| Contents | Page | ||
|---|---|---|---|
| Reference and Administrative Information |
|||
| Report ofthe Trustees | (incorporating | the Directors' Report) | 3-21 |
| Independent Auditor's |
report | 22- 24 | |
| Statement of Financial |
Activities | 25 | |
| Balance Sheet | 26 | ||
| Statement ofCash flows | 27 | ||
| Notes to the Financial | Statements | 28-39 |
| Case Details | Matter Category | Total |
|---|---|---|
| Housing | 2,145 | |
| Welfare Benefits | 2,011 | |
| Universal Credit |
1,293 | |
| Debt | 1,281 | |
| Employment | 412 | |
| Immigration -Asylum |
357 | |
| Family | 326 | |
| Legal | 310 | |
| Utilities and Communications | 155 | |
| Consumer/General | Contract | 152 |
| Travel, Transport | and Holidays | 1123 |
| Health and Community | 117 | |
| Financial Products | and Services | 74 |
| Tax | 50 |
| Funder | Purpose | Amount | ||||
|---|---|---|---|---|---|---|
| LBL | Cost of Living Cdsis funding-full advice and outreach |
f198,000 | ||||
| Cost of Living Crisis funding-full advice and building referrals communi artners |
with | 640,000 | ||||
| LBL/NHS | Additional funding -to help alleviate winter demand on health |
services | 930,000 | |||
| Phoenix | Debt advice | E30,000 | ||||
| National | CitA | Grant in relation to the supporting financial advice which was used support our Debt projects with admin support to generate appointments |
to | 515,000 | ||
| National | CitA | Help to Claim Project -The grant agreement is for 12months, from April 2022, with an option to extend for 12months. |
starting | B477,495 | ||
| Toynbee | Hall | Debt Advice/ Debt Free London. The contract is for 10months with possibility ofextension. |
f 216,694 | |||
| HLA's | 4 Honorary Legal Advisors continue to volunteer in the service to provide 50free legal appointments every month. |
adding | up | Pro bono. |
| Total | Total | |||||
|---|---|---|---|---|---|---|
| Unrestricted | Restricted | funds | funds | |||
| Note | funds | funds | 2023 | 2022 | ||
| f. | 6 | |||||
| Income from: | ||||||
| Donations and legacies |
343 | 100 | ||||
| Charitable activities |
108,365 | 1,491,832 | 1,600,197 | 1,538,474 | ||
| Investment income |
2,428 | 2,428 | 18 | |||
| Other income | 554 | 554 | 10,000 | |||
| Total | 111,690 | 1,491,832 | 1,603,522 | 1,548,592 | ||
| Expenditure on: |
||||||
| Charitable activities |
6 | (107,233) | (1,507,591) | (1,614,824) | (1,547,533) | |
| Total Expenditure | (107,233) | (1,507,591) | (1,614,824) | (1,547,533) | ||
| Net Income/(expenditure) | 4,457 | (15,759) | (11,302) | 1,059 | ||
| before transfers | ||||||
| Transfers between |
funds | 16 | (26,463) | 26,463 | ||
| (22,006) | 10,704 | (11,302) | 1,059 | |||
| Other recognised | gains | |||||
| Actuarial gain on Pension fund |
20,411 | 20,411 | 13,671 | |||
| Net movement in |
funds | (1,595) | 10,704 | 9,109 | 14,730 | |
| Reconciliation of |
funds: | |||||
| Total funds brought forward | 347,037 | 347,037 | 332,307 | |||
| Total funds carried forward | 345,442 | 10,704 | 356,146 | 347,037 |
| Balance Sheet | a | s | at 31 March 2023 | ||||
|---|---|---|---|---|---|---|---|
| Note | 2023 | 2022 | |||||
| Fixed Assets | |||||||
| Tangible fixed assets | 12 | ||||||
| Current Assets | |||||||
| Debtors | 13 | 174,187 | 83,719 | ||||
| Cash at bank and in | hand | 630,855 | 558,172 | ||||
| 805,042 | 641,891 | ||||||
| Creditors: amounts | due | within one year | 14 | (338,565) | (164,112) | ||
| Net Current Assets | 466,477 | 477,779 | |||||
| Total assets less current liabilities | 466,477 | 477,779 | |||||
| Creditors —amounts | due | after more than one year | |||||
| Defined benefit pension | liability | 20 | (110,331) | (130,742) | |||
| Net Assets | 15 | 356,146 | 6347,037 | ||||
| Funds ofthe Charity | |||||||
| Unrestricted funds |
16 | ||||||
| General funds |
455,773 | 477,779 | |||||
| Pension Liability |
(110,331) | (130,742) | |||||
| Restricted Funds |
16 | 10,704 | |||||
| 356,146 | 6347,037 |
| Reconciliation ofnet income to net |
cash flow from | cash flow from | operating | operating | operating | activities: | |||
|---|---|---|---|---|---|---|---|---|---|
| 2023 | 2022 | ||||||||
| Net income for the reporting period (as per the Statement of Financial |
Activities) | 16 | 9,109 | 14,730 | |||||
| Adjusting for: |
|||||||||
| Depreciation charges |
|||||||||
| Dividends, interest and rent from investments |
(2,428) | (18) | |||||||
| (Increase)/Decrease in debtors |
(90,468) | P,507) | |||||||
| Increase/(Decrease) in creditors |
174,453 | 42,143 | |||||||
| Movement in pension scheme liability |
(20,411) | (13,671) | |||||||
| Net cash provided by operating activities: |
70,255 | 35,677 | |||||||
| Cash and cash equivalents carried |
forward | ||||||||
| Cash flows from Investing activities: |
|||||||||
| Dividends, interests and rents from investments |
2,428 | 18 | |||||||
| Purchases offixed assets |
|||||||||
| Net cash surplus after investing activities: |
2,428 | 18 | |||||||
| Change in cash and cash equivalents |
in the | reporting | period | 72,683 | 35,695 | ||||
| Cash and cash equivalents at the beginning |
ofthe reporting | period | 558,172 | 522,477 | |||||
| Cash and cash equivalents at the end ofthe mporting |
period: | 630,855 | 558,172 | ||||||
| Analysis of Net debt | At 01 | April | Cash | At 31 March | |||||
| 2022f | Flows | 2023 r. |
|||||||
| Cash in hand | 558,172 | 72,683 | 630,855 | ||||||
| 558,172 | 72,683 | 630,855 | |||||||
| Analysis of Net debt —prior year | At 01 | April | Cash | At 31 March | |||||
| 2021f | Flows r |
2022 6 |
|||||||
| Cash in hand | 522,477 | 35,695 | 558,172 | ||||||
| 522,477 | 35695 | 558,172 |
| Income from Cha | ritable | Activ | ities - curre | nt year | |||
|---|---|---|---|---|---|---|---|
| Unrestricted | Restricted | Total | Total | ||||
| 2023 | 2023 | 2023 | 2022 | ||||
| E | E | E | |||||
| London Borough of Lewisham | 650,000 | 650,000 | 868,272 | ||||
| LBLCrisis Funding | 30,000 | 30,000 | |||||
| DFL (formerly Capitalise) | 247,393 | 247,393 | 272,975 | ||||
| National CA - Help to Claim |
474,158 | 474,158 | 112,297 | ||||
| TFL - Legal Team | 40,417 | 40,417 | 42,500 | ||||
| Social Prescribing | 50,000 | ||||||
| SELCE | 23,265 | ||||||
| Downham Project |
Food | Bank | 7,500 | 7,500 | 7,500 | ||
| Test and Trace | 12,000 | ||||||
| KickStart | 2,096 | 2,096 | 12,217 | ||||
| ZIAPT (formerly IAPT) National |
CA | 8,268 | 8,268 | 11,542 | |||
| RCJ —Crisis Prevention | 16,000 | 16,000 | |||||
| Lewisham Council |
—Additional | Capacity | 16,000 | 16,000 | |||
| Pound Advice | 80,365 | 80,365 | 89,905 | ||||
| Phoenix Housing |
Association | 27,500 | 27,500 | 30,000 | |||
| Other small grants | 500 | 500 | 6,001 | ||||
| 108,365 | 1,491,832 | 1,600,197 | 1,538,474 | ||||
| ncome from Charitable | Activities- prior | year | |||||
| Unrestricted | Restricted | Total | |||||
| 2022 | 2022 | 2022 | |||||
| E | E | E | |||||
| London Borough of Lewisham |
868,272 | 868,272 | |||||
| Capitalise | 272,975 | 272,975 | |||||
| National CA - Help to Claim |
112,297 | 112,297 | |||||
| TFL - Legal Team | 42,500 | 42,500 | |||||
| Social Prescribing | 50,000 | 50,000 | |||||
| SELCE | 23,265 | 23,265 | |||||
| Downham Project |
Food | Bank | 7,500 | 7,500 | |||
| Test and Trace | 12,000 | 12,000 | |||||
| KickStart | 12,217 | 12,217 | |||||
| IAPT | 11,542 | 11,542 | |||||
| Pound Advice | 89,905 | 89,905 | |||||
| Phoenix Housing Association | 30,000 | 30,000 | |||||
| Other small grants | 6,001 | 6,001 | |||||
| 125,906 | 1,412,568 | 1,538,474 |
| Unrestricted | Restricted | Total | Total | ||||
|---|---|---|---|---|---|---|---|
| 2023 | 2022 | ||||||
| 6 | |||||||
| Bank Interest received | 2,428 | 2,428 | 18 | ||||
| 2,428 | 2,428 | 18 | |||||
| Totals | 2022 | 18 | 18 | ||||
| 5. | Other Income | ||||||
| Unrestricted | Restricted | Total | Total | ||||
| 2023 f |
2022 K |
||||||
| Sundry | Income | 554 | 10,000 | ||||
| 554 | 554 | 10,000 | |||||
| Totals | 2022 | 10,000 | 10,000 |
| Direct Costs | Support Costs | Total | Total | ||
|---|---|---|---|---|---|
| (note 7) | (note 8) | 2023 | 2022 | ||
| Information | and advice | 1,389,692 | 225,132 | 1,614,824 | 1,547,533 |
| Totals 2022 | 1,320,450 | 227,083 | 1,547,533 |
| nalysis ofDirect Costs | ||
|---|---|---|
| 2023 | 2022 | |
| Staff and volunteer costs | 1,160,163 | 968,092 |
| Partner payments | 106,124 | 248,753 |
| Office costs | 91,345 | 71,884 |
| Premises costs | 31,574 | 31,325 |
| Other costs | 486 | 396 |
| 1,389,692 | 1,320,450 |
| tes to the financial | statements for the year ended 31 |
March 2023-con | tinued |
|---|---|---|---|
| 8. Analysis ofSupport |
Costs | ||
| 2023 | 2022 | ||
| Staff and volunteer | costs | 147,343 | 136,515 |
| Office costs | 68,610 | 77,445 | |
| Premises costs | 499 | 924 | |
| Other costs | 1,667 | 1,970 | |
| Governance costs (Note 9) |
7,013 | 10,229 | |
| 225,132 | 227,083 | ||
| 9. Governance Costs |
|||
| 2023 | 2022 | ||
| Legal, Professional Audit |
and finance | 1,113 5360 |
4,890 5,280 |
| Trustee Board | 437 | 59 | |
| Other | 103 | ||
| 7,013 | 10,229 | ||
| 10.Net income forthe year | |||
| This isstated after charging: | 2023 | 2022 | |
| Auditor's remuneration |
5,360 | 5,280 | |
| 11.Information regarding |
Trustees, Directors and Employees | ||
| 2023 f |
2022f | ||
| Wages, salaries and Social security costs |
agency staff | 1,108,985 100,199 |
947,108 71,769 |
| Pension costs | 39,615 | 31,493 | |
| Redundancy costs |
13,009 | ||
| 1,261,808 | 1,050,370 |
| angible Fixed assets |
|||
|---|---|---|---|
| Computer | |||
| Equipment | |||
| 6 | |||
| Cost | |||
| Balance brought forward | and cerned forvrard | 4,878 | |
| Depreciation | |||
| Balance brought forward | and carried forward | 4,878 | |
| Net book value | |||
| As at 31 March 2023 | |||
| As at 31 March 2022 | |||
| Debtors | |||
| 2023 | 2022 | ||
| r | |||
| Trade debtors | 79,995 | 21,218 | |
| Prepayments | 14,444 | 12,546 | |
| Accrued income | 79,748 | 45,178 | |
| Other debtors | 4,777 | ||
| 174,187 | 83,719 |
| tors - amounts falling due within one year |
||
|---|---|---|
| 2023 | 2022 | |
| Trade creditors | 1,822 | 253 |
| Tax and social security | 39,664 | 18,877 |
| Accruals and Defened income | 252,349 | 139,181 |
| Other creditors | 44,730 | 5,801 |
| 338,565 | 164,112 |
| Deferred | Income | Income | 2023 | 2022 |
|---|---|---|---|---|
| 6 | ||||
| As at | 1 April | 7,500 | 216,683 | |
| Additions | during the year | 65,875 | 7,500 | |
| Amounts | released to income | (7,500) | (216,683) | |
| As at | 31 | March | 65,875 | 7,500 |
| )Analysi | s ofnet assets between funds | |||
|---|---|---|---|---|
| 2023 | ||||
| Unrestricted | Restricted | Total | ||
| Funds 6 |
Fundsf | Funds L |
||
| Tangible | fixed assets | |||
| Debtors | 1,444 | 172,743 | 174,187 | |
| Cash at | bank and in hand | 485,450 | 145,405 | 630,855 |
| Creditors | (31,121) | (307,444) | (338,565) | |
| Pension | Liability | (110,331) | (110,331) | |
| Total net | assets | 345,442 | 10,704 | 356,146 |
| )Analysi | s ofnet assets between funds | —prior year | ||
|---|---|---|---|---|
| 2022 | ||||
| Unrestricted | Restricted | Total | ||
| Funds | Fundsf | Funds f |
||
| Tangible Debtors |
fixed assets | 83,719 | 83,719 | |
| Cash at | bank and in hand | 558,172 | 558,172 | |
| Creditors | (164,112) | (164,112) | ||
| Pension | Liability | (130,742) | (130,742) | |
| Total net | assets | 347,037 | 347,037 |
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| otes to the financial statements | for | the y | ear ended | 31 March 2023 | —continued |
|---|---|---|---|---|---|
| Pension in payment increases of: |
|||||
| -CPI or 5% p.a. if less | 2.85% | 3.25% | |||
| -CPI inflation since retirement or 5%p.a. compound -CPI or 3%p.a. ifless |
if less | 2 85% 2.50% |
325% 2.70% |
||
| Commutation ofpension for cash at retirement |
75%of HMRC | 75% of HMRC | |||
| maximum | maximum | ||||
| As at | As at | ||||
| Assumed life expectancies on retirement |
atage | 65are: | 31/03/2023 | 31/03/2022 | |
| Retiring today - Males | 20.8 | 21.3 | |||
| Retiring today - Females | 23.6 | 24.2 | |||
| Retiring in 20 years time - Males |
22.0 | 22.6 | |||
| Retiring in 20 years time - Females |
24.7 | 25.7 | |||
| Value at | Value at | ||||
| 31/03/2023 | 31/03/2022 | ||||
| KOOOs | 8000s | ||||
| The assets in the Plan were: | |||||
| Multi asset funds Structured Equity Cash |
24,903 35,116 726 |
68,955 27,488 5,771 |
|||
| Fair value ofPlan assets | 60,745 | 102,214 | |||
| The actual return on assets over the period | was: | (37,084) | 5,301 | ||
| Present value offunded obligations Fair value of Plan assets |
111,169 60,745 |
148,768 102,214 |
|||
| Surplus/(deficit) in funded scheme |
(50,424) | (46,554) | |||
| Present value cf unfunded obligations |
|||||
| Unrecognised actuarial gains (losses) |
|||||
| Adjustment in respect ofasset ceiling |
|||||
| Net liability in balance sheet (of National |
Citizens Advice) | 50,424 | 46,544 | ||
| Reconciliation ofopening and closing value ofthe defined benefit obligation |
balances of | the present | 31/03/2023 8000s |
31/03/2022 6000s |
|
| Benefit obligation at beginning ofyear Current service cost |
148,768 832 |
161,415 771 |
|||
| Interest cost Contributions by Plan participants |
4,074 | 3,346 | |||
| Actuarial (gains)/losses Benefits paid and expenses Past service cost |
(35,041) (7,464) |
(11,745) (5,019) |
|||
| Settlements | |||||
| Business combinations | |||||
| Exchange rate | |||||
| Benefit obligation at end ofyear |
111,169 | 148,768 |
es to the financial statements for the y |
ear ended 31 | March 2023- | continued |
|---|---|---|---|
| Reconciliation ofopening and closing balances value of Plan assets Fair value of Plan assets at beginning of year Interest income on Plan assets Return on assets, excluding interest income Contributions by employers |
ofthe fair | 31/03/2023 KOOOs 102,214 2,801 (39,885) 3,079 |
31/03/2022 ROOOs 99,353 2,061 3,240 2,579 |
| Contributions by Plan participants Benefits paid and expenses |
(7,464) | (5,019) | |
| Business combinations | |||
| Settlements | |||
| Exchange rate |
|||
| Fair value of Plan assets at end ofyear | 60,745 | 102,214 | |
| The amounts recognised in profit orloss: |
31/03/2023 f000s |
31/03/2022 f000s |
|
| Service cost - including current and past service costs, |
|||
| and settlements Service cost-administrative cost Net interest on the net defined benefit liability |
832 1,273 |
771 1,285 |
|
| Total expense | 2,105 | 2,056 | |
| Remeasurements ofthe net defined benefit liability (asset) to |
31/03/2023 | 31/03/2022 | |
| be shown in Och |
6000s | 8000s | |
| Actuarial (gains)/losses on the liabilities Return on assets, excluding interest income Changes in the effect ofthe asset ceiling excluding |
interest income | (35,041) 39,885 |
(11,745) (3,240) |
| Total remeasurement ofthe net defined benefit |
liability | 4,844 | (14,985) |
| (asset) to be shown in OCI |