## 



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|Reference and administrative details|1|
|---|---|
|Trustees’Report|2-10|
|Independent Auditors’ Report|11-14|
|Statement of Financial Activities|15-16|
|Balance Sheet|17|
|Cash Flow Statement|18|
|Notes to the Accounts|19-38|





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|**Trustees**||
|---|---|
||S Azimi (until 06.01.2021)|
||A Bearn (resigned 20.10.2020)|
||B Badesha|
||H Kendall|
||D Mulling (resigned 12.10.2020)|
||J Kennedy|
||WPalmer (resigned 11.11.2020)|
||N Wayne|
||P Whittle (resigned 31.07.2020)|
||J Ipyana (appointed 15.07.2021)|
||A Quinn (appointed 15.07.2021)|
|Chair|N Wayne|
|Chief Executive and Company Secretary|S Johnson|
|Company Number|02023982 (England & Wales)|
|Charity Number|0299342|
|Registered Office|101E, Universal House|
||88 - 94 Wentworth Street|
||London|
||E1 6LS|
|Website|www.adviceuk.org.uk|
|Auditors|Scrutton Bland LLP|
||Fitzroy House|
||Crown Street|
||Ipswich|
||Suffolk|
||IP1 3LG|





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||**Note**|**Unrestricted**|**Restricted**|**Total**|**Restated**|
|---|---|---|---|---|---|
|||**Funds**|**Funds**|**Funds**|**Total**|
|||**2021**|**2021**|**2021**|**Funds**|
||||||**2020**|
|||£|£|£|£|
|**INCOME FROM**||||||
|Donations|**3**|85,427|5,000|90,427|85,908|
|Charitable activities|**4**|2,427,638|861,700|3,289,338|2,312,442|
|Investments|**5**|9,146|-|9,146|8,231|
|Share of profits of associate||204,677|-|204,677|170,252|
|**Total Income**||2,726,888|866,700|3,593,588|2,576,833|
|**EXPENDITURE ON:**||||||
|Raising Funds|**6**|17,158||17,158|29,309|
|Charitable activities|**7**|2,311,583|895,677|3,207,260|2,303,718|
|**Total Expenditure**||2,328,741|895,677|3,224,418|2,333,027|
|**Net gains/(losses) on investments**|**13**|35,796|-|35,796|(10,315)|
|**Net income/(expenditure)**||433,943|(28,977)|404,966|233,491|
|**Transfer between funds**|**19**|(10,794)|10,794|-|-|
|**Net movement in funds**|**19**|**423,149**|**(18,183)**|**404,966**|233,491|
|**RECONCILIATION OF FUNDS**||||||
|**Fund balances brought forward**||1,759,421|119,700|1,759,121|1,525,630|
|**Fund balances carried forward**||2,062,570|101,517|2,164,087|1,759,121|





## 

||**Note**|**Restated**|**Restricted**|**Restated**|
|---|---|---|---|---|
|||**Unrestricted**|**Funds**|**Total**|
|||**Funds**|**2020**|**Funds**|
|||**2020**||**2020**|
|||£|£|£|
|**INCOME FROM**|||||
|Donations|**3**|85,908|-|85,908|
|Charitable activities|**4**|2,171,042|141,400|2,312,442|
|Investments|**5**|8,231|-|8,231|
|Share of profits of associate||170,252|-|170,252|
|**Total Income**||2,435,433|141,400|2,576,833|
|**EXPENDITURE ON:**|||||
|Raising Funds|**6**|29,309|-|29,309|
|Charitable activities|**7**|2,281,834|21,884|2,303,718|
|**Total Expenditure**||2,311,143|21,884|2,333,027|
|**Net (losses)/gains on investments**|**13**|(10,315)|-|(10,315)|
|**Net income**||113,975|119,516|233,491|
|**Transfer between funds**|**19**|(184)|184|-|
|**Net movement in funds**|**19**|**113,791**|**119,700**|**233,491**|
|**RECONCILIATION OF FUNDS**|||||
|**Fund balances brought forward**||1,525,630|-|1,525,630|
|**Fund balances carried forward**||1,759,121|119,700|1,759,121|





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## 

||**Notes**|**Group**|**Restated**|**Charity**|**Charity**|
|---|---|---|---|---|---|
|||**2021**|**Group**|**2021**|**2020**|
||||**2020**|||
|||£|£|£|£|
|**Fixed assets**||||||
|Intangible assets|**11**|65,930|70,766|65,930|70,766|
|Tangible assets|**12**|6,622|6,258|6,622|6,258|
|Investments|**13**|741,089|500,616|345,133|309,337|
|**Total fixed assets**||813,641|577,640|417,685|386,361|
|**Current assets**||||||
|Debtors|**14**|651,194|451,892|886,258|717,365|
|Cash at bank and in hand||1,745,603|1,185,747|1,303,070|760,434|
|**Total current assets**||2,396,797|1,637,639|2,189,328|1,477,799|
|**Liabilities:**||||||
|Creditors: amounts falling due<br>within one year|**15**|(1,015,639)|(435,408)|(1,056,344)|(502,331)|
|**Net current assets**||1,381,158|1,202,231|1,132,984|975,468|
|**Total assets less current**||2,194,799|1,779,871|1,550,669|1,361,829|
|**liabilities**||||||
|Provisions for liabilities|**17**|(30,712)|(20,750)|-|-|
|**Total net assets**||2,164,087|1,759,121|1,550,669|1,361,829|
|**Funds**||||||
|**Restricted funds**|**19**|101,517|119,700|101,517|119,700|
|**Unrestricted funds**||||||
|Designated funds|**19**|744,249|430,576|348,293|323,297|
|General funds|**19**|1,318,321|1,208,845|1,100,859|918,832|
|Total unrestricted funds|**19**|2,062,570|1,639,421|1,449,152|1,242,129|
|Total Charity Funds|**20**|2,164,087|1,759,121|1,550,669|1,361,829|





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## 

|||**Total**|**Total**|
|---|---|---|---|
||**Note**|**2021**|**2020**|
|||**£**|**£**|
|**Cash flows from operating activities:**||||
|**Net cash provided by operating activities**|21|569,282|14,676|
|**Cash flows from investing activities:**||||
|Interest received||9,146|8,231|
|Purchase of property, plant and equipment||(5,476)|(8,686)|
|Purchase of computer software||(13,096)|(88,458)|
|**Change in cash and cash equivalents in the reporting**||559,856|(74,237)|
|**period**||||
|**Cash and cash equivalents at the beginning of the**||||
|**reporting period**||1,185,747|1,259,984|
|**Cash and cash equivalents at the end of the reporting**|22|1,745,603|1,185,747|





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|Leasehold buildings|15% Over the lease term on a straight line basis|
|---|---|
|Computer equipment|33% to 100% Straight line basis|
|Furniture and equipment|20% Straight line basis|



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||**Unrestricted**|**Restricted**|**Total**|**Total**|
|---|---|---|---|---|
||**Funds**|**Funds**|**Funds**|**Funds**|
||**2021**|**2021**|**2021**|**2020**|
||£|£|£|£|
|Donations|85,427|5,000|90,427|85,908|



## 

||**Unrestricted**|**Restricted**|**Total**|**Total**|
|---|---|---|---|---|
||**Funds**|**Funds**|**Funds**|**Funds**|
||**2021**|**2021**|**2021**|**2020**|
||£|£|£|£|
|Member Services|2,417,763|21,700|2,439,463|2,173,392|
|Policies and campaigns|9,210|-|9,210|19,224|
|Projects on behalf of members grant|-|140,000|140,000|-|
|income|||||
|Scotland activities grant income|-|700,000|700,000|119,700|
|Corporate/other income (Foundation|665|-|665|126|
|Fund)|||||
||2,427,638|861,700|3,289,338|2,312,442|



## 

|**NVESTMENT INCOME**|||
|---|---|---|
||**Total**|**Total**|
||**Funds**|**Funds**|
||**2021**|**2020**|
||£|£|
|Bank interest receivable|9,146|8,231|





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||**Unrestricted**|**Restricted**|**Total**|**Total**|
|---|---|---|---|---|
||**Funds**|**Funds**|**Funds**|**Funds**|
||||**2021**|**2020**|
||£|£|£|£|
|Staff costs|17,003|-|17,003|16,704|
|Other costs|155|-|155|12,605|
||17,158|-|17,158|29,309|



## 

|Year to 31 March 2021|**Project**|**Project and**||**Total**|
|---|---|---|---|---|
||**and activity**|**activity**|**Support**|**Funds**|
||**staff costs**|**othercosts**|**costs**|**2021**|
||£|£|£|£|
|Members Services|217,714|1,682,671|234,767|2,135,152|
|Policy and Campaigns|118,705|2,687|76,867|198,259|
|Projects on behalf of members|26,895|85,461|17,986|130,342|
|Scotland Activities|42,406|668,027|33,074|743,507|
||405,720|2,438,846|362,694|3,207,260|



|Year to 31 March 2020|**Project**|**Projectand**||**Total**|
|---|---|---|---|---|
||**and activity**|**activity**|**Support**|**Funds**|
||**staff costs**|**other costs**|**costs**|**2020**|
||£|£|£|£|
|Members Services|351,560|1,534,407|251,360|2,137,327|
|Policy and Campaigns|103,693|3,235|59,463|166,391|
|Projects on behalf of members|-|-|-|-|
|Scotland Activities|-|.|.|_|
||455,253|1,537,642|310,823|2,303,718|





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|Yearto 31 March 2021|**Staff**|**Premises**|**Governance**|**Other**|**Total**|
|---|---|---|---|---|---|
||**costs**||**costs**||**Funds**|
||||||**2021**|
||£|£|£|£|£|
|Members Services|90,326|46,036|23,908|74,497|234,767|
|Policy and Campaigns|48,508|24,723|-|3,636|76,867|
|Projects on behalf of members|11,709|5,968|-|309|17,986|
|Scotland Activities|16,727|8,525|-|7,822|33,074|
||167,270|85,252|23,908|86,264|362,694|
|Yearto 31 March 2020|**Staff**|**Premises**|**Governance**|**Other**|**Total**|
||**costs**||**costs**||**Funds**|
||||||**2020**|
||£|£|£|£|£|
|Members Services|99,672|59,760|22,194|69,734|251,360|
|Policy and Campaigns|33,224|19,920|-|6,319|59,463|
|Projects on behalf of members|-|-|-|-|-|
|Scotland Activities|.|-|_|_|.|
||132,896|79,680|22,194|76,053|310,823|



## 

|This is stated after charging:|2021|2020|
|---|---|---|
||£|£|
|Depreciation of tangible fixed assets:|||
|- owned by the charity|5,112|22,360|
|Amortisation of intangible assets|17,932|17,692|
|Auditors’ remuneration|||
|-Audit fees|12,700|13,285|
|- Accountancy fees|1,000|2,050|
|- other services|500|825|
|- Subsidiary auditor’s fees|7.950|5,000|
|Operating leases:|||
|- land and buildings|62,445|58,405|





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||**Group and **|**Charity**|
|---|---|---|
||2021|2020|
||£|£|
|Wages and salaries|455,162|495,851|
|Social security costs|45,774|45,555|
|Employer's contribution to defined contribution pension scheme|27,641|29,122|
|Other employee benefits|61.413|34,325|
||589,990|604,853|



|||2021|2020|
|---|---|---|---|
|£60,001|-£70,000|1|1|
|£80,001|-£90,000||1|
|£90,001|-£100,000|1||



||2021|2020|
|---|---|---|
|Projects and activities|10|12|
|Administration|2|2|
|All employees are employed by the Charity.|||



## 



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|**ROUP AND CHARITY**|||
|---|---|---|
||**Computer Software**|**Total**|
||£|£|
|**Cost**|||
|At 1 April 2020|88,458|88,458|
|Additions|13,096|13,096|
|At 31 March 2021|101,554|101,554|
|**Amortisation**|||
|At 1 April 2020|17,692|17,692|
|Amortisation charge|17,932|17,932|
|At 31 March 2021|35,624|35,624|
|**NBV at 31 March 2021**|65,930|65,930|
|NBVat 31 March 2020|70,766|70,766|



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|**ROUP AND CHARITY**|||||
|---|---|---|---|---|
||**Leasehold**||||
||**Buildings**|**Computer**|**Furniture &**||
||**Improvements**|**Equipment**|**Equipment**|**Total**|
||£|£|£|£|
|**Cost**|||||
|At 1 April 2020|66,773|48,710|26,117|141,600|
|Additions|-|5,476|-|5,476|
|Disposals|-|(940)|-|(940)-|
|At 31 March 2021|66,773|53,246|26,117|146.136|
|**Depreciation**|||||
|At 1 April 2020|66,773|42,605|25,964|135,342|
|Charge for the Year|-|5,035|77|5,112|
|Disposals|-|(940)|-|(940)-|
|At 31 March 2021|66,773|46,700|26,041|139,514|
|**NBV at 31 March 2021**||6,546|76|6,622|
|NBV at 31 March 2020|-|6,105|153|6,258|





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||**Subsidiaries**|**Associates**|**Other**|**Listed**|**Total**|
|---|---|---|---|---|---|
|||||**Investment**||
||£|£|£|£|£|
|At 1 April 2020|101,000|40|4,184|204,113|309,337|
|Net gains/(losses)|-|-|(4,184)|39,980|35,796|
|At 31 March 2021|101,000|40|-|244,093|345,133|



## 

||||Proportion of|
|---|---|---|---|
||||Ordinary Shares|
||Country of<br>Incorporation|Activity|Held and<br>voting rights|
|Independent Advice Services Limited|UK|Non-trading||
|(Company number: 03583609)|||100%|
|VCS Insurance Company Limited*|Guernsey|Insurance|100%|
|(Registered number: GG44303)||||



||||**Listed**||
|---|---|---|---|---|
||**Associates**|**Other**|**Investment**|**Total**|
||£|£|£|£|
|At 1 April 2020|292,319|4,184|204,113|500,616|
|Change in fairvalue|-|(4,184)|39,980|35,796|
|Share ofprofit of associate|||||
|- Operating profit|359,819|||359,819|
|- Taxation|(50,142)|-|-|(50,142)|
|- Dividend|(105,000)|■|-|(105,000)|
|**At 31 March 2021**|496,996|-|244,093|741,089|





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||**Income **|**Expenditure**|**Surplus/(Deficit)**|**Net assets/**|
|---|---|---|---|---|
||||**for the period**|**(liabilities)**|
||£|£|£|**£**|
|Independent Advice Services Limited|1,750|4,852|(3,102)|(60,095)|
|VCS Insurance Company Limited|291,009|279,560|11,449|216,983|



## 

## 

||2021|2020|
|---|---|---|
||£|£|
|Total income|3,215,441|2,264,196|
|Total expenditure|(3,062,397)|(2,187,225)|
||153,044|76,971|
|**Net gain/(loss) on investment**|35,796|(10,315)|
|**Net income/(expenditure)**|188,840|66,656|
|Fund balances brought forward at 1 April 2020|1,361,829|1,295,173|
|**Fund balances carried forward at 31 March 2021**|**1,550,669**|**1,361,829**|





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|||**Group**|||**Charity**||
|---|---|---|---|---|---|---|
||2021||2020|2021||2020|
||£||£|£||£|
|Trade debtors|454,145||292,070|443,175||274,274|
|Otherdebtors|43,563||24,236|24,253||18,970|
|Prepayments and accrued income|61,086||56,192|61,086||56,192|
|Amounts owed by subsidiary|-||-|265,344||288,535|
|undertakings|||||||
|Amount owed by participating|92,400||79,394|92,400||79,394|
|interest|||||||
||651,194||451,892|886,258||717,365|



## 

|||**Group**|||**Charity**|
|---|---|---|---|---|---|
||2021||2020|2021|2020|
||£||£|£|£|
|Trade creditors|14,258||17,408|14,258|17,427|
|Deferred income|458,785||154,207|458,785|154,207|
|Other creditors|147,215||50,060|80,754|7,613|
|Accruals|44,150||31,783|44,150|31,783|
|Other taxation and social security|57,007||13,411|57,007|10,618|
|Amounts owed to subsidiary|-||-|107,166|112,324|
|Undertakings||||||
|Amount owed to participating|294,224||168,539|294,224|168,359|
|interest||||||
||1,015,639||435,408|1,056,344|502,4331|





## 

## 

||2021|2020|
|---|---|---|
||£|£|
|At 1 April 2020|154,207|262.736|
|Income deferred in the current year|458,785|154,207|
|Amounts released from previous years|(154,207)|(262,736)|
|At 31 March 2021|458,785|154,207|



## 

|||2021|2020|
|---|---|---|---|
|**Technical reserves**||**£**|**£**|
|Outstanding claims reserve at|1April 2020|20,750|27,531|
|Movement in prior years’ claim|provisions|(20,750)|(27,531)|
|Provisions for new claims||13,000|8,000|
|Outstanding claims reserve at|31March2021|13,000|8,000|
|IBNER reserve||17,712|12,750|
|||30,712|20,750|



## 

||**2017**|**2018**|**2019**|**2020**|**2021**|**Cumulative**|
|---|---|---|---|---|---|---|
|In year of claim (or|||||||
|brought forward)|47,344|48,905|28,160|24,930|14,946|339,890|
|One year later|(24,591)|(43,915)|1,061|202||(110,527)|
|Two years later|(2,798)|(2,301)|3,487|||(67,101)|
|Three years later|(2,919)|(2,355)||||(63,439)|
|Current estimate of|||||||
|ultimate claims|17,036|344|32,708|25,132|14,946|98,823|
|Cumulative payments|(17,036)|(334)|(25,820)|(15,292)|(962)|(68,111)|
|In balance sheet|**0**|**0**|**6,888**|**9,840**|**13,984**|**30,712**|





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## 

||**Restated**<br>**Opening**|**Income**|**Expenditure**|**Gains, losses**<br>**and transfers**|**Closing**<br>**Balance**|
|---|---|---|---|---|---|
||**Balance**|||||
||**£**|**£**|**£**|**£**|**£**|
|**RESTRICTED FUNDS**||||||
|Members Services|.|21,700|(21,827)|127||
|Projects on behalf of|**-**|145,000|(130,342)|-|14,658|
|members||||||
|Scotland activities|119,700|700,000|(743,508)|10,667|86,859|
|**Total Restricted funds**|119,700|866,700|(895,677)|10,794|101,517|
|**UNRESTRICTED FUNDS**||||||
|General Fund|1,124,845|2,726,569|(2,328.741)|(204,352)|1,318,321|
|**Designated funds**||||||
|Premises fund|33,334|||33,333|66,667|
|Foundation fund|107,715|319|-|-|108,034|
|Fixed asset fund|373,527|**-**|**-**|196,021|569,548|
|**Total Unrestricted funds**|1,639,421|2,726,888|(2,326,991)|25,002|2,062,570|
|**TOTAL FUNDS**|**1,759,121**|**3,593,588**|**(3,224,418)**|**35,796**|**2,164,087**|
|**STATEMENT OF FUNDS - CHARITY**||||||
||**Opening**<br>**Balance**|**Income**|**Expenditure**|**Gains, losses**<br>**and transfers**|**Closing**<br>**Balance**|
||**£**|**£**|**£**|**£**|**£**|
|**RESTRICTED FUNDS**||||||
|Members Services||21,700|(21,827)|127||
|Projects on behalf of|-|145,000|(130,342)|-|14.658|
|members||||||
|Scotland activities|119,700|700,000|(743,508)|10,667|86,859|
|**Total Restricted funds**|119,700|866,700|(895,677)|10,794|101,517|
|**UNRESTRICTED FUNDS**||||||
|General Fund|918,832|2,348.422|(2,166,720)|325|1,100,859|
|**Designated funds**||||||
|Premises fund|33,334|||33,333|66,667|
|Foundation fund|107,715|319|-|-|108,034|
|Fixed asset fund|182,248|**-**|**-**|(8,656)|173,592|
|**Total Unrestricted funds**|1,242,129|2,348,741|(2,166,720)|25,002|1,449,152|
|**TOTAL FUNDS**|**1,361,829**|**3,215,441**|**(3,062,397)**|**35,796**|**1,550,669**|





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||||**Total**|
|---|---|---|---|
||**Unrestricted**|**Restricted**|**Funds**|
||**Funds**|**Funds**|**2021**|
||£|£|£|
|Fixed assets|813,641|-|813,641|
|Current assets|2,295,280|101,517|2,396,797|
|Current liabilities|(1,015,639)|-|(1,015,639)|
|Provision for liabilities|(30,712)|-|(30,712)|
||1,986,970|101,517|2,164,087|



## 

||||**Total**|
|---|---|---|---|
||**Unrestricted**|**Restricted**|**Funds**|
||**Funds**|**Funds**|**2021**|
||£|£|£|
|Fixed assets|417,685|-|417,685|
|Current assets|2,087,811|101,517|2,189,328|
|Current liabilities|(1,056,344)|-|(1,056,344)|
||1,449,152|101,517|1,550,669|



|**21.**|**RECONCILIATION OF NET INCOME/(EXPENDITURE) TO NET CASH FLOW FROM OPERATING**|
|---|---|
||**ACTIVITIES**|



|**Net income/(expenditure) for the reporting**|||
|---|---|---|
|**period**|404,966|233,491|
|**Adjustments for:**|||
|Depreciation charges|5,112|22,360|
|Amortisation charges|17,932|17,692|
|Loss/(Gain) on investments|(35,796)|10,315|
|Share of profits ofassociated undertaking|(204,677)|(170,252)|
|Interest from investments|(9,146)|(8,231)|
|Decrease/(lncrease) in debtors|(199,302)|50,593|
|(Decrease)/lncrease in creditors|580,231|(134,511)|
|(Decrease)/lncrease in provision|9,962|(6,781)|
|**Net cash provided by operating activities**|569,282|14,676|





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## 

||**2021**|**2020**|
|---|---|---|
||£|£|
|Cash in hand|1,745,603|1,185,747|
|**Total cash and cash equivalents**|1,745,603|1,185,747|
|**ANALYSIS OF NET DEBT**|||



||**At 1 April**|**Cash flows **|**At 31 March**|
|---|---|---|---|
||**2020**||**2021**|
||£|£|£|
|Cash in hand|1,185,747|559,856|1,745,603|
||1,185,747|559,856|1,745,603|



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||2021|2020|
|---|---|---|
||£|£|
|Amounts due within one year|66,065|62,445|
|Amounts due between 1 and 5 years|69,685|135,750|
|Total|135,750|198,195|



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