RgJiStel Ch9rity Number.. SC028544 Students. ssociotion EDINBURGH COLLEGE STUDENTS, ASSOCIATION REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024
EDINBURGH COLLEGE STUDEKfs' ASSOCIATION Accoubrrs FOR THE YEAR TO 30 JUNE 2024 {Charty Number. SC028544) Contsnts Page Trustees, Report 4-8 Independent Exarninerfs ReFKYt 9-10 Statement of Financial Activibes 11 Balance Sheet 12 Notes of foming part of the financial statemenis 13-21
EDINBURGH COLLEGE sTUDED8 ASSOCIATION Accoupifs FOR THE YEAR TO 30 JUNE 2024 (Charity Number. SC028544) BOARD OF TRUSTEES AND ASSOCIATION INFORMATION Charlty number: SC28544 Address: Indepgndant examlners: Henderson Kildavaig Chartered Accountsnts 109114 Swanston Road Edinburgh EH10 7DS Bankers: Royal Bank of Scotland plc Edinburgh. Stockbridge (A) Branch 12 North-west Circus Place Edinburgh EH3 6SX
EDINBURGH COLLEGE STuDEs. ASSOCIATION ACCOUNTS FOR THE YEAR TO 30 JUNE 2024 (Charty Numtrer. SC028544) REPORT OF THE BOARD OF TRUSTEES The Board of Trustees are delighted to rrfesent their annual rewt and financial statements of the charity for the year ended 30 June 2024. The financial statements have been prepared in acrdanCe with th8 accounting policies set out in note 1 to the accounts and compty with the Charilies and Trustee Investment (Scotland) Act 2005. the Chartties Accounts (Scoliand) Regulations 2¢)06 (as amended) and Accounting and Reporting by Chartties.. Staternent of Recommended practi applicab to charities preparing their accounts in accordance with the Financial Reporting Standard FRS102 Section 1A and the Charities SORP (FRS102) STRUCTURE GOVERNANCE AND MANAGEMENT The Association is govemed by its Constitutson vthich was last updated in May 2016. The political leadership ofthe ASallOn is made up of 3 Fuikfime OffirS, elected annualty and limited to a maximum of 2, 1-year temis. The Association is membershipkd and the democratic structure is set out in our Constitutron. The charity is govemed by a Board of Trustees made up of the 3 Full-Time OffirS, 2 current Student Trustees, and 3 ExtemallLay Trustees. Only the 3 full-time offi15 are remunerated, with the other Trustees being volunteers and the Board ordinarity meets 4 times per year. The Association employs small group of stsff induding the Director vtho line manages the other staff and reports to the Board of Trustees. The Director i8 responsible for the operational management of the Associalion as well as rep)rting on the progress against agreed Strategic Obieciives. Staff salaries are set in line wtth agreed Scotlan&wide College support staff pay scaks. FulkTune Officer salaries are set by benthmarking against other Scottish Studerrts, Associations. students. Assoclallon Elècted Offlcer4 The Students. Assoctation's President and Preshlents were during March 2023 for the 2023124 session and took up post on 1° July 2023. In 2017. the Association agreed to change the way in vthich we supwrted the Yrk of the Fulkrime Offiors (FTOS). moving away from fornal. elected volunteer offi(trs, wtth speciffic remits, to a more infom)al group of volunteers for each task or activty. This has meant that student volunteeryJ do not need to go through the process of elections to get invofved Vth actNities and has meant that they are able to pk and choose which parts they want to take more leadership on. irnproving our engagement with st. The elected offlcers for sesslon 2023124 re as followJ: Full-Time Offic Presldent Vice Presldent Actlvftles Vlce Presldent Wellare Stafflng & Salarles Edinburgh College Students. Asso<xation (ECSA) currenty ernpbys 4 full-time staff. The posts were created in 2014 wrth salaries being set in line 4*ith the College support stsff pay framework. Salaries are subject to annual increments. as wdl as changes made to ts framework, via national College pay negotiations. staff Assoclatlon Dlrector Representatlon & Impact Coordlnator Comrnunications & Events Coordinator Communities Engagement Coordinator
EDINBURGH COLLEGE STUDEpifs' A%SOClATION ACCOUNTS FOR THE YEAR TO 30 JUNE 2024 (Charty Number. SC028544) OBJECTIVES AND ACTivrriES These are summarised in the Constitubon. whith ts apwoved by the Associakn's Board of Trusts8s as well as the College Board of Management, as foll¢y•ts: We aim to advan the education of sbjdents at Edinburgh Colkge for the public benefft by: (a) promoting the interests and %lfare of students at Edinburgh College during theircourse of study and representing, supporting and advising students. (b) being the recognised reF¥esentstTve channel between students and Edinburgh College and any other organisation outside EdinLMJrgh College arKI (c) providing social, culbjral, sportrng and recTrational adivitEs and fwms for discussions and debate for the personal development of our students. These aim5 and ofyectives are pursued lthOU1 dBcrimination on the grounds of age, sexual orientatron. disability, gender, relb3ion or race. The Union also operates independenty of any poltlical party or religious organwtion. In pursuit of these goals. the Associalion ThrkS In partnershlp with Edinburgh's College. students. staff and Board of Management. ACHIEVEMENTS AND PERFORMANCE Introductlon from the Presldenl Chalr of the Board of Trustees The past tsvo years as an etethd Fulktime Student Officer have been one the most incredible and testing experiences of rny life. BuildirvJ a Students, Associakn and student engagement back after what felt like an etemity of isolation, onty to be faCj wÉth lecturer strikes and a cost-of-INing crisis. Despite all of tL I'm very proud to present our Report for 2023-2024 detailing all of our activty and achievements throughout this year. l think it is important to highlight just htr small our Students. Association team is before reading this repo wrth a small, mvJhty team of seven people consisting of three officers, three fvll-time staff and our Director. have been able to cover all four cam and represent 25,000 students as well as working on commtitees. prcfjects and partnerships across the ¢ollege. the sector, and the county. When you read thks report with that in mind. you truty see the InedIble impact we are able to have, despite our stze. I had never seen myself as a career woman unti I started at EC Students. Association and I had aayS been told that my strengths were in speaking and having an opinK)n. Well. it tums out that you can make a career out of thatl We have had a year of attending protests. conferences. hosting wellbeing events and my personal favourite, bringing peop together. We are so incredibly proud of the relalionship work that have frS on over the past year. Building. not onty a stronger relationship between the Board of Management, Senior Management Team, and the Stud8nts' Assoaation, but ueating transparent and direct lines beiween peopk at the top of the College and students on the ground.
EDINBURGH COLLEGE STUDENfs' ASSOCIATION AccouTrrrs FOR THE YEAR TO 30 JUNE 2024 (Charty Number. SC028544) This is our legacy and work that l am exuted lo see develop for years to come. l truly hope that V have done y(w proud arKI shMI you the truo streffjth and beauty of my favourite saying Tr people united will never be defeated.. Some of our top achievements from 202&24 Indude: 1. Reverse Shadowing vlth the Board of Management We'va welcomed Edinburgh College's Board Mernbers toioin us for the day. inviting them to gain new perspectives on the real-life student experien at Edinburgh Colb3e. 2. Clubs & Societies Launched We launched several Clubs & So¢ietses to provide students with a chance to soaalise. Tabletop Games club, WKleo Games club and our LGBTQ+ soc*ty have s8en regular engagement on Sighthill, Milton Road and Granton. 3. Wellbeing Fairs This y8arfs Wellbeing Fairs have been byger and better than ever, takng place on our largest mpuses and involving more than 20 extemal partners and chafities from acr< Ediniwrgh and beyond. 4. Awareness Days W8're commttted to spmding the word about key w4Mreness days throughout the year arKI have Tun stalls across the college to mark causes as dp4erse as LGBT+ History Month. Anti-Bultying WeeK Intsmational Women's Day. Earth Day. and Mental Healih Avrdreness Vleek. 5. Compebbve Student Electior At this yearfs Student Elections, every position was contested. and it vras the second hwJhest voter tumout on record, with 1084 students having their say on who should lead their Students. Associalion next. We're excited to te working wtth 6. Everrts During the Holidays For the first time ever. we decided to ty oui full days of activibes for students during the ho1jays. We started wtth VKleo Games Day in February Break. and foll0v1 up with another day of uafting and gaming in the Easter holidays. Students were fUed up Vth pizza and 9ocrfJ company. 7. Freshers. Fars In earty Septefflber, we held our firstfijlkscale Freshers. Fairs since 2019, with lots of extémal partners coming in to share goodies Vth students. and stsrt the twm a bang.
EDINBURGH COLLEGE STUDEs. ASSOCIATION AccouFrrs FOR THE YEAR TO 30 JUNE 2024 (Charity Number.. SC028544) 8. New Trustee Board This year saw our new members of our Board of Trustees take to their roles fulty. We welcomed expertise from across the sector three new extemal trustees, vthitst remaining student-led wtth the appointment of two new student trustees, joining our elected fulktime officers and working alongside our anent staff team. 9. Protests and RallEs Our student officer tea spoke up for Stlents at numerous protests and rallies this year, from the NUS Stop the Cuts Ralty to Trans Ryhts protests at the S¢ottish Parftament, as well as campaigning for continued counsellir¥J SUPFQrt on campus. 10. Class Rep Engagement & SttNJent Life Survey Engagement V•ith our Class Rep communty has gone from strength to strength this year. with Reps getting involved in additional opportunities, such as focus groups, Education Scotland vistts, and encouraging others to complete our Student Life Survey, whth had 629 resp)nses. A big thank you too goes to our newty established Board of Trustees, helping to guide us to our next iteration and setting us on course wtth a new Strategic Plan. We're also grateful to all of our partners from across the college. the sector. and beyond, tho have worked ¥th us this year. Particular thanks to the continued, vital support arKI genuinely positive wong relationship we have with the Development Trust, College Senior Management Team. and Board of Management. We are unique in the sector for how we operate, and our partnership approach and muiual resFect for each otherfs. roles and actNitses is the rockthat we build upon. The fuiure is far from rtaIn, but nothing can stop our pot8ntial for making a difference to the Iiv8s of students rf maintain solKI partnership. Powered by students. Driven by values. Comrnitt8J to better. Ifs more than just a tag line. BOARD RESPONSIBILrriES Charity law rUireS the Board to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the Union and of the surplus or deficit for that year. In preparing the financial statements the Board is required to select suitable accounting policies, as described on page 17. and then appty them on a consistent basis. observe the methcrtjs and prinriples in the applicable Charities SORP, make judgements and estimates that are prudent and reasonable and state whether applicable accounting standards have been followed. subject to any material departures disd05ed and explained in the financial statements. The Board must also prepare the financial ststements on the going concem basis unl8SS it is inappropriate to FKesume that the Union will continue to owate. The Board is reSponsie for keeping accounting records which disclose, with reasonab acrJJracy. at any time, the financial postbon of the Union and to enable them to ensure that the financial statements comply wtth the Charity Accounts (Scottand) Regulations 2006 (as amend&J). It is also responsible for
EDINBURGH COLLEGE STUDEpifs' ASSOCIATION Accouiifs FOR THE Y84R TO 30 JUNE 2024
(Charity Number. SC028544)
safeguarding the assets of the Union and hen for taking reasonab steps for the prèverrtion and
detlOn of fraud and other IrrularItie$.
FINANCIAL REVIEW
The Assocration's main furKliw comes from Edinburgh Coll8g8. This funding now treated by Edinburgh
College as being c¢>teminus ryth its own finanaal year of1 August to 31 July. Until 2019 funding re1Ved
from Edinburgh College was made in line ryth the Associthn's finan¢xal year of 1 July to 30 June.
The financial statements shoukl be read in conjunction with the related notes which appear on pages 14
to 21. and these have been prepared in accordan *ith the Financtal Reporting StaThJard FRS102 1A
and the Charities SORP (FRS102) and relevant kw.
The charit
unrestricted reserves Ixought forward at 1 Juty 2023 gives unrestricied reserve5 of £71.256 available to
be carried forward into the new financial year to be used. in accordance wtth the ConstibJtion, in
furtherance of th8 Ot48Ctives and ac11vilS of lh8 Sknl8nts' Ass0(x.
In the year the charty received £nil furKling thich vms restricted. Financial details of income and
expenditure for the projects carried on during the year can be found at note 10 within the Noles to the
Accounts. At Juty 2024 £31,927 (2023 - £31,927) was carrvj foiward into the new financial year to be
used in accordance with the objectives of the Climate Challenge Fund and is not available for general
purposes.
Reserves Policy
E&SA aspire to build up a level of unrestrided reserves equNalent to three months operating costs for the
Association. At 2023124 levels. this will equats to £70.c0. These reserves are to peThit the Asswiation
to ensure tt able to m8et its finanaal oblvjations at all times of the year to enable the organisation
to be wound up appropriately. shoukl the need ever arise. Reserves wll accrue from Small budgeted
surpluses annualty, plus any underspend against annual income. Once the level of reserves has been
reached, any subsequent surplus monies will be used to futKI projects and other one-off 6xpendttur8 as
approved by the Association Director arKI or the Board. depending on the level.
Presldent
2g103/25
EDINBURGH COLLEGE STUDEMfs ASSOCIATION AcCOUPs FOR THE YEAR TO 30 JUNE 2024 (Charty NUmr. SC028544) INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF EDINBURGH COLLEGE STUDENTS. ASSOCIATION I report on the accounts of the charity for the year end1 30 June 2024 vthich are set oui on pages 12 to 21. Respectlve responslbllltles cl Trustees and examlner The Trustees are responsible for the preparation of the accounts in acrdanCe with the tems of the Charibes and Trustse Investment {ScolarKJ) Act 2005 and the Charities Accounts (slIand} Regulations 2006 (as amended). The Trustees consKler that the audit requirement of Regulation 10(1) (a) to (c) ofthe Accounts Regulations does not appty. It is my reswnsibilty to examine the accounts as required under section 4411) (c) of the Act and to state whether particular matt$ have come to my attention. Basls of Independent examlnorfs statomont My examination is Carried out in accordance with Regulation 11 of the Chariiies Accounts {slIand) Regulations 2006 (as amended). An examination indudes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or dKlOSureS in the accounts arKI seeks explanatlons from the Twstees COnmIng any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit. and consequenty I do not exwess an audff( opinion on the view grven by the accounts.
EDINBURGH COLLEGE STUCETrs. ASSOCIATION ACCOUNTS FOR THE Y84R TO 30 JUNE 2024 (Charity Number. SC028544) Independont oxamlnerfs stat•mont In the course of my examination, no matter has come lo my attention: 1) vthich gNes me reasonable cause to believe tha( in any material respect, the requIremts. •to keep accounting records in accordance *ith Seciion 44(1) (a) of Ihe 2(>5 Act and Reguktion 4 of the 2006 Accounts Regulations; and • to prepare accounts vthich accord with the accountiThJ records arKI compty with Regulalion 8 of the 21 Accounts Regulations; have not been or 2) to vthich. in my opinion, attention shoukj be dra in order tr> enable a proper understanding of the accounts to be reached. .&.1.3.12c%2 Henderson Kildavaig Chartered Accountants 109114 Swanston Road Edlnburgh EH10 7DS 10
EDINBURGH COLLEGE STUDETrtrs' ASSOCIATION Accoumfs FOR THE YEAR TO 30 JUNE 2024 (Charity Number.. SC028544) STATEMENT OF FINANCIAL ACTIVITIES Yaar Ended 30 June 2024 Yèar Ended 30Juno 2023 2024 Totsl 2023 Total Fundg Funds Incomo and èndowm•nts: Donation$ & legacies Charitable actmties Investments 3&10 282.853 282.853 257,813 1.000 53 104 104 Total Incomg 282.958 282,958 258.866 Expgndlturg: Chantable Acbvit Sabbatical costs Stsff costs Project Fund Costs Clubs and Societies Subscript*)ns and affiliations Events and ActNities Central Serv 6&10 10 278, 278.8 226.664 892 3.872 26,730 9,230 23.084 9.230 23.084 DepreeAati¢ 11 Totsl exp•nditur• 313.783 313.783 258,304 Net Incomlng resourcesl {r8sources expended) {30.825) {30,825) Transfvrs bgtsveen funds Ngt movomont In funds (30.825) (30.825) $62 Recon¢llla¢lon of funds: Total funds brought foThvard Total funds carried fomard The notes cfi pages 11 to 21 fomi part of these financial statemènts. 11
EDINBURGH COLLEGE STUDEpifs' ASSOCIATION ACCOUNTS FOR THE YEAR TO 30 JUNE 2024 (Charity Number. SC028544) BALANCE SHEET Notes Unrestricl•d Funds Tolal Funds 2024 Total Fund# 2023 Funts Flxod Assets: Tangibi8 Assets Irweslments 11 12 110 110 110 T(*al Flxed Assets 110 Current assets: Debtors Cash at bank and in HaThJ 13 101.983 14,5 101,983 14.596 138.Crf)1 4.910 Total Current As¥ots 116.579 116.679 142,912 Uabilities: Credrtors.. amunts falling 14 due within one year {13.5(6) 13.> {9,0131 103.073 103.073 133.899 Total net assots or Ilabilitlgs 103.183 103,183 134.009 The funds ofthe charfty: Restricled Funds 16 31.927 31.¥27 31.927 Unrestricted Funds 16 71.256 71.2 102.081 Total charity funds 71256 31.927 103.183 134.009 These financial statements were apFYoved by the Trustees on: The notes on pages 11 to 21 fom part of these financial staternents. 12
EDINBURGH COLLEGE STUDEbrrs' ASSOCIATION AccourS FOR THE Y84R TO 30 JUNE 2024 (Charity Number. SC028544) NOTES TO THE FINANCIAL STATEMENTS 1 AccoufrrriNG POLICIES Basi$ of Accounting The finanoial statements have been prepared in accordance wilh Accounting and Reporting by Charities: Ststement of Recommended Practice applicable to chartlies preparing their accounts in accordan wf(h the Financial Reporting Standard applicable in the UK and Republic of Irefand (FRS 102) 1A, the Charities SORP (FRS 102), taking advantage of the exemptions applicable for small charities, the Charities arKJ Trustee Investment (Scotland) Art 2005 and the Charities Accounts (Scotland) Regulations 2006 (as amended). The accounts have been prepared under historical cost o)nvention with items recogniwj at cost or transaction value unless otheThvise stated in the relevant note(s) to these aunts. Income recognltlon Income is recognised On the AsSociatn has entitIennt and it is probable that the income will be received and Ihe amount of income receivable can be measured reliabty. Grants are recognised in the accountirKJ pen(xl to which they relate and are subject to agreed sep4eS and activitses. Interest on funds held is included when receivable and the amount can be measured reliably by the charity" this is normalty upon notification ofts interest paid or payable by the bank Expendlture recognltlon Liabilibes are recognised as expenditure as soon as there is a legal or constructive obligation commitbng the Association to the expendrture. it is probable that Setuennt will be required and the amount of the obligation can be measured reliably. All expenditure is aUnted for on an x(¥uafs basis. All expenses including support costs and governan costs are allocat&J or apOned to the applicable expenditure headings. Cash Flow Statsment The Students. Association has taken advantage ofthe rewting exnPtionS for small Charities and do not include a cash flow statement as part of their statutory reF)orting. Flxed Assets Tanglble assets Tangible assets are ts11$ed at cost induding instsllation, vthere appropriate. Equipment costing less than £2,500 per tndr4idual item is charg&J to the income and expenditur8 account in the year of acquisition, with the exceptTron of individual assets vthose cost falls below the threshokl and pose a risk of fraLNJ or thefL when they are group8J by type and capitalised. Capitalised equipEnt is wrttten down over its useful economic life as follows: Plant and equiFthent Fumishings and fittings up to 5 year5 up to 10 years 13
EDINBURGH COLLEGE STUDEPtrs' ASSOCIATION ACCOUNTS FOR THE YEAR TO 30 JUNE 2024 (Charity NumtEr. SC028544) NOTES TO THE FINANCIAL STATEMENTS Accounllng Pollcles (conllnued) Investments Investments are stated at cost less any wovision for dirninutl in value. TatIon No provision is made in these accounts for corporati Tax as the Union is exempt from such tsxes as a result of its ¢haritable status. Penslon costs and other post4etlrement beneffts ECSA staff are included in the Local Govemment Pension ScheffK8 (LGPS) run by Edinburgh College. This is a defined benefft scheme kyoviding befft$ based on final pensionable pay. The assets and liabilitses of the scheme are hekj separatety from thc6e of Edinburgh College. Additional infomiation in relation to the LGPS is available wtthin the a¢o)unts of Edinburgh College. Contributions payable to the pension stheme by ECSA are charged to the Statement of Financial Actrrfities in these accounts in the period to vknich they relate. Funds Unrestricted fvnds are grants or other incomiNJ resources receivable or generat8J for the objects of the charity without further speufic purp)ses and are available as general funds. Restricted funds are to be used for specific purposes as laid down by the donor. Expenditur8 which meets these rrriteria is charged to the restricted fuThJs. 2 GOING CONCERN The Association is dependent on the conttnued financial support of Edinburgh College. The accounts have been prepared on a going concem basis on the assumption thatffinancial support viill be made available by the colbJe until at least twefve months from the date on which thes8 aco)unts were apwoved. 3 DONATIONS & LEGACIES 2024 2023 Edinburgh Collegé Grant Income Receivgj 282,853 257,813 1.O¢XI 258.813 282,853 In 2024 of the donations and legacies income £0 (2023- £1,000) Vopre attributable to restricted funds and £282,853 (2023 - £257.813) to unrestricted funds. 14
EDINBURGH COLLEGE sTuDETrS ASSOCL4TION ACCOuTrs FOR THE YEAR TO 30 JUNE 2024 (Charity Number. SC028544) NOTES TO THE FINANCIAL STATEMENTS 4 CHARITABLE ACTMTIES & OTHER INCOME CHARITABLE ACTIVMES 2024 2023 NUS Extra mwnbership INVESTMENT INCOME 2024 2023 Interest R8ceivabl8 104 104 53 6 CEKfRAL SERVICES 2024 2023 Hospitalty Miscellaneous Mobile and Intemet subscriptior Advertising, marketing & merchandising Printing, postage & statiOry Equipment Donations & PrEes Travelling & subsisten staff recrUitrnt & training SoftsYar8 costs Hardware costs Lic8nces Conferences offi Expenses 3.085 2,431 556 5.767 2,236 3,392 1,793 875 1.209 115 3,941 1.627 2,743 1,939 18,522 6,421 22.157 Independent examination fees Bank Charges 4,500 73 62 23,084 26.730 15
EDINBURGH COLLEGE STUDElffS' ASSOCIATION ACCOUTrTfs FOR THE YEAR TO 30 JUNE 2024 (Charity Number: SC028544) NOTES TO THE FINANCIAL STATEMENTS 6 SABBATICAL AND STAFF COSTS 2024 2023 Sabbatical Salaries Pension Contributions Relates on-costs 75.101 63,267 13.828 12,423 1,e65 90,594 3,520 79,210 Average number of staff - 3 (2023- 3). No employee receNed ernoluments of more than £60.0(M). 2023 Staff Salaries Pertsion Contributrons Relates on-costs 221.142 181,232 41,057 16.%7 278,896 32.926 12,506 226,664 Average number of staff - 8 (2023- 12). No employee received emoluments of more than £60.000. Of the 8 staff members, 8 staff members (2023- 12) ve attritrArtable to unr8Stricted funds and O staff members (2023- 0) were attributable to restrictgj funds. In 2024 of the total stsff salaries £221,142 (2023- £181,232) were attributable to unrestricted funds and £0 {2023- £0) to restricted funds. 16
EDINBURGH COLLEGE STUDEpifs' ASSOCIATION Accoupifs FOR THE YEAR TO 30 JUNE 2024 (Charty Number. SC028544) NOTES TO THE FINANCIAL STATEMENTS 7 CLUBS AND SOCIEfiES 2024 2023 Table Tennis Game &)ciety 146 146 942 8 SUBSCRIPTIONS AND AFFIUATIONS 2024 2023 NUS 1.080 45 (1,086) 119 79 155 209 14 892 Amazon Prime Liftshare Buffer- Social Media Management Tool Heyzine Mentimeter Streamyard Zoom 9 EVEMfs AND ACTMTIES 2023 Freshers, Fair Mental Healih Campahjn ECSA-Ilence Awards LGBT Event WMHD Event Student Christinas Event NUS Event Tea & Talk Residential Event Breakfast Club Go Green Programme 858 312 217 239 3.355 9,230 872 3.872 17
EDINBURGH COLLEGE sTUDEPs ASSOCJATION ACCOUltrs FOR THE YEAR TO 30 JUNE 2024 (Charity Number. SC028544) NOTES TO THE FINANCIAL STATEMENTS 10 PROJECT FUNDS Analysls of prect Funds Openlng Balance InGome Expendlture Closing Balance Cllmate Challenge Fund 31.927 31.927 Fund8 at 30 June 2024 31.927 31,927 11 TANGIBLE ASSErs 2024 2023 Plant & machlnery Cost at 1 July 2023 Additions for year At 30 June 2024 9.619 9,619 9,619 9,619 Depreclatlon at 1 Juty 2023 Charge for year At 30 June 2024 9,619 9,619 9,619 9,619 Net Book Valuo 18
EDINBURGH COLLEGE STUDEKfs' ASSOCIAMON ACCOUPtrs FOR THE YEAR TO 30 JUNE 2024 (Charity Number. SC028544) NOTES TO THE FINANCIAL STATEMENTS 2024 2023 At q July 2023 At 30 June 2024 110 110 110 At 30 June 2024 the Assoctation hekl investrnents at cost in the folknying companEs which are incorporated in tho United Kingdom. Name of Company NUS SeNices Limtted Whitmuir Communty Fami Limitaj Main Trading Actlvlty Purchasing Servi Organics Fann Equity Held 0.38% 5 shares @£10 13 DEBTORS 2024 2023 Accrutsj Income 101.983 101,983 138,001 138,001 In 2024 accrued income of £101.983 (2023- £138.CK11) rdates to unrestricted fvnds and nil (2023- £0) to restricted funds 14 CREDITORS: Amounts falling due within one year 2024 2023 Accruals 13,506 13,506 9.013 9,013 In 2024 accrued expenditure of £13.506 (2023- £9,013) relates to unrestricted fijnds and nil (2023- £0) to restricted funds. 19
EDINBURGH COLLEGE STUDENTS. ASSOCIATION ACCOUNTS FOR THE YEAR TO 30 JUNE 2024 (Charity Number. SC028544) NOTES TO THE FINANCIAL STATEMENTS 16 RELATED PARTY TRANSACTIONS The Assoaation's main source of funding from Ednburgh College is subj1 to conditions as stated in the Constitution. and the grant avrdrded in this financial year VRS £282.958 (2023 - £257.866). At 30 June 2024, a balance of £101,983 was due to the Association from Edinburgh Col*e in respect of grant funding, and is included within debtors (Note 13) (2023- £138.001). Subsequent to the year end this amount has been ved. The Assoaation OCpieS a room at 8ach of the four campus locations on a Mt-free basis, under an infomal licen, subject to the Union maintaining the rooms in a good state of repair. The Association vmuld not seek to rent commercial premises rf these rooms ve not available on campus and so th8 donation of these facilits'es És not quantified in the accounts. The Trustees of the Associalion are the members of the Board as previojsly listed on page 3. The Full Time Officers of the Board r1ve remuneration for services as provided for within the Constitution. The aggregate amourrt payable under such contracts in the year vras £90.594 (2023 - £79,210). 20
EOINBURGH COLLEGE STUDENTS. ASSOCIATION ACCOUNTS FOR THE YEAR TO 30 JUNE 2024 (Charity Number. SC028544) NOTES TO THE FINANCIAL STATEMENTS 16 FUNDS Unrestricted Fund Reslrf¢ted Fund Tolal 2023 Total 2023 At 1 July 2023 Incoming resour durKvJ the year Resources expended durirKJ the year 102,081 31.927 134,IxI8 133,446 282.958 282,958 258,886 (313,783) (313,783) (258,304) Gross transfers between funds At 30 June 2024 71,256 31,927 103,183 134,008 The unrestricted funds held at 30 June 2024 are used in a(rdan with the Constitution. policies and direction from the college and in furthwance of the obiectsves and acaivit* of th8 Students. A$slatiOn. The restricted funds hekl at 30 June 2024 are used in accordan(% with the tenns and conditions of the Climate Challenge Fund in furtheran of the otrlectives of the rKoiect it is funding. 17 cofrrrROLLING PARTY The Assoriation is controlled by its Board of Trustees. The uttimate control of the Unron is vested under the Constttution in the membership in General meeting. As suth. no single person or entity controls Association as defined by Financial Reporting Standard 8. 21