COMPANY REGISTRATION NUMBER: 03449469 CHARITY REGISTRATION NUMBER: 1066921 North Bristol Advice Centre Company Limited by Guarantee Unaudited Financial Statements 31 March 2024 WALTER HUNTER & CO LIMITED Chartered accountants 24 Bridge Street Newport South Wales NP20 4SF
North Bristol Advice Centre Company Limited by Guarantee Financial Statements Year ended 31 March 2024 Page Trustees, annual report (incorporating the directorfs report) Independent examinerfs report to the trustees Statement of financial activities (including income and expenditure account) statement of financial position 12 14 15 Statement of cash flows 17 Notes to the financial statements
North Bristol Advice Centre Company Llmlted by Guarantee Trustees. Annual Report (Incorporating the Directorfs Report) Year ended 31 March 2024 The trustees, who are also the directors for the Purposes of company law. present their report and the unaudited financial statements of the charity for the year ended 31 March 2024. Reference and admlnlstratlve detalls Registered charlty name North Bristol Advice Centre Charity rnglstratlon numbor 1066921 Company regislratlon number 03449469 Principal office and registered 2 Gainsborough Squa office Lockleaze Bristol BS7 9XA The trustees S Edmunds R Walters T Mahari J Rogers J Sankey J Garel C MacDiarmid (Resigned 11 October 2023) (Appointed 10 May 2023) Independonl examiner Mr Jonathan Rhodes Bsc BFP FCA 24 Bridge Street Newport South Wales NP20 4SF
North Bristol Advice Centre Company Limited by Guarantee Trustees. Annual Report (Incorporating the Directorfs Report) (condnued) Year ended 31 March 2024 Structure. governance and management The trustees are pleased to present their annual Directors. report together with the financial ststements of the charity for the year ended 31 March 2024 which are also prepared to rneet the requirements for a Directors, report for Companies Act purposes. 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 small charities preparing their accounts in accordance with the Financial Reporting Stsndard applicable in the UK and Republic of Ireland {FRS102) (effective 01 January 2015). The organisation incorporated as a charitable company limtted by guarantee and registered as a charity on 14110197. The company was established under a Memorandum of Association which established the objects and powers of the charitable company and is govemed under its Articles of Association. In the event of the company being wound up members are required to contribute an amount not exceeding £1. anisational Structure North Bristol Advice Centre has a Management Committee who meet monthly and are responsible for the strategic direction and policy of the charity. This financial year the board had seven members from a variety of backgrounds relevant to the work of the charity- A scheme of delegation is in place and day to day responsibilty for the provision of the services rests th the Director. Head of SeNices and Weare Beneffts Team Leader. The Director is responsible for ensuring that the charity delivers the services specÉfied and that key targets are met. The Head of Services has responsibility for the day to day operational management of the advice service, and individual supervision of the advice team. They also ensure that team members continue to develop their skills and working practices in line with good practice. Recruitment and intrnent of Mana ement Committee The DIOr$ 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. North Bristol Advice Centre offers advice trj a wide cross section of people within the local community. The Management Committee seeks to ensure that the needs of the local communty are appropriately reflected through the diversity of the trustee body. One trustee stepped down and one new trustee was appointed in 2023124. The more traditional business and professional skills are V11 represented on the Management Committee. In the event of particular skills being lost due to retirement. new individuals are approached to offer themselves for election to the Managernent Committee.
North Bristol Advlce Centre Company Llmlted by Guarantee Trustees. Annual Report (Incorporating the Dlrectorfs Report) (¢ondnu¢dJ Year ended 31 March 2024 Trustee Induction and Trainin Most trustees familiarise themselves with the practical worf( of the charity by undertaking a tour of the Advice Centre and the Outreach Work. Additionally. new trustees attend briefing sessions on the Charity and the context within which il operates. These are led by the Chair of the Management Committee an(Vor the Dir8Ctor of the charity and er. The obligations of Management Committee members The main documents which set out the operational framework for the charity including the Memorandum and Articles Resourcing and the current financial position as set out in the latest published accounts Publications from the Charity Cornniission relating to the roles and responsibilities of trustees Future plans and objectives Ongoing training is encouraged and regular policy days are held to ensure the Business Plan is delivering and on target. A Trustee Induction Pack is provided.
North Bristol Advice Centre Company Limited by Guarantee Trustees. Annual Report (Incorporating the Directorfs Report) (¢ontlnued) Year ended 31 March 2024 ObJe¢tlves and activities oses and Aims Located in Lockleaze. Brfstol. North Bristol Advi Centre (NBAC) Is a communlty-based advice centre. It is a registered charity and a company limtied by guarantee. Our charity's objects a. to assist in the promotlon of any charitable purposes for the benefrt of the inhabitsnts of North Bristol and South Gloucestershire areas by the provision of free and independent advice and support, especially in relation to access to Welfa beneffts and managing personal debt: and to advance education and provide training and other services that support and strengthen the Skills, health and wellbeing of the said inhabitants. The aims of the charity are to promote social justice arKI combat poverty by providing free and independent advice and support that enables people to develop skills, improve wellbeing and make positive changes in their lives and communities. Our activities We help people at times of crisis. work to address the causes of deprivation and support people to take practical steps to improve their situation in the longer term. The activities we provided to meet our objectives included: Free. confidential and independent advice services, including welfare beneffts and debt advice, complex casework and representation at tribunal. Digital inclusion work lo IncaSe digital skills. improve access to online tools and services and increase financial and social inclusion. Home-visiting advice services for older people to maximise income and help thern remain independent in their homes. North Bristol Advice Centre has been sepding the communities of North Bristol and South Gloucestershi for 40 years. The hallmark of its work has been high levels of professionalism. delivering a quality service and listening to and responding to communty needs. Underpinning the day to day work has been the long temi dedication and commitment of the Board of Trustees which has always worked to support the team and ty as far as possible to anticipate and prepare for the future. The Board regularly reviews the perf0rnan of the various services we offer. as vrfell as monitoring and evaluation data to help us to continually develop. improve and innovate.
North Bristol Advice Centre Company Llmlted by Guarantee Trustees. Annual Report (Incorporating the Directofs Report) (contlnu8dJ Year ended 31 March 2024 Revlew of 2023124 Demand for advice seNices mained high as people impacted by the continued high cost of living sought help to manage their financial difficulties. Clients continue to present with complex issues requiring multiple interventions and longer-terni support. Our priority was to maintain quality services and do all we could to support people in financial hardship. In order to meet the challenge of managing high demand with limited resources, we looked toward innovation and collaboration to develop our advice services in a way Ihat is sustainable and meets the needs of people in our communities. Innovation to develo our communi -based advice services NBAC ran a pilot projed working with Kingsmeadow@Made4ever in South Gloucestershire to ccFlocate our Welfare Benefrts advice worker within their setting. Staff were trained to ident advice issues and help with fomi filling, as well as provide confidence-building support to dients to act on advice. A mini evaluaiion of the pilot shows it was successful in reaching vulnerable people who would not otherwise access advice. We delivered tailored talks to 10 older people's groups, going into communities where there was low take up of benefits, responding to feedback from community leaders and workers. Over 165 people attended. The aim was to empower older people reluctant to claim benefrts to better understand the benefrts system. their entitlements. understsnd where they can get help and support them to apply for benefits that will improve their financial situation. Collaboration and Partnershi NBAC is part of the Bristol Advice Partnership (BAP) and the South Gloucestershire Advice Service (SGAS). comprised of the main advice agencies in Bristol and South Gloucestershire respectivety. working in partnership to provide advice across communities. Through BAP NBAC worked in partnership with Bristol City Council and other advice agencies in the city to deliver additional advice under the Household Support Fund. The funding enabled us to increase our complex casework capacity. We worked with Housing Matters to devek)p our priority referral system. This improved the client joumey for NBAC welfare beneffts and debt clients with a housing issue. as well as Housing Matters clients needing specialist advice.
North Bristol Advice Centre Company Llmlted by Guarantee Trustees. Annual Report (Incorporating the Directorfs Report) (contlnu•dJ Year ended 31 March 2024 We continued to work in partnership with Bristol Northwest Foodbank. delivering weekly face-to-face debt advice in Avonmouth. the most isolated ward in north Bristol. NBAC continued to work with the Centre for Sustainable Energy as part of the rnulti-agency WHAM project providing, holistic support to people in fuel poverty and financial hardship. We developed a Digital Outreach Service (Bristol Tea and Tech) working with partners in Communty settings across north Bristol to bring digital support into communilies to combat digital exclusion. NBAC continued to be a key partner in ACFA ffhe Advice Network), the for independent advice agencies across the West of England. This year ACFA focused on the improvement of infrastrudure support (eg training and networks) and the development ACFA'S strategic plan, in particular engaging with health services and the Integrated Care System.
North Bristol Advlce Centre Company Limited by Guarantee Trustees. Annual Report (Incorporating the Directorfs Report) (¢onllnuedJ Year ended 31 March 2024 hievements and performance How our actlvltles deliver public benefrt. Our main activities and who we support are described below. Full details on how our services benefft clients, including client stories, can be viewed in our Impact Report. available on our website. Who used and benefrted from our services? We supported 2114 people Imng in deprived communwties across North Bristol and South Gloucestershire. 29Ytr of advi Clients suffered from mental ill health arKI one quarter were physically disabled. Just under half were unfit to work and 65°A were living in social housing or rented accommodation. One third were BAME. speaking 28 different languages. People sought our support due to the Cost of Living Crisis as well as unexpected changes of circumstance such a5 unemployment. long term illness, bereavement or disability which plunge them into sudden and severe financial difficulties. Others need access to justice having been denied benefrts thelre entitled to or need tegal support to challenge decisions of the local authonty. DWP and HMRC. The deniand for Gomplex casework for both welfare benefits and debt remains high. For our digital inclusion work, the majority of Get Online attendees {71°h) were over 55. with 250A from BAME communities and 37.kn disclosing a physical andlor rnental disability. 22 % did not have internet access in their homes. while 15Yo had never used the intemet before. Advice seNices NBAC provides specialist welfare benefits and debt advice. Some 60% of this is specialist legal advice made up of end-to-end casework and appeals support. including representation at tribunal. 4451 enquiries handled by our admin team 1992 people received one-tLwne advice support 362 people at risk of homelessness kept in housing £1,823,070 was raised for clients £4,073,882 in debt was managed 9410 success rate at appeal Advice clients (143 questionnaires completed at case closed) reported that. as a result of our advice and support.. 87 /0 were in a better financial siiuation 83°/0 were less stressed 84 /0 felt better able to manage their affairs 780/0 had improved understanding of their legal rights Over half of clients contacted three months after case closed (108 replies) said there had been long term changes in their lrfe as a result of our advice: 780/0 hav8 b88n able to budget and plan their expendtiure 300/0 spent increased income on more or better food 680/0 feel more in control of their finances now
North Bristol Advice Centre Company Limtted by Guarantee Trustees, Annual Report (Incorporating the Directorfs Report) (conLlnu•dJ Year ended 31 March 2024 Our professional advisers were supported by a team of trained and dedicated Advice Support Volunteers who provided one-toone support to people at the start of their claim Joumey. They help clients to understand how the claims ProS8 works, what sort of evidence they need to gather, appropriate infomiation to include on their application form. and help them to complete complex benefft forms. They also pick up on where clients might need other help and signpost thern. This eady intervention work helped ensu vulnerable people secured their legal entitlements. preventing financial problems developing or escalating. Volunteers also complete charity applications for white goodslbedslcarpets for those most in need. Home ViSn Advice Service A total of 61 older people were supported through our home vistbng seTwce. with £118,792 in income raised. This service is for those who cannot access advice services due to disabilty, poor health conditions or mobilty problems. Our caseworker helps clients to maximise their income so they can access extra support for daily living. increase food and heating and stay independent in their homes. Home visits allows our adviser to pick up on other issues {e.g. cold homes. adaptation n8eds) and link them with local services. Get Online In addition to our weekty Lockleaze drop-in. our Bristol Tea and Tech pilot project delivered 46 outreach sessions in 8 communty setttngs. supporting 138 people. Wee continued Ihis outreach work from January. enabling us to ¢onlinue reaching the most excluded across north Bristol. Clients were supported to fill out forms: use Microsoft office; set up and use email. transfer data,. solve issues with their own devices" download andlor remove apps; use search engines" access govemment websites: learn to shop online. use translation tools: access online leaming. 122 people received digital support 133 sessions held in Lockleaze and across North Bristol 559 foot-fall at drop-in and outreach 90Vo of attendees can get online independently as a result of attending drop-in
North Bristol Advice Centre Company Limited by Guarantee Trustees. Annual Report (Incorporating the Directorfs Report) (conllnuad) Year ended 31 March 2024 Flnanclal review During the year, we were On again successful in raising funds, with income from donations, charitable trusts and grants generating £571.810 (2023: £535,798) while expenditure was £539,810 (2023: 480,105). There was a sutplus of £32.000 {2023: £55,693). Princi al Fundin Sources Our main core funding came from Bristol City Council. South Gloucestershire County Council, Money and Pensions Service {MaPS). the Henry Smith Charity. Nisbet Trust. Garfield Weston. The Access to Justice Foundation and Quartet Communty Foundation. We were also supported by a range of charitable trusts and individual donors. Wrthout their support we woukl not be able to deliver the current level and quality of services to local communities. Our fundraisin NBAC does not actively fundraise from the publi¢. The Management Committee were pleased to receive unsolicited donations from clients and supporters. Our one fundraising activity is the Bristol Legal Walk; staff and volunteers raise sponsorship money while raising awareness of the free legal adwce sector, though this did not take place this year. Investment lic NBAC is in the fortunate position of owning ils building. This property represents the charity's most substantial asset. and is a good long temi investment. CAF Bank deposit account provides a source of ethical investmant armd interest. We also have savings with Cambridge & Counties Bank. Reserves The Management CommTrttee has examined the Gharity's requirements for reserves in light of the main risks to the organisation. It has established a policy whereby the unrestricted funds not committed or invested in tangible fixed assets held by the Gharity should be between 3 and 6 months of the expenditure, which currently equates to £125.000 to £250,000. 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. allowing time to secure altematrve funding or make changes. The current level of general reserves is £202.310 for running costs. We have further reserves held as capital within the building and other fed assets lotalling £208.621. The charity currentty has a designated serve of £50.000 to cover the cost of potential staff redundancies, sickness and maternity pay. There is a fvrther £10.000 designated reserve for building maintenance. The Management Committee aims to continue building the level of reseNes in line with policy, to achieve a level which they feel is adequate to meet the organisational needs. The Management Commtttee keep the reserves policy under review (it was last revised and approved in Decemb8r 2023).
North Bristol Advice Centre Company Limited by Guarantee Trustees. Annual Report (Incorporating the Directorfs Report) (¢tintinuedJ Year ended 31 March 2024 Priorities for the ear ahead Use leaming from Extemal Evaluation to develop and improve advice services. Increase outreach work in communilies. working dosety wtth communty partners. Improve access to advice for the most vulnerable by increasing fao-to-face access through drop-ins. Use leaming from our digital outreach pilot to develop our digital inclusion work and reach more people across north Bristol. Be a data curious organisation. working with data partners to leam more from the data we collect to improve services and promote evidence-based decision making and development. Promote wellbeing for all staff and volunteers wtihin NBAC in a proactive way that helps to embed wellbeing in our ethos, culture and ways of working. Maintain and develop relationships with local and national trusts and foundations that share our ethos. securing the long term funding needed to deVep and deliver seNices that help make change. Use leaming. research and engagement to develop our long term strategic plan from 2024. Work with ACFA, key agencies and stakeholders to increase strategic engagement and influence policy locally and national Risk mana ement The Management Committee has conducted a review of the major risks to which the charity is exposed. A risk register has been established and is updated at least annually. Where appropriate. systems or procedures have been established to mitigate the risks the charity fa5. Significant external risks to funding have led to the development of a funding strategy which will allow for the diversification of income streams. Intemal rnntrol risks a minimised by the implementation of procedures for authorisation of all transactions and projects. PrOdureS are in place to ensure compliance with health and safety of staff. volunteers. clients and visitors to the centre. Related Parties In so far as it is complementary to the charitys objects. the chaiity is guided by both local and national F)olicy. NBAC works in partnership with other local and cty wde professional agencies to ensure a range of complimentary services. We are aware of national developments which could have an impact on our service, for example ongoing Govemment changes to social Welfa law and the welfare state. 10
North Bristol Advlce Centre Company Limited by Guarantee Trustees. Annual Report (Incorporating the Directorfs Report) fcondnu•d) Year ended 31 March 2024 Small company provisions This report has been prepared in accordance wilh the provisions applicable to companies entitled to the small companies exemption. The trustees, annual report was approved on 22 October 2024 and signed on behalf of the board of trustees by= S Edmunds Trustee 11
North Bristol Advice Centre Company Limited by Guarantee Independent Examinerfs Report to the Trustees of North Bristol Advice Centre Year ended 31 March 2024 I report to the trustees on my examination of the financtal statements of North Bristol Advice Centre {'the charity) for the year ended 31 March 2024. Rosponsibllitles and basis of report As the trustees of the company {and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance wtth the requirements of the Companies Act 21x16 (Yhe 2006 ACY). 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 the 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 examinorfs statomeTrt Since the charity's gross income exceeded £250.000 your examiner must be a member of a body listed in section 145 of the 2011 Act. l Confimi that l am qualtfied to undertake the examination because l am a member of the Inslitute of Chartered Accountants in England and Wales (ICAEW), 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: accounting records were not kept in respect of the charity as required by section 386 of the 2006 Act" or Ihe financial statements do not accord with those records: or the financial statements do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a 'twe and fai¢ view which is not a matter considered as part of an independent examination. or the financial statements 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 wilh the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). 12
North Bristol Advice Centre Company Limited by Guarantee Independent Examiner's Report to the Trustees of North Bristol Advice Centre (Mntinuedj Year ended 31 March 2024 I have no concems 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. Mr Jonathan Rhodes Bsc BFP FCA Independent Examiner 24 Bridge Street Newport South Wales NP20 4SF 22 October 2024 13
North Bristol Advice Centre Company Limited by Guarantee Statement of Flnancial Activities (including income and expenditure account) Year ended 31 March 2024 2024 Restricted fvnds Total funds Total funds 2023 Unrestricted funds Income Donations and legacies Charitable activities Other trading activities Investment income Other income 4.632 157.824 10.054 7.021 6,242 4,632 543,861 10,054 7.021 6.242 5.113 515,738 8.900 2,728 3,319 386.037 Total income 185.773 386.037 571.810 535,798 Expenditure Expenditure on charitable activities Total expenditure 153.773 386,037 539,810 539.810 480.105 153.773 386.037 480,105 Net income and net movement in funds 32.000 32.000 55,693 R•conclllatlon of funds Total funds brought fOard Total funds urried forward 471,201 9.197 480.398 424.706 503.201 9,197 512,398 480,398 The statement of financial activities includes all gains and losses recognised in the year. Al income and expenditure derive from continuing activities. Tho not•s on pages 18 to 31 forni part of these financial statemonts. 14
North Bristol Advice Centre Company Llmlted by Guarantee Statement of Financial Posltlon 31 March 2024 2024 2023 Flxed assets Tangible fixed assets 18 208.621 216.225 Current assèts Debtors Cash at bank and in hand 19 19.613 361.008 8,084 343.756 380.621 351.840 Credltors: amounts falling due wfthin one year Net current assets 20 76,844 87,666 303.777 264,174 Total assets less current liabllllies 512.398 480.399 Not assots 512.398 480,399 Funds of the charlty Restricted funds Unrestricted funds- Revaluation reserve Other unrestricted income tunds 9.197 9,197 10.000 493.201 10.000 461.201 Total unrestricted funds 503,201 471,201 Total charity funds 23 512,398 480,398 For the year ending 31 March 2024 the charity was entit to exemption from audit under section 477 of the Companies Act 2006 lating to small companies. Directors. responsibilities: The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476" The directors acknowledge their responsibilities for comptying with the requirements of the Act with respect to accounting records and the preparation of financial statements. These financial statements have been prepared in a¢¢ordance with the provisions applicable to companies subject to the small companies. regime. The statement of financial position continues on the following page. The n¢)tes on pages 18 to 31 fomi part of these financial ststemonts. 15
North Bristol Advice Centre Company Limited by Guarantee Statement of Financlal Position {¢ondnu 31 March 2024 These financial statements were approved by the board of trustees and authorised for issue on 22 October 2024, and are signeil on behaff of the board by.. S Edmunds Trustee The notes on pages 18 to 31 forni part of these financial slatsments. 16
North Bristol Advice Centre Company Llmlted by Guarantee Statement of Cash Flows Year ended 31 March 2024 2024 2023 Cash flows from operatlng activitles Net income 32.000 55,693 Adjustments for.. Depreciation of tangible fixed assets Other interest receivable and similar income Interest payable and similar charges Accrued {in¢omeyexpenses 8,997 (7.021) 11.165 (4.917) 8,649 {2,728) 6,595 4,778 Changes in." Trade and other debtors Trade and other creditors (6.529) (10.906) 22.789 6,370 13,736 Cash generated from operations 93,093 Interest paid Interest received (11.165) 7.021 (6.595) 2.728 Net cash from operating activities 18,645 89,226 Cash flows from investing aclivitles Purchase of tangible assets Nel cash used in investing activities (1.393) {1.393} Net increase in cash and cash equivalents Cash and cash equivalents at beglnning of year Cash and cash equivalents at end of year 17,252 343,756 89.226 254.530 361.008 343.756 The notes on pages 18 to 31 forni part of these finanGlal statemonts. 17
North Bristol Advice Centre Company Limited by Guarantee Notes to the Financial Ststements Year ended 31 March 2024 General Infomiatlon The charity is a public benefrt entity and a private company limited by guarantee, registered in England and Wales and a registered chaiity in England and Wales. The address of the registered office is 2 Gainsborough Square, Lockl&8ze. Bristol, BS7 9XA. Statement of Compliance These financial statements have been prepared in compliance with FRS 102. The Financial Reporting Standard applicable in the UK and the Republic of Ireland,. the 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) (Charities SORP (FRS 102)) and the Companies Act 2006. Accounting pollclo$ Basis of preparation The financial ststements have been prepared on the histofical cost basis, as modtfied by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through inGome or expendiiure. The financial statements are prepared in sterling. whith is the functional currency of the enttty. Golng con¢em There are no material uncertainlies about the charitys abilty to continue. Judgements and key sources of estimation uncertalnty The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements a continually reviewed and are based on experience and other factors. including expectations of future events that are believed to be asonable under the circumstances. Fund accounting Unrestricted funds are available for use at the discretion of Ihe trustees to further any of the chartvs purposes. Designated fvnds a unrestr5Cted fU[S 8amiarked by the trustees for particular future project or commitment. Restricted funds a subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal. and fall into one of two sub-classes: restricted income funds or endowment funds. 18
North Bristol Advice Centre Company Limited by Guarantee Notes to the Financial Statements {conth¥u•d) Year ended 31 March 2024 Accounting poll¢les (candnusd) Incoming resources l incoming resources are included in the statement of financial activities when entitlement has passed to the charity; il is probable that the economic benefrts associated with the transaction 11 flow to the tharty and the amount can be reliabty measured. The following specific policies are applied lo particular categories of income: Income from donations or grants is recognised when Ihere is evidence of entitlement to the gift. reipt is probable and its amount Can be measured reliably. legacy inGome is recogni5ed when receipt is probable and entitlement is established. income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliabty, in which case the value is derived from the c05t to the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received rf the value can be reliably rneasured. No amounts are included for the contribution of general volunteer5. income from contracts for the supply of services is recognised with the delivery of the contracled service. This is classified as unrestricted fvnds unless there is a contractual requirement for it to be spent on a particular purpose and reiumed rf unspent in which case it may be regarded as restricted. Resources expended Expenditure is recognised on an accruals basis as a liability is incurred. Expendtture includes any VAT which cannot be fully recovered, arjd is classtfied under headings of the statement of financial activities to which it relates: expenditure on raising funds includes the costs of all fundraising activities, events, non-charitsble trading activities, and the sale of donated goods. expenditure on charitable aclivities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the govemance of the charity apportioned to charitable activities. other expenditure includes all expenditure that is neither related to raising funds for the Gharty nor part of its expenditure on charitable activities. All costs are allocated to expenditure categories refiecting Ihe use of the resource. Direct costs attributable to a single activty are allocated directty to that activity. Shared costs are apportioned beeen the activities they contribule to on a reasonable. justifiable and consistent basis. Tanglble assets Tangible assets are initialty recorded at cost. and subsequently stated at cost less any accumulated depreciation and impainnent losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impaimient losses. 19
North Bristol Advice Centre Company Limited by Guarantee Notes to the Financlal Statements {¢onrfnu Year ended 31 March 2024 A¢¢ounting poli¢ies {eonrfnu•d) Tanglble assets (contlnuod) An increase in the carying amount of an asset as a result of a revaluation, is recognised In other recognised gains and losses. unless it reverses a charge for impairment that has previously been recognised as expenditure within the statement of financial activities. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other recognised gains and losses, except to which it offsets any previous revaluation gain, in which case the loss is shown within other recognised gains and k)sses on the statement of financial activities. Depreciation Depreciation is calculated so as to vuite off the cost or valuation of an asset. less its residual value, over the useful economic lrfe of that asset as follows: Freehold property Fixtures and fittings 2Q/o straight line 25.fi reducing balance Impalrnient of fix ass•ts A review for indicators of impainnenl is carrted oui at each reporting date. with the recoverable amount being estimated where such indicators exist. Vlhere the carying value exceeds the Coveble amount. the asset is impaired accordingly. Prior irnpairments are also reviewed for possible reversal at each reporting date. For the purposes of impaimienl testing. when it is not possible to estimate the recoverable amount of an individual asset. an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash infiov4S from other assets or groups of assets. For impainnent testing of goodwill, the goodwill acquired in a business combination is. from the acquisition date. allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination. Irspeive of whether other assets or liabilities of the Charity are assigned to those units. Flnanclal Instruments A financial asset or a financial liabilty is rewgnised only when the charity becomes a party to the contractual provisions of the instrument. Basic financial instruments are inttially recognised at the amount receivable or payable including any related transaction costs. Current assets and cuent liabilities are subsequently measured at the cash or other consideration expected to be paid or ceIVed and not discounted. Debt instruments are subsequenlly measured at amortised St. 20
North Brlstol Advice Centre Company Llmlted by Guarantee Notes to the Financlal Statements (contlnuod) Year ended 31 March 2024 Accountlng pollcles (condnu•d) Financial inslruments (¢ondnued) Where investments in shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in income and expendilure. All other such investments are subsequently measured at cost less irnpairment. Other financial instruments. including derivatives. are initially recognised at fair value, unless payment foi an asset is deferred beyond nonnal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments dtscounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value. with any changes recognised in the statement of financial activities. with the exception of hedging instruments in a designated hedging relationship. Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised under the appropriate heading in the statement of financial actrvities in which the initial gain was recognised. For all equty instruments regardless of significance. and other financial assets that are indivKlually signfficant. Ihese are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impaimiont are recognised immediatety. to the extent that the reversal does not resu in a carrying amount of the financial asset that exceeds what the carying amount would have been had the impaimient not previously been re¢ognised. Defined contribution plans Contributions to defined contribution plans are cOgnised as an expense in the period in which the related service is provided. Prepaid contributions are reo)gnised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash fund. When contributions are not expected to be settled wholty within 12 months of the end of the reporting date in which the employees render the related service. the liability is measured on a discounted present value basis. The unwitKling of the discounl is recognised as an expense in the period in which it arises. Limited by guarantee Every member of the Charty undertakes to contribute such amount as may be required {not exceeding £1) to Ihe Charitys assets rf it should be wound up while he or she is a member or within one year after he or she ceases to be a member. for payment of the Charitys debts and liabilities contracted before he or she ceases to be a member. and of the costs. charges and expenses of winding up. and for the adjustment of the rights of the contributories among themselves. 21
North Bristol Advice Centre Company Limited by Guarantee Notes to the Financial Ststements (¢ondnu6d) Year ended 31 March 2024 Donatlons and legacles Unrestricted Total Funds Unrestricted Total Funds Funds 2024 Funds 2023 Donations Donations Local Giving 4.632 4.632 1.894 3.219 1.894 3.219 4.632 4,632 5.113 5,113 Charltable actlvltles Unrestricted Funds Restrbcted Totsl Funds Total Funds Funds 2024 2023 Small Grants John James Bristol Foundation Henry Smith Charity Garfield Weston MaPS Grant Quartet Communty Foundation Van Neste Shire Bristol Wessex Billing WHAM Grant Access lo Justice - CIF IMA Grant The National Lottery Bristol City Council - IAG Bristol City Council - Cost of Living Bristol City Council- HSF Bristol City Funds BCH Health and Wellbeing The Dolphin Society South GloucesteT5hire CC - COL South Gloucestershire CC The Nisbet Trust St Monica Trust BNWFB Access to Justice - HALS Access to Justice - IOTLS Society of Merchant Venturers Thrive Bristol Communty Granl Forrester Family Trust BW Prom Society of Holy Child Jesus SGC Area Wide Bristol CPA 700 700 833 60,000 20,000 115.376 8.333 10,000 12,000 4.200 8.250 12.196 4.011 8.333 57.624 14.617 20.000 11,189 9,167 60.000 833 60.000 20.000 115.376 8.333 10.000 138.829 12.024 12.OlJO 4.200 12,000 8.250 13.725 12.196 4.011 8.333 8,319 51.624 57,624 17,979 14.617 20.000 5.340 10.000 20.000 5,340 10.000 20.000 34,604 16,500 16,660 19.901 12.500 51.883 17,347 5,000 34.604 16.500 34,593 20,000 3,340 11,408 25.000 16.660 19,901 12.500 51,883 4,167 5,850 16,667 3.000 20.000 1,500 7,010 157.824 386,037 543.861 515.738 22
North Bristol Advice Centre Company Llmlted by Guarantee Notes to the Financial Ststements (condnu Year ended 31 March 2024 Other tradlng actlvltles Unrestricted Total Funds Unrestricted Total Funds Funds 2024 Funds 2023 Room Hire 10,054 10,054 8,900 Investment incomo Unrestricted Total Funds Unrestricted Total Funds Funds 2024 Funds 2023 Bank interest receivable 7,021 7,021 2,728 2.728 Other income Unrestricted Total Funds Unrestricted Total Funds Funds 2024 Funds 2023 Advice Services Miscellaneous 5.368 874 5.368 874 2,045 1.274 2,045 1,274 6.242 6.242 3.319 3,319 23
North Bristol Advice Centre Company Limited by Guarantee Notes to the Financial Statements (conthiu Year ended 31 March 2024 10. Expenditure on charitable aclfvfties by fund type Unrestricted Restricted Total Funds Total Funds Funds Funds 2024 2024 Charitable activities Support costs 150,611 3.162 379.269 6.768 529.880 9.930 473,510 6,595 153.773 386.037 539.810 480,105 11. Expendlture on charftable actlvltles by activlty type Activities undertaken Grant funding diredy of activities Support costs Total funds 2024 Total fund 2023 Charttable activities Govemance costs 523.697 6.183 529,880 9.930 473,510 6.595 9.930 523,597 6.183 9.930 539,810 480.105 Activities directly undertaken can be further analysed as: 2024 2023 Grants Wages and salaries Employerfs NIC Pension costs Other employmènt benefits Rates and water Light and heat Repairs and maintenance Insurance Other motorltravel costs Legal and professional fees Telephone other office costs Depreciation Finance costs Marketing and publicty Subscriptions and membership 6,183 365.814 23.566 10.877 5,492 2.330 4,837 17,515 2,228 2.546 11,978 11,882 47.933 8,997 11.165 2,010 3,845 6,792 326,138 20,512 10,318 7,271 1,553 4,350 28.592 2.585 3.113 16.538 10.726 22.993 8,649 6.595 1.450 1.930 539,810 480.105 24
North Bristol Advice Centre Company Limlted by Guarantee Notes to the Financlal Statements (¢onUnuodJ Year ended 31 March 2024 12. Analysis of support costs Analysis of support costs activty 1 Total 2024 Total 2023 Finance costs Govemance costs 62 9.868 62 9.868 77 6,518 9.930 9.930 6.595 13. Analysls of granls 2024 2023 Grants to indivlduals Grants to individuals 6,183 6,792 Total granls 6.183 6.792 14. Net income Net income is stated after chargingl(crediting): 2024 2023 Depreciation of tangible fixed assets 8.997 8,649 15. Independent examination fees 2024 2023 Fees payable to the independent examiner for: Independent examination of the financial statements 2.202 2.118 16. Staff costs The total staff costs and employee benefrts for the reporting period are anatysed as follows: 2024 2023 Wages and salaries Social security costs Empk)yer contributions to pension plans Other employee benefits 365.814 23.566 10.877 5.492 326.102 20,512 10,319 7,271 405,749 364.204 25
North Bristol Advice Centre Company Limited by Guarantee Notes to the Flnancial Statements (conllnu Year ended 31 March 2024 16. Staff ¢osts (contlnued) The average head count of employees during the year was 17 {2023: 17). The average number of full-time equivalent employees during the year is anatysed as follows: 2024 2023 No. Number of staff - management Number of staff - administration Number of stsff - support workers 13 12 17 17 No employee received employee benefits of more than £60.000 during the year {2023: Nil). 17. Trustw remuneration and •xpenses No remuneration or expenses or oth8r beneffts from employment with the charity or a related entity were received by the trustees 18. Tangible fix•d ass•ts Freehold Fixtures and property fittings Total Cost At 1 April 2023 Additions 233.523 60.086 1,393 293,609 1,393 At 31 March 2024 233.523 61,479 295,002 Depreciation At 1 April 2023 Charge for the year At 31 March 2024 17.298 8.649 60.086 348 77.384 8.997 25.947 60.434 86,381 Carrylng amount At 31 March 2024 207.576 1.045 208.621 At 31 March 2023 216,225 216.225 19. Debtors 2024 2023 Trade debtors Pr@payments and a¢¢rued income 13.016 6.597 4,557 3.527 19,613 8.084 26
North Bristol Advice Centre Company Limited by Guarantee Notes to the Flnancial Statements (contlnuad) Year ended 31 March 2024 20. Credltors: amounts falllng due withln one year 2024 2023 Trade creditors A¢Gruals and deferred income Social securty and other taxes Other creditors 21,305 42,536 10,633 2,370 4,215 73.042 6.282 4.127 76.844 87,666 21. Deferred income 2024 2023 Amount deferred in year 40.334 70,924 22. Pensions and other post retlrement beneffts Dofin•d contrlbutlon plans The amount recognised in income or expendtture as an expense in relation to defined contribution plans was £10.877 (2023: £10.319}. 23. Analysis of charltable funds Unr•strlcted funds At In(Ye Expenditure 31 March 2024 At 1 April 2023 General funds Reseve for Redundancy and Sickness Reserve for Capital Expendtture Reserve for Building Repairs 170,311 50,000 240.891 10.000 185.773 (153,773) 202,310 50.000 240.891 10,000 471.201 185.773 (153,773) 503,201 At Expenditure 31 March 2023 M 1 April 2022 Income General funds Reseve for Redundancy and Sickness Reserve for Capital Expenditure Reserve for Building Repairs 114,618 50.OIXJ 240.891 10.000 199.143 (143.45) 170,310 50,000 240.891 10.000 415.509 199.143 {143.451) 471,201 27
North Bristol Advice Centre Company Limited by Guarantee Notes to the Financlal Statements fcontlnu•d) Year ended 31 March 2024 23. Anatysls of charltsble funds {confrnuedJ Restrlctsd funds At Income Expenditure 31 Mah 2024 At 1 April 2023 John James Bristol Foundation BNWFB Bristol City Funds BCH Health and Wellbeing Henry Smith Charity MaPS Grant Quartet Communty Foundation Van Nesle The National Lottery st Monica Trust MaPS Grant Redundancy South Gloucestershire CC - Cost of Living Thrive Bristol Cornmunty Grant WHAM Grant IMA Grant Bristol City Council - HSF Bristol City Council - Cost of Living SGC Area Wide BW Prom The Dolphin Society Access to Justice - HALS Access to Justice - IOTLS 833 19.901 {833) (19,901) 5,340 60,000 115,376 8.333 10.000 8.333 16.660 {5,340) {60.000) (115.376) (8.333) (10.000) (8,333) (16,660) 9.197 9,197 20.000 (20,000) 8.250 4.011 20.000 14.617 (8,250) {4,011) (20,000) (14.617) 10.000 12.500 51.883 (10.000) (12.500) (51,883) (386.037) 9.197 386.037 9,197 At Expenditure 31 Mar¢h 2023 At 1 April 2022 Income John James Bristol Foundation BNWFB Bristol City Funds BCH Health and Wellbeing Henry Smith Charity MaPS Grant Quartet Communty Foundation Van Neste The National Lottery St Monica Trust 13.334 11,408 (13,334) (11,408) 29.371 60.000 138.829 (29.371) (60.000) (138,829) 3,340 (3,340) 28
North Bristol Advice Centre Company Limited by Guarantee Notes to the Financial Statements (condn Year ended 31 March 2024 23. Anatysis of charitable funds (eontlnuodj MaPS Grant Redundancy South GIoUsterShIre CC - Cost of Living Thrive Bristol Community Grant WHAM Grant IMA Grant Bristol City Council- HSF Bristol City Council - Cost of Living SGC Area Wide BW Prom The Dolphin Society Access to Justi - HALS Access to Justice - IOTLS 9.197 9,197 5.850 13.725 8,319 (5,850) (13.725) (8.319) 17.979 1.500 3.1)00 5,000 25.000 (17.979) (1.500) (3,000) {5.IX)O} (25.000) 9.197 336.655 {336.655) 9,197 Purpose of restricted funds 2023124 BNWFB - towards delivery of debt advice services at Bristol Northwest Foodbank in Avonmouth. BCC Cost of Living - extension of COL project. increasing complex casework ¢apacty. BCC Household Support Fund - part of ¢ty-wide partnership to increase access to advice services by increasing complex casework capa¢ity and priority referrals Wrth Housing Matters. The Dolphin Society- 3-year granl supporting our Home Wl11n9 Advi SeNice. Henry Smlth Charlty - this grant wa5 awarded towards the salary and running costs of our advice services. IMA- funding towards our debt work and debt relief orders. John James Brlstol Foundatlon - awarded towards non salary operational Gosts. MaPS - funding of our main debt Servi and the provision of face to face debt advice. MaPS redundancy reserve - this money is for the provision of redundancy as full and final settlement of all of MAS'S obligations under the funding agreement it has with NBAC. The National Community Lottery- Awards 4 All - towards the core costs of our advice services, supporting people in response to the cost of l1vir crisis. South Glou¢estershlre CC - Cost of Living Grant - to increase advice capacity to support more South Gloucestershire residents impacted by the cost of living crisis. Brlstol Clty FundslBCH Health and Wellbeing - towards our Get Online project to develop our digital inclusion work while creating new income streams to improve resilience. 29
North Bristol Advice Centre Company Limited by Guarantee Notes to the Financial Ststements {conrfnu•d) Year ended 31 March 2024 23. Analysls of charitable funds (conllnu¥d) Quartet Community Foundation - Catslyst Grant - towards our projed providing advice support to older people on low incomes through Olrtreach sessions and direct support to secure legal entidements and maximise incorne. Th• Access to Justice Foundation - HALS - towards the core costs of our legal advice services. The Access to Justice Foundation - IOTLS - towards our triage and outreach services. providing early intervention legal advice support to vulnerable residents. St Monica Trust- grant for our Bristol Tea and Tech Outreach projecL working with community partners to take digital support into community settings. Van Neste Foundation - towards our specialist advice SeNiS to help people in north Bristol facing a cost of living crisis. WHAM - part of a partnership project, providing advice to residents struggling with high fuel bills, referred by the Centre for Sustainable Energy. the lead partner. Purpose of Designated Funds Building Repairs Reserve - this reserve has been estsblished to set aside funds for future repairs and maintenance on the building. Redundancy and Sickness ReseNe - this reser¥e has been set up to cover the cost of potential redundancies. sickness and matemity pay. Capital Expenditure Reserve - this reserve represents the capital assets value owned by the charty that do not make up part of the charitys free reserves. 30
North Bristol Advice Centre Company Limited by Guarantee Notes to the Financial Statements {contlnu•d) Year ended 31 March 2024 24. Analysis of net assets between funds Unrestricted Total FurKIs Funds 2024 Tangible fixed assets Gurrent assets Creditors less than 1 year Net assets 208,621 380.621 (76.844) 512.398 208,621 380.621 {76.844) 512,398 Unrestricted Total Funds Funds 2023 Tangible fixed assets Current assels Creditors less than 1 year Not assets 216.225 351.840 (87.666) 480.399 216,225 351,840 (87,666) 480,399 25. Anatysls of changos in net debt At At 1 Apr 2023 Cash flows 31 Mar 2024 Cash at bank and in hand 343.756 17.252 361,008 31