REGISTERED CHARITY NUMBER: 1182020
Report of the Trustees and Unaudited Financial Statements for the Year Ended 31 March 2022 for Navigate
Maxwells Chartered Accountants 4 King Square Bridgwater Somerset TA6 3YF
Contents of the Financial Statements for the Year Ended 31 March 2022
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| Page | |
|---|---|
| Report of the Trustees | 1 to 6 |
| Independent Examiner's Report | 7 |
| Statement of Financial Activities | 8 |
| Balance Sheet | 9 |
| Notes to the Financial Statements | 10 to 19 |
| Detailed Statement of Financial Activities | 20 to 21 |
Navigate
Report of the Trustees for the Year Ended 31 March 2022
The trustees present their report with the financial statements of the charity for the year ended 31 March 2022. The trustees have adopted the provisions of the Statement of Recommended Practice (SORP) 'Accounting and Reporting by Charities' issued in March 2005.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number
1182020
Principal address
Email: nikki@navigatecharity.org.uk Copy: mel@navigatecharity.org
Trustees
A H R Pritchard B D Ridley J Roxburgh Mrs C J Parmenter Ms R F Seeley Harris - appointed 7.2.22
Independent examiner
Maxwells Chartered Accountants 4 King Square Bridgwater Somerset TA6 3YF
STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document
The charity is controlled by its governing document, a deed of trust, and constitutes an unincorporated charity.
Navigate CIO is a Charitable Incorporated Organisation (CIO), registered on the 13th February 2019 Charity number 1182020. The work of Navigate was founded in 2011 as a natural development of the work of Wessex Resolutions CIC, now Lendology CIC
Navigate CIO; a charitable incorporated organisation. Registered Charity Number 1182020. Registered address: Heatherton Park Studios, Bradford on Tone, Taunton, Somerset, TA4 1EU. Navigate CIO is authorised and regulated by the Financial Conduct Authority 837950 for debt-related activities.
The CIO is governed by a Board of Trustees, currently numbering five volunteers drawn from the communities in which the Charity operates. Navigate is completely independent and has no religious or political affiliations.
The CEO, Ms M Allen is responsible for the strategic and operational direction of the Charity. The board meet a minimum of quarterly. The CEO reports regularly to the board providing reports to the trustees on operational policies and procedures, proposals for improvements in operational practices and services and all financial management information. The Charity approve annual plans for operational management.
Recruitment and appointment of new trustees
The trustees are mindful of the skill sets of the Trustees and regularly complete a skills audit to ensure effective management of the Charity. Regular training is provided and new trustees are elected by the board; recruited through volunteering, introductions, advertising or targeting specific relevant experience.
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Navigate
Report of the Trustees for the Year Ended 31 March 2022
STRUCTURE, GOVERNANCE AND MANAGEMENT
Risk management
The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.
OBJECTIVES AND ACTIVITIES Objectives
Navigate CIO's charitable objectives are:
1) The relief of poverty or financial hardship, in particular but not exclusively by providing a range of impartial money advice and support services to people in financial hardship, including those with debt problems and those encountering fuel poverty or financial exclusion, to help them achieve greater financial resilience and capability;
2) To advance education of the public in all matters relating to the management of personal finances, with particular emphasis on issues relating to financial exclusion and building individual financial resilience and capability; and
3) 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 and assisting them to integrate into society.
Navigates Vision: to eliminate social isolation and financial hardship.
Navigates Mission: To equip individuals and communities with the knowledge, skills and capabilities to overcome social isolation and financial hardship through high-quality, accessible advice services.
During the financial year, Navigate CIO had 6 different projects, delivered by 13 paid employees.
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Navigate
Report of the Trustees
for the Year Ended 31 March 2022
OBJECTIVES AND ACTIVITIES Activities Navigate provides:
Accessible, free, impartial, confidential, effective money and debt advice to specialist level. Financial education - literacy and capability.
We work with:
Individuals and families who are unable to access mainstream services, this may be due to mental ill health, physical health, caring responsibilities, learning difficulties, social isolation and exclusion. High quality resources and experienced staff.
A network of organisations spanning the public, private, charitable and community sectors.
Navigate is a founding member of the Wis£rmoney Partnership, a formal partnership between three charities: Navigate, Encompass Southwest and Mind in Somerset. The partnership was formed in 2011-12 and currently delivers a number of Financial Inclusion services across Devon and Somerset and operates under a formal partnership agreement.
The Wis£rmoney Partnership developed a model of working that achieves outstanding results by fusing specialist financial inclusion advice and support with specialist mental health services. It is unique in its delivery as one of the only partnerships providing home visiting services in rural areas.
Our ability to see the whole person and tailor advice to individual need is what makes us different from others. Our projects focus on individuals and families with complex and multiple needs, 'the hardest to reach', fusing;
Specialist Level Money/debt advice: Delivered in a sensitive client-focused manner enabling better informed choices about how to best resolve their financial problems. Debt advice to specialist level including court representation, bankruptcy, Debt Relief Order (DRO), advisers are trained DRO int ermediaries.
Wellbeing and Mental Health: Support and advocacy- facilitating initial engagement, supporting clients through the advice journey; building trusting confident r elationships with clients and referral agencies.
Welfare Benefits : advice, full eligibility assessment, practical support including form filling, liaising with DWP, appeals.
Fuel debt/energy efficiency/switching : Advice and practical support - switching suppliers, understanding energy costs, energy/money saving tips, fuel efficiency, dealing with energy debts.
Budgeting/income maximisation: Realistic (verified) budgets to ensure income is maximised, expenditure minimised and challenge poor financial practices; increasing financial understanding, skills, confidence, enabling more effective decisions regarding personal finances.
Referral and signposting : to appropriate organisations for specialist support/advice to meet client needs and address financial or personal challenges.
Financial Capability & Education: "Navigate the Money Maze". Educational workshops and courses delivered through a series of interactive games and discussions which 'steer' participants through the money maze by providing information, tips and tools to enable effective money management and to help build financial resilience.
Partnership, Social Policy and Community Development : Designing, developing and delivering a range of campaigns, tools and resources aimed at increasing awareness, understanding and knowledge of money, debt and fuel poverty issues among agencies and communities.
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Report of the Trustees for the Year Ended 31 March 2022
Navigate
OBJECTIVES AND ACTIVITIES
Funding
Our 6 projects have been funded through charitable grants and contracts:
1) The National Lottery Community Fund: Our Transitions Project works across the districts of Torridge and West Devon. Transitions aims to reduce social isolation and improve the quality of life and financial wellbeing of people living in the rural settlements of Torridge and West Devon.
2) British Gas Energy Trust (BGET): Mind in Somerset have joined the Wis£rmoney partnership to provide mental health advocacy and support as part of this project. Our BGET project aims to improve the quality of life, wellbeing and financial resilience of people living in the Districts of West Somerset, Mid-Devon and North Devon. The project works in communities across the three Districts to support people experiencing, or at risk of experiencing, poverty, financial hardship, and social and financial exclusion.
3) Hinkley Point C Community Fund (EDF). Our EDF project, funded by the Hinkley Point C (HPC) Community Fund aims to mitigate the HPC impacts of rising over-indebtedness and access to housing linked to the HPC development.
4) Mid Devon District Council: Household Support Fund, provides practical support (food, fuel etc.) to individuals and families to help Mid Devon residents who are in financial hardship.
4) Mid Devon District Council: Local Support/Hardship scheme, initially set up to support Mid Devon residents with short term practical financial support during the pandemic, the service provides practical support (food, fuel etc) to individuals and families to help Mid Devon residents who are in financial hardship.
5) Community Health & Social Care Team (CHSCT) Voluntary Sector Representation acts as a single point of contact for all community based nursing, rehabilitation and social care teams across the Northern Devon cluster. The CHSCT refer patients if a need is identified that a voluntary or community based organisation would be better placed to support. Each client referred is provided with a holistic triage to determine their needs and what matters to them and referred/signposted to appropriate organisations to meet their needs.
6) Torridge Rough Sleeper In Reach project; provides advice and support to vulnerable individuals who were rough sleeping in the district of Torridge but have now secured accommodation. Advice includes budgeting, financial education, income maximisation and debt advice.
Public benefit
The Trustees consider the objectives of the CIO, as stated above, comply with the Charities and Public Benefit Requirements. The Trustees unanimously agree that the requirement for due regard to the public benefit guidance are satisfied.
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Navigate
Report of the Trustees for the Year Ended 31 March 2022
ACHIEVEMENT AND PERFORMANCE Charitable activities
During the year Navigate CIO has:
Been independently audited by the Institute of Money Advisers (IMA) which confirms high quality advice provision.
Created a social media campaign which builds and grows our social media presence.
317 individuals completed our courses and workshops with 311 (98%) providing feedback. All participants of our educational workshops reported gaining new financial skills and feeling more confident about tackling their finances in the future.
97% felt they had a better understanding of the choices available to them to manage their money. 100% plan to use a personal budget at home to manage finances.
100% felt they had a better understanding of the pros and cons of different types of financial decisions. 93% felt more confident about managing money.
96% felt they gained a better understanding of their own decision making processes.
Received pro-bono support to develop interactive online Navigate the Money Maze courses and workshops.
Secured funding to continue to deliver during 2022-23 CHSCT project Transitions Project BGET Project MDDC Household Support Fund TRS Project EDF Project
For individuals accessing our services;
1,145 Individuals contacted us for help 1,444 Cases opened to support clients 17,589 interventions completed on behalf of clients 85% achieved at least one successful outcome 42% of clients achieved their financial goals 2,517 Successful outcomes recorded
£543,931 of debt written off £1.9MILLION of debt identified and managed £662,832 of annual gains in income £53,562 household support awards issued 528 individuals participated in Community Wellbeing Events
The CIO was established in 2019, born from the work of Wessex Resolutions CIC. Since 2012-13, Navigates' financial inclusion services were delivered as part of the work of Wessex Resolutions CIC (WRCIC). The WRCIC Board of directors considered how they might focus attention even more effectively on their commitments to the delivery of financial inclusion services and during 2018 the WRCIC board of directors undertook an organisational review. As a result, Navigate was formed and is a Charitable Incorporated Organisation (CIO), registered on the 13th February 2019 Charity number 1182020.
As a relatively new charity there have been, and continue to be, funding challenges, specifically in securing grant funding to support project and operational costs. Although there is a huge need to support people in the here and now, especially during the recovery phases of the pandemic and the cost of living crisis, the lack of funding opportunities to develop and deliver services is a huge challenge for Navigate.
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Report of the Trustees for the Year Ended 31 March 2022
Navigate
The economic climate continues to remain a difficult one and competition for funding is high. However, during the year Navigate secured £639,393 in grant, contract and donation income and have managed budgets effectively with a year-end operating surplus of £2,826.
The charity has no debts, other than operating short term liabilities.
We have continued to build effective partnerships with likeminded organisations. Navigate work with a wide range of statutory and voluntary sector organisations and believe strongly that partnership work adds value to the activities and communities we work with; building the financial resilience of individuals and reducing the stress and anxiety of many enabling them to open the door to greater community engagement and improved wellbeing.
Reserves Policy
At the end of this year the CIC have £88,090 in reserves which will be held in accordance with our reserves policy as set by the Board of Trustees. The Trustees are working towards holding unrestricted reserves to cover 6 months budgeted turnover (a target of approximately £300,000). As at 31st March 2022 unrestricted reserves of £41,521 were held falling vastly short of the target reserve policy. As a fairly new charity, it is expected to take a number of years to build the unrestricted reserves to the target monthly coverage.
On behalf of all the Trustees I would like to make a special mention of the dedication of our loyal staff and in particular our CEO, Mel Allen, during a very challenging year.
The Trustees have been keen to expand the Board and we have recently recruited five new trustees who will add a range of skills and experience to the work of Navigate.
I have also stood down as Chair and am delighted to pass this into the very capable hands of Justin Roxburgh.
Approved by order of the board of trustees on 5 October 2022 and signed on its behalf by:
B D Ridley - Trustee
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Independent Examiner's Report to the Trustees of Navigate
I report on the accounts for the year ended 31 March 2022, which are set out on pages eight to nineteen.
Responsibilities and basis of report
As the charity's trustees you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act').
I have examined your charity's accounts as required under section 145 of the Charities Act 2011 ('the Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
My role is to state whether any material matters have come to my attention giving me cause to believe:
-
that accounting records were not kept as required by section 130 of the Act; or
-
that the accounts do not accord with those records; or
-
that the accounts do not comply with the accounting requirements of the Act; or
-
that there is further information needed for a proper understanding of the accounts.
Independent examiner's statement
I have completed my examination and have no concerns in respect of the matters (1) to (4) listed above and, in connection with following the Directions of the Charity Commission I have found no matters that require drawing to your attention.
Gavin Roberts FCCA, ACA Maxwells Chartered Accountants 4 King Square Bridgwater Somerset TA6 3YF
7 October 2022
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Statement of Financial Activities for the Year Ended 31 March 2022
| Unrestricted Restricted funds funds Notes £ £ INCOMING RESOURCES Incoming resources from generated funds Voluntary income 153,899 483,139 RESOURCES EXPENDED Costs of generating funds Costs of generating voluntary income - - Charitable activities Money and debt advisory 150,784 483,338 Other resources expended - - Total resources expended 150,784 483,338 NET INCOMING/(OUTGOING) RESOURCES 3,115 (199) RECONCILIATION OF FUNDS Total funds brought forward 38,406 46,768 TOTAL FUNDS CARRIED FORWARD 41,521 46,569 |
31.3.22 Total funds £ 637,038 - 634,122 - 634,122 2,916 85,174 88,090 |
31.3.21 Total funds £ 594,596 5,219 497,017 36,241 |
|---|---|---|
| 538,477 | ||
| 56,119 29,055 |
||
| 85,174 |
The notes form part of these financial statements
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Balance Sheet At 31 March 2022
| Unrestricted Restricted funds funds Notes £ £ FIXED ASSETS Tangible assets 4 - - CURRENT ASSETS Debtors 5 4,878 3,225 Cash at bank 61,774 82,001 66,652 85,226 CREDITORS Amounts falling due within one year 6 (25,131) (38,657) NET CURRENT ASSETS 41,521 46,569 TOTAL ASSETS LESS CURRENT LIABILITIES 41,521 46,569 NET ASSETS 41,521 46,569 FUNDS 7 Unrestricted funds Restricted funds TOTAL FUNDS |
31.3.22 Total funds £ - 8,103 143,775 151,878 (63,788) 88,090 88,090 88,090 41,521 46,569 88,090 |
31.3.21 Total funds £ 2,391 17,794 131,478 149,272 (66,489) 82,783 85,174 85,174 38,406 46,768 85,174 |
|---|---|---|
The financial statements were approved by the Board of Trustees on 5 October 2022 and were signed on its behalf by:
B D Ridley -Trustee
The notes form part of these financial statements
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Notes to the Financial Statements for the Year Ended 31 March 2022
1. ACCOUNTING POLICIES
Accounting convention
The financial statements have been prepared under the historical cost convention, and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008), the Charities Act 2011 and the requirements of the Statement of Recommended Practice, Accounting and Reporting by Charities.
Incoming resources
All incoming resources are included on the Statement of Financial Activities when the charity is legally entitled to the income and the amount can be quantified with reasonable accuracy.
Resources expended
Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Motor vehicles - 20% on reducing balance
Taxation
The charity is exempt from tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
Pension costs and other post-retirement benefits
The charity operates a defined contribution pension scheme. Contributions payable to the charity's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.
2. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 March 2022 nor for the year ended 31 March 2021 .
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 March 2022 nor for the year ended 31 March 2021 .
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Notes to the Financial Statements - continued for the Year Ended 31 March 2022
3. STAFF COSTS
| Wages and salaries Social security costs Other pension costs The average monthly number of employees during the year was as follows: Office and Management No employees received emoluments in excess of £60,000. 4. TANGIBLE FIXED ASSETS COST At 1 April 2021 Disposals At 31 March 2022 DEPRECIATION At 1 April 2021 Charge for year Eliminated on disposal At 31 March 2022 NET BOOK VALUE At 31 March 2022 At 31 March 2021 |
31.3.22 31.3.21 £ £ 272,109 218,031 13,659 12,578 9,992 13,171 295,760 243,780 31.3.22 31.3.21 13 13 Motor vehicles £ 4,415 (4,415) - 2,024 735 (2,759) - - 2,391 |
|---|---|
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Notes to the Financial Statements - continued for the Year Ended 31 March 2022
5. DEBTORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
| Trade debtors Prepayments and accrued income CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Bank loans and overdrafts Trade creditors Social security and other taxes Other creditors Accruals and deferred income |
31.3.22 £ 1,292 6,811 8,103 31.3.22 £ 8,826 5,420 4,615 2,707 42,220 63,788 |
31.3.21 £ 8,273 9,521 |
|---|---|---|
| 17,794 | ||
| 31.3.21 £ - 8,889 4,672 5,258 47,670 |
||
| 66,489 |
6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
7. MOVEMENT IN FUNDS
| Net movement At 1.4.21 in funds At £ £ Unrestricted funds General fund 569 (21,976) Mid Devon District Council - Local Welfare Assistance 13,370 (1,478) Navigate the Money Maze (7,093) 15,272 Community Health & Social Care Project (CH&SCT) 18,737 5,420 Mid Devon District Council Hardship Scheme 12,021 6,533 Torridge Rough Sleeper Outreach 802 (656) 38,406 3,115 Restricted funds British Gas Energy Trust 10,951 457 Transitions 24,073 3 Awards 4 All 2,567 - Access to Justice Foundation 9,146 (2,178) The Clothworkers Foundation 31 - EDF Navigate the Money Maze - 1,519 46,768 (199) TOTAL FUNDS 85,174 2,916 |
31.3.22 £ (21,407) 11,892 8,179 24,157 18,554 146 |
|---|---|
| 41,521 11,408 24,076 2,567 6,968 31 1,519 |
|
| 46,569 | |
| 88,090 |
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Notes to the Financial Statements - continued for the Year Ended 31 March 2022
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7. MOVEMENT IN FUNDS - continued
Net movement in funds, included in the above are as follows:
| Incoming | Resources | Movement in | |
|---|---|---|---|
| resources | expended | funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 5,509 | (27,485) | (21,976) |
| Mid Devon District Council - Local Welfare Assistance | 2,499 | (3,977) | (1,478) |
| Navigate the Money Maze | 18,963 | (3,691) | 15,272 |
| Community Health & Social Care Project (CH&SCT) | 26,698 | (21,278) | 5,420 |
| Mid Devon District Council Hardship Scheme | 76,159 | (69,626) | 6,533 |
| Torridge Rough Sleeper Outreach | 24,071 | (24,727) | (656) |
| 153,899 | (150,784) | 3,115 | |
| Restricted funds | |||
| British Gas Energy Trust | 288,049 | (287,592) | 457 |
| Transitions | 143,950 | (143,947) | 3 |
| Somerset Community Foundation | 1,000 | (1,000) | - |
| Access to Justice Foundation | 2,529 | (4,707) | (2,178) |
| EDF Navigate the Money Maze | 47,611 | (46,092) | 1,519 |
| 483,139 | (483,338) | (199) | |
| TOTAL FUNDS | 637,038 | (634,122) | 2,916 |
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Notes to the Financial Statements - continued for the Year Ended 31 March 2022
7. MOVEMENT IN FUNDS - continued
Comparatives for movement in funds
| Net movement Transfers At 1.4.20 in funds between funds At £ £ £ Unrestricted Funds General fund 13,643 (12,435) (639) Mid Devon District Council - Local Welfare Assistance 5,368 8,002 - Navigate the Money Maze (6,896) (197) - Community Health & Social Care Project (CH&SCT) - 18,737 - Mid Devon District Council Hardship Scheme - 12,021 - Torridge Rough Sleeper Outreach - 802 - 12,115 26,930 (639) Restricted Funds British Gas Energy Trust 16,940 (5,989) - Transitions - 24,073 - Awards 4 All - 2,567 - Somerset Community Foundation - (639) 639 Access to Justice Foundation - 9,146 - The Clothworkers Foundation - 31 - 16,940 29,189 639 TOTAL FUNDS 29,055 56,119 - |
31.3.21 £ 569 13,370 (7,093) 18,737 12,021 802 38,406 10,951 24,073 2,567 - 9,146 31 46,768 85,174 |
|---|---|
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Notes to the Financial Statements - continued for the Year Ended 31 March 2022
7. MOVEMENT IN FUNDS - continued
Comparative net movement in funds, included in the above are as follows:
| Incoming | Resources | Movement in | |
|---|---|---|---|
| resources | expended | funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 28,469 | (40,904) | (12,435) |
| Mid Devon District Council - Local Welfare Assistance | 30,090 | (22,088) | 8,002 |
| Navigate the Money Maze | (150) | (47) | (197) |
| Community Health & Social Care Project (CH&SCT) | 29,246 | (10,509) | 18,737 |
| Mid Devon District Council Hardship Scheme | 46,633 | (34,612) | 12,021 |
| Torridge Rough Sleeper Outreach | 11,222 | (10,420) | 802 |
| 145,510 | (118,580) | 26,930 | |
| Restricted funds | |||
| British Gas Energy Trust | 236,621 | (242,610) | (5,989) |
| Transitions | 145,461 | (121,388) | 24,073 |
| Awards 4 All | 6,533 | (3,966) | 2,567 |
| Somerset Community Foundation | 4,000 | (4,639) | (639) |
| Access to Justice Foundation | 52,871 | (43,725) | 9,146 |
| The Clothworkers Foundation | 3,600 | (3,569) | 31 |
| 449,086 | (419,897) | 29,189 | |
| TOTAL FUNDS | 594,596 | (538,477) | 56,119 |
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Notes to the Financial Statements - continued for the Year Ended 31 March 2022
7. MOVEMENT IN FUNDS - continued
A current year 12 months and prior year 12 months combined position is as follows:
| Net movement | Transfers | |||
|---|---|---|---|---|
| At 1.4.20 | in funds | between funds | At 31.3.22 | |
| £ | £ | £ | £ | |
| Unrestricted funds | ||||
| General fund | 13,643 | (34,411) | (639) | (21,407) |
| Mid Devon District Council - Local Welfare | ||||
| Assistance | 5,368 | 6,524 | - | 11,892 |
| Navigate the Money Maze | (6,896) | 15,075 | - | 8,179 |
| Community Health & Social Care Project | ||||
| (CH&SCT) | - | 24,157 | - | 24,157 |
| Mid Devon District Council Hardship Scheme | - | 18,554 | - | 18,554 |
| Torridge Rough Sleeper Outreach | - | 146 | - | 146 |
| Restricted funds | ||||
| British Gas Energy Trust | 16,940 | (5,532) | - | 11,408 |
| Transitions | - | 24,076 | - | 24,076 |
| Awards 4 All | - | 2,567 | - | 2,567 |
| Somerset Community Foundation | - | (639) | 639 | - |
| Access to Justice Foundation | - | 6,968 | - | 6,968 |
| The Clothworkers Foundation | - | 31 | - | 31 |
| EDF Navigate the Money Maze | - | 1,519 | - | 1,519 |
| 16,940 | 28,990 | 639 | 46,569 | |
| TOTAL FUNDS | 29,055 | 59,035 | - | 88,090 |
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Notes to the Financial Statements - continued for the Year Ended 31 March 2022
7. MOVEMENT IN FUNDS - continued
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Unrestricted funds General fund Mid Devon District Council - Local Welfare Assistance Navigate the Money Maze Community Health & Social Care Project (CH&SCT) Mid Devon District Council Hardship Scheme Torridge Rough Sleeper Outreach Restricted funds British Gas Energy Trust Transitions Awards 4 All Somerset Community Foundation Access to Justice Foundation The Clothworkers Foundation EDF Navigate the Money Maze TOTAL FUNDS |
Incoming resources £ 33,978 32,589 18,813 55,944 122,792 35,293 299,409 524,670 289,411 6,533 5,000 55,400 3,600 47,611 932,225 1,231,634 |
Resources Movement in expended funds £ £ (68,389) (34,411) (26,065) 6,524 (3,738) 15,075 (31,787) 24,157 (104,238) 18,554 (35,147) 146 (269,364) 30,045 (530,202) (5,532) (265,335) 24,076 (3,966) 2,567 (5,639) (639) (48,432) 6,968 (3,569) 31 (46,092) 1,519 (903,235) 28,990 (1,172,599 ) 59,035 |
|---|---|---|
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Notes to the Financial Statements - continued for the Year Ended 31 March 2022
7. MOVEMENT IN FUNDS - continued
British Gas Energy Trust (BGET)
Our BGET project is funded by the British Gas Energy Trust. Mind in Somerset have joined the Wis£rmoney partnership to provide mental health advocacy and support as part of this project. Our BGET project aims to improve the quality of life, wellbeing and financial resilience of people living in the Districts of West Somerset, Mid-Devon and North Devon. The project works in communities across the three Districts to support people experiencing, or at risk of experiencing, poverty, financial hardship, and social and financial exclusion.
Mid Devon District Council - Local Welfare Assistance
Is a fund set up and funded by Mid Devon District Council to help Mid Devon residents who are facing exceptional financial difficulty.
Navigate the Money Maze
Funded by Somerset Community Foundation, funding to support accreditation of Navigate the Money Maze courses which are workshops delivered through a series of games providing tips and tools to help build confidence in managing money and dealing with financial challenges.
Transitions
The Transitions Project works across the districts of Torridge and West Devon and is funded by the National Lottery Community Fund. Transitions aim to reduce social isolation and improve the quality of life and financial wellbeing of people living in the rural settlements of Torridge and West Devon.
Awards 4 All
Funded by the National Lottery Awards for All Programme. A partnership project to support individuals who have recently been street homeless to build financial resilience through one to one money and debt advice and group financial capability workshops.
Mid Devon District Council: Local Support/Hardship scheme
Initially set up to support Mid Devon residents with short term practical financial support during the pandemic, the service provides practical support (food, fuel etc) to individuals and families to help Mid Devon residents who are in financial hardship.
Somerset Community Foundation
Accreditation of Navigate the Money Maze - funded by Somerset Community Foundation. Funding to support accreditation of Navigate the Money Maze courses.
Community Health & Social Care Project (CH&SCT)
Provide voluntary and community sector representation to Barnstaple, Torrington, Holsworthy, Bideford & Ilfracombe Community Health & Social Care Teams .
Torridge Rough Sleeper In Reach
Provides advice and support to vulnerable individuals who were rough sleeping in the district of Torridge but have now secured accommodation. Advice includes budgeting, financial education, income maximisation and debt advice.
Access to Justice Foundation
The Community Justice Fund is a joint initiative to help specialist social welfare legal advice organisations cope with the immediate impact of the COVID-19 pandemic and lay the foundations for longer-term renewal.
The Clothworkers Foundation
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Notes to the Financial Statements - continued for the Year Ended 31 March 2022
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7. MOVEMENT IN FUNDS - continued
Award capital grants to charities registered in the UK and to not-for-profit organisations which can demonstrate that they work across one or more of their defined programme areas.
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Detailed Statement of Financial Activities for the Year Ended 31 March 2022
| INCOMING RESOURCES Voluntary income Gifts Donations Grants Other revenue Total incoming resources RESOURCES EXPENDED Costs of generating voluntary income Wages Social security Pensions Telephone Postage, stationery & computer Staff costs and consulting Charitable activities Wages Social security Pensions Subcontractors Computer and stationery costs Staff recruitment and training Telephone Marketing Travelling and meeting costs Sundries Staff costs Legal and compliance fees Grants to individuals |
31.3.22 £ - - 616,881 20,157 637,038 637,038 - - - - - - - 254,624 13,432 9,878 188,085 26,046 9,526 5,398 718 8,992 364 1,654 219 75,987 594,923 |
31.3.21 £ - 12,627 566,132 15,837 |
|---|---|---|
| 594,596 | ||
| 594,596 4,120 463 331 60 229 16 |
||
| 5,219 201,667 10,473 11,852 195,880 22,636 5,275 4,213 323 1,878 1,871 2,708 2,937 35,304 |
||
| 497,017 |
Support costs
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Detailed Statement of Financial Activities for the Year Ended 31 March 2022
| Management Insurance Telephone Postage and stationery Expenses Finance Bank charges Depreciation of tangible fixed assets Loss on sale of tangible fixed assets Governance costs Wages Social security Pensions IT & Software Subscriptions Legal and compliance fees Sundries Accountancy Staff costs Total resources expended Net income |
31.3.22 £ 5,035 - 56 612 5,703 3,976 736 (2,344) 2,368 17,485 227 114 1,139 286 7,270 1,942 2,480 185 31,128 634,122 2,916 |
31.3.21 £ 4,282 116 53 38 |
|---|---|---|
| 4,489 3,857 1,104 - |
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| 4,961 12,244 1,642 988 3,302 1,132 2,048 2,778 2,340 317 |
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| 26,791 | ||
| 538,477 | ||
| 56,119 |
This page does not form part of the statutory financial statements
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