West Somerset Advice Bureau IA Charitable Company Limited by Guarantee) Annual Report and Financial Ststements For the Year Ended 31 March 2024 Company Number: 06693841 Charlty Registered in England and Wales NUm￿r. 1126930 West Somerset Advice Bureau Contents For the Year Ended 31 March 2024 Contents Reference and Administrative Details Trustees, Annual Report ndependent Examiner's Report 10 Statement of Financial Activities 11 Balance Sheet 12 Notes to the Financial Statements 13-25 Prepared By Albert Goodman LLP West Somerset Advice Bureau Reference and Administrative Details For the Year Ended 31 March 2024 Trusts6s and Directors l Aldridge D Bates J Head B Lang B O'Keefe J Parbrook Company Secretary J Head General Manager l Atkinson Principal Office and Registered ObTice The Lane Centre Market House Lane Minehead Somerset TA24 5NW Company Registration Number 06693841 Charlty Reglstrallon Number 1126930 Independent Examiner Mi¢helle Ferns Bsc (Honsl FCA DChA Albert Goodman LLP Goodwood House Blackbr¢)ok Park Avenue Taunlon Somerset TA12PX Prepared By Albert Goodman LLP West Somerset Advice Bureau Trustees, Report For the Year Ended 31 March 2024 The Trustees (who are al￿ the Directors for the purpose of C¢ynpany Law) have pleasure in presenting their annual report and the unaudtted financial statements for the year ended 31 March 2024. The provisions of the Statement of Recommended Practice 'Accounting and Reporting by CharTties' ISORP FRS 102- implemented 1 January 2019) have been adopted in preparing the annual report and financial statements of the charity. Publlc Benefit The company has provided an invaluable generic Servi￿ advising residents of West Somerset on such matters as Debts, Welfare Benefit, Taxats-on. Housing and Financial Capability, Employment and Consumer issues at no cost to the dient. The trustees also confim that Ihey have complied wrth section 4 of the Chanties Act 2011 to have due regard lo the public benefit guidance published by the Charity Commission. Structure. governance and management West S¢)merset Advi￿ Bureau is an independent chanty. registered number 1126930 and a company limited by guarantee. registered number 6693841, registered a¢SJress.' The Lane Centre. Market House Lane, Minehead. Somerset, TA24 5NW. The goveming document is the memorandum and artides of association dated 10 Seoember 2008 {amended 5 September 2011). The following trustees who are also directors for the purposes of company law, senied during the year.. l Aldridge D Bates R Clifford J Head B Lang B O'Keefe J Parbrook (Deceased on 29 March 2024) The liability of members to contribute upon the winding up or dissolution of the company is limited lo £1.00 per member. The trustees meet regularly throughout the year, at least quarterly, in order to manage the operations of the organisation. Anyone may become a member subject to approval by the Trustees who are also directors for the purpose of company law. Rollo Clifford sadly passed away during earfy 2024. Rollo was a very proactive and enthusiastic supporter of our ¢harity having carried out the role of d)air between 2019 and 2022 and remained an invaluable contributor as a Trustee after standing down as Chair. Objectivès and activities The Charity's objects are to provide or assist in the provtsion of a confidential advice and information service, and promote any Charitab￿ purpose for the public beneffl by the advancement of education. the protection and preservation of health and the relief of poverty. sickness and distress in particular, but without limitation, for the benefit of the communty in West Somerset and surrounding areas. Prepared By Albert Goodman LLP West Somfrrsot Advice Bureau Trustees. Report For the Year Ended 31 March 2024 West Somerset Advice Bureau Mission Statement West Somerset Advi￿ works to infomi individuals to understand social welfare law and how rt applies in their circumstances. supporting them to make and take decisions vthich help to achieve their olectives and improve the quality of life, health and wellbeing for themselves and their family. Our role within the community is to provide a voice which reflects to decision makers the impact of legislation on everyday lives to help to shape both local and national policies and practice. Voluiiieer4 ., Twstee5 *(* stsff mernbe￿ Wikn¢. tr• other *t •fe Life can be complicated. We can help you simplify it. Achievements and performances Wesl Somersel Advice received core funding from Somerset Council. A small number of Parrsh and Town Councils again supported the work of the charrty in their parish. The core grant provides a generic advice service to all people who live and work in the West Somerset area. now described in temis of Local Communrty Ne￿OrkS 1. 13 and 14. ,£255,34 I W 20?3 W JI M•rth 2024 Qulcoffl•s frr LOI I £99,871 .L, LOI 13 cIw** £1,206,426 IW 2023to 31 M•rth 2024 2023 ro 31 2024 We are committed to provide outreach seniices in several dtfferent places across our territory lo ènsure people less mobile are able to access our services rather than being excluded. We are very grateful for the continued support of each of Ihe Parish Councils. who provide what they are able to afford. We are particularly grateful to Wlliton and Watchet Town councils who agree servi￿ Level Agreements to support local delivery. Oiher parishes are now consKlering how to SUPF)Ort this vital local service. ' Outreach sites Always under revlew Prepared By Albert Goodman LLP West Somerset Advice Bureau Trustees, Report For the Year Ended 31 March 2024 The Trustees have worked in partnership with the four other local Citizens Advice services to rats'onal¢se provision of the service in preparation for political changes or national emergencEs. The development of joint services has created opportunities for the successful development of shared services. principally in the fomi of joint training, Adviceline and additional specialist se￿1￿. The Friends of West Somersel Advi￿ support raising funds through personal giving. Personal giving is very important to the charity, and V￿ wish lo thank everyone for the donations we re￿1Ve. We also thank the peO￿e who are alk to gift aid as this enhances their donats'on and value to the charity The donations that are made with the grateful Ihanks of our dients are important for charity to recognise as we are aware that the money is given by the people who have the least money to spare. Project worf( West Somerset residents experien￿ multiple challenges teginning with seasonal wo￿, low pay, a rural economy and the disadvantages of coastal communities compared to more urban environments. Our charity strives to maximise incomes, wovide guidance with the management of personal debt and create opportunities to minimise in work poverty. An essential element of our anti-poverty work has been with the distribution of funding to people in crisis -The Local Assistance Scheme. funded by Somerset County Council. This localised social welfare scheme is designed to assist those without the basics in life. In addition, we work in partnership with the food cupboards across our area to put food on the table and maintain heat and light. West Somersel Advice wishes to thank the West Somerset Food CuFI)oard for the continuing partnership which assists many of the most vulnerable people in the area_ We continue to deliver fo¢)d parcels via a dedicated team of volunteers. West Somerset Advice wishes to thank the West Somerset Food Cupboard for the continuing relationship which assists many of the most vulnerable in the area. Food boxes have continued to be delivered to eligible clients by a small team of dedicated volunteers on a Y￿eklY basis_ Wesl Somerset continues to have the highest per￿ntage of the population over 65 years old across Somerset. This demographic is h￿hlY recognised and represented in our work. We assist and support this group particularly wth the threat of digttal exdusion, whether through lack of money or through lack of experien￿. Access to disability benefits and other servi￿$ that have been placed online, is an area of growth. People who are required to engage with govemment departments, are helped in appeals or renewals as a result of the drive towards online customer relationship management. Geographical reach li" 19 Ety•ged p¥ths Elknt ewed Prepared By Albert Goodman LLP West Somerset Advice Bureau Trustees, Report For the Year Ended 31 March 2024 The people who approach the serrfice seldom come wth a single issue and are beginning io require much more extensive support resulting in extensive casework. Our spwalist caseworkers increasingly work as a team to guide a client through their challenges. One caseworker, part funded by Open Mental Health and the local authority, work towards cooperative relalionships between voluntary and statutory services to maintain high Standards of good mental health. Users of this element of this service regularly report that our advice provides improved well-being and menlal health. This works also with clients suffering with uncontrolled debt, where our advice provides a basis for a route to recovery. LCN 13 Metr.-£s lor Apnl 20L3 to March 2024 Debt Benefits Debt enefits Debt enefits Dr Wessex Water is a long-temi partner. We work dosely with the organisakn'on by assessing and reviewing clients, confirming agreed criteria and putting fotward people who would benefit from reduced bills. Wessex Water can choose to accept or reject any of our recommendations based on their assessment of whether or not the clients have met the benchmarks set. Partnership projects feature across the Somerset netM4ork of l¢Jcal Citizens Advi￿ offices and teams. We are currently working with Citizens Advice Somerset. We work closely with our colleagues on a small number of joint initiatives for the benefit of the whole of Somerset. Adviceline, the telephone based service provides instant solutions to clients wtthout them having to travel anywhere. Another project is the Somerset wide O￿n Mental Health proied involving over one hundred partner organisations. Funding Metrics Advice channels help to ensure that we deliver advice to fit how people like to access rt. We specialise in ensuring many face-to-face opportunrties across Ihe West Somerset estate. exploiting six outreach srtes.. Dulverton, Porlo¢k, Stogursey. Williton. Minehead. Butlin's and the main office in Minehead. We offer telephone aC￿$S via Adviceline, our dedicated email inbox is monttored constanlly and we can also interact via webchat or video conference. 360/0 .30/0 Investors C+)Iw& We successfLAly completed two different Cost-of-Living based projects The first was a Somerset Council led initiative suppcKting Somerset people and captunng the infomiation to asgst in the understanding of the depth and breadth of the prOb￿rn in Somersel. The funding for this was time limited. 140/0 Prepared By Albert Goodman LLP West Somerset Advice Bureau Trustees, Report For the Year Ended 31 March 2024 A secorKI Cost-of-Living based prqed furKled by the National Lottery lookn'ng at the impact of this Grisis on a rural community and how il prevents a local economy from developing at a speed that might be deemed helpful. This project was spread over nine months. Our charrty delivers money advice work vnth a framework accredtted through the "Good Debt Advice Slandard" and it holds the Advi￿ Qualty Standard for debt casework. Our two debt advisers maintain accreditation and oversight by the Financial Conduct Authonty. This service is approached by people in crisis. Utslities Travel Tax Relationships other Legal Immigration Housin9 2,444 Number of clients Health Hate Crime Financial Serw¢e5 Employment Edvcabon Debt Benefits UnNers31 Credit Consumer Chantable Support CORE: 41 % Prepared By Albert Goodman LLP West Somerset Advice Bureau Trustees, Report For the Year Ended 31 March 2024 Income Reserves Free reserves at the year-end amounted to £135,163 (including £6,000 designated reserves} {2023'. £68,988) 11 is currently the objective to maintain free reserves of at least th￿e months gross expenditure (£48,000) in order that unexpected revenue reqLAirements, renewals and minor repairs may be met. In addition, there is a further provision for redundancy payments of £6,000. The ¢harity owns the freehold of an elderly building vthich requires expenditure to ensure that it is fit for purpose. Financial Review During the year, the charity generated income of £216.205 of whith £nil was restricted {2023.' £190.450 of which £48,667 was restricted). Expenditure of £177,267 of which £nil was restncted (2023. £154.492 of which £23.754 was restricted) was incurred. leading to a surplus of £38.938 (2023. surplus of £35.958, £26k revaluation loss). Our surplus of £38.398 is set aside for purposes of reacting to new govemment legislation which will directly impact on our obligation to our personnel and is being held for the express purpose of off-setting a lifting of the living wage. felated pension and related people costs The financial position of the charrty remains sound with net current assets of £145,163 including restricted funds of £10.CrfJO and a designated furKJ of £6.000. The principle financial management policies of the Charty are as follows: a} Act in the interests of the charity and its beneficiaries and its charitable aims b) To manage the charity's resources responsibly cl Act wrth reasonable care and skill d) Ensure the ¢harity is accountable e} Agree and regularly review financial plans to achieve the charity's aims fj Identify and account for the restricted funds g} Monitor financial perf0rnan￿ by preparation of budgets and managemenl accounts h) Identify finanaal risks and deal wth accordingly Risk Management The Trustees have considered the major risks to vthich the charity is exposed. They have reviewed those risks and established systems and prO￿dureS to manage them appropriately. The fisk to finances and from the operation of the servio are under regular revEw to ensure that all regulations and advice is understood and implemented in the best interests of the community and the staff. A RAID log is maintained and all individuals working from the office have completed individual risk assessments. Prepared By Albert Goodman LLP **West Somerset Advice Bureau** Trustees' Report For the Year Ended 31 March 2024 ## **Statement of Trustees' Responsibilities** The trustees (who are directors of West Somerset Advice Bureau for the purposes of company law) are responsible for preparing the Trustees' Annual Report (incorporating the Directors' Report) and the financial statements in accordance with applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 _The Financial Reporting Standard applicable in the UK and Republic of Ireland_ (United Kingdom Generally Accepted Accounting Practice). Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and the income and expenditure of the charitable company for that period. In preparing these financial statements, the trustees are required to: - select suitable accounting policies and then apply them consistently; - observe the methods and principles in the Charities SORP; - make judgments and estimates that are reasonable and prudent; - state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements, and - prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business. The trustees are responsible for keeping adequate accounting records that 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. Approved by order of the board on 21 August 2024 and signed on their behalf by: D Bates Trustee Prepared By Albert Goodman LLP 9 **West Somerset Advice Bureau** Independent Examiners' Report to the Trustees For the Year Ended 31 March 2024 ## **Independent examiners report to the Trustees of West Somerset Advice Bureau** I report to the charity trustees on my examination of the accounts of West Somerset Advice Bureau ("the Company") for the year ended 31 March 2024. ## **Responsibilities and basis of report** As the charity's trustees of the Company[(] and also 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 your charity's accounts as 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 material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect: 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 comply with these 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[p] reparing their accounts in accordance with the Financial Reportin[g ] 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. · Michelle Ferris BSc (Hons) FCA DChA · Albert Goodman LLP Goodwood House Blackbrook Park Avenue Taunton Somerset TA1 2PX Dated: 08 September 2024 _-_ Prepared By Albert Goodman LLP 10 West Somerset Advice Bureau Statement of Financial Activities (including Income and Expendrture Account) For the Year Ended 31 March 2024 Unre- Notss stricted stricted Funds Funds Unre- Re- 2024 stricted stricted Total Funds Funds 2023 Total Income from.. Donations (including grants) Charitable activities Other trading actiwties Income from investments 168,120 15,622 10.314 2.324 19.825 187,945 114.007 17,000 131,007 15.622 19.205 31.667 50.872 10.314 8,070 8,070 2.324 501 501 Total 1%,380 19.825 216.205 141.783 48,667 190,450 Expendlture on: Chantable activities 131,525 45,742 177,267 130.738 23.754 154.492 Total 131,525 45,742 177.267 130,738 23.754 154,492 Net income l {expenditure) for the year before transfers 64,855 {25.917) 38,938 11,045 24,913 35,958 Transfers Other re¢ognised gainsl{losses)'. Land and buildings revaluation 10 (26,1)00) (26,OiJ)I Net movements in funds 64.855 (25,917) 38,938 (14.955) 24.913 9,958 Reconciliation of funds: Fund balances brought forward 176,868 35.917 212.785 191,823 11.004 202,827 Fund balances carried forward 241.723 10.OIJO 251,723 176,868 35,917 212,785 The results for the year derive from continuing activrties and there are no gains or losses other than those shown above. The statement of finanoal activities incorporates the income and expendibjre account. Prepafed By Albert &)odman LLP 11 **West Somerset Advice Bureau - Company Registration Number: 06693841** Balance sheet As at 31 March 2024 |**Fixed assets**
Tangible fixed assets
**Current assets**
Debtors
Cash at bank and in hand
**Creditors**
Amounts falling due within one year
**Net current assets**
**Net assets**
**Unrestricted funds**
General funds
Revaluation reserve
Designated funds
**Restricted funds**
**Notes**
7
8
9
10
10
10
10|5,682
146,314
151,996
(6,833)|**2024**
**£**
106,560
145,163
251,723
159,223
76,500
6,000
241,723
10,000
251,723
24,436
85,354
109,790
(4,885)|**2023**
**£**
107,880
104,905
212,785
94,368
76,500
6,000
176,868
35,917| |---|---|---|---| ||||212,785| These accounts have been prepared and delivered in accordance with the special provisions relating to small companies within Part 15 of the Companies Act 2006 and the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). For the year in question, the charitable company was entitled to exemption from an audit under section 477 of the Companies Act 2006. The members have not required the charitable company to obtain an audit of its accounts for the year in question in accordance with section 476 of the Act. The trustees/directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. Approved by the Board for issue on 21 August 2024 and signed on its behalf by: D Bates B O'Keefe Trustee Trustee 12 Prepared By Albert Goodman LLP West Somerset Advice Bureau Notes to the Financial Statements For the Year Ended 31 March 2024 Accounting policies Genèral infomiation and basis of preparation West Somerset Advice Bureau is a company limited by guarantee incorporated in the United Kingdom under the Companies Ad. The address of the registered office is given on page 2. The nature of the charity's operations and its principal activities are set OLrt in the Trustees report on pages 3-7. The financial statements have been prepared under the historic cost convention. The financial statements have been prepared in accordan￿ y￿h Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charrties preparing their accounts in accordance with Ihe Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)4Charities SORP {FRS102)), the Financial Reporting Standard applicable in the UK and Repul￿1¢ of Ireland (FRS 1021 and the CompanTres Act 20C6. The charity meets the definition of public benefft under FRS 102. Assets and liabilities are inrtially recognised at historical cost ￿ transaction value unless Otherv￿Se stated in the relevant accounts'ng policy. 1.2 Income All income is included in the statement of financial activitTres when the charity is entitled to the income, it is probable that the income will be r￿1Ved and the amount can be quantified with reasonable accuracy. Where funds are received in advance. for a specified period, these funds are deferred and recognised in the period to which they relate. 1.3 Donations and legacies Donations are re¢ognised when the charity has been notified in writing of both the amount and settlement date. In the event that a donation is subject to conditions that require a level of perfomiance by the charity before the charity is entrtled to the funds. the income is deferred and not recognised until either those conditions are fully met. or the fu￿lment of those conditions is wholly within the control of the ¢hanty and it is probable thal these conditions will be fulfilled in the reporting period. 1.4 Government grants Government grants are a¢¢ounted for when uncondiiionally due and reasonable assurance can be gained that it will be received. Where funds are received in advance, for a specified period, these funds are deferred and recognised in the period to which they relate. Where funds have not been received in a specified period, these funds will be accrued in debtors and recognised in the peritsj to which they relate. Not all grants received have condrtions and perfomiance indicators altached, where this is the case. the income is induded within donations. Performance related grants are included within Charitable Activities income. 1.5 Expenditure All expenditure is recognised On￿ the￿ is a legal or constructive obligation to that expenditure, it is probable setUement is required and the amount can be measured reliably. All costs are allocated lo the applicable expenditure heading that aggregate similar costs to that ¢aleg¢)ry. Where costs cannot be directly attnbuted to path"cular headings they have been allocated on a basis consistent wth the use of resources. wth central staff costs allocated on the basis of time spent. and depre￿atIOn charges allocated on the portion of the assevs use. Other support costs are allocated based on the spread of staff costs. Prepared By Albert Goodman LLP 13 Vvest Somerset Advice Bureau Notes to the Financial Statements For the Year Ended 31 March 2024 Support costs include central functions and have been allocated to activity cost categories on a basis consistent with the use of resources. for example. allocating property costs by floor areas, or per capita. staff costs by the time spent and other costs by their usage. These include the costs attributable to the charity's compliance with constitutional and statutory requirements, including independent examiners fee. strategic management and trustees, meetings and reimbursed expenses. 1.6 Taxation The charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finan￿ Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the charity is exempt from taxation in respect of income or capital gains received within calegories covered by Chapter 3 Part 11 of Ihe Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes. The charity is not VAT registered and therefore all Gosts are inclusive of VAT. Tangible fixed assets Individual fixed assets costsng £200 or more are initially recorded at ¢ost. less any subsequenl accumulated dèpreciation and subsequent accumulated impairment losses. The charity's freehold premises in Market House Lane is included at valuation. The property value is reviewed every five years by the trustees, and due to the assevs long useful economic life and ils regular maintenance and repair program. the trustees consider depreciation to be immatenal. Depreciation and amortisation Depreciation is provided on tangible fixed assets. except property that is not depreciated, so as to write off the cost or valuation, less any estimated residual value. over their expected useful e¢onomi¢ lrfe as follows.. Asset class Fixtures and fittings Office equipment Deprnciation method and rate 25°A reducing balance basis 25% reducing balance basis 1.9 Trade debtors Trade deblors are amounts due from customers for merchandise sold or servi￿$ perfomed in the ordinary course of business. Trade debtors are recognised initially at the transadion price. They are subsequently measured at amortised cost using the effective interest method. less provision for impairment. A provision for the impaimienl of trade debtors is established when there is objective evidence that the charity will not be able to collect all amounts due ac¢ording to the original terms of the receivables. Prepared By Albert Goodman LLP 14 West Somerset Advice Bureau Notes to the Financial Statements For the Year Ended 31 March 2024 1.10 Cash and cash equivalents Cash and cash equivalents comprise cash on hand and call deposits. and other short-term highly liquid investments that are readily convertible to a known amounl of rAsh and are subject to an insignificanl risk of change in value. 1.11 Trade creditors Trade credrtors are Obl￿atIonS to pay for gocrfjs or services that have been acquired in the ordinary course of business from suppliers. Accwnts payable are classified as current liabilities rf the charity does not have an uncondrtional right. at the end of the reporting period, to defer settlement of the credrtor for at least twelve months after the reporting date. If there is an uncondrtional right to defer settlement for at ￿ast twelve months after the reporting date, they are presented as non-current liabilities. Trade creditors are recognised initi'ally at the transaction price and subsequerrtly measured at amorts'sed Gosl using the effective interest method. Where grants are received in advance, for a speGtfied period, these funds are deferred and re¢ognised in the period to which they relate. 1.12 Fund $tru¢ture Unrestricted income funds are general funds that a￿ available for use at the trustees. discretion in furtherance of the obj'ectives of the charity. Designated funds are unrestricted furKls set aside for specthc purposes at the discretion of the trustees. Restricted income funds are those donated for use in a parttcular area or for specific purposes, the use of which 1$ restricted to that a￿a or purFW. 1.13 Flnanclal Instruments The charity only hokls basic financial instruments as defined in FRS 102. The financial assets and liabilities of the chanty and their measurements are as follows. Financial assets trade and other debtors are basic financial instruments and are debt instruments measured at amortised cost. Prepayments are not finan¢ial instruments. Cash at bank- is dassffied as a basic finan(aal instrument and is measured at fa￿ value. Financial liabilities - trade credrtors, accruals and other creditors are financial instruments, and are measured at amortised cost. Taxation and social securty are not induded in the financial instruments disclosure definits"on. Deferred income is not deemed to be a finanaal liability, as the cash settlement has already taken place and there is an obligation lo deliver ServI￿S rather than cash or another financial instrument. Prepared By Albert Goodman LLP 15 West Somerset Advice Bureau Notes to the Financial Statements For the Year Ended 31 March 2024 Income from donations and legacies Unre- stricted Funds Unre- stricted Funds stricted Funds Total 2024 $triGted Funds Total 2023 Donations and legacies: Individuals Community grow)s Grants: Somersel County Council - Pubic Health Funding. Operation Boost" Household Support Fund" The Fairfield Trust Somersel Wesl & Taunton Council" Clinical Commissionin9 Group National Lollery Community Fund Citizens Admce Mendip Willilon T¢)wn Councd. Watchel Town Council - Fvel Project. Taunton CA - DeblHousing Proiect Resettlement Fund Crtizens Admce - Cost of Living Grant 1,132 8.750 1.132 8.750 781 2,6¢)0 781 2,600 12,070 12,070 12,070 8.187 540 12.070 8,187 540 16.500 16,500 56,560 5,673 50,002 39,730 12.250 39,730 12,250 5,673 50.002 20,279 20,279 5.IXIO 2,000 2.000 17,570 10,542 1.891 10,542 1,891 19,825 17.570 19,825 15,000 15.000 168.120 19,825 187.945 114,007 17.000 131.007 'denotes government grant p￿ pared By Albert Goodman LLP 16 West Somerset Advice Bureau Notes to the Financial Statements For the Year Ended 31 March 2024 Income from charitable activities Unre. Re• stricted stricted Funds Funds Unre• stricled Fund$ Re. stricted Fund$ Totsl 2024 Total 2023 Somersel CcKnmunity Foundation Wessex Water SCC - Local Assistance Scheme. Citizens Admce - Open Mentsl Health Citizens AdMce- Somerset Cases 15,OC(J 15,000 5,040 9.735 16.667 4,430 5.040 9.735 11.422 11.422 16,667 4.430 15.622 15,622 19.205 31,667 50,872 'derK)tes govemment grant Prepared By Albert Goodman LLP 17 West Somerset Advice Bureau Notes to the Financial Statements For the Year Ended 31 March 2024 Expenditure on charitable activities Unre- stricted Funds Unre- stri¢ted Funds Re- stricted Funds stricted Funds Total 2024 Total 2023 Premises costs Light & heat Building repairs Premises insurance Water charges Business rates Office and admlnistration costs IT equipment and support Depreciation fixtures and equipment Bookkeeping and payroll fees Postages Printing and stationery Subscriptions & infomiation systems Telephone Website Costs Photocopier Lease Costs Language Line Office - Other Secure destruction Subsistence & refreshments Volunteer costs Governance Accountancy fees Independent examiner fees Annual Return fee Legal and professional fees Trustee costs Other Bank charges Miscellaneous Other - Publicity and Promotion Watchet Town Council - Fuel Project 3,742 2,871 1,115 729 3,742 2.871 1.115 729 3,663 2,017 1,045 577 337 3,663 2,017 1,045 577 337 2,838 1,320 1,900 2,838 1,320 1.900 882 1,562 2,987 6.604 1,032 1,369 23 238 476 340 368 2,023 1,788 1,860 1,179 1,471 4,170 6,725 2.023 1,788 1.860 1,179 1,471 4,170 6,725 1.562 2.987 6,604 1,032 1,369 23 238 476 1,369 50 476 463 1,369 50 476 483 66 286 1.010 1,29) 13 4.744 1,010 1,290 13 4.744 900 1.180 46 4.979 600 900 1,180 46 4,979 600 180 223 390 216 162 654 216 162 654 2,925 223 390 2,925 Carried forward 38,246 38.246 38,302 2,925 41.227 Prepared By Albert Goodman LLP 18 West Som8rset Advice Bureau Notes to the Financial Statements For the Year Ended 31 March 2024 4 Expendlture on charitable activities IconL) Slaff costs Unre Re- strlthd strlcted Funds Funds Unre- strlcted Funds Total 2024 strlcted Funds Total 2023 Brought forward 38,246 38,246 38,302 2,925 41,227 Direcl wages and salaries Employer pension contributions Staff training .520 2,114 645 45.742 136,262 2,114 645 90,148 1,973 315 20.829 110,977 1,973 315 93.279 45.742 139.021 92.436 20.829 113.265 Total 131.525 45,742 177,267 130,738 23,754 154,492 5 Trustees remunerallon and expenses £331 of expenses and mileage were reimbursed to one trustee by the Bureau during the year (2023.. £975 to two trustees>. 6 Staff costs The aggregate payroll costs were as follows.. 2024 2023 Staff costs durlng the year wefe". Wages and salaries Social security costs Pension costs Other staff costs 127,627 8,635 2.114 645 104,084 6,893 1,973 315 139,021 113,265 No employee received emoluments of more than £60,000 dunng the year (2023- none). Defined contribution nsion scheme The cornpany operates a defined Contribution pension scheme. The pension Gost charge for the year represents contribLrtions payable by the company to the scheme and amounted to £2,114 {2023- £1.973). Prepared By Albert Goodman LLP 19 West Somerset Advice Bureau Notes to the Financial Statements For the Year Ended 31 March 2024 Staff costs {cont.) Contributions totalling £nil (2023 £630) were payable to the s¢heme at the end of the year and are included in creditors. No Iruslees were remunerated in the curr8nt or prior year. At the balance sheet date the amount due to the trustees was £nil The key management petsonnel of the charity are considered to be the general manager. The total costs to the charity of employee benefits for the key management personnel were £19.215 {2023. £18.291). The average rnonthly head Count wa$ 8 staff {2023.' 8 staffj. 7 Tangible fixed assets Furniture and equipment Land and buildings Total Cogt or Yaluatlon At 1 April 2023 Additions Revaluation 102.549 48,675 151.224 At 31 March 2024 102,549 48.675 151,224 Depreciation At 1 April 2023 Charge for the year 43,344 1.320 43,344 1,320 At 31 March 2024 44.664 44,664 Net book value At 31 March 2024 102,549 4,011 106,560 At 1 April 2023 102,549 5,331 107.880 The fair value of the chanty's freehobj land and buildings was ascertained on 10 January 2020 by an independent valuer. on a basis of open market value. by Chartered Surveyors. Greenslade Taylor Hunt. who valued the property at £125,OC(i. The original carying amount at hisloncal cost is £22,500. Planning pemission {acquired Mar 2020), to convert the property from professional to residential, has since expired and has not been renewed. As a result of this. the property was revalued by the trustees during the prior year to ￿fIe¢l the reduction in value. Prepared By Albert Goodman LLP 20 West Somerset Advice Bureau Notes to the Financial Statements For the Year Ended 31 March 2024 8 Debtors 2024 2023 Prepaymenls Other debtors 1,408 4.274 1,527 22.909 5,682 24,436 9 Creditors: amounts falling due wlthin one year 2024 2023 Trade creditors Other taxation and social sewrity A¢cruals 1,348 2,508 2,977 415 1,550 2.920 6,833 4,885 Prepared By Albert Goodman LLP 21 Vvest Somerset Advice Bureau Notes to the Financial Statements For the Year Ended 31 March 2024 10 Funds runas brought forward 01104123 I ransiers & other gains I (losses) runas carried forward 31103124 Income Expendlture Unrestricted funds General Unreslricted Income Fund Revaluation Reserve 94,368 76,500 196,380 (131,525) 159,223 76,500 170,868 196.380 (131,5251 235,723 Designated Funding Reserye 6.000 6.000 Tolal Unrestricted funds 176.868 196.380 (131.525) 241,723 Restricted funds National Lottery Fund Somerset Community Foundation Outreach Citizens Advice - Cost of Living Citizens Advice - OMH 10,000 10.000 2.917 15,000 8.000 (2.917) {34.825) (8,000) 19.825 Total Restricted funds 35,917 19,825 {45,7421 10,000 Total funds 212.785 216.205 {177.267) 251,723 Prepared By Albert Goodman LLP 22 West Somerset Advice Bureau Notes to the Financial Statements For the Year Ended 31 March 2024 10 Funds- Prior year 2023 runas brought forward 01104122 runos ¢arriad forward 31103123 Income Expenditure Transfers Unrestricted funds General Unrestricted Income Fund Revaluation Reserve 83.323 102.500 141,783 (130.738) 94.368 76,500 (26,0001 185.823 141.783 (130,738) (26,000} 170.868 Designated Funding Reserve 6,000 6,000 Total Unrestricted funds 191,823 141.783 {130,738) (26,000} 176,868 Restrlcted funds National Lottery Fund Watchel Town Council Fuel ProJect Somerset Community Foundation Outreach Development C￿'ZenS Advice - Cost of Liwng Citizens Advice - OMH 10.0(X) 10,000 1,004 2,000 (3.004) 5.000 10.000 15.000 16.667 {2,083) (10.000) 2,917 15,000 8,000 (8,667) Total Restricted funds 11,004 48,667 123.754) 35,917 Total funds 202,827 190.450 {154,4921 (26,000) 212,785 Prepare