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||Pages|
|---|---|
|Reference and Administrative Details|1|
|Report of the Trustees|2-11|
|Independent Auditor's Report|12-15|
|Consolidated Statement of Financial Activities|16-17|
|Balance Sheet|18|
|Consolidated Statement of Cashflows|19|
|Notes to the Financial Statements|20 - 40|





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|Trustees|B Badesha|
|---|---|
||V Greenwood|
||J Ipyana|
||H Kendall|
||A Mandalia|
||A Quinn|
||N Sombu (appointed 18 May 2023)|
||N Wayne (resigned 21 July 2022)|
||C White (appointed 18 May 2023)|
|Chair|B Badesha|
|Chief Executive|L Bayram|
|Company Secretary|S Johnson|
|Company Number|02023982 (England & Wales)|
|Charity Number|299342|
|Registered Office|Suite 610|
||150 Minories|
||London|
||EC3N 1LS|
|Website|www.adviceuk.org.uk|
|Auditor|SB Audit LLP|
||Fitzroy House|
||Crown Street|
||Ipswich|
||Suffolk|
||IP1 3LG|





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||**Notes**|**Unrestricted**|**Restricted**|**Total**|**Total**|
|---|---|---|---|---|---|
|||**Funds**|**Funds**|**Funds**|**Funds**|
|||**2023**|**2023**|**2023**|**2022**|
|||£|£|£|£|
|**INCOME FROM**||||||
|Donations|**3**|326,049||326,049|171,014|
|Charitable activities|**4**|2,655,897|285,950|2,941,847|2,859,095|
|Investments|**5**|7,558|-|7,558|9,334|
|Share ofprofits of associate||-|-|-|235,203|
|**Total Income**||2,989,504|285,950|3,275,454|3,274,646|
|**EXPENDITURE ON:**||||||
|Raising funds|**6**|9,389||9,389|9,357|
|Charitable activities|**7**|2,951,245|223,772|3,175,017|2,884,405|
|Share oflosses of associate||163,135|-|163,135|-|
|**Total Expenditure**||3,123,769|223,772|3,347,541|2,893,762|
|**Net (losses)/ gains on**|**13**|(11,313)|-|(11,313)|20,753|
|**investments**||||||
|**Net (expenditure)/income**||(145,578)|62,178|(83,400)|401,637|
|**Transfer between funds**|**19**|-|-|-|-|
|||(145,578)|62,178|(83,400)|401,637|
|**Net movement in funds**|**19**|||||
|**RECONCILIATION OF FUNDS**||||||
|**Fund balances brought forward**||2,367,157|110,340|2,477,497|2,075,860|
|**Fund balances carried forward**||2,221,579|172,518|2,394,097|2,477,497|





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





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||**Notes**|**Group**|**Group**|**Charity**|**Charity**|
|---|---|---|---|---|---|
|||**2023**|**2022**|**2023**|**2022**|
|||£|£|£|£|
|**Fixed assets**||||||
|Intangible assets|**11**|47,887|57,735|47,887|57,735|
|Tangible assets|**12**|5,122|5,704|5,122|5,704|
|Investments|**13**|822,597|997,045|354,573|365,886|
|**Total fixed assets**||875,606|1,060,484|407,582|429,325|
|**Current assets**||||||
|Debtors|**14**|1,367,205|1,376,903|1,612,157|1,718,771|
|Cash at bank and in hand||2,444,762|2,105,800|1,923,075|1,509,817|
|**Total current assets**|22|3,811,967|3,482,703|3,535,232|3,228,588|
|Creditors: amounts falling due||||||
|within one year|**15**|(2,243,776)|(2,021,388)|(2,268,026)|(2,034,222)|
|**Net current assets**||1,568,191|1,461,315|1,267,206|1,194,366|
|**Total assets less current**<br>**liabilities**||2,443,797|2,521,799|1,674,788|1,623,691|
|Provisions for liabilities|**17**|(49,700)|(44,302)|(13,667)|-|
|**Total net assets**||2,394,097|2,477,497|1,661,121|1,623,691|
|**Funds**||||||
|**Restricted funds**|**19**|172,518|110,340|172,518|110,340|
|**Unrestricted funds**||||||
|Designated funds|**19**|831,090|1,003,981|263,066|372,821|
|General funds|**19**|1,390,489|1,363,176|1,225,537|1,140,530|
|Total unrestricted funds|**19**|2,221,579|2,367,157|1,488,603|1,513,351|
|**Total Charity funds**|**19,20**|2,394,097|2,477,497|1,661,121|1,623,691|





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|||**2023**|**2022**|
|---|---|---|---|
||**Notes**|||
|||**£**|**£**|
|**Cash flows from operating activities:**||||
|**Net cash provided by operating activities**|21|352,530|371,595|
|**Cash flows from investing activities:**||||
|Interest received||7,558|9,334|
|Purchase of property, plant and equipment||(4,186)|(5,527)|
|Purchase of computer software||(16,940)|(15,205)|
|**Change in cash and cash equivalents in the year**||338,962|360,197|
|**Cash and cash equivalents at the beginning of the year**||2,105,800|1,745,603|
|**Cash and cash equivalents at the end of the year**|22|2,444,762|2,105,800|





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||**Unrestricted**|**Restricted**|**Total**|**Total**|
|---|---|---|---|---|
||**Funds**|**Funds**|**Funds**|**Funds**|
||**2023**|**2023**|**2023**|**2022**|
||**£**|**£**|**£**|**£**|
|Donations|326,049|-|326,049|171,014|



## 

||**Unrestricted**|**Restricted**|**Total**|**Total**|
|---|---|---|---|---|
||**Funds**|**Funds**|**Funds**|**Funds**|
||**2023**|**2023**|**2023**|**2022**|
||**£**|**£**|**£**|**£**|
|Member services|2,644,639|-|2,644,639|2,580,393|
|Policies and campaigns|9,883|**-**|9,883|10,190|
|Projects on behalf of members grant|**-**|285,950|285,950|267,750|
|income|||||
|Scotland activities grant income|-|-|-|-|
|Other income|1,375|**-**|1,375|762|
||2,655,897|285,950|2,941,847|2,859,095|



## 

||**Unrestricted**|**Restricted**|**Total**|**Total**|
|---|---|---|---|---|
||**Funds**|**Funds**|**Funds**|**Funds**|
||**2023**|**2023**|**2023**|**2022**|
||||**£**|**£**|
|Bank interest receivable|7,558|-|7,558|9,334|





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||**Unrestricted**|**Restricted**|**Total**|**Total**|
|---|---|---|---|---|
||**Funds**|**Funds**|**Funds**|**Funds**|
||**2023**|**2023**|**2023**|**2022**|
||£|£|£|£|
|Staff costs|9,196|-|9,196|9,307|
|Other costs|193|-|193|50|
||9,389|-|9,389|9,357|



## 

|Year ended 31 March 2023|**Project**|**Project and**||**Total**|
|---|---|---|---|---|
||**and activity**|**activity**|**Support**|**Funds**|
||**staff costs**|**other costs**|**costs**|**2023**|
||£|£|£|£|
|Members services|223,227|1,963,404|194,442|2,381,073|
|Policy and campaigns|187,520|4,590|111,356|303,466|
|Projects on behalf of members|24,247|183,895|15,630|223,772|
|Development|135,338|8,218|123,150|266,706|
||570,332|2,160,107|444,578|3,175,017|
|**Restricted fund expenditure**|||||
|Project on behalf of members|24,247|183,895|15,630|223,772|
|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|
|Development|114,542|7,588|114,841|236,971|
||467,868|2,041,778|374,759|2,884,405|
|**Restricted fund expenditure**|||||
|Projects on behalf of members|23,627|221,726|14,117|259,210|





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|Year ended 31 March 2023|**Staff**|**Premises**|**Governance**|**Other**|**Total**|
|---|---|---|---|---|---|
||**costs**||**costs**||**Funds**|
||||||**2023**|
||£|£|£|£|£|
|Members services|65,790|43,070|38,462|47,120|194,442|
|Policy and campaigns|55,668|36,444|-|19,244|111,356|
|Projects on behalf of members|6,748|4,417|-|4,465|15,630|
|Development|40,486|26,505|-|56,159|123,150|
||168,692|110,436|38,462|126,988|444,578|
|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|
|Development|38,799|22,610|-|53,432|114,841|
||155,195|90,441|28,743|100,380|374,759|



## 

|This is stated after charging:|**2023**|**2022**|
|---|---|---|
||£|£|
|Depreciation of tangible fixed assets:|||
|- owned by the Charity|4,768|5,790|
|Loss on disposal of tangible fixed assets|-|655|
|Amortisation ofintangible assets|26,788|23,400|
|Auditor’s remuneration|||
|- Audit fees|14,000|13,000|
|- Accountancy fees|1,100|1,030|
|- Tax Services|575|515|
|- Subsidiary auditor’s fees|10,000|9,800|
|Operating leases:|||
|- land and buildings|27,863|66,065|





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|taff costs were as follows:|||
|---|---|---|
||**Group and **|**Charity**|
||**2023**|**2022**|
||£|£|
|Wages and salaries|447,036|496,139|
|Social security costs|46,013|48,905|
|Employer's contribution to defined contribution pension scheme|25,015|29,384|
|Other employee benefits|61,464|57,943|
||579,528|632,371|



|||**2023**|**2022**|
|---|---|---|---|
|£60,001|-£70,000|1|1|
|£90,001|-£100,000|1|1|



||**Group & Charity**||
|---|---|---|
||**2023**|**2022**|
|Projects and activities|13|10|
|Administration|2|2|
|All employees are employed by the Charity.|||



## 



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|**ROUP AND CHARITY**||
|---|---|
||**Computer**|
||**Software**|
||£|
|**Cost**||
|At 1 April 2022|116,759|
|Additions|16,940|
|At 31 March 2023|133,699|
|**Amortisation**||
|At 1 April 2022|59,024|
|Amortisation charge|26,788|
|At 31 March 2023|85,812|
|**NBV at 31 March 2023**|47,887|
|NBV at 31 March 2022|57,735|



## 

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|**ROUP AND CHARITY**|||||
|---|---|---|---|---|
||**Leasehold**||||
||**Building**|**Computer**|**Furniture &**||
||**Improvements**|**Equipment**|**Equipment**|**Total**|
||£|£|£|£|
|**Cost**|||||
|At 1 April 2022|66,773|57,888|26,117|150,778|
|Additions|-|4,186||4,186|
|Disposals|(66,773)|(33,472)|(26,117)|(126,362)|
|At 31 March 2023|-|28,602|-|28,602|
|**Depreciation**|||||
|At 1 April 2022|66,773|52,184|26,117|145,074|
|Charge for the year|-|4,768|-|4,768|
|Disposals|(66,773)|(33,472)|(26,117)|(126,362)|
|At 31 March 2023|-|23,480|-|23,480|
|**NBV at 31 March 2023**||5,122||5,122|
|NBV at 31 March 2022|-|5,704|-|5,704|





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|||**Subsidiaries**|**Associates**|**Listed**|**Total**|
|---|---|---|---|---|---|
|||||**Investments**||
|||£|£|£|£|
|At 1 April 2022||101,000|40|264,846|365,886|
|Net losses on change|in||-|(11,313)|(11,313)|
|fair value||||||
|At 31 March 2023||101,000|40|253,533|354,573|



## 

||||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 2022|732,199|264,846|997,045|
|Change in fair value|-|(11,313)|(11,313)|
|Share of profit of associate||||
|- Operating profit|246,508||246,508|
|- Taxation|(9,643)|-|(9,643)|
|- Dividend|(400,000)|-|(400,000)|
|**At 31 March 2023**|569,064|253,533|822,597|





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||**Income **|**Expenditure **|**Surplus/(deficit)**|**Net assets/**|
|---|---|---|---|---|
||||**for the year**|**(liabilities)**|
||£|£|£|**£**|
|Independent Advice Services Limited|32,666|3,767|28,899|£nil|
|VCS Insurance Company Limited|405,713|361,393|44,320|**266,488**|



## 

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||**2023**|2022|
|---|---|---|
||£|£|
|Total income|**2,986,136**|**2,836,615**|
|Total expenditure|**(2,921,503)**|**(2,696,119)**|
||**48,743**|**140,496**|
|**Net gains on investment**|**(11,313)**|**20,753**|
|**Net income**|**37,430**|**161,249**|
|Fund balances brought forward at **1 **April **2022**|**1,623,691**|**1,462,442**|
|**Fund balances carried forward at 31 March 2023**|**1,661,121**|**1,623,691**|





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|||**Group**||**Charity**|
|---|---|---|---|---|
||**2023**|**2022**|**2023**|**2022**|
||£|£|£|£|
|Trade debtors|547,225|559,419|546,728|536,623|
|Amounts owed by subsidiary undertakings|-|-|282,175|393,394|
|Amounts owed by participating interest|-|1,681|-|1,681|
|Other debtors|60,252|53,438|23,526|24,708|
|Prepayments and accrued income|759,728|762,365|759,728|762,365|
||1,367,205|1,376,903|1,612,157|1,718,771|



## 

|||**Group**||**Charity**|
|---|---|---|---|---|
||**2023**|**2022**|**2023**|**2022**|
||£|£|£|£|
|Trade creditors|40,224|43,696|40,224|43,696|
|Amounts owed to subsidiary undertakings|-|-|114,000|108,109|
|Amounts owed to participating interest|425,221|360,678|425,221|360,678|
|Other taxation and social security|48,826|29,547|48,826|29,547|
|Other creditors|246,677|302,045|156,927|208,624|
|Accruals|62,151|40,012|62,151|38,158|
|Deferred income|1,420,677|1,245,410|1,420,677|1,245,410|
||2,243,776|2,021,388|2,268,026|2,034,222|





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||**2023**|**2022**|
|---|---|---|
||£|£|
|At 1 April 2022|1,245,410|1,157,837|
|Income deferred in the current year|1,420,677|1,245,410|
|Amounts released from previous years|(1,245,410)|(1,157,837)|
|At 31 March 2023|1,420,677|1,245,410|



## 

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||**2023**|**2022**|
|---|---|---|
|**Dilapidations Provision**|**£**|**£**|
|At 1 April 2022|||
|Expensed in the year|13,667||
|At 31 March 2023|13,667|-|
|**GROUP**|||
||**2023**|**2022**|
|**Dilapidations Provision**|**£**|**£**|
|At 1 April 2022|||
|Expensed in the year|13,667||
|At 31 March 2023|13,667|~|
|**Technical reserves**|||
|Outstanding claims reserveat 1 April 2022|44,302|30,712|
|Movement in prior years' claim provisions|(44,302)|(30,712)|
|Provisions for new claims|8,000|21,070|
|Outstanding claims reserve at 31 March 2023|8,000|21,070|
|**IBNER reserve**|28,033|23,232|
|Provision for liabilities at 31 March 2023|49,700|44,302|





## 

## 

||**2019**|**2020**|**2021**|**2022**|**2023**|**Cumulative**|
|---|---|---|---|---|---|---|
|In year of claim (or|||||||
|brought forward)|28,160|24,930|14,946|9,070|24,298|373,258|
|One year later|1,061|202|16,275|25,820|-|(68,432)|
|Two years later|3,487|(775)|(13,273)|-|-|(81,149)|
|Three years later|1,412|(9,065)|-|-|-|(71,092)|
|Four years later|(8,300)|-|-|-|-|(8,300)|
|Current estimate of|||||||
|ultimate claims|25,820|15,292|17,948|34,890|24,298|144,285|
|Cumulative payments|(25,820)|(15,292)|(13,354)|(23,500)|(4,249)|(108,252)|
|In balance sheet|||4,594|11,390|20,049|36,033|



## 



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||**Opening**|**Income**|**Expenditure**|**Net losses on**|**Closing**|
|---|---|---|---|---|---|
||**Balance**|||**investments**|**Balance**|
|||||**and transfers**||
||**£**|**£**|**£**|**£**|**£**|
|**RESTRICTED FUNDS**||||||
|**Projects on behalf of**|23,481|285,950|(223,772)|**-**|85,659|
|**members**||||||
|**Scotland activities**|86,859|**-**|**-**|**-**|86,859|
|**Total Restricted funds**|110,340|285,950|(223,772)|**-**|172,518|
|**UNRESTRICTED FUNDS**||||||
|**General fund**|1,363,176|2,988,830|(3,123,769)|262,252|1,490,489|
|**Designated funds**||||||
|**Premises fund**|100,000|||(100,000)||
|**Foundation fund**|108,343|674|-|-|109,017|
|**Fixed asset fund**|795,638|**-**|**-**|(173,565)|622,073|
|**Total Unrestricted funds**|2,367,157|2,989,504|(3,123,769)|(11,313)|2,221,579|
|**TOTAL FUNDS**|**2,477,497**|**3,275,454**|**(3,347,541)**|**(11,313)**|**2,394,097**|
|**STATEMENT OF FUNDS **|**-CHARITY**|||||
||**Opening**|**Income**|**Expenditure**|**Net losses on**|**Closing**|
||**Balance**|||**investments**|**Balance**|
|||||**and transfers**||
||**£**|**£**|**£**|**£**|**£**|
|**RESTRICTED FUNDS**||||||
|**Projects on behalf of**|23,481|285,950|(223,772)|**-**|85,659|
|**members**||||||
|**Scotland activities**|86,859|**-**|**-**|**-**|86,859|
|**Total Restricted funds**|110,340|285,950|(223,772)|**-**|172,518|
|**UNRESTRICTED FUNDS**||||||
|**General fund**|1,140,530|2,699,512|(2,713,621)|99,116|1,225,537|
|**Designated funds**||||||
|**Premises fund**|100,000|||(100,000)||
|**Foundation fund**|108,343|674|-|-|109,017|
|**Fixed asset fund**|164,478|**-**|**-**|(10,429)|154,049|
|**Total Unrestricted funds**|1,513,351|2,700,186|(2,713,621)|(11,313)|1,488,603|
|**TOTAL FUNDS**|**1,623,691**|**2,986,136**|**(2,937,393)**|**(11,313)**|**1,661,121**|





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||||**Total**|
|---|---|---|---|
||**Unrestricted**|**Restricted**|**Funds**|
||**Funds**|**Funds**|**2023**|
||£|£|£|
|Fixed assets|875,606|-|875,606|
|Current assets|3,639,449|172,518|3,811,967|
|Current liabilities|(2,243,776)|-|(2,243,776)|
|Provision for liabilities|(49,700)|-|(49,700)|
||2,220,903|173,194|2,394,097|



## 

||||**Total**|
|---|---|---|---|
||**Unrestricted**|**Restricted**|**Funds**|
||**Funds**|**Funds**|**2023**|
||£|£|£|
|Fixed assets|407,582|-|407,582|
|Current assets|3,362,714|172,518|3,535,232|
|Current liabilities|(2,268,026)|-|(2,268,026)|
|Provision for liabilities|(13,667)|-|(13,667)|
||1,488,603|172,518|1,661,121|



## 

||**2023**|**2022**|
|---|---|---|
|**Net (expenditure)/income for the year**|(83,400)|401,637|
|**Adjustments for:**|||
|Depreciation charges|4,768|5,790|
|Amortisation charges|26,788|23,400|
|Loss on disposal of tangible fixed assets|-|655|
|(Losses)/Gains on investments|11,313|(20,753)|
|Share of profits of associated undertaking|163,135|(235,203)|
|Interest from investments|(7,558)|(9,334)|
|Decrease/(increase) in debtors|9,698|(114,884)|
|Increase in creditors|222,388|306,697|
|Increase in provision|5,398|13,590|
|**Net cash provided by operating activities**|352,530|371,595|





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## 

||**2023**|**2022**|
|---|---|---|
||£|£|
|Cash at bank and in hand|2,444,762|2,105,800|
|**Total cash and cash equivalents**|2,444,762|2,105,800|



## 

||**At 1 April **|**Cash flows **|**At 31 March**|
|---|---|---|---|
||**2022**||**2023**|
||£|£|£|
|Cash in hand|2,105,800|338,962|2,444,762|
||2,105,800|338,962|2,444,762|



## 

## 

||**2023**|**2022**|
|---|---|---|
||£|£|
|Amounts due within one year|27,863|69,685|
|Amounts due between 1 and 5 years|-|-|
|Total|27,863|69,685|





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