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 ResOU￿e$
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 Refe￿ndum. 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
I￿1￿* 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 prI￿S 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
Y1Dl￿TrI • ￿l￿dI>l4
.31cru￿ • ts2*y￿0
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 con￿rn 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 Practi￿1.
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 in￿ming
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 fU￿1r1ed 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 state￿entS 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 disclosu￿S 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
C￿ditors.. 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
Unrestr￿ed 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￿ f￿ed 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 va￿ue 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 re￿nised 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 r￿e1Vable 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
be￿een 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
Off￿e 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 C￿ditOrS
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
Restr￿e￿ 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