2024-07-31-accounts

Report of tho Trust••s and Financlal Stal•ments for tho Year End￿ 31 July 2024 SCHOOL OF ORIENTAL AND AFRICAN STUDIES STUDENTS. UNION Knox Cropp8r LLP Chartered Accountants and Statutory Audltors 153 -155 London Road Hemel Hempstead Hertfordshire HP3 9SQ

SCHOOL OF ORIEpifAL AND AFRICAN STUDIES STUDENTS. UNION Contents of the Flnanclal Statements for tha Yoar Ertd￿ 31 Juty 2024 Page Report of the Trustees I to 8 Report of the Independent Audltors 9 to 11 statsment of Flnanclal Activities 12 Balance Sh••t 13 Cash Flow Statement 14 Notes to the Cash Flow Statemont 15 Notes to the Financial Statements 16 to 26

SCHOOL OF ORIEiifAL AND AFRICAN STUDIES STUDENThV UNION R•port of tho Trustees for the Yoar Ended 31 Juty 2024 The trustees present thelr report wlth the financlal statements of th8 dlarity for the year ended 31 Juty 2024. The Irustses have adopted the provisions of Aco)untlng and Reporting by Charfties: Statement of Reo)mmended Practlo appllcable to d)arities preparing their accounts in accordance viith the Financial Reporting Standard appllcable in the UK and Republlc of Ireland {FRS 102) (effective 1 January 2019}. OBJECTIVES AND ACTIVITIES Aims, Objectlves and ActlvSties SOAS Students, Union's Charitable Objects are the follo￿￿ng. The Union's objects are the advancement of educatlon of Students at The School Of Orientsl and Afiican Studies for the public benefft by: 1. promoting the interests and welfare of students at The School of Orlental and African Studies (University of London> durfng thelr course of study and representing. supporting and advising students; 2. belng the recognlsed representative channel belween students and The School of Oriental and African Studies and any other extemal bodles: 3. and provldlng soclal. cultural, sportlng and recrealional activities and forums ft)r discusslons and debate for the personal development of Its students. In pursult of these alms for the publlc benefrt. SOAS SU will ensure the diversty of Its Thmbership is recognised, valued and supported and has established services for use by Its members lo support ils V￿rk wlthln SOAS. Th&se Include over 120 student-led societies, campaigns groups & sports teams. our advice Service, the Course Representative scheme in additron lo curatlng our soclal spaces and events. The Union continues to represent SOAS students on relevant local. natlonal and Intemational issues through our Executive Committee, Sabbatical Officers and Course Reps based at a local lev81 in Departments. Student representstives slt on all the relevant declsloThmaklng committees of the School Induding the SOAS Board of Trustses. Student representatwes attend departmental meetlngs and take part in SOAS, policy development. strateglc declslon-maklng and worf(Ing groups. The Union works with the School's professional Se￿l¢e8 to create a better experlence for SOAS students. induding the Sludent Experlence. Engagement & Retention Team, the Studenl Advice & Wellbeing Service, the Careers Service and Widening Participatlon departmenL Through our sodetles and campaigns sludents volunteer In the communlty. fundralse and raise awareness of local and global concems. We o)nlinued our Enough is Enough programme, a student-led Inltlatlve delivering consent education to tsckle sexual & gender-based violenc8. The Union has continued to work with the Schod on student-inÉtiat8d projects around decolonlslng educallon and the Instltutlon. When reviewing our objectives and planning our actfvrtles, give due consideration to th8 Charity Commission's general and relevant supplementary guidanc8 on publlc benefiL P8ge 1

SCHOOL OF ORIEiifAL AND AFRICAN STUDIES STUDENTS. UNION Report of the Trustsos for t￿ Yoar Endod 31 July 2024 ACHIEVEMENT AND PERFORMANCE The VKJrk of the Unlon was focused on adaptlng to the IncreaslNJ needs of our members. representlng those needs to the School, developlng approprlale strategles for the volallle and uncertaln context we found ourselves In vthllst maintaining financial sustainabilty. 202&24 continued the return to a new nO￿nal for campus activty, with mor8 leaching taking plac8 in person. The staff team developed new pattems of delivery around a hybrid working environment enabling us to stabilise and provide appropriate levels of support for student activities. In 202&24, the Students, Unlon moved into a purpo5￿ul11 Spa￿ on the lower ground floor of the SOAS maln bullding. This resulted in the creation of: . TY￿ brand new studio spaces exclusively for SU activibes. events and meetlngs - the Ambedka Studio and the Ramla Ali Studlo. . A Reception area for the SU to recelve and direct general enqulrfes. . Four new office spaces for SU staff. . The Hussain Chaudhry Room for smaller andlor ￿nfidentIal meetlngs. . A commun81 seating area for quiet working and relaxing. At Ihe start of the year, the bar area VRS refurblshed, provkllng much needed repalrs and upgrades, ￿lIst also increaslng capaclty and adding a stage area for Ilve performances. As part of the building work. the JCR (Junior Common Room) VRS separated from the bar by remval of Ihe connecing stalrcase. Thls allows for both spa￿8 to hold separate and specific typ8s of events. At the dose of the year, the JCR was refurbished and the shop moved from Its previous locallon In the JCR to just outside the JRC, in what used to be the SU offEce spac8. The previous shop area has added extra recreational space to the JCR, while the new shop aims to provlde a more accessible and brighter retail spao. Promotlng the Intsrnsts and welfarn of stud•nts at The School of OTiental and Afri¢an Studles (University of London) durfng thelr Course of study and representlng, 8UPWtlng and advislng studen Advlce and Support The Advic8 Service, now in its sixlh year, provides an impartial. confidential advlce service to SOAS students and re￿nI graduates. We are currently midway through the advice service circle. which runs for the full ca18fKlar year rather than Ihe academic year to conslder the late submlsslon perlod and subsequent wlndow for appeals. There wer8 369 new cases signed up to the service during the 23124 academic year. Of these new cases, 207 V￿re regarding Academic Appeals and M￿gatIng Circumstances, and 42 regardlng direct u)mplaints about ts university itself. A significant change In the WO￿ of the Advlce service this year, 4vas that there was a rise in much longer, complex cases, forecast to last over a calendar year In some circumstances. To mitigate thls. drop4n and pop-up sesslons wlll be Introduced to deal with lower-level enqulrles that can be signtmxted and refe￿ed, without having to use the resource tlme to log Sludents as dients. The Advlce Serv1 has been v40rking on building stronger felatM)nships universty d8partments. These Include the SOAS Casework team, Indlvldual colleges, SAaW, and Reglsty. allowlng for fast referrals and complete level of ￿rap around care. for a student a(xess support. Ent￿gh Is Enough We delivered the elghth year of our Enough Is Enough programme. whlch has continued to be led by a part-llme member of staff wth a staff changeover in August 2023. In 202&24 lh8 proi8d has been responslble for: Ralslng a)4varen&%s of SGBV (Sexual and Gender Based violen￿) on campus and educating students at)out consent. Page 2

SCHOOL OF ORIENTAL AND AFRICAN STUDIES STUDEKfs' UNION Report of t￿ Trusloes forth• Year Endod 31 July 2024 Maklng the reporting systems and support avallable at SOAS accessible to those who need them, understsndlng the structures that uphold a 'rape culiure, and how thls perpetuates SGBV on Campus. In 2023124 the projed delivered 59 In-person peer led workshops, Y￿th over 1987 students attending. These w0￿shopS are one of the largest undertakings of the welcome and induclion programm8 delivered by elther the unlversty or the Union. We y￿rked again with Not the Only One in delivering surrfivor suprort groups. as well as working with Good Night Out on delivering training to our student staff and making the SU bar a GNO a￿redited venue. Democracy Engagement remained high with the demcralic processes throughout the year. In May 2024 held our Annual General Meeting, with over frfty students in attendance. The mandates that students approved across these forums become prforflles for the SU to Ihen act on. The unlon resolved to recommend a collaborative student V￿rkIng group to look at constitutional amendment for 24125. to look to nominate student trustees, and to put on hold Incomlng strategy plans unlll the Incomlng officets are able to revlew them. The Spring Elections, in whith the Sabbatical offi￿r$ {Co-Presidents) were elected for the 24125 year. saw a tumout of 1905 students. or 25.740/0 of the ellglble student body. Thls was a 1.74Yo Increase from 2023, over 90h higher than the sector average at 16.40A in 2024. We also saw an increase in the number of candidates. golng from 20 to 26 candldates across the lour roles. Belng the recognI￿d representatlve channel befrAKen students and Tho Sehool of Orlental and African Studles and any other external bodlos. Representallon The Students, Union continued to deliver the Rep Network scheme in partnership with the Unlversity with more than 100 representatives across courses. departments and o)Ileges. In 2023-24 the paid College Rep role continued as a way to support and enhance representation acn)ss all levels and colleges acmss the institution and ensuring that there are appropriate channels to escalate feedback. The College Reps researched different aspects of the academic experience of students through their connections to produce an exiensive report at the end of the year. They then led a workshop presenting on their findings to the 2024 Learning and Teaching Conference. They met regularfy viith Heads of College, further embeddlng the student volce In the college structure. Common themes of feedback reported related to securitisation in the school. The SU Interyened in the restructure of IFCELS and were able to push for at least the language support whlch had been under threat to be r8tsin8d. There V￿re also widespread issues among Online Distance L8amers (ODL). although they do not slt wlthln the regular rep system. These Issues featured In dEs¢ussSons at varfous levels. There was reduced staff support during the year as the Representation Coordinator left in December, which impacted on support for th8 Rep Network. Th8 firsl Sp8ak Week was nevertheless h81d in March 2024 with support fn)m Iwo student intems employed through the school's c￿CreatOr project. In the Nallonal Student Suniey In 2024, SOAS Students. Unlon scored lower than previous years on the benchmark question 'How well does the students, union (association or guild) represent students, academic interest?W, 60.8% of students respondlng favourabty to the questlon. Thts decrease may reflect the reducllon in resources in this area. Provldlng soclal. cultural. Sportlng and recreational actlvftles and fr•rums for dlscusslons and debato for the personal dev•lopm•nt of Its stud•nts. Page 3

SCHOOL OF ORIENTAL AND AFRICAN STUDIES STUDENTS, UNION Report of th• Tru8ts08 fort￿ Year Ended 31 Juty 2024 Communlty Bulldlng 2023124 began with Freshers events platfonning studerrt-led actsvity, and campaigns. A significant part of communty building through student activity happens student societies and engagement with other student groups at the slart of the academic year. Socletl•s and Sports T•ns In 202&24 we had circa 150 registered s(Kieties and clubs. They organised a wide range of events including musical events, tslks, film screening and socials. We have supwted activty ft)r under- and post- graduates. For example. at th8 end of the academic year postgraduates with Queer Asia Society were supported to hold a film festival over two days. In late 2023, SU room booking was moNpd on to the TES system making it easier for Societies to request rooms and slmpler for staff to manage SU spaces. The first tM)okings were made in January wlih 714 In total to the end of June 2024. The process is easier for sodetles whlle the complex part of the process dealing with the unlversities system Is done by experienced staff. The provision of two new studio spaces In the SU In 2023124 - the Ramla All Studlo and Ihe Ambedka Studlo - made It possible to provlde more Immedlate and re￿rring bwkings for student groups. Reséarch an￿ng the sector has been linking physlcal acfjvlty lo positive educatEonal outcomes. Despiie our Ilmlted space we have sought to SUPFM)rt students looking to engage in regular sport and phys￿￿1 aclivity. In 2023-24 students took part in organis8d regional comp8titions across 9 different disciplines: Badmlnton. Basketball, Crlcket, F￿tball. Nelball, Rugby, Volleyball, Boxing and Taekwondo. Teams saw some success on the regional and national stsge. Th8 Ta8kwondo society was newty fomied in November 2023 and went on to medal in both regional championships and at nationals. Interest in physical actmty Y￿S also met by societies offering non-competthve activbty such as Pilates, Yoga, Dance. Shorlnjl Kemp). Brazllian Ju-Jltsu. Boxlro. Capoelra and more. In 2023124 we saw some cross-over of socielies using sport as an addiiion to their activity, for example Isoc {Islamic Society) ran regular wrestllng sessions. We looked to whelher we could access fundlng from actlve wellbelng prcts and may consider this in future. Page 4

SCHOOL OF oR1E￿rAL AND AFRICAN STUDIES STUDENTS, UNION Roport of tho Trustses for tho Year Endod 31 July 2024 FINANCIAL REVIEW Incom• & Expenditure Account . SOAS Su's gross inwme from all sources from August 2023 to July 2024 amounted to £1,244,886. . Total expenditure was £1.417.898, which meant a net loss of £173.012 for the year. . The Union had a deficlt In funds of £128.169 carried forward at the end of the year. . The Union had fixed asset funds of £3,726 at July 2024, whlch represents the net book value of the assets the unlon has made. The spaces, equipment and Campus serilces trtat the Union utlllses are all owned by SOAS. therefore are not counted among the Union's assets. A numbèr of historical assets V￿re wrltten off at the end of 23124 financial year due to refurblshments In the commerdal outlets. SOAS Grants SOAS SU has continued to benefft from the recognition and support of Ihe Universty, who are our principal funders, and this year the Block Grant was £730,481 In total. Thls money primarily supports our day-to4ay charitable activ￿leS. salarles of the sabbatical officers and core staff, as w811 as funding for sports. socleties. the student representatlon system, Freshers and Welcome Week, campaigns and welfare support, liberation hlstory months and 0th8r m8mb8rship services. The Blo(* Grant also covers funding for the Enough Is Enough consenl programme, Indudlng workshops delivered to 811 students and an SU Cctrordlnator staff member. Som8 of th8 SOAS funds were agreed in-year for additional stsff wsts and general refurbishment costs, as well as for the purchase of sound equipment and new EPOS (electronic point of sale) equlpment used in the bar and other commercial outlets. Unlon Gen•rnted Income £392,871 was generated by commerdal services run by the Union which this year comprised: the shop, selling mostly food and drink, along with some stationery. personal Items and SOAS-branded merchandise; the SOAS bar: and Ihe wffee pod located in Senate House. In addition. merthandise was ctcasionally sold at a popup stall on campus and was available in the SU onllne shop. We run these student-facing mmercial services with a low margin as a service to students, which provldes safe social space within Ihe Untversty. Commercial income has slowly Increased SIn￿ the pandemlc. as more students (as well as staff and guests) have retumed to campus. The year began with the openlng of a refurblshed bar Spa￿ and finished with refurblshment of the shop spsce over summer 2024, both financed by the Universlty. It is anticipated that the changes will generate new and better opportunllles In these student spaces in the coming years. £87,343 was generaled by student societies and clubs in 2023-2024. whlch goes directly back to support the activilies of these groups. Reserves Financlal losses durfng the Covid pandemic period meant that the SU had to use up reserves set aslde In previous years, in order not to enter into loan arrangements or rfsk Insolvency. The Union Is In the process of revlslng Its ReseNes policy and w411 aim to build up ts financial rese￿￿$ once tradlng activities have risen to levels approachlng pre•pandemic years. Until such time, the prim8 objective is to halt annual losses and reach a break even, point in financial lerms for the year. STRUCTURE, GOVERNANCE AND MANAGEMENT Govomlng documont The Charity is controlled by Its govemlng document. a deed of trust and constitutes an unincorporated charity. Charfty conslttullon SOAS Students, Union (SU) is a Registered Charity. Charity Number 1150717. and was registered on the 0610212013. SOAS SU is ￿nStItuted under the Education Act 1994 as a charity with intemal regulations and Constitution approved by the Govemlng Body of the SOAS {the Unlversty) and the Charitles Commtsston. SOAS Su's aims and objectives, as laid out in its constitution, are to provide representstion and support for the students, of the Unlverslty. and are further supplemented by the obj8div8 of helping members to develop their own charitable activiti8S With active partlcipatlon In clvll sodety. Pag8 5

SCHOOL OF ORIEKfAL AND AFRICAN STUDIES STUDEKfs' UNION Report otthè Tmsteos forth• Y•ar Ended 31 Juty 2024 STRUCTURE, GOVERNANCE AND MANAGEMENT Trustses Following the Governanc8 Review in 2022 the SU adopted new govemance and democratic structures for the 2022-23 year. vthllst worklng toward Incorporating as a Charltable Incorporated Organisation. The govemance changes included creating dearer distinctions between the polilical and campaigning and govemance functions of the Union. The most notable of these changes was the addltbn of the External Trustees lo the Board and the appointed Student Trustees. The Trustee Board Is comprised of four Sabbatical Trustees. four Student Trustees (induding one reserved place for the RSA), and Four Extemal Trustees. appolnted for th8ir knowledge. expertise and experience. This has brought SOAS SU In Ilne wlth sector best pracice. The four Sabbatlcal Trustees are elected annually by a cro&wampus secret balbt of the memb8rship. These posts are full-time and remunerated. each posl is elected for a one-year temi and may serve no more than iwo lemK8, either consecutive or non4onsecutive. The Sabbatical Trustees are joined by up to four Student and Four Exiemal Twstees, who are appointed by the Board for thelr knowledge and skills. Sludent Twstees must be members of the Union and cannot also hdd elected office within the Union. they may serve for up to four years. Extemal Trustees must be extemal lo Ihe Union and cannot be students, their term of office shall ordinarity be four years vknich may be renewed up to a maximum of eiqht years. The Trustees meet at leasl four times a year to oversee the Union finances. stratsgic plan, op8fdting plan and risk register. The Twstees report to the membershlp via the SOAS General Meeting, whrch can question dedslons made by the Trustses. ￿ Board of Truslees has the following established sub-commlttees. Govemanc8, Finance and Risk, Commercial Servlces. Appoinknents. and People and Talent. The Trustee Board delegate th8 daY-t{￿Y runnlng of the Charlty to the Chief Exeajtive. Relatlonshlp wlth SOAS The relatM)nship between the Universty and SOAS SU is estsblished in the Standing Order5 of the Unlversity arKI detailed in the SOAS SU ￿nstItu￿On approved by both organlsations. SOAS SU receives a Block Grant from the University, agr8ed annually and occuples part of the SOAS buildings. This nDn-monetary support is intrinsic to the relationship between the UnlverJlty and SOAS SU. In addition to the block granl the School also provides SOAS Students, Union with uiilities, office space, IT and administrative support. Although SOAS SU wntinues lo generate supplementary funding from varlous muiual trading aLtivities, it wlll always be dependent on the Universty's support. There Ss no reason to belteve that this or equlvalent support from the Unlversty wlll not contlnue for the foreseeable future, as the EduCat￿n Act 1994 Imposes a duty on the University to ensure the financial viability of its student repr&sentafve body. Rhk management The responsibilty for Risk Management sits wlth the Trustees who have tssked the Chlef Executive to prepare and update a rlsk reglster for them. Scrutiny of the risk register is a stsndlng Item on the Trustee meeling agenda, and through it the Tw51ees conslder the major business, strateglc. reputational and operatlonal rfsks faced by SOAS SU. Where appropriate, systems or procedures have been estsblished to mltlgate the rfsks the Unlon faces. Budgetary and intemal ￿ntrol risks were mlnlmlsed by the imple￿EntatIon of procadures for authorlsatlon of all transactions and projects. Procedures are in pla lo ensure compliance w5th health and safety of slaff. volunteers and participants on all activltles organlsed by the Union. Th&8e procedures are periodically reviewed to ensure that they continue to meet Ihe needs of the Union. Reportable Issues 2023-24 Although Ihe clrcumstances of this year have been challenging, there have been no reportable serlous incAdents. REFERENCE AND ADMINISTRATNE DETAILS Registered Charity number 1150717 Page 6

SCHOOL OF ORIENTAL AND AFRICAN P>TUDIES STUDENTS, UNION Report ot the Trustees forth• Year Endod 31 July 2024 Principal address Ground Floor, Main SOAS Building Thomhaugh Squa Russell Square London WC1H OXG Trustees El￿ted by SOAS Student Body to hold office from: 1st Aug 202341st July 2024 1st Aug 2022418t July 2023 Full-tlme {Sabbatlcal) Offlcers CtrPresldent Democracy & Educatlon CtrPresldent Welfare & Campaigns C&President Adiviiies & Events C￿PresIdent Equallty & Llberation Reem Walid Sushanl Singh Maryam Choudhary Jamal Akram Gioia S(xzza Sushant Singh PaNvana Hayder Yara Derbas Trustees Patrtda Anne O'Neill (Resigned 21st December 2023) Mohammed Illiyas Jaffar (Reslgned 21st December 2023) Danlel Morelll (Reslgned 20th December 2023) Pamela Joan Bell-Ashe (Reslgned 21 st December 2023) Amaan Hayder Chowdhury (Reslgned 31st July 2024) Hamzah Vargas (Resigned 31st July 2024} Sir Martin Best Harrts (App)Inted 20th February 2024) Elizabeth Wrtght (Appolnted 20th February 2024) Aysh Ahmed Chaudhry (Appointed 9th February 2024) Declan Prout {Appolnted 91h FebNary 2024) Ella Hellman (Appoint8d 19th Septemb8r 2023) (Resigned 8lh February 2024) James Graham Bremner (Appolnted 21st June 2024) Senlor Managem•nt SOAS SU employs a Chlef Exe¢utlve to work closely wilh the trustees and Officers to ensure effectSve management of the charity as head of a team of staff. Audltors Knox Cropp8r LLP Chartered Accountants and Statutory Auditors 153 -155 London Road Hemel Hempstead Hertfordshire HP3 9SQ Bankers Nat West Bank Tavlstock House Tavistock Square London. WC1H 9NA STATEMENT OF TRUSTEES. RESPONSIBILrriES The trustees are responsibl8 for preparing the Report of the Trustees and the financial statements in accordance with applicable law and Unlted Klngdom Accounting Stsndards (United Klngdom Generally Accepted Accounting Practice). Pap7

SCHOOL OF ORIEiifAL AND AFRICAN STUDIES STUDENTS. UNION Rawt of the Trusteos fortho Ygar Endgd 31 Juty 2024 STATEMENT OF TRUSTEES. RESPONSIBILITIES- contlTruod The taw applicable to chariiies in England and Wales. the Charities Act 2011. Charity (A¢￿Unts and Reports) Regulations 24J08 and the provisions of the trust deed requires the trustees to prepare financial statements for each financial year which give a In￿ and fair view of the state of affairs of Ihe charity and of the In￿rnIng ra￿UrceS arKI application of resources. Induding the income and expenditure. of Ihe char5ty for thal period. In preparing those financlal staterr*nts, the trustees are ￿UIred to select sultable accountlng Fdlcles and then apply them consistentty; observe the methcxls and princip18s in the Charity SORP; make judgements and estimales that are reasonable and prudent; sLgt8 whether applicable accounting slandards have been followed, subject lo any mal8rial departures disclosed and explained in the financial statements; prepare Ihe financlal statements on the golng ca)n￿M basls unless It Is Inapproprfale to presum8 that the charity will (x)ntinue in business. The trustees are restK)nsible for keeping proper accounting records which disclose wilh reasonable accuracy at any time the financial FK)sitron of the charity and to enable th8m lo ensure that the finanaal statements compty Wbth the Charities Act 2011. the Charity {Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also restKmsible for safeguarding the assets of th8 charity and hence ft)r tsking reasonable steps for the preven1ion and deledion of fraud and other irregularities. Approved by order of the board of trustees on .....30th May.2025 . and sFgned on its beha￿ ty. audhry- Tntstee Pap8

Report of th• Inde￿ndont Audltors to t￿ Trugt•es of School of Orlontsl and Afrlcan Sludies Stud•nts' Union Opinlon We have audited the financial statements of School of Orientsl and African Studles Students, Union (the 'chaiity') for the year ended 31 July 2024 which comprise the Statement of Financial Activities, the Balan SheeL the Cash Flow Statement and notes to the financial statements, including a summary of signrficant accounting policies. The financial reporting framework Ihat has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice}. In our opinion the financial statements: give a twe and fair view of the s&￿e of the charivs affairs as at 31 July 2024 and of its incomirwJ resources and application of resources. for the year then ended- have been propedy p￿pared in a¢cordanc8 with United Kingdom Generally Accepted Accounting Praclic8; and have been prepared in accordance with the requirements of the Charities Act 2011. Basls for oplnlon We conducted our audit In ac¢ordan¢e with Inlemational Standards on Auditing (UK) {ISAs (UK)) and applicable law. Our r8sponsibilities under those standards are further described in the Auditors, responsibilities for the audit of the financial ststements section of our report. We ar8 independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, induding the FRC'S Ethical Standard, and Y￿ have fulfilled our other ethical responsibilities in accordance with these requlrements. We belteve that Ihe audll evklence we have obtsined is sufficient and appropriate lo provide a basis for our opinion. Concluslons relatlng to golng Goncern In auditing the financial statsments, w8 hav8 conduded that the trustees, use of the going concem basis of accounling in the preparation of the financlal statements Is approprlate. Based on the wotk we have perfomed, we have not identlfied any materlal uncertalntles relatlng to events or conditions that, individually or collectively, may cast significant doubt on the charivs ability to contlnue as going concem for a period of at least twefve months from when the financial ststements are authorised for Issue. Our responslbllltles and the responslbllltles of the trustees with respect to going concem are d8scribed In the relevant sections of thls report. Other Inforniation The trustees are responsible for the other information. The other infomiation comprise5 the Information Included in the Annual Report, other than the financial statements and our Report of the Independ8nl Auditors thereon. Our opinion on the financial statements does not cover the other infomation and, except to the extent otherwise explicitly ststed in our report. VM do not expr8ss any fonn of assurance conclusion thereon. In conneGtlon wilh our audit of the financial statsments. our responsibilty is to read the other information and, in doing so. consider wh8ther the other infomialion is materially inconsistent with the financial statements or our knowledge obtained in the audit or othenwise appears to be materially misststed. If we idenlrfy such material in(x)nsistencies or apparent material misstat8m8nts, w8 are required to detemiine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed. we conclude that there is a material misstatement of this 0th8r information, we are required to rewrt that fact. We have nothing to report in this regard. Matters on whlch we are roqulred to roport by excopuon We have nothing to report in respect of the following matters where the Chartlies (Accounts and Reports) Regulalions 2008 requires us to report to you rf. in our opinion: the information given in the Report of the Trustees is inconsistent in any mat8rial respect with the financial sLgtements,' or sufficlent accounlng re￿rdS have not been kept" or the financial statements are not in agreement with the acLX)unting records and retums; or we have not received all the infonnation and explanations we require for our audit. Page 9

Rw•rt of tho Indepondont Audltors to tho Tru8tO08 of School of Orlontsl and Afrlcan Studles Students. Unlon Responslbllldes of truste88 As explained more fijlly in the Statement of Trustees, Responsibilities. the trustees are responsible for the preparation of the financial statements which give a true and fair view, and ft)r such intemal control as the Irustee5 determine Is necessary to enable the preparation of financial statements that are fr88 from materlal misstatement, wh8th8r due to fraud or error. In preparing the ffinancial statements, the trustees are responsible for assessing the charitys ability to (x)ntinue as a going concem, disclosing, as applicable. matters related to going cx)nc£m and using the going (x)ncem basi5 of accL)unting unless the truste8s either intend to liquidale the tharity or to cease operations, or have no realistic allemative but to do so. Our responsibilities for the audit of the financlal slatements We have teen appoinied as auditor5 ufKleT Section 144 of the Chariti8s Act 2011 and report in accordanc8 with the Act and relevant regulations made or having effed thereunder. Our objectives are to obtsin reasonable assurance about whether the financaal statements as a Mthole are free from material misstatement whether due to fraud or error, and lo issue a Rewi of the Independent Auditor5 that indudes our opinion. Reasonable assurance is a high level of assurance, but Is not a guarantee that an audit conducted in accordance with ISAS (UK) will always detect a material misstalement when It exists. Misststements can arise from fraud or error and are considered material rf. individually or in the aggregate. thgy Ix)uld reasonably be expected to Influence the economic decisions of users taken on the basls of Ih&8e financlal statements. The ext8nt to which our procedures are capable of detecting irwularities, induding fraud is detslled below: . Th8 Charity is required to comply vAth charfty law and, based on our knowledge of its aciivities. we Identified that the legal requlrement to accurately account for restricted funds was of key slgnlficance. . We gained an understanding of how the charlty wmplled wlth ts legal and regulatory framework. In¢ludSng the requirement to propedy account for restrScted funds, through dIs￿l$S1on$ wilh management and a review of the do￿rnented policies. procedures and controls. The audit team, which is experienced In the audlt of charities, considered the charftys susceptibility to materfal mlsstatement and how fraud may occur. Our i￿sIderatIOnS induded the rfsk of management overrMIe. . Our approach was lo check that all restricted income was properly identified and separately accounted for and to ensure that only valid and appropriate expenditure was charged to restrlcted funds. This Induded reviewing joumal adjustments and unusual transactions. There ar8 inherent llmitatl0r￿ In the audit procedures described above and, the further removed nonwcompliance with laws and regulations B from the events and transactions reflected In the finan(aal statements. the less Ilkely we would b8come aware of it. The risk of not detecting a material missLgtement due to fraud is higher than the risk of not delecting one resulting from error. as fraud may involve deliberate concealment by. for example. forgery or intenlonal misrepresentations. or through ￿llUSIon. A further descriplion of our responsibilities for the audit of the finandal statements is lolxted on the Financial Reporting Council's website at w¥wi.frc.org.uklauditorsresponsibiliiies. This description fonns part of our Report of the Independent Auditor5. Page 10

Report of the Indepondont Audltors to th8 Truste•s ot School of Oriental and African Studles Sludents. Unlon Use of our report This report is made solely to the charivs trustees. as a body, in accordance with Part 4 of the Charittes (Acrx)unts arKI Report5) Regulations 2008. Our audit work has been undertaken so that We might state to the charivs trustees those matters we are required to state to them in an auditors, report and for no other purwse. To th8 fullest extent pernitted by law. do not accept or assume responsibility to anyone other than the charlty and the charlty's trustees as a body. for our audlt work. for thls report, or for the opinions we have formed. Gw LLP Knox Cropper LLP Chartered Accountants and Statutory Auditors 153 -155 London Road Hemel Hempstead Hertfordshire HP3 9SQ Date: ......... Page 11

SCHOOL OF ORIEpifAL AND AFRICAN STUDIES STUDENTS. UNION Stalgmgnl of Financial Activities for the Yoar Ended 31 Juty 2024 2024 Total funds 2023 Total Unrestricted funds funds Notes INCOME AND ENDOWMENTS FROM Donations and legacies 730,481 730.481 686.011 Charitable actlvitles Union bar Union shop Coffee Pod Clubs and societies Events 154.733 158,692 79A46 154,733 158,692 79846 87.343 2.570 208.875 240,174 70.340 73,075 2,842 87.343 2.570 other trading activities Investment income Other in(x)me 6,098 1,014 23,758 751 6￿49 1.014 23.758 11.583 334 Total 1.156.792 88.094 1.244886 1296.297 E￿￿ENDITuRE ON charitab￿ actlvllles Welfare and campaigns Union bar Unlon shop Coffee Pod Subscrlptlons and affiliation fees Clubs arKI societies Unbn entertalnment SOAS Radio Events Scholarship Enough is ErDugh Leaming & Teaching 6.211 297.652 432.833 145,663 94.704 79,992 81.705 51A92 19.382 6.211 297,652 432.833 145,663 94704 245,086 81.705 51A92 19,382 1.050 31.064 11,056 4.810 292,991 452.452 107.876 90.060 236.244 82,125 62.359 5.106 750 38.040 165,094 1,050 31.064 11.056 Total 1.251.754 166.144 1.417098 1.372,813 NE[ INCoMEI(EXPEND￿uRE) Trnnsfer5 belween funds (94.962) (82.839) (78.050) 81839 {173,012) (76.516) 16 N•t m¢Mm•nt In funds (177,801) 4,789 (173,012) (76,516) RECONCILIATION OF FUNDS Total funds brought fopNard 29.129 15.714 121,359 TOTAL FUNDS CARRIED FORWARD {148,672) 20,503 (128,169) The notss ftjrn part oftrEse financial ststements Page 12

SCHOOL OF ORIENTAL AND AFRICAN STUDIES STUDENTS, UNION Balanu Shoot 31 Juty 2024 2024 Total funds 2023 Total funds funds funds FIXED ASSETS Tangible assets Soclal Investments 11 12 3.726 3,250 3,726 3.250 51,840 3,500 6.976 6.976 55,340 CURRENT ASSETS stocks Debtors Cash at bank 13 14 12,468 25,769 5.513 12.468 42,593 9,192 18.007 68,236 $9,195 1￿824 3,679 43.750 20,503 64253 145.438 CREDITORS Amounts falllng due wlthln one year 15 (199,398) (199,398> (155,935) NET CURRENT ASSETSI(UABILmES) 1155,648) 20,$03 (135.145) (10,497) TOTAL ASSETS LESS CURRENT UABILrnES (148,672> 20.503 (128,169) NET ASSETSI(UABILrriES) (148,672> 20,503 (128,169) FUNDS Unrestrscted fijnds Restricted funds 16 (148,672) 20.503 29.129 15.714 TOTAL FUNDS (128,169) 44.843 The financial statements were approved by the Board of TNstees and authoris8d for Issue on 3Qth.May.202S........ and were stgned on ts behalf by: Chaudhry - Trustee The notes fom) part of th858 finan￿￿1 statements P8ge 13

SCHOOL OF ORIEMfAL AND AFRICAN STUDIES STUDENTS. UNION Cash Flow statsmont for the Year Ended 31 July 2024 2024 2023 Notes Cash flows from operating activities Cash generated from operatlons (47,322) 11.760 Net cash (used Inyprovided by operating activities {47.322) 11.760 Cash flows from Invesllng actlvltles Purchase of tsngibl8 ￿ed assets Sale of soclal investments Interest received (3.945) 250 1,014 250 Net cash (used inyprovided by investing activities (2,681) Chango in cash and cash equivalents In the raportlng perlod Cash and cash equivalents at the beglnnlng of the roportlng prfod (50,003) 12.344 59,195 48,851 Cash and Cash equlvalents at the end of Ihe reportlng period 9,192 59,195 The rK)tes forrn part of these financial statements Page 14

SCHOOL OF ORIEKfAL AND AFRICAN STUDIES STUDENTS, UNION Notss to the Cash Flow Statement for the Year Endgd 31 July 2024 RECONCILIATION OF NET EXPENDITURE TO NET CASH FLOW FROM OPERATING ACTIVITIES 2024 2023 Net expendlture for the reportlng perfod (as per the Statement of Flnancial Activltl•s} Adjustments for: Depreciation charg88 Loss on disposal of fixed assets Interest recelved Decreasel(Increase> In stocks Decreasel(increasel in debtors Increas8 in creditors (173,012 (76.516) 1,914 50,145 (1,014) 5,539 25,643 43A63 15,396 {334) (5.591) (25,484) 104,289 Net (uged Inyprovlded by operatlon8 {47,322) 11,760 ANALYSIS OF CHANGES IN NEf FUNDS At 1.8.23 Cash fiow At 31.7.24 Net cash Cash at bank and in hand 59,195 (50,003) 9.192 59,195 (50,003) 9,192 Total 59,195 (50,003) 9.192 The not88 fonn part of financial statements Page 15

SCHOOL OF ORIENTAL AND AFRICAN STUDIES STUDENTS. UNION Notos to tho Financial 8tatgm0nts ft*r the Year Ended 31 Juty 2024 ACCOUMflNG POUCIES Basis of prnparfng th financlal slalements The financlal statements of the tharfty. whlch Is a publlc benefit enw under FRS 102, have been prepared in accordance with the Charities SORP (FRS 1021 'Aco)unting and Re￿Tting by Charltles: Stalement of Recommended Practlce appllcable to charitles preparfng Ihelr accounts in accordan wlth the Flnanclal Reportlng Stsndard appllcable In the UK and Republlc of Ireland (FRS 102) {effectiv8 1 January 2019),, Financial Reporting Standard 102 The Financial Reportlng Standard appllcable In the UK and Republlc of Ireland, and the Charltses Act 2011. The finandal statements have been pr8par8d und8r the historical cost (x)nv8ntion. Incomg All income is recognised in the Statement of Financial Aciiviti8s once the charity has entEtlement to Ihe funds, It Is probable that the Income wlll be recefved and the amount can be measured reliably. Expendlture Liabilities are recognised as expenditure as soon as Ihere is a legal or constructive obllgallon committing the charity to that expenditure, il is probable that a transfer of economlc beneffts will be required In settlement and the amount of the obligatlon can be measured reliably. Expendiiure Is accounted for on an accruals basis and has b88n dassified under h88dings that aggregate all cost relaled to the category. Where costs cannot be dlrectly altrlbuted to partlcular headings they have been allocated to activiti8s on a basis consistsnt with the use of resources. Tanglbl• fix•d assets Are recorded at cosL Items thith a value below £1,000 ar8 not (xpitaltsed. Depreclatlon Is provkled for at the folk)wing ratss in order to write off each asset over ts esllmated useful life. Improvements to property Fixtures & fittings - 100A on o)st - 20% on cost Stocks stocks are valued at the I￿Ner of cost and net realisable value, after maklng due allowance for obsolete and slow movlng Items. Taxallon The charity is exempt from tax on Its charitable adivtties. Fund accountlng Unrestrlcted funds can be used In acco￿an￿ wlth the charitable objectlves at the discretion of the trustees. Deslgnated funds are set aslde by the Irustees out of unreslActed general funds for specific future purposes or projects Restricted funds can onty be used for partlcular restslctsd purposes. Restslctions arise when speclfied by the donor or when funds are ralsed for particular restricted purposes. Restricted fijnds comprise of the sports and soci8ti8s fund, which r8pres8nts funds ralsed by the Indlvldual clubs and socletles for thelr own use. Retlremenl bonoffts The charfty operates a deffined conlrfbutlon penslon scheme. Contrfbutlons payable to the charws pension scheme are charged to the Stat8ment of Financaal Activities in th8 P8riod to which they relats. Page 16 continued...

SCHOOL OF ORIENTAL AND AFRICAN STUDIES STUDENTS. UNION Notes to Flnanclal 8tatsmonts - ¢onlinuod for the Year Ended 31 Juty 2024 ACCOUNTING POLICIES - ¢ontlnued Golng concem After maklng approprlate enqulrles. the twstees have a reasonable expectstlon that the charity has adequate resources to continue in operational exlstence for the foreseeable future. For thls reason. they contlnue to adopt the golng COn￿M basls In preparfng the finandal statements. DONATIONS AND LEGACIES 2024 2023 School grant 730.481 686,011 OTHER TRADING ACTIVITIES 2024 2023 Sponsorships Commission income Other trading activities 1,000 79 10,504 11,583 INVESTMENT INCOME 2024 2023 Deposlt account interest Social Investment Interest 839 175 146 1,014 INCOME FROM CHARITABLE AcTI￿lEs 2024 2023 ActIv￿Y Union bar Unlon bar Union shop Union shop Coffee Pod Bar sales Suppller target dlscount Snack shop sales Supplier target discount Coffee Pod Sales SOAS Detainee Support Group Clubs and Sodeties income Fresh8rs Fayre 148,430 6.303 158.692 206,874 2,001 239.401 773 70,340 79,446 Clubs and s￿le￿eS 35,283 Clubs and soclelles Events 52,403 2,570 37,792 2.842 482,784 595.306 Page 17 continued...

SCHOOL OF ORIENTAL AND AFRICAN STUDIES STUDENTS. UNION Noto9 to tho Financial 8tatsmonts - continuod for th¢ Year End•d 31 July 2024 CHARITABLE ACTIVITIES COSTS Support costs {see note 7) Dired Costs Totsls Welfare and campaigns Union bar Un(on shop Coffee Pod Subscriptions and affiliation fees Clubs and societies Union entèrtainment SOAS Radio Events Scholarship Enough Is Enough Leaming & Teaching 6.211 213,287 222,020 92,337 14.712 165.094 1.713 47A59 19.382 1.050 31,OfA 11.056 6,211 297.652 431833 145.663 94,704 245.086 81.705 51 N92 19A82 1.050 31.064 11,056 84,365 210.813 53,326 79.992 79,992 79.992 4033 825,385 592.513 1A17.898 SUPPORT COSTS Management Flnance Totsls Union bar Union shop Coffee Pod Subscriptions and affiliation fees Clubs and societies Union entertainment SOAS Radio 81,274 203.081 51,370 77,057 1,582 3.959 1,002 1,503 1,503 1,503 77 3.773 954 1,432 1,432 1,432 72 210,813 53.326 79.992 79.992 79.992 77,057 570.780 10,604 11,129 592.513 Basis of allocation student Social Enterprise- 49.5% (split as a % of tumover) Management Student represenlatlon and activth8s - 49.5% and 1 % Goveman student Social Enterprise - 49.5 /0 {spllt as 8 % of tumover) Flnance Student r8pr8s8ntalion and activiti8s - 49.50/0 and 1 % Govemance Studenl Sodal Enterprfse - 49.50/0 {spltt as a 0/0 of tumover) Govemance costs Studenl representalion and activities - 49.5% and 1 % Govemance Page 18 rnntinued...

SCHOOL OF ORIEKfAL AND AFRICAN STUDIES STUDEKfs' UNION Not89 to the Flnancial Statemonts - continued for tho Yèar Endod 31 Juty 2024 SUPPORT COSTS - contlnued Support costs, Snduded in the above. are as follows: SubpKrfpUons and affiliatlon Unlon shop Union bar Pod Trustees, remun8ration etc Salaries Social security Penslons Website and social media Prlnting and statlonery Other expenses Travelling Staff training & other expense Computer software & consumable Professional fees Insurance Irrecoverable VAT Depreciatlon - tanglble assets Loss on sale of tsnglble fixed assets Bank charg8S Auditors, remuneration Other govemance expenses Democracy & electlon expenses Legal and professional 19,690 35,729 3,403 5,841 997 120 63 371 49,195 89,276 8,506 14594 2.491 12A43 22,582 2,152 3.692 630 75 39 235 18,666 33,874 3,228 5,537 112 59 353 156 1,437 3,591 909 743 3,138 1.253 1,078 1,868 470 705 2,976 1.189 1.021 3,134 2,691 793 271 681 172 259 7,140 17.841 3,T13 2,754 4,513 954 6.770 1,432 1.045 1,101 200 502 127 74 72 207 515 130 195 210,813 53,326 79.992 2024 Total 2023 Total a¢llvltles Clubs and Union soclelles entertalnment SOAS Radlo Trustees, remuneratfon etc Salaries Social se￿rIty Pensions Website and soclal medla Printing and stationery OU)er expenses Travelling 18,666 33,874 3,228 5,537 18.666 33,874 3,228 5,537 138,267 250.915 23,908 41,017 7,001 833 438 2,612 162,078 254A72 16.177 34,798 13.691 93 322 2,906 1,706 163 279 112 112 353 18 Carrfed for•vard 62.774 62.774 3,164 464,991 484,537 Page 19 continuèd...

SCHOOL OF ORIENTAL AND AFRICAN STUDIES STUDENTS. UNION Notes to the Flnanclal Statements - ¢ontlnued for the Year Ended 31 July 2024 SUPPORT COSTS- contlnued 2024 Totsl 2023 Total Clubs and societies Union entertainment SOAS Brought forward Staff training & other expense Computer softwar8 & consumable Professtonal fees Insurance Irrecoverabl8 VAT Depreciation - laThJible assets Loss on sale of tanglble fixed assets Bank charges Auditors, r8mun8ration Other goveman( expenses Democracy & election expenses Legal and professional fees 62.774 62.774 3.164 464.991 484.537 1.363 1.363 10.0 705 2.976 705 1976 1.189 1.021 36 150 60 51 5.222 22.042 8,807 6.992 1.067 1,021 13 1￿14 15.396 6,770 1,432 6,770 1.432 341 50,145 10.604 7.740 15.355 8,010 191 10 1A12 1.021 72 530 1,515 195 195 10 IA47 36,779 79.992 79.992 4033 592.513 579,738 TRusfEES' REMUNERATION AND BENEFITS None of Ihe trustses were remunerated or paid expenses in respect of the perft)rmance of their duues as trustees. Trustees were remunerated In respect of thelr roles as sabbatlcal offi￿rS. See note 17. Trustees. oxpenses No trustees V￿re paid expenses in respect of tr* perfomiance of their dutres as trustees. STAFF COSTS 2024 2023 Wages and salaries So￿81 securlty costs other pension costs 693,338 44.320 63,232 745,292 25.946 53,300 800.890 824.538 Page 20 o)ntinued...

SCHOOL OF ORIENTAL AND AFRICAN STUDIES STUDENTS, UNION Notss to the Flnanclal Statements - contlnu•d for tho Yoar Ended 31 July 2024 STAFF COSTS - conllnued Th8 average monthly number of employees during the year was as follows: 2024 2023 Full time manag8m8nt staff Full tlme sabbatlcal offlcers Part time stsff 31 48 No employees recelved emluments in excess of £60,000. 10. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTivrriES Unrestricted funds Re￿rIcted fvnd8 Total lunds INCOME AND ENDOWMENTS FROM Donatlons and legacles 686.011 686,011 Charttable acllvttles Union bar Unlon shop Coffee Pod Clubs and societies Events 208,875 240.174 70,340 208,875 240.174 70.340 73.075 2,842 73,075 2.842 other tradlng actlvltles Investment Income other income 11,583 334 3.063 11,583 334 3,063 Total 1.223.222 73,075 1,296,297 EXPENDITURE ON Charltable actlvllles Welfare and campaigns Unlon bar Union shop Coffee Pod Subscrfptions and affiliation fees Clubs and societies Unlon entertalnment SOAS Radio Events Scholarship Enough is Enough 4.810 292,991 452,452 107,876 90,060 123.466 82,125 62,359 5,106 4.810 292,991 452.452 107,876 90,060 236.244 82,125 62.359 5,106 750 38.040 112.778 750 5.488 32.552 Total 1.253.797 119,016 1,372.813 NE[ INCOMEI(EXPENDITURE) Transfers between funds (30,575) (18.533) {45,941 } 18,533 (76,516) Net movoment In funds (49,108) (27,408> (76,516) Page 21 conlinued...

SCHOOL OF ORIEKfAL AND AFRICAN STUDIES STUDENTS, UNION Noies to the Flnanclal Statements- contlnued lor the Ygar Ended 31 Juty 2024 10. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACMVITIES - ¢ontlnu Unrestrithd Restricted fiJrKIs funds Tolal funds RECONCILIATION OF FUNDS Total funds brought for¥vard 78237 43,122 121,359 TOTAL FUNDS CARRIED FORWARD 29.129 15.714 44.843 11. TANGIBLE FIXED ASSErs Fixtures and Plant arKI machinery propety Totals COST At 1 August 2023 Addiiions Disposals 124851 83.891 209,742 {125.851) (9.174) (135.026) At 31 July 2024 74,717 78,662 DEPRECIATION At 1 August 2023 Charge for year Ellmlnated on dlsposal 75,706 82.196 1,125 (9,174) 157,902 1,914 (84.880) 175,706) At 31 July 2024 74,147 74936 NET BOOK VALUE At 31 July 2024 3.156 570 3.726 At 31 July 2023 50,145 1.695 51.840 12. SOCIAL INVESTMENTS Loans MARKETVALUE At 1 Augusl 2023 Repayments in year 3,500 (2SO) At 31 July 2024 3,250 NEf BOOKVALUE At 31 July 2024 At 31 July 2023 Page 22 continued...

SCHOOL OF ORIENTAL AND AFRICAN STUDIES STUDEKfs' UNION Notes to the Financial Statements - contlnued fortho Year Ended 31 July 2024 13. STOCKS 2024 2023 Stocks 12A68 18,007 DEBTORS: AMOUNTS FALUNG DUE WITHIN ONE YEAR 2024 2023 Trade debtors Oth8r debtors Prepayments and accrued Income 26.956 5,798 9,839 57.134 11,102 42,$93 68,236 Other debtors relates entirety to the grant received from SOAS 15. CREDrroRS.. AMOUNTS FALLING DUE vvfrHIN ONE YEAR 2024 2023 Trade creditors Taxation and social Se￿ilty Other credltors 126,599 712 72.087 30.808 6.719 118,408 199J98 155,935 1& MOVEMENT IN FUNDS Net )vement in funds Transfers beiween funds At 31.7.24 At 1.8.23 Unrestrlctsd funds General fund Fixed Asset {22,711) 51.840 (42,902) (52.060) (86,785> {152,398) 3,946 3,n6 29.129 (94962) (82.839) (148.672) Restricted funds Transport fund Clubs and So(ieties Sanctury Scholarship Programme 219 10.766 4729 (219) 176,781) {1.050) 82.839 16,824 3.679 15.714 178.050) 82,839 20,503 TOTAL FUNDS {173.012) {128,169) Pa98 23 conilnued...

SCHOOL OF ORIENTAL AND AFRICAN STUDIES STUDENTS. UNION Notes to the Financial Stat•monts - contlnuod for tho Yaar Ended 31 July 2024 MOVEMENT IN FUNDS - contlnued Net movement in funds, included in above are as follows: Incomi resourc85 Re8wrces expended Movwnent in funds Unrestrlctsd funds General fund Fixed Asset 1,156,792 {1,199,694) (52,060) {42,902) (52.060) 1.156.792 {1,251.754) {94.962) Restrlcted funds Ttansport fund Clubs and Societies Sanctury Scholarship Programme (219) (164,875) (1,050) {219) 176.781) (1.050) (166,144) 178,050) TOTAL FUNDS 1.244886 (1,417.898) (173.012) Comparatlv•s for movement in funds Net verrent in furKI$ Transfers beIN￿en funds At 31.7.23 At 1.8.22 Unrestrlct•d funds General fund Fixed Asset 12.415 65.822 (15.179) (15.396) (19.947) 1.414 (22.711) 51.840 78.237 (30.575) (18.533) 29.129 Rostrfcted funds Sports faciliti8S TransFK)rt fund Clubs and So(ietie5 Consenl Training Programme Sanctury SGholarship Programm8 17.799 3.514 10.842 (17,799) (3.295) (18,609) (5.488) 1750) 219 10.766 18.533 5.479 4.729 43.122 (45,941) 18,533 15.714 TOTAL FUNDS 121,359 (76.516) Page 24 continued...

SCHOOL OF ORIENTAL AND AFRICAN STUDIES STUDENTS, UNION Notss to tho Flnanclal Statements - contlnuod for the Y￿r Endod 31 Juty 2024 16. MOVEMENT IN FUNDS - continued Comparative net movement in funds, induded in the above are as follows: Inrxjming resources Resources expended Movement in funds Unrostslcted funds General fund Fixed Asset 1.223,222 (1.238,401) (15,396) {15.179) {15,396) 1,223,222 (1,253,797) (30.575) Restricted funds Sports facllitles Transport fund Clubs and Socletles Consent Training Programme Sanctury Scholarship Programm6 3.004 (20,803) (3,295) (88,680) (5,488) (750) {17.799) {3,295) (18.609) {5,488) (750) 70.071 73,075 (119.016) {45,941) TOTAL FUNDS 1,296,297 (1,372,813) 176,516) A current year 12 months and prior y8ar 12 months combined position is as follows: Net mov8m8nt in funds Tran￿er$ belween fvnds At 31.7.24 At 1.822 Unrestrlctsd fund8 General fund Fixed Asset 12,415 65,822 (58,081 } (67,456) (106.732) (152,398) 5,360 3,726 78,237 {125,537) (101.372) (148,672) Restrlcted funds Sports facilities Transport fund Clubs and Socleties Consent Training Programme Sanctury Scholarship Programme 17,799 3.514 10,842 <17,799) {3.514) (95,390) (5.488) (1,800) 101,372 16,824 5,479 3.679 43.122 (123.991) 101,372 20.503 TOTAL FUNDS 121.359 (249.528) (128,169) Page 25 continued...

SCHOOL OF ORIENTAL AND AFRICAN STUDIES STUDENTS, UNION Noto8 to the Flnan¢lal Stst•ments - conlinuod for the Year Ended 31 July 2024 16. MOVEMEKf IN FUNDS - ￿ntInU•d A current year 12 months and prlor year 12 months combined net movement in funds. Included in the above are as follows: IncomlNJ Resources expended Movement in fvnds Unrestrictsd funds General fund Fixed A5sel 2.380.014 (2.438.095) (67.456) (58,081) (67.456) 2.380.014 (2,505,551) {125.537) Restrictsd funds Sports facilities TrarLSPOrt fund Clubs and Socielies Consent Training Programme Sandury Scholarship Programme 3.004 (20,803) (3.514) (253.555) (5,488) (1.800) (17.799) (3.514) (95.390) {5.488) {1.800) 158.165 161,169 (285.160) (123.991) TOTAL FUNDS 2,541,183 (2.790.711) (249.528) Restrlcted funds Comprlse of tho followlng: The Fixed Asset Fund represents the net book value of assets fvnded from unrestricted reserves. Clubs & ￿le118S Fund, which represents funds rdised by the Indlvldual clubs and societies for their own use. Sports Ground Fund and Transport Fund - funds given as part of the annual grant from SOAS to be SP8nt exclusivety on sports teams for trfxjking pitches and venues, buylng essential kit and equlpmenl for playlng sports, costs for coaching and match officials, fees for memberships and toumaments and transport for games. Sanctuary Scholarshlp Programme Fund - one￿[ funding for activty associated with the Solldarity with Refvgees and Displaced People Society. 17. RELATED PARTY DISCLOSURES The Union transacts with the University of Oriental & Afri(xn Studi8s (SOAS) their relationship is defined in the Report of the Trustees. A grant was received by the Union from SOAS as detsiled in the not8S to the accx)unts. Note 2. The following transactions took place with sabbati￿1 officer5 in the year ended the 31st July, 2024 Sabbatlcal Post S Singh M Choudhary R Walid J Akram H Zaib S Shalkh Salary EmployersPenslon £13.103 £2,665 £29,658 £4.745 £29.658 £1.564 £29.658 £1.173 £2.472 £395 £1,355 £285 Employor8NIC £1,221 £2.837 £2,837 £2,837 Total £16.989 £37.240 £34.059 £33.668 £2,867 £1,722 £82 In 2017 a fixed assel Investment loan (note 12) was made to Unlsolar Ltd. a Communty Ben8fit Society limited by guarantee. The Unk)n made bNO loans lo Unlsolar Ltd, one of £6,000 at 0% for 5 year term and, another for £S,000 at 5Yo Interest for 20 year lenn. Page 26