**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
## Navigate
||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.
Page 1
## 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.
Page 2
## 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.
Page 3
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.
Page 4
## 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.
Page 5
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
Page 6
## 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:
1. that accounting records were not kept as required by section 130 of the Act; or
2. that the accounts do not accord with those records; or
3. that the accounts do not comply with the accounting requirements of the Act; or
4. 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
Page 7
## Navigate
## 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
Page 8
## Navigate
## 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
Page 9
Navigate
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 .
Page 10
## Navigate
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|
|---|---|
Page 11
## Navigate
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**|
Page 12
Notes to the Financial Statements - continued for the Year Ended 31 March 2022
## Navigate
## **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**|
Page 13
## Navigate
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**|
|---|---|
Page 14
## Navigate
## 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**|
|||||
Page 15
## Navigate
## 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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## Navigate
## 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**|
|---|---|---|
Page 17
Navigate
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**
Page 18
Notes to the Financial Statements - continued for the Year Ended 31 March 2022
## Navigate
## **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.
Page 19
## Navigate
## 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**
This page does not form part of the statutory financial statements
Page 20
## Navigate
## 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
-|
|||4,961
12,244
1,642
988
3,302
1,132
2,048
2,778
2,340
317|
|||26,791|
|||538,477|
|||56,119|
This page does not form part of the statutory financial statements
Page 21