CHISWICK MONEY ADVICE CENTRE Registered Charity Number 1185550
ANNUAL REPORT AND ACCOUNTS
FOR THE YEAR ENDED 31 DECEMBER 2024
Crosslight Advice Chiswick
in partnership with
CHISWICK MONEY ADVICE CENTRE
REPORT & ACCOUNTS 2024
| CONTENTS | PAGE | |
|---|---|---|
| Report of Trustees | 1 | |
| Trustees, Officers & Advisors | 1 | |
| Mission & Objectives | 2 | |
| Activities, Achievements & Performance | 2 | |
| The Challenges Faced by Our Clients | 3 | |
| Social Impact | 3 | |
| Marie’s Story | 4 | |
| Structure & Governance | 5 | |
| Financial Review, Risk Management & Reserves Policy | 5 | |
| Trustees’ Responsibilities in Respect of the Preparation of the Accounts 6 | ||
| Independent Examiner’s Report | 7 | |
| Receipts & Payment Accounts | 8 | |
| Statement of Assets & Liabilities | 9 | |
| Notes to the Accounts | 10 |
CHISWICK MONEY ADVICE CENTRE
REPORT & ACCOUNTS 2024
REPORT OF THE TRUSTEES
The trustees present their report together with the accounts of Chiswick Money Advice Centre (CMAC) for the year ending 31 December 2023.
Trustees:
Name First Term of Election Role Nicholas Lines 4 years Chairman Barbara Walton 4 years Treasurer (re-elected September 2021) The Reverend Simon Brandes 4 years St Nicholas Elected PCC (re-elected September 2024) Trustee
Principal Office:
Chiswick Money Advice Centre’s (CMAC) registered address is:
c/o St Nicholas Church Parish Office The Vicarage Chiswick Mall Chiswick, W4 2PJ
Professional Advisors:
Bankers: NatWest Bank Hammersmith (C) Branch 22 King's Mall Hammersmith, W6 0PZ
Independent Examiner: Sally Layburn – FCA 62 The Garth Yarnton, Oxfordshire OX3 0NQ
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CHISWICK MONEY ADVICE CENTRE
REPORT & ACCOUNTS 2024
REPORT OF THE TRUSTEES
Mission & Objectives
Chiswick Money Advice Centre is an independent, person-centred charity working to alleviate poverty amongst the most vulnerable in our communities and help them build a better future. CMAC works in partnership with the charity Crosslight Advice (charity number 1163306) and fulfils its mission through the joint operation of the Crosslight branch in Chiswick, known as Crosslight Chiswick. Our joint vision is to restore dignity and renew hope to those in need by reducing debt poverty and improving financial capability.
Our approach is deeply personal, taking individual needs and capabilities into account as we meet each person at their point of need and help them to full restoration, however long it takes. Our service is set up to enable us to walk alongside our clients over the long term if necessary; there is no cap on appointments and no limit to the duration of support we provide. Most of our clients come to us at a point of crisis, often facing the threat of eviction, court orders, visits from bailiffs, and mounting priority debts. Simply being given the time to be heard can have a huge impact. Our programmes provide comprehensive debt & benefit advice, build financial resilience through money education and budgeting coaching, and we mentor clients with open ended holistic support. Our Christian ethos and our five core values lie at the heart of all that we do and underpin our work. These values are:
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To help anyone, regardless of background, gender, ethnicity, sexuality, faith, age or circumstance, who is willing to proactively work with us to address their situation
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To model unconditional love and compassion to all
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To act without judgement in the best interests of our clients to the best of our ability
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To be open, honest and fair in all our dealings with clients and creditors alike, and to expect the same in return
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To empower our clients to make their own informed decisions and act for themselves wherever possible
The objects of CMAC are:
(i) the relief of those in need by reason of age, ill health, disability, financial hardship or other disadvantage; (ii) to further such other exclusively charitable purposes according to the law of England and Wales as the trustees in their absolute discretion from time to time determine.
We refer to the Charity Commission’s general guidance on public benefit when reviewing the objectives and aims of CMAC and in planning.
Activities, Achievements & Performance
The year ending 31 December 2024 was CMAC’s fifth year of operation as its own charity, although Crosslight Chiswick has been operating as a part of St Nicholas Church since May 2015.
CMAC has two part time employees (the second of whom joined in September 23) and 6 volunteers who dedicate many hours of their time to meeting clients and helping with case management and other activities. One volunteer is a qualified case manager and 3 of the volunteers have trained as personal budget coaches. In addition, a part time member of staff has been hired in 2024 by Crosslight Advice whose primary purpose is to support Crosslight Chiswick.
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CHISWICK MONEY ADVICE CENTRE
REPORT & ACCOUNTS 2024
REPORT OF THE TRUSTEES
We work in a hybrid way, primarily face-to-face but continue to see some clients online and through video conference appointments which enables us to see clients who could not have seen us face to face due to health or other personal circumstances. We continue working with Hounslow Council’s Community Solutions team, offering a one stop shop/drop in centre with other charities and organisations alongside Crosslight for people that are struggling with multiple issues. Easy cases are able to be resolved on the spot and more difficult cases can be referred into the Crosslight Centre and an appointment booked so that we are able to help them more intensively over a longer period of time. This has proved incredibly successful and if resources are made available will be expanded.
In the year 2024, Crosslight Chiswick held 667 appointments including those by Crosslight Advice staff on behalf Crosslight Chiswick (463 in 2023), with 174 clients of whom 88 were new (2023 - 123 clients, 60 new). Income gains of £305,010.14 for 64 clients were achieved and write-offs of £ 125,253.46 for 9 clients.
The majority of our clients are usually referred to us from a wide variety of sources including London Borough of Hounslow, Hestia, the NHS and friends and family.
The Challenges Faced by Our Clients
The majority of our clients have complex needs which require dozens of hours of patient case work:
| 2024 | 2023 | Change | |
|---|---|---|---|
| Average debt per client | 12,726 | 22,328 | |
| % of clients who have long-term health issues | 74% | 62% | |
| Average number of debts per client | 9 | 14 |
Social Impact
It is crucial for us to know if we are truly meeting the needs of those we seek to support. Our holistic approach means that we often get to know our clients very well and have the privilege of supporting them through many personal situations which may be a cause of, or caused by, their financial situation. We ask all our clients two sets of simple questions, six months apart, which have been designed to evaluate the practical and emotional impact of our work on the client’s lived experience. We use the responses to analyse the impact of our interventions on the lives of those we support.
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86% of clients said
their main debt
issue had been
resolved
93% of clients feel
their financial
outlook had
improved
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86% of clients
reported being
less stressed
Social Impact statistics
from Crosslight Advice as
a whole.
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CHISWICK MONEY ADVICE CENTRE
REPORT & ACCOUNTS 2024
REPORT OF THE TRUSTEES
We first reported on Marie* in our 2022 annual report: She contacted Crosslight as a 32-year-old single mother of a toddler and a seven-year-old, with a third child on the way. She had been studying Health and Social Care at West London College but had had to give up her studies to look after the two children. She was living on benefits with them in her one-bedroom council flat and had been on a waiting list for two-bedroom accommodation since before the second child was born—the demand for scarce social housing meant that her situation had not qualified her as a priority case for a larger flat. She had been steadily falling farther and farther behind on her bills: She had rent arrears, council-tax arrears, and utility arrears and owed money for an advance on her Universal Credit.
Crosslight initially helped Marie clear her debts with a DRO, and we applied for grants to help her with much-needed household items. Since Marie struggled with bouts of severe depression and needed additional support to manage her finances, we continued to engage with her: She enrolled in Crosslight’s Money Course and attended budgetcoaching sessions, learning strategies for keeping her finances healthy. When a new baby arrived, she finally obtained medical priority for larger accommodation and moved to a property that was more suitable for her growing family. We helped her apply for appropriate benefits, such as council-tax support and low-income utilities tariffs, in her new borough. We also helped support her to make a successful application for PIP. Her income now allows her a sustainable household budget, and we have been able to “graduate” Marie knowing that she can now maintain a stable home environment. Marie said to us, “I wouldn't have been able to do any of this if you hadn't been involved in my life. I am so, so grateful to you.”
Sanjay* was referred to Crosslight in November 2024: A former taxi driver, he had suffered a debilitating stroke two years previously that prevented him from working and affected his speech and mobility. He was receiving Universal Credit and PIP but, because of his disabilities, had failed to pay rent or utility bills over a long period, building up thousands of pounds of arrears. Crosslight recommended as a top priority that Sanjay speak to his GP about available health support. He was quickly able to obtain a dedicated support worker from the local charity Hounslow Reach. The support worker joined appointments with Crosslight, and we guided him in helping Sanjay to get his rent paid directly by Universal Credit, to set up direct debits for other bills, and to put in place manageable payments toward arrears. Sanjay was pleased that we were able to help him show how to prove he had not lived at an address where he was being chased for a debt. By the beginning of July 2025, Sanjay had arrangements in place to manage his outgoings and clear his arrears over time, and we were able to close Sanjay’s case file.
* Names have been changed to protect the identity of the individuals
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CHISWICK MONEY ADVICE CENTRE
REPORT & ACCOUNTS 2024
REPORT OF THE TRUSTEES
Structure & Governance
Chiswick Money Advice Centre (CMAC) is a registered charity governed by the Charities Commission for England and Wales, registration number 1185550. It is a charitable incorporated organisation governed by a written constitution dated 23 September 2019 and registered with the Charity Commission on 30 September 2019. Operations transferred from St Nicholas Church to CMAC on 1 January 2020, shortly after it was able to open its own bank account.
The charity has a formal relationship with the registered Charitable Incorporated Organisation Crosslight Advice (1163306) and jointly operates Crosslight Chiswick, one of several Crosslight branches serving the needs of local communities. CMAC and Crosslight assume different responsibilities regarding the overall operations of Crosslight Chiswick, to ensure an efficient and costeffective structure that avoids duplication, reduces overall costs through shared resources and economies of scale, and provides the biggest impact to those being served. The responsibilities of each organisation are codified in a memorandum of understanding between Crosslight Advice and CMAC. Crosslight Advice is the entity authorised by the Financial Conduct Authority, and the staff of CMAC provide debt advice as agents of Crosslight Advice under the day-to-day management of the Crosslight CEO.
CMAC is governed by a Board of Trustees who support CMAC in achieving its charitable objectives and meets every 2 months to discuss fundraising and CMAC’s operations.
Apart from the first trustees listed, every appointed trustee must be appointed for a term of 4 years by a resolution passed at a properly convened meeting of the trustees. Trustees can serve a maximum of 3 terms and then must break for a minimum of at least one year before being eligible to be reappointed to the Board.
In selecting individuals for appointment, the trustees must have regard to the skills, knowledge and experience needed for the effective administration of CMAC. They are also given a copy of the latest report and accounts in order to gain an understanding of the organisation’s financial affairs and of its governing document.
The day-to-day operations are delegated to the part time Centre Manager and her team of volunteers.
Related parties
Nicholas Lines is a trustee of Crosslight Advice as well as CMAC.
CMAC also has a partnership with St Nicholas Chiswick and benefits from the use of free office and meeting facilities. Father Simon Brandes is the vicar, and Chairman of the Parochial Church Council of St Nicholas Chiswick.
Financial Review, Risk Management & Reserves Policy
Total incoming resources for the period amounted to £67,725 (2023: £36,225). Resources expended on charitable activities were £54,482 (2023: £37,801).
The trustees continue to review and assess the key operational, governance, compliance and financial risks faced by CMAC. Some of these risks are addressed through the MOU that CMAC has with Crosslight Advice who develops most of the policies and procedures adopted by CMAC.
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CHISMCK IAOPIEY ADVICE CENTRE REPORT&ACCOUNTS 2024 INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES I report on the accounts of Chiswick Money Advice Centreforthe year ended 31 December 2024 which are set out on pages 8 to 11. Responsibilities and basis of the report As the charitVs Trustees, you are responsible for the preparation of the accounts in accordance with the Charities Act 20111.the ACVI. I report in respertof myexamination of the Trusvs accounts carried out under seLtion 145 of the 2011 Act and in carrying out by examination. I have followed all the applicable Directions Biven by the Charity Commission under section 14515llbl of the Act. Independent emaminerfs statement I have completed my examination. I confirm that no material matters have come to my attention in connertion with the examination whith gives me cause to believe that in any material respect: The accounting records were not kept in accordance with settion 130 of the Act. or The accounts did not accord with accounting record5. or The accounts did not comply with the applicable requirefnents toncerning the form and content of accounts set out in the Charrties IAccounts and Reports) Regulations 2)8 other than any reqU1ment that the accounts give a 'true and fairf view which is not a matter considered as part of an independent examination. I have no concerns and have come acr055 no other matters in connection wtth the examination to which attention should be drawn in this report in order to enable a proper under5tandÉng of the accounts to be reached. Sally Layburn- FCA 62 The Garth Yarnton Oxfordshlre OX5 INB 4 September 2025
| Unrestricted | Restricted | Total | Total | ||
|---|---|---|---|---|---|
| Year Ended | Year Ended | Year Ended | Year Ended | ||
| 2924 | ?,024 | 2A24 | 2A2t | ||
| lncome | |||||
| Donations& grants | 1-9,475 | 48,250 | 67,725 | 36,225 | |
| Total lncome | 5&5 | 19,475 | 48,250 | 67,725 | 16,225 |
| Expenditure | |||||
| Charitable activities | |||||
| Contributionsto | |||||
| supporting | 10,500 | 10,500 | 10,500 | ||
| charities | |||||
| Staff costs | 4 | 43,906 | 43,905 | 25,098 | |
| Other directcosts | 4 | 9 | 67 | 76 | 1,203 |
| Totalexpenditure | 9 | 54,479 | 54,82 | ,7,8O1. | |
| Net incomeforthe | |||||
| year | 19,466 | (6,2231 | L?,243 | (1,575) | |
| Fundsbroughtforward | 21,950 | 11,510 | 33,460 | 35,036 | |
| Total funds | |||||
| carriedforward | 41,4L6 | 5,287 | 46,703 | 33,460 |
| Notes | 2024 | 2023 |
|
|---|---|---|---|
| f | f | ||
| Assets | |||
| Cashatbank | 46,703 | 34,622 | |
| Tax reclaim | 3 | ||
| Liabilities | |||
| Accruedliabilities | 4 | 0 | 1,162 |
| Total NetAssets | 46,703 | 33,460 | |
| StatementofFunds | |||
| Total Unrestrictedgeneralfunds | 41,4!6 | 2L,950 | |
| TotalRestrictedfunds | 5,287 | 11,510 | |
| TotalFunds | 46,703 | 33,460 |
CHISWICK MONEY ADVICE CENTRE
REPORT & ACCOUNTS 2024
NOTES TO THE ACCOUNTS For the Year Ended 31 December 2024
1. Accounting Policies
The accounts have been prepared on the receipts and payments basis so no accruals have been made. The accounts comply with the organisation’s governing document, UK Generally Accepted Accounting Principles and the Charities Act 2011 in so far as they apply to the charity and its Trustees’ Report & Accounts.
The trustees confirm, in accordance with The Charitable Incorporated Organisations (General) Regulations 2012, that at year ended 31 December 202 CMAC did not have any outstanding guarantees to third parties nor any debts secured on assets of the organisation.
The charity’s trustees are responsible for the preparation of the accounts. The charity’s trustees consider that an audit is not required for this period under Section 144 of the Charities Act 2011.
2. SOFA Comparatives
| OFA Comparatives | |||
|---|---|---|---|
| Unrestricted | Restricted | Total | |
| Year Ended | Year Ended | Year Ended | |
| 2023 | 2023 | 2023 | |
| Income | |||
| Donations & grants | 12,725 | 23,500 | 36,225 |
| Total Income | 12,725 | 23,500 | 36,225 |
| Expenditure | |||
| Charitable activities | |||
| Contributions to supporting charities | 10,500 | 10,500 | |
| Staff costs | 26,098 | 26,098 | |
| Other direct costs | 41 | 1,162 | 1,203 |
| Total expenditure | 41 | 37,760 | 37,801 |
| Net income for the year | 12,684 | (14,260) | (1,576) |
| Funds brought forward | 9,266 | 25,770 | 35,036 |
| Total funds carried forward | 21,950 | 11,510 | 33,460 |
3. Tax reclaim
CMAC has chosen to show accounts on a receipts & payments basis, therefore an accrual for the gift aid claim to be submitted by CMAC in relation to 2024 income of £1,301.62 (2023: £604.25) has not been made.
4. Salary and Office Expenses 2023
The final salary and HMRC payments in the amount of £4,218.88 were made on the 30[th] of December 2023 as evidenced by bank payment confirmations. However, the bank did not lodge these in the account until the 2[nd] of January. From the charity’s perspective and in order to ensure that numbers remain comparable, the charity has recorded these expenses in the 2023 year to which they relate and in which they were paid. NEST did not take its payment of £186.67 until the 5[th] of January. New laptops and headphones for the team as well as stamps and an invoice for its web domain were all purchased by the centre manager in August and September 23 and used then. However, the expense claim of £1,162.46 was not lodged and paid until the 19[th] of
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CHISWICK MONEY ADVICE CENTRE
REPORT & ACCOUNTS 2024
NOTES TO THE ACCOUNTS For the Year Ended 31 December 2024
January 2024. These were accrued in 2023 as they were considered owned by the charity when they were purchased.
- Unrestricted Donations & Grants Breakdown
| Year Ended | Year Ended | |||
|---|---|---|---|---|
| 31 December 2024 | 31 December 2023 | |||
| Donations | £ 6,009 | £ 4,393 | ||
| Gift Aid | £ 610 | £ 740 | ||
| Welcare Grant (Hounslow Diocese) | a | £ - | a | £ 2,500 |
| Masonic Lodge | £ 750 | £ - | ||
| St Michael’s All Angels, Chiswick | b | £ 12,106 | b | £ 5,092 |
| Total Donations & Grants | £ 19,475 | £ 12,725 |
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a. Welcare is a finite amount of money set aside by the Hounslow Diocese for projects in the area. This funding is slowly coming to an end and is likely to cease shortly.
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b. St Michael’s All Angels is a local church which has chosen CMAC as one of its charity partners for a 3 year period to benefit from fundraising efforts that it carries out throughout the year. This funding is variable depending on the success of the events and is received at the end of the year.
We are thankful to both of these organisations for their support of the charity. The stability that this has given us is immense.
6. Restricted Funding
| estricted Funding | |||
|---|---|---|---|
| Year Ended | Year Ended | ||
| 31 December 2024 | 31 December 2023 | ||
| Crosslight Hammersmith – Trust for | a | £ 26,250 | £ 15,000 |
| London Grant | |||
| Crosslight Advice – Hounslow Council | b | £ 22,000 | |
| Grant 2024 | |||
| Crosslight Advice – Hounslow Council | c | £ 8,500 | |
| Grant 2023-24 | |||
| Total Donations & Grants | £ 48,250 | £ 23,500 |
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a. A three-year grant has been awarded to our sister charity Crosslight Hammersmith (St Paul’s Money Advice Centre) from Trust for London for salary costs of key centre staff including those of the Crosslight Chiswick branch. The funding of Crosslight Chiswick staff was included as part of this application because the two centres work closely together. All restricted funding comes from Trust for London through Crosslight Hammersmith.
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b. Crosslight Advice was awarded a grant from Hounslow Council for work done in the Hounslow borough by itself and two of its branches including Crosslight Chiswick in 2024. The grant period for this grant was from 31 March 2024 to 31 December 2024.
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c. Due to the success of its partnership with Hounslow Council, Hounslow Council awarded a further grant to Crosslight Advice and its branches for the period 18 February 2023 to 31 March 2024. Crosslight Chiswick received the funding through Crosslight Advice for this in December 2022 and September 2023.
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