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 #230 1 UMrrED ununES TRUST FUND {Acompany lThfted by quarnntee) COIITENTS Page R•fer•n￿ and •dministrati¥• detsils of th• ￿m￿Thy. its Trustees and advi8er6 Trustees. report Tru6te•s' r•spon$lbllfties stat4m•nt Independenl audllofs r•port ￿ the IlThan¢lal $14tements Stat•ment of financlal acti¥tties 8-11 12 Balanc• shoot 13 St•t•m•nt of ush IIOWB 14 Notes to th• flnanclal slatements 15-23 UNITED LITILMES TRUST FUND {A com￿nY Ilmlted by guarantee) REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY. ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 MARCH 2022 Trust90$ 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) coM￿nY r•gist•r•d numb•r 05309512 Charlty re9lslered numb•r 1108296 Re9lster¢d offl¢e and prlnclpal addr￿8 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 manag￿￿nt 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 er￿ded 31 Marth 2022. ctu Go ndm m•nl Govemin Th8 ￿ganIsatIon is a charitable company limited by guarantee. irFc4Jrporaled on 9 De￿mber 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 w*￿e help is to b8 provitled. Trustees have wjbsequentty been app*￿ted followng public athrtisement. A list of Trustee8 who governed in the year can be fowKI cffi p￿e 1. Trusteè Ind trainin 8efore anyon8 considers saBknng 8wnlmenl as a Trustee, as W of the indudton process. they 8re expected to f￿nilla￿se 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 periodi￿lly 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 a￿1 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 dort￿n5 4re r￿1Ved from United Ull￿e$ 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 d￿atSun of £3.5m Is guaranteed for the n8xt year 12022r20231. The Tn￿tee$ have c*)nEidered the conlinued I￿PaCt on Ihe pM(ypal risks of Covié>19. The Tru*ees 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 C￿tinUe 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 liabilit￿5 lo the dlarty r￿Uld be affected by th￿￿19. 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 cl￿t[nUe to operate as norrnal wh8n all employees moved to hCfflewo￿irvj 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 r￿rt 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 SeTh￿s Lirrwteo act on t*half of Trustees uThJer an approvod S¢herr* of Delègation. The Trustees do 8mpby sl811 dir*Xly 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 de*ated 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 reV￿ryny perfornwnce against th& budget and actmty projedions: to prepare and present to Tr￿188$ the aLKlit Flan, to revw the draft ￿nUal acc¥)unts and the 8￿j11 rew¢ for tsir approval.. to ensure ihe charfty rs complyng all aspe¢*s olthe law. relevant re￿atiOnS 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 gcear. 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 rel￿f 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 0￿pIe￿ by Ihem by United Utilities as water andlor sewerage undettskèr appointed pursuant to the Water Industry Act 1991 (or any stsbJtory mcx1ffi(*t￿In 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 el￿aIble 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 8F*￿￿tle. In pursuit of ch8ritsble oblecw. the Tnjsl was *Ao to ward grants lo indNiduais tthvards waler and othèr pri￿lty costs. Grant pa￿ents 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 a￿StanC￿ to 3,759 (2021- 3.788) itmlividuals orfamilies affl¢yJnting to £2075.64512021- £2.879.1Cfj). In Marth 2021 the Charity receiv￿1 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 experier￿ng 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 Sp￿a￿Se in provlding delrt and money advice seryices that are focus￿1 on speuk grou￿ Ofpeop￿. Page 4 UNITED LMUTIES TRUST FUND (A￿MpanY 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 e￿UrE 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 reqUi￿rnents whith may not be covered by inccffling resowces. At the end of Ihe p8rir*Y totsl lund5 (rf £323.170 (2021 - £318,253) ropresent un￿sIr￿ted 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 appr￿T101e target for the Trust's generaf. unrestricaed reserves Sh￿j1¢j remain at apFYoximately £200,(KKJ. Th8 r058rves pdicy be agan during 2022.23. After considering the ContinL￿d 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 Tru*ees F#xr lo thi￿*1 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 Con￿derernpanY8 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 Tn￿le8S Dats.. 2 2. og Page 6 UNrrED UTILMES TRUST FUND (A ¢omparty Iwnlted by gu￿￿te*) 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 h￿th 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£C￿n11n9 policAes and then ¥tty them c(￿Sten￿￿. cther¥e the methods and prirKip4es ofthe char￿8$ Sl)RP IFRS 102)" make jutjgments and 8CClyJnts"r￿ estimates that a￿ reasonable and prudent,. state whether 8pplicatAe UK Acc%￿ntir￿j Stsndards (FRS 102) have be8n folbA•d. subiecl lo any material depariures disclosed and expla￿ed 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 Tn￿ee¥ are responsible for keeplng adeffjth 8c£rxrfrwJ record$ Ihat are ￿rffiCient to show and explaln the companl$ tranSaCtior￿ 8rKI disclc6e wllh reasonal)le ac￿T8¢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 c￿anY 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 aCr￿Unting 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￿ thefft￿nCiaI 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¢q￿￿ments of the C￿pa￿eS 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 requIreMe￿ts. We beleve that ts aEKtht 8￿denc4 wg have obtained is suffiwnt art(1 appro￿at¢ to pro¥idfj a l)asi$ ¢yJr op*iion. Concluslons r•latSng to going conc•rn In audiling the finanual slatemeTrt5, haTr•* ¢ondLFded that the T￿tea6, usa of the going ccmcem basls of ac4)ynb"ng in the pyeparation ol tr* financial statements is appropTi*8. Based on the ¥￿ have Ferforrned, we haTr*t Thjt idèntif*d 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 wpOnsi￿lE￿8S and the ￿sports1*￿￿tjes 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￿ ￿m￿lse$ the Infom￿1￿ I￿luded in the Annual rwt cts than the 11n8n￿l statements our Auditots report thereon. Th¢ Tn￿teeS are resw)nsible for the other lnfomab.on Cl￿181￿ wthin the Annual report. Our opinion on ts financial statements tloes not ￿Ver the other irfornwli(In and, except to the extent olherwse eXp￿CItlY stated in our reprt do not express any form of assurance ￿n￿￿￿on thereon. Our reSp￿sibility is to read the other information and. in doir4 so. consider vknethfjr the other information is maleriamy inconsistent W￿th the finaftaal statemenls or our kr*Th￿ge obtaIr￿ in the c(yurse ot the audiL or 0th8rnvise appears to ba materth missL*d. 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 r*rfcvmed. 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 InfWn*iC￿ gNen kn the Tn￿tees. Re￿rt fly the fi￿[ for fingnrial statsments ere prepared is *JXSiStsnt with the financial st8temen the TNsttts' Raptyt hes been prepar&1 in acc￿d￿ *ith appli￿b￿ legal requlrements. Matters ¢)n whlch Tme ar• rèoulred to report by ￿e+pl In tho Ight of our k￿￿￿et identsffied matertal MISState￿nts in Trustees. R8PCrft. We have nothi￿ 10 reptsi in respect of Ihe f¢kn4WIg matters in ￿knt￿)n to Companies Act 2006 reqwreg us to report to >YJu rf. in our opin￿n. adequate acL¥)unYng records have Tr)t been kept. or retums &Jequate for ¢)JT have not been recaved from branches Vi￿d byus: Iho financSal ststernents are not in agTfj￿t wllh ac(￿untIl¥j rBaJrds and relums; c*rtain disdc6ures 0fTrt￿. remuneration spaThr￿ by law ar8 not mado., or we have not r￿1Ved all the Infom￿1￿ and exFAanaIi￿S we require for our autht,. or the Tnjstees ￿re rMIt entiued to prepare the fina￿al stalements in accordance with the sm8110)mpanieg regirna arKI tskg advantag¢ ol Ihe small companies. exèffwtions in weparing the Twst88s' R8P(xt and from the requwthnent to K*epar8 a Strdtegic Report Page g 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' yespms￿1lI1i￿ 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 reS￿n￿ble for assessing the charilable cAYnpan￿S abllity lo continue as a going concem. disdosing. a5 a￿lcable. 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$1￿ altemaiive tsJl ￿ do so. Audltorfs reSP￿SIbIlItIeS forlhe audm of the flnan¢lal stat¢ments Our are lo ¢Jbtain reasonable assur¥nr* about wlther Ihe ffinanoal ststements as • whole are free from material misstaternenl. whether lo fraLMJ or eTTCW. to issue an Auditorfs report that includes our opinion. Reason8ble assuran¢e is 8 high level crf 8$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 Statem￿ts. Irrggul8rilw inc4uding fraud. a￿ instan￿$ of Th)nrfrynplrart• and re9ulalions. Wo deswJn prO￿dUreS 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(￿ed￿re$ are wabl8 of detec*w irragularfts"05. I￿uding 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 TeJAath￿S 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 ￿)n￿dered in this C1￿1e￿ for the UK operalbns were ￿er81 Data Protection Rwjlation (GDPR). Emttynent legisk4iK)n atvj Taxatlon leoislation. Audilin9 Sta￿￿a￿lS 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 tr￿1r own idantificaiion afyj assessmant of the risks of iffegularitsas, sample lesting on the pos(tng of 1￿MalS, 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 regula￿n$ {irregularitie$) is from the events and transadions reneded in the financial stat8rngnts. the less Ilkely inherenlty limited proc*dures required by auditing standards tyjentrfy L In addition. as wth any 3udil, there remained a higher rtsk of nOr￿dete￿On of irwularlties. as these may invojve collusion, forgery, Intentional omissions. misrepresentaticffis. or the overrKle of intemal controls. We are ncl responsible for preventing n￿- cornpliance and cannot bè to detect I￿￿-(￿mE￿Ianr￿ wilh all laws and regulatIc￿$. A lurther desup11￿ of our reswtsiblibes for the audit of the fw*n(ial slatements is located on the FIna￿al ReportirwJ Councll* **trAlte at: w¥w.fro .uklaudknr5 nsiMli118& T￿S déSCrfpti￿ forms part of our Auditorfs reporL Use of our report report is made solelyto the r*aritsbk corrwanrfs Meml￿r5. 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( c￿ntry 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 EXpor￿lture 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$: Tolal fvnds brciugm f(rward Net movement in funds 318.253 4.917 270.988 1270.988) 589,241 1266.071) 271,505 317.736 Tolal funds ￿rIod forward 323,170 323.170 589,241 The noies on pagès 15 to 23 fomi part of these finandal staterneiits. Page 12 UNITED LMLMES TRUST FUND (A company limited by guarantee) REGISTERED NUMBER: 05309512 BALANCE SHEEr AS AT 31 MARCH 2022 2022 2021 Cash al bank ar￿ in haTr 357.374 614.&37 Credilors.. amounls faming tkn within o year 11 (M204} (25.296) N•t curront ass8ts 323,170 589.241 Charity funds Restri￿ed funds Unrestricte¢l fvnds 270,988 314253 323.170 Tofol funds 323,170 589,241 Th* Trnstses ackno¥Aedge thwr rosponsi￿lIt18S for D)mp1w￿ vAlh Ih8 rnquyernents of thg Act with rgspoct to accwnting rewrds and preparatK•n ol financAal s￿￿eThnts. The financial ststements have been prepared in act0rd8r￿ WTth the WJrne is rece￿￿1. the inccffie 15 accrued. Page 15 UNITED UTILITIES TRUST FUND (A eofflpany Ilmitsd by guarnntee NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 A¢countlng pol1cl￿ (¢onllnu•d) 2A Exptndltur• Expenditure is reccrfjnised there is a *al or construcllve obligation to transfer economic benefit to a thir¢J party, it is probab* that a transfer of 8raN￿mi¢ benefits be required in settlement and Ihe arn￿nt Lrf Ihe obligal¥)n can be measured ￿lia￿ly. ExpenditiJre is elas$ffj￿d 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. SupFK*t (x)sts vjhith are not attributab￿ to a siThJbe activity are appc¥tioned t¢Nveen those acli*Mies on a basis c4MSi8tent wlith the use of resources. GovemarKe costs inckKle those ¢>Jsts asseoated Ihe ¢￿￿rt￿81 and requirements of the Charity arKI inclL*J8 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 (￿mmUn￿ted to the reupient. unless the offer is CA)ndit￿nal 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 L￿ation 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 c￿MpanY onty has finana81 assets aThl finanraal labl1rt￿ of 8 knnd that ql￿llfy as baslc financlal instnjments. Basic flnandal InStru￿nts are inTbalty recognrsed at transackn va￿8 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 un￿ed Grnnts 3.5cM).(￿N1 .000 3.240 3.500.¢ 3.240 3,503,240 Unresti7Ct8d Resfryded fund 2021 Total funds 2021 2021 Dor￿t￿)￿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 util￿e$ 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 reTh￿rnrati¢Jn tr ￿her benefts (2021- £NIL). Jring the yèar ended 31 Marth 2022. no expenses vme r￿Mbul￿0d to Tn￿ee3 (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 fu￿lS 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,$03295 ￿709,366 324170 SLthim•ry of fvnd8 . prior year 8818nce al 31 Mor¢h 2021 Balanc8 at Translers i￿0 Dasignatad fvr#ts General funds R¢stri&ad funds fQ604 260.901 (51.868J 107,455 3.5(W, 192 (3,401,576) (107.455J 270.988 66,191 252.062 270,988 271.505 3.771, 180 (3.453,444) 589,241 OMlgn•t•d Fwmls Deslgnated Funds rewesents amcyjrts desbgnated by the Trust￿$ 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 9￿arante• NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENOED 31 MARCH 2022 11 Analysls of not ass•ts b•ll￿on lundg Analysls of not amets betw•en funds - ¢urrent y•ar unrn5tri￿ed 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 un￿sInc18d 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 gu*rnnts•) 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. An1￿16 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 di5c*wre. Page 23