2021-09-30-accounts - The Credit Union Foundation

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

			Page
Reference and administrative detags ofthe charity, its trustees		and advisers
Trustees' report			2-5
Independent examined	s report
Statement offinancial	activities
Balance sheet
Notes to the financial	statements		9-19

REFERENCE AND ADMINISTRATIVE	REFERENCE AND ADMINISTRATIVE	REFERENCE AND ADMINISTRATIVE	DETAILS OF THE COMPANY, ITSTRUSTEES AND ADVISERS	DETAILS OF THE COMPANY, ITSTRUSTEES AND ADVISERS
		FOR THE YEAR ENDED 30		SEPTEMBER2021
Trustees		Lord Roy Kennedy	ofSouthwark,	President
		KBennett
		R Munro
		D Martin
		A Pask
		DVsar
Company	registered
number		04283557
Charity registered
number		1096199
Registered	office	Holyoake House
		Hanover Street
		Manchester
		M60 OAS
Company	secretary	Robert Kelly
Chief executive officer		Robert Kelly
Accountants		Crows U.K. LLP
		3rd floor
		The Lexicon
		Mount Street
		Manchester
		M2 5NT
Bankers		The Co-operative	Bank pic
		Balloon Street
		Manchester
		M60 4EP

				Unrestricted	Restricted	Total	Total
				funds	funds	funds	funds
				2021	2021	2021	2020
			Note	5	5	8
Income from:
Donations and legacies Charitable activities			2 3	3,116 35,614	52,370	3,116 87,984	14,200 138,849
Investments							244
Total income				38,730	52,370	91,100	153,293
Expenditure on:
Raising funds Charitable activities			7,4	266 39,600	44,125	266 83,725	266 1,062,223
Total expenditure			8	39,866	44,125	83,991	1,062489
Net Income /(expenditure)		before transfers		(1,136)	8,245	7,109	(909,196)
Transfers between	Funds		13	4,855	(4,855)
Net income I(expenditure) before other recognised gains and losses				3,719	3,390	7,109	(909,195)
Net movement In	funds			3,719	3,390	7,109	(909,196)
Rsconclgatlon of	funds:
Total funds brought	forward			42,037	131,941	173,978	1,083,174
				45,756	135,331	181,087	173,978
Total funds carried forward

			Note		2021 6		2020f
Current assets
Debtors			11	1,808		7,478
Cash at bank	and in	hand		181,770		173,353
				183,578		180,831
Creditors: amounts year		falling due within one	12	(2,491)		(6,853)
Net current	assets				181,087		173,978
Net assets					181,087		173,978
Charity Funds Restricted funds			13		135,331		131,941
Unrestricted	funds		13		45,756		42037
Total funds					181,087		173,978

Analysis ofexpenditure on charita	ble activities
	Unrestricted	Restricted	Total	Tote/
	funds	funds	funds	funds
	2021 6	2021 6	2021f	2020 6
Direct and support costs	37,459	44,125	81,584	54,214
Uoyds project - grants made				999,239
	37,459	44,125	81,584	1,053,453
Total 2020	32,532	1,020,921	1,053,453
Direct costs
			Total	Total
		Activitiesf	2021	2020 6
CU Futures project		44,125	44,125	21,666
NFCDCU conference costs				(4)
Staff expenses				10
		44,125	44,125	21,692
Total 2020		21,692	21,692

Support
			Total	Total
		Activities	2021	2020
		8	6
Donated administration Insurance Bank charges	and finance support	34,697 2,726 36	34,697 2,726 36	29,884 2,602 36
		37,459	37,459	32,522
Total 2020		32522	32522

		Unrestricted	Restricted	Total	Total
		funds	funds	funds	funds
		2021 9	2021 6	2021f	2020 5
Internal audit costs Fees for independent Legal fess	examination	648 1,440 53		648 1,440 53	1,994 6,420 356
		2,141		2,141	8,770

	Analysis ofExpenditure		by expenditure	type
				Staff	costs	Other costs	Total	Total
					2021 6	2021 6	2021 6	2020f
	Fundraising costs					266	266	266
	Costs of raising funds					266	266	266
	Direct and support coats Lloyds project - grants made					81,584	81,584	54,214 999,239
	Charitable activities					81,684	81,584	1,053,453
	Expenditure on governance					2,141	2,141	8, TZO
						83,991	83,991	1,062,489
	Total 2020				10	1,062,479	1,062,489
9.	Net inoome/(expenditure)
	This is stated afler charging:
							2021	2020f
	Auditor's remuneration Auditor's remuneration	- -	audit other services				1,440	5,520 900

10.	Staff costs
	Staff costs were as follows:
									2021f	2020f
	Staff expenses									10
	The average	number		of persons	employed		by	the Company	during the year was as follows:
									2021	2020
	No employee		received	remuneration		amounting		to more than	f60,000 in either year.
11.	Debtors
									2021f	2020f
	Prepayments		and accrued Income						1,808	7,478
12.	Crsdltorsr	Amounts		falling due	within		one year
									2021f	2020f
	Trade creditors Accruals and deferred			income					1,198 1,293	302 6,551
									2,491	6,853

						Balance at
		Balance at				30
		1 October			Transfers	September
		2020f	Income f	Expenditure f	in/out f	2021 f
Designated Fund		2,490			744	3,234
General Funds		39,547	38,730	(39,866)	4,111	42,522
Total Unrestricted	funds	42,037	38,730	(39,866)	4,855	45,756
Restricted funds
History project NFCDCUtrlps CU Futures Program Field research project Market research project Gamble Project DEEU programme		24,687 32,270 49,138 10,000 15,000 846	24,198 14,072 500 13,600	(27,510) (1,800) (14,815)	(3,055) - (1,800)	18,320 30,470 46,595 10,000 15,000 1,346 13,600
		131,941	52,370	(44,125)	(4,855)	135,331
Total offunds		173,978	91,100	(83,991)		181,087
Statement offunds - prior year
						Balance at
		Balance st				30
		1 October			Transfers	September
		2019f	Income	Expendituref	in/out	2020f
Designated Fund					2,490	2,490
General Funds		29,584	50,828	(35,375)	(2,490)	39,547

Analysis ofnet assets between funds -current year
	Unrestrtcted	Restricted	Total
	funds	funds	funds
	2021 6	2021f	2021f
Current assets	48,247	135,331	183,578
Creditors due within one year	(2,491)		(2,491)
	45,756	135,331	181,087
Analysis of net assets between funds -prior year
	Unrestricted	Restricted	Total
	funds	funds	funds
	2020f	2020f	2020f
Current assets	48,690	131,941	180,831
Creditors due within one year	(6,853)		(6,853)
	42,037	131,941	173,978

15.	Reconciliation of net	Reconciliation of net	Reconciliation of net	movement	In funds to net cash flow from operating	activities
						2021f	2020f
	Net income/(expenditure)			for the	year (as per Statement ofFinancial
	Activities)					7,109	(909,196)
	Adjustment	for:
	Decrease in	debtors				5,670	995,239
	Increase/(decrease)		in	creditors		2,022	(10,057)
	Net cash provided		by	operating	activities	14,801	75,986
16.	Analysts of	cash and		cash equivalents
						2021	2020
	Cash in hand					169,290	173,353
	Total					169,290	173,353