2023-07-31-accounts - The Union, Mmu

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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			23-46

Trustees				LJones (reeigned 30 June 2023)	LJones (reeigned 30 June 2023)
				S Campbell
				J Killick
				I iftikhar (resigned 30 June 2023)
				SE Ibifunmilola (resigned 30June 2023)
				S Islam
				P8 Crews (resigned	22 February	2023)
				JCoe (resigned 31August 2023)
				M Winterbottom (appointed 1 September 2022)
				N Ahmed (appointed	1 September	2022)
				SShanab (appointed	1 September 2022)
				ERomer (appointed	1 July 2023)
				I Nadeem (appointed	1 July 2023)
				S Punhani (appointed	1 July 2023)
				S Dodsworth (appointed 1 July 2023)
Company	registered
number				12714026
Charity registered number				1191269
Registered		office		21 Higher Cambridge	Street
				Manchester
				M15 SAD
Chief executive officer				M Robinson
Senior leadership			team	M Robinson, Chief Executive Officer P Norman, Head of Membership Development
				STaylor-Wren, Head	of Insight
				LWhite, Head of Finance L Performance
				L Edwards, Head ofPeople
				J 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

		Unrestricted	Total	Total
		funds	funds	funds
		2023	2023	2022
	Note	F	6	6
Income from:
Donations and legacies		2,821,946	2,821,946	2,793,101
Other trading activities		1,740,580	1,740,580	1,571,179
Investments		7,273	7,273	685
Total income		4,569,799	4,569,799	4,364,965
Expenditure on:
Raising funds		1,748,454	1,748,454	1,559,458
Charitable activities		2,504,836	2,504,836	2,345,953
Total expenditure		4,263,290	4,253,290	3,905,421
Net movement in funds before other recognised gains		316,509	316,509	459,544
Other recognised gains:
Gains on revaluation of pension scheme		479,354	479,354
Net movement in funds		795,863	795,863	459,544
Reconciliation offunds:
Total funds brought forward		(3,807,485)	(3,807,485)	(4,267,029)
Net movement in funds		796,863	796,863	459,544
Total funds carried forward		(3,011,622)	(3,011,622)	(3,807,485)

						2023		2022
				Note		E		E
Fixed assets
Tangible assets				12		75,533		17,260
Investments				13		1,824		1,824
						77,357		19,084
Current assets
Stocks				14	111,514		102,180
Debtors				15	80,040		93,984
Cash at bank and	in hand				1,921,478		1,971,403
					2,113,032		2,167,567
Creditors: amounts	falling due within		one
year				16	(581,894)		(738,023)
Net current assets						1,531,138		1,429,544
Total assets less	current liabilities					1,608,495		1,448,628
Creditors: amounts	falling due afier mors
than one year				17		(4,620,117)		(5,256,113)
Total net liabilities						(3,011,622)		(3,807,485)
Charity funds
Restricted funds				19
Unrestricted funds
Designated funds				19	240,000		240,000
Unrestricted funds	excluding	pension	liability	19	1,526,497		1,470,009
Pension reserve				19	(4,778,119)		(5,517,494)
Total unrestricted	funds			19		(3,011,622)		(3,807,485)
Total funds						(3,011,622)		(3,807,485)

				Note		2023f		2022 5
Fixed assets
Tangible assets				12		27,346		17,260
Investments				13		1,825		1,825
						29,171		19,085
Current assets
Stocks				14	102,663		96,390
Debtors				15	134,013		169,229
Cash at bank and	in hand				1,886,752		1,875,394
					2,123,328		2,141,013
Creditors; amounts	falling due within		one
year				16	(544,004)		(711,470)
Net current assets						1,579,324		1,429,543
Total assets less	current liabilities					1,608,495		1,448,628
Creditors: amounts than one year	falling due aRer more			17		(4,620,117)		(5,255,113)
Total net assets						(3,011,622)		(3,807,485)
Charity funds
Restricted funds				19
Unrestricted funds
Designated funds				19	240,000		240,000
Unrestricted funds	excluding	pension	liability	19	1,526,497		1,470,009
Pension reserve				19	(4,778,119)		(5,517,494)
Total unrestricted	funds					(3,011,622)		(3,807,485)
Total funds						(3,011,622)		(3,807,485)

				2023	2022
				6	E
Cash flows from operating	activities
Net cash provided by operating activities				25,204	355,960
Cash flows from investing	activities
Purchase oftangible fixed assets				(75,129)	(16,073)
Net cash provided by investing activities				(75,129)	(16,073)
Change in cash and cash	equivalents	in	the year	(49,925)	339,887
Cash and cash equivalents	at the beginning		ofthe year	1,971,403	1,631,516
Cash and cash equivalents	at the end	of	the year	1,921,478	1,971,403
The notes on pages 23to 46 form part ofthese financial statements

			Unrestricted	Restricted	Total
			funds	funds	funds
			2023	2023	2023
			F	5	E
Block grant			2,208,590		2,208,590
Top up grant			613,356		613,356
			2,821,946		2,821,946
			Unrestricted	Restricted	Total
			funds	funds	funds
			2022	2022	2022
			F	6
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
Income from other trading		activities
Income from fundraising		events

		Unrestricted	Total
		funds	funds
		2023	2023
		F	E
Commercial		1,233,794	1,233,794
Totum	Card	1,874	1,874
Media		53,702	53,702
Trading	Subsidiary	451,210	451,210
		1,740,580	1,740,580

Income	from fundraising events (continued)
		Unrestricted	Total
		funds	funds
		2022f	2022 K
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

Unrestricted	Total
funds	funds
2023	2023
7,273	7,273
Unrestricted	Total
funds	funds
2022	2022
6
685	685

				Unrestricted
				funds	Total
				2023	2023
				5	E
	Advancement	of education		2,504,835	2,504,836
				Unrestricted
				funds	Total
				2022	2022
				5	5
	Advancement	of education		2,345,953	2,345,953
7.	Expenditure	on raising funds
	Costs of raising voluntary		income

					Unrestricted	Total
					funds	funds
					2023	2023
					F	5
Bar, shop		and building		support	775,352	775,362
Freshers		costs			22,781	22,781
Trading	subsidiary		costs		405,875	405,875
Ambassador costs					4,119	4,119
Voluntary		income staff		costs	532,172	532,172
Voluntary		income depreciation			8,145	8,145
					1 748454	1 748454

					Unrestricted	Total
					funds	funds
					2022	2022
					E	E
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

			Activities
			undertaken	Total
			directly	funds
			2023	2023
			E	E
Total	direct	costs	2,504,836	2,504,836
			Activities
			undertaken	Total
			directly	funds
			2022	2022
			E	E
Total	direct	costs	2,345,953	2,345,953

		Total	Total
		funds	funds
		2023f	2022
Staff costs		1,419,267	1,320,018
Depreciation		8,045	15,598
Staff travel 8 hospitality		13,150	8,946
Training		36,792	27,676
SUSS pension costs		78,273	81,812
Printing, postage and stationary		5,738	5,535
Banking and transaction	charges	9,657	4,823
Legal and professional	fees	74,851	63,719
Campaigns		17,400	6,712
Welcome costs		15,572	8,176
Insurance		40,890	31,739
Computer and office equipment		18,277	11,596
Licenses, subscriptions	and affiliations	64,319	58,069
Marketing and research		9,336	4,383
Website costs		9,153	9,147
Opportunities and volunteering		20,932	14,864
Project funding		10,412	50,590
Staff recruitment		43,886	14,436
Staff OSPS & DIS		10,493	12,237
Repairs, maintenance	and premises costs	538,174	536,992
Other direct costs		50,059	50,181
Governance costs		10,260	8,704
		2,504,836	2,345,953

Net income/(expenditure	)
						2023	2022
							E
Depreciation oftangible fixed assets: -owned by the charitable group						16,857	24,692
Other operating leases						535,476	535,476
						652,333	560,168
Auditors' remuneration
						2023	2022
						E	E
Fees payable to the Company's annual accounts			auditor	for	the audit ofthe Company's	10,126	8,840
Fees payable to the Company's			auditor	in	respect of:
All taxation advisory services not included					above	375	335
All assurance services	not	included above				2,275	2,000

Staff costs
	Group	Group	Company	Company
	2023	2022	2023	2022
	E	E		E
Wages and salaries	1,719,366	1,689,131	1,719,366	1,689,131
Social security costs	150,047	131,254	150,047	131,254
Other pension costs	82,027	70,077	82,027	70,077
	1,951,440	1,890,462	1,961,440	1,890,462

			Group	Group
			2023	2022
			No.	No.
Central			9	16
Shop			17	15
Student	Membership		7	9
Officers			5	5
Media			3	3
Cafe			9	20
Building	support		8	7
Marketing			9	9
Insight			3	1
Events			1	1
Academic Rep			4	4
Other cafe			2	1
Advice			9	9
Salvation			12	6
F&B			25	16
International		Organisers	2
BAME Ambassadors			5
			128	122

Group	Group
2023	2022
No.	No.

	Plant and	Fixtures	Office	Computer	Other fixed
	machinery	and fittings	equipment	equipment	assets	Total
	E	E	E	E	E	F.
Cost or valuation
At 1 August 2022	39,903	1,000	6,730	18,947	2,729	69,309
Additions	12,001			14,940	48,188	75,129
At 31 July 2023	51,904	1,000	6,730	33,887	50,917	144,438
Depreciation
At 1 August 2022	27,288	259	4,364	17,522	2,616	62,049
Charge for the year	8,197	667	2,297	5,582	113	16,856
At 31 July 2023	35,485	926	6,661	23,104	2,729	68,905
Net book value
At 31 July 2023	16,419	74	69	10,783	48,188	75,533
At 31 July 2022	12,615	741	2,366	1,425	113	17,260

	Plant and	Fixtures	Office	Computer	Other fixed
	machinery F	and fittings F	equipment K	equipment E	assets 6	Total E
Cost or valuation
At 1 August 2022	39,903	1,000	6,730	18,947	2,729	69,309
Additions	12,001			14,940		26,941
At 31 July 2023	51,904	1,000	6,730	33,887	2,729	96,250
Depreciation
At 1 August 2022	27,288	259	4,364	17,522	2,616	52,049
Charge for the year	8,197	667	2,297	5,582	113	16,866
At 31 July 2023	35,485	926	6,661	23,104	2,729	68,905
Net book value
At 31 July 2023	16,419	74	69	10,783		27,345
At 31 July 2022	12,615	741	2,366	1,425	113	17,260

					Listed
					investments
Group					5
Cost or valuation
At 1 August 2022					1,824
At 31 July 2023					1,824
Net book value
At 31 July 2023					1,824
At 31 July 2022					1,824
			Investments
			in
			subsidiary	Listed
Company			companies 5	investments 5	Total
Cost or valuation
At 1 August 2022			1	1,824	1,825
At 31 July 2023			1	1,824	1,825
Net book value
At 31 July 2023			1	1,824	1,825
At 31 July 2022			1	1,824	1,825
All fixed asset investments	are held	in the UK.

Principal su	bsidiaries	bsidiaries
The following	was a subsidiary		undertaking		ofthe Company:
Name					Company number	Class of shares	Holding	Included in consolidation
Manchester	Metropolitan	Students'		Union	09188480	Ordinary	100%	Yes
Trading Limited

13.	Fixed asset investments	Fixed asset investments	Fixed asset investments	(continued)	(continued)
	The financial		results ofthe subsidiary		for the year	were:
	Name						Income Expenditure		Net assets
							E	E	E
	Manchester		Metropolitan	Students'	Union Trading		451,210	(405,875)
	I imited
14.	Stocks
						Group	Group	Company	Company
						2023	2022	2023	2022
							E	E
	Finished	goods and goods for resale				111,514	102,180	102,563	96,390
15.	Debtors
						Group	Group	Company	Company
						2023	2022	2023	2022
						E	E	F	E
	Due within one year
	Trade debtors					13,700	40,280	7,103	34,653
	Amounts	owed by group		undertakings				70,645	87,309
	Other debtors					22,992	3,663	22,989	3,641
	Prepayments		and accrued income			43,348	50,041	33,276	43,626
						80,040	93,984	134,013	169,229

Creditor	s: Am	ount		s	falling due	within one y	ear
							Group	Group	Company	Company
							2023	2022	2023	2022
								f.	E	E
Trade creditors							75,258	120,019	59,659	100,080
Other taxation		end		social security			48,310	38,199	36,494	34,290
Other creditors							319,066	425,711	318,987	425,631
Accruals	and deferred				income		139,260	154,094	128,864	151,469
							581,894	738,023	544,004	711,470
							Group	Group	Company	Company
							2023	2022	2023	2022
							E	E	E	E
Deferred	income at			1	August		49,428		49,428
Resources deferred				during the year			36,933	49,428	36,933	49,428
Amounts	released		from previous			periods	(49,428)		(49,428)
							36,933	49,428	36,933	49,426

								Group	Group	Company	Company
								2023	2022	2023	2022
									E	F.	E
	Other creditors							4,620,117	5,255,113	4,620,117	5,256,113
	The aggregate		amount		of	liabilities	payable	or repayable wholly	or in part more	than five	years after the
	reporting	date	is:
								Group	Group	Company	Company
								2023	2022	2023	2022
								F	E	E	E
	Payable or repayable			by	instalments			3,879,951	3,988,581	3,879,951	3,988,581
18.	Financial	instruments
								Group	Group	Company	Company
								2023	2022	2023	2022
									E	E	E
	Financial	assets
	Financial	assets measured				at fair value
	through	income and		expenditure				36,692	43,943	100,737	125,603
								Group	Group	Company	Company
								2023	2022	2023	2022
								E	E	E	E
	Financial	liabilities
	Other financial		liabilities		measured		at fair
	value through		income		and expenditure			5,153,701	5,955,936	5,124,627	5,933,292

Statement offu	nds - current yea	r
	Balance at 1			Transfers	Gains/	Balance at
	August 2022 E	Income F	Expenditure E	in/out f	(Losses) E	31July 2023 E
Unrestricted
funds
Designated
funds
Development
and
Improvement	240,000					240,000
General funds
General Funds	1,470,009	4,569,799	(4,175,017)	(338,294)		1,526,497
Pension
Reserve	(5,517,494)		(78,273)	338,294	479,354	(4,778,119)
	(4,047,485)	4,569,799	(4,253,290)		479,354	(3,251,622)
Total
Unrestricted funds	(3,807,485)	4,569,799	(4,253,290)		479,354	(3,011,622)

Statement	offunds	- prior year
			Balance at
			1 August			Transfers	Balance at
			2021 E	Income 6	Expenditure F	In/out	31 July 2022f
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
Revaluation	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 scheme	job retention			21,983		(21,983)
Total offunds			(4,267,029)	4,364,965	(3,905,421)		(3,807,485)

Analysis ofn	et assets between funds -current year
		Unrestricted	Total
		funds	funds
		2023	2023
		E	F.
Tangible fixed	assets	75,533	75,533
Fixed asset investments		1,824	1,824
Current assets		2,113,032	2,113,032
Creditors due	within one year	(581,894)	(581,894)
Creditors due	in more than one year	(4,620,117)	(4,620,117)
Total		(3,011,622)	(3,011,622)

Analysis ofn	et assets between funds -prior year
		Unrestricted	Total
		funds	funds
		2022	2022
		E	E
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	(738,023)	(738,023)
Creditors due	in more than one year	(5,256,113)	(5,256,113)
		(3,807,485)	(3,807,485)

21.	Reconciliation	Reconciliation	Reconciliation	of net	of net	movement	in funds	to net cash flow from operating	to net cash flow from operating	to net cash flow from operating	activities
											Group	Group
											2023	2022
												E
	Net income		for the year (as per Statement					of Financial	Activities)		316,509	459,544
	Ad/ustments			for:
	Depreciation		charges								16,857	24,692
	Increase	in	stocks								(9,335)	(11,016)
	Decrease	in	debtors								13,946	46,653
	(Decrease)		in	creditors							(312,773)	(163,914)
	Net cash	provided			by	operating	activities				25,204	355,959
22.	Analysis	ofcash and				cash equivalents
											Group	Group
											2023	2022
											E	6
	Cash in hand										1,921,478	1,971,403
	Total cash		and cash			equivalents					1,921,478	1,971,403
23.	Analysis	ofchanges				in net debt
									At	1 August		At 31July
										2022	Cash flows	2023
												6
										F
	Cash at bank			and in	hand					1,971,403	(49,925)	1,921,478
										1,971,403	(49,925)	1,921,478

under non	-can	cellable operating leases as follo	ws:
			Group	Group	Company	Company
			2023	2022	2023	2022
			E	E	6	E
Not later than		1 year	535,476	538,728	535,476	538,728
Later than	1 year and not later than 5years		748,476	1,283,952	748,476	1,283,952
			1,283,952	1,822,680	1,283,952	1,822,680

		2023	2022
			E
Recurrent	Grant Receivable	2,151,274	2,088,615
Sale ofGoods and Services		124,545	112,484
Purchase	ofGoods and Services	651,562	540,926
Rent		213,000	213,000
Service Charge		322,476	322,476
Amounts	due from the Unviersity		1,056
Amounts	due to the University	9,452