**Charity number: 250788**
## **GENERAL ASSEMBLY OF UNITARIAN & FREE CHRISTIAN CHURCHES**
**TRUSTEES' REPORT AND FINANCIAL STATEMENTS**
**FOR THE YEAR ENDED 30 SEPTEMBER 2022**
**GENERAL ASSEMBLY OF UNITARIAN & FREE CHRISTIAN CHURCHES**
## **CONTENTS**
||Page|
|---|---|
|**Reference and administrative details of the Charity, its Trustees and advisers**|1|
|**Trustees' report**|2 - 7|
|**Independent auditors' report on the financial statements**|8 - 11|
|**Consolidated statement of financial activities**|12|
|**Consolidated balance sheet**|13|
|**Charity balance sheet**|14|
|**Consolidated statement of cash flows**|15|
|**Charity statement of cash flows**|16|
|**Notes to the financial statements**|17 - 46|
**GENERAL ASSEMBLY OF UNITARIAN & FREE CHRISTIAN CHURCHES**
## **REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 30 SEPTEMBER 2022**
|**Trustees**|Mrs. M Baker, (Convenor) (resigned 6 April 2023)|
|---|---|
||Rev. Dr. R Whiteman, (Hon. Treasurer)|
||Ms H Dumpleton|
||Mr R Ince (resigned 6 April 2023)|
||Rev. C M Cartwright|
||Ms J A Jacobs|
||Rev. J James|
||Mr S Hall (resigned 31 August 2022)|
||Mr J Bates (appointed 6 April 2023)|
||Mr W Thomas (appointed 6 April 2023)|
|**Charity registered**
**number**
250788
**Principal office**
Essex Hall
1-6 Essex Street
London
WC2R 3HY
**Chief officer**
Ms E Slade
**Independent auditors**
Shaw Gibbs (Audit) Limited
264 Banbury Road
Oxford
OX2 7DY
**Investment advisors**
BNY Mellon Fund Managers Ltd
London Branch
One Canada Square
Canary Wharf
London
E14 5AL||
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**GENERAL ASSEMBLY OF UNITARIAN & FREE CHRISTIAN CHURCHES**
## **TRUSTEES' REPORT FOR THE YEAR ENDED 30 SEPTEMBER 2022**
The Trustees present their annual report together with the audited financial statements of the Charity for the year 1 October 2021 to 30 September 2022.
Members during the year: Mrs M Baker (Convenor) (resigned 6 April 2023) Rev Dr Rob Whiteman (Hon Treasurer) Ms H Dumpleton Mr R Ince (resigned 6 April 2023) Rev. C M Cartwright Ms J Jacobs Rev. J James Mr S Hall (resigned 31 August 2022) Mr J Bates (appointed 6 April 2023) Mr W Thomas (appointed 6 April 2023)
The Executive Committee (EC) acts as the trustee body of the General Assembly (GA) and is responsible for determining the overall direction and development of the GA in line with the decisions and policies agreed at the Annual Meetings and the requirements of charity law and other legal requirements. The Executive Committee provides strategic leadership, appoints the Chief Officer, and is responsible for ensuring the effective use of the assets of the General Assembly. Executive Committee members are not representatives of individual districts or areas of the country but must act in the best interests of the General Assembly as a charity.
## **Purpose and objectives**
## **a. Object**
To promote a free and inquiring religion through the worship of God and the celebration of life; the service of humanity and respect for all creation; and the upholding of the liberal Christian tradition.
## **b. Public benefit**
The Trustees have had due regard to the guidance issued by the Charity Commission on public benefit when reviewing the charity’s objectives and planning future activities.
## **c. Constitution**
General Assembly Of Unitarian & Free Christian Churches is a registered charity, number 250788, and is constituted under a Trust deed.
## **Achievements and performance**
## **a. Main achievements of the Charity**
This year saw some relief from the acute crisis of the COVID-19 pandemic for many, but we know that the lives of many of our members and congregations have been changed in a way that means we can’t go back to how things were before - some positive, and some challenging. The continuation of online and hybrid gatherings increases the variety and accessibility of our worship, and we’re grateful to all those who have developed their skills in order to create this.
We were relieved and excited to hold our Annual Meetings in person in 2022, for the first time since 2019. It meant a lot to be able to be together in the same physical space, and yet we know that it is still not possible for everyone to gather in that way. We thank Rev Wyn Thomas for his powerful Anniversary Service, where we also welcomed Revs Mark Hutchinson, Melda Grantham, Rory Castle Jones, Robin Hanford and Stephanie Bisby as
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**GENERAL ASSEMBLY OF UNITARIAN & FREE CHRISTIAN CHURCHES**
## **TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2022**
## **Achievements and performance (continued)**
new Ministers to the Roll (some of whom had waited a long time to be presented to the movement due to the disruption of COVID-19). We were glad to donate the full collection from the Anniversary Service to the Red Cross’s aid work in Ukraine, a total of £5,406 including Gift Aid.
The membership debated and discussed motions on trans rights, membership of the United Nations We The Peoples campaign, the GA’s chalice design, and the risk of privatisation of the NHS - with all four motions passed as resolutions.
A quarter of attendees at the Annual Meetings were there for the first time, and there was an atmosphere of positivity and progress. Thank you to all those who led sessions, took part in debate, represented societies in the exhibition hall, and provided support behind the scenes. Special thanks to the ministry students who helped welcome our guests and keep everything running smoothly - thank you Hannah Stephenson, Arek Malecki, Francis Elliot-Wright, Rob Foreman, and Shana Begum.
The Lindsey Press was proud to launch ‘Why are we here? Discerning our Unitarian mission in an upturned world’, a collection of essays and prompts for discussion based on the previous year’s Summer School. This is proving to be a valuable resource for congregations to engage in conversation about their purpose and vision. Thank you to Catherine Robinson as Convenor of the Lindsey Press Panel, and to Rev Jane Blackall as Convenor of Summer School, and to the contributors, Rev Jo James, Rev Rory Castle Jones, Shana Begum, and Rev Kate Brady McKenna.
## **b. Ministry**
We are grateful to the Ministerial Fellowship for inviting Liz Slade and Simon Bland to their autumn conferences, and the commitment to collegial relationships between ministers and the GA. Since autumn 2021, we have been holding monthly ‘Ministry Coffeehouse’ Zoom meet-ups as an informal space to share news and ideas - all ministers are welcome.
We congratulate Rev Dr Claire MacDonald on her appointment as Ministry Tutor and Chaplain at Harris Manchester College, Oxford (from September 2022), where she has the remit for reimagining ministry training at the college to reflect today’s context.
We welcome Rev Dr Jane Blackall and Rev Julio Torres to the GA Roll of Ministers.
## **c. GA staff**
Dr Lizzie Kingston Harrison joined the staff team in October 2021 as Congregational Connections Lead, and has been establishing strong relationships with many leaders across the country, sharing practical resources and inspiring stories. Lizzie is a member at Framlingham and joins us with a background in education, following her doctoral research about Joseph Priestley, which seeded her interest in Unitarianism. A major achievement this year has been the launch of Worship Words, an online repository of worship materials, created by and for Unitarians in the UK. Thank you to the team who have been working with Lizzie to create and manage this. Lizzie continues to host the ‘Congregations in the Community’ calls that were started by her predecessor Bob Janis, and these are available on our YouTube channel.
We welcomed Ann Howell to the team in October 2022 as Social Action Officer. We are grateful to the Bowland Trust for their support in making this role possible. Ann is Chair of Lewisham Unity, and was a co-founder of Simple Gifts, the Unitarian social action centre in East London. Ann works closely with the Penal and Social Affairs Panel and is listening to the needs and wishes of the wider Unitarian community to discern how we best support our congregations in making an impact in social justice work.
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**GENERAL ASSEMBLY OF UNITARIAN & FREE CHRISTIAN CHURCHES**
## **TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2022**
## **Achievements and performance (continued)**
## **d. Strategic priorities**
We continue to frame our work around the priorities we identified in 2021:
- Enabling people to act: recognising that the GA’s role is to help build capacity and allow our movement to grow from the ground up
- Designing for spiritual health: shaping our work around the things that make the most impact to people’s spiritual wellbeing
- Communicating inside the movement: sharing information and resources between the GA and our members
- Communicating with the wider world: getting our message and values out to new audiences, nationally and locally
- Strengthening our foundations: making the most of our resources for a sustainable future
These help us to keep a focus on where the GA’s energy and attention is spent; they are not intended to be priorities that we impose on congregations, but local leaders may find the same lenses useful in looking at activities and priorities in congregations and districts.
We also hold these priorities in mind as we consider how we balance our focus on supporting existing congregations with the need to support the emergence of new forms in which our free and inquiring faith might be expressed. We recognise the sustainability of our membership as a key risk to our movement, as our overall numbers have declined for many years, and so we continually try to prioritise our work with this context in mind.
We are currently developing a toolkit to support congregations in the practical matters that they deal with week to week. This will cover administration, governance, communication, and supporting congregations move towards their vision. As well as providing guidance and resources, we will be facilitating local leaders to connect with each other so we can strengthen peer-to-peer support.
We recognise the need to support emerging leaders, both those who lead worship and those who provide leadership behind the scenes.
We also recognise the need to make space for the deeper conversations about trends and currents within our movement; it is not a straightforward task to hold the diversity of cultures, beliefs, and practices in a sense of unity, and the distance that COVID-19 brought has often made this harder.
## **e. Finances**
The accounts of the General Assembly are set out later in this report in summary form along with those of the Nightingale Centre. A full copy of the annual accounts is available on the Charity Commission website and from Essex Hall.
The Finance Group of the EC has continued to meet regularly by Zoom, Chaired by Rob Whiteman as Honorary Treasurer, with Marion Baker, Robert Ince, David Joseph (Finance Manager) and Liz Slade (Chief Officer), the Finance Group supports the in-year budget planning process, and looks at longer-term financial sustainability for the GA.
The General Assembly’s reserves policy is to hold sufficient free reserves, not restricted by their purpose or by virtue of endowment, to ensure that it is able to service its annual budgeted expenditure and to ensure that its risks in relation to its pension obligations are mitigated. The Finance Group will be reviewing the adequacy of
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**GENERAL ASSEMBLY OF UNITARIAN & FREE CHRISTIAN CHURCHES**
## **TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2022**
## **Achievements and performance (continued)**
this reserves policy in line with the GA’s investment policy.
Discussions have continued with Newtons, our investment manager, around how best to disinvest from fossil fuels, in line with the resolution passed by the membership in 2021.
We have sought advice from a fundraising consultant, particularly in the domain of legacy fundraising, to build on the generosity of those gifts bequeathed to the GA recently.
We are grateful for the ongoing financial support from the British & Foreign Unitarian Association, the Bowland Trust, and the Essex Hall Trust that makes so much of our work possible.
## **f. Risks**
- The EC have taken a revised approach to risk management, and have identified the following as our key risks:
- _Membership sustainability:_ Inability to retain and improve our membership numbers leading to existential failure
- _Safeguarding:_ accusation or discovery of inappropriate or harmful behaviour (historic or current)
- _Fraud:_ fraudulent or illegal activity leading to a loss of assets and inability to function
- _Ministers Pension Fund_ : failure of existing fund management leading to a funding shortfall requiring cash input from GA as guarantor of last resort
- _Pandemic_ : Inability to respond to a new COVID-19 or similar outbreak leading to failure to protect individual health
- _Financial sustainability_ : Inability to generate sufficient financial resources
- _Buildings sustainability_ : Inability to maintain our buildings to an appropriate standard
The financial and sustainability risks are being addressed and managed by leadership from the finance group (sub-committee); building risks are addressed by the buildings panel. Safeguarding risks are addressed by the provision of training for relevant staff and volunteers in respect of children or vulnerable adults attending Unitarian events. Not all risks can be mitigated in advance, and soome e.g. reputational risks will be managed should a risk event occur.
## **Financial review**
## **a. Going concern**
After making appropriate enquiries, the Trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the accounting policies.
## **b. Reserves policy**
General Assembly's reserves policy is to hold sufficient free reserves, not restricted by their purpose or by virtue of endowment, to ensure that it is able to service its annual busdgeted expenditure and to ensure that its risks in relation to its pension obligation are migated. As at 30th September 2022 the amount of reserves in the General Fund was £3,261,598 (2021 - £3,392,015) of which £526,712 (2021 - £529,140) was represented by net current assets.
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**GENERAL ASSEMBLY OF UNITARIAN & FREE CHRISTIAN CHURCHES**
## **TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2022**
## **c. Financial risk management**
The Trustees have assessed the major risks to which the Group and the Charity are exposed, in particular those related to the operations and finances of the Group and the Charity, and are satisfied that systems and procedures are in place to mitigate exposure to the major risks.
The main risk to the Charity is the level of members, particularly in light of challenges to congregations from the financial and social impact of pandemic. The Charity monitors membership numbers closely and steps are being taken to maintain membership numbers.
## **d. Principal funding**
The General Assembly’s funding is derived mainly from voluntary income from within the Unitarian movement, income generated from its charitable activities predominantly, courses including the activities of the Nightingale Centre, and the Annual Meetings plus income from investments.
## **e. Future generations**
We are overwhelmed by the generosity of those who have left significant sums to the GA and Nightingale Centre as legacies, in gratitude for how the Unitarian and Free Christian movement has influenced their lives. These gifts allow us to invest in ensuring we are able to make the same kind of impact on future generations.
## **Statement of Trustees' responsibilities**
The Trustees are responsible for preparing the Trustees' 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 & 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 Group and the Charity and of their incoming resources and application of resources, including their income and expenditure, for that period. In preparing these financial statements, the Trustees are required to:
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles of the Charities SORP (FRS 102);
- make judgments and accounting estimates that are reasonable and prudent;
- state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any material departures disclosed and explained in the financial statements;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Group will continue in business.
The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Group and the Charity's transactions and disclose with reasonable accuracy at any time the financial position of the Group and 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. They are also responsible for safeguarding the assets of the Group and the Charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
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## **GENERAL ASSEMBLY OF UNITARIAN & FREE CHRISTIAN CHURCHES**
## **TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2022**
## **Disclosure of information to auditors**
Each of the persons who are Trustees at the time when this Trustees' report is approved has confirmed that:
- so far as that Trustee is aware, there is no relevant audit information of which the charitable group's auditors are unaware, and
- that Trustee has taken all the steps that ought to have been taken as a Trustee in order to be aware of any relevant audit information and to establish that the charitable group's auditors are aware of that information.
Approved by order of the members of the board of Trustees and signed on their behalf by:
................................................ ................................................ **Rev. Dr. R Whiteman Rev. J James** Trustee Trustee Date: 12 Dec 2023 19 Dec 2023
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**GENERAL ASSEMBLY OF UNITARIAN & FREE CHRISTIAN CHURCHES**
## **INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF GENERAL ASSEMBLY OF UNITARIAN & FREE CHRISTIAN CHURCHES**
## **Opinion**
We have audited the financial statements of General Assembly Of Unitarian & Free Christian Churches (the 'parent charity') and its subsidiaries (the 'group') for the year ended 30 September 2022 which comprise the consolidated statement of financial activities, the group and parent balance sheet, the group and parent 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 group's and of the parent charity's affairs as at 30 September 2022 and of the group's incoming resources and application of resources, including its income and expenditure 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 Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the group and parent charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council'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 group's or the parent 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.
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**GENERAL ASSEMBLY OF UNITARIAN & FREE CHRISTIAN CHURCHES**
## **INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF GENERAL ASSEMBLY OF UNITARIAN & FREE CHRISTIAN CHURCHES (CONTINUED)**
## **Other information**
The other information comprises the information included in the trustees annual report other than the financial statements and our auditors' report thereon. The trustees are responsible for the other information contained within the trustees annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, 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 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 where the Charities (Accounts and Reports) Regulations 2008 requires us to report to you if, in our opinion:
- the information given in the Trustees' report is inconsistent in any material respect with the financial statements; or
- the parent charity has not kept sufficient accounting records; or
- the parent charity financial statements are not in agreement with the accounting records and returns; or
- we have not received all the information and explanations we require for our audit.
## **Responsibilities of trustees**
As explained more fully in the trustees' responsibilities statement, 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 group's and the parent 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 liquidate the group or the parent charity or to cease operations, or have no realistic alternative but to do so.
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**GENERAL ASSEMBLY OF UNITARIAN & FREE CHRISTIAN CHURCHES**
## **INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF GENERAL ASSEMBLY OF UNITARIAN & FREE CHRISTIAN CHURCHES (CONTINUED)**
## **Auditors' responsibilities for the audit of the financial statements**
We have been appointed as auditor under section 151 of the Charities Act 2011 and report in accordance with regulations made under section 154 of that Act.
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 auditors' 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.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below.
1. At the planning stage of the audit we gain an understanding of the laws and regulations which apply to the parent charity and how the management seek to comply with those laws regulations. This helps us to plan appropriate risk assessments.
2. During the audit we focused on relevant risk areas and review the compliance with the laws and regulations by making relevant enquiries and undertaking corroboration, for example by reviewing minutes of meetings of those charged with governance.
3. We assessed the risk of material misstatement in the financial statements including as a result of fraud and undertook procedures including:
- a) Reviewing the controls set in place by management
- b) Making enquiries of management as to whether they consider fraud or other irregularity may have taken place, or where such opportunity might exist
- c) Challenging management assumptions with regard to accounting estimates
- d) Identifying and testing journal entries, particularly those which appear to be unusual by size or nature.
Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditors' report.
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**GENERAL ASSEMBLY OF UNITARIAN & FREE CHRISTIAN CHURCHES**
## **INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF GENERAL ASSEMBLY OF UNITARIAN & FREE CHRISTIAN CHURCHES (CONTINUED)**
## **Use of our report**
This report is made solely to the charity's trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charity's trustees those matters we are required to state to them in an auditors' 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 charity and its trustees, as a body, for our audit work, for this report, or for the opinions we have formed.
## Shaw Gibbs (Audit) Limited
**Shaw Gibbs (Audit) Limited** 264 Banbury Road Oxford OX2 7DY
Date: 19 Dec 2023
Shaw Gibbs (Audit) Limited are eligible to act as auditors in terms of section 1212 of the Companies Act 2006.
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**GENERAL ASSEMBLY OF UNITARIAN & FREE CHRISTIAN CHURCHES**
## **CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 30 SEPTEMBER 2022**
|Note
**Income and**
**endowments from:**
Donations and legacies
5
Charitable activities
6
Other trading activities
7
Investments
8
Other income
9
**Total income and**
**endowments**
**Expenditure on:**
Raising funds
10
Charitable activities
12
**Total expenditure**
**Net expenditure**
**before net**
**(losses)/gains on**
**investments**
Net (losses)/gains on
investments
**Net**
**(expenditure)/income**
Transfers between
funds
25
**Net movement in**
**funds**
**Reconciliation of**
**funds:**
Total funds brought
forward
Net movement in funds
**Total funds carried**
**forward**|Unrestricted
funds
2022
£
260,155
154,138
46,310
61,936
-
522,539
4,538
638,750
643,288
(120,749)
(167,289)
(288,038)
(242,376)
(530,414)
3,392,014
(530,414)
2,861,600|Restricted
funds
2022
£
190,042
264,681
29,410
118,499
1,875
604,507
-
647,965
647,965
(43,458)
(14,503)
(57,961)
242,376
184,415
6,242,266
184,415
6,426,681|Endowment
funds
2022
£
-
-
-
-
-
-
-
-
-
-
(52,381)
(52,381)
-
(52,381)
933,836
(52,381)
881,455|Total
funds
2022
£
450,197
418,819
75,720
180,435
1,875
1,127,046
4,538
1,286,715
1,291,253
(164,207)
(234,173)
(398,380)
-
(398,380)
10,568,116
(398,380)
10,169,736|_Total_
_funds_
_2021_
_£_
_395,169_
_132,582_
_84,936_
_166,864_
_109,372_
_888,923_
_44,151_
_1,039,839_
_1,083,990_
_(195,067)_
_1,226,117_
_1,031,050_
_-_
_1,031,050_
_9,537,066_
_1,031,050_
_10,568,116_|
|---|---|---|---|---|---|
All of the above results are derived from continuing activities.
The Consolidated Statement of Financial Activities includes all gains and losses recognised in the year. The notes on pages 17 to 46 form part of these financial statements.
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## **GENERAL ASSEMBLY OF UNITARIAN & FREE CHRISTIAN CHURCHES**
## **CONSOLIDATED BALANCE SHEET AS AT 30 SEPTEMBER 2022**
|||2022|2022|_2021_|_2021_|
|---|---|---|---|---|---|
||Note|£||_£_||
|**Fixed assets**||||||
|Tangible assets|17|1,239,720||_1,487,743_||
|Investments|18|6,423,446||_6,804,711_||
|Investment property|19|1,332,943||_1,185,852_||
|||8,996,109||_9,478,306_||
|**Current assets**||||||
|Stocks|20|2,420|_4,123_|||
|Debtors|21|235,479|_386,451_|||
|Investments|22|76,229|_-_|||
|Cash at bank and in hand||993,211|_883,385_|||
|||1,307,339|_1,273,959_|||
|Creditors: amounts falling due within one||||||
|year|23|(127,113)|_(145,719)_|||
|**Net current assets**||1,180,226||_1,128,240_||
|**Total assets less current liabilities**||10,176,335||_10,606,546_||
|Creditors: amounts falling due after more||||||
|than one year|24|(6,599)||_(38,430)_||
|**Net assets excluding pension asset**||10,169,736||_10,568,116_||
|**Total net assets**||10,169,736||_10,568,116_||
|**Charity funds**||||||
|Endowment funds|25|881,455||_933,836_||
|Restricted funds|25|6,426,681||_6,242,266_||
|Unrestricted funds|25|2,861,600||_3,392,014_||
|**Total funds**||10,169,736||_10,568,116_||
|The financial statements were approved and|authorised|for issue by the Trustees|and signed on their behalf by:|||
|................................................||................................................||||
|**Rev. J James**||**Rev. Dr. R Whiteman**||||
|Date:
19 Dec 2023||12 Dec 2023||||
The notes on pages 17 to 46 form part of these financial statements.
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## **GENERAL ASSEMBLY OF UNITARIAN & FREE CHRISTIAN CHURCHES**
## **CHARITY BALANCE SHEET AS AT 30 SEPTEMBER 2022**
|Note
**Fixed assets**
Tangible assets
17
Investments
18
Investment property
19
**Current assets**
Stocks
20
Debtors
21
Investments
22
Cash at bank and in hand
Creditors: amounts falling due within one
year
23
**Net current assets**
**Total assets less current liabilities**
Creditors: amounts falling due after more
than one year
24
**Net assets excluding pension asset**
**Total net assets**
**Charity funds**
Endowment funds
25
Restricted funds
25
Unrestricted funds
25
**Total funds**|1,475
193,030
76,229
371,246
641,980
(55,935)|2022
£
54,532
6,213,902
150,000
6,418,434
586,045
7,004,479
(6,599)
6,997,880
6,997,880
881,453
3,254,828
2,861,599
6,997,880|_3,194_
_355,325_
_-_
_273,445_
_631,964_
_(68,386)_|_2021_
_£_
_56,667_
_6,580,425_
_150,000_
_6,787,092_
_563,578_
_7,350,670_
_(38,430)_
_7,312,240_
_7,312,240_
_933,836_
_3,471,437_
_2,906,967_
_7,312,240_|
|---|---|---|---|---|
The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by: ................................................ ................................................ **Rev. J James Rev. Dr. R Whiteman**
Date: 19 Dec 2023
12 Dec 2023
The notes on pages 17 to 46 form part of these financial statements.
Page 14
**GENERAL ASSEMBLY OF UNITARIAN & FREE CHRISTIAN CHURCHES**
## **CONSOLIDATED STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 30 SEPTEMBER 2022**
|**Cash flows from operating activities**
Net cash used in operating activities
**Cash flows from investing activities**
Dividends, interests and rents from investments
Purchase of tangible fixed assets
Proceeds from sale of investments
**Net cash provided by investing activities**
**Cash flows from financing activities**
Repayments of borrowing
**Net cash provided by/(used in) financing activities**
**Change in cash and cash equivalents in the year**
Cash and cash equivalents at the beginning of the year
**Cash and cash equivalents at the end of the year**
The notes on pages 17 to 46 form part of these financial statements|2022
£
(70,609)
180,435
-
-
180,435
-
-
109,826
883,385
993,211|_2021_
_£_
_338,479_
_166,864_
_(1,460)_
_150,000_
315,404
_(150,000)_
(150,000)
503,883
_379,502_
_883,385_|
|---|---|---|
Page 15
**GENERAL ASSEMBLY OF UNITARIAN & FREE CHRISTIAN CHURCHES**
## **CHARITY STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 30 SEPTEMBER 2022**
|**Cash flows from operating activities**
Net cash used in operating activities
**Cash flows from investing activities**
Dividends, interests and rents from investments
Proceeds from the sale of tangible fixed assets
Proceeds from sale of investments
**Net cash provided by investing activities**
**Cash flows from financing activities**
Repayments of borrowing
**Net cash provided by/(used in) financing activities**
**Change in cash and cash equivalents in the year**
Cash and cash equivalents at the beginning of the year
**Cash and cash equivalents at the end of the year**
The notes on pages 17 to 46 form part of these financial statements|2022
£
(50,729)
148,530
-
-
148,530
-
-
97,801
273,445
371,246|_2021_
_£_
_(46,089)_
_135,935_
_(1,460)_
_150,000_
284,475
_(150,000)_
(150,000)
88,386
_185,059_
_273,445_|
|---|---|---|
Page 16
**GENERAL ASSEMBLY OF UNITARIAN & FREE CHRISTIAN CHURCHES**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2022**
## **1. General information**
The General Assembly of Unitarian and Free Christian Churches is an unincorporated charity. It is registered in England and Wales with charity registered number 250788. The principal address of the Charity is Essex Hall, 1-6 Essex Street, Strand, London, WC2R 3HY.
## **2. Accounting policies**
## **2.1 Basis of preparation of financial statements**
The financial statements have been prepared in accordance with the Charities SORP (FRS 102) - 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) (effective 1 January 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.
The financial statements have been prepared to give a 'true and fair' view and 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 Charities SORP (FRS 102) published in October 2019 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.
General Assembly Of Unitarian & Free Christian Churches meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.
The Consolidated statement of financial activities (SOFA) and Consolidated balance sheet consolidate the financial statements of the Charity and its subsidiary undertaking. The results of the subsidiary are consolidated on a line by line basis.
The consolidated financial sstatements incorporate financial statements of General Assembly of Unitarian and Free Christian Churches and The nightingale Centre (Unitarian) (charity no. 242256).
## **2.2 Going concern**
The consolidated financial statements have been prepared on the going concern basis which assumes that the charity will continue in opertational existence for the forseeable future. The Trustees have reviewed the working capital requirements of the group for a period of at least 12 months from the anticipated date of signing of the consolidated financial statements and are satisfied that the charity will be able to meet its liabilities as the fall due.
Page 17
**GENERAL ASSEMBLY OF UNITARIAN & FREE CHRISTIAN CHURCHES**
**NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2022**
## **2. Accounting policies (continued)**
## **2.3 Income**
All income is recognised once the Charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.
Receipt of a legacy must be recognised when it is probable that it will be received and the fair value of the amount receivable, which will generally be the expected cash amount to be distributed to the Charity, can be reliably measured..
Grants are included in the Consolidated statement of financial activities on a receivable basis. The balance of income received for specific purposes but not expended during the period is shown in the relevant funds on the Balance sheet. Where income is received in advance of entitlement of receipt, its recognition is deferred and included in creditors as deferred income. Where entitlement occurs before income is received, the income is accrued.
Gifts in kind are included at valuation and recognised as the cost is incurred.
On receipt, donated professional services and facilities are recognised on the basis of the value of the gift to the Charity which is the amount it would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market; a corresponding amount is then recognised in expenditure in the period of receipt.
Income tax recoverable in relation to investment income is recognised at the time the investment income is receivable.
Other income is recognised in the period in which it is receivable and to the extent the goods have been provided or on completion of the service.
## **2.4 Expenditure**
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use.
Expenditure on raising funds includes all expenditure incurred by the Group to raise funds for its charitable purposes and includes costs of all fundraising activities events and non-charitable trading.
Expenditure on charitable activities is incurred on directly undertaking the activities which further the Group's objectives, as well as any associated support costs.
Page 18
**GENERAL ASSEMBLY OF UNITARIAN & FREE CHRISTIAN CHURCHES**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2022**
## **2. Accounting policies (continued)**
## **2.4 Expenditure (continued)**
Grants payable are charged in the year when the offer is made except in those cases where the offer is conditional, such grants being recognised as expenditure when the conditions attaching are fulfilled. Grants offered subject to conditions which have not been met at the year end are noted as a commitment, but not accrued as expenditure.
. Approximately 50% of the full-time equivalent staff hours are spent on programme work. Accordingly total salary costs have been split equally between programme and support costs and management and administration costs
All expenditure is inclusive of irrecoverable VAT.
## **2.5 Government grants**
Government grants relating to tangible fixed assets are treated as deferred income and released to the Consolidated statement of financial activities over the expected useful lives of the assets concerned. Other grants are credited to the Consolidated statement of financial activities as the related expenditure is incurred.
.
Government grants include income received through the Coronavirus Job Retention Scheme.
## **2.6 Taxation**
The Charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the Charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.
## **2.7 Tangible fixed assets and depreciation**
Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be included in the measurement of cost.
Page 19
**GENERAL ASSEMBLY OF UNITARIAN & FREE CHRISTIAN CHURCHES**
**NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2022**
## **2. Accounting policies (continued)**
## **2.7 Tangible fixed assets and depreciation (continued)**
Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives, using the straight-line method.
Depreciation is provided on the following basis:
Furniture at General Assembly - 20% Straight line Computer equiment at General - 33% Straight line Assembly Software - 20% Straight line Property improvements at - 13% Straight line Nightingale Centre - Fixtures, fittings and equipment Fully depreciated at Nightingale Centre
Freehold land and leasehold property held jointly is not depreciated. The original value of the freehold property at the Nightingale Centre is not depreciated as it is considered that it is not worth less than its book value.
## **2.8 Investments**
Fixed asset investments are a form of financial instrument and are initially recognised at their transaction cost and subsequently measured at fair value at the Balance sheet date, unless the value cannot be measured reliably in which case it is measured at cost less impairment. Investment gains and losses, whether realised or unrealised, are combined and presented as ‘Gains/(Losses) on investments’ in the Consolidated statement of financial activities.
Investments in subsidiaries are valued at cost less provision for impairment.
## **2.9 Investment properties**
Investment properties are initially recognised at their transaction cost and subsequently measured at fair value. Gains are recognised in the Statement of Financial Activities. Investment gains and losses, whether realised or unrealised, are combined and shown in the heading 'Gain/(losses) on investments' in the Statement of Financial Activites.
## **2.10 Stocks**
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
## **2.11 Debtors**
Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
Page 20
**GENERAL ASSEMBLY OF UNITARIAN & FREE CHRISTIAN CHURCHES**
**NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2022**
## **2. Accounting policies (continued)**
## **2.12 Cash at bank and in hand**
Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
## **2.13 Liabilities and provisions**
Liabilities are recognised when there is an obligation at the Balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.
Liabilities are recognised at the amount that the Charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.
## **2.14 Financial instruments**
The Group only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.
## **2.15 Pensions**
The General Assembly operates pension plans available to all eligible employees. The assets of the schemes are held separately from those of the charity in independently administered funds. Pension costs charged in the Statement of Financial Activities represent the contributions payable by the General Assembly in the year. The schemes are defined benefit schemes however as it is not possible for the Charity to obtain sufficient information to enable it to account for the schemes as a defined benefit scheme, it accounts for the schemes as a defined contribution scheme. See note 28 for further details.
## **2.16 Fund accounting**
General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Group and which have not been designated for other purposes.
Designated funds comprise unrestricted funds that have been set aside by the Trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements.
Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the Group for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.
Investment income, gains and losses are allocated to the appropriate fund.
Page 21
**GENERAL ASSEMBLY OF UNITARIAN & FREE CHRISTIAN CHURCHES**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2022**
## **3. Critical accounting estimates and areas of judgment**
Estimates and judgments are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
## Critical accounting estimates and assumptions:
The Charity makes estimates and assumptions concerning the future. The resulting accounting estimates and assumptions will, by definition, seldom equal the related actual results. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are discussed below.
## Critical areas of judgment:
## Tangible fixed assets
Tangible fixed assets are depreciated over their useful lives taking into account residual values where appropriate. The actual lives of the assets and residual values are assessed annually and may vary depending on a number of factors. Residual value assessments consider issues such as the remaining life of the asset and projected disposal values.
## Investment properties
Investment properties were initially valued by external professional valuers. This valuation is assessed by the Trustees on an annual basis.
## **4. Intangible income**
The General Assembly receives accommodation and services free of charge from Essex Hall Trustees which would have to be paid if not provided for free (see note 5). The free accommodation was valued from 1 January 2018 by independent property experts at £111,000 per annum. This is still considered to be reasonable and in line with market conditions as at 30 September 2022.
## **5. Income from donations and legacies**
||Unrestricted|Restricted|Total|_Total_|
|---|---|---|---|---|
||funds|funds|funds|_funds_|
||2022|2022|2022|_2021_|
||£|£|£|_£_|
|**Donations and legacies**|||||
|Sundry donations|8,056|176,254|184,310|_12,805_|
|Legacies|11,693|-|11,693|_119,292_|
|Nightingale Centre|-|13,788|13,788|_18,284_|
|**Grants**|||||
|Essex Hall - grant|80,000|-|80,000|_80,000_|
|British & Foreign Unitarian Association|29,353|-|29,353|_27,693_|
Page 22
**GENERAL ASSEMBLY OF UNITARIAN & FREE CHRISTIAN CHURCHES**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2022**
## **5. Income from donations and legacies (continued)**
|**Similar incoming resources**
Association membership
Essex Hall - in kind
Contribution from related charities
**Subtotal detailed disclosure**
**Total 2022**
_Total 2021_|Unrestricted
funds
2022
£
14,823
111,000
5,230
260,155
260,155
_372,782_|Restricted
funds
2022
£
-
-
-
190,042
190,042
_22,387_|Total
funds
2022
£
14,823
111,000
5,230
450,197
450,197
_395,169_|_Total_
_funds_
_2021_
_£_
_18,995_
_111,000_
_7,100_|
|---|---|---|---|---|
|||||_395,169_|
||||||
|||||_395,169_|
||||||
## **6. Income from charitable activities**
|Local Leadership - Courses
Annual Meetings
Congregational Contributions
Nightingale Centre - Residents and visitors
**Total 2022**
_Total 2021_|Unrestricted
funds
2022
£
110
68,569
85,459
-
154,138
_85,089_|Restricted
funds
2022
£
-
-
-
264,681
264,681
_47,493_|Total
funds
2022
£
110
68,569
85,459
264,681
418,819
_132,582_|_Total_
_funds_
_2021_
_£_
_395_
_2,041_
_82,653_
_47,493_|
|---|---|---|---|---|
|||||_132,582_|
||||||
Page 23
**GENERAL ASSEMBLY OF UNITARIAN & FREE CHRISTIAN CHURCHES**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2022**
## **7. Income from other trading activities**
## **Income from non charitable trading activities**
|Sales of goods
Essex Hall - Cost sharing
Support services to Unitarian College
Nightingale Centre - Charges to residents and
visitors
**Total 2022**
_Total 2021_|Unrestricted
funds
2022
£
5,310
35,000
6,000
-
46,310
_42,866_|Restricted
funds
2022
£
-
-
-
29,410
29,410
_42,070_|Total
funds
2022
£
5,310
35,000
6,000
29,410
75,720
_84,936_|_Total_
_funds_
_2021_
_£_
_1,866_
_35,000_
_6,000_
_42,070_|
|---|---|---|---|---|
|||||_84,936_|
||||||
## **8. Investment income**
|Rent and ground rent
Dividends and bank interest
Nightingale Centre - Dividends and bank
interest
**Total 2022**
_Total 2021_|Unrestricted
funds
2022
£
28
61,908
-
61,936
_55,549_|Restricted
funds
2022
£
-
86,594
31,905
118,499
_111,315_|Total
funds
2022
£
28
148,502
31,905
180,435
_166,864_|_Total_
_funds_
_2021_
_£_
_31_
_135,904_
_30,929_|
|---|---|---|---|---|
|||||_166,864_|
||||||
Page 24
## **GENERAL ASSEMBLY OF UNITARIAN & FREE CHRISTIAN CHURCHES**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2022**
## **9. Other incoming resources**
|Nightingale Centre - Government grants
_Total 2021_|Restricted
funds
2022
£
1,875
_109,372_|Total
funds
2022
£
1,875
_109,372_|_Total_
_funds_
_2021_
_£_
_109,372_|
|---|---|---|---|
|||||
## **10. Raising funds**
|Investment management fees
Other fundrasing costs
**Total 2022**
_Total 2021_|Unrestricted
funds
2022
£
-
4,538
4,538
_17,245_|Restricted
funds
2022
£
-
-
-
_21,486_|Endowment
funds
2022
£
-
-
-
_5,420_|Total
funds
2022
£
-
4,538
4,538
_44,151_|_Total_
_funds_
_2021_
_£_
_40,062_
_4,089_|
|---|---|---|---|---|---|
||||||_44,151_|
|||||||
## **11. Analysis of grants**
|Grants to Organisations
Grants to individuals
**Total 2022**
_Total 2021_|Grants to
institutions
2022
£
56,026
-
56,026
_34,209_|Grants to
Individuals
2022
£
-
41,703
41,703
_95,824_|Total
funds
2022
£
56,026
41,703
97,729
_130,033_|_Total_
_funds_
_2021_
_£_
_34,209_
_95,824_|
|---|---|---|---|---|
|||||_130,033_|
||||||
The Group has made the following material grants to institutions during the year:
Page 25
**GENERAL ASSEMBLY OF UNITARIAN & FREE CHRISTIAN CHURCHES**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2022**
## **11. Analysis of grants (continued)**
|**Name of institution**
The Inquirer (from Unrestricted Fund)
Grants to Scottish congregations (from the James Speed Restricted Fund)
Grants to congregations (from the Sustentation Restricted Fund)
Grants to congregations (from the Congregational Development Restricted
Fund)
Grants to congregations (from the Small Initiatives Fund)
Grants to congregations (from the Appreciating Church Fund)
Grants to congregations (from Lay Pastors and Approved Lay Persons in
Charge Fund)
Red Cross (from Annual meeting - Ukraine Fund)
International Council of Unitarian Universalists (from the Unrestricted
Funds)
International Association for the Religious Freedom (from the Unrestricted
Funds)
Unitarian College (from Unrestricted fund)
**Total grants to instutions**|2022
£
5,500
27,903
15,417
-
-
-
-
5,406
-
-
1,800
56,026
56,026|_2021_
_£_
_5,500_
_7,100_
_15,600_
_2,040_
_602_
_115_
_550_
_-_
_1,702_
_1,000_
_-_|
|---|---|---|
|||_34,209_|
||||
|||_34,209_|
Page 26
**GENERAL ASSEMBLY OF UNITARIAN & FREE CHRISTIAN CHURCHES**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2022**
## **12. Analysis of expenditure on charitable activities**
## **Summary by fund type**
|Programme Activities
Committee Activities
Administration
Grants to organisations
Grants to individuals
Nightingale Centre - Residents and visitors
Nightingale Centre - Administration
**Total 2022**
_Total 2021_|Unrestricted
funds
2022
£
251,543
3,304
374,071
7,300
2,532
-
-
638,750
_597,256_|Restricted
funds
2022
£
2,040
-
-
48,726
39,171
556,723
1,305
647,965
_442,583_|Total
2022
£
253,583
3,304
374,071
56,026
41,703
556,723
1,305
1,286,715
_1,039,839_|_Total_
_2021_
_£_
_164,120_
_5,342_
_374,372_
_34,209_
_95,824_
_364,712_
_1,260_|
|---|---|---|---|---|
|||||_1,039,839_|
||||||
## **13. Analysis of expenditure by activities**
|Programme Activities
Committee Activities
Administration
Grants to UK organisations
Grants to individuals
Nightingale Centre - Residents
and visitors
Nightingale Centre -
Administration
**Total 2022**
_Total 2021_|Activities
undertaken
directly
2022
£
253,583
3,304
-
-
-
556,723
1,305
814,915
_535,434_|Grant
funding of
activities
2022
£
-
-
-
56,026
41,703
-
-
97,729
_130,033_|Support
costs
2022
£
-
-
374,071
-
-
-
-
374,071
_374,372_|Total
funds
2022
£
253,583
3,304
374,071
56,026
41,703
556,723
1,305
1,286,715
_1,039,839_|_Total_
_funds_
_2021_
_£_
_164,120_
_5,342_
_374,372_
_34,209_
_95,824_
_364,712_
_1,260_|
|---|---|---|---|---|---|
||||||_1,039,839_|
|||||||
Page 27
**GENERAL ASSEMBLY OF UNITARIAN & FREE CHRISTIAN CHURCHES**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2022**
## **13. Analysis of expenditure by activities (continued)**
## **Analysis of direct costs**
|Staff costs - Programme activities and Nightingale Centre
Programme activities - Welsh Programme
Programme activities - Youth Programme
Programme activities - Visibility Programme
Programme activities - Ministry Strategy Programme
Programme activities - Annual Meeting
Programme activities - Wedding Devlopment
Programme activities - Restricted fund costs
Programme activities - Designated fund costs
Programme activities - Summer School
Nightingale Centre - Resident and visitors (excluding staff costs)
Nightingale Centre - Administration
Committe Activities - Local Leadership
Committee activities - Ministry|Total
funds
2022
£
340,170
1,550
522
587
707
80,897
1,217
2,040
-
193
382,423
1,305
84
3,220
814,915|_Total_
_funds_
_2021_
_£_
_314,247_
_1,600_
_1,722_
_622_
_3,165_
_180_
_-_
_280_
_336_
_-_
_206,680_
_1,260_
_84_
_5,258_|
|---|---|---|
|||_535,434_|
## **Analysis of support costs**
||Total|_Total_|
|---|---|---|
||funds|_funds_|
||2022|_2021_|
||£|_£_|
|Staff costs|165,871|_156,214_|
|Executive committee expenses|14,134|_6,746_|
|Officers' travel and expenses|964|_642_|
|Office expenses|44,860|_40,013_|
|Staff training|134|_279_|
|Legal and professional fees|8,094|_4,284_|
|Rent|111,000|_111,000_|
|Insurance|4,136|_9,129_|
|Communications|540|_24,561_|
|Audit and consultancy|21,000|_21,504_|
Page 28
## **GENERAL ASSEMBLY OF UNITARIAN & FREE CHRISTIAN CHURCHES**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2022**
## **13. Analysis of expenditure by activities (continued)**
## **Analysis of support costs (continued)**
|Other|3,338
374,071|_-_|
|---|---|---|
|||_374,372_|
## **14. Auditors' remuneration**
||2022|_2021_|
|---|---|---|
||£|_£_|
|Fees payable to the Charity's auditor for the audit of the Charity's annual|||
|accounts (including VAT)|21,000|_15,000_|
|Fees payable to the Charity's auditor in respect of:|||
|Under accrual for prior year audit fees (including VAT)|-|_6,504_|
## **15. Staff costs**
|Wages and salaries
Social security costs
Contribution to defined contribution pension
schemes|Group
2022
£
477,357
33,368
(4,684)
506,041|_Group_
_2021_
_£_
_418,431_
_28,164_
_23,866_
_470,461_|Charity
2022
£
312,511
27,260
(8,030)
331,741|_Charity_
_2021_
_£_
_270,180_
_21,527_
_20,722_|
|---|---|---|---|---|
|||||_312,429_|
The average number of persons employed by the Charity during the year was as follows:
||Group|_Group_|Charity|_Charity_|
|---|---|---|---|---|
||2022|_2021_|2022|_2021_|
||No.|_No._|No.|_No._|
|Employees|27|_20_|12|_10_|
## Higher paid employees
No employee received remuneration amounting to more than £60,000 in the year.
Page 29
**GENERAL ASSEMBLY OF UNITARIAN & FREE CHRISTIAN CHURCHES**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2022**
## **16. Trustees' remuneration and expenses**
During the year, no Trustees received any remuneration or other benefits _(2021 - £NIL)_ .
Key management personnel comprise the trustees and senior management team. The total employment benefits of the key management personnel for the period under review were £66,563 (2021: £64,229)
During the year ended 30 September 2022, travel and subsistence expenses totalling _£_ 2,961 were reimbursed or paid directly to 8 Trustees _(2021 - £1,490 to 9 Trustees)_ .
Trustee Rev. Dr. R Whiteman is a minister for a Scottish congregation and the GA paid £16,802 (2021: £6,400) from the James Speed Trust fund as a contribution to his stipend. This fund is an endowment to pay Scottish congregational costs, including ministers' stipends.
## **17. Tangible fixed assets**
## **Group**
|**Cost or valuation**
At 1 October 2021
At 30 September 2022
**Depreciation**
At 1 October 2021
Charge for the year
Impairment charge
At 30 September 2022
**Net book value**
At 30 September 2022
_At 30 September 2021_|Freehold
property and
improvements
£
1,907,578
1,907,578
476,502
173,990
71,898
722,390
1,185,188
_1,431,076_|Leasehold
properties
held jointly
£
52,800
52,800
-
-
-
-
52,800
_52,800_|Equipment
including
computers
£
514,609
514,609
510,742
2,135
-
512,877
1,732
_3,867_|Total
£
2,474,987|
|---|---|---|---|---|
|||||2,474,987|
|||||987,244
176,125
71,898|
|||||1,235,267|
|||||1,239,720|
|||||_1,487,743_|
Page 30
**GENERAL ASSEMBLY OF UNITARIAN & FREE CHRISTIAN CHURCHES**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2022**
## **17. Tangible fixed assets (continued)**
## **Group (continued)**
The freehold property and improvements of the Nightingale Centre are vested in the British and Foreign Unitarian Association (Incorporated) as Custodian Trustees. The land and buildings were valued at £1,665,000 at 30 September 1999. For the purpose of capitalising the land and buildings the value of the building improvements amounting to £253,353 at 30 September 1999 were deducted from the overall valuation to arrive at the valuation of land and buildings of £1,411,647. This is represented by the Capital Fund.
.
During the year an impairment review was carried out on the asset ths The Nightingale Centre (Unitarian). A total of £71,898 was written off to the statement of financial activities in respect of assets that have incurred a reduction in their book value.
## **Charity**
|**Cost or valuation**
At 1 October 2021
At 30 September 2022
**Depreciation**
At 1 October 2021
Charge for the year
At 30 September 2022
**Net book value**
At 30 September 2022
_At 30 September 2021_|Long-term
leasehold
property
£
52,800
52,800
-
-
-
52,800
_52,800_|Computer
equipment
£
119,047
119,047
115,180
2,135
117,315
1,732
_3,867_|Total
£
171,847|
|---|---|---|---|
||||171,847|
||||115,180
2,135|
||||117,315|
||||54,532|
||||_56,667_|
Page 31
## **GENERAL ASSEMBLY OF UNITARIAN & FREE CHRISTIAN CHURCHES**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2022**
## **18. Fixed asset investments**
|**Group**
**Cost or valuation**
At 1 October 2021
Revaluations
At 30 September 2022
**Net book value**
At 30 September 2022
_At 30 September 2021_
**Charity**
**Cost or valuation**
At 1 October 2021
Revaluations
At 30 September 2022
**Net book value**
At 30 September 2022
_At 30 September 2021_|Investments
in subsidiary
companies
£
1
-
1
1
_1_
Investments
in subsidiary
companies
£
1
-
1
1
_1_|Listed
investments
£
6,804,711
(381,266)
6,423,445
6,423,445
_6,804,711_
Listed
investments
£
6,580,425
(366,524)
6,213,901
6,213,901
_6,580,425_|Total
£
6,804,712
(381,266)
6,423,446
6,423,446
_6,804,712_
Total
£
6,580,426
(366,524)
6,213,902
6,213,902
_6,580,426_|
|---|---|---|---|
Page 32
**GENERAL ASSEMBLY OF UNITARIAN & FREE CHRISTIAN CHURCHES**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2022**
## **19. Investment property**
## **Group**
|**Valuation**
At 1 October 2021
Surplus on revaluation
At 30 September 2022|Freehold
investment
property
£
150,000
-
150,000|Long term
leasehold
investment
property
£
1,035,852
147,091
1,182,943|Total
£
1,185,852
147,091|
|---|---|---|---|
||||1,332,943|
## **Charity**
|**Valuation**
At 1 October 2021
At 30 September 2022|Freehold
investment
property
£
150,000|
|---|---|
||150,000|
The freehold land was revalued by the Trustees as at 30 September 2016 on an open market value basis having taken independent professional advice. The freehold properties in the group were revalued by professional valuers Eadon, Lockwood & Riddle as at 30 September 2019 on an open market value basis. As at 30 September 2022 the Trustees have reviewed the valuations and made adjustments to reflect current market value.
## **20. Stocks**
||Group|_Group_|Charity|_Charity_|
|---|---|---|---|---|
||2022|_2021_|2022|_2021_|
||£|_£_|£|_£_|
|Goods for resale|2,420|_4,123_|1,475|_3,194_|
Page 33
## **GENERAL ASSEMBLY OF UNITARIAN & FREE CHRISTIAN CHURCHES**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2022**
## **21. Debtors**
|**Due within one year**
Trade debtors
Other debtors
Prepayments and accrued income|Group
2022
£
31,883
9,032
194,564
235,479|_Group_
_2021_
_£_
_21,840_
_13,146_
_351,465_
_386,451_|Charity
2022
£
19,433
9,033
164,564
193,030|_Charity_
_2021_
_£_
_20,713_
_13,147_
_321,465_|
|---|---|---|---|---|
||||||
|||||_355,325_|
## **22. Current asset investments**
|Group
2022
£
Listed investments
76,229
**23.**
**Creditors: Amounts falling due within one year**
Group
2022
£
Trade creditors
7,061
Other taxation and social security
25,348
Pension liability
5,560
Other creditors
55,368
Accruals and deferred income
33,776
127,113
**24.**
**Creditors: Amounts falling due after more than one year**
Group
2022
£
Pension liability
6,599|_Group_
_2021_
_£_
_-_
_Group_
_2021_
_£_
_9,100_
_21,484_
_15,879_
_70,342_
_28,914_
_145,719_
_Group_
_2021_
_£_
_38,430_|Charity
2022
£
76,229
Charity
2022
£
6,359
7,839
5,560
2,401
33,776
55,935
Charity
2022
£
6,599|_Charity_
_2021_
_£_
_-_|
|---|---|---|---|
||||_Charity_
_2021_
_£_
_7,683_
_4,533_
_15,879_
_11,377_
_28,914_|
|||||
||||_68,386_|
||||_Charity_
_2021_
_£_
_38,430_|
Page 34
**GENERAL ASSEMBLY OF UNITARIAN & FREE CHRISTIAN CHURCHES**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2022**
## **25. Statement of funds**
## **Statement of funds - current year**
|**Unrestricted**
**funds**
**Designated**
**funds**
Retired Ministers
Housing Fund
Annual Meetings
Fund
Benevolent
Fund
Leaflets Fund
HAW Fairey
Specific Bequest
Sexual
Orientation
Equality Group
Small Initiatives
Fund
Mark James
Legacy
Mark James
Legacy -
Nightingale
Centre
**General funds**
General Funds -
all funds
**Total**
**Unrestricted**
**funds**|Balance at 1
October
2021
£
141,822
10,000
5,557
230
2,179
846
2,078
328,000
400,000
890,712
2,501,302
3,392,014|Income
£
3,023
-
-
-
-
-
-
-
-
3,023
519,516
522,539|Expenditure
£
(732)
(3,214)
(1,800)
(230)
-
-
(1,006)
-
-
(6,982)
(636,306)
(643,288)|Transfers
in/(out)
£
-
-
-
-
(2,179)
-
-
-
(400,000)
(402,179)
159,803
(242,376)|Gains/
(Losses)
£
-
-
-
-
-
-
-
-
-
-
(167,289)
(167,289)|Balance at
30
September
2022
£
144,113
6,786
3,757
-
-
846
1,072
328,000
-|
|---|---|---|---|---|---|---|
|||||||484,574|
|||||||2,377,026|
|||||||2,861,600|
Page 35
## **GENERAL ASSEMBLY OF UNITARIAN & FREE CHRISTIAN CHURCHES**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2022**
## **25. Statement of funds (continued)**
|**Endowment**
**funds**
James Speed
Trust
Arnold Graves
Fund
Lewis Edwards
Fund
**Restricted**
**funds**
Ministerial
Students Fund
Congregational
Development
Fund
Chalice Fund
Sunday School
Fund
Beardy Weirdy
Youth Fund
India Fund
Humphreys
Winder Legacy
Trevor Jones
Youth Fund
Summer School
Bursary
Lindsey Press
Rosenberg
Travel Fund
Growth and
Sustainability
Fund
James Speed
Trust|Balance at 1
October
2021
£
925,305
6,637
1,894
933,836
50,726
54,401
8,481
32,713
17,480
27,119
7,292
10,031
3,393
5,704
7,527
1,630,068
53,424|Income
£
-
-
-
-
169,451
-
-
45
260
1,092
-
-
-
-
-
30,502
19,721|Expenditure
£
-
-
-
-
(22,369)
-
-
-
-
-
-
-
-
-
-
-
(44,705)|Transfers
in/(out)
£
-
-
-
-
-
(14,354)
-
-
-
-
-
-
-
-
-
(138,379)
(986)|Gains/
(Losses)
£
(52,381)
-
-
(52,381)
-
-
-
-
-
-
-
-
-
-
-
(81,016)
-|Balance at
30
September
2022
£
872,924
6,637
1,894|
|---|---|---|---|---|---|---|
|||||||881,455|
|||||||197,808
40,047
8,481
32,758
17,740
28,211
7,292
10,031
3,393
5,704
7,527
1,441,175
27,454|
Page 36
**GENERAL ASSEMBLY OF UNITARIAN & FREE CHRISTIAN CHURCHES**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2022**
## **25. Statement of funds (continued)**
## **Statement of funds - current year (continued)**
|Gabor Kereki
Trust
Sustentation
Fund
Lay Pastors and
Approved Lay
Persons in
Charge
Other
Millenium Fund
Nightingale
Centre
Mark James
Legacy -
Nightingale
Centre
Annual meeting
- Ukraine fund
**Total of funds**|Balance at 1
October
2021
£
886,348
610,053
33,015
19,165
13,894
2,771,432
-
-
6,242,266
10,568,116|Income
£
17,882
17,866
623
-
-
341,659
-
5,406
604,507
1,127,046|Expenditure
£
-
(15,417)
-
(2,040)
-
(558,028)
-
(5,406)
(647,965)
(1,291,253)|Transfers
in/out
£
(894)
(918)
(31)
(2,062)
-
-
400,000
-
242,376
-|Gains/
(Losses)
£
(47,497)
(16,074)
(2,265)
-
-
132,349
-
-
(14,503)
(234,173)|Balance at
30
September
2022
£
855,839
595,510
31,342
15,063
13,894
2,687,412
400,000
-|
|---|---|---|---|---|---|---|
|||||||6,426,681|
|||||||10,169,736|
Page 37
**GENERAL ASSEMBLY OF UNITARIAN & FREE CHRISTIAN CHURCHES**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2022**
## **25. Statement of funds (continued)**
## **Statement of funds - prior year**
|**Unrestricted**
**funds**
**Designated**
**funds**
Retired Ministers
Housing Fund
Annual Meetings
Fund
Benevolent
Fund
Leaflets Fund
HAW Fairey
Specific Bequest
Sexual
Orientation
Equality Group
Small Initiatives
Fund
Mark James
Legacy
Mark James
Legacy -
Nightingale
Centre
**General funds**
General Funds -
all funds
**Total**
**Unrestricted**
**funds**|_Balance at_
_1 October_
_2020_
_£_
_139,518_
_10,000_
_5,557_
_230_
_2,179_
_846_
_2,680_
_400,000_
_400,000_
_961,010_
_2,027,613_
_2,988,623_|_Income_
_£_
_2,640_
_-_
_-_
_-_
_-_
_-_
_-_
_(27,000)_
_-_
_(24,360)_
_580,646_
_556,286_|_Expenditure_
_£_
_(336)_
_-_
_-_
_-_
_-_
_-_
_(602)_
_(45,000)_
_-_
_(45,938)_
_(568,563)_
_(614,501)_|_Transfers_
_in/out_
_£_
_-_
_-_
_-_
_-_
_-_
_-_
_-_
_-_
_-_
_-_
_9,021_
_9,021_|_Gains/_
_(Losses)_
_£_
_-_
_-_
_-_
_-_
_-_
_-_
_-_
_-_
_-_
_-_
_452,585_
_452,585_|_Balance at_
_30_
_September_
_2021_
_£_
_141,822_
_10,000_
_5,557_
_230_
_2,179_
_846_
_2,078_
_328,000_
_400,000_|
|---|---|---|---|---|---|---|
|||||||_890,712_|
|||||||_2,501,302_|
|||||||_3,392,014_|
Page 38
**GENERAL ASSEMBLY OF UNITARIAN & FREE CHRISTIAN CHURCHES**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2022**
## **25. Statement of funds (continued)**
|**Endowment**
**funds**
James Speed
Trust
Millenium Fund
Arnold Graves
Fund
Lewis Edwards
Fund
**Restricted**
**funds**
Ministerial
Students Fund
Congregational
Development
Fund
Chalice Fund
Sunday School
Fund
Beardy Weirdy
Youth Fund
India Fund
Humphreys
Winder Legacy
Trevor Jones
Youth Fund
Summer School
Bursary
Lindsey Press
Rosenberg
Travel Fund
Growth and
Sustainability
Fund
James Speed
Trust|_Balance at_
_1 October_
_2020_
_£_
_783,572_
_13,894_
_6,637_
_1,894_
_805,997_
_91,800_
_61,441_
_8,481_
_32,668_
_17,285_
_27,085_
_7,292_
_10,031_
_3,393_
_5,704_
_7,527_
_1,358,255_
_50,109_|_Income_
_£_
_-_
_-_
_-_
_-_
_-_
_2,700_
_-_
_-_
_45_
_195_
_314_
_-_
_-_
_-_
_-_
_-_
_29,335_
_17,700_|_Expenditure_
_£_
_(5,420)_
_-_
_-_
_-_
_(5,420)_
_(43,774)_
_(2,040)_
_-_
_-_
_-_
_(280)_
_-_
_-_
_-_
_-_
_-_
_(9,329)_
_(13,500)_|_Transfers_
_in/out_
_£_
_-_
_(13,894)_
_-_
_-_
_(13,894)_
_-_
_(5,000)_
_-_
_-_
_-_
_-_
_-_
_-_
_-_
_-_
_-_
_(1,467)_
_(885)_|_Gains/_
_(Losses)_
_£_
_147,153_
_-_
_-_
_-_
_147,153_
_-_
_-_
_-_
_-_
_-_
_-_
_-_
_-_
_-_
_-_
_-_
_253,274_
_-_|_Balance at_
_30_
_September_
_2021_
_£_
_925,305_
_-_
_6,637_
_1,894_|
|---|---|---|---|---|---|---|
|||||||_933,836_|
|||||||_50,726_
_54,401_
_8,481_
_32,713_
_17,480_
_27,119_
_7,292_
_10,031_
_3,393_
_5,704_
_7,527_
_1,630,068_
_53,424_|
Page 39
**GENERAL ASSEMBLY OF UNITARIAN & FREE CHRISTIAN CHURCHES**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2022**
## **25. Statement of funds (continued)**
## **Statement of funds - prior year (continued)**
|Gabor Kereki
Trust
Sustentation
Fund
Lay Pastors and
Approved Lay
Persons in
Charge
Other
Millenium Fund
Nightingale
Centre
**Total of funds**|_Balance at_
_1 October_
_2020_
_£_
_742,582_
_514,094_
_28,748_
_22,174_
_-_
_2,753,776_
_5,742,445_
_9,537,065_|_Income_
_£_
_16,050_
_16,751_
_550_
_850_
_-_
_248,148_
_332,638_
_888,924_|_Expenditure_
_£_
_(4,914)_
_(19,662)_
_(738)_
_(3,859)_
_-_
_(365,973)_
_(464,069)_
_(1,083,990)_|_Transfers_
_in/out_
_£_
_(803)_
_(838)_
_(28)_
_-_
_13,894_
_-_
_4,873_
_-_|_Gains/_
_(Losses)_
_£_
_133,433_
_99,708_
_4,483_
_-_
_-_
_135,481_
_626,379_
_1,226,117_|_Balance at_
_30_
_September_
_2021_
_£_
_886,348_
_610,053_
_33,015_
_19,165_
_13,894_
_2,771,432_|
|---|---|---|---|---|---|---|
|||||||_6,242,266_|
|||||||_10,568,116_|
## **26. Summary of funds**
**Summary of funds - current year**
|Designated
funds
General funds
Endowment
funds
Restricted funds|Balance at 1
October
2021
£
890,712
2,501,302
933,836
6,242,266
10,568,116|Income
£
3,023
519,516
-
604,507
1,127,046|Expenditure
£
(6,982)
(636,306)
-
(647,965)
(1,291,253)|Transfers
in/out
£
(402,179)
159,803
-
242,376
-|Gains/
(Losses)
£
-
(167,289)
(52,381)
(14,503)
(234,173)|Balance at
30
September
2022
£
484,574
2,377,026
881,455
6,426,681|
|---|---|---|---|---|---|---|
|||||||10,169,736|
Page 40
**GENERAL ASSEMBLY OF UNITARIAN & FREE CHRISTIAN CHURCHES**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2022**
## **26. Summary of funds (continued)**
## **Summary of funds - prior year**
|Designated
funds
General funds
Endowment
funds
Restricted funds|_Balance at_
_1 October_
_2020_
_£_
_961,010_
_2,027,613_
_805,997_
_5,742,445_
_9,537,065_|_Income_
_£_
_(24,360)_
_580,646_
_-_
_332,638_
_888,924_|_Expenditure_
_£_
_(45,938)_
_(568,563)_
_(5,420)_
_(464,069)_
_(1,083,990)_|_Transfers_
_in/out_
_£_
_-_
_9,021_
_(13,894)_
_4,873_
_-_|_Gains/_
_(Losses)_
_£_
_-_
_452,585_
_147,153_
_626,379_
_1,226,117_|_Balance at_
_30_
_September_
_2021_
_£_
_890,712_
_2,501,302_
_933,836_
_6,242,266_|
|---|---|---|---|---|---|---|
|||||||_10,568,116_|
## **27. Analysis of net assets between funds Analysis of net assets between funds - current year**
|Tangible fixed assets
Fixed asset investments
Investment property
Current assets
Creditors due within one year
Creditors due in more than one year
**Total**|Unrestricted
funds
2022
£
54,532
2,536,954
150,000
182,648
(55,935)
(6,599)
2,861,600|Restricted
funds
2022
£
1,185,188
3,035,476
1,182,943
1,094,252
(71,178)
-
6,426,681|Endowment
funds
2022
£
-
851,016
-
30,439
-
-
881,455|Total
funds
2022
£
1,239,720
6,423,446
1,332,943
1,307,339
(127,113)
(6,599)|
|---|---|---|---|---|
|||||10,169,736|
Page 41
**GENERAL ASSEMBLY OF UNITARIAN & FREE CHRISTIAN CHURCHES**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2022**
## **27. Analysis of net assets between funds (continued)**
## **Analysis of net assets between funds - prior year**
|Tangible fixed assets
Fixed asset investments
Investment property
Current assets
Creditors due within one year
Creditors due in more than one year
**Total**|_Unrestricted_
_funds_
_2021_
_£_
_56,667_
_2,694,638_
_150,000_
_597,525_
_(68,386)_
_(38,430)_
_3,392,014_|_Restricted_
_funds_
_2021_
_£_
_1,431,076_
_3,206,676_
_1,035,852_
_645,995_
_(77,333)_
_-_
_6,242,266_|_Endowment_
_funds_
_2021_
_£_
_-_
_903,397_
_-_
_30,439_
_-_
_-_
_933,836_|_Total_
_funds_
_2021_
_£_
_1,487,743_
_6,804,711_
_1,185,852_
_1,273,959_
_(145,719)_
_(38,430)_
_10,568,116_|
|---|---|---|---|---|
## **28. Reconciliation of net movement in funds to net cash flow from operating activities**
|Net income/expenditure for the year (as per
Statement of Financial Activities)
**Adjustments for:**
Depreciation charges
Gains/(losses) on investments
Dividends, interests and rents from
investments
Decrease in stocks
Decrease in debtors
Decrease in creditors
Difference between pension charge and cash
contributions
Investment management fee
**Net cash provided by/(used in) operating**
**activities**|Group
2022
£
(398,380)
248,023
234,173
(180,435)
1,703
74,744
(50,487)
50
-
(70,609)|_Group_
_2021_
_£_
_1,031,050_
_147,950_
_(1,226,117)_
_(166,864)_
_4,587_
_517,088_
_(9,277)_
_-_
_40,062_
_338,479_|Charity
2022
£
(314,360)
2,135
366,522
(148,530)
1,719
86,067
(44,332)
50
-
(50,729)|_Charity_
_2021_
_£_
_1,013,394_
_3,074_
_(1,090,034)_
_(135,935)_
_5,102_
_138,827_
_(19,977)_
_-_
_40,062_
_(45,487)_|
|---|---|---|---|---|
Page 42
**GENERAL ASSEMBLY OF UNITARIAN & FREE CHRISTIAN CHURCHES**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2022**
## **29. Analysis of cash and cash equivalents**
|Cash in hand
**Total cash and cash equivalents**|Group
2022
£
993,211
993,211|_Group_
_2021_
_£_
_883,385_
_883,385_|Charity
2022
£
371,246
371,246|_Charity_
_2021_
_£_
_273,445_|
|---|---|---|---|---|
||||||
|||||_273,445_|
## **30. Analysis of changes in net debt**
|Cash at bank and in hand
Debt due within 1 year
Liquid investments|At 1 October
2021
£
883,385
(15,879)
-
867,506|Cash flows
£
109,826
-
-
109,826|Other non-
cash
changes
£
-
10,319
76,229
86,548|At 30
September
2022
£
993,211
(5,560
76,229|
|---|---|---|---|---|
|||||1,063,880|
## **31. Pension commitments**
The Group operates a defined benefit pension scheme.
## **General Assembly Staff**
The Charity participates in the scheme, a multi-employer scheme (The TPT Retirement Solutions - The Gowth Plan) which provides benefits to some 950 non-associated participating employers. The scheme is a defined benefit scheme in the UK. It is not possible for the Charity to obtain sufficient information to enable it to account for the scheme as a defined benefit scheme. Therefore it accounts for the scheme as a defined contribution scheme.
The scheme is subject to the funding legislation outlined in the Pensions Act 2004 which came into force on 30 December 2005.
This, together with documents issued by the Pensions Regulator and Technical Actuarial Standards issued by the Financial Reporting Council, set out the framework for funding defined benefit occupational pension schemes in the UK.
The scheme is classified as a 'last-man standing arrangement'. Therefore the Charity is potentially liable for other participating employers' obligations if those employers are unable to meet their share of the scheme deficit following withdrawal from the scheme. Participating employers are legally required to meet their share of the scheme deficit on an annuity purchase basis on withdrawal from the scheme.
A full actuarial valuation for the scheme was carried out at 30 September 2020. This valuation showed assets of £800.3m, liabilities of £831.9m and a deficit of £31.6m. To eliminate this funding shortfall, the
Page 43
**GENERAL ASSEMBLY OF UNITARIAN & FREE CHRISTIAN CHURCHES**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2022**
## **31. Pension commitments (continued)**
Trustee has asked the participating employers to pay additional contributions to the scheme as follows:
From 1 April 2022 to 31 January 2025: £3,312,000 per annum (payable monthly) .
Unless a concession has been agreed with the Trustee the term to 31 January 2025 applies.
Note that the scheme’s previous valuation was carried out with an effective date of 30 September 2017. This valuation showed assets of £794.9m, liabilities of £926.4m and a deficit of £131.5m. To eliminate this funding shortfall, the Trustee has asked the participating employers to pay additional contributions to the scheme as follows:
From 1 April 2019 to 30 September 2025: £11,243,000 per annum (payable monthly and increasing by 3% each on 1 April).
The recovery plan contributions are allocated to each participating employer in line with their estimated share of the Series 1 and Series 2 scheme liabilities.
Where the scheme is in deficit and where the Charity has agreed to a deficit funding arrangement the company recognises a liability for this obligation. The amount recognised is the net present value of the deficit reduction contributions payable under the agreement that relates to the deficit. The present value is calculated using the discount rate detailed in these disclosures. The unwinding of the discount rate is recognised as a finance cost.
Principal actuarial assumptions at the Balance sheet date (expressed as weighted averages):
||At 30|_At 30_|
|---|---|---|
||September|_September_|
||2022|_2021_|
||%|_%_|
|Discount rate|6|_0.66_|
## **PRESENT VALUE OF PROVISIONS**
|Due in less than 1 year
Due in more than 1 year|At 30
September
2022
£
5,560
6,599
12,159|_At 30_
_September_
_2021_
_£_
_15,879_
_38,480_|
|---|---|---|
||||
|||_54,359_|
Page 44
**GENERAL ASSEMBLY OF UNITARIAN & FREE CHRISTIAN CHURCHES**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2022**
## **31. Pension commitments (continued)**
## **INCOME AND EXPENDITURE IMPACT**
|Interest cost
Remeasurements - impact of any changes in assumptions
**Total amount recognised in the Consolidated Statement of Financial**
**Activities**|2022
£
355
(32,191)
(31,836)|_2021_
_£_
_1,662_
_248_|
|---|---|---|
||||
|||_1,910_|
## **RECONCILIATION OF OPENING AND CLOSING PROVISIONS**
|Opening defined benefit obligation
Deficit contribution paid
Unwinding of the discount factor (interest expense)
Remeasurements - impact of any changes in assumptions
Remeasurements - amendments to contribution scheme
**Provision at end of period**|2022
£
54,359
(10,364)
355
(710)
(31,481)
12,159|_2021_
_£_
_67,789_
_-_
_1,662_
_(15,340)_
_248_|
|---|---|---|
||||
|||_54,359_|
General Assembly staff who are also Ministers
Ministers who have worked for the General Assembly are members of the Ministers' Pension Fund which is a defined benefit plan. There are currently two members of staff in this category. The assets of the scheme are held separately from those of the Charity and are administered by the Ministers' Pension Fund managers Jardine Lloyd Thompson.
We have not identified any direct liability, however the General Assembly are the overall guarantors for the scheme. The last actuarial valuation of the Ministers Pension Fund was at 31 December 2019 and showed a valuation of £(379,000) (31 December 2016: £559,000). The next actuarial valuation will be carried out as at 31 December 2022.
## **32. Related party transactions**
During the year Trustees gave donations to the charity totalling £nil (2021: £960).
Trustee Marion Baker is also a Trustee of Unitarian College. During the year Unitarian College paid General Assembly £6,000 (2021: £6,000) for administration and support services and General Assembly donated funds of £nil (2021: £45,000).
Page 45
## **GENERAL ASSEMBLY OF UNITARIAN & FREE CHRISTIAN CHURCHES**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2022**
## **33. Controlling party**
The ultimate controlling party is that of the trustees as detailed on the Trustees' report.
## **34. Principal subsidiaries**
The following was a subsidiary undertaking of the Charity:
**Name Charity Registered office or principal Included in registration place of business consolidation number** The Nightingale Centre 242256 The Nightingale Centre, Great Yes Hucklow, Buxton, Derbyshire, SK17 8RH
The financial results of the subsidiary for the year were:
|**Name**|Income|Expenditure|Surplus/|Net assets|
|---|---|---|---|---|
||£|£|(Deficit) for|£|
||||the year||
||||£||
|The Nightingale Centre|341,659|558,028|(84,020)|3,171,857|
Page 46
**Issuer** Shaw Gibbs **Document generated** Mon, 11th Dec 2023 11:37:33 UTC **Document fingerprint** b5daee95e554d94346b7d024b688b8d5
## **Parties involved with this document**
## **Document processed**
## **Party + Fingerprint**
Tue, 12th Dec 2023 10:00:46 UTC Tue, 19th Dec 2023 11:00:47 UTC Tue, 19th Dec 2023 11:29:18 UTC
Rob Whiteman - Signer (afb7a534db17fa4668c87a35275dec01) Jo James - Signer (d7a0d6883dd851ab6bf901012c927ee8) Samantha Daniels - Signer (f0af9e06de0c1c42f883665a49def281)
## **Audit history log**
## **Date**
## **Action**
Tue, 19th Dec 2023 11:29:18 UTC Tue, 19th Dec 2023 11:29:18 UTC Tue, 19th Dec 2023 11:29:18 UTC Tue, 19th Dec 2023 11:28:31 UTC Tue, 19th Dec 2023 11:01:04 UTC Tue, 19th Dec 2023 11:00:50 UTC Tue, 19th Dec 2023 11:00:48 UTC Tue, 19th Dec 2023 11:00:47 UTC
Tue, 19th Dec 2023 11:00:47 UTC Tue, 19th Dec 2023 10:57:29 UTC Tue, 19th Dec 2023 10:57:09 UTC Tue, 12th Dec 2023 10:02:50 UTC Tue, 12th Dec 2023 10:02:27 UTC Tue, 12th Dec 2023 10:02:08 UTC Tue, 12th Dec 2023 10:02:07 UTC Tue, 12th Dec 2023 10:02:06 UTC Tue, 12th Dec 2023 10:01:50 UTC Tue, 12th Dec 2023 10:01:49 UTC Tue, 12th Dec 2023 10:01:23 UTC
Samantha Daniels viewed the envelope (89.197.20.206) This envelope has been signed by all parties (89.197.20.206) Samantha Daniels signed the envelope (89.197.20.206) Samantha Daniels viewed the envelope (89.197.20.206) Samantha Daniels opened the document email. (20.254.157.196) Document emailed to samantha.daniels@shawgibbs.com (3.10.52.147) Jo James viewed the envelope (81.159.22.84) Sent the envelope to Samantha Daniels (samantha.daniels@shawgibbs.com) for signing (81.159.22.84) Jo James signed the envelope (81.159.22.84) Jo James viewed the envelope (81.159.22.84) Jo James opened the document email. (66.249.93.200) Rob Whiteman opened the document email. (66.249.93.36) Rob Whiteman opened the document email. (66.249.93.44) Rob Whiteman opened the document email. (66.249.93.37) Rob Whiteman opened the document email. (66.249.93.43) Rob Whiteman opened the document email. (66.249.93.37) Rob Whiteman opened the document email. (66.249.93.37) Rob Whiteman opened the document email. (66.249.93.36) Rob Whiteman opened the document email. (66.249.93.35)
Tue, 12th Dec 2023 10:01:22 UTC Tue, 12th Dec 2023 10:01:15 UTC Tue, 12th Dec 2023 10:01:01 UTC Tue, 12th Dec 2023 10:00:56 UTC Tue, 12th Dec 2023 10:00:49 UTC Tue, 12th Dec 2023 10:00:47 UTC Tue, 12th Dec 2023 10:00:46 UTC
Tue, 12th Dec 2023 10:01:22 UTC Rob Whiteman opened the document email. (66.249.93.45) Tue, 12th Dec 2023 10:01:15 UTC Rob Whiteman opened the document email. (66.249.93.45) Tue, 12th Dec 2023 10:01:01 UTC Rob Whiteman viewed the envelope (41.33.148.17) Tue, 12th Dec 2023 10:00:56 UTC Jo James opened the document email. (74.125.218.233) Tue, 12th Dec 2023 10:00:49 UTC Document emailed to minister@millhillchapel.org (18.130.78.93) Tue, 12th Dec 2023 10:00:47 UTC Rob Whiteman viewed the envelope (41.33.148.17) Tue, 12th Dec 2023 10:00:46 UTC Sent the envelope to Jo James (minister@millhillchapel.org) for signing (41.33.148.17) Tue, 12th Dec 2023 10:00:46 UTC Rob Whiteman signed the envelope (41.33.148.17) Tue, 12th Dec 2023 9:57:20 UTC Rob Whiteman viewed the envelope (41.33.148.17) Tue, 12th Dec 2023 9:55:48 UTC Rob Whiteman opened the document email. (66.249.93.45) Tue, 12th Dec 2023 9:50:34 UTC Rob Whiteman opened the document email. (66.249.93.44) Mon, 11th Dec 2023 20:51:08 UTC Rob Whiteman opened the document email. (66.249.93.39) Mon, 11th Dec 2023 20:03:52 UTC Rob Whiteman opened the document email. (66.249.93.37) Mon, 11th Dec 2023 12:07:01 UTC Rob Whiteman opened the document email. (66.249.93.96) Mon, 11th Dec 2023 11:58:53 UTC Document emailed to rbwhiteman@gmail.com (18.134.144.20) Mon, 11th Dec 2023 11:58:51 UTC Sent the envelope to Rob Whiteman (rbwhiteman@gmail.com) for signing (89.197.20.206) Mon, 11th Dec 2023 11:50:28 UTC Samantha Daniels has been assigned to this envelope (89.197.20.206) Mon, 11th Dec 2023 11:50:28 UTC Jo James has been assigned to this envelope (89.197.20.206) Mon, 11th Dec 2023 11:50:28 UTC Rob Whiteman has been assigned to this envelope (89.197.20.206) Mon, 11th Dec 2023 11:38:12 UTC Document generated with fingerprint e58cf29ae3aaa68e0f51125e4a8dbbee (89.197.20.206) Mon, 11th Dec 2023 11:38:09 UTC Document generated with fingerprint f8dea532cb0aa97e7dc681b31e310256 (89.197.20.206) Mon, 11th Dec 2023 11:38:05 UTC Document generated with fingerprint 0164f46e27507559b8f0fe2e6e5d2e67 (89.197.20.206) Mon, 11th Dec 2023 11:37:55 UTC Document generated with fingerprint b5daee95e554d94346b7d024b688b8d5 (89.197.20.206) Mon, 11th Dec 2023 11:37:33 UTC Envelope generated by Abby Potter (89.197.20.206)