2024-07-31-accounts

CompallyNumbÈt."09628909 Cha*ily Ilumbef (En81a￿ & Walgsl. 1164033 UNIVERSITY QF BRIGHTON 5TVDENTS' UNION ANNLIAL REPORT AND FINANCIAL5TATEMENTS 31 JULY 2024

UNIVEASITY OF BRIGHTON STUDINTS, UNION TRU5TEES' ANNUAL REPORT For the yeè¢ endecl 31 july 2024 08JECTIVESANO ACnVITies (hafitsble oblectl¥P5

UNIVERSITYOF BRIGHTON STUC>ENT5' UNION Page 12 TRUSTEES, ANNUAL REPORT Icontinuedl For the year ended 31 July 2024 Th¢ trustees have taken TheCha¥ity Commi55ioD's 8uldèft¢e Dn p￿￿1￿r beneliiiniocon51deraiion ID re•ievéin4 ènd m?rJagirtg the DbjettiV¢5 and aciivi14e5 Otlheth3rity and 4re 5?t15fiedthe lThfoimAtion pre5Entedwithln thisaTrnual report demohsirates u8SU'& public benefit. Thè u£e olvolwitqQls and dottatad lgrylr The charity makès Lonsiderable use of the seryic15 vl volunteers In ordef 10 npt only JninagE the c￿rI￿a￿e iorfjpanyèrtiuStee ￿ve1, bui 4koto dEliYeractiVitles•nd outC¢)fflesfor ibe benefilof Its benÈfloarl•%. Thech311ty is also reliant donated st￿$£￿S, and thtssE th711aled sErvSces whlth can (wantified, are iero8n158d in the ACHIEVEMENTS A140 PE￿oRmA￿CE In 2023124 Over 7,500 &iudent5 èclively PèiticIp3ied In aurmembershlp actiViliLkSthrOu8hout IhE year with many Our 4nn¥al saiislaction results iemiin tan%i5teniiy hl8h wltb a 92% av¢ra8è for tho quÈ5tion does-BSU makes Sludent Ille èetier.. The Big Pla¢Tr-Flve 5traieiicThemes W¢ are 18 fflonths Inio Qur striteg prior1r￿S InThe 818 Plan thefolk)Win8 a(hiÈv￿ments. Amplrfy th¢ Siudept Voke 51vdent voicÈS ère the most ￿well￿1 tool In cieèiinB POSigivÈ changè Jnd colobratllll 5UCCeSs. The ￿rt81e vthc• is al Importantas thg Lts1￿(tr￿ and weneeO45 many as Possible. Thè P￿5￿ 5yrYey athieved nearTrw I.0￿ rSPDn5e5 ywer rhe year. pr￿dIfK leedbaEk Irorn 51uden15 Jbout their exoeiieniÈS piiortrie5. 750volunteer studEnt Cdut5P. Repl￿ental￿¥ès 5h&ied thr ￿n￿8ht$. ¥Ah over ILK)Jtt&nthng our RepFe5en1at￿n Summitstoexplare 12edbatkand 5U8ge¥1￿ThS on keyi55uÈ5 AfanT35ty( 2.150students¥oted iiioui ftslltwDÈoificer elgciion5. repr25eniin8a 3%1n(reasein tuinout. Thigi5 IhÈhighes1 Sincè 3D17118, Def￿d AcadeLnkQualily Studefflis are payinl Significant muney lor ih?ir edwailon. 4nd we will %vth hèrd to ènsure that they rKL4Ye valup far rnanpyafid ihe hl8hest qualit¥olè6ucatltsn p0s￿blo. The unlvèlSii¥acted onmanyof iho0lilcorcampbtqnpiloritiQ5,With S￿nifICant1￿?￿Q¥ernQttl irt thE acadEmicresUlat￿n5. such as Imp￿MentatIOn of 3UTomatiC *xtgn$lons, r¢biandin8 of lectvre Capturt to PD5it1onèl Statement on authèntit ès%eSSTnenrand u5eolAI 690 individual student5 r￿eLve0 ad￿ce and ddvocacy Irom the Suppoit team. warding acalernlc Issues ènd univèrsity com91aints. ourtnollthTyPvlse SUfvÈY. the aMual3vÈragèfor-BSU elf8clivety FEpre5ent5 myacadeffllcintere5t5" raseto83%.

UNIVERSITY OF 8RIGHTON STUDENT5, UNION TRLISTCIS, ANNLtAL RIPORT IcontinLiedl For tl?e year enderj 31 July 2024 PrOnbOtE Po51ti¥tWellbeing with the voisrhets ￿ller￿¢ pAotiy. hnd intrthrfiicod a win',ei cirii wcl3ge ènd witre￿tt femilliDQ Over ono Ehird oluniver5ilY 5tudontsnow dei141oa M￿￿[31 ho￿lthor neur0d￿Ver8e￿r.O WLI woikod wi:h lh￿ unwel￿￿Y 10 Bvild fseknging andcornmvnitv

UNIVERSITY OF 8RIGHTON STUDENTS, UNION TRUSTEES, ANNUAI REPORT Icontinuedl For the yearended 31 july 2024 FINANCIAL REVIEW lknaKlaltwlts (¥l¢tl¥ltlesand evejtyts Tetal InromÈ lor the year wa% E2,690,634122123 £2.732.904 including actuaiial rEvaluation ol E99.D741 which 15 è redwtion of £42.270 11.55%). Inromefrisrn cale5 and 5hDP5 in£re&sed by £83.l211 19%1 and income from enteriainmeTrt and event5 decreased by £45.436 I37%1. UBSU cDnliDu@5 Eo befrelit frorn the financral Suppori OF the Unlveisllyol Bil8hlon throu¥h ihp blork BFènr whlth ELI49,99612Z123-EI,122.0001. Oonatlonsènd Grants from oth&r luhdeT5 wore £87.528122123- ÉBS,2501. The tevèluètiDn ol rhe pfovlslon lor lutUFC pension Oolicir paymenis resultedln a Ioss¢>l E106,648122113- wofii of É99.0741 reflect￿￿£ docr?4se in the iniefest rère usÉd iodiscount luturecasb payments. Thls, Indddition t the re¢tsv¢ry plan1è5h paymonts of £94.197 during the year resultÈd a totalprovlsion In¢feèSe of (12.451. Total expenditure for thE Yeorwas F.2.672.649122123- E2,626.4J5lwhich 15 an iThcre&se of £4G.23411.76%1. Café ar shopexpenditvre increased by£27.17412.77%1 in line wiTh increa5od 501c5. The coit olEntertèinment ènd EvEnts reduced bv E57.648148.65%1 tellECting 4 iowards comm15SiOn b35ed eve￿1 sèles. Aiademrc expprlence, c6mpw community. aTrd oEherstudenl activitie5 expendiluie fftCrea5ed byacofflbined total ol E40.25313.11%1 Funds IDcre3sÈd by t17.985 durlng the veèr. ThesE funds will &e used go Suppoit the Continutd pursuit of OUF 51r3ieglc prlorltles éurln8 2021-25. The MiTrlrnum Reserve been rnoiniJin¢d al EIOO.000, in line With the RÈsèrve5PolKY, Cash Incrèased ￿£58.897. which rel1￿￿$th￿ SOFA surplus ts1 £ 17.985 IOF theyEai￿ plus the decreaseln the SUSS Ftltrye5 poIIc¥ Although ihe tharitfjble comparty hdd no free resÈFve5 at 31 July 3014. excluthn8 Ihe penslon deficlt lièknlliv Ot £1,219,59? 122IZJ- fl.277.1461 Iree ieserves Would havè èeen [365,439122123- E135MS51. The T¥v5tees reviewed the IJBSU knsoryes Policy in 23124. The pdicy followsChaiityCommi55ion gvideline5 ard The review conrlL¥Sed an appropriate minimum reserve level remain& at FbQ les5 than ÉIOO.000. At Ihe end ol 2023124 Uasu had a ffllnifflvm reSe￿e ol £IOO.Cth122124- ÉIW,00013nd a Develooment reserve of £21L.782 122121 - £164.3741- Dweloprtient ie5Etves are primjrily hold to suppori 0￿.¢¥* stiategic wojects line with ihe stiète8lc planand SlKietyactfvity thiovghout IheyÈai. The ttU5teE5 4re comoiiired to re￿e￿rtI th& R&sÉtvÈS Polwon 3ft3Mual bJ515. vestrnents wttty Ihe trnsrees, havthg re8ard lo the liquidttyrequirernentsol UBSU. have kept a¥al1 abl￿ lunds a5WOrbn8ca￿ta1.

UNIVIRSITY OF BRIGHTON STUDENTS. UNION TRUSTEES, ANNUAL REPORT Iconiinuedl For the ytor oiided 31 July 2024 Risk

UNIVERSITY OF 8RIGHTON STUDENTS, UNION Page 16 TRUSTEES, ANNUAL REPORT Icontinuedl For the year ended 31 July 2024 PLANSFORFUTVR& YEAR5 We y￿11(0n￿￿￿et0 lolbw ournew 5trèteOc prloritiE5.' thestudent Voice volcesare the most powerf￿ tool Intr4t1￿1po5IsIVO(ha￿&e ènd ttkbiètinisucce55. TheDgle volce15 a5 importapl a5 the iollpitive.and we Troed as marty asPOSSi￿e. Wewin.. Improvtthe Teprtsentqtive SIr￿t￿rS to reLeiYe artd ¢1￿￿[ JtudEnt¥pKt5 f1ilyix￿5s1ht Improve the feedbJ¢k lo all levelsof the Urtivefyty. Studenlsare payitb8518niltant Montyforihèlr t￿￿¢3t10Th, and WÈ willwoEk hardto e¥i5u[ei￿t they recpNevalue lor momLyand ihE hi8he5t quality ol education fOSSTbie. We will.. Colllinue toknbby clèaref anOmorÈ st￿ent (enired Jcadernic FwlatlL EIl3ufekey UnrwÈiSitypoliries arecon5isieiiily dellured En5urpwpwrt ln ￿4¢etor5tU￿entS movln8camwsès. Students are f#tiTh% 5i8nifi(4ni $55ue5 IhJlthaMen8e posltive ¥vellbelne. IndiVithalstthntswilla150 haye unlwe challenge5. and wewiH be by their det05uppult. advise andyideiheFn. Wewth.. Cham￿0￿POsItiVE mentsiwÈllb4ngand5UPPOrt ihrou8houl Ihe Union Unwer5ity Pl0￿de PFoartiy and reacti￿ acromrnodation Support Ensure BSU and Unwer51tySUPPOrt sei¥ice5 ale meeiinitthetu<rÈnt ted501tytysiudents. UdllBk I Th@te158cleircorrElati<Jn beiween 5tudenis Ihatfeel Ikethey beloftgat UfiNer&ty, and those that aLMevethdr poienD31.We Wll brlni51uttenis toget￿rI￿cla:e SifOn8ttsnnQclion5 ènd corninvnilies We wlll. proV￿e sèle, iTrtlu5Ne Spa[￿ Jnd aCEwil￿5 robrinz peO￿Q￿ether0lld helpcreateconttecEkns champ￿ equityfor aN students thFouBhoutt￿ UnloTrènd Utlivtrsity Provkle opportu￿t￿l￿1 studÉnt¥tobulld lheirs￿l#l and cultutal tkpltal Ern W rEtOEn15E IhatStuUents<h005e Unfversity lor rnanydfjllerenrr2asons.atsj hawedifferentdesired out¢ome& We Will help Our studentsto realt5tand 4¢hieve theargwn poteoti41. Wewill-. Cre3te mar@wn ￿0￿meTht andvolunteerifi8 opportunlllesfor studpntsa¢ros%ouroryonl$3titsn Increèseèwarèness ind artllulèt￿fi 01s￿lIsIe￿1fit partlcipaEin81rt BSU attivities Lobbythp. Unlver5tyto Incrp.a5e emp4oyability Dpportuoities Hnd oxperienteslor5tudÈnt% To x¥pport I1￿5e Jlm5. wEhavethefdlowln8 fwndations.. Markèts Impr4ve4urrnarketin8for tbe whole Uiiion. our services èTrdaciiVilles Ensure Our wrtua1 pre&enceallow5sti￿ent5 to acce5S ￿f0[matIon thEY ￿ed,wheTh the¥ needit Secvie irnproved ￿¥S￿al locèibnsf￿our 5eNices

UNIVERSITY OF 8RifJHTON STUDENTS, UNION rRUSTIIS' ANNUAL RIPOftT Ictsnlinuetll For tl)e year ÈndÈd 31 July 2024 PeoFd AtSPOllsthle andsusialnableltnl 5TrVCTURE, GOVERNANCE ANO MAIIAGEPAENT St)tus ahd hbstory

UNIVERSITY OF 8RIGHTON STUOENTS. VNION Page 18 TRUSTEE5' ANNUAL REPORT (Con￿nued) For thÈ yÈarÈnded 31 july 2024 RetaW0ty5￿PSWlth relatdF•rtlE5 and <o.operatlonwith other Wilh the exception of the 5abbdti¢al Offl¢eis las discuss￿ knvel. nofte ol 1helru5t￿e9 recve rernvneraik)n or Oiher benelFt Iroty th( wtrkwlih the IhariEY Tru51ee5 aiefequiid ED niaked￿ara￿0￿soII￿t￿re5t atfhostartalweryboaid meetlng. In thè cufreni vear no %vch ielatdparty tran5action5 wereieported. The Kelationship betwcen the Unwersty of 8righlOfj and UBSU ￿ y5t8bli5hed in ihe Re£ulaiion& ol th¢ Vniver511v. UBSU reièwe5 3 bknck Erant from the Univer5ify of ￿Igh1oN. UBSU ottuwe$ Space in the building& Dwned by thr UniYer5 irttlu5roe ol utilirie5. careiaking andcleèning 5taFF An o5cim?te4 value to UBSU tlis ffee serviced a¢commodètiOfi Ikls fundiTh8 fryffl varlovs mutual trading actiwtiQ5, ￿t will remain d¢pettdent on ihè unl￿erSilV tsf 8fi¢hion for 5UPPOrt. Th@ ducati¢n Act 1994 lfflp0￿5 ? duty on the Untversity tsl Brishton ro ensvfe tho linanci?I ￿a￿lIly VI 5ttsdent rÈpfeseTrLisi¥e boty afid the￿¢r¢ thÈèoardoltrv51¢es<on%idefS ttrHSSupportwW trytinttein thefore5eeBb￿ future. raniement5f0tseiti￿ remunera￿ofj vf key ma￿ageMentPor5o￿neI ftemuneralion of UB5U'5 kty maTrèAefflenl PEl5onnEI 15 decKted ty the Trustee B￿rd. ThÈse do¢￿10n5 ait basÉd on iecommendatlOn5 from ihe CEO lo110￿￿$ a review of the rolg 4yln5t 0SU'5 E¥alu3tion scheme. The CEO'% iemuiiwaiiofi Isde¢ldod byihe riu51ee5. TNustees' re￿n￿￿lItie$kn Ihep¥ep4roiion of Iinan<lalstatemeThti The trustee5 (who are èkn tTr￿ directaTs of Univergty ol Brt8hion Students. UnloN the pU[pts￿$ ol tompèny k7wI ar resplln5iblefur piepaflD8 ihe tfUSTees' annual report tho finhnclal 5t&iemw16 InaccoidantewlTh hpplicable lèw and res￿at￿J￿￿. CDmpany law reguiies the irustees io wepafe linawial stslemenis for each linarlcial yoai. UndEf that law. the tIU5tees hAve preped the financial Sidtements in dtcOidan(o witrh Uniied ￿ngdOM 6enerally Accepted Accoulliing Piactice (United Kinedom AccoufflEsn8 standard5ar￿ appI￿a￿lelaWl. Under¢LYnp4ny Liw, th@VU51ee5tnu5t noi apwovethe IlnèncFal statements thèy ale sal151ied th￿tth￿giVe a trne tair wiew (JF the state ol èffairs the r(Trmpany as al the balèrftr 5hèÈt date, ano ol Its In¢omE •Trd yxpendiiyre Ioi ibèt yeai. In prepaTlrtI thD5e stalemÈnt¥ Ihetruslp•sAireqilired 5eleci suiiaNtaccounthig polkles and therapply themion515tenT,' observoihe methottsand Principles In t￿￿(harlI1￿$S0kp,. makè jud8EmEn15 and accounting e5fimatesthat are reasonab￿ andwvd￿l,. siatewhether ap￿1¢ablEUKAcC0unlinI sta￿1¢d$ havtbtert follDwed 5¥bpct loan¥ moier&èldepaiturtsdiS(ksed wepafE Ihefinanii4151&ipffjenl50n the 80ingcoficerTrbas15 unlessltlsltsapwowiatclo piewme that thEcKiri13ble cornparywill continup In bu5itses5. Iho tru%leoS 1É5ponyble for keewn8proper Kcountin8 record4 which Llstlase wth i0350na￿e accuocy at any timè the fiThèn¢441905ilion af th@ charitable Company onawe them to er¢sufe thai tl fiTrancHI state¥n*nt5 ¢IMnpl¥ ￿th Componiesilct 2006. Thcyarcb15orcffjon%ibl￿ tsrsjfoguard1n8the￿ssQts0l thechoritoblccon?panyandheoc¢ taki￿¢ rèa50naWe5tep5 lor ihe prevtntlon 8nddete¢th￿ ol Iiaudènd othei itregularitie haiiièble¢ompany'5web%ite. tÈBislatiiM intheunited KinBthm¥overiiiwthe91epafatioTrand dlsseminationof Ilh3nclal 51atemefttsmayJ4ffer liomthe leldatlon In otherluri5dlitionS.

UNIVERSITY OF BRIGFifoN STtyDL.NTS' UNION TRUSTEF.S' ANNUAL REPORT ItOllti(iuedl For thp year ondod 31 july 2024 A￿d￿Or IIKP. EFERÉNCE ANDADMIN15TRATIVE D￿t￿Ls difgCtfxsoI the con1￿7￿¥ hJvo hL)IdoYiieb5 fdlow5. Aliitoirwelhdm lohA Wilstsn 0￿SU Atoihon I(￿lrI 0￿. ObosohJn N2 4GN. L•iir•Grpgnwogd.Poarsons Ftri

UNIVERSITY OF BRIGHTON STUDENTS. UNION Pa8e 110 TRUSTEE5' ANNUAL REPORT Iconrinuedl For the year ended 31 July 2024 FXEMPTIONSFROM tMSCLosua£ No exemptlons In)m thE rf131bwre iequiiements applicpblp io J laryr ch*ity havt been taken In truStee5' annuèl FUNDS HELDASCi1￿0D1At4 Ihe charitableUsfufidf3i￿nÈ eventsuiganised IhI5eJ bv St￿entS on certèln ttsUr5e5 to SUp￿￿￿ent their Ctsurse attwity. Fundsol E9.850 ¥ver? held on bpha1101 ihgse b5andRtoMJps B5 at 31 july 2024-5ee note 15. ThlsreportV43SèPWtrwEd byihe board ol irv51oe50r•....... behalf oltheboard by . 2024.andwa5%8ned foF andon Osa5y Atorno 2024

UNIVERSITY OF BRIGHTON STUOENTS, UNION INDIPI.NDINT AUDITOR'S RIPORT TO THÈ MLMOERS OF UMIVLRSITY OF BfiiGHTON s'fuDf..NTS' UNION Oplnlor• AcEoun•ng plac)￿ Otherlnlortll&tlgn

LINIVERSITY OF BRIGHTON 5TUDENT5' UNION Page112 INDEPENDEf4T AUDITOR'S REPORT TO THE MEhrt8ERS OF UNIVERSITY OF BRIGHTON STUDENTS. UNION Oplrtlonstsn ¢rthrtMttvrs p10￿r4bfjd byth•Compttrsl•sA¢t2006 Intsuropinion,b&sed on thewoiktsndeiiukon inthe course oloui 8udit-. the inl01mBt￿n9VenlrtlhÈLr￿Sfè•$'￿typ01rIrnC0Ip0ratIng1h9dlrectOr$,rep9rt>I0flh¥fin4n¢Ia1￿91IorWhItth leiihan¢ll $i&t0menl$ 9fe preparedls eOnSiSteniwlttt the Iln8n¢iaiststèmeot5.'8nd the diièCLofB'reporthgsbÈÈnpiÈpgr$dlna¢cordaDcewithappiic8blelegg1 M•ltErson whlGh roq¥lr¢d toreport by&x¢tPllon Inthc Ii&hto 0￿r knowlcdgo and ￿der￿landIn¥0￿fhe charitsbl¢ CQrnp￿nY its obtoinod lrt tho <auise ol the audil, wè have maierial mi5Slatemenr5 in ihe dire¢iors'Feport. We have nothiTrz to reportlA respect ol the matters hi rèlJJon towh1chthecwpan￿S Act 2(K)6 reathres tss t reportto ytru11, In OuroplniOn-. adeouitÈ x¢oundn4rotords have not beenkeo, or retwns adeqv2 ILYouraudtt have noi bw lotèr￿d from bYanchestsot¥lslted by LFg', tsr Ihehnan¢i41 slaEomont5 arenot inayeemefii ¥￿th thea¢wunttng 1ÈC0rthand￿turns'. or rtain dlsclcsursoldiie£tors' rEmunÈTrtion 5pecifiEd bylaw ar@ me.'oi wehavo not received all thelnlvrrn4ifon and eX￿ana￿on$wÈ reqvige fof )uraudit.' or the trtssteesworo not enth￿¢4 10 orepèretheffnancial statemen15 ki accuthnce wth the srnall Compa￿¢% iegi(ne n¢StAkÈadvanta8Eof the5mallcompanies' exemptioDln prep?riD8ihedireclor 5rwt4n&lakegdYantaAf olthe sm3N companles ExemptSonfmm there4uirtimÈhtttsprtPèiea sttstÈFK Itwt. Rspon*lbllltl•sofdlM¢ttsrÈ Asexplained moye lully thettustÈes' rp5ptsn5lb1l￿e5 51alemen¢ thE tru5tee5 IwtKJ ale 3150 ihe dileciors ol the ¢hèiitable comp3ny tof the PUTW5e5 Df c¢kMpany lawl ale responsible foi piepard￿On ol the NnanciJl ststemen15 an¢ l(Y beillg

atisfied ih41 th¢Yeive a iFue fairview. andfor s￿hlate{nal¢0n1I￿l ès thetlU5teesdeteimine 15 Decemaryto eivbloth piepaf3knn of linaficidl iTaiefflenisihètAf l#eÈ fromtheTial mi5St3Temenl. whpthprdtte tD Itaudofeiior. In tyepailnithe flnancial STarementri, thÈ tluSleS ar? ieSPOnslble foi asse5&ing thÈ charitable COM￿ny'S ability to tontrnbe as J 8(Jln8 concern. d15closln8. 35 applicable. mètters iel3ted tts8Ointconcern aDd using ghe golry concein basis of ac¢otsnHn& unless tho trusrees elther intend to Ilquidète the th6fitsUÈtom#anyof to cease opeiaUDn5, orh>4e realistk altema1y￿ ￿rI0 th>50. A¥dltofsv•sponslbllltlèforiheou¢titof tha IlnallclalstAt6illeMts Our04ec￿Ve$31e ￿ obtain r0350nab￿ 355yrance¥boutwkther ihefinanriJl siaiemenlsasawhole Jr@freÈfrtsm matèr￿1 tyH55tateM8nt.vth￿h￿rd￿Ètofr3VdarerrOr, andto |55uganauditor'5 r￿pOrt[hat1nau{lei0wQ￿nI0N. Rea5fsnableassur3ftce 15 a hlih1evelof assurancè, btsE IS thaT èudit cOndvilEd 4ti(KthniE WiEh ISAS (Uxlwillèhyw dethrtè rnatÈri31 rtW55tatEmentwhEnitexi5t& TrJi55t•ernEllt5can arise Irom Iraud orÉrcor wdaie((hidered matofièlif. indivldt￿l 01 Iht atyrt￿re. thty tou￿ rea50naNy be exppited Eo influencE thp. ECQtKimr(dpiiSionS of ￿se[S takett on ihe ba￿$ ol Ihese1SnaDCialstatemeots. 1riegd4fiDe5. Includingtravd. areinstsnce50tnoft<omplkn3ncewtth lawsan6re8u1a￿9ns ThÈÈxttnlttswththourpioc￿￿res are¢apableoIdetethn8lire8￿arItIz*. indudinfj fraud, 15 detailed bEIDW.

UNIVI.RSITY OF 8RIGIITON STUDCNTS, UNION Page114 INDEPENDè.NT AUDITOR'S REPORT TO TME MIM8ERS OF UNIVERSITY OF BRIGHTON STUDENTS, UNION Exrefittowhlchlh8 ¢onsldeled ¢BpibleoldBItGtlnglttagularltlo>, In¢ludlnglrnud ttuc Lo I1￿￿d.thfotsg￿ thi.&18ninBandirnplpmonrtngappropriaforQsgonsc&-.andtOif5ponddppiuyriJll,￿IV Fiiudol 5UspÉ-I rh t1￿$￿(hI￿￿£¢d￿1lb Li¢ytrfjiinceof IhootyDty nd its moTh)Èp.meni. Oui ap￿￿h￿a>JS follows.. Idcniilied of lillV5 rcgulJyons I￿1t Could reJson3bly ￿ expected To a mJtQTial vlf¢¢t tho IiJmowDfk IU2 and lh¢ LcrfnpJnio Act alJUb fbc Lharitrp5 nrt 20111 and Ihe relev3nl lax tomplianto re¢ulaons.

UNIVERSITY OF BRIGHTON STUDENTS. UNIQN P&Ee 114 INDEPE NDENT AUDITOR'S REPORT TO THE MEMBERS OF UNIVERsifioF BRIGHTON STUDEhtTS' UNION V$• C*Fouir4PQrt Th53repoitlsmadesolÈlyt¢ IhEchaiiroble comp&ny'smembgr5,9¥8bDdy. jnBccoIdJr￿c￿(hch0￿lvF3ol PDIi 16vl IheComp2nieJAct2006. OiiftsuditwoTkhes beenundertaken JothatWED?18hl$lthtEtothectsmp¥nY3ffl?mbeF$those bylaw. we do ¥¢¢ePE Of as5uw responsitsility w styofie oth81 Ihan me co￿panY aDd (ttè Gh3ri13blB company's member8.4sa h0ty.totouraudit￿rk.Iar ihisreport, orfor ih8oplTrioA$we hav& Iorrnèd. Davld Martln FCAISenlorSt&tDioryAuditorl Fo¢and trn bBhallof Te Group StAtutoryAudltor ILIATEI Iy Ollire.. Lew8s

IJNIVERSIN OF gRIGHTON STLIDf..NTS' UNION CONSOLIOATF.D £TATF.MFNT or FINANCIAI ACTIVITIIS IinclLadinf Consolidaied Incot71e ènd ÈKpeii(Iiture Accou(Itl for the yeiir tnded 11 Jiily 2034 Unrcstilcted ReStritLed rotal Funds 202 2023 INIOME E￿DowMENvSFR0TrA.. 1.4J3.904 7Jr.000 1,528.904 l.079.QO 81.726 1.498,630 l.041.220 93,975 1.079.L104 E2.726 TOTAL 2,fj15.6J A'J.UUO i.rig0.61 l.633.E)O EXPENOITURÉ ON- 120.856 120.¥Sb 108.275 75.OlXI 2.518.140 ro¥AL 2,491.001 79.0 2.G26.415 IIM.6181 Ner INCQNE foA YklE PÈRIOD & NET MOVEMENYIW FUPIDS io IY.%5 17.985 RECONCILIAIION OF FUNDS TOTALFUNPSCARRIED FORWARD Ar 3l IULY 2024

UNIVERSITY OF BRIGHTON STUDENTS. UNION BALANCE SHEETS s at 31 July 2024 Group 2024 Chapty 2024 Gr0￿p2025 tharlty 2023 Not¢5 FIXEDASSETS T4n8lWe as5et5 Inve￿￿entS 53.657 53.657 70.631 70,631 53.65? 53,659 7Q631 70,633 CURRENT ASSETS 82,1rt5 34.00$ 315.162 81145 81.758 31SI62 479.065 81,974 66.122 156.26$ 4N,3GI 81,974 203.EIG 356.265 541.855 Detytors cèth atknnk èrtd In hand Crèds¢rrfs-. AMounrsfa41￿¥dVE withinono year NffcijRRE￿ls5ETS 15 119,529 311.783 119,529 559.536 1139.9B7 264,3?4 1139,98?) 401J68 YOYALASSEISL£SSCUP8ENTIIASILITIES 365.441 413,196 J35,005 472.501 lorliabilitie5 16 11,2893971 11.280,5971 11.277,1461 11,277.1461 ET t￿BIl[rIES 924.156 1876.1011 804.64$) THE FUND5 QFThE GRQUPANDCklARITY Restricted ￿(oMefundS Lkves11icred incomelwds 17 17 1924 1561 1876,4011 19411411 IB04.6451 TOTALGROUPAND CH4RITr FU14r)s 18 1876,4011 1804.6451 s peimitted by S408 Ctrmgartie5 Att 200S, Ihe charity has not prepared it¥ tswn STaremèTrt of Fithancièl A¢tNities 3r ielated Dotes as li prewre5 VOUP acco￿￿{$. The cha¢ity'$10s5 foi the yeat ended 31 JvTr* 2024 was £71.7561202V23 The fiDancialsiatsmpnt5¢)npaEe5 J$ 10 33 w?reDpproved byihe ¥u5toe53nd 4uthor¢e4 lor155veon IljIL/ 2024. andare Signed on thelr bèhall by 05asuAt¢yno CDmpan¥Number..096289Q9

UNIVERSITY OF BRIGHTON STUDENTS. UNION COtrISOIIDATFD STATIMINT OF CASH FLOWS for tlie year Énded 31 luly 2024 C.Ik)ntY tirow E023 Charity 2023 24 Notos £ASH FIDWS FROM OPERATING AUIVITIES." Net IDI1￿/{0￿1*￿TrW1 from oporating 19 tsF,327 61.327 ISd.9231 CASH FLOWS FROM INVESTING ACYIVlnES.. 18.4]01 IIP.4661 147.9fj61 CHANGE IM AND CASH EQUIVALENTS IN TIIE R£poftfip4G Y£Aft 5%.197 25fj.265 256.26) 1fj9.1&.1 CASH AND CASII EQUIVJllENTSAT THE ENO OFTHE REPORTING YEAR 256.255 256.?.05

UNIVERSITY OF 8RIGHTON sfuDENTS' UNION NOTES TO THE FINANCIAI STATEMENTS lor the year ended 31 July 2024 7he charitablgcompaty. wlijch 155 publK beoefiieoiityun4er fRS 102, isconstitutedb5acofflpan¥litnited by8uJ¥aTriet. ncorrorèted in England W3le5 and govcrnEd by ils Metnorandum and Art￿￿$ ol As50clation. The meTnbeii ol the cbaritable romoailV#Ddthe prilliipalJddiys53re8lvefj Ln the ReferentÈandAdM￿iSIIati¥ÈDeIail5Of theTrustÈs' Annual Reporl. The ndiureof Shecharitablecompanvsoperationsand Plincipal ￿￿￿￿eSarIn<lvdEd0n pale i. AC¢QitNfNG POtIClES Bas1% ola££auntu The finartial slateTnents ha¥e been prepèied in attor￿a￿e wlth the Statemertof Re¢thnmeAded Practice.. Att¢unti￿# UK affid Aepubli¢of IrEland IrN5 1021 and the fitta0¢FI ftep¢rtl￿6 Stai)dafd appli(ablein Uthted RL'publiG f IfelandlFA$ 1021 and ihe ChaiitksAci 2011 and UX Gen813NyAccppied Piactice as51 appl￿ from I january 2019. The wÈsentatk¥naliurierKyLspoundssterfin As è131 july 2024,the balance Sheet $￿WÈd nèt lia￿lItIeS01 E924.156 after re¢oiniyngibe SUSS pefflsondelKIt Ilabili 01£1.289.597. In con51derlni ihe gLNnÉ ts)tKern ba51501 Wep41at￿fi of thÈ liAan(ial 5tatement5, the trust&5 have iewewed ihe IhFee- rna￿epI￿n. Theplanalms to acNÈve arlegsra breake¥en p051tviDatrog5tho T￿￿EYearS0f thÈ ￿art. The UAion'smain incomestrearnsarp the Uni¥ersityoIU¥ighton in trhtformol 5vbventyon,¥Trdcommerclal EradSngacitht¥ from itSOutlets (tale5 and S￿9514￿d siudenT evefits. The tsnivwsityof 61i8htonh45 confiimed n5 5uppoig In ihelormof a 8lotkfjTant lor yeai ended 31 Jvty 2025lotalln8 ei.150.WQI2023124.. É1.149.9961. The Unioil's ÈOtDme¢¢ial adbvity PIO¥idp5 è diver5livkd an4 robust Stsur¢o of in10m￿. C05tS a5SQCl4tÈd with 8efteY?tino comrneFclal income primarityvèry gh thelevel ¢ttrnmercia1 a(u¥ity thvsieduCin8thefinanci& risks è550ciaredwrth ihi5 JCtknty- The Unirjn heldf315.162in tath 4nd banktyeposiisatthe eDdof Z02312412022n3- É256.265land h3d neicvFrenta55215 01 É3JI.7B3120221Z3- £261.1741. Flee res2rve5arg ffl3lnialned I￿k. hh[￿l￿￿tY depjslt a£counis ensurln8cash w￿[ be readily av3ilable to Support operat￿8 aciivity, The prolilo of the UTrlon'5 In¢ome, e¥pen4iture, ahd cashlbw is <losdyciKie&ied,en5ufiDBther2 are no Pèriods of $14rtititaNt nettash oytllow. BW £nieiprlsellmlted IS a tFadin45utsTthary ¢omp¥rywholty owned ￿ UBSU. The trading sUb￿diary1enQrèted a Nor for the Year 01 £89.741 CDntinuin< a tiend lo return to norTrial alier the Pahdethc12022123- nel IDSS EJ6,407I Sales ieyenuewès El,159.67112022123- É1.084.1321 ènd expenditurewas £J.(￿9,930{2O?l12j- tJ,100.539111 isantiripatEd B5U EntÈiprtsÈ litniiedwill remain In profit 31ter a strong start totiadlng In the 2024115 flnandklyear. t Ihp ilme of approvinR the lnartclal ststemeD15. the dirp£tor5 have a ioa50nablts txp¢rtation th4t tht ¢w#any h>5 ad&q￿re[e$o￿rcE5t0(0Tr11nLsnopefat1onaIeXlStEr￿e IDrtheloie5eeablefutvri 8SUEntecpiiseLKniFedhasalsvègfÈEO 5hort.teym ban Iiom The Universily ol BriEhloTr SltsdetTrls' Union io cowr short.term 105ses untll Ihe company has distributable re5orvo. The directors Cooiinue to adopt the I￿rnI CtsntÈrn baSi5 013ccouTrlinB In preparlng ihe linanclè asts Trf ffffi50uda￿Cn The 5taremènt olfin3ncial actiwÈiesDnd thobalancoshÈet ¢on5DliJale Ihe re5ult%ot theacttvitie5 olboth theUnNer￿lV0l tyri8h¢on Studthis- un￿Th and It5 whD11y Owned 51lbs￿l￿ry undertaking. BSV Ént*.IwlseL5miPed

UDklVERSITY OF BRIGHTON STUDENTS. VNIO NOTE5 TO THE FINANCIAL STATIMElhlTS Iconhnuedl lor Ihe year ende(131 July 2014 ACCOUNTINS PQLIIIES IC4nlinuedl Income fKom yanis. Inclihling HovoromE57t Rrallt5. whvre r￿lated to P*FformJnCE and specilc le1iyerablp5. 15 accounted Expèndltut cJli'xo[i￿ as Support co%Ts SuppNt co'.ts are Ilivn alloraTrd ovei thedilfefeThtcatt4OIYdS oloxpolldjiiiieon thE ba51$01 Tèifiiltration Paymehts

UNIVERSITY OF 8RIGHTON STUDENTS, UNION P2ge 120 NOTES TO THE FINANCIAI STATEMINTS Icontinuedl lor ih@ yÈarended 31 July 2024 AccouN￿NG POLIQÈ$IContlnuedl TawlL4ellxtd&55ets All tan¥iblp assetspurchased ata cosi DI EI,OODormore and Ihèt hlr vean expE¢ted u5eluleconomlc Ille thèt èxC@dsarte ¢epreclation. DewE(latiOn 15 provlded on all lan11b￿ fixed a55ets ar rères cakulated io write each a55et to lis e511rned resldual value evenlygyer 115 expected Usefvllile. a5 fDIIow5'. Equlpneni-over liveyeais lTrvei￿eDtS JI ol the rhanrabte company's fixed assti inVQ5UDents Jro carrlod rn the balonce S￿et at CQ5t less PIOViSitsDS lor impairmeoL These assets Jie not ieddily reali5dblE thFough sale occordinily. a reliaFAe marker cannot be Srocks alè ¥aknèd èt the lower 01 ¢05t ènd nel rpali5able v3lw. after maklnE allo%¥arKe torany slow-m0￿￿& damagedor solete item5. lia￿l￿e$ Acot)iin8EnttiJknliiyis diKlosed forth05e irants. whKh do not t*prÈsènt liabiliiiès, wherpthg p05lble obli8atiDTr, whkh at15esfrom Pa5ieventS. willonly b¢cortficmedby iheocciJfon¢eolofie or moieuncertain lutufeevenlsnirtwhplly wthin thoifusteo5' Colltrol. Provisltsns tyler￿98￿150afU{ Ehoseyonls wherothereisuntÈrtaintyastothetithngoramouni and an¥ un¢ertaint¥ It￿rdi￿ thtamounrisfflore than oneol the dtierminlnifa¢toisa5è ba￿$ foi reasonab￿ estimationof Leaseo as%•t$4ttdo￿l1l￿o￿s l of the char5table company's leas@S a<E "QP&tAtin¥ lo?5￿. Jnnval ronia15 ale char8ed 10 the 5tatenient of

UNIVERSITYOF BRIGHTON STUDENTS, UNION PrflEe l ?.1 NOTIS TO Tiir. riNANCIAL STATf.MfNT£ If.ontinLieJl ltrr the ypar ended 31 ILJIY ?0?. ACCaUP4TING POLEIIES Icontinuedl

UNIVE RSITY OF BRIGHTON STUDENTS, UNION Page 122 NOTE5 TO THE FINANCIAL STATEMENTS Icontinuedl for the year ended 31 july 2024 ACCOUNTING POLIOESIContinugdl nds hew a5 W$tod￿n The£hariiablec¢mpanyac15 a5 Custodian lof the lunds rai5edtyiho 5tud?nt5' tninv SPtsrtSclub5.Thecharitatle(aTnPary 1521$0 ¢v5todian of ihe aThnu￿ Ralsing andGidng IRAGI proceeds arisln8 Ir¢￿ ihèvariovs fundra5slAgeventSOiganlsed b¥ rased bystvdent5 Dnceitain cour5e5 to Supplementtheiriours8 activiiy. Theca5h b￿anceS 10 ie5pea 0lthesecv5l¢￿10n aclivll￿s are held in Iho Éh4fitstye company's bank èrtount5 togeiher wrh 4 corrp5pondin8 for the JnJovnt5 irfvolved. Pr￿ t¢ 18119 th? charitable company èlsv acted $ ¢vStodiin Eor lunJ5 rwJcJ by 5tudenl 50rietie5. These ore OW ￿Tr￿dered part of UBSU's fvfflancial a¢tivity have now beon ￿(￿￿}rated ￿t0 the consol￿aled 51Ptefftont ol Fund The 8Qn¢f31 fund comprises the a¢cumulatEd sutpluse5 01 un{e5lilcced income over eApenchture. whith aleavala￿e lor U5eln further3nceof Ihegereial objectives of the chjiltablecompanv. Dtsignated fund5 are a parli[Iilar form ol vnre51ricted funds consisting ol amounts wh￿h have been allocated or de5tgnèted loi spe¢ilit PUrpD&ts by th¢tru5ree5 The use of desluated Tuhd51et￿￿M5at the diSCIÈLN%i tsf ihe iTusiees. Ro>tfkre&fuD¢Js ore lunds Sub5ect trj spe(ilicionditionsimw5Ed by donor&Thewrpose?nd use of the Fe5'.IlcteO lunds are set out in thè notQ5 to the linanual 5tatemei115. kn￿>U￿t5 Un5PÈnT at tTr￿ yoai-end are(aN￿OI0[￿ard In the balance sheet. CRificAL AttOUNY>NG IUDGEMENTSAND KEY SOURCESOF ESTIMATION UNIEifAINTY IntheappllcationofthechèfitablÈctsmpanI5ac¢r)Urtiin8)olicie5. thetfV5teesèreie•ulredtomalejud8ements.tsiimètes a55umpiiyns abLbtsLthe£ariyinsamountrola55Etsand liaknliir5 Ihai 4r0 rhDi re4d apparent frumoihor souf¢os. The e5tirnaie5 ?nd Underly￿￿$ èS5umPliOns arc based historical eiporlencp and Qiher fa(tO¢5 Ihèt are c0Tr51dered to be e5timaiei and tsndrl￿n8 aSSumpri0￿ 8ro rw4ewed on on8olnB basis. REdLE￿n5 to actt)un4iTrd eslimates are r8co8fflised in ihe year in which the E5timale 15 revised 1f ihe rÈyi5ion allects othvlhatvear. ry in ghe yearof the I￿$10￿ nd tUl￿re¥earS il 1here￿￿￿natFecls bothcuttonl andfurure years. The e5timaies ènd as5VmptlQll5 th8: IIDve a 5igniltcant risk vf cauyn8 a Materi￿ édjv5tmeni to the c3rryliiB ¥nounts ol a55ei5 and IlabNitièS wIt￿Th thg dext flhan[ial vpar ale those used by ihe s(heme aCu￿lY In al(￿￿11n& the unIvEr￿ty of B[￿h1O￿ Students. i11￿¢n'S portlon4f thèsu55 delihed benefit ponSion5(heme li?biliiy Ih thÉ Dphian of the tru51¢e5. lhE￿ are other estimates and undeilyithg a55umpdon5 in the applicatK>n of accountin8 pDll¢ieS thataie conydeied lo becrirical. bec•vse iheyeithey fequire a li￿lFKaDtaM0uttt of mafiègement judrtemeht oi

IINIVEIISITY OF BRIGHTON STUDIMTS. UNION Pagp 123 NOTfg TO THI fiNANCIAI_ STATF.MI.NTJ Iicnlinuprll for the year Liided 31 July 2024 DOPIATIONSAND IEGACIES TDE 20kl 1,149.996 1,149.996 87.528 1.12?,0 Si.250 75.Doa 291.380 291,180 291.380 1.453.904 1.52&YO4 INCOME FROM WORKING WITH SIUDEA TS i.ono.171 916.9Jl .079.W.I 1.041.220 OTHEH IRADING ACTIVITIES INVE5tMEMrs RAISING SUN05 (￿?￿r(la1 acliviLIV.¥- 16,290 6.335 SD) 79.31LI 76.£OY 20.856

UNIVERSITY OF BRIGHTON STUDEN¥S' UNION Page 124 NOTES TO THE FINANCIAL STATEMENTS Iconts"nuedl forthÈ year ended 31 July 2024 COSTS OSWORKINGIIIIFHSIUDENTS Rest(￿l lund$ 2024 2023 na1￿￿￿ by acfpviry.. Cale5and shop5 tniertalnmenis and ￿efitS 1,009.094 60.836 IJW.094 fjQ.836 981,910 118.484 Academlc @xp￿￿e￿￿. 8ddc&and wellb4rte Campw andcommvllitv Olhtrstudent ￿tr￿tieS 4￿.014 4N.DI41 75. 767.367 358.703 ?s,o 854528 75.IX 767.367 Lo55 on reValUat￿ts ol pension deliiii fjovern¥nce c¢st5 lu6.￿8 132,835 106.64 129,505 2.476.795 75,0 2.551.793 2.513,140 Unre5tcl¢tert Astrlctsd Totè4 W24 2Q13 ATralY5Èd bytypcof c05ts.' 837.402 832.402 171.691 783.612 198.308 Suppgrt stslf c05rs Logs OTh ¢eva1vo1iynolpen5it>n deficit 839,888 106.648 75.(¥yJ 91d.888 895.942 106,643 29L380 96.950 132A35 29L.380 96.950 131,835 291.38 OlheiwpporicostS G￿er￿a￿CeC0slS 319.392 129,505 2.476,793 2,SSI.793 2.518.140 c￿er￿at￿￿c9￿ESare madeupa5fdbw5'. 2024 2023 SabbaikalOfficer5alade5 SabbètKJlOfh¢er training uditois. iemuneration- Extern414udji Auditois, IEmuneia1io￿- cOtpoialE taxCom￿lante UnderaccriiHlln rp.spe(tol prlthryeafs 109.215 5.7S2 16.775 750 Ing.3() 3.7&7 l5.125 343 615 132.83 129.505

UNIV£R51TY OF BRifJHTON STUDENTS, UNION i ge 125 NOTES TO Tkif FINANCIAL STATI.MI.NTS Icontinuedl the year eiide,d 31 July 202 STAFF C05TS ?opJ A¢.￿¢M1￿c￿￿￿rl-. D¢t. ¢1￿ vthllbDine Ollicc m&ndgoM￿1t SaWllr.Al OTfir.eis 63 10.lso 18.552 blw¢ll £9Q,LD) diid ElOQ.CW. Grvss Employei p*n5ian 22.802 22.802

UNIVERSITY OF BRIGHTON STUDENTS, UNION NOTES TO THE FINANCIAL S¥ATEMENTS Icontinuedl for the year ended 31 July 2024 g. STASFt05T5 Icontlnuedl Other than 45 dsclosed above, no 1fuslp￿rQCe¥Yed remunerat￿￿ for thÈir [gr￿CeS tts rhèthariEableLgmpairyduflfi8ihè The 5abbitkal OtNceiS Incuried nor￿￿1 bugness expenkes for trèv&l, subslstonci and tr3inln8 durin¥ rhè coyr5e of rheir efftployrneni a5 Sabbaii¢al Offictrs ènd ¢¢tlaime4 fh(¥)Tr through the normd tmployee eipen5ÈS relmbuiS2fftent wotÈdu15 fheioial of IhestexpeAse5 lo¢BII the SabbaiKal Olliccrsèmtsunted 10 £%752122123- E3,767 ujp olvolunteer5 a￿4 donateOse¥¥iCS The IhJrity rnako5 c¢llSidera￿¥ u5eut the 5eNlces ol VLlunieeis In ord6r to notonlymanaBe ihe chaiitable (Offlpany at Irustee levd but also to ddiyer 5ervKes and other $4MilAr projèct outcryne5 ￿b￿￿etit5 to beneficiar￿5. The chariiab company isalso ￿lIant￿p0￿￿a￿3t￿O seTvice5 prov￿￿￿tsy1tSW1d￿ranSe ol 5YWrteFS. thp5edonatertse￿i(OsWh1ch caTh be quantrfied, are recognid the financial 5Iatemeois a5 donat￿￿n51￿￿1Trd. 10 NETINC¢TrME FORIHE YEAR 1024 2023 Net income foi thèyeèrsstbted afTeF chJrwn8-. Depieclatio 25.4Q4 25.6(KI 11 TANGIOLEASSEIS 6101 Ewlpment Cosi.. 01 AugLFSL2013 Additioos 269.149 269.149 8.430 8.430 Oiswsèls 3J Juty 2024 241.632 Oeptvclatpon.. 01 Au8U5t 2023 tharEeforÈhgyoar Di5W5als 31 Jul¥2014 198.518 25,4 198.518 15,41M 187 97J ?3.922 Net bookvèlu¢'. 31 July2024 53,657 53.657 31 Jvly2023 7a.631 7D.631

UNIVERSITY OF BRIGHTON STUDINT5' UNION PagÈ 127 NOTES TO THF. FINANCIAL STATf..MINT5 l£onhTiuedl fot the yi%ar elided 31 july 2024 12 INVE5TMEf*TS char￿ UniOtTr Furtd$ 8YJ EnrcrpDs0 Lid foLJl 2024 TutAI W21 ri1.1￿ BSIJ Enieiprl%e Limiiod Ig a iradiil8 sbhsidr4iy ¢tsnlfvln¥ wholty Nyiilid ty Uitsu. Tal￿ irAdinRsub&idiary gtrtprarpd a Pfollt $70CKS 68.703 2.145 81.974 Bk,974 14 DE8¥ORS 5.988 5.988 27.414 1.42S 28.017 28.Ql? 37.281 .44.OD 66.L22 203.616

UNIVERSITY OF BRIGHTON STUD£NTS' UNION NOTES TO THE FINANCIAL STATEMENTS Iconift¥uÈdl forthe year ended 31 July 2024 IS CReDITORS Group 2024 £hariiyW24 Group 2023 Amounts falkngduewithinon2year-. 136,5431 133.6851 138,0711 lJ3.6851 Oiher t&xe5 and soc1315ecurSlV CQSt> 19,8501 Actiual- 134.4121 tlelerred In¢cthc 119.529 139.9871 Defelred income.. Oeferredincomobrou8hi lorwèrd DelerredincomeiElea5ed io the statementof 25.17? 25.175 26.766 26,766 Income reC￿ved inadvance duritlg IhèpÈr 2S,175 Dèlei<ed inrornEcarried forward.. 2S.175 DefÈiied ￿1￿Me Includedili the ¢ompaiatNe5indudes thos¢ Iwd5 received iDathance foiseThicestobe delivefedbythe charitablÈ cofflgany ID tht 202312024 nrt3ntial yeaf and PFlfflail￿ (ompiises bwkins lee recer4ed ￿ advar*Ee lor 16. PROV1510N FOR LIAMILfiiES 2024 2023 5US5 pen￿ort deflciT grovwoo SU5$ pension defi¢w¢ pr￿￿$40Th 1,277,146 1,465,922 aevAlUat￿ll ol peftslon delidt Balance ag 31July lQ6.648 1,289,S97 1,217,146

UtyIIVLRSIT¥ OF 8RIGHTON S"IUDfNTS' UNIOhl P¢? ge 129 NOTES r() THI FINANCIAL STAfEMENTS Icoiillnuodl for the ye.3r eiided.31 july 2024 THE FUNDSOI GRUVP AND THE CHARITY Exp0rdit￿￿E 311v beiweeo ?.024 Graup 75.￿0 I75.0￿1 IP5.th)1 75.(X)O 143.3891 70,631 ¥.dJo iw10pm￿nt rc5erve IEJnd 47,410 Gfnvp R￿￿trICts￿ I￿oMe fiinus 175.OODI 175.(Wl 75.wo 2.6Jf7.W7 1112.0921 4a.2&fJ 11.5.GtsOI 70.631 Devl(>vM￿it (escrvo lund 269.C32 164.37 188.776 Z.657.W7 .713,9n7

UNIVERSITY OF BRIGHTON STUDENTS. UNION IOTES TO THE FINANCIAL STATEMENTS l¢.nnt?nuodl for the year ended 31 july 2024 17. TTrtE FUND5 OFTHE GAOUPAflD THE CHAASIY IcontlllUEdl Thecapital reseT¥e fundwa5 set iipioseparJtolyidentily ihethaiit3bleCumpanV5 fixLYJ asls thw. ha￿ b￿npul¢ha%ed Irom thea15 an&depr￿lat1On so that iho clu41n8 baldnce on the repre5enf5 rhellet hook value io the unreStrKtod fixed 355etS involvod. ThE Contlll8ency re5eiYe lund wès set vp to Set arnunt io covei urtloreseen or emergency expenditure. The amovnt rèrried forward in this fund IS ievlewed annuallybv ihefiusie?5 The ba1?nce Df thegeneral Fund that Is not u%Èd forany Qthor purpos9s￿Stra￿5leii￿d io Ibe Development re5erye fund io carrid Iwwiltd artd vsod to lurthrf dcvolopthechariratrje acttiities ol the ch3Ti¥obl¢ cthbpBTry. The SU5S pensti)ndllcirfundwA>sèt up tQ 5eparaieWWeAtitythe rese 211.783 ioo.th)o 331,312 53,657 43lJ12 Fixed CwrenT ProO￿On5 lor Charfty aSs¥l% 1014 Rest[￿ted 1nc0mof￿ThdS'. Unrestrlciedlncome fu(Trds'. DO￿%nated lunds.. CarAtal rtserve fund Contin8eo£¥ieseive lund Developmenire5ervefund SUS5gpn%iDll dellcit S3.657 53.657 100,0 379.067 259,538 PIEfiiA8ILtriE5 51,6S7 479.067 1876.401

LJNIVERSITY OF 8RICJHrO￿ STUDINTS, UNION NOTIS TO TH£ FINANCIAL STATIDIIENTS Iw•liiiuedl for the year vndÈd 31 July 2(124 ANALYSIS DF NF.T A55FTS iIF.TWFfN FUNI1% Ctsrfftnt Proyisions lo Group 5Stts UniostrKted Intomt lunds.. 70,G31 70,631 iLkn.OQD 3fyI.361 I￿.(m￿) 164.374 70.631 404.36 11,277.1461 (urron Charky 20?.1 70.G31 7U.531 ioo.tKx) I￿.000 441,8JB 70.631 541.858 1804,645

UNIVERSITY OF BRIGHTON STUDENTS, UNION NOTE5 TO TFIE FINANCIAL STATEMENTS Icontinuedl forthÈ ￿¥[ ertded 31 July 2024 19. RECONCIIIATION OF 14ETINCOME TOIIET CASH PROVEDED BYOPEK4nNG AcfiviTIES Group ID24 Chdrity2024 Group2033 Chanty 2023 IletincDmeforthE repDrtin8 period 17,985 17.985 106.488 106.488 diu5tMent5 foi.. Dividend5. inieie51Jnd lent5 from ItNestments 15.404 ?5.404 25.6 25.600 Decreasein d@brors 52.257 52.767 ecrea5ein creditor5 120.4581 12.451 120.d581 Decr2asellincre•sel inpIOviSK>n5 1188.7761 Nei rash usrd inispeFat¥w actlvltie5 67.327 67.327 161.9331 164.9231 20. RSLATÉD PARTY TRAf4SA(TIONS Jrln8thèyeai. thech3fitè￿eCOMDOrt¥ undertook various trènsxtlonsoTrbeh31'of rTrdiDg 5vbstdlary. 35U ETrterpr15e LimlTfd,aco(npanylncorporJtedrt Enwand èndWale5lCompanyreglsttationntsmber092422141. IhechArrtabletOmwhy did not r￿GOIn￿le anyGiltl4iddDn3tv)nglromBSU Énterpr15c Limiioddurih£ theyèar theto the lact thetradin£ subsidiary Is In deffcit. At the ballnce sheei date. E47.753 12022123 £137,494) wo5 Qwed by B5U EDterpr5se Liniiied. This will bt ThpFewere nooiher related pèrtv Ifansactioiisdvrln8the year. 2A. PÉNSION COMMrrMENTS UBSU p3[ti￿PhIeS Inthe 51udenis' Unlon sup&fènn￿1tI0n Schptnt. whKhi53 der￿dbe￿e1iI s¢lmewhose mentbershlp Con￿$t$ Dlffflplo¥Ees o15tudeTrti' unrons and related bt￿leS throughout tho(ouncry. &enelitsln respect oFseNce up t¢ 30SeptembeF 2003 are 3rcwed on a"liDèl salèrf ￿815, With &enelit5 ITr re5pectDI 5eryicofrom l Qctober2003 a¢cTUint on a tsreer Average Revalued Eèirtin81 ICARÉI ￿515 Wifh eflect from 30 September 20JI the Sthem¢ c105ed to future Tho SEhEffle undofwcniaDaciuar￿lya1uar10rt asai 30 lune 2022 and 5hDWst￿E Ihernarket valueof the Scheme'5assets was £106.7m With ihesea55els reproseniing 44% of ¢hevaluE of ￿nefitS thal hadacctupdio member5 after allowin8 101 eApEct@d lutuie In¢rease51J oainings. ThE delltit onbTron4oln8 fvndlfflg ba51sam¢vnged go E136 6rn. ThE assumptlonswhich have thE (YW)515isllilrcanteffect upon tlie result501 the valvoi￿n are ihose r￿￿11￿8 iv Ihe rale of reiuin un I￿V￿>t[nents andthefaze5of InueJ5e in 5413rie54nd pery￿an5. Thefollowing a55¥TnpiKbnsweieèpplied at 30June 2020..- The investmentreturnwould be per annurn befot¢ rebferntnt ond 2.￿pOr￿nn￿￿ aftoi retirorrteni. Pen$5onsattlUSnÉdn IheCARE ba$15 would revalue at 3.6% PErantsum. Piesent dnd lutUlE pen5ionswoyld incrt4SE at r8tes 5picified byscheme ruks Vdith apWopr￿t@ assumptitsfis wh*.¢e those ère dependenton Infl4rK>n.

UNIVERSITY OF BRIGHTON STUDENTS, UNION NOTES TO THE FINANCIAI 5TAT£MF.NTS Icoi)tinuedl for the year ended JL lilly 2024

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