ADVICE South Tyneside ANNUAL REPORT 2023-2024 ## **Introduction** Our communities told us that people were struggling to manage their everyday finances, debt was increasing and their mental health was being affected. Durham Diocese and Jarrow Parish helped us set up a pilot project in 2022 working with Community Money Advice (CMA), a national charity regulated by the Financial Conduct Authority providing debt advisers, training and support for local groups like ours. In our first year we have helped over 90 people in South Tyneside with information, advice and benefit support, manage £392,563 of debt. Our team are all trained mental health first aiders providing additional support and helping keep everyone safe. We have set up a standalone charity to continue this work, as demand increases for support with benefit applications, financial and debt management. We want to run this project long term and will be exploring ways to fund the project, setting up partnership work and joint funding to keep the service available. We have regular drop ins in Jarrow and Simonside and receive referrals from 6 other agencies. We will continue to make contact with other groups, and use social media, leaflets and local networks to promote our service. Money Advice South Tyneside ## **Our Aims & Objectives** _“I can now focus on my future instead of worrying about my debt”_ The object of the CIO is to provide support of the relief of financial hardship in South Tyneside and neighbouring areas by providing a range of impartial money advice and support services to people in financial hardship, including those in debt, who though lack of means would be otherwise unable to obtain such advice. Money Advice South Tyneside ## **Our Priorities** ## **THE RELIEF OF HARD SHIP** To work with our clients to find solutions to their money worries, providing support with maximising income and managing spend. ## **PROVIDE IMPARTIAL ADVICE & GUIDANCE** We will give impartial advice and guidance which is confidential. We will refer to other organisations, building partnerships to enable our organisations and others we work with to support communities within South Tyneside the best way possible. ## **FINANCIAL EDUCATION** We aim to educate our clients on the best ways to maximise income, manage household budgets and remain debt free. Money Advice South Tyneside ## **Measuring Progress** **----- Start of picture text -----**
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Money Advice South Tyneside
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## **Achievements &** ## **Performance** Community Money Advice (CMA) is a national charity committed to supporting churches and community groups who have a passion to help people overcome their money problems. CMA provides all the resources, training and support needed to establish and maintain local, free, face to face money advice services. Money Advice South Tyneside (MAST) operates a Community Money Advice Connect Centre. The centre was started in May 2022 as a partnership project between the Parish of Jarrow and Simonside and Communities Together Durham (CTD), working alongside South Tyneside Borough Council and other local community and voluntary groups to complement and enhance services already available in the local area. The original project, ‘Free help with Debt’ was fully funded through with a single grant administered by CTD for a two year period. A project steering group was established, and once the service was established it was agreed that an in independent, locally governed, charitable incorporated organisation would be the most appropriate structure for the future, and MAST was registered in November 2023. The original grant was administered through CTD until it came to an end in June 2024. The project is staffed by two advisers (project managers) seconded from CTD, and specialist debt advice is provided by the CMA hub. During the reporting period, over 150 people have received support through the project, including initial advice on managing their finances, access to the Household Support Fund, referrals to local foodbanks and other agencies. Support from the CMA hub has been accessed for 41 clients and the total debt involved is over £500,000. Often the sums involved are relatively small (typically around £6-7,000) but the impact on the lives of people in some of the most deprived areas in the UK is significant and help to bring the situation under control cam be life changing. During the year, CMA carried out a routine audit of MAST to confirm the centre was compliant with all the appropriate regulatory requirements, and everything was found to be satisfactory. In addition to updating training, the two staff members attended the CMA national conference, updating their knowledge of current developments in the sector and learning from the experience of peers in other settings. Over the coming 12 months MAST will be seeking more secure longer term funding to continue the established services and build capacity to respond to continuing economic challenges for local families. We plan to recruit and train volunteers to support our work and extend the services we offer more widely through the borough. Money Advice South Tyneside ## **Case Studies** **Client A** came to us as she needed support with a small amount of debt she had. She is a single parent with 2 children and had a difficult relationship with her ex-partner. He wasn’t forthcoming with giving her money for their children, so she was finding it difficult to manage monthly costs. The debt she had was only a small amount, but she was struggling and finding it hard to manage. It was affecting her mental and she just couldn’t get on top of things. We arranged for some extra financial support from the Household Support Fund, to help her whilst we worked with her to find a solution. After we had gathered all her information, it was identified that a DRO would be beneficial, we supported her throughout the process and she had her DRO granted. She explained that it was a weight lifted of her mind and that she was grateful for the support she had received. **Client B** was referred by STARS after identifying that she had a number of debts she was unable to manage. She was recovering from alcohol and drug problems, had a daughter who she was having a difficult time with and was generally struggling to cope. She had previously been to rehab for her addictions problems and came out to debt which had been accrued by other family members in her name. She wanted to find an alternative accommodation, but this was proving difficult as she had rent arrears, which were accrued due to a family member living in her house and not paying bills when she was in rehab. After gathering all the information and contacting creditors, we were able to resolve the issues with a DRO. The client was relieved when this had been accepted as she could now move on with her life and put her past behind her. She is determined to remain drug and alcohol free, and we have since supported her with accessing the housing register so she can start to bid on social housing properties to make her rent more affordable. **Client C** came to use as she had previously submitted a PIP application but was refused, we supported her application for a reconsideration. Unfortunately, this was again refused. The client was determined, and she had genuine needs which she needed support with and should have been successful in receiving PIP. Again, we supported her in writing her appeal letter, she attended court and was successful in gaining PIP. She was then able to relax and not worry financially whilst she worked on improving her lifestyle to eventually try and get back into work. Money Advice South Tyneside ## **Statement of Financial Activities** ||**Unrestricted**
**Funds**|**Restricted**
**Funds**|**Total Funds 06.11.23 -**
**31.12.24**| |---|---|---|---| |**Incoming Resources**|||| |Donation|£194|0|£194| |Charitable Activities|0||0| |Other incoming resources|£34,094|0|£34,094| |**Total Incoming Resources**|**£34,288**|**0**|**£34,288**| ||||| |**Resources Expended**|||| |Generation on voluntary income|0|0|0| |Charitable Activities|£20,886|0|£20,886| |Governance Costs|£72|0|£72| |Other Resources Expended|0|0|0| |**Total Resources Expended**|**£20,958**|0|**£20,958**| ||||| |**Net income/(expenditure) for the year**|**£13,330**|0|**£13,330**| ||||| |**Reconciliation of Funds**|||| |Total Funds Brought Forward|0|0|0| |Net movement in funds throughout
year|£13,330|0|£13,330| ||||| |Total funds carried forward|**£13,330**|0|**£13,330**| Money Advice South Tyneside ## **Acknowledgements** We would like to thank all of the organisations who have supported us this past year. Money Advice South Tyneside Money Advice South Tyneside Report and Financial Statements for the period 6 November 2023- 31 December 2024 Charitable Incorporated Organisation Charity number 1205586 Money Advice South Tyneside Report and Financial Statements for the period 6 November 2023 - 31 December 2024 Contents Pages Directors, and Trustees, Report Independent Examinerfs Report Statement of Financial Activities Balance Sheet Notes to the Financial Statements 9-11 Money Advice South Tyne5ide Directors and Trustees Annual Report for the period 6 November 2023- 31 December 2024 Reference and administration details Money Advice South Tyneside 1205586 Charity name.. Registered charity number Registered office address Perth Green Community Aswciation Inverness Road JARROW Tyne And Weal NE32 4AQ The trustees who served during the period and up to the dale of this report are.. Rev sheila Bamber appointed 6 November 2023 for l year; reappointed November 2024 for I year appointed 17 April 2024 for l year appointed 6 November 2023 for 3 years appointed 6 November 2023 for 3 years appointed 6 November 2023 for 2 years Carol Cowan Oi3ne Jamieson Rev Lesley Jones Alan Moodv Independent Examiner Mr J l Henderson 1 SilvÈrdale Way Whickham Newcastle upon Tyne NE16 55L Structure, governance and management Money Advice South Tyneside is a Charitable Incorporated Organisation. set up and registered with the Charity Commission on 6 November 2023. rhe trustees meet every 4-6 wèeks. meeting 11 timÈs over the reporting period. The CIO took over the work of'Free Help with Debt.. 3 project run by Communities Together Durham. Trustees, the majority of whom were steering group members for the oiiginal project, met regularly to ensure an orderly transition, which was completed in lune 2024. Staff appc>intÈd to the project were gecondeil into MAST. ani5 ivill l)e traiislerred to the CIO once there is 12 month5 fiinding in place. The first accounting period is for the 14 month period from registration to 31 December 2024. Objectives and activities The object of the CIO is to provide support of the relief of financial hardship in South Tyneside and neighbouring areas by providing a range of impartial money advice and support services to peDple in financial hardship, including those in debt. who though lack of means would be otherwise ijnable to obtain such advice. The trustees have had regard to the guidance issued by ihe Charity Commission on public benefit. Achlevements and performance Community Money Advice ICMAI is a national charity committed to supporting churche5 and community groups who have a passion to help people overcome their money problems. CMA prDvide$ 811 the reSoUr￿s, training and support needed to establish and maintsin lo¢al, free, face to face money advice services. Money Advice South Tyneside IMASTI operates a Communtiy Money Advice Connect Centre. The centre was started in May 2022 as a Partnership projÈtt bètwèèn the Parish of larrow and Simonside and Communities Together Durham ICTDI, working alongside South Tyneside Borough Council and other local community and voluntary groups to tomplemenl and enhance services already available in the local area. The original project, 'Free help with Debt. was fully funded through with a single grant administered by CTD for a two year period. A project steering group was established. and once the service was established it was agreed that an in independent, locally Éoverned. charitable incorporated organisation would be the most appropriate structure for thè future, and MAST was registered in November 2023. The original grant was administered through CTD until it came to an ènd in June 2024. The project is staffed by two advisers Iproject managers) seconded from CTD, and specialist debt advice is provided by the CMA hub. DurinE the reporting period, ovÈr 150 people have received support through the project, including initi313dvice on managing their finances, access to the Household Support Fund. refeirals to local foodbanks and other agencie5. Support from the CMA hub has been accessed for 41 clients and the total debt involved 15 over £500,0(K). Often the sum5 involved are relatively small (typically around £G- 7,0001 but the impact on the lives of people in some of the most deprived areas in the UK is significant and help to bring the situation under control can be life changing. During the year, CMA carried out a routine audit of MAST to confirm the centre was compliant with all the appropriate regulatory requirements, and everythinE was found to be satisfactory. In addition to updating training, the two staff members attended the CMA national conference. updating their knDwledge of current developments in the sector and learning from the expÈrience of peers In other settings. Over the coming 12 months MAST will be seeking more Secure longer term funding io continue the established services and build capacity to respond to continuing economic challenges for local famllies. We plan to recruit and train vc>lunteers to support our work and exlend the services we offer more widely through the borough. Financlal performance Fundraising has been the highest priority during the past yèar and the securing of further grants and Income to cot)tinue the project remains 3 concern. At the end of January 2025 thère are SLJfficient resources in h3nd to maintain operations for three months and we arÈ actively seeking secuie funding lor 12-24 months operating costs. Trustees, re5pon5ibilities in respert of the financial statements Charity Law requires the trusteès to prepare financièl statemer)ts for Èach financial year. which give a true and fair view of the state of affairs of the charity at the year end and of the net incomingloutgoing resource5 of the charity for the year then ending. In preparing these financial statements the trustees are required to 5elett suitable accounting policies; make judgements and estimzies that are reasonable and prudent- stare whether applicable accounting standards have been followed. subject to any material departLires disc105ed and explained in the financièl slatement5'. prepare financial statements on a going concern basis unless it is inappropriate to assume thai the charity will continue on that ba515. The trustees are responsible for keeping proper accounting records which disclose with reasonable 3ccuracy at any time the financial position of the charity and to enable it to ensure thal the financial statements comply with the Charities Act 2011. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the preverhtion and oeteclion of fraud and other irregularities. This report was approved by the trustees on 23 January 2025 and signed on their behalf by Rev Lesley Jones Chair of Trustees Independent Examiner's Report on the Accounts Report to the Trustees of Money Advice Souih Tyneside on the accounts for the period 6 November 2023 to 31 December 2024 set out on pages 7 to 11 Respective responsibllities of trustees and examiner The charity's trustees are responsible for the preparation of the accounts. The charity's tiustee5 consider that an auclit 15 not required for this year under section 144 of the Charitie5 Act 2011 (the Charities Act) and that an independent examinaiion is needed. It is my responsibility lo.. examine the accounts under section 145 of the Charities Act, to follow the procedures laid down in the general Directions given by the Charity Commission lunder section 14515llbl of the Charitie5 Act), and to state whether particular matte[5 have come to my attention. Basis of independent examinerfs statement My examination was carried out in accordance with general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and 3 compar15on of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from the trustees concerning any such matter5. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the account5 present a 'true and fairf vieiv and the report is limited to those matters sèt OLJt in the statement below. Independent examlnerfs statement In connection with my examination, no matter has come to my attention.- 111 which gives me reasonable cause to believe that, in any material respect. the requirements.. To keep accounting recDrds in accordance with seclion 130 of the Charities Act,. and To prepare accounts which accord with the accounting records and comply with the accounting reqvirements of the Charities Act have not been met,. or 121 to which, in my opinion. altention should be drawn in order to enable a proper understanding of the accounts to be reached. Signed Date 10 February 2025 Name Mr I l Hendersoi) FCA Address I Silverdale Wav Whickham NE16 SSL Money Advice South Tyneside Statement of Financial Activities {incorporating an Income and Expenditure Account) for the period 6 November 2023 to 31 December 2024 Note Unrestricted Funds Restricted Total Funds Funds 6.11.23- 31.12.24 Incoming resource5 t)onation Charitable activities Other incomin8 resources Totol incoming resources 194 194 34,094 34,094 Re50ur¢es expended Generation of voluitary income Charitable Activities Governance c05t5 Other resources expended Tot£Tlresources expended 20,886 72 20,886 72 Net Incomellempenditurel for the year Reconciliatlon of funds Total funds brought foi¥vard Net movement in funds throughout year Totolfiinds corriedforward All the charity s operations are classed as continuing and recognised gains and losses and movement on reserves are shown above. The notes on pages 8 to 11 form part of these accounts. Money Advice South Tyneside Balance Sheet as at 31 December 2024 Note Total Funds 31.12.24 Current A55eis Debtors Cash at bank and in hand 33.117 rotal current ossets 33.117 Creditors.. amounts falling due within one year Net current ossets 13,330 Totalossetsle55 current liobilities 13.330 Nett15sets The lunds of the charlty Regiricted income lunds Unrestricted income fund5 13,330 Total chorityfvnds Signed on behalf of the TrusteÈs Rev Lesley Jones Director and Trustee Date 23 January 2025 Money Advice South Tyneside Notes to the Financial Statements for the period 6 November 2023 to 31 December 2024 Note l.. Basls of preparatlon These accounts have been prepared on the basis of historic cost (except that investments are shown at market valuel in accordance with the Financial Reporting Standard 102 IFR51021 as applicable to ChaTlties leffective January 20161 compiising the Statement of Recommended Practice Accounting and ReporLing by charities I"SORP 2015°1- Note 2: Accounting poll¢les Iniomlng resource5 2.1.1 Recognition of incoming resources These are included in the Statement of Financial Activities {SoFAI when.. The charity becomes entitled to the resource The trustees are virtually certain they will receive the resources and the monetary value can be measured with sufficient reliability. 2.1.2 Incoming resources with related expenditure Where incoming resources have related expenditure las with fundraising or contract income) the incoming resources and related expenditure are reported gross in the SOFA. 2.1.3 Grants and donations Grants and donation5 are only included in the SOFA when the charity has unconditional entitlement to the resources. 2.1.4 Tax retlaim5 on donations and gifts Incoming resources from tax reclaims are included in the SOFA at the same time a5 the gift to whith they relate. 2.1.S Contractual income and performance related grants This 15 only included in the SOFA once the related goods or service5 have been delivered. 2.1.6 Gifts in kind Gifts in kind are accounted for at a ieasonable estimate of their value to the charity or the amount actually realised. Gifts in kind for s31e or distiibution are included in the account$ 2s gift5 only when sold or distrikiuted by the charity. Gifts in kind for use by the charity are included in the SOFA as incoming resources when reteivable. 2.1.7 Donated services and facilitie5 These are only included in incoming resources Iwith an equivalent amount in resources expendedl where the benefit to the charity is reawnably quantifiable, rneasureable and material. The value placed on these resources 15 the estimated value to the charity of the Service or facility received. 2.1.8 Volunteer help Tlie value of aiy vollintary help received 15 liot iiicluded in the accoiints biit is described iii the trJstee5' annual report. 2.1.9 Investment incorne This is included in the accounts when receivable. Expenditure and liabillties 2.2.1 Liability recognition Liabilities are recognised as soon as there is a legal or conslyuctive obligatic>n committing the charity to pay out resources. 2.2.2 Governance costs Include cost5 of the preparation and eKamination of statutory accounts, the costs of trustee meetings and costs of any legal advice to trustee5 on 8oveinance or constitutignal matters. 2.2.3 Support costs Support costs include central functions and have been allocated to acttvity cost categories on bèsis consislent with the use of resources. Assets 2.3.1 Tangible fixed assets foT use by charity These are capitalised if they can be used for moTe than one year and cost at least £1,000. They are valued at cost or, if gifted, at the value to the charity on receipt. Note 3 Analysls of incomlng resour¢es Unrestricted Re5tiicled Total 6.11.23 - 31.12.24 Voluntary Income IDonation5} 194 194 Activitie5 for generating funds Other incomlng resource Grant- National Lottery Mairb grants Barbour Trust Greatham Hospital Dogger Bank Offshore Fund Albert Hunt SP Other- repayment of Council Tax 20,000 10,000 1,000 94 34.094 34,094 Total incomlng resource5 io I Note 4 Analysis of resources expended Unrestrirted Restricted Total 6.11.23 - 31.12.24 Charitable activitles Staff c05ts Travel and subsistence Adminislr3tion Staff training Marketing materials Activities Misc 17,793 396 1,695 300 400 234 68 17.793 396 1,695 300 4( 234 68 Governance Costs 72 72 Total resources expended Note S Detai15 of certaSn Items of expenditure Trustee expenses No Trustees claimed expenses during the accounting period. Fees for the examination of the accounts 31.12.24 Independènt examinerfs fees for reporling on the accounts Note 6 Paid employee5 At the end of the year part-time two members of staff were employed by Communities Together Durham ICTDI and secoTrnded to the project. These were remunerated at £30,507 per annum IFTE, including pension contributions). Note 7 Debtors and prepayments: there were no debtors or prepayments at 31 December 2024. Note S Creditors and accruals Analysis of creditors Aii)oiints falling due witliin one year At31.12.24 Reimbursements to cfD Note 9 Transactions and related partle5- there were no transartions with related parties during the year. Note 10 Liabllity of Members If the CIO is wound up, the mèmbers of the CIO have no liability to contribute lo its asset5 and nc> person31 responsibility lor settling its dei)ts and liabilities. Money Advice South Tyneside Report and Financial Statements for the period 6 November 2023- 31 December 2024 Charitable Incorporated Organisation Charity number 1205586 Money Advice South Tyneside Report and Financial Statements for the period 6 November 2023 - 31 December 2024 Contents Pages Directors, and Trustees, Report Independent Examinerfs Report Statement of Financial Activities Balance Sheet Notes to the Financial Statements 9-11 Money Advice South Tyne5ide Directors and Trustees Annual Report for the period 6 November 2023- 31 December 2024 Reference and administration details Money Advice South Tyneside 1205586 Charity name.. Registered charity number Registered office address Perth Green Community Aswciation Inverness Road JARROW Tyne And Weal NE32 4AQ The trustees who served during the period and up to the dale of this report are.. Rev sheila Bamber appointed 6 November 2023 for l year; reappointed November 2024 for I year appointed 17 April 2024 for l year appointed 6 November 2023 for 3 years appointed 6 November 2023 for 3 years appointed 6 November 2023 for 2 years Carol Cowan Oi3ne Jamieson Rev Lesley Jones Alan Moodv Independent Examiner Mr J l Henderson 1 SilvÈrdale Way Whickham Newcastle upon Tyne NE16 55L Structure, governance and management Money Advice South Tyneside is a Charitable Incorporated Organisation. set up and registered with the Charity Commission on 6 November 2023. rhe trustees meet every 4-6 wèeks. meeting 11 timÈs over the reporting period. The CIO took over the work of'Free Help with Debt.. 3 project run by Communities Together Durham. Trustees, the majority of whom were steering group members for the oiiginal project, met regularly to ensure an orderly transition, which was completed in lune 2024. Staff appc>intÈd to the project were gecondeil into MAST. ani5 ivill l)e traiislerred to the CIO once there is 12 month5 fiinding in place. The first accounting period is for the 14 month period from registration to 31 December 2024. Objectives and activities The object of the CIO is to provide support of the relief of financial hardship in South Tyneside and neighbouring areas by providing a range of impartial money advice and support services to peDple in financial hardship, including those in debt. who though lack of means would be otherwise ijnable to obtain such advice. The trustees have had regard to the guidance issued by ihe Charity Commission on public benefit. Achlevements and performance Community Money Advice ICMAI is a national charity committed to supporting churche5 and community groups who have a passion to help people overcome their money problems. CMA prDvide$ 811 the reSoUr￿s, training and support needed to establish and maintsin lo¢al, free, face to face money advice services. Money Advice South Tyneside IMASTI operates a Communtiy Money Advice Connect Centre. The centre was started in May 2022 as a Partnership projÈtt bètwèèn the Parish of larrow and Simonside and Communities Together Durham ICTDI, working alongside South Tyneside Borough Council and other local community and voluntary groups to tomplemenl and enhance services already available in the local area. The original project, 'Free help with Debt. was fully funded through with a single grant administered by CTD for a two year period. A project steering group was established. and once the service was established it was agreed that an in independent, locally Éoverned. charitable incorporated organisation would be the most appropriate structure for thè future, and MAST was registered in November 2023. The original grant was administered through CTD until it came to an ènd in June 2024. The project is staffed by two advisers Iproject managers) seconded from CTD, and specialist debt advice is provided by the CMA hub. DurinE the reporting period, ovÈr 150 people have received support through the project, including initi313dvice on managing their finances, access to the Household Support Fund. refeirals to local foodbanks and other agencie5. Support from the CMA hub has been accessed for 41 clients and the total debt involved 15 over £500,0(K). Often the sum5 involved are relatively small (typically around £G- 7,0001 but the impact on the lives of people in some of the most deprived areas in the UK is significant and help to bring the situation under control can be life changing. During the year, CMA carried out a routine audit of MAST to confirm the centre was compliant with all the appropriate regulatory requirements, and everythinE was found to be satisfactory. In addition to updating training, the two staff members attended the CMA national conference. updating their knDwledge of current developments in the sector and learning from the expÈrience of peers In other settings. Over the coming 12 months MAST will be seeking more Secure longer term funding io continue the established services and build capacity to respond to continuing economic challenges for local famllies. We plan to recruit and train vc>lunteers to support our work and exlend the services we offer more widely through the borough. Financlal performance Fundraising has been the highest priority during the past yèar and the securing of further grants and Income to cot)tinue the project remains 3 concern. At the end of January 2025 thère are SLJfficient resources in h3nd to maintain operations for three months and we arÈ actively seeking secuie funding lor 12-24 months operating costs. Trustees, re5pon5ibilities in respert of the financial statements Charity Law requires the trusteès to prepare financièl statemer)ts for Èach financial year. which give a true and fair view of the state of affairs of the charity at the year end and of the net incomingloutgoing resource5 of the charity for the year then ending. In preparing these financial statements the trustees are required to 5elett suitable accounting policies; make judgements and estimzies that are reasonable and prudent- stare whether applicable accounting standards have been followed. subject to any material departLires disc105ed and explained in the financièl slatement5'. prepare financial statements on a going concern basis unless it is inappropriate to assume thai the charity will continue on that ba515. The trustees are responsible for keeping proper accounting records which disclose with reasonable 3ccuracy at any time the financial position of the charity and to enable it to ensure thal the financial statements comply with the Charities Act 2011. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the preverhtion and oeteclion of fraud and other irregularities. This report was approved by the trustees on 23 January 2025 and signed on their behalf by Rev Lesley Jones Chair of Trustees Independent Examiner's Report on the Accounts Report to the Trustees of Money Advice Souih Tyneside on the accounts for the period 6 November 2023 to 31 December 2024 set out on pages 7 to 11 Respective responsibllities of trustees and examiner The charity's trustees are responsible for the preparation of the accounts. The charity's tiustee5 consider that an auclit 15 not required for this year under section 144 of the Charitie5 Act 2011 (the Charities Act) and that an independent examinaiion is needed. It is my responsibility lo.. examine the accounts under section 145 of the Charities Act, to follow the procedures laid down in the general Directions given by the Charity Commission lunder section 14515llbl of the Charitie5 Act), and to state whether particular matte[5 have come to my attention. Basis of independent examinerfs statement My examination was carried out in accordance with general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and 3 compar15on of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from the trustees concerning any such matter5. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the account5 present a 'true and fairf vieiv and the report is limited to those matters sèt OLJt in the statement below. Independent examlnerfs statement In connection with my examination, no matter has come to my attention.- 111 which gives me reasonable cause to believe that, in any material respect. the requirements.. To keep accounting recDrds in accordance with seclion 130 of the Charities Act,. and To prepare accounts which accord with the accounting records and comply with the accounting reqvirements of the Charities Act have not been met,. or 121 to which, in my opinion. altention should be drawn in order to enable a proper understanding of the accounts to be reached. Signed Date 10 February 2025 Name Mr I l Hendersoi) FCA Address I Silverdale Wav Whickham NE16 SSL Money Advice South Tyneside Statement of Financial Activities {incorporating an Income and Expenditure Account) for the period 6 November 2023 to 31 December 2024 Note Unrestricted Funds Restricted Total Funds Funds 6.11.23- 31.12.24 Incoming resource5 t)onation Charitable activities Other incomin8 resources Totol incoming resources 194 194 34,094 34,094 Re50ur¢es expended Generation of voluitary income Charitable Activities Governance c05t5 Other resources expended Tot£Tlresources expended 20,886 72 20,886 72 Net Incomellempenditurel for the year Reconciliatlon of funds Total funds brought foi¥vard Net movement in funds throughout year Totolfiinds corriedforward All the charity s operations are classed as continuing and recognised gains and losses and movement on reserves are shown above. The notes on pages 8 to 11 form part of these accounts. Money Advice South Tyneside Balance Sheet as at 31 December 2024 Note Total Funds 31.12.24 Current A55eis Debtors Cash at bank and in hand 33.117 rotal current ossets 33.117 Creditors.. amounts falling due within one year Net current ossets 13,330 Totalossetsle55 current liobilities 13.330 Nett15sets The lunds of the charlty Regiricted income lunds Unrestricted income fund5 13,330 Total chorityfvnds Signed on behalf of the TrusteÈs Rev Lesley Jones Director and Trustee Date 23 January 2025 Money Advice South Tyneside Notes to the Financial Statements for the period 6 November 2023 to 31 December 2024 Note l.. Basls of preparatlon These accounts have been prepared on the basis of historic cost (except that investments are shown at market valuel in accordance with the Financial Reporting Standard 102 IFR51021 as applicable to ChaTlties leffective January 20161 compiising the Statement of Recommended Practice Accounting and ReporLing by charities I"SORP 2015°1- Note 2: Accounting poll¢les Iniomlng resource5 2.1.1 Recognition of incoming resources These are included in the Statement of Financial Activities {SoFAI when.. The charity becomes entitled to the resource The trustees are virtually certain they will receive the resources and the monetary value can be measured with sufficient reliability. 2.1.2 Incoming resources with related expenditure Where incoming resources have related expenditure las with fundraising or contract income) the incoming resources and related expenditure are reported gross in the SOFA. 2.1.3 Grants and donations Grants and donation5 are only included in the SOFA when the charity has unconditional entitlement to the resources. 2.1.4 Tax retlaim5 on donations and gifts Incoming resources from tax reclaims are included in the SOFA at the same time a5 the gift to whith they relate. 2.1.S Contractual income and performance related grants This 15 only included in the SOFA once the related goods or service5 have been delivered. 2.1.6 Gifts in kind Gifts in kind are accounted for at a ieasonable estimate of their value to the charity or the amount actually realised. Gifts in kind for s31e or distiibution are included in the account$ 2s gift5 only when sold or distrikiuted by the charity. Gifts in kind for use by the charity are included in the SOFA as incoming resources when reteivable. 2.1.7 Donated services and facilitie5 These are only included in incoming resources Iwith an equivalent amount in resources expendedl where the benefit to the charity is reawnably quantifiable, rneasureable and material. The value placed on these resources 15 the estimated value to the charity of the Service or facility received. 2.1.8 Volunteer help Tlie value of aiy vollintary help received 15 liot iiicluded in the accoiints biit is described iii the trJstee5' annual report. 2.1.9 Investment incorne This is included in the accounts when receivable. Expenditure and liabillties 2.2.1 Liability recognition Liabilities are recognised as soon as there is a legal or conslyuctive obligatic>n committing the charity to pay out resources. 2.2.2 Governance costs Include cost5 of the preparation and eKamination of statutory accounts, the costs of trustee meetings and costs of any legal advice to trustee5 on 8oveinance or constitutignal matters. 2.2.3 Support costs Support costs include central functions and have been allocated to acttvity cost categories on bèsis consislent with the use of resources. Assets 2.3.1 Tangible fixed assets foT use by charity These are capitalised if they can be used for moTe than one year and cost at least £1,000. They are valued at cost or, if gifted, at the value to the charity on receipt. Note 3 Analysls of incomlng resour¢es Unrestricted Re5tiicled Total 6.11.23 - 31.12.24 Voluntary Income IDonation5} 194 194 Activitie5 for generating funds Other incomlng resource Grant- National Lottery Mairb grants Barbour Trust Greatham Hospital Dogger Bank Offshore Fund Albert Hunt SP Other- repayment of Council Tax 20,000 10,000 1,000 94 34.094 34,094 Total incomlng resource5 io I Note 4 Analysis of resources expended Unrestrirted Restricted Total 6.11.23 - 31.12.24 Charitable activitles Staff c05ts Travel and subsistence Adminislr3tion Staff training Marketing materials Activities Misc 17,793 396 1,695 300 400 234 68 17.793 396 1,695 300 4( 234 68 Governance Costs 72 72 Total resources expended Note S Detai15 of certaSn Items of expenditure Trustee expenses No Trustees claimed expenses during the accounting period. Fees for the examination of the accounts 31.12.24 Independènt examinerfs fees for reporling on the accounts Note 6 Paid employee5 At the end of the year part-time two members of staff were employed by Communities Together Durham ICTDI and secoTrnded to the project. These were remunerated at £30,507 per annum IFTE, including pension contributions). Note 7 Debtors and prepayments: there were no debtors or prepayments at 31 December 2024. Note S Creditors and accruals Analysis of creditors Aii)oiints falling due witliin one year At31.12.24 Reimbursements to cfD Note 9 Transactions and related partle5- there were no transartions with related parties during the year. Note 10 Liabllity of Members If the CIO is wound up, the mèmbers of the CIO have no liability to contribute lo its asset5 and nc> person31 responsibility lor settling its dei)ts and liabilities.