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UNIVERSITY OF SOUTHAMPTON STUDENTS’ UNION

ACCOUNTS FOR THE YEAR ENDED 31 JULY 2008 Page Organisation and Administration

1

Auditors’ Report

2

Balance Sheet

3

Income and Expenditure Account

4

Cash Flow Statement

5

Notes to the Accounts

6 – 11

Appendix 1 : Consolidated Union Income and Expenditure Account

12

Appendix 2 : SUSU Café Trading Account

13

Appendix 3 : Travel Centre Trading Account

14

Appendix 4 : Union Shop Trading Account

15

Appendix 5 : Venue Trading Account

16 – 17

Schedules to the Income and Expenditure Account

18 – 26


UNIVERSITY OF SOUTHAMPTON STUDENTS’ UNION ORGANISATION AND ADMINISTRATION

____________________________________________________________________________________

OBJECTS The Students’ Union exists to: a) b) c) d)

afford a recognised channel of communication between students and the rest of the University; promote the general interest of students; provide and further welfare, social, cultural, recreation and athletic facilities; foster amicable relations within The University, with other bodies and the general public.

Address:

University of Southampton Students’ Union Highfield Southampton SO17 1BJ

Officers:

President Other Executive Officers Administrative Officers Honorary Officers Secretary and Licensee (George R Clegg)

Auditors:

Mazars LLP 8 New Fields 2 Stinsford Road Nuffield Poole Dorset BH17 0NF

Bankers:

Lloyds TSB Plc Commercial Service Gracechurch House 23/35 Castle Way Southampton SO14 2BW

STATEMENT OF PRESIDENT’S RESPONSIBILITIES Standing Order 2.2 (a) (i) of the University of Southampton Students’ Union Constitution states ‘inter alia’ that the President shall cause annual accounts to be prepared and will be responsible for the presentation of these to the appropriate committees.

1


UNIVERSITY OF SOUTHAMPTON STUDENTS’ UNION INDEPENDENT AUDITORS’ REPORT TO THE MEMBERS OF UNIVERSITY OF SOUTHAMPTON STUDENTS’ UNION

____________________________________________________________________________________

We have audited the financial statements which comprise the balance sheet, income and expenditure account, cash flow statement and related notes which have been prepared under the historical cost convention and the accounting policies set out on page 6. This report is made solely to the entity’s members as a body. Our audit work has been undertaken so that we might state to the entity’s members those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the entity and the entity’s members as a body, for our audit work, for this report, or for the opinions we have formed.

Respective responsibilities of President and auditors As described on page 1 the President is responsible for the preparation of financial statements. Our responsibility is to audit the financial statements in accordance with relevant legal and regulatory requirements and International Standards on Auditing (UK and Ireland). We report to you our opinion as to whether the financial statements give a true and fair view. We also report to you if, in our opinion, the entity has not kept proper accounting records or if we have not received all the information and explanations we require for our audit.

Basis of opinion We conducted our audit in accordance with International Standards on Auditing (UK and Ireland) issued by the Auditing Practices Board. An audit includes examination, on a test basis, of evidence relevant to the amounts and disclosures in the financial statements. It also includes an assessment of the significant estimates and judgements made by the President in the preparation of the financial statements, and of whether the accounting policies are appropriate to the entity’s circumstances, consistently applied and adequately disclosed. We planned and performed our audit so as to obtain all the information and explanations which we considered necessary in order to provide us with sufficient evidence to give reasonable assurance that the financial statements are free from material misstatement, whether caused by fraud or other irregularity or error. In forming our opinion we also evaluated the overall adequacy of the presentation of information in the financial statements.

Opinion In our opinion the financial statements give a true and fair view of the state of the entity’s affairs as at 31 July 2008 and of its result for the year then ended.

MAZARS LLP Chartered Accountants and Registered Auditors Poole Date:

2


UNIVERSITY OF SOUTHAMPTON STUDENTS’ UNION BALANCE SHEET AS AT 31 JULY 2008

____________________________________________________________________________________ Note

Fixed assets Investments Current assets Stock Debtors Cash at bank and in hand

Current liabilities Creditors

£

5 6 7

8

£

£

2007

100 77,343 218,231 487,019 _______

791,094

782,593

(732,229) _______

(408,601) _______

Net assets

9

John Mills Finance Manager

58,865 _______

373,992 _______

58,965

374,092

58,965

374,092

Alex Tanfield President

Date:

The notes on pages 6 – 11 form part of these accounts.

3

£ 100

95,445 327,271 368,378 _______

Net current assets

Represented by: Reserves

2008


UNIVERSITY OF SOUTHAMPTON STUDENTS’ UNION INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 JULY 2008

____________________________________________________________________________________ Note

Union Grant from the University Other non-trading income (net) Expenditure on Union activities (net)

Trading activities Deficit/surplus arising on the SUSU Café trading account Deficit arising on the Travel Centre trading account Surplus arising on the Union Shop trading account Surplus arising on the Venue trading account

2008 £

2007 Restated £

1,977,000 36,344 (2,072,621) ________

1,802,024 41,795 (1,814,325) ________

(59,277)

29,494

(29,796) (24,356) 86,169 14,893 ________

14,680 (27,139) 55,279 4,318 ________

Net deficit/surplus before fixed asset expenditure

9

(12,367)

76,632

Transfer from reserves in respect of fixed asset expenditure

9

(302,760) ________

(220,572) ________

(315,127)

(143,940)

Net deficit for the year

The notes on pages 6 – 11 form part of these accounts.

4


UNIVERSITY OF SOUTHAMPTON STUDENTS’ UNION CASH FLOW STATEMENT FOR THE YEAR ENDED 31 JULY 2008

____________________________________________________________________________________ Note

2008 £

2007 £

Net cash inflow from operating activities

12

162,915

83,940

Returns on investments

13

21,204

23,541

Capital expenditure and financial investment

14

(302,760)

(220,572)

_______

_______

(118,641)

(113,091)

Decrease in cash in the period

RECONCILIATION OF NET CASH FLOW TO MOVEMENTS IN NET FUNDS Decrease in cash in the period

(118,641) _______

(113,091) _______

(118,641)

(113,091)

Opening net funds at 1 August 2007

487,019 _______

600,110 _______

Closing net funds at 31 July 2008

368,378

487,019

Change in net funds in the period

15

The notes on pages 6 – 11 form part of these accounts.

5


UNIVERSITY OF SOUTHAMPTON STUDENTS’ UNION NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 JULY 2008

____________________________________________________________________________________

1.

2.

ACCOUNTING POLICIES (a)

The accounts are prepared under the historical cost convention.

(b)

The cost of fixed assets is written off to the Income and Expenditure Account and trading accounts in the year of purchase and proceeds from the disposal of fixed assets are credited to the Income and Expenditure Account and trading accounts.

(c)

Investments are stated at the lower of cost and net realisable value.

(d)

Stocks are stated at the lower of cost and net realisable value.

(e)

Income and expenditure is accounted for on a receivable and payable basis, except for interest on bank deposits which is accounted for on a receipts basis.

TAXATION The University of Southampton Students’ Union is exempt from taxation under Section 505, ICTA 1988.

3.

PRIOR YEAR ADJUSTMENT Two adjustments have been made to the 2007 figures. Firstly the £21,500 grant to the Travel Centre has been reversed as it was decided that the department should show its true result, no further grants are to be made. Secondly, some Venue ticket sales as agent, totalling £28,488, had been shown as turnover and cost of sale, it is more appropriate to net these figures off to better reflect the substance of the transaction. Neither of these changes have affected the overall profit of the Union, but are simply reclassifications.

4.

RELATED ENTITIES Separate accounts are prepared for the following entities and therefore their assets and liabilities have not been included in these accounts: a) b)

University of Southampton Students’ Union Club. University of Southampton Students’ Union Rag Appeal.

6


UNIVERSITY OF SOUTHAMPTON STUDENTS’ UNION NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 JULY 2008

____________________________________________________________________________________

5.

INVESTMENTS Shares held Shares in Brassbound Limited – valued at cost

2008 £

2007 £

100 ______

100 ______

100

100

The Directors of Brassbound Limited hold the shares in trust for the benefit of the Students’ Union. The investment represents 100% of the issued share capital of Brassbound Limited.

6.

STOCKS Union Shop SUSU Café Bars Union Films

7.

DEBTORS Amounts due from University of Southampton Other debtors and prepayments

8.

CREDITORS Amounts due to University of Southampton Other creditors and accruals

7

2008 £

2007 £

60,469 8,253 26,231 492 ______

40,050 9,557 27,417 319 ______

95,445

77,343

2008 £

2007 £

159,097 168,174 ______

72,736 145,495 ______

327,271

218,231

2008 £

2007 £

351,203 381,026 ______

80,091 328,510 _______

732,229

408,601


UNIVERSITY OF SOUTHAMPTON STUDENTS’ UNION NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 JULY 2008

________________________________________________________________________________________________________________________________

9.

RESERVES

(INCLUDING FIXED ASSET EXPENDITURE)

Non-trading reserves Consolidated reserve (schedule 15 unaudited) Trading reserves Total reserves - before commitments (see Note 9)

Surplus/ (deficit)

Balance 1 August 2007 Restated £

£

Transfer from reserves (fixed asset expenditure) £

681,808

(59,277)

(71,757)

(307,716)

46,910

(231,003)

374,092

(12,367)

(302,760)

8

Transfer between reserves

Balance 31 July 2008

£

£

-

550,774 (491,809)

-

58,965


UNIVERSITY OF SOUTHAMPTON STUDENTS’ UNION NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 JULY 2008

____________________________________________________________________________________

10.

CAPITAL COMMITMENTS

2008 £

2007 £

Total reserves at 31 July 2008

58,965

374,092

Less: Amounts authorised by Union Management Board and contracted for at 31 July 2008

(9,857)

(155,797)

(25,344) _______

(8,000) _______

Distributable reserves at 31 July 2008

23,764

210,295

FINANCIAL COMMITMENTS

2008 £

2007 £

332,000 _______

332,000 _______

332,000

332,000

_______

1,732 _______

-

1,732

Less: Amounts authorised by Union Management Board but not contracted for at 31 July 2008

11.

Annual commitments under non-cancellable operating leases were: Land and buildings: Leases expiring - within one year - within two to five years - in over five years

Other: Leases expiring - within one year - within two to five years - in over five years

The land and buildings leases all relate to the rental of buildings from the University of Southampton. The leases allow a rent review every five years.

9


UNIVERSITY OF SOUTHAMPTON STUDENTS’ UNION NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 JULY 2008

____________________________________________________________________________________

12.

RECONCILIATION OF OPERATING SURPLUS TO NET CASH FROM OPERATING ACTIVITIES Total deficit/surplus from Income and Expenditure account Deficit/surplus on SUSU Café Deficit on Travel Centre Surplus on Union Shop Surplus on Venue

Investment income (Increase)/decrease in stock Increase in debtors Increase in creditors Net cash inflow from operating activities

13.

RETURNS ON INVESTMENTS Interest received on bank deposit account

10

2008 £

2007 Restated £

(59,277) (29,796) (24,356) 86,169 14,893 _______

29,494 14,680 (27,139) 55,279 4,318 _______

(12,367)

76,632

(21,204) (18,102) (109,040) 323,628 _______

(23,541) 46,524 (31,689) 16,014 _______

162,915

83,940

2008 £

2007 £

21,204 _____

23,541 ______

21,204

23,541


UNIVERSITY OF SOUTHAMPTON STUDENTS’ UNION NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 JULY 2008 ____________________________________________________________________________________

14.

CAPITAL INVESTMENT

2008 £

Fixed assets acquired – Union Fixed assets acquired – SUSU Café Fixed assets acquired – Travel Fixed assets acquired – Union Shop Fixed assets acquired – Venue

Receipts from sale of assets

15.

ANALYSIS OF CHANGES IN NET FUNDS

Cash in hand and at bank including on deposit

16.

2007 £

(89,329) (36,830) (169,525) (26,201) _______

(94,096) (14,387) (2,626) (35,138) (74,325) _______

(321,885)

(220,572)

19,125 _______

_______

(302,760)

(220,572)

1 August 2007 £

Cash Flows £

31 July 2008 £

487,019

(118,641)

368,378

CONTINGENT LIABILITIES A deposit account of £154,000 is held in joint names with Lloyds TSB Plc. This is held as security by the bank to cover the guarantees Lloyds TSB Plc has issued in favour of Rail Settlement Plan, British Rail International and IATA.

11


UNIVERSITY OF SOUTHAMPTON STUDENTS’ UNION CONSOLIDATED UNION INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 JULY 2008

APPENDIX 1

____________________________________________________________________________________

Income Grant from the University Other income (net)

Schedule

2008

2008

Unaudited

£ Unaudited

£ Unaudited

1

Less: Expenditure Central Services General administration expenses Officers and related expenses House expenses Union Films (net) Student central services (net) Non-departmental grants Marketing & promotional (net) Membership Services Membership services department Student advice & information centre (net) IT & New Media Publications (net) Student activities (net) Athletic Union (net) Sport Southampton

1,802,024 41,795 ________

2,013,344

1,843,819

447,199 133,680 530,386 1,303 25,404 21,204 123,894

440,767 125,853 490,488 (548) 19,415 19,445 96,962

9

158,083

153,303

10 11 12 13 14

184,815 139,467 (2,150) 89,878 208,198 11,260 ________

90,285 111,074 (1,488) 86,744 174,079 7,946 ________

Transfer from reserves Insurance income Less: Fixed asset expenditure

2,072,621 ________ (59,277)

71,757 17,572 (89,329) ________

15

1,814,325 ________ 29,494

94,096

________ (59,277)

12

2007 Restated £ Unaudited

1,977,000 36,344 ________

2 3 4 5 6 7 8

Deficit/surplus on Union activities (Note 11)

Balance transferred to reserves

2007 Restated £ Unaudited

(94,096) ________

________ 29,494


UNIVERSITY OF SOUTHAMPTON STUDENTS’ UNION SUSU CAFÉ TRADING ACCOUNT FOR THE YEAR ENDED 31 JULY 2008

APPENDIX 2

____________________________________________________________________________________ 2008 £ Unaudited Income Less: Cost of sales Opening stock Purchases

2008 £ Unaudited

2007 £ Unaudited

731,897

660,005

9,557 388,691 _______

6,821 307,688 _______

Less: Closing stock

398,248 (8,253) _______

314,509 (9,557) _______

Salaries and wages

389,995 317,030 _______

304,952 289,321 _______

Gross profit Less: Expenditure Power – gas Administrative charges Cash transit charges Equipment rental Small equipment and utensils Cleaning General maintenance and till rolls Insurance Printing, postage and stationery Sundries Telephone Uniforms and overalls Promotions and publicity Staff training

24,872 4,772 7,500 6,000 2,487 4,589 11,866 8,525 2,319 892 150 1,018 1,666 438 2,446 _______

Deficit/surplus (Note 11) Transfer from reserves Less: Fixed asset expenditure

707,025 _______

54,668 _______

Balance transferred to reserves

______ (29,796)

13

594,273 _______ 65,732

1,666 7,500 5,700 2,561 6,133 9,012 10,093 2,148 1,038 282 784 1,130 379 2,626 _______

(29,796) 36,830 (36,830) ______

2007 £ Unaudited

51,052 _______ 14,680

14,387 (14,387) ______

______ 14,680


UNIVERSITY OF SOUTHAMPTON STUDENTS’ UNION TRAVEL CENTRE TRADING ACCOUNT FOR THE YEAR ENDED 31 JULY 2008

APPENDIX 3

____________________________________________________________________________________ 2008

2008

£ Unaudited

£ Unaudited

2007 Restated £ Unaudited

2007 Restated £ Unaudited

Income

1,540,615

1,473,653

Less: Payments to operators and agencies

1,481,546 ________

1,400,889 ________

59,069

72,764

66,805 ________

54 53,111 ________

125,874

125,929

Gross profit Bonus receipts Service fees and cancellation charges

Less: Expenditure Salaries and wages Rent Electricity Barclaycard finance charges Cash transit charges Administrative charges Equipment rental Cleaning General maintenance and till rolls Insurance Printing, postage and stationery Promotions and publicity Software and computer consumables Sundries Staff training and conferences Telephone Travel literature and subscriptions Uniforms

122,099 9,300 1,300 3,253 1,000 5,004 130 976 491 1,220 1,953 1,127 256 138 129 1,304 550 ________

Deficit (Note 11) Transfer from reserves Less: Fixed asset expenditure

150,230 ________

123,626 9,300 1,500 2,749 1,000 5,004 120 948 502 1,279 1,933 988 113 232 2,181 1,249 25 319 ________

(24,356) ________

Balance transferred to reserves

________ (24,356)

14

153,068 ________ (27,139)

2,626 (2,626) ________

________ (27,139)


UNIVERSITY OF SOUTHAMPTON STUDENTS’ UNION UNION SHOP TRADING ACCOUNT FOR THE YEAR ENDED 31 JULY 2008

APPENDIX 4

____________________________________________________________________________________ 2008 £ Unaudited Income Less: Cost of sales Opening stock Purchases

Less: Closing stock

95,851 985,774 ________

1,200,368 (60,469) ________

1,081,625 (40,050) ________

1,139,899 ________ 430,754

253,086 30,000 4,000 17,188 7,500 15,000 3,990 5,613 3,618 1,827 631 311 814 18 989 ________

344,585 ________

Balance transferred to reserves

________ 86,169

15

1,041,575 ________ 366,629

221,616 30,000 3,840 11,312 7,500 14,000 4,535 6,076 3,488 2,991 4,295 962 684 51 ________

86,169 169,525 (169,525) ________

2007 £ Unaudited 1,408,204

40,050 1,160,318 ________

Surplus (Note 11) Transfer from reserves Less: Fixed asset expenditure

2007 £ Unaudited

1,570,653

Gross profit Less: Expenditure Salaries and wages Rent Electricity Barclaycard finance charges Administrative charges Cash transit charges Cleaning General maintenance and till rolls Insurance Printing, postage and stationery Sundries Staff training and conferences Telephone Promotions and publicity Uniforms

2008 £ Unaudited

311,350 ________ 55,279

35,138 (35,138) ________

________ 55,279


UNIVERSITY OF SOUTHAMPTON STUDENTS’ UNION VENUE TRADING ACCOUNT FOR THE YEAR ENDED 31 JULY 2008

APPENDIX 5

____________________________________________________________________________________

Income Bars Entertainments

Less: Cost of sales Bars Entertainments

2008

2008

£ Unaudited

£ Unaudited

1,067,211 369,420 ________

409,150 355,830 ________

Gross profit Discount allowance received

Salaries and wages

Less: Expenditure Rent Administrative charges Barclaycard charges Cash transit charges Glasses and small equipment Cleaning General maintenance and till rolls Equipment maintenance Insurance Printing, postage and stationery Software & computer consumables Sundries Staff training & conferences Telephone Uniforms and overalls Stocktaking fees Entertaining costs Performing rights

150,000 7,500 9,210 14,250 17,562 28,691 31,300 20,200 6,052 7,395 931 3,025 3,412 1,077 980 2,684 10,792 8,232

16

1,436,631

(764,980) ________

2007 Restated £ Unaudited 1,171,076 365,942 ________

460,204 408,197 ________

2007 Restated £ Unaudited

1,537,018

(868,401) ________

671,651

668,617

6,588 ________

7,499 ________

678,239

676,116

(339,580) ________

(345,491) ________

338,659

330,625 150,000 7,500 6,244 12,959 26,956 28,051 22,103 31,432 5,987 11,477 1,528 2,716 1,944 693 861 2,973 6,365 3,434


UNIVERSITY OF SOUTHAMPTON STUDENTS’ UNION VENUE TRADING ACCOUNT FOR THE YEAR ENDED 31 JULY 2008

APPENDIX 5

____________________________________________________________________________________

Promotional & publicity expenses Legal fees

2008

2008

£ Unaudited

£ Unaudited

13,667 121 ________

Trading surplus/deficit Add: Other Income Commissions Trading surplus (Note 11) Transfer from reserves Fixed asset sales Less: Fixed asset expenditure

24,648 1,553 (26,201) _______

Balance transferred to reserves

337,081 ________

9,805 6,306 ________

2007 Restated £ Unaudited

339,334 ________

1,578

(8,709)

13,104 211 ________

12,994 33 _______

14,893

4,318

_______ 14,893

17

2007 Restated £ Unaudited

74,325 (74,325) _______

_______ 4,318


UNIVERSITY OF SOUTHAMPTON STUDENTS’ UNION SCHEDULES TO THE INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 JULY 2008

____________________________________________________________________________________

1.

OTHER INCOME (NET)

Membership fees: Associate and life Interest on bank and other deposit accounts Surplus – washing machine Miscellaneous income (net) (schedule 1A) Hire of premises and facilities Advertising and promotional income Proceeds from the sale of fixed assets Deficit – Union vehicles Discounts received Non recoverable VAT

1A.

MISCELLANEOUS INCOME

2008 £ Unaudited

Income Entertainment machines Miscellaneous Commissions from photo-booth

Less: Expenditure Projects/campaigns Teas for committees Newspapers Taxation and management consultancy Movement in provision for bad debts Bad debts written off

23 553 269 2,165 (1,028) 2,708 _______

Balance transferred to other income

2008 £ Unaudited

2007 £ Unaudited

2,939 21,204 3,278 11,571 22,832 565 (6,767) 201 (19,479) _______

2,303 23,541 4,185 8,966 21,677 5,533 (245) (8,092) 143 (16,216) _______

36,344

41,795

2007 £ Unaudited

2007 £ Unaudited

12,056 681 3,524 _______

15,681 1,138 4,668 _______

16,261

21,487

(4,690) _______ 11,571

18

2008 £ Unaudited

2,620 953 668 5,850 1,418 1,012 _______

(12,521) _______ 8,966


UNIVERSITY OF SOUTHAMPTON STUDENTS’ UNION SCHEDULES TO THE INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 JULY 2008

____________________________________________________________________________________

2.

GENERAL ADMINISTRATION EXPENSES

Audit fees Insurances Legal charges Cash transit charges Office equipment maintenance Software and computer consumables Printing, stationery and postage Salaries and wages Telephones and fax Sundries (including staff recruitment) Conferences and staff training

3.

OFFICERS AND RELATED EXPENSES

Sabbatical salaries Sabbatical officers’ expenses Other officers’ expenses Region and area travel Election expenses

4.

HOUSE EXPENSES

Rent Portering wages and salaries Cleaning, wages and materials Overalls and uniforms Repairs, redecoration and general maintenance Electricity Billiard table and room maintenance

19

2008 £ Unaudited

2007 £ Unaudited

7,100 19,147 30,067 2,547 6,137 2,446 5,729 351,984 2,417 11,837 7,788 _______

8,300 15,708 18,644 4,920 7,167 3,880 11,586 343,735 1,717 13,917 11,193 _______

447,199

440,767

2008 £ Unaudited

2007 £ Unaudited

120,644 3,824 2,594 1,767 4,851 _______

116,202 2,676 1,458 1,528 3,989 _______

133,680

125,853

2008 £ Unaudited

2007 £ Unaudited

130,000 239,503 84,084 720 26,370 49,246 463 _______

130,000 227,669 79,824 1,052 19,961 31,562 420 _______

530,386

490,488


UNIVERSITY OF SOUTHAMPTON STUDENTS’ UNION SCHEDULES TO THE INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 JULY 2008

____________________________________________________________________________________

5.

UNION FILMS

2008 £ Unaudited

Income Ticket sales, refreshments and advertising Student Membership fee

2007 Restated £ Unaudited

23,433 8,528 _______ 31,961

Less : Expenditure Film hire including transport cost Refreshment purchases Salaries and wages Cleaning Performing Rights Technical expenses Vacation Subsistence Administration including advertising

16,854 4,312 6,250 1,500 706 232 100 3,310 _______

Net (deficit)/surplus

6.

2008 £ Unaudited

(33,264) _______

25,773 8,420 _______ 34,193 19,063 2,605 6,000 1,500 724 173 556 3,024 _______

(1,303)

STUDENT CENTRAL SERVICES

20

(33,645) _______ 548

2008

Freshers’ Week (net) Safety buses (net) Group Personal Accident Fund Insurance reserve fund Surge Radio Goodie bags SUSU TV Membership fee to Union Films

2007 Restated £ Unaudited

£ Unaudited

2007 Restated £ Unaudited

3,841 9,116 875 148 4,580 (5,673) 3,989 8,528 _______

(7,083) 5,185 137 94 13,372 (710) 0 8,420 _______

25,404

19,415


UNIVERSITY OF SOUTHAMPTON STUDENTS’ UNION SCHEDULES TO THE INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 JULY 2008

____________________________________________________________________________________

7.

NON-DEPARTMENTAL GRANTS

University of Southampton Day Nursery University of Southampton Nightline University of Southampton Students’ Union Appeal Fund University of Southampton Students’ Union Rag Appeal Fund Turner Sims Concert Hall

8.

MARKETING AND PROMOTIONAL DEPARTMENT

General administration costs including salaries Conferences and staff training Internal Union Publicity

9.

MEMBERSHIP SERVICES DEPARTMENT

General administration costs including salaries Conferences and staff training Executive officer training Student training Internal projects and campaigns Equal Opportunities campaigns and conferences Postgraduate term and vacation expenses Student Community Action administration and projects (net)

21

2008 £ Unaudited

2007 £ Unaudited

5,000 3,508 9,420 1,476 1,800 _______

5,000 2,200 8,725 1,820 1,700 _______

21,204

19,445

2008 £ Unaudited

2007 £ Unaudited

118,253 1,221 4,420 _______

90,028 1,573 5,361 _______

123,894

96,962

2008 £ Unaudited

2007 £ Unaudited

91,805 128 11,718 91 22,207 539 1,856 29,739 _______

80,295 858 9,159 515 24,436 124 2,575 35,341 _______

158,083

153,303


UNIVERSITY OF SOUTHAMPTON STUDENTS’ UNION SCHEDULES TO THE INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 JULY 2008

____________________________________________________________________________________

10.

STUDENT ADVICE & INFORMATION CENTRE

General administration costs including salaries Conferences and staff training Books, documents and subscriptions Day Nursery refunds International student socials Batch Scheme International (net) SUSU Emergency Fund

1.

11.

IT & NEW MEDIA

General administration costs including salaries Conferences and staff training Website development costs

12.

PUBLICATIONS

Wessex Scene (net) Fresh discount magazine

13.

STUDENT ACTIVITIES (NET)

General administration costs including salaries Conferences and staff training Equipment insurance Health and safety expenses Clubs & societies expenditure (net)

22

2008 £ Unaudited

2007 £ Unaudited

167,012 2,627 5,041 4,987 5,055 (1,457) 1,550 _______

76,206 5,519 3,499 1,513 1,483 (386) 2,451 _______

184,815

90,285

2008 £ Unaudited

2007 £ Unaudited

136,593 4,759 (1,885) _______

111,426 2,061 (2,413) _______

139,467

111,074

2008 £ Unaudited

2007 £ Unaudited

43 (2,193) _______

3,901 (5,389) _______

(2,150)

(1,488)

2008 £ Unaudited

2007 £ Unaudited

43,767 641 9,726 4,968 30,776 _______

43,828 240 2,741 3,836 36,099 _______

89,878

86,744


UNIVERSITY OF SOUTHAMPTON STUDENTS’ UNION SCHEDULES TO THE INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 JULY 2008

____________________________________________________________________________________

14.

ATHLETIC UNION

Income AU membership fees Contribution to air compressor Sundry income (including AU fines) AU Ball (net) Claims met by insurance

Less: Expenditure Net contributions to the expenditure of affiliated clubs Teas Club affiliations Club insurance Training courses for Clubs BUSA competition costs National representation General administration costs BUSA administration costs Hire of facilities Insurance Equipment maintenance Non BUSA club championships Recreational accommodation Travel from Winchester School of Art Coaching fund

2008 £ Unaudited 6,225 245 5,500 2,025 _______

38,062 6,666 9,972 6,803 948 63,588 1,500 3,993 13,792 7,091 8,778 7,795 24,815 1,398 118 26,874 _______

Deficit transferred to reserves (Schedule 15 - unaudited)

2008 £ Unaudited

13,995

222,193 _______ (208,198)

23

2007 £ Unaudited 28,264 300 2,078 (935) 25 _______

35,519 3,920 11,680 8,416 2,150 57,936 1,416 4,272 14,704 6,574 8,778 5,593 18,286 78 43 24,446 _______

2007 £ Unaudited

29,732

203,811 _______ (174,079)


UNIVERSITY OF SOUTHAMPTON STUDENTS’ UNION SCHEDULE TO THE BALANCE SHEET AS AT THE YEAR END 31 JULY 2008

________________________________________________________________________________________________________________________________

15.

RESERVES

(INCLUDING FIXED ASSET EXPENDITURE)

Allocation of non-trading reserves Group personal accident Early retirement fund Insurance fund Athletic Union General reserve Consolidated reserve (Note 8)

Transfer between reserves

Balance 31 July 2008

£ Unaudited

Transfer from reserves (fixed asset expenditure) £ Unaudited

£ Unaudited

£ Unaudited

15,000 60,000 14,325 30,656 561,827 _______

(208,198) 148,921 _______

(23,192) (48,565) _______

182,000 (182,000) _______

15,000 60,000 14,325 (18,734) 480,183 _______

681,808

(59,277)

(71,757)

-

550,774

Balance 31 July 2007 Restated £ Unaudited

Allocation of surplus for period

24


UNIVERSITY OF SOUTHAMPTON STUDENTS’ UNION SCHEDULES TO THE INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 JULY 2008

____________________________________________________________________________________

16.

AFFILIATIONS AND DONATIONS

2008 £ Unaudited

Body to which affiliation or donation is made: advice UK Amateur Rowing Association Amateur Swimming Association Army Parachute Association Asdan Ltd Association for Managers in Student Unions Badminton England Baseball Softball UK British Parachute Association British Student American Football Association British Sub Aqua Club British Universities American Football League British Universities Sailing Association British Universities Snow Sports Council British Universities Sports Association Citizens Advice Computer Arts Creative Review magazine England Basketball – BUSA England Handball Association England Hockey England Squash English Lacrosse Association Ltd Fenman Ltd Goju Rye Karate Do Association Hampshire & IOW Squash Rackets Association Hampshire Hockey Association Hampshire Small-bore Rifle and Pistol association Haymarket media group Host UK Lasham Gliding National Association of Student Money advisers National Nightline National Postgraduate Committee National Rifle Association Oaklands Community School Production Services Association Seishin Mizu Ryu Tatakai Jutsu SKILL National Bureau for Disabled Students South Hampshire Indoor Cricket League Southampton University Fencing Spinnaker Club Student Radio Association SUDA Surrey Rifle Association Sweet & Maxwell The Association of International Student Advisers The Hurlington Polo Association

280 235 218 40 217 700 74 300 281 1,005 308 285 70 97 12,864 33 54 64 65 500 103 146 215 248 25 163 457 129 140 342 608 110 52 784 53 20 213 175 100 110 10 1,470 90 25 132 651 70 158 25


UNIVERSITY OF SOUTHAMPTON STUDENTS’ UNION The Royal Life Saving Society UK Turner Sims UK Council for Overseas Student Affairs (UKCOSA) – See council above UK Dodge Ball Association University of Brighton – BUSA South East Affiliation University of Leicester Student Union – NASTA Volleyball England

20 1,800 314 30 125 135 81 26,994

26


/2008