Registered number: 04283557
Charity number: 1096199
THE CREDIT UNION FOUNDATION
{A company limited by guarantee)
UNAUDITED
TRUSTEES. REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

THE CREDIT UNION FOUNDATION
IA company Ilmlted by guarantse)
CONTENTS
Page
Reference and administrativo dotails of the Company, its Trustees and advlsers
Trustees, report
Independent examIne￿S rèport
Statement of flnancial activities
Balance sheet
Notes to the financlal statements
9-21

THE CREDIT UNION FOUNDATION
IA company Ilmited by guarnntee)
REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY, ITS TRUSTEES AND ADVISERS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
Company registered
number
04283557
Charity registsred
number
1096199
Registered offlce
Holyoake House
Hanover Street
Manchester
M60 OAS
Company secretary
Robert Kelly
Chief executive officer
Robert Kelly
A¢Gountants
Crowe U.K. LLP
3rd floor
St George's House
56 Peter Street
Manchester
M2 3NQ
Bankers
The Co-operative Bank pl¢
Balloon Street
Manchester
M60 4EP
Page 1

THE CREDIT UNION FOUNDATION
{A company limited by guarantee}
TRUSTEES. REPORT
FOR THE YEAR ENDED 30 SEPTEMBER 2024
The trustees of the chartty present their annual report and the financial statements for the year ended 30
September 2024
STRUCTURE, GOVERNANCE AND MANAGEMENT
status and Administration
The company is a registered charily and a company limited by guarantee and is governed by its Memorandum
and Articles of Association. Membership of the Foundation is open to directors of the Association of British Credit
Unions Limited IABCUL) and persons appointed by the directors ofABCUL. Upon admission to membership,
members are automatically appointed as trustees. Trustees continue to serve until Ihey resign, are removed
from membership by the directors of ABCUL or cease to be legally eligible to serve as charity trustees or
company directors.
Administrative services are provided by ABCUL.
The directors of the charitable company (the charity) are its trustees for the purpose of charity law and directors
for the purpose of company law, The trustees who seNed the charity during the year were as follows..
Lord Roy Kennedy of Southwark (end of lemi 29105124)
Robert Kelly (Secretary)
Paul Norgrove
Richard Munro (end of temi 16103124)
Alison Pask
Dawn Vear
Emily Harrison (appointed 29105124)
Te￿s8 Manning (appointed 18103124)
AppolntmenL Induction and training of trustees
Trustees appointed to the Credit Union Foundation Board have all come to the role with a wealth of experience in
either the credit union sector or financial services sector. All trustees are made aware of the role and remit of
the Credit Union Foundalion, are kept up to date with information and Iraining opportunities to help them in their
roles. They are also updaled wilh any changes to relevant legislation and guidance from the Charity
Commission regarding their legal responsibilities.
Organisational Structure
Alison Pask is now the Chair following the departure of Lord Kennedy (end of term).
Paul Norgrove, as ABCUL President continued as ABCUL TTUStee during the year.
Teresa Manning was appointed to replace Richard Munro as the 5e¢ond ABCUL Trustee.
Dawn Vear continued in her role as an Independent Trustee of the Foundation.
Emily Harrison joined as an Independent Trustee of the Foundalion during the year.
Robert Kelly continues as Company Secretary by virtue of being Chief ExeGutive of ABCUL.
The ABCUL Board is in the prO￿sS of recruiting two new independent trustees who should join the Trustee
Board during 2025.
The Board currently consists of six Trustees-two ABCUL Directors.. Paul Norgrove and Teresa Manning and
three Independent Directors (with Iwo vacant positions).. Alison Pask (Chair), Dawn Vear and Emily Harrison
Robert Kelly continues to serve as Company Secretary.
Page 2

THE CREDIT UNION FOUNDATION
(A company limlted by guarantse)
TRUSTEES, REPORT (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
Risk review
The trustees have continued to assess the major risks that the charity could potentially be exposed to,
particulaTiy in relation to operations and the financial management of the Charity. Trustees have developed a
Collective understanding of risk and continue to amend their risk register to refled current and potential risks for
the Foundation. The trustees are satisfied that systems are in place to mitigate the associated risks.
OBJECTIVES AND ACTIVITIES
The objects for which it is estsblished are-.
(a) To advance education amongst the publiG in matters pertaining lo credil unions and their potential in relieving
povety and need, and to provide education and training in the knowledge and skills pertinent to the
establishment and management of Credit unions-,
(b) To relieve poverty and need amongst communities in the United Kingdom and throughout the World which
are in need of such relief, by adw5ing needy persons within those communities how to establish and manage
credit unions.
(c) To relieve povety by providing grants, items, support and other services to credit unions to allow them to
extend Iheir services to individuals in need andlor charities, or other organisations working to prevent or relieve
poverty
In fvrtherance of the above objectives, Ihe foundation shall have the following powers..
(a) To publish books, pamphlets. reports, leaflets. journals. films and instructional matter.,
(b) To commission and undertake and publish the useful results of research, and to run lectures. seminars,
conferences and courses;
(c) To provide financial, technical and educational assistance in connection with projects and purposes which will
further the objects of the Foundation.,
{d) To receive donations, endowments, sponsorship fees, subscriptions and legacies from persons desirin9 to
promote the Foundation's objects or any oflhem and to hold funds in trust for same.,
The trustees confinn that they have referred to the guidance contained in the Charity Commission's general
information on public benefft when reviewing the Foundation's aims and objectives and in planning future
activities.
The Foundation regularfy reviews its Trustee Board Policy Manual. monitors performance against it and
inlroduces changes where necessary.
ACHIEVEMENTS AND PERFORMANCE
Foundation activities were able to resume inwperson, but some activty remained on-line
The eighth year of the CU Futures programme Concluded in March 2024 and the year 9 programme was
launched. The participants have been meeting in person for most of their activities. The graduation ceremony for
year eight was held at the ABCUL Annual ConferenrE in March 2024. The programme has now graduated 80
individuals across 8 years and has 8 more preparing to graduate at the Annual Conference in March 2025.
The DEEU programme took place in September 2024 in Edinburgh. The event was attended by 36 delegales
and the programme location. date and details have already been confirmed for the 2025 programme.
Page 3

THE CREDIT UNION FOUNDATION
(A Gompany limited by guarantee)
TRUSTEES. REPORT {CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
FINANCIAL REVIEW
Main funding sources and expenditure
Peach State Credit Union continued their generous donation towards the CU Futures programme for whith
£18,284 was received during the year along with other donations from credit unions amounting to £19,850. The
DEEU event held in September 2024 generated a surplus of £7,852 after all costs were covered and a
contribution made towards overheads of £3,456.
Resorves pollcy
The trustees recognise the need for Ihe charity to establish and maintain reserves to enable it to carry out its
charitable objectives in the event of unforeseeable matters arising. Where funds are generated for specific
purposes, they are held as restricted funds, as detailed in notes 12. Where funds are available for use al the
discretion of the trustees, they are held in unrestricted funds. At the balance sheet date there were unrestricted
funds of £ 48,376
Future developments
Plans are in place for the DE Europe programme which is now expected to be hosted in Dublin funded by fees
paid directly by credit unions and individuals. with some funds already raised for a scholarship programme. The
CU Futures programme will continue for a tenth intake, funded through donations from credit unions and
individuals. Graduates from the ninth programme will celebrate at a ceremony in March 2025. Trustees are also
exploring the development of a Leadership and Management School and funding and partnership opportunities
are being examined.
STATEMENT OF TRUSTEES. RESPONSIBILITIES
The trustees (who are also directors of The Credit Union Foundation for the purposes of company lawl are
responsible for preparing the trustees, Annual Report and the financial statements in accordance with applicable
law and United Kingdom Generally Accepted Accounting Practice (United Kingdom A￿QUntirI9 Standards).
Company law requires the trustees to prepare financial statements for each financial year. Under company law
the trustees must nol approve the financial slatements unless they are satisfied that they give a true and fair view
of the state of affairs of the charitable company and of the inwming resour￿S and application of resources.
including the income and expenditure, of the charitable company for that period. In preparing these financial
statements, the Trustees are required to:
select suitable accounting policies and then apply them consistentty.,
obseNe the methods and prinaples in the Charities SORP.
make judgments and estimates that are reasonable and prudent:
state whelher applicable UK accounting standards have been followed, subject to any material departures
disclosed and explained in the financial statements.. and
prepare the financial statements on the going concem basis unless it is inappropriate to presume that the
charitable company will continue in business.
The trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the
Gharitsble companrfs transactions, disclose with reasonable accuracy at any time the financial position of the
charitable company and enable them to ensure that the financial stalements comply with the Companies Ad
2006 and the provisions of the Charity's constitution. They are also responsible for safeguarding the assets of the
charity and hence for taking reasonable steps for the prevention and detection of fraud and other i￿egUlarities.
Page 4

THE CREDIT UNION FOUNDATION
(A company limlted by guarantse)
TRUSTEES. REPORT ICONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
DISCLOSURE OF INFORMATION TO INDEPENDENT EXAMINER
Insofar as each of the tfustees of the charity at the date of approval of this report is aware there is no relevant
financial information (information needed by the charity's independent examiner in connection with preparing
their report) of which the charitls independent examiner is unaware. Each trustee has taken all of the steps that
helshe should have taken as a Irustee in order to make himselflherself aware of any relevant information and to
establish that the chari1￿5 independent examiner is aware of that information.
INDEPENDENT EXAMINER
Following a tender process conducted during the year, Crowe U.K. LLP were appointed as independent
examiner to the charity.
Approved by order of the members of the board of Trustees on 27 February 2025 and signed on Iheir behalf by:
Page 5

THE CREDIT UNION FOUNDATION
(A company limited by guaranlee)
INDEPENDENT EXAMINER'S REPORT
FOR THE YEAR ENDED 30 SEPTEMBER 2024
Independent Examinerfs Report to the Trustees of The Credit Union Foundation ('the Compan￿)
I report to the charity Trustees on my examination of Ihe account5 of the Company for the year ended 30
September 2024.
Responsibilitles and Ba$ls of Report
As the Trustees of the Company {and its directors for the purposes of Company law) you are responsible for the
preparation of the accounts in accordance with the requirements of the Companies Act 2006 Cthe 2006 Act,).
Having satisfied myself that the accounts of the Company are not required lo be audited under Part 16 of the
2006 Act and are eligible for independent examination, I report in respecl of my examination of the Companys
accounts carried out under section 145 of the Charities Aot 2011 rthe 2011 Act,). In carrying out my examination
I hav8 followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Independent Examiner's Ststement
I have completed my examination. I confirm that no matters have come to my attention in connection with the
examination giving me cause to believe..
accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act-
or
the accounts do not accord with those re¢ords', or
the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than
any requirement that thè accounts give a 'true and fairf wew which is not a matter considered as part of
an independent examination., or
the accounts have not been prepared in accordance with the methods and principles of the Statement of
Recommended Practice for accounting and reporting by charities lapplicable to charities preparing their
accounts in accordance with the Financial Reporting Standard appli¢able in the UK and Republic of
Ireland (FRS 102)].
I have no concerns and have come across no other matters in connection with the exafflination lo which
attention should be drawn in this report in order to enable a proper understanding of the accounls to be reached.
This report is made solely to the Companvs Tnjslees. as a body, in accordance with Part 4 of the Charities
(Accounts and Reports) Regulations 2008. My work has been undertaken so that I might stale to the Companys
Trustees those matters l am required to stale to them in an Independent examinerfs report and for no other
purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the
Company and the Company's Trustees as a body, for my work or for this report.
Signed..
Dated..
19th March 2025
Page 6

THE CREDIT UNION FOUNDATION
(A company limited by guarantse)
STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
Restrictsd Unrestricted
fund$
funds
2024
2024
Total
funds
2024
Total
funds
2023
Notè
Income from:
Donations and legacies
Charitable activities
Investments
10,436
32.628
1,395
10,436
150.048
1.395
22,972
136,440
206
117,420
Total income
117,420
44,459
161.879
159,618
Expendituro on:
Raising fvnds
Charitable a¢tivitie$
335
40,318
335
169,509
286
154,464
129,191
Total oxpendituro
129,191
40.653
169,844
154, 750
Net lexpenditure)lincome
Transfers between funds
{11,771)
3,806
(7,965)
4,868
(15,OOOJ
13
Net movement in funds
111,7711
3,806
(7,9651
(10, 132)
Reconclllatlon of funds:
Total funds brought fO￿ard
Net movement in funds
87,317
(11,771}
68,019
3,806
1S5,336
17,965)
165,468
(10, 132)
Total funds carried forward
75,546
71,825
147,371
155,336
The Ststement of Financial Activities includes all gains and losses recognised in the year.
The notes on pagès 9 to 21 form part of these financial statements.
Page 7

THE CREDIT UNION FOUNDATION
(A company limited by guaranteel
REGISTERED NUMBER: 04283557
BALANCE SHEET
AS AT 30 SEPTEMBER 2024
2024
2023
Nots
Intangible assets
10
3.142
3.142
Current assets
Debtors
Cash at bank and in hand
17,150
135,125
13,021
149,323
152,275
162,344
Creditors.. amounts falling due within one
year
12
18,046)
(7,008)
Net Current assets
144.229
155,336
Total assets less curront liabilities
147.371
155,336
Net assets excluding pension asset
147.371
155,336
Total net assets
147,371
755,336
Charity funds
Restricted funds
Unrestricted funds
13
13
75,S46
71,825
87,317
68,019
Total funds
147,371
155,336
The Company was entitled to exemption from audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit for the year in question in accordance with
section 476 of Companies Act 2006.
The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to
accounting records and preparation of financial statements.
The financial statements have been prepared in accordance with the provisions applicable to entities subject to
the small companies regime.
The financial statements were approved and authorised for i55ue by ihe Trustees on 27 February 2025 and
signed
heir behalf by=
l Lkl6125
The notes on pages 9 to 21 form part of these financial statements.
Page 8

THE CREDIT UNION FOUNDATION
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
General Information
The Company is a company limited by guarantee, incorporated in England with regislered number
04283557. The members of the company are the Trustees named on page 1. In the event of the
Company being wound up, the liability in respect of the guarantee is limited to £1 per member of the
Company.
Accounting pollcies
2.1 Basis of preparation of financlal statements
The financial statements have been prepared in accordan¢e with the Charities SORP (FRS 102)
Accounting and Reporting by Charities: Slatement of Recommended Practice appli&qble to charities
preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK
and Republic of Ireland (FRS 102) (effective 1 January 2019). the Financial Reporting Standard
applicable in the UK and RepubliG of Ireland (FRS 102) and the Companies Act 2006.
The Credit Union Foundalion meets Ihe definition of a public benefit entity under FRS 102. Assels
and liabilities are initially re¢ognised al historical cost or Iransaction value unless otherwise stated in
the relevant accounting policy.
2.2 Income
All income is recognised oncE the Company has entitlement lo the income, it is probable thal the
income will be received and the amount of income receivable can be measured reliably.
Donated services or facilities are recognised when the Company has control over the item, any
conditions associaled with the donated ilem have been met, the receipt of economic benefit from the
use of the Company of the item is probable and that economic benefit can be measured reliably. In
accordance with the Charities SORP (FRS 102), the general volunteer time of the Friends is not
recognised and refer lo the Truslees, report for more information about their contribution.
On receipt, donated professional services and donated facilities are recognised on the basis of the
value of the gift to the Company which is the amount the Company would have been willing to pay to
obtain services or facilities of equivalent economic benefit on the open market-, a corresponding
amount is then recognised in expenditure in the period of receipt
Income tsx recoverable in relation to donations received under Gift Aid or deeds of covenanl is
recognised al the time of the donation.
Income tax recoverable in relation to investment income is recognised at the time the investment
income is receivable.
Page 9

THE CREDIT UNION FOUNDATION
{A company Ilmited by guardntee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
Accounting policies {¢ontinued)
2.3 Expenditure
Expendilure is recognised once there is a legal or constructive obligation to transfer economic benefit
to a third party, it is probable Ihat a transfer of economic benefits will bè required in settlement and
the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs
of each activity are made up of the total of direct costs and shared costs, including support costs
invofved in undertaking each activity. Direct costs attributable to a single a¢tivty are allocated directly
to that activity. Shared costs which contribute to more than one activity and support costs which are
not attributable to a single activity are apportioned be￿een those activities on a basis consistent with
the use of resources. Central staff costs are allocaled on the basis of time spent, and depreciation
¢harges allo&2ted on the portion of the asset's use.
Expenditu￿ on raising fvnds indudes all expenditure incurred by the Company to raise funds for its
charitable purposes and includes ￿$tS of all fundraising activities events and non-charitable trading.
Expenditure on charitable activities is incurred on direcuy undertaking the activities which further the
Companys objectives, as well as any associaled 5UPPOrt costs.
2.4 Interest recelvable
Interest on funds held on deposit is included when receivable and the amount can be measured
reliably by the Company.. this is normally upon notification of the interest paid or payable by the
institution with whom the funds are deposited.
2.5 Intanglble assets and amortisation
Inlangible assets costing £NIL or more are capitalised and recognised when future economic benefits
are probable, and the cost or value of the asset can be measured reliably.
Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible
assets are measured al cost less any accumulaled amortisation and any accumulated impairment
losses.
Amortisation is provided on intangible assets at rale5 calculated to write off the cost of each asset on
a straighl-line basis over its expected useful life.
Amortisation is provided on the following basis..
Computer SOf￿are
2.6 Debtors
Trade and other debtors are recognised at the settlement amount after any trade discount offered.
Prepaymenls are valued at the amount prepaid net of any trade discounts due.
2.7 Cash at bank and in hand
Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity
of three months or les5 from the date of acquisition or opening of the deposit or similar account.
Page 10

THE CREDIT UNION FOUNDATION
(A company limited by guarantse)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
Accounting policies (continued)
2.8 Llabllities and provisions
Liabilities are recognised when there is an obligation al the Balance sheet date as a result of a past
event, it is probable that a transfer of economic benefit will be required in settlemént, and the amount
of the settlement can be estimated reliably.
Liabilities are recognised at the amount that the Company anticipates it will pay to settle the debt or
the amounl it has received as advanced payments for the goods or setvices it must provide.
Provisions are measured at the best estimate of the amounts required to settle the obligation. Where
the effect of the lime value of money is malerial, the provision is based on the present value of Ihose
amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The
unwinding of the discount is recognised in the Statement of financial aclivilies as a finance cost.
2.9 Financial instruments
The Company only has financial assets and financial liabilities of a kind that qualify as basic financial
instrumenls. Basic financial instruments are initially recognised at transaction value and subsequently
measured at their settlement value with the exception of bank loans which are subsequently
measured at amortised cosl using Ihe effective interesl melhod.
2.10 Fund accounting
General funds are unrestricted funds which are available for use at the dis¢retion of the Trustees in
furtherano of the general objectives of the Company and which have not been designated for other
purposes.
Designated funds comprise unrestricted funds that have been set aside by the Trusteès for particular
purposes. The aim and use of each designated fund is set out in the notes to the financial
statements.
Restricted funds are funds which are to be used in accordance with specific restrictions imposed by
donors or which have been raised by the Company for particular purposes. The costs of raising and
administering such funds are charged against the specific fund. The aim and use of each restricted
fund is set out in the noles to the financial stalements.
Income from donations and legacies
Unrestricted
funds
2024
Total
funds
2024
Donations
10.436
10,436
Page11

THE CREDIT UNION FOUNDATION
(A company limited by guarantsel
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
Income from donatlons and legacies {continuedl
Unrestricted
funds
2023
Total
funds
2023
Donations
22,972
22,972
Income from charitable a¢tlvltles
Restrlctsd Unrestricted
funds
funds
2024
2024
Total
funds
2024
Project in¢ome
Donated administation and finance support
117,420
117,420
32,628
32.628
117.420
32.628
150.048
Restricted Unrestricted
funds
funds
2023
2023
Tolal
funds
2023
Project income
Donated administralion and finance support
105,358
105,358
31,082
31,082
105,358
31,082
136,440
Investment income
Unrestricted
funds
2024
Total
funds
2024
Interest Received
1,395
1,395
Page 12

THE CREDIT UNION FOUNDATION
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
Investment income (continued)
Unrestricted
funds
2023
Total
funds
2023
Interest Received
206
206
Expenditure on raising funds
Costs of raising voluntsry income
Unrestricted
funds
2024
Total
funds
2024
Fundraising cosls
335
335
Un￿Stricted
funds
2023
Total
funds
2023
Fundraising costs
286
286
Page 13

THE CREDrr UNION FOUNDATION
IA company Ilmlted by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
Analysis of expenditure on charitable actlvlties
Summary by fund typo
Restricted Unrestricted
funds
funds
2024
2024
Total
2024
Project expenditure
Donated administration and finance support
Insuran￿ and website
Bank charges
Governance costs
Staff expenses
Depreciation
129,191
129.191
32,628
2,736
113
3,924
159
32,628
2,736
113
3,924
159
758
758
129,191
40,318
169,509
Restricted Unrestricted
funds
funds
2023
2023
Total
2023
Project expenditure
Donated administration and finance support
Insurance and website
Bank charges
Governance costs
Staff expenses
116,903
116,903
31,082
2,959
776
2,674
70
31,082
2,959
776
2,674
70
116,903
37,561
154,464
Page 14

THE CREDIT UNION FOUNDATION
(A company limited by guarantse)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
Analysis of expenditure by activities
Activities
undertaken
directly
2024
Support
costs
2024
Total
funds
2024
Project expenditure
Donated administration and finance support
Insurance
Bank charges
Governance costs
staff expenses
Direct costs - Activity 8
129,191
129,191
32,628
2,736
113
3,924
159
758
32,628
2,736
113
3,924
159
758
129.350
40,159
169,509
Activities
undertaken
directly
2023
Support
costs
2023
Total
funds
2023
Project expenditure
Donated administration and finan¢e support
Insurance
Bank charges
Governance costs
Direct costs - Aclivity 6
116,903
116,903
31,082
2,959
776
2,674
70
31,082
2,959
776
2,674
70
116,973
37,491
154,464
Trustees. remuneratlon and expenses
During the year, no Trustees received any remuneration or other benefits {2023- fJllL).
During the year ended 30 September 2024, no Trustee expenses have been incurred (2023- £NIL).
Page 15

THE CREDIT UNION FOUNDATION
(A company Ilmlted by guarantso
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
10. Intangible assets
Computor
software
Cost
Additions
3,900
At 30 September 2024
3,900
Amortisatlon
Charge for the year
758
At 30 September 2024
758
Not book value
At 30 September 2024
3,142
At 30 September2023
11. Debtors
2024
2023
Due withln one year
Trade debtors
Prepayments and accrued income
10.139
7,011
8,078
4.943
17,150
13,021
12. Creditors". Amounts falling due within one year
2024
2023
Trade creditors
Other creditors
Accruals and deferred income
3,668
2,049
2,329
1,600
699
4, 709
8,046
7,008
Page 16

THE CREDIT UNION FOUNDATION
(A company limited by guardntse)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
12. Creditors: Amounts falling due withln one year (continued)
2024
2023
Page 17

THE CREDIT UNION FOUNDATION
(A company limitsd by guarantee
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
13. Statoment of funds
Statement of funds - current year
Balance at
30
September
2024
Balance at 1
October
2023
Income Expenditure
Unrestrlcted funds
Dosignatsd funds
Designated Funds - all funds
Unallocated amounts
22,687
761
(761)
23.448
(761)
22,687
22,687
General funds
General Funds- all funds
Unallocated amounts
45.332
11,831
32,628
18,025
132,6281
49,138
45,332
44,459
140,653)
49.138
Total Unrestrictsd funds
68,019
44.459
140,653)
71,825
Restrlcted funds
History project
CU Futures Program
Market research project
Gambia Project
DEEU programme
338
41,853
15,000
1,346
28.780
338
34,085
38.134
(45,902)
(15,000)
11,346)
(66,943)
79,286
41,123
87,317
117.420
1129,191)
75,546
Total of funds
155,336
161,879
1169,844)
147,371
Page 18

THE CREDIT UNION FOUNDATION
(A Gompany limited by guaranteel
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
13. Statement of funds (continued)
Statsment of funds - prlor year
Balanee at
30
Sept9mbèK
2023
Balan￿ at
1 October
2022
Trnnsfars
in/out
Income Expenditu
Unrestrlcted funds
Designated funds
Designated Fund
Business Developmenl
Communications Plan
4,404
3,283
7. 687
8,000
7,000
8,000
7,000
4,404
3,283
15,000
22,687
General fund$
General Funds - all funds
47,202
50,977
(37,847)
(15,000)
45,332
Total Unrestricted funds
51,606
54,260
(37,847)
68,019
Balance at
30
S8Ptember
2023
BalanG9 at
l October
2022
Transfars
in/oul
Income Expenditure
Restrlcted funds
History project
NFCDCU Irips
CU Futures Program
Market research project
Gambia Proje
DEEU programme
7.510
13,531
41,818
15,000
1,346
19,657
(7, 172)
(13,531)
(45,618)
338
45,653
41,853
15,000
1,346
28, 780
59, 705
(50,582)
98,862
105,358
(116.903)
87,317
Total of funds
150,468
159,618
(154, 750)
155,336
Page 19

THE CREDIT UNION FOUNDATION
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
14. Summary offunds
Summary of funds - current year
Balance at
30
September
2024
Balance at 1
October
2023
Income Expenditure
Designaled funds
General funds
Restricted funds
22,687
45,332
87,317
22,687
49,138
75,546
44,459
117,420
(40,653)
1129,1911
155,336
161,879
{169,8441
147,371
Summary offunds . prfor year
Balance al
30
September
2023
Bal8ncg at
l Octob8r
2022
Transfer5
in/out
Incomg Expenditu
Designated funds
General funds
Restricted funds
4,404
47,202
98,862
3,283
50,977
105,358
15,000
(15,000)
22, 687
45,332
87,317
(37,847)
(116,903)
150,468
159,618
(154. 750)
155,336
IS. Analysis of net assets between fund8
Analysis of net assets between funds - current porlod
Rostricted Unrestricted
funds
funds
2024
2024
Total
funds
2024
Intangible fixed assets
Current assets
Creditors due within one year
3,142
76,729
{8,046)
3,142
152,275
(8,0461
75,546
Total
75,546
71,825
147,371
Page 20

THE CREDIT UNION FOUNDATION
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
15. Analysis of net assets between funds Icontinuedl
Analysls of net assets between funds - prior period
R8Stricted un￿StriCted
funds
funds
2023
2023
Total
fvnds
2023
Current assets
Creditors due within one year
87,317
75,027
(7,008)
162,344
(7.008)
Total
87,317
68,019
155,336
Page 21