# # ## ||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|info@moneyadviceolus.org.uk|| |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| ## ## |O|—|| |---|---|---| ||$|| ||o_0)_|| |(|C|| |o0|.9 t
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o| ## |||**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.|||