for the year ended 31 July 2011

Contents
Welcome from the President and the Chief Executive Trustees Report KCLS You Told Us New Strategy and Ambition Our Impact Behind the Scenes Operational and Financial Review Independent Auditors Report Statement of Financial Activities Balance Sheet Cash Flow Statement Notes to the Accounts Legal and Administration Information 03 04 05 07 08 16 17 23 24 25 26 27 40

02

Welcome from the President

Hello and welcome to the KCLSU Annual Report for 2010/2011, The past year saw KCLSU face challenges, triumphs and most importantly we continued to develop our approach to becoming an effective student lead organisation. At times of great change it is important that the organisation is able to adapt to provide what is best for our members. The new strategy which exists from 2011-2014 confirms KCLSUs values; which were collated as a result of the largest student research project we have undertaken and allow us to remain relevant to the experience of Kings students. The dramatic change to Higher Education from the governments proposals to increase tuition fees was met with much resistance from students on a national level. This highlighted the importance of representation being at the heart of KCLSU as the Student Officers embarked on a high profile campaign against the increase which was sparked by students, KCLSU Student Council members and the wider student movement. The political focus of last year spread across Kings and we saw a large range of students becoming more active in making their voice heard. These voices were echoed in our Student Council which successfully passed twelve motions supporting various policies and campaigns. The most active the Council has ever been. With an increased number of students contributing to Activity Groups which are run by innovative, passionate and committed individuals - we have continued to develop our presence on and off campus and offer a diverse range of opportunities of involvement and skills development to our members. Plus we continue to value our relationship with the College and also their Alumni Association. These key partnerships have allowed KCLSU to develop and create more positive change for the benefit of the Kings student experience. As we move into another year we will, undoubtedly, meet more change and challenges. The turbulent nature of Higher Education as we know it and the ever-changing student body, will continue to make KCLSU relevant, adaptable and most importantly able to benefit the happiness of Kings students. Thank you to everyone that has contributed to KCLSU this past year, colleagues, supporters and of course the students themselves. We look forward to the successes ahead! Hannah Barlow KCLSU President

Welcome from the Chief Executive

2010/11 was my first full academic year as Chief Executive and it was a challenging but immensely rewarding period. As the pages, pictures and numbers of this report show, KCLSU took a number of brave decisions this year, amongst them: Our officers fought against the proposed tuition fee increase as high profile leaders in a campaign which raised the profile of the value of Eduation across the nations conscience. Together we re-defined why KCLSU is here and what our students need us to prioritise for the years ahead.t We re-structured the staff team to enable us to deliver our new ambition and strategic priorities. This affected staff who stayed with us,left us to take on new opportunities or who joined us during a period of considerable change. I am confident that this bravery has left KCLSU stronger and more able to adapt to what our students need from their students union in the future and hugely proud of the way in which the team responded to these challenges. Its also been another year of successful partnership with the College as they have invested significantly in developing student social spaces and agreed additional funding for KCLSU posts focussed on widening participation in Higher Education, student skills development and advice. Our students have continued to engage more with what we do; joining our activity groups, volunteering in the community, voting in our elections and socialising through KCLSU in record breaking numbers. It is a testament to the strength of KCLSU staff and officers that amidst all the changes that this year has brought they have been able to continue to deliver so much to so many of our students. Imogen Wiltshire KCLSU Chief Executive

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Trustees Report
2010/11 was a year of change. We completed the last year of our 2008-2011 strategy and undertook a major research exercise to establish what our students want from us for the next three years. The results of the research resulted in a new strategy and ambition which can be found on page five.

Our Vision: the long term goal A world in which every Kings student realises his or her hopes and dreams and fulfils their potential as a student and a citizen
Our Mission: why we exist
__________________________________________________ KCLSU works to represent and support Kings students in practical ways in order to ensure that now and in the future they: Enjoy studying and living at Kings and in London Feel comfortable and happy in their surroundings Develop and broaden their intellectual, social and personal skills and cultural interests and have fun Experience a high quality of teaching, delivered by professional staff Benefit from high standard courses and the award of a degree that will be respected by employers KCLSU will work in partnership with Kings College London, the local community and other organisations to achieve this and ensure that students are able to influence change that makes a difference to their student experience.

Our Strategic Aims:

__________________________________________________ Ensure that every student voice is heard Provide pro-active student support and advice Make informal learning a part of everyday student life Champion the role of students in society

04

KCLS You told us...

In 2010/11 we took a long hard look at who we are and what we do; the result is our new strategy, which recognises the fee changes to the Higher Education sector and the resulting impact on student expectations of Kings College and KCLSU.

In the short term there are financial challenges that KCLSU will face but there are also medium term financial opportunities created by the increased emphasis on the student experience. We believe that this means that the next three years for KCLSU will be based on consolidation, quality improvement and positioning ourselves for the future so that we are ready to seize opportunities as they arise. We have committed to few new initiatives in the new strategy, but instead increased focus on doing what our students have told us they want us to do and do well.

We searched long and hard to articulate our ultimate ambition and after testing with students and staff our new vision is more focussed on the value of their time at College; their student experience rather than their wider aspirations. Based on the research we felt that the ultimate value that we could deliver to our members is an improved satisfaction with their entire experience at Kings; not solely the goal of achieving recognition for the fact that KCLSU contributed to that improved experience. Because of our commitment to improving students experience whilst at College, our test as a representative body is to make sure the barriers to student satisfaction are identified and acted upon, leading to an increase in students positive experiences in Higher Education. The KCLS You Tell Us research project which ran from October to March included widespread consultation with Kings students on what they need from us, plus KCLSU staff were consulted on ways we could deliver on these student priorities. The results of these months of research have come together to form our headline strategy below:

The thinking behind our strategy is that we will be:

Focussing our energies and finances over the next three years on extending the reach of our existing services, not increasing the range of them. Focussing on being great at what we do, and delivering consistency across the organisation and across all five campuses. Focussing on the Kings student experience whilst they are here, but working in partnership with others who support them before they come and after they leave. Focussing on making sure that more students have more fun, develop more skills and achieve more change so that they have a great student experience at Kings.

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KCLS You told us...

This structure will guide our work from 1/8/11 onwards and we will also be reviewing the way we talk about our values as an organisation in the 2011/12 academic year.

2011-14 new ambition, mission, strategic priorities with key objectives for 2011/12

06

So what has KCLSU been up to in 2010/11?

07

Improved support and guidance for involved students Better feedback and awareness of representatives achievements to the wider student body KCLSU perceived as key facilitators of change

08

Ensuring every student voice is heard

People power
Over 500 Kings students marched through London to protest against the planned rise in tuition fees and despite the vote on raising home undergraduate tuition fees to 9K being passed in December 2010, we did prove ourselves as the voice of Kings students with regular appearances in the Evening Standard, BBC, Channel 4 and Radio 4 as well as a balloon release, a political tube crawl, a video, lecture shout outs, huge engagement at the parliamentary lobby and a very well attended Q&A session with Simon Hughes MP This commitment to training and support resulted in much stronger attendance, improved policy proposals and debate and a greater feeling of involvement and enthusiasm Formed a very strong working relationship with senior staff and students at the Institute of Psychiatry (IoP) that resulted in the re-development of the IoP Forum with clear KCLSU and Committee involvement, structure and elected representatives from every course within the school

Strengthening the student sporting voice

The Sports Forum was re-launched following the very successful pilot in 09/10 with an increased vigour and improved engagement. The brand new forum debated the development of the joint Kings / KCLSU Sports Strategy for 2012-16, agreed a new membership fee level and supported Kia Alam, Vice President Student Activities and Facilities, in his efforts to work with College timetabling services to keep Wednesday afternoons free for student activity

Giving more students more of a say in KCLSU

2010/11 saw the most successful ever Spring Elections with 40 candidates for Student Officer and Trustee positions and a record breaking 4,024 votes cast over the three day period We also held the biggest Annual General Meeting in KCLSUs charity history, which saw the inclusion of a motion debate where a Summer Ball for 2012 was approved and the inclusion of termly Members Meetings and Referenda into KCLSU democracy structures, resulting in greater opportunities to shape and lead the debate and a much more open and accountable union

Supporting our student representatives

Complete re-structure of training and support for Student Council members to include external training through Southwark Volunteering Centre, one to one staff support, improved feedback procedures, and a strong involvement of Councillors in the KCLSU Lion Award and Leadership Skills Programme.

09

Manage the service to cater for the growth in student demand Educating students to help themselves to access advice when they need it Provide students with clear expectations of what they can expect from the service

10

Providing pro-active student support and advice

Were here to help

The Advice Service handled 584 new student cases during 2010/11, 34% of which were postgraduate students. 16% of these cases related to misconduct but the significant area of advice given was appeals, of which 34% of casework amounted to. The rest of the cases handled were complaints, mitigating circumstances and more general enquiries.

Reaching out
The Advice Service developed five online videos to guide students through the process of completing forms which are necessary to make an appeal, submit mitigating circumstances and lodge a complaint. The videos will enable students to access this type of advice 24/7 and from a location convenient to them KCLSU ran its fourth Housing Fair in March and attracted 470 students who visited the stalls and collected information from letting agents and private housing agencies; this empowered students to make informed choices about their rights as tenants

Spreading the word

A document titled Our Agreement With You has been developed which details what students can expect from the Advice Service and what the Service expects of them. Similar information is now included online to ensure that students have managed expectations from their first contact with the service During 2010/11, advice staff attended meetings and training events of KCLSU student staff to inform them about the Service and what it offers. Not only was this a way of communicating how students can use the Service but also a method of educating student staff who are often the first point of contact for other students across our sites Hits on the advice pages increased 7% compared to the 2009/10 academic year

Growing to meet student need

To help us keep up with our ongoing student demand for the Advice Service, we were successful in achieving additional funding from College to fund an additional adviser, expanding our presence on the Waterloo campus.

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Raise the standard of performance and profile of sport at Kings, demonstrating its importance and value to Kings Increase participation in one-off short term activities Activity group members and student reps will benefit from opportunites to develop core skills and be more efficient as a result Student activities will better reflect the demographics of Kings students
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Making informal learning a part of everyday student life

Success in sport
In competitive sport Kings had one of the most successful sporting seasons to date, with increased levels of participation and performance in both BUCS and ULU with 8 league wins, 2 Cup wins, National Championship silver medals which secured a ranking within the Top 50 institutions in the country - Kings highest ranking position since the creation of BUCS Three of KCLSUs Elite Athletes have had notable successes in 2010/11. On the water, Zoe Lee trained with the GB Rowing senior squad with three athletes who recently won a silver medal at the world cup and Ryan Chamberlain won a bronze medal in the GB Paralympic rowing crew. On the track, Antonio Infantino won the Hertfordshire Athletic Championship 200m and secured a silver medal at the BUCS National Finals Two of the largest events in the sporting calendar, The Macadam Cup and The London Varsity against UCL were both incredibly successful, attracting large crowds totalling over 1,000 students and collectively raising nearly 4,000 for the international sport for development charity Right to Play and Commercial Awareness. 51 students successfully completed the Lion Award: 100% of students were satisfied or very satisfied with how the programme met their personal objectives and 100% of students would recommend the Lion Award programme to a friend

Aware and on the air

Kings students have continued to excel in their dedication to student media, with Roar attracting a number of high quality contributions and KCL Radio broadcasting live for the first time in its history at KCLs triumph over UCL in the London Varsity, which added to the sense of achievement The Festival of Faith event concluded a successful year for the newly established interfaith network. This innovative initiative was well received by students, College and nationally with NUS choosing KCLSU as the host Union for the launch of their Inter-faith tool kit It was a particularly impressive year for our African and Caribbean Society (ACS) which was recognised as the KCLSU Society of the Yearand as National ACS of the Year by the National African and Caribbean Company. The Groups Culture Shock event showcased the culture and talents of members through drama, fashion, poetry, song and dance. It was attended by more than 800 guests and invited children from local schools and all profits went to charity

Giving students the tools

2010/11 was the first year of the KCLSU skills project. We recruited a part time skills specialist to lead a new leadership award and skills programme. KCLSU skills programmes had 134 student participants. Working in partnership with the College Careers Service and Kings Business, the Lion Award was Kings first student Leadership Award, covering four employability areas: Team Work, Communication, Project Management

13

Increase the number of students taking part in volunteering and community engagement Embed the Student Community Engagement Fund KCLSU will be represented within and seen as valuable to the local community

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Championing the role of students in society

Crowning achievements
Various student groups such as RAG, ISOC, UN World Food undertook a diverse range of fundraising activities to raise over 65,000 for local, national and overseas charities KCLSU Crowns and Colours Awards celebrated over 900 students, recognised for their exceptional commitment to Student Activity Groups, Volunteering or Club activity. 250 students attended the celebration evening as well as the KCLSU President and the KCL Principal

As part of Volunteer Englands Student Volunteering Week KCLSU organised more than 30 events in partnership with local charities and organisations such as Bankside Open Spaces Trust and Southbank Mosaics. Over 300 students also attended KCLSUs first ever Student Volunteering Fair, providing an opportunity for existing Kings volunteering groups to increase awareness and recruit new members

Recognising potential
KCLSU successfully applied for 6,000 of funding from the Big Lottery Fund to support and develop volunteer training programmes for 2011/12 KCLSU provided 7,500 of funding through the Community Engagement Fund to support nine student groups to deliver student led volunteering projects in the local community from delivering healthy heart education in local primary schools to running cheerleading sessions in care homes

Impact in the community

More than 1,000 students registered as volunteers across 42 different student volunteering groups and student-led volunteering projects and 170 students took part in KCLSUs volunteering impact assessment. 85% of respondents felt they had gained skills that employers would find useful, and 60% said they felt their chances of being employed were improved through their volunteering

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Behind the scenes

Restructure and voluntary leavers scheme
__________________________________________________ In Autumn 2010 we began to look in depth at our forward forecasts for the next three years. We could see that the future demands on us financially would outstrip what we could provide if our staff structures continued as they were. We recognised that commercially these may be testing times but they were also potentially exciting ones, provided that we have the financial flexibility to seize opportunities and to truly respond to what our students tell us they want from us and anticipate their future needs. As a result we took the difficult decision to undertake a voluntary leavers scheme for all KCLSU permanent staff and a organisation-wide restructure. Our staff team and officer teams responded admirably to the challenges of these changes. We said goodbye to eight of the permanent team at the end of July and welcomed, through salary re-distribution and additional ring-fenced funding from College, 11 new faces at the end of the academic year.

Governance

__________________________________________________ 2010/11 saw KCLSU undertake reviews of our key governing documents We revised and updated our Articles of Association, bringing them up to date with the provisions of the 2006 Companies Act; at the same time facilitating improved and simpler means for students to participate in democratic processes The Memorandum of Understanding which defines the relationships between KCLSU and our partner body, Kings College London was revised and re-written to reflect changes in the way we work together. We started a review of the Bye-Laws by which the students engage and can build policy. This will be an ongoing exercise and forms part of a wider planned review of student representation

Spaces for students

__________________________________________________ With College Estates and with main funding by the College Careers Service we have redeveloped former administrative space on the first floor of the Macadam Building to provide a Skills Development Area and meeting room. Its title, The Bridge reflects the aim of providing students with skills to help them cross the bridge between academia and the job market. Informal learning and social space has been at a premium, particularly on the Strand campus, for many years. In 2011, we are delighted to have secured the commitment of

College and significant resources from them in redeveloping disused space on Floor -2 of the Macadam Building into a contemporary and excitingly specified lounge and study area. This space, The Lobby, which also provides a reception facility, bookable meeting room and dedicated room for the Advice Service, has been well received and is now heavily in demand from students. At the same time, we commenced developing a vision for KCLSU space at Boland House, Guys campus. This initiative is at an early stage and will involve wide consultation with students to work out what facilities they would like at the campus and how this might translate into proposals which can be considered by the Trustees and the College.

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Operational and Financial Review Independent Auditors Report Statement of Financial Activities Balance Sheet Cash Flow Statement Notes to the Accounts

Kings College London Students Union Consolidated Statement of Financial Activities and Balance Sheet for the year ended 31 July 2011

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Operational and Financial Review

Income
__________________________________________________ Unrestricted income for the year increased by 0.7% to 4.53 million overall. Whilst unrestricted income in the form of grants increased by 3.3%, income from trading activity fell by 1.9% reflecting continuing competitive trading conditions.

Kings College London Students Union Consolidated Statement of Financial Activities and Balance Sheet for the year ended 31 July 2011

Development and Capital Funds

__________________________________________________ These designated funds include monies set aside for future development projects and to fund depreciation charged on capital expenditure projects undertaken in previous years.

Costs

Fixed assets

__________________________________________________ The total expenditure from all unrestricted (including designated) funds for the year was 4.8 million, a decrease of just under 3%. Costs included a restructuring initiative involving a voluntary leavers scheme. In total this cost 79,000.

__________________________________________________ KCLSU invested 39,000 during the year on building development and medium maintenance projects.

Reserves

__________________________________________________ Net outflow of funds was 317,000 resulting in total assets reducing to 1.91 million. The general reserve which can be used to fund operations increased to 1.16 million. KCLSU remains in a sound financial position as the general reserves provide seven months cover for operational costs after taking account of the College grant.

Outcome

__________________________________________________ The outcome for the year was an operating surplus before transfers of 54,000. A transfer of 39,000 was made to the capital reserve to fund fixed asset purchases and medium term maintenance. The capital fund designated for funding depreciation charges for completed development projects was drawn upon to the extent of 329,000. After all transfers the unrestricted (general) reserves reduced by 275,000.

Restricted Funds

__________________________________________________ These funds comprise: monies held for Student Activity Groups (ratified clubs and societies which are branches of KCLSU) the unspent balance of a College special project grant for volunteering work grants received from the Kings College London Annual Fund

The Annual Fund grants have been provided for specific student facing projects.

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Operational and Financial Review

Kings College London Students Union Consolidated Statement of Financial Activities and Balance Sheet for the year ended 31 July 2011

The charts below show performance over the past three years in terms of: Total income in all unrestricted funds / Total expenditure from all unrestricted funds / Unrestricted reserves

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Operational and Financial Review

Reserves Policy
__________________________________________________ KCLSU reserves policy is that general (unrestricted) reserves should be maintained in the range of three to nine months operating costs after deducting the College grant at any one time. At this level we believe that we would be able to continue the student facing activities of the organisation in the event of a significant decline in non-College funding whilst allowing time to re-establish or re-focus income generating activities. As at 31 July 2011 our reserves met these targets providing 7 months cover.

Kings College London Students Union Consolidated Statement of Financial Activities and Balance Sheet for the year ended 31 July 2011

Subsidiary companies

__________________________________________________ KCLSU has wholly owned trading subsidiary KCLSU Limited. This company operates non-student trading activities on behalf of the Union. Profits generated by KCLSU Limited are transferred to the Union under the gift aid scheme. The accounts show, and these comments refer to, the consolidated position taking into account the financial performance of both organisations. A note about the trading subsidiarys performance is included within these accounts.

Investment Policy and Performance

__________________________________________________ KCLSU Finance Committee has a policy whereby funds not committed to project activity or invested in tangible fixed assets should be invested at low risk to obtain the best rate of return. This precludes investing in instruments such as equities and bonds which, whilst offering potential of higher return over the long term, carry higher risks. As interest rates reduced and remained low during the year, the income from investments fell by some 5,400 (-15%).

Structure, governance and management

__________________________________________________ KCLSU is governed by a Board of Trustees; the Trustees are also Directors of the charitable company. Two-thirds of the Board are current students of Kings College London who are elected by the members of KCLSU (Kings College London students) annually. Student Trustees may be elected for terms of up to two years. There are also four non-student Trustees on the Board who are appointed for their particular professional knowledge and skills. Appointed Trustees may serve for an initial term of four years, renewable for one further term of four years. All Trustees and especially incoming Trustees undertake an induction programme and are given briefings on the organisations operations and goals. The induction programme covers the role of Trustee, KCLSUs vision, mission and values, regulatory requirements and the relationship between Trustees and Executive. Extensive use is made of materials produced by the Charity Commission and opportunities for Trustees to attend NCVO events are also highlighted. The Trustees are responsible for the overall performance and strategic direction of KCLSU on behalf of its members, the 24,000 students of Kings College London. In this respect the Board undertakes self-assessment and further development initiatives as required to ensure that they work to high standards.

Risk management

__________________________________________________ The Trustees are responsible for KCLSUs risk management and the effectiveness of internal controls. On behalf of the Trustees, the senior management team performed a review of major risks and the mitigating measures which was reviewed by the audit committee. Our business continuity plans are updated regularly and the call cascade checked for efficacy. In 2010/11 no major incidents occurred which required the BCP to be invoked. During 2011/12 we are undertaking work to further refine policy and embed risk management within our operational structures and decision making processes.

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Operational and Financial Review

How governance works
__________________________________________________ The role of the Trustees at KCLSU is threefold: To provide leadership through governance To be the strategic partner for senior management To fulfil their fiduciary responsibilities under charity law, the Education Act, company law and the memorandum of understanding between Kings College London and KCLSU

Kings College London Students Union Consolidated Statement of Financial Activities and Balance Sheet for the year ended 31 July 2011

Employees

__________________________________________________ We employ 40 permanent team members and on average 111 part-time team members (predominantly students of Kings College London). Our teams work across four campuses in London and their dedication and commitment are at the heart of our achievements. Our team members have a wide variety of talent and experience, coming from a variety of backgrounds including former students of Kings College London, industry experts and managers with both private and charity sector experience; this diversity encourages a team atmosphere and a culture of innovation and entrepreneurship. During the year KCLSU undertook a restructure programme. This was in recognition of the need to concentrate resources in front line student facing roles and contain staff costs. This restructuring was achieved by a voluntary leavers scheme and agreed requests for unpaid extra leave. No compulsory redundancies were needed and the change was managed without interruption to any KCLSU services. We are committed to ensuring that no one at KCLSU is discriminated against, either directly or indirectly, on the grounds of gender, marital status, racial or ethnic origin, disability, sexual orientation or age; and we will strive in all we do to serve the interests of our staff from all sections of society.

Day to day operational and staff management is delegated to the Chief Executive (CE) who is responsible to the Trustees for strategy development, implementation and operational performance. Representation of students is delegated to the President who, along with fellow Sabbatical Officers, focuses on policy, lobbying and advocacy and together with an elected, but non-governing, Student Council ensures that the voice of Kings students is heard. The Officers and Council are aided by a Clerk to Council appointed from the Board. The Board meets up to eight times per year. In addition there are four sub-committees on which Trustees may work in order to develop closer working relationships with staff and to advise the board, as follows: Finance Committee to ensure that the financial assets of KCLSU are being applied appropriately Audit Committee to review the effectiveness of risk management and financial controls, and receive external audit opinion on the organisations financial statements Governance and Policy Committee to ensure governance procedures are being adhered to and developed as necessary Human Resources Committee to review people management policies and procedures and the reward and recognition frameworks.

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Operational and Financial Review

Trustees Responsibility for the Accounts and Financial statements Public benefit
__________________________________________________ In preparing financial statements, KCLSUs Trustees are required to: Prepare financial statements which give a true and fair account of the affairs of KCLSU Select suitable accounting policies and then apply them consistently Make judgements and estimates that are reasonable and prudent State whether applicable accounting standards have been followed subject to any material departures disclosed and explained in the financial statements Prepare financial statements on the going concern basis unless it is inappropriate to presume that the company will continue on that basis

Kings College London Students Union Consolidated Statement of Financial Activities and Balance Sheet for the year ended 31 July 2011

__________________________________________________ The Trustees have a duty to report on public benefit by explaining: The significant activities undertaken in order to carry out our aims for the public benefit, and Our achievements measured against those aims

In addition, the Trustees are required to confirm that they have had regard to the Charity Commissions guidance on public benefit.

With Thanks

__________________________________________________ The Trustees would like to thank the student volunteers, student staff and permanent staff who have supported the work of KCLSU over the past year. We would also like to thank others who have championed the role of KCLSU, in particular Professor Rick Trainor, Principal of Kings College London and his teams. With all your continuing support and endeavour we look forward to significantly improving our organisation for the benefit of students at Kings College London. On behalf of the Trustees

The Trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy the financial position of the association. They are also responsible for safeguarding the assets of the association and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities, as well as exercising proper financial controls.

Auditors

__________________________________________________ The Trustees have taken all the steps necessary to make themselves aware of any relevant information that should be drawn to the attention of the auditors and to establish that the auditors are aware of such information. So far as each Trustee is concerned there is no information relevant to the audit of which the auditors are unaware. Knox Cropper will offer themselves for re-election as auditors of KCLSU at the next Annual General Meeting. .. Hannah Barlow Chair of Trustees 09/02/12

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Independent Auditors Report

To the members of Kings College London Students Union Opinion on financial statements
__________________________________________________ In our opinion the financial statements: give a true and fair view of the state of the groups and parent companys affairs as at 31 July 2011 and of the groups loss for the year then ended have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice applicable to Smaller Entities have been prepared in accordance with the requirements of the Companies Act 2006 and the Statement of Recommended Practise for Charity Accounts (SORP) 2005 __________________________________________________ We have audited the consolidated financial statements of Kings College London Students Union for the year ended 31 July 2011 which are set out on pages 24 to 37. The financial reporting framework that has been applied in their preparation is applicable law and the Financial Reporting Standard for Smaller Entities (effective April 2008) (United Kingdom Generally Accepted Accounting Practice applicable to Smaller Entities). This report is made solely to the companys members as a body, in accordance with Sections 495 and 496 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the companys members those matters we are required to state to them in an auditors 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 company and the companys members as a body, for our audit work, for this report, or for the opinions we have formed.

Opinion on other matter prescribed by the Companies Act 2006

__________________________________________________ In our opinion the information given in the Directors Report for the financial year for which the financial statements are prepared is consistent with the financial statements.

Respective responsibilities of directors and auditors

__________________________________________________ As explained more fully in the Directors Responsibilities Statement set out on page 22, the Directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view. Our responsibility is to audit the financial statements in accordance with applicable law and International Standards on Auditing (UK and Ireland). Those standards require us to comply with the Auditing Practices Boards Ethical Standards for Auditors.

Matters on which we are required to report by exception

__________________________________________________ We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion: adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us the financial statements are not in agreement with the accounting records and returns certain disclosures of Directors remuneration specified by law are not made we have not received all the information and explanations we require for our audit the Directors were not entitled to prepare the financial statements and the Directors Report in accordance with the small companies regime.

Scope of the audit of the financial statements

__________________________________________________ An audit involves obtaining evidence about the amounts and disclosures in the financial statements sufficient to give reasonable assurance that the financial statements are free from material misstatement, whether caused by fraud or error. This includes an assessment of: whether the accounting policies are appropriate to the companys circumstances and have been consistently applied and adequately disclosed; the reasonableness of significant accounting estimates made by the directors; and the overall presentation of the financial statements.

K. Lally (Senior Statutory Auditor) for and on behalf of Knox Cropper Chartered Accountants, Statutory Auditor, Registered Auditors and Chartered Accountants 8/9 Well Court London EC4M 9DN

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Statement of Financial Activities

INCOME Incoming Resources from Generated Funds Grant Income College Grant Capital Grant Activities for Generating Funds Rental Income and Premises Hire Sponsorship and Marketing Income Subsidiary Company Income Interest Receivable Voluntary Income Incoming Resources from Charitable Activities Student Community Venues Student Wellbeing and Fitness Centre Student Activitiy Groups Other Income VAT recoveries relating to prior periods Other Income
NOTES Unrestricted Fund 2011 Designated Fund 2011

Kings College London Students Union Consolidated Statement of Financial Activities for the year ended 31 July 2011

Restricted Fund 2011

Total 2011

Total 2010

2,835, 444 27,526 46,613 529,096 28,618 -

19,612 -

2,855,056 27,526 46,613 529,096 28,618 -

2,760,402 60,000 20,606 47,661 547,999 33,912 210

6 5

3 4

850,634 195,319 -

341,338

850,634 195,319 341,338

894,448 188,268 287,968

21,670 4,534,920

360,950

21,670 4,895,870

14,204 13,323 4,869,001

EXPENDITURE Costs of Generating Funds Communications and Marketing Subsidiary Company Expenditure Charitable Activities Student Representation & Communication Student Activity Student Activity Groups Student Community Venues Student Wellbeing and Fitness Centre Governance Other Resources Expended

12 5 8 9 9 3 4 11

114,839 489,662 724,230 707,839 117,584 1,696,759 489,721 140,077 4,480,711

12,129 75,145 71,787 91,937 61,861 16,250 329,109

10,000 11,512 282,254 85,851 13,554 403,171

136,968 489,662 799,375 791,138 399,838 1,874,547 565,136 156,327 5,212,991

132,504 516,308 781,246 726,359 437,606 1,937,916 586,588 154,235 5,272,762

NET PROFIT (LOSS) FOR THE YEAR NET PROFIT (LOSS) FOR THE YEAR Transfers NET PROFIT (LOSS) FOR THE YEAR AFTER TRANSFERS Reserves Brought Forward as Previously Reported 17 Prior Year Adjustment Reserves Brought Forward now Reported RESERVES CARRIED FORWARD 17 24 54,209 (39,469) 14,740 1,142,952 1,142,952 1,157,692 (329,109) 39,469 (289,640) 654,706 654,706 365,066 (42,221) (42,221) 192,710 235,621 428,331 386,110 (317,121) (317,121) 1,990,368 235,621 2,225,989 1,908,868 (403,761) (403,761) 2,324,723 305,027 2,629,750 2,225,989

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Balance Sheet
NOTES

Kings College London Students Union Consolidated Balance Sheet at 31 July 2011

Group 2011

Group 2010

Parent 2011

Parent 2010

Fixed Assets Investments CURRENT ASSETS Stock Debtors and Prepayments Cash at Bank and in Hand 55,673 178,625 1,871,498 2,105,796 (630,926) 13 14

432,173 1,825

821,217 1,810

432,173 1,824

821,217 1,811

15

71,767 200,550 1,555,542 1,827,859 (424,897) 1,474,870 1,402,962

55,673 178,625 1,871,499 2,105,797 (630,926) 1,474,871

71,767 205,543 1,542,351 1,819,661 (416,700) 1,402,961

CREDITORS: Due within one year NET CURRENT ASSETS

16

CREDITORS: Due after more than one year 1,908,868 FINANCED BY: FUNDS Restricted Funds Undesignated Funds Designated Funds Capital Fund Development Fund 17 General Reserve 1,157,692 1,908,868 1,142,952 2,225,989 1,157,692 1,908,868 1,142,952 2,225,989 386,110 428,331 386,110 428,331 2,225,989 1,908,868 2,225,989

295,953 69,113

585,593 69,113

295,953 69,113

585,593 69,113

Hannah Barlow, Chair of Trustees 31 January 2012

Mike Hansen, Chair of Audit Committee 31 January 2012

25

Cash Flow Statement

NOTES

Kings College London Students Union Consolidated Cash Flow Statment for the year ended 31 July 2011

2011

2010

NET CASH INFLOW FROM OPERATING ACTIVITIES 22(a)

358,152

237,977

RETURNS ON INVESTMENTS AND SERVICING OF FINANCE Part sale of investment Interest Received Bank Charges Paid (15) 28,617 (31,329) (2,727) CAPITAL EXPENDITURE Payments to acquire tangible fixed assets FINANCING Capital Grant Recieved Loan Received Increase (Decrease) in Cash 22(b) 315,956 (39,469) (39,469) (175,154) (175,154) (15) 33,912 (32,576) 1,351

64,174

RECONCILIATION OF NET CASH FLOW TO MOVEMENT IN NET DEBT/FUNDS Increase (Decrease) in cash in period 315,956 64,174

26

Notes to the Accounts

1. Accounting Policies
(a) Accounting Convention: The accounts are prepared under the historical cost convention.

Kings College London Students Union Notes to the Financial Statments for the year ended 31 July 2011

(f) Capital Grants Capital grants received to fund fixed assets are accounted for in the statement of financial activities as restricted funds when the Union becomes entitled to receive them. Depreciation of the related fixed assets is charged against the restricted fund. (g) Pension Schemes The Union participates in the Student Union Superannuation Scheme, a defined benefit scheme which is externally funded and contracted out of the State Second Pension. The fund is valued at least every three years by a professionally qualified independent actuary with the rates of contribution payable being determined by the trustees on the advice of the actuary. The scheme operates as a pooled arrangement, with contributions paid at a centrally agreed rate. As a consequence, no share of the underlying assets and liabilities can be directly attributed to the Union. Under the terms of FRS17, in these circumstances contributions are accounted for as if the scheme were a defined contribution scheme based on actual contributions paid through the year. (h) Governance Costs Governance costs comprise strategic planning, management and organisational costs including legal advice and audit fees. (i) Consolidation The financial statements consolidate the results of the subsidiary company, KCLSU Limited, which undertakes commercial activities on behalf of the Union and gift aids its annual taxable profits to the Union.

(b) Fixed Assets and Depreciation: Expenditure on major repairs and refurbishment work is capitalised and depreciated over its estimated useful life. Equipment, including motor vehicles, is capitalised and depreciated over the estimated lives of the assets. Full year depreciation is provided in the year of purchase. The rates of depreciation currently used are as follows: Building Works Computer Equipment Other Equipment - 10% to 25% - 33% - 33%

Grants received to fund the purchase of fixed assets are recognised in the Income and Expenditure Account over the same period of time as the depreciation of the fixed assets. (c) Investments: Investments are valued at cost. (d) Stocks: Stocks are valued at the lower of cost and net realisable value. (e) Donations Donations are accounted for in the Statement of Financial Activities when the Union becomes entitled to receive them. Those subject to qualifications on use are classified as Designated or Restricted as appropriate.

27

Notes to the Accounts

2. College Grant
Core Grant Other Grants

Kings College London Students Union Notes to the Financial Statments for the year ended 31 July 2011

2011 2,835,444 19,612 2,855,056

2010 2,743,903 16,499 2,760,402

3. Student Community Venues

Sales Less: Cost of Sales Add: Brewers Discounts Gross Profit Other Income Entertainment Income Games Machines Income Other Direct Costs Salaries and Wages (Note 7) Other Expenditure Indirect Costs Facility Costs (Note 10) Support Costs (Note 12)

income 766,828 -

Expenditure (257,275) 18,511

2011 766,828 (257,275) 509,553 18,511 528,064

2010 740,884 (303,972) 436,912 20,466 457,378

78,670 5,136

78,670 5,136

151,505 2,059

(399,584) (127,236)

(399,584) (127,236) 85,050 (827,152) (281,811) (1,023,913) 68.9%

(409,581) (126,220) 75,141 (845,983) (272,626) (1,043,468) 61.7%

850,634

(827,152) (281,811) (1,874,547)

Gross Profit Percentage

4. Student Wellbeing & Fitness Centre

Sales Other Income Direct Costs Salaries and Wages (Note 7) Other Expenditure Indirect Costs Facility Costs (Note 10) Support Costs (Note 12)

Income 189,630 5,689

Expenditure -

2011 189,630 5,689

2010 185,324 2,944

(82,913) (51,071)

(82,913) (51,071) 61,335 (370,544) (60,608) (369,817)

(105,702) (43,273) 39,293 (378,980) (58,633) (398,320)

195,319

(370,544) (60,608) (565,136)

28

Notes to the Accounts

5. Subsidiary Trading Company KCLSU Limited
Venues Sales Cost of Sales Profit Shop Sales Facilities Charge Contribution from College Cost of Sales Profit Fitness Centre Membership Income Administrative Expenditure Permanent Staff (Note 7) Temporary Staff (Note 7) Other Costs Management Charges Total Administrative Costs

Kings College London Students Union Notes to the Financial Statments for the year ended 31 July 2011

income 312,872 -

Expenditure (80.151)

2011 312,872 (80,151) 232,721

2010 304,395 (90,625) 213,770

164,780 -

(45,094) (70,418)

164,780 (45,094) (70,418) 49,268

136,934 (46,121) 25,000 (60,620) 55,193

51,444

51,444

81,670

(75,883) (81,799) (82,196) (54,121) (293,999) 39,434 39,434 -

(79,925) (99,250) (88,913) (50,854) (318,942) 31,691 31,691 -

529,096 Gift Aid Retained Profit

(489,662)

KCLSU Limited is a subsidiary company set up in August 2009 to develop the commercial operations of the Union. All non-student trading activity is carried out by this subsidiary.

29

Notes to the Accounts

6. Sponsorship and Marketing Income
Sponsorship and Marketing Welcome Fair

Kings College London Students Union Notes to the Financial Statments for the year ended 31 July 2011

2011 16,362 30,251 46,613

2010 17,125 30,536 47,661

7. Staff Costs
Permanent Staff Gross Salaries Employers N.I. Employers Pension Part Time Students Total Staff Costs

2011 1,166,154 116,686 55,715 371,974 1,710,529

2010 1,099,450 105,362 53,577 458,402 1,716,791

Allocated as Follows: Student Community Venue Staff Costs Student Wellbeing and Fitness Centre Staff Costs Subsidiary Trading Company Costs Student Officer Costs Student Representation Staff Costs Student Activities Staff Costs Facilities Staff Costs Support Staff Costs

399,584 82.913 157,682 103,710 155,228 223,312 96,587 491,513 1,710,529

409,581 105,702 179,175 86,831 154,433 192,136 123,575 465,358 1,716,791

The average number of permanent staff during the year was 40 The average number of student staff during the year was 111 There were no employees earning in excess of 60,000 at the year end

(2010: 38) (2010: 147) (2010: None)

30

Notes to the Accounts

8. Student Representation
Student Officer Salaries (Note 7) Staff Salaries and Wages (Note 7) Staff Travel and Expenses Staff and Officer Training Subscriptions and Affiliation Fees Democratic Services Election Expenses Advice Facility Costs (Note 10) Support Costs (Note 12)

Kings College London Students Union Notes to the Financial Statments for the year ended 31 July 2011

2011 103,710 155,228 900 511 49,347 5,282 113 5,762 321,009 157,513 799,375

2010 86,831 154,433 524 843 49,906 601 17 7,395 328,317 152,379 781,246

9(a). Student Activity

Salaries and Wages (Note 7) Student Activity Group Development Volunteering Project Information and Campaigns Facility Costs (Note 10) Support Costs (Note 12)

2011 223,312 23,393 1,900 32,609 325,017 184,907 791,138

2010 192,136 19,674 3,253 332,416 178,880 726,359

9(b). Student Activity Groups

Expenditure from Grant Allocation Expenditure from Self Generated Funds

2011 117,584 282,254 399,838

2010 154,640 282,966 437,606

Student Activity Groups are listed in Appendix 1.

31

Notes to the Accounts

10. Facilities
College Space Charge Salaries and Wages (Note 7) Maintenance Cleaning Depreciation of Building Works Other Costs Support Costs (Note 12) Apportioned to Charitable Activities as follows: Trading Social Venues Shop Gym Student Support Student Representation Student Activity

Kings College London Students Union Notes to the Financial Statments for the year ended 31 July 2011

2011 1,322,692 96,587 21,536 68,759 310,758 68,484 1,888,816

2010 1,254,744 123,575 26,418 69,600 387,947 3,280 66,252 1,931,816

(827,152) (45,094) (370,544)

(845,984) (46,121) (378,980)

(321,009) (325,017) (1,888,816)

(328,317) (332,416) (1,931,816)

The apportionment of Facility Costs is based on floor area.

11. Governance
Audit Legal and Professional Board Meeting and Trustee Expenses Support Costs (Note 12)

2011 10,000 4,791 4,568 136,968 156,327

2010 10,214 3,316 8,201 132,504 154,235

32

Notes to the Accounts

12. Facilities
Salaries and Wages (Note 7) Staff Training Staff Recruitment Stationery and Photocopying Telephone and Postage General Insurance Depreciation of Equipment and Vehicles Information Technology Internal Communications and Promotions Strategy Development Redundancy Expenditure Innovation Fund Accountancy Fees Bank Charges Other Expenditure Apportioned to Charitable Activities as follows: Social Venues Student Wellbeing and Fitness Centre Student Representation Student Activity Facilities Union Communication and Marketing Governance

Kings College London Students Union Notes to the Financial Statments for the year ended 31 July 2011

2011 491,513 45,591 41,419 11,849 17,718 46,487 117,755 44,325 55,395 58,599 11,088 43,509 31,329 10,682 1,027,259 (281,811) (60,608) (157,513) (184,907) (68,484) (136,968) (136,968) (1,027,259

2010 465,358 44,449 51,179 9,527 17,361 39,850 119,191 40,319 69,109 12,088 5,455 49,208 32,575 38,109 993,778 (272,626) (58,633) (152,379) (178,880) (66,252) (132,504) (132,504) (993,778)

Support costs have been allocated based on the number of permanent staff in the various activities.

33

Notes to the Accounts

13. Fixed Assets Group and Parent
Cost: at 31 July 2010 Disposals Additions At 31 July 2011 Depreciation: At August 1 2010 Eliminated on disposals Charge for the Year At 31 July 2011 Net Book Value: At 31 July 2011 At 31 July 2010

Kings College London Students Union Notes to the Financial Statments for the year ended 31 July 2011

Building Works 2,818,709 (1,733,932) 18,265 1,103,042

Motor Vehicles Union Equipment 23,535 23,535 573,965 (203,498) 21,205 391,672

Total 3,416,209 (1,937,430) 39,469 1,518,248

2,178,896 (1,733,932) 310,758 755,722

4,707 4,707 9,414

411,389 (203,498) 113,049 320,940

2,594,992 (1,937,430) 428,513 1,086,075

347,320 639,813

14,121 18,828

70,732 162,576

432,173 821,217

Fully depreciated assets totalling 1,937,430 have been written out of the books as their useful economic lives have effectively come to an end

14. Investments
KCLSU Limited NUS Services Limited Other

Group 2011 1,260 585 1,825

Group 2010 1,260 550 1,810

Parent 2011 1 1,260 583 1,824

Parent 2010 1 1,260 550 1,811

The holdings in NUS Services Limited consist of 60 A shares of 1 each and 60 B shares of 20 each. Investments include a holding of 100% of the issued ordinary capital in KCLSU Ltd, the trading subsidiary of the Union. KCLSU Ltd is a company registered in the United Kingdom and it undertakes the commercial activities of the Union. The company was incorporated on 12 August 2009.

15. Debtors
Trade Debtors Other Debtors and Prepayments

Group 2011 32,474 146,151 178,625

Group 2010 23,545 117,005 200,550

Parent 2011 32,474 146,151 178,625

Parent 2010 23,545 181,998 205,543

34

Notes to the Accounts

16. Creditors
Due within one year Trade Creditors Other Creditors

Kings College London Students Union Notes to the Financial Statments for the year ended 31 July 2011

Group 2011 132,903 498,023 630,926

Group 2010 127,913 296,984 424,897

Parent 2011 132,903 498,023 630,926

Parent 2010 127,913 288,787 416,700

17. Funds
Restricted Student Activity Groups Volunteering Fund Annual Fund Capital Grants Total Restricted Designated Capital Fund Development Fund Total Designated General Reserve Total Reserves

Balance Brought Forward

Income

Expenditure

Funding of Amount Released New Designation Fixed Assets from Development to Development Additions Fund Fund

Balance Carried Forward

133,116 59,594 235,621 428,331

341,338 19,612 360,950

(282,254) (1,900) (19,612) (99,405) (403,171)

192,200 57,694 136,216 386,110

585,593 69,113 654,706 1,142,952 2,225,989

4,534,920 4,895,870

(329,109) (329,109) (4,480,711) (5,212,991)

39,469 39,469 (39,469) -

295,953 69,113 365,066 1,157,692 1,908,868

The Restricted Volunteering Fund represents the unspent balance of the College special project grants for volunteering and grants received from other sources for use in specific projects. The Restricted Student Activity Groups Fund represents the unspent balances of all Student Activity Groups. The Restricted Capital Grants represent capital funding for building schemes less depreciation charged on these schemes. The Capital Fund represents the extent to which Union Funds have been utilised to finance Capital works and other fixed assets. Depreciation of 329,109 has been charged to this fund. The Development Fund represents the unspent balance set aside for development works on KCLSU facilities e.g. student rooms, venues and offices.

18. Operating Lease Commitment

At 31 July 2011, KCLSU had annual commitments under non-cancellable operating leases as details below Photocopier Gym Equipment Total

31 July 2011 1,308 34,024 35,332

31 July 2010 4,572 33,313 37,885

The amount paid during the year in respect of operation lease for the equipments was 35,332

35

Notes to the Accounts

19. Pension Agreements
KCLSU participates in the Students Union Superannuation Scheme, which is a defined benefit scheme whose membership consists of employees of students unions and related bodies throughout the country. Benefits in respect of service up to 30 September 2003 are accrued on a final salary basis, with benefits in respect of service from 1 October 2003 accruing on a Career Average Revalued Earnings (CARE) basis.

Kings College London Students Union Notes to the Financial Statments for the year ended 31 July 2011

The contribution rate (excluding deficit contributions) for the year ended 31 July 2011 applicable to KCLSU for the majority of members is 7.5% of Earnings for members and 10.05% of Earnings for KCLSU (17.3%/17.55% in aggregate). The total contributions paid into the scheme by KCLSU in respect of eligible employees for the year ended 31 July 2011 amounted to 55,715 (2010 - 53,577), including funding deficit contributions. With effect from 30 September 2011 the SUSS scheme closed to future accrual and KCLSU no longer contributes to it. Deficit payments however continue to be paid towards the agreed recovery plan. From 1 August 2011 the Union introduced a new defined contribution scheme, the KCLSU Group Personal Pension Plan. This is administered by Foster Denovo, independent financial advisers, and provided by Aviva plc. The employee contribution rates for this range from 3% of salary upward and KCLSU matches this from 3% to a maximum of 6% of salary.

The most recent valuation of the scheme was carried out as at 1 October 2007 and showed that the market value of the schemes assets was 56,318,000 with these assets representing 69% of the value of benefits that had accrued to members after allowing for expected future increases in earnings. The deficit on an ongoing funding basis amounted to 24,901,000. The assumptions which have the most significant effect upon the results of the valuation are those relating to the rate of return on investments and the rates of increase in salaries and pensions. The following assumptions applied at 1 October 2007: The investment return would be 7.3% per annum before retirement and 5.3% per annum after retirement Salaries would increase at 5.2% per annum, equivalent to 2.0% per annum above inflation. Pensions accruing on the CARE basis would revalue at 3.2% per annum. Present and future pensions would increase at rates specified by scheme rules with appropriate assumptions where these are dependent on inflation.

20. Related Party Transactions

The Students Union is constituted under the Kings College London Charter and its own Constitution. Kings College London provides a range of support services to the Union and in addition provides grants and loan facilities. Trustees were reimbursed for expenses incurred in the course of their duties to the value of 430 (2010: 369).

The 2007 valuation recommended a contribution requirement expressed in two parts: a rate of 17.3% of Earnings (with higher rates in certain circumstances) paying for future accrual, with additional monthly contributions expressed in monetary terms intended to clear the ongoing funding deficit over a period of 15 years. These rates applied with effect from 1 October 2008 and will be formally reviewed following completion of the next valuation due with an effective date of 1 October 2010. Surpluses or deficits which arise at future valuations will also impact on KCLSUs future contribution commitment. In addition to the above contributions, KCLSU also pays its share of the schemes levy to the Pension Protection Fund.

21. Taxation
The Union was an exempt charity until 5 July 2010 when its application for registration as an independent charity was accepted by the Charity Commission. As such it is entitled to the exemptions from tax available to charities. Trustees were reimbursed for expenses incurred in the course of their duties to the value of 430 (2010: 369).

36

Notes to the Accounts

NET CASH INFLOW FROM OPERATING ACTIVITIES Deficit for the year Depreciation Charges Interest Receivable Bank Charges Payable Decrease in Stock Decrease in Debtors Increase in Creditors

Kings College London Students Union Notes to the Financial Statments for the year ended 31 July 2011

22(a). Reconciliation of Deficit for the year to 2012

(317,121) 428,513 (28,617) 31,329 16,094 21,925 206,029 358,152

22(a).
Cash at Bank and in Hand

at 31 July 2010 1,555,542 1,555,542

Cash Flows 315,956 315,956

at 31 July 2011 1,871,498 1,871,498

23. Directors Emoluments

Four directors of the Company received payment for their services as Sabbatical Officers of the Union totalling 95,560 for the year ended 31 July 2011 (2010: 86,831).

24. Prior Year Adjustment

Capital grants received from the College to fund building works were previously treated as deferred income and amortised to match the depreciation. From this year capital grants are accounted for in full in the Statement of Financial Activities and treated as a restricted fund against which the relevant proportion of depreciation will be charged, (see accounting policy note 1(f )). This change in policy has given rise to a prior year adjustment and the comparatives have been amended accordingly. The effect on the opening reserves is to increase restricted reserves and reduced deferred income by 235,621. Where appropriate, comparatives have been adjusted so that they are consistent with the current years presentation. Subject to the prior year adjustment, referred to above, which increased the deficit by 69,405, there were no other adjustments to the reported result for 2010.

37

Appendix 1.

KCLSU had the following Student Activity Groups and Sports Clubs during the year ended 31 July 2011

Abacus Society Action Palestine Society Advertising Society African and Caribbean Society Ahlul Bayt Society Amnesty (Campaign) Society Anaesthetics Society Anatomical Society Anthropology Society Arabic Society Art Society Asian Society Austrian Society Balkan Society Bangladesh Society Biomedical Society Breakin KCL Society Breast Cancer Campaign Society Buddhist Society Cardiology Society Catholic Society Chess Society Chinese Society Christian Union Society Classics Society Clinical Practice Society Clio Society Concert Band Society Conservative Society Creative Writing Society Criminology Society Cypriot Society Dance Society Dead Parrot Society Debating Society Dermatology Society Dining Society

Diogenes ( English) Society Disability Awareness Society Diwali Show Society EMDP Society Emergency MedicineSociety Engineers without borders Society Entrepreneurial and Investment Society Environmental and Wildlife Society Erasmus Society European Society Film Society Francophone & Francophile Society Free Burma Society G & S Society Geek Society General Practice Society Genetics Society Geography Society German Society Global Health & Education Society Gospel Mentoring Society Gospel Music Society Graduate and Mature Students Society Hellenic Society Hindu Society Hispanic Society Home Students Society HOMED Society HOPI Society IMC Society India Society Indie Society Integrative Medicine (Apollo) Society Interfaith Network Society International Affairs Society International Post-Graduate Law Society Iranian Persian Society

Iraqi Society Irish Society Islamic Society Italian Society Jain Society Japanese Society Jazz Society Jewish Society Karaoke Society Keen Society Kings Green Fingers Society Kings Parents Society Kings Players Society KOP Society Korean Society Krishna Consciousness Society Labour Society Language Society Latin America Society Law Mentoring Society LGBT Society LINKS Society London Living Wage Society Malaysian and Singaporean Society Marrow Society Mauritian Society Maxwell Society Mdecins Sans Frontires Society Medical Research & Journals Society Medicinema SMART Society Medsin Society Medical Society (MedSoc) Mildmay Society Model United Nations Society MORE Society MTO Sufi Society

38

Musical Theatre Society Neurology Society Neuroscience Society No cuts at Kings Society Nursing Society Open Mic Society Opthamology Society Oral and Maxillofacial Society Paediatrics Society Pakistan Society Pathology Society Pharmacy Society Pharmaware Society Philosophy Society Photo Society Physio Society Polish Society Portuguese & Brazilian Society Project Zimbabwe Society Quiz Society Radiology Society RAG Society READ Book Project Society Reading Capital Society Robosoc Society Russian Society Sai Society Saving London Lives Society Sexpression Society Sexual Politics Society Sikh Society Smile Society Socialist Student Society Socialist Worker Student Society Sri Lankan Society STAR Society Stop Aids Society

Stop The War Society Streetlaw Society Surgical Society Taiwanese Society Tamil Society Tenteleni Society Thai Society The Pod Society Turkish Society Unicef Society USA Society War Studies Society Wilderness Medicine Society Wildlife Conservation Society Womens Acapella Singing Society Womens Health Society Womens Institute Society Yelp Society ____________________________________ American Football Club Archery Club Athletics & Cross Country Club Baseball Club Basketball (Mens) Club Basketball (Womens) Club Boat Club Boxing Club Capoeira Club Cheerleading Club Chinese Boxing Club Climbing/Mountaineering Club Darts Club Fencing Club FITE Club Golf Club Jiu Jitsu Club

Karate Club KCL Badminton Club KCL M Cricket Club KCL W Cricket Club KCL M Football Club KCL W Football Club KCL M Hockey Club KCL W Hockey Club KCL Netball Club KCL M Rugby Club KCL W Rugby Club KCLMS M Cricket Club KCLMS M Football Club KCLMS W Football Club KCLMS M Hockey Club KCLMS W Hockey Club KCLMS Netball Club KCLMS M Rugby Club KCLMS W Rugby Club Kung Fu Club Lacrosse Club Motorsport Club Muay Thai Kickboxing Club Rifle Club Skydiving Club Snooker & Pool Club Squash Club Swimming & Waterpolo Club Table Tennis Club Taekwondo Club Tennis Club Ten Pin Bowling Club Triathlon Club Ultimate Frisbee Club Volleyball Club Wing Chun Club Yoga Club

39

Legal and Administrative Information

Financial Statements
__________________________________________________ The financial statements comply with the Charity Commissions Statement of Recommended Practice 2005 (Charity SORP 2005), the Companies Act (2006), and the Education Act (1994).

Charity Objects

__________________________________________________ The Charitys objects are to advance the education of students at Kings College London for the public benefit in particular by providing sporting, social, cultural and recreational opportunities, advancing welfare and physical and mental wellbeing of students, providing representation, advice and assistance to students and promoting contact and co-operation between students. __________________________________________________ Macadam Building, Surrey Street, London WC2R 2NS

Charity Status

__________________________________________________ Kings College London Students Union is a registered charity number 1136729 and a company limited by guarantee, number 5762196. Kings College London Students Union is governed by its Articles of Association. Kings College London Students Union operates as KCLSU. KCLSU Ltd, a wholly owned subsidiary of KCLSU, was incorporated on 12 August 2009. The accounts of the subsidiary are consolidated within the annual accounts for the Union.

Registered Office

Board of Trustees

_______________________________________________________________________________________________________ The Boards role is to set KCLSUs strategic direction, monitor the delivery of its charitable objectives, uphold its values and governance; guide, advise and support the Student Officers and the Chief Executive. The Trustees who served during the year are listed below, with incoming trustees whose term of office commenced on 1 August 2011. Trustees also aim to serve on Sub-Committees of the Board which cover Finance, Audit, Human Resources and Governance and Policy respectively. The Board and each Board Committee are led by a Chair. Chair of the Board of Trustees Ryan Wain (Hannah Barlow from 1 August 2011) Term Started 1/08/2010 1/08/2010 1/08/2011 1/03/2007 1/08/2011 1/08/2011 8/02/2011 1/08/2010 1/03/2006 1/08/2011 1/03/2006 1/08/2009 25/06/2010 1/08/2011 1/08/2009 1/03/2006 1/08/2009 1/08/2011 1/08/2009 Term Ended 31/07/2011 Sub-Committee Finance, Audit

Oliver Adebayo Kia Alam Fazley Ahmed Matt Atkinson Fran Allfrey Hannah Barlow Seb Elsworth Andrew Feneley Mike Hansen Alireza Nejad Steven Rhodes Rebecca Samuels Linda Sjoblom Simi Smith Emilie Tapping Amanda Thompson Ryan Wain Holly Walsh Natasha Wynarczyk

Governance and Policy Human Resources, Governance Human Resources, (Chair) Finance, Audit Finance, Audit (Chair) Governance and Policy Governance and Policy (Chair) 31/07/2011 31/07/2011 Human Resources 31/07/2011 30/11/2010 31/07/2011 31/07/2011 Human Resources Finance, Audit

40

Legal and Administrative Information

Senior Management Team
__________________________________________________ The role of Senior Management Team is to realise and implement KCLSUs vision, mission and strategy; monitor the delivery of its operational objectives; uphold its values whilst developing the organisation and guide, advise and support the full and part time staff. The Senior Management Team is led by the Chief Executive. The Chief Executive and the members of the Senior Management Team who served during the year to 31 July 2011 were: Chief Executive Imogen Wiltshire Senior Management Laura Hyde Director of Services until 4 January 2011 Jo Rogers Director of Operations Olliver Southgate Director of Finance and Administration / Company Secretary Jennifer Finn Head of Marketing and Communications Emily Ewins Head of Human Resources

Principal Places of Business ______________________________________________

KCLSU at Strand Campus / Registered Office Macadam Building Surrey Street London WC2R 2NS KCLSU at Guys Campus Boland House St Thomas Street London SE1 1UL KCLSU at Waterloo Campus Stamford Street Buildings Cornwall Road London SE1 9NH

Professional Advisers ______________________________________________

Auditors Knox Cropper 8/9 Well Court London EC4M 9DN Bankers NatWest Bank (RBS) 65 Aldwych London WC2B 4DS Legal Advisers Bates, Wells and Braithwaite LLP 2-6 Cannon Street London EC4M 6YH TLT Solicitors 20 Gresham Street London EC2V 7JE

Student Officers

__________________________________________________ The role of the Student Officers is to represent students at Kings College London and to influence change within KCLSU, at Kings College London and externally via the National Union of Students. The Student Officers, who are also Trustees, are elected by the students of Kings College London and are led by the President. The Student Officer team who served during the year 2010/11 were as follows: President Ryan Wain Vice President Academic Affairs Emilie Tapping Vice President Student Activities and Facilities Kia Alam Vice President Student Media and Engagement Natasha Wynarczyk

41

42

Legal and Administrative Information

Networks and affiliations
__________________________________________________ During the year KCLSU was affiliated to or joined the following bodies at the following costs: ACCA (Association of Chartered Certified Accountants): 189.00 ACEVO (Association of Chief Executives of Voluntary Organisations): 1,147.50 Advice UK: 270.00 Amateur Football Alliance: 733.00 BUCS (British Universities and Colleges Sports): 6,433.71 CFDG (Charity Finance Directors Group): 290.00 Charity Comms: 180.00 CSV (Community Service Volunteers): Free London Society of Rugby Football Union Referees: 141.00 National Council for Volunteering Organisations (NCVO): 450.00 NUS (National Union of Students): 49,073 .00 The Jitsu Association (London): 300.00 Volunteering England: Free

KCLSU

__________________________________________________
WEB kclsu.org PHONE 020 7848 1588 EMAIL enquiries@kclsu.org

Follow us on twitter @kclsu This publication is available in alternative formats on request. Please email marketing@kclsu.org Kings College London Students Union trading as KCLSU Registered in England and Wales, as a company limited by guarantee CRN5762196 Registered office: Macadam Building, Surrey Street, London WC2R 2NS KCLSU is a registered charity number 1136729

43

WEB kclsu.org PHONE 020 7848 1588 EMAIL enquiries@kclsu.org

Follow us on twitter @kclsu This publication is available in alternative formats on request. Please email marketing@kclsu.org
Kings College London Students Union trading as KCLSU Registered in England and Wales, as a company limited by guarantee CRN5762196 Registered office: Macadam Building, Surrey Street, London WC2R 2NS KCLSU is a registered charity number 1136729