IRIS Accounts Productionv23.2.0.158OtherCompany accountsTruefalsePounds1.1.2231.12.2231.12.22FYFRS 102Independent examinerLarge and medium-sized companies regime for accountsFullCharities SORPtruetruetruetruefalsetruetruefalsetrue00 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh074610472021-12-31074610472022-12-31074610472022-01-012022-12-31074610472020-12-31074610472021-01-012021-12-31074610472021-12-3107461047ns11:Originalns0:CharitableCompanyLimitedByGuarantee2022-01-012022-12-3107461047ns11:Original2022-01-012022-12-3107461047ns15:PoundSterlingns11:Original2022-01-012022-12-3107461047ns11:Original2021-12-3107461047ns11:Original2022-12-3107461047ns11:Originalns11:FRS1022022-01-012022-12-3107461047ns11:IndependentExaminationCharityns11:Original2022-01-012022-12-3107461047ns11:Originalns11:LargeMedium-sizedCompaniesRegimeForAccounts2022-01-012022-12-3107461047ns11:Originalns11:FullAccounts2022-01-012022-12-3107461047ns11:Originalns11:CharitiesSORP2022-01-012022-12-3107461047ns11:Original2021-01-012021-12-3107461047ns11:Originalns16:EnglandWales2022-01-012022-12-3107461047ns11:Originalns11:RegisteredOffice2022-01-012022-12-3107461047ns11:Originalns0:Trustee32022-01-012022-12-3107461047ns11:Originalns0:Trustee22022-01-012022-12-3107461047ns11:Originalns0:Trustee12022-01-012022-12-3107461047ns11:Originalns11:CompanySecretary12022-01-012022-12-3107461047ns11:Originalns0:TotalUnrestrictedFunds2022-01-012022-12-3107461047ns11:Originalns0:TotalRestrictedIncomeFunds2022-01-012022-12-3107461047ns11:Originalns0:TotalUnrestrictedFunds2021-12-3107461047ns11:Originalns0:TotalRestrictedIncomeFunds2021-12-3107461047ns11:Original2020-12-3107461047ns11:Originalns0:TotalUnrestrictedFunds2022-12-3107461047ns11:Originalns0:TotalRestrictedIncomeFunds2022-12-3107461047ns11:Original2021-12-3107461047ns11:Originalns0:TotalUnrestrictedFundsns10:WithinOneYear2022-12-3107461047ns11:Originalns0:TotalRestrictedIncomeFundsns10:WithinOneYear2022-12-3107461047ns11:Originalns10:WithinOneYear2022-12-3107461047ns11:Originalns10:WithinOneYear2021-12-3107461047ns11:Original22022-01-012022-12-3107461047ns11:Originalns0:TotalUnrestrictedFunds2021-01-012021-12-3107461047ns11:Originalns0:TotalRestrictedIncomeFunds2021-01-012021-12-3107461047ns11:Originalns0:TotalUnrestrictedFundsns11:MainIndustrySectorHeading2021-01-012021-12-3107461047ns11:Originalns11:MainIndustrySectorHeadingns0:TotalRestrictedIncomeFunds2021-01-012021-12-31

REGISTERED COMPANY NUMBER: 07461047 (England and Wales)

REGISTERED CHARITY NUMBER: 1143175















REPORT OF THE TRUSTEES AND

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

FOR


Grace Debt Advice

(A Company Limited by Guarantee)


Grace Debt Advice







CONTENTS OF THE FINANCIAL STATEMENTS

for the Year Ended 31 December 2022






Page



Report of the Trustees  

1



Independent Examiner's Report  

2



Statement of Financial Activities  

3



Balance Sheet  

4



Notes to the Financial Statements  

5


to


8


Grace Debt Advice (Registered number: 07461047)


REPORT OF THE TRUSTEES

for the Year Ended 31 December 2022



The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 December 2022. The trustees have adopted the provisions of Accounting and Reporting by Charities: 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) (effective 1 January 2019).


STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.


Related parties

The Trustees fees relate to payments made to G Holland in relation to his position as CEO of the charity. These fees consist of fees of £15,808 (2021 £9,159).

REFERENCE AND ADMINISTRATIVE DETAILS

Registered Company number

07461047 (England and Wales)


Registered Charity number

1143175


Registered office

Ferneberga House

Alexandra Road

Farnborough

GU14 6DQ


Trustees

Ms A Barling Retired

A D Barnard Company Director

G Holland Company Director


Company Secretary



Independent Examiner

Mark Byron Blackwell

MHR Consultancy Limited

Ferneberga House

Alexandra Road

Farnborough

GU14 6DQ


Approved by order of the board of trustees on 27 September 2023 and signed on its behalf by:






G Holland - Trustee


INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF

GRACE DEBT ADVICE


Independent examiner's report to the trustees of Grace Debt Advice ('the Company')

I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 December 2022.


Responsibilities and basis of report

As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').


Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under Section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act.


Independent examiner's statement

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:


1.

accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or

2.

the accounts do not accord with those records; or

3.

the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or

4.

the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).


I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.









Mark Byron Blackwell


MHR Consultancy Limited

Ferneberga House

Alexandra Road

Farnborough

GU14 6DQ


27 September 2023


Grace Debt Advice


STATEMENT OF FINANCIAL ACTIVITIES

for the Year Ended 31 December 2022



31.12.22


31.12.21


Unrestricted


Restricted


Total


Total


fund


funds


funds


funds


Notes

£   

£   

£   

£   


INCOME AND ENDOWMENTS FROM

Donations and legacies

146,855


-


146,855


82,916



Charitable activities

Core Activities

3,147


-


3,147


3,228



Investment income

2

-


-


-


3


Total

150,002


-


150,002


86,147



EXPENDITURE ON

Charitable activities

Core Activities

157,173


1,149


158,322


83,717



NET INCOME/(EXPENDITURE)

(7,171

)

(1,149

)

(8,320

)

2,430




RECONCILIATION OF FUNDS

Total funds brought forward

32,188


2,416


34,604


32,174



TOTAL FUNDS CARRIED FORWARD

25,017


1,267


26,284


34,604



Grace Debt Advice (Registered number: 07461047)


BALANCE SHEET

31 December 2022



31.12.22


31.12.21


Unrestricted


Restricted


Total


Total


fund


funds


funds


funds


Notes

£   

£   

£   

£   


CURRENT ASSETS


Cash at bank

25,024


1,267


26,291


34,604



CREDITORS


Amounts falling due within one year

5

(7

)

-


(7

)

-



NET CURRENT ASSETS

25,017


1,267


26,284


34,604



TOTAL ASSETS LESS CURRENT LIABILITIES

25,017


1,267


26,284


34,604



NET ASSETS

25,017


1,267


26,284


34,604


FUNDS

6

Unrestricted funds

25,017


32,188


Restricted funds

1,267


2,416


TOTAL FUNDS

26,284


34,604



The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2022.


The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2022 in accordance with Section 476 of the Companies Act 2006.


The trustees acknowledge their responsibilities for
(a)ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.

These financial statements have been prepared in accordance with  and delivered in accordance with the special  provisions applicable to  small charitable companies subject to the small companies regime.



The financial statements were approved by the Board of Trustees and authorised for issue on 27 September 2023 and were signed on its behalf by:






G Holland - Trustee






A D Barnard - Trustee


Grace Debt Advice


NOTES TO THE FINANCIAL STATEMENTS

for the Year Ended 31 December 2022


1.

ACCOUNTING POLICIES



Basis of preparing the financial statements


The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: 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) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.



Income


All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.



Expenditure


Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.



Taxation

The charity is exempt from corporation tax on its charitable activities.


Fund accounting

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

2.

INVESTMENT INCOME


31.12.22


31.12.21

£   

£   



Interest receivable - trading

-


3




3.

TRUSTEES' REMUNERATION AND BENEFITS


31.12.22


31.12.21

£   

£   



Trustees' fees

15,808


9,159





Trustees' expenses


There were no trustees' expenses paid for the year ended 31 December 2022 nor for the year ended 31 December 2021.


4.

COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES


Unrestricted


Restricted


Total


fund


funds


funds

£   

£   

£   



INCOME AND ENDOWMENTS FROM


Donations and legacies

82,416


500


82,916




Charitable activities


Core Activities

1,928


1,300


3,228




Investment income

3


-


3



Total

84,347


1,800


86,147




EXPENDITURE ON


Charitable activities


Core Activities

76,909


6,808


83,717




Grace Debt Advice


NOTES TO THE FINANCIAL STATEMENTS - continued

for the Year Ended 31 December 2022


4.

COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued


Unrestricted


Restricted


Total


fund


funds


funds

£   

£   

£   



NET INCOME/(EXPENDITURE)

7,438


(5,008

)

2,430





RECONCILIATION OF FUNDS


Total funds brought forward

24,750


7,424


32,174




TOTAL FUNDS CARRIED FORWARD

32,188


2,416


34,604



5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR


31.12.22


31.12.21

£   

£   



Trade creditors

7


-




6.

MOVEMENT IN FUNDS


Net




movement


At



At 1.1.22


in funds


31.12.22


£   

£   

£   



Unrestricted funds


General fund

32,188


(7,171

)

25,017





Restricted funds


Somerset Community Foundation - Somerst Growth

830


(400

)

430




Somerset Community Foundation - Homeless Fund

1,016


(249

)

767




Live West - Digital Inclusion

70


-


70




Disability Workshop

500


(500

)

-



2,416


(1,149

)

1,267




TOTAL FUNDS

34,604


(8,320

)

26,284





Net movement in funds, included in the above are as follows:



Incoming


Resources


Movement



resources


expended


in funds


£   

£   

£   



Unrestricted funds


General fund

150,002


(157,173

)

(7,171

)




Restricted funds


Somerset Community Foundation - Somerst Growth

-


(400

)

(400

)



Somerset Community Foundation - Homeless Fund

-


(249

)

(249

)



Disability Workshop

-


(500

)

(500

)


-


(1,149

)

(1,149

)



TOTAL FUNDS

150,002


(158,322

)

(8,320

)




Grace Debt Advice


NOTES TO THE FINANCIAL STATEMENTS - continued

for the Year Ended 31 December 2022


6.

MOVEMENT IN FUNDS - continued



Comparatives for movement in funds



Net




movement


At



At 1.1.21


in funds


31.12.21


£   

£   

£   



Unrestricted funds


General fund

24,750


7,438


32,188





Restricted funds


Wessex Water - Hard to Reach

800


(800

)

-




Somerset Community Foundation - Somerst Growth

3,040


(2,210

)

830




Somerset Community Foundation - Homeless Fund

1,000


16


1,016




Live West - Digital Inclusion

2,584


(2,514

)

70




Disability Workshop

-


500


500



7,424


(5,008

)

2,416




TOTAL FUNDS

32,174


2,430


34,604





Comparative net movement in funds, included in the above are as follows:



Incoming


Resources


Movement



resources


expended


in funds


£   

£   

£   



Unrestricted funds


General fund

84,347


(76,909

)

7,438





Restricted funds


Wessex Water - Hard to Reach

-


(800

)

(800

)



Somerset Community Foundation - Somerst Growth

-


(2,210

)

(2,210

)



Somerset Community Foundation - Homeless Fund

1,000


(984

)

16




Live West - Digital Inclusion

-


(2,514

)

(2,514

)



Disability Workshop

500


-


500




HT Advocacy

300


(300

)

-



1,800


(6,808

)

(5,008

)



TOTAL FUNDS

86,147


(83,717

)

2,430





A current year 12 months and prior year 12 months combined position is as follows:



Net




movement


At



At 1.1.21


in funds


31.12.22


£   

£   

£   



Unrestricted funds


General fund

24,750


267


25,017





Restricted funds


Wessex Water - Hard to Reach

800


(800

)

-




Somerset Community Foundation - Somerst Growth

3,040


(2,610

)

430




Somerset Community Foundation - Homeless Fund

1,000


(233

)

767




Live West - Digital Inclusion

2,584


(2,514

)

70



7,424


(6,157

)

1,267




TOTAL FUNDS

32,174


(5,890

)

26,284




Grace Debt Advice


NOTES TO THE FINANCIAL STATEMENTS - continued

for the Year Ended 31 December 2022


6.

MOVEMENT IN FUNDS - continued



A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:



Incoming


Resources


Movement



resources


expended


in funds


£   

£   

£   



Unrestricted funds


General fund

234,349


(234,082

)

267





Restricted funds


Wessex Water - Hard to Reach

-


(800

)

(800

)



Somerset Community Foundation - Somerst Growth

-


(2,610

)

(2,610

)



Somerset Community Foundation - Homeless Fund

1,000


(1,233

)

(233

)



Live West - Digital Inclusion

-


(2,514

)

(2,514

)



Disability Workshop

500


(500

)

-




HT Advocacy

300


(300

)

-



1,800


(7,957

)

(6,157

)



TOTAL FUNDS

236,149


(242,039

)

(5,890

)



7.

RELATED PARTY DISCLOSURES



There were no related party transactions for the year ended 31 December 2022.