Liverpool Guild of students
REPORT AND FINANCIAL STATEMENT5
For the year ended 31 July 2021
Charlty Number: 1137398
Company Number: 07324992

Llverpool Gulld of Students
TRUSTEES REPORT
Forthe yearended 31 Juty 2021
I. REFERENCE AND ADMINISTRATIVE DEfAILS
Oirector5 and Trustees
All dirertors of the company are also trustees of the charlty, there are no other trustee5. The trustees serylng
durin8 the year and slnce the year end were..
Adnan Hussain IRe51Ened 30, July 20211
Imogen De Castro Gray (Appointed 1st August 2020, resigned 30, July 20211
Fflon Thomas IAppointed 1st August 20201
Chloe Field (Appointed 1st AuBust 20201
Robert Woodcock (Appointed 30th July 20211
Jamilia Kwalah-Elllmah IAppolnted 30" July 20211
Pamela Bell-Ashe IResSgned July 20211
Adarn Dawkins
Christine Costello (Reslgned 29, April 20211
Rachel Gnagniko (Appointed 29, April 20211
th
Rlshl Jaln (Appolnted 29 April 20211
Andrew Lang IAppointed 29 AprS120211
Abhilash Kondragant
Pollie Walker IResigned 30 july 20211
Charlotte Sebastian (Resigned 30 July 20211
Trinlty Kerr (Appointed 3(yh July 20211
Jordan Wright (Appolnted 30, July 20211
th
Bryony Lainton (Appointed 30 July 20211
Company Secretary
Tricia O'Neill
Key Management Personnel
Chief Executive
Dlrector of Operatlons
Director of Membership Servi￿5
Dlrertor of Marketing & Communlcations
Tricia O'Neill
Andrew Grlmshaw
Morven Proctor
Slan McGreary
Reglstered offlce
Liverpool Guild of Student5
160 Mount Pleasant
Liverpool
Merseyslde
L3 STR
Audltors
Dain5 LLP
Sulte 2, Alblon House
2 Etruria Office Village
Forge Lane
Etruria
Stoke on Trent
STI 5RQ

Llverpool Guild of Students
TRUSTEES REPORT
Forthe year ended 31July 2021
Bankers
The Co-operative Bank p.l.c.,
P.0. Box 101
l Balloon Street
Manchester
M60 4EP
Oeposit Accounts
Soffron Building Society
57 High Street
Wore
Hertfordshire
SG12 9AD
Charltles Ald Foundation
Day Notice Account
Scottlsh Widows Bank plc
PO Box 12757
67 Morrlson Street
Edinburgh
EH3 8YJ
Lloyds Bank
PO Box 545
Faryners House
25Monument Street
London
EC3R 8BQ
Shawbrook Bank Ltd
Lutea House
Warley Hill Busines5 Park
The Drive
Great Warley
Brentwood
E55ex
CM13 3BE
Cambrldge Bulldlng Soclety
PO Box 232
51 Newmarket Road
'Cambridge
CB5 8FF

Llverpool Gulld of students
TRUSTEES REpoirr
Forthe year ended 31 July 2021
The Hanley Economic Buildin8 Society
Off Forge Lane
Granville House
Festlval Park
Hanley
Stoke-on-Trent
STI 5TB
Close Brothers
10 Crown Place
London
EC2A 4FT
Flnance and buslness advlsors
countercultu￿ Partnershlp LLP
Unit 115 Ducle House.
Ducle Street,
Manchester, Ml 2JW
Insurance Brokers
Endsleigh Business Insurance Sewlces
Hadley House
ShurdinEton Road
Cheltenham Spa
GIoU￿sterSh1re
GL514UE
Sollcltors
Governance, charity and corporate law
Bates, Wells and Braithwaite London LLP
2-6 Cannon Street
London
EC4M 6YH
Employment and commerclal law
Weightmans LLP
India Buildings
Water Street
Liverpool
L2 OGA
A5 allowed undersertion 60 of the Companie5 Act 2006 the company is exempt from the requirementto use
'Ilmited"

Llverpool Gulld of Students
TRUSTEES REPORT
Forthe yearended 31 July 2021
I. STRUCWRE, GOVERNANCE & MANAGEMENT
Govemin8 Document
Liverpool Gulld of Students Is a Students, Union within the meaning of the Education Act 1994.
The Guild is devoted to the educational Snteiests and welfare of its members, and is an
ndependent representatlve body of students at the University of Liverpool. We are an
Incorporated Charity and a Company Limited by Guarantee without Share Capital.
We are governed by a Memorandum & Artlcle5 of Association effertlve from l August 2010, and
set of Bye-laws, both approved by the membershlp, the Unlversity of Llverpool, and the Charltv
Comm1551on, We also have a Memorandum of Understanding wlth the UnlversSty of Llverpool.
The Artlcles of Assoclatlon stste the Gulld's prlnclpal objectlves as belng:
'B. The Gulld wlll seek at all tlmes to..
(i) ensure that the diverslty of Its Membership Is recognised and that equal access Is
avallable to all Members of whatever orlgln or orlentatlon,.
(li) pursue its aims and objectives independent of any political party or religious group,.
and
(lil) pursue equal opportvnities by taking posltive actSon wlthln the law to facllltate
participation gf groups discriminated against by 50ciety.
These Articles have been structu￿d to glve the Board of Trustees reasonable authorlty to
manage the affairs of the Guild in a professional manner. The Member5 enjoy the ri8ht, which
must be exercised in accordance with charity law, to elect a proportion of the Trustees and to
dismiss all of the Trustees. The Board of Trustee5 will 8ive the utmost consideration to the
views of Members.
Under the Educatlon Acl 1994, the UnSverslty of Liverpool has 8 statutory duty to ensure that
the Gulld operates In a fair and democratic manner and is held to proper account for its
finances. The Guild therefore works alongslde the University of Llverpool in ensurlng that the
ffairs of the Guild are properly conducted and that the educational and welfare need5 of the
Guild's Members are met."

Liverpool Guild of Students
TRUSTEES RÈPORT
Forthe year ended 31 July 2021
Appolntment ol TNstees
Our Board of Trustees 15 responsible for ensurlngthe organlsation remalns fit for purpose, and
for settlng the strategy of the organi5atlon in consultation with 5enior5taff. It also approves all
policy, our annual budget, and monltors organlsational performance against agreed key
performance indicators IKPlsl.
The membership of the Tmstee 8oard is deflned as follows..
Four Student Representative OfficerTrustee5
Four Student Trustees
Four External (Co-opted) Trustees
The Sttsdent Representatlve Offi￿r ISROI Trustees are elected by the entire membership durinE
a cros5 campu5 election, and hold office for 12 months. A5 directed by the Education Art 1994,
they are able to serve a maxlmum of two terms. The Student Representative Officers are the
major unlon office holders descrlbed in the Education Act119941.
The four Student Trustee5 are positions that are advert15ed and then appointed to by the Board,
and serve for a term of two years-although they must be reglstered students at the Unlverslty
of Liverpool to hold office.
The four External Trustees are also posltlons that are advertlsed and then appolnted to by the
Board. They are recruited for on the basis of their expertise and experience, and hold office for
a term of fouryears. External Trustees can serve for two terms.
Trustee Induction and Training
All new Trustees narticlpate In a comprehenslve Inductlon programme, whith includes..
Tralnlng- these are both skllls and knowledEe based;
Introductlons to key staff and other Trustees: and
Copies of the Unlon's key ptsllcy, governance and financial documents.
On-goihg tralnlng needs for Student Representative Offlcer Trustees are monitored by the Chief
Executive through 1-2-ts and regular catch-up meetlngs. Student Trustees are allocated an
External Trustee to act as a mentor, and to support them in their role.
Organisation
Trustee Board
The Board of Trustee5 administers the charity. The Board meets six times a year and there are
three standing subcommittees convened under Article 45 of the Artl¢les of K5soclatlon coverlng
operational areas of the Board's remlt.
Resources & Audlt Commlttee
A5 lald out in Bye-law 5, the Resources & Audit Commlttee Is responsible for all flnanclal
matters of the organisation.

Llverpool Gulld of Students
, TRUSTEES REPORT
Forthe year ended 31 July 2021
Governance & A
ointments Committee
A5 lald out in Bye-law 6, the Governance & Appolntments Committee is responsible for
appolntlng new Trustees, monitoring the effectiveness of the Board and acting as a dlscurslve
forum for 611 matters relatlng to effective governahce.
CEO Mana
ement Committe
As lald noted In Bye-law 2, there Is a CEO Management Committee.
Gulld Summit
The Guild Summit is made up of 50 students, who are selected by sortltion to reflect the wider
student body, and has the following authority la5 set out in the Article51:
Make recommendations to the Trustees,.
o Discuss and debate i55ues pertlnent to students,.
Make non-binding motions of no-confidence in one or a number of Trustees; and
o ConslLler any buslnes5 referred to Gulld Summlt by the Trustees and other Guild bodles.
Under our artlcles, we are requlred to hold an Annual Member5 Meetlng each yeari presenting
our accounts and t.he Trustee5 Annual Report to the membershlp. Due to Covld 19, and
assoclated lockdown, the Annual Members Meeting wa5 unable to take place this year.
Chief Exec
ive
A Chief Executive is appointed by the Trustees to manage the day-to-day operatlons of the
charity. To facilitate effective operations, the Chief Executive has dele8ated authority, within
terms approved by the Trustees, for operations includlng finance, employment, Guild
operatlons, governance, membershlp services, marketlng and communications, and other
related activity.
Related Partles and Co.operatlon wlth Other Organlsatlons
The University of Liverpool is the parent institution of Liverpool Guild of Students. The Gulld
received a revenue block grant in the year from the University of Liverpool of £1,716,386.
The Gulld a150 occuples a bullding Dwned by the Universlty, whlch also pays for utllities. Thls
non-monetary support Is intrinsic to the relationship between the University and the Guild.
The Gulld Presldent is a member of Unlversity Council.
Although recommended by the Charities SORP, which has been adopted for this and future
financial years for due compliance with the requlrements for Students, Unions provlded for
in the Charitles Act 2011, It Is not P05slble to identrfy an estimated value to the Guild for this
free Serviced accommodation as the Universlty does not provide separate property values for

Llverpool Guild of Students
TRUSTEES REPORT
Forthe year ended 31 July 2021
Its buildings tothe occupiers. Although the Guild continues to generate supplementary fundin8
from various mutual tradlng actlvltles, It wlll always be dependent on the Universlty'ssupport.
The Trustees conslder St reasonable to anticlpate that thls or equivalent support from the
Universlty will continue for the foreseeable future, as the Education Act 1994 irnp05es a dutv
on the Unlverslty to ensure the flnanclal vlablllty of Its student representatlve body in one
form or another. The Trustees therefore consider the Guild to be financially viable for the
foreseeablefutLfre.
Pay Pollcles for Senior Staff
'The remuneration of key management personnel is set by the Board, with the pollcy oblectlve
of ensuring that they are provided with appropriate incentives to encourage enhan￿￿
performance and are, in a fair and responslble manner, rewarded for thelr indlvldual
contributions to the Guilds succes5. Delivery of the Guilds charitable vision and purpose is
primarily dependent on our key management personnel and staff costs are the largest single
elementof our charitable expenditure.
In 2018, an organlsatlon wlde pay-review was carrled out to ensure salaries were In keeping
with comparable ¥oles within the sector, and more wldely.
Rlsk Management
The Board, through the Re50urce5 and Audlt Committee, reviews the Guilds tU￿ent and
planned future activitie5 in the light of any major risks arising from time to time and the
effectlveness of systems and procedures designed to manage them. The prlnclpal risks and
uncertaintie5 currently facing the Guild are considered to be:
Malntalning effectlve governance of the organisation, Includlng:
o Ensuring appropriate skills on the board; and
Ensuring approprfate and tlmely reportlng to the Board.
Failure to maintain staff register of interests / h05Pltalty record
o Deterioration in the relatlOn5hip with the University, including contracts
Loss of key staff or untralned stsff
o Failure to maintain financial he3￿h of the Guild, including:
o Poor tradlng and Increase In local competltlon,. and
o Decrease in student spending power.
o Reputatlonal damage In the unllkely event of a hlgh-proflle actlvlty by a student
o Serious accident / death during a student activity
o Alienating stakeholders through lobbylng actlvlty
o Change in Government pollry, In partlcular In relatlon to Hlgher Educatlon, Students.
UnSon and charitles.

Llverpool Gulld of Students
TRUSTEES REPORT
For the year ended 31 July 2021
On 30 July 2020, the Trustee Board approved an addendum to the reglster, detalling Covid-19
related risks. These have remained a focu5 throughout 2020-21. They are..
Poor tradlng- That government regulat5ons or local lockdowns could constraln
capaclty to trade.
Loss-maklng tradlng actlvltles- That limlted capaclty to trade Could impact ability
to maintain a healthy surplus.
Serlous a¢¢ldent / death durlng a student activity-That a student could contract
Covid while in the Guild or taking palt In a Gtslld activity.
Damage to reputatlon- Potentlal ol local lockdown5 being attributed to student
behaviour, or a cluster contagion event happening In the Gvlld or durlng a Gulld
actlvlty.
Our plans and strategles for managing rlsk Include malntalnlng effective Internal controls,
risk registers, incident-reporting and monitor5ng systems and insurance cover wherever
approprlate.

Liverpool Guild of Students
TRUSTEES REPORT
Forthe year ended 31 July 2021
OUR PURPOSES AND ACTIVITIES
Purpose
The Guild's Strategic Plan 2019-22 outllnes how the organlsation wlll achieve Its mission to offer
excellent opportunitles, services and facilitles whlch improve, enrlch and develop the Ilves of all
students at the Unlverslty of Llverpool.
The Gulld's Artl¢les identifie5 Its charitable objects as follows:
he advancement of educatlon of Students at the Unlversity of Llverpool for the public beneflt bv.'-
provldlng opportunltles for the expresslon of Student oplnlon and attlvely representln
supporting and 3dv15inE Students,.
actlng as the recognlsed representatlve channel of communlcatlon between Students and
the University of Liverpool and other external bodies-
promotlng the Interests and welfare of Students at the Unlverslty of Llverpool,.
facilitatingsocial, cultural, sporting and recreational activities and forumsfor di5cussion5 and
debate forthe personal development of Its Students, and provldlng servlces and support for
its Students; and
working wlth other st￿dents, unions and affiliated bodies."
Publlc Beneflt
In pursuit of these aims for the public benefit, the Guild will ensure the dlverslty of Its membershlp Is
recognlsed, valued and supparted and has established departments and services for use by it5
members and to support Its work with the University of Liverpool and other organlsatlon5 on behalf of
students. These .include membership services, social enterprlse. and marketlng and
cornmunications.
The Guild continues to represent the students of the Universlty on relevant local, natlonal and
internatlonal issues. The Student Representative Offlcers sit on C￿erEnUn1verSitV commlttees, covering
a wide range of aspects of the student experlence. In addltion, offlcers sit on a number of committees
witINn the aty,fcioJ55inE ontopicssuch a55tudentsatety,and the night-time economy.
The Gulld and Unlverslty jolntly runs a Course Representatlve System, whlch ensures student volces
throughout.Universlty decision making.

Liverpool Guild of Students
TRUSTEES REPORT
Forthe year ended 31 July 2021
Pollcle5 relatlng to grant maklng
Liverpool Guild of Students retognlses the Importance of student activity, and endeavours to provide
meaningful support to Students running societles. In addition to logistical support, and the provlslon
of venue spaces, the Gulld makes available a pot of money for societies to bld into.
Societles are invlted to apply forfundSng from thls pot to support their attlvlty. Applicatlons may range
from runnlng one-off events, to the ongoing development of a Group. Since September 2014, a rnodel
of partlclpatory budgetlng, has been used to allocate these funds, putting decislon maklng Inthe hands
of student socletles. Agreed crlteria help ensure that decisions are in Ilne with the Gulld's charitable
objects, whilst giving participants the flexlbility to a8ree prioritie5 and work collertlvety.
In 2020-21 all societles were given £50 to fund welcome actI￿ty. Money that was not used wa5
recouped bythe Gulld laterin the year, soit could be redistributed through the process outlined above.
In previous years, socleties had to charge membershlps fees of at least £3.00. In 2020-21, in response
to the anticlpated Impact of Covid on levels of activity, membership charges were stopped.
Artlvltles
The Guild undertakes and facilltates a wide range of 5ervice5 and activities:
Social Enter
rise
Soclal Enterprlse brlng5 together the retail, venues 2nd Ilcensed trade actlvltles of the Guild.
The Guild's venues provide students with a place to meet, a Starbucks Coffee shop and bar
spa￿. The Guild works c105ely with Hospitality Llverpool, who provide a range of food within
the Courtyard and Sphinx.
The Guild houses Liverpool's Second lèrge5t Ilve muslc venue, the Mountford Hall. Thls venue Is
sed for external glgs, as well as award5 ceremonies, performances and formal dinner5.
spa￿ Is avallable for socSetles to book for events for a range of actlvlties, Includlng
performances, dinners and external speakers. Venues staff provide advlce and supportto groups
wlshing to book thls space and the necessary technlcal support to deliverthelr events.
The Gulld also operates a shop, selling a range of pastles, confectionary, sandwiches, hot and
cold drinks, stationery, clothing and toiletries. In addition, the Gulld runs an onllne shop selllng
a range of University crested clothing.
Membershl Services
The Membership Services Department 15 made up of three moin teams- Advocacy, Democracv
and Campaigns, and Student Activltles.
io

Llverpool Gulld of Students
TRUSTEES REPORT
Forthe year ended 31 July 2021
The Advocacy Team's work includes supporting and developlng course representatives,
provldlnB academlc, housing and wellbeing advice, and supporting Guild offi￿r5 in committee
activlty.
The Democracy and Campaigns Team facllltate student-led campalgnlng. They also ensure the
Guild is a democratic, involvin8 organisation, through delivering elections, admlnlstering the
Guild's Change It platform and faci1St8tSng meetlngs of the Summlt.
The Student Activitles team sUPPOrt the work of student societies and provlde volunteerlnE
opportunitie5, offering 5tudent5 the chance to lead activity, develop new skllls and meet other
Students. They work closely with the University to develop Hall Students Committees, en5urin6
that Students have the best P055ible experience livlng in UnSversity accommodation. The team
a150 has a range of actlvlty to support sustainability. Working cI05ely wlth Students, the
Universlty and other stakeholders they offer opportunities for students to have a positive impact
on the envlronment around them. Volunteer5 have worked wlth local schools, developed
innovative approaches to sustainability challenges and worked to embed sustainability in the
currSculum. Finally, the team also 5UPPOrt fundraising actlvlty, and admlnlsterthe Gulld's onllne
volunteering platform.
Marketin
The Guild's Marketing Team works across the organisations, to provlde expert marketing
support. Th55 team coordlnate the Guild's main communication streams including all-student
emai15, and social media. They also manage the Gulld's website, which 15 used as a key
communication tool, as well as being an outlet for ticket sales and the platform for Guild
electlons.
The team undertake graphic design worL creatSng assets including Welcome materials.
campalgn resources and pmmotional mater131s for event5.
The.team are also responsible for the generation of medla saSes income, offering opportunities
to market thelr Se￿I￿S and products to students durlng Welcome Week, and throughout the
vear.
The team manage relationshlps wlth the medla, respondlng to enquirSes as well as taklng
proactlve steps to secure positive media eoverage.
li

Llverpool Guild of Students
TRUSTEES REPORT
Forthe yearended 31 Juty 2021
ACHIEVEMENTS AND PERFORMANCE
The focus of the Guild throughout 2020-21 was respondlng to the pandemic. As noted below in
section 5 of this report, the Guild's Strategic Plan was put on hold in 2020, and since theri efforts
have been focused on the more Immedlate need io respond to fast changing situatlon5, both for our
members, and for the organisBtion itself.
Durlng 2020-21, the key achievements were..
Mlnlmlslng the flnanclal Impart to the Gulld
Throughout the year, regular financial reforerdsts were carrled out. These el￿￿re￿
sound financial declslon maklng and enabled ongolng oversight.
o Staff continued to be furlou8hed where possible. Llse of theflexible furlough stheme
enabled the Gulld to meet the needs of members, whlle adherinB to Government
guidelines, and protecting the financial health of the Gulld.
o The Gulld secured a grant from the Arts Councll England's Cultural Recovery Fund.
Representing our members and ensuring a 5tron8 Student voice
o Gulld staff and offlcers contlnued to attend key commlttee5, working Éroups, and
Covld-speclflc prolect group5.
Offlcers successfully campaigned and lobbied on a range of student priorities,
including rent refund5 and support for online learninE. This work was informed by a
wide-ran8ing Surveyi and forums held throu8hout the year.
o Beyond Covld, officers lobbied the University on a range of other issues. This
included working to ensure that the process for renaming one of the Halls ot
Residence was student-led and reflected the values of the Gulld and Its membershlp.
This led to a cross campus ballot, glvlng members the powerto choose the new name
for the halts.
Providing activltles and opportunltles for members
A key alm of 2020-21 was to ensure that a range of 5ervice5 and activities were offered to
member5. This reouired the team to adapt to Changing rules and requiretnents, amending
the offer to members, and how it was delivered.

Llverpool Gulld of Students
TRUSTEES REPORT
Forthe year ended 31 July 2021
o Onllne
A range of Bctivities were delivered online. includin8 file screenings, craft
sessions and frlend-making networks.
Trainlng for socleties, committee members, course representative5 and
election candidates was moved onllne, as was Bystander InteNentlon
tralnln8. Partlclpatlon levels were malntained, and feedback was very
posltlve.
Societies were supported to deliver thelr actlvltles onllne. Over 20,000
individual societies memberships were taken up.
The Gulld's Annual Awards were moved online for the second year runnlnB.
Instsgram was used to announ￿ the shortlist and winners. Nominee5 and
wSnners engaged wlth thls content, sharing It wldely.
The Guild's Student Representative Election5 moved entirely online, with
candidate campaiEning taking place through Social media, in online
meetlngs, and by emall.
o In-person
When Covld regulatlons allowed, the Guild bulldlng was opened to
members. In orderto meet the requirements that were in place at partlcular
stages, the purpose of the space changed over time. At points it was
availablè as socially dIstan￿d study space, whlle at other tlmes it served as
a bar, or fopd outlet. Thls flexiblllty was important in malntalnlng a place on
ampu5 where students could Bo.
Where p0551ble, the Gulld ran face-to.face Give 11 a Go activities, such a5
walklng tour5.
13

Llverpool Gulld of Students
TRUSTEES REPORT
Forthe year ended 31 July 2021
FINANCIAL REVIEW
The prlnclpal Income sources for the Gulld are the block grant provlded by the Unlver51ty of
Liverpool and funds generdted through cornmercial activity.
The Gulld produced a surplus for the finbncial year of £86,886 before the movement on the
pension scheme liability12020: £279,041). Net liabilities at 31 July 2021 stood at £1,123,264
12020.. £1,236,9111. The cash and current asset Investments balance at the flnanclal year end
was £1,796,43412020: £1,918,349).
In summary the Gulld Is In a stable flnanclal posltlon however the Trustees are cognlzant of
future pension liabilities arising from the SU5S pension 5cheme-now closed to accrual for Guild
staff - and the flnancial strategy of the Gulld reflects this rfsk whlle adequatety resourclng on-
going charitable activities.
Investment policy
The Investment Pollcy of the Gulld Is to hold the majorlty of Its reseryes In cash, spreadlng
deposits between financial instttutions in order to mitigate counterparty risk. Cash deposits are
elther instènt access or fixed term wlth the balance belng determlned by cash flow
requirements. The Guild has adopted an Ethical Investment Policy by which financial institutions
are assessed agalnst crlteria before the Guild will make 3 dep(￿fjt with them. Withln the
framework of managlng risk, liquidity and ethlcal standards, the highest interest rates are
selected to maximise Investment return.
Reserves policy and going toncem
The trustees have adopted a reserves pollcy, the oblertive of which Is to protect the Guild and
its charitable activitle5 by ensuring adequate Ilquldltywhllethe organisatlon adlusts to any short
tem) (three to Six months) changes It encounte￿ in Sts flnanclal and operating environment.
Such change5 might Include:
Interruptions to the grant funding from the Unlverslty,.
Provi51on for unforeseen events,.
Staff notice and redundancy payments andlor legal fees in the eventthe Union is wound.
up.
At the same tlme the trustees wanl to ensure reserves are nol too high in order to maximlse the
resources applied to the Gulld's charltable purpose, the ablllty to Invest In the Gulld's flxed
assets to maintaln the qualSty and standards of its service provision, and the ability to meet the
Guild's contrlbution obligation5 to the Student5, Union Superannuation Scheme.
Following this policy* the trustees have set a target of the Gulld holding a mlnlmum of six
months, unrestrlcted operatlng costs In unrestricted funds (not including the pension deflclt
reserve). Based on the 2020121 financial year this target flgure would equate to £1,313,484.
At 31 July 2021 the Gulld held unrestrlcied funds of £1,345,66712020: £1,365,002) equatlng to
102% of the target level, with a separate reserve fund established to account for the pension
deficit. The pension deficltfund slts on the balance sheet as a negatlve reserve set up under"FRS
102 to represent the net present value of the future contribution5 required over 15 years to
clear the pension fund defSclt. At the year end the value of thls deflclt was £3,139,32712020:
£3,323,648).
14

Liverpool Gulld of Students
TRUSTEES REPORT
For the yearended 31July 2021
The trustees Intend the Guild to maintain the target level of reserve5 through continued
Investment In the quallty of the actlvltles and seNices on offer to member5, In order to generale
suffltlent flnancial surpluses to both reinvest in those services, and to 5UPPOrt the reserves
position. On8olnE monitoring of the reseNes Is carrled out by the Resources and Audit
Commlttee on a quarterly basis. The reserves. policy itself is reviewed every three year5 to
coinclde wlth the fundlng cycle of the Students, Union Superannuation Scheme.
The following deslgnated reseryes have been created by the Trustee5 as at 31 July 2021:
Flxed assets fund - £346,849, belng the net book value of fixed asset5 purchased wlth
unrestricted funds- and
Gulld Strategic Development Fund
£50.OtX), being 8 reseNe for Student
Representative Offlcer led initlatives to engage students in LGo5 and to provide Se￿1￿5
to meet membershlp demand.
Elizabeth Gidney Legacy- £54,738, being a reserve for the promotlon of Representation
and Democracy.
Covld 19 Pandemk
The circumstances presented by the Covld 19 pandemic have created challenges for the Gulld In
relation to its financial operating model. A key income stream for the organisation is the revenue
generated through its student faclng tradlng activitles. Opernting restrictions remalned In place
for most of the 2020121 financial year, however the Guild was able to open some Its tradlnE
actlvities a5 those restrictions eased over the year. Even so, trading revenues remalned Ilmited,
nd impacted on the overall income of the Guild. The organisation made good use of
government support grants, and reduced overheads where possible to offset the105t Income.
The budget for the 202V22 financial year wa5 drafted un the basis that the tradlng servi
would be able to re-open 5uccessfullyi and that fewer re5trirtlon5 would be In place across the
year. The core grant from the University of Liverpool has been malntalned for the 2021122
flnanclal year. The initial budget projection15 that the Gulld wlll be able to produce an operatlng
surplus at the end of the financial year. Cash flow forecasts have been revised to look up to 12
months ahead In order for the trustees to accurately assess the organlsation's ability to remain
a going concern, and the board tontinues to receive regularflnanclal updates and prolectlons to
assist them In exerclslng their flnancial responsiblllties.
Goln8 Concern
The Guild has net Ilabilltles of £1,123,264, duetothe recognltlon under Charitles SORP IFRS 1021
of the net present value of the fundin6 deficit on the SUSS pension recovery plan. Further
information 15 detailed in note 28 to the accounts. Thls is a long term commltment whlch ends
In 2035 and the trustees are confldent that annual payments towards this plan wlll be met out
of Income for each year.
15

Liverpool Guild of Students
TRUSTEES REPORT
For the year ended 31 July 2021
After maklng approprlate enqvlrles Includlng vevlewlngflnanclal forecasts for the coming year.
the trustees have a reasonable expectation that the Guild has adequate resour￿5 to contlnue
in operatlonal exSstence for the foreseeable future. Forthls reason, they conilnue to adopt the
going concern basis in preparing the financial statements.
Fundralslng statement
The Guild raises funds outside of the University block grant via commerclal Income through the
operatlon of licensed premises, entertainments, caterin& retall and thlrd-p3rtV 3dvertlslng. The
Guild does not raise funds via the usual fundraising channels that other charitles utlllse. For
example, funds are not raised via money collections, Just Glving lorsimilarl pages, lotteries, cold
calling or legacy donations. Occasionally funds might be raised for a spedfic prolett via grant
applications, such as funding from local community groups to facllltate actlvities.
No professional fund-raisers or commercial particlpator carrled out any attlvitles on behalf of
the Guild. No person acting on behalf of the Guild was subject to an undertaking to be bound by
any voluntary scheme for regulatSng fundraislng and no voluntary standard of fund-raislng in
respect of Gulld activities on behalf of the charity wa5 undertaken. No persons acted on behalf
of the Guild forthe purpose of fundraising, and no complalnts were recelved bythe Gulld about
fund-raising activity by the charity. As the Guild does not undertake fund-raising activity outslde
of operatlng commercial outlets and grant appllcatlon5, a strategy for protectlon of vulnerable
people and members of the public In relatlon to fund-raising is not required.
16

lfverpool Gulld of Students
TRUSTEES REPORT
For the year ended aijuly 2021
S. FUTURE PLANS
In autumn 2019, the Gulld launched Its new Strateglc Plan. It lald out the plan to "offer excellent
opportunities, services and facilities which improve, enrich and Llevelop the Ilve5 of all students at the
Unlverslty of Llverpool."
To take this work forward several workin8 groups were set up to carry out research and develop detalled
project plans. This work was underway when Covid-19 levels started to rise In the UK, and It became clear
that it would have a significant effect on artivities.
In 2019-20, in light of the pandemic, the Board agreed thatthe Strategic Plan would be paused. Thls declslon
remained In place throughout the 2020-21 year.
In Summer 2021, the Guild restarted work on the current Strategic Plan, and updated plans to reflect the
changed sltuation. These updated plans will form the basis of work In the coming years.
The plan outline5 the four Strategic objectives, or promise5, the Guild are seeking to achieve. These are:
Support our members
To put members at the heart of decision making
Invest in our spa￿S
Ensure all members benefft from the Gulld
The four promises are underplnned by a commitment to developlng the organi5ation in four key areas. The
followlng Excellence Plans wlll drive this work forward through the lifetime of the strategic plan,.
Communications
People
IT and Digital
Equality, Diverstty and inclusion
Underplnnlng this planned work was a commitment to the followlng values.,
Fun and Friendly- Everyone is welcomed at the GLtild and we w511 create 3 home away from
home for all our members.
Ambltlous- Everything we provlde Is the hlgh quallty our members deserve
Innovatlve and Aslle- we wlll be responslve and open to new Ideas.
Representative and Involvin%- our members lead us and are involved in 5haplng thelr own
experlence at every level, we wlll ampllfy your vo5ces
PrOfes￿onal and Responslble
we are indu5ive, informative, respertful, human and
inspiring.
Sustainable- We've been here for over IOD years. We'll be here for hundreds more by beinE
"ethically, environmentally and financially sustainable.
17

Liverpool Gulld of Students
TRUSTEES REPORT
Forthe year ended 31 Juty 2021
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Llverpool Guild of Students
TRUSTEES REPORT
Forthe year ended 31July 2021
STATEMENT OF TRUSTEES, RESPONSIBIUTIES
The charlty trustees (who are also the dlrectors of the Guild for the purposes of company lawl
are responslble for preparing a trustee5' annual report and financial statements in accordance
with applicable law and United Kingdom Accounting Standard5 Iunlted KSngdom Generally
Accepted Accounting Practlcel.
Company law requires the charity trustees to prepare accounts for each financlal year whlch
Ive a true and falr view of the stste of affairs of the charitable tompany and of the incomlng
resources and application of resources, Includlng the Income and expendlture, of the charlty for
that perlod. In preparing these accounts, the trustees are required to:
select sultable accounting pollcles and then apply them conslstently.
obs£Ne the method5 and prlnclples in the Charities 50RP 2019 IFRS 1021;
make Judgements and estlmates that are reasonable and prudent,.
stste whether applicable UK Accounting Standards have been followed, subjert to any
material departures disclosed and explained in the accounts.
prepare the financial statements on the going concern basis unless It Is Inapproprlate to
presLtme that the charitable company will continue in operation.
The trustees are responslble for keeping proper accoLbntlng records that dlsclose wlth
reasonable accuracy at any time the financial posltlon of the charitable company and to enable
them to ensure that the accounts comply with the Companles Att 2006. The trustees are also
responsible for safeguarding the a55ets of the chalitable company and hence for taking
reasonable step5 forthe preventlon and detection of fraud and other Irregularltles,
The trustees are ￿sponsIble for the maintenano and integrity of the corporate and flnanclal
Informatlon Included on the charltable company's webslte. Leglslatlon In the United Kingdom
governing the preparatlon and dissemination of flnanclal statements may dlffer from leglslatlon
In otherjurlsdlctlons.
Tru5tees' statement ol disclosure of infomiation to the audltors
In 50 far a5 the trustees are aware at the date of approval of this report..
there Is no relevant audit Informatlon, of which the charltable company'5 audltor Is
unaware, and
the trustees havetaken all steps that they oughtto have taken to makethemselves aware
of any relevarit audit information and to establish that the auditor is aware of that
informatlon.
Approved by the Board of Trustees and signed on Its behalf
Robert Woodcock
Chalr ot Twstees
2 December 2021
ertie/

LIVERPOOL GUILD OF STUDENTS
AUDITORS REPORT TO THE MEt¥lBERS OF LIVERPOOL GUILD OF STUDENTS
For the yearended 31 July 2021
Oplnlon
We have audited the flnanclal statements of Llverpool Gulld of Students Ithe 'charltable company'l for the
year ended 31 July 2021 set out on page5 24 to 42. The financial reporting framework that has been applied
In thelr preparation Is appllcable law, Unlted Klngdom Accountlng Standards Iunlted Klngdom Generally
Accepted Accounting Practice), including FRS 102 'The Financial Reporting Standard applicable in the UK and
Republlc of Ireland,.
In our oplnSon the financial statements:
give a true and fair vlew of the state of the charitable company's affairs as at 31 July 2021 and of it5
incoming resources and appllcatlon of resources Sncludlng Its income and expendlture for the year
then ended;
have been properly prepared In accordance with United Kingdom Generalby Accepted Accountlng
Practice,. and
have been prepared In accordance wlth the requlrements of the Companies Act 2006.
Basis of oplnlon
We conducted our audlt in accordance wlth Internatlonal Standards on Audltlng IUKI IISA5 IUKII and
applicable law. Our responsibilities under those standards are further descrlbed In the Audltor's
responslblllties for the audit of the flnancial statements settlon of our report. We are independent of the
charitable company In accordance with the ethical requirements that are relevantto our audtt of the financial
statements in the United Kir5gdom, including the Financial Reporting Council's Ethical StsnLlard, and we have
fulfilled our other ethlcal responslbillties in accordance wlth these requSrements. We belleve that the audlt
eviden￿ we have obtained is sufficient and appropriate to provide a basis for our opinion.
Conduslons relatln8 to golng concern
In auditlng the financial statements, we have concluded that the trustees, use ot the going concern basis of
accounting in the preparatlon of the flnancial statements Is approprlate.
Based on the work we have performed, we have not identified any material uncertaintles relating to events
or conditlons that, indivirlually or collettivelyi may cast significant doubt on the charitable company's ability
to continue as a golng concern for a period of at leasttwelve months from when the flnanclal statements are
authorlsed for Issue.
Our responslblllties anij the responsibilities of the trustees wlth respecttogoing concern are described in the
relevant sectlorss of this report.
20

LIVERPOOL GUILD OF STUDENTS
AUDITORS REPORTTO THE MEMBERS OF LIVERPOOLGUILO OF STUDENTS
For the yearended 31 July 2021
Other Information
The Trustees are responslble for the other Informatlon. The other informatlon comprlses the Informatlon
Included In the Trustees report, other than the financial statements and our Auditor's report thereon. Our
opinion on the finantial statements doe5 not cover the informatlon and, except to the extent otherwlse
explicitly stated In our report, we do not express any form of assurance conclusion thereon.
In connectlon wlth our aud*t of the financial statement5, our responsibility is to read the other information
and, in doing so, con51der whether the other Information is materially incunsistent with the financial
statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we
Identlfy such material inconsistencies or apparent material misstatements, we are required to determine
whether there is a materlal misstatement in the financial statements or a material misstatement of the other
information. If, based on the work we have performed, we conclude that there is a material rnis5tatement of
this other informatlon, we are required to report that fact.
We have nothlng to report In thls regard.
OpIn￿n on other matters prescrfbed by the Companles Art 2006
In our opinlon, based on the work undertaken In the course of the audit,.
the informatlon glven In the Trustees, report for the flnanclal yearfor whlch the flnanclal statement5
are prepared is consistent with the financial statements.
the Trustees, report has been prepared in accordance wlth appllcable legal requlrements.
Mattels on wh5ch we are requlred to report by exceptlon
In the light of our knowledge and understandlng of the charltable company and Its envlronment obtained In
the course of the audit. we have not identified material misstatements in the Trn5tee5' report.
We have nothing to report in respect of the following matters in relation to which the Companies Act 21J06
requires us to report to you If, In our oplnlon:
adequate aecountSng records have not been kept, or returns 8dequate for our audit have not been
received from branche5 not V151ted by u5; or
the financial statements are not in agreement with the accounting records,. or
certaln dlsclosures Df Trustees, remunerations specified by law not made; or
we have not recelved all the informatlon and explanatlons we reoulre for our audlt.
Re5ponslbllltles of trustees
As explalned more fuTr￿ In the Statement of Trustees, responsibllltles, the Trustees (who are also the dlrectors
of the charitable company for the purposes of company lawl are responsible for. the preparation of the
flnanclal statements and fDr belng satSsfled that they give a true and falr vlew, and for such Internal control
as the Trustees detem)Ine Ss ne￿$sary to enable the preparation of financial statements that are free from
materlal mlsstatement, whether due to fraud or error.
In preparlng the flnanclal statements, the Trustee5 are responsible for assessing the charitable company's
ability to continue as a going concern, dlscloslnE, as appllcable, matters related to golng concern and uslng
the going concern basS5 of accountlng unless the Trustees either intend to liquidate the charitable company
orto cease operations, or have no reali5tlc alternatlve but to do so.
21

LIVERPOOL GUILD OF STUDENTS
AUD5TORS REPORTTO THE MEMBERS OF LIVERPOOLGUILO OF STuoEF￿rs
Forthe year ended 31 July 2021
Audltor's responslbllltles forthe audlt of the finantial statement5
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are
free from mater181 misstatement, whetherdue tofraud or error, and to Issue an audltorfs reportthat includes
our opinion. Reasonable as5urance15 a hlgh level of assurance, but is not a guarantee that an audit conducted
In accordance wlth ISAS IUKI wlll alway5 detect a material misstatement when it exists. Misstatements can
arlse fron) fraud or error and are considered material If. individually or in the aggregate. they could
reasonably be expected to influence the economic decision5 of user5 taken on the basis of these financial
statements.
Irregularitles, Includlng fraud, are instance5 of non-complian￿ with laws and regulalion5. We design
procedures in line with our responsibilities, outllned above, to detect materlal mlsstatements In respect of
irregularitie5, intludirtg fraud. The specific procedures for this engagement and the extent to which these are
capable of detectlng IrregularSties, Includlng fraud Is detalled below:
Our approach to identifying and a55essing the risk5 of material misstatement in respect of irregularities,
Includlng fraud and non-compllance with laws and regulatSons, was as follows..
the 5enlor statutory audltor ensured that the engagement team collectlvely had the approprlate
Competence, capabiltties and skills te identify or recognise non-complian￿ with applicable laws and
regulations;
we identifled the laws and regulatlons applicable tothe charitable company through discussions with
dlrettors and other management. and fmm ourcommercial knowledge and experlence of the sector:
we focused on specific laws and regulations whSch we consldered may have a direct material effect
on the flnanclal statements or the operatlons of the charltable company, Includlng the *lnanclal
reporting legislation, Companies Act 2006, taxation legislation, anti-briberyi employment, and
envlronmentsl and health and safety legSslatlon:
we assessed the extent of compliance with the law5 and regulation5 identrfied above through maklng
enqulrles of management and Inspectlng legal corresponden￿. and
Identified laws and regulations were communicated within the audlt team regularly and the team
remained alert to instances of non-compliance throughout the audit.
We a55essed the 5usceplibllity of the charitable company's flnanclal statements to mèterlal mlsstatement,
including obtainin8 an under5tandin8 of how fraud might occur, by:
making enquiries of management asto where they considered there wa5 s11s￿ptIb1[1tyt0 fraud, thelr
knowledge of actual, suspected and alleged fraud: and
con5iderin8 the internal controls in place to mitigate risks of fraud and non-complian￿ wlth law5 and
regulatSons.
To address the risk of frdud through man)gement bias and overrlde of controls, we:
performed analytical procedures to Identify any unusual or unexpected relatlonshlp5:
tested journal entries to identify unusual transactions;
assessed whether judgements and assumptions made in determlning the accountlng estlmates set
out in Note Ilpl were indlcative of potential bias: and
investlgated the rationale behind slgnificant or unusual transactions.
22

LIVERPOOL GUILD OF STUDENTS
AUDITORS REPORTTO THE MEMBERS OF LIVERPOOLGUILD OF STUDENts
For the year ended 31July 2021
In response to the risk of Irregularltles and non-compllance wlth law5 and regulation5, we designed
procedure5 which Included, but were not limited to..
agreelng financial statement d15c105ures to underlylng supporting documentation,.
reading the minutes of meetlng5 of those charged with governan￿,
enqulrlng Df rnanagement as to artual and potential litigation and claims; and
revlewing correspondence with HMRC, ￿levant regulators and the charitable company'5 lègal
advlsors.
Because of the Inherent limltatlons of an audlt, there Is a rlskthatwe wlll notdetect all irregularities, including
those leadlngto a material misstatement in the flnanclal statements or non-compllance with regulation. This
rlsk increases the rnore that compliance wSth a law or regulationls removed from the events and transaction5
reflected in the financial statements, as we wlll be less Ilkely to become aware of Instan￿5 of non-
complldnce. The risk 15 a150 greater regardlng Irregularftie5 occurrlng due to fraud rdther than error, as fraud
Involves intentional concealment, forgery, colluslon, omlssSon or mlsrepresentatlon.
A further descriptlon of our responsibilities is available on the Financial Reportlng Councll's website at:
htt
www.frc.or
Our-wor
Audit
Audit-and-assurance
Standards-and-
ance
uidance-for-auditors
Auditors-res
onsi
Descri
tion-of-auditors-res
onsibllities-for-
x. This description forms part of our audltorfs report.
Use of our report
This report Is made solely to the charitable company's members, as a body, In accordan￿ wlth Chapter 3 of
Part 16 of the Companles Act 2006. Our audit work ha5 been undertaken so that we mlght state to the
charitable compan¢s members those matters we are required to state to them In an Auditor's report and for
no other purpose. Tothefullestextent permitted by law, we do not accept or assume responslbilltyto anyone
other than the charltable company and Its members, as a body, for our audit work, for this report, or for the
opinions we have formed.
Jonathan Dudley
(Senlor statutory auditorl
for and on behalf of Dains LLP, Chartered A¢countdnts, Ststutory Auditor.
Suite 2 Albion House
2 Etruria Offlce Village
Forge Lane
Etrurfa
Stoke on Trent
STI 5RQ
2 December 2021
23

LIVERPOOL GUILD OF STUDENTS
STATEMENT OF FINANCIAL ACTIVITIES
Forthe year ended 31 July 2021
Unrestricted Funds
2021
2020
General
Funds
Designated
Funds
Restricted
Funds
Note
Total
Total
Income from:
Donations and legacles
Charitable Activltles
Other Tradlng Actlvltles
Investments
Other Income
Pension Llablllty Galn
1,912,410
395,057
74,898
8,392
1,912,410
395,057
74.898
8,392
325.099
26,761
1,764,447
1,512,678
315,615
11,562
398,995
325,099
28
26,761
2,417,518
325,099
1742,616
4,003,297
.Expendlture on..
Raising Funds
Charltable Actlvltles
Pension Oefitit Costs
239,681
2,267,774
5,613
113,900
245,295
2,383,675
347,752
3,376,504
1,081,771
2,lJOI
Total resources expended
2,507,455
119,513
2,001
2,628,970
4,806,027
Net In¢omellexpenditure)
189,9371
1119,5131
323,097
113,647
1802,7301
Transfers between funds
254,924
70,175
{325,0991
Net Movement In Funds
164,986
149,3381
{2,IXJII
113,647
1802,7301
Reconcillatlon ot funds:
Total funds brought forward
30 11,958,646)
500,925
220,810 IL236,9111
1434,1811
Total funds carrled fonvard
22 11,793,660)
451,587
218,809 11,123,264)
1,236,911)
All omounts relate to continuln8 operatlons. All gains and losses recognised In the year are included above.
The notes on pages 27 to 42 forni part of the financial slatement5.

LIVERPOOL GUILD OF STUDENTS
BALANCE SHEET
As at 31 July 2021
Note
Asat
31-Jul-21
Asat
31-Jul.20
FIXED ASSETS
Tanglble assets
13
346,849
396,187
CURRENT ASSErs
Stock
Debtors
Investment5
Cash at bank and In hand
66,281
101,176
1,072.860
723,574
1,963,892
78,131
239,779
1,069,293
849,056
2,236,259
15
16
CRED￿oRs
Amounts Fdllkn8 due
wlthin oneyear
17
{471.164}
1703,278
NET CURRENT Ass￿5
L492,727
1.532.981
TOTAL ASSETS LESS CURRENT
UABIUTIES
1,839,576
1,929,168
CREDITORS
Amountsfal￿ngdue
after morethan oneyear
18
12,962,840)
13,166,079)
LIABILITIES
{1.123,264)
11,236,911)
FUNDS:
Restricted Funds
22
218,809
220,810
General Fund
Penslon Deflclt
1,345,667
1,365,002
11,793,660)
451,587
11,123,264}
11,958,6461
500,925
11,236,9111
Desl8nated Funds
22
The notes on pages 27 to 42 form part of the flnanclal statements. Approved by the trustees of the Liverpool
Guild of Students on 2 De￿rnber 2021.
Robert Woodcock, Trustee
Andrew Lan& Trustee
25

UVERPOOL GUILD OF STUDENTS
STATEMENT OF CASH FLOWS
Forthe year ended 31 July 2021
2021
2020
Total
Total
Note
Net cash provlded by/lused Inl operatlng actlvltles
Cash flows from Investlng activltle5:
Proceeds on sale of flxed assets
Purchase of fixed asset5
24
151,740)
392,461
170,1751 1368,607}
170,175) 1368,607}
Net cash provlded by {used In) Investlng artlvltles
Change in cash and cash equlvalents in the year
(121,915)
23,854
Cash and cash equivalents at the beginning of the year
1,918,349 1,894,495
Cash and cash equlvalents at tho end of the year
25
1,796,434 1,918,349
The notes on pa8es 27 to 42 form part of the financial statements.
26

LIVERPOOLGUILD OF STUDENTS
NOTES TO THE FINANCIAL sTATEME￿[s
Forthe year ended 31 July 2021
l Accounting Pollcies
The Llverpool Gulld of Students, whlch Is a charitable company Ilmlted by guarantee and Ilmited to £1 per member
has adopted the following accounting policie5-
al Basls of accountlng
The flnanclalstatements have been prepared In accordan￿ with the Accountingand Reporting by Charitie5 Ststement
of Recommended Practi￿ applicable to charities preparing their accounts in accordan￿ wlth the Finantial Reportlng
Standard appllcable in the UK and Republicof Ireland IFRS 1021 Issued In October 2019, the Flnancial Reporting Standard
applicable in the United Kingdom and Republic of Ireland IFRS 1021, the Charities A¢t 2011, the Cornpanles Act 2006 and
Generally A(￿pted Accounting Practice.
The Llverpool Guild of Students meet5 the definltlon of a publlc benefit charity under FRS 102. The financial
statements are prepared under the historical cost convention or transaction value unless otherwise stated in the
relevantaccounting pollcy notelsl. Thefinanclal statements are prepared In Sterllngwhich isthefunctional currency
of the charity and rounded to the nearest £.
bl Incomlng resources
Incomin8 resources are included in the Statement Df Financial Activities ISOFAI when the charlty has entltlement to
the funds, any performance condltlon5 have been met, the amount can be measured reliably and itls probable that
the income will be received.
Income from charitable activities includes income iecelved under contract or where entStlement to grant fundlng
Is subject to speclfic performance condltSons and is recognised a5 earned. Grant income included in thi5 category
provides funding to support performance activities and 15 recognised where there is entitlement, certainty of
recelpt and the amount can be measured wlth reasonable certalnty. Income re￿iVed to dellver seNice5 over a
specific period covering more than one financial year 15 accounted for overthe specific period,. related expendlture
Is accovnted for when incurred.
Investment income relates to interest earned through holdlng assets on deposit.
cl Donatsd servlces and facllltles
Donated services and facilitie5 are recognised a5 income wherb the charity has control overthe Item, any condltlons
associated with the donated Items have been met, and the receipt of economlc benefit can be measured reliabty.
In accordance wlth the Charltie5 SORP IFRS 1021 the general volunteer tlme is not recognlsed and refer to the
Trustees report for MO￿ information about their contribution.
Donated seNices and donated facllities are recognised on the basls of the value of the gift to the charity which 15
the amount the charity would have been willing to pay to obtain Services or facilities of equivalent benefit on the
open market, a corresponding amount is recognlsed in the expendbture for the perlod.
dl Support costs allocation
Support costs are those that asslst the work of the charlty but do not dlrectly represent charitable attivities and
include office & admin costs, facility Costs and supporting marketlng costs.

LIVERPOOL GUILD OF STUDENTS
NOTES TO THE FINANCIAL STATEMENTS
For the year ended 31 July 2021
el Govemance wsts allocatlon
Governance cost5 are those costs related to the governance of the entity, to allow it to operate, and to generate
Informatlon for publlc accountabillty. Dlrert Costs will include audit and accountancy* legal advlce to trustees and
Costs of trustees meetings.
fl Funds
Unrestricted funds are funds whlch are avallable for use at the dlscretlon of the Trustees In furtherance of the
objetts of the entity and whlch have not been deslEnated for other purposes.
Desi8nated funds are unrestricted furbds that have been set aside by the Directors for particular purp05es. The dim
and use of each deslgnated fund is Set out in the note5 to the flnanclal statements.
Restrlcted funds are funds that are used in accordance with speclfic restrlctions Imposed by donors or that have
been raised by the entlty for particular purposes. The costs of raislng and admlnisterlng such funds are charged
agalnst the specrflcfund. The alm)and use ot each re5trlcted fund15 Set out In the notes to the flnanclal statements.
gl Flxed assets ond depreciation
Fixed assets are stated at cost less accumulated depreclatlon. Assets are not capltallsed below £500 cost per
Item/set.
Depreciation 15 calculated so as to write off the c05t of an asset, les5 its estimated residual value over the useful
economlc Ilfe of that asset as follows..
Property Improvements: 5% stroight line per annum
Office Equipment and Fixture5 & FittinE5'. 10% - 33.3% straight line per annum
111. Speclalist EquSpment'. 20% 33.3% 5tralght Ilne per annum
iv. IT equipment.. 20%-33.33% straight line per annum
h) Stock5
Stocks are valued at the lower of c05t and net realisable value, after making due allowance for obsolete and slow
moving items.
il Debtors
Trade and other debtors a￿ recognised at the settlement amount due after any trade dlscounts offered.
Prepayments are valued at the amount prepald net of any trade dlscounts due.
11 Cyr￿nt asset Investments
Current asset Investments are short term highly liquid inve5tment5 and are held at fair value, These Include'ca5h
on deposit and cash equlvalents with a maturity of up to 3 years.
kl Cash at bank and In hand
Cash at bank and in hand includes cash and short term highly liquld Investments with a short maturity of three
months or less from the date of acqulsltlon or openlng of the deposlt orslmilar account.
28

LIVERPOOLGUILD OF STUDENTS
NOTES TO THE FINANCIAL STATEMENTS
Forthe year ended 31July 2021
11 Creditors and provislons
Credltors and provislons are reco8nised where the charity has a present obli8ation resulting from a past event that
will probably result In the transfer of funds to a thlrd party and the amount due to settle the obllgatlon can be
measured or estlmated rellably. Creditors and provlsions are normally recognised at thelrsettlement after allowlng
for any trade discounts due.
ml Flnancial in5trument5
The charity only has financial assets and financial Ilabllltles of a klnd that quallfy as baslc flnancial Instruments.
Basic flnanclal Instruments are inltlally recognised al tran53ttion value and subsequently measured at their
settlement value with the exception of bank loans which are 5ub5equently measured at amort15ed cost Using the
effectlve Interest method.
n) Pension costs
The Guild particlpates In the Students, Unlon Superannuatlon Scheme ISUSSI and the Unlversity of Liverpool
Penslon Fund IULPFI. Both schemes are defined benef it 5cheme5 which are externally funded and contracted out
of the State Second. Pension. The funds are valued at least every three years by a professionally quallfled
Independent actuary wlth the rates of contribution payable being determined by the trustees on the advice of the
actuary. The schemes operate as a pooled arrangement. wlth contrlbutions pald at a centrally agreed rate.
with effect from 30 September 2011 the SUSS Scheme has been closed to future accrual. Slnce that date only
deficlt contrlbution5 have been paid to the Scheme. As explained in note 28 the accounts include the net present
value of the funding deficit as requlred by the Charltles SORP IFRS 1021.
As a consequence of the SUSS scheme closing to future accrual the Guild has Set up a group personal pension
scheme with Scottish Equitable PLC called the National Union of students Pension Scheme INUSPSI which 15
money purchase scheme contracted Into the State Second Pension. Since the Liverpool Guild of Students, staging
date of 1st April 2014, all permanent member5 of staff who are eligible jobholders a￿ automatically enrolled Into
the scheme after a postponement period of 3 months.
A Natlonal Employment Savings Trust INESTI has been set up in order to auto enrol any casual members of staff
who become eligible jobholders.
ol Golng Concern
The Union has net liabilities of £1, 123,264, due to the recognltion under Charltles SORP IFRS 1021 of the net present
value of the fundlng deficlt on the SUSS pension recovery plan. Further information 15 det3iled in note 28 to the
accounts. Thi5 15 a long-term commitment which ends In 2035 and the trustees are confident that annual payments
towards thls plan wlll be met out of Income for each year.
After maklng approprlate enqulrles, the trustees have a reasonable expectation that the Unlon has adequate
resources to continue in operational existence for the foreseeable future. For thls reason, they contlnue to adopt
the golng concern basis In preparlng the fSnanclal statements.
pl Signilicant judgements and e5tlmates
Preparation of the financial statements requSres management to make significant ludgements and estlmates. The
Items In the fSnancSal statements where these judgements and estimates have been made Include a55umptions
around the financial assets and liabllities of penslon scheme commitments, and the discotjnt rate applied thereto.
and the valuatlon of stock.
29

LIVERPOOLGUILD OF STUDENTS
NOTES TO THE FINANCIAL STATEMENTS
Forthe yearended 31July 2021
General Funds
Deslgnated
Funds
Restrlcted
Funds
2021
2020
2 Donatlons
Unlverslty Block Grant
Arts Council FundSng- Culture Recovery Fund
Othervoluntary Income
1,716,386
113,524
82,500
1,912,410
L716,386
113,524
82,500
1.912.410
1,681,947
82,500
1,764,447
3 Income from charltable actlvltles
Bar
Coffee5hop
Student Shops
Entertainments
Caterlng Faclllty Fee
NUS Extra, Bus Pass & Graduate
Portrait Commi551ons
Student Servlces e,B. Glve It a Go
Net Clubs & Socletles Income
117,478
207,045
31,457
117,478
207,045
31,457
684,605
394,374
286,835
13,368
30,000
30,000
30,CKKI
6,541
6,541
66,505
2,536
2,536
5,828
31,163
395,057
395,OS7
1,512,678
4 Income from othertradlng actlvltles
Venue Hire and Staff Recharge5
Media Sales
41,408
33.490
74,898
41,408
33,498
74,898
189,060
126,556
315,615
5 Investments
Interest recelved from Bank &
Building Society Accounts
8,392
8.392
11,562
8,392
8,392
11,562
6 Other Income
Coronavirus Job Retention Scheme
Insurance Proceeds
325,099
325.099
311,709
87,286
398,995
325,099
325,099
30

LIVERPOOL GUILD OF STUDENTS
NOTES TO THE FINANCIAL STATEMENT5
Forthe yearended 31July 2021
7 Analysis of Expenditure
2021
Cost of
Sales
Staff
Costs
2021
Total
C05t
2020
Total
C05t
Other Costs
Governan
Costs
Support
Costs
Ralslng Funds
123,905
27.797
2,152
91,441
245,295
347,752
Charltable Attlvltles..
Bars
Coffee Shop
Student Shops
Entertainments
student 5ervlce5 E.g.
Give Ita Go
Student 5ocletles Net
Expendittjre
42.248
71,400
27,590
154,107
163,055
74,569
26,580
75.540
64,044
13,519
23,697
3,858
4,235
1,641
713
163,889
179,924
69,727
30,305
439.641
482,657
187.047
81,295
922,585
636,332
486,241
131,755
661,275
75.316
10,451
443,992 1,191,034
1,199,59,1
141.238 1.079.585
254.117
20,898
887,836 2.383.675
3.376.504
Other:
Penslon deflclt costs
1,081,771
141,238 1,203,490
281,914
23,051 979,277
2,628,970
4,806,027
2020
Cost of
Sales
Governance
Costs
Support
Costs
2020
Total
Cost
2019
Total
Cost
staff Costs Other Costs
Rabslng Funds
141,792
95,247
2,360
108,353
347,752
320,127
Charltable Actlvltles:
Bars
Coffee Shop
student Shops
Entertalnments
Student SeNices E.g.
Give It a Go
210,567
129,407
188,876
293,289
233,315
111,207
34,308
125,007
71,022
31,354
55,5
6,260
4,318
3,299
894
287,462
198,270
151,505
41,053
922,585
636,332
486,241
131,755
1,038,141
723,252
537,520
160,762
669,543
148,4
8,134
373,514 1,199,591
1,045,360
528.850
1,341.662
431.283
22.905 1.051,804 3.376.504
3.505.035
Other:
Penslon deflcit costs
1,081,771
1,081,771
62,952
528,850
1,483,454
1,608,301
25,265 1,160,157 4,806,027
3,888,114
31

LIVERPOOL GUILD OF STUDENTS
NOTES TO THE FINANCIAL STATEMENTS
Forthe year ended 31 July 2021
7 Analysis of Expenditure {cont.I
Of the total expendlture £2,626,969 was unreslrlcted12020'. £4,805,19916nd £2,001 was restrlcted12020.' £8281.
The support costs and governance costs are allocated to actlvSty based on the proportlon of that actlvlty's direct cost5 to
total costs.
In addition to the staff costs above, there are a further £819,29412020: £900,990) which are included in governance costs
and support costs.
Governance and support costs can be analysed a5 follow5..
2021
2020
Staff costs
Staff Recruitment, training & social costs
Facility Costs
Office & finance costs
Travel, subsistence & conference costs
Legal, professional & consultancy
Marketing/Website costs
Equipment purchase, hire & maintenance
Irrecoverable VAT
Oepreciation
Sundry costs
819.294
7,463
31.192
32,205
308
28.880
11,889
10,435
17,650
20.913
900,9
19,816
30,127
44,219
2,178
46,263
28,081
27,606
27,809
19,984
1,002.328
1,185,422
8 Net incomellexpenditurel for the year
This is stated after charglng..
2021
2020
Depreciation
Insurance proceeds
CoronaviNs Job Retentlon Scheme recelpts
Bad Debts incurred/lrecoveredl
Audltors remuneration:
Audlt
119,513
116,727
187,2861
1311,7091
3,945
1325,0991
13,9091
32

LIVERPOOL GUILD OF STUDENTS
NOTES TO THE FINANCIAL STATEMENTS
For theyear ended 31 July 2021
9 Analysls of staff eosts and the Cost of key management personnel
2021
2020
stsff costs were as follows..
Salarles and wages
Social Security cost5
Employerfs contribution to h defined contributlon pensSon
Other employee benefits
1,819,175
136,278
55,460
2,177,860
147,229
47,022
2,022,784
2,384,444
The followlng number of employees received employee beneffts lexcludinE ernployer pension costs) durlng
the year between:
2021
No
2020
No
£70,000- £79,999
£80,000- £89,999
The total employee beneflts Includlng penslon contributlons of the key management personnel were £347,9)5
12020.. £346,731).
10 Trusteeg remuneratlon and expenses
2021
2020
Trustees, remuneratlon and employer'5 Nl costs
Trustees, expenses
88,044
25
87,241
88,069
91,381
Each of the sabbatlcal offlcers received a salary of £20,045 per annum12020: £20,0451 as authorlied in the Articles
of A550clation of the Llverpool Guild of Students for the representation, campaignlng and support work they
undertake a5 dlstlnct from their trustee responsibilities. The work includes volcing student opinion with the
Univer51ty and local cornmunlty,.defendlng and extending the rlghts of students through petltions, and discussions
wlth local MP'S.
The trustees, expenses were incurred by 412020: 81 trustees In respect ot travel and Subsistence costs in the course
of their duties.
No Trustee received remuneration forwork undertaken In the dellvery of commercial seNices unrelated to thelr role
as Trustee12020- nill.
33

LIVERPOOLGUILD OF STUDENTS
NOTES TO THE FINANCIAL STATEMENTS
Forthe yearended 31 July 2021
11 Staff Numbers
The average number of employees (head count based on number of staff employed) durlng the year was made up
as follows:
2021
No
2020
No
Raising Fund5
Bars
Coffee Shop
Entertalnments
student Shop5
Student Servlces
Governance
Support Servlces
10.5
93.5
35.7
58.5
28.7
23.5
23.9
25.5
40.9
37.8
179.4
32.9
243.4
Of the above stsff numbers, 10612020: 1731 are staff employed under a zero hours contract.
12 Taxation
The charity is exempt from corporation tax as all of its Incomels charitable and is applied.for charitable PUTP05es.
13 Tanglble Fixed Assets
Office
Equlpment and
Flxtures &
Fittings
Specla115t
Computer
Equlpment Equlpment
Totsl
Cost
At l August 2020
Additlons
Disp05als
At 31 July 2021
924,372
54,459
66,595
8,869
78,581 1,069,S48
6,847
70,175
978,831
75,464
85,428 1,139,723
Depreclatlon
At l August 2020
Charge for the year
Disposals
At 31 July 2021
563,550
104,046
44,768
7,287
65,043
8,180
673,361
119,513
667,596
52,055
792,874
Net Book Value
At 31 July 2021
At 31 July 2020
311,235
360,822
23,409
21,827
12,205
13,538
346,849
396,187

LIVERPOOL GUILD OF STUDENTS
NOTES TO THE FINANCIAL STATEMENTS
For the year ended 31 July 2021
14 Stock
2021
2020
Bars
Coffee Shop
Shop5
13,460
4,130
48,691
19.089
5,324
53.718
66,281
78,131
15 Debtor5
2021
2020
Trade debtor5
Other debtors
Prepayments & accrueij income
30,737
8,659
61,780
49,538
113,073
77.168
101,176
239,779
16 Current Investments
2021
2020
Carrying value and market value at beginning of year
Additions to investments at CQ5t
Disposals at carrylng value
1,069,293
3,567
1,172,366
4.553
1107,62fj1
Carrying value and market value at end of year
1,072.860
1,069,293
17 Creditors.. amounts falling due wlthin one year
2021
2020
Trade credltors
Soclal Security and other taxes
University creditor
Other credltors
Pen51on liabllity
Accruals & deferred Income
40,361
8,068
24.166
158,409
176.487
63,673
45,421
92
269,199
170,179
157,569
60,818
471,164
703,278
35

LIVERPOOLGUILD OF STUDENTS
NOTES TO THE FINANCIAL STATEMENTS
Forthe year ended 31 July 2021
18 Creditors: amounts falllng due after more than one year
2021
2020
Pen51on Liabilitv
2,962,840
3,166,079
2,962,840
3,166,079
19 Deferred Income
Deferred income compri5e5 of venue hire sale5 invoiced in advonce, event tlckets sold In advance and the dlscount
relating to future periods from pen5i0n deflcit contrfbutions pald In advan￿.
2021
2020
Balance brought forward
Amounts released from previous year
Amounts deferred during the year
8ASO
15,8501
11,487
111,4871
8,450
Balan￿ carried forward
2,600
8,450
20 Flnanclal Instruments
2021
2020
Flnanclal assets measured at amortlsed cost
Financial a55ets measured at fairvalue
Flnanclal Ilabllltles measured at amortised cost
Financial liabilities measured at fair value through the
Statement of Financial Actlvitles
47,820
1,796,434
1291,3911
182,715
1,918,349
IS37,2601
{3,139,3271 13,323,648)
Financial a55ets held at amortised c05t comprise trade debtors and other debtors excluding prepald costs.
Flnanclal assets measured at fair valtje comprise short term Investments and cash at bank and in hand.
Flnanclal liablllties held at amortlsed cost compr15e trade credltors, other creditors and accruals.
Financial liabilities measured at fair value through the Ststement of Financial Artivilies comprlse the
penslon deflclt contrlbutlon Ilabillty.
The charIt￿5 income, expen5ei galns and losses In respert of finbnclal Instruments are:
2021
2020
Total interest income for financial assets held at amort15ed c05t
Total Interest expense for financlal Ilablllties held at amortised cost
8,392
1,083
11,562
3,732
36

LIVERPOOLGUILD OF STUOENTS
NOTES TO THE FINANCIAL STATEMENTS
Forthe year ended 31 July 2021
21 Capltal Commltments
At 31 July 2021 there were no capltal expendliure eommitments.
22 Statement ol funds movement
Transfer
Between
Funds
Balance
31-Jul
2021
01-Aug
2020
Movement In Funds
Intomè
Expendliure
Unrestrlcted funds.,
General Fund
Pension Dehdt
1,365,002
13,323,648)
11.958.6461
2,390,757
26,761
2,417,518
12,507,4551
97,364
157,560
254,924
1,345,667
3.139.327
11.793.660)
12,507,4551
Desi8nated funds:
Fixed Asset Fund
Guild Strategic Development FuThJ
Ellzabeth Gidney Fund
396,187
S0,QJO
54,738
500,295
1119,5131
70,175
346,849
S0.thJO
54,738
451.587
1119,5131
70,175
Restrlrted Funds:
Societies own Income
CJRS Funds
NUS General Election Fund
216,619
12,0011
214.618
325,099
1325.0991
4,191
220,810
325,099
12,0011 1325,0991
218.809
TOTAL FUNDS
11,236,911)
2,742,616
12,628,970)
11,123,264)
Transler
Between
Funds
Balance
31-Jul
2020
01-Aug
2019
Movement kn fvnds
Income
Expendltur
Unrestrfrted funds:
General Fund
Penslon Deficlt
1,518,239
12.391.940)
1873,7011
3,660,425
13,606,701) 1206.9611
11,081,771
150,063
14,688,472)
156,8981
1,365,002
13.323,6481
11,958,646)
3,660,425
Desl8nated fund&
Fixed Asset Fund
Gulld Strateglc Development Fund
Elizabeth Gidney Fund
144,307
50,OCM)
54,738
249,045
1116,7271
368.607
396,187
50,000
54,738
500,925
1116,7271
368.607
Restrlcted Funds,.
5ocleties own Income
CJRS Funds
NUS General Electlon Fund
185.456
31,163
311,709
216,619
1311.7091
5.019
190,475
8281
18281 1311,7091
4.191
220,810
342,872
TOTAL FUNDS
1434,1811
4,003,297
14,806.0271
11.236.911)
37

LIVERPOOL GUILD OF STUDENTS
NOTES TO THE FINANCIAL STATEMENTS
Forthe year ended 31 July 2021
22 Statement of funds movement Icont.)
Unrestrlcted funds
The pension deficlt has been dlsclosed as a separate unrestritted ne8ative fund to represent the net present
value of the f￿Ure contributlons required over 15 years to dear the penslon fijnd deflcit
Deslgnated funds
The deslgnated funds are unrestrlcted fund5 that are created by the trustees for specific purposes.
The fixed asset furid 15 the net book value of a55ets purchased with unrestricted funds.
The Gulld Strategic Development Fund is a fund Set up for the support of trustee-led development projec15
to engage wlth the Guild's membershlp.
The Elizabeth Gidney Fund relates to a legacy received during 2012113 which 15 to be allocated to projects
that are appropriate to the memory of the bequeathed.
Restricted funds
The restricted funds comprise:
The Societle5' own income balanoe represents the accumulated funds raised by Indlvldual socletles.
The NUS General Electlon Fund represents funds recelved to be expended on Eeneral elettlon campaigns.
The CJRS Funds represent government funds received for furloughed staff Lluring the Coronavirus pandemic
Reserve Iransfers
Transfer5 are made from general reserves to other reserve5 in order to ensure that adequate funds are avallable In
order to fulfll the purpose of each fund.

LIVERPOOL GUILD OF STUDENTS
NOTES TO THE FINANCIAL STATEMENrs
Forthe yearended 31July 2021
23 Analysls of.net Assets between fund5- current year
General
Funds
Designated
Funds
Restricted
Funds
Total
Tangible Flxed Assets
Cash & short term investments
other net current assets/lllabllltiesl
Defined beneflt penslon1Sability
346,849
54,738
50,000
346,849
1,796,434
1127,2201
13,139,3271
11,123,264)
1.522,877
1177,2201
13,139,3271
11,793,6601
218,809
451,587
218,809
Analysis OT net Assets between fund5- prior year
General
Funds
Deslgnated
Funds
Restrlrted
Funds
Total
TanBible Fixed Assets
Cash & short term investments
Other net current 3sset511liabilitie51
Deflned beneflt penslon1Sabllltv
396,187
54,738
So,￿0
396,187
1,918,349
1227,7991
3,323.648
11,236.9111
1,642,801
1277,799
3,323,648
11.958,6461
220,810
5CK).925
220,810
24 fteconclllatlon of net In¢ome/lgxpenditure} to net cash flow from
operating activities
2021
2020
Net movement in funds
Add back depreciation charge
Ilncreaselldecrease In stocks
Ilncreasel/decTease in debtors
Increaselldecreasel In creditors
Increase/ldecrea5el in deferred benefit pension liabllity
113.647
119,513
11,850
138,603
1251,032)
1184,3211
1802,7301
116,727
1,689
17,4121
152,478
931,708
151.7401
392,461
25 Analysls of cash and cash equivalents
2021
2020
Cash In hand
Current accounts
Deposlt accounts
1,194
722,380
1,072,860
17,894
831,162
1,069,293
1,796,434
1,918,349
39

LIVERPOOL GUILD OF STUDENTS
NOTES TO THE FINANCIAL STATEMENTS
Forthe yearended 31 July 2021
26 Operating Lease Commitments
2021
2020
Withln one year
Within two to five years
After more than five years
1,220
359
1,046
861
1,580
1,907
27 Related Party Transactions
The following have been Identified as related party transaction5 per the requirements of FRS 102.
The Vniversity of Llverpool: In the year the Llverpool Gulld of Students received total grants Of É1,756k12020'.
£1,722kl from the University of Llverpool, there was £2,013k12020: £2,392kl of purchase recharges (including
payroll and bulldlng repalrsl and £76k 12020.- £125kl of sale5 recharges lincluding room hires and staff
recharges). The Llverpool Gulld of Students, net year end credltor with the University of Liverpool was £26k as
at 31 July 202112020.. £264kl.
Trustee5 of the Liverpool Guild of Students.. see note 10-Trustees remuneration and expense5.
National Union of Student5 Services Ltd INUSSLI.. Llverpool Gulld of Students Is an afflllated member of NUSSL
who operate a purchasing con50rtium withln the student unlon movement.
28 Penslons
The Gulld partlclpates In four penslon schemes: the Students, Unlon Superannuatlon Scheme ISUSSI, the Natlonal
Unlon of Students Penslon Scheme INUSPSI, Natlonal Employment Savings Trust NEST and the University of Liverpool
Pension Fund IULPFI.
suss
The Guild participates in the Students, Union Superannuation Scheme, whlch Is a defined beneflt scheme whose
membershlp conslsts of employees of students unlons and related bodles throughout the country. Benefits in
respect of seTvice up to 30 September 2003 are accrued on a "final salary" basls, wlth benefits in respect of service
from l October 2003 accrulng on a Career Average Revalued Earnlngs ICAREI basis. With effect from 30 September
2011 the scheme closed to future accrual.
The most recent valuation of the Scheme was carried out as at 30 June 2019 and showed that the market value of
the Scheme's asset5 was £119.Im with these assets representing 46% of the value of benefits that had accrued to
members after allowing for expected future increases In earnlngs. The deficit on an ongoing fundlng basls amounted
to£140.9m.
The assumptlons which have the most significant effect upon the results of the Valuatlon are those relatlng to the rate
of return on investments and the rates of increase in salaries and pensions.
The following assumption5 applied at 30 June 2019-_
The investment return would be 4.0% per annum before retirements and 2.0% per annum after retirement
Penslons accrulng on post 1997 basls would revalue at 3.7% per annum and 3.4% per annum on the post 20fXJ
basis
Present and future penslons would Increase at rates speclfled by Scheme rules with appropriate assumptions
where these are dependent on inflation.

LIVERPOOL GUILD OF STUDENTS
NOTES TO THE FINANCIAL STATEMENT5
Foi the year ended 31July 2021
The 2019 valuatlon recommended a monthly contrlbutlon requlrement by each Partlclpatlng Employer expressed In
monetary terms Intended to clear the ongoing funding deficit over a period of 15 years and increased by 5% in
Ortober 2020, 14.2% from October 2021 and at least 5% each year thereafter. These contributions a150 Include an
allowance for cost of the ongoing administrative and operational expenses of runnlnB the Scheme. These rates will
be formally revlewed followlng completlon of the next valuation due with an effectlve d8te of 30June 2022.
Surpluses or deficits which arise at future valuations will also impact on the Gull¢J's future contrlbutlon commitment.
In addilion to the above contributions, the Gulld also pays its share of the scheme's letry to the Pension Protectlon
Fund.
In accordance with FRS 102, the net present value of the future contrlbutlon5 required over IS years to clear the
fundlng deficit Is £3,139,32712020- £3,323,648). In calculating thi5 net present value, annual increases of 14.2%
In November 2021 and annual increases of 5% thereafter have been made and h discount rate of 1.75%
representlng the typital yield of high quality corporate bonds has then been applied.
NUSPS
A5 a consequence of the SUSS scheme closlng to future accrual on the 30 September 2011 the Gulld has made
available to permanent staff the National Union of Students Penslon Scheme INUSPSI with Scott15h Equltable PLC
which is a money purchase scheme. Eligible jobholders are automatlcally enrolled into the scheme after
postponement perlod of 3 months and can ch005e their level of contribution5 between 4% and 6%. The employer
contributlon wa5 3% and 6% for former members ()f the SUSS scheme to March 2019 and 4% and 6% thereafter.
The total contrlbutions paid into the scheme hy the Guild for the year to 31 July 2021 amounted to £104,07812020
- £91,920).
As a consequence of auto- enrolment, a Natlonal Employment Savings Trust has been set up in order to auto enrol
any appllcable Casual staff.
To date no payments have been made tothe scheme.
29 Legal status of the charfty
The charltyls a company limited by guarantee and ha5 no share capltal. In the event of winding up the liability of
each member Is limited to £1.
41

LIVERPOOLGUILD OF STUDENTS
NOTE5 TO THE FINANCIAL STATEMENTS
Forthe year ended 31July 2021
30 Comparatlve statement of tlnancial actlvlty
Unrestricted Funds
2020
General Designated Restrlcted
Funds
Funds
Funds
Note
Total
Income from:
Donatlons and legacles
Charitable ActlvltSes
other Trading Actlvitles
Investments
Qther Income
1,764,447
1,481,515
315,615
11,562
87,286
1,764,447
1,512,678
315.615
11,562
398,995
31,163
311,709
3,660,425
342,872
4,ClJ3,297
Expenditure on:
Ralslng Fund5
Charltable Activities
Pension deficit costs
340,968
3,265,733
L081,771
6,784
109,943
347,752
3,376,504
1,081,771
828
28
Total resources expended
4,688,472
116,727
828
4,806,027
Net Incomellexpenditurel
11,028,047)
1116,7271
342,044
1802,7301
Transfets between fund5
22
156,8981
368,607
1311,7091
Net Movement in Fund5
11,084,945)
251,880
30,335
1802,7301
Reconciliatlon of funds:
Total funds brought forward
30
1873,7011
249,045
190,475
1434,1811
Total funds carried forward.
22 11,958,646)
500,925
220,810 11,236,911)
42