2023-06-30-accounts - Middlesex University Students' Union

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		Page
Legal and administrative	Information
Board ofTrustees's report
Independent Auditors'	Report
Statement Of Financial	Activities
Balance Sheet		12
Cash Flow Statement		13
Notes to the financial statements		14

Board ofTrustees	JAlogba				Appointed	I July 2021
	A Aroi'e				Appointed	1 July 2021
	A Calin				Appointed	1 July 2021
	T Gupta				Appointed	1 July 2021
	M Golec				Appointed	14 February 2022
	BMomson				Appointed	30 November 2017
	0Oye-Somefun				Appointed	14 February 2022
	N Relan				Appointed	I July 2020
	M Shah				Appointed	I July 2021
	J Suryavanshi				Appointed	I July 2021
	RWilkinson
Company Secretary	N A Smith
Company reg. no.	11972527
Charity reg. no.	1163433
Registered office	Middlesex	University		Students'	Union The
	Hendon
	London
	NW4 4BT
Auditors	Knox Cropper LLP
	65 Leadenhag		Street
	London
	EC3A 2AD

			Unrestricted	Restricted	Total	Tola/
			Funds	Funds	Funds	Funds
		Note	2023	2023f	2023 6	2022f
INCOME AND ENDOWMENTS	FROM:
Donations and legames		2	1,404,689		1,404,689	1,298,806
Charitable activities		5	35,871	10,518	46,389	34,992
Other trading activities		3	31,372		31,372	27,339
Investments		4	198		198	7
TOTAL			1,472,130	10,518	1,482,648	1,351,144
EXPENDITURE ON:
Charitable activities			1,230,139	10,437	1,240,576	1,219,903
TOTAL EXPENDITURE		6	1,230,139	10,437	1,240,576	1,219,903
Net Income/Expenditure			241,991	81	242,072	141,241
NET MOVEMENT IN FUNDS			241,991	81	242,072	141,241
RECONCILIATION OF FUNDS:
TOTAL FUNDS AT 1 JULY 2022			(2,072,869)	40,584	(2,032285)	(2,173,526)
TOTAL FUNDS AT 30JUNE 2023

			Notes
						2023 6			2022f
FIXEDASSETS
Tangible assets			10			25,043			2.820
CURRENT ASSETS
Stocks						19,662			t0,980
Debtors						86,300			52,928
Cash st bank and in hend						231,658			235,154
						337210			299,008
CREDITORS: amounts	falling	due
within one year			12			(229,803)			(I74,4571
NET CURRENT ASSETS						108,107			124,011
TOTAL ASSETSLESSCURRENT
LIABILITIES						133,150			127,431
CREDITORS: amounts	fafilng	due
after one year			13			(1,923,363)			(2, f59,7I6)
TOTAL NET LIABILITIES					2	1,790,213)		f	2,032,285
FUNDS
Unrestricted funds
Designated funds			15			(2,082,111)			(2,3f5,950)
General fund			t5			251,233			243,087
						(1,830,878)			(2,072,869)
Restricted funds			15			40,665			40,584
					f	1,790,213		f	2,032,285
The FinanCial Statementa	have	been	prepared	i~ aCCOrdanCe	With lhe SpeCial		prOViaicna	i~ Pan 15 Of the
Companies Act 2008 relating to		srnsg	companies	and section 1a		ofthe Financial	Reporting	Standard	102.

						2023		2022
						5
Cash flows from operating		activities
Surplus for the financial year						242,072		141,241
Adjustments for:
Depreciation						6,740		2,140
(Increase) in stocks						(8,676)		(2,983)
(Increase)/decrease in	debtors					(33,462)		1,253
(Decrease) in creditors						(181,207)		(82,086)
Investment income
						25,269		59,558
Cash flows from investing		activities
Purchase of intangible	fixed assets					(28,963)		(3,143)
Return on investment -	interest receivable					198		7
						(28,765)		(3,136)
Net (decrease)/increase in		cash and cash equivalents				(3,496)		56,422
Cash and cash equivalents	at 1 July 2022					235,154		178,733
Cash and cash equivalents		at 30June 2023			6	231,658	5	235,155
Components ofcash and	cash equivalents
				At 1July				At 30June
				2022		Cashflows		2023
Cash at bank and in hand			5	235,154	6	(3,496)	6	231,658

2.	DONATIONS	DONATIONS	AND LEGACIES	AND LEGACIES	AND LEGACIES
					Unrestricted			Restricted	Total	Total
						Funds		Fuiitle	Fertile	Funds
						2023		2023	2023	2022
						E		E	E
	University	Block		Grant		1,280,505			1,280,505	1,246,556
	Other University			Grants		124,184			124,184	52,250
					E	1,404,689	E	Nil	E 1,404,689 f	1,298,806
	Comparative		donations		and legacies
						Unrestricted		Restricted		Tote/
						Funds		Funds		Funds
						2022		2022		2022
	University	Block		Grant		1,246,556				1,246,556
	Other University			Grants		52,250				52,250
					f	1,298,806	f	Nil		1,298,806
3.	INCOME	FROM		OTHER	TRADING ACTIVITIES

INCOME	FRO	M OTHER TRADING ACTIVITIES	M OTHER TRADING ACTIVITIES
		Unrestricted			Restricted		Total	Total
			Furida		Funds		Funds	Funds
			2023		2023		2023	2022
			E		E		6
Marketing	and	sponsorship	29,459				29,459	22,228
Other income		from activities	1,913				1,913	5,111
		E	31,372	6	Nil	6	31,372 f	27,339
Comparative		income from other trading activities
			Unrestricted		Restricted			Total
			Funds		Funds			Funds
			2022		2022			2022f
Marketing	and	sponsorship	22,228					22,228
Otherincome		from activities	5,111					5,111
		f	27,339	f	Nil			27,339

			Unrestricted	Unrestricted		Restricted		Total		Total
				Funds		Funds		Funds		Funds
				2023 6		2023 6		2023 6		2022f
	Interest receivable	from:
	Bank interest			198				198
			6	198	6	Nil	6	198	f	7
	Comparative investmentincome
				Unrestricted		Reslncted				Total
				Funds		Funds				Funds
				2022f		2022				2022
	Interest receivable	fram:
	Bankinterest
				7	f'	Nil			f	7
5.	INCOME FROM CHARITABLE ACTIVITIES
			Unrestricted			Restricted		Total		Torsi
				Funds		Funds		Funds		Funds
				2023 6		2023 6		2023 6		2022f
	Clubs and Societies			1,900		10,518		12,418		22,578
	NUS Extra 8 Merchandising			33,971				33,971		I2,414
			6	35,071	6	10,518	6	46,389	f	34,992
6.	RESOURCES EXPENDED
						Other direct		Support		Total
				Staff Costs 6		costsf		costs 6		2023 6
	Cost of charitable
	ac0vities
	Student Representation			362,670		16,042		111333		490,045
	Advice & Welfare			217,567		675		66,786		285,028
	Communication	&Marks		72,551		22,110		22,272		116,933
	NUS Extra &Merchandis			27,174		26,645		8,341		62,160
	Student Activities			108,783		18,414		33,393		160,590
	Student Media		f	90,667 879,412	f	7,321 91,207	f	27,832 269,957	f	125,820 1,240,576

Comparative reso	urc	es exp	end	ed
						Other	dimct	Support	Total
					Staff Costsf		cosfsf	costs	2022f
Cost ofcharitable
activities
Student Representation					358,793	16,989		106,533	482,315
Advice 5 Welfare					215,241		615	83,907	279,763
Communication	5 Markeling				71,776		7,925	21,311	101,012
NUS Extra &Merchandising					26,883	25,376		7,982	80,241
Student Activities					107,621	32.213		31,953	171,787
Student Media					89698		8454	26633	124785
				f	870,012 f	91,572 f		258,319 f	1,219,903
Resources expended		include:
								2023	2022
Auditors' remuneration:
Audit fee								6,542	6,500
Depredation		-	on	owned assets				6,740	2,140
Details ofstaff costs are given			in	Note 8.
Details ofSupport	costs is given			in Note 7.

SUPPORT C	OSTS
			Total	Total
			2023	2022
			6
Staffing remted costs			95,069	49,435
Premises and office costs			100,261	154,143
Governance	costs		2,698	2,081
Miscellaneous			19,903	17,867
Legal and professional			38,741	26,150
Depreciation			6,740	2,140
Auditors' audit fee			6,542	6,500
		f	269,954 f	258,316

STAFF NUMBERS AND COSTS	STAFF NUMBERS AND COSTS	STAFF NUMBERS AND COSTS	STAFF NUMBERS AND COSTS
									2023		2022
Wages and satanas	(Fug Time)								819,923		T23,882
Wages and salaries	(Part Time)								33,218		53,930
Social security costs									84,531		T5,086
Pension costs - current services costs									17,525		17,115
									955,197		870,012
Pension costs - past	services		deficit
								8	879,412	6	870,012
									2023		2022
The average weekly	number	ofemployees,			head-count,		during the period
was:									Number		Number
Staff									28.8
									28.8
									2023		2022
									8
The cost of key management			was	as follows:
Sabbatical Officers									113,587		139,578
Senior management									194,013		201,656
Number ofSabbatical Officers									4		5
One (2022 - one) employee		received remuneration				of more than f60,000
The accounts include	termination			payments	totalling	Enil	(2022 -Eng).

TANGIBLE FIXEDA	SSE	TS
					Fixture and
					fittings
					6
Cost
At 1 July 2022					57,996
Additions					28,963
At 30June 2023					86,959
Depreciation
At1 July2022					55,176
Charge for the year					6,740
At 30June 2023					61,916
Net book value
At 30June 2023				6	25,043
At 30June 2022
DEBTORS
			2023		2022
Due within one year			6
Trade debtors			40,346		5,073
Due from Middlesex	Univennty		27,674		33,413
Prepayments			13,116		11,240
Other debtors			5,254		3,202
		6	86,390	5	52928
CREDITORS: AMOUNTS		FALLING DUE WITHIN ONE YEAR
			2023		2022
			6
Trade creditors			37,819		2,800
Deferred income			20,250		3,750
Other creditors			2,177		2,099
VAT creditors			(48)		2,106
Pension costs - Past	Service Deficit		158,748		155,240
Accruals			10,657		7,462
		6	229,603		174,457

						2023	2022
						6
Pension	costs	- Past	Service	Deficit		1,923,363	2,159,715
					6	1,923,363	2,159,715

16.ANALYSIS OF NET ASSETS BETWEEN FUNDS	16.ANALYSIS OF NET ASSETS BETWEEN FUNDS
	Unrestricted		Funds
	Designated		General	Restricted	Total
	Funds		Funds	Funds	Funds
	6		6	6	6
Tangible lixed assets			25,043		25,043
Net current assets	(2,082,111)	2,149,553		40,665	108,107
Creditors due in more than one year		(1,923,363)			(1,923,363)
Comparative analysis ofnet assets between	funds
	Unresadcted		Funds
	Designated		General	Restricted	Tots/
	Funds f		Funds f	Fundsf	Fundsf
Tangible fixed assets			2,820		2,820
Net current assets	(2,315,955)	2,399,984		40,583	124,610
Creditors due in more than one year		(2,150,716)			(2,159,716)

17 COMPARATIVE STATEME	NT OF FINANCIAL	ACTIVITIES
		Unrestricted	Restricted	Total
		Funds	Funds	Funds
		2022	2022	2022
INCOME AND ENDOWMENTS	FROM:
Donations and legacies		1,298,805		1,298,805
Charitable activities		12,724	22268	34,992
Other trading activities		27,339		27,339
Investments		7		7
TOTAL		1,338,875	22268	1,361,143
EXPENDITURE ON:
Charitable activities		1,202,459	17,444	1,219,903
Net Income/Expenditure		136,416	4,824	141,240
NET MOVEMENT IN FUNDS		136,416	4,824	141,240
TOTAL FUNDS AT 30JUNE 2021		(2,209,285)	35,760	(2,173,525)
TOTAL FUNDS AT 30JUNE 2022		~82022,805 f	40584	~82082285