##
##
||||||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||||LJones||||||
|---|---|---|---|---|---|---|---|---|---|
|||||S Campbell||||||
|||||J Killick||||||
|||||I Iftikhar (appointed||1|July 2022)|||
|||||S E Ibifunmilola
(appointed
1 July 2022)||||||
|||||S Islam (appointed|1||July 2022)|||
|||||P BCrewe (appointed||||1 July 2022)||
|||||J Coe (resigned 31|August 2022)|||||
|||||H Maryam
(resigned|||30June 2022)|||
|||||Z Sutton (resigned 30||||June 2022)||
|||||M Searle (resigned|23|||August 2021)||
|||||F Robertson-Barnett|||(resigned 30June 2022)|||
|||||P Orton (resigned 30|||June 2022)|||
|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 Audit Limited||||||
|||||Statutory
Auditor||||||
|||||Suite 2, Albion House||||||
|||||2 Etruria Office Village||||||
|||||Forge Lane||||||
|||||Stoke on Trent||||||
|||||Staffordshire||||||
|||||ST1 5RQ||||||
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|||Unrestricted|Restricted|Total|Total|
|---|---|---|---|---|---|
|||funds|funds|funds|funds|
||Note|2022
f|2022
E|2022f|2021
E|
|Income from:||||||
|Donations
and legacies||2,771,118|21,983|2,793,101|2,815,248|
|Other trading
activities||1,571,179||1,571,179|408,314|
|Investments||685||685|121|
|Total income||4,342„982|21,983|4,364,965|3,223,683|
|Expenditure
on:||||||
|Raising funds||1,559,468||1,559,468|406,265|
|Charitable
activities||2,345,953||2,345,953|7,084,447|
|Total expenditure||3,905,421||3905421|7490 712|
|Net income/(expenditure)||437,561|21,983|459,544|(4,267,029)|
|Transfers
between
funds|18|21,983|(21,983)|||
|Net movement
in funds||459,544||459,544|(4,267,029)|
|Reconciliation
offunds:||||||
|Total funds brought
forward||(4,267,029)||(4,267,029)||
|Net movement
in funds||459,544||459,544|(4,267,029)|
|Total funds carried forward||(3,807,485)||(3,807,485)|(4,267,029)|
##
##
##
|||||||2022||2021|
|---|---|---|---|---|---|---|---|---|
|||||Note||E|||
|Fixed assets|||||||||
|Tangible assets||||11||17,260||25,879|
|Investments||||12||1,824||1,824|
|||||||19,084||27,703|
|Current assets|||||||||
|Stocks||||13|102,180||91,163||
|Debtors||||14|93,984||102,052||
|Cash at bank and|in|hand|||1,971,403||1,631,516||
||||||2,167,567||1,824,731||
|Creditors: amounts
year||falling|due within one|15|(738,023)||(607,448)||
|Net current assets||||||1,429,544||1,217,283|
|Total assets less|current||liabilities|||1,448,628||1,244,986|
|Creditors: amounts
than one year||falling|due after more|16||(5,256,113)||(5,512,015)|
|Total net liabilities||||||(3,807,485)||(4,267,029)|
|Charity funds|||||||||
|Restricted
funds||||18|||||
|Unrestricted
funds|||||||||
|Designated
funds||||18|240,000||240,000||
|General funds||||18|1,470,009||1,238,278||
|Pension reserve|||||(5,517,494)||(5, 745,307)||
|Total unrestricted|funds|||18||(3,807,485)||(4,267,029)|
|Total funds||||||(3,807,485)||(4, 267,029)|
##
##
|||||||2022||2021|
|---|---|---|---|---|---|---|---|---|
|||||Note||f.|||
|Fixed assets|||||||||
|Tangible assets||||11||17,260||25,879|
|Investments||||12||1,825||1,825|
|||||||19,085||27,704|
|Current assets|||||||||
|Stocks||||13|96,390||86,671||
|Debtors||||14|169,229||267,085||
|Cash at bank and|in hand||||1,875,394||1,467,342||
||||||2,141,013||1,821,098||
|Creditors: amounts|falling due within||one||||||
|year||||15|(711,470)||(603,816)||
|Net current assets||||||1,429,543||1,217,282|
|Total assets less|current|liabilities||||1,448,628||/,244,986|
|Creditors: amounts|falling due after||more||||||
|than one year||||||(5,256,113)||(5,512,015)|
|Total net assets||||||(3,807,485)||(4,267,029)|
|Charity funds|||||||||
|Restricted
funds||||18|||||
|Unrestricted
funds|||||||||
|Unrestircted
funds|excluding|pension|liability|18|1,470,009||1,238,278||
|Designated
funds||||18|240,000||240,000||
|Pension reserve||||18|(5,517,494)||(5,745,307)||
|Total unrestricted|funds|||18||(3,807,485)||(4,267,029)|
|Total funds||||||(3,807,485)||(4,267,029)|
##
##
|||||2022|2021|
|---|---|---|---|---|---|
|||||F||
|Cash flows from operating|activities|||||
|Net cash provided
by operating
activities||||355,960|19,364|
|Cash flows from investing|activities|||||
|Purchase
oftangible
fixed assets||||(16,073)|(1,849)|
|Cash donated
from predecessor
charity||'|||1,614,001|
|Net cash provided
by investing
activities||||(16,073)|1,612,152|
|Change
in cash and cash|equivalents|in|the year|339,887|1,631,516|
|Cash and cash equivalents|at the beginning||ofthe year|1,631,516||
|Cash and cash equivalents|at the end|of|the year|1,971,403|1,631,516|
##
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##
||||Unrestricted|Restricted|Total|
|---|---|---|---|---|---|
||||funds|funds|funds|
||||2022|2022|2022|
||||||f.|
|Block grant|||2,145,138||2,145,138|
|Top up grant|||625,980||625,980|
|Coronavirus|Job Retention|Scheme||21,983|21,983|
||||2,771,118|21,983|2,793,101|
||||Unrestricted|Restricted|Total|
||||funds|funds|funds|
||||2021|2021|2021|
||||||E|
|Block Grant|||1,937,149||1,937,149|
|Top up grant|||550,296||550,296|
|Coronavirus|Job Retention|Scheme||327,803|327,803|
||||2,487,445|327,803|2,815,248|
##
##
|||Unrestricted|Total|
|---|---|---|---|
|||funds|funds|
|||2022f|2022
F|
|Commercial||1,328,972|1,328,972|
|Totum|Card|1,729|1,729|
|Media||56,856|56,856|
|Trading|Subsidiary|183,622|183,622|
|||1,571,179|1,571,179|
##
##
##
##
|Income|from fundraising
events (continued)|||
|---|---|---|---|
|||Unrestricted|Total|
|||funds|funds|
|||2021|2021f|
|Commercial||337,575|337,575|
|Totum|Card|2,180|2,180|
|Media||(2,794)|(2,794)|
|Other||50,000|50,000|
|Trading|Subsidiary|21,353|21,353|
|||408,314|408,314|
##
|||Unrestricted|Total|
|---|---|---|---|
|||funds|funds|
|||2022|2022|
|||F||
|Investment|income|685|685|
|||Unrestricted|Total|
|||funds|funds|
|||2021|2021|
|Investment|income|121|121|
##
##
##
||||||||||||Unrestricted|Total|
|---|---|---|---|---|---|---|---|---|---|---|---|---|
||||||||||||funds|funds|
||||||||||||2022|2022|
||||||||||||F|F|
||Advancement||ofeducation||||||||2,345,953|2,345,953|
||||||||||||Unrestricted|Total|
||||||||||||funds|funds|
||||||||||||2021|2021|
||Advancement||of education||||||||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|
|7.|Expenditure||on raising funds||||||||||
||Costs of raising voluntary|||||income|||||||
||||||||||||Unrestricted|Total|
||||||||||||funds|funds|
||||||||||||2022|2022|
||||||||||||F|F|
||Bar, shop and||building||support||||||802,732|802,732|
||Freshers|costs|||||||||31,794|31,794|
||Trading|subsidiary||costs|||||||132,251|132,251|
||Ambassador||costs||||||||13,412|13,412|
||Voluntary|income staff|||costs||||||570,444|570,444|
||Voluntary|income depreciation|||||||||8,835|8,835|
||||||||||||1,559,468|1,559,468|
##
##
|||||||Unrestricted|Total|
|---|---|---|---|---|---|---|---|
|||||||funds|funds|
|||||||2021|2021|
|||||||E||
|Bar, shop||and|building||support|278,268|278,268|
|Freshers||costs||||1,463|1,463|
|Trading|subsidiary|||costs||9,781|9, 78'l|
|Ambassador|||costs|||10,929|10,929|
|Voluntary||income staff|||costs|92,889|92,889|
|Voluntary||income depreciation||||12,935|12,935|
|||||||406,265|406,265|
##
|||||Activities||
|---|---|---|---|---|---|
|||||undertaken|Total|
|||||directly|funds|
|||||2022|2022|
|||||f.|F|
|Total direct costs||||2,345,953|2,345,953|
|||||Activities||
|||||undertaken|Total|
|||||clirectly|funds|
|||||2021|2021|
|Total direct costs||||2,106,206|2,106,206|
|Transfer from The Manchester|Metropolitan|Students'|Union|4,978,241|4,978,241|
|||||7,084,447|7,084,447|
##
||||||Total|Total|
|---|---|---|---|---|---|---|
||||||funds|funds|
||||||2022|2021|
|Staff costs|||||1,320,018|1,294,963|
|Depreciation|||||15,598|14,424|
|Staff travel
& hospitality|||||8,946|1,212|
|Training|||||27,676|42,471|
|SUSS pension costs|||||81,812|49,727|
|Printing,
postage and stationary|||||5,535|5,411|
|Banking
and transaction|charges||||4,823|5,816|
|Legal and professional|fees||||63,719|73,603|
|Campaigns|||||6,712|2,694|
|Welcome costs|||||8,176|1,813|
|Insurance|||||31,739||
|Computer
and office equipment|||||11,596|25,074|
|Licenses, subscriptions|and affiliations||||58,069|58,041|
|Marketing
and research|||||4,383|(2,756)|
|Website costs|||||9,147|6,875|
|Opportunities
and volunteering|||||14,864|8,196|
|Project funding|||||50,590|/1,420|
|Staff recruitment|||||14,436|4,354|
|Staff OSPS 8 DIS|||||12,237|2,432|
|Transfer from The Manchester||Metropolitan|Students'|Union||4,978,241|
|Repairs, maintenance|and premises costs||||536,992|492,942|
|Other direct costs|||||50,181|(2,712)|
|Governance
costs|||||8,704|10,206|
||||||2,345,953|7,084,447|
##
##
##
|Net inco|me/|(exp|enditure|)||||
|---|---|---|---|---|---|---|---|
|||||||2022|2021|
|||||||E||
|Depreciation||of|tangible|fixed assets:||||
|-owned|by|the|charitable||group|24,692|27,357|
|Auditor's|remuneration|||- audit||7,700|7,610|
|Other operating|||leases|||535,476|535,476|
|||||||567,868|570,443|
##
||Group|Group|Company|Company|
|---|---|---|---|---|
||2022|2021|2022|2021|
||E|E|E||
|Wages and salaries|1,689,131|1,220,942|1,689,131|1,220,942|
|Social security costs|131,254|107,376|131,254|107,376|
|Other pension costs|70,077|59,535|70,077|59,535|
||1,890,462|1,387,853|1,890,462|1,387,853|
##
##
##
|||Group|Group|
|---|---|---|---|
|||2022|2021|
|||No.|No.|
|Central||16|16|
|Shop||15|14|
|Student|Membership|9|10|
|Officers||5|4|
|Media||3||
|Cafe||20|13|
|Building|support|7|7|
|Marketing||9|9|
|Insight||1|2|
|Events||1||
|Academic Rep||4||
|Other cafe||1||
|Advice||9||
|Saluation||6||
|F8B||16||
|||122|84|
|Group|Group|
|---|---|
|2022|2021|
|No.|No.|
##
##
||Plant and|Fixtures|Office|Computer|Other fixed||
|---|---|---|---|---|---|---|
||machinery|and fittings|equipment|equipment|assets|Total|
||F|F|F|F|F|F|
|Cost or valuation|||||||
|At I August 2021|25,880||6,729|17,898|2,729|53,236|
|Additions|14,024|1,000||1,049||16,073|
|At 31 July 2022|39,904|1,000|6,729|18,947|2,729|69,309|
|Depreciation|||||||
|At 1 August 2021|14,929||2,067|9,110|1,251|27,357|
|Charge for the year|12,359|259|2,297|8,412|1,365|24,692|
|At 31 July 2022|27,288|259|4,364|17,522|2,616|52,049|
|Net book value|||||||
|At 31 July 2022|12,616|741|2,365|1,425|113|17,260|
|At 31July 2021|10,951||4,662|8,788|1,478|25,879|
##
##
##
##
||||||||||Listed|
|---|---|---|---|---|---|---|---|---|---|
|||||||||investments||
|Group|||||||||F|
|Cost or valuation||||||||||
|At 1 August 2021|||||||||1,824|
|At 31 July|2022||||||||1,824|
|Net book|value|||||||||
|At 31 July|2022||||||||1,824|
|At 31July|2021||||||||1,824|
|||||||Investments||||
|||||||in||||
|||||||subsidiary|Listed|||
|||||||companies|investments||Total|
|Company||||||F||F|F|
|Cost or valuation||||||||||
|At 1 August 2021|||||||1,824||1,825|
|At 31 July|2022||||||1,824||1,825|
|Net book|value|||||||||
|At 31 July|2022||||||1,824||1,825|
|At 31July|2021||||||/,824||1,825|
|All fixed asset investments||are|held|in the|UK.|||||
|Principal|subsidiaries|||||||||
|The following
was a subsidiary|||undertaking||ofthe Company:|||||
|Name|||||Company|Class of|Holding|Included|in|
||||||number|shares||consolidation||
|Manchester
Metropolitan||Students'||Union|09188480|Ordinary|100%|Yes||
|Trading|Limited|||||||||
##
|12.|Fixed asset|investments|(continued)|(continued)||||||
|---|---|---|---|---|---|---|---|---|---|
||Name|||||Income|Expenditure||Net assets|
|||||||F||f.|F|
||Manchester|Metropolitan|Students'|Union Trading||183,622||(183,622)||
||Limited|||||||||
|13.|Stocks|||||||||
||||||Group|Group||Company|Company|
||||||2022|2021||2022|2021|
||||||F|||F||
||Finished goods and goods||for resale||102,180|91,/63||96,390|86,671|
|14.|Debtors|||||||||
|||Group|Group|Company|Company|
|---|---|---|---|---|---|
|||2022|2021|2022|2021|
|||F||F||
|Trade debtors||40,280|16,365|34,653|16,365|
|Amounts
owed by group undertakings||||87,309|'/65, 430|
|Other debtors||3,663|29,558|3,641|29,161|
|Prepayments|and accrued income|50,041|29,117|43,626|29,117|
|Grants receivable|||27,012||27,012|
|||93,984|102,052|169,229|267,085|
||||Group|Group|Company|Company|
|---|---|---|---|---|---|---|
||||2022|2021|2022|2021|
||||F||F||
|Trade creditors|||120,019|26,697|100,080|25,555|
|Other taxation|and social security||38,199|30,277|34,290|30,277|
|Other creditors|||425,711|400,068|425,631|399,988|
|Accruals
and deferred||income|154,094|/50,406|151,469|147,996|
||||738,023|607,448|711,470|603,816|
##
||||||Group|Group|Company|Company|
|---|---|---|---|---|---|---|---|---|
||||||2022|2021|2022|2021|
||||||E||||
|Resources|deferred|during|the|year|49,428||49,428||
##
##
|||Group|Group|Company|Company|
|---|---|---|---|---|---|
|||2022|2021|2022|2021|
|||E||E||
|Other|creditors|5,256,113|5,512,015|5,256,113|5,512,015|
|||||||Group|.Group|Company|Company|
|---|---|---|---|---|---|---|---|---|---|
|||||||2022|2021|2022|2021|
|||||||E|E|f||
|Payable or repayable||by|instalments|||3,988,581|4,335,997|3,988,581|4,335,997|
|Financial|instruments|||||||||
|||||||Group|Group|Company|Company|
|||||||2022|2021|2022|2021|
|Financial|assets|||||||||
|Financial|assets measured|||at fair value||||||
|through|income and|expenditure||||43,943|45,923|125,603|210,986|
|||||||Group|Group|Company|Company|
|||||||2022|2021|2022|2021|
|||||||||F|E|
|Financial|liabilities|||||||||
|Other financial
liabilities|||measured||at fair|||||
|value through
income|||and|expenditure||5,955,936|6,089,186|5,933,292|6,085,554|
##
##
##
||||Balance at 1|||Transfers|Balance at|
|---|---|---|---|---|---|---|---|
||||August 2021|Income
F|Expenditure
E|in/out
E|31 July 2022
f|
|Unrestricted|funds|||||||
|Designated|funds|||||||
|Development|and Improvement||240,000||||240,000|
|General funds||||||||
|General
Funds|||1,238,278|4,342,982|(3,823,609)|(287,642)|1,470,009|
|Pension reserve|||(5,745,307)||(81,812)|309,625|(5,517,494)|
||||(4,507,029)|4,342,982|(3,905,421)|21,983|(4,047,485)|
|Total Unrestricted||funds|(4,267,029)|4,342,982|(3,905,421)|21,983|(3,807,485)|
|Restricted|funds|||||||
|Coronavirus|job retention|||||||
|scheme||||21,983||(21,983)||
|Total of funds|||(4,267,029)|4,364,965|(3,905,421)||(3,807,485)|
##
##
|||||||Transfers|Balance at|
|---|---|---|---|---|---|---|---|
|||||Income|Expenditure|in/out|31July 2021|
|||||||E||
||Unrestricted
funds|||||||
||Designated
funds|||||||
||Development
and Improvement|||||240,000|240,000|
||General funds|||||||
||General
Funds|||2,895,880|(7,420,326)|5,762,724|1,238,278|
||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|327,803||(327,803)||
||Total offunds|||3,223,683|(7,490,712)||(4,267,029)|
|19.|Analysis
of net assets between funds|||||||
||Analysis of net assets between funds - current year|||||||
|Analysis|of n|et assets between funds - current year|||
|---|---|---|---|---|
||||Unrestricted|Total|
||||funds|funds|
||||2022f|2022f|
|Tangible|fixed|assets|17,260|17,260|
|Fixed asset investments|||1,824|1,824|
|Current|assets||2,167,567|2,167,567|
|Creditors|due|within one year|(738,022)|(738,022)|
|Creditors|due|in more than one year|(5,256,113)|(5,256,113)|
|Difference|||(1)|1|
|Total|||(3,807,485)|(3,807,485)|
##
|Analysis|of n|et assets between funds - prior y|ear|||
|---|---|---|---|---|---|
||||Unrestricted|Restricted|Total|
||||funds|funds|funds|
||||2021|2021|2021|
|||||E||
|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)||(5,512,015)|
|Total|||(4,267,029)||(4,267,029)|
||||||||||||||Group|Group|
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
||||||||||||||2022|2021|
||||||||||||||f.|E|
||Net
income/expenditure|||for|the||year|(as|per|Statement|of|Financial|||
||Activities)||||||||||||459,544|(4,267,029)|
||Adjustments|for:|||||||||||||
||Depreciation|charges|||||||||||24,692|27,357|
||Decrease
in|stocks|||||||||||(11,016)|33,576|
||Decrease
in|debtors|||||||||||46,653|156,603|
||(Decrease)|in creditors|||||||||||(163,914)|(909,385)|
||Assets donated
from||predecessor|||charity||||||||(2,050,607)|
||Liabilities
inherited
from predecessor||||||charity|||||||7,028,848|
||Net cash provided||by|operating||activities|||||||355,959|19,363|
|21.|Analysis ofcash and|||cash equivalents|||||||||||
||||||||||||||Group|Group|
||||||||||||||2022|2021|
||Cash
in hand||||||||||||1,971,403|1,631,516|
||Total cash|and cash equivalents|||||||||||1,971,403|1,631,5'/6|
##
##
|||||||At|1August||At 31 July|
|---|---|---|---|---|---|---|---|---|---|
||||||||2021|Cash flows|2022|
||||||||f.|f.||
|Cash|at|bank|and|in|hand||1,631,516|339,887|1,971,403|
||||||||1,631,516|339,887|1,971,403|
##
##
##
##
##
##
|under non|-can|cellable
operating
leases as follo|ws:||||
|---|---|---|---|---|---|---|
||||Group|Group|Company|Company|
||||2022|2021|2022|2021|
||||F|E|E|E|
|Not later than||1 year|538,728|535,476|538,728|535,476|
|Later than|1 year and not later than 5 years||1,283,952|1,606,248|1,283,952|1,606,248|
||||1,822,680|2,141,724|1,822,680|2,141,724|
##
|||2022|2021|
|---|---|---|---|
|||E|E|
|Recurrent|Grant Receivable|2,088,615|1,858,800|
|Sale of Goods and Services||112,484|80,173|
|Purchases|of Goods and Services|540,926|488,787|
|Rent||213,000|213,000|
|Service Charge||322,476|322,476|
|Amounts|due from the University|1,056||
##