2021-03-31-accounts

Trustees' Report		1 to 13
Statement ofTrustees'	Responsibilities	14
independent Auditors'	Report	15to 18
Statement of Financial	Activities	19
Statement of Financial	Activities	20
Balance Sheet
Statement ofCash Flows		22
Notes to the Financial	Statements	23 to 45

UNRESTRICTED FREE CASH RESERVES	POLICY	POLICY
Operating expenses contingency,	calculated		as 3
months central costs plus Advice		Plymouth		f268,000
services including extended resources		support.
Staff transition fund calculated	as	the rate of
keeping key staff in place ifthere	are	any gaps in		E25,000
contracts
Redundancy provision, calculated on redundancy costs for the organisation as at 31/03/2021				E96,000
Total Unrestricted reserves policy				E.389,000
DESIGNATED FUNDS
Covid Support and Recovery Fund				f90,000
Innovation and IT Fund				E43,600
Pension liability relief fund				E50,000
Ma or ro ect redundan fund				f36,000
Total Unrestricted plus designated				f608,600

						Defined
						Benefit
				Unrestricted	Restricted	Pension	Total
			Note	funds	funds	Scheme	2021f
Income and Endowments			from:
Donations and legacies			3	12,500	13,014		25,514
Charitable activities			4	2,017,177	1,789,256		3,806,433
Other income			5	14,053			14,053
Total Income				2,043,730	1,802,270		3,846,000
Expenditure on:
Charitable activities				(1,837,962)	(1,835,419)	1,000	(3,672,381)
Total Expenditure				(1,837,962)	~1,836,419)	1,000	(3,672,381)
Net income/(expenditure)				205,768	(33,149)	1,000	173,619
Transfers between	funds			15,172	(15,172)
Other recognised	gains
and losses
Actuarial gains/(losses)		on
defined benefit pension schemes						~86,000)	(86,000)
Net movement in funds				220,940	(48,321)	(85,000)	87,619
Reconciliation of	funds
Total funds brought	forward			637,320	84,719	(508,000)	214,039
Total funds carried	forward		18	858,260	36,398	(593,000)	301,658

					Defined
					Benefit
			Unrestricted	Restricted	Pension	Total
			funds	funds	Scheme	2020
		Note
Income and Endowments		from:
Charitable activities		4	1,263,087	1,578,148		2,841,235
Other trading activities		5	13,781	620		14,401
Total Income			1,276,868	1,578,768		2,855,636
Expenditure on:
Charitable activities			(1,365,038)	(1,608,165)	(29,000)	(3,002,203)
Total Expenditure			(1,365,038)	(1,608,165)	(29,000)	(3,002,203)
Net expenditure			(88,170)	(29,397)	(29,000)	(146,567)
Other recognised	gains
and losses
Actuarial gains on defined
benefit pension schemes					146,000	146,000
Net movement in funds			(88,170)	(29,397)	117,000	(567)
Reconciliation of	funds
Total funds brought	forward		725,490	114,116	(625,000)	214,606
Total funds carried	forward	18	637,320	84,719	(508,000)	214,039

Balance She	et	as at 3	1 March 2021
					2021	2020
				Note
Fixed assets
Tangible assets				12	9,497	12,132
Current assets
Debtors				13	369,809	191,011
Cash at bank and	in hand			14	1,110,790	1,195,144
					1,480,599	1,386,155
Creditors: Amounts		falling due within one year		15	(595,438)	(676,248)
Net current assets					885,161	709,907
Net assets excluding		pension	liability		894,658	722,039
Pension scheme	liability			16	(593,000)	(508,000)
Net assets including		pension	liability		301,658	214,039
Funds ofthe Charity:
Restricted					36,398	84,719
Unrestricted income		funds
Unrestricted					858,260	637,320
Pension reserve					(593,000)	(508,000)
Total funds				18	301,658	214,039

aemen oas Flows for the	Year En	ded 31 M	arch 202 i
		Note	2021f	2020f
Cash flows from operating activities
Net cash income/(expenditure)			173,619	(146,567)
Adjustments to cash flows from non-cash	items
Depreciation		12	8,176	18,539
Defined benefit pension scheme adjustments			(86,000)	146,000
			95,795	17,972
Working capital adjustments
Increase in debtors		13	(178,798)	(54,020)
(Decrease)/increase in creditors		15	(115,035)	109,168
Increase in deferred income			119,225	34,893
Net cash flows from operating activities			(78,813)	108,013
Cash flows from investing activities
Purchase oftangible fixed assets		12	(5,541)	(6,733)
Net (decrease)/increase in cash and cash equivalents			(84,354)	101,280
Cash and cash equivalents at 1 April			1,195,144	1,093,864
Cash and cash equivalents at 31 March			1,110,790	1,195,144

				Unrestricted
				funds	Restricted	Total	Total
				General	funds	2021	2020
				E
Plymouth City Council Advice
Plymouth				578,811		578,811	579,211
Plymouth City Council secondment							33,990
Plymouth City Council Housing
Options / PBS							(4,128)
Bulb 2				571,968		571,968
ATJF				15,286		15,286
Charls Relief	fund			10,448		10,448
Victim Care				20,000		20,000	20,000
Plymouth City Council Advice
Plymouth				17,726		17,726
Electricty - NW				15,800		15,800
Money Advice service - Trainee					10,381	10,381
BLF —Community		connections			47,599	47,599
OVO Energy				288,521		288,521	289,980
Money Advice Service					159,260	159,260	156,050
South West Water				70,000		70,000	70,000
SWW Social	Tariff			60,000		60,000	60,000
SWW Fresh	Start			33,000		33,000	33,000
EDF Energy					971,553	971,553	856,204
Sanctuary Housing				5,000		5,000
Kay Kendall	Leukaemia		Fund		65,761	65,761	73,933
COVID				22,765		22,765
Loan Shark					1,000	1,000	3,350
PGG Pension	Wise				382,226	382,226	440,648
IDMAP					49,136	49,136	47,963
Core				5,020		5,020
Single Q				7,051		7,051
Bulb				203,796		203,796	47,115
JFF				1,044		1,044
Central grants							1,386
Legal advice				35,001		35,001	30,602
Energy redress				49,440		49,440	4,168
Help to Claim					62,692	62,692	59,391
Universal Credit				6,500		6,500
USBPL					39,648	39,648	38,372
				2,017,177	1,789,256	3,806,433	2,841,235

		Unrestricted
		funds	Restricted	Total
		General	funds	funds
Other	income	14,053		14,053
Total	for 2021	14,053		14,053
Total	for 2020	13,781	620	14,401

	Activity
	undertaken	Support
	directly	costs	2021f	2020
Wages and salaries	2,277,145	357,535	2,634,680	1,914,352
Other costs	736,723	292,802	1,029,525	1,069,312
Depreciation	8,176		8,176	18,539
	3,022,044	650,337	3,672,381	3,002,203

			Unrestricted
			funds
				Restricted	Pension	Total	Total
		Basis of allocation	General f	funds	reserve	2021 E	2020
Staff costs -	wages
and salaries		Project FTE	180,017	178,518		358535	258411
Staff costs -	pension
costs		Project FTE			(1,000)	(1,000)	29,000
Legal and professional
fees		Project FTE	10,821	11,219		22,040	4,745
Office expenses		Project FTE	77,105	79,944		157,049	125,872
Depreciation		Project FTE					3,211
Governance	costs	Project FTE	3,361	3,486		6,847	7,463
Premises costs		Project FTE	51,226	53,112		104,338	99,850
Travel		Project FTE	1,243	1,285		2,528	6,452
			323,773	327,564	(1,000)	650,337	535,004

Governance costs
		Unrestricted
		funds	Restricted	Total
		General	fundsf	funds
Audit fees
Audit ofthe financial	statements	3,361	3,486	6,847
Total for 2021		3,361	3,486	6,847
Total for 2020		3,173	4,290	7,463

			202'l	2020
Operating	leases		86,205	69,226
Audit fees			6,847	7,350
Depreciation		offixed assets	8,176	18,539

10Staff costs The aggregate payroll costs were as follows:
	2021	2020
Staff costs during the year were:
Wages and salaries	2,359,495	1,664,357
Social security costs	182,091	128,623
Pension costs	93,094	121,372
	2,634,680	1,914,352

				2021	2020
				No	No
Average	monthly	number	ofemployees	120	87

12Tangible fixed assets
	Furniture	and	Computer		Leasehold
	equipment		equipment	f	improvements	Totalf
Cost
At 1 April 2020	100,854		105,647		20,490	226,991
Additions	1,678		3,863			5,541
Disposais		300)				(300)
At 31 March 2021	102,232		109,510		20,490	232,232
Depreciation
At 1 April 2020	96,902		102,512		15,445	214,859
Charge for the year		42	3,089		5,045	8,176
Eliminated on disposais		(300)				(300)
At 31 March 2021	96,644		105,601		20,490	222,735
Net book value
At 31 March 2021	5,588		3,909			9,497
At 31 March 2020	3,952		3,135		5,045	12,132
13Debtors
					2021f	2020
Trade debtors					202,890	102,426
Prepayments					34,648	36,280
Accrued income					132,026	52,305
Other debtors					245
					369,809	191,011
14Cash and cash equivalents
					2021	2020f
Cash at bank					1,110,790	1,195,144

15Creditors:	amounts falling due within one year
		2021	2020
			F
Trade creditors		62,258	53,537
Other taxation	and social security	52,177	31,571
VAT grant repayable		140,575	77,728
Other creditors		121,597	418,898
Accruals		44,123	39,031
Deferred income		174,708	55,483
		595,438	676,248

	2021	2020
SWW Fresh Start	34,792	208,923
Advice Plymouth	46,348	48,269
WOW (formerly Wiser Wonga)		6,487
BESW		555
Charis Fund	60	85,179

The amounts recognised in the s	tatem	ent	offinanci	al	position	are as follows:
						2021	2020
Fair value ofscheme assets						693,000	568,000
Present value ofdefined benefit	obligation					(1,286,000)	(1,076,000)
Defined benefit pension scheme	deficit					(593,000)	(508,000)
Defined benefit obligation
Changes in the defined benefit obligation			are as follows:
							2021
Present value at start ofyear							1,076,000
Current service cost							9,000
Interest cost							25,000
Changes in financial assumptions							228,000
Change in demographic assumptions							(12,000)
Experience loss on defined benefit obligations							(16,000)
Estimated benefits paid net oftransfers							(26,000)
Contributions by scheme participants		and	other employees				2,000
Present value at end ofyear							1,286,000
Fair value ofscheme assets
Changes in the fair value ofscheme		assets are as		follows:
							2021f
Fair value at start ofyear							568,000
Interest income							13,000
Return on plan assets, excluding	amounts		included	in	interest	income/(expense)	130,000
Employer contributions							6,000
Contributions by scheme participants							2,000
Estimated benefits paid plus unfunded		net oftransfers			in		(26,000)
Fair value at end ofyear							693,000

				2021f	2020 'E
Gilts				23,000	23,000
UK equities				77,000	76,000
Overseas	equities			358,000	244,000
Property				56,000	54,000
Infrastructure				28,000	24,000
Target return			portfolio	65,000	75,000
Cash				7,000	7,000
Other bonds				31,000	30,000
Alternative		assets		48,000	35,000
				693,000	568,000
Return on		scheme assets
				2021f	2020 F
Return on		scheme assets		143,000	(49,000)

The principal a	ctuarial assumptions at the statement	offinancial position date are as follow	s:
		2021	2020
			0/
RPI increases		3.20	2.70
CPI increases		2.80	1.90
Discount rate		2.00	2.35
Future salary increases		3.80	2.90
Future pension	increases	2.80	1.90

				2021	2020
				Years	Years
Current	UK pensioners	at retirement	age - male	23.00	23.00
Current	UK pensioners	at retirement	age - female	24.00	24.00
Future	UK pensioners	at retirement	age —male	24.00	24.00
Future	UK pensioners	at retirement	age - female	25.00	26.00

Amounts r	ecognised in the	St	ate	ment ofFinanc	ial Activities:
							2021		2020
							K'000		F'000
Service cost									11
Net interest	on the defined liability/			(asset)			12		15
Past service	costs								46
Total charge to Statement Activities			of	Financial			21		72
Sensitivity	analysis
					R'000	F000		R'000
Adjustment	to discount rate				+0.1%	pp		-0.1%
	Present value of	total		obligation	1,263	1,286		1,310
	Projected		service cost		13	13		13
Adjustment	to long term salary	increase			+0.1%	0.0%		-0.1%
	Present value of	total		obligation	1,287	1,286		1,285
	Projected		service cost		13	13		13
Adjustment to pension increases deferred revaluation			and		+0.1%	0.0%		-0.1%
	Present value of	total		obligation	1,309	1,286		1,263
	Projected		service cost		13	13		13
Adjustment	to life expectancy	assumptions			+ 1 year	None		-1year
	Present value of	total		obligation	1,347	1,286		1,228
	Projected		service cost		14	13		13

17Commitments Annual charges for operating leases which expire:
	Other	equipment	Land and	buildings
	31/03/21	31/03/20	31/03/21	31/03/20
			E
Not later than one year	23,129	23,303	79,000	46,083
Later than one year and not later than five years	16,512	39,641	128,375
Over five years
	39,641	62,944	207,375	46,083

18Funds							Other	Balance
			Balance				recognised	at 31
			at 1 April	Incoming	Resources		gains	March
			2020	resources	expended	Transfers f	l(losses)	2021
Unrestricted
General
Unrestricted	funds		587,720	2,043,730	(1,837,962)	(154,828)		638,660
Designated
Redundancy	major
projects			36,000					36,000
IT and innovation			13,600			30,000		43,600
Covid Support and
Recovery Fund						90,000		90,000
Pension liability		relief
fund						50,000		50,000
			49,600			170,000		219,600
Total Unrestricted			637,320	2,043,730	(1,837,962)	15,172		858,260
Restricted
Money Advice Service			(1,855)	159,260	(159,289)	1,884
Baring Foundation			1,095					1,095
MaPS Webchat-
(previously	IDMAP)		8,009	49,136	(53,334)			3,811
EDF Energy			37,636	971,553	(1,006,639)	2,237		4,787
Energy Trust EDFE			27,058		(23,000)	(4,058)
EDF Energy	Hub		4,168		(539)			3,629
Hub Office Move			1,545		(212)			1,333
Kay Kendall
Leukaemia	Fund		776	65,761	(65,761)			776
Citizens Advice Capital
Grant			2,293			(2,293)
PGG Pension Wise			2,825	382,226	(366,202)			18,849
Big Lottery	IFC		(60)		(12)	72
USBPL				39,648	(39,648)
Loan shark			1,229	1,000	(121)			2,108
Big Lottery	Fund-
Community
connections				47,599	(47,599)
'Coronavirus	Job
Rentention	Scheme			13,014		(13,014)
Money Advice Service
-Trainee				10,381	(10,371)			10

Notes to the Fina	ncial State	ments fo	r the Year	Ended 3	1 March 2	021
					Other	Balance
	Balance				recognised	at 31
	at 1 April	Incoming	Resources		gains	March
	2020	resources	expendedf	Transfersf	l(losses) F	2021
Help to claim		62,692	(62,692)
Total restricted	84,719	1,802,270	(1,835,419)	(15,172)		36,398
Other
Defined Benefit
Pension Scheme	(508,000)		1,000		(86,000)	(593,000)
Total funds	214,039	3,846,000	(3,672,381)		(86,000)	301,658

Notes to the Financ	ial Statemen	ts for the	Year Ended	31 March	2021
				Other
				recognised	Balance at
	Balance at 1 April 2019	Incoming resources	Resources expended	gains I(losses)	31 March 2020f
Unrestricted
General
Unrestricted funds	675,890	1,276,868	(1,365,038)		587,720
Designated
Redundancy major
projects	36,000				36,000
IT and innovation	13,600				13,600
	49,600				49,600
Total unrestricted	725,490	1,276,868	(1,365,038)		637,320
Restricted
Money Advice Service	21	156,050	(157,926)		(1,855)
Baring Foundation	4,325		(3,230)		1,095
MaPS Webchat-
(previously IDMAP)	34,436	47,963	(74,390)		8,009
EDF Energy	31,814	856,824	(851,002)		37,636
Energy Trust EDFE	27,058				27,058
EDF Energy Hub	6,863		(2,695)		4,168
Hub Office Move	2,609		(1,064)		1,545
Kay Kendall
Leukaemia Fund	4,697	73,933	(77,854)		776
Citizens Advice Capital
Grant	2,293				2,293
PGG Pension Wise		440,648	(437,823)		2,825
Big Lottery IFC			(60)		(60)
Loan shark		3,350	(2,121)		1,229
Total restricted	114,116	1,578,768	(1,608,165)		84,719
Other
Defined Benefit
Pension Scheme	(625,000)		(29,000)	146,000	(508,000)
Total funds	214,606	2,855,636	(3,002,203)	146,000	214,039

									Total funds
									at 31
				Unrestricted		funds	Restricted	Other	March
				General	Designatedf		funds	funds	2021
Tangible		fixed assets		5,542			3,955		9,497
Current	assets			1,124,858	219,600		136,141		1,480,599
Current	liabilities			(491,740)			(103,698)		(595,438)
Pension		scheme	liability					(593,000)	(593,000)
Total net		assets		638,660	219,600		36,398	(593,000)	301,658
									Total funds
									at 31
				Unrestricted		funds	Restricted	Other	March
				General	Designated		fundsf	funds F	2020 F
Tangible		fixed assets		5,510			6,622		12,132
Current	assets			959,487		49,600	377,068		1,386,155
Current	liabilities			(377,277)			(298,971)		(676,248)
Pension		scheme	liability					(508,000)	(508,000)
Total net		assets		587,720		49,600	84,719	(508,000)	214,039

20 Analysis ofchanges in net d	ebt
	1 April 2020	Cash flow	Other non-cash changes	31 INarch 2021
Cash at bank and in hand	1,195,144	(84,354)		1,110,790
Net debt	1,195,144	101,280		1,195,144