**
**£**
**£**
**Cost**
Additions
2,389
2,827
At 31 July 2022
2,389
2,827
**Depreciation and impairment**
Depreciation charged in the year
199
236
At 31 July 2022
199
236
**Carrying amount**
At 31 July 2022
2,190
2,591
**11**
**Debtors**
**2022**
**Amounts falling due within one year:**
**£**
Trade debtors
567
Prepayments and accrued income
843
1,410
**12**
**Creditors: amounts falling due within one year**
**2022**
**Notes**
**£**
Other taxation and social security
204
Deferred income
**14**
15,629
Trade creditors
156
Accruals
10,145
26,134|**Total**
**£**
5,216|
|---|---|
||5,216|
||435|
||435|
||4,781|
||**2021**
**£**
-
-|
||-|
||**2021**
**£**
-
15,474
-
-|
||15,474|
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## **VAN MILDERT COLLEGE JUNIOR COMMON ROOM**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 JULY 2022**_
|**13**
**Creditors: amounts falling due after more than one year**
**Notes**
Deferred income
**14**
**14**
**Deferred income**
Arising from Membership levies
Deferred income is included in the financial statements as follows:
Deferred income is included within:
Current liabilities
Non-current liabilities
Movements in the year:
Deferred income at 1 August 2021
Released from previous periods
Resources deferred in the year
Deferred income at 31 July 2022|**2022**
**£**
2,093
**2022**
**£**
17,722|**2021**
**£**
17,308|
|---|---|---|
|||**2021**
**£**
32,782|
||||
||||
||**2022**
**£**
15,629
2,093
17,722
32,782
(15,474)
414
17,722|**2021**
**£**
15,474
17,308|
|||32,782|
|||-
-
32,782|
|||32,782|
Membership levies cover the durariton of members' undergraduate degrees, typically over a 3 or 4 year period. Recognition of these levies has, therefore, been spread across the duration of the degree on a straight line basis.
## **15 Related party transactions**
There were no disclosable related party transactions during the year (2021 - none).
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