THE MIDDLESEX UNIVERSITY
STUDENTS. UNION
(Company Ilmlted by guarantee no. 11972527
r•gistèr•d eharity no. 11834331
REPORT AND FINANCIAL STATEMENTS
YEAR ENDED 30 JUNE 2022
Rep￿tand Attwnts
KNOX CROPPER

THE MIDDLESEX UNIVERsrrY STUDENTS. UNION
(Company limited by guarantee no. 11972527. rngist8r8d charity r￿. 11834331
REPORT AND FINANCIAL STATEMENTS
For th8 year ended 30 June 2022
CONTENTS
Page
Legal and admln18tratSve Inlonnatlon
Board ofTrustees's report
Ind8pendent AuditOf8' Raport
Statsment Of Flnanclal ActSvltlo8
Balanc8 Sheet
12
C•$h Flow Stst•m•nt
13
Not•$ lo tho finan¢lo1 stst•monts
14

THE MIDDLESEX UNIVERSITY STUDENTV uM￿N
REFERENCE AND ADMTh41STRATIVE DETAILS OF THE CHARirY.
ITS TRUSTEES ADVISERS
For th8 year ended 30 Jun8 2022
Board of Tru¥t••s
J Akngba
A Arora
A CaSn
TGup
M Go*c
B hk)rrison
O Oye-Som8fun
N Relan
M Shah
J Suryavanshi
R Wi*lnson
Appoinled 1 July 2021
Appoinled 1 July 2021
Appoinled 1 July 2021
Appoinled 1 July 2021
Appoinled 14 FebNary 2022
Appoinled 30 Novèmb8r 2017
Appoinled 14 FgbN8ry 2022
Appoinled 1 July 2020
Appoinled 1 July 2021
Appoinled 1 July 2021
Company So¢T•tary
N A Smilh
Company r•g. no.
11972527
Chortty r•g. no.
1183433
R•gl•t•rod offl¢•
M￿d￿S1X Univ•rsty Slud•nts' Unh)n Th•
Hendon
Londo
NW4 4BT
Audllor$
KrKJx Cropper LLP
65 LeadeThhal Street
Lond
EC3A 2AD

THE MIDDLESSEX UNIVERSITY STUDENTS. UNhJN
TRUSTEES. REPORT
For the year endod 30 June 2022
The Board of Tru$t99$, who are atso dirgdors of the Company for th8 purpos8$ of th8
CoTnpanies Act, and trust88s for Charity Law Pur￿58$. submitth8ircombined dir8ctors' report
and trustèès, annual rèwrt and thè finanaal statements of Middleséx Univèrsity Students,
Union for the year ended 30° June 2022. The Board of Tnjstees confimis that the annual
report and financial statements of the Company comply with current statutory requirements.
the requirements of the Company's goveming doLwment and the provision5 of the Statement
of Rgcommendgd Pr8Cti¢e IFRS 102).
The Trustees confirm that they have referred to the guidance contained in the Charity
Commission's general guidan￿ on public benefrt when reviewr4J the charity's aims and
objectives and in pLqnning future activities.
Who w8 ar•
Middlesex University Students, Union IMDXSUI is an award winning independ8nl charity in
North London which supports. represents and improves the experienca ofth8 16.OOD studying
al Middlesex Universlty.
The Union's work invofves campaigns on and off campus ¢0 support Sludenls lo have a voice
in shaping their experience both al course level and within Iheir various communrties.
MDXSU are committed to helping all students make Ihtr most of their lime 81 Middlesex
University. This includes d&livering evgnls, supporting over 70 student groups lor those wilh
shared inleresls and backgrounds.. and enabling students lo gain skills and buikl their
employabilily through internships. leadership roles and devekjpment programmes.
Our locus in 2021.22 was on Ihe developmenl of a new slraiegy. which involved over 100
stskeholders., including hAIdd1￿X students, UnK)n staff, Universrty Staff, the local e(ynmunity
and extemal experts. In June 2022 we launched our new stratogy which sets out our purpose,
our ambitions and our approach to achieving Ihese. Rather than focJJsin9 on outcomes and
objectSves, our strategy is a statement of OUT values and purpose.
As a Union our purpose is lo advance equty of fwlrtunity and faimess of oulwne for our
studènts. promote eilizènship for students V•ilhin our Univèrsity and ￿￿$$ the injuslicg$
wh￿h exist in society.
In order lo achieve our purpose as an organisation. we need lo advance four key ambition5 in
our work". déveltsp student ￿aderS and ￿adetship, exèatè and support student nelworks,
promoté P051tiv6 wÈllbèing and turn knowl8dgÈ into soci81 action.
This work will be supported by an indusive aThJ innovative approach, which includes.. a
governance system which empowers studenls to shape our priorities.. a working cutture which
reflects our commitment to equity. citizenship and justice.. an innovative brand which refbcts
our diverse student body- and a dNerse range of partnerships wlh shared values who help us
advance equity, ciiizenship and justice. MDXSU'S full strategy can be found here.
How we are run

THE MIDDLESSEX UNIVERSITY STUDENTS. UNhJN
TRUSTEES. REPORT
For the year endod 30 June 2022
MDXSU is led by a team of 918Ct9d Students who are vot8d into their rol9$ by th8ir f6lk)w
stud8nts at Middbs8x Unfv8rsity, and who w¢yk fUl￿tiMe to lead the Unlon and r8pres8nt th91r
peers.
Supporting the elected Sludenl Officers is our permanerht staff team. including 20 fu114ime staff
and a number of part time student staff - as well as Ihousands ol slvdent volunteers.
All staff afe encouraged to identify Iraining opwtunilies and conlerences.. and are also invited
lo an annual all-staff residential and team away days to ensure they are equipped lo fuKIl their
responsibilities. In addition. slaff are enlilled to volunteer and wellbeing days, flexible working
and personal devekjpmenl opportuniti85.
Strueture
The Middlesex Univ8rsrty Stud8nts' Union lthe'unicffl'l is a students, union within the meaning
of the Education Act 1994. The Union is devoted io promoting the education. interests and
weffare of Its Members, students al Mwldlesex University Students, Union. tt Is the recognlsed
independent repres&ntstNe body of stu¢Jents at the University.
Until 30" August 2019. the entity was an unincorporated charity, recognised a$ a registered
charity. From 31SI August 2019 the charitsble activolies transferred from the unincorporated lo
the incorpor8led registered ch8llty in 8ccordance with the Companies Act 2006- regislr8lion
number 11972527.
Gov•manc•
MDXSU is democratically controlled by ils members through an annual e￿ctiOns, lo elect a
team ol student and non-sludenl represenlatives vtho lonn the Union's Trustee Board. The
membership of the Trusiee Board is as lolk)ws'
S Officer Trustees are ekcted in accordance with Ihe Constitution
Up (0 4 student TnJslees who are elected in accordance wth the Constitution
Up to 6 External Trustees who are appointed in accordance with the Constitution
The Board of Trustses are responsible for the management and administration of the Union
including.,
The govemance and stralggy of the Union- an
Thè ov8rall legal, financial and staffing rèsponsibilitiès of th8 Union
The Trustee Board delegates ihe daY-t￿daY management of the Students. Union to the CEO.
The CEO manages hAOXSU by implemenling Ihe policy and strategy adopted within a budget
approved by the Tru51ees.
Appolntmènt ol Trust••s
The Students, Union elected Ihe Officer Trustees and Student Trustees. whilst the Extemal
Trus¢ees are appoinled bythe ApFK)inlments Committee provided ihatthe appointmentofeach
external trustee 1$ 8pptoved by a majority vote of the Twstee Board.
oirie•r Trustèès
Up to live ONicer Trust￿ are e￿(ed by se¢￿t ballot by the Members Df the Union at an
election heid in accordance with the Election Regulations. The Officer Trustees are electe£l to

THE MIDDLESSEX UNIVERSITY STUDENTS. UNhJN
TRUSTEES. REPORT
For the year endod 30 June 2022
posts, set OLrt in the By81aws. Th8 Offir*r Tru$tè8s rgmain in offiG8 for a t8mi of ono y8ar
b8tW88n 1 July and 30 June. An Officer Trust88 ffl8y b8 re-81ect8d for a maximum further
term of onè yèar by thè meM￿TS ofthe Union but for av(xdancè of doubt, an Offieèr Trustèe's
terms of office may be either conseuJtive or non•consecutive and the maximum total temi that
can be seryed as an Officer Trustee is twenty4our months. Each oificer Trustee Fnust be a
student or an Officer Trustee at the time of their election. An Officer Trustee becomes
Mèmb8r of the Union on commencèmènt of thèir aprK>intmènt or rè-aPPOintm8nt as an Officer
Trustee. Such membership ceases when they cEase to be an OffI￿r Tnjstee.
Student Trustees
Up to 4 Student Trustees are elected by a cross-campvs balkjl ol the Members in accordance
with the Byelaws. Student Trustees rem8in in offi<Y lor two years ¢y unb"I they cease to be 8
student.
Extornal TrustO•S
Up to 6 Exlemal Trusl8es shall be appolnled by the Appolntmenls Committee whkh Is 8 Sut
commf¢lee ol the Truslee Board. Extemal Twslees remain in office for a term of up to 4 years
and may service 8 maximum of I￿￿ lems which may be either consacutive or non-
consecutive.
Pollcy Maklng
Policy is sèt by thg Twstg9s and tho exgculive ¢ommitt99, by a Rg1gfen¢Jum or at thfr Annual
General meeting.
The Officer Trustees work alongside Ihe pemianenl UnM)n staff to implement and carry out
the strategy and policies sel by the Tnjstee Board. The permanenl staff learn is managed by
the CEO. who is directly accountsble lo the Trustee 8oard, for Ihe Un￿n,$ porfoman¢e. The
CEO works closely with thé Offic8r Trusteas to advis• thém in r8lation to policy, strategy and
budget.
Staff Structure
The CEO Is head oflhe staff team which ts split into Membership and Operations. Within these
8rÈas thèrè aré S dèpartmènts, which are..
Advice & Wèllbeing
Communications & Marketing
Incorne & Partnerships
Ne￿OrkS & Social Action
Student Leadership
Each of these departments has a pem8nent managtrr with responsibilty for dtrlivering on the
key targets and objecllves in each ol these areas.
Funding
Middle5ex University is the main fundei ofthe Students. Union. The rewrrenl subvention from
the main funder Is agieed on an annual basis.

THE MIDDLESSEX UNIVERSITY STUDENTS. UNhJN
TRUSTEES. REPORT
For the year endod 30 June 2022
The Stud8nt$' Union r9¢eiv9$ a Small p8rcsntage of inrx)me from commarcial activiti8s. Th9
comm8rcial activltl8s gen8r8t8 lunds through media sales. swisorshlp and oceaslonal event-
based activiti8S.
Financial review
The Union's gross income for the year to 30° June 2022 wa5 £1.361,143. Thls Included the
8nnu81 block grant from tho Univèrsity of £1,246,555, an èstimated value of the servieèd
accommodation provided by the Universrty 01 £52,250. and reslricied club arbd society income
lotalling £22,268.
Total expenditure on all activities was £1.219.91)3. meaning that the Union made a surplus for
the year of £141.240 on ordinary activities.
P•n8ion Scheme O•ficSt
The Union participates in Ihe Student Union Superannuation Scheme ISUSSI, which is a
defined benefit scheme whose membership consists of employees of students, unlons
throughout the country. Wilh effect from 30° September 2011, SUSS Closed lo further bfrnefil
accrual and all parts"cipaling unK)ns are reouired lo make annual deficit conlribub.ons which aro
expected to eliminate the deficit by 1. October 2035. The most recent valuation ol SUSS at
30 June 2019 showed asseis of £119.1 million and liabilities of £260 mlllion, a funding defidt
of 460k.
The accounts demonstrate the lull impact of the pension's deficit proVis￿n under FRS102,
wh￿h means the Union has to show prowsion lor our proportion of the above funding def￿1t.
Oue lo paym8nts throughout Ihe 2021-22 year, our SUSS liath'litses have decreased to
£2,315,956.
Rlsk managèmènt stst•m•nt
Risk management Is the responsibility of the Tfustee Board. The seniormanagers of the Union
have delegated aulhority lor identsfying the risks lacing the organisation anol reporting these
lo the Truslees as they arise in relalion lo iiems ol business at the Board. In addition, the
senior managers provi¢Je Ihe information lo enable the Trustees lo undertake an annual
review.
The Trustee Board examines th8 major strategic. trwjsiness and operat￿nal risks which the
Union laces on an annual basis. The Trustee5 confirm Ihal syslerns have been established lo
ènablè regular reports to be produ¢ed $0 thal the necessary steps ¢an be tsken lo kssen
th8sè risks.
How the year went11" July 2021- 30" June 221
During the 2021.22 year, as the world recovered from the effects of COVID, MDXSU
transitioned Irom workirrfJ almost entirety remolety to hawng more of a physical presence on
¢ampus. This transition resulted in the organisation tskn.ng a hybrid approach to working. wrth
staff working both remolely and on campus. Throughout the year, staff worked on campus at
least one day a week with the resl oftheirteam, atthough worked more days on campus during
busy periods. In the summer of 2022, this increased to working on campus three days a week
to en5UTe the organisalh)n could offer a physical seNce to students.

THE MIDDLESSEX UNIVERSITY STUDENTS. UNhJN
TRUSTEES. REPORT
For the year endod 30 June 2022
Through(xrt th8 y8ar MDXSU f(￿￿$$d on offering cffib"nu9d support for $tud8nts impact8d by
th8 pandemic. This included off8ring a rang8 of hybrid athvity for students to engage with and
working collaborativèly with the Univetsty to ènsurè 1ntémab.onal studènts wèrè supportèd on
their arrival through wellbeing ph)ne calls and food packages. The Union also SUPPOrted 396
students with academic issues Isuch as exienuating circumstsnces. academic integrity and
academic misconducll through the Advice Service.
The 2021-22 year was a crucial time in MDXSU'S strategy development. which culminated in
the strategy launching in June 2022. Throughout the year MDXSU engaged with over 100
stakeholders. including students. Union staff. University staff. members of the local community
and extemal experis. Alongside Ihe stra¢egy development. MDXSU undertook a governance
review whiGh resuhed in recommerKlalions tKing implemented in the 2022-23 year, and 8
rabrand which was launch811 ak)ngs¥Jè the new Strat￿Y.
There were s8V8ral priority projects which were oJmpleted in 2021-22. The organisation ran
a hybnd Welcome Programme lor a four week period in September an¢J Oclob8r 2021. with 3
mixture of online and on campus adivity. In total there w&r& 89 events. of which 55 were run
by or on behalf of MDXSU'S sludonl groups. Such aclivib.es le<1 Its 1369 new student group
memberships taken up over the lour week period. As a democratic and sludent-led
organisation. an annual eleclKJn is organised where students can elect representatives to act
on the issues that 8ffeLI their student experience at University. In February 2022, Sludenl
Officers, Sludenl TrtJst¢$$ and Student Group Leaders were elected via Secret ballot. The
Union's election activity was promoted by on campus stalL8 where Union staff encouraged
students to vole. There was a 600A increase in candidales running in the e￿CtionS lor Student
Officers and Student Trustees, atthough a slwJht deC￿aSe in vot8r tumut. The final priority
project was the end ol year MDXSU Awards whth Ce￿brated students, student groups and
studeni baders. The Awards received 8 total 01394 submissions 8(yos$ 11 award cat&gtsri&$,
wh￿h winnars announc8d at an in-parson c8r8mony in cantral London.
K•y manag•m•nt pay
The sakiry for key managemenl is decided by Ihe Trustees taking into accounl the skills and
experience require(I, the management restK)nsibiliI￿$. the overall budgel conslrainls and a
view ol wh8t 1$ 8ppropriatg as compare(I to simiLqr roles in Ihè sècior.
Tru8t••s' responslbllltl•s stal•ment
The Trustees Iwho are also directors of m￿d￿se¥ University Slvdents. Un￿￿ for the purpose
of company lawl arè rè5ponsiblÈ for preparing thè Trustees. rèport and the financial
stst8rn8llts in 8¢£ordancè with thé atvlicabl8 L4w and Unrtèd Kingdom Accxjunting Standards
Iuniled Kingdom Generalty Accepted Accountsng Practice).
Company law requires the Trvstees to prepa￿ financial statements for each financial year.
Under company law the Truslees must r￿t approve Ihe financial statements unless they are
satisfied that they give 8 true and fair view of the state of affai￿ of the charrtable company and
ol the incoming resources and application of resources. including the income and expenditure.
olthe charrtable company for that period. In preparing these financial statements, the Trustees
are required to..
Select suitable accounting Fdicies and then appty them consistentty.,
Observe the methods and principles in the Chartties SORP.,

THE MIODLE$$EX VNf¥ERSfTY STUDENTS. IJI¥)W
TRUSTEES. REPORT
For th•y•w •Thd•d JOJUM 2022
Pr¢paro ihe finanoal statements ￿ Iho corK•rn ba515 unkn51 tt li in•pw¢yiale
io prB$ume Ihal the cknarilth CLYnpany¥MI l￿￿tinUe moperall￿.
The Trustee$ ¥6 rospthwblB lor knop¥YJ ¥d8quai8 acttyJnbng Itsl wo Io
and th• dwrfabla e(ry•rrfs tran$8(aK￿¥ dtsc*)se reasonable
8¢GuraGy al any ￿me the Ikorwl pos*w ol the chantab* wi)pany arKI enablB them ¢0
ensur* th* the $tstèm•nts thfr corr0￿5 Act 2￿6. Thoy aro 8ts0
sponSib￿ for 6alq9uardiry the a5se15 of tho co¥npany *wJ hence for l•kwy
Bsonabkn stop$for thp kYoven1￿and thle(IK•) *NJ th¥¥reuubDbe$.
nantial In1￿M￿￿On Inctyjded L*arilabbJ LyXnp8n￿1 %%*b*iv. Legith1￿ m th¢ Vniled
ngrtthgovemin9 tho ￿8p*8i￿n aThJ dis$￿In*￿￿oIffin8n¢￿ 5wemwls rn4y drfferfrom
Dli¢lMur• ol Inlowmatlon to wdlt•w¥
E8¢h ofihe wisons 8re Tntsieosffj Twsleo&' rèwt ¥J aptytr•*d
nfirrn•d thBI'
So l* as Ihai Trust•• 4 8ww•. Ih•r• rè Tr) rlknV￿ *rformatbJn of th
ch•riirt4 cfmp9n￿* •udrtry¥ w• urww•. and
Thai TrusM• thk8n 4 the ￿p$ ihai ¢xJ9ht b h•vo b••n takén ￿ a TNIts•
tyd•rtob• •nyle￿want audrt rforrnalbjn to aiiabbsh that
comp￿5 ar0￿r0 oflhai inl(XrnOlKyi.
ShshK T￿
Dal&

THE MIODLESEX UNIVERsifY STUDENTS. UNION (wlste￿I c¢)mpany no. 11972527
DEPENDENT AUDITOR'S REPORT TO THE IAEMBERS OF
THE MIODLESEX UNIVERSITY STUDENTS. UNION FOR THE YEAR ENDED 30 JUNE 2022
We have audiied the financial $￿t￿ments of The ￿l￿d￿seX University Students, Union Ilhe '¢harilabl8
company'l for the year endecj 30 June 2022 whK* comprise Ihe Sta18menl of Finan￿al Activities. the B818nce
Sheet. the Slalemenl of Cash Ilows and Th)les 10 Ihe finanual stsiements. induding a summary of signrficanl
accounting policies. The fina￿181 ￿porting Iramework thai has been appli8d In Iheir preparation Is applic8bl8 law
ond United Kingdom AcwJnling Standards. indudiThJ Finanoal Reporbng Stsndard 102 The Financial Reporting
Standard appht2ble In the UK and Republic ol I￿land Iunited Kingdom Generalty AccÈpt8d Accounting
Practice).
In our opinion, th8 financial statements..
give 8 true and lair view of the slate of the thail18b￿ companl5 affairs 88 at 30 June 2022 and of it5
Income and expenditure for the year then e￿e￿."
have boon property prepared in a¢Q￿danc• *￿th Unilgd ￿ngdoM Generalty Attopled A¢￿untIng Pra¢ti¢e.'
and
have been prepared In 8ccordar￿* with Ihe requlrements ol Ihe ¢¢>npanb$ Aci 20fJ8.
Basis lor opinion
We conducted our 8udil in 8ccord8nce with In18rna￿Tr8I St8rthds on Audiling IUKI IISAS IUKII and applK8ble
law. Ihr ￿sponsibl11￿eS under those stsndards are further descriw in Ihe Audllor's ￿pOnsibIlItIeS for Ihe audit
of the financial statements sects.on of our report. We are Indepe￿ent of the charitable ¢ompany In accordance
with the alhical requirements that are rekvant to our audit of the financial ststements in the UK. including the
FRC'S Élhi¢al si8￿8rd, and we have lu￿￿1*Y our olher ethical r8swi$ibilili8s in a¢cordan¢8 with these
requirements. We bdieve Ihat Ihe audrt evidenc8 we have obtsined is sufficient and appropriate lo provide
basis for our opinion.
Concluslons relatlng to golng concern
In auditing the financial slalemenls. we have ¢C￿uded thal the Twsle8s' use of the going concem bas15 of
occounting in lh8 prepara￿'On of the finanoal s￿￿m•￿t$ 15 appropritite.
Based on lh8 work we h8ve performed. we have Th)t id8nlrf*d any rnat8ri81 uncertalnties reLqlng lo events or
conditions Ihal, individually or wle¢iivety, May cast significant doubt on the ¢hari¢8ble ¢ompany'$ 8bility lo
continua as a going concem for a period of at 18asl months from ¥vh8n the financkql statements are
aulhorised lor Issue.
Our responsibihties And reSpon*bilit￿$ of the TruS￿e8 with respect to goh)g ¢x)ncem are d&$cribed in the
relevant sections of this ￿port.
Other Infowrnatlon
Th8 other Infomiatson comprfses Ihe inforniatr.C￿ inchjded kn Ihe annual report, other than Ihe flnancSal
$lalernent5 our au¢Jitorfs reKvl tI￿reon. The tyu5tees are respOn*b￿ forthe olher inforTnaDon.
Our opinion on the financial stslements does Thjl cover Lhe other Mforrnaticffj and. except to th8 ext8nt otherwise
eX￿1¢1￿Y Ststed in our repcrt, we do not exp￿$$ any fcTh of assuran￿ ¢ondusbn thewn.
In connethon ￿1h our audit of the finanoal slatements, our resp(￿SIbilIty Is to read the othèr informatKJn and, in
doing so. consider whether Ihe other informahon 15 tnatenalty itwn5iStent wth the financial ststernents or our
knO￿edge obtained in the audit or olherwse appears to be malerialty misslated. If we ￿￿ntIfy sueh material
inconsi5tencie5 or apparen¢ malerial mi5Stalernenls. we are required to deterrnine whether there is a Tnaterial
misstatement in the financial stalemenL8 or a material misststement of the other infomiation. ff, based on the
work we have performed, we conclude Ihat there is a material misstalemenl of thi5 olher infcyrnalion. we are
required to that fact. We have nothing to ￿r￿)rt in thi$ regard.
Icontinued ...

THE MIODLESEX UNIVERsifY STUDENTS. UNION (wlste￿I c¢)mpany no. 11972527
DEPENDENT AUDITOR'S REPORT TO THE IAEMBERS OF
THE MIODLESEX UNIVERSITY STUDENTS. UNION FOR THE YEAR ENDED 30 JUNE 2022
Icontlnuedl
Opinions on other matters prescrib8d by the Companies Act 2006
In our opinion. based on the undertaken in the course of the audil".
the information gNen in the Iru5tee5' report. whKh inctyjdes the directcrfs. ￿port prepared f(xthe purp05e5
of company law, for the finanri81 y8arlorvthith Ihe finanf#81 statements are sYepar8d is consisl8nt ￿1th the
financial 5ts1ements.' and
the dir8clors' reKK)rt In¢luded wlhin the Iru$te8$' rwrt has twn p￿pared in a¢t>ydan¢e with applicable
legal ￿quIrernenls.
MattErs on whlrh we are requlr¢d to rvport by exGeptlon
In the light of the know*dge and underslanding of the charitabK8 company and its environment obtsined in the
course of the auoii, ￿ have not Kkntsfwl mawnal missiatements ￿ Ihe directors. report include¢J ￿thIn the
tW51ee5' report.
W8 have nothing to rewl in re5FÉCt of lh8 f￿￿1￿.￿9 rnatt8rs in relation to whith th8 Companies Act 2006
requires us to report lo you if, in our O￿nIon..
8d8quale accounting records have not b88n kapl. or r8lums ad*]uat8 for our audit ha¥8 not been
recoived from branches nol visiied by us; or
the financial siaiements are nol in 8greemeni ￿th the Occounting record$ ffjtums.. or
certain disclosures of Iruslees. remuneration specified by law are not made.,
we have nol re¢eive¢J all the Infomation and e¥ptsnaiions we requiro for our audil.
the Iruslees were nol enliU8d to prepare the financial stalements in accordance with th8 8mall companle8
regime and take advan￿ge of the small ¢(mpen￿. e¥eftwn8 in preparthg Ihe yustees. report and from
the requlrement to prepère a strategic reFQrt.
R••pon•lbllltl•• oltru$t•
As explained more fully in the trnstees. resp)nsibilthes ststement In the Trustees. Repor¢ the trustees (who 8re
also Ihe direc￿r$ ol Ihe ¢haritaW company lor Ihe purwse$ of Company lawl ore ￿spOnSible for the
preparatson of the financial sialements and for beiThJ sats"sfied that Ih8y give a true and fair view, and for 8uch
internal control 85 the Irusiee5 delerrnine 15 n8cessary lo enats￿ ihe preparalion oi financial slalemgn15 thai are
free from material mlsslalemenl. whether due lo fraud ￿ error.
In p￿parIng the financial st*ements. Ihe IW$t￿ are ￿pOnSi￿e for a$se6$ing Ih¢ thantsble wmp8ny's ability
to wnlinue as a c￿Ce￿. disd05ing. as ap￿ICab￿. rnatters rekleij to gDiry concern and using Ihe going
eoncem bos1$ of aC￿ntIng unless the Irus￿$ eilher Intend to ￿U￿¥te the ¢h8ritabk Compgny or ¢0 Cease
cperation&. or have no realist"c altemalwe but to do so.
Audi¢orf$ r¢$pon$ibilill•s for th¢ audi¢ finan¢ial $tst¢m¢nts
Our objectives are lo obtain reasona￿ assurance atKJul ￿elher the financial ststements as a whok are tre8
Irow rnalerral mis5tsteTnenl. whether due lo fraud ov error. and lo issue an audilor'5 report thal incluoJe5 our
opinion. ReaSon2￿e assurance is a high ￿e1 of assurarte. bul is Th)t a guarantee that an audit conducted in
acth8nce with ISAS IUKI will a￿ayS det8Ct a rnaterial misstatem8nl *then il exi51s. Misstatements can arise
frow Iraud or error and are considered tnatenal if. indwHJualty or in Ihe aggregate. they could reasonably be
exp8ct8d lo influence th8 8ts)nomic decisk)ns of users taken on the basis ol Ihese financial stal8m8nls.
Irregularities. induding fraud. are instances ol nOr￿complan￿ *ilh LgwE reguLgtions. We desun procedure5
In line wlh CAJr re8pon%biliiies. OU1￿ned atK)ve. io detect material misstatements in respect of irregularits"es,
induding fraud. The extent to which our procedures are capable of 4Jetecting i￿eguLar1tie5. including fraud 15
detailed b8bw.
Icontinued ...

THE MIODLESEX UNIVERsifY STUDENTS. UNION (wlste￿I c¢)mpany no. 11972527
DEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF
THE MIODLESEX UNIVERSITY STUDENTS. UNION FOR THE YEAR ENDED 30 JUNE 2022
Icontlnuedl
We obtsined an understanding of the ￿1 and reguLqlcxy frameworks that are appl1rA￿e to the charitable
company and determined thal the most sgnificant are the Statement of Recornrnended PractKe'Accounting
and Re￿Ing by Charities. ISORP 20191, in 8cLord8nce vAth the Financial Reporti￿ Slandard applic2b￿ in
the UK IFRS 1021 applicable to srnalkn enblie5 and the CoMpan￿S Act 2006.
Wè understood how the charilable company is Comp￿"ng ¥vilh tMs8 frameworks communiG3lion with
those charged govemance. logelher wih the revw of the charty's documented policie5
VOC8dures. The CharItsb￿ company is required 10 Comply%￿lh both company k8w and charity Lqw and,
based on our knowl8dg8 01 its activilies. we ￿en11r￿d that Ih8 Wl r8quif8m8nt to accurately accountfor
restricted funds wos ol key signrfican¢e.
Th8 audit team. which is experienced in the audil of charilies. COn￿ered the charitys 5U5C8ptsbih'ty to
matorial mi$stsloment and how fraud may 0￿r. Our con$*eralions Induded risk of m8n8gemenl
OVe￿ide and allocabon of c051s lo charitable acb¥ritss and restricte¢J fur￿5.
Our approach was to check that the income from grants and donali)n5 wer8 proFerty ￿entifIed 8nd
accuralely disclosed, that gxpendilur* c(xnpli&J ￿¢h the cMtrc4 procedures and was appropThalety tharyed.
We also reviewed the major ioum81 adiuslrn8nls akjng wlh unusual tran8a¢tion$ and ¢on$idored the
Identiflcaiion and diSck)su￿ of relatsd party transaetK)ns.
A further description ol our re5pon5ibihti85 for lh8 audrt of the fin￿￿la1 5ta18m8nt5 is k)cat8d on the Financial
Reporting Council's w8b8lte al..
This deBeripknn foms p8rt of our
auditor's reporl.
U•e of our roport
Th1$ roport Is m8Ll0 sc*ty lo th? ¢h8rltsbk wp8ny's mgmbers. 8$ a body. In a¢￿￿￿nce %4lth Chaptsr 3 of
Part 16 of the Cornpanies Act 20C6. Our aLKlil work has been undertakgn. so Ihal we mi9hl state lo th•
eharilable company's memb8rs those matters we are required lo slate lo them In an auditor's r?pcht and for no
other purpose. To the lulksl extenl perrnitted by law. we do nol accepl ¢x a5surne responsibility lo anyone other
than the charitable company and the ¢h8rrt8bk o)rwny $ members as a body, for our audit work, for th1$
report orlor the opinion5 we have lormed.
Shoaib Arsha
ISenh?r Slalutory Audilorl
For and on behaw ol.
Knox CroppBr LLP
Chartered Accounlants & Slatulory A￿rtl¥S
85 Leadenhall Street
London
EC3A 2AD
28 March 2023
Knox Cropper LLP Chart8rted Accwnlanls is 8ligib￿ lo aci 88 an auditr* in temis of sectK)n 1212 of the
Cornpanies Act 20
10

THE MIDDLESEX UNIVERsrrY STUDENTS. UNION
STATEMENT OF FINANCIAL AcTIV￿lEs
Ilncorporatlng the Income and Expendmure Account)
For the year ended 30 June 2022
UnrestrlGted Restrlthd
Funds
Funt16
2022
Totsl
Funds
2022
Tol81
Funds
2021
Not•
2022
hNCOME AND ENDOWMENTS FROM:
Oonalions and ￿98¢18S
1.298.805
12.724
27.339
1,298.805
34.992
27,339
1,168,592
18,467
38.563
14
22.268
Other tradlng activitses
Investments
TOTAL
1.338.875
22.268
1,361.143
1,225,636
EXPENDThURE ON..
Charilabk aclivitios
TOTAL EXPENDITURE
Nel IncomelExpendilure
NET MOVEMENT IN FUNDS
1.202.459
1,202.459
136.416
136.416
17,444
17,444
4.824
4.824
1,219.903
1,219.903
141.240
141.240
1.968,937
1.968.937
(743,3011
{T43,3011
RECONCILLATION OF FUNOS..
TOTAL FUNDS AT 1 JULY 2021
(2.209.285)
35,760
{2,173,5251 11,430,224)
TOTAL FUNDS AT 30 JUNE 2022
2,072.869
2,032.285
2, 173,525
11

ThEIIP)OLeSEXVN￿E￿Slty ¥TUDENTS'UWION
Companylimi￿￿ bygvaranlw cwnyrn. I1972￿￿
BALANCE 8HEET
Al •iJo Jun•2022
FLXEDASSETS
T￿lb￿ asm
10
CiIRRENT A89ETS
Strrtks
52,4
235,151
s¢.y$i
174733
246.•IT
REDifix¥.'
¥JMhln On•￿•r
12
NETCURRENT AS3Ef8
214.219
TOT￿ ￿￿ET3 LÉ¥1 CiKIAÉIIT
LL•JILrriES
J,871
216.OJ6
REprrgR$.. aiiih*Ml*
ftwon•y•¥
13
f2.J09.J6iJ
TOTAL MeTU4A
¢ 2.Y71S25
FUNDS
O•$w*t•d
G￿er¥I rw
Is
is
11315.9%>
243.017
12.072.819)
40.804
.38k.561)
180.2Te
15
2.032.2
2.Y73.52J
12

THE MIDDLESEX UNIVERSITY STUDENTV UNKIN
CASH FLOW STATEMENT
For the year endeil 30 Junè 2022
2022
2021
Ca$h flow$ frtsm Oper¥￿￿9 •cthttks
Surpluslldeficitl for the financial y8ar
Adiustrnents for".
D8preci81ion
Illncrea5el)Idecrease in 51ocks
De¢reasellin¢reasel In debtors
IID8creaselWincr88s8 in r*editC￿8
Investrnent incorne
141.240
1743,3011
2.140
12.9831
1.253
182,0861
9,761
4.316
111,0411
827,602
59.557
87,323
¢•$h flaw# from Inv•stlng actlvltl•$
Purchase ol Intangib￿ fixed assels
Retum on investment- inloresi receivabl&
13.1431
17201
14
17061
13.1361
Not In¢r•as• In ca•h and ca•h wufvalent•
56,421
86,617
Cash and ￿$h equiv8knt$ al 1 Juty 2021
178.733
92,116
C••h •nd u•h •qulv•knnt• •t 30 Jun• 2022
Compon•nt• of ¢a•h •nd u•h •qulv•hnt•
1Juty
2021
At 30 June
2022
Cashnows
Cash al bank and in hand
178,733
56,421
£ 235,154
13

THE MIDDLESEX UNIVERSITY STUDENTS. UNION
NOTES TO THE FINANCNL STATEMENTS
Forthe year endBd 30 June 2022
ACCOUNTING POLICES
Basls olpr8parallon olllnanclal stst•m8nts
The finanual siaiemenis DI the tshanly, which is a public btntsfft under FRS102. have pr&p8r&d
under the historical c05t convention. They have been preparEd in ac(x)rdance %Mth appIrab￿ Ljnited
Kingdom accouniing standards. lh• r•Ouits￿nts of th8 ststsmtrni Of Rècommended Prac1￿ AccouniirKJ
and Rewrtsng by Charibes, ISORP 20191. In accordwce *i¢h Ihe Financial Rewrung StanLlard 8pkq1c&￿e ID
Ihg UK IFRS 1021 applicatle to sMal￿r entil￿S (under section1al and COfflpan￿S Aci 2006. The
presenta1￿n81 currency ¢1 the financkql sialem￿lS 18 Ptyj￿ SlwhrKJ (£1.
Golng Con¢wn
The charty has nel liabilities of £2.032.28512021.. £2.1n.5251 due to the rec¢gnffjon under Charrbes SORP
IFRS1021 ol the nei Pftseni vahJe ￿ Ihe fund￿9 def￿11 on the SUSS pension re￿very pL8n. Further
Informal￿n is delaikd in nole 14 of the accounts. Th15 Is a ¢em comirfn*nt whth end5 In 2033 8nd
the tru$ie8s are confident Ihai the annual payment$ tyiard$ this bB mel of InrA)me e8ch year.
Aftér maklng enquiritrs, Ihtr tru$i¢os have a r¥osonabb *ywtation thai the ¢h8rity has adèquatè tssourcès
lo conunue 11$ act5vi￿e8 lor Ityeseeab￿ Iuiur8. Acwdingty, they conts.nue 10 adopi the gthng COn￿M
besis In prep8rlng the fin8nclo1 $tale￿nts 8s oullned Slatement of Tru5te8s' Responsi￿lIeS In Ihe
Annual Report.
Company SieiU8
The Middksex Universty Siudent8' Unhtin 18 a cowy limrted by guarantse. In tha event of th? Chanty
being w(KJnd up, the I8kM'I'ty in rtrspeaoffv £1 perm•h*¢rof th• Chjrity.
Fund•¢¢¢+unNng
Sluden15' Ull￿n admini$i•rs •nd •¢¢wts for a Mum￿r01¢h￿r4tyk￿ lurKls, •$ lolk)ws.'
Un￿51￿¢184 Funds repres8ntThJ ungp8nt Ir￿emS *hKh may ba u8•J for any activtylpuwse at the
Trusiee$' own disct&lion,'
Re51rlcled lunds relsed 8ll¢J 8¢Jmin15tered by Ihe UThon lor speclfic purposes a5 determlned by sludenl$.
such as C￿b and So¢￿1￿&8 Acceunts, as wdl as revenue received for purpo￿ spe0￿￿ by the donor and
also (if not rnoleri81 enough to require 8 separate cokjrm in Ihe SOFA) any sm81 c8pW grants received from
Ihe School.
Designated Funds lor the even￿?1 replgcernent of eqUiw￿nl the UnH)n 8ntsapales needing lo
cover from its own funds and a devebpft*ni rund 10 SUPFM)rt Unth infvasiiuciure impro¥en*nts.
14

THE MIDDLESEX UNIVERSITY STUDENTS. UNION
NOTES TO THE FINANCNL STATEMENTS
Forthe year endBd 30 June 2022
Income
All Income and capiial re$our¢&s are r6co9nised in accounts Ihè Stud&nts' un￿)n 1$ bgally enirfed
lo the incorne and the aThounl can be quantifieil %Mth reasonab* certainty The University grant of fvee
$eNl￿d accornrnodalK)n on the cary)us is acrA)unled for as in￿rne arKI expenditure of the year ai an
eslimaiad valut 10 MDXSU by rtference ￿ the a*8mabves avaiL9b￿ on the ￿n￿rela1 m8rt?1.
Gr8nls re￿1Ve￿ are credited 10 Sncome accU￿l￿g lo th8 peri￿ 10 which Ihey r818ie and traatsd as
unr8slricled unkss restrictions are spe(xfied by Ihe t￿0￿der rek4bng to spending of that incomB. in which
C888 ih8y 8re Ireatsd as re8incied.
Income from Iradiry aGtivite$ incWe5 arrrtwnts received in excharye supptying g¢)(KIs and 59rvice$
through the Union's b8r, &818rfng, gym and re￿11￿1￿8. *ilh 8rrthnts rewnised b8s8d on th& d8t8 of sab.
Club and so¢Wlus' Intxm InthJdBs Mgmi￿r¥h1p arKI $porwrshlp 1$ as rg$lrthd.
Exp•ndlluf•
Expenditure is acuu8d as $ottn as a h'ability is 1x￿￿K18rOd probabb, dIsrAun1￿ lo present ¥BkJe for kingor
term labillies. Expendrture Indude5 Irrecoverabk VAT and Compris￿ Ihe direct and indirect costs of
delivering publiG benefil. G¢>vemance r05ts ￿ Ihose incurred compliance with con5ti1ulional and
$thlulory r8quir8mtrnls, such as th8 annual audil. amu4 6knlK)ns and Irainino for sabbaiital officèrs.
Other central ovethead costs. as wel a5 9￿ManCe costs. are apporlN)ned to charitabb and other
proi8clslaciwilitrs on a usage basi¥. pro raia 10 total costs of è8ch w¢iticl or8Ctivily undertaken.
Tanglbh Ilxodasseis and deprnclatlon
Fixe¢J assets are siaied al cost K9ss accum￿18￿ loprecBliw. A66el8 are rkil capitalised beb)w £500 cost
per ilem1591. Equipm9nl. fixlur9s an(J fiits'ngs are in¢lJded at C05t. Oeprwation is provKled al Ihe foll¢iwing
annual ratas In oidéf lo wrrta the cosi of a￿ts ￿ over th61r astsmatad u8abJl hY68.'.
Flxlures and Frtungs
Compuler 8nd Office Equ1w￿l
33% per amum on cost
33% per annum on cost
T6mkln•ifon b•n•llts
Teminaiion benefits are accounted by lÈgi%laiion. by tontractual or other
reemenls wlh empbyees to rnak? paymenls Icf prwde olhor ber￿fits] io 8rrph)y085 when Ihe Union
lerminales Iheir 0Mpb￿l.
Loas•d ass•ts
Rentals payatle under operotsrvJ ka5es are tharyed a5 expendi¢ur¢ 0 straighl I'ne bo¥5 over the period
of the ￿88￿.
15

THE MIDDLESEX UNIVERSITY STUDENTS. UNION
NOTES TO THE FINANCNL STATEMENTS
Forthe year endBd 30 June 2022
stock
stock ts valutd ai the ofts CO￿Or n81 It81is8bb val￿.
Debtoiy
Tradtr and olher debtors are recognised ai the s￿￿ment aft￿nI dL* after 8ny trada dL8couni offared.
Prepayments are vakjed at the ar￿￿1 ￿epa￿ net of any trade dtscounts due.
Cash al bank and In hand
Cash al bank and cash In hand inckjdes tAsh short term hvJhbf Iwuid inveStr￿n1$ with a short tnaknrity
ol thr88 rnn￿8 or kn Irom the d816 ofacquNbon uopeniryJ of the de￿1 or siftNLqr actsjunl.
Crnditorn •ndprtsvlslons
Creditots and provis￿rn8 aft r8ct¥Jnis8d vthere Ihe th8nty has a pre8enl oblKja￿ resu*ing from 8 past
event that will probabty re5vh in the transfer of funds to a Ihird party and Ihe arrwnt due lo setde the
obligation can ba masured ¢1 esbmaiéd reliabty. Crtdknl$ 8nd pmvi8v)ns ara nom)ally racognl&ed ai thair
selllem8nt amount after allowry lorany trad8 discounts du8.
Flnanclal In8tmmont8
Thtr charity ho￿$ onty finanutsl osse￿ and financi$l IkotslitiÉS of a kiNI Ih81 qualify a$ basic financial
Inytrumenls. Ba￿¢ nnanoal inslruments Include cash debtors and LYedilrYs. Debtor8 and credllors are
inltially recc•3ni50d at trqnsaction vakn and subs•quonty rNJa¥ured al lair Va￿0. Ca¥h Is c4sh 81 bank and
In h8nd.
P•n¥lon¥
The Chanly operate5 a definel cwlributson pensk)n xheff& and Ihe pensiw ch8rge represents the
amounis Payable by the Ch8rbty to the fund In respect ol the ¥*ar. Contribu￿c*18 are 81 the ra￿ 013% for the
emph)yer and 30k for Ihe empwe. Pen￿0￿& costs 8re charged in the peTrJd In tha S8￿rIeS to which
Ihey relale are payable.
Judgemenls •ndhey sources olesllrn•kn uncert•lnty
Judgerrenls and key ￿r¢85 o1851imallon uncertainty are deialkn In Ih? above aCcoun￿r￿ Wh"C￿3. wh8r8
Èpp11tsb￿. The key SOUT¢eS ol estimat￿n uncerfainty have a 8KJnific8ni effect on Ih8 amount&
recognwd in ihe financKg1 sial8m8nls a￿ that of Ihe SUSS p8nsH)n 8theff6 def￿1. A dwounl r818 of 2.6%
12021.. 2.6%) ha5 been used in line wilh irxlu5ty 51arKlard5.
16

THE MIDDLESEX UNIVERSITY STUDENTS. UNION
NOTES TO THE FINANCNL STATEMENTS
Forthe year endBd 30 June 2022
2. DONATIONS MD LEGACIES
ljnrtslricted
Funds
2022
Rgstrf¢ted
Funds
2022
Totsl
Funds
2022
Total
Furtd&
2021
Unlvarsity Bbck Grant
Grant of ser￿￿e￿ accorrfflr￿ab0Tr
1.246.555
S2,2SO
É 1,298,805 £
1.246.555
1.116,342
S2250
52,260
Nll É 1,298,BOS £ I,t68.592
C¢)mpar8iiv• donaiion$ •rtdlty#¢
Unrestrycl60 Reslncled
Fund$
2021
Tot81
Fund
2021
2021
UniverstyBb¢k Gr8nt
Granl O188Nced8CCOnWF￿d81iOn
l.Ylfj.342
52.250
£ 1.168.592 £
1,11fj.342
52,250
£ 1, 168.592
3. INCOME FROM OTHER TR￿)ING AcThirriES
Unr•slrf¢tgd
Funds
2022
A￿¢rIcted
Fund•
2022
Totsl
Fund8
Tol81
Funds
2022
2021
M8r*etlng 8nd swn8orship
er Income from actlvttles
22.228
5,111
27.339 £
22228
5.111
Nll e 27J39 £
12.266
26,297
38.563
Comp•r•lfve In¢om• Irorn ollwlrndlnq Kllvth¥
R•sfrY¢
Funds
2021
rot81
Furtds
Funds
2021
2021
Mat*ellnq and sponsorship
01heri￿O￿The
12.266
26,297
38.563 £
12.266
26.297
38.563
17

THE MIDDLESEX UNIVERSITY STUDENTS. UNION
NOTES TO THE FINANCNL STATEMENTS
Forthe year endBd 30 June 2022
4. INVESTMENT INCOME
ljnrtslricted
Funds
2022
Rgstrf¢ted
Funds
2022
Totsl
Funds
2022
Total
Furtd&
2021
Intere51 rece￿alle from..
Bank knler6st
14
Nll E
14
Unrestryc18O Reslricled
Funds
Funds
2021
2021
Total
Funds
2021
Inleresl reGeivsblg Imm..
S&nk ifrTrÈ6rnsi
14
14
14 E
14
5. INCOME FROM CH*J11T￿LE ￿TrIMEs
ilnr•8ldcted
Funds
2022
Restrlctsd
Fund•
2022
Total
Fund•
2022
Tot81
Funds
2021
Clubs and So¢￿11￿$
NUS Extra & MerchandislThJ
310
12,414
12.724 £
22.268
22.578
12,414
34.992 £
4.T60
13.707
22.268 t
18.467
6. RESOURCES EXPENOED
Olh•r dirnct
Support
cost6
Totsl
2022
St•ff Costs
Cost ef Char￿ble
Sludeni Rapresentatknn
Advice 8 Welfare
CornmunicalK)n & Marke
NUS Exir8 & Mar¢h8ndls
Sludenl Acliviiles
Sludeni Media
358.793
215,241
71,776
26.883
107,621
89,698
870.012
16.989
106.533
615
63,907
7.925
21,311
25.376
7.982
32.213
31,953
8.454
26.633
91.572 £ 25B.319
482.315
279,783
101,012
60.241
171,787
124,785
1,219.903
18

THE MIDDLESEX UNIVERSITY STUDENTS. UNION
NOTES TO THE FINANCNL STATEMENTS
Forthe year endBd 30 June 2022
6. RESOURCES EXPENDED IcontSnuedl
Comparallve r¢SOu￿¢S ¢xpend¢<l
Total
2021
Si8ff Costs
Co&1 ofch8r118b18
8clivibFs
StudentR$presMtat
Adv￿8 & W9M8
CcxFJmulliG&fion &
NUS Ektr8 d M6rthandlsl
StudentA¢frvits8s
stud6nfM8di
687.607
412.498
137.555
51.521
206.249
171.902
7.667.332 £
9.057
105.328
801,992
78
63.t85
475, 761
1.744
21.070
160,369
20.375
7.891
79,787
9. 124
31.592
246,965
5.829
26.J32
204.063
46.207 E 255.398 £ 1,968.937
Resourctt expended inchJde'.
2022
2021
Audllors, r&muneratk)n'.
Audit fee
Depreciatson
6.500
2.140
6,000
9,761
Dethi18 of $taff costs aw 9iven In Noi¢ 8.
Oelalls of Support cos¢¥ Is g￿fjn In Not• 7.
7. SUPPORT COSTS
Totsl
2022
To181
2021
siaffity rots16d eo$
Premises 8nd office costs
Govemance costs
MlscelL9neou5
Legal and [￿fe$S￿)nal
D￿recIa110n
Auditors, audll fee
49.435
52.765
1S4,143
151,022
2.081
630
17,867
22.Q85
26,150
17,115
2.140
5,780
fj,500
6.￿0
E 25B.316 £ 255.39T
19

THE MIDDLESEX UNIVERSITY STUDENTS. UNION
NOTES TO THE FINANCNL STATEMENTS
Forthe year endBd 30 June 2022
8. STAFF NUMBERS MD COSTS
2022
2021
Wages and salaries IFulTYrel
Wages and salaries (Part T*nBI
Soclal 88cunly cos1¥
Pension costs. current serv￿5 cos15
723.082
53,930
75.086
17.11S
870,013
621,033
57,852
61,362
14,711
754,959
912,373
E 870.012 £ 1,667.332
P8n8ion costs- p8818ervKe8 ￿?￿rt
2022
2021
The ?￿ra90 weekty nurt>8r ofempbs*es, headwJnL during the peri)J
W88..
Numb•r
Number
Staff
24.6
38.0
2022
2Q21
The w5t of key managvmvnt was as lokno-
Sabbaiic41 Olfictr
Senu manageThnl
139.578
201.656
111.247
240,563
Numberof Satknatcal 011Sc8rs
One12021 - one) empbyee receNed reTr￿ner81th ol more Ihan E60.C
The accounis Include terminabon p8ywents io¢81SThJ £nl12021 - £nill.
Thè kty management ￿tsOnnel of Unth 8re Ihosè persons h8TrAw authority 8nd responsibilty for
pLgnning. dirtciing and conirt•ng the ac¢ivrties of Ihe Un*)n. direclty Induding any Tmslea of
Ihe Charity. In oddilion lo the Trustee5. Key mpnH9errenl perxfftnel indudes the ChEI Execubve. Head of
Operations Head of MeMbe￿hlp.
9. TRVSTEES REMUMERAnON WID 8ENeFITS
S8bb8lic81 officers are pa￿ as aulhorised in Ihe Union's gOV￿1￿j dor¥n￿nI. the rep￿Sents￿on.
campavJning and 5UPPUrt work they undertakè as d￿tinG1 ftrJtn their busle8 r￿ponsIbl￿￿eS This work
induded voicing sludenl opinKn wlh Ihe Univerwand kxal commuThty. defendiry exi8nding Ihe right6
of sludgn15 Ihrough ￿¢11￿$ elc. and also organisiw and SUPkK)rtsng 5tud8nt volunteers and servicg
provision for Ihetn. Detai15 are inthded ￿ note 8.
ND mtmbÈr5 oflhÈ Board of Tru5tÈts rÈ¢*Ned te•YknursÈMtni￿ÈxPW5eS (2021-£7031.
20

THE MIDDLESEX UNIVERSITY STUDENTS. UNION
NOTES TO THE FINANCNL STATEMENTS
Forthe year endBd 30 June 2022
10. T*J4GBLE FIXED ASSETS
FSxturo and
Cost
Al 1 Juty 2021
Addiiiot)8
AI 30 Jung 2022
54,853
3.143
57,998
o￿T￿14t10￿
Al 1 ju￿ 2021
Ch8rge for Ihe ye8r
AI 30 June 2022
53,036
2,140
55,176
Not book valuo
At 30 Jun• 2022
AI 30 June 2021
2,B20
11. DE8TORS
2022
2021
Due wlthln one yèar
Trad& debtors
Duo from grwp undertakirMJ&
Prepayments
Otherdetstor8
5.073
33.413
11.240
3.202
52.928
6.536
28,L)2r
12,918
6, TOO
54.181
12. CREDifoR$.. *AIOUNTS FALLING WE WITHW ONE YEAR
2022
2021
Trade creditors
Delerred income
Othercredilo
VAT creditors
Pension cosL8- Pasl S8ryKe DefKil
Accrua15
2.800
3.750
2.099
2,106
2.517
2.767
2.912
195
7.462
18.217
18.307
26.698
13. CREDITORS.. *AIOUNT$ FALLING DUE NSTER ONE YEAR
2022
202t
Pension casts- Past ServKe t)efi(Mt
2,315.956
£ 2,315.956
2,389,561
£ 2.389.561
21

THE MIDDLESEX UNIVERSITY STUDENTS. UNION
NOTES TO THE FINANCNL STATEMENTS
Forthe year endBd 30 June 2022
14. DEFINED BENEFIT PENSION SCHEMe- su3S
2022
2021
P•nslon costs- Past s*￿¢0 D•fldt
Brought foFw8rd
Pasrynents Tnade
Unwndlng of Inter851 lor the ￿ar
Adjuslmenl to prOvis￿n$
2,389.561
154.1391
60.820
80.286
£ 2,315.956
1.572,595
(87,413)
904,379
£ 2,389.561
Anaty$l$".
Due wlhin one year
Falling due after Tr￿re than one ￿ar
2.315,956
£ 2,315.9
2,389,561
£ 2,389.561
With èffect from 30th SÈpiemb8r 2011 thè Siudents UnK>n Superannuation Sch&mè ISUSSI closed I
further benefit accrual. All parbcipaling unws ale required to annual deficit contributsons which are
expeGlod lo eliminale Ihg ijefiul by Isl Oclober 2033. The rrKtysl re￿nI valualion of SUSS al 30th June 2019
showed assets ol £119 milv)n and bab1h.1￿ 01 £260 ftNlx)n. a lunding deficil 0146%.
This15 a kjng tern commrfmenl which end5 ￿ 2035 the trus1885 are confvjenl that the annual paY￿ntS
ltswards Ihi$ plan will ￿ mèl out of I￿)￿*￿8¢h >*or.
15. STATEMENT OF FUNDS
Transfers and
In¥••tm•nt
Exp•nd•dg•ln•l(10•••61
Bmught
Forwawd
kn¢omln9
R••ourc
Carrl
Forward
Pensw Fund
General Fun¢Js
Total unr8slrlcle¢J lunds
Re51ricled funds
Clubs and ScrfJel*s
rotal funds
DIFF- Ple45e ch•¢
omparnllve slal•menl ollunds
12,389,5611
180,276
2.209.285
73.605
73,605
12,315.9561
243,087
2.072,869
1,338.875
1,338,875
1.202.4
1.202.459
3S,760
22,268
17.444
40,584
Bnwhl
Fonv•r
Incoming
Resour¢o5
ROSOU￿•s
Investhent
Expended i•lnslflosses)
Carried
Fofward
Pension F4Jnd Deficit
General Funds
Tot8Iunrgsirfct6d funds
Clubs anG1S￿li6$
{1,531,327J
61,965
11.469,362J
39.138
(858.2341
858.234
(2,389,561J
180,2T6
(2.209,285)
35,760
1.220,876
1.220.876
4.760
1,960.T99
11,960,799J
(4138)
Totsifvnds
1.430.124
1.215,536
1.9fj8.937
35,76
22

THE MIDDLESEX UNIVERSITY STUDENTS. UNION
NOTES TO THE FINANCNL STATEMENTS
Forthe year endBd 30 June 2022
16. ANALYS￿ OF NET A55ETS BETWEEN FUNDS
Vnrv•trlcted Funds
Designated
Genernl
Fund$
Fund$
Rutrlcted
Fund8
Total
Fund8
TangIb￿ fix8d as88ls
Net current assets
Credltots du8 In mor& than >*ar
2.820
2.S$6.223
12.315.9561
£ 243.087 É 40.$84 £
2.820
280,651
12.315,9581
2,032,285
1131S.9$61
2,31S,956
Comp•rnlfve an•ty￿S ofnetauets betwo•n fynd¥
UnrtStrkt•d Funds
Dos1gn•ivd
G•nw•l Ihstrict•d
Fund¥
Fund¥
Funtl$
Tol•l
Fund¥
1,817
214,219
(2,389.561J
2.173 525
Nel ¢urrenl 8ssets
Cr8diiot¥ éts8 in *Tr￿ th8n one ye6r
12.389.561)
2.568,020
12.389.56fl
t 180.276 È 35 T60 £
35.76Q
.389 561

THE MIDDLESEX UNIVERSITY STUDENTS. UNION
NOTES TO THE FINANC14L STATEMENTS
For tha y8ar8ndod 30 2022
17 COMPARATIVE STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted
Ftjnds
2021
Restricted
Ftjnds
2021
Total
Funds
2021
INCOME AND ENDOWMENTS FROM..
Donations andlegacies
Charitable activities
Other trading activities
Investmants
1. 168,592
13, 707
38,563
14
1, 168,592
18,467
38,563
14
4, T60
TOTAL
1.220.876
4, 760
1.225,636
EXPENDITURE ON:
CharitabK8 acbvities
1.960. T99
8, 138
1,968,931
Nel IncomelExpendilure
(739,923)
(3,378)
1743,301)
NET MOVEMENT IN FUNDS
IT39,923)
(3,378)
{743.301)
TOTAL FUNDS AT 30 JUNE 2020
(1,469,362)
39, 738
(1,430,224)
TOTAL FUNDS AT 30 JUNE 2021
2.209.285
£ 35.T60 £
2. 173.525
24