UNITED WAY ANNUAL REPORT FOR THE YEAR ENDED 31[ST ] DECEMBER 2021 CHARITY NUMBER: 1153509
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UNITED WAY TRUSTEES’ REPORT FOR THE YEAR ENDED 31[ST] DECEMBER 2021
The Trustees present their report and financial statements, for the year ended 31[st] December 2021, 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 charity’s constitution, the Charities Act 2011 and 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 2019).
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the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn.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:
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(1) To promote the efficiency and effectiveness of charities by providing leadership, guidance and support to any charity in the UK working towards or meeting United Way membership standards.
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(2) To promote any charitable purposes and in particular, the advancement of education, the promotion of healthy lives and the support of sustainable income.
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.
The trustees have given consideration to the Charity Commission’s guidance on public benefit.
ACHIEVEMENTS AND PERFORMANCE
2021 was a year of significant growth for United Way UK. In 2020 we received emergency grants to deliver covid-19 support, increasing our revenue by 54%, and this new income level was maintained in 2021 even though these covid grants were not repeated, delivering a compound growth rate in 2021 of 15% against 9% in 2020.
This growth in income is reflected in a 9% growth in impact with almost 17,000 individuals supported in 2021 against 15,600 in 2020, and an overall total of more than 108,000 people supported by the end of 2021 since our 2014 launch.
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UNITED WAY TRUSTEES’ REPORT FOR THE YEAR ENDED 31[ST] DECEMBER 2021
Additionally a trend towards more strategic programmes continued in 2021. We developed increasing numbers of intermediate and specialist interventions, with the individuals we support being engaged over longer periods of time at a more in-depth level. By contrast more of our interventions in earlier years have been one-off, brief interventions.
Our prudent approach to finance has continued. We have made consistent efforts to keep our running costs down and applied a full cost recovery methodology to all project proposals. In this way we have been able to maintain our reserves policy of 9 months’ coverage ratio at all times.
We continued working to diversify our revenue base. COVID prevented us holding a Reading Oasis fundraising event in 2021 which reduced income for the programme significantly. As mentioned, COVID grants received in 2020 were also absent in 2021. However youth programmes increased significantly; volunteering increased also – we are very proud of this progress given most of 2021’s operations were conducted under COVID restrictions.
A major advance during the year was securing donations from 100% of our Board of Trustees during the Live United campaign in the summer. This is unprecedented for the charity and we are very proud of the achievement and grateful to our trustees for their commitment and support. Approx £90,000 was raised by Board trustees. We secured matched funding from trustee Bill O’Dowd, and from major donors Laura Khouri and Mike Hayde. Importantly, these donations were allocated to unrestricted funds for organisation development including project staffing.
Income split across programmes 2021 and 2020:
| Revenue Source | Percentage 2021 | Percentage 2020 |
|---|---|---|
| Costco | 36% | 35% |
| ReadingOasis | 7% | 18% |
| Volunteering | 9% | 7% |
| Youth Programmes | 21% | 3% |
| COVID | 1% | 35% |
| Unrestricted income | 22% | 18% |
| Kickstart Government Intern Programme |
4% | N/A |
The following summary outlines the performance and achievements of our four main programmes in 2021: Give Local , Reading Oasis , Volunteerism and Youth .
Our partnership with Costco achieved further growth through the Give Local programme :
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Payroll giving donations at Costco increased by 9%
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Community impact value at Costco increased from £30,000 to £45,000:
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UNITED WAY
TRUSTEES’ REPORT FOR THE YEAR ENDED 31[ST] DECEMBER 2021
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in previous years £1,000 was granted to 30 small charities in the communities where Costco staff live, work and raise their families; in 2021 this increased to £1,500 per grant across the UK to reflect increasing strain on vulnerable communities who have been hit hardest by economic uncertainty
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Quotes from local charities in receipt of Give Local grants in 2021:
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"Funding in a time of huge uncertainty and upheaval has been a complete blessing. It has enabled us to continue to survive and thrive, thank you!" (Ablaze Bristol)
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"The schools that we were able to help via the Give Local grant were incredibly grateful for the books and resources. One school had explained how the school is located in a deprived area with a large proportion of the children being from Minority Ethnic backgrounds. The children, being the beneficiaries, will be able to learn about racism and antiracism from age 4 and enjoy reading books that contain main characters of Colour. This will help the Children of Colour in these classrooms feel better represented and included within their learning environment." (Dive In Education)
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"A grant of this size from United Way is hugely valuable to an organisation of our size and scope. We can do a lot with that money, and it provides us with the flex to be able to be responsive to the needs of our young people." (Minerva Arts)
Activity around developing the programme has yielded results with 1 new payroll giving partnership (ITW) launching during 2021 and another 2 (Hudl and NSF) planned to launch early in 2022. This is a significant achievement because it indicates a wider and growing appetite for our award winning Give Local programme based on a payroll giving model.
United Way UK’s Volunteerism programmes also achieved growth in 2021.
In-person services resumed to a degree in 2021, but given the unpredictable nature of covid restrictions during the year, we continued to develop new and existing remote projects around volunteering.
We launched our online Let’s Read initiative and increased online youth workshops as a way to reach more young people across the UK.
Volunteering
A total of 354 volunteers took place in volunteering programmes at UWUK during the year.
| Volunteering Projects | 2020 % | 2021 % |
|---|---|---|
| in person volunteers | 223 | 173 |
| remote volunteers | 131 | 58 |
| Reading Oasis | ||
| in person volunteers | 17 | 0 |
| remote volunteers | 0 | 34 |
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UNITED WAY TRUSTEES’ REPORT FOR THE YEAR ENDED 31[ST] DECEMBER 2021
| Youth Opportunities | |||
|---|---|---|---|
| in person volunteers | 0 | 4 | |
| remote volunteers | 0 | 85 | |
| Volunteers across programmes | |||
| Total in person volunteers | 240 65% | 177 | 50% |
| Total remote volunteers | 131 35% | 177 | 50% |
| Total | 371 | 354 |
In 2021, the number of corporate partners donating staff time and skills in support of UWUK programmes increased to 12 (from 8 in 2020).
Total volunteering hours donated in 2021 was 1,437 (1,213 in 2020) at an estimated value to the community of £60,000 - 70,000.
Reading Oasis
Reading Oasis reached Scotland and Wales in 2021 in a significant development, and 11 libraries were installed in total during the year, an achievement of which we are very proud given COVID restrictions and hesitancy to return to normal activities remained in place for a large part of the year.
More than 12,000 books were distributed to the 11 schools with more than 3,200 children benefiting. Additionally, to support education for children we developed a new initiative, Let’s Read with Estee Lauder and Amex, where volunteers recorded videos of themselves reading aloud from books distributed throughout the Reading Oasis network.
UWUK has now supported almost 16,000 children with libraries installed in 47 schools by the end of the year.
Youth
Our Youth offering has grown considerably, from 3% of income in 2020 to 21% in 2021. Of the 614 young people supported by a wide range of programmes, 151 managed to secure employment, an achievement of which we are extremely proud.
Internally the charity supported 4 interns from the government’s Kickstart programme, one of whom we were able to take on as a full time staff member once the placement had concluded.
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 2021 in line with
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government guidance where appropriate and to support safety while we waited for everyone to become vaccinated.
All business was successfully conducted via Zoom and Slack, our virtual office platforms, to ensure professionalism and efficiency. The CEO monitored the situation and advised staff regularly, through weekly video team meetings.
Close observation was kept on individual employees’ working conditions to ensure all employees were supported and had all the equipment they needed. The team remained effective and sustained the growth from 2020 without the high proportion of COVID grants received that year, while continuing to work from home offices.
In terms of communication, United Way UK continued to consult with stakeholders and keep them updated including:
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providing clear instructions and reassurance around United Way UK’s actions to keep everyone safe
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having messaging ready for all scenarios – eg postponement and cancellation of events
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where appropriate, offering alternative ways for participants to support the community and participate in response initiatives
In terms of continuity, United Way UK:
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ensured continuity of existing programmes by adaptation and relationship management
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developed new partnerships
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engaged in business continuity planning where appropriate
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engaged in risk management using United Way Worldwide tools
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developed a new strategic plan for 2022-24
FINANCIAL REVIEW
Income totalling £519,087 (2020: £518,384) was received in the year, of which £270,204 was by way of donation (2020: £253,904). Expenditure for the year totalled £353,678 (2020: £424,714) all of which was spent on charitable activities. At 31[st] December 2021 the charity’s reserves stood at £561,468 (2020: £396,059) with £214,776 being restricted funds (2020: £187,522).
Risk Management:
The charity reviewed risk during 2021, 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:
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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.
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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
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UNITED WAY TRUSTEES’ REPORT FOR THE YEAR ENDED 31[ST] DECEMBER 2021
deliver. All new proposals and projects are costed with a consideration of additional resources needed and in 2022 we will begin the process of forming a dedicated freelance team.
- Concentration risk. This is a known risk owing to our partnership with Costco being so significant in terms of income spread. We are working to our action plan on this, developing new and existing partnerships to diversify income streams and strengthen relationships. The Trustees are satisfied this issue is being addressed.
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 9 months’ average expenditure in the current year, increasing the previous coverage ratio of 6 months, in order to ensure our ability to deliver under current economic uncertainties.
At the year end the organisation held unrestricted reserves of £346,692 (2020: £208,537) this is approximately 22 months’ (2020: 13.5 months’) average expenditure. The current 9 months’ average desired level is approximately £141,695 (2020: £139,775 the remaining £204,997 (2020: £68,762) is being held to finance future projects.
Plans for the Future:
We are proud of the growth we have sustained in 2021, but are looking to the future and how to build on this.
In 2021 we developed a strategic plan supported by a strategic workforce plan for 2022-24.
Our strategic plan was developed in partnership with the Q5 pop-up pro bono consultancy through workshops held with a range of stakeholders in August and September and highlights 6 strategic priorities for 2022-24 agreed by the Board in September 2021. The first 3 priorities are the ‘how’ and priorities 4-6 are the ‘what’:
1. Leverage global corporate partner relationships to extend these partnerships to the UK
- Capitalising on successful relationships in the global organisation
2. Raise our profile
- Positioning the organisation strategically and messaging effectively will lead to clear and compelling impact stories and increased funding and impact.
3. Improve evaluation and monitoring systems
- A key goal is to tell clear and compelling stories about our work to increase funding and impact. In order to do this we need to improve our impact measurement processes, systems and capability alongside building marketing capability as described in key priority 5.
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UNITED WAY TRUSTEES’ REPORT FOR THE YEAR ENDED 31[ST] DECEMBER 2021
4. Grow Reading Oasis We know that reading for pleasure is a key indicator for life success, but that disadvantaged children are the most likely to be excluded from this opportunity. Also that many children have missed vital educational stages as a result of lockdowns, and this is worse for disadvantaged children. So Reading Oasis is a key intervention for this particular community issue. We have built experience, expertise and key networks and relationships with the programme, and according to our research and knowledge through our relationships with Book Trust, National Literacy Trust, and Scholastic we are the only UK charity providing this intervention on an ongoing basis on a national scale. So far we have installed 47 libraries in UK schools.
5. Grow Give Local This is a tried and tested, successful flagship programme which can be replicated easily given the expertise, resources and experience we have developed.
6. Grow Corporate Volunteering This is a significant growth area and key entry point to new strategic relationships. Since launching the initiative in 2017 our partner base has grown from 2 to 12 and we are receiving new requests regularly. Lenovo is an excellent case in point. We began the relationship in 2017 with annual volunteering experiences for employees. We have delivered successful programmes each year and listened to the partner to understand their goals. A more strategic partnership resulted in 2019 through the Glasgow office with a $20,000 youth programme. Currently we have the opportunity to work with Lenovo on a £1M partnership blending in-kind community support with grant-making
We worked with a marketing agency, Still Curious, to develop a comprehensive marketing strategy including brand strategy and communications plan, in order that we can capitalise on the growth of the last 2 years, and increase support for our work thereby boosting our strategic plan.
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.
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UNITED WAY TRUSTEES’ REPORT FOR THE YEAR ENDED 31[ST] DECEMBER 2021
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:
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Vision: United Way envisions a world where all individuals and families achieve their human potential through education, income stability and healthy lives
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Mission: To improve lives by mobilising the caring power of communities around the world to advance the common good
Operations:
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Conducts a study of the community and evaluates pressing problems
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Engages members of the community as volunteers, donors and partners
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Mobilises resources through diverse resource development activities
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Applies resources where they will be used effectively to strengthen communities and improve lives
Verifies the use and the impact of resources invested in the community system citizenship: Provide financial and other resources to support capacity building and the network
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UNITED WAY TRUSTEES’ REPORT FOR THE YEAR ENDED 31[ST] DECEMBER 2021
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. Gary von Lehmden Secretary Mr. Ian Yates Treasurer Mr. Peter Badenhuizen Trustees Ms Lailany Sierra Mr. William O’Dowd Mr. Steve Pappas Ms Kathryn Pretzel-Shiels (Resigned in June 2021) Mr. Neil Maffey Mr. Nailesh Rambhal Mr. Francesco Vanni D’Archirafi (appointed September 2021) Ms. Sue Knowles (appointed April 2021) Chief Executive: Ms. Jane Hudson-Jones
Professional Advisers:
Auditors BWM Tempest, Suite 5.1, 12 Tithebarn Street, Liverpool L2 2DT
Accountancy & Liverpool Charity and Voluntary Services (LCVS) Financial Administration 151 Dale Street, Liverpool L2 2AH
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UNITED WAY STATEMENT OF TRUSTEES’ RESPONSIBILITY
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).
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:
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Select suitable accounting policies and then apply them consistently;
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Observe the methods and principles in the Charities SORP
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Make judgements and estimates that are reasonable and prudent;
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State whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
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Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue to operate.
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
Peter Badenhuizen Trustee - Treasurer
Dated: 12 September 2022
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UNITED WAY INDEPENDENT AUDITOR’S REPORT TO THE TRUSTEES OF UNITED WAY
Opinion
We have audited the financial statements of United Way (the ‘charity’) for the year ended 31 December 2021 which comprise the statement of financial activities, the balance sheet, the statement of cash flows and the notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).
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In our opinion, the financial statements:
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give a true and fair view of the state of the charity’s affairs as at 31 December 2021 and of its incoming resources and application of resources, for the year then ended;
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have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
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have been prepared in accordance with the requirements of the Charities Act 2011.
Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Conclusions relating to going concern
In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.
Other information
The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The trustees are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such
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UNITED WAY INDEPENDENT AUDITOR’S REPORT TO THE TRUSTEES OF UNITED WAY
material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard
Matters on which we are required to report by exception
We have nothing to report in respect of the following matters in relation to which the Charities (Accounts and Reports) Regulations 2008 require us to report to you if, in our opinion:
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the information given in the financial statements is inconsistent in any material respect with the trustees' report; or
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sufficient accounting records have not been kept; or
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the financial statements are not in agreement with the accounting records; or
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we have not received all the information and explanations we require for our audit.
Responsibilities of trustees
As explained more fully in the statement of trustees' responsibilities, the trustees are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the trustees are responsible for assessing the charity’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to cease operations, or have no realistic alternative but to do so.
Auditor's responsibilities for the audit of the financial statements
We have been appointed as auditor under section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder.
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below.
The extent to which the audit was considered capable of detecting irregularities, including fraud
Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:
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UNITED WAY
INDEPENDENT AUDITOR’S REPORT TO THE TRUSTEES OF UNITED WAY
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the engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations;
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we identified the laws and regulations applicable to the charity through discussions with trustees and other management;
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we focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the charity, including taxation legislation and data protection, anti- bribery, employment and health and safety legislation;
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we assessed the extent of compliance with the laws and regulations identified above through making enquiries of management and inspecting legal correspondence; and
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identified laws and regulations were communicated within the audit team regularly and the team remained alert to instances of non-compliance throughout the audit.
We assessed the susceptibility of the charity’s financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:
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making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud; and
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considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations.
To address the risk of fraud through management bias and override of controls, we:
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performed analytical procedures to identify any unusual or unexpected relationships;
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tested journal entries to identify unusual transactions;
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assessed whether judgements and assumptions made in determining the accounting estimates were indicative of potential bias; and
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investigated the rationale behind significant or unusual transactions
In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:
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agreeing financial statement disclosures to underlying supporting documentation;
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reading the minutes of meetings of those charged with governance; and
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enquiring of management as to actual and potential litigation and claims.
There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the trustees and other management and the inspection of regulatory and legal correspondence, if any.
Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.
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UNITED WAY INDEPENDENT AUDITOR’S REPORT TO THE TRUSTEES OF UNITED WAY
A further description of our responsibilities is available on the Financial Reporting Council’s website at: https:// www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.
Other matters
Your attention is drawn to the fact that the charity has prepared financial statements in accordance with "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 (FRS 102)" (as amended) 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.
This has been done in order for the financial statements to provide a true and fair view in accordance with current Generally Accepted Accounting Practice.
Use of our report
This report is made solely to the company’s members, as a body, in accordance with section 391 of the Companies Act 2014. Our audit work has been undertaken so that we might state to the company’s members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company’s members as a body, for our audit work, for this report, or for the opinions we have formed.
BWM
......23.10.2023...................
Chartered Accountants Statutory Auditor
Tempest Suite 5.1 12 Tithebarn Street Liverpool L2 2DT
BWM is eligible for appointment as auditor of the charity by virtue of its eligibility for appointment as auditor of a company under section 1212 of the Companies Act 2006.
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UNITED WAY STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31[ST] DECEMBER 2021
| Year to 31st December | Year to 31st December | 2021 |
Year to | ||
|---|---|---|---|---|---|
| Unrestricted | Restricted | 31st December | |||
| Notes | Funds | Funds | Total | 2020 | |
| £ | £ | £ | £ | ||
| Income from: | |||||
| Donations and legacies | 3 | 180,025 | 90,179 | 270,204 | 253,904 |
| Charitable activities | 4 | 127,076 | 121,807 | 248,883 | 264,480 |
| ------------- | -------------- | -------------- | ------------ | ||
| Total | 307,101 | 211,986 | 519,087 | 518,384 | |
| ------------- | -------------- | -------------- | ------------ | ||
| Expenditure on: | |||||
| Charitable activities | 5 | 188,926 | 164,752 | 353,678 | 424,714 |
| -------------- | -------------- | -------------- | ------------ | ||
| Total | 188,926 | 164,752 | 353,678 | 424,714 | |
| -------------- | -------------- | -------------- | ------------ | ||
| Net (expenditure)/income / Net | |||||
| movement in funds before | 118,175 | 47,234 | 165,409 | 93,670 | |
| transfers between funds | |||||
| Transfer between funds | 10,11 | 19,980 | (19,980) | - | - |
| -------------- | -------------- | -------------- | ------------ | ||
| Net income / Net movement in | |||||
| funds after transfers between | 138,155 | 27,254 | 165,409 | 93,670 | |
| funds | |||||
| Reconciliation of funds: | |||||
| Total funds brought forward | 10,11 | 208,537 | 187,522 | 396,059 | 302,389 |
| -------------- | -------------- | -------------- | ------------ | ||
| Total funds carried forward | 9-11 | 346,692 | 214,776 | 561,468 | 396,059 |
| ======== | ======== | ======== | ======= |
The notes on pages 20 to 30 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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UNITED WAY
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31[ST] DECEMBER 2021
| Year to 31st December | Year to 31st December | 2020 | ||
|---|---|---|---|---|
| Unrestricted Restricted | ||||
| Notes | Funds | Funds | Total | |
| £ | £ | £ | ||
| Income from: | ||||
| Donations and legacies | 3 | 117,216 | 136,688 | 253,904 |
| Charitable activities | 4 | 68,850 | 195,630 | 264,480 |
| ------------ | ------------ | ------------ | ||
| Total | 186,066 | 332,318 | 518,384 | |
| ------------ | ------------ | ------------ | ||
| Expenditure on: | ||||
| Charitable activities | 5 | 186,367 | 238,347 | 424,714 |
| ------------ | ------------ | ------------ | ||
| Total | 186,367 | 238,347 | 424,714 | |
| ------------ | ------------ | ------------ | ||
| Net (expenditure)/income / Net | ||||
| movement in funds before | (301) | 93,971 | 93,670 | |
| transfers between funds | ||||
| Transfer between funds | 10,11 | 64,736 |
(64,736) | - |
| ------------ | ------------ | ------------ | ||
| Net income / Net movement in | ||||
| funds after transfers between | 64,435 | 29,235 | 93,670 | |
| funds | ||||
| Reconciliation of funds: | ||||
| Total funds brought forward | 10,11 | 144,102 |
158,287 | 302,389 |
| ------------ | ------------ | ------------ | ||
| Total funds carried forward | 9-11 | 208,537 | 187,522 | 396,059 |
| ======= | ======= | ======= |
17
UNITED WAY BALANCE SHEET AS AT 31[ST] DECEMBER 2021
| Note | 31st December 2021 | 31st December 2021 | 31st December 2020 | 31st December 2020 | |
|---|---|---|---|---|---|
| £ | £ | £ | £ | ||
| Fixed assets: | |||||
| Tangible assets | 6 | 4,870 | 2,738 | ||
| Current assets: | |||||
| Debtors | 7 | 120,629 | 19,571 | ||
| Cash at bank | 484,971 | 428,920 | |||
| ------------ | ------------ | ||||
| Total current assets | 605,600 | 448,491 | |||
| Liabilities: | |||||
| Creditors: amounts falling due within | 8 | (49,002) | (55,170) | ||
| one year | |||||
| ------------ | ------------ | ||||
| Net current assets | 556,598 | 393,321 | |||
| ------------ | ------------ | ||||
| Net Assets | 561,468 | 396,059 | |||
| ======= | ======= | ||||
| £ | £ | ||||
| The funds of the charity: | |||||
| Unrestricted funds | 9,11 | 346,692 | 208,537 | ||
| Restricted funds | 9,10 | 214,776 | 187,522 | ||
| ------------ | ------------ | ||||
| Total charity funds | 561,468 | 396,059 | |||
| ======= | ======= |
Approved and authorised for issue by the trustees and signed on their behalf by
Gary von Lehmden Chair of Trustees
Peter Badenhuizen
Dated: .12 September 2022
18
UNITED WAY STATEMENT OF CASH FLOW FOR THE YEAR 31[ST] DECEMBER 2021
| Note | 31st December 2021 | 31st December 2021 | 31st December 2020 | 31st December 2020 | |
|---|---|---|---|---|---|
| Cash flows from operating activities | £ | £ | £ | £ | |
| Cash (used)/generated from operations |
12 | 59,772 | 64,710 | ||
| Investing activities | |||||
| Purchase of intangible fixed assets | - | - | |||
| Purchase of tangible fixed assets | (3,721) | (2,909) | |||
| Interest received | |||||
| ---------- | ---------- | ||||
| Net cash generated from/ (used) in investing activities |
(3,721) | (2,909) | |||
| Net cash generated from financing | |||||
| activities | - | - | |||
| ---------- | ---------- | ||||
| Net increase/(Decrease) in cash and cash equivalents |
56,051 | 61,801 | |||
| Cash and cash equivalents at beginning of year |
428,920 | 367,119 | |||
| ------------ | ------------ | ||||
| Cash and cash equivalents at end of year |
484,971 | 428,920 | |||
| ======= | ======= | ||||
| Represented by: | |||||
| 31st December 2021 | 31st | December 2020 | |||
| £ | £ | £ | £ |
||
| Cash at bank | 484,971 | 428,920 | |||
| ======= | ======= |
19
UNITED WAY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31[ST] DECEMBER 2021
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 2019 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 £.
Going concern
At the time of approving the accounts, 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
Unrestricted funds are the charity’s free reserves available for the trustees to distribute in accordance with the charity’s charitable objectives.
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.
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.
20
UNITED WAY
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31[ST] DECEMBER 2021
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 shortterm liquid investments with original maturities of three months or less, and bank overdrafts.
Financial instruments
The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial 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.
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.
21
UNITED WAY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31[ST] DECEMBER 2021
Derecognition of financial liabilities
Financial liabilities are derecognised when the charity’s contractual obligations expire or are 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
In the application of the charity’s accounting policies, the trustees are required to make 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 | |||
|---|---|---|---|---|
| 2021 | Unrestricted | Restricted | 2021 | |
| Funds | Funds | Total | ||
| £ | £ | £ | ||
| Donations | 107,032 | 90,179 | 197,211 | |
| Grants: | ||||
| Costco | 72,993 | - | 72,993 | |
| ------------ | ------------ | ------------ | ||
| 180,025 | 90,179 | 270,204 | ||
| ======= | ======= | ======= | ||
| 2020 | ||||
| Unrestricted | Restricted | 2020 | ||
| Funds | Funds | Total | ||
| £ | £ | £ | ||
| Donations | 38,476 | 136,688 | 175,164 | |
| Grants: | ||||
| Costco | 78,740 | - | 78,740 | |
| ------------ | ----------- | ------------ | ||
| 117,216 | 136,688 | 253,904 | ||
| ======= | ====== | ======= |
22
UNITED WAY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31[ST] DECEMBER 2021
- INCOME FROM CHARITABLE ACTIVITIES
| Unrestricted Restricted | 2021 | 2020 | |
|---|---|---|---|
| Funds Funds |
Total | Total | |
| United Way in the UK | £127,076 £121,807 |
£248,883 | £264,480 |
| ====== ======= |
======= | ======== | |
| 2020: Restricted funds £195,630, unrestricted funds £68,850. |
5. EXPENDITURE ON CHARITABLE ACTIVITIES
| Direct | Support & | ||||
|---|---|---|---|---|---|
| Charitable | Governance | 2021 | 2020 | ||
| Expenditure | Costs | Total | Total | ||
| United Way in the UK | £337,625 | £16,053 | £353,678 | £424,714 | |
| ======== | ======== | ======== | ======== | ||
| 2021 | 2020 | ||||
| a. | Analysed as follows: | ||||
| £ | £ | ||||
| Direct charitable expenditure: | |||||
| Staff costs | 191,448 | 164,577 | |||
| Promotion and marketing | 14,650 | 847 | |||
| Reading Oasis direct costs | 57,875 | 50,948 | |||
| Give Local Grants * | 45,000 | 45,000 | |||
| Other grants * | 9,045 | 128,490 | |||
| Project delivery costs | 17,441 | 10,821 | |||
| United Way dues | (9) | 3,994 | |||
| Fundraising development | 168 | 6,271 | |||
| Travel & subsistence | 534 | 513 | |||
| Gift aid charges | 1,122 | 1,995 | |||
| Bank charges and interest | 202 | 561 | |||
| Miscellaneous | 149 | 168 | |||
| ------------ | ------------ | ||||
| 337,625 | 414,185 | ||||
| ------------ | ------------ |
23
UNITED WAY
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31[ST] DECEMBER 2021
| Support and governance costs: | ||
|---|---|---|
| Office costs | 7,528 | 3,818 |
| Recruitment | 225 | 225 |
| Volunteer expenses | - | 40 |
| Financial administration | 5,000 | 5,000 |
| Independent examination | - | 1,446 |
| Audit | 3,300 | - |
| ------------ | ------------ | |
| 16,053 | 10,529 | |
| ------------ | ------------ | |
| 353,678 | 424,714 | |
| ======= | ======= |
2020: Restricted funds £238,347, unrestricted funds £186,367
- see note 5d for breakdown
During the year there were no out of pocket expenses reimbursed to trustees (2020: £nil)
| 2021 | 2020 | ||
|---|---|---|---|
| b. | Analysis of staff costs: | £ | £ |
| Salaries | 171,690 | 145,740 | |
| Social security | 12,309 | 11,469 | |
| Pension | 7,449 | 7,368 | |
| ------------ | ------------ | ||
| 191,448 | 164,577 | ||
| ======= | ======= |
- c. Particulars of employees :
The average number of employees during the year was as follows:
| 2021 | 2020 | |
|---|---|---|
| Charitable activities | 5 | 4.3 |
| ==== | ==== | |
| This equated to 4 full time equivalent staff (2020: 3.6). |
1 employee received emoluments of £60,000 or more during the year.
| No. | No. | |
|---|---|---|
| Emoluments | Employees | Employees |
| 2021 | 2020 | |
| £70,000 - £79,999 | 1 | 1 |
The trustees are not remunerated for their services and are not included in the above number of employees.
24
UNITED WAY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31[ST] DECEMBER 2021
- d. During the year the following grants to organisations were made:
| Organisations | £ |
|---|---|
| Ablaze Bristol | 1500 |
| Absafe SCIO | 1500 |
| DIAL South Essex | 1500 |
| Dive In Education | 1500 |
| Douglas Drive Senior Citizens association | 1500 |
| Give a dog a bone...and an animal a home | 1500 |
| Grow | 1500 |
| Headway Thames Valley | 1500 |
| Herts Young Homeless | 95 |
| Home- Start Watford and Three Rivers | 1500 |
| Impact Arts DF Prog. Grant | 1100 |
| Indian Senior Citizens Centre Manchester | 1500 |
| Ka Kits Academy CIC | 1500 |
| Leeds Baby Bank | 1500 |
| Leicestershire Leicester and Rutland Headway | 1500 |
| Making Music | 1500 |
| Minerva Arts | 1500 |
| New Beginnings | 200 |
| New Hope Global | 1500 |
| New Leaf (Derbyshire CIC) | 1500 |
| PACE Charitable Trust | 1500 |
| Riana Development Network | 1500 |
| Simpsons Special Care Babies | 1500 |
| South Chingford Community Library | 1500 |
| Southampton Children's Play Association | 1500 |
| Sports4Health CIC | 1500 |
| Stepping Stones DS | 1500 |
| Surplus to Supper | 1500 |
| Teardrops supporting your community | 1500 |
| The KAYAKS | 1500 |
| The Lewis Foundation | 1500 |
| Think Forward | 7650 |
| Tiny Tims Childrens Centre | 1500 |
| West Everton Community council | 1500 |
| ------------ | |
| Total grants | 54,045 |
| ======= |
25
UNITED WAY
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31[ST] DECEMBER 2021
6. TANGIBLE FIXED ASSETS
| ANGIBLE FIXED ASSETS | ||
|---|---|---|
| Computer | ||
| Equipment | Total | |
| £ | £ | |
| Cost | ||
| Balance at 1stJanuary 2021 | 4,152 | 4,152 |
| Additions in the year | 3,722 | 3,722 |
| --------- | --------- | |
| Balance at 31stDecember 2021 | 7,874 | 7,874 |
| --------- | --------- | |
| Accumulated Depreciation | ||
| Balance at 1stJanuary 2021 | 1,414 | 1,414 |
| Charge for the year | 1,590 | 1,590 |
| --------- | --------- | |
| Balance at 31stDecember 2021 | 3,004 | 3,004 |
| --------- | --------- | |
| Net Book Value at 31st December 2021 | 4,870 | 4,870 |
| ===== | ===== | |
| Net Book Value at 31stDecember 2020 | 2,738 | 2,738 |
| ====== | ==== |
All fixed assets are used in furtherance of the organisation’s charitable objectives.
| 7. | DEBTORS | ||
|---|---|---|---|
| 2021 | 2020 | ||
| £ |
£ | ||
| Prepayments | 360 | 360 | |
| Other debtors | 120,269 | 19,211 | |
| ----------- | --------- | ||
| 120,629 | 19,571 | ||
| ====== | ===== | ||
| 8. | CREDITORS | ||
| 2021 | 2020 | ||
| £ |
£ | ||
| Other creditors | 33,859 | 36,708 | |
| Accruals | 15,143 | 18,462 | |
| ----------- | ----------- | ||
| 49,002 | 55,170 | ||
| ====== | ====== |
26
UNITED WAY
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31[ST] DECEMBER 2021
9. ANALYSIS OF NET ASSETS BETWEEN FUNDS
| 2021 | Net current | |||
|---|---|---|---|---|
| Fixed | Cash | assets | Total | |
| assets | balances | /(liabilities) | 2021 | |
| £ | £ | £ | £ | |
| Unrestricted funds | 4,870 | 305,443 | 36,379 | 346,692 |
| ------------ | ------------ | ------------ | -------------- | |
| Restricted funds: | ||||
| Reading Oasis | - | 37,206 | - | 37,206 |
| Local Giving | - | 5,300 | - | 5,300 |
| Give Local (Costco) | - | 92,114 | - | 92,114 |
| AMEX | - | 3,600 |
- | 3,600 |
| Principal Foundation | - | - | 13,500 | 13,500 |
| John Deere | - | 9,836 | - | 9,836 |
| 3M GoSTEM | - | 24,289 | - | 24,289 |
| Covid Response | - | 600 | - | 600 |
| Lenovo Month of Service | - | 6,283 | - | 6,283 |
| Campaigns | - | 300 | - | 300 |
| Cellnex | - | - | 21,748 | 21,748 |
| ------------ | ------------ | ------------ | -------------- | |
| - | 179,528 | 35,248 | 214,776 | |
| ------------ | ------------ | ------------ | -------------- | |
| 4,870 | 484,971 | 71,627 | 561,468 | |
| ======= | ======= | ======= | ======== | |
| 2020 | ||||
| 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 | |
| ======= | ======= | ======= | ======== |
27
UNITED WAY
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31[ST] DECEMBER 2021
| 10. | RESTRICTED FUNDS | |||||
|---|---|---|---|---|---|---|
| 2021 | Transfers | |||||
| Opening | between | Closing | ||||
| Balance | Income | Expenditure | Funds | Balance | ||
| £ | £ | £ | £ | £ | ||
| Reading Oasis | 67,883 | 8,720 | (25,198) | (14,199) | 37,206 | |
| Local Giving | 2,764 | 5,300 | - | ( 2,764) | 5,300 | |
| Give Local (Costco) | 80,787 | 56,395 | (45,068) | - | 92,114 | |
| AMEX | 17,162 | 28,084 | (41,646) | - | 3,600 | |
| Principal Foundation | - | 13,500 | - | - | 13,500 | |
| John Deere | 6,851 | 20,252 | (17,268) | - | 9,835 | |
| Lenovo - Digital Future | 3,478 | 11,900 | (15,100) | (278) | - | |
| Covid Response | 8,266 | - | (4,927) | (2,739) | 600 | |
| Lenovo Month of Service | 331 | 14,318 | (8,365) | - | 6,284 | |
| 3M GoSTEM | - | 24,304 | (15) | - | 24,289 | |
| Cellnex | - | 21,748 | - | - | 21,748 | |
| Campaigns | - | 7,465 | (7,165) | - | 300 | |
| ------------ | ------------ | ------------ | ------------ | ------------ | ||
| 187,522 | 211,986 | 164,752 | (19,980) | 214,776 | ||
| ======= | ======= | ======= | ======= | ======= | ||
| 2020 | ||||||
| Transfer | ||||||
| Opening | between | Closing | ||||
| Balance | Income | Expenditure | Funds | Balance | ||
| £ | £ | £ | £ | £ | ||
| Reading Oasis | 58,622 | 74,436 | (49,360) | (15,815) | 67,883 | |
| Local Giving | 2,656 | 108 | - | - | 2,764 | |
| (Leicester) | ||||||
| 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 | - | 14,978 | (10,000) | (1,500) | 3,478 | |
| Future | ||||||
| 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 | ||
| ======= | ======= | ======= | ======= | ======= |
AMEX – funding received from American Express to fund Reading Oases in a number of schools.
Campaigns - Campaigns aimed to raise money in support of a United Way UK initiative – e.g. campaign to raise funds to buy Christmas gifts for disadvantaged children.
Cellnex - Funding received to support the Youth Challenge Programme, aimed to inspire young people to follow a career in STEM and the Telecomms industry.
28
UNITED WAY
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31[ST] DECEMBER 2021
Covid Response – Funding received in support of local, grassroots charities andcommunities impacted by the socio-economic crisis generated by the COVID-19 pandemic.
Give Local (Costco) – Payroll giving monies from Costco to fund Give Local grants.
John Deere – monies given for support centred around 2 community impact areas: Food Insecurity and Youth Employability.
Local Giving (Leicester) - payroll giving monies to be used in the local area.
Lenovo - Digital Future – Programme centred on supporting disadvantaged youth from the Glasgow area to gain digital and job readiness skills.
Lenovo Month of Service – in support of Global Month of Service Project in Basingstoke and Glasgow.
Principal Foundation – funding received to assist in promoting employability and financial literacy among disadvantaged youth in London.
Reading Oasis - funds given to develop and launch ‘United Way Reading Oasis’.
Transfers between funds – monies transferred from restricted funds to cover project management and staff costs specific to each fund’s budget.
11. UNRESTRICTED FUNDS
Unrestricted funds are spent or applied at the discretion of the trustees to further any of the charity’s purposes.
12. CASH GENERATED FROM OPERATIONS
| 2021 | 2020 | |
|---|---|---|
| £ | £ | |
| Surplus for the year | 165,409 |
93,670 |
| Adjustments for: | ||
| Depreciation | 1,589 |
171 |
| Movements in working capital: | ||
| Increase in debtors | -101,058 | -9,852 |
| Increase/(Decrease) in creditors | -6,168 | -19,279 |
| ------------- | ------------- | |
| Cash (used in)/generated from operations | 59,772 | 64,710 |
| ======== | ======== |
29
UNITED WAY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31[ST] DECEMBER 2021
13. RELATED PARTIES
Sue Knowles is a trustee of United Way and is also Marketing and Adminisrator Director at Costco. In the year Costco made a grant of £72,993 (2020: £78,740) to United Way. Sue supported the submission of United Way UK’s application for this grant but was not part of the decision making on grants. She derives no benefit from United Way in return.
William O’Dowd 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.
Remuneration of key management personnel
The remuneration of key management personnel is as follows:
| 2021 | 2020 | |
|---|---|---|
| £ | £ | |
| Aggregate compensation | 124,921 | 88,904 |
| ====== | ====== |
14. 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.
30