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||Pages|
|---|---|
|Reference and Administrative Details|1|
|Trustees’Report|2-10|
|Independent Auditor’s Report|11-14|
|Consolidated Statement of Financial Activities|15-16|
|Balance Sheet|17|
|Consolidated Statement of Cashflows|18|
|Notes to the Financial Statements|19-40|





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|Trustees||
|---|---|
||B Badesha|
||V Greenwood (appointed 25 November 2021)|
||J Ipyana (appointed 15 July 2021)|
||H Kendall|
||J Kennedy (resigned 25 November 2021)|
||A Mandalia (appointed 25 November 2021)|
||A Quinn (appointed 15 July 2021)|
||N Wayne (resigned 21 July 2022)|
|Chair|B Badesha|
|Chief Executive and Company Secretary|S Johnson|
|Company Number|02023982 (England & Wales)|
|Charity Number|299342|
|Registered Office|101E, Universal House|
||88 - 94 Wentworth Street|
||London|
||E1 6LS|
|Website|www.adviceuk.org.uk|
|Auditor|Scrutton Bland LLP|
||Fitzroy House|
||Crown Street|
||Ipswich|
||Suffolk|
||IP1 3LG|





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||**Notes**|**Unrestricted**|**Restricted**|**Total**|**Total**|
|---|---|---|---|---|---|
|||**Funds**|**Funds**|**Funds**|**Funds**|
|||**2022**|**2022**|**2022**|**2021**|
||||||(as restated|
||||||see note|
||||||28)|
|||£|£|£|£|
|**INCOME FROM**||||||
|Donations|**3**|171,014|-|171,014|90,427|
|Charitable activities|**4**|2,591,345|267,750|2,859,095|3,155,913|
|Investments|**5**|9,334|-|9,334|9,146|
|Share of profits of associate||235,203|-|235,203|204,677|
|**Total Income**||3,006,896|267,750|3,274,646|3,460,163|
|**EXPENDITURE ON:**||||||
|Raising funds|**6**|9,357|-|9,357|17,158|
|Charitable activities|**7**|2,625,195|259,210|2,884,405|3,086,156|
|**Total Expenditure**||2,634,552|259,210|2,893,762|3,103,314|
|**Net gains on investments**|**13**|20,753|-|20,753|35,796|
|**Net income**||393,097|8,540|401,637|392,645|
|**Transfer between funds**|**19**|(283)|283|-|-|
|**Net movement in funds**|**19**|**392,814**|**8,823**|**401,637**|**392,645**|
|**RECONCILIATION OF FUNDS**||||||
|**Fund balances brought forward**||1,974,343|101,517|2,075,860|1,683,215|
|**Fund balances carried forward**||2,367,157|110,340|2,477,497|2,075,860|





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||**Notes**|**Unrestricted**|**Restricted**|**Total**|
|---|---|---|---|---|
|||**Funds**|**Funds**|**Funds**|
|||**2021**|**2021**|**2021**|
|||(as restated<br>see note 28)||(as restated<br>see note 28)|
|||£|£|£|
|**INCOME FROM**|||||
|Donations|**3**|85,427|5,000|90,427|
|Charitable activities|**4**|2,294,213|861,700|3,155,913|
|Investments|**5**|9,146|-|9,146|
|Share ofprofits ofassociate||204,677|-|204,677|
|**Total Income**||2,593,463|866,700|3,460,163|
|**EXPENDITURE ON:**|||||
|Raising funds|**6**|17,158|-|17,158|
|Charitable activities|**7**|2,190,479|895,677|3,086,156|
|**Total Expenditure**||2,207,637|895,677|3,103,314|
|**Net gains on investments**|**13**|35,796|-|35,796|
|**Net income**||421,622|(28,977)|392,645|
|**Transfer between funds**|**19**|(10,794)|10,794|-|
|**Net movement in funds**|**19**|**410,828**|**(18,183)**|**392,645**|
|**RECONCILIATION OF FUNDS**|||||
|**Fund balances brought forward**||1,563,515|119,700|1,683,215|
|**Fund balances carried forward**||1,974,343|101,517|2,075,860|





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||**Notes**|**Group**|**Group**|**Charity**|**Charity**|
|---|---|---|---|---|---|
|||**2022**|**2021**|**2022**|**2021**|
||||(as restated<br>see note 28)||(as restated<br>see note 28)|
|||£|£|£|£|
|**Fixed assets**||||||
|Intangible assets|**11**|57,735|65,930|57,735|65,930|
|Tangible assets|**12**|5,704|6,622|5,704|6,622|
|Investments|**13**|997,045|741,089|365,886|345,133|
|**Total fixed assets**||1,060,484|813,641|429,325|417,685|
|**Current assets**||||||
|Debtors|**14**|1,376,903|1,262,019|1,718,771|1,497,083|
|Cash at bank and in hand||2,105,800|1,745,603|1,509,817|1,303,070|
|**Total current assets**||3,482,703|3,007,622|3,228,588|2,800,153|
|Creditors: amounts falling due||||||
|within one year|**15**|(2,021,388)|(1,714,691)|(2,034,222)|(1,755,396)|
|**Net current assets**||1,461,315|1,292,931|1,194,366|1,044,757|
|**Total assets less current**<br>**liabilities**||2,521,799|2,106,572|1,623,691|1,462,442|
|Provisions for liabilities|**17**|(44,302)|(30,712)|-|-|
|**Total net assets**||2,477,497|2,075,860|1,623,691|1,462,442|
|**Funds**||||||
|**Restricted funds**|**19**|110,340|101,517|110,340|101,517|
|**Unrestricted funds**||||||
|Designated funds|**19**|1,003,981|744,249|372,821|348,293|
|General funds|**19**|1,363,176|1,230,094|1,140,530|1,012,632|
|Total unrestricted funds|**19**|2,367,157|1,974,343|1,513,351|1,360,925|
|**Total Charity funds**|**20**|2,477,497|2,075,860|1,623,691|1,462,442|





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|||**2022**|**2021**|
|---|---|---|---|
||**Notes**|||
|||**£**|**£**|
|**Cash flows from operating activities:**||||
|**Net cash provided by operating activities**|21|371,595|569,282|
|**Cash flows from investing activities:**||||
|Interest received||9,334|9,146|
|Purchase of property, plant and equipment||(5,527)|(5,476)|
|Purchase of computer software||(15,205)|(13,096)|
|**Change in cash and cash equivalents in the year**||360,197|559,856|
|**Cash and cash equivalents at the beginning of the year**||1,745,603|1,185,747|
|**Cash and cash equivalents at the end of the year**|22|2,105,800|1,745,603|





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||**Unrestricted**|**Restricted**|**Total**|**Total**|
|---|---|---|---|---|
||**Funds**|**Funds**|**Funds**|**Funds**|
||**2022**|**2022**|**2022**|**2021**|
||£|£|£|£|
|Donations|171,014||171,014|90,427|



## 

||**Unrestricted**|**Restricted**|**Total**|**Total**|
|---|---|---|---|---|
||**Funds**|**Funds**|**Funds**|**Funds**|
||**2022**|**2022**|**2022**|**2021**|
|||||(as restated<br>see note 28)|
||£|£|£|£|
|Member services|2,580,393|-|2,580,393|2,306,038|
|Policies and campaigns|10,190|-|10,190|9,210|
|Projects on behalf of members grant|-|267,750|267,750|140,000|
|income|||||
|Scotland activities grant income|_|_|.|700,000|
|Other income|762|-|762|665|
||2,591,345|267,750|2,859,095|3,155,913|



## 

|**Total**|**Total**|
|---|---|
|**Funds**|**Funds**|
|**2022**|**2021**|
|£|£|
|9,334|9,146|





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||**Unrestricted**|**Restricted**|**Total**|**Total**|
|---|---|---|---|---|
||**Funds**|**Funds**|**Funds**|**Funds**|
||||**2022**|**2021**|
||£|£|£|£|
|Staff costs|9,307|-|9,307|17,003|
|Other costs|50|-|50|155|
||9,357|-|9,357|17,158|



## 

|Year ended 31 March 2022|**Project**|**Project and**||**Total**|
|---|---|---|---|---|
||**and activity**|**activity**|**Support**|**Funds**|
||**staff costs**|**other costs**|**costs**|**2022**|
||£|£|£|£|
|Members services|187,591|1,810,204|163,985|2,161,780|
|Policy and campaigns|142,368|2,260|81,816|226,444|
|Projects on behalf of members|23,367|221,726|14,117|259,210|
|Scotland activities|-|-|-|-|
|Development|114,542|7,588|114,841|236,971|
||467,868|2,041,778|374,759|2,884,405|
|**Restricted fund expenditure**|||||
|Project on behalf of members|23,627|221,726|14,117|259,210|
|Year ended 31 March 2021|**Project**|**Project and**||**Total**|
||**and activity**|**activity**|**Support**|**Funds**|
||**staff costs**|**other costs**|**costs**|**2021**|
|||||(as restated|
|||||see note 28)|
||£|£|£|£|
|Members services|217,713|1,561,567|234,767|2,014,047|
|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|42,407|668,027|33,074|743,508|
||405,720|2,317,742|362,694|3,086,156|
|**Restricted fund expenditure**|||||
|Members services|11,863|9,897|67|21,827|
|Projects on behalf of members|26,895|85,461|17,986|130,342|
|Scotland activities|42,407|668,027|33,074|743,508|
||81,164|763,385|51,127|895,677|





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|Year ended 31 March 2022|**Staff**|**Premises**|**Governance**|**Other**|**Total**|
|---|---|---|---|---|---|
||**costs**||**costs**||**Funds**|
||||||**2022**|
||£|£|£|£|£|
|Members services|62,078|36,177|28,743|36,987|163,985|
|Policy and campaigns|46,558|27,132|-|8,126|81,816|
|Projects on behalf of members|7,760|4,522|-|1,835|14,117|
|Scotland activities|-|-|-|-|-|
|Development|38,799|22,610|-|53,432|114,841|
||155,195|90,441|28,743|100,380|374,759|
|Year ended 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|



## 

|This is stated after charging:|**2022**|**2021**|
|---|---|---|
||£|£|
|Depreciation of tangible fixed assets:|||
|- owned by the Charity|5,790|5,112|
|Loss on disposal of tangible fixed assets|655|-|
|Amortisation of intangible assets|23,400|17,932|
|Auditor’s remuneration|||
|- Audit fees|13,000|12,700|
|- Accountancy fees|1,030|1,000|
|- Other services|515|500|
|- Subsidiary auditor's fees|9,800|7,950|
|Operating leases:|||
|- land and buildings|66,065|62,445|





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||**Group and **|**Charitv**|
|---|---|---|
||**2022**|**2021**|
||£|£|
|Wages and salaries|496,139|455,162|
|Social security costs|48,905|45,774|
|Employer's contribution to defined contribution pension scheme|29,384|27,641|
|Other employee benefits|57,943|61,413|
||632,371|589,990|



|||**2022**|**2021**|
|---|---|---|---|
|£60,001|-£70,000|1|1|
|£90,001|-£100,000|1|1|



||2022|2021|
|---|---|---|
|Projects and activities|10|10|
|Administration|2|2|
|All employees are employed by the Charity.|||



## 



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|**ROUP AND CHARITY**||
|---|---|
||**Computer**|
||**Software**|
||£|
|**Cost**||
|At 1 April 2021|101,554|
|Additions|15,205|
|At 31 March 2022|116,759|
|**Amortisation**||
|At 1 April 2021|35,624|
|Amortisation charge|23,400|
|At 31 March 2022|59,024|
|**NBV at 31 March 2022**|57,735|
|NBV at 31 March 2021|65,930|



## 

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|**ROUP AND CHARITY**|||||
|---|---|---|---|---|
||**Leasehold**||||
||**Building**|**Computer**|**Furniture &**||
||**Improvements**|**Equipment**|**Equipment**|**Total**|
||£|£|£|£|
|**Cost**|||||
|At 1 April 2021|66,773|53,246|26,117|146,136|
|Additions|-|5,527|-|5,527|
|Disposals|-|(885)|-|(885)|
|At 31 March 2022|66,773|57,888|26,117|150,778|
|**Depreciation**|||||
|At 1 April 2021|66,773|46,700|26,041|139,514|
|Charge for the year|-|5,714|76|5,790|
|Disposals|-|(230)|-|(230)|
|At 31 March 2022|66,773|52,184|26,117|145,074|
|**NBV at 31 March 2022**||5,704||5,704|
|NBV at 31 March 2021|-|6,546|76|6,622|





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||**Subsidiaries**|**Associates**|**Listed**|**Total**|
|---|---|---|---|---|
||||**Investments**||
||£|£|£|£|
|At 1 April 2021|101,000|40|244,093|345,133|
|Net gains|-|-|20,753|20,753|
|At 31 March 2022|101,000|40|264,846|365,886|



## 

||||Proportion of|
|---|---|---|---|
||||Ordinary Shares|
||Country of||Held and|
||Incorporation|Activity|votinq riqhts|
|Independent Advice Services Limited|England and|Non-trading|100%|
|(Company number: 03583609)|Wales|||
|VCS Insurance Company Limited|Guernsey|Insurance|100%|
|(Registered number: GG44303)||||



## 

|||**Listed**||
|---|---|---|---|
||**Associates**|**Investments**|**Total**|
||£|£|£|
|At 1 April 2021|496,996|244,093|741,089|
|Change in fairvalue|-|20,753|20,753|
|Share of profit of associate||||
|- Operating profit|588,325||588,325|
|- Taxation|(53,122)|-|(53,122)|
|- Dividend|(300,000)|-|(300,000)|
|**At 31 March 2022**|732,199|264,846|997,045|





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||**Income **|**Expenditure**|**Surplus/(deficit)**|**Net assets/**|
|---|---|---|---|---|
||||**for the year**|**(liabilities)**|
||£|£|£|**£**|
|Independent Advice Services Limited|1,750|5,554|(3,804)|(63,899)|
|VCS Insurance Company Limited|333,975|328,790|5,185|222,168|



## 

## 

||2022|2021|
|---|---|---|
|||(as restated<br>see note 28)|
||£|£|
|Total income|2,836,615|3,082,016|
|Total expenditure|(2,696,119)|(2,941,293)|
||140,496|140,723|
|**Net gains on investment**|20,753|35,796|
|**Net income**|161,249|176,519|
|Fund balances brought forward at 1 April 2021|1,462,442|1,285,923|
|**Fund balances carried forward at 31 March 2022**|**1,623,691**|**1,462,442**|





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|||**Group**||**Charity**|
|---|---|---|---|---|
||2022|2021|2022|2021|
|||(as restated<br>see note||(as restated<br>see note|
|||28)||28)|
||£|£|£|£|
|Trade debtors|559,419|454,145|536,623|443,175|
|Amounts owed by subsidiary undertakings|-|-|393,394|265,344|
|Amounts owed by participating interest|1,681|92,400|1,681|92,400|
|Other debtors|53,438|43,563|24,708|24,253|
|Prepayments and accrued income|762,365|671,911|762,365|671,911|
||1,376,903|1,262,019|1,718,771|1,497,083|



## 

|||**Group**||**Charity**|
|---|---|---|---|---|
||2022|2021|2022|2021|
|||(as restated||(as restated|
|||see note||see note|
|||28)||28)|
||£|£|£|£|
|Trade creditors|43,696|14,258|43,696|14,258|
|Amounts owed to subsidiary undertakings|-|-|108,109|107,166|
|Amounts owed to participating interest|360,678|294,224|360,678|294,224|
|Other taxation and social security|29,547|57,007|29,547|57,007|
|Other creditors|302,045|147,215|208,624|80,754|
|Accruals|40,012|44,150|38,158|44,150|
|Deferred income|1,245,410|1,157,837|1,245,410|1,157,837|
||2,021,388|1,714,691|2,034,222|1,755,396|





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||2022|2021|
|---|---|---|
|||(as restated|
|||see note 28)|
||£|£|
|At 1 April 2021|1,157,837|719,834|
|Income deferred in the current year|1,245,410|1,157,837|
|Amounts released from previous years|(1,157,837)|(719,834)|
|At 31 March 2022|1,245,410|1,157,837|



## 

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|**ROUP ONLY**|||
|---|---|---|
||2022|2021|
|**Technical reserves**|£|£|
|Outstanding claims reserve at 1 April 2021|30,712|20,750|
|Movement in prior years’ claim provisions|(30,712)|(20,750)|
|Provisions for new claims|21,070|13,000|
|Outstanding claims reserve at 31 March 2022|21,070|13,000|
|IBNER reserve|23,232|17,712|
||44,302|30,712|



## 

||**2018**|**2019**|**2020**|**2021**|**2022**|**Cumulative**|
|---|---|---|---|---|---|---|
|In year of claim (or|||||||
|brought forward)|48,905|28,160|24,930|14,946|9,070|348,960|
|One year later|(43,915)|1,061|202|16,275|-|(94,252)|
|Two years later|(2,301)|3,487|(775)|-|-|(67,876)|
|Three years later|(2,355)|1,412|-|-|-|(62,027)|
|Current estimate of|||||||
|ultimate claims|344|34,120|24,357|31,221|9,070|124,805|
|Cumulative payments|(334)|(25,820)|(15,292)|(13,354)|**_**|(80,503)|
|In balance sheet|**.**|**8,300**|**9,065**|**17,867**|**9,070**|**44,302**|





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## 

||Opening<br>Balance|Income|Expenditure|Gains, losses<br>and transfers|Closing<br>Balance|
|---|---|---|---|---|---|
||(as restated|||||
||see note|||||
||28)|||||
||£|£|£|£|£|
|RESTRICTED FUNDS||||||
|Members services||||||
|Projects on behalf of|14,658|267,750|(259,210)|283|23,481|
|members||||||
|Scotland activities|86,859||||86,859|
|Total Restricted funds|101,517|267,750|(259,210)|283|110,340|
|UNRESTRICTED FUNDS||||||
|General fund|1,230,094|3,006,587|(2,634,552)|(238,953)|1,363,176|
|Designated funds||||||
|Premises fund|66,667|-|-|33,333|100,000|
|Foundation fund|108,034|309|-|-|108,343|
|Fixed asset fund|569,548|-|-|226,090|795,638|
|Total Unrestricted funds|1,974,343|3,006,896|(2,634,552)|20,470|2,367,157|
|TOTAL FUNDS|2,075,860|3,274,646|(2,893,762)|20,753|2,477,497|
|STATEMENT OF FUNDS|-CHARITY|||||
||Opening<br>Balance|Income|Expenditure|Gains, losses<br>and transfers|Closing<br>Balance|
||(as restated|||||
||see note|||||
||28)|||||
||£|£|£|£|£|
|RESTRICTED FUNDS||||||
|Members services||||||
|Projects on behalf of|14,658|267,750|(259,210)|283|23,481|
|members||||||
|Scotland activities|86,859|-|-|-|86,859|
|Total Restricted funds|101,517|267,750|(259,210)|283|110,340|
|UNRESTRICTED FUNDS||||||
|General fund|1,012,632|2,568,556|(2,436,909)|(3,749)|1,140,530|
|Designated funds||||||
|Premises fund|66,667|-|-|33,333|100,000|
|Foundation fund|108,034|309|-|-|108,343|
|Fixed asset fund|173,592|-|-|(9,114)|164,478|
|Total Unrestricted funds|1,360,925|2,568,865|(2,436,909)|20,470|1,513,351|
|TOTAL FUNDS|1,462,442|2,836,615|(2,696,119)|20,753|1,623,691|





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||||**Total**|
|---|---|---|---|
||**Unrestricted**|**Restricted**|**Funds**|
||**Funds**|**Funds**|**2022**|
||£|£|£|
|Fixed assets|1,060,484|-|1,060,484|
|Current assets|3,372,363|110,340|3,482,703|
|Current liabilities|(2,021,388)|-|(2,021,388)|
|Provision for liabilities|(44,302)|-|(44,302)|
||2,367,157|110,340|2,477,497|



## 

||||**Total**|
|---|---|---|---|
||**Unrestricted**|**Restricted**|**Funds**|
||**Funds**|**Funds**|**2022**|
||£|£|£|
|Fixed assets|429,325|-|429,325|
|Current assets|3,118,248|110,340|3,228,588|
|Current liabilities|(2,034,222)|-|(2,034,222)|
||1,513,351|110,340|1,623,691|
|**ECONCILIATION OF NET INCOME/(EXPENDITURE) **|**TO NET CASH **|**FLOW FROM **|**OPERATING**|
|**CTIVITIES**||||
|||2022|2021|
||||(as restated|
||||see note|
||||28)|
|**Net income for the year**||401,637|392,645|
|**Adjustments for:**||||
|Depreciation charges||5,790|5,112|
|Amortisation charges||23,400|17,932|
|Loss on disposal of tangible fixed assets||655|-|
|Gains on investments||(20,753)|(35,796)|
|Share of profits of associated undertaking||(235,203)|(204,677)|
|Interest from investments||(9,334)|(9,146)|
|Increase in debtors||(114,884)|(320,406)|
|Increase in creditors||306,697|713,656|
|Increase in provision||13,590|9,962|
|**Net cash provided by operating activities**||371,595|569,282|



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||2022|2021|
|---|---|---|
||£|£|
|Cash at bank and in hand|2,105,800|1,745,603|
|**Total cash and cash equivalents**|2,105,800|1,745,603|



## 

||**At 1 April**|**Cash flows**|**At 31 March**|
|---|---|---|---|
||**2021**||**2022**|
||£|£|£|
|Cash in hand|1,745,603|360,197|2,105,800|
||1,745,603|360,197|2,105,800|



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## 

||2022|2021|
|---|---|---|
||£|£|
|Amounts due within one year|69,685|66,065|
|Amounts due between 1 and 5 years|-|69,685|
|Total|69,685|135,750|





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