Page 1

UNIVERSITY OF SOUTHAMPTON STUDENTS’ UNION

ACCOUNTS FOR THE YEAR ENDED 31 JULY 2010

Page Organisation and Administration

1

Auditors’ Report

2

Balance Sheet

3

Income and Expenditure Account

4

Statement of Total Recognised Gains and Losses

5

Cash Flow Statement

6

Notes to the Accounts

7 – 13

Appendix 1 : Consolidated Union Income and Expenditure Account

14

Appendix 2 : SUSU Café Trading Account

15

Appendix 3 : Travel Centre Trading Account

16

Appendix 4 : Union Shop Trading Account

17

Appendix 5 : Venue Trading Account Appendix 6 : Halls of Residence Bars Trading Account Schedules to the Income and Expenditure Account

18 – 19 20 21 – 30


UNIVERSITY OF SOUTHAMPTON STUDENTS’ UNION ORGANISATION AND ADMINISTRATION ____________________________________________________________________________________

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

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; promote, facilitate and support student volunteering.

Address:

University of Southampton Students’ Union Highfield Southampton SO17 1BJ

Officers:

President – William FitzJohn AU President – Edward Wilkes VP Media and Communications – Charlotte Woods VP Education and Representation – Robert Stanning VP Welfare and Societies – Emily Rees Winchester President – Charlene Batchelor Trustees – Michael Snell, Aaron Bali, Jessica Staff, Daryl Newland, Akil Gowrinath, Dean Jones, Jonathan Davies, Grace Allingham, Frankie Fry, Ellis Wong, Joshua Thompson and Jim Parr Honorary Officers General Manager – Jaki Booth Finance Manager – John Mills

Auditors:

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

Bankers:

Lloyds Group Plc 1st Floor Town Quay Southampton SO14 2AQ

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, the income and expenditure account, the statement of total recognised gains and losses, the cash flow statement and related notes which have been prepared under the historical cost convention and the accounting policies set out on page 7. 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 2010 and of its result for the year then ended.

MAZARS LLP Chartered Accountants and Statutory Auditors Poole Date: 2


UNIVERSITY OF SOUTHAMPTON STUDENTS’ UNION BALANCE SHEET AS AT 31 JULY 2010 ____________________________________________________________________________________ Note

2010 £

Fixed assets Tangible fixed assets Fixed asset investments Current assets Stock Debtors Cash at bank and in hand

Current liabilities Creditors

8

£

£

384,077 100

4 5

6 7

2009 Restated £

541,934 100

90,098 184,556 511,287 _______

108,191 276,900 412,935 _______

785,941

798,026

(501,091) _______

(587,204) _______

Net current assets

284,850 _______

210,822 _______

Net assets

669,027

752,856

669,027

752,856

Represented by: Reserves

9

John Mills Finance Manager

William FitzJohn President

Date:

Date:

The notes on pages 7 – 13 form part of these accounts. 3


UNIVERSITY OF SOUTHAMPTON STUDENTS’ UNION INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 JULY 2010 ____________________________________________________________________________________ Note

Non-trading activities Union Grant from the University Other non-trading income (net) Surplus on JCR activities Expenditure on Union activities (net) Exceptional items

1(f)

Trading activities Deficit arising on the SUSU Café trading account Deficit arising on the Travel Centre trading account Surplus arising on the Union Shop trading account Deficit arising on the Venue trading account Deficit arising on the Halls of Residence Bars

Net deficit for the year

The notes on pages 7 – 13 form part of these accounts.

4

2010 £

2009 Restated £

2,226,752 3,002 52,394 (2,166,421) (95,356) ________ 20,371

2,110,000 18,982 36,228 (2,162,812) ________ 2,398

(50,876) (34,626) 135,906 (130,205) (24,399) ________ (104,200) ________

(33,288) (23,481) 114,312 (72,520) ________ (14,977) ________

(83,829)

(12,579)


UNIVERSITY OF SOUTHAMPTON STUDENTS’ UNION STATEMENT OF TOTAL RECOGNISED GAINS AND LOSSES FOR THE YEAR ENDED 31 JULY 2010 ____________________________________________________________________________________

Note

Deficit for the financial year

Total recognised gains and losses relating to the year Prior year adjustment

1(g)

2010 £

2009 Restated £

(83,829)

(12,579)

________

________

(83,829)

(12,579)

541,934 ________ 458,105

Total gains and losses recognised since the last year

The notes on pages 7 – 13 form part of these accounts.

5


UNIVERSITY OF SOUTHAMPTON STUDENTS’ UNION CASH FLOW STATEMENT FOR THE YEAR ENDED 31 JULY 2010 ____________________________________________________________________________________

Note

2010 £

2009 Restated £

Net cash inflow from operating activities

12

136,291

95,317

Returns on investments

13

935

4,324

Capital expenditure and financial investment

14

(38,874)

(55,084)

________

________

98,352

44,557

Increase in cash in the period

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

Change in net funds in the period

15

Opening net funds at 1 August 2009

Closing net funds at 31 July 2010

The notes on pages 7 – 13 form part of these accounts.

6

98,352 ________

44,557 ________

98,352

44,557

412,935 ________

368,378 ________

511,287

412,935


UNIVERSITY OF SOUTHAMPTON STUDENTS’ UNION NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 JULY 2010 ____________________________________________________________________________________

1.

ACCOUNTING POLICIES (a)

The accounts are prepared under the historical cost convention.

(b)

Fixed Assets over the value of £1,000 are capitalised and depreciated over their economic useful life as follows: -

Equipment Motor vehicles Leasehold improvements

3-5 years 5 years 8-10 years

(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.

(f)

The Union has included exceptional costs in relation to redundancy pay, including the closure of the Travel Centre.

(g)

A policy of capitalising assets as described above was introduced in the financial year 2009/10. The figures for the year end 31 July 2009 have been restated to provide a comparison for this year as if this policy had been introduced at the beginning of that financial year. The adjustments include depreciation charges, disposals of fixed assets and a reclassification to small equipment for purchases less than £1,000. The overall effect has been that the previously reported surplus in 2009 of £151,957 is restated as a deficit of £12,579: £ 151,957 (217,761) (3,772) 56,997

Previously stated surplus Depreciation charge 2008/9 Loss on disposal 2008/9 2009 additions to fixed assets Restated deficit

(12,579)

The overall movement on opening reserves as a result of the above has been an increase of £541,934, representing the opening net book value of tangible fixed assets recognised.

2.

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

7


UNIVERSITY OF SOUTHAMPTON STUDENTS’ UNION NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 JULY 2010 ____________________________________________________________________________________

3.

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)

4.

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

TANGIBLE FIXED ASSETS

Cost At 1 August 2009 Additions Disposals

Leasehold Improvements

Equipment

Motor Vehicles

Total

£

£

£

£

1,141,589 9,383 (16,985) ________

526,112 30,119 (19,142) ________

35,000 ________

1,702,701 39,502 (36,127) ________

1,133,987

537,089

35,000

1,706,076

847,730 84,813 (5,372) ________

279,749 93,144 (13,065) ________

33,288 1,712 ________

1,160,767 179,669 (18,437) ________

927,171

359,828

35,000

1,321,999

At 31 July 2010

206,816

177,261

-

384,077

At 1 August 2009

293,859

246,363

1,712

541,934

At 31 July 2010 Depreciation At 1 August 2009 Charge for the year On disposals

At 31 July 2010 Net Book Value

8


UNIVERSITY OF SOUTHAMPTON STUDENTS’ UNION NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 JULY 2010 ____________________________________________________________________________________

5.

INVESTMENTS Shares held Shares in Brassbound Limited – valued at cost

2010 £

2009 £

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 Halls of Residence Bars

7.

DEBTORS Amounts due from University of Southampton Other debtors and prepayments

8.

CREDITORS Amounts due to University of Southampton Other creditors and accruals

9

2010 £

2009 £

56,908 5,732 27,033 425 ________

62,617 8,136 28,288 342 8,808 ________

90,098

108,191

2010 £

2009 £

49,440 135,116 ________

138,444 138,456 ________

184,556

276,900

2010 £

2009 £

183,314 317,777 ________

263,372 323,832 ________

501,091

587,204


UNIVERSITY OF SOUTHAMPTON STUDENTS’ UNION NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 JULY 2010 ________________________________________________________________________________________________________________________________

9.

RESERVES

Non-trading reserves Consolidated reserve (schedule 16 unaudited) Trading reserves Total reserves - before commitments (see Note 10)

Balance as previously stated 1 August 2009

Prior year adjustment

£

£

630,839

195,268

826,107

20,371

846,478

(419,917)

346,666

(73,251)

(104,200)

(177,451)

210,922

541,934

752,856

(83,829)

669,027

10

Balance 1 August 2009 Restated

Surplus/ (deficit)

Balance 31 July 2010

£

£


UNIVERSITY OF SOUTHAMPTON STUDENTS’ UNION NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 JULY 2010 ____________________________________________________________________________________

10.

2010 £

2009 Restated £

Total reserves at 31 July 2010

669,027

752,856

Less: Amounts authorised by Union Management Board and contracted for at 31 July 2010

(58,947)

(8,518)

(80,546) ________

(521) ________

Distributable reserves at 31 July 2010

529,534

743,817

FINANCIAL COMMITMENTS

2010 £

2009 £

332,000 ________

332,000 ________

332,000

332,000

CAPITAL COMMITMENTS

Less: Amounts authorised by Union Management Board but not contracted for at 31 July 2010

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

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.

11


UNIVERSITY OF SOUTHAMPTON STUDENTS’ UNION NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 JULY 2010 ____________________________________________________________________________________ 12.

£

2009 Restated £

20,371 (50,876) (34,626) 135,906 (130,205) (24,399) ________

2,398 (33,288) (23,481) 114,312 (72,520) ________

(83,829)

(12,579)

Investment income Depreciation Loss on disposal of tangible fixed assets Decrease/(increase) in stock Decrease in debtors Decrease in creditors

(935) 179,669 17,062 18,093 92,344 (86,113) ________

(4,324) 217,761 1,859 (12,746) 50,371 (145,025) ________

Net cash inflow from operating activities

136,291

95,317

2010 £

2009 £

935

4,324

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

13.

RETURNS ON INVESTMENTS Interest received on bank deposit account

12

2010


UNIVERSITY OF SOUTHAMPTON STUDENTS’ UNION NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 JULY 2010 ____________________________________________________________________________________

14.

2010

CAPITAL EXPENDITURE AND FINANCIAL INVESTMENT

£ Fixed assets additions Proceeds from the sale of fixed assets

39,502 (628) ________ 38,874

15.

ANALYSIS OF CHANGES IN NET FUNDS

Cash in hand and at bank including on deposit

16.

2009 Restated £ 56,997 (1,913) ________ 55,084

1 August 2009 £

Cash Flows £

31 July 2010 £

412,935

98,352

511,287

CONTINGENT LIABILITIES A deposit account of £90,000 (2009: £154,000) is held in joint names with Lloyds Group Plc. This is held as security by the bank to cover the guarantees Lloyds Group Plc has issued in favour of IATA.

13


UNIVERSITY OF SOUTHAMPTON STUDENTS’ UNION CONSOLIDATED UNION INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 JULY 2010

APPENDIX 1

____________________________________________________________________________________ Schedule

2010

2010

Unaudited

£ Unaudited

£ Unaudited

Income Grant from the University Other income (net)

1

2009 Restated £ Unaudited

2009 Restated £ Unaudited

2,226,752 3,002 ________

2,110,000 18,982 ________

2,229,754

2,128,982

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) JCR (net) Sport Southampton

2 3 4 5 6 7 8

452,824 148,068 601,150 (12,000) 2,518 20,399 117,389

441,272 139,046 621,201 (9,406) 11,889 20,890 113,726

9

162,019

154,427

10 11 12 13 14 15

195,143 164,401 5,986 112,326 184,790 (52,394) 11,408 ________

204,557 161,352 (1,946) 95,551 198,398 (36,228) 11,855 ________ (2,114,027) ________

Surplus/deficit on Union activities before exceptional items (Note 12)

115,727

Exceptional items

Balance transferred to reserves

(95,356) ________ 20,371

16

14

(2,126,584) ________ 2,398

________ 2,398


UNIVERSITY OF SOUTHAMPTON STUDENTS’ UNION SUSU CAFÉ TRADING ACCOUNT FOR THE YEAR ENDED 31 JULY 2010

APPENDIX 2

____________________________________________________________________________________ 2010

2010

£ Unaudited

£ Unaudited 629,424

Income Less: Cost of sales Opening stock Purchases

2009 Restated £ Unaudited

699,435

8,136 318,986 _______

8,253 359,562 _______

Less: Closing stock

327,122 (5,732) _______

367,815 (8,136) _______

Salaries and wages

321,390 288,210 _______

359,679 303,430 _______ (609,600) _______

Less: Expenditure Power – gas Administrative charges Depreciation Cash transit charges 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 Fixed asset disposal

(663,109) _______

19,824

Gross profit

5,400 8,000 13,380 6,600 7,640 12,825 10,803 1,983 915 (405) 896 1,360 100 908 295 _______

Balance transferred to reserves (note 9)

15

2009 Restated £ Unaudited

36,326

5,400 7,800 17,808 6,300 2,915 14,080 9,851 2,200 616 154 885 858 273 474 _______ (70,700) _______

(69,614) _______

(50,876)

(33,288)


UNIVERSITY OF SOUTHAMPTON STUDENTS’ UNION TRAVEL CENTRE TRADING ACCOUNT FOR THE YEAR ENDED 31 JULY 2010

APPENDIX 3

____________________________________________________________________________________ 2010

2010

£ Unaudited

£ Unaudited

Income Payments to operators and agencies

Gross profit Service fees and cancellation charges

Less: Expenditure Salaries and wages Rent Depreciation Electricity Barclaycard finance charges Cash transit charges Administrative charges Cleaning General maintenance and till rolls Insurance Printing, postage and stationery Promotions and publicity Software and computer consumables Sundries Staff training and conferences Telephone Uniforms Fixed asset disposal

16

2009 Restated £ Unaudited

799,775

1,432,978

(774,673) ________

(1,380,707) ________

25,102

52,271

43,709 ________

74,043 ________

68,811

126,314

89,327 3,942 600 750 1,939 562 1,122 778 211 1,412 1,148 532 5 46 663 400 ________

Balance transferred to reserves (note 9)

2009 Restated £ Unaudited

127,170 7,800 600 1,250 3,388 750 2,496 1,038 317 1,414 1,177 684 51 98 1,450 112 ________ (103,437) ________

(149,795) ________

(34,626)

(23,481)


UNIVERSITY OF SOUTHAMPTON STUDENTS’ UNION UNION SHOP TRADING ACCOUNT FOR THE YEAR ENDED 31 JULY 2010

APPENDIX 4

____________________________________________________________________________________ 2010

2010

£ Unaudited

£ Unaudited 1,911,575

Income Less: Cost of sales Opening stock Purchases

Less: Closing stock

60,469 1,300,994 ________

1,419,491 (56,908) ________

1,361,463 (62,617) ________ (1,362,583) ________

(1,298,846) ________

548,992

512,360

272,881 30,000 33,682 4,500 25,984 8,404 16,250 4,910 8,104 4,196 1,130 899 179 951 1,016 ________

Balance transferred to reserves (note 9)

17

2009 Restated £ Unaudited 1,811,206

62,617 1,356,874 ________

Gross profit Less: Expenditure Salaries and wages Rent Depreciation 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 Uniforms

2009 Restated £ Unaudited

268,528 30,000 33,732 4,000 20,985 8,004 15,500 4,476 5,343 4,138 1,286 756 287 903 110 ________ (413,086) ________

(398,048) ________

135,906

114,312


UNIVERSITY OF SOUTHAMPTON STUDENTS’ UNION VENUE TRADING ACCOUNT FOR THE YEAR ENDED 31 JULY 2010

APPENDIX 5

____________________________________________________________________________________

Income Bars Entertainments

2010

2010

£ Unaudited

£ Unaudited

834,318 284,940 ________

2009 Restated £ Unaudited

923,207 386,064 ________ 1,119,258

Less: Cost of sales Bars Entertainments

338,618 244,654 ________

Gross profit Discount allowance received

Salaries and wages

Less: Expenditure Rent Depreciation 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 52,686 8,404 7,598 15,500 15,427 28,317 19,573 15,948 5,618 6,182 4,267 1,995 485 15 2,288 10,654 5,737

18

2009 Restated £ Unaudited

1,309,271

359,390 344,536 ________ (583,272) ________

(703,926) ________

535,986

605,345

4,228 ________

5,198 ________

540,214

610,543

(322,249) ________

(318,980) ________

217,965

291,563

150,000 77,862 8,004 8,635 14,800 14,128 25,510 21,515 18,416 5,984 6,643 841 2,684 1,446 565 191 2,358 11,113 6,512


UNIVERSITY OF SOUTHAMPTON STUDENTS’ UNION VENUE TRADING ACCOUNT FOR THE YEAR ENDED 31 JULY 2010

APPENDIX 5

____________________________________________________________________________________

Records & CD’s Promotional & publicity expenses Legal fees Fixed asset disposal

2010

2010

£ Unaudited

£ Unaudited

9,283 550 1,529 ________

Trading deficit Add: Other Income Commissions

19

2009 Restated £ Unaudited

8 1,293 133 ________ (362,056) ________

(378,641) ________

(144,091)

(87,078)

13,862 24

Balance transferred to reserves (note 9)

2009 Restated £ Unaudited

14,494 64 13,886 ________

14,558 ________

(130,205)

(72,520)


UNIVERSITY OF SOUTHAMPTON STUDENTS’ UNION HALLS OF RESIDENCE BARS TRADING ACCOUNT FOR THE YEAR ENDED 31 JULY 2010

APPENDIX 6

____________________________________________________________________________________ 2010

2010

£ Unaudited

£ Unaudited

Income Trading income

Less: Cost of sales

Gross profit Discount allowance received

Salaries and wages

Less: Expenditure Grant from University Glasses and small equipment Cleaning General maintenance and till rolls Equipment maintenance Insurance Printing, postage and stationery Software and computer consumables Sundries Staff training and conferences Telephone Stocktaking fees Entertainment costs Promotion Performing rights Legal fees

Add: Other Income Deficit

Balance transferred to reserves (note 9) 20

2009 Restated £ Unaudited

129,065 ________ 129,065

33,976 ________ 33,976

(64,658) ________

8 ________

64,407

33,984

895 ________

231 ________

65,302

34,215

(97,988) ________

(36,431) ________

(32,686)

(2,216)

(25,000) 5,841 819 4,481 1,812 556 88 261 317 224 2,570 814 220 ________

Trading Deficit

2009 Restated £ Unaudited

(6,566) 960 793 690 1,020 103 27 136 390 28 138 1,010 311 344 42 ________ (6,997) ________ (25,689)

(574) ________ (1,642)

1,290 ________ (24,399) ________

1,642 ________ ________

(24,399)

-


UNIVERSITY OF SOUTHAMPTON STUDENTS’ UNION SCHEDULES TO THE INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 JULY 2010 ____________________________________________________________________________________

1.

2010

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 Loss from the sale of fixed assets Deficit – Union vehicles Non recoverable VAT

1A.

MISCELLANEOUS INCOME

2010 £ 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

2010 £ Unaudited

21

1,332 935 (458) 330 31,745 5,502 (2,583) (12,106) (21,695) _______

1,683 4,324 1,495 4,003 25,834 6,376 (1,859) (2,084) (20,790) _______

3,002

18,982

2009 £ Unaudited

2009 £ Unaudited

87 1,858 3,740 _______

10,255 724 1,409 _______

5,685

12,388

15 237 1,378 2,477 1,248 _______

Balance transferred to other income

£ Unaudited

2009 Restated £ Unaudited

311 500 348 6,125 (469) 1,570 _______ (5,355) _______

(8,385) _______

330

4,003


UNIVERSITY OF SOUTHAMPTON STUDENTS’ UNION SCHEDULES TO THE INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 JULY 2010 ____________________________________________________________________________________

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 Health and safety

3.

OFFICERS AND RELATED EXPENSES

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

4.

HOUSE EXPENSES

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

22

2010 £ Unaudited

2009 £ Unaudited

8,855 18,837 20,722 1,165 8,903 3,501 8,452 339,484 1,304 13,741 15,466 12,394 _______

7,250 19,386 5,421 780 7,858 1,621 9,378 371,202 2,605 11,938 3,833 _______

452,824

441,272

2010 £ Unaudited

2009 £ Unaudited

131,010 3,732 273 3,356 9,697 _______

127,283 2,462 1,877 1,221 6,203 _______

148,068

139,046

2010 £ Unaudited

2009 Restated £ Unaudited

130,000 66,553 233,786 84,325 1,182 17,783 64,188 3,333 _______

130,000 72,994 225,266 84,203 822 39,689 66,245 1,982 _______

601,150

621,201


UNIVERSITY OF SOUTHAMPTON STUDENTS’ UNION SCHEDULES TO THE INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 JULY 2010 ____________________________________________________________________________________

5.

UNION FILMS

2010 £ Unaudited

Income Ticket sales, refreshments and advertising Student Membership fee

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

2010 £ Unaudited

2009 £ Unaudited

37,208 9,472 _______ 46,680

14,482 6,291 6,890 1,750 784 1,378 3,105 _______

30,078 7,938 _______ 38,016

13,004 4,084 6,562 1,500 592 849 100 1,919 _______ (34,680) _______

Net surplus

6.

(28,610) _______

12,000

9,406

2010

STUDENT CENTRAL SERVICES

£ Unaudited Freshers’ Week (net) Safety buses (net) Group Personal Accident Fund Surge Radio Depreciation Goodie bags SUSU TV Membership fee to Union Films

(22,092) 4,386 439 4,112 3,024 (2,376) 5,553 9,472 _______ 2,518

23

2009 £ Unaudited

2009 Restated £ Unaudited (9,228) 2,676 236 5,916 3,024 (2,324) 3,651 7,938 _______ 11,889


UNIVERSITY OF SOUTHAMPTON STUDENTS’ UNION SCHEDULES TO THE INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 JULY 2010 ____________________________________________________________________________________

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)

24

2010 £ Unaudited

2009 £ Unaudited

5,000 2,005 10,000 1,494 1,900 _______

5,000 2,390 10,000 1,700 1,800 _______

20,399

20,890

2010 £ Unaudited

2009 £ Unaudited

110,824 726 5,839 _______

105,780 904 7,042 _______

117,389

113,726

2010 £ Unaudited

2009 £ Unaudited

116,875 1,563 19,136 357 15,269 920 2,546 5,353 _______

98,614 1,183 8,498 30 13,507 509 2,376 29,710 _______

162,019

154,427


UNIVERSITY OF SOUTHAMPTON STUDENTS’ UNION SCHEDULES TO THE INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 JULY 2010 ____________________________________________________________________________________

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

11.

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.

2010 £ Unaudited 167,626 3,105 15,300 7,000 972 1,140 _______

187,794 1,237 11,546 2,474 2,620 (2,654) 1,540 _______

195,143

204,557

2010 £ Unaudited

2009 £ Unaudited

163,484 1,944 (1,027) _______

159,661 5,600 (3,909) _______

164,401

161,352

2010 £ Unaudited

2009 £ Unaudited

5,767 219 _______

1,863 (3,809) _______

5,986

(1,946)

2010

STUDENT ACTIVITIES (NET)

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

25

2009 £ Unaudited

£ Unaudited

2009 Restated £ Unaudited

81,519 633 9,401 3,893 16,880 _______

46,491 481 9,490 4,778 34,311 _______

112,326

95,551


UNIVERSITY OF SOUTHAMPTON STUDENTS’ UNION

SCHEDULES TO THE INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 JULY 2010 ____________________________________________________________________________________

14.

2010

2010

£ Unaudited

£ Unaudited

ATHLETIC UNION

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

21,344 6,065 3,013 2,606 _______

2009 Restated £ Unaudited

14,054 280 6,752 2,513 _______ 33,028

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

26

23,599

38,773 5,727 4,945 3,541 2,776 62,457 11,741 976 2,959 13,737 5,639 8,778 10,439 23,529 25,980 _______

34,252 5,150 4,719 7,306 1,155 66,587 9,745 1,300 1,819 15,002 6,788 8,778 10,720 23,682 20,815 _______

Deficit transferred to reserves (Schedule 16 - unaudited)

2009 Restated £ Unaudited

(217,818) _______

(221,997) _______

(184,790)

(198,398)


UNIVERSITY OF SOUTHAMPTON STUDENTS’ UNION

SCHEDULES TO THE INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 JULY 2010 ____________________________________________________________________________________

15.

JCR

2010

2010

£ Unaudited

£ Unaudited

Income Trading income

Less: Cost of sales

Gross profit Less: Expenditure Grant from University Equipment maintenance Election expenses Training and conferences Uniforms and overalls Printing and stationary Promotion/publicity Performing rights Campaigns Sundry

1,549 ________ 1,549

(58,673) ________

(3,530) ________

(19,926)

(1,981)

(40,000) 594 267 234 696 ________ (71,875) ________ 51,949

Add: Other Income

Surplus

Balance transferred to reserves (note 16)

27

2009 Restated £ Unaudited

38,747 ________ 38,747

(91,922) 14,698 61 268 1,055 523 879 1,570 993 ________

Trading Surplus

2009 Restated £ Unaudited

(38,209) ________ 36,228

445

-

________ 52,394 ________

________ 36,228 ________

52,394

36,228


UNIVERSITY OF SOUTHAMPTON STUDENTS’ UNION SCHEDULE TO THE BALANCE SHEET AS AT THE YEAR END 31 JULY 2010 ________________________________________________________________________________________________________________________________

16.

RESERVES

Allocation of non-trading reserves Group personal accident Early retirement fund Insurance fund Athletic Union JCR General reserve

Consolidated reserve (Note 9)

Balance as previously stated 1 August 2009 £ Unaudited

Prior year adjustment

Balance 1 August 2009 Restated

Allocation of surplus for period

Transfer between reserves

Balance 31 July 2010

£ Unaudited

£ Unaudited

£ Unaudited

£ Unaudited

£ Unaudited

15,000 60,000 14,325 (23,391) 36,228 528,677 _______

37,183 158,085 _______

15,000 60,000 14,325 13,792 36,228 686,762 _______

(184,790) 52,394 152,767 _______

630,839

195,268

826,107

20,371

28

192,000 (192,000) _______

15,000 60,000 14,325 21,002 88,622 647,529 _______

-

846,478


UNIVERSITY OF SOUTHAMPTON STUDENTS’ UNION SCHEDULES TO THE INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 JULY 2010 ____________________________________________________________________________________

17.

2010 £ Unaudited

AFFILIATIONS AND DONATIONS

Body to which affiliation or donation is made: Advice UK Association for Managers in Students’ Unions Association of International Student Advisors British Baseball Federation British Canoe Union British Fencing Association British Parachute Association British Student American Football Association British Universities American Football League British Universities Sailing Association British Universities Snow Sports Council British Universities & Colleges Sport BSA – Surf Citizens Advice England Handball Association England Hockey England Squash English Lacrosse Association Ltd Erasmus Student Network Funder Finder Grand National Archery Association Hampshire Chess Association Hampshire Football Association Hampshire Hockey Association Host UK Inline GB Lasham Gliding Society Medsin – UK Motor Sports Association NaSTA TV Affiliation National Association of Student Money advisers National Nightline National Small-Bore Rifle Association Rugby Football Union – Women Schools & University Polo Association Seishin Mizu Ryu Tatakai Jutsu (SMRTJ) Skill – National Bureau for Students with Disabilities Solent Area Basketball Association Southampton Chess League Student Scout & Guide Organisation Student Radio Association Student Windsurf Association Taekwondo Chungdokwan Great Britain The All England Netball Association

280 800 55 157 55 10 647 363 103 70 80 14,870 115 648 174 189 180 279 51 58 66 82 97 204 363 25 68 50 30 50 210 51 85 60 210 405 115 327 66 100 60 50 418 30

29


UNIVERSITY OF SOUTHAMPTON STUDENTS’ UNION 17.

AFFILIATIONS AND DONATIONS (continued)

The Royal Life Saving Society UK UK Council for Overseas Student Affairs (UKCOSA) WUTAN

20 330 203 _______ 22,959

30

/2010  

http://www.susu.org/downloads/accounts/2010.pdf