Company registration number: 07623917
R•Jistered charity number: 1142616
University of Central Lancashire
Students.
Union
UNIVERSITY OF CENTRAL LANCASHIRE
STUDENTS. UNION
FINANCIAL STATEMENTS
31 JULY 2024

UNIVERsrrY OF CENTRAL LANCASHIRE STUDENTS, UNION
FINANCIAL STATEMENTS
YEAR ENDED 31 JULY 2024
coTrrrENTS
PAGE
Trust￿ and Union Infomplion
Report of the Trustees
Independenl Auditors, Rewrl to the Members
14
Statement of Finanaal Activities
18
Balance Sheet
19
Cash Flow Slatement
Notes to the Finanaai SlatenEnts
21

UNIVERSITY OF CENTRAL LANCASHIRE STUDENTS. UNION
REPORT OF THE TRusfEES FOR THE YEAR ENDED 31 JULY 2024
TRusfEE AND UNION INFORMATION
BOARD OF TRUSTEES 2024125
Luke Fitzgerald
President
Joseph Bigland
VI￿ Pre&dent Welfare
Charlotte Lastoweckyi Vice President Education
Sophie Barratt
Vice President Activities
Syed Manan
Manya Raj
Student Trustee {resigned 22rxt August 2024)
Student Trustee (apwinted 28th Novetnber 2024)
Emma Sims
Dani Beckett
External Trustee
Externai Trustee
BOARD OF TRUSTEES 2023124
Luke Fitzgerald
President (appointed 1st July 2023)
Joseph Bigland
Vice President Welfare (appointed 1 St July 2023)
Charlotte Lastoweckyi Vice President Education (appointed 1 St July 2023)
Sophie Barratt
Vice President Activities (apwinted 1 St July 2023)
Syed Manan
Student Trustee (aptM)inted 1st December 2023)
Mordecai Mambohwa Student Trustee (appointed 1 St De￿rt￿er 2023. resigned 20th
June 2024)
Emma Sims
External Trustee
Dani Beckett
External Trustee (appointed 1 Si December 2023)
Geoff Birch
Extemal Trustee (resigned 2TrJ October 2023)
Jose Sedano-martinez Extemal Trustee (resigned 5th Augusl 2023)
COMPANY SECREfARY
J Russ
Resigned 19th December 2023
G Wright
Appointed 19th December 2023
KEY MANAGEMEKf PERSONNEL
Chief Executive Officer
Director of Operations & Activities
Director of Finan￿ and Performance
Director of Finance and Services
Director of Membership Voice
S Hartley
J Russ
L M Stott (re￿gned 6th October 2023)
G Wrighl (appointed 1 St November 2023)
th
H Mason {appointed 18 September 20231

UNIVERSITY OF CENTRAL LANCASHIRE STUDENTS. UNION
REPORT OFTHETRusfEES FOR THE YEAR ENDED 31 JULY 2024
REGISTERED OFFICE
24 Fykle Road
Preston
Lancashire
PR17BY
AUD￿oRs
Haines Watts
Statutory Auditor
3 Hoor Pacific Chambers
11-12 Victoria Street
verwol
L2 5QJ
BANKERS
HSBC
PO Box 70,
40 Fishergate
Preston
PR12AD

UNIVERSITY OF CENTRAL LANCASHIRE STUDENTS, UNION
REPORT OFTHETRUSTEES
YEAR ENDED 31 JULY 2024
The Board of Tnjstees are pleased lo present their Annual Report for the year ended 31 st July
2024 which includes the information set out on page 1 of this report. together wtth an account
of activities and impact and the audited accounts for that year.
The 2023124 academic year has seen us K)und off our previous strategy and work on our
new one for 2024-2028. StLKlents will always remain at the I￿art of what we do and a key
focus for us as an organisalion is how we can positNely impact stLKlents' lives, both their
academic experien￿ and also their university joumey. We do a k)t of things as an
organisation, but with Student Life and Student Voice centrd to r( all, our mission always has
our members at the forefront of our impa(#.
OUR MISSION
The Union's mission is Yo make student Itle the best it ian be. wtih the following long-term
aims: .
To promote the interests of students during their u)urse of study.
To represent. supp)rt and advise students.
To provide social and recreational activtlies for st￿je￿tS arKI, by so doing. advance the
8ducation of the students at the Untversty of Central Lancashire for the benefit of the
public.
b)
The Union has activities and semces lor use by nEmbers and lo support work with the
University and other organisations on behaw of stLKlents. Th&se include support for student
representation throughout the University. the Unkjn's i￿lependent SLJdenl Advice Centre,
the Union's Activities offi￿ supporting club: society and volunteeriro actwities, Pulse
Student Media, induction adivities inclLKling WelrAirne Week, connecting students to
discounts Ihrough Totum. The Union also offers space for sludents to socialisg, relax and
purchase food and drinks via our social entetprise outlets and social spaces.
The Union, ￿en reviewing or planning its activtties. Conside￿ the Charity Commission's
general and relevant guidance on public beneftt and has complied with the duty in Section
4 of the 2006 Charities Act to have due regard to guidan￿ on public benefit published by
the Charity Commission.
UNION ACHIEVEMENTS
As well as wort(ing iowards our stralegic priorities. we also set annual 'Union Priorilies,.
These are shaped from our Full-time OF11￿￿S manrfestos and other timely research and
insight to ensure we are tocused on the things that students need from us. We embedded
these priorities into our operational planning to ensure they are not solely the responsibility of
an Off I￿r, but they were instead a shared set of organisatK)nal goals permanent staff wuld
support.

UNIVERSITY OF CENTRAL LANCASHIRE STUDENTS. UNION
REPORT OFTHETRUSTEES
YEAR ENDED 31 JULY 2024
STUDENT VOICE
Siudents are central to everythir¥J we do. We're a democrat￿ organisation with students at
the heart of the decision making and leadership of the Students. UnK)n. Whether we're
stioking up for students or empowering them to speak up. the st￿Jent voice is deep rooted
nto both the day-to-day and strategy of the Union.
This year we continue to support and develop our elected reps, empowering them to use
their voice to create positive change on camws and in the community. At a Universty level.
we delivered critical voice and feedback on the Universty's Mitigating Circumstances policy
and procedure. While this work is ongoing into 2024125, we spent this year gaining helpful
insight from the students. including inviting the UnNerstty to a stuthnt roundtable on the
issue.
Another way we have impact Universty p)I￿Y is knbbying for a preferred name policy ihrough
the Say My Name campaign. Similar to Mtligaling Circumstances. this work has laken us into
2024125 however we're working collaboralively wtth the Universty's Equaltty, Diversity and
Inclusion team on this as well as other key guKlance for supporting the T￿ns. Community.
We need to continually listen to our students. not just for feedback but to also understand
who our students are. Increasing the nUM￿r of student written tjogs on lived ex￿rienCe
across our website and communication channels has helped us gain greater understanding
of the student joumey and the issues they face.
One way to bring student Vol￿ to the heart of the key decision makers at the Universty was
through our VI￿ ChancelEor's Question Time event. This was a new initiative ￿]ch brought
together the most senior staff and our students, who were able to ask questions. share their
views and also get lo know the Chancellor's Group IVCG). The first event proved
successful and led to a o)mmitment from VCG at the event, to work on bringing free peri(KJ
provisions to campus lor students. This work has started a￿1 we're looking forward to seeing
it finalise in 2025. The event worked so well. it's aLso making a retum in Febtuary 2025.
Our Get Together progRmme consists of several events throughout the year sutvorting our
black students. disabled students. LGBT. students and intemational students. Each
community had events aimed at bringing their communty together to socialise, feedback on
their experience and find their home away Irom home. Su(x£ssful social evenls also helwl
prove as Su￿ssful listening exercises: with the Union able kn gain imwrtant leedback to
take to other spaces on behalf of those students.
While delivering and acling on student Vol￿ at a ￿MpuS level is key, we also branched out
into wKler society throughout the year through iNpactFul campaiJns such as our Ban
Gonversion Therapy and Man Down {men's mental heatthl campaigns. Both reaching out to
other Students, Unions across the UK, provKJing campaign materials to raise awareness and
create an impact further afield. The Ban COnvers￿n Therapy led by our Trans. Students Rep
has seen hundreds of tN)Stcards to MPS to lobby Ihe Govemmenl. The ￿aMpaIgn'S impact
was noticed nationally and plawl in Ihe lop Ihree at the Student Pride Awards for Campaign
of the Year.

UNIVERSITY OF CENTRAL LANCASHIRE STUDENTS, UNION
REPORT OFTHE TRUSTEES
YEAR ENDED 31 JULY 2024
Away from campaigns, a lot of wort was undertaken to improve and utxlate the Union's
byelaws. They were out of date and proved dtfficuh for students to ¢reate change, our
byelaws should never be a barrier to stLKlents. The work done to itnprove thern has seen our
processes become less bureaucratic for committee leaders helping them rEJn their student
groups more effectively and also ensure the process to make change is clear and simple.
Student voice isn't always about lolA)ying for change, our St￿entS submitted over 1000
nominations in our Golden Roses awards, vthich aims to celebrate a￿demiC and
professional service staff from across the Untversity at all Ihree ￿mP￿ses. Across three
ceremonies we awarded several staff and seNces. with students at the heart ol Ihe
nominations and shortlisting panels.
As the academic year came to a dose. a Generat Election was announced and our Officer
Team led the work on collaborating with Ihe Universily on voter registralion and encouraging
students to vote on election day. While it's difficull to measure our specific impact on triis, we
can say we played a part in ensuring students utKlerstood their right to vote and contributed
to the numbers from across the UK in young registering and voting increasing.
STUDENT LIFE
Being a student has the potential to change your life in so many ways. However, that doesn't
always mean that University of Central Lancashire sludents have 1 IKJ°/ts of their lime to
dedicale to sludent lrfe. Many of our stLMJents are juggling being a studenl, workitvJ aTKI
supporting their families.
It's crucial to us students feel like. and know. we're here to suprx)rt with all a3￿CtS of their
student life and over the past academic year, the Studenls. Union has signrfiGanlly enriched
student life with a diverse range of innovative projects and initiatives.
This year we had the exctling int￿dUCtion of the Study Break program. which supports
students through the exam and assessment periiml. Study Break hosled activities and study
support sessions in ￿lIatI)ratiOn with the Universty includit¥J an etKJ of year celebration. We
were also able to secLJre funding from the Universty to provide free food to students during
exam weeks.
With the University's adoption ol the Universty Menkl Health Charter to support mental
health on campus, the Students, Union have been invofved in the work and student
submission of the charter. Cementir¥J wellbeing as a ptiority and at the heart of everything
we do.
With over 100 student groups active throughout the year, including a range ol newly formed
groups like the reintroduction of the Jewish Society, our campus community has become
more diverse and dynamic. With sludent groups playing a vtlal role in the experience of their
members, we prioritised making our groups more accessble. Through the inclusion of
disability awareness in committee training, we have helped groups loster a more inclusive
environment. While the A￿sS lo Activities Fund seen more students being able to access
memberships and the￿lOre feel part of events a￿1 activibes.

UNIVERSITY OF CENTRAL LANCASHIRE STUDENTS, UNION
REPORT OFTHETRUSTEES
YEAR ENDED 31 JULY 2024
This year seen a rK)table increase in social sports participation, highlighted by the launch of a
weekly futsal competition aloThJside rBw tum up and play sesstons, which has energised our
recreational sports offer.
While we continue to supwrt and deveknp our volunteers throughout the year, the creation of
the ACES (Awarding and Celebrating Excellent Sludents) end of year event has provided a
celebratory plafform to recI￿nISe the vital contribuiions ol our Voluntee￿ and sludenl staff.
Enhanced relationships through our Media Sales have brought local and national companEs
doser to students, creating a lively atrnosphere in around our buikling, boosting foottall
and helping grow students, knowledge and ￿￿erstandIng of what we do. Addit￿)nallY,
collaborations with exiemal services such as We Are With You and Gender Outreach have
broadened our support networK bringing expertise and stEcialisl support lo our students in
need.
The launch of Latnpworks cre*ed a [￿w. exciling socid Spa￿ in our building for our
members with a new menu, interactive darts arKI week]y events. LampwO￿S also launched
Payback. a scheme which helps put money back into our student groups. Lampworks also
hosted a festive menu during our LamplatKJ lestivities, alongsKle supporting other community
events like Pride, intemalDnal and more.
Over al our satellite campuses in Bumley and Westlakes. we increas&J the number of events
at those campuses including bespoke Welmme and Sludy. Break acttvity. Our satellite
campuses were supported by studenl activators %tho helped grow our student groups,
through society branches or bespoke groups.
Together, these initiatives have not only increased student participation but also
strengthened community ties. makirKJ the Students. Union an integral part of enhancing the
overall student experien￿.
PLANS FOR THE FUTURE
We have crealed a new strategic plan for the ac￿￿eMiC year 25126. This plan has been
shaped by our student metnbers and our staff team and our refreshed mission is to 'Support
students to leam well and live more at Universty,. As part ol the research, we undertook to
build this new strategy it was clear that students need us to be tocussing on three areas af
work to enable them to learn well and live more. These three areas are known in our new
strategy as 'core missions, and they are= tackling the costs ol study, l)oosting wellbeing and
increasing attainment. We will review these missions annually and will be able to shift focus,
if necessary: which should allow us lo keep up wilh the fasl-paced nature of student issues
and challenges. We have set new KPIS lo measure our progress against these missions and
our new strategy as a whole and we wll be report￿ig against these in the future.
To support our new miSS￿n, we have also Sha￿ 5 enabling plans as part of this strategy
plan. These plans are EDI. Datallnsight. Peoplelculture. FinancelResources and
DemocracylRepresentation. These plans have assocAated aGlion plans arKI objectives.

UNIVERSITY OF CENTRAL LANCASHIRE STUDENTS, UNION
REPORT OFTHETRUSTEES
YEAR ENDED 31 JULY 2024
We began work on the Democracy / Representation enabltng plan in August 2024 by
tendering for an external Gonsultant to SUPFXIrt us to review our representation slnjctures.
This work was deern￿ necessary by Trustees the Senior Leadership Team as our
engagement in representation and democracy has been steadily dropping over the last
straiegic period (Sin￿ 20201. That pieGe of work has now come to an end and we are
beginning to implement the recommended changes.
Changes to our representation structures are nol yet fully approved by Trustees and our
members but they are likely to include changes to our full-time Off￿r roles atKI
representative roles on Students. Council. We are also expbring how to bring in Communty
Organising Principals into Ollr organisation in an effort to build more collective power and
tackle the feeling of isolation that are becoming more cotnmonplace amongst our
membership.
We are beginning the work now of ensurirNJ thal our organisation has the right structure and
resources to support these important and exctling changes.
STRUCTURE AND GOVERNANCE
For the period represented by these accounts UCLan Students. Union operated as a
company limited by guarantee (Company No. 76239171 and as a registered charity
{Registered Charity No. 1142616). The Govemance of the Union and its p)wers are
set out in the Articles of Association. The Union operates on democratic principles
with a Students. Council having the powers lo approve the general policy of the
Union and to represent the voice of students at the University. The Students, Council
membership cotry)rises the Union's Elecl&J Officer tearn, logelher with
representalives of student communities: demgraphics, and acadernic schools.
In Ihe period covered by Ihis rep)rt the Union was governed by its Board of Trustees
comprising of elected students, students appointed by the Board and External (Lay)
Trustees. This arrangement ensures that the Board has Ihe diverse range of S￿1[5,
knowledge and experience needed in order lo carry out its role effectively. The
elected officer roles of Union President: Vice President Education, Vice President
Welfare and Vice President Activities are full-time paid posts and remunerated as
authorised by the 1994 Education Act. Other Trustee roles are volunteers.
The Board of Trustees receive an induction into their legal and administrative
responsibililies from the Nationai Council for Voluntary Organisations {NCVO) of
which the Union is a member. participate in learning and development opportunities
offered by the National Union of Students {NUS) and others and have on-going
training to ensure they are sutfiaently well infornEd to carry oul their responsibilities.
The Board of Trustees has delegated resp)nsibilTty for the the day-to-day running ot
the Union to the Chief Executive offi￿r, Stefanie Hartley, through a Statement of

UNIVERSITY OF CENTRAL LANCASHIRE STUDENTS. UNION
REPORT OFTHETRUSTEES
YEAR ENDED 31 JULY 2024
Delegated Authority (SODA}- The Tnjstees of the Charity receive regular reporls
from the Chief Executive and senior managers and revtew the Union's pertormance.
The relationship between Ihe Board and the Chief Execulive is fundamental to
effective governance and management of the Union. It is the responsibility of the
Board to ensure that the Chief Executive has clear objectives: to review perfomiance
and consider the development of Iheir employees alongside that of the charity. One
element of this is to ensure that Ihe CEO is appropriately remunerated, and that the
basis of this remuneration is understood by the Board aThJ CEO. The Board has
undertaken a review of salaries and benefits paid to CEOS in Students, Unions a￿1
the voluntary sector in order to establish a suitable level of remuneration.
RISK MANAGEMENT
The Board of Trustees has examined the major strategic business and operational
risks faced by the Union. The Union has a risk register Ihat is remewed and u￿lated
on a regular basis. Where appropriate the Union has established systems or
procedures to mits'gate the risks the charity faces.
Budgetary, fraud and internal conlrol risks are minimised by Ihe implementation ol
procedures for the authorisation of all transactions and projects. Procedures are in
place to ensure compliance with health & safety of staff, volunteers, and participants
in all the activities organised by the Union. These procgjures are reviewed
periodically to ensure they are effective and continue to meet the needs of the
charity. The Union has not suffered any serious incident to be reported to the Charity
Commission and internal conlrols have been reviewed and are found to be adequate.
THE RELATIONSHIP BETWEEN THE UNION AND UCLan
The Union receives a grant from the University and occupies buildings owned by the
University. The University also pays for utilities, careta5ong and deaning staff as well
as providing support for ICT neiworks. health & safety advice. HR advice and
telecommunications. This non-monetary support is integral lo the success of the
Union and to Ihe relationship belween the University and the Union. In the current
year, reflecting the requirements of the SORP, this non-monetary support is induded
in the Union's Accounts.
In order to strenglhen and deepen our partnership in 2017 the President of the
Union, Chair of the Board of the University, Ihe University Vice-chancellor. and
Union's Chief Executive Off i￿r signed a Partnership Agreement. Based on guidance
from the NUS (Nalional Union of Students) arKI Association of University Chairs the
partnership agreement codifies how the two bodies will work iogether in their mutual
interest.

UNIVERSITY OF CENTRAL LANCASHIRE STUDENTS, UNION
REPORT OF THETRUSTEES
YEAR ENDED 31 JULY 2024
AFFILIATIONS TO OTHER BODIES
The Union affiliates to several organisations in order to benefft from training,
professtonal development opportunities and information induding Advice UK.
The University itself affiliates to the National Goveming Bodies for many sports:
however our clubs affiliate direclly for the following sports: Archery. Ju-Jitsu and
Mountaineering to facilitate sludent sport parlicipation and inter-university
competition.
The Union also affiliates to the National Union of Siudents (NUS UK) for the national
representation of student's interests and Ihe NNllder raThJe of benefits, support. and
cost sawngs it receives. The Union is an aclive participanl in NUS UK and NUS
Charity and their related companies to ensure that the organisation continues to
function effectively on behalf of members. The Trustees have reviewed the cost and
benefit of NUS menljership and are conlent that there is sgnificant nei benefit from
our involvemenl.
FINANCIAL REPORT
Nel Operating result for the year 2023124
The net operating surplus of £89K shows an increase of 17 /0 over the previous year.
In addition, the net unwinding cost of the pension fund deficit is £48K giving an
overall net surplus of £41 K (defiat of £20K in the previous year).
Accounting for the Union's share of the Students, Union Superannuation Scheme
(SUSS) can be affected by external factors including an estimate of the real value of
future contributions to the deficit. The actuaries had already increased the recovery
period by two years to May 2037. This scheme is now closed to new employees and
the majority of current staff are in an auto-enrolled scheme in which contributions
have remained at 516 %. The Union's F)olicy is to match employee contributions up to
Average slafff ng numbers have remained static. Slaff cosls, reporled in note 12,
increased to £1 .258M (2022123 £1.173M).. represenling 4￿/0 of operating
expenditure12022123, 440/.). Expenditure on sludenl wages increased from £160K to
£179K supporting studenls to finance their university education whilst gaining
employability and life skills aloro the way.

UNIVERSITY OF CENTRAL LANCASHIRE STUDENTS, UNION
REPORT OFTHE TRUSTEES
YEAR ENDED 31 JULY 2024
The financia statements reflect the value attributed to the accommodation and
serVI￿S provided to the Union by the University in 2023124 of £664,301 (2022123 .
£587,172)., this is reported as a benefit in kind as both restricted charitable income
and charitable expenditure.
The Union's clubs and societies operate within agreed delegated authorilies though
the Union is responsible for reporting income collected and spent. In the year. clubs
and societies deposited £174K and expended £175K.- in addition, the Union
transferred fvjnds from archived inactive groups (£17K) and provided further grants,-
in totaI Clubs and societies benefited lo the tune of £33K. Ba]ances carried fO￿ard
at the end of the year totalled £92K (2023: £60K). In addition, funds of £19K were
held for specific Student Union Projects.
Notes 3 to 12 provide delailed analysis of income and expenditure during the year
with previous year's comparisons.
Membership services comprise all the dired services and support provided to
students including representation. advice services and engagernenl activities such as
volunteering, sociai and sports. Totat costs have increased from £1,985K to £2,004K
demonstrating levels of activity have been maintained Ihroughoul the year.
Primary Purpose Trading comprises our social enterprise activities. The SU Café has
continued lo be popular and it is hoped its custorner base will continue to grow. The
SU Bar, "Lampworks" re-opened at the slart of the year to prowde a safe space for
students to enjoy. By investing in soaa enlerprise. we help a lot of students fund
their education through part-lime work, meeting friends al work and ganing work
experien￿. We strive to be a gocKI eryployer. so Students recognise this as they
encounter different employers throughout their career.
Balance Sheet at 31 July 2024
The Bajance Sheet shows negative nel funds of £964.6K (2023: £1,006.OK). The
reduction in the negative net fund reflects Ihe overall sutplus of £41 ,375 (2023
deficit of £20,47n. The Trustees are aware of the issues surrounding the pension
liability and recognise it as a long-lerm issue rather than an immediate risk. The fact
thal the scheme is closed provides some degree of risk management with respect to
the liability, however. the Trustees make sure that both Trustees and Officers keep
UP lo date with all issues that inyact on the scheme.
Nole 20 shows the detailed breakdown of accurnulated funds held by the Sludenls,
Union. Some funds are restricted in their use as they are linked to specific income
received in previous years which can only be used for the purposes for which it is
given.

UNIVERSITY OF CENTRAL LANCASHIRE STUDENTS. UNION
REPORT OFTHE TRUSTEES
YEAR ENDED 31 JULY 2024
Restricted funds include balances on dub & society accounts which are held by the
Union. on behaif of the groups. for use on their specific activities. The constitution of
the groups a]lows the Union to archive groups which are inactive for 2 years and
close those which are inactive tor 3 years. such funds are transferred to either an
archive designated reserve or a Clublsociety bidding designated reserve. This
ensures funds are utilised to benefit students and current groups are supported.
The SUSS pension defiat of £1.22 million is a negative restricted fund, which the
Union recognises separately for clarity and its unique nature.
Unrestricted funds represent accutnulated reserves which can be applied al the
discretion of the Union, providing a measure of flexibiliiy and resilience should Ihe
Union encounter finanaal ch￿lengeS in any particular year. This year general
reserves have fallen from £136K to £115K primarily as a result of cash transfers to
the SUSS pension of £961(
The Union has for several years benefited from an HM Revenue and Customs
{HMRC) calering concession which atlows for Ihe treatment of catering sales on
campus to be exetnpt from VAT. Three Unions received official letters from HMRC
allowing this treatment and wt has therefore been adopted as ￿mmOn practice for
catering sates across tnost Students. Unions. HMRC have recently sad their letters
were incorrect and Bar Catering should nol be included. NUS, Bates Wells and
severai other Unions, including ours. have launched a legaj challenge. Whilst the
dispute continues, we have disclosed a contingenl liability of circa £2k, based on any
payments to HMRC being less than 50°/. likely to arise and trust the inconsistent
treatment across the industry wi15 ensure Ihis does not ()ystatise irrto a cost to the
Union.
Designated funds are created when the Trustees themselves choose to ring fen
funds for a parlicular projecl or PUTPOSe.
Each year the Truslees consider the accumulated funds to make sure that they are
satisfied that the Union is making best use of charitable funds. Note 24 shows that, at
the end of the year, the Union had an unrestricted nel currenl asset position of £107K
{2023.. £166K).
Cashflow
The activities in 2023124 generated cash of £112K (2023-. £78K) as deiailed in Note
27. The Cash Flow Stalemenl shows other factors which have an i mpacl on Ihe cash
reserves of the Union. During the year capitai expenditure totajled £30K and, as
reported above, £96K deficit repayments lo Ihe SUSS pension fund. In addition,
interest of £2K was received. The closiro cash baiance was £276K, a reduction of
211 K from the previous year.

UNIVERSITY OF CENTRAL LANCASHIRE STUDENTS, UNION
REPORT OF ThE TRUSTEES
YEAR ENDED 31 JULY 2024
RESERVES POLICY
The Trustees nKsnitor reserves and consider that free reserves should be equivalent
lo around 800/0 of unrestricted funds (including fixed assets and designated funds} to
ensure the Union has sufficient funds to meet any uneXpe￿ed liabilities and to allow
it to develop activities and operations in line wth the strategy for Ihe benefit of
students. This equates lo a targel level of free reserves as at the 31 st July 2024 of
£118K.
Total reserves as at the 31 st July 2024 stood at a deficit of £965K. Restricted funds
(due primarily to the pension fund liability) were at a deficit of £1 ,111 K- designated
funds were £32K and unrestricted funds ihat are fixed assets are £26K leaving free
reserves as a surplus o* £88K.
Designated reserves of £32K (2023: £56K) relate lo balan￿S held by Clubs and
Societies.
Strict procedures are in place to ensure reserves are not committed unless there are
available liquid funds. The Trustees also have the flexitility to release funds from
designated reserves at any time.
Social enterprise activities are monitored to ensure they are consistent wth the
Union's charitable objects.
FUNDRAISING REPORT
The Union does not make direct fundraising appeals to its members. Our societies: on
occasion. can carry out fundraising aclivilies for their society funds and for extemal charities.
We provide guidance to stLJdents based on the un￿)n'S Byelaw 6 16321634) and our
Fundraising Policy. No complaints were r￿]Ved conceming these fundraising activities.
CUSTODIAN ACTIVITIES
The Union act as custodian fOrfU￿lS raised by the Union's many dubs and societies from their
own activities and for their own use.
12-

UNIVERsrrY OF CENTRAL LANCASHIRE STUDENTS, UNION
REPORT OF THETRUSTEES
YEAR ENDED 31 JULY 2024
TRUSTEES, RESPONSIBILITIES
Charity law and UCLan Students. Union's Artides of Ji8Sociats￿ r8Juire us as Trustees to
prepare Annual Financial Statements giviThJ a true arKI fair view of the state of the affairs of
Ihe Union at its year-end and of the Union's incy)me and expendtture for the year. In
preparing these statemenls we are required to: _
select the most suitable accountiro policies and apply them consistently.
make judgements and eslimates that are reasonable and prudent.
prepare the Financial Statements on a going con￿rn basis untess rt is not
appropriate lo presume ihat the Un￿n wll continu8 in business.
We are responsible for keeping proper aC(￿untIng records which disclose with reasonable
accuracy at any time the tinancial wsition of the charity arKI enable us to ensure that the
Financial Statements comply wtih charity law and the requirements of Ihe Union's Board of
Trustees and the University under the 1994 Education Act. We are also respjnsible for
safeguarding the assets of the charily and ensuring their proper applicalion in aGo)rdance
with charity law, and hence for talong reasonable steps for the prevention and deteGtion of
fraud and other irregutaiities.
SN(IALL CO￿1p
.1 I rs lilfjTE
In preparing this report, the Directors (Trustees) have laken advantage of the small
companies, regime exerrpb'ons provided by section 415A of the Compantes Act 2006.
This report was approved by the Board on 17 April 2025 and sKJned on its behalr.
Luke Fitzgerakl
Stefanie Hartley
President and Chair of Ihe Board of Truslees Chief Execulive Officer
13-

UNIVERSITY OF CENTRAL LANCASHIRE STUDENTS, UNION
INDEpENDE￿r AUDITOR'S REPORT TO THE MEMBERS
YEAR ENDED 31 JULY 2024
Opinion
We have audited the financial statements of Universty of Central Lan￿shIre Students, Union
(the 'charity') for the year ended 31 Juty 2024 wh￿h cotrprise the Statement of Financial
Activities, Balance Sheet: Statement of Cash Rows and notes to the f￿ancIal slatements,
including significant acrounting policies. The financial rery)rtiThJ frameworf( that has been
applied in their pr8paration is applicable law United Kin￿OM A￿UntIng Standards,
including Financial Reporting Standard 102 The Financial Reporting Standard applicable in
the UK and Republic of IrelarKJ {Untted Kingdorn Generally Accepted Accounting Practice}.
In our opinion the financial statements..
give a twe and fair view ol the slate of the charitable company's affairs as at 31 July
2024 and of its incoming resour￿5 and application of resources, including ils income
and expenditure for the year then ermjed"
have I￿en properfy prepared in accordance with Unt1￿ KirKJlom Generally Accepted
Accounling Practice; and
have been prepared in a¢cL)rdance with the requirements of the Companies Acl 2￿6.
Basls tOT opinion
We conducted our audit in accordan￿ with Intemational Standards on Auditing (UK) (ISAS
{UKII and applicable law. Our reS￿nsibl[[bes under those standards are further described in
the Auditor's resportsibilities for Ihe audit of Ihe financial slalements section of our report. We
are independenl of the charitable company in acix)rdance with the ethical requirements that
are relevant to our audwt ol the financial slatements in the UK, indudiThJ the FRC'S Ethical
Standard, and we have fu]filled our other ethical reswnsibilities in accordance with these
requirements. We believe that the audtt eviden￿ we have obtained is sufficienl and
appropriate to provide a basis for our opinion.
Concluslons relating to going concern
In auditing the financial statements, we have concluded that ihe trustees. use of the going
Coll￿rn basis of accounting in Ihe preparation of the f￿anCIal statements is appropriate.
Based on the work we have perforrned. we have nol Klentrfied any material uncertainties
relating to events or condttions that, itKlividualty or colledively, may cast significant doubt on
the charitable company's abilty to cnntnue as a going concem 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 concem are
described in the relevant sections of this report.
Other Snformatlon
The trustees are responsible for the other infom)alion contained within the annual report. The
other infomialion comprises the infomialion included in the annual report. other than the
financial statements and our audttols report thereon.

UNIVERSITY OF CENTRAL LANCASHIRE STUDENTS, UNION
INDEPENDE1+￿ AUDITOR'S REPORTTO THE MEMBERS
YEAR ENDED 31 JULY 2024
Our opinion on the financial statements d￿S not cover the olher information and, except to
the extent othemise explicitly stated in our rewrt. we (*i nol express any fomi of assuran
conclusion thereon.
In connection with our audit, our responsibilty is to read the other infomiatton a￿￿. in doing
so, consider whether the other informalion is materially inconsistent with the financial
statements or our knowledge obtained in the audit or othemise ap￿arS to be materially
misstated. If we identify such material incx)nSiste￿[es or apparent malerial misstatements,
we are required to detemine whether this gives rise to a material mwtatement in the
financial statements themselves. If. based on the woth we have perfomed, we conclude that
there is a material misstatement of this other inf0M￿tiOn. we are required to report that facL
We have nothing to report in this regard.
Oplnlons on other matlers prexrlbed by the Companles Act 2006
In our opinion based on the work undertaken in the course ol our audit
the information given in the twstees, report vthith indudes the direclors, reFOrt
prepared for the pU￿oseS of company law. for the financial year for which the
financial statements are prepared is consistent wtth the financial statefflents" and
the directors. report inGluded wtEhin the truslees, reF(*rt have been prepared in
accordance with applicable legal requirements.
Aatters on which THe are required lo report by exceptlon
In light of the knowledge and understanding of charitable company and its enVi￿)nMent
obtained in the course of the audit. we have not Kjentrfi￿I material misstatements in the
directors, rep)rt included within the twstees. report.
We have nothing to reFJ)rt in respect of the following matters in relation to which the
Companies Act 2006 requires us to report to you rf, in our oiinion".
adequate accounting reco￿lS have not teen kept. or
the tinancial statell￿nts are not in agreement with the a￿ount￿1g recoKls and
retums: or
certain disclosures of irustees. rernUnerat￿n S￿Cffled by law are ￿t rnade" or
we have not re￿iVed all the infomialion and explanatK)ns we require for our audit" or
the trustees were nol entitled to prepare the financtal statements in accoftlance with
the small companies. regime and take advantage of the small companies, exemption
in preparing the trustees, report.
Responsibilities of trustees
As explained more fully in the Trustees, responsbli ities statement, the trustees (who are also
the direclors of the charitable company for the pury)oses of company law) are responsible for
the preparation of the finanoal statements and lor being satisfied that they give a true and
fair view, and for such internal control as the trustees determine is necEssary to enable the

UNIVERSITY OF CENTRAL LANCASHIRE STUDENTS, UNION
INDEPENDENT AUDrroR'S REPORT TOTHE MEMBERS
YEAR ENDED 31 JULY 2024
preparation of financial statements that are free from material misstalemerrt. whether due to
fraud or error.
In preparing the financial statefflents, the trustees are responsibk for assessing the
charttable company's ability to continue as a going concem, disdosing. as appI￿able,
matters related to going cOn￿M and using the going (x)ncern basis of acwunting unless the
tNStees either intend to Iyuidate the charTlable oJnpany or to ￿ase operations, or have no
realistic aKemative Ixjl lo do so.
Auditorfs responsibilities tor the audit of the financial statements
Our objectives are to obtain reasonable assuran￿ aboLrt vtheth?r the financial statements as
a whole are free from material misstatemenl. whether due to fraud or error, and to issue an
auditor's report Ihat indudes our opinion. Rea￿nable assurance is a high level of assuran
but is not a guarantee thal an audr( conducted in accordance with ISAS (UK) will always
detect a material misstatement when it exists. Misstatements can arise from fraud or error
and are consider8J material rf. indivKlually or in the aggregate, they coukl reasonably be
expected to influence the eojnomic decisions of users taken on the basis of these financial
statements.
Irregulartties, including fraud, are instances of r￿n-COmplian￿ with laws and regulations. We
design prO￿dureS in line with our reS￿nsIbIlities, outlined above, lo detect material
misstatements in reS￿t of irregularities, includirKJ Iraud. The extent to which our procedures
are capable of detecting irregularities, including fraud is detailed below.
We assessed the susceptibility of the company's financial statements to material
rnisstalement, including how fraud might OCc￿r. Audtt pro(EdLJres perfonned by the CA)mpany
engagement team included:
Identifying and assessing the destgn effectiveness of controls management has in
place to prevent and delect fraud;
Understanding how those Charged wilh governan￿ considered and addressed the
potenlial for override of controls or other inappropriate Influen￿ over the financial
reporting pro￿sS.
Reviewing financial stalements disclosures and testing to SUPF)Orting documentation to
assess Complian￿ with appliGqble law and regulations.
Challenging assumptions and I￿gements made by management in its sKJniFicant
accounling estimates, in parti¢>Jlar.
Depreciation - we ¢arried out a review and recalculatton of depreciation to assess its
appropriateness for inclusion within the finanoal StaleTr￿nts-
Identifying and testing joumal entries. in particularfy any joumal entries posted with
unusual account combinations.
Despite the audit being planned and conducted in aCcOrda￿e WTth ISAS (UK} there remains
an unavoidable risk that rnaterial mi&statements in the financial slalernents may not be
detected owing to inherent limitations of the audiL and that by their very nalure, any such
instances of fraud or I￿egUlar[ty likely involve collusion. forgery, iitenttonal
misrepresenlations. or the ovenide of intemal (x)ntrols.

UNIVERsrrY OF CENTRAL LANCASHIRE STUDENTS. UNION
INDEPENDENT AUDrroR'S REPORT TO THE MEMBERS
YEAR ENDED 31 JULY 2024
A further description of our reswnsli )ilities for the audtt of the financial statements is k)cated
on the Financial Reporting Council's website at: www.frc.o
.ukJauditorsres
onsibilities. This
description forrns part of our auditorfs report.
Use of our report
This reFX)rt is made solely to Ihe charitable ￿mpanY'S mernLers, as a bcxjy, in accordan
th Chapter 3 of Part 16 of Ihe Cornpanies Act 2006. Our audit woth has been undertaken
so that we mvJht state to the charitable company's members those matters we are required
to state to them in an a￿ltO¢S rerK)rt and for no other puryTh)se. To the fullest extent
permitted by law, we do not accept or assume responsibility lo anyone other than the
charitable company and the tharitable company s members as a body. for our audit work. for
this report, or for the opinions we have formed.
Timothy Cherry FCCA
Senior Statutory Auditor
On beham of Haines Watts
3rd Floor Pacrfic Chambers
11-13 Victoria Street
Liverpool
Merseyside
L2 5QQ
17 rtf,;l LOLS.
-17-

UNIVERSITY OF CE￿rRAL LANCASHIRE STUDE￿rs, UNION
STATEMENT OF FINANCIAL ACTlVtriES
(INCORPORATING AN INCOME AND EXPENDrruRE Accoumr)
YEAR ENDED 31 JULY 2024
2024
Restricted UnrestTiCted
2023
Tolal
Total
Noto
INCOME FROM:
Voluntary income
Charilable actNities
1,38Qlthl
1￿80,000
1N13,672
1,359,636
1,359,726
Other ITading actwrfcies
Investments
15,9
1213
1213
1,700
Income from Operallons
845,072
1,966,803
1811,875
2,724,128
EXPENDITURE ON:
Charitable activities..
Membership
services
Primary purpose
trading
Expenditure from
Operations
Pension Discount Uminding 111
Cost
21
Excepliond Expenditure
11
7-9
T11,327
1,23l741
2,004.068
1,984,811
7-9
650,109
n4n2
662,963
839,950 1W1850
2,721800
2,647,T14
47.7LW)
47.71K)
73.621
23.210
Total Expendilure
2,770,500
I744,605
Nel Operating Surplus for
the year
Net Result lor the year
Surplus/{Deficatl
5,122
83,953
89,075
76,354
(4578)
41.375
(20,477)
Total funds brought
lonvard
Reserves Transfer
(1,19822n
191224
{1.006,003}
{9845261
I29.￿1
(129,330)
Total funds carrted foThMrd
{1,111A75)
146.847
{964.628)
I1,0￿,003)
The ¢harty has no r￿(￿Jn19ed gai￿ or losses other than the re￿lIS as set out aLM)ve.
A]1 of the a¢twilies ol the charity are dassed as continuing.
The notes on pages 21 to 40 fonn part of these financlal statements

UNIVERSITY OF CENTRAL LANCASHIRE STUDENTS, UNION
BALANCE SHEET
Company No: 076￿917
31 JULY 2024
3110712024
3110712023
Note
FIXED ASs￿s
Tangible fixed assets
Investments
13
14
39,370
26,422
39,371
26,423
CURRENT ASSETS
Stock
Debtors
Cash ai bank in hand
15
16
31293
82.167
275.965
81,780
391,97T
CREDrroRS:
Amounts due wlhin one year
17
{271.463)
{249,567)
CURREiif ASSETS
Total assets less current liaLN'lities
142 410
168,833
157,333
CREDrroRS:
Arnounls due after more than one year
NEf ASSETS
18
24
1,121,961
1174 836
FUNDS
Restricted funds
Pengon Deficit ReseNe
Students, Societies & Club Funds
- Total Restrided FurKLs
{1,222,5331
111,058
1.111.475
{1,270,614)
Unrestricled funds
General Funds
Designated FurKIs
Total Unrestricted Funds
114,738
32.1L
146.847
135,922
TOTAL FUNDS
964.628
The financial staterTEnts have been prepared in accordance with Ihe provisions applicable to
companies subject to the small companies, regirne.
These financial statements were approved and styJned by the Board of Truslees on 17 April
2025.
Luke Fitzgerakl
President and Chair of the Board of Trustees
17 April 2025
Stefanie Hartley
Chief Executive Officer
17 April 2025
The notes on pages 21 to 401orni part of these flnanckil slatem8rts.
-19-

UNIVERsrrY OF CENTRAL LANCASHIRE STUDENTS, UNION
CASH FLOW sfATEMETr
31 JULY 2024
2024
2023
Net cash (ouiflow}finflow from cperating
activtiies
27
111321
77.717
Investin
aclivities
Payments to aquire tangible fixed assets
{30,328) (26,308)
Net cash Ilow from investing activitss
(30,328)
(26,3Q8)
Flnancln
actlvltles
Repaymerrt of Pension Deficit
Interest re￿iVed
Net cash Ilow fronv (used in) financlng
activlties
195,780) (91,218)
13
193,567) (89.518)
Increase/lDecrease) in cash and 12sh
equivalents
(11.574) (38,109)
Cash and cash equivalents at start of year
Cash and cash equivalents at erKI of year
325 649
965
Th8 Trctss on paoes 21 to 40 forni part ol these tirAncial Slat￿rtS

UNIVERSITY OF CENTRAL LANCASHIRE STUDENTS, UNION
NOTES TO THE FINANCIAL STATEMEr￿s
YEAR ENDED 31 JULY 2024
1. GENERAL INFORMATION
University of Centrai Lancashire Sludents. Union is a registered charity in England and Wales,
ith the charitable otiect ol a(fvanarMJ the e(hJcation of students at the University ol Central
Lancashire.
Tho charity is a private Company limited by guarantee {Co No 07623917), wmh the registered
office and prinLipd address at Fylde Road. Preston. PRI 6BY.
ACCOUfrmNG POUCIES
la)
in
nvenlion
The financid slatements are Fryared in accordarre ￿th the Companies Act 2006, Charities Act
2011, Slatement of ReCommeThj￿ Practice'A(xthntiNJ and Reporting by Chartties, 2019
ISORP'I, and Ihe Financial Reporting sta￿rd 102.
The Trustees wnsider the charity to be a rxjblic I￿nef[t entity. Thefinancial stalemerts are
epared in stediThJ, ￿[Ch ts ihe functional cUrrer￿Y of the c(￿panY. Monetary amounts in these
linanad st*ements are rourKled to the nearea £
All incoming resources are recognised in the St*ement of Finanaal Actmilies (SOFA) when the
Charily is legally entiled to the ir￿e the amount can quantified with reasonable
rtainty. Incoming resour￿5 are not net ol extendtture.
rnn
Revenue grants ot￿1 than the block grant are credited lo the SOFA in the year in which they are
received. The block grant is crethied lo the SOFA in year in which il is receivaLle. In the SOFA
grants are shown as income ar*J the retal￿ expenditure disclosed as awroprialo.
Idl Resources ex
l expenditure is a￿oUnted for on an axnjals basis aThJ is st*ed net of VAT where this Can be
reclaimed.
Charitable expendilure c(xnprises IFKJse costs In￿rred by the Chartty in ￿ ddivery ol its
livmes and services for its benefiaarie& It indudes both costs which Can be threctly allocated to
liv￿eS and those costs of an indire(a natu￿ ne(*ssary to suN)ort th6Yn.
Costs are allccated between the expetTrfftire categories of the SOFA based ¢)n of the
resource.

UNIVERSITY OF CENTRAL LANCASHIRE STUDENTS, UNION
NOTES TO THE FINANCIAL STATEMEKrs
YEAR ENDED 31 JULY 2024
2. AccouNfiNG POUCIES {coKnNUED)
{d} Resources ox
ended
inued
Where costs canrK)t be directly allocated they are appjtioned on an appropriate basis and
recognised in SOFA. Govemance costs are tFM)se I￿rred in connection wlh compliance with
constitutional and statutory requiremen1&
ible fixed ass
Depreciation is calculated so as to write off the cost of an asset. less its estimated re￿d￿al value,
over the useful e(x)rtomic lrfe of Ihat asset as fcAIows:
Alterations to premises
Fixtures and equipmerrt
25% p.a. straghi line
25%- 33Yo P.& Str￿ght line
Assets a￿ capitalised if they cost more than £5,000 a￿1 are exsHIGtl to la* more than one year.
(f) Investments
Fixed asset investrnenls are vaued at ¢osL
{g> AoLk
Stfftk is valued at the lower of the cosl aThJ ils net realiS￿e vdue.
(h) Debtors
Short term debtors are measured at transaction price, less any inpaimeffl. Loans receivable are
measured inttially at fairvaiue, net of transaction costs. and are measured subsequently al
amortised cost u&ng the effective interest methc*J, any inwairment.
(l) Cash and cash
uivalerrts
Cash is represented by cash in haThl and detK>sils wtth finanual instttutions repayabte without
penalty on notice of not more than 24 hours. Cash equiv￿ents a￿ highly liquid investments that
mature in no more than three molrths fr(wn the dale of ac(•Jisition and that are readily convertible
to amounts of cash wih insigntficarn of change in Y￿ue.
l Financial Instruments
The charty only enters into basic fina￿￿ instNments transactions thal result in the reccgnition
of financial assets and liaix'lilies like trade olhor a￿￿nts recetvdle and payable, loans from
banks and other third parties. l¢)ans to related parties and investments in non-puttable ordinary
shares.

UNIVERSITY OF CENTRAL LANCASHIRE STUDENTS, UNION
NOTES TO THE FINANCIAL STATEMEKrs
YEAR ENDED 31 JULY2024
I ACCOUNTING POLICIES {conllnued}
(k) Credito
Short tem creditors are measured at the transaclion F)r￿e. Other financid liabilities, including
bank loan& are measured initially at fair vaue. net of transaction costs. arKI are measvred
subsequently at amortised cost using the effeclwe interest method.
eratin lease a
Renlals appliGatAe to operaling leases b¥there substanlially the benefits aThJ risks of ownership
remain with the leswr are charged agansl profits on a strarght-line basis over the period of the
lease.
(m)
The Students, Union has three dstinct types of a¢cuM￿ated furth in its balance sheet: _
Restricted funds rewesenling un¥ent funds at the e￿1 of the financial yearlo be S￿￿t on particular
acttvities as specified ty the thr¥)r.
Unrestricted general funds arisiTrJ from the accumulatgj surF4us frc¥n its various activtiies hdd to
provide a measure of finar￿JaI flexibility in the fulure.
D￿gnated Fur￿5 are general furKts sel aside by the Prf)ard ot Tru5te85 for a specific purpose.
The income and expendtture are shown in the Statemeth d Financi￿ A(Awibe&
The assets and liabilities representirvJ each fu￿1 are shown in the notes to ihe accounts.
(n) Pènsion costs
The Chartty partiopates in the Students. Union Superannuation Scheme, a mulii-employer
defined benefft pension scheme. Where r( is rH)l FXJSSitAe for Ihe Charity to obtain suffiThent
inf￿allOn to enable it to arx(xJnl for the scheme as a defined benefit ￿heMe. il accounts for the
scheme as a defined contribulion scheme.
Where the s(*eme is in defiat and vthere the Charity has agreed, with the scheme. to partiapate
in a deliryt funding arrangement Ihe Chartty rec(xJnises a liabifity lor this obligation. The amount
recognised is the nel txesent vaue of conlribulions payable under ihe agreancnt that relate
to the delictl. This amount is expensed in the Statement of Financial Activflies and is held on the
Balan(% Sheet as a restricted reserve.
The Union also partiapates in a thfined corrtribjtion pension ￿heme administered by Aegon. A
defined contrityjlion ￿an is a pension plan utvjer which the Charity pays fixed contributions into a
separate enlily. Once the contriLxJlions have teen paid the Charity has no further payments
obligalions.
The ccrtributions are recognised as an expense in the Slatanent of Financid A￿1VitieS when
they fall due. Amounts not paid are sFKJvm in a¢cruals as a liatylity in the Balan￿ sheet. The
assets ol the plan are held separately from the Clwity in indeperthnily administered funds.

UNIVERsrrY OF CENTRAL LANCASHIRE STUDENTS, UNION
NOTES TO THE FINANCIAL sTATEME￿rs
YEAR ENDED 31 JULY 2024
2 AccouNfiNG POLICIES (COIfflNUED)
(o) Taxatton
No provision is made in these accounts for cx)rtMYation tax as the Union is exempt Ircth such
taxes as a result of its charitabEe status.
con
The Trustees are aware that Union is t￿hn￿￿[Y iwfvenl due to the net liability pyjsilion.
However, this is ¢ause(I by the tEnsion creditor vhich is largely payal￿e over the next 13 years.
The Union is in a nel current asset ￿￿1￿0￿ and the Un￿n continues to seek to generate funding
from various tr￿rEg artniibes but it will continue to be thpendent on the stJPFX)rt of the UnThrersity
of Central Lancashire for which Ihe Trustees express their thanks on beh￿1 of the members ol
the Union. There is no reason for the Union to bdieve this financial or non-rnonetary suN)ort from
the Unwersity will not continue for the foreseeable future. In 2011 the Ullion and Untversity
agreed a Memcwandum of understa￿lIr￿J between It￿ organisalions to SUPFQrt the continuing
payment of the blod( grant and the non-monetary 5UPWrt.
(q) Jud
ements in a
in
accountin
Ilcies and
sources of estimation uncertain
The charity makes estimates and assumptions co[￿mIng the future. The resulting accounting
estimates will, by definition. sekkmm equ￿ the related actual results. The estimates and
assumptions that have a signrfi&qrrt ot causing a material adjustment lo the carwng amounts
of assets and liakilities y￿thin the next fEnar￿la1 year are aoklressed below.
{il Useful economic INes ol taroitle assets
The annual depreciation charge lor taThJi￿e 2&8ets is sen5itTve to changes in the estimated useful
economic lives and rcsidual values of the a&%ets. The useful e(x)nomic lives and residual values
are re-assessed anNally. They are amended when necessary lo refFect current estimates, based
on technologicd acfvancement. fulure investmerrts, economic utilisation, aThJ the physic
condition of the assets. See note 13 for the cartwr>g amount ol alleratiorL8 to premises and
fixtures & equipment arKI nole 2 (e) for useful ￿0￿mIC lives for each class of assets.
lill Multi-employer defined benefit pewon ￿herne
The Chartty participated in Ihe Studerrts, Union SuFerannuation Scheme,. a mutti-employer
defined benefil pen￿on scheme with other Students. Union organisations. In the judgement ol
the trustees, the Charty does not have sufficient information on the plan's assets and liabilitles to
be able lo reliat￿Y accounl for its share ol the defined knelil c&ligations aThJ plan assets.
Therefore. the scheme is accounted lor as a thfrned c￿tribution scheme, see nole 21 for further
detail&
The Charity musl measure its delined ben￿t otligation on a (r￿￿nt￿l present value basis.
The Charity must detemine the rate used to discount Ihe future payments by reference to market
yields at the retx>rting dale on high qU￿ty corFrt)rate ix)nds. The temi of Ihe corporate bonds
shall be COr￿lstent wth the estimated peric¥J of the future payTllenls.
(iii) Treatment of Clubs ar¥J Societies
Tre Chartty has Signifi￿nI ¢onird over the finances and athibes of clubs and societies and
therefore considers them lo be part of the Chajity. As such, it accounts for them as rf the Union is
the principal in transactions with income aThY eXp￿K11t￿re tEing presetrted in the Siatemerrt ol
Final￿1￿ Aclivities.

UNIVERSITY OF CENTRAL LANCASHIRE STUDENTS, UNION
NOTES TO THE FINANCIAL STATEMEKrs
YEAR ENDED 31 JULY 2024
VOLuKfARY INCOIAE
Flestricted Lknrestricted
Total
21)24
Grant Funding
1.380.IMI 1380.000
13600CQ 13800
Restricted Unreslrlded
Total
2023
Grant Funding
1359.636 1.359.636
1359 636 1359 636
INCOME FFK)M CHARITABLE AcfivrnES
Restricted Unrestricted
Total
2024
Voice
fe
Membership Se￿iCes
294614
551
804.165
9)4.933
Prlmary Purpose Trading Aclivilies
073
531,501
604,574
Total
845,072 56&6(h) 1,413,672
Charilable activilies
Direct Ino)me fr(xn charitable activities
Benefit in knrKI-
AccomrrE(Klation & Servre
Clubs and s￿ieties- Income
568,600 W,61)0
664,301
568 6￿ 1413 $72

UNIVERSITY OF CENTRAL LANCASHIRE STUDENTS, UNION
NOTES TO THE FINANCIAL STATEMEKrs
YEAR ENDED 31 JULY 2024
Reshlcted Unreslrictod
Total
2023
Voice
Cornmunity
Membership Services
261.291
433,429
5,(Y20
266.311
16
757236
Primary Purpose Trading Activities
S37,￿1
6112,49)
Total
Charitsble activities
Direct Income from chartlable activities
Benefit in kiThJ -
AccL¥nmodalion & Se￿￿e
Clubs and Societies- Ir￿OMe
6￿,417
6(Ki,417
587,171
587,171
172.138
6(￿j 417 13S9 726
INCOME FROM OTHER TRADING ACTi￿nEs
Reslrlcted UnrnstTiCted
Total
2024
MarkelirvJ
Digital Income
Commission
6,975
975
&704
311
311
1&9
Restricted Unrgstricled
Total
2023
Marketing
Digitd inc(wne
COMMI￿lOn
555
555

UNIVERSITY OF CENTRAL LANCASHIRE STUDENTS, UNION
NOTES TO THE FINANCIAL STATEMEKrs
YEAR ENDED 31 JULY 2024
INCOME FROM INVEsfMEMrs
Restricted Unrestricted
Totsl
2024
Ba￿ Interesl
2213
1213
2.213
Tolal
2023
Bank Irrterest
1.7￿j
1.7(Kl
ExPE￿)￿URE ON CHAR￿ABLE ACTivmES
Restricted arKI Lknreslrided Expwylilure by Theme
Restricted iknrestricted
Tolal
2024
Membership Sw¥i¢es
Voice
Life
Projects
719,164 1,017,IX13
513.577
986,475
59)
471898
741
650.109
Primary Purpose Trading Activities
68.623
839.950
718,732
Direct Costs Plus Benefit in KirKI
Direct expeThJiture
Clubs and Sctieties - ExpeThJiture
Benefil in Kind- A￿%M & Services
Projects
1,￿850 1,882,850
17&059
664301
175,059
664,301
850

UNIVERSITY OF CENTRAL LANCASHIRE STUDENTS, UNION
NOTES TO THE FINANCIAL STATEMEKrs
YEAR ENDED 31 JULY 2024
Restrlcted and Unrestricled Expenditure byTheme
Rostricted Lknrestrlcted
Total
2023
Mèmbership Services
Voice
Community
Projects
261,291
436,789
739,014 1,000,305
544,781
981,570
153
1283,948 1984 810
598,374
662.963
1 882 322 2 647 713
700,862
Primary PurposeTrading Aclivllles
765.451
Direct Costs Plus Benefit in KINI
Direct expenditure
Clubs and Societies - Expenditure
Benefit in Kind- Ac£om & Services
Projects in membership seNi
1,882W3 1,882,323
175,497
587.172
2.782
1 882.323 2 647 774
175,497
587,172
765,451
CHARITABLE ACTIVMES
Direct & Support ExpendltUTe by Tr*rr
Activities
undertaken
directly
Support
costs
Total
2024
Membershlp Servlces
Voice
Life
Projects
851,449
20,921
59)
165.554 1.017.iJ)3
165,554
986,475
960
677.809
1350,769
331 108 1004.068
40,923
718,n2
372,031 2.722.￿0
Primary Pubpose Tradlng Activities
Total
Activi*ies
undertaken
directly
Support
costs
Total
2023
MernbershSp Services
Voice
Community
Projects
861,743
54WJ,428
138,562 1,0(￿,305
843,008
138,562
2935
1.707 686
6¥712
34,251
311,375 2,647,773
1501.
447,242
1336,398
Primary Purpose Trading Activities
Total

UNIVERSITY OF CENTRAL LANCASHIRE STUDENTS. UNION
NOTES TO THE FINANCIAL sTATEME￿rs
YEAR ENDED 31 JULY 2024
Charitable activities
Charitable expenditure by cost type
Prim
Purpose
Cenlral
Support
Costs
Membership
Total
2024
tivilies
Cost ol SalelAthity Costs
51,242
742,325
245,680
1,954
298,876
Wages & Salaries
Training and Subsister￿e
Other emtAoytnent Costs
NUS Affiliation Fee
Club & kniety Supporl
Administralion
Insuran
Repairs and Maintenance
Essenlial Materia]s
Equipment arKI software
Adverti9r￿ & Promotions
Financial Costs
Professional Fees
Benefit in Kind - AccommcKlation
& Services
Depr￿latIon - Refutlishment
Dept￿lation - Equitment
Restricted Project C051s
Restrict6yJ Club and Sooety Cost5
1,258,101
16,710
17,854
35,947
1,841
2.528
27.160
13.535
51,616
48,157
20,588
41,754
803
664,301
7,138
10,950
(474)
1.720
1.099
(2911
24.196
2￿25
5,100
11,738
17,109
(3,237)
1,065
10,582
27,420
1692 25.446
19,929
1Q910
18,583
19,310
22,7
3.752
9,694
7.686
590
175,059
1903
175.059
1,672,960
331.108
671,809 372,031 2,722,800
40.923 (371031)
Cerrtral Support Cost Allocation
I1￿,068
714n2
2,722,800
Total

UNIVERSITY OF CENTRAL LANCASHIRE STUDENTS, UNION
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 JULY 2024
Charitable activities (¢onlinued}
Charitable expendilure by ￿$1 type
PrÉmary
Purpose
Central
Trading Support
Services A¢livities Costs
Total
2023
Cost of s￿@ACt￿lty Costs
49,787
74Q698
239,296
247,336
203 289,286
177,116
Wages & Salaries
Traning and SubsisterKe
Other emE￿oyment costs
NUS Affiliation Fee
Club & Society SupFQrt
Administrdlion
Insuran
Repairs and Maintenance
Essenlial Materials
Eryiwnent arKI software
Molor CA)sts
Advertising & Promolio
Financial Costs
Profession￿ Fees
Benefit in lfjnd - Accommodation
& SeNices
Depreciation - Refurtishment
Depreciation - Equipment
Restricted Project Costs
Reslricted Club at¥J Sooety Costs
1.173.150
24.172
25.732
32,196
,262
34,472
24,239
10,534
27,646
34,947
10,195
3.605
31196
83,601
2,354
11,623
22,065
124
372
1537
25,737
18,295
2,609
7093
5.171
15￿26
13,013
6,408
11,291
3,135
34.718
510,840
19.369
21,867
53,990
587.172
17,040
974
54717
1.692
18,298
17,615
5,597
8,980
11,327
1782
175,651
763
3,178
175.651
1,707,687
277,123
628,712
311R74 1647,773
34251 (311.3741
Central Supry)rt Cost Allocalion
1.984,810
2,647,773
Total

UNIVERSITY OF CENTRAL LANCASHIRE STUDENTS, UNION
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 JULY 2024
10. GOVERNANCE COSTS
Total
2024
Total
Audit
5%) 8AOO
1.445 1,445
IrEura
Travel Expenses
Board away days
Board eXF￿nSeS
Gifts
Tralning
statutory filing fee
Civil Subscription
1,563
31
400
41
4,193 10.470
13
3,608
15083 24 588
11. EXCEFfioNAL AND SIGNIFicAKf ￿EMs
Restricted Unrnstricted
Tol81
2024
SUSS Pension UnWnding/ReV￿UaI10n
47,7
47,700
47.7(rf)
Rostricied Unrestricted
Total
2023
Long Term Sickness
Redundancies
16.WJO
3,910
500
16,800
1910
500
73,621
CNd Invol￿s- Trading Swices
SUSS Pension UnwndintyFlevalualic
73,621
23,*0

UNIVERSITY OF CENTRAL LANCASHIRE STUDENTS, UNION
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 JULY 2024
12. STAFF cosrs AND NUMBERS
Totsl
Total
21)23
Wages aThJ salaries
National insurance
Pension costs
1,LWI,222
83,278
1,007,617
78,314
87,218
1 173 149
Key managemenl personnel, as di￿lOSed on page 1, received remuneration of £158,976
12023: £127.099).
For the year ended 31 July 2024 a￿1 31 July 2023 rK) emFJoyee iecEived remuneration in
eX￿sS of £60,OIJ).
The aV￿age numÈer of staff emFloyed by the was:
2024
No.
2023
Full time staff
Student Staff
74
13. FIXED ASs￿s
Alterations
to
Fixiures &
premlses equipmenl
Total
Cost
As al l August 2023
Additions
Disposals
As at31 July2024
1,078,190
18.639
558,982 1,637,172
11,689
,328
1.096.V29
570,671 1,667,500
Accumulated depreciation
As at 1 Augusl 2023
Charge for the year
On Disposals
As al 31 July 2024
1,IAO,264
550,486 1,610,750
7,686
17,380
1.069.958
558.172 1,628.130
Net iM)ok value
31 July 2024
31 July 2023
26,871
496

UNIVERSITY OF CENTRAL LANCASHIRE STUDENTS, UNION
NOTES TO THE FINANCIAL STATEMEKrs
YEAR ENDED 31 JULY 2024
14K FIXED Ass￿ INVESThIE
Investmenl In
subsidiaries
Total
As at 1 August 2023 and 31 July 2024
2024
quity held
2023
quity held
N&ne of company
Investments in subsidiaries
53 Degrees Events Limiled
l(xi%
Aggregate of
share capital
Tumover and reserves
Profit for
the year
53 Degrees Events LimitgJ . domiant
15. STOCK
2024
2023
Bar
Shop stock
Atrium stock
Clothing stock
14,505
9,067
651
4,127
813
16. DEBTORS
2024
2023
Prepayments arKI accrued inccffle
Unwersity debtor
Other debtors
40,11Y3
10,997
47.229
10,367
81167

UNIVERSITY OF CENTRAL LANCASHIRE STUDENTS, UNION
NOTES TO THE FINANCIAL STATEMETrttS
YEAR ENDED 31 JULY 2024
17. CREDrroRS: Amounts lalling due withln one y￿r
2023
Trade crajttors
University credttor
Socia security and other laxes
Other ¢7editors
A￿r￿alS and deferred inccvne
Pension liablt ty
25,703
42.260
25.312
48,131
61,725
2,908
20.4B8
49,796
1&873
271.463
249,567
18. CREDITORS: Amounls fallkng due after more than one y￿r
2023
Pension liability
1.121961
1 121961
836
1174,836
RepayM￿tt due as fdlows:
Due 1-2 Years
Due 2-5 Years
Due SF Years
105,6
195,$56
449,307
666.813
1.121,961
1.174.836
Please refer to note 21 for further details ¢)n the pension liatility ￿ch as repayrnent leHns and
discount rate.
19. FtNANCIAL INSTRUMEpirs
Fina￿la1 liailities meawred at amortised cost:
2024
2023
FinaThial liabiltties me￿r￿A at present vdue:
Pension deliat
1 270 614
1a2.533

UNIVERsrrY OF CENTRAL LANCASHIRE STUDENTS, UNION
NOTESTOTHE FINANCIAL STATEMEKTS
YEAR ENDED 31 JULY2024
20. RESERVES
At1
August
Incomlng Resources
resources expended
At 31 July
2024
Transfors
Restricted FuTrJs
Pension Defic41 Fund
Benefit in kiThJ-
Accommodation aTrJ Service
Clubs and &)cielies
(1,270.614)
(47.7￿)
(664.301)
95.781 {1,222,533)
664,301
59.973
173W {17&059)
33,549
92,003
StLKlent Union Projects
11414
Total Restrl¢ted Funds
072
1111475
Unrestricted Funds
Accumulated GeneraI Fund
135 922 1966 803
Total General Funds
135 922 1966 803
1881132
106
11
738
Deslgnated funds
Film and arts designated
fund
Sport Bdl lunds
Clubs and S￿ietieS bi(kling
reserve
5,113
(1.718)
1395
4,563
412
22,412
Clubs and s￿Ieties archwe
19.196
(17.457)
5,018
1,739
D￿eloPMent StJ)rt
Total Designaied Funds
22,475
Total Unrestrlcted Funds
1.882.850
129.330
Total Funds
11
1rn.9)0

UNIVERsrrY OF CENTRAL LANCASHIRE STUDENTS, UNION
NOTESTOTHE FINANCIAL STATEMEKrs
YEAR ENDED 31 JULY 2024
20. RESERVES {continued)
Pension Deficit Fund
The Union is a member of the Stucknt Union Superannuation &heme. a mulli-emFAoyer defined
benefit pension scheme. The fund value L* £1.27m represents Ihe Union's share of the scheme's
deficit at a nel present value, Ythich has a recovery plan njnniry until 2037. (Ncrte 21- Pensions. for
more det&ls.l Followng a lull review. the trustees decided to tra[￿er ttus lurKI from general tjnds to
restrioled fu￿$ to illustrate the rules place on the delicit, for which, the trustees are bound.
Beneflt in Ktnd- Accommodation & Services
The Students, Union occuties unNersity bjildings vthich are fulty maintai{￿d and sewiced by the
University. The n¢M-monetary told for Ilis SLFFP)rt is £664k and is report￿￿ in Statement of
Fina￿1￿ Activilies income and eXpe￿ritu￿e, page 23 detailed in notes 4, 6 and 8.
Clubs and Society Funds
FurKls raised by indivKJual clubs and societies are re(x)gnised as reslricled funds thro(NJh the
Statement ol Financial Attwities in the year the Union is entitled lo the irbcome. EXpend[tU￿ is
recognised against these funds in the year V￿th any uwl funds beiro recognised as restricted
funds available to the iThJividual dubs arKI s(Kieties in future periods.
General Funds
Unrestricted general funds arising frotn the accumulat&l surplus from its various activities held to
provide Ilexibility in the future.
Sports Ball funds
Made Irc￿ SFX)rts Ball ￿rpluses, this fund is used to SUFWrt clubs and societies wth a lorvJ-te
investment need. This fuThJ is continuous.
Clubs and Societies Designaled Blddlngl knhived Reserves
The funds of groups inactive for two or more years are translerred lo an archive reseNe and held for
release lo Groups who can bid for these furKts for investment into their aub or Stxiety benefiting
students on many level&
Film and Arts Deslgnated Fund
The Students, Union received a'ontroff grant cl frcKn the UnNersity in 2008 in order to support
Ihe Continued presentation of films by the Union's Film &xiely in WttcfEII and Kenyon Cir+ema' on
Campus. As this remwns unused the UnNersity have lift&l their restrÉction these fuTrJs have been
designated for the generd film arts
Student Union Prole¢ts
The* are furKls ring fenced for pyojects to beneftt sludents and the community.
Development Sport
Uclan have sponsored iThYcor ciid(et, nj￿)Y. bad(etbafi and ba5ebdl for SrJJrt development which was
invoiced in July 2023 and paid in this linancia year. Unwd illVlm￿ we held in this reseNe until they
are paid io ensure the group collects the funds owing.

UNIVERSITY OF CENTRAL LANCASHIRE STUDENTS, UNION
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 JULY 2024
20. RESERVES {contlnued}
2023 Reserves Movement
August
Incomlng Resour
resources expended
At 31 July
2023
Tralsfers
Restrlcted Funds
Pension Defi(it Fu
Benefit in kirKI-
Accommodation arKI Service
Clubs arKI Societies
{1.288.211)
173,621)
587,172 (587,172)
91,218 {1.270,6141
7&6
161559 (175,49n
(6,7791
59,973
Student Union ProjeLXs
9.617
Total Reslrided Funds
759.310
Unrestricted Funds
Accutnulated Gener￿ Fund
173,019 1 959￿00
1.905.379
Total General Funds
1TJ019 1959
379
Designated funds
Film and arts designated
fund
Sport Ball funds
Clubs and S￿ietieS bithfing
reserve
5.113
5,113
4.n7
(154)
4.563
22.412
22,412
Clubs S￿letIes archived
12,417
3(Kl
19,196
Develo[￿ent Swrt
Total Deslgnaled Funds
18
154
56
Total Unrestricted Funds
217.378
818
224
Totsl Funds
985.526
1744.605

UNIVERSITY OF CENTRAL LANCASHIRE STUDENTS, UNION
NOTES TO THE FINANCIAL STATEMEKrs
YEAR ENDED 31 JULY 2024
21. PENSIONS
The Charity participates in the Studerrt Union Superannuation Stheme, a Multiem￿oYer defin8d
tr*nelit r*nsion scheme whose membership congsts ol employees of students. unions and
related bodies throughout the country. With effect frcrfn 30 SepteM￿r 2011 the scheme closed to
future accrual.
The employers share the ￿Uar[al risks asscKiated with all members of the scheme. The Charity
is not legJly responsible lor the stheme atKI (k￿ not have ￿cient inlomiation lo use defined
benefit accounting. Accorthwly. the ￿heme is account￿ for as rf it is a defir￿d contribution
scheme.
Tre Charity and the other emtAoyers are joinlly and severafiy liable for t￿ scheme's delicit. Al 30
JLrne 2019. the schetne (werall defi(it was £140,900,000 when a recommended monthly
contribution was sel for each parbcipating emF4oyer. Tte figure sel was that estimated lo dear
the ongoing delicil, wth contributions to be made to 21y35 (later extended lo 203n increasing by
at least 50/0 each year. (A onfrotf increase o18Vo vra5 applied in October 2021).
A liaLxlity 01 £1.222,533 P023: £1.270.614) has tEen re(x)gnised lor UCLan SU, rewesenling the
present value of the additional conlributions payable belween the year-end and 2037, wllh the
resulting movwnent recognised in the Statement of Financi￿ Aclivity under the heading of
'Pension Discounl UnwirKling' rewirting a cost d £47.7￿12023: £73.2611. The disc￿nt rale
used lo calculate this liability vrds 5.08V..
As the SUSS is dosed lo f(rtU￿ acuual tI￿re I￿re no em￿0yer contritrMAiorts paid into the
scheme by the Union for the year ended 31 July 202412023 . £nill' the Union i*)es however
ntinue lo pay funding towards the defictr. For the year ended 31 July 2024, these c0rrtri￿tIOnS
amounted lo £95.78012023: £91:2181.
The Union ￿s0 partiopates in tw other delined (x)ntiiLxrtion ￿hernes. The assets of these
schemes are held separately Irc¥n those of the ￿￿panY in an iTr*endently admirustered fund.
22. RELATED PARTY TRANSACTIONS
The Union is a registered charity for the purposes of the Charities Act 1993. The Union is in
receipt ol a recurrent grant Ir(xn the U[ive￿ty of centr￿ Lancashire IUCLan} d £1,380,0
{2023.. £1,359,636).
In addition, the Union occupies its building on a rent-free basis under an informal licen￿ subject
to the Union maintainiry the building in a gc￿l state of rep&r. In ￿Drdan￿ wlh the Charities
SORP120151. the trustees have eslimaled that the provi&on of space and associated services is
worth £6￿,301 12023: £587,171} lo the Union aThJ have recognised this amount in the
Statement of Financial Activities. Amounts due from the un￿￿91ty al 31 July 2024 were £10,997
12023= £10,367).
The Elecl&l Offi￿rS reC￿ve remuneration for th￿r seNices as provided lor wthin the Arbdes of
Association. The aggregate amount payable uThJer such conlracis in the year was £81.729
12023.. £76,668). In addition, the Union has patd Trustees. liability Ir￿￿[ar￿e of £1,445.
{2023.' £1,445).

UNIVERSITY OF CENTRAL LANCASHIRE STUDENTS, UNION
NOTES TOTHE FINANCIAL sTATEME￿[s
YEAR ENDED 31 JULY 2024
23. coKfROLLIIK PARTY
Control of the Union rests wth the Student CcNJncal ￿lch is made up of an elected chairperson
and elecled student representatives. The Cwr¥il ￿KIeS on Union wliryy, mandates the
trustees to PLrt policies into action and en￿reS the Board of Truslees keep standards high across
all aspects of the Un￿)n.
24. NEf ASs￿s BY FUNDS
Restricted Unrestrictgd
Total
2024
Tangible Fixed Assets
Investments
Net Current Assets
39,370
39,370
107,476
117,962
11,121.9611
Liabilibes due after MO￿ than one year
11.121,961)
Total Funds
(1,111A751
146,847
(964628)
Available Resaves
111.058
146,847
257.905
Accounting Reserves
. Total Reserves
{1.2215331
(1,111.475)
(1,221533)
{964,628)
146.847
Restrided
Unreslri¢ted
Total
2023
Tangible Fixed Assets
Investments
Net Current Assels
422
26.422
{2I391)
(1,174 836)
165.801
142,410
(1.174,836}
Liabilibes due after more than one year
Total Funds
1.19&2
191224
Avwlable ReseNes
Accounting Reserves
Totsl Resen
72.387
(1,270,614)
(1.19&227)
19l224
264.611
(1,270,614)
{1.IX16.003)
191224

UNIVERSITY OF CENTRAL LANCASHIRE STUDENTS, UNION
NOTES TO THE FINANCIAL STATEMEKrs
YEAR ENDED 31 JULY 2024
25. C0MMThAqE￿s UNDER OPERATING LEASES
At 31 July 2024 the StL*Jenls' Union had no outstarKll￿ oljigations under non-cancellaNe
0F￿rat1[￿J leases12023." none).
26. TRUSTEES, REMUNERATION AND EXPENSES
Each of the Union's 4 Elected 0￿￿er$ are paid £20.43212023: £19,791) for the year, as
authorised in the union's goveming do(xJment. for the represenlation, campaigning, and SLrpport
work they undertake as (*stinct frcmn their trust￿. resF¥)ngbilities. This work i￿ludeS voiryng
student opinion with the insbtulion ar]d locai community. defending and exte￿jIng the right of the
students through ￿titIOns, di￿￿$S0n wtlh MPS and also ojuanising and supporting student
Volunt￿rS and seNice provision for them. total sdary and Nl costs for the elected otticer
team amounted to £89.02712023: £76:668). IncIL￿d within these totas are employer pengon
contributions of £1.040 {2023.. £5,200)-
No other twstee receNed any benefits duriw Ihe year.
TrL￿tee$ were r￿r￿burSed a totsl of £nil {2023 - £ril) the year in respect cl personal travel
and subsistence expenses.
27. RECONCIUATION OF OPERATING CASH FLOW
2024
2023
Cash flows Irom operating activities
Surplus lor the finanad year
41,375
(20,476)
Adj'ustments to reconaleprofit for tlpyearto net cash fmm
operating athities
Interest received
Depreoalion
(Increaselldecrease in inventories
Decrease in trade and other deblors
Increase in trade and other ueditors
back Pension Discount UnwrKling Costs
(2.213)
17.380
(8,635)
(387)
17,101
47,700
(1.7001)
20,306
(2,441)
(24,126)
32.533
73,621
Cash generated Irom operatiw actlvlties
71.717
28. co￿1NGEmr LIABIUTY
As detailed in the Tnjstees. Report on page 11. the Union is subject to a possible clwm frL¥n
HMRC in relation lo the Ireatmenl of calering sales in some ol its commercid trading outiets.
The Students, Union, along wlh other Siudenls, Unions and the NUS, is legally challenging
the basis for HMRC'S potential daim, which management arKI the Trustees estimate lo be in
the region of £1,891 and, as al rep)rting dale and 2pwoval of the finanual slalements,
asse55 the claim to I￿ p￿ble rather than probaNe and hence this potential oulflow has
been disclosed as a contirt9enl li*lily rather than a provisK)n.