2023-03-31-accounts - Ufm Worldwide

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CONTENTS			PAGE
Report ofthe	Council	of Management	1-6
Reference &	Administrative Information
Independent	Auditor's	Report	8-11
Statement of	Financial	Activities	12
Balance Sheet			13
Cash Flow Statement			14
Notes to the	Financial	Statements	15-26

				Unrestricted	Unrestricted
				General	Designated	Restricted	Total Funds	Tota! Funds
				Funds	Funds	Funds	2023	2022
							6	6
Income from:
Donations and gifts				142,359	3,462,269		3,604,628	3,868,508
Legacies				90,421	10,000	24,000	124,421	142,101
Charitable activities				50,980			50,980	1,853
Investments				31,411			31,411	25,502
Total income				315,171	3,472,269	24,000	3,811,440	4,037,964
Expenditure on:
Raising funds				14,322			14,322	3,601
Charitable activities				702,297	3,367,478	24,000	4,093,775	3,525,158
Total expenditure			5	716,619	3,367,478	24,000	4,108,097	3,528,759
Net gains/(losses)	on	investments	9		(87,523)	-	(87,523)	21,097
Net income/(expenditure)		for the
year			6	(401,448)	17,268		(384,180)	530,302
Transfers between	funds
Service charge			13	342,640	(342,640)
Other transfers			13	(523,016)	523,016
Other recognised	gains/(losses):
Gains on revaluation		offixed asset	8		85,654		85,654
Net movement in funds				(581,824)	283,298		(298,526)	530,302
Reconciliation offunds:
Total funds at 1 April	2022		13	732,944	2,548,416		3,281,360	2,751,058
Total funds at 31 I)larch		2023	13	151,120	2,831,714		2,982,834	3,281,360

					2023	2022
				Note	6
Fixed assets
Tangible assets					936,737	1,082,188
Investments					1,620,990	1,175,557
Current assets
Debtors				10	115,597	191,217
Cash at bank and	in hand				386,786	881,210
					502,383	1,072,427
Creditors: amounts	falling
due within one year					(77,276)	(48,812)
Net current assets					425,107	1,023,615
Net assets					2,982,834	3,281,360
FUNDS
Unrestricted funds
General funds				14	151,120	732,944
Designated funds	(including	revaluation	reserve of6236,882	14	2,831,714	2,548,416
(2022:6198,447))
Total funds					2,982,834	3,281,360

					2023	2022
				Note	6	6
Net cash (ouNow)finflow		from operating	activities	15	(210,176)	308,680
Non-operational cash flows:
Investing activities
Proceeds	from the sale	of property			225,000
Payments	for purchase	of tangible fixed	assets		(7,703)	(30,939)
Payments	for purchase	of investments			(281,131)	(169,752)
Proceeds	from the sale	ofinvestments			183,393	198,901
Investment	income				31,411	25,502
					150,970	23,712
Net cash inflow/(outgow)		for the year		16	(59,206)	332,392

										Total Funds	Total Funds	Total Funds
											2023	2022
											5	6
Sale oftrading		items									520	1,223
Conferences	&	house	parties								50,460	630
											50,980	1,853
All charitable	activity income				in both 2023 and 2022 is unrestricted		in nature.
Investment	Income
										Total Funds		Total Funds
											2023	2022
											5	5
Interest receivable											2,549	148
Investment dividends			&interest								28,862	25,354
											31,411	25,502
All investment	income		in	both	2023 and 2022 is unrestricted	in nature.
Expenditure
Costs directly		allocated to					o o .ig e e w u w o Ot ra	m 2' e ESE 24 c 0 ix o		e O	o E' 4C g 0aa ro	Total 2023
activities												8
Missionary support							Direct				3,359,384	3,359,384
Mission field	grants						Direct				78	78
Deputation and		field travel					Direct	2,348			33,579	35,927
UFM magazine		and literature					Direct	5,957			17,873	23,830
Publicity and	advertising						Direct	3,453				3,453
Conferences	and house			parties			Direct				64,346	64,346
Trading items							Direct		400			400
Audit fees							Direct
Support costs		directly
allocated to	activities
Staff costs							Usage	1,799			514,321	516,120
Office expenses							Usage		255		72,886	73,141
Investment management				fees			Usage		28		7,861	7,889
Depreciation	&	loss on disposal					Usage		48		13,761	13,809
Governance							Usage		34		9,686	9,720
								14,322			4,093,775	4,108,097

Expenditure -Prior year	comparative
		C
Costs directly allocated activities	to	o .o e e o e ta re	mu e E t5 'e 5 o C f	oe. m f		Total 2022f
			Restated	Restated		Restated
Missionary support		Direct		2,923,446		2,923,446
Mission field grants		Direct		106		106
Deputation and field travel		Direct	2,348	18,449		20,797
UFM magazine and literature		Direct	17,705			17,705
Publicity and advertising		Direct	2,188			2,188
Conferences and house parties		Direct	1,205			1,205
Conference costs bad debt received		Direct	(20,432)			(20,432)
Audit fees		Direct			8,880	8,880
Support costs directly
allocated to activities
Staff costs		Usage	447	436,250	1,317	438,014
Office expenses		Usage	117	114,387	345	114,849
investment management	fees	Usage	9	8,575	26	8,610
Depreciation 8 loss on disposal		Usage	14	13,337	40	13,391
			3,601	3,514,550	10,608	3,528,759

This is st	ated af	ter charging	:
					2023f	2022 f
Auditor's	remuneration		-	for audit services	7,740	7,105
			-	for other services	1,980	1,775
Reimbursement		ofCouncil	members'	expenses
Depreciation					13,808	13,391
Operating	lease	payments			2,545	2,545

Staff costs and numbers	Staff costs and numbers	Staff costs and numbers
The aggregate	payroll	costs were:		2023f	2022 f
Headquarters'	gross salaries			431,267	363,864
Social security	costs			31,476	25,858
Staff Death in	Service	Cover		2,425	2,184
Consultancies				3,960	11,660
Staff Pension				45,056	34,872
Other staff costs				1,936	(424)
				516,120	438,014
The average headcount		ofemployees	during the year was:
				2023	2022
Administration				20	18

Tangible fixed assets
		Freehold		Audio	Furniture,
	Freehold	improve-		Visual 8	Fittings L
	property	mentsf	Computer	Electrical f	Equipment f	Totalf
Cost
At 1 April 2022	1,004,664	118,497	39,099	14,607	8,072	1,184,939
Additions			5,703	848	1,152	7,703
Disposals	(225,000)	(65,475)				(290,475)
Revaluation	85,654					85,654
Transfer	39,395	(53,022)				(13,627)
At 31 March 2023	904,713		44,802	15,455	9,224	974,194
Depreciation
At 1 April 2022		72,674	21,854	7,123	1,100	102,751
Charge for year		6,428	4,938	1,501	941	13,808
Disposals		(65,475)				(65,475)
Transfer		(13,627)				(13,627)
At 31 March 2023			26,792	8,624	2,041	37,457
Net book value
At 31 March 2023	904,713		18,010	6,831	7,183	936,737
At 31 March 2022	1,004,664	45,823	17,245	7,484	6,972	1,082,188

			2023f	2022 8
	Investment portfolio		1,092,403	1,082,188
	Cash held in deposit		528,587	93,369
			1,620,990	1,175,557
			2023	2022
				8
	Market value at start	ofyear	1,082,188	1,090,240
	Additions at cost		281,131	169,752
	Disposal proceeds		(183,393)	(198,901)
	Realised gain/(loss)	on investment	(344)	26,272
	Unrealised gain/(loss)	on investment	87,179	5,175
	Market value at end	ofyear	1 092403	1,082,188
	Historical cost offunds at end ofyear		984,256	979,544
	Investments comprise of:
	Fixed interest securities		219,263	176,433
	Equity shares		688,478	748,662
	Property 8 Infrastructure		184662	157093
			1,092,403	1,082,188
	Held:
	Within the UK		500,448	600,259
	Outside the UK		591,955	537,457
10	Debtors
			2023	2022
			8	f
	Prepayments		31,360	24,655
	Other debtors		84,237	166,562
			115,597	191,217
11	Creditors: amounts	falling due within one year
			2023	2022
	Monies held in Trust		49,592	(8,492)
	Social security and other taxes		8,577	8,092
	Accruals		19,107	49,212
			77,276	48,812

12	Operating Leases
	At 31 March 2023 the	organisation	had total commitments		under		non-cancellable	operating	leases as set out	below:
									2023	2022
									6	f
	Within one year								1,700	1,700
	Between two to five years									1,700
									1,700	3,400
13	Movement in funds
			At							At
			1Apr					Gainsl		31 Mar
			2022 f	Income 8		Expenditure f		(Losses) 6	Transfers	2023 6
	Restricted funds
	Gould legacy			24,000			(24,000)
				24,000			24,000
	Unrestricted funds
	General funds		732,944	315,171			(716,619)		(180,376)	151,120
	Designated funds
	Development fund		100,000	6,158			(27,344)			78,814
	Missionary Support		2,049,679	3,466,111			(3,340,134)		(342,640)	1,833,016
	Passage Fund Fixed assets cost fund		3,756						(3,756) 527,636	527,636
	Property Revaluation	Fund	198,447					85,654		284,101
	Revaluation Fund		196,534					(87,523)	(864)	108,147
			3,281,360	3,787,440			4,084,097	1,869		2,982,834
	Total funds		3,281,360	3,811,440			(4,108,097)	(1,869)		2,982,834
	Prior year comparatives
			At							At
			1Apr					Gains/		31 Mar
			2021	Income		Expenditure		(Losses)	Transfers	2022
			8	8			K	F	5	8
				Restated			Restated		Restated
	Unrestricted funds
	General funds		719,171	337,265			(605,313)	26,272	255,549	732,944
	Designated funds
	Development Fund								100,000	100,000
	Missionary Support		1,627,975	3,700,699			(2,923,446)		(355,549)	2,049,679
	Passage Fund		3,756							3,756
	Property Revaluation Revaluation Fund	Fund	198,447 201,709					(5,175)		198,447 196,534
			2,751,058	4,037,964			3,528,759	21,097		3,281,360
	Total funds		2,751,058	4,037,964			(3,528,759)	21,097		3,281,360

Analysis o	f	net asset	s between funds
				Tangible		Net
				Fixed		Current
				Assets	Investments	Assets	Total
				f	8		8
General funds						151,120	151,120
Designated		funds
Development		fund				78,814	78,814
Missionary	Support			125,000	1,512,843	195,173	1,833,016
Fixed assets		cost fund		527,636			527,636
Property Revaluation			Fund	284,101			284,101
Revaluation		Fund			108,147		108,147
				936,737	1,620,990	425,107	2,982,834

Prior ye	ar	c	omparati	ves
					Tangible		Net
					Fixed		Current
					Assets	Investments	Assets	Total
						F		6
					Restated
General	funds				758,741		(25,797)	732,944
Designated			funds
Development			Fund				100,000	100,000
MissionarY		SUPPort			125,000	975,267	949,412	2,049,679
Passage	Fund					3,756		3,756
Property	Revaluation			Fund	198,447			198,447
Revaluation			Fund			196,534		196,534
					1,082,188	1,175,557	1,023,615	3,281,360

								2023		2022
								6		6
	Statement	of Financial	Activities:		Net movement		in funds	(298,526)		530,302
	Investment	income						(31,411)		(25,502)
	Depreciation							13,808		13,391
	Net (gain)	/ loss on investments						87,523		(21,097)
	Net (gain)	/ loss on revaluation		offixed assets				(85,654)
	(Profit) / loss on sale offixed assets									925
	Increase /	(decrease)	in creditors:		current	liabilities		28,464		(48,326)
	(Increase)	/ decrease	in debtors					75,820		(141,013)
	Net cash	inflow from	operating		activities			(210,176)		308,680
16	Analysis	ofchanges	in cash during the			year
								2023	2022	Change
								6	6	6
	Cash &cash equivalents							915,373	974,579	(59,206)
								2022	2021	Change
	Cash &cash equivalents							974 579	642,187	332 392
17	Reconciliation ofcash at bank and in hand to						the Balance Sheet
								2023	2022	2021
										6
	Cash at bank and in hand per Balance Sheet							386,786	881,210	594,711
	Short-term	deposits						528,587	93,369	47,476
	Cash at bank and in hand per Cash Flow					Statement		915373	974 579	642 187

Analysis	ofchanges	in net debt
			At 1 April	Cash flow	At 31 INarch
Current year			2022	movements	2023
				6	6
Cash at bank and in		hand per Balance Sheet	881,210	(494,424)	386,786
Short-term	deposits		93,369	435,218	528,587
			974,579	59,206	915,373
			At 1 April	Cash flow	At 31 Nlarch
Prior year			2021 6	movements	2022 f
Cash at bank and in		hand per Balance Sheet	594,711	286,499	881,210
Short-term	deposits		47,476	45,893	93,369
			642,187	332,392	974,579