2021-06-30-accounts - Manchester United Foundation

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ontents
Chairman's	Review for the year ended 30June 2021			Page 3
Report ofthe Trustees (incorporating the Strategic Report) for the year				Page 4
ended 30June 2021
Reference and Administrative Details				Page 22
Independent	Auditors' Report to the Members of Manchester		United	Page 23
Foundation
Consolidated	Statement of Financial Activities including	an Income and
Expenditure	Account for the year ended 30June 2021			Page 27
Consolidated	Balance Sheet as at 30June 2021			Page 28
Charitable Company Balance Sheet as at 30June 2021				Page 29
Consolidated	Statement ofCash Flows for the year ended 30		June 2021	Page 30
Charitable Company Statement of Cash Flows for the year ended 30June				Page 31
2021
Notes to the	Financial Statements for the year ended 30June		2021	Page 32

Unique	participants	12,166
Total attendances at sessions/events		121,988
Number	ofsessions/events	14,529
Total hours ofdelivery		19,221
Number	of girls engaged /% oftotal	5,355 / 44%
Number	of participants from ethnic minorities /% oftotal	3,437 / 34%
Number	ofdisabled participants /% oftotal	1 090/15%
Number	of qualifications achieved	228

~ ~
Improved	physical activity levels				57.3%
Improved	confidence	/ self esteem			81.1%
Improved	happiness	/ life satisfaction			67.9%
Increased	resilience	/ mental wellbeing			77.9%
Improved	social engagement				91.3%
Improved	educational	behaviour	and attitude	to learning	80.7%
Improved	educational	attainment			82 2
Improved	aspirations				91 8%
Improved	knowledge/skills				83.6%

and Expenditure A	ccount fo	r the	year ended	30June	2021
			Unrestricted funds	Restricted funds	Total	Total
		Note	2021	2021	2021	2020
				E
Income and endowments	from:
Donation and legacies			1,616,294		1,616,294	1,360,072
Charitable activities			377,616	1,796,594	2,174,210	1,918,557
Other trading activities			54,092	389,708	443,800	603,213
Investments			3,901		3,901	30,891
Total			2,051,903	2,186,302	4,238,205	3,912,733
Expenditure on:
Raising funds			(257,666)	(322,819)	(580,485)	(672,681)
Charitable activities			(684,242)	(2,924,234	(3,608,476	(3,630,166)
Total			(941,908)	(3,247,053)	(4,188,961)	(4,302,847)
Net income I (expenditure)	before tax	9	1,109,995	(1,060,751)	49,244	(390,114)
Taxation		9	108	-	108	(98)
Net income I (expenditure)	after tax		1,110,103	(1,060,751)	49,352	(390,212)
Transfers between funds			(1,060,751)	1,060,751
Net movement in funds		18	49,352		49,352	(390,212)
Reconciliation ofFunds
Total funds brought forward	at 1 July		5,357,933		5,357,933	5,748,145
Total funds carried forward at 30 June			5,407,285		5,407,285	5,357,933

Consolidated Bala	nce Sheet as at 30June	2021
		Note	At 30June	At 30June
			2021	2020
				E
CURRENT ASSETS
Debtors		13	437,466	692,908
Cash and cash equivalents			6,459,501	6,689,453
TOTAL CURRENT ASSETS			6,896,967	7,382,361
CREDITORS: AMOUNTS YEAR	FALLING DUE WITHIN ONE	14/15	(1,489,682)	(2,024,428)
NET CURRENT ASSETS			5,407,285	5,357,933
NET ASSETS			5,407,285	5,357,933
THE FUNDS OF THE CHARITY
Restricted income funds		18
Unrestricted funds
Designated funds		22	171,406	270,041
General unrestricted funds		18	5,235,879	5,087,892
TOTAL CHARITY FUNDS		18	5,407,285	5,357,933

Charitable Company Balance Sheet as at	30June 2	021
	Note	At 30June	At30 June
		2021	2020
		f
FIXEDASSETS
Investments	12
CURRENT ASSETS
Debtors	13	628,078	988,958
Cash and cash equivalents		6,059,996	6,326,773
TOTAL CURRENT ASSETS		6,688,074	7,315,731
CREDITORS: AIIOUNTS FALLING DUE WITHIN ONE YEAR	14/15	(1,281,245)	(1,957,799)
NET CURRENT ASSETS		5,406,829	5,357,932
NET ASSETS		5,406,830	5,357,933
THE FUNDS OF THE CHARITY
Restricted income funds	18
Unrestricted funds:
Designated funds	22	171,406	270,041
General unrestricted funds	18	5„235,424	5,087,892
TOTAL CHARITY FUNDS	18	5,406,830	5,357,933

Consolidated State 021	ment of	Cas	h	Flows	for th	e year	ended 30Ju	ne
						Note	2021	2020
								E
Net income/(expenditure)	for the reporting		year (as per
the consolidated statement offinancial activities							49,352	(390,212)
including an Income &Expenditure		Account)
Adjustments for:
Dividends, interest from investments							(3,901)	(30,891)
Decrease in debtors							255,441	2,250,558
Decrease in creditors							(534,745)	(426,677)
Net cash (used in) Igenerated from		operating		activities			(233,853)	1,402,779
							2021 E	2020f
Cash flows from operating	activities
Net cash (used in) Igenerated from		operating		activities			(233,853)	1,402,779
Cash flow from investing	activities
Dividends and interest from	investments						3,901	30,891
Net cash generated from investing activities							3,901	30,891
Net (decrease) Iincrease	in cash and cash equivalents						(229,952)	1,433,670
Cash and cash equivalents	at the beginning		ofthe reporting				6,689,453	5,255,783
year
Gash and cash equivalents	at the end ofthe			reporting	year		6,459,501	6,689,453

June 2021
						2021f	2020f
Net income I(expenditure) the statement offinancial	for the reporting activities)			year (as per		48,897	(390,212)
Ad]ustrnents for:
Dividends, interest from investments						(3,891)	(28,161)
Decrease in debtors						360,880	1,774,205
(Decrease) / increase in creditors						(676,554)	447,436
Net cash (used in) Igenerated from		operating		activities		(270,668)	1,803,268
						2021	2020
						E
Cash flows from operating	activities
Net cash (used in) Igenerated from		operating		activities		(270,668)	1,803,268
Cash flow from investing	activities
Dividends and interest from	investments					3,891	28,161
Net cash generated from	investing	activities				3,891	28,161
Net (decrease) Iincrease	in cash and cash equivalents					(266,777)	1,831,429
Cash and cash equivalents year	at the beginning		ofthe reporting			6,326,773	4,495,344
Cash and cash equivalents	at the end of		the	reporting	year	6,059,996	6,326,773

					Year to	Year to
					30-Jun-21	30-Jun-20
					f	f
Sponsorship					500,000	490,000
Manchester Shield)	United donations			(incl. Community	164,447	197,821
Other charitable		donations	received		326,424	111,741
Gifts in kind					625,423	560,510
					1,616,294	1,360,072

. INCOME AND ENDOWME	NTS FROM: CHARIT	ABLE ACTIVIT	IES
	Unrestricted	Restricted	Year to	Year to
	Funds	Funds	304un-21	30-Jun-20
		f	f	f
Football		146,213	146,213	117,549
Community Engagement		200,492	200,492	225,507
High School Delivery		883,698	883,698	779,762
Primary School Delivery		247,127	247,127	225,604
Education —Other	147,305	133,641	280,946	236,901
Disability Schools Delivery		80,209	80,209	65,128
Covid-19 Response				18,529
Other grants and income	230,311	105,214	335,525	249,577
	377,616	1,796,594	2,174,210	1,918,557

			Year to	Year to
			30-Jun-21	30-Jun-20
Lotteries				219,870
Treks
Charity partner		management	167,989	167,989
Home legends		matches		-1
Overseas	legends matches
FA Girls	Regional Talent Club		194,000	182,583
Other activities			81,811	32,772
			443,800	603,213

5.INCONIE	A	ND	ENDOWMENTS FRONI:	INVESTMENT	S
						Year to 30Jun-21		Year to 30-Jun-20
							E		f
Investment deposits		income received on cash				3,901		30,891
Investment	income		is wholly unrestricted.
6.EXPENDITURE			ON: RAISING FUNDS
				Unrestricted	Restricted	Year to		Year to
				Funds	Funds	30-Jun-21	30-Jun-20
				f
Staff costs				181,828	76,211	258,039		293,808
Group overhead			apportionment	42,877	31,185	74,062		164,776
Fundraising		events		198		198		(61,075)
Departmental		overheads		25,284	(2,090)	23,194		29,947
Girls RTC				0	145,521	145,521		128,773
Gifts in Kind				7,479	71,992	79,471		116,452
				257,666	322,819	580,485		672,681

Notes to the (continued)		financial state	ments for t	he year en	ded 30Ju	ne 202 i
7.EXPENDITURE		ON: CHARITABLE	ACTIVITIES
			Unrestricted	Restricted	Year to	Year to
			Funds	Funds	30-Jun-21	30-Jun-20
Football			100,780	154,819	255,599	270,490
Community Engagement				285,198	285,198	318,520
High School Delivery				1,544,036	1,544,036	1,301,519
Primary School Delivery				387,217	387,217	341,570
Disability Schools		Delivery		140,753	140,753	117,959
Education —Other			189,892	269,08?	458,979	341,607
Covid-19 response		activities	248,499		248,499	?42,695
Other community	delivery		145,071	143,124	288,195	195,806
			684,242	2,924,234	3,608,476	3,630,166

			Year to	Year to
			30Dun-21	30-Jun-20
Audit fees			10,300	10,200
Taxation	services		1,375	4,500
Trustees	indemnity	insurance	4,480	4,787
			16,155	19,487

tandard effec 9%).	tive rate ofcorporati	on tax in the UK for the	year ended 30	June 2021 of	19%(2020:
		B/f per	Credited	Charged	C/f per
		financial			financial
		statements	to Equity	to I8E	statements
Current tax:
Corporation	tax payable
Current year		98	(19,587)	19,479	(10)
		98	(19,587)	19,479	(10)

2021 (continued)	2021 (continued)
9.TAXATION (continued)
					Year to	Year to
					30-Jun-21	30-Jun-20
Current tax:
UK Corporation tax on income and expenditure				for the year	19,587	22,973
Less: Gift Aid					(19,587)	(22,973)
Total current tax
Deferred tax:
Origination and reversal of timing differences					66	182
Adjustment in respect of		previous
periods
Effect ofchanges	in tax rates				(174)	(84)
					(108)	98
Total tax per income and expenditure			account		(108)
					Yearto	Yearto
					30-Jun-21	30-Jun-20
					E	F
Net (expenditure)/	income before tax				49,244	(390,114)
Less: Charitable	exceptions				54,194	511,983
Taxable income					103,438	121,870
Tax on profit at standard		UK tax rate of	19%(2020:19%)		19,653	23,155
Effects of:
Tax rate changes					(174)	(84)
Effect ofgift aid					(19,587)	(22,973)
Total tax charge	for the	year			(108)	98
Deferred tax (assets):					2021	2020
					E
Provision at start	ofyear				(618)	(716)
Adjustment in respect of		prior years
Deferred tax charge to income statement			in the	year	(108)	98
Provision at end	ofyear				(726)	(618)

			Year to	Year to
			304un-21	30-Jun-20
Wages and	salaries		2,550,874	2,362,404
Social security costs			232,398	196,210
Other pension costs (note 20)			191,794	170,053
			2,975,065	2,728,667
Ilonthly average number ofemployees		in the year:	2021	2020
			Number	Number
Operational	Employees		78	71

					Year to	Year to
					304un-21	30-Jun-20
					f	f
Salaries	and	other	short-term	benefits	553,029	507,709
					553029	507 709

2021	2020
Number	Number

As	at 30	As at 30
	June	June
	2021	2020

Charity
Investment	in	subsidiary

summary ofthe b Trading) Limited is	alance sheet and profit and loss account as follows:	for Manchester United Fou	ndation
		As at 30	As at 30
		June	June
		2021	2020
Total assets		433,480	368,469
Total liabilities		(433,025)	(368,468)
Net assets		455	1
		Year to	Year to
		30-Jun-21	30-Jun-20
		f	F
Turnover		484,467	687,168
Expenditure		(381,029)	(565,298)
Profit on ordinary	activities (before taxation
and Gift Aid donation to the Charity)		103,438	121,870

		Group		Charity
		As at 30	As at 30	As at 30	As at 30
		June	June	June	June
		2021	2020	2021	2020
		E	F		F
Trade debtors		277,649	656,238	247,649	656,238
Deferred	tax	726	618
Amount	owed by group undertakings			224,589	301,839
Other debtors		159,091	36,052	155,840	30,881
		437,466	692,908	628,078	988,958

		Group		Charity
		As at 30	As at 30	As at 30	As at 30
		June	June	June	June
		2021	2020	2021	2020
				f	F
Trade creditors		10,857	2,590	10,577	2,590
Corporation	tax
Other creditors		389,684	216,208	254,828	200,836
		400,541	218,798	265,405	203,426

5.ACCR	U	ALS AND DEFER	RED IN	E	E
				Group		Charity
				Asat30	Asat30	As at 30	As at 30
				June 2021	June 2020	June 2021	June 2020
				F	F	F	F
Deferred		Income
School I	College delivery			439,626	355,855	439,626	355,855
Community Engagement Sponsorship Inclusion Programme				56,755 97,222	48,829 500,000 180,556	56,755 97,222	48,829 500,000 180,556
MUDSA	Programme			80,000		80,000
Rise Programme Other Deferred Income				65,990 133,115	129,629	65,990 100,687	122,612
				872,708	1,214,869	840,280	1,207,852
Accruals				216,433	590,761	175,560	546,522
				1,089,141	1,805,630	1,015,840	1,754,374
				Group		Charity
				2021	2020	2021	2020
					F	f	F.
Deferred the year Amounts		Income at the beginning of released from previous years		1,214,869 (1,145,425)	1,094,896 (1,025,452)	1,207,852 (1,138,408)	1,094,896 (1,025,452)
Incoming		resources deferred	in the	803,264	1,145,425	770,836	1,138,408
current year
Deferred		Income atthe end	of the	872,708	1,214,869	840,280	1,207,852
year

				Group		Charity
				As at 30	As at 30	As at 30	As at 30
				June 2021	June 2020	June 2021	June 2020
				E	F	f.	F
Financial	assets		that are debt
Instruments		measured at amortised
cost:
Trade debtors				277,649	656,238	247,649	656,238
Other debtors				159,091	36,052	155,840	30,881
Amounts	owed by		group undertakings			224,589	301,839
Cash at	bank	and	in hand	6,459,501	6,689,453	6059,996	6,326,773
				6,896,241	7,381,743	6,688,074	7,315,731

			Group		Charity
			As at 30	As at 30	As at 30	As at 30
			June 2021	June 2020	June 2021	June 2020
			E			F
Financial	liabilities measured	at
amortised	cost
Trade creditors			10,857	2,590	'I0,577	2,590
Other creditors			389,684	216,208	254,828	200,836
Accruals			216,433	590,761	175,560	546 522
			616,974	809,559	440,965	749,948

8.NET MOVEMENT	IN	FUN	DS
				Unrestricted	Restricted	Total
				income	income	Charity
				funds	funds	Funds
						E
Group and Charity
Total funds brought 2020	forward		at 1 July	5,357,933		5,357,933
Net incoming/(outgoing)		resources before transfers		1,110,103	(1,060,751)	49,352
Gross transfers between		funds		(1,060,751)	1,060,751
Total funds carried	forward		at 30June 2021	5,407,285		5,407,285

Group
Fund balances at	30June 2021 are represented	by:	Unrestrictedf	Restrictedf	Totalf
Current Assets			6,617,169	279,798	6,896,967
Creditors: amounts	falling due within one year		505,262	984,420	1,489,682
			6,111,907	704,622	5,407,285
Charity
Fund balances at	30June 2021 are represented	by:	Unrestrictedf	Restricted f	Total f
Current Assets			6,438,276	249,798	6,688,074
Creditors: amounts	falling due within one year		349,467	931,778	1 281 245
			6,088,809	681,980	5,406,829

		Balance at	Incoming	Resources	Balance at
		1July			30June
		2020f	resourcesf	expendedf	2021f
Covid-19 Response	Fund	270,041		(168,798)	101,243
Santa's Red Helper			297,340	227,178	70,162
		270,041	297,340	395,975	171,406