COMPANY REGISTRATION NUMBER: N1021056
CHARITY REGISTRATION NUMBER: 100787
Advice Space
Company Limited by Guarantee
Financial Statements
31 March 2024
Finegan Gibson Ltd
Chartered accountants & statutory auditor
Causeway Tower
9 James Street South
Belfast
BT2 8DN

Advice Space
Company Limited by Guarantee
Financial Statements
Year ended 31 March 2024
Page
Trustees. annual report (incorporating the director's report)
Independent auditor's report to the members
Statement of financial activities (including income and
expenditure account)
12
Statement of financial position
13
Statement of cash flows
14
Notes to the financial statements
15
The following pages do not form part of the financial statements
Detailed statement of financial activities
26
Notes to the detailed statement of financial activities
27

Advice Space
Company Limited by Guarantee
Trustees. Annual Report (Incorporating the Director's Report)
Year ended 31 March 2024
The trustees, who are also the directors for the purposes of company law, presenl their report and the
financial slatemenls of the charity for the year ended 31 March 2024.
Reference and administratlve details
Registered charity name
Advice Space
Charlty reglstratlon number
100787
Company registration number N1021056
Principal office and registered Merrion Business Centr6
office
58 Howard Street
Belfast
BT16JP
The trustees
C Trotter
E Dorrian
R Blythe
l Davison
P Mccartan
(Appointed 15 August 2023)
(Resigned 21 May 20241
Company secretary
Patrick Colton
Auditor
Finegan Gibson Ltd
Chartered accountants & statutory auditor
Causeway Tower
9 James Street South
Belfast
BT2 8DN
Bankers
Danske Bank
PO Box 183
Donegall Square West
Belfast
BT16JS

Advice Space
Company Limited by Guarantee
Trustees. Annual Report (Incorporating the Director's Report) (conlinued)
Year ended 31 March 2024
Structure, governance and management
Governlng Document
Advice Space is a company limited by guarantee governed by its Memorandum and Articles of
Association dated 2018. Advice Space is a registered charity with the Charity Commission for
Northern Ireland. Advice Space is a membership organisation with each trustee agreeing to conlribute
£1 in the event of the charity winding up.
Appolntment of Trustees
The Chairperson and the trustees recruit and select new trustees as needed. New trustees are
recruited on the relevance of their professional skills, and their polenlial to be able to make a helpful
contribution to the governance of the charity. As part of Ihe recruitment process they are made aware
of a trustees, legal obligations under charity and company law. the contenl of the Memorandum and
Articles of Association, the committee and decision making processes, the business plan and recent
financial performance of the charity.
Trustee induction and training
All trustees undertake a 2-stage formal inducllon process with the Chair and the CEO, learning about
the operational aspects of the service. All truslees are members of C03 and have the potential to
receive training on all aspecls of governance and the opportunity to network with colleagues across
the charitable and voluntary network.
Arrangements for setting pay and remuneration of key management personnel
The charity's truslees, and the senior management team comprise the key management personnel of
the charity in charge of directing and controlling, running and operating the charity on a day-to-day
basis. All trustees give of their time freely and no trustee received remuneration in the year. The pay of
Ihe senior staff is reviewed annually and is considered as part of the organisalional salary review
process. In view of the nature of the charity, the trustees benchmark against pay levels in other
similar size charilies run on a voluntary basis.
Organlsatlon structure and how charity makes decisions
The Board of trustees administer the charily. A Chief Executive is appointed by the trusteès lo
manage the day-to-day operations of the charity. To facilitate effective operations, Ihe Chief Executive
has delegated authority, within terms of delegalion approved by the trustees, for operational matters
including finance, employmenl and direct charitable activities.
Relationships with related parties
None of the trustee5 receive remuneralion or other benefit from their work with Advi￿ Space.
Risk Management
The Trustees have a risk management strategy which comprises..
the establishment of policies, systems and procedures to idenlify, control and miligate risks,.
an annual review of the principal risks and uncertainties that the charity faces., and
the implementation of procedures designed to minimise or manage any potential impact on the

Advice Space
Company Limited by Guarantee
Trustees. Annual Report (Incorporating the Director's Report) (continued)
Year ended 31 March 2024
charity should those risks materialise.
Objectives and activities
The purposes of the charity are.. to promote any charitable purpose for the benefit of the community in
Northern Ireland by ihe advancement of education, the protection and preservation of health and the
relief of poverty, sickness and distress.
In shaping our objectives for the year and planning our aclivities. the trustees have considered the
Charity Commission's guidance on public benefit.
The charity's aims and objectives for the period 2024-29 are centred on the following..
Improving lives and promoting well-being by helping more people in our community to exercise
Iheir rights and obtain fair treatment under the law.,
Delivering an independent high-quality comprehensive welfare rights service which includes
working collaboratively with Irusted partners..
Using evidence lo inform and influence positive change.,
Being recognised as highly motivated, reliable and trusted experts.,
Ensuring effective gOVernan￿-,
Ensuring the charity has appropriate accommodation that meets organisational need;
Achieving Financial Sustainability.
Our services are negotiated and organised in line wilh our original purpose and we partner with other
organisations whereby our mission and purpose are closely aligned.
In addition to Advice Space employees. our services are also supporled through volunteer
involvement both al trustee and frontline advice level.
Achievements and performance
The organisalion has achieved the award of Investing in Volunteers.
During the reporting period 2023124 more than 26,160 contacts were made with the service resulting
in 90,166 queries that Advice Space provided assistance with.
Financial gains identifièd by advisers on behalf of clients was higher than the previous year amounting
to £9.838,730.

Advice Space
Company Limited by Guarantee
Trustees. Annual Report (Incorporating the Director's Report) (continued)
Year ended 31 March 2024
Flnancial review
The annual accounts for the year ended 31 March 2024 show total income of £1,111,296., total
expenditure of £1,152,203 and a deficil for the year of £40,907. The Board of trustees continue to
exercise tight control over expenditure and the current level of reserves places Advice Space on a
solid financial fooling going forward.
Reserves policy and going concern
Resetves are needed to bridge Ihe timing gap between spending and receiving of income and to cover
unplanned temporary shortfalls in income should Ihey arise and also to provide ￿ntIngenCY for sound
financial planning assumptions. Holding adequate reseNes safeguards the provision of our services in
the event of unexpected significant financial pressures. The Iruslees consider thal the ideal level of
reserves would be al least 3 months, expenditure for the year ended 31 March 2024., an amount to
cover ststutory redundancy and pay-in-lieu awards in the event of an unforeseen winding up and
provision for unforeseen expenditure. Advice Space reseNes policy sels this out and demonstrates
the currenl target level desired should be £492,880.
Unrestricted reserves at our year end freely available to spend, excluding fixed assets, restricted
resetves and designated reserves amount to £535,108. The Board are pleased with the progress Ihal
has been made to ensure the target reserves level is met. The truslees believe this represents a
sufficient level of reserve lo ensure that the going concern assumption is appropriate and continues to
monitor this on a regular basis and review the policy annually. Advice Space has further committed to
to developing an income Generation Strategy alongside the new 2024-29 Strategic Plan.
Plans for future periods
As part of the Advice Space new Slralegic Plan 2024-25. the Trustee Board is committed to looking at
Trustee growth and succession and is taking further steps to increase the size and skillset of the
urrent Trustee Board.
As part of Advice Space future governan￿ planning a Terms of Reference has been agreed for a new
Finance sub-commitlee to look in depth at financial planning, income generation. investment plans,
financial management infomiation, annual accounts and the internal controls framework in order to
provide insight and make recommendations to the full Trustee Board were relevant. This will provide
more time for Trustees to focus on strategy and growth whilst also providing a focus on the charity
finances. This sub-committee will begin lo meel 2-4 limes per annum from Sept24.
Trustees, responsibilities statement
The Irustees, who are also diredors for Ihe purposes of company law. are responsible for preparing
the truslees, report and the financial statements in accordance with applicable law and United
Kingdom Accounling Slandards (United Kingdom Generally Accepted Accounting Practice).
Company law requires the charty trustees to prepare financial statements for each year which give a
true and fair view of the slate of affairs of the charitable company and Ihe incoming resources and
application of resources. including the income and expendilure, for that period.

Advice Space
Company Limited by Guarantee
Trustees, Annual Report (Incorporating the Director's Report) (continuedj
Year ended 31 March 2024
In preparing these financial statements, the trustees are required to..
seled suitable accounting policies and then apply them consistenlly.,
observe the melhods and principles in the applicable Charities SORP.,
make judgments and accounting estimates that are reasonable and prudent.,
prepare the financial statements on the going concèrn basis unless it is inappropriate to presume
that the charity will continue in business.
The trustees are responsible for keeping adequate accounting records that are sufficient to show and
explain the chariws transactions and disclose wilh reasonable accuracy at any lime the financial
position of Ihe charity and enable them to ensure that the financial statements comply with the
Companies Act 2006. They are also responsible for safeguarding the assets of Ihe charity and hen
for tsking reasonable steps for the prevention and detection of fraud and other irregularities.
Auditor
Each of the persons who is a trustee at the date of approval of this report confirms that:
so far as they are aware, there is no relevant audit information of which Ihe charity's auditor is
unaware; and
they have tsken all steps that they ought to have taken as a trustee to make themselves aware of
any relevant audit information and to estsblish that the charity's auditor is aware of that
information.
The auditor is deemed to have been re-appointed in accordance with section 487 of the Companies
Act 2006.
Small company provisions
This report has been prepared in accordance with the provisions applicable to companies enlitled lo
the small companies exemption.
The trustees. annual report was approved on 15 October 2024 and signed on behalf of the board of
trustees by=
C Trotter
Truslee
P Mccartan
Trustee
c¥

Advice Space
Company Limited by Guarantee
Independent Auditor's Report to the Members of Advice Space
Year ended 31 March 2024
Opinion
We have audited the financial statements of Advice Space {the 'charily'l for the year ended
31 March 2024 which comprise the statement of financial activities {including income and expenditure
account), statement of financial position, ststement of cash flows and the related notes. including a
summary of significant accounting policies. The financial reporting framework that has been applied in
their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 The
Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally
Accepted Accounting Practice).
In our opinion the financial slatements..
give a true and fair view of the state of the charity's affairs as at 31 March 2024 and of its
incoming resources and application of resources. including ils income and expenditure. for the
year Ihen ended.,
have been properly prepared in accordance with United Kingdom Generally Accepted
Accounting Praclice.,
have been prepared in accordance with the requirements of the Companies Acl 2006.
Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) {ISAs (UKII and
applicable law. Our responsibilities under those standards are further described in the auditorfs
responsibilities for the audit of the financial statements section of our report. We are independent of
the charity in accordance with the ethical requirements that are relevant to our audit of the financial
ststements in the UK, including ihe FRC'S Ethical Standard. and the provisions available for small
entities. in the circumstances set out in nole 24 to the financial statemenls, and we have fulfilled our
other ethical responsibilities in accordance with these requirements. We believe that the audil
eviden￿ we have obtained is sufficient and appropriate to provide a basis for our opinion.
Conclusions relating to going concern
In auditing the financial statements, we have concluded that the trustees, use of the going concern
basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed. we have not identified any material uncertainties relating to
events or conditions that, individually or collectively. may cast significant doubt on the Gharity's ability
to continue as a going concern for a period of at least twelve months from when the financial
statements are authorised for issue.
Our responsibilities and the responsibilities of the trustees with resped to going concern are described
in the relevant sections of this report.

Advice Space
Company Limited by Guarantee
Independent Auditor's Report to the Members of Advice Space (continued)
Year ended 31 March 2024
other Informatlon
The other information comprises Ihe information included in the annual report, other than the financial
statements and our auditorfs report Ihereon. The trustees are responsible for the other information.
Our opinion on the financial statements does not cover the other information and. except to the extent
otherwise explicilly stated in our report, we do not express any fomi of assurance conclusion Ihereon.
In connection with our audit of the financial statements. our responsibility is to read the other
information and. in doing so, consider whether the other information is materially inconsistent with the
financial statements or our knowledge obtained in the audit or otherwise appears to be materially
misstated. If we identify such material inconsistencies or apparent material misstatements, we are
required to determine whether there is a material misstatement in the financial statements or
material misstatement of the other information. If, based on the work we have performed. we conclude
that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to reporl in this regard.
Opinions on other matters prescribed by the Companies Act 2006
In our opinion. based on the work undertaken in the course of the audit..
the information given in the truslees. report for the financial year for which the financial
slatements are prepared is consistent with the financial statements., and
the trustees, report has been prepared in accordance with applicable legal requirements.
Matters on which we are requlred to report by exception
In the light of Ihe knowledge and understanding of the charity and its environment obtained in the
course of the audit. we have not identified material misstatements in the trustees. reporL
We have nothing to report in respect of the following matters in relation to which the Companies Act
2006 requires us to report to you if, in our opinion..
adequate accounting records have not been kept. or retums adequate for our audit have not
been received from branches not visited by us. or
the financial statements are not in agreement with the accounting records and returns,. or
certain dis¢losures of trustees. remuneration specified by law are not made., or
we have not received all the information and explanalions we require for our audit., or
the trustees were not entitled to prepare the financial statements in accordance with the small
companies regime and take advantage of the small companies. exemptions in preparing the
director5, report and from the requirement to prepare a strategic report.

Advice Space
Company Limited by Guarantee
Independent Auditor's Report to the Members of Advice Space (continu8dJ
Year ended 31 March 2024
Responslbllitles of trustees
As explained more fully in the trustees, responsibilities statement, the Iruslees (who are also the
directors for the purposes of company law) are responsible for the preparation of the financial
stalemenls and for being satisfied th81 Ihey give a Irue and fair view, and for such internal control as
the trustees determine is necessary to enable the preparation of financial statements thal are free
from material misstatement, whether due to fraud or error.
In preparing ihe financial statements, Ihe trustees are responsible for assessing the charity's ability lo
continue as a going concern, disclosing, as applicable, matters related to going concern and using the
going concern basis of accounting unless the trustees either intend to liquidate the charity or to cease
operations, or have no realistic alternative but to do so.

Advice Space
Company Limited by Guarantee
Independent Auditor's Report to the Members of Advice Space {continu•d)
Year ended 31 March 2024
Audltovs responsibilities for the audit of the flnanclal statements
Our objectives are to oblain reasonable assurance about whether the financial statements as a whole
are free from material misstatement, whelher due to fraud or error. and to issue an auditor's report that
includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that
an audit conducted in accordance with ISAS (UK) will always delect a material misslatement when it
exists. Misstslements can arise from fraud or error and are considered material if, individually or in the
aggregate, they could reasonably be expected lo influence the economic decisions of users taken on
the basis of these financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design
procedures in line with our responsibilities, outlined above, to detect material misstatements in respect
of irregularities. including fraud. The extent to which our procedures are Capable of detecling
irregularities, including fraud is detailed below..
In identifying and assessing risks of material misslatement in respect of irregularities, including fraud
and non-compliance wilh laws and regulalions, we considered the following-.
the nature of the industry and sector, control environment and business performance including the
design of the remuneration policies, key drivers for directors, remuneration, bonus levels and
performance targets.,
results of our enquiries of management about their own identification and assessment of the risks
of irregularities.,
any matters we identified having obtsined and reviewed documenlation of their policies and
procedures relating to:
identifying, evaluating and complying with laws and regulations and whether
management were aware of any instances of non-compliance"
delecling and responding to the risks of fraud and whether management have knowledge
of any actual. suspected or alleged fraud,.
the internal conlrols eslablished to mitigate risks of fraud or non-compliance wilh laws
and regulalions.
the matters discussed among the audit engagement team including significant component audit
teams and relevant internal specialists, including tsx and valuations specialists regarding how and
where fraud might occur in the financial statements and any potential indicators of fraud.
As a result of these procedures. we considered the opportunities and incenltves that may exist within
the organisation for fraud and identified the greatest potential for fraud. In common with all audits
under ISAS (UKI. we are also required to perform specific procedures to respond to the risk of
management override.
We also obtained an understanding of Ihe legal and regulatory frameworks in operation, focusing on
provisions of those laws and regulations Ihat had a direct effect on the determination of material
amounts and disclosures in the financial statements. The key laws and regulations we considered in
this context included ongoing compliance with the UK Companies Art and lax legislalion. In addition,
we considered provisions of other laws and regulations that do not have a direct effect on the financial
5tstements but compliance with which may be fundamental for their ability to operate or to avoid a
material penalty.

Advice Space
Company Limited by Guarantee
Independent Auditor's Report to the Members of Advice Space {eontinued)
Year ended 31 March 2024
As part of an audit in accordance with ISAS {UK), we exercise professional judgment and maintain
professional scepticism throughout the audit. We also..
Identify and assess the risks of material misstatement of the financial statements, whether due to
fraud or error. design and perform audit procedures responsive lo those risks, and obtain audit
evidence that is sufficient and appropriale lo provide a basis for our opinion. The risk of not
detecting a material misstatement resulting from fraud is higher than for one resulting from error.
as fraud may involve collusion. forgery. intentional omissions, misrepresentations, or the override
of internal control.
Obtain an understanding of internal conlrol relevant to the audit in order to design audit
procedures that are appropriate in Ihe circumstances, but not for the purpose of expressing an
opinion on the effectiveness of the internal control.
Evaluate the appropriateness of accounting policies used and the reasonableness of accounting
estimates and related disclosures rnade by the trustees.
Conclude on the appropriateness of the trustees, use of the going concern basis of accounting
and. based on the audit evidence obtained, whether a material uncertainty exists related to
events or conditions that may cast significant doubt on the charity's ability to continue as a going
concern. If we conclude that a material uncertainty exists, we are required to draw attention in
our audilor's report lo the related disclosures in the financial statements or. if such disclosures
are inadequate. to modify our opinion. Our conclusions are based on the audit evidence obtained
up to the date of our auditor's report. However, future events or conditions may cause the charity
to cease to continue as a going concern.
Evaluate the overall presentation, structure and content of the financial slalements, including the
disclosures. and whether Ihe financial stalements represent the underlying transactions and
events in a manner that achieves fair presentation.
We communicale with those charged with governance regarding. among other matters, the planned
scope and timing of the audil and significant audit findings, including any significant deficiencies in
internal control that we identify during our audit.
10

Advice Space
Company Limited by Guarantee
Independent Auditor's Report to the Members of Advice Space (eontlnued)
Year ended 31 March 2024
As explained more fully in the Trustees, Responsibilities Statement (set out on page 4-51. the trustees
are responsible for the preparation of the financial slatemenls and for being satisfied that they give a
true and fair view. Our responsibility is to audit and express an opinion on the financial statements in
accordance wilh applicable law and Intemational Standards on Auditing (UK). Those stsndards
require us to comply with the Financial Reporting Council's {FRC's) Ethical Standard for Auditors,, in
the circumstances set out in note 24 lo the financial statements.
Use of our report
This report is made solely to the charity's members, as a body, in accordan￿ with Chapter 3 of Part
16 of the Companies Act 2006. Our audit work has been undertaken so that we might state lo the
charity's members those matters we are required to slate lo them in an auditor's report and for no
other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to
anyone olher than the charity and the charity's members as a body. for our audit work, for this report,
or for the opinions we have formed.
Conor Dolan FCA (Senior Statutory Auditor)
For and on behalf of
Finegan Gibson Ltd
Chartered accountants & slalutory auditor
Causeway Tower
9 James Street South
Belfast
BT2 8DN
15 October 2024
11

Advice Space
Company Limited by Guarantee
Statement of Financial Activities
(including income and expenditure account)
Year ended 31 March 2024
2024
Restricted
funds Total funds Total funds
2023
Unrestricted
funds
Note
Income and endowments
Donations and legacies
Charitable activities
Other Irading activities
Investment income
798
65,194
6,000
1,198
798
1,103,300
6,000
1,198
1.111,296
370
1,073,191
6,000
1,259
1,038,106
Total income
73,190
1,038,106
1,080.820
Expenditure
Expenditure on charitable activities
Total expenditure
114,097
114,097
1,038,106
1,152,203
1,015.924
1,038,106
1.152,203
1,015,924
Net (expenditure)lincome and nèt
movement in funds
{40,9071
140,907)
64,896
Reconciliation of funds
Total funds brought fO￿ard
Total funds carried forward
649.353
24,530
673,883
608,987
608,446
24,530
632,976
673,883
The slatement of financial activities includes all gains and losses recognised in the year.
Ail income and expenditure derive from continuing activilies.
The notes on pages 15 to 24 form part of these financlal statements.
12

Advice Space
Company Limited by Guarantee
Statement of Financial Position
31 March 2024
2024
2023
Nots
Fixed assets
Tangible fixed assets
15
73,338
81,262
Current assets
Debtors
Cash at bank and in hand
16
94,753
521,125
615,878
66,633
570,310
636,943
Creditors: amounts falling due within one year
Net current assets
17
(56,240)
559,638
632,976
144,322)
592.621
Total assets less current Ilabilltles
673,883
Net assets
632,976
673.883
Funds of the charity
Restricted funds
Unrestricted funds
24,530
608.446
24,530
649,353
Total charity funds
19
632,976
673.883
These financial statements have been prepared in accordance with the provisions applicable to
companies subject to the small companies, regime.
These financial statements were approved by the board of trustees and authorised for issue on 15
October 2024, and are signed on behalf of the board by..
C Trotter
Trustee
P M¢Cartan
Trustee
The notes on pages 15 to 24 form part of these financial statements.
13

Advice Space
Company Limited by Guarantee
Statement of Cash Flows
Year ended 31 March 2024
2024
2023
Cash flows from operating activities
Net {expenditure)linoome
(40.907)
64,896
Adjustments for..
Deprecialion of tangible fixed assets
Dividends, interest and rents from investmenls
Interest payable and similar charges
Accrued expensesllincomel
9,321
{1.198)
697
2,052
9,345
(1,2591
118
{7991
Changes in..
Trade and other debtors
Trade and other creditors
128,120}
9.866
(4,7721
19,641
Cash generated from operations
{48.289)
87,170
Interest paid
Net cash {used inllfrom operating activities
(6971
148,986)
1118)
87.052
Cash flows from investing activities
Dividends. interest and rents from investments
Purchase of tangible assets
Net cash (used inllfrom investing aclivilies
1,198
(1,3971
{199)
1,259
1,259
Net {decrease)Ilncrease in cash and cash equivalents
Cash and cash equivalents at beginning of year
Cash and cash equivalents at end of year
149,185)
570.310
88,311
481,999
521.125
570,310
The notes on pages 15 to 24 fomi part of these financial statements.
14

Advice Space
Company Limited by Guarantee
Notes to the Financial Statements
Year ended 31 March 2024
General information
The charity is a public benefit entity and a private company limited by guarantee. registered in
Northern Ireland and a registered charity in Northern Ireland. The address of the registered office
is Merrion Business Centre, 58 Howard Street, Belfast, BT1 6JP.
Statement of compliance
These financial stalements have been prepared in compliance wilh FRS 102. 'The Financial
Reporting Standard applicable in Ihe UK and the Republic of Ireland,, the Statement of
Recommended Practice applicable to charities preparing their accounts in accordance wilh the
Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 1021 (Charities
SORP IFRS 102)) and the Companies Act 2006.
Accounting policies
Basis of preparatlon
The financial statements have been prepared on the historical cost basis, as modified by Ihe
revaluation of certain financial assets and liabilities and investment properties measured at fair
value through income or expenditure.
The financial statements are prepared in Sterling, which is the functional currency of the entily.
Going concern
There are no material uncertainties about the charivs ability to continue.
Judgements and key sources of estimation uncertainty
The principal accounting policies adopted. judgements and key sources of estimation uncertainty
in the preparalion of the financial statements are as follows..
Fund accounting
Unrestricted fvnds are available for use at the discretion of the trustees to further any of the
Charity's purposes.
Designated funds are unreslricted funds earmarked by the trustees for particular future project or
commilment.
Restricted funds are subjected to restriclions on their expendilure declared by the donor or
through the terms of an appeal, and fall into one of two sub-classes.. restricted income funds or
endowment funds.
15

Advice Space
Company Limited by Guarantee
Notes to the Financial Statements (contlnuedj
Year ended 31 March 2024
Accounting policies fcontinue
Incoming resources
All incoming resources are included in the statemenl of financial activities when entitlement has
passed to the charity., it is probable that the economic benefits associated with the transaction
will flow to the charity and the amount can be reliably measured. The following specific policies
are applied to particular categories of income..
income from donations or granls is recognised when there is evidence of entitlement lo Ihe
gift, receipt is probable and its amounl can be measured reliably.
legacy income is recognised when receipt is probable and entiUement is established.
income from donated goods is measured at the fair value of the goods unless this is
impractical to measure reliably, in which case the value is derived from the cost to the donor
or the estimated resale value. Donated facilities and services are recognised in the
accounts when received if the value can be reliably measured. No amounts are included for
the contribution of general volunteers.
income from contracts for the supply of services is recognised with the delivery of the
contracted service. This is classified as unrestricted funds unless there is a contractual
requirement for it to be spenl on a particular purpose and returned if unspent, in which case
it may be regarded as restricted.
Resources expended
Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any
VAT which cannot be fully recovered. and is classified under headings of the slatement of
financial activities to which it relates..
expenditure on raising funds includes the costs of all fundraising activities, events.
non-charitable trading activities, and the sale of donated go¢)ds.
expenditure on Charitable activities includes all costs incurred by a Charity in undertaking
aclivities that further its charitable aims for the beneffit of its beneficiaries, including Ihose
support costs and costs relating to the governance of Ihe charity apportioned to charitable
activities.
other expenditure includes all expenditure that is neither related lo raising funds for the
charity nor part of its expenditure on charitable activilies.
All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs
attributable to a single activity are allocated directly to that activity. Shared costs are apportioned
be￿een the activities they contribute to on a reasonable, justifiable and consistenl basis.
Tangible assets
Tangible assels are initially recorded at cost, and subsequently stated al cost less any
accumulated depreciation and impairment losses. Any tangible assets carried at revalued
amounts are recorded at the fair value at Ihe date of revaluation less any subsequenl
accumulaled depreciation and subsequent accumulated impairment losses.
16

Advice Space
Company Limited by Guarantee
Notes to the Financial Statements {conlinu•dJ
Year ended 31 March 2024
Accountlng policies (¢ontinued)
Tangible assets feontinu8d)
An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other
recognised gains and losses, unless it reverses a charge for impairment Ihat has previously been
recognised as expenditure within the statement of financial aclsvities. A decrease in the carrying
amount of an asset as a result of revaluation, is recognised in other recognised gains and losses,
except to which it offsets any previous revaluation gain, in which case the loss is shown within
other recognised gains and losses on the statement of financial activities.
Depreciation
Deprecialion is calculated so as to write off the cost or valuation of an asset, less its residual
value, over thè useful economic lrfe of that asset as follows..
Freehold property
Equipment
4 % slraight line
200/0 Straight line
Impairment of flxed assets
A review for indicators of impairment is carried out at each reporting date, with Ihe recoverable
amount being estimated where such indicators exist. Where the carrying value exceeds the
recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for
possible reversal at each reporting date.
For the purposes of impairment lesling, when it is not possible to estimate the recoverable
amount of an individual asset. an estimate is made of the recoverable amount of the
cash-generating unil to which the asset belongs. The cash-generating unit is the smallest
identifiable group of assets that includes the asset and generates cash inflows that largely
independent of the cash inflows from olher assets or groups of assets.
Financial instruments
A financial asset or a financial liability is recognised only when Ihe charity becomes a party to the
contractual provisions of the instrument.
Basic financial instruments are initially recognised at the amount receivable or payable including
any relaled transaction cosls.
Current assets and current liabilities are subsequently measured at the cash or other
consideration expected to be paid or received and not discounled.
Debt instruments are subsequently measured at amortised cost.
Wher8 investments in shares are publicly traded or Iheir fair value can otherwise be measured
reliably, the investment is subsequently measured at fair value wilh changes in fair value
recognised in income and expenditure. Al other such investments are subsequently measured at
cosl less impairment.
17

Advice Space
Company Limited by Guarantee
Notes to the Financial Statements (contlnued)
Year ended 31 March 2024
Accounting policies f¢on¢inuedJ
Flnanclal Instruments (continued)
Other financial instruments, including derivatives, are initially recognised at fair value, unless
payment for an asset is deferred beyond normal business terms or financed al a rate of interest
that is not a market rate. in which case the asset is measured al the present value of the future
payments discounled at a market rate of interest for a similar debt instrument.
Other financial instruments are subsequenlly measured at fair value. with any changes
recognised in the ststement of financial activities. with the exception of hedging instruments in a
designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence
of impairment al the end of each reporting date. If there is objective evidence of impairment, an
impairment loss is recognised under the appropriate heading in the statement of financial
activities in which the initial gain was recognised.
For all equity instruments regardless of significance, and other financial assets that are
individually significant. these are assessed individually for impairment. Olher financial assels are
eilher assessed individually or grouped on the basis of similar credit risk characteristics.
Any reversals of impairment are recognised immediately, to the extent that the reversal does not
result in a carrying amount of the financial asset that exceeds what the carrying amount would
have been had the impairment not previously been recognised.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which
the related Servi￿ is provided. Prepaid contributions are recognised as an asset to the extent
that the prepayment will lead to a reduction in ftjture payments or a cash refund.
When contributions are not expected to be settled wholly within 12 monlhs of the end of the
reporting date in which the employees render the related service, the liability is measured on a
discounted present value basis. The unwinding of the discount is recognised as an expense in
Ihe period in which it arises.
Limited by guarantee
Each of the members of the company has guaranteed to contribute to the assels of the company
in the event of the same being would up to the extent of £1.
Donations and lega¢ies
Unrestricted Total Funds Unreslricled Total Funds
Funds
2024
Funds
2023
Donatlons
Donations
798
798
370
370
18

Advice Space
Company Limited by Guarantee
Notes to the Financial Statements fcontinU8dJ
Year ended 31 March 2024
Charitable activities
Unrestricted
Funds
Restricted Total Funds
Funds
2024
Belfast City Council
Macmillan
Welfare Reform
Belfast HSCT
NICHS
Telephonic services
Cystic Fibrosis
Other Income
Cedar
Pension Wise
Advice Nl Debt
Positive Life
1,500
461,794
307.625
140,992
127,695
463,294
307,625
140,992
127,695
15,732
10,201
9.704
6.540
6.500
5.863
5.798
3,356
15,732
10.201
9,704
6,540
6.500
5,863
5,798
3,356
65,194
1,038,106
1,103,300
Unrestricted
Funds
Restricted Total Funds
Funds
2023
Belfast City Council
Macmillan
Welfare Reform
Belfast HSCT
NICHS
Telephonic services
Cystic Fibrosis
Other Income
Cedar
Pension Wise
Advice Nl Debt
Positive Life
475.604
274.074
140,992
123.367
475.604
274,074
140,992
123,367
14,385
11,944
9.704
6.540
6,500
6,600
14,385
11.944
9.704
6,540
6.500
6.600
3.481
3.481
59,154
1,014,037
1,073,191
other trading activities
Unrestricled Total Funds Unrestricted Total Funds
Funds
2024
Funds
2023
Rentsl income
6,000
6.000
6.000
6,000
19

Advice Space
Company Limited by Guarantee
Notes to the Financial Statements (¢ontinued)
Year ended 31 March 2024
Investment Income
Unrestricted Total Funds Unrestricted Total Funds
Funds
2024
Funds
2023
Bank interest
1,198
1,198
1,259
1,259
Expenditure on charitable activities by activity typo
Activities
undertaken
directly Support costs
Total funds
2024
Total fijnd
2023
Provision of impartial advice to the
general public
Governance costs
930,726
191,912
29,565
1.122,638
29.565
988,536
27,388
930,726
221,477
1.152,203
1,015,924
10. Analysis of support costs
Provision of
impartial
advice to the
general public Total 2024 Total 2023
Staff costs
Premises
Communications and IT
General office
Governance costs
15,131
99,491
49,532
27,758
29,565
15.131
99.491
49.532
27.758
29,565
12.950
97,788
43,327
20,790
27,388
221,477
221,477
202,243
11. Net {expenditure)lin¢ome
Net lexpenditurellincome is stated after chargingl(creditingl-
2024
2023
Depreciation of tangible fixed assets
9,321
9,345
12. Auditors remuneration
2024
2023
Fees payable for the audit of the financial slatements
6,552
6,012
20

Advice Space
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 March 2024
13. Staff costs
The total stsff costs and employee benefits for the reporting period are analysed as follows..
2024
2023
Wages and salaries
Social security cosls
Employer contributions to pension plans
Other employee benefits
681,160
55.039
20,336
6,000
580.556
47,392
19,543
10,000
657,491
762,535
The average head count of ernployees during the year was 28 (2023: 25).
No employee received employee beneffts of more than £60,000 during the year12023.' Nil).
Key Management Personnel
Key management personnel include all persons that have authority and responsibility for
planning, directing and controlling the activities of the charity. The total compensation paid lo key
management personnel for services provided to the charity was £90,235 {2023'.£121,309}.
14. Trustee remuneratlon and expenses
The charity truslees were not paid or received any other benefits from employment with the
Charity in the year {2023'.£Nill. No charity trustee received paymenl for professional or other
service supplies to the Charity12023.' £Nil).
During the year trustess were reimbursed for travel and other expenses totalling £0 (2023: £Nil).
15. Tangible fixed assets
Freehold
property Equipment
Total
Cost
Al 1 April 2023
Additions
197,296
272.191
1,397
469,487
1,397
At 31 March 2024
197,296
273.588
470,884
Depreciation
At 1 April 2023
Charge for the year
At 31 March 2024
118,187
7,892
270.038
1,429
388,225
9,321
126,079
271,467
397.546
Carrying amount
At 31 March 2024
71,217
2,121
73.338
At 31 March 2023
79,109
2,153
81,262
21

Advice Space
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 March 2024
16. Debtors
2024
2023
Trade debtors
Prepayments and accrued income
Other debtors
78,858
10,895
5,000
62.319
4,314
94.753
66.633
17. Credltors: amounts falling duo wlthin one year
2024
2023
Trade creditors
Accruals and deferred income
Social security and other taxes
other creditors
9,367
12,360
14,244
20.269
16,468
10,308
13,119
4,427
56,240
44,322
18. Pensions and other post retirement benefits
Defined contribution plans
The amounl recognised in income or expenditure as an expense in relation to defined
contribution plans was £20,33612023.' £19,543).
19. Analysls of charltable funds
Unrestrlcted funds
At
1 April 2023
At31
Transfers March 2024
Income Expenditure
General funds
649,353
73,190
{114,0971
608,446
At
1 April 2022
At31
Transfers March 2023
Income Expenditure
General funds
584,457
66.783
(43,021)
41.134
649,353
22

Advice Space
Company Limited by Guarantee
Notes to the Financial Statements fcontinu8d)
Year ended 31 March 2024
19. Analysis of charitable funds fcontlnued)
Restrlcted funds
At
1 April 2023
At31
Transfers March 2024
Income Expenditure
Macmillan
Belfast HSCT
Belfast City Council
Belfasl City Council -
Welfare Reform
307,625
127,695
461,794
1307,6251
1127,695)
1461,794)
24,530
140.992
1140,992)
1,038,106 {1,038,1061
24,530
24,530
24,530
Al
1 April 2022
At31
Transfers March 2023
Income Expenditure
Macmillan
Belfasl HSCT
Belfasl City Council
Belfasl City Council -
Welfare Reform
274,074
123,367
475,604
(232,940)
{123.367)
(475,604)
(41,1341
24,530
140,992
{140.992)
{972.903)
24,530
24.530
1,014,037
(41,134)
24,530
Transfer belween restricted and unrestricted funds relates to expenditure recognised in
unrestricted funds in prior year.
20. Analysis of net assets between funds
Unreslricted
Funds
Restricted Total Funds
Funds
2024
Tangible fixed assets
Current assets
Creditors less Ihan 1 year
Net assets
73,338
591.348
{56,240)
608.446
73.338
615,878
(56,2401
632,976
24,530
24,530
Unrestricted
Funds
Restricted Tolal Funds
Funds
2023
Tangible fixed assets
Current assets
Creditors less than 1 year
Net assets
81.262
612,413
(44.322)
649,353
81,262
636,943
144.3221
673.883
24,530
24,530
23

Advice Space
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 March 2024
21. Taxation
The Company is a regislered charity. and as such is entitled to lax exemptions on income and
profits in furtherance of the charity's primary objectives.
22. Analysis of changes in net debt
At
At 1 Apr 2023 Cash flows 31 Mar 2024
Cash at bank and in hand
570,310
(49,1851
521.125
23. Contlngenclos
A contingent liability exists to repay grants received should ￿rtain conditions not be fulfilled by
the charity. In the opinion of the Trustees, the terms of the Letters of Offer have been, or will be.
complied with and no liability is expected.
24. Ethical standards
In common with many other organisations of our size and nature we use our auditors to assist
with the preparation of the financial statements.

Advice Space
Company Limited by Guarantee
Management Information
Year ended 31 March 2024
The following pages do not fonn part of the financial statements.
25

Advice Space
Company Limited by Guarantee
Detailed Statement of Financial Activities
Year ended 31 March 2024
2024
2023
Income and endowments
Donations and legacies
Donations
798
370
Charitable activlties
Belfast City Council
Macmillan
Welfare Reform
Belfast HSCT
NICHS
Telephonic services
Cystic Fibrosis
Other Income
Cedar
Pension Wise
Advice Nl Debt
Positive Life
463,294
307,625
140,992
127,695
15.732
10,201
9.704
6.540
6,500
5.863
5,798
3.356
475,604
274.074
140,992
123,367
14.385
11,944
9,704
6,540
6,500
6,600
3,481
1,103,300
1,073,191
Other trading activities
Rental income
6.000
6,000
Inveslment income
Bank interest
1.198
1,259
Total income
1,111.296
1,080.820
26

Advice Space
Company Limited by Guarantee
Notes to the Detailed Statement of Financial Activities
Year ended 31 March 2024
2024
2023
Expenditure on charltable activities
Provision of impartial advice to the general public
Activities undertaken directy
Wages and salaries
Employer's NIC
Pension costs
Other Employee Costs
Staff Expenses
Volunteer expenses
Partner payments
Training and recruitment
Subscriptions and licences
667,537
53,938
19.929
6,000
1,178
806
133,282
25,500
22,556
568,945
46,444
19,152
10.000
2,361
363
130,042
16,353
20.021
930.726
813,681
Support costs
Wages and salaries
Employer's NIC
Pension costs
Rent
Light and heat
Repairs and maintenance
Insurance
13,623
1,101
407
65,399
10,322
5,036
14.023
11,611
948
391
65,653
11.413
2,304
16,399
E 11
Cleaning
Professional fees
Telephone
IT costs
Depreciation
Printing, postage and stationery
Sundry costs
4,711
8.680
23,643
25.889
9.321
6,713
3,044
2.019
4,216
21,608
21,719
9,345
3,769
3,460
191,912
174,855
Governance costs
Accountancy fees
Audit fees
Governance costs - legal and other professional fees
Bank charges
21.250
6,552
1.066
697
21.258
6,012
118
29,565
27,388
Expenditure on charltable activities
1,152.203
1,015,924
Net {expenditurelllncome
140.907)
64.896
27