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← Torbay Advice Network

2024-03-31-accounts

Registered number: 05979205 Charity number: 1118604

TORBAY ADVICE NETWORK

(A COMPANY LIMITED BY GUARANTEE)

UNAUDITED

TRUSTEES' REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

TORBAY ADVICE NETWORK (A COMPANY LIMITED BY GUARANTEE)

CONTENTS

Page
Reference and administrative details of the Company, its Trustees and advisers 1
Chairman's statement 2
Trustees'report 3-11
Trustees' responsibilities statement 12
Independent examiner's report 13
Statement of financial activities 14
Balance sheet 15
Notes to the financial statements 16 - 23

TORBAY ADVICE NETWORK (A COMPANY LIMITED BY GUARANTEE)

REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 MARCH 2024

Trustees Chris Wills, Chair
Tim Godfrey
Steve Gale
Company registered
 05979205
number
Company registered 13 Hyde Road
office Paignton
TQ4 5BW
Charity registered 1118604
number
Charity registered Suite 26
office 15 Montpellier Road
Torquay
TQ1 1DL
Accountants Accounting 4 Everything SW Ltd
13 Hyde Road
Paignton
TQ4 5BW
Bankers National Westminster Bank
Paignton
Devon
TQ4 5DE
Insurance broker PolicyBee LLP
14 Brightwell Barns
Waldringfield Road
Brightwell
Suffolk
IP10 OBJ

Page 1

TORBAY ADVICE NETWORK (A COMPANY LIMITED BY GUARANTEE)

CHAIRMAN'S STATEMENT FOR THE YEAR ENDED 31 MARCH 2024

The chairman presents his statement for the year.

These past twelve months have shown that the continued cost-of-living crisis not only impacts low-income Torbay residents, but we have seen an increase with working families and individuals struggling to pay for dayto-day essentials due to spiralling costs and stagnant incomes.

This has been highlighted in residents coming to our services, seeking advice on entitlements and local support services. Over the past 12 months, we have focussed additional financial capacity to meet demand, as well as developing more collaborative partnerships with VCSO’s in Torbay.

This has worked well in general, such as the Windmill Centre, through our collaborative Advising Torbay service delivery, whereby we pool our financial resources and advisor expertise to meet increased demand and offer one point of contact to reduce duplication of works.

We’re very thankful to all our funders over the past year and very proud of the work we’ve done in the face of continued challenges, as without the continued support from the Lottery, Trusts or Foundations, we wouldn’t be able to offer such transformational support to vulnerable residents in Torbay.

The Trustees remain grateful for the commitment and endeavour of Wayne Johnson and our sessional welfare advisor and trainer Susan and to all those organisations that have supported the charity and enabled us to facilitate the various projects, courses, and programmes during the past year, all of which have been free for advisors, volunteers and community members to attend.

Torbay Advice Network has remained financially stable and secure during the period covered by this report and will continue to identify and seek access to funds to run our tailored programmes on topics where the need is greatest and where the benefit of such training is passed on to the members of our local community.

On a final note, it is with great sadness that we lost one of our valued Trustees, Cristopher Wills in May 2024.

Chris was a staunch advocate for Torbay Advice Network for well over a decade, through his continued passion, knowledge and commitment he has helped to sustain and grow service delivery within the Charity, and it goes without saying, he will be sorely missed by all of us within the Charity.

We would like to pass on our sincere condolences to all of Chris’s family and friends in this sad loss. It will be impossible to replace Chris, but we will have new Trustees coming onboard in 2024 to help with strategic direction and ensure the charity’s work continues to advance its charitable objectives and remain relevant.

Tim Godfrey Date: 29 August 2024

Page 2

TORBAY ADVICE NETWORK (A COMPANY LIMITED BY GUARANTEE)

TRUSTEES' REPORT FOR THE YEAR ENDED 31 MARCH 2024

The Trustees present their annual report together with the financial statements of the Company for the 1 April 2023 to 31 March 2024. The Annual report serves the purposes of both a Trustees' report and a directors' report under company law. The Trustees confirm that the Annual report and financial statements of the charitable company comply with the current statutory requirements, the requirements of the charitable company's governing document and the provisions of the Statement of Recommended Practice (SORP) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and· Republic of Ireland (FRS102) (effective 1 January 2019).

Since the Company qualifies as small under section 382 of the Companies Act 2006, the Strategic report required of medium and large companies under the Companies Act 2006 (Strategic Report and Directors' Report) Regulations 2013 has been omitted.

Objectives and activities

• Policies and objectives

Torbay Advice Network (TAN) aims to support the advice and information sector in Torbay through signposting services, multi-agency training, lobbying, strategic and developmental work. TAN will collect, collate, monitor and report on the advice and information sector in Torbay identifying gaps in service provision, staff, training and other resources and will support joint working initiatives.

In support of the above TAN will strive to become the natural choice for local people when they need information, training ·and/or advice. It will strive to become a centre of excellence noted for customer service, for going that extra mile. It will aim to be a market leader, at the forefront of new and innovative service delivery within Torbay. TAN will epitomise strong partnership working and ensure equitable resources across the TAN community.

The Objects are:

To advance education for the benefit of the public in Torbay and to promote for the benefit of the public in Torbay those parts of the voluntary sector which provide advice and information services by:

TAN was set up to implement the recommendations of the Advice Strategy (2006) around Quality, Training, Ac ss, Monitoring, Volunteer recruitment, Strategic Voice and the provision of an Advice Centre.

The main priorities today are to:

  1. Deliver multi-agency & community training at basic, skilled advisor and legal advisor levels

  2. Monitor the sector and use the information to develop the TAN community

  3. Increase the Strategic Voice of the sector as a whole

  4. Increase Quality Standards

  5. Develop membership standards, criteria and participation

  6. Attract new volunteers to TAN and the sector

  7. Provide welfare support services to those deemed most in need

Page 3

TORBAY ADVICE NETWORK (A COMPANY LIMITED BY GUARANTEE)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

Objectives and activities (CONTINUED)

Future priorities dependent on funding are to develop single points of entry via an advice hub, telephone signposting line and web portal. One of the main priorities of TAN is to monitor the sector and use the information to develop the TAN community.

Each year we undertake a training needs analysis and this outlines the requirements for the forthcoming year and we regularly receive additional requests throughout the year.

TAN will continue to assess the needs of the community and develop training to ensure that advisers and communities have the most up to date information and skills to underpin our aims to improve the quality of advice available in Torbay.

Service Delivery Overview

We have supported 272 clients , consisting of 154 women, 114 men and 4 others, with age ranges supported up to 94 years. Our services have helped clients to secure additional income of £765,533 in total.

Working in collaboration with the Windmill Centre’s Generalist Advisor, we subsequently added a third qualified advisor through our tailored IAG college training and shadowing, with our collective three workers focusing on their own specialty areas.

In addition, we trained 52 people in community and practitioner workshops covering, Introduction to benefits, Identifying entitlement, Making a claim, Personal Independence Payments and Benefits for Carers.

Community Focussed IAG (Information, Advice & Guidance)

We also provided a series of community workshops, focussed on empowering and advising our community, such as “What Benefits Can I Claim” and “Guides to getting the right decision” where our experts provided guidance and valuable insight into their welfare benefit entitlements for both in and out of work scenarios.

Person-Centered Model

Our person-centered service focuses on providing quality advice over quantity. The increasing demand and complexity of clients support needs, has led to us providing an introduction and assessment phase where clients are triaged more thoroughly and meet with our tier 1 advisor to explain the service, process, benefit(s) and identify the exact support that is required.

Here it is assessed how support will be delivered and by whom as well as the client being supported to access all the relevant information needed to have a successful and efficient use of appointment time with our more experienced advisors.

Demand-led

The majority of the need we see is around Personal Independent Payments, with form filling, support for appeals, medical assessments, and Tribunal representation. As a collective, there is currently only a small number of specialist advisors who work on appeals in Torbay, so we worked to upskill our own in-house advisors to build capacity and expertise.

We also delivered drop-ins at The Windmill Centre, Great Parks Community Centre, Paignton Hub, Riviera Life Church and in home settings to further enable access of vulnerable clients.

Page 4

TORBAY ADVICE NETWORK (A COMPANY LIMITED BY GUARANTEE)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

Objectives and activities (CONTINUED)

Clients Supported Journey

Clients can be with us from the start or can join at any point on their support ‘journey’.

In terms of accessing our service, some clients self-refer, generally after a word-of-mouth recommendation, but the majority are referred from other statutory and voluntary services. We take referrals from local Job Centres, Adult Social Care Team including mental health, Mencap, PLUSS, Age UK, What’s your Problem, social prescribers, wellbeing coordinators, community builders, housing associations, food banks, the Community Helpline, NHS, Dimension for Autism, and others.

Increasing knowledge of Entitlements

The cost-of-living crisis continues to impact our clients, who are struggling to pay for day-to-day essentials. We offer all clients a comprehensive online benefit check to ensure they are receiving everything they are entitled to and maximizing their income. We utilise these ‘better off calculations’, where appropriate, to determine what effect moving into work or increasing or sometimes decreasing their working hours would have on their overall financial position. This better off calculation often highlights benefits clients are entitled to, which feeds into continued support and guidance to aid with accessing identified entitlements.

We also provided employment-related support including guidance and templates for reasonable adjustments requests in the workplace and details on how the Access to Work scheme can assist to enable the client to stay in or access employment.

In addition, we also offered benefit related advice such as the pros and cons of becoming a DWP appointee and support with the application process.

Increased Overheads

As non-profit making organisation we rely on funding to facilitate our services, however, we are not funding led but demand led. This doesn’t detract though that one of ours and the voluntary sectors biggest challenges are managing limited capacity with increased demand and funding challenges.

We pride ourselves in being a very lean organisation in terms of how and where we spend our funds as we know every pound secured is invaluable, but we are constantly seeing our operational costs increase, which means the number of people we can support will decrease over time if we don’t secure additional funding to off-set. We have been successful in this regard due to funding from the Lottery’s cost of living fund, but we will need to secure funds moving forward to be able to sustain service delivery.

Page 5

TORBAY ADVICE NETWORK (A COMPANY LIMITED BY GUARANTEE)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

Objectives and activities (CONTINUED)

Training Feedback

We have numerous statements from the surveys received, where we asked what difference this training would make to them, below are just a sample.

• Public benefit

The Trustees confirm that they have complied with the duty in Section 17(5) of the Charities Act 2011 to have due regard to the Charity Commission's general guidance on public benefit in exercising their powers or duties. They have referred to this guidance when reviewing the academy's aims and objectives and in planning its future activities.

Page 6

TORBAY ADVICE NETWORK (A COMPANY LIMITED BY GUARANTEE)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

Objectives and activities (CONTINUED)

• People to thank

Without the trustees, partnership working and financial support of trusts & foundations annually we would be unable to deliver all our work. We are extremely grateful for all the support we receive, especially financially as every pound donated allows us to make a lasting contribution to people we support within our community. Our thanks go to the following supporters

Our sincere thanks go to the following funders

Achievements and performance

• Case studies & testimonials

Case Study 1

Client A is a 35-year-old man recently diagnosed with autism and ADHD. He had applied for PIP himself but had only been awarded 6 points for the daily living component (8 points are needed for a standard award). He had approached another local advice service for help with a mandatory reconsideration (first step in the appeal process) but unfortunately, they were unable to help him so again he had to do it himself. This was also unsuccessful, and the case went to tribunal on the 13/10/23 at Newton Abbot Magistrates’ Court (this deals with appeals by Torbay residents).

The client only contacted us on 26/09/23 which did not leave much time to prepare. The adviser called him back the same day, discussed the case at some length on the phone, and agreed to meet him the following day where they went through the appeal ‘bundle’ and prepared a strategy for the hearing. At this meeting they also contacted HMCTS to register her as his official representative. In normal circumstances, a formal, written appeal submission should be submitted to HMCTS online at least two weeks prior to the hearing date. This was not possible in this case, due to time constraints, so the adviser went to the Court on the morning of the hearing and hand delivered the submission to the usher along with a written request for the Judge to allow it as late evidence. She then returned to the Court that afternoon for the hearing, along with the client, where she acted as his representative and subsequently supported the client with a successful PIP award for daily living.

Page 7

TORBAY ADVICE NETWORK (A COMPANY LIMITED BY GUARANTEE)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

Achievements and performance (CONTINUED)

Case studies & testimonials (continued)

Case Study 2

Client B is a 51-year-old man living in a privately rented flat. He has a history of sexual abuse as a child and several periods in care. He began using drugs in his teens and spent many years addicted to heroin. After periods in rehab and supported living he is now drug free, however his mental health is very fragile, and he has been referred to the Community Mental Health Team. There is a long waiting list, and he is receiving regular wellbeing calls as there are concerns about suicide ideation. He also has significant long term physical health conditions, particularly with mobility. He is unable to work so is on a very low income and must use the food bank a couple of times a month. A local service had helped him to apply for Personal Independence Payment (PIP), but this was turned down and he needed help in appealing against that decision.

The adviser saw him at The Windmill Centre several times and prepared a detailed appeal submission. She attended the tribunal hearing with him and acted as representative. The appeal was allowed, and he was given a maximum 10-year award – enhanced rate for both components. This means ongoing payments of £172.75 pw.

The award was backdated to its original application date, resulting in a back payment of £15,264. The client says this sum will change his life – he will be able to eat much more healthily, buy a decent second-hand car and, most importantly, find somewhere else to live. His current accommodation is a small flat in a building occupied by others with chaotic lifestyles. A local service has been trying to help him move to somewhere more suitable, and less of a risk to his continued sobriety, for over a year but he simply couldn’t afford anywhere else. Now, crucially, he has the means to do this and to maintain the tenancy.

Case Study 3

Client C is a 65-year-old married woman with significant physical health conditions, including arthritis in all her joints, and declining mental health. She had worked in education until recently when she retired on health grounds after a student assaulted her. She was subject to long-term domestic abuse in her previous marriage and her anxiety had worsened considerably since that incident. She had applied for PIP herself but been turned down and wanted to appeal. This was her last opportunity to apply for PIP as the cut off for applications is State Pension Age – in her case, just a few months away.

The adviser saw her in the Hub at Paignton Library and had lengthy phone appointments when her health was particularly poor. A detailed appeal submission was prepared, and the adviser was due to attend the tribunal hearing with her and act as representative. The week before the hearing the client said she could not face it – the hearings are held in Newton Abbot Magistrates’ Court and the prospect of going there was too overwhelming. She had had to attend Court as a witness previously and the prospect of going there again was just too much for her. She was on the point of giving up. The adviser organised a telephone hearing with HMCTS and travelled to her home to act as representative on the conference call.

The appeal was allowed, and she was awarded the standard rate for daily living. This means an ongoing payment of £68.10pw, and a back payment of £4,833. This will obviously ease the financial burden, now that she can no longer work, and she is particularly pleased that she will now be able to afford to go swimming as she finds this the only thing that eases the pain in her joints.

Page 8

TORBAY ADVICE NETWORK (A COMPANY LIMITED BY GUARANTEE)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

Financial review

• Going concern

After making appropriate enquiries, the Trustees have a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the accounting policies.

Achievements and performance (CONTINUED)

• Reserves policy

The Trustees review the reserve levels of the Charity annually. This review encompasses the nature of income and expenditure streams, the need to match income with commitments and the nature of reserves. The Trustees take into consideration the future plans of the Charity, the uncertainty over future income streams and other key risks identified during the risk review. Available reserves at the year-end were £56,854, of which £32,041 relate to restricted funds.

Structure, governance and management

• Constitution

The company is limited by guarantee, having no share capital. Its governing document is a Memorandum and Articles of Association, and it is registered as a charity with the Charity Commission. Its Trustees are currently its only members and their liability is limited to £10 each.

Torbay Advice Network is governed by its Trustee Board which is responsible for setting the strategic direction of the organisation and the policy of the charity. The Trustees carry the ultimate responsibility for the conduct of Torbay Advice Network and for ensuring that the charity satisfies its legal and contractual obligations. Trustees meet at a minimum quarterly and delegate the day-to-day operation of the organisation to senior management. The day to day management is delegated to Wayne Johnson.

Trustees are elected from the local community and the Trustee board elect the Chairman and Treasurer. The Trustees may at any time co-opt any individual who is qualified to be appointed as a Trustee to fill a vacancy in their number or as an additional Trustee, but a co-opted Trustee holds office only until the next AGM.

Page 9

TORBAY ADVICE NETWORK (A COMPANY LIMITED BY GUARANTEE)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

Structure, governance and management (CONTINUED)

• Trustees

Name Role/s Trustee Bio
Tim Godfrey Trustee Tim joined Bishop Fleming in 1994. He provides advice and support to a
large number of his local business community. He is also the partner
heading the firm's Care Home sector team - providing audit and accounting
services but most importantly advising a growing number of care home
owners on maximising the profitability and value of their business, as well
as assisting those who want to grow or exit their business.
His client portfolio also includes many of the tourism and leisure businesses
in the area. Having been born and educated in the South West, Tim is keenly
focused on the region's primary owner-managed business sectors.
Tim comments, "My goal is to remove the headache of day-to-day paperwork
whilst facilitating the growth and aspirations of my owner managed business
clients. My focus is on helping core owner- managed sectors to maximize
their business performance and value."
Steve Gale Trustee Prior to getting involved in the community sector, I worked for over 22 years in
the commercial photographic industry, mostly in the London area, but also for
a short spell in Cairo, and more locally in Torbay. In the early 1990s I decided
to embark on a new career path and was drawn towards the advice sector, as
manager with Torbay Disability Information Service (part of Torbay and
Southern Devon Health and Care NHS Trust).
After 20+ years I have decided to take early retirement to focus on new VCS
ventures. Over the years I have developed a particular interest in social
security issues and have delivered some of TAN's training sessions on
welfare benefits.

Matt Fellows Edward Lee

Page 10

TORBAY ADVICE NETWORK (A COMPANY LIMITED BY GUARANTEE)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

Structure, governance and management (CONTINUED)

Charity Manager - Wayne Johnson

Wayne has worked in the voluntary sector since 2002, predominantly as a Senior Project Manager for a large Charity as well as senior roles within Fundraising, Community and Strategic Development and commissioned works within the private sector.

Wayne supports the Trustees with charity governance, compliance and service delivery, including, point of contact for general enquiries, general administration duties, bid and tender submissions, Partnership & Service Development, Contractor Management and applicable financial processes.

Welfare Advisor & Trainer – Susan Bottomley

Susan has over 20 years’ experience working within this sector, working for organisations such as CAB, as a volunteer advisor and welfare support roles including, Homeless Persons Officer, Acting Housing Needs Manager, Community Outreach Worker, FAIR Coordinator and FAB Team Member.

Since 2018, Susan has been providing specialist information, advice and guidance, helping vulnerable people to understand and access their welfare rights entitlements.

Susan also writes bespoke training modules and delivers tailored training for VCSO staff and volunteers, including topics such as PIP, ESA, Carers Allowance, Universal Credit, GDPR, etc to name just a few.

Administrator – Abi Massheder

Abi has over a decade of experience working in administration for both local and multi-national organizations.

Abi’s enthusiasm and experienced and varied background dealing with all different types of office administration and business support enabled our Charity to facilitate increased service delivery throughout the financial year.

All our contractors and volunteers have been an invaluable asset throughout the year and we would like to thank them in supporting us to meet and exceed our Charitable aims and objectives

There are no related parties which either control or significantly influence the decisions and operations of Torbay Advice Network.

Plans for future periods

The Charity plans to continues to support the advice and information sector in Torbay, providing front-line support for communities and practitioners.

Funds held as custodian

The Charity and its Trustees do not act as the Custodian Trustees of any other Charity.

Approved by order of the members of the board of Trustees on 29 August 2024 and signed on their behalf by:

Wayne Johnson (Manager)

Page 11

TORBAY ADVICE NETWORK (A COMPANY LIMITED BY GUARANTEE)

STATEMENT OF TRUSTEES' RESPONSIBILITIES FOR THE YEAR ENDED 31 MARCH 2024

The Trustees (who are also the directors of the Company for the purposes of company law) are responsible for preparing the Trustees' 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 prepare 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 situation of the Company and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Trustees are required to:

The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Company's transactions and disclose with reasonable accuracy at any time the financial position of the Company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Approved by order of the members of the board of Trustees on 29 August 2024 and signed on its behalf by:

Wayne Johnson (Manager)

Tim Godfrey

Page 12

TORBAY ADVICE NETWORK (A COMPANY LIMITED BY GUARANTEE)

INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 MARCH 2024

Independent Examiner's Report to the Trustees of Torbay Advice Network ('the Company')

I report to the charity Trustees on my examination of the accounts of the Company for the year ended 31 March 2024.

Responsibilities and Basis of Report

As the Trustees of the Company (and its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').

Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the Company's accounts carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent Examiner's Statement

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:

  1. accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or

  2. the accounts do not accord with those records; or

  3. the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a 'true and fair' view which is not a matter considered as part of an independent examination; or

  4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities [applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

This report is made solely to the Company's Trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state to the Company's Trustees those matters I am required to state to them in an Independent examiner's report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the Company and the Company's Trustees as a body, for my work or for this report.

Signed:

Dated: 29 August 2024

Nicholas Millard

Accounting 4 Everything SW Ltd 13 Hyde Road Paignton TQ4 5BW

Page 13

TORBAY ADVICE NETWORK (A COMPANY LIMITED BY GUARANTEE)

STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 MARCH 2024

Income from:
Note
Charitable activities
Total income
Expenditure on:
Charitable activities
Total expenditure
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Net movement in funds
Transfer between funds
Total funds carried forward		 UnrestrictedRestricted
Total
Total
funds
funds
funds
funds
2024
2024
2024
2023
£
£
£
£
-
83,782
83,782
37,936
-
83,782
83,782
37,936
-
52,727
52,727
30,128
-
52,727
52,727
30,128
- 31,055
31,055
7,808
24,813
32,041
56,854
49,046
- 31,055 31,055
7,808
833 (833) - -
25,646
62,263
87,90956,854

The Statement of Financial Activities includes all gains and losses recognised in the year.

The notes on pages 17 to 24 form part of these financial statements.

Page 14

TORBAY ADVICE NETWORK (A COMPANY LIMITED BY GUARANTEE) REGISTERED NUMBER:05979205

BALANCE SHEET AS AT 31 MARCH 2024

Fixed assets
Tangible assets
Current assets
Cash at bank and in hand
Creditors: amounts falling due within one
year
Net current assets
Total assets less current liabilities
Total net assets
Note
8
9
Charity funds
Restricted funds
Unrestricted funds
10
10
Total funds		 2024
2023
£
£
104
139
104
139
87,865
57,435
87,865
57,435
(60)
(720)
87,805
56,715
87,909
56,854
87,909
56,854
62,263
25,646
32,041
24,813
87,909
56,854		 2024
2023
£
£
104
139
104
139
87,865
57,435
87,865
57,435
(60)
(720)
87,805
56,715
87,909
56,854
87,909
56,854
62,263
25,646
32,041
24,813
87,909
56,854		 2024
2023
£
£
104
139
104
139
87,865
57,435
87,865
57,435
(60)
(720)
87,805
56,715
87,909
56,854
87,909
56,854
62,263
25,646
32,041
24,813
87,909
56,854





87,909
87,909
62,263
25,646
87,909

The Company was entitled to exemption from audit under section 477 of the Companies Act 2006.

The members have not required the company to obtain an audit for the year in question in accordance with section 476 of Companies Act 2006.

The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small companies regime.

The financial statements were approved and authorised for issue by the Trustees on 29 August 2024 and signed on their behalf by:

Wayne Johnson

(Manager)

The notes on pages 17 to 24 form part of these financial statements.

Page 15

TORBAY ADVICE NETWORK (A COMPANY LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

1. General information

The company is a company limited by guarantee. The members of the company are the Trustees named on page . In the event of the company being wound up, the liability in respect of the guarantee is limited to £10 per member of the company.

2. Accounting policies

2.1 BASIS OF PREPARATION OF FINANCIAL STATEMENTS

The financial statements have been prepared in accordance with the Charities SORP (FRS 102) - Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities 0 preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

Torbay Advice Network meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.

2.2 INCOME

All income is recognised once the Company has entitlement .to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.

2.3 EXPENDITURE

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset's use.

Expenditure on charitable activities is incurred on directly undertaking the activities which further the Company's objectives, as well as any associated support costs.

All expenditure is inclusive of irrecoverable VAT.

2.4 TANGIBLE FIXED ASSETS AND DEPRECIATION

Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be included in the measurement of cost.

Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

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TORBAY ADVICE NETWORK (A COMPANY LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

2. Accounting policies (continued)

2.5 CASH AT BANK AND IN HAND

Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

2.6 LIABILITIES AND PROVISIONS

Liabilities are recognised when there is an obligation at the Balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.

Liabilities are recognised at the amount that the Company anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.

Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised in the Statement of financial activities as a finance cost.

2.7 FINANCIAL INSTRUMENTS

The Company only has financial· assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.

2.8 FUND ACCOUNTING

General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Company and which have not been designated for other purposes.

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the Company for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.

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TORBAY ADVICE NETWORK (A COMPANY LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

3. Income from charitable activities

Lottery COL
Awards for All
Casework
Sanctuary Housing
Precept
ASC (Torbay Council)
Claire Milne
Cost of Living - TCDT
NFCT
TOTAL		 Unrestricted
funds
2024
£
Restricted
funds
2024
£
Total
funds
2024
£
28,182
28,182
-
-
5,000
5,000
38,800
38,800
10,000
10,000
-
-
1,800
1,800
83,782
83,782		 Total
funds
2023
£
-
9,396
600
5,000
-
10,000
8,000
4,940
-
37.936

In 2023, of total income £600 was unrestricted and £37,336 was restricted.

4. Analysis of expenditure on charitable activities

Restricted Total Total
funds funds funds
2024 2024 2023
£ £ £
Training/professional advice 30,029 30,029 16,097
Insurance 190 190 190
Sundry expenditure 731 731 722
Wages and salaries 21,022 21,022 12,352
Accountancy fees 720 720 720
Legal and professional fees - - -
Depreciation 35 35 47
TOTAL 52,727 52,727 30,128

In 2023, of total expenditure on charitable activities £0 was unrestricted and £30,128 was restricted.

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TORBAY ADVICE NETWORK (A COMPANY LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

5. Independent examiner's remuneration

2024 2023
£ £
Fees payable to the Company's independent examiner for the independent
examination of the Company's annual accounts 720 720
Fees payable to the Company's independent examiner in respect of:
All other services not included above nil Nil

6. Staff costs

2024 2023
£ £
Wages and salaries 21,022 12,352

The average number of persons employed by the Company during the year was as follows:

2024 2023
No. No.
Employees 2 2

No employee received remuneration amounting to more than £60,000 in either year.

7. Trustees' remuneration and expenses

During the year, no Trustees received any remuneration or other benefits (2023 - £nil).

During the year ended 31 March 2024, no Trustee expenses have been incurred (2023 - £nil).

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TORBAY ADVICE NETWORK (A COMPANY LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

8. Tangible fixed assets

COST OR VALUATION
At 1 April 2023
Additions

At 31 March 2024
DEPRECIATION
At 1 April 2023
Charge for the year
At 31 March 2024
NET BOOK VALUE
At 31 March 2023
At 31 March 2024
9.
Creditors: Amounts falling due within one year
2024
£
Accruals
60		 Plant and
machinery
£
2,779
-
2,779
2,640
35
2,675
139
104

2023
£

720

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TORBAY ADVICE NETWORK (A COMPANY LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

10. Statement of funds

UNRESTRICTED FUNDS
General Funds - all funds
RESTRICTED FUNDS
Gemini FM
Mayor Fund
Awards for All (National Lottery)
Sanctuary Housing
ASC (Torbay Council)
Claire Milne
Cost of Living - TCDT
Lottery COL
NFCT
Precept
TOTAL OF FUNDS		 Balance at 1
Balance at
31 March
April 2023
Income Expenditure
Transfer
2024
£
£
£
£
£
24,813
833
25,646
55
55
46
46
9,394
(9,394)
-
2,599
5,000
(4,472)
3,127
7,855
10,000
(10,608)
7,247
7,152

(7,152)
-
4,940
(4,940)
-
-
28,182
(8,055)
20,127
-
1,800
(592)
1,208
-
38,800
(7,514)
(833)
30,453
32,041
83,782
(52,727)
(833)
62,263
56,854
83,782
(52,727)
87,909

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TORBAY ADVICE NETWORK (A COMPANY LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

10. Statement of funds (continued)

Funder Grant Overview
NFCT Specialist welfare advice support to Torbay residents who have a
disability and experiencing Social Challenges & Extreme
Deprivation.
Precept A transformational, fully inclusive, multi-agency Information and
advice (IAG) service for Torbay.
Sanctuary Information advice and Guidance (IAG) and Advisor Training for
Torbay residents.
ASC Provide sources of information, support for people with Autistic
Spectrum Conditions(ASC)& families and carers.
C.O.L Delivery of cost-of-living advice workshops, open to residents
from within Torbay and practitioners who support vulnerable
individuals.
Lottery Funds to increase capacity, maintain service delivery and
sustainability, including Advisor Training & IAG services.
Clare Milne To address the ongoing dual impacts of the COVID-19 pandemic
and the cost-of living crisis by offering people identified as having
a disability, with complex support needs, person-centred
assistancerelated towelfare benefits.

11. Analysis of net assets between funds

Analysis of net assets between funds - current year

Unrestricted Restricted Total
funds funds funds
2024 2024 2024
£ £ £
Tangible fixed assets 81 23 104
Current assets 25,565 62,300 87,865
Creditors due within one year (60) (60)
TOTAL 25,646 62,263 87,909

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TORBAY ADVICE NETWORK (A COMPANY LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

11. Analysis of net assets between funds (continued)

Analysis of net assets between funds - prior year

Unrestricted Restricted Total
funds funds funds
2023 2023 2023
£ £ £
Tangible fixed assets 108 31 139
Current assets 24,705 32,730 57,435
Creditors due within one year (720) (720)
TOTAL 24,813 32,041 56,854

12. Controlling party

The charitable company is controlled by the Trustees.

Page 23