Charity Number.. 1157391 THE HARPER ADAMS UNIVERSITY STUDENTS, UNION TRUSTEES, REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025
The Harper Adams University Students, Union Contents Pagg Reference and adminislralive details of the Charity, ((s Trustees and advisers Trustees, report 2-15 Independent auditors, report on the financial slalemenls 16-19 Slalement of financial activities 20 Balance Sheet 21 Slalement of cash flows 22 Notes lo the financial slalements 23-39
The Harper Adams University Students, UnTon Reference and Administrative Details of the Charity, its Trustees and Advisers Year ended 31 July 2025 Trustees D Douglas (Chairl M J Nicklin IDèpuly Chairl H Ashley A Allen T C P Owen - resigned 30 June 2025 M Carlisle- resigned 30 June 2025 T Logan- resigned 31 October 2024 L Outten- appointed 6 September 2024 H Littler- appointed 30 October 2024 E L Spruce- appointed 30 June 2025 M Tennanl- appointed 30 June 2025 J Tapner- appointed 1 July 2025 Charity reglstered Number 1157391 Prlnclpal Office Edgmond Shropshire TF10 8NB Students. Unlon Director Mr Michael Gale Flnanco Offi¢er Sarah-Jane Elherin9lon Independent AudFtors Dean Slalham 29 King Street Newcastle under Lyme Slaffordshire ST51ER Bankers Lloyds Bank 95 High Street Newport Shropshire TF10 7AZ Human ResOUe$ Consultants Human Resources Ltd e-lnnovalion Centre Shifnal Road Telford TF2 9FT
The Harper Adams University Students, Unlon Trustees, Report Year ended 31 July 2025 The Trustees present their annual report together with the audited financial statements of the Charity for the period from 1 August 2024 to 31 July 2025. Structure, governance and management HASU'S purpose is to represent, promote and advance the educational, welfare, sporting, social and euttural interests of all students enrolled across Harper Adams University or those on Harper Adams University accredited courses. HASU represents the interests of Harper Adarlls students, both locally and nationally and exist5 10 encourage and enable the wide participation of all students in that represent81ion. Govgrning document The Charity is a Charitable Incorporated Organisalion as defined by the Companies Act 2006. The Charity is governed by ils Conslilulion, which in 2013 was revised, presentèd to the members for approval and formally presented by the Trustees on behalf of the membership for submission lo the Charities Commission for endorsement. In preparation for lull charitable status in 2013 and in line with anlicipaled CIO legislation, HASU invited the eslablishmenl of a Board ol Trustees in 2010 consisting of three external Trustees and two sabbatical Trustees, that being the democratically elected SU President and Vice President. The Board of Trustees has oversight of the affairs of the Union and may for this purpose exercise all the powèrs of the Union. Organlsatlonal structure HASU is administered by ils Trustee Board of nine members comprising.. Two full lime Sabbatica1 Officers Two Sludenl Trustees Five External Trustees Al 31 July 2025 there We nine members in post. The Board is responsible for the management, administration, governance, and strategy for HASU. The Board operates on democratic principles, working for and with OUF members who are the students of Harper Adams University. The Board is legally responsible for HASU and ensuring HASU complies with relevant laws and legal frameworks. The Board's power is subje¢l lo the decisions or policy made by the members in the Annual General Meeting IAGMI or by Refendum. The Trustees may override the decisions or policy only on the grounds of financial considerations, charity oreducalion law or other legal requirements or the reputation or in the best interests of HASU. The Board of Trusteès lassisled by sub committees where appropriate} has delegated the day lo day running of HASU lo the Students, Union Director. The Union Oireclor is further assisted by the full time staff team. The Board of Trustees mel 4 limes during the year lo receive reports from sub ¢ommillees (where appropriatel, officers and management to review HASU'S performance and adminislralion.
The Harper Adams University Students, Union Trustees, Report Year ended 31 July 2025 Recruitment, appolntment and training of new trustees HASU has a Trustee Appointments Panel as a subcommittee of Trustee Board which considers appropriate persons lo be proposed as Extemal Trustees lo the Trustee Board. The Trustee Board decides on the proposed persons by a majority vole. The HASU Constitution specifies the period of office for all Iruslees. The sabbatical officers are elected by the membership as Truslee5' ex officio. The Sludenl Officer Trustees have a comprehensive training and briefing programme on their responsibilities. Exiemal trustees receive a separate briefing session and information pack. Further guidance as and when required is issued during their lemi. Key Managgment Personnel The Board of Trusloes consider that they, together wrth the Union Director, the Deputy Director (HR & Finance) and the President Ichair of Trusleesl comprise the Key Management Personnel. The Trustees give their lime freely. They are responsible for annually reviewing the pay and remuneration of the Union Director. The Finance Committee, which comprises the Union Director. the Deputy Director and the Deputy Chair of Trustees. review remuneration annually for all other staff, excepting the Union Director. A number of criteria are used when setting pay: The nature of the role and responsibilities Inflation The financial posbtion of the organisalion Sector salaries for comparable posrtions National Minimum and Living Wage rates UCU HE spine single pay spine Members ofthg Union Ordinary members Ordinary membership is open lo all students who do not opt out of membership of HASU under clause 22 Icl of the Education Act 1994 and are enrolled on any course 8t Harper Adams University, and lo Sabbatical Officers of HASU, and where appropriate lo students on Harper Adams University courses at other organisalions. Ordinary Members are entitled lo propose, sland and vole in HASU elections, and participate and vole in all sludenl General Meetings. Associate members Associate Membership is open lo a51 members of Harper Adams University, HASU staff, past students of the University and lo other persons agreed lo by the Executive Committee who shall determine the membership fee. Associate Members may use the seTvice5 of HASU bul shall not vole or sland in HASU elections or meetings. Associate membership may be revoked by the Executive Committee in accordance with relevant HASU disciplinary prccedures.
The Harper Adams Universlty Students, Union Trustees, Report Year ended 31 July 2025 Honorary members HonoTary Membership is awarded lo any persons considered appropriate by Executive Committee, and lo members of Executive Committee on their last day of office unless considered otherwise by Executive Committee. Honorary Members enjoy the rijhls of Associate Members without fee or charge. Honorary membership may be revoked by Executive Committee, HASU operates gn democratic principles, the voice of students is represented through a series of bodies.. Executive Committee All Sludenl Meeting5 Stsnding Committees and other Committees Referenda Exgcutive Committee The Executive Committee comprises the elected Sabbatical Officers, and 3 students recruited via a panel". 2 x Communty Officers 1 x Welfare and Wellbeing Officer The Executive Committee represents the interests of all members and HASU tothe Universi(y and other external bodies. The SU ExecLJlive has the Power lo ratify policy. pass routine re501ulion changes lo bye laws, refer conslilulional amendments or mallers of policy lo the student body in a general referendum, and call All Sludenl Meetings as it considers appropriate. Sabbatlcal Officers The Sabbatical Officers act as trustees of HASU and directors of any company established by HASU, they are responsible for settirig the strategic direction ol HASU and any company established by HASU, as required by the Board of Trustees. Executive Committee Sub Committees The following sub committees report to the Executive.. The Trustees Appointments Pane1 las required} Finance Sub Committee Electlon The 2 sabbatical officers are elected by the ordinary members of HASU by secret ballot. Pollcy Union policies lapse after three years unless renewed by Student Executive. Executive members are notified of policies due lolapse and may speak in favour of renewing the motion. A simple majority vole is needed lo renew it.
The Harper Adams University Students, Union Trustees, Report Year ended 31 July 2025 General Meetin9$ All student General Meetings are open to all ordinary members of HASU to attend and pul forward ideas lo the student body for a vole. At least one. the Union Annual General Meeting, musl be held by the end of each academic year. Rglationship with Harper Adams Universlty and other related partles: Harper Adams University IThe"UnThiersty"I HASU receives a Block Grant from the University as the Education Act 1994 imposes a duly on the University lo ensure the financial viability of Its sludenl represenlalive body. There is no reason to believe that this or equiva5enl support from the University will not continue for the foreseeable future. We at HASU have the University's continuing support which is reflected in the grant received. Importantly, we continue lo benefit from workirig relationships with University staff al all levels. We aspire to make a continued positive contribution lo the lives of our member5 and the campus community. Risk Management Major risks have been reviewed and systems have been established to manage those risks. Since ils inception, the Board of Trustee5 has overseen the introduction of policies and initiatives intended to raise the standards and professionalism, reduced the associatèd risks ol the Union of its slle and present the financial statements and systems to our auditors to bring the SU in line with best practice. This includes, but not limited lo.. Budget setting and Monitoring Procedure for allocation of club funds Tendering and Procurement Grievance Procedure Disciplinary Procedure Equal Opportunities Complaints Procedure Terms and Conditions Events Poli Objectives and activitles a. Pollcles and obJectiV05 The objectives of the Union are lo advance the education of students at the University for the publi¢ benef1t by providing an organisalion lo represent the members., promoting cooperation amongst ils members of social, cultural and sporting activities., maintaining communication with the University., representing ils members and fostering good relations within its membership, external bodies and within the community al large IHASU Conslilulion, Aug 2013}. In setting objectives and planning for aclivilies, the Trustees have given due consideration to general guidance published by the Charity Commission relating lo public benefit, including the guidance'Public benefit.. iunning a charity IPB21'.
The Harper Adams University Students, Union Trustees, Report Year ended 31 July 2025 b. Strategies for achieving oblectlves Amplify Student Voice Build community, inclusion and belonging Ensure organisational sustainability c. Activities undertaken to achleve objectlves HASU always ensurès that il works in partnership with the University and is constantly aware of ils actions within the wider community. Regular communication lakes place with residents within the immediate proximity of tho Edgmond University Campus." d. Maln actlvrtles undertaken to further thg Charity's purposes forthe public benefit When planning the Charity's activrties, the trustees had due regard lo the guidance published by the Charity Commission of public beneff(. In pursuit of (ts aims for the public beneff(, HASU wi11 ensure the diversity of its membership is valued and respected. HASU encourages members with differing backgrounds and interests lo engage in the activities offered by the organisalion by listening lo feedback from sludenlslsludenl Voice Survey and running activities for marginalized groups. The Trustees confirm that they have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing HASU'S aims and objectives and in planning future activities In particular, the trusteès consider how planned activities will contribute lo the aims and objecliv&s they have sel. In pursuit of ils aims for the public benèff(, HASU will ensure the diversity of ils membership is recognised, valued and supported. HASU has established departments and services for the use of ils members lo support ils work with the Universty and other organisations on behalf of students. Achievements and perfomiance a. Maln achlevements ofthe Charity The Trustees consider the performance of the Charity lo be in sine with the charitsble objectives, values and aims. b. Review of activities 24-25 Introduction from the SU President 24-25- Daisy Douglas 2024125 was a successful year in terms of events and officer campaigns, though student engagement remained sluggish, which was strongly fell al our bigger events. Alternative widening participation activities such a5 Movie Night's and Pal and Chal achieved a reasonable turn out. We also worked on updating our Strategic Plan as a core team, Iruslee board and with our students, especially those who work lor us. We had an away-(Say for all our bar staff so they could review and comment on the plan, whist also inlegraling them with the core staff. We took their feedback and updated our Strategic Plan. This will now go to the Vice Chancellor and the University Executive lo ensure il aligns with the University's plan.
The Harper Adams Universlty Students, Union Trustees, Report Year ended 31 July 2025 Other excrting ¢hanges within the Students, Union include our Department Represenlalive pilot program, which w8s a huge success. We are now IoDking to recruit next year's reps, expanding the program from 4 up to 6, with the sUPPOrt from the vice Chancellor and those who have been in the interim Chief Student Officer role. We have also solidified the dates for our Student Experience Group ISEGI for the next academic year and have pul those into the academic Calendar. As part of the interviews for the new Chief Sludenl Officer role, I chaired the Sludenl Panel with a group of engaged students, both undergraduates and poslgraduale, who were there lo gel a feel for the candidates, ensuring the best fil. We were there lo gauge how they inleracled with students, how they saw student experiences and how they will work with the Students, Union. There were some excellent applicants and l am excited to work with the successful candidate. Another innovative change for the coming year was the appointment of 3 part-time student officers lo work alongside our 2 student trustees. There were a number of very capable candidates and we were able lo fill all the positions.. 1 Welfare Officer, 2 Community Officers and 2 student Trustees. We have a strong team and I'm looking fofward lo seein9 what they can all bring lo the SU. Finally, l am delighted lo have been re-elected as the SU President for 2025126 and am eager lo work with the team lo build upon the successes of 2024125. Dalsy Douglas ISU President and Chair of the Trustee Board 2024125 and 20251261
The Harper Adams University Students, Union Trustees, Report Year ended 31 July 2025 Our Vision To èll$uiè¢vÈty Hasper Adams dent feels al I1* ohdh¥¥ a¥L¢)Ut5tsnduLg sludenl experience. Our Stiategic Goals Amplify Student Voice Build Community. Inclusion and Belonging Ensure Oiganisational Sustainability Our Values knbiti olusivé
Tho Harper Adams Unlverslty Students, Union Trustees, Report Year ended 31 July 2025 In 2023-24 the core team added behaviours lo the values.. Ambltlous We work hard to achieve our goals We provide the best experience for our members Quality We show our worth lo stakeholders through everything we do We lake pride in our work Transparent We share progress with our members We are open and honest with our financial performance Inclusive Every sludenl belongs al HASU We represent all our students Agile We are open to change We innovate Based on the strategic aims the following is a snapshot of the work of the organis81ion for 2024-25.. Amplify Studgnt Voice: Changes lo conslilulion.. We were happy that students supported the changes lo the constitution allowing us lo recruit Sludenl Tru51ees, rather than elect and reduce the Part lime Officer IPTOI team from 11 to 3. The new structure also meant that the PTOS were elected, and we are delighted lo already have the three new Officers and Sludenl Trustees in t)osilion already. Elections.. Elections went well with our 2nd highest lurnoul 1432 volersl since we started conduding elections online and an increase from the previous year1371 volersl. The approach for this year was 24 hours to vole so we did il all in one day and set up a visib5e area by the We11y with a branded gazebo, the trailer bar. and a gelato van. We also went over lo the Vel School lo ensure those students voted. 11 was also great lo see that sludanls voted without the incentive as we had around 30 voles overnight. Department Reps.. This has l)een a great year for the pilot project, we received some push back al the start of the academie yèar from some members of the Vice Chancellors Group, but the team push&d on. Our NSS results shows that we made the right decision with moving forward with the pilot. We made excellent progress with the Sludenl Experience Group ISEGI, formally Sludenl Academic Group ISAGI by holding meetings and showing University colleagues the power of these meelin9S. We submitted terms of reference and a plan for where the actions and outcomes will be stored and ourwailing forlhis lo be discussed with our new University contact since the interim Director of Sludenl Experience and Academic Services left. We made the decision lo grow the number ol Department Reps and will either cover the increase within our budgets or the VC has said the Uni will be able lo cover the increase.
The Harper Adams University Students, Unlon Trustees, Report Year ended 31 July 2025 stud8nl Voice Sutveys.. 11 has been a challenging year for the Sludenl Voice Survey, but we remain committed lo the importance of this work and the importance of HASU owning this work Over the summer, the plan is to hold a series ol workshops with key University staff lo resel and realign the reasons behind the survey and get clarity on how il all works while still protecting the indepellden of HASU. The expectation is that for Voice Survey 1 in November, we will be able to focus on the sludenl results rather than debating the survey approach. AGM.. Once again, we had a low lurnoul16 students compared lo 7 and O the years beforel bul the students who attended provided some excellent feedback and Ideas. We are keen lo try a new approach based around the successful elections evenvvoting and mirror something like this for AGM. Speak We8k.' As reported previous, Speak Week was a great success with around 300 students engaging with the activity in the library. This shows that if we get the location and offer right, our students will tum up and engage. Build community. Incluslon. and belonging: Clubs and Societies.. Our Acliv(ties Coordinator and Activities and Marketing Assistant have worked incredibly hard this year to support all sludenl groups. They have established the foundations that were missing from previous years and ni)w hove key processes in place such as.. Risk assessments Budgeting Constitutions. They also moved all elections online to improve transparency and managed lo change the opinion of some students who were against the shift. Basic training has already been delThiered to newly elected leaders wf(h further in-depth training planned for Welcome Week. The team also led on the HASU Awards since Covid, wfth 69 students allending the event which looked and was Incredibly professional. RAG Week Fight 1.. We are delighted wi(h how well this event went and the amount it raised for Charity. We have included il in the calendar for next acadomic year bul have moved the dale based on feedback w((h how busy term three bècame. Varsily.. The 2nd Varsity since before Covid happened on the 26th March al the Royal Agriculture University IRAUI. We are very happy to have won Varsity again and for the event lo go smoothly. For the upcoming academic year, we will be hosting Varsity, which although adds more complexities, il does mean we gel to showcase our event delivery skills. 10
The Harper Adams University Students, Union Trustees, Report Year ended 31 July 2025 Welcom8 Week,. Welcome Week planning is well underway with the deadline of 141h August IA level results dayl for events and activity lo be on our website. Ensure organisatlonal sustainability: Processes.. We introducèd new ways of completing purchase orders IPO'S) and expense forms moving away from paper and ulilising Jolfomi lo create flows as the fomis are aulhori5èd by relevant students and staff. This has improved efficiencies and allows students lo submit forms remotely rather than coming into the Office. Events.. These are still essential lo the sludenl experience and the commerciality of HASU bringing in almost 33k surplus. Our challenges in commercial are that we need lo generate a large surplus lo break even alongside balancing the needs of our members i.e. affordable drink prIS and lickels. We also have lo lind the balance between how much we promote the ¢ommercial side of the Union vs. the wre side of the SU Idèmocracy, campaigns. officers etc.) KPI Dashboard 24.25: r•ytyY10LWI Y1DlTrI • ldI>l4 .31cru • ts2*y0 Ciubllrth- 98% 89% 100% 'h 01 $o¢l•ly•x•csthJthav• ol Ctyui$• Rfrpsthot hav• 752 StUd•rttVolc• Surv•y 1 R•spoDd•nts1874 23-241 The organisalion is incredibly proud of the work achieved during the 2024-2D25 academic year. we are making great progress in a number of areas and expect this lo continue in future years 11
The Harper Adams University Students, Union Trustees, Report Year ended 31 July 2025 Union Objectives and Future Plans for 202512026 Embed the new strategic plan Continue to grow our student voice provision in line with our charitable aims Build a broader range of sludenl aclivrties on campus including Networks lor under represented groups lo ensu a sense of belongillg and inclusion Ensure financial viability of the Students, Union by reviowing expenditure and looking lo diversify our income streams To enhance the Sabbatical Officers and Students. Union awareness within the sludenl body. Develop a culture of high performance and leadership, including training and development for all staff. Develop, diversify and professionalise commercial Students, Union aclivilies. Financial review a. Golng concern After due consideration and financia1 planning for the forthcoming financial year, the Trustees have a reasonable expectation that HASU has adequate resources to continue in operational existence for the foreseeable futufe. For this reason, they continue to adopt the going concern basis in preparing the financial slatemenls. Further d&lai18 regarding the adoption of the going conrn basis can be found in the Accoijnling Policies. b. Reserves policy The Charity Commission defines reserves as "that Part of charbty's income funds which can be made available lo spend for any or all ol the charity's purposes once il has mel its Commitments and covered other planned expenditure. The Trustees are aware of the general duly lo apply charitable funds within a reasonable lime receiving them. Therefore, lo justify the holding of reserves the Charity needs a reserves policy which is based on a realistic assessment of the required reserves. The Board of Trustees has identified that a minimum level of unrestricted funds should be set lo counter balance trading uncertainly and provide a base level for stability. A target level of unre51ricled funds has been sel allow for growth and for HASU lo lake 8dvanlage of strategic opportun(ties for futu growth. The current level of unreslricled funds should be set as follows.. Lower Limit £9LI,000. This amount provides HASU with sufficient funds to cover the redundancy of all staff and settle all oulslanding financial ¢ommilmenl$. Upper Limit £350,000. This will allow Harper Adams Students, Union the develop th$ organisalion through capttal investment, potential new staffing and purchasing of new equipment. The Board of Trustees has approved HASU'S reserves policy and identified the following reasons lo hold reseNes'. To provide financial stability lo enable HASU lo continue lo achieve its objective during challenging trading periods. To allow HASU lo take advantage of strategic development opportunrties and plan for future growth. To enable HASU lo make investment decisions in accordance with the investment policy and enable HASU lo consider opportunistic investments which may not be wilhing the strategic plan. 12
The Harper Adams University Stud8nts' Union Trustees, Report Year ended 31 July 2025 Free reserves al the year-end were £214,51 $12024.. £185,975). The Trustees believe sufficient funds exist lo allow the continued operation of the charity in the event of a significant drop in funding. Trustees review this policy formally on an annual basis. Total funds al year end were £309,19812024'. £282,849). of which £54,000 were reslricled12024.. £52,341) and £255,19812024.' £230,508) were unreslricled. Rgvigw of the current year financlal actlvltles HASU'S gross income from all sources for this period tola11ed £1,499,298 and total expenditure was £1.472,949. A block grant of £215,000 was received from Harper Adams University and the University donated facilities and services wi(h an eslimaled value of £56,200 for the year. Total expenditure was incurred on wid&ranging student benefits that we have provided during the year leaving an agreed surplus of £26,349. Principal risks and uncertainties Factors likely lo affect the future financial performance of the sludenl Union are.. Falling number of sludonls attending the University. Decreased disposable income of students, due lo inflation and economic prvssures. Decreased lime available to students to participate in actwilies. Increased competition in the locality, providing a wider range of activf(ies and social outlets. Flnancial risk management The major slralegic, business and operational risks, lo which the Charity is exposed, as identified by the Trustees are regularfy reviewed and systems or procedures put in pla lo mitigate those risks. The Trustees have previously identified the reliance upon the eommercial operations of HASU, as ils principal source of funding, as a potential risk. The University continues to hold the Premises License and a member of University staff is the DPS (Designated Premises Supervisor). This hos the potential lo impact trading should the interests of the two organisalions conllicl. The expectation that Ihe new Memorandum of Understanding IMOUI with the Universf(y will allow HASU staff to lake on the role of DPS. The Trustees recognise that the grant as a source of funding is directly related lo the Universities ability to recruit new students. Concerns over student numbers fo15owing the Covid 19 pandemic appear lo have been unfounded. The subvenlitsn grant received annually from the University. being a significant source of funding for HASU, also represents a potential risk. The University has fecognised that the increase in National Living and Minimum Wage increases of recent years have had a significant irnpacl on HASU and has undertaken lo provide an additional £35,000, taking the annua1 subvention grant lo £250,000 per annum. This will ensure that the Union remains a going concern. HASU has suffici&nt reserves lo remain within ils ReseNes Policy. HASU Trustees are committed to reviewing the current reserves policy and utilise reserves were appropriate 13
The Harper Adams University Students, Union Trustees, Report Year ended 31 July 2025 Prlnclpal fundlng The Union fund raising is principa11y from large scale events such as Welcome Week and ils number of Balls throughout the year. HASU does not engage in large scale fundraising activities like mass mailings, telephone fundraising or door lo door campaigns. The Charity does not employ a professional fund raiser nor engage the services of any third party organisalions lo help raise funds. To this end, HASU has not considered il necessary or appropriate lo sign up lo any regulatory code of fundraising practi. HASU has a strong ethos of respect for ils memberships ethics and morals and would not countenance any conduct or activities that undermined this. Plans for future periods Gwen the risk represented by such a large proportion ol the organisalion's income coming from the operation of the Venues, HASU has identified new income streams, including the provision of food. The relationship wfih the University strengthens year by year and they continue lo show confidence in the SU as il ovolves. They have demonslraled this by increasing the annual block grant by a further £35,000 10 £250,000 in order to support HASU to further develop ils democratic represenlalional work. Tho Future and Strategic Planning HASU is set lo update ils slralegie plan, selling new KPI'S and adapting lo the changing culture in the University sector and society as a whole, lo ensure organisalion stability and professionalism for the long term. The strategy will continue lo be monitored regularly by the Trustee Board to ensure ils relevance and it will be adapted as the needs of the membership evolve. Statement of Trustees. responsibilities The Trustees are responsible for preparing the Trustees. report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards Iuniled Kingdom Generally Accepted Accounting Praclicel. The law applicable to charities in England & Wales requires the Trustees to prepare financial slalemenls for each financial which give a true 8nd fair view of the slate of affairs of the Charity and of ils incoming resources and application of resources, including ils income and expenditure. foi that period. In preparing these financial slalemenls, the Trustees are required lo.. select suitable accounting policies and then apply them consistently., observe the methods and principles of the Charities SORP IFRS 1021.. makejudgmenls and accounting eslimales that are reasonable and prudent., slate whether applicable UK Accounting Standards IFRS 1021 have been followed, subject lo any material departLJres disclosed and explained in Ihe financial slalements., prepare the financial slalements on the goin9 concern basis unless il is inappropriate lo presume that the Charity will continue in business. The Trustees are responsible lor keeping adequate accounting records that are sufficient lo show and explain the Charity's transactions and disclose with reasonable accuracy al any time the financial position of the Charity and enable them lo ensure that the financial slalemenls Comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the Trust deed. They are also responsible for safeguarding the assets of the Charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. 14
The Harper Adams University Students, Union Trustees, Report Year ended 31 July 2025 Dlsclosure of Infomiation to auditors Each of the persons who are Trustees al the lime when this Trustees, report is approved has confirmed Ihal.. so far as that Trustee is aware, thère is no relevant audit information of which the charity's auditors are unaware, and that Trustee has taken all the steps that ought lo have been taken as a Trustee in order to be aware of any relevant audit information and lo establish that the charity's audi(ors are aware of that information. This Confirmation 15 given and should be interpreted in accordance with the provisions of section 418 of the Companies Act 2006. The Trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company 5 website. Legislation in the United Kingdom govemin9 the preparation and dissemination of financial stslemenls may differ from the legislation in other jurisdictions. Approved by order of the members of the Board ofTrustees and signed on their behalf by.. D Douglas President J Nicklin Deputy Chair of the Board Dale: 02112105 15
The Harper Adams University Students, Union Independent Auditors, Report to the Members of The Harper Adams University Students, Union Year ended 31 July 2025 Opinion We have audited the financial slalemenls of The Harper Adams University Students, Union Ilhe'charily'l for the year ended 31 July 2025 which comprises the Slalemenl of financial activities, the Balance Sheet, the Slalerlleril of cash flows and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland, Iunited Kingdom Generally Accepted Accounting Practi1. The Financial Slalemenls have been prèpared in accordance with Accounting and Reporting by Charrties preparing their accounts in accordance with the Financial Reporting Standards applicable in the UK and Republic of Ireland IFRS 1021 in preference lo the Accounting and Reporting by Charities". Slalemenl of Re¢ommended Practice issued on 1 April 2005 which is referred lo in the exianl regulations bul has been withdrawn. This has been done in order for the accounts lo provide a true and fair view in accordance with the Generalty Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015. In our opinion the financial slalements.. give a true and fair view ol the slate of the Charity's affairs as al 31 July 2025 and of ils inming resources and application of resources for the year then ended., have been properly propared in accordance with United Kingdom Generally Aeeepled Aceounts"ng Practi,. and have been prepared in accordan wrth the requirements of the Charff(.ies Act 2011. Basis for opinion We conducted our audit in accordance with International Standards on Auditing IUKI IISAS IUKII and applicable law. Our responsibilities under those standards are further described in the Auditors, rèsponsibilities for the audit of the finan¢ia1 slalemenls section of our report. We are independent of the charity in accordance with the ethical iequiremenls that are relevant to our audf( of the financial slalemenls in the United Kingdom, including the Financial Reporting Council's Ethical Standard, and we have fU1r1ed our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained s sufficient and appropriate lo provide a basis for our opinion. Concluslons relatlng 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. 8ased on the work we have performed, we have not identified any material uncertainties relating lo events or conditions that, individually or collectively, rnay cast significant doubt on the Charity s ability to continue as a going concern for a period ol at least twelve months from when the financial slalemenls are authorised for issue. Our responsibilities and the responsibilities of the Trustees with respect lo going concern are described in the relevant sections of this report. 16
The Harper Adams University Students, Union Independent Auditors, Report to the Members of The Harper Adams University students, Union Year ended 31 July 2025 other infomiatlon The other information comprises the information included in the annual Report othèr than the financial statements and our Auditors, report Ihereon. The Trustees are responsible for the other information contained within the Annual report. Our opinion on the financial slalemenls does not cover the other information and. except lo the extent otherwise explicitly slated in our report, we do not express any form of assurance conclusion Ihereon. Our responsibilrty is lo read the other information and, in doing so, consider whether the other infomation is materially inconsislenl with the financial stateentS or our knowledge obtained in the course of the 8udil, or otherwise appears lo be materially misslaled. If we identfy such material inconsistencies or apparent material misslalernenls, we are required to determine whether this gives rise lo a material missialement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of Ihis other information, we are required lo report that fact. We have nothing lo report in this regard. Matters on which we are required to report by exception We have nothing lo report in respect of the following mallerswhere the Charities (Accounts and Reports) RegulaliDns 2008 ièquires us lo report to you if. in our opinion.. tho information given in the Trustees. report is inconsistent in any material resped with thè financial stslemenls., or suffieienl accounting records have not been kept., or the financial slalemenls are not in agreement with the accounting records and returns., or we havo not received all the information and explanations we require for our audit. Responsibilitles of trustees As explained more fully in the Trustees, rèsponsibilities statement, the TrLJslees a responsible for the preparation ol the financial slalemenls which give a true and fair view, and for such internal Control as the Trustee5 determine is necessary lo enable the preparation of financial slalemenls that are free from material misstalemenl, whether due to fraud or error. In preparing the financial slatemenls, the Trustees are responsible for assessing the charity's ability to continue as a going concern, disclosing as applicable, matters related lo going concern and using the going concern basis of accounting unless the Trustees either intènd lo IiqLJidale the charity or to cease operations, or have no realistic allernalive bul lo do SO. Auditors, rosponsibilities for the audit of the financlal statements We have been appointed as auditor under section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect Ihereunder. Our objectives are lo obtain reasonable assurance about whether the financial statements as a whole are free from material misslalemenl. whether due lo error or fraud, and to issue an Auditors, Report that include5 our opinion. Reasonable assurance is a high level of assurance, bul is not a guarantee that an audit conducted in accordance with ISAS IUKI will always dèlect a material misslalemenl when it exists. Misslalemenls can arise from fraud or error and are considered material if, individually or in the a9giegale, they could reasonably be expected lo influence the economic decisions of users taken on the basis of these financial slalements. 17
The Harper Adams University Students, Unlon Independent Audltors, Report to the Members of The Harper Adams University Students, Union Year ended 31 July 2025 Irregularities. including fraud, are in$lan¢es of non-compliance with law$ 2nd regulations. We design procedures in line with our responsibilities, outlined above, lo delect material misslalemenls in respect of irregularities, including fraud. The exteril lo which our procedures are capable of detecting irregularities, Including fraud is detailed below.. The engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills lo identify or recognise non-compliance with applicable laws and regulations., We identified the laws and regulations applicable lo the charity through discussions with Iruslees and other management, and from our commercial knowledge and experience of the charity sector., We focused on specific laws and regulations which we considered may have a direct material effect on the financial slalemenls or the operations of the charity, including data proledion, anli-bribery. employment, environmental and health and safety legislation", We assessed the ex1ent of compliance with the laws and regulations identified above through making enquiries of management and inspe¢ling logal correspondence,. and Identified laws and regulations were communicated within the audit team regularly and the team remained alert lo instances of non4compliance throughout the audit. We assessed the susceplibilily ol the Charity's financial slalements lo material misslatemenl, including obtaining an understanding of how fraud rllighl occur, by.. Making enquiries of management as lo where they considered there was susceptibility ID fraud, their knowledge of adual, suspected and alleged fraud., Considering the internal controls in Pla to mitigate risks of fraud and non-compliance with laws and regulations. To address the risk of fraud through management bias and override of controls, we.. Performed analytical procedures to identify any unusual or unexpected relationships., Tested journal entries lo identify unusual Iransaclions., Assessed whether jud9emenls and assumptions made in determining the accounting eslimales identified as critical were indicative of potential bias,. Investigated the rationale behind significant or unusual Iransaclions. In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, bul were not limited lo.. Agreeing financial slalemenl disclosures lo underlying supporting documentation., Reading the minutes of Iruslees meetings., Enquiring of management as lo actual and potential liligalion and claims", Reviewing correspondence with relevant reoulalors and the charitable company's le9al advisors. There are inherent limitations in our audit procedures described above. The MO removed that laws and regulations are from financial transactions, the less likely il is that we would become aware of non- compliance. Auditing stsndards also limrt the audit procedures required lo identify non-cornpliance with laws and regulations lo enquiry of the Iruslees and other management and the inspection of regulatory and legal corresponden, if any. Material misstalemenls that arise due lo fraud can be harder to delect than those that arise from error as they may involve deliberate concealment OT collusion. 18
The Harper Adams University Students. Union Independent Auditors, Report to the Members of The Harper Adams Universlty Students, Union Year ended 31 July 2025 As part of an audit in accordance with ISAS IUKI, we exercise professional judgment and maintsin professional sceplicism throughout the audit. We also.. Identify and assess the risks of material misstatement of the financial slalemenls, whether due lo fraud or error, design and perform aLJdil procedures responsive to those risks. and obtain aud(t evidence that is sufficient and appropriate lo provide a basis for our opinion. The risk of not delecling material rnisslalement resulting from fraud is higherlhan for one resulting from error, as fraud may involve crillusion, forgery, intentional omissions, misrepresentations, or the override of internal control. Obtain an understanding ol internal control relevant lo the audit in order lo design audit procedures that are appropriate in the circumstances, bul not for the purpose of expressing an opinion on the effectiveness of the charitable Company's internal control. Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the Irusleè5. Conclude on the appropriatèness of the Iruslees, use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related lo events or condf(ions that may Cast significant doubl on the eharily's ability to continue as a going concern. If we conclude that a material uncertainly exists, we are required to draw allenlion in our auditor's report to the related disclosuS in the financial slalemenls or, rf such disclosures are inadequate, lo modify Dur opinion. Our conclusions are based on the aildil evidence obtained up to the dale of our auditoff s report. However, future events orcondilions may Cause the charity to cease lo continue as a going concern. Evaluate the overall presentation. structure and conlenl of the financial slalemenls, including the disclosures. and whether the financial slalemenls represent the underlying transactions and events in 8 manner that achieves fair presentation li.e.. gives a true and lair view). Wo cornmunicale with those charged with governance regarding, among other matters, the planned scope and liming of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audrt. Usg of our report This report is made solely lo 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 th81 we might slate lo the Charity's Trustees those mallers we are required lo slate to them in an Auditors, Report and for no other purpose. To the fullest extent permilled by law, we do not accept or assume responsibility lo anyone other than the Charity and ils Trustees, as a body. for our audit work, for this report, or for the opinions we have formed. DEAN STATHAM Chartered Accountants Slatulory Auditors 29 King Street Newcaslle-under-Lyme Slaffordshire ST51ER Date.. 19
The Harper Adams University Students, Union statement of Financial Activities Year ended 31 July 2025 Note Restrlcted Unrestricted Funds Funds 2025 2025 Total Fund$ 2025 Total Funds 2024 Incom8 from: Donations and legacies Charitable a¢livrties 271,200 997,978 2,020 271,200 1,226,078 2,020 241,200 1,314,339 2,631 228.100 Other income Total income 228,100 1.271.198 1.499,298 1.558,170 Expendlture on.. Charitable aclivrtEs 223,335 1,249,614 1,472,949 1,517,597 Total expendlture 223.335 1,249,614 1.472.949 1,517,597 Net incomellexpenditure} 4,765 21,584 26.349 40,573 Transfers between funds 20 16,078 119.184} 116,0781 19.184 Assets purchased 20 Net movement in funds 1.659 24,690 26,349 40,573 Total funds brought forward Net movemènt in funds 52.341 1.659 230.508 282,849 26,349 242,276 40,573 24.690 Total funds carrled forward $4,000 255,198 309.198 282.849 The Statement of Financial Activities includes all gains and losses recognised this year. The notes on page5 23 10 39 form part of these financial $18lemenls. 20
The Harper Adams University Students, Union Balance Sheet Year ended 31 July 2025 Note 2025 2024 Fixed Assets Inlan9ible assets Tangible assets 14 15 95,197 108,258 95,197 108,258 Current Assets Stocks 16 SO.393 52,924 181,600 37.428 80,089 134,769 Debtors 17 Cash at bank and in hand 284.917 252.286 CredrtOfS.' amounts falling due within one year 18 151,1421 150.319} Net current assets 233.775 201,967 Totsl assgls less ¢UTrent liabilities Cditors.. amounts falling due after more than one year 328,972 310,225 19 119,7741 127,3761 Total net assets 309,198 282,849 Charlty funds Restricted funds Unrestred funds 20 20 54,000 255,198 52.341 230,508 Totsl fund$ 309,198 282,849 These financial slalemenls were approved by the trustees and authorised for issue on and are signed on ils behalf by.. D Douglas President J Nlcklln Deputy Chair ofthe Board The notes on pages 23 to 39 form part of these financial slalemenls. 21
The Harper Adams University Students, Union ststement of Cash Flows Year ended 31 July 2025 2025 2024 Cash flows from operating activities Nel cash used in operating activities 65,314 20.649 Cash flows from invg$ting activitie$ Proceeds from the sale of tangible fixed assets 15.934 15,972 Purchase of tangib fed assets 125.1411 123,8181 Net cash used in invosting activitias 19,2071 17,8461 Cash flows from financing activities Repayments of I new finance leases 19.2761 {9.2761 Nel cash provided by financing activities 19.276} 19.2761 Change in cash and cash equivalents in the year 46.831 3,527 Cash and ¢ash equivalents al the beginning of the year 134,769 131.242 Cash and cash equivalents at the end of the year 181,600 134,769 22
The Harper Adams University Students, Union Notes to the Financial Statements Year ended 31 July 2025 General Infomiatlon The Harper Adams Universty Students, Union. l HASU"). is 8 Charitable Incorporated Organisalion registered on 9 June 2014, The objectives of HASU is lo advance the education of students at the university for the public beneff( by providing an organisalion to represent the members., promoting co-operation amongst ils members for social, cultural and sporting aclivilies,. maintaining communication with the university,. representing ils members and fostering good relations wrthin r(s membership, external bosies and within the community al large. Accounting Polieies 2.1 Basls of prgparation of financial statements The financial stalements have been prepared in accordance with the ChaTilies SORP {FRS 1021 Accounting and Reporting by Charities.. Slalemenl ol Recommended Practice applicable lo charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 leffeclive 1 January 20191, the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 1021 and the Charities Act 2011. The financial slalemenls have been prepared lo give a 'lrue and fair, view and have departed from the Charities IAccounls and Reports) Regulations 2008 only lo the extent required to provide a 'lrue and fair, view. This departure has involved following the Charities SORP IFRS 1021 published in October 2019 rather than the Accounting and Reporting by Charities". Slalement of Recommended Practice effective from 1 April 2005 which has since b&en withdrawn. The Charity meets the definition of a public benefit entity under FRS 102. Assets and liabilities are iniliaSly recognised al historical cost or transaction vaue unless otherwise staled in the relèvant accounting policy. 2.2 Going Concern HASU has cash resources and has no requirement for external funding. The Trustees have reasonable expectations that the charty has adequate resources lo continue in operational existence for th& foreseeable future. They continue to believe that the going concern basis of accounting is appropriate in preparing the annual financial slalements and believe there are no material uncertainties which effect HASU'S ability to continue as a going concern. 23
The Harper Adams University Students, Union Notes to the Financial Statements Year ended 31 July 202S Accounting Policlgs Icontinuedl 2.3 Income All income is recognised On the Charity has entillemenl lo the income, it is prc)bable that the income will be reeeivttd, and the amount of income receivable can be measured reliably. The recognition of income from legacies is dependent on establishing entitlement, the probability of receipt and the ability lo estimate with sufficient accuracy the amount receivable. Evidence of enlillemenl lo a legacy exists when the Charity has sufficient evidence that 3 gift has been left lo them Ilhrough knowledge of the existence of a valid will and ltte death of the benefaclorl and the executor is satisfied that the property in question will not be required lo satisfy claims In the estate. Receipt of a legacy musl be recognised when il is probable that il will be received and the fair value of the amount receivable, which will generally be the expected cash amount lo be distributed to the Charity. can be reliably measured. Donated services or facilities are recognised when HASU has control over the item, any conditions associated with the donated item have been met, the rèceipt of economic benefit from the use by HASU of the item is probable and that economic benefit can be measured reliab. On receipt, donated professional services and facilities are renised on the basis of the value of the gift lo the Charity which is the amount il would have been willing to pay lo obtain 5ervieès or facilities of equivalent economic benefit on the open market., a corresponding amount is then recognised in expendtiure in the period of receipt. The recurrent block grant Is receivable from Harper Adams University. HASU'S parent Governing Body. The grant is credited to the income and expenditure account in the year lo which il relates. Other income is recognised in the period in which it is re1Vable and to the extent the goods have been provided or on completion of the service. 2.4 Expgnditurg Expenditure is recognised once there is a legal or conslruclive obligation to Iransler economic benefit to a third party, It is probable that a transfer of economic benefits will be required in settlement, and the amount ol the obligation can be measured reliably. Expenditure is classified by aclivily. The costs of each activity are made up of the total of direct costs and shared costs. including support costs involved in undertaking each activity. Direct costs attributable lo a single activity are allocated directly lo that aclivily. Shared costs which contribute lo more than one activity and support costs which are not attributable to a single activity are apportioned between those aclivilie5 on a basis consislenl with the use of resources. Central staff costs ar& allocated on the basis of lime spent, and depreciation charges allocated on the portion of the asset's use. ExpÈndrtU on charitable activities and Governance costs are costs incurred on the union's operations, including support costs and costs relating lo the governance of HASU, apportioned to charitable events. All expendrture is inclusive of recoverable VAT. 2.5 Government grants Government grants relating lo tangible fixed assets are Irealed as deferred income and released to the Stslemenl of financial activities over the expected useful lives of the assets concerned. Other grants are credited lo the Statement of financial aclivtties as the related expenditure is incurred. 24-
The Harper Adams University Students, Union Notes to the Financial Statements Year ended 31 July 2025 Accounting Policies Icontlnu&dl 2.6 Taxation The Charity is considered lo pass the lesls Sel out in Paragraph 1 Schedule 6 of the Finance Act 201 and therefore il meets the definition of a charitable company for UK corporation lax purposes. Accordingly, the Charity is potentially exempl from tsxalion in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes. 2.7 Intanglble assots and amortlsatSon Intangible assets are initially recognised al costs. After recognition, under the costs model, intangible assets are measured al cost less any accumulated amortisalion and any accumulated impairment losses. Amortisalion is provided on intangible assets al rates calculated lo write off the cost of each asset on a straighl-line basis over its expected useful life. The eslimaled useful lives are as fo51ows'. Website 3 years 2.8 Tanglble fixed assets and deprgciation There 15 no sel de minimis level for capilalisalion of tangible fixed assets and each case is dea with on an individual basis. Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible rixed assets are measured al cost less accumulated depreciation and any accumulat impairment losses. All costs incurred lo bring a tangible fixed asset into Ils intended working condi(ion should be included in the measurement of cost. Depreciation is charged so as lo allocate the cost of tangible fixed assets less their residual value over their eslimaled useful 5ives. Depreciation is provided on the following basis,. General & Bar Assets Social Assets Clubs & Shop Assets 20D/D reducing balance 20Vo reducing balance 20'h reducing balance 2.9 Investments Investments held as fixed assets are shown at cost less provision for impairment. 2.10 stocks Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Cost is calculated based on most recent purchase price which is deemed lo approximate actual cost. 25
The Harper Adams University Students, Union Notes to the Financial Statements Year ended 31 July 2025 Accountlng Pollcles Icontlnuedl 2.11 Debtors Trade and other debtors are recognised al the settlement amount after any trade discount offered. Prepaymen15 are valued al the amount prepaid nel ol any trade discounts due. 2.12 Cash at bank and In hand Cash 8t bank and in hand includes cash and short-lem highly liquid investments with a short malurty ol three months or less from the date of acquisrtion or opening of the deposit or similar account. 2.13 Llabllltles and provlslons Liabilities are recognised when there is an obligation al the Balance Sheet date as a result of a past event. il is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement Can be eslimaled reliably. Li?bililies are recognised al the amount that the Charity anticipates i( will pay lo sellle the debt or the amount il has received as an advanced payment for goods or services il musl provide. Provisions are measured al the best estimate of the amounts required lo settle the obligation. Where the effect of the lime value of money Is material. the provision is based on the present value of those amounts. discounted at the pre-tax discount rate that reflects the risks specific lo the liability. The unwinding of the discount is recognised in the Slalemenl of financial activities as a finan cost. 2.14 Financial instruments The Charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised al transaction value and subsequently measured al their settlement value with the exception of bank loans which are subsequonlly measured al amortised cost using the effective interest method. 2.15 Flnance leases and hire purchase Assets obtained under hire purchase ¢onlra¢l$ and finance leases are capitalised as tangible fixed assets. Assets acquired by finance lease are depreciated over the shorter of the lease term and their useful lives. Assets acquired by hire purchase are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the Charity. Obligations under such a9reemenls are included in creditors, net of the finance charge allocated lo future per40ds. The finance element of the rental payment is charged to the Slalemenl of financial activities so as lo produce a constant periodic rate of charge on the nel obligation oulslanding in each period 2.16 Operatlng leases Rentals paid under operating leases ore Charged to the Statement of financial activities on a slraighl line basis over the lease term. Beneff(s received and receivable as an incentive lo sign an operating lease are recognised on a slraighl line basis over the lease term, unless another syslemalic basis is represenlalive of the lime pattern ol the lessee's benefit from the use of the leased asset. 26
The Harper Adams University Students, Union Notes to the Financial Statements Year ended 31 July 2025 2. Accoullting Policies Icontinuedl 2.17 Pen$ion$ The Charity operates a defined contribution pension scheme and the pension charge represents the amounts payable by the Charity lo the fund in respect of the year. 2.18 Fund accounting General funds are unreslricled funds which are available for use al the discretion of the Trustees in furtherance of the general objectives of the Charity and which have not been designated for other purposes. Reslricled funds are funds which are lo be used in accordance with specific reslriclions imposed by donors or which have been raised by the Charity for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is sel out in the notes lo the financial slalernenls. Critical ac¢ounting gslimates and areas of ludgements Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed lo be reasonable under the circumstances. Critical accounting eslimales and assumptions.. The Charity makes eslimales and assumptions concerning the future. The resulting accounting estimates and assumptions will, by definition, seldom equal thè related actual results. The eslimales and assumptions that have a significant risk ol causing a material adjustment lo the carrying amounts of assets and liabilities within the next financial year are discussed below. lil Donation of facilities by The Harper Adams University The Student's Union occupies ils buildings on a rent free basis from the Harper Adams Universty. In accordance with the Charities SORP FRS 102, the Union has valued the benefit il received from occupying this Spa which has been estimated al a comparable market rent in the area of £56,200. lill Support costs Many of the support costs incurred by the Union, such as support staff costs and service costs, are shared between aclivilies. The Union's policy lo allocate these costs on the basis of lime spent, and depreciation ¢harges allocated on the proportion of the asset's use. 27
The Harper Adams University Students, Union Notes to the Flnan¢lal Statements Year ended 31 July 2025 Income from donation5 and legacies Restricted Unrostricted Funds Funds 2025 2025 Total Funds 2025 Total 2024 Harper Adams University donated services and facilities 56,200 S6.200 56.200 Harper Adams Universty Block Grant 215,000 215,000 185,000 Total 2025 271.200 271,200 241,200 Total 2024 241,200 241.200 Income from eharltable actlvltles Restricted Unrestrict Funds Funds 2025 2025 Totsl Funds 2025 Total 2024 Bar & Catering 568,405 568,405 600,950 Events & Security Clubs & Societies 382,025 382,025 429,231 228.100 34,485 262,585 249,763 Shop 13,063 13.063 34,395 Total 2025 228,100 997,978 1.226,078 1,314,339 Total 2024 213.963 1,100,376 1,314,339 28
The Harper Adams University Students. Union Notes to the Financial Statements Year ended 31 July 2025 Other incoming resources Restricted Unrgstrlcted Funds Funds 2025 2025 Total Funds 2025 Totsl 2024 Other incoming resources 2,020 2,020 2,631 Total 2025 2,020 2,020 2,631 Total 2024 2,631 2,631 Analysis of expenditurg on charftable activities Summary by fund typ& Restrlcted Unrestrictod Funds Funds 2025 2025 Total Funds 2025 Total 2024 Bar & Catering Events & Security Clubs & Societies 471,985 345.204 48,595 5,675 471,985 345,204 271,930 5.675 378,155 470,227 395.913 249,947 29.477 372,033 223,335 Shop Represenlalion, advice & faeililies 378.155 Total 2025 223,335 1,249,614 1.472.949 1,517,597 Total 2024 223,487 1,294,110 1.517,597 Ralslng and Giving IRAGI fund The Union handles funds with regards to RAG. These funds are not available for general use of the charity. Fundraising events lake place throughout the year specili¢ally to raise money for their chosen charities. In the accounting period ending 31 July 2025. the Union raised funds nel of costs of £7,117 12024.. £1,901). An amount of £NIL is {2024.. £NILI is included in other creditors relating lo undislribuled funds. 29
The Harper Adams University Students, Union Notes to the Financial Statements Year ended 31 July 2025 Net Incomellexpenditurel 2025 2024 This is stated after charging: Depreciation of tangible fixed assets Amortisation of intangible fixed assets 25,534 26,887 436 Operating lease rentals IProfrtlAoss on sale of tangible fixed assets 13.2661 {11,1291 10. Analysi5 of expenditure by activities Activities Lbndertaken diredly 2025 Support costs 2025 Total Funds 2025 Total Funds 2024 Bar & Catering Events & Se¢urrty Clubs & Societies 318,974 344,660 271,387 5,133 118,676 153,011 544 471,985 345,204 271,930 5.675 378,155 470,227 395,913 249,947 543 Shop Representation, advice & facilities 542 29,477 372,033 259,479 Total 2025 1,058,830 414,119 1,472.949 1,517,597 Total 2024 1,136,335 381,262 1,517.597 30
The Harper Adams University Students, Union Notes to the Financial Statements Year ended 31 July 2025 10. Analysis of expenditure by activities Icontinuedl Analysls of support costs Bar & Events & Clubs & Catering Security Societles 2025 2025 2J)25 Shop 2025 Wages and salaries Govemance costs- Trustees, expenses Accountancy Auditor's remuneration 152,466 37 36 289 289 288 288 219 219 219 218 Total 2025 153,011 544 543 542 Total 2024 139.882 586 586 Representation, Advlce and Faclllties 2025 Total Funds 2025 Total Funds 2024 Wages and salaries Governance costs- Trustees, expenses Accountancy Auditor's remuneration 239,908 1,310 10,386 7,875 392,374 1.455 11,540 8.750 357.810 1,104 13,472 8,876 Total 2024 259,479 414.119 381,282 Total 2023 239,622 381,262 Admin wages have been allocated solely to Representation, advice and facilities and Bar Wages have been 815ocaled lo Bar & Catering. 900/0 of Trustees, expen5e5, accountancy and auditor's remuneration have been allocated lo Represenlalion, advice and facilities. The remaining 10ts10 has been split equally beeen the other charitable aclivilies. 31
The Harper Adams University Students, Union Notes to the Financial Statements Year ended 31 July 2025 Auditor$' rgmuneration 2025 2024 Fees payable lo the Charity's auditor for the audit of the Charity's annual accounts 7,420 7,586 Fees payable lo the Charity's auditor in respect of.. All non-aud(( services not included above 1,330 1.290 12. Staff costs 2025 2024 Wages and salaries Social security costs Employer's pension defined contributions 408,174 19,405 10,643 374,028 17,573 7,461 Total 438.222 399,062 The average number of persons employed by the Charity during the year was as follows.. 2025 No. 2024 President Offe staff 10 Part time bar stsff 36 41 Total 47 51 No employee received remuneration amounting lo more that £60,000 in either year. Key management personnel are considered lo be anyone who has authority and responsibilty for planning, directing and controlling the aclivilios of the Union. During the year, key management personnel received remuneration, including employers pension conlribulions totalling £98,551 12024.. £91,826). 32
The Harper Adams University Students, Union Notes to the Financial Statements Year ended 31 July 2025 13. Trustg9s' remuneratlon and expens8s The President of HASU and the Vice President both receive salaries for the year, as aulhorised in the Union's governing document, for the representation, campaigning and support work they undertake as dislincl from their Iruslee re5PDnsibililies. The President's salary paid in the year was 23.332 12024.. £23,219). The Vice President's salary paid in the year was £23,78112024.. £22,5911. During the year, fNe Trustees received reimbursement of expenses tolalling £1,45512024.' £1,453), in relation lo travel and subsistence in attending HASU meetings. 14. Intanglble assets Website Cost Al 1 August 2024 26,634 Al 31 July 2025 26,634 Amortlsatlon Al 1 August 2024 26,634 Al 31 July 2025 26,634 Net book value Al 31 July 2025 Al 31 JU 2024 33
The Harper Adams University Students, Union Notes to the Flnancial Statements Year ended 31 July 2025 15. Tangible fixed assets General & Bar Assets Soclal Assets Clubs & Shop Assets Total Cost or valuatlon Al 1 August 2024 Additions 125,300 427 17,724 5,630 109.344 19.184 116.9441 252,368 25.141 115.9441 Disposals At 31 July 2025 125,727 23.254 112.584 261,565 Depreciation Al 1 August 2024 Chargefor the year On disposals 83.269 8,477 15.319 1.310 45,522 15,747 13,2761 144.110 25.534 13,2761 Al 31 July 2025 91,746 16,629 57,993 166,368 Net book value Al 31 July 2025 33,981 6,625 54.591 95.197 Al 31 Juty 2024 42,031 2,405 63.822 108,258 The net book value of assets held under finan leases, included above are as follows.. 2025 2024 Clubs & Shop assets 23.192 32,468 16. Stocks 2025 2024 Finished goods and goods for resale 50,393 37,428 34
The Harper Adams University Students, Union Notes to the Financial Statements Year ended 31 July 2025 17. Debtors 2025 2024 Due wlthln one year Trade debtors 4,272 2A71 46,181 29,933 3,587 46,569 Other debtors Prepayments and accrued inccme 52,924 80.089 18. Credltors: Amounts falling due within one year 2025 2024 Trade creditor5 17,865 8.072 7,602 987 20,419 5,583 7,602 1,767 14.948 Other laxalion and social security Obligalicins under finance lease and hire purchase contracts Other CditOrS Accruals and deferred income 16,616 51.142 50,319 19. Creditors: Amounts falling due after more than one year 2025 2024 Obligations under finance18ase and hire purchase contracts 19,774 27,376 35
The Harper Adams University Students, Union Notes to the Flnancial Statements Year ended 31 July 2025 20. Statement of funds ststement of funds- current year Balance at 1 August 2024 Fixgd Balance at Transfers Assets 31 July Inloul Purchased 2025 Income Expanditur Unrestricted funds General Funds 230,508 1,271,198 11,249,614> 116,0781 19.184 255,198 Restrlcted funds Harper Ireland other Clubs & Societies 11.001 41,340 1.851 226,249 14,4541 1218,8811 8,398 4S,602 16,078 {19,1841 52,341 228,100 1223,3351 16,078 119,1841 -54,000 Total of funds 282,849 1,499,298 11,472,949) 309.198 statement of funds- prior year Balance al 1 August 2023 Fixed Balance al Transfers Assets 31 July Inloul Purchased 2024 Income Expenditure Unrestricted funds General Funds 181,920 1,344.207 11,294,110) {20,3831 18,874 230,508 Rgstricted funds Harper Ireland other Clubs & Societies 12,524 47.832 5,841 208,122 17,3641 1216,1231 11,001 41,340 20,383 118,8741 60,356 213,963 1223.4871 20,383 118,8741 52,341 Total of funds 242,276 1,558,170 11.517,5971 282,849 36
The Harper Adams University Students, Union Notes to the Financial Statements Year ended 31 July 2025 21. Restri¢tsd funds Harper Ireland and other clubs and societies funds represent balances hèld for specific clubs and societies for the specific benefit of that club or society, where the ultimate control would vest with the Union. Transfers represent the designation of funds and to meet the shortfall of funding of restricted activities from unreslricled reserves. 22. Analysis of net assets between funds Analysls of net assets between funds- current year Restricted Unrestrlcted Funds Funds 202S 2025 Totsl Funds 2025 Tangible fixed assets Intangible fixed assets Current assets 54,514 40,683 95,197 26.862 17,6021 119,774} 258.05S 143,5401 284,917 151.1421 119,7741 Creditors due within one year Credi(ors due in more than one year Totsl 54,000 255,198 309,198 Analysis of nel ass&ts between funds- prior year Restre Unrestricted Funds Funds 2024 2024 Total Funds 2024 Tangible fixed assets Intangible fixed assets Current assets 63,725 44,533 108,258 23,594 17.602} 127.3761 228,692 142.7171 252,286 150,3191 127,3761 Creditors due wrthin one year Creditors due in more than one year Total 52,341 230,508 282.849 37
The Harper Adams University Students, Union Notes to the Financlal Statements Year ended 31 July 2025 23. Reconciliation of net movement In funds to net cash flow from operatlng actlvltles 2025 2024 Net incomelexpendf(ure for the year las per Stslemenl of Financial Activiliesl 26,349 40.573 Adjustments for.. Depreciation charges Amortisalion charges Loss on sale of tangible fixed assets Interest paid on finance leases and hire purchase contracts Ilncreasellde¢rease in stocks Decreasellincreasel in debtors Increaselldecreasel in credrtors 25,534 26,887 436 13,2661 1,674 {12,9651 27.165 823 111,1291 1.673 11,755 127.1311 122,4151 Ngt cash provided byllused Inl operating activities 65.314 20,649 24. Analysis of cash and cash oquivalentS 2025 2024 Cash in hand 181,600 134,769 Total cash and cash equivalents 181,600 134,769 25. Analysls of changes in net debt At 1 August 2024 Cash flows New finance At 31 July Leases 2025 Cash at bank and in hand 134,769 134.9781 46,831 7,602 181.600 127,3761 Finance leases Total cash and cash equivalents 99.971 54,433 154.224 38
The Harper Adams University Students, Union Notes to the Financial Statements Year ended 31 July 2025 26. Pènsion commitments The Charity operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the Charity in an independently administered fund. The pension cost Charge represents contributions payable by the Charity lo the fund and amounted lo £10,64312024'. £7,461). Contributions tolalling £NIL12023.' £NILI were payable lo the fund al the balance sheet dale. 27. Related party transactions During the year, HASU received a grant of £215,00012024.. £185,000) from Harper Adams University. HASU also recharged expenses lolalling £8,599 to Harper Adams University 12024.. £45,706). Al the year-end, £665 remained outstanding12024.. £27,854). In 8ddilitsn, HASU made purchases lotalling £51,917 from HarperAdams Universily12024'. £28,321}. AI the year-end £60012024.. £6,189) was due lo Harper Adams University. Rent and overheads with an estimated value of £56,200 have also been donated by the University for the year12024.. £56,200). Assets are leased by Harper Adams University on behalf of HASU. Al the year-end £27,376 was outstanding on these lease agreemenls12024'. £34,979). There were no other related party transaction lo disclose. 39