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← West Kent Debt Advice

2023-12-31-accounts

Registered Charity No. 1125756

WEST KENT DEBT ADVICE

ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS

YEAR ENDED 31 DECEMBER 2023

WEST KENT DEBT ADVICE

CONTENTS

Page General Information 2 Trustees’ report 3 – 5 Statement of Financial Activities 6 Balance Sheet 7 Notes to the accounts 8 – 10 Report of the independent examiner 11

1

WEST KENT DEBT ADVICE

GENERAL INFORMATION

TRUSTEES

CHARITY NUMBER

COMPANY NUMBER

REGISTERED OFFICE AND PRINCIPAL ADDRESS

BRANCH OPERATIONAL ADDRESSES

Paul Crouch (Chair) Helen Adam Michael O’Driscoll Ben Spring

1125756

6669672

Tonbridge Baptist Church Darenth Avenue Tonbridge TN10 3HZ

Vine Evangelical Church Hitchen Hatch Lane Sevenoaks TN13 3AT

United Reformed Church 1 Mount Ephraim Tunbridge Wells TN4 8AE

BANKERS

INDEPENDENT EXAMINER

Cooperative Bank plc PO Box 101 1 Balloon Street Manchester M60 4EP

Dan Vickery ACMA

2

WEST KENT DEBT ADVICE

TRUSTEES’ REPORT YEAR ENDED 31 DECEMBER 2023

The trustees (who are also directors of the charity for the purposes of the Companies Act) present their report together with the unaudited financial statements of West Kent Debt Advice for the year ended 31 December 2023. The trustees confirm that the annual report and financial statements comply with the Charities Act 2011, the Companies Act 2006, the requirements of the charity’s governing document, and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2015) as amended in February 2016.

History

Tonbridge Debt Advice Centre (TDAC) was established in 2004 by a group of individuals in Tonbridge Baptist Church to provide a “safe place” where local people could come to receive free advice to help them escape the debt trap. TDAC was incorporated as a guarantee company and received charitable status in 2008. It changed its name to West Kent Debt Advice (WKDA) on 24 January 2012.

Under an agreement dated 2 October 2017 WKDA entered into a partnership with the charity Crosslight Advice (CL) to co-deliver advice services to clients in West Kent and thereby ensure that they achieve the highest quality technical, professional, and ethical standards.

Structure, Governance and Management

WKDA is a charitable company governed by its Memorandum and Articles of Association. The members of WKDA are trustees for the purposes of the Charities Act 2011 and are directors under the Companies Act 2006. Membership is open to individuals or organisations who apply to WKDA in the form required by the directors and are approved by the directors. Directors are appointed by the members at a general meeting. There must be a minimum of three directors, but there is no maximum number.

The day-to-day operations of WKDA are delegated to staff and volunteers.

Objectives and activities

WKDA’s purposes as set out in the objects contained in its memorandum of association are:

The aims of WKDA are to ensure the provision of help and advice on all aspects of personal finance to any person who requires it in the West Kent area, but primarily to such persons with debt-related problems. The charity realises these objectives through its partnership with CL and the joint operation of the Crosslight branches in West Kent.

The guidance contained in the Charity Commission’s general guidance on public benefit is referred to when reviewing the objectives and aims of WKDA and in planning future activities. The Trustees consider that the charity’s current activities provide public benefit in accordance with that guidance.

3

WEST KENT DEBT ADVICE

TRUSTEES’ REPORT

YEAR ENDED 31 DECEMBER 2023 (continued)

Achievement and Performance

WKDA provides its services in partnership with Crosslight and jointly operates Crosslight’s West Kent branches in Tonbridge, Sevenoaks, and Tunbridge Wells.

In 2023, WKDA helped over 200 families who have faced increasing challenges. New enquiries were more than double pre-pandemic levels and in the last year demand for our services has grown 17%. We had 122 new open advice, 82 casework, 9 budget coaching and 22 welfare rights cases during the year. We’ve written off over £580,000 of unpayable debts and achieved income gains of over £223,000 for our clients.

As well as an increase in the number of people needing our support, there has also been a rise in the number of clients presenting with complex/multiple needs such as long-term health or mental health issues, cognitive or behavioural difficulties, complex family situations, and victims of domestic violence. Support for those with complex needs now constitutes over 53% of all of our active cases.

Whilst maintaining its commitment to providing face-to-face advice, CLWK has prepared itself to implement a more flexible approach so that it is able to take on more clients and to see them more quickly. This means there will be more encouragement for clients to take control of managing their debts if they are able, whilst still offering the full casework model to those who need it.

Financial review

Total incoming resources for the year amounted to £108,850 (2022 £102,306) and resources expended on charitable activities were £125,490 (2022 £112,243). All other costs are kept to a minimum.

Unrestricted funds amounted to £75,998 (2022 £92,638) at the year end.

The aim of the trustees is that the charity should have sufficient unrestricted reserves to enable it to support its existing clients. Such is the continuing nature of the support offered that the servicing of some clients can take at least twelve months. Furthermore the charity is significantly dependent on successful applications to grant making trusts, the response to which can typically take six months or more. Consequently the level of reserves is reviewed regularly to ensure that they are sufficient to sustain the charity’s ongoing activities and its ability to meet its financial commitments.

Trustees

The members of the charitable company are trustees for the purposes of the Charities Act 2011 and directors for the purposes of company law. The trustees who served during the year were:

Paul Crouch (Chair) Mike O’Driscoll Helen Adam Michael Harris (Resigned 26.12.2023) Ben Spring

4

WEST KENT DEBT ADVICE

TRUSTEES’ REPORT

YEAR ENDED 31 DECEMBER 2023 (continued)

Trustees’ responsibilities

The trustees (who are also directors of WKDA for the purposes of company law) are responsible for preparing the annual 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 state of affairs of the charitable company and of the incoming resources and application of resources.

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 charitable company’s transactions and disclose with reasonable accuracy at any time the financial position of the charitable 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 charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Paul Crouch

Non-Executive Director and Chairman of Trustees

Tonbridge Baptist Church Darenth Avenue Tonbridge TN10 3HZ

24 September 2024

5

WEST KENT DEBT ADVICE

STATEMENT OF FINANCIAL ACTIVITIES YEAR ENDED 31 DECEMBER 2023

Incoming resources
Donations from individuals
Standing orders
Others
Gift Aid tax recovery
Donations from Churches
Grants
Frank Jackson Foundation
High Hilden
Kent Community Foundation
Colyer-Fergusson Trust
Edenbridge Food Bank
Others
Bank interest
Other receipts
Total incoming resources
Resources expended
Fund-raising and publicity
Direct charitable expenditure
Staff costs
Other direct costs
Governance
Total resources expended
Net incoming (outgoing)
resources for the year
Funds brought forward at 1
January 2023
Funds carried forward at
31 December 2023		 2023
Unrestricted
£
2023
Restricted
£
2023
Total
£
2022
Total
£
11,750
-
11,750
12,835
4,525
-
4,525
13,761
2,250
-
2,250
2,510		 2023
Unrestricted
£
2023
Restricted
£
2023
Total
£
2022
Total
£
11,750
-
11,750
12,835
4,525
-
4,525
13,761
2,250
-
2,250
2,510		 2023
Unrestricted
£
2023
Restricted
£
2023
Total
£
2022
Total
£
11,750
-
11,750
12,835
4,525
-
4,525
13,761
2,250
-
2,250
2,510		 2023
Unrestricted
£
2023
Restricted
£
2023
Total
£
2022
Total
£
11,750
-
11,750
12,835
4,525
-
4,525
13,761
2,250
-
2,250
2,510
18,525 - 18,525 29,106
14,538
-
14,538
12,245
10.000
-
-
-
10,000
-
-
10,000
13,320
-
13,320
20,000
15,000
-
-
10,298
15,000
10,298
15,000
5,721
26,470
-
26,470
8,900
64,790 10,298 75,088 59,621
699
-
699
385
-
-
-
949
98,552 10,298 108,850 102,306
7,638
-
7,638
-
82,025
10,298
92,323
87,811
25,529
-
25,529
24,302
-
-
-
130
115,192 10,298 125,490 112,243
(16,640)
-
(16,640)
(9,937)
92,638
-
92,638
102,575
75,998 - 75,998 92,638

6

WEST KENT DEBT ADVICE

BALANCE SHEET – 31 DECEMBER 2023

Note
Fixed assets
Tangible assets
5
Current assets
Debtors
6
Bank and cash balances
Creditors – amounts falling due within one
year
7
Net current assets
Total assets less current liabilities
8
Funds
Unrestricted funds
Restricted funds
9		 £
2,337
77,338
79,675
3,677		 2023
£
-
75,998
75,998
75,998
-
75,998		 £
2,608
93,621
96,229
3,591		 2022
£
-
92,638
92,638
92,638
-
75,998 92,638

The trustees are satisfied that the company was entitled to exemption from the requirement to have an audit under section 477 of the Companies Act 2006 and confirm that no notice has been deposited requesting an audit under section 476 of the Companies Act 2006 in relation to the accounts for the financial period.

The trustees acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to the accounting records and the preparation of accounts.

The accounts, which have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006, were approved by the board on 24 September 2024 and signed on its behalf.

Paul Crouch Non-Executive Director and Chairman of Trustees

7

WEST KENT DEBT ADVICE NOTES TO THE ACCOUNTS YEAR ENDED 31 DECEMBER 2023

1. Accounting policies

a) Accounting Basis

The accounts have been prepared under the historical cost convention and in accordance with the Charities Act 2011, the Companies Act 2006, the requirements of the charity’s governing document, and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2015) as amended in February 2016.

b) Fund Accounting

Unrestricted funds are available for use at the discretion of the trustees in furtherance of the general objectives of the charity. Restricted funds are subject to conditions imposed by the donors.

c) Incoming Resources

All incoming resources are included in the Statement of Financial Activities when the charity is entitled to the income and the amount can be quantified with reasonable accuracy.

Expenditure includes irrecoverable VAT and is recognised on an accruals basis as a liability is incurred.

Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes costs that can be allocated directly to such activities and costs of an indirect nature necessary to support them.

Governance costs include costs associated with meeting the constitutional and statutory requirements of the charity and costs linked to the strategic management of the charity.

e) Pension Costs

Pension contributions to money purchase schemes for the charity’s members of staff are charged to the statement of financial activities as they are incurred.

f) Tangible Fixed Assets and Depreciation

Fixed assets are stated at cost less accumulated depreciation. Depreciation is provided at 33% per annum to write off the cost, less estimated residual value, of each asset over its expected useful life. Assets costing more than £1,000 are capitalised.

g) Taxation

The company is not liable to taxation on its income.

2. Net incoming (outgoing) resources for the year are stated after charging:

2023 2022
£ £
Depreciation of tangible fixed assets - -
Independent Examiner’s fee - 130

8

WEST KENT DEBT ADVICE NOTES TO THE ACCOUNTS (continued) YEAR ENDED 31 DECEMBER 2023

3. Staff costs

aff costs
2023 2022
£ £
Salaries 88,357 84,213
National insurance contributions 734 1,813
Pension premiums 3,232 2,920

The average number of staff employed during the year was 4 (2023– 4). No employee received emoluments of more than £60,000.

4. Trustees’ remuneration and related party transactions

No remuneration or expenses were paid to any trustee during the year.

Tonbridge Baptist Church made donations of £6,250 (2022 - £5,750) to the charity during the year, and provided premises from which the charity operates free of charge. Ben Spring, a Trustee of the charity, is a member of Tonbridge Baptist Church.

Michael O’Driscoll, a trustee of the charity, is a member of Tunbridge Wells Baptist Church who made a donation of £200 (2022 - £250) to the charity during the year.

Paul Crouch was a Trustee of Crosslight Advice during the year. The charity made contributions to Crosslight Advice totalling £21,847 (2022 - £21,500) in respect of training, appointment scheduling, governance and policy and software licences. This drives efficiency for the charity through economies of scale.

5. Tangible fixed assets – office equipment and computers

angible fixed assets – office equipment and computers
Cost
At 1 January 2023 and 31 December 2023
Accumulated depreciation
At 1 January 2023 and 31 December 2023
Net book value
At 31 December 2023 and 31 December 2022		 £
11,293
11,293
-

6. Debtors

Prepayments
Gift Aid tax recoverable
editors – amounts falling due within one year
PAYE and national insurance contributions
Accrued expenses		 2023
£
102
2,235		 2022
£
98
2,510
2,337 2,608
2023
£
3,547
130		 2022
£
3,461
130
3,677 3,591

7. Creditors – amounts falling due within one year

9

WEST KENT DEBT ADVICE NOTES TO THE ACCOUNTS (continued) YEAR ENDED 31 DECEMBER 2023

8. Analysis of net assets between funds

Tangible fixed assets
Net current assets		 Unrestricted
£
-
75,998		 Restricted
£
-
-		 Total
£
-
75,998
75,998 - 75,998

9. Restricted funds

Edenbridge Food Bank Balance
brought
forward
£
-		 Income
£
10,298		 Expenditure
£
10,298		 Balance
carried
forward
£
-
- 10,298 10,298 -

10. Company status

The company is a private company limited by guarantee and does not have share capital.

10

WEST KENT DEBT ADVICE

INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES YEAR ENDED 31 DECEMBER 2023

I report on the accounts for the year ended 31 December 2023 which are set out on pages 6 to 10.

Respective responsibilities of trustees and independent examiner

The charity’s trustees are responsible for the preparation of the accounts. The trustees consider that an audit is not required for this year under section 144 of the Charities Act 2011 (“the Act”) and that an independent examination is needed.

It is my responsibility to:

Basis of independent examiner’s report

My examination was carried out in accordance with the general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a true and fair view. The report is limited to those matters set out in the statement below.

Independent examiner’s statement

In connection with my examination, no material matters have come to my attention which give me reasonable cause to believe that, in any material respect,:

I 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.

Dan Vickery ACMA

24 September 2024

11