FOUNDATION FOR CREDIT COUNSELLING

Charity number: 1016630
Charity reporting is up to date (on time)

Charity overview

Activities - how the charity spends its money

Foundation for Credit Counselling's principal activities are to provide free debt advice to the financially distressed and following advice either via telephone or online, to provide a range of debt management solutions to meet client needs such as debt management plans and a range of insolvency solutions.

Income and expenditure

Data for financial year ending 31 December 2023

Total income:
£54,731,000

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Donations and legacies £11.87m
Charitable activities £39.38m
Other trading activities £3.13m
Investments £260.00k
Other £87.00k

Total expenditure:
£59,467,000

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Raising funds £2.76m
Charitable activities £56.70m
Other £2.00k

£0 investments gains (losses)

Total income includes £3,248,919 from 3 government grant(s)

Charitable expenditure

Charitable expenditure

Some charities generate all, or a substantial part, of their income from investments which may have been donated to the charity as endowment or set aside by the charity from its own resources in the past. Such investments usually take the form of stocks and shares but may include other assets, such as property, that are capable of generating income and/or capital growth.

In managing their spending and investments charities need to strike a balance between the needs of future and current beneficiaries. They also need to take account of spending commitments that may stretch over a number of future years. To do this, charities will normally adopt an investment strategy designed to generate both income and capital growth. To maximise returns trustees may commit to investment strategies for several years.

Investments can experience large swings in value so trustees may, in a particular year, decide to realise and spend part of their charity’s capital or to invest part of its income.

By clicking the investment gains checkbox the charitable spending bar is adjusted to take account of capital growth as well as income. This shows the balance the charity is striking, between spending on current beneficiaries and retaining resources for future beneficiaries.

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Raising funds and other expenditure £2.76m
Charitable expenditure £56.70m

People

1115 Employee(s)

10 Trustee(s)

Employees with total benefits over £60,000

Number of employees
£60k to £70k 20
£70k to £80k 3
£80k to £90k 7
£90k to £100k 5
£100k to £110k 2
£110k to £120k 1
£120k to £130k 4
£150k to £200k 1

Fundraising

No information available

Trading

One or more trustees are also directors of the subsidiaries

Trustee payments

One or more trustees receive payments or benefits from the charity for being a trustee.

What, who, how, where

What the charity does:
  • The Prevention Or Relief Of Poverty
Who the charity helps:
  • The General Public/mankind
How the charity helps:
  • Provides Services
Where the charity operates:
  • Throughout England And Wales
  • Northern Ireland
  • Scotland

Governance

Registration history:
  • 28 January 1993: Standard registration
Organisation type:
Charitable company
Other names:
  • STEPCHANGE DEBT CHARITY (Working name)
  • CCCS (Previous name)
  • CONSUMER CREDIT COUNSELLING SERVICE (Previous name)
Company number:
02757055 Open in new window
Gift aid:
Recognised by HMRC for gift aid
Other regulators:
  • Financial Conduct Authority
Policies:
  • Bullying and harassment policy and procedures
  • Complaints handling
  • Complaints policy and procedures
  • Conflicting interests
  • Financial reserves policy and procedures
  • Internal charity financial controls policy and procedures
  • Internal risk management policy and procedures
  • Investing charity funds policy and procedures
  • Investment
  • Paying staff
  • Risk management
  • Safeguarding policy and procedures
  • Safeguarding vulnerable beneficiaries
  • Trustee conflicts of interest policy and procedures
  • Trustee expenses policy and procedures
Land and property:
This charity does not own and/or lease land or property

Trustees

Trustees are the people responsible for controlling the work, management and administration of the charity on behalf of its beneficiaries. Generally trustees are treasurer, chair, board member etc. The trustees are responsible for keeping this list up to date and can do this by updating their details as they happen through the online service

10 Trustee(s)

Name Role Date of appointment Other trusteeships Reporting status of other trusteeships
Janet Pope Trustee 01 January 2024
CAMDEN SCHOOL FOUNDATION OF FRANCES MARY BUSS
Received: On time
Michael St John Ashley Trustee 01 July 2023
THE SCOUT ASSOCIATION
Received: On time
THE CHARITIES AID FOUNDATION
Received: On time
Elizabeth Mary Harding Trustee 01 July 2023
None on record
Susan Acton Trustee 01 July 2023
None on record
Yvonne Jean MacDermid Trustee 01 July 2021
None on record
Christopher Mark Wood Trustee 01 February 2021
None on record
Nicholas Michael Caplan Trustee 26 February 2019
None on record
Lesley Jane Titcomb Trustee 21 January 2019
None on record
Barbara Helen Dean Trustee 21 January 2019
None on record
Chris Stern Trustee 01 July 2016
NATIONAL COUNCIL OF YOUNG MEN'S CHRISTIAN ASSOCIATIONS (INCORPORATED)
Received: On time
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST PAUL CROFTON, ORPINGTON
Received: On time

Financial history

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Financial period end date

Income / Expenditure 31/12/2019 31/12/2020 31/12/2021 31/12/2022 31/12/2023
Total gross income £54.56m £60.56m £60.98m £62.00m £54.73m
Total expenditure £56.70m £63.40m £61.59m £59.94m £59.47m
Income from government contracts N/A N/A N/A N/A N/A
Income from government grants £3.74m £10.50m £12.10m £12.45m £3.25m
Income - Donations and legacies £997.00k £1.47m £810.00k £5.04m £11.87m
Income - Other trading activities £5.05m £4.58m £4.38m £3.98m £3.13m
Income - Charitable activities £48.10m £53.56m £53.50m £52.82m £39.38m
Income - Endowments £0 £0 £0 £0 £0
Income - Investment £10.00k £28.00k £1.00k £25.00k £260.00k
Income - Other £403.00k £926.00k £2.28m £134.00k £87.00k
Income - Legacies £0 £0 £0 £0 £0
Expenditure - Charitable activities £51.01m £58.80m £58.52m £57.07m £56.70m
Expenditure - Raising funds £3.72m £3.44m £3.07m £2.87m £2.76m
Expenditure - Governance £367.00k £342.00k £349.00k £378.00k £425.00k
Expenditure - Grants institution £0 £0 £0 £0 £0
Expenditure - Investment management £0 £0 £0 £0 £0
Expenditure - Other £1.98m £1.16m £0 £3.00k £2.00k

Assets and liabilities

Definitions for assets and liabilities
Own use assets

These are assets, other than investments, which are held for more than 12 months and used to run and administer the charity such as buildings, offices, exhibits and fixtures and fittings.

Long term Investments

Investments are assets held by the charity with the sole aim of generating income which will be used for their charitable purposes such as deposit accounts, shares, rental property and unit trusts.
Investment assets are re-valued every year and included in the balance sheet at their current market value.
Long term investments are held for more than 12 months.

Other assets

These are assets held generally for less than 12 months such as cash and bank balances, debtors, investments to be sold within the coming year and trading stock.

Defined benefit pension scheme asset or liability

This is a surplus or deficit in any defined benefit pension scheme operated and represents a potential long-term asset or liability.

Total liabilities

These are all the amounts owed by the charity at the balance sheet date to third parties such as bills due but not yet paid, bank overdrafts and loans and mortgages.

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Asset / Liability 31/12/2019 31/12/2020 31/12/2021 31/12/2022 31/12/2023
Own use assets £8.53m £7.04m £6.23m £3.47m £1.39m
Long-term investments £0 £0 £0 £0 £0
Other assets £16.58m £16.58m £16.38m £22.25m £18.19m
Defined benefit pension scheme asset or liability £0 £0 £0 £0 £0
Total liabilities £4.18m £5.53m £5.13m £6.18m £4.77m

Accounts and annual returns

This table shows the charity's record of submitting annual returns, accounts and trustees' annual report (TAR) for the last five financial periods.
Title Reporting year Date received Received Download
Annual return 31 December 2023 20 August 2024 On Time
Accounts and TAR 31 December 2023 20 August 2024 On Time Download Open in new window
Annual return 31 December 2022 14 August 2023 On Time
Accounts and TAR 31 December 2022 14 August 2023 On Time Download Open in new window
Annual return 31 December 2021 21 August 2022 On Time
Accounts and TAR 31 December 2021 21 August 2022 On Time Download Open in new window
Annual return 31 December 2020 08 September 2021 On Time
Accounts and TAR 31 December 2020 08 September 2021 On Time Download Open in new window
Annual return 31 December 2019 14 August 2020 On Time
Accounts and TAR 31 December 2019 14 August 2020 On Time Download Open in new window
Submit annual return Open in new window

Governing document

Details of the type of governing document the charity has and when it was established.
It is not the full text of the charity's governing document.

MEMORANDUM AND ARTICLES INCORPORATED 19/10/1992 AS AMENDED BY SPECIAL RESOLUTION(S) DATED 23/02/1999 AS AMENDED BY SPECIAL RESOLUTION(S) DATED 01/07/2003 AS AMENDED BY SPECIAL RESOLUTION(S) DATED 06/02/2004 AS AMENDED BY SPECIAL RESOLUTION(S) DATED 13/06/2006 AS AMENDED BY SPECIAL RESOLUTION(S) DATED 02/11/2007 AS AMENDED BY SPECIAL RESOLUTION(S) DATED 22/06/2009 AS AMENDED BY SPECIAL RESOLUTION(S) DATED 12/10/2012 AS AMENDED BY SPECIAL RESOLUTION(S) DATED 07/04/2014 AS AMENDED BY SPECIAL RESOLUTION(S) DATED 08/12/2015 AS AMENDED BY SPECIAL RESOLUTION(S) DATED 30 APR 2019

Charitable objects

3.1 THE PREVENTION OR RELIEF OF POVERTY AMONGST PERSONS WHO ARE IN DEBT (PARTICULARLY IN THE UNITED KINGDOM) BY: (1) THE PROVISION OF ADVICE TO ASSIST SUCH PERSONS TO RE-SCHEDULE AND RE-FINANCE THEIR BORROWINGS; (2) THE PROVISION OF FINANCIAL EDUCATION TO ENABLE SUCH PERSONS TO MANAGE THEIR FINANCES MORE EFFECTIVELY; (3) THE ESTABLISHMENT AND SUPPORT OF COUNSELLING CENTRES TO WHICH PERSONS MAY RESORT FOR ADVICE ON DEBT MATTERS GENERALLY; (4) THE ESTABLISHMENT OF AN INSOLVENCY PRACTICE TO WHICH SUCH PERSONS MAY RESORT AS AN ALTERNATIVE SOLUTION TO DEBT PROBLEMS; AND (5) THE ESTABLISHMENT OF SUCH OTHER SERVICES OR PRODUCTS FOR THE PUBLIC BENEFIT TO ASSIST IN THE RELIEF OF POVERTY 3.2 TO ADVANCE THE EDUCATION OF THE PUBLIC IN GENERAL (AND PARTICULARLY AMONGST PERSONS IN DEBT OR AT RISK OF FALLING INTO DEBT) ON THE SUBJECT OF FINANCIAL BUDGETING, FINANCIAL PRODUCTS AND FINANCIAL SERVICES

Area of benefit

The area the charity can operate in, as set out in its governing document.

UNITED KINGDOM

Contact information

Address:
123 Albion Street
Leeds
LS2 8ER
Phone:
08001381111
Email:
contactus@stepchange.org
Website:

www.stepchange.org Open in new window