ISLAND ADVICE CENTRE IA company limited by guarantee) (Registered No.: 03375266) {Charity No.: 10768571 TRUSTEES. REPORT ANO FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 ABJXB2ML 30112rd022 COMPANIES HOUSE
12
MYRUS SMITH Chartered Accountants Nompn House 8 Burnell Road Sutton. Suffey SM1 4BW
ISLAND ADVICE CENTRE IA company limited by guarantee) CONTENTS FOR THE YEAR ENDED 31 MARCH 2022 Pagg Tnjstees, Annual Report Independent Auditorfs Report 8-11 Statement of Financial Acbvrties 12 Balance Sheet 13 Notes lo the Financial Statements 14-20
ISLAND ADVICE CENTRE IA company limlted by guarantee TRUSTEES. ANNUAL REPORT FOR THE YEAR ENDED 31 MARCH 2022 The trustees present their report and financial statements for the year ended 31 March 2022. REFERENCE AND ADMINISTRATIVE DETAILS Charity name and registration numbers Name: Island Advi Centre Company No: 03375266 Charity No.. 1076857 Board of Trustees Katherine Wilson Steve Lake Chris Parsons Thomas Siggers Shabnam Sharmin Simon Lanaria Godline Pushparajan Stephanie Dickinson Chair Treasurer Centre Manager Sarah Sauvat Registered Office and Principal Address Island House Roserton Street London E14 3PG Auditors Myrus Smith, Chartered Accountants and Statutory Audttors Norman House 8 Burnell Road Sutton, Surrey SM14BW
ISLAND ADVICE CENTRE IA company limitgd by gyarantoe) TRUSTEES, ANNUAL REPORT FOR THE YEAR ENDED 31 MARCH 2022 Icontd.... OBJECTIVES AND ACTIVITIES Main objectives and mission The Centre's main objectives, in accordance with tts goveming document. are: to provide by employing suitsbly qualffied staff free housing, debt, welfare and generalist advice to poor persons resident in Tower Hamlets or nearby areas to provide an accessible sep4ice in terms of location, disability and language to provide home visits to persons Vth disabilities. ADAPTING A SERVICE DURING A PANDEMIC The pandemi¢ had a direct effect on the organrzation main activities due to COVID 19 related control measures been PLrt in place by the govemmenL Although the delivery of the service Continued. unfortunately face to face advice had been severely impacted during the pandemic and this had a direct impact on volunteers, involvement which considerably redud. But thanks to funders from the London Community Response and Community Justice Fund we were able to adapt our system to remote work including migrating the cloud and adopting a MS Telephony system. This also helped us resume volunteer engagement. The new IT system and telephony system enabled Island Advice Centre to continue to provide the much needed advice and support through increased telephone helpline. remote appointments via telephone or digital means and email advice. Outreach sessions continued to be delivered albeit remotely. Training courses and workshops were adapted to be delivered digitally and factsheets and online information continued to be developed. FINDING A NEW NORMAL As protective measures were eased, Island Advice Centre slowly resumed the face-to-fa advi to the most vulnerable residents while remaining flexible in their channel of delivery. From August 2021. the most vulnerable clients could have face to fa appointments vthen requested. Since September 2021 our housing and debt clinits have been delivered as per client preferences i.e either face to face over the phone or digitalSy. Since March 2022 appointments are offered face to fa¢e by default bLrt residents always have the choice to have telephone or digital consumation rf this is their preferences Training and workshop are now delivered via a mixiure of face to fa and digital means. Main activities The organisation exists to provide generalist advice and infomiation. benefits, debt and housing casework including representation at court and tribunals, training and placements for advice volunteers, and peer support to other front-line advice agencies.
ISLAND ADVICE CENTRE IA company limited by guarantee) TRUSTEES, ANNUAL REPORT FOR THE YEAR ENDED 31 MARCH 2022 lconld.... Our main activities are carried out in our office on the Isle of Dogs, with OUt8¢h advice sessions being delivered at Spitalfields Health Centre, E1 Health. Chrisp Street Health Centre, Barkantine Clinic, Island Health Centre. EIATh and Bromley by Bow Centre. Our activities in the year included.. Telephone advice sessions yekdayS Daily telephone appointments for benefts, debt and housing advice Four remote sessions per week in GP surgeries Weekly remote advi sessions in other Gommunity and advice centres Casework and representation at court and tribunal Debt Relief Order intennediary service Advi on fuel and water debt and energy efficiency Volunteer recruitment. plaMentS and supervision Volunteer training ¢ourse one day per week delivered remotely NVQ level 3 and 4 assessments in Advice and Guidance Peer support and caparity building in 10 other front-line Tower Hamlets advice centres Production of welfare righls factsheets and delivery of training workshops for adviGe workers Tower Hamlets Community Advice Network website Nelwofking and partnerships Referrals to other agene$ for specialist advi services such as immigration, employment and family law and for support wrth online applications and advice Tesources. These activities Can be broadly divided into four categories: 1. Specialist casework - this includes debt and money management advi funded by LBTH, welfare benefits casework and appeals funded by LBTH and City Bridge Trust and housing advice and rAsework funded by Trust for London. 2. Advice volunteer training includes our volunteer training project funded by LBTH, NVQ assessments carried out by qualified staffs and funded by a mix of grants from Canary Wharf Trust and fee payments by ¢andidatesltheir employers, and training sessions and workshops delivered to other agencies partly funded by LBTH and partly by East End Community Foundation. 3. Generalist advio provision delivered Ihrough telephone advice session. emails, remote outreach sessions and appointments and funded by LBTH, Social Action for Health, Thames Water Trust, ELATT college and Osmani Trust. 4. Peer Support and Coordination Work this work consists of support for Tower Hamlets Communty Advi¢e Network and coordination of referrals funded by Child Society Coordinate Community Support .
ISLAND ADVICE CENTRE IA Company limited by guarantee) TRUSTEES, ANNUAL REPORT FOR THE YEAR ENDED 31 MARCH 2022 Icontd.... Service provision depends on suitable funding being available for that service. Restricted funds will be applied only for the specific activities required by the funder whilst unrestricted funds may be used to support or extend any service that we consider it important to deliver in light of our overall mission and our understanding of local needs. Our user statistics indicate that residents from all sectors of the local Tower Hamlets community are aware of and a¢5$ our servi¢es. The majorrty of beneficiaries are people experiencing hardship Gaused by low incomes due to unemployment or furtoughing, ¢essation of benefits. lath of access to utilities and financial services, indebtedness including rent and council tax arrears, insecure or unaffordable housing. homelessness and disrepair. Our services are accessible in temis of disabled access (suilable premises. OutaCh appointments). language (advisers speak a range of community languages) and local provision. Other beneficiaries are unemployed residents who can access our volunteering and training opportunities and gain vocational skills, qualifications. and improved chan$ of finding secure employment. How our activities deliver public benefrt The trustees. when exercising any powers or duties to which Ihe guidance is relevant, notably about how the organisation undertakes its work and spends the reSoUrS it raises always have due regard lo the Charrty Commission's public benefit guidan. Our charitable activities focus on the provision of free advi and advocacy to residenls of Tower Hamlets and surrounding areas. We incorporate the help of local volunteers both in our management commtttee and service delivery. Therefore the public benefit is Iwofold. Firstly by helping those in need to secure their statutory rights and entitlements and empowering them through awareness and support. Without this support many of our clients would fall under the poverty line which is detrimental to their well-being and the well-being of children under their care. Secondly through our volunteering opportunities we up-skill residents and give them the experience and skills needed to enter the job market and participate in the local and wider economy. Many of our volunteers move on to paKI employment both in the advice sedor and other areas. ACHIEVEMENTS AND PERFORMANCE In the year ending 31 March 2022, 2.622 people accessed our advice servIs, either by been referred directly through us or by acssIng our service directly via telephone or ernail or trough outreach services which we continued lo deliver remotely. Our outreach services delivered 156 remole sessions funded by SAfH in 5 GP surgeries. We also delivered advi session to students at ELATh during temi time. Through our telephone and email enquiries in house funded by LBTH, we assisled 1.405 service users accessed general advice by phone or online and following our advice and support with 2,712 enquiries.
ISLAND ADVICE CENTRE (A company limited by guarantee) TRUSTEES. ANNUAL REPORT FOR THE YEAR ENDED 31 MARCH 2022 Iconld... Through our debt specialist casework funder by L8TH and Thames Water, we helped 254 clients having £450,080 of debt written off trough insolvency or dis¢retionary relief and £351,679 of debt managed trough reduod payment plan or moratorium period. And through our financial Gapability support funded by Thames Water we helped 105 household with better off energy comparison and discount application which a projected annual savings of £50,3531£480 per household) Through our specialist welfare casework funded by CBT. we supported 110 clients secure 145.515 of confimied additional income and assisted 50 clients with tribunal representation. Through our housing specialist advice funded by TFL. we advised 177 clients regarding housing matter and provided specialist casework support to 101 to improve their housing position including disrepair. housing allocation. suitsble housing andlor avoiding homelessness. Our volunteer advice work training project continued to be funded by LBTH. The project delivers a weekly digital advice training course to local community volunteers, finds plaMentS for them in Island Advice and offers the opportunity to progress to NVQ levels 3 and 4. We have also conlinued to provide peer support and capacity building to other Tower Hamlels advi ntreS with funding from LBTH. This has included delivery of training courses, workshops and fadsheets. the maintenance of a Tower Hamlets Community Advi Network website. provision ol file reviews for advisers in other agencies, and cordination of the THCAN steering group and its associated advice forums. wrth the support of the Children Society Coordinate Community programme we updated the THCAN website to include a centralised referral system available to organisations in the borough of Tower Hamlets to help implement a coordinate and effective referral system for residents to access the advice sector. FINANCIAL REVIEW Principal Funding sources Island Advice relies on charitable grants and statutory funding for its income. The organisation has an ongoing strategy of applying for any available grants largeted for the provision of social welfare law advice from large statutory funders as well as smaller trusts and foundations. The principal funding sources in this year were the London Borough of Tower Hamlets. Trust for London and City Bridge Trust.. other funders included the SAfH (GP Link's project), Children Society and Thames Water Trust. There are four areas of restricted funding.. specialist casework. which funds casework in housing. welfare benefits and debt-, generalist advice which is delivered through dropin sessions, telephone advice and appointments. advice volunteer training which is i)ffered to advice centre volunteers borough-wide and includes both dassroom training and supervised placements., and peer support work which is offered to other advice ntreS in the borough.
ISLAND ADVICE CENTRE (A company Ilmlted by guarnntee) TRUSTEES. ANNUAL REPORT FOR THE YEAR ENDED 31 MARCH 2022 Reserves policy Trustees have established that in order to fuffil their responsibiltlies to staff and to minimise the risk of any breach of statute or organisational duty the organisation should hold sufficient lunds in reserve to meet the full running costs for three months. Reserves will be built up from unrestricted funds and the level of reserves will be reviewed annually by the Board. The present level of unrestricted erVeS of £118.731 as at 31 March 2022 (2021 £116.021) available to the ¢harity meets this requirement. Investment policy Any surplus funds 11 be held in. low risk, secure investments such as the charities deposit fund run by CCLA Investment Management Ltd. Additionally the organisation uses an interest bearing current account in order to maximise the value of any cash held. STRUCTURE, GOVERNANCE AND MANAGEMENT The charity is also a MpanY limited by guarantee and the Directors of the company are also the Trustees of the tharity. The tharity's governing document is a memorandum and articles of assoaation dated 23 May 1997 and updated on 2 June 1999: Trustee appolnlmenL Induction and tralnlng Trustees are elected at the organisation's AGM. In addition, the board may, at its discretion, make appointments to the Board between AGMS. The Board endeavours to ensure that its membership covers a wide range of experience and skills and that the backgrounds of the memters of the Board reflect a balance that is appropriate to the charity's mission and a¢tivities. New trustees are provided with a copy of the business plan. most recent annual report and constitution. details of the organisation's strudure arvj staffing, and copies of relevant policies including the Equality and Diversity Polw. Organisational structure Operational management of the organisation is delegated to the Centre Manager who takes overall responsibility for the day to day running of the organisation. planning and strategy. and implementing the directions of the Board. The Centre Manager is part of a senior management team that includes the volunteer COrdInatOr and housing, debt and welfare benefits advi supervisors. Involvement of volunteers The board of trustees are volunteers drawn from the local community. the business sector, other voluntary sector organisations and ex- advice staff and volunteers. The organisation also uses local community volunteers and law students lo assist in delivery of advice services and to carry out administrative support.
ISLAND ADVICE CENTRE IA company Ilmiled by guarantee) TRUSTEES. ANNUAL REPORT .FOR ThE YEAR ENDED 31 MARCH 2022 Icontd.... STATEMENT OF TRUSTEES. RESPONSIBILITIES The trustees (who are also directors of"Island Advice Centre for the purposes of company law) are responsible for preparing the Trustees, Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Company law requires the trustees to prepa financial statements for each financial year. Under company law the trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charilable company and of the incoming resources and application of resources. including the income and expenditure. of the charitable company for that period. In preparing these financial statements. the trustees are required to: select suitable accounting policies and then apply them consistently.. observe the methods and principles in the Charities SORP 2019 {FRS 102). make judgements and estimates that are reasonable and prudent., prepare the financial statements on the going concern basi5 unless it is inappropriate to presume that the charitable company will continue in operation. The trustees are sponsible for keeping adequate accounting records that disclose wrth reasonable accuracy at any time the finanaal position of the charitable company and enable them to ensure that the finanoal statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the tharitable company and hence for takn'ng reasonable steps for the prevention and detection of fraud and other irregularities. In so far as the trustees are aware.. there is no relevant audit infomiation of which the charitable company's auditor is unaware" and the trustees have taken all steps that they ought to have taken to make themselves aware of any relevant aLKIrt InfoatiOn and to establish that the auditor is aware of that infomation. The trustees are responsible for the maintenance and integrity of the corporate and financial infomation included on the charitable company's website. Legislation in the United Kingdom goveming the preparation and dissemination of ffinancial statements may drffer from legislation in other jurisdictions. AUDITORS A resolution proposing the re-appointment of Myrus Smith as auditors to the company will be pul to the Annual General Meeting. This report has been prepared in accordance Vth the special provisions of Part 15 of the Companies Act 2006 relating to small companies. Approved by. the Board of Trustees on 22ThJ December 2022 and signed on its behaw. by.. Stephanie Dickinson Trustee
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF.. ISLAND ADVICE CENTRE IA company limited by guarantee) FOR THE YEAR ENDED 31 MARCH 2022 Opinion We have audited the financial statements of Island Advice Centre (the '¢harilable company,) for the year ended 31 March 2022 which comprise the Statement of Finan¢ial Activilies, the Balan¢e Sheet and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Stsndard applicable in the UK and Republic of Ireland {United Kingdom Generally Accepted Accounting Practice) In our opinion the financial statements.. give a true and fair view of the state of Ihe charitable ¢ompany's affair5 as at 31 March 2022. and of its incoming resources and application of resources. induding ils income and expenditure, for Ihe year then ended,. have been properly prepared in acwrdance with United Kingdom Generally Accepted Accounting Practice- and have been prepared in accordance with the requirements of the Companies Act 2006. Basls for opinlon We conducted our audit in accordance with Inlemational Standards on Auditing {UKI {ISAs IUKI) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audil of the financial statements section of our report. We are independent of the charilable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC'S Ethical Standard. and we have fulfilled our other ethical responsibilities in accordance wilh Ihese requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Conclusions relating to going concem In auditing the financial statements, we have concluded that the trustees. use of the going concern basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have performed. we have not identified any material uncertainties relating lo events or conditions that, individually or collectively. may cast significant doubt on the charitable company's ability to continue as a going concem for a period of at least twelve months from when the financial statements are aLthorised for issue. Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report- Other information The trustees are responsible for the other information. The other infomiation comprises the information included in the truslees, annual report, other than the financial slatements and our auditor's report thereon. Our opinion on the financial slalements does not cover the other information and, except to the extent olhemise explicitly stated in our report, we do not express any fom of assurance conclusion thereon.
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF: ISLAND ADVICE CENTRE (A company limited by guarantee) FOR THE YEAR ENDED 31 MARCH 2022 In connection with our audit of the financial statements, our responsibilrty is to read the other information and. in doing so. consider whether the other information is materially inconsistent with the financial statements or our knowledge oblained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to detemiine whether there is a material misstatement in the financial statemenls or a material misstatement of the other information. If, based on the work we have perfomied, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard. Opinions on other matters prescribed by the Companles Act 2006 In our opinion. based on the work undertaken in the course of the audit-. the information given in the trustees. report (incorporating ihe directors, report) for the financial year for which the financial statements are prepared is consistent wtth the financial statements. and the directors, report has been prepared in accordanrk with applicable legal requirements. Matters on whi¢h we are required to report by exception In the light of our knowledge and understanding of the charitable company and ils environment obtained in the course of the audit, we have not identified material misstatements in the directors, report. We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to pOrt to you rf, in our opinion-. adequate accounting records have not been kept. or returns adequate for our audit have nol been received from branches not visrted by us. or the financial statements are not in agreement with the accounting records and retums. or certain disclosures of directors, remuneration specified by law are not made,. or we have not received all the information and explanations we require for our audit., or the trustees were not entitled to prepare Ihe financial statements in accordance with the small companies. regime and take advantage of the small companies, exemptions in prepanng the directors. report and from the requirement to ppare a strategi¢ report. Responsibilities of trustees As explained more fully in the trustees, responsibilitTres statement (sel out on page 71. the trustees (who are also the directors of the charitsble ¢ompany for the purposes of company law) are responsible for the preparation of the financial Statements and for being satisfied that they give a true and fair view, and for such intemal control as the truslees determine is necessary to enable the preparation of finanoal statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the trustees a responsible for assessing the charitable company's ability to continue as a going concem, disclosing. as applicable, matters related to going concern and using the going concem basis of accounting unless the tnjstees either intend to liquidate the charitable company or lo cease operations, or have no alisti¢ alternative but to do so.
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF.. ISLAND ADVICE CENTRE (A company limited by guarantee) FOR THE YEAR ENDED 31 MARCH 2022 AudIt08 responsibllities for the audit of the financial statements Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement. whether due to fraud or error, and to issue an auditorfs report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAS (UK) will always detect a material misstatemenl when tt exists. Misstatements Gan arise from fraud or error and are considered material rf, individually or in the aggregate, they could reasonably be expecled to Influen the economic decisions of users taken on the basis of these financial statements. Irregularities, including fraud. are instances of non4omplianrR with laws and regulations. We design procedures in line with our responsibilities, outlined above. to detect material misstalements in respect of irregularities, including fraud. The specific procedures for this engagement and the extent to which our procedures are capable of detecting irregularilies, including fraud is detailed below: Enquiry of management and those charged with govemance about actual and potential litigation or claims and the Klentrfication of non-compliance with law and regulations. Reviewing minutes of meetings of those charged with governance. Reviewing financial slatement disclosures and testing io supporting documentation to assess Complian with applicable laws and regulations. Auditing the risk of management override of controls. induding testing joumal entries and other adjuslmenls for appropriateness. and assessing whether the judgements made in making accounting eslimates are indicative of a potential bias. Perfomiing analytical procedures to identify any unusual or unexpected relationships that may indicate risks of material misstatement due to fraud. Professional sptiCIsM in course of the audit and with audit sampling in material audit areas. Because of the inherent limitations of an audil, there is a risk that we will not detect all irregularities. including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transadions refleded in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather Ihan error. as fraud involves intentional concealment, forgery. collusion. omission or misrepresenlation. A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at.. www.frc.org.uklauditorsresponsibilities. This description forms part of our auditor's report. 10
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF: ISLAND ADVICE CENTRE IA company limited by guarantee) FOR THE YEAR ENDED 31 MARCH 2022 Use of our report This report is made solely to the charitable company's mernbers, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken sot at we might state to the charitable company's members those matters we are required to tate to them in an auditor's report and for no other purpose. To the fullest extent mitted by law. we do not accept or assume responsibility to anyone other than the ritable company and the charitable company's members as a body, for our audit work, for port, or for the opinions we have fonned. ch hen Jones FCA (Senior SL2tutory Auditor) For nd on behalf of Myrus Smith Chartered Accountants arKI Statutory Audrtors Norman House 8 Bumell Road Sutton, Surrey SMI 4BW 22 December 2022 11
ISLAND ADVICE CENTRE (A company limited by guarantee) STATEMENT OF FINANCIAL ACTIVITIES Ilncorp)Fating Income and Expenditure Accounti FOR THEY&4R ENDED 31 MARCH 2022 Un$tric1ed Restncted Funds . Funds Total 2022 Total 2021 Notes In¢ome from: Donation$ and legacies Charitable activities Investments 10,188 59.058 18 10,188 356.456 18 10.000 441,999 S2 297,398 Total 69.264 297.398 366.662 . 452.051 Expendllure on: Charitable activits'es 65.298 308.135 373.433 407.613 Total 65.298 308,135 373,433 407,613 Net Incomel(expenditure 3.966 (10.737) (6.771) 44.438 Transfers betsveen hjnds 14 (1.256) 1.256 Net movement In funds 14 2.710 (9.481) (6.771) 44.438 Reconciliation of funds: Total fijnds brought forward 14 116,021 15,521 131,542 87,104 Total funds caTrled forward 14 £118.731 £6.040 £124.771 £131.542 All income and expendiiure derrve from Continuing activiiies. The Statement of Financ¢al Ac*vitses includes all recogntsed gains and k>sses. The noles form part of the financial statements. 12
ISLAND ADVICE CENTRE (A ¢ompany limited by guar•nlee) (Company No: 03375266) BAL4NCE SHEET AS AT 31 MARCH 2022 2022 . 2021 FIXED ASSETS Tangl1e assets 11 CURRENT ASSETS Deblors Cash at bank arKI in hand 12 44.774 120,851 29.028 117.590 165.625 146.618 CREDITORS Amounts falling due within one year 13 40.854 15,076 NET CURRENT ASSETS 124,771 131,542 NET ASSETS 15 £124,771 £131,542 FUNDS Restricted Unrestricted 14 14 6,040 118,731 15,521 116,021 14 £124.771 £131.542 The financial Statents have been prepared in &cordance wtlh the Speal provisions for small companies under Part 15 of the Companies Act 2006. The finan¢ial ststemenls were approved by the 8oard of Trustees on 22r December 2022 and signed on its behalf by.. Stephanie Dickinson Trustee The notes fomi part of the financial statements. 13
ISLAND ADVICE CENTRE IA company limited by guarantee> NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 ACCOUNTING POLICIES General infomiation and basi5 of accounting Island Advice Centre is a registered chanty IrK>. 10768571 and a private company (no. 033752661 limited by guaranlee. registered in England and Wales. Each member is liable to contribute an amount not exceeding £1 in the event of the charitsble company being wound up. The registered office is given in the Trustees. Annual Report on page 1. The charity Constitutes a publt benefit entity as defined by FRS 102. The financial statements have been prepared in a¢eord8nce with Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in a¢¢ordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 1021 issued in October 2019, the Financial Reporb"ng Standard applicable in the United Kingdom and Republi¢ of Ireland IFRS 1021. the Charities Acl 2011, the Companies Act 2006 and UK Generally Accepted Accounting Practi. The financial sl8temenls are prepared on a going concem basis and under the historical cost convention. The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been tknnsistently applied to all years presented unless otherwise ststed. Fund accounting General funds are unrestricted funds which are available for use al the discretion of the Trustees in lurtheran¢e of the general objectives of the charity and which have not been designated for olher purposes_ Reslrieled funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the charity for particutar purposes. The costs of raising and adminislenng such funds are charged against the specific fund. In¢omiDg resources Items of income are recognised in the financial statements when all of the following criteria are mel". • The charity has entitlement to Ihe fiJnds'. any performan¢e conditions have been met or are fully within the conliol of the charity,. there is sufficient certainty that r1p1 of the income is considered probable,. and • the amount Can be measured reliably. Where grants are awarded over a specified or implied timeframe. the income is recognised evenly over the grant period. A conlingenl asset is disclosed for the unrecognised amunt of rnulti-year grants. Resources expended Expenditure is recognised once there is a legal or construclive obligation to make paYnnI to a third paty. it is probable that settlement will be required and the amount can be Measured reliably. Expenditure is allocated to each acb'vity where the Costs relate direcuy to that activity. Support costs, including governance cosis. that do not relate directly to any activity are apportioned to each activity on the basis of staff lime. 14
ISLAND ADVICE CENTRE IA Company limited by guarantee NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 Icontd... ACCOUNTING POLICIESlcontd... Fixed a$$ets Ail assets cosb.ng mre than £1,000 are capilalised. The costs of assets less than £1.000 are charged to the Statement of Financial Activities in the year of purchase. Depreciation is charged so a5 to write off the Gosl over the estimated useful life al the following rates.. Computer Equipment 33% slraighl line Operatlng leases Rentals appli¢able to operabng leases where substantialty all of the benefits and risks of ownership remain with the lessor are charged to the SlatenEnt of Financial A¢livrties on a straight line basis over the period of the lease. Pensions The charty operates a defined contribution pension schen. Contributions payable to the scheme are charged lo the Statement of Financial Activities in the period to which they relate. Debtots and Creditors Debtors and ¢redilors wilh no staled interest rate and receivable or payable within one year are recorded at transaction pnce. Any losses arising from impairment are recognised in expenditure. INCOME FROM DONATIONS AND LEGACIES Unrestricted Restricted Funds Funds Total 2022 Total 2021 Donations 10,188 10.188 10,000 £10,188 £Nil £10.188 £10,000 All of the £10.000 recognised in 2021 related to UnstrICted fvnds. INCOME FROM CHARITABLE ACTIVITIES unresth.cted Restricted Funds Funds Total 2022 Total 2021 Grants and contracts: Specialist casework Advice volunteer training Generalist advice provision Peer supp)rt work 157,9)4 60,244 79.250 157.904 72,684 125.868 162,304 83,328 189,117 7.250 12,440 46,618 £59.058 £297.398 £356.456 £441,999 Of the £441,999 recogntsed in 2021, £75.038 related to unrestricted fvnds and £366,961 reled to reslricled funds. 15
ISLAND ADVICE CENTRE (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 Icontd... INVESTMENT INCOME Unstricted Restricted Funds Funds Total 2022 Total 2021 Bank interest £18 £Nil £18 £52 All of the £52 recognised in 2021 was unrestricted fvnds. EXPENDITURE ON CHARITABLE ACTIVITIES Direct Costs Supporl Costs Total 2022 Total 2021 Stsff costs Dire¢t project costs Subscriptions and insurance Slalionery and postage Payroll se(viS Premises costs Publications Computer expenses Volunteers. expenses Staff and volunteer training and recwitmenl Sundry expenses Telephone and internet Travelling costs Professional fees NVQ assessor5 fees Governance cost$ Inole 7) 252.531 6.981 54,893 307.424 6,981 1,998 5,289 665 19.803 336,321 1,920 4,616 3,829 710 17.447 150 16.087 311 1.754 204 7,095 112 5.599 6,30S 5.153 1,998 5,289 665 19.803 315 2.190 315 5.527 20 9.021 3.337 20 4.155 6.288 6,288 5.758 4.344 5,758 £272,641 £100,792 £373,433 £407.613 Of the £407.613 expenditu recognised in 2021. £56.173 was charged to unrestn.cted fvnds and £351,440 was charged to restricted funds. ANALYSIS OF DIRECT AND SUPPORT COSTS BY ACTIVITY Direct Costs Support Costs Total 2022 Total 2021 Specialist casework Advice volunteer training Generalist advice proviSn Peer support work 104,810 65,329 102,502 52,443 10.474 37.875 157,253 75,803 140.377 157.049 80.029 159,496 11,039 £272,641 £100,792 £373,433 £407,613 16
ISLAND ADVICE CENTRE (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022.. .Icontd." GOVERNANCE COSTS ' 2022 2021 Staff costs Audit fees 2,204 2.140 2.873 2.280 £4.344 £5,153 NEf INCOMEIIEXPENDITURE) . 2022 2021 The net expenditure for the year is stated after charging: Auditor's remunerati¢)n Operating lease rentals £2,140 £14,620 £2,280 £11,969 STAFF COSTS 2022 2021 Wages and salaries Social security Pension costs Redundancy costs 269.957 19.335 20.336 292.431 21.902 21.642 3,219 £309.628 £339,194 2022 No. 2021 No. Average nLrmber of fvll-time equr¥alent emptoyees 2022 No. 2021 Average monthty number of empbyees 10 11 No employee ceiVed total employee beneffts (excluding employer pension costs) amounting to mre than £60.000 in ether year. Total employee benefrts received by Key Management amounted to £44,08412021 .. £S7,463). Under FRS 102. empl¢)yee benefits incudes gross salary. employels NIC and employer's pension contributions. 17
ISLAND ADVICE CENTRE IA company Ilmited by guaranteel NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 WCH 2022 Icontd... 10. TRUSTEES, REMUNERATION AND EXPENSES The Trustees received no remuneration or reimbursed expenses in 2022 or 2021. There were no related paty transactions in either year other than the Key Management empkjyee benefits disclosed in Note 9. 11. TANGIBLE FIXED ASSETS Computer equipment Cosl As al 1 April 2021 and at 31 March 2022 7.612 Depreclation As at 1 April 2021 and at 31 March 2022 7,612 Net book valuè As at 31 March 2022 £Nil As at 31 March 2021 £Nil 12. DEBTORS 2022 2021 Prepayments and accrued income £44.774 £29,028 13. CREDITORS- Amounts falling due wf(hin one year 2022 2021 Accruals and deferred income So¢ial security and other taxes 32,322 8,532 8,688 6,388 £40,854 £15.076 DEFERRED INCOME ANALYSIS 2022 2021 As at 1 April Additions dunng the year 23,750 As at 31 March £23,750 £Nil Deferred income of £23,750 (2021 £Nill included at#)ve aleS lo grant income received during the year but relatin9 to fvtU accounting periods. 18
ISLAND ADVICE CENTRE IA Company limited by guarantee) - NOTES TO ThE FINANCIAL STATEMENTS . FOR THE YB4R ENDED 31 MARCH 2022 14. MOVEMENT IN FUNDS. . Transfers betsveen funds Brought forward Carried. fonward 2022 Inco Expenditu Restrfcted Funds Specialist casework Advi volunteer training Generalist advice provision 5.259 2.100 8.162 157.904 60.244 79.250 157.253 62.214 88.668 5.910 130 1.256 Total restrleted Funds 15.521 297,398 308,135 1,256 6.040 Unrestricted Funds Gener 116.021 69.264 65.298 (1.256) 118.731 TOTAL FUNDS £131,542 £366,e62 £373,433 £Nil £124,771 Each of the above funds is descsibed in the Trustees. Annual Report Comparative information for the net rrthieffnt in funds in the previous year is as follows: Transfers belween fijnds Brought forward IncoTh Carried forward 2021 Expenditure Restrlcled Fund$ Specralist casework Advice volunteer training Generalist advice provisi¢)n 162.304 69,328 135.329 157.045 67.228 127.167 5.259 2.100 8.162 Total restricted Funds 366.%1 351.440 15,521 Unrestrlcted Funds General 87,104 85,0 56.173 116.021 TOTAL FUNDS £87.104 £452.051 £407,613 £Nil £131.542 19
ISLAND ADVICE CENTRE (A company Ilmited by guarantee) NOTES.TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 . Icontd... 15. ANALYSIS OF NET ASSETS BETWEEN FUNDS Unrestricted Funds 2022 Restrthd Funds 2022 Total Funds 2022 2022 Current assets Current liabilities 135.835 (17,104) 29.790 (23,750) 165,625 140,8541 As * 31 March 2022 £118.731 £124,771 Comparative infomiation for the anatyS of net a55ets belween funds in the prevwJu5 year is as follows.. Unrestricied Restricted Funds Funds 2021 2021 Total Funds 2021 2021 Current assets Current liabilities 131.097 115.076) 15.S21 146,618 (15.076) As at 31 March 2021 £116.021 £15,521 £131.542 16. TAXATION As a re9lStered chanty. Island Advice Centre is exempt from taxats'on under Part 11 of.the Corporation Tax Act 2010 and Section 256 of ihe Taxation of Chargeable Gains Act 1992. 17. COMMITMENTS The total minimum lease payments due under non-cancellable operating leases are as follows.. 2022 2021 Wrthin one year IAfjthin two and fve years 7.970 3.142 7,970 4,713 £11,112 £12,683 18. CONTINGENT ASSETS The charity has teen awarded several muSti-year grants wrth rfOrnnce-reSated conditions or specifiedlimplied timeframes whh preclude recoJnition of the fvll amount. The following contingent assets as at 31 Marth 2022 are theretse disclosed: London Borough of Tower Harnlets City Bridge Trust Easl End CAB Partnership 50.OCN) 25.6QYJ {Trainee advice projecti {Welfare benefits advice) {Generalist welfare and debt advice) £169.946 20