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
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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 te*hY*3 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 ert*11r￿ 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 Ba*J 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-I*j 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 tÉ*dy, 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$sociation or guild) represent sludenls. academic
literes￿,, wlh 70.40A of students responding favourabty to the questions. This evid8nces the credibility of the
Students, Union in representing the student vthce. This was a significant increase in comparison to the 2022
da18 and show8 the growth Ihat Ihg Students, Union 15 havirg in thi5 area.
The StL*Jents' Union also promded a stLKlenl submission for the Teathing Excellence FramewuK 5etbng (Krt
sbjdent eyperiencÈ al SOAS. In the TEF SOAS scored a &lver ¢)verall and eronze for StLbdent Experience.
Provkllng so¢l•l, cultural, SPC•rtlng ond r•creatlonal actlvllles and fonm8 for dls¢usslons and d•bate
forthe personal development of Its students
Community Building
We slarted the academic year with a retum to our in*èrson Freshers Fortnight Our Freshers events
omded a plaffom for our studen14èd a¢tiwty. sports and campaigns groups to demonstrats what thèy do.
incteasing memberships and participation. However due to industrial action and the deLasion to dose our
Spaces, outlets and offices, a significant poriion of the aclivty was pal￿d. YeL we saw clear demand for on
eamws actiwty IhroughoLrt this period, an altem8b* and offsite aCtI￿ty wa$ 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 cbsL*e 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 foc*J 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 additie*i, 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 Decemt*r 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 t*en 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 goir*J 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 Tru*ees 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 Irus*es 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 QF*rntic*¢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 fraL*J is detslwl tdtr#.
. Thg charfty is requwed lo compty w5th charlty IBW ￿d. based on our knth*1¢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$. ¢¢nw(Iwed the th*itys sus¢e￿AlIty to
d to ￿SUre that onty valNJ and 4)wopviate eylendi￿ro was to restrirt￿ fuThts. ThLs
reMe*ir#J joumal 8Jjusknents and unusu81 tranBxtiC￿$.
Thwe are inh8rBnt limitalvms In the eudit WOL¥Jurns dO￿bed 8bove wd, the fuflher TenTh)b*d
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 St*mE
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•x*ne be receiNEd and the ￿￿jnI ￿ bè measfftd rel*b￿.
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$l
rel8ted to the e4l&Jory. Whore eosts ￿nn0t be direcdy attributed to p8rtiwl8r headings they havo b88n
)L*J to on 8 boss c<>nsb*nl Y￿1h the use of r6soLfCO$,
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.
Tax*k>n
The ch• is 8￿pt from tax on its charit*)le acbMbe8.
UMestri¢ted fuTrJ$ ￿ bg in x¢ordaThx ￿ the L*gthablg 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 St*emonts- wrflnuod
forth? Year Ended 31 Juty 2023
ACCOUNTING POUCIES - contlnued
Golng concern
After making apwwats enquwie& the Irustees have a reasonat4e exp*lp)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