SOUTH BAISTOL ADVICE SERVICES LIMITED BY G ARANTEE REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDE IMA CH 2024 CONTENTS Pa Management committee's report 2-12 Audltors, report 13-16 Statement of flnanclal activlties 17 Balance sheet 18 Notes to the flnanclal statements 19-29 Reglstered charlty number - 1066392 Company number- 3469233 SOLifH JR15TOI D'aicl S£kviC£S
SOUTH BRISTOL ADVICE SERVICES LIMITEO 8Y GUARANTEE REPORT AND FINANaAL 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 Mana8ement Committee's status as directors under the Companles Act 2006, and Trustees under the Charitles Act 2011, thls report constitutes a directors, report as required by the Companies Act 2006 and a tru5tees' report as required by the CharitSes Act 2011 and has been prepared taklng advantage of the exemptlons conferred by Part IS of this act. The financial statements comply wlth the Charitles Act 2011, the Companies Act 2006, the Memorandum and Articles of Association, and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charitles preparin8 their accounts in accordance with the Financial Reporting Standard appllcable in the UK and Republic of Ireland (FRS 102) leffectlve l January 2019>, and with the Financial Reporting Standard applicable in the UK and Republlc of Ireland IFRS 102). OBJECTS AND AcfiviTIES The objects of the charlty are the promotlon of any charltable purposes for the beneflt of people livin8 in South Bristol, throu8h the advancement of educatlon, the protection of health, and rellef of poverty, sickness, and distress. The charity sought to further these objects for the year through the provision of information advice and advocacy a5 5umrnarised below. Our 8enerallst service offers information, advice and advocacy and we have a wlde 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 {AQSJ for Debt and Welfare Benefits, and we are members of Advice UK. The trustees have had due regard to the Charity Comrnission 8uidance on public beneflt In decidin8 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 DED Re ana ement Comml eef ar nde l Mar¢ 2024 cont. ACHIEVEMENT AND PEFORMANCE South Bristol Advice Services has had another successful year, workln8 on behalf of our servlce users {cllentsl to ensure that they recelve the financial support In Ilne wlth thelr entitlements, with regard to thelr specific circumstances and In accordance with thelr clrcumstances. We have seen many client5 that do not usually require our help but due to the contlnuln8 C05t of Ilvlng crlsls they are beln8 adversely affected. Servlce Provlslon Natlonal Lottery Communlty Fund COMMUNITY FUND For many years we have struggled each year to provlde the Sotsth Brlstol Communlty wlth Welfare Benefit Advlce and Advocacy. In 2021 we were successful In our bid to the Natlonal Lottery Communlty Fund. Thls has enabled us to complete the year wSthout the stress of potentlal loss of hours or redundancy for our team and the10s5 of service to our community. This award has been suttessfully upllfted by 25 % to allow for cost of Llvlng additlonal costs and to develop and run servlces that wlll beneflt the communities we work In. hank We rernaSn grateful to Brlrtol Clty Coun¢ll. trusts and loundatlons and charltles for keeplng our project work golng and allowlng 2000 Plus 5ervlce User5 a year to recelve help to maxlmlse their Income, help them deal with the cost of living wlth a dlsablllty, help deal wlth debt, to prevent homelessness and Hunger. The majority of our cllents are vulnerable due to disability with 70% of our clients identlfying a5 havin8 a disability or Health issue. Wessex Water Brlstol water Quartet Communlty Foundatlon/Chapman Famlly Fund IAlfred Hlll Fund Nlsbet Trust Trusthouse Independent Age Advlce UK Awards For all
SOUTH BRISTOL ADVICE SERVICES LIMITED BY GUARANTEE REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 ofhemna emen Com eare March 2 24 con The following Charts show South Bristol Advice Servlces performance and achlevements In the past year. Please note over 2,000 clients have been provlded with one-off advlce, fact sheets, the use of a computer or a phone, or the contact detalls of another cr8anlsatlon, Opened and Closed 2023 24 • Open Closed 35. 2% Dlsablllty 2023 - 2024 19, 1% • Coqnile 11 None Mental Health issue Physical Dlsablllty • Sensory Mental and Physical
SOUTH BRISTOL ADVICE SERVICES LIMITED BY GUARANTEE REPORT ANO FINANCIAL STATEMENTS FORT E YEAR EhtDE0 31 MARCH 2024 Re th Mana emen Comml efor ear end l M rch 2024 cont. Case Opened by Matter 2023-2024 io Debi • wo eer*fit5 • G•n•ral . Hous1 AtteTrden AIIN•nce Flnanclal Galns 1st Aprll 2023 to 31st March 2024 £3. 177,610 Brfitol Water5chern•s • Cwers Alklwance £24,039 Chadtable P•ymert IFod Bank •DRO £89,162 £16,140 £8,200 1 omp 738,646 Debi wrft¢ ¢yI £34,983 DLACDL4 ÉSAContnblQTr Based •uc pension credlt £19,887 £29.117 PIP le¢w$ back date5 £23,562 SDP £9Q.189 E108,240 8arthruplcv £20.115 £19,888 plp new dalm £96,949 Other Ber) ef
SOUTH BRIS LAD ICE SERVIC LIMITE BY GUARANTEE REPORT AND FINANCIAL STATEMENTS FOR THE EAR ENDED 31 RCH 2024 rt of the Mana men Comrnltt e for ear ended 31 March 2024 conL Inltial Contact 2023-2024 32. 2% 59, 4% 21, 1% • Face to Face In person • Phone Advlc¢ Ilne Answer Machlne • Aeferral • emall • Home Vlslt • website post Clients by Age 2023 -2024 42, 3% 17.24 • 2>34 113>49 • 5&64 •69
SOUTH BRISTOL ADVICE SERVICES LIMITEO BY GUARANTEE REPORT AND FINANCIAL STATEMENTS OR THE YEAR ENDED IMAR of the Mana ment C mmlttee for ear nd d 31 March 2 24 on Gender 2023-24 Fenial• Pr•fnor w sav Tr1D51h¢r ect Work Our projects are desl8ned to help the most vulnerable cllents, the emphasis beln8 on maximlslng and preventln8 the loss ot Income and preventln8 the escalatlon of poverty and lor debt due to clients not havln8 the capaclty to fully understand thelr rlghts as to addltlonal Income due to their illness or disabllitv, The current politlcal ¢llmate and the portrayal of Welfare Benefit clients In the media has led to many of our cllents In partlcular who have mental Issues or who are older, from pursulng clalms and appeals. We use our community contacts and our long-term contacts through our local network and referral to seek the rnost vulnerable and hard to reach members of our communlty. We have recently seen an upsurge In clients wlth a dlsablllty In that 70 % of our cllents are those wlth a Dlsablllty or Lon8-Tem) Illness. The Older Peoples DlsabllSty and Income Maxlmlsatlon Project The project was part funded through Trusthouse who awarded us 3 year5 of funding for thi5 project, We had no Specific Funding for our Mental Health -additional sUPPOrt Welfare Benefit but we were funded for Welfare Benefit via our Natlonal Lottery Community Fundlng.
SOUTH 8RISTOL ADVICE SERVICES LIMITED 8Y GUARANTEE REPORT ANO FINANCIAL STATEMENTS FOR THE YEAR ENOED 31 MARCH 2024 rt of the Mana ement Commlttee for ear ended 3 March 20 nt. PLAN5 FOR THE FUTURE South Bristol Advice senlce5 are working on an Early Help Project. This was started up last year and althou8h funding has not been entirely successful, we are halfway there to establishlng the project. It was delayed by the advent of the cost-of-llving crisis whlch Is being dealt with in the same manner. The Project will help cllents before their situation escalates to crlsis level, The form flllln8 day has been partially funded by Quartet, The Alfred Hlll Fund and Bristol Wessex Water. We are looking for funders wlth whom we have history 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 evldence through our Data Base. We remaln commltted to providlng Advlce and Assistance to the South Brlstol Community and are along with the Management Committee to review our Fundin8 Strategy In the coming months to take Into account the impact of the cost-of-living crisls.
SOUTH BRISTOL ADVICE SERVICE5 LIMITED BY GUARANTEE REPORT AND FINANCIAL STATEMENTS THE YEAR ENDED IMAR H 2024 Re ort of the Mana rnent Cornmlttee for ear ended 31 March 2024 cont. GENERAL INFORMATION Accountants & Audltors Burnside Chartered Accountants 61 Queen Square Bristol esi 4JZ Bankers: Unlty Trust Bank 4 The Square l Broad Street Birmlngham B15 IAR Prlnclpal Address: Withywood Centre Queens Road Withywood Bristol BS13 8QA Management Commlttee: Chalr Treasurer Members Michael Manlev Christlne Marcia Anne-marie Rogers Roger Carver Key Personnel: CEO., Fran Begley FRSA LLB {Hons) Dip RSA Dip Ed Flnance & admlnlstration: Supervlsors: Gill Morris External -Karen Brown Vacant- Welfare Benefits Claire Weeks NVQ IAG Level 3 Scarlett Blair DRO Interrnediary (until October 20231 Karen Mead NVQ IAG Level 3 James Clifford Connie Champion Vicki Dyer NVQ IAG Level 3 (until March 2024) Claire Elson LLB (Hons) Mia Hooper, 5am Chandrasakera Hayley Massiah, Kirsty House Claire E150n (until November 20231 Caseworkers: Trainee Case workers Debt advlce asslstants Volunteers
SOUTH BRISTOL ADVICE SERVICES LIMITED BY GUARANTEE REPORT ANO FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Re ort of the Mana ement Commlttee for ear ended 31 March 2024 (cont.) 5fRUCTURE, GOVERNANCE AND MANAGEMENT Governin8 Document The organisation Is a charltable company limited by guarantee, Incorporated on 20th November 1997. The company was established under a Memorandum 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 bein8 wound up members are required to contrlbute an amount not exceeding £5. Recrultment and Appolntment of Management Commlttee The dlrectors of the company afe also charlty trustees for the purposes of charity law and under the companls Artlcles are known as members of the Management Commlttee, Under the requirements of the Memorandum and Articles of A550ciation, the members of the Management Committee are expected to sefve for a period of l year. At the Annual General Meetlng 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 user5 to join the committee. Due to the nature of our work, and potential for conflict of interest, current servlce users cannot be consldered. The management committee is well represented by it5 members to reflect the communlty we serve and provide5 a broad skill mix. A list contalnlng trustee's skills Is up dated after each AGM. Tralnlng 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 any potential member, which sets out and explains the right5 and responsibilities of trustee5. Trustees are also offered attendance on training courses covering the responsibilities of trustee5 and role of tiustee5. 2 current members have attended both courses. Rlsk Management The Trustee5 actively review the major risks, which the charity faces on a regular basis and believe that maintaining the free reserves at the levels stated above will provide sufflclent resources in the event of adverse conditions. The trustees have also examined other operational and busine55 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 policies and procedures that have been put sn 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 FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Re ort of the Mana ernent Comrnlttee for ear ended 31 March 2024 (cont.1 A current bank statement and a trial balance sheet are produced at Management Committee meetin8S Six times per year to ensure that suff icient funding is in place for the current year. Or8anl$atlonal Strurture SBAS has a Management Cornmittee, which comprises of up to 8 members who meet monthly. At present the commlttee has 4 members from a variety of professlonal backgfounds relevant to the work of the charity. Day-to-day management of the organisation is by the Manager, Fran Begley, under the directlon of the Management Committee, and supported by the team. TRAINING SBAS takes tralnlng very seriously and all staff have it wrltten in the term5 of their contracts, that they have to attend at least 3 trainin8 or updatin8 course per year. One of our Debt Advisers are DRO intermediaries, and two are working towards attaining certlfication. Our Staff and volunteers attended a range of courses on a spectrum of issues in debt and welfare benefits. The trainlng 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 quallflcatlons and Is fundamental in moving volunteers into paid work. Thls contributes to the regeneration of the communlty by Increaslng 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 principle5 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 seciion of the public. South Bristol Advice Service aims to benefit the public directly by the provision of free independent, confidential and impartial 8eneralist and specialist advice service5 lo members of the public. Our clients come from wards of South Bristol. li
IT REPOAT ANO FINANCIAL STATEME14TS arch 2024 Itoni,) FINANaAL POSITION OF THE CHARITY The charlty's main lundin8 comes from two sources.. a core Brant from 8rlstol Clty Council, and a 8rant ffoffl the Money Advlce Service. At 31 March 2024 Ihe charlty had nel assets of £220,309, of whlch £179,657 weie unrestrlcted lunds. Movements in restrlcted funds are shown In not• 10 to the accounls. RESERVES POLICY The Trustees hav• establlshed J pollcy whereby th• unré$trlcted funds nat commltted or Invested In ianilble flxed asset5 {"the free reserves") held by the charlty should be three months of the total resoufces expended, which currently equates lo approxlmotely £84,0fy) based on the 2024125 budget. At thls lèvel, the management commlttee leel that they would b• able to contlnue the current activitles of the charlty In the event of a s18nificant drop In fundln8. It would obvlously be necessary to conslder how the fundln8 would b• replaced or 4¢tlvllles chinBed. The 'fr¢e re5er¥es" It 31 March Z024 were £149,057. TRUSTEES, IIESPONSI8ILITIES The Trustees IMJnaBemenl Commlltee rnembers) are requlred by company law to prepare financial staternents, which glve • true and falr view of the state of affairs ol the Charlty at the end of the financial perkxl and ol the Income and expenditure ol the Charlty for Ihe perlod ended cn that date. In preparln8 those financial statements, Ihe Trustees afe required to., select 5Ult¥ble accounlln8 pollcles and apply them con5i5tently Make jud6¢menl5 and estlmates that Jre reasonable and prudent Prepare the flnanclal statements on a goin8 concern basls unless It Is inappioprlate to presume that ihe Charliy will continue In buslness The fru5tee5 are also responslble for keeplng Proper accounting record5, which disc105e with reasonable accuracy at any Ilme the flnancial posltlon of the Charity and to enable them to ensure that the flnanclal statements comply wlth the Compatiles Act 21x16. They are also responslble for safeguarding the issets of the Charltv and hence for taklng reasonable steps for the preventlon and detecilon of fraud and other Irre8ularltle5. This report has been prepared In accordance wlth speclal piovlslons of Part 15 of the Companies Act 2006 relatin8 lo smjll companies. 8Y ORDER OF THE BOARO 0511%12< M¥na£ernent Cornmlttee Memb¢rlTrustee Date 12
INDEPENDENT AUDITORS REPORT TO THE MEMBERS OF UTH BRISTOL ADVICE SERVICES LIMITED BY GUARANTEE OPINION We havÈ audited the flnanclal statement5 of South Brislol Advice SeNices (the "charitable companv'l for the year ended 31 March 2024 which comprise the Statement of Financial Activities. the Balance Sheet, and the related notes. The financial reporting framework that has been applied in their preparatlon is applicable law and the Financial Reporting Standard appllcable in the UK and Republlc of Ireland (FRS 102). In our opinion the flnanclal statements: Bive a true and fair view of the state of the charitable company's affair5 as at 31 March 2024 and of its incomin8 resources and appllcation of resources, includin8 Its income and expenditure, for the year then ended; have been properly prepared In accordance wlth the Flnancial Reportin8 Standard appllca ble in the UK and Republic of Ireland IFRS 1021; and have been prepared In accordance wlth the fequlrements of the Companles Act 2006. This pOrt is made solely to the company's members, as a body, in accordance with Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those malters we are requlred to state to them In an audrtor's report and for no other purpose. To the fullest extent permltted by law, we do not accept or assume responsiblllty to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have lormed. BASIS FOR OPINION We conducted our audit in accordance with Internatlonal Standards on Audltin8 (UK} (ISAS (UKII and applicable law. Our responsiblllties under those Standards are further described in the Auditor's responslbilities for the audll of the flnanclal statements section of OUT report. We are independent of the charltable company in accordance with the ethlcal requirements that are relevant to our audit of the flnancial statements In the UK, Includln8 the FRC'S Ethical Standard, and we have fulfilled our other ethical responsibilities In accordance wlth these requlrements. We believe that the audlt evldence we have obtained is sufficienl and appropriate to provide a basis for our opinion. CONCLUSIONS RELATING TO GOING CONCERN We have nothin8 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 goin8 Concern basis of accountln8 in the preparatlon of the f inancial statements is not appropriate,, or the trustees have not disclosed in the financial 5talements any Identified material uncertainties that may cast Significant doubt about the charitable company's ability to continue to adopt the goin8 concern basis of accounting for a period of at leasl fwelve months from the date when the financial statements are authorised for i55ue. 13
INDEPENDENT AUDITORS REPORT TO THE MEMBERS OF OUTH 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 auditorfs report thereon. The trustees are responsible for the other information. Our opinion on the financial statements does not cover the other information and, except to the extenl otheThvise explicitly slaled in our report, we do not express any form of assurance conclusion thereon. In connection with our audit of Ihe flnancial statements, our re5ponsiblllty Is to read the other information and, in doin8 $0, consider whether the other informalion is materially inconsistent with the financial statements or our knowledge obtalned in the audlt or otherwlse appears to be materially misstated. If we identify such material inconsistencies or apparent materlal mi55taternents, V are required to determine whether there 15 a material mlsstatement in the financial statemenls or a material rni$5tatement of the other information. If, based on the work we have performed, we conclude that there 15 a malerlal mi55tatement of this other information, we are required to report that fact. We have nothln8 to report In this re8ard. OPINIONS ON OTHER mAER$ PRESCRIBED BY THE COMPANIES ACT 2006 In our opinion, based on the work undertaken in the course of the audit: the informatlon given in the trustees, report, which includes the directors, report prepared for the purposes of company law. for the flnanclal year for whlch the financlal statements are prepared is conslstent with the financial statements.. and the directors, report Included within the trustees, report has been prepared In accordance wllh applicable le8al requlrements, MAEftS ON WHICH WE ARE REQUIRED TO REPORT BY EXCEPTION We have nothlng to report ift respect of the following malters where the Companies Act 2006 requires us to report to you if, in our opinion: adequate accountin8 records have not been kept, or returns adequate for our audit hove not been received from branche5 not Visited by us; or the financlal statements are not in a8reement with the accountln8 records and returns: or certain disc105ures of tru5tee5' rernuneration specitled by law are not made,. or we have not received all the information and explanalions we require for our audit,. or the trustee5 were not entitled to prepare ihe financial statement5 in accordance wlth the small companies re8ime and take advanla8e of the small companies, exemption5 in preparin8 the trustee5' directors, report and from the requirement to prepare a strategic report 14
INDEPENDENT AUDITORS REPORT TO THE MEMBERS OF SOUTH BRISTOL AOVICE SERVICES LIMITED BY GUARANTEE RESPONSIBILITIES OF TRUSTEES As explained more fully in the trustees. responsibilities statement set out on page 15, the trustees (who are also the directors of the charitable company for the purposes of company law} are responsible for the preparation of the financlal statements and for belna satisfled that they give a true and fair view. and for such Internal control as the trustees directors determlne 15 necessary to enable the preparation of financial statements that are free from material mlsstatement, whether due to fraud or error. In preparing the financlal statements the truslees are responsible for assesslng the charitable company's abllity to continue as a goin8 concern, disclosln& as applicable, matter5 related io 8oln8 concern and using the golng concern basis of accounting unless the trustees elther Intend to liquidate the charitable company or to cease operations, or have no realistlc alternatlve but to do so. AUDITOR'S RESPONSIBILITIES FOR THE AUDIT OF TtrIE FINANCIAL STATEMENTS our objectives are to obtain reasonable assurance aboul whether the financlal slatements as a whole are free from malerial misstaternent, whether due to fraud or error, and to Issue an auditorf5 report Ihat Includes ovr opinlon. Reasonable assurance is a hi8h level of assurance, but is not a 8uarantee that an audlt conducled in accordance with ISAS (UK) will always detect a material m1s5tatemenl when It exists. Misstatements can arise from fraud or error and are consldered material If indlvldually or In a88regate, they could reasonably be expeded to Influence the economlc decisions of users taken on the basls of these financial statements. ITre8ularities, including f raud, are instances of non.compllance wlth law5 and regulations. We desi8n procedures In Ilne wlth our re5ponsiblltties, ouilined above, to detect material mlsstatements In respect of irregularities, including fraud, The extent to which our procedures are capable of detectin8 irre8ularltles, Includln8 fravd is detailed below.. An understandlng of the legal and regulatory framework appllcable to the charltable company was obtalned from the mana8ement and the trustees of the charltable company. The audit team was conflrmed to have the approprlate competence and capabllllles to idenllfy non.compliance wlth the framework. The audit plan consldered the rlsk of Irre8ularlties, Includlng fraud. An elernent of unpredictability was btsilt Into our sample selectlon for audit test5. The rlsk of fraud over Income was mltigated to an accepiable level as all income is grant income that is pald directly into the charitable company's bank account by funders: we agreed a ri5k-ba5ed Sample of grant income to relevant documentation and performed analytical procedure5 on income. The risk of misappropriation of the charitable companvs assets Wa5 considered: the charitable company's bank accounl balance was tested and confirmed to relevant documentation, and expenditure was tested for validiiy by substantlve tests that Included analytlcal procedures. Accountlng estlmates were considered a5 part of our audlt work. Is
INDEPENDENT AUDITORS REPORT TO THE MEMBERS OF SOUTH BRI L ADVICE SERVICES LIMITED BY GUARANTEE A further de5crlption of our respon51bllitie5 for Flnanclal Reportin8 Councll's website at forms part of ouraudit report. e audit of the financial statements is located on the .frc.o les. Thls descrlptlon STEPHEN BURNSIDE KA Isenlor Statutory Audltor) For and on behalf ol 8URNSIDE Chartered Accountants & Statutory Audltor 61 Queen Square Brlstol BSI 4JZ Date: 41,,1 16
SOUTH BRISTOL ADVICE SERVICES LIMITEO BY GUARANTEE STATEMENT OF FINANCIAL AcfiviTIES FOR THE YEAR ENDED 31 MARCH 2024 Unrestricted Funds Restricted Total funds Funds 024 Total funds 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: Raisln8 funds.. Costs of applying for grants and donations Charitable actlvlties: 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/ (expenditure) 36,668 48,240 84,908 47,407 Transfers between fund5 10 11,S55 (11,555 Net movement 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 financial activities includes all 8ains and losses recognised in the year. All income and expenditure derive from continuing activities. The notes on pages 19 to 29 form part of these accounts. 17
so 1ST vi Ll BALANCE SHEET AT JI MARCH 20 02 Notes FIXEO ASSET5 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: Amounls fallln8 due wlthln one year 142,816} 158,251) NET CURRENT AssErs 203,775 131,326 TOTAL Ntr ASSÉTS 220,309 135,401 THE FUNDS OF THE CHARITr: Restrlthed UnreStr1ed. General De$l8nated io 40,652 3,967 li li 165,S91 14,066 114,434 17,000 TOTAL CHARITY FUNDS 12 120,309 13S,401 The accounts have been prepared In a¢cord•nce wlth the speclal provlslons of Part IS of the ornpanle5 Act 2006 relatln8 to small companles. Approved by the Trustees on and siined on their behalf by CHRISTINE MARCIA TRUSTEE (TREASURER) Date Company numbei., 03469233 The notes on pa8es 19 to 29 form part oi ihese account5. 18
SOUTH BRISTOL AOVICE SERVICES LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 I.ACCOUNTING POLICIES (a) Accountln8 Conventlon The flnanclal statements have been prepared In accordance with Accounting and Reportin8 by Charities.. Statement of Recommended Practice applicable to charities preparlng their accounts in accordance wlth the Financial ReportlnE Standard appllcable in the UK and Republic of Ifeland IFRS 102) (effective l January 2019)- (Charities SORP (FRS 102)), the Flnanclal Reportlng standard applicable in the UK and Republlc of Ireland (FRS 102) and the Companies Act 2CK)6. (b) Golng concern At 31 Mafch 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 unrestrlcted general reserves less designated fund5 less fixed assets held in general reserves, totalled £149,057. The target for free reserves Is to hold 3 months of total expendlture, which currently equate5 to around £84,000. The charity has prepared a budget and ca5hflow forecast for the year ended 3 1 March 2025 which show5 that the charity has forecast a small surplus for the year of around £20,CKKI. Thls initial budget does not include funding applications that are pending declsion. The management committee therefore have a reasonable expectation that the charlty w511 be in operation 12 months from the date of approval of these accounts and that the charity remain5 a going concern. The accounts have therefore been prepared on a goin8 concern basis. (c) Income Donations and grants Income from donations and 8rants, including capital grants, Is Included in incomlng resources when these are receivable, except as follows: When donors specify that donations and grants given to the tharity must be used in future accounting periods, the income Is deferred until those periods When donors Impose 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-condition5 for use have been met. 19
SOUTH BRISTOL ADVICE SERVICES LIMITED BY GUARANTEE NOTE5 TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Icontlnuedl I.ACCOUNTING POLICIES Icontlnued) Ic) Income Icontlnued) When donors specify that donations and grants, including capital 8rants, are for restricted purposes, whlch do not amount to pre-conditions re8ardin8 entitlement, thls income is included in incoming resources of restricted funds when receivable. Interest receivable Interest is included when recelvable by the charity. Id) Expendlture Expenditure Is Included In the Statement of Financial Activities on an accruals basis, inclusive of any VAT, whlch cannot be recovered. Most expenditure Is directly attributable to a speclflc activity and Is alllxated 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 Advlce 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 dlrectly attributable to providln8 the charitles specialist debt a nd welfare advice. (el Operatlng leases Rentals payable under operating leases are charged to the Statement of Financial Activities incurred over the term of the lease. (f ) Tanglble flxed assets The cost of tanglble flxed assets is written-off by equal annual Instalments over their expected useful lives as follows.. Leasehold improvements Furniture, fixtures and equipment 10 years 4 years {gl Debtors Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the arnount prepaid net of any trade discounts due. 20
SOUTH BRISTOL ADVICE ERVICES LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 (continued) lhl Credltors and provislons Creditor5 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 provlsions are normally tognIsed at thelr settlement amount after allowin8 for any trade discounts due. li) Funds accountln8 Funds held by the charity are: Unrestricted general funds- these are funds, which can be used in accordance with the charitable objects at the dlscretlon of the trustees. Restricted funds these are fund5 that can only be used for particular restrlcted purposes within the objects of the charity, Restrictions arise when speclfied by the donor or when funds are raised for particular restricted purposes. Further explanation of the nature and purpose of each fund 15 included in the notes to the accounts. Penslon costs The company operates a defined contribution penslon 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 8Y GUARANTEE NOTES TO THE FINANCIAL STATEMENTS R TH YEAR ENDED 31 MAR H 2024 (continued) COMPARATIVE YEAR STATEMENT OF FINANCIAL ACTIVITIES Unrestrlcted Fund Restricted Total f unds Funds 2023 INCOME FROM: Grants and donations 217,709 96,489 314,198 TOTAL INCOME 217,709 96,489 314,198 EXPENDITURE ON., Raising f unds: C05ts of applylng for grants And donations Charitable actlvities: Advice and information 13,325 13,325 161,550 91,916 253,466 TOTAL EXPENDITURE 174,875 91,916 266,791 Net incorne/ (expenditure) 42,834 4,573 47,407 Transfers between funds 606 (6061 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 8Y GUARANTEE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 {continuedl GRANTS AND DONATIONS RECEIVABLE Durlng the year, the following grants and donations have been re¢eive(I from the following organisations: Unrestricted Funds Restricted Total 2024 Total 2023 Bristol City Councll - Partnership Fund Bristol City Council - Cost of Living Fund Money and Penslons Service National Lottery Community Fund Trusthouse Charitable Foundation Wessex 8ristol Water European Unlon Settlement Scheme Quartet Foundation Alfred Hlll Fund The Nisbett Trust Advlce UK Independent Age Cost of Living Fund Cltlzens Advlce Household Support Fund Computers and Modernisation Fund Other grants and donation5 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 2,000 147,324 85,726 4,664 18,540 1,106 21,450 12,000 1,000 12,1)00 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 EXPENDITURE Other Direct sts staff Costs Total 2024 Total Costs of applylng 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 ADVIC SERVIC LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 (continued) TOTAL EXPENDITURE (continued) OTHER DIREcf COSTS Total 2024 Total 2023 Grants pald Information and resources Professional fee5 Office costs Staff and volunteers, training and expenses Depreciation Rent and premise5 Costs Audit and accountancy fee5 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 Thls Is stated after charging: Depreciation of owned assets Auditors, remuneration Audlt Non audit 2,234 3,107 5,800 2,534 5,500 4,583 24
SOUTH BRISTOL ADVICE SERVICES LIMITED 8Y GUARANTEE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Icontinuedl STAFF COSTS AND TRUSTEES, REMUNERATION Staff costs were as follows., 2024 2023 Wages and salaries Employerfs Natlonal 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 durin8 the year was 912023 - 91. No remuneratlon was pald to the Trustees. No expenses were relmbursed to Trustee5. The centre manager total emoluments, includin8 employer's pension contrlbution, in the year were £40,19612023- £36,482). There are no related party transactSons to report in the perlod. TANG18LE ASSErs Fixtures, Flttings and Leasehold vements COST At l April 2023 Additlons 4,2CX) 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 ENDEO 31 MARCH 2024 (continued) DEBTORS 2024 2023 Other debtors Fees and grants receivable 1,758 3,537 5,771 1,758 9,308 CREDITORS 2024 Amounts falllng due wlthin one year.. Trade credltors Taxation and social security Accruals Other creditor5 Oeferred income 1,316 8,325 7,200 250 25,725 4,504 3,878 6,540 250 43,079 42,816 58,251 26
?J 10 rl
SOUTH BRISTOL ADVICE SERVICES LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 20241continued) 10. RESTRICTED FUNDS Icontinuedl Restricted funds of £40,652 at the year-end are made up of cash. Com ut and Moderni5 tion Fund Grant to provide funds for new computers and modernlsation of the charitWs offices. Welfare advi ect This grant from The National Lottery Communities Fund is to fund welfare advlce. Over 55 advice ro ect Grants to provide advice to over Sss that suffer disabilities or mental Illness. Euro ean Unlon Settlement Scheme Fundin8 to help EU citlzens to obtain the right of residency In the EU after BREXIT. ost of Livin fund Grant from Brlstol City Councll to fund salary costs of advlsor to provide advice on issues arisifig from the C05t.of.Living crisis. DRO fund Grant to cover administratlon costs of makin8 DRO applications. Flnancial abllit fund Grant from Wessex Water to fund Income maxlmlsation se5s1ons, mainly around benefits. Inde Grant from Independent Age toward5 the older peoples assisted Income maxlmlsatlon, dlsability, benefits and debt project. Household Su ort Grant from Citizens Advlce Bristol to fund household support sesslons and coffee mornings for communities across Bfistol who are acutely affected by the cost-of-living crisis. 11, UNRESTRICTED FUNDS Total IT Unrestricted Fund Funds General Fundraisin8 Fund Fund Tralnlng Fund Balance b/fwd 114,434 10,000 4,000 131,434 Income 220,280 220,280 Expenditure 1170,678) iio,000) (247) 12,6871 1183,6121 Transfers 1,555 10,000 11,555 Balance c/fwd 165,591 io,cKJo 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 (continued) 11. UNRESTRicfED FUNOS {continued) 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