OpenCharities

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

2025-07-31-accounts

Northampton Students’ Union Financial Statements for the Year Ended 31[st] July 2025

1

Northampton Students’ Union (NSU) Annual Report and Accounts for the year ended 31[st] July 2025

CONTENTS

Page
Charity Reference and Administrative Details 3 - 4
Report of the Trustees 5 - 10
Independent Auditor’s Report 11 - 13
Statement of Financial Activities 14
Balance Sheet 15
Statement of Cash Flows
 16
Notes to the Financial Statements 17 - 29

2

Northampton Students’ Union (NSU) Annual Report and Accounts for the year ended 31[st] July 2025

ADMINISTRATIVE DETAILS

Charitable Status

Northampton Students’ Union (NSU) is a Students’ Union recognised under the Education Act 1994 and is incorporated as a charitable company limited by guarantee under the Companies Act 2006, registered with the Charity Commission (No. 1209212) and Companies House (No. 15714072).

The unincorporated charity The University of Northampton Students’ Union (UONSU) (Charity No. 1144827) merged with NSU on 1 March 2025, with all activities, assets and liabilities transferring to NSU on that date. The combination has been accounted for as a merger in accordance with the Charities SORP (FRS 102).

These financial statements have been prepared in accordance with FRS 102, including Section 1A applicable to small entities, and with the requirements of the Charities SORP (FRS 102). Comparative figures have been restated to reflect the merger as if NSU had operated the combined activities throughout both periods presented.

both periods presented.
Principal Addresses Registered Office
The Engine Shed University of Northampton The Engine Shed
University Dr Development Hub University Dr
Northampton Cliftonville Rd Northampton
NN1 5PH Northampton NN15 5PH
NN1 5PH

Trustees of the Charity

The trustees who have served during the year and since the year end were as follows:

Name Appointed Resigned
P. Wood 27/05/2021 17/07/2025
H. Templeman 01/04/2021
L. Wilkins 01/12/2022
B. Mohan 19/06/2023 15/03/2024
R. Roy 19/06/2023 23/05/2025
F. Ajmal 19/06/2023 30/04/2025
M. Windle 19/06/2023 28/06/2024
C. Okonkwo 18/04/2024 15/03/2025
J. Sparkhall 10/05/2024
A. Mauree 30/05/2024
O. Chapman 01/07/2024 30/06/2025
M. Hafiz 16/06/2024
A. Thomson 09/07/2024
A. Fuzzard 01/04/2025
E. Duffy 04/04/2025
R. Overton 21/04/2025
S. Johnston 01/07/2025
R. Katariya 01/07/2025

Directors of the Charity

The directors who have served during the year and since the year end were as follows:

Name Appointed Resigned
H. Templeman 07/11/2025
L. Wilkins 07/11/2025
R. Roy 11/05/2024 23/05/2025
F. Ajmal 11/05/2024 30/04/2025
J. Sparkhall 07/11/2025
M. Hafiz 11/05/2024
A. Thomson 07/11/2025
A. Fuzzard 07/11/2025
E. Duffy 07/11/2025
R. Overton 07/11/2025
S. Johnston 09/06/2025
R. Katariya 09/06/2025

3

Northampton Students’ Union (NSU) Annual Report and Accounts for the year ended 31[st] July 2025

Full-time (Sabbatical) Officers

President Education Officer Welfare Officer Activities Officer Communities Officer

July 2025

July 2024

F. Ajmal M. Hafiz R. Roy O. Chapman -

Auditors

Bankers

Clifford Roberts, Lloyds Bank Plc., Chartered Auditors, 25 Gresham Street, Pacioli House, London, 9 Brookfield, EC2V 7HN Duncan Close, Moulton Park, Northampton, NN3 6WL

Key Management Personnel

NSU employs a Chief Executive to work closely with the Executive Officers and ensure effective management of the charity as head of a senior management team as follows: -

Chief Executive Officer R. Weston Head of Finance and Compliance J. Dean Deputy Chief Executive Officer R. Harvey

J. Dean also holds the position of Company Secretary, appointed 23[rd] October 2025.

4

Northampton Students’ Union (NSU) Annual Report and Accounts for the year ended 31[st] July 2025

THE REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 JULY 2025

The Trustees, who are also the directors of the charitable company for the purposes of company law, present their annual report for the year ended 31 July 2025, which includes the administrative information set out on page 3 and 4, together with the audited financial statements for the year. The trustees have adopted the provisions of the Statement of Recommended Practice (SORP) “Accounting and Reporting by Charities” in preparing this report and the financial statements.

The financial statements have been prepared in accordance with the accounting policies set out in the notes to the financial statements and comply with the charitable company’s Articles of Association, the Companies Act 2006, the Charities Act 2011, and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1[st ] January 2019).

Objectives and Activities

About the Students’ Union

Northampton Students’ Union is a registered charity, associated with, but independent from the University. We are led by students, underpinned by volunteers and staff, we seek to ensure that our members time at the University of Northampton is rewarding, fulfilling, and memorable. We want your student experience to be the best it can possibly be!

Some of our best work and biggest impacts come straight from our students. Whether it’s Student Reps empowering and uplifting the voices of their peers, or Student Group committee members bringing communities together through their activities, we’re proud students are at the heart of everything we do.

Our Charitable Purpose and Public Benefit

The trustees confirm that they have complied with the duty in section 4 of the 2006 Charities Act to have due regard to guidance published by the Charity Commission regarding the Public Benefit.

The Union’s objects are the advancement of education of Students at the University of Northampton for the

public benefit by:

Owned by Students

Student ownership is at the heart of the Students’ Union. Representing circa 12,000 student members

Structure, Governance and Management

The Students’ Union’s governing document is its Articles of Association supported by the Bye-Laws.

The Students’ Union is a democratic membership organisation led by the 3 full-time and 3 part-time Students’ Union Officers. The officers are held to account by the Union Committee.

The officers are all elected by and from the full members of the Students’ Union through an all-member ballot.

The Board of Trustees are responsible for the governance, financial and strategic leadership of the organisation. The trustees delegate day-to-day management responsibility to the Chief Executive, who in turn is supported by a senior leadership team consisting of the Deputy CEO and the Head of Finance and Compliance.

5

Northampton Students’ Union (NSU) Annual Report and Accounts for the year ended 31[st] July 2025

However, the Trustee Board does have the power to override any decision made by any member democratic meetings or referendums if it is in breach of charity or education law or other legal requirements, is considered to not be in the best interests of the organisation or its charitable objectives, may have financial implications for the Students’ Union or may affect the ability of the trustees to discharge their responsibilities.

Achievements and Performance

Promoting the Interests and Welfare of Students

For three years running, half of all students surveyed have said they would turn to the Students’ Union if they needed help or advice, a 4% increase from the start of our 2023-2027 strategy.

This year our advice service supported almost 500 students, providing free, independent, impartial and confidential support to students facing academic issues including academic misconduct, disciplinaries, termination appeals and student complaints.

We are aware that some student groups within our community are less likely to engage than others and it is vital we ensure their voices are heard. A newly formed Student Equality, Diversity and Inclusion forum brought together student leaders representing student liberation groups across the University. They met with senior University leaders to highlight a range of challenges affecting their university experience — from feelings of isolation among Black and international students, to accommodation concerns for neurodivergent and LGBTQ+ communities, and a lack of confidence among international students navigating job placements and interviews.

The response from senior leadership has been encouraging. The Vice Chancellor has committed to addressing the findings of the Living Black at University Halpin Review, ensuring that actions are not only implemented but meaningfully evaluated in partnership with students. In response to calls for more inclusive accommodation options, the University has pledged to reinstate its opt-in process for inclusive housing communities, as well as the usual transfer process, following challenges caused by flooding this year.

Additionally, new training on neurodiversity — shaped with input from students and supported by external expertise — will be embedded in the University’s annual staff development programme.

Another important commitment came in response to concerns about the use of dead names. The new student record system will prioritise chosen names in internal systems, with increased care promised around communications sent to home addresses for the protection of student privacy.

Further to these projects, we continued our partnership with the University on the Students’ Organising for Sustainability ‘Drug and Alcohol Impact’ programme. Adopting a harm reduction approach through a range of initiatives and activities we were formally accredited in May 2025. The audit highlighted several standout successes across the partnership:

6

Northampton Students’ Union (NSU) Annual Report and Accounts for the year ended 31[st] July 2025

SOS-UK trained University of Northampton student volunteers to audit their institution. One student auditor said: “ This work is invaluable and could save lives. Bringing the topic of drug and alcohol consumption into conversation not only reduces risks but also allows people to seek help without shame. ”

Whilst another commented: “ It was wonderful to see the level of passion of the people involved with the project. ”

A Recognised Representative Channel

Working collaboratively with university academics we were able to recruit over 600 course reps to represent their peers and advocate for feedback on their course. We were incredibly proud this year to host a number of events to celebrate our course reps and develop the academic community on campus, including faculty fair, Christmas Social and Summer Social.

Roundtables also became a regular feedback mechanism for students. These involved senior University staff meeting with groups of students to understand key issues. In this academic year issues included timetabling, IT services and faculty specific concerns. It saw progress on projects such as condensed teaching to improve timetable delivery, and provide modern working students with a clearer picture of their teaching delivery and available free time.

This year’s Student Representation, Activities and Academic Representation Awards was held on campus in the Engine Shed for the first time. With over 100 individuals in attendance celebrating excellence across the University, it was hailed as recognition of the true partnership between staff and students across the institution and evidence of a desire to continue to listen to student feedback and effectively co-create together.

Black Student Advocates have continued to drive crucial conversations about racial equity at the University. Working in partnership with university leaders, they have helped spotlight systemic challenges and shaped meaningful steps toward a more inclusive and supportive environment for Black students.

Raising the Voice of Black Neurodivergent Students

A lack of tailored support for neurodivergent Black students emerged as a key concern. Advocates highlighted how this intersection is often overlooked, leading to barriers in both academic success and social wellbeing. In response, a detailed Neurodiversity Proposals Paper was developed and warmly received by senior University colleagues. Two of its core recommendations are now being taken forward: increasing access to culturally competent external support and improving inclusive teaching and assessment practices.

Tackling Isolation in Halls

Black students raised concerns about loneliness and lack of representation in student accommodation. In response, the Black Student Advocates led a focus group exploring experiences of isolation in halls, generating actionable insights that have been shared with relevant University teams. The conversation continues, with students playing a central role in identifying improvements.

Celebrating Black Culture and Community

Advocates voiced disappointment with the limited recognition of Black History Month on campus. In response, they took the lead—organising a sold-out Sip & Paint event to foster belonging, celebration, and community. Over 80 students registered interest, showing the appetite for culturally affirming spaces and events. The Advocates are currently leading the way in developing the Union’s provision for next year’s Black History Month.

Challenging Unconscious Bias

Concerns about unconscious bias—particularly in teaching, marking, and the consistent mispronunciation of names—were brought forward. These conversations have helped reinforce the need for inclusive training across staff teams and respectful everyday practices.

While challenges remain, these wins represent important steps towards change—driven by student leadership, backed by evidence, and grounded in lived experience.

7

Northampton Students’ Union (NSU) Annual Report and Accounts for the year ended 31[st] July 2025

Providing Activities, Forums and Personal Development

This year's welcome programme in September 2024 made great strides in welcoming students and building a vibrant, inclusive community at the University of Northampton. Through a diverse range of events aligned with the exciting launch of the Engine Shed evening programme, we have successfully increased student engagement and strengthened the sense of belonging across campus.

With over 920 attendees participating in activities across the week, student involvement has grown significantly. The enthusiasm extended beyond events, with a remarkable 2,515 sign-ups across student Societies and Sports Clubs during the Welcome period.

Across 2024-25 over 3,500 memberships were held for student groups across 64 student groups, 39 societies ranging from Crochet to AI and even Pole Fitness, these groups were running events for students throughout the year and supporting community building and unity of our students. Within these 64 societies, 8 were linked to academic courses, supporting students in their learning and interest in specific subject areas.

Our 22 Sport clubs had a great year, with 11 of our clubs regularly competing in BUCS, and a further 4 clubs competing in other league structures. We are very proud of our Men’s Basketball team for winning their division for a second consecutive year, winning them team of the year at the sports awards!

Fundraising remains a key part of our student groups contribution, this year raising over £6,000 for various charities. Highlights included our Dance club running their annual UON Does Strictly event, inviting members of other sports clubs to compete in a dance competition, this year they raised an impressive £643.80 for Northampton Hope Centre. Other clubs joined forces during November, growing moustaches (with varying success) and building networks for the popular Movember campaign, raising over £1,000. Our highest fundraisers for this year were our Islamic Society, who within their charity week managed to raise a mammoth £2,731.83 for Islamic Relief

Varsity was once again a highlight of the sporting calendar. This time travelling away to the University of Bedfordshire, we took over 280 athletes with us to bring home the trophy. A close fought contest throughout the day with superb sporting prowess displayed by both Universities, the atmosphere was electric, and the win was celebrated with a presentation ceremony in the Engine Shed at the end of the day.

Trustee Board

Appointment, Induction and Training

The Trustee Board meets a minimum of four times a year and is currently made up of 12 trustees: 3 (fulltime) Officers, a further 2 Student Trustees and 7 Lay Trustees.

Student Trustees are appointed by an application process outlining their suitability to represent student and member interests, and external trustees are appointed and selected on the basis of their skills, knowledge, experience and characteristics, taking into account the current composition of the Board.

Upon appointment all trustees attend induction training, which includes their legal duties, information about the organisation and their wider trustee responsibilities.

Board Committees

The Trustee Board has three permanent board committees: Finance & Risk, Human Resources and Performance & Remuneration, each of which meets four times a year. Terms of reference for these are established by the Trustee Board.

Relationship with the University of Northampton

As a major funding body of the Students’ Union, the organisation has a recognised relationship with the University of Northampton. This is detailed in a code of practice which governs the formal interaction between the two organisations. The code outlines how the University of Northampton’s meets its statutory duty under the Education Act 1994 to ensure, such as is reasonably practicable, that the Students’ Union operates in a fair and democratic manner and is responsible in the management of its finances.

8

Northampton Students’ Union (NSU) Annual Report and Accounts for the year ended 31[st] July 2025

In addition to this, in 2024 the two organisations developed a relationship agreement and implemented the ‘performance and assurance group’. These outline the expectations of the relationship between the organisations and provide assurance to the University of Northampton that the Students’ Union is meeting the necessary legal and statutory duties, as well as impactfully utilising the grant given to the organisation.

The positive nature of this relationship was seen clearly in the shared development of the University Student Experience Strategy, which has results in the development of six work streams, co-chaired by both University and Students’ Union representatives.

Serious Incidents and Related Policies

No serious incidents were reported to the Charity Commission during the year 2024-25. Trustees maintain oversight of the Students’ Union Risk Register in addition related policies, which include Conflict of Interest, Safeguarding, Health and Safety and Complaints.

Risk Management

The Trustee Board are responsible for ensuring that the organisation has a robust approach to the management of risk. The Finance and Risk committee reviews strategic level risk and the union risk register when it meets. The Board also has site of the risk register and has final approval of this. Responsibility for risk is delegated throughout the organisation, and the register is reviewed and actioned by them regularly. In addition to this, a range of processes and systems are in place to mitigate risks faced by the organisation. These ensure legal compliance with health and safety legislation, charity law and other relevant legislation.

Financial Review of the Year

NSU’s gross income from all sources this year totalled £1,743,344. Total expenditure of £1,808,131, on the wide-ranging student benefits we provide within a broadly balanced budget, as well as on the modest fundraising and other revenue-generating activities we undertake. This resulted in a deficit for the year, prior to the capital grant release, of £64,787, decreasing NSU’s total reserves from £875,793 to £811,006. The grant funded additions and depreciation of assets resulted in a net movement on the Capital grant fund from £424,106 to £313,319 in the year.

The Students’ Union has a reserves policy in place which outlines the level of reserves to be maintained, both as principles, but also in real terms based on the annual projected costs. The principles are:

Current free reserves stand at £464,005 (2024: £419,914).

Custodian Activities: Clubs’ & Societies’ Funds and the annual RAG

NSU acts as custodian for funds raised by the students’ many Clubs and Societies themselves, amounting to £33,652 at the year-end, in addition to the grant-support funds it disburses to them as shown in the accounts. NSU is also custodian of the annual RAG proceeds from fundraising events organised by the students under NSU auspices for distribution to the intended charities. RAG pay outs during the 24/25 year amounted to £1,083, resulting in a balance of £30 at the year end.

Future Funding

The Executive Committee confirms that NSU has sufficient funds to meet all its obligations. The Block Grant for 25/26 has been confirmed at £1,360,000.

Investment Policy

The Northampton Students’ Union Limited has adopted an ethical investment policy to ensure that its investments do not conflict with its aims. Investment should not be made directly in companies where more than 20% of turnover arises from: Tobacco or any other smoking related items including e-cigarettes, Alcohol, Gambling, Prostitution and Pornography.

The trustees reserve the right to exclude companies that carry out activities contrary to the charitable company’s aims, or from holding particular investments which damage the charitable company’s reputation.

9

Northampton Students’ Union (NSU) Annual Report and Accounts for the year ended 31[st] July 2025

Declaration

The Trustees who held office at the date of approval of this trustee report confirm that they are aware of all the relevant audit information and that there is no relevant audit information which has not been supplied to the charitable company’s auditors.

Trustee Board’s Responsibilities

The trustees, who are also directors of the charitable company for the purposes of company law, are responsible for preparing the Trustees’ Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources of the charitable company for that period. In preparing these financial statements, the trustees are required to:

The trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charitable company’s transactions, disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

In so far as the trustees are aware, there is no relevant audit information of which the charitable company’s auditor is unaware. The trustees have taken all steps that they ought to have taken as directors in order to make themselves aware of any relevant audit information and to establish that the auditor is aware of that information.

Auditors

The auditors, Clifford Roberts, have expressed their willingness to continue in office and this will be proposed at the forthcoming Annual General Meeting in accordance with section 485 of the Companies Act 2006.

Approved by the board of trustees (who are also the directors of the charitable company for the purposes of company law) and signed on its behalf by:

. . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Hafiz Muhammed Trustee

Dated: 22[nd] January 2026

10

Northampton Students’ Union (NSU) Annual Report and Accounts for the year ended 31[st] July 2025

Independent Auditor’s Report to the trustees of Northampton Students’ Union

We have audited the financial statements of Northampton Students’ Union Limited for the year ended 31[st] July 2025 which comprise the Statement of Financial Activities, the Balance Sheet, the Cash Flow Statement and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusion relating to going concern

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

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

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

Other information

The other information comprises the information included in the trustees' annual report, other than the financial statements and our auditor’s report thereon. The trustees are responsible for the other information. Our opinion on the financial statements does not cover the other information and we do not express any form of assurance conclusion thereon.

Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

11

Northampton Students’ Union (NSU) Annual Report and Accounts for the year ended 31[st] July 2025

Opinions on other matters prescribed by the Companies Act 2006

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

Matters on which we are required to report by exception

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 and the Charities (Accounts and Reports) Regulations 2008 require us to report to you if, in our opinion:

Respective responsibilities of trustees

As explained more fully in the trustees’ responsibilities statement set out on page 10, the trustees are responsible for the preparation of financial statements which give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

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

Auditor’s responsibilities for the audit of the financial statements

We have been appointed as auditor under the Companies Act 2006 and section 144 of the Charities Act 2011 and report in accordance with regulations made under the Act and relevant regulations made or having effect thereunder.

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

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

12

Northampton Students’ Union (NSU) Annual Report and Accounts for the year ended 31[st] July 2025

inquiries through our review of all relevant available audit information.

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of noncompliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at https://www.frc.org.uk/auditors/audit-assurance/auditor-s-responsibilities-forthe-audit-of-the-fi/description-of-the-auditor%E2%80%99s-responsibilities-for. This description forms part of our Report of the Auditors.

Use of Report

This report is made solely to the charitable company’s trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charitable company’s trustees those matters we are required to state to them in an auditor’s report under the Companies Act 2006 and the Charities Act 2011, and for no other purpose.

To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity’s trustees as a body, for our audit work, for this report, or for the opinions we have formed.

Adam Billingham BA (Hons) BFP FCA For and on behalf of Chartered Accountants & Statutory Auditor Pacioli House 9 Brookfield Duncan Close Moulton Park Northampton NN3 6WL

Date: 22[nd] January 2026

13

Northampton Students’ Union (NSU) Annual Report and Accounts for the year ended 31[st] July 2025

Statement of Financial Activities for the year ended 31[st] July 2025 (Comparative figures for 2024 have been restated under merger accounting)

Note
Income and endowments from:
Voluntary Income:
-Gifted services
-Grants received
-University Funding
Charitable activities for students:
-Bars & Catering
-Retail
-Events
-Fundraising
-Marketing
-Rent received
-Clubs & Societies
Other income:
-Minibus
-RAG
-Investment income
-Other income
Total income
Resources expended
Charitable Activities for students:
-Bars & Catering
-Retail
-Events
-Marketing
-Clubs & Societies
-Advice & Representation
-Minibus
-RAG
-Governance
Total expenditure
Net incoming resources for the year
Capital grant amortisation
Fund transfer
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Total funds carried forward		 Unrestricted
income
Custodian
funds
Restricted
funds
Capital
Grants
2025
Total
£
75,563
-
-
-
75,563
-
-
-
-
-
1,430,000
-
-
-
1,430,000
64,528
-
-
-
64,528
124,405
-
-
-
124,405
-
-
-
-
-
-
-
-
-
-
8,533
-
-
-
8,533
-
-
-
-
-
7,806
31,058
-
-
38,864
-
-
-
-
-
-
-
-
-
-
1,386
-
-
-
1,386
65
-
-
-
65
1,712,286
31,058
-
-
1,743,344		 2024
(restated)
Total
£
74,267
360
1,564,727
27,459
180,739
2,272
5
14,418
-
34,576
-
1,807
-
135
1,900,765
369,296
-
-
-
369,296
238,373
-
-
-
238,373
-
-
-
-
-
145,081
-
-
-
145,081
301,927
53,288
-
-
355,215
676,615
-
-
-
676,615
-
-
14,096
-
14,096
-
-
1,083
-
1,083
8,372
-
-
-
8,372
1,739,664
53,288
15,179
-
1,808,131
(27,378)
(22,230)
(15,179)
-
(64,787)
102,454
-
8,333
(110,787)
-
(30,985)
26,191
4,794
-
-
44,091
3,961
(2,052)
(110,787)
(64,787)
419,914
29,691
2,082
424,106
875,793
464,005
33,652
30
313,319
811,006		 244,130
241,068
-
109,929
391,242
654,831
199
694
36,084
1,678,177
222,588
-
-
(222,588)
653,205
875,793

All income and expenditure derive from continuing activities. The statement of financial activities includes all gains and losses recognised during the year

The notes on pages 17 to 29 form part of these accounts

14

Northampton Students’ Union (NSU) Annual Report and Accounts for the year ended 31[st] July 2025

Balance Sheet as at 31[st ] July 2025

(Comparative figures for 2024 have been restated under merger accounting)

Note
Fixed assets
Intangible assets
6
Tangible assets
7
Current assets
Stocks
8
Debtors
9
Cash at bank and in hand
Current Liabilities
Creditors: amounts falling due within one year
10
Net current assets / (liabilities)
Net assets
Representing Charitable Funds:-
Capital Grant Fund
Capital Grant
13
Restricted Income/ Custodian Funds
RAG Reserve
14
Club & Society Reserve
15
Minibus Reserve
16
Unrestricted Income Funds
Undesignated Fund
17
Total charity funds
18		 2025
£
8,333
361,120		 2024
(restated)
£
-
460,410
369,453
42,340
72,523
414,695
529,558
(88,005)
441,553
811,006
313,319
30
33,652
-
33,682
347,001
464,005
464,005
811,006		 460,410
27,758
101,034
389,285
518,077
(102,694)
415,383
875,793
424,106
1,113
29,691
969
31,773
455,879
419,914
419,914
875,793

Total charity funds

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

Approved by the board of trustees (who are also the directors of the charitable company for the purposes of company law) on 22[nd] January 2026 and signed on its behalf by:

………………………………………….

Muhammed Hafiz -Trustee / Director

………………………………………….

Sarah Johnston -Trustee / Director

The notes on pages 17 to 29 form an integral part of these financial statements

15

Northampton Students’ Union (NSU) Annual Report and Accounts for the year ended 31[st] July 2025

CASHFLOW STATEMENT FOR THE YEAR ENDED 31st JULY 2025

Note
Cash flow from operating activities
22
Interest paid
Net cash flow from operating activities
Cash flow from investing activities
Payments to acquire tangible fixed assets
Receipts from sales of tangible fixed assets
Interest received
Grant income received
Net cash flow from investing activities
Cash flow from financing activities
Receipts from issue of new long term loans
Repayment of long term loans
Repayment of finance lease liabilities
Interest paid
Net cash flow from financing activities
Net increase in cash and cash equivalents
Cash and cash equivalents at 1st August 2024
Cash and cash equivalents at 31st July 2025
Cash and cash equivalents consists of:
Cash at bank and in hand
Short term deposits
Cash and cash equivalents at 31st July 2025		 2025
£
58,614
-
58,614
(33,204)
-
-
-
(33,204)
-
-
-
-
-
25,410
389,285
414,695
414,695
-
414,695		 2024
(restated)
£
417,487
-
417,487
(85,695)
-
-
-
(85,695)
-
-
-
-
-
331,792
57,493
389,285
389,285
-
389,285

The notes on pages 17 to 29 form part of these accounts

16

Northampton Students’ Union (NSU) Annual Report and Accounts for the year ended 31[st] July 2025

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31[st] JULY 2025

1 Summary of significant accounting policies

(a) General information and basis of preparation

The Northampton Students’ Union Limited is an incorporated charitable company limited by guarantee, incorporated in the United Kingdom under the Companies Act 2006. The Union is recognised by the University as the representative body for students in accordance with the Education Act 1994. The registered office address is shown on page 3 of these financial statements.

The nature of the charity’s operations and principal activities are to support students at the university as they progress through their studies by providing guidance and support for educational needs; delivering welfare awareness campaigns; providing personal and team development opportunities, through sports clubs and other societies; and providing social space and activities.

The charity constitutes a public benefit entity as defined by FRS 102. The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1[st] January 2019), including the provisions of Section 1A applicable to small entities, the Charities Act 2011, the Charities (Accounts and Reports) Regulations 2008, the Companies Act 2006, and the UK Generally Accepted Accounting Practice.

The financial statements are prepared in sterling which is the functional currency of the charity and rounded to the nearest £.

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

Merger accounting

On 1 March 2025, the activities, assets and liabilities of The University of Northampton Students’ Union (an unincorporated charity) were transferred to Northampton Students’ Union Limited.

The combination has been accounted for as a merger in accordance with the Charities SORP (FRS 102). Comparative figures have been restated as if the charitable company had been in operation throughout both financial years presented.

(b) Going concern

The financial statements are prepared on a going concern basis as the charitable company receives the continued support of the University of Northampton. The trustees have considered the level of funds held and the expected level of income and expenditure for 12 months from authorising these financial statements. The budgeted income and expenditure is sufficient with the level of reserves for the charity to be able to continue as a going concern.

(c) Financial instruments

The charity only has financial assets and liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are recognised at transaction value and subsequently measured at their settlement value.

(d) Incoming resources

All income and capital resources are recognised in the Statement of Financial Activities (SOFA) when the charitable company is legally entitled to the income and the amount can be quantified with reasonable certainty. Where applicable, the University grant of free serviced accommodation on the campus is accounted for as income and expenditure of the year at an estimated value to NSU by reference to the alternatives available on the commercial market.

17

Northampton Students’ Union (NSU) Annual Report and Accounts for the year ended 31[st] July 2025

1 Accounting Policies (continued)

(e) Fund accounting

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

Designated funds comprise unrestricted funds that have been set aside by the trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements.

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the charity for particular purposes. The cost 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 statements.

Custodian funds entrusted to NSU for safekeeping, but not under its management control, eg, Clubs & Societies funds. Such custodian activities are disclosed separately in the financial statements.

(f) Expenditure recognition

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

Irrecoverable VAT is charged as an expense against the activity for which expenditure arose. Charitable expenditure comprises the direct and indirect costs of delivering public benefit. Governance costs are those incurred for compliance with constitutional and statutory requirements. Such as the annual audit, annual elections, and training for sabbatical officers. Where applicable, the value of free serviced campus accommodation is apportioned on estimated floor space occupied. Other central overhead costs are apportioned to charitable and other projects/ activities on a usage basis, pro rata to the total costs of each project or activity undertaken.

(g) Support and central overhead costs allocation

The charity allocates expenditure to activities on a functional basis in accordance with the Charities SORP. Costs are attributed directly to the activity to which they relate whenever this is practical. Overheads that can be clearly identified with a specific activity are allocated to that activity.

Where overheads cannot be directly attributed to a particular activity, they are initially recorded within Advice & Representation. These costs, together with other central overheads included within the Advice & Representation category, are subsequently apportioned across all activities based on the relative proportions of directly allocated overheads. This ensures that central support costs are shared across activities in a manner that reflects their overall use of resources.

An exception to this method applies to rent & rates, which are apportioned across activities based on the income generated by each activity during the year. This basis is considered to provide the most reasonable reflection of how premises-related costs support the charity’s operations.

Central overheads therefore form part of the Advice & Representation line prior to reallocation, and the resulting proportionate share is included within each activity’s total cost.

(h) Tangible fixed assets

Tangible fixed assets are stated at cost (or deemed cost) less accumulated depreciation. The charity enforces a policy by which assets below the value of £500 cost per item/set will not be capitalised.

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

Fixtures, fitting and equipment - 25% straight line Motor vehicles - 25% straight line Improvements to property - 10% straight line

18

Northampton Students’ Union (NSU) Annual Report and Accounts for the year ended 31[st] July 2025

1 Accounting Policies (continued)

(h) Tangible fixed assets (continued)

Grant income for the purpose of purchasing fixed assets is held within a separate Capital Grant Fund on the balance sheet. This fund is released to the unrestricted income funds through a fund transfer, consistent with the depreciation, impairment and profit/loss on disposal of the purchased fixed asset in the financial statements.

(i) Intangible fixed assets

Intangible fixed assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less accumulated amortisation and any accumulated impairment losses.

Website development is being amortised evenly over its estimated useful life of 5 years.

(j) Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing stock to its present location and condition. Cost is calculated using the first-in, first-out (FIFO) formula. Provision is made for damaged, obsolete, and slow-moving stock where appropriate.

(k) Debtors and creditors receivable / payable within one year

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

(l) Impairment

Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset’s cash generating unit, is estimated, and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in expenditure unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.

(m) Grant income

Grants are recognised based on the accrual model and are measured at the fair value of the asset received or receivable. Grants are classified as relating either to revenue or to assets. Grants relating to revenue are recognised in income over the period in which the related costs are recognised. Grants relating to assets are recognised over the expected useful life of the assets. Grants that do not impose specific performance-related conditions are recognised as income when receivable.

(n) Tax

The charity is an exempt charity within the meaning of schedule 3 of the Charities Act 2011 and is considered to pass the tests set out in Paragraph 1 Schedule 6 Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes.

(o) Leases

Rentals payable under operating leases are charged as expenditure on a straight-line basis over the period of the lease.

(p) Pension costs

The charity operates a defined contribution pension scheme. Contributions payable to the charity’s pension scheme are charged to the expenditure in the period to which they relate, apportioned to charitable and other projects/ activities on a usage basis, pro rata to the total costs of each project or activity undertaken.

19

Northampton Students’ Union (NSU) Annual Report and Accounts for the year ended 31[st] July 2025

1 Accounting Policies (continued)

(q) Judgements and key sources of estimation uncertainty

The following judgements and estimations have been made in the process of applying the above accounting policies that have had the most significant effect on amounts recognised in the financial statements:

Useful economic lives of tangible fixed assets

The determination of the useful economic lives of assets involves judgements and estimations that materially impact the depreciation charges within the financial statements. This judgement also affects the rate at which the related fund transfers (capital grant fund) is released, which is unwound over the useful life of the related asset. The carrying amount of fixed assets is disclosed in note 7, and the balance of the capital grant fund is disclosed in note 14. The depreciation rates applied are set out in accounting policy (h).

The key assumptions concerning the future and other key sources of estimation uncertainty at the reporting date that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year include:

2 Charitable and other Activity costs

Charitable activities
Bar and catering
Retail
Events
Marketing
Clubs & societies
Advice & representation
Governance		 COS
Staff costs
Rent &
rates
Other
costs
2025
Total
£
£
£
£
£
50,298
131,511
44,264
143,223
369,296
71,901
67,744
85,337
13,391
238,373
-
-
-
-
-
-
57,721
5,853
81,507
145,081
-
92,323
5,354
204,250
301,927
-
521,658
-
154,957
676,615
-
2,466
-
5,906
8,372
122,119
873,423
140,808
603,234
1,739,664		 2024
(restated)
Total
£
244,130
241,068
-
109,929
359,903
654,831
36,084
1,645,945

Included in the above governance costs is the annual audit fee of £9,000 (2024: £7,500) covering the audit and the preparation of accounts for the merged entity.

3 Central Overhead Costs included in Note 2

Income
based
Usage
based
Charitable activities
%
%
Bar and catering
31%
12%
Shops
61%
5%
Events & security
-
-
Marketing
4%
5%
Clubs & societies
4%
11%
Advice & representation
-
66%
Governance
-
1%
Totals		 Staff
Rent &
Rates
Other
Total
£
£
£
£
95,748
44,264
28,442
168,454
45,082
85,337
13,391
143,810
-
-
-
-
41,014
5,853
12,183
59,050
87,365
5,354
25,951
118,670
521,658
-
154,957
676,615
2,466
-
732
3,198
793,333
140,808
235,656
1,169,797

20

Northampton Students’ Union (NSU) Annual Report and Accounts for the year ended 31[st] July 2025

Central overheads are costs necessary for the delivery of the charity’s activities but cannot be directly attributed to a single activity. Where possible, support costs are first allocated directly to the relevant activity. All other support costs are initially recorded within Advice & Representation and are subsequently apportioned across the charity’s activities using the usage percentage splits shown above. These percentage splits are derived from the proportion of directly allocated overheads for each activity.

An exception applies to rent & rates, which are apportioned across activities based on the income generated by each activity during the year.

Included within the support cost totals is £75,563 of gifted services, recognised at a reasonable estimate of their external cost. These donated services have been allocated across activities using the same methodology described above, and the corresponding income is shown within the Statement of Financial Activities.

Other Costs comprised:
Insurance
Telephone
Repairs and renewals
Legal & professional
Printing & stationery
Finance charges
Sundry expenses
IT Costs
Training
HR Costs
Irrecoverable VAT
SLT Projects
Agency Staff
Loss on disposal		 £
21,789
2,741
8,622
11,216
865
4,197
4,916
14,513
13,525
29,564
22,098
82,595
17,968
1,047
235,656
4
Staff Costs
Wages and salaries
Student labour
Social security
Pension costs		 2025
2024
(restated)
£
£
654,377
673,312
105,619
82,825
56,758
58,270
56,669
56,603
873,423
871,010

During the year there was an average of 47 (2024: 45) members of staff. There was one employee of the Charity whose total emoluments exceeded £60,000; The employees total emoluments fall within the £80,001 to £90,000 band.

The average staffing was as follows: -
Commercial Activities
Administration and Services
Sabbatical Officers		 2025
22
21
4
47		 2024
17
24
4
45

Current year commercial activities employees include a significant amount of part time employees.

21

Northampton Students’ Union (NSU) Annual Report and Accounts for the year ended 31[st] July 2025

5 Trustees’ Remuneration and Expenses

Name
B. Mohan
R. Roy
F. Ajmal
M. Windle
C. Okonkwo
O. Chapman
M. Hafiz
S. Johnston
R. Katariya
Total		 Total
Salary & NIC
Pension
2025
£
£
£
-
-
-
22,694
-
22,694
19,091
-
19,091
-
-
-
57
-
57
24,393
-
24,393
26,717
-
26,717
3,895
-
3,895
3,895
-
3,895
100,742
-
100,742		 Total
2024
£
16,231
25,564
25,564
24,921
1,804
3,414
3,414
-
-
100,912

During the year four trustees were reimbursed for travel, subsistence and training expenses of £2,276 (2024: four trustees - £779).

During the year sabbatical officers O. Chapman and R. Roy stepped down and were replaced by S. Johnston and R. Katariya. Each of the Executive Committee’s sabbatical officers receive a salary as authorised in the Union’s governing document, for the representation, campaigning and support work they undertake as distinct from their trustee responsibilities. This work includes voicing student opinion with the institution and local community, defending and extending the rights of students through petitions, discussions with MPs and organising and supporting student volunteers and service provisions for them.

All trustees not analysed above did not received remuneration or expenses during the year.

6 Intangible Fixed Assets

Intangible Fixed Asset Register:

Cost or Valuation:
At 31stJuly 2024
Additions
At 31st July 2025
Amortisation:
At 31stJuly 2024
Charge for the year
At 31stJuly 2025
Net Book Value:
At 31stJuly 2025
At 31stJuly 2024		 Intangible
Assets
-
8,333
8,333
-
-
-
8,333
-

All assets are used within the Charity for the benefit of the charitable purpose.

22

Northampton Students’ Union (NSU) Annual Report and Accounts for the year ended 31[st] July 2025

7 Tangible Fixed Assets

Tangible Fixed Asset Register:

Cost or valuation:
At 31stJuly 2024
Additions
Disposals
Re-classification
At 31st July 2025
Depreciation:
At 31stJuly 2024
Charge for the year
Eliminated on disposals
Re-classification
At 31st July 2025
Net book value:
At 31st July 2025
At 31stJuly 2024		 Improvements
to property
Fixtures,
fittings and
equipment
Motor
Vehicles
Total
£
£
£
£
942,800
214,750
33,332
1,190,882
9,089
15,784
-
24,873
-
(49,556)
-
(49,556)
-
-
-
-
951,889
180,978
33,332
1,166,199
541,324
189,148
-
730,472
94,996
19,786
8,333
123,115
-
(48,508)
-
(48,508)
-
-
-
-
636,320
160,426
8,333
805,079
315,569
20,552
24,999
361,120
401,476
25,602
33,332
460,410

All assets are used within the Charity for the benefit of the charitable purpose.

8 Stocks

Stock 2025
2024
(restated)
£
£
42,340
27,758
42,340
27,758

All stock held is for the benefit of the charitable purpose.

9 Debtors

Trade debtors
Other debtors
Prepayments and accrued income		 2025
2024
(restated)
£
£
13,883
48,254
26,000
27,800
32,640
24,980
72,523
101,034

23

Northampton Students’ Union (NSU) Annual Report and Accounts for the year ended 31[st] July 2025

10 Creditors: Amounts falling due within one year

Trade creditors
Accruals & deferred income
Other creditors		 2025
2024
(restated)
£
£
36,405
56,440
24,496
20,517
27,104
25,737
88,005
102,694

11 Operating Lease Commitments

Total future minimum lease payments under non-cancellable operating leases are as follows:

Within one year
Between one and five years
Five plus years		 2025
2024
(restated)
£
£
58,800
58,800
235,200
235,200
1,058,400
1,117,200
1,352,400
1,411,200

The charity is committed to one operating lease, for the rental of the Engine shed based on the campus. The lessor has the right to determine the termination terms with immediate effect by giving notice to the tenant. Lease payments recognised as expense in the current year total £58,800.

12 Deferred income

At 31stJuly, 2023
Additions during the year
Amounts released to income
At 31stJuly, 2024
Additions during the year
Amounts released to income
At 31st July 2025		 Under 1 year
Total
£
£
3,711
3,711
5,000
5,000
(360)
(360)
8,351
8,351
-
-
-
-
8,351
8,351

Deferred income represents grant funding received in advance of the period to which it relates or for which the conditions attaching to the funding had not been met at the year end. In accordance with the Charities SORP, income from such grants is recognised only when the charity is entitled to the income, performance conditions have been met, and the income can be measured reliably.

At the year-end £3,361 of deferred income related to the grant received from Northamptonshire Sport. The conditions relating to the balance of this grant had not been fulfilled at the year-end date, and therefore the unspent balance has been deferred.

The remaining deferred income relates to a number of other restricted grants received for specific charitable activities and project delivery. These grants are not required to be disclosed individually and none are considered individually material. The associated income is deferred until the relevant conditions have been met or the related expenditure has been incurred.

24

Northampton Students’ Union (NSU) Annual Report and Accounts for the year ended 31[st] July 2025

13 Capital Grant Fund

At 1stAugust 2024
Funding for capital expenditure
Amortisation
At 31st July 2025		 2025
2024
(restated)
£
£
424,106
482,259
-
47,002
(110,787)
(105,155)
313,319
424,106

The capital grant fund is a designated fund. The fund is to be used for improvement to the student union properties at the discretion of the trustees. Amortisation of the fund is released as a fund transfer to the fund the relating depreciation and profit/loss on disposal is incurred within.

14 RAG Fund

Funds held at 1stAugust 2024
Funding received
Fundraising costs
Fund transfers
Donations paid
Funds held at 31st July 2025		 2025
£
2024
(restated)
£
1,113
-
-
1,807
-
-
-
-
(1,083)
(694)
30
1,113

The RAG fund (raising and giving fund) is a restricted fund for the raising and donation of money for charitable purposes.

15
Student Society/Club
_material_funds held were:-
Clubs:
American Football
Archery
Badminton
Boxing
Cheerleading
Climbing
Dance
Equestrian
Flag Football
Futsal
Lacrosse
Men’s Football
Men’s Rugby League
Men’s Rugby Union
Men’s Volleyball
Netball
Rounders
Self Defence
Women’s Football
Women’s Hockey
Women’s Rugby Union
Women’s Volleyball
Clubs sub-total		 Brought
Income
Expenditure
(including
reserve
transfer)
Carried
Forward
for Fund
(including
reserve
transfer)
Forward
£
£
£
£
-
14,499
(14,499)
-
287
250
(318)
219
-
-
(124)
(124)
82
125
-
207
1,421
741
(1,019)
1,143
-
633
(494)
139
1,793
10,832
(8,268)
4,357
1,119
1,365
(1,162)
1,322
-
125
-
125
1
-
-
1
25
125
(37)
113
-
642
(642)
-
204
-
(51)
153
985
250
(1,457)
(222)
89
1,004
(132)
961
1,032
180
(502)
710
405
346
-
751
-
125
-
125
38
444
(36)
446
860
-
-
860
3,685
-
(2,330)
1,355
27
900
-
927
12,053
32,586
(31,071)
13,568

25

Northampton Students’ Union (NSU) Annual Report and Accounts for the year ended 31[st] July 2025

Societies:
Afro-Caribbean Society
Anime Society
Art Society
Artificial Intelligence Society
Book Society
British Sign Language Society
Business Society
Certified Society
Christian Union Society
Computing Society
Corium Club Society
Crochet Society
Debate Society
Desi Society
Esports and Gaming (Electronic Sports)
Society
Film Makers Society
Fist Love Society
Hindu Society
History Society
Human Rights Society
Inter Collegiate Prayer Fellowship Society
Islamic Society
K POP Society
Law Society
LGBT Society
Life Drawing Society
Mature Students Society
Midwifery Society
Model United Nations
Nursing Society
Occupational Therapy Society
PENSA Society
Pole Fitness Society
Photography Society
Podiatry Society
Politics Society
Project Management Society
Psychology Society
Real Talk Society
Robotics Society
Royal Diadem Society
Sociology Society
Sri Lankan Society
Student Voices For Palestine Society
The Asia Society
The Green Society
Treasure House
Vietnamese Society
Vinecity Campus Fellowship
Societies sub-total
Total		 2,953
1,504
(2,373)
2,084
2,120
1,480
(2,978)
622
125
130
(35)
220
530
676
(676)
530
848
-
(848)
-
-
624
(515)
109
-
430
-
430
-
9,631
(8,932)
699
-
504
(174)
330
411
-
(411)
-
919
20
(41)
898
125
1,115
(547)
693
-
530
-
530
45
-
-
45

210
813
(356)
667
14
-
(14)
-
707
20
(20)
707
333
206
(398)
141
97
91
(97)
91
393
-
(393)
-
-
300
(300)
-
275
548
(112)
711
-
600
(100)
500
277
-
(21)
256
782
870
(466)
1,186
125
20
(18)
127
-
20
(20)
-
788
20
(16)
792
-
69
(69)
-
2,519
920
(920)
2,519
-
1,222
(490)
732
-
20
(20)
-
2,331
4,680
(4,560)
2,451
-
195
(70)
125
71
-
(71)
-
-
20
(23)
(3)
125
675
(99)
701
300
901
(319)
882
-
20
(20)
-
-
125
-
125
38
-
(38)
-
72
-
(72)
-
-
242
(242)
-
-
20
(20)
-
-
48
(48)
-
-
20
(20)
-
-
130
(130)
-
105
444
(365)
184
-
20
(20)
-
17,638
29,923
(27,477)
20,084
29,691
62,509
(58,548)
33,652

Club and Society funds are custodian funds. The balances are the money held by the Students’ Union on behalf of the club or society to be used at to be used at their discretion. The fund transfers included within the above figures are the issue and clawback of unrestricted funds to or from the clubs and societies funds. Net funds of £26,191 were issued during the year from unrestricted funds.

26

Northampton Students’ Union (NSU) Annual Report and Accounts for the year ended 31[st] July 2025

16 Minibus Reserve

16
Minibus Reserve
At 1stAugust 2024
Income
Expenditure
Fund transfers
Balance at 31st July 2025		 2025
2024
(restated)
£
£
969
1,168
-
-
(5,763)
(199)
4,794
-
-
969

The minibus reserve is a restricted fund. The fund is restricted to the cost of shuttle services on university grounds.

17 Unrestricted Funds

At 1stAugust 2024
Income
Expenditure
Capital grant amortisation
Fund transfers
Balance at 31st July 2025		 2025
2024
(restated)
£
£
419,914
133,920
1,712,286
1,828,211
(1,739,664)
(1,645,945)
102,454
105,155
(30,985)
(1,427)
464,005
419,914

The unrestricted funds are funding available for use in general Students’ Union activities at the discretion of the trustees. The fund transfers above are the issue and clawback of unrestricted funds to or from the restricted, custodian and capital funds.

18 Analysis of Net Assets between Funds

Fixed Assets
Net current assets
Long term liabilities		 Unrestricted
Funds
Custodian
Funds
Restricted
Income Funds
Capital Grant
Fund
Total
£
£
£
£
£
56,134
-
-
313,319
369,453
407,871
33,652
30
-
441,553
-
-
-
-
-
464,005
33,652
30
313,319
811,006

19 Related party Transactions

The Union receives a recurring grant from the University of Northampton each year, in the current year a grant was received of £1,430,000 (2024: £1,576,097) and further gifted services provided valued at £75,563 (2024: £74,267). Commercial sales of £8,455 (2024: £32,418) were received in the year.

Rental, utility and other costs are also charged to the Union from the University of Northampton during the year of £83,797 (2024: £94,996). The net balance owed from the University of Northampton at the year-end date was £9,266 (2024: £24,284).

The Union incurred costs from University of Northampton Enterprise Limited, a company associated with the University of Northampton, of £233 (2024: £717).

27

Northampton Students’ Union (NSU) Annual Report and Accounts for the year ended 31[st] July 2025

19 Related party Transactions (continued)

Detail of trustee remuneration has been provided within note 5. There are no further related party transactions with trustees.

Northampton Students’ Union Services Ltd (NSUSL) was a wholly owned subsidiary of the Students’ Union and therefore a related party. In May 2024, during the comparative year, NSUSL transferred all assets and operations to UONSU (the unincorporated charity).

No transactions occurred with NSUSL during the current financial year. NSUSL was dissolved on 3 December 2024. The charity did not have subsidiaries at the year-end and therefore no group relationship existed in the current year.

During the year the NSU merged with the unincorporated charity The University of Northampton Students’ Union. Details of the merger, including the principal components of the SoFA for each charity for the current year at the date of the merger and an analysis of the aggregate carrying amount of the net assets at the time of the merger, have been presented on note 20.

20 Charity Merger

The process of transitioning to a Charitable Incorporated Company limited by guarantee was completed on the 1[st] March 2025 with all trade, assets and liabilities transferring on that date. The charity was incorporated on 11[th] May 2024 (Company No. 15714072) and registered with the Charity Commission (Charity No. 1209212). The unincorporated charity (No. 1144827) is now dormant, with no further activities ongoing within the organisation.

Analysis of principle SoFA components for the current reporting period

Total Income
Total Expenditure
Net Income
Other Gains/(Losses)
Net Movement in funds		 2025 UoNSU
Pre-Merger
2025 NSU
Pre-Merger
2025 Charity
Post Merger
2025 Combined
Total
£
£
£
£
906,579
-
836,765
1,743,344
(999,809)
-
(808,322)
(1,808,131)
(93,230)
-
28,443
(64,787)
-
-
-
-
(93,230)
-
28,443
(64,787)

Analysis of the principle SoFA components for the previous reporting period

Total Income
Total Expenditure
Net Income
Other Gains/(Losses)
Net Movement in funds
Total funds brought forward
Total funds carried forward		 2024 UoNSU
2024 NSU
2024 Combined
£
£
£
1,900,765
-
1,900,765
(1,678,177)
-
(1,678,177)
222,588
-
222,588
-
-
-
222,588
-
222,588
653,205
-
653,205
875,793
-
875,793

28

Northampton Students’ Union (NSU) Annual Report and Accounts for the year ended 31[st] July 2025

20 Charity Merger (continued)

Analysis of the aggregate carrying amount of net assets for the current reporting period at the date of merger

Net assets
Represented by:
Unrestricted Funds
Custodian Funds
Restricted Income Funds
Capital Grant Fund
Total Funds		 2025 UONSU
2025 NSU
Combined
Total
£
£
£
782,563
-
782,563
391,168
-
391,168
31,847
-
31,847
2,538
-
2,538
357,010
-
357,010
782,563
-
757,226

No significant adjustments have been made in order to align accounting policies or to net assets as a result of the merger.

21 Control Relationship

Ultimate control of NSU rests with its members, represented by NSU Student council.

22 Reconciliation of net income to net cash flow from operating activities

Net expenditure for year ended 31stJuly 2025
Depreciation and impairment of tangible fixed
assets
(Profit)/loss on disposal of tangible fixed assets
Decrease/(increase) in stock
Decrease/(increase) in debtors
(Decrease)/increase in creditors
Net cash flow from operating activities		 2025
2024
(restated)
£
£
(64,787)
222,458
123,115
110,295
1,047
-
(14,583)
(27,758)
28,510
96,376
(14,688)
16,116
58,614
417,487

23 Financial instruments

There are only basic financial instruments present in the accounts in the year ended 31[st] July 2025 and 31[st] July 2024.

24 Principal risks and uncertainties

All income and expenditure is carried out in Sterling eliminating any foreign currency risk. The majority of income is either grant income or cash income. As a result the credit risk is minimal. The entity relies heavily on funding from the university to carry out its day-to-day activities posing a financial risk. However, this is partly mitigated by the confirmation from the university that it will continue to support this entity over the coming 12 months.

29