REGISTEREO COMPANY NUMBER: 10834450 (England and Wales) REGISTERED CHARITY NUMBER: 1173858 Report of the Trustees and Flnancial Statoments for the Ythr Ended 31 July 2024 CITY ST GEORGE% STUDENTS, UNION Knox CrDpper LLP 153-155 London Road Hemel Hempstead Herifordshire HP3 9SQ GITY 3T GEORGES STVDENTS. iINION Contents of the Flnanctsl Statements for the Yoaf Ended 31 July 2024 Page Report of the Trustees Report of the Independent Auditors Statement of Financial Activities 1 to 11 12 to 14 15 Balance Sheet 16 Cash Flow Statomont 17 Notes to the Cash Flow Statement Notes to the Financial Statements 18 19 to 25 CITY ST GEORGE'S STUDENTS. UNION (REGISTERED NUMBER: 108344501 Report of the Trustees for the Y•¥ Endgd 31 Juty 2024 Union Inforniatlon Charitabl• Status City, UnIver￿ty of LorKlon Students. Union (￿ UINon) is an irwr*d (*arity established under the Educats'on Act. The Union is a company limited by guaranlee registered in England and Wales on 23 June 2017 (company number lo8344￿) and a charity registered C￿ 19 JLAY 2017 with the Charity Commission {charity number 11738&8). The tharitatde company re￿aCeS Cty University Students, Union {charity number 1149588) and began operab'ng on 1 August 2017. The Unicm is wvemed ty its Artides of Association and accompanying Byeiaws. On 1st August 2024 the Union merged with St George's St￿jents. Unic￿. Prior to the merger, the Union changed its nam8 to Cty Sl George's StLhYents' Unicffi on 25th Juty 2024. CITY ST GEORGE'S STUDENTS. UNION {REGISTERED NUMBER: 108344501 Report of Ihe Trustees for the Year Ended 31 Juty 2024 OBJECTIVES AND ACTivmES Objectives As defined in the Memorandum and Artides of Associati￿, the objeds of the Union are advancement of education of Students al City, University of London for the public benefit by: a) Promoting the interests and welfare of StLKlents al City. Universty of London during their course of study and representing, suppOr￿ng and advising Students. b) Being the recognised representative channel L)elw￿n Students arKI City. University of Lond￿ and any other external tÉ•dies: and c) Prowding social, (￿ltUral, sporting and reLYeational actI￿￿S and forums for discussions and debate for the personal development of its Students. In pursuit of these objectives. the Union represents almost 20,tI)O students to the University. the local community, and nationally {vsa the Nati￿al Union of Students). The Trustees confimi that they pay due regard to the guidance on Public Benefit wblished by the Charity Commission in exercising their powers and duknes. Activlties The Union continues to represent its members on a rarye of committees across the UnNersity. at relevant sector meetings and al NUS National Conference. The Union works with the Universty to support the tralnirNJ and (kvelopment of Programme Rcprcsentatives who are elected students from every course. Studenl Union OffieEr5 of respective schocls. viith staff support, have a parti￿lar rde in leading the supwrt for these Student Leaders, induding.. Preparing and delivering multiple trainiTr3 seSsi￿s. • Working with Assembly Members to increase COILak)rati(￿ vlilh Programme Representstive feedback in Schools. . Scheduling one-to-one meetings for Progrdmme Representatives vho want additional supF4)rt in their role. . Working with the Union A￿￿￿ servi￿ on any complaints from Programme Representstives. . Arranglng rewa￿ diid reo)gnition events for Programme Representatives. . Delivering GetHeard@cty to Sup[￿ the abilty for StU￿ts to promde feedback on their experience in real time. Alongside sludent representation. the Union w￿S bmth Sbjdents. Union offi￿r5 and Students to develop and progress campaigns to improve the student exPerie￿e. The Officer team. with staff support, lead in delivecing Gampaigns- induding.. . Continued cost of Living support. as one of the UnIC￿'S Assernw wority lobbying for more cost-saving initiatives for students . Equity, DNersity and Inclusion on a range of aWarenW￿ and pr(Factive campaigns and events for Ihe divefse student community at City and . Events and actimties to increase community at City. The Union Advi￿ servi￿ offers representation to students cn academic appeak5. ￿M[AaInts and diwplinary matter8; to Programme Repre.qg.nlatives: and to students making group complaints. The Union Admce se￿1￿ has delivered group appeal and extenuating arcumstances workshops to address the high demand of adm￿ requests. A series of 'lecture shouts, on Academic Misconduct has been targeted wth programmes to provide preventative guidance on how lo avoid academic miscoThluct and seek limely and appropriate support wthin the univerw as well as Ihrough Ihe Union. The Money Advice sem(% has continued to offer 1.1 money management guidan(E and support lo students and has collaborated wilh the ￿aCkbUIl10n free finartial guidan￿ ￿atrO￿n to sIgn￿$t students lo helpful budgeting resources. The ongoing interest-free. short-temi loan scheme allovts students to boffow up to £200 lo bridge immediate finarrial concems. Across the year 2023124, £1.5￿ was lent lo students in need. The serwce is staffed by four staff members. The service wc*ks wrth sludents throusth all levels of £1 given case up to Ihe Office for Independent Adjudicators (OIA). Py2 CITY ST GEORGE'S STUDEpifs' UNION {REGISTERED NUMBER: 108344501 Report of the Twstees for the Year Endgd 31 July 2024 The Advi￿ SeNce continue5 to be ac￿edIted thffj￿h the A(fvice Qualty Stsndards kit8mark and frIIow3 standards such as fitness to pracbce approved by prOfe￿onal bod￿5, in addition to University and Union regulations and FM)liaes. The Union continues to support a range of student whth ccmtinue to grow in engagement annually. including: . SOc￿ty and sport &JministraliLM for w￿1 over 200 ￿￿pS indudirKJ room INJokings, fixtures, online events support, extemal speaker aprxovals. committee electH)ns. and training and supwt. • A range of in-person events, irKludiThJ activity for Welcome 2023 and Qty Festswdl events. • Charitable fijndraising by so(iety groups and volunteers. . Our largest in-person SU Al￿ards. . A social sport program. crry ST GEORGES STUDENTS. UNION IREGISTERED NUMBER: 10834450) Report of the Trustees for th¢ Y•ar Ended 31 July 2024 STRATEGIC REPORT Achievement and ￿rfOrn￿nce This reporting year saw signfficant change in Ihe Union as we launched our new strategy. tod( over the delivery of club and S(￿la1 sport, launched GetHeard@Cty (a real time student Vol￿ platfomi), prepared to move to a new location with a new serwce model and most fijndamentslly carried out the necessary steps to merge with St George's Students. unic￿ on 1 ￿guSt 2024. Stratsgy - 202>2027 Our new and ambilious strategy sets a clear direction. vrilh an irKreased focus on a tailored student experien￿ and one that recognises the different barriers and thallenges facing City students. For more infoThation on the Students. Union strategy. wsil ￿.cSgsu.Co.Uk. The strategy vras developed to give the Union direction based ￿ extensive research and feedback from students. staff and stakeholders. Our Purpose . Make Every Day Better The Values We Live By . We Listen, We Leam, We Lead Trie Wdy We AGI . Evidence-led We will be insight driven and wll prioritise devdopirKJ a strong eviden￿ base when maktng key strategic decisions. . Open to change We change and aapl viith our student trx)dy. always queslionirvJ our ￿1)Ik to make sure we are delivering. We thrive on finding innovative Solutio￿ lo add fdlue to the experience al City. Not fearing failure We ty new things in the krK)wledge that not everything V•ryll %wrk first time. What matters is leaming from our experiencg and constanty seeking to impro￿. . Slriwng for equity and sustsinability We reccgnise that we do not all stsrt from the same place and must aCkn1J￿edge and adjust imbalances to achieve our ambition of equity. while also vthiThJ towards the UN Sustainable Development Goals. . A welcoming exrRrience Whatever or wherever the touchpoint will provide a vdccrfning and highquality Students. UnK)n, making a positive impact ¥.rrtr.i8 City. The Promises We Make • Promise 1.. Creating Community 'Crealing a thriving community ￿ere every St￿lent feels they bdong.. . Promise 2: Oelivering Change 'Delivering the changes students vrdnt to see to imtKove Iheir everyday INes at City St George's., . Promise 3.. Providing Support Providing high quality and ea￿lY acC￿ble support bthilst at City St George's and teyorKI.'? The Chief Executive reports to every meeting of the Board of Trustees on the progress of the strategy. Review of 2023124 The following highlights some of Ihe key projects and successes delivered by the Union in 2023124 to further the strategy and to continue lo deliver for students. Promiso 1: Creating Communty KPI Review.. 650/0 of students told us that they i¢entrty as beirvJ pan of a communty f*iiiated by Ihe sludetrts. uriiE)ri. Page 4 CITY ST GEORGE'S STUDENTS. UNION (REGISTERED NUMBER: 10834450) Report of the Truste•s for the Year End•d 31 July 2024 Sport 2023r24 was the ffirst year of the Union delivering Club Sport s￿la1 Swt. Tr unl￿ beI￿VeS Ihat sports play a vitsl role in bringing students together as a community. Engaging in swrts helps students develop transferable skills, improves their mental heallh. and keeps them active. This year has been remathable in achieving these benefits. In this year. the Union increased the number of teams from 26 to 28. had 415 sports club members, had 4202 individual students attend a CityActive session {swal sport). delivered 36 fr CtyAclive sessions for cost of living and supported 17 individLd high performing student athletes. Welcome 2023 The Unii)n delivered a range of actsvtbe5 and events to suprM)rt st￿ents during Welcome 23. build community and have a strong visible brand presence. The Union delivwed 70+ events during Wel()3me 23 includi multiple high engagement events such as Fresherfs Fair 15845 attendees). Sports and Societies in the Square {6(X) attendees) and Schod Meet and Greets {920+ attendees across 6 events). Néarly all the Union's community building activities for sbjdents w￿re tree lo att￿d. The unic￿ also successfvlly embedded swrts into the Welcome Week offer I￿uding free CityActive sessions, Sports Fairs and Fresherfs Fair. Union's Welcome 23 tKoJramme for students was SU￿esSfvl receiving wsitive feedb￿k from students in person, event feedback and in the Welcome to Cty evaluation gjrvey. In the survey, 9)% of students said they felt part of a community during Welccme. Societies arKI Events Societies continued to go from strength to strength. At the end of 2023124 the Union had 210 soueties wilh 6,986 society memberships a¢ross academic, cultural and tsith. and speaal interest ￿￿Ieties. Societi8s were particulady active in the year, ddivering a collecttve told of 711 events. Where fur¥Jin9 pemiitted. the Union also continued to deliver a range of flagship events, such as Ihe Winter Festival. 1SXi+ attendees. headline WOW. event was funded by City and had a range of festive games and actiwties for students to engage in. 96Yo of sludents vhwj atten¢Jed said the event made thern fed part of a communty. Promise 2 - Delivorlng Charwae KPI Review. 4th highest scoring students. union in LoThJon to represent stthfs academic interests in NSS 2024. Check-ins The student Check-ins project is a wellbeing and insigm projec* delivered by the Union that conducts telephone inteThiew calls with moslly new and retumirnj City students. Tl)e CIKyth-ill5 have been an ongolng temly project Sin￿ the pandemic year. offering students sUp￿rt inforrnalion and gathering insight into the temi experience. The calls act as a signposting opwrtunity to seal potential infoThation gaps to students on the various support and Servi￿ available to them and operates cfi a peer-to-peer 5UPWrt syslem wlh students handling calls. The project wrds delivered on campus by a team of 22 trained S￿dent check4n rxllers between Cttober 23 to 3 Novemter 2023. Over the 10*ay p￿riod. the Union made 7,892 calls to Cty students and compleled 1,876 ¢heck4ns in total. 1 in every 4 calls made VRS continued on to ccrfnplete a ¢heGk4n. The check4n calls colleclod fe8dbad( on various aspects of the experience in thc initial weeks of tern. Conversations were framed around campus experien￿, course experie￿￿. cost of living, student communications and student suppN)rt. A report and reoynmendations Y￿re prc*Juced and pre￿Ied to City. Elections The Union ran the 2024 Elections in temi two to elect ils new Student5. Union Offi￿r leam, Assembly Members and NUS Delegates. The vote was run from 26 Febnjary to 29 Febnjary 2024. The election had record levels of engagement, V￿th the h￿hest number of individual voters and highest percentage tumout. There have been sustained increases in engagement V￿th SttId￿ts from the entire Union this year bthich wll have led to this signrficant increase in Elections engaaement. crry ST GEORGES STUDENTS UNION (REGISTERED NUMBER: 108344501 Report of th• Trustses for th• Y•ar Ended 31 Juty 2024 GetHeard@City GetHeard@City is a new d￿rtaI ￿atro￿n thal students can use to give feedback. ask quests'ons and raise issues with PrograrnTne Reps, and share experiences v￿th other s￿dents. We worked dosely wth the University and Unilu to deliver this initialive and rdl out the plarfomi to students stsff in September 2023. GetHeard@City is available online or wa Ihe app. so St￿￿ents can use it to speak with other sludents about th￿r course and wder experiences here at cty and Ihey can stay c￿neCted to their academic wmmunities th on and off campus. The plarforyn supports Prc*Jramme Reps to enhan￿ th￿r rde as electe¢J representatives. bridging the gap students and staff by helFMng the fomer to contact and collect feedback from their cohort, and the latler to take construclive. ￿lUtion-Onented feedback to discuss and collaborate with staff. The platfomi is designed lo shov4rase hthv the studenl voice helps us to deliver change and irnprovements lo the student exF¢rien￿. It also enables us to be transparent ab(xrt how we close the feedback loop a￿1 respond to academbc insights. Promise 3- Providing Supp(xt KPI Review: 81 Vo of studails underslan(J how the Str4d￿ts. vnion can help thern, rf vthen needed. Employability The Union'8 new Leadcrship Skills Oevelopment Programm8 launched in February and March, spanning 5 Wednesday aftemoons. We had over 65 student signups and filled the 50 availa)le spaces. Natr'onal Careers Week tcok place from 44 March, where the Union ddivered Linkedln PrOfesS￿nal Photos and Linkedln Workshops. The UnK)n also continued to delrver the m￿r0 Placement Programme {MPP). Cost of Living a￿1 ￿neY National Student Money Week took [￿a￿ in March wth over XIO students attending and induded a Finanrial Wellbeing Fair focusing on cost of living. Money Debate, Sports Swap Shop, Piggy Bank Painting. online competibons and 1..1 bLKlgetin9 appoinlment for students. The Union also paid out £1590 via the short-tem loan v.hpmp to students and put £56.OIY) in student tKM*ets via emtAoyability opp)rtunities in the Union. Advice Service The Servi￿ has mainly been ocLupied wtth suppoiffjng students vthh responding to ￿deMiC misconduct allegations. we have seen a rise in students being accused of inappropriate use of Al in assessments. It has also been a period where we have had to nawgale ChaI￿ngeS y￿th r￿ types of cases, for example Sponsorship Withdrawal Apreals. We do not offer visa adwce but have been able lo support intemational students by explaining and evidencing their lack of engag￿nenV attendar￿e. The Advice Team handled 562 cases and ￿ /0 of students felt the admce that they recaved vrds clear and helred them understand what to do nexi. In collaboration ￿th the UnIv￿ty Generative Al V￿rkIng grtyjp, the Union organised a student-led Al debate laking place on 7 December with the topbc beirvJ What Flace does Al have in educati￿.. The event will be chaired by the Debate Society and have panel members Ir￿lUdIr￿￿ UX.Qty SoC￿ty, IEEE Robotics Society. Computer Science Society. Data Science & Al Sooety as well as a forrn of Al being a panel member ilself. Students and staff then had opwrtunty to vote on thich panel member they feel has conVin￿d Ihem the most. The Union Academic Misconduct Campaism v￿rking group will also be presenting at the start io remind stLKlents of academic integrity supwt available aw of the Tenn 1 assessment period. Tuming Our Ambitions Into Reality The strategy has a series of enablers to suppJt its implementation. The below highlights some of the progress in these areas. Visual Identity and Brand Review In August 2023. the Union launched tts r*w brand arKJ ￿SUal hjentity fr)IkMing a ￿ece of carried out by extemal consultants. The new brand is bright. embraces cKJr history and sets a dear ￿entity across t￿¥th our physical and digital communication plafforrns. PaJe 6 CITY ST GEORGES STUDENTS, UNION {REGISTERED NUIABER: 10834450) Report olthe Trustees for the Yoaf Ended 31 J￿Y 2024 New Webstte Design A new Web￿te design and functionality was Traur￿hed to refie(A the new tffand. The website wll g) thrO￿h full tender process in 2024125. Student Gateway The University had committed to investing millions in a new Spa￿ LvirvJing together the different student support SeN￿S across Ihe university. The Union successfulEy secured a new office space, meeting r￿ms, student common room. pcthast stLKlio. community Spa￿ and welcome desk and shop adIa￿nI to this development. Across 2023r24 the Union has (X)ntinuouS￿ engaged in the project to ensure the Spa￿ met the needs of Union and was ready to be occupied from September 2024. Addftlonal Actlvltles Carrled Oth In 2023124 Merger The most fundamental additiona actimty carried out in Ihe year related to the merger. Cty. University of London had agreed to rnerge wlih St George's Univw of Lond(￿ to fomi City St G￿rge.$. University of London on 1 August 2024. The result of this de(as￿n subsequently meant the Union had lo merge with St George's SbJdents' Union (SGSUI lo fom a merge(l UnK)n. *wld be (alled City St George's Students. Union (CSGSUI. It was agreed, Ma a Memorandum of UnderstarKIiThJ Ihat SGSU, as a charitable incorporated organisation. will voluntary wind up {dissolution} in accorclance ¥Mth section 31 of the SGSU Constitution. SGSU will then become a part of the Union. which will be renamed. In ac£ordance V￿th the Articles of Association of the Union. the Board of Trustees put a Proposal to the membership for apFffjval via referendum to amend the Articles of Association. The Proposal indLMJed'. • To change the name From l August 2024. Cty. Universty of London will go ty the name of City St George's, Unrversity of London. As a result of this. the Proposal recommended c*wiging the nam8 of the Union to refiecl this change and become City St George's Students, Union. . To Introdu￿ further guidance on subsidiary companies The existing Sl George's Students, Union had a subsirfiary ￿rnpany, which subj.ect to approval would transfer to the renamed City St George's Students, Union. The Prcposal amended Ihe Artides of Association to provide further guidance on subsidiary companies. . To include a provision for Student Mernbers. Meetings The Proposal recommended r&nststing the provision for st￿ Membws. Meetings in the Artides of Assooation. . To increase the number of Sabbatical Trustees arKJ Officers The new Cty St George's, Universty of London will have oN*r XMXI more stsjdents and many of those students wll be bawj at the camws in Tooting. As a result of this, the Proposal recommended increasing the number of Sabbatical Trustees and offi￿rS from fiyjr to fve, one Spa￿ reserv￿ for a student or Sabbatical Officer who studieslstudied wmarily on the University campus based in TcK)ting. . To increase the number of Lay Trustees The Proposal recommended increasing the number of Lay Trustees from fve to six. The Bye•Law's wll set Oul how one of Ihose Lay Trustees is connected to the Cty St George's. Univerrity of London prowsion based in Tooling. . To make other minor amendments to Ihe Arbdes of Association The Proposal recommended other minor amendments in addition to those detailed in the ProFN)sal. The amendmenls were provided in an atLqched tracked changed Artides of AssociatiC￿. Cfver the course of four days (2&28 March 2024), the referendum Do you agree th the Ftrcyosal to amend the Arbdes of Association?, was delivered and 1492 students voted ￿lch passed quoracy of 1077. 84.￿/. of students voted 'yes' and the refererKlum passed. Ckn Thursday 9 May. City Councsl in accordance ￿￿th the Articles of Associgtion and 1994 EdU¢￿tiOn Act also approved the revised Articles of AssocAation and subsequenly they were approved by the Company Law Members (Trustees). The amendments also received consent from Ihe Charity Commission to the rele￿an1 changes relating to the objects and trustee tenefits. CITY ST GEORGE'S STUDENTS. UNION (REGISTERED NUMBER: 10834450) Report of the Trustees for the Year End￿ 31 Juty 2024 In addition to many olher actions. the UnKm Wyef5 created a Transfer Agreement. vthich vrds approved by th students. union Board of Trustees. This came into effect from 1 August 2024. The Uni¢)n also updated all relevant Union p)licies and tye4aws to reflect the merger and new wthes V￿re appropriate. An extensive piece of work look place to map the requirements of the new merger students. union to ensure we have an accounting So￿are package that was fil for purpose. This work was agreed at the Finance and Commercial subcommittee of the Students. Union Merger Board and Ihe Union made the ne￿sSary steps to ￿￿opt Iplicit from 1 August 2024. Staff mefflber5 employed by St George's University of London, on behaff of SGSU. went through the TUPE process to transfer to the joint contr&X of employment betrhEen CSGSU and City St George's. University of London on 1 Augusl 2024. THE YEAR AHEAD 2024r25 will be the first year as a merged strKlents' union operaling as CSGSU and some of Ihe key projects and aims for 2024125 indude: . Ensuring Ihe existing strategy remains fil purp)se. . Moving into the new unic￿ Spa￿ and launching a se￿￿ model. • Merging the membership semos auoss the legacy students, unions. Implementing Iplicit across the Union. . Reviewing our resou￿ profile. . Launching a new brand as City St George's Students, UnK)n. . Further developing the 5FQrts progrdmme. • A ￿VIeW of our approath to EDI. Financial fevlew Our total incoming resources for the year were £2,214.234 (2023: £1,687.142) an increase of 31.710/0. This is mainly due lo the increase in the L￿C￿k grant of £440.613 . Income gerErated by Student Sports clubs and Societies incrc8scd by £39,323 due to in¢>eosing engagement of studènt& leading to increased actimty by Clubs and Soaeties. Our largest swrce of ir￿rne continues to be our tAo(* grw)C vthich saw an increase lo £1,642,047 12023: £1,203,450). The increase in the block grant is due to an increa* in staffing levels and the addition of £275.142 ring fenced funding allocated to Sports. There was an ￿ditional grant from Cty University of £64,014 to fiJnd Merger Costs. Income from charitable activitse5 for students £144.459 {2023'. £83.735). 2024 indudes InCcff￿ from Sports. Total resources expended V•Ere £2,200,054 {2023: £1.679.933) an incre8se of &).96010 on last year. This was mainly due lo an increase in expenditure in Sports of £412,167 and I￿reased expenditure in representation and democracy of £90,973. The Union effectively managed its funds. achieving a small surplus of £14.180 This resulted in the year end reserves increasing from £574.108 in 2023 to £588,288 in 2024. The Union acts as custodian for furKls Ta￿d by sbjdent societies. These fvnds are IEld separately in sports dub & soaety private accojnts and carried forward each ffinanual year. CITY ST GEORGES STUOENTS. UNION {REGISTERED NUMBER: 10834450) Report of the Trustees for the Year Ended 31 July 2024 STRUCTURE. GOVERNANCE AND MANAGEMENT The Union exercises its duty under the Educats'on Ad 1991 takes reasonaik rneasures and conduct itself in accordance wth standard practice in the sector to ensure Ihat the unl￿ operates in a fair and democratic manner and is accountable for its finances. The Board of Trustees is made up of four Sabbats.￿l Trustees who are elected by a cross-campus ballot of Ihe Sttldent Members of the Union on an annual bags. The Sabbatical Twstees rw£ive comprehensive training from the National Union of Students and the Union's staff team. Tvn Student Trustees and five Lay Trustees also sit on the Board of Trustees and are appointed by the Appj'ntments Committee in accordance th the Arbdes of Association. The th￿e Sabbatical Trustees are ￿Munerated as aulh0ri5ed by the Educalion Acl 1994 and each cannot serve a lenn which exceeds a duration of years. All new Trustees are proiided with an induction d(Kument detsiling theyr responsibilthes and infr￿allOn about Iheir role in the Union. Each Trustee meets wth the Ch￿f Executive and is offered an opportunity lo access training tailored to Iheir needs. Sabbalical Trnstees all receive a full4ay Trustee trainirvj as part of their induction. The Union's Board of Trustees is responsible for detenninirwJ the Purpose and values of the Union aThJ remains accountab￿ lo the membership of the Union for these purposes. Trustees ensure the effective arKI efficient use of resources,. approve annual budgets: monitor organisational strategies, wlicies, and regulations.. put in pla￿ effective systems of Cc￿tr￿ and accountability: and appoint the Chief Executive and an extemal auditor. The Board of Trustees delegates some of its authority to the Chief Executive for operational decision4makin9 and accountability viithin the Union. The Assembty. made up of elected members. has the highest SFecific reswnsibilty for student policy oversight and holding elected officers to arxount. It reF*esents all students at the highest level and ensures all decisions are made in ihe best interests ofthe stLMj￿t tx)dy. The Trustees have examlned Ine major Str￿e9￿, ￿sinesS and operational fisks Ta￿d by the Union. A risk register has been established and is regularly updated. Budgetsry and intemal risks have been minimised by the implementation of financial wccedures which indude authorisation limits. Policie5 and procedures are in pla￿ lo ensure comtliance wth heallh and safety, diversty and other legislation. All policies are periodically reviewed to confim wthether they cmtinue to meel the needs of the Union. The relaiK)nshlp betsveen Cty, UnIve￿ty of London arKI the Unk)n Is cojmed wlthln Unlverslty's 0rdnan￿S and the Education Act 1994. The Union receives a subvention grant from the University with an amount agreed before the beginning of the foll0v￿ng finanaal year. The Union also rewves in-kind funding from the University. This funding i￿lUdeS the UnioM)'s residen￿ within a buildiTVJ on the University estate and the use of some other areas of the University estate free of tharge. In ￿CuP￿ng a university-operated property, the Union's utilities such as gas, electrtuty. cleaning and maintenance are also fvnded by the University. In addition, Ihe Unirm benefits from support throu9h a rdThJe of professional services as directed in the Universty (￿nanCeS. These seNces indude ffin8r￿e, human reSoU￿S arnl health and safety. REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number 10834450 (England and Wales) Regi$ter•d Charity number 1173858 Registered office Cty University of London 10 Northompton Square London EC1V OHB PaJe 9 CITY ST GEORGE'S STUDENTS. UNION IREGISTERED NUMBER: 10834450) Report of the Trustees for the Year Ended 31 July 2024 T￿￿eeS Trustee Board The Trustees of the Unign are also the C(Nnpany Direc10￿ for the purpose of Ihe Companies Act, they include.. Sabbatical Trustees President Students. Union Officer Students. Union Officer Students, Union Officer 20￿25 {stsrted 1 July 2024) Ayla Hamzayeva Nasr Mohammed Ashton Shepherd 202&24 (Ended 30 June 2024) Akanksha Kumar Jackson He Yavuz Emin Kafadar Fortune Sampson Student Trustees Saundarya Rastogi (resigned 1 Septemter 2023) Prachi Barathe (appointed 8 De￿mber 2023) Eva O'Neill (appointed 27 Novernber 20231 Joseph Kenwnght (appointed 1 August 20241 Lay Truslees Nick Ralcltffe (Deputy Chairl Alan Latham Liz Williams (resigned 12 December 2023) Jaswnder Ahluwdlia (appointed 8 December 2023) Rachel Brown lapFM)inted 8 December 2023} Leila Ratnani {appointed 13 December 2023) Jeffrey Wiltshire lappiinted 10 September 2024) Staffing The Board of Trustees delegates s(Kne of its aulW, thrO￿h Ihe Chief Exe{￿tive, lo the foll0v￿ng staff members for operational dccision malung and accountability ￿TthIn thc Union. Chief Executive Deputy Chief Executive Philip Gilks Hannah Roberts (matemty leave unlil January 2024ISayed Alkadiri11 December 2022 - 31 October 2023) Head of Finance Head of CommunirAtions and BUSI￿$$ Development Jeni Tumer Chris Moore Website www.cityStudents.co.uk (now ¥V•WI.WSU.co.uk) Auditors Knox Cropper LLP 153-155 London Road Hemel Hempslead Hertfordshire HP3 9SQ Solicitors Wrigleys Solicitors 19 Cookridge Street Leeds wp.st Yorkqhirp LS2 3AG PwJe 10 Ctry ST GEORGE'S STUDENTS. UNION {REGISTERED NUMBER: 108344501 Report of the Trustoes lor the Yoar End￿ 31 Juty 2024 REFERENCE AND ADMINISTRATIVE DETAILS Bankers Na￿est Bank PLC Liverpool Street Stati(K) {Bl 216 Bishopsgate London EC2M 4QB EVENTS SINCE THE END OF THE YEAR Infomation relating to events since th8 end of the year is gr¥Bn in lh8 notes to the financaal statements. STATEMENT OF TRUSTEES, RESPONSIBILMES The trustees {who are also the directors of Cty Sl George's Sludents, unl￿ for Ihe purposes of company lawl are responsible for Fyeparing the Report of the Trustees and the financial statements in accOr(lan￿ with applicable law and United Kingdom Aco)unts'rvJ Stsndards (United Kingdom Gerwalty A￿pted Accounts'ng Practice). Company law rewires Ihe truslees to F￿are financial statements for each financial year which give a true and fair wew of the state of affairs of the charitable company and of Ihe incoming resourcys and application of resources. induding the irthme and eXperKlitU￿, of tt)e charitable company for that period. In preparing those financial statements, the trustees are rg]uired to select suitable accounting pcAicies arKJ then apply th&n consistenty. observe the methods and wnuples in the Charity SORP; make judgements and estimates that are reaSona￿e and prudent" slate whether apklicable accounting standards have teen foll0v￿d. subject to any material departures disclosed and explained in the financial statements.. epare the financial statements on the going concem basis unless it is inar4)ropriate to wesume that th8 charitsble company will continue in busin8ss. The trustees are resF4)nsible for keeping pr¢)per accounting records disclose vath reasonable accuracy at any tsme the financial posth'on of the charitatle company and to enab￿ them to ensure Ihat the financial statsments comply wth the Companies Act 20(￿. They are also reSpon￿tIe for safeguarding the assets of the charitable company and hence for ts￿ng reasonable steps for Ihe prevention arKJ detection of fraud aTrJ other irregulanlies. In so far as the trustees are aware: there is relevant audit inf0M￿tion of 4thich the charitable companvs auditors are unaware; and the trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditor5 ate ayrdre of that information. Rewrt of the trustees. incorporating a strategic reFort, approved by txder of the t()￿d of trustees, as the ompan tors. on 10 De￿rnbel 2024 diirj siwie(l I1￿ LwtdS- bEFidll by: 8mzayeva- Trustee Pa3e11 Report of the Independent Audltors to tho I￿￿13 of city St George's Students. Union Oplnion We have audited the finanaal statements of Cty St George's SbJdents' un￿)n (the 'charitable company'l for the year ended 31 July 2024 vthich compnse the Statement of Financial Acbvttses. the Balance Sheet. the Cash Flow Statement and notes to the fina￿181 slatements. induding a summary of significant accounting policies. The financial ￿porting framework that has been applied in their preparation is applicable law and Uniled lfjngdom Accounting Standards (United Kingdom Generally Accepled Accounting Practice). In our opinion Ihe financial statements= give a true and fair view of the state of the charitsble companls affairs as at 31 July 2024 and of its incoming ￿$oUr￿$ and apFSicalion of reSoU￿s. Ir￿IlKIlng its income and expenditure, for the year then ended; have been property ￿epar￿1 in acoydance with Unibj lQngdom General￿ Accepted AcC￿nting Practi￿.. and have been prepared in accordance the requirements of Companies Act 2(K)6. Basis for opinlon We conducted our audit in accordan￿ viith Internatit￿al Standards on Auditing {UKI (ISAS {UKII and applicable law. Our reswnsibilities undef those standards are fvrther described in Ihe Auditors. responsibilities for the audit of the finanual statements secti(x) of our report. We a￿ independent of the tharitable company in accordance vAth the ethical requirements Ihat are relevant to our audit of the finanaal stalements in the UK, induding the FRC'S Elhical Standard. and have fulfilled our other ethical responsibilitie5 in accordan￿ these requirements. We telieve that the ewderKE we have obtained is sufficient and appropriate to provide a basis fcf our opinion. Conclusions relating to going concern In auditing the financial statements. we have concluded that the trustees. use of the going concem basis of accounting in the preparab'on of the financial statements is appropriate. Based on the work we have perfomed. have not identified any material uncertsinties relating to events or snditions thaL individually or collectively, may ￿st signlficanl doubt on the charitable company's ability to continue as a going concom for a period of at legst twdve months from vthen the finoneial statements are authonsed for Iss￿. Our restM)nsibilities and the reswnsibilities of the trustees with resrect to going concem a￿ described in the relevant sections of Ihis report. Other informatlon The trustees are responsible for Ihe other inf￿nation. The olher infomialion comprises the inforniation induded in the Annual Report. other than the finanaal statements and our Report of Ihe Independent Auditors thereon. Our opinion on the finarKial statements does not cover the ollw infornatDn and. eX￿pt to the extent olherwse expliciuy staled in our report. we do not eXp￿$S ary fomi of assurance o)ndusion thereon. In conneclion bwth our audit of the finarual statements. wr respowbility is to read the other inf0mat￿n and. in doino so. consider whether the other info￿a￿On is Material￿ inconsistent with the finanual statements or our knowledge obtained in the audit or other*Mse appears to be materially misstated. If we identrfy such malerial inconsistencies or apparent material misstatements, ￿ are required to detemiine vthether this gives rise to a material misstatement in the finanoal ststements themselves. If. based on the work we have perfomied. we conclude that there is a material misstatement of this other infomiation, we are required to report that fact. We have nothing to report in this regard. Opinions on other matters prescribed by the Companies Act 2006 In our opinion, based on the work undertaken in the course of the audit: the information gtven in the Report of Ihe Trustees for the financ4al year for vknich the financial statements are prepared is con515tent with the financial ststements., and the Report of the Trustees has been prepared in acc￿dance vitth applicable legal requirements. Page 12 Report of the Independent Audltors to the Menthrs of city St Goorg•'s Stud•nts' ilnl¢n Matters on which we are required to report by exrxption the light of the kno￿edge and understanding of the charitsbl8 company and tts enwronment obtsined in thè crxjrse of the a￿111. we have identified material misstatements in the RepcM1 of the Trustees. We have nothing to report in respect of folbwirvJ mattw5 where the Companies Act 2006 requires us to report to you rf. in our o￿n￿. adequate accounting records have not been kept or reknms adequate for our audit have rvjt been r￿1Ved from branches not visited by us; or the financial ststements are not in agre8rn￿t with the actounling rewrds and retums; or certain disdosures of trustees. remunerab.on speufied by law are nol made,. or we have not recEived all ts infom)alion a￿1 expknations we require for our audiL Responsibilllies of trustees As explained more fully in Ihe Statement of Trustees. ResponsiEylities. the trustees {who are also the directors of the charitable company for the purwses of company lawl are resp)nsibbe for the preparation of the financAal statements and for being satisfied that they give a true and fair view. and for such intemal control as Ihe trustees determine is necessary to enable the preparation of ffina￿al statements that are free from material misstatement. knther due to frdud (x error. In preparing Ihe financial statements, the trustees are responsible for assessing the tharitable companrfs ability to continue as a going concem, disclosing. as applicable. matters related to 90ing con￿rn and using the going concern basis of accounting unle55 the Irustees either intend to liquidate the charitable company or to cease operations. CY have no realistTrc alternalive but to do so. Our rasponslblllties for the audit of the financial statements Our obje￿iveS are to obtsin reasonable assuran￿ ab￿t whether the financial statements as a ￿¢￿e are f from material misstatement. whether due to fraud or error. and to issue a Report of the Independent Audito that i￿ludeS our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordan￿ with ISAS (UK) wll athys detect a material misstatement vh￿n it exists. Misstatemenls can arise from fraud or error and a￿ considered material rf. individually or in the aggregale. they could reasonably be expected to Influer￿e the economic tJea&￿S ot users laken on the basis of Ihese finanoal statements. The extent to bthich our procedures are capable of delecling irregulaTilies. irKluding fraud is detsiled below.. . The Charitable c(￿panY is required to comply viith both company law and tharity law and. based on our knowledge of its activibes. ￿ identsfft"e(J that Ihe legal requiremern to accuraiety account for resm.cied fiJnOs was of key significan￿. We gained an understanding of how the charitable company complied ￿￿th its legal and regulatory framework, including the requirement to ￿opertY account for restricted funds. through discussion5 With management and a review of the d(￿mented Folioes. procedures and controls. The audit team, which is experienced in the audit of charities, rxMsidered the charitable company's Su￿eptibIlity to material misslalement and how fraud may occur. Our considerations induthd the risk of management override. Our approach was to ched( that all restricted income vras properfy identified and separately aco)unted for ano to ensure that valid and appropridle vxperidiiuie vvab diarged lo reslriGted funds. This inGluded reviewng joum81 adjustrnents and unusual transactirms. There are inherent limitstions in the audit wwedures described above and. the further removed n0n-wmplla￿e with Saws and regulations is from the events and transactions reflected in the financial statements, Ihe less likety we would ttccme aware of it. The risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one results'ng from error. as fraud may involve deliberate concealment by. for examth, tsgery or intentional misrepresentations, or through collusion. A further description of responsibiltlbO$ for Iha audit of tho financial statements is located on the Financial ReFK)rting Council's ￿EbSrte at W•YW.frc.org.ukJaudrtcKsresponsitylttes. This description foms part of our Re￿rt of the Independent Auditors. 13 Report ofthe Inde￿ndent Audltors to the Membern of Clty St G•ory'$ Students. Union Use of our report This report is made ￿)Iety to Ihe tharitable companys members, as a boty, in ￿ance with Chapter 3 of Part 16 of the Companies Act 20C6. Our audit th has been undertaken so that we might stste to the charitable company's members those matter5 we are required lo state to them in an auditors. report and for rlo other purpose. To the fijllest extent permitted bylaw, we do not accepl or assume reS￿)nsIbIlity to anyone other than the charitable c(Mnpany and the charitable cx)mpanls members as a b)dy. for our audit work. for this report. or for the opini￿$ we have fcffmed. Stephen Anderson (Senior Statutory Auditor) for and on behalf of Kr￿X Cropper LLP 153-155 London Road Hemel Hempstead Hertfordshire HP3 9SQ 10 December 2024 Page 14 CITY ST GEORGEE STUDEpifs' UNION Ststsment of Flnan¢lal A¢llvttl•8 for the Y•ar End•d 31 Juty 2024 2024 T¢*al funds 2023 Total funds Unrestrided fund Reslrid funds INCOME AND ENDOWMENTS FROM Donations and legacies 1.998,015 1.998,015 1,549.462 Charitablo aclivities Clubs and Societies Retail Sport 100.784 100,784 21.931 21.744 61,461 22.274 21.931 21.744 Other trading activities Investment incorne 39.131 32,629 39,131 32.629 39.142 8,803 Total 1113,450 100,784 2,214,234 1.681,142 EXPENDMJRE ON Charitable activltlos Student Activitr'es Clubs and Sw'ets'es Retsil Advi Representation and Democxacy Communication and Markets'ng Sport 465,152 465,152 74,589 127,020 221,636 620,251 279,239 412.167 )9,448 54,889 114.443 178,347 529,458 293.348 74,589 127.020 221,636 620,251 279,239 412,167 Total 2.125AGS 74,589 2,200.054 1.679.933 NEf INCOMEI(EXPENDrruRE) 112,015) 26.195 14,180 1.209 RECONCILIATION OF FUNDS Total funds brought fward 511729 60.379 514,108 572.899 TOTAL FUNDS CARRIED FORWARD 501.714 86.574 588288 574,108 The rnt£* fomi part of firk2nc4al statrAn￿ts Paje 15 CITY ST GEORGE'S STUDE1￿S. UNION (REGISTERED NUMBER: 108344501 Balanc• Sheet 31 July 2024 2024 Tolal fvnds 2023 Totsl funds unreStr￿ted fvnd fvn(Js Notes CURRENT ASSErs Stocks Debtors Cash al bank 12 13 14,784 155,877 622.027 14,784 155.877 708,601 13,188 54.911 674,145 86,574 792.688 86,574 879,262 742.244 CREDtroRS Amounts falling due Nmthin one year 14 (2￿,9741 1290,974) {168.1361 Nrr cuRRE￿r ASSETS 501.714 86.574 588,288 574,108 TOTAL ASSEfs LESS CURREKr LIABILITIES 501.714 86,574 588,288 574.108 NEf ASSErs 501,714 86,574 588,288 574,108 FUNDS un￿tricted funds Reslricled funds 15 501.714 86,574 513.729 60.379 TOTAL FUNDS 588,288 574.108 T1￿ fina￿la1 statements V4ere approved by the Bowd of Trustees authorised for issue on 10 t)ewi r 2024 and were Si￿ed on its behalf by.. A Hamzayeva . Trustee The notes form part ofthese financaal stalemwrts Page 16 CITY ST GEORGE'S STUDENTS. UNION Cash Flthv Statement for th• Year Ended 31 July 2024 2024 2023 Notss Cash flows from operating activitss Cash generated from OFerations 6.762 Nèt cash prowded by OFeralirvJ activities 6,762 Cash flows from investing activitifrs Interest reCeI￿d 32.629 8,803 Net cash provided by InVestir￿ a¢tivitses 8.803 Change in cash and cash equivalents In the reporting period Cash and cash equivalents at the beg•nnin9 of the reportin9 perl¢)d 15,565 674,14S 658,580 Cash and cash equlvalents at the end of the reporting period 708.601 674,145 The ￿ fomi part of these fin8nrial StateM￿ts P4e 17 CITY ST GEORGES STUDENTS. UNION Notes to the Cash Fl