2025-03-31-accounts

COMPANY REGISTRATION NUMBER: NI021056 CHARITY REGISTRATION NUMBER: 100787

Advice Space Company Limited by Guarantee Financial Statements

31 March 2025

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 2025

	Page
Trustees' annual report (incorporating the director's report)	1
Independent auditor's report to the members	6
Statement of financial activities (including income and
expenditure account)	10
Statement offinancial position	11
Statement of cash flows	12
Notestothefinancialstatements	13

Advice Space

Company Limited by Guarantee

Trustees’ Annual Report (Incorporating the Director's Report)

Year ended 31 March 2025

The trustees, who are also the directors for the purposes of company law, present their report and the financial statements of the charity for the year ended 31 March 2025.

Reference and administrative details	Reference and administrative details
Registered charity name	Advice Space
Charity registration number	100787
Company registration number	NI021056
Principal office and registered	Merrion Business Centre
office	58 Howard Street
	Belfast
	BT1 6JP
The trustees
	C Trotter
	E Dorrian
	P Grimley	(Appointed 21 January 2025)
	R Blythe	(Resigned 21 May 2024)
		Davison
	P McCartan
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

1

Advice Space

Company Limited by Guarantee Trustees’ Annual Report (Incorporating the Director's Report) (continued)

Year ended 31 March 2025

Structure, governance and management

Governing 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 contribute £1 in the event of the charity winding up.

Appointment 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 potential to be able to make a helpful contribution to the governance of the charity. As part of the recruitment process they are made aware of a trustees' legal obligations under charity and company law, the content 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 induction process involving meeting with the Chair and/or the CEO to learn about the operational and key governance aspects of Advice Space, meeting some of the staff team and prior to formal election the opportunity to attend a Trustee Board meeting as an invited guest. This process allows the incoming Trustee and advice Space to determine suitability to take up a Trustee role. Once elected all trustees are offered membership of CO3 and where agreed can then receive training on relevant aspects of governance and have the opportunity to network with colleagues across the charitable and voluntary network across the term of tenure.

Arrangements for setting pay and remuneration of key management personnel

The charity's trustees, 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 the senior staff is reviewed annually and is considered as part of the organisational salary review process. In view of the nature of the charity, the trustees benchmark against pay levels in other similar size charities run on a voluntary basis.

Organisation structure and how charity makes decisions

The Board of trustees administer the charity. A Chief Executive is appointed by the trustees to manage the day-to-day operations of the charity. To facilitate effective operations, the Chief Executive has delegated authority, within terms of delegation approved by the trustees, for operational matters including finance, employment and direct charitable activities.

Relationships with related parties

None of the trustees receive remuneration or other benefit from their work with Advice Space.

Risk Management

The Trustees have a risk management strategy which comprises:

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Advice Space

Company Limited by Guarantee Trustees’ Annual Report (Incorporating the Director's Report) (continuea)

Year ended 31 March 2025

• e the establishment of policies, systems and procedures to identify, control and mitigate risks; e an annual review of the principal risks and uncertainties that the charity faces; and e the implementation of procedures designed to minimise or manage any potential impact on the 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 the 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 activities, the trustees have considered the Charity Commission's guidance on public benefit.

The charity's aims and objectives for the period 2024-29 identified in the Strategic Plan are centred on the following:

elmproving lives and promoting well-being by helping more people in our community to exercise their rights and obtain fair treatment under the law;

¢Delivering an independent high-quality comprehensive welfare rights service which includes working collaboratively with trusted partners;

eUsing evidence to inform and influence positive change;

*Being recognised as highly motivated, reliable and trusted experts; eEnsuring effective governance;

eEnsuring the charity has appropriate accommodation that meets organisational need; eAchieving Financial Sustainability.

Our services are negotiated and organised in line with our original purpose and we partner with other organisations whereby our mission and purpose are closely aligned.

Our services also operate through volunteer involvement both at trustee, administrative and frontline advice levels.

Achievements and performance

The organisation has achieved the award of Investing in Volunteers.

During the reporting period 2024/25 a total of 31,156 contacts were recorded as made with the service generating 108,291 queries that they needed assistance with.

Financial gains secured by advisers on behalf of clients that returned to advise Advice Space during the reporting period amounted to £7,846,156.

3

Advice Space

Company Limited by Guarantee

Trustees’ Annual Report (Incorporating the Director's Report) (continued)

Year ended 31 March 2025

Financial review

The annual accounts for the year ended 31 March 2025 show total income of £1,174,535; total expenditure of £1,183,996 and a deficit for the year of £1,373. The Board of trustees continue to exercise tight control over expenditure and the current level of reserves places Advice Space on a solid financial footing going forward.

Reserves policy and going concern

Reserves are needed to bridge the timing gap between spending and receiving of income and to cover unplanned temporary shortfalls in income should they arise and also to provide contingency for sound financial planning assumptions. Holding adequate reserves safeguards the provision of our services in the event of unexpected significant financial pressures. The trustees consider that the ideal level of reserves would be at least 3 months' expenditure based on the current budget; an amount to cover statutory redundancy and pay-in-lieu awards in the event of an unforeseen winding up and some provision for in-year unforeseen expenditure. Advice Space reserves policy sets this out and demonstrates the current target level desired should be £549,066.

Unrestricted reserves at our year end freely available to spend, excluding fixed assets, restricted reserves and designated reserves amount to £539,982. The Board are pleased with the progress that has been made to ensure the target reserves level is met. The trustees believe this represents a sufficient level of reserve to ensure that the going concern assumption is appropriate and continues to monitor this on a regular basis and review the policy annually.

Plans for future periods

Advice Space has developed and approved a new Income Generation Strategy in order to support the organisational Strategic Plan for the period 2024-29 and annual budgets and continues to monitor income levels.

During the 2024-25 financial year the organisation also agreed to invest an agreed level of funds via Evelyn Partners in order to generate higher returns on funds not immediately required for operational day-to-day usage and presently the trustees do not foresee any material impact on future revenues.

Trustees’ responsibilities statement

The trustees, who are also directors for the purposes of company law, are responsible for preparing the trustees’ report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the charity trustees to prepare financial statements for each year which give a true and fair view of the state of affairs of the charitable company and the incoming resources and application of resources, including the income and expenditure, for that period.

4

Advice Space

Company Limited by Guarantee

Trustees’ Annual Report (Incorporating the Director's Report) (continuea)

Year ended 31 March 2025

In preparing these financial statements, the trustees are required to:

• ° select suitable accounting policies and then apply them consistently;

• ° observe the methods and principles in the applicable Charities SORP;

• ° make judgments and accounting estimates that are reasonable and prudent;

• ° prepare the financial statements on the going concern 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 charity's transactions and disclose with reasonable accuracy at any time the financial position of the 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 the charity and hence for taking 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 the charity's auditor is unaware; and

• ° they have taken all steps that they ought to have taken as a trustee to make themselves aware of any relevant audit information and to establish 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 entitled to the small companies exemption.

The trustees' annual report was approved on 14 October 2025 and signed on behalf of the board of trustees by:

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TrusteeC Trotter “ TrusteeP McCartan d CLL’
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5

Advice Space

Company Limited by Guarantee Independent Auditor's Report to the Members of Advice Space

Year ended 31 March 2025

Opinion

We have audited the financial statements of Advice Space (the 'charity') for the year ended 31 March 2025 which comprise the statement of financial activities (including income and expenditure account), statement of financial position, statement 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 statements:

• e give a true and fair view of the state of the charity's affairs as at 31 March 2025 and of its incoming resources and application of resources, including its income and expenditure, for the year then ended;

• ° have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice;

• e have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the auditor's 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 statements in the UK, including the FRC’s Ethical Standard, and the provisions available for small entities, in the circumstances set out in note 27 to the financial statements, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence 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 charity'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 respect to going concern are described in the relevant sections of this report.

6

Advice Space

Company Limited by Guarantee

Independent Auditor's Report to the Members of Advice Space (continuea)

Year ended 31 March 2025

Other information

The other information comprises the information included in the annual report, other than the financial statements and our auditor's report thereon. 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 explicitly stated in our report, we do not express any form of assurance conclusion thereon.

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 a 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 report 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:

• e the information given in the trustees' report for the financial year for which the financial statements 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 required to report by exception

In the light of the 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’ report.

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:

• e adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or

• ° the financial statements are not in agreementwith the accounting records and returns; or

• ° certain disclosures of trustees’ remuneration specified by law are not made; or

• e we have not received all the information and explanations 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 directors’ report and from the requirement to prepare a strategic report.

7

Advice Space

Company Limited by Guarantee

Independent Auditor's Report to the Members of Advice Space (continueg)

Year ended 31 March 2025

Responsibilities of trustees

As explained more fully in the trustees' responsibilities statement, the trustees (who are also the directors for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the charity's ability to 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.

Auditor's responsibilities for the audit of the financial statements

As explained more fully in the trustees' responsibilities statement, the trustees (who are also the directors for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

Our responsibility is to audit and express an opinion on the financial statements in accordance with applicable law and International Standards on Auditing (UK). Those standards require us to comply with the Financial Reporting Council's (FRC's) Ethical Standard for Auditors’, in the circumstances set out in note 27 to the financial statements.

In preparing the financial statements, the trustees are responsible for assessing the charity's ability to 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.

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Advice Space

Company Limited by Guarantee

Independent Auditor's Report to the Members of Advice Space (continueg)

Year ended 31 March 2025

As explained more fully in the Trustees' Responsibilities Statement (set out on page 4-5), the trustees are responsible for the preparation of the financial statements 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 with applicable law and International Standards on Auditing (UK). Those standards require us to comply with the Financial Reporting Council's (FRC's) Ethical Standard for Auditors’, in the circumstances set out in note 27 to the financial statements.

Use of our report

This report is made solely to the charity's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charity's members those matters we are required to state to 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 other 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.

ae SS CO

Conor Dolan FCA (Senior Statutory Auditor)

For and on behalf of Finegan Gibson Ltd Chartered accountants & statutory auditor Causeway Tower 9 James Street South Belfast BT2 8DN

14 October 2025

9

Advice Space

.

Company Limited by Guarantee

Statement of Financial Activities

(including income and expenditure account)

Year ended 31 March 2025

			2025		2024
		Unrestricted	Restricted
		funds	funds	Totalfunds	Total funds
	Note	£	£	£	£
Income and endowments
Donations and legacies	5	1,052	-	1,052	798
Charitable activities	6	87,192	1,064,572	1,151,764	1,103,300
Other trading activities	7	6,000	-	6,000	6,000
Investment income	8	970	-	970	1,198
Other income	9	14,749	-	14,749	-
Total income		109,963	1,064,572	1,174,535	1,111,296
Expenditure
Expenditure on charitable activities	10	122,200	1,061,796	1,183,996	1,152,203
Total expenditure		122,200	1,061,796	1,183,996	1,152,203
Net gains on investments	12	8,088	-	8,088	-
Net expenditure and net movement in
funds		(4,149)	2,776	(1,373)	(40,907)
Reconciliation offunds
Total funds brought forward		608,446	24,530	632,976	673,883
Totalfundscarriedforward		604,297	27,306	631,603	632,976

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

The notes on pages 13 to 22 form part of these financial statements.

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Advice Space

Company Limited by Guarantee

Statement of Financial Position

31 March 2025

		2025	2024
	Note	£	£
Fixed assets
Tangible fixed assets	17	64,315	73,338
Current assets
Debtors	18	90,107	94,753
Investments	19	307,814	-
Cash at bankand in hand		208,997	521,125
		606,918	615,878
Creditors: amounts falling duewithin oneyear	20	(39,630)	(56,240)
Net current assets		567,288	559,638
Total assets less current liabilities		631,603	632,976
Netassets		631,603	632,976
Funds ofthe charity
Restricted funds		27,306	24,530
Unrestricted funds		604,297	608,446
Totalcharityfunds	22	631,603	632,976

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 14 October 2025, and are signed on behalf of the board by:

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C Trotter = P McCartan
Trustee ) Trustee A YAQA
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The notes on pages 13 to 22 form part of these financial statements.

11

Advice Space

Company Limited by Guarantee

Statement of Cash Flows

Year ended 31 March 2025

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|||||||||| |---|---|---|---|---|---|---|---|---| |2025|2024| |£|£| |Cash|flows|from|operating|activities| |Net|expenditure|(1,373)|(40,907)| |Adjustments|for:| |Depreciation|of tangible|fixed|assets|9,023|9,321| |Net|gains|on|investments|(8,088)|-| |Dividends,|interest|and|rents|from|investments|(970)|(1,198)| |Interest|payable|and|similar|charges|142|697| |Accrued|(income)/expenses|(431)|2,052| |Changes|in:| |Trade|and|other|debtors|4,646|(28,120)| |Trade|and|other|creditors|(16,179)|9,866| |Cash|generated|from|operations|(13,230)|(48,289)| |Interest|paid|(142)|(697)| |Net|cash|used|in|operating|activities|(13,372)|(48,986)| |Cash|flows|from|investing|activities| |Dividends,|interest|and|rents|from|investments|970|1,198| |Purchase|of tangible|assets|-|(1,397)| |Purchases|of other|investments|(307,814)|-| |Proceeds|from|sale|of other|investments|8,088|-| |Net|cash|used|in|investing|activities|(298,756)|(199)| |Net decrease|in|cash|and|cash|equivalents|(312,128)|(49,185)| |Cash|and|cash|equivalents|at|beginning|of year|521,125|570,310| |Cash|and|cash|equivalents|at|end|of year|208,997|521,125|

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The notes on pages 13 to 22 form part of these financial statements.

12

Advice Space

Company Limited by Guarantee

Notes to the Financial Statements

Year ended 31 March 2025

1. 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.

2. Statement of compliance

These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland’, the Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (Charities SORP (FRS 102)) and the Companies Act 2006.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the 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 entity.

Going concern

There are no material uncertainties about the charity's ability to continue.

Judgements and key sources of estimation uncertainty

The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the preparation of the financial statements are as follows:

Fund accounting

Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes.

Designated funds are unrestricted funds earmarked by the trustees for particular future project or commitment.

Restricted funds are subjected to restrictions on their expenditure 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.

13

Advice Space

Company Limited by Guarantee

Notes to the Financial Statements (continuea)

Year ended 31 March 2025

1. Accounting policies (continued)

Incoming resources

All incoming resources are included in the statement 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 grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably.

• ° legacy income is recognised when receipt is probable and entitlement is established.

• e 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 spent 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 asa liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates:

• e expenditure on raising funds includes the costs of all fundraising activities, events, non-charitable trading activities, and the sale of donated goods.

• e expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities.

• e other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities.

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 between the activities they contribute to on a reasonable, justifiable and consistent basis.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

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/

Advice Space

Company Limited by Guarantee

Notes to the Financial Statements (continued)

|

Year ended 31 March 2025

1. Accounting policies (continued)

Tangible assets (continued)

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 that has previously been recognised as expenditure within the statement of financial activities. 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

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Freehold property - 4% straight line Equipment - 20% straight line Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the 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 testing, 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 unit 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 other assets or groups of assets.

Financial instruments

A financial asset or a financial liability is recognised only when the 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 related transaction costs.

Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted.

Debt instruments are subsequently measured at amortised cost.

Where investments in shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in income and expenditure. All other such investments are subsequently measured at cost less impairment.

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Advice Space

Company Limited by Guarantee

Notes to the Financial Statements (continueg)

Year ended 31 March 2025

1. Accounting policies (continued)

Financial instruments (continuea)

Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Other financial instruments are subsequently measured at fair value, with any changes recognised in the statement 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 at 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. Other financial assets are either 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 service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.

When contributions are not expected to be settled wholly within 12 months 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 the period in which it arises.

1. Limited by guarantee

Each of the members of the company has guaranteed to contribute to the assets of the company in the event of the same being would up to the extent of £1.

1. Donations and legacies

	Unrestricted	Total	Funds	Unrestricted	Total	Funds
	Funds		2025	Funds		2024
	£		£	£		£
Donations
Donations	1,052		1,052	798		798

16

Advice Space

Company Limited by Guarantee

Notes to the Financial Statements (continued)

Year ended 31 March 2025

6. Charitable activities

			Unrestricted	Restricted	Total Funds
			Funds	Funds	2025
			£	£	£
	Belfast City Council		-	493,228	493,228
	Macmillan		-	313,764	313,764
	Welfare Reform		-	148,041	148,041
	Belfast HSCT		-	109,539	109,539
	NICHS		23,538	-	23,538
	Telephonic services		12,757	-	12,757
	Cystic Fibrosis		9,704	-	9,704
	BHSCTYoung People in Transition		6,540	~	6,540
	Cedar		6,500	-	6,500
	Pension Wise		5,885	-	5,885
	Advice NI Debt		16,445	-	16,445
	Positive Life		2,063	-	2,063
	Fundraising		3,760	-	3,760
			87,192	1,064,572	1,151,764
			Unrestricted	Restricted	Total Funds
			Funds	Funds	2024
			£	£	£
	Belfast City Council Macmillan		1,500 -	461,794 307,625	463,294 307,625
	Welfare Reform		-	140,992	140,992
	Belfast HSCT		-	127,695	127,695
	NICHS		15,732	-	15,732
	Telephonic services		10,201	-	10,201
	Cystic Fibrosis		9,704	-	9,704
	BHSCTYoung People in Transition		6,540	-	6,540
	Cedar		6,500	-	6,500
	Pension Wise		5,863	-	5,863
	Advice NI Debt		5,798	-	5,798
	Positive Life		3,356	-	3,356
	Fundraising		-	-	-
			65,194	1,038,106	1,103,300
7.	Othertrading activities
		Unrestricted	Total Funds	Unrestricted	Total Funds
		Funds	2025	Funds	2024
		£	£	£	£
	Rentalincome	6,000	6,000	6,000	6,000

17

Advice Space

Company Limited by Guarantee

Notes to the Financial Statements (continuea)

Year ended 31 March 2025

8.	Investment income
		Unrestricted	Total Funds	Unrestricted	Total Funds
		Funds	2025	Funds	2024
		£	£	£	£
	Income from listed investments	245	245	-	-
	Bank interest	725	725	1,198	1,198
		970	970	1,198	1,198
9.	Other income
		Unrestricted	Total Funds	Unrestricted	Total Funds
		Funds	2025	Funds	2024
		£	£	£	£
	Other income	14,749	14,749	~	-
10.	Expenditure on charitable activities by activity type
		Activities
		undertaken		Total funds	Total fund
		directly Support costs		2025	2024
		£	£	£	£
	Provision of impartial advice to the
	general public	964,653	189,864	1,154,517	1,122,638
	Governance costs	-	29,479	29,479	29,565
		964,653	219,343	1,183,996	1,152,203

11. Analysis of support costs

	Provision of
	impartial
	advice to the
	general public	Total 2025	Total 2024
	£	£	£
Staff costs	15,819	15,819	15,131
Premises	96,545	96,545	99,491
Communications and IT	48,928	48,928	49,532
General office	28,572	28,572	27,758
Governance costs	29,479	29,479	29,565
	219,343	219,343	221,477

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Advice Space

Company Limited by Guarantee

Notes to the Financial Statements (continue)

Year ended 31 March 2025

12.	Net gains on investments
		Unrestricted	Total Funds	Unrestricted	Total Funds
		Funds	2025	Funds	2024
		£	£	£	£
	Gains/(losses) on listed investments	8,088	8,088	-	-
13.	Net expenditure
	Net expenditure is stated after charging/(crediting):
				2025	2024
				£	£
	Depreciation oftangible fixed assets			9,023	9,321
14.	Auditors remuneration
				2025	2024
				£	£
	Fees payable forthe audit ofthe financial	statements		6,540	6,552
15.	Staff costs
	The total staff costs and employee benefits forthe reporting period are			analysed as	follows:
				2025	2024
				£	£
	Wages and salaries			710,677	681,160
	Social security costs			59,183	55,039
	Employer contributions to pension plans			21,055	20,336
	Other employee benefits			-	6,000
				790,915	762,535

The average head count of employees during the year was 27 (2024: 28).

No employee received employee benefits of more than £60,000 during the year (2024: 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 to key management personnel for services provided to the charity was £111,137 (2024:£90,235).

16. Trustee remuneration and expenses

The charity trustees were not paid or received any other benefits from employment with the Charity in the year (2024:£Nil). No charity trustee received payment for professional or other service supplies to the Charity (2024: £Nil).

During the year trustess were reimbursed for travel and other expenses totalling £0 (2024: E£Nil).

.

19

Advice Space

Company Limited by Guarantee

Notes to the Financial Statements (continueg)

Year ended 31 March 2025

17. Tangible fixed assets

		Freehold
		property	Equipment	Total
		£	£	£
	Cost
	At 1 April 2024 and 31 March 2025	197,296	273,588	470,884
	Depreciation
	At1 April 2024	126,079	271,467	397,546
	Charge forthe year	7,892	1,131	9,023
	At 31 March 2025	133,971	272,598	406,569
	Carrying amount
	At 31 March 2025	63,325	990	64,315
	At 31 March 2024	71,217	2,121	73,338
18.	Debtors
			2025	2024
			£	£
	Trade debtors		81,850	78,858
	Prepayments and accrued income		8,257	10,895
	Other debtors		-	5,000
			90,107	94,753
19.	Investments
			2025	2024
			£	£
	Otherinvestments		307,814	-

The investment represents investments in short term UK government bonds and money market funds.

20. Creditors: amounts falling due within one year

	2025	2024
	£	£
Trade creditors	7,205	9,367
Accruals and deferred income	11,929	12,360
Social security and othertaxes	15,021	14,244
Other creditors	5,475	20,269
	39,630	56,240

20

Advice Space

Company Limited by Guarantee

Notes to the Financial Statements (continueg

Year ended 31 March 2025

21. Pensions and other post retirement benefits

Defined contribution plans

The amount recognised in income or expenditure as an expense in relation to defined contribution plans was £21,055 (2024: £20,336).

22. Analysis of charitable funds

Unrestricted funds

:

Unrestricted funds
					At
	At			Gains and 31 March 202
	1 April 2024	Income	Expenditure	losses	5
	£	£	£	oa	£
General funds	608,446	109,963	(122,200)	8,088	604,297
					At
	At			Gains and 31 March 202
	1 April 2023	Income	Expenditure	losses	4
	£	£	£	£	£
General funds	649,353	73,190	(114,097)	-	608,446
Restricted funds
					At
	At			Gains and 31 March 202
	1 April 2024	Income	Expenditure	losses	5
	£	£	£	£	g
Macmillan BelfastHSCT	- -	313,764 109,539	(313,764) (106,763)	- -	- 2,776
Belfast City Council	-	493,228	(493,228)	-	-
Belfast City Council -
Welfare Reform	24,530	148,041	(148,041)	-	24,530
	24,530	1,064,572	(1,061,796)	-	27,306
					At
	At			Gains and 31 March 202
	1 April 2023	Income	Expenditure	losses	4
	£	£	£	£	£
Macmillan Belfast HSCT	- -	307,625 127,695	(307,625) (127,695)	- -	- -
Belfast City Council	-	461,794	(461,794)	-	-
Belfast City Council -
Welfare Reform	24,530	140,992	(140,992)	-	24,530
	24,530	1,038,106	(1,038,106)	-	24,530

Transfer between restricted and unrestricted funds relates to expenditure recognised in unrestricted funds in prior year.

21

Advice Space

Company Limited by Guarantee

Notes to the Financial Statements (continued)

Year ended 31 March 2025

23. Analysis of net assets between funds

	Unrestricted	Restricted	Total Funds
	Funds	Funds	2025
	£	£	£
Tangible fixed assets	64,315	~	64,315
Investments	307,814	-	307,814
Current assets	271,798	27,306	299,104
Creditors less than 1 year	(39,630)	-	(39,630)
Net assets	604,297	27,306	631,603
	Unrestricted	Restricted	Total Funds
	Funds	Funds	2024
	£	£	£
Tangible fixed assets	73,338	_	73,338
Investments	-	-	-
Current assets	591,348	24,530	615,878
Creditors less than 1 year	(56,240)	-	(56,240)
Net assets	608,446	24,530	632,976
Taxation
The Company is a registered charity, and as such is entitled to tax		exemptions on income and
profits in furtherance ofthe charity's primary objectives.
Analysis ofchanges in net debt
			At
	At 1 Apr 2024	Cash flows	31 Mar 2025
	£	£	£
Cash at bank and in hand	521,125	(312,128)	208,997
Current asset investments	-	307,814	307,814
	521,125	(4,314)	516,811

24. Taxation

25. Analysis of changes in net debt

1. Contingencies

A contingent liability exists to repay grants received should certain 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.

27. 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.

22