OpenCharities

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

2025-07-31-accounts

Docusign Envelope ID: A46FF6D6-4572-4DE9-86A6-F3C514F6B345

Registered company number: 03426445 Charity registration number: 1142837

BIRMINGHAM CITY STUDENTS’ UNION a company limited by guarantee

TRUSTEES’ REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2025

Docusign Envelope ID: A46FF6D6-4572-4DE9-86A6-F3C514F6B345

BIRMINGHAM CITY STUDENTS’ UNION

CONTENTS

Page
Legal and administrative details 1 – 2
Trustees’ report 3 – 10
Independent auditor’s report 11 – 13
Statement of financial activities 14
Balance sheet 15
Statement of cash flows 16
Notes to the financial statements 17 – 33

Docusign Envelope ID: A46FF6D6-4572-4DE9-86A6-F3C514F6B345

BIRMINGHAM CITY STUDENTS’ UNION

LEGAL AND ADMINISTRATIVE DETAILS

2025/26 2024/25

Directors and Trustees

Chair of Trustees Stephen Harrison-Mirfield Stephen Harrison-Mirfield

Sabbatical Officers

Student Trustees

External Trustees

Wahid Umatiya Luke McCombe Luke Mccombe Shoukat Mehsud Shoukat Mehsud Oluwadamilola Iyanda Oluwadamilola Iyanda Craig David Harshal Srivastava Kristina Patel Ashween Kaur Ashween Kaur Harshal Srivastava Chantelle Pemberton Urwa Abdullah Gia Dhami Mohamed Mahmud Egal Hassan Mahmood Yavanica Sethi Mohammed Ait Moulay Jinal Shah Urwa Abdullah Mohamed Mahmud Egal Yavanica Sethi Rupert Newman Rupert Newman Nana Akua Serwaa Adofo Einita Suman Einita Suman Stephen Harrison-Mirfield Stephen Harrison-Mirfield

Urwa Abdullah, Mohamed Mahmud Egal, Yavanica Sethi, Ashween Kaur and Einita Suman resigned on 30 June 2025. Harshal Srivastava resigned on 23 May 2025 and Luke McCombe resigned on 15 December 2024. Jinal Shah resigned on 15 November 2024.

Shoukat Mehsud, Craig David and Wahid Umatiya were appointed 1 July 2025. Mohamed Ait Moulay, Hassan Mahmood, Gia Dhami and Chantelle Pemberton were appointed 17 July 2025. Kristina Patel was appointed 16 June 2025 and Nana Akua Serwaa Adofo was appointed 25 June 2025.

Sabbatical Officers

President Shoukat Mehsud Luke McCombe Vice President Student Voice Kristina Patel Ashween Kaur Vice President Education Craig David Vice President Academic Experience Shoukat Mehsud Shoukat Mehsud Vice President Welfare Oluwadamilola Iyanda Vice President Equity & Inclusion Oluwadamilola Iyanda Vice President Opportunities & Wahid Umatiya Harshal Srivastava Community

Oluwadamilola Iyanda Harshal Srivastava

Senior Management Team

Chief Executive Head of Central Services Head of Engagement Head of Member Services

Suzanne Ledger Angela Lefevre Stephanie Groves John Moore

Suzanne Stevenson Angela Lefevre Michael Gale John Moore

Page 1

Docusign Envelope ID: A46FF6D6-4572-4DE9-86A6-F3C514F6B345

BIRMINGHAM CITY STUDENTS’ UNION

LEGAL AND ADMINISTRATIVE DETAILS

Charity registration number 1142837 Registered company number 03426445 Company secretary Suzanne Ledger Registered office Curzon Building 4 Cardigan Street Birmingham B4 7BD Bankers National Westminster Bank Plc 46 One Stop Shopping Centre 2 Walsall Road Birmingham B42 1AZ Auditor Cooper Parry Group Limited Cubo Birmingham 4[th] Floor Two Chamberlain Square Birmingham B3 3AX

Page 2

Docusign Envelope ID: A46FF6D6-4572-4DE9-86A6-F3C514F6B345

BIRMINGHAM CITY STUDENTS’ UNION

TRUSTEES’ REPORT FOR THE YEAR ENDED 31 JULY 2025

The Trustees present their Annual Report, which also serves as the Directors’ Report for the purposes of the Companies Act 2006, together with the audited financial statements of Birmingham City Students’ Union (BCUSU) for the year ended 31 July 2025. This report has been prepared in accordance with the Charities Act 2011, the Companies Act 2006, and the Statement of Recommended Practice (SORP) applicable to charities preparing their accounts in accordance with FRS 102.

The Trustees confirm that they have complied with the duty in section 17 of the Charities Act 2011 to have due regard to guidance issued by the Charity Commission on public benefit.

2024/25 represented the first year of delivery of BCUSU Strategy 2024+, a newly launched strategic framework designed to strengthen student voice, advance equity, and enhance partnership with Birmingham City University (BCU). The year was characterised by high levels of democratic engagement, structural reform to representation systems, and deepening institutional partnership, alongside a continued focus on financial sustainability and good governance.

Objectives and public benefit

BCUSU is a private company limited by guarantee, incorporated in the United Kingdom on 28 August 1997, and governed by its Memorandum and Articles of association. BCUSU is also registered with the Charity Commission, as a charity established to advance the education of students at Birmingham City University for the public benefit. Its charitable objectives are delivered through:

In delivering these objectives, BCUSU ensures that its activities are accessible, inclusive, and responsive to the diverse needs of the BCU student population. Trustees consider public benefit throughout decisionmaking, using student insight, participation data, and feedback mechanisms to ensure activities remain aligned to charitable purposes.

Strategy and Year 1 Delivery

BCUSU Strategy 2024+ was formally approved by the Board of Trustees during the 2023/24 year and 2024/25 represents Year 1 of implementation. The strategy sets a clear direction for the Students’ Union, focused on five interconnected priorities:

Trustees monitored delivery of the strategy through regular reporting, performance updates, and scrutiny of risk and impact. Year 1 activity focused on embedding new systems, piloting new approaches to partnership, and ensuring the organisation was structurally equipped to deliver against its ambitions.

Key activities and achievements

Student voice and representation

A major focus of the year was the implementation of the Joint Academic Representation Policy between BCUSU and BCU. This new framework formalised student representation within institutional quality processes and significantly strengthened coverage and consistency.

Page 3

Docusign Envelope ID: A46FF6D6-4572-4DE9-86A6-F3C514F6B345

BIRMINGHAM CITY STUDENTS’ UNION

TRUSTEES’ REPORT FOR THE YEAR ENDED 31 JULY 2025

During the year:

The introduction of the Student Feedback Hub enabled representatives and staff to log, track, and respond to student feedback in real time. Over 350 items of feedback were submitted during the year, covering teaching quality, assessment, timetabling, facilities, and wellbeing. While resolution rates remain an area for improvement, the system has provided unprecedented transparency and accountability and is now embedded within university governance and quality assurance processes. Trustees recognise the feedback hub as a critical enabler of meaningful student partnership and a foundation for continuous improvement.

Democratic engagement

BCUSU delivered another year of strong democratic participation. Officer Elections achieved a 23.3% voter turnout, significantly above the national sector average and placing BCUSU among the highest-performing students’ unions nationally. Candidate numbers increased by 41%, with strong representation from international students.

Trustees note both the strength of democratic engagement and the increase in election-related complaints, reflecting national trends. A review of electoral processes is underway to further strengthen fairness, transparency, and accessibility.

Advice and support

The BCUSU Advice Service provided independent advice and advocacy to 1,919 students, a 32% increase on the previous year. The majority of cases related to academic matters, followed by financial and housing issues. Service quality remained high, with the vast majority of students reporting that advice helped them to remain on or complete their course.

Trustees consider the Advice Service to be a core public benefit activity and note its growing importance in supporting student retention and wellbeing.

Equity, Inclusion and Belonging

BCUSU delivered a wide range of equity and inclusion initiatives throughout the year, including cultural celebrations, welfare initiatives, and targeted support for underrepresented groups. These activities contributed to a stronger sense of belonging and increased visibility of diverse student voices.

BCUSU also played a central and independent role in shaping BCU’s revised Access and Participation Plan (APP). Student-led insight informed APP priorities, governance reforms, and evaluation approaches, marking a shift from consultation to partnership. Trustees regard this as a significant achievement in advancing equitable student outcomes.

Performance and impact

Trustees assess performance using a combination of quantitative indicators and qualitative insight. Key indicators during the year included:

Page 4

Docusign Envelope ID: A46FF6D6-4572-4DE9-86A6-F3C514F6B345

BIRMINGHAM CITY STUDENTS’ UNION

TRUSTEES’ REPORT FOR THE YEAR ENDED 31 JULY 2025

Student feedback highlights increased satisfaction with teaching quality, learning communities, and support services, alongside clear priorities for improvement in assessment clarity, communication, facilities, and accessibility. Trustees consider this balanced feedback to demonstrate a maturing culture of partnership and shared responsibility.

Governance, structure and management

BCUSU is governed by a Board of Trustees comprising elected student officers, external trustees, and appointed trustees. The Board retains overall responsibility for strategy, financial oversight, risk management, and compliance. Day-to-day operations are delegated to the Chief Executive and Senior Management Team within a framework of delegated authority.

The Board comprises:

Sabbatical Officers:

During the year, the Board undertook a review of the elected officer portfolios and job descriptions, including benchmarking representative roles against comparator students’ unions. Following this review, the Board resolved to maintain five full-time sabbatical officer positions, with revised titles and portfolio alignment to ensure clarity of responsibility and strategic fit. The Sabbatical Officers are now designated as: President, Vice President Education, Vice President Community, Vice President Student Voice and Vice President welfare.

These officers are elected annually through cross-campus secret ballot by BCUSU members. The roles are full-time and remunerated in accordance with BCUSU Officer Remuneration Policy. Each Sabbatical Officer may serve a maximum of two one-year terms.

During the year, the President resigned from office for personal reasons. The Board ensured continuity of governance and representation in line with the Constitution, with remaining officers collectively absorbing responsibilities until the end of the term. Trustees are satisfied that appropriate arrangements were in place and that governance effectiveness was maintained.

External Trustees:

External Trustees are appointed through simple majority vote of the People & Remuneration Committee. Following a governance review conducted in the previous year, the term structure for External Trustees was revised to strengthen continuity and long-term governance stability.

External Trustees now serve an initial three-year term and may be re-appointed for one further three-year term, allowing a maximum continuous service of six years. The Board also introduced the role of Chair of the Board of Trustees, who may serve a single three-year term in that capacity, in accordance with governing documents.

Trustee induction and training

New Trustees receive an induction that includes an overview of BCUSU operations and their legal and administrative responsibilities. New Sabbatical officers and Student Trustees, receive additional externally delivered training to support their understanding of the role and the Trustee Hub holds Charity Commission resources on how to be an effective Trustee that is accessible to all. Ongoing training is provided based on identified skills gaps and requirements.

Page 5

Docusign Envelope ID: A46FF6D6-4572-4DE9-86A6-F3C514F6B345

BIRMINGHAM CITY STUDENTS’ UNION

TRUSTEES’ REPORT FOR THE YEAR ENDED 31 JULY 2025

Committee framework

The Trustee Board meets quarterly to oversee governance, strategy, financial performance and organisational effectiveness. Following a governance review, the Board streamlined its committee structure to strengthen clarity of oversight and reduce duplication. The Trustee Board is now supported by two standing sub-committees, each meeting quarterly:

  1. Audit & Risk – responsible for financial oversight, risk management, compliance and matters related to governance assurance.

  2. People & Remuneration – Oversee pay, remuneration policy, workforce planning, trustee appointment and broader people-related matters.

In addition, the Executive Committee meets weekly and comprises Sabbatical Officers and the Senior Management Team, who monitor operational performance, review organisational administration, receives reports from individual officers and the Chief executive officer, and addresses policy and delivery matters within the framework of delegated authority outlined in the Memorandum and Articles of Association.

Risk management

Trustees maintain oversight of a Strategic Risk Register which is reviewed quarterly by the Audit & Risk Committee and the Board and have reviewed the effectiveness of the organisation’s risk management processes during the year to ensure they remain appropriate and proportionate. Throughout 2024/25, the register contained six principal organisational risks, with scoring reviewed and challenged during the year.

The principal risks during the reporting period were:

Trustees are satisfied that risks were identified, assessed, and actively managed throughout the year. The Board also recognises emerging risks associated with income diversification, democratic engagement, and the attraction and retention of experienced staff, which have been incorporated into the Strategic Risk Register for 2025/26 to support proactive management.

Page 6

Docusign Envelope ID: A46FF6D6-4572-4DE9-86A6-F3C514F6B345

BIRMINGHAM CITY STUDENTS’ UNION

TRUSTEES’ REPORT FOR THE YEAR ENDED 31 JULY 2025

Overall, Trustees consider BCUSU’s risk management arrangements to be proportionate, effective, and appropriate for the organisation’s size, complexity, and operating environment.

Financial review

Birmingham City Students’ Union continues to benefit from the recognition and financial support of Birmingham City University. During the year ended 31 July 2025, the annual block grant totalled £1,800,000 (2024: £1,414,000). In addition to the block grant, BCUSU occupies space owned by the University, with utilities, caretaking and cleaning services provided in kind. In accordance with relevant financial reporting standards, the estimated value of this serviced accommodation has been recognised within the financial statements at £619,950 (2024 restated: £619,950).

Gross income from all sources for the year totalled £3,888,361 (2024 restated: £3,616,320). Total expenditure was £3,639,339 (2024 restated: £3,488,749), resulting in a net surplus before gains and losses of £249,022 (2024: 127,571). The financial result reflects continued investment in representation, advice, student engagement activity and organisational development aligned to Strategy 2024+.

The result for the year includes a deficit on restricted funds of £24,147 and a surplus on unrestricted funds of £273,169. Trustees monitor the balance between restricted and unrestricted income to ensure sufficient flexibility to respond to emerging student needs.

Reserves Policy

The Trustees have reviewed the charity’s reserves policy during the year. The policy requires the Union to maintain free reserves equivalent to approximately three months’ operating expenditure in order to manage cash flow, absorb unforeseen financial shocks, and protect core charitable activities.

At 31 July 2025, free reserves (excluding tangible fixed assets, pension liabilities, restricted funds and designated funds) stood at £1,117,053 (2024: £1,022,071). This compares to a target level of approximately £910,000, being the three months’ expenditure level. Trustees are satisfied that the reserves position at year end is consistent with the approved policy and provides an appropriate level of financial resilience.

Investment Policy

BCUSU’s investment policy prioritises capital preservation and liquidity over return. Surplus cash balances are held in low-risk interest-bearing deposit accounts with recognised financial institutions. Trustees do not undertake higher-risk investment activity and review arrangements periodically to ensure funds remain secure and accessible.

Going Concern

The Trustees have considered the charity’s financial forecasts, cash flow projections, reserves position and principal risks, including reliance on block grant funding. Having reviewed these factors, Trustees are satisfied that BCUSU remains a going concern and is well placed to meet its obligations as they fall due for the foreseeable future.

Financial Sustainability

While BCUSU remains financially stable, Trustees recognise the structural reliance on University block grant funding. During the year, continued partnership working provided assurance regarding alignment of funding with Strategy 2024+. However, Trustees acknowledge the longer-term risk associated with limited income diversification. Development of alternative income streams and enhanced commercial resilience has therefore been incorporated into strategic planning and the 2025/26 Risk Register.

Overall, Trustees are satisfied that BCUSU remains financially stable, maintains appropriate reserves, and continues to manage resources responsibly in pursuit of its charitable objectives.

Page 7

Docusign Envelope ID: A46FF6D6-4572-4DE9-86A6-F3C514F6B345

BIRMINGHAM CITY STUDENTS’ UNION

TRUSTEES’ REPORT FOR THE YEAR ENDED 31 JULY 2025

Plans for future periods

2025/26 will represent Year 2 of delivery of BCUSU Strategy 2024+. Building on the structural reforms and increased engagement achieved in Year 1, Trustees will focus on consolidating impact, improving consistency of outcomes, and strengthening long-term sustainability.

1. Student Voice and Representation

Following the election and training of 793 Course Representatives in 2024/25 (a 51% increase on the previous year) and the achievement of full Postgraduate Research representation coverage, Trustees will prioritise:

The Board will monitor representative recruitment, training completion rates, feedback closure rates, and institutional impact reporting as key indicators of progress.

2. Democratic Engagement and Legitimacy

With a 23.3% voter turnout in Officer Elections during 2024/25, significantly above sector averages, and a 41% increase in candidates, Trustees will focus on:

Success will be measured through voter turnout, candidate diversity, engagement metrics, and postelection evaluation.

3. Advice, Wellbeing and Student Support

Following a 32% increase in demand for Advice services, supporting 1,919 students in 2024/25, Trustees recognise the importance of maintaining service quality alongside growing demand.

Priorities for 2025/26 include:

Page 8

Docusign Envelope ID: A46FF6D6-4572-4DE9-86A6-F3C514F6B345

BIRMINGHAM CITY STUDENTS’ UNION

TRUSTEES’ REPORT FOR THE YEAR ENDED 31 JULY 2025

4. Equity, Inclusion and Belonging

Having played a central role in shaping BCU’s revised Access and Participation Plan (APP), BCUSU will focus on:

Trustees will receive regular reporting on participation data, belonging indicators, and APP partnership outcomes.

5. Organisational Sustainability and Governance

In Year 2 of Strategy 2024+, Trustees will continue to strengthen organisational resilience through:

Progress will be measured through financial performance indicators, risk register monitoring, staff engagement data, and governance effectiveness reviews.

Measuring Strategic Progress

The Board will continue to monitor organisational KPIs aligned to Strategy 2024+, including:

Trustees are satisfied that BCUSU enters 2025/26 with strengthened systems, improved engagement levels, and a clear evidence base from Year 1 of Strategy 2024+. The focus for the coming year is to convert structural progress into sustained, measurable student impact.

Governance and Oversight

During the reporting period, the Trustees have:

Compliance with Public Benefit Requirements

The Trustees confirm that they have complied with the guidance issued by the Charity Commission on public benefit. They have ensured that all activities undertaken during the year align with BCUSU’s charitable objectives and are accessible to all students at Birmingham City University.

Page 9

Docusign Envelope ID: A46FF6D6-4572-4DE9-86A6-F3C514F6B345

BIRMINGHAM CITY STUDENTS’ UNION

TRUSTEES’ REPORT FOR THE YEAR ENDED 31 JULY 2025

Statement of Trustees’ Responsibilities

The Trustees of Birmingham City Students’ Union (BCUSU), who are also Directors of BCUSU for the purposes of company law, are responsible for preparing the Trustees’ Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the Trustees to prepare financial statements for each financial year. Under company law the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing these financial statements, the Trustees are required to:

The Trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. 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.

In so far as the Trustees are aware:

Approval

This Trustees’ Annual Report has been prepared in accordance with the special provisions relating to companies, subject to the small companies regime within part 15 of the Companies Act 2006.

Stephen Harrison-Mirfield Chair of the Board of Trustees

Date: 27 March 2026

Page 10

Docusign Envelope ID: A46FF6D6-4572-4DE9-86A6-F3C514F6B345

BIRMINGHAM CITY STUDENTS’ UNION

INDEPENDENT AUDITOR’S REPORT TO THE TRUSTEES AND MEMBERS OF BIRMINGHAM CITY STUDENTS’ UNION

Opinion

We have audited the financial statements of Birmingham City Students’ Union Limited (“the Charitable Company”) for the year ended 31 July 2025 which comprise the statement of financial activities, the balance sheet, the statement of cashflows 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 Charitable Company in accordance with the ethical requirements 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 related to going concern

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

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

Our responsibilities and the responsibilities of the directors 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 Trustees’ Report, other than the financial statements and our auditor’s report thereon. The Trustees are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Page 11

Docusign Envelope ID: A46FF6D6-4572-4DE9-86A6-F3C514F6B345

BIRMINGHAM CITY STUDENTS’ UNION

INDEPENDENT AUDITOR’S REPORT TO THE TRUSTEES AND MEMBERS OF BIRMINGHAM CITY STUDENTS’ UNION

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 Charitable Company and its environment obtained in the course of the audit, we have not identified material misstatement in 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 Statement of Trustees' responsibilities, the Trustees (who are also the Directors of the Charitable Company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the Trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

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

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.

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 specific procedures for this engagement and the extent to which these are capable of detecting irregularities, including fraud are detailed below.

Page 12

Docusign Envelope ID: A46FF6D6-4572-4DE9-86A6-F3C514F6B345

BIRMINGHAM CITY STUDENTS’ UNION

INDEPENDENT AUDITOR’S REPORT TO THE TRUSTEES AND MEMBERS OF BIRMINGHAM CITY STUDENTS’ UNION

Our assessment focussed on key laws and regulations the Charitable Company has to comply with and areas of the financial statements we assessed as being more susceptible to misstatement. These key laws and regulations included but were not limited to compliance with the Companies Act 2006, Charities Act 2011, taxation legislation, data protection, anti-bribery and employment legislation.

We are not responsible for preventing irregularities, including fraud. Our approach to detecting irregularities, including fraud, included but was not limited to, the following:

Whilst considering how our audit work addressed the detection of irregularities, we also considered the likelihood of detection of fraud based on our approach. Irregularities arising from fraud are inherently more difficult to detect than those arising from error.

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

A further description of our responsibilities for the audit of the financial statements is located at the Financial Reporting Council’s (“FRC’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 Charitable Company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the Charitable Company’s members those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Charitable Company and the Charitable Company’s members, for our audit work, for this report, or for the opinions we have formed.

Nichola Hodgetts ACA (Senior Statutory Auditor) for and on behalf of:

Cooper Parry Group Limited

Statutory Auditor Cubo Birmingham 4[th] Floor, Two Chamberlain Square Birmingham B3 3AX

Date: 28 April 2026

Page 13

Docusign Envelope ID: A46FF6D6-4572-4DE9-86A6-F3C514F6B345

BIRMINGHAM CITY STUDENTS’ UNION STATEMENT OF FINANCIAL ACTIVITIES (including Income and Expenditure Account) FOR THE YEAR ENDED 31 JULY 2025

Restricted Restricted Restated
capital revenue
Unrestricted		 2025 2024
funds funds
funds		 Total Total
Note £ £
£		 £ £
Income from:
Donations and legacies 2 - 21,875 2,419,650 2,441,525 2,162,545
Charitable activities 3 - 59,498 1,330,050 1,389,548 1,411,722
Other trading activities 4 - - - - 505
Investment income - - 43,152 43,152 29,945
Other income - - 14,136 14,136 11,603
─────── ───────
───────		 ─────── ───────
Total income - 81,373 3,806,988 3,888,361 3,616,320
─────── ───────
───────		 ─────── ───────
Expenditure on:
Raising funds 5 - - 173,192 173,192 159,336
Charitable activities 6 12,218 93,302 3,360,627 3,466,147 3,329,413
─────── ─────── ─────── ─────── ───────
Total expenditure 12,218 93,302 3,533,819 3,639,339 3,488,749
─────── ─────── ─────── ─────── ───────
Net income / (expenditure) (12,218) (11,929) 273,169 249,022 127,571
Transfers between funds 14,15 - 452 (452) - -
─────── ─────── ─────── ─────── ───────
Other recognised gains / (losses)
Actuarial gains / (losses) on defined - - 39,116 39,116 (160,422)
benefit pension schemes 17
─────── ───────
───────		 ─────── ───────
Net movement in funds (12,218) (11,477) 311,833 288,138 (32,851)
Fund balances brought forward 14,15 20,607 190,414 (479,077) (268,056) (235,205)
─────── ───────
───────		 ─────── ───────
Fund balances carried forward 14,15 8,389 178,937 (167,244) 20,082 (268,056)
═══════ ═══════
═══════		 ═══════ ═══════

There are no recognised gains or losses for the year other than those included in the statement of financial activities.

None of the reported amounts relate to discontinued operations.

The notes on pages 17 to 33 form part of these financial statements.

Page 14

Docusign Envelope ID: A46FF6D6-4572-4DE9-86A6-F3C514F6B345

BIRMINGHAM CITY STUDENTS’ UNION Registered Company Number 03426445 CHARITY BALANCE SHEET AS AT 31 JULY 2025

2025 2024
Note £ £ £ £
Fixed assets
Tangible assets 10 35,050 65,840
Investments 11 100 100
─────── ───────
35,150 65,940
Current assets
Stocks 91,448 94,894
Debtors 12 111,742 108,591
Cash at bank and in hand 1,622,591 1,364,022
─────── ───────
1,825,781 1,567,507
Creditors:amounts falling due within one
year 13 (522,283) (484,279)
─────── ───────
Net current assets 1,303,498 1,083,228
─────── ───────
Total assets less current liabilities 1,338,648 1,149,168
Defined benefit pension scheme liability 13a (1,318,566) (1,417,224)
─────── ───────
Net assets 20,082 (268,056)
═══════ ═══════
The funds of the charity
Restricted capital funds 14 8,389 20,607
Restricted revenue funds 14 178,937 190,414
Unrestricted funds
Designated funds 15 150,000 -
General funds 15 1,143,714 1,067,304
Pension Reserve fund 15 (1,460,958) (1,546,381)
─────── (167,244) ─────── (479,077)
─────── ───────
20,082 (268,056)
═══════ ═══════

The financial statements were approved and authorised for issue by the Trustees and were signed on their behalf on 27 March 2026.

Stephen Harrison-Mirfield Chair of Trustees

The notes on pages 17 to 33 form part of these financial statements.

Page 15

Docusign Envelope ID: A46FF6D6-4572-4DE9-86A6-F3C514F6B345

BIRMINGHAM CITY STUDENTS’ UNION STATEMENT OF CASH FLOWS AS AT 31 JULY 2025

2025 2024
Note
£		 £
Cash flow from operating activities:
Net cash (used) / provided by operating activities (i) 262,382 146,503
Cash flows from investing activities:
Purchase of property, plant and equipment 10 (3,813) (9,806)
─────── ───────
Net cash used in investing activities (3,813) (9,806)
Change in cash and cash equivalents in the reporting
period 258,569 136,697
Cash and cash equivalents at the beginning of the reporting
period 1,364,022 1,227,325
─────── ───────
Cash and cash equivalents at the end of the reporting
period (ii) 1,622,591 1,364,022
═══════ ═══════
(i) Reconciliation of net income for the reporting period
(as per the statement of financial activities) 249,022 127,571
Adjustments for:
Depreciation 10
34,603		 51,266
Pension scheme interest cost 17
82,876		 123,524
Pension scheme deficit contributions 17
(129,183)		 (123,524)
(Increase) / decrease in stocks 3,446 (21,144)
(Increase) / decrease in debtors (3,151) (8,019)
Increase / (decrease) in creditors 24,769 (3,171)
─────── ───────
Net cash (used)/ provided by operating activities 262,382 146,503
═══════ ═══════
(ii) Analysis of cash and cash equivalents
Cash at bank and in hand 1,622,591 1,364,022
═══════ ═══════
(iii) Analysis of changes in cash
At 1
August Other At 31 July
2024
Cashflows
changes		 2025
£ £
£		 £
Cash at bank and in hand 1,364,022 258,569
-		 1,622,591
─────── ───────
───────		 ───────
1,364,022 258.569
-		 1,622,591
═══════
═══════
═══════		 ═══════

Page 16

Docusign Envelope ID: A46FF6D6-4572-4DE9-86A6-F3C514F6B345

BIRMINGHAM CITY STUDENTS’ UNION

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025

1. ACCOUNTING POLICIES

The principal accounting policies adopted, judgments and key sources of estimation uncertainty in the preparation of the financial statements are as follows:

a Basis of preparation

The financial statements have been prepared on a going concern basis under the historical cost convention. They are prepared in sterling which is the functional currency of the charitable company and rounded to the nearest £1. They comply with the requirements of the Companies Act 2006 and the provisions of the Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their financial statements in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued in October 2019.

Birmingham City Students’ Union meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note(s).

b Going concern

The financial statements have been prepared on a going concern basis. The Board reviews the financial information for the charitable company and considers whether it is a going concern for a period of at least 12 months from the date of approval of the financial statements. After making enquiries, the Trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Accordingly, they continue to adopt the going concern basis in preparing the Annual Report and financial statements.

c

Income

Income from charitable activities is recognised in the statement of financial activities when:

Birmingham City Students’ Union receives a block grant and other miscellaneous grants from Birmingham City University each financial year. These are recognised as voluntary income on a receivable basis.

All income from fundraising trading is recognised gross of related expenditure on an accruals basis, exclusive of value added tax, with any money received for services provided after the year-end deferred.

The charity operates bar, entertainment, retail, and catering facilities for the benefit of its members. All income from these trades is recognised gross of related expenditure on an accruals basis, exclusive of value added tax, with any money received for events after the yearend deferred.

Other income is credited to the statement of financial activities in the year in which it is received.

Page 17

Docusign Envelope ID: A46FF6D6-4572-4DE9-86A6-F3C514F6B345

BIRMINGHAM CITY STUDENTS’ UNION

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025

1. ACCOUNTING POLICIES (continued)

d Resources expended and liabilities

Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any irrecoverable value added tax.

Liabilities are recognised as soon as there is a legal or constructive obligation committing the charity to pay out resources.

Direct costs of generating funds consist of the staff and other costs incurred in conducting fundraising trading.

Direct charitable expenditure comprises the staff, supplies and other costs directly attributable to activities that contribute to the achievement of the charitable objects. Direct charitable expenditure also includes governance costs.

Items of expenditure which contribute directly to the output of more than one activity or cost category are apportioned according to the Trustees’ best estimate of how much utility each area receives. For example, applicable staff costs are allocated on the basis of staff time spent on different activities.

Support costs are overheads that are not directly attributable to any cost category. These are apportioned in proportion to direct, unrestricted expenditure, this being the Trustees’ best estimate of how much utility each area receives. For example, applicable staff costs are allocated on the basis of staff time spent on different activities and other costs by their usage. Governance costs are those support costs associated with strategic management and compliance with constitutional and statutory requirements. These costs include the preparation and examination of the statutory accounts, the costs of Trustee meetings and the cost of any legal advice to Trustees on governance or constitutional matters.

e Tangible assets and depreciation

Items costing less than £500 per individual item are written off in the year of acquisition. All other items that can be used for more than one year are capitalised as tangible fixed assets.

Tangible fixed assets are stated at cost (or, if donated, reasonable value on receipt) less depreciation. Deprecation is provided at rates calculated to write off the cost of fixed assets, less their estimated residual value, over their estimated useful economic lives as follows:

Fixtures, fittings and equipment - bars and food outlets - 3 to 5 years straight line
Fixtures, fittings and equipment - retail
 - 5 years straight line
Fixtures, fittings and equipment - administration - 3 to 5 years straight line
Fixtures, fittings and equipment - motor vehicles - 4 years straight line

Assets under construction or not yet brought into use are not depreciated.

Fixed assets are reviewed for impairment where there are indications their service potential may be reduced. For example, an asset related to a specific activity will be reviewed for impairment when there are indications the activity may cease or be reduced.

f Investments

Fixed asset investments are valued at cost less provision for impairment as they are not readily saleable and therefore a reliable market value is not available.

Page 18

Docusign Envelope ID: A46FF6D6-4572-4DE9-86A6-F3C514F6B345

BIRMINGHAM CITY STUDENTS’ UNION

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025

1. ACCOUNTING POLICIES (continued)

g Financial Instruments

Birmingham City Students’ Union only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

h Stocks

Stocks are valued at the lower of cost and net realisable value. All stocks are goods for resale.

i Fund accounting

Restricted funds comprise income received to be used in accordance with specific instructions imposed by donors, less associated costs. The aim and use of each restricted fund is set out in the notes to the accounts where material.

Unrestricted funds are funds available for use at the discretion of the Trustees in furtherance of the general objectives of the charity.

j Pensions

Birmingham City Students’ Union participates in the Student Union Superannuation Scheme, a defined benefit scheme which is externally funded and contracted out of the State Second Pension. With effect from 30 September 2011 the scheme closed to future accrual. The fund is valued at least every three years by a professionally qualified independent actuary with the rates of contribution payable being determined by the Trustees on the advice of the actuary. The scheme is a multi-employer scheme and operates as a pooled arrangement with contributions paid at a centrally agreed rate. As a consequence, no share of the underlying assets and liabilities can be directly attributed to the Union. Under the terms of FRS 102 in these circumstances the value of the pension liability is calculated by discounting future cashflows, being contributions, adjusted for annual increases.

Birmingham City Students’ Union also contributes to National Union of Students Pension Scheme, a defined contribution pension scheme where the pension charge represents the amounts payable by the Union to the scheme in respect of the year.

k Taxation and deferred taxation

Birmingham City Students’ Union is a registered charity and as such is exempt from income tax and corporation tax under the provisions of Section 478 of the Corporation Tax Act 2010. There is no similar exemption for VAT, which is included in expenditure or in the cost of assets as appropriate.

l Critical accounting estimates and areas of judgment

The Union makes estimates and assumptions concerning the future. The resulting accounting estimates and assumptions will, by definition, seldom equal the related actual results. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are discussed below.

The present value of the SUSS pension liability under the recovery plan instigated by the Trustees of the pension scheme is based on a number of factors using a variety of assumptions including estimates of future increases in deficit contributions payable and the discount rate. Any changes in these assumptions will impact the carrying value of the pension liability.

Page 19

Docusign Envelope ID: A46FF6D6-4572-4DE9-86A6-F3C514F6B345

BIRMINGHAM CITY STUDENTS’ UNION

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025

2. DONATIONS AND LEGACIES

Restricted
Unrestricted		 Restated
funds
funds		 2025 2024
£
£		 £ £
University block grant -
1,800,000		 1,800,000 1,414,000
University accommodation grant -
619,650		 619,650 619,650
Other University grants -
-		 - 85,000
Project funding 21,875
-		 21,875 43,895
───────
───────		 ─────── ───────
21,875
2,419,650		 2,441,525 2,162,545
═══════
═══════		 ═══════ ═══════

Total income from donations and legacies was £2,441,525 (2024 - £2,162,545) of which £2,419,650 (2024 - £2,033,650) was unrestricted, £nil (2024 - £nil) was restricted capital funds and £21,875 (2024 - £128,895) was restricted revenue funds.

A prior year adjustment has been reflected in relation to the University accommodation grant to reflect the correct grant as per the underlying sub-lease agreement with the University. This had no impact on the net income / expenditure for the year ended 31 July 2024 or the net balance of funds at 31 July 2024 as the under the terms of the sub-lease agreement, the accommodation grant is provided to cover the cost of the rental charges payable under the agreement.

3. INCOME FROM CHARITABLE ACTIVITIES

Restricted
Unrestricted
funds
funds		 2025 2024
£
£		 £ £
Marketing and communications -
90,435		 90,435 96,981
Development and opportunities -
1,335		 1,335 -
Engagement general 59,498
1,170		 60,668 8,511
Bars and catering -
393,569		 393,569 429,687
Shops -
842,291		 842,291 861,543
Entertainments -
1,250		 1,250 15,000
───────
───────		 ─────── ───────
59,498
1,330,050		 1,389,548 1,411,722
═══════
═══════		 ═══════ ═══════

Total income from charitable activities was £1,389,548 (2024 - £1,411,722) of which £1,330,050 (2024 - £1,404,572) was unrestricted and £59,498 (2024 - £7,150) was restricted revenue funds.

4. INCOME FROM OTHER TRADING ACTIVITIES

Restricted
Unrestricted
funds
funds		 2025 2024
£
£		 £ £
Commercial marketing and sponsorship -
-		 - 505
───────
───────		 ─────── ───────
-
-		 - 505
═══════
═══════		 ═══════ ═══════

All income from other trading activities is unrestricted in both the current and prior years.

Page 20

Docusign Envelope ID: A46FF6D6-4572-4DE9-86A6-F3C514F6B345

BIRMINGHAM CITY STUDENTS’ UNION

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025

5. EXPENDITURE ON RAISING FUNDS

Stock Staff Other Total Total
purchases costs costs 2025 2024
£ £ £ £ £
Fundraising trading:
- Marketing and sponsorship - 109,820 63,372 173,192 159,336
─────── ─────── ─────── ─────── ───────
- 109,820 63,372 173,192 159,336

─────── ─────── ─────── ─────── ───────

All expenditure on raising funds is unrestricted in both the current and prior years.

6. EXPENDITURE ON CHARITABLE ACTIVITIES

Restated
Stock Staff Total Total
purchases costs Other costs 2025 2024
£ £ £ £ £
Advice and information - 207,792 81,925 289,717 263,266
Marketing and communications - 109,820 105,349 215,169 186,647
Student Voice - 166,600 124,982 291,582 365,387
Development and opportunities - 191,000 175,664 366,664 264,306
The Point - 112,291 30,336 142,627 109,939
Engagement general - 119,308 69,305 188,613 168,673
Member Services general - 71,836 30,083 101,919 104,496
Bars and catering 135,649 302,639 246,965 685,253 702,690
Shops 579,535 330,575 273,863 1,183,973 1,163,391
Entertainments - 176 454 630 618
─────── ─────── ─────── ─────── ───────
715,184 1,612,037 1,138,926 3,466,147 3,329,413
═══════ ═══════ ═══════ ═══════ ═══════

Total costs of charitable activities were £3,466,147 (2024 - £3,329,413) of which £3,360,627 (2024 - £3,248,743) was unrestricted, £12,218 (2024 - £12,218) was restricted capital funds and £93,302 (2024 – £68,452) was restricted revenue funds.

Staff costs and other costs include support costs analysed in Note 7.

Page 21

Docusign Envelope ID: A46FF6D6-4572-4DE9-86A6-F3C514F6B345

BIRMINGHAM CITY STUDENTS’ UNION

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025

7. SUPPORT COSTS

7. SUPPORT COSTS
Serviced Other Governa
Charitable activities: Support accomm support nce Restated
staff odation costs Costs 2025 2024
£ £ £ £ £ £
Advice and information 9% 28,900 53,184 19,583 1,820 103,487 101,557
Marketing and
communications 12% 39,616 72,906 26,845 2,494 141,861 139,216
Student Voice 14% 48,061 88,447 32,568 3,026 172,102 168,893
Development and
opportunities 8% 26,246 48,302 17,785 1,653 93,986 92,234
Welcome desks 3% 10,708 19,705 7,256 674 38,343 37,628
Engagement general 4% 12,077 22,225 8,184 760 43,246 42,439
Member Services general 3% 11,442 21,057 7,753 720 40,972 40,209
Bars and catering 21% 69,905 128,647 47,370 4,401 250,323 245,657
Shops 27% 89,578 164,853 60,703 5,641 320,775 314,794
Entertainments 0% 176 324 119 11 630 618
────── ────── ───── ───── ────── ──────
Total 336,709 619,650 228,166 21,200 1,205,725 1,183,246
══════ ══════ ══════ ═════ ══════ ═════

Included in other support costs are:

2025 2024
£ £
Administration costs 10,004 14,139
Professional fees 6,590 2,279
Staff support and HR 54,163 21,090
Union general equipment, IT and premises 2,252 736
Fixed contracts 24,793 25,858
Depreciation 5,595 6,463
Bank charges 1,709 1,517
Pool cars (running costs) 594 780
Union general insurance 39,590 41,015
Pension liability interest 82,876 123,524
────── ──────
228,166 237,401
═══════ ═══════
Included in governance costs are:
2025 2024
£ £
Audit and accountancy fees 21,200 17,500
─────── ───────
21,200 17,500
═══════ ═══════

Page 22

Docusign Envelope ID: A46FF6D6-4572-4DE9-86A6-F3C514F6B345

BIRMINGHAM CITY STUDENTS’ UNION

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025

8a. STAFF COSTS

8a. STAFF COSTS
2025
2024
£
£
Wages and salaries 1,547,911
1,391,786
Social security costs 141,056
110,755
Pension costs 32,890
33,664
1,721,857
1,536,205

Included in the above were redundancy payments totalling £22,458 (2024: £nil) and settlement payments totalling £8,458 (2024: £4,280).

Aggregate employee benefits * of key management personnel 2025
2024
£
£
291,210
254,572

There was one employee (2024: one) whose annual emoluments (excluding employer pension contributions) were between £80,000 and £90,000 (2024: between £70,000 and £80,000).

The average number of employees for the year was:

2025 2024
No. No.
Permanent staff 42 43
Casual staff 71 49
─────── ───────
113 92
═══════ ═══════

8b. TRUSTEE REMUNERATION

In accordance with the Birmingham City Students’ Union Memorandum and Articles of Association, salaries totalling £98,455 (2024 - £108,029) were paid to the Sabbatical Officers that held office for the year for the representation, campaigning and support work they undertake as distinct from their Trustee responsibilities. Of this amount, £48,788 (2024 – £61,060) was split between the two (2024 – two) Sabbatical Officers that held office for the full year and £22,376 (2024 – £41,455) was split between the one (2024 – two) Sabbatical Officer that held office until the end of June 2025. A further £5,060 (2024 – £5,514) was split between the five (2024 – three) Sabbatical Officers that held office from July 2025 only, and £2,338 (2024 – £nil) was split between the one Sabbatical Officer that held office from November 2024 only. In addition, £19,893 (2024 – £nil) was split between the one Sabbatical Officer that held office to the end of May. During the year pension contributions of £nil (2024 - £nil) were made on behalf of no (2024 – none) Sabbatical Officers.

No Trustees (2024 - no Trustees) were reimbursed for out-of-pocket expenses in connection with their Trustee duties. Sabbatical Officers are reimbursed some expenses, but these expenses are incurred by virtue of their role as executives, not in relation to their role as Trustees.

Page 23

Docusign Envelope ID: A46FF6D6-4572-4DE9-86A6-F3C514F6B345

BIRMINGHAM CITY STUDENTS’ UNION

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025

9. NET INCOME

The net income is stated after charging / (crediting):

----- Start of picture text -----
|||| |---|---|---| |2025|2024| |£|£| |Depreciation|34,603|51,266| |Auditor’s remuneration – statutory audit|16,850|15,150| |Auditor’s remuneration – non-audit services|4,400|3,450| |═══════|═══════| |Auditor’s remuneration includes irrecoverable VAT.|

----- End of picture text -----

10. TANGIBLE FIXED ASSETS

----- Start of picture text -----
|||| |---|---|---| |Fixtures,| |fittings and| |equipment| |£| |Cost| |At 1 August 2024|959,698| |Additions|3,813| |Disposals|-| |───────| |At 31 July 2025|963,511| |───────| |Depreciation| |At 1 August 2024|893,858| |Charge|34,603| |Disposals|-| |───────| |At 31 July 2025|928,461| |───────| |Net book value| |At 31 July 2025|35,050| |═══════| |At 31 July 2024|65,840| |═══════| |11. INVESTMENTS| |2025|2024| |£|£| |Birmingham City Enterprises Limited shares|100|100| |─────── ───────| |100|100| |═══════|═══════|

----- End of picture text -----

The charity owns 100% of the issued ordinary share capital of Birmingham City Enterprises Limited, a trading entity that operates a student lettings agency. At the year end, the subsidiary had net liabilities of £13,388 (2024 – net liabilities of £13,388). During the year, the subsidiary’s turnover was £nil (2024 - £nil) and it made a profit of £nil (2024 – profit of £nil) after gift aid payable to the parent charity of £nil (2024 - £nil). During 2023 the entity ceased trading and became dormant.

Page 24

Docusign Envelope ID: A46FF6D6-4572-4DE9-86A6-F3C514F6B345

BIRMINGHAM CITY STUDENTS’ UNION

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025

12. DEBTORS

2025 2024
£ £
Trade debtors 22,150 16,561
Amounts due from subsidiary undertaking 13,381 13,381
Other debtors 699 3,399
Prepayments 61,153 53,794
Accrued income 14,377 21,456
─────── ───────
111,742 108,591
═══════ ═══════

13. CREDITORS: Amounts falling due within one year

2025
2024
£
£
Trade creditors 154,676
118,538
Social security and other taxes 17,717
14,794
Other creditors 139,743
134,627
Accruals 63,557
68,921
Deferred income 4,198
18,242
Pension liability (note 17) 142,392
129,157
──────────────
522,283
484,279
══════════════
Included in other creditors are funds held for student societies and clubs of:
£
Funds held at 1 August 2024 89,915
Additions 163,948
Withdrawals (156,640)
───────
Funds held at 31 July 2025 97,223
═══════

Deferred income relates to receipts for marketing and events taking place after the year end.

13a. CREDITORS: Amounts falling due after more than one year

Pension liability (note 17) 2025
2024
£
£
1,318,566
1,417,224

Page 25

Docusign Envelope ID: A46FF6D6-4572-4DE9-86A6-F3C514F6B345

BIRMINGHAM CITY STUDENTS’ UNION

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025

14. RESTRICTED FUNDS

14. RESTRICTED FUNDS
1 August Incoming Resources 31 July
2024 resources expended Transfers 2025
£ £ £ £ £
Restricted capital funds
University refurbishment grants 20,607 - (12,218) - 8,389
─────── ─────── ─────── ─────── ───────
20,607 - (12,218) - 8,389
═══════ ═══════ ═══════ ═══════ ═══════
Restricted revenue funds
Student Experience Projects 1,036 - - - 1,036
Widening Participation 28,678 - (10,295) - 18,383
SLTA 1,048 - (1,500) 452 -
School Representatives 20,750 17,875 (31,398) - 7,227
Media Groups 1,139 - - - 1,139
Welcome Desks 3,087 - (1,280) - 1,807
BCU Active 16,341 - (607) - 15,734
National Student Survey 10,661 - (480) - 10,181
Welcome Week 2 - - - 2
Student Engagement 3,000 - - - 3,000
Mental Health 2,026 - - - 2,026
Data Bank 1,200 - - - 1,200
Concept Elevators 197 - - - 197
COL Wellbeing 2023 43,720 - - - 43,720
Cost of Living 27,278 - (7,882) - 19,396
TEF Student Submission 17,788 - (683) - 17,105
BCU Survey Incentive Scheme 11,162 - - - 11,162
Live Events Incentive Scheme 650 - - - 650
Afterline Incentive Scheme 461 - - - 461
Eagle and Ball restart grant 190 - - - 190
Peer Navigator Scheme - 59,498 (36,073) - 23,425
Samsung Voucher Scheme - 4,000 (3,104) - 896
─────── ─────── ─────── ─────── ───────
190,414 81,373 (93,302) 452 178,937
═══════ ═══════ ═══════ ═══════ ═══════

Page 26

Docusign Envelope ID: A46FF6D6-4572-4DE9-86A6-F3C514F6B345

BIRMINGHAM CITY STUDENTS’ UNION

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025

14. RESTRICTED FUNDS (continued)

RESTRICTED FUNDS – PREVIOUS YEAR

1 August Incoming Resources 31 July
2023 resources expended Transfers 2024
£ £ £ £ £
Restricted capital funds
University refurbishment grants 32,825 - (12,218) - 20,607
─────── ─────── ─────── ─────── ───────
32,825 - (12,218) - 20,607
═══════ ═══════ ═══════ ═══════ ═══════
Restricted revenue funds
Student Experience Projects 1,036 - - - 1,036
Widening Participation 28,678 - - - 28,678
SLTA 1,048 - - - 1,048
School Representatives 9,800 30,100 (19,150) - 20,750
Media Groups 1,139 - - - 1,139
Welcome Desks 3,087 - - - 3,087
BCU Active 16,341 - - - 16,341
National Student Survey 10,661 - - - 10,661
Welcome Week 2 - - - 2
Student Engagement 3,000 - - - 3,000
Mental Health 2,026 - - - 2,026
Data Bank 1,200 - - - 1,200
Concept Elevators 197 - - - 197
COL Wellbeing 2023 23,607 50,000 (29,887) - 43,720
Cost of Living 3,021 35,000 (10,743) - 27,278
TEF Student Submission 17,788 - - - 17,788
BCU Survey Incentive Scheme - 13,795 (2,633) - 11,162
Live Events Incentive Scheme - 650 - - 650
Afterline Incentive Scheme - 6,500 (6,039) - 461
Eagle and Ball restart grant 190 - - - 190
─────── ─────── ─────── ─────── ───────
122,821 136,045 (68,452) - 190,414
═══════ ═══════ ═══════ ═══════ ═══════

The purposes of significant restricted funds are set out below:

Restricted capital funds relate to University grants for the purchase and refurbishment of fixed assets. Once applied, the funds will equal the book value of the related assets and will reduce as they are depreciated.

The Student Experience Project funds are for projects to investigate how students’ experiences at the University can be improved.

Widening Participation fund is to widen participation amongst all students in extracurricular activities to enhance their educational experience.

SLTA fund is to recognise staff and students who have gone the extra mile to provide services and improvements to student experience.

The School Representatives fund is for facilitating the link between students and the University, ensuring that students are able to have their voices heard at all levels of the University.

The Media Groups fund is for development of the media groups in order to achieve the target set out in the development plan.

Page 27

Docusign Envelope ID: A46FF6D6-4572-4DE9-86A6-F3C514F6B345

BIRMINGHAM CITY STUDENTS’ UNION

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025

14. RESTRICTED FUNDS (continued)

The Welcome Desks fund is for increased capacity and reach of welcome desks targeted at campuses with low student engagement with the Students’ Union.

The BCU Active fund is for the Sports England funded initiative to get students participating in more physical activities.

National Student Survey fund is to encourage student participation in the survey.

The Welcome Week fund is for the delivery of an enhanced Welcome Week offer, including the recruitment and remuneration of an institution-wide Welcome Team.

Student Engagement fund is for improvements in service delivery to encourage engagement amongst students outside of the learning and teaching curriculum.

Mental Health fund is to raise awareness and educate students on the stigma attached to mental health, collaborating with external companies and charities who support students suffering with mental health illness.

Data Bank fund is to create new ways of engaging with the student community at BCUSU.

Eagle and Ball restart grant is for making improvements to encourage customers back, and to improve services and health and safety post Covid.

Concept elevators donation is to be used for art supplies, materials, and facilities to enable students to produce artworks for hoardings on university grounds.

Cost of Living is to support students through the cost of living crisis including rising food prices, food prep spaces, library opening hours, and other financial support.

CoL Wellbeing 2023 fund is to support students feeling the pinch of COL by giving them money to help with mental health, food vouchers or money towards society and sports activity and to support additional BCUSU staff to put on events with a COL focus and increase the capacity in our advice team to help students with financial enquiries.

The TEF Student Submission Coordinator is a grant to fund the position to lead on the student submission including on costs.

BCU Survey Incentive Scheme is to pay for incentives to get all non-final year students to complete the internal end of year BCU Survey.

Live Events Incentive Scheme is for student-led societies to bid for funding and/or subsidise activities to engage students and improve their on-campus experience.

Afterline Incentive Scheme is to pay for incentives to encourage students to complete the market research on student experience used to inform BCUSU and BCU strategy creation process.

The Peer Navigator scheme is a collaborative workstream of the university's Access and Participation Plan, which was revised in 2025. It aims to provide peer-to-peer support for level 4 students studying in specific courses which have lower than average continuation rates.

Page 28

Docusign Envelope ID: A46FF6D6-4572-4DE9-86A6-F3C514F6B345

BIRMINGHAM CITY STUDENTS’ UNION

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025

15. UNRESTRICTED FUNDS

UNRESTRICTED FUNDS – PREVIOUS YEAR
1 August
2024
Incoming
resources
Resources
expended
Gains/
(losses)
Transfers
31 July
2025
£
£
£
£
£
£
Unrestricted funds
Designated funds
Strategic Investment
fund
-
-
-
-
150,000
150,000
───────
───────
─────── ─────── ─────── ───────
Unrestricted funds:
General fund
1,067,304
3,806,988
(3,450,943)
- (279,635)
1,143,714
Pension fund
(1,546,381)
-
(82,876) 39,116
129,183 (1,460,958)
───────
───────
─────── ─────── ─────── ───────
(479,077)
3,806,988
(3,533,819) 39,116 (150,452)
(317,244)
───────
───────
─────── ─────── ─────── ───────
Total unrestricted
funds
(479,077)
3,806,988
(3,533,819)
39,116
(452)
(167,244)
═══════
═══════
═══════ ═══════ ═══════ ═══════
Restated Restated
incoming resources
1 August resources expended
Gains/		 31 July
2023 Restated Restated
(losses)
Transfers		 2024
£ £ £
£
£		 £
Unrestricted funds
General fund 995,108 3,480,275 (3,284,555)
-		 (123,524) 1,067,304
Pension fund (1,385,959) - (123,524) (160,422)
123,524		 (1,546,381)
─────── ─────── ─────── ─────── ─────── ───────
(390,851) 3,480,275 (3,492,929) (160,422)
-		 (479,077)
═══════ ═══════ ═══════ ═══════ ═══════ ═══════

The Strategic Investment designated fund has been established by the Trustees to support strategic initiatives to be undertaken by the Union over the coming years.

16. ANALYSIS OF GROUP NET ASSETS BETWEEN FUNDS

Restricted Restricted
capital revenue Unrestricted
Total
funds funds funds funds
Current year £
£		 £
£
Fund balances at 31 July 2025 are represented by:
Tangible fixed assets 8,389
-		 26,661
35,050
Investments -
-		 100
100
Net current assets -
178,937		 1,124,561
1,303,498
Long term liabilities -
-		 (1,318,566)
(1,318,566)
───────
───────		 ───────
──────
Total net assets at 31 July 2025 8,389
178,937		 (167,244)
20,082
═══════
═══════
═══════		 ═══════

Page 29

Docusign Envelope ID: A46FF6D6-4572-4DE9-86A6-F3C514F6B345

BIRMINGHAM CITY STUDENTS’ UNION

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025

16. ANALYSIS OF GROUP NET ASSETS BETWEEN FUNDS (continued)

Restricted Restricted
capital revenue Unrestricted
Total
funds funds funds funds
Previous year £
£		 £
£
Tangible fixed assets 20,607
-		 45,233
65,840
Investments -
-		 100
100
Net current assets -
190,414		 892,814
1,083,228
Long term liabilities -
-		 (1,417,224)
(1,417,224)
───────
───────		 ───────
──────
Total net assets at 31 July 2024 20,607
190,414		 (479,077)
(268,056)
═══════
═══════		 ═══════ ═══════

17. PENSION SCHEMES

Students’ Union Superannuation Scheme

Birmingham City Students’ Union participates in the Students’ Union Superannuation Scheme, which is a defined benefit scheme whose membership consists of employees of students’ unions and related bodies throughout the country. Benefits in respect of service up to 30 September 2003 are accrued on a “final salary” basis, with benefits in respect of service from 1 October 2003 accruing on a Career Average Revalued Earnings (CARE) basis. With effect from 30 September 2011 the Scheme closed to future accrual.

The most recent valuation of the scheme was carried out as at 30 June 2022 and showed that the market value of the scheme’s assets was £106,700,000 with these assets representing 44% of the value of benefits that had accrued to members after allowing for expected future increases in earnings. The deficit on an on-going funding basis amounted to £136,600,000.

The assumptions which have the most significant effect upon the results of the valuation are those relating to the rate of return on investments and the rates of increase in salaries and pensions.

The Scheme is subject to a revaluation every three years with the last valuation being performed in June 2022. The 2022 valuation recommended a monthly contribution requirement by each employer expressed in monetary terms intended to clear the ongoing funding deficit by May 2037 and will increase by an average of 5% from 2022.

These contributions also include an allowance for cost of the ongoing administrative and operational expenses of running the Scheme.

The total contributions paid into the scheme by the Union in respect of eligible employees for the year ended 31 July 2025 amounted to £129,183 (2024 - £123,524) including funding deficit contributions of £129,183 (2024 - £123,524).

Deficit contributions

Annual
Contributions payablein 2025/26 (5%increase) £137,249
Contributions payablein 2026/27(5%increase) £144,112

Where the scheme is in deficit and where the company has agreed to a deficit funding arrangement the company recognises a liability for this obligation. The amount recognised is the net present value of the deficit reduction contributions payable under the agreement that relates to the deficit. The present value is calculated using the discount rate detailed in these disclosures. The unwinding of the discount rate is recognised as a finance cost.

Page 30

Docusign Envelope ID: A46FF6D6-4572-4DE9-86A6-F3C514F6B345

BIRMINGHAM CITY STUDENTS’ UNION

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025

17. PENSION SCHEMES (continued)

Students’ Union Superannuation Scheme (continued)

PRESENT VALUES OF PROVISION PRESENT VALUES OF PROVISION 2024
£
129,157
1,417,223
───────
1,546,381
───────
Period
Ending
31 July 2025
£
1,546,381
82,876
(129,183)
(39,116)
-
1,460,958
Period
Ending
31 July 2025
£
82,876
(39,116)
-
-
43,760
2025
Present value of provision
£
Pension liability due in a year
142,392
Pension liability due after a year
1,318,566
───────
Present value of provision
1,460,958
───────
Reconciliation of opening and closing provisions
Provision at start of period
Unwinding of the discount factor (interest expense)
Deficit contribution paid
Change in assumptions
Remeasurements-amendments to the contribution schedule -
Provision at end ofperiod
Statement of Financial Activities impact
Interest expense
Remeasurements - impact of any change in assumptions
Remeasurements - amendments to the contribution schedule
Contributions paid in respect of future service -
Costs recognised in income and expenditure account
Assumptions
31 July 2025 31 July 2024
% per annum % per annum
Rate of interest
5.6%		 5.2%

The discount rates shown above are the equivalent single discount rates which, when used to discount the future recovery plan contributions due, would give the same results as using a full AA corporate bond yield curve to discount the same recovery plan contributions.

Page 31

Docusign Envelope ID: A46FF6D6-4572-4DE9-86A6-F3C514F6B345

BIRMINGHAM CITY STUDENTS’ UNION

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025

17. PENSION SCHEMES (continued)

The National Union of Students Pension Scheme

The Union also contributed to a defined contribution pension scheme in the year: The National Union of Students Pension Scheme. The assets of this scheme are held separately from those of the Union in independently administered funds. The pension charge represents contributions payable by the Union to the scheme and amounted to £32,890 (2024 - £33,664). At the year end, £nil (2024 - £nil) of pension contributions were outstanding and included within other creditors.

18. RELATED PARTY TRANSACTIONS

Birmingham City University is considered to be a related party due to the fact that President and Sabbatical Officers of the Students' Union are members of the Council which is the governing body of the University.

Birmingham City University provided £1,800,000 (2024: £1,414,000) of block grant funding to the Union during the year, together with top-up funding of £Nil (2024: £85,000) and other grants and additional project related funding of £Nil (2024: £13,795).

Birmingham City University also provides serviced accommodation to the Union under a lease agreement with an equivalent amount provided as an accommodation grant under the agreement. The value of this lease rental and related accommodation grant in the year was £619,650 (restated 2024: £619,650) and this is included as both income and expenditure in the current and prior year.

Other income also received from Birmingham City University consists of:

2025 2024
£ £
Parkside art material purchases 3,998 6,374
Catering 27,399 17,596
Vouchers spent in shops 3,788 3,577
Open day outlet 2,000 3,981
Department hoodies 309 387
Other 300 -
Other expenditure incurred with Birmingham City University consists of:
2025 2024
£ £
Printing/photocopying 2,373 3,040
Catering - -
Repairs - 255
Other 100 -

At 31 July 2025 an amount of £18,555 was owed to Birmingham City University (2024: £3,789) and £13,530 was due from Birmingham City University (2024: £3,112).

At 31 July 2025, the subsidiary company, Birmingham City Enterprises Limited, owed the charity £13,381 (2024: £13,381).

Page 32

Docusign Envelope ID: A46FF6D6-4572-4DE9-86A6-F3C514F6B345

BIRMINGHAM CITY STUDENTS’ UNION

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025

19. COMMMITMENTS UNDER OPERATING LEASES

At the 31 July 2025 the charitable company has total minimum lease payments under non-cancellable operating leases as follows:


Expiry date:
Within 1 year
Between 2 and 5 years
After 5 years		 Land and Buildings
2025
2024
£
£
856,331
619,650
3,425,324
3,425,324
4,281,655
5,137,986
8,563,310
9,182,960		 Land and Buildings
2025
2024
£
£
856,331
619,650
3,425,324
3,425,324
4,281,655
5,137,986
8,563,310
9,182,960
9,182,960

Under the terms of sub-lease agreement with the University, the charitable company is provided with an accommodation grant from the University equal to the amount of the operating lease rentals applicable for each year.

Page 33