Advice Space
Company Llmlted by Guaranteo
Trustees. Annual Report (Incorporatlng the Dlrector's Report)
Year ended 31 March 2024
The trustees. who are a￿0 the directors for Ihe purposes of company law, present their report and Ihe
financial stateménts of the charliy for the year end8d 31 March 2024.
Reference and admlnlstratlve detalls
Reglstered charlty name
Advice Space
Charfty reglstratlon number
100787
Company reglstratlon number N1021056
Prln¢lpal office and règlstered Merrlon Buslness Centre
offl¢e
58 Howard Street
Belfast
BT16JP
The trustèes
C Trotter
E Dorrian
R Blythe
l Davison
P M¢Cartan
(Appointed 15 August 2023)
{Resigned 21 May 2024)
Ccmpany Sovetary
Patrkk Colton
Audltor
Finegan Gibson Ltd
Chartered accountsnts & slaiutory audltor
Causeway Tower
9 James Slreet South
Bellasl
BT2 8DN
Bankers
Danske Bank
PO Box 183
Donegall Squ8re West
Belfasl
BT16JS

Advlce Space
Company Llmlted by Guarantee
Trustees, Annual Report (Incorporatlng the Director's Report) (continued)
Year ended 31 March 2024
Structure. govornanc• and managemènt
Governln9 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 wilh the Charity Commission lor
Northern Ireland, Adv5￿ Space is a m8mbgrshlp organisation wth each trustee agreeing to contflbute
£1 in the event of the charSly wdlng up.
Appolntment of Trustees
The Chairperson and the trustees recruit and sdect new trustees as needed. New trustees are
recrurted on the relevan￿ of thelr professlonal sklls. and thelr polential to be able to make 8 helpfvl
contribution to the governance of the charity. As part of the recruitmenl process they are made aware
of a trusloes, legal obligatlons under charlty and wmpany law, the Content of the Mèmorandum and
Arudes of Association, the commitlè6 and decSsion maklng processes. the business plan gnd r6¢gnl
financial pèrformance of the charity.
rrustee indu¢Uon and tralnlng
All trustees undertake a 2-slage formal induction process - wlth the Chair and the CEO, learning abJut
the operational aspects of the serwice. All trustees are members of C03 and have the potential to
receive Iralning on all aspecls of governance and the opporlunlty to network wlth colleagues 8cro$s
Ihe charitsble and voluntary network.
Arrangements for settlng pay and remunerntion of key managementper50nn
The charity's trustse$. and the senl(Y management team comprise the key management personnèl of
the charty in ¢harge of dlrecling and controlling. running and operating the charty on a day-l04ay
basis. Al truslees glve of their lime treely and DO truste6 received r8muner8tion in the year. The pay of
Ihe senior staff is reviewed annually and is constdered as part of the organisat￿n81 salary revlew
process. In view of the nature of the charlty, the tnjslees benchmark agalnst pay 16vels in other
slmilar size charities run on a voluntary basis.
Organisation structure and how charlty makes declsions
The Board of trvstees adminisler the charity. A Chief Executive is appointed by the trustees lo
manage the day-to-day operatlons of the charily. To facilitate éffective operalions. the Chlef Executive
has dolègated authority. within terms of delegation approved by the trustees, for operational mattèrs
Includlng flnance. emplO￿en1 and rfirect charilable activilles.
Relatlonshlps wlth relatedpartles
None of the trustees recelve Temuneration or other benefit from their work wilh Adv[￿ Space.
Rlsk Manag•ment
The Trustees have a risk management strategy whth ¢omprises.'
the establL8hment of policies, systems and prO￿lUreS to identtty, ¢ontrol and millgate risks;
an annual revlew of the principal risk5 and u￿e[la[ntieS Ihal the charity faces., and
Ihe implementation of procedure5 designed lo minimise or manage any potential impact on the

Advice Space
Company Limited by Guarantee
Trustees. Annual Report (Incorporating the Director's Report) (conlinu8d)
Year ended 31 March 2024
charity should those risks materialise.
ObjgGtiv•s and actlvitlos
The purposes of the charlty are.. to promote any charitable purpose for the benefil Of Ihe community in
Northern Ireland by the advancement of education, the prolection and preservation ol health and the
relief of poverty, sickness and distress.
In shaplng our objectives for the year 8nd planning our activiti'es. the trustees have consldered the
Charlly Commlssion's guldance on public benefft.
The chadlls aims and objeclwes for Ihe Feriod 2024-29 are centred on Ihè following,.
Improvlng Ilves and promoting well-boing by helping more Feople In community lo exerclse
thelr rights and obtsln fa5r treatment under the law..
Delivering an independent highquality comprehensive welfare rights service which includes
working collaboratNely with trusted partners.,
Using evhlence lo infoim and infiuence positive change:
Being recognised as highly molfvated. rellable and trusted exports;
Ensuring effective govemance.,
Ensurfng the Charity has appropriate accomrnodation thal meets organisational need.,
Achleving Financi81 Sustainabdity.
Our services are negotiated and organis8d in lin8 With our original purpose and partner w5th other
organisallons whereby our mlsslon and putposg ar8 close5y aligned.
In addition to Advlce Space employees. our services are also supported through volunteer
Involvement both 8t trustee and frry)Illne advice tevel.
Achievements and performan¢0
The organlsalon h88 achleved the award of Invests'ng in Volunteers.
Durlng the reporting Peri￿J 2023124 more than 26.180 ￿ntscts ￿tre made wlth the service resulllng
in 90,166 queries that Advice Space prov*Jed assistance wilh.
Flnancial gains identified by advisers on behalf of dients was hlgher than Ihe previous year amounllng
10 £9,838.730.

Advice Space
Company Limited by Guarantee
Trustees. Annual Report (Incorporating the Director's Report) (GonHnued)
Year ended 31 March 2024
Flnanclal revlew
Thè annual accounts for the year ended 31 March 2024 show tolal income of £1.111,296: total
expenditurg of £1.152,203 and 3 doficst for the year of £40.9J7. The Board of trustees contlnuè to
exercise light control over expenditure and the current Igvel of reserves pla￿$ Advice Spac6 On 8
solid financial f¢Joling going forward.
ReseThes pollcy and golng Concorn
Res8rve8 are needed to bridge the ljming gap between spending and receiving of Income and to cover
unplanned temporary shortfalls In Income shouhj they arfse and 31so lo provmle contingency for sound
financlal plannlng assumpllons. Holdlng adequale reserves safeguards the wovision of Dur $8Nlces In
Ihe evenl of unexpected signifl¢ant flnanclal pressures. The Iruslees o)nsider thal Ihe Ideal level ol
reserves would be at least 3 months, expendtlure for the year ended 31 March 2024., an amount lo
cover staluloTy redundanGy and pay-in-lleu awards in the event of an unforeseen windlng up and
provision for unforese8n axpenditure. Advice Spacè rasepies policy sets tNs out and demonslralgs
the currenl largel level deslred should be £492,880.
Unreslrl¢led reserves al our year end freely avallable lo spend, excludhg fixed assets, restricted
reserves and designated reservas amount to £535.108. The Board arè pleased wllh the progress that
has been madè to ènsure thè target reserves level is met. Thè trustees belleve thls represènts a
sufficienl level of reserve lo ensure Ihat the golng concem assumption Is approprtate and ¢ontinues lo
monitor this on a regular basbs and review the policy annually. Advice Space has further committèd lo
lo developing an income Gener81ion Strategy alongside the new 2024-29 Strategic Plan.
Plans for future perlod$
As part of Ihe Axlvice Space new Strategic Plan 2024-25. the Trustee Board Is committed lo looklng at
TNslee grovAh and su￿9$10n and Ss lakkng further steps to increase the size and gkillset of the
current Trustee Board.
As part of Advlc6 Space future governance plannlng a Terms of Reference has been agreed for a new
Finance SU￿¢0mmittee to l¢)ok in depth at rinancial planrung. Income generation. invaslment plans,
financial managernent Infom*llon. annual a(￿untS and the internal controls framework in order lo
provide inswJht and mak8 recommendations to the full Trustee Board were relevant. Thls wlll provkle
more tlme for Trustees lo focus on strategy and growth whilsl also providing a focus on the charity
Ilnances. Thls subrycommittee will begin to meet 24 Ilmes per annum from Sept24.
Trustg8s' responslbllltles statement
The trustee5, who are 8lso directors for the purp)sgs of company law. are responslble for preparlng
the trustees, report and the financial statements in accordance with applicable law and Unilod
Kingdom Accounting Standards (Unilod iangdom Generally Accepled Accounling Ptactlce).
Company law requires the charity trustees to prepare financial statements for each yeaT which glve
Irue and fair view of the slate of affairs of tho charitable company and the incomlng resources and
appllcatlon of iesources. including the incomè and expenditure, for that period.

Advlce Space
Company Limited by Guarantee
Trustees, Annual Report (Incorporatlng the Dlrectorfs Report) (Gonllnued)
Year ended 31 March 2024
In preparing these Ilnanci81 stal8ments. the trustees are required to:
select suilable accounting polle￿S and than appty them consE8lenlly',
observe the methods and princi)les in Ihe applicable Charities SORP.,
make Judgments and accounting 8Stlmates that are rea$c￿able and prudent.,
prepar8 the financlal slatement5 on the going ¢onc6rn bast8 unless it is inappropriate to presume
that the charity wlll continue in business.
The trustees ar& responsible for keeping adequate accounting record8 thal are sufficient to show and
explain the ¢harlty'5 transadions and disclose with reasonable accuraw at any time Ihe financlal
posllion of the charity and enable them to ensure that the financlal statement5 comply wlth the
Companlès Act 2006. They are also responslble for Safeguarding the 8ssets of the charfty and hencè
for taklng reasonable stèps for the prevenllon and detecllon of fraud and other Irregularities.
Audltor
Each of the person8 who is a trustee ai the date of approval ofthb reF4)rt confirms that:
so far as they are awa￿, there Is no relevanl audit informatlcffj of vthi¢h the chartty$ auditor is
unaware., and
théy hav8 taken all steps thal they oughl lo have taken as a truste8 to make themsolves aware of
any relevant audit infomiallon and to èstablish that thè charltys auditor Is aware of that
information,
The auditor Is deemed lo h8ve been revappolnled In accordance with secth)n 487 of the Companles
Acl 2006.
Small company provlslons
This report ha$ been prepared In 8wdanLE wllh the provisions applirAble to CCthP8nles enlrtled to
the small companies exemo10n.
The ITuslees' annu81 reprmt was approved ￿ 15 October 2024 and slgned on behalf of the board of
Iruslees by..
C Trotter
Trustee
P M¢Cartan
Trustee