2023-12-31-accounts

TW MONEY ADVICE SERVICE islered Charit Niimber: 11628?8 REPORT AND UNAUDITED AC'COUNTS Yeai. ei)d<d 31 December 2023

TW MONLY ADVICE SERVICE RLPOR'f AND UNAUDITED ACCOUNTS- 31 DeLember 2023 Coiilents Repori ot'ihL trustees Independent exaniiners report Receipts and payments account Statement ol-a55els aiid liabililies Notes t() the accounts 9-10

Pa()e l. 'I'W MONEY ADVIC E SF.RVIC F. REPORT or'i-l IL'I'RUS'I-LES -Fhe crusiees pi'eseni Iheir report to&Jether with the accoiinis ol. TW Money Advice Service (TWMAS) for the year ended 31 December 2023. Name &iiid re Ji5tration 'I'WMAS is a regisiered Ll)arity. reoistration nuniber 1162828. Cjovernii) J document TWMAS is (i charitable incorpor<1t¢d organisation. goveriied by a written consiituiioii. 'rrustees I'he ti'iistees ol'ihe chai'it). are ihe men)bL'fs (If the board. Trustees arc elected to the boai'd annually and serve lor a iemi ol- lour yL'ars. 'frustees Inaj serve no IMorL than Iliree consecutive tenns. Tlie lollowing trustees have served during Ihe year and were still serving at year end:_ Martin R DutTry Mdruarel F. Gatland .leaii Mi)orhouse Paul DLanL-Williams WLI-YI ChL'n AIiL¥ Siiiiun (appointed 19 Sepleimber 2023) Recruitnieiit iiiductioii and irdinin ol-new trustees NLW Iruslees are appointed to the organisalion by exisliiig trustees al a prop¢rl>' convened meetiiig ot. the Iruslee5. Ne￿.[Y appointed irustee5 are giien iiiforniation and advice concerning the liisiory and activities of the charity. IrustLL I'espi)118ibililies and relevdlli Lliiirit)w re<7iilalions. Tliey are also giien a cop) of thL latest report and aLLuunts in order to gFive them ai) uiidLI'st411idingF ol. the charity's linaneial posilion. Conlinlied.

TW MONEY ADVIC'L SE.Rvicr REPORT OF TFIE TRUS"fEES Conliiiued l olliLe Thu charity's registered address is.. 30 Crowii Road Tw iLkei)hdm TWI 3EE Profcssioiial adi.'isors Bankers- HSBC 54 C larcncc Street King7St()n Upon Thanies Suire}' KTI INS TrLISILLs' res onsibilities in rcs ect ol'the aration ol'the accounts C"11<11'1t!' law rLqLiifL"S the ti'iislees ol'thc orgaiiisaiioii tu prepai'e a receipls and paymcnt5 aLc(iuni and a s(aiemLnt ol. as%cis dnd liabilities lor each tinancial j'ear. Iii dddilion the (rustees are respoiisible toi. keLpinu proper accouiiliiig rLcords ￿llhiCh arc siifficieiil lo show and explain the charit> s traiisactioi)s and io di%LI(i%c with reasonable accuracy at any iinie the tinancial position of the oi'gaiiisation. ThL}' are also respoi)siblL for saligu<l1-dinL) the assets ol- the charity and henLe tor takiiiuj rea5011&ible steps for the prevention und detection ot. ti'aiid aiid othei. iri'eg?ularilies. C)b'eci.s The obj¢cls lor which Ihe eh(Irily' is established are (i) for Ilie rclicf ot those in need bv reason of agye. il I hec21111, diqabilii!. linanciL21 liardship or other disadkai)iagJe- lil) to I'urther such utlicr exclusivels. charilablL purpo4es .1LLording 10 the law ot England aiid Wales as il)e irustccs in Ilieir absoliile discreiion from tiine to limc delennine. Continued......

Paht Adi'i¢c and are coi'ered by Crossligihi AdviLe s FCA iiiiiliorisatioii. l-WMAS also prowidLS %UPPOrt lor I2dvisors aiid oi'ganiscs L"rossliglil-run monej. advi¢c courses lor L lieiil% and other niembLrs of the publiL. Al thc end ol. ?0?3 TWMA% emplo!.Ld t￿,0 pail-liinL Slaty and supported 19 acti￿¢ i'olLIIIILL'rs. The Lharilv i VLI'V gi'atelul io its voluniecrs who dediLdtcd nian) IIuLtrs ol-thLir ow'n lime LO n)LUting wilh cliciits and maiia¥ing' ca%es dLlI'ing ihe year. The Inisiccs held tive nieetingJs during 2023 (tour regular quarterly meetings and oiie slraleg>' Ineetingl. Rtview ol. aciivili¢s of Crossli hi Twickenham diiriii the ear elided 31 Decei)Iber 2023 We supported 238 people directly., and held 294 appointnienls dui'ing ihe vear. achieving debt reductions of £??0.988 and income &?ain5 01-£36,065. in ihL Inrm of grants and benelits awarded. tor cliei)ts. Iii man), oiher in%l<1nces we wLre able to stop interest and other charge5 011 debts and to negotiate atfordable debi repavn)Lnt plaiis. CI iLI)1s u.qU&111}' he<ll' about us Irom ivord ol. Imouth. or relerred Io LIS by Ii)Lc11 ag)encies Such as Ilie IoLal authority. IoLdl churches. RUILS. Heslid. AchieviiigJ fnr Childreii. Citizei) s Adk'iLC Bureau, housin Is%()ciatioii% and pariner charitlcs. Oiir clieiils spai) a widL' %pecli'iini ()l-dgL.. lan)i l J. pi'ofilL"s and ethnii backgirouiids aiid the vdsl niajority arL' in recLiPI of henetits and live iii I'enlcd ac¢omniodatioii. l)ver 70 % ot. our clients liad their maiii issue resolvgd w'liei) theN came to seL us aiid <lPPI-oximaiely 80 /0 reporled an iniproveiii<iit iii Iheii. sitLl<ltion and lilt Inore iii conti-ol ol-lheii. t"utiire. Vei'fv lem, clients arc iii tLIII-iiine eniplovnieiit or l)ave aiiy qudlil ILatioiis. Man)1 are iii)cmployed. with a nun)ber haviiigj disabililics or health oiiditions Ih<lt inliibii Ihcir abiliiy to work. The detrimental impact of the Covid lock-down period.% 1.4 slill very Inuch evident. People lost their iiicoines and livelilioods and have not yet been able to (Jet baLk to a quality ot- lite Ihev oiiLL eiijayed. Thc cost of liviiig crisis L(Intinues lo have a hugje iinpact on uur cl ienis <ind niaiiy iiow face a si(uation ol. otlen havino lo choose belli'eei) pa) jiiij lor food or eiicrg). as Ihej. arc iiot always able to allord both. l-he vasi majnrity ol-OLir client appointmenis dl'e iii-person. Most Inonths we held 20 appoiiitnieiils at St Sieplieii s chLir¢h, East '[ wickenham, 2 at All Saints chLir¢h, Hampion and 4 at Hope Church, Flounslow. We als() hLld 3 monei education courses in Twickenhani aiid Hampion. These COLirses are designed to equip OLII. clienis and oilieis ￿.1(1] Ini)ney man<ioement and budLyetin&Tr skills to help them avoid talling inio debt. CoiilinLled.

Pab)e 4. TW MONLY AI)VICE SERVICE REPORT OF TI IE I'RUS'I"L.ES Continiied Re¥'iew of-aeti￿'It]eS durin the 'ear elided 31 December 20?3 Continued WL exist lo help people lit'i theniselves out of pove11y aiid io help tlicin to biiild a better t'uture lor themselves. Oiir vision is centred on the whole pei'son, nic¢ting people at their point ol. need and walkiiio ith theiii Linlil ihe}' gFCt back on tlieir teet. l-his holistic approach aims to lullj. support ihosL strug'g)ling the mosl aiid (c) equip iheni to laLL the t'ulure wilh confidcncc. ResLIItS diid I IiianLldl osition The receipls ai)d payinenls account tor the vear ended 31 December 2023 is sel out oli paue 7. 1.he charit)," s bank balaiice totalled £51,136 at tlie )'e<l1' end (2022.. £54.297)- We ai'c very grateful io all doiiors who have supported our work dliriiio the year. We are particularly ni'aleliil lo Si Siephcn's Church ickenhaii). Hdinpton Fund, Ricliinond Parish L<111d% Charit}, and ihe RoiaiTr, C lub lor (h¢ir gciierous suppoil. We w'ould als01 ike lo thank London Borough uf Hoiinslow for 4upp()rtjii¢i oui. woi'k in Huunsluw, {via a service ILVLI agreement between 14ounslow Borough aiid L'rossliglil AdvicLI. "rhe trustees haie desiginaled £3.000 of the £6,000 urant trom Si Stephen s Cht]rch towards the costs of providiiii) debi and benelil adviLL in Hounslow attei- March 2024. M,hen the funding troni Loiidoii Borough ot- Hounslow iii 2022 will have beLn fully expended. Tlic trustees are of ihe opinion that ihe overall state of aftairs ol- the organisatioii at 31 DeLeinber 2023 is satisfa¢tori' and that the organisation has Sutficient reserves ti) meei ils lului'e obligdlion5. Ileserves ulic TIIL. Iruslees aiin 10 Inaiiilaiii averagye t-ree reserwes (11- 6 10 9 Inonilis planned expendilui'e lo cover any tLmporai')J shi)nfal15 in iiicoimiii£l I'es()urLes and enablL the Lhkrily lo coiitinuc its ￿'ork wliilst specilic plaiis lo balanLe iiicome aiid expcndilure are implcmLnted. Ai J"L'ar end. undes i g?naled Ircc re.serves wei'e £42.7841?0??: £.39.425). eqiiating lo jiist uiidei- 12 nioiiths ol. total 2024 budgeted ekpenditurc. 'I'his was higyher than budgFeled. Idruel! as a result of unexpectedly being one s£afl- mciiiber dowii lor ihe lirst part ol. thL year. Accoi'dingly. the Iruslees hai'c approved a small delicit budget for 2024, arisingi from a planned rLdLlCtioii in grani iiieoine troin detei'rii)g7 some gsrant applications. in order to uraduallj bring reserves dowii iiito the tariyei rangc. Public bei)elil In preparing this repoit the trustees have given due regyai'd th¢ Charity Conimissioii's general gliidance on piiblic benetit. Conlinucd.

Page 5. TW MONF,Y ADVICE SERVICL REPORT OF THE TRUSTEES Continued Related PartN" Disclosiires Jean MoorlioLlSC also scri'ts as a trustee ol'Cr0551ig?hi AdviLe. Marlin Dul'lv ib also a iru5l¢¥ uf I lainploii F und. H.hiLh providcd a grdni io TWMAS diiring) the y'ear. D()natioiis io the charity from trustees lotalled £1.260 in 20231£4.260 in 2022). Ni) tl'UStee received any reinuneration or expenses Ironi the chariiy dui'ing ihe yeai.. Approved by (he Irustees on 13 Augyust ?024. Margjd Ciailand Trustee Lhai erson

Page 6. TW MONEY ADVICF. SF.RVICE INDEPENDLNT EXAMINLRS REPORT 'I'O'I'HE TRUST'ELS ()F TW M()NEY ADVICE. SF.RVICE I report to ihL cliarity trustees on my examination ot the aboi'e charity ("The Trust") accounts for the year elided .31 DLccnibcr ?11?3 whicli arc set oiit on pagics 7 10 10. Re5 oiisibil ities aiid basis ot-re A5 the cliai-ity's trustees, you are responsible for the pi'cparalion ol'ihe accoui)Is iii accordance with the requiremenis of the Charities Act 2011 ("Ihe Act"). I repoil in respect ol. my exainiiialioii of the Trust's account5 carried out iiiider seciion 145 01. Ihe 201 I ALI and in Larrj'ing oui mv examinaiion. I have lollowed all the applicable Directions given by Ihe Churity Commission under seclioii 14i15}(b) of tlie Act. Inde endenl e.Xdniiiier's statement I have coinpleted mv examination. l Lonfimi rhat no material matters have coine to my aiiention 121 conn¢ction with the cxamiiiaiic)ii giviiiv niL cause io believe that in. an) malerial respcct.. the accounlingi rcL()rds were not kept in ac¢ordaiicL Wlth seclioii 130 01. the Charities Act. or the accounts did nut accord witli Ilie aLcoiinliiig rLeords: or (he dc¢ounts did iiol comply ii'iih th¢ appliLatile requirL'inents concerninq the lomi and Lonlent ol. accounts sel out in the Q harilies IALLoiiiils and Reports) RegJulalioiis 2008 other than anv requii'emeni tl)at tlie aLeoiints c a 'lruc and t.air i.ieiv ivhich is not a Inallcr considered as part of an indepei)dei)l exainination. I hL1ve no Luncerns and have coinc across no n)atlci-.4 iii LoniieLtion with ihL' e¥aminarion to wliich aiiLiili()ii shc)Lild he drIl￿'n in Ihis rcport iii order io Lli<lble a prupi'r undersidndiiio ot the accoiints lo be reached. SigJi)ed as the independent examiner on 13 A 2024 b Chrisiopher Brec Chartered Accouiilant

W MOl%EI' IIDVICL SERVIC.E 7. RECEIPT AND P.4YMENTS .4CCOLINT FOR THE YEAR ENDED.11 DEC'LMBER 102.1 20?2 Unrestricted Restricltd lunds Toial funds Note funds Receipts Donalioiis and grants 18.756 15.-f00 34.2iC) 6?.204 Total receipts 18.756 62.204 Payineiit5 Dircci cl)arilable expeJidilur¢ CharitablL aiiivilies.. Supp()rtinbT conlribiiiion Ic) tlie rhariiy C'rossli&phi AdviLL 6.000 -$00 8,500 Stal'f ¢ost5 4.49? 27.992 28,?38 Otlier direct COSIS 1.905 167 Total paJ'i)ieiitS 12.1£4 26.167 i9.119 Nel receipts for the vcar Total lllndy broubihi form'ard 6,i59 42,425 110.6671 16,020 14.-7081 58.445 35.)60 Total liii)ds cairied forward 48.784 54.127 Appi'oved by the tTUSiees on 13 Augiist 2024 and signed oli their behalf by.. MargJdr¢t TrLisle¢ ¢l)air atland rson

Pagie 8. TW MONEY ADVICE SFRVICE STATEMENT OF ASSETS AND LIABILI'fiES AS AT 31 DECEMEIF.R 2023 Note 2022 Assets .1 <111&)ible Iixed assets Ca41i at baiik Cash held by accoLiiiiaiiis Tax reclaini Cjift aid 943 51.136 165 1.893 875 54.297 510 2.763 54.137 58,445 Statement of funds Unreslricted fund5 CJeneral t-und 42.784 DesibJnated fund 3.000 48.784 42.4?5 Restricted fund5 luuiislc)w ILlI)d Courses liind 4.819 i34 li.819 ?01 Tolal of funds 8.445 Approved by the trustees on 13 ALigust 2024 and signed oli their b¢halt-bJ': el E Gatland Trustee chai erson

PagTe 9. .1 111 M()NI.. Y AI)VIC'.I.' 41-:IIVIC'L Nl) I'L-I-()'I-FIF. A .01 IN'I" I.'I)R THF. I'I.. olic The accoiints liave been prepared on tlie receipts and pdymeiits basis. The accounts coinply witli tlie organisaiion s b?overniii¥ dociiinent. UK Geiieral ly A¢cepled Practice and the Chgl'ities Act 201 l ing()faT as the). apply lo thc chai'itv and its TTUStees' aiinLial report and accouiiis. The iangiiblc fixed assets ar¢ recorded at cosi less acclimulaied deprecialioii and any accun)ulated impaii'ment105ses. At eacli reportiiig, date the charitj a55esses wheiher tlier¢ is ai)v iiidication or iiiipairment. I f bLILlI indiLation e.xists. the I'eLovei'able ami)unt ()f tlic asset is deiennined wliicli is the higTliei' ol'its fair valiie le8$ costs to sell and its valLie in use. An iinpainneiii loss is rLcc)¥nised li here the carrying dmoLint exceeds ihL' recoverable ic moiint. DepreLiatioii is cliai'¥)ed so as io allocate tlie cost of8SSLts less tl)¢ir residual valiie over their estimaied usefLII lives on an annual 2.50/0 redu¢iiigF balance basis. The trusi¢e5 coiilirm, in a¢cordaiice with The Chariiable Iiieorpoi'ated Oiganisatioiis IGeneral) Regjulations 2012. tliat at rlie vear tjid I'WMAS did i)ol liave aiiy outStaiidii)i? giuarai)ILeS to tliii'd parties nor anv debis %Lcuied oli assets of tlie organisation. T'lie charity'.5 ti'ustees are rcspoi)sible IOT tlie pi'eparation of the accoiinis. Tlie chariry s trustees consider Il)at an audii is noi required for tlii5 period Liiider SeLliDn 144 of tlie Chai'itiLs ACL 2011 2 Donations and UnresirTcied Haniploii l.und Richinoiid PaT1511 Lands Charity Roiars Club Si Steplien's PCC Other duiiatioiis i 0.000 10,000 00 -500 6,000 (1.000 10.86_3 10.86.• Gift aid 15.5DO 34,?56 Taiiuible fixed assets- con) ulers/offi mcnt C cJ.s1- As at l Jan and 31 Dec ?OL .556 ( Iiii'ic4llvii¥¢ir(/- as at l Jan ?013 1,9i9 Brouiyhi t()rward as ai l Jatj •0?" t)¢ for the }'ear ( ui'ric'<l/cJiii'iird til 31 IJL'L 2Q?3 681 996 .4.$ 31 Ik,c'6'inbL)1. ?023 943 ,l.v cil 31 1)e(embc•r 2n?? 875

P¢lgJ¢ l O rw Ml)Nl.'Y 41)VIC'I.' %I.'RVIL E l.'()R I-I11.' I'I.AR I-'NT)I.'D 31 DF. ."MBLR 2(121 4 Siaieiiieiit of fuiids Re%trieiid 1£) Courses Hounslow Gene l Hoiinslow- Total Desi inated Siaft. Total Balaiice ai l J11 11 ?0?" j9.424 201 16,020 15.756 i.000 18,756 15,000 15.500 E.Ipendilur¢ 112.i971 11$ 0001 ?6,1671 138.5641 BalanLe at.31 DeL *O?.3 42.784 6.oao 5.34 Tl)t Ristricled Flouilslo￿. fiind arose froin a grai)I froin Ci'ossligjhi Advice for proi.idiiig debt and bLnel It iidvicc iii Hoiinsloiv froin Fcbruary ?022 to Mclrch ?024. '1-he purpoqe of the fund is to cover th¢ iosls ol. pri)vidiii¥i rhi% advice. The tialaiice remainiiii> ai J l December 2073 was £4,819. Ali uniestriLled HoLiiisIL)w fund was algo ¢stablislied in 1022 lollowiiigTr il)e trustees, agjreeineiii io desigTiiate txil-liun of gieiieTal fiind iliCL)IIIL ti) fliiid coiitiniic11ioii M-ork in HI¥Linslow after MarLh ?024. w.hen the Crus51iLilit Advice LTraiit beei) lullv expendLd. ThL pufposL of ihe ILind is to Lover soiiie of the costs ol'providinbi debt ai)d benelil adviLe in Flounsloi¥ ¢ltler M£11'Lh ?024. 11)e Purpose of lh¢ Staff Costs tund is to Lover salari¢s and otl)er staff costs. Tlie purrK)se of the Q oiirs¢s fund is (o covei. the cost of courses rLllI for clienis. S Related art transaLti In the vcar triistees doiiated £1.260 to the charity 1£4,260 in 2022}. There w'ere no other tr1t nsactioiis IvÉth the triisl¢es.