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An annual report and accounts of the University of Sheffield Students' Union for the year ended 31 July 2018. It outlines the Union's strategic themes, including My Academic Life, My Social Life, My Everyday Life, and Enablers. The report details various projects and initiatives under each theme, such as academic representation, student-led curricula, food van, housing manifesto, and zero waste. Additionally, it includes financial information, including income, expenditure, and cash balances.
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Trustees’ Report 1
Administrative information 10
Statement of Trustees’ Responsibilities for the Trustees’ Annual Report and the Financial Statements
Independent Auditor’s Report to the Trustees of University of Sheffield Students’ Union
Consolidated Statement of Financial Activities 18
Consolidated Balance Sheet 20
Charity Balance Sheet 21
Cashflow Statement 22
Notes to the Accounts 23
The Board of Trustees present their Annual Report for the year ended 31 July 2018 which includes administrative information together with the audited accounts for the year.
I’m very proud to start this report by sharing that we’ve been awarded the title of No. 1 Students’ Union in the Times Higher Education Student Experience Survey, for the tenth year in a row. This means that we’ve been a leader of students’ unions across the country for a decade, an incredible achievement. As President, I lead the first all-female Officer team at the Students’ Union, a result of a successful campaign encouraging women to run for leadership roles, an example of our dedication to empowering our students.
We were delighted to collect the ‘Best Students’ Union’ award in the What Uni Choice awards, the ‘Top SU’ award in the Which? University Student Survey. We received a ‘Very Good’ in our Green Impact award, and our Film Unit society received the prize for the ‘Best Student Cinema’ in the national Film Society Awards. Our Nursery successfully completed its Ofsted report achieving Outstanding in the category of Personal development, behaviour and welfare.
From a resources perspective, we continue to be in a healthy and sustainable position, all of our staff structures are in place and we have a surplus in our accounts.
The ‘Ours for Life’ strategy is in its second year and continues to be an ambitious and targeted vision for the improvement of our organisation and the benefit of our members over the next seventeen years.
As a Trustee Board, we continue to be aware of both our responsibility to our members, and to ensuring the sustainability of the Students’ Union. I look forward to continuing to lead the Students’ Union, and chair the Trustee Board throughout this year.
Our purpose is clear in our constitution, “The Students’ Union shall advance the education of students at the University of Sheffield for the public benefit by:
● representing the students of the University locally and nationally, organising services and activities to meet their needs, and providing opportunities for their involvement and personal development. ● taking positive measures to encourage and build a student community which respects and celebrates the diversity of its membership, and seeking to create an environment in which individuals and groups of students are free from discrimination, harassment and intimidation on Students’ Union premises or in events and activities organised by the Students’ Union. In meeting the needs of all students, the Students’ Union may provide services and activities for the exclusive use of specific groups.”
In short, our purpose is representing, supporting and enhancing the lives of University of Sheffield students.
In the year 2016-17 we launched a new strategy, Ours for Life. This has a long-term aspiration of ensuring our members have the best university experience. There is a strong focus on removing barriers for students, and taking a long-term view to ensure we are relentlessly pursuing our ambitious plans.
Our vision is long-term in its ambition and scope and takes the form of a promise to “the student born today”, about what they can expect from student life by the time they come to university:
Improving our students’ lives across five strategic themes is the heart of our strategy:
We partner with the University to transform students’ HE experience: curriculum development and co- creation, peer support, and national representation. We support students through their academic life: collectively and individually, providing advice, advocacy and representation. In short, we make sure every student feels engaged with their education, part of a learning community and supported to fulfil their individual potential.
Our Goals and actions in this theme: Representation : our students create, shape and influence their education at every level.
Communities : the Students' Union fosters intellectual communities; supporting students to develop and feel part of vibrant learning communities.
Equality : we champion an education that is equal for all; our diverse student body is celebrated, feels supported and well represented. We support student academic representatives in their roles within the university. Thousands of students regularly participate in university committees to ensure the student voice is heard in decisions from programme level up to University Council. The Academic Awards this year attracted over 560 nominations from staff and students representing departments across the University. Development work during 2017-18 focused on the Academic Representation Review, led by the Education Officer in partnership with the University. ‘Academic Reps’ will be volunteers rather than elected, which will remove barriers to entry for students from all backgrounds and departments. Academic departments are encouraged to recruit as many academic reps as interested, ideally working towards a ratio of 1 rep to every 15 students. Other improvements include a fully-fledged training programme around enquiring, negotiating and campaigning. There is a revamped online presence for Academic Reps and staff alongside a searchable database so students can find their rep more easily. We will over the next couple of years improve our engagement with Academic Reps and establish them as a core part of our student voice within the Students' Union. Stage 1 of the recommended changes will be implemented for 2018/19 academic year.
All students have an important life beyond the formal curriculum. We want to help them all discover, engage in and lead activities about which they are passionate and inquisitive. They will work collaboratively to support communities. We want them to have fun. We want to make sure they find their place in this large and friendly community.
Our Goals and actions in this theme: Knowing our students and what they need, in the building and externally.
The building/services adapts to the needs of our members. Create a 52-week wraparound experience of Sheffield for our members.
Supporting our students’ social life has been at the centre of our work for over 100 years. We provide student focussed services from many different venues in and around the Students’ Union building and beyond. Bar One and Interval Café Bar are open day and night serving food, alcoholic and non-alcoholic drinks. Our Shop provides food, drink, stationery, cards, newspapers and other convenience items. Our Sheffield sells a range of University branded clothing and gifts. Coffee Revolution remains a popular outlet for socialising through the day and into the evening and this year
we successfully completed a refurbishment, which included extending the service into a non-alcoholic night time space.
Other food outlets include New Leaf, our healthy salad bar; Pearls, selling bubble tea, and Proper Pasty, selling authentic pasties and baked goods. We employ some 600 student staff across most of our outlets and departments.
On top of this, we provide services such as our Box Office, where we sold 196,382 tickets at a value of £1.34 million. This year we have improved our online ticketing service to make transactions smoother and quicker. Our Events team supported over 350 events with 183 of them being student-led. Activities worthy of particular mention are the World Food Festival and InterVarsity Folk Dance Festival. On top of these Give it a Go ran 660 events, selling 8,286 tickets. We also hosted, organised and delivered a successful National Student Television Awards and Conference, recognising and encouraging sector-leading student media. Working with Sport Sheffield we ensured beginner level sports were available for students to try throughout the year, ensuring students have more opportunities to engage in sport and subsequently improve their wellbeing.
Over the course of 2017-18, the Students’ Union delivered over 134 club night events and 25 gigs attracting over 152,000 people. Six food and drink festivals also took place, including the Vegan Festival, Prosecco Festival, Beer Festival and Gin Festival.
This theme is about helping students see and take their place in the world. Sheffield is informally known as ‘the largest village in England’: our students have a place in their city, country and the world. They will make global connections and champion worldwide causes, whether that is learning a new language, making friends from around the world, celebrating together, or campaigning for social, political and environmental justice.
Our Goals and actions in this theme: Meeting others, learning about their cultures, and making global connections. Working towards an inclusive Sheffield community.
Taking action for environmental sustainability and climate justice. Our International Students Committee have a long history of delivering events to show the world a global life. The World Food Festival, International Cultural Evening and World Week were successful as ever and well attended. We continue to play our part in the #WeAreInternational campaign which we jointly founded with the University. We opened the first Zero Waste shop in Sheffield in April and it has sold over 350kg bulk wholefoods, 500 reusable bottles and has over 1,700 followers on its Facebook page. We continue to prioritise sustainability as a core issue for the organisation and our students who have rejuvenated their committee to ensure staff and students are working in partnership.
We commissioned a Cultural Competency report, which was delivered in June and has formed the basis for our future planning in this crucial area.
We have a long tradition of encouraging our students get involved in their local community. Last year, our students volunteered their time for 165 different voluntary organisations and schools. In particular, 68 student-led projects each had a unique contribution (for example a homelessness & begging street outreach team; a children's bereavement network; dance classes with survivors of human trafficking or food poverty workshops in schools).
Your development: opportunities to learn and develop relevant skills to support your future aspirations. Your achievements : have the ability to confidently articulate your skills and experiences.
You in society: have the passion and confidence to actively participate in society and make a positive contribution. We routinely run hundreds of training sessions for our student leaders to succeed and excel in their roles on Students’ Union and society committees and other volunteering roles. This training and the student leadership opportunities allow thousands of students to develop skills for the future.
We have run our 100 hours Third Sector Placement Scheme for the second year and supported 13 students to get paid charity sector experience during the summer. Funded by a generous alumnus, it supports students who've experienced barriers to substantial community engagement, such as working or health reasons. We continue to offer ‘Taste of Work’ experience in the Students’ Union for students who have limited work experience, to help them boost their skills and employability.
As an unincorporated association, student ownership is at the heart of our foundation. As such we have a variety of practices which ensure students have a strong voice and power in the Students’ Union, University and wider community. Our activities all have student oversight at some level. 13 of our 17 Trustees are students, with eight of them working full time as Students’ Union Officers elected by students.
Elections are a common event in the Students’ Union: 265 students were nominated as election candidates during the year (11% increase on previous year) and 11,825 voter turnout (10% decrease on previous year) collectively across the range of elections: Students’ Union Council, Referenda topics, Student Trustees, Student Officers and NUS Delegates.
We supported 20 student-led campaigns across the year. The single biggest piece of campaigning activity, led by Officers, was #SaveStaffPensions. Other key campaigns include Take Racism Seriously, in part developed in response to an incident at last year's Varsity and led by BME committee, as well as 'She Should Run' encouraging women to run for Officer positions culminating in an all-women Officer team 2018-19.
Throughout all of our campaigns our students were actively engaged. We maintained open dialogue with the university, and some significant media coverage.
Our decision making processes are democratic and we support students to submit ideas to forums, take part in Students’ Union Council and to start petitions, all of which can lead to referenda for Students’ Union policy.
Our 24 working committees and representative committees are made up entirely of students who directly plan and deliver a wide range of services, events and campaigns for their peers. They represent and promote the views and interests of the student body on their remit and provide a service for all members of the University of Sheffield student population.
Some three thousand of our members give their time on a voluntary basis to contribute to Sheffield Students’ Union through their activities in Committees and Societies.
We have 24 Working and Representative Committees lead by elected students. One of those Working Committees supports over 350 societies who organise activities for other students and ensure Sheffield Students’ Union remains vibrant, with a diverse range of activities available to all students. We approved 38 new Societies last year. 98% of our Societies held AGMs, demonstrating the democratic process being embedded in our groups. The staff team provides advice, support and training to over 2,900 students who hold leadership positions on Society and Working & Representative committees, with over 120 training sessions and 2,000+ training attendances in the year. The team ensure all activities are run safely, democratically and inclusively.
Our Sports committee supported the Varsity competition against Sheffield Hallam University students to great success again, with our students raising the trophy for a sixth consecutive year.
Our goal for 2017-18 was to produce another sustainable surplus, building on the growth in Social Enterprise activity reported in the prior year, and managing costs carefully. There were a number of challenges in the year; the closure of Coffee Revolution for refurbishment; the impact of the University concourse works on footfall (which was completely outside of our control) and staff costs with the new cost of the apprenticeship levy and national minimum wage and living wage increases. The budget agreed by Trustees for 2017-18 was £15k surplus. The actual result delivered was a small surplus of £5k which although less than we would have liked was quite an achievement given the challenges. This provides a stable base from which to continue to develop activity in line with the “Ours for Life” strategy whilst continuing to provide the consistent and wide-ranging service that our students and student groups value and rate so highly.
Our trading turnover increased by 1% over that achieved in 2016-17. For a third year we saw growth in entertainment led late night activity resulting in an improved return from the events themselves and a further small increase in associated drinks sales. Retail and daytime catering performance suffered from the footfall issues noted above. The investment in Coffee Revolution was well received by students and its performance was encouraging by the end of the year. Occupancy numbers in the Nursery were good, but some long term sickness issues impacted on its outturn.
Savings were also made in other areas much of which related to staff vacancies due to natural staff turnover and the timing of recruitment. This year some of this saving was offset but higher than expected costs relating to maternity and apprenticeship levy. There was an underspend on student led activity and we continue to actively work with managers, student leaders and student groups to improve their financial knowledge to ensure they are able to use allocated resources effectively.
The University have continued to be supportive with a £3.27m base line subvention settlement that increased with inflation. We have received confirmation of the rolling three year funding agreement albeit without inflationary increases for the second and third years. This does still provide a level of certainty as we plan our core activity.
The £5k surplus has had a negligible effect on the balance sheet with total net assets remaining at £1.68m. The cash balance has fallen slightly from £1.98m to £1.97m. Our unrestricted funds stood at £1.64m with a further £42k of restricted funds. Our general reserve fell slightly to £769k, due to the increase in investment in Fixed Assets during the year, but still meets the reserves policy target. Our current financial strategy requires careful management of resources in order to achieve our strategic aspirations with a focus on securing sufficient stable funding streams for core activity, identifying new income and carefully managing expenditure to deliver value for money. With the removal of inflationary increases to our subvention this will be even more important over the next few years. We will continue the review of some key aspects of our service provision in order to deliver results that support the achievement of our reserves target.
Cash deposits are placed in a range of interest bearing accounts with terms varying between instant access and 2 years to ensure access to working capital as required, but with a view to maximising interest income where possible.
We recognise the hard work and dedication of our talented staff team and their role in the delivery of a surplus result. Our organisation is very lean, but front line service delivery to our members is always prioritised. This is recognised by our members and nationally in our receipt of the ‘Best Students’ Union’ award in the What Uni Choice awards, and the ‘Top SU’ ranking in the Which? University Student Survey.
The Constitution of the Students’ Union explicitly gives the power to invest money not immediately required and to delegate the management of such funds.
Themes My Academic Life Academic Rep review Informed choices & accessible processes Student led curricula My Social Life Food Van My Place in the World Audit to identify activity across both SU and University in relation to a) international students b) integration c) globalisation Audits & action plans on how to meet strategic aims on a) Zero Waste b) normalised sustainable diets Eliminate Single Use Coffee Cups Our Zero Waste Shop Post study work access Recycling/ waste stream improvement Single Use Plastic Free SU My Everyday Life Create persona financial scenarios (budgets) Housing Manifesto Transport Enablers Student Leadership and Democracy
Coaching Service Democracy review Link Corridor Review of Working & Representative Committee Support Strong Relationships Creating a knowledge base of student journeys Students' Union Role in Sport Understanding our Asian student population Resources Beach Hut Area Reconfiguration Building Masterplan Employee benefits Events systems & processes Health & Wellbeing Assessment New Leaf Development Nursery Development Paperclip Wayfinding Digital and Data Ticketing & Door Entry A new website for Sheffield SU Data Warehouse Developing Digital Confidence in Sheffield SU Employees EPOS Specification My Student Life
Charity Name: University of Sheffield Students’ Union Other Names: Sheffield Students’ Union Registered Charity Number: 1147855 Principle Address: Sheffield University Students’ Union, Western Bank, Sheffield, S10, 2TG
Our advisers
Auditor KPMG LLP 1 Sovereign Square Sovereign Street Leeds LS1 4DA
Bank NatWest Sheffield Commercial Banking Centre 1 st^ Floor, 1 St Paul’s Place 121 Norfolk Street Sheffield S1 2JF
Solicitor – Property advice Keeble Hawson LLP 14 Prince’s Street Doncaster DN1 3NJ
Solicitor – General advice DLA Piper UK LLP 1 St Paul’s Place Sheffield S1 2JX
Solicitor – Charity law advice Wrigleys Solicitors LLP 19 Cookridge Street Leeds LS2 3AG
Officer Trustees to 24.06.18 from 25.06. President and Chair Kieran Maxwell Lilian Jones Activities Officer Thomas Brindley Cecelia Hudson-Molinaro Women’s Officer Celeste Jones Mayeda Tayyab Education Officer Stuart McMillan Anna Crump Raiswell International Students’ Officer Santhana Gopalakrishnan Roxanne Bechu Sports Officer Florence Brookes Sarah Morse Development Officer Megan McGrath Melanie Kee Welfare Officer Reena Staves Katharine Swindells
Student Trustees External Trustees Julia Hodder (from 01.07.17 to 21.11.17) Anita Chib (to 30.6.18) Michael Barge (from 01.07.17) John O’Leary (to 30.6.18) Robbie Morgan (from 01.07.17) Helen Mackenzie Cate O'Brien (from 01.07.17) Mark Simpson Mayeda Tayyab (from 19.10.17 to 24.06. 1 8) Paul White (from 01.07.18) Benjamin Hawker (from 14.12.17) Dan White (from 01.07.18) Francesca Boyd (from 01.07.18)
Sheffield Students’ Union employs a Chief Executive, Jaki Booth, who works closely with the Students’ Union Officers (listed above) and the Senior Leadership Team: Director of Digital Transformation – Richard Copley, Director of Membership Engagement – Lisa Scanlon, Director of Resources – Lucy Pritchard and Director of Social Enterprise – Chris Aucott.
c. Approve the Authorisation Limits d. Approve expenditure over limits set in the Authorisation Limits Table
e. Approve financial policies f. Oversee matters relating to the trading activity and service delivery of the Students’ Union.
Audit and Risk
a. Review and oversee the SU’s audit framework, approve audit systems and ensure that audit checks are carried out
b. recommend appointment of auditors and bankers c. Oversee the Internal Audit activity d. Review internal and external audit reports and monitor implementation of any recommendations e. Review and update the risk management policy and oversee its implementation
f. Oversee SU compliance with all relevant laws and regulations
Human Resources and Remuneration
a. Approve HR and staffing policies and monitoring their effectiveness b. Receive and consider annual staffing report and results of staff surveys
c. Consider and approve the pay award for Students’ Union staff and oversee significant changes to staff pay and rewards system, making recommendations to the Trustee Board. d. Consider and approve processes for salary reviews.
e. Responsible for the appraisal and performance management of the Chief Executive (making recommendations to the Trustee Board)
f. Consider matters relating to the pay and conditions of employment of the Senior Management Team and make recommendations to the Trustee Board
g. Oversee SU compliance with employment legislation h. Oversee the employer relationship with Trades Unions i. Review effectiveness of any external agencies responsible for HR issues
Strategy, Development and Insight Committee
a. SU Strategy:
i. Oversee the development and implementation of organisational strategic and business plans. ii. Monitor delivery of the SU’s objectives and performance of SU services
b. Development i. Consider the development of the SU facilities and the allocation of space
ii. Consider major strategic projects ahead of finalising plans c. Insights
i. Oversight of research activity ii. Review of routine market research, satisfaction information and data insights.
Nominations and Board Effectiveness
a. Fulfil the responsibilities of the Nominations Committee established in Bye Law 5 (you can view Bye Law 5 here – page 22.)
b. Plan and ensure delivery of Trustee induction programme and subsequent training requirements c. Plan and ensure the delivery of individual and collective trustee performance, effectiveness and development reviews.
d. Maintain oversight of the register of interests and gifts/donations e. Develop and implement improvements to Trustee Board effectiveness.
The Trustee Board and constitutional documents delegate authority throughout the organisation for the operational delivery of the Students’ Union’s activity.
The Students’ Union is a democratic membership organisation with the eight Students’ Union Officers and fifty-six student members of Students’ Union Council elected by and from students. Students’ Union Officers report to Students’ Union Council on their objectives and activities and are held to account by Council. Students can put forward ideas for policy or debate to Students’ Union Council, which may then be referred to a referendum of all students. Whenever possible, the Students’ Union seeks to act in accordance with the views of its members, as expressed through referendum or by the elected members of Students’ Union Council. However, the Trustee Board does have the power to override any decision of referendum or Council which is in breach of charity or education law or other legal requirements, or which is considered not to be in the best interests of the Students’ Union or its charitable objectives.
Related parties
We have considered any conflicts of interest and there are none to disclose.
Relationship with the University of Sheffield
The Students’ Union has a formal relationship with the University of Sheffield. This is expressed in a jointly endorsed relationship agreement that sets out principles, and also by a code of practice which governs the formal interaction between the two organisations. The University of Sheffield has a statutory duty under the Education Act 1994 to ensure, such as is reasonably practicable, that the Students’ Union operates in a fair and democratic manner and it is responsible in management of its finances. The code of practice outlines how this statutory obligation is met. In addition, changes to the Students’ Union’s Constitution and certain bye-laws require the approval of the University Council or Senate.
Relationship with Subsidiary Companies
SUSU Services Limited is a limited liability company wholly owned by the University of Sheffield Students’ Union. The company operates a number of services provided to a mix of students and non-students.
Union Leisure Limited is a wholly owned subsidiary of SUSU Services Limited that is now dormant.
Relationship with the National Union of Students
The Students’ Union is a member of the National Union of Students (NUS). This is a national confederation of Students’ Unions. The Students’ Union co-operates with NUS and other Students’ Unions in pursuit of some of its charitable objectives. This cooperation relates mainly to campaigning on national student issues and support from NUS with organisational development.
Pay policy for senior staff
The salaries of the Senior Leadership Team are determined by the Human Resources and Remuneration Committee within the Pay Zone and Band structure applicable to all employees and with reference to appropriate sector and market salary levels.
Risk Management
The Trustee Board is responsible for ensuring that the Students’ Union has a robust approach to the management of opportunities and risks, and the Audit and Risk Committee reviews the highest strategic level
Responsibilities of the Trustee Board
Statement of the Trustee Board’s responsibilities in respect of the Annual report and the Financial Statements
Under the Constitution and Bye-Laws of the Students’ Union and charity law, the Trustees are responsible for preparing the Trustee’s Annual Report and financial statements for each financial year which show a true and fair view of the state of affairs of the group and the charity and of the group’s and charity’s excess of income over expenditure for that period.
The Trustees have elected to prepare the financial statements in accordance with FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland.
In preparing these financial statements, generally accepted accounting practice entails that the Trustees:
The Trustees are required to act in accordance with the Constitution and Bye-Laws of the Students’ Union, within the framework of charity law. They are responsible for keeping proper accounting records, sufficient to disclose at any time, with reasonable accuracy, the financial position of the charity at that time, and to enable the Trustees to ensure that, where any statements of accounts are prepared by them under section 132(1) of the Charities Act 2011, those statements of accounts comply with the requirements of regulations under that provision. They are responsible for such internal control as the determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error, and have general responsibility for taking such steps as are reasonably open to them to safeguard the assets of the charity and to prevent and detect fraud and other irregularities.
The Trustees are responsible for the maintenance and integrity of the financial and other information included on the charity’s website. Legislation in the UK governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
Independent auditor's report to the Trustees of University of Sheffield Students’ Union
Opinion We have audited the group and charity financial statements of University of Sheffield Students’ Union for the year ended 31 July 2018 which comprise the Consolidated Statement of Financial Activities, the Charity Statement of Financial activities, the Consolidated Balance Sheet, the Charity Balance Sheet, the Cash flow statement and related notes, including the accounting policies in note 1.
In our opinion the financial statements:
Basis for opinion We have been appointed as auditor under section 144of the Charities Act 2011 (or its predecessors) and report in accordance with regulations made under section 154 of that Act. We conduct our audit in accordance with International Standards on Auditing (UK) (“ISAs(UK)”) and applicable law. Our responsibilities are described below. We have fulfilled our ethical requirements including the FRC Ethical Standard. We believe that the audit evidence we have obtained is a sufficient and appropriate basis for our opinion.
Going Concern We are required to report to you if we have concluded that the use of the going concern basis of accounting is inappropriate or if there is undisclosed material uncertainty that may cast significant doubt over the use of that basis for a period of at least twelve months from the date of approval of the financial statements. We have nothing to report in these respects.
Other information The trustees are responsible for the other information, which comprises the Trustee’s Annual Report and Administrative information. Our opinion on financial statements does not cover the other information and, accordingly, we do not express an audit opinion or, except as explicitly stated below, and form of assurance conclusion thereon. Our responsibility is to read the other information, and in doing so, consider whether, based on our financial statements audit work, the information therein is materially misstated or inconsistent with the financial statements or our audit knowledge. We are required to report to you if:
Matters on which we are required to report by exception Under the Charities Act 2011 we are required to report to you if, in our opinion:
Trustees’ responsibilities As explained more fully in their statement set out on page 15, the trustees are responsible for: the preparation of financial statements which give a true and fair view; such internal control as they determine
Consolidated Statement of Financial Activities for the year ended 31 July 2018
Note Unrestricted Funds
Restricted Funds
2018 2017
Income and Endowments from £ £ £ £ Incoming Resources from Generated Funds Donations and Legacies University Grant 3,265,500 - 3,265,500 3,188, Activities for Generating Funds - Children’s Services 596,280 - 596,280 552, Rental Income 34,497 - 34,497 37, Sponsorship and Advertising Income 467,435 - 467,435 483, Investment Income Interest Receivable 5,060 - 5,060 5, Incoming Resources from Charitable Activities for Students Bars and Catering 2,638,949 - 2,638,949 2,641, Venues and Entertainments 2,127,721 - 2,127,721 1,992, Retail 1,432,115 - 1,432,115 1,525, Member Services 213,517 - 213,517 185, Membership Engagement 497,534 184,115 681,649 704, Other Income 112,993 - 112,993 115,
Total Incoming Resources 11,391,601 184,115 11,575,716 11,433,
Resources Expended Costs of Raising Funds Children’s Services 704,721 - 704,721 658, Sponsorship and Advertising Income 207,123 - 207,123 208, Charitable Activities for Students Bars and Catering 2,883,882 - 2,883,882 2,839, Venues and Entertainments 1,635,191 - 1,635,191 1,620, Retail 1,391,918 - 1,391,918 1,418, Member Services 2,228,458 - 2,228,458 2,105, Membership Engagement 2,164,942 174,059 2,339,001 2,291, Rental Costs 180,131 - 180,131 180, Exceptional Redundancy Costs - - - -
Total Resources Expended 2-9 11,396,366 174,059 11,570,425 11,323,
Net Incoming/(Outgoing) Resources for the year (4,765) 10,056 5,291 110, Fund balances brought forward at start of year 1,641,394 31,596 1,672,990 1,562, Total funds carried forward 1,636,629 41,652 1,678,281 1,672,
The notes on pages 23 to 33 form part of these Financial Statements.
Charity Statement of Financial Activities for the year ended 31 July 2018
Note Unrestricted Funds
Restricted Funds
2018 2017
Income and Endowments from £ £ £ £ Incoming Resources from Generated Funds Donations and Legacies University Grant 3,265,500 - 3,265,500 3,188, Compensation Grant - - - - Investment Income Interest Receivable 14,323 - 14,323 13, Incoming Resources from Charitable Activities for Students Bars and Catering 2,638,949 - 2,638,949 2,641, Venues and Entertainments 2,127,721 - 2,127,721 1,992, Retail 1,432,115 - 1,432,115 1,525, Member Services 213,517 - 213,517 185, Membership Engagement 502,442 184,115 686,557 708, Other Income 112,993 - 112,993 115,
Total Incoming Resources 10,307,560 184,115 10,491,675 10,371,
Resources Expended Charitable Activities for Students Bars and Catering 2,862,845 - 2,862,845 2,815, Venues and Entertainments 1,628,425 - 1,628,425 1,611, Retail 1,386,988 - 1,386,988 1,413, Member Services 2,265,584 - 2,265,584 2,157, Membership Engagement 2,158,446 174,059 2,332,505 2,280, Rental Costs 71,000 - 71,000 71, Exceptional Redundancy Costs - - - -
Total Resources Expended 2-9 10,373,288 174,059 10,547,347 10,349,
Net Incoming/(Outgoing) Resources for the year (65,728) 10,056 (55,672) 21, Fund balances brought forward at start of year 1,702,716 31,596 1,734,312 1,712, Total funds carried forward 1,636,988 41,652 1,678,640 1,734,
The notes on pages 23 to 33 form part of these Financial Statements.
