Company Number. 13435053
Charity Number. 1197170
Huddersfield
Students,
Union
UNIVERSITY OF HUDDERSFIELD STUDENTS, UNION
Report and Audited Financial Statements
For the Year Ended 31 July 2025
Slud•TriS'

Contents
Legal and Administrative Information.................
Trustees, Report.........................................................................................................
Structure, Governance and Management...................................................................
Articles of Association..........................................................................................
Public Benefit.....,.
Trustees.............-..-......................-......-..........-..................................................-..
Committees and Delegation................................................................................
Pay Policy for Key Management Personnel...................................................,.....
Relationship with, and support of the University of HuddersfEId............-.....
Risk Management................................................................................................
Strategic Pjan 2024-27...............................................................................................
Strategy Update...
Values and Enablers...........................................................................................
KPIS.....................................................................................................................
Financial review.....
-13
Going Concern.................
-13
Reserdes Policy.................................................................................................14
Affiliations....................................................................................
.14
Custodian Activities.. Clubs. and Societies. Funds and the Annual RAG............15
Board of Trustees, Responsibilities....................................................................15
Disclosure of Infomation to Auditors........................................................
.15
Audtiors.................................,,..,................
IndependentAuditors' Report...................................................................................17
consolidated Statement of Financial Activities.....................................
.20
Consolidated Balance Sheets.............................
Consolidated Cashflow Statement....... .........
Notes to the Financial Statements........................
.16
.21
..22
..23
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Legal and Administrative Information
Trustees..
> Alison Jones
Chris Warringion
> Martin Calvert
> Garelh Pye (Appointed Chair of Board 0110812024)
Wamick Aijaz
Kevin John
Melissa Cheshire
Bethany Mufphy
Freya Askwilh-martin
> Irfan Rather
Nosheen Dad (appointed 11103120251
Company reglstered number. 13435053
Charlty reglstered number: 1197170
Prlncipal office".
Students, Union
Queensgate
Huddersfield
HDI 3DH
Senlor Leadershlp team:
> Lydia Blundell, Chief Executive Officer
> Matt Short, Deputy Chief Executive Officer & Director of Business Development
(resigned 0410412025)
> Rae Ellis-Barron, Head of Business Development (appointed 01104120251
> Danny Levick. Head of Student Experience lappoinled 0110412025)
Auditor:
Knox Cropper LLP
65-68 Leadenhall Street
London
EC3A 2AD
Bankers:
HSBC Bank Pl¢
2 Cloth Hall Street
Huddersfield
HD1 2ES
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Trustees, Report
The Trustees present their Annual Report together with the audited financial statements of Universty of
Huddersfield Students. Union for the year ended 31 July 2025. The Annual Report seNes the purpose of
both a trustees, report and a directors, report under company law. The trustees have adopted the provisions
of the Statement of Recommended Practi￿ (SORP) °Accounling and Reporting by CharitEs' Ni preparing
the annual reFQrt and financial Statements of the charity.
The financial statements have been prepared in ac¢ordanc6 with the accountlng policies set out in notes to
the accounts and compty with the charity's governing document, the Charities Acl 2011 and Accounting arKJ
Reporting by Charities.. Statement of Recommended Practi￿ applicable to charities preparing their accounts
in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102)
(effective 1 January 2019).
Since the group and the company qualify as small under section 383 of the Companies Act 2006. the group
strategic report required of medium and large Mmpanies under the Companies Act 2006 Istrategic report
and directors, report) Regulations 2013 has been omitted.
Structure, Governance and Management
Articles of Association
University of Huddersfi8ld Students, Union (HSU} is constituted under the Education Act 1994 as a charity
with internal regulations and Articles of Association approved by the governing body of the University of
Huddersfield (the University) arbd members of HSU. As a registered charity and a company limited by
guarantee. its articles have been approved by the Charity Commission. HSU charrf(able objects underthe Act
are Ihe adVan￿rnent of educalion of sludenls at the University of Huddersfi8ld for the public benefit by..
> Promoting the interests and wellare of students at Universty of Huddersffield during their course of
study and representing. supporting and advising students-
> Being Ihe recognised representative channel between S￿dents and Universtty of Huddersfield and
any other extemal bodies. and
Providing social, cultural, sporting and recreational activities and forums for discussions and debale
for the personal development of its students.
Public Benefft
In planning and delivering our services and activitiès, the Trustees and management of the Union hav¢ given
due regard to Ihe need to ensure that the charity provides public benefit, following the Charity Commission's
guidance on these matters. Delalts on how the Union has cartied out ils activrf(ies foT the public benefit are
outlined in the strategic plan section of this report.
Trustees
HSU is administered by its Board of Trustees made up of 4 students elected by the memLwship of HSU. 5
external Trustees and 2 appointed Student Trustees, who are regarded as the Charity Trustees for the
purposes of the 2011 Charities Act. The four elected Officer Trustees are remunerated as auth￿ised by the
Articles and individuals cannot serve more than years as an Officer Trustee.
As the Charity Trustees, all Officer Trustees receive an induction Into thelr legal and administrative
responsibilities, with an on-going training wogramme as and when needed. addressing matters arising during
their term of office.
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The Exiernal Trustees and Studenl Trustees are selected and appointed lo ensure there is a balance of skills
and experience within the Board. The Extemal Trustees are appoinled lo support the Students, Union to
discharge strategic and governance functions. and the Student Trustees ensure thatthere is the best possible
diversity of student represenlation on the Board. Student Trustees serve a 12 month temi that can be
extended for a further year. Trustee search and selection is undertaken by the Appointments Committee.
which includes Officer and lay Trustees., vacancies are 2dvertised, and candidates are invited to apply setting
out how they meet a Trustee specification. The Univèrsity Vicè Chen¢ellor appolnts one external Trustee,
bringing a University perspective to Board deliberations.
Committees and Delegation
The position of the Officer Trustee is at the heart of the Board of Truslees and their memtrkrship on all other
key sub committees ensures that the student voice is heard throughout HSU decision making structures and
that our decision makers are accountable to the student body.
8oard of Trustees
Meets
quarterty
Responsible lor over211 strategic direclhm of HSU.
Management ar)d
Executive
Committee
Meets
monthly
Responsible for campaigning and representative functions of
HSU as well as ensuring activity is in line wilh slralegic,
0￿rational and financial plans.
Union Development
Committeè
Meels
quarteity
Responsible for review and development of financial
procedures, budgets, stsffing policies and prctedures.
Audil Committee
Meels
annually
To consider audit ￿qUIreMents. evaluate risk wofile and
appelile, recommend appoinlmènls to Board and
remuneration arrangements.
student Activities
Meets al least
monthly
To consider mallers affecting student activity groups. their
funding bids and activity plans.
Exe¢ub"ve
The Board of Trustees and Union Development Committee consider annual budgets and accounts on
quarterly basis. On a day-to-day basis perfomiance is monitored by thè management team.
The four OffI￿r Trustees are responsible for the day to day development of representation and campaigning
policy Ihal affecls students. A Student Panel, rnade up of a random, represenialive sample of 30 students,
establishes Students, Union policy, and an appointed AcGounlability Panel scrulinises and supports the work
ofthe OffI￿r Team.
HSU also employs around 25 non-student staff for the sake of continuity in the management and delivery of
ils many activities. A clear staff struclure Is in place and staff members are accountable to the Chief Executive
for the performance of their duties. The Chief Executive is accountable to th8 Board of Trustees and is
formally Ilne managed by the Chair of the Board of Trustees.
Pay Policy for Key Managemenl Personnel
The Board consider the Trustees and the Senior Management Team to be Ihe key management personnel
of the Union in charge of directing controlling, running and operating the Union on a day to day basis. All Lay
Trustees and Sludènl Trustees give of their time freely and did not receive remuneratton in the year. Officer
Trustees receive an annual salary lor their worl¢ 8s Full-time Elected Officers_ This is set at a fixed scale that
is the same for all the Officer Roles. Union Development Committee (see table above) regularly review
remuneration arrangements and benchmark against the sector.
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The Senior Managers ar8 appraised annually by the Chief Executive and receive an increase rf they have
successfully achieved their objectives forthe year. Senior Managers who have reached the top of their grade
do not usually receive any further Incremental uplifts. The pay scales for SLT are considered in line with the
pay scales for the whole organisation and regularty benchmarked against the sector.
The Chief Executive is appraised by the Chair of the Board and the President. who will recommend an
InC￿8$e subject to achieving the objeciives that are agreed by the Board at the start of the year. Thls
recommendation is considered by Union Development Committeè and then approved by the Board of
Trustees.
Relationship with, and support of the Universty of Huddersfield
The relationship between the University and HSU is formally established in the University Code of Practice.
detailed in the HSU Articles, a joint memorandum of cfroperation, and the buifdings lease approved by both
organisations.
The relationship with the University Is based on partnershlp where Ihè strategy of the UnNersity and HSU
are aligned and aim to make student life better. Regular meetings between Senior Universty slaff and the
Officer Trustees discuss strategy and joint worklng. These and other meeknngs also provide opportunities to
represenl student views and lobby Universtiy decision makers to make changes that will irnpr*Jve the student
experience.
HSU receive¢ a block granl from Ihe University of £1.258m in 2024125. HSU pays an annual rent of circa
£204k and is responsible for utility costs and recharges rnade by the University. The University provides
8UPPOrt and other services to HSU, such as IT support, and access to facilities such as Tooms and sports
facilities, which supwrt sludent aclivities. The Students, Union is able to draw on professional advice of
university collèagu8s in areas such as health and safety and data protection.
In addition to the University granl HSU operales a number of income generating activities:
Freshers, welcome activities g8nerated circa £38.7k income. the balance of which is spent on
activities for membeffs benefit.
> HSU'S relail operation generated £2.2k net surplus, before marketing costs.
> HudLets letting agency relumed a net surplus of £32k whith will be gift aid to the SU during the year.
Consequenlly. HSU generates a modest supplementary funding contributron from its prlmary purpose and
ancillary trading activities, which illustrates that HSU will continue to be dependent on the University to
provide finances for th8 wide range of mèmbership seNices It offérs. Therè is no reason to believe thal this
support from the University will not continue for the foreseeable future, as the Education Act 1994 imposes
a duty on the University to ensure the finanaal viability of its student rapresentative body.
HSU do not engage in raising funds directly from the general public; the Union will continue to monitor its
sourc88 of income and should il slart to generate signrfi¢8nt funds from fundraising activities it will infomi the
fundraising regulator and take all necessary measure$ to ensure it complie$ vrith the guidance issued.
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Risk Management
The Board of Trustees has examined the major strategic, business and operational risks la￿ by HSU. A
risk register is established and is updated annually, with quarterly updates to Board of any significanl changes
in the risk profile. Further to this the Union has Ltndertaken a Business Impact Analysis and established a
Business Conlinuity Plan to minimise the impact of business disruption and reputallonal risk.
Where appropriate, systems or procedures have been eslablished to mitigate the risks the Charity faces.
Budgetary and financial risks are minimised by the implementation of procedures for Ihe authorisalion of all
transactions and projects. A reserves policy is established to ensure financial viability. pro￿dureS are in
place to ensure Complian￿ and the health and safety of staff, volunteers and participants in all activities
organised by the Union. These procedures are periodically reviewed to ensure that they continue to meet the
needs ofthe Charity.
Other key risks facing th8 organisation include=
Governance Risk
> Union elections are undemocratic, compromised or are void.
> Relevant policies and procedures are not created or kept up to dale.
Extemal Risk
> NUS UK'S position threatens HSU'S reputation.
> NUS Charity is no longer financially sustainable and is unable to offer service support in areas
including retail, and officerlstaff development.
> Government changes funding and evaluation mechanisms for Higher Education.
Regulatory and Compliance Risk
> HSU fails lo b8 compliant with GDPR and PECR.
> HSU fails to comply with freedom of speech legislation.
Financlal Risk
> University grant to HSU is reduced as University is Subject to kn'ghter public spending or student
numbers drop.
Pension structures deliver unmanageable In￿ase5 in cosls to HSU.
> University raises premises rent to 2n unsustainable level
Critical systems failu￿ or major disruption to operations affects the Union's ability lo trade or operate
Operational Risk
Crttical system failvre or major disruption to operalions affects the Union's ability to trade or operate.
> The Union fails to have skilled staff to meet operational and commercial requirements.
Communication of activities and issues be￿een staff is poor leading to failures in planning and
elivery.
HSU Heamh, safely and welfare is not appropriately managed.
Strategic Plan 2024-27
The mission of Huddersfield Students, Union is to make studenl life better. The suctsss of delivering this is
measured through three levels of engagement.. we will work logether to create personal connections,
inclusive communities and meaningful change. All the departments and team8 conlTibute to engaging
students, and those departments include..
> Student Voice.. supporting elected representatives and academic reps lo make changes within and
beyond the University.
> Student Advi￿.. providing advice, information and representation through appointments with
students.
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> Student Activities and Events.. supporting students to participate in general and academic societies,
volunteering and sports dubs and coordinating a pro9ramme of high profile welcome events. activibes
and events throughoLrt the year.
> CommuniGations and Marketing". promoting HSU seNices through a range of media, responding to
Students and undertaking market reséarch. Students, Union Shop.. a store on campus that provides
relevant products for students,
> Finance and Administration.. providing finance and HR support to ensure HSU functions effectively.
> HudLets'. a student lettings agency providing a full range of affordable and qualiiy assured lettings
options to Students.
The above departments are directed by a small Senior Leadership Team who work closely wih tlk elected
Offic8rs to ensure activitEs and team members are focused on having a positive impacl for students. The
Union enters this next strategic period 2024-2027 with an eye on our cenlenary - HSU tums 100 years old
in November 2027 and we a￿ ready lo ￿lebrate with a fantastic and impacfful three years in the lead up to
this date.
Strategy Update
There have been many successful project$ and activities undertaken during this the fir￿ yoar of this plan,
and some of the highlights in this financial year are listed below:
2,082 students cast over 7,000 votes in our OffI￿r Elections. which equates to a 180% tum wl. The tumout
was lower than 2023124 mainly down to the lack of NUS Delegates Election this year. This was due to an
NUS decision on how the delegates are selected.
Our Advice Centre supported over 7,300 students with enquiries and appointments. In addition to the regular
academic. housing and finance appointments, the team have formed new relationship5 With The Royal
College of Nursing (RCN) to support nursing students with complex fitness to practice cases, and Invidus
Wellbeing who will be supporting students thro￿hOUt the new academic year with their wellbeing using a
social prescribing model.
The advice Cent￿ also employed a Health & Social Care degree student on a placement, with responsibility
to provide a regular outreach servlce using our peer support offering. This proved successful and has given
us a sustainable model to move forward with.
We gave 6,187 students a fr88 membershlp to their academic society, enabling them to lake part in guest
lectures, trips and activlties. Highlights include- Bioscience trips to The Deep, Huddersfield Actlng and
Thealre Society {HATSoc) putting on perfomances, Pharynaoy society taking the lead on the BSPA Pennine
Area Spring Conference and the Marketing Society running an alumni event where they invited back
marketing alumni to talk with current students.
Our Student-led trlps and events werè diverse and wide-ranglng. catering forthe needs of our 1,196 Society
Members and 489 Global Society Mèmbers. From the Qawwali Night with the Pakistan Students Society, to
the Grand Iftar evenl wrth Isoc. We had showcases from Musical Theatre, our Dance Swety and the
Wrestling Appreciation Society. We supported the UnNersity Brass Band following the University pulling their
funding, and ensured that they could continue to perfomi at Unrversity and local evenls as well as Competing
in UniBrass.
Our Sports Teams continued to go from strength to strength. Highlights from Ihe year include.. Basketball
men winning Tier 3B with 9 wins and 1 loss all season, Football men 1$1 team finishing 2, in Tier 5B,
Volleyball women tied 31d place in Tier 3B following a winles5 23124 season. As well as competilive sU￿e$S
our clubs raised money for charity, including Rugby Union raising over £1.000 for Movember.
Climbing & Mountaineering were awarded 'Sports Club of Year, with a huge membership of over 70
students and having excellent v￿ekend trips away.
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Finally, we continued our success in Varsity, winning again, 12-1, to keep the trophy in Huddersfield for the
3 successive year.
OLFrAcademic Reps have worked hard against the backdrop of a challenging Higher Education Sector. Some
changes they've successfully implemented include..
> Ran an inclusivity checklist workshop at the University Teaching and Learning Conferenc8 with
university Academics.
> started a software review across campus,
Campaigned to change the buildin9 access hours for students in Arts and Humanili8S
Contnbuled to Ihe launch of a néw feedback tool. UNITU, in Computing and Engineering.
The Student Llberatlon Networks are volunteer students who join communities led by Student staff to make
targeted change fc
Women
B.A.M.E. Students
Disabled Students
Global Citizens
The Social and Clas5 Mobilily Gommunity
And LGBT+ Students
Some of their key campaigns have been:
B.A.M.E. Ambassadors:
> Delivered Black History Month, from Caribbean cuisines, drummers, dance performances to film
screenings, plays and workshops.
> Finalised the statement for the reopening of the Ramsden building acknowledging the history of the
building.
Women's Nètwork:
> Implemented new menstruation and menopause guidance across the University, alongside an
allyship guide - glving out hundreds of free period products to students who neede(J them.
Campaigned for International Women's Day, supporting the Dance and Cheerleading Societies 10
raise over £200 for charity.
Global Cilizen's Network:
Social events bringing ihe community together. with over 200 studenls attending the inaugural Global
Social.
Disabled Students. Networf(:
> Provided individuali$ed guidance and signposting to students in need of support.
> Supported National awarersess days including sign language week, epilepsy. a walk for autism and
Disability History Month.
> Ran an awareness campaign around sunflower lanyar(Is.
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LGBT+ Nfrtwork:
> Celebrated Pride Month with events including social nights, awarenes8 Stalls and culmlnatlng in
Klrklees Pride.
> Enabled safe community space for members through regular Nelwork meetings arvj stalls.
> Attended National Day of Action to enable effective campaigning following the change in the law
relating to Trans definition.
Class and Soclal Moblllty Network:
> Ran a series ofevents bringing local connections onto campus, safety. travel, child and famlly support,
money saving.
The elected Olficers set oblectlves in Ilne with the first year of the strategy, some of their achievements
include-
> Running a successful Al Campaign, helFin9 Students understand how Al can safely be used to
support their time at Universty.
> Ensuring that all intemalional students can pay their tuition fee in instalments
> Enabling more women in get involved in sport, destigm8tisin9 barriers and raising awareness of how
to take part.
> Delivering a sexual violenGe awareness campaign, encouraging several hundred students to sign up
to the white rlbbon allyship campaign.
> Putting on a Men's Mental Health Fair, with servbces around Kirklees.
> Gathering feedback for a designated women's gym and fitness space. as well as new women's only
fitness classes.
> Submitting evidence to the APPG for Students, working with the national stL￿ent movement to
remove the need for student guarantors.
> Responding to the EHRC consultation.
> Meeting with local MP'S in response to the Govemment whitè paper on immigration and intemational
students.
Values and Enablers
We will demonslrate our values by ensuring everylhing we do is inclusive. engaging, empowering and
delivered with integrity.
ValY•t￿ty41Hudd*IIWd
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KPIS
HSU Commun
En
em•nt Measure
C41mfflunltkn
.3125
3747
Creatlng Connections
Creatin£ Connections
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Strategy
Therne
Year 1
Measures
Progress
"I believe that
HSU has a
positive impact
on the lives of
Students.
1Cx)% core staff {agree or strongly agree) that HSU has a positive
impact on the lives of students (Staff Survey 20251
Equity Is at
the heart of
everythlng we
l am trealed
with faimess.
dignity, and
respect al work
(96%)
1[￿j% of core staff (agree or strongly agree) that l am treated with
fairness, dignity and respect at work (Slaff Survey 2025}
93% of core staff {agree or strongly agree) that HSU values all staff
equally (Staff Sup4ey 2025)
I feel that HSU
values all staff
equally {92¥¥)
951 UGT and PGT transcripts.
25 PGR transcripts
Quole from Student.. .1 am truly honored to reGeive the Student
LeaderA ward certrficate from the Student UTr￿n. It means a lot to
me to b8 recognized formy contributions to studenl lile, and I
sinCe￿IY appreciate this aCknO￿edgment. Thank you forthe
C8rtlficate-it greatly motivates me to continue making a po&"tive
impact_
Additionally, l am exoited about the W0￿shOp opportunityyou h8ve
shared. I believe rf Mll be valuable In enhancing my skills. and I
would like to confinn my 8tt8ndance. Please let me know if Ihere ar8
any fvrther Steps I need to take to registerorprepare forit.
1000 sludents
will receive a
Volunteer
Transcript.
Invest in and
celebrate
Student
Leaders.
Once again, thank you forthis ￿cOgnItIon and forpn)viding such
wonderful opportunities for students. I look fO￿ard to st8ying
engaged and contributing further..
25 Student
storie5
Published.
15 stories published online, 10 people identified to be filmed by the
end of the year.
AQS self-
evaluation
complète.
Provid8
responsive
Irsterim self-ass85smenl completed. with 4 actions identified.
FIV￿ >.Sludwnt C¢ryti•l
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and expert
advlce
Inclusive and
accessible
demoGTacy
and
repre88ntstion
with student
leadershlp at
Its core.
Representation
Review..
Committee
structures and
students role in
providing
feedback and
creating
501ulions.
Review Complete,
22 Reps took place in a facilitated workshop reviewing currenl
pradiGe and reimagining slruclures.
Workshop delivered at the University Teaching and Learning
Conference, and at the FIIAISE conference in September.
Change-makers Targèt: 5°
60
Inclusive and
fun
programmè of
events and
actlvitses for
all students
3 family-
friendly event5,
and 3 specific
PGR only
events.
Complete.
5 PGR only events delivered.
4 Family Friendly events delivered.
Student-led
opportunities
for students to
meet and
bulld
friendships.
Connecllons
Target: 95°/0
75010
Community Target 25%
29Q
136 Private tenants, 225 Halls Tenants = 361 Housed
Support all
our students
to have a
great
accommodati
on experience
In
Huddersfield
334 Students
Housed. 10%
increase lo
incom6
generated.
The first year as the University's Approved Accommodation Service
has been positive, with HudLels reaching more students and
establishin9 trusted relationships with university staff. Refreshed
brand guidelines and a new CRM system & webpage will launch
over the summer.
YTD Sales achieved £145,327 compared lo a budgeted £99,518
{+£45.810)
Actively
challenge the
climate crisis
to create a
Sustainability
Action Plan
(Green Impact
self-evaluation
Priority a￿8$ agreed by Stsstainabilily Committee.
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more
Sustainable
future.
to delem)ine
prioiity a￿a$)
10 students have signed up to the Sustainability Society
Sustainability now referenced in everyone's new Job Profile.
West Yorkshire
Fair Work
Charter
Member
West Yorkshire Fair Work Charter Certificate renewed March 2025.
Ours Is a
culture whore
everyone Is
Innovative
and creative,
strives to be
the best and
most
Importantly
loves what
thay do.
Staff will carry
out 200
collective
hours of
volunteering
Sustainable
projectslchariti
es
90.5 hours of staff volunteer time.
New'Green Reward5' initiative launched by the university should
help improve the recording of this KPI in fulur8 years.
Menopause
Workplace
Pledge
Signalories
Complete.
All core staff attended 'making menopause worK training in June
2025, as part of our wellbeing-themed Away Day.
Demonstrate the value-added
by measuring SU engagement
against UOH metrl¢s
{continuation, completion,
attalnmenl progresslon)
Inltial data provided by the university.
Research underway, and project group established to plan 100 year
celebrations. There is potential for National Lottery funding lo
support this project.
100 Years of HSU research and
identtfy key stskeholders
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Huddersfield Students, Union.
2024-
20ZI
Our Strategie Plan for making student life better.
llll
sld•.lJ b• Iby knl
l•U• ildMI W￿..
Stvd•bl%'
B¥ 202? we will achi&ve'ExcelleTht' in 215 areas of the Quality StudeTht5' Union Framewtswk:
Financial review
HSU has made an overall surplus of £105k this year. Total income of £2.44m with expenditure of £2.33m.
HSU ha5 continued to benefit from the support of the University.. this year the annual grant was £1.26m which
was the same as the previous year. The £2.33m expenditure went on a range of sludenl benefits detailed
within the financial slalements. HSU aims lo work within its budget which planned a Deficit of 29.8k before
reserves expenditure, a deficit budget of £92k after reserves expenditure.
Under the requirements of FRS 102 the Union has recogni8ed in the accounts its share of the pension liability
for the Students, Union Superannuation Scheme. The inclusion of the pension scheme liability has resulted
in a negative penS￿n fund of £1,073.250 (£2024.. £1,166.931). The Trustees, assumption 15 that the Union
will continue to make contributions lo the pension scheme such that, after 10 years, the deficit will be
reimbursed,. as such the trustees ¢on5ider that this does not impact on the going concern of Ihe Union.
Going Concern
HSU have an excellent relationship with the University of Hudder5field, and the annual block grant helps HSU
continue its activities and services for students. HSU appreciate5 this ongoing support, which is crucial for
meeting ils objects. With strong cash reserves and support from the University. Trustees are reassured about
HSU'S financial stability. HSU manages its finances well. and the Union Development Committee and the
Board of Trustees will monitor HSU'S financial perfomiance to take necessary actions if needed. Forecasts
show that HSU has enough reserves and cash lo operate for 12 months from the approval of these accounts.
Therefore, the Trustees believe it is appropriate lo prepare the accounts on a going concern basis.
FIf￿r S.Étknd•M C•n*pA*
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Reserves Policy
The Trustees have reviewed HSU'S reserves requiremènts and s8t a res8rv8 and budgeting policy
summarised below.
Budgeting and Reserve8 Policy Obj8CtNes:
> HSU viill hdd fijnds In reserve that are sulficient to cover the organisation's immediate CC>sts in the
event of a sudden reduction in income. These are operating reserves and would only be accessed
in an event a$ described above. HSU detem)ines thal this level of funds is wilhin the range £280,000
- £420,0()J. HSU will never hold reserves lower than the baseline in this range.
> Each finanrial year, Truslees will consider the tolal ol reserves held by HSU and detemine whether
any surplus funds generated during the year should be allocated to a deslgnated fund andl or retained
in the reserve fund.
> Surplus generated during any financial year shall be allocated to a designated fund and oxpendtture
planned,. unless such surplus is needèd to retain the above level of reserves funds.
£420.CrfJO
Operating Reserves: HSU will hold funds within the range of £280.000￿420,000 to cover
the organisation's immediate costs in the event of a sudden reduction in income.
£47,317
Capital Fund - Fixed Assets: £47,316 is to be released over a period of up to 3 years for
the retail outlel after the current infrastructure, fixtures and fittin s Whe￿ u
ated.
Capital Refvrbishment Reserve: £150,000 over the course of the strategic period, wrth a
view to s
ndin the remainin amount on refurbishmentworks in the 2027128 financial ear.
£50,¢￿1
£20,000
Strategic Planning: £50,000 over the course of the strategic period. on projects approved
b Board. £20,000 remainin
Commercial Projects Fund: £10,000 over the course of the remaining strategic period to
'seed-fund' or otherwise investi
ate new commercial o
ortunities for income
eneration.
£10,OOQ
£10.000
IT Equlpment replacement: £10.000 to be invested in updating future IT equipment over th
exi
ear.
The free reserves for the Group at 31 July 2025 were £281,82312024.' £211,839 restated). Free reserves
are unrestricted funds not lied up in fixed assets and which have not already been designated for a particular
purposè. This assumes an additional £420k of reserves are available for HSU. The trustees will review the
slrategic plan aTrd allocate these funds by designating them for strategi¢ proje￿$ in 2025126. Net current
assets are £803.115 indicating we are operating in line with our established policies. This level falls within
our minimum requirement of having three months, activity costs In hand to cope with any unexpected
downturn in funding or addilional calls on our resources without immediately curtailing aGtivities. Their aim is
to finish 2025126 on breakeven or a small deficit before designated funds expenditure.
AffiliatTrons
HSU has hvo corporate affiliations.. these include the National Union of Students £26,324 {2024'. £29,477)
and the British Universities and Colleges Sports £5.28212024'. £5,350). Individual clubs and societies affiliate
to their national governing body or membership organisation. Thesè are reviewed and approved by the
Sludent Activities Committee. No donations were made during the year to any extemal instilutions.
q¢rJ.Siud*ni¢*ntp*l
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Custodian Activities. Clubs, and Societies, Funds and the Annual RAG
HSU acts as custodian for funds raised by Ihe student dubs and societies. individual ¢lubs and soc¢ety fund's
balances are carried forward into the next financial year.
At 31 July 2025 £21.6k12024'. £23.4k) was cartied forward on behalf of sports dubs and £33.6k12024.'
£21.9k) was carried fotward on behalf of societies.
HSU is custodian ofthe annual RAG proceeds from fuThYraising events. These are organised by the students
under HSU'5 auspices for distribution to the intended charities.
Funds raised by this yeals FIAG amounted to £7.97612024. £8.908> out ofwhiGh was distributed to the major
charity nominated by the RAG Committee, leaving a balance of £3,146.37 (2024.. £7221 in hand for next
year's RAG activities.
Board of Trustees. Responsibilities
The Trustees (who are also directors of Ihe company for the purposes cf Company law) are respoll5ible for
preparing the Trustees, Report and the financial statements in accordance with applicable law and United
Kingdom Accounting Standard5 (United Kingdom Generally Accepted Accounting Practice).
Company law requires the Trustees to prepare financial slalements for each financial year. Under company
law the Iruslees must not approve the financial statement unless they are satisfied that they give a true and
fair view of the slale of affairs of the Union and of the incoming resources and application of resources of the
Union for that period. In preparing these financial statements. the Trustees are required to..
> Select suitable accounting policies and then apply them consistently,.
> Observe the methods and principles in the Charities SORP IFRS 102).,
> Make judgements and accounting estirnates that are reasonable and prudent-
> Stale whether applicable UK Accounting Standards (FR 1021 have been followed.,
> Prepare the finanGial statements on the going concern basis unless it is inappropriate to presume that
the Union will continue in operation.
The Trustees a￿ responsible for keeping adequate a¢counting reGords that disclose with reasonable
ac¢ura¢y at any time the financial position of the Union and enable them to ensure that the financial
statements comply with the Companies Act 2006. They are also responsible lor safeguarding the assets of
the Union and hence for taking reasonable steps lor the prevention and detection of fraud and other
irregularities.
The Trustees are responsible for the maintenance and integrity of the Union and financial information
included on the Union's website. Legislation in the United Kingdom governing the preparation and
dissemination of financial statements may differ from legislation in other jurisdictions.
Disclosure of Information to Auditors
In so far as the Trustees are aware..
There is no relevanl audil information of which the charttable group's auditor 15 unaware- and
The Trustees have taken all the steps that they ought to have taken to make themselves aware of
any relevant audit information and to establish that the auditor is aware of that infomiation.
HDI JO
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Auditors
The auditor. Knox Cropper, has irKJicated thelr willingness to continue in office. The
designated Trustees will propose a motion reappointing the auditor at a meeting of thg
Twstees.
This report was approved by the Trustees on
arKI signed on their behalf by=
ÉL,
Freya Askwtlh-martin
President
2-11,,I£Brs
Ir of Board of T
stees &71 [LolS
If
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Independent Auditors, Report to the Members and Trustees of
University of Huddersfield Students, Union
Opinion
We have audited the financial slalemenls of University of Huddersfield Students, Union {Ihe
'charitable company,) and its subsidiary {'Ihe group,) for the year ended 31 July 2025 which
comprise the Consolidated Statement of Financial Activities (including the Income and
Expenditure Account). the Consolidgted and Parent Charity Balance Sheets. Consolidated
Statement of Cash Flows and the notes to the financial slatements, including a summary of
significant accounting policies. The financial reporting frameworf( that has been applied in
their preparation is applicable law and United Kingdom Accounting Standard5 (United
Kingdom Generally A¢¢epted Accounting Practice), including Financial Reporting Standard
102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland..
In our opinion the financial statements-.
give a true and falr view of th6 State of the group's the tharitable company's affairs
as at 31 July 2Q25 and ofthe group's income and expenditure, for the year then ended..
have been properly prepared in accordan¢e with United Kingdom Generally Accepted
Accounting Practice, including Financial Reporting Standard 102 'The Financial
Reporting Standard applicable in the UK Republic of Ireland,; and
have been prepared in accordance with the requirements of the Companies Acl 2006.
Basis for opinion
We conducted our audit in accordance with Intemalional Standards on Auditing {UK) {ISAs
(UK)) and applicable law. Our responsibilities under those standards are further described in
the Auditorfs responsibilities for Ihe audil of the financial slatement5 section of our report. We
are independent of the group in accordance with the elhical requirements Ihal are relevant to
our audit of the financial statements in the UK. including the FRC'S Ethical Standard, and we
have fulfilled our other ethical responsibilities in accordance with these requirements. We
believe that the audit eviden￿ we have obtained is sufficient and appropriate to provide a
basis for our opinion.
Conclusions relating to going cOn￿M
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 slalements 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 signrficant doubt on
the group and charitable company's ability to continue as a going concem for a period of at
leasl twelve months from when the financial stalemenls are authorised for issue.
Our responsibilities and the responsibilitiés of the Tru$leg$ with respect to going concern are
described in the relevant sections of this report.
Other information
The other inform81ion comprises the information included in the Trustees, Report, other than
the financial statements and our auditor's report Ihereon. The Trustees are responsible for the
other information.
Our opinion on the financial slalemenls does not cover the other information and. except lo
the extent otherwise explicitly staled in our report, we do not express any form of assurance
onclusion thereon.
T.T.T-
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Our responsibility is to read the other infomiation and, in doing 50, consider whether the other
infonnation is materially inconsistent with the financial statements. or our kno￿edge obtained
in the aLKlit or otherwise apFe8rs to be materially mk8stated. If we identify such material
inconsistencies or apparenl material misstatements. we are required to detemiine whether
there is a material misstatemenl in the financial statements or a material misstatement of the
other infomiation. If, based on Ihe work we have perforned, we conclude that there is a
material misststement of this other inf¢)miation, we are required to report that fact. We have
nothing to report in this regard.
Opinion on other n￿tter5 prescribed by the Companies Act 2006
In our opinlon, based on the work undertaken in the course of the audit:
the infom)ation given in the Trustaes. Report, which i￿ludeS the directors, report
prepared for the purposès of company law. for the finan￿al yearfor which the financial
statements are prepar8d is consistent with the financial stalements. and
the directors, report, included within the Trustees. Report. has been prepared in
a¢cordance with applicable legal requirements.
Matters on which we are Required to Report by Exception
In the light of the knowledge and understanding of the group and tha charitable company and
tts environment obtained in the course of the audit, we have not identified material
misstatements in the Trustèes, Report.
We have nothing to report in respect of the following matters in relation to whlch the
Companies Act 2006 requires us to report to you rf, in our opinion:
PrO￿r and adequate accounting record$ have nol been kept, or returns adequate for
ovr audit have not been reGeived from branches not V161ted by us,. or
The financial statements are not in agreement with the accounting records and returns.,
or
Certain disclosures of Trustees, remuneration specified by law are not made., or
We have not received all the infomiation and explanations we require for our audit: or
The Trustees were not enlitled to prepare the financial slatements in accordan￿ with
the small companies regime and tske advantage of the small companies, exemptions
in preparing the Truslee5' Report and from requirement to wepare 8 strategic
report.
Responsibilities of Trustees
As explained more fully in the Stalemenl of Trustees, Responslbllilies, the Truslees (who are
also the directors of the tharitable company for the purposes of company law) are responsible
for the preparation of the financial statements and for being satisfied that they give a true and
fair view, and for such internal control as the Trustees detemiine is necessary to enable the
preparation of financial slatement5 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 charitable company's abiltty to continue as a going concern. disdosing, as applicable.
matters related to going concern and using the going concem basis of aC￿untIng unless the
Tnjslees either intend to liquidate the group or parent charity or to cease OFerations, or have
no realistic allemative but to do so.
Auditor's responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whethér the financial statemants as
whole are free from material misstatement, whether due to fraud or error. and lo issue an
audilorfs report that includes our opinion. Reasonable assurance 18 a high level of assurance
HDist44
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191Page
but is not a guarantee that an audit conducled in accordance wilh ISA5 (UK) will always detect
a material misstalemenl when it exlsts. Misstatements can arise from fraud or erfor 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 basls of these financial statements.
lffegularilie5, including fraud, are instances of non-compliance with laws and regulations. We
design procedures in line with our re5ponsibililies, outlined above, to detect material
misstatements in re$ped of irregularilie$, including fraud. The extent to which our procedures
are capable of detecting irregularities, inoluding fraud is detailed below:
The group is required to comply with charity law and, based on our knowledge of their
activities, we identified that the legal requirement to acGuralely aGGount for restricted
fund8 was of key significan￿.
We gained an understanding of how the group complied wrth their legal and regulatory
framework. including the requir8ménl to properly account for restricted funds, through
discussions with management and 8 review of the docum6nted pollcies. procedures
and controls.
The audit team, which is experienced in Ihe audit of charities, considered the group's
susceplibilty to material misstatement and how fraud may c¢¢ur. Our considerations
included the risk of management override.
Our approach wa$ to Check that all restricted income was properly identified and
separately axounted for and to ensure that only valid and appropriate expenditure
was charged lo restricted funds. This included reviewing joumal adjustmenls and
unusual transactions.
A further description of our responsibilitie5 for the audit of the financial statements is located
at
the
Financial
Reporting
Council's
('FRC's°)
website
at-.
https'.lkn.frc.org.uklaudilorsresponsibilities. This description fomis part of our auditor's
report.
Use of our report
Thi5 report is made solely to the charitable company's members, as a body, in accordance
with Chapler 3 of Part 16 ofthe Companies Act 2006. Our audit work has been undertaken so
that we might state lo the charitable company's Trustees those matters we are required to
state to them in an auditors, report and for no other purpose. To the fullest exlent permitted by
law, we do not accept or assume responsibility to anyone other than the charitable company
and the charitable company's Trustees as a body, for our audit work, for this report, or for the
opinions we have formed.
Stephen Anderson (Senior Statutory Auditor)
For and on behalf of Knox Cropper LLP {Statulory Auditor}
65 Leadenhall Street
London
EC3A 2AD
Date.. li O+(e•nWf 202
TrIDiJL
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University of Huddersfield Students, Union
Consolidated Statement of Financial Activities
(Including the Income and Expenditure Accounl)
For the year ended 31 July 2025
Total
Funds
2024
RESTATED
Totsl
Funds
2025
Note Unrestricted
Funds
Restrictèd
Funds
INCOME AND EXPENDITURE
Income trom:
Donations and grants
Charitable activities
Other trading activities
Investment income
1,053.480
921,001
145,328
45,432
204.176
88,380
1.257,636
989,381
145,328
45,432
1,373,020
1.077,189
97,557
47,787
Total Income
2,165,221
272,556
2.437.777
2.595.553
Expenditure upon:
Raising funds
Charitable activities
113,566
1,956,656
113,566
2,219,248
88,420
2.619,086
262,592
Total Expendllure
2,070.222
262.592
2 332,814
2 707,506
Taxation
(2,460)
Net Incomel(Expendlture)
Transfers between funds
20
Nel Movement In funds for the year
94,999
9,964
104.963
(114,413)
94.999
9.964
104,963
(114,413)
Reconclllation of funds
As previously reported
Pnor year adjustment
(281.7951
(281,795)
25
As restated
Net funds at 31 July 2025
281795
186 796
45.329
236.466
131503
122.050
236 463
The notes on pages 23 to 41 fom part of these financial statefflents.
All activities derived from continuing operalions in each of the above financial periods.
Al recognised gains or losses are included in the above Statement of Financial Activities.
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University of Huddersfield Students, Union
Consolidated Balance Sheets
For the year ended 31 July 2025
2025
GROUP
2024
GROUP
RESTATED
2025
CHARITY
2024
CHARITY
RESTATED
Note8
Non-current A$8ets
Fixed assels
Investments
14
15
47,317
81,650
47,317
loo
47.417
81,650
100
81,750
47,317
81,650
Current Assets
Stock
Debtors
Cash at bank and in hand
16
17
37,112
29,138
1,284,617
1.330.867
40.773
25,691
1,173,273
1.239.737
37,112
77,494
1,147.551
1,262.157
40,773
73,276
1.098,688
1.212,737
Creditors: amounts falling due
within one year
18
1527,7571
(429,470)
1502,949)
(414,6111
Net current assets
803,110
810.267
759,208
798,126
Net assets less current Ilabllltles
850 427
891,917
805 625
879,876
Creditors: amounts falling due In
more than one year
19
{981.930)
(1.128.380)
1980.930)
{1,128,380)
Net assets
131,503
236,463
175,305
248 504
Charity funds
Restricted funds
Designated funds
Unrestricted lunds
20
20
20
55,293
(515,933>
329,137
131,503
45.329
<575,281 >
293,489
236 463
55.293
{515,9331
285,335
175305
45,329
1575,281)
281448
248,504
The notes on pages 23 to 41 form part of thèse financial sl8tementg.
The financial statements were approved by the Board and aulhorised for issue on
and signed on its behalf by:
2025
Company Number: 13435053
Charity Numbor: 1197170
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University of Huddersfield Students, Union
Consolidated Cashflow Statement
For the year ended 31 July 2025
Year Ended
31 July 2025
Year Ended
31 July 2024
Nole$
Cashllows {used Invprovlded by oporating
acliviti•s
Net cash (used inyprovided by op@rating activities
47,995
65.767
Cashflows (used invprovidad by investlng
a¢tlvltlÈs
Investment income
Acquisition of tangible fixed assets
Net cash (used inyprovided by investirKJ activthes
45,432
2.083
43.349
47,787
1.125
46 662
14
Net change in cash and cash equivalents in the period
91,344
19,105
Reconciliatlon of net cash fl¢)w to movement In net cash
Movemenl in net ¢ash in the period
91,344
(19.105)
Nel cash and cash equivalents brought fomard
1.173.273
1.192,378
Net ¢ash and cash equivalents carried fomard
1.264.617
1,173,273
Cash and ¢ash equlvalents at the end of the year
¢omprise".
Cash at bank and in hand
1,264,617
1,264.617
1,173,273
1.173.273
The charity has not provided an analysis of changes in net debt as it does not have any long-term
financing arrangements.
Reconclllatlon of net expenditure to net cash Ilow from operatlng activities
2025
2024
Net incomelqexpgnditure) a¥ pèr statemont of financial
activlties
Adjustments for.
Depreciation charge
Investment income
Ilncrease)Idecrease in stocks
Ilncrease)Ideciease in debtors
Increaselldecrease) in creditors
Increaselldecrease) in pension provision
Net cash used in operaling a¢livities
104,963
(114.413)
36.417
(45.432)
3,661
(3,4471
{93,6811
45.514
47,995
39,924
(47.787)
314
584
(59.951)
115,562
65.767
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231Page
University of Huddersfield Students, Union
Notes to the Financial Statements
For the year ended 31 July 2025
1 Accounting Policies
Ba3is of A¢¢ounting
The financial statements have been prepared in accordance with Accounting and Reporting by Charities..
Statement of Recommended Practice ap￿1¢able to charities preparing their financial statements in
accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS102
second edition - effective from January 2019) and the Companies Act 2006. The financial statements a
rounded to the nearest £.
University of Huddersfield Students, Union meets the definition of a Public Benefit Entity under FRS102.
A$set$ and liabilities are initially recognised at historical costs or transaction value unless otherwise staled
in the relevant accounting policy.
There were no significant estimates or judgements made by management in preparing these financial
statements.
Consolldatlon
These financial stalements consolidate the results. assets and liabilities of Unlversity of Huddersfield
Students, Union and ils wholly owned trading subsidiary Huddersfield Student5, Union Lettings Ltd
(HudLets) on a line-by-line basis. No separate Statement of Financial Activilies or Income & Expenditure
Account is presented for the Charity because it has taken advantage of the exemption allowed under
section 408 of the Companies Act 2006.
Going Concern
The Trustees have assessed whether the use of the going concern basis is appropriate and have
considered possible events or conditions thal might cast signffjicant doubl on the ability of the company to
continue as a going Goncern. In particular the Trustees have considered the companls foracast and
projections and have taken into account the current economi¢ climale on all of ils aclivilies and investment
income. The Trustees believe the company has adequale resources to continue in operation for at least
twelve months from the approval of the financial statements. The company therefore continues to adopt
the going concern basis in preparing ils financial statements.
Income
All income is recognised once the group has entitlement to the income, it is probable that the income will
be re￿ived, and the amount of income receivable can be measured reliably.
Expendlture
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 8mounl
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 supporl costs involved in undertaking e8ch aclivily. Shared costs which contribute
to more than one aclivity and support costs which are not attributable to a single aclivily are apportioned
belween those aclivilies on a basis consistent with the use of resources. Central staff costs are allocated
on the basis of time spent.
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Intanglble Fixed A55ets and Amortlsation
Inlangible assets costing £1,000 or more are capitalised and recognised when future economic tenefits
are probable and the cost or value of the asset can be measured reliably. Intangible assets are initially
recognised al cost and are subsequently rneasured at cost net of amortisation a￿1 any provision for
impaiment. Current amortisation rates are as fcAIows.'
Website Developmgnt
20% straight line
Tanglblè Flxed A880ts and depreciation
All assets costing more than £1,000 are capitalised. Tangible fixed assets are carried at cost or valuation.
not of depreciation and any provision for impairment. Depreciation is provided at rate$ calculated to write
off the cost or valuation of fixed a$sets, less their estimated residual value, over their expected useful lives
on the following bases..
Fumilure and Fittings
Office equlpment
20% straight line
33% straight line
Investments
Investments in subsidiaries are valued at cost less provision for impaiment.
Stocks
Stocks are valued al the lower of cost and net realisable value after makin9 due allowance for obsolet8
and slow-moving stocks. Cost includes all direct costs and an appropriate portion of fixed and variable
ovetheads.
Debtors
Trade and olher debtor6 are recognised al the settlement amount after any tradè discount offered.
Prepayments are valued at the amounl prepaid net of any trade discounts due.
Cash at bank and in hand
Cash at bank and in hand includes cash and short lemi highly liquid investments with a short maturity of
three months or less from the date of acquisition cr opening of the depcsil or similar account.
Liabllltles and provlslons
Liabilities are recognised when there is an obligation at Ihe Balance Sheet date as a resu￿ of a past event,
It Is probable that a transfer of economic benefft will be required in a settlement and the amount of the
settlement can be estimated reliably. Liabilities are recognised at the amounl that the Group anticipates it
will pay to settle the debt or the amount it has received as advanced payments for the goods or setvices
it must provide.
Provisions are measured at the best estimate of the amounts required to settle the obligation. INhe￿ the
effect of the time value of money is material, the provision is bgsed on the present value ofthose amounts,
discounted at the pre-tax discount rate thal reflects the risks specifiG to the liability. The unwinding of the
discount is recognised wrthin interest payable and similar charges.
Operating leases
Rentals under operating leases are charged to the Statement of Financial Activities incorporating Income
and Expenditure Account on a straighl line basis over the lease term.
Pensions
The Union participates in the Students, Unign Superannuation Scheme, a defined benefft scheme which
is externally funded and contracted out of the Stale Second Pension. The fund is valued al least every
three years by a professionally qualrfied independent actuary with the rat85 of contribution payable being
determined by the trustees on the advice of the actuary. The scheme operates as a pooted arrangement,
I￿?0*¢
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with contributions paid at a centrally agreed rate. As a consequence, no Share of the underfying assets
and liabilities can be directly attributed lo the Union. Under the tem5 of FRS102, in these circumstances
contributions are accounted for as if the Scheme were a defined contribution scheme based on actual
contributions paid through the year. The present value of the Union's deficit contribution ig recc¥Jnised as
a liability In accordance with the SORP (FRS102).
The Union also operates a defined Contribution scheme lor the benefit of its employees. Contributions
payable are charged to the Statement of Financial Activities in the year they are payable.
Fund accounting
General funds are unreslricted 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.
Designated funds comprise unreslricted funds that have been set aside by the Trustees for particular
PUTpo$es. The aim and use of each designated fvnd is set out in the notes lo the financial statements.
Restricted funds are funds which a￿ to be used in accordance with specific restrictions imposed by donors
or which have been raised by the Group for particular purposes. The costs of raising and administering
such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the
notes to the financial slalements.
Criti¢g1 a¢¢ountlng estimates and areas of judgement
Estimates and judgements are continually evalu8ted and are based on historical experience and other
factors, including expectalions of future events Ihat are believed to be reasonable under the
circumstances.
The Group makes estimales and assumptions conceming the fuluie. The resulting accounting eslimates
and assumptions will, by definition, seldom equal the related actual results. The estimates and
assumptions that have a significant risk of causing a material adjustments to the carrying amounts of
assets and liabilities within the next financial year are discussed below.
Pension deficit contributSon
The charity has entered into a commitment to provide deficit funding to the Students, Union
Superannuation Pension Scheme, of which it is a contributing employer. Under FRS102, the
present value of the commitment is reGognised. The calculation of the present value of Ihe
commitment is subject to an assumption of the discount rate. The discount rate is determined
by reference to market yields at the reporting date on hlgh quality corporate bonds.
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Unlo

261Page
2 INCOME FROM DONATIONS AND GRANTS
Unrostrl¢ted
Funds
Restricted
Funds
Total
2025
Totsl
2024
Grants
University block grant
University grant for rent
University support and recharges
Tolal Income from Donations and Grants
1,053,460
1,053,480
204.176
1,126,565
204,176
42,279
1.373 020
204,176
1,053 460
204,176
1,257.636
Incixne from donations and grants 2024
1,168.844
204,176
1.373,020
3 INCOME FROM CHARrrABLE ACTIVITIES
Unrestrlcted
Fund5
Restrlctsd
Fund5
Total
2026
Total
2024
Fresher's week and refreshers
NUS Totum
Relail op&ralion5
Sports and Societies
Other trading operations
Total Income from charftable actlvllle$
38.711
38,711
32,365
1,579
874,452
155,350
753,969
g6.634
31,687
921,001
753,969
165,014
31,687
989,381
68,380
68,380
1077 189
Income from charitable activities 2024
1,￿6,551
70,638
1.077,189
4 OTHER TRADING ACTIVITIES
Unrestricted
Funds
Restricted
Funds
Totsl
2025
Total
2024
HudLets
145 328
145,328
97,557
Other Irdding activities 2024
97,557
5 INVESTMENT INCOME
Unrestricted
Funds
Re5tsicled
Funds
Total
2025
Total
2024
Investsnenl In¢ome
45,432
45,432
Investment income 2024
47,787
47.787
Students.
Vnlon

271Page
6 EXPENDITURE ON RAISING FUNDS:
2026
2024
Staff costs
Other direct Costs
Support costs (Note 8)
80.246
1,795
31.525
113,566
69,747
18,673
88,420
These costs ielate to HudLets for the year ended July 2025.
7 EXPENDITURE ON CHARITABLE ACTIVITIES:
Staff
costs
other
dlroct
costs
Support
costs
(Note 8
Total
2025
Totsl
2024
Advice Centre
Student Communications
Entertainment
Student Representations
Student Acllvllies
Shop
Total Expenditure
103,840
133.589
35.797
218.174
133.175
131 513
756,088
2,262
15,715
14.564
41,692
288,371
535,447
898,051
113,022
56,511
84,766
113.022
113,022
84,766
565,109
219.124
205.815
135.127
372,888
534,568
751,726
2.219,248
359,766
209,034
136,220
371,759
568,750
973,557
2 619,086
Comparative Resources Expended
Slaff
costs
Other
direct
costs
Support
costs
(Nole 81
Total
2024
Advice Centre
Student Communications
Entertainment
Studertrl Representations
Student Activities
Shop
Total Expenditure
98,845
126.604
35,824
139.656
123.848
133 026
657.804
134,222
12,042
8,891
70,210
268,931
126,699
70.388
91,505
161,893
175,971
359,766
209.034
136,220
371,759
568,750
g73,557
2.619 086
1.257.398
703.884
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291Page
9 NET MOVEMENT IN FUNDS
This is stated after chargiry-
2025
2024
Depreciation of fixed assets
Auditors, remuneration..
Audit
other 3etvices
36,417
39,924
13.000
2,500
15,525
1,575
10 STAFF COSTS AND NUMBERS
Staff costs were as follows..
Group
2025
Group
2024
Charity
2025
Charity
2024
Salaries and Wages
Social Security Costs
Pension Costs
972,268
76,899
35,892
1085,059
1,011,009
82,602
43,177
1136788
892,021
76,899
35,893
1,004,813
941,262
82,602
43,177
1067 041
Employees whose emoluments exceeded £60,000 per annum".
2025
2024
£70,0￿- £79,999
The key management personnel of the charitable company comprise the Truste8s, including the
sabbatical officers who are remunerated, and the Senior Management. The total employee benefits of
the Group's key management personnel were £217,701 12024.. £268,859). The Trustees were not
remunerated during the year or the prior period.
2025
55
2024
65
Average staff during the year
11 TRUSTEE REMUNERATION AND EXPENSES
During the year, expenses of £1,665 {2024'. £2721 were reimbursed to Trustees for governance costs.
The four sabbatical roles each incurred a salary charge as authorised in the Sludents, Union governing
document, for the representation, campaigning and support work they undertake as dislincl from their
trustee responsibilities. The work includes voicing student opinlon within the University and local
community, defending and extending the rights of students through petitions, discussions wth MPS and
also organising and supporting student volunteers and Service provision for them. Details of the
sabbatical officers are available on Page 1 of the financial statements.
Remuneration is paid lo each sabbatical officer for an annual lem which runs to 30 June. Should an
officer leave part way through the year, the remuneration is paid on a pro rala basis. New sabbatical
officers also receive an additional 2 weeks pay lor training. For the yeaf lo 30 June 2025 and 20 June
2024 each officer re¢eived annual remuneration of £23,764. The aggregate amount payable under
such contracts in the year ended 31 July 2025 is £97.44412024'. £100,302).
io
Stud•nis

30IP8ge
12 PENSIONS
The Union participated in th8 Students, Union Superannuation Scheme, vthich is a defined benefit
sGheme whose membership consists of employees of sludenls. unions and related bodies throughout
the country. Benefrts in respect of seNice up to 30th September 2003 are acmied on a ￿nal salary.
basis, with benefrts in respect of servlce from 1st October2003 accruing on a Career Averag8 Revalued
Earnings (CARE) basis. With effect from 30th September 2011 the scheme closed to future accrual.
The mosl recent valuation ofthe scheme wag carried out as at 30th June 2022, with the report published
In mid-2023 showed that Ihe market value of the scheme's assets was £106.7m. These assets
represented 44% ofthe value of benefrts that had aGcrued to members after allowing forexpected future
increases in eamings. The defi¢tt on an ongoing funding basis amounted to £136.6m.
The 2022 valuation recommended a contribution requirement by each Union expressed in monetsry
tenns intended to dear the on*oing funding deficit over a period of 13 years from October 2023 (to
May 2037) and will Increase by 5% each year. These conlributions also include an allowance for cost
of the on-going admini$tralive and operational expenses of running the scheme. These rates applied
with effect from 1 October 2023. In accordance with FRS 102 provision has been made for the
discounled value of contributions payable. Surpluses and deficits which arise at futu￿ valuations will
also impact on the Unions future contribution commitment. In addition to the above contributions, the
Union also pays its share of the schemes levy to the Penslon PrOtect￿n Fund, as per Note 8. The
discount rate applied was 5.49A (2024.. 4.5%).
The net present value of the contributions that University of Huddersfield Students, Union have agreed
to pay over the next 12 years represents a liability at the year-end of £1,073,250 {2024'. £1.166,931).
The decrease in liability is due to the monthly paymenls made towards the funding deficit being more
than the unwinding of the discount for the last year. The total ¢onlributions paid into the scheme in
respect oflhe funding defiGit forthe period ended 31st July 2024 amounted to £91,66812024.' £87,303).
The Union now participates in the NUSPS Pension Scheme, a defined contribution scheme. The lotal
contributicns paid into this scheme by the Union in respect of eligible employees for the year endad
31 st Ju5y 2025 amounled to £35,892 (2024: £43.177); see note 9.
13 INTANGIBLE FIXED ASSETS- GROUP AND CHARITY
Website
Dev•loprnent
Cosl
At 1 August 2024
At 31 July 2025
6,600
6,600
Amortisation
At 1 August 2024
Al 31 July 2025
6.600
Net Book Value
Al 31 July 2025
Al 31 July 2024
StsJd•Trl•'
u￿1*

311Page
14 TANGIBLE FIXED ASSETS
GROUP
Fixtures
and
Fittlngs
Offl¢e
Equipment
Totsl
Cost
Al 1 August 2024
Additions
At 31 July 2025
130,756
2,083
132.839
116.548
247,304
2,083
249.387
116.548
Depreclation
At 1 August 2024
Charge forthe year
At 31 July 2025
86.798
19.S46
106 343
78.856
16,871
165,654
36.417
202,070
Net Book Value
At 31 July 2025
At 31 July 2024
47,317
81,650
37.692
CHARITY
Flxturès
and
Fittings
Office
Equipment
Totsl
Cost
At 1 August 2024
Additions
At 31 July 2025
120,010
2,083
122 093
112,986
232.996
2.083
235 079
112.986
Deprecialion
Al 1 August 2024
Charge for the year
At 31 July 2025
76,052
75.294
16.871
151,346
36,417
187,763
95,598
Net Book Value
At 31 July 2025
At 31 July 2024
47317
81650
43,958
Unl•

321Page
15 FIXED ASSET INVESTIIETrirs
GROUP
CHARITY
2025
2024
2025
2024
Imiestment in HudLel$
100
100
100
1¢X)
The wholly owed trading subsidiary, Huddersfield Students, Union Lettings Limited, is incorporated in
England and Wales with Company Number 091D8828. HudLets provides support and advice to
students on lettings. The charfty owns the entire issued share capital of100 ordinary shares of £1 eaGh.
A summary of the trading resuts for the year ended 31 July 2025 is shown below.
Year ending
Year
31 July 2025
ending
Juty
31
2024
INCOME STATEMENT
Turnover
Expenditure
Profit on ordlnary activili•s
145,328
113,566
99 972
98.010
1,962
BALANCE SHEET
Current assets
Creditors.. amounts due within one year
Total assets less current Ilabllltles
118.710
74,808
43.902
77,000
64.859
12,141
Capftal and Reserves
Called up share capital
Retained profit and loss a¢¢ount
Shareholders, funds
100
43,802
43.902
100
12,041
12,141
16 STOCKS
GROUP
CHARITY
2024
2025
2024
2025
Finished goods and goods for resale
37,112
37,112
40,773
40,773
37,112
37.112
40.773
40,773
17 DEBTORS
GROUP
CHARITY
2025
2025
2024
2024
Trade debtors
Amount8 owed by group undertakings
Other debtors
Prepayments and accrued income
9.780
2.560
9.780
50.000
4,466
13.248
77,494
50.000
5.582
16.030
73.276
4,466
14,892
29,138
5,682
17.449
25,691
5tud•nt%'
Un￿ft

331Page
18 CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
GROUP
CHARITY
2025
2024
2025
2024
Trade creditors
SUSS defined benefil scheme Ilability
Other taxation and social security
Olhgr creditors
Accruals and deferred income
62,382
91,320
27,030
25,285
321.740
527 757
76,606
38,551
20.835
23.801
269 677
429,470
61,263
91.320
26.157
13,511
310.698
502 949
76,441
38,551
19,501
20,439
259,679
414,611
DEFERRED INCQME
Deferred income at 1 August 2024
ReSoUr￿S deferred during the year
Amounts released from prior periods
Deferred income at 31 July 2025
234,542
279.661
234,542
279 661
298.297
234,542
298,297
234.542
224,544
268,620
224,544)_
268,620
286,841
224,544
286,841
224.544
19 CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
GROUP
CHARITY
2025
2024
2025
2024
SUSS defined benefit scheme liability
981 930
981.930
1.128380
1 128,380
981,930
981,930
1,128 380
1,128,380

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391Page
21 ANALYSIS OF NET ASSETS BETWEEN FUNDS
Unrestrlcted Designated Restricted
Fund$
Funds
Fund8
T¢)tal
2025
Non-Gurrent assets
Net current assets
Creditors.. due in moro than one year
47,317
418.680
981.9301
515 933
47,317
803,110
981,930
131 503
329,137
55.293
329.137
55,293
ANALYSIS OF NET ASSETS BETWEEN FUNDS COMPARATIVE
Unrestrlcted Designated
Funds
Funds
Restrlcted
Funds
Totsl
2025
Non-current assets
Net current assets
Creditors: duè in more Ihan one year
81.650
471,449
J1.128.380
575.281
81.650
810.267
1,128,380
236,463
293.489
45,329
293,489
45,329
22 SURPLUS FOR THE FINANCIAL YEAR
As pemitted by section 408 Companies Act 2006. University of Huddersfield Students, Union's individual
Statement of Financial Activities has not been Included in these financial statements. The surplus for the
year is made up as follows..
2025
2024
Univelsity of Huddersfield Students, Union's individual surplus for the financial year
73,201
(116,375)
23 OPERATING LEASE COMMITtIlENTS
Al 31 July 2025, the Group and the Union had no future minimum commitments under non-cancellable
operating leases (2024: nil). The rental lease with the University expired on 31 July 2024 and now operates
on a rolling basis. The following lease payments have been recognised as an expense in the Statement
of Financial Aclivities..
GROUP
CHARITY
2025
2024
2025
2024
Operating lease rentals
204 176
204,176
204,176
IID?
Siud•Trli'

40IPage
24 RELATED PARTIES
The Union is in receipt of a recurring grant from the University of Huddersfield of £1,257,836 (2024..
£1.373,020). The Union paid the Universrty £204,176 for rent (2024.. £204,176 for rent and £42,279 in IT
and other support Charges). At the year end, Ihe Union owed the Universty £30,791 (2024.. £40,585).
Included in deferred income is a balance of £268,620 (2024-. £221,211) which relates to the block grant
received in advance from the University.
Hudder5field StLKlents' Union Lettings Limited {HudLets) is a wholly owned subsidiary of Universily of
Huddersfield Students, Union. During the year. the Union recharged costs amounting to £2,892 (2024..
£11.8741 to HudLet5. At the BaFance Sheet date, £50,000 (2024: £50.000) was owed to the Union.
The sabbalical officers are trustees of the Union, but also employed and in receipt of a monthly salary.
Details of this and olher tnjstee expenses and remuneration are included in Note 11.
25 PRIOR YEAR ADJUSTMENT
The Union has a number of Clubs and Societies which raise money from its members to undertake their
activities. The money raised is banked in the Union's bank accounts along with other monies it receives.
Hislori¢ally, any unspenl money raised by Clubs and Socielies at the year-end was Ireated as a credrtor
in the Union's accounts. However, after undertaking a review this year it has been determined that these
balan￿$ should be treated a5 part of the Union's funds and not as a creditor. Consequently. the prior
year's numbers have been reslated to show the income and expenditure incurred on the Clubs and
Societies as part of the Statement of Financial Aclivities. Additionally. the Clubs and Societies balances
are now being disclosed as part of the restricted funds of the Union.
SOFA
Balance
Sheet
Total
Restatement of openlng rèseNes at 1 August 2023
for ¢lubs and socièties restricted fund balances
Clubs and Societies restricted Income
Clubs and Societigs restricted expenditure
Effect on prlor year
(56,94n
(70,638)
(56,947)
70.638
82,256
11,618
sDH

411Page
26
Comparatlvo Fund and SOFA Balances RESTATED
Total
Funds
Year
Ended
2024
Unrestricted
Funds
Restricted
Funds
INCOME AND EXPENDITURE
Income from:
Donations and grants
Charitable aclivilies
Other trading activities
Investment income
1,168,844
1,006,551
97,557
47,787
204,176
70,638
1,373,020
1,077,189
97,557
Total Income
2,320,739
274 814
2,595.553
Expenditure upon:
Raising funds
Charitable activi118S
88,420
2 332,654
88.420
2 619.086
286,432
Total Expendlture
2,421,074
286,432
2 707,5
Taxation
{2,460>
(2,460)
Net Incomel{Expenditure
Transfer5 between funds
Net Movement in funds for the year
1102,795)
{11,618)
{114,413)
1102,7951
(11,6181
(114,413>
Net lunds at 1 August 2023 RESTATED
Net funds at 31 July 2024
178,997L
281,795
5S,947 J122.050
45,329
236,463
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