Financial Review
Reserves policy
The charity's reserves policy is set out in note 15 to the financial statements.
Results for the year
The Royal Borough of Kingston upon Thames continues to fund our core service to the local community. We have a close working relationship with the officers, councillors and relevant departments, and we appreciate their ongoing support. Our other main sources of funds are from contracts with the Legal Services Commission and the Kingston University Students Union for the provision of specialist services.
The organisation successfully balanced its income and expenditure for the year and there was a surplus for the year on unrestricted funds of £3,774. This increased unrestricted reserves to £63,986. The restricted reserves relating to the Chessington Building fund were reduced by £10,068, being the annual amortisation of the lease. The organisation has no other reserves. Full details are given in note 15.
Principal funding sources
We receive a grant from our main funder (the Royal Borough of Kingston upon Thames) on a three yearly basis and we are pleased that this was renewed from April 2007.
Our contracts from the LSC will continue in 2008-09 but this has been subject to significant changes and requirements. The contract requires a significant amount of management time and continues to be monitored extremely closely because of the financial risks and uncertainties involved.
Additional income was received during the year from the LSC via a consortium managed by the South West London Law Centre. This contract contributes towards for the work we do at the Kingston County Court supporting people facing repossession of their homes.
We will enter into negotiations for the continuation from November 2008 of our existing contract with the Kingston University Students Union for the provision of an advice and information service at the University
In addition to the above, we will pursue other funding possibilities as they arise, in accordance with our three year funding strategy and our identified priorities.
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Client had mental health problems, lost her job, accrued debts of nearly £10,000, living on benefits. We helped her negotiate with her creditors, established a payment plan and now feeling better and back in work.
Client’s tenancy deposit was not returned. Client did not have English as a first language and when we contacted the landlord they agreed to return it immediately and did so. Client felt that they would not have achieved this outcome without our help.