We would like to understand your social venture costs. When planning your budget please bear in mind that an UnLtd Award can only be used to cover costs after the approval date. Any costs you incur before this date cannot count towards Award expenditure. We may ask you for more detail if your application progresses.
UnLtd Awards can be used primarily for running costs, but we will consider reasonable requests for capital items (fixed assets such as equipment). Conditions will apply to any individual items that cost over £1,000.*
Examples of the types of costs you could use an UnLtd Award to pay for:
- Company formation and registration fees
- Insurance
- Enhanced disclosures and safeguarding costs
- IT costs (conditions will apply to IT hardware items over £1,000)
- Printing, advertising, and publicity
- Venue and equipment hire
- Materials
- Travel and subsistence
- Volunteer expenses
- Mentoring and support
- Sessional and freelance costs
- Minor repairs, decoration, or the installation of minor fixes
This type of UnLtd Award cannot be used to pay for:
- Living costs, paying yourself, or staff on payroll
- Capital works; such as the acquisition, development, or structural improvement of land or buildings (including semi-permanent structures)
- The purchase of vehicles such as a car or van (we will consider the purchase of a bicycle(s) which is not for personal use)
- Loans or interest payments
- Contingency funds or amounts for general expenses where the intended use of funds is not clear
- Funding activities outside the law, against public policy or anything that fosters ethnic, religious, or commercial disharmony
- Funding to undertake formal qualifications (but can be used to provide short-term training if critical to the success of the venture)
- Funding to employ others to undertake the bulk of the award activity
- Costs incurred prior to receiving an Award approval from us
Value for money and transparency:
We expect Award Winners to ensure they are getting value for money; this may mean obtaining more than one quote for the supply of goods and services, using price comparisons, or considering alternatives where feasible. When using funds to pay others (such as sessional or freelance workers) Award Winners must avoid conflicts of interest, such as paying members of immediate family or household. Approval must be sought if you think a conflict of interest exists. We may ask you for more detail on your costs if your application progresses.
*In relation to assets costing £1,000 or more they will remain UnLtd’s property unless we agree otherwise, and at the end of your venture you must dispose of them as required by UnLtd. If disposal of assets gives rise to any income, we may seek repayment of the whole, or any portion of that income. Assets must only be used for the purposes of the venture. Unless we request disposal, at the end of your venture you will undertake to ensure that any assets will only be used for charitable purposes. If we end our agreement before completion of your venture, we may keep any of the assets.