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2020-12-31-accounts

UNITED WAY ANNUAL REPORT FOR THE YEAR ENDED 31[ST ] DECEMBER 2020 CHARITY NUMBER: 1153509

UNITED WAY

THE YEAR ENDED 31[ST] DECEMBER 2020

The Trustees present their report and financial statements, for the year ended 31[st] December 2020, for the Charitable Incorporated Organisation (CIO). The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the ch Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1[st] January 2016).

The accounts have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn.

OBJECTIVES AND ACTIVITIES

The objects of the charity are:

Public Benefit:

We are a proud member of the United Way network the largest privately funded charity in the world. Learning from and sharing networks, expertise and experience with 1,800 United Ways in over 40 countries helps us support corporate partners and communities like no other partner can.

United Way UK is part of an international movement that empowers local communities by connecting them with individuals and organisations that seek purpose and ways to support others. We are a unique and agile platform where community need meets corporate and philanthropic goals. Our work is led by the community, so that all stakeholders can work together, amplifying impact.

We believe United Way UK has a uniquely strategic focus on local community groups within the UK voluntary sector, leveraging global expertise, results and networks to reduce inequalities.

ACHIEVEMENTS AND PERFORMANCE

In spite of the challenges raised by the COVID crisis, we increased our income by 54% against 2019, with a compound growth rate of 20% since 2018, and our impact in the community (expenditure on charitable activities) by 42% with a compound growth rate of 24%.

We have now supported 91,000 people since launching in 2014, with a compound growth rate of 9% since 2018.

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During 2020, the devastating impact of the COVID-19 pandemic on communities, and in particular on disadvantaged communities, became clearer as the economic emergency resulting from sustained lockdown took effect. Equity became an ever-growing issue, with disadvantaged communities suffering the most during the crisis, and many families being pushed into unemployment, poverty and homelessness. It is estimated that the economy, together with the anticipated effects of Brexit, will shrink by 13.3% in 2021. Unemployment is set to increase from 4.8% currently to 7.5% in summer 2021 .

In light of this, we worked with our biggest partner Costco to increase community support distributing £45,000 through 30 Give Local grants; an increase of £16,000 on the previous year. We worked with new and existing partners as well as adapting the programme itself to diversify the Give Local brand, increasing the partner base from 1 to 5 and making a further 26 grants during the year, supporting 11,000 children, adults and families in total.

Our programmes also focused on supporting those most affected by the pandemic and in total we supported almost 16,000 individuals across our three pillars. 8,012 individuals were supported through health initiatives, 6,725 through education and 951 through financial support.

Volunteering was significantly affected by social distancing measures in 2020. We adapted our volunteer programme to the remote/virtual context, convening 371 volunteers to support 1,907 individuals through volunteering initiatives. 17 of these volunteers supported new and engaging Reading Oasis developments, in response to the COVID context in education.

Education remained a key priority throughout the year given the strain that was placed on children, parents and schools. We were able to safely install 4 Reading Oasis libraries, with 8,021 books distributed in total across school installations and homes, with another 10 installations planned once restrictions were lifted and this could be safely achieved. (Subsequent to the year end all 10 Reading Oases were completed safely in compliance with COVID restrictions.)

We continued to grow our partner base in 2020, working with a total of 99 partners: 20 corporate, 63 charities and 16 schools. We continued to raise our profile, securing more than 1,200 new payroll giving supporters and completing our first successful digital marketing campaign. We also began developing plans for a comprehensive marketing strategy to be scoped and funded in 2021 and launched in late 2021/early 2022.

In 2020 we continued to build efficiency. We made improvements to our impact measurement, data management and governance systems, establishing Finance and Recruitment Committees.

unrestricted reserves against our policy of 6 months. The Board has decided to defer reinvestment until the situation is clearer in order that the charity is able to continue current delivery commitments, and make the right decisions in terms of resource allocation.

successful response to the COVID emergency. Huge thanks are due to our fantastic supporters, forward to building on these strong foundations together for an exciting future in 2021 and beyond.

1 https://obr.uk/efo/economic-and-fiscal-outlook-march-2020/

2 https://www.bankofengland.co.uk/-/media/boe/files/speech/2020/the-economy-and-covid-19-looking-back-and-lookingforward-speech-by-michael-saunders.pdf?la=en&hash=028D7A5F3A8D04F69ABC37B71EB5D45CD403881F

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THE YEAR ENDED 31[ST] DECEMBER 2020

READING OASIS

Reading Oasis expanded again in 2020, with a successful fundraising event and a total of 2,288 pupils supported through the delivery of 8,021 books.

During the year, COVID restrictions affected the installation of Reading Oasis libraries. With students studying at home for most of the year, our focus moved to getting books direct to those in need. We adapted to the virtual context with programme innovations, bringing the total number of schools we worked with to 16 during the year.

We partnered with 3M for the first time on Reading Oasis, launching an adaptation of the programme called Reading At Home. This project delivered 1,847 books to 946 students from 4 schools across the UK.

"Thank you to 3M and United Way for their generous donation of books to all the children at Harbinger Primary School. Thanks to their contribution, we continue to foster an excitement and love of reading at school. The children have enjoyed sharing the books at home with their families and have even written reviews about them in school!" Harbinger Primary School

In spite of restrictions we succeeded in safely installing 4 libraries during the year and plan to install a further 10 from existing funds in 2021 when restrictions are lifted.

On 6[th] February 2020 we hosted a funding and awareness raising event for the Reading Oasis Programme. 80 guests joined us at the Rudolf Steiner concert hall for an evening of music and reading from Gwendolyn Mok and other performers. Guests were joined by pupils and teachers from Nightingale Primary School and Bell Lane Primary School. The evening raised more than £74,000 for the Reading Oasis Programme.

CORPORATE VOLUNTEERING

During 2020 much of our corporate volunteering pivoted to remote opportunities:

Spotlight on volunteering

John Deere

United Way UK has been working closely with John Deere in Nottingham and alongside two local charity partners, Hope Nottingham and Think Forward to plan and deliver a Day of Caring, creating food parcels, and a Business Mentoring scheme. The need for both projects has increased during

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THE YEAR ENDED 31[ST] DECEMBER 2020

the COVID crisis.

Foodbanks have seen a 177% increase in demand in certain areas due to rising food insecurity from school closures, job losses and panic buying. Meanwhile, young people have been learning online with many struggling to access education, resulting in them falling behind in their studies by an estimated 3 months.

An adapted Day of Caring event took place in October to support Hope Nottingham, a network of 15 foodbanks across the city that also provide further financial and social support. 16 John Deere employees volunteered at the event, with a total of 40 hours of volunteering on the day. Volunteers packed 180 food parcels, supporting 420 people across Nottingham.

part of the Day of Caring was all of it, the feeling of knowing this will help John Deere Volunteers

Business Mentoring launched in 2020. United Way UK has partnered with Think Forward to deliver this project alongside John Deere in Nottingham. John Deere employees will be joining their ongoing project as Business Mentors for 2021 and 2022.

YOUTH

Principal Financial Group

The Principal Financial Group and United Way UK partnership was launched in September 2019 to promote employability and financial literacy among disadvantaged youth in London.

During the first year of this 3-year programme, United Way UK identified and made agreements with 3 partner charities with strong local knowledge and intel on youth job readiness. Each of these partner charities, Circle Collective, Spear Harrow and Suited & Booted, has its own youth programme which delivers a different aspect of the United Way-Principal partnership, creating a unique and articulated solution to the need.

During year 1, in which many adaptations were made by all involved, to address COVID restrictions, targets were exceeded:

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THE YEAR ENDED 31[ST] DECEMBER 2020

It was a struggle to find work; I had just graduated with a degree in Forensic IT but because I had no work experience I was finding it really met Circle Collective through the Job Centre. I was nervous about joining but when I got there I started to feel at ease. The staff were friendly, and I could see they genuinely wanted to help me. I was quiet and lacking in confidence when I first joined but through the confidence building workshops, group activities and working in the shop talking to customers my self-esteem and confidence really started to g

Benga, one of the young people supported by Circle Collective, who is on the autistic spectrum.

COVID-19 Emergency Response:

In 2020, our COVID-19 Response Programme enhanced the work of 26 small, grassroots charities across the UK thanks to the support of Give Local partners, including 3M, Travelers, Cymatics and Toro Company.

Each of the charities in the partnership received a grant to amplify their relief work. Grants ranged from £1,000 to £10,000, which supported a variety of impact areas including food security, disability, mental, health, financial stability, and more.

Bringing together 3M and the charities that received a £10,000 grant through the Give Local COVID-19 Response Programme: Feeding Bristol, Woking Mind and Blooming Blossoms Trust.

COVID-19 Safety

United Way UK prioritises the safety and wellbeing of staff as they were required to work from home until further notice as of 16[th] March 2020. Staff worked from home throughout the year in line with government guidance.

All meetings were successfully held via a new Zoom package that was set up in March to ensure professional, efficient and effective meeting space. The CEO monitored the situation and advised staff regularly, through weekly video team meetings.

A staff consultation on working conditions was carried out during the summer and a list of equipment needed to ensure safe and efficient home working was developed. The Finance Committee worked with the CEO on the review and the Board approved the purchase of appropriate home offices. This process made the team more effective and the staff team raised the

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In terms of communication, United Way UK continued to consult with stakeholders and keep them updated including:

In terms of continuity, United Way UK:

FINANCIAL REVIEW

Income totalling £518,384 (2019: £336,768) was received in the year, of which £253,904 was by way of donation (2019: £155,277). Expenditure for the year totalled £424,714 (2019: £299,296) all of which was spent on charitable activities. At 31[st] December 2020 the char £396,059 (2019: £302,389) with £187,522 being restricted funds (2019: £158,287).

Risk Management:

The charity reviewed risk during 2020, covering the key aspects of our work including finance and reputation. Material risks were identified, reviewed and mitigated by the trustees and this will continue in the year ahead.

The main risks to the charity are:

  1. The ability to generate sufficient financial support to maintain operations and achieve charitable aims. This is mitigated by fundraising plans being under constant scrutiny by the board of trustees, many of whom have an experienced commercial background. There is also a shared responsibility to increase profile and funds raised across the staff and trustees.

  2. Reputation risk. As new projects and partnerships are established there is a risk that the small team becomes overstretched/overpromises and this damages the reputation of the charity to deliver. All new proposals and projects are costed with a consideration of additional resources needed.

  3. Concentration risk. This is a known risk owing to our partnership with Costco being so significant in terms of income spread. We have a detailed action plan in place, supporting the development of new and existing partnerships to diversify income streams and strengthen relationships. The Trustees are satisfied this issue is being addressed.

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THE YEAR ENDED 31[ST] DECEMBER 2020

Reserves Policy:

The trustees aim to maintain a level of reserves to establish a sustainable entity and guard against contingencies. The charity aims to hold reserves amounting to approximately 6 expenditure in the current year.

At the year end the organisation held unrestricted reserves of £208,537 (2019: £144,102) this is approximately 13.5 months (2019: 9 months ) average expenditure. The current 6 desired level is approximately £93,186 (2019: £97,182) the remaining £115,351 (2019: £46,920) is being held to finance future projects.

Plans for the Future:

The community solutions space is where United Way naturally sits, but the entire environment has changed within the COVID context. The socio-economic impact of the pandemic is, to a significant degree, setting our focus, therefore our strategy for 2021 is firmly located within the COVID context. However, given the unpredictability of the situation, the need to build in agility and optionality is stronger than ever. To support this agile approach, targets will need to generate from bottom up (project level), led by community need in line with overarching goals. Key focus areas will be approached from a holistic perspective in order to facilitate optionality overall, but specifically in the context of approaches from funding partners we will continue our policy of embracing all new funding opportunities that further our mission; this way we optimise our ability to increase reach, awareness, impact and organisation profile.

United Way UK has achieved substantial growth over the past 2 years. This growth is set to continue, though perhaps not in the way we had originally planned. We will continue to listen to those we serve and to our partners, convening solutions that optimise community resilience in these most challenging of times.

COVID has hit the most vulnerable hardest and the nature of issues that are currently devastating communities fits within our mission. Given that we want to work in the space where relevance and impact intersect, we should work to our existing strengths. This is not to rule out innovation there are some strong areas for development (for example in-house youth capability; greater focus on mental health) rather to acknowledge that in general our existing expertise addresses many of the issues arising out of the pandemic.

The areas where we can have the most relevance and greatest impact, that is, those areas of greatest need that sit most comfortably within our existing expertise, capability and mission, include:

Throughout the above areas of need, the themes of equality and equity are key. What these current environmental forces mean for United Way UK is the need to:

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THE YEAR ENDED 31[ST] DECEMBER 2020

These trends will form the framework for our 2021 strategy and to support this we have recently been awarded funding for 5 Kickstart Interns at 25 hours per week each over 6 months. We plan for this to lead to the recruitment of a new permanent member of staff to take us to 6 FTEs by 2022.

United Way UK raised £167,768 in COVID-19 response funds in 2020, £139,723 of which were restricted. Give Local partners grew from 1 to 5. We worked with 20 partners on community response and began planning to make these new relationships sustainable in the long term.

STRUCTURE, GOVERNANCE AND MANAGEMENT

United Way is a Charitable Incorporated Organisation (CIO), registered with the Charity Commission, number 1153509 and governed by its constitution dated 22[nd] August 2013. It is also known as United Way UK.

Selection, Recruitment and Appointment of New Trustees:

Trustees are elected by the members at the Annual General Meeting (AGM). Casual vacancies may be filled by co-option on condition that trustees so appointed are formally re-elected at the following AGM. New trustees are provided with induction/orientation by the Chief Executive Officer (CEO) and given the key documents of; the constitution, recent board minutes and strategic presentations.

All trustees sign a declaration to run the charity in accordance with the guidelines set out in the Charity Commission publication CC3 Responsibilities of Charity Trustees.

Management and Delegation:

The affairs of the charity are managed on a day to day basis by the CEO.

The trustees, in their power, have delegated the financial administration and accountancy to LCVS.

United Way Worldwide:

United Way is affiliated to United Way Worldwide and acts as the national body for United Way in the UK.

As a national United Way network partner, we adhere to their global standards and have agreed, amongst other criteria to adhere to the following:

Mission: Network Partner subscribes to a vision and mission that is consistent with those of United Way Worldwide:

Operations:

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THE YEAR ENDED 31[ST] DECEMBER 2020

REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY

Registered Charity Number: 1153509

Principal Office:

151, Dale Street, Liverpool L2 2AH

Trustees:

The trustees who served during the year are as follows:

Chair Mr. Steve Pappas (resigned March 2020) Ms. Melanie Czarra (Appointed March 2020, resigned August 2020) Mr. Gary von Lehmden (appointed August 2020) Secretary Mr. Ian Yates Treasurer Ms Lailany Sierra Trustees Mr. Peter Badenhuizen Ms. Melanie Czarra (resigned August 2020) Mr. Gary von Lehmden Mr. Steve Pappas Ms Kathryn Pretzel-Shiels (resigned May 2021) Mr. Neil Maffey (appointed June 2020) Mr. Nailesh Rambhal (appointed November 2020) Ms. Sue Knowles (appointed April 2021) Chief Executive: Ms. Jane Hudson-Jones Professional Advisers: Independent Examiner Mr. Peter Taaffe FCA CTA DChA BWM Chartered Accountants Castle Chambers, 43 Castle Street Liverpool L2 9SH Accountancy & Liverpool Charity and Voluntary Services (LCVS) Financial Administration 151 Dale Street, Liverpool L2 2AH

STATEMENT OF TRUSTEE

The trustees are responsible for preparing the Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

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UNITED WAY

THE YEAR ENDED 31[ST] DECEMBER 2020

The law applicable to charities in England and Wales 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 charity and of the incoming resources and application of resources of the charity for that period. In preparing these financial statements, the trustee is required to:

The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the Trust Deed. It is also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Approved by the trustees and signed on their behalf by

Gary von Lehmden Chair of Trustees

Lailany Sierra Trustee - Treasurer

Dated: August 26th, 2021

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UNITED WAY FOR THE YEAR ENDED 31[ST] DECEMBER 2020

I report to the trustees on my examination of the financial statements of United Way (the charity) for the year ended 31 December 2020.

This report is made solely to the charity's trustees, as a body, in accordance with Section 145 of the Charities Act 2011. My examination has been undertaken so that I might state to the charity's trustees those matters I am required to state to them in an Independent Examiner's report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the charity and the charity's trustees as a body, for my examination, for this report, or for the opinions I have formed.

Responsibilities and basis of report

As the trustees of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (the 2011 Act).

I report in respect of my examination of t 145 of the 2011 Act. In carrying out my examination I have followed all the applicable directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent examiner's statement

listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of the ICAEW, which is one of the listed bodies

Your attention is drawn to the fact that the charity has prepared financial statements in accordance with 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) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has now been withdrawn.

I understand that this has been done in order for financial statements to provide a true and fair view in accordance with Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

  1. accounting records were not kept in respect of the charity as required by section 130 of the 2011 Act; or

  2. the financial statements do not accord with those records; or

  3. the financial statements do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination.

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UNITED WAY FOR THE YEAR ENDED 31[ST] DECEMBER 2020

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached.

Peter Taaffe FCA CTA DChA BWM Chartered Accountants Castle Chambers 43 Castle Street Liverpool L2 9SH

Dated: .........................07.09.2021

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UNITED WAY

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31[ST] DECEMBER 2020



Notes

Income from:
Donations and legacies
3
Charitable activities
4
Total
Expenditure on:
Charitable activities
5
Total
Net (expenditure)/income / Net
movement in funds before
transfers between funds
Transfer between funds
10,11
Net income / Net movement in
funds after transfers between
funds
Reconciliation of funds:
Total funds brought forward
10,11
Total funds carried forward
9-11		 Year to 31st December 2020 Year to
Unrestricted Restricted 31st December
Funds Funds Total 2019
£ £ £ £
117,216
136,688
253,904
155,277
68,850
195,630
264,480
181,491
-------------
--------------
--------------
------------
186,066
332,318
518,384
336,768
-------------
--------------
--------------
------------
186,367
238,347
424,714
299,296
--------------
--------------
--------------
------------
186,367
238,347
424,714
299,296
--------------
--------------
--------------
------------
(301)
93,971
93,670
37,472

64,736
(64,736)
-
-
--------------
--------------
--------------
------------
64,435
29,235
93,670
37,472

144,102
158,287
302,389
264,917
--------------
--------------
--------------
------------
208,537
187,522
396,059
302,389
========
========
========
=======

The notes on pages 17 to 27 form part of these accounts.

The net movement in funds in the year was derived from the continuing activity of the charity.

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These unaudited financial statements have been subjected to independent examination. See report on pages 11 and 12.

UNITED WAY

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31[ST] DECEMBER 2020

Year to 31st December Year to 31st December 2019
Unrestricted Restricted
Notes Funds Funds Total
£ £ £
Income from:
Donations and legacies 3 95,519 59,758 155,277
Charitable activities 4 64,566 116,925 181,491
------------ ------------ ------------
Total 160,085 176,683 336,768
------------ ------------ ------------
Expenditure on:
Charitable activities 5 194,367 104,929 299,296
------------ ------------ ------------
Total 194,367 104,929 299,296
------------ ------------ ------------
Net (expenditure)/income / Net
movement in funds before (34,282) 71,754 37,472
transfers between funds
Transfer between funds 10,11 46,563 (46,563) -
------------ ------------ ------------
Net income / Net movement in
funds after transfers between 12,281 25,191 37,472
funds
Reconciliation of funds:
Total funds brought forward 10,11 131,821 133,096 264,917
------------ ------------ ------------
Total funds carried forward 9-11 144,102 158,287 302,389
======= ======= =======

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These unaudited financial statements have been subjected to independent examination. See report on pages 11 and 12.

UNITED WAY BALANCE SHEET AS AT 31[ST] DECEMBER 2020

Note 31st December 2020 31st December 2020 31st December 2019 31st December 2019
£ £ £ £
Fixed assets:
Tangible assets 6 2,738 -
Current assets:
Debtors 7 19,571 9,719
Cash balance 428,920 367,119
------------ ------------
Total current assets 448,491 376,838
Liabilities:
Creditors: amounts falling due within 8 (55,170) (74,449)
one year
------------ ------------
Net current assets 393,321 302,389
------------ ------------
Net Assets 396,059 302,389
======= =======
£ £
The funds of the charity:
Unrestricted funds 9,11 208,537 144,102
Restricted funds 9,10 187,522 158,287
------------ ------------
Total charity funds 396,059 302,389
======= =======

Approved and authorised for issue by the trustees and signed on their behalf by

Gary von Lehmden Chair of Trustees

Lailany Sierra

Dated: . August 26th, 2021

These unaudited financial statements have been subjected to independent examination. See report on pages 11 and 12.

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NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31[ST] DECEMBER 2020

1. ACCOUNTING POLICIES

Basis of Accounting

The accounts have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to these accounts. The financial statements have been prepared 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 (FRS102) (SORP FRS102) and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS102) (effective 1[st] January 2016) and Charities Act 2011.

The trust constitutes a public benefit entity as defined by FRS102.

The accounts are prepared in sterling, which is the functional currency of the Charitable Incorporated Organisation (CIO). Monetary amounts in these financial statements are rounded to the nearest £.

The CIO has taken advantage of the provisions in the SORP for Charities applying FRS102 Update Bulletin 1 not to prepare a Statement of Cash Flows.

Going concern

At the time of approving the accounts, and taking into account the impact of the Covid-19 global pandemic, the trustees have considered and have reasonable expectation that the Charitable Incorporated Organisation has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the accounts.

Fund Accounting

Restricted funds are subject to specific restrictive conditions imposed by the donor. All restricted funds are accounted for as restricted income and expenditure for the purposes is charged to the fund.

Income recognition

All income is recognised once the charity has entitlement to the income, there is sufficient certainty of receipt and so it is probable that the income will be received, and the amount of income receivable can be measured reliably.

Donations and legacies comprise donations & sundry grants and membership subscriptions which are recognised in the accounts when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably, with the exception of known legacies which are accounted for when their receipt is certain.

Income from charitable activities is recognised on an accruals basis. Grants receivable are recognised on the date on which their unconditional payment is confirmed by the donor.

Income from other trading activities relates to fundraising income and is recognised when the amount is certain.

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These unaudited financial statements have been subjected to independent examination. See report on pages 11 and 12.

UNITED WAY

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31[ST] DECEMBER 2020

Expenditure recognition

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that settlement will be required and the amount of the obligation can be measured reliably.

All expenditure is accounted for on an accruals basis. All expenses, including support costs and governance costs, are allocated or apportioned to the applicable expenditure headings in the statement of financial activities. Support and governance costs are applied to unrestricted funds unless specifically included in the restrictions, as specified by the donor.

Costs of charitable activities relate to the operation of the project comprising all management and operational overheads. Charitable activities includes grant funding to beneficiaries. These are dealt with in the Statement of Financial Activities when payment has been approved by the charity. Governance costs relate to compliance with constitutional and statutory requirements and specifically include all costs incurred by the charity in producing the Annual Report. These are dealt with in the Statement of Financial Activities when payment has been approved by the charity.

Foreign currency expenses paid for in local currency are included in the accounts at the conversion rate on the date that the reimbursement is made.

Fixed Assets

Capital expenditure over £500 is treated as a fixed asset and is written off over its useful economic life on the following basis:

Computer Equipment at the rate of 3 years straight line

Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts.

Financial instruments

instruments.

Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

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These unaudited financial statements have been subjected to independent examination. See report on pages 11 and 12.

UNITED WAY

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31[ST] DECEMBER 2020

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Derecognition of financial liabilities

discharged or cancelled.

Taxation

The charity benefits from various exemptions from taxation afforded by tax legislation and is not liable to corporation tax on income or gains falling within those exemptions. The charity is not able to recover Value Added Tax. Expenditure is recorded in the accounts inclusive of VAT.

2. CRITICAL ACCOUNTING ESTIMATES AND JUDGEMENTS

judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an on-going basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3.

DONATIONS AND LEGACIES
Unrestricted Restricted 2020 2019
Funds Funds Total Total
£ £ £ £
Donations 38,476 136,688 175,164 73,976
Grants:
Costco 78,740 - 78,740 81,301
------------ ------------ ------------ ------------
117,216 136,688 253,904 155,277
======= ======= ======= =======

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These unaudited financial statements have been subjected to independent examination. See report on pages 11 and 12.

UNITED WAY

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31[ST] DECEMBER 2020

2019
Unrestricted Restricted 2019
Funds Funds Total
£ £ £
Donations 14,218 59,758 73,976
Grants:
Costco 81,301 - 81,301
------------ ----------- ------------
95,519 59,758 155,277
======= ====== =======
4. INCOME FROM CHARITABLE ACTIVITIES
Unrestricted Restricted 2020 2019
Funds Funds Total Total
United Way in the UK £68,850 £195,630 £264,480 £181,491
====== ======= ======= ========
2019: Restricted funds £116,925, unrestricted funds £64,566.
  1. EXPENDITURE ON CHARITABLE ACTIVITIES
Direct Support &
Charitable Governance 2020 2019
Expenditure Costs Total Total
United Way in the UK £414,185 £10,529 £424,714 £299,296
======== ======== ======== ========
2020 2019
a. Analysed as follows:
£ £
Direct charitable expenditure:
Staff costs 164,577 150,950
Promotion and marketing 847 1,093
Reading Oasis direct costs 50,948 52,145
Give Local Grants * 45,000 29,000
Other grants * 128,490 -
Project delivery costs 10,821 39,345
United Way dues 3,994 6,224
Fundraising development 6,271 394
------------ ------------
410,948 279,151

These unaudited financial statements have been subjected to independent examination. See report on pages 11 and 12.

20

UNITED WAY

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31[ST] DECEMBER 2020

Continued £ £
410,948 279,151
Travel & subsistence 513 8,017
Gift aid charges 1,995 496
Bank charges and interest 561 305
Miscellaneous
168		 -
------------ ------------
414,185 287,969
------------ ------------
Support and governance costs:
Office costs 3,818 4,399
Recruitment 225 739
Staff training - 161
Volunteer expenses 40 10
Financial administration 5,000 4,460
Trustee expenses - 118
Independent examination 1,446 1,440
------------ ------------
10,529 11,327
------------ ------------
424,714 299,296
======= =======

2019: Restricted funds £104,929, unrestricted funds £194,367.

During the year there were no out of pocket expenses reimbursed to trustees (2019: £118 to 1 trustee).

2020 2019
b. Analysis of staff costs: £ £
salaries 145,740 133,906
social security 11,469 11,222
pension 7,368 5,822
------------ ------------
164,577 150,950
======= =======

c. Particulars of employees :

The average number of employees during the year was as follows:

2020 2019
Charitable activities 4.3 4.5
==== ====

This equated to 3.6 full time equivalent staff (2019: 3.5).

21

These unaudited financial statements have been subjected to independent examination. See report on pages 11 and 12.

UNITED WAY

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31[ST] DECEMBER 2020

1 employee received emoluments of £60,000 or more during the year.

No. No. Emoluments Employees Employees 2020 2019 £70,000 - £79,999 1 1

The trustees are not remunerated for their services and are not included in the above number of employees.

Grants £1,000 Grants £1,000 and over: £
5 On It Foundation 1,500
Absafe 1,500
AFC Wembley Foundation 1,500
Arc Community Space CIC 2,000
1,500
Bishops Stortford 2,000
Blooming Blossoms Trust 10,000
Browns Community Services CIC 1,500
Cannon Street Memorial Baptist Church 3,000
Chapter West Cheshire Ltd 1,500
Circle Community Ltd 6,800
DIAL South Essex 1,500
Douglas Drive Senior Citizens Association 1,500
Eyres Monsell Club for Young People 1,500
Feeding Bristol 10,000
Fenham Association of Residents 2,000
Give a Dog a Bone and an Animal Home 1,500
Herts Inclusive Theatre 3,000
Home-Start Derby 1,500
Home-Start Hillingdon 1,500
Hope Centre 1,500
Hope Nottingham 2,500
Impact Arts 10,000
Joy of Sound 3,000
Kidz Klub Leeds 1,500
Minerva Arts 3,000
Mustard Seed Autism Trust 3,500
New Heights Warren Farm Community Project 1,500
New Hope Global 5,000
Norris Green Community Alliance 1,500
NU:GEN CARE CIC 1,500
Outfit Moray 5,000
------------
96,300

22

These unaudited financial statements have been subjected to independent examination. See report on pages 11 and 12.

UNITED WAY

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31[ST] DECEMBER 2020

£
96,300
People Know How 1,500
Reading Association for the Blind 7,150
Recovery Cymru Community 1,500
Solent Youth Action 1,500
South Chingford Community Library 1,500
SPACE 1,200
Spear Harrow 6,300
Sport4Health Community Interest Company 1,500
Street Warriors UK CIC 1,500
5,000
Tamer View Community Complex Ltd 2,000
Telford Mind 3,000
The OLLIE Foundation 1,500
The Open Door Edinburgh 2,000
The River Manchester 1,500
The Suited and Booted Centre 6,040
Tiny Tims Childrens Centre 1,500
Tough Cookies Ed CIC 1,500
Townsend Youth Partnership 5,000
1,500
Wellspring Therapy and Training 3,000
West Everton Community Council 5,000
Woking Mind 10,000
Wycombe Youth Action 5,000
------------
Total grants 173,490
=======

23

These unaudited financial statements have been subjected to independent examination. See report on pages 11 and 12.

UNITED WAY

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31[ST] DECEMBER 2020

6. TANGIBLE FIXED ASSETS

TANGIBLE FIXED ASSETS
Computer
Equipment
Total
£
£
Cost
Balance at 1stJanuary 2020 1,243
1,243
Additions in the year 2,909
2,909
---------
---------
Balance at 31stDecember 2020 4,152
4,152
---------
---------
Accumulated Depreciation
Balance at 1stJanuary 2020 1,243
1,243
Charge for the year 171
171
---------
---------
Balance at 31stDecember 2020 1,414
1,414
---------
---------
Net Book Value at 31st December 2020 2,738
2,738
=====
=====
Net Book Value at 31stDecember 2019 -
-
====
====
All fixed assets are used in furtherance charitable objectives.
7. DEBTORS
2020 2019
£
 £
Prepayments 360 1,855
Other debtors 19,211 7,864
--------- ---------
19,571 9,719
===== =====
8. CREDITORS
2020 2019
£
 £
Other creditors 36,708 38,477
Accruals 18,462 35,972
----------- -----------
55,170 74,449
====== ======

24

These unaudited financial statements have been subjected to independent examination. See report on pages 11 and 12.

UNITED WAY

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31[ST] DECEMBER 2020

9. ANALYSIS OF NET ASSETS BETWEEN FUNDS

2020 Other net
current
Fixed Cash assets Total
assets balances /(liabilities) 2020
£ £ £ £
Unrestricted funds 2,738 237,712 (31,913) 208,537
------------ ------------ ------------ --------------
Restricted funds:
Reading Oasis - 66,961 922 67,883
Local Giving (Leicester) - 2,764 - 2,764
Give Local (Costco) - 83,787 (3,000) 80,787
AMEX - 17,162 - 17,162
Principal Foundation - 4,740 (4,740) -
John Deere - 6,851 - 6,851
Lenovo - Digital Future - 3,478 - 3,478
Covid Response - 8,266 - 8,266
Lenovo Month of Service - (3,253) 3,584 331
Campaigns - 452 (452) -
------------ ------------ ------------ --------------
- 191,208 (3,686) 187,522
------------ ------------ ------------ --------------
2,738 428,920 (35,599) 396,059
======= ======= ======= ========
2019
Net current
Fixed Cash assets Total
assets balances /(liabilities) 2019
£ £ £ £
Unrestricted funds - 182,093 (37,991) 144,102
------------ ------------ ------------ --------------
Restricted funds:
Reading Oasis - 56,361 2,261 58,622
Local Giving (Leicester) - 2,656 - 2,656
Give Local (Costco) - 91,303 (29,000) 62,303
AMEX - 29,767 - 29,767
Principal Foundation - 4,939 - 4,939
------------ ------------ ------------ --------------
- 185,026 (26,739) 158,287
------------ ------------ ------------ --------------
- 367,119 (64,730) 302,389
======= ======= ======= ========

25

These unaudited financial statements have been subjected to independent examination. See report on pages 11 and 12.

UNITED WAY

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31[ST] DECEMBER 2020

10.

RESTRICTED FUNDS
Transfers
Opening between Closing
Balance Income Expenditure Funds Balance
£ £ £ £ £
Reading Oasis 58,622 74,436 (49,360) (15,815) 67,883
Local Giving (Leicester) 2,656 108 - - 2,764
Give Local (Costco) 62,303 63,484 (45,000) - 80,787
AMEX 29,767 - (8,605) (4,000) 17,162
Principal Foundation 4,939 17,948 (19,140) (3,747) -
John Deere - 13,922 (2,853) (4,218) 6,851
Lenovo - Digital Future - 14,978 (10,000) (1,500) 3,478
Covid Response - 139,723 (98,083) (33,374) 8,266
Lenovo Month of Service - 7,374 (4,826) (2,217) 331
Campaigns - 345 (480) 135 -
------------ ------------ ------------ ------------ ------------
158,287 332,318 (238,347) (64,736) 187,522
======= ======= ======= ======= =======
2019
Transfer
Opening between Closing
Balance Income Expenditure Funds Balance
£ £ £ £ £
Reading Oasis 63,285 59,760 (43,633) (20,790) 58,622
Local Giving (Leicester) 2,271 385 - - 2,656
Give Local (Costco) 48,475 42,857 (29,029) - 62,303
AMEX 19,065 30,737 (9,843) (10,192) 29,767
Principal Foundation - 35,424 (14,544) (15,941) 4,939
Lenovo - 7,520 (7,880) 360 -
------------ ------------ ------------ ------------ ------------
133,096 176,683 (104,929) (46,563) 158,287
======= ======= ======= ======= =======

Reading Oasis - funds given to develop

Local Giving (Leicester) - payroll giving monies to be used in the local area.

Give Local (Costco) Payroll giving monies from Costco to fund Give Local grants.

AMEX funding received from American Express to fund Reading Oases in a number of schools.

Principal Foundation funding received to assist in promoting employability and financial literacy among disadvantaged youth in London.

John Deere monies given for support centred around 2 community impact areas: Food Insecurity and Youth Employability.

26

These unaudited financial statements have been subjected to independent examination. See report on pages 11 and 12.

UNITED WAY

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31[ST] DECEMBER 2020

11. UNRESTRICTED FUNDS

Unrestricted funds are spent or applied at the discretion of the trustees to further any of the

12. RELATED PARTIES

Steve Pappas is a trustee of United Way and is also Senior Vice President of Costco Europe. In the year Costco made a grant of £78,740 (2019: £81,301) to United Way. Steve was part of the decision making on grants but derives no benefit from United Way in return.

wd is a trustee of United Way and has made a non-recourse loan of USD$20,000 equating to £15,671. Interest is chargeable at 1% interest which is less than market rate.

Peter Badenhuizen and Gary von Lehmden, who are both trustees of United Way, made donations to the charity in the year of £1,250 and £8,898 respectively (2019: Nil).

Remuneration of key management personnel

The remuneration of key management personnel is as follows:

2020 2019
£ £
Aggregate compensation 88,904 83,874
====== ======

13. LIMITED LIABILITY OF MEMBERS

In the event of winding up, the members of the CIO have no liability to contribute to its assets and no personal responsibility for settling its debts and liabilities.

27

These unaudited financial statements have been subjected to independent examination. See report on pages 11 and 12.

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