T ' S UNIVERSITY OF SALFORD
S LJ STUDENTS, UNION
Enhancing Students, Lives
UNIVERSITY OF SALFORD STUDENTS, UNION
Trustees, Report and Accounts
16 months ended 31 July 2021
Registered charity number-
Registered company number..
1189354
12532982

UNIVERSITYOF SALFORD STUDENTS. UNION
Referen¢e & administrative details
Charity Name
Reglstered Charlty Numb?r
R•gistor8d Company Numbgr
Reglstered Offlce
University of Salford Students. Union
1189354
12532982
University House
The Crescent
Salford
M5 4wr
Dlrectors and Trustees
I directors of the compary are aL8otrustees of the charlty. there are no other Iruste6s.Th&trust88s are..
Nam8
Abbie Sloran
Akeem Adeniyi Ojelola
Cynthia Onyemuwa
Damilola Temidayo Falake
Desrae Ogden
Emma Lawton
Eyad Abouelkhair
F&slus Robert
Lee Hull
Nahoed Nazir
Nell Crimes
Samantha Wilkinson
Walid Hammoud
Appolntad
1 July 2021
1 August 2020
1 July 2021
1 July 2021
1 July 2021
1 July 2021
1 July 2021
1 July 2021
1 August 2020
1 July 2021
l August 2020
l July 2021
l Juty 2021
Posltion
Chair (from 117121)
Reslgnatlons
The following resigned from theiT poslllon as Trustees in tho period..
Name
Appolntod
Reslgnfjd
Po$ltlon
Adedapo Onl Oluwalogbon
1 August 2020
30 June 2021
Beth Hill
1 August 2020
30 June 2021
Chris Hy8m8
l August 2020
30 June 2021
Harrison Pi¢kard
1 August 2020
30 Jun8 2021
Hop8 Bragg
1 August 2020
30 June 2021
Jessica Wilkinson
1 August 2020
30 June 2021
Mousa Yusuf
1 August 2020
30 June 2021
Shian Chaudhry
1 August 2020
30 June 2021
Stephen We8tgarth
24 IAarch 2020
30 June 2021
Deputy Chair
Temiloluwa Adebayo
24 Marth 2020
30 June 2021
Chair
Page l of 31

UNIVERSITY OF SALFORD STUDENTS. UNION
Company Sècrètary
Ed Molon8y
Key Management Personnel
Chlef Executive Officer
Ed Moloney
Deputy CEO and Dlreclor of Engagement
Rhiannon Roberts
Director of AdvoGacy
Stevle Wise Ilo 301061211, Lauren Beckett (from 011071211
Advisors
Audltors
Dains LLP, Suite 2 Abion House. 2 Etruria Office Vlllage,
Forge Lane, Elruria, Sloke-on Tronl, ST1 5RQ
Bankers
The Cooperative Bank PLC. PO Box 101, 1 Balloon Street,
Manchester, M60 4EP
Insurancg
Endsleigh Business Insuranc8 Services, Hadley House.
Shurdington Road, Chellenh8m Spa, Gloucestershire, GL51
4UE
Truste8s' R8POrt
The Trustees, who are directors for th& purposes of company law, present the annual report together with the
financial statements and audllors. r8POrt of Ihe charitable company for the perfod end 31￿ July 2021.
The Iruslees have adopted the provisions of the Accounting and Reporting by Charities.. Statement of
Recomrnended PTrcllce applicable to charities preparing their accounts In acwrdance Wth the Financial
Reporting Standard applicable in the UK and the Republic of Ireland IFRS 1021 {effective 1 January 2019).
Structure, Governance & Management
Governlng Document
The Universbly of Salford Students. Union Ilhe Union) is a students, tjnlon wlthln the meanlng of the Education
Act 1994. The Union is devoted lo the educational interests and welfare of its m8mb6r8. It Is th8 ind8p8ndant
repr￿entative b(xJy of the students at the University of Salford.
During the year an important and substantial change In the conslltutlon under which the activits'es of the Union
are cariiad out wa8 completed. The Trustees determined that it was In tha b8sI interests of th8 Unlon to
reslnjclvre lo minimise risk to Its assets whilst enabling the Union to achieve its charitable objectives.
The Union completed a pra￿sS of incorporation by Settl￿ up a company limited by guarantee and without
shares {Company number 125329821 and cornpleled ils registralion as a charity (Charity numbèr 1189354). At
Ihe close ol business on 31 July 2020 the activllies, funds, assets and liabilities of the Unson were transferred
lo the naw charltsble company. The unincorporated Union was wound up in 2020121.
We are govemed by Artlcles of Association effeclw8 from the 1Bt of AugL*sI 2020, a set of Bye-laws, th6
Unlversty of Salford and tha CharSly Commission. We also have a Memorandum of Understanding wllh the
Untversty of Salford. The Artides of Association state the Union's prsnciple objectives as=
The Union will seek al all limes to..
{il ensure that the diversity of its Student Membarshlp is recognised and that equal arL8SS IS
available lo all Student Members of whatever Origin or orSentatson',
{iil pursue ils airns and objectives independent of any political paty or religious groupi and
{Ilil pursue equal opportunilles by taking posKive actlon wthln tho law lo facililale participation
of groups dlscriminated against by society.
P89• 2 of 31

UNIVERSITY OF SALFORD STUDENTS. UNION
These Articles have been structured to give the Board of Trustees reasonable authority to manage the affairs
of the Union in a professional manner. The Student Members enjoy tho right, which must ￿ exewsed in
accordance wllh charity law, to elect a prOport￿n of the Trustees and to dismiss all of the Trustees. The Board
of TnJste88 wlll g￿8 the utmost considèratlon to the views of Studènt Members.
Under the Education Act 1994, the University of Salfor(J has a statutory duty lo ensure that the Union operdles
in a fair and democratic manner and is held to proper a￿Unt for ils finances. Th8 Union therefore works
abngside the University of Salford in ensuring that the affairs of the Union are properfy conducted and Ihat the
educational and welfare needs of the Unlon's StULlenl Members are met..
Public Bonefit slatomont
The trustees h8ve given due consider8tion lo Charity Commission published guidance on the operation of the
publlc benefflt r8quSr8m8nl 8nd ar6 satlsfled that tho Cha￿table company meets thase requlrements.
The Trustoo Board
The Union is democratically controlled through the annual election of a tgam of student rgpresenlalives who
form part of the Union's Board of Trustees. The mambership of the Tlustee Board is as follows:
Flve elected Sabbatical Trus18es
Four Student Trustees
Four Lay TnJslee8
The Trustees determine polscy for all areas of Union a¢livity. The sabbatical trusloes are full limg officois of
the organisalion and work for the Union for a year ether during or al tho end of thoir degree coursg to
represent students on a full-time basis. The Tru8te8 Board remit can b8 summ8rised as follows..
Strategy
Flnanclal
Formulating, monitortng and implementing plalls
Providing effective financial managamenl and ovarsighl including Ihe fornialion of
bud9els
Monitorin9 and evalltaling the performance of staff, services and actlvltles
Line managing and support the Chlef Execub've incjuding perfom)anc8 monllorlng
Ensltrlng ther8 are effsctive reportlng and monllorlng processes In place to effedvely
rnanage the risks of the Unio
Consultation
Ensuring there is a comprehensive progrdmme of member consultation in place
Involvement
Promotlng the effectbve Involvement of members
Trustee recruitment Ensuring the effective eleclionlseleclion, induction and appraisal of trjslee board
members
Considering ¢ommitlae reports
P8rfomianc8
L5n8 manaoem8nt
Rlsk management
Reportlng
Th8 Sabbatlcal Trustèes work alongsld8 the p8miananl Union staff to implement and carry out the strategy
and policies sel by the Trustee Board. The permanent staff team is managed by the Chief Executlve Officer,
who is diredly accountsble lo the Trustee Board for the Union's perfornian￿.
Rlsk management statement
Ri8k managom&nl is the re8ponslbillly of the Trustee Board. Th6 senior managers of the Unlon hav8 delegated
authority for idenlifylng the risks fa¢Sng the organlsalion and reporting these lo the Trustees as they arise In
relation lo items of business al the Board. In addition, the senior managers provide the information to enable
the Tnjslees lo undertake an annual review.
The Trustee Board examines the major strategSc, buslness and operational nsks which the Union faces on an
annual basis. The Trustees confimi that systems have b88n established lo enable regular reports lo be
produced.
Rè8èrvè$
Detsils of the funds are set out below.-
Pag# 3 of 31

UNIVERSITY OF SALFORD STUDENTS. UNION
Itom
31 July 2021
31 July 2020
Unrestiicted funds
533.535
351,681
D8Si9nated Fixed Assets Fund- being a fund representing the nel b(x)k
value of lixed assets owned by Ihg Gharitsble company
377,014
447.884
Restricted funds
403,900
80,394
Total Reserves
1,314,449
879,959
(2020 re8eNe8 are shown for the pr8dec*s8or charity for comparabilily}.
Appolntmont of Tru8ts08
The Union's Articles of Assooalion states thera shall be ￿01 more than fiv8 SabbaticBI officer Tnjstees,
81ectod...,' not mots th8n four Sludont Trus16es. &ppointed....- &nd not more th8n four Lay Trust68S.
8ppoint8d....
Sabbaticals
Up lo fwe Sabbaltcal Officer Trustees are elected by secret ballot of the
Members of the Union at an election held in acLor(Sance with the Election
Regulations. They remain in post for a tom of one year between the 1 July
and the 30 June. They may be re-elect￿ for 8 maximum of one further term
of one year. This may be ￿nSecutive or non-conseculive- the lotsl maximum
term that can b6 served18 twenty-four rnonlhs. Each Officer Trustee must be
8 Student or an Offic8r Tnjslee al the lime of the election. An Officer Trustee
becomes a member of the Union on commencement of their appointmant or
roappoinlment and this membership ceases when they cease to be an officer
trustee.
Student trustees
Up to four sludenl trustees are appointed by a panol drawn from tho Trustee
Board and then ¥alifled by Sludenl Coun¢ll. Each Student Trustee musl be a
student al tha tlme of their appoinlmenl. The role may be shorter or longer on
8 tr8nstbonal basis lo coincide with the alteration of the year start or end. A
sludenl Iruslee may serve a maximum of Iwo years that may be conseoulive
or non-conseculive.
Lay Tmstee8
The trustees are r8qulred to appolnl by 8 slmple malorlty vole such pernons 88
they considèr suitablè to be Lay Trustees. The ratio of 8l&cl6d sludant Irust88S
to Lay T￿sle0S, with the excgplion of any period which may not exceed four
months, must be greater than or equal lo Iwo lo one. Unless their appointment
is tem)inaled in accordanco wth the Artides of Associ8tion, Exlemal tru$te8S
remaln in office for a term of up to four years. They are eligible for re-
appolntmonl by a sin)p16 rnajorily vote ofthe Truslees for a furth8r lemi of four
years but are not eligible for re-appointrnenl thereafter if they have served a
total maximum term of elghl years.
Trustee Inductlon and Tralnlng
All new Irustees engage in a comprehensive training programme whith indudes..
The key roles and responsibilit18s of the Iru8ts8 position
Financial training
Introductions lo key staff and other trustees
Copies of the Union's key poliaes
On-going training needs for Trustees are continually monitored by Éhe Chief Executive Offi￿r and
President.
Poge 4 of 31

UNIVERStryOFSALFORD STUDENTS. UNION
Th& Students. Unlon
The Union is involved In a wlde range of activitjes. Ils core purpose is lo rewesenl students and provide
activities for thetn to enhance the student experience. To that end the Union org8nlse8 c8mpalgns on
issues of concem to the g8nerality of students, adminislers tho work of approximately 100 different
sports teams and SOCAelies. tralns and develops over 600 sludont course represen18tlves and operates
a Student Advice Centre.
The Union's commeKial activitigs includes Atmosphere which incorporates a cafe and li￿nCed
premises offering a social eating and drinking space. The Union also puts on social events for
members. The unlon also recolves flnancJal conmbuuons from ils relallonship wllh Chartwells, who
oparala tha retall spaG8 on campus.
The majorty of Union core activity is funded from the grant re￿IVed from the University.
The 8tsff teams
There is a ¢ore staff team of 35 staff and approximBtely 60 CASUBI student staff members. Union staff
members work across five functional areas of the Union:
Sludenl Voice
Student Opportunities and Wellbeing
ThAarketing and Events
Commarcial soNi
Finance
Related PartSe8
The University of Saword is the parent institution ol the USSU. The USSU received a revenue block
grant in the year from the University of Salford of £1,197.474.
Objectives & Activlties
Summary ot ¢harty oblectlves and actlvltSes undertaken In rèlation to th68è objects
The Union's Articles of Association identifies its charitable o14eds as..
°Th8 adkffjncem8nl of eduGalion of stud8nts at unive￿ilY of Salfotol for the public benefit by..
prornoting the interests and welfare of Students at the University of Salford during their
course of study and representing, supporbng and advising Sludents..
b&ing thè recognlsed r8pr8sentatSve channel b6twean Students and the University of Salford
and any other external bodles.. and
Fxovidlny soclal, cullL*ral, sporting and recreational actSvVESes and forums for discussions and
debale for the personal d8V81opm8nl of its Sludants,
P890 S of 31

UNIVERSITY OF SALFORD STUDENTS. UNION
Strategic Plan
The charitable organisalion has set the following as il's strategic plan..
Our Vision
We wll confn)nl and ov8rcome th8 barriers lo 18aming to 6nsur8 all Salford stud6nls are uiJ8loppable
Our Mlsso
We &mpowerstud8nts to make change and SUGceod
Our V81ues
Student-powèred: We are undenlabty focu8sed on the needs of our members
Change-makers: W8 are creallve, progressive and kind
stra1ght-fo￿ard.. We are open, candid and proact4.ve
Effective.. We are professional and collaborative
Inclusivo.. Equity is at the he8rt of everything we do.
rPr
lo
USSU promises thBI we will..
1. Offer something for every student
2. Make the changes students want to see wrthin three years
3. Nurture students. personal and professional development
4. Hglp students lo bo happy and healthy al University
5. Ba an outstsnding organisalion focussed on students
These are our strategic themes that h8ve been developed into operational plans for each of our
seNlca areas.
Enable
In order to be successful we will need to devolop the following enabling slialegies and frameworks..
Prioritisation Framework
Impact Framowork
PeLwle Strategy
Finan￿ Strategy
Markets'ng and Communications St¥8te9y
Pollclas ralatlng to grant maklng
To apply for funding, each Sport or SocJely group completes an onllne application which outlines their planned
actlvity and fundlng requirements. Each application should meet the strategic aims of the organisation and foous
on dellvèring involvement, diversity, innovation, personal development and broader success to the groLSP.
Application5 are received and reviewed by the Societies & Sports Slu(Jenl Ex￿ul1ve,. comprlslng ofthe Societles
& Sports Voluntary officer, up to four society representslives, up lo four club sport representatives, on8 woman's
sport representative and one Sabbatica5 Officer. Any student volunteer on the funding panel associated lo a
particular group who have applied for budget or project funding musl declare a ￿nflict of inlorest. Thls individual
can be Snvolved In the dlscusslon regarding the application bul ￿1} be excluded from decislon maklng element
of alkjcalion.
Poqe 6 of 31

UNIVERSITY OF SALFORO STUDENTS. UNION
Achievements and performance
Key Performance Indicators
Indicator
2021 outcome
Student Officer Election lumout
11%
No of sludenl representatives supported
650
No of Sports and Actiwly group membBrs
425
of students engaged in exlracurrioular
activities
11%
National Sludenl Surv8y- Stutlenl
Satisfaction wTrth their leaming
community
National Student Survey- Sludenl
Satisfaction with Student Voice
57%
60Q
Please nol8 that ouiturn performance across many indlcators In 2021 were impacted by the Covld-19
pandemic.
Relationshlp with stakeholders
students
The Sabbatical orricers continu8 to work closely with Course and Sch(x)l R8presentaliv&s to id8nllfy the k8y
issues facing studgnls al Course and schoollgvel. The officers are then able to represent these views al high
level College and Unlversily commiltees and in discussion with tho University Exe¢ulive Group.
The organisatlon mak&s fLtII use of soaal media lo $01Scil opinion on a range of matlors rolating lo the student
experience and enjoys a dialogue with Ihousand5 of Salford student8.
The organlsatlon regularty consults wllh students as part of tts reprasentstlve fvn¢tlon, as wo11 as on seNlce
staTrdards.
Tho Unlversfty
The Union has a strong pathershlp relalonshlp wbth the Unlversty- It acts as a 'cdllcal frlend,, providlng
avidenG8 on and challenglng the Univ8rslty on key sludenl issues. As part of their represgntslional work the
sabbatical officers sil on high level University Committees providlng a student voice on the issues discussed.
The Union meets with the Universlty quarteyly to dlseuss the prog￿$9 of the Union. The Partnershlp slee￿n9
Group, o)-chaired by the USSU President and the University Dean of Slud8nls. meets every eight weeks to (x)-
ordin8te partn¢rship working. The Sabbatical Offi￿rS meet the Dean of Students weekly, and the President
meets the Pro-Vic8 Ch8n¢ellor for Student Experfence monthly, tho Vi¢e-ChanGellor quarterly. as well as
presenting to the Vicg-Chanc811orfs Executive Team (VCETI semi-annualty. The President, alongside another
Sabbatical Officer. oro members of the University of Salford Council.
Othèr Unions
Both sabbatical officers and staff members meet wth counterparts In other Students, Unlons to share good
Practi￿ and discuss the Higher Education landscape.
There is a North West ¥eglonal meetlng for stsff and offlcers whlch the Presldent. Chlef Executlve. and senlor
staff are en￿uraged to attend. Staff m8mbgrs are also part of aleclronic dls(xJssion 9roups.
Pa#e 7 of 31

UNIVERSITY OF SALFORD STUDENTS, UNION
NUS
The Unlon Is a memberofthe Natlonal Unlon of Students {NUSI and as part of ils annual elections the Sluden*s'
Union provides students thè opportunlly to stsnd for 8 posltlon a8 a dalegale on the annual NUS conference.
Local Council
The Slud8nls' Unlon staff and sabbatlcal officars have regulady partiapat8d in local community meetings which
have included attendance by the local council, police and local residents.
The sabbatical officers discuss key student issues wth the local MP. Graaler Manchester Comblned Authorlty
Mayor and other political representslives of the city.
Financial R8vl8w
The Union made a surplus or net movement in funds of £1,314,449 in the financial pariod {pred8cessor charity,
2020.. surplus Df £83,400). The wincipal income $our￿S for the Union are the block grant provided by the
University of Salford and funds generated through commercial activtty- The Union also received a orie-off
transfer of funds from tho predecessor charlty of £879,959.
The result for the period includ&s items which musl be shown through the slalemenl of financial activities under
SORP accounting njles and which are not shown through the monthly management accounts. These items
Include penslon scheme valtJ8lion adluslmanls. cap￿ts1 grants received and restricted reserves movements.
Nel assets at 31 July 2021 stood 8t £1,314,449 (Predecessor chadty, 2020.. £879,959).
During Ihg year. the Union re￿Ived £119.869 of Income from the corona￿ruS Job Retention Scheme. The
Union is alert to the possible impact of further reslriclions on ils trading activities as a result of national efforts
to combat the coronavirus pandemic, bul believes that il is well pla￿d lo address these dLte to ongolng
government support schemes and support from the University of Salford.
Plans for future periods
Alms, key obJe¢tlve$ and planned actlvltles
The Union is continuing lo embed Ils slralegio plan (see above).
Investment pollcy and perfomiance
The Investment Pollcy of the Union is lo hold the majority of its res¢Nes in cash, Sp￿adIng deposits be
financial inslilulions in order to mitigate Gounterparty rlsk. Cash deposits are either instant access or fixed temi
with the balance belng determined by cash flow requiremonts. Wilhln the framework of managing risk, liquidFty
ancs ethical standards, the highest inleF8st rates are $81ecled to maximSse investment return.
Pay Pollcles for Senlor Staff
The remunerydlion of key m8nagement per8onn81 18 set by the Board, wllh the policy objective of ensuring that
they are provided with appropriate ineenlives lo encourage anhancad performance and ar8. In a falr and
responsiblo manner, rewarded for Ihoir individual contributions lo the Uniori's success. The appropriateness and
relevance of the remun$rats'on policy is reviewed regularly induding reference lo comparisons with other student
organisat￿on$ lo ensure that the Union remains sensitive to the broader Issues of pay and employment
conditions elsewherè.
Page 8 of 31

UNIVERSITY OF SALFORD STUDENTS, UNION
STATEMENT OF TRUSTEES. RESPONSIBILITIES
The charity Injstees Iwho are also the directors of the Union for Ihg purposes of company lawl are responsSbl8
for preparing a Iruslees. annual report and financial statements in accordan￿ with applicable law and Unlled
lfjngdom Accounllng Standards Iunlled Kingdom G8nerally A¢c¢pted Accounting Practice).
Company law in England and Wales requlres the Iruslees lo prepare financial statements for eath financial year
whlch glve a true and falr vlew of the stste of affairs of the charllable company and of the incomlng resources
and application of resources of the cJ)arSly for the year. In preparing these financial statements, the trustees are
rfjquired lo=
select suitable accounting policies and then apply them conslstant¢y'.
observe the methods and principles in the Charities SORP 2019 (FRS 1021.,
make ludgem8nls and 88timales that are reasonable and prudant..
stale whether appllcable UK AccountSng Standards have been followed, subject lo any material
departures disclosed and explained in the aceounls.,
prepare the financial statements on the going concem basls unless11 Is 1nappropr5ale to presume that
the charltable company will continue Its aclivllies.
The twslees are rèsponslble for keepSng proper accounting r8¢ords that are sufficient to show and explain the
charitable company's transactions and disdose with reasonable accuracy al any time the financial posiiion of
the charltsble company and 8nable them to ensure that the financial statements comply ￿th the Companles
Act 2006. The tnjslees are also responslble for safeguarding the assets of tho charitable company and her)
for taking reasonable sleps for the prevanlion and detection of fraud and other irregularities.
The Iru8tees are responsible for the maintenance and Integrity of the charty and finandal infomialion InclLtfJed
on the charitable company's website. Legislation in th8 Unltad Kingdom gov8rning the preparatKJn and
dIssemina￿On of finanaal slalements may differ from18gislalion in other jurisdictior￿.
Trustees, statement of dlscl¢surn of infom?otion to tho auditors
In so far 8S the trustees are aware at the data of approval of Ihl8 report..
There is no rel8vant audit information, ofwhich Ihg Gharitable companls auditor is unaware. and
Th& trusle8s have taken 811 steps that Ihoy ought lo have taken to make themselves aware of any
relevant atJdil information and lo establish that the auditor is aware ol that information.
Approved by tho Trustegs of the University of Salford Students, Union and signed on ts bohalf by..
Festus Robe
Ch85r of the eoard of Trustees
Dale.. 2411112021
Page 9 of 31

UNIVERSITY OF SALFORD STUDENTS, UNION
INDEPENDENT AUDITORS, REPORT TO THE MEMBERS OF
Univèrslty of Salford Students, Unlon
(A company Ilmltod by guaranteè)
Opinion
We have audSted tt*finanu81 statements of Unwgty ofsaiford Students, Union {the'charitable cAJmpBnll forthe 16
fYK)nth pEriod ended 31 July 2021 which comprise the Statement of Finanual Activities, Balance Sheet, Cash Fbw
statement and notes to the financial staternents. indudirvJ significAnl aca)unting pOl￿e$, The financbal repoiting
frameworf( that h&$ begn appli￿ in their preparation ss applicable law and Unf(ed Kingdom Acts)unting Standards.
Induding Financial Reportiro Stsndard 102 Th8 Financial Repo￿ng Slandard applicab￿ in th8 UK end Republic of
Irelsnd (United Kjngdom G￿eralty Ac(gpted A￿Unting PRcth(Yl.
In ouroFMnlon the financd stat8m8nts:
we 8 true and fairview oftha stsle of the charitabl6 compaws affai￿ as al 31 ￿lY 2021, and of its incDming
re80urc8s and application of resources, induding fts incom8 and expenditure, for the 16 month period Ihen
ended..
have been properfy prepar￿1 In a¢xordance whh Unlled Klngdom Generally A￿pted Accx)un*ng Practi￿.,
and
have been prepaied in with the r4uirements of the Ccmpanies ACL20L￿.
Basls for oplnlon
We corKJucted our audit n aixyJrdanee wth Intemalknal Slandatrls C￿ AudltiThJ IUK) IISAS IUKII and ap￿1(Able law.
Our responsibilities under t￿e standards are futher desoibed in the Audilorfs reSwnsl￿1IbeS for tt)e audit of the
finanaal statements sgction ofourrfjporL Wg are indeFendentoflhe thaniable (xmpany in aceA)rdancewith the ethul
requlr8ments that are relevant to our audit ofthe financid ststemerts in the UK, indudiru the FRC'S Ethi￿1 Standard,
and we have fLI￿lled ourother elhlcal responS￿￿1rtIes in ac£ordan¢e wrth these requirements. We believe Ihalthe audf(
eviden<￿ we have obtalned Is suffident and approprfate lo pr￿de a basls forour opSnth.
Conclusions relating to going concem
In auditiro the financial st*ements. we have rA￿ClUde￿I Ihatthe Inhstees, L￿8 of th8 goltYJ concfjm ba818 ofaccounlng
I the preparntion oflhe finanaal statements is apF￿priate.
Based on the workw& have perfonred, we have not idonbfied any material unrknrtainties relating lo events or wrKliI￿S
that, Indmdually or collecl'vely. may cast sgnfficanl doubt on the charitsble companls ablty to continue as a
Jncem for a p￿ric￿ of al least￿e1Ve monlhs from ￿en the ffinandal statements are aUtt￿rised for issue.
(ljr r&sponslblllles and the TrSFKThibiliti8s of the trust8es respecl to ￿Ing concem are das(￿.￿ In the ￿8vant
sections of this rep¢)rt.
Other Infom)atlon
The other inforTnation comprtses Ihe infomiation indudod in the tnjstee's annual report, other than the financial
strdlem8nts and (xjr auditorfs reportlhereon. The tnjslees are resw)sible forthe olherinforrnation ry)ntained within Ihe
annual rewrt. Our opinion on the financlal statements does not cover the other information and, except to the extent
othetwse explicSUystaled in ourreFth. we clo notexpress anyform of assL*rancÉ concluskx) thereon. Our responsllylty
is lo read the cther infomialion and, in doing so. consider whether the other infomiation is materially Inconsistent wlh
tho fmandal statements, (r our knO￿e￿e obtsinod in Ihe course of the audit ￿ othernvise appears to be mth1￿Y
misstated. Ifwe idenbfy suth fr*terid incxJ)sisten(aesorapparenl matsrial misstst￿￿nls, we a￿ required to determine
whetherlFw's QNes ris&to a mal&id misstatement in the financial statements themselves. If, based on thaworkwe have
pthm7￿, w8 (¥JndLtde that ther8 is a materi81 mi￿atem9nt of thi8 olher infosTnalion, wa *6 requlrbd lo report tt)at
We havo nothing to rgFQrt in this ￿8rd.
OplnSons on other matters prescrlbed by the Ci>mpanSè5 Act 2006
In ￿Inion, based on lh& work undertaken In Ihe course of ihe audll..
the Infom￿1￿ gwen in the trustees. report forth8 financ481 yearforthlch the finawal stateM￿ts are
prepar8d is conslstenl with ihe finanaal statements., and
the twstees report has been wapared in ac(ord8nc4 with 8pplicabb leg8t wuirements.
Mattors on whlch we are requlrad to rnport by ex¢•p￿On
In the light ofthe kn￿￿edge and understandino ofthe d)aritabte (x)mpany and its envircnment obtained in Ihe c(yJrse
ofthe audf(, we have id8nlnled material misstsleAn8nts Sn lh8 tnJ81e8s' r8pc¥I.
Pogel00131

UNIVERSITY OF SALFORD STUDENTS. UNION
We have notNng to report respfjcl of the followng matters in relatioTr to vhich the Companies ALt 20(￿ requires us
to to you W, In ouropinion..
adequate accounting recDrds have not bw ke0, retums adequate for fAJr audit have nol lJe8n re(*￿d
from brand)8s not ￿sited by us..
the finanaal statements 8re not in agreementwith the accountiro reCO￿S and re¢ums,' or
certain disdosures of directors, remuneration specified by taw 8re not made., or
we have not rècdved all the Infumallon and explanations we require for(xJr a￿1￿. or
the tnjstees were not ent￿ed to prepare the finanual stslemonts in accordan(t wlh the small companies,
regime and take advantagg of the small rA)mpanies' exemplK)ns In preparfro the requirement to syepare a
strategic reporL
Responslbllltles oltrustees
As explained more fully in the trustees. wnsibilib'8S Statement set wl orb page 9, the trustees 8re also the
directors of the tharitable ￿Mpanyf0rIhe purposes Of￿[r￿anY18Wl are reS￿n￿tlef0rthe preparation ofthe financi31
statements and for satisfied thal they giv8 a tru8 and fair wew. and for suth intemal cvnlrol as the trusteos
delemine ￿ necessary to enable the preparat#￿ ￿ finan(ial stat￿￿e￿ that are fre8 from malerfal mksstatemenl,
vthelher due lo fraud or error.
In pTrpartng th8 fin8ncl8l8t8tem￿s, th8 Irustses are ¢Bswnsible for assessing the charItatr￿ (x)mpanls abllty to
c￿tinLte as a going (x)n￿m, di%dosing, as applicable. matters relatod to ging ¢oncem and u&ng the gixng concem
basis of aeLounlirvJ unless tre tnjslees eitlier intend lo liquidats the charttable company ￿10 Cease OperalK￿$, or have
no realisbc attemab've but to do so.
Audltoes responsibillties forthe au(fit of the finandal stat&ments
Our obiectives are to oljtsin reasonable assurance at￿￿* whether the financial statements as a whole are freè from
material misstatem8nL whethèr due to fraud or error, and lo Issue an auditorfs repckl that indudes our opinion.
Reasonable a&surance Is a high level ofaSsUran￿. but Is not a guarantee that an audll conducted in 8￿rdance wllh
ISAS IUKI wll always detect a material misstatement when il exists. IAisstatements can arise from fraud or errw and
are con51dered material if, indMdualIy￿ in the aggregate, Iheycould reasonably be expected to Infiuence the e￿n￿¢
decisKns of users taken on the basis oflhese financkql statements.
Irregularities, i￿lUding fraud, are Instan￿ of non-compliant* with laws and ￿gL￿￿onS. We doslqn procedures in lin
wth (K+r respC￿S1bIlltr'es, cKJNined BbDve, to delect material misstatements in ￿pect of Irregu18r(Ues, induding fraud.
Th& specffic procedutes for this engagemont and the extent tr) which thgse are capable of detecting irr8gulanties,
Induding fraud is detailed below.
Our approach to Identifying an(5 assesslng the risks of material misslalemenl in respact of Irregularitl8S,
including fraud and non-compllanc8 ¥Mth laws and rogulations, was as follows..
the senior statutory atjditrjr ensured that the engagement team ¢0118ciively h8d the apprcsprtala
competence, c8pabllltles and skllls lo Ident4fy or recognlse n0￿ComplIance with applicable IRWS ancl
regulalions.,
we IdentSfied the laws and regulatsons applloable lo the charitablè company through dlscusslons wllh
dlrectors and other management, and from our commercAal knowledge and experience of the sector..
we focused on speciffc laws and regulations which we conskler8d may have a direcl material effect on
the financial slalements or the operations of the charitable company, including th8 financial roporting
legislat￿n, Companies Act 2006, taxation legislation. anti-bribery, employment. and environmentsl and
health and safety legislation.,
w& assessed the extent of compliance with the laws and regulations identified abov8 through maklng
enquiries of management and Inspecting legal correspondence., and
identified laws and regulations were communicated wllhln the audit team ragL¢larly and the team
remained alart to instsnces of nOn-￿Mpli8n¢e throughout the audit.
We assessed the suscepllbllity of the charitable companls financial statements to material mlsststement.
Includlng oblalnlng an understanding of how fraud might occur. by..
maklng enquiries of management as to wher8 they consldered ther8 was susceplibilily to fraud, their
knowledge of aGtual, SL*specled and alleged fraud., arKS
conslderSng th8 Intemal controls in placa to miligato risks of fraud and nonpcompliance wllh laws and
regulations.
Page11 ola1

UNIVERSITY OF SALFORD STUDENTS. UNION
To address th8 rlsk of fraud through management blas and overrlde of controls. we..
performed analytical procodures lo Identify any unusual or unexpected relationships.,
tes19d journal entries to identify unusual Iransaclions.,
assessed whetherjudgements and assumptions madg in determining the accounting estimates set out
in Note 1 Ip) ware indicative of potential bias., and
invesugated the rationale b&hind significant or unusual Iransa¢tions.
In response to the risk of irregulariti88 8nd non-compliance wlth18ws and regul8￿On$. wa deslgned procedures
which included, but were not limited to-
agreelng financlal ststement disclosures to undarlying supportlng documonlalion,.
raading the minutes of mèetings of those charged with govemance.
enquiring of management as to actual and potential liligalion and daims,. and
revI6￿ng correspondencgwlth HMRC, relevant rogulalors and the charitable cornpany's legal advisors.
Because of the inhergnl limitations of an audit, there is a risk that we unll not det8Ct all irregularities, indLxling thcEe
leadlng to a material misstslement in the financaal statements or non-complian￿ wulation. This risk increases
the more that ￿mplianCe wth a lawor regulats'on is remov8d from the events and transactions reffiected in the finanaal
statements, as we will be less likelylo bewme aware of Instsnces of non-compliance. Th6 risk is also grealerregarding
irregularities octurring due to fraud rather than error, as fraud invdves intentional CxJn￿aIMenl, forgery, (￿lIus1on,
omissic4) or mlsrepr8senlation.
A further description of our r6sponslbS1itles is avaSlableon the Flnancial Rewiting GxJn¢il's website aL'
s.'IhwMv.frc.o
.ukJOur-worklAudiUAud￿a￿&awjran￿Stand8rd￿arKl uthncEIStsndards-and uidanc&for-
itorslAuditors-res
tiOr￿OI
sibil
part of ourauditorfs reixlt
Use of ourreport
This reportls made Sole￿ to the chariiable o)mp8nls members, as a bcKly, in awrdancg ￿ Chapter 3 of Part 16 of
the Companies Act 2006. Our audf( work has been undertaken so that we might 8tat8 10 tt)e charit8ble companvs
rnembers those matters we required lo state lo them in an 8udilorfs report and for no olher purpose. To the fullest
exienl pemiitted by law, we do not a￿pt c￿ assurne responsibility lo anyone other than the charitable (xJrnpany and
tho charitabk ¢cmpan¥s members as a body, for our audTtwork, for this report, iYfoT the (pinions we have formed.
Cf-a
x. This description fc
Jonathan Dudley
(Senior statutory auditor)
For and behalf of
Dains LLP
ststutory Auditor
Chartered Accountsnls
Suite 2. Ajbion House
2 Etruria Office Village
Forge Lano
Stoke on Trent
Staffordshire
ST1 5RQ
Page 12 OF 31

UNIVERSITY OF SALFORD STUDENTS. UNION
STATEMENT OF FINANCIAL ACTIVITIES
16 MONTHS ENDED 31 JULY 2021
Unrestricted Funds
General
Deslgnated Restrlcted
Funds
Funds
Fund$
2021
Note
Total
Income from:
Donations and Legau88
Charitable Activities
Other Trading Acdvtlles
Investments
Other Income
2,077.433
241.278
94.662
4.795
35.880
60.000
300.000
42,337
2,437,433
283,615
94,662
4,795
155,749
119,869
Total Income
2,454,048
60,01)0
462.208
2,978,254
Expèndlturn on..
Ralslng Funds
Charitsble A¢tiwties
80,779
1.352,466
4,742
96,187
B5,521
1.467,4B4
18,831
Total expènditura
1,433,245
100,929
18.831
1.553.005
Ngt Incomèl{èxpèndlturn)
1.020,803
140,929>
443,375
1,423,249
Transf8TS belween funds
21 {378,4681
417,943
139,4751
Actuarial loss on defined
benefit pension scheme
Net Movement In Funds
26 {108.794)
1108,7941
533,535
377,014
403,900
1,314A49
Reconclllatlon ot fund8:
Total funds brought
fonmard
21
Total funds caiTied
fopward
21
533,535
377.014
403,900
1,314,449
All amounts relate to contlnulng op8rallons. All gains and losses rewgnised in the year are included above.
The notes on pages 16 to 31 fomi part of the financial stst8ments.
PagB 13 of 31

UNIVERSITYOF SALFORD STUDENTS, UNION
BALANCE SHEET
AS AT 31 JULY 2021
Notes
A5at
31￿u1-21
FIXED ASSETS
T8nglbl8 888ets
13
3TI,014
377,014
CURRENT ASSETS
Stock
Oebtors
Inv8stmonts
Cash at bank and in hand
14
15
16
10,563
93,448
183,857
763,787
1,051,656
CREDITORS
Amounts falllng due wlthln one year
17
11
221
NET CURRENT ASSETS
937,435
NET ASSETS EXCLUDING
PENSION SCHEME LIABILITY
1,314,449
D8flnod bonafft pgn81on
scheme liability
26
NET ASSETS
1,314,449
THE FUNDS OF THE CHARITY:
Restricted Income Funds
21
403,900
Unrestricted Income Funds
21
General Fund
Deslgnated Funds
Flxed Asset Fund
533,535
21
377.014
1.314.449
Th8 notes on pages 16 to 31 form part of the financial statements. Approved by the tnE5ta85 of th8 Unlversty
ol Salford Stijdents, Union on the 24th of November 2021.
Feslus Robert
Desrae Ogden
Trusl8e
Pag• of 31

UNIVERSITY OF SALFORD STUDENTS, UNION
STATEMENT OF CASH FLOWS FOR THE
16 MONTHS ENDED 31 JULY2021
2021
Total
Not8
Not cash provldad byl{usad Inl operatlng a¢tMtle$
Cash flows from investing activitles..
Purchase of fixed assets
23
544,213
30,059
Not cash provSdad by {u$od In} Invèstlng actlvities
{30,059)
Change In Cash and cash equlvalents In the porfod
514,154
DonatSon
12
433,490
Cash alld cash aquivalents al the beginning of the peric
Cash and cash equlvalènts 8t the end of tho perlod
947.644
The notes on pages 16 10 31 form part of these fin8ncial slaloments
Page 15 Of 31

UNIVERSITY OF SALFORD STUDENTS, UNION
NOTES TO THE FINANCIAL STATEMENTS
16 MONTHS ENDED 31 JULY 2021
l Accounting Policies
The Universlty of Salford Students, Union. which is a charftsble company Ilmlted by guarants8 and Ilmltsd lo £1 per
member has adopted the following a¢￿￿￿ting policies:
al Basls of accountlng
Th8 financlal slat8m8nls have been prepared in accordance wSth the A¢￿￿nting and Reporting by CharitEs Statement
of Recommended Practic6 applicable to charili8s preparlng their a￿Unts in a(uJrdance with the Financial RepothrvJ
Standard applicable in the UK and Republlcoflreland IFRS 1021 effective 1 January 2019, the Fin8nii81 Repo￿n9 Standard
applicable in the United lfj'ngdom and Republi¢ of I￿and IFRS 1021, the Charities Act 2011 and Generdlly A￿p￿ed
A£tounting Practice.
The Univ6r8ity of Salford Students. Union meets the definition of a public benefit charity under FRS 102. The fin8ncl81
slat8m8nls are prepared under the historical Cost convontion or transaction value unless otherwise staled in the
relevant accounting policy [￿te(SI. The flnanclal 5tstements are prepared in Sterling which is the functhonal CAJrrency
of the ch8rltsble company and rounded to the nearest £.
bl Incoming resources
Incomlng resources are Included In the Statement of Flnan¢lal Actlvltles ISOFAI when the tharit8bI8 comp8ny ha8
entlllernenl to th8 funds, any p8rf(*mance conditions have bgen met, tha amount can be measured reliably and il is
probsble that the Income be received.
Income from charitable activities includes income received under contract or where enlillement to grant funding Is
$4Jblect to speclfic performance corKllllons and Is recognised as earned. Grant Income Included In this category
pn)vides funding lo support performance acts'vities and is recognisgd where there is entitlamenl. certainty of receipt
and tha amount can be measured with reasonable certainly. Income received lo deliver serVi￿S over a spectfic period
covedng more than one financial year is accounted for over the specific period,. related expenditure is accounted for
when incuTrod.
Investment Income relates to Interest earned through holding assots on deposit.
c) Donated servlces and facllftles
Donated seNic8s and facllllles are recognlsed as incomfj when the charitsble company has control over the ileFll. any
conditions assocAaled with the donated items have been mel. and the receipt of economic benefit can be measured
reliably. In accordance with the Charities SORP {FRS 1021 the general volunteèr time is not rèeognlsed.
Donated services and donated faellltles are Iecognlsed on the basls of the value of the glft to the cha￿￿ble Cornpany
which is the amount the charitable o)mpany would havg been willin9 to pay to obtain services or facilities of equivalent
benefit on the open market, a corresponding an￿Unt is recognised in the expenditure for the period.
dl Support costs allocatlon
Support c(Ists are those that asslsl the work of the charitable company bul do not dlrecily represent charitable adlvilles
and Include offlce & admln costs. facilty costs and supporting matheting costs which are allocated lo activity based on
the proportion of Ihal activity's direct costs lo total costs.
Paga 16 of 31

UNIVERSITY OF SALFORD STUDENTS. UNION
NOTES TO THE FINANCIAL STATEMENTS
16 MONTHS ENDED 31 JULY 2021
el Govornance Costs allo¢atlon
G0Veman￿ costs are those costs related to the oovern8nc8 of the enllly, to allow It to OP8rale. and lo generate
Informallon for public accountabilily. Direct costs will include audit and accountanoy, legal advice to trustees and costs
of trustees meetings.
fj Funds
The entty has the follo￿ng funds whlch aye Shown 8epar8tely In the 8CCOtJnts'.
11 Restrlcted funds are funds that are used in a¢cordan¢g wlh specific reslri¢lions imposed by donors or that
have been raised by the entity for particular purposes. The ¢osls of r8ising and administering such funds are
charged against the specific fund. D8taiSs of the restricted f+Jnds held are giv8n in note 21 lo tho financial
ststemenls.
11) Unrestrlcted funds are funds whlch are avallable for use al the dlscrellon of Ihg Twstees in futher8n￿ of
the objects of the entity and which have not been designated for other purposes.
iii) Designated funds are unrestricted funds Ih8t are allocated for specific purposes as set out in note 2110 the
financial slatsments
gl Fixed assets and depreciation
Fixed assets a￿ slated al cost less accumulated depreciation.
Depreclauon Is c81cul8ted so as to wrfts off the cost of an asset, less its estimated resldual value over the useful
8conomic life ol that ass8t 8s follows-
Flxtures. FItNngs & Equlpment.. 10% 10 33Vo Straight line per annum
Bulldlng Improvements-. 4¥0 10 10% slraighl Ilne per annum
Motor Vehicles.. 33Vo Straight line per annum
h) Stocks
Stocks are valued atthe lowerof cost and net wlSsablevalue. aftermaklng due allowan¢eforobsolele8nd slowmo￿ng
Items.
l) Debtors
Trade and other doblors are recognised al the settlement amount due after any trdde discoullls offered. Prepayrnents
are valued at the amount prepaid net of any trade dlscoun18 due.
l) Current ass•1 Invostmonts
Current asset investments are short terfft highly Ilquid investments and are held al f81r v81ue. These Snclude cash on
dewslt and cash equsvalents wilh a maturity ofloss than one year.
k) Cash at bank and In hand
Cash al bank and hand includes cash and short term hlghly liquid investments wlh a short maturity of three months
or less from the date of a¢4uisIUon tsr openlng of the deposit or simllar account.
Pago 17 of 31

UNIVERSITY OF SALFORD STUDENTS, UNION
NOTES TO THE FINANCIAL STATEMENTS
16 MONTHS ENDED 31 JULY2021
11 Crgdltors and provl$lon$
Creditors and provisions are recognised where the charltsble company has a prosent oljligalion resulting from a past
event that will probably result in the transfer of fijnds lo a third party and the amount due lo settl8 the obligation can
be measured or eslimaled reliably. Creditors and provisions are normally reugnised al their sethemenl after allowing
for any trade dlscounts duo.
m} Financial instrumants
The charitable company only has financial assets and finanaal liabillties of a klnd that qU811fy as basic finanoial
instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at
thelr settlement valije vAth the exception of bank loans whlch are subsequently rneasu￿d al amortised Gosl u$lng the
effective interest method.
n) Pension costs
The Union operates defined bgnofit pension schomes for all quallfwng employees.
rhg Graalgr ManGheslgr Pension fund operates on a poolfjd arrangement wlh Gontiibutions agreed centrally. As a
consequence, no share of th& underlying assets and liabilili$s Can be directly atlribuled lo Ihe Union. Under the terms
(rf FRS102. In these cArcumslances. c￿ntrIbUtIOnS can be accounted as If the scheme was a deflned COn￿but10n
schem8 based on actual conlribullons paid throughoulthe year.
The Union of Salford Students Union Pension and Lrfe Assurdnce Scheme contributions 8r8 8C(x)un18d for on 8 full
actuarial valuation basis as at the year-end.
Following the intmduction of auto enrolment a Natronal Employment Savings Trust INESTI has now been set tjp in
order to provlde pension arrangements for any staff that now become ellglble lobholder8.
o) Taxation
The charltable company is an oxempl charity wlthln tho meanlng of schedule 3 of tho Charities Act 2011 and Is
considered lo pass the tests set out in Paragraph 1 Sth8dul8 6 Finance Act 2010 and therefore il meets the definition
of a charitable entity for UK corporation tax purposes.
pl Slgnlfl¢ant ludgements and e$tlmate$
Preparation oflhe financial statements requires managomenl to make significantjudgements and estimates. The itgms
in the financial stalemenis where these judgomenls and eslimales have been mad¢ in¢lude assumptions around the
financial assets and118billties of ￿nSIOn scheme (￿MMItmentS, and the discount rate appli&d Iherelo, and the voluation
ol stock.
Pag¢ 18 of 31

UNIVERSITY OF SALFORD STUDENTS, UNION
NOTES TO THE FINANCIAL STATEMENTS
16 MONTHS ENDED 31 JULY2021
General Designated
Funds
Funds
Restricted
Fund$
2021
2 Donatlon8 and18gacla8
Unlverslty Block Grant
Univer811y Capitsl Grant
Penslon Deflcll Contrfbullon
Donation ieceiv￿ (see note 121
1,197,474
1,197,474
60,000
300,000
879,959
60,000
300,000
879,959
2,077,433
60,000
300,000
2,437,433
3 Income from charitable actlvlties
Bar
Catering
Totum Commlssion
student Services e.g. Sodety
Memberships
Not Clubs & Socletles Incom6
SantanLler re Rafiki
International Student Engagement
192,520
39,691
1,428
192,520
39,691
1.428
7,639
7.639
8,213
1,500
32,624
8,213
1,500
32,624
241,278
42,337
283,615
4 Incom8 from other trading activities
Franchi88 Income
Media Sales
89.800
4.862
89,800
4,862
94.662
94.662
5 Invostments
Interest received from 8gnk & Bullding
SocAety Accounts
4,795
4,795
4,795
4,795
6 Other Income
Bl Insurance Claim
Robert Stanley Armilage Trust Fund
Coronavirus Job Re18nlion Scheme
10.880
25,000
10.880
25.000
119.669
119,869
35,880
119,869
155,749
Page 10 of 31

UNIVERSITYOF SALFORD STUDENTS. UNION
NOTES TO THE FINANCIAL STATEMENTS
16 MONTHS ENDED 31 JULY 2021
7 Analysls of Expendlture
2021
Cost of
Sales
Staff
Cos18
other
Gov'ce
Costs
Support
Costs
Total
Costs
Raising Funds
Ch8rilabl& Activities..
Bar
Calerfng
Sludenl Services ind. socAelles
Raliki
Intemalional Sludenl Eng8gem8nt
2.887
28,859
85,521
54,214
20,081
193,966
68,194
408,724
30,510
16,884
118,318
1,500
17,331
184,543
14.964
5,646
28,299
149.566
56.436
282,850
443,221
167.242
838,191
1,600
17,331
1,467.484
74,295
670,884
48,910
488,853
718400
190 801
517713
1553 005
Of the lolal expenditure £1,534,174 was unreglricted and £18,831 was restrictefj.
The support costs and governancA eA)sts ara allocated lo actlvlty based on the proportion of that activily's dir8Gt ￿sts lo
total costs.
Governan￿ and 8UPPOrt costs c8n be anatysed as follows..
2021
Staff costs
Defined Benefit Scheme Costs
Slaff Recruitment, training & social costs
FacS1ily Costs
Office & finance costs
Trdvel, subsistence & conference costs
Log81, professional & consultanGy
Marketingmebsite costs
lffecoverable VAT
Depreclatlon
Sundry costs
303.034
9,704
33,945
24,837
2.229
92,125
1,338
19,681
79,609
3,008
569 510
8 Not Incomollexpendlturo) for tha ygar
Thls Is staled after charging..
2021
Depreciation
Coronavirus Job Retention Scheme receip15
Bad debts incurredl(recoveredl
Auditors remuneralion
100,929
{119,8691
827
Pau• 20 0131

UNIVERsif( OF SALFORD STUDENTS. UNION
NOTES TO THE FINANCIAL STATEMENTS
16 MONTHS ENDED 31 JULY2021
9 Analysls of staff Costs and the cost of key management personnel
2021
Stsff costs wer8 as follow8..
Salaries and wages
Social Security costs
Termination Payments
Employerfs contribution lo a defined contribution pension
Operating costs of defined benefit pension schemes
Other employ8È benéfits
923,135
72,390
839
14.697
9.149
1,225
1021435
The following number of employees re￿1Ve￿ employee benefits (excluding employer pension costs) during the year
year betrNeen.'
2021
No
£60.000 - £69,999
The total employee benefits induding pension contributions of the key management peTsonnel were £258.304. Key
managemonl personnel Include the employees and trustees noted on pages 1 and 2 of the accounts.
10 Trustees, remuneration and expenses
2021
Trustees, remuneralon and employer's Nl
Trustees, expenses
103,166
4,139
107,305
Each of the sabbatical officers received a salary of £1 Y,133 per anTrum as aulhorised In the Arllcles of Assoc1811on of
tho Universilyof Salford Students, Union forthe representation. campaigning and support work they undertake as dislin¢t
from their Iruslee responsibilities. The work includes voicing sludenl opinlon wlh the Unlvers1ty and local communlly,
defending ond extending the rights of students through petitions, and diSCu￿10n$ with local MP'S.
The trustees expenses were Incurred by 5 trustees in resp￿1 of travel and subsistence costs in the course of their
dutie8.
Pago 21 of 31

UNIVERsrrY OF SALFORD STUDENTS. UNION
NOTES TO THE FINANCIAL STATEMENTS
16 MONTHS ENDED 31 JULY2021
11 staff Numbgrs
Th8 average number of employees (hoad count based on nurnber of staff employed) d￿rIng the year was made up a8
follows:
2021
Raising Funds
Bar
Catering
Sludenl Services
Govemanc8
Support Servlces
28.6
19.5
10.2
12 Donatlon
On 31 July 2020 a donation was received from the University of Salford Students. Union ('Prede¢essor Charity). an
unincorporated charity with similar objects to the Charitsble Company.
The donallon comprlsed the followSng nel assets..
Tangible Fixed Assets
stock
Debtors
Current assol investments
Cash at bank 8nd in hand
Creditors due within 1 year
447,884
15,128
122,264
369,486
64,004
1138.8071
879,959
The ChAritsble Company stsrted to trade on 111 ALtgust 2020. No fair value adjustments were required lo the
book valu8s of the above a55ets transfeTY8d.
Pjqo 22 of 31

UNIVERSITY OF SALFORD STUDENTS, UNION
NOTES TOTHE FINANCIAL STATEMENTS
16 MONTHS ENDED 31 JULY 2021
13 Tangible Fix8d Assets
Fixtures,
Fittings
& Equipment
Building
Improvements
Motor
Vehlclos
Total
Cost
At 24 March 2020
Trdnsf8rr6d from Predacessor Ch8rf1y
Ad(iilions
Dlsposals
At 31 Juty 2021
1,037,906
267,885
30,059
17,607
1.323.398
30.059
1.037.906
297,944
17,607
1,353,457
Depreclatlon
At 23 March 2020
Transfeffed from Predecessor Charity
Charge for the year
Disposals
642.683
77.397
226.963
17.663
5.868
5,869
875,514
100,929
At31 July2021
720,080
244.626
11,737
. 976.443
Net Book Value
Al 31 July2021
317,816
S3,318
5,870
371.014
Assets are only capitalised rf they have a value above £500.
14 Stock
2021
Bars
Catering
Coffee Cups
5,613
1,947
3.003
10.563
15 Debtors
2020
Trade debtors
Other debtors
Prepayments & accrued Income
6,553
6,639
80,256
93.448
Poge 23 of 31

UNIVERSITY OF SALFORD STUDENTS, UNION
NOTES TO THE FINANCIAL STATEMENTS
16 MONTHS ENDED 31 JULY2021
2021
18 Currant Invostments
Carylng value at beglnnlng of the period
Transforred from PredeGessor Charity
Additions io inveslm8nls at cost
Disp0s818 at carrysng value
369,486
1,003,324
{1,188,953)
Carrylng value al end of the peri
17 Credltors: amounts fAlllng due wlthln one year
2021
Trade credito
Soci81 Securily and other taxes
other creditors
Accruals & deferred income
19,596
18.667
30,323
45,635
114,221
18 Doferrod Incomfj
DefeTred income comprises wel￿Me W9ek and PA insurance contributions
recaived in 8dvance
2021
Carrylng value at beglnnlng of the perlod
Transferred from Old Company
Amounts released during the perfod
1,357
11,357)
Carrylng value at end of the perSod
19 Capital Cornmltments
Al 31 July 2021 the Charitable Company was committed to completing an oulslde decking 8rea to Atmosphe￿ costing
£eO,000. A down payment had been made before the year end of £33,755.
The project has been funded by a capital grant recelv8d before the year end of £60,000 from the Unwerslty of Salford
ich has b8en included in designated funds.
Pao8 24 of 31

UNIVERSITY OF SALFORD STUDENTS, UNION
NOTES TO THE FINANCIAL STATEMENTS
16 MONTHS ENDED 31 JULY2021
20 Flnancbal Instruments
2021
Financial 2ssels measured at amortised cost
Finan¢ial assÈts measured at fair value
Financi81 liabilities measured al amortlsgd cost
Financial liabilities measured al fair value through the
Slalement of Financial Activities
15,354
947,644
45,635
Flnanclal assals held al amortlsed cost compris8 trade debtors and other debtors excluding pr8P8ld costs.
Flnancial assets measured at falr value comprise short lerm investments and cash al bank and in hand.
Flnancial liabilities held at amortised cost comprise trade creditors, other credltors and accruals.
Flnanclal liabllS1ies measured al fair value through the Stslemenl of Finan￿al Activitie8 comprise the
pension defiat liabllity.
The charflable comp8nV8 incoma, exp8nse, gains and losses in respect of financial Instruments are:
2021
Total interest income for finandal a8sels held al amortised cost
Total interest expense for fln8fbclal Ilabllllles held at amortlsed cost
4,795
1.586
21 Statement of funds movem9nt
Penslon
Deficit
Loss
Transfer
Bètwaen
Funds
BalanGe
31Jul
2021
24-Mar
Movoment In Funds
2020
Income Expendlture
Unrestrlcted funds:
General Fund
2,454,048 11,433,245) (108,800) 1378,4681
533,535
Doslgnated funds:
Fixed Ass8ts Fund
60,OOQ
{100,929)
417,943
377,014
Restrictèd Funds:
Clubs & SoGlelles funds
CJRS Funds
Rafi
International Sluclent Engagernenl
Penslon deficit conlrlbulion
8,213
119,869
1,500
32,624
300,000
80,394
{119.8691
88,607
11,500)
117,3311
15,293
300,000
TOTAL FUNDS
2.976.254 11,553.0051 {108,8001
1,314,449
Pag0 25 of a1

UNIVERSITY OF SALFORD STUDENTS, UNION
NOTES TO THE FINANCIAL STATEMENTS
16 MONTHS ENDED 31 JULY2021
Deslgnated funds
The deslgnated funds are unrestricted fijnds that are created by the tsijstees for specific purposes.
The fixed asset fund is the nel book value of assets purchased with ijnrestricted funds.
Restrfcted funds
The restricted funds comprise..
Th8 ¢lubs & sociatigs funds represent th8 balance on the clubs & societi85 own income accounts.
Th8 CJRS funds represent govemment funds rece5ved for ludoughed staff during the Coronavirus pandemic.
The Rafiki fund represents funds ye￿)Ved from Sanlander Bank as a contribution towards tho training of
volunteers for Rafiki.
The Intemalh)nal Student Engagement Fund ropresgnts funding rgceived from the University and inciud8S the
support of inlemalional students who were required to quarantine when arriving in the UK.
The Penslon D8ficll Contdbutlon was fundlng rec8lv8d from th6 Univbrslly sp8cifically aimad al reduGing the
defflcS1.
Reserve transfèrs
Transfers are made from general resetves to other reserves in order lo ensure that adequate funds are availabl8 in
ord8r to fulfil the purpose of each fund.
22 Analysis of Nèt Assats batwaén funds
Ganoral 0g$lgnated Ra$trl¢ted
Fund$
Funds
Funds
Total
Tangible Fixed Assets
Cash & short tenn investrnents
other nel current asselsl{liabililiesl
377,014
377,014
947,644
{10.2091
543,744
110,209)
403,9(10
533,535
377,014
403,900
1,314,449
Pau8 26 of 31

UNIVERSITY OF SALFORD STUDENTS. UNION
NOTES TO THE FINANCIAL STATEMENTS
16 MONTHS ENDED 31 JULY 2021
23 Ra¢onclllatlon of net incomel(expgndlture) to net Cash flow from oporating octivitles
2021
Net movement in fijnds
Donation from predecessor charity
Add back depreciatK)n charge
Ilncreaseydecrease in stocks
Ilncreaseydecrease in d8btors
IDe(TeasellinGrease iri credrtors
1,314,449
1879,9591
100,929
4,565
28,816
{24,5861
24 Analysls of cash and cash equlvalerrts
2021
Cash In hand
Current accounts
Dep0811 accounts
850
763.137
183,857
947,644
25 R8latsd Party Transactlons
The fotlowiro have boen ident￿ed as related party transactions per the requirements of FRS 102.
The Unlversity of Salford.. In th8 year the Univ8rsily of Salford Students, Union received total grants of £1,197,474
from the University of Salford, there was £34,816 of pijrchase recharges and £30,339 of sal8s recharges. The nel
year end debtor ￿th the University, including fvnds on deposit was £100,168.
Trustees of the Universty of Safford Students, Union.. see rK)te 10- Trustees, remuneration and expenses.
Natsonal Union of Students Services Ltd INUSSLI.. The University of Salford Students, Union is an affiliated
member of NUSSL who operate a wrchaslng consortlum wllhin the students, union movement.
26 Penslons
Unlv8r81ty of Salford Students. Unlon Ponslon and Llfe Assuranco Schome
The Unlon operated a defined benefit penslon Scheme wh￿h was dosed to future accrual of serylce on 1 Aprll 2006.
This is a separat8 trustee admlnlstar8d fund holding the p8nsion scheme assets to m881 long term pension liabilities.
A fvll actuarial valuallon was carrled out al 31 July 2020 and updated a131 July 2021. The major assumptions used
by th8 actuary ar6 shown b810w.
The most re￿nt actuarial valuation showed o funding shortfall of £895,000. However, ollowance lor the imp8cI of
actual experlence from the valuatlon dale to 26 April 2021 resulted In a fundlng surplus of £46.000 8S 8126 April 2021.
No recovery contributions are therefore payable from June 2021 onwards. Prior lo June 2021 recovery plari payments
were payable at £86,000 per annum {p8yable monlhlyl. Increasing al 3Yo per annum wllh thè first Increasa appllèd on
1 October 2019. In addition, prior lo Jun8 2029. th8 (x)mpany paid £18.000 per annum towards expensès charged to
Page 27 of J1

UNIVERSITY OF SALFORD STUDENTS. UNION
NOTES TO THE FINANCIAL STATEMENTS
16 MONTHS ENDED 31 JULY 2021
the stheme. From June 2021, the company has agreed with the trustees that it will me8t expenses ofthe Scheme and
levSes lo the Pension Protsctlon Fund diroctly.
The contributions pald into the stheme by the company durlng the period In respeol of eliglble employees amounted
to £108,794.
All disclosure infomialion below relates to the movement in the pension scheme since the donallon of all assets and
liabilities lo the Union from the Predecessor Charity on 31 July 2020.
Prosent valuos of dgflngd boneflt obllgatlon, falr value of assets and doflnod bBnefit asset Iliabilityl:
2021
Fair value of plan assets
Present value of defined bonefit Obliga￿On
SurpluslldeficS11 in plan
Unrecognised surplus
6,497,700
5.953,100
544,600
544.600
Reconciliation of opening and ¢10sing balan¢e5 of the definod ben•flt obllgation, $lnc8 donatlon from
the Predecessor Charity..
Pertod ended
31 July 2021
Daflned benefll obllgalion at Stsrt of perlod
InleFesl expense
ActuarSal108S8sI{gain81
Benefits paid & expenses
Lossesl{gainsl due to benefit ohangas
6.601,700
97,100
{487.800}
{257,900)
Oeflned benefk obllgallon at end of perlod
5 953 100
Roconci1Sation of opening and Gloslng balan¢es of the falr value of plan assets, slnce the donatlon
from the Prodocessor Charlty:
Perfod ended
31 July 2021
Falr value of plan assets at start of period
Interest income
Actuarial gainslllossesl
Contributions by the Union
Benefits paid & expenses
6,675.500
99,000
1127.700)
108.800
1257.900)
Fair valuo of plan assets at the end of pertod
6,497,700
Pao0 28 of 31

UNIVERSITY OF SALFORD STUOENTS. UNION
NOTES TO THE FINANCIAL STATEMENTS
16 MONTHS ENDED 31 JULY2021
Thoro are no deflned ￿nefit costs rgcognl$ed in the SOFA during thé yaar.
Dafinad b9ngfit costs r8¢ognlsgd In other comprah8nslve Income:
Perlod ended
31 July 2021
Retum on plan assets (excluding amounts inGluded in not
interest costl_ Ilossygain
Experience gains and losses arising on the plan liabilities
{lossllgaln
Effects of changes in th6 derritsgraphic and financi81 assumptions
underlying the present value of the plan liabilities- gainl(lossl
Effects of changes In the amount of surplus that Is not
recoverable (excluding amounts included in nel Interest costl-
gainllloss}
1127,7001
223.900
263,900
{468,900}
Total amount recognlsed In other comprehenslve Income- galnlllossl
(108,8001
A$$ots:
2021
UK Equities
Overseas Equitias
Corporate Bonds
Government Bonds
Alternativgs
Property
Cash
Insured Pensioners
713,700
1,550,800
239,900
247,500
458,600
187,500
76.700
3,023.000
Total 8S88ts
6,497.700
None of the falr values of the assets shovm above Indude any direct Investments In th6 company's own financial
instruments or any property occupied by. or other assets used by. the Union.
Paao 29 0131

UNIVERsifY OF SALFORD STUDENTS. UNION
NOTES TO THE FINANCIAL STATEMENTS
16 MONTHS ENDED 31 JULY 2021
Assumptlons:
31 July 2021
% per annum
Discounl rale
Inftalion IRPI)
Inftalion (CPI)
Allowance for rev21ualion of deferred penslons of
CPI or 50A p.a. if less
Allowance for pension in payment inGreases of RPI
or 5¥0 p.a. if less, minimum 3% p.a.
Allowance for commutauon of penslon for cash at
r81irem8nl
1.65
3.30
2.50
2.50
3.70
IOOQA of
Post A Day
The mortality assumptions adopted at 31 July 2021 Imply the folloikAng Ilfe 8xpeGtanci8S'.
Llfe expectancy at age 62
(Yoars)
Male rot1￿ng In 2021
Female r611ring In 2021
Male reUring in 2041
Female r8lirlng In 2041
24.1
25.9
25.5
27.5
Greater Manchester Pension Fund (GMPFI
The Unlon Is 8 rnember of the GMPF, which is an externally funded defined benefit pension scheme. which is
contracted out of the Stale Second Pension, where contributions payable are held in a trust separaloly from the
Union.
The 8cheme18 sublecl to Irlennlal valuation by Independent actuaries, the last valuation being carried out as at 31
March 2019 using the prole¢l unll credlt method In which the actuarial liability Makes allowance for projected future
eamings.
The following actuarial assumptions were applied..
Investment r8turn8 3.60/0 per annum
Inflation
3.6% per annum
Salary growth
3.10A per annum
P9nsion Incr8ases 2.3% per annum
Paué 30 of 31

UNIVERSITY OF SALFORD STUDENTS. UNION
NOTESTO THE FINANCIAL STATEMENTS
16 MONTHS ENDED 31 JULY2021
At the last actuarial valuation date the market value of the assets of tho scherng were sufficient lo cover 102Yo of
the benefils that had accru8d to members after allowing for th8 effect of futur& Increases in earnlngs. Thts common
rale of conlrlbutlons payable by each employing authority as at 31 March 2019 is 19.40A of pensSonable pay.
The contributions paid into the scheme in respect of 8liglb16 employees amounted to £11,725.
Na￿onal Employm•nt Savlngs Twst INEST)
Following the Student Unions 8Uto enrolment stsging date in May 2014 the NEST seh8m8 has b68n set up in order to
provide pension arrangements for any staff that become eligible employee8.
The contributions paid into tho schame during tha year w8r8 £34,291.
27 Contlngont Llablllty
There is an ongolng HMRC VAT challenge with Students. Unions relating to the de￿slon by HMRC that VAT should
be chargeable on catering to students from a bar. The dispute is liketyto be settled by a Judicial Review. The chBrit8ble
¢omp8ny Is not under assessment 8nd Ihetsfore11 is not possible lo quantify any potential liability that niay arise.
28 Lagal status of tho charlty
The charity is a company limited by guardnlee and has no share capital. In the event of wtnding up the liability of each
memb6r Is limlled lo £1.
Pagè 31 of 31