2023-03-31-accounts

	Page
Trustees report	1-14	'
Independent auditor’s report	15-18
		I
Statement of financial activities	19-20
Balance sheet	21
Statement ofcash flows	22
Notes to the financial statements	23-36

Working Name	Money Advice Plus
Trustees (who are also	Nikky Myers	Chair
directors)	Tracie Church	Vice Chair
	Jonathan Hyman	Treasurer
	Gemma Dunn
	Nick Gray
	Ric Stewart
	Bryan Coverdale
	Asif Chaudhery	Resigned 17 November 2022
	Philip Hall	Resigned 3 August 2022
Chief Executive	Karen Perrier
Company Secretary	Jackie Grigg
Register Office	Tisbury Road Offices, Hove Town Hall, Tisbury Road, Hove, BN3 3BQ
Operational Addresses	Tisbury Road Offices, Hove Town Hall, Tisbury Road, Hove, BN3 3BQ
	2nd Floor, 182 - 184 Terminus Road, Eastbourne, BN21 3BB
Website	http://www.moneyadviceplus.org.uk
Email	[e-mail]
Bankers	Barclays Bank Plc, North Street, Brighton, East Sussex, BN1 1SF
Independent Auditor	Plummer Parsons, 18 Hyde Gardens, Eastbourne, BN21 4PT
Health and Safety	John Rodway, Corporate and Public Safety Ltd
Competent Person
Insurers:	• Aviva Insurance Ltd. insure for contents, public liability, and employer's liability;
	• VCS Insurance Company Limited (Guernsey) insure for Professional indemnity.
FCA reference	618927

Current financial year
		**Unrestricted **	Unrestricted	Restricted	Total	Total
		funds	funds	funds
		general	designated
		2023	2023	2023	2023	2022
	Notes	£	£	£	£	£
Income from:
Donations and legacies	3	4,661	-	-	4,661	5,914
Charitable activities
Money Management	4	631,861	-	-	631,861	657,266
Money Advice	4	495,329	-	474,480	969,809	732,530
Investments	5	619	-	-	619	1,430
Total income		1,132,470	-	474,480	1,606,950	1,397,140
Expenditure on:
Charitable activities
Money Management	6	757,025	-	-	757,025	676,547
Money Advice	6	360,281	-	482,160	842,441	721,469
Total charitable expenditure		1,117,306	-	482,160	1,599,466	1,398,016
Net gains/(losses) on investments	10	(2,126)	-	-	(2,126)	7,273
Net incoming/(outgoing) resources
before transfers		13,038	-	(7,680)	5,358	6,397
Gross transfers between funds		(7,680)	-	7,680	-	-
Net movement in funds		5,358	-	-	5,358	6,397
Fund balances at 1 April 2022		102,564	359,150	-	461,714	455,317
Fund balances at 31 March 2023		107,922	359,150	-	467,072	461,714

Prior financial year
		**Unrestricted **	Unrestricted	Restricted	Total
			funds funds	funds
		**general **	designated
		2022	2022	2022	2022
	Notes	£	£	£	£
Income from:
Donations and legacies	3	5,914	-	-	5,914
Charitable activities
Money Management	4	657,266	-	-	657,266
Money Advice	4	427,932		304,598	732,530
Investments	5	1,430	-	-	1,430
Total income		1,092,542	-	304,598	1,397,140
Expenditure on:
Charitable activities
Money Management	6	676,547		-	676,547
Money Advice	6	400,431	-	321,038	721,469
Total charitable expenditure		1,076,978	-	321,038	1,398,016
Net gains/(losses) on investments	10	7,273	-	-	7,273
Net incoming/(outgoing) resources before
transfers		22,837	-	(16,440)	6,397
Gross transfers between funds		(12,912)	-	12,912	-
Net movement in funds		9,925	-	(3,528)	6,397
Fund balances at 1 April 2021		92,639	359,150	3,528	455,317
Fund balances at 31 March 2022		102,564	359,150	-	461,714

		2023		2022
	Notes	£	£	£	£
Fixed assets
Tangible assets	12				630
Investments	13		64,414		66,540
			64,414		67,170
Current assets
Debtors	15	108,863		148,194
Cash at bank and in hand		489,025		479,844
		597,888		628,038
Creditors: amounts falling due within
one year	16	(195,230)		(233,494)
Net current assets			402,658		394,544
Total assets less current liabilities			467,072		461,714
Income funds
Unrestricted funds
Designated funds	20	359,150		359,150
General unrestricted funds		107,922		102,564
			467,072		461,714
			467,072		461,714

		2023		2022
	Notes	£	£	£	£
Cash flows from operating activities
Cash generated from operations	24		8,562		140,205
Investing activities
Purchase of investments				(12)
Investment income received		619		1,430
Net cash generated from investing
activities			619		1,418
Net cash used in financing activities			-		-
Net increase in cash and cash equivalents			9,181		141,623
Cash and cash equivalents at beginning of year			479,844		338,221
Cash and cash equivalents at end of year			489,025		479,844

	**Unrestricted **	Unrestricted
		funds funds
	general	general
	2023	2022
	£	£
Donations and gifts	4,661	5,914

	Money Money Advice	Money Money Advice	Total	Total
	Management		2023	2022
	£	£	£	£
Money Management income	631,861		631,861	657,266
Money Advice income		969,809	969,809	732,530
	631,861	969,809	1,601,670	1,389,796
Analysis by fund
Unrestricted funds - general	631,861	495,329	1,127,190
Restricted funds	-	474,480	474,480
	631,861	969,809	1,601,670
For the year ended 31 March 2022
Unrestricted funds - general	657,266	427,932		1,085,198
Restricted funds	-	304,598		304,598
	657,266 '	732,530		1,389,796
Grant income
Brighton Supporting People (BHCC)	600,000	-	600,000	625,721
Individual contracts (BHCC & E & WSCC)	21,208	■	21,208	24,031
Money Guardians (BHCC)	3,391	-	3,391	7,514
Brent Social Work Team	2,340	-	2,340	-
Advice to Council Tenants (BHCC)	-	79,992	79,992	80,000
Moneyworks (BHCC)	-	55,270	55,270	53,898
MASDAP (MAS)	■	2,326	2,326	81,766
Money Advice for Wellbeing (CCG)	-	52,016	52,016	50,974
Housing Associations	-	140,406	140,406	103,353
PA Housing (previously Paragon Housing)	-	37,500	37,500	48,750
Warmth for Well Being	-	111,000	111,000	55,812
MacMillan	■	24,704	24,704	24,165
Advice Matters (BHCC)	-	35,520	35,520	33,233
Financial Support Line (formally DEAP)	-	324,599	324,599	143,528
We Are Digital (L&Q)	-	34,889	34,889	52,122
Lift Up Fund	-	70,834	70,834	4,166
Other	4,922	753	5,675	763
	631,861	969,809	1,601,670	1,389,796

	**1Jnrestricted **	Unrestricted
	funds	funds
	general	general
	2023	2022
	£	£
Income from listed investments	41	12
Interest receivable	578	1,418
	619	1,430

	Money	Money	Total	Money	Money	Total
	Management	Advice	2023	Management	Advice	2022
	2023	2023		2022	2022
	£	£	£	£	£	£
Staff costs	661,619	736,637	1,398,256	602,208	648,226	1,250,434
Depreciation and
impairment	630	-	630	624		624
Property Costs	24,694	24,222	48,916	22,662	23,512	46,174
Office Overheads	38,416	49,041	87,457	37,048	34,484	71,532
Client support costs	11,665	-	11,665	-	-	-
	737,024	809,900	1,546,924	662,542	706,222	1,368,764
Share of support costs
(see note 7)	5,217	10,857	16,074	3,141	8,589	11,730
Share of governance
costs (see note 7)	14,784	21,684	36,468	10,864	6,658	17,522
	757,025	842,441	1,599,466	676,547	721,469	1,398,016
Analysis by fund
Unrestricted funds -
general	757,025	360,281	1,117,306	676,547	400,431	1,076,978
Restricted funds	-	482,160	482,160	-	321,038	321,038
	757,025	842,441	1,599,466	676,547	721,469	1,398,016

	Support	Governance	2023	Support	Governance	2022
	costs	costs		costs	costs
	£	£	£	£	£	£
Other finance costs	5,264		5,264	1,265		1,265
Translation costs	5,566	-	5,566	6,776	-	6,776
Other insurance	3,687		3,687	3,631	■	3,631
Training	656	-	656	-	-	-
Sundry	901	-	901	58	-	58
Audit fees		9,468	9,468		8,934	8,934
Accountancy	■	2,911	2,911	-	3,066	3,066
Legal and professional	-	20,673	20,673	-	4,189	4,189
Trustees training &
expenses	-	360	360	-	-	-
Professional indemnity
insurance	-	1,466	1,466	-	1,333	1,333
Annual report	-	1,590	1,590	-	-	-
	16,074	36,468	52,542	11,730	17,522	29,252
Analysed between
Charitable activities	16,074	36,468	52,542	11,730	17,522	29,252

	2023	2022
	Number	Number
	47	46
Employment costs	2023	2022
	£	£
Wages and salaries	1,245,399	1,117,038
Social security costs	103,351	85,610
Other pension costs	49,506	47,786
	1,398,256	1,250,434

	**Unrestricted **	Unrestricted
		funds funds
	general	general
	2023	2022
	£	£
Revaluation of investments	(2,126)	7,273

	Equipment
	£
Cost
At 1 April 2022	25,487
At 31 March 2023	25,487
Depreciation and impairment
At 1 April 2022	24,857
Depreciation charged in the year	630
At 31 March 2023	25,487
Carrying amount
At 31 March 2023
At 31 March 2022	630

			Listed
			investments
			£
	Cost or valuation
	At 1 April 2022		66,540
	Valuation changes		(2,126)
	At 31 March 2023		64,414
	Carrying amount
	At 31 March 2023		64,414
	At 31 March 2022		66,540
14	Financial instruments
		2023	2022
		£	£
	Carrying amount of financial assets
	Debt instruments measured at amortised cost	92,042	70,995
	Carrying amount of financial liabilities
	Measured at amortised cost	171,484	200,054
15	Debtors
		2023	2022
	Amounts falling due within one year:	£	£
	Trade debtors	91,989	70,845
	Other debtors	53	150
	Prepayments and accrued income	16,821	77,199
		108,863	148,194

Creditors: amountsfalling due within one year
	2023	2022
	£	£
Other taxation and social security	23,746	33,440
Trade creditors	8,260	4,629
Other creditors	19,574	111,299
Accruals and deferred income	143,650	84,126
	195,230	233,494

Client accounts
	2023	2022
	£	£
Barclays Bank	2,356,000	2,084,039
Scottish Widows	75,000	75,000
Cash in hand	1,000	1,000
Other (including cash in transit)	44,615	60,577
	2,476,615	2,220,616

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		Movement		Movement
		in funds		in funds
	Balance at	Incoming	Balance at	**Incoming **	Balance at
	1 April 2021	resources	1 April 2022	resources 31 March 2023
	£	£	£	£	£
Closure costs	335,000		335,000		335,000
Client benefit fund	7,773	•	7,773		7,773
Development fund	16,377	-	16,377		16,377
	359,150	-	359,150		359,150

	2023	2022
	£	£
Within one year	42,000	42,000
Between two and five years	58,167	100,167
	100,167	142,167

**24 **	Cash generated from operations	2023	2022
		£	£
	Surplus for the year	5,358	6,397
	Adjustments for:
	Investment income recognised in statement of financial activities	(619)	(1,430)
	Fair value gains and losses on investments	2,126	(7,273)
	Depreciation and impairment of tangible fixed assets	630	624
	Movements in working capital:
	Decrease in debtors	39,331	197
	(Decrease)/increase in creditors	(38,264)	141,690
	Cash generated from operations	8,562	140,205
**25 **	Analysis of changes in net funds
	The charity had no debt during the year.