Regist•r•d numbor. 04283557 Charity number: 1096199 THE CREDIT UNION FOUNDATION (A company limited by guarante•) UNAUDITED TRUSTEES. REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2025
THE CRED UNION FOUNOATIOM IA company limited by guarnntsel CONTENTS Page R8f•ronce and admlnl$tra1l dotslls of th• Company, Its Tru•ts•¥ and *dvlsern Trust•e$' report Ind•p•nd•nt oxamln•rf¥ report Statom•t)t of financlal aetlvlti88 Balance sheet Notss to the financial statements
THE CREDIT UNION FOUNDATION IA ¢omyny Ilmited by guarnntso) REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 30 SEPTEMBER 202S Trust•os R Kel. Chief Executive {resignod 28 February 20251 C Strand lappoinled 1 Maich 2025, resigned 1 June 2025) M Bland. Chief Executive {appoinled 2 June 20251 A Pask (resigned 4 September 2025) E Harrison, Chair as at 4 September 2025 J Fell lappoirhled 28 June 20251 T Manning D Vèal P Norgrove Company reglstorod number 04283557 Chority regiSter•d number 1096199 Règist•r•d off¢ Holyoake Housè Hanover Street Manchester M60 OAS Company $ecretary Matt Bland Chlef •xecutlv• offi¢•r Matt Bland A¢¢ountants Crow6 U.K. LLP 3rd fk)or Sl George's Hous8 56 Peter Streot Manchester M2 3NQ Bankor8 The C(>operatlve Bank pl¢ Balloon Street Manchester M60 4EP Page I
THE CREDIT UNION FOUNDATION IA company IlmSted by guarante•l TRUSTEES. REPORT FOR THE YEAR ENDED 30 SEPTEMBER 2025 The trustees of the charty present their annual report and the financial statements lor the year ended 30 September 2025 STRUCTURE, GOVERNANCE AND MANAGEMENT status and Administration The company is a registered ¢haity and a ¢ompany Irrnrted by guarantee and is govemed by ils Memorandum and Articles of As50ciatson. Membership of the Foundation is open lo directors of the Association of Brsh Cred Unions Limited IABCUL} and persons appointad by the directors ol ABCUL. Upon admission to membership. members are automaticalty appointed as trustees. Trustees ¢onlinue to serve until they resign, are removed fiom membeiship by Ihe directors of ABCUL or cease lo be legalty eligible to serve as charty trustees or company directors. Adminislrative seNlces aro provlded by ABCUL. The directOTS of the charitable company (the charity) are its trustee$ for Ihe purpose of charity law and director5 for the purposè of company law, The trust who served the charlly during the year wère as follows.. Robert Kelly (resigned 28 February 2025} Carol Strand {appointed 1 Mafch 2025, resigned 1 Jung 20251 Matt Bland (appointed 2 June 20251 Alison P8sk {resigned 4 September 2025) Emily Harrison James Fell (appointed 28 June 20251 Teresa Manning Dawn Vear Paul Norgrove Appolntmonl Indu¢tl(trn and training of trustees Trustees appointed lo Ihe Credit Unton Fc4Jndation Board have all come lo the role with a wealth of experien¢e in &rther the credit unlon sector or financial sÈNees sector. All Iruslees are made aware of the role and remit of the Credit Union Foundation. are kept up to dale wlh information and training opportunities to help them in their roles. They are also updated with any changes to relevant legislation and guid8neo from the Charity Commission regarding their legal r&sponsi'11tlfrs. Organl8a15onal structure Emily Harrison 1$ the Chair. Paul Norgrove, as ABCUL President continued a5 ABCUL Trustee during the year. Teresa Manning was the second ABCUL Trustee. Dawn Vear continued in her role as an Independent Trustee of the Foundation. Emily Harrison is an Indendent Trustee of the Foundation during the year. James Fell is an Independent TTUStee of the Foundation. Matt Bland is ncw Company Secrétary by virtue of baing Chl8f Exécutive of ABCUL. The Board currentty consists of six Trustees- Nvo ABCUL Directors.. Paul Norgrove and Teresa Manning and three Independent Directors Iwilh vacant positions).. EmY Harrison (Chairl, Dawn Vear an¢J James Fell Matt Bland was appointad Company Secretsry on 2 June 2025. Page 2
THE CREDIT UNION FOUNDATION IA company Ilmlt•d by guarantee) TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDEO 30 SEPTEMBER 2025 Risk review The truslèes have continued lo assèss the major risks that the charty could polenti81ty be exposed lo, partilarlY in relakn'on to operation5 and the financial manageffltrnl of the charity. Trustees have developed eollective und¢rstsnding of risk and continue to amend their risk register to reflect current and potential risks for the Foundation. The trustees are satisfièd that system5 are in place lo miNgate the assorjated risks. OBJECTIVES AND ACTIVMES The objects for which il is established are.. lal To advance education among51 the public in matters pertalning lo cred(( unions and their potential in relieving poverty and nead, and lo proide education and Iraining in the knowledge and skills pertSnenl lo the establishment and management of credit union5'. Ibl To relieve poverty and need 3mong$l communities in the United Kingdom and throughout Ihe Wortd whith are in need of such rdièf, by adw5ing needy p&rsons within those Communities how to estsblish and manage credit unions. Icl To relieve poverty by prowding grants, Items. support and other services lo ¢redil unions lo allow them to extend their services to IndidUal5 in need andlor charities, or ¢)ther organisalions working to prevent or lIeVe poverty In lurther8n¢e of the above objectives, th8 foundation shall have thè following powers". lal To publish books, pamphlets, reports, leaflets, joumals, films and instructional matter., Ibl To commission and undertake and publish the useful fesulls of research, and to run lectures, seminaT5. conlerences and courses,. [¢1 To piowde financial, technical and educational assi81ance in conneclion wrth projects and purposes whirh will further the objects of thg Foundation., Idl To receive donations, endowments, sponsorship fees, subscriptions and legaaas from porsons desiTing to promoté the Foundation's objects or any of them and lo hold funds in trust for same., The Iru5tees confirm that they have referred lo the guidanc& contained in the Charity Commission's general information on publi¢ tnefft when reviewing the Foundation's aims and objectives and in plannitya luture activitie$. Thè Foundalkin ragylady reviews its Trustee Board PO¢Y Manual, monitors perfornance agalnsl rt and introduces changès where necessary. ACHIEVEMENTS AND PERFORMAMCE The ninth year ofthe CU Futures prng¥amme conduded in March 2025 and the year 10 prograrnme was launched. The year 9 sludents graduated al a ceremony held at the ABCUL Annual Conference in Leeds in March 2025. Once the year 10 students graduate in 2026, a total of 101 individuals will have 9ratlualed over Ihe 10 years. The DE Europe programmp took place in Dublin in August 2025. The event was attendgd by 42 detggales from across Great Britain, IreSand, Europe and Africa. Page 3
THE CREDIT UNION FOUNDATION {A ¢ompany Ilmlted by guarantsel TRUSTEES. REPORT ICONTINUEOI FOR THE YEAR ENDED 30 SEPTEMBER 2026 FINANCIAL REVIEW Main funding source5 and expenditure Peach State Credit Unitin conlinugd their generous donation towards the GU Futures program for which £18,595 was receivèd during the year. This year, for the first lime. The League of Credit Unions and Affiliates also contributed lo the CU Futures in the amount of £18,423. A8CUL credit unions once again don8ted generousty to the program during the y8ar raising £36,310. policy The Trustees r&cognise the nèèd for the eharty lo estsbli5h and maintain reserves lo enable it lo carry out Tts charitable oblective5 in the event of unforeseeable matters arising. Where funds are generated for speafic purposes. they are held as restricted funds, as detailed in note 12. Where funds are available for use al the discretion of the Trustees, these arè hèld in unrèstrictèd fvnds. At tho balance sheet dale, there were unrestricted funds of £43,462 plug designated fvnds of £40,969. Ftrture developmonts CU Futures progfamrne wll ¢ontinue for an eleventh intske funded directly through donations from Peach State, The League of Credit Unions and Affiliates and ABCUL member credit unions. Graduates from year ten, will celebrate al a ceremony in Septembèr 2026. A n8Y appointed Found*on Proie¢t Manager will be leading on Leadership and Development through an apprentiShip levy and also Fund-Raising opportunities for both CDCU (Community Developrnenl Credit Unions) and other potential opportunities. The Credrt Union Fovndation contlnue 10 5UPPOrt the DE Europe Programme with an event expected to take place in the Autumn of 2026. STATEMENT OF TRUSTEES. RESPONSIBILITIES The trustees (who are also d1CtorS of The Credrt Union Foundation for the purp05e5 of company law} are responsible for preparfng the trustees, Annual Rep(¥t and the financial slalemenls in accordance wlh applicable law and United Kingdorn Generally Accepted Accounting Pracbce (United ngdoM Accounting Standards). Company law rgquires the Irustegs to prepare financial slalements for each financial year. Under company law the trustees must not approve the financial slalements unless they are satisfied that Ihey give a true and fair viow of the Slate of affairs of the charitable company and of the incoming resources and appli¢alion of resources. including the InMe and exndrtrfr, of the charttable company for that period. In preparing these financral statements, the Trusteos are required to.. Select suitable accounting poIleS and thèn apply them consi$tonUy,' observe the methods and prinryples in the Ch8Trtie5 SORP,. makè judgments and estimates that are reasonable and prudent.. stsle whether applicable UK accounting standards hav6 been followed, Subject to any maledal departures disdosed and explained in the finanryal statèmen15", and prepare the finanu81 slalemenls on the goinu Concern basis unless il Is inappropriate to presume that th d)aritable company will continue in business. The trustegs are responsible for keeping ad&)uale a¢¢ounling records that are sufficAenl to show and explain fhe charitable Company's transactions. disdose with reasonable accuracy at any lime the finan¢ial position of the charitable company and enable them to ensure that the financial statements comply wrth the Companies Act 2006 and the prowsions of the charitys conslttulion. They are also responsible for safeguarding the assets ol th9 charty and hence for taking reasonat4e steps for the prevents'on and d8taction of fraud and othar irragularits8$. Page 4
THE CREDTh UNION FOUNDATION IA company Ilmlt8d by guarantsel TRUSTEES. REPORT {CONTINUEDI FOR THE YEAR ENDED 30 SEPTEMBER 2025 DISCLOSURE OF INFORMATION TO INDEPENDENT EXAMINER Insofar as each of the Iruslees of the charty at the dale of approval ol this rèport is awaie there is no relevant financial information linforniation needed by the charitys independent examiner in connection wrth praparing their report) of which the charity's irKJependenl examiner is unaware. Each Irustee has taken 311 of the steps Ihat helshe shoukl have tsken as a trustee in ordèi to make hise1herse1f awar& of any relevant informatson and to estsblish that the charitys independent exambner is aware of that infom)ation. INOEPENDENT EXAMINER Foltowing last yearfs AGM. cro U.K. LLP were appointed as independent examiner to the charity. Approved by Order of the membèrs of the board of Trustees and signad on their behalf by.. Matt Bland Date.. 19 February 2026 Page 5
10th March 2026
Vicky Szulist for and on behalf of Crowe UK LLP Manchester
THE CREDIT UNION FOUNDATION IA company limited by guarnnto•l STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 30 SEPTEMBER 2026 Unre¥tricted funds 2025 R•strfctsd funds 2025 Total funds 2025 Total funds 2024 Not• Income from.. Donations and le9aeies Charitable activities Investments 18.300 30.686 1,346 18.300 20S.031 1.346 10,436 150,048 1,395 174,445 Total Incomg SO,232 174,445 224.677 161,879 Expandltur• on: Raising funds charitab a¢ti¥Sb&s 276 37.350 276 172,661 335 135,311 169, Total èxp•ndlture 37.626 135,311 172,93Y 169,844 Net movement in funds 12,606 39,134 51,740 (7,965) R¢¢onciliation of funds.. Total funds bToughl forward Net movtrmenl in funds 71.82S 12.606 76,646 39,134 147,371 51,740 155,336 (7,965) Totsl fund$ carried fovward 84.431 114,680 199,111 147,371 The Statement of Finanaal ActMlie$ includes all gains and losses reeogni$èd in the year. The notes on pag95 9 to 22 form part of thase financial stslemenl5. Page 7
THE CREDIT UNION FOUNDATIOM IA company Ilmlt•d by guarnnts¢l REGISTERED NUMBER: 04283557 BALANCE SHEET AS AT 30 SEPTEMBER 2025 2025 2024 Not• Intangiblo assets 10 3,142 1.842 3.742 Current assets Debtors Cash al bank and in hand 26.084 179.838 17, 150 135, 125 20S.922 152,275 Currnnt liabilitles Crgdilors.. amounts falling due within one year 12 {8.8531 (8.046) Net currnnt as••ts 197,269 144,229 Total ass•ts1È8$ ¢urr•nt liablllU•$ 199.111 147,371 Nèt 4$80ts èxcluding p•nsion as8•t 199.111 147,371 Totsl net et9 199.111 147,371 Chority funds Restricted funds Unreslricled funds 13 114,680 84,431 T5,546 71,825 13 Totsl funds 199.111 147,371 The Company was enlrfleil lo exemption from audr( under secllon 477 of the Companies Ad 26. The members have not required the company to obtain an audit the year in question in 8c¢ord3nce v section 476 of Companies Act 2006. The TnleeS acknowledge their responsibilrties for cOMp.n9 with the requirements of the Act wlh respect to accounting records and pr9paration of financial ststemgnts. The financial statements have been prepared in accnrdance with the provisions applicabl¢ to entities subject to the small companies regimo. The finan81 statements were approved and auihorised for issue by the Trustees and sioned on their beh811 by.. Oale.. 19 February 2026 The notes on pages 9 1¢ 22 form part of these financial statements. iAAtt Bland Page 8
THE CREDrr UNION FOUNDATION IA ¢ompany limited by guarnnt•o} NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2025 General Infomiatlon The Cornpany 15 a cornpany limitèd by guarantee, incorporated in England wrth registered numbor 04283557. The members of the company are the Trustees named on page 1. In the event of the Company being wound up, the liabilty in respect of the gu8ranlee is lirniled lo £1 per mèmber of the Company. Accounting pollclos 11 Ba•1$ of preparatlon of flnanclal statsm•nts The financial statemènts have been prepared in accordanee wlh the Charities SORP IFRS 1021- Accovnling and Reporting by Charities.. Statement of Recommended Practice applicable to charitie5 preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 1021 leffeclive 1 January 20191, the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 and the Companies Act 20C6. The Credit Union Foundatitin meets the definition of a public benèfit entity under FRS 102. Assats and liabilities arg iniallY recognised al historical cost or transaction value unless otherwise stsled in the rèlèvant a)untIng polry. 12 Incom• AJI InMe 1$ recognised once the Company has et)titlemenl lo Ihe income. it is probable that the income w1 be received and the amount of 1me receivable can be measured rèliably. Donated servicès or facilths are recognised when the Company has control over the itèm, any conditions asso¢i*ed with the donated item have been met. the receipt of economic benafrt from the use of the Company of the item is probabl8 and that economic benefit can be mèasuied Teliably. In accordance with the Charilios SORP IFRS 1021. the general vdunteer lime of the Friends is not recognised and rèfèr to the Trustees. report for more information about their conlributic)n. On receipt, donated professional $8rvices and donated facililies are recognised on basis of the value of the gtft to thè Company which 15 the amount the Company would have been willing to pay to obtain services or fa¢ilrt¢e5 of equivalent economic benefit on the open market,. a corrasponding amount is then recognised in expenditure in the perlod ol receipt Income tax rècov8r8ble In felation to donations received under Gift Aid or deeds of cov&nant is recognised al the time of the donation. Income tax recoverab in relation lo inve3trnent income is recognis at the time the invBstmgnt ino)m8 is re¢ervable. Page 9
THE CREDIT UNION FOUNDATION IA company limited by guardnteel NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2025 A¢¢ountlng pollcles (Connued) 13 Expenditur• Expenditure is Te¢ognised oncè there is a legal CK Constructive obligation lo transfer econornic benefft lo a third party, it is probable Ihat a transfer of economic benefrts will be required in settlement and the amount of the obligation can b8 measured rèliably. Expènditure is classified by acltwty. The Costs of each acliwty are made up of the lolal of direct C051s and shared cos15, induding 5UPPOrt Costs Involved in undertaking each adivty. Direct costs attributable lo a single activity are allocated directty lo that activity. Shared costs which contribute to more than one activity and support Costs whlch are not attributable lo a sing18 activity arè apportionèd b&treèn those activibes on 3 basis Consistent wrfh the use of resources. Genlral staff costs are allocated on the basis of lime spent, and depreciation charge5 allocated on tho Portion of the assevs use. Expenditure on ralsing funds includes all expendilufe incurred by the Gtsmpany lo raise funds for ils arstable purpose5 and indudes c051s of all fundraising activthes events and non<harrtable trading. Expenditurè on etharitable activitses is incurrèd on dirècdy undertaking the activities which fvrther the Companys objectives. as well as any associated support costs. 2.4 Int•rnst recelvab Interest on fvnds held on deposit is included bknen recewable and the amount can be measured Teliably by the Company., this is normally upon notification of the intest paid or payable by the institLrtion with whom tha fvnds arè d8posrted. IS Intanglble assets and amortlsatlon Intangible assets ¢osts"ng £NIL or more are capilalised and recognised when lUlu economic benefits are probable. and the cost or value of the asset can be measured Teliably. Intangible assets are initially recognised at cost. After recognrt¢on. under Ihe cost model, intsngible assets are measured al cost less any a¢cumulated amortisalion and any accurnulated impairment losses. Amortisation is provided on inlangibla assets al rates l¢ulated to wrbte off the cost of each asset on a slraighl-line basis over its expocled usoful lrfe. Amortisation is pro¥ided on the following basis. Computer SOare 33% 16 D•btor¥ Trade and other debtors are recognised al the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trad& discounts due. 17 Cash at bank and in hand Cash at bank an¢J In hand Includes sh and short-lerm highly liquid investments with a short maturity of three months or less from the dale of acquisition or opening of the deposit or similar account. Page 10
THE CREDIT UNION FOUNDATION IA Company Ilmltsd by guarnntee} NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 202S Accountlng pollel¢¥ l¢ontlnuedl 2.8 LlabIlltl and provislons Liabilities are reco9nised when there is an obligation al thè Balance sheet dale as a rasult of a past evgnt, il Is probable that a transfer of econornlc beneff( will be required in seitlemertt, and the arnount of the settlement can be estimated reliably. Liabilities are recognised at the amount that th& Company anb'cipates it will pay to settle the debt or the amount (t has received as advan¢gd payments for the goods OT senrices it musl piowde. Provisions ale measureLI at the best estimate of the amounts iequired to settle the oblwation. Where the èffèct of the lime value of money is mateiial. the provision is based on Ihg preseiil v8lue of those amounts, discounted at the pre-tax discount rale that reflects Ihe risks specifi¢ lo the liabilty. The urwinding of thè discount is recognised in the Statem&nt of fN)ancial aCtilieS as a finance cost. 2.9 Flnan¢l81 Instruments The Company onty has financial assets and financial liabilthgs of a kind that qualfy as basic financ481 instruments. Basic financial instruments are inilialty recogni5ed al transaction value and sub$equenlly mèasured al Iheii settlement valuè with the exception of bank loans vthiej) are subsequently measured at amorts'sed cost using the effectwe interest m8thod. 2.10 Fund accountlng General funds are unreslricted funds whith are available for use * the discretion of the Trustees in furtherance of the ganeral objectwe5 of the Company and which have not been designated for other purposes. Designated funds comprise unraslrided funds that have been set aside by the Trustees for particular purposes. The aim and use of each designated fund is sel out in the notes lo the finan¢ial statements. Restricted fvnds are funds which are to be used in accordance th spe¢rfic restrictions imposed by donors or whl¢h have been raised by the Company for particular purposes. The costs ol raising and administering such funds aTe charged against the specific fund. The aim and use of 9ach restricted fund is set out in the notes to the fin3n¢ial statements. Inme from donatlon$ and legacl•$ UnrvJtrietsd fund* 2025 Total funds 2025 Donations 18,300 18.300 Page11
THE CREDIT UNION FOUNDATIOM IA company Ilmlted by guarnnte•l NOTES TO THE FINANCIAL STATEhlENTS FOR THE YEAR ENDED 30 SEPTEMBER 2025 In¢ome from donation8 and l¢ga¢le$ {¢ontlnuedl Unrgslricted funds 2024 Tot81 funds 2024 Donations 10,436 10,436 Income from charitable 4ctivitieJ Unr•strlcted Restrlcted fund3 fund$ 202S 2025 Totsl fund$ 2025 Project income Donated administslion and finance support 174,445 174,44S 30,586 30.S86 174.445 206,031 UnSted nds 2024 RestriGtsd nds 2024 Total funds 2024 Project income Donatèd administration and financ8 support 117,420 117,420 32,628 32,628 32,628 117,420 150,048 Investment Income Unrn$lrl¢tsd funds 2025 Total funds 202S Interest Received Page 12
THE CREDIT UNION FOUNDATION IA ¢omp•ny Ilmlted by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2026 Invg8tment incom• Iconllnuodl Unrnslricled funds 2024 Total funds 2024 Interest Received 1,395 1,395 Expendltur• on ral$lng funds Costs of ral$ing voluntary income Unr•strlctsd fun 2025 Total funds 202S FLtndraising costs 276 276 Unrestrirtèd fun(ts 2024 Total funds 2024 Fundraising c051s 335 335 Pa 13
THE CREDIT UNION FOUNDATION (A cofflpany Ilmited by guardnteel NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDEO 30 SEPTEMBER 2025 Analysls of 0xndItUrn on charltsblo actlvlll•s Summary by fund type Unrestricted Restricted funds fund$ 2025 2025 Totsl 2025 PToje¢t expenditure Donated administration arHI finance support Insurance and website Bank charge5 Governance costs Staff expense5 Depreciation 135.311 13S,311 30,586 2,092 83 3,243 46 1,300 30,588 2,092 83 3,243 1,300 37,350 135.311 172.661 Unr8Strict&d runds 2024 R&slriGted funds 2024 Total 2024 Project expenditure Donated administratR)n and financ8 support Insurance and website Bank charges Governance costs Staff expensas Depreciation 129.197 129, 191 32,628 2, 736 113 3,924 159 T58 32,628 2, 736 113 3,924 159 758 40,318 129. 197 769,509 Page 14
THE CREDIT UNION FOUNDATION IA company Ilmltsd by guarants•l NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEM8ER 2025 Anatyslj of expenditiJre by a¢tlvities Activities undertaken dlr•¢tly 2025 Support costs 2025 Total funds 202S Project expenditure Donated administration and finance support Insurance B8nk charges Governance cos15 Staff expenses Depreciation 135.311 135,311 30.586 2.092 83 30.586 2,092 83 3,243 3.243 1.300 1.300 135.357 37,304 172,661 Activit$ undertak8n diwtty 2024 Support costs 2024 Total ftsnds 2024 Project expendilure Donated administration and finance support Insurance Bank charges Govèrnance c4)sts Staff expenses Depreciation 129, 191 129,191 32,628 2,736 113 32,628 2,736 113 3,924 3,924 159 159 758 758 129,350 40, 159 169,509 Trustg•s' r•mun•ration and oxpenseB Durlng the year. no Trustees rece9 any Muneration or other beneffts (2024- £NIL). Ouring tho year ended 30 September 2025, no Trust88 èxpenses have been incurred (2024- £NIU. Page 15
THE CREDIT UNION FOUNDATION IA ¢omp•ny limited by guarantsel NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2025 10. Intangible assets Computer sOfare Cost At 1 October 2024 3,900 At 30 Septèmber 2025 3,900 Amortlsatlon At 1 October 2024 758 1,300 Charge lor thè year At 30 September 2025 2,058 Net book value AI 30 Septembèr 2025 1.842 At 30 S8pt8mb8r2024 3, 142 11. Debtors 2025 2024 Duè within on* ar Trade debtors Prepayments and awued in(x)me 20.177 5.907 10, 139 7,011 26.084 17.1 12. Cf¢dltors: Amounts falllng du• wlthln on• year 2025 2024 Trade creditor8 Other creditors Accruals and deferred income 3.100 6SS 4.898 3,668 2,049 2,329 Page 16
THE CREDIT UNION FOUNDATION {A ¢ompany limlted by guarnntsè) NOTES TO THE FINANCIAL STATEMENT$ FOR THE YEAR ENDED 30 SEPTEMBER 2026 12. Creditors: Amounts falllng due within one year Icontinuodl 2026 2024 8,6S3 8.046 Page 17
THE CREDIT UNIOII FOUNDATION {A company Ilmlt•d by guarnnt•o NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2025 13. Statem•nt of fund¥ Statement of funds- currnntyoar Balancè at Balanco at 1 Cktober 2024 Septemljer 2026 Income Expenditure Unrnstrlctsd fund$ Oesignat•d funds Oesrgnated Funds- all funds 22.687 18,282 40,969 G•nèral lundB General Funds- all funds 49.138 31,950 137.6261 43A62 Total Unmtrictsd funds 71.825 50.232 {37.6261 84,431 R•str1¢t funds History project CU Futures Program DEEU programme 338 34,086 41,123 338 62.870 S1.472 73,334 101,111 {44.5491 190.7621 75,546 174,445 1135.3111 114.680 Total of funds 147,371 224.677 1172.9371 199.111 Page 18
THE CREDIT UNION FOUNDATION {A ct)mpany Ilmlted by guarantsol NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2026 13. Statsment offvnds (continued) Statement of fund$- prior yeaT Balanc& at 30 September 2024 Balancè at l October 2023 Income Expendllur& UnYe$tYl¢tsd funds Doslgnatsd fund¥ Designated Funds all funds Unallocated amounts 22.687 761 23,448 (761) (761) 22.687 22,687 General fund$ General Funds- all funds Unallocaled amounts 45,332 11,831 32,628 (8,025J (32,628) 49, 138 45,332 44,459 (40,653J 49, 138 Total Unrestrlct•d funds 68.019 44,459 (40.653J 71,825 Balanc& al 30 Sept8mber 2024 8alancg al t October 2023 Income Expendlture R¢$tricted funds History project CU Futures Program Market research proje¢t Gambia Project DEEU programme 338 41,853 15,000 1,346 28.780 338 34,085 38, 134 (45,902) (15,OCQI (1,3461 (66,943} 79,286 41, 123 87,317 117,420 (129, 1911 75.546 Page 19
THE CREDIT UNION FOUNDATION {A Company Ilmlted by guarnnteè) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2025 13. Stat¢m¢nt of funds Icontlnuedl Total of funds 155,336 161,879 (169,844) 147,371 Pa9e 20
THE CREDIT UNION FOUNDATION IA company limltsd by guarnnt¢el NOTES TO THE FINA14CIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2025 1& Summary of funds Summary of funds- currènt y¢4r Balance at 30 Sgpt•mb•r 2025 Balanc• at 1 Octobèr 2024 Incomo ExndItU Designated lunds General funds Re$tri¢lgd funds 22.687 49.138 75.546 18.282 31.950 174.44S 40.969 43.462 114.680 137,6261 1135.3111 147.371 224.677 1172.9371 199.111 Summary of funds- prior y•ar 8è1on¢e 81 30 September 2024 8818rp¢e al 7 October 2023 In¢ome Expenditure Designated funds General funds Rèstricted funds 22,687 45,332 87,317 22,687 49, 138 75,546 44,459 117.420 {40,653) (129, 191) 155,336 161,879 (169.844) 147,371 15. Analysls of not a$$•ts between funds Analy$l8 of net assèts ¥••n funds - currentyear Unrestricted R•strfctsd funds fund$ 2025 2025 Total lunds 202S Intangible fixed assets Current assets Creditors due within one year 1,842 91,242 18,6531 1,842 205,922 18.6S31 114,680 Total 84.431 114.680 Page21
THE CREDIT UNION FOUNDATION IA ¢omp•ny limited by guarnntse) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2025 15. Analys1 of net •$ets between funds Icontinuedl Analysis of nèt as••ts bo¢¥n funds - priory•ar Endowmenl lunds 2024 Rgstri¢ted Unr9Strt¢led lunds funds 2024 2024 Total funds 2024 Intangible fixèd assets Current assets Creditors dLta within one year 3, 142 76.729 (8.046) 3, 142 152,275 (8.046) 75.546 Total 75,546 71,825 147,371 Page 22