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2025-07-31-accounts

Charity number: 1179422

ASSOCIATION OF HIGHER EDUCATION PROFESSIONALS

TRUSTEES' REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2025

ASSOCIATION OF HIGHER EDUCATION PROFESSIONALS

CONTENTS

Page
Reference and administrative details of the Charity, its Trustees and advisers 1
Trustees' report 2 - 9
Independent auditor's report on the financial statements 10 - 13
Consolidated statement of financial activities 14
Consolidated balance sheet 15
Charity balance sheet 16
Consolidated statement of cash flows 17
Notes to the financial statements 18 - 38

ASSOCIATION OF HIGHER EDUCATION PROFESSIONALS

REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 JULY 2025

Trustees

Thea Gibbs, Chair Mike Mercer, Vice Chair Lucy Hayward, Treasurer Jonathan Dempsey Emily Khan Valerie Foy Nikki Pierce Josh Gulrajani Rachel Hill-Kelly, Honorary Secretary James Irving

Charity registered number

1179422

Principal office

AHEP Office B1 George Begg Building Sackville Street Manchester M1 3BB

Principal operating office

AHEP Office B1 George Begg Building Sackville Street Building Manchester

Independent auditor

Crowe U.K. LLP 3rd floor St George's House 56 Peter St Manchester M2 3NQ

Senior management team

Colin Ferguson (Executive Director)

Anna Green (Head of Finance)

Ella Popper (Head of Professional Development)

Page 1

ASSOCIATION OF HIGHER EDUCATION PROFESSIONALS

TRUSTEES' REPORT FOR THE YEAR ENDED 31 JULY 2025

Dear Members,

The higher education sector has faced one of its most testing years in recent memory. Universities have been operating in a constrained financial environment, and this has had a direct impact on AHEP. As a membership body that exists to serve and reflect the sector, AHEP has inevitably felt these pressures.

The Board has monitored the position closely throughout the year. Financial information was reviewed regularly, discussed transparently, and acted upon as soon as a sustained trend became apparent. In early 2025, as the realities of the sector’s financial climate began to take effect, the Association took immediate and robust action. This included a detailed financial review, consultation with auditors, and the development of a cost-saving plan to protect core operations while ensuring that AHEP remains a going concern with a clear path to recovery.

It is important to recognise that at the time of the Board’s November 2024 meeting, there were no indications that income would slow. Institutional partnerships were on track, consultancy was exceeding expectations, and conference bookings were ahead of forecast. Although the sector environment was tightening, all available data pointed to continued stability. Over the Christmas period, however, institutional spending contracted sharply, and income that had previously been forecast simply did not materialise. As soon as the implications became clear, the Chair, Treasurer and Executive Director initiated a controlled response. Because staffing represents the only significant variable cost, this inevitably involved careful vacancy management and a formal redundancy process, which typically takes several months to complete.

The Board and Executive acted swiftly and responsibly to safeguard the charity’s long-term sustainability. Every step taken has been informed by evidence, professional advice and the duty to act in the best interests of members and beneficiaries. Our focus now is on rebuilding and restoring reserves, ensuring that AHEP remains resilient and able to deliver its charitable objectives for many years to come.

Despite the challenging environment, AHEP’s activity and influence have continued to grow. The professional development programme has maintained strong participation levels, and the Annual Conference provided a platform for practical discussion on leadership and sustainability in higher education. Our consulting arm has become a trusted source of support for institutions navigating the current context, while the redesign of the institutional partnership model will ensure that it offers direct solutions to institutional challenges and delivers stronger return on investment.

Looking ahead, our priorities are clear: expanding the consulting offer; embedding a new account-management approach to strengthen relationships with partners; launching our “Just One Member” recruitment drive to encourage every member to bring one colleague into the community; and working collaboratively with other sector associations to maximise collective impact and cost-effectiveness. These actions will help secure AHEP’s financial position and reinforce the Association’s role as the professional home for higher education practitioners across the UK and Ireland.

On behalf of the Board, I want to thank our members, partners and staff team for their commitment, professionalism and resilience throughout this period. Your dedication has been vital in steering the Association through uncertainty, and it will continue to shape the renewal and growth that lie ahead.

Name: Thea Gibbs Chair Date: 18/12/2025

Page 2

ASSOCIATION OF HIGHER EDUCATION PROFESSIONALS

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 JULY 2025

The Trustees present their annual report together with the audited financial statements of the group and the charity for the 1 August 2024 to 31 July 2025.

Objectives and activities

a. Policies and objectives

The Trustees have complied with the duty in Section 17 of the Charities Act 2011 to have due regard to the guidance on public benefit published by the Charities Commission.

The governing document of the Association states that “the Object of the Association is to advance and assist in the advancement of education by fostering sound methods of leadership, management and administration in further and higher education by education, training and other means.”

In furtherance of this Object, AHEP’s mission is to empower and connect higher education professionals, supporting their growth and facilitating professional development throughout their careers. We promote excellence in higher education management, advance professional standards, and provide access to networks, knowledge and collaborative learning across the sector.

AHEP’s 2023–28 strategy continues to provide the framework for delivery. Its direction has not changed, but the focus within it has necessarily adapted in response to sector challenges and changing financial realities. During 2024–25, emphasis shifted towards consolidating core operations, strengthening financial resilience, and demonstrating clear return on investment for members and institutional partners.

The strategy remains built on three pillars:

  1. Identity, Purpose and Engagement – reinforcing AHEP’s voice and visibility in the sector, enhancing engagement with members, and rebuilding confidence in the profession’s collective identity.

  2. Fit-for-the-Future Products – sustaining and refining our membership, professional development and consulting offers, ensuring they are financially sustainable, responsive to member needs, and evidencebased.

  3. Strategic Sector Partnerships – extending collaboration with other professional associations to increase collective impact and cost-effectiveness, while re-designing the institutional partnership model to align with institutional priorities.

b. Main activities undertaken to further the Charity's purposes for the public benefit

The Association continues to deliver a programme of activity designed to advance leadership, management and administration in higher education. During 2024–25, this included:

Page 3

ASSOCIATION OF HIGHER EDUCATION PROFESSIONALS

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 JULY 2025

Objectives and activities (continued)

and Ireland, focused on improving professional service practice and performance.

All activities are reviewed regularly by the Board to ensure they continue to further the Association’s charitable purpose and deliver demonstrable public benefit.

The financial results for the year are set out on pages 14 to 37 of this report.

Achievements and performance

a. Investment policy and performance

AHEP's policy is to invest its reserves prudently on behalf of its members whilst ensuring there are sufficient funds to cover operational expenditure. The Association invests its cash surpluses in Barclays Treasury Deposit Accounts for periods, which maximise interest from the investment whilst ensuring funds are available to meet cash flow purposes. The AHEP is working towards splitting cash investment across a variety of banks and interest bearing accounts in order to improve returns whilst minimising risk.

Financial review

a. Going concern

The trustees have carefully considered the appropriateness of the going concern assumption. Despite the financial pressures experienced during the year, they believe it remains appropriate to prepare the financial statements on this basis.

The Association entered the year with healthy reserves and no financial warning signs. As the sector’s financial climate deteriorated rapidly, the Board acted promptly, implementing a cost-saving plan and refocusing resources on essential delivery. The trustees have reviewed and stress-tested financial forecasts and the risk register, sought advice from the Association’s auditors, and are satisfied that AHEP has sufficient resources to continue operating for the foreseeable future.

The trustees therefore confirm that AHEP remains a going concern, with a clear plan to restore reserves and strengthen financial sustainability through renewed income growth in consulting, membership, and institutional partnerships.

Page 4

ASSOCIATION OF HIGHER EDUCATION PROFESSIONALS

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 JULY 2025

b. Financial risk management objectives and policies

The trustees keep the Association’s activities under continual review, with particular attention to any major risks that may arise. These include risks related to income volatility, conference and event performance, and delivery capacity.

A formal risk register is maintained and reviewed regularly by the Board. The Association’s internal controls are designed to identify and mitigate risk through careful financial monitoring, prudent budgeting, and external audit. Insurance cover is maintained where appropriate.

To ensure effective oversight between Board meetings, a monthly financial review meeting is held between the Executive Director, Chair and Treasurer to monitor financial performance and liquidity. The risk register is actively managed and updated in response to emerging issues, ensuring that mitigation measures remain current and proportionate. Financial controls have been further strengthened, with sign-off thresholds tightened as a precautionary measure, not in response to any concern, but to reflect the current external context and reinforce good governance.

c. Investments and financial reserves

The Board recognises that 2024–25 was a year of financial adjustment for the Association. In recent years, the Board had made deliberate strategic investments to deliver the 2023–28 strategy including developing AHEP’s new brand and identity, membership offer and account management, strengthening staffing capacity, and expanding AHEP Consulting and the institutional partnership model.

At the point of making these commitments, there was no indication of the downturn that followed; income and reserves were healthy, and the Board took the view that reinvestment in the organisation’s long-term capacity was both timely and responsible. These investments have strengthened AHEP’s infrastructure and sector positioning, though they necessarily reduced the level of available reserves.

The subsequent deterioration in the higher-education funding environment, which accelerated rapidly from late 2024, placed additional pressure on income. The Board responded by introducing tighter financial controls, reducing expenditure, and refocusing resources on core activity and income recovery.

While the Association ended the year with a lower level of reserves than in previous periods, it remains financially viable and continues to meet all its obligations in full. The trustees have approved a recovery plan focused on restoring reserves through growth in consulting, membership, and institutional partnerships, supported by close financial monitoring and prudent management of expenditure.

AHEP’s investment policy continues to prioritise capital preservation and liquidity. Surplus cash is held in lowrisk, interest-bearing accounts to ensure that funds are available to meet operating needs while earning modest returns.

d. Reserves policy

In accordance with the revised reserves policy agreed by the Board in June 2015, the Association seeks to return surpluses to reserves of between 1 and 5 per cent of turnover each year. Any additional surplus above this level may be designated for specific strategic use. Designated funds are part of unrestricted reserves that trustees have earmarked for particular projects or developments, without creating a legal restriction; designations may be reviewed or cancelled by the Board if priorities change.

At 31 July 2025, total reserves stood at negative £37,765. While the level of reserves is lower than in previous years following planned strategic investments and the impact of the wider sector downturn, the Association continues to maintain healthy cash balances and strong liquidity.

Page 5

ASSOCIATION OF HIGHER EDUCATION PROFESSIONALS

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 JULY 2025

The Board is therefore satisfied that, although reserves are being rebuilt, the Association remains able to meet all its obligations and to manage its operations effectively. The focus for 2025–26 is on restoring reserves progressively through renewed income growth, cost discipline, and close cash-flow management.

e. Principal funding

AHEP’s income is derived primarily from individual membership subscriptions, supplemented by income from consultancy, institutional partnerships, professional development events, and other member services. Subscription income accounted for approximately £165k, representing 22% of total income in 2024–25 (compared with £184k or 25% in 2023–24).

Consulting and partnership income continued to perform well despite the wider sector contraction, demonstrating the resilience of AHEP’s professional services offer. Other income sources include events such as the Annual Conference, sponsorship, and modest revenue from advertising and publications.

The Board continues to monitor income diversification closely, with an ongoing focus on consulting growth, membership recruitment, and the redesign of the institutional partnership model to ensure that it offers demonstrable value and sustained engagement for institutions.

f. Financial summary

The Board remains fully committed to the financial sustainability of the Association and is confident that the measures in place will ensure its continued viability. The Board’s priority is to rebuild reserves steadily while protecting member services and maintaining the quality of professional development, consultancy, and events.

Throughout 2024–25, financial management has been strengthened through monthly review meetings between the Executive Director, Chair and Treasurer, improved forecasting, and tighter control of expenditure. Staff costs and operational expenditure are monitored closely to ensure alignment with income trends and strategic priorities.

While the Association reported a planned deficit for the year, this reflects the timing of strategic investments and the wider financial climate rather than any structural weakness. Cash flow remains healthy, and liquidity has been carefully managed in line with auditors’ advice.

The trustees are satisfied that the Association remains in a sound financial position and that the actions taken during the year provide a solid foundation for recovery and renewed growth in 2025–26.

Structure, governance and management

a. Constitution

The Association of Higher Education Professionals (AHEP) is a Charitable Incorporated Organisation (CIO), registered with the Charity Commission under number 1179422.

The principal object of the charity is to advance and assist in the advancement of education by fostering sound methods of leadership, management and administration in further and higher education through education, training and other means.

Page 6

ASSOCIATION OF HIGHER EDUCATION PROFESSIONALS

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 JULY 2025

Structure, governance and management (continued)

b. Methods of appointment or election of Trustees

The management of the charity is the responsibility of the Board of Trustees, who are elected and co-opted under the terms of the Constitution.

A Nominations Panel, comprising at least two trustees, two co-opted members of the Association and a senior member of staff, considers and recommends the appointment of new trustees to the Board. Any person wishing to be nominated for a trustee vacancy must follow the procedures set out by the Association.

In assessing nominations, the Panel reviews candidates’ relevant skills, knowledge and experience to ensure a balanced mix across the Board. Recommendations are submitted for formal approval by the full Board of Trustees.

c. Policies adopted for the induction and training of Trustees

All trustees receive a structured induction to ensure that they understand the Association’s constitution, objectives, and governance responsibilities. This includes briefing materials, meetings with the Executive Director and Chair, and access to relevant Charity Commission guidance.

Trustees are encouraged to attend external charity-governance training where appropriate, and to draw on their professional experience within the higher-education sector. The Board periodically reviews its collective skills profile to ensure it continues to provide effective oversight and stewardship.

d. Governance practice

The Board meets regularly to oversee the Association’s strategic direction, financial performance and risk management. Monthly financial review meetings between the Executive Director, Chair and Treasurer provide additional assurance and support to the wider Board.

During 2024–25, governance arrangements were strengthened through clearer delegation of authority, tightened financial sign-off thresholds and a renewed focus on proportionate risk management. These enhancements were precautionary measures reflecting the sector context rather than a response to any governance concern.

The trustees continue to ensure that the Association operates with integrity, transparency and accountability, in full compliance with its charitable objectives and the requirements of the Charity Commission.

Page 7

ASSOCIATION OF HIGHER EDUCATION PROFESSIONALS

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 JULY 2025

Plans for future periods

The Board remains committed to the delivery of the 2023–28 strategy, which continues to guide all operational and strategic decisions. While the strategic direction remains unchanged, the focus and pace of implementation have been adjusted in response to the current financial environment and the need to rebuild reserves.

The priority for 2025–26 is to strengthen AHEP’s financial resilience while maintaining the quality and relevance of services to members. This includes consolidating core activities, rebuilding membership growth momentum, and positioning AHEP Consulting and the institutional partnership model as key drivers of sustainable income and sector impact. AHEP’s response to its own financial challenges is built on a deep understanding of the challenges of the wider sector and is therefore focused on providing solutions to members and institutions that are cost-conscious and affordable in the current context, whilst supporting and investing in our members’ professional development for future sector demands.

The Board’s recovery plan centres on four priorities:

These priorities are supported by disciplined governance, monthly financial reviews, and proportionate risk management to ensure progress is closely monitored and corrective action taken swiftly where required.

Auditors

The trustees wish to record their thanks to Crowe UK LLP, the Association’s auditors, for their professional advice and support during the year. The Board has worked with Crowe for several years and continues to receive robust, high-quality advice and service. In line with good governance practice and Charity Commission guidance, the trustees periodically review audit arrangements to ensure they continue to provide best value and appropriate challenge. The Board is therefore considering whether to conduct a market review of audit services during 2025–26, as part of its regular governance cycle.

Page 8

ASSOCIATION OF HIGHER EDUCATION PROFESSIONALS

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 JULY 2025

Statement of Trustees' responsibilities

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

The law applicable to charities in England & Wales requires the Trustees to prepare financial statements for each financial which give a true and fair view of the state of affairs of the Group and the Charity and of their incoming resources and application of resources, including their income and expenditure, for that period. In preparing these financial statements, the Trustees are required to:

The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Group and the Charity's transactions and disclose with reasonable accuracy at any time the financial position of the Group and the Charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the Trust deed. They are also responsible for safeguarding the assets of the Group and the Charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Disclosure of information to auditor

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

Approved by order of the members of the board of Trustees on 18 December 2025 and signed on their behalf by:

Thea Gibbs

Page 9

ASSOCIATION OF HIGHER EDUCATION PROFESSIONALS

INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF ASSOCIATION OF HIGHER EDUCATION PROFESSIONALS

Opinion

We have audited the financial statements of Association of Higher Education Professionals (the 'parent charity') and its subsidiaries (the 'group') for the year ended 31 July 2025 which comprise the Consolidated statement of financial activities, the Consolidated balance sheet, the Charity balance sheet, the Consolidated statement of cash flows and the related notes, 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).

The financial statements have been prepared in accordance with Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standards applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has been withdrawn.

This has been done in order for the accounts to provide a true and fair view in accordance with the Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.

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 United Kingdom, including the Financial Reporting Council's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating 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's 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.

Page 10

ASSOCIATION OF HIGHER EDUCATION PROFESSIONALS

INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF ASSOCIATION OF HIGHER EDUCATION PROFESSIONALS (CONTINUED)

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 contained within the Annual report. 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. 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 course of 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 this gives rise to a material misstatement in the financial statements themselves. 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.

Matters on which we are required to report by exception

We have nothing to report in respect of the following matters where the Charities (Accounts and Reports) Regulations 2008 requires us to report to you if, in our opinion:

Responsibilities of trustees

As explained more fully in the Trustees' responsibilities statement, the Trustees are responsible for the preparation of the financial statements which give a true and fair view, and for such internal control as the Trustees determine is necessary to enable the preparation of 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's and the 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 Group or the parent charity or to cease operations, or have no realistic alternative but to do so.

Page 11

ASSOCIATION OF HIGHER EDUCATION PROFESSIONALS

INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF ASSOCIATION OF HIGHER EDUCATION PROFESSIONALS (CONTINUED)

Auditor's responsibilities for the audit of the financial statements

We have been appointed as auditor under section 152 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder.

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:

We obtained an understanding of the legal and regulatory frameworks within which the charity operates, focusing on those laws and regulations that have a direct effect on the determination of material amounts and disclosures in the financial statements. The laws and regulations we considered in this context was the Charities Act 2011 legislation.

We identified areas of laws and regulations that could reasonably be expected to have a material effect on the financial statements from our sector experience, through discussions with the Trustees, and from inspections of the Charities' board minutes and legal and regulatory correspondence.

We assessed the susceptibility of the financial statements to material misstatement, including how fraud might occur, by meeting with management from relevant parts of the business to understand where management considered there was a susceptibility to fraud. We also considered the potential for management to manage earnings and influence the perceptions of the financial statements.

We identified the greatest risk of material impact on the financial statements from irregularities, including fraud, to be the override of controls by management and the completeness and accruacy of income recognition excluding membership and subscription income.

Audit procedures performed by the engagement team included:

Our audit procedures were designed to respond to risks of material misstatement in the financial statements, recognising that the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery, misrepresentations or through collusion. There are inherent limitations in the audit procedures performed and the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we are to become aware of it.

Page 12

ASSOCIATION OF HIGHER EDUCATION PROFESSIONALS

INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF ASSOCIATION OF HIGHER EDUCATION PROFESSIONALS (CONTINUED)

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

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

Use of our report

This report is made solely to the charity's trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charity's trustees 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 charity and its trustees, as a body, for our audit work, for this report, or for the opinions we have formed.

Crowe U.K. LLP

Statutory Auditor

3rd floor

St George's House

56 Peter St Manchester M2 3NQ

Date: 23 December 2025

Crowe U.K. LLP are eligible to act as auditors in terms of section 1212 of the Companies Act 2006.

Page 13

ASSOCIATION OF HIGHER EDUCATION PROFESSIONALS

CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 JULY 2025

Note
Income from:
Charitable activities
4
Other trading activities
5
Investments
6
Total income
Expenditure on:
Raising funds
Charitable activities
7
Total expenditure
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Net movement in funds
Total funds carried forward		 Unrestricted
funds
2025
£
594,143
162,977
3,737
760,857
121,195
835,404
956,599
(195,742)
157,977
(195,742)
(37,765)		 Total
funds
2025
£
594,143
162,977
3,737
760,857
121,195
835,404
956,599
(195,742)
157,977
(195,742)
(37,765)		 Total
funds
2024
£
601,430
125,892
5,605
732,927
6,817
945,497
952,314
(219,387)
377,364
(219,387)
157,977

The Consolidated Statement of Financial Activities includes all gains and losses recognised in the year.

The notes on pages 18 to 38 form part of these financial statements.

Page 14

ASSOCIATION OF HIGHER EDUCATION PROFESSIONALS

CONSOLIDATED BALANCE SHEET AS AT 31 JULY 2025

Note
Fixed assets
Intangible assets
13
Tangible assets
14
Current assets
Debtors
16
Cash at bank and in hand
Current liabilities
Creditors: amounts falling due within one
year
17
Net current liabilities / assets
Total net assets
Charity funds
Restricted funds
18
Unrestricted funds
18
Total funds		 235,461
111,881
347,342
(400,475)		 2025
£
15,157
211
15,368
(53,133)
(37,765)
-
(37,765)
(37,765)		 176,250
319,973
496,223
(375,847)		 2024
£
36,852
749
37,601
120,376
157,977
-
157,977
157,977

The financial statements were approved and authorised for issue by the Trustees on 18 December 2025 and signed on their behalf by:

Thea Gibbs

Trustee

The notes on pages 18 to 38 form part of these financial statements.

Page 15

ASSOCIATION OF HIGHER EDUCATION PROFESSIONALS

CHARITY BALANCE SHEET AS AT 31 JULY 2025

Note
Fixed assets
Intangible assets
13
Tangible assets
14
Investments
15
Current assets
Debtors
16
Cash at bank and in hand
Current liabilities
Creditors: amounts falling due within one
year
17
Net current assets
Total assets less current liabilities
Net assets excluding pension asset
Total net assets
Charity funds
Restricted funds
18
Unrestricted funds
18
Total funds		 83,643
108,191
191,834
(173,424)		 2025
£
-
120
100
220
18,410
18,630
18,630
18,630
-
18,630
18,630		 89,955
317,022
406,977
(212,767)		 2024
£
4,295
144
100
4,539
194,210
198,749
198,749
198,749
-
198,749
198,749

The financial statements were approved and authorised for issue by the Trustees on 18 December 2025 and signed on their behalf by:

Thea Gibbs

Trustee

The notes on pages 18 to 38 form part of these financial statements.

Page 16

ASSOCIATION OF HIGHER EDUCATION PROFESSIONALS

CONSOLIDATED STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 JULY 2025

Note
Cash flows from operating activities
Net cash used in operating activities
20
Cash flows from investing activities
Net cash provided by investing activities
Cash flows from financing activities
Dividends, interests and rents from investments
Purchase of intangible assets
Loss on disposal of tangible fixed assets
Net cash provided by/(used in) financing activities
Change in cash and cash equivalents in the year
Cash and cash equivalents at the beginning of the year
Cash and cash equivalents at the end of the year
21
The notes on pages 18 to 38 form part of these financial statements		 2025
£
(211,829)
-
3,737
-
-
3,737
(208,092)
319,973
111,881		 2024
£
(184,705)
-
5,605
(27,238)
454
(21,179)
(205,884)
525,857
319,973

Page 17

ASSOCIATION OF HIGHER EDUCATION PROFESSIONALS

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025

1. General information

Association of Higher Education Professionals is a registered charitable incorporated organisation in England and Wales with a registered office at B1 George Begg Building, Sackville Street, Manchester, M1 3BB.

The trustees consider the charity to be a public benefit entity for the purposes of FRS 102.

2. Accounting policies

2.1 Basis of preparation of financial statements

The financial statements have been prepared in accordance with the Charities SORP (FRS 102) - 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 (FRS 102) (effective October 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.

The financial statements have been prepared to give a 'true and fair' view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a 'true and fair' view. This departure has involved following the Charities SORP (FRS 102) published in October 2019 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.

Association of Higher Education Professionals meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.

The Consolidated statement of financial activities (SOFA) and Consolidated balance sheet consolidate the financial statements of the Charity and its subsidiary undertaking. The results of the subsidiary are consolidated on a line by line basis.

2.2 Going concern

As part of its going concern assessment, the Board of Trustees has considered Group budgets and cash flow forecasts to 31 December 2026. The initial forecasts indicate potential challenges in maintaining cash flow at a sustainable level beyond the next financial year, influenced by the financial instability currently affecting the higher education sector. In response, management is actively exploring a range of cost-saving measures and operational efficiencies to strengthen the Charity’s financial position. While the successful implementation of these initiatives is expected to mitigate the risk, there remains a degree of uncertainty until these actions are fully executed and their impact assessed.

Considering the uncertainties as described above, the Trustees have a reasonable expectation that the Group has and will have adequate resources to continue in operational existence for the forecast period. For these reasons, they continue to adopt the going concern basis of accounting in preparing this financial information.

2.3 Income

All income is recognised once the Charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.

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ASSOCIATION OF HIGHER EDUCATION PROFESSIONALS

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025

2. Accounting policies (continued)

2.4 Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use.

Expenditure on charitable activities is incurred on directly undertaking the activities which further the Group's objectives, as well as any associated support costs.

All expenditure is inclusive of irrecoverable VAT.

2.5 Research and development

Development costs are capitalised within intangible assets where they can be identified with a specific product or project anticipated to produce future benefits, and are amortised on the straight line basis over the anticipated life of the benefits arising from the completed product or project.

Deferred research and development costs are reviewed annually, and where future benefits are deemed to have ceased or to be in doubt, the balance of any related research and development is written off to the Consolidated statement of financial activities.

2.6 Interest receivable

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the Group; this is normally upon notification of the interest paid or payable by the institution with whom the funds are deposited.

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ASSOCIATION OF HIGHER EDUCATION PROFESSIONALS

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025

2. Accounting policies (continued)

2.7 Intangible assets and amortisation

Intangible assets costing £2,500 or more are capitalised and recognised when future economic benefits are probable and the cost or value of the asset can be measured reliably.

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Amortisation is provided on intangible assets at rates calculated to write off the cost of each asset on a straight-line basis over its expected useful life.

Amortisation is provided on the following basis:

Software

2.8 Tangible fixed assets and depreciation

Tangible fixed assets costing £NIL or more are capitalised and recognised when future economic benefits are probable and the cost or value of the asset can be measured reliably.

Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be included in the measurement of cost.

Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

2.9 Investments

Fixed asset investments are a form of financial instrument and are initially recognised at their transaction cost and subsequently measured at fair value at the Balance sheet date, unless the value cannot be measured reliably in which case it is measured at cost less impairment. Investment gains and losses, whether realised or unrealised, are combined and presented as ‘Gains/(Losses) on investments’ in the Consolidated statement of financial activities.

Investments in subsidiaries are valued at cost less provision for impairment.

2.10 Debtors

Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

2.11 Cash at bank and in hand

Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

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ASSOCIATION OF HIGHER EDUCATION PROFESSIONALS

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025

2. Accounting policies (continued)

2.12 Liabilities and provisions

Liabilities are recognised when there is an obligation at the Balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.

Liabilities are recognised at the amount that the Charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.

Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised in the Consolidated statement of financial activities as a finance cost.

2.13 Deferred taxation

Full provision is made for deferred tax assets and liabilities arising from all timing differences between the recognition of gains and losses in the financial statements and recognition in the tax computation.

A net deferred tax asset is recognised only if it can be regarded as more likely than not that there will be suitable taxable surpluses from which the future reversal of the underlying timing differences can be deducted.

Deferred tax assets and liabilities are calculated at the tax rates expected to be effective at the time the timing differences are expected to reverse.

2.14 Financial instruments

The Group only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.

2.15 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 Group and which have not been designated for other purposes.

Investment income, gains and losses are allocated to the appropriate fund.

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ASSOCIATION OF HIGHER EDUCATION PROFESSIONALS

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025

3. Critical accounting estimates and areas of judgment

Estimates and judgments are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Critical accounting estimates and assumptions:

The Charity makes estimates and assumptions concerning the future. The resulting accounting estimates and assumptions will, by definition, seldom equal the related actual results. There are no material estimates and judgements to consider.

4. Income from charitable activities

Unrestricted
funds
2025
£
Membership
164,811
Conference, exhibitions and events
49,428
Postgraduate certificate programme
83,273
Services to other charities
75,605
Other
1,100
Professional development programme
219,926
594,143
Unrestricted
funds
2024
£
Membership
183,727
Conference, exhibitions and events
46,722
Postgraduate certificate programme
191,373
Services to other charities
66,345
Other
2,390
Professional development programme
110,873
601,430		 Total
funds
2025
£
164,811
49,428
83,273
75,605
1,100
219,926
594,143
Total
funds
2024
£
183,727
46,722
191,373
66,345
2,390
110,873
601,430

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ASSOCIATION OF HIGHER EDUCATION PROFESSIONALS

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025

5. Income from other trading activities

Income from non charitable trading activities

Unrestricted
funds
2025
£
Sales
162,977
Unrestricted
funds
2024
£
Sales
125,892
6.
Investment income
Unrestricted
funds
2025
£
Investment income
3,737
Unrestricted
funds
2024
£
Investment income
5,605		 Total
funds
2025
£
162,977
Total
funds
2024
£
125,892
Total
funds
2025
£
3,737
Total
funds
2024
£
5,605

Page 23

ASSOCIATION OF HIGHER EDUCATION PROFESSIONALS

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025

7. Analysis of expenditure on charitable activities

Summary by fund type

Unrestricted
funds
2025
£
Membership
337,181
Conference, exhibitions and events
149,405
Postgraduate certificate programme
86,693
Services to other charities
67,323
Professional development programme
193,733
Other
1,069
835,404
Unrestricted
funds
2024
£
Membership
315,871
Conference, exhibitions and events
165,687
Postgraduate certificate programme
257,778
Services to other charities
76,560
Professional development programme
126,866
Other
2,735
945,497		 Total
2025
£
337,181
149,405
86,693
67,323
193,733
1,069
835,404
Total
2024
£
315,871
165,687
257,778
76,560
126,866
2,735
945,497

Page 24

ASSOCIATION OF HIGHER EDUCATION PROFESSIONALS

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025

8. Analysis of expenditure by activities

Membership
Conference, exhibitions and events
Postgraduate certificate programme
Services to other charities
Professional development programme
Other
Membership
Conference, exhibitions and events
Postgraduate certificate programme
Services to other charities
Professional development programme
Other		 Activities
undertaken
directly
2025
£
191,998
105,864
13,338
722
-
-
311,922
Activities
undertaken
directly
2024
£
105,642
112,226
38,801
645
-
-
257,314		 Support
costs
2025
£
145,183
43,541
73,355
66,601
193,733
1,069
523,482
Support
costs
2024
£
210,229
53,461
218,977
75,915
126,866
2,735
688,183		 Total
funds
2025
£
337,181
149,405
86,693
67,323
193,733
1,069
835,404
Total
funds
2024
£
315,871
165,687
257,778
76,560
126,866
2,735
945,497

Page 25

ASSOCIATION OF HIGHER EDUCATION PROFESSIONALS

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025

9. Auditor's remuneration

2025 2024
£ £
Fees payable to the Charity's auditor for the audit of the Charity's annual
accounts 7,420 7,000
Fees payable to the Charity's auditor in respect of:
Accountancy services 3,000 2,900

10. Staff costs

Wages and salaries Group
2025
£
446,174
446,174		 Group
2024
£
480,612
480,612		 Charity
2025
£
207,995
207,995		 Charity
2024
£
272,458
272,458

No employee received remuneration amounting to more than £60,000 in either year.

All staff members within the National Office have employment contracts with the University of Manchester. Staff costs of £207,995 (2024: £272,458) were recharged to Association of Higher Education Professionals.

The key management personnel are defined on page 1 of the financial statements. Total remuneration of key management personnel for the year ended 31 July 2025 was £210,414 (2024: £148,383).

11. Trustees' remuneration and expenses

During the year, no Trustees received any remuneration or other benefits (2024 - £NIL) .

During the year ended 31 July 2025, no Trustee expenses have been incurred (2024 - £NIL) .

Page 26

ASSOCIATION OF HIGHER EDUCATION PROFESSIONALS

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025

12. Taxation

Corporation tax Taxation on net expenditure

The tax assessed for the year is lower than ( 2024 - lower than ) the standard rate of corporation tax in the UK of 25% ( 2024 - 25% ). The differences are explained below:

Net expenditure before tax
Net (expenditure)/income multiplied by the standard rate of corporation tax
in the UK of 25%(2024 - 25%).
Effects of:
Unrelieved tax losses carried forward
Total tax charge for the year		 2025
£
(195,742)
(48,936)
48,936
-		 2024
£
(219,387)
(54,847)
54,847
-

There are no factors considered likely to affect future tax charges.

Page 27

ASSOCIATION OF HIGHER EDUCATION PROFESSIONALS

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2025
13.
Intangible assets
Group
Cost
At 1 August 2024
At 31 July 2025
Amortisation
At 1 August 2024
Charge for the year
At 31 July 2025
Net book value
At 31 July 2025
At 31 July 2024		 Software
£
228,835
228,835
191,983
21,695
213,678
15,157
36,852

Page 28

ASSOCIATION OF HIGHER EDUCATION PROFESSIONALS

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025

13.
Intangible assets (continued)
Charity
Cost
At 1 August 2024
At 31 July 2025
Amortisation
At 1 August 2024
Charge for the year
At 31 July 2025
Net book value
At 31 July 2025
At 31 July 2024		 Software
£
41,831
41,831
37,536
4,295
41,831
-
4,295

Page 29

ASSOCIATION OF HIGHER EDUCATION PROFESSIONALS

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025

14.
Tangible fixed assets
Group
Cost or valuation
At 1 August 2024
At 31 July 2025
Depreciation
At 1 August 2024
Charge for the year
At 31 July 2025
Net book value
At 31 July 2025
At 31 July 2024		 Office
equipment
£
8,820
8,820
8,095
514
8,609
211
725

Page 30

ASSOCIATION OF HIGHER EDUCATION PROFESSIONALS

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2025
14.
Tangible fixed assets (continued)
Charity
Cost or valuation
At 1 August 2024
At 31 July 2025
Depreciation
At 1 August 2024
At 31 July 2025
Net book value
At 31 July 2025
At 31 July 2024		 Office
equipment
£
6,148
6,148
6,028
6,028
120
120

Page 31

ASSOCIATION OF HIGHER EDUCATION PROFESSIONALS

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025

15. Fixed asset investments

Investments in subsidiary companies Charity £ Cost or valuation At 1 August 2024 100 At 31 July 2025 100 Net book value At 31 July 2025 100 At 31 July 2024 100

Principal subsidiaries

The following was a subsidiary undertaking of the Charity:

Name Company Registered office Principal activity number AHEP Enterprises Limited 08814323 AHEP , The University of Activities of Manchester, Sackville Street professional Building, Sackville Street, membership Manchester, M60 1 QD organisations Class of Holding Included in shares consolidation Ordinary 100% Yes

The financial results of the subsidiary for the year were:

Name Income Expenditure Profit/(Loss) Net assets
£ £ for the year £
£
AHEP Enterprises Limited 752,157 883,274 (131,117) (602,190)

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ASSOCIATION OF HIGHER EDUCATION PROFESSIONALS

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025

16. Debtors

Trade debtors
Other debtors
Prepayments and accrued income		 Group
2025
£
210,204
5,576
19,681
235,461		 Group
2024
£
156,339
3,789
16,122
176,250		 Charity
2025
£
82,262
-
1,381
83,643		 Charity
2024
£
88,584
49
1,322
89,955

17. Creditors: Amounts falling due within one year

Trade creditors
Other taxation and social security
Other creditors
Accruals and deferred income
Deferred income at 1 August 2024
Resources deferred during the year
Amounts released from previous periods		 Group
2025
£
223,244
-
15,406
161,825
400,475
Group
2025
£
234,362
142,004
(234,362)
142,004		 Group
2024
£
91,453
15,972
83
268,339
375,847
Group
2024
£
172,949
234,362
(172,949)
234,362		 Charity
2025
£
61,313
-
14,326
97,785
173,424
Charity
2025
£
165,264
78,921
(165,264)
78,921		 Charity
2024
£
14,723
-
-
198,044
212,767
Charity
2024
£
172,949
165,264
(172,949)
165,264

Deferred income consists of courses paid for in advance by delegates and membership subscriptions which continue into the next financial year.

Page 33

ASSOCIATION OF HIGHER EDUCATION PROFESSIONALS

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025

18. Statement of funds

Statement of funds - current year
Balance at 1 Balance at
August 2024 Income Expenditure 31 July 2025
£ £ £ £
Unrestricted funds
General Funds - all funds 157,977 760,857 (956,599) (37,765)

Page 34

ASSOCIATION OF HIGHER EDUCATION PROFESSIONALS

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025

18. Statement of funds (continued)
Statement of funds - prior year
Balance at
1 August Balance at
2023 Income Expenditure 31 July 2024
£ £ £ £
Unrestricted funds
General Funds - all funds 377,364 732,927 (952,314) 157,977

Page 35

ASSOCIATION OF HIGHER EDUCATION PROFESSIONALS

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025

19. Analysis of net assets between funds

Analysis of net assets between funds - current year

Unrestricted
funds
2025
£
Tangible fixed assets
211
Intangible fixed assets
15,157
Current assets
347,342
Creditors due within one year
(400,475)
Total
(37,765)		 Total
funds
2025
£
211
15,157
347,342
(400,475)
(37,765)

Analysis of net assets between funds - prior year

Tangible fixed assets
Intangible fixed assets
Current assets
Creditors due within one year
Total		 Unrestricted
funds
2024
£
749
36,852
496,223
(375,847)
157,977		 Total
funds
2024
£
749
36,852
496,223
(375,847)
157,977

Page 36

ASSOCIATION OF HIGHER EDUCATION PROFESSIONALS

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025

20. Reconciliation of net movement in funds to net cash flow from operating activities

Net expenditure for the year (as per Statement of Financial Activities)
Adjustments for:
Depreciation charges
Amortisation charges
Dividends, interests and rents from investments
Increase in debtors
Increase in creditors
Net cash used in operating activities
21.
Analysis of cash and cash equivalents
Cash in hand
Total cash and cash equivalents
22.
Analysis of changes in net debt
At 1 August
2024
£
Cash at bank and in hand
319,973
319,973		 Group
2025
£
(195,742)
538
21,695
(3,737)
(59,211)
24,628
(211,829)
Group
2025
£
111,881
111,881
Cash flows
£
(208,092)
(208,092)		 Group
2024
£
(219,387)
819
18,270
(5,605)
(15,760)
36,958
(184,705)
Group
2024
£
319,973
319,973
At 31 July
2025
£
111,881
111,881

Page 37

ASSOCIATION OF HIGHER EDUCATION PROFESSIONALS

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025

23. Operating lease commitments

At 31 July 2025 the Group and the Charity had commitments to make future minimum lease payments under non-cancellable operating leases as follows:

Not later than 1 year
Later than 1 year and not later than 5 years		 Group
2025
£
21,400
21,400
42,800		 Group
2024
£
21,400
42,800
64,200		 Charity
2025
£
21,400
21,400
42,800		 Charity
2024
£
21,400
42,800
64,200

24. Related party transactions

The charity has taken advantage of the exemption available under section 33 of FRS 102 to not disclose transactions with wholly owned subsidiaries.

There are no other related party transactions.

Page 38