Charity ReKiStration No. 1189547
BATH SPA UNIVERSlTh mioENTS' UNION
AIINUAL RÉPORT AND FINANOAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024
BUSINESS
ADVISORS
First Floor, Premier House
127 Duckmoor Road
Ashton Gate
8ristol
United Kingdorn
BS3 2BJ

BATH SPA UNIVERSITY STUDENTS. UNION
CONTENTS
Company information
Trustees. Report
2-12
Statement of Trustees, responsibilities
13
Independent auditor's report
14-17
Statement of financial a£tTvitie5
18-19
Balance sheet
20
Statement of cash flow5
21
Notes to the fi'nanclal 5ts1ements
22-37

BATH SPA UNIVERsifY STUDENTS. UNION
COMPANY INFORMATION
Tru$tee5
Russell Thomas
Christopher Ellicott
Jasmine Raymond-Barker
Robert Blake-Burke
Amber Daw
Elise Booth
Joshua Mannino
Ming HLri Ng
Aiian Feltham
Poppy Laycock
Salmar Ammar
Alexander Reeve
Appointed I july 2D241
(Appointed l July 20241
(Appointed I Ivly 2Q241
(Appointed l July 20241
Charlty number
1189547
Audltor
TC Group
First Floor. Premier House
127 Duckmoor Road
Ashion Gate
Brisiol
United Kin8dom
8S3 2BJ

BATH SPA UNIVERSITY STUDENTS, UNION
TRUSTEES, REPORT
FOR THE YEAR ENDED 31 JULY2024
The Trustees present their report with ihe fi.nancial ststement5 of the charity for the year ended 31 July 2024.
The Trusteès have adopted the provisions ol Accountin8 and Reporring by Charities.. Siatement of Recommended
Pracbce applicable to charits'es prepartng their accounts in accordance with the Financial Reporring Standard
appliczble In the UK and Republic of Ireland IFRS 1021.
Publlc Benefit ststemtnt
The primary purpose of Bath Spa Univer51ty Students, Union is the advancement of education of students èt Bath
Spa University for the public benefi.t by..
promoting the interests and welfare of studen15 at Bath Spa Univer51ty during thelr Course of stu* and
representing. supporting and advising students..
being the recognised iepresentatsve channel between Students and Bath Spa University and any other
external bodies,.
providing social. cijltural. sporting and recrèafjonal activitie5 and forums for disCU5sion and debate for the
personal development of it5 Students.
The Trustees have paid due regard to guidance issued by the Charity Commission in decidin8 what acts'vities th*
Charity should undertake.
Obje¢tl¥u Ond Aetivltle¥
Our strategic plan 2023-26 was approved by thè Trustees in March 2023. following extensive research. In 2022 we
had introduced a survey Ithe BIG SU sufyeyl, which sought to complement oiher areès of regearch Isuch as the
Narional Students, Survey and existlng university feedback) and delve into key issues affÈetin8 the experiencè of
students and how these potentially Impacted upon their abilrty to achieve iheir potential at Bath Spa. This work
gulded the development ol our new priorities, ensuring we are focussed on supporrin8 current students and those
about to enter higher education.
The strategy also took into account the strate8ic direcnon of the Llnlver5i¢y. and its work to de¥tlop new
partnerships and facilities. Without doubt. with more iesources we could always do more. but our new strategy
ensurcs we priorinsè our work to Create the chan8e5 needed to support siudents to makc the rnost ofiheir time
at Bath Spa, now and in the years ahead.
It is bold in its ambitions, looks io learn from others and embrace the innovative solution5 to ttre challenges we
lace. Underpinning our Strategic Plan are a con5iSteni set of commitments and values. supported by a number of
external accreditarion standards. These support our commitment to financial Stability. sustainability and equality,
diverslty and inclusion.
In Spring 2024 we re-ran the BIG SU survey. enablin8 US to track changes to the experience of studenis and ensure
our priarit.es remained relevant. and our approaches developed in response to the feedback received. We intend
to run the BIG SU Survey annually, adapting lines of enquiry in response to any emerging trends or feedback, and
helping us understand the impact of inierventions and project5 we develop.

BATH SPA UNIVERSITY sfuoENTS' UNION
TRUSTEES, REPORT ICONTINUEDI
FOR THE YEAR ENDE031 JULY2024
Our research has shown that..
83% students did not feel they have 3 comfortable amount of money to live on, with 29% reporting they
were struggling fi"n3ncially and 42% had just enolrgh to get by. Our re5eèrch shows that students contnue
to cut back on social activities and food to make ends meet.
75% students reported that they worry aboui money. and our research shows that worries about money
are the biggest negative impact on students. mental health.
47% respondents have considered dropping out. with poor mental health and a lack rjf money being cited
3S the most common reasons for students considering dropping out of educètyon.
Cutting back on social activines because of financial pressures is impactrng on students, ability to
socialise, and 49% students report that they feel lonely on a regular lat least weekly) basis. This is
consistent with the 2022 survey results. but the 2024 survey showed an Increase in the number ol
student5 142%) experiencin8 occasivnal loneliness. Respondent5 who experienced Ictneliness everydav
were twice as likely to have considèred dropping out of university.
56% students are reliant on part time work during rerTn time, with 41￿ working èquivalent of I day per
week and 16% working more than 17 hours per week. Our research shows ihtsse who work longer hour¢.
en8a8e less with their course, have reduced leve15 of happine55, and are most likely to have considered
droppin8 Out ol univers¢ty.
This data informs our strate6ic pfKJritfes and we continue to share our findin8s, advocattn8 for l*tter support for
student5.
strategic Plan Priorltles 202>26
Our themes
Our vision
How wlll wè achieve thlsP
Bulldlni commun5ty and
sense of belonglng
EVERY STUDENT will feel part of
community
of learners
and
confident to succèèd
Introduce a range of school
base forums
Support ALL students to
make friends and discover
networks
Remove the barriers to
participation
Create new, welcoming on
campus lacilitses
Invest In communications,
research and insight
Run an annual calendar of
campai8ns
Review our Advice Servlce
Removlng the barrlefs
to participation
EVERY STUDENT will be able to
take part In the ac￿vitieS and
opportunitSes they want io. and
no.orFe should feel cost is a barrier
Svpp¢rDn8 students
to thrive
EVERY STUOENT should be able to
hnd the support they need, when
Ihey want it and be empOWe￿d to
make change
Our core ¥alues
We know that for our member5. it is not just about what we do, but how we do it. We are prDu¢J of our values
that underpin thi5 commitmenl..
Students are at the heart of everything we do.
We value diversity, actively listen to and 5UPPOrt under-represented groups.
We are creative. fun and responsive to the changing needs of students.
We take pride in deliverin8 high quality service5. Opportunities and value for money.
Trust. sustainability and democralic accouw)tability are at the heart of how we work.

8ATH SPA UNIVERsifY STUDETrtrs' UNION
TRUSTEES, REPORT ICOPfflNUEDI
FOR THE YEAR ENDED 31 JULY2024
Achievements and Performance
5trate8ic priority Achlevements 2023-24
BuildinB
tommunity and a
sense of belonglnK
We piloted a new reprcsentation model across two schools (Business &
Management and Music & Performing Artsl. working closely wilh students and
academic staff to review and refine the model. This will now we rolled out across
all 8ath-based undergraduate course5 from Septembei 2024.
Interest In this work has conrinued and team member5 presented our research and
work at the national Membership Setvices Conference in July 2024.
We recorded increased satr'slacrion with how well the Students, Vnion repre5ent5
Students. academic interests, with satisfaction expressed ihrou6h the National
Student5 Survey INSSI rising from 67.8% in 2023 to 72.3% in 2024. (which is above
the national benchmark).
The NSS survey5 final year student5, and the resptsnse is similar to the 76%
Sa￿StaC￿0n eypressed in BIG SU survey 2024. which covers all students, In which
76% students rèsponded posirively 10 this question.
Addity'onal grant funding from the University has ènabled us to a¢Jdress the
finantial barriers to wider parncipatron. by supporting free membership of clubs
and societie5 from 2023-24. Thi5 has inC￿aSed memberships from 1940 in 2022-23
to 3542 in 2023-24.
We have also introduced a'Partitipatr'on Fund. specifically to support students with
everyday costs of parncipanon, such as clothing, footwear and match lees etc. In
22-23 we supported 6 students Itotal support.. £5711 and in 23.24 we supported 17
students Itotal support £18331.
Addihonal 8rant funding 31sts enabled us to make all Union-led events free during
the Welcome period in September 2023, and the Welcome Back period in January/
February 2024, further SUPPOrrin8 Students to meet people and Create peer
netWC*rk5 to further iacklè lèvels of lonelines5, and addressing financial pressures
fated by students.
Our Democracy & Scrutiny Committee led work to develop an Accessibility Policy.
improving arrangements and information on a¢ces$ 5UPPOrt for every event run in
or by the Union.
We also began work to support the University to develop an Access & Participation
Plan. followin8 the 8uidelines established by the Office for Students.
We ran the BIG SU survey in April 2024. 5harin8 our research fi.ndings with
tglleagues acr055 the University. This work led to a range of measures to mitr"8ate
against the hnancial pressures faced by students including introductton of
5ubsidised food options across university campuses. lixed laundry pricing, help with
additr'onal course costs and hardship funding.
We reintreduced our Éxercise Referral scheme. which sees a referral pathway to
free gym memberships from Student wellbein8 Services and GP services for
studenis who could benelit from increased physical activity.
During the year we ran several èwareness-raising campaigns covering topics as
wide as environmental sustainability, sexual health, educational rights. sexual
harassment IError in formula ->#NeverOK<-I, tenants, rights, voter registratfon,
Black History Month. LGBTQ+ History Month. We began working with the
University on three key projects.. Achieving the University Mental Health charter,.
RE..SET lending sexual harassment and domegtic violence) and Dru85 and Alcohol
support.
Rernovins th•
barriers
to partlclpation
Supporfjn
students
to thrlve

BATH SPA UNIVERsrtY 5fiJDENTS' UNION
TRU5TEES' REPORT ICONTINUEDI
FOR THE YEAR ENDED 31 IULY2024
5trate8ic Enabler5
Green Impact- Gold Award
Memorandum tsf Understanding agreed with the University
leaders in Diversity accieditation retained
Retained our listr'ng In National Centre for Diversity list of Top 100 workplaces in UK
015bbility confident- commilted level achieved
Revised our Commercial strategy. closing our retail outlet and supporting the
University to develop a new, more centrally located shop at the Newton Park
campus.
Financlal review
The Union has two main sources of income..
Charitable and Tradin8 activitr'es.. In 2023- 24 its total In¢ome from its charitable and trading actlvlttès wa5
£756.976
Grant funding. gift aid and donation5. accounted for Grant funding. glft aid and donations. accounted for
£1,327.435 Income. This is largely made up Irom an annual block grant from the University, which in
2023-24 was £1.032,0￿.
Our charitable services, which include academic ￿PreSenta￿.9rt, advice, actt'vities and skills devdopment, are an
essentral part ol the wider student experience_ Historically the cost of providing these has been greater than the
level of block grant received and as such the Union has been reliant on the ability tsf its charitable tradin8
aetr"vines to both provide service5 for students and svpport thè work of other areas of actr'vity.
However, as our tradin8 activities are reliant on the finan¢ial wellbeing ol students, they have beÈn èffected by
the impact ol Inflationary pressures and cost ol livin8 crisis on students, who have reduced their spending on
food and social activities. In turn this has impacted upon the surpluses we can generate from our tradin8
3Ctrvities, and we have bcen reliant on additional lunding from the University io brid8e this gap.
The development of the Memorandum ol Understanding in 2023 included the formalisation of the methodology
to determine the block grant, replacing the interim afrangements that had bÉ*en in place to support these
h"nèncial challenges whilst we undertook research and developed our new Stiategi¢ Plan,
From 2023-24, any surpluses from trading activities will be used to maintain Union's reserve5 to their target
level, and provide a development fund to designate to projects whi£h aim to impFove the Student experience.
Over recent years the pandemic and cost of livrng crisis had a signih.cant impact on the Union's ￿serVeS.
In 2023-24 we undertook financial assessment of our reserves requirements and revised our Reserves Policy, in
line with the expectations of the new Memorandum of Understanding. The Board approved that the target level
for unrestricted reserves should be equal to 45 days of liquidity plus any employer liabilities. Following this work,
the University gave us a on&off grant to restore our un￿strICted reserves. This meant that at 31st july 2024, OUT
unrestricted reserve5 amounted to £340,841 excluding capital reserves.
As a values led or8anisation the Union very carefully considers where reserves are held to en5ure.'
Monies invesied do not compromise the ethical commitfflent of the Union
The reserves receive 3 comparable interesl rate for the type of investment
Ri5k5 to the Union ol financial loss are minim15ed

BATH SPA UNIVER5rrv STUDENTS. UNION
TRUSTEES, REPORT ICONTINUEDI
FOR THE YEAR EhlDED 31 JULY2024
'liatson5
In 2023-24 Bath Spa Untversity Student5, Union was affiliated to the following organisatr.ons (the affiliation fee
paid is listed for Èachl..
Natlonal Union of Students INUSI- £12.050
8ritish Universitie5 & Colleges Sports IBUCSI- £3.355
Federatr"on of Bath Residents A550ciation IFOBPAI- £50
Advice UK - £569
n Truste
Bath Spa University students, Union does not act as a custodian trustee on behatf of others.
it does hold some des18nated funds which represent the charity's administration of income and exp￿diture
relating to ils club5 and societies. In 2023 - 24. our clubs and society.es had a balance of £66,215 remaining at year
end.
Fundraisin
The Union has two main areas of fundraising activity..
Fundraising to support the activittes of the Union. Ihrou8h lundraisinB events and schemes such as Give
as you Live,.
Fundraisin¥ by students io support student led activities or to fundraise on behalf of another tharlty.
The Union considers all fundr?isin8 as a useful skill lor students to acquire, and partitularly as students develop
thelr own personal interests and activities as socially engaged titr'zens. The Unron does not use any professional
fundraising or comrnercial organisanons to support thesè activities.
The Union provides guidance and training to students looking to participate in fundraisinÉ a¢tivitEs which seek to
.follow the Fundraising Code ol Practice. This makes It clear that all fundrèisin8 is under the umbrella of the
Srudents, Union. even when it may be for a 5pecifi.ed purpose, club or society.
The Union a150 ha5 a Sponsorship policy within its By-laws that ensures any sponsorship of clubs and societies fit
into the deh.ned aims and values ol the clvblsotjety and thai there 15 clear monitorin8 9f any sponsorship received
n support of specifi.c purposes.
We have a number of internal procedures to ensure that the standards expected are closely monitord, with all
fundraising projects and ideas myst be submitted for approval prior to an event. Any online fundra15ing for the
Students, Union or for other charitres come through the Everyclick pa8e where a subpage can be set w for their
ch05en fundraising cause. Fundraising for other charities 15 1088ed through the linance team to cross-reference.
All monies collected are held by the Union in line with our financial procedures, with donations to other charities
mède at the end of the academic year unles5 there is è prior a8reemenr for such. Our proccdures ern￿re that the
purposes of any fundraisin6 are clearly articulated.
There Is a cleèrly defined complaints procedu￿. awdilable via the Union's website. No complaints were made
which related to fundraising in 2023-24.
The impclrtance of ensuring ihe protection of vulnerable people 15 a key element of our training. Most of the
fundraising happens on campus or online. but we pay particular attention io ensuring any events happening off
campus understand the importance of ensurin8 good prèttice standards arè adhered to.

BATH SPA UNIVERSITY STUDENTS, UNION
TRUSTEES, REPORT ICONTINUEDI
FOR TIIE YEAR ENDED31 JULY2024
Future Plans
The Llr710n's main base is at the University's Newton Park campu5. The appropriateTress and future needs of the
Union building are under review a5 Part of the longer-term University estates planning.
Slmilarly, improving visibility of the Union at other campus loc*ions is In discussion as part of the future plans lor
those sites.
Whilst discu555ons over facility devÈlopments a￿ ongoing, the trustees have agreed ihat should ary future plans
include relocation or refurbishment of future facilities, the Union will r&evaluate the value ol its fixed assets at
that point. This may include the write-off of a55ets related to previous capital expenditure on its current leased
facilities. which would be irrecoverable if the Vnion relocated. The Trustees have agreed that any such adjustment
would be made a single year if requifed.
Stnjtlure, govern•nce and management
Bath Spa University Students. Ljnion is a charitsble incorporated organisation and 15 8overned by the Union's
Consrituh"on, which wa5 approved in May 2020. prior to its incorporatron on 1st Au6ilSt 2020.
The Charity replaced the previou5 unincorporated association111390371 which ceased tradin8 on 31st July 2020,
transferrin8 all its assets and liabilib'es to the new Chailtable Incorporated Organisats'on111895471 on 1st August
2020.
The con5trtutr.on governs what ihe Union can do and how it will be administered by the 8oard of TrLStees on
behalf of the membeiship.
The Board of Trustees oversees ihe 5trate8lt, financial and le8al affairs of the Union. It is chaired by thè Unic>n
President and 15 comprised of ¢Jp to twelve trustees who bring a mix of prolessional and experlentt.al expertise to
the Board.
In 2020 we concluded a review usin8 the Charity Code ol Governance. Implementation of the recommetsSation5
from the review were ovèrseen by the Audit & Risk Committee. The principles and practices of these existing
goveinance arrangements weie adopted by the new Charitable Incorporared Organis3tion when we incorporated.
In 2022-23 we undertook an audit of our Eovernance arraneèrnènts Using the National Union ol Students Quality
Students Uniorb framework. This included an assessmeni ol our 8overnan¢e arrangements, which is based on the
charity Code ol governante. Our arrangements were veriti'ed as'very 800d'.
The Union's Constttution is complemenled by a Set of 8y-laws. which are reviewed on a regulèr basis to support
our commitment to Rood governance.
All Sabbatical Officer Trustees are eleaed by secret ballot to serve for a term of one year and may be re-elerted to
the p05t for a maximum further term of one year.
Candidates for the positton5 of External Trustees are selected by the Appointments Comrnittee and their
ppointment recommended to the Democracy & Scrutiny Committee who must approve all such appointment&
External Trustees remain in office for a term of up to four years and Can serye a rnaximum of two term5 which may
either be consecuttve or non-con5ecutive.
The Union undertakes a ski115 audit to inform the appointment of External Trustees when vacancies arise and will
contsnue to do so as required to ensure the Board iontain5 a diversity of skills and experience to support its
continued effectr"vene55.

BATH SPA UNIVERSITY sllJDENTS' UNION
TRUSTEES, REPORT ICONTINUEDI
FOR THE YEAR ENDED 31 JUIY2024
The Union rn3y also appoint up 10 two Alumni Trustees. The total number of Alijmni and External Trustee5 must
not exceed four persons. The Board can a150 appoint observers to further 5trenEthen the skills and knowledge of
the Board.
Applications for the posts of Student Trustees are also decided upon by the Democracy and Scrutiny Committee
and post holders remain in office for up to one year and can serve a second consecutive year.
The role of the Democracy and Scrutfny Committee ensures that members of the Union are ultimately responsible
for the appointment of all trustees, in line wrth our democratic principles. It also ensure5 that Union consider5
the balance of skills. diversity and experience across the Board on an annual basis.
Recruitment t7nd oppointment of trustees
The 8oard has three Committees to deal with specific areas of business. These a￿..
The Appointments Committee 15 responsible for the recruilment. training and development of the Board
of Trustees and all rnatters relatin8 to the terms and condition5 01 service and the emoluments of tF
Senior Post Holderlsl appointed by the Board of Tru51ees. and the Sabbatical officers,.
The Audit & Risk Comrnittee is responsible lor ensuring that there is a framework for internal controls and
accountability.. lor examining and reviewjng all systems and method5 of control both fi'nanclal and
otherwise including risk management. and for ensurin8 the organisation is complying with all aspects of
the law, relevant reg¢Jlations and EOC*d practice.
The Finance & Rèsources Committee is responsible lor all policies. planning, scruhni5in8 and reporting
Involving the financial and human resources.
All trustees receive trustee indutfjon session èach year. where trustees are briefed on their legal obli8atr'ons, the
responsibilities of being a tiustee and an undersiènding of anticipated key challen8es in thè year ahead. All
trvstees si8n a (JeclaraD'on upon appointment, which includes their confirmation of understanding of our Trustees.
Code of Conduct and the Nolan principles ol siandards In public life.
Sabbatical officÈr5 and student trustees arÈ provided with additional support from both staff mem￿r5 and
outgoing officers to ensurè a smooth transition period and to 5UPPOrt the new trustees to understand and
undertake their responsibilities. They also have on-going staff support to guide them through Board and
comminee papers and to advise on areas such as conflicts of Interest.
Periodically the Board undertakes a '8oard Effectiveness Review.. working Wlth an extemal consultsnt to consider
hgw well it 15 working and any improvements that can be made to the induction process, operations c*r support
available to ensure the Board funchons effectsvely

BATH SPA UNIVERSrrY STUDENTS. UNION
TRUSTEES. RÉPORT (CO￿rINuED)
FOR THE YEAR EJVDED 31 JULY2024
Democrac
& Scrutr'n
Committee
The Oemocracy & Scrutiny CommittÈe represents the voice of the students. The Union is a democratic
organisation. led by student5 for the benefit of students. All students are members tsf the Union and are able to
bring any i55ues for consideration by the Committee who in turn can make any recommendations or raise any
issues with the approprrate committee or directly to the 8oard of Trustees.
The Cornmittee comprise5 representaD"ves and member5 of the Union, appointed according to the Union's By-
law5.
Democracy and Scrutiny Cornmittee is responsible for the oversight and developrnent of..
the policy and by-laws ol the Union. jointly with the Board of Trustees
ensurin8 that the Union has equality, diversity and inclusion ai the heart Df its stratègy and
operarions
• ensurin8 the Union operaies ethically
ensuring the Union and its offi.cers are accountable to students
• ensuring an cqualiiy of representation for all students
ated Res onsibilits'es
Dele
The Board of Trustees delegates day-to-day mana8ement of the or8anisation to the Chlef Executr've. Sarah Dawes,
who is responsible for..
• irnplementrn8 the policies and strategies of the organisation
ensurin8 that the Union operates within bud8ets approved by the Trustees
advisin6 the Trustees in relation to policy, strategic plannin8, performance and flnance
The Chief Executlve is further supportèd by the Senior Leadership Team comprisin8 the President, the Union's
Senior Management Team and a representative from the UnNersity nominated by the Vic&Chancellor. The Senior
Leadership ream Is responsible for overseeing the day to day running of the Union.

BATH SPA UNIVERSITY STUDENTS. UNION
TRUSTEES, REPORT ICONTINUEDI
FOR THE YEAR ENDED 31 JULY2024
Relationshi
with 83th S a Universi
The Union has always had a good relationship with the University which is maintained through regular meeknnBS
between the Vice-Ch3ncellDr's Office, Senior Managers Iiom the Union and University and the Sabbatical Officers.
The President Is a member of the University's Board of Governors and AcadÈmit Appeals Committee.
Senior Union staff and Sabbatical Officers artend key University decision rnaking forL*m5. including the Student
Feedback Management Group. Equality & Diversiiy Steering Group, Health & Safety and 8usiness Contintjity
Management groups and the Access & Parhcipation Steering Group.
Representats'ves from the Vice-chancellor's offi.ce attend the Senior Leadership tearn, act as Deputy Returning
officer for Union elections and also as the University Board of Governors, independent arbiter for the Union'5
Complaints Procedure.
Alongside the Constt"tutt"on, the Union also opèratès within the Students, Union's Code of Practice. This is
approved and reviewed by the Union's Board ol Trustees and Bath Spa Universlty board of Governors and issued
in accordance with ihe Education Act 1994, Section 22. Thi5 document outlines the relationship with and
oversight of the Union, in particular relatlng to the Union's constitutr'on, membership, electr'ons, afliliarions, paid
offi'cers. finances, complaints processes and nonftcation requtrements. It was last reviewed In July 2023.
The Code of Practice is lurthèr supported bv..
a Relationship A8reement which describes how the two grganlsatr'ons WO￿ tO8ether in a mutually
supportive environment lor the benefi't of students. The Relationship A8reÈment was jointly approved bv
the University's 803rd ol Governo¥s and thè Union's Board of Trusiees.
• a Memorandum of Understandin& which details the pracfjces and procedur•s that underpin the
Rela￿OnShip Agreement. This was jointly approved by the University 803rd of Governors and the Union's
Board of Trustees in July 2023.
The Board of Trustees ha5 overall responsibility for ensuring the major strategic, operational and buslness risks
facing the organisatton are identilied and conirols are in place. The Audit and R15k Committee advi*s the Board of
Trustees on the adequacy and effectr'veness of the or8anisation's internal controls and policy frarnework.
The Union has a range of policies and procedures to ensure the Health and Safety of staff. volunteers. participant5
and ViSiiOfS. ThesÈ are periodically veviewed to ensure they remain fit for purpose and perforrnance Is monltored
by the Audit & Risk Committee.
The Board of Trustees has an approved Risk Policy in place. It reviews its associated Risk Register and Corporate
Risk Management Action Plan annually. with any new or emerging risks being added to the register as they are
identrlied. Progress in achievin8 the athons identifi'ed in the Corporate Risk Management Action Plan are reviewed
at each meeting of the Board of Trustees.
10-

BATH SPA UNIVERsifY STUDEpifs' UNION
TRUSTEES, REPORT ICONTINUEDI
FOR THE YEAR EPIDED 31 JULY2024
Administrati￿ Infomiation:
Re815tered tharity name- Bath Spa University Students, Union
ReKSstratlon number- 1184597
Princlpal Address..
Bath Spa Univer51ty Students. Union
Newton Park Carnpus
Newton St. Loe
Bath
298N
The Board of Trustees
The directors of Bath Spè Univer51ty Students, Union are tts Trustee5 lor the purposes of Charity law and
throughoui this report are collectt'vely referred to the Trustees. The Trustees 2023- 24 were..
Sabbatical Offic
T stee5
President Ichalrl
jasmine R3ymond-Barker lori8inally appointed a5 a Student trustee on 1st July 2022. before being elected as
President from 1st July 20231
Vite Presldenls
Elise Booth IAppointed 1st July 20231
Neetu Karwal (Appointed 1st July 2022, resigned 30th June 20241
Laura Bold IAppointed 1st July 2022, resigned 301h J¢Jne 20241
Arran Feltham (Appointed 1st July 20241
Poppy Laycock (Appointed 1st July 20241
Christopher Ellicott (Appointed 29th May 20191
Ru$5ell Thomas (Appointed 10th November 20201
Rgbert 81ake-Burke IAppointed 1st July 20221
Min8 Hui Ng (Appointed 1st April 20231
Studeni Truste
Joshu3 Mannino IAppointed 1st July 20231
Amber Daw (Appointed 1st July 20231
Seb Dee (Appointed 1st july 2023. resigned 30th June 20241
Antonia Dumitru IAppotnted 1st July 2023. resigned 30th lune 20241
Alèxander Reeve (Appointed 1st July 20241
S31ma Arnmar (Appointed 1st 20241

BATH SPA UNIVERSITY STUDEvfs' UNION
TRUSTEES, REPORT ICONTINUEDI
FOR THE YEAR ENDED 31 JULY2024
Advisors
Avdliors
Bankers
TC Group
Santander Corporate Banking
Bridle Road
First Floor
Premier House
8ootle
127 Duckmoor Road
Mefseyside
Ashton Gate
L30 4GB
8S3 281
The Trusteès, report was approved by the Board of Trustees.
Jasmine Raymond-Barker
Trust•e
9 January 2025
12-

BATH SPA UNIVER5rrY ￿UDENTS. UNION
ATEMENT OF TRUSTEES. RESPON518ILITIES
FOR THE YEAR ENDED 31 JULY2024
The Trustees are responsible for preparing the Trustees. Report and the financial Statements in accordance with
applicable law and United Kingdom Accountr'ng Standard5 Iunited Kingdtsm Generally Accepted Accounting
Practicel.
The law applicable to charities in England and Wales requires the Trustees to prepare fin3ncial statements for each
fi'nancial year which give a true and fair view of the stèle of affairs of the Charity and ol the incoming resources
and application of resources of the Charity for thai year.
In preparing these financial statements. the Trustees are required to..
select suitable accounting pollcles and then apply ihem consistently..
- observe the method5 and principles in the Charities SORP..
- make judgements and estr'mates that are reasonable and prudent.
state whether applicable a¢countin8 Standards have been followed, Subject to any matertal departLtres disclosed
and explalned in the linancial statements,. and
prepare the fi.nancial statements on the goin8 toncein basis unless il is inappropriate to prèsurne that the Charity
will continue in operation.
The Trustees are responsible lor keepine s¢Jfficient accounting record5 that disclose with reasonable accuracy at
any time the frnancial posI￿oN of the Charity and enable them to ensure that the fi"nantial statements comply with
the Charille5 Act 2011. the Charity (Accounts and Reports) Rè8ulation$ 2008 and the provisions ol the trust deed.
They are also responsible for safeguarding the assets ol the Charity and hence for taking reasonable step5 lor the
PreVen￿On and dètection of fraud and other Irregularithes.
13-

BATH SPA UNIVERSITY STUDE￿r5, UNION
INDEPEIIDENT AUDITOR'S REPORT
TO THE TRUSTEES OF BATH SPA UNIVERSITY STUDENTS, UNION
Oplnlon
We have audited the financial statements of Bath Spa University Students. Union (the 'Charity'l f(r the year
ended 31 July 2024 which comprise ihe statement of financial activities. the balance sheet. the statement ol cash
flows and the notes to the financial statements, including a sumrnary of signifi.cant accounting policies. The
linancial reporring frarnework that has been applied in their preparation is applicable law and United Kingdom
Accounting Standards,.includin8 Financial Reporttng Standard 102 The Finonciol Reporting StonLlord opplictible in
the LIK t7ndRepublic of Irelond (Uniled Kingdom Generally Actepted Accounting Practicel.
In our opinion, the fi.nancial statements..
give a true and fair view ol the state of the charity's affairs as at 31 JU￿ 2024 and of Its incimin8 resources
and application of resources, for the year then ended.,
have been properly prepared In accordance with United Kingdom Generally Accepted A¢¢ounfjng practi￿.,
and
have been prepared in accordance with the rnquirements of the Charits'es Art 2011.
Basls for opinion
We tonducted our audit in accordan¢e with Internab'onal Standards on Audit(n£ IUKI IISAS IUKII and applicable
law. Oijr responsibilith'es under those standards are lurther described in the Auditof s responsibilities for rhe oudit
of rhe ft"noncig1 statements sectron ol our report. We are independent of the Charity In arcordance with the
ethical requirements that are relevanl to our audit of the financial statements in the UK, including the FRC'S
Ethical Standard, and we have fulfilled our oiher ethical respgn5ibility.es in accordance with these reguirements.
We believe that the audit evidence we have obtained 15 suffi'cient and appropriate to provide a basis lor our
opinion.
Concluslons reladn8 to 8olng concern
We have nothing tg report in respect of the followin8 matters in relation to whlch the ISAS IUKI rquire us to
report to you where..
the Trustees, use of the going concern ba515 Qf accountin8 in the preparation of thè financial statements 15
not appropriate,. or
the Trustees have not disclosed In the financial statements any identifi.ed material uncertainties that may
cast SI8niftcant doubt about the Charity's ability to conn.nue to adopt the going concern basis of ￿coUnting
for a period of at least twelve months from the date when the fi'nancial statements are authorised for issue.
Other Inforrnallon
The othei informat5on comprises the infomiation included in the annua1 report other than the financial
statement5 and our auditor's ieport thereon. The Trustees are responsible for the other information contained
within the annual report. Ovr opinion on Ihe linancial statements doe5 not cover the other ir+format•)n ènd we
do not expre55 any lorrn of assvrance conclusion thereon. Our responsibility Ts to re3d the other inbrmation and,
in doing so, consider whether the other information is materially inconsistent with the fi.nancial s12tements or our
knowledge obtained in the course of the audit. or oiherwise appears to be materially misstated. If we identify
such material incorisistencies or apparent material mi55tatements, we are required to determine whether this
gives rise to a material misstaternent in the financial statemenis them5elve5. If. based on the work we have
performed, we conclude that there is a material misstatement of thi5 Other information, we are requI￿d to report
that fact.
We have nothing to report in Ihis regèrd.
14.

BATH SPA UNIVERSITY STUDENTS. UNION
INDEPENDENT AUDITOR'S REPORT ICONTINUEDI
TO THE TRUSTEES OF BATH SPA UNIVERsifY STUDENTS. UNION
Matters on whith we are required to report by exception
We have nothing to feport in respect of the following matters in relarion to which the Charities (Accounts and
Reports) Regulation5 2008 require us to report to you if. in our opinion=
the information given in the financial statements is inconsistent in any material respect with the Tru5tees'
report.. or
5vfficient accounting ￿CordS have noi been kept- or
the linancial statement5 are nol in agreemenl with the accounring records,. or
we have not received all the information and explanats.ons we reouire for our audit.
Responsibilitie5 of Tntstees
As explained more fully in the stotement of Trustees. responsibilities, the Trustees are respongible lor the
preparanon ol the financial statements and for being satisfi.ed ihat they give a true and fair view, and for such
internal control as the Trustees determine 15 necessary to enable the preparation of financial statement5 that are
free from material misstaienient. whether due to fraud or error. In prepanng the fi'nancial statements, the
Trustee5 are responsible for assèssing the Charity's ability to continue as a 80in8 concern, di5closin6, as
applicable. matters related to going concern and using the &oinB concern basis of accounts'n8 unless the Trustees
either intend to cease operations. or have no realiSDC altern3ts¥e bul lo do so.
Auditor's responsibilitle5 for the audlt of the financial statements
We have been appointed as audltor under Section 144 01 the Charitiès Art 2011 and report in accordance wlth
the Act and relevant re8ulattons made or havin8 effect ther*undèr.
Our objectives are to obtsin reasonable assurance about whether the financial 5tstementS a5 a whole are free
from material mi5Statement. whether due to fraud or errof. and to IS5u* an auditor'5 report that includes our
opinion. Reasonable assurance is a high level of asstsrantè but is not a guarantee tha1 an audli conthct@d in
ccordance with ISAS IUKI will alwa￿ detect a malerial misstatement when it exists. Mi55tatements can arise
from fraud or eiror and are considered mateiial il. individually or in the a8gre8ate, they could reasonably be
expected to influence the economic decisions of users taken on the basis of these h"nancial statements.
15-

BATH SPA UNIVERSITY STUDENTS, UNION
INDEPENDENT AUDITOR'S REPORT {CONT114UED)
TO THE TRUSTEES OF BATH SPA UNIVERSITY STUOENT5' UNION
A further description of our responsibilitiÈs for the audit ol the linancial statements Is located on the Finanoal
Reporring Council's website at: http.'//www.frc.org.uk/audit0rs￿5po￿SIb1lIties. This description forms part of our
auditor's report.
Emtent to which the audit was ¢onsidered capable of detedin8 irregularities, includin8 fraud
The oblecbves of our audit. in rÈspert to fraud. are.. to identify and assess the risks of material misstatemènt of
the fi'nancial statements due to fraud.. to obtain sufficient appropriate audit evidence regarding the asgessed risks
of material misststement due to fraud, through designing and implementing appropriate re5ponses,' and to
respond appropriately to fraud or suspected fraud identifi'ed during the audit. However, the primary
responsibility for the prevention and detection of fraud rests with both those charged with governance of the
entity and its mana8eFnent.
Our apprtsach was as follows..
We idents'fied areas of laws and regulattons that could reasonably be expected to have a material dfecl
on the fi.nancial Statements from our 8eneral seitor èxperience, and through discussion with the
trustees and Dther managernenl las required by auditin8 Standards). and discussed with the trustees and
other management the policies and procedures regarding compliance with laws and regulations (see
below)..
We identtfied the following areas as those most likely to have such an effect.. health and safety,. General
Daia Protectr'on Re8ular5on IGDPRI,. Iraud.. bribtry and corruption, and employment law. Audinng
standards limit the required audit piocedure5 to identr.fy non-compliante with these laws and
regulatr'ons tts enquiry of the trusteès and other management and inspection of regulatory and le8al
correspondence, if any. Thè identshed actual or suspected nonvcompliance was not Sufficiently
signifftant to our audit to result in our response bein8 identified as a key audit matter.
We considered the legal and regulat¢)ry frameworks directly applicable io the linancial statements
reporttng framework IFRS 102 and the Charitr'es Act 20111 and the relevant tax compliance re8ulations in
the UK,.
We considered the nature of the ¢harily's operatrons, the control environment and Inancial
performance.
We comrnunicated identrfied laws and regulations throu8hout our team and remained alert to any
indications of non-compliance throu8hout the audit..
We considered the procedures and conirols thal the charity h35 established to address risks identlfred,
or that otherwise prevent. deter and detert fraud.. 3n¢l how senior management monitors those
progr3mme5 and controls.
8ased thi5 understanding we desi8ned our audit procedures to identify non-compliance with such laws and
re8ulation5. Where the risk wa5 considered to be higher, we performed audit procedures to address each
identilied fraud risk. These procedures included testin8 manu31 iourna15; reviewing the fi'nancial statement
disc105ures and testrng ro support?ng docurnentaDon.' performin8 analytical procedures,. and enquiring of
management, and were de518ned to provide reasonable assurance that the financial Statements were fr￿ from
fraud or error.
Owin8 to the inherent limitahon5 of an audtt. there is an unavoidable risk that we may not have detected some
material misstatement5 in the financial statements. even thouEh we have properly planned and perfoimed our
audit in accordance with audiring standards. For example. the lurther removed nO￿(OMplI3nce with laws and
regulations lirre8ularitr.esl is from the events and transacrions reflected in the fi.nancial statements, the less likelv
the inherently limited proced(Jres required by auditing Standard5 would identify it. The risk is alsts greater
regarding Irregularities occurring due to fraud rather tharb error, as fraud involves intentional Cor￿ea1ment.
forgery. collusion, omission or misrepresentation. We are not responsible for preventing non-compliance and
cannot be expected to detecl non-compliance with all law5 and regu13D"ons.
16-

BATH SPA UNIVERSITY STUDENTS. UNION
INDEPENDENT AUDITOR'S REPORT (CONTINUED
TO THE TRUSTEES OF BATH SPA UNIVERSITY STUDENVS. UNION
Other matters
Your attention is drawn to the fart that the charity has prepared financial ststements in acCOrda￿e with
'Accounting and Repothng by Charities.. Statement of Recommended PTactice applicable to charitie5 preparing
their aCCOLJnts in atcordance with the Financial Reporring Standard applicable In the UK and Republic ol Ireland
IFRS 1021" las amended) in preleience to the Accounting and Reporting by Charities.. Statement of Recommended
Practice issued on l April 2005 which is referred to in the e￿an[ regulations but has now been with4rawn.
Th15 has been done in order for the fi.nancial statements to provide a true and fair view in accordance with current
Generally Actepted Accounting Practice.
Use of our report
This report 15 made solely to the chority'5 Iru5tees, as a body. in accordance with part 4 of thechèrities IActounts
ènd Beportsl Re4ulation% 2008. Our audit work has b••n ythd•rt*k•h ko that W• rn16ht gtstp to th4 chantv.
tfustees those m4tters we are required io state to them in an auditors. report and for no other purFose. To the
fullest extent pefmitted by law. we do not a¢¢epi or assume responsibility to anyone other than the charity and
the charity'5 trustees as a body, lor our audit work. lor this report. or for the opinion5 we have formed.
TG GrLX*
Arnanda Kruger FCCA Isenlor Statutory Audiwrl
for and on behall ol TC Group
StotutoryAudltor
Oflice.. Bristol
Date..
0910112025
TC Group is eligible for appointment as audiior of the Charity by virtue of its eligibility for apFointment a5 auditor
of a company under tsl section 1212 of the Companies Art 2(J)6
17-

BATH SPA UNIVERSITY STUDENTS. UNION
STATEMENT OF FINANCIAL AcllviTIE5
INCLUDING INCOMEAND EXPENDITUREACCOUNT
FOR THE YEAR EPIDE0 31 JUIY2024
Current financial year
Continuing
Unrestricted
funds
2024
Continulng DI$￿￿tInUed
Restrirted Unre5trirtèd
funds
funds
2024
2024
Total
Toiol
2024
2023
Not¢s
Income and endowments from:
Donations and le8acies
Charitable activitles
Other trading activities
Investments
other income
1.327.435
403.585
48.732
2,627
9.816
1,327,435
708,244
48,732
2.627
9.816
833,096
662,431
48,196
596
?,183
304,659
Total Income
1.792,195
304.659
2,096,854
1,551,502
EMpendrtur• on..
Raising funds
Charitable activities
37.368
1.195.470
37,368
1.841.728
59.392
1,523,247
646.258
Total expenditure
1,232,838
646,258
1.879.096
1,582,639
Net Incomellempendlturè)
559,357
1341.5991
217.758
131,1371
Net movement In funds
li
559,357
1341,5991
217,758
131,1371
Reconciliation of lunds..
Fund baldnces at l Aug¢Jst 2023
667.307
2,710
670,017
701,154
Fund balances at 31 July 2024
1.226.664
2.710
1341,5991
887,775
670.017
The Statement of financial includes all gains and losses recognised In the year. All irKome and
expenditure derive from contr'nuing activities apart from the Union'5 Shop which was discontinued in the year.
18-

BATH SPA UNIVERSITY STUDENTS. UNION
STATEMENT OF FINANCIAL AcfiviTIES ICONTINUEDI
INCLUDING INCOME AND EXPENDtTURE ACCOUNT
FOR THE YEAR ENDED 31 JULY2024
Prlor financlal year
Unre5trirted
fvnds
2023
Restricted
fund5
2023
Total
2023
Notes
Income and endowments from..
Donarions and legacies
Charitable activities
Other trading activitie5
Investments
Other Income
831.741
662.431
48,196
596
1,355
833,096
662.431
48,196
596
7,183
7,183
Total Income
1,550,147
1,35S
1.551,5ts2
Expenditure on..
Raising funds
Charitable activities
59,392
1,523,247
59,392
1,523.247
Total expenditure
1.582,639
1,582.639
Net Intornellexpendlture)
132,4921
1,355
131,1371
Transfers between funds
11,3551
1,355
Nèt rnovement In funds
li
133.8471
2,710
131,1371
Retonciliatlon of lunds..
Fund balances at l August 2022
701,154
701,154
Fund balances at 31 July 2023
667,307
2,710
670,017
19-

BATH SPA UNIVEiisrrY STUDENTS. UNION
BALANCE SHEET
A5AT31 JULY2024
2024
2023
Notes
Fixed assets
Tangible assets
Current assets
Stocks
Debtors
Cash ai bank and in hand
15
544,224
567.IX)8
16
13.479
92.344
394.858
23.059
67.599
801,348
17
500,681
892.(YJ6
Creditors.. amounts lallini due withln
onè year
18
1129.4071
1771,6191
Net current assets
371.274
120.387
Total assets less current Ilabllltles
915,498
687,395
Prowlsions for Ilabllities
127,7231
117.3781
Net assets
887,775
670,017
Income fund5
Restricted lund5
20
2.710
2,710
Designated funds
General unrestricted funds
21
69,368
815.697
71,732
595,575
885.06S
667,307
887,775
670,017
The financial statements were approved by the Trustees on 9 January 2025
6F(QAekVtdl
Jasmine Raymond-Barker
Trusteè

BATH SPA UNIVERSITY STUDENTS. UNION
STATEfrAENT OF CASH FLOWS
FOR THE YEAR EAIDED 31 JUIY2024
2024
2023
Notes
Cash flows from operatin8 actlvitles
Cash lab50rbed byllgenerèted from
operations
25
1398,9021
671,406
Investing artiW￿e$
Purchase of tangible fixed assets
Proceeds from disposal of tangible lixed
assets
18,0221
115,8691
12.1931
2,627
Invesiment income received
596
Net cash used In Investing actfjvities
17.5881
115,2731
Net t45h used in finandnl arti¥Stles
Net Ide¢reaselllncreas* In t•sh and cash
equlvalents
1406.4901
656,133
Cash and Cash equivalents at be8innin8 of year
801,348
145,215
Cash and cash equlvalents at end ot year
394.858
801,348
21

BATH SPA UNIVERStrY 5TVDEpifs' UNION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY2024
AccountinE policies
Charity information
Bath Spa Univer51ty Students, Union is 3 chariiable incorporated or6ani5alion and 15 governed by the Union's
Conststution, which was approved in May 2020. prior to its incorporation on I" Augusl 2020.
The Charity replaced the previotjs unincorpoiaied as50ciatiDn111390371 which ceased trading on 31, july
2020. transferring all its assets and liabilities to the new Charitable Incorporated Organisarion111895471 on
I" Au8U5t 2020.
1.1 AccoUn￿n@ convention
The financial statements have been prepared in accordance with the Charity's 8overning document, the
charitt.es Act 2011 and "Accounting and Reporting by Charities.. Statement of Recommended Practtce
applicable to charities preparing their accounts in accordance with the Financial Reportin8 Standard
applicablè in the UK and Republic of Ireland IFRS 1021. las amended for accounting periods commencing
from I january 20161. The Charity is a Public Beneht Entity as defined by FR5 102.
The hnancial statements have departed from the Charitre5 IAccounts and Reports) Regulations 2008 only t¢
the exient required to provide a true and fair view. This departufe has involved lollowin8 the Statement of
Recommended Practrce lor charitse5 apptying FRS 102 rather than the version ol the Statement ol
Recommended Practrce which is referred io in the Regulatfons but which has since been withdrawn.
The finantial statements are prepared in sterlin8, which is the funttional currency of the Charity. Monetary
amounts in these financial Statements are rounded to the nèarest £.
The finan¢i81 statements have been prepared yndeT the historical cost torwention. The principal affjounting
policies adopted are set out below.
1.2 Golng concèrn
The relatt'onship between Bath Spa University and Bath Spa Vniversity Students, Union is detailed n Bath
Spa University Students, Union Bye Laws. èpproved by both the Students. Union and the university.
8ath Spa University Student's Union receives a Block Grant from the University and occupies a dedcated
buildin8 Wlth use ol other buildings from ts.me to lime. The Students, Union pays lor an è8reed rent and
proportion ol utilitie5. The University pays for security. tleaning staff and portering as well as IT. This non-
monetary support 15 Intrin51C to the relationship between the University and the Students. Union.
Although Bath Spa University Students, Union conrinues to generate supplementary lundin8 from Var￿￿5
primary purpose trading activities, it will always be dependenl on the University's support. There is no
reason to believe that thts or equivalent support from the Univer51ty will nol continue for the forcsecable
future, as the Education Act 2011 imposes a dijlv on the University to ensure thc financial viability of its
student representative body.
The Ilnancial statemenis have therefore been prepared on the going concern basis. The Trustees rewew this
regularly and consider various scenarios and how they plan to deal with these. The forecasts show tIEt the
Union ha5 5uth"iient reserves and cash to be able to continue for the foreseeable future. The Board continue
to review the management accounts and financial plans on a regular ba515 to monitor progress against these.
This ensures that appropriate action is taken as necessary.

BATH SPA UNIVERSITY ￿UDE1[rs, UNION
NOTES TO THE FINANCIAL ￿ATEmENTs (CoP￿INuED1
FOR THE YEAR ENDED 31 JULY2024
Accounting pollcFes
Icontinuedl
1.3 Charltable funds
Unrestricted funds are available lor use ai the discretion of the Trustees in furtherance ol their charitable
objectives.
Restricted funds are subjert to specifi"t condrtions by donor5 or grant0￿ as io how they may be used. The
purposes and uses ol the festriued fund5 are set out in the notes to the financial statements.
Endowment funds are subjert to specith'c condib'ons by donors that the capital must be maintsined by the
Charity.
1.4 Income
The Students, Union recelves a block erant and oiher miscellaneou5 8rants from Bath Spa University oach
financlal year. These are included within doAah"on5 and legacies on a received bas15.
Time donated by the Students, Union members is not recognised in the financial statements as this cannot
be reliably measured.
All income from charitable acDviDes and tradin8 artiviries are reco8nised on an accrLsals basis, exclusive of
value added tax. with any money received for seryices provided after the year end deferred.
Other Income Is credited to the Siaiement of Financial Activits'es in the year in which it Is receNable.
1.5 Expenditure
LiablSifjes are reco8nised as expenditure as soon as therè is a le8al or construcfjve obligation commith'ng the
charity to that expenditure. it is probable that a transfer of economit bÈnefi'ts will be required in settlement
and the amount of the obliÉatyon can be measured reliably. Expenditvre is accounted for on an accruals
basls and has been classified under headin8S that aggregate all costs related io the category.
Governance costs include those costs associated with meeting the constitutional and statutory requirements
of the chaiity and include the audit fees and costs linked io the strate8ic mana8ement of the charity.
Goveinante costs are Included within support Costs.
Certain expenditure is directly attributable to specifi'c activiries and thi5 has been included in those cost
categories Other cost5. which cannot be directly attributed to particular heading5 have been allocated on a
ba515 consistent with the use of resource5.
-23-

8ATH SPA UNIVERSITY STUDENT5. UNION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY2024
Accountin8 policles
Icontinuedl
1.6 Tangible fixed assets
Tangible fi.xed assets ale initially measured at cost and subsequently measured at cost or valuatfon, net ol
depreciation and any impairment losses.
Depreciatson Is recognised $0 as to write off the cost or valuation of assets less their residual values over
their useful lives on the folltswin8 ba5es-
Leasehold Improvements
Plant and equSpmer)t
Fixtures and ftttings
Bar & kitchen equipment
2% straight line
15%-33% straight line
20% reducing balan¢e
20% straighi line
The gain or loss arisin8 on the di5P05al of an asset is determined as the difference between the Sale
proceed5 and the carrw'ng value of the asset, and is retO8nised in the statement of financial acttvltSes.
1.7 Impaifrnent ol flmed assets
At each reportin8 end date, the Charity revlews ihe carryin8 amounis of its tangible assets to determine
whether there Is any Indicatr'on that those assets have suffered an Impairment loss. If any such indicatton
exists. the recoverable amount of the asset is estt'mared in order to determine thè exlent ol the imFelrment
loss lif anvl.
1.8 Stotks
Stock5 are valued at the lower of cost and net reali53ble value, after makin8 due allowance lor ot6olete and
51ow moving items.
1.9 Cash and cash èquivalents
Cash 3nd cash eqLtivalents include cash in hand. deposits held at call with banks. other short-term liquid
investment5 Wlth ori8inal maturitres ol three fftonths or less, and bank overdraft5. Bank overdrafts are
shown within borrowings in curreni liabilities.
1.10 Flnancial in51ruments
The Charity has elected to apply the provisions ol Section 11 'Basic Financial Instruments, and Section 11
'Oiher Financial Instruments Issues, of FRS 102 to all of Its financial instruments.
Financial instruments are recogni5ed in the Charity's balance sheet when the Charity becomes party to the
contractual provisions of ihe instrument.
Financial asset5 and liabilities are offset, with the net amoLtnts presented in the fi.nancial statement5. when
Ihere is a legally enforceable right to Set off the ￿cOgnISed amounts and there is an intention to settle on a
net basis or to realise the a55et and settle the liability simultaneously.
24-

BATH SPA UNIVERSITY sfuDENTS' UNION
NOTES TO THE FINANCIAL STATEMENTS ICONTINUEDI
FOR THE YEAR ENDED 31 JULY2024
Accoundng policles
(Continuedl
Baslcfinunriol assets
8asic fi'nancial a55ets, which Include debtors and cash and bank balances, are initially measured
transaction price including transaction costs and are subsequently carried ai amorknsed tost using the
effective interest method unless the arrangement constitutes a financing trnnsaction, where the transaction
is measured at the present value of the future recèipts discounted ai a markei rate of interest. Financial
assets cla551ft.ed as receivable within one year are noi amofrrised.
80sicfinoncialllobilltles
Basic h'nantial liabilities, including creditors and bank loans are ininally recognised at transacrion price unlèss
the arr3n8ement constitutes a financing transaction. where the debt instrument is measured at the present
value of the future payments discounted at a market rate ol Interest. Financial liabilities classified as payable
within Dne year are not amomsed.
Debt in51rurnents arè subsequently carried at amorb'sed cost, U5in8 the effecttve interesi rate method.
Trade credltors are obligations to pay for goods or services that have been acquired in the ordinary Course of
operatt.ons from suppliers. Amounts payable are classihed as current liabilities if payment is due within one
year or less. If not, they are presented as noTrcLrrrenl liabilitSes. Trade creditors are recognised initially at
transactr.on price and subsequently measured at amortised cosi usin8 the effects've interest method.
Dere¢oqnition oyfinonclalliobililies
Financial liabilities are derecogn15ed when the Charl￿$ contractual obligations expire or are discharged or
cancelled.
1.11 Taxatton
The charity is exempt from tax on its tharitable aaiviD"es.
1.12 Provlslons
Provisions are rerognised when the Charity has a legal or constructive prÈgent obligation as a re9Jlt of a past
event, it Is probable that the Charjty will be required to settle that obli8ation and a reliable tsrinate can be
made of the amount of the obligan"on.
The amount recognised as a provision is the be￿ e￿Irnate of ihe consideratlon required to settle the present
obllgation at the reporring end date. takjng into account the ri5k5 and ¢Jncertainlle5 surrounding the
obligètton. Where the effect of the tiJne value of money is material. the amount expected to be required to
settle the obligation is recognised at present value. When a provisron is measured at present value, the
unwinding of the discount is re¢o8nised as a finante cost in net incomellexpenditurel in the period in which
it arises.
1.13 Employee ben•fit5
The cost of any unused holiday entrtlement is recognised in the period in which the employee's setvices are
received.
Termina¢70n beneh.ts are recogni5ed immediately as an expense when the Charity is demonstrably
committed to termsnate the employment of an employee or to provide termination benefi'ts.
-25-

BATH SPA UNIVERsifi STUDENTS. UNION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY202
Accountin( policies
(Continued)
1.14 Leases
Rentals payable under operats.ng leases are chaiged 3$ an expense on a Straight line basi5 over the term ol
the relevant lease.
Crltlcal accoun￿￿1 estimates and jud8ements
In the application of the Charily's accounting policies, the Trustees are Tequlred to make jUdgem￿t5.
estimates and assumptions about the carrying amount of asseis and liabilities that are not readily apparent
from other sourte5. The esrimate5 and associated assumptsons are based on historical experience and other
frdctors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying as5umptr.ons arè reviewed on an ongoing basis. Revisions to accounting
estt"rnates are retognised in the period in whi¢h the estimate is revised where the revision affects cfjly that
period. or in the period of the revision and future period5 where ihe revision affects both current and future
periods.
Intome from donaiions and legacies
Unrestrlrted Resirided
funds
funds
2024
2024
Totsl Unrestrirted Restrlrted
funds
ftsnds
20Z3
2023
Total
2024
2023
Donaiions and 8ift5
Grarnts
6.637
1.320,798
6,637
1.320.798
9,220
822,521
1.355
10,575
822,521
1,327.435
1.327.435
831,741
1,355
833.096
Grants
Bath Spa Universitv-
Block Grant
Bath Spa Univer51tv-
Other grant5
Goverment 8rants
1.032.118
1.032.118
S4o.L￿j
640,000
288.430
250
288.430
250
182.521
182.521
1.320,798
1,320.798
822,S21
822,521
-26-

BATH SPA UNIVERSfTY sfuDENTS' UNION
NOTES TO THE FINANCIAL STATEMENTS {CONTINUED)
FOR ThE YEAR ENDED 31 JULY2024
Income from.. Charltabk activities
Total Funds
2024
Totsl Funds
2023
Freshers week
Gyln
Welfare and representatson
Student societse5
Shop
8ar and Cafe
NUS extra cards
204
9.503
32,877
18
116.200
319.556
183,894
383
37.318
139.955
304.659
226,764
16561
708,244
662,431
Other tradln8 ath¥ltles
Total
fvnds
2024
Total
funds
2023
Fundraisin6 events
Markènng
1,144
47,588
6,617
41,579
Other tradin8 actlvitt.es
48.732
48,196
Investments
Total
funds
2024
Total
lund5
2023
Interest income
2.627
596
27-

BATH SPA UNIVERSITY 5fuDENTS' UNION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED}
FOR THE YEAR ENDED 31 JULY2024
her income
Totsl
funds
2024
Total
funds
2023
Other income
9,816
7,183
Raisln% lunds
Total
fund5
2024
Total
2023
Fundra151n and ublici
Markenng
Fundraising costs
36,997
371
3'2,647
26,745
Fundraising and publictty
37.368
59,392
Expenditure on.. Charltable aCtI￿tIeS
Olrert Costs Dlrert Costs
2024
20Z3
Freshers Week
Gym
Welfare and representatr.on
Student societfres
Shop
Bar & Cafe
32.517
23,485
40.974
268,746
322,968
231,429
21,011
27.061
38,325
178,824
307,245
188,894
920.119
761,360
Share of support costs Isee note 101
Share of gLFvernance costs Isee note 101
3.177
18.432
746,649
15.238
1,841,728
1,523,247
-28_

BATH SPA UNIVERSI￿ STUDENTS, UNION
NOTES TO THE FINANCIAL STATEMENTS (CONfiNUEDI
FOR THE YEAR ENDED 31 JULY2024
10 Support costs
Support Go¥eman¢e
Costs
Costs
2024
2023
Freshers Week
Gym
Welfare and representaiion
Student societt.es
Shop
8ar and Cafe
31,902
23,038
40,195
263.634
316,824
227,584
651
470
32,553
23,508
41.015
269,014
323,290
232.229
21.026
27.080
38,352
178.947
307,457
189,025
820
5,380
6.466
4,645
3.177
18.432
921,609
761,887
Analysed between
Charitable a¢bvities
903.177
18,432
921.609
761,887
Governance costs include payments to the auditors of £9.72012023- £9.2WI for audit fees.
Support costs are split between Management ¢￿t5 of £857.09712023: £7Q8.55SI and Finance costs of
£46,Q8012023'. £38,094)
11 Net movement in funds
2024
2023
The net movement in funds is stated after charBinEllcreditin81'.
Depreclatton of owned tangible fixed assets
26.261
30,070

BATH SPA UNIVERsrfY STUDENTS. UNION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY2024
12 Rernuneration and btnefits
In accordance with the Bath Spa Univer51ty Student5, Union's Constitution, salaries were paid to the elected
offi'cers in respect of qualifying services. These were as follows..
2024
2023
Arran Luke Feliham
Poppy April Laycock
Marianne Evans
Laura Bold
Neetu Karwal
Alice fedds
Jasmine Raymond-8arker
Elise Booth
4,757
6,452
25,160
27,951
27,951
25.490
3.771
3,771
26.362
26,362
27.979
27,979
119,891
114,094

8ATH SPA UNIVERSITY sfuDENTS' UNION
NOTES TO THE FINANCIAL STATEMENTS ICONTINUEDI
FOR THE YEAR E140ED 31 JULY2024
13 Employees
Number ol employees
The average monthly number of employees during the year was..
2024
2023
Number
Number
Salaried staff
Casual staff
23
34
23
21
57
44
Empl+￿ment costs
2024
2023
Wage5 and salarie5
Social security costs
Othei pension costs
863.999
68.189
52.266
707,207
57,490
49.194
984.455
813.891
The above staff numbers equate to 3312023: 281 lull ts'me equivalents.
The number of employees whose annual remuneration was £60.000 or more
were..
2024
Number
2023
Number
Salaiied staff
14 TaxaiSon
The charity is exempt from taxation on its activm.es because all its Income 15 applied for charitable purpose5.
31

BATH SPA UNIVERSITY STUDENTS. UNION
NOTES TO ThE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JU£Y2024
IS Tangible fixed a55ets
Pl•rt FiKthros•nd
Oar & kltthe
e4ulpment
T¢tal
Cost
At l August 2023
Addits'ons
Disposals
722.194
2￿,642
8,022
1182.1581
115.998
101.825 1.230,659
8,022
185.3061 1310,8801
143.4161
At 31 July 2024
722.194
116,506
72.S82
16,519
927,801
DepreCIa￿On and impairnient
At l August 2023
Depreciation tharged in the year
Ellminated in respecl of disposals
190.177
14.440
274.803
9.392
1182,1581
96.845
663,651
2.429
26.261
138,8701 185,3071 1306,3351
101.826
At 31 July 2024
204.617
102.037
60.404
16,519
383,577
Carrying amount
At 31 July 2024
517,577
14,469
12,178
544,224
At 31 july 2023
532.017
15,839
19.152
567,008
16 Stocks
2024
2023
Good5 for resale
13,479
23,059
17 Dèbtors
2024
2023
Amounts falllng due within one year:
Tradè debtors
Other debtors
Prepayments and accrued Income
60,851
11,251
20,242
IS.605
113
51,881
92.344
67,599
32_

BATH SPA UNIVERSITY 5TUOEpifs' UNION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR EI4DE0 31 JULY2024
18 Creditors- amounts fallin8 due within one year
2024
2023
Other taxation and social security
Trade creditors
Other creditors
Accruals and deferred income
24.310
13.360
10,098
81.639
14,446
9,761
10,945
736.467
129,407
771.619
Provlslons for Ilabllldes
2024
2023
27,723
17,378
Movements on provisions..
At l August 2023
Additional provisions in the year
17,378
10,34S
At 31 July 2024
27,723
Bath Spa Students, Union is aware of recent examples of a change by HMRC in the interpretation of the
Irarnework over the treatment of catering supplies In educational establishments where these have been
provided by Students Unions. The matter is currentfy being contested nationally, lod by the National Union
of Students. The outcome and possible linancial effect of this matter is currently unknown. Whilst Bath Spa
Studenis, Union follows all previous advice received from HMRC. it has taken the precautionary moasure of
providing for a liability equal to 3 years based on known case5 were HMRC has Issued a demand for
payfflent.
33_

BATH SPA UNIVERSITY STUDENTS. UMION
NOTES 70 THE FINANCIAL STATEMENTS {coMfiNUED}
FOR THE YEAR ENDED 31 JULY2024
20 Re5trirted funds
The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust
subject to specFfic condition5 by donors as to how they may bè used.
At l August 2023
Incomln8
resOU￿e$
Trdnsfe
Al 31 July 2024
Wateraid
2,710
2,710
Previous year..
At l August 2022
Incomln
Transfers
At 31 July 2023
resources
Wateraid
1,355
1,355
2,710
WaterAid
The Union assists a local fundraising group to raise monies for Waler Aid.
21 Unrestrlrted funds
The unrestricted funds are as follows..
At l August 2023
Incomlnt
rèsources
Resources
txpènded
Translers
At 31 July 2024
MadenEa fund
Clubs and Societies
General fund5
1,311
70.421
595,575
2,024
135,435
1.959.395
11821
1139,6411
11.739,2731
3,153
66,215
815.697
667,307
2.096,854
11,879,0961
885,065
Previou5 year:
At I Au8u5t 2022
Inttsming
rewurces
Resourtes
expended
Trnnsfers
At 31 July 2023
Madenga fund
Clubs and socieries
General funds
1.311
109.513
1,439,323
1,311
70,421
595,575
fA.850
636,304
1103.9421
11,478,697)
11,3551
701.154
1.550.147
1.582.639
11.3551
667,307

BATH SPA UNIVERSITY STUDENTS, UNION
NOTES TO THE FINANCIAL ￿ATEmE￿N$ ICONTINUEDI
FOR THE YEAR EPIDED 31 JULY2024
21 Unrestrirted funds
Icontbnuedl
Madenga Fund. De5trgnated fund
The Madenga fund is an iniriative that supports ￿ernber5 with the cost5 of involvement in a sports club, and
charity chosen by members. The fund was created in memory of former Women's Rugby Club member
and Bath Spa university student Laura Madenga.
Clubs & Societies. Desi8natÈd fund
Any unspent intome at the end of the year, whether raised by members or as a ¥esult of unspent fundin8
from the Union in relation to clubs and societies. is carried foward for use in future periDd5. Any defi.cit of
club or society at the end of a yèar Is carriÈd forward and all clubs are aware that they are required to take
n any existsng debt and work io address that delicit. Where a club or society ceases or bècomes inactsve for
2 year5. any funds held as returned to the general budget to 511PPOrt other student activity.
22 Analysls of net a55ets between funds
Restrlrted
funds
2024
Genèrdl
fvnd5
2024
Totsl
Total
2024
2023
Fund balance5 at 31 july 2024 are
presented bv..
Tangible Fixed Assets
Othèr Net Assets
Provisions
544,224
368.564
127,7231
544,224
371,274
127,7231
567,008
120.387
117,3781
2.710
2.710
885,065
887,775
670,017
All of the 8eneral funds are unrestricted funds.
Detai15 of desi8naled funds are included in note 21 to these financial ststement5.
-35-

BATH SPA UNIVERSITY STUDENTS. UNION
NOTES TO THE FINANCIAL STATEMENTS ICONTINUEDI
FOR niE YEAR EAIDED 31 JULY2024
23 Operating lease commitments
At the reporting end date the Charity had outstanding commitments for future minimum lease payments
unijer non-cancellable operating leèse5, which fall due a5 follow5..
2024
2023
Within one year
Between two and Ilve years
In over five years
40.ty)J
200.000
160.000
40,000
200,000
2CQ,000
4CM).C4JO
440.0(X)
24 Atlated party transathons
During the year. Bath Spa Universlty Students, Union feceived a recurrent block grant from 8ath Spa
University of £1,032,11812023- £640.0001.
Bath Spa University Students, Union recetved other grants and income from Bath Spa University of Q88,430
12023.. £160,5021 durinR the year. The balance outstanding at the year end of £41.179 12023.. £2,277)
Includcd in trade debtors and £4.59412023.. £36.0001 is Included in accrued incorne. In addition. £40,725
12023.. £67Q,6031 was included In deferred Intomè.
Bath Spè University Students, Union made purchases of £47.96812023.. £49.7711 from Bath Spa University
durin8 the year. The balance outsianding of £nil12023.. f 45.0001 is included in accruals.
rhe key management personnel are considered to be the Trvslees. the Chief Executive Offi'cer, the Head of
Membership Engagement and Deputy Chief Execurive Officer and the Head of Finante, the Head of
Commercial & Trading and the Head of HR & Governance. The key m3na8ement personnel remuneration for
the year was £252,20812023.. £224,194).

BATH SPA UNIVERSITI STUDENTS, UNION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED}
FOR THE YEAR ENDED 31 JULV2024
25 Cash 8eneratèd from operatlons
2024
2023
Surpluslldefi-citl for the year
217.758
131.1371
Adjustments for..
Investrrent income reco8nised in statemeni of fi.nancial activities
Depreciation and impairrnent of tangible hxed assets
12,6271
26.261
15961
30,069
Movements in working capital..
Decrease In stocks
Ilntreasel in debtors
IDecreasel/incre3se In creditors
Increasè in provisions
9,580
124.7451
1635,4741
10.345
2,064
143,5181
697,146
17,378
sh (absorbed bylllenerated from operarfons
1398,9021
671,406
26 Analysis ol changes in nèt funds
The Charity had no material debt during the year.
-37.

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