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← Newcastle University Students' Union

2025-07-28-accounts

Charity no. 1138091 Company no. 06978707

NEWCASTLE UNIVERSITY STUDENTS’ UNION

(A COMPANY LIMITED BY GUARANTEE)

ANNUAL REPORT AND CONSOLIDATED FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 27 JULY 2025

NEWCASTLE UNIVERSITY STUDENTS’ UNION

ANNUAL REPORT AND CONSOLIDATED FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 27 JULY 2025

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Contents Page
Legal and administrative information 1-2
Trustees’ report 3-19
Statement ofTrustees’ responsibilities 20
Independent auditor's report 21-24
Consolidated statement of financial activities 25
Consolidated balance sheet 26
Charity balance sheet 27
Consolidated statement of cash flows 28
Notestotheconsolidatedfinancialstatements 29—46

NEWCASTLE UNIVERSITY STUDENTS’ UNION

LEGAL AND ADMINISTRATIVE INFORMATION

FOR THE PERIOD ENDED 27 JULY 2025

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The Trustees of the Newcastle University Students’ Union have all served in office throughout the year and to the date of this report except where indicated.

Trustees / Full Time Elected to hold Office Sabbatical Officers To 20 June 2025 President Leo David Academic Officer Jasmine Natasha Binti Firdaus Peter Banks Opportunities Officer Swati Subramaniam Student Media Officer Lucy Bower Postgraduate Officer Linming Sun Wellbeing & Communities Officer Hisham Salamathullah Sports Officer Alexandra Sheehan Duggan

From 16 June 2025 llsa Hartley Georgina Tindale James Thomas Geary (from 20 June 2025) Libby Jane Griffiths Post removed Lily Hannah Allan Alexandra Sheehan Duggan (re-elected to serve 2nd term)

External Trustees

Adrian Alexander Drewett (resigned 1 July 2025) David Donald Miller

Sarah Louise Winship

lan Jeremy Kitchen (resigned 1 July 2025)

Fridey Helen Cordingley Naomi Fatma Mushtaq Oosman-Watts (appointed 1 September 2025) Christopher William Duddy (appointed 1 September 2025)

Company number 06978707 Registered Charity number 1138091 Registered & Principal Office Newcastle University Students’ Union The University of Newcastle King's Walk Newcastle upon Tyne NE1 8QB Auditors Armstrong Watson Audit Limited First Floor

One Strawberry Lane Newcastle upon Tyne NE1 4BX

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NEWCASTLE UNIVERSITY STUDENTS’ UNION

LEGAL AND ADMINISTRATIVE INFORMATION (CONTINUED)

FOR THE PERIOD ENDED 27 JULY 2025

Bankers Lloyds Bank Monument Mall 15-21 Northumberland Street Newcastle upon Tyne NE1 7AE NatWest Bank Plc 16 Northumberland Street Newcastle upon Tyne NE1 7EL Solicitors Muckle LLP Time Central 32 Gallowgate Newcastle upon Tyne NE1 4BF

Newcastle University Students’ Union employs a Chief Executive Officer to work closely with the Trustees and ensure effective management of the organisation by leading a senior management team. During the year the senior managers were:

Chief Executive Officer and Company Secretary

Deputy Chief Executive - Commercial and Operations Deputy Chief Executive - Engagement and Communications Director of Finance and Risk

Director of Membership Services (to 31 March 2025)

Lindsey Lockey Graham Hattam Ann Cooper Tony Siney George Watkins

Subsidiary Company

NUSU Trading Ltd is a wholly owned subsidiary undertaking. Company registered number: 12113080

Directors

L Lockey

G Haittam

| Kitchen (resigned 1 July 2025)

| Hartley (appointed 16 June 2025)

L David (resigned 20 June 2025)

C Duddy (appointed 22 September 2025)

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NEWCASTLE UNIVERSITY STUDENTS’ UNION

TRUSTEES’ REPORT (incorporating the Strategic Report)

FOR THE PERIOD ENDED 27 JULY 2025

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Financial Statements

The Trustees present their report and financial statements for the period ended 27 July 2025.

Trustees

The Trustees who served during the year are disclosed on page 1.

Objectives and Activities

Newcastle University Students’ Union has identified its objects as the furtherance and the enhancement of the educational purposes of Newcastle University including but not limited to:

4. SUMMARY OF 2024-2025

The year, 2024-2025, has been one of change and reflection for the team of Officers and staff. Increasing costs due to inflation and external factors, coupled with declining income in some areas, resulted in NUSU having to reanalyse our finances to reduce our outgoings. Despite the disruption to our staff team, as we went through a period of review and restructure, it should be celebrated how much we have achieved, with the vast majority of our targets met and engagement levels remaining very high. In our annual survey, 98% of students rated the student's union as satisfactory or above with the excellent rating rising from 28% to 35%. Engagement levels across all areas continued to increase with notable success continuing in our Give It A Go programme, clubs, societies and volunteering. Voting in the Student Elections exceeded our target, a new format resulted in an increase in candidate numbers and overall, it simplified the process for both candidates and voters. We are now SOS accredited showing that we are leading the way in harm prevention from alcohol and drug use.

Our sports teams have continued to enjoy much success and again achieved a top ten finish in BUCS, as well as securing a fourth Varsity win against Northumbria University. For clubs and societies our team have expanded committee training and by developing new partnerships with local charities and organisations we're able to provide our volunteers with confidence and skills on many subjects including race equality and safeguarding. The Opportunities team have continued to engage students in projects in the community and recently secured additional funding to extend our N.E.S.T. project to more schools in the region.

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  1. STRATEGIC DIRECTION

NEWCASTLE UNIVERSITY STUDENTS’ UNION

TRUSTEES’ REPORT (incorporating the Strategic Report)

FOR THE PERIOD ENDED 27 JULY 2025

In the summer term we celebrated our Centenary year with an exhibition which explored the Unions 100-year history, from the gifting of our striking building in 1925, to the many achievements of our students in more recent years.

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Our Officers listened to students, worked with colleagues and volunteers to represent your needs at the University and within the Students’ Union. Working on our Action Priorities of improving the academic experience, tackling stigma and confronting the cost of living, their achievements include gathering feedback on students’ needs when writing their dissertation to inform the University on how better to support students; developing disability awareness training for university staff with pilot sessions held and working with the University to revamp the £1 meal deal scheme.

2024-25 SNAPSHOT

98% rated NUSU as satisfactory or above 91% would recommend us to another student 97% agreed that NUSU is an inclusive organisation 90% agree that we contribute positively to their Uni experience 87% agreed we campaign effectively on their behalf 98% rated our approach to welfare, support and advice as satisfactory or above 97% are satisfied with the range of opportunities offered 81% are satisfied with the opportunities to develop skills 97% are happy with our communications 87% of students agreeing that our approach to campaigning is effective 85% of students felt the Student Rep system is effective 8" in BUCS league 24,074 Club and Society Memberships purchased 2,027 student volunteers 774 NCL+ & Advanced Awards issued

OUR AMBITION

To have a positive impact on the experience of every student at Newcastle University

OUR PURPOSE

Our purpose is to represent, support, develop and enhance the lives and experiences of Newcastle University students. To deliver our purpose we have identified 4 strategic priorities moving forward:

Based on what students told us mattered to them. and what aspects of the student experience they would like to see improved in 2024-2025, we identified three priorities for the year where we wouid be taking action. These action priorities were Cost of Living, Challenging Stigmas and Improving the Academic Experience. Work under each action included:

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NEWCASTLE UNIVERSITY STUDENTS’ UNION

TRUSTEES’ REPORT (incorporating the Strategic Report)

FOR THE PERIOD ENDED 27 JULY 2025

Improving the Academic Experience

We focused on supporting students through assessment improvements, reducing costs, and building a stronger sense of academic community. We influenced changes to the academic calendar to ease pressure during the resit period and allow more time for feedback. To better understand the needs of dissertation writers, we gathered 340 student responses and presented key findings to university staff in June. In response to concerns about the cost of studies and financial challenges, we continued to hold the University to account on its commitment to protect field trips and student job opportunities. To support postgraduate students, we hosted a PG Future Pathways event in partnership with the Careers Service.

Challenging Stigmas

We worked to break down barriers around consent, drugs and alcohol, racial inequality, and disability inclusion. This year, we hosted BYOB - Bring Your Own Boundaries, a flagship event focused on sex, consent, and healthy relationships, featuring input from societies, charities, and external organisations. We also led the University’s accreditation as a Harm Reduction institution through SOS-UK, supported by Drugs & Alcohol Awareness Week Work to address racial stigma culminated in a new report, Decolonising NUSU, based on student focus groups. In collaboration with student societies, we also launched an Accessibility Guide for clubs and ran Disability Awareness Week, while piloting new disability awareness training for university staff in partnership with Student Health and Wellbeing.

Cost of Living

We prioritised campaigning for better financial support, improving access to food and housing, and reducing barriers to extracurricular involvement. We lobbied for funding reform through meetings with local MPs and national sector bodies, supported by the findings of our 2024 Cost of Living Survey. In partnership with the University, we replaced the £1 meal deal with a £50 food fob scheme for students most in need and relaunched Pick-Up Pasta across key campus locations. We also enhanced the Student Pantry by recruiting a dedicated intern. Our work on decent housing included support for the No More Guarantors campaign and the development of our Rate Your Landlord review site. To make student life more accessible, we supported over 500 UK undergraduates through the Activities Access Fund and secured new long-term funding to expand the scheme to postgraduates and international students.

STUDENT REPRESENTATION

This year, we worked with and supported nearly 1,000 Student Reps across all schools and campuses, and over 100 individual Student-Staff Committees to ensure that students across the University have their voice heard and their feedback acted upon. Some examples of the changes that reps have made this year have included: School of Natural and Environmental Sciences (PGR) School Reps led on a PGR mentoring programme SELLL School Rep worked with our Education Officer on a review of the Recap policy, with amendments agreed with the University

Student reps have also been out and about promoting themselves to students, attending University meetings and feeding back to students they difference they have made as a collective and it was wonderful to be able to recognise them at the annual Student Rep Awards back in May. With all this hard work, it was great to see that over 85% of students felt the Student Rep system is effective, a significant increase on the previous year. We also secured funding to complete a review of Student Representation in 2025-2026 so that we can make changes to the policy and procedures in time for the start of the 2026-2027 academic year.

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NEWCASTLE UNIVERSITY STUDENTS’ UNION

TRUSTEES’ REPORT (incorporating the Strategic Report)

FOR THE PERIOD ENDED 27 JULY 2025

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STUDENT COUNCIL

Student Council is our key forum that allows students to steer the Students’ Union, hold the Officer team to account and debate the issues that matter to them. Any student can submit a motion, and all appropriate motions can be debated at Student Council, to which every student is eligible to attend. Some examples of motions that have been passed this last year include:

Safeguard Peaceful Protest Rights on Campus

Allowing Sabbatical Officers to run for a second term Lobbying Newcastle MPs around the student cost of living and higher education funding Creation of "Stage 1 Engagement Representative” role 0% Plant-Based in line with Net Zero targets Review of Representation Underrepresented Student Groups

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STUDENT ELECTIONS

This year, we saw increased engagement with our Student Elections, our annual event where all students can cast their vote on who should be the new Officer Team. We received an incredible 4,774 votes for 52 brilliant candidates running for 16 available positions.

Over the four weeks, the candidates attended training, produced promotional materials, took part in the candidate rally and campaigned during voting week to secure the most votes. The results were then announced at the Results night event to a feverish audience.

THE EDUCATION AWARDS

We were delighted to organise and host The Education Awards 2025. On the night, we announced 10 winners and celebrated the 33 staff who were shortlisted at a glitzy awards ceremony, hosted by our Education Officer, Jasmine Banks. These amazing staff were recognised from the incredible 560 nominations we received from students across the University community including the global campuses, and shortlisted by our Student Reps.

b. SUPPORTING & ADVISING OUR STUDENTS

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The NUSU Support and Advice Hub offers a welcoming, non-judgemental space where students can access support and advice in key areas such as academic advice, housing advice, food insecurity, harm reduction around drugs and alcohol, safety and spiking information, sexual health resources and wellbeing support. Students have warmed to our approach of supporting students with:

98% of students satisfied with NUSU's approach to wellbeing, support and advice. 94% agreed that NUSU initiatives help promote positive mental health and wellbeing. 87% feeling that the received help & support when they needed it

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TRUSTEES’ REPORT (incorporating the Strategic Report)

NEWCASTLE UNIVERSITY STUDENTS’ UNION

FOR THE PERIOD ENDED 27 JULY 2025

Wellbeing Support

Through the Support & Advice Hub students can drop by for welcoming and accessible wellbeing support. This year, over 600 students did just that, receiving a listening ear and signposting to further help when needed. The Hub has also provided thousands of free wellbeing and safety resources, helping students manage health, cost-of-living pressures and their own personal safety. During 2024-2025, students picked up around 18,000 condoms and lube, 900 pregnancy tests, and over 8,000 period products. Other available items included drug testing kits, personal alarms, stationery, lanyards, and sensory toys.

We expanded our harm reduction work through the SOS-UK Drug and Alcohol Impact Programme, achieving national accreditation in partnership with the University. The Hub also maintained our Sexual Health Drop-In and Student Pantry, with the latter now supported by a dedicated intern.

Through day-to-day support and strategic partnerships, the Hub plays a vital role in reducing stigma and ensuring students can access the help they need, when they need it.

Advice Team

Between August 2024 and June 2025, the NUSU advice team supported 374 students through complex and varied student issues, with regards to housing, academic issues they may be facing while studying at University: Academic (175 cases, 39.95%) — covering academic appeals, PECs, and progression concerns. Housing (159 cases, 36.3%) — reflecting the ongoing challenges students face in the rental sector, including disputes, safety, and affordability.

Student Finance (39 cases, 8.9%) — covering hardship funding, tuition fee concerns, and budgeting support. In addition, 521 appointments were successfully taken, with 63% of appointments delivered online, enhancing flexibility and reach to meet student demand. Website analytics further reinforce the demand from students for advice with over 26,000 visits, with housing and academic content being the most accessed webpages.

Spotlight on: Rate Your Landlord

This year we have had a huge focus on asking students to submit reviews of their student housing for the Rate Your Landlord platform. This impartial review platform, managed by housing charity Unipol and supported by both Newcastle & Northumbria SUs and Universities, provides an open, fair and balanced forum for tenants to have their say, for landlords to respond and for students to learn more about the properties they could be renting. Following months of promotion, including giveaways, pop-up stall and social media promotion, we were delighted that we received enough reviews from Newcastle University students alone to meet the joint review target and to launch the platform in 2025-2026.

c. UNLOCKING STUDENT POTENTIAL

Go Volunteer

2,027 students participated in the Go Volunteer programme this year, gaining essential employability skills and enriching their resumes. 1,233 took part in projects co-ordinated and run by the Students’ Union and 278 charitable and not-for-profit organisations offered volunteering opportunities which generated 1,136 student referrals.

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NEWCASTLE UNIVERSITY STUDENTS’ UNION

TRUSTEES’ REPORT (incorporating the Strategic Report)

FOR THE PERIOD ENDED 27 JULY 2025

Project Spotlights

StuBrew is a pioneering student-run sustainable microbrewery, where passion for great beer meets ecoconscious innovation. Run by the Student Brewing Society with full backing from the Students’ Union, the team partners with the School of Chemical Engineering to explore greener brewing practices. From creating bold new beers to handling sales, events, and even designing funky labels, students oversee it all—gaining real-world experience in leadership, marketing, business, and sustainability.

Over 40 students helped brew more than 10,000 litres this year alone! Fan-favourite IPAs like Steady State, Loan Drop, Cow in a Lift, and Post Exam Clarity are available from our very own Luther’s Bar, ensuring the beer is easily accessible to the wider university community in a popular and affordable social setting. They have also secured product ranges in top local spots like Five Swans and the Microbus.

Stu Brew just turned 10 and celebrated in style with five epic Brewery Bashes. These campus parties run by and for students featured amazing food from Jam Jar Jesmond, Great North Pizza, and Fat Panda Bing, plus live music from the Jazz Orchestra, Newcastle Student Radio, and DJs. Brewery Bashes will continue next academic year and check out the NUSU website at the start of term for details.

SciFair offers local secondary school students the opportunity to participate in science experiments, workshops, campus tours and design and present their own science projects in a university-led competition. The event is designed to increase awareness of Higher Education and raise aspirations of North East students who may have fewer opportunities to access University.

This year the SciFair saw record engagement, with 102 school students signing up and 90 completing the full programme, the highest participation in the project's four-year history. The event also welcomed the most ever, 35, competition project submissions from 5 schools. 34 locai schools were invited to apply, the widest outreach to date.

The impact on Newcastle University Student Volunteers has been equally meaningful. Over 20 students contributed to SciFair over a 9-month period, earning hours toward the NCL+ Award, Career Service Final Year Module, and Volunteer Certificates. Following the success of SciFair25, the 2026 committee is now the largest in the project’s history, with many volunteers returning to support the initiative.

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N.E.S.T Schools is a three-year, £140,000 Newcastle City Council-funded project focused on supporting refugee and asylum-seeking students in local schools. The programme aims to promote integration, improve reading comprehension, encourage friendships, and help students feel safe and welcomed in the school environment. This is delivered through a 12-week reciprocal reading intervention programme conducted in small groups. This year 90 university students from a variety of courses volunteered one afternoon per week to deliver the programme across 10 local schools. Over 250 school pupils engaged with more than two-thirds making between three months and two years of reading progress, and at least cight pupils improving by three to four years. Feedback from both teachers and university volunteers highlights the project's powerful impact. School staff noted that, The volunteers have a warm and calm approach, creating a nurturing environment where they are not just reading stories, but building confidence, connection and hope.

University students shared similarly heartfelt reflections. saying, Volunteering with N.E.S.T allows you to meet wonderful, like-minded people while gaining valuable teaching experience. It makes you feel part of something bigger than your degree, as it !s incredibly fulfilling to work with refugee pupils and see the difference you make on an individual and group basis.

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TRUSTEES’ REPORT (incorporating the Strategic Report)

NEWCASTLE UNIVERSITY STUDENTS’ UNION

FOR THE PERIOD ENDED 27 JULY 2025

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EMPLOYABLITY & SKILLS DEVELOPMENT

The Students’ Union continued to manage the NCL+ Award programme this year, helping students to identify and communicate the skills they have developed as part of extra-curricular activities to future employers. A comprehensive recruitment campaign generated 1,308 expressions of interest, a year-on-year increase of 360 students. 682 students submitted work, a 53% conversion rate and 639 passed the award. 135 students passed one of the four NCL+ Advanced Awards in Leadership, Business Basics, Career Preparation and Campaigning for Social Change.

70 of our students who had completed volunteer work with Clubs, Societies, N.E.S.T., Intermural or external organisations used their experience to also complete the University's Career Development Module programme.

COMMUNITY IMPACT AWARDS

Award season at the Students’ Union is a wonderful and special time. Students who have gone the extra mile and achieved so much for themselves, their teammates and community are celebrated and honoured.

A record breaking 1,670 students were nominated for an award this year and the programme consisted of 7 glittering award ceremonies hosted at the Student Union, with the best of the best being celebrated at the Newcastle University Awards’ held in the Frederick Douglas Building auditorium in June.

d. CREATING STUDENT COMMUNITIES & NETWORKS

This year there was an increase in engagement with the Give It A Go social event programme engagement this year with a total of 328 activities delivered. Attendance at these events has also grown, with 4,125 students participating in activities.

The first term was particularly strong, with 172 activities and 2,358 attendees, setting a positive tone for the rest of the year. Term two maintained momentum with 125 activities and 1,530 tracked attendees, while term three, though quieter, still saw 31 activities and 157 attendees. Notably, there was a substantial increase in society collaborations, with 58 activities delivered in partnership with student societies. Term two stood out in this regard, with 42 society-led or partnered events, highlighting the benefit of the programme to Student Societies.

Postgraduate funding

Following a successful bid from the University Disbursement Fund from the previous Postgraduate Officer funds were allocated to a dedicated Postgraduate Give It A Go programme. The events were designed to foster community, reduce isolation, and provide relaxed opportunities for postgraduates to connect with peers outside of academic settings. They were scheduled around postgraduates schedules and were free or low cost.

Over the course of 2 terms, we delivered 15 events with a total participation of 248 postgraduate students. These events included a mix of social and wellbeing-focused activities such as PGR Pizza Speed Friending, Breakfast Befriending sessions, a Welfare Walk & Picnic, a visit to the Dog and Scone café, and a National Trust Walk at Gibside.

75% of Post Grad participants rated their experience 5/5 79% gave the Activities Assistants delivery of the event a 5/5.

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NEWCASTLE UNIVERSITY STUDENTS’ UNION

TRUSTEES’ REPORT (incorporating the Strategic Report)

FOR THE PERIOD ENDED 27 JULY 2025

CLUBS & SOCIETIES

24,074 Club & Society Memberships

12 new Clubs & Societies were launched successfully this year including Coffee Soc, Social Lacrosse and Women's Football, Urology, Game Dev Soc and Greggs Soc.

Sports Clubs

64 Ratified Clubs 4,820 Club Members £127,000 grants given to AU Clubs

Club Community Impact Spotlights:

Newcastle University Running Club Society is an incredibly welcoming and inclusive society that supports runners of all levels. From a successful Couch to 5K programme to members achieving personal bests at all distances, NURC offers something for everyone. With multiple weekly runs, a strong social scene, and collaborative charity events, the club fosters a supportive, friendly community. Some highlights included a Peak District trip, joint socials with other societies, and consistent encouragement from the dedicated committee.

Newcastle University Ladies Hockey Club has demonstrated an exceptional commitment to both sport and community impact. Members volunteer weekly with N.E.S.T, coaching refugees, and have raised over £1,000 for Breast Cancer Now through their annual social. The club actively supports Newcastle Carers, raising funds through events such as bake sales and the Luni Dunk. Partnering with NCL Marrow, they helped register 40 new stem cell donors this year. Most recently, they launched a charity tournament supporting My Name’5 Doddie Foundation. Their dedication to fundraising, awareness, and inclusivity exemplifies their profound contribution to both sport and the wider community.

BUCS

Team Newcastle’s performance continued to be strong this year, maintaining an impressive 8th place out of more than 160 institutions in the British University & Colleges Sport tournament. Women's Volleyball promoted to the National Super League. Men's and Women’s Rugby competed in BUCS Super Rugby play-offs. Men's Football crowned Premier League Champions. Rowing won the Victor Ludorum at BUCS 4’s and 8's. Cheerleading won 3 national titles, and 1 grand championship title.

Varsity Winners!!!

Our sports clubs stormed home with our 4th consecutive victory against Northumbria University since the Varsity competition was launched itn March 2022. This year the final score was 47.5 to 31.5 points! A fantastic performance!

Campus Leagues

This year we hosted three 5-A-Side football competitive league’s and two 7-A-Side football competitive leagues engaging a total of 290 students. This program is very social and provides an opportunity for those who are unsuccessful in our BUCS teams and Intramural programme to still play the sport they love, with their friends.

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NEWCASTLE UNIVERSITY STUDENTS’ UNION

TRUSTEES’ REPORT (incorporating the Strategic Report)

FOR THE PERIOD ENDED 27 JULY 2025

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Societies

210 Ratified Societies 9,243 Society Members

£22,116 special grants issued

Society Community Impact Spotlights

The Disability, Mental Health and Neurodivergence Society went above and beyond in representing and uplifting marginalised voices on campus this year. Run by disabled students for disabled students, the society created a welcoming and accessible space through the running of low-effort yet enjoyable socials such as coffee mornings and craft events. They expanded representation by adding a Mental Health Rep, Physical Disability Rep and Neurodiversity Rep to their constitution. Their impactful campaign to destigmatise OCD, Bipolar, and Schizophrenia reached students and staff across campus and encouraged students to find community within the society, while fundraising for charity. The British Sign Language Society and Pole and Aerial Club collaborated on Flex Like Nobody's Watching, a flexibility and contortion workshop led by blind circus artist Rachael Storey, aka Blind Fury. They created an inclusive space which brought students of all backgrounds and abilities, including many with disabilities as well as individuals with no prior experience together, and invited them to focus on self-acceptance and celebrating sensory differences. Due to overwhelmingly positive feedback, they are already planning future events together. Newcastle Marrow Society is truly doing groundbreaking work, making a real, live-saving impact. Since September, they recruited 825 potential stem cell donors, raised over £2,500 for the Anthony Nolan charity, and supported urgent patient appeals. They partnered with other clubs and societies to run their collaborative Swabathons, as well as awareness campaigns, especially highlighting the need for ethnic minority donors.

Academic Society Funding Project:

Now in its third year, the scheme has continued to foster community, inclusion, and student engagement through targeted funding for academic societies.

This year, over 2,400 students participated in the 6-week free membership trial, resulting in more than 4,000 memberships and a strong 26% conversion rate to full memberships. The funding enabled 55 academic societies to host a wide range of inclusive events—from pizza nights and pottery painting to academic workshops and yoga sessions—that helped students, particularly those from underrepresented and international backgrounds, feel welcomed and connected.

Survey responses and focus group feedback consistently praised the scheme for helping students form friendships, engage across year groups, and feel more confident in their academic and social environments. Notably, 74% of respondents said the 6-week trial influenced their decision to join a society, and 81% of committee members agreed that the scheme boosted membership numbers. Events were especially impactful for firstgeneration university students and those from low-income or minority backgrounds, who reported feeling more supported and included.

The scheme also strengthened relationships between societies and academic schools, with societies that had strong school ties seeing higher engagement and membership conversion rates. Overall, it has proven to be a vital initiative in enhancing student belonging, supporting academic integration, and building a more inclusive university community.

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NEWCASTLE UNIVERSITY STUDENTS’ UNION

TRUSTEES’ REPORT (incorporating the Strategic Report)

FOR THE PERIOD ENDED 27 JULY 2025

Club & Society Training

All Club and Society student leaders receive a wide range of training at the start of the year, it includes sessions on first aid, hate crime, dangerous behaviours, active bystander and gambling awareness.

This year Student Club & Societies Anti-Racism Training project was launched to equip them with the skills and confidence to address racism and foster inclusive environments within their groups. Funded by a £5,000 grant from the University’s EDI Fund, the project delivered six workshops across the academic year, three introductory sessions in Term 1 and three advanced sessions in Terms 2 and 3. The training was developed in collaboration with Every Future Foundation and primarily targeted Principal Committee members, especially Welfare Officers. The programme saw strong engagement, with 103 committee members from 62 clubs and societies participating. These individuals represented a wide range of leadership roles and collectively impacted over 6,250 students. The sessions covered key topics such as racial equity, microaggressions, allyship, and institutional racism, and included interactive elements like case studies and action planning.

Feedback was largely positive, with participants appreciating the open discussions, safe environment, and thought-provoking content. Many found the training informative and advocated for it to become mandatory. It was a significant step towards embedding inclusive practices in student leadership and laid a strong foundation for future development and demonstrated the value of continued investment in EDI-focused training for student groups.

FRESHERS 2024

The 2024 cohort of new students were welcomed onto campus with a 10-day Freshers programme. Hundreds of free and discounted events were offered on the Students’ Union and across the city. The programme was designed to give students the maximum opportunities to meet others with shared interests and forge new friendships.

Based on the previous years’ student feedback, we moved away from a single purchase wristband and instead offered the flexibility of individual event tickets, allowing students to select a programme that fitted their needs.

In response to requests for more no-alcohol, smaller and experiences the programme included visits to the Cat and Dog cafes, Escape Rooms, Ghost Walks, Paint & Sip, Bubble Tea Making and Craft Sessions, which proved to be incredibly popular with all 2,760 tickets being sold out before the programme begun.

Alongside the ticketed events the large-scale free to attend Fairs also took place with the 2-day Clubs & Societies Fair at the University Sports Centre kicking us off. It was followed by a huge poster, plants sale and the everpopular Freebie Fair. which this year was attended by over 4,500 students.

Live Music & Events

NUSU's commitment to providing a vibrant student experience is demonstrated through its diverse programme of live music and events. Throughout the year, the Students’ Union has hosted an impressive array of concerts. oper mic nights, club events, and cultural celebrations. drawing the interest of thousands of students. Artist performing in the last academic year included, Royei Otis. ARXX and The Roysion Club

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TRUSTEES’ REPORT (incorporating the Strategic Report)

NEWCASTLE UNIVERSITY STUDENTS’ UNION

FOR THE PERIOD ENDED 27 JULY 2025

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Co-op

Now in its 5th year of trading, NUSU's Co-op continues to contribute to the student community at Newcastle University, offering accessible and affordable essential goods throughout the day. While operations have generally been smooth, the recent cyber-attack on the broader Co-op Group in April 2025, has presented huge challenges for the NUSU Co-op and the team. Despite such external pressures, the NUSU Co-op continues its dedication to supporting students and the university community.

Media Sales

In the past year, the Students’ Union has significantly expanded its reach through robust media sales and engaging experiential marketing events. Our media sales initiatives, including digital advertising and promotional space, have generated substantial revenue, directly contributing to the funding of student services and activities. We've set up some great experiential marketing events this year, that has allowed brands such as Lynx, Boux Avenue, Amazon Prime, Byoma and Pringles connect directly with students. These events not only create memorable moments and provide genuine value but also help make the Students’ Union feel more vibrant and dynamic.

Luther’s Bar

The Union's Luther's Bar has proven to be a significant success since opening in September 2023. This collaboration, only the second of its kind for Wetherspoons on a university campus, has been well-received by students, largely due to its value-for-money food and drink offerings, a crucial factor amidst the cost-of-living crisis. Beyond affordability, the partnership has also expanded job opportunities suitable for students and satisfying the overwhelming student demand for affordable and accessible amenities, as evidenced by positive feedback and high footfall, underscores the practical success of this unique partnership. The space and offer has provided and vibrant atmosphere for our societies who are using Luther's for their regular social events and meet ups.

Kings Gate

We're excited to report on our new dual-purpose retail space in the newly redeveloped Kings Gate ground floor. This Innovative Hub, featuring a Costa Express vending machine and a curated selection of university -branded merchandise will launch in the summer of 2025. Students will benefit from convenient and affordable hot drinks, alongside an expanded range of university apparel and gifts, significantly enhancing their daily campus experience. Beyond convenience, this initiative is a vital source of revenue generation for the Students’ Union enabling us to reinvest directly into student services and activities. The space provides valuable employment opportunities for our students while simultaneously increasing brand visibility for both NUSU and Newcastle University across campus and beyond.

SUSTAINABILITY

Whilst the plans to refurbish the building have been delayed, our efforts to enhance the sustainability in our building operations continues, and phase 1 of our planned maintenance programme to reduce our overall energy consumption is in full swing with our LED light switch over. Our gas and electricity consumption has maintained at 2,305 kWh leading to CO2 emissions of 511 tonnes for 2024-2025. By working closely with our franchise partners and waste collection company, for 2024-2025 we have again successfully diverted 100% of our waste from landfill.

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NEWCASTLE UNIVERSITY STUDENTS’ UNION

TRUSTEES’ REPORT (incorporating the Strategic Report)

FOR THE PERIOD ENDED 27 JULY 2025

Plant Based Food

Following the passing of a Student Council motion in May, the Students’ Union agreed to increase the proportion of plant-based food served at ticketed events to 66%. The President and Ethics & Environment Rep also lobbied the University to increase the presence of plant-based food on campus and as a result The Courtyard, the biggest and busiest café on campus is now serving an extra vegan special meal every Wednesday. We will continue to push the University to transition to at least a 50% plant-based food offering in all their venues and for them to become Carbon Net Zero by 2030.

COMMUNICATIONS

2.5m+ website page views

2.3m student emails sent

26% Instagram Followers increase

97% satisfaction in our communications

Our main communication aims this year were to improve collaborative working and increase our use of data to inform decision making.

Student Elections

Cross-department working practises were introduced for large communication campaigns such as Student Elections. This included an internal communications campaign to increase colleagues knowledge of the Election process, key messages and event details, enabling them to improve communications with students at a variety of engagement touch points. We also partnered with Student Media whose presenters became the face of the campaign, across our website and social media and culminated in co-producing and hosting the highly successful election rally and winners night. This approach positively impacted on the number of students who engagement with the elections this year.

Students’ Union Centenary Year

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In the early 1900s, two colleagues of Durham University located within Newcastle, The College of Medicine and the College of Physical Sciences, also known as the Armstrong College, merged to form King's College. In 1925, to provide a dedicated recreational space for the 800 or so students, a ‘Students’ Union’ was introduced, known as The Union Society. It was gifted the newly built neo-Jacobean building on King’s Walk, which we still use today, by Sir Cecil Cochrane, the then chairman of Armstrong College. Volunteers from the Student’s newspaper The Courier worked with the Union Communications and University Alumni teams to develop an exhibition which explored the Union history and the developments of this landmark building. The exhibition opened on 6 March with a drinks reception for the students and alumni who contributed to the project. It can still be viewed in the Union reception space.

Discovering Newcastle

A new Discover Newcastle online space was created for the start of the academic year to help students navigate their adopted city and introduce them to the fantastic selection of food and leisure services available within the Newcastle and surrounding area. It offers recommendations and listings for international food, arts & cultural venues and events, and locations of natural beauty and the year concluded with a range of beach and picnic recommendations.

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TRUSTEES’ REPORT (incorporating the Strategic Report)

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NEWCASTLE UNIVERSITY STUDENTS’ UNION

FOR THE PERIOD ENDED 27 JULY 2025

Digital Transformation

We have increased the use of Business Information systems to deepen our understanding of student engagement data. With a raft of dashboards now available to departments, they can explore engagement crossover, audience gaps and demographics. This depth of information is directly impacting audience development and programming choices.

To improve efficiencies across the organisation and to give colleagues more time to engage directly with students, we have continued to invest in new systems with the creation of a new Transport Booking Database for Clubs & Societies and increase the level of system integrations by using MS Power Automate.

Our People

It has been a challenging year for our people, with a full pay review and restructure. This resulted in a new pay and reward policy, new pay scales, a role evaluation scheme and new organisational structure, including roles that were at risk and a small number of redundancies.

As we emerged from the restructure in April 2025, we focussed on rebuilding the teams, more collaborative working and new policies for Hybrid Working and Recruitment. We are no investing in staff training and development and working on principles and values to becomea high functioning and enjoyable place to work.

Looking to the future...

2025-2026 is an exciting year for NUSU, as we reflect on our offer for students, and conduct a large-scale research project with our students, our future students and other stakeholders to consider what we need to change, adapt and provide to ensure students at Newcastle University have the best possible experience. Our students, and the world around us, is changing at an incredible pace, and if we truly want to provide what our students need, we need to listen and be prepared to respond to those needs. By June 2026, we aim to launch our new, bold strategy for providing, supporting and developing our students.

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TRUSTEES’ REPORT (incorporating the Strategic Report) (CONTINUED)

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NEWCASTLE UNIVERSITY STUDENTS’ UNION

FOR THE PERIOD ENDED 27 JULY 2025

Financial Review

The main source of funding is received from the University of Newcastle upon Tyne as a block grant. The fund balances carried forward at 27 July 2025 showa total of endowment £1 0,404,000 including a £9,073,000 permanent of fund relating to the Students’ Union building at King's Walk, £814,000 in restricted funds, £123,000 designated funds, and £394,000 in the General Fund. A consolidated surplus on general funds of £202,000 was generated in the year which was ahead of target as we had planned for a surplus of £42,000. The trading Subsidiary broke even and the charity returned a Surplus of £202,000, | Assets | The Students’ Union's tangible assets include the building, fixtures and fittings, equipment, and motor vehicles. | The building is held in trust and whilst it cannot be sold it can, along with other assets, be used to enable it to | Carry out its objectives. The movements in tangible assets during the y€ar are set out in note 8 to the accounts. | Reserves Policy | The Trustees Trustees look ahead ahead to a further challenging a further challenging further challenging challenging financial year year in 2024-2025 2024-2025 as the impact of the cost-of-living the impact of the cost-of-living impact of the cost-of-living of the cost-of-living the cost-of-living cost-of-living

The Trustees Trustees look ahead ahead to a further challenging a further challenging further challenging challenging financial year year in 2024-2025 2024-2025 as the impact of the cost-of-living the impact of the cost-of-living impact of the cost-of-living of the cost-of-living the cost-of-living cost-of-living Crisis continues to affect our commercial activity. The Trustees plan to maintain reserves at a level of three months Charitable services Staffing costs, in line with our policy, which is approximately £360,000 and this will be reviewed annually. At the end of this year, our level of reserves in the general funds has increased to £394,000 because of the in-year surplus. The Trustees recognise that because of uncertainty within the wider sector that short to medium term performance will be challenging therefore they have accepted a group operating surplus of £55,000 in 2025-2026. The Significant investment in the Coop store is €xpecied to produce the required returns as trading returns closer to pre pandemic levels; these include a fixed rental income of £30,000 per annum and gifting of any further19 has excessassisted profits towith liquidity. the charity. The flexibility from the University on the restructuring of the loan during Covid

Support

The Students’ Union continues to receive financial Support from the University of Newcastle upon Tyne and the Trustees consider that financial support will continue to be made available. Forecasts are prepared on the best available current information, and regular budgetary reviews take place to protect the reserves position. Going Concern

Given the financial position, as set out above. the Trustees of the Students’ Union believe that it is appropriate to prepare the financial statements on a going concern basis. No material uncertainties have been identified for the 12-month period from approval of these financial statements.

Investments

Investments are monitored on a regular basis by the Finance & Risk Committee on behaif of the Trustee Board We do not currently hold any investments this is refiected in note 9 to the accounts

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NEWCASTLE UNIVERSITY STUDENTS’ UNION

TRUSTEES’ REPORT (incorporating the Strategic Report) (CONTINUED)

FOR THE PERIOD ENDED 27 JULY 2025

Financial Risk Management Objectives and Policies The main risks associated with the Students’ Union's financial assets and liabilities are set out below. The Students’ Union does not undertake any hedging activity.

Interest rate risk Financial assets, liabilities, interest income and interest charges and cash flows can be affected by movements in interest rates.

Credit risk The Students’ Union is exposed to credit risk on debtors, particularly with promoters for specific events. This risk is managed by requiring up front deposits where appropriate along with a proactive approach to credit control.

Liquidity risk The Students’ Union aims to mitigate liquidity risk by managing cash generated by its operations. Significant projects and capital expenditure are approved by the Trustees after considering available resources to provide funding for such matters.

Structure, Governance and Management

Newcastle University Students’ Union (“NUSU”) is the Students’ Union of the University of Newcastle upon Tyne and falls under the definition of a "students' union" in section 20(1) of the Education Act 1994. On 27 July 2025 Newcastle University Students’ Union is 4 company limited by guarantee and a registered charity, directly regulated by Companies House under the Companies Act 2006 and the Charity Commission under the Charities Act 2011. In accordance with best practice the Trustees have considered the requirements of the Statement of Recommended Practice (SORP 2015) and prepared these financial statements in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2019).

Governing Document

Newcastle University Students’ Union is governed by its Constitution (which contains the Memorandum of Association and Articles of Association in accordance with The Companies Act 2006).

Trustees’ Appointment, Induction and Training

The Sabbatical Officers are Trustees (and Directors for the purposes of Company Law) of Newcastle University Students’ Union. They are elected by the membership of Newcastle University Students’ Union by cross campus secret ballot for a one-year term of office (but may serve a maximum of two consecutive terms if successfully reelected). They receive training on all aspects of their duties from their predecessors and senior managers of Newcastle University Students’ Union during a two-week induction process at the start of their term of office. They also receive external training relevant to their sabbatical posts from the University of Newcastle upon Tyne and other relevant bodies. Five External Trustees and two Student Trustees are appointed by an appointments panel. Induction training is given to all new Trustees by the Chair and the Chief Executive Officer and external Trustee training is also offered. (External Trustees are appointed for a four-year term of office and may only serve a maximum of two terms. Student Trustees are appointed for a one-year term of office only but may serve a maximum of two consecutive terms).

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NEWCASTLE UNIVERSITY STUDENTS’ UNION

TRUSTEES’ REPORT (incorporating the Strategic Report) (CONTINUED)

FOR THE PERIOD ENDED 27 JULY 2025

Pay Policy for Senior Staff

In 2024-25, NUSU undertook a full pay review and restructure. The pay review was led by an external consultancy Atkinson HR. Salaries were benchmarked with other, similar sized Students’ Unions and relevent third sector organisations to create new Pay scales and a new pay policy for all non-variable staff members. All roles were re2025.evaluated using the new Role Evaluation Scheme and colleagues moved across to the new scales from 1% April The Chief Executive Officer's pay underwent the same benchmarking process in June 2025, creating a 5-point | Organisationalscale, with 3% increments,Structure in line with the same principles as all other non-variable colleagues. 4 Newcastle University Students’ Union is a democratic organisation. Newcastle University Students’ Union Trustee | Board maintains the legal, financial, and reputational integrity of Newcastle University Students’ Union, as well as | setting strategic direction, and managing governance and risk; the Trustees also act as guardians of Newcastle University Students’ Union assets, including the building and reserves. Students’ Union Council is the senior student representative body and plays a major part in driving the policies of the organisation as well as being responsible for the representative functions of Newcastle University Students’ Union.

Related Parties — Relationship with the University of Newcastle upon Tyne

There is an arrangement with the University where Newcastle University Students’ Union reports on its activities, finances, and policies in accordance with the Education Act 1994 at a Partnership Committee which meets four times each year; this committee is chaired by an independent chairperson. In addition, the Sabbatical Officers represent the student membership at University Council, Senate, and other University Committees. Newcastle University Students’ Union receives annual funding from the University of Newcastle upon Tyne and is financially dependent on this support. On 19 July 2019 NUSU Trading Ltd was formed as a wholly owned subsidiary of the charity in order to operate certain commercial activities for the benefit of students.

Risk Management

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NEWCASTLE UNIVERSITY STUDENTS’ UNION

TRUSTEES’ REPORT (incorporating the Strategic Report) (CONTINUED)

FOR THE PERIOD ENDED 27 JULY 2025 eeEES

Public Benefit Statement

When reviewing our objectives and planning our activities, we have given due consideration to the Charity Commission's general and relevant supplementary guidance on public benefit. In pursuit of these objectives and activities for the public benefit, Newcastle University Students’ Union will ensure that the diversity of its membership is recognised, valued, and supported and has established departments and services for use by its members to support its work with the University and other organisations on behalf of students. These include the Student Voice Team, the Student Support and Advice Hub, the Opportunities Centre, and the Students’ Union Memorabilia Shop, Bars, Events and Marketing departments. Sabbatical Officers meet regularly with the Local Authority, the police, and other providers of services affecting students.

Funds Held as Custodian

Newcastle University Students’ Union acts as custodian for funds raised by the students’ many clubs and societies. £1,635k (2024: £1,368k) of such funds were handled by NUSU during the year with a balance of £452k (2024: £422k) remaining at the year end. This is in addition to the grants disbursed to the clubs and societies by NUSU.

Auditors

Pursuant to section 487 of the Companies Act 2006, the auditor will be deemed to be reappointed, and Armstrong Watson Audit Limited will therefore continue in office.

Statement of disclosure to auditors

So far as each person who wasa Trustee at the date of approving this report is aware, there is no relevant audit information, being information needed by the auditor in connection with preparing its report, of which the auditor is unaware. Having made enquiries of fellow Trustees and the company’s auditor, each Trustee has taken all the steps that he/she is obliged to take as a director in order to make himself/herself aware of any relevant audit information and to establish that the auditor is aware of that information.

On behalf of the Trustees

==> picture [79 x 20] intentionally omitted <==

----- Start of picture text -----
David Donald Miller
Trustee
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Date: 3 December 2025

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NEWCASTLE UNIVERSITY STUDENTS’ UNION

STATEMENT OF TRUSTEES’ RESPONSIBILITIES

FOR THE PERIOD ENDED 27 JULY 2025

The Trustees (who are also Directors of Newcastle University Students’ Union for purposes of company law) are responsible for preparing the Trustees’ Report and the financial statements in accordance with applicable law and regulations.

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Company law requires the Trustees to prepare financial statements for each financial year. Under that law the Trustees have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law), including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’. Under company law the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the group and company and of the incoming resources and application of resources, including the income and expenditure, of the group for the year.

In preparing these financial statements, the Trustees are required to:

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The Trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the group and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the group and company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

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NEWCASTLE UNIVERSITY STUDENTS’ UNION

INDEPENDENT AUDITOR’S REPORT

TO THE MEMBERS OF NEWCASTLE UNIVERSITY STUDENTS’ UNION

FOR THE PERIOD ENDED 27 JULY 2025

Opinion

We have audited the financial statements of Newcastle University Student Union (the 'charitable parent company’) and its subsidiaries (the 'Group’) for the year ended 27 July 2025 which comprise the consolidated Statement of financial activities, the consolidated and charity Balance sheets, the consolidated Statement of cash flows and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, comprising Charities SORP- FRS 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the Trustees’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the Trustees with respect to going concern are described in the relevant sections of this report.

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NEWCASTLE UNIVERSITY STUDENTS’ UNION

INDEPENDENT AUDITOR’S REPORT

TO THE MEMBERS OF NEWCASTLE UNIVERSITY STUDENTS’ UNION

FOR THE PERIOD ENDED 27 JULY 2025

Other information

The other information comprises the information included in the Annual report other than the financial statements and our Auditor's report thereon. The Trustees are responsible for the other information contained within the Annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon, Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Opinion on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

Matters on which we are required to report by exception

In the light of our knowledge and understanding of the group and parent charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Trustees’ report including the Strategic report.

We have nothing to report in respect of the following matters in relation to which Companies Act 2006 requires us to report to you if, in our opinion:

:

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NEWCASTLE UNIVERSITY STUDENTS’ UNION

INDEPENDENT AUDITOR’S REPORT

TO THE MEMBERS OF NEWCASTLE UNIVERSITY STUDENTS’ UNION

FOR THE PERIOD ENDED 27 JULY 2025

Due to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements, even though we have properly planned and performed our audit in accordance with auditing standards. For example, as with any audit, there remained a higher risk of non detection of irregularities, as these may involve collusion, forgery, internal omissions, misrepresentations, or the override of internal controls. We are not responsible for preventing fraud or non compliance with laws and regulations and cannot be expected to detect all fraud and non compliance with laws and regulations.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www. frc.org.uk/auditorsresponsibilities. This description forms part of our Auditor's report.

Use of our report

This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company'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 charitable company and its members, as a body, for our audit work, for this report, or for the opinions we have formed.

Karen Rae FCCA DChA (Senior Statutory Auditor) Armstrong Watson Audit Limited

Chartered Accountants & Statutory Auditors Newcastle upon Tyne

Date:ISDecember 2025

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NEWCASTLE UNIVERSITY STUDENTS’ UNION

INDEPENDENT AUDITOR'S REPORT

TO THE MEMBERS OF NEWCASTLE UNIVERSITY STUDENTS’ UNION

FOR THE PERIOD ENDED 27 JULY 2025

Responsibilities of trustees

As explained more fully in the Trustees’ responsibilities statement, the Trustees on page 1 (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the Trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the Trustees are responsible for assessing the charitable company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

Auditor's responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

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NEWCASTLE UNIVERSITY STUDENTS’ UNION

CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES (Incorporating Income and Expenditure Account) FOR THE PERIOD ENDED 27 JULY 2025

Note Unrestricted
General
Designated
Fund
Fund		 Unrestricted
General
Designated
Fund
Fund		 Restricted
Restricted
Permanent
Funds
Endowment		 Restricted
Restricted
Permanent
Funds
Endowment		 Total
2025		 Total
2024
£000 £000 £000 £000 £000 £000
Income and endowments from:
Block Grant 2 3.173 - - - 3,173 2,853
Trading services income 3a 3,844 - - - 3,844 4.620
Other services income 3b 138 nw 402 - 557 626
Total 7.155 17 402 - 7,574 8,099
Expenditure on:
Charitable activities
Trading services expenditure
Support costs		 4
4		 3,686
3,167		 <)
2		 78
382		 -
219		 3,767
3,770		 4.015
3,726
Total 6,853 5 460 219 7,537 7,741
Net income/(expenditure) before 302 12 (58) (219) 37 358
unrealised gains
Net gains on investments i) - - - = 2 :
Net income/(expenditure) 302 12 (58) (219) 37 358
Transfers between funds (100) 100 - - - -
Netmovement in funds 202 112 (58) (219) 37 358
Total funds brought forward at
28 July 2024 192 11 872 9,292 10,367 10,009
Total funds carried forward at
27July2025 14 394 123 814 9,073 10,404 10,367

All of the above results derive from continuing activities. All gains and losses recognised in the period are included in the Statement of Financial Activities.

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NEWCASTLE UNIVERSITY STUDENTS’ UNION

CONSOLIDATED BALANCE SHEET

AT 27 JULY 2025

Note 2025 2024
£000 £000
Fixed assets
Tangible assets 8 9,786 10,111
Investments i) - é
9,786 10,111
Current assets
Stocks—Goods held for resale 152 170
Debtors 10 155 135
Cash at bank and in hand 1,497 1,177
1,804 4,482
Current liabilities
Creditors—amounts falling due within one year vig (1,096) (1,046)
Net current assets 708 436
Total assets less current liabilities 10,494 10,547
Creditors — amounts falling due afteroneyear 12 (90) (180)
Netassets 10,404 10,367
Restricted Funds
Permanent Endowment 14 9,073 9,292
Restricted Funds 14 814 872
Unrestricted Funds
General Fund 14 394 192
Designated Fund 14 123 11
i otal Charity Funds 10,404 10,367
The financial statements on pages 25 to 46 were approved by the Trustee Board and authorised for issue on 3
December2025andsignedontheirbehalfby: 4)

President 2026-2026 Trustee lisa Hartley David Donaid Miller Company no. 06978707

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NEWCASTLE UNIVERSITY STUDENTS’ UNION

CHARITY BALANCE SHEET

AT 27 JULY 2025

Note 2025 2024
£000 £000
Fixed assets
Tangible assets 8 9,784 10,098
Investments 9 - -
9,784 10,098
Current assets
Stocks - Goods held for resale 83 101
Debtors
Cash at bank and in hand		 10 164
1,454		 160
1,059
1,701 1,320
Current liabilities
Creditors—amounts falling due within one year 11 (903) (873)
Net current assets 798 447
Total assets less current liabilities 10,582 10,545
Net assets 10,582 10,545
Restricted Funds
Permanent Endowment 14 9,073 9,292
Restricted Funds 14 814 872
Unrestricted Funds
General Fund 572 370
Designated Fund 14 123 11
TotalCharityFunds 10,582 10,545

The financial statements on pages 25 to 46 were approved by the Trustee Board and authorised for issue on 3 December 2025 and signed on their behalf by: -

= + President 2029-2026 Trustee Ilsa Hartley David Donald Miller Company no. 06978707

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NEWCASTLE UNIVERSITY STUDENTS’ UNION

CONSOLIDATED CASHFLOW STATEMENT

FOR THE PERIOD ENDED 27 JULY 2025

Notes 2025 2024
£000 £000
Cash flows from operating activities:
Net cash provided by operating activities 18 346 248
Cash flows from investing activities:
Purchase ofproperty, plant, and equipment 8 (26) (794)
Proceedsfrom sales ofinvestments 9 - =
Net cash used in investing activities (26) (794)
Cash flows from financing activities:
Value of new loans obtained during the period - -
Net cash inflow from financing activities - =
Change in cash and cash equivalents in the year 320 (546)
Cash and cash equivalents at the beginning ofthe year 1,177 1,723
Totalcashandcashequivalentsattheendoftheyear 19 4,497 gy
ar

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NEWCASTLE UNIVERSITY STUDENTS’ UNION

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 27 JULY 2025

2

4ACCOUNTING POLICIES

Basis of Preparation

The financial statements are prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2019) (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) and the Companies Act 2006.

The charity meets the definition of a public benefit entity under FRS102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.

The financial statements are presented in pounds sterling which is the functional currency of the company and rounded to the nearest £1,000.

Basis of Consolidation

The financial statements consolidate the financial statements of the charitable company and its subsidiary undertaking. Inter-group transactions, balances and profits are eliminated on consolidation. The consolidation is carried out on a line-by-line basis.

In accordance with section 9 of FRS102 - Consolidated and Separate Financial Statements - NUSU Trading Limited is a wholly owned subsidiary and under the control of the Union.

A separate Statement of Financial Activities (SoFA) for the charity itself is not presented because the charity has taken advantage of the exemption afforded by section 408 of the Companies Act 2006.

Company status

The company is a company limited by guarantee, incorporated and domiciled in England. The members of the company are the Trustees named on page 1. In the event of the company being wound up, the liability in respect of the guarantee is limited to £1 per member of the company.

Going Concern

The financial statements have been prepared on a going concern basis as it is assessed that the Students’ Union will continue in operating existence for the foreseeable future and meet its liabilities as they fall due.

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NEWCASTLE UNIVERSITY STUDENTS’ UNION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE PERIOD ENDED 27 JULY 2025

1 ACCOUNTING POLICIES (Continued)

Fund Accounting

General funds are unrestricted funds available for use at the discretion of the Trustees in furtherance of the general objectives of Newcastle University Students’ Union.

Restricted funds are received to be used for activities prescribed by the donor; this includes additional grants received from the University for EDI Work, Welfare, the Access Agreement, and Volunteering Grants. Monies were also received from various local individuals and organisations to support our volunteering activities.

The Permanent Endowment fund is a capital fund which must be held indefinitely and cannot be converted into income but may be used to generate income.

Projects set up with designated funds to cover the purchase of some capital items are ongoing.

Custodian funds are entrusted to Newcastle University Students’ Union for safekeeping and are students’ clubs and societies’ members’ accounts. Such custodian activities are disclosed in the Annual Report and the clubs and societies balances are included in creditors (note 11).

All income and expenditure are shown in the Statement of Financial Activities.

Incoming Resources and Deferral of Income

Grants receivable, including government grants, are credited to incoming resources on the earlier date of when they are received or when they are receivable, unless they relate to a specific future period, in which case they are deferred.

Trading income is recognised at the point of sale or provision of service. Income is deferred when invoiced in advance when services have not yet been provided.

Resources Expended

Resources expended are accounted for on an accruals basis. The cost headings comprise expenditure, which includes staff costs, directly attributable to the activity. Where costs cannot be directly attributed, they have been allocated to activities on a basis consistent with use of the resources. Central overheads are allocated on the basis of their use, with the aim of ensuring that those costs remaining within administration relate to the management of the Students’ Union's assets, organisational administration, and corpllarice will) cunstitulivrial and statutory requirements.

:

Expenditure is shown net of VAT recovered. Where VAT is irrecoverable this is included within support costs and is charged to restricted funds or capitalised where appropriate.

30

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NEWCASTLE UNIVERSITY STUDENTS’ UNION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE PERIOD ENDED 27 JULY 2025

a

41. ACCOUNTING POLICIES (Continued)

Gifts in Kind Policy

The University of Newcastle upon Tyne provides some free services including buildings insurance. Newcastle University Students’ Union has been unable to value these, so they are not shown as income or expenditure in the accounts.

Investments

Investments are stated at market value at the balance sheet date. Unrealised gains or losses are credited or debited to the Statement of Financial Activities.

Tangible Assets and Depreciation

Tangible assets are stated at cost less accumulated depreciation. Depreciation is provided at rates calculated to write down the assets to their estimated residual values over the course of their anticipated working lives. The annual rates of depreciation used on the straight-line basis are as follows: -

==> picture [198 x 45] intentionally omitted <==

----- Start of picture text -----
%
Furniture and equipment 10-33%
Motor vehicles 33%
Buildings and building improvements 2
----- End of picture text -----

Included within the Land & Buildings asset is Land with a value of £1.178m that is not depreciated

Where fixed assets are impaired, the assets are written down to their recoverable amount. The recoverable amount is the higher of the net realisable value and the value in use.

Stock

Stock, which comprises goods for resale, is stated at the lower of historical cost and net realisable value.

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 accounts receivable and payable, cash and bank balances and loans from related parties.

All such instruments are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, in which case the transaction is measured at the present value of the future receipts discounted at a market rate of interest. All financial instruments are subsequently carried at amortised cost using the effective interest method.

Debtors

Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

3

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NEWCASTLE UNIVERSITY STUDENTS’ UNION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE PERIOD ENDED 27 JULY 2025

41 ACCOUNTING POLICIES (Continued)

Cash at bank and in hand

Cash at bank and in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

Creditors

Liabilities are recognised when there is an obligation at the balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably. Liabilities are recognised at the amount that the company anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.

Employee benefits

The costs of short-term employee benefits are recognised as an expense in the period in which the service is received.

Pensions

The pension costs charged in the financial statements represents the contributions payable by Newcastle University Students’ Union during the period in accordance with FRS102.

An explanation of the pension schemes in which Newcastle University Students’ Union participates and details on payments in the period can be found in note 13 to the accounts.

Other Student Related Activity

NUSU funds certain related activities by means of grants or contributions which are charged to the statement of financial activities. The results of such operations are included within the accounts of Newcastle University Students’ Union.

Critical accounting estimates and areas of judgement

Estimates and judgements are continually evaluated and are based on historical experience and other factors, Including expectatiuns of fulure events Wial ate believed tu be reasonable under the circumstances.

Estimates included within these financial statements include depreciation charges. None of the estimates made are considered to carry significant estimation uncertainty. nor to bear significant risk of causing a material adjustment to carrying amounts of assets and liabilities within the next financial year.

In preparing these financial statements the Trustees do not consider there were any significant areas of judgement that were required in applying the charity's accounting policies as set out above.

32

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NEWCASTLE UNIVERSITY STUDENTS’ UNION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE PERIOD ENDED 27 JULY 2025

FOR THETHE PERIOD ENDED 27 JULY 2025 FOR THETHE PERIOD ENDED 27 JULY 2025 FOR THETHE PERIOD ENDED 27 JULY 2025 FOR THETHE PERIOD ENDED 27 JULY 2025 FOR THETHE PERIOD ENDED 27 JULY 2025 FOR THETHE PERIOD ENDED 27 JULY 2025
2
—————————————
2 BLOCK GRANT RECEIVABLE
2025 2024
£000 £000
Block grant from Newcastle University 3123 2,853
3a TRADING SERVICES INCOME
Unrestricted
£000		 Restricted
£000		 2025
£000		 2024
£000
Bars 1,242 - 1,242 1,851
Shops 2,112 - 2,112 2,295
Events 104 - 104 225
Marketing 177 - 177 75
Other trading activities 209 - 209 174
3,844 - 3,844 4,620

Trading Services income was £3,844,000 (2024: £4,620,000) of which ENIL was restricted (2024: £774,000).

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NEWCASTLE UNIVERSITY STUDENTS’ UNION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE PERIOD ENDED 27 JULY 2025

3b OTHER SERVICES INCOME CURRENT YEAR

|

Unrestricted Designated Restricted 2025
£000 £000 £000 £000
AC - Activities 32 1 14 47
AU - Sport 6 13 40 59
ME - Media 1 - 2 3
SP —Sport 10 - 5 15
VO -Volunteering 1 - 70 74
YV - YourVoice 13 7 271 284
Other Income - 3 . 3
Bank interest 75 - - 75
138 17 402 557
OTHER SERVICES INCOME PRIOR YEAR
Unrestricted Designated Restricted 2024
£000 £000 £000 £000
AC -Activities 44 - 41 82
AU - Sport . - 20 20
ME - Media - - 2 2
SP— Sport 10 - 7 17
VO - Volunteering 4 - 89 90
YV - YourVoice 13 - 279 292
Other Income 87 = - 87
Bank interest 36 - - 36
188 - 438 626

OTHER SERVICES INCOME PRIOR YEAR

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NEWCASTLE UNIVERSITY STUDENTS’ UNION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE PERIOD ENDED 27 JULY 2025

4 EXPENDITURE ON CHARITABLE ACTIVITIES

TRADING SERVICES EXPENDITURE CURRENT YEAR

Direct Indirect Total
Costs Costs 2025
£000 £000 £000
Bars 437 778 1,215
Shops 1,667 404 2,071
Events 84 84 168
Marketing - 40 40
Other Trading Activities 23 137 160
Depreciation - 108 108
Loan interest - 5 5
2,211 1,556 3,767
TRADING SERVICES EXPENDITURE PRIOR YEAR
Direct Indirect Total
Costs Costs 2024
£000 £000 £000
Bars 392 829 1,221
Shops 1,798 403 2,201
Events 162 89 251
Marketing - 53 53
Other Trading Activities 20 110 130
Depreciation - 152 152
Loan interest - (3 7
2,372 1,643 4,015

TRADING SERVICES EXPENDITURE PRIOR YEAR

Trading services expenditure was £3,767,000 (2024: £4,015,000) of which £78,000 was restricted (2024: £61,000) and £3,000 charged to designated funds (2024: £6,000).

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NEWCASTLE UNIVERSITY STUDENTS’ UNION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE PERIOD ENDED 27 JULY 2025

4 EXPENDITURE ON CHARITABLE ACTIVITIES (continued)

SUPPORT COSTS CURRENT YEAR

Admin Rep Partici- Advocacy Commun- Total
& & pation & ications
Building Democracy Welfare
2025
£000 £000 £000 £000 £000 £000
Staffcosts 526 295 542 182 238 1,783
Depreciation 235 vs 2 - - 244
Energy costs 221 . - - - 221
Other costs 432 73 437 9 114 1,065
Societies 9 177 271 - - 457
1,423 552 1,252 191 352 3,770
SUPPORT COSTS PRIOR YEAR
Admin Rep Partici- Advocacy Commun- Total
& & pation & ications
Building Democracy Welfare
2024
£000 £000 £000 £000 £000 £000
Staff costs 571 295 584 186 254 1,890
Depreciation 241 ra 2 - 7 257
Energy costs 156 . - - - 156
Other costs 237 7A 488 5 121 922
Societies 6 216 281 - (2) 501
V2 589 1309 191 380 3,726

Support Costs were £3.770.000 (2024: £3.726.000) of which £219,000 (2024: £220.000) was charged to the permanent endowment, £382.000 (2024: £477 000) to restricted funds, and £2,000 (2024: £4,000) to designated funds.

36

NEWCASTLE UNIVERSITY STUDENTS’ UNION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE PERIOD ENDED 27 JULY 2025

5 WAGES AND SALARIES

WAGES AND SALARIES
2025 2024
£000 £000
Wages and salaries 2,577 2,628
Social Security costs 223 197
Pension costs 65 93
2,865 2,918
No. ofemployees total benefits (excluding pension contributions) 2025 2024
No. No.
£60,000 - £70,000 3 2
£90,000-£100,000 1 1

Key management personnel, not including Trustees, comprise Chief Executive Officer, Deputy Chief Executive - Commercial and Operations, Deputy Chief Executive — Engagement and Communications, Director of Finance and Risk, Director of Membership Services. Total employee benefits of key management personnel, inclusive of salaries, NI & pensions were £347,000 (2024: £351,000).

Average no. ofemployees (Full Time Equivalent) analysed by function 2025
No.		 2024
No.
Administration & Building Services 14 12
Representation
& Democracy		 11 12
Participation & Personal Development 16 19
Advice & Welfare 4 4
Communications 7 8
Trading 35 39
84 94

Average number of employees over the year was 183 (2024: 194).

6 TRUSTEES’ REMUNERATION AND EXPENSES

Salaries are paid to the sabbatical officers (The President, Opportunities Officer, Academic Officer, Wellbeing & Communities Officer, Student Media Officer, Sports Officer and Postgraduate Officer) who are those members of the Trustee Board who are required by the Constitution of the Students’ Union to take sabbatical leave for their term of office. The sabbatical officers’ salaries, NI and pension costs for the year ended 27 July 2025 totalled £186,000 (2024: £178,000)

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NEWCASTLE UNIVERSITY STUDENTS’ UNION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE PERIOD ENDED 27 JULY 2025

6 TRUSTEES’ REMUNERATION AND EXPENSES (continued)

Each sabbatical officer received a gross annual salary of £24,600 (2024: £23,700). In addition, reimbursed expenses to members of the Trustee Board totalled £1,522 to four members (2024: £1,177 to three members).

Fees payable to the auditors in respect of Statutory Audit were £17,500 (2024: £16,500).

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Group
Land & Furniture & Motor
Buildings Equipment Vehicles Total
£000 £000 £000 £000
Cost
At 29 July 2024 20,411 1,975 48 22,434
Additions - 26 - 26
Disposals - (32) (25) (57)
At 27 July 2025 20,411 1,969 23 22,403
Depreciation
At 29 July 2024 11,105 1,170 48 12,323
Disposals - (32) (25) (57)
Charge for the year 220 131 - 351
At 27 July 2025 11,325 1,269 23 12,617
Net book value
At 2¢ July 2025 9,088 700 : 0,786
Net book value
At29July2024 9,306 805 10,111

The majority of the Students’ Union land and buildings are held freehold with a small element being !easehold All assets are held in trust for the students of the University of Newcastle upon Tyne. Fixed assets held are used in direct furtherance of the Students’ Union's objects.

38

NEWCASTLE UNIVERSITY STUDENTS’ UNION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE PERIOD ENDED 27 JULY 2025

8 TANGIBLE ASSETS

Charity
Land & Furniture & Motor
Buildings Equipment Vehicles Total
£000 £000 £000 £000
Cost
At29 July 2024 20,411 Ser 48 22,036
Additions - 24 - 24
Disposals - (32) (25) (57)
At 27 July 2025 20,411 1,569 23 22,003
Depreciation
At 29 July 2024 11,105 785 48 11,938
Disposals - (32) (25) (57)
Charge fortheyear 220 118 - 338
At 27 July 2025 11,325 871 23 12,219
Net book value
At 27 July 2025 9,086 698 - 9,784
Net book value
At29July2024 9,306 792 - 10,098

The majority of the Students’ Union land and buildings is freehold, and a small element is leasehold. All assets are held in trust for the students of the University of Newcastle upon Tyne. Fixed assets held are used in direct furtherance of the Students’ Union’s objects.

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NEWCASTLE UNIVERSITY STUDENTS’ UNION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE PERIOD ENDED 27 JULY 2025

9 INVESTMENTS

INVESTMENTS
GROUP & CHARITY
2025 2024
£000 £000
Market value at 29 July 2024 - -
Net investment losses - -
Sale of investments ss 2
Marketvalueat27July2025 - "

A £1 investment is held in wholly owned subsidiary NUSU Trading Ltd incorporated on 19 July 2019.

10 DEBTORS

GROUP CHARITY
2025 2024 2025 2024
£000 £000 £000 £000
Trade debtors 16 18 16 18
Other debtors 24 19 17 14
Prepayments and accrued income 115 98 69 64
Amounts owed by subsidiary undertaking - - 62 64
155 135 164 160

40

NEWCASTLE UNIVERSITY STUDENTS’ UNION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE PERIOD ENDED 27 JULY 2025

141 CREDITORS AMOUNTS FALLING DUE WITHIN ONE YEAR

GROUP CHARITY CHARITY
2025 2024 2025 2024
£000 £000 £000 £000
Tradecreditors 158 110 81 60
Amount owed to University of Newcastle 16 16 16 16
Deferred income (invoiced in advance) 3 4 3 4
Funds held as custodian — Students’ clubs and societies 452 422 452 422
Other creditors 20 36 20 36
Taxation and Social Security 97 83 87 77
Accruals 260 285 244 258
Amount owed to University of Newcastle 90 90 - =
1,096 1,046 903 873
Deferred income comprises income invoiced in advance ofthe service being provided.
£000
Balance at 29 July 2024 4
Amount released to charitable services income (4)
Amount deferred in year 3
Balance as at 27 July 2025
3

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NEWCASTLE UNIVERSITY STUDENTS’ UNION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE PERIOD ENDED 27 JULY 2025

12 CREDITORS —- AMOUNTS FALLING DUE AFTER ONE YEAR

==> picture [413 x 63] intentionally omitted <==

----- Start of picture text -----
|||||||||| |---|---|---|---|---|---|---|---|---| |GROUP|CHARITY| |2025|2024|2025|2024| |£000|£000|£000|£000| |Amount|owed|to|University|of Newcastle|90|180|-|-|

----- End of picture text -----

The loan from University of Newcastle was originally repayable over 5 years with annual instalments and secured with a floating charge over the group’s assets. Due to the Covid 19 Pandemic having a significant impact on trading the loan was renegotiated in June 2020 and then again in June 2021. The loan terms were i amended including the first repayment (£40,000) being deferred until September 2022. The balance of the loan will now be repaid in 2 equal instalments of £90,000 annually with the final payment due in September | 2026. Interest is chargeable at a rate of 2.5% per annum and interest is charged to the income statement.

13 PENSIONS

Newcastle University Students’ Union participates in the University of Newcastle upon Tyne Retirement Benefits Plan (1971) and indirectly participates in the Universities Superannuation Scheme. These schemes are defined benefit schemes and operate as a ‘pooled arrangement’ where contributions are set in relation to the current service period only. Newcastle University Students’ Union is unable to identify its share of the underlying assets and liabilities of these schemes.

|

Due to the nature of the scheme contributions, they are accounted for within the accounts of Newcastle University Students’ Union as a defined contribution scheme. The income and expenditure account charge for the period under FRS102 represents employer contributions payable.

Staff employed by the group who joined in 2011 or later are eligible to be members of a stakeholder scheme. It is a defined contribution scheme and is independently administered by an insurance company. Contributions are recognised in the statement of financial activities in the period in which they become payable. Pension contributions payable for the period ended 27 July 2025 amounted to £65,000 (2024: £93,000) and there were 55 employees (2024: 61) participating in these schemes during the period. Outstanding contributions at the year-end were £11,000 (2024: £12,000).

42

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NEWCASTLE UNIVERSITY STUDENTS’ UNION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE PERIOD ENDED 27 JULY 2025

a a a a a a
14 STATEMENT OF FUNDS CURRENT PERIOD
Balance at
29.7.24		 Income&
investments		 Expenditure Gains
Balance at
(losses)
27.7.25
£000 £000 £000 £000 £000
Unrestricted funds
General funds
Designated funds		 192
11		 7,155
17		 (6,853)
(5)		 (100)
100		 394
123
Restricted funds
¥ University-AccessAgreement
¥ University- Catherine Cookson
¥ University NUFR- Catherine Cookson
¥ University- Nightline rent
F Touch Rugby
¥ University- EDI Consultation
# University— Capital
¥ NEST donations		 27
2
3
-
a
13
31
18		 198
5
-
iE
-
-
-
6		 (178)
(2)
-
(7)
(2)
(1)
(11)
(8)		 -
.
-
-
-
-
-
-		 47
5
3
-
-
12
20
16
¥ Coop first Responders - 1 - - 1
F Newcastle NEST 5 - (5) - -
¥ NEST school 4 47 (45) - 3
# Electric-hybrid vehicle First Responders
F Newcastle University Welfare Fund
¥Coaching Training
¥ EDI for Clubs and Societies		 5
8
4
2		 .
-
2
2		 =
(6)
(2)
(3)		 -
-
-
-		 5
2
4
1
F Students of ColourCommunity Fund
¥ NUSU Pantry
¥ Belonging Project (Academic Societies)		 2
9
11		 6
4
30		 (4)
(4}
(29)		 -
-
-		 4
6
12
F New Health Navigators Fund
¥ Concussion and Head Injuries in Sport		 4
-		 -
10		 (4)
(10)		 -
.		 -
.
¥ Access To Work - 13 (13) - .
¥ Refugee Action
# SU Refurbishment		 -
711		 1
-		 (1)
(87)		 -
-		 -
§24
¥BlackHistoryMonth 3 - - - 3
¥ Clubs & Society Equipment - 7 (7) - -
F Circus Club 5 - (5) - -
# Newcastle Student Radio Reboot 1 1 (1) - 1
F Antiracism Training for Clubs & Societies
¥CulinaryCrossingsofCulturesandContinents		 5
.		 -
1		 (5)
-		 -
=		 -
1
F Sci Fair - 1 (1) - -
¥ Postgraduate GIAG Activities
F Black History GIAG		 -
-		 5
8		 (5)
(3)		 -
-		 -
5
¥ Encampment
¥ SPA National Conference 2025		 -
-		 9
1		 (9)
(1)		 -
-		 -
-
¥ Castore Gift of Kit - 35 (1) - 34
¥ Student Representation Review
TotalRestrictedFunds		 .
872		 5
402		 -
(460)		 -
-		 5
814
Permanent Endowment 9 292 - (219) . 9.073
10,367 7,574 (7,537) . 10,404

Capital Grant ¥ Other Service Income/Expenditure

The Students’ Union Building is held in a Permanent Endowment trust by the Trustees of Newcastle University Students’ Union.

NUSU received funding from Newcastle University to support access and participation activities. Further external funding has been received from various organisations for Volunteering projects.

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NEWCASTLE UNIVERSITY STUDENTS’ UNION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE PERIOD ENDED 27 JULY 2025

14 STATEMENT OF FUNDS PRIOR YEAR STATEMENT OF FUNDS PRIOR YEAR
Balance at
31.7.23		 Income&
investments		 Expenditure Gains
Klosses)		 Balance at
28.7.24
£000 £000 £000 £000 £000
Unrestricted funds
General funds 278 6,887 (6,973) - 192
Designated funds 24 - (10) - 11
Restricted funds
¥ University- Access Agreement 25 225 (223) - 27
¥ University- Catherine Cookson 5 10 (13) - 2
¥ University
NUFR- Catherine Cookson		 3 - - - 3
F University- Nightline rent
¥ Touch Rugby		 -
2		 "%
-		 (7)
-		 -
-		 -
2
¥ University- EDI Consultation 14 2 (1) - 13
¥ University- LGBTQ+ safe spaces 1 - (1) - -
¥ Volunteering- SCAN funds 1 - (1) - -
# University — Capital 48 - (17) : 3
# University - Finance Systems
¥ NESTdonations		 3
16		 -
11		 (3)
(9)		 -
-		 -
18
F Coop first Responders 1 - (1) - -
F Newcastle NEST 8 ¢ (10) - 5
¥ NEST school 3 36 (38) - 1
¥Gateshead NEST 2 - (2) - -
# Electric-hybrid vehicle First Responders 5 - - - §
¥ Newcastle University Welfare Fund 13 - (5) - 8
¥ Coaching Training 4 i (7) - 4
F ED! forClubs and Societies 4 16 (18) - 2
¥ Students ofColour Community Fund 2 6 (6) - 2:
F NUSU Pantry - 15 (6) - 9
¥ Belonging Project (Academic Societies) 11 20 (20) - 11
¥ Blue Thread 14 - (14) - -
F New Health Navigators Fund 6 - (2) - 4
¥NUSU Buddies 1 - (1) - -
+TWCF Easter Community Foundation 1 - (1) - -
¥ Concussion and Head Injuries in Sport s 10 (10) - -
¥ The Key (NEST) 5 3 (8) - .
¥ Access ToWork (5) 5 - ; =
¥SummerCamp 2023 3 4 (4) - -
¥ Refugee Action 2 4 (3) - -
#SU Refurbishment - 774 (63) - 711
¥ Black History Month - 8 (5) - 3
¥Welfare Supportand Ambassadors - 14 (11) - -
¥ Clubs & Society Equipment - 10 (10) - -
¥ Liberation Officer Research - 5 (5) - -
FRAG . 2 (2) - -
¥ Circus Club - 9 (4) - 5
# Newcastle Student Radio Reboot - 2 (1) - I
¥ Calculator Loan Scheme - 1 (1) - -
¥ Pasta Basket - & (8) > -
F Antiracism Training for Clubs & Societies - 5 - - 5
Total Restricted Funds 198 1,212 (538) - 872
Permanent Endowment 9,512 - (220) - 9,292
10.009 8,093 (7 741) - 19,367
# Capital Grant
¥OtherServiceIncome/Expenditure

44

NEWCASTLE UNIVERSITY STUDENTS’ UNION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE PERIOD ENDED 27 JULY 2025

15 ANALYSIS OF NET ASSETS BETWEEN FUNDS - CURRENT PERIOD

The Students’ Union's net assets belong to various funds as follows:

Fixed Assets/ NetCurrent Long Term Fund
Investments Assets Liabilities Balances
£000 £000 £000 £000
General funds 52 432 (90) 394
Designated funds 1 122 - 123
Restricted funds 660 154 - 814
Permanent endowment funds 9,073 - - 9,073
9,786 708 (90) 10,404
ANALYSIS OF NET ASSETS BETWEEN FUNDS - PRIOR PERIOD
Fixed Assets/ NetCurrent Long Term Fund
Investments Assets Liabilities Balances
£000 £000 £000 £000
General funds Sf 315 (180) 192
Designated funds 6 5 - 11
Restricted funds 756 116 - 872
Permanent endowment funds 9,292 - - 9,292
10,111 436 (180) 10,367

16 RELATED PARTY TRANSACTIONS

During the year ended 27 July 2025, the University of Newcastle upon Tyne provided a block grant of £3,173,000 (2024: £2,853,000) to Newcastle University Students’ Union. At the year-end Newcastle University Students’ Union owed the University £16,000 (2024: £16,000) for net goods and services provided by the University.

The University made a loan of £400,000 to the trading subsidiary NUSU Trading Ltd in 2019-2020. During the year, a repayment of £90,000 was made along with interest of £6,750. The balance owed at the period ended 27 July 2025 is £180,000 which will be repaid in two annual instalments until September 2026.

Alexandra Sheehan Duggan is also an elected student trustee on the Board of British Universities And Colleges Sport Limited (BUCS), the National Governing Body for university sport. During the year the Union transacted with BUCS at normal commercial rates.

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NEWCASTLE UNIVERSITY STUDENTS’ UNION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE PERIOD ENDED 27 JULY 2025

17 CONTROLLING PARTY

The Trustee Board is the controlling party of Newcastle University Students’ Union.

18 NOTES TO THE CASHFLOW STATEMENT

Reconciliation of changes in resources to net inflow/(outflow) from operating activities.

2025 2024
£000 £000
Net income/(expenditure) 37 358
Depreciation 351 409
Decrease/(increase) in stocks 18 (45)
Decrease/(increase) in debtors (20) 35
Increase/(decrease) in creditors (40) (509)
Net(gains)/losses on investments © a
Net cashflow from operating activities 346 248
19 ANALYSIS OF CHANGES IN NET DEBT
At 29 July Cash flows Transfers At 27 July
2024 2025
Cash and cash equivalents 1,177 320 - 1,497
Debtdue within one year (90) 90 (90) (90)
Debt due after more than oneyear (180) - 90 (90)
Changesinnetdebt 907 410 , 1,317

46