MONEY ADVICE SCOTLAND

Company limited by guarantee

Company Registration Number:
SC137717 (Scotland)

Unaudited statutory accounts for the year ended 31 March 2023

Period of accounts

Start date: 1 April 2022

End date: 31 March 2023

MONEY ADVICE SCOTLAND

Contents of the Financial Statements

for the Period Ended 31 March 2023

Directors report
Balance sheet
Additional notes
Balance sheet notes

MONEY ADVICE SCOTLAND

Directors' report period ended 31 March 2023

The directors present their report with the financial statements of the company for the period ended 31 March 2023

Principal activities of the company

The principal activity of the company during the year continued to be that of promoting and championing free, independent, impartial, confidential money advice and financial inclusion and providing second-tier support (in money advice) and membership services. We began the spring of 2022 with a great deal of optimism that the worst of the Covid pandemic was finally behind us. However, much of the hope and aspiration we held for the coming year was soonput under threat by the tremendous pressure of the cost of living crisis.Money Advice Scotland exists to help people in debt, support money advisers, and influence policy. Our mission is to be the driving force towards financial wellbeing for the people of Scotland 'Because people in debt deserve to be treated fairly'.Our 4 key areas of focus are:Supporting Money Advisers so they have a place to report social policy concerns via our evidence-based platform, as well as access to training to ensure they are equipped to carry out their vital role.Helping people in debt, working towards securing fairer practices for all.Influencing policy by being a strong voice for consumers and people in debt in Scotland by identifying detriment and acting on it. Improving financial wellbeing by delivering workshops to schools, colleges, and workplaces across Scotland and working to help and support everyday people improve their financial capability



Directors

The directors shown below have held office during the whole of the period from
1 April 2022 to 31 March 2023

John Poole
Michael Cooper
Karen Fraser
Thomas Lynas
Fergus Reid


The director shown below has held office during the whole of the period from
1 April 2022 to 31 March 2023

Andrew McGowan


The directors shown below have held office during the period of
1 April 2022 to 24 November 2022

Christine Sinclair
Mark Law


The director shown below has held office during the period of
1 April 2022 to 30 June 2022

Rona Rodger


Secretary Peter Costello

The above report has been prepared in accordance with the special provisions in part 15 of the Companies Act 2006

This report was approved by the board of directors on
28 September 2023

And signed on behalf of the board by:
Name: John Poole
Status: Director

MONEY ADVICE SCOTLAND

Balance sheet

As at 31 March 2023

Notes 2023 2022


£

£
Fixed assets
Intangible assets:   0 0
Tangible assets: 3 11,829 17,070
Investments:   0 0
Total fixed assets: 11,829 17,070
Current assets
Stocks:   0 0
Debtors: 4 162,728 147,902
Cash at bank and in hand: 112,246 168,831
Investments:   0 0
Total current assets: 274,974 316,733
Prepayments and accrued income: 0 0
Creditors: amounts falling due within one year: 5 ( 42,014 ) ( 85,393 )
Net current assets (liabilities): 232,960 231,340
Total assets less current liabilities: 244,789 248,410
Creditors: amounts falling due after more than one year:   0 0
Provision for liabilities: 0 0
Accruals and deferred income: 0 0
Total net assets (liabilities): 244,789 248,410
Members' funds
Profit and loss account: 244,789 248,410
Total members' funds: 244,789 248,410

The notes form part of these financial statements

MONEY ADVICE SCOTLAND

Balance sheet statements

For the year ending 31 March 2023 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen not to file a copy of the company's profit and loss account.

This report was approved by the board of directors on 28 September 2023
and signed on behalf of the board by:

Name: John Poole
Status: Director

The notes form part of these financial statements

MONEY ADVICE SCOTLAND

Notes to the Financial Statements

for the Period Ended 31 March 2023

  • 1. Accounting policies

    Basis of measurement and preparation

    These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

    Other accounting policies

    Reserves PolicyThe statement of financial activities shows a net deficit for the year of £3,621 (2022: deficit of£171,460) split between an unrestricted surplus of £12,905 (2022: deficit of £123.287) offsetby restricted deficit of £16,526 (2022: deficit of £48,173) leaving funds carried forward of£244,789 (2022: £248,410), of which £177,886 are unrestricted funds ((2022: £164,981),£66,903 are restricted funds (2022: £83,429) and £11,829 are designated funds (2022:£17,070). The Board consider that the minimum level of unrestricted reserves should be 3months of total annual expenditure, being approximately £190,000 at current year levels, tomeet the cash flow needs and cover the ongoing liabilities of the organisation. The reservesposition is closely monitored by the Board in conjunction with the charitable objectives.

MONEY ADVICE SCOTLAND

Notes to the Financial Statements

for the Period Ended 31 March 2023

  • 2. Employees

    2023 2022
    Average number of employees during the period 15 17

MONEY ADVICE SCOTLAND

Notes to the Financial Statements

for the Period Ended 31 March 2023

3. Tangible assets

Land & buildings Plant & machinery Fixtures & fittings Office equipment Motor vehicles Total
Cost £ £ £ £ £ £
At 1 April 2022 0 0 0 25,580 0 25,580
Additions 0 0 0 576 0 576
Disposals 0 0 0 0 0 0
Revaluations 0 0 0 0 0 0
Transfers 0 0 0 0 0 0
At 31 March 2023 0 0 0 26,156 0 26,156
Depreciation
At 1 April 2022 0 0 0 8,510 0 8,510
Charge for year 0 0 0 5,817 0 5,817
On disposals 0 0 0 0 0 0
Other adjustments 0 0 0 0 0 0
At 31 March 2023 0 0 0 14,327 0 14,327
Net book value
At 31 March 2023 0 0 0 11,829 0 11,829
At 31 March 2022 0 0 0 17,070 0 17,070

MONEY ADVICE SCOTLAND

Notes to the Financial Statements

for the Period Ended 31 March 2023

4. Debtors

2023 2022
£ £
Trade debtors 1,552 50
Prepayments and accrued income 155,529 147,660
Other debtors 5,647 192
Total 162,728 147,902
Debtors due after more than one year: 0 0

MONEY ADVICE SCOTLAND

Notes to the Financial Statements

for the Period Ended 31 March 2023

5. Creditors: amounts falling due within one year note

2023 2022
£ £
Bank loans and overdrafts 0 0
Amounts due under finance leases and hire purchase contracts 0 0
Trade creditors 3,154 5,104
Taxation and social security 13,231 21,785
Other creditors 25,629 58,504
Total 42,014 85,393