CHURCH URBAN FUNDttr CHANGING LIVES AND COMMUNITIES TOGETHER TRUSTEES, REPORT AND FINANCIAL STATEMENTS For the year ended 31 December 2022 Company Number: 02138994 Charlty Number: 297483
CONTENTS TRUSTEES, OFFICERS AND ADVISERS Trustees, Offlcers and Advisers PATRON Her late maSty, Queen Ellzabeth11 PRINCIPAL OFFICERS Rachel Whlttington, Group CEO to 31.12 2022 Adam Edward5. Group Deoulv CEO Acting Group CÉOlrom 01.01.2023 Ellzaberh Carnelley, Dlrector of Partnershlps Laura Ryder, Interlm Head of Finènce to 31.10.2022 5ar•h Wallate BEM, Director of Pro8rammes and Innovation Vlnyo Aldim, Director of Fin3nce ènd Govern•nce Jrom 15.08.2022 PRESIDENT The Most Reyertnd Ind The Rl8ht Honour•bl luMIM Welbv Chalr'5 Foreword Report of the Trustees TAUSTEES kndrew B•rnett OBÉ Chalr Revd Catherlne A11150nfrom 10.11.2022 Sue Chalkley OBE Allson Grle¥e Robert Hallam to 03.03.2023 Revd Dr AAderson Joremi•h Revd Chrlstina Rees CBE Ale¢ Spen¢ei 10 12.03,3025 Revlew of 2022 and plans for the future io ADVISERS 8ankers- Natlonal Westmlnster Pk Victorla IBI, PO Box 1357, 169 Vlctorla Street London Swle SNA Financial Roview 13 Dellv•rln8 Publlc Benefit 15 Structure, GDv•rnènce 3nd Manademeni 15 FINANCE AND ADMIfrIISTAATION COMMirrEE A1550n Grleve Chzir ITru5teel Nlck Thomas Robert Hallam (Trusteel ro 03.03.2023 Pl•rr• Cl•ud• to 13,OJ.2023 Investment Managers- CCLA Investment mani8omnt Ltd One Angel Lane, London EC4R 3AB The Trusiees. ResponslbS11ty 20 for preparln8 Annual Financlal Siatement5 Audltors- Maiars LLP 6 Sutton Plaza Sutton Court Road Sutton, Surrey, SMI 4FS REMUNERATION cOMMIEE Revd Dr Andér50n Jtremlah Chalr (Trustee) fromjuty 2021 Andrew BarnEtt OBE (Trusteel Allson Grleve (Trusteel Robert Hallam (Trusteel to 03.03.2023 Ihd•p•nd•nt Audltorfs Report Con5011da¢ed Statemtni of Flnanclal Activltles 21 Sollcltor5- Anthony Colllns Solkltors LLP 134 Edrnund Street 8irmln8ham 83 2ES 25 cOnlId)led B•l•nee Sh•et 26 Balance Sh• 27 Consolldèted St•tement of C•sh Flows Notes to the Hnanclal Statements 29 Ae8istered office: The Foundry 17 O¥al Way London SEII 5RR RegI5tered company number 02138994 Registered Charlty number 297483
ANNUAL REPORT AND ACCOUNTS 2022: CHAIR'S FOREWORD In 2022, we continued to emerBe from the Covid-19 pandemlc. As we did so, we learned more about the effects of the pandemic on people's physical and mental health and the feelings of isolation that many people experience. This has been compounded by the cost-of-living crisis, including rising energy and food prices. meaning that more people were pushed Into deeper poverty and debt. Throughout these challenging times, Church Urban Fund has adapted and stepped up to play a key role In moblllslng faith-based social action that hos supported churches and communities to transform the lives of the people they serve. This progress is the result of 35 years, experience listening to and serving local churche5. which has led to Innovatlve and sustainable ways to respond to local need. As the cost-of-living crisis pushed more people into distress, local churthes and generous volunteers contlnued to Snspire u5 Wlth theSr resllience and creatlvlty, providlng practical support as well as love and care. In 2022, we contlnued our work building and mobili5in8 a national movement of faith-based Social partners working together to Serve local people and orBanisation5 who know thelr communltles best. We equlpped people to make a bigger difference in thelr community through our training and resources. And we ampllfled local voices, speakin8 Out to influence pollcy and decision makers. We know we have much more to do. A5 we continue to seek to deliver our strategy of serve, speak, lead, we will build on this progress, but also adapt our approach to respond to the needs of local people and churche5. At CUF, we remain commltted to equipplng people In local churches to Serve, speak and lead in thelr communlties. As Chrlstians, we know the value of community and fellowshlp. We know that we need eoch other to really flourish. We have all been given different parts for this purpose.. to serve others as jesus exhorted us. Church communities allow us to love one another, walk in fellowshlp wlth one another, bear each other's burden5 and grow to serve our world together. As local churches across England Serve and care for people In need, we must contlnue to stand wlth them. The world remalns a complex and unlust place for too many people. But, as we have shown through our work in 2022, it doesn't have to be this way. We have hope in the solidarity of people and communities, each of us built in the Image of a loving God. From the stories that I hear about the resourcefulness and bravery of churches In the ways in which they work to support people, hope shines out as they journey with people. The Church of England's parish network means that churches are deeply rooted in every community and thi5 network is one of the countrrfs Ereatest assets. This means that in every communlty there is a place of hope. Churche5 have that enduring presence to create a sense of hope and belonging in a way that few other or8anlsations can. Those of u5 With responslblllty for Indivldual churches know how Important it is to keep our doors open, to welcome people in and offer hospltality. Churches often underestimate the impatt they have and how many people they are reaching in various ways. Throughout the year, we have seen 3 larger number of churches using our Growing Good re50urce5 that explore the connections between social attion, discipleshlp and growth. Through the se55i0n5 focused on the themes of presence, hospitality, partlcipation. adaptability and perseverance we are seeing how churches can think or re-think about how they can be faithful and fruitful in local communities.
With our expandin8 network of Plotes of Weltome, we have seen new venLtes openingtheir doors, not only as a place for people to be warm in the colder months, but as a place where people Can feel valued, less i501ated, and more connected to the places where they live in a mix of people who wouldn't necessarllv meet othetwise. Our work with Near Neighbours continues to offer a brldge between people of difference In some of our most diverse and divided communities, helping grassroots organisations with small grants to initiate projects ofhope and chan8e. The growth of Llfesovers and MIIo'5 Money through the Just Finance Foundutlon, has meant more of our children are equipped with a stron8er financial education to empower them to make better, more informed cholces about theSr flnances throughout thelr Ilves. As I wrlte in mld-2023, we are redoublSng dellvery agalnst the vlslon and strète8y we a8reed In 2021. We are recrultln8 new trustees to add value to the or8anisatlon'5 governance and buildlng an effectlve worklng relationship with our executive tearn now led by 8i5hop Rob Wickham. We review our own performance and hre commltted to complylng with the Charlty Governance Code Includln8 through the make-up of our board who bring a diversity of backgro(Jnds, skllls and experlences to our role. All our work Is almed at empowerlng people of all ages, backgrounds and beliefs to serve, lead and speak. Andrew 8arnett 08E Chair of Trustees
OUR IMPACT IN 2022 As the longer lerm financial and Social Impact of the Covid-19 pandemic emer8ed during 2022, and the cost- of-livine crisi5 hit people throughout England, CUF and Its subsidiaries were well equlpped to respond with programme5 and support to those most in need. Some highlights of our impact are below.. Together Network Worked with 15 care members and 9 associate members to support.. 512 churches 550 projeds supported including 137 new inltiatlve5 25 networks coordinated and over 158 networ k meetin85 held More than £1.6 mlllion Iri fundlng secured by the Together Network The Network helped other organisations secure more than £180,C(Q In funding Places ol Welcome 168 new Places of Welcome opened in 2022, meaning there are now 610 reglstered locations. Places of Welcome reach over 14,CIJO people every week. 2,800 volunteers mobilised. Growln8 Good 1,000 people 518ned up to access the resources 250 people attended workshop5 to find out more about the resources and how to use them Over 300 churches used the resources to run a course Posltlv• Pathways Reached 1,935 people In total Nèar Nel8hbours 2,746 grassroots leaders equipped with pr?rticol skllls and confidence to make a bi8ger dlfference in thelr neighbourhoods. 483 volunteers mobilised and 4,276 volunteer hours to stren8then communitles. 150 new partnerships facilitated between local organisations. 32 8rants awarded to the value of £100,078. Catalyst 93 young people participated In 4 cohorts acr055 3 locations. 96% of respondents rated their Catalyst experience good or very good.
Just Finance Foundation 60 new Lifesavers schools engaged. 139 active Lifesavers schoo15, engaging 42,218 pupils, 870 teachers tralned. 6,500 new children enga8ed with Milo's Monev. 1,923 visits to Milo's game.
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2022 The Trustee Board presents their Annual Report and Financial statements of the charity 8roup for the year ended 31 December 2022. The Financial Statements have been prepared in accordance with the accounting policies set out in note I to the accounts and tomply with the charity's Memorandum and Articles of Aswciation, the Companies Act 2006, the Charltles Act 2011, and Accounting and Reporting by Charities.. Statement of Recommended Prartice applicable to charities preparing their accounts in accordante wlth the Flnancial Reporting Standard applicable in the UK and Republic of Ireland. OVERVIEW Church Urban Fund ICUFI Is a charltable company Ilmited by guarantee and was established by the Church of England in June 1987 as a practlcal response to unmet need and has been actlve In local communities for over 30 years. Church Urban Fund's Memorandum of Assoclatlon defines Its objects and powers and Is covered by its Artlcles of AssocSatlon. We launched In 2022 the Growing Good resources that were the result of the three-year GRA:CE research project between CUF and The05 looking at the Ilnka8es between social actSon, growth and confidence. Thi5 has enabled CUF to further éellver on its vision of belng a socSal action mobiliser, and opened our reach directly to churches, with over I,0 people accesslng the resources In 2022. We contlnued to embed and dellver on the refreshed vlslon, mlssion arbd strateBY that was flnallsed In late 2021. Our natlonal vlslon Is communltles of hope working together to serve and strengthen soclety. We believe everyone should have access to a supportlve and nurtuTin8 communlty, We will help achieve thls through our mlsslon to become a national soclal actlon mobiliser worklng with and through the Church of England to empower people of all ages, backgrounds and bellefs to.. Serve: We work to build and mobili5e a national movement of faith-based partners seeking to serve their communities. Our focus15 on slgnSfScantly growing membership of the Together Network, Near Neighbours and places of WelcDme, a national movement of hospitalitv, Load: We equip pEoplE to make a bigger difference in their community through high Impact, relational pro8rammes - designed by locals and delivered by loca15 - tackling issues of loneliness, social cohesion, food poverty and, through our subsidiary, the Just Finance Foundation, financial exclusion. Speak: We amplify gra5sroot5 voices and, with an emphasis on storytelling, we influence policy and decision makers. Through our What Works Centre, we will develop a new narrative about what falth- based social action is and how it contributes. We have continued to look at governance structure5 and prDcesses. Following the Governance Review, led by Lucent Consulting in 2021 we have begun a process of implementing the recommendations of thi5 review, An immediate action, driven by our desire for greater slmpllcity, was to operate the CUF and NN'S boards
co-terminously. This has increased the awareness of each charity's work across the Trustee group and lessened the reporting impact on the executive team. The relationship between CUF and the Together Network has continued to develop and mature, following the disaggregation process of 202012021. Thi5 has reshaped our relationshlp to one of mutuality and creative sUPPOrt, partnership and collaboration, and has offered the opportunity to expand the Together Network beyond the original membeis. Closing the year, in addition to the 15 Core members Wlth whom CUF has a legal relationship, we had 9 "associate members" join us in an informal relationship of support and resourcing and we expect this number to grow in the future. In March 2022 the Rev'd Adam Edwards jolned CUF as Deputy Group CEO to strengthen and add capacity to our leadershlp team. Adam had prevlougly been CEO of one of our Together Network partners and has experience of working In communlties. In December 2022, Rachel WhittSngton left her role as Group CEO to explore new opportunities. The Trustees thank Rachel for the work that she has done for the CUF Group. The Rt Rev'd Rob Wlckham was appointed as Group CEO in January 2023 and will take up the role in Julv 2023, wlth Adam Edwards operating as Acting CEO in the intervening period. LEGAL STRucfuRE AND BASIS OF CONSOLIDATION The Together Network is a network of individual charities, large and small, which was set up in partnership wlth CUF and the Church of England dioceses. It promote5 collaboratlve, local s0¢ial action through nelwork buSldln8, Stren8thening of relation5hlps, sharing of best practice and the development and delivery of programmes to tackle social issues including food poverty, loneline55 and homele5snes5. Since the disaggregatlon process CUF remains the convenin8 member of the Together Network. Near Nelohbours was established on 15 June 2011 and has been funded principally by the Department for Levellin8 Up, Housing and Cornmunities IDLUHCI Iformerly Ministry of Housing, Communities and Local Governmentl and CUF, bringing together people who are near nei8hbours in communltle5 that are reli8iously and ethnically diverse, so that they can get to know each other better, bulld relatlonshlps of trust and collaborate on Initlatlves that Improve the community they live in. The lust Finonce Foundotion was established as a charity on the 15 Marth 2017. IFF promotes a fairer financial system and equips people to manage their money better. A key focus is on helping primary-aged children, through their schools, develop a posltive relationship with money and embed habits, learning and behaviours that build financial resilience into adulthood. We also develop 'traln the trainer, community finance programmes to help people budget, save and spend wisely. It is funded by a number of trusts and 8rants. TRANSAcfioNS BEfwEEN THE GROUPS During the year, CUF undertook the following transaction5 Wlth the Together Network ITN}, Near Neighbours INNI and the Just Finance Foundation IJFFI- Near Neighbours paid CUF a grant of £IIOk12021'. £855kl to administer the Small Grants programme.
Near Nei8hbour5 made 3 contribution of £187k12021.. £468kl to CUF toward5 the administration of the overall programme. At the year end, the Intercompany balance was E123k12021: £93kl owed by CUF, Just Finance Foundation made a eontribution of £50k12021: £50kl to CUF towards the Shared central costs provided by CUF. At the end of the year Intercornpany balance of £IOk owed by CUF12021,. £4k owed to CUFI. Durlng 2022 CUF paid £nll12021.' £43kl to the joint venture subsldiaries under the Together Network. The intercompany balance for the To8ether Network was nil12021.' nlll owed by CUF. In the Broup accounts these transactions are ellmlnated on consolldatlon.
REVIEW OF 2022 As we journeyed through 2022, we had a clearer picture of the longer term soclal and economic Impact of the pandemic. especially around the issues of physical and mental health and loneliness. Also, throughout 2022, there was SiBnificant concern about the cost-of.livin8 crisis with increasin8 food and energy price5 that were cau5in8 financial distre55 and hardship to a 518nificant proportion of the population. It was through the embedding of our strategy, finalised in late 2021, and vision to serve, speak and lead that we were able to lead and InspSre churches and communlty groups to seNe thelr local communltles In these difficult time5. Th15 support to churche5 wa5 bolstered by the rollout of the Growlnq Good re50urce5 In 2022. Growing Good enables churches to take and integrated approach to social action, discipleship and growth. The Growing Good project team launched the Growing Good Toolkit, Including five films that focus on the stories of churches that are building new connections and making 3 difference, and ran a Successful workshop forTogether Network core members to equip them to share the toolkit in their communitie5. One toolklt pllot partlclpant, Heather Lllack, Programme Leader, Mustard Seed In the Lliocese of York told u5., "The Growing Good Toolkit provides o resource ond rj frtimework to help churches with their thinking ond planning. -it helps people ro look ot thpir church ond thpir community withfre.sh eye5. In 2022, there were 1,000 pèople who accessed the resources and over 300 churches ran a Growing Good course, and ovor 250 pooplo attcndv.d workshops and trainiiig ovents. Placès of Welcome conllnue to Rrow, arid are an important piece of work In tackllng the lonellness and isolation that was exacerbated by the pandemic aiid cost-of-living crisis. In 2022, 168 new Places of Welcome opened, meaning there arp. now 610 registered IvLaiioiis rcauhin8 OVLII. 14,000 pe%ople cvcry week. OUT homelèssness preventlon and support programme, Posltlve Pathways, went from strength to strength in its fourth year. The central goal of P051tive Pathways is to "5UPPOrt 1,400 clients at risk of or experiencing homelessness in Yorkshire to live more sustainable and thriving lives. The project c105ed its fourth quarter having reached 1,935 people in total, exceeding Its target and affecting real change across the county. The Strength of the P051tive Pathways approach Is that workers are able to respond flexlbly dependin8 on the individual's circumstances and need5, offering a truly bespoke and relational approach which helps them naviBate a perlod of crisis into a place of greater stability- a place where their basic needs are met, including hovsing, and they can begin to think more actively and positively about the future. Arbother significant success of 2022 was our administration and evaluation of the Windru5h Day Grants Programme. We awarded 35 grants, with a total value of £500,OiKI, to different type5 of organi5ation5 across England including 5 local authorities, I natignal and I regional museum, and 28 cornmunity-based organisations. Grantees employed a range of creative approaches to achieve the aims of the scheme. Of the activities undertaken by grant recipients, half involved music or perforn)ance arts 150%) with other activltles Including sporting activlties, communlty street partSes or carnivals, storytelling projects, radio projects, art installation5/exhibitions, and work with schools. To8ether, WDGS projects tapped into the asset5 and creative gifts of their local communitie5 to celebrate the Windrush 8enerations and deepen understanding of the Windrush legacy. 10
Glven the backdrop of the economic impact of the pandemic and the onset of the cost-of-living crisis. the work of the Just Flnance Foundation in both preventive and reactive financial education programmes proved vital to many people nationally and the team proved as creative and adaptable as evèr. At the start of the year, IFF launched Milo's Money and introduced the world to its newest finantial educatlon hero. In his picture book, website, and online game, Milo brightened classrooms, laptops and Ilving rooms around the country. Combining practical skills such as coin recognitSon with soft ski115 and eBrly exposure to hDW money works, Milo's child centred approach was beloved by teachers and students alike. Durin8 the year we now have 139 active Llfesavers schools engaging 42,218 pupils,. 870 teachers were tralned, and 6,500 new ch51dren engaged wlth Mllo's Money. ear Nelshbours continued to work to brln8 about 50clal cohesion in some of our most diverse and divided communities, helpin8 grass roots organisations with small grants to initlate projects of hope and change. Throughout the year.. 2,746 grassroot5 leaders were equipped wlth practical skllls and confidence to make a blg8er dlfference In theSr nelghbourhoods,. 483 volunteers moblllsed and 4,276 volunteer hours to strengthen communitles,. 150 new partnerships facilitated between local organlsatlons and 32 grants awarded to the value of £100,078.
PLANS FOR THE FUTURE: 2023 AIMS AND OBJECTIVES We move into 2023 on strong foundations. Over the past year we have embedded our new strategy and maximised opportunitie5 for change and development. Our fundraising has remained stable and even grown in some aie3s, despite the ongoing challenges presented by the cost-of-livin8 crisls. We-plan-to-keewlnvesting-itrequippinEthurche>and-nblliSincr1stran-s0cl8l3ctI0trT.he-nextrTra-rn0nths will be a crltical tlme for u5 to ampllfy the volces of local comm¢Jnltles who are struggling, and celebrate the impoit3nt role churche5 play in supporting them. We will add further resourc5 to our Growing Good toolkit that will help churches who havc already begun that journey to undersiano now social aciion in their community can De connected to uiscipleship and growth. As our Places of Welcome network grows, we will support this network and local co-oidinators with practical advice and resources. equipping people to make a bigger difference in their local communitv. We will listen to churches and communities to understand their developing needs as we journey togcthor through the cost-of-living crisis and provide relevant tools for churches SO that they can support communities. Through the stories that we hear Irom local people we will amplily their volces and the distinctive value of faith-based sotlal actSon to influence policy and decision makers to bring about 5VStemic change to people's live5. We also know that the impact of the p3ndemlc and cost-tsf-living crisis wlll continue to be felt In the years to come. Thi515 a critical ti me to serve and care for the most marginalised people in our communities. We will contlnue to support thc Together Network, biilldlng a movement of faith based social action that serves local communitles. And we will work with local partners across England to provlde personal care to people facing homcle55ne55. As a Christian organi5ation, we are motivated by a vision of the world as God intends it to be. We are passionate about building communltie5 where material needs are mel and everyone feels connected, valued and loved, All of this is in the hope that, together, we will build confident, connected, hopeful and flourishing communities. 12
FINANCIAL REVIEW OveThiew The flnanclal statements have been prepared in a way that reflects the ¢harltable actlvltles of CUF durlng 2022 in three ways.. l. The ToL7ether Network's programme of activities is delivered through a network of churches, faith- based or8anlsations and secular grcups. It works ecumenically and relationally to ensure that: Socit71 oction by churches and community groups- delivered dirertly by the Together Network- increases in its extent, effectiveness, and faithfulness, as best practice is shared, resources are levera8ed, and appropriate opportunitie5 are identified. Collaborotion for the common good grows, including acr055 sectors lstate, private, and voluntary). falths, church denominations and within neighbourhoods. Sociul policy, public oplnion and public service design and resourcing are increasingly Informed by real-life experiences in local communities. 2. The Neor Nelghbours programme whose alm Is to: Build a network of people across particular geographical areas and develop relatlonshlps across faiths and ethnlc boundarles through presence and engagement Hubs. Create en8agement through provislon of a small Brants programme and by supportln8 local action. 8uild capaclty of community and leadershlp delivery partners, broadenln8 skills of Indlvlduals and or8anisatlons. The Just Finance Foundotlon, whlch aims to create a fairer flnanclal system focused on servlclng the whole communlty, where everyone has access to responslble credSt, savlng5 and other essentlal financial servlces. 3. Research, evaluatlon, promotion and dissemination of information to network particlpants and the wider public, to influence awareness, consideration and response to issues affertin8 the flourishln8 of individuals ond communitie5. Income and Expendlture Total income for 2022 w35 £4.57m12021: £5.13ml. Unrestrlcted Income recelved In the year was E2.5m12021'. £1.4ml. Restricted Income Includes funds for Near Nelghbours £526k12021.' £2.3ml, Just Flnan¢e Foundatlon £347k 12021.. £180kl, and the Together Network £6k12021'. £535k. Expenditure decreased to £3.3m {2021.. £6.26ml reflecting the reduction in funding for charitable activities related to Near Neighbours 'Creating Engagement,. Thi5 reduction a150 reflects the disaggregation and dlssolution of joint venture5 in the Together Network. 13
The Balance Sheet funds for the group shows a significantly improved unrestricted closing position for the Year of unrestricted funds at £2.57m12021: £1.29ml but a reduced balance on restricted funds at £0.73m 12021.. £0.74ml. The cash position at the end of the year was £1.46m12D21'. £1.57ml wlth net assets of the group being £3.30m12021.' £2.03ml at 31 Oecember 2022. CUF gratefully acknowledges the many contributions, both small and large, received from individual5, churches and legacie5, Wlthout which it5 work would not be p055ible. The continued support from the Archbishops Council of £0.2m12021- EO.2ml is also recognised as an importsnt contribution, as 45 the funding from various trusts and foundations. Reserves pollvi We alm to maximise the funds we can spend to support our charitable aims. The Trustees annually review our reserves policy and the level of required reserves, due to the highly volatile context in which the charlty operates. The Trustee5' alm is to malntaln the correct b31ance between a growth strategy and the deslre to achieve a prudent level of reserve5. They have consldered a target level for unrestricted free reserves of £400k from 2021, based on the scale of cur'5 activities and resource base at that time to provide operational cover to ensure a tlmely and orderly transStion lor wlndlng upl of the organ15atlon, If necessary. Additlonally, to provlde support for Near Nelghbours and the lust Finance Foundation in the event of the wlndlng up of either charity. Based on this target the year end reserves are well above the level asse55ed by the Trustees. Pl?n5 and actlve monthly monitoring were instigated during 2020 to addre55 the shortfall incurred during that year to ensure that the charity could meet Sts liabilities as they fall due. The increase back to sufflcient levels was in part due to large and unexpected legacy income received In 2020, which posltloned CUF back to a more than 5atlsfactDry reserve level for 2021. As such, the monthly monltor5n8 was revlsed to quarterly monitoring. Investment Pollcy Ind Performance Our investment policy15 to focus on capital security and liquidlty and to invest in cash and cash equlvalents nvestments to achieve this. At the year-end £0.753m 12021: £0.743ml was held wlth CCLA Investment Management Limited's 'The CBF Church of England Oeposit Fund" CCLA Investment Mana8ement Llmited Invests In accordance wlth the Church of England's ethltal pollcles, 14
DELIVERING PUBLIC BENEFIT CUF'S primary aim is to tackle soclal and economic disadvantage and we do thls In ways set out in the'Review of 2022 and plans for the Future, section of this document. We are also working for the renewal of civil society and entouraging the development of the charitable sertor. We work through Church of England structures, but fotU5 our activity on people and organisations of all faiths and denominations. Beneficiaries are not restritted by faith, gender, ethnic ori8in, disabilltvi a8e or sexual orientation. The Trustees consider the guidance on public benefit each year, issued by the Charlty Commission and are confident that CUF aims and objectives, as set out above, fulfil the criteria. The Trustees do not anticipate any future change to thi5 operational approach. STRUCTURE, GOVERNANCE AND MANAGEMENT GovÈmln8 Documents CUF is both a company Ilmlted by guarantee subject to the Companles Act 2006 and a charity re815tered with the Charity Commisslon. It 15 8overned by its Memorandum and Articles of Association which were last updated on 19 May 2011. The company re815tratlon number Is D2138994 and the charlty number 15 297483. The Dlrectors of the company are known as Trustees. Govemance Struclure The Articles of Association allow for up to twelve Trustees and provide that the Archblshop of Canterbury is President. Four Trustees are nomlnated jolntly by the Archbishops of Canterbury and York,. three by the Church Commissioners,. two by the Archbishops, Councll; one by the Finance Commlttee of the Archblshops, Council and two are co-opted by the Trustees after consultatbon with the Archblshops. The current composition of the Trustees and Exetutlve Dlrettors is set out on page 2. The Trustees have established board sub-committees which support CUF work throughout the year and report fully to the Trustees Board., A Finance and Adminlstration Comrnlttee . whlch operates under their designated authority and oversees and advises on flnanclal, risk management and administrative matter5, A Remuneration Committee- which revlews the principles governing pay and benefits as well as kev personnel including the Executive Director and other Director5, A Safeguardlng Committee which reviews the Safeguardlng Pollcy, Staff training and any safeguarding Input with active overslght from two board members. Membership of each of these Committee Is agreed by the Trustee5 and comprises a mix of Trustees and c opted member5 whose function 15 specific to the sub-committees on which they serve. The membership of each sub-committee is set out on page 2. The maln Board meets five time5 a year to review overall strategy operational and financial peiformance and ensuring our statutory responsibilities are fulf illed. Any Trustee expenses reclaimed are set out in note 11 to the financial statements. 15
Trustee Induction and Training Our oblertbve on appointment of our Trustees is to undertake a comprehensive induction programme which covers the formal governance arrangement and includes our legal structures and oblSgations. charitable prlorltles and work, The Induction also Includes briefings from key staff and meetings with those active in our networks, which help5 Wlth awareness of grass-roots Issues and developments. They are also kept up- to-date-with-regular-brieflngs-on-éevelopmentln-cuPkoperatlng-envlronmentrFurther-tralning-lttarrled out on an ongoing basis, making use of the Charity Cornmi5sion website and other charsty publications. Tru5tee5 are a150 invited to attend meeting5. conferences and seminars, whlch give them a better under5tandin8 of their roles and responsibilities. Management and Organlsatlonal Structure The day-to-day management and the responsibility for the implementation of strategy and planning are dele8ated to the Executlve Director. Formal reportln8 to the Trustee Board takes place re8ularly throughout the year. The Ixecutlve Director is supported by a team ol Principal Officers, set out on page 2. These are collectlvely the Senlor Management Team. Fundralslng Our fundralslflg strategy focuses on alignlns with individuals, churches and organisations who Share our values and want to contribute funds to supportln8 local communltles across England. To raise funds and awareness of our work in a sustalnable wayi and to allow supporters to get Involved In a way that sults them best, we rely on a range of different fundraisins activities. Our core fundralsin8 Streams are: Legacies Individu31 Giving- namely direct appeals and regular giving Church Giving TrLlStg and FniJndatinn8 CUF Is an organlsatlonal member of the Fundralslng Regulator and undertakes regular reviews of our fundra15ing actlvities, pollcles and procèsses to ensure they allgn wlth the Code of Fundraislng Practlce, and guidance from the Charity Commission. Our staff undertake regular trainlng, both internally and externally and are connected to the broader fundraisin8 sector through organisations and interest groups such a5 the Chartered Institute of Fundraising. All our fundralslng communlcatlons must reflect our vlslon, mlsslon, and values. FundraisSng communlcations will be transparent and truthful, statlng whether funds raised will be used for our general charitable purposes or for a Specific purpose. Whllst It Is not a maln focus of our lundralslng strategy, we do also support churches and members of the public to fundraise on our behalf. This 15 done through church giving or 5pon50red fundra15ing actlvltles. To maintain our fundraising standards, our internal staff work closely with these individuals, providinE relevant guidance and sUPPOrt throughout the fundraising proce55. Thi5 guidance 0551Sts fundraisers to identify and protect people in vulnerable circumstances. Data collected by CUF is strictly confidential and we do not share this data with any third party without consent. CUF is compliant wlth GDPR and data protection regulations. Our staff, trustees and volunteers do not accept commissions or bonuses for fundraising activities on behalf of CUF. We do not currently employ external professlonal fundralsers to raisefunds on our behalf throuEh telephone or door-to-door fundraisirbg. 16
However, we do seek the 5UPPQrt of fundraising grant writers and other creative suppllers to assist our irbternal fundraising team. We requlre our suppliers to adhere to our fundralslng policles and standards and th151s Included in our contracts with them. Our supporter5 are at the heart of all our fundraising activities and processe5. We are pleased to have recelved no formal fundraising complalnts in 2022. If someone does want to make a complaint or provide feedback regarding our fundraising, we encourage them to do so in writing and provide helpful and clear Ir15trLJCtions on how to do so. Protectin eo le in vulnerable circumstances when fundraisln We are commltted to ensuring every indlvidual that engaBes With CUF feels Informed, valued, and inspired about our work. We will always treat donors and prospective donor5 wlih respect. Th15 includes striving to respect the wishes and preferences of the donor. We wlll respond appropriately to the need5 of our donors and make all reasonable effort5 to adapt our approach to meet the requirements of the donor. All our fundraising staff are trained to take special care to protect people who may be in vulnerable circumstances. Our Internal trainlng Sncludes how to Identlfy signs of vulnerabllity, whether engaglng with someone vla telephone, face-to-face, or wrltten correspondence. If our fundralsers Identify potentlal slgn5 of vulnerabllityi they wlll respond appropriately and accordSng to our donations acceptance and refusal policv, This all8n5 wlth the Chartered Institute of Fundraising's Treating Oonors Fairly Guidance, and the Charities Act 2016. 17
CUF PRINCIPAL RISKS RISKTYPE Governance RISK Complexity MITIGATION Embedding coterminous board arrangement5 and intentlonal approach with all boards for agreement on further governance recommendations and wider lrnplementatlon. Ilegular meetlngs between the thairs of the three charities within the group to ensure joint working across senior leadership. Operati¥Mal Chan8e in CEO durin8 2023 Adam Edwards will be acting CEO until 10 July 2023 when the new CEO takes up post. Adam has prDvided continuity during this tSme. Adam will revert back to his substantive post as Deputy CEO from 10 July 2023, which will further aid the tran51tlon perlod. Andrew Barnett will step down as Chair in October 2023, a full programme to recruit his successor has been put in place and Saxton Barnpfylde have been appointed to lead the recruitment process, At the time of thls report being produced, the Interview process was Sn place and a new Chair w35 anticlpated to be appointed in july 2023, with a period of handover before Andrew steps down. Programmes require full funding before proceeding to avoid exces5 demands on unrestricted income. Cons¢ious financial modelllng without reliance on 80vernment fundlng. A cost recovery model was implemented from 2022 onwards to reduce the requirement for unrestricted Income to support restrlcted grant activitv. Governance Change Sn Chair in 2023 Flnan¢l•l Sustalnable flnancial model Reputatlon Reporting priorities Keepin8 funders informed of future programme dellvery and reports mor71tored and prlorltlsed to maximise opportunities to secure future funding, Operatlonal Dlverslty awarene55 Slgnlflcant Improvements made with regards to internal organi53tlonal awareness, training complete. Practical progress to recruit broader representation at board level to be priorili5ed for greater diversity and Ilved experience. Other Ernployment uncertainty and external Competition Employment In the charlty sector Is volatlle. CUF benchmarking undertaken to understand market posltlon. Review of non-finaneial benefits to take place during 2023 and strengthen the reason to stav at CUF longer term. Displacement as other charities emer8e Structural and strategic review clarifles the 5peclfic remit and unique positioning for CUF. 18
Going Concern The Trustee5 have revlewed the charlty's financlal position, conslderlng the levels of reserves, cash posltlon and Strategic plan, in addltlon to its financial and risk management systems. The Trustee5 and Senior Management Team have continued with a number of measures such as a detailed bud8et and cashflow forecast, expenditure controls and the c105e monitorlng of cashflow. Accordingly, the Trustees have a reasonable expectatlon that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus, they continue to adopt the 8oin8 concern basis of accounting in preparing the annual Flnancial Statements. Key Management Personnel Ramunorat5on The Trustees consider the Board of Trustees, and the Dlrectors (listed in note 101 as comprising the key management personnel of the charity In charge of directing and controlllng the charity and runnlng and opeTatlng the charlty on a day-to-day basls. The Trustees Bave of their time freely and were not remunerated In the year. Details of Trustee5 and related party transaction5 are disclosed in note 22 to the accounts. The 5enSor staff salaries are revSewed annually and normally Increased In accordance wlth inflatlon. In 2021. an or8anisatlon-wide benchmark against pay awards In 5imllar charitable organi50tions took place and all salaries were revlewed accordlngly, SncludinB those of senlor staff. All staff are paid above the Natlonal Livin8 Wage. 19
THE TRUSTEES, RESPONSIBILITY STATEMENTS FOR PREPARING ANNUAL FINANCIAL STATEMENTS The Charity's Trustees are responsible for preparing a Trustees, Annual Report arbd Financial Statements in accordance with applicable law and United Klngdom Accountlng Standards Iunlted Kln8dom Generallv Accepted Accounting Practice). The law appllcable to charities in England and Wales requires the Trustees to prepare annual financial statements for each financlal year that give a true and fair view of the Charity's financial activltSes durlng the year, its surplus or deflcit for the year and its flnanclal positlon at the end of that year. In preparing annual financial statements, the Trustees have followed best practice and.. Selected suitable accounting policies and applied them consistently,. Observed the method5 and principles in the applicable Charities SORP; Made judgments and e5tlmate5 that are reasonable and prudent,. Followed appllc3ble Accounting Standards and Statements of Recommended Practlce; ond Prepared the annual fi nanclal statements on the going concern basls. The Trustees are responsible for keepin8 proper accounting records that disclose with reasonable accuracv at any tSme the financlal p051tion of the Charity and enable them to ensure that the accounts comply wlth the Companies Act 2006. They are also re5pon5ible for safe8uardin8 the Cha rity's assets and for takln8 reasonable steps to detect and prevent fraud and other irreeularities. The Trustees have overall responslblllty for ensurln8 that the Charity has approprlate system5 of control, flnanclal and otherwlse. The Trustee5 are responsible for the maintenance and Integrity of the corporate and flnancial information in¢lL4ded on the charitable company webslte. Legislation in the United Kingdom governing the preparatlon and dlsseminatlon of financial statements may dlffer from legislatlon In other lurlsdictions. Each of the Trustees at the date of approval of thls Trustees, report conflrms that: In so far as the Trustees are aware, there is no relevant audit information of whlch the Charlty's auditors are unaware,. and The Trustees have taken all the Steps that they are obliged to lake as Trustees In order to make themselves aware of any relevant audit information and to establish that the Charitrfs auditors are aware of that information. Small Company exemptk>n The company has taken advantage of the Small companies, exemption as annual income and total gross assets Is below the threshold. The account5 have been prepared in accordance with the special provision contained in the Companies Act. The entity's Financlal Statements comply with FR5102. Audltors The Tru5tee5 reappointe(l Mazar5 LLP as 3uditors at the Board Meeting on 18 Juty 2023. Approved by the Trustees on 18th July 2023 and signed on their behalf by.. Andrew Barnett, OBE - Chalr of Trustees 20
INDEPENDENT AUDITOR'S REPORTTO THE MEMBERS OF CHURCH URBAN FUND OpSnion We have audited the financi31 statements of Church Urban Fund Ithe 'Charitl for the year ended 31 December 2022 which comprise the Consolidated Statement of Financial Activities, the Consolidated and Charlty Balance Sheets, the Consolldated Statement of Cash Flows and notes to the financial statements, including a Summary of signlficant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 'The Financial Reporting Standard applicable in ihe UK and Republic of Ireland" (United Kingdom Generally Accepted Accountlng Practice). In our oplnlon, the financial statements: Give a true and fair vlew of the state of the group's and of the parent charity's affair5 as at 31 December 2022 and of its Sncome and expendlture for the year then ended,. Have been properly prepared In accordance wlth Unlted Kln8dom Generally Accepted Accountln8 Practice,. and Have been prepared in accordance with the requlrements of the Companles Act 2006. Basls for oplnlon We conducted our audit In accordance wlth Internatlonal Standord5 on Auditin8 IUKI IISAS IUKII and applicable law. Our responslbSllties under those Standards are further descrlbed in the Auditor's re5pon5ibllltSes for the audlt of the financial statement5 Section of our report. We are Independent of the Charity in accordance with the ethlcal requirements that are relevant to our audit of the financial statements in the UK, Including the FRC'S Ethical Standard and we have fulfilled our other ethical responsibilities in ccordance wlth these requlrements. We belleve that the audlt evldence we have obtained Is sufflclent and pproprlate to provlde a basls for our opinlon. Concluslons relatlng to golng concern In audltlng the flnanclal statements, we have concluded that the Trustees, use of the goln8 ¢oncern basls of accountln8 In the preparation of the financial 5t?temenls is approprlate. Based on the work we have performed. we have not identified any materlal uncertaintie5 relating to events or conditions that. individually or collertlvely. may cast significant doubt on the group's or the parent charity's ability to contlnue as a going concern fora period of at least twelve months from when the financial statements are author15ed for issue. Our responsibllltles and the responsibilities of the Trustees with respect to going concern are described in the relevant sections of this report. 21
Other information The other Snformatlon comprises the information included in the annual report. other than the flnancial sratements and our auditor's report thereon. The Trustees are responsible for the other information. Our oplnSon on the financial statements does not cover the other informatlon and, except to the extent otherwlse expllcitly stated in our report. we do not expre55 any form of assurance conclusion thereon. In connection wlth our audit of the financial statements, our responslbllity Is to read the other Informatlon and, in doing 50, consider whether the other information is materlally Inconsistent with the financial statements. or our knowledAe obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatement5, we are requlred to determine whether there is a material mlsstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material mlsstatement of this other informatlon, we are requlred to report that fact. We have nothing to report In thls regard. Oplnlons on other matters prescrlbed by the Companles Act 2006 In our opinion, based on the work undertaken in the course of the audlt: The Snforrnation glven In the Trustees, Report which includes the Dlrectors, Report prepared for the purposes of company law, for the financial year for which the financial statements are prepared Is consistent with the financSal statements,. and The Directors, Report Included withln the Trustees, Report has been prepared in accordance wlth applicable legal requlrements. Matters on whlch we are requlred to report by exceptlon In Ilght of the knowledge and understandlng of the 8roup and the parent charity and its environment obtained in the course of the audit, we have not identlfled materlal misstatements in the Dlrectors, Report included within the Trustees, Report. We have nothing to report In respect of the following matters in relation to which the Companies Act 2006 requires us to report to you Sf, In our oplnion: Adequate and proper accountin8 records have not been kept, or return5 adequate for our audit have not been received from branche5 not V151ted by u5,. Dr The financial statements are not in agreement with the accounting records and return5,' or Certaln disclosures of Trustees, remuneratlon specified by law are not made,. or We have not recelved all the Information and explanations we require for our audlt. The Trustees were not entitled to prepare the financial statements in accordance with the small companies regSme and take advantage of the small companie5, exemption in preparing the Trustees. Report and from the requirement to prepare 3 Strategic Report. 22
Responsibilities of Trustees As explained more fully in the Trustees, responsibilities statèment set out on page 20, the Trustees Iwho are a150 the directors of the charitable company for the purposes of company lawl are responsible for the preparatlon of the financial statements and for beln8 satlsfied that they glve a true and falr view, and for such intèrnal control as the Trustees determine Is necessary to enable the preparatlon of finarbcial Statements that are free from material ml55tatement, whether due to fraud or error. In preparing the financial statements, the Trustees are responsible for assessing the group and parent charitws ability to continue as a 80ing concern, discloslng, as applicable, matter5 related to 8oln8 concern and using the Boing concern basis of accounting unless the Trustees either intend to Ilquidate the charity or to cease operations. or have no realistic alternative but to do so. Auditorfs responslbllltles for the audlt of the fSnanclal statement5 Our objectives are to obtain reasonable a5surante about whether the flnanclal statements as a whole are free from materlal misstatement, whether due to fraud or error, and to Issue an auditor's report that includes our opinion. Reasonable assurance is a hi8h level of assurance but Is not a 8uarantee that an audit conducted in accordance with ISA5 IUKI wlll always detect a materlal mlsstatement when It exlsts, Mi5Statements can arise from fraud or error and are consldered malerlal If, indlvh4ually or in the aggregate, they could reasonably be expected to influence the economlc decislons of users taken on the basi5 of the flnancial statements. The extent to which our procedures are capable of detectlng irre8ularities, Including fraud Is detailed below. Irregularltle5, Including Iraud, are instances of non-compllance wlth laws and regulations. We design procedures in Ilne with our responslbilltles, outlined above, to detect material mlsstatements In respect of Irregularlties. Including fraud. Based on our understanding of the charity and Its actlvities, we considered that r)on-compllance wlth the following laws and regulation5 might have a materlal effect on the financial statements.. employment regulation, heah and safety regulation, and anti-money laundering regulation. To help us Identify in5tance5 Qf non-compllance with these laws and regulatSons, and Sn Identlfying and assessin8 the rlsks of material misstatement in respect to non-compllance, our procedures included, but were not Ilmited to.. Inqvirin8 of management and, where approprl?te, those charged wlth governance, as to whether the charity is in compliarsce with laws and regulations, and discussing thelr polScie5 and procedures regarding ompliance with laws and regulation5; Inspecting correspondence, if any. wlth relevant li¢ensin8 or regulatory authorities.. Communicatlng Identlfied laws and re8ulatlons to the engagement team and remalnlng alert to any indications of non-compllance throughout our audit,. and Considerlng the rlsk of acts by the charlty whlch were contrary to applicable laws and regulations, includin8 fraud. 23
Nicola Wakefield (Sep 29, 2023 09:57 GMT+1)
29-Sep-2023
CHURCH URBAN FUND CONSOLDATED STATEMENT OF FINANCIAL ACTNITIES FOR THE YEAR ENDEO 31¥t DECEMBER 2022 RitddÈd Fund• Tot•li i Ur•ytdttsd Fundb R••trt¢t•d Total 2021 Fund8 2022 E'ooo 2021 £WOD £'ooo £'ooo, £'o INCOME & IXPENOITURE Incom• Don8bMB & Incom ?.176 12 1,145 37 1,112 J11 57 879 736 11 46 463 Inwn9 Chall AciivllleB Noar N•lghboui8 Progwm TiyJ8thgrNetrNoik ¥¢ Finan Found•Uc 2.300 535 77 2.3UIJ 035 Other cCe 213 21 210 InvlMIlDcorne 10 T•t•lkn¢on 2,107 2,102 1,4fj9 3,721 s,1) Exp•ThdrtuM Expanthturnon Ral&kng fu] 408 2e7 214 ExpDnLllureon Chartt4bl• icdvill88 Jildlng 5nd mllbll$lNJ • n•Vond mDv4monl c1141a99 parfnryrb To9•lhei NÈbNork NDtth Dovulopmvnt •$ 201 020 175 292 1ST JJ2 ju Fin•ncè FoufKAUon Wlhdits&h DyiRefkuoeMCCM Dv•ry Piogromm• gc 239 436 1S9 23• 470 221 827 415 1081 S75 40 89 160 N•lwotha Crnallng EnyllerneDI au1I11n9 C8pbdly 244 925 1,ts14 222 •25 1,044 222 145 48 776 3.788 4,177 Da0or•oin ofTogBtherNets¥oth •utitid•ry 1,785 1,7B6 Tot•1 Exp•ndNur• 2,113 N•1 Inoorn•ll•xp•ndllur•l 1,283 1,272 TrnMhr• h•tMn tund• BaGe blOUQhlfoNwd gt 1 Januyry 744 2,032 2,678 3,150 O•i•n¢•• NId 31 D•¢•mb•r 2,571 733 304 1,288 744 IQ3 Tho Ghthty ha8 M mCLwniued or10¥8•5 Dthei n•tmv•mfrnl kn lundi lor y•4r pLxwo. The ¥tMli0f lin8ro81 •¢bvilloA al80c¥ wllh the requif•mirtLS foi•rkn¢om8 and eApwdiwr• ocwunl undet 2006. All It•M8 181ot8 to wnIng op•r8thm9 vAth thfrEx¢bption Of tylè TOgOlh•i Nolth dl84gr¢goied trom group on 1st PAay2022 The nat080n pauw29 to 37 fotm pArt(rtth••• fiTrRnr1 atsternoTrts. 25
CHURCH URBAN FUND CONSOLIDATED BALANCE SHEET AS AT 31 OECEMBER 2022 Company Number." 02138994 2022 rooo 2021 rty)o Not• £'ooo £'ooo CURRENT ASSETS Cash held on deposit 13 753 743 824 632 Dètlors 14 2,120 3,581 2,199 CURRENT LIABILITIES Amounls fallirw rjue wthin one year. Grants awarded bul nol yel due for payment CUF NN Other crethtors 15 47 225 158 277 167 NET CURREMT ASSETS 2.032 NET ASSET8 3.304 2.032 FUNDS Re$ldcied Church Urtian Fund (CUF} Te/delhgr Nohyork MI Just Fin8nc& Foundatlon IJFF) Near Nelghbours {NN) 17 376 225 257 112 150 744 156 733 Unro8lrtcied 2,571 1,288 TOTAL FUNDS 3,304 2.032 These financlal Blatemen18 have b8on prepared in accordance wlth the provisions applicable lo the Comp8nlo$ Act 21M)6 subject to the 8mall companies regirnè. Approved by the Trustees on 18th Juty 2023 and gned on Ihelr bghalf by.. AThJrew Barnett OBE.. Allson Grieve.. The notes on page 2910 page 37 fomi part of these financial 81atem8nts.
CHURCH URBAN FUND
CHARITY BALANCE SHEET
AS AT 31 DECEMBER 2022
Company Number: 02138994
----- Start of picture text -----
2022 2021
Note £'000 £'000 £'000 £'000
CURRENT ASSETS
Cash held on deposit 13 743
Cash at bank 471 385
Debtors 14 2,120 628
1,756
CURRENT LIABILITIES
Amounts falling due within one year: 15 397 243
NET ASSETS 2,947 1,513
FUNDS
Restricted 17 376 225
Unrestricted 2,571 1,288
TOTAL FUNDS 2,947 1,513
3,344
753
----- End of picture text -----
Approved by the Trustees on 18th July 2023 and signed on their behalf by:
Andrew Barnett OBE: Alison Grieve:
The notes on page 29 to page 37 form part of these financial statements.
27
CHURCH URBAN FUND CONSOLIDATED STATEMENT OF CASH FLOW8 for tho y•8r •ndgd 31 0•¢gmb•r 2022 2022 2021 £'ooo £'ooo £Y)00 £'ooo Rgconclllatlon ol n•t mov•mont Sn lunds to not C4sh from op•ratlno actitIo5 Ncl In¢ornclloMpcndlturel for th¢ roportlng perlod las per gtatwn•nt of Ilnanel•l •¢tlvlll••l 1,272 11.1261 AdJu•tm•nt• for.. Ilncre8sel in d8btors In¢reagellD&cre89el in credilorB {1,4881 110 1200) 12881 11,378} 14881 N•t ¢a•h lumd Inl op•ratlng •ttl*AtIos {1061 11,6141 Chang• In ¢uh •nd rAsh •qufval•nt• In th• r•p¢)rtlng p•rlod 1106} 11,6141 Ca•h and cash •qulv4l•nl• •t th• •¢art th• r•portlng P•Tl¢)d 1,567 1,461 3,181 1,567 C8$h herd on depOt Bank Ca8h •nd Cash •qulvalents at the •nd ot lh• r•portlng p•rlod 753 708 1.461 743 824 1.567 rh8 notes on p8g& 29 lo page 37 forffl part of these finBnclal slalements. 28
CHURCH URBAN FUND Notes lo the Finanelal Statements for the year ended 31 Dec8mber 2022 1 ACCOUNTING POLICIES Basls ol prop•ratlon The financi81 sialements have be8n prep8r6d undèr Ihe historical cost convention and in accord8nce with the Siaiemenl of Recommendéd Praelice ISORP)"Accounting and Rèporting by CharS118s" applicable to chariues preparfng lfveir accounts in accordance with Ihe Financial Roporting Slandard applicable In the UK and R8publlG of Ireland IFRS 10218ff@cllve 1 January 2019, Charlt18s SORP and th8 Companies Act 2006. The consolidated financial statements of the Group incorporate the financial statements of Ihe Charity Church Urban Fund 8nd 118 SLJbsidiaries, Naar Ngighbours, lh8 Tog8lher NeOrk and Just Finance Foundalbn. No s8par8te Statement of Financial AcliMlie8 is pro8ented for th8 Charlty. as permitted by the Compan188 Act 2006. Not movgmenl in funds for the Charity alone for th• year was a surplus of £1,435k12021.. £6Q7kl. The Trustees have rovWed the ch8ritls flnancial posilion, ¢on$ilering the levels of reserves, cash position 91 slr81&glc p18n, in ad(Jllion lo ils financlal and risk man8gement sysiems. The Trustèes and S8nlor Man8g8menl Team have ¢onllnu&d with a number of measures su¢h os a delall8d bud981 and cashflow forgco81. &xpendllure contro18, and Ihe close monllorfng of cashflow. Accordlngly. the Truslg9$ have a r8ason8ble expeclallon Ih8t the ¢harlly has adequate resources to conllnug In op8rallonal exlslence for th8 lore8eeable lulure. Thu8, ihey conllnue to 8dopl the golng ¢on¢ern b8818 ol accounllrrfJ In preparing Ihe 8nnual Financ181 Slalemenls. b. Incom• r8Gognltlon All income is recogni58d in the SOFA when the charity has gnlitlemenl to the Income, it18 probable that th8 income will be rec8Sved and the amount of income recelvable can be measured r81iably. The folowlng speclfic policies apply to the calegorios of Income.. Donallons Include lax recoverable where applicable, and are recognised when receivable and also th8 charity has been nollfled In writing ol both amounl and selllemenl date. L¢gaclè8 are recognlsed on a case by casè basls followlng the granllrrfJ of probat¢ whon the admlnlslrator or executor for the eslatg h8s communicated in wrluro l)oth the amount and settlement dale. Grnnt8 receivable and Trust In¢ome are 8ccounled for In Ihe year to vthich Ihèy relale. c. Exp•ndlture recognltlon Li8bilitles 8re recognised as expenditure ag soon as Ihere Is a legal or ¢on$tructive ci)1Sgallon commilllng the charity lo that expenditure, il is probable that settMent will be requlred and the amount of the obligation can be measured reliably. All expenditure is aGcounled f(x on an accruals basis and has been classifièd under headings that aggrega19 811 ¢0sts r&lated to that category. All expenses including support costs and govemance Gos15 are allocated or apportioned lo the applicable expenditure headlngs. 29
Gronls payable are payments made to third p8rties in the furtherance of the charitys objectives. Grants Bre charged to thè Statement of Financk41 Acliwtios when they are awarded. Gr8n18 to N88r Neighbours Delivery Parlners ore charged to tho Slalemenl of Financi81 ActivlUes when th& funds hav& been transferred lo the reclplent's account. d. Support costs The support costs for gran18 Include the costs of a$se$$ing. reporting on, facilitating the uso of and pawng grants. Support costs relaling io charitable acllvllles have bèen apportion based c)n the stafl lime spenl on tsach actlvlty and analy8ed in nots 12. f. C08t of ralslng fund• The co81 of fundraising comprises costs incurred in encouraging churches, individuals, and trusts lo ¢onlribul8 to 118 activiti88. g, Charltablg actlvltlos Cos15 Of charbtable aclivlliey Sncludes grants made and apportlonm8nt of support costs as shown In nola 12. h. Inve8tm•nt roturns Investment income is o¢counled for when feceivable. i. P•n•lon¥ ¢o¥t¥ The chanty operates a defined penslon scheme, Church Urban Fund Pen3lon Plan wllh Legal and General for Bll employee3. The contributions lo Ihe defined Ctribution schernes are accounleé for in the year lo which they relate. Costs of the eonlribulions to the sd)eme Is accounted for In the year to whlch they relgte 8nd includèd wilhln stsff ¢osl$ (note 101. The charlty has no liability beyond maklng 118 ¢tsnlrlbutbon8 and paying across the deductlons for the emplo&,8 conlrSbulions. . Fund structur• Llnr¢8trl¢t•d fvnd• r•pre$onls funds recolvgd that are avallable for use al the dlscretlon of the tru81808 for any purpose Sn furth8r8nce of the obje¢tlves of the ¢h8rity. Re•trlcted funds represents fund5 received that are subject lo spaclfie r881rlcllve condilions imposed by donors (see note 17 for more delalls of restricted funds). k. Op•ratlng l•a8• Rentals payable under operating leases are charged against inoome on a slraight-line basis over the lerrn of the leasg. i. Tanglble flxèd assèts and pollcy on capltallsallon Capital aédilions which do not exceed £10.000 are expensed in full In the year of purchase. Thar9 were no langiblg f9 assets in 2022 or 2021. 30
. P2SULTS OF¥LIlDRY. IIW N8¢alBOVPS N•Qu Imh¢J bygu9rÈT crgaW B conk tsippeup con ai NoWouM from IhBDxtunthilof L•¥•llry Up. Hknll (c¢10ndk(rf ts Churth ltrb0nFU. 212t InCcl trom CMrIabk•Acts1s. DLUHCvk Crth lfjcome Irom 2.300 244 1,D44 6&1n9 Copg¢My YrAry LgBdDrs Rmipw mor1 Talk 102 ZD TrOrt0¢PutthVFUr BlllanGV ¢wknJfrJrward otjl D¢¢•mw J. REIULrtOF 8UVIIjMI. TOGEThUIIIETVIORK Tr4•lMf, 0¥#¢N 301hApi112U22. ehuitsh Uthn Fund Olhrexi•rMI 1cL¥• T•t41 IwnlAurq &l•ne• bll•lm1fa2 T¢t4llnw• Tot41 nfwqhpilryN TTrpThrlM IIB byCUF th• D.An ldlF1•. Irgp. Th) 114241IwCtyM4dilEmikna Wd•lMg. no. 11WII. 4. Ne•uLT8 OF8U8BWAIEe.JUJT FWMICE FOUMOAnOM mbBraftrLMlo 10201e6F Wndcmnwrn1 1172080. ¢¢m• 148 Ir¢i•n¥ fr(ND Coipor•i•$ IrrfXB fTlm C1118*01lVth•l. 2t FiW¢ialCwly Lltb$awi4 Crrtryd Cash R•www 17 82 9$ Tot•l•xp•n&lw• 24D 16 brwuN lon¥4td al l Januwy 201 31
.IN¢LYIE PRoMoobunoM8 #AID LEIUCf8.CL ¢•0• Toill Lknr••trd TIA•I 455 2.178 & IN¢IXIÉ FROM IRLtyTS.CI 2022 lknr•lLrkthd Totyl Don4¢1 TM81 Thq LKgndTerryBtBmBI1Fnd SW 40 21J 213 1>2 7. STAnii¢RY INCOhlE-¢UF 2012 LknN•til¢t•d T0141 PuLllcFuth". DLU J7 I. INClIOI10THII A¢IMnE•.CUF 22 2022 2021 roDD Lw••irl¢tid A••iflvi•d T¢x•I knhblthy. To91N•k r(ffimb•ra 203 203 •. ExpirKimJRI •1• ¢o•¢• rooo (nof•4v4J t•1¥ Fund 231 lh.bwd pwnorx 32 Equlpgpwknto Nko J1 Wlndiuih D•w•lL44•MCCMI1 471 07J Piyyuiiini IÉYI 925 CroRting knpllying gr•iJroots ¥dc•J141 45 215 lJJ3 27• 4177 Dwgteg41ty701 NAIw4k gA euiLOWG A1 Mowu$ifKANATVJMIL p4o¥e¥EiifoF FAITblaASEDPmlM.'TOG•ThIA MITNOAK 2021 Progrnmme Co•1• SW co Supp LThl¥ 32 OD¢onJrljdkn oths I01n0(lI¢2OZI". £dl4d?dtohfjfthlSjW*O {thxo 3).
•t+. WJILD140 AMD ItyXISINQ A rthT•ALfdlwE11£NTOF FAITH4A8ED PARTMERS.. NETWORK DtveLOP¥EMT Éwo C•pOthylry & even 1• sU(ty¢ty 02 292 35 9L EW•HNGPIOPLEIO MAKE A BifioER PFFERENCE.. JUSTFifuMCE FOLifioATThI 2421 EY•0 PrLyamTr COIIS wtto816 to&lÈ 4J 13A 90. E+2UIPP•Ifj PEI)PLETOAIAKeA BhlOIR DFcE.. WNDRU8HDAYIftEFuOÉEfC •oo $23 NDt Stslfco6ta Wr#db•ck4 of&• reMgr•n¥ •YardfyY o••nuncWm•J. q•. RQUIPP40 PIOPL&TOIIAKE A wafjiR DTrFtReiici.. OlLIVIRYPROWJMAI• w45rdIr Grwy Goo IJJ 23 221 EQUIIWNGPQOPLITOMANE ABI¢JOER DITFeRtIlCE" NI•A NeioHBOURS PROOlil11E W. NEfiioA 20 FL1ry PIMvBryPbnn•M ThrtW4 Trothr Blrnlryhim St PNllp'i Cprti•. L01rMtBr Noii¥To9oIMr. Ntsllkn)) Cwlro loi Elst 63 77 Jnu'B C1, Wmi CrArI1 Tvq•lhw. 07 8ndqqs S18 13 25 e3 82 23 42 . CREATING ENQAGEriÉrrt coo• ¥wllob8Ek8 U1¥d N#1 gr* stbtt crd 020 33
gh, OLlILDWt>C•AGy Deiwèry Y4JunoL•thrv OVCty4dkng CWIy51 Pwramm IB EKpcl ProDTaihim¢ rwo 25 Re&1 Pew HDnqslTa tsfH L•8thrRtrdplDrEff•llUv•¢h 43 99 50 212 AmPLFYINOGRA88ROOT8VcEB 2022 Ird prlniin9 PromoOnn prod11 R•MAf¢h gvaiuAW 8t¢11• SupCts T4 3•5 10. 8TAFFelMT 843 SwW$•Arlty kfiyrn4nwJThnl ThJii. CtrlllfExcCul Offkx. DIrttOIoPPi0trrn iio M•i¢h20221. DytyGwCEO Il¢om Ith XP71. Ll Pttrtrnr%Npi. 0tr5clwpro0rnMOIOffl0 Hmdot F{10 Qohbw 10221 Flnqnce •r ¢3yv•M•r¢• lfrtsnAwt 20221. Tho ioilr•4ufthrfy¢oiii dWlYJ Iho acru48 Ih 9rwwuE3k12021. TMtoi•l OMptyThM 01. lffldwjing omthrgor•lw¢wirt)AbrtMYnE)8th12021.. t••tyl•Ofrvffi ¢29lkb£J22kl. It6Th000.£70.LV)I l£mOOO-Eeo.rwi .009. £90AWI 11. sTF IIUMBER8 FMdrJtsi 1gNgemgrf¥l•<n1•1r•lion 0th•rknxbdCUF xvre TrNi¥i¢ 2021 N•. bYlrieei fc¢r¢ >WI#£ni11202I." Érdi. 34
I2.LoCATlI OV SLWOPTCOSTS Totrl 2022 roDD Toi•l 79 44 olh¥lR¢¢rI1l. offlc• IJ3 11 CASH HELDON tsDO8 6Mup and Chldty Its22 2•21 £WD CCIA ThoC8F CtrvGhrAEty Depc411 FLIJ.¢LVtth 75Y 7$3 ar 2D22 Crtty 21 2021 d¥btwo L•4BcI UonAlkY• (Vow1#. ¢Tdll L¢è} DEbl(tT• 2,C? 87 87 2.1 15, euTtNV4TLL4eKfflE• fjrwp hthty rooo Anwrt•hiiihothJ• on•yMr,' nl• NTr4ln 191 47 17 18J 10 1•. IN1&y FON LAL ACTI Eno•9•mw euFPfow•mMI T0141 TOtl 1•22 21 rooo t•oo aèrovjhtf0rlrd 194101 74 620 313 74e 124 ni 44 19 Olll•h¢• gf9F•m• 35
- RESTRKTEDFVNDS Trnn•f b•tr••n I$ ?D21 2021 JF Pwr•mme Vllndrush Day Grp Grfjnl 140 134 370 Nwr 150 316 2JT 11961 347 744 2.1 733 TwINh0¥GIIrI9 etJrplp on. thBcontiIbuln Tr11 vl1rth.h aLrlllJll In ttOMMLthU. ThB oohvqry Proufwnmo Iptftviw Dawknpm•DII cosm liVPDrtPFODramm86wllrkaos1 lh• ¥K. rn9N•I NOWW4piogiiMm•e• Th•TVllwtrwN•lJI io t0 Engknl LIr0 ofmobikninll I•1 lo1¢ rty I•. OPWTINaLUII L•nd Bu5th0 2022 t•rp) 2011 lswr In 0. CVF Ipll. piia |Dr•rtioTrFouThyowhw 2 ¥1(1., £Ykkl l•0 ir)uipp40 peopLe TOMAKE A•MEROIFFWéIMCÉ.. bllNORU•H DAYIREFUQEEhYceu aNAKr$ 6PANT•AVIADEO#I 2ley IECTCII 20 roD y' commwq RLY001 &A#Wum SaokLYB 494 128 2) 52) I•ty IhWIAItPlO IN1•21 •Y nWlt)fiiD 2022 2•21 h&We Bthlrrtthn BriA 2) 10 39 ea trac1• Cov•r Ex•l•r suX Ldce& 2# 49 Lkmg LIrkn Lorthi 70 12 p•th0 SI SLEdmUthh& IL¥w 17 33 14 74 •$14r Yr Or•rtBAw•rthd bthrA wroki (M•tl¢lt•lthJ saj 36
20•. NEAR NEb3NIIDURS FROORAIIME. CREATIN0lI79EIENT 20#8Y KTMTY
Y•J•
Nojr SM•1 ¢)ror
270
RolelMW8k•dGrnnkq
b. MBGMBOIJV PRcty3RAm-cHE4T ENQAOEMEMT IN2V2 DV REGPJN
£Y40
22
Thth To4owr blrmlngh•
ng'• t4nlm, Wlsl LLon
fygwtymx. Lthi
Tg
4?
62
27
16
TT4fiifLYmkny I4T¢9
P001Dgh
11. HITALy8 OP A••Ef• ANO UAuimE5 by PUND
••irf¢tsd
Il••l
2,19
77
71
7JJ
2,)71
J70
2947
Jwt FlnurKo Faul•11
25T
304
ru¥jrIp Irth# tm Cth