2021-03-31-accounts

Trustees	Mr Abayomi Akisanya
Elected Members	Mr Laurence Blake
	Mr Richard Boulton	(appointed 06 April 2021)
	Dr Pui Wah Carter
	Ms Meera Lachani
	Ms Ntombizifikile Mkoyana	(resigned 04 January 2021)
	Ms Leena Nagrecha
	Ms Danielle Sherman	(appointed 06 April 2021)
	Mr Farrukh Siddiqi
	Mr Anthony Swabe	(appointed 06 April 2021)
	Ms Gail Tendler	(resigned19 November 2020)
Co-opted Members	Mr George Derbyshire	Representing Watford Borough Council
	Cllr Stephen Bolton	Representing Watford Borough Council
		(resigned 26 May 2021)
Non trustee representative members
	Mr Jamie Normanton	Representing volunteers
	Ms Kalpna Budhdeo	Representing paid staff
The representative members have observer status at Trustee Board meetings.
Honorary Officers
Chairman	Mr Farrukh Siddiqi
Treasurer	Dr Pui Wah Carter
Company Secretary	Ms Leena Nagrecha
Principal Staff
Chief Officer	Ms Emma Burgham	(appointed17 May 2021)
	Mr Salim Bakirci	(resigned 09 April 2021)
Advice Service Manager	Ms Catherine Markowski
	Ms Kalpna Budhdeo
Charity number	1109872
Company number	05453262
Principal address	St Mary's Churchyard
	High Street
	Watford
	Hertfordshire
	WD17 2BE

Registered office	St Mary's Churchyard
	High Street
	Watford
	Hertfordshire
	WD17 2BE
Independent examiner	Gary Howard FCA
	Howard Wilson Chartered Accountants
	36 Crown Rise
	Watford
	Hertfordshire
	WD25 ONE
Bankers	CAF Bank
	25 Kings Hill Avenue
	West Mailing
	Kent
	ME19 4JQ
	Virgin Money
	Jubilee House
	Gosforth
	Newcastle Upon Tyne
	NE3 4PL
	United Trust Bank Limited
	One Ropemaker Street
	London
	EC2Y 9AW
Solicitors	Bates, Wells & Braithwaite
	2-6 Cannon Street
	London
	EC4M 6YH

Current financial year
		Unrestricted	Restricted	Total	Total
		funds	funds
		2021	2021	2021	2020
	Notes
Income and endowments from:
Donations and legacies	3	245,875	2,069	247,944	261,657
Advisory services	4	9,871	300,008	309,879	175,041
Investments	5	1,600	-	1,600	1,911
Other income	6	150	90	240	938
Total income		257,496	302,167	559,663	439,547
Expenditure on:
Advisory services	7	133,922	289,600	423,522	374,713
Net incoming resources before transfers		123,574	12,567	136,141	64,834
Gross transfers between funds		(860)	860	-	-
Net income for the year/
Net movement in funds		122,714	13,427	136,141	64,834
Fund balances at1April 2020		171,923	18,562	190,485	125,651
Fund balances at 31 March 2021		294,637	31,989	326,626	190,485

Prior financial year
		Unrestricted	Restricted	Total
		funds	funds
		2020	2020	2020
	Notes
Income and endowments from:
Donations and legacies	3	261,642	15	261,657
Advisory services	4	7,577	167,464	175,041
Investments	5	1,911		1,911
Other income	6	760	178	938
Total income		271,890	167,657	439,547
Expenditure on:
Advisory services	7	213,731	160,982	374,713
Net incoming resources before transfers		58,159	6,675	64,834
Net income for the year/
Net movement in funds		58,159	6,675	64,834
Fund balances at 1 April 2019		113,764	11,887	125,651
Fund balances at 31 March 2020		171,923	18,562	190,485

		2021		2020
	Notes
Fixed assets
Tangible assets	10				1,504
Current assets
Debtors	11	17,483		23,476
Cash at bank and in hand		422,149		236,269
		439,632		259,745
Creditors: amounts falling due within
one year	12	(63,652)		(12,286)
Net current assets			375,980		247,459
Total assets less current liabilities			375,980		248,963
Provisions for liabilities	13		(49,354)		(58,478)
Net assets			326,626		190,485
Income funds
Restricted funds	16		31,989		18,562
Unrestricted funds
General unrestricted funds		343,991		230,401
Pension reserve		(49,354)		(58,478)
			294,637		171,923
			326,626		190,485

				2021			2020
	Notes
Cash flows from operating activities
Cash generated from operations		19			184,280			35,643
Investing activities
Investment income received			1,600			1,911
Net cash generated from investing
activities					1,600			1,911
Net cash used in financing activities
Net increase in cash and cash equivalents					185,880			37,554
Cash and cash equivalents at beginning of year					236,269			198,715
Cash and cash equivalents at end of year					422,149			236,269

	Unrestricted	Restricted	Total	Unrestricted	Restricted	Total
	funds	funds		funds	funds
	2021	2021	2021	2020	2020	2020
Donations and gifts	2,185	2,069	4,254	1,706	15	1,721
Grants receivable for
core activities	243,690	-	243,690	259,936	-	259,936
	245,875	2,069	247,944	261,642	15	261,657
Grants receivable for
core activities
Watford Council Direct
Grant	204,190	-	204,190	204,190	-	204,190
Watford Council
Premises	39,500	-	39,500	39,500	-	39,500
Other	-	-	-	16,246	-	16,246
	243,690	-	243,690	259,936	-	259,936

4	Advisory services
		AdvisoryAdvisory
		servicesservices
		20212020
	Sales within charitable activities	17,32510,075
	Performance related grants	292,554164,966
		309,879	175,041
	Analysis by fund
	Unrestricted funds	9,8717,577
	Restricted funds	300,008	167,464
		309,879	175,041
	Performance related grants
	The Clothworkers Foundation	,850 4	21,500
	Hertfordshire Citizens Advice Service	,618 58	47,947
	Citizens Advice Bureau - National and Local	,775 114	33,093
	New Hope Watford	,834 32	32,834
	The Lawton Trust	,289 1	5,374
	Community Fund	,000 10	9,989
	Universal Credit	-	5,004
	Access to Justice - Community Justice Fund	,141 44	-
	Hertfordshire Community Foundation	,000 17	-
	Watford Health Trust	,345 1	8,324
	Other	,702 7	901
		,554 292	164,966
	Investments
		Unrestricted	Unrestricted
		funds	funds
		2021	2020
	Interest receivable	1,600	1,911

	Unrestricted	Restricted	Total	Unrestricted	Restricted	Total
	funds	funds		funds	funds
	2021	2021	2021	2020	2020	2020
Other income	150	90	240	760	178	938

	2021	2020
Staff costs	303,559	236,335
Depreciation and impairment	1,503	1,991
Other staff costs	1,076	513
Training	13,409	8,758
Project costs	8,430	10,135
Premises costs	39,500	39,500
Insurance	1,832	1,722
Repairs	432	5,036
Office costs	23,468	22,016
Computer costs	21,562	29,712
Travel expenses	1,179	11,172
General costs	3,549	2,031
Legal and professional costs	2,627	3,494
Bank charges and other finance costs	69	60
Governance costs	1,327	2,238
	423,522	374,713
Analysis by fund
Unrestricted funds	133,922
Restricted funds	289,600
	423,522
For the year ended 31 March 2020
Unrestricted funds		213,731
Restricted funds		160,982
		374,713

The average monthly number of employees during the year was:
	2021	2020
	Number	Number
Advice services	12	9
Management and administration	2	2
	14	11
Employment costs	2021	2020
Wages and salaries	271,190	211,423
Social security costs	17,457	13,741
Other pension costs	14,912	11,171
	303,559	236,335
There were no employees whose annual remuneration was 60,000 or more.

Tangible fixed assets
	Plant and machinery
Cost
At1April 2020	21	,981
At 31 March 2021	21	,981
Depreciation and impairment
At 1 April 2020	21	,981
At 31 March 2021	21	,981
Carrying amount
At 31 March 2021
		-
At 31 March 2020	1	,504

11	Debtors
			2021	2020
	Amounts falling due within one year:
	Trade debtors			17,805
	Other debtors		14,735	3,053
	Prepayments and accrued income		2,748	2,618
			17,483	23,476
12	Creditors: amounts falling due within one year
			2021	2020
		Notes
	Other taxation and social security		6,223	4,130
	Deferred income	14	51,048
	Trade creditors		456	2,955
	Other creditors		4,198	3,446
	Accruals and deferred income		1,727	1,755
			63,652	12,286
13	Provisions for liabilities		2021	2020
		Notes
	Retirement benefit obligations	15	49,354	58,478
			49,354	58,478
14	Deferred income
			2021	2020
	Other deferred income		51,048

Retirement benefit schemes			(Continued)
	31 March 2021	31 March 2020	31 March 2019
	(s)	(s)	(s)
Present value of provision	49,354	58,478	70,939
Reconciliation of opening and closing provisions		Period Ended 31Period Ended 31
		March 2021	March 2020
		(s)	(s)
Provision at start of period		,478 58	,939 70
Unwinding of the discount factor (interest expense)		,314 1	898
Deficit contribution paid		,126) (12	,773) (11
Remeasurements - impact of any change in assumptions		,688 1	,586) d
Remeasurements - amendments to the contribution schedule
Provision at end of period		,354 49:	,478 58;
Income and Expenditure Impact		Period Ended 31Period Ended 31
		March 2021	March 2020
		(s)	(s)
Interest expense		1,314	898
Remeasurements - impact of any change in assumptions		1,688	(1,586)
Remeasurements - amendments to the contribution schedule
Assumptions	31 March 2021 31 March 2020		31 March 2019
	% per annum % per annum		% per annum
Rate of discount	2.532.531.39

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17 Analysis of net assets between funds
	Unrestricted	Restricted	Total	Total
	funds	funds
	2021	2021	2021	2020
Fund balances at 31 March 2021 are
represented by:
Tangible assets				1,504
Current assets/(liabilities)	343,992	31,988	375,980	247,459
Provisions and pensions	(49,354)		(49,354)	(58,478)
	294,638	31,988	326,626	190,485
18Related party transactions
There were no disclosable related party transactions	during the year	(2020 - none).
19Cash generated from operations			2021	2020
Surplus for the year			136,141	64,834
Adjustments for:
Investment income recognised in statement of financial activities			(1,600)	,911) (1
Depreciation and impairment of tangible fixed assets			1,503	,991 1,
Difference between pension charge and cash contributions			(9,123)	,461) (12,
Movements in working capital:
Decrease/(increase) in debtors			5,993	,185) (18,
Increase in creditors			318	,375 1,
Increase in deferred income			51,048
Cash generated from operations			184,280	,643 35,
20Analysis of changes in net funds
The charity had no debt during the year.