HULL & EAST YORKSHIRE COMMUNITY MONEY ADVICE CIC

Company limited by guarantee

Company Registration Number:
11097260 (England and Wales)

Unaudited statutory accounts for the year ended 31 December 2023

Period of accounts

Start date: 1 January 2023

End date: 31 December 2023

HULL & EAST YORKSHIRE COMMUNITY MONEY ADVICE CIC

Contents of the Financial Statements

for the Period Ended 31 December 2023

Directors report
Profit and loss
Balance sheet
Additional notes
Balance sheet notes
Community Interest Report

HULL & EAST YORKSHIRE COMMUNITY MONEY ADVICE CIC

Directors' report period ended 31 December 2023

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

Directors

The directors shown below have held office during the whole of the period from
1 January 2023 to 31 December 2023

S Jarvis
B Jarvis
NE Jarvis
IM Priddle
LA Sanderson


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
25 September 2024

And signed on behalf of the board by:
Name: S Jarvis
Status: Director

HULL & EAST YORKSHIRE COMMUNITY MONEY ADVICE CIC

Profit And Loss Account

for the Period Ended 31 December 2023

2023 2022


£

£
Cost of sales: ( 16,627 ) ( 5,120 )
Gross profit(or loss): (16,627) (5,120)
Administrative expenses: ( 25,645 ) ( 22,370 )
Other operating income: 44,661 29,829
Operating profit(or loss): 2,389 2,339
Interest receivable and similar income: 26 0
Profit(or loss) before tax: 2,415 2,339
Profit(or loss) for the financial year: 2,415 2,339

HULL & EAST YORKSHIRE COMMUNITY MONEY ADVICE CIC

Balance sheet

As at 31 December 2023

Notes 2023 2022


£

£
Fixed assets
Tangible assets: 3 7,609 5,915
Total fixed assets: 7,609 5,915
Current assets
Cash at bank and in hand: 8,385 13,190
Total current assets: 8,385 13,190
Creditors: amounts falling due within one year: 4 ( 8,988 ) ( 14,514 )
Net current assets (liabilities): (603) (1,324)
Total assets less current liabilities: 7,006 4,591
Total net assets (liabilities): 7,006 4,591
Members' funds
Profit and loss account: 7,006 4,591
Total members' funds: 7,006 4,591

The notes form part of these financial statements

HULL & EAST YORKSHIRE COMMUNITY MONEY ADVICE CIC

Balance sheet statements

For the year ending 31 December 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.

This report was approved by the board of directors on 25 September 2024
and signed on behalf of the board by:

Name: S Jarvis
Status: Director

The notes form part of these financial statements

HULL & EAST YORKSHIRE COMMUNITY MONEY ADVICE CIC

Notes to the Financial Statements

for the Period Ended 31 December 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

    Turnover policy

    Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

    Tangible fixed assets depreciation policy

    Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives: Computer equipment 25% cost

    Other accounting policies

    Government grants Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.

HULL & EAST YORKSHIRE COMMUNITY MONEY ADVICE CIC

Notes to the Financial Statements

for the Period Ended 31 December 2023

  • 2. Employees

    2023 2022
    Average number of employees during the period 5 5

HULL & EAST YORKSHIRE COMMUNITY MONEY ADVICE CIC

Notes to the Financial Statements

for the Period Ended 31 December 2023

3. Tangible assets

Land & buildings Plant & machinery Fixtures & fittings Office equipment Motor vehicles Total
Cost £ £ £ £ £ £
At 1 January 2023 11,365 11,365
Additions 5,630 5,630
Disposals
Revaluations
Transfers
At 31 December 2023 16,995 16,995
Depreciation
At 1 January 2023 5,450 5,450
Charge for year 3,936 3,936
On disposals
Other adjustments
At 31 December 2023 9,386 9,386
Net book value
At 31 December 2023 7,609 7,609
At 31 December 2022 5,915 5,915

HULL & EAST YORKSHIRE COMMUNITY MONEY ADVICE CIC

Notes to the Financial Statements

for the Period Ended 31 December 2023

4. Creditors: amounts falling due within one year note

2023 2022
£ £
Taxation and social security 68
Accruals and deferred income 8,290 14,122
Other creditors 698 324
Total 8,988 14,514

COMMUNITY INTEREST ANNUAL REPORT

HULL & EAST YORKSHIRE COMMUNITY MONEY ADVICE CIC

Company Number: 11097260 (England and Wales)

Year Ending: 31 December 2023

Company activities and impact

Hull & East Yorkshire Community Money Advice CIC (HEYCMA) is a money and debt advice service that operates in the Hull and East Riding of Yorkshire area. Established in 2021, we are based in North Bransholme, in Hull, but we support people from across Hull and the East Riding. Each year, we help lots of people from all walks of life escape the blight of indebtedness by providing free, unconditional, fully confidential advice and practical support. Our fully trained Debt Advisers offer advice specific to each client's needs, and they give as much time and support as required to help the client become debt-free whilst working towards financial stability. During the advice process, clients are taught budgeting and money management skills to ensure they have control over their finances, enabling them to remain debt-free in the future. Our partnership with Bodmin Road Church in Bransholme continued to flourish in 2023, we saw over £450.000 worth of debt managed and wiped through our debt service, and over £25.000 in financial gains through benefit uplifts. In 2023 we continued our financial education in schools and community groups. We provided training to 224 secondary school children across the Hull & East Riding area, and we also offered budgeting advice to 73 Drug and Alcohol rehabilitated adults with our partners Renew in North Bransholme. Overall, the demand for our services is growing, and we anticipate 2024 to be of similar trend as 2023.

Consultation with stakeholders

Hull & East Yorkshire Community Money Advice CIC key stakeholders are residents of Hull and East Yorkshire. Other stakeholders include volunteers and key partners. We are committed to consulting with our stakeholders and, where required, acting in response to feedback. We continue to build upon the monitoring and evaluation of our services and respond to the views of our stakeholders through regular feedback meetings, surveys, questionnaires, and other partner consultation groups.

Directors' remuneration

Directors Remuneration is shown in the annual accounts

Transfer of assets

No transfer of assets other than for full consideration has been made

This report was approved by the board of directors on
25 September 2024

And signed on behalf of the board by:
Name: Steve Jarvis
Status: Director