THE BASEMENT ADVISORY CENTRE ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2025 Company Registration No. 03642747 Charity Registration No. 1075052
THE BASEMENT ADVISORY CENTRE TRUSTEES, ANNUAL REPORT FOR THE YEAR ENDED 31ST MARCH 2025 The trustees are pleased to present their annual report for the year ended 31 St March 2025. The financial statements comply with the Charities Act 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 1st January 2019. OBJECTIVES AND ACTIVITIES The charity's objects are to provide a Drop In Centre, to relieve human suffering, hardship and distress amongst homeless people irrespective 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 charity and procuring contributions to its funds in the form of donations. subscriptions and OtheiSe. 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 charity's objects. We have referred to the guidano 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 set. ACHIEVEMENTS AND PERFORMANCE 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 empowerment, the charity advocates for the rights of our sep4ice users and acts as a catalyst for change in an environment that provides a psychologically informed and planned environment. The charity ensures that seDiice users aCsS the optimum support by working in partnership with other relevant agencies. The strategies employed to achieve the charitys objectives are to; Remove barriers SO the socially exduded can access the ServIS they need. Provide coaching to service users who request it. Provide seNices in The Basement for service users to access. Provide a drop in lounge for Servi user respite and access to support Provide kitchen facilities so that Servi users may prepare a meal for themselves. Provide shower and laundry facilities to rough sleepers. Fundraising Activities The statement of financial activities gives details of income and expenditure for this year. The Basement continues to source funding from grant making trusts in order to develop and enhan the services currently available to service users.
THE BASEMENT ADVISORY CENTRE TRUSTEES, ANNUAL REPORT FOR THE YEAR ENDED 31 MARCH 2025 ST FINANCIAL REVIEW Total income for the year was £40,071 (2024: £25,939) of which £30,250 (2024: £10,500) r8lated to funding for projects upon which restrictions are placed. Total expenditure for the year was £29,831 (2024: £72,341) leaving a surplus for the year of £10,240 (2024: deficit £46,402). At 31st March 2025 the charitable company's reserves stood at £22,719 (2024: £12,479) of which £24,934 (2024: £64) represented restricted funds. Rlsk Management The main risks to which the charity is exposed as identified by the Trustees have been considered and systems have been established to mitigate those risks. Reserves Policy It is the policy of the charitable company to maintain unrestricted funds. a level that covers redundancy provision and allows the chaiity to continue its activities for three months should no further funding be received. As at the end of the financial year the unrestricted funds totalled a deficit £2,215. The charitable company requires a provision of £6,113 for three month's running costs & £1,397 redundancy costs (Total £7,510) The trustees plans to increase the unrestricted reserves through rental income, donations and unrestricted grants to cover core costs. Investment Policy and Objectives The trustees have the power to invest monies of the scheme, not immediately required for its purpose, 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 As well as continuing to Sour income from grants and donors. the charity is seeking a replacement tenant in order to provide rental income to increase its reserves. Whilst the charity has made numerous attempts in the preceding years to increase unrestricted funding it has seen a decline in numbers using the service and in available funding streams. The Trustees are in discussions with training providers and new funders to provide a project which focusses on supporting our service users as well as prison leavers and those vulnerable housed to be employment ready. To make a move away from reliance on benefits and into independence. This new project will require some changes to the building to enable the charity to focus on one-to-one support, interview technlques, and spaS for training to take pla. Using the Mindful Coaching Program the charity would support people to be confident to embark on training and would support and encourage people through training and eventually into employment.
THE BASEMENT ADVISORY CENTRE TRUSTEES, ANNUAL REPORT FOR THE YEAR ENDED 31 MARCH 2025 ST STRUCTURE, GOVERNANCE AND MANAGEMENT The Basement Advisory Centre is a charitable company limited by guarantee (registered in England and Wales, No. 03642747) incorporated on 1 St October 1998 and having registered as a charity (number 1075052) on 12th April 1999. 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. Th8 Memorandum and Articles of Association were amended by Special Resolution on 281h January 1999. Governing document The Charitable Company is administered by a board of trustees. The board meets monthly and th8r8 are sub-committees covering personnel, 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 finance, employment and development of the project. Trustees. induction and training A skills audtt 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 decision-making prosses, the business plan and recent financial Performan of the charity. During the induction day they meet key employees and other trustees. Trustees are encouraged to attend appropriate external training events where these will facilitste the undertaking of their role. REFERENCE AND ADMINISTRATIVE DETAILS Name The Basement Advisory Centre 03642747 Company Number Charity Number Registered Office 1075052 56 - 60 Parr Street Liverpool, Merseyside L14JN The Board of Trustees are also its Directors. Members are elected by the Annual General Meeting of the members of the council in accordance with the Articles of Association. Board of Trustees Trustees W R Christopher T Kenward D Lewis G Monaghan K Moores Company Secretsry G Monaghan
THE BASEMENT ADVISORY CENTRE TRUSTEES, ANNUAL REPORT FOR THE YEAR ENDED 31 MARCH 2025 ST Independent Examiner Mrs Ying Huang, ACCA. LCVS, 151 Dale Street, Liverpool L2 2AH HSBC Bank 99-101 Lord Street. Liverpool, Merseyside, L2 6PG Bankers Signad on If of the Board of Trustees .15& .e.rnI52( 2025 Date 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 resources, 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 material departure disclosed and explained in the financial statements. The Trustees are responsibl8 for maintaining proper accounting records which disclose 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 hen for taking reasonable steps for the prevention and detection of fraud and other iegUlar1ties. This report has been prepared in accordance with the Chartties 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 Parr Street Liverpool Merseyside L14JN Date:
Docusign Envelope ID.. FF109A7C-B09742C>A22A-EA52865DD6FA 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 2025, which are set out on pages 7 to 17. The Irustees (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 the 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 follow the prOdureS 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 attentton. My examination was carried out in accordan with general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audi( and consequent5y no opinion is given as to whether Ihe accounts present a 'ltue and fairf view and the report is limited to those matters set out in the statement below. Res ective res onsibilities of trustees and examiner Basis of inde endent examinerfs statement Inde endent examineffs statement In connection with my examination, no matter has come to my attention: (1) whlch gives me reasonable cause to believe that in, any material respect, the requirements: to keep accounting 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 YSng Huang Relevant professional qualification or body: ACCA Address, Glo LCVS.151 Dale Street, Liverpool, L2 2AH Dated: DF051AE92EBD4BO.. 16 December 2025
THE BASEMENT ADVISORY CENTRE STATEMENT OF FINANCIALACTIVITIES (INCLUDING INCOME & EXPENDITURE) FOR THE YEAR ENDED 31ST MARCH 2025 Notes Unrestricted Restricted Funds Funds 2025 2025 Totals Totals 2025 2024 Income and endowments from: Donations and legacies Charitable activities Oth8r trading activities 3a 3b 3c 9,821 9,821 30,250 1,140 14,090 10,709 30,250 Total income 9.821 30,250 40.071 25.939 Expenditure on: Charitable Activiti8S 24,451 5,380 29,831 72,341 Totsl expenditure 24.451 5.380 29.831 72.341 Net (expenditure)lincome, net movement in funds (14,630) 24.870 10.240 (46,402) Total funds brought forward 12,415 12,479 58,881 Total funds carried forward 8-10 {2,215) 24,934 22,719 12,479 The notes on pages 9 to 17 fomi 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 expenditure account under the Companies Act.
THE BASEMENT ADVISORY CENTRE BALANCE SHEET AS AT 31ST MARCH 2024 COMPANY NO. 03642747 Notes 31sI March 2025 3151 March 2024 Fixed Assets Tangible fixed assets 146 194 Current assets Debtors Cash at bank and in hand 115 24,729 15,245 24,844 15,245 Current liabilltles Creditors: amounts falling due within one year (2,271) (2,960) Net current assets 22,573 12,285 Total assets less current Ilabilitles 22,719 12,479 Funds: Unrestricted funds Restricted funds (2,215) 24,934 12,415 8,10 22,719 12,479 These financial statements 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 accordance 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 accoTdance with section 476 of the Companies 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. 15- IL_ Loz Signed on behalf of the Board of Trustees on .................................. D Lewis - Trustee
THE BASEMENT ADVISORY CENTRE NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31ST MARCH 2025 1. Llmlted Liability The charity is a company limited by guarantee. Each member's liability is limited to £10. 2. Accounting Policies Basis of accounting The accounts have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note{s) to these accounts. The financial statements have been prepared in accoTdance with the Statement of Recommended Practice: Accounting arKI Reporting by 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 and Charities Act 2011 and the Companies 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 near8st £. The Charity has taken advantage of the provisions in the SORP for Charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows. Going concern At the time of approving the accounts, the Trustees have a reasonable expectation that the Charitable Company have plans in place to increase the unrestricted reseNes to the required level to continue in operational existence for the foreseeable fvture. The Trustees have therefore adopted the going concem basis of accounting in preparing the accounts. Fund accounting Unrestricted funds are the charity's flee reserves available for the trustees to apply in accordance with the charitable CoMpanS charitable objectives. Restricted funds are subject to specific restrictive conditions imposed by the donor. All restricted funds are accounted for as restricted income and expenditure for the purposes 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 it is probable that th8 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 the accounts when received. with the exception 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 confimied 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 2025 Expenditure recognition 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 accrual basis. All expenses. induding support costs and governance costs, are allocated or apportioned to the applicable expenditure headings in the Ststement of Financial Activities. Support and govemance costs are applied to unrestricted funds unless specific2lly included in the restrictions, as specified by the donor. Expenditure on charitable activities relates 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 constitulional 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 charitable company. Fixed Assets Capital expenditure over £250 is stated in the balance sheet at cost less accumulated depreciation. Depreciation is provided to write off the cost of each asset over its expected useful lrfe as below: Fixtures, Fittings & Equipment Improvements to Leasehold Property Cash and cash equlvalents 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 /0 per annum reduoirYJ 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 Financial Instnjments Issues, of FRS 102 to all of its financial instruments. Financial instruments are recognised in the charity'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 financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. Basic financial assets Basic financial assets, whith 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 the present value of th8 future receipts discounted at a market rate of interest. Financial assets dassified as receivable within one year are not amortised. 10-
THE BASEMENT ADVISORY CENTRE NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31ST MARCH 2025 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 th8 debt instrument is measured at the present value of the future reIptS discounted at a market rate of interest. Financial liabilities classified 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 liabilities Financial liabilities are derecognised when the charity'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 charitable company benefrts from various exemptions from taxation afforded by tax legislation and are not liable to corporation tax on income or gains falling within those exemptions. Critical accounting estimates and Judgements In the application of the chaiity's accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities thal 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 estimat8S. 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 cuent and future periods. 3. Income and endowments from Unrestricted Restricted Funds Funds 2025 2025 Total Funds 2025 Total Funds 2024 Donations and legacies Donations General grants 4.226 5.595 4,226 5,595 1,140 9.821 9.821 Donations and legacies income for year end 2024 related wholly to unrestricted fund.
THE BASEMENT ADVISORY CENTRE NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31ST MARCH 2025 Unrestricted Restricted Funds Funds 2025 2025 Total Funds 2025 Total Funds 2024 b. Charitable activities Asda Foundation Liverpool City Council - Community Resource Grant Room Hire 25,000 5,250 25,000 5,250 10,500 3,590 30.250 30,250 14,090 Income from charitable activities for year end 2024 comprised £3,590 for unrestricted funds and £10,500 relates to restricted funds. c. Other tradlng activities Rental income 10,709 Other trading activities income for year end 2024 related wholly to unrestricted fund. 4. Expendlture on Charitable Activities Direct Support & Charitable Governance Expenditure Costs Total Total 2025 2024 To educate the public conceming the nature, case and effects of homelessness, human suffering, poverty and distress. 22,818 7.013 29,831 72,341 . Analysed as follows: 2025 2024 Direct charitable expenditure.. Staff salary costs Pension Building Running costs 14,822 237 7.759 36,800 730 24,459 22,818 61,989 12-
THE BASEMENT ADVISORY CENTRE NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31ST MARCH 2025 2025 2024 Support & Govemance costs." Office costs Travel expenses Insurance Refreshments Subscriptions and memberships Legal and professional fees DBS fees Bank charges Payroll fees Accountancy Loss on Disposal of fixed assets Depreciation 3.847 5,886 58 1,452 681 251 49 16 61 540 1,265 29 1,295 29 251 62 638 809 7,013 10,352 Total expenditure on charitable activities 29,831 72,341 £5,380 (2024: £10,450) of the above expenditure relates to restricted funding. b. Analysis of staff costs 2025 2024 Gross Wages Social Security Costs Pension 14,822 36,800 237 730 Total 15.059 37,530 c. Particulars of employees: The average number of employees during the year 1.08 (2024: 2), and calculated on the basis of full-time equivalents, was as follows: 2025 2024 Charitable activities staff No employee received emoluments of more than £60,000 during the year (2024: Nil) The Trustees, being also directors, are not remunerated for their services and are not included in the above number of employees. There are no out-of-pocket expenses were reimbursed to trustees in the year (2024: £nil) 13
THE BASEMENT ADVISORY CENTRE NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31ST MARCH 2025 5. Tangible fixed assets Fixtures, Fittings & Equipment Improvements to Leasehold Property Total Cost Balan at 1st April 2024 Additions 37,239 282,194 319,433 Balance at 31st March 2025 37,239 282,194 319,433 Accumulated Depreciation Balance at 1 April 2024 Charge for the year 37.045 48 282,194 319,239 48 Balance at 31sI March 2025 37,093 282.194 319,287 Net Book Value at 31st March 2025 146 146 Net Book Value at 31st March 2024 194 194 A deed of assignment of beneficial interest dated 29th January 2016 has been declared stating a one third ownership of 56 - 60 pa Street Liverpool. Valuation of which cannot be ascertained. 6. Debtors 2025 2024 Prepayments 115 7. Creditors: amounts falling due within one year: 2025 2024 Accruals Social Security costs Pension 2,199 28 44 2,507 311 142 2.271 2,960 14-
THE BASEMENT ADVISORY CENTRE NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31ST MARCH 2025 8. Analysls of net assets 2025 Tangible Fixed Assets Net Current Assets Total Unrestricted Funds General Fund 146 (2.361) (2,215) Restricted Funds Asda Foundation 24,934 24,934 Total Funds 22,573 22,719 2024 Tangible Fixed Net Current Assets Assets Total Unrestricted Funds General Fund 194 12,221 12,415 Restricted Funds Liverpool City Council - Community Resource Grant 64 Total Funds 194 12,285 12,479 9. Unrestricted Funds Movements In the Year Income Expenditure 2025 Reserves at the beginning of the year Reserves at the end of the year General Fund 12,415 9,821 {24,451) (2,215) 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 15,439 (61,891) 12,415 General Fund is used to finance the charitable company's general activities as outlined in the Trustees, Report. 15-
THE BASEMENT ADVISORY CENTRE NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31ST MARCH 2025 10.Rostricted Funds Movements in the Year Income Expenditure Reserves at the end of the year Reserves at the beginning of the year 2025 Asda Foundation Liverpool City Council - Community Resource Grant 25,000 (66) 24,934 5,250 (5.314) 30,250 (5.380) 24,934 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) 64 (7) 14 10,500 (10.450) 64 Description of Funds These are monies given to the charitable company to be spent at the discretion of the Board of Trustees for specific charitable PUTposes, as follows: Asda Foundation contribution towards supporting people into Education and èrnployment. Liverpool City Council Communlty Resource Grant - Contribution towards salaries costs. Expenditure comprises Steve Morgan Foundation - Contribution towards salary costs 11. Operating Lease Commitments The lease of 56-60 Parr Street, Liverpool expired in October 2021. Currently is under negotiation. 12. Related Party Transactions There were no related party transactions during this or the previous year. 16-
THE BASEMENT ADVISORY CENTRE NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31ST MARCH 2025 13. Contingent Liabilities During the financial year there are no contingent liabilities at 31 St March 2025 (2024: nil). 14. Guarantee As at 31 St March 2025, 5 members had given a guarantee of £10 each in the event of the company winding-up. Total: £50 (2024: 5 members £50). 17