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REGISTERED NUMBER: 10112096 (England and Wales)






















Financial Statements

for the Year Ended 30 June 2024

for

Students' Union Management System Ltd

Students' Union Management System Ltd (Registered number: 10112096)






Contents of the Financial Statements
for the Year Ended 30 June 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Students' Union Management System Ltd

Company Information
for the Year Ended 30 June 2024







DIRECTORS: J A Brooks
A Bage
S P Liburd
M Jasinska
H J E Dempsey
D A J Clark
L J Exton
E R Zirker



SECRETARY: H Millar



REGISTERED OFFICE: The Engine Shed
Lincoln Students' Union
Brayford Pool
Lincoln
LN6 7TS



REGISTERED NUMBER: 10112096 (England and Wales)



SENIOR STATUTORY AUDITOR: James Sewell BA (Hons) FCA CTA



AUDITORS: Wright Vigar Limited
Statutory Auditors
Chartered Accountants & Business Advisers
15 Newland
Lincoln
Lincolnshire
LN1 1XG

Students' Union Management System Ltd (Registered number: 10112096)

Balance Sheet
30 June 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 2,624 5,747

CURRENT ASSETS
Stocks 3,003 6,229
Debtors 5 194,468 224,535
Cash at bank 197,113 238,631
394,584 469,395
CREDITORS
Amounts falling due within one year 6 250,172 363,970
NET CURRENT ASSETS 144,412 105,425
TOTAL ASSETS LESS CURRENT
LIABILITIES

147,036

111,172

CAPITAL AND RESERVES
Called up share capital 7 100,001 100,001
Retained earnings 47,035 11,171
SHAREHOLDERS' FUNDS 147,036 111,172

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 6 December 2024 and were signed on its behalf by:





J A Brooks - Director


Students' Union Management System Ltd (Registered number: 10112096)

Notes to the Financial Statements
for the Year Ended 30 June 2024

1. STATUTORY INFORMATION

Students' Union Management System Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentational currency of the financial statements is the pound sterling (£).

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Revenue is recognised on an accruals basis to the period that it relates.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 20% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Comprehensive Income.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the Company would receive for the asset if it were to be sold at the balance sheet date.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 (2023 - 11 ) .

Students' Union Management System Ltd (Registered number: 10112096)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

4. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£   
COST
At 1 July 2023
and 30 June 2024 7,497
DEPRECIATION
At 1 July 2023 1,750
Charge for year 3,123
At 30 June 2024 4,873
NET BOOK VALUE
At 30 June 2024 2,624
At 30 June 2023 5,747

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 181,819 213,901
Amounts owed by group undertakings 5,385 9,476
Other debtors 7,264 1,158
194,468 224,535

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 9,951 1,356
Amounts owed to group undertakings 141,130 227,147
Taxation and social security 46,365 7,121
Other creditors 52,726 128,346
250,172 363,970

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100,001 Ordinary £1 100,001 100,001

8. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

James Sewell BA (Hons) FCA CTA (Senior Statutory Auditor)
for and on behalf of Wright Vigar Limited

9. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Students' Union Management System Ltd (Registered number: 10112096)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

10. CONTROLLING PARTY

The controlling party is the University of Lincoln Students' Union, as they own 100% of the shares.

The registered office of the controlling party is:
The Engine Shed
Lincoln Students' Union
Brayford Pool
Lincoln
LN6 7TS