Charity Registration No. 1111436 Scottish Charity No. SC040728 Company Registration No. 5123444 (England and Walesl COMMUNITY MONEY ADVICE LIMITED ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2022 *ABUZ35YR* 11101r2023 COMPANIES HOUSE COMMUNITY MONEY ADVICE LIMITED CONTENTS Page Trustees Teport statement of trustees responsibilrfies Indeperbjenl auditor's report Slalemenl of financial ath"¥￿"e5 Balance sheet 10 statement of cash flows 13 Notes to the finaneial statements COMMUNITY MONEY ADVICE LIMITED LEGAL AND ADMINISTRATIVE INFORMATION Diiectors and Trustegs H R Keales T D Jackson S E Vinson J S Mander Ms A Padfield (Appointed 13 January 20221 Secretary S E Vinson Charity nurnbèr 1111436 Company number 5123444 Princlpal address 18 Wle Cop Shrewsbury Shropshire SY1 1XB Registered office The Bamabas Centre Longden Coleham Shrewsbury Shiopshire SY3 7DN Auditors James Holyoak & Parker Limiled 1 Knights Court Archers Way Battlefield Enterprise P Shrewsbury SY1 3GA COMMUNITY MONEY ADVICE LIMITED STATEMENT OF TRUSTEES RESPONSIBILITIES FOR THE YEAR ENDED 31 MA Y 2022 The trustees. who are also the directors of Community Mgney Advice Limited for the purpose of company law. are responsible for preparing the Trustees Report and the financial slalemenls in accordance with applicable law and United Kingdom Accounb'ng Standards (United lQngdom Generally Accepted Accounting Prath.￿). Company Law requires the trustee5 to prepare financial statements lor each financial year which give a true and fair ew of the stste of affairs of the company and of the incoming resources arvj applicabon of resour￿s, induding the income and expenditure, of the charitable company for that year. In preparirvJ these financial stalemenls. the trustees are required to- - select suitable accounting poliues and then appty tt*m consisten￿Y', - observe the melhods and principles in the Chanties SORP" - make judgements and estimates that are reasonatAe and prudenl: slate whether applicable UK A￿0￿￿ting Stsndards have been folbwed. subject lo any material departures disclosed and explained in the financial stslements- and prepare the financial statements on the g￿ng concem basis unless il is inappropriate to presume that the company will continue in operath"on. The trustees are responsible for keeping adequate accounting records that disdose wlh ￿aSOnable accuracy at any lime the financial position ol the Company and enable them to ensure that the financial stslemerts comply with the Companies Acl 2006. They are a150 responsible foi saleguarding the assets of the company and hence for taking ￿asOnable steps for the prevents.on and detectson of fraud and other irregularrlr'es. COMMUNITY MONEY ADVICE LIMITED TRUSTEES REPORT (INCLUDING DIRECTORS, REPORT) FOR THE YEAR ENDED 31 MAY2022 The tru5tee5 wesenl their annual report and financial statemen15 for the year ended 31 May 2022. The financial statements have been prepared in accordance with the accounb.ng policies set out in note 1 to the financial statements and comply wrth the company's Igoverning documenll. the Companies Act 2006 and "Accounting and Reporting by Charities". Stslement of Recommended Practice applicable lo charities p￿pariftg their accounts In accordanee wth the Financial Reports"ng StarKlard applicable in the UK and Republic of Ireland IFRS 102)" leffeclive 1 January 20191. Objectives and activities The main objects of the charty are lo relieve poverty by providing athice and training lo community groups and non-profit making organisations in order them to assist persons who have been affected by debt. The main activities of the charity are the development of church based soclal and community action especially in the field of debt and money advice to people in need. Also the establishment of eomplelely free money a(Svice cenlers in every community In the nation together with publication of education and training materials related to the above activibes. In planning the activities of the charilable company the ¢Sirectors have considered the Charity Commission's guidance on public benefit_ The charily provides advice lo persons in debt and also provides training to debt advisors. In addition. the charity advises Govemment. the national press and TV on personal indebtedness. We SLJmrnarise our over￿1 aims in the statement. 'Freedom from Debt. hope for the fijIu￿.. Achlevements and perfomance In the year CMA centres helped 8950 families manage over £49 million of debt. 01 Ihese 32% go into repayment plans and a further 48% have their debts deared through an insdvency option. The centres a150 enabled clien15 gain over £790,000 of additional income. client feedback detailed 76% were less stressed and more motivated because of the advice and support we provide. The grant funding we had gained throughout 2021 has conb.nued to enable us to develop our services to centres. enhance the staff team. continLJe fedeveloping our beswke casework sofvlare to reduce the administratsve burden on advisers and provide training and DROS to both in house and third party debt advisers. In addition, we have implemented adviser access to dient credit reports at the touch of a button and begun to look 81 other additions lo Catalyst to streamline the advice prcKess. Our staff team has grown to 30 wth their varied roles continuing lo help, support and train both exisb.ng and new cenlres, staff. All of this is putting the foundations in place lo help prepare for Ihe expecte(I growth in demand for debt advice. espeo.ally face lo face where the provision nationally is diminishing_ CMA Connect 8nd CMA Hub, continLte lo grow the access lo debt advice especially for those in harder lo reach areas. Vve have tontsnued to creale new training courses- seen numerous new churches and comrnunity groups set-up CMA services to be ready for the forthcoming demand. and more. Developed a web based chalbol to be hosted on centre's websites enabling clients to access basic informakn.on before attending an advi￿ session. AJI of this has Nuired us to establish the enhanced management Structure and lake on new staff lo support a rapidly expan¢Jing workload. Extensive intemal consunth.on led to the establishment of a departmental structure consisting of.. Operations," CMA Hub Icenlral debl advice)." Business Development," Training", Adminislralion,. IT". and Policy. Continuing to appoint new slafflroles across the period has seen the CMA team grow 31 over the year. A strong structure and a strong team" we are confident and ready to help meet the money advice needs ol more people across the UK than ever before. CMA Head Office ha5 had an excits.ng period of development throughout the period, ma1￿Y in the administration and support of the growing CMA staff team, and the increasing enquiries and affiliations that are resulting from the Business Development and Operations Departments. Meg's role grew from one day per week as Head Office Administration Assistant lo two days per week as HR Administrator. Much work has been completed on Foyroll, staff handbook, expenses and staff leave revisions. and updating staff joining and induction proceLlures. COMMUNITY MONEY ADVICE LIMITED TRUSTEES REPORT ICONTINUED)IINCLUDING DIRECTORS, REPORT) FOR THE YEAR ENDED 31 MAY2022 Finance and accounting has seen the largest overhaul in the department to dale, wth a move from manual bookkeeping and accounting spreadsheets to full inlegration into QuidoBoDks online accounting SO￿￿e. This is a big slep fo￿ard for financial reporting. produth.on of the year end accounts and effiaency, and we managed a dual system for Ihe year lo ensure the transfer has been complete and effective. Adminislralion work has contsnued to be shaped by 9rovrth in other areas of CMA and the introduction of the IT Department has meant we have worked on handover of aspects of our IT work and maintained the system elements relating lo website content, and centre affiliations and closures. ￿ have worked on the overhaul of the Centre Resource5 fflembers, area of the CMA websrte and development of the CMA document register as part of the Document Control planning group. Illhilsl no CMA conference was held in the Aulumn of 2021. we administered a successful tw¢>day staff and trustee away day al that ts"me. which was a helpful and informative th.me together lo consider how we Continue lo best serve our CMA centres. Operdlions As things relucn lo a semblance of norniality in the posl-covid era, a great deal of work has been necessary lo review and re-eslablish (where requtredl our working protocols and relationships wrth our cenlres and build upon the 'Zoom' relationships thal have been forged wlh the many new centres who have affiliated with CMA since the early part of 2020 and one of the new things that CMA has introduced in 2022 are the regional meetings. As part ol our ongoing commitment to improving our service and in response to feedbat* from last years, Annual Survey. CMA has been rolling out geographically based regional netsvorking meetings Iled by the Osms'l since the beginning of 2022. These meelings have allowed our centres the opportunily to come together. share learning and provide support to one another as well as enjoying regular fellowship. This is proving lo be very popular and wll continue to be rolled OLrt across all of our regions by eaty 2023. in mid 2021. CMA rtcruiled three new OSMS as existing OSMS have moved to take up new r￿e$ with c￿ and a new region, East Anglia. was establi51￿1. The Operations Team now in¢ludes Specralist Support Mark•yers ISSMI who provide additional support across the ne￿ork via Adviceline, Catalyst support and DRO applications. A dedicated Operations Manager continues lo co-ordinate the services of the Operatbons Team, provKling a welcome bncrea5e in the SLPPOrt that we can now offer our cenlres. CMA Hub In numbers 835 clients seen through the PoundAdvice and Chatbot projects in last 18 months 100 Connect dienls helped in last 12 months 24 Connect Centres referrin 39 clients come through Chatbot 10 members of the team 814.3 FT equivalents 10-15 new clients dealt wth per week The Hub comprises of three current projects" a) the Connect projeet." b) Delivering a contract for Pound Advice.. cl delivering advice for client accessing CMA via the ChattK>t Connect.. We have continued to add new Connect ¢entre5 to the CMA family and we now have 24 referring eenlre5. We have recently delivered admin training to help Money Menlors feel more confident in how to marbage the practical side of having a client. We have employed a staff member for the sole purpose of working wth Connect clients enabling us to increase our capacty. We have rewrrtten the handbook for Centre Managers and Money Mentors this year as processes have evolved and we have also augmenled Ihe training to 1.5 dayE which has helped give stronger preparation. COMMUNITY MONEY ADVICE LIMITED TRUSTEES REPORT (CONTINUED){INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 MAY2022 PoundAdvice'. We continue to work with L8Q Housing group and We are Digital in ddivering remote debt advice IhroughoLJt London and the Southeast lo around 40-5cI new clients per month. This is a combinah'on of beneffits and debt advice as well as grant applicalitsns and we gel some 9￿at financial and emokn.onal outcomes for clients through this project alongside a challenge for many of them to engage with us. Chalbot_ This has had a number of challenges over this yeaf but we have had a small stream of Clients coming Ihrough an¢J engaging. Around 30% have been able to be Iransferred to Cenlres in the network foi face lo fa¢e advice bul the other 70% have been from areas wheie there is no CMA centre and so we have seen them in the Hub. Marketing now needs to lake place as well as creating an income stream to enable us to make the most of Ihis opportunity. We hope that in lime we wll be able to tsrgel areas where Ihere FS 9gnif￿an1 lake up but no centre. The Hub team is a highly motivated. efficient team who do a brilliant pb in helping hundreds of Feople each year with their debt and supporting the network of Connect Cenlres. Nelwort Development and Webinars The objective is growing the number of CMA Debt Advice an(J C Connect Cenlres across the UK. We commenced by creating a database of churches, food banks and community groups across the UK (now slanding at over 1000 contacts). This is used re9ularfy to send invitations out for CW webinars, vthich commeneed wi March arKI monthly thereafter, with plans lo continue until the end ol the year. The webinars have so far seen 105 organisations attend. As a result of these conversatrons. 16 people have volunteered to Work in existing CMA Centres, 18 new ￿ntreS have affiliated, 51 where the enquiry is still bubbling but nol yel ready to work with us and 44 rw• enquiries that we are working with. We are éelighted with how this has developed so far and look forward to more centres affilialing to the CMA Family TTaining The last year has been like no other for many of us. CMA training has seen an exponential rise the demand for our training as people are available to train (due lo tockdown and fvdoughl and debt centres kn¢)wing that now is the time to train people, ready for the tsunami of debt Ihat we are expecting to hit this nation. CMA training has embraced the new landscape by launching and developiThJ an amazing online training programme which has seen 1,468 people trained over 169 training days during this financial year. These figures are UnP￿Ceden1ed in CMA history aniy although they wll fall as life ￿turnS lo some nomiality, it shows us that the demand for training is still evef presenl and wll contsnue into the fuiure. Along wlh Debt Free London. we have developed a Level 4 Speaalisl debt advice training programme which Is accTedited by MaPS and we have started delivering to delegates. We continue lo deliver successful Budget Coach training courses and Money Mentor Iraining for CMA Connect centres. This last year has also seen us able lo intrease the dedicated staffing hours given to CMA trainirKJ from 16 to 48, which puts us in a great position to drive and develop the training programme into the future. Fundraising 11 has been another busy year for applicaiions submrtied to Charrtable Trusts and Foundations. 14 applications have been Yvritten and submitted wth Six being successful and be￿een them raising over É190.000 for CMA. Some have been awarded for 'core costs- which includes staff wages and other central expenditure, and some for specific projects such a5 the development of Catalyst and for the opening of new ¢entres in Scoland. Two were lo support CMA development and respond lo the COVID-19 pandemic an(1 tsyo of Ihe grants were spread ove¥ two years. We are really grateful to all our partners vtho supw)rt us fIna￿lalIY and to God for His faithful provision. Our centres will always be at the heart of everything th* we do. and CMA remains committed to ensuring we cantinue to provide each of our cent￿S wth Ihe best possible service at all times. based upon indwidual needs, whilst seeking always to improve and enhance what we do. This enables our centres lo help thousands of familEs become debt free giwng them real hope for the future. COMMUNITY MONEY ADVICE LIMITED TRUSTEES REPORT {CONTINUED)(INCLUDING DIRECTORS, REPORT) FOR THE YEAR ENDED 31 MAY2022 Financial review The total income for the year was £818.544 {2021- £719.8471 and total expenditure on charitsble activities amounted to £628,84312021." £439,338). At the year end the charity had £494.551 12021- £271.407) in unrestrbcted reserves and £4,54712021". £59.0561 in restricted reserves. The trustees have assessed the major risks to which the company is exposed. and are satisfied that syslems are in place to mitigate exposure to the major risks. Governlng Document Community Money Advi￿ Limrted is a company limited by guarantee govemed by ils Memorandum and Articles ofAssocialion dated 4th May 20Q4 which have subsequenuy been amended. It is registered as a charity wth the Chality Commission. Members of the charrtable company guafantee to tt)ntn"bule amounts not exceeding £10 to the assets of the charitable company in the event of a wnding up. The Iwstees, who are also the directors for the purpose of company I￿. and who served duriThJ the year We￿.. H R Keales T D Jackson S E Vinson H R Wilson J S Mander Ms A Padfield (Resgned 16 October 20211 IApFM)inled 13 January 20221 All trustees keep the composthon of the board under rewew and will seek lo appoint additional members with appropriate skills and expertise should the need arise. The trustee board aims to have a broad representstion of trustees. The opportunity for new trustees is is adveth.sed acioss the CMA netsvork together wth the oullie of the type of person required. Generally. trustees will h8ve a knowledge of the seclor. of a specific skil sel that is needed to be a Christian. Interested parties are given details of the backgrouna of the charitable company in order to make them awa￿ of current th￿"e5. Once a year the Trustees review the salaries of the team and agree an increase th* covers the anr•Jal inflation plu5 any regradings. 11 there are any role changes in the year the Ch￿f EX￿ can agree Ihose salary increases as they occur. Dlsclosvre of information to audrtor Each of the Iruslee5 has confirmed that there is no irrformatson of which they a￿ aware which is relevant lo the audit, but ol which the auditor is unaware. They have lurther confirmed that they have taken aprxopriale steps to identify such relevant information and to establish that the audrtor is aware of such infom)alion. The trustees report was approved by Ihe Boar(J of Trustees. H R Keates Board of trustees Dated". 7 December 2022 COMMUNITY MONEY ADVICE LIMITED INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF COMMUNIVI MONEY ADVICE LIMITED Oplnlon We have audited the financial statements of Community Money Advi￿ Limited (the 'wmpany'l for the year ended 31 May 2022 which comprise the statement of finanual aclivib'es. the balance sheet. the Statement of cash flows and notes to the financial slalemenls, induding significanl accountsng px)Iicies The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accountsng Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applKable in Ihe UK and Republic ol Irel8nd {United Kingdom Generally Accepted Accounting Practice). In our opinion, the financial 5ts1emenls'. give a true and fair view of the stste of the charitable companys affairs as at 31 May 2022 and d its incoming resources and application of resources. for the year Ihen ended.. have been properfy prepared in aco)rdance with Unrted kn'ngdom Generally Accepted Accounting Practi￿". and have been prepared in accordance wilh the requirements of the Companies Act 20(6. Basis for opinion We conducted our audit in accordance with lnlemats.onal Slandards on Audiiing IUKI IISAS IUKII and applicable law. Oui responsibilities under those standards are fvrther described in the Audrtofs ￿sponsibl1￿1eS for the audit ol the lin8nci81 statements section of our report. We are independent of the company in accordance with the ethical requirements that are rdevanl lo (￿r audit of the financial ststements in the UK, including the FRC'S Ethical Standard, and we have fulfilled our other elhiGal responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is suffi(ient and appropriate to provide 8 basis for our opinion. Conclu5ion5 relating to going concem In auditing the financial slalements, we have corKluded that the trustees use of the going concern basis ol accounting in the preparation of the financial slalements is appropriate. Based on the work we have perfomied. we have not identified any material urtertainlies relating lo events or onditions that, individually or collectively, may cast signfficanl doubt on the company's ability lo continue 85 8 going concem for a period of at least tsyelve M￿th$ from when the financial statements are authorised for issue. Our responsibilities and the responsibilibes of the trustees v*ith respect lo going concern are described in the relevant sections of this report. Other infommtion The other information comprises the informats.on included in the annual report other Ihan the fInar￿la[ statements and our auditor's report thereon. The trustees are responsible for the other infomialion contained within the annual report. Our opinion on the financial Statements does not eover the other informats.on and we do not eXp￿sS 8ny form of assurance condusion thereon. Our responsibilty is to read the other information and. in doing so, consider whether the other information is materially inconsistent v*ith the financial statements or our knowledge obt8ined in the course of the audit. or otherwise appears to be materially misstated. If we ldents.fy such material inconsislen¢ies or apparent material misstalemenls, we are required lo determine whether thi5 gives rise to a material mi5slalement in the financial slalements themselves. If. based on the work we have perfomied, we condude that there is a material misstatement of this other informabon, we are required to report that fact. We have nothing lo report in this regard. Matters on whlch we are required to report by exception We have nothing lo report in ￿SpeCt of the followng matters in ￿[all0n to %thich the Charities {Acwunls and Reports) Regulations 2008 require us to report lo you if. in our opinion.. the information given in the finanual statements is irKonsistent in any material respect wth the trustees report.. or sufficient accounling records have not been kept- or Ihe financial statements are rk)t in agreement 7Mth the accounting records- or we have not received all the inlcwiation and explanations we require for our audit. COMMUNITY MONEY ADVICE LIMITED INDEPENDENT AUDITOR'S REPORT (CONTINUED TO THE TRUSTEES OF COMMUNITY MONEY ADVICE LIMITED Rèsponsibilities of trustees As explained more fully in the stslemenl of trustees responsibilities, the trustees, who are a150 the directors of the company for the purpose of company law. are responsible for Ihe preparats.on of the financial statements and for being sats'sf1￿ that they give a trLJe and fair view. and for such internal control as the trustees determine is necessary lo enable the preparation of financial ststements that are free from material misstalemenl. whether due to fraud or error. In preparing the ffinanaal statements. the Iruslees are reswnsible for assessing the company's ability lo Continue as a going mncern. dl￿19$1ng. as applicable. matters related to going concern and using the going concern basis of accounting unless the trustees either inlend to liquidate the challtable company or lo cease operations. or have no realistic altemative but to do so. Auditor's responsibilities lor the audit of the financial statements We have been appointed as auditor under section 144 01 the charib.es Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder. Our objectives a￿ lo obtain reasonable assurance about whether the financial statements as a Who￿ are free from rnalerial misslalemenl, whether due to fraud or error, and to issue an auditor'5 report that includes our opinion. Reasonable assurance Is a high level of assurance but is not a guarantee that an audit Conduct￿ in accordance th ISAS IUKI wll always delecl a material misstatement when it exists. Misslalements can arise trt)m fraud or eiror and are considered material rf, individually or in the aggregate. they could re8son8bly be expected lo infiuen the economie decisions of users taken on the basis of these financial statements. The extent to w￿ch our procedures are CaPa￿e of detecbng irregularibes. induding fraud, is detailed bdow. The audit team obtained an understanding of the legal and regulatory frameworks that are applicable to the Company and determined that the most significant are those tt)at relate to the reporting framework IFRS102 and the Companies Act 20061. the ￿levant lax comFAiance regulations. employment law. Health and Safety Regulations and the EU General Dala Piolecli¢xs Regulation IGDPRI. We understood how the company is complying wth these framewths by making enquiries of mana9ement and those responsible for legal and compliance procedures. We assessed the susceplibilty of Ihe Company's financial ststements lo material misslalemenl, including how fraud might occur by meeting with key management to understand where they considered there was a susceptito'lily to fraud. Based on our understanding, our procedures involved enquiries of management and those charg8ts with gOvernar￿e, manual journal entry teskn"ng. cashbook reviews for large and unusual rtems and the chalknge of significant accountin9 e51imales used in prepanng the financial statemenls_ A further descripty'on of our responsibilits'es is available on the Finanaal Reporting Council's website al.. https.'Il www.frc.org.uklauditorsresponsibilities This description fomis part of our auditor's report. COMMUNITY MONEY ADVICE LIMITED INDEPENDENT AUDITOR'S REPORT (CONTINUED TO THE TRUSTEES OF COMMUNITY MONEY ADVICE LIMITED This report is made solely to the company's members, as a body, in aecoidance with section 391 of the Companies Act 2014. Our audit work has been undertaken so that we might stste to the cornpany's members those matters we are required lo slate to them in an 8udilorfs report and for no other purpose. To the fullest exient permitted by law, we do not accept or assume responsibility lo anyone olhei than the company arbd the company's members as a body, f our aud(( work. lor this report. or for the opinions we have formed. Mr Robert Humphrgys BEng FCA (Senior Ststutory Auditor) for and on behalf of James Holyoak & Parker Limited 9 January 2023 Chartered Accountants Statutory Auditor 1 Knights Ccmjrt Archers Way Battlefield Enterprise Park Shrewsbury SY1 3GA James Holyoak & Parker Limited is eligible for apwntmenl as audrtor of the company by Virtue of its eligibilrty for appointment as auditor of a company urKJer section 1212 of the CompaniesAct 2006. COMMUNITY MONEY ADVICE LIMITED STATEMENT OF FINANCIALACTIVrnES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MA Y2022 fun nds fur￿5 fuTrJ5 2022 2022 2021 2021 2021 Don8tions Chairtabb 8¢bV￿èA Investments 8S.379 425.389 37 16, 192.378 102.043 617.767 37 e61.013 14 14 Totsi I￿orn• 695.112 44325 79.107 818.544 510.805 209.D42 719.847 Raising lund$ 1.188 charliab￿ activit￿5 1281 I2z￿ 628.843 266.041 172.2&7 438,338 Total resources *¥pend￿d 9)12B1 122. 628W43 267.229 172.297 439,526 Ner Incom1￿￿10￿190ing) reswrctt b•faTrtr*nth IWJ.831 39.319 143.4491 189.701 243.576 36,745 280,321 COMMUNITY MONEY ADVICE LIMITED STATEMENT OF FINANCIALACTMTIES ICONTINUEDI INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR EAIDED 31 MAY2022 Nat incrafflinglloutgoingl r*Aourys bplDr• 39.319 {43.449) 189,701 243,576 3S,745 280,321 Grosslian5fers be￿eeft fu￿$ 11.C60 (11.C60) 18,NJS) NBt incomèll4xp*rtditur41 forthe yerrfl Ne¢ mo¥ernenl In IuDd5 39.319 IS4￿) 1È9.701 YJ5,571 44,750 28D.321 Fund ba￿nCeS al 1 June Z021 271.407 3S,836 14, 50.142 Fund balances a131 May 2022 47629B 39.319 4.S47 S20.164 271,407 330.463 The strtemnl offirorKial JI Incorne Bnd eXPe￿I￿e from The slaten*nl offinanci81 reqthw*Msknan acuthurthrtre Cwnp3r*5Act2WS. COMMUNITY MONEY ADVICE LIMITED BALANCE SHEET ASAT31 MAY2022 2022 2021 Notes Currènt assets Deblors Cash at bank and in haThJ 12 80,112 495.875 60,068 336,246 575.987 3￿,314 Creditors: amounts falling due within ofle year 13 155.8231 165,8511 Net current assets 520.164 330,463 Income ￿ndS Reslricled funds Unrestricle Designated lunds General unrestricted funds 16 4.547 59,056 15 39,319 476,298 271.407 494.551 271,407 520,164 330.463 The company is entitled lo the exemption frorn the audit cequiremenl contsined in section 477 of the Companies Act 2006, for the year ended 31 May 2022. although an audit has been carried out under section 144 of the Charities Art2011. The d1￿CtorS acknowledge their responsibilities for complying wrth the requirements of the Companies Act 2006 with respect to accounbng records and the preparation of financial ststements. The members have not requi￿ the company to obtain 8n audrt of rts financial statements under Ihe requiremenls of the Companies Act 20C6, for the year in queSt￿n in accord8nce with seclion 476. These financial statements have been prepared in accor(Jance with the provisions applicable lo companies subject to the small companies regime. The financial Statements were approved ty Ihe Truslees on 7 December 2022 H R Keales Trustee T D Jackson Trustee Company Regl$tration No. 5123444 10- COMMUNITY MONEY ADVICE LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY2022 Accounting policies Charity Infomiation Communily Money Advice Limited is a private compary limited by guarantee incorporated in England and Wales. The registered office is The Barnabas Centre. Lollgden Coleham. Shrewsbury, Shropshire, SY3 7DN. 1.1 Accountlng convention The financial slatem8nls have been prepared in accordance wrth the company's thles of Association and Memorandum, the Companies Acl 2006 and 'Accounling and Reporting by Charits'es.. Statement ol Recomrnended Practice applicable to charitses prep8ring their accounts in accordance wth the Financial Reporting Standard applicable in the UK and Republic of I￿land IFRS 1021 leffects've 1 January 2019)" The company is a Public Benefit Entity as defined by FRS 102. The financial stslements ace prepared in sleding, which is the functional currency of the company. Monetary amounts in these financial ststemenls are rounded to the nearest £. The financial slalemenls have been prepared under the historical cost convention. Imtsdified to include the revaluation of freehold prcyerties and to include inveslment properties and certain finanual in5truwents at fair valuel. The prinupal accounlino policies adopted are set out below. 1.2 Going concern Al the lime of approving the finanual statements, the trustees have a reasonable expectation that the company has adequate ￿SoUrceS to continue in operational existence for the fo￿see8￿1e future. Thus the trustees ¢onlinue lo aéopl the going concern basis of accounting in pieparin9 the financial statements. 1.3 Charitable funds Unreslrieled lunds are aVaila￿e for use at the discret￿n of the tnjstees in fvrtherance of their charitable objectives. Reslricled funds are subject lo specific Cond￿"0n$ by donors as to how they may be used. The purposes and uses of the reslncted funds a￿ set CArt in the notes to the financial statements. 1.4 Income Income 15 recognised when the company is legally entitled lo it after any performance corKlitions have been mel. the amounts Can be measured reliably. and il Is probable that income wll be received. Cash donati¢)ns ale ￿OgnISed on receipt. other donations are recognised once the company has been notifie¢J of the donation, unle55 performance condth.ons require deferral of the amount. Incorne tax recoverable in relats.on lo donations received under GiftA*d or deeds of covenant is recognised at the bme of the donation. Grants, where entiilement is not Con￿￿onal on the delivery of a speufic perfom)ance by the charity. are rewgnised when the Charity becomes unconditionally enliued to the grant. Where entitlement is dependent on Ihe fiAfilment of one or more specified condrti(M)s, grants receNed by the charity are recognised and taken into revenue unless the condthons are within the charity's control and uncertainty exists as to whether the conditions will be fuffilled. 1.5 Expenditure Expenses are included in the financial statements as they become receNable or due. Expenses include VAT where applicable as the company cannot redaim r(. 11 COMMUNITY MONEY ADVICE LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MAY2022 Accounting policies Icontinuedl 1.6 Cash and cash equivalents Cash and cash equivalents include cash in hand. deFx)sits held at call wlh banks. other short-term liquid investments wlh original malurilies of three months or less. and bank overdrafts. Bank overdrafts are shown thin borrowings in current liabilities. 1.7 Financial Instruments The company has elected to apply the provisions of Section 11 'Basic Financk41 Instruments. aThJ Section 12 'OlheT Financial Instruments Issues, of FRS 102 to all of rts finanual instruments. Financial instruments are recognised in the ccrfnpany's balan￿ sheet when Ihe company bewmes party to the contractual provisions of the instrumenl. Financial as5els and liabilibes are offset, wilh the net amounts presented in the financial stalemenls. when there 15 8 legally enforceable right 10 Set off the recognised amounts and there is an intention to settle on a nel basis or lo realise the asset and settle the liabilty Simultaneou￿Y. Basic financial assets Basic financial assets. which include debtols and cash and bank balances. are ini11811y measured at transaction price induding transaction costs and a￿ Subsequent￿ carrietl al amortis& cost using the effective interest method unless the arrangement constitutes a finanung transaction. where the transaction is measuied at Ihe present value of the fvtU￿ receipts discountecl at a market rale of interest. Financial assets lassified as receivable within one year are aM0￿'sed. 1.8 Taxation The chaiity is an exempt charity wlhin the meaning of schedule 3 of the Charities Act 2Q11 and is considered lo pass the lesls sel out in Paragraph 1 Schedule 6 Finan￿ Act 2010 and therefore il meels the de￿illon of a charitable company for UK corporatr.on tsx purposes. 1.9 Ernployee beneffts The cost of any unused IKJliday ents"tlemenl is recognised in the penod in which the employee's sejwices are received. Termination benefls are wognised immediately as an expense when the company is demonstrably committed to temiinale the employment of an employee or to provide lerminalion beneffts. 12- COMMUNITY MONEY ADVICE LIMITED STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MAY2022 2022 2021 as reststed Notes Cash Ilows from operating a¢tivitles Cash generated from operations 19 159.615 218,156 Investing activities Investment income received 14 37 Net cash generated frorn investirig activities 14 37 Net cash used in financing activities Net increase in cash and cash equivalents 159.629 218.193 Cash and cash equivalenls al beginniw of year 336,246 118,053 Cash and cash equivalents at end of year 495.875 336.246 13- COMMUNITY MONEY ADVICE LIMITED STATEMENT OF CASH FLOWS (CONTINUED FOR THE YEAR ENDED 31 MAY2022 Crltlcal accountlng estlmates and ludgements In the application of the company's accounting policies. the trustees a￿ required to make judgements, eslimales and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and asswated assumptsons are base(J or) histofical experience and other factors that are COn￿dered lo be relevant. Actual re5ulls rnay differ from these estimates. The estimates and underlying assumpbon5 are reviewed on an ongoing basis. Revisions to accounting estimates a￿ recognised In the period in which the estimate is ￿￿se{l where the revision affects cnly that period. or in the period of the revision and lulure peri￿*s w*ere the revision affects both current and future periods. Donatlons Unrestricted Restricted funds funds Total Unrestricted funds Reslricled ftjnds Total 2022 2022 2022 2021 2021 2021 Donations and gifts 34.085 6.505 40,590 85.379 16.664 102,043 Charitable activities Grants Affiliates Conference fees & training Other income Total 2021 Sales within charilable activities 132.242 181.226 74.370 390.102 777.940 617,767 Analysis by fund Unre51ricled funds Designated funds Restricted funds 60.000 181.226 74,010 345.777 661.013 44.325 44.325 72,602 72.242 360 132,242 181,226 74,370 390,102 777,940 For the year ended 31 May 2021 Unreslricled funds Resth"cted funds 145.1 C6 122,696 157,587 425,389 192,378 192.378 192.378 145,106 122,696 157,587 617,767 14- COMMUNITY MONEY ADVICE LIMITED STATEMENT OF CASH FLOWS (CONTINUED) FOR THE YEAR ENDED 31 MAY 2022 Investments Unfestricted Unrestricted funds lunds 2022 2021 Interest receivable 14 37 Ralslng funds Total Unrestricted funds 2022 2021 ndraisin and Other fundraising costs 1.188 1.188 Charitable activities Unrestricted Designated Restricted Total 2021 Staff costs Contractors Training tutor fees Advice UK conferen￿ costs Marketing and PR Travel expenses Hospilalily Postage, telephone and office costs Insurance Bank charges IT costs including Caialyst Accountancy Audtl Client support costs Charita￿e Giving 380.284 16,840 7.499 1.600 6,079 799 3.071 1.142 19,908 62,742 6.125 443.026 22,965 7.499 1.600 6,079 799 3.071 1.142 20,874 1,166 929 60.492 294,351 23.431 1,569 430 550 8.488 128 38,244 257 138 62,152 30 8.570 282 929 43.926 16.566 6.800 6.800 29.985 22.416 29,985 5,890 11,520 501.281 5,OL 122.5 628.843 438.338 15- COMMUNITY MONEY ADVICE LIMITED STATEMENT OF CASH FLOWS ICONTINUED) FOR THE YEAR ENDED 31 MAY2022 Trustees No payments were made during the year or the prirx year in respect of the reimbursement of Iruslee expenses. Auditors. remuneration The analysis of auditors remuneratiLM is as follows- 2022 2021 Fees payable lo the company's auditor and its associales for the audit of the company's annual accounts 6,800 4,000 10 Employees The average m￿thlY number of emFAoyees during the year vras.. 2022 Number 2021 Number CharitstAeActwities Administration 21 Total 24 Ernployment Costs Wages and salaries 443,026 294,351 There were no employees wh¢)se annual remufterat￿n vrds £60.000 oi more. 11 Taxation Tlie charity is an exempt charity within the meaning of 5cheéule 3 of the Charibes Act 2011 and is considered to pass the tests set out in Paragraph 1 Schedule 6 Finance Act 2010 and therefore il meets the defnitr'on of a chaIrta￿e company for UK corporat￿n tsx purposes. 12 Debtor5 2022 2021 Amounts falling due within one year: Prepayments and accrugd income 80,112 60,068 16- COMMUNITY MONEY ADVICE LIMITED STATEMENT OF CASH FLOWS (CONTINUED) FOR THE YEAR ENDED 31 MAY2022 13 CreditO￿- amounts falling due within one year 2022 2021 Notes Other taxation and social security Deferied income Accwals and deferred income 5.818 27,455 22,550 4.132 40.367 21,352 14 55.623 65.851 14 Deferred income 2022 2021 Arising from government giant5 Other deferred income 19.300 8,155 23,967 16.400 27.455 40,367 Deferred income is included in the finanoal slatements as follows.. 2022 2021 Deferred income is included wthin.. Curreni liabilities 27.455 40,367 Movements in Ihe year. Deferred income at 1 June 2021 Released Irom previcyjs peric*Js 40,367 {12.912 75,847 135,4801 Deferred income at 31 May 2022 27,455 40,367 16 Deslgnated funds The income funds of the charity include the folhmng designated frjnds whKh have been set aside out of unrestricted funds by the trustees for speciffic purposes.. lknvement in fitnds Incoming Resource5 Balance at expended 31 May 2022 ealance at 1 June 2021 Kenya Trust Fund 22,162 22.163 {5.006) 17,156 22,163 44,325 (5,006 39,319 17- COMMUNITY MONEY ADVICE LIMITED STATEMENT OF CASH FLOWS (CONTINUED) FOR THE YEAR ENDED 31 MAY2022 16 Restricted funds The income fvnds of the charity include restricted fvnds ￿mPrIsIng the followng unexpended balan￿S of donations and grants held on trust foi specffic purtxjses: Movement In funds In¢omin9 Resources Balance at rp50Uf¢tr$ expended 31 May 2022 Balance at 1 JLFne 2021 Centre Fees Catalyst Trust Fund Community Fund Scotland Ads 435 CMA 25th Anniversary 11,060 9.950 11,924 16.499 9,623 111,0601 19,9501 110,4611 193,6701 15.890) 12.5851 6,260 69,567 7,723 {7.6041 3,733 90 605 2,675 605 59,056 79,107 1133,616) 4,547 Trust Fund To support ￿ntre$ arKI clients in finanaal drfficulty. Catalyst Funds given lo cover the Changes arKI updates made to the Calatysl System. Community Fund Funds received to develop the Connect ￿ntre$ as an allemative basis of providing debt advice al a local level. Scottish Funds Provision of Scottish specific services. Acts 435 Funds received to direcuy meet clients needs CMA 25th Annlversary Funds to commemorate 25 years of CMA in thè anniversary year conferenee. 18- COMMUNITh MONEY ADVICE LIMITEO STATEMENT OF CASH FLOWS ICONTINUEDI FOR ThE YEAR ENDED 31 AIAY2022 17 AnalyslB of net4uots bthrn•n Toki lundB 2022 lunts fur￿$ 2021 2022 2Q22 2021 2021 Fund babrws al 31 May 2022 CuTreniaSsetsiiikqtMlitiesl 477.435 39.319 S20.164 2B3.135 47,328 330,463 477.4ZS 39.319 3.420 S20.164 2￿.fj35 47.328 330,4S3 19- COMMUNITY MONEY ADVICE LIMITED STATEMENT OF CASH FLOWS (CONTINUED) FOR THE YEAR ENDED 31 MAY2022 18 Related party transactions Trustee Remuneration During the year the charity paid ￿Muneration and fee5 to one of the directors and key m8nagemenl personnel of the charity as follows-. 2022 2021 Heather Keales Salaries and wages Social security Employerf5 national in5uiance 46,290 5,171 1,389 44,652 4,948 1,340 52,850 50,940 COMMUNITY MONEY ADVICE LIMITED STATEMENT OF CASH FLOWS (CONTINUED) FOR THE YEAR ENDED 31 MAY2022 (Continued) Transactions with related parties During the year the company entered into the foll￿￿ng transactions wth rel*ed parties.. Purchase of goody 2022 2021 The Fayre 10,551 12,327 10,551 12,327 The Fay￿ is a joint partnership between H Keales and her partner T Keates. The payments are in respect lo advertising and graphic design, and are paid on a fair market value. 21 COMMUNITY MONEY ADVICE LIMITED STATEMENT OF CASH FLOWS (CONTINUED) FOR THE YEAR ENDED 31 MAY2022 19 Cash generated from operations 2022 2021 Surplus for the year 189,701 280.321 Adjustments for". Investment income reco9nised in stslemenl of financial activities 1141 1371 Movements in working capital. Ilncreasel in debtors Increase in creditors IDecreasel in deferred In￿Me {20.0441 2.884 (12,9121 (49,2251 22,577 135,4801 Cash generated from operations 159,615 216,156 20 Analysis of change$ in net lunds The company had no debt durirvj the year.