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2025-07-31-accounts

E-Sign ID: 488931c5-8475-4de9-bc5d-98cf752a4540

Report of the Trustees and

Financial Statements for the Year Ended 31 July 2025

for

SCHOOL OF ORIENTAL AND AFRICAN STUDIES STUDENTS' UNION

Knox Cropper LLP Chartered Accountants and Statutory Auditors 153 -155 London Road Hemel Hempstead Hertfordshire HP3 9SQ

E-Sign ID: 488931c5-8475-4de9-bc5d-98cf752a4540

SCHOOL OF ORIENTAL AND AFRICAN STUDIES STUDENTS' UNION

Contents of the Financial Statements for the Year Ended 31 July 2025

Page
Report of the Trustees 1 to 8
Report of the Independent Auditors 9 to 10
Statement of Financial Activities 11
Balance Sheet 12
Cash Flow Statement 13
Notes to the Cash Flow Statement 14
Notes to the Financial Statements 15 to 23

E-Sign ID: 488931c5-8475-4de9-bc5d-98cf752a4540

SCHOOL OF ORIENTAL AND AFRICAN STUDIES STUDENTS' UNION

Report of the Trustees for the Year Ended 31 July 2025

The trustees present their report with the financial statements of the charity for the year ended 31 July 2025. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).

OBJECTIVES AND ACTIVITIES

Aims, Objectives and Activities

SOAS Students' Union's Charitable Objects are the following:

The Union's objects are the advancement of education of Students at The School Of Oriental and African Studies for the public benefit by:

  1. Promoting the interests and welfare of students at The School of Oriental and African Studies (University of London) during their course of study and representing, supporting and advising students;

  2. Being the recognised representative channel between students and The School of Oriental and African Studies and any other external bodies;

  3. Providing social, cultural, sporting and recreational activities and forums for discussions and debate for the personal development of its students.

In pursuit of these aims for the public benefit, SOAS SU will ensure the diversity of its membership is recognised, valued and supported and has established services for use by its members to support its work within SOAS. These include over 160 student-led societies, campaigns groups & sports teams, our advice service, the Course Representative scheme in addition to curating our social spaces and events.

The Union continues to represent SOAS students on relevant local, national and international issues through our Executive Committee, Sabbatical Officers and Course Reps based at a local level in Departments. Student representatives sit on all the relevant decision-making committees of the School including the SOAS Board of Trustees. Student representatives attend departmental meetings and take part in SOAS' policy development, strategic decision-making and working groups.

The Union works with the School's professional services to create a better experience for SOAS students, including the Student Experience, Engagement & Retention Team, the Student Advice & Wellbeing Service, the Careers Service and Widening Participation department. Through our societies and campaigns students volunteer in the community, fundraise and raise awareness of local and global concerns. We continued our Enough is Enough programme, a student-led initiative delivering consent education to tackle sexual & gender-based violence. The Union has continued to work with the School on student-initiated projects around decolonising education and the institution. When reviewing our objectives and planning our activities, we give due consideration to the Charity Commission's general and relevant supplementary guidance on public benefit.

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E-Sign ID: 488931c5-8475-4de9-bc5d-98cf752a4540

SCHOOL OF ORIENTAL AND AFRICAN STUDIES STUDENTS' UNION

Report of the Trustees for the Year Ended 31 July 2025

ACHIEVEMENTS AND PERFORMANCE

During 2024/25, SOAS Students' Union continued to advance the educational interests, welfare and wider student experience of SOAS students through representation, advice, community building and student-led activity. Despite operating within a challenging higher education environment, the Union maintained a strong focus on student support, democratic engagement, organisational reform and strengthening student voice across the institution.

The Union continued to deliver a broad range of services and opportunities for students, including support for over 160 student-led societies, campaigns and sports teams, an independent Advice Service, the Course Representative network and large-scale student engagement activity throughout the academic year. Student representatives remained embedded within institutional governance structures, including departmental committees and the SOAS Board of Trustees, ensuring students continued to influence decision-making across the university.

The Advice Service, now in its seventh year, supported students through a range of academic and welfare-related issues, managing 159 new cases during the academic year alongside 26 ongoing cases from previous years. A notable reduction in escalation cases suggested improved early intervention and more proactive engagement by students with support services before issues became more serious. The Union continued to work closely with university wellbeing and student support teams to ensure students received coordinated and effective support.

The Union also delivered the eighth year of its Enough is Enough programme, a major peer-led consent education initiative focused on tackling sexual and gender-based violence on campus. During the year, 86 workshops were delivered to 1,735 students, reaching approximately 55% of first-year students. The programme further strengthened its collaboration with the university through participation in institutional safety initiatives, awareness campaigns and survivor support activity, whilst preparing for future regulatory requirements linked to OfS Condition E6.

Across democratic structures, the Union undertook reforms to improve engagement, sustainability and organisational effectiveness. Following extensive student consultation, the number of Sabbatical Officers was reduced from four to three, enabling resources to be redirected towards student groups and activities whilst creating a structure more aligned to operational delivery and student priorities. Elections during the year saw lower turnout levels, influenced by wider institutional disengagement and student boycott activity, though work undertaken subsequently helped rebuild positive student sentiment towards the Union and re-establish engagement.

Student representation activity continued through a network of 134 Course and College Representatives operating across departments and colleges. While staffing challenges impacted delivery early in the year, student representation outcomes improved overall, including an increase in positive responses to the National Student Survey question relating to how effectively the Students' Union represents students' academic interests. College Representatives continued to strengthen links between students and academic leadership through regular engagement with Heads of College and participation in institutional learning and teaching initiatives.

Community building and student engagement remained central to the Union's work. Freshers' activity, societies and sports clubs continued to play an important role in fostering belonging, participation and student leadership opportunities. During the year, approximately 160 societies and clubs organised a wide range of academic, cultural, political and social activities, alongside participation in regional and national sporting competitions across ten disciplines. Student groups made over 625 room booking requests through the Union's systems, demonstrating continued high levels of engagement in extracurricular activity and peer-led community spaces.

Alongside its representational and student-facing work, the Union made significant progress in strengthening its financial management, operational oversight and governance infrastructure.

The organisation ended the 2024/25 financial year broadly in line with its forecast deficit of approximately £50,000. Whilst this represented a planned deficit, it reflected the legacy impact of historic cost structures, particularly fixed staffing costs, alongside deliberate investment into commercial restructuring and improvements to financial systems and controls.

During the year, the Union undertook a substantial overhaul of its financial management processes to improve transparency, accountability and long-term sustainability. Monthly accruals and depreciation reporting were implemented for the first time, significantly improving the accuracy and reliability of financial reporting. The organisation also completed a full migration to the Xero cloud accounting platform, reducing system costs, improving efficiency and enabling more accurate real-time financial oversight. As a result, management accounts are now significantly clearer, more timely and more accessible, with regular reporting being shared with the university to improve transparency, institutional confidence and strategic engagement.

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E-Sign ID: 488931c5-8475-4de9-bc5d-98cf752a4540

SCHOOL OF ORIENTAL AND AFRICAN STUDIES STUDENTS' UNION

Report of the Trustees for the Year Ended 31 July 2025

Whilst these changes represent a major improvement in financial governance and operational maturity, liquidity and cashflow management remain one of the Union's most significant strategic risks. The relationship with the university strengthened considerably during the year, with increased collaboration, transparency and flexibility helping stabilise the immediate financial environment. However, whilst this support has reduced short-term pressure, it does not remove the Union's underlying exposure to liquidity risk.

Therefore, the Union's overall financial risk profile improved during the year, with the organisation moving from a "critical" to a "high" financial risk position. This reflects meaningful progress in stabilisation and governance, though not yet full resolution. Financial resilience and long-term sustainability therefore remain a central strategic priority for the organisation moving forward.

The Union's focus for the coming year will be on maintaining strict financial discipline, closely monitoring cashflow performance, embedding stronger forecasting and reporting processes, and developing a longer-term reserves strategy capable of gradually rebuilding organisational resilience and reducing financial vulnerability over time.

Overall, 2024/25 was a year characterised by organisational resilience, structural reform and continued delivery during a complex operating environment. Despite significant sector-wide pressures, the Union continued to represent students effectively, strengthen community and participation, improve internal governance and financial systems, and position itself on a more stable and sustainable footing for the future.

Promoting the interests and welfare of students at The School of Oriental and African Studies (University of London) during their course of study and representing, supporting and advising students.

Advice and Support

The Advice Service, now in its seventh year, provides an impartial, confidential advice service to SOAS students and recent graduates. We are currently midway through the advice service circle, which runs for the full calendar year rather than the academic year to consider the late submission period and the subsequent window for appeals. There were 159 new cases signed up to the service during the 24/25 academic year. Of these new cases, 114 were regarding Academic Appeals and Mitigating Circumstances, and 24 cases regarding a student's academic journey itself. This has been a pleasant drop in cases from the 23/24 year, with first person experience regarding the cultural shift in students coming to ask questions pre-emptively, negating the need to escalate an enquiry into a fully-fledged case. There were 26 cases carried over from the previous academic year, highlighting the complex nature of the situations and their longevity.

The Advice Service has been consistently working with and referring students to Student Advice and Wellbeing team, the Student Experience, Engagement and Retention team, and the individual College hubs and respective SASO's.

Enough is Enough

We delivered the eighth year of our Enough is Enough programme, which has been led by a part time staff member, wholly in charge of the programme. In 24/25 the project has been responsible for:

In 2024/25 the project delivered 86 in-person peer led workshops, with 1735 students attending. Out of the cohort of first year students, 55% of them were in attendance. These workshops are one of the largest undertakings of the welcome and induction programme delivered by either the university or the Union. This year, the decision was made to not renew partnerships with external third parties for accreditation and instead focus on working with the university on campaigns and projects. This led to being invited to sit in the Women's safety group, help support the campus safety team with their monthly pop ups, initiate campaigns around consent during SGBV awareness month, and by hosting survivor support groups for students.

The Union has also been preparing for the launch of the E6 conditions of registration from the OfS, ensuring we are compliant.

Democracy

Due to feedback provided in the May AGM, the meeting for 24/25 was postponed to the first term of 25/26. This was due to students feeling like the end of the term wasn't the most effective time to meet due to student engagement faltering by the summer break.

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E-Sign ID: 488931c5-8475-4de9-bc5d-98cf752a4540

SCHOOL OF ORIENTAL AND AFRICAN STUDIES STUDENTS' UNION

Report of the Trustees for the Year Ended 31 July 2025

A decision was made at the start of the 2025 calendar year, to reduce the sabbatical officers from 4 down to 3. This decision was made to more accurately reflect the remits of work conducted, and to reallocate that money directly to student groups. A democratic town hall was hosted for student societies and with their overwhelming support, a secondary all student consultation was held. The feedback across the board was in support and as such the new officer titles are as follows:

Co-President Democracy and Education, Co-President Activities and Campaigns &, Co-President Welfare and Liberation.

The Spring Elections, in which the Sabbatical Officers (Co-Presidents) were elected for the 25/26 year, saw a turnout of 493 students, or 7.4% of the eligible student body. This was a 18.5% decrease from 2024, around 10% less than the national average. There were 5 candidates across the 3 posts, with one remit being uncontested. The unfortunate reduction in numbers can be attributed to a few factors, including the condensed voting window and the student 'boycott' campaign which saw a large proportion of students refusing to engage with the Institution. As a result, the Students' Union were inadvertently affected by this action. Work was done over the summer to re-introduce the Students' Union with there being a rise in positive sentiment towards us.

Representation

The Students' Union continued to deliver the Rep Network scheme in partnership with the University with 134 representatives (82 programme-level; 47 department-level and 5 college-level). Of these 70 were UG reps, 55 PGT and the rest were research students. In 2024-25, the paid College Rep role continued, providing support and enhancing representation across all levels and colleges while ensuring there were appropriate channels to escalate feedback.

The College Reps met regularly with their Heads of College, further embedding the student voice in the college structure. College Reps led a workshop giving their feedback on the year as part of the school's Learning and Teaching Conference at the end of the year.

In feedback, reps were positive about their experience in the role, working as a team with other reps and being taken seriously by their departments. Students feel a benefit from getting to see how the school makes decisions on their education; and being able to be a voice.

In their end of the year reports reps said that the most difficult issues to resolve were around university admin and methods of teaching/grading, and some were concerns that some reps would take on a lot more than others gathering feedback, engaging with students and attending meetings. We asked reps what the best things being worked on in their cohort were. Answers included reducing class sizes; strengthening the relationship between senior department staff and reps through the student-staff meetings; students understanding of "where the money goes"; and organising department socials and other means of increasing student engagement and interaction. Also the use of portfolios in tutorials to encourage attendance at the same time as building something tangible that builds towards final grade; and the idea that lecturers could pop into tutorials occasionally to ensure teaching is appropriate.

Following a challenging start to the year the National Student Survey in 2025 showed improvement on the benchmark question "How well does the students' union (association or guild) represent students' academic interest?", with 64.1% of students responding favourably to the question (a 3.3% increase).

Community Building

2024/25 began with Freshers events platforming student-led activity, sports and campaigns. This continues to play a significant role in community building through. Student engagement in societies and engagement with other student groups at the start of the academic year.

Freshers Fayre was held on Friday the 27th September 11am - 4pm. 105 SOAS SU clubs and societies registered for tables; we also had 10 tables for University of London, local GP and SOAS University services including the UofL Chamber Choir and Boat Club, SOAS Advice and Wellbeing, the campus safety team, and Gower Medical Practice. We had permission to use the precinct and Woburn Square; however heavy rain meant the whole fayre had to be held inside. The whole ground floor of the front of the main building was utilised: the DLT, G03, the learning lounge, JCR and reception area and the SU bar. The attendance was very strong (in the thousands), so staff had to be positioned at all entrances to direct students and avoid overcrowding.

Societies and Sports Teams

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E-Sign ID: 488931c5-8475-4de9-bc5d-98cf752a4540

SCHOOL OF ORIENTAL AND AFRICAN STUDIES STUDENTS' UNION

Report of the Trustees for the Year Ended 31 July 2025

In 2024-25 we had circa 160 registered societies and clubs. They organised a wide range of events including musical events, talks, film screening and socials. We have supported activity for students at all levels of study; from foundation year to postgraduate researchers.

Societies made in the region of 625 requests for school rooms through the SU booking system. This does not include the booking of SU spaces which were regularly booked throughout the year for regular activity, dance practice, support groups, meetings and one-off events.

In 2024-25 students took part in organised regional competitions across 10 disciplines: Badminton, Basketball, Cricket, Football, Netball, Rugby, Volleyball, Boxing, Taekwondo and swimming. Teams saw some success on the regional and national stage. The Taekwondo society was in its second year and medalled in both regional championships and at nationals. When students come forward with a experience and a passion for sport we look for opportunities for participation. In 2024-25 we entered an individual student who had a background in swimming into the BUCS championships. They took part in a few races including the 100m and 200m freestyle and medley.

FINANCIAL REVIEW

Income & Expenditure Account

SOAS SU's gross income from all sources from August 2024 to July 2025 amounted to £1,264,720 (2024: £1,244,886).

• Total expenditure was £1,307,738 (2024: £1,417,898), which meant a net loss of £43,018 for the year (2024: £173,012).

• The Union had a deficit in funds of £171,187 (2024: £128,169), carried forward at the end of the year.

• The Union had fixed asset funds of £2,654 (2024: £3,726) in July 2025, which represents the net book value of the assets. The spaces, equipment and campus services that the Union utilises are all owned by SOAS, therefore are not counted among the Union's assets.

SOAS Grants

SOAS SU has continued to benefit from the recognition and support of the University, who are our principal funders, and this year the Block Grant was £676,569 in total (2024: £730,481). This money primarily supports our day-to-day charitable activities, salaries of the sabbatical officers and core staff, as well as funding for sports, societies, the student representation system, Freshers and Welcome Week, campaigns and welfare support, liberation history months and other membership services.

Union Generated Income

Commercial 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 the coffee pod located in Senate House. In addition, merchandise was occasionally sold at a pop-up stall on campus and was available in the SU online shop. We run these student-facing commercial services with a low margin as a service to students, which provides safe social space within the University.

Reserves

Financial losses during the Covid pandemic period meant that the SU had to use up reserves set aside in previous years, in order not to enter into loan arrangements or risk insolvency. The Union is in the process of revising its Reserves policy and will aim to build up its financial reserves once trading activities have risen to levels approaching pre-pandemic years. Until such time, the prime objective is to halt annual losses and reach a 'break even' point in financial terms for the year.

STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document

The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity.

Charity constitution

SOAS Students' Union (SU) is a Registered Charity, Charity Number 1150717, and was registered on the 06/02/2013. SOAS SU is constituted under the Education Act 1994 as a charity with internal regulations and a Constitution approved by the Governing Body of the SOAS (the University) and the Charities Commission. SOAS SU's aims and objectives, as laid out in its constitution, are to provide representation and support for the students' of the University, and are further supplemented by the objective of helping members to develop their own charitable activities with active participation in civil society.

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E-Sign ID: 488931c5-8475-4de9-bc5d-98cf752a4540

SCHOOL OF ORIENTAL AND AFRICAN STUDIES STUDENTS' UNION

Report of the Trustees for the Year Ended 31 July 2025

STRUCTURE, GOVERNANCE AND MANAGEMENT

Trustees

The Trustee Board is comprised of three Sabbatical Trustees, four Student Trustees (including one reserved place for the RSA), and Four External Trustees, appointed for their knowledge, expertise and experience. This has brought SOAS SU in line with sector best practice.

The three Sabbatical Trustees are elected annually by a cross-campus secret ballot of the membership. These posts are full-time and remunerated, each post is elected for a one-year term and may serve no more than two terms, either consecutive or non-consecutive. The Sabbatical Trustees are joined by up to four Student Trustees and Four External Trustees, who are appointed by the Board for their knowledge and skills. Student Trustees must be members of the Union and cannot also hold elected office within the Union, they may serve for up to four years. External Trustees must be external to the Union and cannot be students, their term of office shall ordinarily be four years which may be renewed up to a maximum of eight years.

The Trustees meet at least four times a year to oversee the Union finances, strategic plan, operating plan and risk register. The Trustees report to the membership via the SOAS General Meeting, which can question decisions made by the Trustees. The Board of Trustees has the following established sub-committees, Governance, Finance and Risk, Commercial Services, Appointments, and People and Talent.

The Trustee Board delegate the day-to-day running of the Charity to the Chief Executive.

Relationship with SOAS

The relationship between the University and SOAS SU is established in the Standing Orders of the University and detailed in the SOAS SU constitution approved by both organisations. SOAS SU receives a Block Grant from the University, agreed annually and occupies part of the SOAS buildings. This non-monetary support is intrinsic to the relationship between the University and SOAS SU. In addition to the block grant the School also provides SOAS Students' Union with utilities, office space, IT and administrative support.

Although SOAS SU continues to generate supplementary funding from various mutual trading activities, it will always be dependent on the University's support. There is no reason to believe that this or equivalent support from the University will not continue for the foreseeable future, as the Education Act 1994 imposes a duty on the University to ensure the financial viability of its student representative body.

Risk management

The responsibility for Risk Management sits with the Trustees who have tasked the Chief Executive to prepare and update a risk register for them. Scrutiny of the risk register is a standing item on the Trustee meeting agenda, and through it the Trustees consider the major business, strategic, reputational and operational risks faced by SOAS SU. Where appropriate, systems or procedures have been established to mitigate the risks the Union faces. Budgetary and internal control risks were minimised by the implementation of procedures for authorisation of all transactions and projects. Procedures are in place to ensure compliance with health and safety of staff, volunteers and participants on all activities organised by the Union. These procedures are periodically reviewed to ensure that they continue to meet the needs of the Union.

Reportable Issues 2024-25

Although the circumstances of this year have been challenging, there have been no reportable serious incidents.

REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number

1150717

Principal address

Ground Floor, Main SOAS Building Thornhaugh Square Russell Square London WC1H 0XG

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E-Sign ID: 488931c5-8475-4de9-bc5d-98cf752a4540

SCHOOL OF ORIENTAL AND AFRICAN STUDIES STUDENTS' UNION

Report of the Trustees for the Year Ended 31 July 2025

Trustees

Elected by SOAS Student Body to hold office from:

1st Aug 2024-31st July 2025 1st Aug 2023-31st July 2024
Full-time (Sabbatical) Officers
Co-President Democracy & Education Reem Walid
Co-President Welfare & Campaigns Sushant Singh
Safia Shaikh (Resigned 20th
Co-President Activities & Events January 2026) Maryam Choudhary
Hamayal Zaib (Resigned 30th June
Co-President Equality & Liberation 2025) Jamal Akram

Trustees

Sir Martin Best Harris (Appointed 20th February 2024) Elizabeth Wright (Appointed 20th February 2024) Aysh Ahmed Chaudhry (Appointed 9th February 2024) Declan Prout (Resigned 30th June 2025) James Graham Bremner (Appointed 21st June 2024) Shahzaib Ahmed (Appointed 1st August 2024, Resigned 30th June 2025) Sara Huda (Appointed 1st August 2024, Resigned 30th June 2025) Eymaan Zubair (Appointed 1st August 2024, Resigned 31st July 2025) Samuel Hardy (Appointed 1 July 2026) Zaid Altikriti (Appointed 1 July 2026) Kathryn Christopher (Appointed 8 October 2025, Resigned 28 April 2026) Ashoka Phillips (Appointed 8 October 2025) Prajwal Trivedi (Appointed 8 October 2025)

Senior Management

SOAS SU employs a Chief Executive to work closely with the trustees and Officers to ensure effective management of the charity as head of a team of staff.

Auditors

Knox Cropper LLP Chartered Accountants and Statutory Auditors 153 -155 London Road Hemel Hempstead Hertfordshire HP3 9SQ

Bankers

Nat West Bank Tavistock House Tavistock Square London, WC1H 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).

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SCHOOL OF ORIENTAL AND AFRICAN STUDIES STUDENTS' UNION

Report of the Trustees for the Year Ended 31 July 2025

STATEMENT OF TRUSTEES' RESPONSIBILITIES - continued

Charity law requires the trustees to prepare financial statements for each financial year. Under that law, the trustees have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law).

Under charity law the trustees must not approve the financial statements unless they are satisfied that they 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

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 and The Charity (Accounts and Reports) Regulations 2008. 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.

28/05/2026

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

S Hardy

........................................................................ S Hardy - Trustee

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Report of the Independent Auditors to the Trustees of School of Oriental and African Studies Students' Union

Opinion

We have audited the financial statements of School of Oriental and African Studies Students' Union (the 'charity') for the year ended 31 July 2025 which comprise the Statement of Financial Activities, the Balance Sheet, the Cash Flow Statement and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

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

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

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

Other information

The trustees are responsible for the other information. The other information comprises the information included in the Annual Report, other than the financial statements and our Report of the Independent Auditors thereon.

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

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

Matters on which we are required to report by exception

We have nothing to report in respect of the following matters where the Charities (Accounts and Reports) Regulations 2008 requires us to report to you if, in our opinion:

Responsibilities of trustees

As explained more fully 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 for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the charity's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do so.

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Report of the Independent Auditors to the Trustees of School of Oriental and African Studies Students' Union

Our responsibilities for the audit of the financial statements

We have been appointed as auditors under Section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder.

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Independent Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

• The Charitable Company is required to comply with both company law and charity law and, based on our knowledge of its activities, we identified that the legal requirement to accurately account for restricted funds was of key significance.

• We gained an understanding of how the charitable company complied with its legal and regulatory framework, including the requirement to properly account for restricted funds, through discussions with management and a review of the documented policies, procedures and controls.

• The audit team, which is experienced in the audit of charities, considered the charitable company's susceptibility to material misstatement and how fraud may occur. Our considerations included the risk of management override.

• Our approach was to check that all restricted income was properly identified and separately accounted for and to ensure that only valid and appropriate expenditure was charged to restricted funds. This included reviewing journal adjustments and unusual transactions.

There are inherent limitations in the audit procedures described above and, the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we would become aware of it. The risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations, or through collusion.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Independent Auditors.

Use of our report

This report is made solely to the charity's trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charity's trustees those matters we are required to state to them in an auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity's trustees as a body, for our audit work, for this report, or for the opinions we have formed.

Knox Cropper LLP Chartered Accountants and Statutory Auditors 153 -155 London Road Hemel Hempstead Hertfordshire HP3 9SQ

Date: .............................................

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SCHOOL OF ORIENTAL AND AFRICAN STUDIES STUDENTS' UNION

Statement of Financial Activities for the Year Ended 31 July 2025

Notes
INCOME AND ENDOWMENTS FROM
Donations and legacies
2
Charitable activities
5
Union bar
Union shop
Coffee Pod
Clubs and societies
Events
Other trading activities
3
Investment income
4
Other income
Total
EXPENDITURE ON
Charitable activities
6
Welfare and campaigns
Union bar
Union shop
Coffee Pod
Subscriptions and affiliation fees
Clubs and societies
Union entertainment
SOAS Radio
Events
Scholarship
Enough is Enough
Learning & Teaching
Total
NET INCOME/(EXPENDITURE)
Transfers between funds
17
Net movement in funds
RECONCILIATION OF FUNDS
Total funds brought forward
TOTAL FUNDS CARRIED FORWARD		 2025
Unrestricted
Restricted
Total
funds
funds
funds
£
£
£
676,569
-
676,569
137,027
-
137,027
210,096
-
210,096
82,819
-
82,819
-
81,495
81,495
4,300
-
4,300
5,919
-
5,919
473
-
473
66,022
-
66,022
1,183,225
81,495
1,264,720
5,305
-
5,305
288,817
-
288,817
386,033
-
386,033
148,010
-
148,010
108,273
-
108,273
86,963
164,953
251,916
90,813
-
90,813
5,359
-
5,359
8,958
-
8,958
-
2,500
2,500
7,191
-
7,191
4,563
-
4,563
1,140,285
167,453
1,307,738
42,940
(85,958)
(43,018)
(80,510)
80,510
-
(37,570)
(5,448)
(43,018)
(148,672)
20,503
(128,169)
(186,242)
15,055
(171,187)		 2024
Total
funds
£
730,481
154,733
158,692
79,446
87,343
2,570
6,849
1,014
23,758
1,244,886
6,211
297,652
432,833
145,663
94,704
245,086
81,705
51,492
19,382
1,050
31,064
11,056
1,417,898
(173,012)
-
(173,012)
44,843
(128,169)

The notes form part of these financial statements

Page 11

E-Sign ID: 488931c5-8475-4de9-bc5d-98cf752a4540

SCHOOL OF ORIENTAL AND AFRICAN STUDIES STUDENTS' UNION

Balance Sheet 31 July 2025

Unrestricted
Restricted
funds
funds
Notes
£
£
FIXED ASSETS
Tangible assets
11
2,654
-
Social investments
12
3,000
-
5,654
-
CURRENT ASSETS
Stocks
13
22,318
-
Debtors
14
17,113
-
Cash at bank
24,100
15,055
63,531
15,055
CREDITORS
Amounts falling due within one year
15
(97,262)
-
NET CURRENT ASSETS/(LIABILITIES)
(33,731)
15,055
TOTAL ASSETS LESS CURRENT LIABILITIES
(28,077)
15,055
CREDITORS
Amounts falling due after more than one year
16
(158,165)
-
NET ASSETS/(LIABILITIES)
(186,242)
15,055
FUNDS
17
Unrestricted funds
Restricted funds
TOTAL FUNDS		 2025
Total
funds
£
2,654
3,000
5,654
22,318
17,113
39,155
78,586
(97,262)
(18,676)
(13,022)
(158,165)
(171,187)
(186,242)
15,055
(171,187)		 2024
Total
funds
£
3,726
3,250
6,976
12,468
42,593
9,192
64,253
(199,398)
(135,145)
(128,169)
-
(128,169)
(148,672)
20,503
(128,169)

The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by: 28/05/2026

S Hardy

............................................. S Hardy - Trustee

The notes form part of these financial statements

Page 12

E-Sign ID: 488931c5-8475-4de9-bc5d-98cf752a4540

SCHOOL OF ORIENTAL AND AFRICAN STUDIES STUDENTS' UNION

Cash Flow Statement for the Year Ended 31 July 2025

Notes
Cash flows from operating activities
Cash generated from operations
1
Net cash provided by/(used in) operating activities
Cash flows from investing activities
Purchase of tangible fixed assets
Sale of social investments
Interest received
Net cash provided by/(used in) investing activities
Change in cash and cash equivalents in
the reporting period
Cash and cash equivalents at the
beginning of the reporting period
Cash and cash equivalents at the end of
the reporting period		 2025
£
29,240
29,240
-
250
473
723
29,963
9,192
39,155		 2024
£
(47,322)
(47,322)
(3,945)
250
1,014
(2,681)
(50,003)
59,195
9,192

The notes form part of these financial statements

Page 13

E-Sign ID: 488931c5-8475-4de9-bc5d-98cf752a4540

SCHOOL OF ORIENTAL AND AFRICAN STUDIES STUDENTS' UNION

Notes to the Cash Flow Statement for the Year Ended 31 July 2025

1. RECONCILIATION OF NET EXPENDITURE TO NET CASH FLOW FROM OPERATING ACTIVITIES RECONCILIATION OF NET EXPENDITURE TO NET CASH FLOW FROM OPERATING ACTIVITIES RECONCILIATION OF NET EXPENDITURE TO NET CASH FLOW FROM OPERATING ACTIVITIES RECONCILIATION OF NET EXPENDITURE TO NET CASH FLOW FROM OPERATING ACTIVITIES
2025 2024
£ £
Net expenditure for the reporting period (as per the Statement of
Financial Activities) (43,018) (173,012)
Adjustments for:
Depreciation charges 1,072 1,914
Loss on disposal of fixed assets - 50,145
Interest received (473) (1,014)
(Increase)/decrease in stocks (9,850) 5,539
Decrease in debtors 25,480 25,643
Increase in creditors 56,029 43,463
Net cash provided by/(used in) operations 29,240 (47,322)
2. ANALYSIS OF CHANGES IN NET FUNDS
At 1.8.24 Cash flow At 31.7.25
£ £ £
Net cash
Cash at bank 9,192 29,963 39,155
9,192 29,963 39,155
Total 9,192 29,963 39,155

The notes form part of these financial statements

Page 14

E-Sign ID: 488931c5-8475-4de9-bc5d-98cf752a4540

SCHOOL OF ORIENTAL AND AFRICAN STUDIES STUDENTS' UNION

Notes to the Financial Statements for the Year Ended 31 July 2025

1. ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention.

Income

All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.

Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

Tangible fixed assets

Are recorded at cost. Items with a value below £1,000 are not capitalised. Depreciation is provided for at the following rates in order to write off each asset over its estimated useful life.

Improvements to property - 10% on cost Fixtures & fittings - 20% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation

The charity is exempt from tax on its charitable activities.

Fund accounting

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Designated funds are set aside by the trustees out of unrestricted general funds for specific future purposes or projects

Restricted funds can only be used for particular restricted purposes. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Restricted funds comprise of the sports and societies fund, which represents funds raised by the individual clubs and societies for their own use.

Retirement benefits

The charity operates a defined contribution pension scheme. Contributions payable to the charity's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.

Going concern

After making appropriate enquiries, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements.

Page 15

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E-Sign ID: 488931c5-8475-4de9-bc5d-98cf752a4540

SCHOOL OF ORIENTAL AND AFRICAN STUDIES STUDENTS' UNION

Notes to the Financial Statements - continued for the Year Ended 31 July 2025

2.
DONATIONS AND LEGACIES
School grant
3.
OTHER TRADING ACTIVITIES
Other trading activities
4.
INVESTMENT INCOME
Deposit account interest
Social investment interest
5.
INCOME FROM CHARITABLE ACTIVITIES
Activity
Bar sales
Union bar
Supplier target discount
Union bar
Snack shop sales
Union shop
Coffee Pod Sales
Coffee Pod
SOAS Detainee Support
Group
Clubs and societies
Clubs and Societies income
Clubs and societies
Freshers Fayre
Events
6.
CHARITABLE ACTIVITIES COSTS
Welfare and campaigns
Union bar
Union shop
Coffee Pod
Subscriptions and affiliation fees
Clubs and societies
Union entertainment
SOAS Radio
Events
Scholarship
Enough is Enough
Learning & Teaching		 Direct
Costs
£
5,305
197,086
156,836
90,038
21,310
164,953
3,850
977
8,958
2,500
7,191
4,563
663,567		 2025
£
676,569
2025
£
5,919
2025
£
310
163
473
2025
£
135,095
1,932
210,096
82,819
25,237
56,258
4,300
515,737
Support
costs (see
note 7)
£
-
91,731
229,197
57,972
86,963
86,963
86,963
4,382
-
-
-
-
644,171		 2024
£
730,481
2024
£
6,849
2024
£
839
175
1,014
2024
£
148,430
6,303
158,692
79,446
34,940
52,403
2,570
482,784
Totals
£
5,305
288,817
386,033
148,010
108,273
251,916
90,813
5,359
8,958
2,500
7,191
4,563
1,307,738

Page 16

continued...

E-Sign ID: 488931c5-8475-4de9-bc5d-98cf752a4540

SCHOOL OF ORIENTAL AND AFRICAN STUDIES STUDENTS' UNION

Notes to the Financial Statements - continued for the Year Ended 31 July 2025

7. SUPPORT COSTS

Management
£
Union bar
80,798
Union shop
201,875
Coffee Pod
51,061
Subscriptions and affiliation fees
76,596
Clubs and societies
76,596
Union entertainment
76,596
SOAS Radio
3,859
567,381
Activity
Basis of allocation
Management
Based on usage
Finance
Based on usage
Governance costs
Based on usage		 Governance
Finance
costs
£
£
1,027
9,906
2,566
24,756
649
6,262
974
9,393
974
9,393
974
9,393
49
474
7,213
69,577		 Totals
£
91,731
229,197
57,972
86,963
86,963
86,963
4,382
644,171

Support costs, included in the above, are as follows:

Trustees' remuneration etc
Salaries
Social security
Pensions
Insurance
Website and social media
Printing and stationery
Advertising
Other expenses
Travelling
Staff training & other
expense
Computer software &
consumable
Professional fees
Insurance
Bad debt write off
Irrecoverable VAT
Depreciation - tangible
assets
Loss on sale of tangible
fixed assets
Bank charges
Auditors' remuneration
Other governance expenses
Democracy & election
expenses
Legal and professional fees		 Union bar
£
15,232
45,815
4,538
6,022
38
1,098
40
177
390
97
963
568
3,570
1,230
-
868
152
-
1,027
1,270
409
-
8,227
91,731		 Union
shop
£
38,061
114,471
11,338
15,045
96
2,742
99
442
977
243
2,405
1,416
8,917
3,071
3
2,167
382
-
2,566
3,174
1,023
-
20,559
229,197		 Subscriptions
and
Coffee
affiliation
Pod
fees
£
£
9,627
14,442
28,956
43,433
2,868
4,302
3,806
5,708
24
37
693
1,040
25
37
112
168
247
371
61
93
608
913
358
537
2,255
3,383
777
1,165
-
-
548
822
96
145
-
-
649
974
803
1,204
259
388
-
-
5,200
7,801
57,972
86,963

Page 17

continued...

E-Sign ID: 488931c5-8475-4de9-bc5d-98cf752a4540

SCHOOL OF ORIENTAL AND AFRICAN STUDIES STUDENTS' UNION

Notes to the Financial Statements - continued for the Year Ended 31 July 2025

7. SUPPORT COSTS - continued

SUPPORT COSTS - continued
Trustees' remuneration etc
Salaries
Social security
Pensions
Insurance
Website and social media
Printing and stationery
Advertising
Other expenses
Travelling
Staff training & other
expense
Computer software &
consumable
Professional fees
Insurance
Bad debt write off
Irrecoverable VAT
Depreciation - tangible
assets
Loss on sale of tangible
fixed assets
Bank charges
Auditors' remuneration
Other governance expenses
Democracy & election
expenses
Legal and professional fees		 2025
Clubs and
Union
SOAS
Total
societies
entertainment
Radio
activities
£
£
£
£
14,442
14,442
728
106,974
43,433
43,433
2,188
321,729
4,302
4,302
217
31,867
5,708
5,708
288
42,285
37
37
2
271
1,040
1,040
52
7,705
37
37
2
277
168
168
8
1,243
371
371
19
2,746
93
93
5
685
913
913
46
6,761
537
537
27
3,980
3,383
3,383
170
25,061
1,165
1,165
59
8,632
-
-
-
3
822
822
41
6,090
145
145
7
1,072
-
-
-
-
974
974
49
7,213
1,204
1,204
61
8,920
388
388
20
2,875
-
-
-
-
7,801
7,801
393
57,782
86,963
86,963
4,382
644,171		 2024
Total
activities
£
138,267
250,915
23,908
41,017
-
7,001
833
-
438
2,612
10,095
5,222
22,042
8,807
-
7,564
1,914
50,145
10,604
7,740
1,412
530
1,447
592,513

8. TRUSTEES' REMUNERATION AND BENEFITS

None of the trustees were remunerated or paid expenses in respect of the performance of their duties as trustees. Trustees were remunerated in respect of their roles as sabbatical officers. See note 18.

Trustees' expenses

No trustees were paid expenses in respect of the performance of their duties as trustees.

9. STAFF COSTS

Wages and salaries
Social security costs
Other pension costs		 2025
£
579,907
57,612
68,345
705,864		 2024
£
693,338
44,320
63,232
800,890

Page 18

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E-Sign ID: 488931c5-8475-4de9-bc5d-98cf752a4540

SCHOOL OF ORIENTAL AND AFRICAN STUDIES STUDENTS' UNION

Notes to the Financial Statements - continued for the Year Ended 31 July 2025

9. STAFF COSTS - continued

The average monthly number of employees during the year was as follows:

Full time management staff
Full time sabbatical officers
Part time staff		 2025
6
2
30
38		 2024
7
4
31
42

No employees received emoluments in excess of £60,000.

10.

COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES

INCOME AND ENDOWMENTS FROM
Donations and legacies
Charitable activities
Union bar
Union shop
Coffee Pod
Clubs and societies
Events
Other trading activities
Investment income
Other income
Total
EXPENDITURE ON
Charitable activities
Welfare and campaigns
Union bar
Union shop
Coffee Pod
Subscriptions and affiliation fees
Clubs and societies
Union entertainment
SOAS Radio
Events
Scholarship
Enough is Enough
Learning & Teaching
Total
NET INCOME/(EXPENDITURE)
Transfers between funds
Net movement in funds
RECONCILIATION OF FUNDS
Total funds brought forward		 Unrestricted
funds
£
730,481
154,733
158,692
79,446
-
2,570
6,098
1,014
23,758
1,156,792
6,211
297,652
432,833
145,663
94,704
79,992
81,705
51,492
19,382
-
31,064
11,056
1,251,754
(94,962)
(82,839)
(177,801)
29,129		 Restricted
funds
£
-
-
-
-
87,343
-
751
-
-
88,094
-
-
-
-
-
165,094
-
-
-
1,050
-
-
166,144
(78,050)
82,839
4,789
15,714		 Total
funds
£
730,481
154,733
158,692
79,446
87,343
2,570
6,849
1,014
23,758
1,244,886
6,211
297,652
432,833
145,663
94,704
245,086
81,705
51,492
19,382
1,050
31,064
11,056
1,417,898
(173,012)
-
(173,012)
44,843

Page 19

continued...

E-Sign ID: 488931c5-8475-4de9-bc5d-98cf752a4540

SCHOOL OF ORIENTAL AND AFRICAN STUDIES STUDENTS' UNION

Notes to the Financial Statements - continued for the Year Ended 31 July 2025

10.
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued
Unrestricted
funds
£
TOTAL FUNDS CARRIED FORWARD
(148,672)
11.
TANGIBLE FIXED ASSETS
Plant and
machinery
£
COST
At 1 August 2024 and 31 July 2025
3,945
DEPRECIATION
At 1 August 2024
789
Charge for year
789
At 31 July 2025
1,578
NET BOOK VALUE
At 31 July 2025
2,367
At 31 July 2024
3,156
12.
SOCIAL INVESTMENTS
MARKET VALUE
At 1 August 2024
Repayments in year
At 31 July 2025
NET BOOK VALUE
At 31 July 2025
At 31 July 2024
13.
STOCKS
Stocks		 10.
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued
Unrestricted
funds
£
TOTAL FUNDS CARRIED FORWARD
(148,672)
11.
TANGIBLE FIXED ASSETS
Plant and
machinery
£
COST
At 1 August 2024 and 31 July 2025
3,945
DEPRECIATION
At 1 August 2024
789
Charge for year
789
At 31 July 2025
1,578
NET BOOK VALUE
At 31 July 2025
2,367
At 31 July 2024
3,156
12.
SOCIAL INVESTMENTS
MARKET VALUE
At 1 August 2024
Repayments in year
At 31 July 2025
NET BOOK VALUE
At 31 July 2025
At 31 July 2024
13.
STOCKS
Stocks		 Restricted
funds
£
20,503
Fixtures
and
fittings
£
74,717
74,147
283
74,430
287
570
2025
£
22,318		 Restricted
funds
£
20,503
Fixtures
and
fittings
£
74,717
74,147
283
74,430
287
570
2025
£
22,318		 Total
funds
£
(128,169)
Totals
£
78,662
74,936
1,072
76,008
2,654
3,726
Loans
£
3,250
(250)
3,000
3,000
3,250
2024
£
12,468

Page 20

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E-Sign ID: 488931c5-8475-4de9-bc5d-98cf752a4540

SCHOOL OF ORIENTAL AND AFRICAN STUDIES STUDENTS' UNION

Notes to the Financial Statements - continued for the Year Ended 31 July 2025

14. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Trade debtors
Other debtors
Prepayments and accrued income
15.
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Trade creditors
Taxation and social security
Other creditors
16.
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
Trade creditors
17.
MOVEMENT IN FUNDS
Net
movement
At 1.8.24
in funds
£
£
Unrestricted funds
General fund
(152,398)
44,012
Fixed Asset
3,726
(1,072)
(148,672)
42,940
Restricted funds
Clubs and Societies
16,824
(83,458)
Sanctury Scholarship Programme
3,679
(2,500)
20,503
(85,958)
TOTAL FUNDS
(128,169)
(43,018)

Page 21

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E-Sign ID: 488931c5-8475-4de9-bc5d-98cf752a4540

SCHOOL OF ORIENTAL AND AFRICAN STUDIES STUDENTS' UNION

Notes to the Financial Statements - continued for the Year Ended 31 July 2025

17. MOVEMENT IN FUNDS - continued

Net movement in funds, included in the above are as follows:

Unrestricted funds
General fund
Fixed Asset
Restricted funds
Clubs and Societies
Sanctury Scholarship Programme
TOTAL FUNDS		 Incoming
resources
£
1,183,225
-
1,183,225
81,495
-
81,495
1,264,720		 Resources
expended
£
(1,139,213)
(1,072)
(1,140,285)
(164,953)
(2,500)
(167,453)
(1,307,738)		 Movement
in funds
£
44,012
(1,072)
42,940
(83,458)
(2,500)
(85,958)
(43,018)

Comparatives for movement in funds

Net Transfers
movement between At
At 1.8.23 in funds funds 31.7.24
£ £ £ £
Unrestricted funds
General fund (22,711) (42,902) (86,785) (152,398)
Fixed Asset 51,840 (52,060) 3,946 3,726
29,129 (94,962) (82,839) (148,672)
Restricted funds
Transport fund 219 (219) - -
Clubs and Societies 10,766 (76,781) 82,839 16,824
Sanctury Scholarship Programme 4,729 (1,050) - 3,679
15,714 (78,050) 82,839 20,503
TOTAL FUNDS 44,843 (173,012) - (128,169)

Comparative net movement in funds, included in the above are as follows:

Unrestricted funds
General fund
Fixed Asset
Restricted funds
Transport fund
Clubs and Societies
Sanctury Scholarship Programme
TOTAL FUNDS		 Incoming
resources
£
1,156,792
-
1,156,792
-
88,094
-
88,094
1,244,886		 Resources
expended
£
(1,199,694)
(52,060)
(1,251,754)
(219)
(164,875)
(1,050)
(166,144)
(1,417,898)		 Movement
in funds
£
(42,902)
(52,060)
(94,962)
(219)
(76,781)
(1,050)
(78,050)
(173,012)

Page 22

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E-Sign ID: 488931c5-8475-4de9-bc5d-98cf752a4540

SCHOOL OF ORIENTAL AND AFRICAN STUDIES STUDENTS' UNION

Notes to the Financial Statements - continued for the Year Ended 31 July 2025

17. MOVEMENT IN FUNDS - continued

Restricted funds comprise of the following:

• Sports Ground Fund and Transport Fund - funds given as part of the annual grant from SOAS to be spent exclusively on sports teams for booking pitches and venues, buying essential kit and equipment for playing sports, costs for coaching and match officials, fees for memberships and tournaments and transport for games.

• Sanctuary Scholarship Programme Fund - one-off funding for activity associated with the Solidarity with Refugees and Displaced People Society.

18. RELATED PARTY DISCLOSURES

The Union transacts with the University of Oriental & African Studies (SOAS) their relationship is defined in the Report of the Trustees. A grant was received by the Union from SOAS as detailed in the notes to the accounts, Note 2.

The following transactions took place with sabbatical officers in the year ended the 31st July, 2025

Sabbatical Post Salary EmployersPension EmployersNIC Total
R Walid £577 £0 £0 £577
M Choudhary £944 £0 £34 £978
J Akram £1,070 £0 £51 £1,121
S Shaikh £32,794 £764 £3,566 £37,124
H Zaib £31,550 £5,048 £2,289 £38,887
A Gorman £3,715 £0 £408 £4,123
A Clark £3,715 £0 £408 £4,123
Z Altikriti £1,508 £241 £150 £1,899

In 2017 a fixed asset investment loan (note 12) was made to UniSolar Ltd, a Community Benefit Society limited by guarantee. The Union made two loans to UniSolar Ltd, one of £5,000 at 0% for 5 year term and, another for £5,000 at 5% interest for 20 year term.

Page 23

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