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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|||
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|||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||||||
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##
||||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)|
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|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)|
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|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)|
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|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|
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|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|
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|||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||
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