UCCF Trustees Report and Financial Statements 2024 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 30th April 2024 Universities and Colleges Christian Fellowship (UCCF) Blue Boar House 5 Blue Boar Street Oxford OX14EE T: 01865 253678 E.. info@uccf.org.uk W: www.uccf.org.uk PROFESSIONAL ADVISERS Main banke Solicitors Auditors HSBC Bank plc The Clock Tower 2-6 Gallowtree Gate Leicester LE1 1DA Anthony Collins Solicitors St Philips Gate 5 Waterloo Street Bimiingham B2 5PG Forvis Mazars LLP 6 Dominus Way Meridian Business Park Leicester LE19 1RP Page 1 of 29
UCCF Trustses Report and Financial Statements 2024 Contents Report of the UCCF Trust Board (Incorp)rating the Trustees, Reporti....................... . . Independ8nt audito¢s r8POrt to the members of Universities & Colleges Christian Fellowship.... ststement of Financial Activities.............. ... . . . .. .13 17 Balance Sheet......................................................................... 18 Cash FEOW Slatement........................................................................................................................................ .... Notes to the Financial Statements.................................................................................................................... .19 .20 Page 2 of 29 Uff The Christian nions
UCCF Truste88 Report and Financial Statements 2024 Report of the UCCF Trust Board (Incorporating the Trustees, Report) For the year ended 3 April 2024 The Trustees of the Universities and Colleges Christian Fellowship ("The Fellowship.) present their Annual Report and the Financial Statements for the year ended April 2024. CONSTITUTION The Fellowship is a registered charity (No. 306137) which is a federation of evangelical Christian Unions governed by a constitution dated January 1999 and subsequently revised in 2003. OBJECTIVES & PRINCIPAL ACTIVITIES The policies of The Fellimship remain those contained in its constitution. In summary this is to bear witness to Jesus Christ as Saviour, Lord and God in the student world of England, Scotland and Wales in accordan with the doctrinal basis of The Fellowship. The Fellowship is committed to evangelism. world mission, Biblical truth and spiritual growth. The principal activities are: To -ordInate the work and to unite the members of the Christian Unions ("CUs°) in their witness to the Christian faith in accordance with the doctrinal basis of The Fellowship. To advise or assist Christian Unions in the work and to help create Christian Unions where they do not yet exist. To produ and circulate literature and materials designed to advance the Christian faith. To help CU members to appry 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 well to work after graduation. To stimulate amongst students and former students an interest and active participation in home and overseas missions and in the worf( of the churches. Public Benefft The Trustees are mindful of the Charty Commissbjn's guidance on °Charities and Public Benefif and have embraced it. As stated above, UCCF'S overall objective is to help students bear witness to Christ and his teaching. This includes equipping them to demonstrate the love of God in practical ways. This report seeks to give examples of that public benefit In actron. Page 3 of 29 Uff The Christian Unions
UCCF Trustees Report and Flnanclal Ststsm•nts 2024 Achievements & Performance CU ministry in numbers 6,000- 7,000 148 16 ,1,600 students involved in CU weakly active CU5 90 Cus that held 90 35% 90% Including ntffj •f CVS ran an Intsmallonal ran evangeli5ti events in freshers, week CU$ hosted a carol serilce 160 students b#Psed In the wevlou• y•ar and who cltad CU a• a major 114 of CU$ use UCCF- produced Impact Group malerial in some form of CU members are international sludents. and 30•/• arè not white Future Plans We're immensely thankful for your falthful support over the past year. It's a true privilege to see the Spirit at work on university campuses and through CU witness. Your prayers, heart for student mission and generosity have made ourwork possible. The focus of Cus will always be student leaders, supported by UCCF staff. Students contlnued to be a wonderful encouragement and this year has On again been a story of students, creativity and boldness as they share the good news of Jesus with their friends. Appolntment of a new CEO Richard Cunningham, National Director of the Universities and Colleges Christian Fellowship (UCCF) decided to step down in the financial year after decades leading the fellowship and supporting Christian Unions on campuses across Great Britain. We're delighted to announce the appointment of 8 new CEO. Matt Lillicrap ha8 been in church ministry in Cambridge for several years and will be joining UCCF this autumn to take up this crucial role. This is an answer to prayer and is a result of a thorough and prayerful recruitment process, with nput from advisors with extensive Christian ministry experien. Please join us in praying for Matt as he settles into the role. Page 4 of 29 Ul The Christian IF Unions
UCCF Trustees Report and Financial Statements 2024 Govemance and employment practlc8S Following the conclusion of the independent investigation into our employment praCtIS in 2023, we have been reviewing our staff contracts and HR processes. We remain committed to implementing four specific recommendations in full and have been methodically working through these this year. We are particularly thankful to our Directors for the work they have done, listening Careful to our staff. In light of the investigation, the Trust Board made a commitment to undertake a review of our governance structures. We want to attain best practi as an employer. so that every employee's experience matches the high standards we have set ourselves. We have begun to add$S some of these issues by commissioning a legal fim, Mills & Reeve, to review our governance arrangements and highlight areas for improvement. We are currently working through their recommendations. Appointment of trustees The purpose of the Trust Board is to ensure UCCF is effectively meeting its charitable objectives. IYS our desire for UCCF'S Trust Board to reflect the breadth of belief and practi represented across the Fellowship, with diversity of opinion and experience. We have five trustees and are actively looking to appoint new members to the board. We currently have extensive experience of secular employment and would welcome applications from candidates with ministry experience. We also particularly welcome applications from women and those from minority ethnic backgrounds as these groups are currently underrepresented on our Trust Board. If you are interested in joining our board, please contact US at info@uccf.org.uL Financial Summary As we consider our finances, we are abundantly grateful ft)r your faithful supwrt There is much to be thankful for, and much to fuel our prayers for the coming year. Rising costs and a decrease in our income mean we have continued to face significant financial challenges. Inflation over the past few years has been high, impacting on costs across the t*)ard. And supFx)rt from various sources, including individual donations and trusts, has seen a decrease. The accumulative impact of this over several years meant that we anticipated a deficit of £671,000 in FY 2024, calculated by expected staffing levels and predicted donations. We ended the year with a reduced deficit of £416.315. This was thanks largely to higher legacy income, and a large increase in the value of investments to budget. The financial reality of a significant structural operating deficit Ulted in a commitment to some prudent cost- saving measures. including the hard decision to reduce the numter of CU Staff Workers that we employ and requiring us to be more operationally efficient in several areas. Slrategic planning This dual pressure of increasing costs and decreasing income requires us to be even more diligent in our financial management and strategic planning. We are seeking to balan ministry needs with prayerful stewardship of our Qu5, with trwo points to note: 1) Resourcing ministry through staff., We are committed to effectivety resourcing CU leaders by placing excellent, well-trained and diverse staff on the ground. As a result, over the next two years we are committing to providing Staff Workers in key areas, exwding our current income. This is a strategic Page 5 of 29 UKThe Christian Unions
UCCF Trustees Report and Financial Statements 2024 decision to best serve university campuses, resulting in a budgeted deficlt of £443,000 in FY 2025, which will be funded from our reserves. 2) Developing partnership Over the next two years we are prioritising a strategy for developing existing relationships with our donors and prayerfully considering ways to develop new partnerships. This is vital as we work to reduce the gap beeen our income and expenditure to enable us to continue this work long-term. We are excited to play our part in helping students and recent graduates grow in the gift of giving. walking with them to establish healthy rhythms as they enter the workplace. We want to deepen our relationships with existing supporters and help all of our supporters to feel genuinely engaged with this exciting minlstry amongst students. This will require an increase in personnel and resources as we seek to increase our income. We're delighted to be welcoming a new Key Relationships Manager to the fundraising team, a first step in increasing personnel. We are prayerfully considering how we can continue to ensure we partner well with supporters to enable generosity. Income We have seen a decrease in our income compared to the previous year, attributed to two main factors. a decrease in contributions from trusts and decline in legacy gifts. Our last financial year saw a seven-year hKJh in legacy income. Despite this decline, we have much to be thankful for, the generosity of supporters in their wills is deeply cherished and enables us to continue our work. Total Income 23124 £4.629k Page 6 of 29 UKThe Christian Unions
UCCF Trustees Report and Financial Statements 2024 Indlvldual donors are our largest Source of income1$7%). The generosty of so many continues to be a real encouragement, and this faithful support enables us to continue working alongside Cus whilst also seeking to increase our income. Total income £4,Cthk Tllts. Churches and Legacles constrtute 25% of our income. We are immensely grateful not only for their financial support but also for the many practical ways in which churches partner with us, working alongside UCCF staff and supporting CU students in sharing the gospel. Ifs a joy to work in partnership WFih the local church. Donatlonj from Indmduals £2.305k {57%} Donotlong from Churches £313k (8%) Donotlvns from Ihth £561k114%) L•gocSB¥ £425k (11 %) Expenditure Othw £402k (10%) staff costs totsl £3,168,296. 700h of total Costs. We remain conVind that Cus are most effective when led by students themselve8. We're committed to equipping students for missions, both through training and resources. as well as the provision of our staff to support Cus. As a result, a large portion of our expenditure is spent on staffing costs. investing in our staff is crucial as they play a vital role in transfomiing students, lives each year. The year included a pay raise for all staff equivalent to a 5% raise for junior staff members to help provide financial security and continued ministy effectiveness. Despite this pay increase. staff vacancies meant costs only increased marginally compared to prior year. We aim to manage these vacancies and recruit into high-priority mission areas with excellent and diverse staff. We're thankful for a large number of staff joining the team this summer (August 2024). each ready to come alongside and equip students for mission. As part of our commitment to resouTcing Cus. during the last academic year we carried out around 20 training events throughout the UK. training over 2,000 student leaders. These are invaluable events, and the direct costs, make up around 7% of our expenditure. Total Expéndituro 23124 22123 £4.672k Governance costs total £153,564, 3% of total costs. Governance costs were higher this year due to one-off costs for the independent investigation into our employment practices. The cost of this investigation and a&%)ciated legal fees were necessary and deliberate in order to conduct a rigorous review and determine effective next steps. We have continued to work through these steps and remain committed to transparency and accountability. Looking forward with thanks We rejoi in your partnership in this gospel ministy. This is a key moment for the fellowship as we anticipate Matt Lillicrap beginning as our new CEO and are excited to See what God has in store for us during this transition period. Page 7 of 29 UKThe Christian CF Unions
UCCF Truste88 Report and Financial Statements 2024 Your support and prayers are vital to our mission. We are deeply thankful for your ongoing generosity and commitment and are committed to carefully managing our resources. Please continue to pray for wisdom and discernment as we seek to steward our resou$ well for the good of the 2.2 million students in Britsin and the glory of God. Thanks for stsnding with us in this important work. PRINCIPAL RISKS & UNCERTAINTIES Risk Management The Trustees have sought to identify the major risks to which The Fellowship is exposed and have established controls and actions to minimise potents.al adverse outcomes. These risks and mitigating actions are set out in a comprehensive and detailed risk register. The strategic and operational risks are identified for 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 team to identify emerging or escalating risks. Risks are scored against probability and impact Griteria with mitigating controls, monitoring processes, and action plan5 considered for all risk areas. The Trustees also review on a regular basis the major financial risks that The Fellowship frdces. By malntaining free reserves at the target levels, and regularly reviewing the controls over key financial systems, The Fellowship will ensure that it has sufficient resources in the event of advense conditions. Principal Risks The principal risks are those which could affect our financial position, our fundraising capabilities. or our IT systems and include: Reputational risk due to adverse publicity and fear of religious extremism. Risk of corruption of IT systems or dats and unauthorised asS to central IT systems. Risk of a targeted attack on UCCF'S Christian values. Volatility of income received from individual donors and trusts which is difficult to predict. The Trustees, assessment is that adequate control measures are in place for the identified risks and that the ongoing monitoring process and review by the senior management team is sufficient to ensure that any new risks are identified. STRUCTURE, GOVERNANCE & MANAGEMENT Structure UCCF exists to engage in evangelical and evangelistic Christian work in tertiary education institutions. The UCCF Trust Board is the primary committee within The Fellowship having fully vested powers of governan as further set out in The Fellowship's Memorandum and Articles of Association. The UCCF Trust Board continues to devolve certain levels and types of executive authority to The Fellowship's various operating divisions, but it retains ultimate responsibility for all the work of The Fellowship. The Fellowship is affiliated to the International Fellowship of Evangelical Students {IFES) and is thereby identified with other member movements around the world. All Trustees give their time voluntarily and do not re1ve any personal financial benefit from The Fellowship. Page 8 of 29 UR The Christian nions
UCCF Trustees Report and Flnancial Ststements 2024 Composition of the Board The membership of the UCCF Trust Board at 30 April 2024 was: Mr Simn Day (Interim Chair) Mr Mark Childs Mr Gareth Burns Mr James MacKenzie Mr Jai Padam ointments durin thelma 2023 - 30 A rll 2024 •rlod boin Mr Jai Padam appointed 21 June 2023 Mr Gar&th Bums appointed 23° Novemter 2023 Mr Mark Childs appoint1 28th December 2023 orted Resi nations durln the1Ma 2023- 30 A rll 2024 Mrs Jenny Charteris resigned 7 September 2023 Mr Glynn Harrison resvJned 25 Septemter 2023 Mr Stephen Rigby resigned 25 September 2023 Mrs Abigail Marthinet-Glover resigned 2 October 2023 Mr John Stevens resigned 2 October 2023 Dr Christopher Imllmott resigned 9 October 2023 Rev Raymond Brown resigned 26 January 2024 Mrs Jenny Brown resigned 15 March 2024 oriod bein rted intments and Resl natlons aft•r 30 A authorisation Miss Begho Akoko appointed 22 May 2024 Mr Jai Padam resigned 22 May 2024 ril 2024 but rior to financlal statement Appointrnent, Induction and Tralning of Trustees Trustees are elected, or if agreed re*lected, on a defined rotational basis and new Trustees are provided WFth a suitable induction into The Fellowship's objects and ways of working from a governance perspective. The procedures and training in pla ft)r new trustees are detsiled below. The new Trustee is sent.. he Essential Trustee- What you need to knO- Charty Commission publication Memordndum & Articles The Constitution 2004 Governance Manual 2006 List of Trustees & Members The new Trustee signs.. Doctrinal Basis- re-signed if and when their Trusteeship is extended beyond three years. Statement of obligations as a Trustee. Declaration of Interest and then signed at every subsequent AGM. Various members of staff also routinely attend the Trust Board ex-officio (non-votlng). These particularty include the Director of Christian Unions, the Company Secretary. the Field tlrector, and the Head of Finance. Page 9 of 29 UR The Christian Unions
UCCF Trustees Report and Financial Statements 2024 Statement of Trustees, Responsibilities The Trustees are responsible for preparing the annual report and the financial statements in accordance with applicable law and United Kingdom Accountj'ng Standards (United Kingdom Generally Accepted Accounting Practi). Company law applicable to charities in England and Wales requires the Trustees to prepare financial statements for each financial year that give a true and fair view of the charity's financial activities during the year and of its financial position at the end of the year. In preparing the financial statements. giving a true and fair view, the Trustees should follow best practice and.. Select suitable accounting policies and apply them consistently. Make judgements and estlmates that are reasonable and prudent. State whether applicable accounting standards and statements of recommended practlce have teen followed, subject to any material departures disclosed and explained In the financial statements. Prepare the financial statements on the going conrn basis unless it is inappropriate to presume that the charty will continue in operation. The Trustees are responsible for keeping proper accounting records which disclose, with reasonable accuracy, the financial position of The Felbwship 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 detection and prevention of fraud and other irregularities. UCCF has Directors and OffirS insurance which covers trustees for claims first made against UCCF or a named trustee. RESERVES POLICY NOTE- in this s8Ction the tem? "reserves" is taken to mean unrestriGted liquid assets that a readily availabl8 for us8 and thus excludes reserves taking the form of fixed assets or other restiicted reserves which are funds received for specrfic pmiect wo. The Trustees recognise that reserves are essential in order to ensure that fluctuations in income do not have a detrimental knock-on effect on the work. They have adopted as a policy that unrestricted reserve equating to eight weeks of operating costs should be maintained, calculated on the basis of an annual budget. The Trustees believe that this balances the need to apply funds to the mission whilst ensuring that there are sufficient funds available to run the day to day activities and manage any financial risks or any short-tem income volatility. At the end of the financial year. unrestricted reserves totalled £632,335 and represented just short of 8 weeks of operating costs. Th8 Trustees feel that these reserves along with our investments, which can be withdrawn in 10 days, provide sufficient liquidity and security for any short t6m volatility. INVESTMENT POLICY The "growth" portFolio strategy seeks to generat8 8 return above inflation over the long tsn. but with a level of risk that is acceptable within the volatility of the market. The portfolio is structured as Capital for the long temi, but none of it is illiquid, meaning it can be readily acSSed should the need arise. Income generated from the capital is paid into a cash account, allowing the Trustees to decide annually on whether to spend the cash, carry it forward or increase the capital. Page 10 of29 UKThe Christian nions
UCCF Trustses Report and Financial Statsments 2024 REMUNERATION POLICY UCCF seeks to be a good employer, both stewarding supwrters, money and providing staff with realistic salary so they can afft)rd necessities such as rent, food, and other living costs, as well as leisure activtties. In this regard, UCCF seeks to be an attractive employer to potential candidates and to retain excellent personnel whether single. married, or with a family to support. A fellowship-wide pay increase is considered on an annual basls and is primarily dependent on UCCF'S income. The pay increase is based on a range of indices such as the Retail Price Index and Consumer Pri Index. Consideration of what other organisations are doing regarding salary increases is made on a semi regular basis. This 0/0 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 rtain roles is carried out when recommended by the Trust Board. The last review for senior staff was completed in September 2015 with the conclusion that no adjustment Was required at that time. All staff are paid above the recomm8nded living wage and those working in London are paid an additional London allowan. In addition to salary and employee pension, UCCF provides life insurance for staff who have a financial responsibility to a family member while they are working for The Fellowship. In financial year 2024-2025 UCCF plan to review our Remuneration Policy and principles as part of a wider Ple of work evaluating how we support and enable our people to have confidence and joy in their vrfork with us. CONTRIBUTION OF VOLUNTEERS Some sixty volunteers (known as 'Relay Workers,) work closely alongside our own CU Staff Workers as part of their training on the Relay scheme. Relay Workers stay with UCCF for ten months, usually joining the scheme shortly after graduating. This scheme is a signfficant part of the work of The Fellowship. Around 33 volunteer Associate Staff Workers additionally contributed to our work locally in various ways imp)rtant ways. AUDITORS A SOlution to reappoint Forvis Mazars LLP as auditors to the Company and to authorise the Trustses to fix their remuneration was approved at the Annual General Meeting held on 241h November 2023. Forrfis Mazars LLP have expressed their willingness to continue in office as auditors and this will be submitted to the Annual General Meeting in November 2024. CHARITY FUNDRAISING UCCF is a Fellowship of students. staff, and supporters. All three groups are needed to achieve our vision of giving every student in Great Britsin an opportunity to hear and respond to the gospel of Jesus Christ. Therefore. it is important to us that we are good gospel partners and communicate VRII with our supporters. The Development and Communications Team support and train all stsff in fundraising best practice so that together we effectively resource this ministry through financial and prayer support. We do not use any fvndraisers or commercial participators. Page 11 of 29 UCThe Christian CF Unions
UCCF Trustees Report and Financial Statements 2024 As an organisation registered with the Fundraising Regulator we are committed to best practice and upholding the Fundraising Promise of legal, open, honest, and respecfful fundraising. We pay the voluntary levy, and we abide by the Code of Fundraising Practice. The relevant members of the Development and Communications Team are members of the Institute of Fundraising. In the 2023-24 financial year UCCF reiVed 1 fundraising complaint. Policies are in pla to handle and investigate fundraising complaints should they arise. We are committed to treating our supporters well and being good gospel partners. We have signed up to receive suppressions under the Fundraising Preferen Servi. We have also followed guidance from both the Fundraising Regulator and the Institute of Fundraising on how to ensure we protect vulnerable people and others in connecting with our fundraising. We recognise that some of the people that we engage with through our fundraising activtty will not always have the capacity, at the point of the interaction, to fully understand the nature of the donats.on they are being asked to give to UCCF or the consequences of making that donation. UCCF also understands that people in vulnerable circumstan5 may need further support before making a decision about whether to make a donation. We therefore have a poliw which provides a foundation of awareness and knowledge which enables all UCCF fundraisers to respond appropriately to people in vulnerable circumStans, putting the needs of the individual first, above and beyond securing a donation. It applies to all UCCF staff and volunteers who undertake fundraising on behalf of UCCF, that includes the Development and Communications Team as they fundraise ntrally. and Staff Workers and Relay Workers as they raise personal support. 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 accordan with the Statement of Recommended Practi and Accounting by Charities (revised 2019). So far as the Trustees are aware, there is no relevant audit information of which the company's auditors are unaware, and they have taken all the steps that they ought to have taken as Trustees in order to make themselves aware of any relevant audit infomiation and to establish that the company's auditors are aware of that information, and they have made such enquiries of their fellow Trustees and of the company's auditors for that purFX)se, and taken such other steps (if any) for that purpose, as were required by their duty as Trustees of the company to exercise due care. skill, and diligence. The financial statements have been prepared in accordance with the provisions applicable to companies. subject to the small companies. regime and in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). The Trustees Report was approved by the Board on and signed on its behalf by: Mr Simon Day CHAIR ofTRUST BOARD Date: lo 2oLY Page 12 of29 UKThe Christian Unions
UCCF Trustees Report and Financial Statements 2024 Independent audltor's report to the members of Universities & Colleges Chrlstian Fellowship Opinion bve have audited the financial ststements of Universities & Colleges Christian Fellowship (the 'charity') for the year ended 30 April 2024 which comprise the Statement of Financial Activities, the Balance Sheet, the Cash Flow Statement and notes to the financial ststements, including a summary of significant accounting poliaes. 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 the UK and Republic of Ireland. (United Kingdom Generally Accepted Accounting Practice). In our opinion, the financial statements.. give a true and fair view of the state of the charty's affairs as at 30 April 2024 and of its income and expenditure for the year then ended" have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practi. and have b*n prepared in accordan with the requirements of the Companies Act 2006. the Charities and Trustee Investment (Scotland) Act 2005 and regulation 8 of the Charities Accounts (Scotland) Regulations 2006. Basis for oplnlon Vve conducted our audit in accordance with International Standards on Auditing (UK) {ISAs (UK)) and applicable law. Our responsibilities under those standards are further descrlted in the "Auditorfs responsibilities for the audit of the financial statements. section of our report. We are independent of the charty in accordance with the ethical requirements that are relevant to our audit of the financial ststements in the UK including the FRC'S Ethical Standard and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Conclusions relating to going concern In auditing the financial statements, we have conduded that the trustees, use of the going concem basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have perfomed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitls ability to continue as a going concem for a period of at least bNelve months from when the financial statements are authorised for issue. Our responsibtlities and the responsibilities of the trustees with respect to going concem are described in the relevant sections of this report. Other inforniatlon The other information comprises the infomation included in the Trustees report, other than the financial ststements and our auditor's report thereon. The trustees are responsible for the other information contalned in the annual report. Our opinion on the financial ststements does not cover the other infonnation and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other infomation is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identrfy such material inconsistencies or apparent material misstatements, we are required to detemine whether this gives The Christian nions Page 13 of29
UCCF Trustees Report and Financial Statements 2024 rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard. Opinions on other matter8 pre8cribed by the Companie8 Act 2006 In our opinion, based on the work undertaken in the wurse of the audit.. the information given in the Trustees. Report which includes the Directors. Report prepared for the purposes of company law, for the financial year for which the financial statements are prepared is consistent with the financial statements: and Directors, Report included within the Trustees, Report has been prepared in accordance with appllcable legal requirements. Matters on which we are required to report by exception In light of the knowledge and understsnding of the charity and its environment obtained in the course of the audit, we have not identifd materÉal misstatements in the Directors, Report included within the Trustees, Report. We have nothing to report in respect of the following matter8 in relation to which the Companies Act 2006 and Charities Accounts (Scotland) Regulations 2006 requires us to report to you rf, in our opinion= adequate accounting records have not been kept or retums adequate for our audit have not been reiVed from branches not visited by us. or the financial statements are not in agreement with the accounting records and returns; or certain disclosures of trustees, remuneration specified by law are not made., or we have not received all the information and explanations we require for our audit; or the trustees were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies, exemption from the requirement to prepare a Strategic Report. Responsibilities of Trustees As explained more fully in the trustees. responsibilities ststement set out on page 9, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a twe and fair view, and for such internal control as the trustees deteIne 18 necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the trustees are responsible for assessing the charity's ability to continue as a going concern. disclosing, as applicable, matters related to going conrn and uslng the going concem basis of accounting unless the trustees either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do so. The Christian F Unions Page 14 of 29
UCCF Trustees Report and Financial Statements 2024 Auditor's rosponsiblllties for tho audit of the financial statements We have been appointed as auditors under Sects'on 44(1)(C) of the Charities and Trustee Investment (Scotland) Act 2005 and under the Companies Act 2006 and report in accordance with regulations made under those Acts. Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from materi81 misstatement, whether due to fraud or eThor, and to issue an auditorfs report that includes our opinion. Reasonable assurance is a high level of assuran but is not a guarantee that an audit conducted in accordance with ISAS {UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or eor and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of the financial statements. The extent to which our prOdureS are capable of detecb'ng irregularitres. including fraud. is detailed below. IrularitieS. including fraud. are InStanS of non-complian with laws and gUlatIOnS. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularits"es. including fraud. 8ased on our understanding of the charty and its activities, we considered that non-compliance with the following laws and regulations might have a material effect on the financial statements: Charities Act 2011, the Charities Statement of Recommended Practice, employment regulation, health and safety regulation and anti-money laundering regulations. To help us identify instances of non-compliance with these lay and regulalions, and in identifying and assessing the risks of material misstatement in respect to non-complian, our procedures included, but were not limited to.. Inquiring of management and, where appropriate, those charged with governance, as to whether the ¢harityis in compliance with laws and regulations. and discussing their policles and procedures regarding compliance with laws and regulations. Inspecting corresponden, if any, with relevant Ilcensing or regulatory authorities., Communicating identified laws and regulations to the engagement team and remaining alert to any indications of non-complian throughout our audit. and Considering the risk of acts by the charity which were contrary to applicable laws and regulations, including fraud. We also considered those laws and regulations that have a di1 effect on the preparation of the financial statements, such as tax legislation. pension legislation and the Companies Act 2006. In addition, VR evaluated the trustees, and management's incentives and opportunities for fraudulent manipulation of the financial statements (including the risk of oveIde of controls) and detemiined that the principal risks Nvere related to posting manual journal entries to manipulate financial performance, management bias through judgements and assumptions in signrficant accounting estimates, in particular in relation to income recognition (which we pinpointed to the cut off assertion) and the use of restricted funds. significant one-off or unusual transactions. Our audit prOdureS in latIon to fraud included but were not limited to: Making enquiries of the trustees and management on whether they had knowledge of any actual, suspected or alleged fraud. Gaining an understanding of the intemal controls established to mitigate risks related to Discussing amongst the engagement team the risks of fraud," and Addressing the risks of fraud through management override of controls by perfonning journal entry testing. Page 15 of29 UKThe Christian nions
UCCF Trustees Report and Financlal Statsments 2024 There are inherent limitations in the audit procedures described above and the primary responsibility for the prevention and detection of irregularities including fraud rests with management. As with any audit, there remained a risk of non-detection of irregularities, as these may involve collusion, forgery. intentional ornissions, misrepresentations or the override of internal controls. A further description of our responsibilrties for the audit of the financial statements is located on the Financial Reporting Council's websrte at wNYw.frc.org. uklauditorsresponsibilities. This description fonns part of our auditor's repo Use of the audit report This report is made solely to the charity's members as a bc*ly in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charity's members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibilty to anyone other than the charity and the charty's members as a body for our audit work, for this repor( or for the opinions we have formed. David Hoose INov25.2024 IB..43 Gmn David Hoose (Senior Statutory Auditor for and on behalf of Forvls Mazars LLP Chartered Accountants and Statutory Auditor 6 Domlnus Way Merfdian Business Park Leicester LE19 1RP Date: Nov 25, 2024 Page 16 of 29 Uff The Christian Unions
UCCF Tru3tees Report and Financial Ststsments 2024 Statement of Financial Activities For the year ended 30" April 2024 {incorporating an income and expenditure account) 2024 Total Unrestricted Restricted Funds Funds Funds 2023 Total Funds Unrestricted Restricted Fun(ts Funds INCOME from: Donations Legacies Charitable Activities Other Trading Activities Investments Other Total Income Note 3.102,868 424,538 290.339 62,128 49.092 168 3.929,133 76,380 3,179,248 424538 290,653 62.292 49,092 168 76.858 4,005,991 3,101,527 651,985 314,680 17,789 45.322 496,581 3.698,108 651,985 316,610 17,789 45.322 314 1,930 4,131,303 498,511 4,629,814 EXPENDITURE on: Raising Funds Charitable Activities Total Expenditure 323.705 4.110.602 4,434,307 1,441 325,146 138,245 4.248.847 139,686 4,573.993 298,186 3,937,273 4,235,439 1,506 299.672 435,188 4.371461 436,694 4.672.133 Net Incomel{Expendlturel Before Gainl{Lossl on Investment (505,174) 162,828) (568.002) 1104,1361 61,817 (42.319) Net gainl{losses) on Investment Net Incomel{Expanditure) 151.687 151.687 (56,333) 1353,487) (62,828) (41 13151 (160,469) 166,333) (98,652) 61.817 Transfers Between Funds Net Movement in Fundg 138,563 (138,563) 1214,924) (201,391} (416,315) (88,058) (228,527) 88.058 129,875 198,6521 RECONCILIATION of Funds: Total Funds Brought Forward Totsl Funds Carried Forward 2.447,492 1,787,098 4.234,590 2,232,568 1,585,707 3,818,275 2,674,019 1,657223 4,333,142 2,447,492 1,787,098 4,234,590 The Notes on pages 20 to 29 form part of these financial statements. Page 17 of29
UCCF Trustees Report and Financial Ststements 2024 Balance Sheet As at 30° April 2024 Company Registration No. 387932 2024 2023 Flxed Assets Tangible Nssets Investments Note 1,470,756 1,667,844 3,138.600 1,494,600 2,090,364 3,584.964 Current Assets Debtors Cash at bank and in hand 628,976 574.569 1,203,545 410,332 641,796 1,052,128 Creditors Amounts falling due within 1 year {523,870) (523,8701 (402,502) 1402.5021 Net Current Assets 679,675 649,626 TOTAL NET ASSETS 3,818.275 4,234,590 Funds of the charity Restricted Designated General TOTAL FUNDS 11 13 12 1,585,707 113.956 2,118,612 3.818,275 1,787,098 473.950 1,973.542 4,234,590 The financial statements have been prepared in accordance with the provisions applicable to companies. subject to the small companies. regime and in accordan with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). The Financial Statements were approved by the Trustees on and signed on its behalf by Simon Day (Chair and Trustee) V 2024 Page 18 of 29
UCCF Trustees Report and Financial Statsments 2024 Cash Flow Ststement For the year ended 30th April 2024 Note 2024 2023 Cash Flows from operating actlvltles Net income lexpenditure for the period adjustments for: Depreciation charges (Increase>ldecrease in debtors Increasel(decrease) in creditors Unrealised (Gain)ILoss on investments Investment income and interest less Inv Mgt Fee (Profit)Iloss on disposal of fixed assets (416,315} (98,652) 49,191 (218,644) 121.368 (151,687) (32,294) 38 58,793 (86,879) 26,257 56,333 (26,912) Net Cash provided by oparatlng activiti88 (648,343) 171,055> Cash Flows from investlng actlvltl Income from investments Tangible assets.. addltions Tangible assets.. sale proceeds Investrnents.. additions Investments.. sale prOed$ Net Cash provided by investing activities 6,426 {25.820) 510 5,760 (33,403) 285 600,000 581,116 (27.358) Movement in cash and cash equivalents in the reporting period 167,227) 198A13) Cash and cash equivalents at 1st May 641,796 740,209 Cash and cash equivalents at 30th April 574,569 641.796 Analysls of cash and cash aquivalents Cash at bank and In hand 574,569 641,796 The Notes on pages 20 to 29 fomi part of th880 financial Statements The Christian nions Page 19 of29
UCCF Trustees Report and Financial Statements 2024 Notes to the Financial Statements For the year ended 30, April 2024 ACCOUNTING POLICIES Basis of accounting These financial statements have been prepared in accordance with Aexounting and Reporting by Charities.. Ststement of Recommended Practice applicable to charities preparing their accounts in accordan with the Financial Reporting Standard applicable in the UK and Republic of Iland (FRS 102) (effective 1st January 2019)- (Charities SORP (FRS 102)), the Financial Reporting Standard applicab 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 unless otherwise stated in the relevant accounting policy or note. UCCF meets the definition of a public benefit entity under FRS 102. Going Concern The financial statements have been prepared on a going concern basis as the Trustees believe that there are no material UnrtaIntieS about The Fellowship's ability to continue as a going COnrn. The Trustees have considered the level of funds held and the exDected level of income and exDenditure 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. Funds Accounting The Fellowship's reserves are classffied in the following three ways.. General Funds-These are unrestricted funds available for use at the discretion of the Trustees to use in the normal 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 Twstees for a particular purpose. Restricted Funds- These are funds that are to be used in accordance Wlth specific restrictions imposed by donors or which have been raised by The Fellowship for particular purposes. The costs of raising and administering these restricted funds are charged against the specific fund. Income and expenditure relating to restricted andlor designated purposes are reflected in the Statement of Financial Activities ("SOFA°), with the resultant net incomingl(outgoing) reSoUrS thereon being appropriated each year to separate funds in the balance sheet. Tangible fixed assets Tangible fixed assets costing more than £500 a capitslised and included at cost, including any incidental expenses of acquisition to bring the asset into working condition for its intended use. Assets are reviewed for impairment by the Trustees if circumstances indicate their carrying value may exceed their net realisable value and value in use. Depreciation of leasehold propety is provided at a rate calculated to write off the cost over not longer than the remaining period of the lease. Realised gains and losses are shown in the appropriate section of the SOFA. The Christian Unions Page 20 of 29
UCCF Trustees Report and Financial Statements 2024 NOTES to the Financial Statements (continued) For the year ended 3 April 2024 Depreciation is provided at rates calculated to write off the cost of those assets on a straight-line basis over their expected useful lives. The plinpaI annual rates used a.. Freehold buildings Computer and other shorter life equipment Fixtures and fittings 2.0% 25.00 12.50 Investments Investments and loans hekl as fixed assets include listed investments. Listed investments are held at market value with any gain or loss being tsken to the SOFA. Income Income is included in the SOFA when The Fellowship is entitled to the income after any perfomance conditions attached to the income have been met, the amounts can be measured reliably, and it is probable that the income will be received. Donations - Donations are recognised when the re[pts have been deposited into the bank. The tsx recoverable under Gift Aid is recognised as income when it becomes receivable. Legacies - Legacies are recognised when probate is given and there is sufficient infomation to value them. Expenditure All expenditure is accounted on an accwals basis. Expenditure is renised when there is a legal or constructive obligation committing The Fellowship to the expenditure. Costs reported under each heading in the SOFA retlect the allocations of activities directly attributable to that heading together with an apportionm6nt of support and governan costs (S below). Raising Funds represent the expenditure incurred on generating funds from all the possible sources of income. Chantable activities represent the expenditure incurred on student ministry. Support costs include expenditure on office costs, govemance. payroll administration. infomation technology, human resources and financing. Together with governance costs they are allocatsd between the cost of raising funds and charitable activities as shown in note 3. Forelgn currency Transactions in foreign currencies are translatsd into sterling at rates of exchange ruling at the date on which transactions occur. All foreign currency balanS are translated at the rate ruling at the balance sheet date. Page 21 of 29 UIIThe Christian nions
UCCF Trustees Report and Financial Statements 2024 NOTES to the Financial Statements (continued) For the year ended 30th April 2024 Ponsions The Fellowship uses a defined contribution pension scheme run by The People's Pension (TPP). Employer contributions into the scheme and contributions payable to the pension scheme are charged to the SOFA In the period to which they relate. Financial Instruments The Fellowship only holds basic financial instruments as defined in FRS 102. The financial assets and financial liabilities of the academy trust and their measurement basis are as follows= Financial assets - trade, other debtors. accrued legacy income and gift aid recoverable are basic financial instruments and are debt instruments measured at amortised cost as detailed in note 8. Prepayments are not financial instruments. Cash at bank- is classified as a basic financlal instrument and is measured at face value. Financial liabllities- trade creditors, accruals and other creditors are financial instruments, and are measured at amortised cost as detailed in note 9. Taxation and social security are not included in the financial instruments disclosure definition. Deferred income is not deemed to be a financial liability, as the cash settlement has already taken place and there is an obligation to deliver services rather than cash or another financial instrument. Critical Estimatss and Areas of Judgement In the application of the charity's accounting policies. the trustees are required to makejudgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are consbjered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised, if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods. The trustees do not consider that there are any estimates and assumptions which have a signrficant risk of causing a material adjustment to the carrying amount of assets and liabilities. Page 22 of 29 UKThe Christian Unions
UCCF Trustees Report and Financial Statements 2024 NOTES to the Financial Statements (continued) For the year ended 30° April 2024 2. EXPENDITURE staff Support Costs Costs other Costs TOTAL 2024 TOTAL 2023 Deprn Expenditure on Raising Funds 188,308 54,272 78.986 Charitable Activities 2,592,687 805,649 804.900 Total Expendlture 2,780.995 859,921 883,886 3.580 325,146 299,672 45.611 4.248,847 4,372,461 49,191 4573,993 4,672,133 3. SUPPORT COSTS Faclllties &HR TOTAL 2024 TOTAL 2023 Finance IT Gov'nce Raising Funds Student Ministry Total Support costs 27,525 408,596 436,121 12,160 180,513 192,673 4,895 9,692 54,272 38.955 72,668 143,872 805,649 601,534 77,563 153W 859.921 640.490 Staff costs of £387,301 are included within support costs. Support Costs are allocated to activities on the basis of headcount. Page 23 of 29 UCThe Christian Unions
UCCF Trustees Report and Financial Ststsments 2024 NOTES to the Financial Statements (continued) For the year ended 30° April 2024 4. NET INCOMEI(EXPENDITURE) 2024 2023 This is stated after charging- Auditors, remuneration Depreciation Gift Aid (income) (14,000) (12,000) {49,191} (58,793) 288.312 304,898 5. EMPLOYEES and TRUSTEES a) EMPLOYEES Staff costs 2024 2023 Salaries Social security costs Pension Contributions 2.759.376 2,996.315 256.436 273,802 152.485 124,379 Total 3.168,296 3,364A96 2024 2023 Average staff numbers 105 114 Number of omployees whose total remuneratlon (excl penslons contrlbutlon & Nl) falls between the followlng range £60,000 - £69.999 £70,000 - £80.000 2024 2023 The staff costs shown above differ from those shown in note 2 by the amount of 8tsff costs included as support costs. Page 24 of 29 Uff The Christian nions
UCCF Trustees Report and Financial SLthments 2024 NOTES to the Financial Statements (continued) For the year ended 30° April 2024 Key management personnel remuneration The key management personnel of the charity comprise of the Directorate and Head of Finan. The Directorate includes the CEO, the Field Director, the Director of Creative Evangelism. the Direttor of People. the Director of Ministry Operations. Total remuneratlon (Incl penslon contrfbutlon) 2023 (Restated) 2024 Key Management 355.051 334,923 b) TRUSTEES No Trustee reiVed remuneration from the charity during the year (2023: £ nil). Trust&s are reimbursed for out of pocket travel and Subsisten expenses. 2024 2023 Trustees receiving re-imbursement Total amount of reimbursement £2.774 £1,878 Total donations reiVed from trustees during the year was £22,258 (2023: £4,330) c) RELATED PARTY TRANSACTIONS There were no related party transactions during the year {2023; none). Page 26 of 29 UCThe Christian IF Unions
UCCF Trustees Report and Financial Statements 2024 NOTES to the Financial Statements (continued) For the year ended 30 April 2024 6. TANGIBLE FIXED ASSETS Leasehold Computer, Property Fixtures & Flttlngs Total Cost At 1st May 2023 Additions Disposals At 30th April 2024 1.736.010 1,735,010 382,772 2,117,781 25,820 25,820 (31,509) (31,509) 377.082 2.112.093 Depreclafjon At 1st May 2023 Charge for year On disposals At 30th April 2024 284,824 24,768 338,358 623,182 24,423 49,191 {31,037) (31,037) 331,745 641.336 30991 Net Book Value At 30th April 2023 At 30th April 2024 1,450,186 1.425.419 44,414 1,494,600 45,337 1.470.756 7. INVESTMENTS Co8UMarket Value 2024 2023 Market value at start of year Additions at st Dividends reinvested less management fee 25,793 Disposals at carrying value (600,000) Change in market value 151,687 {56,333) Market value at end of year 1,667,844 2.090,364 Historical cost at 30th April 1,090,732 1,664,939 2.090,364 2.125,545 21,152 Investment Comprises: 2024 2023 Cash Listed Investments 49,364 63.537 1,618,480 2,026,827 Total 1,667.844 2,090.364 Page 26 of 29 UIThe Christian Unions
UCCF Trustses Report and Financial Statements 2024 NOTES to the Financial Statements (continued) For the year ended 3 April 2024 8. DEBTORS: Amounts falling due within one year 2024 2023 Trade debtors Accrued legacy Income Prepayments Gift Aid recoverable Other debtors 60,606 6,073 432,852 226,499 52.251 55.052 49,669 78,061 33,598 44,647 Total 628.976 410.332 9. CREDITORS: Amounts falling due within one year 2024 2023 Trade creditors Accruals Taxation and social security Deferred Income Other creditors and accruals 186.159 37,924 153,600 200.821 51,526 84,609 73,675 47,976 90,082 Total 523,870 402,502 Deferred Income COnferenlsuMMer Team income received in advance Relay training fees & deposits received in advance Donations for new staff post received in advance 70.988 12,250 1.371 84,609 58,515 15,160 Totsl 73.675 Prior year deferred inocme balances were utalised in the year 10. ANALYSIS of NET ASSETS BETWEEN FUNDS Unrestricted Restricted Funds Funds 2024 Total Funds Unrestricted Restricted Funds Funds 2023 Total Funds Tangible fixed assets Investments Cuent assets Current liabilities 45,337 1,425,419 1,470,756 44,414 1.450,186 1,494,600 1,515,851 151,993 1.667,844 1,755,803 334,561 2,090,364 1,193.821 9.724 1.203,545 1,027,080 25,048 1.052.128 {522,441) (1,429) (523,870) (379,805} (22,697) {402.502) 2.232,568 1.585,707 3.818.275 2M47,492 1,787,098 4,234590 Total funds Page 27 of 29 UIIThe Christian Unions
UCCF Trustses Report and Financial Statsments 2024 NOTES to the Financial Statements (continued) For the year ended 30° April 2024 11. RESTRICTED FUNDS Restricted funds are funds donated or allocated for restiicted purposes. Balance at 1st May 2023 Balanco at 30th Apr 2024 Income Expenditure Transfers Building Fund Exeter Uni CU Fund Forum Spring Appeal Gospel NE 'Vardy" Fund Teachers Neknvork Relay Worker Assistan Fund 1,584.917 3,177 (22,839) (136,659) 1,425,419 3.177 38,619 17,614 (38,619) (53,413) 163,061 5,333 {1,762) 125,500 5,333 19,200 1,425 (19,200) <5,615) (142) (139.686) 1138,563> 1,585,707 30,610 26,278 Total 1.787,098 76.858 The total transfer between unrestricted and restricted funds of £138,563 in the year is relates to 100 administration fees on all restricted donation plus transfer of £136,659 out of building fund due to a requested transfer of remaining cash from building fund to general funds by the donor. 12. UNRESTRICTED FUNDS Balance at 1st May 2023 Balance at 30th Apr 2024 Income Expenditure Transfers General Funds Designated Funds 473,950 86,609 (168,459) (278,144) 113,956 1,973.542 3,994,211 (4,265.848} 416,707 2,118,612 Total 2,447N92 4,080,821 (4.434.307) 138.563 2,232,568 Page 28 of 29 UKThe Christian Unions
UCCF Trustees Report and Financial Statements 2024 NOTES to the Financial Statements (continued) For the year ended 30" April 2024 13. DESIGNATED FUNDS The income funds of the charity include the following designated funds which have been set aside out of unrestricted funds for specific purposes: Balance at 1st May 2023 Balance at 30th Apr 2024 Income Expendlture Transfers Staff Worker Posts Job Retention Fund Building Maintenance Fund Directorfs Discretionary Staff Training Fund Strategic Research South East Big Weekend International Work London Tralning & Mission Fund Hardship Fund 4,302 Student Ministy Reserves 37,500 Total 473,950 23,417 366,666 15.000 3,619 (15,917) 7,500 (366,666) 14.302 (18.302) 11,000 3,619 32,000 4.936 306 9,793 3,000 7,143 63,120 (51,442) (69,379) (65) (13.354) 76,299 11,195 900 8.351 3,000 (529) (1,550) 16,346 4,302 37,500 (168,459) (278,144> 113,956 86,609 14. PENSIONS The Fellowship operates a workplace pension scheme whos6 assets are held separately from those of The Fellowship in an independently administered fund. All eligible staff are autoonrolled into the scheme. The Fellowship makes contributions into their scheme of 3¥., 5¥0 or 7.5 %. At 30th April 2024. there were contributions totalling £20,352 which were outstanding to the scheme. (2023; £24,480) Page 29 of 29 IIIIThe Christian Unions