Dundee University Students Association
Latest income
£4.9m
Latest spending
£5.6m
Accounts read
FY2023
Financial health, per FY2023 accounts
The accounts state that the charity reported a deficit of £673,039 for the year ended 31 July 2023, driven by a £459,340 impairment of fixed assets due to RAAC issues in its building. Per the trustees' report, unrestricted reserves of £450,665 are below the stated policy target of six months of costs, and the charity relies on additional funding from the University of Dundee to mitigate financial losses.
What the accounts disclose
Reserves position: below the charity's own stated policy
“The balance held as unrestricted funds at 31 July 2023 was £450,665. Actual six-month operating costs of charitable activities totalled £1.7 m. The current level of reserves is therefore lower than is needed on a revenue basis” — page 10
Per FY2023 accounts as filed with OSCR.
Going concern: doubt noted
“The trustees are aware of certain material uncertainties which may cause doubt on the charity's ability to continue as a going concern. Since April 2023 a significant portion of the building has been inaccessible due to the RAAC issues identified in the roof space, leading to a substantial decrease in revenue and increase in financial losses.”
Per FY2023 accounts as filed with OSCR.