UCCF Trustses Report and Flnancial Statsments 2023 Universities & Colleges Christian Fellowship Company limited by guarantee and not having share capital Company Registration No. 387932 Registered Charity No. 306137 in England and Wales Scottish Charity Registration No. SC038499 Report and Financial Statements for the year ended th 30 April 2023 Universities and Colleges Christlan Fellowship (UCCF> Blue Boar House 5 Blue Boar Street Oxford OX14EE T: 01865 253678 E: info@uccf.org.uk W.. www.uccf.org.uk Christian nions
UCCF Trustees Report and Flnancial Statements 2023 Contents REPORT OF THE UCCF TRUST BOARD...................................................... INDEPENDENT AUDITOR'S REPORT......................................................... 11 STATEMENT OF FINANCIAL ACTIVITIES.................................................. 15 BALANCE SHEEf........................................................................................ 16 CASH FLOW STATEMENT.......................................................................... 17 NOTES TO THE FINANCIAL STATEMENTS............................................... 18 PROFESSIONAL ADVISERS Main bankers Sollcitors Audltors HSBC Bank plc The Clock Tower 2-6 Gallovrtree Gate Leicester LE11DA AntnY Collins Solicitors St Philips Gate 5 Waterloo Street Binnlngham B2 5PG Mazars LLP Park View House 58 The Ropewalk Nottingham NG15DW Page 2 of 27 Christian nions
UCCF Trustees Report and Financial Statements 2023 REPORT OF THE UCCF TRUST BOARD (Incorporating the Trustees, Report) For the year ended 30th Aprll 2023 Th8 Truste8s of th8 Univ8rsitl8s and Colleges Christian Fellowship ('The Fellowship.) present their Annual Report and the Financial Statements for the year ended 30th Aprll 2023. CONSTITUTION The Fellowship is a registered charity (No. 306137) which is a federation of evangelical Christian Unions govemed by a constitution dated January 1999 and subsequently revised in 2003. OBJECTIVES & PRINCIPAL ACTIVITIES The policies of The Fellowship remain those contained in its constitution. In summary this is to bear witnèss to Jesus Christ as Saviour. Lord and God in the student world of Engtand. slIand and Wales in accordance with the doctrtnal basis of The Fellowshlp. The Fellowshlp Is committ8d to evangelism, world mission, Biblical truth and spiritual growth. The principal activities are.. To co-ordinate the work and to unlte the members of the Chrlstian Unions fcus.) In thelr witness lo the Chrislian failh in acc(dance with the doctrinal basis of The Fellowship. To advise or assist Christian Unions in the work and to help create Christs'an Unions where they do not y8t exist. To produce and circu18te literature and materials designed to advance the Christian faith. To help CU members to apply Christian faith intelligently to their thinking and behaviour in all areas of life including their academic studies. To mentor key undergraduates and help them transition wall to work after graduation. To stimulate amongst students and fomier students an interest and active participation in home and overseas missions and In the work of tha churches. Public Benefit The Trustees are mindfvl of the Charity Commission's guidance on °Charities aTrJ Public Benefiv and have embraced it. As stated above. UCCF'S overall objective 18 to help students bear witness to Chrlst and hls teaching. Thls includes equipping them to demonstrate the love of God in practical ways. This report Seeks to give examples of that public benefit in action. Achlevements & Perforniance Key achievements during the year have indud8d: In S8Ptemb8r, 985 CU18ad8rs attènded Forum ¢onferen¢e in Shropshire, to train and equip them for the following year of CU mission. Regional Forums, to train new CU leadérs, wère held in the Spring, with 771 leaders in attendan. Over the year Cus ran focused tlmes of outreach with at lea¥t 89 fre8her8' weeks, 54 ¢arol seryices and 101 Cus involved in autumn and spring events weeks. Sludents continuing to be equipped through onlin8 resources. including a monthly email with 1,923 subscribers. CU Impact Groups (small groups) have flourished over the last year. with 4,500 monthly page views of Impact Group material, which is tsilored to both established members and those relatively new to Christianity. 65.811 page views per month to bethinking.org, 542.000 visitors annually. an increase of around 100/0 year of year. We have 13.000 subscribers to CU News. our monthly supporter news email. and 797 subscribers to Conn8Ct, our rnonthty email for St18nt workers. The Christian IKF Unions Page 3 of 27
UCCF Trustoes Raport and Financlal Statsments 2023 Future Plans UCCF hss continued to build off the strong post£ovid foundatlons lald st year. In-p8rson natlonal. regional, and local training has taken place as well as mentoring. 1. Impact Groups (x)nlinue to be the entry point for the new g8n8ration of stLKlents coming up to university. Impact Groups across GB will be strengthened with high quallty vldeo and wrltten materials that will enable these groups to Impact the spiritual and emotional well-being of memb8rs and galvanise them to impact the wider campus viith the good news of the gospel of Jesus. 2. The Leadership NeINrk (Arts, Apolog8tics, Music, Politics, Science. Teaching. Theology and Law) will continue to develop first-class dlgltal r6sourc8s across the disciplines and will mbine its growing online presence at three national residential gatherings, local Hubs and week to week mentoring at a local level. Combined with our Intern scheme (Relay), the Leadership Network programme enables us to identify, mentor, and train a new generation of thought lead8rs. 3. We are working tOW8rds the launch of a new Uncover gosp81 project in 2025 and look forward to the gospel impact on every university in Great Britain. 4. The Stsff study and development programme has been re-written so as to b8St equip stsff members for their spectfic ministry. We continu6 to provide regular specialist training to senior field staff as well as our CU Staff Workers. 5. We hav8 largely completed updates to our websites but to address our dlgital estat8: software system51functions whFth will enable the core ministry to bè more effectively supported. The new CRM software plaffonn is already being used lo support and grow our development capacity and to serve our supporters more effectively and the plan is to us8 that to increasing effect over the coming years. 6. Our research department wlll continue to develop a niche work with key Graduates and Postgraduates in partnership wilh other organisations and will help to identify and mentor a new generation of emerging Christian acadèmics. The Fellowship Continues its ongoing ministry of building both national and (in partnership wtth IFES) Intemational outr88ch. expanding strategic partnerships and providing support StrUctuS that are relevant to the constantly changing context of universities in Great Brilaln. FINANCIAL REVIEW The result for the year was a net decreas8 in furKls of (£99k). We are truly grateful as reflect on the financial journ8y of the past year and the unwavering commitment you have shown to our ministy. Your partnership and generous contributions have m8de a profound impact, alk)wing a new generation of students to encounter the life-changing message of Jesus Chrlst. Our budget for the year originally Induded a deficit before investment gainl(loss) of £504k, taklng into account expected staffing levels and predlcted donations. HoVver. we ended th8 y6ar with small deficit before investment gainl{loss) of (£42k). This was made possible through a combination of high6r legacy inGome and prudent cost-saving measures. induding careful management of stafflng vac8ndes. Alongside the rest of the UK. we face the implications of prevailing economic challenges, such as rising inflation and increasing fu81 and energy Costs. To address these challenges we have d8veloped a three-year strategy. seeking to foster sustainab18 growlh across our income streams. Our new donor relationship management sofiware wrll play a crucial ro18 in this by enhanoing donor support and 8ngag8ment. We are particularly looking to grow regular giving as well as incréasing our connectlons with graduating students, ensuring they remain part of the fellowship 8nd can ontinue to support this ministry with both prayer and financial support. Page 4 of 27 Christian nions
UCCF Trusteos Report and Flnanclal Statements 2023 We nISe the importan¢e of navig8ting these hurdles together. We continue to pray and glve thanks for your unwavering support, kn¢)wing that we are not alone in faGing these challenges. Income: Our income has increased from the previous year. which can be attributed to several factors. We received particularly generous contributions from trusts and churches, incfuding a one-time grant towards our next Uncover Gospel Project, Set to1oun¢h in 2025. Our largest Source of donations is from individuals. ¢ontribLrting to over half our income. Although individual giving decreased by 50/0, likely infiuenced by the e¢onomi¢ Climate, we are incredlbly grateful for the steadfast commitmént of our regular donors. Wè Vnt to extend our heartfelt thanks for the ongoing vital prayer support. as we commit Ihis work to the Lord. Additsonally, we are immensely grateful for the exceptionally high number of legacy gifts received in the past year. These legacies, Ihough challenging to predict. have signfficandy impacted our ministry. enabling us to continue our work in a powerful way. Expenditur•: It's vital to properly care for our staff and invest in our team, as they play an instwmental role in transfomiing the livos of counuess students each year. Consequently. our staffing costs constitute the majorlty of our expenses (70%). This year Implemented a 6% pay rise for our staff members, addressing the need for increased financial security and continued ministy on the ground. Our governan costs experienced a temporary increase due to one-time expenditure associated with an ongoing inv8Stigation regarding of UCCF'S Dir8Ctors. As an organisation, we romain )mmitted to transparency and accountability as we navigate this process. Looklng Forward to Next Year: Our b1get for the upcoming year includes a projected deficit of £871k. We expect our total expenditure to increase. primarily driven by salary costs. In response to the rising cost of living, the Trust Board has awarded a pay rfs8 to all staff, equivalent to 5Vo of a staff worker salary, resulting in an additional £134k in annual staffing costs. Income is budgeted to decrease. partly due to the 8XP8Ctailon of r8c8lving f8wer légacles in th8 coming year. While legacies have blessed our minlstry slgnlflcanily over th& year. they ar& challenging to predict. As a result. our expected income contains a modest legacy prediction. We are steadfast in our commitment to be good stewards and maximise our impact through the careful management of your generous support and diligent cost controls. This plann8d budgeted deficit will be funded from our general reserves held in (ash and Invesknents as we work to reduce the gap between regular income and expenditure. Ovér 100 years ago Noman Grubb had a vision for every universty to have a witnessing Christian Union. and today w8 rejoice that sludents continue to h8ar th8 gospel through Cus. Thè support of our donors ensures that the gospel continues lo be proclaimed by Cus in universities across Gr8al Britain. Thank you. The Christian nions Page 5 of 27
UCCF Trustees Report and Flnanclal Statements 2023 PRINCIPAL RISKS & UNCERTAINTIES Risk Management The Trustees have sought to identify the major risks to which The Fellowship is exposed and have establlshed controls and actlons to minimise potential adverse outcomes. These risk6 arvj rnitig8ting actions are set out in a comprehensive and detsiled risk register. The strategic and operational risks are identified tor each area. together with an explanation of how they are being or will be managed. The register is reviewed fomially by the Trustees on an annual basis but is kept up to date with regular input from the Executive tearn to identify emerging or escakgting risks. Risks are scored against probability and impact criteria with mitigating controls. monitoring processes. and action plans wnsidered ft)r all risk areas, Th8 Truste8s also revlew on a regular basis the major finanaal risks that The Fellowship fas. By maintaining free r8s8rv8s at the target levels, and regularly reviewing the controls over key financial systems, The Fellowship will ensur8 that it has sufficient resources in the event of adverse conditions. Principal Risks The princlpal risks ar8 thos8 which could affect our financl81 posltlon, our fundraising capabilities. or our IT systems and in¢lude'. Reputatlonal risk due to adverse publicity and fear of religious extremism. Risk of corruption of IT systems or data and unauthorised access to central IT systems. Risk of a targeted attack on UCCF'S Christian values. Volatility of income reiVed frorn individual donors arKI trusts which is difficum to predicL The Trustees, assessment is that adequate control measures are in place for the identified risks ar¥J that the ongoing monitoring prOsS and reVW by th8 senior management t88m is sufficient to ensur8 th81 any n8w risks ar8 Identified. WAR IN UKRAINE The Fellowship does not operate in either Ukraine or Russia and no key suppliers are located in either country. The Board's assessment of this highly tragic geopolitical Situation is that The Fellowship is not impacted dir8dy at present, and the situation will remain under r8Vi8W. STRUCTURE, GOVERNANCE & MANAGEMENT structure UCCF exists to engage in evangelical and evangelistic Christian work in tertiary educatlon institutions. The UCCF Trust Board is the primary Committee within The Fellowship having fully vested powers of govemance as further set out in The FelI0vhIp's Memorandum and Articles of Association. The UCCF Trust Board continues to devolve certain levels and types of executive authority to The Fellowship's varfous operating divisions. but it retalns ultlmate responsibility for all the work of The Fellowship. The Fellowship is affiliated to the International Fellt)wship of Evangelical Students (IFES) and is thereby identified with other member movements around the world. All Trustees give their time voluntarily and do not receive any personal financial benefit from The Fellowship. The Christian nions Page 6 of 27
UCCF Tnjstees Report and Flnanclal Statements 2023 Composition of the Board The membèrship of the UCCF Trust Board at 301h Aprfl 2023 vms: 1. Mr Simon Day Ilnterim Chair) 2. Dr Christopher Willmott 3. Rev Raymond Brown 4. MB Jenny Brown 5. Mrs Jenny Charterfs 6. Prof Glynn Harrison 7. Mrs Ablgail MarthinetQlover 8. Mr Stephen Rigby 9. Rev John Stevens 10. Mr James Mackenzie Inknerts durin the 1•t Ma 2022- 30th A James Mackenae appointed 24 November 2022 Simon Day appointsd 26 January 2023 il 2023 nod bein rted R•si None nations durln the 1st Ma 2022_ 30th A 112023 lod beln re rted Intmonts and Re61 natlons after 30th A authorisation Mr Jai Padam appointed 21 June 2023 Mrs Jenny Charteris r8s#Jned 7 September 2023 Mr Glynn Harrison r8slgn8d 25 September 2023 Mr Stephen Rigby resigned 25 September 2023 Mrs Abigail Marthinet-Glov6r resigned 2 Octobar 2023 Mr John Stevens resigned 2 October 2023 Dr Christopher Willmott resigned 9 October 2023 12023 but rfor to flnanclal slatsmgrt Appolntmont, Inductlon and Tralnlng of Trustees Trust88s are elect8d, or agreed re-elected. on a defined rotational basls and new Trustees are provided with a suitable induction into The Fellowship's objects and ways of working from a govemance perspective. The procedures and training in place for new trustses are detsiled below. The new Trustee is sent.. °The Essential Trustee- What you need to kno%rf- Charity Commission publication Memorandum & Atticles The Constitution 2004 Govemance Manual 2006 List of Trustees & Members The new Trust86 signs: Doctrfnal Basls - re-slgned If and when thelr Trusleeship is extended beyond three years. ststgment of obligations as a Trustee. Declaratlon of Interést and than slgned at 8v8ry subsequent AGM. Various members of staff also routinely attend the Trust Board ex-officio {non-VOting). These particulady indud8 th8 Dir8Ctor of Christian Unions. th8 Company Secretary, the Field Director, and the Head of Finance. Statsment of Trusts•s' Responsibilities Th8 Trustees are responsible for preparing the annual report and the finanoal statements in accordancè with applicable law and United Ktng¢SJm Accounting Standards {United Kingdom Generally Accepted Accounting Practice). Page 7 of 27 Christian nions
UCCF Trustees Report and Financial Ststements 2023 Company law applicable to charities in England and Wales requires the Trustees to prepare financial statements for each finanaal year Ihat give a true and fair view of the charity's financial activities during the year and of its financial poS.0n at the end of the year. In preparing the financial statements. giving a true and fair view, the Trustees should follow best pra¢tlce and: Select suitable accountifvJ policies and apply them consistently. Make judgements and estimates that are reasonable and prud8nt. State whether applicable accounting standards and statements of recommended practi have be6n followed, subj'ect to any material departures disclosed and explained in the financlal statements. Prepare the financial statements on the going concern basis unless it is inappropriate to pr8sum8 that the charity wlll continue in opèration. Th8 Trust88s ar8 responslble for k8eplng prop8r accounting records whld) dlsclose. with reasonable accuracy, the financial position of The Fellowship and which enables them to ascertain the financial position of The Fellowship and ensure that the financial statements comply with applicable law. They are also responsible for safeguarding the assets of The Fellowship and hence for taking reasonable steps for the dètection and prevéntion of fraud and other irregulerities. UCCF has Dlrectors 8nd Officers Insurance whlch covers trustees for daims first mada agalnst UCCF or a named trusts8. RESERVES POLICY NOTE- in this s8ction the tenn "reserves. taken to mean unrestricted, free cash resetves that are re8dily available for use and thus excludes reserves taking the fom? of fixed assets or other restricted reserves which are funds received for specffjc project work. The Trustees recognise that reserves are essential in order to ensure that fluctuations in income do not have a detrimental kno¢k-on effect on the work. They have adopted as a policy thal a cash reserve equating to eight weeks of operating costs should be maintalned, calculated on the basls of an annual budget. The Twstees believe that thls balances the need to apply funds to the mission whilst ensuring that there ar8 sufficient funds available to run the day to day activibes and manage any financial risks or any short-temi incom8 volatility. At Ihe end of the financial year, free cash reserv85 tota118d £641,796 and represented just short of 8 YekS of operating costs. The Trustees feel that these reserves along with our investments. whlch can be withdrawn in 10 days, provide sufficient liquidity and security for any short temi volatility. INVESTMENT POLICY The 'growth° portfolio strategy seeks to generate a r8tum above irfflation over th9 long terrn, but wilh a level of risk that is acceptable within the volatility of the market. The portfolio is structured as capitsl for the long temi. but nonè of it Is Illlquid, meaning it Can be readily acSSed should the need arise. Incom8 generated from the pital is paid into a cash accounL allowing the Trustees to decide annually on whether to spend the cash, carry It forward or incrèase the capital. REMUNERATION POLICY UCCF seeks to be a good employer, both stewarding supporters, money and providing staff with a alistic salary so they (xn afford neoessities such as nt. focrfj, and other living costs, as well as leisure activities. In this regard. UCCF seeks to be an attractive employer to polential candidates and to retain excellent personnel whether single. married. or with a family to support. Page 8 of 27 Christian nions
UCCF Trustees Report and Financial Statements 2023 A fellowshlp-wldè pay Increase is considered on an annual basls and Is primarily dépendent on UCCF'S income. The pay increase is based on a range of indices such as the Retail Pri Index and Consumer Price Index. Consideration of what other organisations are doing regarding salary increases is made on a semi regular basis. This % pay increase applied to all staff is recommended as part of the budget and this is then reviewed and approved by the Trustees as part of the overall budget review. Salary benchmarking for certain roles Is (arried out when recommended by the Trust Board. The last revlew for s8nlor staff was completed in September 2015 wth the ¢ondusion that no adjustment was required at thattime. All staff are paid above the r8comm8nded living wage and those VrkIng in London are paid an additional London allowance. In addition to salary and employee pension. UCCF provid8s1rf8 insurance for staff who have a financial responsibility to a family member while th8y are worklng for The Fellowship. CONTRIBUTION OF VOLUNTEERS Some sixty volunteers (known as 'Relay Workers,) worf( closely along$lde our own CU Staff Workers as part of their Iraining on the Relay scheme. Relay Workers stay with UCCF for ten months, usually joining the scheme Short after graduating. This scheme is a significant part of the woth of The Fellowship. A number of volunteer Associate Staff Workers contribute to our Vrk locally in various ways. AUDITORS A resolution to reappoint Mazars LLP as auditors to the Company and to authorise th8 Trustees to fix thèir MUneratIon was approved at the Annual General Meeting held on 241h Nov8mber 2022. Mazars LLP have expressed their willingness to continue in office as auditors and this will be submitted to the Annual General Meeting in November 2023. CHARITY FUNDRAISING UCCF is a FelI0vhIp of students, staff. and supporters. Al three groups ar8 needed to a¢hieve our vlslon of giving every student in Great Britain an opportunity to hear and respond to the gospel of Jesus Christ. Therefore. it Is Important to us that wa are good gospel partners and communicate well with our supporters. The Development and Communlcatlons Team support and train all stsff in fundraising best practice so that together wè 8ffedively resource this mlnlstry through financial and prayer support. We do not use any fundraisers or commercial participators. As an organisation registered the Fundraislng R8gul8tor we are committed to best practice and upholding the Fundraislng Promise of legal, open, honest, and respectful fundraising. We pay the voluntary levy. and we abid8 by the Cc)de of Fundraising Practice. Th8 relevant members of the Development and CommuniGgtions Team arè members of the Inslitute of Fundralslng. In the 2022-23 financial year UCCF received O fundraising complaints. Policies are in place to handle and investigate fundr81sing complaints should they arfse. We are comrnitted to treating our supporters well and being gt)od gospel partners. We hav8 slgn8d up lo rec8iV8 suppressions under the Fundraising Preference Servi. We have also followed guidan from both the Fundraising Regulator and the Institute of Fundraising on how to ensure we protect vulnerable people and others in connecting with our fundralsing. We recognlsè that some of the people that we engagg with through our fundraising activity will not always have the capacity, at the FM)int of the interaction. to fulty understand the nature of the Page 9 of 27 Christian IF Unions
UCCF Trustees Report and Financial Statements 2023 donation they a being asked to glve to UCCF or the consequences of making that donation. UCCF also understands that peop16 in vulnerable circumstsnces may need further support bèfore making decision about whether to make a donation. We therefore have a policy which provides a foundation of awareness 8nd knowledge which enables all UCCF fundraisers to respond appropriately to people in vulnerable circumstances, putting the needs of the individual first, above and beyond securing a donation. It 8pplies to all UCCF staff and volunteers who undertake fundraising on behalf of UCCF, that includes the Development and Communications Tearn as they fundraise centrally, and Staff Workers and Relay Workers as they raise personal support. OUTCOME TO THE INDEPENDENT INVESTIGATION As at 30th April 2023 tsyo members of key management were suspended pending the outcome of an intemal investigation. Following the conclusion of the investigation and subsequent intemal ProsseS on 4th October 2023, and in line with their findings. tha suspensions have now been lifted and it is expectsd they will make a phased return to a¢tiVg dulles as soon as possible. Full statement can be found on UCCF'S wèbsitè, httpsJfvMY.Uccf.org.uk1oStatarnent-frorn-th trusteeswof-uccf. OTHER INFORMATION The principal and registered address of The Fellowship is Blue Boar House. 5 Blue Boar Street, Oxford OX14EE. This report has been prepared in accordance wlth the Slatement of Recommended Practice and Accounting by Charilles (r8vlsed 2019). So far as the Trustees are aware, there is no relevant audit infonnation of which th8 companrfs auditors are unaware. and they have taken all the stèps that they ought to have taken as Trustees in ord8r to make themselves aware of any relevant audit infomation and to establish that the companls auditors are aware of that Infomiallon, and they have made such enquiries of their fellow Trustees and of th8 company's auditors for that purpose, and tsken such other steps {rf any) for that purpose, as were required by their duty as Trustees of the company to exercise due care, skill, and diligénc8. Th• Trustees Report was approved by the Board on and slgned on Its behalf by: Mr Simon Day INTERIM CHAIR of TRUST BOARD Data: LI Lotg Page 10 of 27 Christian nions
UCCF Trustees Report and Flnanclal Statements 2023 Independent audltorfs report to the members of Universities & Colleges Christian Fellowship Opinion We have audlted Ihe flnancial statements of Unlversltles & Colleges Christian Fellowship (the 'chaTity) for the year ended 30 April 2023 which comprise th8 Statement of Financial Actiwties, the Balance Sheet, the Cash Flow Statement and notes to the financAal stat8m8nts. induding a summary of signrficant accounting policies. The financial reporting framework Ihat has b88n applied in their preparation is applicable law and United Kingdom Accounting Slandards. including FRS 102 'The Financial Reporting Standard applicabla in the UK and Republic of Ireland" (United Kingdom Generally Acceptsd Acts)unllng Practlce). In our opinion, the financial statements: glve a true and fair view of the state of the charis affairs as at 30 April 2023 and of 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 Companies Act 2006, the Charities and Twstee Investment (Scotland) Act 2005 and regulation 8 of the Charitres Accounts (Scotland) Regulations 2006. Basls for oplnlon We conducted our audit in accordance with Intemational Standards on Auditing (UK) {ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditorfs r8sponsibilit18s for the audit of the finan¢i81 ststements section of our report. We are independent of the ¢harity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, induding the FRC'S Ethical Standard and we have fulfilled our other ethical responsibilities in accordance with these requirements. We b81i8ve that the audit eviden we have oblalned is suffident and approprlate to provKle 8 basis for our opinion. Conclu$lons rolatlng to golng con¢om In audltlng the flnancial statements. we have conduded that the tNstees' use of the going concem basis of accounting in the preparation of the financial 81atements is appropriate. Based on the work we have perfonned. we have not id6ntifi8d any material UnrtaInlieS relating to events or conditions that, IndNldual or collectlvely. may cast significant doubt on the charitys ability to continue as a golng conc8m for a p8ri0d of at least twelve months from when the financial st8tem8nts are authorls8d for issue. Our responsibilities and the responsibilities of the trustees with respect to going nCern are descrlbed in the relevant sections of Ihis rep)rt. Other Informallon The trustees are responsible for the other information. The other information comprises the infomation induded in the Trustees report, other than the financial statements and our auditor'8 r8POrt Ihereon. Our opinion on the financial ststements does not cover the other Infomatlon and, except to the extent otherwise explicitly stated in our report, we do not express any fomi of assuran concluslon thereon. The Christian nions Page 11 of27
UCCF Trustees Report and Flnancial Statements 2023 In Connection wth our audit of the financial statements, our responsibility is to read the othér nformation and, in dolng so. Consider whether the other information is materially inconsistent the financial statements or our knowledge obtsined in the course of the audit. or otherwise appears to be materially misstated. If wa identify such material inconsistencies or apparent materlal misstatements, we are required to determine whether there is a material misstatement in the finan(aal statements or a material misstatement of the other infonnation. If, based on th8 work we have perfomied, we c>)ndude that trre ts a m8t8ri81 misstatement of this other irrfomiation, we are required to report that fact. We have nothing to report in this regard. Oplnlons on other matters pr•s¢rlbod by the Companies Act 2006 In our opinion, based on the work undertaken in the course of the audit: the infomialion given in the Trustees, Reportwhich indudes Ihe Diredors. Report prepared for the purposes of company law. for the financial year for which the financlal statements are prepared is consistent wth th8 financial statements; and the Directors, Report included within the Trustees, Raport has been prepared in acc(*dance with applicabl818gal requirements. Matters on which wo are required to report by Oxcgption In light of the knowledge and underst8ndlng of the charity and its environment obtained in the course of the audit, we have not identffied material misstatements in the Directors, Report induded within the Trustees. Report. We have nothing to report in respect of th8 following matters in relation to which the Companies Act 2006 and Charities Accounts (Scotland) Regulatlons 2006 requires us to report to you rf. in our opinion.. adequate and proper accountlng records have not been kept. or retums adequate for our audit have not been reiVed from branches not visi18d by us; or the finaneAal statements are not In agreement wlth the accounting records and returns,. or certain disclosures of trustees, remuneration spe¢rfied by law are not made: or we have not received all the infomiation and explanations we require for our audit. or the trustees wèrè not entiued to prepare the financial ststements in accordance with the small companies regime and take advantage of the small companies, exemption from the requirement to prepare a Strategic Report. Rosponsibilities of Trustees As explained more fully in the trustees. responsibilities statement sat out m page 7. the trustees (who are also the director5 of the charitable company for the purpos8s of cornpany law) are responsible for the prèparation of the financial statements and for belng saUsfi8d that thèy give a true and fair view, and for such internal control as the trustees detemiine is necessary to 6nable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the finanal statements. the trustees are responslble for assessing the charity'B ability to continue as a going concern, disclosing, as applicable, matters relatéd to golng eoncem and using the going concern bas of aCUnting unless +Lhe Lrustees either intend to liqiiidats the charity or to cease operations. or have no realistic altemative but to do so. Pag8 12 of 27 UlThe Christian Unions
UCCF Trustees Report and Financial Statements 2023 Audltor's r•spon8lbllltl•s for th• audit of the finan¢ial statsments We have been appointed as auditors under Section 44{1 XC) of the Charrtses and Trustee Inv&sknent (Scotland) A¢t 2005 and under the Companies Act 2006 and report in accordance with regulations made under those Acts. Our objectives are to obtain rearaonable assurance about whether the financial statements as a who18 ar8 fr8e from material mi5ststement. whether due to fraud or error. and to issue an auditorfs report that Includes our oplnlon. Rèasonable 8ssuran¢e is a high level of assurance but is not a guarantee that an audit o)ndu¢ted in a¢¢ordan¢e with ISAS (UK) will always detect a material mlsstatement when it exists. Mlsstatements can arls8 from fraud or error and a ¢onsid6red material rf. individually or in the aggregate. they could reasonably be expected to influence the economSG declsions of users taken on the basis of the financial statements. The 8xient to which our procedures are capable of detecting irregulariti6s, including fraud is detailed b810w. Irregularities, including fraud, ar8 instances of non-complian wrlh laws and regulations. We desvJn procedures in line with our responsibilities, outlined above. to detect material misstst8ments In respect of irregularities. including fraud. Based on our understanding of the charity and its activities, we considered that non-compliance with the followlng laws and regulations might have a material effect on the financial statements.. employment regulation, health and safety regulation and anti- money laundering regulation. To hèlp us identify instances of non-compliance with these laws and regulations. and in bJ8ntfying and assessing Ihe risks of material misstatement in respect to non-compllance. our procedures included, but were not limited to: Inquiring of management and. where appropriate, those charged with govemance, as to whether the charity is in complianc8 With laws and regulations, and discussing their polici8s and procedures regarding compliance with laws and regulations: Inspecting correspondence, rf any. with relevant licensing or regulatory authoriti8s: Communicating identified laws and regulations lo the engagément team and remaining alert to any indications of non-compliance throughout our audit", and considering the risk of acts by the charity which were contrary to appIlble laws and gulations, including fraud. We also consldered thos6 laws and regulatlons th8t have a direct effect on the preparation of the financial statements. such as tax legislation, pension legislation, the Cornpanies Act 2006 and the Charitie8 Statement of Recommended Practice. In addition, we evaluated the tNstees' and managemenys incentives and opportunities for fraudul8nt manlpulatlon of the flnancial stateménts including the risk of override of controls. and determined Ihat the principal risks relat8d to posting manual journal entries to manipulate financial performance. management blas through Judgements and assumptions in significant accounting estimat88, in particular in relation to revenue recognition (which we plnpolnted to thè ujt off assertion subject to your revenue recognition significant fraud risk) and stgnificant on8-off or unusual transactions. Our audlt procedures In rel8tlon to fraud Indudéd but were not limited to: Making gnquiries of the trustees and management on whether tw had knowledge of any actual, suspected or alleged fraud,. Gaining an understanding of the internal controls established to mitigate rfsks related to fraud,. Discussing amongst the engagement team the risks of fraud" and Addressing the risks of fraud through management overrlde of controls by p8rforming loum81 entry testing. Page 13 of27 UlThe Christian nions
UCCF Trustses Report and Flnanclal Statements 2023 There are inherent limitations in the audit procedures described above and the primary responsibilty for the prevention and detection of irregularities including fraud rests with management. As wlth any audlL there remained a risk of non-dete¢tion of irregularities, as these may involve collusion, forgery, intentional omissions, misr8presentations or the override of intemal controls. A further description of our responsibilities for thè audit of the financial statements is lo¢aled on the Finanaal Reporting Council's websrle at WVW4V.frc.org.ukJauditorsresponsibilities. This description fornis part of our auditorfs report. Use of the audit report This report 1$ made $olety to the ¢harity'$ members as a body in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might stste to the ¢harttWs members those matters we are required to state to them in an auditorfs report and for no other purpose. To the fullest extent pemiitted by law. we do not accept or assume responsibility to anyone other than th8 charity and the charity's memb8r8 as 8 body for our audlt work, for this report, or for the opinions w8 hav8 forrned. Signed Davld H008e (Senlor Statutory Audltor} for and on behalf of Mazars LLP Chartered Accountants and SLthitory Auditor Park Viow Hou8? 58 The Ropowalk Nottingham NG15DW Date: Dec 13, 2023 Page 14 of 27 UCThe Christian IF Unions
UCCF Trustees Report and Flnanclal Statements 2023 Statement of Financial Activities For the y88r ended 30th April 2023 (incorporating an income and expenditure account) 2023 Total UnrestriGled Restricted Funds Funds Funds 2022 Total Funds Unre$lri¢led Re$tri¢led Funds Funds INCOME from: Donatlon8 LegaGie$ Grant Income Charitable Activities OthL¥ Trading ActNit Invastments Other 3,101.527 651.985 496.581 3,598,108 651,985 3,254.171 211,665 35,238 405,810 1,768 1,428 122 3,910202 199,746 3,453,917 211,665 314,680 17,789 45.322 1.930 316.610 17.789 45A22 4,392 410,202 1,768 1,428 122 204,138 4,114,340 Total Income 4,131,303 498,511 4,629,814 EXPENDrruRE on: Ralslng Funds Charitable Activities Total Exponditur• 298,166 3,937,273 4,235,439 1,506 299,672 435,188 4,372,461 436,694 4,672.133 382,750 3.557.002 3.939.752 1.868 384.619 382.571 3.939.572 384.439 4,324.191 Net Incomel(Expendlturo) Before Galnl(Loss) on Investment 1104,136) 61,817 {42,319) (29.550) 1180,301) <209,851) Net galnl(losses) on Investment Net Incomd(Exp*)dllure {56.333) {160,469) {56,333} (98,652} 38,052 38.052 (8,502) {18OJ01) (171,799) 61,817 Transfe Be Funds Net Movement In Funds (fj8,058) {228,527) 68.058 129,875 (78,550) 78,550 (70.048) (101.751) (171.799} (98.652) RECONCILIATION of Funds: Total Funds Brought FoThvard Total Funds Carried Forward 2,676,019 1.657.223 4333.242 2,447,492 1,787,098 4234,590 2,746.067 1.758.974 4,505,041 2,676,019 1.657.223 4,333242 The Notes on pages 18 to 27 form part of the$• flnanclal statsm•nts. Christian IF Unions
UCCF Trustees Raport and Financial Statements 2023 Balance Sheet As at 30th April 2023 Com ny Istratlon No. 387932 2023 2022 Fixed Assets Tangible Assets Investrnents 1,494,600 2,090,364 3.584.964 1.520.279 2,125,545 3,645,824 Current A880ts Debtors Cash at bank and In hand 410.332 641.796 1,052,128 323,453 740.209 1,063,662 Creditors Amounts falling due within 1 y8ar (402,502> 402,502) (376,244) (376.245) Net Current A8s•ts 849.628 087,418 TOTAL NET ASSETS 4.234,590 4,333,242 Funds of tho charity Restricted Designated General TOTAL FUNDS 11 13 1,787.098 473.950 1.973,542 4,234,590 1,657,223 848,961 1.827,058 4.333.242 Tho Notes on pagos 18 to 27 form part of theso flnanclal slatsments Th• Financial Statements ware ap6roved by tho Trustses on t3 and slgned on Its bohalf by Slmon Day (Interim Chalr and Tru8teè) 2023 Christian nions
UCCF Trustees Report and Financial Statemonts 2023 Cash Flow Statement For the year ended 30 April 2023 2023 2022 Cash Flows from operatlng activities Nel income lexpenditure for the period adjustrnents for: Depreciation charges (Increaseydecrease in debtors Increasel{decreasel in creditors Unrealised {Gain)ILoss on investsments Investmenl income and interest (Profityloss on dlsposal of flxed assets Not Cash provldod by oporatlng actlvltlos (98,652) {171.799) 58.793 (86,879) 26.257 56,333 (26,912) 57,629 (10.647) (51,886) (38,053) (1,428) {122) (71,055) (218,306) Cash Flows from Inv88tlng actlvltles Income from investments Tangible assets: additions Tangible assets.. Sale proceeds Investments: addilions Investments: sale proceeds N•t Cash providod by invosting a¢tivitios 5,760 (33,403) 285 1,428 {29.319) 474 {27,358) 127,41 Movemont in ¢a$h and ¢a$h •quivalonts In the reportlng perlod {98,413) ¢243,723) Cash and cash equivalents at 1st May 740.209 983,932 Cash and cash equivalents at 30th Aprll 641,796 740,209 Anatysis of cash and cash equivalènts Cash al bank and in hand 641,796 740,209 Page 17 of 27 Christian nions
UCCF Trustees Report and Financial Statsments 2023 NOTES to the Financial Statements For the year ended 30th April 2023 ACCOUNTING POLICIES Basis of accountlng These fin8nclal statements have been prepared in accordance with Accounting and R8POrting by Charities: Statement of Recommended Pradice applicable to Charities preparing their accounts in accordance wlth the Flnancial R8POrtlng Standard applicable In th8 UK and R8publlc of Ireland (FRS 102) (effective 1 St January 2019>- (Charities SORP (FRS 102)). the Financial Reportlng Slandard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006. Assets and liabilities are initially recognised at historical cost or transaction value unle86 Otheise stat8d in the relevant accounung policy or note. UCCF meets the definition of a public benefit entty under FRS 102, Going Concern The ffinanrAal statements have been prepared on a going conc8m basis as tho Truste8s believ8 that there are no material Unrtainties about The Fellowship's abilty to continue as a going concem. The Trustees have considered the level of funds held and the expected level of income and expendtture for the next 12 months and the budgeted income and expenditure is sufficient with the level of reserves for The Fellowship to be able to continue as a going concern. FurKls Accounting The Fellowship's reseNes are classrfied in the following three ways.. General Funds-These are unrestricted funds available for use at the dlscretlon of the Trustees to use in the norm81 activity of The Fellowship in furtherance of its general charitable objectives and which have not been designated for other purposes. Designated Funds- These are unrestricted funds that have been set aside by the Trustees for a particular purpose. Restricted Funds- These are funds that are to b8 used in accordance with specific restrictions Imposed by donors or which have been raised by The Fellowship for particular purposes. Thé costs of raising and administering these reslricted funds are charged against the sp8ciflc fund. Income and expenditure relating to restricted and/or designated purposes are reflected in the Statement of Financial ActNities ('SOFA°). with the resultant net In¢omingl{outgoing) resources thereon being approKYiated each year to Separate funds in the balan sheet. Tangible fixed assets Tangible fixed assets costing more than £500 are capitalised and induded at cost, induding any inGidental expenses of acquisition to bring the asset into working condition for its Intended use. Assets are reviewed for impairment by the Trustees rf circumstances indicate their carying value may exceèd thèir nèt r8alisabl8 valué value in use. Depreciation of leasehold property is provid8d at a rate cal¢ulat8d to write off the cost over not longer Ihan the rernaining period of the lease. Realised gains and losses are shown in the appropriate sectvJn of the SOF Page 18 of27 UllThe Christian Unions
UCCF Trustees Report and Financial Statoments 2023 NOTES to the Financial Statements (continued) For the year ended 301h April 2023 Depreciation is provided at rates calculated lo write off the cost of thos8 assèts on 8 Str8ight4iné basis over their expected useful lives. The principal annual rates used are.. Freehold buildings Computer and other shorter life equipment Fixtures and fittings 2.0% 33.0% 12.5% Stock and work In progress Stoc* and work In progress is stated 8t the lowèr of cost and net realisable value. Inv•stments Investments and108ns held as fixed assets include listed inv8Stm8nts. Listed investrn8nts ar8 h81d at market value with any gain or loss being taken to the SOFA. Income Income is Included in the SOFA when The Fellowship is entitled to the Inme after any perfomian( conditions attached to the income have b88n met, the amounts can be measured reliably, and it is probabl8 that th8 income will be received. Donations - Donations are recognised when th8 rec81pts have bean deposited into the bank. The tax recoverable under Gift Aid is recognised as incom8 when it becomes recArvable. Legacies- Legacies are recognlsed when probat8 Is glvén and there is SLfficient information to value them. Grants- Grants are renised uslng the accru81 model and are r8cogniBed in the accounts once all criteria for grant has been met. Expendlture All expenditure is accounted on an accruals basis. Expenditure Is recognis8d when thére is a legal or constructive obligation committing The Fellowship to the expenditure. Costs reported under ead) heading in th8 SOFA reflect the allo¢ations of activities directly attributable to that heading together with an apporllonment of support and gov8rnan¢e costs (see below). Raising Funds represent the expenditure incuThed on generating funds from all the possible 50urces of Incom8. Chan"table activities repr8S8nt the experKJiiure inGurred on student rninistry. Support Costs include expenditure on offic8 costs, goveman¢e, payroll administration. information technology, human resources and financing. Together with govern8ncè costs they are allocated be88n th8 cosl of plslng funds aNI ¢haritable activities as shown in note 3. Forelgn currency Transactions in foreign currenciès are translated into sterling at rates of exchange ruling at the date on which transacllons occur. All fol9n Gurrency balanS are translated at the rat6 rullng at th8 balance sheet date. Leaslng and hlre purchase commltments Rentsls payable under operating leasas are charged against income on a straight4ine basis over the lease temi. The Christian nions Page 19 of 27
UCCF Trustees Report and Flnancial Statements 2023 NOTES to the Financial Statements (continued) For the year ended 30th April 2023 Taxation As a registered charity and in accordance with Section 505 ICTA 1988 there is no taxation charge arising from thè result for thè year. Irr8coverdb18 VAT is treat8d as a cost to The Fellowship and is included within the relevant expense. Pensions The Fellowship uses a defined contribution penslon schem8 run by Th8 People Pension (TPP). Employer contributions into the scheme and contributions payable to th6 pènsion sch8m& arè charged to the SOFA in the period to which they relate. Financlal Instruments Thè Fellowship only holds basi¢ financial instruments as defined in FRS 102. The finandal assets and financial liabilities of the academy trust and their measur8ment basis are as follows: Financial assets- trade. other debtors, accrued legacy Incom8 and glft 8id re¢overabb are basic financial instnjments and are debt instruments measured at amortlS6d cost as d8tai18d in note 8. Prepayments are not financial instruments. Cash at bank- is classffjed as a basic financial instrument and Is m6asur8d at face value. Finanoal liabilitie8- trade creditors, accruals and other creditors are financial instruments, and are maqsured at amortised ¢o$t as detailed in note 9. Taxation and social security are not Included in the financial instruments di5closur8 definition. Deferred income is not deemed to b8 a financial liability, as the cash s8tt1èment has already taken place and there is an obligation to dellver s81vie*s rath8r than cash or another financial Instrument. Critical Estimatss and Areas of Judgemont In the application of the charity's accounting policies, the trustees are required to make judgernents, estimates and assumptions about the carying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered lo be relevant. Actual results may differ from these estimates. The estimates and underlylng assumptlons are reviewed on an ongoing basis. Revisions to accounting estimates are r8cognis8d in the period in which the estimate is revised. rf the revision affects only that period, or in the period of the reslon and fuiuré p8ri0ds if the revision affects both Cufrent and future periods. The trustees do not conslder that ther8 are any estimates and as8umptK)ns which have a signfflcant risk of causing a material adjustment to the carying amount of assets and liabilities. Page 20 of 27 UlThe Christian Unions
UCCF Trusts•s R•port and Flnanclal Statements 2023 NOTES to the Financial Statements (continued) For the year ended 30° April 2023 2. EXPENDITURE Staff Support Othor Costs Costs Costs Depm TOTAL 2023 TOTAL 2022 Expenditure on Raising Funds 2.070 299,872 384,619 Charitable Aclivities 2.864,974 601,534 876,848 29.105 4,372.461 4939,572 Total Exp•ndlturn 3.049.471 640A89 950.998 31,175 4,672,133 4.324,191 184,497 38.955 74,150 3. SUPPORT COSTS Facllltl88 &HR Flnanco IT Gov'nce TOTAL TOTAL 2023 2022 Raislng Funds 11.911 15,434 Student Ministry 183,927 238.331 Totsl Support costs 195,838 253,765 4.501 7,109 38.955 35.107 69,498 109,778 601,534 430,287 73,999 116,887 640h89 465.394 Depreciation costs of £27,618 and staff costs of £315,025 are included within support costs. Support Costs are allocated lo activities on the basis of headcount. 4. NET INCOMEI(EXPENDITURE) 2023 2022 This is stated after charging: Auditors. remuneration Depre¢iation Gifl Aid (inojme) (12,000) (9,360) (58.793) (57,829) 304.898 305.249 Page 21 of 27 Christian Unions
UCCF Trustees R•port and Financial Stat•m•nts 2023 NOTES to the Financial Statements (continued) For the year 8nded 30 April 2023 5. EMPLOYEES and TRUSTEES a) EMPLOYEES Staff co8t8 2023 2022 Salarl8S Social security costs Pension Contributions 2.966,315 2.782.884 273,802 248,790 124,379 119.649 Total 3,364,496 3,151.323 The Staff costs shown ave differ from those shown in note 2 by the amount of staff costs indud8d as support costs. Average staff numbers by dlvlslon 2023 2022 Student Ministry 114 113 Total 113 Number of omployeos whose total romunoration (excl pensions contrlbutlon & Nl} falls between the following range £60.000 - £69.999 £70.000 - £79.999 2023 2022 Key management personnel remuneration The key management personnel of the charity comprise of th8 SbJd8nt Ministry L8ad8rship Team and the Trustees. The Student Ministy Leader6hip Team is the Director, the Field Director. the Director of Creative Evangelism, 5 Offi¢e Team Leaders. 6 Field Team Leaders and the EA to the director. Totsl r•mun•rntion {incl pgn61on contribution) 2023 2022 Student Mlnlsty 784.204 654.536 In 2023 there were O Student Ministy Leadership Team vonCle$. Page 22 of 27 Christian nions
UCCF Trustees Report and Flnanclal Statsments 2023 NOTES to the Flnanclal Statements (continued) For the year ended 30th April 2023 b) TRUSTEES No Trustee recerved remuneration fr<)m Ihe charity during the year (2022; £ nil). Trustees are reimbursed for out of pocket travel and subsistence expenses. 2023 2022 Trustees receiving reimbursement Total amount of reimbursement £1,878 £799 Total donations received from trustees during the year was £4,330 (2022: £2,750) c) RELATED PARTY TRANSACTIONS There were no related paty transactions during the year (2022. none). 6. TANGIBLE FIXED ASSETS L•asehold Computsr. Property Fixturos & Flttlngs Totsl C08t At 1st May 2022 Additions Disposals At 30th Aprll 2023 1.735.010 1,735,010 355,671 2,090,681 33,403 33,403 {6,303} (6.303} 382,771 2.117.781 Dopreciation At 1 st May 2022 Charge for year On disposals At 30th April 2023 260,055 24.768 310,346 570,401 34.025 58,793 {6.012) (6,012) 338,359_ ' 623,182 284,823 Not Book Value At 30th April 2022 At 30th April 2023 1,474.954 1,450,187 45.325 1,520,279 44,412 1,494.600 The Christian IF Unions Page 23 of 27
UCCF Trustees Report and Financial Statements 2023 NOTES to the Financial Statements (continued) For the year ended 30th Aprfl 2023 7. INVESTMENTS Cosumarket Value 2023 2022 Market V81ue al start of year Additions at cost Divid8nds ralnvested less managament feg Disposals at carrying value Change in market value (56.333) 38,052 Market value at end of year 2,090,364 2,125,545 HistOriC41 cost at 30th April 1.664.939 1.664,939 2,125.545 2,087.493 21.152 Inv•$tmont Comprises: 2023 2022 Cash Listed Investments 63,537 57.402 2.026,827 2.068.143 8. DEBTORS: Amounts falling due wlthln one year 2023 2022 Trade debtors Accrued legacy Income Prepayments Gift Aid recoverable oth8r debtors 6.073 7,763 226,499 183,508 55,052 66,772 78,061 12,925 44,647 52.485 Total 410.332 323,453 Page 24 of 27 Christian nions
UCCF Trustaes Report and Flnanclal Statements 2023 NOTES to the Financial Statements (continued) For the year ended 30U) April 2023 9. CREDITORS: Amounts falling due within one year 2023 2022 Trade editOrS Accruals Taxation and so¢ial security Deferred Income Other creditors and accruals 37,924 200.821 87,5CMJ 170,332 73.675 84,233 90.082 54,179 Totsl 402,502 376.244 D?farr8d Incon Conferancelsummer Team income received in advance Relay training fees & deposits received in advance Donations for new staff post re¢eNed in advance 58,515 15,160 62,405 15,380 Total 73.675 84,233 10. ANALYSIS of NET ASSETS BETWEEN FUNDS Unrestricted RestrFct8d Funds Funds 2023 Total Funds Unrestric*8d R8slricted Funds Funds 2022 Total Funds Tangible fixed assets Inveslments Current a&sets Current liabilities Totsl funds 44,414 1.450,186 1.494,600 45.325 1.474,954 1,520,279 1.755,803 334,581 2,090,384 2,125,545 2,125,545 1,027.080 25,048 1,052.128 833,787 229,875 1,063.662 (379,805) (22,697) (402,502) (328.639) (47.606) (376,245) 2.447,492 1.787,098 4334,590 2,676,018 1.657.223 4,333.242 Page 25 of 27 Christian nions
UCCF Trustees Report and Flnanclal Statements 2023 NOTES to the Financial Statements (continued) For the year ended 30th April 2023 11. RESTRICTED FUNDS Restricted funds are funds donated or allocated for restricted purposes. Balance at 1st May 2022 Balanco at 30th Apr 2023 Income Exp8ndlture Transfers New Buildlng Fund Vardy NE CUSW Fund RW Assistance Fur)d Exeter Uni CU Fund Gospel Project Leadership NelM)rk 1.609.685 5.333 39.028 3.177 (24,768) 1.584,917 5,333 30,610 3,177 163,061 (o) 1,787,098 1.966 {10,383) 183,447 313,098 498,511 (20.387) (381,156) {436,694) 68,058 68.058 Totsl 1,657.223 The total transfer between unrestricted and restricted funds of £68.058 in the year relates to income transferred from General Funds lo the Leadership Netsvork project to cover the direct costs incurred in the year. 12. UNRESTRICTED FUNDS Balance at 1st May 2022 Balanco at 30th Apr 2023 In¢om• Expenditure Transfers General Funds Designated Funds 1.827,058 3,970.025 (4,114.509) 290,968 1.973,542 848,961 104,945 <120,930) (359,026) 473,950 Total 2,676,019 4,074,970 (4235,439) (68,058) 2A47,492 Page 26 of 27 Christian Unions
UCCF Trustees R•port and Flnanclal Statements 2023 NOTES to the Financial Statements (continued) For the year ended 30th April 2023 13. DESIGNATED FUNDS The income funds of th8 charity indude the following designated funds which have been set aside out of unrestricted funds for specffic purposes: Balance at 1st May 2022 Balanca at 30th Apr 2023 Income Exp8ndituro Transhrs Job Retention Fund Building Maintenance Fund Slaff Worker Posts Strategic Research SE CU Big Weekend Summer Teams London Mission & Training Hardship Fund ReseTve Fund 733,333 (366.667) 15,000 {14.451) 7,500 (54) {355) 366.866 15,000 27,036 11.195 51,181 13,699 16,121 71,112 8,681 9,051 (25.814) (81.116) {7,707} {6,292) 5,946 3,000 4,302 37.500 848.961 8,351 3,000 4.302 37,500 473.950 Totsl 104946 (120,930) {359.027) 14. UNDISCLOSED INCOME & EXPENDITURE At 30th April 2023 The Fellowship had no undlsclosed income and expenditure (2022. £0) 15. PENSIONS Th8 Fellowship operates a workplace pension scheme whose assets are held separately from those of The Fellowship in an independently administered fund. All eligible staff ar8 auto*nrolled into tho stheme. The Fell¢Jwship makes contributions into their scheme of 3QA. 5% or 7.5%. At 30th April 2023, the wer8 contributions totalling £24.480 which wer8 Outstanding to the scheme. (2022: £0) 16. CAPITAL COMMITMENTS At 30th April 2023 there was no contracted or aUthISed capital expenditu (2022. £0) 17. FINANCIAL COMMITMENTS At 301h April 2023 The Fellowship had no commitments for payments under nOn-CanlIabl8 OP8rating leases. (2022; £ nil) The Christian IF Unions Page 27 of 27