2023-07-31-accounts

Rèport ofth• Trnstees and FkHn¢ial Statements forthe Year Ended 31 July 2023 SCHOOL OF ORIENTAL AND AFRICAN STUDIES STUDENTS, UNION Kr￿X CmppEr LLP Chartwed Accountants and Ststutory Audltors 153 -155 Lon(lon Road Hemel Hempstead Hertfoidshire HP3 9SQ

SCHOOL OF ORIETr¥fAL AND AFRICAN STUDIES STUDENTS. UNION Contents of the Flnanclal Statèm•nts forthè Yow Endod 31 July 2023 Page R•port of tho TnMto09 1 to 8 Report of the Indgpend•nt Audltors 9 to 11 statom•nt of Financial ActMII•s 12 Balance Sheet 13 C88h Flow Statomgnt 14 Notss to thg Cash Flow Statem•n¢ 15 Notes to the Financlal Stat•mwts 16 to 27

SCHOOL OF ORIENTAL AND AFRICAN STUDIES STUDENTS. UNION Report of the Trustses for the Year Endod 31 Juty 2023 The trustees presenl Iheir report with the ffinancial ststements of the charity for the year ended 31 July 2023. The Irustses have adopted th8 promsions of A(￿U￿ting and Reporting by Charities.. Stslemenl of Reeommended Praclice applicable to charibes prepaiing their accounts in accor(ar￿e with the Financial Rwbng Standard applicabl8 in the UK Reput4ic of Ireland IFRS 1021 leffeclive 1 January 2019}. OBJECTIVES AND ACTIVITIES Alms, ObJe¢tlves and ActlvSt1¢8 SOAS Students, Union's Charitable Obj8cts are the following.. Union's objec15 are the adV￿Cernent of education of SI￿nts al The Schod Of 0￿ental and Afrlcan Studies forthe p￿11¢ benefit by.. 1. prom0tw￿ the interests and wetrare of siuderts at The Schod of Oriental and Afrfcan Studies (Unlv8rslty of London) during Ihpir cOu￿e of study and representing. supporting and aoknsing students,. 2. being the r￿ognISed representatfve channd betsRen Students and The School of Oriental ￿ African st￿lies any other extemal t#)dies'. 3. and providi￿j sooal, ￿ltUral, SForting and recrealignal aGtivibes and forums for discussions and ¢Jebate for the perS￿al developm￿ of its students. tn pursuit of these aims for Ihe PL*slie benefit. SOAS SU wll ensure the dSversity of Its membwship Is recognised, valued and SL4)POrted and has established serwces for usa by its members to swport its work ithin SOAS. These liclude over 120 51udent4ed socyaties, campaigns groups & sports teams, our advicg servi￿. the Co￿89 Rewesontative sthwne in 8ddibon lo curating our s￿1?1 spaces and ev￿ts. Tha Union continues lo represent SOAS students on relevant I￿al. national and intemational issues through our Executive Committee, Sabbatical Offiws and Course Reps based at a local I￿1 in Departments. Sludenl represenlalNes sit on all the relevant decision-makirg committees of the School induding the SOAS Boord of Trustees. Student representstives attend deparlmental meetirvJs and take part in SOAS. policy development. strategic decision-maknn9 and Working group5. Th8 Unw works wth the Schc<)I's professional sewvices to Greats a bettgT gxperlencA8 for SOAS studen including the Student Experience. Engagement & Retention Team, Ihe Slud8nt Adv￿0 & Wellbeing Service, Ihe Careers SeNce and Widenwig Participal￿ft departrnenl. Through our societies and campaigns sttjdents volunlegr in the commuryty. fundfaise and raise awareness of local and global concems. We continued our Enough is Er¥)ugh pr¢￿raMme, a 5bJdent4ed inib"ative delivering consent education to tackle sexual & g8nder-bas8d violence. The Union has ￿ntinUed lo work wlh the Sthool on studenl4nitialed projects around decolonising edueAtion and the institutton. When reviewng our obiectives and plaming our acti￿ti8s. W8 give due consideralion lo the Charity commi￿on'S generd and relevant supplementsry guidortt on publi benefit Page 1

SCHOOL OF ORIEKfAL AND AFRICAN STUDIES STUDEPWJ. UNION Rgport of the Trustws for the Yet Ended 31 Juty 2023 ACHIEVEMENT AND PERFORMANCE The v40th of Ihe Union was focused ¢)n adaptirttJ to the increasing ￿dS of our members. rewesenting those needs to the sch￿1. devdoping apF)rowate strategies for the volatil8 unc£rtain contex¢ we found Jrs8lves in whi15t maintsining financial sustainatxlity. 2￿2-23 saw a rebJm to a rnw normal for campus ￿ll￿ty, wth more tehY3 t8klng FAarA in pets)n. However. as in premous years Ihgre were a number of periods CA industrial action vhich resutt￿ in fijrther disnjpthon and challenges contin1￿d to affect our o)mmerr#al serv1r￿. The staff team devdoped new pattems of delivery around a hybrid vKJrlllng enmronmenl ert11r￿ us to stsbilise provwJe appropri8te 18vels of SUPFKJrt for ￿dent actwiiles. Promoting th• Intfjro9ts and welFare of studgnts at The School of Oriental and Afrlcan Studies {Univorsity of London) during thelr cour¥• of study and representing• ¥UPPOrtlrwJ ar￿ advising sludents The Admee Semce. row in its fifth year. provldes a bespoke. confidential advice seNice to strKlents at SOAS on matters from acodemi¢ and wellbeing issues to housing and eempl8ints. Thwe was a increase in Ihe totsl number of students who acLessed th8 s8nrice in 2022-23. wth 677 students using the 8eNlce. in comparigon to 406 students in 2021-22, showing an inc¥eased demand in students for supKK>rt tr￿n StUfJents' un￿ post-COWD. The most common areas Ihat students sought SUPFQrt from the Advi( Service relatsd lo Mitigating Circumstancas and ApFeals. each of which made up (¥)&third of the lotsl enquiriès. The Advice Service also increasingly saw students wth coneems surrounding mental health 8nd stu(ty inclusic plans. ErKbugh is Enough We delivered the seventh year of our Enough is Enough consent &JJcal'on prog8mrne. In 2021-22 we recwed ffijnding to apwnt a part-time staff member to the role, whi¢h Into 2022-21 The propct Is respon¥ble for. • rwslng awareness of SGBV (Sexual Gender BaJ VicAencel Lvi omKMts and educa1ing sbjdents abwt onsenl maknng the repOrti￿j systems and support available at SOAS ac£esslbfe to those vtho need them. understanding Str￿tureS that uphold a'rape culLJre' and how this perpetuales SGBV on campus ' gmng stsjd￿ts the tools to creat8 a 'consent cutture. on Gampus and in th￿r lfves off compus. In 20T2123 the project deliver&J over 160 ￿er-Ij workshops - Ihe highest nwnber of workshops ddivered in a single year snce the projècfs Inception. Th8S8 sessions are one of the ￿ryest wdertakbngs of th8 welcoTh and induction programme ddNered by eitherthe unIv￿￿ty or Union. We worte(l aga￿ wth sumvors cdlective Not the Onty One propct to deliver SGBV survfvor supp)rt wups which ran t￿Ough0Ut the year. E￿agement rema#ied high wrth the demotxatic wocesses Ihrough¢xrt the year. wlh rwor preferenda held. In June 2023 we held our Annual General Meetir@. wth over one hUnd￿d students in attendance. The mandates that students approved across these forums tr￿0)rne pri￿ltieS for the SU to Ihen act on. The mandates mged from impromng suslain8bility within the Union and University. tQ SUFq)OTlirNJ a Casle Campaign. 8ddressing S￿rIll$810￿, and lobbylng the uniwsity to fèviaw the m￿gOting cIr￿M518nC8S policy. Page 2

SCfrKIOL OF ORIENTAL AND AFRICAN STUDIES STUDEpifs' UNION Report of the Trusteej fort￿ Year Ended 31 Juty 2023 FdkMir& the Govemance and Democracy Review a new Part-Time Officer slnjcture vras implemented. The Exe¢xtive Committee, who is re5pon5ible for the political and Campai&￿ing fijnctions of the Union is now comprised of the four CIFPresidents. 6 Liberalh?n Caucus Delegates. 8 Port1￿10 Part-fime Offi¢xs and 1 Researth Sbjdents Association Delegate. Thls ￿slAted in thè eslablithmènt of 6 autonomoLts libèration caucuses who each nominated a ddegate of the cwcus lo the ExeOjt￿e Commiltsa, as did the Research Students Associaticfft. The Spring El￿tionS. in which the Sabbatical Officers Icfftsidentsl were electsd for the 2023-24 year saw a tumout of 1652 students, or 24Y• of the eligible student tÉdy, this was a 10°h increase from 2022 and 81 fell 100k over the Sector average whlch fell at 13.14¥0 in 2023. We al￿ saw an increase in the number of candidates for Sabbatical rol8s, increasing from 16 to 20 candidates across the four roles. During the Sprlng EleGtion5 Ihe Portfolio Part-Time offi￿[5 for the 2022-23 year were also elected. B?Ing tho rocognlsgd reprnsonlatlvo channel bell￿0n students and The School of Orl•ntsl and AfrI￿n Studies and any other 8xt8mal bodlfjs Rèpr88•ntatlon The Stud8n15' Union Continued to delNer The Rep Netr4Drk scheme in partnership wth the University with moTe than 200 representatives across courses. departments and col¥. 2022-23 saw the a(klitL)n of paid College Reps to the sludent representstive strJeture, enhgnung rep￿sentatiOn across all levels and colle￿8 ross the institution 8nd ensuring that there are appropriatè than￿lS to escalate feedbad(. The most C4)mmon theme5 of feedback reported through The Rep Netswrk in 2022-23 related lo o)ur5e aTh schod adminislralion. module content, exam organisalion, welfare and support and lectwer5. Durfro the Na11onal Student Survey In 2023, SOAS Students, Union seored slhjhly 8bove Ihe benchmarf( In relation lo the ¢westion 'How wdl does the students. union la$sociation or guild) represent sludenls. academic literes￿,, wlh 70.40A of students responding favourabty to the questions. This evid8nces the credibility of the Students, Union in representing the student vthce. This was a significant increase in comparison to the 2022 da18 and show8 the growth Ihat Ihg Students, Union 15 havirg in thi5 area. The StLJents' Union also promded a stLKlenl submission for the Teathing Excellence FramewuK 5etbng (Krt sbjdent eyperiencÈ al SOAS. In the TEF SOAS scored a &lver ¢)verall and eronze for StLbdent Experience. Provkllng so¢l•l, cultural, SPC•rtlng ond r•creatlonal actlvllles and fonm8 for dls¢usslons and d•bate forthe personal development of Its students Community Building We slarted the academic year with a retum to our inèrson Freshers Fortnight Our Freshers events omded a plaffom for our studen14èd a¢tiwty. sports and campaigns groups to demonstrats what thèy do. incteasing memberships and participation. However due to industrial action and the deLasion to dose our Spaces, outlets and offices, a significant poriion of the aclivty was pal￿d. YeL we saw clear demand for on eamws actiwty IhroughoLrt this period, an altem8b and offsite aCtI￿ty wa$ organised. Soclolles and Sports Teams We had 100 societies & 20 sports teams registered and increase on the previc￿ year. ￿￿1b over the wmber of sports t8ams registered. Our ￿dent groups cover a br￿1 range of 8ctiMty which ind￿Je& ' ptysical aclivibes like dan￿. martsal arts & yoga ' creative arts like origami & wodd Mu￿¢ choir • faith & ¢Lltural groups like M8laysLgn scoety. Islamtc s(¢￿ty Page 3

SCHOOL OF ORIENTAL AND AFRICAN STUDIES STUDEiifs' UNION Roport of the Truste for the Year Ended 31 July 2023 ' politi'cal, eampaignlng and fun(traising group5 likè Water Aid, Red Cross & Marxist gxiety. Our sports teams werè part of BUCS ond LUSL kagues and Flayed cLxnpet4tive fixtures. members take part in sport al0￿j5%1￿ their studies often report how importanl this is to their mentsl heatth aTh b￿lIbe1)g. Income Goneratlon Ths was a year of re-establishing our trading ouliets on the campus after years of severe restrictions due to the Ctiv4d-19 pandemlc. The bar and Ihe shop rgJpened fully from Ihe b8ginnir¥J of the year. The Union also look over Ihe runnlng of a small coffee stall in the Paul we￿eY ￿n9, a facilty that had been managed the Universty prwandemio Athough it ￿d9 extremety encourdging to promde food and drink again for students on campus, as wdl a communal space for all members of the SOAS communlty, it is tsking some time to re-establish the focthll and ￿refOre Ihe Ir￿Me levels approaching pre-pandemic years. As many aspects of academlc life continugJ to be at least party ca￿led out online, fewer sludents visited the c8mpus on a daily basi5 than in pwous years. There were continued heamh concems issues. pa￿¢j￿arIY In le one, due to the pandemic. In addition. strike ￿tIOn by leaching and support staff unions and a stud￿1 oGcupation In Ihe year necessitated Ihe cbsLe of our outlets for sever81 days. Encouraging conversations continued vAth the Institution around the refurbishment of the b* and sooal spa￿, with SOAS agreeing in principle to fund such developments In the 22123 fina￿la1 year. Page 4

SCHOOL OF ORIEpifAL AND AFRICAN STUDIES STUDENTS. UNION R•port of the Tn•$t￿& for the Yeor End•d 31 July 2023 FINANCIAL REVIEW Income & ExpeThJltur• Account . SOAS Su's gr[￿ in(yJffte fron all sources from August 2022 to July 2023 am￿nI￿1 to £1296.297. . Totsl expenditure was £1.372,813, wh￿h meant a ng1 loss of£76.516 for the year. • The Union hdd £44,843 in fijnds carried fO￿ard at the end of the year. of whith £29,129 wwe unresthcl&J funds. . The Unth had fixed a55et funds of £51.840 8t July 2023, ￿1¢h represents the net tM)ok value of the assets the un￿n has fflad8. SOAS Grants SOAS SU has conlliued to benefit from the recognltion and support of the Universty. who are cmjr pri￿paI funders. 8nd this year the Block Grant vrds £686,011 In total. This rnoney ￿Marity suptM)rts our day-t04Jay charitable aclivthes, salaries of the sabbalical officers and CLYe staff, as well as funding for sports. societies, the student representstion system, Freshers and Welcome Week, CampaI￿S and welfale supprt literation history months and other memb8rship seNices. The Grant also eovers funding for the Enough Is Eno¢J￿ CAMsent programme, includiro workshops delivered lo all sludents and an SU ¢0￿r￿n0t9r slgff member. Some of the SOAS funds were agreed inwyear for additional staff c£)sts and frx a Strategic Review of Un￿n an overhaul of the SOAS SU V+tbs11e. Unlon Generatéd Ineom• £519,389 was generated by CA)mmerciBI services run by the Union which this ytrar comprised.. the shop, selling mosliy focJ and drink, along wth 50me ststionery, Fersonal items and SOAS4)randed merchandise., the SOAS bar.. and the ￿ffee pod I￿ated in Senate House. In additiei, merchandise was Occasional￿ sold at a FOPUP Stall on camws and was available in the SU online shop. We njn these student-facing fxffimercial Se￿￿ vAth a low margin as 8 service to students whth promdes safe 50rAal 5parx witl¥n the University. Commerryal inwme has sIo¥￿Y increased since the pa￿JeM￿, as more students {as well as staff and guests) have returned lo campus. At th8 end of the year the bar and shop 5￿CeS were closet1 for a major refurbishment. finBnced by the University. It is anticipated that the changes wll gerErale new and better opportunities in Ihese student spa￿S in the coming years. £73,075 was generated by student souelies and dubs, whieh goes dirèctly back to support the octimlies of these groups. Financial losses during the Comd pandemic period meant Ihat Ihe SU had to use up reseNes set aside in previous years, in older not lo enter into loan arrangements or risk insofvency. The Union is in Ihe process of remsing its Reserves poliw and will aim to bjild up its financial reserves once trading actiwlies have risen lo levels approaching wwandemic years. Until such time. the objective is lo hall annual losses and reach a break even, poinl In finanaal lems for the year. STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document The charity is wntrolled by its goveming document. a deed of tsust con81itutes an uninL¥)rporated charity. Staffing A new Chief ExeoJtive was appointed following sucrEssful recruitment during summer 2022. The new Chief Executive started in November, at which time the Interim Generdl Manager. vAK> had been in place sin FebrU￿Y 2022, left their post. There were several other staffing changes that took place throughout Ihe year lo enswe Ih8t appropriate support could be provided aeross the unl￿ to delivw a of high*u8lity semces in line wth our Charitsble Objects. Page 5

SCHOOL OF ORIEpifAL AND AFRICAN STUDIES STUDENTS. UNION Report of th• Trustees forth• Yw Ended 31 July 2023 STRUCTURE. GOVERNANCE AND MANAGEMENT Charlty w¥titution SOAS Sludents, Union ISUI is a Registered Charity. Charfty Number 1150717. and was registered on the C610212013. SOAS SU is CL)r￿litu1ed under the E(Jucation Act 1994 as 8 charity wth intemal regu18tions and a Con51itubon approved by the Goveming Bryty of the SOAS (the University) and the Charities Commisson. SOAS Su's aims and objectives. as laid out in its conslilution, are to promde representation and support for the students, of the University, and are further supplemented by the 011￿11¥6 of hglt¥ro members to develop th&r own tharilatk activilies with aclive paitiipalion in ¢iMI SLxxety. Trustsos Followir@ ts Govemance Review in 2022 the SU adopted new govemanrE and derrhxratic structures for the 2022-23 year. whilst V+t•rf(ing toward in(xJrporating as a Charilable IncorF()rated Organisation. The govemance changes IndUd￿ cmting ckarer dislinclions be￿en the polrfi'￿l and cawnpaigning and govem8nc8 functiorts of the Union. The most notalle of these thanges was the addtheffj of the Extemal Twstees to the Board and Ihe aFoointeé Student Trustees. The Tnjslee Board is comprised of four Sabbatical TTuslees, four Student TTUStees linduding one reserved plac8 for the RSA), and F￿r Extemal Trustees, appointed for their knO%￿ge. ewtise and experiencg. This ha$ brought SOAS SU ￿ lin8 sector best pr8clice. The foLr SabbalKal Trusts8s are eleGted annually by a cross-campus secret ballot of the MeMbe￿hlp. These p)sts are full-time remunerated. eath post 15 elected for a one-year tem and may seN8 no more than temis. ￿ther conse(xJtive or non<¢nse¢)Jlve. The Sabbatical Trustees are ioined by up to four Stud8nt Trustees #nd Four Exlemal Truslees. are appointed by the Board for their knoimedge and sknlls. Student Trustees must be members of the Union and I￿nn01 also hold dected office wthin the Union, they may serve for up to four years. Extemal Trustees must be extemal to the unl￿ and canrK)t be stu(Jents. thar term of Offi￿ shall ordinarily be ￿r years which may bo rw)6wed up to a M￿muM ofeighl years. The Trustee5 meet at ￿ast four times a year to oversee thè Union finances. strategic plan. operating plan and risk register. The Trusl88s rep)rt to Ihe membership via the SOAS General Meeing. vthich can questi d8asions made ty the Tnjstees. The Board of Trustees has the following established subrfommittees. Governance, Fm8nce and RISK Commercial serv￿s, Apr￿'ntsnents. and People and TalenL The Board delegate the day-to4ay runnirg ollhe Charrty to the Chief Execubve. Relationship with SOAS The relationship be￿n the Unlverslty 8nd SOAS SU is estsblishe(l in the Stsnding <￿thr$ of ts Uriverslty and detsiled in the SOAS SU constitution approved by both organisalions. SOAS SU rece￿eS a Grant from the University. agreed annual￿ and tx¢uP￿s part of the SOAS buildings. Thi5 nC￿-MOnetsry suwt is Intrins￿ to the relationship be￿en the Universty and SOAS SU. In addition to the block gTrnt the School also prn￿deS SOAS SbJdenls' Unlon wlth utllties. offi¢¢ spxe, IT and administralive S￿rt. Although SOAS SU continu25 to generate supplernentary funding frcm various mubjal trading actiwtses. it will always ￿ deFendent on the Universty's support. There is no reason lo believe that this or eqU￿alent supw1 from the University wll not continue for the foreseeable future, as the Education Act 1994 imposes a duty on the UnNeTsty to er￿Ure the ffinawal ￿abilIty of ts sfvdent repre￿￿tiv0 body. Rbk manag•m•nt The responsibility for Risk Management sits wlh the Trustees who have tasked the Chi¢f Execullve lo prepare and urKJate a risk register for them. ScnJbny of the risk register is a 5tsnding item ￿ the Trustee meeliry agenda, and Ihrough it the Trustee5 cons(ler the maior business. str81egiG. repUtsti￿al and oper81ional risks faced by SOAS SU. Where 8ppr¢)priate. systems or procedures have been established to mitigate the risks the Union faces. Bud*ry and inlemal control risks were minlmised by the implementsli of procedures for authorisalion of all transactions and projects. ProL¥dures aTr in place lo ensure Com￿lance th health and safety of st8ff. volunteers and partiopants on all aclivities organised by ts Uni¢)n. Thesa prc¢edLres are periodicdly reviewed to ensure that Ihey c(ntirwe lo meet the needs of the Union. Page 6

SCHOOL OF ORIENTAL AND AFRICAN STUDIES STUDENTS. UNION Repcrt of the Trust•8S for tho Y•ar Ended 31 July 2023 STRUCTURE. GOVERNANCE AND MANAGEIIETrrr R•p￿￿bItt Issu•s 2022-23 AhhOU￿ the rircumstancAs of this year have b88n challenging. thera have b88n no reportable serious CKlents. REFERENCE AND ADMINISTRATIVE DETAILS Regis•r8d Charty numbor 1150717 PrIncI￿1 addr•sS Lower Ground Fbjor. Main SOAS Building Thomhaugh Street Russell Square London WC1H OXG Trustees Elfj¢t0d by SOAS Studont Body to hold offic& from: 1st Aug 202241st Juty 2023 1st Aug 202141st July 2022 Fu14ime {Sabbaticall Officers Co-President Demlxracy & Educ2kn"¢)n Gioia Sc4zza Co-President Welfare & Campaigns Sushanl Singh Co-President Aetimties & Events Pamana Haydar c0-P￿s￿le￿I Equality & Liberati Yara Derbas Lucia Rodriguez Pedroso Ella Spencer Khadijah Ankund8 Hi5ham Parthmenl Trusto08 Patrickq Anne (YN&ill (Re￿gned 21st D8cemb8r 2023) Mohammed Illiyas Jaffar (Resigned 21st Decemter 2023) Daniel ￿re111 (Resigned 20th Oecember 2023) Pamela Joan Bell-Ashe {Resigned 21st Decemtr 2023) Ekabali Gtrwh IApw)inled 16th Fe￿ary 20231 {Resigned 30th June 20231 Amaan Hayder Ch(MdhLry (Appointed 25th May 20231 Hamzah Vargas (Appointed 25th May 2023) Reem Walid IApp)inled 1st August 2023} Sir Martin Best Harris (Apwntsd 20th February 20241 Elizabeth Wrighl {Appoinled 20th February 20241 Aysh Ahmed Chaudhry (Appointed 9th Febn￿ry 2024) Dedan Prout {Apptinted 9th February 20241 Maryam ChoLKlhary {ApFointed 1st August 2023) Jamal Akram {Appoinled 1st August 20231 Senoor Management SOAS SU employs a Chlef Exe¢xtive to wcrfk dosely wbth theTrusle8S and Officérs to ￿S￿re 6ffectNe management of the charfty as head of a team of staff. Audltors Knox Cropper LLP Chartered Accounlants and Stabjw Audilors 153-155 London R08d Hemel Hempstead Horttordshire HPJ 9SQ Page 7

SCHOOL OF ORIENTAL AND AFRICAN STUDIES STUDENTS' UNION

Report of the Trustees

for the Year Ended 31 July 2023

REFERENCE AND ADMINISTRATIVE DETAILS Bankers

Nat West Bank Tavistock House Tavistock Square London, WC1 H 9NA

STATEMENT OF TRUSTEES' RESPONSIBILITIES

The trustees are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The law applicable to charities in England and Wales, the Charities Act 2011 , Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure, of the charity for that period. In preparing those financial statements, the trustees are required to

• select suitable accounting policies and then apply them consistently;

• observe the methods and principles in the Charity SORP;

• make judgements and 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 the going concern basis unless it is inappropriate to presume that the charity will continue in business.

The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities Act 2011 , the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Approved by order of the board of trustees on ......... OthApril nd signed on its behalf by:

••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••• R Walid - Trustee

Page8

R•port of th• Indopendont Audltors to t￿ Trusts•s of School ol Oriental and African Studlos Students. Union Oplnlon We have 8uthled the financial statements of Sch¢xJl of Oriental and African Studies SI￿1¢n￿. Union { 'charity') for the year ended 31 July 2023 vthich comprise the Statement of Financial Activities. the Balance Sheet, the Cash Flow Statement and note5 to the financial stalements, induding a stjmmary of significant aCCoL￿ti￿3 ￿lL¥eS. The financAal reporling framework that has teen apF4ied in their weparalion is applicable law and United Kingdom Accounting Standards Iunited Kingdom Generaly A￿epted Accounlirs Practi¢e}. In our op¢nion the ffinana81 statements.. give 8 and fair view of the state of the charity's affairs as at 31 July 2023 and of its ir￿Orning resources and application of resouThs, for the year then ended.. have been property prepared in ￿CordanCe wlh United Kingdom Goneraly Accepted Accounting PractirL.' 8nd have ten prepared kn a¢xordance wllh the requ1￿ments of Ihe Charities kl 2011. Basis for opSnl¢ We conduded our audit in accordance wlh Intsmational Standards on Auditing IUKI {ISAs {UKII and applicable law. (Xjr responsibililies under those Standards are frJrther described in the Auditors, responsbililies for the audit of the financlal ststemenls section cl our ￿port We are Independent of the charity in accordance wlh ts ethical requirements that ¥e re￿vant to our audit of the finana81 slalemenls In lh8 UK. induding FRC'S Ethical Stsndard, and we have fulfilled our other ethical r8sponsibililes in accordan￿ with these requirements. We believe that th8 audit evidonce have obtsined is suffiaent and 8ppropri8te to provide a basis for our opinion. Concluslons relatlng to golng concern In audits'n9 the fina￿131 Stalemenls. we have Gondudgj Ihat the trustees, use of the ￿Ing cKmc8m basi5 of acc￿ntir￿j in the preparation of the financial stat8m8nls is approprtate. Ba￿1 on the work have perfomed. we have not identified any mateiial U￿ertaintieS rdoting to events c conditions thaL irK51￿1dua1IY or collectively, may cast significant doubl on the th8riVs ability lo conthnu8 as a going concem for a peri¢xl of al least tr4elve months from when the financial stsleTnenls are authorised for issue. (￿r responsilmlrbes and Ihe responsbi ilit￿S of the trustees wlh ￿pect to goirJ COr￿ern are described in the relevant Sections of Ihis rep¢)rt. (Xhor Inforniotlon The tnjstees are resr)nslble for the other infomalion. The other informabon comprises the informati¢Jn included in the Annual Report, othar than thè financial statements and OUT Report of the Independent Auditors thereon. (Xjr opinion on the finan(aal st8tements does not cover the other infcfmation and. except to the extent ottEMse explialy slated in our report. we do not express any form of assuran￿ ConGlusr￿ trereon. In conneclion with our 8udit of the finanaal stslemènts, our responsibilty is to read the other information arKI, in doing so. consider whether the other infomiation is materially inconsi5tenl %Mth the fin￿Cial staternerts or cur knowledge obtained In the aL¥Jil or otheNlse appears to be materialty misstated. ff wè identify suth material *icorEistenryes or apparent materi81 misstatements. we a￿ requirèd to determine whethèr this gives rise lo a material misslatement in the financlal stslemenls themselves. If, based on Ihe work we hav8 Ferfomied, we ￿ldude that there is a materi81 misstatement of llis other informalion, we are required to report that fact. We have nothing lo rep)rt in this r8g8rd. Pag8 9

R•port of the hKhp•nd•nt Audltor• to lh• Truste¢8 of School of Orlgntsl arnl Afrl¢•n Studl Siud•nts' Unlon Wè have rthng lo rewt n respe¢t of the folkntying matt￿5 tho thiiliey IAc£JJmts &)d Rep￿ts) RegUlatiOr￿ 2c￿8 rewires us to rep4)rt to rf. in our OF¥n•)n.' . tho irftim￿ll¢ffj gNen kn the Repthl of ts Truees k8 irtutslstent In wby m8torl81 resFeca with the finw¥Jal Statements.. or suffirAent accountiry re¢orrts have not been kep( or the fina￿181 statements are not in agyeement the acc¢yJnting reco￿5 and reiuffts. or have not recfftd 811 the infomotion and explanalions ￿ wuire fc our aud6t. R￿POnSI>l￿1•S of tru¥tws As exrAaIr￿d more fvlty in ts Statement of Trustee5' Respon5ibllbles. thg trLL4tees are responsibb for the epwatim of the finarwid statements gNe a true WKI fair view, and for such intsmal contrd as the truslees d8twmine is rwceswy lo enat48 Ihe of finarKial stslements Ihat are free from malww In wep8rirwJ Ihe ffinarK4al slatwnwl& tho Iruses arg rESp￿s￿le fty assessirwJ ts tharitys ability tr) ¢￿￿n￿e es 8 goiry conc4m. disck)slng. as aFpkalJe. matters relate(I lo gdThJ LyxKem aThJ u5wu Ihe g(4r ccncem basis of aco)unting Un￿$$ the trustses ther ￿tend to IKiud8te the or to cease QFrntic¢s. or ha￿ no realisbc altemth but to do 80. Our rn•ponslbllltles for th• audlt of th• flnanclal 8tatom•nts We have ken apwinled 8S 8udltors under Section 144 of the Charfles Acl 2011 and reFth in a￿OrrI•n¢e wlth Act reknnt regulations made or effect thereunder. are to oblakn reasonable assurance ab￿J1 whth8r th8 finandal 8tatsments as a ￿018 are free fffjm mthial Misstatem￿1, wtslhef (kn to fra￿j or error. and to issue a Report of the Ind8wnd8nl ALKlitors that ir¥ludes wr Reason8tAe assura￿ is a Iugh level of assuraw, but is ￿1 a guarantee th8t an a￿1 ¢xndLthd n OCCwd￿ ith ISAS (UK) il aw detect a materiol misslatement bt exists. 'sststernents can arise I￿￿ ermr ￿ a￿ tt)n9de￿j matenw rf. irthidudty or in ts ￿[09918. they ¢>)uld reas(xW be expected to inflwwx deogons rf users tsken on ts t4sis of these fin￿181 st8temwts. The extent to wthid) our FrfoceduTeS are capa￿0 of dete￿Ing irreg￿arlI185.lTrgudIry fraLJ is detslwl tdtr#. . Thg charfty is requwed lo compty w5th charlty IBW ￿d. based on our knth1¢dg8 of its a0￿￿118s. V• tho1 the legal requiremenl lo accuralety a￿Ount for restricted fijnds was of key S￿nfficar￿e. • We gained ￿ understsnding ol h¢)w the charity c(MntAied wlh its legal arKI regulatory fr8mevth, Includlng the Tgquif8ment to PTopety ac￿Unt for restrided fijnds. through dlscjjssions wilh m8nagemenl and a revlew tho ￿￿Ments1 pdicies. wc¢edure$ controls. . The audil Èam. is èxperlenced in the autht of tharth$. ¢¢nw(Iwed the thitys sus¢e￿AlIty to d to ￿SUre that onty valNJ and 4)wopviate eylendi￿ro was to restrirt￿ fuThts. ThLs reMeir#J joumal 8Jjusknents and unusu81 tranBxtiC￿$. Thwe are inh8rBnt limitalvms In the eudit WOL¥Jurns dO￿bed 8bove wd, the fuflher TenTh)bd nonrycompliance th laws and re9ulatlons is from thè events and transactions refiected in Ihe ￿na￿al statéments. the less Ilkely ￿ wJJld berLime aware of it. The rf8k of not detecJng a matsrial misslatement due lo fra￿￿ is higher than the rf8k of not delecllng one resulting from error, as fr8ud may involve deliberats conrthlment by, for example, forgery or Irrtenlional misrepresentations, or th1O￿h colluslon. A fijrther desuipkn of our responsiblities for the ajdit of Ihe fin8rvi81 ststements is IcKatwl on the Finandal RepJtrYJ CwrKifs webgte al vhwi.frc.tyg.uKl&KlittYSTespC￿ibI￿ts8. Th18 description part of o ReFrf)rtoltr* IndeFen¢yentAudrt￿. Page 10

Report of the Indepondont Audilors to th• Trust••s of School of Oriental and Afrl¢an Studl•$ Students. Unlon Us0 of our rgport Thi5 report is mad8 so181y to the charity's trustees. &8 a body. in accordanc8 With Part 4 of the Charities (Accounts and Reports) RegulatK)ns 2008. Our audit work has been undertaken $0 1hat we m*Jhl state to the tharitls trustees those matters we are required to state lo them in an auditors. report and for Th) other purpose. To the fullest extent pemiilted by law. we do not 0￿p¢ or assume responsibility lo anyone other than the charity and the chanty's tsuslees as a body. for our audit work, for this r8p¢)rt. or for the opinions we have foryned. Knox Cropper LLP Chartwed Accounlants and Statutory Auditors 153-155 London Road Hemel Hempstead Herlfordshire HP3 9SQ Page11

SCHOOL OF ORIENTAL AND AFRICAN STUDIES STUDENTS. UNION forth• Y•w Endod 31 July 2023 2023 Tolal 2022 furKIs furKI$ co￿ AND ENDOWMENTS FROM Donallon8 and legwies 6BI011 680,011 Charltabl• •ctlvltl•• Un￿￿ bar Unim 208.875 240,174 70,340 208N5 240,174 70,340 731J75 159,oe8 159,149 33,923 57.885 .474 Clubs and soriebes SOAS RadN) E￿￿ts 73.076 Other Iroding actswlies Investment WlCLYne Olher Income 312 215 8,622 3,063 1063 Tot•1 1323.222 73.075 1.296297 1.035.033 Welkn and &qmpaKJr Union b Un￿n sh 4.810 292.991 452.452 107.876 4,810 292.991 452.452 lo7￿6 211,7YI 324.770 30.039 sub￿P￿0nS end affili8lion fees Clubs and soc*bes Union entertanment SOAS Radio Events sch0la￿hp ETh)ugh 15 ErKJugh 123.466 82.125 62,359 5,106 112.rn 82.125 62,359 5,106 750 87.910 74.984 2.3SS 3.465 34.512 750 32.552 T(tsl 1253,797 119,016 1,371813 1,097.886 NEf INCOMEI(EXPENLXTURE) Tro￿fer$ bet￿￿n fund• {30,5751 (18,533) 145.941) 18.533 l76,510) {62.853) 16 N•t nK>v•m•nt In fvnd• 149,108) (27.408 170,516) {62.8531 RECONCIUATION OF FUNDS Total fvnds brought forward 78,237 43.122 121JS9 184,212 TOTAL FUNDS CARRED FORWARD 29,129 15,714 121,359 Page 12

SCHOOL OF ORIENTAL AND AFRICAN STUDIES STUDENTS' UNION

Balance Sheet 31 July 2023

				2023	2022
		Unrestricted	Restricted	Total	Total
		funds	funds	funds	funds
	Notes	£	£	£	£
FIXED ASSETS
Tangible assets	11	51,840		51,840	67,236
Social investments	12	3,500		3,500	3,750
		55,340		55,340	70,986
CURRENT ASSETS
Stocks	13	18,007		18,007	12,416
Debtors	14	68,236		68,236	42,752
Cash at bank and in hand		43,481	15,714	59,195	46,851
		129,724	15,714	145,438	102,019
CREDITORS
Amounts falling due within one year	15	(155,935)		(155,935)	(51,646)
NET CURRENT ASSETS		(26,211)	15,714	(10,497)	50,373
TOTAL ASSETS LESS CURRENT
LIABILITIES		29,129	15,714	44,843	121,359
NET ASSETS		29,129	15,714	44,843	121,359
FUNDS	16
Unrestricted funds				29,129	78,237
Restricted funds				15,714	43,122
TOTAL FUNDS				44,843	121,359

The financial statements were approved by the Board of Trustees and authorised for issue on 30th April 2024 and were signed on its behalf by:

R Walid - Trustee

The notes form part of these financial statements

Page 13

SCHOOL OF ORENTAL AND AFRICAN STUDIES STUDENTS. UNION Cash Flow St•t•m•nt for th• Ymr End•d 31 Juty 2023 2023 Notes 11.760 161,240) 11,760 161.240) F￿rChase of t￿91t4e fixed assets Sakn of S￿￿91 investrnffits Interest received (1.414) 1,250 215 Not cash pthded by inve8tirvJ actr¥il 51 Ch•Thg• In ¢osh arKI cash gqulvalents In tha rnportlng period Cajh and cash equival•nl* at th• b•ginnlng of th• r•portlng pwltxl 12J44 (61.189) 46051 108.040 Ca•h and cash •quiv•lents at the end ofthe ￿￿tifi9 period 59,195 46.851 Th• notss fom part rf th41se fm•n(aal statem￿ts Page 14

SCHOOL OF ORIENTAL AND AFRICAN STUDIES STUDENTS. UNION Notes to Ihg Cash Flow Slatomont for tho Y￿r Ended 31 Juty 2023 RECONCIUATION OF NEf EXPENDrruRE TO NEf CASH FLOW FROM OPERATING AcfMTIES 2023 Net •¥pgndlture for the rèportlng period {as per the Statsmgnt of Flnan¢SJl Adlvltlo$) Adjustments for. DepreLaalwJn charges Interest receNed {Increaseydecreose in stocks In(¥e85e in debtors Increase in creditors 176,5161 (S2,8531 15.396 17.725 12151 202 {16,7321 633 (5.5911 125A841 104289 N•t ctsh wovldod byl(us•d In} op•rations 11,780 (61.2401 ANALYSIS OF CHANGES IN NEf FUNDS Al 1.8.22 Cash flow At 31.723 Net ctsh Cash at bank and in h8Th 40,851 12,344 59,195 46.851 12,344 59.195 Total 46051 12,344 59.195 The notes fo￿ part of these finandal ststements Page15

SCHOCL OF ORIENTALAND AFRICAN STUDIES STUDENTS. UNION Nol•• to th• Finan¢l81 StmE for the Yew Ended 31 Juty 2023 AccouKllNG POUCIES Basil of w•Parf￿￿ the flnancl•l Jlat•Thnts The financaal stalem8nts of the tharity. is a publG benefft ￿tity uryJ8r FRS 102. ￿ b88n epared in attordan¢e wNh tho Charities SORP IFRS 102) 'Accounting and Reprxting by charit￿.. Statement of Recommènded Pr8¢lice applicable lo charits'es preparing th￿r ￿￿￿nts in ¥c￿rdance th the Financial Rewlir4J Standard applicable in the UK and Republic of Ireland IFRS 1021 leffeelNe 1 January 20191., Financial Reportiro Stsnd•rd 102 The Finarval Rewrting Stsntsr(I in th8 UK aThJ Re￿AIG of Ireland, and the Charib'es Act 2011. The financAal slalements hav¢ l is rwdsed n the str1￿t of ￿￿8￿?￿1 klNl¥es Mce the ckniity tss entilement to the fuThJs, it is rxobatAe Ihat tr ir•xne be receiNEd and the ￿￿jnI ￿ bè measfftd relb￿. Expènditur• Liaknliles arg racognlsed as exp8n¢frture as soon as Ihere Is a al w C(%￿u￿Ve obligoti eommitling the charity to thal expenditure. it is probtble that a transfer of 8conomic t¢rnfits will be required in setdemenl and the amount of the obligation can be measured reliabty. Expenditure bs counted for on an 8ceruals basis and has been classffied undér heodings that aggregate all ¢o$l rel8ted to the e4l&Jory. Whore eosts ￿nn0t be direcdy attributed to p8rtiwl8r headings they havo b88n )LJ to on 8 boss c<>nsbnl Y￿1h the use of r6soLfCO$, Tawlblo flx•d ••••ts reo)rd8d at cosL Ilems wlth 8 value bekm £1,CKiJ 8re not c4t4lalsed. Depredation Is for 8t the fdkming rales in onier lo hYlte off e& asset over its esIknat￿ useful lrfe. Imwo￿rWts tr) propoty Flxtures & ffitlmgs . 10%(mcosl -20gh ￿ cost Stock5 are valued 81 the lower of c05t and nèt rè8lisaL4e val￿. after makirwj ft>r ob&lele and slow mvlng fil¢ms. Taxk>n The ch• is 8￿pt from tax on its charit)le acbMbe8. UMestri¢ted fuTrJ$ ￿ bg in x¢ordaThx ￿ the Lgthablg obi￿tIveS at the dlscreth)n purposes or proAe¢ts Reststted funds can only be used for parti¢)Jlar rethcted PLYposes. Restrickn￿3 vthn $pthd by th8 donor or ¥then fiJnds are raised for particular restricted purposes. Restri￿ funds comp18e of the sp)rts and 80dellos fun¢. which reprewts fijnds rals•l by tr iThthKIu81 dub8 and for theyown use. Thg clwity cperates a deffined c£ffjtr*ulicffl penS￿)n s￿￿. ContributiC41S F4qyaNe to the ch8Ws F￿￿10n we tr) the Ststemenl of FinOTKlal AcllwlJes in to they reLgte. Page 16

SCHOOL OF ORIENTAL AND AFRICAN STUDIES STUDENTS. UNION Notes to the Flnan¢lal Stemonts- wrflnuod forth? Year Ended 31 Juty 2023 ACCOUNTING POUCIES - contlnued Golng concern After making apwwats enquwie& the Irustees have a reasonat4e explp)n that Ihe charity has adequate resources to conb.nue in operational existence for the foreseeable fvlure. For this reason, they continue to adopt the going o)ncem ba*$ in preparing the financhil statements. DONATIONS AND LEGACIES 2023 2022 Schot)I grant 686.011 559,405 OTHER TRADING ACTMTIES 2023 2022 Sp￿SOrships Commission income Other trading activities 1,000 312 10,504 11.583 312 IIIVESTMENT INCOME 2023 2022 Deposit &eLJunl htterest Swal Inv8strnenl interest 146 15 200 215 INCOME FROM CHARITABLE ACTIVITIES 2023 2022 Actmty Union bar Uni¢)n bar Union shop Union Shop Coffee Pod Bar sales sUppl￿r target th$￿￿nI Snack shop sales Supplier target discount Coffee Pod Sales SOAS Oetainee sUp￿rt Group Clubs 8NJ s(￿1￿8$ income SOAS Radio Freshers Fayre 206,874 2,001 239.401 773 70.340 157.560 1,508 159,149 33.923 Clubs and societies 35.283 21.468 Clubs and societies SOAS Radio Events 37.792 36,397 56,474 2,842 505,306 466,479 Pa98 17 continu&J...

SCHOOL OF ORIENTAL AND AFRICAN STUDIES STUDENTS. UNION Notes to tho FlTran¢lal Stat•monts- contlnugd for Ihg Yoar Endod 31 July 2023 CHARrrABLE ACTIVITIES COSTS Support {$ee n¢)te 7) Direct Totsls Welfare ar￿ campaigns Unic￿ bar Union shop Coffee Pod Subscripb'¢Ms and affillatkin fees Clubs and 50aetss Union entertainment SOAS Rad Events Schd8rship Enough is Enou 4810 210,438 246.180 55.700 11.795 157,979 3,880 58,417 5,106 750 4,810 292,991 452A52 107,878 90,060 236,244 82,125 62,359 5,106 750 82,553 206,272 52,176 78265 78265 78365 793,075 579,738 1,372,813 suppoRr COSTS Iveman Management Finance Totals Union b8r Unlon shop Coffee P￿j Subscripthons ond affilialion fees Clubs and souelies Union entsrtalnmenl SOAS Radio 73,624 183.970 2,187 5,463 1.3B2 2,073 2,073 2,073 104 6.742 16,839 4359 82,553 206,272 52.176 78.265 78,265 78.265 69,804 69.804 69,804 4517 6,388 321 517.058 15,355 47.325 579,738 Actmty Management Basis of all¢xation Student Socaal Enterprise- 49.50h {splil as a % of tumover) Student representation and ￿t￿8$ - 49.5Vh arKI 1% G0vema￿e Student Social Enterprise- 49.5% (split a$ a % of ￿m0ver} Finance Sludenl representation 8nd actmbes - 49.5% arKI 111A Govemance Stud8nl Social Enteipris8- 49.5Yo Isplil as a Oh of tumoverl Governa￿e o)sts Student representation actmties - 49.5% and 111A Govemar&8 Page 18 ntinuèd...

SCHOOL OF ORIENTAL AND AFRICAN STUDIES STUDENTS. UNION Notes to thg Flnanclal Statgmonts- cortlnued for the Y•ar End•d 31 July 2023 SUPPORT COSTS- continued pport costs. included In the aLw. a￿ a$ fdbws: SubSCriF￿.0nS and 8ffi1i8tion fees Un￿n shop Coffee Pod unic￿ bar TnBtses' reMU￿raI10n etc Salarie5 Social security Pensions IT equipment and softsvare Printing and stslionery Other expertses Travelling Slaff trainiryJ & othei expèrK%e Profes&onal fees Insurance ITrec4werable VAT Depreckgtson- tangitle assets Bank charges Auditors. remuneration Other govemance exper)ses Demouaw & elgction expenses Legal and prOfe￿tI)a1 fees 23.079 36237 2,303 4,954 57,667 90.541 5.756 12,381 14,587 22.902 21M81 31.354 2.184 4,698 1132 1,951 12 4,871 33 1,232 13 29 262 414 1.034 392 1.290 816 152 380 96 144 2.192 2.187 5.479 1078 1073 1.382 721 2.850 145 92 138 217 138 204 13.086 4310 4.965 82,553 206,272 52.176 78,265 2023 Total aCtiV￿eS 2022 Total Clubs and Union soaelies entertslnn￿nt SOAS Radio Tn￿tee$, remuneration 21.881 34354 2.184 4698 21.881 34.354 2,184 4698 1.102 1.730 162.078 254.472 16.177 34,798 155.971 182,284 13233 26,746 Salaries Soual setJJrity Pensions IT equitKnenl and 13.691 93 10,189 Printing and stslionery Other expenses Travelling Staff training & other expense 13 13 155 251 392 1.224 1.224 9.060 4.703 Carried forward 06,638 66,638 3.357 493.603 393.585 Page 19 continued...

SCHOOL OF ORIENTAL AND AFRICAN STUDIES STUDENTS. UNION Not08 k> tho Fln•nclal Slat•m6nts- contlnued the Year Endod 31 July 2023 SUPPORT COSTS. c¢nlinued 2023 Tc*al 8ctivths 2022 Total activities Ckts and Unlon se¢ieti8s entertainment SOAS Radio ht forwdrd Professional fees Insurance Irrecov8rable VAT Depreuation- tanglble assets Bank charges Auditors. remuneration Other govemance expenses Democracy & election expenses Legal and wofessional faes 66,638 66,638 1357 493,803 393.585 6.992 1,067 8,724 144 144 2,078 2,073 105 104 IS￿86 15.355 8.010 17.725 10,884 6.600 2,073 1.OB1 138 138 1.021 12 204 10 1,515 4965 250 36.779 4,000 78.265 783fj5 1942 579,738 497.162 TRUSTEES. REMUNERATION AND BENEFrrs None of the trustees We￿ remunerated or paid expenses in respect of the perforrnan￿ of their duties as b￿slee$. Truslees were remunerdled in respect of their roles as sabbatThl officers. See not8 17. No trustees y￿re paid expen88s In respect the perfThmance of th¢r duties as trustees. STAFF COSTS 2023 2022 Wag8s and salaries Soc4al security costs Other pension costs 745,292 25,946 565,208 24,225 49.324 824538 638.757 The average monthty Nmber of employees dl￿ng the Year￿a$ as follows: 2023 2022 Full time management staff Full time sabbaticd officers Part time staff 36 No employees r￿8￿ed emoluments in gx¢ess of £60,OCQ. Page 20 ¢onOnuwJ...

SCHOOL OF ORIENTAL AND AFRICAN STUDIES STUDENTS. UNION Notos lo thè FI￿n¢la1 Statgmgnls- Gontlnugd for ihg Yw Endod 31 Juty 2023 10. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestricted funds Restricted Total funds INCOME AND ENDOWMENTS FROM Donations and legacies 463.205 96,200 559,405 Charilablo OCtl¥ltt•$ Union bar Union sh¢ Coffee Pod Clubs and soryelies SOAS RadKs 159. 159.149 33.923 159.068 159.149 33.923 57.865 56.474 57,865 56.474 Other trading acttmlies Irwestmenl income Other income 312 215 8.&22 312 215 8.622 Total 880,968 154,065 1,035,033 EXPENDITURE ON Charitable actlyttles Welfare campaigns Union bar Union shcp Coffee Pod Subscriptions and affiliation fees Clubs and societies Union entertainment SOAS R8dio Events Stholarship Enough is Enough 3.864 210.690 322.121 30.039 92,326 101.332 86.682 74.933 1.060 2.649 211.750 324.7TO 30.039 93.554 230.683 87.910 74.984 2.355 3.465 34.512 1,228 129.351 1.228 51 3.465 34.512 Total 24.342 173.544 1.097.886 NET INCOMEI{EXPENDITUREI Transhrs b•tw•en fund8 (43,3741 41,675 {19,4791 {41,675} 162,8531 N•t movwient in funds 11.6991 {61,1541 162.8531 RECONCILIATION OF FUNDS Totsl funds br￿ght foTh¥ard 79.935 104.277 184.212 TOTAL FUNDS CARRIED FORWARD 78,236 43,123 121,359 Page 21 continu8d...

SCHOOL OF ORIENTAL AND AFRICAN STUDIES STUDENTS. UNION N¢)tes to the FIn￿GI81 Statomgnts- contlnued for th• Year End•d 31 July 2023 11. TANGIBLE FIXED ASSErs Improvements FixbJres and [￿pertY Totals COST Al 1 August 2022 Dksp05als 228.￿0 1102.719) 83.891 312.461 (102,7191 Al 31 July 2023 125,851 83,891 209.742 DEPRECIATION At 1 Augu512022 Charge for year Elimlnated on dlsposal 165.840 12.585 {102.719) 79J65 1811 245,225 15.396 1102.719) At 31 July 2023 75,706 82,196 157.902 NET BOOK VALUE At 31 July 2023 50,145 1.695 51,840 At 31 July 2022 62.730 67,236 12. SOCIAL INVESTMEifrs Loans MARIQT VALUE Al 1 August 2022 Repayments In year 1750 (2501 Al 31 Juty 2023 4500 NET BOOK VAUIE At 31 Juty 2023 1500 At 31 July 2022 3,750 1& STOCKS 2023 2022 Slo( 18,007 12,416 Pag8 22 continu￿...

SCHOOL OF ORIENTAL AND AFRICAN STUDIES STUDENTS, UNION Not•5 to th• Flnan¢lal Statomwrts- ¢ontlnuod for the Year Endod 31 July 2023 14. DEBTORS: AMOUNTS FALUNG DUE WTHIN ONE YEAR 2023 Trade debtors Other debtors Prepayments and al￿ed income 57,134 26,632 6,836 9,284 42,752 Other debtor5 relates enlir* to the grant received from SOAS 15. CREDITORS: AMouKfs FAWNG DUE ￿THIN ONE YEAR 2023 2022 Trade creditors Taxation and social seCL￿ty Other creditors ),808 6,719 118.408 9,066 14.727 27,853 15S935 51.646 16. MOVEMEfrif IN FUNDS Transfers be￿n movement in frjnds Al 1.8.22 31.723 Unrgstrfctod funds General fijnd Fixed Asset 12N15 65.822 (15.179) (15.396) 119M47) 1,414 {22,7111 51,840 78237 {30.5751 118,533) 29,129 Restricted funds Srorts ground lund Transportfund Clubs and Soaeties c￿￿ent Training Programme Sanctuary Scholarship Pro￿aMMe 17.799 3.514 10,842 {17.7991 {3.2951 118.6091 {5,4881 17501 219 10,766 1&533 5.479 4.729 43.122 145.9411 18.533 15,714 TOTAL FUNDS 121,359 (78,510) Pag8 23 contirkued...

SCHOOL OF ORIENTAL AND AFRICAN STUDIES STUDENTS. UNION Ntst•s tr• the Flnanclal Stat•m•nts- contlnuod for tho Yoar End•d 31 July 2023 16. MOVEMEKf IN FUNDS- contlnued Net movement in funds. induded in the above are as folh)vr4.' Incoming sources Resour￿$ Movement eynded in frjnds Unrestrlcted funds General fund xed Asset 1,223222 (1238A01) (15,396) {15,179) {15,396) 1323,222 <1,253.797) 130,575) Rostrlcted fund$ Sports grwnd fund Transport fiJrvJ Clubs and Swelies Consenl Training Programme sanC￿ary Scholarship P￿raMMe 120W3) 13295 188.680} (5N88 1750) 117.7991 13295} (18,609 15A88) 1750 70.071 73.075 (119,016) (45,941) TOTAL FUNDS 1,296,297 I1,372￿13) (76.516 Comparadv•o for M0￿M•fit In funds Net movement in funds TransfeTS b8ts¥98n lunds At 31.7.22 At 1.8.21 Unr•strid•d fundg G8neral fund Fixed Asset 13.612) 83,547 {25,648} {17.725} 41.675 12,415 65,822 79,935 {43.373) 41.675 78,237 Sports ground fund Transport fund Clubs and Societtes Consent Training Progromme Welf8re Professional fees Innovatlon & Entreprenu8ur furKI Student Development Fund Sarthary Scholarship Programme 34,182 6,640 11,591 116.383} 13.126) 1749) 17,799 3.514 10.842 25,WO 1,245 15,203 1,472 (25,000) (1.2451 (15,2031 11.4721 (3.4651 5.479 104.277 19,4801 (41,6751 43.122 TOTAL FUNDS 184.212 62,8531 121,359 Page 24 conlinued...

SCHOOL OF ORIENTAL AND AFRICAN STUDIES STUDENTS, UNION Notes to the Flnan¢lal Statements- c¢>ntinu•d for the Yèar Ended 31 Juty 2023 16. MOVEMENT IN FUNDS- contlnued Comwativ8 net movement in fLllKls, induded in Ihe abJve are 8$ follows.. IncomiThJ Resources Movement resources expended in funds Unrostrlcted funds General fvnd Fixed Asset 880,968 {906,6161 {17.7251 {25,648} (17,7251 880.968 1924.3411 (43,373} Rastrict8d funds Sports ground fvrKI Transport Clubs and Sccieties Consent Training Programme Professit￿al fees Sancttjary Scholarship Pn)gramn 59,049 {75.4321 (3,1261 (49.5651 (34.5121 {7,4451 3,4651 (16,3831 {3.1261 17491 5,488 {1,2451 {3,4651 48,816 40,000 6,200 154.C65 1173.5451 (19.4801 TOTAL FUNDS 1,035.033 {1.097.8861 162.8531 A cAwrent year 12 months and prior year12 months combin8d &￿ition is as follows.. Nel movement in funds Transfers bets¥een Al 31.7.23 Al 1.8.21 Unr•8trict•d funds General fijnd ￿￿ed Asset (3,612 83.547 140.8271 133.1211 21,728 1,414 (22.7111 51,840 79.935 173.9481 23.142 29.129 Restrithd funds Sports ground fund Transport fvnd Clubs 8n(I Sc¢ieties Weifare Professional fees InN)vation & Entrepranueurfvjnd Student Development Fund Sanctuary Scholarship Pr￿4aMMe 34.182 6.640 11,591 25,0 1.245 15,203 1.472 134,1821 {6.4211 119.3581 219 10.766 18.533 125.0001 {1.2451 115.2031 (1.4721 {4,2151 4,729 104,277 {65,4211 (23.1421 15.714 TOTAL FUMDS 184.212 1139.3691 44,843 Page 25 continwy...

SCHOOL OF ORIEKfAL AND AFRICAN STUDIES STUDENTS. UNION N(kns to th• Flnw¢lal &at•ments- conllnu#d for th• Y•ar Endod 31 July 2023 16. IKIVEMEKf IN FUNDS. continu•d A currenl year 12 mefiths and wor year 12 months combined net movem￿1 in fuThJs, induded wi the ve are as folkiws.. In¢xming rosourcth expended in Unrestrlct•d funts General fund Fixed Asset 2.104,19) {2.145,017) 133,1211 140,8271 (33,1211 2,104.1 (2,178,138} {73.948) R68trIct￿ fvnds Sports ground fvnd Transport fvrKI aubs and Sweties Consent Training Programme Proless5c￿al fees Sancbjary sc￿)Ia[shiP Programme 62.053 (96.235) {6.421) (138,245) {40.CKJ]I 17.4451 14.2151 134,182) 16.421) 119,3&81 118.887 40,000 6.200 {1.245> {4,215} 227.140 1292,&1) {65,421) TOTAL FUNDS 2.331,330 {2,470,699) (139.369) Restricted funds comprise of th• lo110￿1¥3. . The FLxed Asset Fund represen15 the net bwk value of assets fijnded from ￿reslrthd reserves. Clubs & So(ieli8s Fund. which represents fund5 raised by the individual dubs aThJ sooetss for the Spyis Gr￿nd Fund and TransFth FuThJ - funds given as port of the annual grant from SOAS lo be Spgnl exclusively on sp)rts tsam5 for blxiking pitche5 and venues, buyro essentlal kil and equipment for pla￿n9 sports, costs for coaching and match Qffioals, fees for memberships and tournam￿ts and transpK)rt fLY games. Professional Fees - parts of the grant ring4on¢od to pay tho annuat extemal audit aThJ the annual ErKJugh Is Enough s8xual consent tr8ining programme. Welfare Fund and Stud8nl Innovalion atKI Entrepftneur Fwd - one off fundlNJ fcf spgtsfic prc4ects on Wellare & Mental Health and Employabilty. StL*dent Development FuTKJ- onfroff fvnding to ryovhye a grant to sbjdenls for personal development opporlunities. Sarthary Scholarship Programme FMd - One￿ fundirvJ for acbMty asscoata Ihe Sc4i(knity wllh Reftoees 8nd Displaced People Swety. Page 26 continued...

SCHOOL OF ORIENTAL AND AFRICAN STUDIES STUDENTS. UNION Notss to thè FIna￿la1 Stat•m•nts. ¢ontlnu•d for th• Y•ar End•d 31 July 2023 17. RELATED PARTY DISCLOSURES The Union transacts wlh ihe Universty of Oriental & Aftiran Sttjdies {SC)ASI their rdatI)nsP￿p is ¢*fined in the Report of the Trustees. A grant was received by the Union from SOAS as detaiw in the Iles to the aco)unls, ￿te 2. follo￿n9 tr￿saCtIonS tcd< place with sabbatical officers in the year ended the 31st 2023 Sabball¢al Post G Scazza S Sir4Jh P Haydar Y Oerbas J Akram M C￿)udhary R Walid Salary EmployorsPenslon £31,514 £6.155 £30,808 £6.237 £30,005 £32,179 Employ•rsNIC Totsl £3,066 £40,7 £3,160 £40,205 £2.8S9 £32,863 £3.158 £41,492 £228 £3,021 £228 £3,021 £228 £3,021 £6,155 £385 £385 £385 £2.408 In 2017 a fixe(l asset investment loan (note 121 was mode to Unisdar Ltd, a ComThwnty Beneffit Soaety limited by guarantse. The Union made tm loans to Unisolar Ltd. ore of £5,0￿ al Ooh for 5 year tsm and. another for £5.000 at 50h interest for 20 year tenn. One memter of Unbn staff, Hannah Short was on the Board of UniSoLgr Ltd. P8ge 27