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2025-07-31-accounts

lh SALFORD su Salford SU Integrated Report 24/25

Contents. (I knLW Strategic Plan Impact Influence Intervene Inform Social Enterprise People & Culture Stakeholders Governance Management Risk Appetite Statements 10. 14. 15. 19. 21. 23. 27. 28. 30. Salford su $attordsuLom

Wgre proud to launch this annual report and the work that we've completed this past year. We're not always good at celebrating our successes - ivs just something about us - but this report does, The union's defining work this year has been tackling student loneliness. We￿e embedded this across everything we do, using a Theory of Change that takes a systsmic, emdence-led approach. And it seems that our members are already responding through more S￿dent activity than ever before. Th￿re also seeing more ciearty how the SU can strengthen their experience and provide the connections and community they need to succeed at universty. The challenges facing students stiLL remaln. and they remain signrficanL C¢)st of living pressures still shape daiLy choices, often isolating students further. Racism, sexual harassmen¢ safety concerns. mentaL health struggles, unequal access to empioyabiknty - these continue to affect students, confidence and security. We￿e delivered projects and campaigns to address each of these reatities (see our case studies beLow), while ensuring through our loneliness work that no student navigates university life alone. None of this works without our partnership with the University. Together we've influenced p0￿cY, enhanced support and strengthened the student voice. We're very grateful to all Untversity colleagues who have supported us. Finally, none of our success would be possible without the hard work of our whole staff team, the support of our Trustees. and the immense dedication of our student volunteers. our thanks go to each of them. Akinwale Bello President and Chair of Trust&s Ed Moloney ChEfE¥ecuts've OffI￿r

Salfcvd PEEL PARK CAMPUS + Lady Halè Buldkng{J • SEE * GMIOT Ilfr trategic Plan. In 2023 the trustees agreed a new strategfjc pian forthe organisation. f5%1(￿." Salford SU empowers students to confront and overcome barrie￿ to their ieaming Vlskn." An inclusive and healthy universty communty where every student knows they matter To enable students to enjoy the ￿fe-Changlng power of ieaming at SaLford. Following wjrk to identify the most significant barrier to Studen￿ learning atthe UnNersty of Salford, the trustees also adopted a * HotyAudrKkn Gour which provides a single priority for the o¢anisation: We will eradicate student lonetiness at the Universty of Salford by 2026. We are undeniably driven bythe needs of our members Pi*•fo(xtsso& We are strwght-foMard. transparent and collaborative Eqthubts.. We ensure equty. diversty and belonging is at the heart of everything we do lthxt. We are creative and progressive change-makers.

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Impact. Annual Election Turnout 25% 200/0 20% 17Wo 12Vo 16% 20121 21122 22123 23124 24125 % of total Salford SV members Ci.e. re￿strred students excluding transnational strjdents) voting in annual sabbaticaleiections as a proportion of the electorate. 32 fulltime officers dent lun Student Influence. 766 1833 students supported cases tal(en on signposted to other support

Intmduction of a student staff advisor rnle. This year a student staff member was introduced into the Adirice Centre to maintain hIgh-qua￿ty advice delivery despite reduced career staff capacity. The role provided a student with meaningful paid work at supervisor-level pay (reflecting the specialist nature of the work) whi15t developing valuable employability skills directly relevant to advisory careers. Working approximately one day per weel the student gained confidence. communication and problem-soLvtng skiLis whilst managing their academic commitments. The student advisor handled 11% of the Advice Centre's casework and led the development of student-facing housing guides, ensuring content was relevant and accessible. The student perspective also helped shape service priorities and engagement approaches strengthening the reLevance of advice provision. This combination of direct casework and project leadership provided comprehensive professional development experience. Athorough recruitment process, including practical tasks. ensured the right candidate was selected. Clear scope boundaries and ongoing supervision mitigated risks around students athiising beyond their remit or man*ing confticts of interest when supporting peers". Regular case reviews monitored the students caseload, with data on case numbers. types and OLAtcomes recorded through the Advice Centre's standard case management process. This enabled consistent quality assurance and evaluation of the role's impact. The roie is now permanent within the staffing modeL reflecting our commitment to employing and training students with their future career. We plan to investigate how we can further integrate this model into advice seNice delivery, consider how to expand this approach to other are4 as well as use the modeL as an exemplar for the Student Jobs Strategy. Our key learning centred on the value of strong structured training and ensuring student staff feel fully supported and integrated into the team. TheAclwce Cents% prow.des friendly. independent und¢onfidentiul¢Jdvlce ondguidcmce to students. topmwde a ronge of ￿￿eSSible resouKes Undslgnposts￿dents to oppmpri(rte suppo Ve￿he￿￿[ given in u culm and understanding way. I felt verysupported throughout the teoms cal( I felt hearLI and understood. I preWOus￿ felt lost with the &tUOtion but I nowknow the logiculi n&%t steps I can take." rrtness to Study p%) NonAcudemic ow SWdentConduct (7W Cost of Lmng studentFttKttKe (2W ' Progression 13%) (8%J .Hou5ing (8%) Not Specified (￿)

The project tas increased awareness of the Equity Ambassadors' role and stren�hened collaboration between students and staff. It has helRed statt bete! understand students' Lived exReriences and demonstrated that student-staf collaboraion can SUPROrt meaninful cliange. ReRorts and 1resentations lave been Rroduced to cai2ture tlie project's journey, and ttie i:2roject tias oeen invited to Rresent its worl< at conferences.

Key enablers include strong collaboration across te University and the Rassion and commitment ot the EquitY, Ambassador, wlo were motivated b� a desire to create change. Challenges include limited funding, whicl restricts full evaluation of impact, and a lad< ot fcus on staff exJerience, whict emered during tte co-creation Rtase. Despite these challenges, tlie Rroject has highligbted significant ine�uities and contributed to tlie Universi�'s work towards more e�uitable Rractices.

Defining Islamophobia at the Univernity of Salford." Co-producing an Insts"tutional Definition and Implementation. In lats 2023. an Islamophobic incident ta¢eting our Islamic Society exposed gaps in howthe insbtution recwised and responded to anti-musum hatred. Police responses and intemal processes faiLed to fully acknowledge the seriousness of what had happened. Muslim students and their representatives told us that something needed to change. What followed was genuine partnership- we worked cioselywith the Universitys Equity, Diverslty and IncLuslon tsam to co-iead alNorking G￿up bringing together academic and professional senlices stsff, student repreSenta￿ve$, and peopLe with lived experience of Islamophobia. We recruited through established nthorks to ensure the work was rooted in Muslim voices whilst maintaining shared institutional ownership. The contsxt malters here: around 20% of our strJdents identFfy as MusLim. compared to 1 In the G￿ater Manchestsr population. National research shows 1 in 3 Mustim students experience abuse or hate incidents, with 1 In 4 saying they wouldn* report it Wtth no UK govemment definltion to guide us - and progress deveiopiTrg one seemindy staLLed - we needed to create our own. By November 2025, the partnetship had produced two key outputs: a Worklng Def iniknon of Islamophobia and a comprehensive draft ImpLementation Guidance Pack covering recognition frameworks, case studies, and practical tools for staff and students. The working definttson itself Is ctear. °Islamophobia is a fonn of discrimination, intoterance. hostility, irrationaLfear, and/or hatred directed towards Muslims and those percewed as Muslim. as well as their beion<ings and places of worship. It is also known as anti-mustim hatred." But wetre aware a definition alone isnt enough. The guidance addresseslsiamophobia at three leve15 - intsrpersonaL institutionaL and curricular- moving us from reactive incident management ts proactive preventlon. It gives staff practiral tools to recognlse discrimination they might otherwise miss and provides Muslim stsff and students with confidence that their experiences will be taken seriously. The work was recognised nationally- in November 2025. the Universty received a'Hlghly Commended, award from the Aziz Foundation. We're proud of that recognityon, and that it validates the cotlaborative approath took The definition is detsberately desEned as a li￿ng document reviewed annuaLiy to remain responslve to our Musilm communitys chanong needs. More still needs to be done to embed this definiiion, from staff trainin& policy intsgration. to Improved reporting mechanisms, as weil as tracking our progress. What made this work was partnership bullt on shared value& A stsdeft￿ Union officerteam composed enti￿LY of Muslim officers who wanted to extract some good from a bad sitijatlon. an EDI tsam committed to proactive instltut¢onai aceountabiiity, and university Leaders wllling to lead where the￿ was a Lack of leadership from successwe govemments

Student Jobs Strategy.. Securing a Sector- Leuding University Commitment to Student Employment. The Student Jobs Strategy is a joint initiative betweÈn Saiford Students. Union and the University of Salford that secured a sector-leading commitment: current students will make up 100/0 of the Universitys professional semces staff headcount by 2026. We are not aware of ary other UK university having made a comparable pubitc commitment to student employment at this scale. The strategy responds to interconnected challenges facing students: financial pressures requiring them to work aLongside study. ￿Mited access to curriculum-reievant employment. and loneliness and disconnection. Student employment had already been identified as an enabLer within the SU s Tackling Loneliness Strategy, recogni5ing that rneaningfulwork on campus can help students build connections whilst eaming income. The initiative ta¢ets all University of SaLford students. with particular benef it for those experiencing f inancial pre55ure, those seeking curriculum-relevant work experience, and students at risk of isoLation. Beyond immediate financial suppo¢ campus employment offers students professional development opportunities directly ￿nked to their studies. reducing the need to work off-campus in roLes that may conflict with academic commitments. Led by the 2024-25 Student Officer team as their main collective priority. the project began in October 2024. The University committed to delivering the 10Yo target through four mechanisms: using extemaL partnerships. better use of the apprentice W, embedding student employment as a condition of capital procurement and working with academic teams to identify course-reiated opportunities. The commitment is embedded within University plans. suggesting strong iong-tem sustainability as the project moves from commitment into debvery. Formal evaluation is planned but notyet compLete. Next steps include: Establishing comprehensive baseline data on current student employment Gathering qualitative feedback from student employees abouttheir experiences Addressing EDI concerns to ensure equitable access to roLes Embedding student employment requirements in procurement processes Scaling curriculum-linked opportunities through academic patherships

Intervene. Student grnup memberships• 3586 Number of attendees at events sk 56.4k 20k 24k 13.5k 20M Irwcived In del* Dces rntln¢iude St￿nt.1¢d COFPEE, _ Levs start by Looking at some of our stsjdent groups. Our sports clubs enjoyed multiple promotions. with our Netbatt tsam being promoted for the third season in a row, SaLford Basketball won the NW Conference Cup, and of course, we won our Varsity match against the University of Chester. And our Teams are starting to knok as good as they're performing, with a new 3-year kit deaL agreed with Surridge as our match and leisurewear provider. In our student societies. Shock Radio were nominated for natlonal awards. and we at50 saw SaLford Racing attending the FormuLa Student Championships. again with the support of both the University and Morton's Group. The development of a Protected Societies Project. which would auow student groups who represent protscted characteristics a life boat should they struggle to elect a full committee, providing staff support to continue to ￿present students. In terms of our events. our improved relationships with the University¥ InternationaL Development team saw increases in Intemational student numbers at events. We introduced new free events based on student feedback to celebrate the diversity of our students, such as Mardi Gras. We rounded off the year with our Sttjdent Group Awards nighL which saw more winners than ever and the inclusion of an Anti-Loneiiness Award to celebrate student contributions towards the o¢anisation's strate&c goal& 10.

Inform. feel infiinn about golng o Key stats forsodai commsforthe year. Foiiowets - 11.2k (increase of1500 followers on Instsgram) Saves on social media posts - 563 Websits visits - 60898 Since the change in organisationaL strateg/. we have a￿gned the marketing departmen( accordingly, altering job descriptions to reflect changes within the marketing sector over the past 5 years. Social media and videography now sit under the same roie, to create more synergy when detivering strategrf and honouring the Large roie video has in sociaL media strategy. All di￿tsL marketing sits with the marketing coordinator roie. with more of an emphasis on email and di￿1 signage after feedback from students that this is where they largely connect with SU update Our overall marl<eting and communications strateg/ has been redesigned to ensure synergy across team output and content with the core focus of tackling ioneltness. ' UNIVRAP A BARGAIh'

Social Enterprise. Social Enterprises Contribution 105k 87k 58k 56k 45k 20121 24 24n5 Cenynerciai net surplus potion 1£) from the vssu margerrent reccrds 20k - £97k of vodka sold gl 13k- £48k pints of Guinness 20k - £59k pints of Coors sold 6k - fA2k bu¢ers 13k - £28k Pepsi Max pints (not incl as mixer) 5k- £32k pizzas £17k worth of lattes sold 20,895.89 paid hours 81ven to student stsff 15k ￿ coffees sold DeveLopment of x2 student supervisors into ' full time career staff as deputy managers sk hash browns Excluding the COVID-impacted year (2020121), the CommercialTeam has nearly tripLed its financial contribution to the Union. This growth has been supported by expanded student reach, notsbLy through the introduction of the Coffee Hut concep( which has performed exceptionaLLy weu driven by its £1 coffee offer. Atrnosphere has also debvered significant increases in sales and contribution through stronger student eng3gement via social mediA the deveLopment of a high-quality. student-focused food offer. and avalue-led drinks strategy that prioritises low prices to drive volume. Commercial marketing has continued to grow. with partners returning to on-site acbvations that focus on meaningful student engagement

07.

Student Union Pitch

The cups and coasters keep the theme running. The glasses will be printed as if the stickers have been hand stuck onto the glass filling the glass all around. A selection of the coasters will also be printed with a variation of the stickers, some will be printed with the stickers individually and then all of them having the atmosbeer in type across the back. The colour palette linked to the type can alternate so � it creates a variation of colours to chose from. Glass.

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Coasters.
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Coasters & Glasses.

13.

National Union of Students (NUS). 4iY 14.

4 ' People & Culture. Staff Engagement 980/0 88Y. 8￿A 82° 20121 24125 Core SU staff respondingposthelyto the statement I would wmmend this Or￿lsatiOn as agood placeto wort. as measured in ourbiannuatstaff engagement survey 15.

Learning & Development." All career-staff training on MIcro-agg￿$Sions in December 24 and January 25. All ￿reer-Staff traFning on having difficult Conversations - Jan 25. Development of GDPR e-leaming module - launched in June 25. Project undertaken by Graduate Intern on the University's Graduate Intemship Programme - supporting a University of .Salford Graduate to gain work experience. From April 2025 we started moving to our new HR system, Cintra The new systew provides a better new starter experience through an onboarding portaL the collection and reporying of equality monitoring daty and better self-serwce access for staff to manage their personal data and records. By JULY 2025. aLL staff data had been moved across. leave management functionality was in use, and poticies uploaded to the system for central access. The next phase of the introduction of this system includes completing and monitoring objectives and development reviews through the system - including alignment of objectives to o¢anisationai strategy. THIS end 11 1$

STATEMENT OF TRUSTEES' RESPONSIBILITIES

The charity trustees (who are also the directors of the Union 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 in England and Wales requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources of the charity for the year. In preparing these financial statements, the trustees are required to:

The trustees are responsible for keeping proper accounting records that are sufficient to show and explain the charitable company's transactions and disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. 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 charity 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 a s the trustees are aware at the date of approval of this report:

Approved by the Trustees of the University of Salford Students' Union and signed on its behalf by:

Akin!!�t

Chair of the Board of Trustees Date: 12th of February 2026

• salfordsu.com [8J students-union@salford.ac.uk

Regisrered Office: University House, The Crescent, Salford, MS 4WT

Regisrered Chrnity No: 1189354

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF

University of Salford Students' Union (A company limited by guarantee)

Opinion

We have audited the financial statements of University of Salford Students' Union (the 'charitable company') for the year ended 31 July 2025 which comprise the Statement of Financial Activities, Balance Sheet, Cash Flow Statement 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:

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 FRCs 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 concem

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 trustee's 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. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Opinions on other matters presaibed by the Companies Act 2006

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

Matters on which we are required to report by exception

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:

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 detennine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

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

Auditor's responsibilities for the audit of the financial statements

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

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

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:

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

knowledge of actual, suspected and alleged fraud; and

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

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

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of 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 is available on the Financial Reporting Council's website at: https://www.frc.org.uk/Our-Work/Audit/Audit-and-assurance/Standards-and-guidance/Standards-and-guidance-for­ auditors/Auditors-responsibilities-for-audit/Description-of-auditors-responsibilities-for-audit.aspx. This description forms part of our auditor's 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.

Simon Hawkins Senior Statutory Auditor

For and on behalf of Dains Audit Limited, Statutory Auditor, Chartered Accountants Suite 2, Albion House 2 Etruria Office Village, Forge Lane, Etruria, Stoke on Trent, STl SRQ

Trustees' Report and Accounts for 2025 -e Year-Ended-3.1_Ju

Registered Charity Number: 1189354

Registered Company Number: 12532982

Charity Name: University of Salford Students' Union Registered Charity Number: 1189354 Registered Company Number: 12532982 Registered Office: University House, The Crescent,

University House, The Crescent, Salford, MS 4WT

Directors and Trustees & Key emenLl!ersonne

All directors of the company are also trustees of the charity, there are no other trustees. The trustees who served during the year were:

Name
Appomted
 Name
Appomted
 Resigned
Position		 Resigned
Position		 Resigned
Position
Susie Pa~~l~~mer-Trew
01-Sep-22
Deputy
Conor Naughton
01-Sep-22
Charlote Stevenson-Stoddard
01-Jul-23
Emma White
- -
01-Jul-24
-~~-~~
-------
--
-
-
---
-
 Chair
-
- -
-
-
-
Akinwale Bello 01-Jul-25 C~~h~~air
Megan Cornes
 01-Jul-25
A~~li~~Aziz Janjua
Hina Rheman Khali
 01-Jul-25
01-Jul-25
S~~h~~e~~b~~a Um~~b~~ule Tayo-Gar~~b~~son
 01-Ju~~l~~-25
He~~l~~en C~~h~~ar~~l~~otte MacIntyre
Maariyah Kadu
-
Dom Smithies

Neil Withnell
-
Mathew Yesudas		 14-Nov-25
14-Nov-25
14-Nov-25
07-Jan-25
07-Jan-25
-
-		 --- --
-
�
-		 -
--
-
-
-
-
-
-
-

1.

Resignations from the board during the period included:

Name Appointed Resigned
Position		 Resigned
Position
Adnan Sabir 01-Jul-23 30-Jun-25
30-Jun-25
Humoud Aljassar 01-Jul-23
 30-Jun-25
Karina Lurea 01-Jul-23
30-Jun-25
Alvina lmran 01-Jul-24
30-Jun-25		 Chair
Ahmad Ali 01-Jul-24
30-Jun-25
Sara Sara
 01-Jul-24
30-Jun-25
Alshba Malk 01-Jul-24
30-Jun-25

Company Secretary:

Ed Moloney Nick Smith

Key Management Personnel:

Ed Moloney Chief Executive Officer Andy Hargreaves Director of Engagement Lauren Beckett Director of Advocacy

Advisors

Auditors: Dains Audit Limited, Suite 2, Albion House, 2 Etruria Office Village, Forge Lane, Stoke on Trent, ST1 5RQ. Bankers: The Cooperative Bank PLC, PO Box 101, 1 Balloon Street, Manchester, M60 4EP

Insurance: Howdens, The Quadrangle, Imperial Square Cheltenham, Gloucestershire, GL50 1PZ.

~~Trustees~~ ['] ~~Repor~~

The Trustees, who are directors for the purposes of company Law, present the annual report together with the financial statements and auditors' report of the charitable company for the year ended 31st July 2025.

The trustees have adopted the provisions of 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 the Republic of Ireland (FRS 102) (effective 1 January 2019).

2.

v G.o. D.o um.en

The University of Salford Students' Union (the Union) is a students' union within the meaning of the Education Act 1994. The Union is devoted to the educational interests and welfare of its members. It is the independent representative body of the students at the University of Salford.

The Union is a company limited by guarantee and without shares (company number 12532982) and a charity (charity number 1189354).

The Union is governed by Articles of Association effective from the 24 th of February 2025, a set of Bye-laws, the University of Salford and the Charity Commission. The Union also has a Memorandum of Understanding with the University of Salford. The Articles of Association state the Union's principle objectives as:

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 the right, which must be exercised in accordance with charity law, to elect a proportion of the Trustees and to dismiss all the Trustees. The Board of Trustees will give the utmost consideration to the views of Student Members.

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

3.

eublic Benefit Statement

The Trustees have given due consideration to Charity Commission published guidance on the operation of the public benefit requirement and are satisfied that the charitable company meets these requirements.

J.e_uustee Board

The Union is democratically controlled through the annual election of a team of student representatives who form part of the Union's Board of Trustees. The membership of the Trustee Board is as follows:

The Trustees determine policy for all areas of Union activity. The sabbatical trustees are full time student officers of the organisation and work for the Union for a year either during or at the end of their degree course to represent students on a full-time basis. The Trustee Board remit can be summarised as follows:

1Strategy
 Formulating, monitoring and implementing plans.
Providing effective financial management and
oversight including the formation of budgets
I Financial
~~'~~Performance Monitoring and evaluating the performance of
staff, services and activities
Line managing and supporting the Chief Executive
including performance monitoring. Ensuring there
are effective reporting and monitoring processes
in place to effectively manage the risks of the
Union.
Ensuring there is a comprehensive programme of
member consultation in place. Promoting the
effective involvement of members.
!Ensuring the effective election/selection,
induction and appraisal of trustee board members
Line Management
Risk Management
Consultation lnvolement
Trustee Recruitment
Reporing
Considering Commitee
Repors
'
The Sabbatical Trustees work alongside the
permanent Union staff to implement and carry out
the strategy and policies set by the Trustee Board.
The permanent staff team is managed by the Chief
Executive Officer, who is directly accountable to
the TrusteeBoardfor the Unions'performance

4.

Risk management is the responsibility of the Trustee Board. The senior managers of the Union have delegated authority for identifying the risks facing the organisation and reporting these to the Trustees as they arise in relation to items of business at the Board. In addition, the senior managers provide the information to enable the Trustees to undertake an annual review.

The Trustee Board examines the major strategic, business and operational risks which the Union faces on an annual basis. The Trustees confirm that systems have been established to enable regular reports to be produced.

e ser.v.es

Details of the funds are set out below:

£'s 2025 2024
Unrestricted Funds 356,601 256,356
Designated Fixed Assets Fund - being a fund 130,433 300,402
representing the net book value of fixed assets
owned by the charitable company
Unrestricted Funds 76,524 76,707
Total Reserves 563,557 633,465

Rese.r.v.es_2cl ic

The trustees have adopted a reserves policy, the objective of which is to protect the Union 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:

At the same time the trustees want to ensure reserves are not too high to maximise the resources applied to the Union's charitable purpose and the ability to invest in the Unions fixed assets to maintain the quality and standards of its service provision.

5.

The trustees understand that a reserve against loss in trading income would not mitigate a decrease in income from the University block grant. However, the risk level of such is regarded to be low. The trustees have therefore set a target of the Union holding a minimum of six months' loss in trading income in unrestricted funds. Based on the 2024/25 financial year this target figure would equate to £612,619. At 31 July 2025 the Union held unrestricted funds of £356,600 (2024: £256,356) equating to 56% (39% 2024) of the target level.

In 2024 the trustees took the decision to fund the buy-out of the Union's antiquated defined benefit pension scheme, that has been closed to accrual. The pension scheme is the largest risk to the organisation, and a unique opportunity to continue with the buy-out arose. This decision will require investment from the Union and it is likely to reduce the reserves position. The university has provided additional support, should the organisation require it, through the offering of a loan facility, which the Union does not currently intend to draw upon.

Ap�ointment of Ir.ustees

The Union's Articles of Association states there shall be "not more than five Sabbatical officer Trustees, elected ... ; not more than four Student Trustees, appointed ... ; and not more than four Lay Trustees, appointed ... ;"

Sabbaticals

Up to five Sabbatical Officer Trustees are elected by secret ballot of the Members of the Union at an election held in accordance with the Election Regulations. They remain in post for a term of one year between the 1 July and the 30 June. They may be re-elected for a maximum of one further term of one year. This may be consecutive or non-consecutive; the total maximum term that can be served is twenty-four months. Each Officer Trustee must be a student or an Officer Trustee at the time of the election. An Officer Trustee becomes a member of the Union on commencement of their appointment or reappointment and this membership ceases when they cease to be an officer trustee.

Student Trustees

Up to four student trustees are appointed by a panel drawn from the Trustee Board. Each Student Trustee must be a student at the time of their appointment. The role may be shorter or longer on a transitional basis to coincide with the alteration of the year start or end. A student trustee may serve a maximum of two years that may be consecutive or non-consecutive.

6.

Lay Trustees

The trustees are required to appoint by a simple majority vote such persons as they consider suitable to be Lay Trustees. Unless their appointment is terminated in accordance with the Articles of Association, Lay Trustees remain in office for a term of up to four years. They are eligible for reappointment by a simple majority vote of the Trustees for a further term of four years but are not eligible for re-appointment thereafter if they have served a total maximum term of eight years.

I,ut -nducon& Train ~~;~~

~~;~~ -

All new trustees engage in a comprehensive training programme which includes:

On-going training needs for Trustees are continually monitored by the Chief Executive Officer and President.

The Students' Union

The Union is involved in a wide range of activities. Its core purpose is to represent students and provide activities for them to enhance the student experience. To that end the Union organises campaigns on issues of concern to the generality of students, administers the work of approximately 100 different sports teams and societies, trains and develops over 600 student course representatives and operates a Student Advice Centre.

The Union's commercial activities includes Atmosphere which incorporates a cafe and Licenced premises offering a social eating and drinking space. The Union also puts on social events for members. The Union also receives financial contributions from its relationship with Chartwells, who operate the retail space on campus.

The majority of Union core activity is funded from the grant received from th University.

7.

he..Staff. Teams

There is a core staff team of 35 staff and approximately 60 casual student staff members. Union staff members work across five functional areas of the Union:

elated P-arties

The University of Salford is the parent institution of Salford SU. The Salford SU received a revenue block grant in the year from the University of Salford of £1,397,000 (2024: £1,282,000).

8.

Statement of financial activities for ~~the ea ended 31 . 025~~ st ......

~~the ea en~~ ~~ded 31~~.
~~. 025~~
£'s
No		 2
Gee
D�
Re
To
Fu
Fu		 2
To
1,282,000
1,343,130
60,265
58,710
Income
Donations & Legacies
2
Charitable Activities
3
Other Trading Activities
4
Investments
5
Subot
Endir
Raising Funds
6
Charitable Activities
7
Other
8
Sub
Ne Income (ndire)
Funds Broug Fr
Fund Transfers
Funds Ce Fr		 1,397,000
77,004
1,474,004
1,225,239
(183)
1,225,056
70,306
70,306
53,553
53,553
2,746,098
76,821
2,822,918
120,298
1,018
121,316
2,495,240
69,478
77,004
2,641,722
129,789
129,789
2,615,538
200,285
T,004
2,892,827
130,560
(200,285)
(183)
(69,908)
256,356
300,402
76,707
633,465
(30,316)
(30,316)
356,601
130,433
76,524
563,55
2,744,105
105,768
2,751,849
76,512
2,934,129
(190,024)

9.

t- 31st.Jut �02 Balance Shee as at

Fbced A
Tangible Assets
11
Curnt A
Stocks
12
Debtors
13
Investments
14
Cash & Bank
Credior
Amount falling due < 1 year
15
Net Curnt A
NetA
Te Funds of the Cha
Restricted
18
Unrestricted
18
Designated
18
Tot Funds		 2025
£
130,432
15,208
21,198
100,273
121,615
448,438
431,885
113,075
90,448
676,994
665,146
(243,455)
(208,594)
433,539
563,971
76,524
356,601
130,433
563,55		 2024
£
176,913
456,552
633,465
76,707
256,356
300,402
633,465

The notes on pages 12-28 form part of these financial statements. Approved by the trustees of the University of Salford Students' Union on the 12th February 2026.

Akinwale Bello

----- Start of picture text -----
Chair
----- End of picture text -----

12th of February 2026

Conor Naughton Deputy Chair

26th of February 2026

10.

Statement of CashflolN for the Vear ~~31s_ul~~ 5 Ended ............

£'s
No
Ne ch prvided b (used in) operng aes
20
csh flws fm investing aes:
Purchase of fixed assets
Sale proceeds from disposal of fixed assets
Net csh provided b (used in invesng aes
Chage in csh ad csh equivent in the perod
Cash and cash equivalents at the beginning of the period
ch ad csh equient a the end of the perod
21		 2025
63,194
(24,015)
(24,015)
39,180
522,333
561,513		 2024
30,481
(80,395)
(80,395)
(49,914)
572,247
522,333

The notes on pages 12-28 form part of these financial statements

11.

Notes to the Financial Statements for be Year-Ended 31st Ju�

Note 1 Accounting Policies

The University of Salford Students' Union, 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) effective 1 January 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), the Charities Act 2011 and Generally Accepted Accounting Practice.

The University of Salford Students' Union 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 charitable company and rounded to the nearest£.

b) Incoming resources

Incoming resources are included in the Statement of Financial Activities (SoFA) when the charitable company 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.

12.

c) Donated services and facilities

Donated services and facilities are recognised as income when the charitable company 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.

Donated services and donated facilities are recognised on the basis of the value of the gift to the charitable company which is the amount the charitable company 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 charitable company but do not directly represent charitable activities and include office & admin costs, facility costs and supporting marketing costs which are allocated to activity based on the proportion of that activity's direct costs to total costs.

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

The entity has the following funds which are shown separately in the accounts:

13.

g) Fixed assets and depreciation

Fixed assets are stated at cost less accumulated depreciation.

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:

Fixtures, Fittings & Equipment: 10% to 33% straight Line per annum Building Improvements: 4% to 10% straight line per annum

Motor Vehicles: 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 less than one year.

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.

I) Creditors and provisions

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

14.

m) Financial instruments

The charitable company 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 Union operates two defined benefit pension schemes for all qualifying employees.

The Greater Manchester Pension fund operates on a pooled arrangement with contributions agreed centrally. As a consequence, no share of the underlying assets and liabilities can be directly attributed to the Union. Under the terms of FRS102, in these circumstances, contributions can be accounted for as if the scheme was a defined contribution scheme based on actual contributions paid throughout the year.

The Union of Salford Students Union Pension and Life Assurance Scheme contributions are accounted for on a full actuarial valuation basis as at the year­ end.

Following the introduction of auto enrolment a National Employment Savings Trust (NEST) has now been set up in order to provide pension arrangements for any staff that now become eligible jobholders.

o) Taxation

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

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.

15.

q) Going Concern

The Union has net assets of £558k (2024: £633k).

With the continued support of the University, 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.

Note 2-Donations & Le acies ..

£'s Gee 2
Dg		 Re To 20
To
University Block Grant 1,397,000 1,397,000 1,282,000
Other Grants 77,004 7 7,004
To 1,397,000 77,004 1,474,004 1,282,000
te3lncome-11:omharitable.Actbtities
2025 2024
£'s Gee Dg Re To To
Bar 738,834 738,834 801,339
Catering 380,953 380,953 339,395
Student Support Activities 28,733 28,733 21,762
Graduate Portrait Commission 43,325 43,325 52,867
Student Serices e.g Societ 33,394 33,394 34,512
Membership
Net Movement in Student Funds (183) (183)
National Lotter Communit Funding 16,555
Equity Advocate Funding 53,511
Academic Society Funing 23,180
To 1,225,239 (183) 1,225,056 1,343,130

ote. 4. Income-from Other IracinActi.v[i] ties

£'s 2025
Gee
Dg
Re
450
38�42
31,714
70,306
To
450
38,142
31,714
70,306
2024
To
27,962
32,303
60,265
Venue Hire & Franchise Income
Media Income
Retail & Clothing Commission
To

16.

oie...5.. lmtestme n t.J om.e.

2025 2024
£'s General Designated Restricted Total Total
Investment Income 53,553 53,553 58,710
Total 53,553 53,553 58;710
ote 6 An enditw:
ote 6 An e nditw:
2025
£'s Cost
Sales		 staff

Costs		 other
Costs		 Govemance
Costs		 Su= Total
Raising Funds 70,806 17,446 4,541 28,440 121,232
Charitable Activ ties
Bar 232,278
355,960		 194,533 40,274 252,253 1,075,298
Catering 132,023 105,056 23,801 13,433 84,070 358,372
Student Services incl Societies 566,019 260,999 42,550 266,512 1,136,080
Equity Advocate Fund 72,290 4,714 77,004
Total Charitable Activities 364,301 1,099,325 484,047 96,247 602,835 2,646,754
Other - Designated
Pension Scheme Costs 129,789 129,789
Total 364,301 1,170,131 631,282 100,787 631,274 2,897,776
2024
£'s Cost
Sales		 staff
Costs		 other
Costs		 Govemance
Costs		 � Total
Raising Funds 67,381 9,704 3,096 25,587 105,768
Charitable Activities
Bar 273,441 456,229 195,148 37,143 306,978 1,268,939
Catering 158,263 51,945 17,019 9�26 75,425 311,778
Student Services incl Societies 533,975 228,587 30,627 253J20 1,046,309
National Lottery Community Fund 16,555 16,555
Equity Advocate Fund 53,500 53,500
Academic Society Fund 23,180 23,180
Strike Fund 16,787 16,787
Loneliness Goal Fund 14,802 14,802
Total Charitable Activities 431,704 1,042,149 565,578 76,896 635,523 2,751,849
Other - Designated
Pension Scheme Costs 76,512 76,512
Total 431,704 1,109,530 651,794 79,992 661,110 2,934,129

17.

Of the total expenditure £2,820,777 (2024: £2,809,307) was unrestricted and £77, 004 (2024: £124,825) was restricted.

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

Governance and support costs can be analysed as follows

£'s 20 2
Staff Costs 437,215 320,036
Staff Recruitment, Training & Social Casts 15,931 34,332
Facilit Costs 32,542 33,550
Office & Finance Costs 43,288 40,407
Frave� Sibsistence & Conference Costs 17,239 8,658
Lega� Professional & Consultancy 100,948 148,994
Marketing/ Website Costs 664 818
Irrecoverable V 31,290 30,983
Depreciation 7,847 88,473
Sundr Costs 45,098 34,851
Tot 732,062 741,102

Note1Net..lncome l (Expenditure for the Year

This is stated after charging

£'s 2025 2024
Depreciation 70,496 139,808
Profit / (loss) on Disposal of Fixed Assets
Bad Debts Incurred (60)
Auditor Remuneration 7,600 7,250

Note SAnalysis al.Staff Costs & Ke Management Personnel

Staff costs were as follows

£'s 2025
1,481,058
116,696
0
28,418
11,712
1,121
1,639,005
2024
1,325,039
94,095
0
17,337
10,297
1�42
1,447,910
Salaries & Wages
Social Security Costs
Termination Payments
Employer's Contribution to a defined contribution pension scheme
Operating Costs of Defined Benefit Pension Schemes
Other Employee Benefits
Tot

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

No. 2025 2024
£70,000-£79,999 1 1

The total employee benefits including pension contributions of the key management personnel were £326,142 (2024 271,142). Key management personnel include the employees and trustees noted on pages 1 and 2 of the accounts.

Ex gratia payments of £2,000 were made in the year.

�ote_9...Ir.u.stees Remuneration ancLEx ense

£'s 2025 2024
Trustees' Remuneration & Employer's NI 137,853 125,241
Trustees' Expenses 6,254 8,265
Total 144,107 133,506

Each of the student officers received a salary of £24,860 per annum as authorised in the Articles of Association of the University of Salford Students' Union 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 MPs.

The trustees expenses of £5,551 (2024: £6,265) were incurred by 5 (2024: 5) trustees in respect of travel and subsistence costs in the course of their duties.

�o.te. 1 Q Staff umbets

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

No. 2025 2024
Raising Funds 6.0 3.6
Bar 51.0 55.8
Catering 4.0 1.4
Student Services 36.0 31.3
Governance 0.0 1.0
Support Services 9.0 11.2
Total 106.0 104.2

19.

Note 11 Tan ible. Fixd Aset

Note11 Tanible.Fixd Aset Note11 Tanible.Fixd Aset
£'s
Cost
At 31 July 2024
Additions
Disposals
At 31 July 2025
Depreciation
At 31 July 2024
Charge For The Year Disposals
At 31 July 2025
Ne Book Value
A 31 Jul 2025
At 31 July 2024
Dte12.tock
£'5
Bi�
Impr
1,037,906
1,037,906
1,006,528
19,569
1,026,097
11,809
31,378
Fr&
Fln
364,252
24,015
388,267
218,717
50,927
269,644
118,623
145,535
Mor
Vei
17,607
17,607
17,607
17,607
2025		 To
1,419,765
24,015
1,443,780
1,242,852
70,496
1,313,348
130,432
176,913
2024
Bars
Catering
Totl
Not3..Debtors
£'5		 10,728
4,480
15,208
2025		 19,841
1,347
21,198
2024
18,726
6,303
94,611
1,975
121,615
2024
Trade Debtors
Other Debtors
Prepayments & Accrued Income
Other Taxes
Totl
N.ote 14 Current Asset Investments
£'5
Carrying Value at Beginning of the Period
Additions to Investments at Cost
Disposals at Carrying Value
Totl		 12,052
4,319
83,901
100,273
2025
431,885
1,066,553
(1,050,000)
448,438
416,961
1,049,942
(1,035,000)
431,885

20.

£'5
Trade Creditors
Social Securit & Other Taxes
Other Creditors
Accruals & Deferred Income
Tot		 2025
30,635
39,767
4,310
169,157
243,869		 2
50,659
23,690
3,774
130,471
208,594

Nte .l6D ced Jc.me

Nte. l6D ced Jc.me
£'s 2025
6,500
(6,500)
48,590
48,590
2
~~6,500~~
6,500
Carring Value At Beginning of the Period
Amoount Reversed in the Year
Amounts Deferred in the Year
Tot

C ote 1.7. Commitment

At 31 July 2025 there were no capital c_ommitments

StaemeLafErMovement ote 18

Fr teCn
Ve Eded 3
Jul 2025 £'s		 Bc
�
31n/2		 Ine Edir T Bc
ced
Fr
31n125
Unrestricted 256,357 2,746,098 {2,615.538) {30,316) 356,601
Designated Fixed Asset Fund 126,510 (70,496) 50,154 106,168
Capital Grant 50,403 (26�39) 24,265
Pension Fund 123,488 (129,789) 6,301 (0)
Designated Total 300,401 (200,285) 4,17 130,433
Restricted Societies 76,696 260,484 (260,667) 76,513
Equit Advocate Fund 11 77,004 (77,004) 11
Resced Tot 76,707 337,488 (337671) 76,524
Tot Funds 633,465 3,083,586 (3,153,494} 563,557

21.

For the CwTent
Vear Ended 31
July 2024 £'s		 Balance
Brou�
31n/23		 Income Expenditure Transfer Balance
31n/24
Unrestricted 406,031 2,650,232 (2,592,985) (206,921) 256,357
Designated Fixed Asset Fund 185,922 (139,807) 80,395 126,510
Deferred Capital Grant 123,877 (73.474) 50,403
Pension Fund (76,512) 200,000 123,488
Designated Total 309,799 (216,319) 206,921 350,805
Restricted Societies 76,069 627 76,696
Strike Fund 16,788 (16,788)
Loneliness Goal 14,802 (14,802)
National Lottery 16,555 (16,555)
Community Fund
Equity Advocate Fund 53,511 (53,500) 11
Academic Society Fund 23,180 (23,180)
Restricted Total 107,659 93,873 (124,825) 76,707
Total Funds 823,489 2,744,105 (2,934,129) 633,465

Designated Funds

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

Fixed Asset Fund

The net book value of assets purchased with unrestricted funds.

Capital Grant Relates to capital grant received for building refurbishment

Pension Fund

Created to cover the cost of any future expenditure in relation to the University of Salford Students' Union Pension & Life Assurance Scheme.

22.

Restricted Funds

The restricted funds comprise:.

Clubs & societies funds

Represent the balance on the clubs & societies own income accounts.

The Equity Advocate Fund

Represents funds provided by the University in order for the Student Union in order to create solutions that will enable the University to advance their EDI Statement of Ambition Goals.

Reserve Transfers

Fixed Assets

Pension Fund

Transfer of funds to fixed assets for fixed asset additions from general funds.

Transfer of additional costs above pension reserve balance from general funds.

Note � sis of Ne.tAsses.Betee Eunds

Aa31s
Jul 202 £'s
Tangible Fixed Assets
Cash & Short Term Investments
Other Net Current Assets (Liabilities)
Totl
Aa31s
July 2024 £'s
Tangible Fixed Assets
Cash & Short Term Investments
other Net Current Assets (Liabilities)		 Gee
D·=
Restlc
Fund
e und
Fund
To
130,432
130,432
460,724
24,265
76,524
561,513
(128,389)
1
(128,388)
332,336
154,697
76,524
563,557
Gee
D·=
Re
Fund
e und
Fund
To
176,913
176,913
321,841
123,488
77,004
522,333
(116,186)
50,404
(65,781)
205,656
350,805
77,004
633,465

23.

Note 20 Reconciliation of Net lncome/(Expenditure) to eLCash Elow from..O erati�e-tivities

£'s 2025 2024
Net Movement in Funds (69,908) (190,024)
Add Back Depreciation Charge 70,496 139,808
(Increase) / Decrease in Stocks 5,990 (6,961)
(Increase) / Decrease in Debtors 21,342 75,621
(Increase) / Decrease in Creditors 35,275 12,037
Total 63,196 30,481
ote..2.1.Ana�isof Casb_and Cash �uhtalents
£'s 2025 2024
Cash in Hand
Current Accounts 113,075 90,448
Deposit Accounts 448,438 431,885
Total 561,513 522,333

Nota..22 Related P-arty_Ttansactions

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

The University of Salford:

In the year the University of Salford Students' Union received total grants of £1,474,000 {2024: £1,282,000) from the University of Salford, there was £87,010 {2024: £71,662 of purchase recharges and £154,672 {2024: £104,634) of sales recharges. The net year end debtor with the University, including funds on deposit was £448,438 {2024: £444,334).

Trustees of the University of Salford Students' Union:

See note 09 - Trustees' remuneration and expenses.

National Union of Students Services Ltd (NUSSL):

The University of Salford Students' Union is an affiliated member of NUSSL who operate a purchasing consortium within the students' union movement.

24.

3 Pensions N.o.tE!.-2

University of Salford Students' Union Pension and Life Assurance Scheme

The Union operated a defined benefit pension scheme which was closed to future accrual of service on 1 April 2006. This is a separate trustee administered fund holding the pension scheme assets to meet long term pension liabilities. A full actuarial valuation was carried out at 31 July 2020 and updated at 31 July 2021. The major assumptions used by the actuary are shown below.

The most recent actuarial valuation showed a funding shortfall of £895,000. However, allowance for the impact of actual experience from the valuation date to 26 April 2021 resulted in a funding surplus of £46,000 as at 26 April 2021. No recovery contributions are therefore payable from June 2021 onwards. Prior to June 2021 recovery plan payments were payable at £86,000 per annum (payable monthly), increasing at 3% per annum with the first increase applied on 1 October 2019. In addition, prior to June 2021, the company paid £18,000 per annum towards expenses charged to the scheme. From June 2021, the company has agreed with the trustees that it will meet expenses of the scheme and levies to the Pension Protection Fund directly.

During the previous year there has been a buy-in with Just Retirement with an inception date of 17 May 2024 and a premium of £2.376m. Now that the plan has been fully bought-in, the asset breakdown of the plan is composed of insured pensions/deferred pensions and cash. The value of the bulk annuity with Just Retirement and legacy annuity policies with Aviva and ReAssure have been set equal to the corresponding value of the FRS102 liabilities less the allowance for GMP equalisation.

The contributions paid into the scheme by the company during the year in respect of eligible employees amounted to £nil (2024: £nil).

Present values of defined benefit obligation, fair value of assets and defined benefit asset (liability):

£'s 2025 2024
Fair Value of Plan Assets 3,630,493 3,778,400
Present Value of Defined Benefit Obligation 3,465,289 3,630,500
Surplus / (Defecit} in Plan 165,204 147,900
Unrecognised Surplus 165,204 147,900

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Reconciliation of opening and closing balances of the defined benefit obligation:

Reconciliation of opening and closing balanc
obligation:		 es of the defined benefit
£'s 2025 2024
Defined Benefit Obligation at Start of Period 3,630,500 3,556,300
Interest Expense 172,799 180,600
Actuarial Losses_I_(Gains) (130,048) 125,200
Benefits Paid & Expenses (207,962) (231,600)
Surplus / (Defecit) in Plan 3,465,289 3,630,500

Surplus / (Defecit) in Plan

Reconciliation of opening and closing balances of the fair value of plan assets:

£'s 2025 2024
Fair Value of Plan Assets at Start of Period 3,778,400 4,579,500
Interest Income 180,046 232,300
Actuarial Gains / (Losses) (199,991) (730,500)
Employer Settlement Payments {74,400)
Benefits Paid & Expenses {207,962) (228,500)
Fair Value of Plan Assets at the End of Period 3,630,493 3,778,400

Defined benefit costs recognised in other comprehensive income:

£'s 2025 2024
Return on Plan Assets (Excluding Amounts Included (119,991) (730,500)
in Net Interest Cost) - (Loss) / Gain
Experience Gains and Losses Arising on the Plan Liabilities {270,813) 7,400
(Loss) / Gain
Effect on Changes in the Demographic and Financial Assumptions 400,861 {132,600)
Underlying the Present Value of the Plan Liabilities - Gain / (Loss)
Effects of Changes in the Amount of Surplus that is not Recoverable (10,057) 927,000
(Excluding Amounts Included in Net Interest Cost) - Gain / (Loss)
Total Amount Recognised in Other Comprehensive Income-Gain / (Loss) 71,300

These amounts are not recognised in the financial statements to the extent that the pension scheme remains in surplus.

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£'5
£'5
2025
Equity Instruments
Debt Instruments
Proper
Cash
168,666
Other
3,461,827
Totl Aet
3,630,493		 2024
151,600
3,626,800
3,78,400

None of the fair values of the assets shown above include any direct investments in the company's own financial instruments or any property occupied by, or other assets used by, the Union.

% 2025 2024
Discount Rate 5.60% 4.90%
Inflation (RPI) 3.05% 3.25%
Inflation (CPI) 2.35% 2.45%
Allowance for Revaluation of Deferred Pensions of CPI or 5% p.a. if less 2.35% 2.45%
Allowance for Pension in Payment Increases of RPI or %5 p.a. if less, 2.60% 3.70%
minumum 3% p.a
Allowance for Commutation of Pension for Cash at Retirement 100% of 100% of
post a day post a day

The mortality assumptions adopted at 31 July 2025 imply the following life expectancies:


expectancies:
LE
a A G2 (e)
Male Retiring in 2024 23
Female Retiring in 2024 26
Male Retiring in 2043 25
Female Retiring in 2043 27

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Greater Manchester Pension Fund (GMPF)

The Union is a member of the GMPF, which is an externally funded defined benefit pension scheme, which is contracted out of the State Second Pension, where contributions payable are held in a trust separately from the Union.

The scheme is subject to triennial valuation by independent actuaries, the last valuation being carried out as at 31 March 2022 using the project unit credit method in which the actuarial liability makes allowance for projected future earnings.

The following actuarial assumptions were applied:

Investment returns 2.9% per annum Inflation 3.6% per annum Salary growth 3.7% per annum Pension increases 2.9% per annum

At the last actuarial valuation date the market value of the assets of the scheme were sufficient to cover 104% of the benefits that had accrued to members after allowing for the effect of future increases in earnings. The common rate of contributions payable by each employing authority as at 31 March 2022 is 18.9% of pensionable pay.

The contributions paid into the scheme in respect of eligible employees amounted to £8,692 (2024: £13,570).

National Employment Savings Trust (NEST)

Following the Student Unions auto enrolment staging date in May 2014 the NEST scheme has been set up in order to provide pension arrangements for any staff that become eligible employees.

The contributions paid into the scheme during the year were £50,640 (2024: £40,452)

Note 24 Contingent LiabiUt

There is an ongoing HMRC VAT challenge with Students' Unions relating to the decision by HMRC that VAT should be chargeable on catering to students from a bar. The dispute is likely to be settled by a Judicial Review. A provision of £85,000 (2024: £72,000) has been made to cover any potential liability arising from the outcome.

rit N.nte 25 LegaLStatus nl.the Cha

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.

28.