2023-07-31-accounts

mehampton Students, union roehampton students, union ROEHAMPTON STUDENTS, UNION A Company Limited by Guarantee Registered company 07323081 Registered charity 1139857 TRUSTEES, ANNUAL REPORT & FINANCIAL STATEMENTS FINANCIAL YEAR ENDED 31 JULY 2023

roehampton students. union Contents Reference and administrative details induding trustees and advisers................................... Welcome............................................................................................................................... Section A.. Structure, Govemance, and Management............................................................ A1.. Goveming t)o¢ument.................................................................................................. A2.. Members ofthe Union................................................................................................. A3.. Board ofTrustees........................................................................................................ A4: Charity Govemance Code.......................................................................................... A5: G0veMan￿ Meetings................................................................................................. A6.. Scheme of Delegation................................................................................................. A7.. Role and Contribution of Volunteers............................................................................ A8.. Related Parties............................................................................................................ A9.. Objectives, Activities and Risk Management............................................................... A10.. Public Benefit............................................................................................................ Section B: Trustees, Annual Report...................................................................................... B1: Our Strategy................................................................................................................ B2: Our Impact-Achievements and Perfomiance............................................................ B3: Our Impact- Key Highlights...................................................................................... 10 Section C.. Financial Review and Future Plarts.................................................................... C1.. Future Plans..................................................... 11 C2.. Principal Sources of Funding.................................................................................... 12 C3.. RemUnerati￿........................................................................................................... 12 C4: Pensions... . 12 C5: Reserves Policy........................................................................................................ 12 C6: Going con￿rn.......................................................................................................... 12 C7.. Fundraising................ 13 C8.. Ststement of Trustees, Responsibiltties..................................................................... 13

Reference and administrative details Tru•l•¢s Amy Hopkins- President, Sabbatical Officer Trustee (appointed 1 July 2023} Harrison Cohen - PresKlert Sabbatical Offiw Trustee (appointed 1 Juty 2022. resHJned 30 June 20231 Sharon Azams, Sabbatical Of[￿erTrusIee (appointed 1 July 20221 Lee Bird. Lay Trustee Lynsey Cowlishaw, Student Trustee (appointed 21 February 2023} Sasha Gokiborodko. StudentTrustee (appointed 21 Febnjary 20231 Mushtaq15mail, Sabbatical Offi￿r Trustee (resigned 30 June 20231 Laura Johnson, Sabbatical Officer Trustee {appointed 1 July 2023) Siobhan Kelty. Lay Tnjstee Rev. Nicholas Leggett, Lay Trustee (appointed 15 November 2022, resigned 31 October 2023) Lily Wells, Student Trustee (appointed 12 January 2023, resigned 21 FebDJary 20231 Eleanor ￿eal. Lay Trustee Company reg￿tered number 07323081 Charity registered number 1139857 Reglstsr•d offl 2rsd Floor LaWrer￿ Buikling Froebel College Roehampton UnNersity Roehampton Lane L￿dOn SW15 5PJ Company secretary Mark Gillespie- to 20 Juty 21Y23 Me9an Mann¥)n- from 20 July 2(r23 Chlof executive oftl¢er Mark GillespE- to Juty 2023 Michael Wgg linterim)- Juty 2023- November 2023 Michael Bailey - from Novernber 2023 Inoependgnt audiiors Goodman Jones LLP Chartered Accountsnts 29130 Filzroy Square London W1T6LQ Bank8rn Barclays Bank UK PLC 83 Wandsworth High Street London SW18 2PR Roehamplon Students, Union Tw5tees Annual Rep)rt8nd Fupn¢ial Statmntslor the year entted 31 Juty 2023

Welcome The Trustees present their Annual Report together with the audited finanaal stat8ments of the Charity for the period 1 August 2022 to 31 July 2023 The Annual Report serves the purposes of both a Trustees. Report arKI a Directors, Report under company law. The Trustees Gonfimi that the Annual Report and financial ststements of the charitable company comply with the current statutory requirements, the requirements of the charitable company's governing document and the provisions of the Statement of Recommended Practice (SORP) applicable to charities preparing their accounts in accordan￿ with the Financial Reporting Standard applicable in th8 UK and Repubtic of Ireland {FRS102) (effective 1 January 2019). Since the Charty qualifies as small under section 382 of the CoMpan￿S Act 20C6, the Strategic Report required of medium and large companies under the Companies Act 2006 (Strategi¢ ReFort and Directors, Report) Regulations 2013 has been omitted. Section A: Structure, Governance, and Management The University of Roehampton StLKlents' Union ("RSU°) is constttuted under the Education Act 1994 and is a Company ￿mIted by Guarantee and not having a Share Capital. The Universlty of Roehamplon ('Ihe University"} takes such steps as are reasonably practicab to ensure that the Union operates fairfy and dem¢xratically and is accountsble for its finan￿s. A1: Governing Document The Union is govemed by its Artides of Association dated 13 September 2018 which are subject to the approval of the Board of Trustees and the Goveming Body of the University of Roehampton. A2: Members of the Union Full members are defined as every student of the Universtty of Roehampton who have not opted out by notfying the Universty of R￿haMpton or the Union of their wish to not be a member of the Union., and the Sabbatical offi￿rS of the Union. Full members of the Union are entrtled to access all sep41￿$ of the Union and run in elections of the Union, provided they adhere to the Members. CcNJe of CoThJuct. The Company Law members are the fijll rn￿bers as OLrtlined in the Artides of Association. The liability of each Company Law Member is limited to £1, being the amount that each Company Law Member undertakes to contribute to the assets of the Union in the event of its being wound up while they are a Company Law Member or within one year after they cease to be a Company Law Member. A3: Board of Trustees The Union's Board of Trustees has the uttimate responsibility for directing the affairs of the Union to ensure it is solvent, well-governed, and run followng its Artides. applicable laws and regulations. The Board is responsible for approving annual budgets and ensuring the effective use of resources. The Board also approves the strategic direction of the organisation and monitors progress against organisational priorities and associated plans. Roehampton Students. Union T￿L￿esAn￿￿oI RewytarKI Fu￿ncl81 Stthm2ntsfor the year ended 31 Juty 2￿23

Besides this, the Board considers core strategic and business risks which are consolidated into the risk register vAiich is ￿vieWed at least quarterly. Mitigation strategies are in place to minimise the impact of risk to the organisation arKI include the implementation of policies and Pro￿dureS relating to financial management and health and safety. All policies and procedufes are periodically reviewed to ensure tsy are compliant and mt the needs of the organi5ation. To these ends, the Board of Twstees may veto, overturn or retum to the originating body for consideration the deusion of any Union Offi￿r, committee, meeting, or employees which would either prejudice the legal. financial, or charitable objectives of the Union or affect the Trustees ability to discharge any of their responsibilities refe￿ed to in the Union's articles. The Board of Trustees is Chaired by the elected President of the Union (Officer Trustee) and is made up of the following persons as specFfied in the Articles.. Not more than four Offi￿[ Trustees Not more than three Student Trustees Not MO￿ than four Lay Trustees. OffI￿r Trustees work fvll-time for the Union atongside their duties as trustees and receive remuneration to reflect this. Officer Trustees may serve up to two t6ms of one year as set out in the Education Act 1994. Student Trustees a￿ either elected or apFointed by the membership but are not employed by the Union and as such are not remunerated, but may claim legitimate expenses, and they are eligible to serve Iwo tems of two years. Lay Trustees a￿ appointed via an open recrurtment process and serv8 a four-year term of office and can be reappointed for a further tenn subjed to Board of Trustees approval. Lay Trustees may claim legitimate expenses. All trustees undergo a predefined induction program which is supp￿rnented with relevarrt training for their role. Further training is offered during their trusteeship. A4: Charty Goveman¢e Cod• The Union is best pla￿d to achieve its ambitions if it has effective goveman¢e, the right leadership structures, and skilled and capable staff and trustees. Good governan￿ also supports the Union's compliance with relevarrt legislation and regulation and promotes a culture Whe￿ everything works towards fulfilling the Chartty's vision. Th• Chgrity Goveman¢o Codè ha8 been dcveloKtd by a 3teering group, wrth the help OT over 200 chartties, and is endorsed and recommended by the Charities Commission. The Code aims to help charthes and their tNstees develop high standards of govemance and is intended as a practical tool to help trustees achieve this, and as a tool for continuous improvement towards the highest stsndards. The Board is committed to alignment with the CCJe and enhancing rts performance against the Code on an annual basis. AS: Governance Meetlngs Annual Mem Meetin The Union holds an annual Student Members. meeting once in each academic year which shall be called and held in accordance wtth the Bye-Laws. The annual Studerrt Members, meeting shall te held at such time and place as the Trustees shall think suitable to allow the maximum number of Student Members to attend. For the avoldan￿ of doubt, this meeting shall not be a general meeting of the Union for the purposes of the Companies Act. Roehampton StLwJ8nts' LJnbJn Annual RepJrt aTrJ FknarKial sia¢wThntsfor the Yearen￿ 31 Juty 2023

The Annual Members, Meeting provides an opportunty for the members and partners of the Union to receive copies of the Union's accounts, review information about the Union's activities for the past year and ask any questions about the direction of the Union for the future. The purpose of the Union Council meetings is to act as a foNm for student members to Gome together to discuss matters of student representation, policy posriions and make decisions as outlined in the bylaws of the Union. The Council is open to all full members of the Union but has a quorum speryfied within the bylaws. Executive Ccffimtttee Executive Committee is a regular meeting of the Execuiive Officers (Offlcer Twste8S and other part time officers outlined in the Bye-Laws) outside of Board meetings and is recognised fomial sukxommittee of the Board. The purpose and g0veman￿ arr8ngement8 of the Executive Committee are S￿￿fied within the bylaws. A6: Schame of Delogation r Leade The senior leadership team committee alms to provide scrutiny and monitoring of th8 operational delivery of th8 Strategic plan, the operational plan, and delivery of Ihe Board's priorities and facilitate the day-t(Hlay management of the Charity. Its purpose is to 8nsure sufficient discussion and monitoring for the Charity to function and continually develop and improve its performano. Ima The Union employ8 a Chief Executs've officer (CEO) who has delegated responsibilty for the day-t¢>day runnlng of the organisation. The CEO sits on the Board of Trustees but has no voting rights. Two senior managers report to the CEO to aid 8uch delegated re8ponsibiltties: The Head of Events arKI Marketing is responsible for the organi8ation'8 communications and marketing approach alongside the event delivery function8 of the organisation. The Head of Membership serrf1￿ is responsible for the representation, democratlc events advice seNic88 and student activities dellv8red and facilitated by the organisation. A7: Rola and Contribution of Voluntsorn The Union benefits from the contribution of many volunteers vtho fulfil key unpaid roles in the organisation inGluding but not limited to extemal and student trustees, stud8nt offi￿rS, programme, and sch¢)ol ￿ presentatives. The Union works to implement best practices concerning induction, training, and ongoing Supp￿ wrth is Outlined withln the volunteerfs management policy. Roeh¥npton Studert%' UnKsn Trusteos Amnu81 RetK4tand &aL￿￿n￿ for year ènded 31 Juty 2023

A8: Related Parties Universi of Roeham ton The Edu¢ation Act 1994 requires that the financial affairs of the Union are properly conducted and that appropriate arrangement should exist for the approval of ihe Union budget and the monrtoring of its expenditure by the Board of Governors. The relationship between the Universty and the Union is outlined ￿￿thin the Act and is further enhanced by a jointly signed services agreement, The Union receives an annual bloth grant from the Universty of £612,000 (2022.. £607,500) alongside the provision of beneffts in kind. Such beneffts outlined above are contained within the financial statements arKI are cU￿entlY valued at £50.400 (2022: £50,4Crf)). The Union is dependent on the Universws financial and n0n-finan￿a1 support. Th8 Union has no reason to believe this support or equivalent support will be wtthdrawn in tr foreseeable future. The National Union of Students The Union is an affiliated member of the National Union of Students (NUS) and paid membership contribution of £15.947in the current financial year {2022.' £15,188}. The Ix)ard satisfy the guidance requirements issued by the charity commission in awarding such a grant to a nationally recognised charity. A9: Objèctives, Activities and Rlsk PAanagemont Mana ment prO￿sS The Trustee Board has examined the main strategic business and operational risks faced by the Union. A risk register has b8en established and is f¢xmally reviewed and updated at least quarterfy. Where appropriate systems and procedures have been established to mitigate the risks that the Union faces and these are periodically reviewed to ensure that they continue to meet the needs of the Union. Risks The key risks that V￿re id8ntffied for the 2022r2023 finanaal year were as follows.. Risk Miti ation in PlacelDevelo Block grant Inc￿aSe set lower than ment University scale increases placing pressure CEO monitors expenditure and bids for on sustainability of Servi￿$. add￿Onal contribution funding from th8 Universty to cover shortfall in budget i resource available. CEO and Universtty Director of Finan developing a five-year financial strategy to address deficit, reserves, income generation, pay benchmarking, cash mana ement and ca ital ex nditure. Cost controls applied across all budgets, freez8 non-essential vacancies and a Financial Strategy developed in 22123 will supFort future planning and budget forecastin income generating functions resumed in 2021122 and are full rational. RSU fails to meet its financial plan targets for reserves. RSU sees large increases in costs that are largely unGorrtrollable (inflation). Ongoing Financial impad of COV]D-19 Commercial Income & Ex enditure . Rceharrwtoo Students. Union Trnst*s Annual R4K)rt Fts)anoal Ststvnents for the yaar ond•J 31 July 2023

Expenditure Controls apFlied to events oduction and vacanc freezes in lace. Staff working groups estsblished to listen and refiect employee voice on matters relating to EDI, Environmental Sustainabil" and Cost of Lwin HR polies and staff handbook exist and will be reviewed with extemal consultancy support in 2022123 to align with best ra¢tice Pay tenchmarking exercise as part of a financial stralegy to assess sustainable pay scales and growth Cost of Living impacts rwatively impads staff morale, retention and recruitmert Human R8sources and staff management and development practices are not fft for purpose. Pay structures and current scales are no longer appropriate. risk bad feeling amongst staff or unmanageable Gost increases. Peopl&related conftict and grievances are aired publicly which are defamatory to the RSU. Sabbattcal offi￿[5 undergo comprehensive induction. training, and support programme, are supported by CEO wtth fortnightly 1-1 s and 3-1 meetings. HR policies are outlined to ensure such matters are handled within scope of due process and with extemal consultancy support as required. HR policy review in 22123 will strèn hen RSU'S rO￿dural a roach. CEO and officers to monitor ongoing position NUS has in relation to ontral govemment and utilise regional nelworks as communtiies of practice and for national develo ment. SLT conductir@ a review of Summer Ball and commercial events programme in 22123. Failure or decline in NUS, its politics and opèrations, endangers RSU'S interests. Everrts, including Fresherfs and Summer Ba51 is cancelled or misses its income target asi nificant amount. A10: Publlc Benefft The Truslees consider this matter, in conjunction with the guidance contained in the Charity Commission's general guidan￿ on public benefit. As a registered charity RSU supports and works with circa 13,000 students who register to study at the Universty of Roehampton and all of whom Can directly benefrt from the work of the Union. In planning our work, we test that the strategy and the primary goal of all our adivities are linked to our core airns and therefore are for the direct benefft of our member students. The Truste8s confim Upt they have complied with the duty in section 4 of the 2006 Charities Act to have due re9ard to guidance publ￿hed by the Chartty Commission regarding Public Benefrt. Charitable Ob'ects The objects of the Union are the advancement of the education of students at the Universty of Roehampton for the publi¢ benefft by: 1. Promoting the interests and wetfare of studènts at the University of Roehampton during their course of study and representing, supporting. and advising students. 2. Being the recognised representative Channel between students and R￿haMpton University and any other exlemal bodies. 3. Providing social, cu￿Ural, sporting, and recreational activities and forums for disGussions and debate for the personal development of rts students. Roehaftwon Stud•nts' Unlon Tn885 Annual RW and Fmanci•l Stat￿ts fortP yearended 31 Juty 2023

Section B: Trustees, Annual Report B1: Our Stratsgy 2022123 is the first full year of our new strategy. We have set some ambitious objectives that are challenging and powered by our values. We are inspired by our student officers, leaders, and volunteers and have a passion for student representation, empowemient, inclusivity, and support. We telieve that by meeting these objectives, students will benefit and be thriving in the very best university experieno at Roehampton. Our Mission The mission of the RSU is to represent. support, and develop students from all backgrounds at Roehampton and enable them to have the best possible university experien￿. Our Vlsion The vision of RSU is to (xeate a truly indusive communty and an environment where students at Roehampton can thrive. Our Values The values of RSU are: Approachable: To be student facing and support students, Whe￿Ver they are. Empowering.. To provide students with the means to shape and ovm their experience. Representative.. To anchor a true reflection of Roehampton students in our deeAsions and actions. In¢lusive.' To recognise peop18 and their perspectrves, and to pursue equal opportunities for everybody. Passionate.. To care about what we do and show rt through action. Fun: To be in the moment and savour it together. Stratsgic Priorities 1. Stud&nt Voice." RSU will effectively communicate the needs of students from all backgrounds to challenge the university to deliver an outstanding student 8xperience. 2. Student Developm8nl and G(FCreation.' Studerrts will have access to high-qualify opportunitr?s which build Gonr￿ence and Iruly aod value to their universty experience. 3. InGIusivty and Belonging.. RSU facilitates a sense of telonging across the university and empowers students to be socially responsible and conscientious Gitiz6ns. 4. Supporting Students.. RSU will provide effective and ac￿Ssible services for students, and work in partnership with the university to ensure support is available when and where students need it. Core Foundatlons 1. Operat￿S & People: Our systems, processes and Pro￿dureS will be a¢￿SSIble and easy to use by everybody. We will seek and adopt best practice to ensure what we do is relevant, relatable to students, and effective. We wll commit to support, nurture, and develop our people to help them reach their potential. 2. A Responsiblè Students, Union.. The systems that support our govemance will be robust, transparent. and enable effective decision making by our twstees. We are committed to environmental, socAal, and financial sustainability and will embed policy and procedures to preserve these commitinents. We will communicate with students Rrhampton st￿lent5. Uftion T14th88 Annual Rek)rt and Fmarwl SlatW￿ forthe yèarended 31 2023

proactively to keep them infomed, honestly, and with factually a¢curate infomation when reporting our impact. 3. Relationships.. We will implement and build on a r￿ relationship and services agreement vrith the university. Develop partnerships at all levels across the university to incr6ase our reach and awareness of our mission. We will engage our local and wider community to share our impact and seek opportunities for students. B2: Our Impact- Achlovoments and Perfomian¢e en Focus: 202212023 KPI: 202212023 ctual: 0% arfance: Student reps feel empowered to make chan students recognise RSU having an act External democracy review Contested election positions oler turnout RSU NSS score ompleted ompleted 34010 ne op Quartile Bottom Quartile ree nl Focu8: 202212023 KPI: 202212023 ctual: 5% orlan￿. Involved students feel they have th• skills needed olunteer management plan raduate employment premium Students feel training increases confidencelskills 50% ompleted ompleted 9% one 90/0 30 Inclusiv an Focus: 202212023 KPI: 2212023 ctual: 59% 12% arfancg: Feeling of belonging Involvement In student groups (none auto enroll) wareness of RSU sustainabilty sition RSU spaces are safe, fun, and indusive 1% 10% 9% 9Yo 78% 38010 ortin Stude Focus: 202212023 KPI: 02212023 ctual: ompleted arianco: dvi￿ CMS system implemented Completed or Roeharrwon SttJd8nts' Union Tntstee5 Amnual Repjrt 8rKI Financial Statwnents forthe yearended 31 Juty 2023

University data transfer accurate dvice Cent￿ accreditation ompleted hieved ompleted Near Completion None light RSU is highly visible, approachable, nd helpful RSU impact on student experience 60% 50% 40 B3: Our Impact- Key Highlights rea of Operation cademic Representation chievements 268 programme reps recwrtedlsupported. 97 programme Reps completed provided training. 7 School reps recwited, trained and supported. 6 School rep forums held. 57 candidates. 21 FA)sitions were filled. with 10 being contested. 8% student parti￿patiOn. No fomal Gomplaints received. 24 events delivered. 11,010 student member website activations. Overall 6,673 attendees at events. 6.559 social media followers. 70 unique volunteers engaged. 1241 volunteering hours delivered. 490kg of food producedf796 eggs laid on campus. 780k reduction in C02 due on campus production. Helped students build connectionslsupportèd. Helped students get the most out of their degree. Put money back in students, pockets. Ensured students were infom)ed and updated. 339 unique student re￿Iving advice. 93 additional advice enquires received. Social policy support provided to officers. Extemal service accreditation near completion. 34 active stu(fenl le(1 groups. 9,937 total members including academic groups. 126 committee memtefs SUPPOrted and trained. Minimum of bmo a¢tivtlieslevents per grtyjp. 8 studerrt council meetings facilitated. 1 student executive ￿mmIttee meeting fa¢ilrtated. 8 policy proposals submitted16 passed. 27 part time ¢)fficèrs supported. Elections Engagement Growhampton Sabbatical Offitsr Ins Student Advi Studant Groups Student Voice 10 Ro8hampkn Students, Un￿) Tntstse5 Anftual R8pM and FinarKyol &at*n8ftts for the y8arended 31 Juty 2023

Section C: Financial Review and Future Plans C1: Future Plans In addition to financial suitabilty, comprehensive service review and and culture enhancements the Union's priorities over th8 202312024 financial year as follows. RSUS han irations piratlon Members can find th￿r place though RSU Key Perfornlance Moa8uro 5% of members engage with RSU Completion une 2024 Improved accessibillty and reduced act of time ove Members can deliver change through RSU 10% improvem8nt in the RSU big uprfe % of members feel they can make an e throu hRSU une 2024 une 2024 Key Outcomes to D•llv•r Change Asplrntlons nfin th lace utcome he digitisation of RSU 8ep4ices Key P•rf0m1an￿ Measurn 0% satisfacts'on with RSU digital ervices O active Student groups 1000 un￿ue member engagement omplatlon June 2024 Development of student groups Celebrating and reviewing communty activities February 2024 May 2024 ved utcome Rewarding the time and dedication of members who lead Securing a modernlhybrbd leaming roach for members reation of multi purposes Spaces on cam us Key Porfornianco Measur• % of volunteers achieve olunteerin award University pledge 750A of das8rooms ill have h brid abil- Every srte to have at least one space Compl8tlon May 2024 March 2024 une 2024 hro hRSU utcome embers engage in the local and national elections Democracy review recommendations implemented Community organising model lemented for campaignin Key P•rfomian¢e Measure Ooh of members eligible members istered to vote 11 recommendations approved and lemented Nine active liberation networks stablished and aGtive omplotlon pril 2024 ay 2024 March 2024 Roehampton Stw18nts' Unknn T0J￿ees AmnLk41 Re[￿ and FinwKlal Statwnent8for the year ended 31 July 2023

C2.. Principal Sources of Funding The principal source of fijnding was the block grant from the Universty of Roehampton of £612,000 (2022.. £607,500). Total income was £1,038.602 (2022.. £994,489) and expe￿iture was £1,153.694 (2022.. £1,082.126). Income from charrtable activities, exduding ctubs and societies restricted funds, wa5 £295,038 (2022.. £285,047). Benefits in kind received by the University were valued at £50,400 (2022.. £50.400). The Union received restricted grants totalling £62.223 (2022: £67,878). This resutted in a net deficit at the balance sheet date on unrestrlcaed reserves of £588,192 (2022- £475,690). The deficit was a resu￿ of Underperforman￿ of events £99,653 (2022 £93,817) and the Hive Café £26,461 (2022 £22.691), and the trustees recognise the need for a fundamental review of such operations which has been actioned during the 202312024 financial year. C3: Remuneration Staff salaries and rewards are set by the board. The salaries are set by benchmarking against other SU roles. allowing for a LorKlon wewhting. The salaries are approved as part of the budget apwoval pr￿ss. In place of the Union holding its pay review consultation and prO￿S$, it makes a cost4)f- living in¢rease in line with that agreed upon by the Universty for their staff team and provision made within the block grant settlement. The CEO salary is deeAded upon by the Trustee Board and any changes (other than the standard Gosl of living rise applied to all staff salaries) are explicrtly discussed and approved by the Trustee Board. C4: Pensions The Union automatieglty onrol$ amployees that meet age an(1 pay thresholds onto the People's Partnership scheme wrth an employer contribution of 10%. Employer Contributions to the scheme totalled £33,345 {2022." £29.579). C5: Reserves Pollcy As a resutt of the deficit made during the year, the Union's reserves continue to be in deficit at £560,112 {2022'. £450,420). The University has given the Union assurance of ongoing funding to operate alongside a long4enn agreement on the ￿paYment of amounts due from the Union to them. The ￿Jard it taking active measures to address the financial p8rfomian¢e of the Union to ensure it is sustainable moving foThvard. C6." Going Concem The Union is reliant upon ongoing finanual support from the Universty and the Trustees have received sufficient ￿assuran￿ from the Univ8rsty that such fijnding will Continue at an adequate level for the Union to continue to operate. The Trustees have a reasonable expectation that the Union has adequate resources to continue. For this reason. the Trustees continue to adopt the going concem basis in preparing the accounts. 12 Rceharn￿ Studerts. Vnbj TFwt8es Annual Re￿rt 8Tr3 FinarKial StaternMtsfor the ye2r enr18d 31 Juty 2023

C7: Fundralslng The Union does not seek donations from the public arKI did not use any professional fundraisers during the reporting year, nor has it sNJned up to any voluntary codes of conduct regarding fundraising. No complaints were received by the Union during the year regarding its fundraising practices. The Union makes use of its extsting safeguarding policies when raising funds. C8: Statement of Trustees. Rosponsibiliti The Trustees (who are also the directors of the Chartty for the wrposes of company law) are responsible for preparing the Trustees. Report and the financial statements in accordance with applicable law and United Kingdom Accounting Stsndards (United Kingdom Generally Accepted Accountin9 Practi￿). Company law requires the Truste88 to prepare financial statements for each financial year. 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 Charty and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial ststements. ts Trustees are required to: 1) Select surtable accounting policies and then appty them consistently. 2) Observe the methods and principles of the charit￿8 SORP (FRS 102). 3) Make judgments and accounting estimates that a￿ reasonable and prudent. 4) State whether applicable UK Accounting Standards (FRS 102) have been followed. subject to any material departures disclosed and explained in the financial statements. 5) Prepare the financial statements on the going concem basis unkss it is inappropriate to presume that the Charity will continue in business. The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Charity's transactions and disclose with reasonable accuracy at any tim8 Ihe financial position of the Charity 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 Charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. C9: DlsGlosure of infom)ation to audltOTS Each of the persons who are Truste88 at the ts.me when this Trustees, Report is approved has corfimied that". So far as that Trustee is aware, there is no relevant audit infonnation of which the Charity's auditors are unaware, and. That Trustee has taken all the steps that ought to have been taken as a Trustee in order to be aware of any relevant audit infomation and to èstablish that the charity's auditors are aware of that information. Auditor3 The auditors, Goodman Jones LLP. have indicated their willingness to continue in office. The designated Trustees wll propose a motion reappointing the auditors at a meeting of the Trustees. Reehafr4ton Students, Union Tru* Annual ReF￿rt Financial Stotenwnts lorthè ￿0t ended 31 Juty 2023 13

Approved by order of the members of the board of Trustees and sigrEd on their behatf by: Amy Hopklns Pre8ldent 14 Roetk9mpton Sithnts, Unlr) TnJstsAnnual Report4ThI Flrtan￿ SXat&rths for the year*ndgJ 31 Juty 2023

ROEHAMPTON STUDENTS. UNION IA Company Llmlted by Guarnntse) INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF ROEHAMPTON STUDENTS. UNION Oplnlon We have audited the financial stalements of Roehampton Students, Unlon (the 'charilab18 companv) for th8 year ended 31 July 2023 which comprise the Statemenl of Financial Activities, the Ba5ance Sh8e[ the Statement ol Cash Fbws 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 Unsted Kingdom Accounting Standards, including Financial Rewrting Standard 102 'The Financial Rewrting Standard applicable in the UK and Republ￿ ol I￿land, {Unrted lQngdom Generally Accepted Accountin9 Practu). In our opinion the financlal Statements.. give a true and fair view of the state of the chanlable companls affairs as at 31 Juty 2023 and of its incoming resources application of resources, including its income and expenditure for the year then eni5ed,' have téen proprty prepared in ac£ordanc8 Wth United lfjngdom Génerally Accepted A¢￿UntIng Practice., and have been prépared in accordance wfth the requirements of tho Companios Act 2006 and the Charities A¢t2011. Ba818 for oplnlon We conducted our audtt in aco)rdance Intemational Stsndard8 on Audi￿ng IUKI {ISA$ IUK}l and applicable law. Our responsibilities under those stsndards are fvrther described in the Auditors, responsibilities for the audit of the financial ststemenls section of our repJrL We are indepèndent of the charitable company in accordance with the ethical requlrements that are relevant to our audit of the financial ststements in th8 United Kingdom, including the Financial Reports"ng Council's Ethical Stsndard. and we have fulfilled our other elhical responsibiliknes in accordan¢e with these requirements. We believ8 that the audit ev￿enCe we have obtained is sufficient and appropriate to provide a basis for our opinion. Conclu•lon r•l•tod to golng con¢•rn In auditsng the financial ststements, we have concluded that the Truste08' use of the going concem basis of accounting in the preparation of the financial stalements is appropriate. Based on the work we have performed, we have not Kjentffled any material uncertainties relating to events or conditKsn$ that, individualty cff colthtively. may cast Sl9nrficant doubt on the charitable companys ability to continue as a going concem for a peri(NJ of at least ￿1ve months fr￿ when the financial stslements are authorised for issue. Our respongibilibes and the responsibilities of the Trustees Vlth resFrft to going Con￿rn are described in the relevant seclons of this report Page 15

ROEHAMPTON STUDENTS. UNION (A Company Limlted by Guardntee) INDEPENDENT AUDrroRS' REPORT TO THE MEMBERS OF ROEHAMPTON STUDEKfs' UNION (CONTINUED) Other infomiation The other infomation comprises the informatf.on included in the Annual Report other than the financial statements and our Auditors. ReFQrt therwn. The Trustees are responsible for the other information contained thin the Annual Report. Our opinion on the finanaal statements does not cover the other information and, except to the extent otherwise explicruy stated in our rerxsrt. we do not express any fom of assurance conclusion thereon. Our responsibilty to read the other information and, in doing so, Consider whether the other information is materially inconsistent the financial statements or our knowledge obtained in the course of the audit, or othe￿ise appears to be materialty misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to dete￿ine whelhei this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have perfomie(J, we conclude that there is a material misstslement of this other information. we are required to report that fact. We have nothing to report in this regard. Matters on which we arn required to report by ex¢option We have nothing to report in resFect of the follow7ng rnatter5 where the Charibes (A￿nts and Reports) Regulations 2008 requires us to report to you rf. in oijr opinion." the information gN8n in the Trustees. Report is 1nwnS￿ent in any material respect with the financial statements", or sufficient accounting records have not been kept or the financial slatemellts are not in agremenl wrth the accounting records and relums.. or we have not r￿￿ed all the information and exF4anations we require for our audit Responsibilities of t￿￿tee8 As explained more fulty in the Trustees. ResFonsibilibes StatemenL the Trustees (who are also the directors ol the chantable compar*y for tho purp￿8 of compony lawl are responsiDle tor me preparation of the financial statements and for being satisfied that they gwe a true and fair view, and for such internal ￿ntrol as the Tnjstees determine is ne¢e5sary lo enable the preparation ot finanaal statements that are free from material misstatement, whether due lo fraud or error. In preparing the financial statemenls, Ihe Trustees are responsible for assessing the charitable company's ability to continue as a going concern, disclosing, as applicable. matters related to going concem 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 realisb"c attemative but to do so. Page 16

ROEHAMPTON STUDENTS. UNION IA Cornpany Llmited by Guarantee) INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF ROEHAMPTON STUDENTS. UNION {CONTINUEDI Auditors. responslbilities lor the audit of the financial statements We have tseen appointed as auditor under section 144 of the Charibes Act 2011 and retx)rt in accordance wrth the Act and retevant regulat￿n$ made or having effect thereunder. Our objectives are to obtain wsonable assurance about whether the financial ststements as a whole are free from material rnisstatemenL whether du8 to fraud or emr, and to issue an Auditors. Report that includes our opinion. Reasonable assurance is a h￿h level of assuran￿, but is not a guarantee that an audit conducted in accordance with ISAS (UK) ￿11 a￿ayS detect a material misststement when it exists. Misststements can arise from fraud or error and are considered material rf. indNKlualty or in the aggregate, they could reasonably be expected to inffluen￿ the econom￿ decisions of usefs taken on the basis of these financial statements. Irregularities, including fraud, are instances of non-compliance vrith laws and regulations. We design procedures in line with our ￿pOnsIbl1rties, ouoined at￿Ve, to detect material misststements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irrwJularf(ies, including fraud is detsiled bel(M. Based on our under5tsnding of the company and industy. we identified that the principal risks of non- compliance with laws and regulations rdated to industry sector regulations and unethical and prohibited business practices, and we considered the extent to whth noncomplian￿ might have a material effect on the financol ststements. We also considered those laws and regulations that have a direct impact on the preparation of the financBI statements such as the Companies Act 2006. Charities Act 2011, Charity Commission and sector regulations, and UK Tax Legislation. We evaluated management's incentives and opportunities for fraudulent manipulation of the financial statemenls (including the risk of override of controls). Appropriate audit procedures in response to these risks were carried. These procedures included.. Discussions with management, including ¢ons¥Jeration of krthvn or SUSFe¢ted instances of non-compliance with laws and regulabon and fraud". Reading minutes of meetings of those charged with govemance,. Obtaining and reading correswndence from leg￿ and regulatory bodies including HMRC.. Identifying and testing joumal entries.. Challenging assumptions and judgements made by management in their significant accounting estimates. We also communicated ￿levant identified laws and regulation5 and Fthntial fraud risks to all engagement team members., and remalned alert to any indicaknons of fraud or non-compliance with laws and regulations throughout the audit. There are inherent limitations in the audit Pr￿edureS described above and the further removed non-complianee with laws and r￿ulationS is from the events and transactions reflected in the financk41 statements, the less likely we would become aware of it. Also, the risk of not detecting a material misstaternent due to fraLsd is higher than the risk of not detecting one resU￿'ng from error. as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations, or through collusion. A further deSCript￿n of our responsibil￿e$ for the audii of the financial statements is located on the Financial Reporting Council's website at.. www. .or .ukJauditorsres nsibilib"es. This descripts.on fomis part of our AuditOTS' ReporL Page 17

ROEHAMPTON STUDEPKS. UNION {A Company Limlted by Guarante•) INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF ROEHAMPTON STUDENTS. UNION ICONTINUEDI Use of our report This report is made so181y to the Charitab￿ cx)mpanYs trustees. as a body, in accordance with Part 4 of the Charrlies lAC￿nts and Reports} Regulations 2008. Our audit work has been undertaken so that we might state to the charitable company's trustees those matters we are required to state to them in an Auditors, Report and for no other purpose. To the fullest extent pemrtted by law. we do not a￿p1 or assume responsibility lo anyone other than the charitable company and its members, as a body, for our audit work, for this reporL or for the opinions we have formed. Goodman Jone8 LLP Chartered Accountants 29130 Frtzroy Square London W1T6LQ D81e.' Goodman Jones LLP are eligibie to act as auditor5 in temis of sectron 1212 of the Companies Act 2006. Page 18

ROEHAMPTON STUDENTS. UNION (A Company Llmited by Guarant•ol STATEMENT OF FINANCIAL ACTIVITIES IINCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 JULY 2023 Unrnstrlcted funds 2023 Restricted funds 2023 Total funds 2023 Total funds 2022 Not• Incorno from: Donations and legacEs Charitable activities Other trading activities Investments 600,357 295,038 $6,356 136 62,223 24.492 662,580 319,$30 56,356 136 675. 778 311,447 7,248 16 Totsl Income 951,887 86,715 1,038,602 994,489 Expenditure on: Charitable activsbes 1,064,389 89,305 1.153,694 1,082,126 Total expendlturn 1,064.389 89.305 1.153,694 1,082,126 Net movement In funds (112,502) 12.5901 1115,092} (87,637) Reconciliation of fund$: Total funds brought forward Net movement in fvnds 1475.6901 {112,502) 25,270 {2,590) 1450,420) 1115.0921 (362, 783) (87,637) Totsl funds caffitd forwanl ($88,192) 22,680 1565,5121 (450,420) The Ststement of Financsal Acb"vibes includes all gains and losses recognised in the year. The notes on pages 23 to 38 fomi part of these financial slatements. Page 19

ROEHAMPTON STUDENTS. UNION (A Cornpany Llrnited by Guarantee REGISTERED NUMBER: 07323081 BALANCE SHEET AS AT 31 JULY 2023 Note 2023 2022 Flxed assets Tangible assets 12 16.599 22,977 Current assets Stocks Debtors Cash at bank and in hand 16,599 22.977 13 14 1,069 43A25 188.929 15.201 75.164 233.423 Creditors.. amounts falling due wrthin one year 90,365 15 {815.534 (563. 762) Net current liabiliU8s (582,111) (473,397) Total assets less cuttent liabiliti06 (565.512 (450,420) Net liabllities excluding penslon asset Total net assots 1565,$12} (450,420) 1565,5121 (450.420) Charlty funds Restricted funds Unrestricted funds 16 16 25,3TO (475.690) 1588.192 Total fund8 1565,512} (459.420) Page 20

ROEHAMPTON STUDENTS. UNION IA Company Llmited by Guarnntse} REGISTERED NUMBER: 07323081 BALANCE SHEET (CONTINUED) AS AT 31 JULY 2023 The entity was entiued to exempts.on from audit under sectffi 477 of the Companies Act 2006. The members have not required the entity to obtsin an audit for the year in question in accordance with sectlon 476 of the Companies Act 20Cé. However, an audit 1$ required In accordance with section 144 of the Charfles Act 2011. The Trustees aeknowledge their responsibilities for comptying wlth the requirements of the Act with respect to accounting records and preparation of financh?I statements. The financial statements have been prepared in accordance with th8 provisions applicable to entltles subject to the small companies regime. The financlal ststements were approved and aLrthori8•J for issue by th8 Trusteès and signed on their behalf by. Amy Hopkln• President Date.oty lo11￿11+ The notes on pages 23 to 38 fom part of these flnarthl statements. Page 21

ROEHAMPTON STUDEpifs' UNION (A Company Limlt•d by Guarantse) STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 JULY 2023 2023 2022 Cash flows fmm operating actlvitles Net cash used in operating ath"vtties 115,584 (67,232) Cash flows from invostlng activltr Interest Purchase of tangible r￿ed assets 136 (1,955) 16 (18, 821) Net cash used In investlng oetivlties 11.819) 118,805) Cash flows from flnancing actlvitie6 Nat ca8h provid&d by financlng activitl•s Change in cash and Cash equivahnts in tho year Cash and cash equNalents at the beginning of the year 113,765 75.164 (80,0371 155,201 Cash and cash equivalents at the end of the y&ir 188,929 75,164 The notes on pages 23 10 38 form part of these fir￿n¢la1 statements Page 22

ROEHAMPTON STUDENTS. UNION IA Company Limited by Guarantse NOTES TO THE FINANCIAL STATEME1￿$ FOR THE YEAR ENDED 31 JULY 2023 G8n•ral infomialion Roehamptr)n Students, Union is a registered charity and a o)mpany limited by guarantee incorporated in England and Wales. The registered Offi￿ is Lawrence Building Froebel College, Roehampton Universrty, Roehampton Lane, Roehampton, London SW15 5PJ. The Charitys objects are the advancement of the education and promotion of the welfare and interests of students at Roehampton Universty. Accounting pollcies 2.1 Basb of preparation of finan¢lal statements The financial ststements have ￿en prepared in accordance wth the Charits'es SORP IFRS 1021- Accounting and Reporb"ng by Charitses: Statement of Recommended Practice applioable lo charities preparing their accounts in accordan￿ with the Financial Rewrting Standard applicable in the UK and Republic of Ireland IFRS 1021 {effective 1 January 20191. the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 1021 and the Companies Act 2006 Roehampton Students. Union meets the definitson of a public benefit entity under FRS 102. Assets and liabilities are inity.alty recognised at histo￿1 cost or transaction value unless otherwise stated in the relevant aCc￿untIng poliy. These financwl ststements ar8 presenb# in steding. the functional currency of the Charty, and rounded to the nearest £. 2.2 Company status The Charity is a company limited by guarantee. In the event of the Charity being wound up, the liability in reSp￿t of the guarantee is limited to £1 per membef of the Charity. 2.3 Golng concem The Charty has a net liabilrties p0S￿On as a result of a loan from the University and thus is reliant upon financial support, in the fom of the block and other grants and donated seryices, provided by the Universty to fund its activrties. The 2023124 block grant from the Univers"ty has been agreed and there a￿ no indicatsons that funding and ongoing support will not continue to be provided as the University has given the Union assurance that such fvnding bvill contsnue at an adequate level for the Union to continue to OF*rale at current levels. The TTUStees have reviewed the level of expenditure and have reduced costs where possible and appropriate. and wll cnntsnue to do so. The Trustees have prepared budgets and ft)recasts, and continue to revise these as further information becomes available. After making the appropriate enquires. the Trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for thè foreseeable fLrture and consider that Ihere is no mateTial Un￿rtaInty regarding the Charity's ability to conb.nue as a going concern. For this reason they continue to adopt the going concern basis in preparing the accounts. Page 23

ROEHAMPTON STUDENTS. UNION (A Company Llmited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2023 Accounting policies (contlnuedl 2A Fund accountlng General fvnds are unrestrKAed fvnds vthich are available tor use at the discrekn'on of the Trustees in fvrtherance of the general objectives of the Charity and which have not been designated for other purposes. Restricted fvnds are fiJnds which are to used in accordance with specrfic restrictions imposed by donors or which have been raised by the Charity for parbcular purp)ses. The costs of raising and administering such funds are charged against the specrfic fund. The aim and use of each reslricled fund 1$ set out in the notes to the financial ststsments. 2A Income AJI income is reccgnised On￿ the Charity has enlillement to the income, tt is probable that the inwme will be received. arKJ the amount of incorne recewable car be measured reliably. Voluntary income includes grants and donations and is recognised in full on the basis of entitlement. Grant income is re(x)gni5ed once the above crlteria have been met. tO9ether with any performance conditions attached to the grant. Grant income receNed is deferred only when the Chanty has yet to fulfil the performance condrbons. Subventron income represents the blcrk grant received from the Untversty of Roehampton {RU) in respect ofthe ornponding academic year. Income from chartiable activrttes includes providing goods and services to members. The income 1$ recognised in full on the basis of entit￿Ment and is stated after discount and VAT where applicab￿. Income from ftjndraising includes hire of facilities, marketing and sponsorship. The income is recognised on the accruals basis. Donated serviw or facilitres are recognised when the Charity has control over Ihe item. any condits.ons ass(Kiated the donated item hav• beon met th& receipt of e¢onomi¢ beneflt frorn the use of the Charty of the item is probable and that econom￿ benefrt can be measured reliably. On receipt. donated profess￿nal services and faalitEs are recognised on the basis of the value of the gift to the Charity which is the amount rt would have t)een willing lo pay to obtain services or facilities of equwalent economic benefit on the open markeL" a corresFx)nding amount is then recognised in expeTrJiknre in the pericrfj of receipt Income tax recoverable in relation to investsnent income is reccyJnised al the time the investment income i receThia￿e. 2.6 Intgre81 receivabl& Inte￿st on funds heid on deFQSit i8 inclLKled when r￿1Vable and the amount can be measured reliably by the Charity., this is nomialty upon notrf￿at￿n of the interest paid or payable by the institution with whom the funds are deposited. Page 24

ROEHAMPTON STUDENTS. UNION {A Company Llmited by Guarantso} NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2023 Accounting pollcles leontInu￿} 2.7 Exp•nditure Expenditu￿ is recognised on* the￿ is a legal or ¢onstructfve obligation to transfer economic benefit to a third party, it Is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measur8d ￿lIablY. Expenditure is classified by a¢livty. The costs of each activity are made up of the total of direct costs and shared costs, indudin9 $UPPOrt costs involved in undertaking each xtivty. DIr￿t costs attributable to a single activity are allocated direcuy to that acts'vty. Shared costs which contribute to more than one activity and support costs which are nol attributable to a single ac￿vIty are apportioned be￿et￿ thos8 activities on a basis consistent vAth th& use of resour￿. Central staff costs are allocated on the basis of time srent. and depr8coion tharges allocated on the portion of the assefs use. Expenditure on charitable activths is incurred on directly undertaking the activities which fvrtheT the Chanty's Obl￿tiVes, as V￿11 as any assocthd support ¢08ts. 2.8 Tanglblo flx•d •880ts and dopr•clatlon Tangib￿ fixed assets costing £500 or more are capits1￿￿ and recognised when future economic benefits are probable and the cost or value of the asset can be measured mllabty. Tangible fixed assets are initially recognised at cost After re￿nItiOn, under the cost model. tangible ftted assets are measured al cost léss accumulated depreciatlon and 8ny accumulated impairment losses. All costs Incur￿ to bring a tsngible fixed asset into its intended working condition should be I￿Luded in the measurement of ry)8t D8preciabon is chafged so as to alIC￿ the cost of tsngible fixed ass8ts less their residual value over their estimated u8eful INes, using the stralght4ine method. DepreciatKJn is provided on the fol1Th￿n9 basis: Motor vehicles 25% ￿ c08t Office equipment 25% on cost 2.9 sto¢k8 stocks are valued at the kywer of cost and net realISab￿ valu8 after making due 811owance for obsolete and slow4noving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. 2.10 D•btov• Trade and other debtors are recogni￿ at Ihe setuemnt amount after any trade diSc￿unt offered. P￿paYments are valued at Ihe amount prepaid net of any tsje discounts due. 2.11 Cash at bank and In hand Cash at bank and In hand includes cash and short-temi highly liquid investments with a short malunty of three months or less from the date of wuisitKM or opening of Ihe deposit or similar account Page 25

ROEHAMPTON STUDENTS. UNION {A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMEKrs FOR THE YEAR ENDED 31 JULY 2023 Ac¢ounting policieg {continued) 2.12 Liabilfties and provisions Liabilib"es are recc3nised when Ihere is an obligation at the Balance Sheet date as a result of a past event. it is probable that a transfer of economic tenefit will be required in settlement, and the amount of the setuernenl can be esb"mated reliably. Liabillties are recognised at the amount that the Charty anhcipates it will pay lo settle the debt or the amoltnt it has received as wjvanced payments for the gocJs or servI¢￿S it must provide. ProvisK)ns are measured at the best estimate of the amounts ￿quIred to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discount￿1 at the pre-tax discount rate that ￿fleets the risks specific to the liability. The unwinding of the discount is recognised in the Ststement of Financial Activities as a finan￿ cost. 2.13 FlnaTrcial Instrnmonts The Charity only has financial assets and financial Ikabilibes of a kind that qualify as basic financral instruments. Basie financial instruments a￿ inlbalty recognised at tranS￿"on value and subsequentty measured at their settlement value with the ex￿ption of bank loans which are subwuently measured at amortised cost using the eff￿tive interest meth¢xJ. 2.14 Penslons The Charity operates a defin&l contributton rension scheme and the penskjn charge rep￿sents the amounts payable by the Charity to the in respect of the year. Critical accounting ostlmates and areas of Judgem•nt Estimates and judgements are Continual￿ evaluatad snd gre boBed on hiatorK#l experlenre ana other factors, incllfding exF*Ctatths of ffijture events that are beiieved to be reasonable under the circumstances. Crrtical a￿Unting estimates and assumpb"ons: There are no specific judgements, esb"mates and assumptions made by the Trustees that have a significant risk of causing a material adjustment to the c2trying amourrts of assets and liabilities within the next financial year. Page 26

ROEHAMPTON STUDENTS. UNION (A Company Llmited by Guaran￿) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2023 Incom• Irom donatlons and legacle8 Unrestrlcted Re8trSctsd funds fund8 2023 2023 Total funds 2023 Tot81 funds 2022 Grants Block Grant Growhampton grant Donated servic*d p￿miSeS Subtotsl . gr•nts from Ro•hampton Unlv•r•lty 549.957 549,967 62,043 SOAOO 557.500 60,000 .400 62,043 50,4CrfJ 600.357 62.043 662,400 667,900 Other grants Govemmenl grants 180 180 4,472 3,406 Subtotal- other grnnts and donatlon• 180 180 7,878 600.357 62,223 662,$80 675, 778 Total 2022 607,900 67,878 675,778 Govemment grant income ¢)Jmprises amounts iotalling £nil 12022.. £3,4(%l received under the Coronavirus Job Relention Scheme. Page 27

ROEHAMPTON STUDENTS. UNION {A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2023 Income from ¢harltabl• activiti•5 Unr08trfctod Re8tricted nds funds 2023 2023 Total fund8 2023 rot81 funds 2022 Entertainment Programw Clubs and soc￿ties Cafe Merchandising 135,255 135.255 24,492 148,660 11,123 145,420 26,400 136,714 2,913 24,492 148.660 11,123 295.038 24,492 319,530 311,447 Total 2022 285,047 26,4 311,447 Income from other trading actfvhies Income from fundrdising ovents Unre8tricted funds 2023 Totsl funds 2023 Totsl funds 2022 Medio @nd sponsorshlp 56.356 56,356 7,248 Total 2022 7,248 7.248 Page 28

ROEHAMPTON STUDENTS. UNION IA Company Llmlted by Guarants•) NOTES TO THE FINANCIAL STATEMEKrs FOR THE YEAR ENDED 31 JULY 2023 Inveslmont Income Total lunds 2023 Tot81 funds 2022 fund8 2023 Int8rest income 136 136 16 Tot812022 16 16 Anaty•l• of gxpendlturn on ch•rttabl• •etlvltl Summlry by lund typo Unrn8trktod R￿tr￿ted fund• fund• 2023 2023 Total 2023 Tot81 2022 Student Representalw)n student Activities communi￿￿$ Entsrtainments Welfare Academic Campaigns Growhampton Clubs and Societies New Media- Student Life Hive Cafe 308.286 ,691 34.470 262,141 34.037 169,900 308,288 56.691 34,470 262.141 34,037 189,91)0 252,445 58,911 58,906 291, 859 35,280 124,478 1,603 65, 736 27,003 34 165,871 8,889 62.223 27.082 71,112 27,082 6,268 183.060 6,268 183,C60 1.W,389 89,305 1.153,694 1,082, 126 Total 2022 987.245 94,881 1,082,126 Page 29

ROEHAMPTON STUDENTS. UNION (A Company Llmited by Guarantoe) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDEO 31 JULY 2023 Analysis of expenditure by actlvttie8 A¢tivltlos undertaken dlrectty 2023 Support costs 2023 Total fund8 2023 Total fvnds 2022 Student Representab'on Student Acb'vities Communi¢alions Entertainments Welfare Academic Campaigns Growhampton Clubs and Societies New Media - Student Lrfe Hive Cafe 2*,466 56,691 34.470 262,141 34.037 169,9CKJ 647 71,112 27.082 6.268 183.¢XO 11.820 308.286 S6.691 34.470 262,141 34,037 169,900 252,445 58,911 58,906 291,859 35,280 124.478 1,603 65, 736 27.003 71.112 27,082 6,268 183,060 165,871 1,141.874 11,820 1.153,694 1.082, f26 Total 2022 1,07t.626 10.500 1,082,726 Analysls of support eost6 Student reprosentati on 2023 Total funds 2023 Total funds 2022 AUdit0￿S remuneratKin 11,820 11,820 10,500 Total 2022 10,500 10.500 Page 30

ROEHAMPTON STUDENTS. UNION {A Company Llmlted by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2023 10. Staff costs 2023 2022 Wages and salaries Social security costs Contribution to defined contribution pension schemes 521.968 43.397 481,435 41.235 29,579 S98,708 552,249 During the prior year. the Charity took advantage of the GovemmenV5 Coronavirus Job Retention Scheme, under whith some of the employees were receiving 80% of their pay. The Un￿n made the decision lo top up their pay to 100%. The average number of person$ employed by the Chanty during the year was as follows: 2023 No. 2022 No. Full lime Casual 16 21 16 37 36 No employee received remunera.on amoun*"ng to more than £60,000 in either year. During the year, remuneration. including empknyerfs Nl and Ftnsion contributions. totalling £143,564 12022." £145.545} were incurred in respect of key management personnel. Page 31

ROEHAMPTON STUDENTS. UNION {A Company Llmited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2023 11. Trusteos. remuneration and expengOS Dltring the year, under the prowsions made in the Chantys Conslitulion, 512021." 5) Sabbatical Officer Twslees received remunerats'on in respEct of their employment contract wrth the Union. The value of Trustees. remuneration and other benefits totalled £85.386 {21y22.. £71,034). 2023 2022 Harftson Cohen - PresKlent Remuneration Pension contributions paid Remuneration Pension contributions paid RemuneratM)n Pension contn"butkxs pamd Remunerab"on Pension contributions paid Remuneration Pension contributs"on$ paid Remunerat Remunera 2,205 Pension contributKins paid 200 During the year ended 31 July 2023. expenses totalling £NIL were reimbursed to Trustees (2022- £NIL to O Trustee) 23.674 2,376 25,880 2,596 23.674 1376 2.205 200 Sharon A2ams 2.027 203 2, 124 203 17,872 I, T87 Mushtaq Ismail Laura Johnson o￿Ven Ottaway 22,294 2.230 22,294 Farrah Black Amy Hopkins - President Page 32

ROEHAMPTON STUDENTS. UNION IA Company Llmlted by Guarantse) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2023 12. Tangible fixed assgts Office equipment Motor and fixtures vehlclos & fittings Total Cost or valuation At 1 August 2022 Additions Disposals 11.451 103,142 1,955 {71,063) 114,593 1,955 171,063) At 31 July 2023 11A51 34,034 45A85 Depreciation At 1 August 2022 Charge for the year On disposals 11.451 80.165 8,333 {71,063) 91,616 8,333 171,063) At 31 July 2023 11.451 17N35 28,886 Net book value At 31 July 2023 16,599 16,599 At 31 July 2022 22,977 22,977 Page 33

ROEHAMPTON STUDENTS. UNION {A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMEKrs FOR THE YEAR ENDED 31 JULY 2023 13. Stocks 2023 2022 Merchandise 1,069 14. Debtorg 2023 2022 Duo wlthin one year Trade debtors Other debtors Prepayments and accrued income 38,600 1,303 3,522 6. 164 2.419 6.618 43,425 15,201 15. Creditors: Amounts falling due withln on• year 2023 2022 Trade credit(Ks Other creditors Accruals and deferr&l income 20.067 752.312 43,IS6 30,430 510.000 23,332 815.534 563, 762 Page 34

ROEHAMPTON STUDENTS. UNION IA Company Limited by Guarantee} NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2023 16. Statem•nt of funds Statement of funds- Current year Balance at 1 August 2022 Balance at Income Expgndlture 31 July 2023 Unrestrictsd funds General Funds - all funds 1475.690) 951,887 11,064,389) 1588,1921 Restricted funds Growhampton Clubs and societies 62,223 24,492 (62,223) {27.082) 25,270 22,680 25.270 86,715 (89.305) 22,680 Totsl funds (450.420} 1,038,602 (1,153,694) (565.512> Page 35

ROEHAMPTON STUDENTS. UNION (A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2023 Statement of funds (continugd Statement of funds - prior year Balance al l August 2021 Balance al Income Expenditure 31 July 2022 Unrgstrfeted funds General Funds- all funds 1388,656) 900.211 (987.245) (475,690) Restrlcted fvnds Growhamplon Clubs and societre$ Govemmenl grants 64,472 26,4C 3.406 (64.472) (27.(￿3} (3.406) 25.873 25,270 25,873 94.278 (94.881) 25,270 T¢)tal fund8 (362, 783) 994.489 (1.082. 126) (450,420) Restricted funds compiise the folk)w'rvJ'. Growhgmpton fund - moftieo 9lven ￿ tr]e Charity in order to ftjnd the Growhampton edible campus project. Clubs and societies - the self-raised funds of the Uniijn's vark)us clubs and societies. Govemment grants - income received under the UK Govemmenys fvrioLfgh Kheme in respect to wages and salaries. Page 36

ROEHAMPTON STUDENTS. UNION {A Company Llmlted by Guarantoel NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2023 17. Anatysls of net assets between funds Analysis of net assets btheen funds - curnnt yoar UnrestTl¢ted Rostrictgd funds funds 2023 2023 Totsl funds 2023 Tangible fixed assets Current assets Creditors due vrithin one year 16,599 210,743 {815,S34) 16,599 233,423 {815.534) 22,680 Total (588.1921 22.680 {565,S12) Analysis of not as89ts between funds - prior year Unresti7Cted funds 2022 Restricted funds 2022 Total funds 2022 Tangible fixed assets Current asset5 Creditors due within one year 22,977 65.095 (563,762) 22,977 90,365 (563, 762) 25.270 (475,690) 25,270 (45Q,420) Total 18. Reconclllation of not movement in funds to net cash fl¢)w from operdting actlvities 2023 2022 Net experKlittJre for the year {as per Statement of Financial Activit￿} 1115,0921 f87,637) Adjustments for. Depreciation charges Dividends. interests and rents from investrnents Decreasel{increase) in stocks Decreasellincreasel in debtors Increase1(d￿reasel in creditors 8,333 {1361 11,0691 (28,224) 251,772 6,466 (16) 84,231 (64,276) Net cash pvovided byl{used in) operatlng actlvitl•s 115,$84 (61,232) Page 37

ROEHAMPTON STUDENTS. UNION (A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDEO 31 JULY 2023 19. Anatysis of cash and cash equivalents 2023 2022 Cash in hand 188.929 75.164 Total cash and cash equivalonts 188,929 75,164 Analy819 of Changes In net debt At 1 August 2022 Cash flows At 31 July 2023 Cash at bank and in hand 75,164 113,765 188,929 75.164 113,766 188,929 Pension commltments The Charity operates a defined contributions pension scheme. The assets of the scheme are held separately froFn those of the Charity in an independently administered fund. The pension cost charge represents contributions payable by the Chafity to the fvnd and amounted to £33,345 (2022." £29.579}. Contributions totalling £nil were payable (2022= £nil) to the ￿n￿ at the balance sheet dale and are included in credrtors. Related party transactlons The controlling parties of the Charity are the Trustees ty virtue of their posttion as memebers of the Tnjslee Board. Trustee remuneration and other transactions are disclosed in note 11. The Trustees are the sole members of the charitable company and their liability is limited lo £1. The Chanty receives a substantial part of its income by means of grant funding from the Roehamplon University. This funding amounted to £662,400 12022.. £667,900) of revenue funding in the year under review, which indudes £50,400 {2022'. £50,400} in res￿1 of serVi￿d premises provided. The Trustee Board is of the opinion that this financial assistsnce is not an influen¢ing factor with regards to the fomation of the Charity's ￿1¢Y setting At the balance sheet date, £752,312 {2022." £510.000} was owed by the Charity to Roehampton University. Included within trade debtors is a balance of £17,600 (2022-. £2,838) owed to the Student Union by the Unwersty. Page 38