SOUTH BRISTOL ADVICE SERVICES LIMITED BY GUARANTEE REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 CONTENTS Pa Management committee's report 2-12 Auditors. report 13-16 Statement of financial attivities 17 Balance sheet 18 Notes to the financial statements 19-29 Reglstered charlty number- 1066392 Company number- 3469233 SOUTH eRISTOI
SOUTH BRISTOL ADVICE SERVICES LIMITED BY GUARANTEE REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 ort of the Mana ement Commlttee for ear ended 31 March 2024 The Management Committee presents its report and financial statements for the year ended 31 March 2024. Due to the Management Committee's 5tatU5 as directors under the Companies Act 2006, and Trustees under the Charities Act 2011, this report constitutes a directors, report as required by the Companies Act 2006 and a trustees, report as required bv the Charities Art 2011 and has been prepared takin8 advantage of the exemptions conferred by Part 15 of thi5 act. The financial statements comply with the Charities Act 2011, the Companies Act 2006, the Memorandum and Articles of Association, and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 (effective l January 20191, and with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFR5 1021. OBJEcfs AND AcfiviTIES The objects of the charity are the promotion of any charitable purposes for the benefit of people living in South Bristol, through the advancement of education, the protection of health, and relief of poverty, sickness. and distress. The charity sought to further these object5 for the year through the provision of information advice and advocacy as summarised below. Our generalist servlce offers informatlon, advlce and advocacy and we have a wide referral network that includes many external agencies, support groups and medical Services. We also have internal referrals to our specialist welfare benefits and debt team. We have the Advice Quality Standard IAQSI for Debt and Welfare Benefits, and we are members of Advice UK. The trustees have had due regard to the Charity Commission guidance on public benefit in deciding what activities we should undertake and confirm that all our activities are undertaken to further our charitable purposes for the public benefit.
SOUTH BRISTOL ADVICE SERVICES LIMITED BY GUARANTEE REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Re ort of the Mana ement Committee for ear ended 31 March 2024 cont. ACHIEVEMENT AND PEFORMANCE South Bristol Advice Services has had another successful year, working on behalf of our service users Iclientsl to ensure that they receive the financial support in line with their entitlement5, Wlth regard to their specific circumstances and in accordance with their circumstances. We have seen many clients that do not usually require our help but due to the continuing cost of living crisis they are being adversely affected. Servlce Provlslon Natlonal Lottery Community Fund COMMUNITY FUND For rnany years we have struggled each year to provide the South Bristol Community with Welfare Benefit Advice and Advocacy. In 2021 we were successful in our bid to the National Lottery Community Fund. This has enabled usto complete the year without the stress of potential loss of hours or redundancy for our team and the loss of service to our community. This award has been successfully uplifted by 25 % to allow for c05t of Living additional costs and to develop and run services that will benefit the communities we work in. Thank You to We remain grateful to Bristol City Council, trusts and foundations and charities for keeping our project work going and allowing 2000 Plus Service Users a year to receive help to maximise their income, help them deal with the cost of living with a disability, help deal with debt, to prevent homelessness and Hunger. The majority of our clients are vulnerable due to disability with 70% of our clients identifying as having a disability or Health issue. Wessex Water Bristol water Quartet Cornmunlty Foundationlchapman Famity Fund /Alfred Hlll Fund Nlsbet Trust Trusthouse Independent Age Advice UK Awards For all
SOUTH BRISTOL ADVICE SERVICES LIMITED BY GUARANTEE REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Re rt of the Mana ement Committee for ear ended 31 March 2024 cont. The following Charts show South Bristol Advice Services performance and achievements in the past year. Please note over 2,0(J) clients have been provided with one-off advice, fact sheet5, the use of a computer or a phone, or the contact details of another organisation. Opened and Closed 2023 24 Open Closed 35. 2% Disability 2023 - 2024 19, 1% ,17% Cognitwe None 439. Mental Health issue Physical Disability Sensory Mental and Physical 25% 37*
SOUTH BRISTOL ADVICE SERVICES LIMITED BY GUARANTEE REPORT ANO FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Re rt of the Mana ement Committee for eaf ended 31 March 2024 cont. Case Opened by Matter 2023 -2024 io DEbt General Housing AttendeD All¢)wance Financial Gains 1st April 2023 to 31st March 2024 £3. 177,610 Bristol Water Schemes Cwers Alk)w• E24,039 Charitable Payment IFod Bonk DRO £89,162 £16.140 295 £8.200 •DHP 738,646 Debt Wrfte Off £34,983 DLA CDLA ESAContrlbutlon Based £679,4 uc FensSon credlt £19,887 £29,117 PIP r2Mew5 back d4tes £907834 £23,S62 SDP £90.189 £108,240 Bankruptty £20,115 £19,888 pip new clwm £96,949 Other 8en ef
SOUTH BR15TOL ADVICE SERVICES LIMITED BYGUARANTEE REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Re rt ol the Mana ement Committee for ear ended 31 March 2024 cont. 3.0% Initial Contact 2023-2024 32. 2% 59, 4% 21, 1% Fa to Fate in rsOn Phone Advice line Answer Machine 9. 17% Referral email Home Visit .32% webslte post Clients by Age 2023-2024 42,3% 3, 19% 17-24 112>34 413. 3&49 5(k64 37% 65
SOUTH BRISTOL ADVICE SERVICES UMITED BY GUARANTEE REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Re ort of the Mana ement Committee for ear ended 31 March 2024 cont. Gender 2023-24 • Male 535 Female Pref nor 10 Say Tr3n5/orher Pro ect Work Our projects are designed to help the most vulnerable clients, the emphasis being on maximising and preventing the loss of income and preventing the escalation of poverty and lor debt due to clients not havin8 the capacity to fully understand their rights as to additional income due to their illness or disability. The current political climate and the portrayal of Welfare Benefit clients in the media has led to many of our clients in particular who have mental issues or who are older, from pursuing claims and appeals. We use our community contacts and our long-term contacts through our local network and referral to seek the most vulnerable and hard to reach members of our community. We have recently seen an upsurge in clients with a disability in that 70 % of our clients are those with a Disability or Long-Term Illness. The Older Peoples Disability and Income Maximisation Projert The project was part funded through Trusthouse who awarded us 3 years of funding for this project. We had no specific Funding for our Mental Health -additional support Welfare Benefit but we were funded for Welfare Benefit via our National Lottery Community Funding.
SOUTH BRISTOL ADVICE SERVICES LIMITED BY GUARANTEE REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Re ort ofthe Mana ement Committee for ar ended 31 March 2024 cont. PLANS FOR THE FUTURE South Bristol Advice Services are working on an Early Help Project. This was started up last year and although funding has not been entirely successful. we are haIaY there to establishing the project. It was delayed by the advent of the cost-of-living crisis which is being dealt with in the same manner. The Project will help c5ients before their 51tuation escalates to crisis level, The form filling day has been partially funded by Quartet, The Alfred Hill Fund and Bristol Wessex Water. We are looking for funders with whom we have hlstory for some 3-year rounds of awards. This would improve the sustainability of the projects. Our projects are created by the need we observe and from evidence through our Data Base. We remain committed to providing Advice and Assistance to the South Bristol Community and are along with the Management Committee to review our Funding strategy in the coming months to take into account the impact of the cost-of-living cri51S.
SOUTH BRISTOL ADVICE SERVICES LIMITED BYGUARANTEE REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Re ort of the Mana ment Commlttee for ear ended 31 March 2024 cont. GENERAL INFORMATION Accountants & Audit015 Burnside Chartered Accountants 61 Queen Square Bristol BSI 4JZ Bankers: Unity Trust Bank 4The Square l Broad Street Birmingham B15 IAR Princlpal Add$$. Withywood Centre Queens Road Withywood Bristol B513 8QA Management Commlttee: Chalr Treasurer Members Michael Manley Christine Marcia Anne-marie Rogers Roger Carver Key Personnel: CEO: Fran Begley FRSA LLB (Honsl Dip RSA Dip Ed Flnance & adrninistration: Supervlsors: Gill Morri5 External -Karen Brown Vacant- Welfare Benefits Claire Weeks NVQ IAG Level 3 Scarlett Blair DRO Intermediary {until October 20231 Karen Mead NVQ IAG Level 3 James Clifford Connie Champion Vicki Dyer NVQ IAG Level 3 luntil March 20241 Claire Elson LLB IHonsl Mia Hooper, Sam Chandrasakera Hayley Massiah, Kirsty House Claire Elson {until November 20231 Caseworkers: Trainee Case workers Debt advice asslstants Volunteers
SOUTH BRISTOL ADVICE SERVICES LIMITED BY GUARANTEE REPORT AND FINANCIALSTATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Re rt of the Mana ement Commlttee for ear ended 31 March 2024 {cont.I STRUCTURE, GOVERNANCE AND MANAGEMENT Governing Document The or8anisation is a charitable company limited by guarantee, incorporated on 20th November 1997. The company was established under a Mernorandum of Association. which established the objects and powers of the charitable company and is governed under its Articles of Association. In the event of the company being wound up members are required to contribute an amount not exceeding £5. Recrultment and Appolntment of Management Commlttee The directors of the company are also charity trustees for the purposes of charity law and under the companls Articles are known as members of the Management Committee. Under the requirements of the Memorandum and Articles of Association, the members of the Management Committee are expected to serve for a period of I year. At the Annual General Meeting all members resign and then may offer themselves {in person or by Proxyl for re election. SBAS periodically advertises in the Evening Post and The Journal for new members. We encourage ex-service users to join the committee. Due to the nature of our work, and potential for conflict of interest, current service users cannot be considered. The management committee is well represented by its members to reflect the community we serve and provides a broad skill mix. A list containing trustee's skills is up dated after each AGM. Training and indurtion Most Trustees are familiar with the work of SBAS but are welcome to attend the office or outreach to experience first-hand the day-to-day work. A set of fact sheets is sent to anv potential member, which sets out and explains the rights and responsibilities of trustees. Trustees are also offered attendance on training courses covering the responsibilities of trustees and role of trustees. 2 current members have attended both courses. Rlsk Management The Trustees actively review the major risks, which the charity faces on a regular basis and believe that maintaining the free reserve5 at the levels stated above will provide sufficient resources in the event of adverse conditions. The trustees have also examined other operational and business risks. which the charity faces and confirm that they have established Systems to mitigate the significant risks. These are detailed below. The office manual contains policie5 and procedures that have been put in place to ensure with health and safety of staff, volunteers, clients, and visitors to the Service. io
SOUTH BRISTOL ADVICE SERVICES LIMITED BY GUARANTEE REPORT AND FINANCIALSTATEMENTS FOR THE YEAR ENDEO 31 MARCH 2024 Re ort of the Mana ement Commlttee for ar ended 31 Maich 2024 (cont.} A current bank statement and a trial balance sheet are produced at Management Committee meeting5 SIX times per year to ensure that sufficient funding is in place for the current year. Organlsational Strurture SBAS ha5 a Management Committee. which comprises of up to 8 member5 who meet monthly. At present the committee has 4 members from a variety of professional backgrounds relevant to the work of the charity. Day-to-day management of the organisation is by the Manager, Fran Begley, under the direction of the Management Committee, and supported by the team. TRAINING SBAS takes training very seriously and all staff have it written in the terms of their contracts, that they have to attend at least 3 training or updating course per year. One of our Debt Advisers are DRO intermediaries, and two are working towards attaining certification. Our Staff and volunteers attended a range of courses on a spectrum of issues in debt and welfare benefits. The training and on the job experience that SBAS offers not only enables more service delivery by local people for local people to enable them to achieve a range of easily transferable skills and qualifications and is fundamental in moving volunteers into paid work. This contributes to the regeneration of the community by increasing the skills and knowledge of individuals allowing them to take a more active role in the community. PUBLIC BENEFIT The Charity Commission in its 'Charities and Public Benefit, Guidance requires that there are two key principles to be met in order to show that an organisation's aims are for the public benefit.. first, there must be an identifiable benefit and secondly, the benefit must be to the public or a section of the public. South Bristol Advice Service aims to benefit the public directly by the provision of free independent, confidential and impartial generalist and specialist advice services to members of the public. Our clients come from wards of South Bristol. li
UTH ORISTOL AOVICE SERVICES LIMITEO BY UARANTEE REPORT AND FINANCIAL STATEMENTS FOR THE YEAR EPIDED 31 MARCH 2024 Re rtofthema ement Commltt for aren March 2024 (Co.) FINAt4CIAL POSITION OF THE CHARITY The charity's rnain funding comes from two sour¢es'. a core Brant from 8ristol Clty Council. and a grant from the Money Advice Service. At 31 March 2024 the charity had net assets 01 £220.309. of whSch £179.657 were unrestri¢ted funds. Movements in restrirted funds are shown in note 10 to the atcounts. RESERVES POUCY The Trustees have Established a policy whereby the unre5tri¢ted lynds not tommittèd or invested in tangible fixed as5et5 1.the free reserves") held by the char5ty should be three months of the total resources expended, which currently equates to approximately £84.OlXI based on the 2024125 budget. At this level, the management committee feel that they would be able to continue the current aclivities of the charlty in the event of 3 significant drop in fundin8. It would obviously be necessary to consSder how the funding would be replaced or a¢tlvitle5 changed. The -free reserves. at 31 Mafch 2024 were £149,057. TRUSTEES. RESPONSIBILITIES The Trustees lMana¥ernet Commlttee members) are rpquired by company law to prepare financial statements, which give a true and fair view of the state of affairs of the Charity at the end of the financial perlod and of the Income and expenditure of the Charity for the period ended un that date. In preparing those fin3n¢ial statements, the Trtsstees are required to= Select suitable accounlin8 policies and apply them consistentlv Make judgements and esiimates that are reasonable and prudent Prepare the financial statements on a going conrn basis unless It Is inappropriate to presume that the Charity will corbtinue in busTrne55 The Trustees are also responsible for keeplng proper accounting record5. which dTsclose with reasonable accuracy at any time the linantial position of the Charity and to enable them to ensure that the financial statements ¢omply with the Companie5 Act 21X)6. They ore alsQ responsible for safeguarding the assets of the Charlty and hence for taking reasonable steps for the prevention and detection of fraud and other irre8vlarlties. Thi5 report has been prepared In accoidance wlth special provisions of Part 15 of the Companies Act 2CK16 relat%ng to small ¢ompanles. BY ORDER OF THE BOARD 0511&12< Manalement Commlttee Memb•rlTNstee Date 12
INDEPENDENT AUDoRs REPORT TO THE MEMBERS OF SOUTH BRISTOL ADVICE SERVICES LIMITED BY GUARANTEE OPINIIJN We have audited the financlal statements of South Bristol Advice Services Ithe "charitable compan) for the year ended 31 March 2024 which comprise the Statement of Financial Activities, the 8alance Sheet, and the lated notes. The financlal reporting framework that has been applied in their paratIOn 15 applicable law and the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021. In our opinion the financial statement5: give a true and fair view of the state of the charitable company'5 affairs a5 at 31 March 2024 and of its incoming resources and application of resources, including its income and expendlture, for the year then ended; have been properly prepad in accordance with the Financial ReK¥)rting Standard applicable in the UK and Republic of Ireland IFRS 1021. and have been prepared in accordance wlth the qU1MentS of the Companies Act 2006. This report is made solely to the company's members, as a body, in accordance with Part 16 of the Companies Art 2006. Our audit work has been undertaken so that we mlght state to the company's member5 those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company'5 members as a body, for our audit work, for thi5 report, or for the opinions we have formed. 8ASIS FOR OPINION We conducted our audit in accordance with International Standards on Auditing IUKI ISSAS IUKII and applicable law. Our responsibilities under those standards are further described in the Auditorfs responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRCS Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. CONCLUSIONS RELATING TO GOING CONCERN We have nothing to report in respect of the following matter5 in which the ISAS IUKI require us to report to you where.. the trustees, use of the going concern basis of accounting in the preparation of the finantial statements is nol appropriate- or the trustees have not distlosed in the financial statements any Identlfled material uncertainties that may cast significant doubt about the charitable company's ability to continue to adopt the going conrn basis of accounting for a period of at least twelve months from the date when the financial statement5 are authori5ed for issue. 13
INDEPENDENT AUDITORS REPORTTO THE MEMBERS OF SOUTH BRISTOL ADVICE SERVICES LIMITED BY GUARANTEE OTHER INFORMATION The other information comprises the information included in the annual report, other than the financial statements and our audttorfs report thereon. The Iru5tees are responsible for the other information. Our opinion on the financial statements does not cover ihe other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwlse appears to be materially misstated. If we identlfy such material incon51Stencie5 or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed. we conclude that there 15 a material misstalement of this other information, we are required to report that fact. We have nothing to report in this regard. OPINIONS ON OTHER mAERs PRESCRIBED BY THE COMPANIES A 2006 In our opinion, based on the work undertaken in the course of the audSt: the information given in the trustees, report, which includes the directors, report prepared for the purposes of company law, for the financial year for which the financial statement5 are prepared is con51Stent with the financial 5tatements,' and the directors, report incllrded within the trustees, report has been prepared in accordance with applicable leEal requirements. MAThERS ON WHICH WE ARE REQUIRED TO REPORT BY EXCEPTION We have nothing to report in respect of the following matters where the Companies Act 2LK)6 requires us to report to you if, in our opinion.. adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us,. or the financial statements are not in agreement with the accountin8 records and returns,. or certain disclosures of trustees, remuneration specified by law are not made,. or we have not received all the information and explanations we require for o*Jr audit.. or the trustees were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies, exemptions in preparing the trustees, directors, report and from the requirement to prepare a strategic report. 14
INDEPENDENT AUDITORS REPORTTO THE MEMBERS OF SOUTH BRISTOL ADVICE SERVICES LIMITED BY GUARANTEE RESPONSIBILMES OF TRusfEES As explained more fulfy in the trustees, spOnSIbl11t1eS statement set out on page 15, the trustees (who are a150 the directors of the charitable company for the purposes of company lawl are responsible for the preparation of the flnancial statements and for being satisfied that they give a true and fair view, and for Such internal control a5 the trustees directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements the trustees are responsible for assessin8 the charitable company's ability to continue as a going concern, disclosing, a5 applicable, rnatter5 related to Eoing concern and using the @oing concern basis of accounting Unless the trustees either intend to liquidate the charitable company orto cease operations, or have no realistit alternative but to do so. AUDITOWS RESPONSIBILITIES FOR THE AVDIT OF THE FINANCIAL STATEMENTS our objectives are to obtain reasonable assurance about whether the financial statements as a whole a free from materlal misstatement, whether due to fraud or error, and to issue an auditorfs report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordan with ISAS IUKI will always detect a material misstatement when it eMi5ts. Misstatements can arise from fraud or error and are considered material if individually or in aggregate, they could reasonably be expected to inflLbence the economic decisions of users taken on the basis of these financial statements. IrregulaTltie5, including fraud, are instances of non-compliance with laws and regulation5. We design procedures in line with our responsibillties, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of deteLtinB irregularities, including fraLbd is detailed below- An understandinB of the legal and regulatory framework applicable to the charitable company was obtained from the management and the trustees of the charrtable company. The audit team was confirmed to have the appropriate competence and capabilities to identify non-compliance with the framework. The audit plan considered the risk of irregularities, including fraud. An element of unpredictability was built into our sample selection for audit tests. The risk of fraud over income wa5 mltigate(I to an acceptable level as all income is grant Income that is paid directly into the charitable compan5 bank account by funders.. we agreed a risk-based sample of grant income to relevant documentation and performed analyti1 procedures on income. The risk of misappropriation of the charitable compan5 asset5 wa5 considered,. the charitable companws bank account balance was tested and confirmed to relevant documentation, and expenditure was tested for validity by substantive tests that included analytical procedures. Accounting estimates were considered as part of our audit work. 15
INDEPENDENT AUDITORS REPORTTO THE MEMBERS OF SOUTH BRISTOL ADVICE SERVICES LIMITED BY GUARANTEE A further description of our responsibilities for Financial Reporting Councll's website at w forms part of our audit report. e audrt of the financial statements is located on the .frc.or auditorsres This description STEPHEN BURNSIDE FCA (Senior Statutory Audltorl For and on behalf of BURNSIDE Chartered k¢ountants & ststutory Auditor 61 Queen Square Bristol BSI 4JZ Date: 41,,1 16
SOUTH BRISTOL ADVICE SERVICE5 LIMITED BY GUARANTEE STATEMENT OF FINANCIAL AcfiviTIES FOR THE YEAR ENDED 31 MARCH 2024 Unrestricted Fund5 Restricted Totsl funds Funds 2024 Total f unds 2023 Note INCOME FROM.. Grants and donations 220,280 187,131 407,411 314,198 TOTAL INCOME 220.280 187,131 407,411 314.198 EXPENDITURE ON: Raising funds.. Costs of applying for grants and donations Charitable activitie5'. Advice and information 14,724 14.724 13,325 168,888 138,891 307,779 253,466 TOTAL EXPENDITURE 183,612 138,891 322,503 266,791 Net income/ lexpenditurel 36,668 48,240 84,908 47,407 Transfers between funds io 11,555 111,5551 Net movernent in funds 48,223 36.685 84,908 47.407 Reconciliation of funds.. Total funds brought forward 131,434 3,967 135,401 87.994 Total funds carried forward 179,657 40,652 220,309 135.401 The statement of f inancial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing artivities. The notes on pages 19 to 29 form part of these accounts. 17
SOUTH BRISTOI ADVI SERV CE IIMITE ARANTE 8ALANCE SHEET AT 31 MARCH 2024 2024 20 Notes FIXED ASSETS Tangible assets 16,534 4,075 CURRENT ASSETS Debtor5 Cash at bank and in hand 1.758 244,833 9.308 180,269 246,591 189,577 CREDITORS.. Amounts fallSng due withln one year 142,8161 158,2511 NET CURRENT ASSETS 203,775 131,326 TOTAL ASSETS 220.309 135.401 THE FUNDSOF THE CHARITY.. Restricted Unrestrlrted.. General Designated io 40.652 3.967 li li 165,591 14,066 114,434 17,000 TOTAL CHARITY FUNDS 12 220,309 135,401 The accounts have been prepared in accordance with the special provision5 of Part 15 of the Companie5 Act 2006 relatin8 to small companie5. Approved by the Trustees on and 518ned on their behalf by CHRISTINE MARCIA TRUSTEE ITREASURERI Date Company number.. 03469233 The notes on pages 19 to 29 form part of these accounts. 18
SOUTH BRISTOL ADVICE SERVICES LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 I.ACCOUNTING POLICIES lal Accounting Convention The financial statements have been prepared in accordance with Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 leffective l January 20191- (Charities 50RP IFRS 10211, the Financial Reporting standard applicable in the UK and Republic of Ireland IFRS 1021 and the Companies Act 2CKI6. Ib} Going eoncern At 31 March 2024, the charity had total funds of £220,30912023 - £135,401). Restricted funds amounted to £40,652 12023 - £3,967). The free reserves of the charity, being unrestricted general reserves less designated funds less fixed assets held in general reserves, totalled £149,057. The target for free reserves is to hold 3 months of total expenditure, which currently equate5 to around £84,0(KJ. The charity has prepared a budget and cashflow forecast for the year ended 31 March 2025 which shows that the charity has forecast a small Surplus for the year of around £20,000. This initial budget does not include funding applications that are pending decision. The management committee therefore have a reasonable expectation that the charitv will be in operation 12 months from the date of approval of these accounts and that the charity remains a going concern. The accounts have therefore been prepared on a going concern basis. Icl Income Donations and grants Income from donations and grants, including capital grants. is included in incoming resources when these are receivable, except as follows: When donors specify that donations and grants given to the charity must be used in future accounting periods. the income 15 deferred until those periods When donors irnpose conditions, which must be fulfilled before the charity becomes entitled to use such income, the income is deferred and not included in incoming resources until the pre-conditions for use have been met. 19
SOUTH BRISTOL ADVICE SERVICES LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Icontinuedl I.ACCOUNTING POLICIES {continuedl Icl Income (continued) When donors specify that donations and grants, including capital grants, are for restricted purposes. which do not amovnt to pre-conditions regarding entitlement, this income is included in incoming resources of restricted funds when receivable. Interest receivable Interest is included when receivable by the charity. Id} Expendlture Expenditure is included in the Statement of Financial Activitie5 on an accruals basis, inclusive of any VAT, which cannot be recovered. Most expenditure is directly attributable to a specific activity and is allocated to that activity. However, the costs of the managerfs salary have been allocated as follows based on the time she spends on each activity.. Fundraising Advice and information 33% 67% It is believed by the trustees that the charities, only support costs are shown in governance costs in note 3. There are no further support Costs as all costs can be directly attributable to providing the charities specialist debt and welfare advice. lel Operating leases Rentals payable under operatlng leases are charged to the Statement of Flnancial Activities incurred over the term of the lease. In Tanglble fixed assets The cost of tangible fixed a55ets is written-off by equal annual in5talments over their expected useful lives as follows: Leasehold improvements Furniture, fixtures and equipment 10 years 4 years Igl Debtors Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayment5 are valued at the amount prepaid net of any trade discounts due. 20
SOUTH BRISTOL ADVICE SERVICES LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Icontinuedl Ihl Creditors and provislons Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due. Funds accounting Fund5 held by the charity are.. Unrestricted general funds- these are funds, which can be used in accordance with the charitable objects at the discretion of the trustees. Restricted funds these are funds that can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. Further explanation of the nature and purpose of each fund is included in the notes to the accounts. til Pension costs The company operates a defined contribution pension scheme for employees. The assets of the scheme are held separately from those of the company. The annual contributions payable are charged to the profit and loss account. 21
SOUTH BRISTOL ADVICE SERVICES LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Icontinuedl COMPARATIVE YEAR STATEMENT OF FINANCIAL ACTIVITIES Unrestricted Fund5 Restricted Total funds Funds 2023 INCOME FROM: Grants and donations 217,709 96,489 314,198 TOTAL INCOME 217,709 96,489 314,198 EXPENDITURE ON: Raising funds.. Costs of applying for grants And donations Charitable activities: Advice and information 13,325 13,325 161,550 91,916 253.466 TOTAL EXPENDITURE 174,875 91,916 266,791 Net income/ lexpenditurel 42,834 4,573 47,407 Transfers between funds 606 16061 Net movement in funds 43,440 3,967 47.407 Reconciliation of funds: Total funds brought forward 87,994 87,994 Total funds carried forward 131,434 3,967 135,401 22
SOUTH BRISTOL ADVICE SERVICES LIMITED BYGUARANTEE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Icontlnuedl GRANTS AND DONATIONS RECEIVABLE During the year, the following grants and donations have been received from the following organisations.. Unrestricted Funds Restricted Funds Total 2024 Total 2023 Bristol City Council Partnership Fund Bristol City Council - Cost of Living Fund Money and Pensions Service National Lottery Community Fund Trusthouse Charitable Foundation Wessex Bristol Water European Union Settlement Scheme Quartet Foundation Alfred Hill Fund The Nisbett Trust Advice UK Independent Age Cost of Living Fund Citizens Advice Household Support Fund Computers and Modernisation Fund Other grants and donations 35,857 35,857 35,857 8,483 147,324 152,638 85,726 64,021 4,664 12,402 39,990 10,593 1,106 8,350 7.500 12.000 2,0(M) 147,324 85.726 4,664 18,540 1,106 21,450 12,(M)O 12,( 26,000 19,660 10,000 22,435 2,649 25,000 19,660 10,000 22.435 2,649 354 220,280 187,131 407,411 314.198 TOTAL EXPENDbTURE Other Direct ost Staff Costs Total 2024 Total 2023 Costs of applying for grants and donations Advice and information 14.724 232,705 14,724 13,325 75,074 307,779 253,466 247,429 75,074 322,503 266.791 23
SOUTH BRISTOL ADVICE SERVICES LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 fvIARCH 2024 Icontinuedl TOTAL EXPENDITURE Icontinuedl OTHER DIRECT COSTS Total 2024 Total 2023 Grants paid Information and resources Professional fees Office costs Staff and volunteers, training and expenses Depreciation Rent and premises costs Audit and accountancy fees 500 7,077 2,436 14,443 3.048 3,107 17.901 10,083 9,362 3,972 29,321 2,914 2,234 18,937 8.334 75,074 58,595 NET INCOME FOR THE YEAR 2024 2023 This is stated after charging: Depreciation of owned assets Auditors, remuneration Audit Non audit 2,234 3,107 5,8(K) 2,534 5,500 4,583 24
SOUTH BRISTOL ADVICE SERVICES LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Icontinuedl STAFF COSTS AND TRUSTEES, REMUNERATION Staff cost5 were as follows.. 2024 2023 Wage5 and salarie5 Employer's National Insurance Pension costs 227,318 190,254 12,248 10,993 7,863 6,949 247.429 208,196 No employee earned £60,000 p.a. or more. The average number of employees during the year wa5 912023 - 91. No remuneration was paid to the Trustees. No expenses were reimbursed to Trustees. The centre manager total emoluments, including employerfs pension contribution. in the year were £40,19612023- £36,482). There are no related party transaction5 to report in the period. TANGIBLE ASSETS Fixtures, Fittings and ui Leasehold rovements Total COST At l April 2023 Additions 4,200 10,800 44,432 3,893 48,632 14,693 At 31 March 2024 15,000 48,325 63,325 DEPRECIATION At l April 2023 Charge for the year 1,680 690 42,877 1,544 44,557 2,234 At 31 March 2024 2,370 44,421 46,791 NET BOOK VALUE At 31 March 2024 12,630 3,904 16.534 At 31 March 2023 2,520 1.555 4.075 25
SOUTH BRISTOL ADVICE SERVICES LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Icontinuedl DEBTORS 2024 2023 Other debtors Fees and grants receivable 1,758 3,537 5,771 1,758 9,308 CREDITORS 2024 2023 Amounts falling due within one year.. Trade creditors Taxation and social securlty Accruals Other creditors Deferred income 1,316 8,325 7.21x1 250 25,725 4,504 3,878 6,540 250 43,079 42,816 58,251 26
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SOUTH BRISTOL ADVICE SERVICES LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Icontinuedl 10. RESTRICTED FUNDS Icontinuedl Restricted funds of £40,652 at the year-end are made up of cash. Com uter5 and Modernisation Fund Grant to provide funds for new computers and modernisation of the charit(s offices. Welfare adviser This grant from The National Lottery Cornmunities Fund is to fund welfare advice. Over 55 advice Grants to provide advice to over 55$ that suffer disabilities or mental illness. Euro ean Union Settlement Scheme Funding to help EU citizens to obtain the right of residency in the EU after BREXIT. Cost of Livin fund Grant from Bristol City Council to fund salary costs of advisor to provide advice on issues arising from the Cost-of-Living crisis. DRO fund Grant to cover administration costs of making DRO applications. Financial ca abilit fund Grant from Wessex Water to fund income maximi5ation sessions, mainly around benefits. Inde endent A Grant from Independent Age towards the older peoples assisted income maximisation, disability, benefits and debt project. Household Su ort Grant from Citizens Advice Bristol to fund household Support sessions and coffee mornings for communities across Bristol who are acutely affected by the cost-of-living crisis. 11. UNRESTRicfED FUNDS Total IT Unrestricted Fund Funds General Fundraising Fund Fund Training Fund Balance blfwd 114,434 iO,(KJ) 3,000 4,000 131,434 Income 220,280 220,280 Expenditure 1170,6781 (lo,) 12471 12,6871 1183,6121 Transfers 1.555 io.ThJo 11,555 Balance clfwd 165,591 10,000 2,753 1,313 179,657 The Fundraising designated fund was allocated to fund part of the cost of applying for grants in 2023124. The fund was expended in the year. 28
SOUTH BRISTOL ADVICE SERVICES LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Icontinuedl 11. UNRESTRicfED FUNDS Icontinuedl The training fund is allocated for training for new staff that are planned to be engaged in 2024125. The IT Fund is allocated for new equipment for the planned new staff. 12. ANALYSIS OF NET ASSETS BETWEEN FUNDS At 31 March 2024 net assets were held in the following funds. Restricted Designated Funds Funds General Funds Total Funds Fixed assets 16,534 16.534 Net current assets 40,652 14.066 149,057 203,775 Net assets 40,652 14,066 165.591 220,309 29