THE BASEMENT ADVISORY CENTRE ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2024 Company Registration No. 03642747 Charity Registration No. 1075052
THE BASEMENT ADVISORY CENTRE TRUSTEES, ANNUAL REPORT FOR THE YEAR ENDED 31ST MARCH 2024 The trustees are pleased to present Iheir annual report for the year ended 31 St March 2024. The financial statements comply with the Chariliesdd 2011, Companies Act 2006. Accounting and Reporting by Charities; Statement of Recommended Practice (SORP 2019) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) effective from 1 St January 2019. OBJECTIVES AND ACTMTIES The charity's objects are to provide a Drop In Centre, to relieve human suffering, hardship and distress amongst homeless people IrreSptive of colour. creed or class and for the following purposes:_ 1) To educate the public conceming the nature. cause and effects of homelessness. human suffering, poverty and distress. 2) To issue appeals, hold public meetings and take such proper steps as may be required for the purpose of promoting and publicising the objects of the charty and procuring contributions to its funds in the form of donations, subscriptions and otheThvise. 3) To communicate and co-operate with govemment and authorities, national, local or otherwise and to obtain from such bodies any rights. privileges and concessions for the attainment of the charitys objeds. We have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing our aims and objectives and in planning future activities. In particular, the trustees consider how planned activities will contribute to the aims and objectives they have seL ACHIEVEMENTS AND PERFORMANCE Charitable Activities The charity continues to reach out and respond to the needs of the homeless, who are amongst the most socially excluded and marginalised people in society. On the basis of 8mpowerment, the charity advocates for the rights of our service users and acts as a catalyst for change in an environment that provides a psychologically infonned and planned environment. The charity ensures that seNice users access the optimum support by working in partnership with other relevant agencies. The strategies employed to achieve the charivs objectives are to: Remove barriers so the socially exduded can access the services they need. Provide coaching to service users who request it. Provide services in The Basement for service users to access. Provide a drop in lounge for service user respite and acc8SS to support Provide kitchen facilities so that service users may prepare a meal for thomselves. Provide shower and laundry facililies to rough sleepers. Fundraising Activities The stat8ment of financial activities gives details of income and expenditure for this year.
THE BASEMENT ADVISORY CENTRE TRUSTEES, ANNUAL REPORT FOR THE YEAR ENDED 31ST MARCH 2024 The Basement continues to source funding from grant making trusts in order to develop and enhance the services currently available to service users. FINANCIAL REVIEW Total income for the year was £25,939 (2023: £70,693) of which £10.500 (2023: £24,455) related to funding for projects upon which restrictions are placed. Total expenditure for the year was £72,341 (2023: £72,573) leaving a deficit for the year of £46,402 (2023: deficit £1,880). At 318t March 2024 the charitable CoMpanS reserves stood at £12,479 (2023: £58,881) of which £64 (2023: £14) represented restricted fvnds. Risk Managament The main risks to which the charity is exposed as identffied by the Trustees have been considered and systems have been established to mitigate those risks. Reserves Policy It is the policy of th8 charitable company to maintain unrestricted funds, a level that covers redundancy provision and allows the charity to continue its activities for three months should no further funding be reived. As at the end of the financial year the unrestricted funds totalled £12,415. The charitable company requires a provision of £9,723 for three month's running costs & £999 redundancy costs (Total £10,722) Investment Policy and Objectives The trustees have the power to invest monies of the scheme, not immediately required for its pUose, in or upon such investments, securities or properties as may be thought fit, subject to such conditions (if any) as may for the time being imposed or required by law. PLANS FOR FUTURE The trustees aim is to focus on the development of the charity and enhancement of services on offer to hom8less people or those that are vulnerably housed. We will continue to work close5y with our existing partners and we aim to develop new partnerships. The plans for the year ahead are to continue to support service users by offering our Mindful Coaching Services Program. We will work with others to identify any gaps in provision and work with local agencies and funders so that the needs of our Servi users are met. We will continue to build meaningful and productive relationships to deliver appropriate crisis interventions, support, advice, and advocacy. We will continue to research services on offer in other regions and explore different models for meeting the needs of service users. STRUCTURE. GOVERNANCE AND MANAGEMENT The Basement Advisory Centre is a charitable MpanY limited by guarantee (registered in England and Wales, No. 03642747) ino)rporated on 1 St October 1998 and having registered as charity (nurnber 1075052) on 12th April 1999.
THE BASEMENT ADVISORY CENTRE TRUSTEES, ANNUAL REPORT FOR THE YEAR ENDED 31 MARCH 2024 ST The company was established under a Memorandum of Association which established the objects and powers of the company and is govemed by its Articles of Association. The Memorandum and Articles of Association were amended by Special Resolution on 28th January 1999. Governing document The Charitable Company is administered by a board of trustees. The board meets monthly and there are sub-committees covering p8rsonn81, fundraising and finance. A Business Development Director is appointed by the trustees to manage the day-to-day operations of the charity. To facilitate effective operations. the Business Development Director has delegated authority, within the terms of delegation approved by the trustees, for operational matters including financ8, employment and development of the project. Trustees, induction and tralning A skills audit ensures that recruitment of board members is targeted at people with skills relevant to the charity. New trustees undergo an orientation day to brief them on their legal obligations under charity and company law, the content of the Memorandum and Articles of Association, the committee and decision4naking processes. the business plan and recent financial perfonnance of the charity. During the induction day they meet key 8mployees and other twstees. Trustees are encouraged to attend appropriate extemal training events where these will facilitate the undertaking of their role.
THE BASEMENT ADVISORY CENTRE TRUSTEES. ANNUAL REPORT FOR THE YEAR ENDED 31ST MARCH 2024 REFERENCE AND ADMINISTRATIVE DETAILS Name The Basement Advisory Centre 03642747 Company Number Charity Number Reglstered Office 1075052 56 - 60 Parr Street Liverpool Merseyside, L14JN The Board of Trustees are also its Directors. Members are el8Cted by the Annual General Meeting of the members of the council in accordance with the Articles of Association. W R Christopher T K8nward D Lewis G Monaghan K Moores Board of Trustees Trustees Company Secretary Independent Examiner G Monaghan MTS Ying Huang. ACCA. LCVS, 151 Dale Street Ltverpool, L2 2AH HSBC Bank 99-101 Lord Street Liverpool Merseyside L2 6PG Bankers Slgned on behalf of the Board of Trustees on D Lewis, Trustee
THE BASEMENT ADVISORY CENTRE STATEMENT OF TRUSTEES, RESPONSIBILITIES Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the Charitable company as at the balance sheet date and of its incoming resources and application of reSoUrs, including income and expenditure, for the financial year. In preparing those financial statements, the trustees should follow best practice and: select suitable accounting policies and then apply them consistently; observe the methods and principle in the Charities SORP; make judgements and estimates that are reasonable and prudent; prepare the financial statements on the going concem basis unless it is inappropriate to presume that the company will continue as a going concem: state whether applicable accounting standards have been followed, subject to any materlal departure disclosed and explained in the financial ststements. The Trustees are responsibl8 for maintaining proper accounting records which disdose with reasonable accuracy at any time the financial position of the charitable company 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 charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. This report has been prepared in accordance with the Charities Act 2011, Companies Act 2006, Accounting and Reporting by Charities: Statement of Recommended Practice (SORP 2015) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) effective from 1st January 2019. Signed on behalf of the Board of Trustees D Lewis Trustee 56 - 60 Pa Street Liverpool Merseyside L14JN Date:
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE BASEMENT ADVISORY CENTRE I report on the accounts of the charitable company for the year ended 31st March 2024, which are set out on pages 7 to 17. The trustees (who are also the directors of the company for the purposes of company law) are responsible for the preparation of the accounts. The trustees consider that an audit is not required for this year under section 144(2) of lh8 Charities Act 2011 (the 2011 Act) and that an independent examination is needed. It is my responsibility to: examine the accounts under section 145 of the 2011 Act, to ft>llow Ihe procedures laid down in the general Directions given by the Charity Commission (under section 145(5)(b) of the 2011 Act, and to state whether particular matters have come to my attention. My examination was carried out in accordance with general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the tharity and a comparison of the accounts presented with Ihose records. It also includes consideration of any unusual items or disclosures in the accounts,and seeking explanations from the trustees COnmIng any such matters. The procedures undertaken do not provide all the evidence that would be required in an audiL and consequently no opinion is given as to whether the accounts present a Irue and fairf view and the report is limited to those matters set out in the statement below. Res res onsibilities of trustees and examin8r Basis of inde examinerfs statement Inde examinerfs statement In connection with my examination, no matter has come to my attention: (1) which gives me reasonable cause to believe that in, any material respect, the requirements: to keep ac(x)unting records in accordance with section 386 of the Companies Act 2006; and to prepare accounts which accord with the accounting records and comply with the accounting requirements of section 396 of the Companies Act 2006 and with the methods and principles of the Statement of Recommended Practice: Accounting and Reporting Charities have not been met; or (2) to which. in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached. Name: Mrs Ying Huang Relevant professional qualification or body: ACCA Address: clo LCVS,151 Dale Street. Liverpool, L2 2AH Dated: ..L)..3/.1112c3Jfr.......
THE BASEMENT ADVISORY CENTRE STATEMENT OF FINANCIAL ACTIVITIES (INCLUDING INCOME & EXPENDITURE) FOR THE YEAR ENDED 31ST MARCH 2024 Notes Unrestricted Restricted Funds Funds 2024 2024 Totsls Totals 2024 2023 Income and endowments from: Donations and legacies Charitable activities Other trading activities 1,140 3,590 10,709 1,140 14,090 10,709 27,341 25,651 17,701 3b 3c 10,500 Total income 15,439 10.500 25,939 70.693 Expenditure on: Charitable Activities 61,891 10,450 72,341 72,573 Total expenditure 61,891 10.450 72,341 72,573 Net incomel(expenditurn), net movement in funds 50 (46,452) (46,402) {1,880) Total funds brought fOard 58,867 14 58,881 60,761 Total funds carried forward 7-9 12,415 12.479 58,881 The notes on pages 9 to 17 fonn part of these accounts. All the above amounts relate to continuing activities of the charitable company. The statement of financial activities also complies with the requirements for an income and 8XP8nditure account under the Companies Act.
THE BASEMENT ADVISORY CENTRE BALANCE SHEET AS AT 31ST MARCH 2024 COMPANY NO. 03642747 Notes 31st March 2024 31st March 2023 Flxed Assets Tangible fixed assets 194 287 Current assets Debtors Cash at bank and in hand 15.245 62,471 15,245 62,471 Current Ilabilities Creditors: amounts falling due within one year (2.960) (3,877) Net current assots 12,285 58,594 Total assets less current liabilities 12,479 58.881 Funds: Unrestricted funds Restricted funds 12,415 58,867 14 12.479 58,881 These financial ststements have been prepared in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102). These accounts have been prepared in accordan with the provisions applicable to small companies subject to the small companies, regime and in accordance with FRS102 SORP. For the period covered by these accounts the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies. No members have required the company to obtain an audit of its accounts for the year in question in accordance with section 476 of the Cornpanies Act 2006. The trustees, who are the directors of the company, acknowledge their responsibility for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements. Signed on half of the Board of Trustees on l...F4q,)MkK'r..W24 D Lewis - Trustee
THE BASEMENT ADVISORY CENTRE NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31ST MARCH 2024 1. Limited Llabilty The charty is a company limited by guarantee. Each memberfs liability is limited to £10. 2. Accounting Pollcies Basis of accounting The accounts have been prepared under the historical cost convention with items recognised at cxjst or transaction value unless otherwise stated in the relevant note(s) to these accounts. The financial statements have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance wtth the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) effective from 181 January 2019 and Charities Act 2011 and the Compani8s Act 2006. The accounts are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £. The Charity has taken advantage of the provisions in the SORP for Charities applying FRS 102 Update Bulletin 1 not to prepare a Stat8ment of Cash Flows. Going concern At the tim8 of approving the accounts, the Trustees have a reasonable expectation that the Charitable Company has adequate resources to continue in operational existence for the foreseeable future. The Trustees have therefore adopted the going conrn basis of accounting in preparing the accounts. Fund accounting Unrestricled funds are the chaiity's free reserves available for the trustees to apply in accordance with the charitable company's chaiitable objectives. Restricted fvnds are subject to specffic restrictive conditions imposed by the donor. All restricted funds are accounted for as restricted income and expenditure for the PUTposes is charged to the fund. Income recognition All income is recognised once the charity has entitlement to the income, there is sufficient certainty of receipt and so tt is probable that the income will be received, and the amount of income receivable can be measured reliably. Donations and legacies comprise of donations and general grants which are recognised in th8 accounts when reived, with the exc8ption of known legacies which are accounted for when their receipt is certain. Income from charitable activities is recognised on an accruals basis except for grants receivable, which are recognised on the date on which their unconditional payment is confirmed by the donor. Income from other trading activities relates to rental income and is recognised when the amount is certain.
THE BASEMENT ADVISORY CENTRE NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31ST MARCH 2024 Expenditure recognitlon Liabilities are recognised as soon as there is a legal or constructive obligation committing the charitable company to that expenditure, it is probable that settlement will be required and the amount of the obligation can be measured reliably. All expenditure is accounted for on an accruals basis. All expenses, including support costs and governan costs, are alloGgt8d or apportioned to the applicable expenditure headings in the Statement of Financial Activities. Support and governance costs are applied to unrestricted funds unless specifically included in the restrictions, as specifsed by the donor. Expenditure on charitable activities relate to the operation of the charity comprising of direct charitable expenditure to meet the objectives of the charitable company. Support and governance costs relate to the management and operation of the organisation and also compliance with constitutional and statutory requirements in producing the annual report. These are dealt with in the Statement of Financial Activities when payment has been approved by the charitsble company. Fixed Assets Capital expenditure over £250 is stated in th8 balance sheet at cost less accumulated depreciation. Depreciation is provided to write off the cost of each asset over its expected useful life as below: Fixtures, Fittings & Equipment Improvements to Leasehold Property Cash and cash equivalents Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with Original maturities of three months or less, and bank overdrafts. 25% per annum reducing balance basis straight line basis over 3 years Financial instruments The charity has elected to apply the provisions of Section 11 'Basic Financial Instruments, and Section 12 '0ther Finanaal Instruments Issues, of FRS 102 to all of its financial instruments. Financial instruments are recognised in the charty's balance sheet when the charity becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financlal statements, when there is a legally enforceable right to set off the recognised amounts and ther8 is an intention to settl8 on a net basis or to realise the asset and settle the liability simultaneously. Bas(c flnancial assets Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at th8 present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised. 10-
THE BASEMENT ADVISORY CENTRE NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31ST MARCH 2024 Basic financial liabilities Basic financial liabilities. including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Financial liabilities dassified as payable within one year are not amortised. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Derecognition of financial Ilabilities Financial liabilities are derecognised when the chaiity's contractual obligations expire or are discharged or cancelled. Taxation Income and gains are exempt from taxation as they are received and applied for charitable purposes only. The charitsble company benefits from various exemptions from taxation afforded by tax legislation and are not liable to corporation tax on income 01 gains falling within those exemptions. Critlcal accountlng estimates and judgements In the application of the charitls accounting policies, the trustees are required to make judgements, estimates and assumptions about the carying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an on-going basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both cutrent and future periods. 3. Income and endowments from Unrestricted Restricted Funds Funds 2024 2024 Totsl Funds 2024 Totsl Funds 2023 a. Donations and legacies Donations 1,140 1,140 27,341
THE BASEMENT ADVISORY CENTRE NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31ST MARCH 2024 Unrestricted Restricted Funds Funds 2024 2024 Total Funds 2024 Total Funds 2023 b. Charitable activities Big Lott8ry Fund Grant- Awards for All Liverpool City Council- Community Resource Grant Room Hire Steve Morgan Foundation 3.030 10.500 10,500 3,590 10,500 1,196 10,925 3,590 3.590 10,500 14,090 25.651 c. Other tradlng actlvities Rental income 10,709 10,709 17,701 4. Expenditure on Charitable Activities Direct Support & Charltable Governance Expenditure Costs Total Total 2024 2023 To educate the public conceming the nature, case and effects of homelessness, human suffering, poverty and distress. 61.989 10,352 72,341 72,573 . Analysed as follows: 2024 2023 Direct chantable expenditure." Staff salary costs Pension Building Running costs 36,800 730 24,459 44,862 971 13,576 61,989 59.409 2024 2023 Support & Govemance costs.- Office costs Travel expenses Training Insurance Donation 5,886 58 6,333 25 2,221 1,629 216 1,452 12-
THE BASEMENT ADVISORY CENTRE NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31ST MARCH 2024 Continuation Support & Governan costs." Activities Bank fees Refreshments Subscriptions Legal and professional fe&s DBS fees Payroll fees Accountancy Loss on Disposal of fed assets Depreciation 71 62 774 61 681 251 49 16 540 1,265 29 489 1,200 96 10,352 13,164 Total expenditure on charltable actlvities 72,119 72.573 £10,450 (2023: £28,320) of the above expenditure relates to restricted funding. b. Analysis of staff costs 2024 2023 Gross Wages Social Security Costs Pension 36,800 44,862 730 971 Total 37,530 45.833 c. Particulars of employees: The average number of employees during the year, calculated on the basis of full-time equivalents, was as follows: 2024 2023 Charitable activities Staff No employee received emoluments of more than £60,000 during the year (2023: nil) The Trustees, being also directors, are not remunerated for their services and are not included in the above number of employees. No out4)f-pocket expenses were reimbursed to tfustees in the year (2023: £nil) 13
THE BASEMENT ADVISORY CENTRE NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31ST MARCH 2024 5. Tangible fixed assets Fixtures, Fittings & Equipment Improvements to Leasehold Property Total Cost Balanc8 at 1st April 2023 Additions Disposal 38.849 282.194 321 ,043 (1.610) (1,610) Balance at 31st March 2024 37.239 282.194 319,433 Accumulated Depreciation Balan at 1st April 2023 Charge for the year Disposal 38,562 282,194 320,756 (1,581) (1,581> Balance at 31st March 2024 37,045 282,194 319,239 Net Book Value at 315t March 2024 194 194 Net Book Value at 31st March 2023 287 287 A deed of assignment of beneficial interest dated 29th January 2016 has been declared stating a one third ownership of 56 - 60 Parr Street Liverpool. Valuation of which cannot be ascertained. 6. Creditors: amounts falling due within one year= 2024 2023 Accruals Social Security costs 2.649 311 3,566 311 2,960 3.877 14-
THE BASEMENT ADVISORY CENTRE NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31ST MARCH 2024 7. Analysis of net assets 2024 Tangible Fixed Assets Net Current Assets Total Unrestricted Funds General Fund 194 12221 12,415 Restricted Funds Liverpool City Council - Community Resource Grant Total Funds 194 12,285 12,479 2023 Tangible Fixed Assets Net Current Assets Total Unrestricted Funds General Fund 287 58,580 58,867 Restrlcted Funds Liverpool Cty Council Steve Morgan Foundation 14 14 Total Funds 287 58,594 58,881 8. Unrestricted Funds Movements in the Year Income Expenditure 2024 Reserves at the beginning of the year Reserves at the end of the year General Fund 58,867 15N39 (61,891) 12,415 Movements in the Year Income Expenditure 2023 Reserves at the beginning of the year Reserves at the end of the year General Fund 56.882 46,238 (44.253) 58,867 15-
THE BASEMENT ADVISORY CENTRE NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31ST MARCH 2024 General Fund is used to finan the charitable company's general activities as outlined in the Trustees, Report. g. Restrlcted Funds Movements in the Year Income Expenditure Reserves at the end of the year Reserves at the beginning of the year 2024 Liverpool City Council - Community Resource Grant Steve Morgan Foundation 10,500 (10,443) (7) 14 10,500 (10.450) Movements in the Year Income Expenditure Reserves at the end of the year Reserves at the beginning of the year 2023 National Lottery Fund Grant- Awards for All Liverpool City Council - Community Resource Grant Raindance Charitable Trust Steve Morgan Foundation 3,030 (3.717) 63 10,500 (10,556) (1) (14,046) 3,128 10,925 3,879 24,455 (28.320) 14 Descrlption of Funds These are monies given to the charitable company to be spent at the discretion of the Board of Trustees for specific charitable purposes, as follows: National Lottery Fund Grant - Awards for All - Funding towards Consultancy fees, printing, stationary and refreshments Llverpool City Council - Community Resource Grant - Contribution towards salaries costs. Expenditure comprises Steve Morgan Foundation - Contribution towards salary costs Raindanco Charitsble Trust - Contribution towards (x)re costs. 16-
THE BASEMENT ADVISORY CENTRE NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31ST MARCH 2024 10. Operating Lease Commitments The lease of 56-60 Parr Street, Liverpool expired in October 2021. Currently is undei negotiation. 11. Related Party Transactions There were no related party transactions during this or the previous year. 12. Contingent Liabllities During the financial year there are no contingent liabilities at 31st March 2024 (2023: nil). 13. Guarantee As at 31 sl March 2024, 5 members had given a guarantee of £10 each in the event of the company winding-up. Total: £50 (2023: 6 members £60). 17-