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Meeting: Committee / Board as appropriate Date: xx/xx/xx
Report Title: ASU Year End Accounts Agenda Item: xx
Action: APPROVE / RECEIVE / NOTE
Contact(s): Name: Rhianydd Haslock
Tel: 01202 436293 Email: rhaslock@aecc.ac.uk
Appendices /
Detailed Reference to appendices in the below report to be in bold.
Reports:
Corporate
Strategic Aim Which strategic aim does this paper address
Corporate
Risks Which corporate risks does this paper address
Addressed
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## **1. EXECUTIVE SUMMARY** - 1.1. The Students’ Union accounts for year ending 31[st] July 2022 show that ASU ran at a profit. - We increased the price of the gym membership from £50 to £70, the first increase in many years. This rise alongside many more gym members saw a large increase in profit for the gym. This is being invested back into sports teams for the year 22/23, with most clubs receiving the exact funding that they have asked for. The price of the membership still remains significantly lower than external gym facilities. We made a £20000 capital investment in new Cardio Equipment at the end of the year which has been well received by students. We also had the gym painted before reopening for the first time since covid. The refit of the cooling system in the bar did not cost as much as we had budgeted for as we managed to secure sponsorship from our supplier through NUS, who partly funded the project. We did not hold our annual ball this year as we did not receive enough interest in time to make the booking, however we hope to be able to be able to do so this year. Not putting on this event is reflected in the reduced expenditure from the SU General Account from normal years (20/21 being the exception). On the whole we are satisfied that the accounts reflect the activities and purpose of the Student Union. The accounts are submitted as final following scrutiny by an external accountant and will be submitted to the Charity Commission. Page **1** of **2** Board/Committee – Date Page2of2 Boardlcommittee - Date **AECC Students' Union Balance Sheet Year end 31/07/2022** **As at 31st July 2022** **As at 31st July 2021** ## Fixed Assets |Gym Equipment|**40,993.55**|||**24,316.55**||| |---|---|---|---|---|---|---| |Gym Equipment Depreciaton|**22,521.82**|||**19,645.94**||| |Gym Equipment Net Book Value|||**18,471.73**|||**4,670.61**| |Current Assets||||||| |Student Stock|**3,631.86**|||**4,420.74**||| |Bar Stock|**2,330.28**|||||| |||**5,962.14**|||**4,420.74**|| |Debtors|**0.00**|||**0.00**||| |Prepayments|**0.00**|||**0.00**||| |Accrued income|**0.00**|||**0.00**||| |Sub-total - Debtors, Prepayments & Accrued Income||**0.00**|||**0.00**|| |General Bank Account|**45,139.72**|||**72,176.86**||| |General Pety Cash Account|**97.48**|||**97.48**||| |General Float|**100.00**|||**100.00**||| |Bar Bank Account|**21,217.25**|||**13,389.10**||| |Bar Till Account|**0.00**|||**400.00**||| |Bar Pety Cash Account|**100.00**|||**100.00**||| |Gym Bank Account|**22,299.43**|||**14,714.66**||| |Gym Pety Cash Account|**50.00**|||**50.00**||| |Sub-total - Cash & Cash Equivalents||**89,003.88**|||**101,028.10**|| |Taxaton|**0.00**|||**2,248.55**||| |Wages|**0.00**|||**3.40**||| |Accrued Income|**20,300.00**|||||| |VAT Liabilites|**2,047.88**|||**0.00**||| |Sub total: Taxaton, Wages, VAT Liabilites||**22,347.88**|||**2,251.95**|| |Total Current Assets|||**117,313.90**|||**107,700.79**| |Current Liabilites||||||| |Creditors: Short term|**10,392.00**|||**61.60**||| |Taxaton||||**1,755.25**||| |Accruals|**4,345.55**|||||| |VAT Liability||||||| |Total Current Liabilites|||**14,737.55**|||**1,816.85**| |Current assets less current liabilites|||**102,576.35**|||**105,883.94**| |||||||| |**Total assets less total liabilites**|||**121,048.08**|||**110,554.55**| |Capital and Reserves||||||| |Reserves Brought Forward||**110,554.55**|||**112,940.72**|| |(Defcit) / Surplus for the Period||**10,493.53**|||**-2,386.17**|| |**Total Reserves**|||**121,048.08**|||**110,554.55**| **AECC Students' Union Profit and Loss - Total Year end 31/07/2022** ||**Year Ended**|**31/07/2022**|**Year Ended**|**31/07/2021**| |---|---|---|---|---| |Income||||| |Bar Income|**50,694.84**||**1,849.53**|| |General Income|**84,893.01**||**79,842.18**|| |Gym Income|**32,982.50**||**5,859.39**|| |||**168,570.35**||**87,551.10**| |Expenditure||||| |Bar expenditure|**56,423.45**||**2,820.85**|| |General expenditure|**73,057.25**||**74,428.42**|| |Gym expenditure|**28,596.12**||**12,688.00**|| |||**158,076.82**||**89,937.27**| |(Defcit) / Surplus for the Period||**10,493.53**||**-2,386.17**| **AECC Students' Union Profit & Loss - Bar Year end 31/07/22** ||**Year Ended**|**31/07/2022**|**Year Ended**|**31/07/2021**| |---|---|---|---|---| |Income||||| |Till Take|**50,694.84**||**0.00**|| |NUSSL rebates|||**1,849.53**|| |||**50,694.84**||**1,849.53**| |Expenditure||||| |Bar supplies|**36,568.31**||**1,469.45**|| |Staf wages|**13,990.14**|||| |Staf Payroll costs|**412.50**|||| |NUS aflliaton fee|**1,522.50**||**935.40**|| |Refurbishments|**3,514.00**|||| |Licenses|**350.00**||**350.00**|| |Bank charges|**66.00**||**66.00**|| |||**56,423.45**||**2,820.85**| |Defcit for the Period||**-5,728.61**||**-971.32**| **AECC Students' Union Profit & Loss - General Year end 31/07/22** ## **Year Ended 31/07/2022** ## **Year Ended 31/07/2021** ## Income |Freshers' week|**8,411.80**||**0.00**|| |---|---|---|---|---| |Seasonal party|**1,542.73**||**6,684.80**|| |Donaton|**257.00**||**0.00**|| |Locker rental|**0.00**||**15.93**|| |Student diagnostc kit|**13,651.48**||**8,261.06**|| |Books|**130.00**||**2,746.04**|| |Clothing|**0.00**||**1,234.35**|| |Subventon|**60,900.00**||**60,900.00**|| |||**84,893.01**||**79,842.18**| |Expenditure||||| |Clothing|**907.50**||**738.65**|| |Freshers week|**17,368.54**||**4,298.05**|| |Seasonal party|**3,458.03**||**5,540.09**|| |Staf gratuity|**1,971.38**||**1,910.00**|| |Refreshments|**973.68**||**316.47**|| |Insurance|**1,736.90**||**1,842.84**|| |Licenses|**453.67**||**0.00**|| |Travel and Subsistance|**1,310.05**||**92.02**|| |Security|**4,049.75**||**0.00**|| |Bank charges|**94.60**||**117.46**|| |Printng, postage, statonary|**566.89**||**1,465.94**|| |Professional fees|**462.00**||**324.50**|| |Promotons|**1,256.85**||**1,690.30**|| |Diagnostc kit|**9,879.89**||**8,282.10**|| |Books|**0.00**||**2,553.01**|| |Cleaning|**273.70**||**82.19**|| |Gifs|**0.00**||**84.23**|| |Charity donaton|**0.00**||**64.41**|| |Training costs|**3,620.00**||**549.00**|| |Subscriptons|**3,259.53**||**1,315.97**|| |Club - Music Society|**216.66**||**0.00**|| |Clubs|**2,389.99**|||| |Gym refurbishment|**0.00**||**26,584.37**|| |Ofce supplies|**4,945.78**||**4,214.76**|| |Event donaton|**587.30**||**1,636.86**|| |Wages|**13,012.56**||**9,440.20**|| |Cafeine magazine|**262.00**||**535.00**|| |Repairs|**0.00**||**750.00**|| |||**73,057.25**||**74,428.42**| |Surplus for the Period||**11,835.76**||**5,413.76**| **AECC Students' Union Profit & Loss - Gym Year end 31/07/22** ## **Year Ended 31/07/2022** ## **Year Ended 31/07/2021** |Income||||| |---|---|---|---|---| |Student annual fees|**32,982.50**||**5,859.39**|| |||**32,982.50**||**5,859.39**| |Expenditure||||| |Gym purchases general|**2,439.32**||**7,050.19**|| |Insurance|**530.42**||**1,506.70**|| |Bank charges|**66.00**||**66.00**|| |Depreciaton|**2,875.88**||**2,875.88**|| |Refurbishments|**11,860.52**|||| |Club budgets|**10,693.98**||**656.31**|| |Equipment rental|**130.00**||**532.92**|| |||**28,596.12**||**12,688.00**| |(Defcit) / surplus for the Period||**4,386.38**||**-6,828.61**| **From:** Ashman Accountancy **Date:** Thursday, 3 November 2022 at 17:12 **To:** Rhianydd Haslock **Subject:** RE: Account review **EXTERNAL EMAIL** - This email originated from an external source. Do not click links or open attachments if you do not recognise the sender. If unsure contact IT. Hi Rhianydd These look fine, I have reviewed the figures and can see no issues. Regards, Nichola Ashman Ashman Accountancy 14 Horseshoe Close, Wimborne, Dorset. BH21 2UL T: 01202 888066 ¦ M: 07957156094 www.ashmanaccountancy.co.uk **From:** Rhianydd Haslock **Sent:** 03 November 2022 10:26 **To:** Ashman Accountancy **Subject:** RE: Account review Hi Nichola, Thank you so much for your time earlier. I have attached the amended accounts if you would be happy to sign them off as having been externally reviewed for our records. Thanks, Rhianydd **Rhianydd Haslock (she/her) Student Union and Engagement Manager** 01202 436293 thaslock aecc.ac.uk ou for your cooper2bon.