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2023-06-30-accounts

Contents Contents
Chair's
Review for the year ended 30June 2023		 Page 3
Report ofthe Trustees (Incorporating
the Strategic Report) for		 the year Page 4
ended 30June 2023
Reference and Administrative
Details		 Page 23
Independent Auditors'
Report to the Members
of Manchester		 United Page 24
Foundation
Consolidated Statement
of Financial Activities
including		 an Income and
Fxpehditure Account for the year ended 30June 2023 Page 28
Consolidated Balance Sheet as at 30June 2023 Page 29
Charitable
Company
Balance Sheet as at 30June 2023		 Page 30
Consolidated Statement
ofCash Flows for the year ended 30		 June 2023 Page 31
Charitable
Company
Statement
ofCash Flows for the year ended 30June		 Page 32
2023
Notes to the Financial Statements
for the year ended 30 June		 2023 Page 33-49

Unique participants 11,532
Total attendances
at sessions
and events		 29,883
Number ofsessions and events 15,313
Total hours ofdelivery 19,058
Number ofgirls engaged /% oftotal 4598/41%
Number of participants
from ethnic minority		 groups /% oftotal 3550/31%
Number ofdisabled
participants
/. %oftotal		 239 / 5%

ation
h		 as delivered the following
outputs to		 disable d
participants:
Unique participants 1,724
Total attenclances
at sessions and events		 33,972
Number ofsessions and events 4,545
Total hours of delivery 5,804
Number of girls engaged
/ %oftotal		 507 / 29%
Number ofparticipants
from ethnic minonty		 groups / %oftotal 409 / 24%o
Number ofdisabled participants! %oftotal 1;058/ 76%

e post-1 6teams have engaged
with
Unique participants 578
Total aNendances
at sessions
and events		 8,679
Number ofsessions and events 1,848
Total hours ofdelivery 5,176
Number of girls engaged
/ % oftotal		 157/ 27%
Number of participants
from ethnic minority		 groups /% oftotal 143 / 25%o
Number of disabled
participants
/ %oftotal		 35/11%

s period , the Foundation
has de		 livered
the		 following
on the Street		 Reds program
Unique participants 6,641
Total attendances
a't sessions and events		 312,179
Number ofsessions and events 2,286
Total hours ofdelivery 3,064
hiumber of girls engaged I '/a of total 1,656I25/a
Number of participants
from ethnic minority		 groups I '/a oftotal 2,365I 36~/a
Number ofdisabled
participants		 I '/o oftotal 283I 4a/o

4youth players represe nted
their c		 ountry
(E		 ngland
and Wales) at U		 15 and U
Unique participants 187
Average attendances at sessions and events 85
Average hours ofattendance 1,27
Number of participants from ethnic minority groups /% oftotal 7%

;:Pa'rtner: p'rirp'siy,
schoqli;, ' ';, ,		 ;:Pa'rtner: p'rirp'siy,
schoqli;, ' ';, ,		 ;:Pa'rtner: p'rirp'siy,
schoqli;, ' ';, ,		 ', Integration into communities "100%of partner schools within two miles
ofa partner
high school
Increase programme
audience		 "40partner schools
'8,000 unique
participants
Demonstrate value snd impact "90%NPS Rating —schools
Partn'ar. - '
ies'o'ndii'I'yi		 Integration into communities "17Hub areas
'4 United
Hubs
sechouts' Increase programme
audience		 '52 partner schools (12special)
*10,000 unique
participants
Demonstrate value and impact "90%NPS Rating - schools
Poet-16 integration into communities *75%pupils from highest 20% deprivation
areas
Increase programme
audience		 '1,000 unique
participants
Demonstrate value and impact '90% NPS Rating
Co'inm'uiiity;:
pro'gr'am'me'i		 Integration into communities '75% pupils
from highest 20% deprivation
areas
S Increase programme
audience		 2,800 unique SR participants
14Ability Counts Teams
Demonstrate value and impact *90%NPS Rating
Talent'"
programmes		 ' Integration Into communities '35% players
from highest 20% deprivation
,
'		 ' ', ; Increase progremmeaudience
'; Demonstrate
value and impact		 '200talentedplayers
engaged
'7 youth
intemationale

Registered Charity Number: Number: 1118310
Registered Company Number. 05845172
Registered Office: 26 Sir Matt Busby Way, Old Trafford, Manchester, Lancashire
lvi16 0RA
independent Auditors: Beever & Struthers,
Chartered		 Accountants and Business Advisors,
One Express,
1 George t.eigh		 Street, Ancoets, Manchester tvl4 SDL
Bankers: NatWest, Manchester City Centre Branch, 19Market Street,
Manchester
M1 1WR
Solicitors: Brabners LLP, Hodon House, Exchange Flags, Liverpool L2 3YL

nd Expenditu re
 A ccount for the y ear ended 30June 2 023
Unrestricted
funds		 Restricted
funds		 Total Total
Note 2D23 2023 2023 2022
6 6 6
Income and endowments from:
Donation and legacies 2 2,792,848 2,792,848 1,204,601
Charitable
actwities		 3 194,441 2,604,568 2,799,009 2,493,154
Other trading activities 4 830,824 426,876 1,257,700 2,195,283
Investments 5 75,145 - 75,146 6,638
Total 3,893,258 3,031,444 6,924,702 5,899,676
Expenditure
on:
Raising funds 6 (750,838) (427,085) (1,177„923) (1,572,811)
Charitable
activities		 7 (435,920) (3,97S,322) (4,414,242) (3,944,693)
Total (1,186,758) (4,4D5,407) (5,592,165) (5,517,504)
hist income I(expenditure) before tax 9 2,706,500 (1,373,963) 1,332,537 382,172
Taxation 9 (50) - (5D) (187)
Net income f(expenditure) after tax 2,706,450 (1,373,963) 1,332,487 381,985
Transfers
between		 funds (1,373,963) 1,373,963
Net movement
in		 funds 18 1,332,487 1,332,487 381,985
Reconciliation of Funds
Total funds brought forward at 1 July 5,789,270 5,789,270 5,407,285
Total funds carried forward at 30June 7,121,757 7,121,757 5,789,270

Note At 30June At 30 June
2D23 2022
6
CURRENT ASSETS
Debtors 13 611,87D 2,010,673
Cash and cash equivalents 9,227,479 6,673,500
TOTAL CURRENT ASSETS 9839349 8684 173
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 14/15 (2,717,592) (2,894,903)
NET CURRENT ASSETS 7,'(21,757 5,789,270
NET ASSETS 7,121,757 5,789,270
THE FUNDS OF THE CHARITY
Restricted
income funds		 18
Unrestricted'funds:
Designated
funds		 22 49,491 139,295
General unrestricted
funds		 18 7,072,266 5,649,975
TOTAL CHARITY FUNDS 18 7,121,757 5,759,270

Note At 30June At 30June
2023 2022
6
FIXEDASSETS
Investments 12
CURRENT ASSETS
Debtors 13 1,219,828 1,959,978
Cash and cash equivalents 8,468,115 6,187,735
TOTAL CURRENT ASSETS 9,687,943 8,147,713
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 14/15 (2,567,356) (2,359,460)
NET CURRENT ASSETS 7,120,587 5,788,253
NET ASSETS 7,120,588 5,788,254
THE FUNDS OF THE CHARITY
Restricted income funds
Unrestricted
funds:
Designated
funds		 22 49,491 139,295
General unrestricted
funds		 18 7,071,097 5,648,959
TOTAL CHARITY FUNDS 18 7,120,588 5,788,254

Consolidated
State
2023		 ment ofCa sh Flows for th e year e nded 30Ju ne
Note 2023 2022
f
hist income for the reporting
.year		 (as per the consolidated
statement
offinancial activities including		 an income and 1,332,487 381,985
Expenditure
Account)
Adjustments
for:
Dividends,
interest
from investments		 (75,145) (6,638)
Decrease I(increase)
in debtors		 1,398,803 (1,573,208)
(Decrease) i Increase
in creditors		 (177,311) 1,405,222
Net cash generated
from		 operating activities 2,478,834 207,381
2023 2022
8 6
Cash flows from operating activities
Net cash generated
from		 operating activities 2,478,834 207,361
Cash flow from investing activities
Dividends
and interest from		 investments 75,145 6,638
Net cash generated
from		 investing activities 75,145 6,638
Net increase
in cash and		 cash equivalents 2,553,979 213,999
Cash and cash equivalents
year		 at the beginning ofthe reporting 8,873,500 6,459,501
Cash and cash equivalents atthe end of the reporting year 9,227,479 6,673,500

une 2023
2023 2022
6
Net income I(expenditure)
the statement
offinancial		 for the reporting
activities)		 year (as per 1,332,334 381,424
Adjustments
for:
Dividends,
interest from mvestments		 (6,704) (128)
Decrease I(increase)
in debtors		 740,151 (1,331,900)
Increase
in creditors		 207,895 1,078,215
Net cash generated
from operating		 activities 2,273,676 127,611
2023 2022
Cash flows from operating activities
Net cash generated
from operating		 activities 2,273,676 127,611
Cash flow from investing activities
Dividends
and interest
from		 investments 6,704 128
Net cash generated
from investing		 activities 6,704 128
Net increase
in cash and cash equivalents		 2,280,380 127,739
Cash and cash equivalents at the beginning of the reporting 6,187,735 6,059,996
year
Cash and cash equivalents at the end of the reporting year 8,468,115 6,187,735

, INCOME A ND ENDOWM EN TS
FROM		 : DONATIO N
AND LEGAC		 IES
Year to Year to
30&un-23 30-Jun-22
8
Sponsorship 1,0DO, ODO
Manchester United donations (including Community Shield) 988,092 96,729
Other charitable donations received 159,117 214,651
Gifts in kind 685,639 893,221
2,792,848 1,204,601

Unrestricted Restricted Year to Year to
funds funds 30-Jun-23 30-Jun-22
5 g
Football 983 91,288 92,271 114,164
Community
Engagement		 281,369 281,369 226,775
High School Delivery 1,273,634 1,273,634 1,125,236
Pnmary School Delivery 344,41D 344,410 307,431
Education —Other 176,656 80,741 257,397 237,139
Disability Schools Delivery 187,233 187,233 120,157
Other grants and income 16,802 345,893 362,895 362,252
194,441 2,604,568 2,799,009 2,493,154

Year to Year to
30-Jun.23 30-Jun-22
6
Lotteries 397,309 301,097
Charity partner management 173,681 168,214
Home legends matches 888 1,446,500
FA Girls' Regional Talent Club &
Emerging
Talent Centre		 224,D03 189,820
Fundraising
AucDons		 385;732
Other activities 76,087 89,652
1,257,700 2,195,283
Charity
partner
management		 income of 6173,681 (2022: 6168,214), payable by Manchester United
Football
Club
Limited,
are restricted
629,192 (2022: 227,761) for Disability		 funds
relating
Services to		 to management
Club
within
'Other		 of the Club's
charity
activities'
are also		 partners.
treated
as
restricted funds.
Following the		 launch ofthe Manchester United Women's Team, the FA Girls' Regional
Talent Club is now managed
by the trading
company		 and is fully-funded by Nfanchester
United		 Football
Club.
5.INCOME AND ENDOWMENTS FROM: INVFSTIIENTS
Yearto Yearto
30-Jun-23 30-Jun-22
6
Investment
income received		 on cash deposits 75,145 6,638
investment
income is wholly unrestricted.
6.EXPENDITURE ON: RAISING FUNDS
Unrestricted Restricted Year fo Year to
funds funds 304un-23 30-Juri-22
6 5 6
Staff costs 183,327 48,681 232,008 339,495
Group overhead
apportionment		 363,232 69,485 432,717 208,805
Fundraising
events		 75,605 75,6D5 482,424
Departmental
overheads		 79,858 14,582 94,440 70,79'I
FA Girls' Regional Talent Club & Emerging
Talent Centre		 200,251 2D0,251 162,895
Gifts in kind 48,816 94,086 142,902 308,401
750,838 427,085 1,177,923 1,572,811

Unrestricted Restricted Year to Year to
Funds Funds 304un-23 30-Jun-22
f f f f
Football 74,331 287,656 361,987 293,515
Community
Engagement		 508,536 508,536 425,985
High school delivery 2,049,342 2,049,342 1,769,673
Primary
school delivery		 449,353 449,353 404,787
Disability schools delivery 292,204 292,204 208,762
Education —other 246,739 158,591 405,630 453,529
Covid-19 response activities 66,925 66,925 62,442
Other community delivery 47,925 232,340 280,265 326,000
435,920 3,978,322 4,414,242 3,944,693

Yearto Yearto
30-Jun-23 30-Jun-22
f
Audit fees 11,330 10,300
Taxation services 1,890 1,775
Trustees indemnity insurance 5,376 5,376
18,596 1?,451

9.TAXATION (c n tinued )
Year to Year to
304un- 30-Jun-
23 22
8
Current tax:
UK Corporation tax on income and expenditure for the year 101,539 181,748
Less: Gift Aid (101,539) (181,748)
Total current tax
Deferred tax:
Origination
and		 reversal of timing differences 41 142
Adjustment
in respect of previous		 periods
Effect ofchanges in tax rates 9 45
50 187
Total tax per income and expenditure account 50 187
Yearto Yearto
30Jun-23 30-Jun-22
Net income before tax 1,332,637 382,172
Add: Charitable exceptions (836,927) 575,149
Taxable income 495,610 957,321
Tax on pro8t at standard UK tax rate o(20.5%
(2022: 19%) 101,580 181,891
Effects of:
Tax rate changes 9 45
Effect ofGift Aid (101,539) (181,749)
Total tax charge for the year 50 187
Total tax charge for the year 50 187
The prior year figures
in		 the tables above have been amended to reflect the correct final tax figures
used
in the 2022 statutory		 accounts.
Deferred tax (assets): 2023 2022
6 6
Provision at start of year (539) (726)
Adjustment
in respect of		 pdior years
Deferred fax charge to income statement in the year 50 187
Provision at end ofyear (489) (539)

cluded
in the gifts in kind figure within the relevant
ex		 penditure
category.
Yearto Yearto
30-Jun-23 30-Jun-22
8
Wages and salaries 3,547,518 3,074,147
Social secudity costs 324,814 270,939
Other pension costs (note 20) 260,356 215,612
4,132,688 3,560,898
INonthly average INonthly average number ofemployees in the year: 2023 2022
Number Number
Operational employees 100

Year to Year to
30-Jun-23 30-Jun-22
F
544,1D1 517,509
544,101 517,509
2D23 2022
Number Number
F60,000 - F70,0DG
ETD,DDG - E80,0DG
E80,0DD - E90,000
F120,0GO - E130,GOD
E130,000 ~F140,000

As at 30 Asat30
June June
2023 2022
f 8
Charity
Investment in subsidiary 1 1
summary
of the
Trading)
Limited is		 balance
sheet
and
profit
and
loss accou
as follows:		 nt
for Manchester
United		 Foundation
As at 30 As at 30
June June
2023 2022
8
Total assets 773,491 1,875,538
Total liabilities (772,322) (1,874,520)
Net assets 1,169 1,018
Year to Year to
304un-23 30-Jun-22
8
Turnover 1,372,662 2,469,540
Expenditure (877,052) (1,512,219)
Profit on ordinary activities (before taxation
and Gift Aid donation to the Charity) 495,610 957,321

Group Chartty
As at 30 As at 30 As at 30 As at 30
June June June June
2023 2022 2023 2022
5
Trade debtors 249,626 451,164 241,642 440,500
Deferred tax 489 539
Amount owed by group undertakings 622,086 1,339,078
Other debtors 361,755 1,558,970 356,100 180,400
611,870 2,010,673 1,219,828 1,959,978

Group Group Charity Charity
As at 30 As at 30 As at 30 As at 30
June 2023 June 2022 June 2023 June 2022'
5 5 5
Trade creditors 79,556 3,536 2,131 2,377
Corporation tax
Other creditors 540,346 366,952 525,529 356,854
619,902 370,488 627,660 359,031

Group Group Charity Charity
Asat30 As at 30 As at 30 As at 30
June 2023 June 2022 June 2023 June 2022
6 E
Deferred income
School I college delivery 644,197 473,821 644,197 473,821
Community
Engagement		 28,126 17,871 28,126 17,871
Sponsorship 1,000,DOO 1,000,000 1,000,0DD 1,000,000
Inclusion programme 6,944 48,611 6,944 48,611
MUDSA programme 40,DDO 40,000 4D,OOD 40,000
Rise programme 61,700 61,700
Other deferred income 168,692 193,630 162,259 192,866
1,887,958 1,835,633 1,881,526 1,834,869
Accruals 209,731 688,782 158,170 185,560
2,097,690 2,524,415 2,039,696 2,000,429
Group Group Charity Charity
2023 2022 2023 2022
2 8
Deferred
the year		 income at the beginning of 1,835,633 872,708 1,834,869 840,280
Amounts released from previous years (1,828,689) (784,097) (1,827,925) (751,669)
Incoming
resources deferred
current year		 in the 1,881,015 1,747,022 1,874,582 1,746,258
Deferred income at the end ofthe year 1,887,959 1,835,633 1,881,526 1,834,869
eferred Income, in both the Group and Charity, represents income recewed and receivable prior to
he year-end
in respect of		 future periods.
6.FINANCIAL INSTRUMENTS
Group Group Charity Charity
As at 30 As at 30 As at 30 Asat30
June 2023 June 2022 June 2023 June 2022
E 8
Financial assets that are debt
instruments
measured		 at amortised
cost.'
Trade debtors 249,626 451,164 241,642 440,500
Other debtors 361,756 1,558,970 356,100 180,400
Amounts owed by group undertakings 622,086 1,339,078.
Cash at bank and in hand 9,227,479 6,673,500 8,468,115 6,187,735
9,838,860 8,683,634 9,687,943 8,147,713

Group Group Charity Charity
As at 30 As at 30 As at 30 Asat30
June 2023 June 2022 June 2023 June 2022
6 f 8
Financial liabilities measured at
amortised cost
Trade creditors 79,556 3;536 2 131 2 377
Other creditors 540,346 366,952 526 529 356654
Accruals 209,731 688,782 158 170 165,560
829,633 1,059,270 685,830 524,591

8.NET MOVEM ENT IN FU NDS
Unrestricted Restricted Total
income income Charity
funds funds Funds
Group
Total funds brought forward at 1 July 2022 5,789,270 5,789,270
Net incoming/(outgoing) resources before transfers 2,706,450 (1,373,963) 1,332,487
Gross transfers between funds (1,373,963) 1,373,963
Total funds carried forward at 30 June 2023 7,121,757 7,121,757
Unrestricted Restricted Total
income income Charity
funds funds Funds
6
Charity
Total funds brought forward at 1 July 2022 5,788,254 5,788,254
Net incoming/(outgoing) resources before transfers 2,706,297 (1,373,963) 1,332,334
Gross transfers between funds (1,373,963) 1,373,963
Total funds carried forward at 30 June 2023 7,120,588 7,120,588

Group
Fund balances at 30June 2023 are represented by: Unrestrictedf Restricted
f		 Total
f
Current assets 9,591,078 248,271 9,839,349
Creditors: amounts falling due within one year 1,680,972 1,036,620 ?,717,592
7910,106 788,349 7,121,767
Charity
Fund balances at 30June 2023 are represented by: Unrestricted Restricted Totalf
Current assets 9,439,672 248,271 9,687,943
Creditors: amounts falling due within one year 1,570,975 996,381 2,567,356
7,868 697 748,110 7,120,587
2. DESIGNATED FUNDS
Balance at Incoming Resources Transfers Balance at
30June 30June
2022
f		 Resources expended
f		 2023
6
Covid-19 Response Fund 101,243 (80,053) 21,190
Santa's Red Helpers 18,162 (4,890) 13,272
Mini Medics 18,895 (3,866) 15,029
Inclusive
Climbing		 995 (995)
139,295 89,804 49,491