2023-07-31-accounts

The Union of UEA Students Limited Annual Report and Accounts for the year ended 31st July 2023 Company No. 09664303

Annual Report and Accounts for the year ended 31 St July 2023 Executive and Union Information Annual Report Tnjstee Report Structure Govemance and Management Relationship with the University of East Anglia Charitable Objerts Trustee Board Responsibilities Strategic Report Review of achievemerits and performance Financial Review and results Reserves Policy Principle risks and uncertainties Future Plans 8-16 8-12 12-13 13 12-15 15-16 Independent Audltors report 17-20 Statement of Financial Actlvities for the year to 31 july 2023 21 Balance Sheet as at 31 July 2023 22 Consolidated Cash Flow Statement 23 Notes to the Consolldated Cash Flow Statement 24 Ntstes to the Accounts including 25-43 Accounting Policies Financial Performance of the Union Incoming Resources from activities to generate funds Analysis of expenditure on charitable activities Central Overhead Costs Analysis of staff costs Tangible Flxed Assets Analysis of Charitable Funds 25-27 28 29 30 31 32 35

Annual Report and Accounts for the year ended 31 SF July 2023 Executlve and Unlon Informotlon Address: Union House, University of East Anglia, No￿lch, Norfolk, NR4 7T] Charltable Status: The Unlon was founded in 1963, registered in England and Wales, number 1139778 on the 11 January 2011 The Union became the Union of UEA Students Limited, a company limited by guarantee, company registration number 09664303, at the end of the financlal year 2014-15. All of the operations and assets of the Unincorporated Unlon were transferred to the company at this date and continued under the new company. At this time the Charity received a new registered number 11162866. Charity Trustees: The Unlon's Constitutlon, approved by Unlon Councll on 18 Aprll 2013 approved by University Council, 20th May 2013 and amended by a Commlttee of Universlty Councll. 20 January 2014. continued from the previou5 Constitution, approved by a committee of University Councll on 23 March 2010, the establishment of a Board of Trustees comprising the 5 elected Full Time Officers, not more than 2 Part-time Student officers eleLted by and from the Part-time Student Offlcers, I Postgraduate.Student elected by the Postgraduate Assembly not MO￿ than 4 Student Trustees elected by Union Council an not more than 6 External trustees appointed by the Appointments Commlttee (the Constitution was amended by Union Council on the 6 December 2018, approved by a committee of University Council on 20 January 2019 to increase the number of External Trustees from 4 to 6) Trustees Appolntments/Retirements Term of Offlce Ends Elected Full Tlme Offlcer5 Aaron Campbell Eyie Drennan Elise Page Serene Shibli Sexton Taylor Sounes Luke Johnson Nathan Wyatt Resigned 30th June 2023 Resigned 30th June 2023 30-Jun-24 30-Jun-24 30-Jun-24 30-Jun-24 30-Jun-24 Appointed 1st July 2023 Appointed 1st July 2023 Elected Part Time Officers Holly Summers Nathan Wyatt Liz Bigalke 30-Jun-24 Reslgned 30th June 2023 Appointed 19-Oct-2023 30-Jun-24 Elected Student Trustees Paige Skevington Katie Rayner Negan Anderson Adediran Oladipo Chlkaosolu Emeka Ivo Garnham Catriona Lee Megan Powley Resigned 14th January 2023 Resigned 30th June 2023 Resigned 30th June 2023 Resigned 30th June 2D23 Appointed 16th ortober 2023 Appointed 16th Ortober 2023 Appointed 16th Ortober 2023 Appointed 16th October 2023 30-Jun-24 30-Jun-24 30-Jun-24 30-Jun-24 Elected PG Trustee Oluwafemi Adeyemi Resigned 30th June 2023 External Trustees Dev Aditya Ruby Ashogun Anwar Azari Jeremy Clayton Frances Fay Simorb George Ben So er 31-Dec-23 Resigned 15th May 2023 30-Nov-24 Resigned 30th June 2023 Resigned 4th September 2023 Appolnted 1st July 2023 30-Jun-26 28-Feb-25

Annual Report and Accounts for the year ended 31 st July 2023 Organisatlonal Monagement Chief Executlve Offlcer - Toby Cunningha Reslgned 20th Narch 2023 Interim Chief Executive Officer l Director of HR & Shared Services- Caroline Wilson Assistant Director, Finance Tim Cave Assbstant Director, Charity I Interim Dirertor and Deputy C.E.O. Clalre Boothby-Barnbrook Asslstant Direttor, Social Enterprise Richard Hunter Interim Assistant Director of Marketingi Communications and Inslght - Dlgby Gordon-George Group Structure The Union has two wholly owned non-charitable subsidiarles, Students, Union Services (East Anglia) Llmlted, whlch carries out the trading 4ttivitles of the Union based on campus at UEA, and The Waterfmnt - student Union Services Limited. Their trading results are consolidated in these financial statements. Audltor5 Crowe U.K. LLP, Aquis House, 49-51 Blagrave Street, Readlng, Berks, RGI IPL Bankers CD-operative Bank, 69 London Street, NorwSch, NR2 IHT Solicitors Eversheds, Kett House. Station Road, Cambridge, CBI 2J

Annual Report and Accovnts for the year ended 31 $1 July 2023 The Unlon of UEA Students Annual Report and Accounts for the year ended 31st July 2023 Trustees Report The Trustees of the Unlon of UEA Students for the purposes of the Companies Act 2006, present their annual report in compliance wlth that Act. together with the financial ststements, including the Trustees Report and Strategic Report, for the year ended 31 July 2023. Structure. Govern?nce and Managelnent The Union of UEA Students 15 governed by it5 Constitution dating from 1963, which was Substantially revised in 1996 to incor[￿rate the requirements of the 1994 Education Act, arnended iTTr 2008 and re- written in 2009 and 2013. The major officeholders are elected by a cross campus ballot of ordinary members of the Unlon on an annual basis and receive comprehensive training from the National Union of Students and the Unbon's management team. The sabbatical PDSts are remunerated as authori5ed in the constitution in accordance with the Education Att 1994 and cannot exceed two years duration for each holder. Each officer has speclflc responslbility for aspects of the Union's activities and Is supported by permanent staff who are organised in departments. The Unlon operates on democratic principles. The Union Council has the power to set policy statements, reviews annual budgets and accounts of the Union and oversees the election of students to serve on Union and University committees. Unlon Council's membership comprises the Union's Student Officer Committee, together with representatives of all Union clubs, societies and peer support groups and representatives of students in every school of study. The Student Officer Committee operates as the maln representatlvelleadership body in the Union. The Trustee Board can set aside declsions of Union Council if it incurs significant risk to the finances, legal standbng or reputation of the organisation but Union Council can ultimately remove trustees or offlcers from office. The post of external trustee Is advertised on thé Union website and application5 invited from relevant contacts and assoclated bodies, in particular current trustees. External trustees are appointed by a panel based on skills and knowledge. Lay students apply in a similar fashion but are appointed by Unlon council when it slts. All trustees of the Union are required to attend training. Trustees receive thi5 based on NUS, good governance guide, which revolves heavily around Charity Commlsslon and best pract1￿ advlce. The Unlon operates pollcles for the full and fair consideration of applications. continuing Employment and training while employed and tralnlng. career development and promotlon for d15abled persons. The Unlon maintains arrangements aimed at systematic pmvislon of employee Infomation, regular consultations so that omployees. views can be considered, encouraging employees, involvement in the entity's perforrnance and achieving a common awareness of the financial and economic factors affectlng the entity's performance.

Annual Report and Accounts for the year ended 31 st July 2023 Relationship with the University of East Anglla The Union of UEA Students receive5 Grants from and occupies a building owned by the University of East Anglia. A fornal lease is in place between the University and the Union of UEA Students governing the use of Union House. Thi5 creates an annual charge of £438,000 payable by the Union for which specific addltlonal grant fundlng Is re￿Ived. Whilst the Union continues to generate funding from trading artivities, It remains dependent on the University's support. There Is no reason to believe that this or equivalent support from the University will not continue for the foreseeable future as the Education Act 1994 irnposes a duty on the University to support a student representatlve body. Fundralsing The charity had no fvndraising activities requiring disclosure under S162A of the Charities Act 2011. Charitable Objeets as set out in our Constitution The Union's object 15 the advancement of education of students at the UniversTty of East Anglia for the public benefit by-. promoting the interests and welfare of students at the University of East Anglia during their course of study and representingi SUPPOrting and advising students.. being the recogni5ed representative channel between students and the University of East Anglia and any other external bodie5' and providing soclal, cultural. sporting and recreational attivities and forums for discussions and debate for the personal development of its students. The trustees confirm that, in exercislng their powers and duties, they have cornplied wlth their duty to have due regard to the guidance on public benefit published by the Charity Commission. Trustee Board Responsibilities The Trustees (who are also directors of the Union of UEA Students Limited for the purposes of company law) are responsible for preparing the Trustees. Annual Report and the financial statements in accordance with applicable law and United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards). Company law requires the Trustees to prepare financial statements for each financial year. Under company law the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and of the Incoming resources and application of resources, including the income and expenditLEre, of the charitable company for that period. In preparing these financlal statements. the Trustees are required to.. selert suitable accounting policies and then apply them consistently* observe the methods and principles in the Charities SORP; m4ke Judgments and estimates that are reasonable and prudent. state whether applicable UK accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements. and prepare the financlal statements on the going concern basis unless it is Inapproprlate to presume that the charitable company will continue in business.

un Annual Report and Accounls foi the year ended 31 st July 2023 The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charity'5 transactions, dlsclose with reasonable accuracy at any time the financial position of the charitable company and enèble them to ensure that the financial statements comply with the relevant accounting standards and the provisions of the charity's constitution. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable Steps for the preventton and detection of fraud and other irregularities. Provlslon of Informatlon to Audltors Each of the persons who are d1￿CtorS at the time when this Directors, report is approved has confirmed that: so far as that director is aware, there is no relevant audit information of whlch the Company's auditors are unaware, and that each dirertor has taken all the steps that ought to have been taken as a ￿1￿ctOr In order to be aware of any infomiatlon needed by the Company's auditors in connectlon with preparlng their report ar)d tD establish that the CoThpany's auditors are aware of that information

Annual Report and Accounts for the year ended 31 gt July 2023 strateglc Report Review of achievements and performance of the Group for the period Withln the year the Union undertook activlty to secure the intere5t5 of and impmve the experience of students at UEA. Whilst the academic experience had largely returned to normal after the covid period, student behaviour showed a significant shift, with fewer students going out to bars and clubs. Thls shlft wa5 further exacerbated by the c05t of Ilving crisis and the fact that Students are not eligible for much of the suppc>rt being offered to those strugglbng wlth rlsing costs and stagnating income. Many students told us that they were worried about paying their bills, staying warm and staying on top of thelr studies. Our officer team focused on elevating the voices of our members and lobbying the university for further support restjlting in a range of cost of Ilvlng support and Introduclng wami banks on campus. Officers also worked closely with students, the University and Colleges Union and UEA staff in response to proposed cuts, supporting industrial action in line with our policy and lobbying for no redundancles due to the impact on Student academic experience. We also wurked c105ely with UEA on the development of their submI￿10n for the Teachlng Extsllence Framework and developed our own independent student submission. Diversity and inclusion were key priorities this yeor- for example in developing Spertrum, a new regular evenlng event for LGBTQ+ members, and the Black Business Brunch. Several officers also worked on lobbying the university to improve accessibility on campus which resulted in commitments to Look into a live system wrth updates on where repairs are needed so that there is real-time information available to disabled students. Identify altemative acces5 routes and make lift users aware of these at the point of the broken lift so they're aware of how they can get to where they are going in a safe manner. Including how to report Issues of repalr in PEEPS. Develop an action plan for if somegne get5 stuck in a lift on campu5. Work v¥ith other areas to raise awareness of disability awareness communication such as the accommodation office. Ascertaln whether the Congregation Hall lift can be altered to be more accesslble in how it operates. Monltor statlstlcs of Whe￿ and when certaln lifts on campus break down. Review information provided on inside and outside of lifts including posters with contatt inforniation for helpdesk and a QR code for updated infom)ation. We addbtlonally successfully lobbled and worked vvith the University to Improve student eXperIen￿ in the following areas; Protection for students during Strikes and marking boycotts Safety on campus Improvements to extenuatlng clrcumstances and tlmetabllng Using more inclusive language Ethical investments and banklng Accessibility of gender-neutral toilets on campus Reintroducing a quiet spa Developing a blended learning policy Sharing pronouns on Blackboard Protecting postgraduate spaces on campus University civic responsibillties The internal focus for thls year was addressing the comblned Impact of changed student behaviour and the cost of Ilving crisis on our commercial income. Since we transferred ownership of our café and shop to UEA during the Covid period as part of the renegotiation of our block grant, our commercial income is now entI￿lY derived from our bars and clubs, which are some of the hardest hit on the high street. Having already reviewed non-staff costs at the start of the year, in the Sprlng. the Board approved a plan that focused on ￿Structur1￿g our staff costs. keeping other operational costs down, diVe￿]fyIng our income and maximlzing current income by refreshing our programme to keep it relevant and diverse. Towards the end of the year we instlgated the three year plan to improve our financial sustainability, starting wtth the 5tsff restructure, introducing a new approach to programming and investing in a ￿usinesS Development Manager role to help explore new Income opportunities. We contlnue to work on the plan In a challenging and unpredictable extemal envbronment.

Annual Report and Accounts for the year ended 31 st July 2023 This year we also embarked on a new three year strategy based on tonsultation with a wlde range of stakeholders, including our mernbers, elected offficers, trustees and staff. We brought together our strateglc prSorltSes Into th￿e themes.. Your SU works for you Safe Spa￿s for all Skills for Life The foundations of the strategy were embedding equality, diversity and inclusion in everything that. we do, making our democratic struttures more Incluslve and accessible, increaslng transparency. IJP5killing students and Improving our understanding of and response to organisational risk. This was the second year that we ran our Alterline Student Survey to understand member awareness of and satisfartion with our services as well as gaining insight Into member prioritie5. We aligned the key performance indicators for the strategic plan wlth the data we were gaining through the survey and were pleased to make progress almost across the board in year one. Your SU Works For You l. We effectively represent student inteTe5ts around education We were proud to achieve positive feedback in the Natlonal Student Survey, where we achieved a score of 73.3Vo Posltive response above the UK average of 71.9Wo and the sector benchmark of 69.8% ft)r how well the Student Union represent5 Students, academic interests. We successfully completed consultation wlth students around our student submission to the Teaching Excellence Framework for the Office for Students, which contributed to UEA belng awarded a Silver ratlng. We prioritised training and support to our 386 course reps and convenors and havlng been reviewing how we communicate their work. For example, we increased awareness of course reps from 78Wo to 89%. We also increased the per￿ntage of students who know what we are doing to ￿present their interest from 32010 to 440/4 and those who agree that we effectively represent their Inte￿$ts on academic issues from 51010 to 610/0. Acr05S the life of the strategyi we expect to see better engagement across the SU as a result of promoting clear routes of communication between schools, course reps, convenors, students, academlc socleties and elected officers. We continued to deliver the students of colour arnbassador scheme across a number of schools and the officers continued to en5￿￿ that all Students, including postgraduate students, feel like their voices are heard in our academic representation system. We increased the percentage of students who agree we represent their interests around postgraduate Issues from 47% to 58Q/o the We supported the vvork of our part-time officer5 to ralselssues impactlng student from different backgrounds and Increased the proportSon of students who agreed we represent thelr Interests in disability issues from 64Vo to 760k. 2. Our democratlc and governance processes are transparent and accessible We have been reviewing our democratlc structures and processes to ensure they are more accessible, inclusive, streamlined, meaningful and easily understood. We want to remove unnecessary bureaucracy and barriers to enable more gra55mots student activity and empower students to do more. To this end we have researched different SU rnodels and leaming from the sector to understand what works and what doesn't. We expect that when complete this work will lead to increased involvement In our democracy at all levels and we will ensure that our democracy is joined up with the delivery of services. We have already increased the percentage of students who feel that SU decision5 are driven by student voice frorn 20% to 65Ll/o. We maintalned an IIVO election turnout, whlch is consistent with the sector average and we increased our engagement score (the average number of elections each voter voted In) from 6 to 7.2.

Annual Report and Accounts for the year ended 31 st July 2023 2019 02 ch +2.40/0 Individual votes 1,977 9.560 4.84 2,750 16,733 6.08 2,140 14,902 6.96 1815 1858 Unique votes Engagement score 10,750 13,332 3. We provlde high quality, relevant advocacy and support This year we focused on updating the Advice website to ensure that students and stskeholders are provided clear infomiatlon about how to report different concerns and how to access support. This includes upskilling students to understand their rights and access support and information for themselves. We continue to provide hbgh quality, fully independent SLJPPOrt for students, but due to Increased demand we have revised the ?reas that we support on, f¢>cu5ing primarily on suppgrt and advocacy for students in dlfflculty over their course or with university regulations and therefore going through disciplinary and appeal processes. We are also startlng to use dats and inslght to be more preventative and plan the advice servlce effectively. As a result of the above, we have incre?sed the proportion of students who agree that the SU provide5 useful advice from 59Wo to 76Vo and increased sat15fattion with the service from 71Wo to 79¥0. 4. Communl¢atlng with our members & Community We regularly use data and insight, particularly that gathered through our annual pulse survey and through our student representatlve5 to understand the needs and interests of different student groups. We now have a more consistent approach to recording management information. Taking a sophisticated, targeted appmach to communications and marketing has resulted In hlgher engagement across our web channels both among students and our customers in the wider community - we hlt 10,000 followers on Instagram. As a result we have increased the proportion of students who know what is going on at the SU from 30% to 55VD. We created a Web Developer role which has enabled a full review of our website, introducing better hygiene and consistency, improving custorner journeys and decreasing baunce rates. We have also achieved greater brand differerktiatlon between ourselves and UEA. As part of our plans to manage risk and have a clear policy to limit brand and reputational damage we worked with an extemal PR agerbcy to review our crisis rnanagement approach. 5. Balanclng proflt and charlty out¢ome Given the decllne In commercial income thi5 Past year we have been focusln9 on Improvlng and diversifying our programme to counteract the impact of the cost of living and post-covid changes in student 50cialising behavlour. We have trialed a series of one off Friday night events aimed at different audiences and these have proved popular. We have also been explorir)g expanding the use of our venues and working closely with UEA on the re-development of the Street. We continued to offer a range of fun and safe events arTrd activities for all students. with welfare support on the night and campaigns supporting behaviour change. We have updated our recruitmer)t and training processes for our Alcohol lrnpact Crew and are looking into how we replicate this good practice in the Waterfront venue. We continually monitor behavlour and Incidents to ensure our response is appropriate and to understand trends. which are discussed with our our safety and welfare partneFS at UEA. We have delivered new safeguarding training to our securlty staff. We have increosed the proportion of 5tudent5 who agree that the SU has a positive impact on their social life from 530/D to 67010, who agree that the SU provides social and recreational spaces that meet students, needs from 690/0 to 810/D. We have also explored ways of keeping our costs low with tighter stock control, negotiating new deals Wlth 5uppllers. io

unlon al Annual Report and Accounts for the year ended 315t July 2023 Safe Spa¢e$ For All l. We commlt to creatlng a communlty where all women feel safe because discrimination and harassment by men has become taboo This year we have reviewed our code of conduct to ensure it is consistent and manageable and updated our ACAS training for managers. We have introduced and promoted spiking testing kits in our venues in partnershlp wlth Norfolk and Norwich University Hospltal and Norfolk Constabulary. We have increased the proportion of of students who agree the SU represents their interests in gender Issues from 70% to 75Vo. 2. We ￿MMIt to creating a mora aquitabla and inclusive organisation for our staff and members We put a lot of emphasis this year on our Hlstory Month events programme as the focal [￿int for our member facing equlty and inclusion work. We have increased the propDrtion of stLJdents who agree that the SU Is we5coming and inclusive to all types of students from 71Wo to 830/0 and the proportio of students who agree the SU represent5 their interested around equality and diversity Issues from to 84Wo. We have increased the percentage of students who say that the SU represents their interests around disability issues from 64D/o to 760/0 and around LGBTQ+ issues from 72Wa to 790h. Internally, we have focused on training and upskilling our staff. 700/0 of our management tearn have completed the NUS Leadership in Race Equity course and the wider staff team have been trdined in disability, antisemitism and LGBTQ+ awareness and further training has been offered around unconscious bias. 3. We will further embed a harni reduction approach in our servl¢es and actlvltles We aim to change drinking culture so that students drink more responsibly - shifting the perception that drinking alcohol is a fundamental part of the unlverslty experfence and showing that social artivity that doesnt involve drinking is normal. We have been working on ensuring our welcome programme Is Inclusive and offers a range of fun, soclal events that are welcomlng to all. We have also been promoting safety and welfare in our venues, increasing awareness of our alcohol impact crew from 59Q/o to 73Vo and satlsfactlon wlth the alcohol impact crew from 78Wo to 84Wts. 4. RIS￿ compliance and health and Safety Having undertaken an external review of our health & safety processes we have spent tlme thls year further stsndardlsing our Event health and safety procedures. Our senior management team undertook risk management training for leaders to shift our approach to risk rnanagement to a broader and more strategic approach to organisational risk. We undertake regtjlar meetings with key stakeholders within UEA and locally with a focus on opene55, transparency and collaboratlon. We have increased financial transpa￿ncY with updates to the way we share Information with our members and we have increased the proportion of student5 who are aware that any profits made through our commerclal services are used by the SU to fund services that directly benefit students from 29Wo to 47Q/o. Skllls for Ufe i. students are better equlpped to deal wlth the rlslng cost of living Thls year ￿spOndIng to the impact of the cost of livlng crlsis on student5 and thelr academlc and social experience was a key focus. Our members and officers Suc￿ssfUllY lobbied union CDunciI and UEA to approve funding for a range of measures Including the creation of 'warm banks, on campus to help tackle fuel poverty during the winter. months. We published our research on the real cost of sport Sn order to improve transparency for members Joinlng sports clubs and between this and our programme of free to access activities, we increased the proportion of students who agree the SU makes it is easy for them to get involved in actlvities from 61°h to 75%. Our officers and Advice li

Annual Report and Accounts for the year ended 31st July 2023 team worked c105ely wtth UEA'5 welfare servlces to ensure information and support was readily available arid easy to acce55 both via self service on our website and thmugh signposting to appropriate face to face support. We supparted students across 955 cases on issues such as houslng, academlc appeals and student conduct. 2. Supportlng studonts to find thair communitles and galn a sense of belonglng We contlnued to help students find their comwnunities by supporting 286 student groups covering wide range of sports clubs, interest-based socleties and peer support groLJPS With 9497 members, which means 540A of students are a member of at least one SU comrnunity. We also offered a UEA- funded programme of low commitment activities to help combat loneliness by helping students to build social skills and confidence. Across this programrne we dellvered 506 events resulting in 3731 attendances. We facilitated nine large scale student-led events. Far those first years who wanted bit more support we delivered our 8uddy programme. Overall we have increased the proportion of students who agree that the SU offers a wide range of sports, clubs and socleties they can get Involved in from 80D/o to 85%. 3. Skllls development for life We promote skills development and recognltion for student volunteers and stsff, ensurlng they feel confident and competent in their roles. This year we worked directly with 22 Sports and Societies Executive5 to improve the expertence of club and society membership . We also delivered course rep training to 225 course reps and convenors and delivered a comprehensive programme of training to our student officer team. We also provided social and informal events attended by 126 reps. Durlng this perlod we employed 635 student staff providing them both wlth pald ¥York and work experlence that will benefit them In their future career. We Increased the proportion of student who feel they have gained ski115 by getting involved with the SU from 480/0 to 66Wtt and increased awareness of part-time work from 790k to 850/0. We have also supported our management teèm and management grDUP to develop thelr skills and knowledge through providing the Koreo leade￿hIp programme and ILM accredited management tralnlng, whilst Linked In learning was provided to all staff. 4. Disabled persons We actively encourage the particlpation of disabled persons In all aspects of the Union's activltles, gulded by dedicated part-time Offlcer roles for vlsible and non-visible disabilities. Full and fair conslderation is given to all applications for employment, havlng particular regard to thelr partlcular aptitudes and abilities and ongoing 5LSPPOrt 15 provided for relevant training, career development and opportunities for promotion. 5. Employee Informatlon Ernployees are kept informed of developments on matters of concern including policy developments and the financial posltion of the Union through regular briefings and engagement with an employee forum which represents views of colleagues and provides an opportunlty for feedback and dtscussion. During the year attlons to address the challenging financial position resulted in a formal process where empltsyees put as risk of redundancy were informed and consulted as to changes in roles. Finarhclal Revlew and results for the period of the Group The financial statements for the period ended 31 July 2023 have been prepared on a consolidated basis. The companles concerned are Student5. Union Services (East Anglia) Limited and Waterfront - Student Union Service5 Limited. These companie5 undertake activities, which for commercial reasons, are more appropriately channeled thmugh trading companies rather than being undertaken directly by the Unlon. The Union emerged fmm the pandemic wlth Its flnanclal position underpinned by a combination of Covid support measures and long-term fundlng from Bank and University loans to be serviced over 10 years. Alongside a strong net Income on unrestritted funds in the year to July 2022 this substantially strengthened the reserves position going into the current year. However the year to July 2023 was widely expected to be a challenging period, with cost of living and inflationary pressures impacted both the cost base and the purchasing power of members for the venues operation. This is exactly what 12

bk￿of Annual Report and Accounts for Ihe year ended 31st July 2023 transpired, with bar incomes down around 20% on the previous year as student behaviours and spending power changed. Total Net Income on Unrestricted Funds was £6,367,000, a reduction of £1,072,000 on the 2021122 year, reflecting a reduction in Income from Tradlng Operations of £1,060,000 IfrDm £5,445.000 to £4,385,000). Thls resulted in a Net Expenditure before revaluation charge5 on Pensions Schernes of £50,000 compared to Net Income of £579,000 In 2021122. With the Union still heavily dependent on income from its venues, thi5 reduction triggered a restructure exercise to reduce staff cost5 and re-align roles in support of a reduced staff structure. This in addition to a wage freeze for Career staff, allowed the TThJstees to appmve a budget for 2023124 which assumes some recovery in incomes alongside a redu￿￿ staff cost whllst allowing the Ur)ion to maintaln Its eurrent operation and provision of services to mernbe￿. If, however. tradlng does not Improve. more radical change may be reqLtired to make the financlal position sustainable. Golng Concern The charity has cash resources that exceed its reserves. The trustees have a reasonable expectation that the Charity has adequate resources to continue In operational existence for the foreseeable future. They continue to believe the golng concern basis of accounting appropriate in preparing the annual flnanclal statements. The trustees have antlclpated uncertaSntSes around reduced demand in the venues alongside cost Inflation and supply issues of material and labour and sensltised the financial forecast accordingly. There remain reasonable grounds for Confiden￿ that the Charity will remain 501vent and meet all financial obligations as they fall due. Having regard to the above, the trustees belleve It appropriate to adopt the going concern basis of accounting in preparing the financial statements. Reserves pollcy The Union's reserves policy was adopted by the Trustee Board to ensure the level held Is consistent with good practice and appropriate for the Union's size and range of activities. The reserves policy prevlously recognlsed that a substantial amount of tash is locked up by the favourable consolidated working capital posityon, effectively guaranteeing trading liabilities. This has the consequence of restrirting funds avablable for capital investment in those trading activities that generate the 5ubstantlal share of funding for the Union's charitable purpose. The policy therefore excluded direct trading liabilities. The experience of the par)demic has been to limit this excluslon to the proceeds of adVan￿d tlcket sales which proved to be robust whilst other liabilities required settjement. The adjustment in respert Df the value of these1Sabllities has been capped at a historically normalised level of £400,000. Long-term liabilitles such as the pension liability and loar)s repayable after one year are also excluded as these are In practlce funded from fijture Irbcome rather than current ftjnds. The reserves policy of the Union of UEA 5tudent5 group is to maintain a level of unrestrirted funds, not commltted or invested In tsnglble assets, which will enable the Union to Enstjre the SU has sufficient cash during periods of non-tr?de,' 2. Provi¢Je a buffer to weather shDrt term dips in commercial performance,. Enable the Charity to maintain a current net asset position to discharge its current Ilabllltles at all times Thls remainder should be focused on improvlng the Union's student-facing facilities. Information technology and maintaining and developing the a￿et base of the Social Enterprises in support of improved profit contrfbutions, whlch remalns a key constituent of the funding of the Unlon. 13

unlon ol Annual Report and Accounts for the year ended 31 St July 2023 Free rese￿e5 are calculated as follows- £'ooo £'ooo Unrestricted reserve5 (2,134) Add back long term penslon Ilabilities Long term loans Ilability for advanced tlckets {normallsed) NBV of tangible fixed assets excluding fixed assets from restricted funds 2,658 847 400 Less (4,271) 3,308 Free Reserves 808 The target level of free reserves has been calculated as three months salary and pensions costs for career staff, which is £481,000 at July 2023. This gives rise to a surplus of £327,000, which is reduction of £191,000 in the year. The Trustees will seek to restore reserves to the target level over a period of tlme within the budgeting process by amortlsing the surplus or deficlt over a rolllng 5 year perlod. Principle risks and uncertainties The Union's Trustee Board is responsible for the management of the risks faced by the Unlon. The board has established a Risk and Oversight sub-committee and approved a new Rlsk management policy. The CEO undertook training in risk management provided by the Institute of Risk Management. Detsiled con5ideration5 of risk are delegated to the heads of each department. Risks are identified, assessed and controls established throughout the year, with the risk register considered at each meeting. The key controls used by the charity Include.. Formal agendas for all Committee and Board activity- Terms of reference for all Committees. Comprehensive strategic planningi budgeting and manageJllent accourrting. Established organisational structure and lines of reporting. Formal written policies. Clear accountability an(1 budgetary control over expenditure. Risk Management Policy Health and Safety Policy Established a new Risk and Oversight Cornmlttee Through the risk management processes established for the Union, the Union's Trustee Board Is satisfied that the major risks identified and reported by the Chief Executive Officer have been adequately mitigated where necessary. It 15 recognized that Systems can only provide reasonable but not absolute assuran￿ that major risks have been adequately managed. The major rlsks Identlfied are as follow5: Cost of Llvlng Crisis and economlc sltuatlon Financial inability to raise revenues due to irnpact on student and wider community incomes and impact of inflatlon and energy crisis on costs. The impact of cost-of living pressures on students has led to a reduced demand Sn the Unlon Venues and this will result in rettU￿d Incorne going forward. Union management has been tasked with identifying new commercial opportunitles alongside a reduced cost base to ensure continuing financial sustainability for the organization. staffing - loss of working capacity due to staff seeking better paid roles With the Unlon unable to match market wage increases 14

unlon of Annual Report and Accounts for the year ended 31st July 2023 Legi51atlve - Governmental changes in funding for higher education and the role of Students Unlons. Strong relationships are nurtured within the University with a view to reinforcing the role of the SU and its actbvlties. Officers and staff attend commlttees and meetings With key University stsff to lobby for students and influence decision maklng The Officers and CEO meet frequently with the Vlce Chancellor and other senior universlty stsff ralslng key concerns for students. Key Union personnel maintain relationshlps with senior managers in other Unions attend conferences and events to remain abreast of sertor changes and the Union plays a lead role in Southern Su's Subscribed to WONKE, a HE policy advice and training service for staff and officers CEO attends regular NUS and Southern SU CEO events CEO attending UEA emergency Silver and Operational Management groups Governance - engaging the IHJard and svpportlng trustees. Student Unlon board have a high turnover and a low average age. Ensure that newly recruited external trustee meet the skSlls gap requlred by the board Reviewed and improved agenda structure to engage board on key issues Trustee training available to all new trustees Chair training for chair of the board and sub-committees Chair of board has regular updates with lay student trustees and external twstees Developed a legal compliance checklist to ensure all legislation considered and identify skills gaps Operatlons Licensing issues If bars and venues fail to hold or cornply wlth appropriate licensifig arrangements. strengthened Management strurture with Head of Venues reporting to Assistant Director of Venues appointed to improve general operational management and drive Health & Safety processes Events Safety training undertaken by all events staff and senior bar staff. Undertook unconscious bias training for the security team Regular meetings are held with local police, licenslng authDrities and University personal to maintain licensing objectives and improve campus safety Licensing police train security and student bar staff All staff undertake licensing and Good Night Out tralnlng Key Management Personnel These are persons having authorfty and responslbility for planning. directing and controlling the activities of the entity, dirertly or indlrettly, Including arly director. In this year the management commlttee of the Union consisted of the five elected sabbatical Offi￿r5 and the Senior Management team. The elected officer5 are remunerated at a level that allows them to meet CQSts of livin9 during their sabbatical year and as such are on a fixed salary point. which is uprated for inflation each year. The Senlor Managers are defined as Senior Post-holder5 in a dedicated policy approved by the Board. The Senior Management team consisted of Chief Executive, Dlrettor nf HR and Support Services, and Asslstant Director5 Df Venues, Charity Services and Finance. Future Plans In the second half of this year we have been working to understand the prioritie5 of Students in order to shape our new three year strategy for 2022-2025. We have worked with an external provider to survey students about what they think we should be working on for them and what they currently think of our services. Thls data was then reviewed by OLbr Board and senigr management to shape our Strategic plan. The Union is engaglng with the University to agree a Memorandum of Understandlng to formallse various a5petts of the funding arrangernent, including the provision of seNices. to ensure that responsibilities are clear and opportunities identified where It Is possible to Y4ork effectively in partnership on matters of mutual interest. Is

Annual Report and Accounts for the year ended 31 sl July 2023 This Annual Report, under the Charitie5 Act 2011. and the Companies Act 2006, was approved by the Board of TrLfStees,' including in their capacity as company directors approving the strategic report contained therein and 15 signed as authorised on its behaw by Taylor Sounes - Chalr dated 22 April 2024 16

unbm of Annual Report and Accounls for the year ended 31 sl July 2023 INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF THE UNION OF UEA STUDENTS LIMITED Opinion We have audited the financial statements of The Union of UEA Students Limited for the year ended 31 July 2023 which comprise the Consolidated Statement of Financial Activities, the Cor)solidated and Company Balance Sheets. the Consolidated Cash Flow Statement and the related notes. The financial reporting framework thal 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 (United Kingdom Generally A¢¢epted A¢¢ounting PraCt￿e1- In our opinion the fi'narncial statements". give a true and fair view of the state of the group'8 and the charitable ¢omp2ny's affairs as at 31 July 2023 and of the group's deficit for the year then ended-, have been properly prepared in accordance wrf(h United Kingdom Generally Accepted Accounting Pra¢Uce.' and have been prepared in 8¢¢ordance with the requirements of the Companies Act 2006. Basis for opinion We conducted our audit in accordance with Intemational Standards on Auditing {UKI IISAS IUWI and applicable law. Our responsibilities under those Standards are further described in the Auditor's responsibilitie5 for the audit of the financial statements section of our report. We are independent of the group in accordance with the ethical requirements that are relevant lo our audit of the financial statements in the UK including the FRC'S Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance wrth these requirements. We believe that the audit evidence we have obtsined is suff￿lent and approptiate to provide a basis for our opinion. Conclusions relatlng to golng concern We have nothing to report in respect of the following matters in relation to which the ISAS (UK) require us to report to you where.. The Trustees, use of the going concem basis of accounting in the preparation of the financial staternenls is not appropriate.. or The Trustees have nut disclosed in the financial statements any identified material uncertaintie5 that may cast significant doubt about the group's 01 the Charitable Company's ability to continue tr) adopt the going concem basi5 of accounting for a period of at least twelve months from the date when th8 financial ststements are authorised for issue. 17

Annual Report and Accounts for the year ended 31 sl July 2023 INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF THE UNION OF UEA STUDENTS LIMITED (CONTINUED) other Infomiation The Trustees are ￿sponsible for the other informakn"on. The other information comprise5 the inforniation included in Ihe Annual ReporL other than the financial statements and our audilorfs report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitty stated in our report, we do not express any fomi of assurance conclusion thereon. In connection wlth our audit of the financiai ststements, our responsibility is to read the other information and, in dolng $0, Consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or othe￿iSe appears to be materially misstated. If we identify such material inconsistencies or apparent material misslatemenls, we are required ta determine whether there is a material mis5talement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information. we are required to report that fact. We have nothin9 to r8POrt in this regard. Oplnlon on other rnatt&T pr￿crIbed by the Companle5 Act 2006 In our opinion based on the work undertaken in the course of our audit the information given in the Strategic Report and the Trustees, Annual Report for the financial year for which the financial statements are prepared is consistent with the financial statements., and the Trustees. Annual Report and Strategi¢ Report have been prepared in accordance with applicable legal requireThnts. Matter8 on whl¢h we are requlred to report by ex¢6ption In light of the knowledge and understanding of the group and the charitable company and rts environment obtained in the course of the audit, we have not Klentified material misstalemenls in the Strategic Report or the Trustees, Annual Report. We have nothing to report in respect of the following matters in relation to whl¢h the Companies Act 2006 quiies us lo report to you il, in our opinion.. adequate accounllng records have not been kept.. or the financial statements are not in agreement with the accounting records and retums,. or certain disclosures of Trustees. remuneration specified by law are not made,. or we have not received all the inforrnation and explanations we require for our audit. Responslblllties of the Trustee5 As explained rn0￿ fully in the Trustees, Responsibilities Statement set out on page 24, the Twstees are responsible for the preparation of the financial statement5 and for being satisfied that they give a true and fair view, and for such intemal control as the Trustees cletermine is necessary to enable the preparation of financial slalements that are free from material misstatement. whether due lo fraud or error. 18

Annual Report and Accounts for the year ended 31 st July 2023 INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF THE UNION OF UEA STUDENTS LIMITED (CONTINUED) Responsibilities of tha TTUStB05 (continued) In preparing the financial statements, the Trustees are responsible for assessing the group's or the charitable company's ability to continue as a going ￿ncern, disclosing, as applicable, matters related to going concem and using the going ¢on¢ern basis of accounting unless the Trustees either intend to liquidate the Charitable Company or to cease operats'ons, or have no realistic alternative but to do so. Audltor'8 re6pon$lblllti¢$ for the audit of the financial ststements Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstslement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assuran￿ is a high level of assurance, bul is not a guarantee that an audit Conducted in ac¢ordance with ISAS {UKI will a￿ayS detect a material misstatement when il exists. Misstatements can arise from fraud or error and are Considered material if, individually or in the agg￿gate, they could reasonably be expected lo influenTr the economic decisions of users taken on the basis of these financial statements. Extsnt to whlch the audlt wag consldèred capable ol datectlng Irregularltl8s, Including fraud Irregularities, including fraud, are Instances of non-tsompliance with laws and regulations. We identified and assessed the risks of material mis5tsternenl of the financial statements from irregularilie5, whether due to fraud or error. and discussed these between our audit team members. We then designed and performed audit procedures responsive to those risks, including obtaining audrt eviden￿ sufficient and appropriate to provide a basis for our opinion. We obtained an understanding of the legal and regulatory frameworks within which the charity operates, focusing on those laws and regulations that have a direct effect on the determination of material amounts and disclosures in the financial statements. The laws and regulations we considered in this context were the Companies Act 2006, Charities Act 2011 together with the Charities SORP IFRS 1021. We assessed the required compliance these laws and regulations as part of our audit procedures on the related financial statement items. In addition, we Considered provisions of other laws and regulations that do not have a direct effect on the fi'nancial statements bul compliance with which might be fundamental lo the charity's ability to operate OT lo avoid a material penalty- We also considered the opportunities and incentives that may exist within the charity for fraud. The laws and regulations we considered in this context for the charity were Health and Safety, Safeguarding, Charity Commission regulations and General Data Protection Regulation (GDPRI. Auditing standards limit the required audit pr￿edureS lo identify non-compliance with these laws and regulations to enquiry of the Trustees and other management and inspection of regulatory and18gal correspondence. if any. We identified the greatest risk of material impact on the financial statements from irregularities, including Fraud and the override of controls by management. Our audit procedures to respond to this risk included enquiries of management about their own identification and assessment of the risks of irregularities, sample le5ting on the posting ofjournals, reviewing accounting esbmates for biases, reviewing regulatory correspondence with the Charity Commission and reading minutes of meetings of those charged with govemance. Our audit procedures to respond to revenLJe recognition risks include 19

Uea[,!lt\ ][union of ] � uea students

Annual Report and Accounts for the year ended 31[st ] July 2023 INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF THE UNION OF UEA STUDENTS LIMITED (CONTINUED)

testing a sample of income across the year to supporting documentation, and reviewing income received either side of the year end to ensure this has been recognised correctly.

Owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements, even though we have properly planned and performed our audit in accordance with auditing standards. We are not responsible for preventing non­ compliance and cannot be expected to detect non-compliance with all laws and regulations. These inherent limitations are particularly significant in the case of misstatement resulting from fraud as this may involve sophisticated schemes designed to avoid detection, including deliberate failure to record transactions, collusion or the provision of intentional misrepresentations.

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

Use of our report

This report is made solely to the Charitable Company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the Charitable Company's members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Charitable Company and the Company's members as a body, for our audit work, for this report, or for the opinions we have formed.

Janette Joyce

Senior Statutory Auditor For and on behalf of

Crowe U.K. LLP

Statutory Auditor

Reading

Date: 22 April 2024

20

Annual Report and Accounts for the year ended 37￿ July 2023 Con&olldated Statement ol FlnancTal Actlvltles for the year ended 31 July 2023 2023 Restricted Building projects 2022 Year endEd 31 July Unrestricted Funds Restricted Funds other Total Funds Notes £'ocKJ £'ooo £'ooo £'ooo É'ooo Zncome and Endowments from: Donations University Grants Provisitsft of accommodation Compensation for transferred businesses other funding frotn University 898 447 494 898 447 494 880 438 494 72 72 109 Ch6rit6ble activities fvr studcnts Contributions from Club & Society mernbers 737 737 717 Commercial troding operations Income from Govt. support schemes and Insurance clairFFS Other oper47tsry income 4,385 4,385 5,445 71 71 39 T¢)tal Income 6,367 737 7,104 8,156 endlture on Resources Charltsble actlvitles for students (1,652) (1,652} {1,442) Club & s(Klety expenses Expenditure against grants Cotnmercial Trading Operatlons {775) (i) {775) {326) (4,763) 1729} 13211 (5,418) (3251 415 (4.763) Total Expendlture (6,415) {325) {776) (7,516) {7,910} lInC￿Se} /DeC￿Se in Pension deficit 12911 (2911 403 Net irtcome / (Expenditure) (339) (325J (39) (703) 649 Funds brought forward at 31 July 20221 (20211 (1.793) 3,686 376 2,269 1,62D Fund b?lan¢e$ at 31 ￿ly 2023 12022 (2,132) 3,361 337 1,566 2.269 The statement of flnanclal artlvlles Includes all galns and losses recognised in the year. Ml Incoming resources and resources expended dedve from contlnuing activlties 21

Annual Report and Accounts for the year ended 31st July 2023 Union and ConsolldatÈd Balan¢t Shoét as at 31 July 2023 Company No. 09664303 roup Unlon 2023 2023 2022 2022 £'ooo £'ooo £'ooo £'ooo FIXED ASSETS.. Tangible assets Investments 16 13 4,271 4,683 3,339 525 3,661 750 4.271 4.683 3.864 4,411 CURRENT ASSETS Stocks Debtors Cash at bank and In hand 17 18 64 230 1,965 65 278 2,065 1,476 328 1,853 134 2,259 2,408 1,804 1,987 CURRENT LIABILITIES Amounts falllng due within one year 19 {1,4601 (1.340) 17321 {9611 NET CURRENT ASSETS 799 1,068 1,072 1,026 TOTAL ASSETS LESS CURRENT LIABILrrIES 5,070 5,751 4,937 5,437 LIABILTfiES FALLING DUE AFTER MORE THAN OP4E YEAR Bank Loans Loans from Unlverstty VUEAS Pension deficlt SUSS Penslon denclt 20 20 20 20 (IS8) (659) (441 {2,6141 (227) (6591 (221 (2,5741 (1881 (659) (441 (2,6141 (2271 16591 {221 (2,5741 TOTAL NET ASSErs 1,566 2,269 1,431 1,955 RESTRICTED FUNDS Club and Soclety Funds 21 312 350 312 350 Other Grant fundlng CaP￿al Projects funded by Grant 25 3,361 26 3,686 25 3,361 26 3,686 UNRESTRICTED FUNDS Accumulated Funds (2,132) (1.793) (2.267) {2,107) 1,566 2,269 1,431 1,955 The deficlt for the financlal year dealt wlth In the accounts of the parent company wa5 £{524,000) {2022'. £718,000 surplus). Approved by the Trustee Board on behalf Df the Union of UEA Students on 22 Aprll 2024 and 51 their be by Taylor Soune5 Offi￿r and Chalr of Trustee Board athan Wyatt Offi￿r Chalr of Finance Commlttee 22

lon Annual Report and Accounls for the year ended 31 st July 2023 ConsolTdated Cash Flow Statement Year ended Year ended 31.7.23 31.7.22 £'ooo É'ooo Net Cash Flow from operating activitles 27 589 Returns on investments and servicing of frnan 149) 212 Capital Expenditure 178) (711 {De¢rease) I Increase In cash In the perlod (ioo) 730 Re¢ontiliation of net cash flow to movemert In net funds (Dec￿aSe) / Int￿aSe in cash in the period Decrease / (In¢￿aSe) in Bank LDans In perlod (ioo) 49 730 53 Net funds at 31 July 20221131 l¢Jly 20211 1.773 990 Net Funds at 31 July 2023 1131 July 2022) 1,722 1.773 23

wiloTrof Annual Report and Accounts for the year ended 31st July 2023 Notes to the eonsolidated t05h flow statement Year ended 31.7.23 Year ended 31.7.22 Note A Reconclllatlon of operating profit ts net cash inflow from operating artlvltles £'ooo E'ooo Totsl net Income I lexpendlturel on ordlnary activitles Interest recelved 17051 649 Net Income l (Expendlture} {705) 649 Add back depreciatlon charges Loss on dlsrKJsal Df Flxed assets (Increase) / Decrease In stctks Decrease In debtors Increase / (Decrease) In cred5tors Increase / (Decrease} In long term Ilabllitles 490 532 {iii 214 11801 (6151 48 129 62 Net cash Innow l {oufflowl from Un￿StrICted act(vlties 27 589 Note B Analysls of cash flow$ for héadings nètted in the cJ$h flow st*ement £'ooo É'ooo Returns on Investments and servicing of finance Bank Loans acqulred Bank Loans repaid Loans from Universlty Interest re￿iVed {49) {53} 265 Net Cash Inflow on investments and servicing of financÈ (491 212 Capltal expendlture Purchase of tangible fixed assets - unrestdcted funds Purchase of tangible fixed assets - restiitted funds 1781 (711 Net cash outtlow tor capital expenditure 1781 (71) Note C Analysls of thanges In net funds 1.8.22 £'ooo Cash Flow £'ooo 31.7.23 £'ooo Nét Cash Bank Loans 2,065 (292) (loo} 49 1,965 (243) Totsl 1,773 (51) 1,722 Analysed In balan￿ sheet Cash at bank and ift hand credito￿ wlthln l year Credltor5 falllng due after more than L year 2,065 1651 1227} 1,965 {551 (1881 1.773 1,722 24

)kffi of Annual Report and Accounts for the year ended 315t July 2023 Notes to the Actounts - Aecountln9 poIIciès Charity InfomJatioTh The prlncipal activlties of the Union are campalgnlng, representation, pmvi5ion of soclal actlvlties and the organlsation of recreational activities and opportunltles. It Is a Public Benefit Entity. The Unlon of UEA Students Llmlted Is an Incorporated charity {limited by 9uaranLee}. The charity regi5tratioTr number15 11162866. It is Incorporated and domlclled in the UK. The company reglstration number is 09664303. The address of the princlpal offlce is Unlon House. University of East Anglla, Nonmich. Norfolk, NR4 7rJ. Notes to the Accounts Accountlng Conventlon The financial 5tstemenb hav¢ been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Prathce applicable t() charities preparlng their accounts in accordance with the Financial Reporting standard appllcable In the UK and Republic of Ireland (FRS 102) leffeciive l January 20191 CharitSes SORP, the Flnanclal Reportlng Standard applicable in the UK and kepubllc of I￿land {FRS 102). The Unlon meets the deflnltlon of a public bendtt en￿tY under FRS 102. Assets and Ilabllltles are ￿nI￿allY ￿COgnized at historlcal cost or transactlon value unle55 Otherwise stated In the relevant accountlng pollcy note{sl. Recognilion of Income All income from SpEclflc Donations, Grants, Contracts and Other Services Rendered Is Included In the SOFA on an accrua15 ba515. All Income frorn 5hort-term deposlts Is C￿￿lted to the Income and Expenditure Account on a recelvable basls Revenue In respect of tid(et sales re￿IVed on behalf of 3rd party promoters and then remitted to them is not recognised as Income or expenditure in the comrnercial trading operations. Income Is recoonlsed for charges made to the promoter for the use of the pretni5es to Stage the event. Resources Expended and Uabllltles Incurred Expenditure is recognised on an accruals basls as a Ilabllity is incurred. Expenditure Includes any Irrecoverable VAT. Charltable expenditure comprises the dI￿t and Indlrect costs of delivering public benefit. Governan￿ costs are those incurred for tompliance wlth constituvonal and statutDry requirements such a5 the annual audlt, annual electlons and training for sabbatlcal offlcers. Central overhead cost5 are apportioned to charitable ancs other actlvltles pro rata to the full-time staff equlvalents in eath department. Golng coneern The charity has cash resources that exceed its reserves. The trustees have a reasonable expectation that the Charity has adequate resources to contiriue In operational existence for the foreseeable future. They contlnue to believe the going concern basis of accounting appropriate In preparing the annual financial statements. The Chartty emerged from the Covid crisls wlth a considerable increase in long-terrn debt whlch wlll have relatively modest repayment requirements in the next 4 years.. The cost of Living crisis has Impacted the spending power of customers in our venues and trustees have anticipated un￿rtaintieS around sales and cost Inflation, and sen51tised the financlal forecast accordingly. There remain reasonable grDunds for confidence that the Charity wlll remain solvent and meet all financial obligations as they fall due. Having regard to the above. the trustees believe it appropriate to adopt the golng concern basis of accounting in preparing the finallcial 5tatement5. 25

Annual Report and Accounts for the year ended 31sl July 2023 Notes to the Accounts- Accountlng politits. tontlnued Penslon Scheme5 The Unlon of UEA Students participates In the Student Union Super6Ftrnuation Scheme ISUSSI, a multi-employer defined beneflt penslon scheme whose membershlp conslsts of employee5 Of student5. unlons and related bodies throughout the country. The Charity is therefore exposed to attuarial risk5 associated with other employers, employees and Is unable to identify its share of the underlying assets and liabilities of the schemes on a conslstent and reasDn3ble basis. As wuired by Section 28 of FRS 102"Employee benefits- the Charlty therefo accounts for the schemes as if they wholly deflned contribution 5cheFres. As a result, the amount charyed to the profit and Ios5 account represents the contrfbutlons payable to the scheme. Since the Charlty has ente￿ into an agreement (the Recovery Plan) that determlne how each employer kvithin the schemes wlll fund the overall deficit, the Charity recognises a liability for the contrlbutlons payable that arise from the agreement (to the extent that they relate to the deficit) with related expenses belng ￿0￿nIsed through the profit and 1055 account. The Union has also partSclpatsd in the Llniversity of East Anglia Stsff Superannuation Scheme IUEASSS). Benefits in respect of setvlce accrue on a "final salary- ba51s. The valuation of the scheme date¢J 31 July 2021 provided an updated schèdule of contrlbutlons over the period to August 2028. This extension of the per￿0d Increases the liability which is included on the Balance Sheet whilst tTraintalnlng the level of contributions pald annually. Redundanty or Settlemerst Agreements Cost arising frotn redundanw or settlement agreements are recognised and chsryed in the flnanclal year at whlch the commitment was agreed with the Trustee Board and employee. Improvements to Bulldiny$ Jmprovements to bulldlngs a￿ ststed at cost. Léasèhold Property Waterfront Student Unlon Setvlces LSmlted occuples premises leastry frorn Norwich Clty Councll. The cur￿nt lease was 51gned March 2021 for a term of 6 years endlno In August 2026 Leased Assets Rentals payable under operating leèses are charged as expendlture on a straight-llne b￿15 over the peri¢Yl of the lease. Depreclatlon of Flxed Assets The Union capitallses Items with a useful life of more than one year. Capitalised equlpment Is stated at C05t and depreciated over Its expected useful Ilfe, as follows.. ew Building Pmperty Irnprovements - Union House, SUS (EA) Ltd Property Improvements - Waterfront SUS Ltd Motor Vehicles Fixtures, FIt￿ng$ and Equipment Computers and J.T. 2% stralght Ilne 5 - 10% straight line 20% straight Ilne 25% straight line 10 - 25% stralght Ilne 25¥0 straight Ilne The cost of new building works represents an extenslon to the flotsr area of Unlon House, whlch Is occupied under an agreement wlth the University of East Anglla. The rate of 2% for the depreciation of the new butlding work is deemed approprlate by the trustees, In accordan￿ wlth the anticipated period of tenure being at least 50 years. Assets under the course of construction are nDt depreclated until the a55et is In v5e. Investmenls Investments are Included in the B6lance Sheet at their m*. less provision for ImpaSm)ent. In 2015, Student Union Services (East Anglla) Limited converted £2.650.000 of original share capltal of £3,750,000 into general reserves. In actx>rdance with a pollcy of recoonlsing any impèirment in Investment value to reflect the Net asset5 Dr studerTrt Union Servicu (East Angllal Llmlted, there have been subsequent charyes to the reserves tsf £2,125,000 and the carrying value of the Investment In Student Unlon Services (East Anglia) Llmlted is therefore £525,000 at 31 July 2023. stocks and Work In Pro9rt$s The stocks are valued at the lower of QK)St and net reallsable value. Debtors Short term debtors are rlleasured at transaction prlce. less any impaiment. Credltors short term C￿dItorS are measured at the transactson prfce. 26

Unk￿ of Annual Report and Accounls for the year ended 31 st July 2023 Notos to th¢ Accounts - Accountlng poll¢les, contlnued Malnt•nan¢• of Pr•mises & Equlpment The cost of rouune corrective Maintenan￿ 15 charged to the Income and expendlture account as It is Incur￿. Taxatlon Status No provislon has been Made In these accounts for corporatlon tax on the proflts attrfbutable to the uni()n, whlch Is exempt from such taxes due to charitable status. Unrestrlcted Fund5 Representing unspent Income whlch may be used for any acb"vltylpurpose at the Trustees, Dwn discretion. Restrlrted Funds Restrict& funds have been analysed Into two categories:_ Funds made avallable In the fornis c capltsl grants for the purpose of Improvements to the Union House and the retail P￿MIseS on the Norwlch campus. The accumulated fund5 of Clubs & Societies and addib.onal non-capltal grants made for speclfic pur￿Se5. The Club and Soclety Funds The balance Is the total of the balances on the subgcripbons accounts of each of the Indlvldual dubs, 9)¢ietie5 and peer support groups. The Unlon atts as-bankerf for the clubs, societles and peer support groups, who a￿ requlred to pay all thelr income Into the Unlon's tank account and request wlthdrawals, duly authorised by the elected committee members, If they wlsh to spend the money. The Union acquires control of the funds if the club, society or peer support group ceases to have members. The trustees do not con51der that this is a purely custodlal arrangement and hence the Income and expenditure are included In the Unlon's Statement of FiF)an¢ial Artivibes. Capltal Projects funded by specific grants The5E are Shown separately frorn oper4ting a55ets. All Income Is shown under a specsfic headlng under restricted funds In the SOFA ¥vhllst the costs of these capital expenditures wlll be depredated through the restricted fund expendlture account over their esumated useful live5. Flnanclal Instruments The chartty holds only financial assets and financial 1SabilTrUes of a klnd that qualify as basic financial Instruments. Basic financlal Instruments include debtors, cash and creditors. Debtors and credlttsrs a￿ initially recognised at tran5acUon value and subsequently rnea5ured at arnortlsed cost. The pension Ilabillty Is valued at fair value with the movement pra￿SSed through the Statement of Flnanclal Actlvlties. 3. Judgments In applylng aceountlno prlneiplès and kty sources of estlmatlon uncertalnty. Preparation of the flnancial statements requires management to make judgements and estimates. The key sources of estlmatlon uncertainty that have a significant effect on the amounts recognised thE financlal statements are that of the SUSS pension scheme deficit. FRS 102 makes the dlstlnctlon between a group plan and a multl-employer scheme. A group plan con515ts of a collection of entitles under common control typically wSth a sponsorlng employer. A multl-employer stheme is a scheme for entitie5 not under wmmon control such as the Student Unlon Superannuatlon Scheme. The accounung for a multi-efflployer stheme where the employer has entered Into an agreement with the scherne that determlnes how the empl¢>yer will fund a deficit results in the ￿agnItIon of 8 Ilablllty for the contributiofjs payable that arfse from the agreement (to the extent that they relate to the deflcltl and the ￿suItIng expense lrn proflt or loss Sn accordance with section 28 of FRS 102. The Tmstees are satlsfied that SiISS meets the deflnition of a multr-employer scheme and the Charity has therefore recognised the dlscounted fair value of the contractsjal contrtbutlons under the recovery plan in existen￿ at the date of approvlng these financial statements. 27

Annual Report and Accounts for the year ended 31st July 2023 N¢tè$ to tha Atcountg. contlnued 4. Flnanclal p•rformance of thé Union The consollLYated statement of financial activitie5 includes the ￿$vIt$ of the Union's wholly owned subsldlaries, Students, Unlon Se￿ice$ (East Anglia} knmited and Waterfront student Union Servlces Llmlted. The Union has taken exemptlon from presenting its uncon5011dated profll and loss account uncler secdon 408 of Companles Act 2006. The summary nnanclal perfomance of the Union alone is.. Y•ar •nd•d 31.7.23 £'ooo Year ande 31.7.22 £'ooo Incomlng resources Unlverslty Block grant Grant for repairs and utilltles Grallt far / donatlon of accommodation Payments In respect of rransferred business INTO and Easton College fees Income from caterlng operatlons commeraal trading Income from Covld Support schemes Other operatlng income Glft ald payable from subsldiarles Other LIEA departm&ntal grants 728 170 447 494 16 739 167 438 494 20 39 iio 109 55 26 72 2,008 2,090 Contrlbutlons from Club and Society members Rent & servlce charoes fmm subsidiary companies 737 651 717 724 3,396 3,531 Expenditure on charIta￿e actlvltks Expenditure recharged tri subsidiary companies Uub and Society expenses Restricted fund expenditure against capitsl grants (Increase) IDecrease in pension deficit5 wrtte down In value of Investment (1,653) (651) (775) {326) {291) (225) {1,443) 17241 {7291 {3201 403 Net Incomlng l {Outgoiny) resource5 {525) 718 Total funds brought forward 1,955 1.237 Total fund5 canied forward 1.431 1.955 Rep￿sented by Restricted funds Unrestricted funds 3,698 12,267) 4,062 (2,107) L,431 L,955 28

unkm al Annual Report and Accounts for the year ended 31st July 2023 Notes to the A¢￿￿nts, contSnued 5. Inctsming M50urcès from actlvltles to generate funds The wholly owned subsidiary Companie5 Student5, Union Services (East Anglia) Litnited, Company No. 01524381 {SUS} and Waterfront student Union Services Limited, Comp&ny No. 02834353, IWFI a Incorporated In the Vnlted Kingcjom and pay all of their tsKable profit5 to the Unlon under glft aid. The subsidiary COM￿nIeS operate the bars, shops, live entertainment, club nights and all commercial operatlons carried on by the Vnion. The registered office of both Subsidiaries Is the same as for the Union of VEA students ￿mIted. whlch 15 Union House, University of East Anglia, Norwich, Norfolk. NR4 Ttj. The summary flnanclal perfom)ance of the subsidiary companies is.. Year ended 31.7.2023 Year ended 31.7.2021 SUS É'ooo WF £'ooo sus £'ooo WF £'ooo Turnover Cost ¢ Sales and Administrative Costs Rent and Service Charges allocated from the Union Interest receivable other in￿rne from Covld Support schemes 3.031 1,355 (2,7571 {1,356} 1582] (70) 3,904 1.541 {3,3421 11,467) (6491 (76) 116 12 Profit / (L05s) for the year {308) (71} io Srought forward 738 226 709 325 Payments under 9ift-aid to the Union {261 Iiio) Retained In subsidiary companles 430 128 738 226 The assets and liabilities of the companies were= 31 July 2023 sus WF £'ooo £'ooo 31 July 2022 sus WF £'ooo £'ooo Fixed Assets 769 161 851 169 Current A5ts 1,794 071 2,L82 710 Current Liabilities Long tertn liabilities 12,033) {702) (2,195) {652) 530 130 838 227 Aggregate share capitsl and reserves 530 130 838 227 29

Annual Report and Accounts for the year ended 31s1 July 2023 Notes to the Accounts, contlnued 6. Income from Govt. support schemès and Insurante ¢lalms - Covld-19 The Group received no further income In the form of grants, support payments and insuratsce recoveri￿ in the year to compensate for the impact of Covld-19 2022123 £'OLK) 2021122 £,￿)0 Furloligh Scheme Arts Councll England grants (Venues) Insurance recoveries Local Authority grants Other 26 Totsl 34 7. Investment fn¢ome All of the g￿up s investment income anses from money held In interest bearing deposit actounts. 8. Analy$i5 of •xpend[￿re on charltable actlvltles Year ended 31.7.23 £'ooo Year ended 31.7.22 £'ooo Reprtsentstlon & governan Employment Costs Internal democracy Postgraduate attivities ConferenTrs Subscriptions and Ilcences NUS affillavon Schools I teaching awards Campaigns other Administration Central Overhead costs 370 387 13 13 250 797 671 Student support services Employrnent costs Mi5￿11aneou5 expenses Subscription5 and liCen￿S Welfare prDjects Profe5SIDnal fees Central overhead costs 178 164 16 12 L89 114 389 292 Sports AsstKiation, Clubs and Socletles Employfflent COSts Individual clubs & socleties P05tgraduate activitles Employability other AdmlnlstratSon Central overhead costs 189 58 239 é3 210 169 468 478 Total Expendlture on charltable attivities 1,652 1,441 Governance costs Included within Representation & g0verrnan￿ costs are £32,000 (2022.. £24,000). 30

Annual Report and Accounts for the year ended 31 st July 2023 NotÈs to thé Accounts. contlnued 9. Central Overhead Costs A fixed propor￿On of administration staff costs are alli)cated to the 2 sub51dlary c(Nnpanles. A fixed proporlion of premlses staff and cleaning cost5 are allocated to Students Unlon Servi￿5 (East Angllal Ltd. This cornpany shares the premises wlth the Union. The balance of ￿ntral support costs have been allocated on the basi5 of staff employed in the relabve areas. 2023 Staff Prem15e5 Other Costs costs costs Total £'ooo £'ooo £'ooo É'ooo Representatlon Student Support Servic Sty)rts A550ciation, Clubs & S¢cieties Caterlng operations Recharged to subsldlary companies 48.8 24.2 26.9 229 IL4 126 102 51 57 49 24 27 380 189 210 216 381 55 652 685 591 155 1,431 2022 Slaff Premlses Other costs costs costs £'ooo £'ooo £'ooo Total £'ooo Represenktlon student Support Seryices Sports Assoclatlon, Clubs & Societies Caterlng operatlons Recharged to subsldlary companles 47.1 21.3 31.6 141 64 95 57 26 39 S3 24 35 251 114 169 243 407 74 724 543 529 186 1.258 10. Tolal resources expersded The total resourTrs expended includes the followlng expenses Y•ar ended 31.7.23 £'ooo Y•ar endtd 31.7.22 £'ooo Depreciation Auditors Remuneration - Corbsolidated accotjnts Subsidiary cofflpanie5 accounts Tax and other services 532 18 15 31

ueaQl- Annual Report and Accounts for the year ended 31 st July 2023 Notes to the At¢ounts. contlnued 11. Analysls of Staff Costs Year ended 31.7.23 £'ooo Year ended 31.7.2Z É'ooo fjroup Salaries and Wages Soaal Security Costs Pension Costs 2.935 172 135 2.846 171 L30 UnTDn Salarie5 and Wage5 Social Security Costs Pension Costs 1,137 78 75 984 85 79 The average number of employees in the year was 410 12022 - 492). Thls Sp1￿ between salaried staff and staff on short terni contrdcts, the majority of whom are Students who wot varylno hours according to demand avallablllty and are generally Ilmlted to 15 ho￿￿ per week. The average numbers employed acros5 the year In each ￿tegory were as follows'.- Group Union 2023 2022 2023 2Q22 Career Starr Staff on short-term contracts 70 340 72 420 35 31 38 39 Total 410 492 66 77 Durtng the year, costs of £IIO,000 were Incurred relating to redundancy and severarn￿ payments. The Unlon hès Identlfled as key management personnel the 5 fv11 time sabbaucal Office￿ and the Senior leade￿hIP team, comprtslng the Chlef Executive Offlcer. Director of HR and Shared Serv1￿$, and Assi5taTrt 01￿CtOrS of Social Enterprise, Advocacy and Flnance. During the year, due to the absence of the Chief Executlve Offi￿r, the 5enlor leadership team operated an Interlm structure with the Director of HR and Shared Services acting as Interim Chief Executive and the Asslstant Dlrector of Shared serv1￿5 as Director and Interim Deputy Ch1el Executlve Offi￿r. Joined also by the actlng Asslstsnt Director of Insight. Marketing and Communicatlons. The comblned remuneratlon, includlng payments In Ileu of notlce, employer's N.I. and pension costs, accru￿1 holiday and severa￿￿ of these key management personnel was £606,000 In the year to July 2023 (2022: £409,000) 2023 No. 2022 The nuwwjber of higher paid employees In the Unlon and the group at the end or the penod under review was.. Total emoluments band £60,001- E70,000 E70,001-É80,OOQ E80,001-É90,000 E90,001-£100,000 ElOO,001-£IIO,000 £110,001-£120.000 The aL￿ve employees were members of a defined contributlons penslon scheme and gr¢up contributions durlno the perlod were £14,59012022- £9,764) 32

Annual Report and Accounts for the year ended 315t July 2023 Notes to the Acctrunts, contlnued L2. Trustees. Remuneratlon and Expenses The full-time officers elected in March 2022 took Offi￿ from i. July 2022. Each of the 5 full-tlme officers in office for the period ISL July 2022 to 315f June 2023 re￿iVed a basic salary of E20,433 p.a. {2022: É20,4331 and particlpated In the Union's salary 5acriflce deflned contrlbution scheme. Thelr salarles are for the representation, campalgnlng and svpport work they undertake, as authorlsed by the UnSon's COnstitu￿On. The total salary costs for the full-tlme offi￿r$ wa5 £115,000 (2022.. £117,000). plu5 Cost of penslon contrlbutlons £4,000 {2022, £4,000) which includes a period of overlap betW￿n Incomlng and outgoing offlcers. Expenses for travel and accommoxjation when attending Board meetings of £523 were relmbursed to I Trustee (2022.. £203 fo 2 Trustees). 13. Investments 2023 2022 students, Unlon serv1￿$ (East Anglial Limited Waterfront student Unlon SeTvi￿s Limiteil 525,000 750,000 In accordance wlth a pollcy of recognising any impalrment In Inve5bnent value to reflect the Net assets of Student Unian Servlces {East Anglla) Umlted, the carrylng value of the Investment has been redu￿ to E525,LIOO at 31 July 2023. 14. Control The Board of Trustees is responsible for the management an¢J administration of the Union (as descrltEd In sertion 57 or the Constitution). The Trustees are appolnted and may be removed by Unlon Councll. which consists of representaUves elected by the membership. 15. PÈnslons SUSS Penslon Movements on the deficit contrlbutlon Ilablllty In Ilne with s21 of FRS 102 are as shown below. 2023 £'ooo 2022 ProvisioD as at 01 Jul Unwindin of discount Deficit contributions Remeasurements Provision as at 30 June 206 250 191 406 Tre Unlon parbopates in the Studert Union Super8nnuation Scheme, a multl-employer deflned benefit pension scheme whose membership con5i5ts of employees of students, unions and related bodles throughout the country. Beneflts In ￿SpeCt of servicE UP to 30 September 2003 are accrued for on a-llnal salary- basis, with benefit5 in respect of seThice from l October 20L13 accruln9 on a Career Average Revalu&l Earnlngs (CARE) basis. With effett from 30 September 2011 the scheme closed to future accrual. The funcl is valu￿1 at least every three years by a professionally quallfled Independent actuary with the rate of contribution payoble being determlned by the trustees on the advlce of the actuary. The employers share the actuarfal rlsks assoclatEd wlth all members of the scheme. The Union is not legally responsible for the scheme and does not have sufficient Informatlon to use defined benefit accounting. Accordingly the scheme Is acwunted for as if it is a deflned contrlbutlon scheme. The most ￿￿nt valuatlon of the Scheme was carried out as at 30 lune 2022 and showed that the market value of the Scheme's assets was £106.697,000 with these assets representlng 44% of the value of benefits that had accrued to members after allowlng fc expected future increases earnings. The deficit on an ongolng ltrnding basi5 arrv)unted to £127,640.000. The assumption5 which have the most significant effert upon the results c*f the valuation are those relatlng to the rate of ￿tUrn on investtnents the yield on government bonds. The following assumptlons applied at 30 June 2022.. Discount rate - Gilts curve + 1.50A) pa. Ilnearfy changing over a term of 13 years to gllts curve + 0.25 pa Retail price Inflatlon IRPII Merrill Lynch swap-implied Inflation cutve Consumer price Inflation 2030 ICPII API inflation les5 0.7% pa Consumer prlce Inflation post 2030 (CPLI - RPI Inflation I￿S 0.1% pa 33

Annual Report and Accounls for the year ended 315t July 2023 Note5 lo the Account$, continued Pension increase5 - A model of each Increase, allowing for Insurers. relative pricing of dlfferent caps and collars The 2022 Valuation fftcommended a monthly contribution requlrement by each Participating Employer expressed In monetsry terms Intended to dear the ongoing funding deficlt over a period of 13 years 7 mnths and will Increase by at least 5% each year Surpluses or deflclts which arise at future valua#ons will a150 impart on the Unlon's future contr(bution commitment In addltion to the above contrlbuuons, the Union also pays Its share of the Scheme's Levy to the Pension Protectlon Fund. FRSL02 and the charl￿e$ SORP {FRS102), requlre that the charltable company Sha￿ of past Servi￿ 5hortrall Is reflected in the f5nanclal statements. Based on the most re￿nt valuatlon, the charitable company contributlon to ellmlnatlng the shortFall was E206.000 for the year ended 2023 (2022.. E191.000). At 31 July 2023, the balance sheet cl the Chadtable Company Includes a Ilablllty of É2,831,00012022.. £2,781,000), which represents the net present value of all future conthbutlons towards ellminating thi5 shortfall. The disu)unt rate used 1$ 5.2% 12022.. 3.7%) whlch is comparable to that of the &nk of England Gilt Curve plus 1.5% per annum. changing over a term of 13 years + 0.25Q/o per annuffl. The estimated liability Is based on the 2022 triannual valuation of the Scheme and wlll necessarily requlre revlsion after subsequent revaluauons. In adéition. the Charitsble company pald Penslon Protettion Fund Levy of £13,470 12022.- £18,304) during the year." UEASSS Penslon The Union also partycipated In the Unlversity of East Anglla Staff Superannuatyon Scheme, (UEASSS). Benefits in spett of servi¢e accrue on a"flnal salary- basis. Under the latest triennial valuation, dated 31 July 2021, contribution5 tontinued at the prevlous rate but over an Increased period extended from 31 December 2022 to 31 Auoust 2028. At 31 July 2023, the value of the defiLTt Was E54,595 12022 - £31,000). Ttte value of the deficit has not been discounted over the perlod of repayment. The contribution rats durin9 the ended 31 July 2023 applicable to thls Union remained at 8.0% of Earnings for the employee and 27.4% of Earnlngs for the Unlon135.4% In aggregate). The contrlbutlons excludlng deficlt paid into the Scheme In ￿SpeCt of eliglble ernployees for the period ended 31 July 2023 amounted to £7,842 12022 £7.012). After the year end date, the last actlve member of the UEASSS Penslon scherne ceased to be employed by the Unlon, triggering an end to the Unlon's particiwtion in the scheme and the Issue after the Balance Sheet date of an S75 Certificate of Debt under the P¢nsigns Act L995. ThIs Increased value reflects a 'buy-out' valuation cl £353,000. However It is the Intentlon of all parties that the scheme and Univetsity will enter an apportionment arrangement whereby the liabllity will be transferred to the University as principle Ernployer and a subsequent arrangement put In place between the Union and Universlty whlch reflects a value 5imllar to that currently reflected in the Accounts. 34

Annual Report and Accounts for the year ended 31 sl July 2023 Notes to the Accounts. ¢ontinued 16. Tanglble Flxed Assets Group Ilew Prop¢rty Propertv Improve- ments Flttinos. Equlpm¢nt & l.T. £'ooo Motor Vehi¢les Totals £'ooo £'ooo £'ooo É'ooo Cost At l Avgust 2022 Additions Transfer Di5p¢xa15 1,000 7,957 32 2,545 46 11,502 78 At 31 July 2023 D¢pre¢iation At l August 2022 Charge for the year Tr6nsfer Elitninated OFI disposal 360 20 4,228 357 2,231 113 6,819 490 At 31 July 2023 380 Net Book Value At 31 July 2023 620 247 At 31 July 2022 640 314 Unlon Propetty Improve- ments £'ooo Fitting$, Equlpment & l.T. E'OOO Motor Vehl¢les Totals £'ooo £'ooo Cost At l August 2022 Additions Transfer Dlswsals 5,462 881 17 6,343 17 At 31 July 2023 898 Depreclatlon At L August 2022 Charge for the year Transfer Ellmlnated on dlswsal 1,971 278 711 61 2,682 339 At 31 July 2023 772 Book VaTue At 31 July 2023 126 At 31 July 2022 170 35

unkn of Annual Report and Accounts for the year ended 31st July 2023 Notes to the Accounts contlnu 17. Stocks Group Union 31.7.22 £'ooo 31.7.23 £'ODO 31.7.22 £'ooo 31.7.23 £'ODO Goods for resale 64 65 18. Debtors: Amounts falllng due wlthln on y•ar Group Unlon 31.7.22 É'ooo 31.7.23 £'ooD 31.7.22 £'ooo 31.7.23 £'ooo Trade debtors Amount5 due froim group undertaklngs Prepayments and Accrued Income 98 84 56 1,397 23 68 1,747 38 132 194 230 276 1,476 1,853 19. Credltors: Amounts falllng due within one year Group Union 31.7.22 31.7.23 31.7.22 31.7.23 £'ooo £'ooo £'ooo £'ooo Trade Credltors VAT Taxe5 and Soclal Security Costs Bank Loans Accruals and Defe￿e￿ Income Penslon Deflcit contrTrbutions Amounts owed to group undertakings 64 78 95 55 185 115 12 65 745 218 19 78 95 55 182 227 76 106 115 12 65 227 218 277 1,460 1,340 732 961 Deferred Income ￿preSentS ticket sales for events Sn the nlghtclubs and venues paid for in advance prior to the year end and income re￿iVed in a￿Varn￿ from 5tallholders and sponsors in rE5pect of Welcome Week. Group 31.7.22 Released In year Addltlons In year 31.7.23 £'ooo £'ooo £'ooo £'ooo Net advanced tickets sales for future events Income and outyet voucher5 for Welcome week 492 14 (492) (5) 685 685 Total Deferred Income 506 (497) 685 694 36

unlon of Annual Report and Accounts for the year ended 3151 July 2023 Note$ to the Accountsi contlnued Dèferred In￿me Unlon 31.7.22 Released In year Addltlon5 In year 31.7.23 £'ooo £'ooo £'ooo Income for Welcome week (i) 20. Crndltors: Amounts lalling due after one year Group Unlon 31.7.22 £"ooo 31.7.23 É'ooo 31.7.22 £'ooo 31.7.23 £'ooo Bank Loans Loons from university SUSS Pension Deficft UEASSS pension Deficit 188 659 2,614 227 659 2,574 22 188 659 2,614 44 227 659 2,574 3,505 3.482 3,505 3.482 Bank Lr)ans represent CBIL loans tsken out In June 2021 and payable over 6 years. Group Union 31.7.22 £'ooo 31.7.23 £'ooo 31.7.22 £'ooo 31.7.23 £'ooo Bank Loan ageing Due wlthin one year Within two to five Yea￿ incluslve Greater than five year5 55 188 49 242 55 IB8 49 242 243 291 243 291 Bank Loans represent CBIL loans taken ¢ut lfl June 2021 and payaL71e over 6 years. Interest charges were met by the Government for the flrst 12 months. A debenture is held in the name of Union of UFA Student5 Limited, Incorporating a fixed and floatlng charge over the assets of the company, Includlng a cmss company guarantee between the Unlon of UEA Students Llmited, Waterfront-student Unlon Servitts ￿Mited and Students, Unlon Services (East Anglia) Llmlted., The liability for SUSS is payable In Increasing Instalments over 13 years. The liability Is discounted at a factor of 5.2% p.a. {2022.. 3.7%) 37

Annual Report and Accounts for the year ended 31 st July 2023 Notes to the Accounts, contlnued 21. Analysts of charltable funds Analysls ol movements In unrestrfet•d funds of the Vnlon UNION Balance 1.8.22 £'ooo Incomlng resources Resour eXt￿n(led £'ooo Funds at 31.7.23 £'ooo E'OOO Current year movements on ordlnary activities (2,106) 2,659 (2,5291 (1,9761 Movement on long term penslons deffcit 12911 1291) Current year movement on Fund (2,106) 2,659 (2,820} (l267) Analys15 of movements In unrestrirted funds of the Group GROUP Balan 1.8.22 £'ooo Incoming resc*ur Resour￿5 expended E'OOO Funds at 31.7.23 £'ooo É'ooo Current year movements on ordinary artivlti {1,793) 6.367 { 6,4171 (1,8411 Movement on long temi pensions deficit 12911 {291) Curr•nt y•ar movem•nt on Fund (1,793) 6,367 (6,708) (2.132) Analysls of mo¥ements In restrlcted funds of Group- ¢urr¢nt year Balance L.8.22 £'ooo Incoming resources Resources expended É'ooo Funds 31.7.23 £'ooo E'O(10 Clubs and Societies Fund5 350 737 (7751 312 Capltal assets funded by 5peEific grants Union House refvrbishment Other assets funded by specific grants 3.686 26 13251 (i) 3,361 25 4,062 737 {I,ioi) 3,698 Analys1$ of m¢Jvements In re5trlcted lunds of Grtsup - prior year Balance 1.8.21 E'OOO Incomlng resources Resources expended E'OOO Funds 31.7.22 £'O(M) £'ooo Clubs and Societies Fund5 362 717 { 729) 350 Capltsl assets fundEd by Specific grants Union House refurbishrnent Other assets funded by speciflc grants 4,01)6 27 (320) (i) 3,686 26 4,395 717 (1,050) 4,062 38

Annual Report and Accounts for the year ended 31 st July 2023 Notes to the Accounts. ¢ontinu*d The aubs and soC￿tY funds tan only be expended by the elected committee tsf the club or soclety for the benent of the metnbers of that club or soclety In accordance wlth the club or society alms. Assets funded by capltsl grants are matched agaln5t specific non-dlsoEtlonary fundlng and not available for general expendItu￿. As these assets are for long-term use. they are recorded as ffxed assets In the balance sheet and the resources expended represents the depreciation charye to the SOFA in the period. 22 Net Assets of the Funds The Net assets of the UNION at 31.7.23 belong to the various funds as follows Flxèd Assets Investments Net Current Assets £'ooo Long Term Llabllltlas £'ooo Funds Balanre £'ooo £'ooo É'ooo Club and Soclety Funds 312 312 Capital ￿Sets Funded by 5peclflc grarTrts 3,308 53 3,361 other assets funded by speciflc grants 25 25 Genet71 funds 31 525 682 (3,5061 (2,267) Unlon 3,339 525 1,072 {3,506) 1,431 The Net assets or the GROUP at 31.7.2023 belong to the variou5 funds as follows Fixed As$ets Inve5tment5 Net Current Assets £'ooo Long Term Llabllltles £'ooo Funds Balance É'ooo £'ooo £'ooo rted unds Club and Soclety Funds 312 312 CapStal Assets Funded by speofic grants 3,308 53 3,361 Other assets funded by specific grants 25 25 un￿strIrted fun General funds 963 409 13,5061 (2,1341 Group 4.271 799 (3,506) 1,$66 39

of Annual Report and Accounts for the year ended 31st July 2023 Notes to the Accounts, contlnued 23. Leasing Commitment$ At 31 July 2023. the Union and its subsidbary companles had futu￿ minlmum lease payments under non- cancellable operatlng leases as detailed below'.- 31.7.23 £'ooo 31.7.22 É'ooo other operdtlng asset5 Due within one year Within iwo to five years Incluslve 76 150 77 293 Waterfront student Unlon Services Limited (￿tupIe5 premises leasexl from Notwlch Clty Councll. The current lease was signed In March 2021 for a term of 6 years ending in August 2026. Rent pald under the lease In the year was £72,000. 24. Capltal Commltments student5 Unlon ServI￿s {EAI Ltd is investing in a new box offlce system wlth an expected Implementavon In the new year. The remalning capital costs of this ￿0Jett are expected to be £14,(KlO. 25. Related Party Transartions and V￿lMate Controlllrbg Party The Unlon of UEA Students owns IOOqb of the i55ued Share capitsl of Students unton Services (East Anglia) mited, company no. 01524381 and Waterfront - Students Union Services Limited. thmpany no. 02834353. which are companies incorporated in England & Wales. Durfng the year. the Union entered Into the following tran5actlon5=_ Student Unlon Servlces Waterfront 2023 £'ooo 2022 E'ooo 2023 £'ooo 2022 £,￿0 Provision of staff Management charyes Rent on Union House and retail unit Covenanted payment In respett of taxable pmflts 1.412 257 325 1.451 321 325 54Q 69 549 78 26 The ultlmate controllln9 party of the Union is its Trustee Board. The directors of the sub51dlary companles are 8150 directors of the Unlon and m￿nbets of the Trustee &)ard. The Union and its tr3dlng subsldlary, Student Unlon serv1￿5 (East Anglial Llmlted engages in a number of transartlons wlth the University of East Anglia. In addltion to the block grant of £898.000 the University provided additlonal grants and funding for Joint initiatives and clubs & ￿Fety grants of £93,00012L122, £97,000). Under the funding arrangement an additsgnal grant of £474,0(M) was pald In compensation for the tftnsfer of the Unlon's retall and catering operations. The Unlon owes the University £394,000 in respect of unpald rent on Unlon House during the first Covid-19 lockdown and a further loan of £265,000 rElating to ongoing fundln9 needs. Both Loans are held as long-term Ilabllities on the Balance Sheet. The Unlon pald rent on the use of Union Mouse of £446,000 (2023. £438,000). ¥Yhich was fun(led by a corresponding grant payment. In addition the Vnion pald £144,000 for utiiitles (2022, £89,000), £1,000 for repalrs and malntenance 12022, £3,000), E6,000 for rr equipment and Ilcences (2022, £25,0001, £2,000 in relatlon to capltal expenditure (2022, £38,ODO) and £6,000 for use of other ￿mp￿S servlces and tscilitses12022, £7,000}. In addltlon, the unl1￿ made deficit contributions into the UEASSS pension scheme of £11,000 12022, £ii,0001. 40

Annual Report and Accounts for the year ended 31$1 July 2023 Notes to thé Accounts. continued The Unlon and Its subsldlary, Students Unlons Servlces (EA) limtted, made sales relating to venues and security serviTrs of £14,000 to the Unlverslty (2022, £1,000) 26. Afftllatlons The Union, on behalf of the generallty of the students. Is currently affiliated to. and paid affiliab.on fees during the year to, the followlng extemal organl&itlons.' £'OOOs Adwce UK National Union of Students 13 27. Flnanclal Instruments. 31.7.23 £'ooo 31.7.22 £'ooo Group Flnancial assets measured at amortlsed cost Flnancial liabilities measured at amortlsed cost Flnancial assets measured at falr value Flnancial liabilitles measured at falr value 2,063 11,099) 2,149 1942) 13,018) (3,858) The group's Income. expense. oains and losses In respect of financial instruments are summarised below.. 31.7.23 £'ooo 31.7.22 £'ooo Xnterest Income and expense Total Inte￿5t Income for financial assets held at amLYtised cost 31.7.23 £'ooo 31.7.22 £'ooo Unlon Flnanclal asset5 measured at amortised cost Flnanclal Ilabllltles measured at amortIs￿ cost Financlal asset5 measured at fair value Flnanclal Ilabllltles measured èt fair value 1,781 (372) 525 13,018) 201 12,148) 750 13,743) The Unlon's Income, expense, gains and losses in ￿peCt or rinancial instruments are summarlsed below: 31.7.23 £'ooo 31.7.22 £'ooo Interest Income and e¥pen$e Total Interest Income for financial asset5 held at amorbsed c05t Included wlthln flnan¢ial instruments held at atnortised Eost arp trade d2btor5, Intercompany balalTr￿, cash at bank and In hand, trade credltors, accruals. other credltors and soclal securlty and other raxes and bank loans. Lncluded w￿h1￿ financial instwrnents held at fair value are investments and penslon scheme liabllltles. 41

Annual Report and Accounts for Ihe year ended 31sl July 2023 Notès to the Accounts, contlnued 28. Contln9¢nt liabllltles klMRC Is currently challenolng the appllcation of the catedno concession by Students unions if they consider the estsbllshment to be a pub or bar. Whilst the Unlon belleves it has complied with the concession in good faith, the 5ublectlve nature of the interpretation of the concession could mean that HMRC take 3 different view. No contlngent liability has been quantified. 29. Post Balan¢• Sheet Ev•nts After the year end date, the last active member of the UEASSS Pension scheme ceased to be employed by the Unlon, t￿ggerIng an end to the Unlon's par￿cIpatIOn the scheme and the issue after the &alance Sheet date of an S75 Certificate of Debt under the Pensions Act 1995. This Increased value reflects a 'buy-out' valuatlon of £353,000. However it Is the intention of all parties that the Scheme and University will enter an apportianment a￿angerne￿t whereby the liability will be transferred to the Unlversity as principle Errbployer and a subsequent arrangement put in place between the Union and Universlty whlch renects a valu2 similar to that cur￿n￿v reflected In the Accounts. This is subject to è final agreement between The Trustees of the Scheme and the Unlversity and subsequently the Vnlversity and Union, failiTrg which the fLFII S75 lIat￿lIty would be payable to the Scheme. Whilst no formal written confimiatlon of the intended arrangement is currently in place, the Unlversity have acknowledged that is a significant Sum for the Unlon, they are considering options in respect of this debt and that the Pension Trustee Company do not antlcipate payment ror this liability within the next 12 month5 following the date of approval of these accounts. 42

Annual Report and Accounts for the year ended 31 51 July 2023 Notès to thé Accounts, contlnued 29. Cornporallve 2022 Slolernenl of Flnanclal Acllvlttes ConsolFdated Statement of Flnanclal Actlvltles for th• y••r and￿ 31 July 2022 2022 Restricted Building proierts 2021 Year ended 31 July Unrestrlcted Fund5 Restrlcted Funds other Total Funds Note5 £'ooo E'OOO £'ooo £'ooo £'ooo Income and Endowmènts from: Don8tlons Universlty Grants Provlsknn of accommo(Jation Compensation for transferred businesses Other fundlng from University 880 438 494 880 438 494 530 788 597 109 109 214 Charltable ¢7ctivitses for students Contdbulions from Club & society members 717 717 217 Commercial trading operatlons Income from Govt. support schemes and Insurance clèlms Other op8rt7ting income 5,445 5.445 2,258 34 39 1,546 26 39 rotal Income 7,439 717 8,156 6,176 nditurt on Resources Charitable activltles for students (1,442) (1,4421 (1,2041 Club & society expenses Expenditure agalnst grdnts Commercial Trading Operatlons 17291 {Ll (7291 {321) 15,418) (165) (335) (4,804) 13201 415 (5,418) Total Expendlture {6,860) (320) (730) (7,910) (6,508) Decrease in Pension defk6t 403 4L)3 42 Net Income / (Expendlture) 982 (320) (13) 049 (290) Funds brought ft)rward at 31 July 20211 (202D) (2,775) 4,006 389 1,620 1,909 Fund balances •t 31 July 2022 12021 (1,793) 3.686 376 2,269 1,619 The statement of flnancial activities includes all galns and losses recognised in the year. All IncorrTrlng resources and resources expended derive frotn continulng actlvlties 43