Trustees’ Annual Report for the period
From 01/04/2022 Period start date To 31/03/2023 Period end date
Charity name: SIDCUP DEBT ADVICE
Charity registration number:1169856
Objectives and Activities
| SORP reference | ||
|---|---|---|
| Summary of the purposes of the charity as set out in its governing document |
Para 1.17 | 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. |
| Summary of the main activities in relation to those purposes for the public benefit, in particular, the activities, projects or services identified in the accounts. |
Para 1.17 and 1.19 |
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. Although all advisers have been trained to the required level, all advisers continue to be encouraged to undertake CPD with Wiseradviser. This is to ensure the service that is provided is 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. We continue to develop the multiple links with local support agencies that we created last year. For example, our relationship with Pier Road, an NHS based charity in Erith, Kent, whose client base has complex needs, has grown substantially and we are in weekly contact. We reiterate that the number of clients does not necessarily mirror how busy we have been. One client having complicated debts can absorb more working hours than several ‘straightforward’ clients put together. |
| We have found that the working practices we adopted due to the Coronavirus pandemic continues to serve us well. Zoom video calls continue to be preferred to face-to-face meetings and office working has been replaced by home working. The remote working model has been successful in more flexible working practices and hours. It is now standard for records to be supplied and maintained on-line with pdfs. The number of client appointments were 16 (15 2021/22). However, over 2,280 (1,220 2021/22) emails were exchanged associated with client debts - some emails having multiple layers behind them. The three dedicated mobile devices using a charity bundle from Tesco Mobile have continued to be invaluable in communication with clients, especially via WhatsApp. Our use of Twitter and Facebook has increased but still have not resulted in any clients during the period. It is not possible, unfortunately, to help everyone who contacts us. During the year we received 35 (27 2021/21) 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. SDA also had 20 calls on the Voicemail associated with current clients – these can be the client calling or a Creditor. |
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|---|---|---|
| Statement confirming whether the trustees have had regard to the guidance issued by the Charity Commission on public benefit |
Para 1.18 | 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. |
Additional information (optional) You may choose to include further statements where relevant about:
| SORP reference | ||
|---|---|---|
| Policy on grant making | Para 1.38 | Sidcup Debt Advice does not make grants |
| Policy on social investment including program related investment |
Para 1.38 | |
|---|---|---|
| Contribution made by volunteers |
Para 1.38 | Although all advisers have been trained to the required level, all advisers continue to be encouraged to undertake CPD with Wiseradviser. This is to ensure the service that is provided is 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. |
| Other |
Achievements and Performance
| SORP reference | ||
|---|---|---|
| Summary of the main achievements of the charity, identifying the difference the charity’s work has made to the circumstances of its beneficiaries and any wider benefits to society as a whole. |
Para 1.20 | SDA started the year with sixteen clients, we took on a further 38 new clients during the year, 33 of whom were closed in the period leaving a net at the period end of 21 managing a total debt of £294,881.13. Some of the clients have been complex due to the increased number of those with backgrounds of various abuses both physical and drug related. Our relationship with Pier Road charity in Erith, Kent has grown substantially with weekly calls ongoing and approximately 16 client meetings throughout the year. |
Additional information (optional) You may choose to include further statements where relevant about:
| Achievements against objectives set |
Para 1.41 | |
| Performance of fundraising activities against objectives set |
Para 1.41 |
| Investment performance against objectives |
Para 1.41 | |
| Other |
Financial Review
| Financial Review | ||
|---|---|---|
| Review of the charity’s financial position at the end of the period |
Para 1.21 | The charity’s costs for the year exceeded its income but the Trustees are positive that the reserves combined with future grants will enable it to continue into the future. The Trustees continue to monitor the financial position at each Trustee meeting |
| Statement explaining the policy for holding reserves stating why they are held |
Para 1.22 | The charity’s currently policy on reserves is to ensure there are sufficient funds to meet the essential costs for the following year. |
| Amount of reserves held | Para 1.22 | 7398 |
| Reasons for holding zero reserves |
Para 1.22 | n/a |
| Details of fund materially in deficit |
Para 1.24 | No funds were in deficit |
| Explanation of any uncertainties about the charity continuing as a going concern |
Para 1.23 | The Trustees are confident that further income can be obtained to ensure the going concern of the charity |
| Additional information (optional) You may choose to include further statements |
Additional information (optional) You may choose to include further statements |
where relevant about: |
|---|---|---|
| The charity’s principal sources of funds (including any fundraising) |
Para 1.47 | A grant from a local charity, the Harenc Community Trust, helped to continue to fund the admin assistant. A grant from another local body, William Kendall’s Charity, provided funds for training Grants were obtained from churches in Sidcup, Kent |
| Investment policy and objectives including any social investment policy adopted |
Para 1.46 | n/a |
| A description of the principal risks facing the charity |
Para 1.46 | Failure to obtain new or increased funding would result in a reduction of paid staff and thereby the services the charity would be able to provide. |
| Other |
Structure, Governance and Management
| Description of charity’s trusts: |
||
|---|---|---|
| Type of governing document (trust deed, royal charter) |
Para 1.25 | Constitution |
| How is the charity constituted? (e.g unincorporated association, CIO) |
Para 1.25 | Charitable Incorporated Organisation |
| Trustee selection methods including details of any constitutional provisions e.g. election to post or name of any person or body entitled to appoint one or more trustees |
Para 1.25 | Appointed by existing Trustees |
Additional information (optional) You may choose to include further statements where relevant about:
| Policies and procedures adopted for the induction and training of trustees |
Para 1.51 | |
| The charity’s organisational structure and any wider network with which the charity works |
Para 1.51 | The charity is affiliated to the national money advice charity Community Money Advice – charity number 1111436 |
| Relationship with any related parties |
Para 1.51 | |
| Other |
Reference and Administrative details
| Charity name | Sidcup Debt Advice |
|---|---|
| Other name the charity uses | |
| Registered charity number | 1169856 |
| Charity’s principal address | 24 Station Road Sidcup Kent 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 Michael John Conway |
Chair | |||
| Mr Charles Edward January |
Treasurer/Secretary | |||
| Mr Michael Pinnard | ||||
| Mr Paul William Hurren |
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– Corporate trustees names of the directors at the date the report was approved
Director name
Name of trustees holding title to property belonging to the charity
Trustee name Dates acted if not for whole year
Funds held as custodian trustees on behalf of others
Description of the assets held in this capacity
Name and objects of the charity on whose behalf the assets are held and how this falls within the custodian charity’s objects Details of arrangements for safe custody and segregation of such assets from the charity’s own assets
Additional information (optional)
Names and addresses of advisers (Optional information)
| Type of | Name | Address |
|---|---|---|
| adviser |
Name of chief executive or names of senior staff members (Optional information)
Exemptions from disclosure
Reason for non-disclosure of key personnel details
Other optional information
Declarations
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 (eg Secretary, Chair, etc) Date |
||
|---|---|---|
| Charles Edward January | ||
Secretary |
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| 28/01/2024 | ||
| 28/01/2024 |
Date: 3010812023 Time." 13:44'25 Sidcu Debt Advice Profit and Loss Page.. From: Month 12, March 2023 Month 12, March 2023 Chart of Accounts: Defautt Layout of Accounts Yearto Date Sales Donations Grants 1,180.17 6,170.CK) 7,350.17 Purchases 0.00 Dirert Expenses 0.00 Gross Profitl(Loss): Overheads Support Costs - Prlnting and Stattollery Support Costs - Telephone and Compltsr Supwrt Costs - General Expenses Management & Admin - Gross Wages Management & Admin - Professional Fees 7,350.17 130.51 268.87 1,833.70 9,658.25 35.00 I,1.00 1,009.40 11,926.33 Net Profit/(Loss).' (1,009.40) (4,576.16)
Date: 3010812023 Time: 13.'44:50 Sidcu Debt Advice Balance Sheet Page: From: To: Nonth 12, March 2023 Month 12, March 2023 Chart of Accounts. Default Layout of Accounts Period Year to Date Fixed Assets 0.00 Current Assets Bank Account 7,397.93 7,397.93 Current Llabllittes Bank Account I,CK)9.40 I,¢X)9.40 (I,CK)9.40) (I,(J)9.40} 0.00 7,397.93 7,397.93 Current Assets less Current Liablllties: Total Assets less Curyent Liabilities.. Long Term Liabilities 0.0 Total Assets less Total Liabilitles." Capital & Reserves Funds P & L Account (1,009.40) 7,397.93 11,974.09 {4,576.16) (I,C09.40) (I.IX>9.40) 7,397.93