**UNITED WAY ANNUAL REPORT FOR THE YEAR ENDED 31[ST ] DECEMBER 2022 CHARITY NUMBER: 1153509**
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**UNITED WAY TRUSTEES REPORT AND STATEMENT OF TRUSTEES’ RESPONSIBILITY FOR THE YEAR ENDED 31[ST] DECEMBER 2022**
The Trustees present their report and financial statements, for the year ended 31[st] December 2022, 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the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn.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:
- (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.
- (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**
United Way UK continued to grow steadily and sustainably in 2022. We are proud of our achievements in the charity’s eighth year, increasing revenue, partnerships, assets and impact, diversifying our programme base and delivering compound growth of 10% (2021: 15%; 2020: 9%).
This activity generated a 57% growth in impact, supporting a total of 33,000 people during the year compared to a final total of 21,000 in 2021. The overall total number of people now supported by United Way UK’s programmes and partnerships since launching in 2014 is 145,000.
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**UNITED WAY TRUSTEES REPORT AND STATEMENT OF TRUSTEES’ RESPONSIBILITY FOR THE YEAR ENDED 31[ST] DECEMBER 2022**
Our policy of financial prudence continued and we applied a full cost recovery to all project work, ensuring that our coverage ratio policy of 9 months was met at all times during 2022.
Once again, the United Way UK trustees participated in our major donor giving programme, through the Giving Tuesday campaign delivered digitally towards the end of the year. These funds were ringfenced to cover the cost of new staff members for 2023. We thank our trustees for their commitment and support for the charity, and for the experience and capacity-building they bring year in, year out, enhancing our performance and growth.
Our progression towards more strategic interventions has continued, with multi-year, multidimensional, international programmes developing through existing and new partnerships. We have continued to provide brief interventions through one-off corporate community events and our expertise has continued to build in converting these relationships into longer term, more strategic partnerships, delivering greater impact and outcomes for the communities we serve. 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. In 2022 we worked with Lenovo on a £400,000 project, supporting the distribution of more than 700 devices to people suffering from digital exclusion and supporting more than 1,000 people from affected communities.
During 2022 United Way UK identified digital exclusion as a growing community need. Related revenue grew from 0% in 2021 to 13% of total income for the year in 2022. The House of Lords Select Committee for Digital Skills has stated that “everyday activities such as shopping, using a telephone and banking increasingly require interaction with technology. Digital skills are now necessary life skills”[1] . 10% of the UK’s adult population were identified as “non-internet users” in 2018[2] (not including people with no access to a device) and are at risk of exclusion from employment and education, inability to manage finances and social isolation.
In 2022 United Way UK also began planning for a strategic collaboration in the field of digital equity with The Internet Society – ISOC. This programme is multi-year and international, with United Ways in the UK, Netherlands, Spain, Israel, Romania and Germany collaborating to create an aligned impact model.
The identification of this trend led to the development of plans to deliver an in-house digital equity pilot programme in 2023, as several strands of opportunity came together, enabling us to donate 100 laptops to Ukranian refugees in the UK, following a donation of devices from HP that was secured through United Way in Germany.
Future plans for 2023 include harnessing this and our other digital equity work in a branded programme, augmenting our current core programme base of Reading Oasis and Give Local. This will enable us to develop strategy around this relatively new area of delivery, which is expected to
> 1 https://www.parliament.uk/globalassets/documents/lords-committees/digital-skills/Summary-and-summary-of-conclusions-andrecommendations.pdf
> 2 Exploring the UK Digital Divide
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**UNITED WAY TRUSTEES REPORT AND STATEMENT OF TRUSTEES’ RESPONSIBILITY FOR THE YEAR ENDED 31[ST] DECEMBER 2022**
continue to be of key significance in the UK and around the world (and is included in global SDGs) as digital technology expands exponentially.
The United Way UK team was enlarged to accommodate increased impact delivery, with a second Project Officer in 2022. Our overall admin levels increased alongside growth in delivery and our Administrative Officer increased her part-time hours, bringing the team to 6.25 FTEs (from 5 in 2021). Plans and fundraising were also undertaken to recruit another full-time operational officer in 2023 to accommodate increased impact delivery, ensuring we are able to meet our commitments.
During the year we took time to prepare for our next phase of growth, focusing on our strategic goals around communication and raising our profile in the UK. Following on from the strategic marketing development begun in 2021 and continuing our work with the Still Curious marketing agency, we completed development of marketing and branding strategies along with a comprehensive communications plan. In the summer of 2022 this culminated in the launch of our brand new website, in anticipation of growing our network, supporters and impact further in 2023 and to support delivery of our strategic goals.
Our two core programmes, Reading Oasis and Give Local, continued during the year:
The knock-on effects of lockdowns and school closures through industrial action continued to affect the Reading Oasis project. During the year we delivered book replenishments for 11 existing installations and developed the relationship with Estee Lauder. A review of the programme was begun, including how we fund the libraries, and plans to diversify the funding base were made for 2023 along with plans to undertake a research project that will allow us to more robustly evaluate impact, enhancing our ability to raise funds for the programme, thereby reaching more underrepresented children.
Our Give Local programme continued to grow, with donations from the Costco partnership increasing by 20% (2022: £110,942; 2021: £92,114) through increased participation and donation amounts. The community impact value increased from £45,000 in 2021 to £46,000 in 2022. In addition, two new payroll giving partnerships were secured, with ITW and Hudl.
## **FINANCIAL REVIEW**
Income totalling £691,114 (2021: £519,087) was received in the year, of which £393,219 was by way of donation (2021: £270,204). Expenditure for the year totalled £621,036 (2021: £353,678) all of which was spent on charitable activities. At 31[st] December 2022 the charity’s reserves stood at £631,546 (2021: £561,468) with £377,329 being restricted funds (2021: £214,776).
## **Risk Management:**
The charity reviewed risk during 2022, 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
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**UNITED WAY TRUSTEES REPORT AND STATEMENT OF TRUSTEES’ RESPONSIBILITY FOR THE YEAR ENDED 31[ST] DECEMBER 2022**
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 and in 2023 we will begin the process of forming a dedicated freelance team.
3. 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 £254,217 (2021: £346,692) this is approximately 6 months’ (2021: 22 months) average expenditure. The current 9 months’ average desired level is approximately £366,538 (2021: £141,695 the remaining £nil (2021: £204,997) is being held to finance future projects.
## **Plans for the Future:**
Great progress has been made in 2022 that will position us for sustained growth. We continue to deliver on our strategic plan 2022-24 and achieved all targets in 2022, over-achieving on some, with the exception of Reading Oasis, which continued to be affected by the fallout of the pandemic.
Our plan 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, including planning an awareness raising event in Q1 2024 to coincide with the UWW Board meeting being held in London.
## **2. Raise our profile**
Our new website and marketing strategy will be key factors in growing our audience, positioning the organisation strategically and messaging effectively, with the goal of communicating clear and compelling impact stories to increase funding and impact. In 2023 we plan to recruit new trustees with events capability and network assets to ensure our events are successful in increasing audience, fundraising 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 plan to improve our impact measurement processes, systems and capability alongside building marketing
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**UNITED WAY TRUSTEES REPORT AND STATEMENT OF TRUSTEES’ RESPONSIBILITY FOR THE YEAR ENDED 31[ST] DECEMBER 2022**
capability as described in key priority 5. In 2023 we plan to develop and execute a research proposal to more effectively evaluate the impact – short, medium and long term – of the Reading Oasis programme.
## **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. In 2023 we plan to review and diversify our funding base for Reading Oasis.
## **5. Grow Give Local**
This is a tried and tested, successful flagship initiative which can be replicated easily given the expertise, resources and experience we have developed. In 2023 we plan to work with community partners to explore ways of scaling the programme.
## **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 20 and we are receiving new requests regularly. In 2023 we plan to diversify our core programme base to include an initiative around digital exclusion, to meet the changing goals and demands of corporate social responsibility and of the communities we serve.
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**UNITED WAY TRUSTEES REPORT AND STATEMENT OF TRUSTEES’ RESPONSIBILITY FOR THE YEAR ENDED 31[ST] DECEMBER 2022**
## **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:
- Vision: United Way envisions a world where all individuals and families achieve their human potential through education, income stability and healthy lives
- Mission: To improve lives by mobilising the caring power of communities around the world to advance the common good
Operations:
- Conducts a study of the community and evaluates pressing problems
- Engages members of the community as volunteers, donors and partners
- Mobilises resources through diverse resource development activities
- 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 AND STATEMENT OF TRUSTEES’ RESPONSIBILITY FOR THE YEAR ENDED 31[ST] DECEMBER 2022**
## **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 Ms Elizabeth Mary Ellen Buss (appointed June 2023) Mr. William O’Dowd Mr. Murray Orr (appointed June 2023) Mr. Steve Pappas Mr. Neil Maffey Mr. Nailesh Rambhal Mr. Francesco Vanni D’Archirafi Ms. Sue Knowles _**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
TRUSTEES REPORT AND STATEMENT OF TRUSTEES. RESPONSIBILITY FOR THE YEAR
ENDED 31ST DECEMBER 2022
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 slate 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:
Select suitable accounting policies and then apply them consistently;
Observe the methods and principles in the Charities SORP
Make judgements and estimates that are reasonable and prudent;
State whether applicable accounting standards have been followed, subject to any material
departures disclosed and explained in the financial slatements., and
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 thelr behalf by
PATL
Gary von Lehmden
Chair of Trustees
Peter Badenhuizen
Trustee - Treasurer
Dated: 10 October 2023
**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 2022 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).
- In our opinion, the financial statements:
- give a true and fair view of the state of the charity’s affairs as at 31 December 2022 and of its incoming resources and application of resources, for the year then ended;
- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
- 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:
- the information given in the financial statements is inconsistent in any material respect with the trustees' report; or
- sufficient accounting records have not been kept; or
- the financial statements are not in agreement with the accounting records; or
- 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**
- 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;
- we identified the laws and regulations applicable to the charity through discussions with trustees and other management;
- 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;
- we assessed the extent of compliance with the laws and regulations identified above through making enquiries of management and inspecting legal correspondence; and
- 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:
- making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud; and
- 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:
- performed analytical procedures to identify any unusual or unexpected relationships;
- tested journal entries to identify unusual transactions;
- assessed whether judgements and assumptions made in determining the accounting estimates were indicative of potential bias; and
- 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:
- agreeing financial statement disclosures to underlying supporting documentation;
- reading the minutes of meetings of those charged with governance; and
- 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 2022**
|||**Year to 31st December**|**Year to 31st December**|**2022**|**Year to**|
|---|---|---|---|---|---|
||**Unrestricted**||**Restricted**|**31st December**||
||**Notes**|**Funds**|**Funds**|**Total**|**2021**|
|||**£**|**£**|**£**|**£**|
|**Income from:**||||||
|Donations and legacies|3|327,347|65,872|393,219|270,204|
|Charitable activities|4|62,357|235,538|297,895|248,883|
|||-------------|--------------|--------------|--------------|
|**Total**||**389,704**|**301,410**|**691,114**|**519,087**|
|||-------------|--------------|--------------|--------------|
|**Expenditure on:**||||||
|Charitable activities|5|488,717|132,319|621,036|353,678|
|||--------------|--------------|--------------|--------------|
|**Total**||**488,717**|**132,319**|**621,036**|**353,678**|
|||--------------|--------------|--------------|--------------|
|**Net (expenditure)/income / Net**||||||
|**movement in funds before**||**(99,013)**|**169,091**|**70,078**|**165,409**|
|**transfers between funds**||||||
|Transfer between funds|10,11|6,538|(6,538)|-|-|
|||--------------|--------------|--------------|--------------|
|**Net income / Net movement in**||||||
|**funds after transfers between**||(92,475)|162,553|70,078|165,409|
|**funds**||||||
|**Reconciliation of funds:**||||||
|Total funds brought forward|10,11|346,692|214,776|561,468|396,059|
|||--------------|--------------|--------------|--------------|
|**Total funds carried forward**|9-11|**254,217**|**377,329**|**631,546**|**561,468**|
|||========|========|========|=======|
The notes on pages 18 to 29 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 2022**
|||**Year to 31st December**|**Year to 31st December**|**2021**|
|---|---|---|---|---|
|||**Unrestricted Restricted**|||
||**Notes**|**Funds**|**Funds**|**Total**|
|||**£**|**£**|**£**|
|**Income from:**|||||
|Donations and legacies|3|180,025|90,179|270,204|
|Charitable activities|4|127,076|121,807|248,883|
|||-------------|--------------|--------------|
|**Total**||**307,101**|**211,986**|**519,087**|
|||-------------|--------------|--------------|
|**Expenditure on:**|||||
|Charitable activities|5|188,926|164,752|353,678|
|||--------------|--------------|--------------|
|**Total**||**188,926**|**164,752**|**353,678**|
|||--------------|--------------|--------------|
|**Net (expenditure)/income / Net**|||||
|**movement in funds before**||**118,175**|**47,234**|**165,409**|
|**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|
|**funds**|||||
|**Reconciliation of funds:**|||||
|Total funds brought forward|10,11|
208,537|187,522|396,059|
|||--------------|--------------|--------------|
|**Total funds carried forward**|9-11|**346,692**|**214,776**|**561,468**|
|||=======|=======|=======|
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UNITED WAY
BALANCE SHEET AS AT 31ST DECEMBER 2022
Note
318t December 2022 31st December 2021
Fixed assets."
Intangible assets
Tangible assets
22,402
2,660
4,870
Current assets."
Debtors
Cash at bank
203,063
456,275
120,629
484,971
Total current assets
659,338
605,600
Liabilities."
Creditors- amounts falling due within
one year
(52,854)
(49,002)
Net current assets
606,484
556,598
Net Assets
631,546
561,468
The funds of the charity..
Unrestricted funds
Restricted funds
9,11
9,10
254,217
377,329
346,692
214,776
Total charity funds
631,546
561,468
Approved and authorised for issue by the trustees and signed on their behalf by
PAfL
Gary von Lehmden
Chair of Trustees
Peter Badenhuizen
Trustee - Treasurer
Dated:
10 October 2023
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**UNITED WAY STATEMENT OF CASH FLOW FOR THE YEAR 31[ST] DECEMBER 2022**
||**Note**|**31st December 2022**|**31st December 2022**|**31st December 2021**|**31st December 2021**|
|---|---|---|---|---|---|
|**Cash flows from operating activities**||**£**|**£**|**£**|**£**|
|Cash (used)/generated from operations
|**12**||(5,320)||59,772|
|**Investing activities**||||||
|Purchase of intangible fixed assets||(23,376)|||-|
|Purchase of tangible fixed assets|||-|(3,721)||
|Interest received||||||
|||----------||----------||
|**Net cash generated from/ (used) in**
**investing activities**|||(23,376)||(3,721)|
|**Net cash generated from financing**||||||
|**activities**|||-||-|
||||----------||----------|
|**Net increase/(Decrease) in cash and**
**cash equivalents**|||**(28,696)**||**56,051**|
|Cash and cash equivalents at beginning
of year|||484,971||428,920|
||||------------||------------|
|**Cash and cash equivalents at end of**
**year**|||**456,275**||**484,971**|
||||=======||=======|
|**Represented by:**||||||
|||**31st December 2022**||**31st**|**December 2021**|
|||**£**|**£**|**£**|
**£**|
|**Cash at bank**|||**456,255**||**484,971**|
||||=======||=======|
17
**UNITED WAY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31[ST] DECEMBER 2022**
## 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) 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.
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
18
**UNITED WAY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31[ST] DECEMBER 2022**
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 depreciated or amortised over its useful economic life on the following basis:
Computer Equipment – 33.33% on straight line
Intangiblles – 20% on straight line basis
## _**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.
19
**UNITED WAY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31[ST] DECEMBER 2022**
## _**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**||||
|---|---|---|---|---|
||**2022**|**Unrestricted**|**Restricted**|**2022**|
|||**Funds**|**Funds**|**Total**|
|||**£**|**£**|**£**|
||Donations|45,601|65,872|111,473|
||Donations in kind|197,000||197,000|
||Grants:||||
||_Costco_|84,746|-|84,746|
|||------------|------------|------------|
|||**327,347**|**65,872**|**393,219**|
|||=======|=======|=======|
||**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**|
|||=======|======|=======|
20
**UNITED WAY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31[ST] DECEMBER 2022**
## 4. **INCOME FROM CHARITABLE ACTIVITIES**
||**Unrestricted Restricted**|**2022**|**2021**|
|---|---|---|---|
||**Funds**
**Funds**|**Total**|**Total**|
|United Way in the UK|**£62,357**
**£235,538**|**£297,895**|**£248,883**|
||======
=======|=======|========|
|2021: Restricted funds £121,807, unrestricted funds £127,076.||||
## 5. **EXPENDITURE ON CHARITABLE ACTIVITIES**
|||**Direct**|**Support &**|||
|---|---|---|---|---|---|
|||**Charitable**|**Governance**|**2022**|**2021**|
|||**Expenditure**|**Costs**|**Total**|**Total**|
||United Way in the UK|**£435,413**|**£185,623**|**£621,036**|**£353,678**|
|||========|========|========|========|
||||**2022**|**2021**||
|a.|Analysed as follows:|||||
||||**£**|**£**||
||_Direct charitable expenditure:_|||||
||Staff costs||250,501|191,448||
||Promotion and marketing||9,269|14,650||
||Reading Oasis direct costs||10,694|57,875||
||Give Local Grants *||46,000|45,000||
||Other grants||34,344|9,045||
||Equipment Donation||37,000|-||
||Project delivery costs||37,909|17,441||
||United Way dues||5,012|(9)||
||Fundraising development||168|168||
||Travel & subsistence||1,938|534||
||Gift aid charges||487|1,122||
||Bank charges and interest||2,091|202||
||Miscellaneous||-|149||
||||------------|------------||
||||435,413|337,625||
||||------------|------------||
21
**UNITED WAY**
**NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31[ST] DECEMBER 2022**
|_Support and governance costs:_|||
|---|---|---|
|Office costs|15,448|7,528|
|Rent|160,000|-|
|Recruitment|275|225|
|Financial administration|6,600|5,000|
|Audit|3,300|3,300|
||------------|------------|
||185,623|16,053|
||------------|------------|
||**621,036**|**353,678**|
||=======|=======|
2021: Restricted funds £164,752, unrestricted funds £188,926
* see note 5d for breakdown
During the year there were no out of pocket expenses reimbursed to trustees (2021: £nil)
|||**2022**|**2021**|
|---|---|---|---|
|b.|Analysis of staff costs:|**£**|**£**|
||Salaries|221,575|171,690|
||Social security|18,742|12,309|
||Pension|10,184|7,449|
|||------------|------------|
|||**250,501**|**191,448**|
|||=======|=======|
- c. Particulars of employees **:**
The average number of employees during the year was as follows:
||**2022**|**2021**|
|---|---|---|
|Charitable activities|6.25|5|
||====|====|
|This equated to 6.25 full time equivalent staff (2021: 5).|||
1 employee received emoluments of £60,000 or more during the year.
||**No.**|**No.**|
|---|---|---|
|**Emoluments**|**Employees**|**Employees**|
||**2022**|**2021**|
|£80,000 – £89,999|1|-|
|£70,000 - £79,999|-|1|
The trustees are not remunerated for their services and are not included in the above number of employees.
22
**UNITED WAY**
**NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31[ST] DECEMBER 2022**
- d. During the year the following grants to organisations were made:
|**Organisations**|**£**|
|---|---|
|After18|1,500|
|Angels of Hope for Women|1,500|
|Cianna’s Smile|1,500|
|Common Wheel|1,500|
|Croydon Youth Theatre Organisation|1,500|
|Fife Centre for Equalities|1,000|
|Fox Amateur Boxing Club|1,500|
|Get Set 4 Tennis CIC|1,500|
|Global Education Derby|1,500|
|Hope Community Project (Wolverhampton)|1,500|
|Leeds Baby Bank|1,500|
|Leith Community Archers|1,500|
|Mustard Seed Autism Trust|1,500|
|Oliver Tree Cancer Support|1,000|
|PACE Charitable Trust|1,500|
|Platform for Life|1,500|
|Riana Development Network|1,500|
|SAGE Greenfingers ( Support Arts Gardening Education)|1,500|
|SensationALL|1,500|
|Southampton Childrens Play Association|1,500|
|Stand-by-me Bereavement Support|1,500|
|Streetlight UK|1,000|
|Surplus to Supper Trust CIO|1,500|
|The Lewis Foundation|3,000|
|The Mentor Ring|1,500|
|The Muirhead Outreach Project|1,000|
|Thurrock Play Network|1,500|
|Tiny Tims Childrens Centre|1,500|
|Waltham Forest Disability Resource Centre|1,500|
|West Everton Community Council|1,500|
|Wicked Weather Watch|1,500|
||------------|
|Total grants|**46,000**|
||=======|
23
**UNITED WAY**
**NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31[ST] DECEMBER 2022**
## 6. **TANGIBLE FIXED ASSETS**
|**TANGIBLE FIXED ASSETS**|||
|---|---|---|
||**Computer**||
||**Equipment**|**Total**|
||**£**|**£**|
|**Cost**|||
|Balance at 1stJanuary 2022|7,874|7,874|
|Additions in the year|-|-|
||---------|---------|
|Balance at 31stDecember 2022|7,874|7,874|
||---------|---------|
|**Accumulated Depreciation**|||
|Balance at 1stJanuary 2022|3,004|3,004|
|Charge for the year|2,210|2,210|
||---------|---------|
|Balance at 31stDecember 2022|5,214|5,214|
||---------|---------|
|**Net Book Value at 31st December 2022**|
**2,660**|**2,660**|
||=====|=====|
|Net Book Value at 31stDecember 2021|4,870|4,870|
||======|====|
|All fixed assets are used in furtherance of|the organisation’s|charitable objectives.|
## **INTANGIBLE FIXED ASSETS**
||**Website**||
|---|---|---|
||**Development**|**Total**|
||**£**|**£**|
|**Cost**|||
|Balance at 1stJanuary 2022|-|-|
|Additions in the year|23,376|23,376|
||---------|---------|
|Balance at 31stDecember 2022|23,376|23,376|
||---------|---------|
|**Accumulated Amortisation**|||
|Balance at 1stJanuary 2022|-|-|
|Charge for the year|974|974|
||---------|---------|
|Balance at 31stDecember 2022|974|974|
||---------|---------|
|**Net Book Value at 31st December 2022**|**22,402**|**22,402**|
||=====|=====|
|Net Book Value at 31stDecember 2021|-|-|
||======|====|
24
**UNITED WAY**
**NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31[ST] DECEMBER 2022**
|7.|**DEBTORS**|||
|---|---|---|---|
|||**2022**|**2021**|
|||**£**
|**£**|
||Prepayments|3,960|360|
||Other debtors|199,103|120,269|
|||-----------|-----------|
|||**203,063**|**120,629**|
|||======|=====|
|8.|**CREDITORS**|||
|||**2022**|**2021**|
|||**£**
|**£**|
||Other creditors|35,639|33,859|
||Accruals|17,215|15,143|
|||-----------|-----------|
|||**52,854**|**49,002**|
|||======|======|
## 9. **ANALYSIS OF NET ASSETS BETWEEN FUNDS**
|**2022**|||**Net current**||
|---|---|---|---|---|
||**Fixed**|**Cash**|**assets**|**Total**|
||**assets**|**balances**|**/(liabilities)**|**2022**|
||**£**|**£**|**£**|**£**|
|Unrestricted funds|25,062|248,618|(19,463)|254,217|
||------------|------------|------------|--------------|
|Restricted funds:|||||
|Reading Oasis|-|29,225|-|29,225|
|Local Giving|-|5,704|-|5,704|
|Give Local (Costco)|-|106,475
|4,467|110,942|
|John Deere|-|6,333|37,000|43,333|
|Lenovo Month of Service|-|(5,471)|13,739|8,268|
|Campaigns|-|983|-|983|
|Cellnex|-|18,899|63,656|82,555|
|Estee Lauder RO|-|-|6,000|6,000|
|Schools|||||
|Pitney Bowes|-|1,952|1,810|3,762|
|ISOC-UW Netherlands|-|43,557|43,000|86,557|
|Joining Forces|||||
||------------|------------|------------|--------------|
||-|207,657|169,672|377,329|
||------------|------------|------------|--------------|
||**25,062**|**456,275**|**150,209**|**631,546**|
||=======|=======|=======|========|
25
**UNITED WAY**
**NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31[ST] DECEMBER 2022**
|**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**|
||=======|=======|=======|========|
||||||||
|---|---|---|---|---|---|---|
|10.|**RESTRICTED FUNDS**||||||
||||||**Transfers**||
||**2022**|**Opening**|||**between**|**Closing**|
|||**Balance**|**Income**|**Expenditure**|**Funds**|**Balance**|
|||**£**|**£**|**£**|**£**|**£**|
||Reading Oasis|37,206|-|(7,981)|-|29,225|
||Local Giving|5,300|4,404|(4,000)|-|5,704|
||Give Local (Costco)|92,114|60,828|(42,000)|-|110,942|
||AMEX|3,600|(994)|(2,606)|-|-|
||Principal Foundation|13,500|-|(13,500)|-|-|
||John Deere|9,835|57,817|(24,319)|-|43,333|
||Covid Response|600|-|(341)|(259)|-|
||Lenovo Month of Service|6,284|16,194|(14,210)|-|8,268|
||3M GoSTEM|24,289|-|(18,009)|(6,280)|-|
||Cellnex|21,748|63,656|(2,849)|-|82,555|
||Campaigns|300|1,350|(667)||983|
||Estee Lauder RO|-|6,000|-|-|6,000|
||Schools||||||
||Pitney Bowes|-|5,399|(1,637)|-|3,762|
||ISOC-UW|-|86,756|(199)|-|86,557|
||Netherlands Joining||||||
||Forces||||||
|||------------|------------|------------|------------|------------|
|||**214,776**|**301,410**|**(132,318)**|**(6,539)**|**377,329**|
|||=======|=======|=======|=======|=======|
26
**UNITED WAY**
**NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31[ST] DECEMBER 2022**
|||||**Transfers**||
|---|---|---|---|---|---|
|**2021**|**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**|
||=======|=======|=======|=======|=======|
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.
Covid Response - Funding received in support of local, grassroots charities and communities impacted by the socio-economic crisis generated by the COVID-19 pandemic.
Estee Lauder RO Schools – Funding received in support of Reading Oasis Programme
Give Local (Costco) - Payroll giving monies from Costco to fund Give Local grants.
ISOC-UW Netherlands Joining Forces - Funding received in support of Joining Forces Programme
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.
3M GoStem- Funds were used to advance equity in youth access to STEM education and career opportunities by providing young people with insight and knowledge on the STEM
27
**UNITED WAY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31[ST] DECEMBER 2022**
sector and supporting them to develop social skills and job readiness skills, inspiring them to follow an academic and/or professional career in STEM.
Pitney Bowes - Funding received in support of Christmas “making something that matters” initiative and corporate volunteering opportunities
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**
||**2022**|**2021**|
|---|---|---|
||**£**|**£**|
|Surplus for the year|70,078
|165,409|
|**Adjustments for:**|||
|Depreciation and Amortisation|3,184
|1,589|
|**Movements in working capital:**|||
|Increase in debtors|(82,434)|(101,058)|
|Increase/(Decrease) in creditors|3,852|(6,168)|
||-------------|-------------|
|**Cash (used in)/generated from operations**|**(5,320)**|**59,772**|
||========|========|
## 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 £84,746 (2021: £72,993) 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 £16,592. Interest is chargeable at 1% interest which is less than market rate.
28
**UNITED WAY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31[ST] DECEMBER 2022**
## **Remuneration of key management personnel**
The remuneration of key management personnel is as follows:
||**2022**|**2021**|
|---|---|---|
||**£**|**£**|
|Aggregate compensation|150,314|124,921|
||======|======|
## 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.
29