UWE STUDENTS, UNION
ANNUAL REPORT AND
CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 JULY 2024
Company Registration Number 07675253

COLYfETrrrs
PAGE
Trusteeb, Rep)rt
Inde￿ndent Auditor'.$ Repoit to the Members
15
Consobdated Statement of Financial Aetivities
18
Statement of Financial Position
19
Consolidated Statement of Cash Flows
Noies to the Financial State￿ents
21

Trus¢ees' Report
for the year ended 31 July 2024
TRUSTEES, ANNUAL REPOR TFOR MEMBERS
The pleased io present their annual report together with the accounts for the yeax ended the 31 July
2024.
The financial siatements have prepared on the historical c05t bAsis and in accordance with Accounting and
Reporting by CbaEitie5.. Statement of Recommen(kd Practice applicable to charities prep￿illg their accounts in
accordance with the Financial Reporting Standard applicable in the UK and Republic of ThEland (FRS 102)
(effective l January 2019)- {Chatitses SORP {FRS 102)). the Financial Reporting Standard app]icabl¢ in the UK
and Repubbc of Ireland IFRS 1021 and the Companies Act 2(K)6.
Reference & (￿MinIStratIve details
Charity Name:
UWE Srudenls. Union
Company Number:
07675253
Cbarfty Number:
1143067
Princlp41 Office and retstered add￿￿. Fr¢n¢hay Campus. ColdhaJt%)ur La￿. Bristol, BS16 IQY
Key m•na8¢ment personnel: Trustees and Directors:
2023124
2023124
President #
Olure Kolawole Samuel
President #
Olure Kolawole Samuel
Vice P￿sIdent FAlucation # Khath'za Hossai
(Appointed 01107124)
Vice Pffsident Education Sabiha Khan (Re8igned
28106124)
Vice President Sports &
Healih #
Muhammad Habib
IAppoiDted 01107124)
Vice President Sp)rts & Krishna Singh (Resigned
Health #
28106124)
Vlce President Commllnity Lllbyn4 Gardczi
&Welfare #
{Appointed 01107n4)
Vice President
Fayaz Ab(hd Kareem
Community &Welf2re # (Resigr£d 28106124)
Vict President s￿letiCs
&Commllntcation #
Umar Abbasi (Appointed
01107124)
Vice President Swieties
&Communication #
Bethel EkA*tte (Resigned
28106124)
Extsrnal Trn5tte #
Sarah Bolt
External Trustee
Helen Balmer (Resigned
05112123)
Exthat Trustee #
Les Redwood
Studem Trustee
A¢ngus Miralto Desmond
(Rc$i8ned 25106124)
Externaj Trustee
Sarab Bolt
External TTUStee
l£s Redwood

Trustees? Report (Continued)
for the year ended 31 July 2024
The PK¢sident alld Vice President tNStees knld post from the l July of the year they are eleetrd to the 30Juue of
the following year. Elections att held for ehch p)sition annua]ly. The tnJ8tees identified with a # are ¢threctoTh of
UWE Students. Utiion.
Key management ￿rsO￿ne1. Senlor ManAgement
ChiefExecutlve offiL*r'.
Tim BeDfoTd
Michad Bla(ks
NAtionAI Westrnill$ter Bank PIC
72 Gl1x￿eSterR0Id
Bisbopston
BristoL BS7 8BF
Solldtors:
Osborne Clarke LLP
Halo
Counters]ip
BSI 6AT
Sp¢nc¢r West
20 Chiswell Street
London
ECIY4TW
Audltor:
WESTcO￿,s (SW) ILP
80 Oxford Street
Burnham.oTrSea
Somerset
TA8 IEF

Trustees, Report (Continued)
for the year ended 31 July 2024
Slructiire, Goveriiaiice & Maiiageiitent
The Union has a writtcn con.qtitution th￿ wa5 approved by the Board of GovErnor8 of the Univer8ily of the Wes1
of England on Ihe 31 January 2012.
UWE Students, U￿0￿, a compaDy litnited by guarani¢e. was inLOtwraied ()n the 20 June ?01 l and i'egistcrcd
with the Chatily Commission. The UnivD moved from its tLaditional Unincorpotated AsswiatÈon m(Klel whieh
had served it in the past. to become inc0￿rated in(0 a Company Limsted by Guarantee - a model which more
suitably serves the mulii-million pound organiution that the Union is today. The entire a.4seis, liabilities and %t&ff
of the previous unincorporated association were transferred to the new charitable company on the 311uly 2011.
The i[￿Orporated d￿tY has company numEer.' 07675253 and IEgistered charity number.. I]4￿7.
Apwintment of Trustees
Up to fivc Officcr Twstees bhall be elected by secret ballot by the rnernbeThN ot UWESU. In ad(lition up to two
Student Trnsiees. one Alumni Trustee and four External Tru8tce.% shall be appointed by the Appointments
Conunittee. These appointment¥ do take effect until they have been ratified by ihe Student Council.
Trustee Induction & Tr#fiDSng
The Officer Trustees al-e givcn extensive in house training and induLtions ￿ well atiending relevant external
and NUS run couThes in the initittI three month.% of their period of office. The Studeni and Extrrnal Tn]stees are
offe]Yd the opporrunity to g() on .suit&ble NUS or other extrrnal irustee tiaining Lourses.
Urganisation
The Union has a Studeni Councll ihar is the main Irgular tnechani5ffl lor members to make their vicws known io
the Union. All the elecied olli¢er5 members of the ExeLutive Committee which act5 in ilK ab5enLe of Student
Council. In addilion there are lour committres Ih4t focus on distinct areas of activlty, namely the Student
RepTesentAlive C.()mTll1t￿t, .SpnrL% Committee, Community & Welfare Commitiee and Societies &
CummuniLaiivn Cununittee. Strategic decibions and the setting of the Union's budget are made at the quarterly
meeting.% of the Bodrd of Ti'ustees. The implefflentsuons of those decisions are caiyicd out by Lhubtt TJubtee.s wlio
are appointed to attend the monthly meeting5 of tlie Finance & General Iljrposes Cornmiitee and the Stsff
COmn￿lree. The day io day management of ihe Union is the responsibility of the.Eenior mcmber nf staff, the Chief
Executive OffAcei'.
Related Parties
The Union receives a subsiantial part af its income from the University of the Wesi ot Engl4nd Bristol and
therefore has a close working relationship with the University to enable ihe Union tu besi carry out its objective5
and aLtivitseb.
Key Management Personnel remuneratlon
The Union's key managernent personnel aiE listed in note 22 of the account5. The dtiectors consider thc board of
directors. who are ihe charity's trustces. and the seniorrnanagement team ¢omprise the key managetnent personnel
of the charity in charge of th"recting and ¢onirolliDg. Lijnning and operating the chaIity on a day to day basis. A
number of diTrctors give their time freely and rexeive no remuneration. Detsi15 of directois, expenses and related
party transactson5 pre detailed in the a￿ount￿ noies tylow. The seJ)ior saLary p￿lY grades ore benclllnarked against
the UCEA standards on a 3 yw. basis. The nexi review is due in the Unions 2023124 Iinancial year.
hiipsJ/www.ncvo.org.uklimagesldociim¢nislabout uslour-fAnanLes-IL nd-paylExecutiveJay_Report.pdf
Rlsk ManAgement
The Union ha5 examined th¢ mJjor strategic. business and operational risks and has put in place a Ri8k
Management Strategy and a Risk Re8iSier. These are reviewed quarteLly by both tht senior %taff and the Trustees
of the Union and wher¢ approptiate systems 01 procedures have implemented to rnitigatr the risk% the Union

Trustees. Report (Continued)
for the year cnded 31 July 2024
face5. In addiiion pttKedures aJ'¢ in place to ensure that the activitie5 of the Union are carried oui with due regard
to the hedlih & safely ot all pJrtiCiPdTIts.
Objectives & Aclivities
The Ariicles of A%%(Kiulion of the Uni()n stste that..
The objects of the Union are ihe advanLeTnenl of education of stuthnl.s at rhe lJniversity of the Wcst of EnglaTKI
for the public ￿ner]t by..
RDtnoiing tho intere.%i% and Welf￿.¢ of btudcnts at th¢ University of the West of England during their
¢ouise of study and rtyprc.%¢nting.-%upporting and advising studcntS'
Being the teLognised repr¢sentativc channel between siudenL% and the University of the Wcst of England
,Ind any vihLI externa] bodie%; and
Pruviding social, cultui'al. 5poiting and recreational activities and tornms for di5¢ussioM% and debate lor
the personal developmeni i)f ils Studcnts.
The principal activity i)f the Union 1.% ro repre.4ent it5 mernbElS and provide appropriate .*rvices. To this e￿1 the
UniL>n oi'gLinises Siiident Repi'escntLilion, rLlll% Lliih5, socieiies and nCt￿.￿l.ks, pri)vides ii n Adi'icc Ccnire. Job
Shop, Nursery, bars, shops and cnteitain]nent5. The commercial activities fL provided through the Union's
subsidj'arj, UWESU Sei'vices Limited.
When reviewing our objectives and planning Qui. activities we have given due consideration to the Ch&rity
Co]nmi55ion's general and relev¢int supplemenrary guidance on public benefit.
Achievenieiits & perforinwice
li h11.% been tL?ntlSllL vcar of cnts1L oemcnt nd .%uppori far ollr member8. Th¢ liiehlighis below Lover a¢llVlties
ovcr the yedi dLmun8trdiino the hugc effui'i 4Triid profe.%siondlism sliown by PresidLntts' and slaff. A giEJl thanks
f()r the Ptc.4idcnis and tsiaff ILdm is duL thi% y¥ai' wiih.SUPLtb enttagemeni ancl IEPI"csentalion liapi￿nin0 aLIO%
all CttTnpube.4.
Drivlng sllstalnable Change-
SCo￿d 98% in the Green ImptiLt AcLreditaiion. rciaining 'Exccllent' i"&lting f￿ the 8th year in a row, and
winning ihe Highest Scoring Studcnts, Union A ward in rhe Lallntry for the 7th Ye￿4 .
Su5¢￿1]nable period.% ￿nd tackling ￿riod poverty 47t every campu.% %ite
Giiren oui oi'er 54Qlo more free Feriod products.. oi'er 30,0(M) free, qinole-ii%e il nd pla%iic-ffec menstruttl
products., ddding an dddiiional 24 locaiions you carh colleLt {￿e product% from.
Gave away 24% iiiure reu%uble F￿[lud produLLS". 360 SLudents' and 3U suff m¥l)Ibers luok Piirl in our
busI￿n￿bIL ￿[lod pi"oduci trial, )Tceiving a fire product (such as a mcnstrual cup. Ftriod pLnts, or
rcU%￿b]e sunit￿ry towel).
Saved Students a totsl of £8.323 in upfront costs in switching to ti greener option
We estiiiiaie a saving of 5,817g of plastic per year. If students carried on using thcse products over 5
yeiifb, then t]ll"s would mean 29.085g of plastic savcd over thi8 lime.
Placement Uniform Swap Shop at Glenside
Providing additional f￿£ unifotm to UWE students on placemen(I
59fj Studcnt% hav¢ used tlii% .%ervice. this is an increase of 15Q sLudenlS frorn rhis tirne las( year, %aving
studenrs a ma.58ive £6,354.8R.
.1 was bo stressed about %tarting my placement wiihoui uniform. you've really saved rnel.
Community Cornei. £lt Bower Ashton
Launched in January 2024, given out a tThinm)um of 234 items of clothing from our pemianeni swap
shop, 288 condoms, 980 cups of tea and 5(K) cups ot" coffee
We saved siudents approximately £2864 on hol drink8 alonc in this time
Siuden( feedback'this is the besi thing to ever hapErn to Bower..
LaunchL"ng the new Climate Educdtion Module in partnership with UWE Bristol, re¥ponding to student
demand for more visible cliinate change edutatlon.

Trustee5' Report (Continued)
for the year ended 31 July 2024
Representing the student voice-
The Advice Service supporied 9a1 new studcnls this aLademic year,. the two highest categories remai
Lademic {47%1 with h¢ilf of the cases relating to asse￿.￿ment iiffertce%, and accommodation 112Qhl. with
internation411 students looking for JLcommodaiioii the highcsl %uh Inattcr.
Successfully audited by the Advice QuJlity Stand£wd IAQSI, ensunng wc achieving key %iandards
iihin policies and praciices.
The Advice Service offers support to student% in person dt FrenLhuy. Glenside and Bowcr. &5 well as
virniolly.
In partncrship wilh the LIWE Studeni Voice and AcademiL PoliLy Team. we bhowcased ihe brilliant rolc5
%tudents undertake alongside their studies, fi'om.%upporting their peers. w0￿1ng in partnership with slaff
and providing feedback. 22.stttdents parllcipatedov¢rall (presenting & posters) and 125 staff and students
aiiended.
318 students joined the Student Consultation Panel- giving.%tudcni an oppfirtunity to provide feedback
and create change at UWF..
46 upp011unitie.% WCLI. LLkcn up by studeiits thrvugli IhL Studeiii Con%ultaiion Panel. Studcnt% gave
fcedback ond %hLiped ihe joumey of the Drugs and Alcohol Hai'm Reduction University Policy through
lu dei'elopmeni and rvll c)ut ()t thL CLIIIMY .41ci"1 .4pp
Student Rep5:
816 Siudeni Reps Signed up, 585 rrained. 71 % ttaining rate
Lead School Reps- 24 reprc.$cnt students wiihin the 10 schools.
We hosted thi'ec Student Rep Cottrrittees bringing together 170 students rcp.4 to discuss acadernic issu¢5
and gain feedback fi'om students.
Election8'.
37 candid¢llLS sI￿j for 10 role% in the MLifLh SILILlvnl%' LliiJi>ii EleL(ruiJs
4,950 indifvidual v(Iier.% Ci141 ?5,n7• i'nie%- iiirnout l 3.7n%
The Studcnt Experience Awards:
This year'4 Student Experience Awth'ds honour all a5￿cL￿ uf liftt di UWE, lii)Iii aLddtJiiics to Loniiiiunity
involvement. We received 576 nominations presented 15 awards ranging from 'SLudeRt EnvJronm¢nial
Champion. to 'OutsLinding Teaching Award..
Impact on wellbelng and Melfare-
c.ost ofLiving c.ampaign
CoinTnunity L£iFders'. WL gave oui £5,800 worth of free goods lo oui. siudent cotntnunity
Bring Youi. Own Cup SLlILme'. we havti providLd 13,250 fl.ee Iiut di'iJik% aiid sai'cd.%iudenis L33,1?5.11
Free Mcal%.' Wc have hLlnded out 18,51X) frec hot rnCl¢ Is Pcirt of our Lo%t of living suppurt 10 siudeni¥
Provided £50 %hop on c￿tT￿pu.￿ and 12 monthly bu.s passe.8 to those siudcnt% suffering shnll iemi financilll
h4￿dship through our Advice Cenire workj'ng with the UWE Money Service.
Drugs and Alcohol Harrn Reduction
UWE Brisiol and The Students. Unicm received the Drugs and Alcohol Ilnpaci accrcditation for a second
time.
The PELrther.%hip h&% received a score of 92%, refleciing the hard work to drive foNard a harrn reduLtion
policy and culture llcross all operlitiollb and the %tudcnt eAt￿[]enCe.
Key projects and initiatives that wcre celebiatcd in thc audit this year were our full lime Drugs dnd
Alcohol Practitioner Becky Ri.%lcy being in rost, the ts'ttining of 450 siudents a5 part of theii spott5
elublsociety and our newly launched harm reduction cttmpaign.
Accornm(Kl&iion F&1¥
Over 4(K) studeT]t5 attended Il)e fair and talked lo representatives frotn local aLcommixkntion agencies as
well a5 getting top tsps for rcnting via talks run by the Advice Centre ￿arn.
Ments] Health Campaigns
En8agTed 700+ students in our new Mental Health and Wcllbeing Festival
500 exarn destre55 bags given OUL 10 siudenls in exam ¥e£Trson all I campu.% site

Trustees, Report (Continued)
for the year ended 31 July 2024
43 5tudent5 benefiiied from a 'MentJl He4ilth in Sport, workshop, in collaborats.on with Student Minds
The Student Wellbeing Champions ran a Destress and Loneliness ¢ampuigD in March 2024 engaging a
total of 45 btudenls.,
'Thank you for making me tcel sn wclcome. l ellme by myself and was a￿[lOU8 but have had a great
time.
Sexu21 Heaitb Campaign
We l)ave given out 4,320 free CondO￿S to sludenls
Tetrence Higgins TLUSt have made 8 visits to campus si(es for awJrene55 5taLls and offered free STI
testlng.
s￿letse5 and Swjrts ClulL%
128 aclive Societies and 46 Spoi( Clubs. with a toul membership of 7.878.
3000 s￿rts Club member.s for thc first time
American loDtball l 8t icam wcre undefeated thi.5 8eSL%on, winning ihe National charnplons￿p for the 3rd
year in a row. beaiing Durham University 55-0
Volleyball Men'5 First Team and wom￿,.* first team won he cOnfere￿e Cup
CongratulJtionb Iv our goll'nuxed I s( team for wijininiy the Western tier ?B leaglle. with our second ieam
in a close 2nd place.
A huge con8rntulaiions (o Ultinmte Frisbee Men's First Teafft who have finished theiL season top of the
WesLetn tier 2 league.
Congratulations to both squash Men's and Women's First Team b¢ing b*lLk-io-back champions of the
National premier lettguc%.
The fvll vollcyball team had a fantastic sekL%on winninR (ill 7 of iheir league fixtures and finishing top of
Ihc Wcst¢rn 2B leaguc.
Our squash Nlen's qecond teic m h£2d ll fantdstlL sedS011 wiRnin¥ IlJ¥ Wv%l¥TT) ii¥i I Itagut witl) a hugc 185
inib. aTKI 10 wins out i)f 10
Th¢ Men's Fii"st volleyball team had a fantastic sedson winning all 7 of theiileague fixtures and finishing
top of Ihe Web￿rn 2B ledgue
The %qua%h Men'5 Third TeaTn continued the greai season for the squash club by finishins top uf the
tli hle. nf ihe We..%tern tier 2R league
Commitiec training forthc 24125 academic ycar htis changed formatto bring 211 cornmil￿e memiyrs into
E)ur Building and 10 deliver key work.%hops including from UWE siakeholdet&' around Anti Sexual
Vi()l¢ncty, and Drug and AILohol Harm Rcduction %e55ions.
Thi5 year our Mens Football Club have worked with the Community Tcam io crellte sfKial media content
for anri.sexual i'iolcnce ii'eek, challcnging thc 'bo)'s ivill bc boys, narraiive.
Thi¥ yeat our Womens Cricket Club have worked Closely with The Siudents, Union and UWE Bristol
Sport to enhance our offering lor womens cricket pl&yers by CiE(iting a partnership with Bristol
University to ensuie an oppc>iiunity tor studenis to compete cO￿￿titiVelY and ensurc a sustainable
option for future ye￿5 of delivery.
Women in Engineering. Science al￿ Technology held an ¢x¢iting event to celebrate diversity in their
field of study. The EfflpowerheL' eveni invited swakers frorn Aitbus, Boeins and Rolls Royce io talk
bout their experiences as women in a largely male doMi￿ted field.
Empowering our diverse student community
Li￿ratiOn Campaigns
7,480 pronoun pin badges given out thi5 academic year.
Our wrap up Instagram post from Black ￿'stOry Month received 123 likes and 2 comments and our
Instdgratn Rel of the hall of fatne received 159 likes and 11795 views.
40 NFI Societies wilh a meMbe￿hIP of 1611. a small in¢reose on last year's membership. Key cultuial
events that have b¢en .4upported in their delivery this yeat including.. Hindu Society Garba Nights,
DashaiTrffihar Party. Diwaii, Mallu Night. In dddiiion, ti)ere have been a number of societies meet and
gre¢t events. taking place to support community building ￿l￿OngSt those groups.

Trustees, Report (Continued)
for the year ended 31 July 2024
The Sthdent Expericnte f4und
We worked in p￿tnershiP with the UWE Alumni Team to give out £15.000 in grants to studen[ groups
10 go towdi'd8 cquipment. tJ"ip%, Jrwurces and much rnoi'c to impact Ihc wider UWE student community
SPOTLIGHf." the British Sign Language S(Kiety enÉag¢d 94Q eduLation and healthcare studeni.s in a
deaf awatenes& Lourbes led by the (kaf cumrnunity and tunded by the.%tudent expcrience fund.
Fnsher's
We held a Fresher's week with a great ex￿rienCe for all students. The fresher's coniribution plan for 23124 was
to make a pre-management charge break<vcn which we achieved wilh a pre-chatge surplus of £85 a p)st
charge deficii of £34,4()6122123.. £11,898 Deficit). Wc arc targetino a £4,000 pir-chLf(Te surplus for 24125.
Going Concern
The Balance Sheet as at 31 July 2024showed a net a%.%et position of of £682,794 and for 22123 a deficitof £966,592
after paying off a pension dcficii liabilityjusr under £2m on a mulii<mployer pension Scheme in the accounts. In
consi(kring the going conccrn basis, the Twbiees con%ider the cornpany reiains suffiLieni working capital ts)
continue trading for ihe nexi 12 monihs based an evidcnce of lonb ierm posiuve Lash tlows and improving
commercial trade more ihan adequately covering the increase in pension liabiLity payments. Reserves excludLng
the pension liability are eontinuing (o increase with le.8s funds iT) a restricied capacity. UWESU also in
Consis￿￿[ discussions with LWE and in particular ihe DireLtor of Finance moniloiing the Fcn5ion's position both
present and future. Thebe asburanceb are iEinforced wilh ongoing finanLial 5UPPOrt options that out i"elated party
Universiiy have pi"ovided in thL wake uf (he impact of (he global pandemiL. Given the recent pandeimic the Union
is also perfomLinbT regulat %tress (e5ting on commercial &ile% dnd Lonv¢rsion to contsibuiion and have moved
policy io review and siEn of budgets 10 J Qu￿terlY basis rdihei. than bi-annually. Wc also monitoring and
reviewing Nursery occupancy and policy on attendance io ensure prudeni laboui. planning. Thc cornpany cash
flow forecasting will be coii&istentty completed for a minimum of & 12 month period and will rern￿n under
monthly iekiew. The h￿￿rd theref()re feel it appr(Jpriate to prepare the a¢counls on a going concern basis.

Trustees, Report (Continued)
for the year ended 31 July 2024
riiiaiicial review
The Union has ma(k a surplus of £1,649,386 of which there 15 a net £1,740.885 positive movement in the nei
pre%ent value of ihe SUSS pension liability. The SUSS pension liability wa8 paid off in full under thc %ection 75
rules resulting in ¢he Lidbilily siepping llp to a i'aluc o1.£2,036,970 before king paid off. This mean% thLt the tNe
¢vmparable positioll ptt-pensIon is a deficit of £91.499122123.. £86.463 deficit) v.% ttn oilginally budgeted £50,0
5uiplus position.
The principal funding souiee% are the Block Grant from ¢he University of £2.020.000 and the income raised by
the individual clubs. S￿letIt.￿ and networks. There was aone off increase in the overall Blwk Grant of £1,984,130
during the year and removing thi% factor there was a nct £90,OOQ increase on the grant year on year.
Capital exFenditure of £88,832 wa% largely made up of our cxpected annuts] replacements for o notmal tradiTJg
year. We expect the annual addition.% 10 continue at atound £1 ￿,000 per annum with the excepiion of any use of
our designated reserve of £2(K),000 for the next 5 yea[%.
The sent lev¢1 of funding is suffi¢ient to support thc charity's activities and thc TnJstee% consider the financial
PO8ltion of the Union to be gnod.
The Union has ￿1 pre-pension suiylus budgei for2024125 o1.£50,(￿O. The budget includes prudeni as%umpuons
round trading sales given the ongoing global cconomic issues and the unguints Lhanges to Dursery NEG funding.
REVIEW OF TRADING sifBS]DtARY
The trttding sub.sith'ary, UWESU Services Limiied. was set up ar the end ofJanuary 2012. The totsl turnover for
the year to 31 July 2024 W<lS £2,624,667 (22123.. £2,854,745) and the burplu5 01" £12,872 (2Y23.. £170.9061 WdS
dnni?Icd tn IJWF. .£tudenL%' lJnii)n (ITr leave re.*rves of £1. The as5eis of thc coinpaiiy are stock, debtor5 and cash
&nd Ihc main creditor of thc Gompiiny Was Witli UWE Studenis, Union. The principal activity of the company
wab the running ()( bdrs, enteitainments, shops dnd ￿her comme￿￿1 activities.
RESFRVF.S POI.ICY
A.% ￿ sensible and professional organisauon, we feel ]( is important to keep sume IILOJlle% lielJ iii IEseive. Tliele
rnoni¢s either held to meei known future circumstance& meet unloIeseen LirCumsta￿t5 or for a 4iiuation
where we need to wind up the orgllnisation.
As we are a membership organiz*itioD. we believe (h&1 in edch year the majority of the income received by the
Union Should be spent in providing services to our members. However, it is prudent for us to budget tu rnake il
small surplub each year to en%ui"e that we live within our means. This should rnean that we will develop a reserve
thai can Ihen be used in future years.
The Union Lun'ently holds £682,794 in its Ir$e￿e.% {22123.. £774.293 excl SUSS), £63,919 in restricted ￿ndS
122123.. £95.8801, £2¥8.196 in the unre.8u'1c￿d funds {2Y23.. £372,950) and £330,679 in the designaied funds
122123.. £305,463). However £408,469 of those resei'ves *￿e held as tangible fixed asscts. {22123.. £528,715) and
are thu% not easily converted to usable Lilsh.
General funds
Gererdl funds are the general reserves not imTnediately ffquired for any specTfic purpobe, The SU at UWE TJeed8
io hold getjeral reserves in order.
to provide working Capital.
to allow The SU at UWE to provide continuiiy of service if income levels were to fluctuate, thereby
giving time to seek new SoU￿eS of revenue or io reduce costs.
io allow The SU ai UWE to providc continuity of service if it had to cop¢ with increases in eXt￿nditute
that Could not be accurately forecast;
to ensure that in the worst possible circumstances it would be possible to ptty all creditors and wind up
the organi5ation.
io

Trustees, Report (Continued)
for the year ended 31 July 2024
Th¢se fund5 should bc built up and held at & minimum level of £400.(KMI.
Designated funds
The Union Main￿1n5 a fund foi. the i"eplacemeni L)f the capital a.%scts nf the Union in ihe normal Lourse of lis
activities. Following ihe significJnt inove Jn 2015 1() Ihc U Block SU building thc.%c reserves should re-instated
to a minimum of £200,()011 by 2020. which has been ttehieved.
As p>Jrt of t￿ agreement with the University on the setting up of the Hll]ley Nursery it was agreed thar (he funds
gcn£raied by or required for the rnnning of that nur%ery would be kept in a designaied fund. Tht5 ha5 beerA amended
with an agre£ment to cap the fvnd at 2 ycar.% ri¥k of1ts%s which is £32,IX)O. the remainder would k tyansfejred
back to the SU. The balance in this reserve a8 at 31107124 is £16,Th)0.
The Union ha% agrced that any %urplu.ses generi£ led by individual club¥ network¥ or $l￿leties shall be kept in a
designated fiind ¢ind C4in bc S￿nI hy that cnl.ity in futurc years.
INVESTMENT POLICY
Thekey investrnent objcclive ib to maintain and, where possiblc. grow the value of the Union's designated r¢serves
whilst balancing risk with return. The Union musi always ensurc that there is sufficient cash io meet its upErationJl
needs, but rnust al.%0 obtain the best I'eiurn possible on all dcposiied with oui. banker5. Any ￿ndS nol required
in the.%hort term may then be inVeS￿d in short iemi depagiL% and any funds not need¢d in the medium-long term
can thcn be inve.sted wisely it] longer iem) inves(mentS to generate a greater yield. Funds not needed for short
temj oFrational need8 can be deposited with rcputable iDStitutions. provided that The ii5k rnungs and liJnits agreed
by LI￿ B1)￿lid of Tiu%tec.s aL"e adl)ered to. De￿.11¢s sliould a]way.% &pli( bctw¢¢n UK based in5Ututions with
diffcrent bankinx licenscs, to reduce Ihc ri.%k from in¥tiiutinnal fttilure.
Ai th¢ year-tt]d thL'ru was only one S￿1] invesunent AEindining to (he valuL' uf £6,461 I￿ld witli the NUSSL. The
investmcnt perforniance of the Union's funds is in linc with the objeciives.set by the Trusiees.
RECRUITMENT POLICY
At the Studenis Union we feel it important to cnsuiE that we Lonsistent]y chatienge our recruitment proces5 10
mitigate the effects ot. poteniial discriminaiion. A5 such we huld recruiiment policies ihat erLsure the tolluwing..
Full t2nd fuir Lvn.%id#r£ilftun 10 £ippIiLaliUll% f￿. eiiiployinejil by il)e ¥ompai)y JJi(Ide by di5ablcd persons,
having regard io their particular apiitudcs and abilitie.%.
For continuing the employrnent ot. and loi rearranging appropriate training for those who have ircome
disabled p¢rsons during the period when they We￿ cmployed by the company
To also give full and fail" Lonsideration vf those employees with regai'd to training. carcer dcvelopment
dnd promotion of disabled persons employed by the company.

Trustees, Report (Continued)
for the year ended 31 July 2024
OBJECTIVES FOR 21)24125
We will cot)tinue the pha¥e one elements {f￿uS work strcams) of our 2022-2026 siraiegic plan. This will continue
to shape and provi¢Jc the b&%is for the foiii" key Priorilies and follr key aiEUS of wurk for 2024-25. The graqphic
below highlightf th¢ plan in more detail hiip8'.Ilivww.IhebtULlcnisunion.LO.ukl.%iniegiL-planl
Wo are a ¢ritioal partof studpnt'5 llyos. .,
To represeiil the voi¢e ol the lllll dNersity ol IhE Stside￿I comrniinity, yroYidin£ iiidtpendellt
8dvic¢, ad¥ooacy. life ¢h8llyig aots-yits'es and OPPPOTtuniti8s in order lo positively in4Ja¢t Ihp
sttideNt experience at iWE.
QursiTItv
ai
Wellbeing
gres11I OUT
Tea
Dun
8$wry
lave
we shident.leRd rs. To
e for oiir
data s
lo wceod
ts8mS
¢omrnMk2tiin
Ow values
Our behaviollrs
We putstydeThts fitsl
SU￿Ort1¥e
Empowerini
A2ile
Wo drN8 ¢hafYA8
We are aThfdNersq
We arE cornmittod ID ￿s￿M￿￿11ty
Ci&ati¥B and Fun
In adth'iion we will be aiming to complete a]1 pra¢ticable Pre5idertt Manifesio points and proacts.vely 8howing
progres5 and achievement OD the SU website so students C(In see the achievements atld positive impact of our
elecuon officers, they can be found hiipb'./lwww.Iht51u(knt5ulliLin.Lo.ukl%upportlpiEsidentbl
12

Trustees, Report (Continued)
for the year ended 31 July 2024
The fnllowing subscriprions were p￿d in the year ended 31 July 9024..
ational Union of studentb
British Univerbity & Colleges Sports
£13,653
In addiiion thei"e are 8ub5LIiPlions by some of the 5P011s clubs to Iheii relevant governing body.
Custodlan Trustee
RAG is a studeni led society with the aim of fundraibing for a variet}, ollocal and Th7￿ tional ch1( riiable causes whilsi
providing students with & number of development opportuni(ies. includes fundraising itsclf a5 w¢ll as
orgarusauonal and leader%hip role.s.
The financial transactlOll5 of RAG are kept separllte fi.om thobe of the Students, Union through the use of unique
coding and custody of the a%sets fall.% within thc genei'al sccuriiy arr￿ngeMen[S of the widei. University.
TA TF.MENf OF TRUSTF.F.S' RESPONSIBILITIF.S
The TruEtcc¥ (who are also diiELiors of UWE Siudenis, Uninn for the purpu%es ol company law) &1re r¢.4ponsible
for prcparing the Annuul ReEK)rt of the Trustees and tl)e finanL1411 siatejnenls in aLcordJnce with appliLoble law
and Uniied Kingdom AcLouniing Sthndards (United kn'ngdom Generally Accepted AcLountlll8 Praciice).
Company l<iW requires the Trustees to prepare financiiil %taiement.% for each financial year wh]'Lh give a twe l￿d
¢Trir vie￿, uf the s1<il¥ <il-fLlifS uf (li¢ ¥li¢iiil£ilTrlr Ll?iiipai)y aiid thc vroup aTid ot ihc incoming resources and
appliLalion of iesourLe% InLludino the income 41nd expendilurc, ot the Lhatiiablc gi'nup forthai period. In PreP￿ing
Ihe%e finanLial btiltemunts., tlie Tjwstees are requii.ed to..
select 5uilabl¥ <iLLI?UntinA p()liLies and Il)en <ipply ihLm ¢()n.%i.%tcntly',
ubserve the method% and pi'inciplcs in the ChaTilies.SORP 2n19 (FRS1112)'
tnake judgment8 and estimates that are rea.%on4ible and piudent.,
staic whether applicable UK Accounting StaDdardE hL1ve been followed. subject to anv Ma￿rial
departurcs Ib'sclosed &nd explained in ihe financial stthtemenis., and
pJ￿p￿l.L LIJL lili￿li]CIal staÈeJnenls OLI Ilie goin¥ conc¢rn ba%ib unlknss li 1.% inappropi'iatc to prc.%ume thai the
chanlablc company will continue iTt bu.sine%.s.
The Trustee.% are re%ponsible for keeping proper ¢¢ounting recoi'd% that dibclthsc wilh rcasonable accuraLy at any
time the financial position of the Lharit￿1bje Lotnpany and enable them to ensure that thc financial siaiements
comply with the Companies Aci ?006. They aLe also responsible for .%afeguardiiitr EhL iibset.4 of (he ¢hJritahle
company and the group and hence for taking E&¥onablc steps for the p￿VenTIon glnd dctection of frdud and other
irtegularities.
So fat as ihe Twsrees are aware, there is no relevant audit information of which the Charily's auditoi is
unaware. Thc Trustees have each taken all the steps that they oughi to have knken as TNst¢e5 in order to rnake
Lhetn5elve5 aiiiare of an Ji relevant a￿dit infoimaiion and t(> establish thilt the Charity's auditor is aware of that
inforjnation.
The Trustees arc rcsponsible for the maintenance and In￿gritY of the CO￿orate and financial information includcd
0]] the charitable company's websitr. L£giS1￿ltiVn in ihe United ￿'ngdoM governing the preparntion and
dis5emintttion of financial siatemenls may differ frorn legislaiion in other juriEdiction%.
AUDITOR
Our dudiior. WESTC0￿s ISW) LLP, has indicated their willingne&s to continue in office and a te501ution
concemin8 their reappointment will be prowscd at ihe Annual General Meeting.
13

SUBSIDIARY REPORTll¥G
The UWE Studenrs Union accounts ieport has been prepared in accordance with t]￿ provision% applicable to
companies entitLed to the small Lompanics. exernption.
APPROVAL
The TNstees' Report and Strategic t¢port was approved on the 22TrJ (ktoixr 2024 and 518TJed on their behalf by..
O Samuel
President of UWE Students, Union
1411112024
14

INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF UWE STUDE￿S, UNION
Oplnlon
We have audiied the fina￿1￿1 S[a￿MenTS of Students. Union I'the group i and it's subsidiary UWESU
Services Limited ('thc subsidiary,) for thc y¢at ended 31 July 2024. wtll.ch comprise a Con%olidated StatetYLent ot
FinaTKial Activitie.s, & Con80lidaied and ChaLlty S(atement of Financial Po¥ition. a Con801idated Cash Flow
Statement and notes to thc fin4inLial statements. inLludsng significant accounting policies. Thc fin£2ncial reporting
framework Ihai been applied in iheir prep￿aLlU￿ is applicable lilw and Uniied Kingdom Accounting Standard4,
Including FRS 102 Tlie FinonLiul Reporting Siandard cipplEcablLi in tlit, UK and RepI4blic ¢![ IreiÉTnd (Unl￿d
Kingdom &nerally Acc¢pt¢d Accounting Practic¢).
In our opinion, the financial Sta￿rnents'.
'give a trlle and fairview of the stateof the group andit's subsidiary'b affairs as at 31 July 2024 and of its incoming
lesources and application of resources for the ye￿[ then ended.,
.have been PToperly prepared in accordance with Uniied ￿'Agdom Generally Accepled Accounting Practice. and
.have been prepared in aCcorda]￿e wilh tt]e requirements of (he Cotnpanies Act 21XX5.
Basis for opinlon
Weconducted our audit in accordance with International Standcird5 on Auditing (UK) (ISAS (UK)) and applicable
law. Our responbibilities under those standard5 al'e further desciibed in Ihc Audiii)r'.f respo#.YibilEiiesfiirth¢ uudit
ofiliefthi7neiol si￿ementS section of our re￿rt. We are indeE￿ndent of the group tsnd il's subsidiary in accordance
wilh the ethical iEquiremenl5 Ihat are relevant to our audit of the financitsl sta￿Ment% in the UK, including the
FRC'S Etkn'cal Standard, alld we have fulfilled our other ethical responsibilities in accordance with these
requtrements. We believe that the audit evidence we have olAained is sufficient and approprMLe to provide a ba51S
tor our opinion.
Conclusions relating to going concern
In auth.ting the fjnancial statements, we have eoncluded ihat the trusiees, use of th¢ going concern basis of
accounting in the preparation of th¢ financia] sthiemenis is appropritste. Babed on the work we have pei"foin*d,
wtt IrdV¥ lii)I iLi¥iilifi¥Li illly Illaleiial uiitettaijities iBl<lting to eveni8 or conditionb Ihai, individually or collectively,
may casi %ignificant doubt on the group's ability to coniinue as a going conLetn for a period of at least 12 tnonihs
from when the financial statemenis allthorised for issue. Our re%ponsibiliLies and th¢ responbibilit12s of the
tn]5tee5 Wlth re.%￿ct to going concern are de￿rited in thc rclevanl &ections of this i"eport.
Other Infomatlon
The other informationcompiises the infom￿[10n included in the annuaL report including the tsUStees' report. Ot￿1
Ihan ihe f)nanci&l statCTncnt% and our auditol'b iepori thereon. The trustees are re5pon&ible f(Trr the other
inforniation containcd within the annulll ieport. Our opinion on the fi]]ancial %iat¢ments does not covcr the othcr
infonnation and. except to the extent otherwise expli¢itly stated in our repJri, we (lo not expre%s any form of
assur0￿¢ Conclusion thereon. Ouri"e5ponsibiLiiy is ro l'ead tbeotherinfomi£iiion and, in doing so, consider whether
the other infomiation is matetially inconsistent with Ihe fjnancial 51atell]eniS or our knowledge obtained in the
course of the audit. or othei.wise appea15 to be maierially misstdted. If we identify such material inconsi.%tcncie8
or appweni maleriaL mysstat¢ments, we are required to deierniine wheihu ihi5 gives risc to a matrrial mi55tatcment
in Ihe financial statements themselves. If, ba&ed on the work we have performed, we conclude that there is
material misstatement of tms Oth￿ infoLmauoo we a￿ required to iew)n that fact.
We have nothing to report in t￿.5 reglltd.
Opliilons on other matters prescrlbed by the Companles Act 2(M16
In our QPiDion, b05ed on the work undertaken in the course of the uudil..
.the infomjation given in the trustees, teport, which includes the direciors, Irport prepared for the purposes of
company law, foi. the financial ye￿. for which the financial stat¢ments are prepared is Lonsi5tent with the financial
statements., and
•Ehe directors, rep)It included within the trustees. reFOrt has been prepared in ￿COrdanCe with applicable legal
requirements.
Mattsrs on whlch we are requlred to report by exeeptlon
In the light of the knowledge and understanding of the gioup and it's subsidiY£ y 3nd it$ environment obtaI]￿d in
th¢ course of the audit, we have not ideDtified material rnisstaiement5 in the directors. report included within ihe
trustees, report. We have nothing to report in respect of the following matter8 in relation to which the Companies
Act 2(KK) requires us io report to you if. in Qui opinion..
•athquate and proper accounting recoL"ds have not been kq)t. or returns adequate for our audit have not Iren
received from branches not visited by us,. or
15

•1]￿ financial 5taiements are not in agreement with the accounting records and returns, or
•¢¢riain disclosures of tru5tec5' retnuoerliiion specified by law are not made.. or
"we have not I'eceived all the inl'ormation and cxplanations wc ￿qUire for OUL" audi(
Responsibilities of trustees
explained more fully in the irustee%' re.%ponsibilitie.s statement sei out on page 13, Ihe trustees (who are also
the directors of thc charitable company for the pllrpose5 of company lawl arc responsible for the piepardtion of
the fin&ncial.%t£2ternents and for being saii%fied that they give a irue and fair ￿tw, and for such iDtemal control as
Ihe I￿Stec$ dcleiThine necessary to enable the prcparation of financial 5tatemcnts ihat ue flee from ma￿rial
misstaiement, whether due to fraud or error.
In piEparin£ the fInancial stateincni8, Ihe tru.%tec% att iesponsible for assessing (he group's ability to continue as
a going concern, disclosing, as applicable, matter8 related to going concern and ustng the going ¢(Fncern tMSiS (Trf
accounting unles.% thc tNsiees cither In￿nd to liquidllte the company or to cease operations. or have no i"ealistic
alicrnative but to do 50.
Audltor's responslbllities for the audit of the finaneial statements
Our objectives are to obtain reasonable &%8urancc about whether (he fjnancial sldtetnenis as a whole ￿ Éi"ee from
mRterial mi.%statemeni. wheiher due co frnud oi error. and to issue an auditor's rew)rt th£lt includes our opinion.
ReasonLible a%8urance is a high level of ￿SuranCe but 15 not a guaraniee that an audit conducted in accordance
with ISA5 (UK} will alway% deieit a malerial tni5Stdlefflent when ir exists.
Mi5Staiemenis Lan arise from fraud oi. effor and LunsideiEd n)d[￿'la] if, individually OL. in thc aggreg&tc, they
could reasunably be eX￿Cted to influei)ce the eLunumie decisions of usei's takcn on ihe basis of these financial
5tatemeni%.
tttegularities, including fraud, are instonces of nOn-comp￿.aA¢e wilh laws and regulations. We design procedures
in Line with our i.espon5ibiliLies. Outlined abtsve. to derect material misstatemenis in rcspect of irregularitie&
Including fraud. The extent to which our procedures capabl¢ of dctccting irregularities, ineluding fraud is
detailed below..
the engagemeni partner cn%ured that the en(T&i¥ement team ci)Ilectsvely had the (Ippl'opriale Lo￿￿tenle,
Lapabilities anij skillb 10 ideniify ()[ reLo¥ni&e noi)-coinpliance with appliLable law% and i"egulations'
we idenufied the law% aiid LEguliiiions applicttble 10 the group and it's .%ub5idiary through disCU5S10115
with direLiOfS and other m&lnageinenL and fiDm our¢ommeTLial knowledg?e anLI expeiien¢e of the sector.
we fOcu￿d on specific laws and iegulatitsn5 which we considered may havc a dirccl rnateLial effeci on
the financial statemenis or the operations of the group and il'% 5ubsidi<lIy Loiiiwiy, iiicluding the
Companies Act 2006, taxation legislation, data protection, anti-bribery. cmploymenL environtnentai and
health and salety legsslaiion;
we dssessed the extent of compliance with the laws and resulations identified above through making
enquiries of management £ind inspecting legal coriespondence., and
idenlified laws dnd iEgulaiions were ¢ommunicaled within the audit iegulariy and the team
tefftained aleil to insiances of non-¢ompliaRLe throughout the audit.
We asbessed the su&ceptJbLliiy of the grnups's financial stale]nenls to maierial mis%tatemen(, including obtaining
an undersianding ot.how fraud might occur, by..
maksng enquirie& of rnunti¥erneni as io where they consiikred there was susceptibility ts) frthu(L their
knowledge of Ktual, susFc(ed and alleged fraud-,
considering the internal Controls in place to miiigate risks of fraud and non-compliance wilh laws and
rcgulauons; and
To addre88 the risk of fi'aud through manllgement bias and oven'ide of ¢QT)trols, we:
perforned analytical procedures to identify any unusual or unexFt¢ted relationshipb:
tested juumal enities io idenuty unusual tran5actions',
ossessed whether juLlg¢ments' and assumptions rnade in determining the accounting csrimates wcrc
indicative of poiential bias:
invesllgated the rationale ￿h1nd significani or unusual traDsaLtions.
In respon* to the risk of irregularities nun-compliance with laws and regulation5, we deSig￿d P￿￿edureS
which included. bui were not limited to..
agreeing financial slatemeni disclosures to underlying supporting do¢unLentation;
rea(hng the ]ninutes of rneetings of those charged with govemance.,
enquiring of n￿n￿geMent as to actual and potential Litigation and elaims,.
reviewing cotreswndence with HMRC, relevant regulators and the company's legal advisors.
16

There #re inherent limitations in our audit pr(Kedures descriEed aEove. The more removed that laws and
regulations are from financial transactions, the less likely it is that we would become aware of non-compliance.
Auditing standar(ts a150 liJnit the audit proc¢dures tequired to identify non-compliance with laws and r¢gulations
to enquiry of the directors and other managernent and the inspection of ￿gUlatOry and legal correspondence. if
ally.
M&terial Tni5Statemen(s (hat arise du¢ to frdud can be harder to detect than tt]ose that arise from error as they may
involve delilxrate concealment or collusion.
A further descripuon of ow responsibi]ities is available on the Financiat Reporting Council's website
at-. www.frc.org.uklauditorsrespnsibiliiies. This description forms part of our auditor's report.
Use otour report
This rep(Trrtis tnade solely to the group and it's Subsidiary's members, as a Ix)dy, in accordance with Chapter 3 of
Part 16 of the Companies Act 2006. Our autht woik has Iten undertaken so that we might state to Ihe group and
subsidj'ary's members those matt￿S we required to state to them in an auth'tor's report andfor no otlKipurp05e.
To the fvllest extent per￿lIted by law, wc do not accept or assume responsibility to anyone other than the
clwithble company and it's subsidiary and the ctwitable c¢)mpany's memixrs as a imxly, for our audit worL for
thi.s repoQ or for the opinion5 we have fonned.
David Wrigiit (Senioi Statutory Audiiorj
For and on behalf of Westcotts (SW) LLP, Ststutory Audttor
80 Oxford Street
Burham-on-sea
TA8 IEF
28.11.1*
17

UWE STUDENTS, UNION
Consolldated Statement of Financial Aetivities {Ine Income and EX￿ndIture accounts)
fot the year ended 31 July 2024
Unrestricred Funds
2024
Restricted Funds
Total Funds
2024
Totsl Funds
2023
2024
Incomefrom..
Donations:
Block grant
Grant income
Ch￿l￿bIL acdvitles:
Fresliers,.8tudtnt shops and bars
Union servi¢e5. SPQfts und ￿her activities
Other trading activities:
Nurseiy aT)d oth¢r trading
Investments
4.071,090
11,485
4.071.090
11,485
1.930,1
48,036
2,546,497
658,933
2,546,497
658,933
2,787,043
676,505
705,I(
10.968
705,106
10.968
622,449
Total Income
8,004079
Expendthre on..
Raising funds:
Nursery and other trading
Grant expenth.ture
Charitable activities:
Freqhers, student shops and bars
Union services, swrt5 and other activities
733.169
11,485
733.169
11,485
720,698
2.611,795
2,966,283
2.611,795
2,998.244
2.683.839
2,651,086
31,961
Tota] Expendlture
6,321732
6054,693
6,055,623
Net (expendltureylncon
1,681a47
131,961)
1,649,386
11754
Fund balances brou8hi forward
16117
ji.062.472j
(966,592)
j979,31iiJl
Fund5 Balance at 31 July
16117
(966,592)
The notes on pag¢s 21 to 37 fomi part of ihe%e accounts.
There are no recognised gains or losses other than those passing thn)ugh the Con5011da￿d Statement of
Financial Activiti¢s. All trading acuyities of the Union aDd its subsidiary ￿ classed a5 continuing.
Prior year coryardtive figures ate shown An note 27.
18

UWE STUDENfs' UNION
Co￿01]dated & ch￿lty St&tement of Financi8] Positioll as at 31 Ju]y 2024
Group
2024
Group
2023
Charity
2024
Charity
2023
Fixed Assets
Propctry, Plan( & ￿UIpMent
Investments
522.253
6.461
402,008
6,462
522,253
6,462
12
6,461
Totsl Fixed A￿eLS
408,469
528,714
408,470
528,715
Current Assets
Inventories
Debtors
13
14
82,437
293,424
394,141
88.726
155,257
388.244
9,550
287,918
237,957
8.617
404.311
113.044
Cash ai bamk and in Iwjd
Total CurYen¢ Assets
770,￿2
032.227
535.425
525,972
Credltors: Arnowits falling due within
one year
E5
(495,677)
1386.648)
1261,101)
(280.394)
Net Current ￿el￿(LIablI1tiesj
274,325
245,579
274,324
245.578
Creditors: Amounts falling due after
onc year
25
(1,740,885)
(1,740,885)
Net ￿e￿(LIabl]st5es)
681794
(966,592)
682,794
{966,592)
Capltsl and Reserves ::
Unrestricted fjjtjds
Genetal funds
16
288.196
372.950
288,196
372.950
Designated funds
16
330.679
(1,435,422)
330.679
(1,435,422)
Restricted fund5
17
63,919
95.880
63,919
95,880
Total Funds
18
682,794
(966.592)
f)8•.794
1966.592)
The note8 on pages 21 to 37 forni pari of these accounts.
These financial statements have been prepattd in accordan¢¢ with the special provisions of Pari 15 of the
Companies Act 2(K)6 relating to small charitable compawe5 and were approved by the Trusiees on 14
mEL"r 2024 and are SAgned on their E¢half by..
mucl
President of UWE Students, Union
Company Regibtration Number 07675253
19

UWE STUDENTS, UMON
Consolid#ted Statement of Cash Flows tor the year ejded 31 July 2024
Group
21124
Group
2023
£?IKM)
£'ooo
Cashlgenerated by operating activities
(94)
(601
Cgsh flows from Investing aetlvltles
Interest i￿Orne
Purchase ftf ¢an￿hle fixed &$8Et
Return of investments
89
{l26)
Cash pro￿ded used In InV￿ting activities
loo
11221
Cosh flows from flnanclDg actiTrities
Repayment of borrowing
Cash used In acdvlties
Increase in cash and cayh e4uivalenis LTJ Ilie year
Cash and c2sh equivolents ai the beginDing of the year
(182)
570
388
Tntal eash and cash eouivalents at the end of the
year
394
388
The notes on pages 21 to 37 forni part of these accounts.
Ch￿itY law prohibits the use of nei cash flows on any restricted fund to offset net cash outtlows on any fund
outside of ils own purpose& except on sFeeial authotity. tn practiK this restriction has t￿t had any effect on
cash flows for the ye￿.
20

UWE STUDENTS, UNION
Notes to the Financial Statements
fnr the year ended 31 July 2024
AecountinE Policies
BASIS OF PREPARATION
The financial statements have btcn prepared on the hi¥(OriCAI cost basis and in accordanLe with ALLounting
and Rew)rting by Charities.. Staiernent of Recommended Pi'octice applicable to Lhdriiies pr¢pating their
accounts AO accordance with t￿ Financial Reporting Standard applicable in the UK and Republic of Ireland
{FRS 1021 leffcctive l January 2019) - (Charities SORP (FRS 102)). the Finanrial Reporting Standard
applicable fftn the UK Republic of ]￿land IFRS 102) and the Cornpanies Act 2006.
Group Financi8J Statements
The financial statements. ctsnsolidate the result.8 of the chariiy and its whully OWDed subsid]£￿Y UWESU
Servicc8 Limited nn a line by line bagis. A ￿p￿.ate Staiement of FinJnLial Activitie5 and incoine and
expenditure dLCOIJTit, fur Llir Lhdriiy Jiol i)re.scnted because ihe ch<llity has iakcn 4Ldviilltage of the
cxemptions affoi'ded by section 408 of the Companies ALI 2(K)6 p￿agrap]i 397 uf the SORP. The
unconsolidated SU￿luS for the Ye￿ of the charity was £1.649,386 (22123.. Surplus L12,7541.
Intome
The Block GIiL nt frorn the Univer.%iiy of th¢ W¢st of Enttlic nd ib dealt witli un É¥ finan¢ial y¢ac ba%is. Oiher
income is included in the SOFA accouni on a receivthbles basis where there ib reasonable probability of
ieceipl.
The Union rcceives grants which are recogni*d as incominE re%ourLes in ihtt Stsieiijtrjii of FiiiaiiLiil1
ALtivilie.% i)n a rcLcivahlc h&%1.% when they mcct the ¢hrec rccognitinn critcria set out in the SORP.
Expenditure
Co%t% of generating fund.s are those co%1.% incurrcd in a((r&cting vnluntaiy inLome, and thu&e inLurred in
trading activities thai rai.se fund.s including liahiliiics where thci'e ib a reJsonable probable of the expenditure
Charitable aciiviiies include ￿1h the direct C08t% and suppon eosis reldliDg lu Iljustr aLtivities.
Governance c08ts ineludc ihosc incurred in Ihc uovemthnce of ihe charity and its. assets. Support cos(s, being
indircct stttff Jnd ovcrhcttd costs. are apponioned on a usage basis aLlOSS each area.
stalen￿￿t of Cash Flows
Thc chttiitj. htts taken ttdvaniagc of the e.xemption available under FRS IO• Secuon l. l?(bl in rtot prep&￿ing
charity only %tlltement of ca%h flows.
Sti)eks
All stocks are stated at the loweL Ot cost and nei realisable value. Etalisable value is based on estimated
selting price less the estimaied cost of disposal.
tnvestments
Invesiments are stated in the batance Sheet at cost. Thc only balance remaining is the £6,461 NUSSL
investment.
T#ngible fixed a%sets
Fixed assets are slated at C05t less accumulated depreciation. Tangible fIxcd assets with a cost below £2,500
ale not capitalised. tkpieciaticjn 1$ provid¢d at thc folltswing annual l'ates in order io write the cosi of ass¢ts
off over iheir eStiMa￿d useful live¥',-
Fixtures and fitts'ngs
Equtpment
Alterauons to prerni&es
10% - 3390 of cost
20% - 33% of Clk%l
10% - 20% of cosi
21

UWE STUDF.NTS' UNION
Not£* to the Finanelal Statements
for the year ended 31 July 2024 (Continued)
Pension eosts
UWE Siudents. Union partiLipaies in t￿ Students, Union Supei'annuation Scherne, a defined benefit %cheme
which is eXterr￿llY lunded <ind vonti'acted out of thc Siale Second Pension. The fund 1.% vttlued at least cvery
Ihi'¥c ye￿5 by a prole%sioJially qualified Inde￿ndent aciuary with thc ratL5 of contribution Piiyable beiniT
determined by the trustee.% un the advice of the Ctuary. The Scheme 0[￿ra(cS a8 a FK)oled atrangement, with
ontributions paid di a Lenii'ally agi'eed late. The 2013 valuation recommended a Tnonthly contribution
i"equiretnenl by each partjClP41ting employer expres.sed in monetl£ ry temis intcnded to clear ihe ongoinrr
funding deficil. As (i consequence under FRS 102, the Union had rec()gni*d a liability in the balance 8heei
equal lo the net present value I"npv"} of I'utuie deficIt reduction payment%. lliese P41lTnents are discounted
io the presenl value using the market yield on high quality corporate bond%. As at 31. July 2024 UWESL
has paid off the liability in full via the Section 75 pro￿$5.
The Union al¥v parti¢ipaies in both a NEST (Government .8tandard fund for those thdl duii'l upi 4)ui of ili¢
miiill 5LheJn¥l cind a NUSPS peii%ion fund toi those wishing to takc advthntaoe of the Union8 currenily offered
8Lhcme.
ra%ation
The chaniy 14 ex¢inpt from tax an income and gaxn% talling within sectioii 505 uf ihe T￿¢5 Act 1988 or
section 9.52 of ihc Taxatinn i)f ChiL rgciblc Gains Aci 199? tn thc extent d)at ihebe are Ipplied to 115
chatitable objec18.
Operdting least agreements
Renii?Is applicahle to Dpc1￿[1nts lellses where 8ubsraniially all of (he l)enefii% dnd ri%ks nl. Dwller.%hip ￿Main
wilh Ihe le%bl)r are chaJ'(Ted 1L Inst surplubes a sri'¢iighi-line basis uveL' lh¢ peJiiKI Lif the lease.
Fund Accounting
L'nrestrictrd Fuiids rcpirscnt un8pent income whiLh may be used fDI' aiiy <?ciiviiy. Iksigndled Fund.4 are %el
asidc by the Union to be spcni on spe¢ifiL projccts and areas. Rostricted Flind.% raibed aiid adminiblered by
the Union are f(>i" specific puipo%e%, such as Clubs and Socieues.
Going Concern
Th¥ BalaiiL¥ SI)¥LI £lt .)1 Iul
"3 bllow￿￿ iiet L.jLihility of £1,74D.88.f. ii,hich ha% noii. bccn paid oft in
full a.s at 31 July ?a24 aftci. the debt was put through the Scction 75 rules. In considtring the going concern
basi.s, the -rn]8tee.￿ c()n%idcr the Lompany reiains sufficicnr wurking Lapital 10 cvntinue lidaing Il]e next
12 Inonih% bJ.%cd on cvidcnLe of long tL'rm posiiivc LJ%li flows and stdble ¢omrner¢ial triide. Reseives ate
conllnuing to intrett%e with less fund8 in a restricred CÉ1pacity. We re also moniioring <ind reviewing Nursery
occupancy and wlicy on ttttcndanee io ensure prudeDt labour pl￿1ng given the ongoing funding changes
in the %ector. The comp{￿Y cash flow foiecasting will bc wnsisiently completed for <1 minimum of a 12
month period aT]d will rcmtiin under monthly review. The board therefore feel it appropriate to prepare (he
accounts on a going eonceim b&4i.%.
Fin#neial Instruments
As the charity only hEL% bttsic finincial instLumenis It eleLied io Apply the pix)visivr]s of Section I I 'Basic
Financial InstrumcnL%' of FRS 102, 10 all of it.% fin41ncial in51ruments.
Financial instrument% are recognised when the charity 1￿ComeS p￿.[Y to the contractual provisions of the
instrumen
??

UWE STUDENTS, UNION
Notes to the Finanaal St#tsments
for the year ended 31 July 2024 (Continued)
Financial a5.%ets and liabiliiic.% are offse(, the nei amounis presented in the financial siat¢mcnts, when
IheR is a legally enforceable right to %eL off Ihe recognised amounts and thett is intcniion 10.%ettle on
net basi.% or to rettiise the asser and setile ihe liability %imultane()usly.
Basic FinanclAI Assets
Basic financial assets. w￿.Ch include trade and other Leceivables and cash and bank balances, are initially
measured &ttrdnsaction price including tr￿Saction cost% and are subsequently carried at amortised cosi using
the effective interest method unless the ￿rangtrnent constitutes a financing transacuon, where the financial
ssei is measured aL the present value of the futuie receipt5 discounted at a maikci late of interest.
Impairnient of fjnancial a&sets
Financial assets ￿e assessed for indicators of impaii'ment at each reporting end date.
FinanLial a55ets' 1tnpa1￿d where theiE is objective ¢vidcncc thai, re.%ul( of one or moit evenib Ihat
OCCULTed afterthe iniual recognition of the financic11 a.s.%ct, thc estimated future cllsh flows have been affected.
If an cissel Impl￿ ired. the impaiirnent los% is (he diffcrence bctween the carryinLT amount and the p￿Sent
value of the estitnated cash tlows di$counted at the assct's original effective In￿reSt ra￿. The impairnienl
loss is recognised in the SOFA.
If there is a decrease in the impairnient 105% ariEing from an evcnt rtcuri'ing after the impainnent was
rtcogni%ed, the impaiiiment is reversed. Thc rever.%al is such that ihe current L£urying umvunt does noi exceed
what the Ca￿yIng amouni would have bcen, had thc impairment not previously been recognised. The
impairmcnt revei'5al ib ltcogni.scd In the S()PA.
Dt-Reeognition of financial as5cts
FinIt]￿l&l asgei$ IL re dc]wogni%ed only when the c[bnir￿1Ual rights 10 lh¢ L£ish flow5 fi.um ihe as%et expiie or
rc. 5e.Iile.d. or whe.n the c.ompilny rr11 n.%fr.r8 the fillancial assei and substantially all the riskb and rewards of
owneiship 10 another eniity, or if some signifiL£Lnl risks and rewatdb ol" ownership ale Ictained but control
t the asset has transferred to another party thal ib able io sell the asset in its entirety to Kin urirddLrd diijd
party.
Finaneial Liabilities
FI￿rtLi￿1 liabiliues are clasbihed accorth'ng to the bubstanLe ol. d)¢ coniractual atA'angcments entLred inlo.
Basle flnaneial Ilabilitles
Ba5lL fitranLiul liabilities, inLluding trdde and otheL payable& are initially recognised at transaction price.
De-Recognltlon of llnanclal IlabllltAes
Financial liabiliu¢s are derecugni5ed when. and only whe]]. the charities contrnctual obligations air
discharged, ¢ancelled DI. they expire.
Cash ond tash tqulvalents
Cash a7)d cash equivalents includes cash and short tetrn highly liquid inve5Étnentb with a short maiurity
peri￿1.
23

UWE sfuDENrs' ur4ioN
Notes to the Flnancial Statrments
ror the year ended 31 July 2024 Icontlnued)
Other tradlng Aetiirytl
2024
2023
Nursery
Other Trading
626,936
78,170
554.747
67.702
705.IIXfj
622,449
3. Charitsble Activities . Fre$her4 Student Shops and BArs
2024
2023
Fresher8
Retall
Food & Beverage
78.314
1,772,946
695,237
78.765
2,fr12.878
665,400
2,546,497
2,787,043
4. ChArlt*ble Actlvldes- Unk•n Servle4 Sports and Other Aclivities
21)24
2023
Sports & Other Activities
Union Servlces
624,269
34,664
657,989
18.516
658,933
676,505
5. An￿ysiS of expenditure- Activities for Raising Funds
2024
2023
Nursery
733,169
720,698
733,169
720.698
24

UWE STUDENfs' UNION
Notes to the Financial Statements
ror the year ended 31 July 2024 Icontinued)
Analysls of expenditure on Charltable ACti￿ties- Fre5hers, Student Shops and Bars
2024
2023
Freshers
Retail
Food & Beverage
112,720
1.795,505
703.570
78,350
1,963,239
642,250
2.611,795
2,683,839
Analysls ofexpendl¢ure on Charltable A¢d￿tIes- Union Serrfces Sports *nd Other Acllvldes
2024
2023
Sports & Other ACti￿ti
Unlon Services
Governance
Pe￿lon Li4blUty Adjustn￿￿t
1.279.174
3,659,014
108.511
(2,036,970)
1,215.486
1,499,563
35.254
(99,217)
3,009,729
2,651.086
Expenditure
Dlrect
Staff
Support
2n24
Total
2Q23
Total
Usage
Clubs, Socieues & Networks
{20%1
Student Rep & Officers (7%)
Advice Centre {4%1
Campus Supp)rt (3%)
ComTnunicaLinn.s {.%%)
Commercial
Nursery (12%)
Commercial activities144%)
Governanee11 %)
Overbeads rech¥rged (0%)
PensioDS deficitlmovement (-
833,236
141.750
54.332
74.753
117,075
254,877
244,066
104,618
50,919
167,715
l91,061
60,663
()0,664
60,664
60,664
1.279,174
446.480
219,614
186,335
345.454
1.215.486
423,173
218,239
158,260
311.254
96,117
1.616.885
97.346
2.076,117
501,707
771,5
11,165
385,014
135,345
223,410
733.169
2,611,795
108,511
2.461,131
720.698
2,683,839
35,254
388.637
2%)
(2,036,970)
(2.036,970)
(99,217)
2,491,581
792.471
6,354,693
6,055.623
Governance costs are th05c incurred for cotnpliance with constitutional and statutory requirements, such as
the annual audit, profe55ional fees and election costs.
25

UWE STUDENTS, UNION
Notes to the FfinanciaI Staternents
for the year ended 31 July 2024 (Contfinued)
The supwrt CO$L¢ were looked at on a detailed basis. WI￿re individual eosts could te allocated to specific areas
they wert. Otherwise costs were a]Iwated by comparison to either saltiries, non-salary expenditure or a
combination of the two. deLxnding on wlu'rh method gave the m05t reasonabLe allocatson.
Cumparative figures are ixlow-
Direct
Support
2023
Total
2022
Total
Usage
Cluffltablé
Clubs, Societies & Networks
(20%)
Student Rep & Officers (7%)
Advice Centre (4%)
Campus Support {3
Communi¢ation5 (5%)
Commercial
Nursery {12%)
ComrneiciaL activities (44%}
GovernwKe (l %)
Overheads rechar%ed (6%)
Pensions defJciVmoTrEment (-
801,447
127,928
46,783
66.(K)O
108.139
247.200
239.028
115.239
36,043
146,898
166,839
56,217
56,217
56,217
56.217
1,215,486
423,173
218,239
158.26A)
311,254
1,065.134
209,925
155,938
27U,541
99.579
1,851,370
26,461
5,461
498.416
712.921
8,793
383,176
122,703
120,448
720,698
2.683,839
35,254
388.637
632,826
2.546,180
97,225
152,130
2%)
199,217)
199.•171
188,8381
3.033.951
? 180,814
634.858
6.llf S ()?3
5,432,555
Staff Costs
The number of staff employed by the union amounted to..
2024
2023
PermAnent Staff
Student Staff
79
92
83
86
171
169
The full time equivalent number of staff employed by the Union amountrd to..
21)24
No.
2023
Permanent Stsff
Student staff
66
69
74
93
26

UWE STUDENTS, UNION
Note5 to the Flnancial Statements
for the year ended 31 July 2024 (ContSnucdl
The costs of ihe aly)ve were..
2024
2023
Wages & sgjaries
Soc18] seturity
Pe￿￿on costs
2,186,062
160,763
134.381
2.073,375
131.744
127.898
2,481.206
2,333,017
Banding for pay over £60,(K)Olannum:
2023124
2022J23
No. of
stAff
No. of $tatY
£70.0(K)-£79.999
£80.0(X)-£119,999
£90,(KK)+
10. T￿St￿e5, Remuneratlon and E%￿n5£S
The SU President and each of the four Vicc-Pre5idenis bee.n rerniinf.nted by way of ¢ontract for the year as
allthorised by the Union's governing d￿vrnent for the repre%entatiDn, campaigning and sUPPOrt work Ihey
undert*th as distinct from theirTrusiee ff5ponsibililies. This work includes voicin8 Student opinion wilh thr
institution and local community, defending and exiending the Lights of 5tudEnt5 throllgh tKtiiions,
discussions with MPS, organising and supwrting student volunteers and Se￿iCe provision for them. The
iotal salary and NE costs for the sabbatical offi¢ers amounted io £138,363 {22123.. £126.7C6}. The breakdown
1% below.
There were other taxable Trn8tee benefits the forni of V￿A reimbursements for year totalling £980
122123.. £1.319).
Travel exp¢ns¢5 of £3,133 (22123.. £761) wer¢ paid out to the Trustees.
27

UWE STUDENTS, UNION
Notss to the Financikl Statements
for the year ended 31 July 2024 (Contlnued)
2024
2017
Payroll RJpeMes P¢wiTrn
Tolal
PAyroll Pemslfyn
Toial
BeEhBJ
Fkacl
2&187
667
1704
28,458
25474
428
701
Fdy82 Abdul Kueem
SabibB
25￿￿1
292
1285
27,477
22J7
2257
22974
75
876
23,Y15
2257
16
2273
Samuel
Olure Kolawol¢
27937
290
1798
2257
2.257
ishu
25741
571
26.312
2257
2257
KbHdua
Ho$5ai]J
2407
2,407
Lubyna
MUh￿ld
Gardezi
2427
158
1585
Habib
2427
540
2,967
Um¥
Abb4si
2463
540
oluw4damiioja Ok¢yoy
Roni
23134
639
23,773
Rahul
A5wa
23134
24296
22714
47
639
234(K)
L4ty
Diyemowei
4woDd
23222
252
6J3
24127
ity
Wildini
Toth15
13fi J63
3.133
5.663
147.lJ9
J26,X
761
3,777
131,244
In 23124 there We￿ a total of 8 trt￿teeS who krceived rel￿bUr8ed eX￿nseS (5 ITr 22r23).
Tbere w¢r¢ £DiI waived eXI￿nseS during the cour5¢ of year. (22123.. £nil)
28

UWE STUDENfs? UNION
Notes to the Flnancial Statements
for the year ended 31 July 2024 Icontlnued)
11. Property, Plant & Equipment
Fixtures
Fittings
Group and
cl￿rItY
At l August 2023
Additions
2.501,659
88,832
Ai 31 July 2024
2.590,491
Depreeilltio
At l August 2023
Charge for the
year
1,979.4
209,077
At 31 July 2024
2,188,483
Net Book Vlllue
At 31 July 2024
402,(K)8
At 31 July 2023
522.253
12. Investments
At 31 July 2024 the Union held an inve5ttnent An the following company which is incorpor&*d in the UniEd
Kingdom..
Name of Company
Company Number
MAin Trading Activity
Equity Held
UWESU Services Limited
07917777
Cornmercial actiViLies of the Union
A summary of the subsidiary's ￿SUIt% for the year ended 31 July 2024 and the balance sheet position at 31 Suly
2￿24 is shown ￿lOw.
Group
Shares in
Subsldlary
Deposlls
Total
At Cost
At l Au8USt 2022
Additions
Di¥posals
6,461
6,461
At 31 July 2023
6,461
6.461
29

UWE STUDENTS, UNION
Notes to the Financial Statements
for the year ended 31 July 2024 (Continued)
Charity
Shares in
Subsidiary
Dew>sits
Total
At Cost
Ai l August 2022
Additions
Disp05als
6.461
6.462
At 31 Juty 2023
6,461
6,462
2024
2023
UWESU Services L¢d- Profjt and loss
ccount
Trrnover
Expenditure
2.624,667
(2.611,7951
2.854.746
(2.683,840)
Net Profit
Distribuiion UWE SU
{12,872)
{170,W61
Re(l£ tned profiis brought frorward
Reiained pruliis ¢￿]e¢J furwurLI
UWESU SeTTices Ltd- Balance sheet
Current assets
Current liabilities
313.346
(313,3451
481.116
(481,115)
Called up share capital
Prolit and loss account
13. IDventories
Group
Charity
2024
2023
2024
2023
Goods for own use
Goods for Male
9,550
72,887
8.617
80.109
9.550
8,617
82,437
9,550
8,617
30

UWE STUDENTS? UNION
Notes to the Flnaneial Statements
for the year ended 31 July 2024 (Continued)
14. DebtOTS
Group
Charlty
2024
2023
2024
2023
TrAde and sundry debtors
Prepayments and aecrned income
SS aDd other taxes
Amount due from subsldiary
40,663
252,761
23.387
131,870
13,852
201,761
(15,830)
45.279
72.305
374,862
293,424
287.918
15. Credltors: Amounts fa]ling due within one year
Group
Charity
2024
2023
2024
2023
Trade credltors
Soclal security And other thxes
Other creditors
Accrua15 and deferred income
63.850
217,817
32.873
1RI,137
128.318
16.897
47,889
193,544
58,295
49.069
14,106
139,631
74,875
(3,685)
46,651
162,553
495.677
386,648
261,101
280,394
16. Unrestricted Funds
2023
Income
Expenditure
'I￿ansterS
2024
General Funds
372.950
6,921123
(5,027,735)
11,979,142)
288.196
DesignttsedFunds.'
Halley Nursery
Capital Reserve
PeDsion Liability
Clubs, Sk)c'5 &
Networks
105,4C)3
Total Designated FuDds (1,435,422)
627,352
(586.715)
{24,637}
16.000
2(X).O(K)
(1,740,885)
(262.894)
2.(M)3.779
454,604
1,081,956
(445,3881
(1,294.997)
114.679
330,679
1.979,142
Tota] Unre8tricted
Funds
11,061472)
8.aiH,079
16,322.7321
618,875
The Designaled Funds of £330,679 {22123.. Negative £1,435.422) are for the replacement of existing capitAI items
and toward the cost of providing future facilities. the sepaTrtion of surpluses generated by the Clubs. Societies
and Network5 and the separdtion of the Halley Nursery funds. The SUSS pension ]iabiliiy wa$ cleared dunng the
year ￿sUlting in the designation reducing io £nil.
31

UWE STUDENTS, UNtON
Notes to the Financial StAtements
for the ye8T ended 31 July 2024 (Continlledl
In additiotL by agreement trttweeTh the Unton and the University the th.rect funth.ng generated from or required for
th¢ running of the Halley Nursery have been assigned a separate designated fund. The balance is written baek
down to £32.1K(J e￿h year. This year the Nursery made a pre-management recharge Surplus of £29,112. We Iiave
therefore decided to build the balance back up to £16,(KK) as at 31" July 2024 with the intention biiilding back knp
to £32.000 in 24125.
Finally, surpluses generated by Clubs. Societies and Netwoths are set tiside by the Union to be speni sp￿ificallY
in these areas.
Comparative fI8ures to 22m are Eelow..
2022
Income
Expenditure
Tr4]ksfers
2023
General Funds
392,363
5,125,944
(5.113,927)
(31,430)
372.950
De￿&￿￿tea Funds..
Halley Nursery
Capital Reserve
Penslon Liability
Clubs, Soc's & Networks
Total Deslgnated Funds
5.826
200.0
{1.840.102)
134,726
(1,499,550i
554,747
(s92,(￿3}
31,430
10)
200.0(K)
11,740,885)
105,463
jj d?5.422j
99,217
-.1416,949)_--
{909.735)
387,686
942,433
TotsI Unrestrficted Funds
{1,107.187)
6,068.377
6,093,66?1
11.061472
17. Restricted Funds
2023
llleome
Expenditure
TraThrfers
2024
Capital Grant
95.880
131.961)
63,919
95,118U
-41,Ybll
63,919
The Restricted Funds of £63.91912Y23.. £95.880) ￿late to donations and iD¢ome raised for 5wific projects and
as such arc held pending luture spcndADg. Thc Capital Grnni is a contribuuon towards the fit out of the new SU
buildillg and will it written off over the Ilfe of the ELssets (10 years). Comparative figures 10 2Y23 are I￿loW..
2022
IDcome
Expenditure
Transfers
2023
Capital Grant
127,841
(31,961)
95.880
127,841
131,961)
95.880
32

UWE STUDENTS> UNION
Notss to the F5nancial Statements
for the year ended 31 July 2024 Icontlnued)
l& Analysis of Net A&gets between FuDds
GY•up
Fund balances #t 31 July 2024
Represented by:
Tangible fixed kssets
InveSt￿entS
Current assets
Current liabiLiiies
Restricted
fund5
Designated
fund
Ceneral
funds
Total
63,919
338,089
402.IM)8
6.462
595.151
(320,827)
6.462
324,217
270.934
(320,827)
Tot￿ net asseL8
63,919
330,679
682.794
Charity
Fund balW￿eS #t 31 July 2024
Represented by:
Restricted
fund5
Deslgnated
fund
General
funds
To
Tangibl¢ fixed assets
Invesunents
Current assets
Current liabilities
63,919
338.089
402,1
6,462
288.920
(14,596)
6.462
324,217
135,297)
(14.596)
Total net assets
63,919
330.679
288.196
682.794
Comparative figures to 22123 ar¢ in NO￿ 211.
19. Net Inconjelexpenditure for the yeAT
Is arrived at after charging..
2024
2023
Ikpreefiadon
209,077
180.017
Auditor's remuneratlon:
Fees payable to the Charity #udltor for the
audit of the flnancial statements and
consolid2tIon
Fees payable to the Ch￿fity •udltor and its
associates for other service5:
13.750
16,250
4,000
4.150
20. Penslons
UWE Studen(s' Union participates in the Students, Union Superannuation Scheme, which is a defined irnefit
scheme whose membership consists of employees of students, unions and related b￿lieS throughout the ¢Ollntry.
Benefits in res￿et of seThice up to 30 September 2003 ate accrued on a "final salary" basis, with benefits in
re5per.t of servic.e frnrn I ncknher 20n3 accruing on a Career Average Revalued Ean]ings (CARE) basis. With
33

UWE STUDENI'S, UNION
Notes to the liinancial Statements
lor the year ended 11 July 2024 Icontlnued)
rl'lect froin 10 Seplernbei 201 I riie,8¥lwinc ilosLd If) futurc I￿ll"u,.11.
The mo.4t recent V￿lUatiOn of the Scheme WG1S eciined oui ai 30, June ?n22 and showed that the rnarkei valuc
of the SLhemc's a%%cis was Ll 37.0(N),IM wilh Ihese asscL% rcpre*nting 51 % r)f the value of ￿nCfl1S that had
aLcrued to mcmbers after allowing for expected future incrca4e.% ID earning.%. Thc deficit on <lll ongoints fundin(F
basis amounted to £134.0(K>,(KK).
The assumptions which have ihe mosi.%ignificant elfect upon the i"e%ults of the valuation are those relating to the
rote of return on irLve5tfflent5 aiid Ihe rate.s of increase in salaries iL nd ￿nSIon.5.
The 2022 Valudtion recomniended il Inonthly Lvnti"ibution requirement by each Partscipating Employerexpre%.sed
in monetary tenn5 intended tc> Cle￿ the (pntsoing funding defiiit over a period of 13 yecirs and will increase by ai
least 5% eaLh yeLw. These c()Miibulion5 al.%0 inLlu(Je (In allow¢inLe for tht cost of the ongoing administrati*e and
operation￿1 expenses of running the Scheme. These l<ites applied with el'fect fiK)m l (ktober 2014 and will Tr
formally reviewed lollowing coinpletion ol. the next valuation due with an cffcLtive dale of 30 JuTJe 2025
Sui"i)luses or defiLii% whi¢h £iri%e at frutuie valuations will also impact on UWE Students. Union's future
Lunlribution cominitment. In addition io the abovt conlribulions, UWE StLidenis' LTnion al%a pays IL% share ol" the
%ch¢me's lei'y tn tlie Pen%ian PrntLCtinn Fund.
The to(al contributsons paid into the sLheme by the Union in respeci ot eligiblc employees for yeai. ended 31
July 2024 %eltied ihe debt in tull Lind aTnountcd to a tevalucd total nl £2,1)76,Y711122123.. £1.58. InQ}. The balance
of. the liability is £nil.
21. Related Party Trawctions
i) During the yeai., the Ui)ic)n reLeivLd £?,()20,(￿OI2*/2].. £I,￿64.870) Drant funding frorn I'hL University i)f
Ihc West of England al()ng with a ()nL' otl. b]￿k orant pttymeni Dt £1.98I.130. 1.here w8s al.40 a £149 (KK)
{?21" J: £14? IIIXII payineiit iii ru's￿¢1 cif rent i)lu.% £129,C)IK) 12212.3.. £1 ?9.61X)I tn re.%PL¢I of SFK)rt% Hdll
Lharges.
During tTr￿ yeiir, the Union made sale& to The University of the Wesl of England of £302,038 1?2123.
£337,35?l. At (he end the Union was owed £9,596122n3.. £13.31]1).
Duri]JE the year. the Union purchased services from The University of the West ot England of £491.7U5
122123.. £464.6801. At (he year end Ihe Union owed The University of thc West of England £nil 122123..
£7,031).
Within the first 9 months of (he 2024125 trath'ng yeu a pAymeni of £12,872 will be paid frorn UWESU
Service& to the UWE Students Union passing all irading profits with Ihe exception of £1 in accordance wrth
the group wliLy. Thei"e Wab also a muniE(Tement recharge of £223,410122r23.. £120,449) paid across to the
parent company.
The year end balanLe afier ilie 2023124 year end iransfers between ihe Union Jnd its.%ubsidiary was £72.305
{22123.. £374,862) in favour of the parent company.
34

UWE STUDENfs* UNION
Nknte% to the Financial staten￿nts
for the year ended 31 July 2024 (Continued)
b) Key rnanagement ￿rsOnnel..
Bethel Ekaette- Vice President Societi¢s & Communi¢a(ioll- Temi ended June 24
Olure Kolawole Samuel- President- 2 Terni
FayAZ Abdul K￿etrn- Vice President Community & Welfare- Term ended June 24
Krisl]na Singh- Vice Presideni Sports & Healtb- Terni ended June 24
Sabiha Khan - Vi¢e President Education- Tern] endcd June 24
Lubyna Gardezi- Vice President CollLmuni(y & Welfare- Commenced terni June 24
Khadiza Hossain- Vice President Education- Commenced term June 24
Urn￿ Abbasi- VP S￿ieties & Communi¢ation- Commenced terni June 24
MllharnD￿d Habib- VP Spons- ComMe￿¢d teEllL June 24
Titn BeAf(￿- ￿0
Michael Blades- Filla￿e Manager
The total remuneration of all of the aboye for the 2Y23 year was £291,267.I2￿3: £272.007)
21 Uiilmate Controlling Party
The controlling party of the Union are the Trnstees by virtue of their position under the Artide5 of AssLKiation.
23. Company tjmlted by Guarantee
Th¢ Dir¢¢tors of the Company are listed on Page 3 the lin)it of their guarantee is £1.
24. Reconaliation of net movement In funds to net c2sh flow from ope.rxting actlvltSes
Group
2024
Group
2023
£?o(M)
£yMo
Net move￿¢￿¢ in fvnds
1,638
13
Add back dq)re¢iation charEe
Deduct interest illeome. shown in inve8ting
¢t]vitie5
{Increase)IDecrease in stock
{InCreaSe)￿e¢reaSC in debtors
(IncKeas¢YDecrease in creditors
209
181
(4)
21
{1.957)
(73)
{201}
Net c*sh used In operatlng aetlvlties
(941
1601
25. CredStors- Long-temi liabilities over year
Group
2024
2023
2024
Pension
liabilities
1,740.885
1,740,885
1.740.885
1.740.885
35

UWE STUDENTS, UNION
Notes to the Flnanclal Statements
for the ye*r ended 31 July 2023 (Contlnued)
26. Compar&llve full 21122 SOFA
Uttrestricted
Funds
2023
Restricted
Funds
2023
Total
Funds
2023
Totsl
Fund%
2022
Incom¢fvm.'
Donations:
Blwk grant
Grani incom¢
Charitable activities:
Frc.%her5, %tudei!I shops ar.d bars
UJbiQtJ services. sw>llS and orher aciivitie$
Other tradlng activities:
Nursery and other trading
Inve5ttnents
1.930,(
48,030
1.930.0
48,036
1.640.(K)O
2.787.043
676,505
2,787.043
676.505
2.515.956
705,562
622,449
4,344
622.449
4,344
566,348
Totkl Income
6,068,377
5.428,010
Expenditiire oll..
Raising funds:
Nursery and other trading
Gi.￿￿nI expenth'ture
Charttsble activities:
r4reshers, student qhops and bars
LTnion services. 8w)rts and other activities
720,698
720,698
632,826
2.683.839
2.619.125
2.683.839
2,651.086
2,546,180
2,253,549
31,961
Total Expenditure
6,023,662
6,055.623
5,432,555
Net {expeD(UtureYlneome
44,715
(31,961)
12,754
(4￿45)
Fund balances brought forward
ii,i07,i87j
127.841
{979,346j
i974,80ij
Funds Balance at 31 July
ji,062,472j
{966,592i
36

UWE STUDENTS, UNION
Not￿ IA) t.he Finxneial Statsments
for tht year ended 31 July 2023 (Continued)
27. Comparative 21122 Funds movtments
Group
Fund balances at 31 July 2Q23
Represented by:
Restrieted Desl8nated
fund
General
funds
Tot41
Tangible fixed assets
Investments
95.880
426,373
522,253
6,462
632,225
(386,647)
11,740.885)
6,462
299,001
Current assets
333,224
I386.￿7)
Current liabilities
Long tertll liabilities
(1,740,885)
Totsi net *￿ets
95,880
11.435.4??1
372,v_sii
1966,592)
Charity
Fund balances at 31 July 2023
Represented by:
Restrieted
fwids
Designated
tllnd
General
funds
Total
Tangible fixed asseis
InN'e51menL4
Curreni a.8%ets
Cuireni liabilities
95,880
4?6,373
521 ?53
6,462
565,897
(320,3191
(1.740,885)
6.462
999.001
266.896
(320,319)
Long terni liabiliti¢s
{1,740.8851
Total net assets
95.880
11,435,422)
372,950
1(106.592)
28. Analy515 of thanRes In net debt
At
01108123
Cash
flows
Other non-
cash change5
At 31107124
Cash at bank and in hand
Debt due within one year
Debt due after rnore than one year
388.244
1.S.5.2.57
11.7411.X85i
(1,197,384)
5.898
138,167
2.036.970
2.181.035
394,141
293,424
1296,0851
i•£J6,11851
687.565
At
01108122
Cash
flows
other non-
cash changes
At 31107123
Cash at bank and in hand
Debt due within one year
Debt due after more than one year
569.547
82,090
(1.840,102)
(1,188.4641
(181,304)
73.167
156,216
48.079
388,244
155,257
11,740.885)
11,IY7,3841
{5f),9991
{56,999)
37