Reglstered numbgr. 09628909 Charity number: 1164033 UNIVERSITY OF BRIGHTON STUDENTS UNION (A company limited by guarantgo) TRUSTEES. REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025
UNIVERSITY OF BRIGHTON STUOENTS UNION (A company limited by guaranteg) CONTENTS Page Trustees. report Independent auditors. report on the financlal statements 12-16 Consolidated statgment of financlal activities 17 Con$olidated balance sheet 18 Company balance sheet 19 Consolldated statement of Cash flows 20 Notes to the tinancial statements 21-42
UNIVERSITY OF BRIGHTON STUDENTS UNION (A company Ilmlted by guarantse) TRUSTEES, REPORT FOR THE YEAR ENDED 31 JULY 2025 The Trustees Present their annual report together with the audited financial statements of the Cornpany for the 1 August 2024 to 31 July 2025. The Annual rewrt serves the purposes of both a Trustees, pOrt and a directors, report under company law. The Trustees conffrm that the Annual rewrt and finanaal stslemenls of the charilable company ¢omply with the current ststulory requirements. the reqU1ments of the charitable company's goveming document and the provisions of the Statement of Recommended Practice ISORPI applicable to charities preparing thelr accounts in actj)fdan with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS1021 leffective 1 January 20191. ObJectlve8 and acllvlues a. Pollcies and obJectlv88 The charitable objectives for which the charÉtable company was estsblislwl are.. The advancement of education of students al the Universty of Brighton for the public b8nefil by.. The promotion of the interests and welfare of students of Brighton during their cOue of study and representing. supporting, and advising students. Recognition as the represenlatsve Channel betsveen students and the Universty of Brighton and any other extemal bodies., and The provision of social. cultural, Spoitng, and recreational aetNitr"es and forums for discussion and debate for the personal development of ils students. b. Actlvltle5 undortakon to achievo objgctivos In pursuit of these objectives, we support and represent over 16,000 sbjdents. We do this by.. Gathering and sharing student feedb8¢k wth the University to improve the studerst experience. OpeRting a support and advocacy setvice, providing individual adwce and support to Students. Enabling and enraging democratic parbcipalion in student leadership elections. Enabling and encouraging student pa'cIpation in activities, evenis and societies to Inase their sense of belonging, aid contsnuation. and improve outcomes. Building communities and facilitating engagement beeen studenis to foster a high sense of belonging. Campaigning locally, regionally and natsonally on issues impacting students,. and Providing employment opportunities and training for students. The trustees have taken The Charity Commission's guidance on public benefit into consideralh)n in revi1ftg and managing the objectives and 8ctivilie$ of the charity 8nd are satisfied the infonnation pregented within this annual pOrt demonstrates U8SU's public benefit. Our MisSn is-. Making Studont Llfe Better c. The uso of voluntsers and donatod 8errflces The ¢harity makes considerable use of the seNices of volunteers to not only manage the charitable company at trustee level, but also to deliver activities and outcomes for the benefit of its beneficiaries. The charity is also reliant upon donated services. and Ihose donated seNices which can be quantified, are recognised in the financial ststements as donations in ktnd.
UNIVERSITY OF BRIGHTON STUDENTS UNION (A company limited by guaraoteel TRUSTEES, REPORT {CONTINUEDI FOR THE YEAR ENDED 31 JULY 2025 Achievements and perforniance a. Main achievements of the Company In 2024125 over 7.500 students actively participated in our membership activib.es throughout the year with many students participaling in multiple opportunities. Our annual salislaclion results remain consistenlly high with a 93% aveTage for the question does 'BSU makes sludenl life betterf. The BS9 Plan - Flve Strategic Themes We are three years into our strategic priorities in The Big Plan with the following achievements. b. Amplify the Student Volce Student volS are the most powerful tool in creating positive change and celebrating Su$S_ The single voice is as important as the collective and we need as many as possible. The pulse survey achieved nearly 1,000 responses over the year, providing vital feedback from students about their experiences and priorilies. 650 volunteer sludenl Course Representatives shared their insights, with over 120 altending our Representation Summits lo explore feedback and suggesliDn5 on key iSSLtes 2,005 students voted in our full-time offIr elections. with a focus on achiev1ng a much mote even split of voles across campuses. which was achieved The National Sludenl SuNey results gave a 6¥0 increase in our satisfaction levels with students, which was a just reward for all the hard wo ¢. Defend A¢adomic Quality Students are paying significant money for their education, and we will work hard lo ensure that they receive value for money and the highest quality of education possible. The University acted on many of the Officers. campaign priorities including a change from module to component capping on resils and In-year Module Retriev81 IIYMRI for all years. Perhaps most impacllul is the commitment lo stop any new modules having exams, as they disadvantage many students, and do not represent aulhenb"c assessment. In ot5r monthly Pulse survey. Ihe annijal average for 8SU effectively iepresenls my academic interests rose for the third year running to 86Yo
UNWERSITY OF BRIGHTON STUDENTS UNION (A company Ilmtted by guaranteo TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 JULY 2025 A¢hlavements and perfomian¢e {contlnuedl d. Promote Posltlve Wellbelng Students are facing signifi¢ant issues that challeng8 p95itive W81lbeg. Individual students will also have unique challer>ges, and we will be by their side to support advise and guide Ihem. Cost of living increases conts.nue to hil students and remains the nurnber one concem each month. Through a donation from the University, we opened BSU Essentsals, a free food panty for students in financial hardship. Nearfy 1.000 students accessed this servi. Over one third ol university students n¢)w declare a mentsl hearth or neurodivergenoe. We worked with the University to address physcal and academic challenges Ihal they all la. g. Bulld Belonglng and Community There is a clear correlation betsveen students that feel like they belong at university, and those that achieve their potential. We will bring Sdents together to ¢ale strong CA)nnections and communities. Societies had a fantastic year with the number rising from 110 active groups to 170 by the end of the year, wlh over 3000 members actively taking parL and increase of 900 students on the prevv)us year. A varlety of free activi)es were put on across the campuses, particularly targeled at subject areas wth higher drop out rates. We await the statistics to see if this was impactful. The Officer team ran a number of events prorr4)ling and celebrating different culture5, through food, entertainment and dance. The Falmer fun day was a great succoss. ensuring students at the campus feel activities are available to them. Black History month events went auoss the University spaces, into the libraries 8nd canteens. The Black Leadership programme was jointsy created and launched, with extemal speakers and imp8Ctful sessions to inspire our students. f. Boost Employablllty We recognise that students choose University for many different reasons and have different desired outcomes. We will help our students to realise and a¢hieve Iheir own polenlial. We worked dosely with the University Careers and Employability team lo rLsn a Change Makers event, bringing students from across different courses and backgrounds together to tackle real-world challenges. We also mel with local MPS to lobby for changes to the intemational student work visas. Page 3
UNWERSITY OF BRIGHTON STUDENTS UNION (A company limited by guarantee) TrUSTEES' REPORT ICONTINUEDI FOR THE YEAR ENDED 31 JULY 2025 Financial review a. Financial result5 of activities and events Total income for the year was £2,714.244 123124 - £2,690,633) which is an increase of £23,611 lo.880) Income from cafes and shops fell by £3,62510.360hl and incorne from entertainment and events decreased by £4,523 15.74 101. UBSU continues to benefi't from the financi81 support of the University of Brighton through the block grant which was £1,149,996 123124 - £1.149,9961. Donations and GTrnls from other funders were £116,925123124 - £87,528}. The revaluation of the provision for future pension deficit payments resulted in a gain of £35,741 123124 £106,648 lossl. This, in addition lo the recovery plan cash payments of £98,907 duTing the year resulted in a lolal provision decrease of £134,647. Tglal expendiluie for the year was £2.638,037 123124 £2,566,000) which is an increase of £72,037 12.81°kn1. Café and shop expenditure increased by £10,899 {1.08O/f)I because of higher buying costs. The cost of Entertainment and events reduced by £5,56T19.150/DI reflecting further restrnclunng towards commission-based event sales Academic experience, campus and community, and Dlher sludenl activities expenditure increased by a combined total of £54.47714.38%1. Funds incrÈ3sed by £111.948 during the year. These funds will be used lo support the conb'nued pursuit of our strategic piiorib'es during 2025-26. The Iwinimum Reserve has been maintained 21 £100,000, in line with the Reserves Policy. Cash decreased by £55,151 reflecting the SOFA surplus of £111,948 for the year adjusted for non-cash and working capital movements. Depreciation of £24,223 was added back, while an increase in debtors of £19,014, a dèciease in stock of £869, a decrease in creditors of £13,547, and a reduction in the provision for liabilities of £134,647 resulted in a nel oufflow from operating activities. In addition, the charity invested £24,983 in the purchase ol fixed assets during the year. b. Reser¥es policy Although the charitable company had Tro free reserves al 31 July 2025, excluding the pension deficit liability of £1,154,950123124 - £1,289,597) freè reseryes would have been £288,325123124- £311,784). The Trustees reviewed the UBSU Reserves Policy in 24125. The policy follows Charity Commission guidelines and considers the risks 2sso¢ialed with ils activity and the financ81 impact of these risks on income and expendiluTe. The review concluded an appropriate miriimum reserve level remains al no less than £100,000. AI the end of 2024125 UBSU had a minimum reserve of £100,000 {23124- £100,000) and a Development reseNe of £188,325 123124 £211,784). Developfflenl reserves are primarily held to SUPFX)rt one-off strategic projects in line with the strategic plan and Society activity throughout the year The Iruslees are committed to reviewing the Resetves Policy on an annual basis. Page 4
UNIVERSITY OF BRIGHTON STUDENTS UNION (A Company Ilmited by guarnnteel TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 JULY 2025 . Golng ¢on¢orn As at 31 July 2025, the balance sheet showed net IRbilities of £812,208 after rwnising Ihe SUSS pension deficit liability of £1.154,950. In considering the going concern basis of preparatson of the financial stalemenls, the trustees have reviewed the three-year finance plan. The plan aims to a¢hieve at least a breakeven position across the three years of the plan. The Union's main ino)me streams are the University of Bnghlon in tha lomi of subvents"on, and commercial trading activity from its outlets {cafes and shops) and sludenl events. The University of Brighton has confirmed its support in the fomi of a Block Grant lor the year ended 31 Juty 2026 totaling £l.150,000 12024125.. £1.149,996). The Union's commercial activity provides a diver51fJed and robust source of inmme. Costs associated wth generatsng commercial income primarily vary wth the level of commercsal activty thus reduong the financial risks associated with this activity. The Union held £260.011 12023124 £315,162) in ¢ash and bank dep05its at the end ot 2024125 and had nel current assets of £288,32512023124 - £311.7841. The profile of the Union's income, expendiluTe, and cashflow is closely correlated, ensuring there are no periods of significant nelsh ouffiow. The Trustees believe the cuffent level of free serVeS. alon9 With dose Control of expendtture will be sufficient lo manage any decreases in income over at 5east the next e1ve months BSU Enterprise Limited is a trading subsidiary company wholly owned by UBSU. The trading subsidiary generated a profit for the year of £68.362 {2023124 - £89.7411. Sales revenue was £1.143,624 {2023r24 £1,159.6711 and expendibjre was £1,075.262 (2023124 £1.069.9301. It is anticipated BSU Enterprise Limited will remain in profit after a strong start to trading in the 2025126 financial year. On the basis of this information, the trustees consider the going concem basis to be appropriate. d. MatsTlal Imiestments pollcy The trustees, havlng regard to the liquidity requirements of UBSU. have kept available funds as worknng capital. •. Prlnclpal risks and un¢ertalntle8 The trustees have a duty to identify and review the risks to which the charity is exposed and lo ensl1 that appropriate ¢onlrols are in place to provide reasonable assurance against fraud and error. Systems and produreS havo been established to mitigate the financial and trading risks. Procedures are in place to ensure compliance with health and safety legislation in relation to staff, volunteers and participants in all activities of the Union.
UNIVERsrrv OF BRIGHTON STUDENTS UNION (A company limited by guarnntee) TRUSTEES, REPORT ICONTINUEDI FOR THE YEAR ENDED 31 JULY 2025 Structure, governance and management . Constitutio UBSU is a registered charity, and a company limited by guarantee, nol having share capital. Every member undertakes to contribute an amount not exceeding £1 to the assets ol the charity in the event ol the charsty being woijnd up during the period of membership, or wlhin one year thereafter. The Union was originally sel up by the University of Brighton. 11 created ils own unique constitution which was formally adopted on 30 April 2010 2nd it was registered as a charitable trust in England and Wales on 25 August 2010 The new charitable company was incorporated on 8 June 2015, tix)k over all the activities of the charitable trust with effect trom 31 July 2015, and was registered as a charity in England and Wales on 20 October 2015. UBSU is governed by the rules and regulations set (Jown in its company Memorandum and Articles of Association dated 8 June 2015. b. Methods of appointment or election of Trustees The management of the Group and Ihe Company is the reSponsi'11ty of the Trusiees who are elecled and co- opted under the terms of the Trust deed. - Organisational structure and deeislon-making policies UBSU is administered by ils Board of Trustees consisting of up lo lour Lay Persons, up lo four Students and four Sabbatical Trustees (students elected annually by cross-campus secret ballot of the UBSU membership). The four sabbatical posts are President, Education Officer, Activities Officer and Communities Officer. The sabbatical posts are full-time, remunerated posts as authorised by the Edtjcation Act 1994. Business and employmenl decisions are the responsibility of the Board, as are the approvals of the annual budgets and accounts. The Board meets on a iegular basis lo receive reports and review the charity's performance. The board of trustees has delegated the day-to-day running of UBSU lo a Chief Executive, named under'Refeience and Administrative details.. UBSU employs several full-lime staff undertaking the management of its many aclivilie5 and these staff are accountable lo the Chief Execub've in the perfomiance of their duts"es. The Sabbatical Trustees attend several trainin9 events designeAJ to ensure they understand their role as Trustees. All external lrnstees and student trustees are also given an induction session before they join the Board which includes the role and responsibilities of trustees generally and in relation to Brighton Students, Union," conflicts ol interest,. and the principles of good govemance. d. Pay policy lor key management personnel Remuneration of UBSU'S key management personnel is decided by the Trustee Board. These decisions are based on recommendations from the CEO following a VIeW of the le against BSU'S role evaluation 5¢heme. The CEO'S rernuneralion is decided by the trustees. Page 6
UNIVERsifi OF BRIGHTON STUDENTS UNION (A Gompany limited by guardntg01 TRUSTEES. REPORT {CONTIMUEDI FOR THE YEAR ENDED 31 JULY 2025 Structure. govorTrance and management (contlnuod e. Related party relatlonshlps With the exception of Ihe Sabbatical Officers {as discussed above), none of the trustees reG8ive remuneration or other benefit from their work with the charity. Trustees are required to make dedarat'ons of interest al the start of every board meeting. In the current year no such le1ed party transactions were reported. The relahonship between the Universty of Brighton and UBSU is estsblished in the Regulations of the University. UBSU receives a block grant from the University of Brighton. U8SU occupies space in the building5 owned by the University indusNe of utilities, caretaking and cleaning staff. An eslimaled value lo UBSU for this free seThiced accommodation has been included in the financial staletnenls al a conseNats"ve £302.452 12023124 £291,380}. Although UBSU continues to generdte supplementary funding from various mutual trading activities, it 11 remain dependent on the University of Brighton for support. The Edu(2tion Acl 1994 imposes a duty on the University of Brighton to ensure the finanaal viability of its student representative body and therefore the board of trustees considers Ihis supp)rt will continue in the foreseeable fvture. Paqe 7
UNIVERSITY OF BRIGHTON STUDENTS UNION (A company Ilmited by guarantee) TRUSTEES, REPORT {CONTINUED} FOR THE YEAR ENDED 31 JULY 2025 Plans for future period$ We will continue to follow our new strategic priorities". Am the Student Voice Sludenl volS are the fflosl powerful tool in creating positive change and lebrating success. The single voice is as important a5 the collective, and we need as many as possible We will, Improve the represenlalive slruelures lo re1ve louder and clearer student voices from across the University Ensure students feel that their voices are valued and acted upon Improve the feedback to all levels of the University. Defend Academlc uali Students are paying significant money for their education, and we wll work hard to ensure that they receive value for money and the highest quality ol education possible. We will, Continue to lobby for Clearer and more student centred academic regulations Ensure key University policies are consislenlly delivered Ensure support 15 In place lor students moving campuses Promote Positive Wellbein Students are facing significant issues th31 challenge posilivp wellbeing Individual students will also have unique challenges, and we will be by their side lo support, advise and guide thern. We will", Champion positive rnenlal wellbeing and support throughoul the Union and University Pfovide proaclive and ieactive accommodation support Ensure 8SU and University support services are meeting the current needs of our sttjdenls. Build Belon in and Communi There is a clear correlation between students that feel like they belong al UnNersity, and those that achieve theif potential. We will bring studersls together lo create strong connections and communities. We will, Provide safe. inclusive space5 and activities lo bring people together and help cieate connections Champion equity for all students Ihioughoul the Union and University Provide opportur)ilies for students lo build their social and cultural Capital Boost Em lo ablli We recognise that students choose University for many different asOnS, and have different desired outcomes. We will help our students lo realise and achieve their own potential. We will", Create more employment and volunleenng opportunities for students across our organisation Increase awareness and articulation ol skills learnt participating in BSU activities Lobby the University to increase employability opportunities and experiences for students To support these aims, we have the following foundations". Markètlng Improve OUT marketing for the whole Union, our services and activities Page 8
UNIVERSITY OF BRIGHTON STUDENTS UNION IA company limilod by guarantee) TRUSTEES. REPORT {CONTINUEDI FOR THE YEAR ENDED 31 JULY 2026 Plans lor future Pofiods (continued} Ensure our virtual presence allows students to access information they need, when they need it Secure improved physical tocations for our services Peoplo Ensufy that all our staff have the skills and support needed to succeed in their roles Encovrage opportunitses for innovabon and change in order lo delNer our aims Review our staff ben•fits to enable us to attract and retsin a tslented team Rèsponslble and Su8talnable Unlon Secure financial sustainability lo successfully deliver our strategic aims We will ensure that our IT systems and skill levels meet the needs ofour operations Make ethical and sustainable deosions regarding partners, Suppliers and our $eNices Reference and adrnlnislrativo detalls ol Ihe Company. Its truste•s and advS8ers Trust¢es A Welham J Wilson (resigned 27 June 2025) J Tindall O Atomon {resigned 27 June 2025} M£ Olujohungbe O Obasohan F Emmanuel I51gned 27 June 20251 A Ononiba D Dada (resigned 27 June 2025) D Sanders (appointed 1 April 20251 T Al¢ha (appointed 1 April 20251 R Rano {appointed 1 April 2025) N Spence {appointed 28 June 2025) M Kana, Chair (appointed 28 June 20251 R Birch (appointed 28 June 2025) Company reglstered numbor 09628909 Charlty reglstered number 1164033 Roglsterod office Cockcroft Building Lewes Road Brighton BN2 4GN Independent audltors TC Group One Bell Lane Lewes East Sussex BN7 1JU Paqe 9
UNIVERSITY OF BRIGHTON STUDENTS UNION (A ¢ompany limlted by guarnnteg) TRUSTEES, REPORT ICONTINUEDI FOR THE YEAR ENDED 31 JULY 2025 The charity has made the following professK)nal appointments. Auditor Banker TC Group, One Bell Lane. Lewes, East Sussex, BN7 1JU Natwest Bank. 8-11 Pavilion Buildings. Caslle Square, Brighton, East Sussex BN1 1 DP The following staff are responsible for the day-104ay management of the charity.. Chief Executive Director of Commercial Servi¢es Director of Membership Servi$ Laura Greenwood-Pearsons Justin Brentnall Tom Foy Laura Greenwood-Pearsons is the chaiitable company's Corresponden contact. Funds held as eustodlan The charitable company acts as custodian fof the funds iaised by the students, many SF)Orts clubs. The charitable company is also cu%lodian of the annual Raising and Giving IRAGI proceeds arising from Ihe various fundraising events organised by Ine students each year and then distributed lo the nominated charities involved. Finally, the charity is custodian ol funds raised by sludenls on oert31n courses lo supplement their course tIvity. Funds of £11,825 were held on behalf of these clubs and group5 as al 31 July 2025- see note 16. Statement of Trustees. responsibilities The Trustees Iwho are also the directors ol the Company for the purroses of company lawl are restx)nsible lor preparin9 the Tnislee.s' rpport and the financial statements in accordan with applicable law and United Kingdom Accounting Stan(Jards (United 'ngdoM Generally Accepted A9ting Practice). Company law requires the TTuslees to prepare financial statements for each financial . 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 slate of affairs of the Group and the Company and of their incoming resources and application of resources, including their income and expenditure, for that period. In preparing these financial stalemenls, the Tluslees are required lo.. select suitable accounting poliues and then apply them consistentw, observe the methods and principles of the Charities SORP IFRS 1021., make judgments and accounting ests"males that are reasonable and prudent., slate whether applicable UK Accounting Standards IFRS 1021 have been followed, subject to any material departures disclosed and explained in the financial statements., prepare the financial statements on the going coii¢ern basis unless it is inappropriate to presurne that the Group will contsnue in business. The Trustees are responsible for keeping adequate accounting records that are suffiryent lo show and explain the Group and the Company's transactions and disclose wlh reasonable accuracy al any lime the financial P051tion of the Group and the Company and enable them lo ensure that the financial slalemenls comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the GfOUP and the Company and hence for taking reasonable steps for the prevention and detecb'on of traud and other irregularities. Page 10
UNIVERsifi OF BRIGHTON STUDENTS UNION IA company Ilmited by guarant••) TRUSTEES, REPORT (CONTIMUEDI FOR THE YEAR ENDED 31 JULY 2025 Dlsclosure of infonnation lo auditors Each of the persons who are Trustees at the time when this Trustees, report is approved has confimied that.. so far as thal Trustee is aware, there is no relevant audit infomation of which the charitable group's auditors are unaware, and that Trustee has taken all th8 steps that ought lo have been taken as a Twslee in order to be awa of any relevant audit information and to establish that the charitable group's auditors are aware of that infomiation. Auditor8 The auditors, TC Group, have been apsxjinted as the auditor lo the charitsble company and has indicated their willingness to continue in office. Approved by order of the members of the board of Trustees and signed on their behalf by.. M Kana Date. Cg1 iai &OAS Paqe 11
UNIVERSITY OF BRIGHTON STUDENTS UNION IA company limited by guarantee) INDEPENDENT AUDrroRS' REPORT TO THE MEMBERS OF UNIVERsrrY OF BRIGHTON STUDENTS UNION Opinion We have audited the financial stalefflents of University of B¥ighton Sludents Union (the 'parenl charitable companll and ils subsidiaries Ilhe 'group'l for the year ended 31 July 2025 which compfise the Consolidated statement of financial activities, the Consolidated balance sheet, the Company balance sheet. the Consolidated statement of cash fiows and the related notes, including a summary of significant accountin9 policies. The 'nancial repong framework that has been applted in their pparation is applicable law and United Kingdom Accounting Standards. induding Financi21 Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic ol Ireland, (United Kingdom Generally Accepted Accounting Piaclice). In our opinion the financial statements.. give a true and fair view ol the slate of the Group's and of the panI charitable company's affairs as al 31 July 2025 and of the Group's incoming resources and appIall0 of resources, includin9 Ils income and expenditu for the year then ended", have been properly prepared in accordance with United Kingdom Generally ACpted Accounting Practice. and have been prepared in accordance with the requirements of the Companies Act 2006. Basis for op&nion We conducted our audit in accordan with Inlemalional Standards on Auditing IUKI IISAS IUKII and applicable law. Our responsibilities under those standards are further described In the Auditors, responsibilities lor the audit of the financial slalemenls ctIOn ol our report We are independent of the Group in accordance with the ethi1 requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Conclusions relating lo goiny ¢onc9rn In auditing the financial ststemenls, we have eoncluded that the Trustees, use of the going o)ncern basis of accounling in the preparation of the financial stslements is appropriate. Based on the work we have perforrned, we have not identified any material uncertainties ielaling lo events or conditions that, individually or collectively, may ca51 significant doubl on the Group's or the parent charilable company's ability lo continue as a going concern for a period of al least twelve months from when the financi81 slalemenls are aulhorised for issue. Our responsibilities and the responsibilitses of the Trustees with respect 10 90ing coneem are describecl in the relevant sections of this report. Page 12
UNIVERSITY OF BRIGHTON STUDENTS UNION IA company Ilmttod by guarantoe) INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF UNIVERSITY OF BRIGHTON STUOENTS UNION (CONTINUED) othgr Inforniatlon The other information comprises the infomiatson included in the Annual report other than the financial statements and our Auditors, retX)rt thereon. The Trustees a responsible for the other infomalion contained within the Annual pOrt. Our opinion on the financial statements does not cover the other infomiation and, exeept to the extent otheNise expli¢iUy staled in our report, we do not express any brn) of assurance concluson Ihereon. Our responsibility is lo read the other infomation and. in doing so. consider whether the other informatron is materially inconsistent wllh the financial statements or our kn¢)wledge obtained in the urse ol trie audit, or otherwise appeats to te materially misslated. If we identify such matersal inconsistentses or apparent material mi$stalemenls. we are required to determine whether this gives rise to a material misststemenl in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misslatemenl of this other inform*ion, we are required to report that fact. We have nothing to report in Ihls regard. Oplnlon on other matter5 pre$¢rfb6d by the Companles Act 2006 In our opinion. based on the work undertaken in the course of the audit the information given in the Truslees, report for the financial year for which the financial statements are prepared is consislenl with the financial ststements. the Trustees. report has been PPared in accordance with appluble legal requirements. Mattern oft whlch we are requlred to report by oxcoptlon In the light of our knowledge and understanding of th$ charitsble company and ts environment oblained in the urse of the audit, we have not identified material misstatements in the Trustees, report. We have nothing lo report in respect of the following matters in relation lo which Companies Act 2006 requires us to pOrt to you if. in 0r opinion.. the parent charitable o)mpany has not kept adequate and sufficient accountr'ng Rcords, or retums adequate for our audit have not been ceIVed from branches not visited by us.. or the parent charitsble ¢ompany financial statements are not in agreement with the accounkn'ng re¢ords and returns.. or certain discSosure$ of Tnjstees, remuneration specified by law are not made,. or we have not received all the informats'on and explanations we rul[e for our audrt. Page 13
UNIVERSITY OF 8RIGHTON STUDENTS UNION (A company limited by guarantee) INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF UNIVERsrrY OF BRIGHTON STUDENTS UNION ICONTINUEDI Responsibilities of trustees As explained more fully in the Tnjslees, responsibiltties stslemenl, Ihe Trustees Iwho are also the direclors of the ¢harrtable company for the purposes of company lawl are reswnsible for the preparation of the financial statements and for being satisfied thal they give a Irue and fair view, and for such inlemal control as the Trustees determine is necessary lo enable the preparation of financial statements that are flee from material misslalement, whether due lo fraud or error. Iri preparing the financial statements. the Trustees are responsitAe lor assessing the Group's and the parenl charitable company s ability lo Continue as a going Con, disclosing, as applicable, mallers related lo going concern and Usng the going concern basis of 2ccountirig unless the Trustèes either intend lo liquidale the Group or the parent charitable company or to cease operations, or have no reali51ic alternative bul lo do so. Page 14
UNIVERSITY OF BRIGHTON STUDEKfs UNION (A company Ilmhod by guarnntetl INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF UNIVERSITY OF BRIGHTON STUOENTS UNION (CONTINUED) Audltors. responslbllltles for the audlt of Ihe flnanclal 6tatgments Our objectives are to obtain reasonable assurance about whether the finan¢ial statements as a a free from material misstatement, whether due to fraud or error. and to issue an Auditors, report that indudes our opinK)n. Reasonable assuran is a high level of assuTance. bul is not a guarantee that an audit ¢ondu¢ted in accordance wth ISAS {UK) will always detect a material misstalernent when it exists. Misstalemonts can arise from fraud or error and are considered material if, individually or in the agggate, they could reasonably be expected to influence th8 economtc decisions of users taken on the basis of these finan¢ial stslenxnls. Irregularities, including fraud. arè instances of non-compliance with kws and regulations. We design Pfocedures in line wth our responsibilities, ouljined aljove. to detect mateiial misstatements in respect of ifregularitles. including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below.. Extent to whleh thg audlt was ¢onsldered capable of det8Ctlng Srre9ularttlos, Includlng fraud The objectives of our audit, in respect to fraud, a.. to identify and assess the risks of material misslatemenl of the finanaal ststements due to fraud.. to obtain suffiryenl appropriate audit eviden regarding the assessed risks of material misstatement due to fraud, through designing and implemenb'ng appropriate responses", and to respond appropriately to fraud or suspected fraud identrfied during the audit. However, the primary responsibility for the prevention and detecb'on of fraud rests with both those charged with govemance of the entity and its management. Our approach was as follows.. We identified areas of laws and regulations that could reasonably be ex*6d to have a terial effect on the financial statements from our general commer¢ial and sedor exFerience, and through discussion with the twslee$ and other management (as required by auditing standards), and discussed with the directors and other management the policies and procedures regarding compliance wlh law5 and regulations". We identified the following areas as those most likely lo have svch an effect.. health and safety., General Data Protection Regulation IGDPR),, fraud., bribery and corruption and employment law. Auditing stsndards limil the required audit procedures to identify non-compliance with these laws and regulations lo enquiry of the trustees and other management and inspection ol regulatory and legal coeSpOndenCe, if any. We considered the legal and re9ulalory frameworks dirertly applicable to the financial statements reporting framework IFRS 102 and the Companies A¢t 2006 and the Charities Act 2011) and the relevant tax compliance regulab'ons in the UK., We considered the nature of the group's operations, the control environment and busines5 performance, including the key drivers for management's remuneration., We wmmunicated identified laws and regulations throughoutour team and remained alert to any indications of non-compliance throughout the audit; We considered the predureS and controls that the group has established lo address risks identified, or that otherwise provenL deter and delecl fraud., and how senior management rnnitors those progfammes and ¢ontrols. Based on this understanding we designed our audit procedures lo identify non-complian with such laws and regulations. Where the risk was nsidered to be higher, we performed audit procedures lo address each idelltified fraud risk. These procedu$ induded.. le51ing manual joumals,, reviewing the financial slatemenl discbsures and testing to supporbng do¢umentation', perFormlng analyti¢21 procedures; and enquiring of management, ané were designed lo provide reasonable assurance that the financial statements were free from fraud or error. Page15
UNIVERSITY OF 8RIGHTON STUDENTS UNION IA ¢ompany limited by guarantee) INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF UNIVERSITY OF BRIGHTON STUDENTS UNION ICONTINUEDI Owing lo the inherent limitations of an audit. there is an unavoidaUe risk that we may not have detected some material misstatements in the financial slatemenls. even though we have propefly planned 2nd performed our audit in accordan with auditing stsndards. For example, the further removed non-compliance with laws and regulatsons lirregulariliesl is from the events and transactions reflected in the financi21 slalefflenls, the less likely the inheTently limited prOdureS required by auditing standards would identify IL The ttsk is also grealei regarding irgUIantpeS occurring due lo fraud ralhel than error, as traud involves intentional concealment, forgery, collusion. omission or misrepresenlalion. We are not responsible lor preventing non-complian and cannot be expected lo delect non-compliance with all laws and regulations. A lurther desuiplion ol our responsibilities for the audit of the financial 51alemenls is located on the Financial Reporting Council's website al". ww.Irc.or Auditors. report. .uklaudilorsres onsibililies. This description forms part of our Use of our report This report is made solely lo the charitable company's members. as a body, in accordance with Chapter 3 of Part 16 of the Companie5 Acl 2006. Our audit work has been undertaken so that we mrghl siale lo the chanlable company's membeis those mallers we are required lo slate lo them In an Auditors, report and for no olheT purpose To the fullest exlenl permilled by law, we do not accept or assume responsibility lo anyone other than the charitable company and its tnembeis. as a body, lor Dur audit work, lor this port. or for the opinions we have formed. David Martin FCA (Senior statutory auditor for and on behalf of TC Group Ottices" Lewes Date. Ib E. Page 16
UNIVERsrtY OF BRIGHTON STUDENfs UNION (A ¢*)mpany limitgd by guar4ntoe) CONSOUDATED STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNTI FOR ThE YEAR ENDED 31 JULY 2025 Re8trl¢ted Unrestricted fund$ funds 2025 2026 Total fundg 2025 Total lunds 2024 Note In¢om6 from: Donats'ons and legacies Charitsble activities Other trading activities 75,000 1,494.372 1,070,855 74.017 1,589,372 1,070,855 74,017 1,528.904 1,079,003 82.726 Total Ineome 75.000 2,639,244 2,714,244 2,690.633 Expenditure on: Raising funds Charitable activities 128,600 2,434.437 128,600 2,509,437 120,856 2.445,144 75.000 Total expgndituro 75.000 2,563.037 2,638,037 2,566,000 Net movem•nt in funds before other recognised gainslllosses) Actuarial gains on defined benefit pension schemes 76,207 76.207 124,633 35.741 35,741 1106,6481 Net movemènt in funds 111.948 111,948 17.985 Re¢on¢lllatlon of funds: Total funds brought forward Net movement in funds 1924.1561 111.948 (924,1561 111,948 1942,1411 17,985 Total fund8 carrfod forward 1812,2081 {812,2081 (924,1561 The Consolidated statement of finanal 8ctiviti8s includes all gains and losses recognised in the year. The notes on pages 2110 42 fom part of these financial statements. Page 17
UNIVERSITY OF BRIGHTON STUDENTS UNION IA company limited by guarantee) REGISTERED NUMBER: 09628909 CONSOLIDATED BALANCE SHEET AS AT 31 JULY 2025 2025 2024 Note Fixed assets Tangible assets 12 54,417 53,657 54,417 53,657 Current assels Stocks Debtors Cash al bank and in hand 14 81,276 53,020 260,011 82.145 34,005 315,162 15 394.307 431,312 Current liabilities Creditors. arrK)unls falling due within one year 16 1105,9821 1119,5281 Net current assets 288.325 311.784 Total assets less eurrent liabilities 342,742 365.441 Net assets excluding pension liability Defined benefit pension scheme liability 342,742 (1,154,950) 365,447 11,289.5971 Total net liabilities 1812,2081 1924,1561 Charity funds Reslricled funds Unrestricted fund5 17 {812,2081 1924.1561 Total funds {812,2081 1924,1561 The Trustees acknowledge their responsibilities for COFnplying with the requirements of the Act with respect lo accounting records and preparation of financial statements. The financial slalements were approved and aulhorised for issue by the Trustees and signed on their behalf by.. Date.. cqIRl&t15 The notes on pages 21 to 42 form part of these financial statements. Page 18
UNIVERSITY OF BRIGHTON STUDENTS UNION {A company Ilmlted by guarantee REGISTERED NUMBER: 09628909 COMPANY BALANCE SHEET AS AT 31 JULY 2025 2025 2024 Note Flxed a88ets Tangible assets Investments 12 13 54,417 53.857 54,419 53,659 Current assets Stocks Debtors Cash at bank and in hand 14 15 81.278 53,020 260.011 82,145 81.758 31 5,162 394,307 479.065 Current Ilabllitles Creditors.. amounts falling due within one year 16 {126,5911 {119.5281 N•1 current assets 267,716 359,537 Totsl assets le8$ current Ilabllltles 322,135 413,196 Net assets excluding pension liabFlity Defined benefit pension scheme liability 322,135 (1,154.9501 413.1S6 (1,289.597) Total not Ilabllltles {832.8151 (876,4011 Charity funds Restricted funds unstrICted funds Total funds 17 17 {879.7911 1876.4011 1832,8151 (876,401) As Femiitted by $408 of the Companies Act 2006, the charity has not prepared ils own Statement of financial activities and related notes as ¢t prepares group accounts. The Companvs net movement in funds for the yeai was £43.58412024 - £171,756)). The Trustees acknowledge their responsibilities for complying with th8 requirements of the Act with respect to accounting records and preparation of financial Statements. The finandal statements were approved and authorised for issue by the Trustees and signed on thèir bèhalf by.. Date.. 01 I iai 3CL The notes on pages 21 to 42 fomi part of these financial ststements. Page 19
UNIVERSITY OF BRIGHTON STUDENTS UNION (A company limited by guarantee) CONSOLIDATED STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 JULY 2025 2025 2024 Cash flows from operating activities Nel cash used in operakn'ng activities 130, 168) 67,327 Cash flows from investing activities Purchase of tangib fixed 8$5ets 124,983) 18.4301 Net cash used in investing activities (24.9831 (8,4301 Cash flows from financing activltles Net cash provided by financing activities Change in cash and cash equivalents in the year Cash and cash equivalents al the beginning of the year 155,3511 315,162 58,897 256,265 Cash and cash equivalents at the end of the year 260011 315,162 The notes on pages 21 10 42 form part of these financial slalemenls Page 20
UNIVERSITY OF BRIGHTON STUDENTS UNION (A ¢ompany limitgd by guaréntg91 NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025 G•neral Infomiatlon The charitsble company, which is a public benefit entity under FRS 102, is consliluled as a company limited by guarantee, incorporated in England and Wales and gDvemed by its Memorandum and Articles of Association. The membets of the charitable company and the principal address are given in the Reference and Administrative Details of the Trustees, Annual ReporL The nature ol the charrtable companys operations and prinapal activities are included on page 1. Ac¢ountlng policles 2.1 Ba$1$ of preparnllon of Ilnanclal stat•monts The finanaal statements have been prepared in a¢¢ordance with the Char*b"es SORP IFRS 1021- Accounting and Reporting by Charities.. Statement of Recommended Pradice applicable to charities preparing their accounts in accordance wth the Finanaal Reporbng Standard applicae in the UK and Republic of Ireland (FRS 102) leffeclive 1 January 20191. the Finanaal Reporting Standard applicable in the UK and Republic of Ireland (FRS 1021 and the Companies Act 2006. UnweNty of Brighton Students Union meets Ihe definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless othemise staled in the relevant accounting policy. The Consolidated statemenl of financial activities ISOFAI 8nd Consolidated balance sheet consolidate the financial statements of the Company and Its subsidiary undertaking. The results of the subsidiary are consolidated on a line by line basis. The Company has taken advantage of the exemption allowed under section 408 of the Companie5 Act 20( and has not presented ils own Statement of financial activibes in these financial statements. The presentation cuTnCY is pounds sterling, which is the functional ¢urrency of the chafity. Monetary amounts in these finan¢ial staiemenls are rounded to the nearest pound. 2.2 Going concern At the time of approving the financial statemer¢ls, the trustees have a reasonable expectation that the company has adequate resour¢es lo contr'nue in operational existen for the foreseeable future. Thus the trustees continue to adopt the going CA)ncem basis of accounting in preparing the finanejal slatemenls. Additional consideration by the trustees is dY8cbsed within the Trustees, Report. Paqe 21
UNNERSITY OF BRIGHTON STUDENTS UNION IA company lirnited by guaranteo) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025 Accounting policies Icontinuedl 2.3 Income All income is recognised once the Company has enlillement to the income. il is probable that the income will be reiVed and the amount ol income recewable can be measured reliably. Grants are included in the Consolidated statement of financial athvilies on a receivable basis. The balance of income received for specific purposes but not expended during the period is shown in the relevant funds on the Balance sheet. Where income is received in advance of enlillement of receipt, its recognition is deferred and included in creditors as deferred income. Where entitlement otturs before income is received, the income Is accrued. Gifts in kind donated for dislribubon are included at valuation and recogni5ed as income when they are distributed lo the projects. Gifts donated for resale are induded as income when they are sold. Donated facilities are included al Ihe value lo the charitable company. where this can be quantified, and a third party is bearing the cost. 2.4 Expendlture Expenditure is recognised once there is a legal or collslru¢live obligation to Iransler economic benefit lo a third party, Il is probable Ihal a transfer of econornic beneliis will be required in selllemer>l and the amoiint of the obligation can be measured reliably. Expenditure is classified by aclivily. The costs of each activity are made up ol the total of direct costs and shared costs. inclLJding support cosls involved in undertaking each activity Direct costs attributable lo a single activity are allo¢aled directly to that activity. Shared costs which conlribule lo more than one activity and support costs wh1ch are not attributable lo a single activity are apportioned beeen those activities on a basis Gonsislent with the use of resOUrs. Central staff costs are allocated on the basis of lime spent, and depreciation charges allocated on the portion of the as5eYs use. Expenditure on raising funds includes all expenditure incurred by the Group lo raise fund5 for ils charitable purposes and includes costs of all fundraising activities events and non-charitable trading. Expenditure on ch3rilable activittes is incurred on direcuy undertaking the activities which furthef the Group's objectives, as well as any associated support costs. All expenditure Is inclusive of irrecoverable VAT. 2.5 Taxation The Company is ConSered lo pass the lesls set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore il meets the definition ol a charitable company for UK corporation lax purposes. As such ils income and gains fallings due under sectson 471 10 489 of the Corporation lax Act 2010 or section 256 of the Taxation of Chaigeable Gains Act 1992 are exempl from corporate tax to the exienl that they are applied to its charitable objectives. Page 22
UNIVERSITY OF BRIGHTON STUDENTS UNION {A company limlted by guarantee NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025 Accountlng pollcles {¢ontlnuod) 2.6 Tanglble fixed assets and depreclation Tangible fixed assets Cx)sling £1,000 or more are capitslised and rewjnised whon fvture economic benefits are probable and the cost or value of the asset can Èe measured reliably. Tangible fixed assets are initially recognised at cosl. After recognibon, under the cost mojel, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a tangible fixed asset into its intended woting condition should be included in the MeasuMent of o)st. Depreciation is charged so as to allocate Ihe cost of tangible fixed assets less their residual value over their estimated usefvl lives. . DepCiatIon is provided on the following basts.. Fixlures and fittings Computer equipmenl 200k Straght line 200A StrabJhl line 2.7 Investments Fixed asset investments are a form of financi81 instnErnenl and are initialty recognised al thr transaction cost and subsequently measured at fair value al the Balanc sheet dale, unless the value cannot be measured reliably in which case it is measured al c05t less impairrnent. Investment gains and losses, whether realised or unrealised, are combined and presented as 'GainsJlL05s&s1 on investments, in the Consolidated slalement of financial activities. Investrnents in subsidianes a valued at cost less provision for impairmenL 2.8 Stocks Stocks are valued at the lower of cost and net realisable value after making due all¢)wance for obsolete and slow-moving stocks. Cost includes all d1ct costs and an appropriate proportion of fixed and variable overheads. 2.9 Dobtors Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. 2.10 Cash at bank and in hand Cash at bank and in hand includes cash and short-temi highly liquid investments with a short maturity of three months or less from the dale of acquisition Of opening of the deposit or similar account. Page 23
UNIVERSITY OF BRIGHTON STUDENTS UNION IA company 14mited ty guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025 Accounting pollcles {continued) 2.11 Liabilities Liabilities and provision8 are recognised when there is an obligation al the Balance sheel dale as a result of a past event, it is probable Ihal a ITansfer of economic benefit will be required in selllemenl, and the amounl of the settlement can be eslimaled reliably. Liabiliti'es are recognised al the amount that the Company anticipates il will pay lo selue the debt or the amount it has ceiVed as advan payments for the goods or ServIS il musl provide. Provisions are measured al the besl estimate of the amounts required to settle the obligation Where the effect of the lime value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tsx discount rale that reflects the risks speofic lo the liability. The unwinding of the discount is reco9nised in the Consolidated statement of financial aclivib.es as a finance cost. 2.12 Financial instruments The Group only has financial assets and financial liabslities of a kind that qualify as basic financial Inslrumenls. Basi¢ financial Instruments are initially fec(NJnised al Iranbaclion value and Subsequently measured al their selllement value wlh the exceplK>n ol bank loans which are subsequently measured at amortised cost using the effective interest method. 2.13 Penslons The University of Brighton Students. Union participates iri the Students, Union Superannuation Scheme ISUSSI, a defined benefit multi-employer pension scheme. which is externally funded and conlraeled out of the State Second Pension. SUSS is valued at least every three years by a professional qualified independent actuary with the rates of contribution payable being delemiined by the Iruslees of SUSS on the advice of the actuary. The 2022 valuation recommended a monthly contribution lequirement by each participating employer expressed in monetary terms intended lo clear the ongoing funding defi.cit. As 2 consequen under FRS 102, the University of Brighton students. Union has Tecognised a liability in the balance sheet equal to the nel present value of fijture deficit reduction payments. These payments a discounted to the present value using the mafket yield on high quality bonds. The charitable company also makes contributions into 2 group peisonal pension plan with Aegon and additionally participates in NEST The Aegon scheme is available to cert8in employees. while the NEST scheme is available to all employees The assels of those defined (x)nlribulion pension schemes are held separately from those ol the charitable company in sndependent trustee- administered fijnds. The amount charge lo the Statement ol financial activities in respect ol pension costs is the conlribubons payable for the year. Page 24
UNIVERsrrf OF BRIGHTON STUDENTS UNION {A company limltgd by guarantae) 14OTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025 Accounting polici¢$ 1¢ontinu> 2.14 Fund accounting General funds are unrestricted fvnds which a availalje for us8 at the discretson of the Trustees in rtherance of the general objectives of the Group and which have not been designated for other purposes. Designated funds comprise unrestricted funds that have been sel aside by the Trustees for particular purposes. The aim and use of each designated fvnd is set out in the notes 10 the financial statements. Restricted funds are funds which are to be used in accordance with specffic restri¢tions imposed by donors or which have been raised by the Group for paitular purposes. The costs of raising and administering such funds are charged against the specific fund. The alm and use ol each restricted nd is sel out in the notes lo the financial statements. Crltlcal accountlng è8tlmat¢s and areas of Judgmgnt Eslimales and judgments are continually evaluated and are based on historical experience and other factors. including expectations of future events that are btslieved lo be reasonable under the circum5tance$. Critical accountin9 estimates and assumptions.. The Company makes estimates and assumption5 conceming the fvture. The resulting accounty'ng e$limates and assumptions will. by definition, seldom equal the related actual results. The eslimales and assumptions that have a significant risk of causing a material adjustment lo the ¢arrying amounts of assets and liabilities within the next finanaal year are discussed below. The estimates and assumptions that have a significant risk of causing a material adjustment to the carying amounts of assets and liabilities withln the ne financkql year are those used by the scheme actuary in calculating the UnNersity of Brighton Students, Union's ports.on of the SUSS defined benefit pension scheme liability. In the opinion of the trustèès, there are no other estimates and underlying assumptions in the application of accounting policie$ that are consKlered to be critical, because they either require a signifi¢anl amount of management judgement or the results are material to the charitable company's finanaal stalemenls. Page 25
UNDIERSITY OF BRIGHTON STUDENTS UNION (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025 Income from donations and legacies Restrfcted Unrestricted funds funds Z025 2025 Total funds 2025 t)onalions from other funders Grant of serviced accommodation Block grant from Ihe University of Brighton 75,000 41,925 302,451 1,149,996 116,925 302.451 1,149,9 75,000 1,494,372 1,569.372 Reslricled UnEslricled funds fund5 2024 2024 Total funds 2024 Donations from other fvnders Granl of Seld accommodation Block grant from the University of 8righlon 75,000 12,528 291,380 1.149,996 87.528 291,380 1.149,996 75,ooa 1,453.904 1,528,904 Income frorn working with students Unrestricted funds 2025 Total nds 2025 Cafes and shops Enlertainmenls and events 996.546 74.309 996,546 74,309 1,070,855 1,070,855 Page 26
UNIVERSITY OF BRIGHTON STUDENTS UNION (A company Ilmltsd by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025 In¢ome Irom working with students Icontlnuedl Unrestnded funds 2024 Total fvnds 2024 Cafes and shops Entertainments and events 1,000,171 78,832 1.000,171 78,832 1.079,003 1.079,003 Income from other Iradlng actlvnles Income frorn non Charltable tradlng actlvllles Unrestrlcted funds 2025 Total funds 2025 Commercial marketin9 sponsorship 74,017 74,017 Unrestricted fun(ts 2024 Total funds 2024 Commer¢ial marketing sponsorship 82,726 82,726 Page 27
UNNERSITY OF BRIGHTON STUDENTS UNION (A company limited by guarantee NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025 Raising funds Unrestrieted funds 2025 Total funds 2025 Commercial activities.. Direct costs Dire¢l staff costs Support stalf costs Rent 22,643 8,806 19,523 500 77,128 22,643 8,806 19,523 500 77,128 Other support costs 128.600 128.600 Unreslricled funds 2024 Total funds 2024 Direct costs Direct staff costs Supwrt staff costs Rent Oihel support costs 16,289 6.335 18,428 500 16,289 6,335 18.428 500 79,304 79,304 120,856 120,856 Page 28
UNIVERsifY OF BRIGHTON STUDENTS UNION (A company limlted by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025 Costs of worklng wlth studonts Restrictod Unrestrlcted funds funds 2025 2025 Total funds 2025 Cafes and shops Entertainment and events Academic experience. advice and wellbeing Campus and Community Other student activities Governan costs 1.019,992 55.270 420.522 1.019,992 55,270 420,522 75,fy)0 801,338 137,315 75.000 801,338 137,315 75,000 2,434,437 2,509,437 RestriGted Unrestricted funds funds 2024 2024 Total funds 2024 Cafes and shops Entertainment and events Academ experience, advice and wellbeing Campus and community Other 5tud8nl activities Govemance costs 1,1)09,D93 60,836 41)0,014 1.009,093 60,836 400.014 75,000 767.366 132,835 75,000 767.366 132,835 75,000 2,370,144 2.445,144 Page 29
UNIVERsifY OF BRIGHTON STUDENTS UNION (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025 Auditor5. remuneration 2025 2024 Fees payable lo the Company's auditor for the audit of the Company's annual accounls 16,560 17.118 Fees payable to the Company'5 auditor in respect of.. Taxation compliance serVIS 805 750 10. Staff costs Group 2025 Group 2024 Company 2025 Company 2024 Wages and salaries Social sècurity costs Cor.tribulion lo defined contribution pension schemes 1,264,066 105,403 1.164,896 91,047 1.264.066 105,403 1,164,896 91,047 39,022 41.187 39.022 41,187 1,408,491 1,297,130 1,408,491 1,297,130 Of the total Wages and salaries, £250,17212024." £204,581) relales to Casual 51udenl staff employed by the Group. During the year, £40,82512024'. £Nill was paid in relalion lo lermination payments. This amount has been included within Wages and salaries above No amounts were ou151anding at the year end in respect of these. Page 30
UNIVERSITY OF BRIGHTON STUDENTS UNION IA Company Ilmfted by guaranlo01 NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025 io. staff costs (continued) The average number of persons employed by the Company during the year was as follows.. Group 2025 No. Group 2024 No. Cafe$ and shops Enlertainmenls and events Academi¢ experience. advice and wellbeing Campus and community offi and management Sabbatical Officers Raising funds Casual student stsff 11 11 65 58 95 90 The number of employees whose employee benefits lexduding employer pension costs) exceeded £60,000 was.. Group 2025 No. Group 2024 No. In the band £80,001- £90,000 The total amoLtnt of employee benefits received by key management personnel for Iheir servi$ to the ¢harilable company during the year amounted to £198.27212024.' £186,673) and the charitable company incurred employers, national insurance contribution costs of a further £23,52312024'. QO,5371 in relation lo Ihe employment of these same members of staff. 11. Trustees. rgmunoration and •xpenses During the year, the Sabbalical Trustees have been paid nEneratiOn from an employment with the Company. The value of Trustees, remuneration and other benèfits was as follows.. 2025 O Dada Remuneration Pension conlribubons paid Remuneration P8nsion contributions paid Remuneration Remuneration Pension contribub'ons paid 23.613 302 26,154 604 23,613 23.613 945 A Ononiba O Atomon F Emmanuel Page 31
UNIVERSITY OF BRIGHTON STUDENTS UNION IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025 11. Trustees. remuneration and expenses (continued} M Nana Kana Remuneration Pension contributions paid Remuneration Pension contributions paid Remuneration Pension conlributs.ons paid 1.306 52 N Spence 2,772 111 2,669 107 R Birch During the year ended 31 July 2025, Sabbatical OffKer training costs lolalled £4,71212024.. £5,7521- 12. Tangible fixed assets Group and Company Fixtures and fittings Computer equipment Total Cost or valuation Al 1 August 2024 Additions 228,828 20,126 12.804 4,857 241,632 24.983 Al 31 July 2025 248,954 17661 266,615 Depreciation Al 1 August 2024 Charge IOF the year 182,484 21.081 5,491 3,142 187.975 24.223 At 31 July 2025 203,565 8.633 212,198 Net book value At 31 July 2025 45,389 9,028 54,417 Al 31 July 2024 46.344 7,313 53,657 Page 32
UNIVERsiff OF BRIGHTON STUDENfs UNION IA company limited by guarantse) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025 13. FIX asset Invostm•nts Investments $ub6ldlary ¢ompanle¥ Company Cost or valuation At 1 August2024 At 31 July 2025 Prlnclpal subsldlarles The following was a subsidiary undertaking of the Company.. Namè Company number Reglst¢red offlce or prlnclpal Prlnclpal actlvlty place of business BSU Enterprise Limited 09242214 Cockcroft Builijing, Lewes Road, Provision of Brighton. England, BN2 4GN commerual 5eryi¢es Class of sharo$ Holdlng Includod in consolldatlon Ordinary 100% Yes The financial results of the subsidiary for the year were.. Nam• Income Expendlture ProfiUILoss) forthe year Net assets BSU Enterprise Limited 1.143.624 11,075,262) 68,382 20,609 14. Stocks Group 2025 Group 2024 Company 2025 Company 2024 Finished goods and goods for resale 81,276 82.145 81,276 82,145 Page 33
UNIVERsrrY OF BRIGHTON STUDENTS UNION (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025 15. Debtors Group 2025 Gmup 2024 Company 2025 Company 2024 Due within one year Trade debtors Amounts owed by group undertakings Prepayments and accrued income 38,828 5,988 38,828 5,988 47,753 28,017 14,192 28.017 14.192 53.020 34,005 53,020 81.758 16. Creditors.. Amounts falling due within one year GfOUP 2025 Group 2024 Company 2025 Cofflpariy 2024 Trade Creditors Amounts owed lo group undertakings Other laxalion and social security Othei creditors Clubs and soc¢eties funds Accruals and deferred income 18.208 36,543 18,208 20,609 38,306 16,386 11,825 21,257 36.543 38,306 16,386 11,825 21.257 28,058 5,855 9,850 39.222 28,058 5,855 9,850 39.222 105,982 119,528 126,591 119,528 Amounts owed by group undertakings are interest free. unswured and repayable on demand. Page 34
UNIVERsrrf OF BRIGHTON STUDENTS UNION IA ¢ompany limlted by guaiantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025 17. Statoment of fund8 Statement of funds- current year Balance at 1 August 2024 Transfers Inlout Galnsl B•lanc• at (Los8e8) 31 Juty 2025 Income Expenditure Unr8strict8d funds Doslgnated funds Cèpital reserve nd Contingency reserve fund Development reserve fund SUSS pension defiGit fund 53.657 124.2231 24,983 54.417 100.000 100.000 211,784 {23,459} 188,325 {1.289.597} 134.647 11,154,950) 1924,1561 124,2231 136,171 1812,208 General funds GenerdS fund 2,639,244 {2.538,8141 1136,171) 35,741 Total Unrestrlcted funds {924,156) 2,639,244 12,563,037) 35.741 {812,2081 Restricted funds Retention fvnd 75.000 (75,0001 Total of funds 1924.156) 2,714,244 12,638,037) 35,741 1812,2081 Page 35
UNIVERSITY OF BRIGHTON STUDENTS UNION {A tompany limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025 17. Statement of funds (continued) Statemgnt of funds- prior year Balance at l August 2023 Transfe in/out Gain Ba18nce al (Losses) 37 July 2024 Income Expenditu Unrestri¢ted lunds Designated funds Capital reserve fund Contingency reserve fund Development reserve fund SUSS pènsion deficit fund 70,631 125,4041 8,430 53,657 100,000 100,000 164,374 47,410 211,784 11.277,1461 112,4511 11,289,597) 1942.1411 125.4041 43,389 1924,1561 General fund$ General fund 2,615,633 12,465,596) 143,3891 1106,6481 Total Unrestricted funds 1942.1411 2,615,633 12,491,000) 1106,6481 1924,1561 Restricted funds Retention fund 75.000 175.0001 Total of funds 1942,1411 2.690,633 12,566,000) 1106,6481 1924.1561 Page 36
UNIVERsifi OF BRIGHTON STUDENTS UNION (A company limitsd by guaranteo NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025 17. Statement of funds {contlnuedl The Capital reserve ftjnd was sel up to separately idenlify the Charitable companls fixed assets that have been purchased from the charitable company's own restricted funds. Transfer5 are made lo or from this fvnd to cover movements on unrestricted fixed assets such as addits'ons, disposals and depreciation so that the closing balan on the fund represents the nel b)ok value to the unrestri¢ted fixed assets involved. The Contingency reserve fund was sel up to set aside an arnounl to cy)ver L¢nforeseen or emergency expenditure. The amount carried foward in this fund 1$ reviewed annually by the trustees. The balance of the general fvnd that is not used for any other purwses is transferred to the Development reserve fund to be carried forward and used to further devebp the charitable activities of the Charitable company. The SUSS pension defictt fund was set up to separately identhfy the reseNes deficit arising from the need to account for a provision in respect of additsonal SUSS employer pension contributions required to be paid in future years by the charitsble company that are intended lo eliminate the ongoing and persislenl deficit in the overall funding of the SUSS multi-employer defined benefit pension scheme. Paqe 37
UNIVERSITY OF BRIGHTON STUDENTS UNION IA company limlted by guarant99) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025 18. Summary of funds Summary of funds - cuttent year Balance at 1 August 2024 Transfers inlout Gainsl Balance at (Losses) 31 July 2025 Income Expenditure Designated funds General tunds Restricted funds (924,1561 124,2231 12,538.8141 175,0001 136,171 1136,1711 1812.2081 2,639,244 75,000 35,741 1924,1561 2,714,244 12,638,037) 35,741 1812,2081 Summary of funds- prioryear Balance al l Aug(Isl 2023 Translers in/oiil Gains/ 8813nce at (Losses) 37 July 2024 Income Expendil(Ire Designated funds General funds Restricted funds 1942.1411 125,4041 2,615,633 12.465,5961 75.000 175.0001 43,389 143,3891 1924,1 %) 1106,6481 1942,1411 2,690,633 12,566,000) {106,6481 1924,156} 19. Analysis of net assets between funds Analysis of net assets between funds- current year Unreslricted funds 2025 Total funds 2025 Tangible fixed assets Curienl assets 54,417 54,417 394,307 394,307 1105,982 1105,9821 11,154,950) 11,154,950) Creditors within one year Provisions for liabilities and charges Tolal 1812,208} 1812,2081 Page 38
UNIVERSITY OF BRIGHTON STUDENfs UNION (A company Ilmlted by guarantsel NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025 19. Anatysis of net as50ts b•tw•on funds (continued) Analy$Ss of net assgts bgtwe•n funds - prior year Unreslrict6d funds 2024 Total fvnds 2024 Tangible fixed assets Cuffent assets Creditors due wthin one year Provisions for liabilities and charges 53,657 53.657 431,312 431.312 1119,5281 (119.528) 11.289,S971 11.289,5971 Total {924,1561 1924,1561 Recon¢lllatlon of net movement In funds to net cash flow from operating adivltles Group 2026 Group 2024 Nel income for the year {as per Statement of Financial A¢lNiIEsl 76,207 124,633 Adjustments for: Depreciation charge$ A¢tuarial gainslllossesl Decreasellincrease) in SkS Decreasellincreasel in deblo Defftase in creditors (Decreaseifincrease In provisions 24.223 35.741 25,404 (11X,6481 (171} 32,117 (2Q,4581 12.450 119,0141 113,5471 1134,647} Net cash provlded byl{used Inl operatlng aetlvltle$ {30.1681 87,327 21. Analysis of cash and cash equfvalents Group 2028 Group 2024 Cash in hand 260,011 315.162 Page 39
UNIVERSITY OF BRIGHTON STUDENTS UNION {A cornpany limited by guaranteel NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025 22. Anatysis of changes in net debt At 1 August 2024 Cash flows At 31 July 2025 Cash al bank and in hand 315,162 {55,151} 260,011 Page 40
UNIVERsiff OF BRIGHTON STUDENTS UNION (A company Ilmited by guarant•¢} NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025 23. Penslon commltments UBSU participates in the Students, Union Superannuation Scheme, which is a tjefined benefrt scheme whose membership consists of employees of students. unions and related bodies throughout the country. Benefrts in respect of service up to 30 September 2003 are aed on a 'final salary. basis, with benefits in respect of service from 1 October 2003 accruing on a Career Average Revalued Eamings (CARE} basis. With effect from 30 September 2011 the Scheme dosed to fijlure acciual. The S¢heme underwent an actuarial valuation as at 30 June 2022 and shows that the market value of the Scheme's assets was £106.7m with these assets representing 44'h of the value of benefits that had accrued to members after allowing for expected fytu increases in earnings. The defictt on an ongoing funding basis amounted to £136.6m. The assumptions which have the most significant effect upon Ihe results of the Valuation are those relating to the rate of retrjm on investments and the rates of increase in salaries and pensions. The following assumpb'ons were applied at 30 June 2022.. The investment retum would be 4.0% per annum before retirement and 2.0% p8r annum after retirement. Pensions acuuing on the CARE basis would revalue at 3.6% per annum. Present and fLrture pensions would increase at rates specLfj¢ by Scheme rules wlh appropnate assumpts'ons where these are dependent on inflation. The 2022 Valuation rewmmended a monthly contfibution requirement by each Participat5ng Employer express in monetary term5 intended to clear the ongoing funding defiul. EmployeT contributions were inaSed by 50h from 1 October 2023. Contributions will increase by a further 5% each year thereafter unb'l the end of the deficit recovery period, which is expected lo be in May 2037. Surpluses or defiuts which arise al future valuations will also impact on UBSU'S future contribution commitment. In addOn to the above contributions. UBSU also pays its share of the Scheme's levy lo the Pension Protection Fund. FRS 102 and Charities SORP IFRS102) requires the charitable companls share of past service shortfall is reffected in the financial statements. Based on the most recent valuab'on, the charitable company contribullon to eliminating the shortfall was £98,907 for the year ended 31 July 202512024.. £94,197) The statement of financial position as at 31 July 2025 includes a liability of £1,154,950 12024.. £1,289,597) which represents the net present value of all future contribuli)ns towards eliminating this shortfall for which a discount rate of 5.33%12024.. 4.13%) has been applied. Unre8tri¢ted fund¥ 2025 Total funds 202S Opening defined benefit obligation Contributions towards the defi¢it Revaluation of pension deficit 1,289.597 198,9Cel (35,7411 1,289,597 198,906) {35.741) Closlng deflnod b6neflt obllgatlon 1,154.950 1,154,950 Page 41
UNIVERSITY OF BRIGHTON STUDENTS UNION IA Company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025 Unrestricted funds 2024 Total lunds 2024 Opening defined benefit obligation Contributions towards the defial Revaluation of pension deficit 1,277.146 194,1971 106,648 1,277,146 194,1971 106,648 Clowng defined benefit obligation 1.289,597 1.289,597 24. Related party transaetlons Dunng the year, the chantable company tjndertook various transactions on behalf of its trading subsidiary, BSU Enlerpnse Limited, 3 company incorporated in England and Wales (Company Tegistratn number 0924?2141 Al the balance sheet dale. £20,60912024. £47,753) was owed lo12024'. by) BSU Enterprise Limited. The subsidiary will recognise a Gift Aid donation in the next financial year ol £20,607. The Union is in receipt of a recurrent grant from the University 01 £1,149,99612024.' £1.149 9961 during the year ended 31 July 2025. The University also donated the use of University premises with a considered value of £302,451 12024.. £291,380) This is recognised within Facilities in Kind income. There We no other related paty transactions during the year. Page 42