SOUTH BRISTOL ADVICE SERVICES (LIMITED BY GUARANTEE) REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 CONTENTS Management committee's report Independent examiner's report Statement of financial activities Balance sheet Notes to the financial statements Page 2-14 15 16 17-18 19-29 Registered charity number - 1066392 Company number - 3469233 SOUTH BRISTOL ADVICE SERVICES
SOUTH BRISTOL ADVICE SERVICES (LIMITED BY GUARANTEE) REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Report of the Management Committee for year ended 31 March 2025 The Management Committee presents its report and financial statements for the year ended 31 March 2025. Due to the Management Committee's status 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 by the Charities Act 2011 and has been prepared taking advantage of the exemptions conferred by Part 15 of this 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 (FRS 102) (effective 1 January 2019), and with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). OBJECTS AND ACTIVITIES 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 objects for the year through the provision of information advice and advocacy as summarised below. Our generalist service offers information, advice 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 (AQS) 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. 2
SOUTH BRISTOL ADVICE SERVICES (LIMITED BY GUARANTEE) REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Report of the Management Committee for year ended 31 March 2025 (cont.) ACHIEVEMENT AND PEFORMANCE South Bristol Advice Services has had another successful year, working on behalf of our service users (Clients) to ensure that they receive financial support in line with their entitlements, with regard to their specific circumstances and in accordance with their circumstances. We are seeing many clients that do not usually require our help, but due to the cost of living and the changes to the Welfare Benefits through Migration to Universal Credit, they are being adversely affected as the system is complex. The need for a phone and email and proofs of identity are are putting many of our clients at risk of losing payments; the fact that rent is paid with Universal Credit as Housing Allowance, also puts them risk of Homelessness. Our community Our community has most of the Local Super Output Areas (LSOAs) in Bristol. It is often overlooked as having deprivation as the LSOAs are bordered by well-to-do areas. The highest level of deprivation in Bristol at ward level are Hartcliffe and Withywood, Hengrove, Whitchurch Park, and Lawrence Hill. Of the 34 LSOAs that make up the 10% lowest income areas nationally, 17 are in South Bristol. The 10 most deprived LSOAs (areas of approx. 1,500) are all in South Bristol; Hartcliffe and Withywood, Whitchurch Park, and Knowle Hareclive. 3 highest people struggling financially by equality groups Single Parents 30% Black Ethnicity 24% Disabled 21.5% Income Deprivation Affecting Children Bristol has 17,200 people who live in deprived households in 7 LOAs. 6 are in South Bristol Whitchurch Lane is the 99'h most deprived area in England. Health Deprivation & Disability 34 LSOAs are in the lowest 10% of deprivation in England. 21 of these are in South Bristol, 7 in the Inner City, 4 in Noth and West Bristol, and 2 in East Bristol 3
SOUTH BRISTOL ADVICE SERVICES (LIMITED BY GUARANTEE) REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Report of the Management Committee for year ended 31 March 2025 (cont.) The Following charts illustrate the work we have carried out on behalf of the community Opened and Closed Cases 2024-2025 1666 1723 • Opened • Closed We have on average 350 cases open that we are working on at any one time. Please note: Over 2,000 additional clients have been provided with one-off advice, fact sheets, the use of a computer or a phone, or the contact details of another organisation whose details are not recorded except by Tally Sheet. Health & Disability 2024-2025 27 439 396 40 149 331 • Sensory • Physical ~ Mental & Physical ill Health • Mental I Health • Health Issue • Cognitive • None 404 4
SOUTH BRISTOL ADVICE SERVICES (LIMITED BY GUARANTEE] REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Report of the Management Committee for year ended 31 March 2025 (cont.) Over 70% of our clients have a Disability or Health Condition that affects their day-to-day life. Clients By Age 2024-2025 421 155 254 286 480 • 0-16 • 17-24 • 25-34 • 35-49 • 50-64 • 65+ • Not Given 474 Gender 2024 - 2025 15- 13 • Female • Male • Prefer not to say • Transgender
SOUTH BRISTOL ADVICE SERVICES (LIMITED BY GUARANTEE) REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Report of the Management Committee for year ended 31 March 2025 (cont.) Cases Opened by Matter 2024-2025 127 155 716 • Debt • Welfare Benefits • Homelessness Prevention • General 883 We have a growing number of older clients often due to them not having the internet or a phone or computer and/or the complexity of claiming. Initial Contact 2024-25 60 345 313 764 • Face to Face • Advice line /Phone • Referal • Post • email • website 268 Most of our clients have come in person for help and we triage each client and if we can deal with it on the spot we do. Although most need an appointment or a follow-up appointment. These can be in person or on the phone, all clients are given the choice. 6
SOUTH BRISTOL ADVICE SERVICES (LIMITED BY GUARANTEE) REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Report of the Management Committee for year ended 31 March 2025 (cont.) £194,477 £357,172 Financial Gains 1st April 2024-31st March 2025 E6,721 £247,918 - 120,371 • Attendence Allowance £117,248 E119,329 • Bankrutcy E124,266 E173,599 • Bristol Wessex Water • Child DLA • Debt Relief Order • Discretionary Housing Payment • ESA • Charitable Payment • Debt Write off • Pension Credit E106,633 £52,148. -€21,135 E21,194 -E16,093 • PIP Appeals • PiP new claim Financial gains achieved for our clients totalled £5,079,373 in the year. Funding work. South Bristol Advice Services values and appreciates every Funder or Contribution to our Big Thanks to: The National Lottery Community Fund COMMUNITY FUND For many 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 us to complete the last few years without the stress of potential loss of hours or redundancy for our team and the loss of service to our community. Our award is due to end mid-way through 2026. 7
SOUTH BRISTOL ADVICE SERVICES (LIMITED BY GUARANTEE) REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Report of the Management Committee for year ended 31 March 2025 (cont.) Also Big Thanks 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/Clients 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. Most of our clients are vulnerable due to disability, with 71% of our clients identifying as having a disability or issue. 1 5 70 Bristol City Council provide funding to the charity as Part of the Bristol Advice Partnership (BAP) and the Household Support Fund 7 (HSF) NATER company Bristol Water and Wessex Water help fund advice to clients with water debts. W Garfield Weston FOUNDATION Core funding grant for one year community Foundation Quartet Community Foundation/Chapman Family Fund /Alfred Hill Fund 8
SOUTH BRISTOL ADVICE SERVICES (LIMITED BY GUARANTEE) REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Report of the Management Committee for year ended 31 March 2025 (cont.) Project 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 /or debt due to clients not having 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 those who have mental issues or who are older, from not 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. PLANS FOR THE FUTURE We are looking for funders with whom we have history for some 3-year periods 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 are working on building funding partnerships with other agencies and/or organisations to strengthen the services we provide to the Community. We remain committed to providing advice and assistance to the South Bristol Community and are, along with the Management Committee, reviewing our funding strategy in the coming months. This will consider the impact of the changes to welfare benefits and the continuing cost of living crisis on our clients. We hope to fund a deputy CEO to help with the running of the charity and to build succession planning to help safeguard the organisation in future years.
SOUTH BRISTOL ADVICE SERVICES (LIMITED BY GUARANTEE) REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Report of the Management Committee for year ended 31 March 2025 (cont.) GENERAL INFORMATION Accountants & Independent Examiner: Metis Tax Castlemead Lower Castle Street Bristol BS1 3AG Principal Address: Withywood Centre Queens Road Withywood Bristol BS13 8QA Management Committee: Chair Treasurer Members Key Personnel: CEO: Deputy CEO Finance & administration: Supervisor: Debt team leader Welfare benefits team leader Caseworkers: Debt Advice Assistant Bankers: Unity Trust Bank 4 The Square 1 Broad Street Birmingham B15 IAR Michael Manley Christine Marcia Anne-Marie Rogers Roger Carver Fran Begley FRSA LLB (Hons) Dip RSA Dip Ed Vacant Gill Morris External -Karen Brown Kyley Hooper GGDA DRO Intermediary Vacant Claire Weeks NVQ IAG Level 3 Karen Mead NVQ IAG Level 3 James Clifford WB Advisor Connie Champion Debt Adviser Claire Elson LLB (Hons) WB/Housing Kirsty House Trainee Debt Adviser Mia Hooper Trainee Debt Adviser Samantha Chandrasakera WB Adviser Hayley Massiah 10
SOUTH BRISTOL ADVICE SERVICES (LIMITED BY GUARANTEEl REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Report of the Management Committee for year ended 31 March 2025 (cont.) STRUCTURE, GOVERNANCE AND MANAGEMENT Organisational Structure SBAS has a Management Committee, which comprises up to 8 members 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. Mike Manley Chair Anne -Marie Rogers Secretary Christine Marcia Treasurer Roger Carver Trustee Deputy CED Connie Champion Debt Advice Worker Mia Hooper Trainee Debt Advice Worker Hayley Massiah Debt Advice Assistant P/T Kirsty House Trainee Debt Adviser P/T Gill Morris admis and Financa Oficer. Vacant Admin Worker Claire Elson Volunteer/Advice Warker Karen Mead Welfare Benefits Advice Worker Claire Weeks Welfare Benefits Advice Worker James Clifford OP Welfare Benefits Advice Worker SamChandraskera Wellare Benelits Advice Worker Governing Document The organisation is a charitable company limited by guarantee, incorporated on 20'" 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 being wound up members are required to contribute an amount not exceeding £5.
SOUTH BRISTOL ADVICE SERVICES (LIMITED BY GUARANTEE) REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Report of the Management Committee for year ended 31 March 2025 (cont.) Recruitment and Appointment of Management Committee The directors of the company are also charity trustees for the purposes of charity law and under the company's Articles are known as members of the Management Committee. Under the requirements of the Memorandum and Articles of Association, the members of Management Committee are expected to serve for a period of 1 year. At the Annual General Meeting all members resign and then may offer themselves (in person or by Proxy) 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 induction 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 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. Risk Management The Trustees 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 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 policies and procedures that have been put in place to ensure with health and safety of staff, volunteers, clients, and visitors to the service. A current bank statement and a trial balance sheet are produced at Management Committee meetings six times per year to ensure that sufficient funding is in place for the current year. 12
SOUTH BRISTOL ADVICE SERVICES (LIMITED BY GUARANTEE) REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Report of the Management Committee for year ended 31 March 2025 (cont.) 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. Two of our Debt Advisers are DRO intermediaries, and our Trainee is working towards attaining her certification. One is MIMA certified and the Other GGDA 1 is working towards 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. FINANCIAL POSITION OF THE CHARITY The charity's main funding comes from three sources: a core grant from Bristol City Council, a grant from the Money Advice Service, and a grant from the National Lottery Community Foundation. At 31 March 2025 the charity had net assets of £237,660, of which £237,660 were unrestricted funds. Movements in restricted funds are shown in note 10 to the accounts. 13
SOUTH BRISTOL ADVICE SERVICES (LIMITED BY GUARANTEE) REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Report of the Management Committee for year ended 31 March 2025 (cont.) RESERVES POLICY The Trustees have established a policy whereby the unrestricted funds not committed or invested in tangible fixed assets ("the free reserves") held by the charity should be six months of the total resources expended, which currently equates to approximately £180,000. At this level, the management committee feel that they would be able to continue the current activities of the charity in the event of a significant drop in funding. It would obviously be necessary to consider how the funding would be replaced or activities changed. The "free reserves" at 31 March 2025 were £206,098. TRUSTEES' RESPONSIBILITIES The Trustees (Management Committee members) are required 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 period and of the income and expenditure of the Charity for the period ended on that date. In preparing those financial statements, the Trustees are required to: Select suitable accounting policies and apply them consistently Make judgements and estimates that are reasonable and prudent Prepare the financial statements on a going concern basis unless it is inappropriate to presume that the Charity will continue in business The Trustees are also responsible for keeping proper accounting records, which disclose with reasonable accuracy at any time the financial position of the Charity and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. This report has been prepared in accordance with special provisions of Part 15 of the Companies Act 2006 relating to small companies. BY ORDER OF THE BOARD CMarcia 25|06 | 25 Management Committee Member/Trustee 14
INDEPENDENT EXAMINERS REPORT TO THE MEMBERS OF SOUTH BRISTOL ADVICE SERVICES (LIMITED BY GUARANTEE) (the Company) I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2025. Responsibilities and basis of report As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act'). Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5) (b) of the 2011 Act. Independent examiner's statement Since the Company's gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because 1 am a member of the Institute of Chartered Accountants in England & Wales, which is one of the listed bodies. I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe: 1. the accounting records were not kept in respect of the Company as required by section 38 of the 2006 Act; or 2. the accounts do not accord with those records; or 3. the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a 'true and fair view which is not a matter considered as part of an independent examination; or 4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)). I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. Name: Mark Pooley FCA Address: Metis Tax Limited, Castlemead, Lower Castle Street, Bristol, BS1 3AG Date: 25/06/25 15
SOUTH BRISTOL ADVICE SERVICES (LIMITED BY GUARANTEE) STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2025 Including income & expenditure Note Unrestricted Funds E Restricted Total funds Funds 2025 INCOME FROM: Grants and donations 3 209,273 209,273 168,559 168,559 377,832 377,832 TOTAL INCOME EXPENDITURE ON: Raising funds: Costs of applying for grants and donations Charitable activities: Advice and information TOTAL EXPENDITURE Net income/ (expenditure) Transfers between funds 4 5 10,11 Net movement in funds Reconciliation of funds: Total funds brought forward Total funds carried forward 17,278 146,659 163,937 - 45,336 12,667 58,003 179,657 237,660 - 196,544 196,544 (27,985) (12,667) (40,652) 40,652 17,278 343,203 360,481 17,351 17,351 220,309 237,660 The statement of financial activities includes all gains 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. 16 Total funds 2024 407,411 407,411 14,724 307,779 322,503 84,908 84,908 135,401 220,309
SOUTH BRISTOL ADVICE SERVICES (LIMITED BY GUARANTEE) BALANCE SHEET AT 31 MARCH 2025 2025 Notes 2024 € FIXED ASSETS Tangible assets 7 28,809 16,534 CURRENT ASSETS Debtors Cash at bank and in hand 8 2,807 247,798 CREDITORS: Amounts falling due within one year NET CURRENT ASSETS 9 TOTAL NET ASSETS 250,605 (41,754) 208,851 237,660 1,758 244,833 246,591 (42,816) 203,775 220,309 THE FUNDS OF THE CHARITY: Restricted Unrestricted: General Designated 10 11 11 TOTAL CHARITY FUNDS 12 234,907 2,753 237,660 40,652 165,591 14,066 220,309 The Trustees are satisfied that the company is entitled to exemption from the provisions of the Companies Act 2006 (the Act) relating to the audit of the financial statements for the year by virtue of section 477, and that no member or members have requested an audit pursuant to section 476 of the Act. ( 17
SOUTH BRISTOL ADVICE SERVICES (LIMITED BY GUARANTEE) BALANCE SHEET (continued) AT 31 MARCH 2025 The Trustees acknowledge their responsibilities for: i. ii. ensuring that the company keeps adequate accounting records which comply with section 386 of the Act, and preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of the financial year and of its profit or loss for the financial year in accordance with the requirements of section 393, and which otherwise comply with the requirements of the Act relating to financial statements, so far as applicable to the company. These financial statements have been prepared in accordance with the special provisions for small companies under Part 15 of the Companies Act 2006. Approved by the Trustees on 25|6/25and signed on their behalf by Cmarcia Date 2s/36/25 CMARCIA - DIRECTORIZRUSTEE 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 2025 1 ACCOUNTING POLICIES (a) 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 (FRS 102) (effective 1 January 2019) - (Charities SORP (FRS 102)), the Financial Reporting standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006. (b) Going concern At 31 March 2025, the charity had total funds of £237,660 (2024 - £220,309). Restricted funds amounted to Enil (2024 - £40,652). The free reserves of the charity, being unrestricted general reserves less designated funds less fixed assets held in general reserves, totalled £206,098. The target for free reserves is to hold 6 months of total expenditure, which currently equates to around £180,000. The charity has prepared a budget and cashflow forecast for the year ended 31 March 2026 which shows that the charity has a forecast surplus for the year of around £2k. The management committee therefore have a reasonable expectation that the school 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. (c) 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 is deferred until those periods When donors impose conditions, which must be fulfilled before the charity becomes entitied 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 2025 (continued) 1. ACCOUNTING POLICIES (continued) (c) Income (continued) When donors specify that donations and grants, including capital grants, are for restricted purposes, which do not amount 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. (d) Expenditure Expenditure is included in the Statement of Financial Activities 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 manager's 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 charity's 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. (e) Operating leases Rentals payable under operating leases are charged to the Statement of Financial Activities incurred over the term of the lease. (f) Tangible fixed assets The cost of tangible fixed 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 (g) Debtors Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. 20
SOUTH BRISTOL ADVICE SERVICES (LIMITED BY GUARANTEEI NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 (continued) (h) (i) Creditors and provisions 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 Funds 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. 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 2025 (continued) 2. COMPARATIVE YEAR STATEMENT OF FINANCIAL ACTIVITIES Unrestricted Funds Restricted Funds Total funds 2024 INCOME FROM: Grants and donations TOTAL INCOME 220,280 220,280 187,131 187,131 407,411 407,411 EXPENDITURE ON: Raising funds: Costs of applying for grants And donations Charitable activities: Advice and information TOTAL EXPENDITURE 14,724 168,888 183,612 138,891 138,891 14,724 307,779 322,503 Net income/ (expenditure) 36,668 11,555 48,223 48,240 (11,555) 36,685 84,908 Transfers between funds Net movement in funds Reconciliation of funds: Total funds brought forward 84,908 Total funds carried forward 131,434 179,657 3,967 40,652 135,401 220,309 22
SOUTH BRISTOL ADVICE SERVICES (LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 (continued) 3. GRANTS AND DONATIONS RECEIVABLE During the year, the following grants and donations have been received from the following organisations: Unrestricted Funds Restricted Funds Bristol City Council - Partnership Fund Money and Pensions Service National Lottery Community Fund Garfield Weston Foundation Trusthouse Charitable Foundation Wessex Bristol Water European Union Settlement Scheme Independent Age Cost of Living Fund Citizens Advice HSF - Cost of Living Citizens Advice HSF - Older People Citizens Advice HSF - Filwood Outreach Computers and Modernisation Fund Quartet Foundation The Nisbett Trust Advice UK Other grants and donations 35,857 145,236 10,000 13,650 1,787 90,008 - 19,659 16,997 22,608 17,500 168,559 Total 2025 35,857 147,023 90,008 10,000 13,650 19,659 16,997 22,608 17,500 3,000 1,000 530 377,832 Total 2024 35,857 147,324 85,726 4,664 39,990 1,106 19,660 10,000 - - 22,435 - 12,000 26,000 2,649 407,411 TOTAL EXPENDITURE Costs of applying for grants and donations Advice and information 3,000 1,000 530 - 209,273 - Staff Costs 17,278 261,838 279,116 - Other Direct Costs 81,365 81,365 Total 2025 17,278 343,203 360,481 Total 2024 14,724 307,779 322,503 23
SOUTH BRISTOL ADVICE SERVICES (LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 (continued) 4. TOTAL EXPENDITURE (continued) OTHER DIRECT COSTS Total 2025 Information and resources Professional fees Office costs Staff and volunteers' training and expenses Depreciation Rent and premises costs Audit and accountancy fees 19,654 3,640 15,798 3,937 6,813 22,835 8,688 81,365 5. NET INCOME FOR THE YEAR This is stated after charging: Depreciation of owned assets Auditors' remuneration Audit Non audit Independent examiner Independent examination Non independent examination 2025 6,813 3,288 1,200 4,200 24 Total 2024 9,362 3,972 29,321 2,914 2,234 18,937 8,334 75,074 2024 2,234 5,800 2,534
SOUTH BRISTOL ADVICE SERVICES (LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 (continued) 6. STAFF COSTS AND TRUSTEES' REMUNERATION Staff costs were as follows: Wages and salaries Employer's National Insurance Pension costs 2025 254,295 14,751 10,070 279,116 2024 227,318 12,248 7,863 247,429 7. No employee earned £60,000 p.a. or more. The average number of employees during the year was 12 (2024 - 9). The average number of full-time employees was 4 (2024 - 4). The average number of part-time employees was 8 (2024 - 5). No remuneration was paid to the Trustees. No expenses were reimbursed to Trustees. The centre manager total emoluments, including employer's pension contribution, in the year were £48,173 (2024 - £40,196). There are no related party transactions to report in the period. TANGIBLE ASSETS Leasehold Improvements Fixtures, Fittings and Equipment COST At 1 April 2024 Additions At 31 March 2025 15,000 9,525 24,525 48,325 9,563 57,888 Total 63,325 19,088 82,413 DEPRECIATION At 1 April 2024 Charge for the year 2,370 2,453 44,421 4,360 46,791 6,813 At 31 March 2025 NET BOOK VALUE At 31 March 2025 At 31 March 2024 4,823 19,702 12,630 48,781 53,604 9,107 28,809 3,904 16,534 25
SOUTH BRISTOL ADVICE SERVICES (LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 (continued) DEBTORS Other debtors 9. CREDITORS Amounts falling due within one year: Trade creditors Taxation and social security Accruals Other creditors Deferred income Deferred income Balance brought forward Released to income Deferred in year Balance carried forward 26 2025 2,807 2,807 2025 1,513 4,203 5,400 250 30,388 41,754 25,725 (25,725) 30,388 30,388 2024 1,758 1,758 2024 1,316 8,325 7,200 250 25,725 42,816 43,079 (43,079) 25,725 25,725
SOUTH BRISTOL ADVICE SERVICES (LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 (continued) 10. RESTRICTED FUNDS Balance brought forward INCOME Grants received Computer and Modernisation 10,880 1,787 EXPENDITURE Salaries Information and resources Premises costs Other direct costs, including office costs Total expenditure Balance before transfers Transfers to unrestricted funds 12,667 (12,667) Balance carried forward National Lottery CF 5,817 90,008 75,483 4,914 5,709 9,719 95,825 27 DRO Independent Fund Age 20,678 3,277 19,659 20,678 22,936 20,678 22,936 Filwood Outreach 22,608 22,608 22,608 Older People 34,497 34,497 34,497 Total 40,652 168,559 176,202 4,914 5,709 9,719 196,544 12,667 (12,667)
SOUTH BRISTOL ADVICE SERVICES (LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 (continued) 10. RESTRICTED FUNDS (continued) Restricted funds of Enil at the year-end are made up of cash. Computer and Modernisation Grant to provide funds to upgrade the charity's computer equipment. National Lottery Community Funds Funding for core costs, including the salaries of welfare benefit advisers and their office overheads. Independent Age A grant to fund the salary costs of a welfare benefit adviser for people over the age of 65. DRO fund Grant to cover the costs of making DRO applications. Older People Grants to fund the salary costs of welfare benefit advisers for people over the age of 55. Filwood Outreach A grant to cover the salary costs of an adviser to run the Filwood Outreach. 11. UNRESTRICTED FUNDS Balance b/fwd Income Expenditure Transfers General Fundraising Fund Fund € 10,000 165,591 209,273 (153,937) 13,980 (10,000) Training Fund € 2,753 Total IT Unrestricted Fund Funds 1,313 (1,313) 179,657 209,273 (163,937) 12,667 - Balance c/fwd 234,907 2,753 237,660 The Fundraising designated fund was allocated to fund part of the expected of cost of applying for grants in 2024/25. The fund was expended in the year. The training fund is allocated for training for new staff that are planned to be engaged in 2025/26. The IT Fund is allocated for new equipment for planned new staff. Equipment was purchased in the year and capitalised. 28
SOUTH BRISTOL ADVICE SERVICES (LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 (continued) 12. ANALYSIS OF NET ASSETS BETWEEN FUNDS At 31 March 2025 net assets were held in the following funds. Restricted Funds Designated Funds € General Funds Fixed assets Net current assets 2,753 28,809 206,098 Net assets - 2,753 234,907 29 Total Funds 28,809 208,851 237,660