## **Trustees’ Annual Report for the period** **From 01/04/2023 Period start date To 31/03/2024 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.**
**SDA started the year with 21 clients (16**
**2022/23); we took on a further 35 (38**
**2022/23) new clients during the year; 39 (33**
**2022/23) clients were closed in the period**
**leaving a net at the period end of 17 (21**
**2022/23). We managed a total debt of**
**£597,745.24 (£294,881.13 2022/23).**
**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 with approximately 12 (16 2022/23) client meetings throughout the year. Some of the clients have been complex due to the increased number of those with backgrounds of various abuses both physical and drug related 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 also established relationships with the Irish Community Services Greenwich, and various social service sections of Bexley Council. 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 12 (16 2022/23). However, over 2,258 (2,280 2022/23) 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/X and Facebook has continued 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 38 (35 2022/23) 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 61 (20 2022/23) calls on the Voicemail associated with current clients – these can be the client calling or a Creditor.** |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 21 clients, we took**
**on a further 35 new clients during the year**
**and closed 39 in the period leaving, a net at**
**the period end of 17. We managed a total**
**debt of £597,745, more than double the**
**previous year. 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 12 client meetings**
**throughout the year. We have also**
**established relationships with the Irish**
**Community Services Greenwich, and various**
**social service sections of Bexley Council.**| |---|---|---| ## **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 income for the year**
**exceeded its expenditure and 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|**8,424**| |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 the National Lottery**
**provided a significant boost to funds.**
**The second of three grants 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 on a majority**
**vote**| ## **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
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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**|||| |||||| |||||| |||||| |||||| |||||| |||||| |||||| |||||| |||||| |||||| |||||| |||||| |||||| |||||| |||||| |||||| ## – 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)**|**Signature(s)**|| |---|---|---| ||—||| ||ae|-| |||“i,| |||)| |**Full name(s)**|**Full name(s)**Charles Edward January|| |**Position (eg Secretary,**|Secretary|| |**Chair, etc)**||| |||| |**Date**21/01/2025|21/01/2025|| Date: 30/Q812023 Time: 13:44:25 Debt Advice Profit and Loss From: To: Month 12, March 2023 Month 12, March 2023 Chart of Accounts: Default Layout of Accounts Period Year to Date Sales Donations Grants 0.00 0.00 1,180.17 6,170.00 0.00 7,350.17 Purchases 0.00 0.00 Dirert Expenses 0.00 0.00 Gross Profit/(Loss): Overheads Support Costs - Printing and Stationery Support Costs - Telephone and Computer Support Costs - General Expenses Management & Admin - Gross Waqes Management & Admin - Professional Fees 0,00 7,350.17 8.40 0,00 0.00 1,001.00 0.00 130.51 268.87 1,833.70 9,658.25 35.00 1,009,40 11,926.33 Net Profltl(Loss): (1,009.40) (4,576.16) Date: 30/0812023 Time: 13:44..50 Sidcu Debt Advice Balance Sheet Page: From: To: Month 12, March 2023 Month 12, March 2023 Chart ofAccounts: Default Layout of Accounts Perlod Year to Date Flxed Assets 0.00 0.00 Current Assets Bank Account 0.00 7,397.93 0.00 7,397.93 Current Llabillties Bank Account 1,009.40 0.00 1,009.40 (1,009.40) (1,009.40) o.oo Current Assets less Current Liablllties: Total Assets less Current Llabilitles: Long Term Liabilltles 7,397.93 7,397.93 0.00 0.00 Total Assets less Total Liabilltles: (1,009.40) 7,397.93 Capital & Reserves Funds P & L Account 0.00 (1,009,40) 11,974.09 (4,576.16) (1,009.40) 7,397.93