Roglstornd numlmr: 05309512 Charfty numljer: 1108296 UNITED UTILITIES TRUST FUND (A company Ilmfted by guarantee) TRUSTEES. REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 A8FZAEJV A07 0311112022 COMPANIES HOUSE
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UMrrED ununES TRUST FUND {Acompany lThfted by quarnntee) COIITENTS Page R•fer•n and •dministrati¥• detsils of th• mThy. its Trustees and advi8er6 Trustees. report Tru6te•s' r•spon$lbllfties stat4m•nt Independenl audllofs r•port the IlThan¢lal $14tements Stat•ment of financlal acti¥tties 8-11 12 Balanc• shoot 13 St•t•m•nt of ush IIOWB 14 Notes to th• flnanclal slatements 15-23
UNITED LITILMES TRUST FUND {A comnY Ilmlted by guarantee) REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY. ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 MARCH 2022 Trust90$ Mrs D8borah mc¥tc. Chair Mr Alastair Rlthards Mr Slmon {resigned 27 thjne 2022) Lynne Heath Mrs Sandra Mccauahley (reslgned 6 February 2022) Mr Marbn Crovknurst {aptxinte(13 May 2022) Mrs JfyAnne Bcwll Isppointed 3 May 2022) coMnY r•gist•r•d numb•r 05309512 Charlty re9lslered numb•r 1108296 Re9lster¢d offl¢e and prlnclpal addr8 12-14 Mill Street Sutton Coldfiekl West MKllands B72 1TJ Senlor ffjanagement t••m The Trust has Th) emF4oJEes has 8NJaged Auriga Servitx Limited as a tthi pwty provmlgr forathnlrristTrlI and managnt on bthalfofthe TnJ8I. Independent authtor crrY U.K. LLP Blad( County Housè RouThJs Grean Road dbury West MidlarKIs 869 2DG Banke Royal Bank of So)Iland 38 Mos* R(wJ 028E Page 1
UNITED UTIUTIES TRUST FUND IA company limlted by guarnntsè) TRUSTEES. REPORT FOR THE YEAR ENDED 31 laARCH 2022 Ths Trustees we5ent thetr report and the audlt8d fmncial ststemerrts fcrf the year erded 31 Marth 2022. ctu Go ndm m•nl Govemin Th8 ganIsatIon is a charitable company limited by guarantee. irFc4Jrporaled on 9 Dember 2(AJ4 and registered as a charity on 24 FebnAry 2005. Registered MpanY number ts 05309512 arLd charity 1108296. Thè organisatlon is govemed tythe Artides ofAssaaalion. nt Recnjhment of Ihe flrsl Trustges by sewon tythe settkrfdrawry from experienL% of the sedor and ol Ihe region we help is to b8 provitled. Trustees have wjbsequentty been appted followng public athrtisement. A list of Trustee8 who governed in the year can be fowKI cffi pe 1. Trusteè Ind trainin 8efore anyon8 considers saBknng 8wnlmenl as a Trustee, as W of the indudton process. they 8re expected to fnillase th8msefves wilh the respwbilrtw ol charity trustees, read the Charity Commission Ilter¥knrn w this subjÉc# and carefulty the trust deed. s•ttk¢$ dire¢tw)ns the latest financlal statements. Opportunities for trainirwd are readity available arwj TNste85 are wc¥)uraged to familiaiise themse$ with the day day operations. sk na The Trustees have Gonsiderèd the risks to whicj) the chènty is eyposed aTrJ have taken steps to mitigate those risks. The Trustees completed a ftdl rewew of the iisk regisler in 2021122 and regularty update this at Trustees. meetings. The Twstees periodilly remew Ihe risk profde of tr dwity. This involves idenlty'ro the typ8$ of rLqk the charity faces, prtoriti5ing thern in tem of potential impaca likelihctsj of cwJrrence, and identyng the Tneans of mitigating those risks. As part of this prw&ess. the Tntstees vKsrk closety i•rilh Aurfga Services Limlted. who manage the day to day operat•)ns. lo ¢))ntinually assess the adequacy of the chantys cuffent inlemal Gontmls a1 the costs of operating Ihem relgiNe to the benefits cthined. Any thanges 10 Control systems would be agreed by Trustees. The Tru8tees have congidered Ihe risk that all dortn5 4re r1Ved from United Ulle$ Water pk and the issues that will arise from a failure to recave lulure dLMations from United Utilities Water plc. The risk has been mibg¥ted by agrneing ilh United Ublilies Water that 8 datSun of £3.5m Is guaranteed for the n8xt year 12022r20231. The Tntee$ have c)nEidered the conlinued IPaCt on Ihe pM(ypal risks of Covié>19. The Truees Klentif*d th8t Ihe of CovKk19 on the ec4Jr¥Jry may reyJR in an Irve8se In the number of appli¢8nts. Their response was to review Ihe c#itWi8 awarairy grants as necessary to 8n8ure that grants CtinUe to be awarded to those apr4icants greatest Tthd. Page 2
UNITED imuTIES TRUST FUND (A company Ilmlted by guarantee) TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022 The Trustees idenbfied that Auriga Limrted's at4rty to meet its cmlractual liabilit5 lo the dlarty rUld be affected by th19. This risk is normalfy miiigated by Ihe atteThJance of Awi98 directo and operati($ Managers at Tnjstee meetiros as well as the review and monitoriThJ of Auriga's perfonnance by Trustees. The Tmstees also sought assuran from Auri9a Savices Limited of its abilty to clt[nUe to operate as norrnal wh8n all employees moved to hCfflewoirvj and are maintsinmg regular (ntact 4bith Auriga direGtors and operat•n$ managers. anisatic¥wl strwtyre The structure of the organisBt)n comprtses the Board of Trustees wilh all rrt admlnlstratlve and pollcy decisions made bythe Trustees iointty. There is a single c>)mmitiee vthich is the Audit Crmmittee. Administrative decisions are delegat to Auiiga SeThs Lirrwteo act on thalf of Trustees uThJer an approvod S¢herr of Delègation. The Trustees do 8mpby sl811 dirXly and hokl rK) matwial assets thr than bank balances. The Audll Commmee Is a ¢ommlttee estsbhshed by the Board of Tnjstees and has authority from the BoBrd to rewire Auriga Swros Limited to rek)Ort on any aspect of the pwrs deated lo l in respect of the man89ement oftha ch8rity and on rfs $8rnc8 FmVlS. The responsibility of the committee Is.. to erwre Ihal th is an apyopriale and effective fram8wth of accountaiility. 10 examine and revi8w all systems and mothods of c3Jntrol both financial and induding risk ana[$ and risk managementr to assist the Boar(l in longer-lemi finanaal planning and in reVryny perfornwnce against th& budget and actmty projedions: to prepare and present to Tr188$ the aLKlit Flan, to revw the draft nUal acc¥)unts and the 8j11 rew¢ for tsir approval.. to ensure ihe charfty rs complyng all aspe¢s olthe law. relevant reatiOnS and pr8Ctiee; lo enswe the charity has relevant systsrns al Processes in plae to enable it to comply with all aspects of the law. relevant reguL4ttons and gc<xJ pra(AK. The commillee may be aUthord to investvJate behalT of the Board anwhing that threatens or adversely affects the accomplishment of the charTWs aims and obieL*ives. its assets. the reNablity of all records and Infomatti)n. mplir tmth all rekvant lav•S. regulab¢Jns. [kn$. and rfs govemirvJ articks. The committee shaN requost orKI review reports and pxitive assurnnces from Aurtga Servtem Limited on the overall arrangements lor governance, risk management and inlemal LxJntrt4. 11 may also request specAfic rep]rts from individual luThthons within Auriga Serwces Limile¢J as may be apprO[ale to the cverall aangementS. The Audit ccAmtte9 will ccrnist of no fewer than Twstees oppoinled bythe Board. The Chair of the Comrittee wlll be apw)inted by Board. The Company Secretary shall attand meetings of thg Commrtte8. along with any other eMplO9S of Auriga Semces Limtted who may be required. Unlèss othervmse det•miined by the Board. a quLYum shall consist of members of the Audit C¢ynmittoe. (rhe Chalr does not have lo be present ft)r a qu¢yum exisLI Page 3
UNE0 UTILMES TRUST FUND IAcompany Ilmited by gu¥anl¢o) TRUSTEES. REPORT {COP4TINUED) FOR THE YEAR ENDED 31 MARCH 2022 141embership of the committe8 and fts terms of referere shall be revIed annualy by the Board at the Annual General Meeting. Any Trustee of Uniled UlilitW Tnt Fund has the right to attend anyAudit Committee meeting. The e4)mmittee meets al least Iwic a >ear. During the yearthe Audit Comrnittee Alastalr Rithwds {ChairnBn), Sinon Dev&snip and Lynne He8th. ectlves and actlvltles for the. ublk benefft The Cttaritys objects are the relf of those persons who are Condition of need. povety. hard5lip or other dkstres$ and ar8 unable to meet the ¢(tsl of charges It suppEy of water andlor sewera9e services provided to premises used or 0pIe by Ihem by United Utilities as water andlor sewerage undettskèr appointed pursuant to the Water Industry Act 1991 (or any stsbJtory mcx1ffi(tIn or arnendment to that Act). Suth relief is lo be provided al such times and in such manner as the Twstees thlnk fft and Indudes the preventfjon and relief of poverty by the provision of adwe. o)unseifirvJ and Ihe education of the general publTrc in relation to debi. debl awareness debt preventHXb. The Tnjstees cerfirn Ihat they have referred to th8 guisan ¢ontsined in the Charity Commission's general guidancE on public benefft kn remewng the Tru5fs aims al thieclives and in planning future activiltas and sethng ihe grdnt m8kfing polkyfc the year. The Trustees provtyje grants to assist elaIble people or org8nisatio to achie4e thB 11$ objects. Howo rnffttsd Achievements and Durfrtg Iho year 8 £3.5m don8th)n was recepAd from United Utiiili85 Watsr Pk {2021 - £3.5ml. This is the seventeenth of thg tharitys athvities and it has wothed to ensure that potential bwjetsiaries we aware of the availablllty of grants. as well as prowdirKJ grants there 8Ftle. In pursuit of ch8ritsble oblecw. the Tnjsl was Ao to ward grants lo indNiduais tthvards waler and othèr prilty costs. Grant paents havo been made. as far as possitAe, direcuy to tre or9anisabon lo whit the amount is due. The aim of the Tnjsl Is to h Peop of irnmediate l$iS and finawal drffiaulty and wherever possible, ki eneourage future fmane481 Stsbibty. Duriry the year the Trust rtteiv&Y 8.479 12021 8,481} applicatSons and was able to provlde grants and fwther aStanC to 3,759 (2021- 3.788) itmlividuals orfamilies affl¢yJnting to £2075.64512021- £2.879.1Cfj). In Marth 2021 the Charity receiv1 a grani of £270,988 from El Saving Trusl. The Trust akn issued 4,902 emergerKy cherS a value of£240.100 to 2.892 iThJiv>duols and famiknes fvnding from the Energy Saviro TrusL ni nal TDJsts•8 racognlsa the v¥lu6 of offering k>rwJ lorn1 help and supK>xt to Indlviduals experierng hardship and have adopted a pc4icy of making grants available lo (ynisalions that provide free money advice and dèbt counselling servw. In wr3uiI of Chantab otiecti've5 Trustees paKI grants of £117,260 to fve organis8tions 12021- £S1,868) to supp)rtth8 delivary of monèy advice end debl ujunsdling services in thi8 flnanci81 >EAr Appll¢alOons are encouraged from coanisaiions that SpaSe in provlding delrt and money advice seryices that are focus1 on speuk grou Ofpeop. Page 4
UNITED LMUTIES TRUST FUND (AMpanY Ilmlw by 9uafantee) TRUSTEES. REPORT (COPrnNUEO) FOR THE YEAR ENDED 31 MARCH 2022 Trujtags. indomn The Trustees o)nfiThn that the panY has Twsiee5' 81x1 oifws. insurance in FI. FlnanGial review The Tnthes consider thet tr finandal p¢tsilKffi of the TNst is satsfacw. of Co¥id-19 Thè TnJstees have contirwed to the ThnpaL of Co-T9 on the chaiity whle there have been signifie4nt effecls for the wider economy. ¥ ha identified any swdnkn impact to dale or specffic risk th8t requlres furlher dlsclosure. The Trust maintsti)s reseNes to eUrE that It Is able to cx)ntinue lo fuffil ts cherftsb purrM)se by prO(fing for busine88 continuty and to suprxmt future pital and revenue expenditure reqUirnents whith may not be covered by inccffling resowces. At the end of Ihe p8rirY totsl lund5 (rf £323.170 (2021 - £318,253) ropresent unsIrted fvnts of £267.418 and £55,752 designatsd funds to meet the futsxe ¢tssts ol the w0visi of M¢Thy Advic4 and D8bt Counselling. The Trustees have the reseprf8s •cY in ts light of th8 Covi&19 pand8mi¢ aNI have agreed that the apprT101e target for the Trust's generaf. unrestricaed reserves Shj1¢j remain at apFYoximately £200,(KKJ. Th8 r058rves pdicy be agan during 2022.23. After considering the ContinLd pjtential impact of CoNI&19, the TNste8s 8re of the vtew that there are sufficienl reserve5 to se the imme¢Yiate future of ¢harity for Ihe next 12 to 18 months 8nd c4) that b891$ the charity Is a going concem. The trust deed gr8nts the Truees F#xr lo thi1 funds. emth 8 fvnd mwag8r and arrwde for Inveslmenls or othar propety of tharity to ts h8kl in th8 name of a rK>minee subkd to Ihe same o)nditsons Fwmltted by the Tnjslee 2000. The twstses have 8dopted a poky lo in%tst excess fund5 in a spedal inter85t beadrvJ account with the Ror41 Bank of Scdland. Plans for futuro rtoda The Truslees have Condere<j the wtenJal knpaGt of CO19 on the charity and have detemilned that as United Utilities Water PLC have confim)8d their commllmenl to support thè Trust until March 2023, the charity vjill b8 abb to conlinue to: PTowde grants up to the full value ol aVaIlab funds (a)ntinue its cfjmmltment to suppryt the organisaiional grant programme rnalntabn the relafjonstup ¥h tho dcOr c4Jmpany. United thItieS Water PLC. to conlknue tho VK*k of the TrusL Page 5
UNITED UTILMES TRUST FUND (A eompany Ilmlted by guoranto1 TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022 Informatlon fr•r the 8udltor In respect of each Trustee at the dale the Trustees. Rèpryt is svJned: So far as we ¥e aware. tsre is inf0vmall needed by the thaiitys auditor in nn810n with wgparirKJ their r¢port (rèlèvant audit irtforn)atn1 ol vknich they ar¢ unwiare. and As trustaos ofth? d)arity% have taken all steps lh we ought to have tsken in ryder to make oursefves aware ol any relevant audTI InfoatiOn to eStsl5h that the (*artWs authtor is aware of the infomiati¢YL Thls Ter has been prepared in acCCda11ce the Statement of Rec(¥nmended Practice. Acojunting and Roporl by Charrtl•s Ilssuad In January 20151 and rn acc(dance with Part 15 of the Companies Act 2006. The Trusteès have tsken advanlage ol Ih8 srnall c4>rnpanY8 exeiiw'on from preparwvJ 8 strategic report for the ar. Apwo¥fjd by order ofthe members ofthe bo• ofTruslees signed on their belwll by. Mrs D•b¢)rnh Mortan Chairof Tnle8S Dats.. 2 2. og Page 6
UNrrED UTILMES TRUST FUND (A ¢omparty Iwnlted by gute) STATEMENT OF TRUSTEES. RESPONSIBILMES FOR THE YEAR ENDED 31 klARCH 2(J22 The Tw$tees Ivtho are also the directors of the company for the rrtxposes of company law) are r8spon$ible for preparing Ihe Trustees, repmyi arKI Ihe firwwl statemerts In accordar¢e hth applicabb law and United lfjngdom Accounting Stsndards {United lfjngdom GenerallyAccepted A¢Unting Prdctitrl. Cornpary law r8qulres tre Twstees lo prepare finandal statements for firwnual w. Under company IAW. thfj Trustees must not approve financial slaternents unless they are satisfi&J that they glve a true and falr viow of the State of affairs of cornparry and of its incAJming resourrxs arKI applicatwjn of resources, induding its income and expenditure. lor that [0d. In wepèring these finarwl statements. the Trustees a required to.. sefect sutlabie ar£Cn11n9 policAes and then ¥tty them c(Sten. cther¥e the methods and prirKip4es ofthe char8$ Sl)RP IFRS 102)" make jutjgments and 8CClyJnts"r estimates that a reasonable and prudent,. state whether 8pplicatAe UK Acc%ntirj Stsndards (FRS 102) have be8n folbA•d. subiecl lo any material depariures disclosed and explaed in the financial ststements; prepare Ihe fmncial slalements on the goiry o)nwi basKg Unl it is ingPFryri8te to pr88ume Ihat the ts)mpany wll ccffitinue In t¥JS1n. The Tnee¥ are responsible for keeplng adeffjth 8c£rxrfrwJ record$ Ihat are rffiCient to show and explaln the companl$ tranSaCtior 8rKI disclc6e wllh reasonal)le acT8¢Y al any tim8 the financ481 ptssilion of trte company and enable them lo ensure thal the ffftanL?al slalemgnts comply vthlh th8 Comp8ni6s Act 2006. They a also rest)ble fty safeguardirvJ the assels of the canY and her>ce lor tsking reason8ble steps for Ihe wev8ntK>n and d8tfj¢tK)n of fraud and other irrewlarltles. Page 7
UNrrEO imLrriES TRUST FUND (A company limlted by guarantee) INDEPENDENT AUDITORE REPORT TO THE P15EP4BERS OF UNttEO UTILmes TRUST FUND Oplnlon We have audited the finanGial stslements of United Utilities Trust Fund (the 'tharitable compan) for the year efTded 31 March 2022 t7iG rxmprise ihe Stalemerrt of financial aclivities. 11)e BalaTr sheet. the Ststement of cash on¢J related Th)les. induding a summary of spJnificant aCrUnting policies. The finanaal reportin9 frarnework that has been applied in their weparntion is app1kab law and Un7Led Kingdorn Accounting Stan¢Jards, induding Finanrial RerM)rting Standard 1W2 'The Financial RetN)rting StsrKlard applicable in the UK and Republic of Irejanrt (United Kirvjdom Generally Acceptsd Accountlng Practice). In our Opin thefftnCiaI statements.. glve a twe and falr of Ihe stalè of the charitabk cJJmpanVs affairs as al 31 March 2022 and of ils incoming resources and aprAication of resources, incfudlng Its income and expenditure for the year then have been propety prepafed in ac£ordw vAlh Untted 1fjngdC Generally Accepted Accounting Practice,. and have been Prepared in accordane the r¢qments of the CpaeS Ad 2W6. 8a816 for oplnlon Wg conducted t)UT 8udil in acctydance with krtematicThl stsndards cfft Aurfrting (UIQ (ISAS {UK)l and applicable law. Our responsibilities under Ihose stsndards are furlher described in the Audllofs Teswnsibilitses for the audit of the finan(io1 statements sectK)n crf our rel)rt. We are ndeFendent of the charit8ble o)mp8ny in accordanc th the eth•21 requirernents that are relevant to ojr auort of the finandal ststem8nts in the United lQngdom. Induding the Financial Reporling Counafs El SlarKJèrd. and VK have fuifdied our other ethical responsibilities in ac£onlance svilh these requIreMets. We beleve that ts aEKtht 8denc4 wg have obtained is suffiwnt art(1 approat¢ to pro¥idfj a l)asi$ ¢yJr opiion. Concluslons r•latSng to going conc•rn In audiling the finanual slatemeTrt5, haTr• ¢ondLFded that the Ttea6, usa of the going ccmcem basls of ac4)ynb"ng in the pyeparation ol tr financial statements is appropTi8. Based on the ¥ have Ferforrned, we haTrt Thjt idèntifd any m8twial uncertginbes relolng to events or . cond¢tsons th8t. indivrdually ( edlectivety, may cast slgnificant doubt on Ihe cheritable mpanIS ability to continue a$ a wng ¢oncem ts a peric#J ot at least i¥th morrfh8 from when trR financkgl statements are avthorised for issue. Our wpOnsilE8S and the sports1tjes of ts Truste8s ilh rosp8Ct k ping c4Jnc£m are described in the relevant sections of this repoTL Page 8
VNrrED IMLITIES TRUST FUND
IA company Ilmlted by guarantee)
INDEPENOENT AUOIToifs REPORT TO THE MEMBERS OF UNITED UTILrriES TRUST FUND
(CONTINUED)
Oth•r Informatli>n
The other 1nfomwl1 mlse$ the Infom1 Iluded in the Annual rwt cts than the 11n8nl statements
our Auditots report thereon. Th¢ TnteeS are resw)nsible for the other lnfomab.on Cl181 wthin the
Annual report. Our opinion on ts financial statements tloes not Ver the other irfornwli(In and, except to the
extent olherwse eXpCItlY stated in our reprt do not express any form of assurance non thereon. Our
reSpsibility is to read the other information and. in doir4 so. consider vknethfjr the other information is
maleriamy inconsistent Wth the finaftaal statemenls or our krThge obtaIr in the c(yurse ot the audiL or
0th8rnvise appears to ba materth missLd. If we identify such material inconsistencies or apparent material
mi5Statèments, ¥re reqweAJ lo delerTnine ¥thather this giv w to a material misstatement in the financ¥al
statements Ihemsefves. tf, based on the work we have rrfcvmed. we cwlude that there is a mateftal
misststement of Ihis other inlomiation. are required to r8tM)rt that fact.
We heve nothlrw kTr report in thLq legard.
Opinion on other m•ttth5 W•SGrkned by the Comp•nles AGt 2006
In our q)inion. based undertaken in the (x)urse ofts wd.
lh9 InfWniC gNen kn the Tntees. Rert fly the fi[ for fingnrial statsments ere
prepared is JXSiStsnt with the financial st8temen
the TNsttts' Raptyt hes been prepar&1 in accd ith applib legal requlrements.
Matters ¢)n whlch Tme ar• rèoulred to report by e+pl
In tho Ight of our ke
UNITED UTIUTIES TRUST FUND (A company Ilmltsd by guarantee) INDEPENDENT AUDITOWS REPORT TO THE MEMBERS OF UNrrED UTIL lEs TRUST FUND (CONTINUED) Respon$ibilItl of trtsgtees As explained rnore fuly in Ihe Tw$lees' yespms1lI1i slatemenL the TrU#e (who are also the dwectors of the charitsble company f(Y the purposes of cornpany law) e responsiNe for Ihe preparation of the financial statements and for being satisfied that they 9ive a Iwe aThJ fair VTew. aTrJ for suth intemal o)ntrol 86 the Trustees detemine is necessary to enable the weparalion of financial slatements thot a free from malerial miss18temenl. whethef due to fraud or error. In preparing the financ4al statements, the Trustees are reSnble for assessing the charilable cAYnpanS abllity lo continue as a going concem. disdosing. a5 alcable. matters rdated to gtyng conwn and using the going concem basis of acrLJunting unless the Trustees either inlend to quidate the charitat4e company or to cease Operatior, or have no 811$1 altemaiive tsJl do so. Audltorfs reSPSIbIlItIeS forlhe audm of the flnan¢lal stat¢ments Our are lo ¢Jbtain reasonable assur¥nr about wlther Ihe ffinanoal ststements as • whole are free from material misstaternenl. whether lo fraLMJ or eTTCW. to issue an Auditorfs report that includes our opinion. Reason8ble assuran¢e is 8 high level crf 8$suran, bul 18 not a guarantee that 8n audit c(Jn¢Jucted in accordance wilh ISAS IUKI will detea a materi81 misstslement when it exists. Mlsstatements can arlse from fraud or error and are cons¢Jered m8terial rf. indfvidually or in the aggregate. they coulij reasonably be expacted ts intluence thg economic derysions of users laken on the basis of these finantsal Statemts. Irrggul8rilw inc4uding fraud. a instan$ of Th)nrfrynplrart• and re9ulalions. Wo deswJn prOdUreS in line with our resp)nsibility"es. outfrned above. to detect m8t8rr81 rnisststtsments in SpeCt of iffegulariti8S, luth.ng fraud. The extent to ttl¢h W(edre$ are wabl8 of detecw irragularfts"05. Iuding fraud Is detailed below. We obtained an understandiThJ of Ihe legal and rtgul&ory framewor within vkni¢h the charflable company operates. focusing on Ihose laws regulatsorK8 ttwt have a direct effect the del8milnathJn of matertal amounts and disdosufys in the fnartol staiements. The laws and rewlations we consldered in this contéxt were the compan Act 20J6, the Ctt8ritw Acl 2011 tcgeiher wilh the Charitles SORP IFRS 102). We assessed the required complance S¢h these lavts and regulalh)ns as part of our audit procadures on the relatad fin8n¢ial statement itoms. In additi, we wisidered provisions of other I and TeJAathS that do not have a dlrect effed on the financial stslernents but comk)liance I•th wthich might be fijndamerttsl to tharilab U)mpan$ abllty to operate or to avoid a material penalty. We also consmlered Ihe opportunititis and incentlves that may exist withln the clj8ri1able comp8ny for fraud. The laws and regLlations )ndered in this C11e for the UK operalbns were er81 Data Protection Rwjlation (GDPR). Emttynent legisk4iK)n atvj Taxatlon leoislation. Audilin9 StaalS lirnil the required audit procedures to idenbfy rJon<¥mpliance wrfth these laws and regulations to enquiry of the Trustees and other management and Insped¥ of reguLatOry and legal cx)rrespondence, If any. W8 identified the gre8tesl risk of matert81 Kry)act the finanLy81 statements from irre9ukr?ti8s. induding fraud, to be within the override of controls ty managemenl. Our audrt proe£dures to respond to these risks induded anquiries of manag8mont about tr1r own idantificaiion afyj assessmant of the risks of iffegularitsas, sample lesting on the pos(tng of 1MalS, re¥ryewng acujunting estinkgtes for btases. designing audit prcredures over income. rwewing regulatory correswKlertt with the Ch• C(wnrnission WKI reading minut8s of meetings of ttr¥)se dwrged with g)vemanr£. Pag8 1
UNrrED UTIUTIES TrUST FUND (A ¢omp•ny Ilmlted by quarnntee) INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF UNrrED UTILrriES TRUST FUND (CONTINLIED) ng to Ihe inherent Wmi181iC of eft aud¢ Ihere is an un8vokI8ble risk Ih8t may not have detected some materi81 mi&qtatements in the financial statements. ewi though we have yoperly planned and perfonned our audll in accordance vAth audthng stsrwjwds. For example. the fvrther removed -CoMplIance 1h laws and regulan$ {irregularitie$) is from the events and transadions reneded in the financial stat8rngnts. the less Ilkely inherenlty limited procdures required by auditing standards tyjentrfy L In addition. as wth any 3udil, there remained a higher rtsk of nOrdeteOn of irwularlties. as these may invojve collusion, forgery, Intentional omissions. misrepresentaticffis. or the overrKle of intemal controls. We are ncl responsible for preventing n- cornpliance and cannot bè to detect I-(mEIanr wilh all laws and regulatIc$. A lurther desup11 of our reswtsiblibes for the audit of the fwn(ial slatements is located on the FInaal ReportirwJ Councll trAlte at: w¥w.fro .uklaudknr5 nsiMli118& TS déSCrfpti forms part of our Auditorfs reporL Use of our report report is made solelyto the raritsbk corrwanrfs Memlr5. a5 a body. in 8ccordance th Chaptsr 3 of Part 16 of the Cornpanie5 Act 2006. Our 8udil vth has bBen undwtsken so that mkJht state to the charitsble compan$ memtors those m8ttefS w are rewired to stale b) Ihem in an Audkn¢s repx)rt and for no other purpose. To the fullest extent pemiitt&Y by Jaw. we do not accept or assLtrr* responsibilty to anytyie other than the chorilable cornpony and its members. as a t. for c4Jr this report. or for the oplni¢)ns we ave fonned. K•rry Brown {Sonlor •tslUtory audltor) forand On behalf of Crow• U.K. LLP Stsiutory Auditor Blad( cntry Ho Rounds Green Rood Oldbury West Midlarxls B69 2DG Date.. 22 September 2022 Page 11
UNITED UMITIES TRUST FUNO (A c¢)mpany Ilmlted by guarantee) STATEMENT OF FINANCIAL ACTMTIES (INCORPORATING INCOME AND EXPENDrruRE ACCOUNn FOR THE YEAR ENDED 31 MARCH 2022 Unrostrlctsd nd¥ 2022 Restrfcted fund$ 2022 Total funds 2022 Total fundg 2021 In¢om• from: Dcfjations & Grants Investrnents 3AOO.OOD 3.240 3.503.240 3.770.988 192 Totsl Incom• 3.500.05S 3.240 3,503295 3.771,180 EXporlture on: Grants payable 3.495.138 274228 1769.366 3.453,444 Totsl oxp•ndllur• 3.495.138 27V28 3.769.386 3,453.444 N•t mov*ment In lunds 4917 (270.988) (266.071) 317.736 Roeonclllatlon of fund$: Tolal fvnds brciugm f(rward Net movement in funds 318.253 4.917 270.988 1270.988) 589,241 1266.071) 271,505 317.736 Tolal funds rIod forward 323,170 323.170 589,241 The noies on pagès 15 to 23 fomi part of these finandal staterneiits. Page 12
UNITED LMLMES TRUST FUND (A company limited by guarantee) REGISTERED NUMBER: 05309512 BALANCE SHEEr AS AT 31 MARCH 2022 2022 2021 Cash al bank ar in haTr 357.374 614.&37 Credilors.. amounls faming tkn within o year 11 (M204} (25.296) N•t curront ass8ts 323,170 589.241 Charity funds Restried funds Unrestricte¢l fvnds 270,988 314253 323.170 Tofol funds 323,170 589,241 Th* Trnstses ackno¥Aedge thwr rosponsilIt18S for D)mp1w vAlh Ih8 rnquyernents of thg Act with rgspoct to accwnting rewrds and preparatK•n ol financAal seThnts. The financial ststements have been prepared in act0rd8r WTth the W<Y¥rysions appllcable to entit subject to th& small compantes regime. Th• financial statwnents apwoved and aUrI1 for issue byth8 Tr and 5ignad ¢)n IheSr behalf by. Mrs Doborah Morton Chair of Truslee5 The notes page¥ 15 to 23 fcvrn part of Ihese finandal statem. Page 13
UNrrED UTIUTIES TRUST FUND {A company Ilmlled by guar4nte¢) STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 PAARCH 2022 2022 2021 Cash flows from optratlng actlviti•s Nel ea6h used In operating activibes 14 (257218) 318,152 Cash flows from Inv¢stOng #ctivh1é5 Divkdends. interests arnj rents from in¥e5trrEnts 192 N•t ¢ash provid•d by Inv•sltng acllvltl 55 192 Chang• in and ¢qur¥alarrts in the year Cash and cash equlvaknts at thè beginnKng ofthe ar (257,1631 614.537 318.344 296.193 Cash and cash equlval•nts at Ihe •nd of the ye 15 357.374 614,53T The notes on pages 15 10 23 form pwt of tlwe financial statsments Page 14
UNrrED UTIUYIES TRUST FUND
(A ¢wipany limllod ty guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022
General Inlonnatlon
Unlled Ulililes TnJsl Fund is a reg6tered tharity number 1108296. a Cc¥npany Limitsd by Guarartee and
registered in En9land (registered nurnber 05309512). The registered Offi and prinupal place of buslness
is 12-14 MIN Stree( Sutton Coldfidd. West Midlands. B72 1TJ.
The rnernbets of the tharity are the TStee5 n8med M p8ge 1. In the event of the chary bery vKwrKI
up, the liatslity in respect of the guarantee is limiled to £1 per member of the charity.
A¢¢owrtlng poll¢l•s
2.1 8•sls of preParnt1¢ of IlnaKlal Statements
The ffinano81 ststements have been wepared in aCrdance with th8 Charilios SORP (FRS 1021-
Aco)untiry and RerKJrling by charlS. Statemènt af Recommended Practice applicable chaiities
prepèrfng thelr acLounts In aCranCe wlh the Flnanclal Reportlng Stsndard applicable in th8 UK
and Republic of Ireland {FRS 102) leffectbve 1 January 2015), the Fina101 Reporting Standard
applicable n the UK arwj Repubk ef IrelpA IFRS 102) and Ihe Companles Act 2006.
United Ulilities Trust Fun(J meets the definition ol a pUbC benefit entty urnler FRS 102. Assats and
labilib'es are inrtiglty rec))gnised 8t hisknical cosl transaction value unf8ss ¢trise slated in tha
ravant accounting pjlicy.
22 Going concern
Tha Trustees cMsid8r tw hav• suffici8nt rès8Nes aThJ cash to o)nlinue opernliro on a gn9
concem basLs for the foreseeable frjture.
As stst&Y In the Trusie8'8 Rerth. Tnle8S belleve there are no materfal UnrtaIr*IeS thal call into
doubt the Charitys abilty to IntinUe as a going nCeM and the ac
UNITED UTILITIES TRUST FUND (A eofflpany Ilmitsd by guarnntee NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 A¢countlng pol1cl (¢onllnu•d) 2A Exptndltur• Expenditure is reccrfjnised there is a al or construcllve obligation to transfer economic benefit to a thir¢J party, it is probab that a transfer of 8raNmi¢ benefits be required in settlement and Ihe arnnt Lrf Ihe obligal¥)n can be measured lialy. ExpenditiJre is elas$ffjd by actiwty. The sts of each activty are made of costs that ¢2n be albcat8d diredly and those of an indirect natur8 necessary to supF(#1 them. SupFKt (x)sts vjhith are not attributab to a siThJbe activity are appc¥tioned t¢Nveen those acliMies on a basis c4MSi8tent wlith the use of resources. GovemarKe costs inckKle those ¢>Jsts asseoated Ihe ¢rt81 and requirements of the Charity arKI inclLJ8 audit fees and costs linka(I lo the stratogic management of the charity. SuppcKI costs are those costs supp¢wt of expenditure on the oL4'ect$ of the company. Giant awards We acwunted for 8$ expendilure as •$ 8 valid exp8etati h8$ bèen (mmUnted to the reupient. unless the offer is CA)nditnal upon events outside the TTUSt's conlrol and rt is possible biA prob8bk Ihat an oufflow of e9)nOm benefits VAII arise. in v4hich case such amounts are recognised as continwt Ilabilti6s until grant condifions are fulfilled. 2.5 Fund accountlng General funds 8fe unrestricfed ItKx15 are available lor usè at the dixretion of Ihe TnJstee$ In furtherance ol the genwal otyectives of the ccffipany and have not teen designated for other Designated lunds comprtse unr•strict8d funds that hav• been sel aside by the TnJsiees lor partitsJlar purposes. The aim and use of each ¢Jwn&ed knd is set in the Tr)te8 to the financial statements. Restlicted funds we funds are to be used accordance speiific reslri¢tions imrosgd by or which have b86n raisod by the company for particutar purpose5. The costs of raising and administering SUL funds are charged aganst the ¥lac furKJ. The am arKI ¥se of e8th restricted fund is sel out in the notes to the financial statements. 16 T•tIon The organisation is a rEgistered charity and as SLth Is exempt from Lation on its incorne and 98WIS to the extent that they are applied for its tharItsb wrFoses. 17 Cash at bank and In hand C8sh at bank and in hand cash and sh¢yl.temi h&htyJ4uid investrnents wilh 8 sPM)rt rnaturity of thffje months or I$ from the dats of acquisition orop8nir#J ollhe deposit or sirnil8r account. 2J Flnancial InslrnmentsF The cMpanY onty has finana81 assets aThl finanraal labl1rt of 8 knnd that qlllfy as baslc financlal instnjments. Basic flnandal InStrunts are inTbalty recognrsed at transackn va8 and subsequenuy rneasured at thelr settlement value. Page 16
UNrrED IMUTIES TRUST FUND (A company Mmlted by 9uarant¢e) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 Income from donations Unr•strl¢t•d RMtrl¢tod lund$ funds 2022 2022 Total funds 2022 Don8tions from uned Grnnts 3.5cM).(N1 .000 3.240 3.500.¢ 3.240 3,503,240 Unresti7Ct8d Resfryded fund 2021 Total funds 2021 2021 Dort)S from United Utilities (¥ants 3,5.(4X} 3.500.000 270,988 270,988 3.500,IJCtI 270,988 3.770.988 Inv•stment Income Unrestrfcted fundg 2022 Totsl fvnds 2022 55 Tt*al fimds 2021 funds 20 Investment In(x)me 192 192 Page 17
UNITED UTIUTIES TRUST FUND IA MpanY Iwnited by guaranle•l NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 Grants payable Payabte to indwidual beneficiarie5 or direct to credrtor5 in ospect of deb15 owed-. 2022 2021 Grants payable Water debt- United utile$ Water Pk White goods and other k)L¢ehold needs Bankruptcy orders Debt Relief Order 2.729.987 113,188 17.680 14.490 300 2, 729.884 99.466 42.110 7.645 Funeral ¢osts 2.875.645 2.879,105 Grants pay•b- Organisalion•l grants Crtizens Ad¥e Haifon Citizens AdM¢e Pf¢$ton Liverpc(Jl Communty Advice The Oaks @ Blackbum Foodbank Insbtute ol Money Advwrs 31,343 26.250 31.649 22,100 5,918 15.073 13. 126 9,239 71,050 3.380 117.260 51.868 Redress Funding Em•rg*n¢y Fuel 240,100 Total Gr4nts payabl• 3.233.005 2.930.973 . It is the policy of the Trustees that wherever poSsf0 a beneficia$ wll be paid direct to the relevant Creditor. Page18
UNrrED UTILITIES TRUST FUND (Acampany Ilmlled by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AIARCH 2022 Analysis of exp8ndilure by aGtivltlos Grant und•rtaken fvndlng of dlrecity actSvllle8 2022 2022 Support Costs 2022 Trtal nds 2022 Grant makirwJ 516.557 3233,(K15 19.804 3.769.366 Grnnl YKlertaken funding ol Supwl costs 2021 Total 2021 2021 2021 Grant making 504.107 2.930.973 18.364 3,453,H4 Dtrect ¢¢)sts 2022 ALwlg8 admini$tratth &twges 516.557 504,107 Support Msts 2022 2021 Insurance 2.943 6.000 471 10,390 2,942 Bonk charges Go¥nance costs 422 19,804 18.364 P8ge 19
UNrrED UTILITIES TRUST FUND (A cary)•ny limit•d by guar•rtt•e) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 P4ARCH 2022 Auditorfs rernuMratioD The auditors remunération amcwnts to an audrtLY feè of £6.825 {2021- £6.52S). 10. Tntstees. remuneratton and related party transactlon During the year, no Trustees received arry reThrnrati¢Jn tr her benefts (2021- £NIL). Jring the yèar ended 31 Marth 2022. no expenses vme rMbul0d to Tnee3 (2021- £nill. No Trustee or person relaled to the charity had pafEc* intwest in any corrtract or transaclion ent8red into by the tharity during the pwityj. 11. Credltorn: Amounts lalling due within one year 2022 2021 Trnde CTeditrys Accruats 14503 17.701 5.168 20,128 4204 25.296 Pa9e 20
UNITED UTIUTIES TRUST FUND IA Company lkntt•d by guardnW} NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 12. Sunwnary offunds Surnmary of funds- currenl y•ar B•lance at 31 March 2022 BalanGg al I April 2021 Transf¢ Inlout Deslgnated fulS Goneral funds R•sth¢t•d furrtls e6.191 (117360) 106,821 251062 1500,055 (1377,878) {106,821) 270.9 (274228 752 267,418 589.241 3,$03295 709,366 324170 SLthim•ry of fvnd8 . prior year 8818nce al 31 Mor¢h 2021 Balanc8 at Translers i0 Dasignatad fvr#ts General funds R¢stri&ad funds fQ604 260.901 (51.868J 107,455 3.5(W, 192 (3,401,576) (107.455J 270.988 66,191 252.062 270,988 271.505 3.771, 180 (3.453,444) 589,241 OMlgn•t•d Fwmls Deslgnated Funds rewesents amcyjrts desbgnated by the Trust$ to med the lutsjre c4* of the provision of Or98nisation Grarts. A tsansfer was made frcAn Ihe general to the reswrc4s expended from designated fund5. Rmtrlcted Funds Restn'cied Funds represents amounts rdating 10 5peafic tmiects as stated ty the furyJlrvJ agreom&nt. and a8 8uth ran only be for this wpose. Page 21
UNrrED UTIUTIES TRUST FUND IA compary lkntted by 9arante• NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENOED 31 MARCH 2022 11 Analysls of not ass•ts b•llon lundg Analysls of not amets betw•en funds - ¢urrent y•ar unrn5tried funds 2022 Total funds 2022 Currenl assets 357.374 (34.2041 357,374 {34204) Craditors due %wllin one sur Tot¥1 323.170 323,170 atysls of n•t a•ts b•twe•n funds . prfor yèar unsInc18d Reslricled funds fvnds 2027 2021 Total fvnds 2021 Current assets Cfedilors due tmthin one svr 343.549 (25.296) 2TO,988 614.537 (25.296J Total 318.253 270.988 589,241 1& R•ncili*t1on of n•t movem•nt th funds to n•t ¢ash optrnilng •dlthl•s 2022 2021 Nel incomelexperrfliluwe for the Jear (as Statement d Financyal Activities) {2K071) 317.736 Adjustments for. Di¥ends. iniefests and rents from investnents In¢rease in cxediiors 155) 908 (192) Net c•sh provld•d byl(used In) operatlng aetlvltles (257218) 318.152 Pagè 22
UNrrED UTIUTIES TRUST FUNO {A c¢fflp•ny lirnlt•d by gurnnts•) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 1& Analysls of ¢ash and ¢ash •guival•nts 2022 2021 Cash in hand 357.374 614,$37 Total cash and ¢asb equlv4lents 357.374 614,7 16. An116 of changes In net d•bt At 1 April 2021 Cash flows At 31 AlorGh 2022 Cash at b8nk and In harrfl 614.5J7 {257,163) 3SI.374 f 7. There have bBen no relatad paty tranSathr that rnouire di5cwre. Page 23