**REGISTERED CHARITY NUMBER: 1193045** ## **REPORT OF THE TRUSTEES AND** **UNAUDITED FINANCIAL STATEMENTS FOR THE PERIOD 8 JANUARY 2021 TO 31 JULY 2021** **FOR** **FALMOUTH & EXETER STUDENTS' UNION** Lang Bennetts Audit Limited The Old Carriage Works Moresk Road TRURO Cornwall TR1 1DG **FALMOUTH & EXETER STUDENTS' UNION** ## **CONTENTS OF THE FINANCIAL STATEMENTS FOR THE PERIOD 8 JANUARY 2021 TO 31 JULY 2021** ||**Page**| |---|---| |**Report of the Trustees**|1| |**Statement of Financial Activities**|2| |**Balance Sheet**|3| |**Notes to the Financial Statements**|4 to 5| **FALMOUTH & EXETER STUDENTS' UNION** ## **REPORT OF THE TRUSTEES** ## **FOR THE PERIOD 8 JANUARY 2021 TO 31 JULY 2021** The charity was formed on 8th January 2021. The charity received no income and incurred no expenditure during the period, and accordingly made neither a surplus nor a deficit. The assets of Falmouth & Exeter Students' Union (Charity Number: 1145405) were transferred to Falmouth & Exeter Students' Union (Charity Number: 1193045) on 1st August 2021. ## **STRUCTURE, GOVERNANCE AND MANAGEMENT** ## **Governing document** The charity is controlled by its governing document, a deed of trust and constitutes a charitable incorporated organisation (CIO). ## **Objects of the charity** The objects of the charity include the advancement of education of students at Falmouth University and the University of Exeter (Cornwall campuses) for the public benefit by: - Promoting the interests and welfare of students at Falmouth University and the University of Exeter (Cornwall campuses) during their course of study and representing, supporting and advising students; - Being the recognised representative channel between students and Falmouth University, the University of Exeter and any other external bodies; and - Providing social, cultural, sporting and recreational activities and forums for discussions and debate for the personal development of its students. ## **REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number** 1193045 ## **Principal address** University Campus Penryn Penryn Campus PENRYN Cornwall TR10 9FE ## **Trustees** Mrs C J Agnew (appointed 8/1/2021) Mrs R A Hunnam (appointed 8/1/2021) P K T Northmore (appointed 8/1/2021) Mrs E M Ricks (appointed 1/8/2021) B L Statham-Wilkins (appointed 1/8/2021) S A Preece (appointed 1/8/2021) J P Waring (appointed 1/8/2021) K I Werry (appointed 1/8/2021) Mrs F A Mohamud (appointed 1/8/2021) M B Carney (appointed 1/12/2021) ## **EVENTS SINCE THE END OF THE PERIOD** Information relating to events since the end of the period is given in the notes to the financial statements. Approved by order of the board of trustees on 25 April 2022 and signed on its behalf by: S A Preece - Trustee K I Werry - Trustee Page 1 **FALMOUTH & EXETER STUDENTS' UNION** ## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE PERIOD 8 JANUARY 2021 TO 31 JULY 2021** |||Total|| |---|---|---|---| |||funds|| ||Notes|£|| |**NET INCOME**|||-| |**TOTAL FUNDS CARRIED FORWARD**|||-| The notes form part of these financial statements Page 2 ## **FALMOUTH & EXETER STUDENTS' UNION** ## **BALANCE SHEET 31 JULY 2021** |||Total|| |---|---|---|---| |||funds|| ||Notes|£|| |**NET CURRENT ASSETS**|||-| |**TOTAL ASSETS LESS CURRENT**|||| |**LIABILITIES**|||-| |**NET ASSETS**|||-| |**FUNDS**|3||| |**TOTAL FUNDS**|||-| The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by: ............................................. S A Preece - Trustee ............................................. K I Werry - Trustee The notes form part of these financial statements Page 3 **FALMOUTH & EXETER STUDENTS' UNION** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD 8 JANUARY 2021 TO 31 JULY 2021** ## **1. ACCOUNTING POLICIES** ## **Basis of preparing the financial statements** The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention. ## **Taxation** The charity is exempt from tax on its charitable activities. ## **Fund accounting** Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. Further explanation of the nature and purpose of each fund is included in the notes to the financial statements. ## **2. TRUSTEES' REMUNERATION AND BENEFITS** There were no trustees' remuneration or other benefits for the period ended 31 July 2021. ## **Trustees' expenses** There were no trustees' expenses paid for the period ended 31 July 2021. ## **3. MOVEMENT IN FUNDS** |**MOVEMENT IN FUNDS**|||| |---|---|---|---| |||Net|| |||movement|At| |||in funds|31/7/21| |||£|£| |**TOTAL FUNDS**||-|-| |Net movement in funds, included in the above are as follows:|||| ||Incoming|Resources|Movement| ||resources|expended|in funds| ||£|£|£| |**TOTAL FUNDS**|-|-|-| continued... Page 4 **FALMOUTH & EXETER STUDENTS' UNION** ## **NOTES TO THE FINANCIAL STATEMENTS - continued** ## **FOR THE PERIOD 8 JANUARY 2021 TO 31 JULY 2021** ## **4. RELATED PARTY DISCLOSURES** There were no related party transactions for the period ended 31 July 2021. ## **5. POST BALANCE SHEET EVENTS** The assets of Falmouth & Exeter Students' Union (Charity Number: 1145405) were transferred to this charity on 1st August 2021. Page 5