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← Roehampton Students' Union

2024-07-31-accounts

ROEHAMPTON STUDENTS’ UNION A Company Limited by Guarantee

Registered company 07323081 Registered charity 1139857

TRUSTEES’ ANNUAL REPORT & FINANCIAL STATEMENTS FINANCIAL YEAR ENDED 31 JULY 2024

Contents

Trustees & Students’ Union Information ................................................................................ 2 Board of Trustees’ Annual Report ......................................................................................... 4 Our Impact 2023-24 .............................................................................................................. 5 Financial Review ................................................................................................................. 11 Structure, Governance, and Management ........................................................................... 16 Statement of Trustees' Responsibilities ............................................................................... 18

Roehampton Students’ Union Trustees Annual Report and Financial Statements for the year ended 31 July 2024

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Trustees & Students’ Union Information

Charitable Status

The University of Roehampton Students’ Union (“RSU”) is constituted under the Education Act 1994 and is a Company Limited by Guarantee (No. 07323081) and not having a Share Capital and registered with the Charity Commission (No. 1139857). The University of Roehampton ("the University ", "UoR ") takes such steps as are reasonably practicable to ensure that the Union operates fairly and democratically and is accountable for its finances.

The Board of Trustees 2023-24 (date of appointment)

President (Chair) Amy Hopkins (1 July 2023, resigned 30 June 2024) Vice President Education Laura Johnson (1 July 2023, resigned 30 June 2024) Vice President Welfare Sharon Azams (1 July 2022, resigned 30 June 2024) Student Trustee Sasha Goloborodko (21 February 2023, resigned 30 June 2024) Student Trustee Lynsey Cowlishaw (21 February 2023, resigned 30 June 2024) Lay Trustee Lee Bird (1 July 2020) Lay Trustee Eleanor Wheal (1 July 2020) Lay Trustee Siobhan Kelly (9 December 2019) Lay Trustee Rev. Nicholas Leggett (15 November 2022, resigned 31 October 2023)

The Board of Trustees 2024-25 (date of appointment)

President (Chair) Mohammad Imran Shafiqi (1 July 2024) Vice President Education Irene Reynolds (1 July 2024) Vice President Welfare Adam Fewster (1 July 2024) Lay Trustee Lee Bird (1 July 2020) Lay Trustee (Deputy Chair) Eleanor Wheal (1 July 2020) Lay Trustee Siobhan Kelly (9 December 2019)

Incoming Trustees (date of appointment)

Lay Trustee Shaun McHugh (17 October 2024) Student Trustee Julianna Eldridge (17 October 2024) Student Trustee Anthony Oguchi (17 October 2024) Student Trustee Alabyha Kumar Tiwari (17 October 2024)

RSU employed a Chief Executive Officer to work closely with the Board of Trustees and ensure effective management of the charity as head of a senior management team, listed below:

Chief Executive Officer Michael Bailey (appointed 6 November 2024) Head of Membership Services Nishaant Kumar

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Trustees Annual Report and Financial Statements for the year ended 31 July 2024

Alongside these roles, RSU retains the services of a number of external consultants and advisors to provide strategic support to the charity:

Accountant University of Roehampton - Jonathan Chien Strategic HR Atkinson HR Advisor to the Board University of Roehampton – Jordan Kenny Company Secretary Megan Mannion

Address

2[nd] Floor Lawrence Building, Froebel College, Roehampton University, Roehampton Lane, London, SW15 5PJ

Auditors

Goodman Jones LLP, Chartered Accountants and Statutory Auditors, 1st Floor Arthur Stanley House, Tottenham Street, London, W1T 4RN

Bankers

Barclays Bank UK PLC, 83 Wandsworth High Street, London, SW18 2PR

External Affiliations

Under the Section 22 (2) (k) of the Education Act 1994, the Union is required to report to its members, on an annual basis, all current external affiliations. As at 31 July 2024, the Union was affiliated to the following organisations:

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Trustees Annual Report and Financial Statements for the year ended 31 July 2024

Board of Trustees’ Annual Report

The Trustees present their Annual Report together with the audited financial statements of the Charity for the period 1 August 2023 to 31 July 2024. The Annual Report serves the purposes of both a Trustees' Report and a Directors' Report under company law.

The Trustees confirm that the Annual Report and financial statements 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 accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2019).

Since the Charity qualifies as small under section 382 of the Companies Act 2006, the Strategic Report required of medium and large companies under the Companies Act 2006 (Strategic Report and Directors' Report) Regulations 2013 has been omitted.

About Roehampton Students’ Union

The University of Roehampton Students’ Union (RSU) exists to represent and enhance the lives of students studying at the University of Roehampton (UoR) . Existing as a membership organisation for over 12,000 students, we deliver a range of services, facilities and activities that aim to create a rich social experience driven by student leaders.

As part of a diverse, vibrant, and supportive community, the Students’ Union is committed to representing, supporting, and developing students from all backgrounds. And our vision is to create a truly inclusive community and environment where students can thrive.

Our Charitable Purpose and Public Benefit

Trustees’ statement on Public Benefit:

The Trustees confirm that they have complied with the duty in section 4 of the 2006 Charities Act to have due regard to guidance published by the Charity Commission regarding Public Benefit.

Charitable Objects

The objects of the Union are the advancement of the education of students at the University of Roehampton for the public benefit by:

  1. Promoting the interests and welfare of students 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 Roehampton University and any other external bodies.

  3. Providing social, cultural, sporting, and recreational activities and forums for discussions and debate for the personal development of its students.

As a registered charity RSU supports and works with circa 12,000 students who register to study at the University of Roehampton and all of whom can directly benefit from the work of the Union. In planning our work, we test that the strategy and the primary goal of all our activities are linked to our core aims and therefore are for the direct benefit of our member students, providing Public Benefit to students at the University of Roehampton and delivering our charitable purpose.

Roehampton Students’ Union Trustees Annual Report and Financial Statements for the year ended 31 July 2024

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Our Impact 2023-24

Our Strategy

This academic year has been one of upheaval, challenge, and renewal for the Students’ Union which required a departure from our previously set out strategic plan as we battled to get to financial safety.

Despite that, we remain steadfastly committed to our mission to represent, support, and develop students from all backgrounds at Roehampton and enable them to have the best possible university experience. This continued to be framed against our four strategic themes:

Due to the significant impact of restructuring the Students’ Union’s staff team and services, alongside high vacancy rates, our strategic KPIs were deprioritised with a view to re-baseline our activity and the metrics tracked in 2024-25.

We are however dedicated to measuring, analysing, and describing the impact we have on the lives of our members while studying at the University of Roehampton. To do this, we have measured our impact this year against two different data sources – participation and engagement levels across all of our services, and attitudinal data measured through our annual membership satisfaction survey, The RSU Big Survey – this year we had 573 students complete the survey.

Our Year in Numbers

To give you a snapshot of the work we have delivered this year, here are some of our key numbers:

£898,726 spent on delivering our charitable services, activities and representation for students £643,000 in block grant funding provided by the University 273,181 views of our website £79,276 paid to student staff in salaries 12,139 hot drinks sold in the Hive Café

10,250 votes across our elections including 7978 votes in our main SU Elections 5507 students with a membership to at least one student group 1995 individual tickets sold to our Freshers’ Week events 1676 voters in our main SU Elections, a turnout of 16% 573 responses to our annual RSU Big Survey 550 events supported by the Students’ Union 404 cases opened by our Advice Centre 250 programme reps recruited, trained and supported 241 students gave feedback through our RSU on Tour initiative

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41.2% average open rate of our all student email 119 committee members supported and trained

39 policy proposals to President’s Committee

39 different active student groups on campus 35 candidates standing for election in March 6 President’s Committee meetings facilitated

5 school reps recruited, trained and supported

Our Achievements and Performance 2023-24

Overall

When considering our overall performance as an organisation, we look to understand both the satisfaction students have with the Students’ Union, and the impact we are having on their life at Roehampton.

This was the first year of asking these questions and will form our baseline as part of a longer-term study into our performance. Interestingly, while students are broadly positive about the Students’ Union, this isn’t reflected in the impact we are seen to have on their life – an area we’ll look to interrogate in future. Of particular note, was a large number of responses to our annual survey that answer ‘neither agree/disagree’ which shows that we need to make a concerted effort in communicating our work to students.

Target: 80% of students are satisfied with Roehampton Students’ Union Target: 80% of students are satisfied with Roehampton Students’ Union Target: 80% of students are satisfied with Roehampton Students’ Union
Year % Agree % Definitely/Mostly Agree
2024 75.5 61.2
Target: 80% of students agree we have a positive impact on their life at Roehampton
Year % Agree % Definitely/Mostly Agree
2024 67.7 49.9

Theme 1: Student Voice

As a membership organisation, we need to ensure that we effectively communicate the needs of students to the university.

Target: 80% of students agree we play a positive role in improving the quality of their
educational experience at Roehampton		 Target: 80% of students agree we play a positive role in improving the quality of their
educational experience at Roehampton		 Target: 80% of students agree we play a positive role in improving the quality of their
educational experience at Roehampton
Year % Agree % Definitely/Mostly Agree
2024 73.8 59.2

Democracy Review

In Spring 2023 we began an externally supported democracy review project in consultation with students to analyse our existing democratic structures, investigate if they were fit for purpose, and produce recommendations for change.

Following the completion of this work in Autumn 2023 we moved quickly to begin implementation of the recommendations. The Board of Trustees formally adopted a new set of bye-laws in October 2023 to facilitate the next stage of this piece of work, including the launch of a new policy based forum to replace Students’ Union Council, President’s Committee.

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Academic Representation System

Following a successful funding bid to the University, we changed our model for School Reps, paying these roles for the first time. Alongside these reps, we recruited and trained 250 programme reps to represent students on their courses.

RSU on Tour

RSU President ran a campaign called RSU on Tour in 2023 which eliminated barriers to engagement with the RSU by hosting pop-up stalls around campus throughout the academic term. The idea behind this was to promote RSU services & information to students, by actively engaging students who otherwise may not come to the RSU building.

RSU Elections[1]

This year saw a bounce back for our annual sabbatical officer elections with our turnout doubling to 16%. This was despite a change in the number of roles in the election available for election with part-time officer roles removed from our structure following the Democracy Review.

We are particularly pleased that the number of candidates per role has increased to an average of four with all roles contested. Next year will see another change to our elections following a decision from NUS to alter the way in which NUS Delegates are selected – it is likely that the role of NUS Delegate will be absorbed into the responsibilities of sabbatical officers.

2024 2023
% Turnout 16% 8%
Number of voters 1676 765
Number of votes cast 7978 8485
Number of candidates 35 45

Theme 2: Student Development and Co-Creation

Ensuring students have the opportunity to shape their university social experience is our second theme. It’s important that as an organisation we support the development of student groups and their committee leadership – providing tools and opportunities for participation regardless of their background and identity.

Target: 80% of students agree we provide services, events and activities that are
entertaining and fun		 Target: 80% of students agree we provide services, events and activities that are
entertaining and fun		 Target: 80% of students agree we provide services, events and activities that are
entertaining and fun
Year % Agree % Definitely/Mostly Agree
2024 78.3 62.2

Student Groups

Our student groups continue to play a crucial role in enhancing student engagement, fostering social connections through learning communities, and supporting student wellbeing. They contribute to higher continuation and progression rates for students while providing a safe environment for socialisation and improving mental health.

1 NB. For compliance with section 22(2) (e) of the Education Act 1994: a total of one official complaint was received this year which was not upheld by the Deputy Returning Officer. This was appealed to the Returning Officer who confirmed the original ruling. The elections were confirmed as free and fair by our Trustees, the NUS appointed external Returning Officer Peter Robertson, and Deputy Returning Officer Nishaant Kumar.

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Trustees Annual Report and Financial Statements for the year ended 31 July 2024

By joining or starting an RSU society, students reported feeling more employable, making positive contributions to the university community, and gaining valuable skills. This year saw the trial of a new auto-enrolment scheme into academic based societies following seed funding from the University. This saw the number of students registered as a member in a society dramatically increase to over 5500 (2023: 790) but unfortunately this did not translate into engagement with the individual societies themselves.

We are continuing to develop the work we do in this area and trialling these initiatives are an important part of this journey. Looking ahead, we understand that we need to do more to improve our back of house processes and procedures with a goal of reducing bureaucracy for groups while empowering groups to do more.

Freshers’ Week

The welcome period on campus is an incredibly important stage in a student’s journey at Roehampton. It’s often their first impression of university life, the first time they interact with the Students’ Union, and the first time they are away from home.

We delivered a thriving and diverse programme of events and activities that catered to both new and returning students, engaging over 3000 of them across the week, an increase on previous years.

Our Freshers’ Fair, held on the lawn of Grove House, received highly positive feedback from attendees and served as an introduction for our student groups to potential new members.

RSU Awards

On Friday 24 May the Students’ Union and Roe Sport hosted the RSU and Sports Awards in Montefiore Hall. As a proof-of-concept test, the event was free of charge to attendees with a refundable deposit paid to secure their place while it was also an alcohol-free event for the first time. 144 individuals attended from across campus with the event coming in under budget, with 114 nominations across a range of categories that celebrated the hard work of students across the academic year.

Theme 3: Inclusivity and Belonging

We need to be campaigning on issues that matter to our students and using our unique position to celebrate the range of cultures and identities present at Roehampton.

Target: 80% of students agree we represent them and campaign on the right issues Target: 80% of students agree we represent them and campaign on the right issues Target: 80% of students agree we represent them and campaign on the right issues
Year % Agree % Definitely/Mostly Agree
2024 64.6 47.9

Free University Bus Service

The Students’ Union President successfully lobbied the University to extend the university bus service to Putney Bridge, and following a trial in January 2024, this was fully implemented. This idea started with student feedback to President’s Committee regarding issues they were facing with TfL services being regularly delayed or being overly busy.

Period Poverty

The VP Welfare continued the Period Poverty Project through 2023-24 (carrying over from former Sabbatical Officers). This project continues to run and seeks to give free period products out to all students across campus, and seeks to have products available in all bathrooms across campus.

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Trustees Annual Report and Financial Statements for the year ended 31 July 2024

The VP Education & VP Welfare hosted a range of events for Womens’ History Month in March 2024, including a Paint & Sip event & movie night.

General Election Voter Registration Drive

In the run up to the 2024 General Election, the Students’ Union played a key role in promoting voter registration to students. A major focus for us was on voter ID and ensuring students were aware of the need to have a valid ID document when casting their vote. To support this, we worked closely with NUS on their general election campaign which saw 20,000 free voter IDs given away through their partnership with CitizenCard.

Theme 4: Supporting Students

Contributing to the wider wellbeing of students is a key focus of the Students’ Union especially in the context of a cost-of-living crisis. We should play an active role in improving student wellbeing, supporting their mental and physical health, helping them to make positive housing choices, and helping them to understand the financial context of being a student and the options available to them.

This is always an incredibly difficult KPI due to the nature of this type of work. Those that directly engage with our work in this area, such as the Advice Centre, recognise the impact we have and we face a challenge in communicating this to a wider audience.

Target: 80% of students agree we have a positive impact on their general wellbeing,
housing or finances		 Target: 80% of students agree we have a positive impact on their general wellbeing,
housing or finances		 Target: 80% of students agree we have a positive impact on their general wellbeing,
housing or finances
Year % Agree % Definitely/Mostly Agree
2024 65.4 50.4

Advice Centre

Our Advice Centre is a core part of our work, supporting our members through difficult and challenging circumstances. Our unique position as an independent organisation on campus allows us to give students honest advice and guidance when they may have an issue related to their university experience. We look to support students in staying at university through a range outreach activity, campaign work, and one-to-one advice sessions with a particular focus on academic advice.

This year demand slightly dropped with 404 cases opened by the Advice Centre (2023: 429) although this was the third year in a row where cases had surpassed 400.

We have implemented a triage function through our reception team to support with caseload and signpost students to relevant resources and teams such as the University’s Wellbeing service.

Satisfaction with users of our Advice Centre sat at 88.9% with 76% of users definitely/mostly satisfied with their experience.

Cost of Living Crisis

Students up and down the UK are struggling to afford the basic necessities to help them thrive in their studies. Many students are left having to choose between travelling to university to attend their lectures and seminars or buying food for their next meal. Throughout the year, RSU President, Amy Hopkins, campaigned on issues related to the cost of living.

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Trustees Annual Report and Financial Statements for the year ended 31 July 2024

This included working closely with university colleagues to improve the community fridges available across campus, looking at opportunities across our own café to introduce value offers, and launching the RSU Community Pantry.

Our first donation drive for the pantry saw 118 items donated, diverting 9.5kg of waste from landfill ahead of it officially opening its doors to students in September 2024.

Put money back into students’ pockets

We took steps this year to formalise our approach on employing our members across all areas of the organisation. This year we employed 25 students, and introduced specialist roles into every team, ensuring £73,276 stayed within our membership while those students gained key skills for future employment.

Lobbied successfully for lighting improvements across campus

Following feedback from students that areas of campus were poorly lit, and they found it scary to travel across campus at night our VP Welfare, Sharon Azams, worked closely with the University to map areas of particular concern before presenting this to the estates team.

Thanks to this work, £50,000 of funding was released to improve lighting across campus with a further £50,000 earmarked for release in the 2024-25 financial year.

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Trustees Annual Report and Financial Statements for the year ended 31 July 2024

Financial Review

How Our Finances Look

At the end of 2023-24 the Students’ Union was in a much healthier financial position compared to the start of the financial year with a surplus of c£71k (2023: deficit of £115k). This is a significant improvement on our budget forecast and was driven by a turnaround process aimed at refocusing the Union on its core charitable purpose.

This process of turnaround resulted in a drop in our total income to £970,100 (2023: £1,038,602), primarily driven by a strategic move away from late-night events ticket sales.

Our expenditure was well controlled through the year thanks to the introduce of new financial controls, tighter cost control measures across the organisation, and the introduction of a temporary freeze on staff recruitment and non-essential expenditure. This saw expenditure reduced to £898,726 (2023: £1,153,694).

The overall result as per the Statement of Financial Activity is a net deficit on unrestricted reserves of £518,621 (2023: £588,192). This however requires additional context to be useful for the reader. The Students’ Union has a long-term liability to the University of Roehampton of £736,078 (2023: £752,312) as a result of support given to the Union in previous years. A long-term payment plan is in place which ensures the Union can continue to operate and deliver its services.

Remuneration

Staff salaries and rewards are set by the Board of Trustees following recommendations from the senior management team regarding any adjustments. This year, we removed the separate London weighting from our salary structure and incorporated this into our base pay as part of a move away from the University of Roehampton’s pay scale. These changes allow the Union more flexibility offering remuneration that is competitive within the sector while aligning with our own financial position. The salaries are approved as part of the budget setting process.

The CEO salary is decided upon by the Board of Trustees and any changes (other than the standard cost of living rise applied to all staff salaries) are explicitly discussed and approved by the Board of Trustees.

Pensions

The Union automatically enrols employees that meet age and pay thresholds onto the People’s Partnership scheme with an employer contribution for new entrants of 3%. Employer contributions to the scheme totalled £32,030 (2023: £33,345).

Reserves Policy

As a result of the surplus made during the year, the Union’s reserves have improved but remain in deficit at £494,138 (2023: £565,512). The University has given the Union

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Trustees Annual Report and Financial Statements for the year ended 31 July 2024

assurance of ongoing funding to operate alongside a long-term agreement on the repayment of amounts due from the Union to them.

Future Funding

The Board of Trustees confirms that RSU has sufficient funds to meet all its obligations. The Block Grant for 2023-24 has been confirmed at £710,000. The Union's commercial outlets are also expected to generate funds to support our on-going activities.

Fundraising

The Students’ Union does not actively seek donations from the public and did not use any professional fundraisers during the reporting year, nor has it signed up to any voluntary codes of conduct regarding fundraising. No complaints were received by the Students’ Union during the year regarding its fundraising practices. The Students’ Union makes use of its existing safeguarding policies when raising funds.

Going Concern Statement

During 2023-24 the Students’ Union undertook a recruitment freeze and a non-essential expenditure freeze to ensure we had adequate levels of free reserves with which to meet our obligations in terms of service delivery, workforce, and long-term strategic planning.

This was against a backdrop of significant challenges within the higher education sector, but despite this, we believe we have strengthened our financial position. We have built a stronger relationship with the University, as well as renegotiating our long-term liability and putting provisions in place for future funding beyond the next financial year.

The restructure of the Students’ Union provides control over our commercial services and a decline in income from this area could now be managed without any material impact on our core charitable objects or on our going concern position.

Given the changes made over the past 12 months, and the ongoing support from the University of Roehampton, the Trustees have not identified any material uncertainty that would cast doubt on the charity’s ability to continue operating at its current level. For this reason, the Trustees consider it appropriate for the accounts to be prepared on a going concern basis.

Risk Management

The Board of Trustees has examined the major strategic business and operational risks faced by the Union. A risk register has been established to identify our principal risks and mitigate challenges and is formally reviewed and updated at least annually. Procedures are in place to ensure compliance with Health and Safety of staff, volunteers, and participants of activities organised by the Union.

Principle risks identified are as follows:

Principal risks How these risks are managed
Financial Performance and
Sustainability
The risk – A significant reduction in
available resources due to:		 1. We have strict financial controls
including:
a. Segregation of duties alongside
regular reviews and additional
levels of approvals for
payments, and expenditure.

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Trustees Annual Report and Financial Statements for the year ended 31 July 2024


External economic or environmental
factors (e.g. high levels of inflation
impacting running costs)

Government policy and/or changes
to the statutory HE funding model
(e.g. ongoing freeze of tuition fees)

Reduction in support from our
principal funder, the University of
Roehampton (e.g. a fall in student
numbers resulting in institution-wide
budget cuts)
This risks undermining our ability to meet
the needs of service users and to invest
appropriately in order to reach our strategic
objectives.		 b. Monthly cash flow forecasting.
c.
Monthly management reports.
2. Annual budget setting with six monthly
full charity re-forecasting process,
including review from Trustees.
3. Regular review and scrutiny of financial
and commercial performance by senior
management, trustees, and the
University of Roehampton.
4. A structured long-term agreement on
repayment of historical liabilities to the
University of Roehampton.
5. Engaging with external partners to
support ongoing horizon scanning for
political, environmental, and economic
factors that could materially impact the
organisation.
Staff Recruitment and Retention
The risk – A struggle to recruit high quality
colleagues alongside high turnover of staff
due to:

Low pay levels in comparison to
both the private sector and UoR

Staff burnout due to high levels of
responsibility within junior roles.

An underdeveloped benefits
package and culture of continuing
professional development.
This risks our ability to deliver our services
and develop new initiatives. It impacts on
culture and can lead to long term loss of
organisational knowledge.		 1. We have introduced a new set of HR
policies and procedures
2. We have diverged from the UoR pay
scale which allows for full control on our
future pay decisions including the ability
to deliver a comprehensive review of
pay and reward in future.
3. Introduced specialised casual staff roles
aimed at students across all areas of
our work to improve our capacity and
agility.
4. Plans to expand the capacity and
expertise of the senior management
team to develop a People and Culture
strategy.
Cyber Security
The risk – An increasing number of HE
institutions have been targeted by cyber-
attacks. As a small organisation there is a
risk that we do not have the ability or
knowledge to maintain secure systems and
appropriate levels of information security.		 1. Mandatory data protection and cyber
security training for all staff.
2. Close working relationship with UoR
including use of approved systems and
networks.
3. UoR IT security controls in place
including, multi-factor authentication,
firewalls, anti-virus/malware software,
security threat scanning, software
patching, and backups.
4. Continual review of training offer and
related policies and procedures.

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Trustees Annual Report and Financial Statements for the year ended 31 July 2024

Future Plans

Following the restructure of the Students’ Union’s service model and staffing team in March 2024, the organisation is now significantly different to the one that existed when the current Strategic Plan was created.

With that in mind, the Board of Trustees have agreed a bridging strategy with six strategic goals to guide the organisation towards the launch of our new strategic plan in 2025.

In the 2024-25 financial year we will focus our resources on:

Goal Outcomes
Creating and launching a
new strategic plan.		 We are approaching the end of our current strategic plan
and need to layout our vision for the future of Roehampton
Students’ Union. The core ambitions of this activity include:

Developing a plan that is fit for the current student
demographic at the UoR and shapes our long-term
growth.

It needs to clearly articulate the challenges we face
and how we are looking to address and overcome
them.

We need to ensure that students are bought into the
plan and we are aligned with the University’s new
strategy.

The goal is to complete our core research and
development of the plan across Q1 and Q2 with
details being finalised in Q3 before a launch in Q4.
Developing a new model for
academic representation.		 Academic representation is our core purpose. This year we
are looking to launch a new model and move towards a
digital first approach to representing students.

Recruit a new set of school representatives and
subject area representatives.

Create a new framework for the delivery of
academic representation in partnership with the
University.

Build a new digital system to capture, log, and
respond to feedback in a public manner.

Introduce service level agreements on response
times to drive the University into responding to
issues at pace.
Increasing engagement with
student groups.		 Students are struggling for both time and money which we
feel is limiting their engagement with student groups. We
need to look at ways that can streamline student group
membership, enhance the value proposition of joining a
student group, and provide funding opportunities to develop
groups so that they drive this work forward.

Develop a new student group training scheme
including detailed guides on running student groups,
events, budgeting and finances.

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Launch a digital system to capture issues and
respond faster, improving the experience for
committee members.

Create a year-round funding mechanism for student
groups.

Launch the Access Fund so students facing
hardship have the opportunity to engage.
Reviewing our Articles of
Association and Bye-Laws.		 Our governing document, the Articles of Association, is due
for its five yearly review. As part of this work, we want to
ensure that it is fit for purpose with the new structure of the
Students’ Union and how we’ve changed since the
Democracy Review.

We will develop a new set of Articles of Association
and associated bye-laws.

Consult our key stakeholders in the development of
these ensuring students have a say.

Look to adopt the new NUS Charity articles where
appropriate.

Go through formal governance including a special
resolution of the members, approval at Board of
Trustees, approval by University Council, and
approval by the Charity Commission.
Achieving a year end
surplus through a rigorous
approach to financial
sustainability.		 While we did significant amounts of work last year on
getting to financial safety and delivering a year-end surplus,
that is only the start of the journey. We still have a
significant liability due to the University.

We will seek efficiencies across all areas of work
and get best value for money in procurement and
contracts.

We will launch our in-house media sales and drive
revenue through a new business development
function.

We will develop and launch a new procurement
policy aimed at both financial and environmental
sustainability.

We will end the year with a surplus of at least £5k
and make payment of £30k towards the liability
owed to the University.
Digitising our work and
becoming data led in our
decision making.		 Our processes are hard to find and progress difficult to
track. We will take a digital first approach to our work,
looking to utilise new systems that drive efficiency and
transparency in our work.

We will build a data model to understand how depth
of engagement with the SU impacts on Office for
Students B3 outcomes.

We will develop a new data sharing agreement to
access deeper demographic data allowing analysis
of our services and where gaps exist.

We will build systems that allow our decision making
to be highly visible.

We will use our data to identify trends and inform
our decision making.

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Trustees Annual Report and Financial Statements for the year ended 31 July 2024

Structure, Governance, and Management

Roehampton Students’ Union is a company limited by guarantee (registered in England, company number 07323081) and a registered charity (Charity Commission registration number 1139857). It is a membership organisation that is governed by its Articles of Association.

The Union’s Articles of Association are reviewed at least every five years and any changes approved by the membership, through a special resolution, and by the University of Roehampton, through its Council. The Articles of Association were revised and approved most recently on 13 September 2018.

Members of the Union

Students at the University of Roehampton automatically become full members of Roehampton Students’ Union as soon as they enrol at the University. Students have the right (under the Education Act 1994) to opt-out of Union membership; once their student status at Roehampton ends, they lose their membership of RSU.

The Company Law members are the full members as outlined in the Articles 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.

Governance

The Union's Board of Trustees consists of three Sabbatical Officers, three Student Trustees, and four Lay Trustees. The Sabbatical Officers are elected from the Union’s membership on an annual basis, serving from 1 July to the following 30 June. The Sabbatical Officers work full-time for the Union, receiving a salary and completing a portfolio of duties alongside their role as a trustee of the Union. Student and Lay Trustees do not receive any allowance. Sabbatical Officers may stand for a second year, but, under the Education Act 1994, may only serve two years in total.

Student Trustees are either elected or appointed 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 two terms of two years. Lay Trustees are appointed via an open recruitment process and serve a four-year term of office and can be reappointed for a further term subject to Board of Trustees approval. Lay Trustees may claim legitimate expenses.

All trustees undergo a predefined induction program which is supplemented with relevant training for their role. Further training is offered during their trusteeship. The Board meets at least four times a year, with the Chief Executive Officer in attendance as chief advisor. The Board of Trustees works to ensure the resources of RSU are best used to deliver the Union’s vision, mission, and values.

The Union’s Articles of Association provides for the following democratic structures:

Roehampton Students’ Union

16

Trustees Annual Report and Financial Statements for the year ended 31 July 2024

The Students’ Union Council (President’s Committee) establishes policies, proposed by students, which may then be referred to a referendum of all students. Whenever possible, the Students’ Union seeks to act in accordance with the views of its members, as expressed through referendum or by the elected members of Students’ Union Council. However, the Board of Trustees has the power to override any decision made by referendum or Students’ Union Council that would put the organisation in breach of charity or education law or other legal requirements, is considered not to be in the best interests of the Students’ Union or its charitable objectives, may have financial implications for the Students’ Union, or may affect the ability of the Trustees to discharge their responsibilities.

During 2023 the Students’ Union undertook a review of its democratic structure. Changes were approved by the Board of Trustees (14 September 2023) that updated the Union’s byelaws including the reduction in size of part-time officers, the renaming of Students’ Union Council to President’s Committee, and the creation of student networks to support marginalised and underrepresented students. A full review of the Articles of Association was commissioned in 2024 and is due to report back in 2025.

The board met seven times during the 2023-24 academic year.

Management

The trustees are responsible for the governance, strategic leadership, and financial oversight of the Students’ Union, ensuring the organisation is working towards its mission and delivering its charitable purpose. The Board of Trustees is responsible for approving the strategy, major plans (including the annual budget and long-term financial goals) and policies of the Union, and for ensuring that these are implemented.

The Board of Trustees delegate much of the day-to-day running of the Union to the Chief Executive and Senior Management Team, who oversee the Union’s approximately 20 staff. In March 2024 the Union underwent an operational restructure which resulted in two core departments being created, each headed by a manager who reports to the Chief Executive.

The trustees may utilise sub-committees in the furtherance of its work and in 2023-24 this included:

Related Parties

Relationship with the University of Roehampton

The Students’ Union has a formal relationship with the University of Roehampton. This is set out in a jointly endorsed relationship agreement that sets out principles, and also by a Code of Practice which governs the formal interaction between the two organisations.

The Code is derived from the University of Roehampton’s statutory duty under the Education Act 1994 to ensure, such as is reasonably practicable, that the Students’ Union operates in a fair and democratic manner, and it is responsible in the management of its finances. The Code of Practice outlines how this statutory obligation is met.

Roehampton Students’ Union Trustees Annual Report and Financial Statements for the year ended 31 July 2024

17

Statement of Trustees' Responsibilities

The Trustees (who are also the directors of the Charity for the purposes of company law) are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the Trustees 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 Charity and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Trustees are required to:

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 time the 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.

Disclosure of information to auditors

Each of the persons who are Trustees at the time when this Trustees' Report is approved has confirmed that:

Auditors

The auditors, Goodman Jones LLP, have indicated their willingness to continue in office. The designated Trustees will propose a motion reappointing the auditors at a meeting of the Trustees.

This report was approved by the Board of Trustees on 21 January 2025 and signed on its behalf by:

Mohammad Imran Shafiqi President & Chair of Trustees 2024-25 Roehampton Students’ Union

Roehampton Students’ Union Trustees Annual Report and Financial Statements for the year ended 31 July 2024

18

(A Company Limited by Guarantee)

ROEHAMPTON STUDENTS' UNION

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF ROEHAMPTON STUDENTS' UNION

Opinion

We have audited the financial statements of Roehampton Students' Union (the 'charitable company') for the year ended 31 July 2024 which comprise the Statement of Financial Activities, the Balance Sheet, the 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, including Financial Reporting Standard 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 Auditors' 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.

Conclusion related 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.

Page 19

(A Company Limited by Guarantee)

ROEHAMPTON STUDENTS' UNION

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF ROEHAMPTON STUDENTS' UNION (CONTINUED)

Other information

The other information comprises the information included in the Annual Report other than the financial statements and our Auditors' 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.

Matters on which we are required to report by exception

We have nothing to report in respect of the following matters where the Charities (Accounts and Reports) Regulations 2008 requires us to report to you if, in our opinion:

Responsibilities of trustees

As explained more fully in the Trustees' Responsibilities Statement, the Trustees (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.

Page 20

(A Company Limited by Guarantee)

ROEHAMPTON STUDENTS' UNION

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF ROEHAMPTON STUDENTS' UNION (CONTINUED)

Auditors' responsibilities for the audit of the financial statements

We have been appointed as auditor under section 145 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder.

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 Auditors' 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.

Based on our understanding of the company and industry, we identified that the principal risks of non-compliance with laws and regulations related to industry sector regulations and unethical and prohibited business practices, and we considered the extent to which noncompliance might have a material effect on the financial statements. We also considered those laws and regulations that have a direct impact on the preparation of the financial 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 statements (including the risk of override of controls). Appropriate audit procedures in response to these risks were carried. These procedures included:

We also communicated relevant identified laws and regulations and potential fraud risks to all engagement team members; and remained alert to any indications of fraud or non-compliance with laws and regulations throughout the audit.

There are inherent limitations in the audit procedures described above and the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we would become aware of it. Also, the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations, or through collusion.

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 Auditors' Report.

Page 21

(A Company Limited by Guarantee)

ROEHAMPTON STUDENTS' UNION

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF ROEHAMPTON STUDENTS' UNION (CONTINUED)

Use of our report

This report is made solely to the charitable company's trustees, as a body, in accordance with Part 4 of the Charities (Accounts 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 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.

Goodman Jones LLP

Chartered Accountants Statutory Auditors 1st Floor, Arthur Stanley House 40-50 Tottenham Street London W1T 4RN

Date: 31-01-25

Goodman Jones LLP are eligible to act as auditors in terms of section 1212 of the Companies Act 2006.

Page 22

ROEHAMPTON STUDENTS' UNION

(A Company Limited by Guarantee)

STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 JULY 2024

Note
Income from:
Donations and legacies
4
Charitable activities
5
Other trading activities
6
Investments
7
Total income
Expenditure on:
Charitable activities
8
Total expenditure
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Net movement in funds
Total funds carried forward		 Unrestricted
funds
2024
£
693,400
153,255
9,018
417
856,090
786,519
786,519
69,571
(588,192)
69,571
(518,621)		 Restricted
funds
2024
£
5,717
108,293
-
-
114,010
112,207
112,207
1,803
22,680
1,803
24,483		 Total
funds
2024
£
699,117
261,548
9,018
417
970,100
898,726
898,726
71,374
(565,512)
71,374
(494,138)		 Total
funds
2023
£
662,580
369,530
6,356
136
1,038,602
1,153,694
1,153,694
(115,092)
(450,420)
(115,092)
(565,512)

The Statement of Financial Activities includes all gains and losses recognised in the year.

The notes on pages 27 to 42 form part of these financial statements.

Page 23

ROEHAMPTON STUDENTS' UNION (A Company Limited by Guarantee) REGISTERED NUMBER: 07323081

BALANCE SHEET AS AT 31 JULY 2024

Note
Fixed assets
Tangible assets
12
Current assets
Stocks
13
Debtors
14
Cash at bank and in hand
Creditors: amounts falling due within one
year
15
Net current assets / liabilites
Total assets less current liabilities
Creditors: amounts falling due after more
than one year
16
Net liabilities excluding pension asset
Total net assets
Charity funds
Restricted funds
17
Unrestricted funds
17
Total funds		 2,309
42,760
228,589
273,658
(73,173)		 2024
£
11,455
11,455
200,485
211,940
(706,078)
(494,138)
(494,138)
24,483
(518,621)
(494,138)		 1,069
43,425
188,929
233,423
(815,534)		 2023
£
16,599
16,599
(582,111)
(565,512)
-
(565,512)
(565,512)
22,680
(588,192)
(565,512)

Page 24

ROEHAMPTON STUDENTS' UNION

(A Company Limited by Guarantee)

BALANCE SHEET (CONTINUED) AS AT 31 JULY 2024

The entity was entitled to exemption from audit under section 477 of the Companies Act 2006.

The members have not required the entity to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

However, an audit is required in accordance with section 145 of the Charities Act 2011.

The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements.

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

The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by:

Ae

................................................

Mohammad Shafiqi - President President

Date: 21 January 2025

The notes on pages 27 to 42 form part of these financial statements.

Page 25

ROEHAMPTON STUDENTS' UNION

(A Company Limited by Guarantee)

STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 JULY 2024

Cash flows from operating activities
Net cash used in operating activities
Cash flows from investing activities
Interest
Purchase of tangible fixed assets
Net cash used in investing activities
Cash flows from financing activities
Net cash provided by financing activities
Change in cash and cash equivalents in the year
Cash and cash equivalents at the beginning of the year
Cash and cash equivalents at the end of the year		 2024
£
41,919
417
(2,676)
(2,259)
-
39,660
188,929
228,589		 2023
£
115,584
136
(1,955)
(1,819)
-
113,765
75,164
188,929

The notes on pages 27 to 42 form part of these financial statements

Page 26

ROEHAMPTON STUDENTS' UNION

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024

1. General information

Roehampton Students' Union is a registered charity and a company limited by guarantee incorporated in England and Wales. The registered office is Lawrence Building Froebel College, Roehampton University, Roehampton Lane, Roehampton, London SW15 5PJ. The Charity's objects are the advancement of the education and promotion of the welfare and interests of students at Roehampton University.

2. Accounting policies

2.1 Basis of preparation of financial statements

The financial statements have been prepared in accordance with the Charities SORP (FRS 102) - 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 (FRS 102) (effective 1 January 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

Roehampton Students' Union meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.

These financial statements are presented in sterling, the functional currency of the Charity, 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 respect of the guarantee is limited to £1 per member of the Charity.

2.3 Going concern

The Charity has a net liabilities position as a result of a loan from the University and thus is reliant upon financial support, in the form of the block and other grants and donated services, provided by the University to fund its activities. The 2024/25 block grant from the University has been agreed and there are no indications that funding and ongoing support will not continue to be provided as the University has given the Union assurance that such funding will continue at an adequate level for the Union to continue to operate at current levels. In addition, a payment plan has been agreed for the loan.

The Trustees have reviewed the level of expenditure and have reduced costs where possible and appropriate, and will continue to do so. The Trustees have prepared budgets and forecasts, 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 the foreseeable future and consider that there is no material uncertainty regarding the Charity’s ability to continue as a going concern. For this reason they continue to adopt the going concern basis in preparing the accounts.

Page 27

ROEHAMPTON STUDENTS' UNION

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024

2. Accounting policies (continued)

2.4 Fund accounting

General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Charity and which have not been designated for other purposes.

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the Charity for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.

2.5 Income

All income is recognised once the Charity has entitlement to the income, it is probable that the income will be received, and the amount of income receivable can be measured reliably.

Voluntary income includes grants and donations and is recognised in full on the basis of entitlement. Grant income is recognised once the above criteria have been met, together with any performance conditions attached to the grant. Grant income received is deferred only when the Charity has yet to fulfil the performance conditions. Subvention income represents the block grant received from the University of Roehampton (RU) in respect of the corresponding academic year.

Income from charitable activities includes providing goods and services to members. The income is recognised in full on the basis of entitlement and is stated after discount and VAT where applicable.

Income from fundraising includes hire of facilities, marketing and sponsorship. The income is recognised on the accruals basis.

Donated services or facilities are recognised when the Charity has control over the item, any conditions associated with the donated item have been met, the receipt of economic benefit from the use of the Charity of the item is probable and that economic benefit can be measured reliably.

On receipt, donated professional services and facilities are recognised on the basis of the value of the gift to the Charity which is the amount it would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market; a corresponding amount is then recognised in expenditure in the period of receipt.

Income tax recoverable in relation to investment income is recognised at the time the investment income is receivable.

2.6 Interest receivable

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the Charity; this is normally upon notification of the interest paid or payable by the institution with whom the funds are deposited.

Page 28

ROEHAMPTON STUDENTS' UNION

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024

2. Accounting policies (continued)

2.7 Expenditure

Expenditure is recognised once there is a legal or constructive 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 measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use.

Expenditure on charitable activities is incurred on directly undertaking the activities which further the Charity's objectives, as well as any associated support costs.

2.8 Tangible fixed assets and depreciation

Tangible fixed assets costing £500 or more are capitalised and recognised when future economic benefits are probable and the cost or value of the asset can be measured reliably.

Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be included in the measurement of cost.

Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Motor vehicles - 25% on cost
Office equipment - 25% on cost

2.9 Stocks

Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.

2.10 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.

2.11 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.

Page 29

ROEHAMPTON STUDENTS' UNION

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024

2. Accounting policies (continued)

2.12 Liabilities and provisions

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 Charity 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.

Provisions are measured at the best estimate of the amounts required 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, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised in the Statement of Financial Activities as a finance cost.

2.13 Financial instruments

The Charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.

2.14 Pensions

The Charity operates a defined contribution pension scheme and the pension charge represents the amounts payable by the Charity to the fund in respect of the year.

3. Critical accounting estimates and areas of judgement

Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Critical accounting estimates and assumptions:

There are no specific judgements, estimates and assumptions made by the Trustees that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year.

Page 30

(A Company Limited by Guarantee)

ROEHAMPTON STUDENTS' UNION

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024

4. Income from donations and legacies

Unrestricted
funds
2024
£
Grants
Block Grant
643,000
Growhampton grant
-
Donated serviced premises
50,400
Subtotal - grants from Roehampton
University
693,400
Other grants
-
Subtotal - other grants and donations
-
693,400
Total 2023
600,357
Income from charitable activities
Unrestricted
funds
2024
£
Entertainment Programme
47,197
Clubs and Societies
-
Cafe
104,952
Merchandising
1,106
Representation
-
153,255
Total 2023
345,038		 Restricted
funds
2024
£
-
-
-
-
5,717
5,717
5,717
62,223
Restricted
funds
2024
£
-
15,824
-
-
92,469
108,293
24,492		 Total
funds
2024
£
643,000
-
50,400
693,400
5,717
5,717
699,117
662,580
Total
funds
2024
£
47,197
15,824
104,952
1,106
92,469
261,548
369,530		 Total
funds
2023
£
549,957
62,043
50,400
662,400
180
180
662,580
Total
funds
2023
£
135,255
24,492
148,660
11,123
50,000
369,530

5. Income from charitable activities

Page 31

ROEHAMPTON STUDENTS' UNION

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024

6. Income from other trading activities

Income from fundraising events

Unrestricted
funds
2024
£
Media and sponsorship
9,018
Total 2023
6,356
Investment income
Unrestricted
funds
2024
£
Interest income
417
Total 2023
136		 Total
funds
2024
£
9,018
6,356
Total
funds
2024
£
417
136		 Total
funds
2023
£
6,356
Total
funds
2023
£
136

7. Investment income

Page 32

ROEHAMPTON STUDENTS' UNION

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024

8. Analysis of expenditure on charitable activities

Summary by fund type

Unrestricted
funds
2024
£
Student Representation
294,954
Student Activities
33,893
Communications
43,460
Entertainments
32,536
Welfare
-
Academic
185,804
Campaigns
-
Growhampton
73,407
Clubs and Societies
-
New Media - Student Life
-
Hive Cafe
122,465
786,519
Total 2023
1,064,389		 Restricted
funds
2024
£
98,186
-
-
-
-
-
-
-
14,021
-
-
112,207
89,305		 Total
2024
£
393,140
33,893
43,460
32,536
-
185,804
-
73,407
14,021
-
122,465
898,726
1,153,694		 Total
2023
£
308,286
56,691
34,470
262,141
34,037
169,900
647
71,112
27,082
6,268
183,060
1,153,694

Page 33

(A Company Limited by Guarantee)

ROEHAMPTON STUDENTS' UNION

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024

9. Analysis of expenditure by activities

Student Representation
Student Activities
Communications
Entertainments
Welfare
Academic
Campaigns
Growhampton
Clubs and Societies
New Media - Student Life
Hive Cafe
Total 2023
Analysis of support costs
Auditor's remuneration
Total 2023		 Activities
undertaken
directly
2024
Support
costs
2024
£
£
380,260
12,880
33,893
-
43,460
-
32,536
-
-
-
185,804
-
-
-
73,407
-
14,021
-
-
-
122,465
-
885,846
12,880
1,141,874
11,820
Student
representation
2024
£
12,880
11,820		 Total
funds
2024
£
393,140
33,893
43,460
32,536
-
185,804
-
73,407
14,021
-
122,465
898,726
1,153,694
Total
funds
2024
£
12,880
11,820		 Total
funds
2023
£
308,286
56,691
34,470
262,141
34,037
169,900
647
71,112
27,082
6,268
183,060
1,153,694
Total
funds
2023
£
11,820

Page 34

(A Company Limited by Guarantee)

ROEHAMPTON STUDENTS' UNION

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024

10. Staff costs

Wages and salaries
Social security costs
Contribution to defined contribution pension schemes		 2024
£
528,652
37,878
32,030
598,560		 2023
£
521,966
43,397
33,345
598,708

During the year, redundancy payments totalling £9,551 (2023: £nil) were paid to 2 (2023: 0) employees.

The average number of persons employed by the Charity during the year was as follows:

Full time
Casual		 2024
No.
7
25
32		 2023
No.
16
21
37

No employee received remuneration amounting to more than £60,000 in either year.

During the year, remuneration, including employer's NI and pension contributions, totalling £107,163 (2023: £143,564) were incurred in respect of key management personnel.

Page 35

ROEHAMPTON STUDENTS' UNION (A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024

11. Trustees' remuneration and expenses

During the year, under the provisions made in the Charity's Constitution, 6 (2023: 5) Sabbatical Officer Trustees received remuneration in respect of their employment contract with the Union. The value of Trustees' remuneration and other benefits totalled £90,674 (2023: £85,386).

2024 2023
£ £
Harrison Cohen - President Remuneration - 23,674
Pension contributions paid - 2,376
Sharon Azams Remuneration 24,905 25,880
Pension contributions paid 2,491 2,596
Mushtaq Ismail Remuneration - 23,674
Pension contributions paid - 2,376
Laura Johnson Remuneration 24,905 2,205
Pension contributions paid 2,491 200
Amy Hopkins - President Remuneration 27,169 2,205
Pension contributions paid 2,717 200
Irene Reynolds Remuneration 2,264 -
Pension contributions paid 68 -
Adam Fewster Remuneration 2,264 -
Pension contributions paid 68 -
Mohammad Shafiqi - President Remuneration 1,294 -
Pension contributions paid 39 -

During the year ended 31 July 2024, expenses totalling £ NIL were reimbursed to Trustees (2023 - £NIL to 0 Trustee).

Page 36

ROEHAMPTON STUDENTS' UNION

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024

12. Tangible fixed assets

Cost or valuation
At 1 August 2023
Additions
At 31 July 2024
Depreciation
At 1 August 2023
Charge for the year
At 31 July 2024
Net book value
At 31 July 2024
At 31 July 2023
13.
Stocks
Merchandise		 Motor
vehicles
£
15,651
-
15,651
15,651
-
15,651
-
-		 Office
equipment
and fixtures
& fittings
£
34,035
2,676
36,711
17,436
7,820
25,256
11,455
16,599
2024
£
2,309		 Total
£
49,686
2,676
52,362
33,087
7,820
40,907
11,455
16,599
2023
£
1,069

Page 37

ROEHAMPTON STUDENTS' UNION

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024

14. Debtors

Due within one year
Trade debtors
Other debtors
Prepayments and accrued income
Creditors: Amounts falling due within one year
Trade creditors
Other taxation and social security
Other creditors
Accruals and deferred income		 2024
£
25,359
-
17,401
42,760
2024
£
3,517
1,618
30,000
38,038
73,173		 2023
£
38,600
1,303
3,522
43,425
2023
£
20,067
-
752,312
43,155
815,534

15. Creditors: Amounts falling due within one year

16. Creditors: Amounts falling due after more than one year

2024 2023
£ £
Other creditors 706,078 -

Other creditors represents the balance due to University of Roehampton that is scheduled for payment after one year. The loan is unsecured and interest free, with planning annual repayments of at least £30,000.

Page 38

ROEHAMPTON STUDENTS' UNION

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024

17. Statement of funds

Statement of funds - current year

Balance at 1
August 2023
£
Unrestricted funds
General Funds - all funds
(588,192)
Restricted funds
Clubs and societies
22,680
Representation
-
22,680
Total funds
(565,512)		 Income
£
856,090
21,541
92,469
114,010
970,100		 Expenditure
£
Balance at
31 July 2024
£
(786,519)
(518,621)
(19,738)
24,483
(92,469)
-
(112,207)
24,483
(898,726)
(494,138)

Restricted funds comprise the following:

Growhampton fund - monies given to the Charity in order to fund the Growhampton edible campus project.

Clubs and societies - the self-raised funds of the Union's various clubs and societies.

Representation - monies received from University of Roehampton towards the Senate contribution and restructuring.

Page 39

ROEHAMPTON STUDENTS' UNION

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024

17. Statement of funds (continued)

Statement of funds - prior year

Unrestricted funds
General Funds - all funds
Restricted funds
Growhampton
Clubs and societies
Total funds		 Balance at
1 August
2022
£
(475,690)
-
25,270
25,270
(450,420)		 Income
£
951,887
62,223
24,492
86,715
1,038,602		 Expenditure
£
(1,064,389)
(62,223)
(27,082)
(89,305)
(1,153,694)		 Balance at
31 July 2023
£
(588,192)
-
22,680
22,680
(565,512)

18. Analysis of net assets between funds Analysis of net assets between funds - current period

Unrestricted
funds
2024
£
Tangible fixed assets
11,455
Current assets
249,175
Creditors due within one year
(73,173)
Creditors due in more than one year
(706,078)
Total
(518,621)		 Restricted
funds
2024
£
-
24,483
-
-
24,483		 Total
funds
2024
£
11,455
273,658
(73,173)
(706,078)
(494,138)

Page 40

ROEHAMPTON STUDENTS' UNION

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024

18. Analysis of net assets between funds (continued)

Analysis of net assets between funds - prior period

Tangible fixed assets
Current assets
Creditors due within one year
Total		 Unrestricted
funds
2023
£
16,599
210,743
(815,534)
(588,192)		 Restricted
funds
2023
£
-
22,680
-
22,680		 Total
funds
2023
£
16,599
233,423
(815,534)
(565,512)

19. Reconciliation of net movement in funds to net cash flow from operating activities

Net income/expenditure for the period (as per Statement of Financial
Activities)
Adjustments for:
Depreciation charges
Dividends, interests and rents from investments
Increase in stocks
Decrease/(increase) in debtors
Increase/(decrease) in creditors
Net cash provided by operating activities
20.
Analysis of cash and cash equivalents
Cash in hand
Total cash and cash equivalents		 2024
£
71,374
7,821
(417)
(1,240)
664
(36,283)
41,919
2024
£
228,589
228,589		 2023
£
(115,092)
8,333
(136)
(1,069)
(28,224)
251,772
115,584
2023
£
188,929
188,929

Page 41

(A Company Limited by Guarantee)

ROEHAMPTON STUDENTS' UNION

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024

21. Analysis of changes in net debt

Cash at bank and in hand At 1 August
2023
£
188,929
188,929		 Cash flows
£
39,660
39,660		 At 31 July
2024
£
228,589
228,589

22. Pension commitments

The Charity operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Charity in an independently administered fund. The pension cost charge represents contributions payable by the Charity to the fund and amounted to £32,030 (2023: £33,345). Contributions totalling £nil were payable (2023: £nil) to the fund at the balance sheet date and are included in creditors.

23. Related party transactions

The controlling parties of the Charity are the Trustees by virtue of their position as memebers of the Trustee 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 to £1.

The Charity receives a substantial part of its income by means of grant funding from the Roehampton University. This funding amounted to £743,400 (2023: £662.400) of revenue funding in the year under review, which includes £50,400 (2023: £50,400) in respect of serviced premises provided. The Trustee Board is of the opinion that this financial assistance is not an influencing factor with regards to the formation of the Charity's policy setting

At the balance sheet date, £736,078 (2023: £752,312) was owed by the Charity to Roehampton University, of which £30,000 (2023: £752,312) is included within creditors due within one year and the balance included within creditors due after one year. Included within trade debtors is a balance of £10,517 (2023: £17,600) owed to the Student Union by the University.

Page 42