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##
|||||Page|
|---|---|---|---|---|
|Reference and Administrative||Details ofthe Company,|its Trustees and Advisers||
|Trustees'
Report||||2-14|
|Independent|Auditors'
Report|on the Financial Statements||15-18|
|Consolidated|Statement of Financial Activities|||19|
|Consolidated|Balance Sheet|||20|
|Company
Balance Sheet||||21|
|Consolidated|Statement
ofCash Flows|||22|
|Notes to the|Financial Statements|||23-43|
##
##
|Trustees||||S Campbell
(appointed
2 July 2020)|||
|---|---|---|---|---|---|---|
|||||C Catron (appointed
20 July 2020, resigned
1||July 2021)|
|||||J Coe (appointed 2 July 2020)|||
|||||A Delap (appointed
2 July 2020, resigned 28 January 2021)|||
|||||L Follon (appointed
2 July 2020, resigned 20 July 2020)|||
|||||A Gomez (appointed
20 July 2020, resigned 30June 2021).|||
|||||A Harmon
(appointed
2 July 2020, resigned 20 July 2020)|||
|||||LJones (appointed
1 July 2021)|||
|||||J Killick (appointed 2 July 2020)|||
|||||H Maryam
(appointed
1 July 2021)|||
|||||S Middleton
(appointed
20 July 2020, resigned||30June 2021)|
|||||P Orton (appointed
1 July 2021)|||
|||||F Robertson-Barnett
(appointed
20 July 2020)|||
|||||M Robinson
(appointed 2 July 2020,|resiqned|20 July 2020)|
|||||M Searle (appointed
2 July 2020, resigned 23August 2021)|||
|||||Z Sutton (appo)nted
1 July 2021)|||
|||||ESweeney (appointed
2 July 2020,|resigned|30June 2021)|
|||||A Welsh (appointed
2 July 2020, resigned 20||July 2020)|
|Company|registered||||||
|number||||12714026|||
|Charity registered|||||||
|number||||1191269|||
|Registered||office||21 Higher Cambridge
Street|||
|||||Manchester|||
|||||M15 6AD|||
|Chief executive officer||||Matt Robinson|||
|Senior leadership|||team|Matt Robinson,
Chief Executive Officer|||
|||||Paul Norman,
Head of Membership|Development||
|||||Stephanie
Taylor-Wren,
Head of Insight|||
|||||Louise White, Head of Finance 8 Performance|||
|||||Lesley Edwards,
Head of People|||
|||||Jo Stafford, Head of Marketing
and|Communications||
|independent||auditors||Dains LLP|||
|||||Statutory Auditor|||
|||||Chartered
Accountants|||
|||||Suite 2, Albion House|||
|||||2 Etruria ONce Village|||
|||||Forge Lane|||
|||||Stoke on Trent|||
|||||Staffordshire|||
|||||ST1 5RQ|||
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||||Unrestricted|Restricted|Total|
|---|---|---|---|---|---|
||||funds|funds|funds|
||||2021|2021|2021|
|||Note||F||
|Income from."||||||
|Donations
and legacies|||2,487,445|327,803|2,815,248|
|Other trading
activities|||408,314||408,314|
|investments|||121||121|
|Total income|||2,895,880|327,803|3,223,683|
|Expenditure
on:||||||
|Raising funds|||406,265||406,265|
|Charitable
activities||6|7,084,447||7,084,447|
|Total expenditure|||7,490,7'I2||7,490,712|
|Net (expenditure)/income|||(4,594,832)|327,803|(4,267,029)|
|Transfers
between|funds|18|327,803|(327,803)||
|Net movement
in|funds||(4,267,029)||(4,267,029)|
|Reconciliation
of|funds:|||||
|Net movement
in funds|||(41267,029)||(4,267,029)|
|Total funds carried forvvard|||(4,267,029)||(4,267,029)|
##
|||||||2021|
|---|---|---|---|---|---|---|
|||||Note|||
|Fixed assets|||||||
|Tangible assets||||11||25,879|
|Investments||||'l2||1,824|
|||||||27,703|
|Current assets|||||||
|Stocks||||13|91,163||
|Debtors||||14|102,052||
|Cash at bank and|in hand||||1,631,516||
||||||1)824,731||
|Creditors: amounts|falling due within||one year|15|(607,448)||
|Net current assets||||||1,217,283|
|Total assets less|current|liabilities||||1,244„986|
|Creditors: amounts|falling due after||more than one year|16||(5,512,015)|
|Total net liabilities||||||(4,267,029)|
|Charity funds|||||||
|Restricted
funds|||||||
|Unrestricted
funds|||||||
|Unrestricted
funds|excluding|pension|liability|18|1,478,278||
|Pension reserve||||18|(5,745,307)||
|Total unrestricted|funds|||18||(4,267,029)|
|Total funds||||||(4,267,029)|
##
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##
|||||||2021|
|---|---|---|---|---|---|---|
|||||Note||F|
|Fixed assets|||||||
|Tangible assets||||11||26,879|
|Investments||||12||1,826|
|||||||27,704|
|Current assets|||||||
|Stocks||||13|86,671||
|Debtors||||14|267„085||
|Cash at bank and|in hand||||1,467,342||
||||||1,821,098||
|Creditors: amounts|faliing due within||one year|15|(603,816)||
|Net current assets||||||1,217,282|
|Total assets less|current|liabilities||||1,244,986|
|Creditors; amounts|falling due after more than one year|||16||(6,612,016)|
|Total net assets||||||(4)267,029)|
|Charity funds|||||||
|Restricted funds||||18|||
|Unrestricted
funds|||||||
|Unrestircted
funds|excluding|pension|liability|18|1,478,278||
|Pension reserve||||18|(5,745,307)||
|Total unrestricted|funds|||||(4,267,029)|
|Total funds||||||(4,267,029)|
##
|Cash flows from operating
activities||||
|---|---|---|---|
|Net cash provided
by operating
activities|||19,364|
|Cash flows from investing
activities||||
|Purchase oftangible
fixed assets|||V,649)|
|Cash donated
from predecessor
charity|||1,614,001|
|Net cash provided
by investing
activities|||1„612,152|
|Change
ln cash and cash equivalents|in the period||1,631,516|
|Cash and cash equivalents
at the end|ofthe period||1,631„516|
|The notes on pages 23 to 43 form part of these financial||statements||
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|||Unrestricted|Restricted|Total|
|---|---|---|---|---|
|||funds|funds|funds|
|||2021|2021|2021|
|||||E|
|Block grant||1,937,149||1,937,149|
|Top up grant||660,296||560,296|
|Coronavirus|Job Retention Scheme||327,803|327,803|
|||2,487,445|327,803|2,815,248|
##
##
|||||Unrestricted|Total|
|---|---|---|---|---|---|
|||||funds|funds|
|||||2021|202'i|
||||||E|
||Commercial|||337,676|337,676|
||Totum|Card||2, 'I80|2,180|
||Media|||(2,794)|(2,794)|
||Other|||50,000|60,000|
||Trading|Subsidiary||21,353|21,363|
|||||408,314|408,314|
|6.|Investment||income|||
|||Unrestricted|Total|
|---|---|---|---|
|||funds|funds|
|||2021|2021|
|investment|income|121||
##
##
|||||||Unrestricted|Total|
|---|---|---|---|---|---|---|---|
|||||||funds|funds|
|||||||2021|2021|
|Advancement|ofeducation|||||2,106,206|2,106,206|
|Transfer from|The Manchester|Metropolitan|University|Students'|Union|4,978,241|4,978,241|
|||||||7,084,447|7,084,447|
||||||||Total|
|---|---|---|---|---|---|---|---|
|||||Staff costs|Depreciation|Other costs|funds|
|||||2021
f|2021|2021|2021|
|Advancement|of education|||1,294,963|14,424|796,819|2,106„206|
|Transfer from The Manchester|||Metropolitan|||||
|University|Students'|Union||||4,978,241|4,978,241|
|||||1,294,963|14,424|5,775,060|7,084,447|
##
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##
|||||Unrestricted|Total|
|---|---|---|---|---|---|
|||||funds|funds|
|||||2021|2021|
|Bar, shop and building|||support|278,268|278,268|
|Freshers|costs|||1,463|1,463|
|Trading|subsidiary|costs||9,781|9,781|
|Ambassador
costs||||'l0,929|10,929|
|Voluntary|income staff||costs|92,889|92,889|
|Voluntary|income depreciation|||12,936|12,935|
|||||406,265|406,265|
##
##
##
|||||||Activities||
|---|---|---|---|---|---|---|---|
|||||||undertaken|Total|
|||||||directly|funds|
|||||||2021|2021|
|||||||E||
|Total direct costs||||||2,106,206|2,106,206|
|Transfer from The Manchester||Metropolitan|University|Students'|Union|4,978,241|4,978,241|
|||||||7,084,447|7,084,447|
|Analysis
ofdirect costs||||||||
||||||||Total|
||||||||funds|
||||||||2021|
||||||||F|
|Transfer
from The Manchester||Metropolitan|University|Students'|Union||4,978,241|
|Staff costs|||||||1,294,963|
|Depreciation|||||||14,424|
|Staff travel 8 hospitality|||||||1 212|
|Training|||||||42,471|
|SUSS pension costs|||||||49,727|
|Printing,
postage and stationary|||||||5,411|
|Banking
and transaction|charges||||||5„816|
|Legal and professional|fees||||||73,603|
|Campaigns|||||||2,694|
|Welcome costs|||||||1,813|
|Computer
and office equipment|||||||25,074|
|Licenses, subscriptions|and affiliations||||||58,041|
|Marketing
and research|||||||(2,756)|
|Website costs|||||||6,875|
|Opportunities
and volunteering|||||||8,196|
|Project funding|||||||11,420|
|Staff recruitment|||||||4,354|
|Staff OSPS 8 DIS|||||||2,432|
|Repairs, maintenance|and premises costs||||||492,942|
|Other direct costs|||||||(2)712)|
|Governance
costs|||||||10,206|
||||||||7„084,447|
##
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##
|Net inco|me/(|exp|enditure|)|||
|---|---|---|---|---|---|---|
|||||||2021|
|||||||E|
|Depreciation||of|tangible|fixed assets:|||
|-owned|by|the|charitable||group|27,357|
|Auditor's|renumeration|||-audit||7,610|
|Other operating|||leases|||535„476|
|||||||670,443|
##
||Group|Company|
|---|---|---|
||2021|2021|
|Wages and salaries|1,220,942|1,220,942|
|Social security costs|107,376|107,376|
|Other pension costs|69,535|59,536|
||1,387,853|1,387,863|
##
##
##
||||Group|
|---|---|---|---|
||||2021|
||||No.|
|Venues|||3|
|Shop|||5|
|Central|||8|
|Marketing|||12|
|Membership/Opportunities|||12|
|Oflicers|||5|
|Advice|||7|
|Cafe|||3|
|Reception|and Building|Support|4|
##
##
##
||Plant and|Office|Computer|Other fixed||
|---|---|---|---|---|---|
||machinery|equipment
f.|equipment
E|assets
E|Total
F.|
|Cost or valuation||||||
|Additions|600|1„249|||1,849|
|Donations|26,279|5,481|17,898|2,729|51,387|
|At 31 July 2021|26„879|6,730|17,898|2,729|53,236|
|Depreciation||||||
|Charge for the period|14,929|2,067|9,110|1,251|27„357|
|At 31 July 2021|14,929|2,067|9,110|1,261|27,367|
|Net book value||||||
|At 31 July 2021|10,960|4,663|8,788|1,478|25,879|
##
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##
##
|||||||Listed|
|---|---|---|---|---|---|---|
|||||||Investments|
||Group|||||F|
||Cost or valuation||||||
||On donation at 15September 2020|||||1,824|
||At 31 July 2021|||||1,824|
||Net book value||||||
||At 31 July 2021|||||1,824|
|||||Investments|||
|||||In|||
|||||subsidiary|Listed||
|||||companies|investments|Total|
||Company|||E|||
||Cost or valuation||||||
||On donation
at 15September 2020||||1&824|1,825|
||At 31 July 2021||||1,824|1,825|
||Net book value||||||
||At 31 July 2021||||1„824|1,825|
||Ail fixed asset investments|are held|in the UK.||||
|13.|Stocks||||||
|||||||Group|Company|
|---|---|---|---|---|---|---|---|
|||||||2021|2021|
|Finished|goods|and|goods|for|resale|91,163|86,671|
##
##
##
##
|||Group|Company|
|---|---|---|---|
|||2021|2021|
|||F||
|Due within one year||||
|Trade debtors||16,365|16,365|
|Amounts
owed by group undertakings|||165,430|
|Other debtors||29,558|29„161|
|Prepayments|and accrued income|29,117|29,'i17|
|Grants receivable||27,012|27,0'l2|
|||102&052|267,085|
##
|||Group|Company|
|---|---|---|---|
|||2021|2021|
|Trade creditors||26,697|25,555|
|Other taxation and social security||30,277|30,277|
|Other creditors||400,068|399)988|
|Accruals and deferred|income|'i50,406|147,996|
|||607,448|603,816|
##
##
##
##
||||||Group|
|---|---|---|---|---|---|
||||||2021|
|Payable|or|repayable|by|instalments|4,335,997|
||||||4,335,997|
##
||||||Group|Company|
|---|---|---|---|---|---|---|
||||||2021|2021|
|Financial|assets||||||
|Financial|assets measured||at arnortised|cost|46,923|46,526|
||||||Group|Company|
||||||2021|2021|
|Financial|liabilities||||||
|Financial|liabilities|measured|at amortised|cost|6,089,186|6,085,554|
##
##
##
|Statement offunds||||||||
|---|---|---|---|---|---|---|---|
|Statement offunds|- current||period|||||
|||||||Transfers|Balance at|
|||||Income|Expendituref|in/out|31July 2021|
|Unrestricted
funds||||||||
|Oesignated
funds||||||||
|Development
and Improvement|||F'und|||240,000|240,000|
|General funds||||||||
|General Funds||||2)895&880|(7y420y326)|5)762y724|1y23&y278|
|Pension
reserve|||||(70,386)|(5,674,921)|(5,745,307)|
|||||2,895,880|(7,490,712)|87,803|(4,507,029)|
|Total Unrestricted|funds|||2,895,880|(7,490,712)|327,803|(4,267,029)|
|Restricted funds||||||||
|Coronavirus
Job retention||scheme||32?,803||(327„803)||
|Total offunds||||3,223,683|(7,490,712)||(4,267,029)|
##
|Summary|offunds - current peri|od||||
|---|---|---|---|---|---|
|||||Transfers|Balance at|
|||Income|Expenditure|In/out|31July 2021|
|||E|F|F||
|Designated|funds|||240,000|240,000|
|General funds||2,895,880|(7,490,712)|87,803|(4,507,029)|
|Restricted|funds|327,803||(327,803)||
|||3,223,6&3|(7,490,712)||(4,267,029)|
##
##
##
|Analysis|of net assets between
funds - current period|||
|---|---|---|---|
|||Unrestricted|Total|
|||funds|funds|
|||2021|2021|
||||F|
|Tangible|fixed assets|25,879|25,879|
|Fixed asset investments||1,824|1,824|
|Current|assets|1,824,731|1,824,731|
|Creditors|due within one year|(607,448)|(607,448)|
|Creditors|due in more than one year|(5,512,015)|(5,612,016)|
|Total||(4,267,029)|(4,267,029)|
##
|||||||||Group|
|---|---|---|---|---|---|---|---|---|
|||||||||2021|
|Net incomelexpenditure||||for the period||(as per Statement|of Financial Activities)|(4,267,029)|
|Adjustments|for:||||||||
|Depreciation|charges|||||||27,357|
|Decrease
in|stocks|||||||33,676|
|Decrease
in|debtors|||||||156,603|
|(Decrease)|in creditors|||||||(909,385)|
|Assets donated
from|||predecessor||charity|||(2,050,607)|
|Liabilities
inherited||from||predecessor||charity||7,028,848|
|Net casH provided|||by|operating|activities|||19,363|
|||Group|
|---|---|---|
|||2021|
|Cash|in hand|1,631,516|
|Total|cash and cash equivalents|1,63"l,516|
##
##
||||||||At 31July|
|---|---|---|---|---|---|---|---|
|||||||Cash flows|2021|
|Cash|at|bank|and|in|hand|1,631)516|1,631&516|
|||||||1,631,516|1,631,516|
##
|||Book value|Fair value|
|---|---|---|---|
|Fixed Assets||||
|Tangible||51,389|51,389|
|'investments||1,824|1,824|
|||53,213|53,213|
|Current Assets||||
|Stocks||124,738|124,738|
|Debtors||258,655|258„655|
|Cash at bank and|in hand|1,614,001|1,614,001|
|Total Assets||2,050,607|2,050,607|
|Creditors||||
|Total liabilities||(7,028,84&)|(7,028,848)|
|Total Identifiable|net liabilities|(4,978,241)|(4,978,241)|
##
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##
|under non|-can|cellable
operating
leases as follows:|||
|---|---|---|---|---|
||||Group
2021|Company
2021|
||||P|E|
|Not later than||1 year|535,476|535,476|
|Later than|1 year and not later than 5years||1,606,428|1,606,428|
||||2,141,904|2,141,904|
##
|||2021|
|---|---|---|
|||F|
|Recurrent|Grant Receivable|1,858,800|
|Sale ofGoods and Services||80,173|
|Purchases|ofGoods and Services|488,787|
|Rent||213,000|
|Service charge||322,476|
|||2,963,236|
##
##
|Name|||||Company|Class of|Holding|Included|in|
|---|---|---|---|---|---|---|---|---|---|
||||||number|shares||consolidation||
|Manchester||Metropolitan|Students'|Union|09188480|Ordinary|100%|Yes||
|Trading|Limited|||||Shares||||
##
##
|rincipal su|bsidiaries
(|continued)|||||||
|---|---|---|---|---|---|---|---|---|
|Name|||||Income|Expenditure|Net|assets|
|||||||||P.|
|Manchester|Metropolitan|Students'|Union|Trading|21,353|(21,353)|||
|Limited|||||||||