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cn ; Students

OO sco% @LiverpoolGuild wwwiverpoolguild.org

Reportand Financial Statements

For the yearended 31 July 2025

Charity Number: 1137398 Company Number: 07324992

LIVERPOOL GUILD OF STUDENTS AUDITORS REPORT TO THE MEMBERS OF LIVERPOOL GUILD OF STUDENTS For the year ended 31 July 2025

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REFERENCE AND ADMINISTRATIVE DETAILS

Directors and Trustees

All directors of the company are also trustees of[the][charity,][there][are][no][ other][ trustees.][ The][trustees][serving] during the year and since the year end were:

During the year:

Rowan Bradbury

Nikole Petratou-Wells

(Resigned 25th July 2025) (Resigned 21st July 2025)

Rachel Ameyo Capri Gnagniko (Appointed 29th April 2021) Gabriella Tamas (Appointed 23rd November 2022) Omar Baher Samir Tawfiq Hussein (Appointed 30th August 2023) Ali Mohamed Othman Ibrahim (Appointed 30th August 2023) , Gabriel Barbosa Pradal (Appointed 30th August 2023) Alan Roy Whittle (Appointed 30th August 2023)

Holly Dorothy Anne Thompson (Appointed 1st August 2024) Jitendra Mohan Inturi (Appointed 1st August 2024) Othman Mohamed Ibrahim (Appointed 1st August 2024) Daniel Morelli (Appointed 10th October 2024) Sabrina Evelyn Maia Baptista (Appointed 21st July 2025) William Michael Jones (Appointed 28th July 2025}

Since the year end:

Rachel Ameyo Capri Gnagniko

Company Secretary

(Resigned 2" October 2025}

Tricia O’Neill

Key Management Personnel Chief Executive Tricia O'Neill Director of Student Engagement Morven Proctor Director of Business Development Sian McGreary

Registered office

Auditors

Liverpool Guild of Students — - 160 Mount Pleasant Liverpool Merseyside L3 5TR

Dains Audit Limited Suite 2, Albion House 2 Etruria Office Village ~ Stoke on Trent ST1 5RQ

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LIVERPOOL GUILD OF STUDENTS AUDITORS REPORT TO THE MEMBERS OF LIVERPOOL GUILD OF STUDENTS For the year ended 31 July 2025

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a	a	a
Bankers	The Co-operative Bank p.l.c.,
	P.O. Box 101	.
	1 Balloon Street
	Manchester
	M60 4EP
	DepositAccounts
	Flagstone Group Ltd (Investment Platform)
	1° Floor, Clareville House
	26-27 Oxendon Street
	London
	SW1Y4EL
	Close Brothers Savings
	10 Crown Place
	London
	EC2A4FT
Finance and business advisors	Counterculture Partnership LLP
	Bank Chambers,
	Main Street, Hawes,
	North Yorkshire, DL8 3QL
Insurance Brokers	Endsleigh Business Insurance Services The Quadrangle
	Imperial Square
	Cheltenham
	Gloucestershire
	GL50 1PZ
	Advice UK
	Suite 610, 150 Minories,
	London,
	EC3N 1LS
Solicitors	Governance, charityand corporate law Bates, Wells and Braithwaite London LLP
	2-6 Cannon Street
	London
	EC4M 6YH
	Employmentand commercial law
	Weightmans LLP
	India Buildings
	Water Street
	Liverpool
	L2OGA

As allowed under Section 60 of the Companies Act 2006 the company is exempt from the requirement to use “limited”.

LIVERPOOL GUILD OF STUDENTS AUDITORS REPORT TO THE MEMBERS OF LIVERPOOL GUILD OF STUDENTS For the year ended 31 July 2025 ne

1. STRUCTURE, GOVERNANCE & MANAGEMENT

Governing Document

Liverpool Guild of Students is a Students’ Union within the meaning of the Education Act 1994. The Guild is devoted to the educational! interests and welfare of its members and is an independent representative 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 & Articles of Association effective from 1 August 2010, and a set of Byelaws, both approved by the membership, the University of Liverpool, and the Charity Commission. We also have a Memorandum of Understanding with the University of Liverpool. The Articles of Association state: The Guild will seek at all times to: (i) ensure that the diversity of its Membership is recognised and that equal access is available to all Members of whatever origin or orientation;

“B. The Guild will seek at all times to:

(ii) pursue its aims and objectives independent of any political party or religious group; and
(iii) pursue equal opportunities by taking positive action within the law to facilitate participation of groups discriminated against by society.
C. These Articles have been structured to give the Board of Trustees reasonable authority to manage the affairs of the Guild in a professional manner. The Members enjoy the right, 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 Trustees will give the utmost consideration to the views of Members.

;

D. Under the Education Act 1994, the University of Liverpool has a statutory duty to ensure that the Guild operates in a fair and democratic manner and is held to proper account for its finances. The Guild therefore works alongside the University of Liverpool in ensuring that the affairs of the Guild are properly conducted and that the educational and welfare needs of the Guild’s Members are met.”

Appointment of Trustees

Our Board of Trustees is responsible for ensuring the organisation remains fit for purpose, and for setting the strategy of the organisation in consultation with senior staff. It also approves all policy, our annual budget, and monitors organisational performance against agreed key performance indicators (KPIs).

The membership of the Trustee Board is defined as follows:

e Four Student Representative Officer Trustees ’ e Four Student Trustees
e Four External Trustees

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LIVERPOOL GUILD OF STUDENTS AUDITORS REPORT TO THE MEMBERS OF LIVERPOOL GUILD OF STUDENTS . For the year ended 31 July 2025 oN

The Student Representative Officer (SRO) Trustees are elected by the entire membership during a cross campus election and hold office for 12 months. As directed by the Education Act 1994, they can serve a maximum of two terms. The Student Representative Officers are the major union office holders described in the Education Act (1994).

The four Student Trustees are positions that are advertised and then appointed to by the Board and serve for a term of two years. They can serve a maximum of four terms, which may be either consecutive or non-consecutive. They must be a registered student at the University of Liverpool to hold office.

The four External Trustees are also positions that are advertised and then appointed to by the Board. They are recruited on the basis of their expertise and experience and hold office for a term of four years. External Trustees can serve for two terms. These can be consecutive or non-consecutive.

Trustee Induction and Training

All new Trustees participate in a comprehensive induction programme, which includes:

e Training - sessions cover skills and knowledge-based content; e Introductions to key staff and other Trustees; and
® Provision of the Union’s key policy, governance, and financial documents via a trustee’s SharePoint site.

On-going training needs for Student Representative Officer Trustees are monitored by the Chief Executive through 1-2-1s and regular catch-up meetings.

Trustees are allocated into a Mentor group consisting of an External Trustee, a Student Trustee, and a Sabbatical Officer Trustee.

Organisation

Trustee Board

The Board of Trustees administers the charity. The Board meets on several occasions throughout the year and there are three standing subcommittees convened under Article 45 of the Articles of Association covering operational areas of the Board’s remit. These are:

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» Resources & Audit Committee

As laid out in Byelaw 5, the Resources & Audit Committee is responsible for all financial matters of the organisation.

" Governance & Appointments Committee As laid out in Byelaw 6, the Governance & Appointments Committee is responsible for appointing new Trustees, monitoring the effectiveness of the Board, and acting as a discursive forum for all matters relating to effective governance.

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LIVERPOOL GUILD OF STUDENTS AUDITORS REPORT TO THE MEMBERS OF LIVERPOOL GUILD OF STUDENTS For the year ended 31 July 2025

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a = People, Culture and EDI (Equality, Diversity and Inclusion) Committee

As laid out in Byelaw 14, the People Culture and EDI Committee monitors the approach to people and culture, including overseeing the development of relevant policies, procedures and regulations, and ensuring best practice and compliance with employment law. The committee also monitors equality and diversity in the Guild’s role as an employer. Finally, the committee undertakes a number of duties relating to the management of the Chief Executive.

Guild Summit

The Guild Summit is made up of 50 students, who are selected by sortition to reflect the wider student body, and has the following authority (as set out in the Articles):

Make recommendations to the Trustees;
o Discuss and debate issues pertinent to students; © Make non-binding motions of no-confidence in one or a number of Trustees; and o Consider any business referred to Guild Summit by the Trustees and other Guild bodies.

Annual Members Meeting

Under our articles, we are required to hold an Annual Members Meeting each year, presenting our accounts and the Trustees’ Annual Report to the membership. The Annual Members Meeting took place on Wednesday 30" April 2025.

Chief Executive

A Chief Executive is appointed by the Trustees to manage the day-to-day operations of the charity. To facilitate effective operations, the Chief Executive has delegated authority, within terms approved by the Trustees, for operations including finance, employment, Guild operations, governance, membership services, marketing and communications, and other related activity.

Related Parties and Co-operation with Other Organisations

The University of Liverpool is the parent institution of Liverpool Guild of Students. The Guild received a revenue block grant in the year from the University of Liverpool of £1,955,464 (2024: £1,897,344).

The Guild also occupies a building owned by the University, which also pays for utilities. This non-monetary support is intrinsic to the relationship between the University and the Guild.

Although recommended by the Charities SORP, which has been adopted for this and future financial years for due compliance with the requirements for Students’ Unions provided for in the Charities Act 2011, it is not possible to identify an estimated value to the Guild for this free serviced accommodation as the University does not provide separate property values for its buildings to the occupiers. Although the Guild continues to generate supplementary

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LIVERPOOL GUILD OF STUDENTS AUDITORS REPORT TO THE MEMBERS OF LIVERPOOL GUILD OF STUDENTS For the year ended 31 July 2025

an funding from various mutual trading activities, it will always be dependent on the University’s support.

The Trustees consider it reasonable to anticipate that this or equivalent support from the University will continue for the foreseeable future, as the Education Act 1994 imposes a duty on the University to ensure the financial viability of its student representative body in one form or another. The Trustees therefore consider the Guild to be financially viable for the foreseeable future.

The Guild President and one other Student Representative Officer are members of University Council.

Pay Policies for Senior Staff

The remuneration of key management personnel is set by the Board, with the policy objective of ensuring that they are provided with appropriate incentives to encourage enhanced performance and are, in a fair and responsible manner, rewarded for their individual contributions to the Guild’s success. Delivery of the Guild’s charitable vision and purpose is primarily dependent on our key management personnel and staff costs are the largest single element of our charitable expenditure.

In 2022 an organisation wide pay-review was carried out to ensure salaries were in keeping with comparable roles in the sector, and more widely. Staff feedback was sought during this process.

Risk Management

The Board, and subcommittees, strategically monitors major risks, and the effectiveness of systems and procedures designed to manage them. ;

The Guild’s risk register is an active document, which is regularly reviewed and provides focus on areas of greatest importance. The register includes a comprehensive assessment of each risk and its context, accompanied by a specific set of measures intended to address the potential impacts.

A dashboard has been developed to provide the Trustees with a strategic overview of these ; current risks, how each is currently rated, and how this rating has changed over time. Any changes to risk levels, or significant changes to management strategies, are outlined in the dashboard. The dashboard is presented at each Board meeting with each subcommittee reviewing the risks relevant to their duties in more detail. The plans and strategies for managing risk include maintaining effective internal controls, staff and student training, incident-reporting and monitoring systems, and appropriate insurance cover.

2. OUR PURPOSES AND ACTIVITIES

Purpose

The Guild’s Strategic Plan outlines how the organisation will achieve its mission to offer excellent opportunities, services and facilities which improve, enrich and develop the lives of all students at the University of Liverpool. The detail of this plan, and the supporting Excellence Plans, are detailed below in Future Plans. The Guild’s Articles identifies its charitable objects as follows:

LIVERPOOL GUILD OF STUDENTS AUDITORS REPORT TO THE MEMBERS OF LIVERPOOL GUILD OF STUDENTS For the year ended 31 July 2025

“The advancement of education of Students at the University of Liverpool for the public benefit by: -

e providing opportunities for the expression of Student opinion and actively representing, supporting and advising students;
e acting as the recognised representative channel of communication between Students and the University of Liverpool and other external bodies;
¢ promoting the interests and welfare ofStudents at the University of Liverpool;
e facilitating social, cultural, sporting and recreational activities and forums for discussions and debate for the personal development of its Students, and providing services and support for its Students; and .
e working with other students’ unions and affiliated bodies.”

Public Benefit

in pursuit of these aims for the public benefit, the Guild works to engage the diversity of its membership, ensuring they feel recognised, valued, and supported. The Guild has established departments and services for use by its members, and to support its work with the University of Liverpool and other organisations on behalf of students. These are described below.

The Guild continues to represent the students of the University on relevant local, national, and international issues. The Student Representative Officers sit on over 40 University committees and meetings, covering a wide range of aspects of the student experience. in addition, officers sit ona number of committees within the city, focusing on topics such as student safety, and the nighttime economy.

The Guild and University jointly runs a Course Representative System, which ensures student voices throughout University decision making.

Policies relating to grant making

Liverpool Guild of Students recognises the importance of student activity, and endeavours to provide meaningful support to students running societies. In addition to logistical support, and the provision of venue spaces, the Guild makes available a pot of money for societies to bid into.

Societies are invited to apply for funding from this pot to support their activity, through a process called Spend it. A model of participatory budgeting, is used to allocate these funds, putting decision making in the hands of student societies. Mini Spend It is open to bids of up to £350.00, while Big Spend It provides funding of between £350.00 and £4000.00.

Agreed criteria help ensure that decisions are in line with the Guild’s charitable objects, whilst giving participants the flexibility to agree priorities and work collectively.

To enable societies to organise welcome events, all societies are given £50 to fund this type of activity. Money that is not used is recouped by the Guild later in the year, so it can be redistributed through the process outlined above.

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LIVERPOOL GUILD OF STUDENTS AUDITORS REPORT TO THE MEMBERS OF LIVERPOOL GUILD OF STUDENTS

For the year ended 31 July 2025

en Society membership continues to be free, enabling students to participate in multiple groups, and try out a range, without cost being a barrier. This continues to prove successful in increasing societies memberships.

Activities

The Guild undertakes and facilitates a wide range of services and activities;

Commercial Services

The Guild runs a number of retail, venues, and licensed trade activities which make a surplus that is reinvested into the organisation.

The Guild’s venues provide students with a place to meet, including a coffee shop and bars. The Guild works closely with Hospitality Liverpool, who provide a range of food within the Courtyard and Sphinx.

The Guild houses Liverpool's second largest live music venue, the Mountford Hall. This venue is used for external gigs, as well as awards ceremonies, performances, and formal dinners.

Space is available for societies to book for a range of[activities,][including][performances,][dinners,] and external speakers. Venue staff provide advice and support to groups wishing to book this space and the necessary technical support to deliver their events.

The Guild also operates a shop, selling a range of pasties, confectionary, sandwiches, hot and cold drinks, stationery, clothing, and toiletries. In addition, the Guild runs an online shop selling a range of University crested clothing and other merchandise.

Membership Services

The Membership Services Department is made up of three main teams; Advocacy, Democracy and Campaigns, and Student Activities.

The Advocacy Team’s work includes supporting and developing course representatives, providing academic, housing and welibeing advice, and supporting Guild officers in committee activity.

The Democracy and Campaigns Team facilitates student-led campaigning, working closely with Student Representative Officers. They also ensure the Guild is a democratic, involving organisation, through. delivering elections, administering the Guild’s Change It platform and facilitating meetings of the Summit.

The Student Activities team supports the work of student societies and provide volunteering opportunities, offering students the chance to lead activities, develop new skills and meet other students. They work closely with the University to develop Hall Students Committees, ensuring : that students have the best possible experience living in university accommodation. In addition, the team run a Give it a Go schedule; a diverse programme of events where students can learn new skills, meet new people and visit new places.

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LIVERPOOL GUILD OF STUDENTS AUDITORS REPORT TO THE MEMBERS OF LIVERPOOL GUILD OF STUDENTS For the year ended 31 July 2025

i The team also has a range of activities to support sustainability. Working closely with students, the University, and other stakeholders, they offer opportunities for students to have a positive impact on the environment around them. Volunteers have worked with local schools, developed innovative approaches to sustainability challenges and worked to embed sustainability in the curriculum. Finally, the team also supports fundraising activity and administers the Guild’s online volunteering platform.

Marketing

The Guild’s Marketing Team works across the organisations, to provide expert marketing support. This team coordinates the Guild’s main communication streams including all-student emails, and social media. They also manage the Guild’s website, which is used as a key communication tool, as well as being an outlet for ticket sales and the platform for Guild elections.

The team undertakes graphic design work, creating assets including Welcome materials, installations, campaign resources and promotional materials for events.

The team are also responsible for the generation of media sales income, offering opportunities to market their services and products to students during Welcome Week, and throughout the year.

The team manages relationships with the media, responding to enquiries, and taking proactive steps to secure positive media coverage.

Support Services

The Guild also has a number of central services, including reception, facilities and building management, HR, Governance and Executive Assistant Support. There is also a Finance Department that manages the financial functions of the Guild including the payment of invoices, production of management accounts and other financial functions.

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LIVERPOOL GUILD OF STUDENTS AUDITORS REPORT TO THE MEMBERS OF LIVERPOOL GUILD OF STUDENTS For the year ended 31 July 2025

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Ne 3, ACHIEVEMENTS AND PERFORMANCE

During 2024-25, the Guild’s work was guided by the priorities laid out in the Strategic Plan and accompanying Excellence Plans. Throughout the year the Trustee Board was kept updated on work undertaken and progress towards achieving the plan.

The Trustee Board approved an updated set of Key Performance Indicators (KPIs) for the Guild. The overall number of KPls was reduced, giving greater clarity, and focus on priority areas. The table below outlines the new KPIs and where data is available, tracks performance since 2021/22.

KeyPerformance indicator= 2028/20222022/2023(2023/2024 2028/2025Progress % of.studentswho feelthe Guildprovidesthemwith the ; : : HeEAE Se Soresoo support theyneed 42% 51%) CARDIO S 60% : %ofactiveGuildstudents{studentstaff,course —/ representatives, HSCmembers and society committee members}whofeelthattheirparticipationhasmadethem / moreemployable 47%) 55% 53%) 59%
%ofstudentswhofeelthatthe Guildeffectivelyrepresents SP SEASSSSeaBatePema irrseoS theiracademicinterests (GuildSurvey) 55% 6194) gggg)Ogg Oe
%ofstudentswhofeelthattheGuildeffectivelyrepresents fo theiracademic interests (NSS} 50% 72% 75% 78%
%ofstudentswhofeelthattheGuildoffersactivitiesand ao servicesthat are relevanttothem 67%) 75% 7A% 81% Financialcontribution {ofoutlets} to overall surplusforthe : : acc RGN PRES BZA
fAttendaneeatKeyEvents——=SSSsS=C~C~‘“~‘“‘“‘“<~C~dSCSC<C~‘dtCTTC SS ] D]
The Guild’s series ofWork Streams continued, bringing together officers and key staffto focus on
aspects ofthe Strategic Plan and officers’ manifestocommitments. These met regularlythroughout
the year, and focused on areas including; the cost of living crisis, rent and housing rights, mental
health and wellbeing, student safety, student voice and education, sustainability, and left out
students.

The key achievements for each of the Strategic Promises are outlined below.

We promise to support our members

The Guild is committed to ensuring members are supported throughout their time at the University. Asa result of student feedback, work in this area has focused on positively contributing to a safe and welcoming campus environment, combating student loneliness, enhancing wellbeing, and developing student employability, and providing access to high-quality, timely advice through the Guild’s Advice Team. Give it a Go Activities- this programme of low or no-cost alcohol-free events ran throughout the year, offering students opportunities to meet new people, get to know the city and beyond, and learn new skills. A wide range of societies offered taster sessions, introducing their activities to interested students.

We continued to work closely with the University to deliver a tailored Give it a Go programme for students living in university halls.

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LIVERPOOL GUILD OF STUDENTS AUDITORS REPORT TO THE MEMBERS OF LIVERPOOL GUILD OF STUDENTS For the year ended 31 July 2025

Student Leaders Conference- Once again, the Guild held a Student Leaders Conference, offering a series of workshops, speakers and activities aimed at improving employability, and with a particular focus on equality and diversity. Sessions included topics such as resilience and stress management, values-based leadership, personal branding on LinkedIn, and confidence and public speaking. Sessions were delivered by external experts, the National Union of Students, previous officers, and the University's Careers and Employability Team. The conference was particularly popular with Postgraduate Taught students, who made up 51% of attendees.

Bystander Intervention Training- The Guild’s Bystander Intervention programme was further embedded, with the appointment of a Project Coordinator to coordinate the project. In addition, an additional Adviser was appointed within the Guild’s Advice Team, increasing the amount of time that staff in these roles could spend delivering Bystander Intervention Training. The Guild continued to deliver this training to all first-year Undergraduate students in the Faculty of Health and Life Sciences.

The Guild also hosted weekly drop-ins, run by Liverpool Alcohol Community Services and We are With You, aimed at students seeking support about their drug or alcohol use.

Student Staff — The Guild employs University of Liverpool students and provides opportunities to work flexibly alongside their studies in the Bars, Union Brew, Retail Shop, Reception, Marketing, Graphic Design, Membership Services and Tech Teams.

The Year in numbers

e During 2024-25, 855 students received advice and support from the Guild’s Advice Team (900 in 2023-24, and 671 in 2022-23).
e 2,344 students undertook Bystander Intervention training, down from 3,000 in 2023-24, but up from 1400 in 2022-23.
e 141 students attended the Student Leader’s Conference. 96% of attendees felt the sessions empowered them to make change within their individual surroundings
e In 2025, 961 nominations were received for Guild Awards, celebrating the contribution students make to the University, the city, and the wider community. This was up from 590 in 2024.
e In 2024-25 Student staff were paid £426,842 for approx. 31,800 hours of work at the Guild (£452,605 for approx. 40,000 hours in 2023-24).

We promise to put members at the heart of decision making

The Guild’s core function is to represent the interests of our members. The Guild ensures that the University, the city and, through its membership of the National Union of Students (NUS), national government, considers the views of students when they make decisions.

This involves a range of different methods, including lobbying politicians, supporting student activism, attending city-wide meetings, making written submissions to sector bodies, and playing an active role on university committees. This year, the Guild has ensured that students’ voices and options on a wide range of topics. This has included;

e Submitted to the All-Party Parliamentary Group (APPG) on Student Funding and attending meetings of the group.
e Officers attended NUS’ National Lobby Day in Parliament, meeting with local MPs to ask them to support changes to the Renter’s rights Bill, to protect the interests students.

LIVERPOOL GUILD OF STUDENTS AUDITORS REPORT TO THE MEMBERS OF LIVERPOOL GUILD OF STUDENTS For the year ended 31 July 2025

a eSuccessfully lobbying city stakeholders to reintroduce a night-bus.
e Submitted to a range of consultations, including the Equality and Human Rights Commission public consultation on updates made to its statutory Code of Practice for services, public functions and associations, following a Supreme Court judgment.
- The Guild’s officers played an active role in the work of the Russell Group Students Unions (RGSU) Group.
e Guild officers joined working groups and boards which focused on changes to the University's Curriculum and reviewed the way in which students are supported during their time at the institution.

Course representatives- The Guild provided training and ongoing support to course representatives across the University. As part of their role, course representatives carried out Enhancement Projects in their departments, focusing on key student concerns. They worked with academic and professional services staff to develop recommendations and find solutions.

The Year in numbers

e 4,437 students voted in the Student Officer elections (4,232 in 2024 and 5,009 in 2023)
® 19 ideas submitted to the Guild through our Change it platform
e 71% of students believe the Guild offers them an opportunity to influence decision making within the Guild (65% in 2023-24).
e 598 course representatives were trained by the Guild
e 88 Enhancement Projects were completed by Course Representatives.

We promise to deliver excelient spaces and services

The Guild’s central location means it remains an important place for students to gather. To ensure the building remains welcoming, the liaison group between the Guild and University has continued to meet regularly, to consider building improvements.

This year, a number of building projects were carried out, including the resealing of the Mountford Hall floor, which successfully addressed disrepair, and now provides a greater level of protection. The Mountford continued to be a popular gig venue, hosting internationally renowned acts throughout the year. Summer 2024 also saw the redevelopment of the Guild’s coffee shop, moving from a full Starbucks franchise. Under this new model, the coffee and a number of other types of drinks were supplied by Starbucks Proudly Service, while the rest of the shop’s offer, including food and other drinks were designed and curated by the outlet management team, and sourced through NUS Services Limited.

The Guild’s Quiet Room was developed and opened in early 2025, providing a space for quiet reflection and a break from busy spaces on campus.

The Year in numbers

® There were over 553,559 visits to the Guild during 2024-25
e 36,398 attendees at Guild run events
® 80% of students believe that the Guild is doing either ‘Very well’ or ‘Well’ in providing events (77% in 2024, 73% in 2022 and 78% in 2023)

LIVERPOOL GUILD OF STUDENTS AUDITORS REPORT TO THE MEMBERS OF LIVERPOOL GUILD OF STUDENTS For the year ended 31 July 2025

a We promise to ensure all members benefit from the Guild —

The Guild is committed to identifying and addressing the barriers that prevent students from participating in, and benefiting from, the activities of the Guild.

During this year's officer elections further work, building on the achievement of previous years, was undertaken to encourage and enable candidates from under-represented groups including postgraduate students, Black students, Asian students, international students, and mature students. This was successful and led to an increase in international students, both undergraduates and postgraduates, standing for election.

The Guild took part in the Russell Group Student Unions’ International Student project, carrying out a survey and focus groups to gain insight into the participants’ experiences.

The Guild’s More than a Month project team led on organising celebration events, including Black History Month, Disability History Month, and International Women’s Day.

This year also saw the relaunch of Reclaim the Night, a march through the streets of Liverpool, aimed at challenging gender-based violence, and demanding safety at night.

The Guild also launched a Gender Expression Fund, which aims to help students express their gender identity by removing some of the financial barriers that they may face.

The Year in numbers

e There were 29,911 society memberships, and 36% of students were a member of at least one society (39% in 2023-24 and 35% in 2022-23)
e The Guild facilitated 238 student-led societies, up from 225 in 2023-24
e 92% of respondents to the Guild Survey were Very Satisfied or Somewhat Satisfied with the Guild (88% in 2023 and 2024) Levels of satisfaction continue to vary between groups, and these variations continue to be monitored, and reported to Board, and informs our work.
e 77.7% of NSS (National Student Survey) Respondents believe the Guild represents their academic interests. This is an increase from 75.04% in 2024 and 72.48% in 2023.
FINANCIAL REVIEW

The principal income sources for the Guild are the block grant provided by the University of Liverpool and funds generated through commercial activity.

The Guild produced a surplus for the financial year of £270,058 before the movement on the pension scheme liability (2024 £127,797). Net assets at 31 July 2025 stood at £61,040 (net liabilities as at 2024: £155,599). The cash and current asset investments balance at the financial year end was £2,478,251 (2024 £2,522,081).

in summary the Guild is in a stable financial position however the Trustees are cognizant of future pension liabilities arising from the SUSS (Students Union Superannuation Scheme) pension scheme — now closed to accrual for Guild staff— and the financial strategy of the Guild reflects this risk while adequately resourcing on-going charitable activities.

LIVERPOOL GUILD OF STUDENTS AUDITORS REPORT TO THE MEMBERS OF LIVERPOOL GUILD OF STUDENTS For the year ended 31 July 2025

ec Investment policy

The Investment Policy of the Guild is to hold the majority of its reserves in cash, spreading deposits between financial institutions in order to mitigate counterparty risk. Cash deposits are either instant access or fixed term with the balance being determined by cash flow requirements. The Guild has adopted an Ethical Investment and Exclusions Policy by which financial institutions are assessed against criteria before the Guild will make a deposit with them. Within the framework of managing risk, liquidity and ethical standards, the highest interest rates are selected to maximise investment return. policy and going concern concern The trustees have adopted a reserves policy, the objective of which is to protect the Guild and its charitable activities by ensuring adequate liquidity while the organisation adjusts to any short term (three to six months) changes it encounters in its financial and operating environment. Such changes might include:

Reserves policy and going concern concern

e Interruptions to the grant funding from the University;
Provision for unforeseen events;
e Staff notice and redundancy payments and/or legal fees in the event the Union is wound up.

At the same time the trustees want to ensure reserves are not too high in order to maximise the resources applied to the Guild’s charitable purpose, the ability to invest in the Guild’s fixed assets to maintain the quality and standards of its service provision, and the ability to meet the Guild’s contribution obligations to the Students’ Union Superannuation Scheme.

Following this policy the trustees have set a target of the Guild holding a minimum of six months’ core staffing and charitable delivery operating costs in unrestricted funds (not including the pension deficit reserve). Based on the 2024/25 financial year this target figure would equate to £1,348,649.

At 31 July 2025 the Guild held unrestricted funds of £1,775,408 (2024: £1,775,239) achieving its target level, with a separate reserve fund established to account for the pension deficit. The pension deficit fund sits on the balance sheet as a negative reserve set up under FRS 102 to represent the net present value of the future contributions required over 12 years to clear the pension fund deficit. At the year end the value of this deficit was £2,281,834 (2024: - £2,436,779). :

The trustees intend the Guild to reach the target level of reserves through continued investment in the quality of the activities and services on offer to members, in order to generate sufficient financial surpluses to both reinvest in those services, and to support the reserves position. Ongoing monitoring of the reserves is carried out by the Resources and Audit Committee on a quarterly basis. The reserves policy itself is reviewed every three years to coincide with the funding cycle of the Students’ Union Superannuation Scheme.

The following designated reserves have been created by the Trustees as at 31 July 2025:

e Fixed assets fund - £210,844 being the net book value of fixed assets purchased with unrestricted funds; and

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LIVERPOOL GUILD OF STUDENTS AUDITORS REPORT TO THE MEMBERS OF LIVERPOOL GUILD OF STUDENTS For the year ended31 July 2025

a eGuild Strategic Development Fund — £50,000, being a reserve for Student Representative Officer led initiatives to engage students in LGoS and to provide services to meet membership demand.
e Elizabeth Gidney Legacy - £55,010, being a reserve for the promotion of Representation and Democracy.

Going Concern

The Guild has net assets of £61,040, due to the recognition under Charities SORP (FRS 102) of the net present value of the funding deficit on the SUSS pension recovery plan. Further information is detailed in note 28 to the accounts. This is a long term commitment which ends in 2037 and the trustees are confident that annual payments towards this plan will be met out of income for each year.

After making appropriate enquiries including reviewing financial forecasts for the coming year, the trustees have a reasonable expectation that the Guild has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements.

Fundraising statement

The Guild raises funds outside of the University block grant via commercial income through the operation of licensed premises, entertainments, catering, retail and third-party advertising. The Guild does not raise funds via the usual fundraising channels that other charities utilise. For example, funds are not raised via money collections, Just Giving (or similar) pages, lotteries, cold calling or legacy donations. Occasionally funds might be raised for a specific project via grant applications, such as funding from local community groups to facilitate activities.

No professional fund-raisers or commercial participator carried out any activities 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 regulating fundraising and no voluntary standard of fund-raising in respect of Guild activities on behalf of the charity was undertaken. No persons acted on ‘ behalf of the Guild for the purpose of fundraising, and no complaints were received by the Guild about fund-raising activity by the charity. As the Guild does not undertake fund-raising activity outside of operating commercial outlets and grant applications, a strategy for protection of vulnerable people and members of the public in relation to fund-raising is not required.

FUTURE PLANS

In summer 2024 the Guild’s Board considered whether to develop a new Strategic plan, or to continue to focus on the priorities. It was subsequently agreed that the strategic objectives would remain broadly the same. Only the objective to “Invest in our spaces” was amended, changing to “Deliver excellent spaces and services”. This was intended to give a wider scope to this area.

These strategic objectives, or promises, are to: @ Support our members e Put members at the heart of decision making ® Deliver excellent spaces and services . e Ensure all members benefit from the Guild

LIVERPOOL GUILD OF STUDENTS AUDITORS REPORT TO THE MEMBERS OF LIVERPOOL GUILD OF STUDENTS For the year ended 31 July 2025

Each year, a set of key projects will be identified for each of these objectives, enabling the Guild to focus on the current needs of members, whilst maintaining a long-term perspective. For 2025-26, Departmental Plans have been created, outlining the key priorities and projects each area will focus on, to progress strategic objectives. Progress will be reported to the Board at regular points throughout the year.

A reduced set of Key Performance Indicators have been identified, to help measure progress.

The four promises are underpinned by a commitment to developing the organisation in four key areas. The following Excellence Plans will drive this work forward through the lifetime of the strategic plan:

e Communications e People e {T and Digital e Equality, Diversity and Inclusion

Underpinning this planned work was a commitment to the following values:

e Funand Friendly— Everyone is welcomed at the Guild, and we will create a home away from home for all our members.
e Ambitious — Everything we provide is the high quality our members deserve
e Innovative and Agile — we will be responsive and open to new ideas.
¢ Representative and Involving — our members lead us and are involved in shaping their own experience at every level, we will amplify your voices
e Professional and Responsible — we are inclusive, informative, respectful, human and inspiring.
e Sustainable - We've been here for over 100 years. We'll be here for hundreds more by being ethically, environmentally and financially sustainable.
STATEMENT OF TRUSTEES’ RESPONSIBILITIES

The charity trustees (who are also the directors of the Guild for the purposes of company law) are responsible for preparing a trustees’ annual report and financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the charity trustees to prepare accounts 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, including the income and expenditure, of the charity for that period. In preparing these accounts, the trustees are required to:

e select suitable accounting policies and then apply them consistently; ¢ observe the methods and principles in the Charities SORP 2019 (FRS 102);
make judgements and estimates that are reasonable and prudent;
¢ state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the accounts;
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in operation.

LIVERPOOL GUILD OF STUDENTS AUDITORS REPORT TO THE MEMBERS OF LIVERPOOL GUILD OF STUDENTS For the year ended 31 July 2025

re The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the accounts comply with the Companies Act 2006. The trustees 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.

The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company’s website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other[jurisdictions.]

Trustees’ statement of disclosure of information to the auditors

in so far as the trustees are aware at the date of approval of this report:
e there is no relevant audit information, of which the charitable company’s auditor is unaware, and
e the trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditor is aware of that information.

Approved by the Board of Trustees and signed on its behalf

Othman Ibrahim Chair of Trustees

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if
aa 9
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11 December 2025

a 18

LIVERPOOL GUILD OF STUDENTS AUDITORS REPORT TO THE MEMBERS OF LIVERPOOL GUILD OF STUDENTS For the year ended 31 July 2025

a Opinion

We have audited the financial statements of Liverpool Guild of Students (the ‘charitable company’) for the year ended 31 July 2025 which comprise the Statement of Financia! Activities, Balance Sheet, Statement of Cashflows and notes to the financial statements, including 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:

e give a true and fair view of the state of the charitable company’s affairs as at 31 July 2025, and of its incoming resources and application of resources, including its income and expenditure, for the year then ended;
e have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
e have been prepared in accordance with the requirements of the Companies Act 2006.

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.

Conclusions 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 contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, 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. lf 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.

Ne 19

LIVERPOOL GUILD OF STUDENTS AUDITORS REPORT TO THE MEMBERS OF LIVERPOOL GUILD OF STUDENTS For the year ended 31 July 2025

Opinion on other matters prescribed by the Companies Act 2006

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

"the information given in the trustees' report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
the trustees report has been prepared in accordance with applicable legal requirements. Matters on which we are required to report by exception In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the trustees report. We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:
¢ adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
e the financial statements are not in agreement with the accounting records and returns; or * certain disclosures of directors’ remuneration specified by law are not made; or * we have not received all the information and explanations we require for our audit.

Responsibilities of trustees

As explained more fully in the trustees’ responsibilities statement, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees 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 charita ble company or to cease operations, or have no realistic alternative but to do so.

Auditor’s responsibilities for the audit of the financial statements

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 Auditors’ 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.

\rregularities, 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:

es?

LIVERPOOL GUILD OF STUDENTS AUDITORS REPORT TO THE MEMBERS OF LIVERPOOL GUILD OF STUDENTS For the year ended 31 July 2025

Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:

e the senior statutory auditor ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations;
e we identified the laws and regulations applicable to the charitable company through discussions with directors and other management, and from our commercial knowledge and experience of the sector;
e we focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the charitable company, including the financial reporting legislation, Companies Act 2006, Charities Act 2022, taxation legislation, anti-bribery, employment, and environmental and health and safety legislation;
@ weassessed the extent of compliance with the laws and regulations identified above through making enquiries of management and inspecting legal correspondence; and
e identified laws and regulations were communicated within the audit team regularly and the team remained alert to instances of non-compliance throughout the audit.

We assessed the susceptibility of the charitable company’s financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:

e making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud; and
e considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations.

To address the risk of fraud through management bias and override of controls, we:

e performed analytical procedures to identify any unusual or unexpected relationships; e tested journal entries to identify unusual transactions;
e assessed whether judgements and assumptions made in determining the accounting estimates set out in Note 1 were indicative of potential bias; and
e investigated the rationale behind significant or unusual transactions.

In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:

© agreeing financial statement disclosures to underlying supporting documentation;
e reading the minutes of meetings of those charged with governance;
e enquiring of management as to actual and potential litigation and claims; and
e reviewing correspondence with HMRC, relevant regulators and the charitable company’s legal advisors.

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

LIVERPOOL GUILD OF STUDENTS AUDITORS REPORT TO THE MEMBERS OF LIVERPOOL GUILD OF STUDENTS For the year ended 31 July 2025

CE events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. 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: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditors’ report. ,

Use of our report

This report is made solely to the charitable company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company’s members those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company’s members as a body, for our audit work, for this report, or for the opinions we have formed.

(airs Pudi

Simon Hawkins (Senior Statutory Auditor) For and behalf of Dains Audit Limited .

Statutory Auditor Chartered Accountants

Suite 2, Albion House 2 Etruria Office Village Forge Lane Stoke on Trent Staffordshire $T1 5RQ pate..[W4 VS<>.

a 22

LIVERPOOL GUILD OF STUDENTS STATEMENT OF FINANCIAL ACTIVITIES

For the year ended 31 July 2025

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|||||||||| |---|---|---|---|---|---|---|---|---| |nN| |Unrestricted|Funds| |2025|2024| |)|General|Designated|_|Restricted| |Note|Funds|Funds|Funds|Total|Total| |£|£|£|£|£| |Income|from:| |Donations|and|legacies|2|2,094,463|-|-|2,094,463|1,984,679| |Charitable|Activities|3|2,162,372|-|-|2,162,372|2,212,093| |Other Trading|Activities|4|358,618|-|-|358,618|395,447| |Investments|5|56,730|-|-|56,730|65,453| |Other|Income|6|1,385|-|-|1,385|-| |Pension|Liability|Gain|28|0|-|-|-|-| |4,673,658|-|-|4,673,658|4,657,672| |Expenditure|on:| |Raising|Funds|589,322|18,972|608,294|635,155| |Charitable|Activities|3,749,067|69,825|(23,676)|3,795,216|3,894,721| |Pension|Deficit|Costs|28|53,420|-|-|53,420|134,833| |Total|resources|expended|7|4,391,809|88,797|(23,676)|4,456,930|4,664,709| |Net Income/(expenditure)|8|281,759|(88,797)|23,676|216,638|(7,037)| |Transfers|between|funds|22|(126,646)|126,646|-|-|-| |Net Movement|in|Funds|155,113|37,849|23,676|216,638|(7,037)| |Reconciliation|of funds:| |Total funds|brought forward|31|(661,539)|278,004|227,937|(155,599)|(148,540)| |Prior Year Adjustment|30|-|-|-|-|-| |Total funds|carried|forward|22|(506,426)|315,853|251,613|61,040|(155,599)|

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All amounts relate to continuing operations. All gains and losses recognised in the year are included above.

The notes on pages 26 to 41 form part of the financial statements.

pn 23

LIVERPOOL GUILD OF STUDENTS COMPANY NUMBER 07324992 BALANCE SHEET As at 31 July 2025

As at 31 July 2025	As at 31 July 2025	As at 31 July 2025	As at 31 July 2025	As at 31 July 2025	As at 31 July 2025
ll
	Note		As at		As at
			31-Jul-25		31-Jul-24
		£	£	£	£
FIXED ASSETS
Tangible assets	13		210,844		172,994
CURRENT ASSETS
Stock	14	114,927		99,496
Debtors	15	220,188		386,181
Investments	16	1,704,805		1,632,139
Cash at bank and in hand		773,446		889,942
		2,313,366		3,007,758
CREDITORS					.
Amountsfallingdue
withinoneyear	17	(965,138)		(1,107,937)
NETCURRENTASSETS			1,848,228		1,899,821
TOTALASSETS LESS CURRENT			2,059,072		2,072,815
LIABILITIES
CREDITORS
Amountsfallingdue	18		(1,998,032)		(2,228,414)
aftermorethan oneyear
NETASSETS/ (LIABILITIES)			61,040		(155,599)
FUNDS:
Restricted Funds	22		251,613		227,937
General Fund	22	1,775,408		1,775,239
Pension Deficit	22	(2,281,834)		(2,436,779)
			(506,426)		(661,540)
Designated Funds	22		315,853		278,004
			61,040		(155,599)

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The notes on pages 26 to 41 form part of the financial statements. Approved by the trustees of the Liverpool
Guild of Students on 11 December 2025. ,
ug B®
y R
Othman ( D
Ibrahim, Tru Lee) ° Gabrieta Tamas,Trustee
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en 24 :

LIVERPOOL GUILD OF STUDENTS STATEMENT OF CASH FLOWS For the year ended 31 July 2025

el

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||||||||||| |---|---|---|---|---|---|---|---|---|---| |2025|2024| |Total|Total| |Note| |£|£| |Net cash|provided by/(used|in) operating activities|24|82,816|(38,698)| |Cash|flows from|investing|activities:| |Proceeds|on|sale|of fixed|assets|-|-| |Purchase|of fixed|assets|(126,646)|(101,576)| |Net cash|provided|by (used|in)|investing|activities|(126,646)|(101,576)| |Change|in cash|and cash|equivalents|in the year|(43,830)|(140,274)| |Cash|and|cash|equivalents|at the|beginning|of the|year|2,522,081|2,662,355| |Cash and|cash|equivalents at the|end|of the year|25|2,478,251|2,522,081| |The|notes on|pages|26|to 41 form|part of the|financial|statements.|

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a 25

LIVERPOOL GUILD OF STUDENTS NOTES TO THE FINANCIAL STATEMENTS

For the year ended 31 July 2025

1 Accounting Policies

The Liverpool Guild of Students, which is a charitable company limited by guarantee and limited to £1 per member has adopted the following accounting policies:

a) Basis of accounting

The financial statements have been prepared in accordance with the 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) issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), the Charities Act 2011, the Companies Act 2006 and Generally Accepted Accounting Practice.

The Liverpool Guild of Students meets the definition of a public benefit charity under FRS 102. The financial statements are prepared under the historical cost convention or transaction value unless otherwise stated in the relevant accounting policy note(s). The financial statements are prepared in Sterling which is the functional currency of the charity and rounded to the nearest £.

b) incoming resources

Incoming resources are included in the Statement of Financial Activities (SoFA) when the charity has entitlement to the funds, any performance conditions have been met, the amount can be measured reliably and it is probable that the income will be received.

Income from charitable activities includes income received under contract or where entitlement to grant funding is subject to specific performance conditions and is recognised as earned. Grant income included in this category provides funding to support performance activities and is recognised where there is entitlement, certainty of receipt and the amount can be measured with reasonable certainty. Income received to deliver services over a specific period covering more than one financial year is accounted for over the specific period; related expenditure is accounted for when incurred.

Investment income relates to interest earned through holding assets on deposit.

c) Donated services and facilities

Donated services and facilities are recognised as income when the charity has control over the item, any conditions associated with the donated items have been met, and the receipt of economic benefit can be measured reliably. In accordance with the Charities SORP (FRS 102) the general volunteer time is not recognised and refer to the Trustees report for more information about their contribution.

Donated services and donated facilities are recognised on the basis of the value of the gift to the charity which is 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 recognised in the expenditure for the period. .

d) Support costs allocation

Support costs are those that assist the work of the charity but do not directly represent charitable activities and include office & admin costs, facility costs and supporting marketing costs.

I 26

LIVERPOOL GUILD OF STUDENTS NOTES TO THE FINANCIAL STATEMENTS

For the year ended 31 July 2025

e) Governance costs allocation

Governance costs are those costs related to the governance of the entity, to allow it to operate, and to generate information for public accountability. Direct costs will include audit and accountancy, legal advice to trustees and costs of trustees meetings.

f) Funds

Unrestricted funds are funds which are available for use at the discretion of the Trustees in furtherance of the objects of the entity and which have not been designated for other purposes.

Designated funds are unrestricted funds that have been set aside by the Directors 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 that are used in accordance with specific restrictions imposed by donors or that have been raised by the entity for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.

g) Fixed assets and depreciation

Fixed assets are stated at cost less accumulated depreciation. Assets are not capitalised below £500 cost per item/set.

Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value over the useful economic life of that asset as follows:

i. Property Improvements: 5% straight line per annum ii. Office Equipment and Fixtures & Fittings: 10% - 33.3% straight line per annum ii. Specialist Equipment: 20% - 33.3% straight line per annum
iv. IT equipment: 20% -33.33% straight line per annum

h) Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

i} Debtors Trade and other debtors are recognised at the settlement amount due after any trade discounts offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
j) Current asset investments Current asset investments are short term highly liquid investments and are held at fair value. These include cash on deposit and cash equivalents with a maturity of up to 3 years.

k) Cash at bank and in hand

Cash at bank and in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
1) Creditors and provisions Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be

LIVERPOOL GUILD OF STUDENTS NOTES TO THE FINANCIAL STATEMENTS

For the year ended 31 July 2025

measured or estimated reliably. Creditors and provisions are normally recognised at their settlement after allowing for any trade discounts due.

m) Financial instruments

The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.

n) Pension costs

The Guild participates in the Students’ Union Superannuation Scheme (SUSS) and the University of Liverpool Pension Fund (ULPF). Both schemes are defined benefit schemes which are externally funded and contracted out of the State Second Pension. The funds are valued at least every three years by a professionally qualified independent actuary with the rates of contribution payable being determined by the trustees on the advice of the actuary. The schemes operate as a pooled arrangement, with contributions paid at a centrally agreed rate.

With effect from 30 September 2011 the SUSS Scheme has been closed to future accrual. Since that date only deficit contributions have been paid to the Scheme. As explained in note 28 the accounts include the net present value of the funding deficit as required by the Charities SORP (FRS 102).

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 (NUSPS) which is a money purchase scheme contracted into the State Second Pension. Since the Liverpool Guild of Students’ staging date of ist April 2014, all permanent members of staff who are eligible jobholders are automatically enrolled into the scheme after a postponement period of 3 months.

A National Employment Savings Trust (NEST) has been set up in order to auto enrol any casual members of staff who become eligible jobholders.

o) Going Concern

The Union has net assets of £61,040 (2024: £155,599, net liabilities), due to the recognition under Charities SORP (FRS 102) of the net present value of the funding deficit on the SUSS pension recovery plan. Further information is detailed in note 28 to the accounts. This is a long-term commitment which ends in 2037 and the trustees are confident that annual payments towards this plan will be met out of income for each year.

After making appropriate enquiries, the trustees have a reasonable expectation that the Union has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements.

p) Significant judgements and estimates

Preparation of the financial statements requires management to make significant judgements and estimates. The items in the financial statements where these judgements and estimates have been made include assumptions around the financial assets and liabilities of pension scheme commitments, and the discount rate applied thereto, and the valuation of stock.

a 28

LIVERPOOL GUILD OF STUDENTS

NOTES TO THE FINANCIAL STATEMENTS

	Forthe year ended 31 July 2025	Forthe year ended 31 July 2025	Forthe year ended 31 July 2025
				General Funds	Designated Funds			Restricted Funds			2025	5024
				£			£		£		£	£
2	Donations
	University Block Grant	~		1,955,464		-			-		1,955,464	1,897,344
	OtherVoluntary Income			138,999		-			-		138,999	87,335
				2,094,463		-			-		2,094,463	1,984,679
3	Income from charitable	activities
	Bar			1,003,672		-			-		1,003,672	989,461
	Coffee Shop			516,064		-			-		516,064	572,265
	Student Shops			453,278		-			-		453,278	454,630
	Entertainments			21,302		-			-		21,302	21,256
	Catering Facility Fee			30,000		-			-		30,000	30,000
	NUS Extra, Bus Pass &Graduate Portrait Commissions			134,539		.			.		134,539	141,622
	StudentServices e.g. Give it		a Go	3,518		-			-		3,518	2,859
	Net Clubs & Societies Income			-		-			-		-	-
				2,162,372		-			-		2,162,372	2,212,093
4	Incomefrom othertrading activities											,
	Venue Hire and Staff Recharges			232,144		-			~		232,144	252,884
	Media Sales			126,473		-			-		126,473	142,563
				358,618		-			-		358,618	358,617
5	Investments
	Interest received from Bank& Building Society Accounts		&	56,730		.			.		56,730	65,453
				56,730	-			-			56,730	65,453
6	Other Income
	incomefrom Paypal Ciosure			1,385			-			-	1,385	-
				1,385			-			-	1,385	-

Nt 29

LIVERPOOL GUILD OF STUDENTS NOTES TO THE FINANCIAL STATEMENTS

For the year ended 31 July 2025

7 Analysis of Expenditure

2025	Costof Sales	Staff Costs	OtherCosts	Governan ce Costs	Governan ce Costs	Support Costs	202 025Total Cost	2024 Total Cost
	£	£	£		£	£	£	£
Raising Funds	-	215,930	227,557		2,764	162,043	608,293	635,155
Charitable Activities:
Bars	314,107	391,629	151,336		5,341	313,160	1,175,573	1,209,879
CoffeeShop	177,692	241,108	58,367		2,973	174,349	654,489	746,007
StudentShops	240,171	125,412	26,021		2,440	143,086	537,130	572,048
Entertainments	-	95,643	4,503		624	36,592	137,362	131,372
Student Services E.g. Give it a Go	-	838,716	119,526		5,971	380,126	1,314,340	~—«:1,200,705
Student Services Net
Expenditure	-	-	(23,676)		-	-	(23,676)	34,712
	731,970	1,692,508	336,077		17,349	1,017,312	3,795,216	3,894,721
Other:
Pension Deficit Cost			53,420				53,420	134,833
	731,970	1,908,438	617,057		20,113	1,179,356	4,456,930	4,664,709
	ttt et
2024	Costof Sales	Staff Costs	OtherCosts	Governan ce Costs :		Support Costs	2024Total Cost	2023 Total Cost
	£	£	£		£	£	£	£
Raising Funds	-	214,480	252,398		4,824	163,453	635,155	511,835
Charitable Activities:
Bars	322,504	392,350	174,767		9,178	311,080	1,209,879	1,154,938
Coffee Shop	174,511	260,947	113,019		5,661	191,869	746,007	814,589
StudentShops	271,453	122,058	27,068		4,341	147,128	572,048	554,679
Entertainments	-	90,376	6,211		997	33,788	131,372	87,889
StudentServices E-B- Give it a Go	-	748,741	~=—«134,036	«=	9,111»	308,815	1,200,705	1,262,242
Student Societies Net
Expenditure	-	-	34,712		-	-	34,712	-
	768,468	1,614,472	489,813		29,288	992,680	3,894,721	3,874,337
Other:
Pension DeficitCost			134,833		-	-	134,833	57,163
	768,468	1,828,952	877,044		34,112	1,156,133	4,664,709	4,443,335

LIVERPOOL GUILD OF STUDENTS NOTES TO THE FINANCIAL STATEMENTS

For the year ended 31 July 2025

7 Analysis of Expenditure (cont.)

Of the total expenditure £4,480,606 was unrestricted (2024: £4,629,997) and £23,676 (income) was restricted (2024: £34,712). .

The support costs and governance costs are allocated to activity based on the proportion of that activity’s direct costs to total costs.

In addition to the staff costs above, there are a further £900,899 (2024: £849,902) which are included in governance costs and support costs.

Governance and support costs can be analysed as follows:

				2025	2024
				£	£
	Staff costs			900,899	849,902
	Staff Recruitment, training&	& social costs		25,998	24,077
	Facility Costs			28,949	49,457
	Office & finance costs			70,497	55,582
	Travel, subsistence& conference costs			26,289	6,661
	Legal, professional& consultancy			35,738	46,060
	Marketing/Website costs			39,490	48,972
	Equipment purchase, hire	& maintenance		13,930	19,453
	irrecoverable VAT			33,178	55,932
	Depreciation Sundry costs			22,742 1,758	33,574 574
				1,119,468	1,190,244
8	Net income/(expenditure)	fortheyear
	This is stated after charging:			2025	2024
	oO		:	£	£
	Depreciation			88,797	134,122
	Bad Debts incurred/(recovered)			481	905
	Auditors remuneration:
	Audit OtherServices			11,750 750	11,750 750

LIVERPOOL GUILD OF STUDENTS NOTES TO THE FINANCIAL STATEMENTS

For the year ended 31 July 2025

9 Analysis of staff costs and the cost of key management personnel

.	2025	2024
	£	£
	‘
Staffcosts were as follows:
Salaries and wages	2,509,820	2,425,554
Social Security costs	215,332	176,406
Employer's contribution to a defined contribution pension	72,569	65,168
Otheremployee benefits	11,616	11,726
	2,809,337	2,678,854

The following number of employees received employee benefits (excluding employer pension costs) during the year between:

			2025	2024
			No	No
£70,000	-£79,999	£79,999	2	1
£80,000	-	£89,999	-	~
£90,000	-	£99,999	1	1

The total employee benefits including pension contributions of the key management personnel were £360,695. (2024: £351,546).

10 Trustees’ remuneration and expenses

						2025	2024
						£	£
Trustees'	remuneration	and	employer's	NI	costs	108,767	109,428
Trustees’	expenses					7,438	3,974
						116,205	113,402

Each of the sabbatical officers received a salary of £24,256 per annum (2024: £23,550) as authorized in the Articles of Association of the Liverpool Guild of Students for the representation, campaigning and support work they undertake as distinct from their trustee responsibilities. The work includes voicing student opinion with the University and local community, defending and extending the rights of students through petitions, and discussions with local MP’s.

The trustees’ expenses were incurred by 12 (2024: 12) trustees in respect of travel and subsistence costs in the course of their duties.

No Trustee received remuneration for work undertaken in the delivery of commercial services unrelated to their role as Trustee (2024: nil).

LIVERPOOL GUILD OF STUDENTS NOTES TO THE FINANCIAL STATEMENTS

For the year ended 31 July 2025

11 Staff Numbers

The average number of employees (head count based on number of staff employed) during the year was made up as follows:

	2025	2024
	No	No
Raising Funds	11.92	12.5
Bars	55.46	79,4
Coffee Shop	28.04	38.5
Entertainments StudentShops	10.00 14.54	8.5 18.8
StudentServices	40.38	37.7
Governance	6.00	0.5
Support Services	24.08	31.0
	190.42	227.0

Of the above staff numbers, 111.5 (2024: 145) are staff employed under a zero hours contract.

12 Taxation

The charity is exempt from corporation tax as all of its income is charitable and is applied for charitable purposes.

Tangible Fixed Assets	.
	Office
	Equipmentand Fixtures&	Specialist Equipment	Computer Equipment	Total a
	Fittings
	£	£	£	£
Cost
At 1August 2024	650,924	152,062	81,771	884,757
Additions	59,573	60,588	6,485	126,646
Disposals	ee
At 31 July2025	710,497	212,650	88,256	1,011,403
Depreciation
At 1 August 2024	561,890	85,955	63,918	711,763
Charge forthe year	49,760	28,787	10,249	88,797
Disposals
At31 July 2025	611,649	114,741	74,169	800,559
Net Book Value
At31 July2025	97,847	97,908	14,088	210,844
At31July2024	89,034	66,108	17,853	172,994

LIVERPOOL GUILD OF STUDENTS NOTES TO THE FINANCIAL STATEMENTS

For the year ended 31 July 2025

14 Stock
		2025	2024
		£	£
Bars		24,148	26,843
Coffee Shop		8,154	2,693
Shops		82,861	69,960
		114,927	99,496
15 Debtors
		2025	2024
	,	£	£
Trade debtors		66,956	202,724
Other debtors		23,777	21,204
Prepayments& accrued income		129,456	162,253
		220,188	386,181
16 Current Investments
		2025	2024
		£	£
Carrying value and market value at beginning ofyear		1,632,139	971,444
Additions to investments at cost		2,303,600	1,705,001
Disposals atcarryingvalue		(2,230,934)	{1,044,306}
Carrying value and marketvalue atend ofyear		1,704,805	1,632,139
17 Creditors: amounts falling due within one year
		2025	2024
		£	£
Trade creditors		71,143	196,431
Social Securityand other taxes		39,010	48,530
University creditor		179,895	166,198
Other creditors		237,541	296,697
Pension liability		283,802	208,365
Accruals & deferred income		153,748	191,717
		965,139	1,107,937

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nt
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LIVERPOOL GUILD OF STUDENTS NOTES TO THE FINANCIAL STATEMENTS

For the year ended 31 July 2025

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||||||||||||||||| |---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---| |18|Creditors:|amounts|falling due|after|more|than|one|year| |2025|2024| |£|£| |Pension|Liability|1,998,032|2,228,414| |1,998,032|2,228,414| |19|Deferred|Income| |Deferred|income|comprises|of venue|hire|sales|invoiced|in|advance,|event tickets|sold|in|advance|and|the|discount| |relating|to|future|periods from|pension|deficit|contributions|paid|in|advance.|

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|||||||||||||||| |---|---|---|---|---|---|---|---|---|---|---|---|---|---|---| |2025|2024| |£|£| |Balance|brought forward|48,347|49,565| |Amounts|released|from|previous year|(48,347)|(49,565)| |Amounts|deferred|during the|year|6,911|48,347| |Balance|carried|forward|6,911|48,347| |20|Financial|instruments| |2025|2024| |£|£| |Financial|assets|measured|at|amortised|cost|206,009|360,587| |Financial|assets|measured|at|fair value|2,478,251|2,522,081| |Financial|liabilities|measured|at|amortised|cost|(674,424)|(851,223)| |Financial|liabilities|measured|at|fair value|through|the| |Statement|of|Financial|Activities|(2,281,834)|(2,436,779)| |Financial|assets|held|at|amortised|cost|comprise|trade|debtors|and|other|debtors|excluding|prepaid|costs.| |Financial|assets|measured|at|fair|value|comprise|short term|investments|and|cash|at|bank and|in|hand.| |Financial|liabilities|held|at|amortised|cost|comprise|trade|creditors,|other|creditors|and|accruals.| |Financial|liabilities|measured|at|fair value|through|the|Statement|of|Financial|Activities|comprise|the| |pension|deficit|contribution|liability.| |The|charity's|income,|expense,|gains and|losses|in|respect|of financial|instruments|are:| |2025|2024| |£|£| |Total|interest|income|for|financial|assets|held|at|amortised|cost|56,730|65,453| |Total|interest|expense|for financial|liabilities|held|at amortised|cost|3,180|5,235|

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LIVERPOOL GUILD OF STUDENTS NOTES TO THE FINANCIAL STATEMENTS

For the year ended 31 July 2025

21 Capital Commitments

At 31 July 2025 there was a commitment to purchase Union Brew Equipment at a liability £21,996 (2024: £69,000).

22 Statement of funds movement

==> picture [489 x 528] intentionally omitted <==

----- Start of picture text -----
|||||||||| |---|---|---|---|---|---|---|---|---| |Transfer|Balance| |01-Aug|Movement|in|Funds|Between|31-Jul| |2024|Income|Expenditure|Funds|2025| |£|£|£|£|£| |Unrestricted|funds:| |General|Fund|1,775,240|4,673,568|(4,338,389)|(335,011)|1,775,408| |Pension|Deficit|(2,436,779)|-|(53,420)|208,365|(2,281,834)| |(661,539)|4,673,568|(4,391,809)|(126,646)|(506,426)| |Designated|funds:| |Fixed|Asset|Fund|172,994|(88,797)|126,646|210,843| |Guild|Strategic|Development|Fund|50,000|-|-|50,000| |Elizabeth|Gidney|Fund|55,010|-|-|55,010| |278,004|(88,797)|126,646|315,853| |Restricted|Funds:| |Societies|own|income|223,746|23,676|-|247,422| |NUS|General|Election|Fund.|4,191|-|-|4,191| |"227,937|23,676|-|251,613| |(155,598}|4,673,568|(4,456,930)|-|61,040| |Transfer|Balance| |04-Aug|Movement|in|Funds|Between|31-5ul| |2023|Income|Expenditure|Funds|2024| |£|£|£|£|£| |Unrestricted|funds:| |General|Fund|1,769,557|4,657,672|(4,361,041)|{290,948}|1,775,240| |Pension|Deficit|{2,500,387}|-|(134,833)|198,441|(2,436,779)| |(730,830)|4,657,672|(4,495,874)|(92,507)|(661,539)| |Designated|funds:| |Fixed|Asset|Fund|214,609|-|(134,122)|92,507|172,994| |Guild|Strategic|Development|Fund|50,000|-|-|-|50,000| |Elizabeth|Gidney|Fund|55,010|-|-|-|55,010| |319,619|-|(134,122}|92,507|278,004| |Restricted|Funds:| |Societies|own|income|258,458|-|(34,712)|-|223,746| |NUS|General|Election|Fund|4,191|-|-|-|4,191| |262,649|-|(34,712)|-|227,937| |TOTAL FUNDS|(148,562)|4,657,672|(4,664,708)|-|(155,598)|

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LIVERPOOL GUILD OF STUDENTS NOTES TO THE FINANCIAL STATEMENTS

For the year ended 31 july 2025

22 Statement of funds movement (cont.)

Unrestricted funds

i. The pension deficit has been disclosed as a separate unrestricted negative fund to represent the net present value of the future contributions required over 12 years to clear the pension fund deficit

Designated funds

The designated funds are unrestricted funds that are created by the trustees for specific purposes.

e The fixed asset fund is the net book value of assets purchased with unrestricted funds.
.
e The Guild Strategic Development Fund is a fund set up for the support of trustee-led development projects to engage with the Guild’s membership.
e The Elizabeth Gidney Fund relates to a legacy received during 2012/13 which is to be allocated to projects that are appropriate to the memory of the bequeathed.

Restricted funds

The restricted funds comprise:

¢ The Societies’ own income balance represents the accumulated funds raised by individual societies.
e® The NUS General Election Fund represents funds received to be expended on general election campaigns.

Reserve transfers

Transfers are made from general reserves to other reserves in order to ensure that adequate funds are available in order to fulfil the purpose of each fund.

23 Analysis of net Assets between funds ~ current year

	General	Designated	Restricted	Total
	Funds	Funds	Funds
	£	£	£	£
Tangible Fixed Assets	-	210,844	-	210,844
Cash & shortterm investments	2,171,628	55,010	251,613	2,478,251
Other net current assets/(liabilities)	(396,221)	50,000	-	(346,221)
Defined benefit pension liability	(2,281,834)	-	-	(2,281,834)
	(506,427)	315,854	251,613	61,040

LIVERPOOL GUILD OF STUDENTS NOTES TO THE FINANCIAL STATEMENTS

For the year ended 31 July 2025

Analysis of net Assets between funds — prior year

	General	Designated	Restricted	Total
	Funds	Funds	Funds
	£	£	£	£
Tangible Fixed Assets	-	172,994	-	172,994
Cash & shortterm investments	2,239,134	55,010	227,937	2,522,081
Other net current assets/(liabilities)	(463,895)	50,000	-	(413,895)
Defined benefit pension liability	(2,436,779)	-	-	(2,436,779)
	(661,540)	278,004	227,937	(155,599)

24	Reconciliation ofnetincome/{expenditure) to net cashflowfrom
	operatingactivities

operating activities
	2025	2024
	£	£
Net movement in funds	216,638	(7,036)
Add back depreciation charge	88,797	134,122
(Profit})/loss on disposal offixed assets	-	9,068
(Increase)/decrease in stocks	(15,431)	(353)
(Increase}/decrease in debtors	165,993	(24,394)
Increase/(decrease) in creditors	(218,236)	(86,498)
Increase/(decrease) in deferred benefit pension liability	(154,945)	(63,608)
	«82,816 ~—«(38,698)
Analysis ofcashand cash equivalents
	2025	' 2024
	£	£
Cash in hand	14,114	13,509
Current accounts	759,332	876,433
Deposit accounts	1,704,805	1,632,139
	2,478,251	2,522,091

25 Analysis of cash and cash equivalents

LIVERPOOL GUILD OF STUDENTS NOTES TO THE FINANCIAL STATEMENTS

For the year ended 31 July 2025

26 Operating Lease Commitments

Operating Lease CommitmentsCommitments
	2025	2024
	£	£
Within one year	-	-
Within two to five years	-	-
Aftermorethanfiveyears	-	-

27 Related Party Transactions

The following have been identified as related party transactions per the requirements of FRS 102.

e The University of Liverpool: In the year the Liverpool Guild of Students received total grants of £2,094k (2024: £1,985k) from the University of Liverpool, there was £826k (2024: £1,028k) of purchase recharges (including payroll and building repairs} and £651k (2024: £654k) of sales recharges (including room hires, recharge of Arriva bus pass subsidy and staff recharges}. The Liverpool Guild of Students’ net year end creditor with the University of Liverpool was £163k as at 31 July 2024 (2022: 147k).
e Trustees of the Liverpool Guild of Students: see note 10 — Trustees remuneration and expenses.
® National Union of Students Services Ltd (NUSSL): Liverpool Guild of Students is an affiliated member of NUSSL who operate a purchasing consortium within the student union movement.

28 Pensions

The Guild participates in three pension schemes: the Students’ Union Superannuation Scheme (SUSS), the National Union of Students Pension Scheme (NUSPS) and the National Employment Savings Trust NEST.

sUSS

The Guild participates in the Students’ Union Superannuation Scheme, which is a defined benefit scheme whose membership consists of employees of students’ unions and related bodies throughout the country. Benefits in respect of service up to 30 September 2003 are accrued on a “final salary” basis, with benefits in respect of service from 1 October 2003 accruing on a Career Average Revalued Earnings (CARE) 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 2022 and showed that the market value of the scheme’s assets was £106.7m with these assets representing 44% of the value of benefits that had accrued to members after allowing for expected future increases in earnings. The deficit on an ongoing funding basis amounted to £133.6m. The assumptions which have the most significant effect upon the results of the Valuation are those relating to the rate of return on investments and the rates of increase in salaries and pensions. . The following assumptions applied at 30 June 2022:e The investment return would be 4.0% per annum before retirements and 2.0% per annum after retirement e Pensions accruing on post 1997 basis would revalue at 3.7% per annum and 3.4% per annum on the post 2000 basis I 39 ,

LIVERPOOL GUILD OF STUDENTS NOTES TO THE FINANCIAL STATEMENTS

For the year ended 31 July 2025

Present and future pensions would increase at rates specified by Scheme rules with appropriate assumptions where these are dependent on inflation.

The 2022 valuation extended the scheme’s recovery plan until May 2037 and recommended a monthly contribution requirement by each Participating Employer. This was expressed in monetary terms intended to clear the ongoing funding deficit over a period of 15 years and increased by 5% in October 2023 and at least 5% each year thereafter. These contributions also include an allowance for cost of the ongoing administrative and operational expenses of running the Scheme. These rates will be formally reviewed following completion of the next valuation due with an effective date of 30 June 2025. Surpluses or deficits which arise at future valuations will also impact on the Guild’s future contribution commitment. In addition to the above contributions, the Guild also pays its share of the scheme’s levy to the Pension Protection Fund.

SUSS is a multi employer scheme and as such it is not possible to account for it as a defined benefit scheme because the share of the overall deficit cannot be allocated to individual participants. The liability included in the accounts is therefore calculated as being the net present value of future funding payments.

In accordance with FRS 102, the net present value of the future contributions required over 12 years to clear the funding deficit is £2,281,834 (2024 - £2,436,799). In calculating this net present value, annual increases of 5% have been made and a discount rate of 5.6% (2024: 5.1%) representing the typical yield of high quality corporate bonds has then been applied. The calculation of the net present value in 2025 resulted in pension interest cost of £131,955 (2024: £46,872) and a pension gain of £78,535 (2024: Enil). This gave a net pension deficit charge to the SOFA of £53,420 (2024: net deficit charge of £134,833).

NUSPS

As a consequence of the SUSS scheme closing to future accrual on the 30 September 2011 the Guild has made available to permanent staff the National Union of Students Pension Scheme (NUSPS) with Scottish Equitable PLC which is a money purchase scheme. Eligible jobholders are automatically enrolled into the scheme after a postponement period of 3 months and can choose their level of contributions between 4% and 6%. The employer contribution was 3% and 6% for former members of the SUSS scheme to March 2019 and 4% and 6% thereafter. The total contributions paid into the scheme by the Guild for the year to 31 July 2025 amounted to £149,498 (2024 ~ £133,743).

NEST

As a consequence of auto- enrolment, a National Employment Savings Trust has been set up in order to auto enrol any applicable Casual staff.

To date no payments have been made to the scheme.

29 Legal status of the charity

The charity is a company limited by guarantee and has no share capital. In the event of winding up the liability of each member is limited to £1.

30 Prior Year Adjustments

There have been no prior year adjustments made.

LIVERPOOL GUILD OF STUDENTS NOTES TO THE FINANCIAL STATEMENTS

;

For the year ended 31 July 2025

31 Comparative statement of financial activity

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||||||||| |---|---|---|---|---|---|---|---| |Unrestricted|Funds| |2024| |General|Designated|Restricted| |Note|Funds|Funds|Funds|Total| |£|£|£|£| |income|from:| |Donations|and|legacies|2|1,984,679|-|-|1,984,679| |Charitable|Activities|3|2,212,093|-|-|2,212,093| |Other Trading|Activities|4|395,447|-|-|395,447| |Investments|5|65,453|-|-|65,453| |Other|Income|6|-|-|-|-| |Pension|Liability|Gain|28|-|-|-|-| |4,657,672|-|-|4,657,672| |Expenditure on:| |Raising|Funds|612,294|22,861|-|635,155| |Charitable|Activities|3,748,748|111,261|34,712|3,894,721| |Pension|Deficit|Costs|28|134,833|-|-|134,833| |Total|resources|expended|7|4,495,875|134,122|34,712|4,664,709| |Net Income/(expenditure)|8|161,797|(134,122)|(34,712)|(7,037)| |Transfers|between|funds|22|(92,507)|92,507|-|-| |Net Movement|in|Funds|69,291|(41,615)|(34,712)|(7,037)| |Reconciliation|of funds:| |Total|funds|brought forward|31|(730,830)|319,619|262,649|(148,562)| |Prior Year Adjustment|30|-|-|-|-| |Total|funds|carried forward|22|(661,540)|278,005|227,937|(155,599)|

----- End of picture text -----

a 41

2025-07-31-accounts

Reportand Financial Statements

a

REFERENCE AND ADMINISTRATIVE DETAILS

Directors and Trustees

During the year:

Rowan Bradbury

Company Secretary

Tricia O’Neill

Registered office

en

1. STRUCTURE, GOVERNANCE & MANAGEMENT

Governing Document

Appointment of Trustees

reo

Trustee Induction and Training

Organisation

Trustee Board

» Resources & Audit Committee

I

Guild Summit

Annual Members Meeting

Chief Executive

Related Parties and Co-operation with Other Organisations

a

Pay Policies for Senior Staff

Risk Management

2. OUR PURPOSES AND ACTIVITIES

Purpose

LIVERPOOL GUILD OF STUDENTS AUDITORS REPORT TO THE MEMBERS OF LIVERPOOL GUILD OF STUDENTS For the year ended 31 July 2025

Public Benefit

Policies relating to grant making

a

Activities

Commercial Services

Membership Services

Marketing

Support Services

Ne 3, ACHIEVEMENTS AND PERFORMANCE

We promise to support our members

The Year in numbers

We promise to put members at the heart of decision making

LIVERPOOL GUILD OF STUDENTS AUDITORS REPORT TO THE MEMBERS OF LIVERPOOL GUILD OF STUDENTS For the year ended 31 July 2025

We promise to deliver excelient spaces and services

The Year in numbers

The Year in numbers

LIVERPOOL GUILD OF STUDENTS AUDITORS REPORT TO THE MEMBERS OF LIVERPOOL GUILD OF STUDENTS For the year ended 31 July 2025

ec Investment policy

Reserves policy and going concern concern

Going Concern

Fundraising statement

Underpinning this planned work was a commitment to the following values:

Trustees’ statement of disclosure of information to the auditors

a Opinion

Basis for opinion

Conclusions relating to going concern

Other information

Opinion on other matters prescribed by the Companies Act 2006

Responsibilities of trustees

Auditor’s responsibilities for the audit of the financial statements

es?

Use of our report

(airs Pudi

For the year ended 31 July 2025

el

For the year ended 31 July 2025

1 Accounting Policies

a) Basis of accounting

b) incoming resources

c) Donated services and facilities

d) Support costs allocation

For the year ended 31 July 2025

e) Governance costs allocation

f) Funds

g) Fixed assets and depreciation

h) Stocks

k) Cash at bank and in hand

For the year ended 31 July 2025

m) Financial instruments

n) Pension costs