IJ GRACE ADVOCACY Trustees Report 2023
Aims & purposes
Grace Advocacy (the operating name of Grace Debt Advice) is an advocacy service that helps clients stabilise their lives financially and access the assistance they require in six core areas of need:
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Income (Benefits);
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Housing;
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Disability;
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Health care;
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Social Care; and
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Debt.
History of charity
Grace Debt Advice was formed in 2010 to offer a holistic model of debt advice that:
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Focused on assisting clients attain long term financial stability as opposed to the current
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advice model that limits itself to addressing the client’s immediate debt crisis;
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Provided clients with the practical assistance they needed both to implement the advice and to stabilise their circumstances;
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Reached isolated groups who were struggling to access the help they needed;
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Was highly flexible, innovative and low cost in the delivery of its services.
The charity was awarded funding by the London Borough of Richmond upon Thames and the NHS to develop and pilot its service model for carers in the borough of Richmond. The pilot was launched in September 2011 and following its successful outcome the charity then went on to win a three-year contract to continue delivering its services to carers as part of the Richmond Carers Hub. Since then, the charity has expanded its services to include advocacy support that covered the following additional areas:
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Benefits
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Housing
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Disability
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Health care; and
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Social Care.
Achievements & performance
The charity delivered its services to those in need in the following areas:
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Bridgwater, Somerset.
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Burnham-on-Sea, Somerset.
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Brighton, East Sussex.
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Eastbourne, East Sussex.
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Haywards Heath, West Sussex.
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Worthing, West Sussex.
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Greater London:
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Enfield;
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Kingston upon Thames; and
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Richmond upon Thames.
Financial review
The two primary sources of funding were donations from the public and partner organisations. This year's accounts differ from their predecessors in that they now show donations in kind.
Reserves policy
It is the objective of the trustees to achieve a level of reserves that equates to between 3 to six months of future committed monthly expenditure. The reserves at year end met this objective.
Volunteers
The charity is currently solely staffed and run by volunteers. We would like to thank all the volunteers who have worked so hard to serve the vulnerable in the communities that the charity serves.
Structure governance & management
The charity is managed by a Managing Trustee who is responsible for ensuring that the charity delivers the services specified and that key performance indicators are met. The Managing Trustee reports to a board of trustees. The trustees meet quarterly. The role of trustee, unless otherwise determined by ordinary resolution, is not subject to any maximum period of service.
Administrative information
Grace Advocacy is the operating name of Grace Debt Advice. Grace Debt Advice is a:
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Charity registered in England & Wales No. 1143175;
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Company limited by guarantee registered in England & Wales No. 07461047; and
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Licensed by the Office of Fair Trading for debt adjusting and counselling No. 641132.
Address
Grace Advocacy
PO Box 238
Eastbourne
BN24 9HN
Trustees
Mr Gary Holland (Managing Trustee)
Mr Adam Daniel Barnard
Mrs Alexander Barling
Independent Examiner
MHR Consultancy Ltd are the charitable company’s independent examiners.
MHR Consultancy Ltd
Ferneberga House
Alexandra Road
Farnborough
GU14 6DQ
REGISTERED COMPANY NUMBER: 07461047 (England and Wales) REGISTERED CHARITY NUMBER: 1143175
REPORT OF THE TRUSTEES AND
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023
FOR
Grace Debt Advice
(A Company Limited by Guarantee)
MHR Consultancy Limited Ferneberga House Alexandra Road Farnborough GU14 6DQ
Grace Debt Advice
CONTENTS OF THE FINANCIAL STATEMENTS for the Year Ended 31 December 2023
| Page | |||
|---|---|---|---|
| Report of the Trustees | 1 | ||
| Independent Examiner's Report | 2 | ||
| Statement of Financial Activities | 3 | ||
| Balance Sheet | 4 | ||
| Notes to the Financial Statements | 5 | to | 8 |
| Detailed Statement of Financial Activities | 9 |
Grace Debt Advice
REPORT OF THE TRUSTEES
for the Year Ended 31 December 2023
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 December 2023. The trustees have adopted the provisions of 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 2019).
STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document
The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.
Related parties
The Trustees fees relate to payments made to G Holland in relation to his position as CEO of the charity. These fees consist of fees of £19,454 (2022 £15,808).
REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number
07461047 (England and Wales)
Registered Charity number
1143175
Registered office
Ferneberga House Alexandra Road Farnborough GU14 6DQ
Trustees
Ms A Barling Retired A D Barnard Company Director G Holland Company Director
Company Secretary
Independent Examiner
Mark Byron Blackwell MHR Consultancy Limited Ferneberga House Alexandra Road Farnborough GU14 6DQ
Approved by order of the board of trustees on 3 August 2024 and signed on its behalf by:
G Holland - Trustee
Page 1
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF GRACE DEBT ADVICE
Independent examiner's report to the trustees of Grace Debt Advice ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 December 2023.
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 matters have come to my attention in connection with the examination giving me cause to believe:
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accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or
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the accounts do not accord with those records; or
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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
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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.
Mark Byron Blackwell
MHR Consultancy Limited Ferneberga House Alexandra Road Farnborough GU14 6DQ
3 August 2024
Page 2
Grace Debt Advice
STATEMENT OF FINANCIAL ACTIVITIES
for the Year Ended 31 December 2023
| 31.12.23 | 31.12.22 | |||||
|---|---|---|---|---|---|---|
| Unrestricted | Restricted | Total | Total | |||
| fund | funds | funds | funds | |||
| Notes | £ | £ | £ | £ | ||
| INCOME AND ENDOWMENTS FROM | ||||||
| Donations and legacies | 145,454 | - | 145,454 | 146,855 | ||
| Charitable activities | ||||||
| Core Activities | 600 | - | 600 | 3,147 | ||
| Total | 146,054 | - | 146,054 | 150,002 | ||
| EXPENDITURE ON | ||||||
| Raising funds | 50 | - | 50 | - | ||
| Charitable activities | ||||||
| Core Activities | 151,045 | 446 | 151,491 | 158,322 | ||
| Total | 151,095 | 446 | 151,541 | 158,322 | ||
| NET INCOME/(EXPENDITURE) | (5,041) | (446) | (5,487) | (8,320) | ||
| RECONCILIATION OF FUNDS | ||||||
| Total funds brought forward | 25,017 | 1,267 | 26,284 | 34,604 | ||
| TOTAL FUNDS CARRIED FORWARD | 19,976 | 821 | 20,797 | 26,284 |
The notes form part of these financial statements
Page 3
Grace Debt Advice
BALANCE SHEET
31 December 2023
| 31.12.23 | 31.12.22 | |||||
|---|---|---|---|---|---|---|
| Unrestricted | Restricted | Total | Total | |||
| fund | funds | funds | funds | |||
| Notes | £ | £ | £ | £ | ||
| CURRENT ASSETS | ||||||
| Cash at bank | 19,976 | 821 | 20,797 | 26,291 | ||
| CREDITORS | ||||||
| Amounts falling due within one year | 4 | - | - | - | (7) | |
| NET CURRENT ASSETS | 19,976 | 821 | 20,797 | 26,284 | ||
| TOTAL ASSETS LESS CURRENT LIABILITIES | 19,976 | 821 | 20,797 | 26,284 | ||
| NET ASSETS | 19,976 | 821 | 20,797 | 26,284 | ||
| FUNDS | 5 | |||||
| Unrestricted funds | 19,976 | 25,017 | ||||
| Restricted funds | 821 | 1,267 | ||||
| TOTAL FUNDS | 20,797 | 26,284 |
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
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(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
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(b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.
The financial statements were approved by the Board of Trustees and authorised for issue on 3 August 2024 and were signed on its behalf by:
G Holland - Trustee
A D Barnard - Trustee
The notes form part of these financial statements
Page 4
Grace Debt Advice
NOTES TO THE FINANCIAL STATEMENTS for the Year Ended 31 December 2023
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, 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 accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Taxation
The charity is exempt from corporation tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
2.
TRUSTEES' REMUNERATION AND BENEFITS
| TRUSTEES' REMUNERATION AND BENEFITS | ||
|---|---|---|
| 31.12.23 | 31.12.22 | |
| £ | £ | |
| Trustees' fees | 19,404 | 15,808 |
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 December 2023 nor for the year ended 31 December 2022.
3.
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| Unrestricted Restricted fund funds £ £ INCOME AND ENDOWMENTS FROM Donations and legacies 146,855 - Charitable activities Core Activities 3,147 - Total 150,002 - EXPENDITURE ON Charitable activities Core Activities 157,173 1,149 NET INCOME/(EXPENDITURE) (7,171) (1,149) RECONCILIATION OF FUNDS Total funds brought forward 32,188 2,416 TOTAL FUNDS CARRIED FORWARD 25,017 1,267 |
Total funds £ 146,855 3,147 150,002 158,322 (8,320) 34,604 26,284 |
|---|---|
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continued...
Grace Debt Advice
NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 December 2023
4. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| Trade creditors 5. MOVEMENT IN FUNDS Unrestricted funds General fund Restricted funds Somerset Community Foundation - Somerst Growth Somerset Community Foundation - Homeless Fund Live West - Digital Inclusion TOTAL FUNDS Net movement in funds, included in the above are as follows: Unrestricted funds General fund Restricted funds Somerset Community Foundation - Homeless Fund TOTAL FUNDS Comparatives for movement in funds Unrestricted funds General fund Restricted funds Somerset Community Foundation - Somerst Growth Somerset Community Foundation - Homeless Fund Live West - Digital Inclusion Disability Workshop TOTAL FUNDS |
31.12.23 31.12.22 £ £ - 7 Net movement At At 1.1.23 in funds 31.12.23 £ £ £ 25,017 (5,041) 19,976 430 - 430 767 (446) 321 70 - 70 1,267 (446) 821 26,284 (5,487) 20,797 Incoming Resources Movement resources expended in funds £ £ £ 146,054 (151,095) (5,041) - (446) (446) 146,054 (151,541) (5,487) Net movement At At 1.1.22 in funds 31.12.22 £ £ £ 32,188 (7,171) 25,017 830 (400) 430 1,016 (249) 767 70 - 70 500 (500) - 2,416 (1,149) 1,267 34,604 (8,320) 26,284 |
|---|---|
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continued...
Grace Debt Advice
NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 December 2023
5. MOVEMENT IN FUNDS - continued
Comparative net movement in funds, included in the above are as follows:
| Unrestricted funds General fund Restricted funds Somerset Community Foundation - Somerst Growth Somerset Community Foundation - Homeless Fund Disability Workshop TOTAL FUNDS A current year 12 months and prior year 12 months combined position is as follows: Unrestricted funds General fund Restricted funds Somerset Community Foundation - Somerst Growth Somerset Community Foundation - Homeless Fund Live West - Digital Inclusion Disability Workshop TOTAL FUNDS |
Incoming Resources Movement resources expended in funds £ £ £ 150,002 (157,173) (7,171) - (400) (400) - (249) (249) - (500) (500) - (1,149) (1,149) 150,002 (158,322) (8,320) Net movement At At 1.1.22 in funds 31.12.23 £ £ £ 32,188 (12,212) 19,976 830 (400) 430 1,016 (695) 321 70 - 70 500 (500) - 2,416 (1,595) 821 34,604 (13,807) 20,797 |
|---|---|
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Unrestricted funds General fund Restricted funds Somerset Community Foundation - Somerst Growth Somerset Community Foundation - Homeless Fund Disability Workshop TOTAL FUNDS |
Incoming Resources Movement resources expended in funds £ £ £ 296,056 (308,268) (12,212) - (400) (400) - (695) (695) - (500) (500) - (1,595) (1,595) 296,056 (309,863) (13,807) |
|---|---|
continued...
Page 7
Grace Debt Advice
NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 December 2023
6. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 December 2023.
Page 8
Grace Debt Advice
DETAILED STATEMENT OF FINANCIAL ACTIVITIES for the Year Ended 31 December 2023
| DETAILED STATEMENT OF FINANCIAL ACTIVITIES for the Year Ended 31 December 2023 |
||
|---|---|---|
| 31.12.23 | 31.12.22 | |
| £ | £ | |
| INCOME AND ENDOWMENTS | ||
| Donations and legacies | ||
| Donations in Kind | 117,170 | 127,515 |
| Donations | 28,284 | 19,340 |
| 145,454 | 146,855 | |
| Charitable activities | ||
| Sales | 600 | 3,147 |
| Total incoming resources | 146,054 | 150,002 |
| EXPENDITURE | ||
| Raising donations and legacies | ||
| Professional Fundraising Fees | 50 | - |
| Charitable activities | ||
| Trustees' fees | 19,404 | 15,808 |
| Staff - Donations in Kind | 2,000 | 36,939 |
| Insurance | 730 | 725 |
| Telephone | 558 | 467 |
| Postage and stationery | 484 | 390 |
| Sundries | - | 64 |
| Staff Training | - | 900 |
| Travel & Entertaining | 6,233 | 5,374 |
| Computer and IT Costs | 2,427 | 3,353 |
| Subscriptions | 879 | 688 |
| Donations made | 1,873 | 653 |
| Project Delivery | 1,192 | 1,689 |
| Room Rent - In Kind | 71,122 | 34,810 |
| IT - Donations in Kind | 41,292 | 55,766 |
| Other Donations in Kind | 2,757 | - |
| 150,951 | 157,626 | |
| Support costs | ||
| Finance | ||
| Project Consultancy & Delivery | - | 156 |
| Governance costs | ||
| Accountancy and legal fees | 540 | 540 |
| Total resources expended | 151,541 | 158,322 |
| Net expenditure | (5,487) | (8,320) |
This page does not form part of the statutory financial statements
Page 9