|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|
##
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##
##
|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.|||||