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← Life Centre Stourbridge

2024-03-31-accounts

Life Centre Stourbridge Annual Report & Accounts 1[st] April 2023 to 31[st] March 2024

“Helping people ‘do’ life”

Charity registration number: 1156191

Annual Report, Review & Accounts for Life Centre Stourbridge

Contents

Trends .................................................................................................................................................... 3 Operational Summary 2023/24 .............................................................................................................. 3 Additional ‘Soft outcomes’ ................................................................................................................. 5 Delivery Outreach .................................................................................................................................. 5 Organisational achievements ................................................................................................................. 5 Client/referral agency feedback: ............................................................................................................ 6 Challenges .............................................................................................................................................. 6 Opportunities ......................................................................................................................................... 6 Summary from the Chair ........................................................................................................................ 7 Financial Review ..................................................................................................................................... 7 Statement of Receipts and Payments Accounts – all funds ................................................................ 8 Statement of Receipts and Payments Accounts – by fund ................................................................. 9 Receipts ............................................................................................................................................ 10 Payments .......................................................................................................................................... 11 Reserves ........................................................................................................................................... 11 Independent Examination ................................................................................................................ 11 Governance .......................................................................................................................................... 11 Trustees ............................................................................................................................................ 12 Charity Details .................................................................................................................................. 12 Charity objectives ............................................................................................................................. 12 Independent Examiner’s Report ....................................................................................................... 14 Appendix 1 – The Faithworks Charter .................................................................................................. 15

Page 2 of 15

Charity registration number: 1156191 Authorised & regulated by the Financial Conduct Authority: Reference number: 618789

Annual Report, Review & Accounts for Life Centre Stourbridge

Trends

----- Start of picture text -----
Demand: Number of Households referred for, and offered LCDA support
160 160
146
Referrals to LCDA
140 132 140
New Clients
120 110 120
100 89 100
80 76 75 75 69 72 80
60 49 60
40 30 3734 34 44 42 40 41 40
20 14 20
0 0
2014/15 2015/16 2016/17 2017/18 2018/19 2019/20 2020/21 2021/22 2022/23 2023/24
Covid-19 Covid-19
Number of Households
----- End of picture text -----

Operational Summary 2023/24

ACTIVITY Numbers Comments
Open cases - households received
advice & support		 169 Comprising 260 individuals inc children
New referrals received 146 over 12 months – upby15%
New referrals taken up as active
clients		 72 Target of 50% of referrals taken on is
constrained by capacity of debt
advisers/complexityof the cases
Open cases that took part in at least 1
advice appointment		 84 50% of 169 open cases
Current case load of active clients as
at 31 March 2024		 69
Referrals in triage/waiting for a 1st
Appt as at 31 March 2024		 47 Households with debts waiting to be taken
on as active clients (of which 30 are
assigned to HTOH)
New referrals signposted to other
agencies after triage; e.g. Welfare		 16 Money management/debt issues more
appropriately handled by another agency or
due to a lack of capacitywithin LCDA

Page 3 of 15

Charity registration number: 1156191 Authorised & regulated by the Financial Conduct Authority: Reference number: 618789

Annual Report, Review & Accounts for Life Centre Stourbridge

ACTIVITY Numbers Comments
Rights, DWP, CAB, Step Change,
Thrive,alternative CMA Centre
New referrals failed to engage 17 did not respond after several attempts at
contact/did not attend appointment offered
SERVICE PERFORMANCE
Number of appointments offered 296 Dependent on availability of qualified Debt
Advisers
Number of appointments taken up 236 80% taken up, a consistent level over recent
years
Appointments delivered face-to-face 64% Telephone(27%),email(6%),Zoom(1%)
New referrals deemed in ‘crisis’ had
their first appointment within 9
calendar days		 100% A key metric achievement for our service
New referrals identified as in debt
had their first appointment within 30
calendar days		 100% We aim to see non-crisis debt clients within
one month of referral, but some have had
to wait longergiven our limited capacity
Average advice appointment length
(face-to-face, phone,email)		 80 minutes Initial assessment appointments take 2-3
hours
Length of client engagement 6 months –
2 years		 Dependent on complexity of debts and
client capacity to maintain repayment
arrangements
DEBT RESOLUTION OUTCOMES
Amount of debt absolved £229,487 Representing ~18% of total debt presented;
already 50% higher than LCDA’s best ever
performance (2023) with 4 weeks still to
complete theyear.
Total no of cases closed 92 Average debtper case = £2,494
Average amount of debt per open
client		 £12,274 £2,074,306 over 169 open clients
Average amount of debt per new
client		 £12,004 £828,278 /69
Case files closed – successful or stable
debt resolution inplace		 45 No longer in problem debt/debts absolved.
Average debt reduction is £5,098per case.
Case files closed – short term
engagement		 27 Includes those signposted to other services,
those who wanted/ needed short term
support/advice e.g. household budgeting
Number receiving Financial
Statements		 169 All open clients receive a (draft) Financial
Statement after first appointment
New Debt Repayment Plans/Debt
Relief Orders		 ~45 This will be a similar number to the cases
closed.
Number of people helped to increase
benefit entitlements &/or improve
income		 17 For example, claiming pension credit.

Page 4 of 15

Charity registration number: 1156191 Authorised & regulated by the Financial Conduct Authority: Reference number: 618789

Annual Report, Review & Accounts for Life Centre Stourbridge

Additional ‘Soft outcomes’

More detailed personal information is recorded for households in receipt of active debt/money advice (n.169):

OUTCOMES Numbers Comments
Households with
employability solvency
improvements		 44% Unemployed clients supported to improve financial
stability with oncome & expenditure reviews and debt
managementplans
Households in work with
improved budget outcomes		 23% Households in employment have improved income,
and expenditure reduction and debt support to ease
their financial circumstances
Households seeing health
stress improvements		 20% Households with sick, disabled or retired people were
supported through financial difficulties to ease health
stresses
Households subject to
enforcement activities		 24 Households supported to avert seizure of goods by
bailiffs
Households in crisis 21 Households at risk of homelessness under notice or
threat of eviction, and/or severe mental health
stress/suicide risk,or victims of domestic violence
Mental health
improvements		 12 Clients reporting that their mental health had
improved since being supported (stress reduction, less
anxious/depressed)inc. suicide risk/ideation averted
Social inclusion
improvements		 16 Clients reporting improved social contacts, more
active in the community,new friendships etc
Relationship improvements 23 Clients reporting improved family dynamics, reduced
familytensions
Practical/emergency
supportprovided		 72 Individuals/households receiving support with
essential supplies – food,fuel vouchers,clothing

Delivery Outreach

Organisational achievements

Page 5 of 15

Charity registration number: 1156191 Authorised & regulated by the Financial Conduct Authority: Reference number: 618789

Annual Report, Review & Accounts for Life Centre Stourbridge

Client/referral agency feedback:

Challenges

Going forward, LCDA faces a number of challenges to sustain our growth in capacity:

Opportunities

Charity registration number: 1156191 Page 6 of 15

Authorised & regulated by the Financial Conduct Authority: Reference number: 618789

Annual Report, Review & Accounts for Life Centre Stourbridge

Summary from the Chair

The focus for our service has always been ‘how can we effectively help those who come to us in need of advice and support’.

It is so encouraging to receive feedback from clients expressing their experiences of a service that has given them: -

This has been achieved through an excellent, committed and hard-working team of volunteers, staff, supporters and trustees. I take this opportunity to thank everyone involved with LCDA for all that they do and particularly those things that go un-noticed, but are just as vital to the effective running and provision of our service, whether it be practical, prayerful or through financial support.

My hope and prayer is that we can continue to fund, equip and sustain our service to be here for many years to come, meeting the needs of those who decide to make that first big step to ask for our help.

If, having read this report you feel you would love to be part of this work, please do not hesitate to contact one of the team, we would welcome the opportunity to speak to you.

Alan Taylor

Chair

Financial Review

LCDA is in a financially strong position. The reasons are:

  1. We received grants totalling £39,858 from the Cost Of Living Fund which we had to spend by 31[st] March 24

  2. We received a grant from the Dudley Building Society of £5,000 late in March which we have yet to spend

During the next financial year, we anticipate these changes to our expenditure:

  1. An upgrade to our IT infrastructure – approx. £5,000

  2. We recruit another staff member for 16 hours/week – approx. £10,000

  3. A reduction in employment costs as Martin Frize reduces his hours from 32/week to 8/week from w/c June 17[th] onwards – approx. £10,000

Page 7 of 15

Charity registration number: 1156191 Authorised & regulated by the Financial Conduct Authority: Reference number: 618789

Annual Report, Review & Accounts for Life Centre Stourbridge Statement of Receipts and Payments Accounts – all funds

This statement is for the period 1[st] April 2023 to 31[st] March 2024 for all funds. The comparative figures for 2022/23 are for the 15 months from 1[st] January 2022 to 31[st] March 2023.

Annual Report, Review & Accounts for Life Centre Stourbridge
Statement of Receipts and Payments Accounts – all funds
This statement is for the period 1stApril 2023 to 31stMarch 2024 for all funds. The
comparative figures for 2022/23 are for the 15 months from 1stJanuary 2022 to 31stMarch 2023.		 Annual Report, Review & Accounts for Life Centre Stourbridge
Statement of Receipts and Payments Accounts – all funds
This statement is for the period 1stApril 2023 to 31stMarch 2024 for all funds. The
comparative figures for 2022/23 are for the 15 months from 1stJanuary 2022 to 31stMarch 2023.
Brought Forward 2022/23
2023/24
£33,741.12
£55,190.23
Receipts
Churches
Gift Aid
Individuals
Trusts / Foundations
Other Grants
Other Income
Satellite Income
Total Income		 £6,877.00
£6,169.58
£1,652.75
£1,477.46
£15,550.51
£7,914.05
£28,015.00
£46,828.00
£90.00
£5,150.00
£451.83
£1,244.26
£4,868.18
£5,311.52
£57,505.27
£74,094.87
Payments
Direct Employee Expenses
Fees
Indirect Employee/Volunteer Expenses
Marketing
Other Expenses
Premises Costs
Payments for assets
Total Expenditure		 -£28,153.28
-£50,583.45
-£2,099.00
-£4,498.83
-£2,515.67
-£2,550.30
£0.00
-£253.00
-£544.23
-£736.84
-£2,743.98
-£2,803.41
£0.00
-£1,167.01
-£36,056.16
-£62,592.84
Carried Forward £55,190.23
£66,692.26

Page 8 of 15

Charity registration number: 1156191 Authorised & regulated by the Financial Conduct Authority: Reference number: 618789

Annual Report, Review & Accounts for Life Centre Stourbridge

Statement of Receipts and Payments Accounts – by fund

This statement is for the period 1[st] April 2023 to 31[st] March 2024.

Statement of Receipts and Payments Accounts – by fund
This statement is for the period 1stApril 2023 to 31stMarch 2024.		 Statement of Receipts and Payments Accounts – by fund
This statement is for the period 1stApril 2023 to 31stMarch 2024.
Brought Forward
£44,017.33
£1,897.90
£9,275.00
£0.00
Funds
LCDA
HTOH
LAFA
COL		 £55,190.23
Totals
Receipts
Churches
£6,169.58
Gift Aid
£1,477.46
Individuals
£7,914.05
Trusts / Foundations
£20,046.37
£26,781.63
Other Grants
£5,150.00
Other Income
£1,244.26
Satellite Income
£5,311.52
Total Income
£42,001.72
£5,311.52
£0.00
£26,781.63		 £6,169.58
£1,477.46
£7,914.05
£46,828.00
£5,150.00
£1,244.26
£5,311.52
£74,094.87
Payments
Direct Employee Expenses
-£15,494.20
-£6,028.80
-£7,568.50
-£21,491.95
Fees
-£2,474.83
-£350.00
-£1,674.00
Indirect Employee/Volunteer
Expenses
-£770.96
-£240.31
-£226.26
-£1,312.77
Marketing
-£253.00
Other Expenses
-£736.84
Premises Costs
-£753.02
-£2,050.39
Payments for assets
-£1,167.01
Journals
-£37.25
£0.00
£36.77
£0.48
Prior year adjustments
£626.19
-£626.19
Total Expenditure
-£19,640.91
-£6,895.30
-£9,275.00
-£26,781.63		 -£50,583.45
-£4,498.83
-£2,550.30
-£253.00
-£736.84
-£2,803.41
-£1,167.01
£0.00
£0.00
-£62,592.84
Carried Forward
£66,378.14
£314.12
£0.00
£0.00		 £66,692.26

Fund Key

LCDA Life Centre Debt Advice General Fund HTOH Holy Trinity, Old Hill – a satellite centre Designated fund LAFA Lottery Awards for All Restricted fund COL Cost of Living Restricted fund

Notes

  1. Journals: Transfer of the expenditure above grant amount to LCDA General Fund

  2. Prior year adjustment: Reallocation of expenditure in prior year to appropriate fund account as per agreement

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Charity registration number: 1156191 Authorised & regulated by the Financial Conduct Authority: Reference number: 618789

Annual Report, Review & Accounts for Life Centre Stourbridge

Receipts

This chart shows the breakdown of our income streams: -

----- Start of picture text -----
Receipts in 2023/24
Churches
2% [7%] 8%
2% Gift Aid
7%
11%
Individuals
Trusts /
Foundations
Other Grants
63% Other Income
Satellite Income
----- End of picture text -----

Our major source of income is from Trusts. The regular support from individuals has slightly reduced whereas the support from churches has increased slightly.

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Charity registration number: 1156191 Authorised & regulated by the Financial Conduct Authority: Reference number: 618789

Annual Report, Review & Accounts for Life Centre Stourbridge

Payments

In 2023/24 our employment costs rose significantly because we employed two more staff members for 10 hours/week each & then increased the staff hours later in the year to deliver the outcomes that the Cost of Living fund enabled.

The breakdown for this year: -

Payments in 2023/24

----- Start of picture text -----
Direct Employee
Expenses
-3% [-2%]
-4% Fees
0%
-1%
-7% Indirect
Employee/Volunteer
Expenses
Marketing
Other Expenses
Premises Costs
-81%
Payments for assets
----- End of picture text -----

Reserves

Our minimum running costs for a quarter are approximately £18,000 & this is considerably less than our current balance.

Independent Examination

The accounts have been examined independently.

Governance

The Trustees and Centre Manager work together to govern the operation of the charity to the relevant standards. The Manager is primarily responsible for the quality of the Debt Advice and our compliance with the regulations and requirements of the two bodies that accredit our work, the Financial Conduct Authority and the Community Money Advice (CMA) organisation. The quality of the debt advice is externally audited annually by the CMA organisation.

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Charity registration number: 1156191 Authorised & regulated by the Financial Conduct Authority: Reference number: 618789

Annual Report, Review & Accounts for Life Centre Stourbridge In 2023/24 the Management Team (Trustees and Centre Manager) met 10 times and the Trustees once to guide the work agree new approaches, approve new volunteers and any other relevant leadership decisions.

Trustees are appointed or confirmed at Trustee Meetings and may serve for a maximum of 3 years before formal re-election if appropriate, and it is recommended that they serve no more than 7 years.

The charity has an informal accountability to the Churches Together in Stourbridge (CTiS) network.

Trustees

Name Primary role End of term Alan Taylor Chair 28/06/24 Julia Savage Trustee 22/06/25 David Watts Trustee 28/06/23 Retired Malcolm Moss Scribe & Treasurer 30/03/25 Nicola Martin Fund Raising 02/02/25 Christopher Heslop Trustee (from 24/01/24) 23/01/27

Charity Details

Charity number 115691 Charity status Charitable Incorporated Organisation (CIO) Registered 13[th] March 2014. Registered Office The Upper Room, Bellmark House 18a Market Street Stourbridge, West Midlands DY8 1AD Telephone 01384 739757 Email info@lifecentredebtadvice.org.uk Chair Alan.Taylor@lifecentredebtadvice.org.uk Independent Examiner Alastair Greeves Bankers Unity Trust Bank plc Nine Brindley Place Birmingham B1 2HB

Charity objectives

The objects of the charity as set out in the constitution are: -

  1. To relieve poverty by providing ethical debt and money management advice, free of charge.

  2. To promote social inclusion for the public benefit by preventing people from becoming socially excluded, relieving the needs of those people who are socially excluded (for the purpose of this clause ‘socially excluded’ means being excluded from society, or parts of society, as a result of financial hardship) and assisting them to integrate into society in particular but not exclusively by; -

    • a. providing advocacy services for people who are unable to advocate for themselves because of fear or lack of knowledge or lack of confidence

    • b. providing training and guidance to develop people’s financial capability

    • c. helping those who have been isolated from, or who are out of touch with, society to re-adjust and re-integrate by befriending them and re-building their confidence in

  3. Charity registration number: 1156191 Page 12 of 15

Authorised & regulated by the Financial Conduct Authority: Reference number: 618789

Annual Report, Review & Accounts for Life Centre Stourbridge their local community.

  1. The advancement of the Christian faith by evangelistic mission that is carried out on an entirely non-coercive and invitational basis, and in accordance with the Faithworks charter given as Appendix 1 of the constitution.

These objects are carried out currently by the provision of the Life Centre Debt Advice work by employing a Debt Advice Manager and training volunteer Debt Advisors and Support Workers who give debt advice and work with clients to achieve debt-free status.

As followers of Jesus, we believe that prayer is the foundation of this work.

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Charity registration number: 1156191 Authorised & regulated by the Financial Conduct Authority: Reference number: 618789

Annual Report, Review & Accounts for Life Centre Stourbridge

Independent Examiner’s Report

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Charity registration number: 1156191 Authorised & regulated by the Financial Conduct Authority: Reference number: 618789

Annual Report, Review & Accounts for Life Centre Stourbridge

Appendix 1 – The Faithworks Charter

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Charity registration number: 1156191 Authorised & regulated by the Financial Conduct Authority: Reference number: 618789