REGISTERED COMPANY NUMBER: |
REGISTERED CHARITY NUMBER: |
REPORT OF THE TRUSTEES AND |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2023 |
FOR |
ISLE OF WIGHT LAW CENTRE LIMITED |
REGISTERED COMPANY NUMBER: |
REGISTERED CHARITY NUMBER: |
REPORT OF THE TRUSTEES AND |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2023 |
FOR |
ISLE OF WIGHT LAW CENTRE LIMITED |
ISLE OF WIGHT LAW CENTRE LIMITED |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2023 |
Page |
Report of the Trustees | 1 | to | 5 |
Independent Examiner's Report | 6 |
Statement of Financial Activities | 7 |
Balance Sheet | 8 | to | 9 |
Notes to the Financial Statements | 10 | to | 18 |
ISLE OF WIGHT LAW CENTRE LIMITED (REGISTERED NUMBER: 04898915) |
REPORT OF THE TRUSTEES |
FOR THE YEAR ENDED 31 MARCH 2023 |
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 March 2023. 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). |
OBJECTIVES AND ACTIVITIES |
Objectives and aims |
The charity's principal objective is the provision of free, confidential, impartial advice on all areas of social welfare law. |
The charity has in place policies which allow for the giving of advice on all social welfare law matters to all clients irrespective of race, gender, creed or sexual orientation. There have been no changes in the charity's policies in the year. |
Within our social welfare activities (housing, debt, welfare benefits, employment and community care), the objective is to deal with all matters relating to housing, and especially in relation to homelessness prevention; with this in mind the various streams of funding all support that key objective of homelessness prevention. |
Homelessness Prevention funding covers all the areas of social welfare law, and other streams of funding supporting areas of work e.g. debt and welfare benefits, at a specialist level within the Homelessness Prevention stream of funding. |
The only area of social welfare law we don't have any specific funding for is employment, and we only give basic initial advice in this area of law. |
All activities and projects within the Law Centre are delivered on a total cost recovery basis. |
Significant activities |
Our main activities continue to be providing advice and assistance in social welfare law issues. |
We further have our Homelessness Prevention Project and this deals with homeless families, and part of this project has a worker based on the Youth Offending Team working specifically with young people. We aim to run these activities so that residents on the Isle of Wight gain all the advice and representation that they may seek on all social welfare and legal matters. |
ACHIEVEMENT AND PERFORMANCE |
Charitable activities |
During the year the Law Centre provided a comprehensive social welfare advice and representation service to the residents of the Isle of Wight. The total number of callers to the Law Centre's offices in Newport was 2,681 (2022 - 2,430). |
ISLE OF WIGHT LAW CENTRE LIMITED (REGISTERED NUMBER: 04898915) |
REPORT OF THE TRUSTEES |
FOR THE YEAR ENDED 31 MARCH 2023 |
ACHIEVEMENT AND PERFORMANCE |
Public benefit |
The Isle of Wight Law Centre was established in September 2003 to relieve charitable need, and in particular financial hardship, by the provision of a free legal advice service to those most in need. The objectives of the Law Centre are the advancement and education amongst persons living on the Isle of Wight, by the improvement and diffusion of knowledge of the law, and the practice of the law and administration of justice; having regard especially for those areas of the law which are of particular concern to poor people or are directed to the relief of poverty. |
Social welfare law could be summarised as follows: housing law, debt/insolvency law, welfare benefit law, and employment law; it is in these areas of law that the Isle of Wight Law Centre assists/represents the residents of the Isle of Wight. The public benefits to our callers/clients are: prevention of homelessness, the maximisation of income, the alleviation of poverty, and the promotion of economic wellbeing to the poorest people on the Island. |
The charity trustees confirm that they have complied with the duty in Section 17 of the Charities Act 2011 to have due regard to public benefit guidance published by the Charities Commission. |
FINANCIAL REVIEW |
Principal funding sources |
The principal funding sources for the Isle of Wight Law Centre is currently Homelessness Prevention funding. |
The Homelessness Prevention funding implements those activities in terms of providing advice and assistance to ensure that our clients are able to sustain their accommodation. |
The other streams of funding support our key social welfare law objectives. |
At the end of the financial year the company is reporting a deficit of £105,757 (2022 - deficit £108,003). |
Reserves policy |
The Law Centre's reserves policy is to have at least six months running costs based on the projected annual turnover, and this is in line with the Charities Commission recommendations; however, period 2022/2023 we have had to utilise our reserves to remain open. |
As at 31 March 2023 the reserves stood at £41,872 (2022 - £147,629). |
ISLE OF WIGHT LAW CENTRE LIMITED (REGISTERED NUMBER: 04898915) |
REPORT OF THE TRUSTEES |
FOR THE YEAR ENDED 31 MARCH 2023 |
FUTURE PLANS |
Last year as of the 31 March 2022 we had four key objectives to achieve within the next 12 months which were: |
1. | To remain open. |
2. | Rather than develop the homelessness prevention funding, the priority is to make sure it continues |
3. | Look for alternative streams of funding that compliment Legal Aid. |
4. | To tender for the AIG funding. |
With reference to the above objectives in the previous 12 months: |
1. | We closed on 31st March 2023. |
2. | The homelessness prevention funding was discontinued by the Isle of Wight Council. |
3. | Legal Aid work proved to be unviable. |
4. | The AIG tender was unsuccessful. |
The key things which the Law Centre needs to achieve in the next 12 months are: |
1. | To finalise the closure of the Isle if Wight Law Centre. |
STRUCTURE, GOVERNANCE AND MANAGEMENT |
Governing document |
The organisation is a charitable company limited by guarantee, and was registered as a charity on 25 March 2004. |
The company was established under a Memorandum of Association which established the objects and powers of the company and it is governed according to it's Articles of Association. |
Recruitment and appointment of management committee |
The members of the Management Committee are Directors of the Company and also charity Trustees. |
The members of the Management Committee are elected to serve for any period of years there are no time constraints. They do not have to be re-elected at future Annual General Meetings. Members of the Management Committee are not asked to retire after serving a number of years and therefore don't have to offer themselves for re-election. |
The Management Committee appoints a Manager who has delegated authority, within terms approved by the Committee, for the overall supervision and control of the charity's activities and its staff. |
The charity works to provide free confidential impartial advice on all social welfare law issues and therefore we try to reflect this in recruiting those who have experience in this field to our Board of Trustees. We also strive to include business people from the legal world and the financial/business world. |
When we lose members through retirement we approach individuals in the community who we feel may possess the type of skills we require. |
ISLE OF WIGHT LAW CENTRE LIMITED (REGISTERED NUMBER: 04898915) |
REPORT OF THE TRUSTEES |
FOR THE YEAR ENDED 31 MARCH 2023 |
STRUCTURE, GOVERNANCE AND MANAGEMENT |
Organisational structure |
The charity is organised by the Trustees, who form the Management Committee. It has both a chair & vice chair drawn from the Management Committee. |
The trustees meet regularly during the year to review the company's activities, resources and financial performance, and to make strategic plans. The board appoints a Manager who has delegated authority, within terms approved by the board, for the overall supervision and control of the company's activities and its staff. |
Induction and training of new trustees |
All new Trustees are given information explaining what the charity is about and they are provided with details about Trustees roles and responsibilities in accordance with the Charities Act. They are familiarised with the structure of the committee and how meetings are conducted and invited to attend a meeting after which they and the committee members make a decision. |
REFERENCE AND ADMINISTRATIVE DETAILS |
Registered Company number |
Registered Charity number |
Registered office |
Trustees |
Company Secretary |
Independent Examiner |
A S Garner BA (Hons) FCA |
Harrison Black Limited |
East Quay |
Kite Hill |
Wootton Bridge |
Isle of Wight |
PO33 4LA |
ISLE OF WIGHT LAW CENTRE LIMITED (REGISTERED NUMBER: 04898915) |
REPORT OF THE TRUSTEES |
FOR THE YEAR ENDED 31 MARCH 2023 |
REFERENCE AND ADMINISTRATIVE DETAILS |
Bankers |
HSBC Bank Plc |
101 St James Street |
Newport |
Isle of Wight |
PO30 1HX |
EVENTS SINCE THE END OF THE YEAR |
Information relating to events since the end of the year is given in the notes to the financial statements. |
Approved by order of the board of trustees on |
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF |
ISLE OF WIGHT LAW CENTRE LIMITED |
Independent examiner's report to the trustees of Isle of Wight Law Centre Limited ('the Company') |
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2023. |
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. |
A S Garner BA (Hons) FCA |
Harrison Black Limited |
East Quay |
Kite Hill |
Wootton Bridge |
Isle of Wight |
PO33 4LA |
7 March 2024 |
ISLE OF WIGHT LAW CENTRE LIMITED |
STATEMENT OF FINANCIAL ACTIVITIES |
FOR THE YEAR ENDED 31 MARCH 2023 |
2023 | 2022 |
Unrestricted | Restricted | Total | Total |
funds | funds | funds | funds |
Notes | £ | £ | £ | £ |
INCOME AND ENDOWMENTS FROM |
Donations and legacies | 3 |
Charitable activities | 4 |
Other income |
Total |
EXPENDITURE ON |
Charitable activities | 5 |
Representing tenants |
Total |
NET INCOME/(EXPENDITURE) | ( |
) | ( |
) | ( |
) | ( |
) |
RECONCILIATION OF FUNDS |
Total funds brought forward |
TOTAL FUNDS CARRIED FORWARD | 147,629 |
ISLE OF WIGHT LAW CENTRE LIMITED (REGISTERED NUMBER: 04898915) |
BALANCE SHEET |
31 MARCH 2023 |
2023 | 2022 |
Unrestricted | Restricted | Total | Total |
funds | funds | funds | funds |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 10 |
CURRENT ASSETS |
Debtors | 11 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 12 | ( |
) | ( |
) | ( |
) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
NET ASSETS |
FUNDS | 13 |
Unrestricted funds | 144,247 |
Restricted funds | 3,382 |
TOTAL FUNDS | 147,629 |
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023. |
The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 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. |
ISLE OF WIGHT LAW CENTRE LIMITED (REGISTERED NUMBER: 04898915) |
BALANCE SHEET - continued |
31 MARCH 2023 |
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime. |
The financial statements were approved by the Board of Trustees and authorised for issue on |
ISLE OF WIGHT LAW CENTRE LIMITED |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2023 |
1. | GENERAL INFORMATION |
Isle of Wight Law Centre Limited is a private company limited by guarantee and incorporated in England. The financial statement are presented in Sterling, which is the functional currency of the Charitable company. |
2. | 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 when the charity is legally entitled to the income after any performance conditions have been met, the amount can be measured reliably and it is probable that the income will be received. |
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. |
Support costs include central functions and have been allocated to activity cost categories on a basis consistent with the use of resources. |
Tangible fixed assets |
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. |
Fixtures and fittings | - |
Computer equipment | - |
Tangible fixed assets are stated at cost or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended by management. |
No tangible fixed asset are capitalised which have a purchase value under £1,000 unless they feel it will last for a significant time. The value of any tangible fixed asset is assessed at its cost price. |
Taxation |
The charity is exempt from corporation tax on its charitable activities. |
ISLE OF WIGHT LAW CENTRE LIMITED |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2023 |
2. | ACCOUNTING POLICIES - continued |
Fund accounting |
Unrestricted funds are funds available for use at the discretion of the trustees to meet the charities objectives. Restricted funds are subject to restrictions on their expenditure imposed through the donor or through the terms of an appeal. |
Pension costs and other post-retirement benefits |
The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate. |
Employment benefits |
Short term benefits, including holiday pay, are recognised in the period in which the service is received. |
Redundancy costs |
Redundancy costs arising from periodic reviews of staff levels and restructuring are recognised in the period in which the employees leave. |
Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to the Statement of Financial Activity on a straight line basis over the period of the lease. |
3. | DONATIONS AND LEGACIES |
2023 | 2022 |
£ | £ |
Donations |
4. | INCOME FROM CHARITABLE ACTIVITIES |
2023 | 2022 |
Activity | £ | £ |
Homelessness Prevention | Welfare | 145,247 | 100,247 |
Legal Aid | Welfare | 4,396 | 4,082 |
Grants | Welfare | 29,609 | 31,440 |
Grants received, included in the above, are as follows: |
2023 | 2022 |
£ | £ |
AB Charitable Trust | - | 15,000 |
The National Lottery Community Fund - RC London and South East region |
20,850 |
10,350 |
Carried forward | 20,850 | 25,350 |
ISLE OF WIGHT LAW CENTRE LIMITED |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2023 |
4. | INCOME FROM CHARITABLE ACTIVITIES - continued |
2023 | 2022 |
£ | £ |
Brought forward | 20,850 | 25,350 |
Institute of Money Advisors | 8,759 | 6,090 |
29,609 | 31,440 |
5. | CHARITABLE ACTIVITIES COSTS |
Support |
Direct | costs (see |
Costs | note 6) | Totals |
£ | £ | £ |
Housing Advice | 181,662 | 47,121 | 228,783 |
Representing tenants |
53,289 | 13,860 | 67,149 |
Specialist Advice | 7,267 | 2,018 | 9,285 |
242,218 | 62,999 | 305,217 |
6. | SUPPORT COSTS |
Governance |
Management | costs | Totals |
£ | £ | £ |
Housing Advice | 44,028 | 3,093 | 47,121 |
Representing tenants |
12,950 | 910 | 13,860 |
Specialist Advice | 1,885 | 133 | 2,018 |
58,863 | 4,136 | 62,999 |
Activity | Basis of allocation |
Management | Use of resources |
Governance costs | Use of resources |
ISLE OF WIGHT LAW CENTRE LIMITED |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2023 |
7. | NET INCOME/(EXPENDITURE) |
Net income/(expenditure) is stated after charging/(crediting): |
2023 | 2022 |
£ | £ |
Independent examiners fee | 3,056 | 2,634 |
Depreciation - owned assets |
8. | TRUSTEES' REMUNERATION AND BENEFITS |
There were no trustees' remuneration or other benefits for the year ended 31 March 2023 nor for the year ended 31 March 2022. |
Trustees' expenses |
There were no trustees' expenses paid for the year ended 31 March 2023 nor for the year ended 31 March 2022. |
9. | STAFF COSTS |
2023 | 2022 |
£ | £ |
Wages and salaries |
Social security costs |
Other pension costs |
266,989 | 218,137 |
The average monthly number of employees during the year was as follows: |
2023 | 2022 |
Full time equivalent |
Key management personnel remuneration and benefits |
The total amount of remuneration and benefits received by key management in the year was £58,217 (2021 - £37,217). |
ISLE OF WIGHT LAW CENTRE LIMITED |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2023 |
10. | TANGIBLE FIXED ASSETS |
Fixtures |
and | Computer |
fittings | equipment | Totals |
£ | £ | £ |
COST |
At 1 April 2022 and 31 March 2023 |
DEPRECIATION |
At 1 April 2022 |
Charge for year |
At 31 March 2023 |
NET BOOK VALUE |
At 31 March 2023 |
At 31 March 2022 |
11. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Other debtors |
Prepayments and accrued income |
12. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Trade creditors |
Social security and other taxes |
Other creditors | - | 20,035 |
Accrued expenses |
ISLE OF WIGHT LAW CENTRE LIMITED |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2023 |
13. | MOVEMENT IN FUNDS |
Net |
movement | At |
At 1.4.22 | in funds | 31.3.23 |
£ | £ | £ |
Unrestricted funds |
General fund | 144,247 | (102,375 | ) | 41,872 |
Restricted funds |
Connect 4 Communities | 2,670 | (2,670 | ) | - |
Institute of Money Advisors | 712 | (712 | ) | - |
(3,382 | ) |
TOTAL FUNDS | (105,757 | ) | 41,872 |
Net movement in funds, included in the above are as follows: |
Incoming | Resources | Movement |
resources | expended | in funds |
£ | £ | £ |
Unrestricted funds |
General fund | 169,851 | (272,226 | ) | (102,375 | ) |
Restricted funds |
Connect 4 Communities | - | (2,670 | ) | (2,670 | ) |
The National Lottery Community Fund - RC London and South East region |
20,850 |
(20,850 |
) |
- |
Institute of Money Advisors | 8,759 | (9,471 | ) | (712 | ) |
( |
) | (3,382 | ) |
TOTAL FUNDS | ( |
) | (105,757 | ) |
ISLE OF WIGHT LAW CENTRE LIMITED |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2023 |
13. | MOVEMENT IN FUNDS - continued |
Comparatives for movement in funds |
Net |
movement | At |
At 1.4.21 | in funds | 31.3.22 |
£ | £ | £ |
Unrestricted funds |
General fund | 220,129 | (75,882 | ) | 144,247 |
Restricted funds |
The Tudor Trust | 32,473 | (32,473 | ) | - |
Connect 4 Communities | 3,030 | (360 | ) | 2,670 |
Institute of Money Advisors | - | 712 | 712 |
35,503 | (32,121 | ) | 3,382 |
TOTAL FUNDS | 255,632 | (108,003 | ) | 147,629 |
Comparative net movement in funds, included in the above are as follows: |
Incoming | Resources | Movement |
resources | expended | in funds |
£ | £ | £ |
Unrestricted funds |
General fund | 128,945 | (204,827 | ) | (75,882 | ) |
Restricted funds |
The Tudor Trust | - | (32,473 | ) | (32,473 | ) |
Connect 4 Communities | - | (360 | ) | (360 | ) |
The National Lottery Community Fund - RC London and South East region |
10,350 |
(10,350 |
) |
- |
Institute of Money Advisors | 6,090 | (5,378 | ) | 712 |
16,440 | (48,561 | ) | (32,121 | ) |
TOTAL FUNDS | 145,385 | (253,388 | ) | (108,003 | ) |
ISLE OF WIGHT LAW CENTRE LIMITED |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2023 |
13. | MOVEMENT IN FUNDS - continued |
A current year 12 months and prior year 12 months combined position is as follows: |
Net |
movement | At |
At 1.4.21 | in funds | 31.3.23 |
£ | £ | £ |
Unrestricted funds |
General fund | 220,129 | (178,257 | ) | 41,872 |
Restricted funds |
The Tudor Trust | 32,473 | (32,473 | ) | - |
Connect 4 Communities | 3,030 | (3,030 | ) | - |
35,503 | (35,503 | ) | - |
TOTAL FUNDS | 255,632 | (213,760 | ) | 41,872 |
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 | 298,796 | (477,053 | ) | (178,257 | ) |
Restricted funds |
The Tudor Trust | - | (32,473 | ) | (32,473 | ) |
Connect 4 Communities | - | (3,030 | ) | (3,030 | ) |
The National Lottery Community Fund - RC London and South East region |
31,200 |
(31,200 |
) |
- |
Institute of Money Advisors | 14,849 | (14,849 | ) | - |
46,049 | (81,552 | ) | (35,503 | ) |
TOTAL FUNDS | 344,845 | (558,605 | ) | (213,760 | ) |
RESTRICTED FUNDS |
The Centre brought forward funds of £2,670 from Connect 4 Communities, to be used to help people with heating costs such as providing heaters or gas and electric grants. Funds of £2,670 were spent during the year leaving a carried forward balance of £nil. |
The Centre received funds from The National Lottery Community Fund - RC London and South East region of £20,850 during the year towards staff costs, IT, phone costs and the Centres overheads. The centre spent funds of £20,850 during the year leaving the carried forward balance of £nil. |
ISLE OF WIGHT LAW CENTRE LIMITED |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2023 |
13. | MOVEMENT IN FUNDS - continued |
The Centre brought forward funds of £712 from the Institute of Money Advisors for debt advisory services. Additional funds of £8,759 were received in the year. This was to help with the Centres staff costs and the Centres overheads. Funds were spent during the year of £9,471 leaving the carried forward balance of £nil. |
14. | RELATED PARTY DISCLOSURES |
15. | POST BALANCE SHEET EVENTS |
The charity ceased trading on the 31 March 2023 and closed its doors in April 2023 due to the main source of income coming to the end of the contract and not being renewed. |