2023-07-31-accounts

Oxford University Student Union (A Company Limited by Guarantee)

Registered Charity Number 1140687 Registered Company Number 07314850

ANNUAL REPORT AND FINANCIAL STATEMENTS

for the year ended

31 July 2023

OXFORD UNIVERSITY STUDENT UNION Annual Report and Financial Statements For the year ended 31 July 2023 Contents Legal and Administrative Infomiation Report of the Trustees Independent Auditorfs Report to the Members of Oxford University Student Union Consolidated Statement of Financial Activities 30 Consolidated Balance Sheet 35 Company Balan￿ Sheet 36 Consolidated Cash Flow Statement 37 Notes to the Financial Statements 38

OXFORD UNIVERSITY STUDENT UNION Annual Report and Financial Statements For the year ended 31 July 2023 Le al and Administrative Information TRUSTEES OF OXFORD UNIVERSITY STUDENT UNION The trustees serving during the year and since the year end are set out below- Sabbatical trustees Kennedy Aliu Rosalie Chapman Mia Clernent Nicholas Harris Danial Hussain Jennifer Lynam Ellie Greaves Michael Akolade Ayodeji Jade Calder Anna-Tina Jashapara Omortnre Gra Shreya Dua (Appointed 25 June 20231 (Appointed 25 June 2023) (Appointed 25 June 2023) (Appointed 25 June 2023) (Appointed 25 June 2023) (Appointed 25 June 2023) (Vacated Office 13 March 2023) (Vacated Office 25 June 2023) (Vacated offi￿ 25 June 2023) (Vacated Office 25 June 2023) (Vacated offi￿ 25 June 2023) (Vacated offi￿ 25 June 2023) Student trustees Daniele Cotton Edward Jacobs Flora Wilson Uri Sharell Serene Singh (Appointed 25 June 2023) (Appointed 25 June 2023) (Vacated Office 25 June 2023) (Vacated Office 25 June 2023) External trustees Nicholas Entwistle Jacqueline Clements Ben Ward Fay Shorter Chadie Palmer India Jordan Anthony Strike (Appointed 04 March 2023) (Appointed 04 March 2023) {Appointed 04 March 2023) {Appointed 7 December 2022) (Vacated Office 16 February 2023) acated Office 31 September 2023) REGISTERED CHARITY NUMBER 1140687 REGISTERED COMPANY NUMBER 07314850 REGISTERED OFFICE 4 Worcester Street Oxford Oxfordshire OX12BX ACTING CHIEF EXECUTIVE Nikki Smith

OXFORD UNIVERSITY STUDENT UNION Annual Report and Financial Statements For the year ended 31 July 2023 al and Administrative lllformation continued BANKERS The Co-operative Bank 13 New Road Oxford Oxfordshire OX1 1LG Santander Santander House Carfax Oxford Oxfordshire OX1 1HB AUDITOR Crowe U.K. LLP Statutory Auditor Aquis House 49-51 Blagrave Street Reading Berkshire RG11PL SOLICITORS Russell-cooke LLP 8 Bedford Row London WC1R 4BX

OXFORD UNIVERSITY STUDENT UNION Annual Report and Financial Statements For the year ended 31 July 2023 Re ort of the Trustees Oxford SU has achieved in numerous endeavors throughout the 22-23 aGademiG year, despite the backdrop of changing CEO'S. The 22-23 acadeTnic year saw Kate Dawson leave, moving onto pastures new, an Interim CEO lead the SU for 6 months and the placement of Dom Anderson as the pemianent CEO. Who vacated the role in February 2023. Despite the changes in Leadership, the Oxford SU team has achieved great things in the pursuit of its charitable aims as can be seen below. The board of trustees, who are also the directors of Oxford University Student Union ('Oxford SU"), are pleased to present their annual report along with the financial State￿entS of Oxford SU for the year ended 31 July 2023. The financial statements have been prepared in accordance with the accounting policies set out in note 4 to the financial statements and comply with the requirements the Charitiès Act 2011, the Companies Act 2006, and the Charities Statement of Recommended Practice {"Charities SORP FRS 102,1 issued in October 2019. THE AIMS OF THE CHARITY Oxford SU is a students, union within the meaning of the Education Act 1994. The charitable objects of Oxford SU are the advancement of education of the students at the University of Oxford (students, and 'the Universit￿ respectively) for the public benefrt by.. Promoting the interests and welfare of students and representing, supporting and advising students. Being the recognised representative channel between students and the university and any olher e*(ernal bodies., Providing social, cultural, and recreational activities and forums far discussions and debate for the personal development of students., and Furthering all purposes which are charitable in law, and which are incidental or Gonducive to the main objects. These objects are pursued by representing and promoting the interests of its student membership to the University of Oxford, local and national government, the National Union of Students INUS} and other external groups.. providing welfare, support and advocacy services for students experiencing dffficulty or requiring help during their time at university,. campaigning on such issues as may affect the membership of the union,. and the provision of other services as the membership mighl request or require. Oxford SU will seek at all times to: Ensure that the diversty of its student membership is recognised and that equal access to services is available to all its members of whatever origin or orientation., Pursue its aims and objectives independently of any political party or religious group- and Pursue equal opportunities by taking positive action wilhin the law to facilitate the participation of under-represented groups in educational, representative, social and cultural activities.

OXFORD UNIVERSITY STUDENT UNION Annual Report and Financial Statements For the year ended 31 July 2023 THE AIMS OF THE CHARITY CONTINUED Publlc benefit The trustees have a duty to report on 'publiG benefiv by explaining= the significant activities which are undertaken in order to cary out their aims for the public benefit,. and their achievetnents measured against those aims. The trustees confirm that they have complied with the duty in section 17(5) of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission.

OXFORD UNIVERSITY STUDENT UNION Annual Report and Financial Statements For the year ended 31 July 2023 ort of the Trustees continued THE AIMS OF THE CHARITY (CONTINUED) Strategic Development. Oxford SU has been through a period of transition beknen olcl and new leadership during the 22-23 academic year. With this in mind, Ihe strategy has continued from previous years with a new strategy implementation due to take place in 2024. Strategy: Oxford SU is led by students for students Our tèam represents the interests of our members with drive, detemiination and proficiency. Our strategy contains three key goals.. Education We want to SUPPOrt and encourage all students to get the most out of the academic experience at the University of Oxford. Wellbeing We want to work togetherwth students and the Universty to make a welcoming, safe and inclusive place to live and study with an equally high experience for all students. Communities We want to enable communities to connect, develop and grow- to improve the Oxford experience as a whole. We are committed to empowering our members. Oxford SU believes that the University of Oxford must lead the way in creating an environment where current and future students are governed by fairness-, where everyone has an equal opportunity to flourish in their pursuit of education. We believe that education is the foundation for the future. The better the education, the better the future for all of us. Being a student at the University of Oxford brings unique privileges, opportunities and challenges. OxFord SU is committed to empowering its students,. we will ensure that their voice is listened to at every level of the University and is a catalyst for positive change. We embrace the entire student experience, from the grandly institutional to the intensely personal. We are entirely devoted to the wants and needs of all students, current and futu￿. Our current strategic aims focus on- Supporting and empowering Common Rooms, adding value to the College experience. Belng the representative voice of the students of Oxford, guaranteeing every student's voice is at the heart of what we do. Bringing people together, showcasing the comrnunity at Oxford and ensuring students get the support they deserve. We believe in making the Universty of Oxford a better pla￿, to the benefit of our students and society at large.

OXFORD UNIVERSITY STUDENT UNION Annual Report and Financial Slatements For the year ended 31 July 2023 Re ort of the Trustees continued ACHIEVEMENTS AND PERFORMANCE Su ortin and Em owerin Common Rooms Oxford SU are committed to providing the best possible service and support for common rooms. This ranges from training to welfare provisions and wellbeing event5. It's unique position at Oxford as an SU in the centre with JCRS and MCRS in Colleges means that an off the shelf sector approach will not work. Oxford SU must be innovative if it is to successfully represent all Oxford students. Meet the SU At the start of the year, the sabbatical officers were keen to introduce themselves to students in colleges and introduce the work of the Student Union more broadly. To do this, they devised a 'Meet the SU, session during the Freshers, W&k. Across three days they went to 14 common rooms namely, Balliol JCR, Corpus Christi JCR, Exeter College JCR, Mansfield College JCR, New College JCR, Oriel College JCR, Pembroke college JCR and MCR, Hertford College MCR, Jesus Colleg¢ MCR, Keble College MCR, Merton College MCR, St Anne's MCR and St Hilda's MCR. The events gathered great attendance with Balliol and Oriel JCRS having approximately 100 students each. Common Room Elections Oxford SU provide support to common rooms in running elections for new committee members. This year 49 common rooms used the website to run 261 elections with Jesus JCR running the grealest number of elections. SU Reps At the end of Michaelmas Temi'22, Oxford SU started an SU Representatives Project, seeking to increase the number of colleges with SU reps and improve engagement with them to better support and empower common rooms. To begin with, this project included finding colleges that have SU Reps and introdLJcing them to the SU. By January 2023, the team had engaged wth 13 out of 15 SU Reps across the colleges, including meeting them in person at the SU, providing them with an inforrnation pack and discussing potential ways of collaborating with their colleges. In Hillary Term, it was arranged to have Meet The SU.. Elertions Edition at 4 Colleges (St Catherine's, Merton, St Antony's, and Worcester College) engaging 30 students in the works of the SU and encouraging them to vote in the Leadership Elections. In addition to this, Oxford SU held a Meet and Greet SU Repcom whiGh gave all the reps the opportunity to meet one another. In tum this led to SU Reps being a great help in the promotion of Oxford SU events such as the Clothing Swap, Buy One Give One Free Food Donation Competition and Student Awards within their colleges. Communications to JCR and MCR Presldents One of the priorities of thè Su's sabbatical offi*r team this year was to improve communications to JCR and MCR Presidents on the work the SU does, especially related to the policy work our sabbatical officers do in comtnittees. In order to do this, during Michaelmas term an SU information pack was collated and distribuled for Presidents. This included infomation on shared goals wth common rooms, how the SU can specifically support presidents, how the SU represents students, sabbatical officer manifesto priorities, information on committee work and lots more.

OXFORD UNIVERSITY STUDENT UNION An n ual Report and Flnancial Statements For the year ended 31 July 2023 Re ort of the Trustees continued ACHIEVEMENTS AND PERFORMANCE Communications to JCR and MCR Presidents (Continued) In addition to this, in Trinity term, Oxford SU started putting together a regular'su Policy Updates, 1 page document specrfically sent to JCR and MCR Presidents. which summarised policy updates, where they are not confidential, categorised in sections such as Academic and Access policy, Sustainabilty, Welfare, Equal Opportunrties, Cost of Ltving, UCU (University and College Union), Other). This enabled presidents to see more clearly what the sabbatical officers are working on and shown them who speofir211y to contact regarding different policy matter5. Representstlve Communltles (Repcoms) Representative Communities {RepComs) are meetings which the SU host to bring student reps from dtfferent colleges together. These communities provide ne￿Orking opportunities for the student reps. enabling Oxford Su's sabbatical officers to have their Gommittee work infomed by wider ne￿Ork of representatives, and provide a space for sabbatical Dfficers and SU campaigns to update common room reps on theirwork. The time and space also enable reps to gain insight and advice from each other on varying experiences at different colleges which can inform their own work. Some key illustrations from this cycle of Repcoms are.. Disabled Students campaign - demonstrating that access needs can only genuinely be met at Student Council if it remains a hybrid meeting. JCR Access Reps feeding into VP Access & Academic reports for Admissions Committee on undergraduate interview formats and proposed changes to UCAS admissions pro￿$$. The former helped to shape the ultimate student survey that was sent out by the University, and the latter fed into the Admissions and OLrtreach team's response to UCAS. JCR Access and Class R8PS, the Su's Class Act Carnpaign and VP Access & Academic Affairs building on the wort( started by JCR Presidents to share inforynation regarding the ost of living across colleges. Environment and Ethi¢s Representatives informing the development, wording and tracking of the Su's College Sustainability Demands. Charities Reps collaborating wth each other on Buy One GNe One Free Oxbridge Food Drive Competition and getting SU support on this project. The feedback and follow-up actions the Sabbatical team received from these spaces has 1nf[uen￿d their projects and amplified the student voice. Across this year. Repcoms saw attendance of 720 representatives. Welfare supplies This year Oxford SU has fU￿illed 97 welfare and sanitary product orders. This has encompassed 31 colleges (￿0 thirds of all colleges) and the SU has also started supplying departments who are offering free period product schemes. Rent Negotiation Tralnlng 40 JCRJMCR executive members attended in-person to learn how to get the best deal for their students. The VP Charities and Communities and Student Advice pul together a presentation and support document that provided students with strategies and information to use in negotiation wth their college. Due to the high16vel of inflation in 2022-2023, this was a particularfy important and difficult year for rent negoliations. The SU would like to develop this training further, and is seeking feedback from ¢ollege8 in order to make it as useful to common rooms as possible.

OXFORD UNIVERSITY STUDENT UNION Annual Report and Financial Statemonts For the year ended 31 July 2023 ort of the Trustees continued Achlevements & Performance (continued): Website Training Oxford SU have six training modules which show JCR, MCR, Society and Campaign ¢ommitt88s how to use the SU website - these have been ac￿SSed a total of 1,473 times: How to Add Event Adverts (accessed 192 times)., How to add group infomiation {awessed 83 times)- Updating committee and admins {accessed 458 times)- Message mail lists (accessed 194 times)., Run elections (accessed 342 limes)., Update your profile (accessed 204 times)., Collegewellbeing events These events range from massage, yoga, therapy dogs and craft events. There is also the opportunity to meet and talk with sabbatical offi￿r$ in an infomal setting and leam more about the work the SU does and how to become involved. In Michaelmas term alone, Oxford SU provided wellbeing to 246 students a¢ross 10 Colleges. In Hilary and Trinity terms we focused on supporting St. John's College common room, after identifying them as in particular need of welfare support. We ran massage sèssions at their welfare brunches, helped them organise Capoeira classes, and provided them with therapy dog visits. We have provided wellbeing for around 100 students at St. John's, with rnore events to come this term. Key learning Vvhilst those whD took part in our college wellbeing events enjoyed them, we also have to be clear that numbers were low. We will be ensuring that wellbeing events moving fO￿ard are more focused and in line with what colleges are asking for whilst also acknowledging that sometimes the impact of smaller events can also be worth the investment. Our Sabbati¢al officers have made gr@a1 strides this year in developing stronger relationships wth JCRS and MCRS. As part of the development of the new strategy enable them to have more freedom and be more responsive to the needs they are encountering. We will be expanding our welfaré provisions available to colleges, whilst alsD seeking more lucrative avenues that ènable us to turn a profit to invest back into the provisions available to common rooms and this will be further developed. We are already looking to develop a module around tree speech which we feel wll be a useful resource for our members.

OXFORD UNIVERSITY STUDENT UNION Annual Report and Financial Statements For the year ended 31 July 2023 Re ort of the Trustees contlnued Achievements & Perfomance (contlnued): Bein the re resentative voice of the students of Oxford Students, Unions exist to be the representative voice of students and Oxford SU is no different. Through listening to students both through fomial channels and via our Sabbatical Officers informal conversations,. we aspire to be the Vol￿ of all matriculated Oxford students. regardléss of college. This has been a difficull year as we have found ourselves experiencing significant staff shortag8S which mean our delivery of key representative projects like our Leadership Elections have not b8en as positive as in previous years. Our Student Council is generally well attended by committed and passionate students. We have had to make some chan9es to how we support this with a hiring freeze in our staff team making it difficutt for full staff support to be a possibility- The steering committee is full of talented people who have embraced the challenge well. It is the case that sometimes motions to Student Council can inadvertently lead to some wntroversy, which is difficult to avoid. Student Councll student Council is the Student Union's decision-making body. There are 12 student councils (4 per term) over the academic year. For each student council meeting, Oxford Su's sabbatical offi￿r$ submit a written repor[ updating on their progress on their manifesto pledges, and any key meetings and events thelve attended. In the meetings themselves, they present verbally on these reports, and any student can come to ask questions about their progress. Our 8 carnpaigns also submit a report to council every term on their progress. Any student can also bring an item for discussion, or a motion for resolution lo council, and this is a key way student engage wth our SU democracy. Students Voted for a referendum on the continuation of the Su's affiliation with NUS (National Union of Students) in January and more recendy some rules that brought about a more streamlined process and autonomy for students. The Chair has facilitated some tense discussions on motions with impressive skill. Our Returning Officers have On￿ again exhibited their capacity to scrLrtinise- during the Easter vacation Student Council rules were fully revisited and amended by Steering, and Council procedures examined. Studenl Council has also been the initiation point for ex￿lIent student projects, such as: Voices from Death Row Art Exhibition: The purpose of this project was to showcase the lived realities of Sufviving death row and raise awareness of the inhumanity and injustices surrounding capital punishment, as well as testify to the therapeutic powers of art. This exhibition saw over 260 attendees. Education Audiocast=The purpose of this project is to provide a platform for expert speakers to share research-based advice and practical recommendations on supporting children's learning and development. Intersectionalising Oxford Event Series.. This event was a panel style conversation exploring the relationship betsveen space and race in Oxford, with a particular focus on th8 histories and experiences of Black students. The event aimed to highlight the hisloriGal contexts of these eXperien￿S and link them to the present to encourage attendees to better understand the cities past and critically imagine its futures. Africa Day 2023: Commemorating the 60th anniversary ofAfrica Day. Africa Day is celebrated throughoLrt the world on 25 May to commemorate the liberation of African countries from decades of brutal colonial rule, and the founding of the Organisation of African Unty (precursor to the African Union) on 25 May 1963.

OXFORD UNIVERSITY STUDENT UNION Annual Report and Financial Statements For the ye3r ended 31 July 2023 Re ort of the Trustees contlnued Achievements & Perfomiance l¢ontinued): Leadership electlon Each year Oxford SU hosts annual elections to elect our six Sabbati¢al Officers, NUS Delegates and the Student Trustees. The project team this year was more inexperienced than in previous years and the Election Lead role was carried out by a contractor due to personal circumstances within the staff team. It is undeniable that these factors influenced the delivery of the Leadership Elections. However, the conlraclor was very experienced in student union elections and authored robust report for actions, improvements. and deliverables as a blueprint for the 2023 cycle. This year the elections saw 49 nominations across all roles & although below the figure for 2022, it included a diversity of undergraduate and post graduate nominations. The undergraduatelpostgraduate imbalance increased this year from 570h of undergraduates being nominated to 71 %. The withdrawal rate: the proportion of students who withdraw their nomination: was 40°A this year compared with 460/0 in 2022 and the final nurnber of candidates on ballot was 24. The total number of students who voted in the Elections was 2,762 whiGh is a 100/0 total turnout from the student body. Hustings, Results night, and Candidate supportwas organised and delivered in Ihe (temporary) SU building at Hayes House. Turnout was lower than in previous years so to increase engagement and support for students the team held Candidate Academy sessions for Undergraduate and Postgraduate Students. This included writing manrfestoslcampaigning, key challenges and effective leadership as a Trustee and representative of 25,000 Universty of Oxford Students. The sessions covered the following topics: 1) Candidate Academy: A day in a life of a sabbatical officer 2) Candidate Academy." Communicating effertÉvely 3) Candidate Academy: Running an effective campaign and how to win an election 4) Candidale Academy.. What candidates need to know about being a Trustee and an effecttve leader Graduate Cost of Living Survey Thé post-graduate cost of living sutvey, designed and run by the VP Graduates, received 1,512 responses. The survey aimed lo assess how graduate students were impacted by the current cost-of-living crisis. The data was professionally analysed and used to illustrate financial need and hardship that graduate students are facing to the University. The VP Access & Academic Affairs developed and disseminated a survey to undergraduate students on their academic experience which received 786 responses. This, alongside the Student Barometer data and the NSS {National Student Sukveyl survey results, formed the basis of the written student submission to Ihe Teaching Excellen￿ Framework forthe University. They also contributed to the Universivs main submission and were supported with guidance from Education Policy Support. The Student Advice and Wellbeing offer free and confidential advice and wellbeing to Oxford University students. We offer a drop in, telephone service Mon- Thurs in term time. as well as email and fa¢e-to-faGe appointments. We can attend College or University meetings with students if we have availability. We attend in a supportive capacity and offer to take notes for the students. Technically. we do not play a speaking part in the meetings, however, we have found that we are increasingly asked to speak by College and Universty panels and commended for the insights and context we are able to offer, and which may have been ovedooked due to the restrictions of Collegeluniversity policy. 10

OXFORD UNIVERSITY STUDENT UNION Annual Report and Financial Statements For the year ended 31 July 2023 ort of the Trustees continued Achièvements & PgrfonnanGe (continued): We also help vrith the planning and preparation of statements on.. MCE (Mitigating Circumstances (notice) to Examiners, Appeal applications. Students can consult us on any issue which affects their university lrfe. The main enquiry areas remain as last year- Accommodation. Academic Issues, Money (fees and funding and debt adviGe), University or College DisGipline and Mental Health. We have a total of 1,341 open cases at present. We have worked on a total of 346 cases from July 2022 to May 2023, including 299 new cases during this time. These include complex ongoing cases, such as matters of academic discipline, academic appeals: disability issues. harassment claims, and migration. We typically add work to these cases each week or every other week, depending Dn how the student gets in touch with us. In addition, these cases include general, one-time advice given to parents. prospective students, and students of other institutions who fall outside of our remit. The students we see include undergraduate students, post graduate taught students, and post graduate research students. We have worked with students from 38 colleges and from 2 pemanent private halls in the period of July 2022 to present. We have trained a full-time advice and wellbeing coordinator this year. and unfortunately lost our senior advisor and wellbeing lead, as well as our advice manager. Cornmlttee Impact Our advisors worked with the Officer team on graduate accommodation rent negotiation proposals to take to the University Propety Management Subcommittee. The advisor provided insight based on knowledge of stLJdent accommodation issues and financial stress and aided the VP Charities and Communities in preparing for committee discussions and negotiations. Ultimately, the committee decided on a lower rent increase for graduate accommodation than they would have without SU input. Obseryations Academic issues, including academic discipline, make up nearly a third of the casework we do. students come to us seeking help on navigating the complex University processes of academic appeals, plagiarism interviews. exam adjustments, and dispensation applications. Students (ffien need help understanding what their options are when faod with a¢ademic issues, and our main role is in identifying options for them and clarifying the process. This year. we have worked with the Prodors office frequently to communicate regulations and PrO￿$seS to students. Addrtionglly, we have routinely sought advi￿ from Education Policy Support in order to help students rnake applications for dispensations from the rules to Education Committee. We have also seen a number of students involved in applications for dispensations to the Medical School, and have worked wth representatives.from the Medical School to outline options for these students. Accommodation enquiries have remained high. Students are also struggling to find affordable accommodation and Gome to Student Advice for ideas of where to look, especially when they are unable to rent through their college or the University. Intemational graduate students have a particularly difficutt time finding accommodation, especially if they are required to use a guarantor. While there have been relatively few cases of college migration, this has been an area of growth in knowledge and experience for Student Advice. We have worked with a few students on migration consistently and have developed strategies for helping student achieve migration. Reasons for migration range from wanting a dtfferent academic environment, to disability accommodation problems, to issues with social life.

OXFORD UNIVERSITY STUDENT UNION Annual Report and Financial Statements For the year ended 31 July 2023 Re ort of the Trustees continued Achievements & Perfonnance (continued): Key Learning It is clear that students need Student Advice's SeNi￿S and support, especially in regard to academic issues. Student Advice provides help to students who are unsure of how to navigate the various University policies, regulations, and processes that impact their academic lives. In future years, it would be good to grow the service beyond our c(Jrrent capacity. Though we have helped a significant number of students with academic issues, they likely represent a fraction of the students who need support. Furthermore, increased capacity in the service would allow us to have longer dropin hours, offer more students meetings, and advertise ourselves more widely. Looking forward, it would be useful for a member of Student Advice to represent the student voice on University Gommittees that help shape policy and procedure on education, academic issues, complaints, and harassmenl. Student Advice is well positioned to cotnment on how students are affected by policies and how they may or may not be easy for students to navigate. Despite our VP Access and Academic Affairs working extremely hard to deliver an SU submission forthe TEF ffeaching Excellence Framework), as an organisation we did not provide enough support. Moving forward the SU would be better placed to employ fixed temi project staff to deliver important collaborative work. This is a strategy that will (budget dependant) be utilised when the SU begins working with the University on the APP (Access and Partlcipation Plan). Our election tumout was poor this year and not in line with our hopes and expectations. This is due to a lack of strategic planning and a gulf in leadership caused by the changes in CEO. This is not acceptable, and our elections must be a University and College wide event that students feel engaged and passionate about. Election 2023 will be an improvement. Brin in eo le to ether Students, Unions are hubs for the student community and whilst at Oxford JCRS and MCRS do an excellent job in bringing togethèr students in their colleges. Oxford SU exists to bring together students from across the University of Oxford. Whether as a social space for socielies, a meeting HQ for Campaign groups orjust somewhere to go when you need a friend., Oxford SU is all of those things and can be so much more. student-Led Campaigns Oxford SU supports eight student-led campaigns" CRAE (Campaign for Racial Awareness and Equality), Class Act (campaign for working class students), Disability Campaign, It Happens Here (carnpaign against sexual violence), ISC {Intemational Student Campaign), LGBTQ+ Campaign. Suscam (Suspended Students) and the Women's Campaign. These campaigns are entirely student-led but gain support with funding, training, development, and event planning (including risk assessments) from staff members within the Students, Union. Students stand to be eleded to the Campaign Committees and can also stand to be a Campaign Co-chair, a shared leadership position on the committee. Students are also able to sign up to membership of Campaigns. The SU also support Raise and Give (RAG), the student fundraising group which raises money for charities elected by the student body, and Target Schools, a scheme to broaden appliGations and access to Oxford for all sectors ofthe communty. 2,165 students are currently members of an SU Campaign, and there are 91 students in leadership roles within them. 12

OXFORD UNIVERSITY STUDENT UNION Annual Report and Financial Statements For the year ended 31 July 2023 ort of the Trustees continued Achlevements & Perforniance (contlnuedl: Campaigns and Scheme ovènts July 2022- July 2023 Our Campaigns have recently had a huge boost in recruitment. Through our byeryelection. 112 roles filled by 91 unique students on our Campalgn commtttees. most of whom are wtth us until Hilary 2024. Campaign Highlights All our campaigns and scheme5 have delivered excellent events with great engagement. We chose a few to highlight below but see ongoing evidence oftargeted support and campaigning of individual cause from all our student groups. It Happens Here, our anti-sexual violence campaign, have continued to create and support safe spaces and communities offering events to encourage sharing time and positive experiences. They organised events called "Still I write. where students collaborated on wtitten word projects such as poetry and creative wriling or could enjoy the artistic work of others. °Still I Write. is now happening termly, and something that the campaign wants to institulionalise within the SU. It always has a great lum out and they get valuable feedback from attendees. They held a sign rnaking session ahead of the Reclaim the Night event. They have created a safe study space in the SU for suspended studenls and other students looking for a relaxed and friendly place to work where SU staff and sabbatical officers are available for informal chats. They organised Women for Women film screenings and delivered a workshop WEth "Empowered Campus. to reinforce strategies and mechanisms for empowement during daily student lrfe. One of the Campaign Chairs has been heavily involved in campaigning and lobbying at universty. local and national level around the ban Dn NDAS (non-disclosure agreements) in Sexual Misconduct cases. This is a direct continuation of last yearfs robust work by the campaign on this issue. It Happens Here have a seat on relevant working and steering groups organised by Ihe Sexual Violence and Support Service and are Consulting wlth the service the SU on delivery of consént training goin9 forward. IHH were key voices in th8 studenustaff relationships ban which Ihe SU will hold as integral legacy work. LGBTQ+ are One of our most engaged and active campaigns. The Committee are dedicated and committed, and the carnpaign reaches deep into the student body. Last year the co-chairs of the campaign organised a tearful and powerful Trans Day of Remembrance vigil. encouraging key figures within th8 university and colleges lo visit to show solidarity with students. This was repeated this year with significant student engagement. The campaign worked closely with our sabbatical team in terms of consultation and thoughts and input on lobbying. We are particularfy proud of our LGBTQ+ campaign for wtnning a national award at the Student Pride awards this year and for the woth IHH have done and continue to do around consent training with the SU and the Universty. Disabled Student's Campaign (Discam) The Discam committee have continued to moderate their 24 Facebook support groups for students wtth drfferent conditions such as eating disorders, visual impairment. autism, and chronic pain, which Greates spaces for students to interact Wtth other students who have experience navigating Oxford with the same conditions. The Class Act aims to support and raise awareness of the potential barriers around further integrating first generation, low income and state comprehensive students into Oxford and providing support. They host welcome socials, events, and quizlfun nights all with the aim of making the Oxford communty as open and welcoming to all as possible. 13

OXFORD UNIVERSITY STUDENT UNION Annual Report and Financial Statements For thè year ended 31 July 2023 Re ort of the Trustees continued Achievements & Perfomiance {continued): Our Campaign for Racial Awareness and Equality (CRAE) have had a successful resurgence after a brief hiatus, with two interim co-chairs and having now elected an executive commrttee to reslart activities. These have included 'thinking and drinking, events about racism in academia in response to a high-profile case in the Philosophy Faculty which was attended by 3 of our sabbatical officers and around 40 students. They have also hosted events collaborating with Feminist Society and the Woman of Colour Society, a Film Screening and Q&A with prolific composer Des Oliver forArts Week, and a campaign social dinner. One ofthe co-Ghairs has been particularly active, attending a meeting with the new Chiel Diversity Officer and the head of the Humanities Department, as well as attending and being very vocal about the University's EDI (Equality, Diversity & Inclusion) Roundtable. Student Societies Although student societie5 are independent from us. we do provide some support to them. Our societies directory platfomis over 280 active societies which was visited by 41,797 people over the course of the year. We also offered support to societies in running elections and advertising events on our event's page. Social Action Fair In order to get more students involved with our campaigns, as well as the local community, this year we worked with Oxford Hub to organise a Social Action Fair in St Luke's Chapel in January 2023. This fair offered students the opportunity to find out more about getting involved with the campaigns and volunteBring opportunities around Oxford. We consulted with our Disabilities Campaign to make the event as accessible as possible and resulting actions included having included a quiet hour. With over 200 attendees and 25 organisations (split between student-led campaigns, and local organisations}, the event was an enormous success, and one which we hope to build on and expand in the fulure. Arts Week Our VP for welfare and equal opportunities led on Arts Week which engaged 245 students over the course of the week and opened doors to art, culture, and creativity for everyone. Future events that we are looking fO￿ard to are our new venture around Clothing Swaps in the SU. Currently we have over 200 students registered and the second celebration Student Awards evening forwhich nominations currently ex￿ed 200. 14

OXFORD UNIVERSITY STUDENT UNION Annual Report and Financial Statements For the year ended 31 July 2023 ort of the Trustees continued Achievements & Perfom)ance (continued}: Target Schools Staff and committee turnover have meant that the SU has not been able lo Cary out as much work wth Target Schools as planned. The SU typically offer Oxford sludent speakers, student buddies and shadowing days to Year 12 and 13 in community schools. The SU will be focusing more on this in the 23-24 academic year. Wellbeing Events Our SU advice and wellbeing team delive￿d a number of wellbeing events across the year. These ranged from our well-loved dog walks in Christ Church meadow, to massage sessions at the SU, and therapy dog visits. We also ran crafting events, which provided students with a space lo relax. The term dates and attendee numbers are listed below. Michaelmas 2022 Two dog walks, 82 attendees total. A￿ayS our most popular wellbeing event, we re￿1ve consistent feedback on how enjoyed and appreciated Ihe$e walks are. A stsndout piece is from a PGT (Postgraduale Taught) student who is quoted below. °This is the first welfarg event at Oxford which has actually felt like w8lf8re° Term 2023 Crafting workshop at SU as part of Arts Week, 20 attendees. We offered a variety of crafts including painting, crochet, sculpting, bracelet making and scrap booking. and provided refreshments. Feedb8¢k from students included requests for similar events in the future. Hila Trin Tem 2023 Durin9 Mental Health Awareness Week (May 15-21) we held three events, including a massage event, a crafting work shop. and a radio program on student mental hearth. Numbers and details are below.. Five Minute Mini Massages. 15 attendees. This was a relaxed 8vent where students ¢ould drop in, have a tea and refreshments, and then have a five-minute massage from a professional masseuse. Oxide Radio Show: Let's Talk Student Mental health. This featured a discussion be￿een our VP Welfare and Equal Opportunities, the University Counselling Servi￿, and Oxfordshire Recovery College. The Chair of the Universty Joint Student Menlal Health Committee and head of Wellbeing Servi¢es have since asked for il to be circulated within their staff ne￿orkS. Therapy Dogs, Doughnuts, and Mini Massage, 50 attendees. Training Bystander Intervention Training We have run this training online for 16 students, in-person for 40 students on the Oxford Union committee (across 2 sessions). and in-person 84 students in the Said Business school (across 4 sessions). Students were asked to rate how equipped they fett to safely intervene in cases of harassment- they rated this as 2.515 before the session and 414 afterwards. 15

OXFORD UNIVERSITY STUDENT UNION Annual Reporl and Financial Statements For the year ended 31 July 2023 ort of the Trustees continued Achievements & Perfonnance {continued): Class & Cost of Living Training 10 attended live and the slides hav8 been downloaded 409 times Consent Facilitator Workshops 137 students were trained as facilitatOT3, who then went on to run their own workshops. Before the training, students rated their readiness to run a consent workshop as 2.715 on average. After the workshop they rated this as 4.815. LGBTQ+ 101 Facilitator Training 424 students have accessed this training Sustainability training 9 attended live and the slides were downloaded 20 ts'mes. Data Handling Training Online training availabl8 at any time., 204 students have a￿Ssed this. Disabilty 101 Training Online training available at any tim8', 250 students have accessed this. Risk Assessment training Online training available at any tim8,. 182 students have accessed this. Tralnlng In 2022 we re-launchéd the Student Awards. We received 253 nominations acros5 10 categories, and the in-person event was attended by 210 attendees. The departments and colleges of our nominees and winners were highly engaged in ￿lebrats'n9 their students. achievements. The diversity of nominees was exceptional (61 % women, 460k graduates. 200A mature students) and we had nominees from 43 colleges. For our 2023 Student Awards, Monday June 12th, we received 224 nominations from 41 of 44 colleges. The ceremony is a free event open to 250 students as an opportunity to celebrate students making an impact across the University and student-community at large. Oxide 0￿de saw an increase of over 220 followers on social media. 3,937 people tuned into Oxide Radio in the final quarter of the year alone, listening for a total of 632,571 minutes, with unique listeners from over 61 countries. This time last year, there were 18 shows in one week. This number is now up to 55 d(fferent shows hosted in week six of Trinity Term. The Oxford Student Total website views: 2022". 960,140 2023 (so far)-. 696,511 In total.. 9,873,206 The highest views per month ever were recorded in February 2023 (196,560 views) 16

OXFORD UNIVERSIry STUDENT UNION Annual Report and Financial Statements For the year ended 31 July 2023 ort of the Trustees continued Achievements & Perfonnance {contlnued}' Top 10 viewed articles in the past year.. 15 minute city plans cause controversy Emma Watson to study at Oxford next academic year For the Love of the Immortal Snail (not published this year) 15-minute neighbourhoods protest Why Straight Men Obsess Over Ryan Reynolds and not Pete Davidson (not published this year) Oxford Union President Ahmad Nawaz Forced to Resign st Hugh's Cancel Ball Riding the Bi-cycle.. The Uncertainty of Bisexualty (not published this year) Oxford thinks woke culture has gone too far Debate.. private schools should be abolished {not published this year) In total. these articles got over 250,000 views this year. Website and Social Media engagement Instagram Current Following.. 8,728 May 2022 Following: 5,768 Increase.. +2,960 Total Post Likes.. 16,006 Post Impressions: 510.229 Facebook Current Following.. 19,415 May 2022 Following: 18,705 Increase.. +710 Total Post Likes.. 644 Post Impressions: 231,009 Twitter Current FOllo￿ng. 13,531 May 2022 Followng.. 13,041 Increase.. +490 Total Tweet Likes: 838 Post Impressions.. 333,772 All social media channels saw net gains in 2022-2023. 17

OXFQRD UNIVERSITY STUDENT UNION Annual Report 2nd Financial Statements For the year ended 31 July 2023 Re ort of the Trustees continued Achievements & Perfomance (continued): Website Following the implementation of the new website in March 2023 alone, the site has received over 122,124 views from 20.800 users, for an average of 5_87 views per user. On the old website, during the period of May 2022-March 2023, Ihe SU received 800,187 page views from 148,099 users across a 10 month span. Freshers, Fair Freshers, Fair 22-23 was a huge success in terms of engagement. The SU saw the attendan increase from previous years to circa 11 k students (vs 9k last year) in addition to a further 2k student stall holders over the 2 days. The overall student survey feedback was very positive with the localion rating highly. Soclal Medla Freshers, online performance was compared and analysed against the same week of the previous month to assess how to the figures compare to a nomial week_ The date range for Freshers, week is October 1 st-october 8th compared to September 1 st-september 8 The days leading up to Freshers, Fair were key at building hype so the SU ran a daily countdown to the event, sharing information and sneak peaks for what was to come. Freshers, week saw an average engagement rate of 5.01•/D across all platforms compared to 3.160/0 forthe same week in September. Post impressions also increased by 400/0 in Freshers, week, allowing the SU to expand theirfallowers by over 250 in just this one week on Instagram alone. Instagram was the key plafform when communicating both the build up and on day comms around Freshers,. This consist@rrt posting allowed a 33QA increase in account reach vs. the same week in September. Engagement peaked on the 6th and 7th of October as expected with the fair being open. Posts shared on these days generated the most likes and highest engagement rates on Instagram. The engagement rate forthese posts was also over 100/9, much higher than the average rate of 5.01 % for the rest ol the week. Website There were over 8,232 new users during Freshers, week, bringing in over 14,000 individual sessions on the website. The Freshevs home page was the most common landing page for students that week. In total, there was 42,791 page views with an average of each session having three page views as opposed to Freshers, Week last year, averaging 2 views per session. student Feedback Student feedback was gathered through an anonymous feedback fonn shared across social media channels and the all-student email to ensure as many students as possible had the opportunity to give their feedback. In total, the SU re￿iVed 85 individual responses. 18

OXFORD UNIVERSITY STUDENT UNIQN Annual Report and Financial Statements For the year ended 31 July 2023 Re ort of the Trustees continued Achievernents & Performance (continued)., The average score for Dverall impressions of the fairwas 6.5110,. When asked for more information, the most Gommon negative feedback was based on how crowded the fairwas. Many students shared this sentiment. saying they found the fair overwhelming, the crowds "pushy" and even in the quiet hours, some students found the fair overstimulating. On the other hand, there was lots of positive feedback on the organisation of the event and the high number of society stalls. Students said the event was 'very streamlined everyone was lovely and passionate about their club. and th8 fair was "engaging and interesting.. The location of the fair scored very highly, re￿[VIng an overall rating of 8.2 out of 10. From the feedback form the SU sees, the society stalls were the most popular part of the fair, and one of the key reasons, students attended the fair, receiving 65 votes. This was closely followed by Yreebies, which received 56 votes. The Sabbatical Officers The biggest strength at Oxford SU is that every year they get to welcome six highly intelligent University of Oxford graduates into their organisation. As a small charity, this is something that many in the third sector would see as an enormous strength. Their student offi￿rS provide challenge, scrutiny, leadership, and currency to the organisation. This year their officers have dealt with many challenges and organisationally the SU know more must be done to support future sabbatical teams. The SU has reformed officer surnmer training to focus on the trends they have seen over recent years in their teams. Through the people and culture subcommittee the SU are creating an innovative Sabbatical Officer Success Strategy. For Oxford SU to succeed they need their Sabbatical officers to SUC￿ed. This is an organisational priority and will be measured by both the Trustee Board and People & Culture committee as a set of KPIS (Key Performance Indicators). Vice Presldent Access & Academic Affairs Academic Representatives The VP AccAff has, in tandem with the VP Graduates, worf<ed to redevelop and strengthen the aGademiG representatives, system. This had been a hitherto overlooked component of the Su's operations, however the offi￿r5 took control of the divisional representative recruitment process and worked wth academic staff across the divisions to clarrfy the expectations of the role. Ultimately 65 students applied for 10 divisional representative roles, far exceeding previous levels of interest in the system. The VP AccAff also redeveloped the training resoLJrces for all academic representatives (i.e both undergraduate and postgraduate) from scratch and delivered this to the divisional representatives, Medical Sciences, Social Sciences and Continuing Education. They also attended divisional board meetings for Social SCien￿s and MPLS (Mathematical, Physical and Life Sciences), in addition to providing additional support to academic representatives throughout the year. 19

OXFORD UNIVERSITY STUDENT UNION Annual Report and Financial Statements For the year ended 31 July 2023 ort of the Trustees continued Achievements & Performance (continued): Centre for Teaching and Learning The VP AGcAff has worked MO￿ closely wlth bodies within the university, particularly the Centre for Teaching and Leaming. This has proved to be very successful as the SU and CTL share a number of similarities, and from the Su's perspective working alongside CTL has proven invaluable for instilling a richer understanding of education policy and pedagogy. This culminated in an updated version of the Policy & Guidan￿ on Student Engagement and Representation which was brought to the Quality Assurance SuEFCommittee, which stated the importance of doubling the number of postgraduate Divisional Representatives based on the feedback of the current cohort, as well as instilling the practice of 'students as partners, in providing feedback and being part of the decision-making prO￿$S across departments. Educational Recordings Policy Campaign Following the University's introduction of the Educational Recordings Policy, the VP A￿Aff convened a town hall and a group of studerrt campaigners to discuss and promote good practic6 across departments, particularly with a view to promoting a more inclusive and consistent policy for disabled students {as supported by the Su's Disabled Students Campaign and Education Policy Support). Thi$ has resulted in further meetings with staff from a number of departments to raise the considerations of students, and create dialogue to explore where effective student academic representation has resulted in well-received changes to policy. Target Schools In lieu of a functioning Target Schools committee prior to Trinity term, the VP AccAff ensured that skeleton activities continued throughout the year. This primarily involved maintaining and updating the 'Altemative Prospectus, online resource with support from JCR Access officers, and by liaising with numerous college outreach staff (and University Admissions and Outreach) in order to as￿rtain how best the SU and newTarget Schools committee can support existing initiatives. Departmental Class Discussions Thè VP AccAff fomed a partnership with the Ruskin School of Art where termly forums with students and staff members are facilitated by the department and the officer. These have provided opportunities for wide ranging discussions, often prompted by the experiences of students. about their experiences and the place of Glass within academia and the creative wodd. These fruifful conversations have led to further discussions about how the SU and colleges can support outreach efforts by the Ruskin, and also discussions wth the Centre for Teaching and Leaming about how similar events can be held across divisions wilh a viewto gamering a more substantial understanding. 20

OXFORD UNIVERSITY STUDENT UNION Annual Report and Financial Statements For the year ended 31 July 2023 ort of the Trustees continued Achievements & Perfomiance (continuedl: Arts Week Though Arts Week is mentioned in the events section above, this was one of the VP WEO'S biggest projects of the year, and took a tremendous amount of organisation and marketing to establish new relationships. The VP WEO hopes to make Arts Week an annual initiative, with view to conb'nually engage the huge creative scene at this university. Inquiry into Workload and Wellbeing After a survey consulting students about the possibility of a Reading Week came about last year, the VP WEO wanted to carry on the conversation. After consulting the Centre for Teaching and Learning, the Wellbeing Services, the Disability Advisory Servi￿, the Welfare Forum. Education Policy Support and many sludent representatives, the VP WEO has discovered that there is hardly any data on the specific role of workload in the well-being of Oxford students, and this data would be useful in influencing policy dec¢sions and campaigning for a reading week, rf the student body wanted rt. The VP WEO had a comprehensive session during the handover to make sure that the foundational infomation gathering is built upon for future campaigning efforts. student Mental Health Workshop The VP WEO attended a day-long mental health workshop with a number of OxFordshire's mental health servI￿s, Oxford University s Well-being Services as well as Oxford Brookes University's Well-being Services. As the only student representative there, the VP WEO was able to give insight into what affects student mental health, and make a case to keep compassion and understanding at the centre of the combined approach. The VP WEO has collaborated with the VP Grads and the LGBTQ+ Staff NeI￿Ork to develop ideas for a stafflstudent buddy system for LGBTQ+ postgraduate students and members of the ne￿ork. This should enable more community building and clarify to postgraduat8s what the network can do for them. This went through the advisory group and a WOTking group for this project will be created for piloting in 23-24. Vice Presldent Graduates The V. P Graduates has workèd the whole year on the cost of living fund. This began by designing the suNey that received input from the Central Universty on the questions and was rolled out in Hillary receiving a response of over 1 OO/D of the PG population (1,512 respondents). This has now been sent across to the University as a potential paper. As a part of the Russell Group Students, Union. V. P Graduates attended hvo residential. one at UCL and the other in Sheffield, and three online sessions where Iwo Sabbalical Officers from each of the Unions were present. This gave an opportunrty to understand the key issues across board from which cost of living, mental wellbeing. and sustainability emerged as the key areas SU priontised this year. The Russell Group connection has been extremely helpful in having an idea of what other Universities have b8en acGornplishing and the cost of living fund proposal was a key issue that drew from there. 21

OXFORD UNIVERSITY STUDENT UNION An nual Report and Financial Statements For the year ended 31 July 2023 Re ort of the Trustees continued Achievements & Perfomiance (continued): The V. P Graduates initiated the process of creating another Divisional Representative for PGS, now splitting the role be￿een PGR (Postgraduate Research) and PGT (Postgraduale Taught). The need for this arose because of the observations of the flaws within the system that came to light as both the academic V. Ps tried to streamline the System. The Divisional Representatives were overwhelmed with more than should be expected and the needs of one group of students was being overlooked. This addition will remove both those issues, create a smooth handover, and facilitate easier communication with the course Representatives. One ofthe most critical contributions to Education Committees included feedback given on the consent workshops that were piloted through a consultation with the student campaigns and the MCR Presidents most of who preferred a professional ratherthan peer to peertraining and gave concrete advice on how to make training more LGBTQ+ friendly. Anotherworth mentioning was the detailed issues that were relayed to the Graduate Committee regarding staff-student relationships and the unique impact these have on the PG Community with lines in certain areas being rather blury. In conjunGtion with the CTL'S Academic Skills, and the Language Cenlre, the SU worked on English language leaming for academic English and supporting the work done by the University. Similarty, the work done by the University on Academic Futures Scholarships has had the full support of the V. P Graduates. Piloting the in-person typed exams has been hugely beneficial forthe PG Community. The NDPH and SAME Department Reviews have contributed majorly and been inspired by student feedback. V. P Graduates increased MCR Prescom participation and conneCt￿On with the SU signrficantly from the previous years. The DPhil and drinks event held in conjunction with the Bodleian was suc￿Ssful in tts robust interaction with the DPhil student body. Vice President Charlties and Community Unlversity Sustainability The Oxford SU VP C&C has been inputting into various topics on university sustainability, including on the development of sustainable food policy, and the structuring Df a curriculum sustainability baseline audit, as well as numerous other items which have been brought to ESSC (Environmental Sustainability Subcommittee). The VP C&C also engaged with students on these issues, for example, through running 'Planet Pledge, during Green Action Week. The VP C&C was campaigning for the University to cut ties with the fossil fuel industry and slop any form of social license the University may be giving the industry. Which she submitted a full policy proposal to ESSC following committee member consultation. 22

OXFORD UNIVERSITY STUDENT UNION Annual Report and Financial Statements For the year ended 31 July 2023 ort of the Trustees continued Achlevèments & Perfomiance (continuedl. In 22-23 the VP C&C also encouraged OUEM (Oxford University Endowment Management) to engage across more robustly the whole portfolio on net zero. She encouraged for more fossil fuel sector specific engagement (including banks, utilities companies. insurance companies), and investing more in solutions to Ihe climate crisis through papers presented to Chair of the Universty Ethical Investment Representation Review Subcommittee. OUEM have now suggested they may be able to increase disclosure of engagement in their next report, and potentially develop a more systematic set of engagement questions. The VP C&C has been raising concems about slow progress in this area and the need for Glearer govemance. College Sustainabillty Demands This year, one of the VP C&C's priorities was college sustainability, wth key manifesto pledges relating to this. After attending Gross-college sustainability committees in Michaelmas tem, the SU: in consultation with college Environment and Ethics representatives, developed Golle9e Sustainability Demands. These demands aimed to get colleges to take at least as ambitious action as the central university has committèd to on sustainability relating to net zero and biodiversity targets. Strategies to achieve these induding divestment. and the appropriate enablers to enact these strategies. After releasing the demands in timing with COP27, the VP C&C communicated wth colleges and students on these demands throughout Hilary term. Following a suggestion from college Environrnent reps, the SU wort(ed to produce traffic light tracker to measure progress on the demands. To do this the SU went through every college's website, and colleges were then sent their assessed traffic lights at the end of March 2023, 50 they could feed in any updates and corrections before they were published in mid-April. At least 15 colleges productively engaged with the SU during this period_ The SU continue to update this tracker when colleges update their progress. Green Impact for Student Unions The SU have joined GISU (Green Impact for Student Unions) and recently just submitted their first toolkit of evidence for assessmenl. They have taken sustainability Gommitments to Trustee Board including commitment to Scope 3 net zero and Fairtrade commitment. Cycle Safaty The VP C&C has been working throughout the year on cycle safety, working with the University's Vision Zero Working Group. During the summer. Ihe VP C&C worked with the University on developing leaflets for all Freshers on cycle safety. communicating the University's new £10 helmet subsidy, and helping to arrange for an HGV to be at Freshers Fair to educate people about the blind spots on HGVS, whilst handing OLrt free high vis and bike lights. The SU then also collaborated with the University on a cycle safety event at Radcliffe Square, and have this tenn been discussing ways of developing a year-round programme of events. 23

OXFORD UNIVERSITY STUDENT UNION Annual Report and Financial Statements For the year ended 31 July 2023 Re ort of the Trustees continued AGhievements & Perfomiance (continued): Bridging Town and Gown The VP C&C co-organised the Oxford SU Social Action Fair with Oxford Hub, planning and coordinating Ihe event. As highlighted elsewhere in the report, this was a huge success, and something the SU hope to expand. The VP C&C has also worked closely with the local campaign to Keep Campsfield Closed, following a motion passing through the Student Council for the SU to join the Gampaign. This campaign opposes the reopening of the Campsfield immigration detention entre in Kidlington, adjacent to the University's Begbroke development. The SU has been working to bring this campaign to the Universtty's attention, most recently through the hosting of a campaign exhibition at the Student Union. Finally, the VP C&C has also been consulting students on Oxford City Council's 'Student Friendly Oxford, project so il can be well-infomed by students. Clothes Swap The SU were pleased to run a clothes swap event at the end of May which saw over 200 sludents attend. This event was a real success and was immensely popular. One attendee commented that it was an 'absoJuto God sond of event., FUTURE PLANS Oxford SU is an aspirational organisation and whilst their building is already a hub for so many students wtth space bookings at an all-time high, they know to grow this offer they must think in an innovative way and take some well-thought strategic decisions that takes them deeper into the consciousness of sludents. The SU wants to be a hub for Student Societies to hold meetings and socialise. This is also what the Society Rep Coms say they want from Oxford SU. The SU Campaigns have driven genuine change through the institution and beyond, they deserve a funding model that gives them more freedom to shape the experience of their members and create networks of support across the Universily. The SU know that from a Communications perspective they need more resilience, and their hardworking staff need the right training to be able to deal with the pressures of press scrutiny that Oxford SU faces regularly. They also need to build in strategic comms experience. Despite being one of the smallest staff leams per student in the sector, they know they operate under a level of scrutiny like no other SU. 24

OXFORD UNIVERSITY STUDENT UNION Annual Report and Financial Statements Forthe year ended 31 July 2023 ort of the Trustees Continued FINANCIAL REVIEW In 2022-23 the surplus on total funds was £202,95712021-22.' 8 deficit of £2,114). Total funds are made up of restricted and unrestricted funds. The unrestricted funds comprise general ftjnds and the pension reseNe. At the year end, the balan￿ of general funds decreased to £127.368 (2021-22.. a balance of £254,938). The pension fund defiat balance moved to £9.082 (2021-22.. a deficit balance of £344,214). The sU￿[uS balan￿ on restricted funds decreased to £22,224 (2021-22.. a surplus balan￿ of £26,829). The total funds surplus balance increased to £140,510 (2021-22.. a deficit balan￿ of £62,447). Oxford SU is in a net surplus position whilsl accounting for pension scheme deficit liability. This liabilty represents the net present value of estimated deficit contributions over the agreed funding plan to 2025 and does not represent an immediate cash oufflow. Excluding this, Oxford SU is in a net asset position both overall and on unrestricled funds. Oxford Su's reserves policy sets the target level of reserves at three months, total nning costs less 75 /0 of the grant funding agreed with the University of Oxford for the same period. This gtves a target level of reserves of £109,334, the regulator of charities in . England and Wales, the Commission expects trustees to decide, publish, implement and monitor their charity's reserves policy so that they can comply with their legal duties. This figure applies to unrestricted general funds, which at the year-end stood at £127,368 (General funds are therefore, above the target level). In view of this, the Trustees had planned a deficit on general funds of £78,934 in 2022-23, as part of a strategy to utilise its reserves and brtng them closer to the target level. The decrease, from £254,938 at the beginning of the year to £127,368 at the end of the year, was rather More aggressive then originally planned. After success of last yearfs commercial endeavors, the board pushed forward wrth hopes of furthering the company's status in the communty. Unfortunately, these activities, whilst promising, didn't lead the company b success and a regression in our commercial arm took place in 2022-23. The business also took on some infrastructure upgrades within the yearthat exceeded budget due to timeline extensions. These standard trading actions were impacted further by a significant increase in staff pay, with the ever-rising inflation the company strived forward with supporting staff. They did so whilst treading the line of not damaging the longevty of the company. At the end of the year the company was infomed by its biggest funder, that they would not be able to support in the ways they previously hoped due to the inflationary effects they were also sutrering. It was on this news, that the company decided that they could no longer operate so close to their reserves target. A short-tem action plan was laken by the board to strip back the company and develop a foundation model that would provide financial groWLh until the company was suitably back above the reserves target. Ivs with this in mind that the board approved a budgeted surplus plan of £17,935 for 2023-24 Oxford SU also held restricted funds at year end of £22,224 (2022.. £26,829). A portion of this relates to funds raised for Oxford Raise and Give (RAG). These funds are not available for the general purposes of Oxford SU. The residual value is made up Df the fixed assets the company holds on its books. The activities of OSSL Limited, Oxford Su's trading subsidiary, are consolidated with these financial statements. 25

OXFORD UNIVERSITY STUDENT UNION Annual Report and Financial Statements For the year ended 31 July 2023 Re ort of the Trustees Continued Key risks and uncertainties The board of trustees considers the following to be the key risks that Oxford SU needs to focus on. These are monitored by senior managers and trustees on a regular basis. Pension scheme deficlt The current funding shortfall on the Universty of Oxford Staff Pension Stheme requires significant, but currently affordable, annual payments. A clear strategy is in place, overseen by the trustees of the scheme, to recover the deficit. Liquidity Oxford Su's objective in managing liquidty risk is to ensure that it can meet its financial obligations as and when they fall due. Oxford SU expects to meet its financial obligations through operating cash flows. In the event that the operating cash flows would not cover all the financial obligations, Oxford SU has Credit facilities available. Given the cash out flow this year and cash balan¢e held at year-end, Oxford SU is in a posilion to meet its commitments and obligations as they come due. Customèr credit exposure Oxford SU may offer credtt terms to ts customers which allow payment of the debt after delivery of the goods or services. Oxford SU is at risk to the extent that a custorner may be unable to pay the debt on the specified due date. This risk is mtkngated by the strong on-going customer relationships. Funding Oxford Su's principal funding sources are grant income from the Universty of Oxford. and its commercial activities. University funding has been provisionally agreed until 2025-26. Income from Oxford Su's ¢ommercial activities is increasing. The trustees corstinue to monitor these SoUr￿S of income closely. STRUCTURE, GOVERNANCE AND MANAGEMENT The structure of the organisation The trustees who served during the year and Sin￿ the year end are set OLrt on page 1. The board of trustees as chartty trustees is responsible for the overall perforrnan￿, strategic direction and management of Oxford SU and (subjed to relevant legislation, its articles and bye-laws) may exercise all the powers of Oxford SU. The board is made up ot. up to six sabbatical trustees, up to five stuéent trustees, and up to fcur external trustees. 26

OXFORD UNIVERSITY STUDENT UNION Annual Report and Financial Statements For the year ended 31 July 2023 The trustees are responsible for approving the strategy, major plans (including the annual budget and long-term financial goals) and policies of Oxford SU and for ensuring that these are implemented via the chief executive. Sabbatical trustees are elected by the student members. Their main remit is to undertake Oxford Su's representative and campaigning work. Student trustees are similarly elected by the student members, ensuring that the sludent members are directly represented on the board. External trustees are selected by the nominations committee and then ratified by Oxford Su's Council. Their main role is to provide a long-terni strategic view to the board. Sabbatical trustees and student trustees hold office for one year. and external trustees for up to four years. Student trustees and extemal trustees are eligible for re-election. There are clear distinctions bebNeen the role of trust8es and the executive team, led by the chief executive. The board of trustees holds a range of reserved matters and delegates ￿rtain authority to the executive team in order to run the organisation efficiently. Matters such as policy, strategy and budgets are prepared by the executive team for consideration and approval by the trustees, who then monitor the implementation of these plans. The finan￿ and risk subcommittee is a board subcommittee with clear ternis of reference, and which reports directly to the board of trustees. The finan￿ and risk subcommittee has delegated responsibility to manage the finances of Oxford SU, including monitoring expenditure and developing budgets and financial policies. It also takes a lead role in the managernent of risk. The board of trustees makes appointments to this committee. For new truslees, Oxford SU has a wde-ranging induction programme. The programme is led by the existing external trustees and the chief executive. Each new trustee is given an induction guide and supported into their n6w role through a series of induction meetings and briefings. These cover the core aspects of their responsibilities, including strategy, finan￿, legal matters and the relationship between the trustees and the chief executive. New trustees are also given a copy of the charity commission guidance. The diair attends specialist training to support their role. Under the Education Act 1994, the University of Oxford has a statutory duty to take such steps as are reasonably practicable to ensure that Oxford SU operates in a fair and democratic manner and is held to proper account for its finances. Oxford SU, therefore, WDrt(s alongside the University of Oxford in ensuring that its affairs are properfy conducted and that the educational and welfare needs of Oxford Su's student members are met. This is done through a subcommittee of Education Committee of the University of Oxford- Joint Subcommittee of Education Committee and Student Members How management works at Oxford SU Day to day operational and staff management is delegated to the chief executive who is responsible to the trustees for strate9y,' Its development. implementation and operational perfomance. The chief executive is supported by Dther members of the senior management team. During the year 2022-23 this comprised= Chief Executive.. Dom Anderson Head of Advice Wellbeing & Student Engagement.. Hanne Clark Head of Finance and OrganisatlDnal Effectiveness.. Kristy-Anne Field 27

OXFORD UNIVERSITY STUDENT UNION Annual Report and Financial Statements For the year ended 31 July 2023 Oxford SU employs 18 full time equivalent salaried staff (was 19 employees). The chief executive oversees the pay and benefrts of staff, ensuring a fair and consistent approach that relates to the level of responsibilities undertaken. Each year, along with the salaries of other staff, key management salaries are subject lo a standard inffationary uplift decided by the Finance and Risk Subcommittee depending on the ¢ontext of that year. The pay for the chief executive is set by the board and reviewed annually. Pay lor sabbatical trustees is also reviewed by the board. Where the relevant person stts on the board of trustees, they are not present while the relevant discussions take pla￿. Risk management The trustees have given consideration to the major risks to which Oxford SU 1$ exposed and have satisfied themselves that systems or prO￿dureS are established in order to manag8 those rtsks. The risk register is monitored by the Finance & Risk Subcommittee and discussed annual al the full board or more frequently if needed. Fundralsing Oxford SU only carries OLrt fundraising adivities to raise fijnds for Oxford Raise and Givè (RAG). Funds are raised through fundraising events and through sponsored challenges carrted out by students. All fundraising activities are carried out by students with assistance from staff at Oxford SU. No complaints relating lo fundraising activities have been received by Oxford SU during this financial period. Oxford SU does not currently subscrite to any specific fundraising standards or schemes for fundraising regulation but considers that it has set appropriate standards for the operation and management of its fundraising activities. In particular, Oxford SU considers that its processes and controls should ensure that vulnerable people and other members of the public are protected from any unreasonable intrusion on a person's privacy and that no fundraising activities would be unreasonably persistent or place undue pressure on a person to give money or oth6r propety. Oxford SU does not CUrren￿Y subscribe lo any specific fundraising standards or sohemes for fundraising regulation but considers that it has set appropriate standards for the operation and management of its fundraising activities. In partiujlar, Oxford SU considers that its processes and controls should ensure that vulnerable people and other members of the public are protected from any unreasonable intrusion.on a person's privacy and that no fundraising activitie5 would be unreasonably persistent or place undue pressure on a person to give money or other propety. STATEMENT OF TRUSTEES. RESPONSIBILITIES The Trustees (who are also directors of Oxford University Student Union for the purposes of Company law) are responsible for preparing the Trustees, Annual Report and the financial statements in accordance with applicable law and United Kingdom Generally A￿pted Accounting Practice (United Kingdom Accounting Standards). 28

OXFORD UNIVERSITY STUDENT UNION Annual Report and Financial Statements For the year ended 31 July 2023 Company Saw requires the Trustees to prepare financial statements for ea¢h financial year. Under Gompany 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 charitable company and the group and of the incoming resources and application of resources, including the income and expenditure, of the charitable group for that period. In preparing these fsnancial statements. the Trustees are required to.. seleGt suitable accounting policies and then apply them consistently-, obseTve the methods and principles in the Chartties SORP., make judgments and estimates that are reasonable and prudent- state whether applicable UK accounting standards have been followed, subject to any material departures disGlosed and explained in the finanGial statements., and prepare the financial statements on the going concem basis unless it is inappropriate to presume that the Charitable company will ¢ontinue in business. The Truslees are responsible for keeping adequate accounting records that are sufficient to show and explain the charitable ¢ompany's transactions, disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006 and the provisions of the charitys constitution. They are also responsible for safeguarding the assets of the charity and the group and hence for taking"reasonable steps for the prevention and detecticn of fraud and other irregularities. PROVISION OF INFORMATION TO AUDITOR In accordance with company law, as the company's directors, we certify that.. so far as we are aware. there is no ￿levant audit infomiation of which the company's auditors are unaware-, and as the directors of the company, we have taken all the steps that we ought to have taken in order to make ourselves aware of any relevant audit information and to establish that the charity's audrtors are aware of that information. AUDITOR The auditor, Crowe U.K. LLP, will be proposed for reappointment in accordance wtth section 485 of the Companies Act 2006. The trustees have agreed on these financial statements which have taken advantage of the small companies exemptions provided by section 415A of the Companies Act 2006. Approved by the trustees and signed on their behalf by- Chair of trustees.. M)Pf Date.. Eo . i(4 29

Crowe CroweUK LLP AquisHou5E 49.51 Blyve Street Reading Berkshire RGI IPL Tel: [phone] [phone] INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF OXFORD UNIVERSITY STUDENT UNION Oplnlon We have audtted the financial statements of Oxford University Student Union for the year ended 31 July 2023 which comprise the Consolidated Statement of Financial Activities, the Consolidated Balan￿ Sheet, the Company Balance Sheet, the Consolidated Cash Flow Statement and notes to the financial statements, Including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and Unrted ngdom Accounting Standards, including Financial, Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland, (the United Kingdom Generally Accepted Accounting Practi￿). In our opinion the financial statements-. give a true and fair view of the state of the group's and the charitable CDmpanVs affairs as at 31 July 2023 and of Ihe group's income and expenditure for the year then ended., have been properly prepared in accordance with the United Kingdom Generally Accepted Accounting PractI￿,- and have been prepared in accordance with the requirements of the Companies Act 2006 and the Charities AGt 2011. Basis for opinion We conducted our audit in accordance with Intemational Standards on Auditing {UKI (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 group in accordance wilh the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC'S Ethical Standard, and we have fulfilled our other ethical responsibilities in accordan￿ with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Conclusions relating to golng concern In auditing the financial statements, we have concluded that the trustees, use of the going concem basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have performed, we have not identrfied any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity'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 responsibiltties of the trustees with respect to going concern are described in the relevant sections of this report. 30

Crowe Crowe U.IC LLP Cltarler8dAccoup￿Q￿ts Aquis House 49-51 B1￿￿ve Street R¢&ding B¢rE$hi￿ RGI IPL Tcl. +44 {0)118 959 7222 F&K'. [phone] INDEPENDENT AUDITORS, REPORT TO THE MEMBERS OF OXFORD UNIVERSITY STUDENT UNION (CONTINUED) Other information The trustees are responsible for the other information. The other information comprise5 the infomiation included in the annual report, other than the financial statements and our auditorfs report thereon. Our opinion on the financial statèments does not cover Ihe other information and, except to the extent otherwise explicitly stated in our report, we do not express any fomi of assurance conclusion thereon. Our responsibility is to read the other infomiation and. in doing so, consider whether the other inforTnation is materially inconsistent with the financial statements or our knowledge obtained in the aud(t or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to delermine vwhether this gives rise to a malerial misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard. Opinion on other matter prescribed by the Companies Act 2006 In our opinion based on the work undertaken in the course Df our audtt the infomation given in the trustees, annual report for the financial year for which the financial staternents are prepared is consistent with the financial statements,. and the trustees, annual report has been prepared in accordance with applicable legal requirements. Matters on which we are requlred to report by exceptlon In light of the knowledge and understanding of the charEtable Gompany and its environment obtained in the course of the audit, we have not identified material misstatements in the trustees, annual report. We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you rf, in our opinion.. adequate accounting records have not been kept, or r9tums adequate for our audit have not been received from branches not visited by LSS. or the financial stalements are not in agreement wrth the accounting records and returns. or certain disclosures of trustees, remuneration specified by law are not made. or we have not received all the infomation and explanations we require for our audit- or the trustees were not entitled to prepare the financial slatements in accordance with the small companies regime and take advantagg of the small companies exemption in preparing the Trustees Annual ReporL 31

Crowe Crowc U.K. LLP CharieredAce4X4rtronts Aquis House 49-51 Blagrave Stre Reidittg Be￿￿1r¢ RGI IPL Tel-. t44101118 959 7222 F&x'. [phone] wi¥w.ertsw¢.¢om INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF OXFORD UNIVERSITY STUDENT UNION (CONTINUED) Responslbilities of trustees As explained more fully in the trustees, responsibilities statement set OLrt on pages 28-29, the trustees are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such intemal control as the trustees determine is necessary to enable th8 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 group's or the charitable company's ability to continue as a going concem, disclosing, as applicable, matters related to going concem and using the going concem basis of accounting unless the trustees either intend to liquidate the charitable Gompany or to cease operations, or have no realistic altemative bLrt to do so. Auditoffs responsibilities for the audit of the financial statements Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatemert whether due to fraud or error, and to issue an auditorfs report that includes our opinion. Reasonable assurance is a high level of assuran￿. but is not a guarantee that an audit conducted in accordan￿ with ISA5 (UK) wll aknys detect a material misstatement when it exists. Misstatements can arise from fraud or emr and are considered material rf, individualty or in the aggregate, they could reasonably be expected to Influen￿ the economlc decisions of users taken on the basis of these financial statements. Irregularities, induding fraud, are instan￿$ of non-compliance with laws and regulations. We design procedures in line with our responsibilrties. oirth'ned above. to deted material misstaternents in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting i￿egUlarl￿eS, including fraud is detailed below.. We obtained an understanding of the legal and regulalory frameworks wtthin thich the charitable company operates, focusing on those laws and regulations that have a direct effect on the detemiination of material amounts and disclosures in the financial statements. The laws and regulations we considered in this context were the Companies Ad 2006 and Charities Act 2011 together wth the Charities SORP (FRS 1 D2) 2019. We assessed the required complian with these lay￿ and regulations as part of ouraudit procedures on the related financial statement items. Auditing standards limit the required audit procedure5 to identify non-complian￿ with these laws and regulations to enquiry of Ihe Trustees and other management and inspection of regulatory and legal correspondence, rf any. 32

1t. , . m, . • / . rowe . c

Crowe U.K. LLP Chartered Accountants Aquis House 49-51 Blagrave Street Reading Berkshire RGI IPL Tel: [phone] Fax: [phone] www.crowe.com

INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF OXFORD UNIVERSITY STUDENT UNION (CONTINUED)

We identified the greatest risk of material impact on the financial statements from irregularities, including fraud, to be within the override of controls by management. Our audit procedures to respond to these risks included enquiries of management about their own identification and assessment of the risks of irregularities, sample testing on the posting of journals, reviewing accounting estimates for biases, reviewing regulatory correspondence with the Charity Commission and reading minutes of meetings of those charged with governance.

Owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements, even though we have properly planned and performed our audit in accordance with auditing standards. We are not responsible for preventing non-compliance and cannot be expected to detect non-compliance with all laws and regulations. These inherent limitations are particularly significant in the case of misstatement resulting from fraud as this may involve sophisticated schemes designed to avoid detection, including deliberate failure to record transactions, collusion or the provision of intentional misrepresentations.

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.orq.uk/auditorsresponsibilities. This description forms part of our auditor's report.

Use of our report

This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.

Alastair Lyon Senior Statutory Auditor· For and on behalf of Crowe UX. LLP Statutory Auditor

Aquis House 49-51 Blagrave Street Reading Berkshire RG1 1 PL

Date 2 May 2024

33

OXFORD UNIVERSITY STUDENT UNION Annual Report and Financial Statements For the year ended 31 July 2023 Consolidated Statement of Financial Activities Note Unrestricted Funds Restricted Total Funds Funds Total Funds 2023 2023 2023 2022 INCOME FROM: Donalions 834,000 32,069 48,242 882,242 32.069 850,519 28,515 Infrastructure support in kind Other trading acttvitiès: Commercial activty Charitable activlties for students: Wetfare Olher income 198,201 198,201 213,664 9,276 18,680 1,092,226 9,276 18,680 1,140,468 8,174 39,028 1, 139,900 Total income 48,242 EXPENDITURE ON: Ralsing funds: Commercial activities Charitable activlties for students: Advice and representation Welfare 210.423 210,423 189,641 456,360 217,881 52,847 509,207 217,881 691, 770 260,603 Total expenditure Nel expenditure and movement in funds Funds brought forward 884.664 52.847 937.511 1, 142,014 207,562 14,605Tr 202,957 (2,114) {89,276 26.829 (62,4471 (60,333) Funds carried forward 118,286 22,224 140,510 (62,447) All operations are continuing. The notes on pages 38 to 55 form part of these accounts. 34

OXFORD UNIVERSITY STUDENT UNION Annual Report and Financial Statements Forthe year ended 31 July 2023 Consolidated Balance Sheet as at 31 July 2023 FIXED ASSETS Note 2023 2022 Tangib18 assets 10 11,729 8,207 11,729 8,207 CURRENT ASSETS Stocks 11 2,896 2,965 293,482 Debtors 12 293,793 Cash at bank and in hand 145,710 247,321 442,399 543, 768 CREDITORS". Amounts falling du8 within one year 13 1304,536) (270,208) NET CURRENT ASSETS 137,863 273, 560 TOTAL ASSETS LESS CURRENT LIABILITIES 149,592 281, 767 LONG TERM LIABILITIES Pension scheme funding deficit 14 19,082) (344,214) NET ASSETS I UABILITIES 140,510 (62,447) REPRESENTED BY RESTRICTED FUNDS 15 22,224 26, 829 UNRESTRICTED FUNDS General funds 16 127,368 254,938 Pension resetve 16 19,082) (344,214) TOTAL FUNDS 140,510 (62,447) The notes on pages 38 to 55 form part of these a¢Gounts. The surplus for the financial year dealt with in the financial statements of the parent company was £222,180 {2022-. deficit of £18,820). These accounts were approved and authorised for issue by the trustees and signed on their behalf.. Chair of trustees.. V4I¥F LLWÈ¥KJ Date.. 30 L'W. ILP 35

OXFORD UNIVERSITY STUDENT UNION Annual Report and Financial Statements For the year ended 31 July 2023 Com an Balance Sheet Registered Company number 07314850 as at 31 July 2023 FIXED ASSETS Note 2023 2022 Tangible assets 10 11,729 8,207 11,729 8,207 CURRENT ASSETS Stocks 11 2,896 2,965 261,459 240,519 Debtors 12 303,827 141.567 Cash at bank and in hand 448,290 13 {296.873) 504,943 CREDITORS: Amounts falling due within one year (237,052) NEf CURRENT ASSETS 151.417 267,891 TOTAL ASSETS LESS CURRENT LIABILITIES 163,146 276,098 LONG TERM LIABILITIES Pension scheme fvnding deficit (9.082) (344,214) NET ASSETS I LIABILITIES 154,064 (68,116) REPRESENTED BY RESTRICTED FUNDS 15 22,224 26.829 UNRESTRICTED FUNDS General funds 16 140,922 (9.082) 249,269 (344,214) Pension reserve 16 TOTAL FUNDS 154.064 (68, 116) The notes on pages 38 to 55 fomi part of these accounts. These accounts were approved and authorised for issue by the trustees and signed on their behalf Chair of trustees.. V4iPr C LÉAKA EYVT Date.. BO .0 4. LLk 36

OXFORD UNIVERSITY STUDENT UNION Annual Report and Financial Statements For the year ended 31 July 2023 Consolidated Cash Flow Statement Note 2023 2022 Cash flows from operating activltles Net rAsh providedlused by operating activtties 19 191,770) 9,318 Cash flows from investing actlvltles Payments to a¢quire of fixed assets 10 (9,841) (8,696) Net cash used In investlng actlvlties 101611 622 IDecrea5e)Ilncrease in cash and cash equlvalents In the year {101,611) 622 Cash and cash equivalents brought forward 247,321 246,699 Cash and cash aquivalents Carried forward 145,710 247,321 The notes on pages 38 to 55 fomi part of these accounts. 37

OXFORD UNIVERSITY STUDENT UNION Annual Report and Financial Statements For the year ended 31 July 2023 Notes to the Financlal Statements Company Infomiation Oxford University Student Union {'Oxford SU,) is a charitable Gompany limited by guarantee, incorporated in England and Wales. The address of its registered Offi￿ is 4 Worcester Street. Oxford, Oxfordshire, OX128X. Oxford SU is a students, union within the meaning of the Education Act 1994. It is devoted to the educational interests and welfare of the students of the University of Oxford {the'university') and exisls to further the educational purposes of the university. Basis of preparallon The financial statements have been prepared in accordance y￿th Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to Gharrties preparing their accounts in accordan￿ with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2015) ('Charities SORP'I, the Financial Reporting Stsndard applicable in the UK and Republic of Ireland CFRS 102,) and the Companies Act 2006. Oxford SU meets the definition of a public benefrt entyty under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note. The financial statements are presented in Sterling {£). The group financial statements ¢onsolidate the financial statements of Oxford UnNersty Student Union and its subsidiary undertaking drawn up to 31 July each year. Going concern Oxford SU is in a net surplus position which is lowered as a result of the pension scheme deficit liabi1sty- This liabilty represents the net present value of deficrf( contributions over the agreed funding plan to 2023, and does not represent an immediate cash oufflow. Before the pension scheme deficit liability Oxford SU has positive funds of£149,59212022.' £281,767). The Trustees have a reasonable expectation that Oxtord SU has adequate resources to continue in operational existence for the foreseeable future. In making their assessment the Trustees have considered the impact on the business of current changes to inflation rates including the abilty of Oxford SU to continue to ￿rry out rts chaiitable objectives, the impact on fulure income and cash wllections and the financial position of the wider group. They continue to believe the going GOn￿M basis of accounting appropriate in preparing the annual Financial Statements. Sign•firAnt judgemerts and estimates Preparation of the financial statements requires management to make signtficant judgements and estimates. Thè items in the finanual statements where these judgments and estimates have been made include.. Valuation of a present value of future pension deficit contributions In accordan￿ wth the requirements of FRS 102. Oxford SU has made provision for the present value of required future pension deficit contributions. The contributions required are estimated by management with the assistance ofa qualified actuary. The present value is then calculated using an appropriate discount rate. Further details of the estimate, including the key assumptions used, are gtven in note 14. 38

OXFORD UNIVERSITY STUDENT UNION Annual Report and Financial Statements For the year ended 31 July 2023 Notes to the Financial Statements continued Accounting policies Income All income and capital resources are recognised in the accounts when entitlement to the income or endowment arises, there is a probable economic benefit to Oxford SU and the amount can be reliably quantified. The infrastructure support provided by the university is accounted for as income and expenditure of the year at an estimated value to Oxford SU by reference to the altematives available on the commercial market. Grants are accounted for under the perfomiance model as pem)itted by the Charity SORP. Expenditure Expenditure is acGrued as soon as a liability is considered probable, discounted to presenl value for longer-term liabilities. Expenditure inGludes irrecoverable VAT and comprises the direct and indirect costs of delivering public benefit. Expenditure on raising funds comprises the costs associated with attracting voluntary income and the costs of commercial activities of OSSL Limited. Charitable expenditure comprises those costs incurred by OxFord SU in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them. Governan￿ costs include those costs associated with meeting the constitutional and statutory requirements of Oxford SU and include the audit fees and costs linked to the strategic management of Oxford SU. All costs are allocated behmeen the expenditure categories of the statemenl of financial activities on a basis designed to reflect the use of the resource. Costs relating to a particular activity are allocatèd directly, however, salary costs are apportioned on the basis of time worked on each activity. Fixed assets and depreciation Fixed assets comprise major items of equipment. Fixed assets are stated at cost, net of depreciation and any provision for impaimient. The useful economic life of all assets is deemed to be lour years over which depreciation is charged on a straight line basis. In the period of acquisition, a full yeaffs depreciation is Charged. An asset purchased with a cost of over £1.000 are capitalised. Expenditure on asset costing under £1.000 is recognised as an éxpense in the year of purchase. Stocks stocks are stated at the lower of cost and net realisable value. In determining the cost of goods purchased for resale the first in first out basis is used. Debtors Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair val(Je, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment. 39

OXFORD UNIVERSITY STUDENT UNION Annual Report and Financial Statements Forth8 year ended 31 July 2023 Notes to the Financial Statements continued Ac¢ounting policies {continued) Credltors Short-term trade creditors are measured at the transaction price. Other finanaal liabiltbes, are measured initially at fair value, net of transaction costs, and are Measured subsequentiy at amortised cost usin9 th8 effeclive interest method. Financial Instruments Basic financial instruments include debtors and creditors. Debtors and creditors are initially recognised at transaction value and subsequently measured at amortlS8d cost. Taxation Oxford Su's profrts are not liable to taxation so long as they are derived from trading wtth junior members Df the universty. No provision has been made for a current or deferred tax wtthin tts wholly owned subsidiary on the grounds that OSSL Limited transfers its taxable profits by gift aid to the Oxford Universty Student Union and therefore no tax asset or liabilily will be realised. Pensions Oxford SU partiapates in the UnNersty of OxFord Staff Pension Scheme ("OSPS'). This scheme is a hybrid pension scheme, providing defined benefits as well as beneffts based on defined contributions. The assets of the scheme are held in a separate trustee-administered fund. Because of the mutual nature of the schem8, the assets are not attribLrted to individual employers and scheme-wide contribution rates are set. Oxford SU is therefore exposed to actuarial risks assoaated with other 8mployers' employees and is unable to identfy its share of the underlying assets and liabilities of the schemes on a consistent and reasonable basis_ As required by Section 28 of FRS 102 "Employee benefits" Oxford SU therefore aGcounts for the scheme as rf it were a wholly defined contribution scheme. As a result. the amount charged to the profit and loss account represents the contributions payable to the scheme. Since Oxford SU has entered into an agreement {the Recovery Plan) that detemiines how each employer within the schemes will fund the overall deficit, Oxford SU recognises a liability for the contributions payable that arise from the agreernent (to the extent that they relate to the defjcitl wth related expenses being recognised through the profit and loss account. 40

OXFORD UNIVERSITY STUDENT UNION Annual Report and Financial Statements For the year ended 31 July 2023 Notes to the Financial Statements continued Net expenditure for the year Net expènditure for the year is stated after charging.. Depreciation of owned assets Auditorfs remuneration 2023 2022 6,319 12,950 5,995 9,920 Expenditure 2023 2022 Directly attributable costs Support costs Total costs Directly attributable costs Support costs Total costs Commercial activities Advice and representation Welfare 210,423 210,423 189,641 189,641 216,219 292,988 509,207 232,674 459,096 691,770 92,516 125,365 217,881 87,653 172,950 260,603 519,158 418,353 937,511 509,968 632,046 1,142,014 Further details of the costs included in the above headings are provided as follows.. Advice and representation elected staff salaries, OxFord SU campaign expenses and Communications expenditure. Weffare- student advisor salaries and events Gosts including the Oxford SU teaching awards. 41

OXFORD UNIVERSITY STUDENT UNION Annual Report and Financial Statements For the year ended 31 July 2023 Notes to the Financial Statements continued Expenditure (continued) Governance costs Included within support costs are govemance costs of £28,563 (2022-. £30,129): 2023 2022 Elections and Referèndums Student offi￿[ training Board expenses Auditorfs remuneration 992 1,001 5,319 288 3,428 50 14,460 9,633 11.730 Legal and professional 11,791 28,563 30,129 Staff costs The average weekly number of persons employed during the year was.. 2023 2022 No. Elected staff Student advisors Office staff 10 Total 18 19 2023 2022 The total cost of their remuneration was= Wages and salaries Social security costs Othér pension costs 585,949 55.771 582,559 55,049 92,650 Total employees, remuneration 741,426 730,258 42

OXFORD UNIVERSITY STUDENT UNION Annual Report and Finan¢ial Statements For the year ended 31 July 2023 Notes to the Financial Statements continued Staff costs (contlnued) No employees, remuneration (excluding employer pension and national insurance contributions) exceèded £60,000 in the year. The remuneration of key management personnel (including employer pension and national insurance contributions) was £255,636 {2022= £243,086). This relates to the chief executive and the remunerated trustees. Staff costs include settlement costs of £nil12022'. £Nil). Staff Trustee Remuneration and Related Parties Transactlons No trustees received any remuneration in the year in their capacity as trustee$, but, as permitted by Article 6.6.6{a) of Oxford Su's Articles of Association, the followng trustees received remuneration for other ServI￿S as sabbatical officers during the period. The figures include employer pension and national insurance contributions. 2023 2022 A Waseem 23,752 22,935 K Asare O Agunbiade D Devika 27.647 24.399 27,310 26,639 2,586 2,586 2,586 S Sadozai A Bhutsni A Jashapara E Greaves 32,092 31,518 27,292 O Olusola J Calder 33,692 34,863 32,756 3,275 3.275 3,275 3,275 3,275 3,275 211,862 2,586 2,586 M Ayodeji SDua D Hussain . J Lynam K Aliu M Clement N Harris R Chapman 165,612 43

OXFORD UNIVERSITY STUDENT UNION Annual Report and Financial Statements For the year ended 31 July 2023 Notes to the Financial Statements continued Staff Trustee Remuneration and Related Parties Transactions (continued) TWD extemal trustees had expenses reimbursed in the year in respect of travel expenses to board rneetings £100 (2022.. £0). 10. Tangible Fixed Assets Group Oxford SU Offi ce Office equipment equipment Cost at 31 July 2022 38,466 38,446 Additions in the year 9,841 9,841 Cost at 31 July 2023 48.307 48,307 Depreciation at 31 July 2022 30,259 30,259 Charge forthe year 6,319 6,319 Depreciation at 31 July 2023 Net Book value at 31 July 2023 36,578 36,578 11,729 11,729 Net Book value at 31 July 2022 8,207 8,207 11. stocks 2023 2023 2022 2022 Group Oxford SU Group Oxford SU Finished goods and goods for resale 2,898 2,896 2,965 2,965

OXFORD UNIVERSITY STUDENT UNION Annual Report and Financial Statements For the year ended 31 July 2023 Notes to the Financial Statements continued 12. Debtors 2023 Group 2023 Oxford SU 2022 Group 2022 Oxford SU Trade debtors 67,385 233 39,415 558 Amounts owed by group undertakin9S VAT recoverable 90,677 3.002 72,061 5,688 4,293 Prepayments and accrued income 46,408 180,000 29,915 180,000 69,774 180,000 3,152 180,000 Other debtors 293,793 303,827 293,482 261,459 Other debtors include £180,00012022'. £180,000) on deposit with the Unrversity of Oxford. held temporarily whilst altemative banking facilities are arranged. 13. Creditors 2023 Group 2023 Oxford SU 2022 Group 2022 Oxford SU Trade ¢reditors 19,246 269,050 11,765 269,050 34,086 195,418 28,380 195,418 other creditors (salaries) Other taxats'on and S￿la1 security Accruals and deferred income 2,615 13,625 16,058 40,704 13.254 304,536 296,873 270,208 237,052 14. Pensions The Oxford SU parbcipates in one PTincipal pension scheme for its staff - the University of Oxford Staff Pension Scheme (OSPS). The scheme's assets a￿ held in a separate trustee-administered fund. OSPS is a contributory mixed benefit scheme (i.e. "rt provides benefrts on a defined knefft basis- based on length of Servi￿ and pensionable salary- and on a defined contribution basis- based on contribubons into the scheme}. It is a multi-employer scheme and the Oxford SU is unable to identify tts share of the underlying assets and liabilities relating to defined beneffts of each scheme on a consistent and reasonable basis. Therefore, in accordance with thè accounting standard FRS 102 paragraph 28.11. the Oxford SU accounts for the schemes as if they were defined contribution schemes. As a result, the amount Gharged to the Income and Expenditure Account represents the contrsbut&ons payable to the schemes in respect of the accounting period. In the event of the wtthdrawal of any of the participating employers in OSPS. the amount of any pension funding shortfall (which cannot tr* otherwise recovered) in resFECt of that employer will be spread across the remaining partiapating employèrs and reflected in the next actuarial valuation of the scheme. 45

OXFORD UNIVERSITY STUDENT UNION Annual Report and Financial Statements For the year ended 31 July 2023 Notes to the Flnancial Statements continued 14. Pensions (continued The Oxford SU has also made available the National Employment Savings Trust for employees who are eligible under automatic enrolment regulations to pension benefits bul not eligible for osps. Scheme accounted for under FRS 102 as definèd contribution schemes. Actuarial valuations Qualified actuaries periodically value OSPS defined benefits using the 'projected unit method,, embracing a market value approach. The resulting levels of contribub'on tske account of actuarial surpluses or deficits in the schemé. The financial assumptions were dertved from Ma￿et conditions p￿Valling at the valuation date. The results of the latest actuarial valuations and the assumptions which have the most signrficant effect on the results were:: osps 31 March 2022 27 June 2023 £914m £961m 1£47m Date of valuation Date valuation results published Value of liabilities Value of assets Fundin deficit Principal assumptions.. Discount rate Rate of increase in salartes Rate of increase in nsions Assumed life expectancies on retirement at age 65- Males currently aged 65 Females currently aged 65 Males currently aged 45 Females currently a ed45 Funding ratios.. Technical provision basis Statutory pension protection fund basis Buy-out, basis lo er contribution rate Effective date of next valuation Gilts +0.5'/0.2.25g/o RPI RPIICPI Avera 1050 980 620 160/0 31 March 2025 ensionable salaries The discount rate for the OSPS valuation was.. Pre-retirement". Equal to the UK nominal gilt cuNe at the valuation date plus 2.250 p.a. at each temi. Post-retirement.. Equal tc the UK nominal gilt curve at the valuation date plus 0.500 p.a. at each tem. 46

OXFORD UNIVERSITY STUDENT UNION Annual Report and Financial Statements For the year ended 31 July 2023 Notes to the Financial Statements continued 14. Pensions (contlnued) Increases to pensions in payment for the OSPS valuation were- RPI inflation is dertved from the geometric difference b8￿￿ the UK nominal gilt curve and the UK index-linked cuNe at the valuation date, less 0.3Y. p.a. at each term pre- 2030 and 1.oyo p.a. post-2030. CPI inflation is derived from the RPI inflation assumption, less the Scheme Actuarfs best estimate of the long-term dIfferen￿ be￿een RPI and CPI inflation as applies from time to time (1.OOh p.a. pre-2030 and 0.1 /0 p.a. post-2030). For pension increases linked to inflation, a pension increase cuNe is constructed based on either the RPI, CPI or the average ofthe RPI and CPI inflation curves described above, adjusted to allow for the dtfferent maximum and minimum annual increases that apply, and the Scheme Actuary's best estimate of infiation volatilrty as applies from time to time. The OSPS employer contribution rate includes provisions for the cost of future accrual of defined benefrts, deficit contributions, administrative expenses and defined contributions. . Sensltivty of actuarlal valuation assumptions Surpluses or defiGits which arise at future valuations rnay impact on the company's future contribution commitment. Tho sensitivities regarding the principal assumptions used to m8asure the scheme liabilities are set out below.. Assumptlon Change In assum tion Decrease b 0.250/9 Increase b 0.250 Impact on OSPS technical rovisions Increase b 2 % Increase b 1.5/0 Valuation rate of interest RPI Deficit recovery plans In line with FRS 102 paragraph 28 11A, Oxford SU has recognised a liabiltty for the contributions payable for the agreed deficit funding plan. The principal assumptions used in these calculations are tabled below. osps tember 2023 0.00¢ 5.500/¢ 3.70% osps 30 Janua 1.00% 3.000 3.300 Finish date for deficit recove Average staff number increase Average staff salary increase Average 5 over period lan 30Se 2028 A provision of £9,082 has been made as at 31 July 2023 (2022.. £344,214) for the present value of the estimated futuré deficit funding element of the contributions payable under this agreement, using the assumptions shown. The provision reduce5 as the d8ficit is paid off according to the pension recovery scheme. Pension charge for the year The pension ¢harge recorded by Oxford SU during the accounting period was equal to the ontributions payable after allowance for the deficit reGovery plan, being £99,706 12022= £92,650).

OXFORD UNIVERSITY STUDENT UNION Annual Report and Financial Statements For the year ended 31 July 2023 Notes to the Financial Statements continued 1& Rostricted funds Oxford SU and Group Asat August 2022 Asat 31 July 2023 Income Expenditure Class Act Comedy versus climate change Green Trashing Oxford RAG 130 50 [phone]) (3) 23,828 39,788 {41,823) 21.793 Oxide Radio student group LGBTQ Campaign 110 (11a} 400 (400) Disabilities Campaign 750 (36g) 381 It Happens Here 50 SQ Graduates Consultation 7,204 (7,204) Santander grant income 2,647 (2,647) 26,829 48,242 (52,847) 22,224 48

OXFORD UNIVERSITY STUDENT UNION Annual Report and Financial Statements For the year ended 31 July 2023 Notes to the Financial Statements continued 15. Restrlcted funds (Continued) Below is the analysis of restricted funds at 31 July 2022= Oxford SU and Group Asat 1 August 2021 Asat 31 July 2022 Income Expenditure Class Act Comedy versus dimate change Green Trashing Oxford R4G Oxide Radio student group. Santandergrant inwme 130 130 111 111 7,834 29,849 (13,855) 23.828 110 110 1,097 1,550 2,647 9,285 31,399 (13,855) 26,829 Restricted income was received for the following purposes during the year.. Class Act supports, represents and campaigns on behalf of students from working class, low income, first generation and state comprehensive school backgrounds, as well as care leavers and estranged students. Comedy versus climate change is an initiative to host temily comedy gigs to raise funds for climate-change charits.es and awareness about the climate crisis among the student body. Green Trashing sold environmentally friendly products for use in the Oxford trashing tradition. Profit raised is to be given lo an environmental charity. Oxford RAG supports four charities which are selected by an all-student election in Hilary Term. Oxide Radio income is used to support the running of the student radio station. The Santander universities donation, worked on in Collaboration %Mth the University of Oxford, is to be spent on activities that encourage and engage diver5ty and inclusion across thè University. 49

OXFORD UNIVERSITY STUDENT UNION Annual Report and Financial Statements For the year ended 31 July 2023 Notes to the Financial Statements continued 15. Restricted funds (continued) The Oxford SU LGBTQ+ Campaign is a group of students working to improve the lives of LGBTQ+ people in the University of Oxford, and in the wider Oxford communty. The Disabilities Campaign is a group of sludents campaigning for better understanding and treatment of disabilities. It Happens Here is a Campaign that promotes the inlerests and welfare of victimslsuNivors of sexual Violen￿ at the University of Oxford, through the representation of their experiences and views, and increasing the awareness of support available for them. The Pilot Graduates Consultstion Group is a consultation (not representation) panel of currently 15 graduate students from drfferent cours8s, divisions and categories like student parent, part-time students with the aim of helping the University 8ngage more postgraduate students. 16. Unrestricted funds Group Asat 1 August 2022 Asat 31 July 2023 Income Expendlture General funds 254,938 1,092,226 {1,219,796) 127,368 Pension reserve {344.214) 335.132 Ig,082) 189,276) 1,427,358 {1,219,796) 118,286 Oxford SU Asat 1 August 2022 Asat 31 July 2023 Income Expendlture General funds 249,269 926,348 (1,034,695) 140,922 Pension reseNe (344,214) 335,132 (9,082) 194,945) 1,261.480 (1.034,695) 131.840 50

OXFORD UNIVERSITY STUDENT UNION Annual Report and Financial Statements Forlhe year ended 31 July 2023 Notes to the Financial Statements continued 16. Unrestricted funds (continued) Below is the analysis of unrestricted funds at 31 July 2022.. Group Asat 1 August 2021 Asat 31 July 2022 In¢ome Expenditura General funds 268,757 1,108,501 (1,122,320} 254.938 Pension reserve (338,375) (5.8391 (344,214) (69,618) 1.108,501 {1,128,159) 189,276) Oxford SU Asat 1 August 2021 Asat 31 July 2022 Income Expendituro General fijnds 279,794 924,268 {954,793) 249,269 Pension reserve (338,375) (5.839) (344.2141 158,5811 924,268 (960,632} (94,945) General funds are funds available to be spent on Oxford Su's general purposes as detemined by the trustees. The pension reseNe represents the net present value of the future contributions required over . ten years to clear the funding deficit of the OSPS pension scheme. See note 14 for further details. 51

OXFORD UNIVERSITY STUDENT UNION Annual Report and Financial Statements For the year ended 31 July 2023 Notes to the Financial Statements continued 17. Analysis of net assets be￿een funds Restricted funds Unrestricted funds Total funds Tangible fixed assets Current assets Current liabilities Pension scheme funding deficit 11,729 420,175 {304,536) 9,082) 118,256 11,729 442,399 (304,536) 19,082) 140,510 22,224 22,224 Below is the analysis of net assets between funds as at 31 July 2022: Restricted funds Unrestricted funds Total funds Tangible fixed assets Current assets Current liabilities Pension scheme funding deficit 8,207 516,939 (270,208) (344,214) {89,2761 8,207 543,768 (270,208) (344,214) {62,447) 26,829 26,829 18. Financial commitments At 31 July 2023 Oxford SU had future minimum lease payments under non-¢anGellable operating leases as follows: 2023 Group 2023 Oxford SU 2022 Group 2022 Oxford SU Other Other Other Other Within One year Between one and two years Between two and five years 2,032 297 2,032 297 3,470 2,602 3,470 2,602 2,329 2,329 6,072 6,072 52

OXFORD UNIVERSITY STUDENT UNION Annual Report and Financial Statements For the year ended 31 July 2023 Notes to the Flnancial Statements continued 19. ReGonciliation of net movement In funds to net cash flow from operating activities 2023 2022 Net movement in funds 202,957 6,319 (311) 69 (2,114) 5,995 {34,0561 (1,789) 35.443 5,839 9,318 Depreciation Increase in debtors IncreaselDecrease in stock IncreaselDecrease in creditors Increaselused By in pension provision Net cash Ilow Providedlused by operations 34,328 (335,1321 (91,770) 20. Analysis of changes in net debt At1Aug 2Q22 Cash flow5 Other changes At 31 Jul 2023 Cash at bank and in hand 247,321 (101,611) 145,710 247,321 (101,611) 145,710 21. Invastment in OSSL Llmlted OSSL Limited, registered number 07322922, is a wholly owned subsidiary of Oxford Untverstty Student Union. The address of the company is 4 Worcester Street, Oxford OX1 2BX. The activities of the company comprise pnmarily printing and distribution of student publications and running student events such as the annual freshers, fair. The book value of the investment in OSSL Limited in Ihe company accounts of Oxford University Student Union is £nil (2022.. £nil). 53

OXFORD UNIVERSITY STUDENT UNION Annual Report and Financial Statements For the year ended 31 July 2a23 Notes to the Financial Statements continued 17. Analysis of ngt assets be￿een funds Restricted funds Unrestricted funds Total funds Tangible fixed assets Current assets Current liabilities Pension scheme funding deficit 11,729 420.175 (304,536) 9,082} 118,256 11,729 442,399 (304,536) (9,082 140,510 22,224 22,224 Below is the analysis Of net assets belween funds as at 31 July 2022= Restricted funds Unrestricted funds Total funds Tangible fixed assets Currenl assets Current liabilities Pension scheme funding deficit 8,207 516,939 (270,2081 (344.214) (89,2761 8,207 543,788 1270,208) {344,214) (62,447} 26,829 26,829 18. Financial comrnitments At 31 July 2023 Oxford SU had future minimum lease payments under nOn£an￿lIable operating leases as follows.. 2023 Group 2023 Oxford SU 2022 Group 2022 Oxford SU Other Olher Other Other Within one year Between one and two years Between two and five years 2,032 297 2,032 297 3,470 2,602 3,470 2,602 2,329 2,329 6,072 6,072 52

OXFORD UNIVERSITY STUDENT UNION Annual Reporl and Financial Statements For the year ended 31 July 2023 Notes to the Financial Statements continued 19. Reconciliation of net movement in funds to net cash flow from operating activities 2023 2022 Net movement in funds 202,957 6,319 (311) 69 (2,114) Depreciation Increase in debtors 5,995 (34,056) (1,789) 35,443 5,839 9,318 IncreaselDecrease in stock IncreaselDecrease in creditors 34,328 1335,132} (91,7701 Increaselused By in pension provision Nel cash flow ProvidedlU5ed by operatlQnS 20. Analysis of changes in net debt AtIAug 2022 Cash flows Other changes At31 Jul 2023 Cash at bank and in hand 247,321 (101,611) 145,710 247,321 1101,611) 145,710 21. Investment in OSSL Limited OSSL Limited, registered number 07322922, is a wholly owned subsidiary of Oxford University Student Union. The address of the company is 4 Worcester Street, Oxford OX1 2BX. The activities of the company comprise primarily printing and distribution of student publications and running student events such as Ihe annual freshers, fair. The book value of the investment iri OSSL Limited in the company accounts of Oxford University Student Union is £nil (2022.. £nil). 53

OXFORD UNIVERSITY STUDENT UNION Annual Report and Financial Statements For the year ended 31 July 2023 Notes to the Financial Statements continued 22. Members. liability The company is limited by guarantee and has no share capital. 13 guarantees wero in. pla at yearend from trustees. In the event of the company being wound up, the liability ot the members is limrted to one pound. 23. Control relationships Ultimate control of Oxford SU rests with its membership.