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2023-06-30-accounts

CONTENTS PAGE
Trustee and Union
Information
Report ofthe Trustees
Independent
Auditors'		 Report to the Trustees
Statement of Financial Activities 22
Consolidated
Balance		 Sheet 23
Union Balance Sheet 24
Cash flow Statement 25
Notes to the Financial Statements 26

Charity Registration Charity Registration Number Number 1194635
Company Registration Number 13275949
Chief Executive Emilie Tapping
Principal Office John Henry Brookes Building
Gipsy Lane Campus
Headington
Oxford
OX3 OBP
Auditors Critchleys
Audit LLP
Beaver House
23 —38 Hythe Bridge Street
Oxford
OX1 2EP
Bankers: National
Westminster		 Bank PLC
91 London Road
Headington
Oxford
OX3 9AF
Solicitors: Freeths
LI P
Davy Avenue
Knowlhill
Milton Keynes
MK5 8HJ
Wrigleys
Solicitors LLP
19Cookridge Street
Leeds
LS2 3AG
Blake Morgan LLP
Apex Plaza
Forbury Road
Reading
RG1 1AX

Year Period
Unrestricted Restricted ended 30 Unrestricted Restricted ended 30
funds funds June funds funds June
2023 2023 2023 2022 2022 2022
Note E E E
INCOME AND ENDOWMENTS
FROII:
lloluntary
Income:
Donations,
Block Grants, etc.		 3 1,248,765 14,531 1,263,296 991,293 52,433 1,043,726
Other Trading Activities
Letting ofspace		 14,935 14,935 14,505 14,505
Advertising
income
Freshers' week		 32,250
56,870		 32,250
56,870		 51,983
40,653		 51,983
40,653
Investment
income		 1,237 1,237 234 234
Charitable
activities
Retail operations 1,590 1,590 1,620 1,620
Clubs and societies 100,083 100,083 85,928 85,928
NUS Extra commission 824 824 599 599
Otherincome 14232 14232 13508 13508
Total income and 1 37D 702 114614 1 485317 1 114395 138 361 1 252756
endowments
EXPENDITURE ON:
Raising funds
Freshers' week 23,050 23,050 16,086 16,086
Charitable
activities
Retail operations 31,851 438 32,289 54,525 54,525
Clubs and societies 314,575 110,301 424,877 122,822 75,106 197,928
Student representation 500,413 4,650 505,063 276,312 52,433 328,745
Welfare services 750,422 4,650 755,072 120,231 120,231
External representation 15 28938 25 938 30479 30 479
Total expenditure 4-6 1 649249 120039 1 769259 620 455 127539 747 994
Net income/(expenditure)
Transfers
between
funds		 17-18
Net movements
in funds		 ~278 547 ~5425 ~283972 493 94D 10822 504 762
Funds as at 1 July 2022 ~414614 74 141 ~34D 373
Funds transferred
on		 ~908454 63319 ~845 135
Incorporation
Funds as at 30June 2023 ~693061 68 716 ~624 345 ~414514 74 141 ~34D 373

Note 30June
E		 2023 30June
f		 2022
Fixed assets
Tangible assets 8,247 5,398
Current assets
Debtors 10 9,700 27,916
Cash at bank 9D4 526 892785
914,228 92D,701
Creditors
amounts
falling due within		 one year (147,306) 158002
Net current assets 766 92D 762 699
Total assets less current liabilities 775,167 768,097
Non-current
liabilities		 12
Pension scheme funding deficit 1 399512 1 108470
Net liabilities ~624 345 ~340 373
Capital and funds
Unrestricted
funds:		 17
General funds 306,451 443,956
Pension
deficit fund		 (1,399,512) (1,108,470)
Operating
fund		 4DD DDD 250 000
(693,061) (414,514)
Restricted funds 18 68716 74 141
624 345 ~340373

30June 2023 30June 2022
Note E F
Fixed assets
Tangible assets
Investments		 8,247
100		 5,398
100
8,347 5,498
Current assets
Debtors 10 11,608 15,433
Cash at bank and in hand 825 643 819824
837,251 835,257
Creditors
Amounts
falling due within one year		 11 ~17212 (~131409
Net current assets 7DD 039 7D3 848
Total assets less current liabilities 708,386 709,346
Non current liabilities
Pension scheme funding deficit 12 1 399512 (~1108470
Net liabilities 691 126 399 124
Capital and funds
Unrestricted
funds:		 17
General funds 239,670 385,205
Pension
deficit fund		 (1,399,512) (1,108,470)
Operating
fund		 400 000
(759,842)		 25D DDD
(473,265)
Restricted funds 18 68716 74 141
~691 126 ~399 124

2023 2022
Note E
Cash flows from operating activities
Net (expenditure) / income 7,070 504,762
Interest receivable (1,237) (234)
Depreciation 5,168 832
Decrease/ (Increase) in debtors 18,216 205,599
(Decrease)
/ increase		 in creditors ~10698 15041
Net cash provided by / (used in) operating activities 18521 32D 694
Cash flows from investing activities
Interest receivable 1,237 234
Purchase
oftangible		 fixed assets ~8017 ~5982
Net cash provided by /(used in) investing activities ~5748
Change
in cash and		 cash equivalents in the period 11,741 314,946
Cash and cash equivalents introduced on Incorporation 892 785 577 839
Total cash and cash equivalents at the end ofthe period 9D4 526 892 785
2023 2022
E
Cash at bank 9D4 626 892785
904 526 892785

period, or in the period of th
periods.		 period, or in the period of th
periods.		 period, or in the period of th
periods.		 e rev ision
 an d futur e
 periods wh ere the revision
affe		 cts both curr ent a nd future
Critical accountin
estimates		 and assum tions
Preparation
of the financial
statements
requires
management
to make judgements
and estimates.
The key
sources of estimation
uncertainty
that have a significant
effect on the amounts
recognised
in the financial
statements
are that of the SUSS pension
scheme
deficit. A discount
rate of 5% has been used
in line with
industry
standards.
3.
VOLUNTARY
INCOME
Year ended Period ended
30June 2023 30June 2022
University
block grant
University
grant for rent
Other grants
Donations		 1,074,735
173,306
14,531
724		 866,293
125,000
52,433
1 263296 1 D43 726
4.
EXPENDITURE
2023 Staff wages Rent Other Total
Raising funds
Freshers week		 costsf
23,050		 f
23,050
Charitable
activities
Retail operations
Clubs and societies		 26,664
195,041		 5,199
57,191		 426
172,645		 32,289
424,877
Student representation
Welfare services		 326,750
638,592		 55,458
55,458		 122,855
61,022		 505,063
755,072
External representations (15) 28 938 2&KL8
Total resources expected 1 187 047 173306 408 936 1 769289
Included
ln otller costs		 are governance costs of 619,910.

2022 Staff Rent Other Total
wages
f		 costs
Raising funds
Freshers week 16,086 16,086
Charitable
activities
Retail operations 37,360 6,458 10,707 54,525
Clubs and societies 68,263 39,792 89,873 197,928
Student representation 188,424 39,583 100,738 328,745
Welfare services 67,191 39,167 13,873 120,231
External representations (15) 30479 30479
Total resources expected 361 238 125 DDO 261 756 747 994

.
CENTRAL OVERHEAD COS		 TS INCLUDED
IN NOT		 E 4
2023 Usage Staff Rent Other Total
0/ wages
f		 costs
f
Charitable
activities
Retail operations 17,731 5,199 5,721 28,651
Club and societies 33 195,040 57,191 62,930 315,161
Student representation 32 189,131 55,458 61,022 305,611
Welfare services 32 189131 55458 61 022 305611
100 591 D33 1733D6 190695 955 D34
2022 Usage Staff Rent Other Total
D/ wages
f		 costs
f
Charitable
activities
Retail operations 5 11,079 6,458 4,997 22,534
Club and societies 32 68,263 39,792 30,786 138,841
Student representation 32 67,906 39,583 30,625 138,114
Welfare services 31 67 191 39167 30303 136661
1DD 214439 125 DDD 96711 436 150

.
STAFF COSTS
Year ended Period ended
30June 2023 30June 2022
E
Wages and salaries
Social security
Pension —contributions
paid
Pension —actuarial
liability movement		 679,888
57,577
149,606
291 942		 571,916
48,493
139,137
(398308)
1 178113 381 238
The number
of higher		 paid employees Period ended
30June 2023		 Period ended
30June 2022
In the band f60,000- 670,000 1
Year ended Period ended
30June 2023 30June 2022
Full time 21 13
Students —term time 15
36		 23
36
7.
NET INCOME/EXPENDITURE		 FOR THE PERIOD
Net expenditure for the period is stated after charging:
Year ended Period ended
30June 2023 30June 2022
E
Depreciation 5,168 831
Auditors remuneration:
Parent charity
Subsidiary
company
Other non-audit
services		 10,800
2,100		 13,160
5,600
925

Fixtures & Computer Total
equipment equipment
E f.
Cost
As at 1 July 2022 34,508 29,441 63,949
Additions 8,017 8,017
Disposals ~14518 ~9657 ~24 176
At 30June 2023 28 006 19784 47 790
Depreciation
Transferred on 1 September 2022 31,616 26,935 58,551
Charge
for the		 period 3,663 1,504 5,168
~14518 ~9657 ~24 176
At 30June 2023
20 761 18782 39543
Net book value
At 30June 2023 7245 1 002 8247
At 30June 2022 2 892 2 506 5 398

.
INVESTMENTS
Group
f		 Charity
f
Net book value
At 30June 2022 100
At 30June 2023 100

Group Group Charity Group Charity
2023f 2023f 2022f 2022f
Trade debtors 875 875 16,043 1,052
Amount
due by subsidiary
Other debtors		 8,825 1,921
8,812		 11,496 2,739
11,484
Prepayments and accrued income 377 158
9 700 11608 27 916 15433

1.
CREDITORS: A		 mounts
falling due		 within one year
Group
2023f		 Charity
2023f		 Group
2022f		 Charity
2022f
Trade creditors 28,513 27,876 20,254 19,144
PAYE and social security
Other creditors		 16,676
36,098		 15,941
30,098		 7,632
63,976		 2,581
63,976
Accruals and deferred income 68 019 63297 66 140 45708
147306 137212 158002 131409

Unrestricted Restricted Total Unrestricted Restricted Total
GROUP funds funds funds funds funds funds
2023 2023 2023 2022 2022 2022
f f f f f f
Tangible fixed assets 8,247 8,247 5,398 5,398
Net current assets 698,204 68,716 766,920 688,558 74,141 762,699
Non-current liabilities ~1399512 ~1399512 ~1108470 ~1108470
693061 68716 624 345 414514 74 141 ~340373
CHARITY Unrestricted Restricted Total Unrestricted Restricted Total
funds funds funds funds funds funds
2023f 2023f 2023f 2022f 2022f 2022f
Tangible fixed assets 8,247 8,247 5,398 5,398
Investments 100 100 100 100
Net-current assets 631,323 68,716 700,039 629,707 74,141 703,848
Non-current liabilities ~1399512 ~1399512 ~11D8470 ~110847D
759842 68716 691 126 473 265 74 141 ~399124
7.
UNRESTRICTED		 FUNDS
As at As at
30June Income Expenditure Transfers 30June
2022f 2023f 2023f 2023f 2023f
Operating
fund		 250,000 150,000 400,000
Pension deficit (1,108,470) (291,042) (1,399,512)
General fund 443 956 1 370 702 ~1358207 150000 456 451
414514 1 370702 1 649249 693061
Introduced As at
on 1 Income Expenditure Transfers 30June
September 2022 2022 2023 2022
2021f f f
Operating
Pension
General		 fund
deficit
fund		 250,000
(1,513,776)
355322		 1114395 405,306
~1025761		 250,000
(1,108,470)
443956
~908 454 1 114395 620455 ~414 514

As at As at
30June Income Expenditure 30June
2022 2023 2023 2023
E E
Governance
and
University
Grant
Societies		 Quality
for New		 Fund
CRM System		 13,205
60936		 14,531
1DD 083		 (14,531)
~105508		 13,205
55 511
74 141 114614 ~120 D39 68 716
Introduced on 1 As at
September 2021 Income
2022		 Expenditure
2022		 30June
2022
E
Governance and Quality Fund 13,205 13,205
University
Kickstart
Societies		 Grant
Grant		 for New CRM System 50 114 38,134
14,299
85 928		 (38,134)
(14,299)
~75 106		 60 936
63319 138361 ~127539 74 141
19.
FINANCIAL INSTRUMENTS
GROUP		 19.
FINANCIAL INSTRUMENTS
GROUP		 2023 2022
Financial
liabilities measured
at		 fair value 1,399,512 1,108,470
The group's
income, expense,		 gains and losses in respect offinancial instruments are summarised below:
he grou p's
i		 ncome, expense,
gains and losses
in respect offinancial
i		 nstruments are summarised below:
2023 2022
E
Interest income and expense:
Total interest income for financial assets held at amoitised cost		 1,237 234
Charity 2023
E		 2022
E
Financial liabilities measured
at fair value		 1,399,512 1,108,470
he charities income, expense, gains and losses in respect offinancial instruments are summarised below:
2023 2022
K E
Interest income and expense:
Total interest income for financial assets held at mortised cost		 1,237 234