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2025-07-31-accounts

Registered Charity No: 1142479 Registered Company No: 07470232

UNIVERSITY OF SURREY STUDENTS’ UNION

TRUSTEES’ REPORT AND CONSOLIDATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2025

UNIVERSITY OF SURREY STUDENTS' UNION

CONTENTS

Pages
Administrative information 1
Report of the Trustees (including Trustees’ Responsibilities statement) 3
Auditors’ Report 15
Statement of Consolidated Financial Activities 18
Consolidated Balance Sheet 19
Consolidated Statement of Cash Flows 20
Notes to the Financial Statements 21

UNIVERSITY OF SURREY STUDENTS' UNION

ADMINSTRATIVE INFORMATION For the year ended 31 July 2025

Charitable Status

Surrey Students’ Union (SSU) is an incorporated charity (Company Limited by Guarantee) established under the Education Act 1994 and registered with the Charity Commission (No. 1142479) and Companies House (No. 07470232).

Principal Address

Union House, Stag Hill, University of Surrey, Guildford, Surrey, GU2 7XH.

Charity Trustees

Full-time (Sabbatical) Officers President & Chair of Trustees VP Community VP Support VP Activity VP Voice

Aug 2024/25 Aug 2025/26 Liam White Matthew Aikin Matthew Aikin Amber Dobrzanski Samantha Buss Samantha Buss Ravi Kant Kade De Gannes Luana Vasconcelos Luana Vasconcelos

Part-time (Non-sabbatical) Officer

Union Chair Student Trustee Student Trustee

Tara Notash Sally Fox (app. 01/11/25.) Christopher Chua Christopher Chua Laura Stevens Elliott Sheppard (app. 20/11/25)

External Trustees

Amanda Massie Martine Carter Matthew Dutton Anne Milton Martine Carter Shilpi Sahai Anne Milton Pierre Dadd (app. 20/10/25) Shilpi Sahai Michael Hewitson (app. 20/10/25)

Senior Management Team

SSU employs a Chief Executive Officer to work closely with the Executive Officers and ensure effective management of the charity as head of a senior management team as follows: -

Chief Executive Officer Deputy CEO Head of People and Representation

Alex McKee Debra Rideout Kath Phillips

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UNIVERSITY OF SURREY STUDENTS' UNION

ADMINSTRATIVE INFORMATION For the year ended 31 July 2025

Part-time Executive Officers (Non trustees) 2024/25

Voice zone officers: James Mitchell Christian Bergvoll Archie Jones Jenny Jackson Deeya Varsani

Support zone officers: Natalie Savva Leoni Williams Bekah Owolabi Christina Joseph Kamble Ben Matthews

Activity zone officers: Team Surrey Chair - Millie MongerGilford Societies chair – Angel Ahlawat Activity zone: Hannan Ahmad Shubham Choudhary Sharon Chandrashekar

Community Zone officers: Feyi Salami Salami Risper Okello Nehal Boobna Ansar Mohammed Ansarulhaq Faisal

RAG Chair - Jaden Ogunlade

Bankers

Auditors

Knox Cropper LLP National Westminster Statutory Auditors Bank Plc 65 Leadenhall Street 151 High Street London Guildford EC3A 2AD Surrey GU1 3AH

Solicitors

Warner Goodman LLP Compass House 1-3 The Avenue Southampton SO17 1XG

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UNIVERSITY OF SURREY STUDENTS' UNION

BOARD OF TRUSTEES’ REPORT For the year ended 31 July 2025

The Board of Trustees, who are also directors of the Company for the purposes of the Companies Act, and trustees for charity law purposes, submit their combined directors’ report and trustees’ annual report and the financial statements of the University of Surrey Students' Union for the year ended 31 July 2025. The Board of Trustees confirms that the annual report and financial statements of the Company comply with current statutory requirements, the requirements of the Company's governing document and the provisions of the Statement of Recommended Practice (FRS 102).

Structure, Governance and Management

Surrey Students’ Union is constituted under the Education Act 1994 as a charity (see page 1) with internal regulations or Rules approved by the governing body of the University of Surrey. The Union is a Company Limited by Guarantee. The Charitable Company’s Memorandum and Articles of Association are the primary governing documents. Each member of the Charitable Company undertakes to contribute to the owners of the Charitable Company in the event of it being wound up, while they are a member, such amount as may be required and not exceeding £1.

Surrey Students’ Union charitable Objects under the Act, to advance the Universities’ educational purposes by providing representation and support for the students at the University, are supplemented by the further Object of helping members to develop their own charitable activities as active participants in civil society.

Surrey Students’ Union is governed by the Board of Trustees, made up of five Sabbatical Officers, the Union Chairperson, two Student Trustees and four External Trustees and a University Trustee. The five posts of President, VP Voice, VP Support, VP Community and VP Activity are full-time, or ‘sabbatical’, posts remunerated as authorised by the Education Acts and cannot exceed two years’ duration for each holder. The five full-time Officers, Union Chairperson, Student Trustees, University Trustee and External Trustees are regarded as the charity trustees of Surrey Students’ Union for the purposes of the Charities Acts.

Arrangements for setting pay and remuneration of key management personnel

Pay and remuneration of key management personnel is determined by a variety of contributory factors, such as, the size of the Students’ Union, the pay scales for each role e.g., sabbaticals, CEO etc., and the level of experience of the staff member. In addition to this, levels of pay may be affected by the ability to recruit key management personnel and retain them in post, which all coincides with the student union’s appointment and pay policies. All amendments to the pay and remuneration for the Chief Executive Officer is discussed and agreed by the Board of Trustees. The day to day running of the Union is delegated to the Chief Executive Officer. All other changes to pay and remuneration is made by the Chief Executive Officer as detailed in the Delegation of Authority document, agreed annually by the Board of Trustees.

Risk Management

The Finance and Risk Committee has examined the major strategic, business and operational risks faced by Surrey Students’ Union in particular those relating to governance, finance, student experience, health and safety, organisation, operations, reputation, HR and ICT. A risk register has been established and is reviewed at least annually.

The Students’ Union prime risks are:

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UNIVERSITY OF SURREY STUDENTS' UNION

BOARD OF TRUSTEES’ REPORT For the year ended 31 July 2025

Where appropriate, systems or procedures have been established to mitigate the risks the charity faces. Budgetary and internal control risks are minimised by the implementation of procedures for authorisation of all transactions and projects. Procedures are in place to ensure compliance with health and safety of staff, volunteers and participants on all activities organised by the Union. Staff training and development are in place to ensure staff are aware of the risks and have the necessary skills and ability to complete the designated role. KPI’s are regularly reviewed to pick up any early warning signs that issues may be these occurring. These procedures are periodically reviewed to ensure that they continue to meet the needs of the charity.

Group structure

The Students’ Union has a wholly owned subsidiary, Origin Events Limited. See Note 8 for further details.

Aims, Objectives and activities

The Board of Trustees passed a new Strategic Plan in 2024 which sets out the Union’s vision as ‘ Making sure our students have the best Surrey Life ’.

The Union’s mission statement is:

We want our students to have the best Surrey life by:

The strategy sets out the six main objectives as follows:

In pursuit of these aims for public benefit, The University of Surrey Students’ Union will ensure the diversity of its membership is recognised, valued and supported. As an organisation, it has established services for use by its members and to support its work with the University and other organisations on behalf of students. These include the Students’ Union support service, volunteering and training, diverse student activities, and support for student sports clubs and societies, alongside our commercial activities which include our Rubix nightclub and Manor Park Social. The Sabbatical Officers of the Union sit on many of the committees of the University of Surrey and meet regularly with department and central service heads on campus.

The charity trustees have complied with their duty as determined by Section 17(5) of the Charities Act 2011 having due regard to the Charity Commission’s published general guidance concerning the operation of the public benefit requirement.

Key management pay

The salary for key management is decided by the Trustees considering the skills and experience required, the management responsibilities, the overall budget constraints and a view of what is appropriate as compared to similar roles in the sector in which we work.

Public benefit

The Trustees confirm that they have referred to the guidance contained in the Charity Commission’s general guidance on public benefit when reviewing the charity’s aims and objectives and in planning future activities.

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UNIVERSITY OF SURREY STUDENTS' UNION

BOARD OF TRUSTEES’ REPORT For the year ended 31 July 2025

Union Priorities

At the beginning of the year, the Union President led the Officer team in setting out Union Priorities. These are a commitment to our objectives throughout the year, and progress on the document is regularly presented at the University Students’ Union Committee. This year’s focus was on the following themes: Cost of Living; Employability; Access and Participation; University Financial Resilience; and Visibility. To tackle the Cost-of-Living Crisis, we brought affordable and unique events to our students through the Belonging Events series.

Our elected officers shared a passion for the employability of our students, as they worked to increase the number (and diversity) of paid work opportunities available. Access and Participation captured our aims to make University more accessible for our students. We successfully established the University’s first Sensory Room, creating a sustainable model that can be replicated across both campuses. We developed the Student Equality Networks, with the Disability and Neurodiversity Subnetwork being critical in improving infrastructure around Surrey through the University’s Accessibility Forum. Finally, we were key stakeholders in the University’s development of its approach to digital education.

With challenges across the Higher Education sector, the University saw changes across academic and professional areas. We closely monitored student satisfaction and held the University to account in areas where student experience or service provision failed to meet expectations. Finally, the Sabbatical Officer team led on bringing greater visibility to our work.

Union Strategy

This was the first year of implementation of the new Union Strategy. This year, as part of our strategic plan, we have made significant progress in developing our communications to ensure that each Zone is sharing plans across the Union, and with our students. As a result, we have started to see strong cross-collaboration between Zones such as the Community Zone adapting our commercial spaces to facilitate events across the Activity, Support, and Voice Zones. Our Union website also benefitted from an overhaul as part of the Union Strategy. This involves the streamlining of services such as club and society finances. It also enabled us to step towards unifying our democratic processes.

Changes across the University

Building from last year’s work following the University’s Financial Resilience plan and in line with our 2024-25 Union Priorities, we closely monitored student satisfaction throughout the year. We worked closely alongside the Chief Student Office directorate to resolve these cases, and collaborate to ensure that this was not repeated in the second semester.

National Representation

Your Union President’s ambition was to address the larger issues affecting student experience, using our representative voice to influence policymakers and their decisions. We invited our local member of parliament, Zöe Franklin, to a discussion with our elected Officers about the greatest challenges our students face. Zöe agreed to explore further, and this will continue to be an area of focus for the Union in future years.

University Regulation Changes

Throughout the year, a lot of student advocacy takes place through drafting and amending University policies and regulations. A key topic from this year was a review of the University’s freedom of speech, as well as academic freedom, policies. Taking initiative, we developed a process by which clubs and societies can organise events and book external speakers. This became particularly important as freedom of speech came under the political lens nationally. Following the above, as well as a ruling from the Supreme Court concerning the legal definition of sex, the Union President met with the Provost and interim Vice-Chancellor to clarify that the University’s stance aligns with student interest.

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UNIVERSITY OF SURREY STUDENTS' UNION

BOARD OF TRUSTEES’ REPORT For the year ended 31 July 2025

Union President Manifesto Pledges

As well as leading on the Union Priorities and Strategy, the Union President has been working to fulfil his own manifesto pledges. His primary focus was on leadership and fostering more collaboration between Zones, something achieved by building a strong relationship between the Sabbatical Officer team and seeking joint opportunities such as the Belonging Events series or Housing Awareness Weeks to draw from the skills of each of the Zones.

He also reviewed the staffing structure of the Union, identifying areas where more staff attention is needed: communications, accessibility, and providing affordable experiences. New coordinator roles were made available in these areas, ensuring we are set up to continue meeting students’ needs.

The spirit of regularly updating students has been seen through his leadership in encouraging the Sabbatical Officers to regularly discuss what they are doing, and sharing their agendas.

Pulse

This year, we saw another strong performance in our survey results, taking the temperature all year round on how well the Students’ Union is representing our members. The Student Life Pulse survey saw over 1300 students share their views about student life at Surrey, and this year we’re proud to have seen a significant increase in overall satisfaction with the Students’ Union. Consistently reaching over 60% throughout the year, this marked our highest performance in years, and over 10% higher than last year.

ZONE ACTIVITY

Voice Zone

Course Reps

This year, we focused on improving how we reward and recognise our Course Reps. We’ve celebrated our Course Rep’s achievements by launching Course Rep of the Month, open to nominations from Reps and academic staff. We held our highest number of Course Rep socials yet, holding four over the year, and welcomed between 40 and 80 Course Reps each time. In May, we held our annual Rep awards., awarding 28 of our highest achieving Reps.

Head Reps

Over the year, 22 Head Reps worked hard to provide support to Course Reps in every School. The Head Reps provided vital insight into the feedback emerging from each School through their updates and regular meetings. In our second update meeting we were also joined by senior members of staff from the University.

Student Voice Forum

This year, we ran three Student Voice Forum events, hosted online, to give students the opportunity to ask questions directly to our panel comprised of members from the University’s Executive Board. We saw over 230 students attend the Forum across the academic year, submitting excellent, relevant questions for responses from the panel.

Union Forum

The Voice Zone supported the Union Chair to run four Union Forum meetings, where all students are invited to discuss important issues with the elected Union Officer team. The first Forum provided an opportunity to reflect on the Annual Report for 23/24, and later meetings provided updates from each Zone’s team of Officers on their current

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UNIVERSITY OF SURREY STUDENTS' UNION

BOARD OF TRUSTEES’ REPORT For the year ended 31 July 2025

activity. Topics of discussion included the Personal Tutor Review, the Renters Rights Bill, Speak Week, and student accessibility on campus.

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UNIVERSITY OF SURREY STUDENTS' UNION

BOARD OF TRUSTEES’ REPORT For the year ended 31 July 2025

Surrey Decides and other Democratic Activity

Our main officer elections, 'Surrey Decides', ran at the start of semester two. This year, 2351 recommendations were sent to potential nominees, setting the highest number of recommendations since 2019. We received 110 nominations across our available officer positions, also setting a record high for candidate numbers since 2019. 3375 unique voters took part in Surrey Decides, with turnout still considerably higher than in 2023. Increasing turnout further will be a focus of the elections planning process for the 2026 main Officer election.

This year, the Voice Zone facilitated 66 EGMs for dormant and new societies and clubs, and to replace resigned signatories throughout the year. With approval from our Governance Committee, the Voice Zone and Activity Zone worked to redevelop the annual elections process. Elections for 179 clubs and societies ran automatically under our new process in April on our bespoke elections portal, designed as part of the new Union website project. Across both elections, we had 652 candidate nominations and 1910 voters take part to help elect next year’s group signatories.

Speak Week

During the 24-25 academic year we ran two Speak Week campaigns, one in November and March. In November we gathered 723 change suggestions through our in person and online ballot as well as multiple events and stalls ran across the week to gather further feedback. During our next Speak Week, we collected 896 change suggestions using the same methods with the addition of focus groups ran across the week with 22 students. Across the insight gathered during Speak Week this year, the key priorities for students are value for money, a vibrant and inclusive social experience, high-quality academic and professional development, and accessible, compassionate wellbeing support.

Student Equality Network

The Student Equality Network is the Union’s opportunity for students to come together to promote equality at Surrey, and to ensure the Union remains informed about the experiences of our diverse student community. This year, the Voice Zone made significant developments to this project, including the addition of a dedicated full-time staff member, the employment of six part-time student leaders, the launch of three subnetworks and the use of themed meetings to facilitate meaningful discussion. The Network successfully met its key aims for the year: increasing membership, starting up the “My Lived Experience” project and developing both student leaders and members.

The VP Voice has made significant contributions to the student experience through their membership of several University Committees and working groups. During regular meetings with the Pro-Vice Chancellor Education, Luana has escalated concerns raised by Head Reps and Course Reps. Through Senate, Luana has contributed her views about exam invigilation, ensuring any changes would take the student perspective into account.

Activity Zone

The 2024–25 academic year has marked an extraordinary period of growth, inclusion, and innovation across the Activity Zone. Through collaborative efforts spanning the Students’ Union, academic departments, Team Surrey, and student societies, we delivered an ambitious and inclusive programme that has enriched student life.

Employability & Career Development

One of our most significant achievements was the expansion of Employability Week, which became the largest in recent memory. A record 108 companies attended the September Career Fair, attracting a 19% increase in student footfall compared to previous years. Our efforts extended further in February with the inaugural Part-Time Job Fair which successfully connected over 800 students with local employers.

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UNIVERSITY OF SURREY STUDENTS' UNION

BOARD OF TRUSTEES’ REPORT For the year ended 31 July 2025

Inclusivity & Belonging

Inclusivity remained a central pillar of the Activity Zone’s work. Neurodivergent Month featured deliberately accessible and inclusive activities such as Boccia tournaments, Silent Discos, and Sitting Volleyball, championing participation for all abilities. Our cultural programming included landmark events for Diwali, Black History Month, and Islamophobia Awareness Month, all designed not only to celebrate diversity but to encourage informed, meaningful conversations.

The introduction of Belonging Events was another major success. These activities provided fun, low-cost or free ways to get involved with the Union, and gave more students than ever a chance to discover new passions and make friends.

Off-Campus Experiences

This year saw an array of student adventures with the Union running 14 diverse trips across the UK and further abroad. From Brighton to the historic beauty of Cambridge, to the Cotswolds and the landscapes of Iceland, these experiences gave students the chance to explore, bond, and create unforgettable memories. With over 700 tickets sold, this shows how much students value these opportunities to connect beyond campus life.

Sport & Recreation

Accessibility and inclusiveness in sports remained a clear priority. In partnership with Team Surrey, we introduced a series of free sports sessions throughout the year. These sessions enabled over 500 students to try out activities like badminton, basketball, and swimming, particularly benefiting students who may have otherwise faced financial barriers.

Team Surrey Highlights

Women’s Rugby kickstarted the year with a BUCS showcase and wrapped it up on an even higher note with a wellearned promotion to the premier tier. With the growing momentum and interest, this has led to a second team been entered for next season. Cheerleading delivered their first Varsity showcase, featuring over 100 members in the squad! A strong start to what promises to be a lasting varsity tradition. Golf had a highly successful season as they bought home gold from the southeastern conference cup. Men’s football has had a fantastic year as they made the national final for the first time ever. Equestrian successfully got through to the national trophy final for a second year running. On top of that, our Championship team has also secured a spot in the National Finals. Overall, Team Surrey have once again done better than last year reaching 30th on the BUCS leaderboard.

Varsity

This year saw Varsity back at Surrey and what a success it was! With over 20 fixtures and more activity than ever in the fan zone including a surf simulator, footgolf and multiple garden games, we had a larger turnout than ever for spectators. We won the trophy for the 14[th] consecutive year and students went on to celebrate at a successful Rubix night that evening.

Cultural & Creative Life

Our commitment to fostering a vibrant campus culture was reflected in a robust programme of cultural and creative events. The Winter Fashion Show, themed around sustainability, combined creativity with environmental awareness.

One of the most celebrated events of the year was Strictly Come Surrey. The event not only entertained but brought together individuals across the university in a shared experience that underscored community spirit.

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UNIVERSITY OF SURREY STUDENTS' UNION

BOARD OF TRUSTEES’ REPORT For the year ended 31 July 2025

Union/Colours Ball

Union Ball and Colours Ball were a great opportunity to mark of the phenomenal successes from this year for both the Union and Team Surrey. For the first time in many years we bought both the balls back to University Hall. This was successful with Colours Ball completely selling out and Union Ball selling over 100 tickets.

Support Zone

This year, we made support more accessible, inclusive, and visible - because every student deserves to feel seen, heard and cared for.

Don't Worry Surrey brought practical and emotional support straight to students during the exam period. We gave out breakfast bars, ran dog therapy sessions, and hosted low-pressure socials like board games nights and crafternoons. We also had activity pop-ups, kitten yoga, and our Advice Team supported over 3000 students with advice.

Two Big Wellbeing Weeks

We ran two full Wellbeing Weeks, including our “Wellfair”, where services came together to showcase what they can offer and how you can support student wellbeing. We offered bystander training to both University staff and students, Active Listening training, and supported local organisations to run workshops.

Advice and Regulations

This year, the advice team have worked with 3054 students through both academic (2769 cases), and housing advice (285 cases). We have expanded our provision to provide more online bookings for students, as well as physical drop-ins at key points in the academic year (e.g., results and exams).

The team have also worked hard on a proposal to the University to change their Academic Integrity regulations, to make the range of available penalties to students fairer. Following the University’s commitment to the SSU to review these regulations in this academic year, our proposal was successful, and the University have agreed to substantial changes following negotiations.

Welfare Watch

Welfare Watch had a year of building. Following last year, with the service struggling but being levelled out by the committee, the early part of the year included an unforeseen committee change as priorities changed amidst earlyyear teething issues with other university services.

A new committee stepped up and has taken the service on to new strengths, helping to resolve these issues, reestablishing Welfare Watch’s presence and position in the university alongside recruiting numerous new volunteers.

Talk Together (Peer Support)

This year, the Support Zone launched a rebranded peer support service called Talk Together to replace Student Minds, following consultation with students. Offering 1:1 in-person sessions in the Union once a week, during Semester time, our student volunteers have been able to support students directly when they need it. We currently have 10 volunteers, including a strong committee, who have been pivotal in launching the service, and we look forward to seeing it develop in 2025-26.

Nightline

Nightline had another successful year, and thanks to their new room on campus, we have increased the number of volunteers regularly running for the service. We have consistently been open Monday to Saturday throughout term

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UNIVERSITY OF SURREY STUDENTS' UNION

BOARD OF TRUSTEES’ REPORT For the year ended 31 July 2025

time. Our peak times are around the start of the academic year, exams, and midterms. This year, the Nightline Association (NLA), our charity partner, closed. After lengthy conversations with the NLA, we are pleased that our service will continue to run as normal next year at no extra cost. We continue to work closely with the Guildford Samaritans, who offer support at training, with wellbeing phone calls and with the running of our service.

Wellbeing Champions

This year saw over 160 Wellbeing Champions trained across our student societies and clubs, receiving training in complex mental health situations and disclosures, active bystander skills, inclusion, and conflict resolution. Our Wellbeing Champions have provided vital contact for students and for the Union in linking up students seeking to engage in new activities, and have been at the forefront of difficult situations, from club membership disputes to emergency intervention for member wellbeing.

Championing Disability and Neuro-Inclusion

We proudly celebrated Disability History Month with a series of events co-designed with students and external guests. From panel talks to creative sessions, the focus was always on inclusion, visibility, and empowerment. We also made progress on the ground: working with the University and students to enhance the academic disability experience, secure more diverse counsellors, and help design a sensory room now open on campus.

Stronger Charity Partnerships

We’ve expanded the range of on-campus support partners to better reflect our community. This year saw more charities than ever at our Wellfair, including RASASC, Outline (the LGBTQIA+ Listening Line) - who now have a regular presence across campuses, alongside the Samaritans.

Supporting LGBTQIA+ Students

We supported and attended International Day Against Homophobia, Transphobia, and Biphobia (IDAHOBIT) with the Chaplaincy, ran a Trans Day of Remembrance Vigil, and strengthened our work with the LGBTQ+ Society to make Surrey more inclusive for all identities. We’re proud to create spaces where students feel seen, respected, and celebrated.

Drug and Alcohol Support

This year, we collaborated with the Centre for Wellbeing to run the national Student Drugs and Alcohol Survey from Students Organising for Sustainability UK (SOS-UK). With student input at the core, we’re now analysing the results to understand the real experiences and needs of Surrey students.

Community Zone

It's been an exciting year for the Zone where we’ve seen Surrey students embrace everything their Students’ Union has to offer. As a result, we’ve been able to host a vibrant and diverse calendar of different student events with something to cater for all tastes. A key aspect of the work of the Zone is to encourage students to develop their sense of belonging at University. This year, we have hosted a range of Belonging Events which have provided students with free or low-cost opportunities to meet other people and try something new.

Moving in Weekend

Moving In Weekend is our first opportunity to welcome new Surrey students, our army of Freshers Angels volunteers are on hand to welcome and help move in new students. It was fantastic to oversee the weekend and play such an active role in that initial welcome. The organisation that goes into such an important weekend can’t be understated, and it was great to see everyone pulling together.

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UNIVERSITY OF SURREY STUDENTS' UNION

BOARD OF TRUSTEES’ REPORT For the year ended 31 July 2025

Freshers’ Fair

Freshers’ Fair is always a highlight of the year, and the event did not disappoint. The marquee was buzzing with stalls and new students gathering as much information as they could carry. The event has always been an important showcase for everything the Students’ Union and your student life will have to offer, with over 150 of our sports clubs and societies hosting stalls.

Freshers’ Week Events

This year, one of our goals for Rubix was to improve our engagement with students and to use our Freshers’ events as a chance to introduce students into our brand of student friendly night life. Freshers’ week events did not disappoint, from a sold-out RnB night, alongside our huge quiz night and the hilarious antics of Bingo Lingo, the variety of entertainment in Rubix was fantastic and well received by students.

The Front Room

As VP Community, Matt wanted to champion better usage of the Union’s Front Room area. The Front Room had been a previously underused space which students were not aware existed. We worked with the whole Community team to build a bar in the venue so that students would once again see it as a place to socialise in a more relaxed atmosphere.

Quiz Nights

Quizzes have been held over at Manor Park Social, and in good weather by the University lake with our Lake Bar, and we’re hoping to continue the success of this next year. Matt has taken up the role of quiz host in addition to being VP Community and the students have been thoroughly enjoying the free quiz nights we put on twice a week, it’s been great to see them so successful.

Commercial Activity

In the Pulse survey, we’ve seen a significant increase in the numbers of students who associate the Students’ Union with socialising and meeting friends. One key change we were keen to implement was to bring in some smaller events which would be low-risk to the Union in terms of cost. These events, such as the quizzes and sip & paint nights, proved popular and running them has helped us make commercial decisions for the year to come.

This survey result is also reflected over at Manor Park Social. Footfall at Manor Park Social has increased and students living over on Manor Park have really embraced the venue as somewhere to meet up in a laid back atmosphere. We hope this venue will continue to go from strength to strength next year.

Sustainability Week

We worked in partnership with colleagues from the University to deliver Sustainability Week at the end of March. Students could participate in a multitude of events to highlight green issues including a Carbon Footprint pop up, a talk on Sustainability Careers, and several events hosted at the Union including a clothes swap in the Front Room. We also used the week as an opportunity to promote our Community Hub, which has continued to thrive on campus and provide a place for students to purchase low cost second hand items.

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UNIVERSITY OF SURREY STUDENTS' UNION

BOARD OF TRUSTEES’ REPORT For the year ended 31 July 2025

Volunteering

We continue to have a great cohort of student volunteers, with thousands of hours being logged by the students. From Freshers’ Angels, to society committees, everyone who gave up their time deserves to be recognised for their efforts: those achieving high hours were rewarded with our volunteering awards, and had this added to their HEAR transcript which can be viewed by future employers.

RAG

The chosen RAG charities continued this year and were the Royal Surrey Charity and Refuge UK. Students ran a Movember in fundraiser in November and we once again hosted the University of Surrey Charity Run (formerly Kelly’s Run) on campus with all ticket sales income going to the Royal Surrey Charity.

Future Plans

Surrey Students’ Union will continue to operate in line with the Strategic plan set in 2024.

Financial review

Surrey Students’ Union has continued to benefit from the recognition and support of the University, and this year received an annual Block Grant of £1,530,385 (2024: £1,481,305).

Reserves Policy

The Board of Trustees reviews the Student Unions’ Reserve Policy annually. The Board of Trustees have determined that the appropriate level of reserves should be £300,000 cash (which is approximately 3 months salaries), however this will face further ongoing review. The reason for this reserve is to provide enough working capital and to deal with unexpected emergencies. In future years capital maintenance and development projects may be considered in the reserves policy review.

After deducting the carrying value of tangible fixed assets held for the Student Union’s own use there were free reserves as defined by the Charity Commission of £438,206 (2024: £375,607).

The key management personnel understand that the Students’ Union needs to maintain an appropriate level of reserves, in order to provide sufficient capital to cover delays which can occur between spending and receipt of income.

Surrey Students’ Union is custodian of the annual RAG proceeds from fundraising events organised by the students under Surrey Students’ Union auspices for distribution to the intended charities.

Future Funding

The Board of Trustees remain in consultation of evaluating sufficient funding for Surrey Students’ Union to meet all its obligations.

Trustees' responsibilities statement

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

Company law requires the Trustees to prepare financial statements for each financial year. Under company law the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of

13

UNIVERSITY OF SURREY STUDENTS. UNION BOARD OF TRUSTEES. REPORT For the year ended 31 July 2025 the slate of affairs of the charitable company and of the incoming resources and application of resource5, including the income and expenditure. of the charitable company for that period. In preparing these financial slatemenls, the Trustees are required to.. select suitable accounting policies and then apply them consistenlly-, observe the methods and principles in the Charities SORP., make judgments and accounting estimates that are reasonable and prudent-, slate whether applicable United Kingdom Accounting Standards have been followed, subject lo any material departures disclosed and explained in the accounts,. and prepare the financial slalemenls on the going concern basis unless il is inappropriate lo presume that the charitable company will continue in operation. The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charitable company's transactions and disclose with reasonable accuracy at any lime the financial position of the charitable company and enable them lo ensure that the financial slalemenls comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. The Board of Trustees are responsible for the maintenance and integrity of Ihe corporate and financial information included on the charitable company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial slalements may differ from legislation in other jurisdictions. Disclosurg of informatlon to auditors Each of the persons who are Trustees at the lime when this Trustees. report Is approved has confirmed that.. So far as that Trustee is aware, there is no relevant audit information of which the charitable company's auditors are unaware, and That Trustee has taken all the steps that ought lo have been taken as a Trustee in order lo be aware of any relevant audit information and lo establish that the charitable company's auditors are aware of that information. This report was approved and aulhorised for issue by the Board of Trustees and signed on ils behalf by.. Matthew Aikin Pr8sidentttrusleelChair Date Iglil )2c)

UNIVERSITY OF SURREY STUDENTS' UNION (registered company no. 07470232)

INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF UNIVERSITY OF SURREY STUDENTS' UNION FOR THE YEAR ENDED 31 JULY 2025

We have audited the financial statements of University of Surrey Students' Union (the ‘parent company’) and its subsidiary ('the group') for the year ended 31 July 2025 which comprise the Consolidated Statement of Financial Activities, the Consolidated Balance Sheet, the Consolidated Statement of Cash flows 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 United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion, the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the group in accordance with 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 accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

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

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

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

Other information

The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. The trustees are responsible for the other information.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. 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.

/Continued …

15

UNIVERSITY OF SURREY STUDENTS' UNION (registered company no. 07470232)

INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF UNIVERSITY OF SURREY STUDENTS' UNION FOR THE YEAR ENDED 31 JULY 2025

(Continued)

Opinions on other matters prescribed by the Companies Act 2006

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

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the group and the parent company and its environment obtained in the course of the audit, we have not identified material misstatements in the directors’ report included within the trustees’ 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 if, in our opinion:

Responsibilities of trustees

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

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

Auditor’s responsibilities for the audit of the financial statements

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

/Continued …

16

UNIVERSITY OF SURREY STUDENTS' UNION (registered company no. 07470232)

INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF UNIVERSITY OF SURREY STUDENTS' UNION FOR THE YEAR ENDED 31 JULY 2025

(Continued)

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

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

Use of our report

This report is made solely to the parent 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 parent 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 parent company and the parent company’s members as a body, for our audit work, for this report or for the opinions we have formed.

Shoaib Arshad (Senior Statutory Auditor) For and on behalf of:

Knox Cropper LLP

Chartered Accountants & Statutory Auditors 65 Leadenhall Street London EC3A 2AD

17

UNIVERSITY OF SURREY STUDENTS' UNION

CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES (incorporating the Income and Expenditure Account) For the year ended 31 July 2025

Unrestricted
Funds
Note
2025
£
INCOME AND ENDOWMENTS FROM:
Donations and legacies
2
1,530,385
Charitable activities
5
740,887
Other trading activities
3
530,082
Investments
4
9,839
TOTAL
2,811,193
EXPENDITURE ON:
Charitable activities
2,756,135
TOTAL EXPENDITURE
6
2,756,135
55,058
NET MOVEMENT IN FUNDS
55,058
RECONCILIATION OF FUNDS:
TOTAL FUNDS AT 1 AUGUST 2024
532,035
TOTAL FUNDS AT 31 JULY 2025
587,093
£
Net income/(expenditure)		 Restricted
Funds
2025
£
-
929,213
-
-
929,213
904,402
904,402
24,811
24,811
164,600
189,411
**£ **		 Total
Funds
2025
£
1,530,385
1,670,100
530,082
9,839		 Total
Funds
2024
£
1,481,305
1,519,011
470,744
6,859
3,740,406 3,477,919
3,660,537 3,577,995
3,660,537 3,577,995
79,869 (100,076)
79,869
696,635		 (100,076)
796,711
776,504
**£ **		 696,635
_£ _

18

UNIVERSITY OF SURREY STUDENTS, UNION Company limited by guarantee (registered company no. 074702321 CONSOLIDATED BALANCE SHEET As at 31 July 2025 Notes Charity 2025 Group 2025 Charity 2024 Group 2024 FIXED ASSETS Tangible assets Investments 12 13 132.809 132,809 182,690 182,690 132,810 132,809 182,697 182,690 CURRENT ASSETS Stocks Debtors Cash al bank and in hand 38,976 103,108 741,298 47,101 790,054 520,974 204,133 576,590 315,408 411,617 780,723 883,382 727,025 758, 129 CREDITORS- amounts falllng due within one year 1153,107} 1239,6871 (186,819) (244,184) CURRENT ASSETS 627,616 643,695 540,206 513,945 TOTAL ASSETS LESS CURRENT LIABILITIES 760.426 776.504 722,897 896,635 TOTAL NET ASSETS 760.426 £ 776,504 722,897 £ 696,635 FUNDS Unreslri¢led funds.. Subsidiary companies General fund 17 16,078 571,015 587,093 189,411 (26,262) 558,297 532,035 164,600 571.015 571,015 189,411 558,297 558,297 164,600 Restri¢lgd funds 760,426 £ 776,504 722,897 £ 696,635 The financial statements have been prepared in 8¢¢ordance with the special provisions in Part 15 of the Companies A¢1 2006 relating lo small ¢ompanies and section la ol the Financial Reporting Standard 102. Thè financial statements were approved, and aLJthorised for issue, by the Board of Trustees on and signed on their behalf by'.- Trustee The annexed notes form part of these financial statements

UNIVERSITY OF SURREY STUDENTS' UNION

CONSOLIDATED CASH FLOW STATEMENT For the year ended 31 July 2025

Cash flows from operating activities
Surplus/(deficit) for the financial year
Adjustments for:
Depreciation
Decrease/(increase) in stocks
Decrease in debtors
Decrease in creditors
Investment income
Interest paid
Cash flows from investing activities
Purchase of tangible fixed assets
Return on investment - interest receivable
Cash flows from financing activities
Interest paid
Net increase/(decrease) in cash and cash equivalents
Cash and cash equivalents at 1 August 2024
Components of cash and cash equivalents
Cash at bank and in hand
Cash and cash equivalents at 31 July 2025		 At 1
August 2024
520,974
**£ **		 2025
£
79,869
55,817
8,125
86,947
(4,498)
(9,839)
15,796
232,217
(5,936)
9,839
3,903
(15,796)
(15,796)
220,324
520,974
741,298
£
Cashflows
220,324
**£ **		 2024
£
(100,076)
53,437
(8,872)
92,971
(65,197)
(6,859)
13,936
(20,660)
(37,005)
6,859
(30,146)
(13,936)
(13,936)
(64,742)
585,716
520,974
_£ _
At 31 July
2025
741,298
**£ **

20

UNIVERSITY OF SURREY STUDENTS' UNION

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS For the year ended 31 July 2025

1. ACCOUNTING POLICIES

Basis of preparation of financial statements

The financial statements of the charity, which is a public benefit entity under FRS102, have been prepared under the historical cost convention. They have been prepared in accordance with applicable United Kingdom accounting standards, the requirements of the Statement of Recommended Practice 'Accounting and Reporting by Charities' (SORP 2019), in accordance with the Financial Reporting Standard applicable in the UK (FRS 102) and the Companies Act 2006. The presentational currency of the financial statements is Pound Sterling (£).

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

Consolidated financial statements ('group accounts') have been prepared in respect of the charity and its wholly owned subsidiary, Origin Events Limited. The parent has taken the exemption from presenting its unconsolidated profit and loss account under section 408 of the Companies Act 2006 and as permitted by FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note.

Going Concern

The charity has cash resources and is supported by the University of Surrey. Having reviewed budgets, forecasts and cash-flows, the trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. They continue to believe the going concern basis of accounting appropriate in preparing the annual financial statements.

Company status

The University of Surrey Students' Union is an incorporated charity registered in the UK (Charity Number 1142479. Company Number 07470232) with its registered office at Union House, Guildford, Surrey, GU2 7XH.

The principal activities are campaigning, representation, provision of social activities and the organisation of sporting and recreational activities and opportunities.

Fund accounting

The University of Surrey Students' Union administers and accounts for a number of charitable funds, as follows:-

Unrestricted Funds representing unspent income which may be used for any activity/purpose at the Executive Committee's own discretion;

Restricted funds raised and administered by USSU for specific purposes, such as Club and Societies Accounts, as well as revenue received for purposes specified by the donor. The costs of raising and administering such funds are charged against the specific fund.

Capital grant funds are released annually in line with the depreciation policy on the capital spend.

21

UNIVERSITY OF SURREY STUDENTS' UNION

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS For the year ended 31 July 2025

Incoming resources

All income, including grants and capital resources are recognised in the accounts when the charity is legally entitled to the income and the amount can be quantified with reasonable certainty, and on an accruals basis.

Grants received are credited to income according to the period to which they relate and treated as unrestricted unless restrictions are specified by the provider relating to spending of that income, in which case they are treated as restricted.

Income from commercial activities includes amounts received in exchange for supplying goods and services through the Union's bar, catering and retail outlets, with amounts recognised based on the date of sale.

Club and societies' income includes membership, sponsorship and grant income which is treated as restricted.

Resources Expended

Expenditure is accrued as soon as a liability is considered probable, discounted to present value for longer term liabilities. Expenditure includes irrecoverable VAT and comprises the direct and indirect costs of delivering public benefit.

Other central overhead costs are apportioned to charitable and other projects/activities on a usage basis, pro

Tangible fixed assets and depreciation

Fixed assets are stated at cost less accumulated depreciation. Equipment, fixtures and fittings are included at cost. Depreciation is provided at the following annual rates in order to write the cost of assets off over their estimated useful lives:-

Fixtures and Fittings 10% per annum straight line Equipment 10 - 33% per annum straight line Computer Hardware 20 - 50% per annum straight line Computer Software 20 - 33% per annum straight line

Termination benefits

Termination benefits are accounted following a commitment by legislation, by contractual or other agreements with employees to make payments (or provide other benefits) to employees when the Union terminates their employment.

Stocks

Stock is valued at the lower of cost and net realisable value.

22

UNIVERSITY OF SURREY STUDENTS' UNION

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS For the year ended 31 July 2025

Debtors

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

Cash at bank and in hand

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

Creditors and provisions

Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

Financial Instruments

The charity holds only financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments include cash debtors and creditors. Debtors and creditors are initially recognised at transaction value and subsequently measured at fair value. Cash is cash at bank and in hand.

Pensions

The Union now operates a defined contribution pension scheme and the pension charge represents the amounts payable by the company to the fund in respect of the year. Differences between contributions payable in the year and paid are shown as accruals or prepayments in the balance sheet.

Judgements and key sources of estimation uncertainty

Judgements and key sources of estimation uncertainty are detailed in the above accounting policies, where applicable. The directors consider that there are no material judgements in applying accounting policies or key sources of estimation uncertainty.

Leased Assets

Rentals payable under operating leases are charged as expenditure on a straight line basis over the period of the lease.

Taxation

The Union meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the Union is potentially exempt from taxation in respect of income or capital gains received within categories covered by part 11, chapter 3 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.

2.
DONATIONS AND LEGACIES
University Block Grant		 Unrestricted
Funds
2025
£
1,530,385
1,530,385
**£ **		 Restricted
Funds
2025
£
-
Nil
£		 Total
Funds
2025
£
1,530,385
1,530,385
**£ **		 Total
Funds
2024
£
1,481,305
1,481,305
_£ _

23

UNIVERSITY OF SURREY STUDENTS' UNION

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS For the year ended 31 July 2025

2. DONATIONS AND LEGACIES (continued) Comparative donations and legacies

Unrestricted
Funds
2024
£
University Block Grant
1,481,305
1,481,305
£
3.
INCOME FROM OTHER TRADING ACTIVITIES
Unrestricted
Funds
2025
£
Rental income
182,783
Event income
327,713
Other income from activities
19,586
530,082
£
Comparative income from other trading activities
Unrestricted
Funds
2024
£
Rental income
162,572
Event income
293,068
Other income from activities
15,104
470,744
_£ _		 Restricted
Funds
2024
£
-
Nil
£
Restricted
Funds
2025
£
-
-
-
Nil
£
Restricted
Funds
2024
£
-
-
-
Nil
£		 Total
Funds
2025
£
182,783
327,713
19,586
530,082
**£ **		 Total
Funds
2024
£
1,481,305
1,481,305
_£ _
Total
Funds
2024
£
162,572
293,068
15,104
470,744
_£ _
Total
Funds
2024
£
162,572
293,068
15,104
470,744
_£ _

24

UNIVERSITY OF SURREY STUDENTS' UNION

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS For the year ended 31 July 2025

4.
INVESTMENT INCOME
Unrestricted
Funds
2025
£
Interest receivable from:
Bank interest
9,839
9,839
£
Comparative investment income
Unrestricted
Funds
2024
£
Interest receivable from:
Bank interest
6,859
6,859
£
5.
INCOME FROM CHARITABLE ACTIVITIES
Unrestricted
Funds
2025
£
Clubs and Societies
-
Primary purpose trading
740,887
740,887
£
Comparative income from charitable activities
Unrestricted
Funds
2024
£
Clubs and Societies
-
Primary purpose trading
692,266
692,266
_£ _		 Restricted
Funds
2025
£
-
Nil
£
Restricted
Funds
2024
£
-
Nil
£
Restricted
Funds
2025
£
929,213
-
929,213
£
Restricted
Funds
2024
£
826,745
-
826,745
_£ _		 Total
Funds
2025
£
9,839
9,839
£
Total
Funds
2025
£
929,213
740,887
1,670,100
**£ **		 Total
Funds
2024
£
6,859
6,859
_£ _
Total
Funds
2024
£
6,859
6,859
_£ _
Total
Funds
2024
£
826,745
692,266
1,519,011
_£ _
Total
Funds
2024
£
826,745
692,266
1,519,011
_£ _

25

UNIVERSITY OF SURREY STUDENTS' UNION

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS For the year ended 31 July 2025

6.
RESOURCES EXPENDED
Cost of
sales
£
Cost of charitable activities
Clubs and societies
-
Central
-
Community
391,697
Support
-
Voice
-
Total charitable
expenditure
391,697
**£ **		 Staff Costs
£
232,687
151,401
550,380
260,325
251,958
1,446,751
**£ **		 Other direct
costs
£
1,089,782
93,254
358,733
2,940
19,046
1,563,754
**£ **		 Support
costs
£
45,294
39,439
62,554
56,797
54,251
258,335
**£ **		 Total
2025
£
1,367,763
284,093
1,363,364
320,062
325,255
3,660,537
**£ **

Restricted expenditure amounting to £904,402 (2024 - £849,750) related to activities for clubs and societies are reported under other direct costs in this note

Comparative resources expended
Cost of
sales
£
Cost of charitable
activities
Activities
-
Central
-
Community
436,426
Support
-
Voice
-
Total charitable
expenditure
436,426
_£ _		 Staff Costs
£
231,666
154,816
569,044
261,820
224,077
1,441,419
_£ _		 Other direct
costs
£
989,765
41,288
289,223
(20,007)
(17,488)
1,282,781
_£ _		 Support
costs
£
81,367
71,897
101,367
81,367
81,367
417,365
_£ _		 Total
2024
£
1,302,798
268,001
1,396,060
323,180
287,956
3,577,995
_£ _

Restricted expenditure amounting to 849750 related to activities for clubs and societies are reported under other

Resources expended include:

2025 2024
Auditors’ remuneration:
Audit fee 24,875 25,951
Depreciation - on owned assets 55,817 53,437

Details of staff costs are given in Note 9. Details of administration costs is given in Note 8.

26

UNIVERSITY OF SURREY STUDENTS' UNION

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS For the year ended 31 July 2025

7. CENTRAL OVERHEAD COSTS

Central costs below are included in the resources expended in note 6.

Cost of charitable activities
Activities (C&S)
Central
Community
Support
Voice
expenditure
Comparative central overhead costs
Cost of charitable
activities
Activities (C&S)
Central
Community
Support
Voice
Total charitable
expenditure		 Rent
£
20,000
10,530
40,000
20,000
20,000
110,530
Rent
£
20,000
10,530
40,000
20,000
20,000
110,530		 Other costs
£
25,294
28,909
22,554
36,797
34,251
147,805
Other costs
£
61,367
61,367
61,367
61,367
61,367
306,835		 Total
£
45,294
39,439
62,554
56,797
54,251
258,335
Total
£
81,367
71,897
101,367
81,367
81,367
417,365

8. ADMINISTRATION COSTS

ADMINISTRATION COSTS
Insurance
Premises costs
Office running costs
Audit Fee
Training and Development
IT and equipment costs
Depreciation
Trustees & meeting expenses		 2025
£
86,614
176,240
206,275
24,875
98,040
37,811
55,818
2,008
687,681		 2024
£
64,182
173,247
190,349
25,951
99,617
26,617
53,438
3,735
637,136
_£ _

27

UNIVERSITY OF SURREY STUDENTS' UNION

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS For the year ended 31 July 2025

9. STAFF NUMBERS AND COSTS

Wages and salaries
Social security costs
Pension costs
Staff accrued holiday pay
Other staff costs
Permanent staff
Student staff
The cost of key management was as follows:
Sabbatical Officers
Senior management
Number of Sabbatical Officers
The average weekly number of employees, head count, during the period
was:		 2025
£
1,252,255
107,540
85,891
1,065
0
1,446,751
Number
27.0
80.0
107.0
£
133,762
242,069
375,831
£
4		 2024
£
1,250,696
98,155
85,954
6,619
(5)
1,441,419
_£ _
Number
29.0
148.0
177.0
£
104,377
347,995
452,372
_£ _
4

One (2024 - One) employee received remuneration of more than £80,000. The accounts include termination payments totalling £39,573 (2024 - £Nil).

The key management personnel of the Charity are those persons having authority and responsibility for planning, directing and controlling the activities of the Charity, directly or indirectly, including any Trustee of the Charity. In addition to the Trustees, key management personnel includes the Sabbatical Officers and senior management.

Full time sabbatical officers in post were paid an average annual salary of £22,754 (2024: £25,191). Total costs are shown in note 9.

28

UNIVERSITY OF SURREY STUDENTS' UNION

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS For the year ended 31 July 2025

10. TRUSTEES REMUNERATION AND BENEFITS

Sabbatical officers are paid as authorised in the Union's governing document, for the representation, campaigning and support work they undertake as distinct from their trustee responsibilities. This work included voicing student opinion with the University and local community, defending and extending the rights of students through petitions etc. and also organising and supporting student volunteers and service provision for them. Details are included in note 9.

No members of the Board of Trustees received reimbursement of expenses (2024 - £nil).

11. Taxation

University of Surrey Students' Union is a registered charity and is potentially exempt from taxation in respect of income and capital gains received within the categories covered by Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992 to the extent that such income or gains are applied to charitable purposes.

12. TANGIBLE FIXED ASSETS

Cost
At 1 August 2024
Additions
At 31 July 2025
Depreciation
At 1 August 2024
Charge for the year
At 31 July 2025
Net book value
At 31 July 2025
At 31 July 2024		 Fixture &
Fittings
£
912,696
-
912,696
844,819
17,339
862,158
50,538
£
67,877
_£ _		 Equipment
£
245,733
5,936
251,669
130,920
38,478
169,398
82,271
£
114,813
_£ _		 Software
and
Hardware
£
227,111
-
227,111
227,111
-
227,111
Nil
£
Nil
£		 Total
£
1,385,540
5,936
1,391,476
1,202,850
55,817
1,258,667
132,809
**£ **
182,690
_£ _

29

UNIVERSITY OF SURREY STUDENTS' UNION

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS For the year ended 31 July 2025

13. INVESTMENTS

Cost
At 1 August 2024
At 31 July 2025		 Investments in
subsidiary
undertakings
£
1
1
**£ **

The company holds 20% or more of the share capital of the following companies:

Company Country of registration Shares held
or incorporation Class %
Origin Events Limited (Reg no. 05048518) England and Wales Ordinary 100

14. INVESTMENT IN SUBSIDIARIES

The results and capital of Origin Events Limited were as follows:

Turnover
Expenditure
Gift aid donations to Charity
Profit/(loss) in the year
Retained profit brought forward
Retained profit brought forward
Current assets
Liabilities
Net assets
Share capital
Reserves
Capital and reserves		 2025
£
1,141,310
(1,098,970)
42,340
-
42,340
(26,262)
16,078
£
272,528
272,528
(256,450)
16,078
£
1
16,077
16,078
**£ **		 2024
£
1,092,495
(1,118,757)
(26,262)
(144,152)
(170,414)
144,152
(26,262)
£
293,014
293,014
(319,276)
(26,262)
£
1
(26,263)
(26,262)
£

30

UNIVERSITY OF SURREY STUDENTS' UNION

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS For the year ended 31 July 2025

15. DEBTORS
Charity
Group
Charity
2025
2025
2024
Due within one year
£
£
£
Trade debtors
26,367
93,651
22,105
Due from group undertakings
169,869
-
262,061
Prepayments
6,583
8,143
30,671
Other debtors
1,314
1,314
571
204,133
£
103,108
£
315,408
£
16. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Charity
Group
Charity
2025
£
Trade creditors
40,547
47,506
78,959
Social security and other taxes
41,067
69,721
48,334
Other creditors
35,752
78,719
6,127
Accruals
35,741
43,741
53,399
153,107
£
239,687
£
186,819
£
17. STATEMENT OF FUNDS
Transfers and
Brought
Incoming
Resources
investment
Forward
Resources
Expended gains/(losses)
£
£
£
£
RESTRICTED FUNDS
Clubs and Societies
164,600
929,213
(904,402)
-
164,600
£
929,213
£
(904,402)
£
Nil
£
SUMMARY OF FUNDS
Subsidiary companies
(26,262)
1,141,310
(1,098,970)
-
General Funds
558,297
1,669,883
(1,657,165)
-
532,035
2,811,193
(2,756,135)
-
Restricted Funds
164,600
929,213
(904,402)
-
696,635
£
3,740,406
£
(3,660,537)
£
Nil
£		 Group
2024
£
121,105
-
36,231
32,718
190,054
_£ _
Group
2024
£
121,254
48,334
7,704
66,892
244,184
_£ _
Carried
Forward
£
189,411
189,411
**£ **
16,078
571,015
587,093
189,411
776,504
**£ **

31

UNIVERSITY OF SURREY STUDENTS' UNION

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS For the year ended 31 July 2025

17. STATEMENT OF FUNDS (continued)

Comparative statement of funds for the year ended 31 July 2024

RESTRICTED FUNDS
Clubs and Societies
SUMMARY OF FUNDS
Subsidiary companies
General Funds
Restricted Funds		 Brought
Forward
£
187,605
187,605
£
144,152
464,954
609,106
187,605
796,711
£ 		Incoming
Resources
£
826,745
826,745
£
1,092,495
1,558,679
2,651,174
826,745
3,477,919
£ 		Transfers and
Resources
investment
Expended gains/(losses)
£
£
(849,750)
-
(849,750)
£
Nil
£
(1,118,757)
(144,152)
(1,609,488)
144,152
(2,728,245)
-
(849,750)
-
(3,577,995)
£
Nil
£		 Carried
Forward as at
31 July 2024
£
164,600
164,600
£
(26,262)
558,297
532,035
164,600
696,635
£

18. ANALYSIS OF NET ASSETS BETWEEN FUNDS

ANALYSIS OF NET ASSETS BETWEEN FUNDS
Unrestricted Funds
Designated
General
Funds
Funds
£
£
Tangible fixed assets
-
132,809
Net current assets
-
454,284
Nil
£
571,015
£
Comparative analysis of net assets between funds
Unrestricted Funds
Designated
General
Funds
Funds
£
£
Tangible fixed assets
-
182,690
Net current assets
-
349,345
Nil
£
558,297
£ 		Restricted
Funds
£
-
189,411
189,411
£
Restricted
Funds
£
-
164,600
164,600
£ 		Total
Funds
£
132,809
643,695
776,504
**£ **
Total
Funds
£
182,690
513,945
696,635
£

32

UNIVERSITY OF SURREY STUDENTS' UNION

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS For the year ended 31 July 2025

19. PENSION COMMITMENTS

In 2011 the Union moved from a defined benefit to a defined contribution retirements benefit scheme. As part of the arrangement, the liability for deficits relating to past service of TUPE employees remained with the University. The Union pays contributions for TUPE employees at a rate of 16% of pensionable salary for former members of USS and 16.4% for former members of LGPS. The pension contribution rate for staff commencing employment after 1st August 2011 is 4% and the rate for those on the auto enrolment scheme is 3%. However, from January 2023 employer contributions for all staff who were not TUPE employees was 8%. The total pension cost for the year was £85,891 (2024: £85,954).

20. RELATED PARTIES

The Union is in receipt of a recurrent grant from the University of Surrey of £1,530,385 (2024:£1,481,305). The year end net balance owed by the University was £47,643 (2024: owed from £32,715). The sabbatical members of the executive committee receive remuneration for their services as provided for within the Constitution. The aggregate amont payable under such contracts in the year was £133,762 (2024: £111,121).

The charity has a wholly owned subsidiary, Origin Events Limited, which is a related party under FRS 102. However, as the subsidiary’s results are consolidated into the group financial statements, transactions between the charity and the subsidiary are not separately disclosed. The results of the subsidiary are presented in Note 14.

21. CONTROLLING PARTY

Ultimate control of the University of Surrey Students' Union rests with its membership, represented by the Union Trustee Board.

23. LEASING COMMITMENTS - GROUP AND UNION

At 31 July 2025 the Union had annual commitments under non-cancellable operating leases as detailed below:

2025 2024
£ £
Plant and Machinery
Operating leases expiring within one year 50,254 59,482
Operating leases expiring within more than 150,457

Lease payments during the year were £59,482 (2024: £121,832).

33

UNIVERSITY OF SURREY STUDENTS' UNION

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS For the year ended 31 July 2025

22 COMPARATIVE CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted d tal
Unrestricted
Restricted
Total
Funds s ds
Funds
Funds
Funds
2025 5 025
2024
2024
2024
£ £
£
£
£
£
INCOME AND ENDOWMENTS FROM:
Donations and legacies
#
1,481,305
-
1,481,305
Charitable activities
#
692,266
826,745
1,519,011
Other trading activities
#
470,744
-
470,744
Investments
#
6,859
-
6,859
TOTAL
#
2,651,174
826,745
3,477,919
EXPENDITURE ON:
Charitable activities
#
2,728,245
849,750
3,577,995
#
(77,071)
(23,005)
(100,076)
NET MOVEMENT IN FUNDS
#
(77,071)
(23,005)
(100,076)
TOTAL FUNDS AT 31 JULY 2023
#
609,106
187,605
796,711
TOTAL FUNDS AT 31 JULY 2024
#
532,035
£
164,600
£
696,635
£
Net expenditure		 22 COMPARATIVE CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted d tal
Unrestricted
Restricted
Total
Funds s ds
Funds
Funds
Funds
2025 5 025
2024
2024
2024
£ £
£
£
£
£
INCOME AND ENDOWMENTS FROM:
Donations and legacies
#
1,481,305
-
1,481,305
Charitable activities
#
692,266
826,745
1,519,011
Other trading activities
#
470,744
-
470,744
Investments
#
6,859
-
6,859
TOTAL
#
2,651,174
826,745
3,477,919
EXPENDITURE ON:
Charitable activities
#
2,728,245
849,750
3,577,995
#
(77,071)
(23,005)
(100,076)
NET MOVEMENT IN FUNDS
#
(77,071)
(23,005)
(100,076)
TOTAL FUNDS AT 31 JULY 2023
#
609,106
187,605
796,711
TOTAL FUNDS AT 31 JULY 2024
#
532,035
£
164,600
£
696,635
£
Net expenditure		 22 COMPARATIVE CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted d tal
Unrestricted
Restricted
Total
Funds s ds
Funds
Funds
Funds
2025 5 025
2024
2024
2024
£ £
£
£
£
£
INCOME AND ENDOWMENTS FROM:
Donations and legacies
#
1,481,305
-
1,481,305
Charitable activities
#
692,266
826,745
1,519,011
Other trading activities
#
470,744
-
470,744
Investments
#
6,859
-
6,859
TOTAL
#
2,651,174
826,745
3,477,919
EXPENDITURE ON:
Charitable activities
#
2,728,245
849,750
3,577,995
#
(77,071)
(23,005)
(100,076)
NET MOVEMENT IN FUNDS
#
(77,071)
(23,005)
(100,076)
TOTAL FUNDS AT 31 JULY 2023
#
609,106
187,605
796,711
TOTAL FUNDS AT 31 JULY 2024
#
532,035
£
164,600
£
696,635
£
Net expenditure
826,745 3,477,919
849,750 3,577,995
(23,005) (100,076)
(23,005)
187,605		 (100,076)
796,711
164,600
_£ _		 696,635
_£ _

34