COVENTRY INDEPENDENT ADVICE SERVICE REPORT OF THE TRUSTEES/DIRECTORS FOR THE YEAR ENDED 31" March 2023 COVENTRY INDEPENDENT ADVICE SERVICE REPORT OF THE TRusfEES/DIREcfoRS FOR THE YEAR ENDED 31" March 2023 The trustees, who are also directors of the charity for the purpose of the Companies Act 2CK16. present their report along with the financial statements of the Charity for the year ended 31" March 2023. The Trustees have adopted the provisions of the Statement of Recommended Practice ISORPI 'Actounting and Reporting by charitie￿ in preparing the annual report and financial statements of the charity. Structure. Governance and Management Coventry Independent Advice Service ICIASI is a Charitab￿ company. The Memorandum of Association establishes the objects and powers of the charitable company which is governed by the Articles of Association. In the event of the company ￿Ing wound up, members are required to contribute an amount not exceedirbg £1. Recr itment and a ointment of directors The trustees are appointed by ordinary resolution or by a detiSFtin of the existing trustees. Under the Articles of Association, one third of the directors are required to retire by rotation at each Annual General Meeting at which time they may seek reelection. Charity trustee5 are the people who share ultimate responsibility for governing the charity and directing how it is managed and run. During the past year the trustees have been meeting every 1-2 months to review perf0rrnan￿ and budgets as well as overseein8 the broad strategy of CIAS. CIAS operates in accordance with documented policies and procedures which a￿ designed to ensure that these responsibilities are fully met. Day to day management of attivtties is delegated to the Chief Executive Officer ICEOI who reports directty to the trustee board. Trustee induction and trainin CIAS has a recruitment process for new trustees which intludes a written application fomi followed by an initial meeting with the Chair and CEO. Trustee vacancies are advertised on the CIAS website and promoted through Voluntary Action Coventry and social media accounts. Officer role5 may also be advertised on recruitment websites. The induction Pfocess for new trustees comprises further meeting5 With the Chair andlor CEO followed by attending a trustees meeting as an observer. New trustees are given access to previous board papers, recent accounts and annual reports, the Memorandum and Articles of Association, and Charity Commission Guidance ICC31. New trustees also complete an NCVO e-learning module coverin8 the roles and duties of trustees. Coventry Independent Advice Service at htt s 1fcov3dvice.or .uk NCVO E-learning'Roles and Duties of Trustees. at hft bookin learnin trainin event series Risk Mana ement CIAS agree5 a three-year strategic plan and annually reviews its risk management plan to ensure strategic, bLAsiness, and operational risks are covered. CIAS has detailed Health and Safety, Risk Management and Safeguarding policies as well as other policies to ensure that risks are identified and managed. Public and professional liability insurance is held at a level recommended by our membership body, AdviceUK, alon8 Wlth appropriate levels of insurance against other identified risks such as fire and theft. Access to 2417 human resources and health and safety support is provided through a paid subscription to Croner HR. This support helps reduce exF)05ure to risk in these key areas. The subscription also includes an Employee Assistsnce Programme aimed at promoting and supporting wellbeing. Governance support, through membership of professional bodies including AdviceUK and NCVO, is also in place. Information Assurance and Data Protection CIAS has policies to effertively manage compliance with the General Data Protection Regulations IGDPRI which are reviewed and updated regularly. All staff receive GDPR trainin8 relevant to their role. Robust processes are in place to ensure that IT systems are secure and comply with recognised cyber security standards. These systems are supported by an external ￿ professional. The secure Microsoft 365 cloud-based environment is used for day-to-day operation5 and the online case management system, Advicepro. is used to secure all client information and case files. Both systems are fully assured and compliant with international dats secufity standards. The Microsoft 365 system was upgraded in 2021 to take advantage of enhanced security and protection options as more people were regularly working from home. Client data held in AdvicePro is securely stored in the UK within a robust, Secure operations centre compliant with Infomation Security Code of Practice 15027fKII, and automaticalfy backed up daily. Liabilities CIAS main liabilities are for staffin& pensions, and premises costs. Appropriate insurance is maintained to cover all identified liabilitie5 and we have a reseryes policy in place to ensure adequate protection Isee under 'Financial Reviev/ below). Trustees, res onsibilities in relation to the financial s tements The law applicable to charities in England and Wales requires the tru5tee5 to prepare financial statements for each financial year. whith gNe a true and fair view of the charl￿5 financial activities during the year and of it5 financial position at the end of the year. In preparing financial statements giving a true and fair view. the trustees should follow best prattKe and- Select suitable accounting policies and then apply them consistentty Make judgements and estimates that are reasonable and prudent State whether applicable accounting standards and statements of recommended practice have been followed. subject to any departures disclosed and explained in the financial statements,. and: Prepare the financial statements on the going concern basis unless tt is inappropriate to presume that the charity will continue in business. The trustees are re5pon5ible for keeping accounting records which disclose with reasonable accurary the financial position of the charity and enable them to ascertain the financial position of the charity, and which enable them to ensure that the financial statement5 comply with the Companies Act 2￿6. The trustees are responsible for safeguarding the assets of the charity and hence for taking reasonable step5 for the preventKin and detection of fraud and other irregularities. CIAS trustees continue to scrutini5e the organisation's finances in detail and financial statements are presented at each board meetings. All financial decisions are based on a full ur)derstanding of the charity's reserves position and the impact that future income and expenditure has on the overall financial situation. Public Benefit Statement In setting objectives and planning activities the trustee5 have complied with the requirements of Section 17 of the Charities Act 2011 by giving due consideration to the Charity Commission's public benefit guidance. In particular, the Trustees consider how planned activities will contribute to the aims and objectives set. Objectives and Activities CIAS charitable objertives are to promote any charitable purpose for the public benefit of communities in Coventry and the surrounding areas. predominantly by providing information. advice, public legal education. and other support to relieve poverty and hardship, reduce inequality and improve quality of life. CIAS core activities focus on the provision of advice and casework on welfare benefits and debt plus general advice and casework on other social welfare issues. Business planning and strategic development keeps these core artwities at heart with the aim of focusing work on the most disadvantaged and financially excluded sections of local communities. The services offered are f￿e and confidential. The range of specific activities focus on helping indNiduals and families to identify and claim benefits, to challenge benefit decisions. to advise on strategies for dealing with problem debt, to negotiate with creditors and to provide inforrnation and sUPPOrt on a range of other social welfrdre issues. The service model is focused on reachin8 people where they live, in their own neighbourhoods, and in areas of greatest need. Since the Covid-19 pandemic. advice services have been delivered using a mix of face-to-face work in community venues across and remote delivery via telephone and an online enquiry portal. CIAS recognises that its'USW is advice in communities and that remains the key focus of delivery. Over the past year a range of drtivities have been undertaken to help meet the charitable objectives, including.. Working closely with community partners. particularly Family Hubs and Social SupermarketslGrub Hubs. to ensure that'in person. services are targeted on those who need them most. Focusing on 'early help, and working with partners to help meet community need for advice and information before problems reach crisis point. Recruiting and supporting more volunteers, with a new Volunteer Mènager role, to help increase service capacity in response to rising demand. Developing our volunteer offer to include NVQ qualifications in Advice and Guidance alongside further support with their personal and professional development. Working with statutory and voluntary sector partners to produce resources in response to the cost-of-living crisis and to help address wider poverty and inequality issues. Engagement with city-wide initiatives around digital inclusion, public health and fsnanci31 capability. Maintaining and developing accessible advice and information for communities via telephone. email, and online enquiry. Maximising the income of individuals and families through increased benefit take-up and support with problem debt. Maintaining and further developing a public website, includin8 video advice resources and an enhanced 'self-help' section to enable peop￿ to find other sources of help locally and nationally. Working with students on the Public Legal Educatkon module at the UnNersity of Warwick Law School, inclLbding an internship, to further enhance our public facing offer. Seeking opportunities to help enhance service offer and demonstratin8 a good return on investment for funders. Helping address poverty and inequality by increasin8 the take-up of benefits and by offering debt advi￿ and casework. Playing a part in the life of the city through engagement with local initiatives. policy work and campaigns. Financial review Trustees agree a budget each year and a monitoring rew>rt is submitted to each board meeting. Tru5tee5 also receNe a more detailed quarterly finance report prepared by the treasurer. The CEO and finance a55iStant deal with day-to-day financial matters in accordance with well established procedures. A Finance and General Purposes sulKommittee. involving the Chair, Treasurer and CEO. meets at least quarterty to review pro8ress against budget and prepare rekK¢rts to the wider Trustee membership. CIAS uses the Xero financial software package which allows tnjstee officers. the CEO and the financial administrator to cafry Out their respectNe roles in a hybrid working environment. In ndex nditure Overall income increased from £397,124 in 2020121 to £415,093 in 2022123. This was largely due to an increased level of unrestricted donations secured through fundraising activity- Coventry City Council continue to be the main funder. but their grant-in-aid was frozen for the fifth yeaf in succession. representing a significant reduction in real tenns particularty as Inte￿5t rates are historitalty high. A three-year grant from the National Lottery has been secured to support the charities Volunteer Programme. This will bring additional financial securty and enhance seryice tapacity- Feeding Britain have also confirmed they will continue to support our work in social supermarketslgrub hubs through to 31" March 2024. Charitable expenditure continues to rise. resulting in a further redurtion in the charities reserves this year. In response to a higher predicted overspend, the trustees implemented a service review. This resulted in a staff restructure that included a redurtTron of the CEOS working hours, reorganisation of other management/supervisory roles. a lower than inflation pay settlement and the deletion of a vacant adviser role. While the restructure reduced overall staff costs, these still represent afound 80% of total charitable expenditure. With inflation still high, and news that our core grant from the city council will be frozen for another year. a further review of budget line5 has been undertaken when setting the budget for 2023124. Savings have been identified that will not have significant impatt on seNice delivery. but it is anticipated that reseThes will be further stretched. The need to diversify funding streams is recognised by trustees as critical to safeguarding the charl￿5 future and building capacity to meet ever increasing demand from beneficiar￿5. Reserves The trustees have set a ￿serveS policy that requires reseNes to be maintained at a level which ensures that core activity could continue during a period of unforeseen difficulty and that a proportion of reserves be maintained in a reodity realisable fomi. The reserves policy is calculated and reviewed annually by the Finance and General Purposes Sub-committee. The intention of the policy is to cover liabiltties including provision for redundancies. premises and other contrartual costs, a reasonable level of urgent contin8encies and the realistic costs that may be incurred if the charity were to be wound-up. The trustees a$5e5S the required level of reserves on an annual basis, alongside the operating budget. The assessment takes account of the income and expenditure risk within the budget and the need to keep sufficient bank balances to be able to manage the day-to-day fluctuations of receipts and payments. Any significant changes in activities or financial obligations that could affect the level of reserves is closely Monitored. Based on risk analy515, unrestricted reser¥es equivalent to at least three months operating costs were agreed to be necessary (representing approximately £99.IXKJ for 20231241- Unrestricted reserves at 31" March 2023 are £112.414. The trustees took a deliberate decision to invest reserves in core Servi￿ delivery during recent years in recognition of the increasing need within local communities. When project funding has ended, we have endeavoured to maintain delivery and to refocus re￿urCeS as necessary. After undertaking a budget review, the board have again set a deficit budget for the coming year. This will allow beneficiary need to be met while pursuing opportunities for additional resource. Investment Poli and Performance CIAS continues to bank with Unity Twst. an independent bank committed to supporting sociallv minded organisations across the UK. Investments a￿ held with Cambridge and Counties Bank and Redwood Bank. Investments are held in the form of notice accounts so that funds can be accessed within a maximum of 120 days. Finding a reasonable return on investment is still a major problem for the charity sector. Investments are regularly reviewed but, due to unattractive interest rates and the need to keep a level of reserves relativety liquid, potential income from these investments is limited. Acknowled ements The trustee would like to thank all the organisations and indwiduals who have supported their work in the past year. specificallv= Coventry City Council- for their continued support of the core advice service. The Nationa5 Lottery Community Fund-for their grant in support ofourvolunteer programme. Coventry General Charity and Coventry Church {Mun￿1paI) Charities for their one-off 8rants to help with running costs. Feeding Britain- who are 5UPPOrting work to embed advice services within Social Supermarkets and community GnJb Hubs in the ctty. Individual donors- A small number of people who regularly donate in support of the charities work or who make one-off donations. The trustees are extremely grateful to every one ofyou. Review of the Year Some facts and fi ures Our strongest indicators of success are the outcomes we help achieve for our clients, their families and for our city. These stories of change provide greèter evidence of our impact than simple outputs and help demonstrote progress in tackling poverty and inequality within Coventry and the surrounding area. In our annual rep)rt we want to show both. So firstly, a sumrnary ofouroutputs for the 2022123 financial year include.. We helped individuals and families to realise reported finanoal gains of over £3.5 million lup from £2.4 million in 20211221 which we estimate is worth at least £7 rnillion to the local economy as this money circulates rather than being taken out of the city. We opened 2473 new files for 2270 individuals and families. Thi5 represents an increase of over 30% on the prevKJus financial year, even though our resources have reduced in real terms. We closed 2375 files over the same perK>d as work was concluded. Our advisers completed over lIC￿ items of work including client interview5, research, correspondence, phone calls and other actions on behalf of our beneficiaries. Our public website was viewed 18392 times by 8099 visitors in the past financial year. Our two main er)quiry areas continue to be welfare benefrts173% of new files openedl and debvmoney guidance issues114%1. Many enquiries cover multiple issues. 46% of clients who supplied infomiation identified ès being from a minority ethnic community. 59% of clients were women. 29% of clients told us they had a lon8-term illness andlor disability- The financial gains we have helped achieved for clients helps to demonstrate the real value of our seryice to our clients, to the city and to our funders. Increased income and reduced indebtedness htt advice.0 .uk can be lrfe-changing, having a positive impart on heatth and wellbeing as well as providing increased financial security and stability. We recognise that the reported financial gains are like￿ to be signifitantly less the actual amounts realised. We base our reporting on a 52-week income projertion, whereas the real impact can last for a significalltly longer period and often for life. Additionally, some clients do not report outcomes to us. The social return on investment tan also not be understated. We estimate this year that our work is worth around £7 million to the city economy. We base this estimate on the local economic multiplier model which ￿c0£￿1$e5 that people on lower incomes tend to spend their money locally, which in turn creates jobs and wealth for local businesses and other services. Additionally. financial Security reduces pressure on health services and other social provision. Information advice and su ort Demand continues to be high. with open cases standing at 3LXI across the service (August 20231. Many enquiries are now received via our web enquiry forni, and this has proved particularly popular with third party agencies. including family hub staff and NHS social prescribers. Our advisers are flexible in their approach to contacting and helping clients, increasingly using WhatsApp and email to gather infomiation and offer advice. Our web-based casework management System allows us to text clients directly from their case. It also allows us to create digital forms of authority, which clients can receive and sign via their smart phone. This allows us to help people more quickly when we are negotiating with third parties on their behalf. However, we are not 'digital by defauly and our offer of face-to-face appointments in local communities continues to be our unique selling point. We acknowledge this ￿MaInS a lifeline for many people who struggle with accessing statutory agencies and their often-rigid contact method5. While requests for help with disability related benefits remain high IPIP, child DLA and work capability assessments). the cost-of-living crisis has meant an increase in applications to the local authority Household Support Fund IHSFI as well as to charitie5 and trust funds. In response. our Debt Advice Supervisor arranged for all staff to become 'trusted referrers. making it easier and quicker for us to help our clients. We also have support from our volunteers who can apply for HSF and charity applications on behalf of clients. We have continued to work with Warwick University Law School. Their Public Legal Education IPLEI module has enabled us to work with two groups of students this year. Students produced a g¥Jide to help people manage their Universal Credit journal and an information video on precarious work aimed at those with unpredirtable earnings IzerTrhour contracts and those working in the gig economy). Both will be available on our website and distributed to partners. For the second year running we have also wekomed an intern from the Law School. This is an opportunity for the intern to gain valuable real-life skills in an advice setting and for our charity to recelve some extra support across the Summer. We look forward to this successful partnership with Warwick Law School continuing. Our work in social supemarkets and community grub-hubs. sUPPOrted by Feeding Britain, has continued to be successful. This project has seen us embed advice Se￿iCe$ within local food hlt www.nèfton5ultin .com what-w èvalvation-im acl-3 essmen local-multi provision. providing advice at an earty stage and focusing on solutions to financial difficulties. By workin8 closely with the volunteers at each location we can build trust and engage with service user5 at an early stage, thereby helping to prevent future problems. The success of the project has seen Feeding Britain offer additional funding through to the end of March 2024 with the hope of longer term sUPPOrt beyond that. For such a smol15taff team, supported by a handful of dedicated volunteers, the Board is proud of the charivs achievements for individuals and families in Coventry, many of whom are faced with the real challenge of heating or eating daily. The profile of CIAS in the city has risen enormously during the years of the pandemic and is very much embedded in the life of the city and initiatives to tackle poverty and exclusion. Our eo Our charity has seen several staff changes in the last year. We recrulted a new Volunteer Manager, Daksha. thanks to funding from the National Lottery. She has already made great progress recruiting volunteers to enhance our service capacity and developing opportunities for members of our community to build skills and experience. We also said farewell to two of our colleagues, Gillian and Uzo, who were both experienced debt advisers. Both left to pursue opportunities elsewhe￿. Uzo was one of our longest serving empSoyee5. coming over to us from the fomer Wood End advice servKe. We wish them both well and will miss them. along with the knowledge and expertise they brought to the Service. Recruitment of new staff has been difficult and is a common theme within the advice sector. After several rounds we took on three new advisers. two of whom were appointed in trainee and development roles- a first for our charity. All three have fitted in well and we are excited to get to know them better. Our charity also undertook a service review this year, largely driven by increasing costs but also focusing on improving team structure and opportunities for development. Chan8e is often unsettling, but we are now in a stronger position to continue to deliver advice in the heart of ommunities. We are currentEy offering advice in eight locations across the city, including two social supermarkets, a community centre, and several family hubs Ifomierly Childrens Centresl. Our partners in these host organisations have told us how much they value our advisers being on hand to help clients and their own staff. and Diversi CIAS trustees answered the call from ACEVO to sign up to eight principles to address the diversity deficit in the charity sector. An action plan was produced (available on our websitelby a working group of trustees, staff and Volunteers and progres5 15 rnonitored by the trustees. Debt advice We offer a face-to-face holistic debt and welfare benefits advice and casework service. This approach is unique within Coventry and not widely replicated outside the city- Delivering this service in the community has never been more important or in demand than it 15 now. The Money Advice ACEVO at htt Iwww 3cevo or ht- rinci les-t0-address-th￿iVer$I -deficit-in-chari Trust reported that 3.7 million more households are behind with Households bills in March 2023 compared to March 2022 and an extra 3.3 millbon have gone without heatin8 over the same period. 2022/23 has been a very challenging year as we have seen increased demand and increased complexity. Demand for debt advice exceeds the cèpècity of our small team. and this experience is consistent with other community-based debt advi￿ organisations across the country As highlighted earlier. we recentty lost two caseworkers both of whom were Debt Relief Order IDROI approved intermediaries and held the Certificate in Money Advice Practice ICMAPI. Fortunately, we have recently been able to recruit a new DRO intern)ediary and CMAP accredited adviser. Denis. and one of our existing caseworkers, Lorelle, has recently achieved her CMAP qualification. We also have a much appreciated and dedicated Volunteer Debt Caseworker, Jeremy, who has also now achieved his CMAP. These staff are workin8 closely with our Senior Debt Caseworker. Caroline, to offer much needed casework and our two new trainee caseworkers are working through a comprehensive debt advice training programme. Our clients usually present with benefit issues alongside their financial difficulties and debts. Deficit budgets are a growing concern in the debt advice sectort and organisations that provide holisti advice are essential to ensuring income is maximised. The Money Advice and Pensions Service IMAPS) have not always been explicitly supwrtive of this holistic approach but are beginning to recognise why this is so fundamental. Most of our clients present with priority debts With council tax. rent and utilities being the most common. Many also have benefit overpayments (relating to DWP and the city councill resulting in direct deductions that can cause financial hardship. In recent months we have also seen an increase in clients needing help with mortgage payments as interest rates continue to rise. A high proportion of our debt clients also have difficulties with their mental health which is statistically consistent with UK data However, without additional funding or partnership support. this can make progress challenging and sometimes overwhelming for our advisers. We work closely with partners locally and nationally addressing debt related matters. We are an integral member of the local Council Tax knaison Group where we discuss issues such as affordable payments and enfortement. We work closely with the famity hubs and have been a central part of developing local financial wellbeing strategy. Our Senior Debt Caseworker has developed and delivered a series of 'Getting Early Help with Money Problems. webinars to statutory and community ageftcies acros5 Coventry alongside partners from Citizens Advi￿ and Central England Law Centre. At a national level, our Senior Debt Caseworker is now part of the MAPS Expert Adviser Panel which puts U5 at the centre of UK discussions around debt advice challenges and opportunities. The All- Party Parliamentary Group IAPPGI on Poverty are due to consult with thi5 panel shortly which we hope will res¥Jlt in raised awareness of issues that impact on Coventry residents and improves the chance of more positive outcomes. htt mone advicetiust. -conlen Under PressurÈ re ort - June 2023-2. df htt wearedebtadvisers.uk debt-advice-services-lack-the-ca load Mon Advice Tru new5 aci -ttrco with-the-CDSt-of-livinL- https'./lwww.i-m-a.or8.uklothèr-service5lsocialwlicylmaps-should-helpaddressouses-not-just-symptoms- of-deficit-budgetsl ' https'.//www.moneyJndmentalhealth.orgJmoney-and-mentsl-health-f3ctsl Volunteer ro ramme Funding from the National Lottery Community Fund was secured for a three-year programme. With the support of a new volunteer manager our intention is to grow the volunteer team and reach more people who need our support. Targeting disadvantaged communities across the city, strengthening our partnerships, and reaching people at early stages to prevent issues escalating. Increasing the capacity for practical assistance, such as form filling. money advice support and grants support and so save caseworker time to focus on complex work. Our programme will be spltt into two distinct phases. the first to increase the capacity of our existing volunteer programme, updating and streamlining our volunteer processes and procedures. The second phase. looking at emerging t￿ndS in volunteerin& and the latest ￿searCh and design a programme that can deliver-. Flexible volunteer opportunities. use volunteer expertise to tackle the common issues such as digital exclusion. We will focus on volunteer ￿tentIOn and create more opportunities to socialise, target individuals who face barriers to volunteering and create a pipeline of trained volunteers who could progress into paid F#)Sitions. Our targets include increasing the size of our volunteer team who will give us approximotely 50 hours every week. We have alrea(ty made inroads to achieving this increase in capacity. We will introduce a new visual communications volunteer. who will support the development of our brar)ding around volunteering. In our second phase we will recruit community digital volunteers, to deliver our community events to help local residents to develop their skills to find the information. advice and support they need online, in essence helping people to help themselves. We look forward to embedding best practice in volunteer management and being innovative in the way we work with volunteer resources. The Board would like to thank all our exi5tin8 and previous volunteers for their dedication and commitment to our charity. We recognise that YOU 8ive your time for free, and your support is invaluable. Communi We have delivered 3 community digital days at Fole5hill Library and supported approximately 25 people with a range of queries including how to use MS Word to produce a letter related to passport renewal through to 4 older Asian women just starting their digital journey. There is high demand for support from very basic skills through to more complex queries. We will be delivering 2 more events before the end of Detember. We ￿te1Ved 10 tablet devises from the #Covconnert device bank, all 10 devices have been allocated to people who are digitally excluded. Recipients shared a variety of reasons why they need a device from being able to do online trainin8. homework. and job searche5 to people being unable to use a phone because the screen is too small. We have allocated 5 Facebook Portals to Age UK who will be using them Dementia Day activitie5 for music (past and presentl, games such as musical bingo, birthday reminders for members. gettin8 in touch with family members whilst at the day centres. We have trained 5 new Community Digital volunteers and 3 existing volunteers to support the community digital sessions. The feedback after volunteering has been positive, 'My confidence has improved, and I feel great to achieve this.. The Future Strate The Board continues to focus on the longer-tem development of the charity. Entering the third year of our strategy. the key priorities are= To refresh our commitment to delivering face to face IF2F) advite in the community. Although Covid tau8ht us that remote services are valuable, we acknowledge that our USP is community-based advice. In the comin8 year we aim to expand our outreach offer and roll back some of our telephone offer to ensure capacity. Other advice providers Inotably Citizens Advice) have focused on a 'telephone firsv model, and so we intend to use our own telephone lines a5 a point of access rather than the main route for advi￿ delivery. Our online enquiry service remains popular, largely with third-party referrers. and so we will maintain this within our integrated advice model. To further develop our volunteer programme. As three years of fundin8 have now been secured from the National Lottery, we are able to expand our programme in line with our ambitions. We now offer a range of opportunities for volunteering alongside access to NVQ qualifications and other learning opportunities. Ensure that we are ready for Advice Quality Standard IAQS) rfrevaluation in January 2024. The board recognises the value of continuing to hold the AQS as It gives confidence to clients, stakeholders. and funders that high standards of service and quality of advice are in place. Consider how best to deliver debt advice going forward. We recognise the huge importante of community-based debt advice, but funding has been difficult to obtain. We already work closely with advice partners and the city council. among others, to highlight the importance of accredited debt advice in the city and will seek further opportunities for our own, and partnership, activity as the tost-of-living crisis continue5. To identify and irnplernent artions to improve diversity and inclusion within the charity. This is an ongoing artivity based on the ACEVO diversity and inclusion principles io Progress against identified actions is kept under review by the Board. Improving focus on wellbeing. We achieved the Foundation Level of the West Midlands Combined Authority Thrive at Work. programmell last year. We aim to achieve the Bronze Level award by the end of 2023124 and to also improve our 'informaV wellbeing activities, including team building and engagement events. Redevelop and relaunch the Advice Servites Coventry public website. Progress on this has stalled as Coventry City Council announced a review of advice provision in the city during the past year. A public website was identified as part of a city council review of advice provision in the city but. at the time of writin& this review has been 'paused'. Review staff roles. resources and core advice offer. An internal service review took place during the first six months of thi5 financial year which resulted in o limited-service restructure and plans for a refocus on community advice, as mentioned earlier. Review fundraising strntegy. We worked with Michael Mogan MBE, of Mogan & Mogan consultancy, to develop our strategy and support fundraising activity during the past year. This helped us to focus on what matters m05t and was successful in bringing in the Lottery io 'Eight principle5 to address the diversity deficit in charity leadership, at htt cevo.or ei ht- Thrive at Woik." About the programme. at htt workydb￿U1',￿,e hlt anandmo www.wmca.or . what-we-do thrive thfivtrat- an.co.uk our le funding and some other smaller pots. The current climate for fundraising, particularly in the advice sector. is difficult but we continue to pursue appropriate opportunities and identify potential partnerships. To consider and develop a succession Strat￿- a national shortage of experienced advisers raises the question of how best to 'bring people through, as roles emerge. Our CEO is working with colleagues across the UK on the development of initiatives to tackle this national recruitment challenge as well as looking internally. The internal restrLTrCture created new'senior roles, grvin8 Opportunities for development. and our volunteer programme will feed into this too. The annual report was approved by the trustees of the charity on signed on ils behalf by: Nov 28, 2023 and Damon Swindell Director & Chair of CIAS Trustee Boèrd Charity registration number 1015216 Company regtstratlon numbgr 02761115 (England and Wales) COVENTRY INDEPENDENT ADVICE SERVICE LIMITED ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 ## |**Chairperson**|Damon Swindell|| |---|---|---| |**Trustees**|Cllr Joseph Clifford|| ||Cllr Rachel Lancaster|| ||Isabelle Osbourne|| ||**Mark**Monaghan|| ||DamonSwindell|| ||JamesRose|(Appointed24October 2022)| ||Zainib Hussain|(Appointed24October 2022)| |**Secretary**|**AlanMarkey**|| |**Charity number**|**1015216**|| |**Company number**|**02761115**|| |**Principal address**|OakwoodHouse|| ||Cheylesmore|| ||Coventry|| ||WestMidlands|| ||UnitedKingdom|| ||CV12HL|| |**Registered**office|OakwoodHouse|| ||Cheylesmore|| ||Coventry|| ||WestMidlands|| ||UnitedKingdom|| ||CV12HL|| |**Independent examiner**|AmandaAsbury|| ||16EmilyAllenRoad|| ||WhitmorePark|| ||Coventry|| ||CV62PN|| COVENTRY INDEPENDENT ADVICE SERVICE LIMITED LEGAL AND ADMINISTRATIVE INFORMATION Bankern Unty Trust Nine 8rindley Place 4 Oozells Square Birmingham B12HB Reoknod Bank The Nexus Buildir Broaokny Letchworth Garden C SC6 3TA Cambridge and Count*s Bank Charnwood Court 5B New Wdlk Leicester LE16TE COVENTRY INDEPENDENT ADVICE SERVICE LIMITED CONTENTS Paga IndepwNJent examinerfs reFXXt St*ement ol financial acts"vilies Balanee sheet Notes lo the finanaal *alements 4-14 COVENTRY INDEPENDENT ADVICE SERVICE LIMITED INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF COVENTRY INDEPENDENT ADVICE SERVICE LIMITED I report to the trustees on my examinab.on of the financial statements of Covm Independenl Advice Service Limited Ithe chantyl for the year ended 31 Mareh 2023. Responsibilities and basls of report As the trustees ol the chanty land also rts directors for the of company law) you are responsible for the preparation of the financial ststements In accordance the requirements of the Companies Act 2006 Ilhe 2006 Acti Having satisfied mysew that the finanual statements of the chanty are nol required lo be audited under Part 16 of the 2006 Act and are eligible lor IrKlependent examjnalion. I report In respect of my examination of the chanty's financial statements carried out under sects'on 145 of the Charities Act 2011 (the 2011 Actl. In carrying out my examination I have folFowed all the aFplicable Diieth"ons given by the Charity CoMmis￿On undei sethon 14515llbl of the 2011 Act Independent èxarnlnerf$ statement Since the chanty's gross income exceeded £250.000 y¢yJf examingr must be a member of a ￿dY listed in section 145 of the 2011 Act. I confimi that l am qualified tr) urKlertake the examirth.on because l am a member of Associatson ofAccounling Technic*ans. vthich Is one of the Iisled bodies. I have completed my examination. I confirFn that no matters have c¢)me to my attention in cOnneCt￿n with the examination giving me cause to bel*ve that in any material respect. aCC￿jntsng records were not kepl in respect of the ¢hanty as ￿ulTed by seth.on 386 of the 2006 Act., or the financial statements do not accord tl)ose records." or the finanual statements 110 not comply ￿ the accounting requirements of section of the 2006 Act other than any requirement that the accounts give a true and fair vivw v*hth is not a matter conSide￿d as part of an Independent examination". or the finanaal statements have not been prepared in accorda￿ with the methods aThJ principles of the Statement of Recommended Prath"ee for accounb'ng and reporttng by charittes applicable to charities preparing their accounts in accordance vth the Financial Reporb'ng Stsndard applicable in the UK and Republic of Ireland IFRS 102). I have no concems and have come across other matters in conr*cb"on the eXaMina￿n to %￿1¢￿ attention should be drawn in this report N) order to enable a proper understsndiThJ of the finanual slalemenls lo be reached. Amanda Asbury FCCA 16 Emity Alen Road ilmore Park Coventry CV6 2PN Dated.. Nov 28, 2023 COVENTRY INDEPENDENT ADVICE SERVICE LIMITED STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOMEAND EXPENDITUREACCOUNT FOR THE YEAR ENDED 31 AIARCH 2023 Unrestrlcted Restricted funds funds 2023 2023 Total Unr•strl¢ted Restrict•d funds lunds 2022 2022 Total 2023 2022 Notss Income from: Donations, legacies and grants Other trading activities Inveslments 336,788 39,791 376,579 330.892 48,960 379,852 37.500 1.014 37.5DJ 1.014 16.197 1.080 16,197 1,080 Total Incorne 375,302 39.791 415.093 348.169 48.960 397,129 Ex endbture on: RaisTng funds 7.200 7.200 2.561 2,561 Chanlable activitses Advice Service 383.322 49.077 432,399 376.873 74.726 451,599 Total charitable expenditure 383.322 49.077 432.399 376.873 74,726 451.599 Totsl oxpendltur• 390.$22 49.077 439,599 379.434 74,726 454.160 Gross transfeis be￿en funds Net eX￿ndIture for the yearl Net movement in funds {5691 {15,220) (9,286} 124.5(￿) (30.696) (26.3351 157,0311 Fund balances at 1 April 2022 127.634 9,286 136,920 158.330 35,621 193.951 Fund balances •t 31 March 2023 112,414 112,414 127,634 9.286 136,920 The slalement of finanaal activibes ineJude5 all gains and losses recojnised in the year. l income and expenditure derive from eonbnuir4J acts'vities. The slalemenl of financial admts.es also Complies wilh the requirements for an income and exper￿ltUre ac￿￿nt under the Companie$Act 20C6. COVENTRY INDEPENDENT ADVICE SERVICE LIMITED BALANCE SHEET ASAf31 MARCH 2023 2023 2022 Nolgs Flxed as$•ts Tangible assets 12 3.565 Current assets Debtors Cash at bank and in hand 13 7,598 118.170 147,283 125.768 147,283 CreditoTr.' amounts falling due within one year 14 116.919) {15,007) Nel current assets 108.849 132,276 Total assets less current liabilities 112.414 136.920 Income funds Restsided funds Unrestricted fvnds 16 9.286 127,634 112,414 112.414 136.920 The company is enlrtled lo the exempkn.on from the audrt requirement corrtained in section 477 of the Companies A 2006, for the year ended 31 March 2023. The directors aCknow￿ge their responsibilrtj'es for com￿y1￿j wth the requ1￿ments of the Companies Act 2006 with respect lo accountsng records arKI the preparnknon of financial statements. The members have not required the ccrfnpany to oblain an aLHIrt of rts fina￿81 slatements for the year in question in accordan￿ ￿th seth.on 476. These financial statements have boen wep8￿￿ in aC£Ordan￿ the provI￿onS applicable to companies subjeci to the small companies regime. Nov 28. 2023 The finanoal statements were approved by the Tnjslees C￿ ......................... Damon S￿ndelI Truste8 Company registration number 02761115 COVENTRY INDEPENDENT ADVICE SERVICE LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 Accountlng pollcl8s CharFty Infomwtion Coventry Independent Athice Service ￿rnrted is a piivate company limrted by gu8rantee incorporated in England and Wdle5. The registered office is Oak%￿ Hc¥Jse. Cheylesmore. Coventry, ￿5t Midlands. CV1 2HL, United Kingdom. The charity is limited by guarantee. incorporated tn England and ￿tsIes. and consequently does r￿t have share caprtal. Each of the tnjstees are liable lo contnbLrte an amount not exceeding £1 lowards the assets of the chartty in the event of IiquKlation. 1.1 Acc¢untlng convention The financial stslemenls have teen prepared in accordarKe th the tharty's Igoveming documenll, the Companies Act 2006, FRS 102 'The Financial Report"Eng Standard applicable in the UK and Republic of Ireland. I'FRS 102? arKI the Charities SORP "Accounkn"ng arKI Repo￿ng by Charits"es." Slalement of Recommended Practice applicable to charitses prepanng their accounts in accordance the Financial Reporting Stsndard awicable In the UK and Republic of Ireland (FRS 1021" leffe¢tsve l January 20191. The charity is a Public Benefft Enth"ty a5 defined by FRS 102. The charity has tsken a(fvanlage of the wovisions in tr* SORP for tharrties not to prepare a Statement of Cash Flows. The finanual $18tements are prepared in sterling. ￿1th is the fiJnCtiOn￿ wrrency of the charity. Monelary amounts in these financial statements ￿e rounded to the nearest £. The finanaal statements have been prepared under the historical Cost ￿n¥entsOn, Imodified lo indude the valuats.on of freehold properties and to indude investment properties aThJ certain financial instruments at fair valuel. The prinupal accounts'ng polic￿$ adopted are sel out below. 1.2 Golng coneem Al the bme of approving the financial statements. Ihe trustees have a reasonable expectation that the charity has adequate Tesources to ¢onlinue in Orerat￿al existence for the foreseeable fijture. Thus the trustees continue to ailopl the going concem bags of accountsng in preparing the financial slalemenls. Wth regard to after 31st March 2024. the most signfficant area of uncertainty of the Chanty is the level of grants to be receF¥ed from Coventry City Council. wknich at the balance sheet has not been agreed beyond 31" March 2024 . 1.3 Charltable fund$ Unrestricted ffiJnds are available for use at Ihe disuetion of the trustees in fijrtherance of their charitable obieth"ves. Restricted funds are subj'ect lo speu.fic Cond￿On5 by donors as to how they may be used. The purposes and uses of the restn.cted fun¢ts are set out in the notes to the finanoal statements. 1.4 Incom& Income is recognisetl wfien the charity is kgaly erthed to rt after any perfomwnce t¥)ndkn"ons have been met, the amounts can be measured reliably. Cash donations are recognised on receipt. Other Ilonatrons a￿ reeognised once the charrty has been notified of the donation, unless perfomiance cor+ditsons require ijelerral of the amourt. Income lax recoverable in relat￿n to donth.ons r8cwved uThJer Gtft AJ"d or de* of covenant is reeognised at the lime of the donation. COVENTRY INDEPENDENT ADVICE SERVICE LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED FOR THE YEAR ENDED 31 MARCH 2023 Accounting poll¢les {Cofttinuedl Legacies are reccgnised on r￿pt or otherwise rf the charity has been notffied of an impending distribution. the amount is known, and receipt is expected. If the amount is not known, the Wcy is treated as a cothngent asset. Grants are recognwd ￿ the tharty has an wrtillement to the and arry cond￿"0￿5 linked to the grants h8ve been met ¥there performance con(l￿.0nS are attached lo the grant and afe yet to be met, the income is iecognised as a I￿￿"11ty arKI Ind￿ on the balar￿e sheet as delerr&J In￿Me lo be released. Unrestricted funtjs a￿ availthe for use al the discretion of the trustees in fUrthera￿e of their charttable objectives. 1.5 Expenditure All expenditure ts recognised once there is a legal or construcbve obluth'on lo that expenditure. it is probable settlement is required and the amount can be measured ￿lI￿bly. AJI costs are albcated to the applicable expendrture heading that aggfegale ￿milar costs lo that category. costs cannot be directly attributed lo parts'cular headings they have been allocated on a ba￿S congslent ￿th the use ol resources, with central stsff costs allocated on the basi5 of tsme spent. and depreaation charges allocaled on the portion of the asset's use. Other supw)rt costs are albxated based oll the spread of staff ￿Sts. 1.6 Tanglble fixed assets Tangible fixed assets are inthmy measured at cost and subsequenty measured at cost or valuation, net of depreciab'on and any impaimienl losses. DepTectation is recognised so as to wrtte off the eost ￿ valuab.on of assets less thwr residual values over their useful lives on the followng bases.. Office equipment straighuine method over three years The gain or loss arigng on the disposal of an asset Is detemiined as the drffererKe be￿een the sale proceeds and the carrying value of the asseL aThJ is recognised in the slalement of finanoal activities. 1.7 Impaimiènt of fixed assets Al each reporb'ng end date, the charity ￿ViewS the carrwng amounts of rts tangible assets to determine whether there is any indication that those assets have suffered an impajment loss. If any such indication exists, the recoverable amourrt of the asset is estimated in onler to delemine the extent of the impairment loss (if any). 1.8 Cash and cash ￿Ul¥alents Cash and cath equivalents Ind￿￿e cash in hand. depa￿ts ￿1￿ at call wrth banks. olhw short-lerm liquid investments wrth oryinal malurrtj.es of three morrths or less. a￿1 bank overdrafts. Bank overdrafts are shown wthin borrowings in curren110￿l￿.e5. 1.9 Financlal Instruments The charity has elected to apply the provtsions of Seth"on 11 'Basic Financaal Instruments. and Section 12 'Other Financial Instruments IssLSeS' of FRS 102 to all of rts finanaal instruMe￿s. Finanoal instruments are recognised in the charity's balance S*￿t when the charity becomes paty lo the contractual PrO￿$10n8 of the instrument. Finan￿al assets and liabil￿9$ a￿ offset. *ith the r*t amounts presented in the financial statements, when there is a legally enforceable right lo sel off the recfxJnised amounts and there is an intention to settle on a net basis or lo realise the asset ar￿ settle the liabilty simultaneously. COVENTRY INDEPENDENT ADVICE SERVICE LIMITED NOTES TO THE FINANCIAL STATEMENTS ICONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 Accounting pollcies ICot)tlnuodl Basic financ￿1 assets Basic finan￿al assets, vthith indude debtors and cash and bank balances. are initially measured at transaction price Inclu(Jing transactifm t3)sts and are subsequentty carried at amortised cost using the effecbve interest method unless the arrangemenl consbtvtes a financing Iransacb'on. v4heTe Ihe transaction is rneasured 8t the present value of the future rwipts dI￿Unted at a mathet rale of interest. Financial assets classtfied as receivable wAlhFn year are not aM0￿.Sed. Basic financial liabililies Basic financial liabilrties, induding cre(lilors and bank loans are initialty recognised at transartion price unless the arrangement Constrtutes a finanong transaclion. where the debt instrument is measured at the present value of the futu￿ payments discounted * a matket r*e of interest. Financial liabilib.es classified as payable within one year are not amorb'sed. Debt instruments are subsequenty carried al amortts&I cosL usng the effethve interest rate melhod. Trade ¢redilors are Obligat￿n$ to pay for gc*)ds or services that have been acquired in the ordinary course of oper*ions from suppliers. Amounts payable are da￿fied as cJJrrenl liabilities if payment is due within one year or less. If not, they are presented as nOr1￿U￿e￿t liabihties. Trade creditors are recognised initially at transath'on Pri￿ and wbsequenty measured 81 amorb.sed cost Using the effecbve interest method. Derecognhion ol finan¢lal Ilabllldes Finanaal liabilit￿S a￿ derecognised Vtt￿n the chty's contrxthl 0t4lgat￿nS ewre or are discharged or Cancelled. 1.10 Taxatlon The charity is considered to pass the tests set out in Paragraph 1 Sthedule 6 of the Finance Act 2070 and therefofe it meets the definition of a challtable company for UK corporation tax purposes. Accordingly, the charty is polenlialty exempt frcrfn taxatton in respect of income of caprtal gains received wthin categorie5 covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Sethon 256 of the Taxats'on of Chargeable Gains Act 1992, to the exient that such income or gairs are appl￿ exdusively to charita￿e purposes. 1.11 Employee beneffts The cost of any unused h￿idaY entillement is recognised in Ihe pen'￿1 in which the employee's services are received. Terrninalion benefits are recognised immedtiately as an expense when the chanty is demonslratrAy committed lo terminate the employment of an employee or to Provide terminats'on beneffts. 1.12 R•tlrement benefits Payment5 to defined conth"bub"on rets"rement benefit schemes are tharged as an expense as they fall due. 1.13 Govèrnancè costs These Include the costs attributable to the thanty's comFliance with constitutional and statutory requirements. including audit, strategic management and trustees, meetsngs and reimbursed expenses. 1.14 Government Grants Govemment grants are recognised based on the accrual model and are measured at the fair value of the asset receNed or receivable. Gra￿5 are d8$5rf￿d as relab.ng either to revenue or to assets Grants relating to revenue are recognised in Income over the penod In vthich the related costs are recognised. Grants relats'ng to assets are rec4)gnised over the expeded useftl Irte of the asset. Ith8re part of a grant relating lo an asset is defeffed, rt is recognised as deferred Income. COVENTRY INDEPENDENT ADVICE SERVICE LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 Crltlcal a¢¢ountlng ¢stlmates and Judgements In the applicab'on of the cbarrty's accounkn.ng Oicies. the trustees are required lo make judgements. estimates and assumpb.ons abo￿ the carryry amount of assets and liabilrbes that are not ￿a￿llY apparent from other sources. The estimates and assouated assumptsons are based on historical eXperie￿e and other factors that are considered to be relevant. Actual results may from these estimates. The estimate5 and undertying assumptK)ns are reVieV￿ on an ongoing basis. Revisions lo accounlirig estimates are recognised in the penod in *thich the estymate ss revised where thg revÈsion affects only that period. or in the periTrJ of the ￿¥l￿on and ftrture peri￿J$ whwe the revision affects both eJJrrent and fiJture periods. COVENTRY INDEPENDENT ADVICE SERVICE LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED FOR THE YEAR ENDED 31 MARCH 2023 Donatlons, l•gacl•s and grants Unrestrlct•d Restrlctod funds funds Total UnreslTiCted fundy Reslrleled funds Total 2023 2023 2023 2022 2022 2022 Donations and gifts Grants roceived 14,501 322.287 14.501 362.078 1,205 329,687 1.205 378,647 39,791 48.960 336,788 39,791 376,579 330,892 48,960 379,852 Grants r•ctlvabl• for ¢or• actlvltl•• Coventry City Council The Henry Srnilh Grant Orbit Grant 29th May 1961 Charity National Lollery Community Grant Feeding Britain Government Gran15 and other gramls Olhgf 322,287 322.287 322,287 322,287 21,500 8.285 5.000 9.800 9.375 2,400 21,500 8,285 5.000 9,800 9,375 37,500 37,500 2,400 2.291 2,291 322,287 39,791 362,078 329,687 48,960 378.647 COVENTRY INDEPENDENT ADVICE SERVICE LIMITED NOTES TO THE FINANCIAL STATEMENTS ICONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 Other tradlng a¢tlvltl¢s UnrestrScted Unrestrlcted funds funds 2023 2022 Full recovery cost 37.500 16.197 Inv8Stments Unrestricted Unrestricted funds funds 2023 2022 Interest reeeNable 1,014 1.080 Ralsing funds Unrestricted Unrestricted funds funds 2023 2022 Fundraisin and U￿1C Fundraising agents 7,200 2,561 7.2LX) 2.561 COVENTRY INDEPENDENT ADVICE SERVICE LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 Charltable a¢lfvltl•s Advl¢e SeNlce 2023 Advic Service 2022 Staff costs Depreciation and impaiThnent Recruitment Training and conferences Rent. semce Charge an(J storage fee5 Repairs and mwnlenance Telephone Pnntsng, postage and stskn"onery Sundry expenses Legal and prOfe￿onal fees Volunteer expenses Insurance. subsCript￿nS and licences Computer SO￿are and Maintenance rA)sts 339,773 1.079 1.098 1,375 14,990 43 6.357 5.760 39.848 4,012 925 7,248 9,741 374,420 2.101 705 3.994 14,782 20 5,71fj 4.414 18.021 9.095 2,061 5.638 10,482 432,249 451.449 Sttare of governance ts)sts {see note 81 150 150 432.399 451.599 Analysis by fund Unreslricted funds ReStr￿ted funds 383,322 49.077 376.873 74.726 432.399 451,599 Support costs Support Governan costs 2023Supwrt costs Govemane costs 2022 Independent examiners 150 150 150 150 150 150 150 150 Analysed between Charrtable actNities 150 150 150 150 10- COVENTRY INDEPENDENT ADVICE SERVICE LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 Trustees None of the twslees lor any peisons C￿rbeC￿ed them) received any remunerats'on or benefits from the charity durin9 the year. 10 Employees The average monthtry number of employees during Ihe year was." 2023 Numbei 2022 Numbor Chantable activities Administration 13 11 Total 13 Employment costs 2023 2022 Wages and salaries Social securrty Costs Other pension costs 300,257 23.260 16.256 339,010 17,248 18,162 339.773 374.420 No employee received emoluments of more than £60,000 during the y&ir. The total employee beneffts ofthe key management personnel of the charity were £53.901 (2022 - £56.7331. There were no employees whose annu81 remuneration was more than £60.000. 11 Taxation The charity is a registered thanty and is therefore exempt from taxkn"on. 11 COVENTRY INDEPENDENT ADVICE SERVICE LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 12 Tanglbh fixed assets Office 8qulFThnt Cost At 1 April 2022 13,617 Al 31 March 2023 13.617 Depreclatlon and lrnpalrnwnl At 1 April 2022 Depreaation charged in the year 8,973 1,079 At 31 March 2023 10,052 Carylng amount At 31 March 2023 3,565 At 31 March 2022 13 Debtors 2023 2022 Amounts falling due within one y•ar. Other debtors Prepayments and accnRd Inco￿ 2,291 5.307 7,598 14 Crèdltor5.' amounts falling vAthln one year 2023 2022 Other taXat￿n and social security Trade Cfedrtor$ Other credrtors Accruals and deferred income 5,314 8,428 111 3,066 7.240 2,873 5,094 16.919 15,007 15 RetSrement benefft schemes Definod contrlbutSon $¢heme5 The eharity operates a defined contn"bution pension scheme for all qualtfying employees. The assets of the scheme are heid separately those of the ehaFity in an iThJepeThJentty administered fvnd. The charge lo profft or loss In respeL* of defined contritxjb.on schemes was £16.25612022- £18,162). 12- COVENTRY INDEPENDENT ADVICE SERVICE LIMITED NOTES TO THE FINANCIAL STATEMENTS ICONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 18 Reslrlcted funds The income funds of the charity include r88trided funds comprising the following unexpended balances of donglions and grants held on trust for 8pecific purpo¥e8,' Movèmfrnt In fund8 Incornlng R•tour¢•• r••ourco• •xp•nd•d Plovem•nt In funds Incomlhll Ro8ourc88 B•l•nce at our¢ •xp•nd•d 31 M•r¢h 2023 8alanc• •t 1 Aprll 2021 Transf•r• B¥lanco at 1 Aprll 2022 The Henry Smith Ch8rtty Grant Orbit Grant TNL Community Fund Heart of England Wlnler Well Being Grant Heart of England and Coventry Building Society Grant Feeding Britain TNL Community FLtnd 2 TNL Communlty Fund 3 8,798 9,418 3,157 8,000 6,250 21,500 8,285 130,2981 {18,6181 12,4021 17,2691 16,2501 19,3751 15141 917 17551 17311 9,375 9,800 37,500 137.5001 19.286) 12,291) 9,286 2,291 35,621 48,960 174.7261 15891 9.286 39,791 149,0771 Feeding 8rrt8in- this grant supports advice and support work across thrèè of the soclal supermarkets in the eily. National Lottery Community Fund- this grant supports our Volunteer Programme, including the salary of our Volunteer Manoger and adminislralive support. 13- COVENTRY INDEPENDENT ADVICE SERVICE LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 17 Anatysb of net assots bet￿￿ funds Unrestricted Restricted funds lunds 2023 2023 Total Unrestrl¢ted Restricted funds funds 2022 2022 Total 2023 2022 Fund balances al 31 March 2023 are represented by". Tangible assets Current assets1lliaknl￿.esI 3.585 108,849 3.565 108,849 4.644 132,276 106,500 25,776 112.414 112,414 111.144 25,776 136,920 18 Related party trnnyactlons There were disclosable related party tranSarIKK￿ dwing the year {2022 . none). 14.