2021-04-05-accounts

Trustees' Annual Report for the period

Period start date From 01 04 2020 To

Period end date

31 03 2021

Section A Reference and administration details

Charity name Sidcup Debt Advice

Other names charity is known by Registered charity number (if any) 1169856 Charity's principal address 24 Station Road Sidcup Kent Postcode DA15 7DU

Names of the charity trustees who manage the charity

1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20	Trustee name	Office (if any)	Dates acted if not for whole **year **	Name of person (or body) entitled to appoint trustee (ifany)
	Mr Charles Edward January	Treasurer/Secretary
	Mr Michael John Conway	Chair
	Mrs Jeanette Smith		01/04/2020 – 16/10/2020
	Mr Michael Pinard		Appointed 02/08/2020

Names of the trustees for the charity, if any, (for example, any custodian trustees)

Name Dates acted if not for whole year

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Names and addresses of advisers (Optional information)

Type of adviser Name Address

Name of chief executive or names of senior staff members (Optional information)

Section B Structure, governance and management

Description of the charity’s trusts

Type of governing document

Constitution

• (eg. trust deed, constitution)

Charitable Incorporated Organisation How the charity is constituted

• (eg. trust, association, company)

Trustee selection methods

Appointed by existing Trustees

• (eg. appointed by, elected by)

Additional governance issues (Optional information)

You may choose to include additional information, where relevant, about:

• policies and procedures adopted for the induction and training of trustees;

The charity is affiliated to the national money advice charity Community Money Advice.

Jeanette Smith resigned as a Trustee. The remaining Trustees actively sought a replacement and one was secured post year-end.

• the charity’s organisational structure and any wider network with which the charity works;

• relationship with any related parties;

• trustees’ consideration of major risks and the system and procedures to manage them.

Section C Objectives and activities

Summary of the objects of the charity set out in its governing document

The relief of financial hardship through the provision of support and access to free financial advice and assistance to people with debt-related problems living in the Sidcup, LB of Bexley and Kent area and beyond who, through lack of means, would otherwise be unable to obtain support and advice

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Throughout the year Sidcup Debt Advice (SDA) continued to undertake the active business of the provision of free debt advice. All such activities are undertaken with regard to the guidance issued by the Charity Commission on public benefit. Training continued with all advisors now having completed CMA Stage 3 with one being trained in insolvency to supply specialised advice in this area. In addition, all Advisers were encouraged to undertake CPD with Wiseradviser. This was to ensure the service that was provided was of as high a quality as possible and to the benefit of the public, as per both the requirements of the FCA and the guidance issued by the Charity Commission. Last period we reported that following the departure of our part-time admin person that The Charities Commission agreed to SDA employing the spouse of one of the Charity’s Trustees. He started on 4[th] March 2020. The Trustee in question resigned in October 2020 but the spouse has continued to work for the charity as our Administrator. Summary of the main SDA started the year with eight (five 2019/20) clients, we took on a activities undertaken for the further seven (six 2019/20) new clients during the year, two of whom public benefit in relation to were opened and closed in the period and four were signed off/ended these objects (include within leaving a net at the period end of nine (eight 2019/20). However, a this section the statutory simple increase of one client does not truly reflect our activities. declaration that trustees have Similarly, the number of clients does not necessarily mirror how busy we had regard to the guidance have been. One client having complicated debts can absorb more issued by the Charity working hours than several ‘straightforward’ clients put together. Commission on public benefit) In common with every organisation, the Coronavirus pandemic changed our working practices. Face-to-face meetings were replaced with Zoom video calls and office working was reduced to home working. All records were moved to on-line as access to paper files was replaced with pdfs. Consequently, as people grappled with the pandemic, the number of total hours spent in client appointments fell to a low of 20 (61 2019/20). However, over 1,025 (908 2019/20) emails were exchanged over client debts, with some emails having up to seven emails behind them. It is not possible, unfortunately, to help everyone who contacts us. During the year we received 30 calls from people seeking assistance for the first time. Some people who get in touch do not follow through with the offer of free debt advice, some have more debts than our resources can manage and some are referred to other agencies, e.g. Stepchange, as their mode of operation is more beneficial to them. Some start the process, i.e. contact us and are booked for a consultation, but never follow through. Work relating to these activities is difficult to quantify and therefore are not included in the above.

Additional details of objectives and activities (Optional information)

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All Debt Advisers undertake the work on a voluntary basis. They freely and willingly give up their time and energy to undertake training and provide debt advice.

The admin work is undertaken by one funded person plus one volunteer. In addition, both are voluntary Debt Advisers.

You may choose to include further statements, where relevant, about:

SDA does not make grant.

• policy on grantmaking;

• policy programme related investment;

• contribution made by volunteers.

Section D Achievements and performance

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Section D Achievements and performance

• Client numbers continued to increase.

• Summary of the main • This is reflected in the increase in the hours spent with clients - 61

• achievements of the charity hours were spent on appointments with clients.

• during the year • Policy documents were updated, publicity material devised and strategies considered as to the capacity of the charity and how best to manage the promotion of the services on offer.

• • We were successful with two grant applications to help fund staff, IT, etc.

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Section E Financial review

Brief statement of the charity’s policy on reserves

The charity currently policy on reserves is to ensure there are sufficient funds to meet the essential costs for the following year.

Details of any funds materially No funds were in deficit in deficit

Further financial review details (Optional information)

You may choose to include additional information, where relevant about:

• the charity’s principal sources of funds (including any fundraising);

• how expenditure has supported the key objectives of the charity;

All funds were provided by churches in Sidcup, Kent and were free of any restriction.

A grant from a local charity, the Harenc Community Trust, helped to continue to fund the admin assistant.

• A grant was obtained from the National Lottery to help fund part-time staff.

A grant was obtained from the Covid-19 Recovery Fund to help cover the cost of remote working, training, laptops & software.

These funds & grants were sufficient to pay for necessary expenditure including the funding of an admin assistant.

• investment policy and objectives including any ethical investment policy adopted.

Section F Other optional information

The charity is hoping to attract further funding via donations and or grants to enable it to continue to finance an administrator. The engagement of an administrator has increased the capacity of the charity by freeingup the time of the volunteer advisors. The continuation of this position is seen as very beneficial to the charity going forward.

Section G Declaration

The trustees declare that they have approved the trustees’ report above.

Signed on behalf of the charity’s trustees

Signature(s) Full name(s) Position (e.g. Secretary, Chair, etc) Date
	air, tc)	Charles Edward January
		Secretary

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Date: 3010412021 Time: 09:57:39 Sidcu Debt Advice Profrt and Loss Page; From: To: Month 12, March 2021 Month 12, Marth 2021 Chart (rf Accounts: Default Layout of Accounts Year to Date Sales Donations Gftnts 16,450.00 16,455.CKI Purchases Cost of Charitable Activityes 570.00 570.00 Direct Expenses Gross Prrfitl(Loss): Overheads 15,885.(y) Support Costs - Telephone and Computer Support Costs - General Experses Management & Admin - Gross Wages Management & Admin - Professional F 607.81 1,838.70 2,268.75 214.94 240.00 240.00 4,930.20 Net ProfitllLoss): (240.(KI) 10,954.80

Date: 3010412021 Time: 09:57:58 Sidcu Debt Advi Balance Sheet Page: Frnm: To: Month 12, March 2021 Month 12, March 2021 Chart of Accounts: Default Layoui of Acc(xJnts Year to Date Fixed Assets 0.00 Current Assets Bank Account 15,017.35 15.017.35 Current Liabilities Creditors . Short Tem Bank Account (120.00) 240.(M) 0,00 Current Assets less Current Liabilities: (240.00) (240.W) 15,017.35 15,017.35 Total Assets less Current Liabilities: Long Tem Liabilities Total Assets less Totsl Liabilitie5: (240.￿) 15,017.35 Capltsl & Reseryes Funds P & L Account 4,062.55 10,954.80 (240.(K)} {240.(M)) 15,017.35

Date: 3010412021 Time: 09.'56:(XJ Sidcu Debt Advice Period Trial Balance Page: I To Period: Month 11 March 2021 Name Debit Credit 1201 3200 4CMJI 4100 5200 7351 7352 7600 7604 7805 75￿0 7￿4 7910 Barclays Bank P Funds [k)natIor￿ Receiv8J -Non Gift Ald Grants Trainiro Projects Internet Computer and Software Membership Costs Insuran Wages - Casual Legal Fees Professional Fees Trustee costs 15,017.35 4,062.55 16,450.(K) 570. 143.88 463.93 1,050.(X) 788.70 2,268.75 35. 129.00 Totals 20 517.55 20 517.55