2023-07-31-accounts - University Of The Arts London Students' Union

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Trustee Report and Financial Statements For the year ended 31 July 2023

Contents .............................................................................................................................. 2 Company Information ........................................................................................................ 3 Trustees’ Report ................................................................................................................. 4 Objectives and Activities ................................................................................................... 4 How Governance Works at Arts SU .................................................................................. 7 Employees .......................................................................................................................... 7 Key Achievements .............................................................................................................. 9 Looking Forward ............................................................................................................... 12 Financial Review ............................................................................................................... 12 Income ........................................................................................................................... 12 Costs ............................................................................................................................. 12 Restricted Funds........................................................................................................... 12 Reserves Policy ............................................................................................................ 12 Risk Management......................................................................................................... 12 Relationship with the University .................................................................................. 13 Fundraising ................................................................................................................... 13 Public Benefit ................................................................................................................ 13 Affiliations ..................................................................................................................... 14 Small Companies Exemption ...................................................................................... 14 Statement of Trustees' Responsibilities ........................................................................ 16 Disclosure of Information to Auditors ........................................................................ 16 Independent Auditors’ Report................................................................. .......................17 Statement of Financial Activities ................................................................ ..................20 Balance Sheet ........................................................................................ ........................21 Cash Flows Statement ...................................................................................................22 Notes to the Financial Statements.................. ...................................... .......................23

Trustees’ Report

The Trustees, who are also directors of the company for the purposes of the Companies Act and trustees for charity law purposes, present their combined directors' and trustees' annual report together with the audited financial statements for the year 1 August 2022 to 31 July 2023. The Trustees confirm that the Annual Report and financial statements presented comply with the current statutory requirements, the requirements of the Union's governing document and the provisions of the Statement of Recommended Practice (SORP), applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).

The University of the Arts London Students' Union (Arts SU) was established under the Education Act 1994 and is a charitable company limited by guarantee. The University of the Arts London ('UAL') approves its internal regulations and rules.

Arts SU is governed by a Trustee Board of up to twelve members. This comprises six Student Officer Trustees and three student Trustees elected by members of Arts SU annually. Three non-student Trustees (also known as External Trustees) on the Board are appointed for their particular professional skills, knowledge and experience. The Trustee Board appoints the External Trustees and may serve an initial term of up to four years, renewable for one further term of up to four years.

Full details of current Trustees and those who served in 2022 - 2023 and who joined or left the Board in the period from 31 July 2023 up to the date of this report, together with the origination's principal advisors, can be found in Legal and Administrative Information on page 3.

All Trustees undertake an induction programme and are given briefings on the organisation’s operations and goals. The induction programme, delivered by the Company Secretary, covers the role of Trustee, provides an understanding of the legal responsibilities of being a Trustee, and - through meeting key Board members and senior staff members - provides an appreciation of Arts SU's vision, mission and values and the relationship between Trustees and staff team. In addition, the Chair of the Trustee Board attends training delivered by the Company Secretary, which outlines their specific role within the Trustee Board.

The Trustees are responsible for the overall performance and strategic direction of Arts SU on behalf of its members, over 20,000 University of the Arts London students. In this respect, the Board undertakes self-assessment and further development initiatives as required, ensuring they work to high standards.

Objectives and Activities

The objects of the charity are the advancement of education of students at the University of the Arts London for the public benefit by:

Promoting the interests and welfare of students at the University of the Arts London during their course of study and representing, supporting and advising students;
Being the recognised representative channel between students and the University of the Arts London and any other external bodies and
Providing social, cultural, sporting and recreational activities and forums for discussions and debate for the personal development of its students.

In shaping the Union's objectives for the year and planning its activities, the Trustees have considered the Charity Commission's general and relevant supplementary guidance on public benefit. In pursuit of these aims for the public benefit, the Union has established departments and services for its members and works with UAL and other organisations on behalf of UAL students. The Union sets its long-term priorities in line with its strategic plan, which is reviewed periodically and informed by research undertaken with UAL students and other relevant stakeholders. The Trustees and staff consider the strategic plan when setting the Union's annual objectives, articulated in a balanced scorecard and pursued by the Trustees and Union staff. The current strategic plan was due to end in June 2021, and due to the COVID-19 pandemic, the Trustee Board agreed to pause the creation of a new strategic plan until the summer of 2022 to allow a full assessment of the impact of the pandemic on the organisation. The Board has now agreed upon the new strategic plan, which will run between Jan 2023 and the end of the 2027 financial year.

How Governance Works at Arts SU

Arts SU operates on democratic principles, working for and with our members, the students of UAL. The Union's Student Sabbatical Officers represent students' voices and are elected by the membership of the Arts SU. The Union also operates an ideas platform through which students can propose and vote on motions alongside supporting a range of networks and student interns to ensure that the diversity of the student body is heard and acted upon within our work.

Day-to-day operational and staff management is delegated to the Chief Executive, who is responsible to the Trustees for strategy development, implementation and operational performance.

The Trustee Board meets at least five times yearly to receive reports from subcommittees, Officers, Senior Leadership and the Chief Executive to review the Union's strategic performance and administration generally and to agree on policy issues arising. The Union also employs a number of non-student core staff to provide continuity, consistency and knowledge in managing its many activities. The staff team is accountable to the Chief Executive for the performance of their duties.

Employees

We employed an average of 40 salaried staff members (36 in 2021/22) and employed 36 student staff team members (15 in 2021/22) during the same period.

We are a London Living wage employer. For career salaried staff, a discretionary cost of living increase was applied, which in 22/23 was 7% staff on Band 4 and below (2022:6%) while those on Band 5 and above received 5% COLA (2022:6%). One termination payment was made in 2022/23, totalling £34,637. Three employees (2022: one) earned a gross of £60,000 - £100,000 during the year after applying the discretionary cost of living increase and pay progression.

Key Achievements

The 2022 – 2023 financial year was a landmark year, with the highlight being creating a new strategic plan to take the organisation to 2027. Titled 'Students. Transforming', the plan seeks to harness the power of students to create transformational experiences and change in individuals, communities and at UAL.

In the 2022 -2023 financial year, the organisation focused on refining and agreeing with the plan, setting organisation KPIs for the life of the plan and aligning organisational, departmental, and individual objectives to the strategic plan. While completing this process, the organisation continued to work for the benefit of its members. In 2022/23, through the pursuit of its yearly operating plan, the Union recorded significant achievements in three key areas;

Student Opportunities

Showcasing the best-emerging creatives from UAL, Xhibit is our annual exhibition open to all current students. The exhibition reflects the diverse range of creativity at UAL and offers those involved a unique chance for collaboration, exhibition and development - championing their work to a broader audience. This year, Xhibit saw a 60% increase in the number of applications to the program. Through professional development days and exhibition support, the program supported 28 artists (22 in 2022) and one student curator to produce an external facing exhibition in April 2023.
Our Made in Arts London (MiAL) programme, which is now in its 11[th] year, launched its annual collection in September 2023, helping students develop their creative skills by providing project spaces and funding opportunities and supporting students in developing their creative enterprises.
We continued our Art + Tech series, supporting students to rethink how creative students engage with the virtual and digital environments.
The introduction of a Student Exhibitions Coordinator has seen an increased delivery of student-led exhibitions on various UAL campuses alongside an increased number of exhibitions focused on minority student populations, such as South Asian Heritage Month and Disability History Month.

Student voice and support

Our work on understanding research has grown in prominence this year. The work on the cost of living crisis has been leading sector-wide, with the result being shared with UAL and more widely in the higher education sector.
We launched ‘The Big Question’ for the second year, asking students about their motivation and aspirations regarding studying at UAL. Once again, the survey received over 1000 responses, making it the second most significant survey of the year. Once again, the results of this survey have been shared

widely across UAL, inviting the Union into discussions that it previously had not been.

We have embedded our new democratic structure, increasing our number of student officers from 2 to 4, recruiting two new student trustees and recruiting four new student interns for the first time.
We worked with UAL to steer the development of the University's support for students impacted by conflict and/or economic upheaval. Support has included extenuating circumstances, accommodation, finance, hardship funds, wellbeing support and communication.
We completed a submission to the Office for Students for UAL Teaching Excellence Framework submission to ensure that student voices were at the heart of decisions about the University’s educational quality.
We introduced two food parcel events and dinners across the UAL campus to give students over £5000 worth of food to support them in the cost-of-living crisis.

Student Community

Our Welcome Fair continued introducing students to the UAL Community, welcoming 3500 students through our doors.
We worked with colleagues in the institution to secure funding to ensure that all memberships to our clubs and societies are free, ensuring that finances are not a barrier to finding community at UAL.

A Quality Education

We trained and supported over 1000 student volunteers as Course Reps alongside facilitating Student and Dean Forums across all four colleges to ensure that the student voice is at the heart of the educational experience of students at UAL,
We received over 600 nominations from students for our annual Arts Awards, celebrating the contribution that staff at UAL and students make to students' educational attainment and personal and professional development.

THE ART OF Joy

Looking Forward

Financial Review

Income

Our total annual income increased to £4,082,822 (2022: £3,455,902). This was due to a significant increase in trading income.

Costs

Total expenditure for the year was £4,068,638 (2022: £3,311,892) which is an 23% increase on the previous year.,178 surplus).

Restricted Funds

These funds comprise monies held for Student Groups (ratified sports clubs and societies, which are branches of Arts SU) and grants received from UAL and other external organisations for specific student-facing projects. During the year income of £160,419 (2022: £106,364 income) and expenditure of £161,134 (2022: £94,900) resulted in a net deficit of £715 (2022: £11,464 surplus). Arts SU is a custodian of the funds the clubs and societies raise.

Reserves Policy

In December 2021, Arts SU revised its reserves policy so that its general (unrestricted) reserves should be a minimum of £300,000. Reflecting on the COVID 19 pandemic, at this level, the Trustees believe that we would be able to continue the student-facing activities of the organisation in light of the downturn in income from the COVID pandemic and the event of a significant decline in non-University funding whilst allowing time to re-establish or re-focus income-generating activities.

As at 31 July 2021, our total unrestricted reserves equated to £744,538 (£729,639 in 2022). The unrestricted funds include the designated funds of £277,690 for strategic development and fixed assets. Free reserves (after deducting fixed assets and designated funds) were £466,848 (£691,104 in 2022).

Risk Management

The Trustees are responsible for Art's SU risk management and the effectiveness of internal controls. On behalf of the Trustees and the Senior Leadership Team, at least once a year, and in November 2023, the findings and the mitigating measures were presented to the Audit and Risk Committee. The key risks and mitigations are outlined below:

KeyRisk	Mitigations
Decline in commercial (food and beverage)revenue and	• Ceased trading at two commercial outlets

impact on the financial viability of the organisation	• Increased investment in one commercial outlet to support diversification of the offer and improved customer engagement
NUS collapse/significant change/ shift in political power/ scandal	• The Board agreed to accept and monitor the risk due to the changing political landscape, but it may need to take action to safeguard financial risk due to the payment of an affiliation fee and reputation risk
Importance of a well-managed relationship with UAL	• Chief Executive objectives were set to focus on developing underutilised/poorly established relationships, improving communication and focus on showcasing the work and value of the Union
Lack of membership engagement	• Resources released to undertake a membership engagement review to identify areas of development
The ability to recruit and retain sector-leading staff	• Achievement of an Investors in People Accreditation • Additional resources provided by the HR and OD Team • Undertaking an EDI review to inform a renewed People Strategy (alongside other projects)

Relationship with the University

The Union receives a block grant from the University and occupies spaces in University-owned buildings. The occupation and use of these spaces are set out in the Memorandum of Understanding between Arts SU and the University. In addition to the provision of space, the University also pays for utilities, caretaking and cleaning staff. This support is intrinsic to the relationship between the University and Arts SU. Although Arts SU continues to generate supplementary funding from various mutual trading activities, it will always depend on the University's support.

The Trustees consider it reasonable to anticipate that this or equivalent support from the University will continue for the foreseeable future, as the Education Act 1994 imposes a duty on the University to ensure the financial viability of its student representative body in one form or another. Therefore, The Trustees consider the Union financially viable for the foreseeable future.

Fundraising

The charity had no fundraising activities requiring disclosure under S162A of the Charities Act 2011.

Public Benefit

When reviewing our objectives and planning our activities, we have considered the Charity Commission's general and relevant supplementary guidance on public benefit.

Affiliations

Arts Students' Union is affiliated to the following organisations. Membership, granted by the payment of an affiliation fee, entitles the Union to have a say in how the organisations are run or what focus they have. This may be a vote or a voice on working parties over and above other membership benefits, such as access to expert advice or information resources.

Organisation	Fee
National Union of Students(NUS)	£24,499
British Universities and Colleges Sport(BUCS)	£3566.61
Advice UK	£1735
National Council of VoluntaryOrganisations(NCVO)	£Nil
Association of College Unions International(ACUI)	$1804(£1449)

Confirmation of these affiliations was taken at the Annual General Meeting.

Small Companies Exemption

In preparing this report, the Trustees have taken advantage of the small companies' exemptions provided by section 415A of the Companies Act 2006. On Behalf of the Trustee Board.

On behalf of the Trustee Board

IlSsU Adviee ojiii. 19

Statement of Trustees' Responsibilities

The Trustees (also directors of the charitable company for the purpose of company law) are responsible for preparing the Trustees' Report and the financial statements per 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 they give a true and fair view of the state of affairs of the charitable company and of its net incoming resources and application of resources, including the income and expenditure, of the charitable company for that year. In preparing these financial statements, the Trustees are required to:

select suitable accounting policies and then apply them consistently;
observe the methods and principles in the Charities SORP;
make judgments and accounting estimates that are reasonable and prudent;
• state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements;
prepare the financial statements on a going concern basis unless it is inappropriate to presume that the charity will continue to operate.

The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charitable company's transactions and disclose with reasonable accuracy at any 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 to prevent and detect fraud and other irregularities.

Disclosure of Information to Auditors

Insofar as each of the Trustees of the charitable company at the date of approval of this report is aware, there is no relevant audit information (information needed by the charity's auditor in connection with preparing the audit report) of which the charitable company's auditor is unaware. Each Trustee has taken all of the steps they should have taken as a Trustee to make themselves aware of any relevant audit information and to establish that the charitable company’s auditor is aware of that information.

Approved and authorised for issue on behalf of the University of the Arts London Students’ Union on

On behalf of the Trustee Board

UNIVERSITY OF THE ARTS LONDON STUDENTS' UNION (registered company no. 07719030)

INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF UNIVERSITY OF THE ARTS LONDON STUDENTS' UNION FOR THE YEAR ENDED 31 JULY 2023

We have audited the financial statements of University of the Arts London Students' Union (the ‘charitable company’) for the year ended 31 July 2023 which comprise the Statement of Financial Activities, the Balance Sheet, the Statement of Cash flows and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion, the financial statements:
give a true and fair view of the state of the charitable company’s affairs as at 31 July 2023 and of its income and expenditure for the year then ended;
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
have been prepared in accordance with the requirements of the Companies Act 2006.

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 that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

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

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

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

Other information

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

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

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

/Continued …

UNIVERSITY OF THE ARTS LONDON STUDENTS' UNION (registered company no. 07719030)

INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF UNIVERSITY OF THE ARTS LONDON STUDENTS' UNION FOR THE YEAR ENDED 31 JULY 2023

(Continued)

Opinions on other matters prescribed by the Companies Act 2006

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

the information given in the trustees’ report, which includes the directors’ report prepared for the purposes
• of company law, for the financial year for which the financial statements are prepared is consistent with the financial statements; and
the directors’ report included within the trustees’ report has been prepared in accordance with applicable legal requirements.

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 misstatements in the directors’ report included within the trustees’ report.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
the financial statements are not in agreement with the accounting records and returns; or
• certain disclosures of trustees’ remuneration specified by law are not made; or
we have not received all the information and explanations we require for our audit.
the trustees were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies’ exemptions in preparing the trustees’ report and from the requirement to prepare a strategic report.

Responsibilities of trustees

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

In preparing the financial statements, the trustees are responsible for assessing the 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.

/Continued …

UNIVERSITY OF THE ARTS LONDON STUDENTS' UNION (registered company no. 07719030)

INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF UNIVERSITY OF THE ARTS LONDON STUDENTS' UNION FOR THE YEAR ENDED 31 JULY 2023

(Continued)

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

We obtained an understanding of the legal and regulatory frameworks that are applicable to the charitable company and determined that the most significant are the Statement of Recommended Practice 'Accounting and Reporting by Charities' (SORP 2019), in accordance with the Financial Reporting Standard applicable in the UK (FRS 102) applicable to smaller entities and the Companies Act 2006.
We understood how the charitable company is complying with those frameworks via communication with those charged with governance, together with the review of the charity’s documented policies and procedures. The charitable company is required to comply with both company law and charity law and, based on our knowledge of its activities, we identified that the legal requirement to accurately account for restricted funds was of key significance.
The audit team, which is experienced in the audit of charities, considered the charity’s susceptibility to material misstatement and how fraud may occur. Our considerations included the risk of management override and allocation of costs to charitable activities and restricted funds.
Our approach was to check that the income from grants and donations were properly identified and accurately disclosed, that expenditure complied with the control procedures and was appropriately charged. We also reviewed the major journal adjustments along with unusual transactions and considered the identification and disclosure of related party transactions.

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

Use of our report

This report is made solely to the 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 as a body, for our audit work, for this report or for the opinions we have formed.

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

Knox Cropper LLP

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

UNIVERSITY OF THE ARTS LONDON STUDENTS' UNION

STATEMENT OF FINANCIAL ACTIVITIES (incorporating the Income and Expenditure Account) For the year ended 31 July 2023

Unrestricted Funds Note 2023 £ INCOME AND ENDOWMENTS FROM: Donations and legacies 2 3,572,689 Charitable activities 4 - Other trading activities 3 348,459 Other 5 1,255 TOTAL 3,922,403 EXPENDITURE ON: Charitable activities 3,907,504 TOTAL EXPENDITURE 6 3,907,504 14,899 Transfer between funds 15 - NET MOVEMENT IN FUNDS 14,899 RECONCILIATION OF FUNDS: TOTAL FUNDS AT 1 AUGUST 2022 729,639 TOTAL FUNDS AT 31 JULY 2023 744,538 £ Net income	Restricted Funds 2023 £ - 160,419 - - 160,419 161,134 161,134 (715) - (715) 93,999 93,284 £	Total Funds 2023 £ 3,572,689 160,419 348,459 1,255	Total Funds 2022 £ 3,215,799 95,564 134,539 -
		4,082,822	3,445,902
		4,068,638	3,311,892
		4,068,638	3,311,892
		14,184 -	134,010 -
		14,184 823,638	134,010 689,628
		837,822 £	823,638 _£ _

UNIVERSITY OF THE ARTS LONDON STUDENTS' UNION

Company limited by guarantee (registered company no. 07719030)

BALANCE SHEET As at 31 July 2023

Notes Charity 2023 £ FIXED ASSETS Tangible assets 12 #REF! CURRENT ASSETS Stocks 16,305 Debtors 13 20,310 Cash at bank and in hand 1,034,987 1,071,602 CREDITORS: amounts falling due within one year 14 (288,745) NET CURRENT ASSETS 782,857 TOTAL ASSETS LESS CURRENT LIABILITIES #REF! TOTAL NET ASSETS #REF! FUNDS Unrestricted funds: Designated funds 15 277,690 General fund 15 466,848 744,538 Restricted funds 15 93,284 837,822 £	Group Charity 2023 2022 £ £ 54,965 #REF! 16,305 #REF! 24,052 #REF! 1,034,987 #REF! 1,075,344 #REF! (292,487) #REF! 782,857 #REF! 837,822 #REF! 837,822 £ #REF! 277,690 - 466,848 729,639 744,538 729,639 93,284 93,999 837,822 £ 823,638 _£ _	Group 2022 £ 38,535 8,233 23,867 937,809
		969,909 (184,806)
		785,103
		823,638
		823,638 _£ _
		- 729,639
		729,639 93,999
		823,638 _£ _

The financial statements have been prepared in accordance with the special provisions in Part 15 of the Companies Act 2006 relating to small companies and section 1a of the Financial Reporting Standard 102.

The financial statements were approved, and authorised for issue, by the Board of Trustees on 2024/02/26 ______ and signed on their behalf by:-

Minna Ellis

________, Trustee

The annexed notes form part of these financial statements

UNIVERSITY OF THE ARTS LONDON STUDENTS' UNION

CASH FLOW STATEMENT For the year ended 31 July 2023

Cash flows from operating activities Surplus for the financial year Adjustments for: Depreciation Increase in stocks (Increase)/decrease in debtors Increase in creditors Cash flows from investing activities Purchase of tangible fixed assets Net increase in cash and cash equivalents Cash and cash equivalents at 1 August 2022 Components of cash and cash equivalents Cash at bank and in hand Cash and cash equivalents at 31 July 2023	At 1 August 2022 937,809 £	2023 £ 14,184 23,636 (8,072) (185) 107,681 137,244 (40,066) 97,178 937,809 1,034,987 £ Cashflows 97,178 £	2022 £ 134,010 12,648 (3,467) 40,076 84,523
			267,790 (15,842)
			251,948 685,861
			937,809 _£ _
			At 31 July 2023 1,034,987 £

UNIVERSITY OF THE ARTS LONDON STUDENTS' UNION

NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 July 2023

1. ACCOUNTING POLICIES

Basis of preparation of financial statements

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

Going Concern

As described in the Trustees’ Report, COVID has had a significant impact on Arts SU in 2020/21. However, the Union continued to offer integral student support at UAL. After making enquiries, the trustees have a reasonable expectation that the charity has adequate resources to continue its activities for the foreseeable future. Accordingly, they continue to adopt the going concern basis in preparing the financial statements as outlined in the Statement of Trustees' Responsibilities in the Annual Report.

Company status

The University of Arts London Students' Union is an incorporated charity: a private limited company limited by guarantee and charity registered in the UK (Charity number 1143161. Company Number: 07719030). Its registered office is at Arts SU, 272 High Holborn, London, WC1V 7EY.

The principal activities are campaigning, representation, provision of social activities and the organisation of sporting and recreational activities and opportunities. The Charity meets the definition of a public benefit entity as defined by FRS102.

Fund accounting

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

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

Restricted funds raised and administered by the Union for specific purposes as determined by students, such as Club and Societies Accounts, as well as revenue received for purposes specified by the donor and also (if not material enough to require a separate column in the SoFA) any small capital grants received from the University.

Designated funds comprise unrestricted funds that have been set aside by the Trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements.

UNIVERSITY OF THE ARTS LONDON STUDENTS' UNION

NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 July 2023

Incoming resources

All income and capital resources are recognised in the accounts when the entitlement to the income or endowment arises, there is probable economic benefit to the Union and the amount can be reliably quantified.

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

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

Media sale income includes sponsorship relating to Fresher Fair stalls, which is accounted for when the contractual entitlement to the income arises, and NUS Extra card income which is accounted for based on sales arising in the period.

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

Resources Expended

Expenditure is accrued as soon as a liability is considered probable, discounted to present value for longer term liabilities. Expenditure includes irrecoverable VAT and comprises the direct and indirect costs of delivering public benefit. Governance costs are those incurred for compliance with constitutional and statutory requirements, such as the annual audit, annual elections and training for sabbatical officers.

Other central overhead costs, as well as governance costs, are apportioned to charitable and other projects/activities on a usage basis, pro rata to the total costs of each project or activity undertaken.

Tangible fixed assets and depreciation

Fixed assets are stated at cost less accumulated depreciation. Assets are not capitalised below £500 cost per item/set. Equipment, fixtures and fittings are included at cost. Depreciation is provided at the following annual rates in order to write the cost of assets off over their estimated useful lives:-

Fixtures and Fittings 25% per annum on cost Computer and Office Equipment 25% per annum on cost

Termination benefits

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

Stocks

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

UNIVERSITY OF THE ARTS LONDON STUDENTS' UNION

NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 July 2023

Debtors

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

Cash at bank and in hand

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

Creditors and provisions

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

Financial Instruments

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

Pensions

The charity is part of a defined contribution pension scheme. Contributions are charged to the Statement of Financial Activities as they become payable in accordance with the rules of the scheme.

Judgements and key sources of estimation uncertainty

Judgements and key sources of estimation uncertainty are detailed in the above accounting policies, where applicable.

2. DONATIONS AND LEGACIES

University Block Grant University other grants Space Grant	Unrestricted Funds 2023 £ 2,047,689 25,000 1,500,000 3,572,689 £	Restricted Funds 2023 £ - - - Nil £	Total Funds 2023 £ 2,047,689 25,000 1,500,000 3,572,689 £	Total Funds 2022 £ 1,512,000 203,799 1,500,000
				3,215,799 _£ _

UNIVERSITY OF THE ARTS LONDON STUDENTS' UNION

NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 July 2023

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

Unrestricted Funds 2022 £ University Block Grant 1,512,000 University other grants 192,999 Space Grant 1,500,000 3,204,999 £ 3. INCOME FROM OTHER TRADING ACTIVITIES Unrestricted Funds 2023 £ Trading income 327,276 Event income 21,183 348,459 £ *Comparative income from other trading activities* Unrestricted Funds 2022 £ Trading income 120,474 Event income 14,065 134,539 _£ _	Restricted Funds 2022 £ - 10,800 - 10,800 £ Restricted Funds 2023 £ - - Nil £ Restricted Funds 2022 £ - - Nil £	Total Funds 2023 £ 327,276 21,183 348,459 £	Total Funds 2022 £ 1,512,000 203,799 1,500,000
			3,215,799 _£ _
			Total Funds 2022 £ 120,474 14,065
			134,539 _£ _
			Total Funds 2022 £ 120,474 14,065
			134,539 _£ _

UNIVERSITY OF THE ARTS LONDON STUDENTS' UNION

NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 July 2023

4. INCOME FROM CHARITABLE ACTIVITIES Unrestricted Funds 2023 £ Clubs and Societies - Nil £ *Comparative income from charitable activities* Unrestricted Funds 2022 £ Clubs and Societies - Nil £ 5. OTHER INCOME Unrestricted Funds 2023 £ Other income 1,255 1,255 £ *Comparative other income* Unrestricted Funds 2022 £ Other income - Nil £	Restricted Funds 2023 £ 160,419 160,419 £ Restricted Funds 2022 £ 95,564 95,564 £ Restricted Funds 2023 £ - Nil £ Restricted Funds 2022 £ - Nil £	Total Funds 2023 £ 160,419 160,419 £ Total Funds 2023 £ 1,255 1,255 £	Total Funds 2022 £ 95,564
			95,564 _£ _
			Total Funds 2022 £ 95,564
			95,564 _£ _
			Total Funds 2022 £ -
			Nil £
			Total Funds 2022 £ -
			Nil £

UNIVERSITY OF THE ARTS LONDON STUDENTS' UNION

NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 July 2023

6. RESOURCES EXPENDED Cost of sales £ Cost of charitable activities Student Engagement - Student Support - Student Activities - Entertainment and Events - Marketing and Communications - Projects - Commercial Activities 111,018 Restricted funds Clubs and socieites - Total charitable expenditure 111,018 £ *Comparative resources expended* Cost of sales £ Cost of charitable activities Student Engagement - Student Support - Student Activities - Entertainment and Events - Marketing and Communications - Projects - Commercial Activities 35,313 Restricted funds Clubs and socieites - Total charitable expenditure 35,313 _£ _	Staff Costs £ 268,951 245,324 551,733 160,697 154,208 5,471 316,579 - 1,702,963 £ Staff Costs £ 212,214 240,370 319,390 133,867 129,918 4,166 199,049 - 1,238,974 _£ _	Rent £ 555,000 165,000 300,000 60,000 90,000 15,000 315,000 - 1,500,000 £ Rent £ 555,000 165,000 300,000 60,000 90,000 15,000 315,000 - 1,500,000 _£ _	Other costs £ 128,826 22,061 283,653 43,834 38,378 1,601 85,310 150,994 754,657 £ Other costs £ 140,624 30,122 151,479 32,948 23,635 2,339 67,923 88,535 537,605 _£ _	Total 2023 £ 952,777 432,385 1,135,386 264,531 282,586 22,072 827,907 150,994
				4,068,638 £
				Total 2022 £ 907,838 435,492 770,869 226,815 243,553 21,505 617,285 88,535
				3,311,892 _£ _

Resources expended include:

			2023	2022
Depreciation	-	on owned assets	23,636	12,648

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

UNIVERSITY OF THE ARTS LONDON STUDENTS' UNION

NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 July 2023

7. CENTRAL OVERHEAD COSTS

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

Usage % Cost of charitable activities Student Engagement 37% Student Support 11% Student Activities 20% Entertainment and Events 4% Marketing and Communications 6% Projects 1% Commercial Activities 21% expenditure *Comparative central overhead costs* Usage % Cost of charitable activities Student Engagement 37% Student Support 11% Student Activities 20% Entertainment and Events 4% Marketing and Communications 6% Projects 1% Commercial Activities 21% Total charitable expenditure SUPPORT COSTS Affiliations and subscriptions Activities direct costs Insurance Audit Fee Training and Development Bank charges Office equipment Recruitment Expenses Sundry Costs	Staff Costs £ 202,411 60,176 109,412 21,882 32,823 5,471 114,882 547,057 Staff Costs £ 154,135 45,824 83,316 16,663 24,995 4,166 87,482 416,581	Rent £ 555,000 165,000 300,000 60,000 90,000 15,000 315,000 1,500,000 Rent £ 555,000 165,000 300,000 60,000 90,000 15,000 315,000 1,500,000	Support costs £ 59,221 17,606 32,012 6,402 9,603 1,601 33,612 160,057 Support costs £ 86,547 25,730 46,782 9,356 14,035 2,339 49,121 233,910 2023 £ 32,282 35,883 13,857 10,004 20,822 5,630 4,608 - 36,971 160,057	Total 2023 £ 816,632 242,782 441,424 88,284 132,426 22,072 463,494
				2,207,114
				Total 2022 £ 795,682 236,554 430,098 86,019 129,030 21,505 451,603
				2,150,491
				2022 £ 40,287 97,760 16,288 10,200 6,091 5,019 6,827 6,415 45,023
				233,910 _£ _

8. SUPPORT COSTS

UNIVERSITY OF THE ARTS LONDON STUDENTS' UNION

NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 July 2023

9. STAFF NUMBERS AND COSTS

STAFF NUMBERS AND COSTS
Wages and salaries Social security costs Pension costs Permanent staff Student staff The cost of key management was as follows: Sabbatical Officers Senior management Number of Sabbatical Officers The average weekly number of employees, head count, during the period was:	2023 £ 1,517,642 147,936 37,393 1,702,963 Number 41.0 32.0 73.0 £ 184,717 185,337 370,054 £ 6	2022 £ 1,106,581 110,410 21,983
		1,238,974 _£ _
		Number 34.0 15.0
		49.0
		£ 142,127 219,220
		361,347 _£ _
		4

Three (2022 - one) employee received remuneration of more than £60,000. The accounts include termination payments totalling £26,416 (2022 - £nil).

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

Full time sabbatical officers in post were paid an annual salary of £30,026 (2022: £27,425). Total costs are shown in note 9. A handover for Sabbatical Officers was introduced this year which increased salary costs.

UNIVERSITY OF THE ARTS LONDON STUDENTS' UNION

NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 July 2023

10. TRUSTEES REMUNERATION AND BENEFITS

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

No members of the Board of Trustees received reimbursement of expenses (2022 - £nil).

11. Taxation

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

12. TANGIBLE FIXED ASSETS

Cost At 1 August 2022 Additions At 31 July 2023 Depreciation At 1 August 2022 Charge for the year At 31 July 2023 Net book value At 31 July 2023 At 31 July 2022 DEBTORS 2023 Due within one year £ Trade debtors 10,629 Prepayments 9,818 VAT repayment due - Other debtors (137) 20,310 £	2023 2022 £ £ 10,629 #REF! 9,818 #REF! 3,742 #REF! (137) #REF! 24,052 £ #REF!	Fixture and fittings £ 139,256 40,066
		179,322
		100,721 23,636 124,357
		54,965 £
		38,535 _£ _
		2022 £ 8,761 5,869 9,361 (124)
		23,867 _£ _

13. DEBTORS

UNIVERSITY OF THE ARTS LONDON STUDENTS' UNION

NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 July 2023

14. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Trade creditors Deferred income Social security and other taxes Other creditors VAT creditors Accruals Deferred income Balance at 1 August 2022 Amount released to incoming resources Amount deferred in the year Balance at 31 July 2023 STATEMENT OF FUNDS Brought Forward £ DESIGNATED FUNDS Strategic Development Fund - Fixed Assets and Premises Fund - Nil £ RESTRICTED FUNDS Clubs and Societies 55,471 RAG 1,289 Equalities & Wellbeing 26,583 Elite Atheletes (1,273) Access & Inclusion 6,244 Arts Active 5,685 93,999 £ SUMMARY OF FUNDS Designated Funds - General Funds 729,639 729,639 Restricted Funds 93,999 823,638 £	Charity 2023 £ 44,769 - 75,933 117,102 (3,742) 54,683 288,745 £ #REF! #REF! - #REF! Incoming Resources £ - - Nil £ 151,407 - - 6,000 3,012 - 160,419 £ - 3,922,403 3,922,403 160,419 4,082,822 £	Group Charity 2023 2022 £ £ 44,769 #REF! - #REF! 75,933 #REF! 117,102 #REF! - #REF! 54,683 #REF! 292,487 £ #REF! 3,512 (3,512) - - #REF! Nil £ #REF! Transfers and Resources investment Expended gains/(losses) £ £ (37,209) 259,934 (23,636) 78,601 (60,845) £ 338,535 £ (150,994) - - - (6,190) - (3,875) - - - (75) - (161,134) £ Nil £ (60,845) 338,535 (3,846,659) (338,535) (3,907,504) - (161,134) - (4,068,638) £ Nil £	Group 2022 £ 96,389 3,512 42,678 8,523 - 33,704
			184,806 _£ _
			316,913 (316,913) 3,512
			3,512 _£ _
			Carried Forward £ 222,725 54,965
			277,690 £
			55,884 1,289 20,393 852 9,256 5,610
			93,284 £
			277,690 466,848
			744,538 93,284
			837,822 £

15. STATEMENT OF FUNDS

UNIVERSITY OF THE ARTS LONDON STUDENTS' UNION

NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 July 2023

15. STATEMENT OF FUNDS (continued)

Comparative statement of funds for the year ended 31 July 2022

*DESIGNATED FUNDS* Designated Funds *RESTRICTED FUNDS* Clubs and Societies RAG Equalities & Wellbeing Elite Atheletes Access & Inclusion Arts Active *SUMMARY OF FUNDS* General Funds Restricted Funds	*Brought* *Forward* £ - *48,442* *1,289* *15,783* *5,092* *6,244* *5,685* *82,535* £ *607,093* *607,093* *82,535* *689,628* £	*Incoming* *Resources* £ - *95,564* - *10,800* - - - *106,364* £ *3,339,538* *3,339,538* *106,364* *3,445,902* £	*Transfers and* *Resources* *investment* *Expended gains/(losses)* £ £ - - *(88,535)* - - - - - *(6,365)* - - - - - *(94,900)* £ *Nil* £ *(3,216,992)* - *(3,216,992)* - *(94,900)* - *(3,311,892)* £ *Nil* £	*Carried* *Forward as at* *31 July 2022* £ - *55,471* *1,289* *26,583* *(1,273)* *6,244* *5,685*
				*93,999* £
				*729,639*
				*729,639* *93,999*
				*823,638* £

The designated funds are part of the block grant given by the University of the Arts to help the Union in its transition through to campus based activities.

The restricted funds include Club and Society funds, monies raised by Raise and Give (RAG) activities and student activities financed by specific grants.

The RAG Society become dormant partway through 2021-22. The new members will take the decision for these retained funds after reactivating the society.

Arts Active Fund was initially created to support the delivery of student activities remotely during the pandemic. As the Union returned to face-to-face activity towards the end of 2021-22, the scope and approach to delivery of these activities has been changed to reflect this, and is now being delivered by the recently recruited Wellbeing and Liberation Coordinator.

Spending for Equalities & Wellbeing Fund has been allocated towards the projects created by the 22/23 Sabbatical Officer team to supporting students with cost of study and cost of living.

Access & Inclusion Fund was allocated to the DIVA society who ceased to exist from 2020/21. As such, the Community Development team will use these funds throughout this year to ensure SU-led activity is more accessible.

Strategic Development Fund has been allocated towards the projects from 22/23. The fund is created to support Union's commitment to it's strategic development and good financial stewardship over the next 4 years.

UNIVERSITY OF THE ARTS LONDON STUDENTS' UNION

NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 July 2023

16. ANALYSIS OF NET ASSETS BETWEEN FUNDS

Unrestricted Funds Designated General Funds Funds £ £ Tangible fixed assets - 54,965 Net current assets 277,690 411,883 277,690 £ 466,848 £ *Comparative analysis of net assets between funds* *Unrestricted Funds* *Designated* *General* *Funds* *Funds* £ £ Tangible fixed assets - *38,535* Net current assets - *691,104* *Nil* £ *729,639* £	Restricted Funds £ - 93,284 93,284 £ *Restricted* *Funds* £ - *93,999* *93,999* £	Total Funds £ 54,965 782,857
		837,822 £
		*Total* *Funds* £ *38,535* *785,103*
		*823,638* £

17. PENSION COMMITMENTS

Pension costs in note 9 relate to payments made to a defined contribution pension scheme. The charitable company’s liability is limited to making the payments due to the scheme on a timely basis. The liability at the 31 July 2023 is £7,552 (2022 : £5,684).

18. RELATIONSHIP WITH UNIVERSITY OF ARTS LONDON

The University of Arts London provides the Union with an annual grant as shown in the Statement of Financial Activities, including a Space Grant which contributes to the costs which the Union incurs in occupying spaces owned by The University of Arts London. The value to the Union for the space grant is considered to be £1,500,000 (2022: £1,500,000).

19. CONTROLLING PARTY

Ultimate control of the Union rests with its membership, respresented by the Board of Trustees.

UNIVERSITY OF THE ARTS LONDON STUDENTS' UNION

NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 July 2023

20 COMPARATIVE STATEMENT OF FINANCIAL ACTIVITIES Unrestricted d Total Unrestricted Funds s Funds Funds 2023 3 2023 2022 £ £ £ £ INCOME AND ENDOWMENTS FROM: Donations and legacies 3,572,689 3,204,999 Charitable activities 160,419 - Other trading activities 348,459 134,539 Other 1,255 - TOTAL 4,082,822 3,339,538 EXPENDITURE ON: Charitable activities #REF! 3,216,992 #REF! 122,546 NET MOVEMENT IN FUNDS #REF! 122,546 TOTAL FUNDS AT 31 JULY 2021 823,638 607,093 TOTAL FUNDS AT 31 JULY 2022 #REF! 729,639 £ Net income	Restricted Funds 2022 £ 10,800 95,564 - -	Total Funds 2022 £ 3,215,799 95,564 134,539 -
	106,364	3,445,902
	94,900	3,311,892
	11,464	134,010
	11,464 82,535	134,010 689,628
	93,999 _£ _	823,638 _£ _

Registered Office	Arts SU, 272 High Holborn, London, WC1V 7EY	Arts SU, 272 High Holborn, London, WC1V 7EY	Arts SU, 272 High Holborn, London, WC1V 7EY	Arts SU, 272 High Holborn, London, WC1V 7EY
Charity Registration Number	1143161
Company Registration Number	7719030
Company Secretary	Nick AJ Smith Consultancy Ltd.
	Name		Date Appointed	Date Terminated
Board of Trustees
	Armani Sutherland Kim Hughes Ti’Onne Debnam Minna Ellis Ellie Short Sophia Nasif-Whitestone Daryl Elaine Stenvoll-Wells Dawn Buchanan Emma Mottram Richard Mead Qingbo Du Katwamba Mutale Alyshia Jack Daniela Commey Alexandra-Stefania Barbulescu		1 July 2021 1 July 2022 1 July 2022 1 July 2022 1 July 2022 1 July 2022 16 February 2022 16 February 2022 16 February 2022 23 February 2023 23 February 2023 1 July 2023 1 July 2023 1 July 2023 1 July 2023	30 June 2023 30 June 2023 30 June 2023 30 June 2023
Principal Officers	Opeyemi Gbajobi Christina Kennedy Natasha Etti Martin Dodd	Chief Executive Deputy Chief Executive(on maternity leave from April 2023) Director of Finance(August 2023 – March 2023) Deputy Chief Executive (Operations and Services)(from April 2023) Head of Policy, Representation and Advocacy(August 2023 – March 2023) Deputy Chief Executive (Membership)(from April 2023)

Professional Advisors	Auditors Knox Cropper LLP 65 Leadenhall Street London EC3A 2AD Solicitors Bates Wells and Braithwaite 2 – 6 Cannon Street London EC4M 6YH