##
##
|Trustees||J Clack||||||
|---|---|---|---|---|---|---|---|
|||S Mercer||||||
|||R Rosenberg||- co-opted||||
|||J Fielding||||||
|||SWilliams||||||
|||LGoldberg|- co-opted|||(Appointed|22 February 2021)|
|||AWalters -|co-opted|||(Appointed|22 February 2021)|
|||A Shafiq||||(Appointed|27 September 2021)|
|Secretary||SWilliams||||||
|Charity number||1112758||||||
|Company|number|05386480||||||
|Principal address||The Charity|operates|||virtually||
|||Correspondence|||to:|||
|||PO Box526||||||
|||Leeds||||||
|||LS17 1NS||||||
|Registered|office|Carlton
House||||||
|||Grammar
School|||Street|||
|||Bradford||||||
|||BD1 4NS||||||
|Auditor||Alison Wnalley||FCA||||
|||Naylor Wintersgill|||Limited|||
|||Carlton House||||||
|||Bradford||||||
|||BD1 4NS||||||
|Bankers||Co-operative||Bank pic||||
|||PO Box250||||||
|||Delf House||||||
|||Southway||||||
|||Skelmersdale||||||
|||WN8 6WT||||||
|||Unity Trust|Bank|||||
|||Nine Brindleyplace||||||
|||Birmingham||||||
|||B12HB||||||
##
|||Page|
|---|---|---|
|Trustees report||1-6|
|Statement
ofTrustees|responsibilities||
|Independent
auditor's|report|10-12|
|Statement
offinancial|activities|13|
|Balance sheet||14|
|Statement
ofcash flows||15|
|Notes to the financial|statements|16-29|
##
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##
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##
##
||||Unrestricted|Restricted||Unrestricted|Restricted||
|---|---|---|---|---|---|---|---|---|
||||funds|funds|Total|funds|funds|Total|
||||2021|2021|2021|2020|2020|2020|
|||Notes|f|f||F|6|E|
|ittgmtgfLffpdtt;|||||||||
|Donations
and|||||||||
|legacies|||12,530|411,509|424,039|22,675|99,293|121,968|
|Income from|||||||||
|charitable
activities|||549,676|13,208|562,884|415,361|9,500|424,861|
|Investments|||4,606||4,606|4,365||4,365|
|Total income|||566,812|424,717|991,529|442,401|108,793|551,194|
|Ezuaitditgf
on:|||||||||
|Expenditure
on|||||||||
|charitable
activities||6|400,874|275,000|675,874|402,042|108,793|510,835|
|Net income for|the year/||||||||
|Net movement|in funds||165,938|149,717|315,655|40,359||40,359|
|Fund balances at|||||||||
|1 January 2021|||686,976||686,976|646,617||646,617|
|Fund balances|at||||||||
|31 December|||||||||
|2021|||852,914|149,717|1,002,631|686,976||686,976|
##
##
||||||2021||2020||
|---|---|---|---|---|---|---|---|---|
|||||Notes|5||6||
|Fixed assets|||||||||
|Tangible assets||||||22,858||3,913|
|Current assets|||||||||
|Debtors|||||88,877||111,662||
|Cash at bank and|in|hand|||908,534||610,090||
||||||997,411||721,752||
|Creditors: amounts||falling due within|||||||
|one year||||14|(17,638)||(38,689)||
|Net current assets||||||979,773||683,063|
|Total assets less|current||liabilities|||1,002,631||686,976|
|Income funds|||||||||
|Restricted
funds||||||149,717|||
|Unrestricted
funds|||||||||
|Designated
funds|||||165,968||140,903||
|General
unrestdicted||funds|||686,946||546,073||
|||||||852,914||686,976|
|||||||1,002,631||686,976|
##
##
|||||2021||2020||
|---|---|---|---|---|---|---|---|
||||Notes|6||||
|Cash flows from operating||activities||||||
|Cash generated
from operations|||22||316,978||44,971|
|Investing|activities|||||||
|Purchase|oftangible
fixed assets|||(25,140)||(659)||
|Investment|income received|||4,606||4,365||
|Net cash|(used in)/generated
from|||||||
|investing|activities||||(20,534)||3,706|
|Net cash|used in financing|activities||||||
|Net increase in cash and cash equivalents|||||298,444||48,677|
|Cash and|cash equivalents|at beginning|ofyear||610,090||561,413|
|Cash and|cash equivalents|at end of|year||908,534||610,090|
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
|Donatio|ns
and leg|acies|||||||
|---|---|---|---|---|---|---|---|---|
||||Unrestricted|Restricted|Total|Unrestricted|Restricted|Total|
||||funds|funds||funds|funds||
||||2021
f|2021
f.|2021f|2020f|2020|2020
f|
|Donations
and gifts|||12,530||12,530|22,675||22,675|
|Grant listed below||||411,509|411,509||99,293|99,293|
||||12,530|411,509|424,039|22,675|99,293|121,968|
|Grants|receivable|for|||||||
|core activities|||||||||
|Money|and Pensions||||||||
|Service|(Networking|and|||||||
|Information
Sharing|||||||||
|Project)||||15,617|15,617||56,050|56,050|
|Money Advice Trust|||||||||
|(Quality
Improvement
and CPD Projects)||||47,942|47,942||41,243|41,243|
|Money|and Pensions||||||||
|Service|(Debt Relief||||||||
|Orders)||||347,750|347,750||||
|||||411,509|411,509||99,293|99,293|
##
##
|||Money Advice|Annual|Total|Money Advice|Annual|Total|
|---|---|---|---|---|---|---|---|
||||Conference|2021||Conference|2020|
|||2021|2021||2020|2020||
|||6|f|||||
|Subscriptions-||||||||
|members||169,879||169,879|164,988||164,988|
|Quarterly
Account||6,327||6,327|6,226||6,226|
|Advertising||8,050||8,050|6,300||6,300|
|Training||89,295||89,295|63,602||63,602|
|MAT training|grants|157,480||157,480|108,760||86,210|
|CertMAP||69,200||69,200|59,425||59,425|
|CertMAP bursary||||||||
|funding||13,208||13,208|9,500||9,500|
|Quality
audit|service|1,975||1,975|2,560||2,560|
|Annual
conference|||25,470|25,470||||
|Sponsorships-||||||||
|Conference|||22,000|22,000||3,500|3,500|
|||515,414|47,470|562,884|421,361|3,500|424,861|
|Analysis
by|fund|||||||
|Unrestricted|funds|502,206|47,470|549,676|411,861|3,500|415,361|
|Restricted funds||13,208||13,208|9,500||9,500|
|||515,414|47,470|562,884|421,361|3,500|424,861|
|Unrestricted|Unrestricted|
|---|---|
|funds|funds|
|2021|2020|
||f|
|4,606|4,365|
##
##
||||Money|Annual|Total|Money|Annual|Total|
|---|---|---|---|---|---|---|---|---|
||||Advice Conference||2021|Advice|Conference|2020|
||||2021|2021||2020|2020||
||||f|f||f|||
|Annual
conference costs||||3,799|3,799||710|710|
|Quarterly|Account Editorial||||||||
|costs|||16,409||16,409|14,900||14,900|
|CertMAP|||66,315||66,315|58,178||58,178|
|Training course costs|||47,565||47,565|51,782||51,782|
|Research||Project||||21,135||21,135|
||||130,289|3,799|134,088|145,995|710|146,705|
|Grant funding
ofactivities|||||||||
|(see note||7)|155,820||155,820||||
|Share of|support costs||||||||
|(see note||8)|342,585|36,902|379,487|352,899||352,899|
|Share of|governance||costs||||||
|(see note||8)|6,479||6,479|11,231||11,231|
||||635,173|40,701|675,874|510,125|710|510,835|
|Analysis||by fund|||||||
|Unrestricted
funds|||360,173|40,701|400,874|401,332|710|402,042|
|Restricted||funds|275,000||275,000|108,793||108,793|
||||635,173|40,701|675,874|510,125|710|510,835|
|Grants payable|||||||||
||||||||Money|Money|
||||||||Advice|Advice|
||||||||2021f|2020
f|
|Grants to||institutions:|||||||
|Maintaining||or increasing access to debt relief orders|||||155,820||
##
|8|Supportcosts|Support|Governance|2021|Support|Governance|2020|
|---|---|---|---|---|---|---|---|
|||costs|costs||costs|costs||
|||f||||f.||
||Staif costs|293,511||293,511|287,709||287,709|
||Depreciation|6,195||6,195|3,533||3,533|
||Staff recruitment
and training
Premises costs|1,903
18,782||1,903
18,782|1,537
15,229||1,537
15,229|
||Office costs|23,705||23,705|25,440||25,440|
||CRM project costs
Insurance|11,790
1,721||11,790
1,721|1,780||1,780|
||Travel and subsistence|2,803||2,803|5,300||5,300|
||Sundry|1,265||1,265|1,378||1,378|
||Legal and professional
fees|15,766||15,766|6,990||6,990|
||Irrecoverable
VAT|2,046||2,046|4,003||4,003|
||Audit fees||5,618|5,618||6,833|6,833|
||Board and council
meeting costs||861|861||4,398|4,398|
|||379,487|6,479|385,966|352,899|11,231|364,130|
||Analysed
between
Charitable
activities|379,487|6,479|385,966|352,899|11,231|364,130|
##
##
##
##
|10|Employees||(Continued)|
|---|---|---|---|
||Employment
costs|2021|2020
f|
||Wages and salaries
Social security costs|263,134
17,726|258,983
16,307|
||Other pension costs|12,651|12,419|
|||293,511|267,709|
##
|Tangible fixed assets|||
|---|---|---|
|||Fixtures snd fittings|
|||f.|
|Cost|||
|At 1 January
2021||29,735|
|Additions||25,140|
|Disposals||(20,742)|
|At 31 December 2021||34,133|
|Depreciation
and impairment|||
|At 1 January
2021
Depreciation
charged|in the year|25,822
6,195|
|Eliminated
in respect ofdisposals||(20,742)|
|At 31 December 2021||11,275|
|Carrying
amount
At 31 December 2021||22,858|
|At 31 December 2020||3,913|
##
##
|13|Debtors|||||
|---|---|---|---|---|---|
||Amounts
falling due within|one year:||2021
f|2020f|
||Trade debtors|||81,159|82,583|
||Prepayments
and accrued income|||7,718|29,079|
|||||88,877|111,662|
|14|Creditors: amounts
falling|due within one year||||
|||||2021|2020|
||||Notes|f||
||Other taxation
and social security|||5,863|5,348|
||Deferred income||15|2,495|16,400|
||Trade creditors|||573|3,448|
||Accruals|||8,707|13,493|
|||||17,638|38,689|
|15|Deferred income|||||
|||||2021|2020|
|||||f|f|
||Other deferred
income|||2,495|16,400|
|||||2021|2020f|
||As at 1 January|||16,400|19,155|
||Amount
released to incoming|resources||(16,400)|(19,155)|
||Training fees|||1,000|8,8OO|
||Membership
fees|||775|2,100|
||Accreditation
fees|||720||
||Conference fees and sponsorship||||5,500|
||As at 31 December|||2,495|16,400|
##
##
||||Movement|In funds|||Movement|in funds||
|---|---|---|---|---|---|---|---|---|---|
||||Incoming
resources|Resources
expendedt|Balance at
January
2021||Incoming
resources|Resources
expended|Balance at
31 December|
||||||||||2021|
|CertMAP Bursaries|||9,500|(9,500)|||13208|(13208)||
|Quality
Improvement||and||||||||
|CPD Projects|||41,243|(41,243)|||47,942|(47,942)||
|Network
and|Information|||||||||
|Sharing|||58,050|(58,050)|||15,817|(15,817)||
|MaPS Grant|for the|||||||||
|adminstration|of Debt|||||||||
|Relief Orders|||||||347,750|(198,033)|149,717|
||||108,793|(108,793)|||424,717|(275,000)|149,717|
##
|Tlm Income funds ofthe cheniy indude|Tlm Income funds ofthe cheniy indude|Tlm Income funds ofthe cheniy indude|Tlm Income funds ofthe cheniy indude|Tlm Income funds ofthe cheniy indude|Tlm Income funds ofthe cheniy indude|the|fogovdng designated|funds which|have|been sel|aside out ofunrestdcted|aside out ofunrestdcted|aside out ofunrestdcted|aside out ofunrestdcted||funds by the trustees|funds by the trustees|for speofic|purposes|purposes||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|||||||||8 I|t|R* *drwe||7|f|8|I|t|R||8|I|~t|
|||||||||IJ n|ry 2828|4 ps|d
d||1|Jm||ry 2821|xp nddd||81D||m
r|
||||||||||||||||||||||strst|
||||||||||||||||||||||6|
|Contingency||||||||49,217|||||(4,275)||44,942|||4,165||49,107||
|CertMAP Flnandal|Support||||||||2,000|(1,220)|||2,720|||3,500|(1,082)|1,082|||3,500|
|ITequipment
replacement|||||||||603||(603)||3,000|||3,000|(2,900)|2,900|||3,000|
|Fixed 888et fund|||||||||6,787|(2,874)||||||3,913|(8,194)|25,140||22,859||
|Learning
and development|||||||||2996||(450)|||||2,548|(300)||||2,248|
|ResBerch||||||||20,000||(19,400)|||(800)|||||||||
|Relocsgon costs||||||||15,000||(1,662)|||(7,338)|||8,000|(5,640)|(360)||||
|Resswch (fogow up||to Wetlbwng||Report)||||||||||||||20,000||20,000||
|Research (Training)||||||||||||||||||5,000|||5,000|
|Recruitment
of Pfl'|Pogcy Oflicer|||||||||||||||||21,500||21,500||
|Trustee Training
end||Development||||||||||||||||2,500|||2,500|
|Subsidised
member||training|places||||||6,700|(3,305)|||605|||4,000|(4,000)|4,000|||4,000|
|Customer
retationsNp||Management|||System||Development|63,000|||||||63,000||(40,746)|||22,264||
|Drench support
fund|||||||||6,000||(269)||(3,731)|||2,000|(390)||||2,000|
|MAD emergency
support|||||||||2,000|||||||2,000|||||2,000|
|Conference|||||||||4,000|||||||4,000|(1,425)|1,425|||4,000|
|Member webiners|||||||||||||2,000|||2,000|(500)|500|||2,000|
|||||||||178,305||(29,783)|||(7,619)|140,903|||(83,177)|88,242|165,968|||
##
|INSTITUTE OF MONEY ADVISERS|INSTITUTE OF MONEY ADVISERS|||||||||
|---|---|---|---|---|---|---|---|---|---|
|(A COMPANY
LIMITED BYGUARANTEE)||||||||||
|NOTES TO THE
FINANCIAL STATEMENTS ICONTINUED)||||||||||
|FOR THE YEAR ENDED 31DECEMBER 2021||||||||||
|17|Designated
funds||||||||(C|
||Confingency
fund - to cover lease commitments,
stsff terminefion
payments||end other contingendes||that|would eries in the event ofwinding|||up the charity.|
||CertMAP finandel
support
is funding set aside to prowde flnandel
support||for CertMAP.|||||||
||IT equipment
reftacement
-to meal the cost ofreplsong
ITequipment|when
It becomes obsolete or|||beyond economic repair.|||||
||Fixed asset fund - to reflect the charity's
unrestricted
funds invested
In fixed assets.|||||||||
||Learning
and development
-to provide executive coaching|||||||||
||Research - Into the lmpad
on advtsors ofthe economic dimate.|||||||||
||Relocation costs - cost of idenfificetlon
of prerwses
and relocatton.|||||||||
||Research (fdlow up for wsgbelng
report) - to ccmmlsslon
further research||building|on our wefibelng|and|workloads|research|in 2020.||
||Research
(training)
- research
into engagements
vrtth
IMA training|||||||||
||Recrultmenl
of P/T Pdicy officer - to employ 8 Itxed term poficy officer|for 12 months.||||||||
||Trustee Training
and Development
-to prowde trustee training
and development,|||||||||
||Subsmissd
member
training
places - to provide subsldlsed
places on IMA training|||courses for members||nol funded|by MePS.|||
||Customer
Relationship
Management
System Development-
Development||ofe customer relationship||management||system.|||
||Branch support
fund - to provide a smsfi grant to each branch.|||||||||
||MAD emergency
support
- lo provide emergency
support
lo branches|for psrtbular||needs on epplicahon||||||
||Conference
- to provide subsldlsed
places for members
et the annual|conference.||||||||
||Member webiners
-to fund the prowsion ofwettnars
to members.|||||||||
##
|||Balance at 1|Balance at 1|Incoming|Resources|Transfers|Balance at 1|Incoming|Resources|Transfers|Transfers|Balance at 31|Balance at 31|
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
||||January|resources|expended|January
2020||resources|oxporrdod|||December 2021||
||||2020|||||||||||
|||E|E|E||||E||||||
|Restricted|funds|||108,793|(108,793)|||424,717|(275,000)||||149,717|
|Designated|funds||178,305||(29,783)|(7,619)|140,903||(63,177)||88,242||185,968|
|Unrestricted|funds||468,312|442,401|(372,259)|7,619|546,073|586,812|(337,897)||(88,242)||686,948|
||||646,617|551,194|(510,836)||686,976|991,529|(675,874)||||1,002,631|
|Analysts ofnet assets|||between funds|||||||||||
|||||||Unrestricted|Designated|Restricted|Totslgnrestrlcted||Designated||Total|
|||||||Funds|funds|Furtda||Funds||funds||
|||||||2021|2021|2021|2021|2020||2020|2020|
|||||||E|E|E|E||E|E|E|
|Fund balances at 31||December 2021||are represented|by:|||||||||
|Tangible assets||||||763|22,095||22,858|||3,913|3,913|
|Current assets/(tarn)tees)||||||686,947|143,109|149,717|979,773|546,073||136,990|683,083|
|||||||687,710|165,204|149,717|1,002,631|546,073||140,903|686,978|
##
##
|||2021|2020f|
|---|---|---|---|
||Vyithin one year|1,122|5,632|
|21|Related party transactions|||
|||2021|2020|
|---|---|---|---|
|||f|6|
|Aggregate|compensation|56,101|57,913|
|22|Cash generated
from|Cash generated
from|operations|operations||||2021|2020|
|---|---|---|---|---|---|---|---|---|---|
||||||||||f|
||Surplus
for|the year||||||315,655|40,359|
||Adjustments|for:||||||||
||investment|income recognised||in statement||offinancial|activities|(4,606)|(4,365)|
||Depreciation|and impairment||oftangible|fixed assets|||6,195|3,533|
||Movements|in working|capital:|||||||
||Decrease
in|debtors||||||22,785|3,693|
||(Decrease)/increase
in||creditors|||||(7,146)|4,506|
||(Decrease)|in deferred|income|||||(13,905)|(2,755)|
||Cash generated
from||operations|||||316,976|44,971|