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2022-08-31-accounts

THE NAVIGATORS UK LIMITED

A Company Limited by Guarantee

Company no. 04429021

Charity Registered in England & Wales no. 1099148 Charity Registered in Scotland no. SC038484

ANNUAL REPORT AND ACCOUNTS

31 August 2022

THE NAVIGATORS UK LIMITED

ANNUAL REPORT AND ACCOUNTS FOR THE YEAR ENDED 31 AUGUST 2022

CONTENTS
Page
Report of the Trustees
Chair's Report, Objectives and Activities 1
Achievements and Performance 2
Financial Review 4
Plans for Future Periods 6
Structure, Governance and Management 7
Reference and Administrative Information 9
Statement of Trustees' Responsibilities 10
Independent Auditors' Report to the Trustees 11
Statement of Financial Activities 15
Balance Sheet 16
Statement of Cash Flows 17
Accounting Policies 18
Notes to the Accounts 19-25

THE NAVIGATORS UK LIMITED

1

Report of the trustees for the year ended 31 August 2022

The trustees present their annual report and audited financial statements of The Navigators UK Limited (‘the Charity’ or ‘Navigators UK’) for the year ended 31 August 2022. The trustees have adopted the provisions of the Statement of Recommended Practice applicable to charities, preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK (FRS102).

CHAIR’S REPORT

Navigators UK has been financially stable and has had diversified support. We were not significantly impacted financially by Covid-19 but it has hindered our student and church ministries. 2021/22 has been a period of recovery and high investment – especially in supporting new reps with matched funding. We also welcomed a new country leader who has requested significant investment to broaden our ministries.

Historically we have had significant unrestricted reserves and therefore had spent eight years setting deficit budgets in our mission fund. This was in order to invest in growing the ministry and meeting key needs.

In 2021/22 our reserves would have ended the year just below the maximum point except for the notification of a legacy which we expect to arrive in 2022/23 but in accordance with accounting practice has been recognised as income this year. The trustees have therefore budgeted in 2022/23 for another year of significant investment in our mission. We anticipate this will take us towards the mid-point of our reserves position. As we wish to sustain and grow this level of central activities going forward we will increase our fundraising next year to ensure our increased level of expenditure is sustainable.

We have not seen any significant reduction in financial support to our representatives but we are monitoring the situation closely. We will use reserves to make very short-term discretionary grants to support any representative who gets into severe financial difficulty whilst they fundraise or find alternative ministries.

The house legacy, from an associate, that we received in 2021/22 came with a significant financial legacy. This house is an important asset and a great centre for ministry in London. We are fully committed to maintaining the house in its disciple-making ministry out of respect and gratitude to the donor. The significant cash legacy has been placed in a designated fund to support a programme of much-needed maintenance on the house. We are being hampered a little by the unavailability and high cost of builders in London. The house should also generate, in the medium term, a net cash surplus from rent minus expenses.

Six new representatives and three new associates joined over the course of the year. A number of people finished their time with the Navigators and we will miss their great contribution but wish them great blessing – well done good and faithful servants!

OBJECTIVES AND ACTIVITIES

The main objective of the Charity is the advancement of the Christian religion in the UK and overseas through evangelism, teaching, mentoring, training and the production and distribution of materials. We are committed to helping people come to know Christ, to live as Christ’s disciples in society and to be equipped to help others to do the same. This is expressed in our calling : ‘To advance the gospel of Jesus and his kingdom into the nations through spiritual generations of labourers living and discipling among the lost’.

Our core values and vision have been identified and these provide the foundation for our strategy for ministry. Throughout our ministry we will continue our focus on

Public Benefit

The trustees have had due regard to the Charity Commission’s guidance on public benefit.

Fundraising Activity

The Charity’s fundraising approach is based on building personal relationships with donors and potential donors, inspiring those who share our goals to want to partner in our work both financially and through prayer. Self-employed Navigator representatives are responsible for raising funds for the Charity that can be used to support the costs of their ministries; the Charity can provide them with information packs and fundraising materials to help them in this.

THE NAVIGATORS UK LIMITED

2

Report of the trustees for the year ended 31 August 2022 (continued)

Fundraising to support central Charity costs is co-ordinated by a core group including members of the NLT and staff members and overseen by the trustees’ Finance Committee. The Charity does not use commercial fundraisers. This year there has been minimal new central fundraising activity due to our strong financial situation.

Supporters are thanked appropriately and their data is kept secure. We do not sell or share supporter data for marketing purposes. We have not received any complaints about our fundraising activity.

Key Strategies

The key strategies employed to achieve our main objectives for the public benefit are:

Activities

The Charity’s principal activities to achieve our charitable objectives for the public benefit are:

ACHIEVEMENTS AND PERFORMANCE

The Hidden reality: We tend to mark organisations according to certain activities: events, numbers, certain measurable activities. The Navigators do those things but at the core is a team of Representatives, and many others, who do a significant and often hidden work of relationally investing into the lives of individual people in many hidden ways and seemingly unremarkable ways - helping them grow in their faith and life. This is a work that often goes unnoticed but is perhaps the most dominant activity of the charity. Thousands of lives have been transformed by this relational work.

Support and Development of Navigator Representatives and Movement

THE NAVIGATORS UK LIMITED

3

Report of the trustees for the year ended 31 August 2022 (continued)

Student Ministry

This is still our largest ministry platform. We have around 400 students involved in our various ministries across the UK. The aim, as always, is that we deeply invest in these students so that strong foundations of faith and life are established that will enable them to stand tall and help them to be able to be a blessing to others. This is a generation who are hungry for mentoring and help. Post-Covid we have seen a hunger for the kind of relational ministry that the Navigators specialises in and we have seen many of our groups grow.

A number of events happened this academic year aimed at investing in the student generation. These included a number of student retreats and events to support those currently engaged in student ministry and emerging leaders.

Second Half Living Ministry

Second half living has been seeking to finalise resources and materials in order to launch out and serve the wider church. Under new leadership they are exploring developing a whole new cohort of ‘trainers’ who can take the material across the UK. They are also developing partnerships with others in the church in this strategic area of helping people navigate the challenges of the second half of life. Multiple churches and groups throughout the UK have been part of trialling the resources.

International Missions/European investment

We continue to develop and support a network of people who are taking their jobs overseas. We have a team of two UK people who provide oversight and support to this network. Many of our Reps are also involved in investing in the European Navigators work. As a Partnering Country, the Navigators UK have a lot of people and resources that are invaluable in developing the Navigators work in other European countries. For example, our UK Student Leader provided leadership to the European Student Network

THE NAVIGATORS UK LIMITED

4

Report of the trustees for the year ended 31 August 2022 (continued)

(stepping down in September 2022) and a former UK Country Leader provides support to the other European partnering Country Leaders.

Ministry Size

At 31 August 2022 there were 45 associates and 77 representatives working with the Navigators UK, including six new representatives and three new associates who joined us over the course of the year. Of these, around 25-30 ministered to university students in eleven UK cities, with a particular ministry to international students in some of these universities. Other representatives are involved in the leadership of the projects described above and ministering in their local communities.

Publications

The production and distribution of resources to support discipleship and the understanding of the Christian faith has always been a significant aspect of our work. The majority of publications we distribute are short books written by our representatives and editorial team. Over the year two new books were published and a Navigator journal was produced. Total online sales consisted of 2,261 books written by UK Navigators, 343 books from other writers and 1,326 leaflets.

FINANCIAL REVIEW

The balance sheet shows total net assets of £2,101,524, a reduction of £53,362 during 2021/22. There are no funds in deficit in the accounts.

This year saw the full year of direct operation of the London House by the charity. The income produced by the house and a cash legacy which was received from the donor of the house have been held within a designated fund to allow effective monitoring of the costs of operating the house. This year a significant investment has been made from the fund for a programme of repairs to the fabric of the house.

Income

Voluntary donations were £1,344,723 (2021: £1,234,620). In addition the charity also received legacies of £44,997 (2021: £74,686) and gift aid recovered of £193,637 (2020: £177,716). This represents an increase of 6% in voluntary income excluding legacies, largely attributable to the generous response of our donors to appeals to support our work with victims of the invasion of Ukraine.

Most of our voluntary income is restricted by the donors to support the ministries of particular Navigator representatives or projects. An 8% administration charge was levied on restricted gifts to help fund the national office.

Despite the ongoing national economic challenges, the overall picture is one of stability and the trustees are very grateful for the faithful generosity of our supporters. They are continuing to actively monitor the monthly income for the support of individual Navigator representatives and for our general funds. If there are indications that particular Navigator representatives are suffering hardship as a result of a fall in income, the Charity has made short-term discretionary grants to these representatives.

Expenditure

The bulk of our expenditure continues to be payments made to support the ministries of self-employed Navigator representatives working in the UK and abroad.

Unrestricted funds (including the 8% administration charge) were used to fund ministries and projects and to cover the central support costs of the national office and governance. These central support costs were £229,356, an increase of £12,140 (5.6%) compared with last year. A deficit of £14,567 in central services expenditure over income was funded from the Central Services designated fund established in 2020 as a result of a legacy.

Investment Policy

The majority of investments are maintained in a low-risk liquid position with competitive interest. During the year the trustees reviewed their investment policy in the light of rising inflation and decided to invest £175,000 in the CCLA COIF Ethical Investment Fund to better protect the charity’s strategic reserves from inflation. The

THE NAVIGATORS UK LIMITED

5

Report of the trustees for the year ended 31 August 2022 (continued)

placement of the remaining funds has been reviewed to maximise interest rates and is now divided between the CCLA COIF Charity Deposit Fund, two 90-day notice accounts protected by the government Financial Services Compensation Scheme and the remainder held with the charity’s principal bankers. The amount invested, the spread over institutions and the interest rates earned are regularly reviewed by the Finance Committee of the Board.

Reserves Policy

Unrestricted funds are held in general funds to meet the costs of future ministries and projects and to underwrite current activities. Monitoring of reserve levels, resultant budget setting and review of actual financial performance are reviewed by both the Finance Committee and the Board. The Finance Committee will review the reserves policy in the coming financial year to evaluate whether changes are possible given the positive impact the legacy of the London House has had on the Charity’s balance sheet.

Key elements of our reserve policy:

Our current reserve position and projections:

THE NAVIGATORS UK LIMITED

6

Report of the trustees for the year ended 31 August 2022 (continued)

----- Start of picture text -----
Size of unrestricted reserves compared with reserve margins
£700,000
£600,000
£500,000
£400,000
Minimum reserves
Maximum reserves
£300,000
Mid-point
£200,000
£100,000
£0
2015 2016 2017 2018 2019 2020 2021 2022 2023
(budget)
----- End of picture text -----

Going Concern

In the light of the continuing generous support of our donors and the charity’s strong balance sheet and reserves, the trustees are confident it is appropriate to prepare the annual accounts on a going concern basis.

PLANS FOR FUTURE PERIODS

This month marks just over 12 months since the new country leader has been in post. There are significant changes proposed for the future of the movement including:

THE NAVIGATORS UK LIMITED

7

Report of the trustees for the year ended 31 August 2022 (continued)

STRUCTURE, GOVERNANCE AND MANAGEMENT Governing Document

Navigators UK is a company limited by guarantee with charitable status. In the event of the company being wound up, the members are liable to contribute such an amount as may be required (not exceeding £10) in respect of the guarantee. The Charity was registered in Scotland in July 2007.

Appointment of Trustees

Trustees are appointed by the Board after prayerful consideration of candidates, the needs of the Charity and the potential contribution of new trustees. When new trustees are being sought, Board members, representatives and associates are invited to suggest individuals and the Board decides who to approach and invite to consider becoming a trustee. In order to familiarise themselves with the ethos, aims and activities of the Charity, potential trustees are invited to attend a Board meeting as observers before being invited to join the Board. Potential trustees are interviewed by at least two board members and two references are taken up prior to their appointment If the individual is willing to be a trustee they are elected by the Board and formally invited to join. New trustees are encouraged to attend training seminars and all trustees are invited to attend the annual national conference.

Organisation

Responsibility for the governance of the Charity lies with the Board of Trustees, which meets at least three times a year. The Board has established a Finance Committee, which met three times last year and comprised three trustees and the Country Leader, with responsibility for budget setting, monitoring of income and expenditure and the overview of the year-end accounts and audit. The Board has also established a Representative and Pastoral Committee, which met three times last year and comprised four trustees and a member of the NLT; this committee deals with pastoral matters relating to representatives and associates in order to better aid the fulfilment of trustee responsibility in these important areas. During the year one new trustee was appointed.

The Board see it as part of their responsibility to be in direct contact with the representatives and associates around the UK in order to be aware of the developments in the ministry and the needs and opportunities that arise. Trustees are encouraged to attend local Navigator events and meetings to have contact with representatives, associates and supporters when this is possible.

Operational responsibility for the ministry of the Charity is entrusted to the Country Leader, supported by a National Leadership Team. The NLT is supplemented by two regional leadership teams, one covering Scotland and Ireland, the other England and Wales. The Country Leader and all the other Navigator representatives are self-employed and work in association with the Charity to provide ministry services to enable the Charity to fulfil its objectives and related activities. Such services are set out in formal ministry agreements, which are regularly reviewed. The Charity employs an Office Manager, Finance Manager and Office Assistant to provide central administration and financial control, and two other staff who have responsibility for managing and delivering the Charity’s communications to representatives, associates, supporters, trustees and the wider community and the production of resources.

Navigators UK belongs to the European Navigator region (NavEurope) and is part of the worldwide Navigator partnership, which has its international office in Colorado Springs, USA. The European Director, Bill Sparks, has established his office in our building in Southampton and we provide him with administrative support as well as office space. NavEurope is charged for these facilities and support. The aims and objectives of NavEurope are very similar to those of Navigators UK but they work in a wider European context.

Related Parties

None of the trustees receive remuneration or other benefit from their work with the Charity. The opportunity to declare any potential conflicts of interest is presented at the commencement of each Board meeting.

Risk Management

The trustees continue to identify the major risks to which the organisation is exposed and ensure that risk is managed to a satisfactory level. Risks are identified and reviewed during the regular programme of Board and Board Committee meetings, where existing and new ministry activities, financial developments and regulatory changes are considered in the context of the risk they bring to the organisation. Once identified, risks are

THE NAVIGATORS UK LIMITED

8

Report of the trustees for the year ended 31 August 2022 (continued)

formally documented within a Risk Register and, where appropriate, controls are implemented so as to seek to reduce the residual risk to an acceptable level commensurate with the Charity’s resources.

The principal risks identified are the impact of the cost of living crisis on donations, the impact of Covid-19 on relational ministry and current legislative uncertainties around the definitions of employment status.

A process of monitoring income levels for both individual representatives and central funds was put in place during the Covid-19 process and this has been kept in place to allow early identification of any significant reduction in donations due to the current economic situation.

In common with many charities with a small number of employees, the loss of key office staff through illness or resignation poses a risk to the day-to-day functioning of the Charity. The trustees have in place measures to detect emerging issues in good time but accept there will still be a residual risk.

In relation to employment status, the trustees have continued to review the legislation and recent court judgements and have taken professional advice.

The trustees continue to ensure a regular focus on our reserve levels as an integral part of our budgeting process.

THE NAVIGATORS UK LIMITED

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Report of the trustees for the year ended 31 August 2022 (continued)

REFERENCE AND ADMINISTRATIVE INFORMATION

Charity Registered in England & Wales No. 1099148 Charity Registered in Scotland No. SC038484 Company No. 04429021 Registered Office Turner House 54 The Avenue Southampton SO17 1XQ

Key Management Personnel

Key management personnel comprise the trustees and the Country Leader.

Trustees

The trustees, who are also directors for the purposes of Company law, who served during the year and since the year end are:

M Osborn (Chair)[†] (resigned 1/11/22) S Wroe† (Chair from 1/11/22) L de Caestecker H Heron[† ] S-M Kueh A Jones[†] A Craig (from 20/04/2022) Finance committee †Representative and pastoral committee Country Leader P. Boydell (from 01/09/2021) Advisors Bank NatWest plc 64 High Street New Malden Surrey KT3 4HB Solicitors Anthony Collins Solicitors LLP 134 Edmund Street Birmingham B3 2ES Auditors Burton Sweet Ltd The Clock Tower 5 Farleigh Court Old Weston Road Flax Bourton Bristol BS48 1UR

THE NAVIGATORS UK LIMITED

10

Report of the trustees for the year ended 31 August 2022 (continued)

STATEMENT OF TRUSTEES’ RESPONSIBILITIES

The trustees (who are also directors of The Navigators UK Limited for the purposes of company law) are responsible for preparing the Trustees’ Report (incorporating the strategic report and directors’ report) and the financial statements in accordance with applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102: The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Accepted Accounting Practice).

Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the income and expenditure, of the charitable company for that period. In preparing these financial statements, the trustees are required to:

The trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

In so far as the trustees are aware:

Signed on behalf of the Board of Trustees

Simon Wroe – Chair

Date 07/12/2022

THE NAVIGATORS UK LIMITED

11

Independent Auditors’ Report for the year ended 31 August 2022

Opinion

We have audited the financial statements of The Navigators UK Limited (the “Charity”) for the year ended 31 August 2022 which comprise the Statement of Financial Activities, the Balance Sheet, the Cash Flow Statement and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102: The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

This report is made solely to the Charity’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006 and section 44(1)c of the Charities and Trustee Investment (Scotland) Act 2005. Our audit work has been undertaken so that we might state to the Charity’s members those matters we are required to state in them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Charity’s members as a body, for our audit work, for this report, or for the opinions we have formed.

In our opinion, the financial statements:

Basis for opinion

We conducted out audit in accordance with international Standards in Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the Charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the directors’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information

The trustees are responsible for the other information. The other information comprises the information included in the annual report other than the financial statements and out auditor’s report thereon. Our

THE NAVIGATORS UK LIMITED

12

Independent Auditors’ Report for the year ended 31 August 2022 (continued)

opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If based, on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report the fact.

We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

Matters on which we are required to report by exception

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 and Charities Accounts (Scotland) Regulations 2006 (as amended) requires us to report to you if, in our opinion:

Responsibilities of trustees

As explained more fully in the trustees’ responsibilities statement, the trustees are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as they determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the Charity’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the Charity or to cease operations, or have no realistic alternative but to do so.

Auditor’s responsibilities for the audit of the financial statements

We have been appointed as auditor under section 44(1)(c) of the Charities and Trustee Investment (Scotland) Act 2005 and under the Companies Act 2006 and report in accordance with regulations made under those Acts.

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that

THE NAVIGATORS UK LIMITED

13

Independent Auditors’ Report for the year ended 31 August 2022 (continued)

includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:

We assessed the susceptibility of the charity’s financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:

To address the risk of fraud through management bias and override of controls, we:

In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:

There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of noncompliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any.

Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.

THE NAVIGATORS UK LIMITED

14

Independent Auditors’ Report for the year ended 31 August 2022 (continued)

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at www.frc.org.uk/apb/scope/private.cfm This description forms part of our auditor’s report.

Joshua Kingston ACA (Senior Statutory Auditor)

For and on behalf of Burton Sweet Limited Statutory Auditor The Clock Tower 5 Farleigh Court Old Weston Road Flax Bourton Bristol BS48 1UR

7/12/2022 Date: …………………..

15

THE NAVIGATORS UK LIMITED

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 AUGUST 2022 (INCLUDING INCOME AND EXPENDITURE ACCOUNT)

Note
Income from:
Donations and legacies
2
Charitable activities
3
Disposal of fixed asset
8
Investments
TOTAL
Expenditure on:
Charitable activities
4
Payments to representatives and projects
National and regional initiatives
Training, development and care
Events
Raising funds
4
TOTAL
Unrealised gains on investments
9
Net income/(expenditure)
6
Transfers between funds
12
Net movement in funds
12
RECONCILIATION OF FUNDS
Total funds brought forward
12
Total funds carried forward
12		 Unrestricted
general funds
£
69,326
85,060
-
1,750
156,136
96,489
146,928
50,078
60,558
11,497
365,550
1,949
(207,465)
167,093
(40,372)
486,290
445,918		 Unrestricted
designated funds
£
15,994
47,614
200
-
63,808
8,211
56,016
894
-
-
65,121
-
(1,313)
(29,780)
(31,093)
1,512,604
1,481,511		 Restricted
funds
£
1,498,037
-
-
-
1,498,037
1,341,485
1,136
-
-
-
1,342,621
-
155,416
(137,313)
18,103
155,992
174,095		 2022
Total
£
1,583,357
132,674
200
1,750
1,717,981
1,446,185
204,080
50,972
60,558
11,497
1,773,292
1,949
(53,362)
-
(53,362)
2,154,886
2,101,524		 2021
Total
£
1,487,022
43,468
-
557
1,531,047
1,351,780
132,188
14,998
24,464
1,439
1,524,869
-
6,178
-
6,178
2,148,708
2,154,886

The Charity has no other recognised gains or losses other than the results for the year as set out above. All the activities of the Charity are classed as continuing. Prior year fund comparatives are disclosed in note 18.

The notes on pages 18 to 25 form part of these financial statements.

THE NAVIGATORS UK LIMITED

Registered in England & Wales (01099148) and Scotland (SC038484)

16

BALANCE SHEET AS AT 31 AUGUST 2022

Note
TANGIBLE FIXED ASSETS
8
INVESTMENT ASSETS
9
CURRENT ASSETS
Stock of literature and merchandise at cost
Prepayments and debtors
10
Savings accounts and Charity Deposit Fund
Cash at bank and in hand
CURRENT LIABILITIES
Creditors: amounts falling due within one year
11
NET CURRENT ASSETS
TOTAL NET ASSETS
STATEMENT OF FUNDS
Restricted funds
13
Unrestricted funds
General funds
13
Designated funds
13
TOTAL FUNDS
13		 £
7,903
72,558
320,142
146,240
546,843
(15,195)
(15,195)
20		 £
1,392,927
176,949


531,648
2,101,524
174,095
445,918
1,481,511
2,101,524
22		 £
5,670
127,669
436,054
213,763
783,156
(16,684)
(16,684)
2		 £
1,388,414
-


766,472
2,154,886
155,992
486,290
1,512,604
2,154,886
021

These financial statements have been prepared in accordance with the special provisions for small companies under part 15 of the Companies Act 2006.

Approved by the Trustees on 7th December 2022 and signed on their behalf by:

…………………………………………………………………………………………...………...……………………………………………………… S. Wroe

The notes on pages 18 to 25 form part of these financial statements.

THE NAVIGATORS UK LIMITED

17

STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 AUGUST 2022

Note
OPERATIONAL CASH FLOWS
Cash flowsfor operating activities
Income from donations and legacies
20 (A1)
Costs of raising funds
20 (B2)
Net inflow for operating activities
Cash flowsfrom operating activities
Income from charitable activities
20 (A2)
Costs of charitable activities
20 (B1)
Net outflow from operating activities
Net inflow/(outflow) of operating activities
NON-OPERATIONAL CASH FLOWS
Investing activities
Interest from investments
20 (C1)
Costs of purchasing fixed assets
20 (C2)
Sale of fixed asset
20 (C3)
Purchase of investment asset
20 (C4)
Net inflow/(outflow) from investing activities
Net cash inflow/(outflow) for year
20		 2022
Total funds
£
1,629,598
(11,497)
1,618,101
132,067
(1,753,794)
(1,621,727)
(3,626)
1,744
(6,753)
200
(175,000)
(179,809)
(183,435)		 2021
Total funds
£
1,434,865
(1,439)
1,433,426
41,854
(1,503,581)
(1,461,727)
(28,185)
514
(1,454)
-
-
(940)
(29,125)

Charity law prohibits the use of net cash flows on any restricted fund to offset net cash outflows on any fund outside of its own purposes, except on special authority. In practice, this restriction has not had any effect on cash flows for the year.

The notes on pages 18 to 25 form part of these financial statements.

18

THE NAVIGATORS UK LIMITED

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 AUGUST 2022

1. ACCOUNTING POLICIES FOR THE YEAR ENDED 31 AUGUST 2022

The principal accounting policies are summarised below. The accounting policies have been applied consistently throughout the year and in the preceding year.

a. Basis of accounting

The Charity is a public benefit entity. The financial statements have been prepared in accordance with the historical cost convention (except for investments which have been included at fair value) and in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued in October 2019 and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Companies Act 2006 and UK Generally Accepted Practice as it The trustees consider that there are no material uncertainties related to events or conditions that cast significant doubt on the Charity's ability to continue as a going concern.

b. Fund accounting

b. Fund accounting
Unrestricted funds are available for use at the discretion of the trustees in furtherance of the general objectives of the Charity. Unrestricted designated funds
are unrestricted funds set aside by the trustees for particular purposes.
Restricted funds are subjected to restrictions on their expenditure imposed by the donor or through the terms of an appeal.
c. Income
All income is included in the Statement of Financial Activities when the Charity is entitled to it and the amount can be quantified with reasonable accuracy. The
following specific policies are applied to particular categories of income:
Income from donations and legacies is received by way of donations and gifts and is included in full in the Statement of Financial Activities when receivable,
including the related tax recoverable under the Gift Aid scheme.
Donated assets, services and facilities are included at the value to the Charity where this can be quantified. The property donated to the charity in the prior
year as a legacy was recognised in the accounts at value to the Charity (based on the open market value as reported to HMRC by the probate solicitor). The
value of services provided by volunteers has not been included in these financial statements.
Income from investments is included when receivable. A portion is allocated to various restricted funds on the basis of the average balance in these funds
over the financial year. The remainder is allocated to unrestricted general funds.
Income from legacies is recognised when there is entitlement to the income (the charity has been notified of the terms of the will after the death of the
benefactor), it is probable that the asset will be receivable and it is measurable.

d. Expenditure

d. Expenditure d. Expenditure
Expenditure is recognised on an accrual basis, as a liability is incurred. Expenditure includes VAT, which cannot be recovered and is reported as part of the
expenditure to which it relates.
Expenditure related to raising funds comprises the costs associated with attracting voluntary income.
Expenditure related to charitable activities comprises those costs incurred by the Charity in the delivery of its activities. It includes both costs that can be
allocated directly to such activities and those costs of an indirect nature necessary to support them.
Central support costs are allocated to the different charitable activities on the basis of estimated time spent by the support staff. These estimates are
reviewed annually.
Governance costs include those costs associated with meeting the constitutional and statutory requirements of the charity and include the audit fees and
costs linked to the strategic management of the charity. Governance costs are included within support costs.

e. Tangible fixed assets

Assets costing more than £1,000 are capitalised. Assets are initially recognised at cost or value to the Charity, and then held at this value less subsequent depreciation. An annual review for indicators of impairment is carried out on the property of the Charity by the Trustees. Depreciation is provided at the following annual rates in order to write off the cost of each asset over its estimated useful life (a full year's depreciation is calculated in the year of purchase and none in the year of disposal):

f. Stock

Stocks of literature and merchandise are stated at the lower of cost and net realisable value. Provision is made for slow-moving stock when appropriate.

g. Debtors

Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid after taking account of any discounts due.

h. Cash at bank and in hand

Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

i. Creditors

Creditors are recognised as soon as there is a legal or constructive obligation committing the Charity to pay out resources. Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any discounts due.

j. Pensions

The charity operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the charity and are independently administered. Contributions are charged in the accounts as they become payable in accordance with the rules of the scheme.

k. Leasing commitments

Rentals paid under operating leases are charged to the Statement of Financial Activities on a straight line basis over the period of the lease.

THE NAVIGATORS UK LIMITED

19

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 AUGUST 2022

2 INCOME FROM DONATIONS AND LEGACIES

Donations
Legacies
Tax refunds		 Unrestricted
general
funds
£
34,003
29,003
6,320
69,326		 Unrestricted
designated
funds
£
-
15,994
-
15,994
2022		 Restricted
funds
£
1,310,720
-
187,317
1,498,037		 Total
£
1,344,723
44,997
193,637
1,583,357		 Unrestricted
general
funds
£
53,148
2,750
6,204
62,102		 Unrestricted
designated
funds
£
500
71,936
-
72,436
2021		 Restricted
funds
£
1,180,972
-
171,512
1,352,484		 Total
£
1,234,620
74,686
177,716
1,487,022
Administration subscriptions
National and regional initiatives
Training, development and care
Events and trips
Rental income from NavEurope
Provision of office support to NavEurope		 Unrestricted
general
funds
£
7,720
13,410
23,106
28,740
4,498
7,586
85,060		 Unrestricted
designated
funds
£
-
47,614
-
-
-
-
47,614
2022		 Restricted
funds
£
-
-
-
-
-
-
-		 Total
£
7,720
61,024
23,106
28,740
4,498
7,586
132,674		 Unrestricted
general
funds
£
7,333
7,926
3,583
5,838
4,615
8,507
37,802		 Unrestricted
designated
funds
£
-
5,666
-
-
-
-
5,666
2021		 Restricted
funds
£
-
-
-
-
-
-
-		 Total
£
7,333
13,592
3,583
5,838
4,615
8,507
43,468

4 EXPENDITURE ON CHARITABLE ACTIVITIES AND RAISING FUNDS

Charitable activities
Payments to representatives & projects
National and regional initiatives
Training, development and care
Events and trips
Raising funds		 Direct
costs
£
1,372,295
96,927
40,108
33,911
695
1,543,936		 Central
support costs
£
73,890
107,153
10,864
26,647
10,802
229,356
2022		 Total
£
1,446,185
204,080
50,972
60,558
11,497
1,773,292		 Direct
costs
£
1,261,454
31,237
6,117
8,271
574
1,307,653		 Central
support costs
£
90,326
100,951
8,881
16,193
865
217,216
2021		 Total
£
1,351,780
132,188
14,998
24,464
1,439
1,524,869

Central support costs are analysed in note 5.

Central support costs were divided on the basis of support staff time, with the split between charitable activities for each member of staff reflecting the particular activities they are involved with.

National and regional initiatives includes central support costs related to work of the European Navigator Region (£12,084).

Within payments to representatives & projects (direct costs), institutional grants of £92,854 (2021: £54,710) were paid to Navigator projects in UK, Africa and North America. The remaining payments of £1,279,441 (2021: £1,206,744) consisted of grants to individuals.

5 CENTRAL SUPPORT COSTS

6 Costs relating to staff
Costs relating to premises
Administration, communications and other charity running costs
Costs relating to governance
NET INCOME BEFORE TRANSFERS
This is stated after charging:
Depreciation
Auditor's remuneration		 2022
£
134,353
22,443
63,366
9,194
229,356
2022
£
2,240
7,800		 2021
£
127,145
23,449
58,889
7,733
217,216
2021
£
15,381
6,600

20

THE NAVIGATORS UK LIMITED

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 AUGUST 2022 (continued)

7 STAFF COSTS AND NUMBERS

Salaries and wages
Employer's national insurance contributions
Pension contributions		 2022
£
114,827
5,679
8,905
129,411		 2021
£
109,012
5,950
8,943
123,905

No employee received emoluments of more than £60,000 p.a. The average number of employees was five (2021: four).

No employment benefits were paid to key management personnel (2021: none).

8 FIXED ASSETS

Cost
At 1 September 2021
Disposals
Additions
At 31 August 2022
Depreciation
At 1 September 2021
Depreciation on disposals
Charge for the year
At 31 August 2022
Net book value
At 31 August 2022
At 31 August 2021		 Equipment
£
11,303
(8,624)
2,599
5,278
8,889
(8,624)
2,032
2,297
2,981
2,414		 Property
£
1,400,000
-
4,154
1,404,154
14,000
-
208
14,208
1,389,946
1,386,000		 Total
£
1,411,303
(8,624)
6,753
1,409,432
22,889
(8,624)
2,240
16,505
1,392,927
1,388,414

A surplus of £200 on disposal of one item of IT equipment was generated through sale.

9 INVESTMENT ASSETS

At 1 September 2021
Purchases
37,626.32 CCLA Charities Ethical Investment Fund Accumulation Units
Unrealised Gain
CCLA Charities Ethical Investment Fund Accumulation Units
At 31 August 2022
PREPAYMENTS AND DEBTORS
2022
£
Debtors re income from donations and legacies
58,068
Debtors re income from charitable activities
1,282
Debtor re cost of charitable activities
226
Debtors re income from investments
105
Prepayments re costs of charitable activities
12,877
72,558		 2022
£
-
175,000
1,949
176,949
2021
£
104,309
594
379
99
22,288
127,669

10 PREPAYMENTS AND DEBTORS

The difference in debtors from donations and income is largely due to a legacy debtor of £68,135 in 2021.

11 CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Deferred income re income from charitable activities
Creditors/accruals re cost of charitable activities:
Tax and national insurance
Other creditors
Accruals		 2022
£
357
1,986
5,025
7,827
15,195		 2021
£
429
1,643
7,688
6,924
16,684

THE NAVIGATORS UK LIMITED

21

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 AUGUST 2022 (continued)

12 MOVEMENT IN FUNDS

Prior year comparatives are disclosed in note 19.

At
1 Sept 2021
Note
£
UNRESTRICTED FUNDS
General Funds
486,290
Libby Hinton Fund (designated)
(i)
20,170
Tithe Fund (designated)
(ii)
5,093
Fixed Assets Fund (designated)
(iii)
1,388,416
Central Services Fund (designated)
(iv)
40,820
London House Fund (designated)
(v)
58,105
1,998,894
RESTRICTED FUNDS
Representative Funds
(vi)
97,091
Admin Fund
(vii)
-
Scottish Admin Fund
(viii)
5,843
Robinson Africa Fund
(ix)
47,043
Second Half Living
(x)
3,817
Connect
(xi)
920
Student Ministries
(xii)
-
Church Ministries
(xiii)
1,136
Other restricted gifts
(xiv)
142
Other restricted grants
(xv)
-
155,992
TOTAL FUNDS
2,154,886		 Income
and gains
£
158,085
-
-
200
2
63,606
221,893
1,466,040
15,708
720
-
-
30
98
5,441
10,000
1,498,037
1,719,930		 Expenditure
and losses
£
(365,550)
(894)
(8,211)
-
-
(56,016)
(430,671)
(1,340,244)
-
(1,241)
(1,118)
-
-
(18)
-
(1,342,621)
(1,773,292)		 Transfers
between funds
£
167,093
-
4,454
4,311
(29,345)
(9,200)
137,313
(114,534)
(15,708)
-
-
-
(920)
(30)
(8)
(5,313)
(800)
(137,313)
-		 At
31 Aug 2022
£
445,918
19,276
1,336
1,392,927
11,477
56,495
1,927,429
108,353
-
6,563
45,802
2,699
-
-
1,208
270
9,200
174,095
2,101,524

Transfers shown are net movements between funds and consist of:

Transfer of designated funds
Administration charge transfers
Ministry transfers
General Fund transfers		 Unrestricted
general funds
£
29,780
109,644
22,736
4,933
167,093		 Unrestricted
designated funds
£
(29,780)
-
-
-
(29,780)		 Restricted
funds
£
-
(109,644)
(22,736)
(4,933)
(137,313)		 2022
Total
£
-
-
-
-
-

22

THE NAVIGATORS UK LIMITED

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 AUGUST 2022 (continued)

13 ANALYSIS OF NET ASSETS BETWEEN FUNDS

Tangible fixed assets
Investment assets
Net current assets
Total net assets at 31 August 2022		 Unrestricted
funds
£
1,392,927
176,949
357,553
1,927,429		 Restricted
funds
£
-
-
174,095
174,095		 2022
Total
£
1,392,927
176,949
531,648
2,101,524		 2021
Total
£
1,388,414
-
766,471
2,154,885

14 COMMITMENTS UNDER OPERATING LEASES

At 31 August 2022 the charitable company had future minimum lease payments under non-cancellable operating leases for each of the following periods:

Within one year
Within two to five years		 2022
£
21,712
23,138
44,850		 2021
£
24,311
4,035
28,346

Expenditure on the Statement of Financial Activities for the year ended 31 August 2022 relating to these leases was £25,418 (2021: £25,663).

15 TRUSTEES' REMUNERATION

None of the trustees received any remuneration in the year (2021: £nil).

£209 travel expenses were reimbursed to two trustees (2021: £nil).

16 DONATIONS FROM RELATED PARTIES

Aggregate donations (including tax refunds) received from trustees, key management personnel and their close family members was £30,825 (2021: £15,237).

17 RELATED PARTY TRANSACTIONS

Related party transactions during the year relate to grants made to the self-employed representatives to further the purposes of the charity.

Helen Heron is a trustee of The Navigators UK Limited and is a close family member of Kat Shepherd, a self-employed representative of the charity. Grants made to Kat Shepherd to further the purposes of the charity were £17,088 (2021: £21,161).

At the start of the financial year Philip Boydell became Country Leader of The Navigators UK Limited, a role that is considered to be key management personnel, and is a close family member of Rosalyn Boydell. As described in the Trustees Report, the Country Leader operates as a self-employed representative of the charity and as such grants totalling £75,160 were made to Philip and Rosalyn Boydell to further the purposes of the charity.

23

THE NAVIGATORS UK LIMITED

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 AUGUST 2022 (continued)

18 PRIOR YEAR FUND COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES

Income from:
Donations and legacies
Charitable activities
Investments
TOTAL
Expenditure on:
Charitable activities
Payments to representatives and projects
National and regional initiatives
Training, development and care
Events
Raising funds
TOTAL
Net income/(expenditure)
Transfers between funds
Net movement in funds
RECONCILIATION OF FUNDS
Total funds brought forward
Total funds carried forward		 Unrestricted
general funds

£
62,102
37,802
518
100,422
101,257
106,767
13,706
24,464
1,439
247,633
(147,211)
143,989
(3,222)
489,512
486,290		 Unrestricted
designated funds
£
72,436
5,666
-
78,102
16,400
24,129
1,292
-
-
41,821
36,281
(21,276)
15,005
1,497,599
1,512,604		 Restricted
funds
£
1,352,484
-
39
1,352,523
1,234,123
1,292
-
-
-
1,235,415
117,108
(122,713)
(5,605)
161,597
155,992		 2021
Total
£
1,487,022
43,468
557
1,531,047
1,351,780
132,188
14,998
24,464
1,439
1,524,869
6,178
-
6,178
2,148,708
2,154,886

THE NAVIGATORS UK LIMITED

24

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 AUGUST 2022 (continued)

19 PRIOR YEAR COMPARATIVES FOR THE MOVEMENT IN FUNDS

Note
UNRESTRICTED FUNDS
General Funds
Libby Hinton Fund (designated)
(i)
Tithe Fund (designated)
(ii)
Fixed Assets Fund (designated)
(iii)
Central Services Fund (designated)
(iv)
London House Fund (designated)
(v)
RESTRICTED FUNDS
Representative Funds
(vi)
Admin Fund
(vii)
Scottish Admin Fund
(viii)
Robinson Africa Fund
(ix)
Second Half Living
(x)
Connect
(xi)
Student Ministries
(xii)
Church Ministries
(xiii)
Other restricted gifts
(xiv)
TOTAL FUNDS		 At
1 Sept 2020
£
489,512
20,962
13,294
1,402,343
61,000
-
1,987,111
88,133
-
5,123
62,004
3,811
460
1,206
860
-
161,597
2,148,708		 Income
and gains
£
100,422
500
-
-
3,800
73,802
178,524
1,333,236
13,024
720
39
100
1,000
-
300
4,104
1,352,523
1,531,047		 Expenditure
and losses
£
(247,633)
(1,292)
(16,400)
(14,000)
-
(10,129)
(289,454)
(1,219,123)
-
-
(15,000)
(86)
-
(1,206)
-
-
(1,235,415)
(1,524,869)		 Transfers
between funds
£
143,989
-
8,199
73
(23,980)
(5,568)
122,713
(105,155)
(13,024)
-
-
(8)
(540)
-
(24)
(3,962)
(122,713)
-		 At
31 Aug 2021
£
486,290
20,170
5,093
1,388,416
40,820
58,105
1,998,894
97,091
-
5,843
47,043
3,817
920
-
1,136
142
155,992
2,154,886

(i) Libby Hinton Fund holds part of a legacy that has been designated by the trustees for the provision of counselling, spiritual direction and retreats. (ii) Tithe Fund holds money designated by the trustees to be used as grants for projects and individuals associated with other Navigator organisations worldwide in line with the Charity's objectives.

(iii) Fixed Assets Fund is a fund designated by the trustees to hold the value of fixed assets and the value of a property legacy awaiting transfer of the title to the Charity.

(iv) Central Services Fund holds part of a legacy that has been designated by the trustees to contribute towards central support costs. (v) London House Fund (designated) holds a legacy relating to the London House and rental income. The fund has been designated to allow monitoring of the costs of operating and maintaining the property.

(vi) Representative Funds represent restricted donations to The Navigators UK Limited for the support of individual self-employed Navigator representatives or their ministry funds.

(vii) Admin Fund is a fund to receive restricted donations for administration costs.

(viii) Scottish Admin Fund is a fund to receive restricted donations for administration costs associated with events and initiatives in Scotland.

(ix) Robinson Africa Fund is a restricted fund comprising a legacy left to The Navigators UK Limited to be used for work in Africa.

(x) Second Half Living is a fund to receive restricted donations for Second Half Living initiatives.

(xi) Connect is a fund to receive restricted donations for the Connect graduate training programme.

(xii) Student Ministries is a fund to receive restricted donations for Student Ministries initiatives.

(xiii) Church Ministries is a fund to receive restricted donations for Church Ministries initiatives.

(xiv) Other restricted gifts represent small restricted donations for specific events or national initiatives.

Transfers shown are net movements between funds and consist of:

Transfer of designated funds: movement of funds set aside by the trustees for specific purposes from unrestrictedfunds into designated funds. Administration charge transfers: a levy on donations received transferred from various restricted funds to unrestricted general funds. Ministry transfers: movement of funds from restricted funds to unrestricted funds to contribute towards expenditure in line with their restrictions. General Fund transfers: donations that in the past have been restricted and have been redirected by the donor to unrestricted general funds.

Transfer of designated funds
Administration charge transfers
Ministry transfers
General Fund transfers		 Unrestricted
general funds
£
21,276
98,118
17,694
6,901
143,989		 Unrestricted
designated funds
£
(21,276)
-
-
-
(21,276)		 Restricted
funds
£
-
(98,118)
(17,694)
(6,901)
(122,713)		 2021
Total
£
-
-
-
-
-

THE NAVIGATORS UK LIMITED

25

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 AUGUST 2022 (continued)

20 RECONCILIATION OF THE STATEMENT OF FINANCIAL ACTIVITIES

A1
Income from donations and legacies
(Increase)/decrease in debtors
A2
Income from charitable activities
(Increase)/decrease in debtors
Increase/(decrease) in deferred income
B1
Costs of charitable activities
Depreciation charged
(Increase)/decrease in prepayments
Increase/(decrease) in creditors and accruals
(Increase)/decrease in stocks
B2
Costs of raising funds
C1
Interest from investments
(Increase)/decrease in debtors
C2
Costs of purchasing fixed assets
C3
Surplus from disposal of fixed asset
C4
Purchase of investment asset
Balance sheet movements		 Statement of
Financial Activities
£
1,583,357
132,674
(1,761,795)
2,240

(11,497)
1,750
(6,753)
200
(175,000)		 Debtors &
Prepayments
£
46,241
(535)
9,411
(6)
55,111		 Creditors &
Accruals
£
(72)
(1,417)
(1,489)
2022		 Stock levels
£
(2,233)
(2,233)		 Cash flow
£
1,629,598
132,067
(1,753,794)
(11,497)
1,744
(6,753)
200
(175,000)
(183,435)		 2021
Cash flow
£
1,434,865
41,854
(1,503,465)
(1,439)
514
(1,454)
-
-
(29,125)

21 ANALYSIS OF CHANGES IN CASH AND CASH EQUIVALENTS

Savings account and CCLA
Cash at bank and in hand
Savings account
Cash at bank and in hand		 2022
£
320,142
146,240
466,382
2021
£
436,054
213,763
649,817		 2021
£
436,054
213,763
649,817
2020
£
350,867
328,075
678,942		 Change
£
(115,912)
(67,523)
(183,435)
Change
£
85,187
(114,312)
(29,125)