Reserves Policy

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Policy reference	AU-POL-14
Version	1.0
Approved by	Board of Directors, Apex Up CIC
Date adopted	4 June 2026
Last reviewed	4 June 2026
Next review due	4 June 2027 (or sooner if legislation or guidance changes)
Policy owner	Director, Apex Up CIC
Applies to	All directors, staff, sessional coaches, volunteers, students  and anyone acting on behalf of Apex Up CIC

Apex Up CIC Reserves Policy 

1 Policy statement 

Apex Up CIC aims to hold a sensible level of reserves so that we can keep delivering for our  community even when income is uncertain. This policy sets out how much we aim to hold,  why, and how we manage our reserves responsibly. 

2 Purpose and scope 

This policy applies to the Board of Directors and to anyone involved in managing our finances.  It sits alongside our day-to-day financial management. 

3 What we mean by reserves 

By reserves we mean our free (unrestricted) funds — money that is not already committed to  a particular purpose by a funder and is not tied up in fixed assets. Restricted grant funding is  kept and spent only for the purpose the funder agreed, and is not counted as reserves. 

4 Our target level of reserves 

As a small organisation that relies heavily on grant funding, we aim to hold free reserves  equivalent to around three months’ core running costs. This gives us enough to manage short term gaps in income, meet our commitments to staff and suppliers, and wind down responsibly  if we ever had to. The Board monitors our actual reserves against this target and recognises  that, as a developing organisation, it may take time to reach it. 

5 Why we hold reserves 

Reserves protect the people we serve. They allow us to keep sessions running if a grant is  delayed, to cover unexpected costs such as repairs, and to take up new opportunities without  putting our core work at risk. 

6 Building and using reserves 

We build reserves from any unrestricted surplus we generate. The Board approves any  planned use of reserves and, where reserves are drawn down, agrees how they will be rebuilt.  Spending decisions always follow our wider financial controls, including checking that costed  figures add up before they are approved. 

7 Monitoring and review 

The Board reviews our reserves position at least once a year alongside our annual accounts,  and more often if our financial position changes. This policy is reviewed at least annually.

AU-POL-14 | Version 1.0 Page 2 of 3 

Apex Up CIC Reserves Policy 

Approval and adoption 

This Reserves Policy has been approved and adopted by the Board of Directors of Apex Up  CIC. It will be reviewed at least every twelve months, and sooner if there is a change in  legislation, national or local guidance, or following any relevant incident or learning. 

Policy reference	AU-POL-14
Version	1.0
Date adopted	4 June 2026
Next review due	4 June 2027

Signed on behalf of the Board of Directors of Apex Up CIC: 

Muhammed Zahir 

Director, Apex Up CIC 

Date: 4 June 2026