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← University Of East London Students' Union

2025-07-31-accounts

UNIVERSITY OF EAST LONDON STUDENTS’ UNION

(A COMPANY LIMITED BY GUARANTEE)

TRUSTEES’ ANNUAL REPORT AND CONSOLIDATED FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 JULY 2025

Registered charity number: 1173994

Registered company number: 10820498

UNIVERSITY OF EAST LONDON STUDENTS’ UNION

CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025

INDEX

Page
Administrative information 1
Report of the trustees 2
Independent auditors’ report 11
Statement of Financial Activities 14
Balance sheet 16
Statement of cash flows 17
Principal accounting policies 18
Notes to the financial statements 21

UNIVERSITY OF EAST LONDON STUDENTS’ UNION CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025

ADMINISTRATIVE INFORMATION

Charity number 1173994 Company number 10820498

Trustees

Amar Abbas (chair from 16 January to 17 September 2025) Adeola Akintoye Craig Bailey Dipika Gokulnath Andrew Hobbs (chair from 17 September 2025) Anbarashan Jagadeesan Delnaz Kazemi-Esferjani Anthony Mansfield Bertha Okpara Sai Sampath Ganesh Sangu Rev. Nicholas Leggett Sandra McLean Martin Young (chair until 16 January 2025)

appointed 01 July 2018 appointed 17 January 2025 appointed 01 July 2018 appointed 01 July 2024 appointed 17 January 2025 appointed 01 July 2024 appointed 18 July 2015 appointed 11 March 2022 appointed 23 December 2024 appointed 01 July 2024 appointed 15 June 2017, retired 16 January 2025 appointed 01 July 2023, retired 30 June 2025 appointed 15 June 2017, retired 16 January 2025

Chief Executive

Patrick Reilly

Principal office

4-6 University Way London E16 2RD

Auditors

Knox Cropper LLP 65-68 Leadenhall Street London EC3A 2AD

Accountants

Blue Spire Limited Cawley Priory South Pallant Chichester PO19 1SY

Bankers

Barclays Bank PLC 737 Barking Road Plaistow London

Solicitors

Wrigleys Solicitors LLP 19 Cookridge Street Leeds LS2 3AG

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UNIVERSITY OF EAST LONDON STUDENTS’ UNION CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025

REPORT OF THE TRUSTEES

The Trustees of University of East London Students' Union (“the Students’ Union”) present their annual report for the year from 01 August 2024 to 31 July 2025, which includes the legal and administrative information set out on page one, together with the audited financial statements for that period.

The Trustees have adopted the provisions of the Statement of Recommended Practice (SORP) "Accounting and Reporting by Charities in preparing the annual report and financial statements.

The financial statements have been prepared in accordance with the accounting policies set out in notes to the accounts and comply with the charity’s governing document, the Charities Act 2011 and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland published in October 2019.

Legal and charitable status

University of East London Students' Union is a company limited by guarantee registered in England and Wales (registered number 10820498) and is a charity registered in England and Wales (registered number 1173994). The company was incorporated on 15 June 2017.

Governing documents

The Students’ Union is constituted and governed under the memorandum and articles of association, the byelaws and other regulations approved from time-to-time by the Trustees. Those parts of the above documents relating to the Education Act 1994 which are subject to the approval of the University have been approved by the University. The articles of association are subject to review by the University every five years.

Board of Trustees

The Students’ Union is administered by its Board of Trustees. The Trustees are the directors and members of the company for the purposes of company law. In accordance with the articles of association, the Board of Trustees must consist of:

Three Executive Officer Trustees (student officers) are elected by cross-campus ballot each spring and serve for a term of one year from 01 July 2024; they can serve two such terms. Dipika Gokulnath, Anbarashan Jagadeesan and Sai Sampath Ganesh Sangu served as Executive Officer Trustees for the entire period, having been re-elected in spring 2025. Two further student officers are elected but do not become trustees: Stuti Sah (since 01 July 2024) and Abhiskeh Roy (since 01 July 2025).

Two Student Trustees are appointed annually by the Trustees. Sandra McLean took office on 01 July 2023. She was reappointed for a second term in June 2024 and retired on 30 June 2025. Bertha Okpara took office on 23 December 2025 and was reappointed in June 2025 for a second term. Delnaz Kazemi-Esferjani was appointed in July 2025. Student trustees are selected through a competitive appointment process.

The two longest-serving external/lay trustees, Rev Nicholas Leggett and Martin Young, retired in January 2025. They were replaced after a competitive appointment process by Adeola Akintoye and Andrew Hobbs. Amar Abbas was appointed as interim chair after Martin Young’s retirement. Andrew Hobbs was appointed chair in September 2025.

Upon appointment, all Trustees receive a variety of information through their induction relating to their legal and administrative obligations as trustees and directors. Executive Officer Trustees and Student Trustees undertake bespoke trustee training. Additional briefings on specific issues are provided when the need arises from time-totime.

The Trustees have established several sub-committees to assist them in carrying out their duties. The subcommittees were restructured during the period and there are now three sub-committees:

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UNIVERSITY OF EAST LONDON STUDENTS’ UNION CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025

REPORT OF THE TRUSTEES

The sub-committees include trustees and some University staff including the interim deputy chief finance officer, the head of legal services and a human resources business partner. The powers and responsibilities of those subcommittees are outlined in the bye-laws. The sub-committees report on their activities and actions to the Trustees on a regular basis.

Senior management team

The Trustees delegate the day-to-day management, the development of strategy and overall leadership of the Students’ Union to the chief executive. The chief executive leads a senior management team to ensure effective management of the Students’ Union. These team members are regarded as being the key management personnel outside of the Trustees.

Chief Executive Patrick Reilly Head of Policy and Advice Lisa Thomas

Relationship with University of East London

Under the Education Act 1994, the University must take reasonably practicable steps to ensure the Students’ Union is run in a fair and democratic manner and that it is held to account for its finances. The relationship between the Students’ Union and the University is established in the articles of associations, the University’s regulations, the memorandum of understanding between the organisations, and the code of practice.

The Students’ Union receives an annual grant from the University and part-occupies, at no cost, buildings owned by the University. The University covers the cost of some utilities, services and staff support and employs the chief executive, who is seconded to the Students’ Union. This non-monetary support is intrinsic to the relationship between the organisations and is detailed elsewhere in this report.

Remuneration

A sub-committee of the Board of Trustees, the human resources committee, is responsible for reviewing the salaries of key staff members. The committee considers relevant data from other students' union and comparable organisations to assist with their decision-making in accordance with the pay policy. The committee makes recommendations to the University on the remuneration of the chief executive.

Aims and objectives

The Students’ Union’s charitable objects are the advancement of education of students at University of East London for the public benefit by:

The Students’ Union’s current vision was redefined in 2016/17 as follows: "we will ensure that every UEL student has an exceptional and diverse university experience that makes them feel valued, supported and empowered to break through any barrier that stands between them and their aspirations".

In pursuit of its aims for the public benefit, the Students’ Union ensures the diversity of its membership is recognised, valued and supported and it has established departments and services for use by its members and to support its work with the University and other organisations on behalf of students.

Public benefit

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UNIVERSITY OF EAST LONDON STUDENTS’ UNION CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025

REPORT OF THE TRUSTEES

In furtherance of the charity’s aims and objectives, the Trustees have complied with their duty in section 17(5) of the Charities Act 2011 to have due regard to the Charity Commission’s published general guidance concerning the operation of the public benefit requirement under that Act.

Achievements and performance 2024/25

Democracy and representation

Student Leadership Committee

The student officers and school representatives together form the student leadership committee, the Students’ Union’s primary policy-making body. This is a student representation committee, rather than a governance committee. None of the members during the year had been involved in the Students’ Union prior to their election.

In February 2024, we increased the number of student officers from three to five. Five student officers were elected to serve from 01 July 2024 and the portfolios were allocated as follows:

The University restructured its schools, so the number of school representatives was reduced by one to five. Five school representatives were elected in spring 2024:

As in previous years, training involved a mix of internal and external trainers, attendance at external events run by the National Union of Students, Wonkhe and others, and briefings from around 25 University services/teams. For student officers, the training period lasts around two months. For school representatives, it’s around two weeks in total.

Student officers

The student officers have individual and shared action plans which covered areas including the following:

School representatives

Alongside their day-to-day responsibilities, school representatives led two forums in each school (autumn and spring) which included all course representatives from the respective schools. School representatives were given training and guidance from Students’ Union staff on planning their respective school forums and facilitating discussions.

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UNIVERSITY OF EAST LONDON STUDENTS’ UNION CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025

REPORT OF THE TRUSTEES

Feedback and suggestions collected in these meetings were brought to meetings with school deans or directors of education and experience, discussed at Student Leadership Committee, or taken on from student officers to discuss with UEB members where appropriate.

Course representatives

We run a system of course representatives who are central to our representation structure. There are more than 500 students who volunteer an average of five hours per semester to represent their course mates on courserelated matters.

This year, we returned to in-person training. This resulted in much higher engagement and enabled more experiential learning, with course representatives being immersed in hypothetical scenarios they may encounter in the role. We delivered around 70 sessions over eight weeks in autumn, including morning, afternoon and evening sessions across Docklands and Stratford campuses to accommodate student's availability. We offered a further 20 sessions in the spring semester. Online sessions were provided for distance learning students and apprentices.

This system is operated in conjunction with the University. It is a key part of the University’s Office for Students regulatory obligations to demonstrate that it listens to and acts on student feedback. We train, support and advise course representatives, while the University is expected to support the election process, listen to course representatives' concerns and act on them. It is generally acknowledged in the University that the training and support we provide to course representatives is very good.

Election of student officers

In 2024, we changed the election process to try to ensure a better experience for student candidates and voters, and to improve the quality and knowledge of candidates. In 2025, we tweaked the process slightly based on feedback from candidates and the external panel which had overseen the candidates' final presentations the previous year. 15 candidates completed the training for student officer (three half-day sessions) and the presentation.

Over the last five years, our voter numbers have ranged between 566 and 3,366. In 2024, this was a 13% turnout. In 2025, we increased that to 6,027 students (24% turnout). This is our highest ever number of voters. Voters came from 361 different courses and at least 95 different nationalities. We also saw a huge increase in undergraduate student participation, making up 48% of voters. We believe the dramatic increase in turnout is due to more effective campaigning by candidates for student officer and school representative positions (supported by training led by Students’ Union staff) and an enhanced approach to election communications.

Activities and events

Events

We amended the focus of activities and events to ‘fun and finding friends’. Our running total for events is more than 300 so far, with activities continuing into the summer term. Our events ‘team’ is still just one staff member, who also supports student groups to plan their events; this helps individual students’ event planning and management skills. It is not possible to listen everything in the limited space available, but the following events demonstrate the variety of our offer.

One of our largest events was the year of our Near and Far Festival, which focused on showing off our students’ cultures. We worked directly with student volunteers to deliver this project. We organised educational and interactive cultural stalls at Docklands and Stratford, with a supplementary stall at USS to help signpost students to the Stratford. This allowed students and staff the opportunity to learn more about their peers, reducing cultural knowledge gaps/assumptions and barriers to cross-cultural engagement. This event also featured a series of lunchtime performances showcasing different cultures, which included poetry, dancing, singing and playing traditional instruments. This provided student groups and individuals with an opportunity to showcase their talents. Student groups also hosted workshops which focused on language, physical activity and art. They were aimed at students from outside these cultures and provided opportunities for them to learn things about their peers and expose them to new ways of thinking and understanding, as well as develop a new skill which they would likely not have encountered otherwise.

Welcome and induction

We have been heavily involved in welcome planning and delivery, based around the main entry points in

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REPORT OF THE TRUSTEES

September, January and May. We’ve worked closely with Student Life and several of the school-based directors of education and experience and course leaders to run bespoke activities for schools/course – all based around the concept of ‘fun and finding friends’.

Sustainability

We’ve worked with the sustainability team and the community gardener to deliver an ‘introduction to gardening’, showing students how to grow their own crops which they can harvest within weeks. This was supplemented with information about where food comes from and giving a better understanding of the role sustainability plays in our everyday lives. The event also encouraged students to build community volunteering through our sustainability champions project.

Linked to this, we’ve been working with Newham Council’s waste prevention and recycling team to plan collaborative community sustainability projects. We delivered a zero-waste cookery demonstration to showcase how meal planning can help students’ financial sustainability as well as the planet. This supported community building amongst the May intake students and helped to showcase easy culinary skills which many students may not know as their first time cooking for themselves, or may not have (affordable) access to the same foods as they would in their home countries.

Student groups

We now have 40 student groups operating. Many of these are based around cultural and faith groups, but an increasing number are linked to academic subjects. The full list can be viewed on our website. We now have two staff working in this area and supporting students to build their groups.

At the end of the spring semester, we held our first student leadership training day, which student group committee members, student officers, school representatives and course representatives spent a day learning about leadership, planning, communication and finance.

We collaborated with East London Sport to expand our annual student-led Holi event to include a larger colour run. This expanded the event and provided additional opportunities for students to engage. The relevant student groups were central to the planning and delivery.

Student voice, policy and advice

Student-led commissions

For the first time, we organised two student-led commissions, focusing on topics and issues concerning students and the University. These consist of a panel of students – with staff support – reviewing reports, surveys and other evidence, and hearing from and questioning subject experts. The first two focused on mental wealth and academic advising. For the mental wealth review, we carried out qualitative research among a wide range of students. This resulted in a report with recommendations for inclusion in the University's review of the mental wealth and professional fitness modules.

For the academic advising project, we conducted two waves of research – in-person surveys – with 669 responses in autumn 2024 and 461 responses in spring 2025. We produced a report with recommendations which was presented to the University's education and experience committee. This demonstrated that lots of progress has been made on this issue but there is further work required on consistency, communication and training.

Education conference

We organised our first-ever education conference in December 2024. This was a round-table format of almost 40 students - mainly course representatives – who discussed the degree awarding gap. The key objectives were to:

Hall representatives

In the spring term, we worked with Residential Life to launch a new halls of residence representative system. This is similar to the course representative system but is based on continually improving sharing living arrangements on campus. Each block will have one representative, who are interviewed by a panel before appointment. They are trained and supported by student officers and Students’ Union staff.

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REPORT OF THE TRUSTEES

Postgraduate research student representatives

One of the main reasons for creating the position of communities officer was to develop formal representation systems for 'forgotten' groups such as postgraduate research students, who have been on the fringes of the Students' Union for many years. We have worked with the Office for Postgraduates, Research and Engagement and Strategic Development and Delivery to better understand the landscape of postgraduate research, the relevant student profiles, their work and their lives. The outcome from this is that we're launching our new postgraduate research student system this month.

Policy and advice

We continue to advise students on all student-facing policies and processes they may encounter as a student. Some advice can be quite straightforward, but in many cases it continues to become increasingly complex. It used to be unusual for cases to last months; it is now typical for this to happen.

We continue to work to try to reduce the number of cases that require formal advice from an advice caseworker. However, the number of cases continues to be broadly similar to previous years, with the complexity and time required on cases continuing to increase.

We continue to work with the University to implement the changes outlined in our ‘pain points’ report last year. This includes teams across Student Services (wellbeing, student money and rights, disability and dyslexia, student engagement and retention), Academic Registry, academic staff and the school-based directors of education and experience.

We see students’ challenges from a different perspective, and we are increasingly providing direct insight to teams and individuals across the University about issues in their schools or services which result in students needing advice from us. Where schools and services have proactively engaged with us to understand the issues, we have seen marked reductions in the number of cases. Ultimately, this saves staff time and resources in the Students’ Union and the University.

For example, we worked with student engagement to revise the attendance and engagement policy. We recommended changes to wording in guidance documents and notification emails which are sent to students. This led to students having a better understanding of what they were being asked or told, reducing the need to ask follow-up questions. The number of advice cases we opened on this topic reduced by 15% after this one change. This is likely having a direct positive impact on retention.

Fitness to practise cases continue to be a substantial, and growing, load on the advice team, with such cases regularly taking months to resolve. We have seen a large increase in some departments in the last two years. In departments which have engaged with us to improve their processes, we have seen a marked decrease in the number of these cases. This is directly linked to improved retention.

We have been successful in achieving positive outcomes for students, particularly when supporting students with complaints. If we believe the student does not have a justifiable/winnable case, we explain this and discourage them from pursuing it, as such cases are time-consuming for the Students’ Union and especially the University. In addition, in most of these cases, these positives complaints outcomes have contributed to the students remaining in the University, again having a direct positive impact on retention.

Social enterprise

Nook

One of our strategic objectives is to develop a social enterprise model which will diversify our income, while also supporting student employment and helping us to “be in the places where students are”. This will also contribute to the University’s objectives around retention and success. We do this through the provision of high-quality social spaces which help to create a sense of belonging, and which encourage students to stay on campus between/outside of lecturers (‘sticky campus’).

In January 2025, we opened our first café, Nook, in North Building on Docklands Square. It has been a huge success, with sales increasing rapidly from opening. We have been trialling new concepts on a regular basis. We support the diversity of our student body by offering a wide range of products, including vegetarian, vegan, glutenfree and Halal. We have also recently started supplying lunch for university teams at a fraction of the cost of other options on campus.

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REPORT OF THE TRUSTEES

We employed 21 student staff and a non-student manager. Most of our student staff had never had a job in the UK before. Around three-quarters of them secured other good jobs after leaving us.

We are in discussions with the University about future opportunities.

Space

Stratford campus

Our space in Arthur Edwards Building has continued to be a huge success. It is very popular among students for eating, studying and sitting around. We now host a large number of events in the space, covering everything from art, dancing and parties to conferences, training and meetings. In September 2025, we opened a new café, Idle, in the space, which has further enhanced the offer.

We work with schools to organise events such as end-of-year or graduation celebrations and student-led academic-related conferences. We facilitate school and service staff meetings and training events where that does not conflict with student access, to which we give priority.

We also use the space as a training venue, where we teach student staff and interested student volunteers how to operate and manage a large space with competing demands. This includes sales, bookings, setup, facilitation, take-down and review.

Docklands campus

With Nook and the reception construction now complete, this has freed up our two rooms next to our offices which we used for activities, events and meetings with students and student groups.

National Student Survey

The National Student Survey is about teaching, learning and support in higher education institutions, but it contains one question about students’ unions: “How well does the students’ union (association or guild) represent students’ academic interests?”

We increased our positivity score from 78% to 80.5%. This maintained our position of third amongst post-92 institutions in London and 20th nationally (out of 134 participating institutions).

Financial review

The Union’s gross income from all sources during the period totalled £1,461,634, all of which was unrestricted. This includes grants from the University of £983,849 and an estimated value of £366,265 for in-kind benefits such as serviced accommodation and the chief executive’s remuneration. It also includes income totalling £8,193 generated from charitable activities and £82,094 of trading income.

The costs of services provided to the membership including representation, advice and activities and costs associated with generating charitable income was £1,202,109. This included legal and professional fees and other governance cost totalling £67,389 and costs relating to raising funds of £142,623.

Net income of £122,867 and a pension provision of £130,256 increased overall reserves from a surplus of £9,448 to a surplus of £262,571. At the balance sheet date, free reserves for the group, being unrestricted income funds not represented by fixed assets, amounted to a surplus of £158,761 (2024: Charity deficit of £71,219) and a revised fund of £1,262,690 excluding the pension liability.

The Union is affiliated to the National Union of Students, for which the affiliation fee in the period was £25,026. The other affiliation in the period was to AdviceUK £362.

No donations were made to any external organisations from the Union’s own resources.

Reserves

The Students’ Union’s reserves policy is to maintain cover for 30 days’ operating costs to cope with any unexpected downturn in funding or additional calls on our resources without immediately curtailing activities. This

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UNIVERSITY OF EAST LONDON STUDENTS’ UNION CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025

REPORT OF THE TRUSTEES

new policy reflects that the Students’ Union’s main source of funding is stable and agreed in advance, with very limited reliance on other fundraising or trading. The general fund of £1,177,306 comfortably far exceeded the policy requirement. The Trustees will continue to maintain reserves in accordance with the reserves policy.

Fundraising

The Students’ Union had no fundraising activities which require disclosure under s162A of the Charities Act 2011.

Future plans

The Students’ Union has four broad areas of work for 2025/26, which are supported by an operational plan. Responsibility for delivery of the operational plan lies with the senior management team and the student officers.

  1. Undertake a refresh of our strategy, involving students and other stakeholders in discussions about future priorities.

  2. Review the efficacy of the student leadership structures and implement any changes before the elections.

  3. Continue working with the University to increase the spaces we manage for students through redevelopments and other projects.

  4. Support the subsidiary company to continue to develop new income streams and employ more students on campus.

Risk management

The major strategic, business and operational risks faced by the Students’ Union have been examined and are included in a risk register. This register is periodically scrutinised and updated by the management team and the audit committee. Systems or procedures are established or amended as required to mitigate and manage risks.

Budgetary and internal control risks are minimised by the implementation of procedures for authorisation of all transactions and projects. These are periodically reviewed by the finance committee. Procedures are in place to ensure compliance with health and safety of all staff, student officers, volunteers and participants in all activities organised by the Students’ Union.

In addition to an external audit process, the Students’ Union is subject to occasional internal audit review by the University's internal auditors.

Trustees’ responsibilities

The Trustees are responsible for preparing the Trustees' annual report and the financial statements in accordance with applicable law and United Kingdom Generally Accepted Accounting Practice (UK Accounting Standards).

The law applicable to charities in England and Wales requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the Students’ Union for that period. In preparing these financial statements, the Trustees are required to:

The Trustees are responsible for keeping adequate records that are sufficient to show and explain the charity's transactions, disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charities (Accounts and Reports) Regulations 2008, Companies Act 2006 and the provisions of the Students’ Union’s governing documents. They

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UNIVERSITY OF EAST LONDON STUDENTS’ UNION

CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025

REPORT OF THE TRUSTEES

are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Provision of Information to Auditors

Each of the persons who are Trustees at the time when this Trustees’ report is approved has confirmed:

Approved by the Trustees and signed on their behalf.

Electronically signed by: Andrew Hobbs Reason: Signing on behalf of all trustees Date: Mar 16, 2026 13:53:53 GMT+1

Andrew Hobbs Chair of the Board of Trustees

Date 16 March 2026

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UNIVERSITY OF EAST LONDON STUDENTS’ UNION CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025

INDEPENDENT AUDITOR’S REPORT

Independent Auditor’s Report to the Members of University of East London Students’ Union

Opinion

We have audited the financial statements of University of East London Students’ Union (the ‘parent charitable company’) and its subsidiary (‘the group’) for the year ended 31[st] July 2025 which comprise the consolidated statement of financial activities, the consolidated and charity balance sheets, the consolidated statement of cash flows and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion, the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance 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 to going concern

In auditing the financial statements, we have concluded that the trustees’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the group or the parent charity’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. The trustees are responsible for the other information. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

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UNIVERSITY OF EAST LONDON STUDENTS’ UNION CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025

INDEPENDENT AUDITOR’S REPORT

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the group and parent company and its environment obtained in the course of the audit, we have not identified material misstatements in the directors’ report included within the trustees’ report.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

Responsibilities of trustees

As explained more fully in the trustees’ responsibilities statement, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the group and parent charity’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Auditor’s responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

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UNIVERSITY OF EAST LONDON STUDENTS’ UNION CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025

INDEPENDENT AUDITOR’S REPORT

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

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

Electronically signed by: Shoaib Arshad Reason: Execution of audit report Date: Mar 26, 2026 13:27:27 GMT Aestfoed Shoaib Arshad (Partner) Date: For and on behalf of Knox Cropper LLP, Statutory Auditor 65 Leadenhall Street London EC3A 2AD

26 March 2026

Page 13

UNIVERSITY OF EAST LONDON STUDENTS' UNION

CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025

GROUP STATEMENT OF FINANCIAL ACTIVITIES

Note
INCOME AND ENDOWMENTS FROM:
Donations and legacies
1
Charitable activities
2
Other trading activities
21
Investment Income
3
Total
EXPENDITURE ON:
Raising funds
21
Charitable activities
4
Total
Net Income
Transfers between funds
15
Pension charges
14
Net movement in funds
RECONCILIATION OF FUNDS
Total funds brought forward
15
Total funds carried forward
15		 Unrestricted
Funds
£
1,350,114
8,193
82,094
21,233
1,461,634
136,658
1,202,109
1,338,767
122,867
-
130,256
253,123
(4,074)
249,049		 Restricted
Funds
£
-
-
-
-
-
-
-
-
-
-
-
13,522
13,522		 Year ended
31 July
2025
Total
Funds
£
1,350,114
8,193
82,094
21,233
1,461,634
136,658
1,202,109
1,338,767
122,867
-
130,256
253,123
9,448
262,571		 Year ended
31 July
2024
Total
Funds
£
1,221,498
10,708
-
17,743
1,249,949
-
980,547
980,547
269,402
-
(122,655)
146,747
(137,299)
9,448

The charity has no recognised gains or losses other than those dealt with in the statement of financial activities.

Page 14

UNIVERSITY OF EAST LONDON STUDENTS' UNION

CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025

CHARITY STATEMENT OF FINANCIAL ACTIVITIES

Note
INCOME AND ENDOWMENTS FROM:
Donations and legacies
1
Charitable activities
2
Investment Income
3
Total
EXPENDITURE ON:
Charitable activities
4
Total
Net Income
Transfers between funds
15
Pension charges
14
Net movement in funds
RECONCILIATION OF FUNDS
Total funds brought forward
15
Total funds carried forward
15		 Unrestricted
Funds
£
1,350,114
8,193
21,233
1,379,540
1,202,109
1,202,109
177,431
-
130,256
307,687
(4,074)
303,613		 Restricted
Funds
£
-
-
-
-
-
-
-
-
-
-
13,522
13,522		 Year ended
31 July
2025
Total
Funds
£
1,350,114
8,193
21,233
1,379,540
1,202,109
1,202,109
177,431
-
130,256
307,687
9,448
317,135		 Year ended
31 July
2024
Total
Funds
£
1,221,498
10,708
17,743
1,249,949
980,547
980,547
269,402
-
(122,655)
146,747
(137,299)
9,448

The charity has no recognised gains or losses other than those dealt with in the statement of financial activities.

Page 15

UNIVERSITY OF EAST LONDON STUDENTS' UNION

CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025

GROUP AND CHARITY BALANCE SHEET AS AT 31 JULY 2025

Note
FIXED ASSETS
Tangible assets
10
Investment in subsidiary
21
Total fixed assets
CURRENT ASSETS
Stock
11
Debtors
12
Short term investments
13
Cash at hand and in bank
Total current assets
CURRENT LIABILITIES
Creditors: amounts falling due within one year
14
Net current assets/(liabilities)
Total assets less current liabilities
Creditors: amounts falling due after more than one year
15
Net assets/(liabilities)
THE FUNDS OF THE CHARITY
Restricted funds
Unrestricted funds
Designated pension fund
16
Designated capital fund
16
General funds
16
Total unrestricted funds
Total charity funds
16		 GROUP
2025
£
90,288
-
90,288
5,965
6,325
763,245
456,724
1,232,259
137,050
1,095,209
1,185,497
(922,926)
262,571
13,522
(1,013,641)
90,288
1,172,402
249,049
262,571		 2025
2024
£
£
90,288
67,145
1
-
90,289
67,145
3,590
-
63,263
5,610
763,245
-
456,724
1,193,967
1,286,822
1,199,577
137,050
112,213
1,149,772
1,087,364
1,240,061
1,154,509
(922,926)
(1,145,061)
317,135
9,448
13,522
13,522
(1,013,641)
(1,237,819)
90,288
67,145
1,226,966
1,166,600
303,613
(4,074)
317,135
9,448
CHARITY		 2025
2024
£
£
90,288
67,145
1
-
90,289
67,145
3,590
-
63,263
5,610
763,245
-
456,724
1,193,967
1,286,822
1,199,577
137,050
112,213
1,149,772
1,087,364
1,240,061
1,154,509
(922,926)
(1,145,061)
317,135
9,448
13,522
13,522
(1,013,641)
(1,237,819)
90,288
67,145
1,226,966
1,166,600
303,613
(4,074)
317,135
9,448
CHARITY
67,145
-
5,610
-
1,193,967
1,199,577
112,213
1,087,364
1,154,509
(1,145,061)
9,448
13,522
(1,237,819)
67,145
1,166,600
(4,074)
9,448

Approved by the trustees and signed on their behalf.

Electronically signed by: Andrew Hobbs Reason: Signing on behalf of all Trustees Date: Mar 16, 2026 13:53:53 GMT+1

Andrew Hobbs Chair of the Board of Trustees

Date 16 March 2026

Registered company number: 10820498

Page 16

UNIVERSITY OF EAST LONDON STUDENTS' UNION

CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025

GROUP AND CHARITY STATEMENT OF CASH FLOWS

Note
Net cash flow from operating activities (see below)
Cash flow from investing activities
Payments to acquire tangible fixed assets
Purchase of shares in subsidiary
Net cash flow from investing activities
Net increase/(decrease) in cash and cash equivalents
Cash and cash equivalents at 31 July 2024
17
Cash and cash equivalents at 31 July 2025
17
Cash and cash equivalents consist of:
Cash at bank and in hand
Short term deposits
Cash and cash equivalents at 31 July 2025
17
Reconciliation of net income to net cash flow from operating activities
Net income/(expenditure) for the period
Adjusted for:
Depreciation and impairment of tangible fixed assets
Decrease/(increase) in stocks
Decrease/(increase) in debtors
Increase/(decrease) in trade creditors & accruals
Scheduled pension deficit payments		 GROUP
2025
£
69,422
(43,420)
-
(43,420)
26,002
1,193,967
1,219,969
456,724
763,245
1,219,969
GROUP
2025
£
122,867
20,277
(5,965)
(715)
25,277
(92,319)
(53,445)
69,422		 2025
2024
£
£
69,423
187,835
(43,420)
(59,542)
(1)
-
(43,421)
(59,542)
26,002
128,293
1,193,967
1,065,674
1,219,969
1,193,967
456,724
1,193,967
763,245
-
1,219,969
1,193,967
2025
2024
£
£
177,431
269,402
20,277
8,006
(3,590)
-
(57,653)
420
25,277
63
(92,319)
(90,056)
(108,008)
(81,567)
69,423
187,835
CHARITY
CHARITY		 2025
2024
£
£
69,423
187,835
(43,420)
(59,542)
(1)
-
(43,421)
(59,542)
26,002
128,293
1,193,967
1,065,674
1,219,969
1,193,967
456,724
1,193,967
763,245
-
1,219,969
1,193,967
2025
2024
£
£
177,431
269,402
20,277
8,006
(3,590)
-
(57,653)
420
25,277
63
(92,319)
(90,056)
(108,008)
(81,567)
69,423
187,835
CHARITY
CHARITY
(81,567)
187,835

Page 17

UNIVERSITY OF EAST LONDON STUDENTS' UNION

CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025

ACCOUNTING POLICIES

General information, scope and basis of the financial statements

University of East London Students' Union is an incorporated charity established under a memorandum and articles of association with the company number 10820498 and with the registered charity number 1173994. The principal address of the charity is given in the charity information page of these financial statements and the nature of the charity’s operations and principal activities are outlined in the trustees' report.

University of East London Students’ Union incorporated on 15 June 2017. A transfer agreement was signed by the Board of the previously unincorporated entity on 21 July 2017, transferring all the operations, assets and liabilities of that charity to the newly registered entity on that date.

The charity constitutes a public benefit entity as defined by FRS 102. The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), the Charities Act 2011, the Companies Act 2006 and UK Generally Accepted Accounting Practice.

The financial statements are prepared on a going concern basis under the historical cost convention, modified to include certain items at fair value. The financial statements are presented in sterling which is the functional currency of the charity and rounded to the nearest £.

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

Consolidation

The results of the charity's wholly owned subsidiary (East London Students' Union Trading Ltd) are consolidated on a line by line basis with any intragroup balances and transactions eliminated in full during the year under review.

East London Students' Union Trading Ltd is a company, limited by shares, incorporated in England with the company number 16175174. University of East London Students' Union owns 100% of the issued share capital being 1 ordinary £1 share. The trading subsidiary's registered office is the same as the charity as detailed above.

The charity and its subsidiary now have a uniform reporting date and reporting period. The results of East London Students' Union Trading Ltd for the period under review are shown in note 20 of these financial statements.

Judgements in applying accounting policies and key sources of estimation uncertainty

Preparation of the financial statements requires management to make judgements and estimates. The key sources of estimation uncertainty that have a significant effect on the amounts recognised in the financial statements are that of the SUSS pension scheme deficit. A discount rate of 5.4% has been used in line with industry standards.

Going Concern

The financial statements have been prepared on a going concern basis as the trustees believe that no material uncertainties exist. The trustees have considered the level of funds held and the expected level of income and expenditure for 12 months from authorising these financial statements. The budgeted income and expenditure is sufficient with the level of reserves for the charity to be able to continue as a going concern.

Having regard to the above, the Trustees believe it appropriate to adopt the going concern basis of accounting in preparing the financial statements

Income recognition

All incoming resources are included in the Statement of Financial Activities (SoFA) when the charity is legally entitled to the income after any performance conditions have been met, the amount can be measured reliably and it is probable that the income will be received.

For donations to be recognised the charity will have been notified of the amounts and the settlement date in writing. If there are conditions attached to the donation and this requires a level of performance before entitlement can be obtained then income is deferred until those conditions are fully met or the fulfilment of those conditions is within the control of the charity and it is probable that they will be fulfilled.

Income from trading activities includes income received in exchange for supplying goods and services in order to raise funds and is recognised when entitlement has occurred.

Page 18

UNIVERSITY OF EAST LONDON STUDENTS' UNION

CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025

ACCOUNTING POLICIES

Income from government and other grants are recognised at fair value when the charity has entitlement after any performance conditions have been met, it is probable that the income will be received and the amount can be measured reliably. If entitlement is not met then these amounts are deferred.

Investment income is earned through holding assets for investment purposes such as shares and cash deposits. It includes dividends and interest. Where it is not practicable to identify investment management costs incurred within a scheme with reasonable accuracy the investment income is reported net of these costs. It is included when the amount can be measured reliably. Interest income is recognised using the effective interest method and dividend income is recognised as the charity’s right to receive payment is established.

Recognition of expenditure

All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Expenditure is recognised where there is a legal or constructive obligation to make payments to third parties, it is probable that the settlement will be required and the amount of the obligation can be measured reliably. It is categorised under the following headings:

● Expenditure on charitable activities; which includes costs in furtherance of the charity's objects and costs to support those activities

Support cost allocation

Support costs are those that assist the work of the charity but do not directly represent charitable activities and include office costs, governance costs, administrative payroll costs. They are incurred directly in support of expenditure on the objects of the charity and include project management. Where support costs cannot be directly attributed to particular headings they have been allocated to expenditure on charitable activities on a basis consistent with use of the resources.

Governance costs

Governance costs comprise the costs associated with the governance arrangements of the charity and include audit fees, legal advice (if any) for trustees, costs associated with constitutional and statutory requirements and any costs associated with the strategic as opposed to the day to day management of the charity’s assets.

Donated services and facilities

The University of East London provides the charity with office space and the services of the Chief Executive Officer at no charge. As required by SORP 2019, the donation of these facilities and services is included as an incoming resource and a matching outgoing resource within the statement of financial activities at the trustees’ estimate of their value to the charity.

Employee benefits

When employees have rendered service to the charity, short-term employee benefits to which the employees are entitled are recognised at the undiscounted amount expected to be paid in exchange for that service.

The charity operates a defined contribution plan for the benefit of its employees. Contributions are expensed as they become payable.

Pension Costs

University of East London Students' Union participates in the Students’ Union Superannuation Scheme, a defined benefit scheme which is externally funded and contracted out of the State Second Pension. The fund is valued at least every three years by a professionally qualified independent actuary with the rates of contribution payable being determined by the pension scheme trustees on the advice of the actuary. The Scheme operates as a pooled arrangement, with contributions paid at a centrally agreed rate. As a consequence, no share of the underlying assets and liabilities can be directly attributed to University of East London Students' Union. Under the terms of FRS 102, the discounted present value of future cash flows under a deficit funding arrangement is included as a liability in these accounts and the change in that valuation from year to year is taken to the statement of financial activities.

With effect from 30 September 2011 the scheme was closed to future accrual. Payments to the Students’ Union Superannuation Scheme continued after the closure of the scheme in the form of deficit funding and levies.

The Union also operates a defined contribution pension scheme and the pension charge represents the amounts payable by the company to the fund in respect of the year. Differences between contributions payable in the year and contributions actually paid are shown as either accruals or prepayments in the balance sheet.

Taxation

The charity is considered to pass the tests set out in sections 521 to 536 Income Tax Act 2007 (ITA 2007), as such no income tax is payable on the charity's activities.

Page 19

UNIVERSITY OF EAST LONDON STUDENTS' UNION

CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025

ACCOUNTING POLICIES

Leases

All leases are operating leases and the annual rentals are charged to the income and expenditure account on a straight line basis over the life of the lease.

Tangible Fixed Assets

Tangible fixed assets, costing more than £1,000, are stated at cost less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, of each asset on a systematic basis over its expected useful life as follows:

Clubs' and societies' equipment - 33.33% reducing balance Computer equipment - 20% per annum on cost Fixtures and fittings - 10%-20% reducing balance

Debtors and creditors receivable / payable within one year

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in expenditure.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Fund accounting

General funds are unrestricted funds which are available for use at the discretion of the trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes.

Designated funds are funds set aside by the trustees to be used at their discretion in furtherance of one or more specific purposes in furtherance of the objects.

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or raised by the charity for particular purposes. The cost of raising and administering such funds is charged against the specific fund. The aim and use of each restricted fund are set out in the notes to the financial statements

Page 20

UNIVERSITY OF EAST LONDON STUDENTS' UNION

CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025

NOTES TO THE FINANCIAL STATEMENTS

1. Donations and legacies

1. Donations and legacies
Block grant
Donated services and facilities		 Unrestricted
Funds
£
983,849
366,265
1,350,114		 Restricted
Funds
£
-
-
-		 Year ended
31 July
2025
Total
Funds
£
983,849
366,265
1,350,114		 Unrestricted
Funds
£
1,004,481
217,017
1,221,498		 Restricted
Funds
£
-
-
-		 Year ended
31 July
2024
Total
Funds
£
1,004,481
217,017
1,221,498

Donated services and facilities comprises provision by the University of fully serviced space to the Students’ Union at a value to the Union estimated at £300 per square metre and the provision of services for the supply of the Chief Executive Officer. The trustees regard this as an appropriate basis for determining value to the charity.

2. Income from charitable activities

Balls and events income
Societies income
Other income		 Unrestricted
Funds
£
1,337
650
6,206
8,193		 Restricted
Funds
£
-
-
-
-		 Year ended
31 July
2025
Total
Funds
£
1,337
650
6,206
8,193		 Unrestricted
Funds
£
3,339
-
7,369
10,708		 Restricted
Funds
£
-
-
-
-		 Year ended
31 July
2024
Total
Funds
£
3,339
-
7,369
10,708

3. Investment Income

Bank Interest Received Unrestricted
Funds
£
21,233
21,233		 Restricted
Funds
£
-
-		 Year ended
31 July
2025
Total
Funds
£
21,233
21,233		 Unrestricted
Funds
£
17,743
17,743		 Restricted
Funds
£
-
-		 Year ended
31 July
2024
Total
Funds
£
17,743
17,743

Page 21

UNIVERSITY OF EAST LONDON STUDENTS' UNION

CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025

NOTES TO THE FINANCIAL STATEMENTS

4. Expenditure on charitable activities
Charitable activities
Student Advice
Shops and Bars
Campaigns and Comms
Events and Entertainments
Clubs, Affiliations
Societies (restricted)
Governance
Legal and professional fees
Other governance costs
Unrestricted
Restricted
Charitable activities
Student Advice
Shops and Bars
Campaigns and Comms
Events and Entertainments
Clubs, Affiliations
Societies (restricted)
Governance
Legal and professional fees
Other governance costs
Unrestricted
Restricted		 Staff
costs
£
12,776
-
-
-
363,170
-
375,946
-
-
-
375,946
375,946
-
375,946
Staff
costs
£
1,410
-
-
-
379,577
-
380,987
-
-
-
380,987
380,987
-
380,987		 Other
direct
costs
£
38,145
-
59
81,371
192
-
119,767
8,820
22,264
31,084
150,851
150,851
-
150,851
Other
direct
costs
£
31,312
-
12
110,152
464
-
141,940
8,460
19,899
28,359
170,299
170,299
-
170,299		 Support
costs
(note 5)
£
65,277
-
76
104,312
465,800
-
635,465
-
39,847
39,847
675,312
675,312
-
675,312
Support
costs
(note 5)
£
25,479
-
9
85,770
295,921
-
407,179
-
22,082
22,082
429,261
429,261
-
429,261		 Year ended
31 July
2025
Total
Funds
£
116,198
-
135
185,683
829,162
-
1,131,178
8,820
62,111
70,931
1,202,109
1,202,109
-
1,202,109
Year ended
31 July
2024
Total
Funds
£
58,201
-
21
195,922
675,962
-
930,106
8,460
41,981
50,441
980,547
980,547
-
980,547

Page 22

UNIVERSITY OF EAST LONDON STUDENTS' UNION

CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025

NOTES TO THE FINANCIAL STATEMENTS

5. Support costs

Charitable activities
Student Advice
Retail
Campaigns and Comms
Democratic Representation
Events and Entertainments
Clubs, Affiliations
Societies (restricted)
Governance
Governance		 Staff
costs
£
-
-
-
-
-
-
-
-
-
-		 Other
direct
costs
£
65,277
-
76
-
104,312
465,800
-
635,465
39,847
675,312		 Year ended
31 July
2025
Total
Funds
£
65,277
-
76
-
104,312
465,800
-
635,465
39,847
675,312		 Staff
costs
£
-
-
-
-
-
-
-
-
-
-		 direct
costs
£
25,479
-
9
-
85,770
295,921
-
407,179
22,082
429,261		 Year ended
31 July
2024
Total
Funds
£
25,479
-
9
-
85,770
295,921
-
407,179
22,082
429,261

Included in other direct costs above is donated services and facilities of £366,265 (period to 31 July 2024: £217,017) which has been apportioned in line with other support costs as stated in the accounting policy. This relates to the provision by the University of fully serviced space to the Students’ Union at a value to the Union estimated at £300 per square metre and the provision of services for the supply of the Chief Executive Officer.

6. Pension charges

6. Pension charges
Pension charge Unrestricted
Funds
£
(130,256)
(130,256)		 Restricted
Funds
£
-
-		 Year ended
31 July
2025
Total
Funds
£
(130,256)
(130,256)		 Unrestricted
Funds
£
122,655
122,655		 Restricted
Funds
£
-
-		 Year ended
31 July
2024
Total
Funds
£
122,655
122,655

Further information on the pension deficit is given in notes 15 and 19.

7. Auditors' remuneration

Current year Unrestricted
Funds
£
8,820		 Restricted
Funds
£
-		 Year ended
31 July
2025
Total
Funds
£
8,820		 Unrestricted
Funds
£
8,460		 Restricted
Funds
£
-		 Year ended
31 July
2024
Total
Funds
£
8,460

Page 23

UNIVERSITY OF EAST LONDON STUDENTS' UNION

CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025

NOTES TO THE FINANCIAL STATEMENTS

8. Wages and salary cost GROUP CHARITY CHARITY
Period ended Year ended Year ended
31 July 31 July 31 July
2025 2025 2024
Total Total Total
Funds Funds Funds
£ £ £
Gross wages 518,439 468,736 422,297
Employer's national insurance costs 43,097 41,374 35,703
Pension costs 18,864 18,695 17,659
Pension deficit charge (128,653) (130,256) 122,655
451,748 398,549 598,314
The average number of employees during the period under review was: Period ended Year ended Year ended
31 July 31 July 31 July
2025 2025 2024
Assessed on an average headcount basis 20 21 16
There were no employees with emoluments (excluding employer pension costs) above £60,000 in this or the preceding year
The number of staff to whom retirement benefits are accruing under defined contribution schemes: Year ended Year ended
31 July 31 July
2025 2024
Management 1 1
Student services 8 8
9 9

9. Related party transactions

The union's sabbatical officers received employee benefits totalling £91,375 in the period under review, as authorised under the charity's governing document, for the work they undertake in furtherance of the charity's objects rather than for carrying out their responsibilities as trustees as set out below.

Dipika Gokulnath
Anbaraghan Jagadeesan
Sai Sampath Sangu		 Salary
£
27,266
27,230
27,266
81,762		 Employer's NI
2,787
2,151
2,787
7,725		 Pension
£
770
-
1,118
1,888		 Total
£
30,823
29,381
31,171
91,375

Sabbatical officers were reimbursed £141 for travel and subsistence expenses during the period under review (2024: £270).

During the year 6 (2024: 9) trustees had expenses paid for by the charity totalling £1,333 (2024: £4,504) in relation to travel and subsistence.

In addition to the employee benefits received by the union's sabbatical officers the senior management team, which make up the remaining key management personnel, received employee benefits totalling £59,952 inclusive of salary, employer national insurance contributions and employer pension contributions. During the year 1 (2024: 1) member of the senior management team was reimbursed expenses totalling £127 (2024: £385) for trustee meeting refreshments.

Page 24

UNIVERSITY OF EAST LONDON STUDENTS' UNION

CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025

NOTES TO THE FINANCIAL STATEMENTS

10. Fixed assets
Cost
At 31 July 2024
Additions
Disposals
At 31 July 2025
Depreciation
Accumulated at 31 July 2024
Charge for the year
On disposals
At 31 July 2025
Net book value at 31 July 2025
Net book value at 31 July 2024
11. Stocks
Stock
12. Debtors
Trade debtors
Prepayments and accrued income
Other debtors
Amounts receivable from trading subsidiary
13. Current asset investments
Short term deposits		 Club and
societies
equipment
£
229
-
-
229
116
37
-
153
76
113		 Computer
equipment
£
88,207
22,085
-
110,292
21,175
19,468
-
40,643
69,649
67,032
GROUP
31 July
2025
Total
Funds
£
5,965
5,965
GROUP
31 July
2025
Total
Funds
£
-
3,375
2,950
-
6,325		 Fixtures &
fittings
TOTAL
£
£
-
88,436
21,335
43,420
-
-
21,335
131,856
-
21,291
772
20,277
-
-
772
41,568
20,563
90,288
-
67,145
31 July
31 July
398549
598314
Total
Total
Funds
Funds
£
£
3,590
-
3,590
-
31 July
31 July
2025
2024
Total
Total
Funds
Funds
£
£
-
-
3,375
5,610
2,950
-
56,938
-
63,263
5,610
31 July
31 July
2025
2024
Total
Total
Funds
Funds
£
£
763,245
-
CHARITY
CHARITY		 TOTAL
£
88,436
43,420
-
131,856
21,291
20,277
-
41,568
90,288
67,145
5,610
31 July
2024
Total
Funds
£
-

Page 25

CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025

UNIVERSITY OF EAST LONDON STUDENTS' UNION

NOTES TO THE FINANCIAL STATEMENTS

14. Creditors

14. Creditors
Trade creditors
Accruals
Social security
Other creditors
Pension liability (current)		 31 July
2025
Total
Funds
£
1,681
27,782
13,632
1,637
92,318
137,050		 31 July
2024
Total
Funds
£
1,650
14,805
2,558
442
92,758
112,213

15. Creditors due after more than one year

Pension liability
Balance brought forward
Scheduled payments made
Addition for extended period, change in rate and unwinding of discount
Balance carried forward
Pension liability (current)
Pension liability (non-current)		 31 July
2025
Total
Funds
£
1,237,819
(92,319)
(130,256)
1,015,244
92,318
922,926
1,015,244		 31 July
2024
Total
Funds
£
1,205,220
(90,056)
122,655
1,237,819
92,758
1,145,061
1,237,819

16. Analysis of net movement in funds - Charity

Restricted funds
Societies funds
Unrestricted funds
Pension reserve
Capital reserve
Total designated funds
General fund
Total unrestricted funds
Total funds		 Total funds
brought
forward
01 Aug 2024
£
13,522
13,522
(1,237,819)
67,145
(1,170,674)
1,166,600
(4,074)
9,448		 Total
incoming
resources
£
-
-
-
-
-
1,379,540
1,379,540
1,379,540		 Total
resources
expended
£
-
-
-
-
-
(1,202,109)
(1,202,109)
(1,202,109)		 Pension
charges
£
-
-
131,859
-
131,859
(1,603)
130,256
130,256		 Transfers
between
funds
£
-
-
92,319
23,143
115,462
(115,462)
-
-		 Total funds
carried
forward
31 Jul 2025
£
13,522
13,522
(1,013,641)
90,288
(923,353)
1,226,966
303,613
317,135

Societies’ restricted funds represent monies raised for use in furtherance of the Societies’ particular activities.

The pension reserve designated fund represents the net present value of future cash flows from an obligation to fund a deficit.

The capital reserve designated fund represents funds used for the acquisition of tangible fixed assets. Depreciation on those assets is charged against the designated capital reserve fund.

Page 26

UNIVERSITY OF EAST LONDON STUDENTS' UNION

CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025

NOTES TO THE FINANCIAL STATEMENTS

16. Analysis of net movement in funds - Group

Restricted funds
Societies funds
Unrestricted funds
Pension reserve
Capital reserve
Total designated funds
General fund
Total unrestricted funds
Total funds		 Total funds
brought
forward
01 Aug 2024
£
13,522
13,522
(1,237,819)
67,145
(1,170,674)
1,166,600
(4,074)
9,448		 Total
incoming
resources
£
-
-
-
-
-
1,461,634
1,461,634
1,461,634		 Total
resources
expended
£
-
-
-
-
-
(1,338,767)
(1,338,767)
(1,338,767)		 Pension
charges
£
-
-
130,256
-
130,256
-
130,256
130,256		 Transfers
between
funds
£
-
-
92,319
23,143
115,462
(115,462)
-
-		 Total funds
carried
forward
31 Jul 2025
£
13,522
13,522
(1,015,244)
90,288
(924,956)
1,174,005
249,049
262,571

17. Analysis of net assets between funds - Charity

Fixed assets
Net current assets
Provisions for liabilities
Fixed asset
Net current assets
Provisions for liabilities
18. Analysis of changes in net debt
Cash equivalents		 Unrestricted
Funds
£
-
1,228,569
-
1,228,569
Unrestricted
Funds
£
-
1,166,600
-
1,166,600		 Designated
Funds
£
90,288
(92,318)
(922,926)
(924,956)
Designated
Funds
£
67,145
(92,758)
(1,145,061)
(1,170,674)
31 July 2024
1,193,967
1,193,967		 Restricted
Funds
£
-
13,522
-
13,522
Restricted
Funds
£
-
13,522
-
13,522
Cashflows
26,002
26,002		 31 July
2025
Total
Funds
£
90,288
1,149,773
(922,926)
317,135
31 July
2024
Total
Funds
£
67,145
1,087,364
(1,145,061)
9,448
31 July 2025
1,219,969
1,219,969

Page 27

CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025

UNIVERSITY OF EAST LONDON STUDENTS' UNION

NOTES TO THE FINANCIAL STATEMENTS

19. Pensions

The Union is a Participating Employer in the Students’ Union Superannuation Scheme, which is a defined benefit scheme whose membership consists of employees of students’ unions and related bodies throughout the United Kingdom. Benefits in respect of service up to 30 September 2003 are accrued on a “final salary” basis, with benefits in respect of service from 1 October 2003 accruing on a Career Average Revalued Earnings (CARE) basis. With effect from 30 September 2011 the Scheme closed to future accrual.

The most recent Triannual Valuation of the Scheme was carried out as at 30 June 2022 and showed that the market value of the Scheme’s assets was £106,697,000 (2019: £119,100,000) excluding AVC's and insured pensioners with these assets representing 44% (2019: 46%) of the value of benefits that have accrued to members. The deficit on an ongoing funding basis amounted to £136,645,000, (2019: £140,900,000).

The assumptions used in the valuation are as follows:

Discount rate Gilts curve + 1.5% pa, linearly changing over the term of 13 years to gilts curve + 0.25% pa Price inflation (RPI) Merrill Lynch swap-implied inflation curve Price inflation (CPI) - pre 2030 RPI inflation less 0.7% pa Price inflation (CPI) - post 2030 RPI inflation less 0.1% pa Pension increases A model of each increase, allowing for insurers' relative pricing of different caps and collars

Mortality rates 95% of S3PXA Allowance for improvements in life expectancy: Projection tables CMI_2019 Long- term improvement rate 1.752% pa Initial addition parameter 1.00% pa Smoothing paramater 7.0

The 2022 Valuation funding shortfall recovery plan requires a monthly contribution requirement by each Participating Employer up to 1 May 2037 increasing by 5% each year. These contributions also include an allowance for the cost of the ongoing administrative and operational expenses of running the Scheme. These rates apply with effect from 1 October 2020 and will be formally reviewed following completion of the next Valuation due with an effective date of 30 June 2025. Surpluses or deficits which arise at future valuations will also impact on the Union’s future contribution commitment. In addition to the above contributions, the Union also pays its share of the Scheme’s levy to the Pension Protection Fund.

The total contributions paid into the Scheme by University of East London Students' Union in respect of eligible employees for the period ended 31 July 2025 amounted to £92,319 (31 July 2024: £88,527).

At the balance sheet date the charity had commitments to pay deficit funding contributions of £7,786 per month. This monthly payment is scheduled to increase by 5% per annum at October each year until 1 May 2037.

Defined Contributions Pension Scheme

Since 1 October 2011, all participating employees have been in a new defined contribution pension scheme with Scottish Equitable. Contributions are at the rate of 7.7% for the employer and the % for the employee differs per member. The Union’s cost of contribution in the period amounted to £17,659 (2023: £11,595).

Page 28

UNIVERSITY OF EAST LONDON STUDENTS' UNION

CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025

NOTES TO THE FINANCIAL STATEMENTS

20. Comparative figures - Statement of Financial Activities

Note
INCOME AND ENDOWMENTS FROM:
Donations and legacies
1
Charitable activities
2
Investment Income
3
Total
EXPENDITURE ON:
Charitable activities
4
Total
Net Income
Transfers between funds
15
Pension charges
14
Net movement in funds
RECONCILIATION OF FUNDS
Total funds brought forward
15
Total funds carried forward
15		 Unrestricted
Funds
£
1,221,498
10,708
17,743
1,249,949
980,547
980,547
269,402
-
(122,655)
146,747
(150,821)
(4,074)		 Restricted
Funds
£
-
-
-
-
-
-
-
-
-
13,522
13,522		 Year ended
31 July
2024
Total
Funds
£
1,221,498
10,708
17,743
1,249,949
980,547
980,547
269,402
-
(122,655)
146,747
(137,299)
9,448

Page 29

UNIVERSITY OF EAST LONDON STUDENTS' UNION

CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025

NOTES TO THE FINANCIAL STATEMENTS

21. Investment in subsidiary

The charity owns the entire issued share capital of East London Students' Union Trading Ltd (registered company number 16175174)

Shares in East London Students' Union Trading Limited
Profit and loss account
Turnover
Cost of sales
Gross profit
Distribution costs
Administrative expenses
Net profit/(loss)
Capital and reserves
Profit and loss account brought forward
Net profit/(loss)
Profit and loss account carried forward
Share capital
Total capital and reserves		 Shares held
No.
1		 Par value
£
1
2025		 Total
£
1		 2024
Total
£
0
Period to
31 July
2025
82,094
(41,161)
40,933
(52,196)
(43,301)
(54,564)
-
(54,564)
(54,564)
1
(54,563)

Page 30

Annual report and financial statements 2025-07-31

Final Audit Report

2026-03-26

Created: 2026-03-12 By: Paddy Reilly (P.Reilly@uel.ac.uk) Status: Signed Transaction ID: CBJCHBCAABAA_XyDta9J_0PdLirt0_W9QyoXUanb_3Sx

"Annual report and financial statements 2025-07-31" History

Document created by Paddy Reilly (P.Reilly@uel.ac.uk)

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