# 

# 



## 

## 




## 

## 

## 



## 



## 

## 

## 

## 

## 

||2024|2023|
|---|---|---|
||£|£|
|RestrictedFunds(Societies&Sports Clubs)|286,644|224,708|
|RestrictedFunds(PensionDeficit)|(1,825,863)|(1,860,391)|
|UnrestrictedFunds|791,031|969,215|
|DesignatedFunds|373,367|23,367|



## 



## 

## 

## 

## 

## 

## 



## 

## 

## 

## 

## 



## 

## 

## 

## 

## 

## 

## 

## 



## 

## 

## 

## 

## 



## 

## 

## 

## 



## 

## 

## 


## 

## 



## 

## 

|Risk|Risk|Control|RiskStatus|
|---|---|---|---|
|Register|||(Red,Amber,|
|Reference|||Green)|
|1|Reductionin|WorkcloselywiththeUniversitytodemonstrate||Amber|
||financial|theimportance,impact,andvalueformoneyof||
||assistancefrom||ourservices|Riskis|
||theUniversity||increasing|
||||fromlastyear|
|2|Charityholding||UniontohaveaneffectiveReservesPolicyin|Green|
||inadequate|placewhichisreviewedduringtheannual||
||reserveswhich||externalauditandreportedthroughtheannual|Riskis|
||affectsitsgoing||accounts|decreasing|
||concernstatus||fromlastyear|
|3|Significant|Allowminimum3%increaseinallbudget|Amber|
||increaseinstaff||estimates.Wherepossibleallownatural||
||salarycosts,|wastagetolowerthecomplimentofpermanent|Riskis|
||including|staff|increasing|
||National||fromlastyear|
||Minimum|||
||Wage/Living|||
||Wagerates|||
|6|Increasesto|PlayanactivepartintheStudentUnion’s|Red|
||pensionscheme||SuperannuationScheme(SUSS)andits||
||deficit|financialstrategytoimprovetheschemefunding||Nochangeto|
||contributions|levelandminimisetheimpactoffuturedeficit|riskfromlast|
|||contributionincreases.|year|
|||ContinuetoapproachtheUniversityforfinancial||
|||supporttomitigateagainstimpactofpension||
|||payments||





## 

||Failureto|TheUnionwillneedtocontinuetoadaptto|Red|
|---|---|---|---|
||achieve|economicconditionsandreactaccordingly.||
||budgetary||Nochangeto|
||targets.|Expenditurelevelsacrossbothcharityand|riskfromlast|
|||commercialactivitiesmustreflectthecurrent|year|
|||levelsofexpectedincome.Staffingteamsand||
|||Trusteeswillcontinuetoexploreandevaluate||
|||newwaysofsourcingandsecuringincome.||
|||Thiswillincludeidentifyingnewcommercial||
|||opportunitiesfortheUnionornewventuresthat||
|||canbeoperatedinpartnershipwiththe||
|||Universityorotherexternalpartners||
||Reductionin|President,FTOs&CEOtoengageviaSLT,|Amber|
||Homeand|PSLTandotherBoard,WorkingGroupsand||
||International|StrategicPlanningprocesstosupport|Riskis|
||student|recruitmentcampaigns|increasing|
||numbers||fromlastyear|
|||WorkwithMRItopromoteSwanseaStudent||
|||ExperienceduringOpenDaysandthrough||
|||University’smarketingmaterialandmedia.||
|||PromotetheArrival&Freshers,KeyUnion||
|||communitybuildingevents(Varsity&Summer||
|||Ball)andexperiencetoprospectiveand||
|||returningstudents||
|10|Reductionin|President&CEOtoengageviaSLT,PSLT,|Red|
||International|TNEBoard,WorkingGroupsandStrategic||
||Postgraduate|Planningprocesstosupportrecruitment|Increasing|
||Taught(PGT)|campaigns|fromlastyear|
||student|||
||numbers|LobbyandworkwiththeUniversitytodeliver||
|||qualityInternationalStudentExperienceand||
|||tailoredservicestointernationalstudentse.g.||
|||suchastheInternationalStudentLoungeand||
|||GatewayProjects||
|||Stronglyrepresentstudentvoiceandprovide||
|||tailoredsupporttointernationalstudentsthrough||
|||Union’sAdvice,VoiceandOpportunitiesteams||
|||SupportUniversity’sambitions,strategyand||
|||plansforexpandingitsonline,franchise||
|||partnershipsandTNEprogrammes||
|12|Lossoftenure|WorkwithseniormanagersoftheUniversityto|Amber|
||ofthefacilities|secureStudents’Unionandotherstudent||
||andspace|spacesatSingletonandBaycampuses|Nochangeto|
||providedbythe||riskfromlast|
||University||year|





## 

## 

## 

## 




## 

## 

## 

## 

## 

## 



## 

## 

## 

## 

## 

## 



## 

## 



# 

## 

## 

## 



## 

|||||||||13month|
|---|---|---|---|---|---|---|---|---|
||||||11month|||periodto31|
||||||activityto|||August|
|||Unrestricted|Designated|Restricted|31July|||(unincorporated)|
|||Funds|Funds|Funds|2024|||2023|
||Notes|£|£|£|£|||£|
|Incomeandendowmentsfrom:|||||||||
|Donationsandlegacies|||||||||
|BlockGrant|4|1,215,169|-|-|1,215,169|||1,428,088|
|NurseryGrant|4|38,833|-|-|38,833|||44,659|
|HEFCWGrant|4|126,200|-|-|126,200|||32,550|
|OtherTradingActivities:|||||||||
|OtherCommercialActivities||32,220|-|-|32,220|||33,978|
|Charitableactivitiesforstudents:|||||||||
|Societies&Sports||-|-|1,178,686|1,178,686|||916,086|
|Bars||437,294|-|-|437,294|||387,189|
|Shops||2,021,409|-|-|2,021,409|||2,124,526|
|Events,MediaandMarketing||525,272|-|-|525,272|||659,734|
|NurseryFees||226,653|-|-|226,653|||263,444|
|InvestmentIncome||38,764|-|-|38,764|||9,038|
|Otherincome||87,445|-|-|87,445|||137,601|
|Totalincome||4,749,259|______-|_1,178,686|_5,927,945||_6,036,893||
|Expenditureon:|||||||||
|Raisingfunds:|||||||||
|OtherCommercialActivities|||||||||
|CharitableActivitiesforstudents:|||||||||
|Welfare,Advice&Support||225,886|-|-|225,886|||284,852|
|StudentVoice||548,287|-|-|548,287|||688,464|
|Societies&Sports||129,122|-|1,116,750|1,245,872|||1,028,593|
|Nursery||371,429|-|-|371,429|||432,821|
|Bars||620,124|-|-|620,124|||562,737|
|Shops||2,135,760|-|-|2,135,760|||2,282,102|
|Events,MediaandMarketing||546,835|-|-|546,835|||733,487|
|MovementinSUSSPensionFund|||||||||
|(Surplus)/Deficit||-|-|(34,528)|(34,528)|||(94,230)|
|Totalexpenditure|5-7|_4,577,443|_____-|_1,082,222|_5,659,665||_|<br>5,918,826|
|Netincome/(expenditure)||171,816|-|96,464|268,280|||118,067|
|Transferofbalancescarried<br>forwardfromunincorporatedentity||969,215|23,367|(1,635,683)|(643,101)||||
|Transfersbetweenfunds||(350,000)|350,000|-||-||-|
|Netmovementinfunds||791,031|373,367|(1,539,219)|(374,821)|||118,067|
|Fundbalancesbroughtforward||-|-|-||-||(761,168)|
|Fundbalancescarriedforward||791,031|373,367|_(1,539,219)|_(374,821)|||(643,101)|





## 







## 

## 




## 

## 

## 



## 

## 

## 

## 



## 

## 

## 

## 

## 




## 

## 

|5<br>CharitableandotherActivityCosts|5<br>CharitableandotherActivityCosts|5<br>CharitableandotherActivityCosts|5<br>CharitableandotherActivityCosts||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|||||||||||||||11month|
|||||||||||||||activityto|
|||||||||||||||31July|
|||Costofsales||Staffcosts||<br>Rent&rates|||Other|||costs||<br>2024|
|||£|||£|£|||||£|||£|
|RaisingFunds|||||||||||||||
|Othercommercial|||||||||||||||
|activities|||-|||-||-|||||-|<br>-|
|Charitableactivities|||||||||||||||
|forstudents|||||||||||||||
|Welfare,adviceand|||||||||||||||
|support|||-||178,205|<br>9,061|||||38,620|||<br>225,886|
|Studentvoice|||-||325,838|<br>5,312|||||217,137|||<br>548,287|
|Societiesand|sports||-||51,421|<br>17,103||||1,177,348||||<br>1,245,872|
|Nursery|||-||318,898|<br>20,140|||||32,391|||371,429|
|Bars||161,429|||213,390|<br>117,596|||||127,709|||620,124|
|Shops||1,422,854|||407,819|<br>13,367|||||291,720|||2,135,760|
|Entertainments||310,803|||215,609|<br>10,677||||||9,746||546,835|
|SUSSdeficitpension|||||||||||||||
|Financecosts|||-||(34,528)|||-|||||-|<br>(34,528)|
||Totalcosts|1,895,086|||1,676,652|<br>193,256||||1,894,671||||_5,659,665|
|Prioryear|||||||||||||||
||||||||||||||13monthperiod||
|||||||||||||||to31August|
|||||||||||||||2023|
|||Costofsales||Staff|costs|Rent&rates||Othercosts|||||<br>(unincorporated)||
|||£||£||£|||£|||||£|
|RaisingFunds|||||||||||||||
|Othercommercial|||||||||||||||
|activities||-|||-||-||||||-|-|
|Charitableactivities|||||||||||||||
|forstudents|||||||||||||||
|Welfare,advice|and||||||||||||||
|support||-||213,845||8,419|||62,588|||||284,852|
|Studentvoice||-||389,736||8,545|||290,||183|||688,464|
|Societiesandsports||-||59,310||17,531|||951,752|||||1,028,593|
|Nursery||-||365,318||16,777|||50,726|||||432,821|
|Bars||164,261||216,006||92,241|||90,229|||||562,737|
|Shops||1,534,012||410,522||8,858|||328,710|||||2,282,102|
|Entertainments||345,235||325,429||5,830|||56,993|||||733,487|
|SUSSdeficitpension|||||||||||||||
|Financecosts||-||(94,230)|||-||||||-|(94,230)|
|Totalcosts||2,043,508||1,885,936||158,201|<br>_|1,831,181|||||<br>_5,918,826||
|Includedinadviceandrepresentationcost|||is:||||||||||||
||||||||11|month|||||13|monthperiod|
||||||||activity|||to|||to|31August|
||||||||31July||2024|||||2023|
|||||||||2024|||||(unincorporated)||
|||||||||£||||||£|
|NUSaffiliationfees||||||||24,397||||||28,744|
|Otheraffiliationfees|||||||||569|||||594|





## 

## 

|in|othercostsisgovernancecostsof:|||
|---|---|---|---|
|||11month|13monthperiod|
|||activityto|to31August|
|||31July|2023|
|||2024|(unincorporated)|
|||£|£|
|Auditorsremuneration:||||
|-|Auditfee(Union)|22,000|20,000|
|-|Auditfee(Subsidiary)|5,280|4,800|
|-|Taxationservices|2,640|2,400|
|Sabbaticalofficerremuneration||138,833|152,962|



||||||11month|
|---|---|---|---|---|---|
||||||activityto|
||||Rent&||31July|
|||Staff|rates|Other|2024|
|||£|£|£|£|
|Raisingfunds:||||||
|Othercommercialactivities||||||
|Charitableactivitiesforstudents||||||
|Welfare,adviceandsupport||30,443|9,061|34,627|74,131|
|Studentvoice||49,155|5,312|77,911|132,378|
|Societiesandsports||9,941|17,103|60,598|87,642|
|Nursery||61,652|20,140|17,314|99,106|
|Bars||41,255|117,596|34,627|193,478|
|Shops||78,843|13,367|69,255|161,465|
|Entertainment||59,532|10,677|34,627|104,836|
||Totals|330,821|193,256|_328,959|_853,036|



|Prioryear|||||13monthperiod|
|---|---|---|---|---|---|
||||||to31August|
||||Rent<br>&||2023|
|||Staff|rates|Other|(unincorporated)|
|||£|£|£|£|
|Raisingfunds:||||||
|Othercommercialactivities||||||
|Charitableactivitiesforstudents||||||
|Welfare,adviceandsupport||34,905|8,419|57,025|100,349|
|Studentvoice||56,571|8,545|114,050|179,166|
|Societiesandsports||10,817|17,531|28,512|56,860|
|Nursery||66,628|16,777|28,512|111,917|
|Bars||39,396|92,241|28,512|160,149|
|Shops||74,872|8,858|114,050|197,780|
|Entertainment||77,960|5,830|57,025|140,815|
||Totals|361,149|_158,201|427,686|947,036|





## 

## 

|taffCosts|||
|---|---|---|
||11month|13monthperiod|
||activityto|to31August|
||31July|2023|
||2024|(unincorporated)|
||£|£|
|Wagesandsalaries|1,557,697|1,808,686|
|Socialsecurity|109,109|126,720|
|Pensioncosts|42,452|44,760|
||1,709,258|1,980,166|
|MovementinSUSSPensionFundDeficit|(34,528)|(94,230)|




||2024|||2023||
|---|---|---|---|---|---|
|£60,000-£70,000|||-||1|
|£70,000-£80,000||2|||1|
|Theaveragestaffingwasasfollows:||||||
||2024|||2023||
||£|||E||
|Fulltime—Totalnumberofstaff||61|||62|
|Students(Parttime)||80|||76|





## 

## 

||Motor|||
|---|---|---|---|
||Vehicles|Equipment|Total|
||£|£|£|
|COST||||
|At9May2023||||
|Transferredfromunincorporatedentity|47,695|212,524|260,219|
|Additions|-|16,698|16,698|
|Disposals|(8,999)|(55,119)|(64,118)|
|At31July2024|38,696|174,103|212,799|
|DEPRECIATION||||
|At9May2023||||
|Transferredfromunincorporatedentity|9,460|153,727|163,187|
|Chargefortheperiod|5,067|42,185|47,252|
|Disposals|(8,999)|(55,119)|(64,118)|
|At31July2024|5,528|140,793|146,321|
|NETBOOKVALUE||||
|At31July2024|33,168|33,310|66,478|
|At31August2023(unincorporated)|38,235|58,797|97,032|





## 

|10|Investments—GroupandUnion|||||||
|---|---|---|---|---|---|---|---|
|||Unlisted||Investmentin||||
|||investments||Subsidiary||Total||
|||£||£||£||
||COSTORVALUATION:|||||||
||At9May2023||-||-||-|
||Transferredfromunincorporatedentity|5,400|||1|5,401||
||At31July2024|5,400|||1|—__-5,401||
||NETBOOKVALUE:|||||||
||At31July2024|5,400|||1|5,401||
||At 31August2023(unincorporated)|5,400|||1|5,401||



||SUSUTradingLtd|SUSUTradingLtd|
|---|---|---|
||11month|13month|
||activityto|periodto|
||31July|31August|
||2024|2023|
||£|£|
|TradingSubsidiary|||
|Turnover|2,983,962|3,172,158|
|Costofsales|(1,844,853)|(1,982,892)|
|Grossprofit|1,139,109|1,189,266|
|Administrativeexpenses|(1,068,645)|(1,166,383)|
|GiftaidpayabletotheUnion|(22,883)|(14,199)|
|Netprofit|47,581|8,684|



## 

## 

## 




## 

|||Group|Group||Union|Union||
|---|---|---|---|---|---|---|---|
|12|Debtors|2024|2023|2024|||2023|
||||(unincorporated)||(unincorporated)|||
|||£|£|£|||£|
||Tradedebtors|164,889|24,037|<br>89,702|||2,790|
||Amountsduefromsubsidiaries|-|-|<br>92,206|||300,476|
||Othertaxation|-|6,041|-|||6,041|
||Otherdebtors|-|1,483|<br>-|||1,483|
||Prepayments&accruedincome|36,927|140,256|<br>10,164|||125,409|
|||——201,816|171,817|<br>192,072||_436,199||
|||Group||Union||||
|13|Creditors:Amountsduewithin||2023||||2023|
||oneyear|2024|(unincorporated)<br>2024||=(unincorporated)|||
|||£|£|£|||£|
||Tradecreditors|49,513|94,846|7,391|||58,082|
||Socialsecurityandothertaxes|70,660|16,939|57,786|||-|
||Othercreditors|4,492|205,278|3,034|||120,751|
||Accrualsanddeferredincome|250,837<br>375,502|3,181<br>___320,244|136,644<br>_204,855|<br>|_|2477<br> 187,310|
||Thedeferredincomebalancerepresents|eventsbeing|paidforinadvanceintheperiod,wherethe|||||
||eventistakingplacepostperiod-end.Themovements||duringtheperiodaredetailed||as|follows:-||
|||Group||Union||||
|||2024|2023|2024||2023||
|||£|£|£|||£|
||Deferredincomeat9May2023||-|-<br>-|||-|
||Transferredfromunincorporatedentity|34,894|<br>14,000|<br>25,000|||14,000|
||Incomereceived|63,444|<br>34,894|<br>60,000|||25,000|
||Incomeutilised|(34,894)|<br>(14,000)|<br>(25,000)||(14,000)||
||Deferredincomeasat31July|63,444|<br>34,894|<br>60,000|||25,000|



## 

||Unrestricted||Designated|Restricted|||
|---|---|---|---|---|---|---|
||Funds||Funds|Funds||2024|
||£||£|£||£|
|FixedAssets|71,878||-||-|71,878|
|Netcurrentassets|719,153||373,367|286,644||1,379,164|
|Longtermliabilities||-|-|(1,825,863)||(1,825,863)|
||791,031||373,367|(1,539,219)||(374,821)|





## 

## 

## 

|2024|||||||||Transferred||
|---|---|---|---|---|---|---|---|---|---|---|
||||||||||from||
||As|at|9||May|<br>Incoming|<br>Resources||<br>—unincorpor|Asat31|
|||2023||||resources|<br>expended||atedentity|July2024|
||||£|||£|£||£|£|
|Pensionfund|||||-|34,528||-|(1,860,391)|(1,825,863)|
|Otherrestricted|||||||||||
|Reserves|||||-|1,178,686|<br>(1,116,750)||<br>224,708|286,644|
||||||-|1,213,214|<br>(1,116,750)||<br>_(1,635,683)|_(1,539,219)|
|2023(unincorporated)|||||||||||
||As||at||1|Incoming|Resources|||Asat31|
||August|||2022||<br>resources|<br>expended||Transfers|August2023|
||||£|||£|£||£|£|
|Pensionfund|(1,954,621)|||||<br>94,230||-|-|(1,860,391)|
|Otherrestricted|||||||||||
|Reserves||231,862||||916,086|<br>(923,240)||<br>-|224,708|
||(1,722,759)|||||<br>1,010,316|<br>(923,240)||<br>-|(1,635,683)|
|Restrictedreservesare|society|and|||sportfundswhich||representamountsraisedbythesocietiesand||||
|sportsclubsoftheUnionfortheir|||ownuse.||||||||
|UnrestrictedReserves|(Group)||||||||||
||||||||||Transfersand||
||||||||||Transferred||
|||||||Incoming|Resources||from|Asat|
||Asat9|May||||resources|expended|unincorporated||31July|
||2023||||||||entity|2024|
||£|||||£|£||£|£|
|GeneralFund||||-||4,749,259|(4,577,443)||619,215|791,031|
|2023(unincorporated)|||||||||||
||As||at||1|Incoming|Resources|||Asat31|
||August|||2022||<br>resources|expended||Transfers|August2023|
||||£|||£|£||£|£|
|GeneralFund||938,224||||5,182,970|<br>(5,151,979)||<br>5|969,215|
|DesignatedReserves|(Group|&|Union)||||||||
||||||||||Transfersand||
|||||||Incoming|Resources’||Transferredfrom|<br>Asat|
||Asat9||May|||resources|expended||unincorporated|31July|
||2023||||||||entity|2024|
|||£||||£|£||£|£|
|SUSSPensionDeficit|||||-|-||-|350,000|350,000|
|WelfareProjects|||||-|=||-|23,367|23,367|
||||||-|-||-|373,367|373,367|





## 

## 

|3(unincorporated)||||||||
|---|---|---|---|---|---|---|---|
||As|at|||||Asat|
||7August||Incoming|Resources|||31August|
||2022||resources|expended|<br>Transfers||2022|
||£||£|£|£||£|
|PeriodDignityFund||7,000|-||-|-|7,000|
|ConnectFunding|16,367||-||-|-|16,367|
||23,367||-||-|-|23,367|
|easingcommitments||||||||
|t31July2024UniversityofSwanseaStudents’Union||||hadfutureminimumlease||paymentsunder||
|on-cancellableoperating|leases|asdetailedbelow:-||||||
|Landandbuildings|||||2024||2023|
||||||||(unincorporated)|
||||||£||£|
|Duewithinoneyear|||||14,419||5,571|
|Withintwotofiveyearsinclusive|||||9,246||-|
||||||——23,665||5,571|



## 

## 



## 

## 

## 



## 

## 

||2024|2023|
|---|---|---|
|||(unincorporated)|
||£|£|
|Group|||
|Financialassetsmeasuredatamortisedcost|1,656,466|1,336,103|
|Financialliabilitiesmeasuredatamortisedcost|241,398|268,410|
|Financialassetsmeasuredatfairvalue|5,400|5,400|
|Financialliabilitiesmeasuredatfairvalue|1,825,863|1,860,391|
|p’sincome,expense,gainsandlossesinrespectoffinancialinstruments|aresummarisedbelow:||
||2024|2023|
|||(unincorporated)|
||£|£|
|Interestincomeandexpense:|||
|Totalinterestincomeforfinancialassetsheldatamortisedcost|38,764|9,038|
||2024|2023|
|||(unincorporated)|
||£|£|
|CharitableCompany|||
|Financialassetsmeasuredatamortisedcost|1,503,389|1,243,244|
|Financialliabilitiesmeasuredatamortisedcost|87,070|156,309|
|Financialassetsmeasuredatfairvalue|5,401|5,401|
|Financialliabilitiesmeasuredatfairvalue|1,825,863|1,860,391|



||2024|2023|
|---|---|---|
|||(unincorporated)|
||£|£|
|Interestincomeandexpense:|||
|Totalinterestincomeforfinancialassetsheldatamortisedcost|38,764|9,038|





## 

## 

|||||13month|
|---|---|---|---|---|
|||||periodto31|
||Unrestricted|Designated|Restricted|August|
||Funds|Funds|Funds|2023|
||£|£|£|£|
|Incomeandendowmentsfrom:|||||
|Donationsandlegacies|||||
|Block Grant|1,428,088|-|-|1,428,088|
|NurseryGrant|44,659|-|-|44,659|
|HEFCWGrant|32,550|-|-|32,550|
|OtherTradingActivities:|||||
|OtherCommercialActivities|33,978|-|-|33,978|
|Charitableactivitiesforstudents:|||||
|Societies&Sports|-|-|916,086|916,086|
|Bars|387,189|-|-|387,189|
|Shops|2,124,526|-|-|2,124,526|
|Events,MediaandMarketing|659,734|-|-|659,734|
|NurseryFees|263,444|-|-|263,444|
|InvestmentIncome|9,038|-|-|9,038|
|Otherincome|137,601|-|-|137,601|
|Furlough|-|-|-|-|
|Totalincome|5,120,807|-|916,086|6,036,893|
|Expenditureon:|||||
|Raisingfunds:|||||
|OtherCommercialActivities|-|-|-|-|
|CharitableActivitiesforstudents:|||||
|Welfare,Advice&Support|284,852|-|-|284,852|
|StudentVoice|688,464|-|-|688,464|
|Societies&Sports|105,353|-|923,240|1,028,593|
|Nursery|432,821|-|-|432,821|
|Bars|562,737|-|-|562,737|
|Shops|2,282,102|-|-|2,282,102|
|Events,MediaandMarketing|733,487|-|-|733,487|
|MovementinSUSSPensionFund|||||
|(Surplus)/Deficit|-|-|(94,230)|(94,230)|
|Totalexpenditure|_5,089,816|-|___829,010|5,918,826|
|Netincome/(expenditure)|30,991|-|87,076|118,067|
|Transfersbetweenfunds|-|-|-|-|
|Netmovementinfunds|30,991|-|87,076|118,067|
|Fundbalancesbroughtforward|938,224|23,367|(1,722,759)|(761,168)|
|Fundbalancescarriedforward|969,215|23,367|(1,635,683)|(643,101)|