Charity Number. 1200532 Trustees Report and Financial Statements For the year ended 31 December 2025 Money Advice St Neots Charitable Incorporated Organisation
Money Advice St Neots Contents Page Trustees, annual report Independent Examiner report Statement of financial activities Balance Sheet Notes to the financial statements
Money Advice St Neots Trustees, annual report About Money Advice St Neots Money Advi St Neots was set up to provide relief of financial hardship through the provision of debt counselling and other money advice services free of charge to people in St Neots and the surrounding area. Money Advi St Neots works with and is supervised by the national charity Communty Money Advice (Charity number 1111436) to provide the debt advice servi. Money Advice St Neots is authorised and regulated by the Financial Conduct Authority (Registration number 809318). The Gharity was set up on 5 August 2022 and was incorporated on 29 September 2022. The correspondence address is Highfield House, Drewels Lane, Eynesbury Hardwicke. St Neots. Cambridgeshire, PE19 6XW. Reference and administrative infomiation Money Advice St Neots is a tharitable incorporated organisalion, CIO (charity number 1200532). The trustees vtho have served through the year of this report are.. Mr Jonathan Tame- Chairman Dr Alan Mccormick Mrs Kathryn Pickering - Treasurer Mrs Jacqulyn Isaac Mr Philip Chamberlain (appointed 15 October 2025) Bankers: Co-operative Bank Business, PO Box 250, Skelmersdale, WN8 61A Independent examiner.. Mrs Jessica Jones Structure. Governance and Management Money Advi St Neots is a CIO (Charitable incorporated organisation) and is registered with the Charity Commission of England. The meth¢Jd of appointment of the trustees is set OLrt in the statutes. The governing document is in the fomi of a Constitution, adopted 5 August 2022. Aims and objectives The objectives are set out formally in our constitLrtional document.. 'The relief of financial hardship for the public benefit by churches in St Neots through the provision of debt counselling and other money advice services free of charge to people in St Neots and the surrounding area which they would otherwise not be able to afford through lack of means." Our aim is to help people to get OLrt of debt and to live a debt free lrfe. We want to see anyone struggling with debt to work towards a good outcome so they are able to manage or clear their debts. We also want people we have supported to manage their rnoney more effectively, maximising their income options and minimising their spending so they are enabled to prioritise how they spend their money.
Money Advice St Neots Public Benefit statsment Money Advice St Neots offers free debt advice and budgeting coaching for all vtho seek our help. The trustees have had due regard to the Charity Commission's guidan on public benefrt and we do not discnminate or judge when meeting and assisting clients. Anyone from outside of our local area would not be denied help, but where appropriate would be signposted to another similar organisation closer to them. Activities and performance of the organisation As of 31 December 2023, Money Advice St Neots was fijnding and supporting Love's Farm Community Money Advice, which had been set up by Love's Fam Comrnunity Church in 2018. On 2 January 2024 the name registered with the FCA was changed from Love's Farm Community Money Advi to Money Advice St Neots and the charity took over full management of the debt advi Servi and budgeting coaching. We have had three paid members of staff doing debt advi. one of whom is also the ntre manager. During 2025, we took on an administrator who is a contrartor and helps to assist the team with the level of administrative work. We have three artive volunteer advisers as well. All our team have also received training in budget coaching and we are trying to encourage clients seeking debt advi to also re1ve budget coaching. We are looking at ways to run more budget coaching courses or workshops. One of our debt advisers attends three of the foodbanks in St Neots during the week and provides dropin advi seNice for foodbank users. On Thursday. run a veklY drop in Servi at Citizen Hub in St Neots. The Trustees meet four times a year. The Trustees are mindful of the need for an awareness of Safeguarding in our work. This indudes training our personnel to follow best practi in their own Conduct as well as to be aware of potential issues in the lives of dients who may be vulnerable adults, or in the lives of children in their family. Jacqulyn Isaac is the Trustee Responsible for Safeguarding and the Designated Person for Safeguarding (DPS). No safeguarding concems were raised during the year. Financial review During this year, donations to the charFty were sufficient to cover all its expenses and to leave enough reserves to ensure that the reserves satisfied the reserves policy. The Gharty's income for the year was £77,397 (2024: £46,595) and expenses came to £55.234 {2024. £49.229). The balan of funds at 31 December 2025 was £30,357 {2024.' £8,194), with £11,220 {2024'. £4,691 } being restricted funds. Reserves policy It is the trustees reserves policy to maintain a balance on unrestricted funds, which equates to at least three months unrestricted payments. equivalent to £13,088. to cover emergency situations that may arise from time to time. The balance of £19,137 held on unrestricted funds, after designations. at the year end is more than the reserves policy but only four months of payments so not significantly higher. The balan of £11,220 in the restricted funds is made up of £8,720, being the balance carried forward from the St Neots foodbank funding for the Financial Inclusions Project and £2,500 balance remaining from the St Neots Town Council funding for the Citizen Hub Project.
Money Advice St Neots Going concern statement The trustees have assessed whether the use of the going concem basis is appropriate and have considered possible events or conditions that might cast significant doubt on the ability of the charity to continue as a going concem. The trustees have made this assessment for a period of al least one year from the date of approval of the financial statements. In particular, the trustees have Gonsidered the charity's forecasts and projections and have a reasonable expectation that the charity has adequate resources to continue its activities for the foreseeable future. Accordingly, the charty continues to adopt the going cOnM basis in preparing the financial statements. Audit exemption statement Due to the gross income being less than £1million arid since the gross assets are less than £3.26million, the charity is exempt from needing an audit. The trustees have chosen an independent examination to be carried out. since the gross income is over £25,000. Statement of responsibilities of the Trustees The Charities Act 2011 requires the trustees to prepa financial statements for each financial period which give a true and fair view of the state of affaits of the charity and of the incoming resources and application of resources of the charity for that period. In preparing these financial statements, the trustees are required to.. select suitable accounling policies and apply them consistently., obseNe thè methods and principles in the Charities SORP 2005-, make judgments and accounting estimates that are reasonable and prudent., state whether applicable accounting standards have been followed, subject to any material departures disc105ed and explained in the financial Statements", and prepare the financial statements on the going concem basis unless it is inappropriate to do so. The trustees are responsible for keeping sufficient accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial sLements comply with the Charities Act 2011. They are also responsible for safeguarding the assets of the charity and hen for taking reasonable steps for the prevention and deteGtion of fraud and other irregularities. Approved by the trustees on 11..l.o126 and signed on its behalf by Jonathan Tame (Chainnan of the TTUStees)
Money Advice St Neots Independent Examiner's report Registered CIO1200532 I report to the charity trustees on my examination of the accounts of Money Advice St Neots (the CIO) for the year ended 31 December 2025. Responsibilities and basis of report As the charity trustees of the CIO you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 20111'the Act'l. I report in respect of my examination of the CIO'S accounts carried out under section 145 of the Act. In carrying out my examination I have followed all applicable Directions given by the Charity Commission under section 14515llbl of the 2011 Act. Independent examinerfs statement- no matters of concern identified I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect: accounting records were not kept as required by section 130 of the Act: or the accounts do not accord with those records,. or the accounts did not comply with the applicable requirements concerning the form and content of accounts Set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement 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 across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. Signed: 1 Name.. Jessica lones Relevant professional qualificationlsl or membership.. ICAEW member 9249011 Address.. 6 South Road. Amer5ham, Bucks., HP6 5LX Date..
Money Advice St Neots Statement of financial activities For the year ended 31 December 2025 2025 Total 2024 Total Unrestrlcted Restrlcted Income Donations Grant income Gift aid Help fund giving Interest 24,473 13,450 147 185 142 24,473 52,450 147 185 142 6,150 38,570 100 1,775 39,000 Total income 38.397 39,000 77.397 46,595 Expenditure Salaries and other related costs Community Money Advice affiliation Training Room hire ICO data protection fee Slalionery and postage Telephone Website and IT costs Advertising Travel CMA conference Insolvency fees DBS checks Credit reports Help fund Gffts and subsistence Insuran Bank charges 14,506 1.500 350 2,400 47 701 340 923 248 524 60 32,446 46,952 1,500 375 2,400 47 701 340 923 248 524 60 42,577 1,250 360 221 35 611 40 219 416 272 615 225 202 100 1,556 37 493 25 227 140 235 55 506 227 140 235 55 SC Total expenditure 22,763 32,471 55,234 49,229 Net {outgoingVincoming resources beforo transfors 15,634 6,529 22,163 (2,634) Transfers between funds Net movement in funds 15.634 6.529 22.163 12,634) Funds carried forward at 1 January 2025 3,503 4,691 8,194 10.828 Funds carried forward at 31 Dember 2025 19,137 11,220 30,357 8,194 All amounts relate to continuing activities
Money Advice St Neots Balance Sheet as at 31 December 2025 2025 2024 Notes Current assets Cash at bank and in hand 31,290 9,075 Total current assets 31,290 9,075 Liabilities - amounts falling due within one year 933 Net current assets 30,357 8.194 Net assots 30,357 8,194 Funds Unrostrictsd 19.137 3,503 Restricted 11,220 4,691 30,357 8,194 Approved by the trustees on and signed on its behalf by Jonathan Tame (Chairman of the trustees)
Money Advice St Neots Notes to the financial statements Accounting policies These financial statements of the charity have been prepared on a going concern basis and on behalf of the trustees in accordan with the Accounting and Reporting by Charities - Statement of Recommended Practice SORP (2005) together with applicable accounts'ng standards and the Charities Act. They have been prepared under the historical cost convention. Incoming Resources Recognition of incoming resources These are included in the Statement of Financial ActNlties (SOFA) when: the charity becomes entitled to the resources the trustees are virtually certain they will receive the resOurS-, and the monetary value Gan be measured with sufficient reliability. Grants and donations Grants and donations are only included on the SOFA when the charity has unconditional entitlement to the reSoUrs. Volunteer help The value of any voluntary help reiVed is not included in the accounts but is described in the trustees, annual report. Expenditure and Liabilities Liability recognition Liabilities are recognised as soon as there is legal or Gonstructive obligation Gommitting the charity to pay out resources. Govemance costs Include costs of the preparation and examination of statutory accounts, the costs of trustee meetings and cost of any legal advice to trustees on governance or constitutional matters. Support costs Support costs include central functions and have been allocated to activty cost categories on a basis consistent with the use of resources. e.g. allocating property costs by floor areas, or per capita, staff costs by the time spent and other costs by their usage. Assets Tangible fixed assets for use by the charity These are capitalised if they can be used for more than one period, and cost at least £500. They are valued at cost or, rf gifted, at the value to the charity on receipt. Unrestricted funds represent the funds of the CIO that are not subject to any restrictions regarding their use and are available for application on the general purposes of the CIO. Restricted funds represent those received for speciFIG purposes as SFecified by the donors. Endowment funds are those where there is a requirement imposed by the donor to taIn capital, but which allow income to be used.
Money Advice St Neots Notes to the financial statements Governance costs There were no govemance related Gosts in the current peri¢Jd. Employee remuneration Average staff numbers in year to 31 December 2025 were 3 (2024.. 3) with remuneration totalling £44.328 {2024.' £41,712). This includes £16,881 (2024.. £19,968) for one of the trustees vtho was paid for the work as the ntre manager and debt adviser. Crnditoryts 2025 2024 HMRC PAYE & NIC Accrual for expenses relating to 2024 Rent paid in January for December 2025 733 810 71 200 933 881 Restricted Funds Balance at Incoming Resources Balance at 31 1 January resources expended Dècember 2025 2025 Trussell Trust St Neots F¢)odbank St Neots Town Council Huntingdonshire DistriGt Council 4,666 14,000 15,000 10,000 {18.666) (6,280) (7,500) (25) 8,720 2,500 25 4,691 39,000 (32,471) 11,220 In 2025, £14.000 (2024.. £27,570) was received from the Trussell Trust for Money Advice St Neots for wages and other running costs. The money was used in the year. In 2025, £15,000 was received from St Neots Foodbank towards the financial inclusions project, which Mast participates in at the foodbanks in St Neots. £8,720 was Caled forward to 2026. In 2025, £10.000 was received from St Neots Town Coun¢il towards wages and running costs for the CitÉzen Hub drop in service project and £2,500 was carried fomard to 2026. The £25 carried forward from money r1Ved from Huntingdonshire District Council tovmrds training was used in the year. Grants Four unrestricted grants were reiVed in the year totalling £13.450 (2024.. £0). Details of restricted grants can be found in note 5.
Money Advice St Neots Notes to the financial statements Related party transaclions During the period, one Trustee was paid £16,881 (2024". £19,968) for their Yrk as the debt advice centre manager and debt adviser. One Trustee received expenses reimbursed of £205 (2024.. £442).