Coventry Citizens Advice Financlal Statements Year Ended 31 March 2024 Charity registration number: 1000487 Company registration number. 02122698
Coventry Citizens Advlce Flnanclal Ststements Year Ended 31 Marth 21Y24 Contonts Page Charfly Reference and Administratlve Detalls Truslees. Annual Report Independent Auditorfs Report Statemenl ol Flnancid Actlrfi118S 10 12 Balance Shegt 13 Statement of Cash Flows Noles to the Financlal Statorngnts 14 15
Coventry Clllzens Advlce Charlly Reference and Admlnlstratlve Detalls For the Year Ended 31 March 2024 Charfty reglstratlon numbor 1000487 Company Mglstrallon number 02122698 TNstoes J Murphy S 8raka J Walker-TIK)mpson C Stephens Cllr F Abbott B Singh M Lloyd L Taylor P Frost IndeFndent- Ch81r Ind8pgndenl- Vlce chair Ind8P8ndent-Treasurer Indendent Nomlnaled 1opresentalfve- Coventry Cbty Counc Independont Independent IndoKendenl Indendent Chlel Executlvè Offlcer & Secretary JPery Reglstered offlce (From 21 September 2024) 1-7 Station Street East, Coventry, Wesl Midlands. CV6 SFL Formor Regl8tered Offlce (Untll 21 Septembor 2024) Hwse, Little Parf( Street. Coventry, Cvl 2JZ Audllor Harrl8on, Beale and O¥%*n knmitod, Hlghdown House, 11 Hlghdown Road. Leaminoon Sp CV311Kr Bankarn National Westminsier Bank FYC. Prlory House. 28 Colmore Clrcus. Queensway, Blrmlngham 84 6DY
Coventry Clllzens Advlce Trusteos. Annual R•port (Includlng Directors. Report) For the Year Ended 31 PAarch 2024 The Truslees present Ihelr rnport and the WLfiled finandal statements of the charity lor the yèar ended 31 March 2024. The Trusiees hav6 adopled theprovlslons ol the Slalemenl ot Recommended Pra¢lico ISORP)"Accounting and Reporfing by Charilles" (FRS 102) in preparing the annual report and finanaal sla18m8nts of the charity. The financlal slal8ments have been prepared in af£ordance with lh8 accounting pofici8s set out in nolas to tho accounts and Comply wlih the charity's govemirwj document, the Charities Act 2011 and Accounting and Roporting by Charltles: Statement ol Recommended Practlce appllcable 10 charfil8s preparing Ih8ir ac¢ounlS In acLyJrdance with tho Financial Reportlng Standard applicable in Ihe UK and Republtc ol Ireland wbiished in October 2019. Trustses ol the charlty The dIrectO of ihe charltablo company are ils Iru5ts8s for ihe purposes of charity law. The Trustees vtho have setved durirKJ the year and slnce Ihe year 8nd wera as follows: J Murphy S Brako J Walker-Thompson C Stephens Cllr F W)bott B Slngh Lloyd L Taylor P Frost (appolnled 1 June 20¥J) Independgrt- Chalr Indepgnd8nt- Wice chalr Independent- TaSurer Indep8nd8nt Nominated preSentatO- Coventy Clty Coundl Independent Indèp8ndenl Ind8P8ndenl Independenl Oble¢llves and actlvltte8 It is a requirement of the Twslee Board of Coventry Citizens AdCe lo ensure thal the organlsation continues to dellver Services for public benefit and the Trustses have ¢onsklered Ihe Charity Commission's guldance on that subject. The organls8llon's charily 0ects are: to promote any charitable pufj>ose lor the publ benefit by the advarement of education, Ihg protectton and preservation ol health arKI th& r8tl8f of povety, sickness and disiress in particular. bul wllhoul Itmilalion. for the b8n8frt of the community in Coventry and the surroundlng areas. l) The prin¢tpal acllvhl8s ol Coventy Cliizens AdYi08 are: 10 8nsure that IndIdual6 do r#)t suffer through a lack of knowledg8 of thalr lights and responsibilities, or of Ihe SeNl¢e avallable to them, or through an inability to express thetr needs effe¢lrrfety and equally. lo exercw a responslble Inllu8nc& on the dwelopment of Soclal Polkles arml seryic8s. bolh l¢)cally and nat)nally. 11) Strai8gles employed lo ach18ve the Charttable oblectlves durfng yaar 20t314. The year began wlth a conilnuation of the fflnaThSal Tumaround Plan. The key prlorflles In the pkn w8re the reducllon In overheads associated with the cost of premlses. to make limited staff redurKlandes. and lo increase Income. ai Premlsos-an initlal Ian forshort term co-locailon with other advlce agencles Inlhe clty was not pursued for econom[¢ feasons. and so longer-18rm aliemalives were identifled. The Board decKled upon relocailng the mah offlc8 to Coventry Build1r Soclety pr8mi8e8 In Foleshill whilst retalnlng a much reduced space in Kikby House in Ihe oty cenlre lor face lo face client appoinlmenls. Redundary - the rodundan¢y process was ¢ompl*ed in May 2IY23 wllh the reduction ol non- operational staff headcounl by 8. Generallng Incornè- income In additlon to budget was circa £400k arainst the Tumarourmj Plan target 01 £2501L b) The Turnaround Plan was complemented by a range ol cost savlng effl¢len¢les whkh resulted In a mh stronger year- end ffinanclal p)sllion Compared to projections. iiil The role and COntrft1I0n8 of volunl8ers. The impact of volunleers Ihls year has bo8n slgnlllcanL At the beginning of tho financial year there were 9 volunteer advisors and 2 reception volunteers. by Decemb8r 2023 Ihls number had ir)creased to 42 volunteer athisors and 10 volunteers engaged in other actlwtles. This volunteer conlrlbullon represenis more ihan £100k of Ilme glven across the year. The rgsult ol Ihis Increas8 in volunteers has meant that we were sllll ab18 to help more people desp5te the s8Nlce impact of the staff redundancies. Iv) Fundlng is nol provhyed through the use of scKial or program related Inve8tments.
Coveniry Cltlzens Advlee Trustses. Annual Report (Includlng Dlreclors, Report) For the Year Ended 31 March 2024 Oblecllves and athltles (¢OnlInd) v) &InesS Plan Followlng on frcffi the changes acn)ss ts Organsall). a wevised lTryear 6[neSS PFan was develop1 ft)r 202416.11. reviewed and UFthted annllY In twlth trminess straw. The key o14&XNgS in the IWsin plan arg revithved ai Board m88tirvJs. Key lundlng streams and prc4ects are rna98d in line with lh8 ntract or grant agreem&ni f aach of the sar4lces. Perfomianc8s ol these ser¥kes are revlvAul ty1he Board on a regular basls. l) Rernodelllng and tho seThkgs. Coventy Cltlzens Att4ke wovbjes a range of servkes. SndudlThJ gengral arKI spedallst ath. The 'unNersal seICe. for which Coventry Cittzen8 IAfvlce Is best known. was rebrarmled lolliM4w a 4rJlunteer staff consulmlon arKI Is r known as 'ASK'. The ¢)perating mjel was reviewed wilh a to IncreasirvJ throwJPprt and Improving oukomes. Thls resutted in a transfornAtk)n of the serYKe such that the lèw8.ad n8' reswnd8d to more than 250 11$ in W. more than 40% up tho wviious 12.th aver46 arthy the time the target of 250 has be&n reached slncg 2018. l wqeQs FundlTrJ lor several nvw prryeds was agre&Y Ihs year 1111nG." ImprovlrbJ access Talklng ltrw¥8s - promoling equltable 5$ to psychobgkal Ih8raples In North Warwlthshire RetNnk menlal h1th rw sw- peO8 wlth health Issues to accass sekvlces Debt Acadry. tralnwu Peo from Wresentl mMUnitieS to pffjvKle sp8cialL8t d8bt athAca. carton transibon ad¥- 9rj people informailon on k>w ¢artx>n oplions such as SMART Melers and sokr and heltyrtyj them sw The ltrsl Ihree of these. aTrl'EmpMrf in Frilar. have suppo1 a dwig8 tn wr apwoach to serd¢o dallvery across the organlsadon. Thls d•nl is part of the planned reM[Irj ot S8rvic8 provislon which has s8en energy. dgbt and olh&r spKidisl seN8s mova lo In ComrTty veftL and locat irfwiih partner organlsatlons. 111 Perfomianca and Ckn Coventry Grtlzens Advice have I¢Ed a ser¥lce to 12,402 {2Y122r23: 11.027) peopb. pr8serflng with a total 0140.698 120W23.' 29,515) Issues, both figu$ rawttent a increase in adiNity des a reojc0n In slaff numbers as a Total finarKial galns for tho year arn £9.647.645 {212123. £7.471.651) Is a swJnlffcant IrKrease on the prevlous year, whk equatss to £T1812022riJ: £678) ol benefft lo exh dirt. another nlllcant Iruea80 Irom 2022rJ. Perfomian¢e of all setNices prqeixs are assessed againsi key d)ieaiw as agre8d with the funders and T88 Fgh qualty Starth mwFrtaEned 1hrolrt year. ith ratirwjs (rf green auoss all four KPI'S. We woutd llke to tharf( dl of $xI1 ttus year, in wlar.. Cardlnal Covontry 8ulkMng Soc Coventy City Cwndl Macmlllan Myton Hosp¥ Natlond Grid NatIOn CItiz• A(fvke Rethlnk St maTn$ in the Fleld
Coventry Cltlzens Advlce Truslees. Annual Report {Includlng Dlrectors, Report) For tho Year Ended 31 March W24 Flmnclol revlew Oncludlng rngerves polky) The gerwal financtal posilK)n for the clwity has Imwed wteraNY this year. Reduction in 0rtd costs. a wide range ol effiaencies and increased incOff have &trIrted lo a more stable nala1 position. The Statement ol Finanryal lfvitieS the yw shows nel Inmme ftjr the year of 5,784 (aga1 a btyjgeted defldt of £180,000) and total resgrvgs of £6CS.685. of whth £173,752 relaies to restrted funds and £435,933 lo unreslr1ed funds. Ths inthdes £150.437 de6trJnated fDr speak purpo ty Twstoos. Resems Pollcy Coventry Citizens Advre's sepAc8s arg fund8d malnty ty ntracts frorn national arKI local organlsalons, charilable Irusts ar some grant furlIa Irom Coverrtry City Council. Most of ttys ctsnes as'roStrf¢led Income and has littl8 8ff6xt on lffje Tha Tnte8s sol the reser p)rtcy In Ilne wAh the gUanCe iss1 by tr¢ Charllles CMiSsio Tho pollcy Is miowod annualty as part of our rk management prSe5. The Ttee5 befve that the charity shouKI hold resery8s because has no endowments, has Ilmited sources ol voluntary In8, ne•Ys lo protect Itself in Ihe 8venl of unforeseen Circumstances to ¢ontlnue its actriities: arKI edS lo ffia1n fle8 ith an abllity to maximls8 fure oprKrtunltles as they arise. Re5erns Include general unreslrkled lunds Uree resoNasI avallable to b8 used in futh8ring the objKlives of th8 Charity in future periods arxl. for puryx>ses of setting wr reswves and the calcuktim of the laryet18¥el of r8serv8& restrictthd and deslgnated funds affj exdudgd. as Ihese ar8 athor unavailable for gen8ral pjrposes or have already been ccwnmllled. The Trustees cOrLIar that th8 mirMmL¥n free reser¥es b8 sd at the level requlred to cover a minimum of three months. runnlng costs. based M trd9al v4tdch e(pJates lo £175.000. The level of free reseTr8s as al ts year.end T#as £285,496 and iherefore the dHrity has with bts reser¥es wlcy. The mlnimum res$ 18vd Is catculaled arKI annu by Ihg Finant%. Rlsk ar#J SulKlI. Ary slgnlfficant changes In actThikn8S or cwrtracttI obtrJatior6 cOd alknt th8 Iwel of reserves vlll ba ThrtOred as and Fuluro plans Agreeing the reducilon of our Klrby Hwse demlse end rMar1 Ihe (Jlapthtso assotsted wlih lease plus flnallslng the aSe lor lh8 n8w offtts In Fo18shill the immediate priority. in ordèr to redwg 0¥8rh8ads and promote flnanclal oJnlklon¢e. sn thg year a1 a1 beth the daio ot this repofL the clwity has $ceSSI1 resolved these More seryices wlll follow Empyw * bekng ddfvwed in settings will enable us kn TWOrt( more ctosety with a range of partners. Knryl8dg6 ol avallable suFPt Is farloss Fyevakni arn youry in th8 area. W¢JlrwJ wlth Goventry College we wlll promots acress our seplirx to mre young pecpb. ensuring are aware of our servtces and Ihose of other organlsalions. also rewittng aLrtIonal ¥onteerS vtho will provtde translatw lo prOts tyjr seNKes and ts make our seNlces more accble to those for Tkn Engtsh is not Ihelrfirsi languago. Wa have been develoFXVV innovth Ideas to res to i(kniffi gaps Ihat WHI )nnI wr exlstlng wvicas arKI maxlmlse the b8neffit to tho of Ctr48nty. and we wlll subtnit Vari(S pro[$ lo try lo these knnded. Th Indudes more supp)rt lor youNJ F¢. specHtst a(kn lor the trthyrnloss ar#1 SUF¥)Ort for'hard lo reach, gr(wps throughwt Coventy. Golng concwn The demand for our seTres a)rfIn to grow. H(Mrnr, the dlawes to werritss efftdendes acmss the board. comkxned 4th ailltional In(me genoralal have ryrovad the fmarKlai pos1. The Board mrutcrfs financHI 1th of the Charfty avKI Ihe short.temi ftyecasls. Thege aré based on corffjeprtlV8 èsllmales of lh8 OUtc¢Jn8 of cnmItted projects. ty tolh value and rnIrvJ. loThANI, there are materfal or Slgnificanl urrtaIn¢ieS abjth the fulure of the Charity in Ihg M•iUM term.
Covontry Citizens Advlce Tru088, Annual Report (Includlng Dlrectors, Report) For the Year Ended 31 March 2024 Structure, govemance and management 11 Govemlng docUMt Coventry Cltlzens Advlce, I0e11Y known as Coventry Citizens Advice Bureau. is a charitable company 1Smlled by guarantee, Inry)01ated on 13th Aprfl 1987 and reglstered as a ¢harity on 2nd O¢li)ber 1990. The Company was eslablished under a memorandum ol assoclailon which establlshed Ihe objects and powets of the charflable company and Is govemed under Ils artlcles of assoclatlon. These articles were updated al Covenlry ciilzens kntce'6 AGM on 4th January 2014. Twslee Board Mernbers und8rtake that. er the Company Dlrectorfs Dlsquallflcatlon Act 1986. Ihay arfr noi under Qualikallon Order, nor are they dlsquallfled by lh8 Chadtles Act 2011 (Se¢llon 178) from acllng as a Charity Truste8. There are 9 Dlr8Ctors of the Company, and the value of each DSrectorfs Ilablllty In ts event of Ihe Charltylcompany wlnding up Is £1. 11) Recruitinent and Appointment of Trustees The dlradors of lh& 1MpanY ara also charity trustees forthe pu of chartty law, and under Coventry Ctlizens Advice artlcles, are known as Trusle8 8oard Members. Undèr ihè requirements d Ihe Memorandum and Arudes ol Ass(wtton, the members of Ihe Trusleo Board ar8 elected to serve for a period of 3 years, after whlch they musl b8 re.elected at tha next Annual G8nèral Meellng Ise& artlcles ot assodallon, paragraphs 41- 471. Trustees are openly recrulted and salectèd fortheir ablllty to make an effectviè contribution to Ihgtjoard through Iheirskllls, knowladgo and experl&nc8, as well as hthng aproven Int8r8s1 In theworkol the organlsatton. Appolnlments are approved by a mseilng of Ihg fijll board. Illl TnLgtee Inductlon and Tralning An Inlital Inductlon meeting is held between p)tentlal Trustee Members and the Chlef Ex8artlve, who furrdshes lh8 Inmming Trustee Board Member wllh the latest publlshed aKounts, the wganlsallonal chart, the prevlous year's annual report, and two sets ot tho most recent Ixiard minutes. Th8 memorandum and artlcles document and sfandng orders lor meeting8 are abo provr(led, Board Members are Invited lo take athanlage of tralnlng that Is on offer by various provldars. Sometlm85 this relates to Sprn¢ furKling streams bul. more Ilkety. covers the broad prlnclFAes that need to be taken on board by all irusiee$. Coventry Clllzens Advice Is a member of Cllizens Athce, Ihe natlonal assoclation. Thg organlsalion meets the quallty standards sel oul In Ciliz8ns Advice's M8rrthershlp Scheme, and Is audltod by Citizens Advic81o these slandards, by way ol the Leadgrshlp Self-Assessment. Th& Trusteg Board Is responsbl& for making policies io eUre Ihat tha organisation complies with the Citizens Advice Memb8rshlp Scheme, wlth charity Lqw, company law. ampIoent raw, health and. safety law. and wlth th& organisatlon's mernorandum and artic18s ol a$slatIOn. Iv) Organlsatlon The Twst8es are collect•1Y responslble for the govemanco of the organlsatlon, and for its effectlve management. Trustees are aware of Ihelr legal re¥Jonsllxlliie$ and Ilabllllles and act r8ason8bly arml pwdarrtly In the Interests of lh9 Qrganlsatlon and avold conlllcts whh other Interosts. The latter Is chethed at every board meetlNJ. Wlth the Chief Executive. tha trf)8 maps out Ils stralegles, sotting aims and oble¢tlve8 and agrees a buslness plan within availabl& resources. The board appro¥es an annual budgd and has flnancial controls and r8POrtlng procedur8s Ihat enable It to ensure appropriate use ol resources and flnancFal stablllty. ThLs Includes an annual revl8w of remungralion for all slatt. in lin8 wlth the lIent HR pollcies and procedures. Ther& are SumMItte9$, Financ&. Risk ar¢d Audll Subcommltt88: and a Peopl& and Remunerailon Subcommlttee, The Flnance. Rlsk and Audlt Subcommltt8e Is responsible for making recommendalons on the level ol r8source allocallon requlred to meet th? [)lIcY oblecilves of Ihe board, and on th8 ulilisation of $uth r8sources. It also revlews monthly management accounls against d981. The People and Remuneration Sulxommittee 1$ responsible for all human résourcgslskffino Issu88, health and salety issugs. equ opportunltles in relallon lo all aspects of eMyment and seNlc& dgllvery. Sirategy and Polity Is dlscussed at board meetlngs. The sul>committees meet separately and make r8mmerlatiOnS to the board. Tho full board meetquarterly, or rnonthly If requSr8d.
Coveniry Cltlzens Advlce Trustees, Annual Report (Includlng Dlrectors. Report) For the Year Ended 31 March 2024 Structure. governance and managemfrnl (conllnued) iv) Organlsallon lo)NlnuedJ Trustees are kept Inlormed aboul the blnesS and activities of th8 organisation by th8 Chi81 Executive and are accountable for govemance vlthout Lwlng directly inVoed In Its day to day njnnlng. The board Is the efflployer of the organisatlon's pakl staff, and direclly recrutts, supp)rts and monllors the Chief Execullve. It delegates the recrultmenL 8UPPOrt and supervlslon of other staff and volunleers lo th8 Chlef Execuilve. The Chlef Ex8CLrtive d81egal8s a rarmje of responslbilities to members ol the senlor management team. A scheme of delegatlon Is In plac&. and day to day responslblllty for the provlslon ot the service rests wih thg Chlef Executive. who is rosponsiblo forensurlng Ihat the ¢harlty dellvers th8 S8rvtces speclfled. The Chief Executlve has responsibllity for th8 day.l04ay op8rallonal management ol th8 organlsailon. ensuring that tha leam contlnue to dèvelop thgir skllls and working practices In line with goc%l practlce and lund8rs' requlrem8rrts. v) Related Partles Covenlry Cltlzens Advice is a m8mbar of Citizens Advice. the na1101 associaiion. who wovid8 SUPPOrt at a rlonal level to all Individual organlsalions. However. indfvldual organlsatlons are autonomous h gengrallng thelr own Income and managlng pr4ects. and Coveniry Clllzens Advlce Is an independgnl charity in its own right. Cov&nlry Citlzens Advlc8 Is an aaiv8 member of the Alfvtce Servic8s Covèntry {ASCI whlch encompasses partnership worklng wllh other (Kganisations InclLKllng the Law Sw8ty. Coventry Independent Advlce SeNi¢es and Age UK. vil Rlsk Management Covenlry Citizens Athllce has completed a cory)orale risk managemeni exertise whh cannot elimlnate all rlsks bul should prowde reasonable assurance Ihal problems are identlffgd on a timely basis. Major rlsks to whlch Ihe tharity is exposed have b88n revlèwed and systems pul in place lo mlligale those risks. The board wlll continue to ravlewthe corporat& rl4( register and ensure Ihal action plans a in place lo mittgate its key risks. Included in 8tsrnal risks Is Ihal of the loss of furKllng. The effects ol ihis have been minimised by funds baing secud from avariety of sources. The charity conllnues lo seek to further rfiverslty its funding sources. Inlemal rfsks ar8 mlnlmlsed by ihe imthmentatton of predureS IOT authorisatlon of all transactlons and prolocts and lo ensur8 consistent quafity ol dellvery for all operational aspects of the charitabl¢ compary. Thase procedures are pgriodically r&vi8wed lo erwe that Ihey stlll meel Ihe needs of tho ¢haty. Th8 organi$a11on has adoplad the recommended Citlzens Advlce poll¢yfor Inlormallon assurance. All staff, volunteers and Truslee$ have lo complete annual Iraining on.. Inlormatton Manag8menl. Health and Safety. Saleguarthng. Equalily and Diversty. GDPR and Financial ConductAuihority Focedurns. A quartety rlsk assessment Is also carrlad out tyeach leam tArfthln thg organisatlon. Yii) Pay poll6ry for senior staff Salary and bènefits are review9d by the People and Remuneration subcommittee. Tha pay torall staff is reviewed annualty, Compadng to similar ro18s and pay Sltvclures of similar OTganisations. awar(ts are made in line with the budgeL Fundralslng Whilst tts tharlty does Incur some expenditure in respect of fundralslng actlvlltes these are on a vary small scale and do not tomi part ol Ihe charlty's princlpal actlvllies. The charity neilher pa1C1pat8S In pubficly Market lundralslng events nor In the aclive sollclting of donallons from membèrs ol the public. Accordlngly, Ihe Charity k% not registered wllh the Fundraising Regulator, allhough the TrLlees wlll kegp ts slluallon und8r review.
Coveniry Clllzens Advlce Trustees, Annual Report {Includlng Dlrector3' Reporl) For the Year Ended 31 March 2024 TN8téo•' ra•pon81blllll08 The Trusle88 (who are al80 dlreclots of Covontry Cltizgns NAlvi¢e lor Ihè pury)os•s ol company law) are respondblo lor pr8parfng the Trustees, Annual Report and the financlal statements In accordance wllh awlcable law and Unlled Klngdom Accounilng Standards {United Kingdom Genorally ACp1 Acmunting Praclloel. Company law raquifes tha Trust88S to prepare financlal stslemènts lor aach flnanclal year. Under company law Ihe Trustees must not aFprove the ffinanclal slatements unless th8y aro sallsfied that they gfve a true and falr vlow of the stai8 ol affalrs of the charltable ccmpany and ol tha Incomlng rg8ources and appllcailon ol resources, Includlng Ihe Income and expondlture. of the charftable company for Ihal perl(xl. In prepartng ts88 finardal statemerrt8, thg TnJslaa8 are required lo.. seleth sullable accounllng p)Ikles and then apply them wnslslenily: obseNe the methods and prfnclple8 In the Chariil88 SORP 2019 (FRS 102): make Judgements and estlmates that are r&a8onable and pwdenl: stale whethor appllcable UK Accounllng Standards have been lollowed, SUbt any materfal departures thsc108ed and explalned In the flnanclal stalemenls,, prepare the Itnan¢lal *atsments on the golng concam bas18 unloss It18 Inapproprlalg to prosume that Iho ¢hariiable ¢x>mpony t11 conllnue In operallon. The Tw8tee8 are responslblfr for keeping adequale aCC¢)unilng r8coids Ihal dlsclose wlth reasonable accuracy at any Ilme Iho flnanclal posltlon of tho charttable MpanY and enable them lo ensure that ihe flnanclal siatsments comply wllh the cOmnI06 A¢1 2006. They afg also rèsponsible for 8af8guardlng th8 ass&ls ol the charStable company and hence lor taklng r8asonabl8 810P8 for the pravenilon and dèiectknn ol fraud and other Irregularflles. In so lar a8 th8 Twstee8 are aware: th8rn18 no ral&vanl audft Infonnatlon ol whlch th8 charttable company8 audlor18 unaware: and the Truslees hava tak•n all steps that they ought to have laken lo make Iham8elves aware ol any relevant audll Inlormatlon and to eslabllsh that the audlior18 aware of that Inlormallon. In approvlng the Tw8to08' Annual Report, we al80 approve the Dlrector8' report InCIled Ihereln, In our c•paclty Company dlrethrn. The TN8t888' Annual Report ha8 bogn pr•pared In ¢anCe wlih the 8p9Cl provl8lon8 01 the Companle8 Act, relatlng 10 8mall ent]1188. On bohatl ol the Board J Murphy. Chalr of Trustees 29 Octobgr 2024
Coventry Citlzéns Advke Independent Audltorfs Report lo the trustees of Coventry Clllzens Advlce For the Year Ended 31 March 2024 Oplnlon We have audllod the IlnancSal stst•Ythts of c71ry Citlzens {tr• 'charilabl8 ¢(Mpan lor tho year erKled 31 March 2024 which compdse the Statgmenl of FinAn1 Aclmlies, thè Balancg Shgel. Ihg Slalgmeni of Cash Flows and Notes to It Financial SLements, induding a swmmary of sgnlficant a¢c(wntirvJ poficles. The financial reFKrtlng framework that has téen In thelr preparatK)n is appli¢aY8 law and United King(lom A¢counting Standards, indudlng Flnanclal Reportlng Stsnda 102 The Rnancid Starnlard aFplcable In the UK aThJ IWbllcof IreL8nd Iunlled Klngdom Ganeral Accepted urrttng Practu). In our oplnlon ihè fInand statemenls: gl¥8 a tru8 and falr VI of the at8 01 th? charitatle eompany'8 affalr8 as at 31 March 2024, and c4 its IIng resources and alCalm)n of fastre88,1 its Irr4)me and experrfliturg. for the year Ihw) anded: have be propéty wepared tn acrnriknx with Unlied Khm G•wally kwt•J kOntIr0 Pracllce; and 8ag1s lor oplnlon Wo cOndlted our au(th In accordanc• with Inlemaoonal SiarKlards rm Audlllng IUKI IISAS IUKI) and applIcaa law. Our responsibllltles under IIK)So siandart16 are lurther descrEb8d In lh8 ALrfiiorfs ro¥KJngblllilo8 for Ihe audlt ol tha flnanclal 8talemenl8 sectlon ol our rewrt. We aro lThJ¢p¢ndenl ol ts charilaU8 company In acctydance wlth Ihe 8thlcal raqulrements Ihal are relovanl lo our audll ol th8 flnwKlal stalements In Iho UK. Includng th8 FRC'S Ethul Standard, and we have fulfllled Qui other olhk81 rosponslblllil8s In a¢nCe tmih these rgqulr8m8nts. We bdlave that the audli evldenco we ha ¢Jbtalnod16 sulftclent arKI approwlale lo wovkle a ba8L8 for OLY OFdnbn. Conclu•lon• rntsllng ts golng In audliing Ihe finanual slalemenls. we have ccnclLthJ Ihal the Tnts88' ol concem baslB of aC0ntIng In th8 preparailon ol the financlal $taiom6nts 16 approwlalg. Based on the worft ¥$ have Frformod. we have not idwtlllgd any material uncertainllos felattng Io ovonls or concollons that, IrKlfvldualty or cdifvety. may cast nltkani doubt on the tharitable Mmpanls ablllty to ntInue 8$ a golng concom lor a perlod of at lea81 t41% fflonlh8 I ththon ts ffina staknnents aro aLrthy18ed lor168U•. r responslbllltle8 arrtl th• respo1111181 of thé Tntsh88 vrith rn6PKt lo golw (xxKwn am do8crfbed In Ihg rnlgvant 8ectlon8 of th18 rq)orL Oth•r Inlornwllon The other Infomallon comprlses Ihe inlomiation Induded In the TnJstees' Annual Repm. oih8r than Its fflnanelal 8lalements and our audltorfs tF¢reon. Tr¢ Tntsiées are resp3nsitkn for lh8 oth8r Infom)aiion Contalned wlihin thè flnanclal statemenls. Our onn on Ihg flnanclal ststements does not cover the other infomalbn ar#Y, ie th8 8Xtenl olherniso axpllclily ated In our report. we O) not express any lorm ol assurance •XJnduslon thereon. Our re$w)nslblllty 18 to re1 the hOr inlornHlkm and, d(xNJ so, conslder whether Ihe olhèr Informatlon Is matedalty Irmnslanl wllh thg IOnala1 slalements or Ixjr kTh)YAedg8 oblainod In th8 coutse ol Iho audit or othen¥iso appèars 10 be malerlally rnlsstated. If w8 kl8nlify matedal In(x)nsislerK or apparent maierlal mls6tal8ments. we ara requlred lo detemilne vtheiher Ihls glves dse lo a materlal mlsstalement In the fin181 stalomenis lhernselves.11, based on the work we have perfornd. we cld Ihal thern Is a matsrfal nTh88ta1emI of thls othor Infomatlon, wo are roqulred io report that IKI. We have nolhlng Io fewi In Ihls regard tters on whlch we ave roqulr¢d lo report by ox¢epllon We have nolhlng lo report in respect of the 101k mattws In relatkffl lo filch the Charltlos {Ac¢ounts and Reports) Regulallons 2008 requ8 us lo report lo you If. In our q)ili. Ihe 1n1onnaon In Ilrwxial siatemants Is IrmWnt In any maiorkl rwt wlth lh8 Trustsos. r0POrt' or the charftabfe compary has nol kerrt adewato accounting recfflts; or the financial S&lents are In allre wilh th• ac¢ountlng records arwj rettms: or we have nol receNed dl Ihg infomwkn exFdanallons we rewlre lor ¢xJr a111. 10
Covenlry Clllzens Advlce Independent Audltor's Report lo the trustees of Covenlry Cltlzens Advl¢e For the Year Ended 31 March 2024 RponsIbIlItIe# ol Tru8te8S As explalned rnore lully In the TnJstee$' re8ponslb611ti8s stalemont set out on page 9, the Trustees (who 8r8 also the dlrectors of Ihg ¢harllablè company for ts POseS of company law) are responslble for the preparallon of the nanclal statements and lor b8lng satlsfiod thai Ihgy glv& a tN8 and falrvlew, and forsuch Internal conirol as the Trusiaes delenrtlne Is necessary to enabl& the preparallon of flnanclal stalements thai are free from materfal misstatement, whether du8 10 fraud or error. In prapailng Ihe Ilnanci81 Slalements, tha Twste88 are rosFonslble for assessing the charitable company's ablllty to ¢Mtlnu8 as a golng concem, dLsclosSng, as applkable. matt8ts related b golng concem and uslng the going concem basls of accountlng unless Ihg Tru88$ 85thèr Int8rn% to Ilquidate the charllable o)mpany or to cease op8rallons, or have no reallstk altemafve but lo do 80. Audltotr8 r88ponslbllltl88 lar the audlt ol the Ilnanclal 8tatoments We have b89n appOInt as audllor under sectlon 144 of th8 Chartlle8 Act 2011 and reFort In a(xordanc8 vAth regulation$ made under sectlon 154 of that Act. Our obJ8dfve8 arotoobtatn rea8onabl8 a8suranca about*tther1h•IInanclal statements asawhole arolreèlrom malerfal mlsslalemenl, whether dua lo fraud or arror, and to Issue an authlofs rewrt thal Includ&s our oplnlon. Reasonable assurance 1$ a hlghrgvel of assurance, I1 Is noi a guarante• thai an audll cOndU8d In accordanco w6th ISAS IUK) wlll alway6 deteo a malertal mlsslalemenl when 11 exlsts. Mlsstsiements can ad88 from fraud or error and ar8 Conddgred mat8rial11, Indlvldually or In th6 aggrègate, Ihey coukl fOonablY b8 8xpeclod lo Inllugrw the economlcdeclslons of u88r8 taken on thè basls 01 th88e ffinanclal 8talements. Irr8gularllle8. Indudlng fra1, are IMlance8 of non<ompll8n¢8 I¢h laws and regulatlons. We deslgn procedures In Ilne wllh our ro8pon8lbllliles, oullln8d above, to dolect malerfal ml88lalern&nts In respect of IrregulariileB, Includlng fraud. The exlenl lo whlch our procedure6 ara capabl8 of detectlng Irr8gularftla8, Includng fraud Fs delalled below: The authl process Includ08 an a85968ment of th8 8ntlii8 rlsk onvlronmenl, through enqulry of and dlscu88lon wlth management and thosé charged wlth governanc8, Includlng an a86e6smént of any kay laws and regulat10 wllh whlch Ihe charllablg company must comply In the ordlnary course of Its op8railon8. Addlllonally, the ovorall r18k8 ol Irregular Iran8actlon8 oc¢urrfng ar& aBB88S8d followlng our ob88rvailon$ and conff mallon ol the d88lgn and Implomenlallon ol m8nagemenl'8 Controls. Whll81 we are mlndlul of these rl8k8, our audli I818 g8aied ioward8 tha r18k ol maiorfal ml88talemant In the Ilnanclal staiemenl8 88 a whol8. As such, our procedures rAnnol guaraniee Ihal all Iran8acllon8 have been lully compllanl wlth all relevant law8 and re9ulallons, Includlno those regulallons relallng to Iraud. a$ our procèdures are not deBned lo d818ei all Instanc of non- compllanc8. By deflnlllon, the rlsk ot our dat10 of non-compllan¢e16 greatèr where compllancg wllh a law or regulallon 18 removed from th? events and tran8actlon8 r8llacled In Ihe Ilnanclal statements. The rlsk18 also greater regardlng Irrogularlll88 du8 to fraud raiher than èrror, as Iraud Involvgs Inlentlonal ¢oncealmenl, lorgery, collu8lon, omls8lon or ml8reprn8•ntatlon. A lurther d96crlpllon ol our r88ponslbllllle6 lor the audli of tha flnanclal 8ts1ements18 l¢Jcated M the Ananclal Reponlng cn¢[l.8 webslie al: Thls d88crtpllon lom8 part of our audllorfs rewrt. U80 of our report Th15 report 58 made 801gly lo th? ¢harftable company'$ Trte0S, as a b(. In accordance wllh Part 4 of the Chadile8 (Accounts and Reports) Regulatlons 2008. Our audll woth has bean undertaken so that might stale lo tho chadtabl8 company's Trustees those matters wè aro requlred to 81ale lo Ih8m In an audllofs report and for rto other pu0$8. To the full8SI exlent pennltted by law, we do noi accept or assum8 responslblllty to anYe olhèr than th8 charitable company and the charllable compary's Truslees a8 8 boty. for our aud51 wort for Ihb report. or for Iho oplnlons we have lomwd. Harr1$¢ Beale & Owen Llrnkod Hlghdown House 11 HlqFwJown Road Leamlnglon Spa WaVckShIr0 CV311Kr Dale: 29 Cknber 2024 Harrlson Beale & On Llmlled 1$ gltgltle lo ad as an audlior In tem)s of Secllon 1212 01 th& Companles Act 20Q6 11
Covenlry Citizens Advke Statement of Financlal Acllvltles (Including IrKome arKI Expendllure Accounl) For thè Year Ended 31 March 2024 2023 UnreBlrlthd Restrlcted lund8 Tolal Incom8 and endowments Irom: Donations and legacies Charllab18 acfvltl86 Other Iradlng 8MMIi8s Invoslff¢nts 741 2.409,209 2.800 2,290 641.7 1.051.862 1.693.169 Total Incorne and •ndrywn 650.939 1,052.930 1.703069 2.415.040 ExpdItm on: CharItats acdvthas 511428 1,115.6TI 1,628,105 2.458,212 Tolal oxpondllur• 512,428 1.115,677 1,628.104 2,456212 Net Incomthl (wmdlth) 138,511 161747) 75,764 141.172) Tran•fern lJolw•en lund• 17 (6.6701 131,841 {$8,0771 75.764 (41,172) Aeconclllatlon ol funds: Tot lurK18 bmLwJhl loThvard 17 533,921 575.093 Total fund• carrled lorwa 17 173.752 609,685 533,921 All Inc4Th1 and exp8ThJltwe derlvo from ccthlro adlvlbo8. The stalement of finatxlal actr4111gs Includ&8 all galn6 and108 rwnl8ed dudng tho yw. 12
Coventry Cltlzens Advlce (Company Ilmfted by guarae8 reg. number: 02122698) Balance Sheei As at 31 March 2024 ZI24 2023 Tangl@ assets 11 Debto Cash * bat and In hand 12 114,860 672.292 787,152 372.708 31,463 7fJ.171 Credhor8: amounts l•lllng due t•thn ar 13 183.951) {89,2S)) 703,201 633.921 Total 0888ts ItsWIItIos 633.921 Credltor8: amounts falllng after morn thon ane y 14 {100.000) Provl8lons lor Ilablllt 15 (100.0001 609.685 533.921 Charjty Funds R8siricbJ funds Unreslrfcted fur 17 17 173.752 229.V29 304.092 Tolal elmrlty 533,921 Forlh& year endlng 31 March 2024 comparry Wds entrfed exemptionfffjm undersection 477 01 tho Companies 12006 relallng to small o)mpanies txrt as thi5 company is a carity. il Is SLO]8CI to audtt under th8 Charlues Act 2011. Dlrectors. re4)Dle$. The members have not requlred the c4)mpany to obtain an oflts tsrthg year In qu8stk)n In acu)rdar ¥th sectton 476 of the Companies kt 2006. The olrectors acknowledge thelr res8$ lor IXXTWyiw whh fv rwirngnts of the YAth rwt to account]ng records and the preparation of acciwnts. These Ilnandal staiements have tJ8en woFxred In aCCdn 1lh ts spedal of Part 15 of fv Companies Act 2006 ralatlng lo nail corpaThe& The Ilnanclal statements aped artlK•rlsed ts Issu8 ty Ihe Board on 29 Octor 2024. stgnod on behall of the 8oatYl of Tntee8. J Walker.Thompson. Ttustse J Nlurth, Tnjsteg The notes on pages 15 to 26 Irn Ixrt otth8so stateme. 13
Coventry Cltlzens Advlce statement of Cash Flows For the Year Ended 31 March 2024 2023 Cash flow Irom opernllty adm 19 225.164 (201,7491 Cash flow from Inve8tlng acuvllles Intere r8celved Puhase of tanglble flxed ass 9,632 (12.96n 2.290 13,3351 2.290 Cash fl¢>w from Ilnondng actl¥ttles Loan advanced 100.000 Net Cagh 11¢ from flnanclng actmdos 100,000 Not Increa8e l (deuth8e) In cash and ¢ash ¢qulvalonts 321.829 (199.459) Cash and ¢a8h equl¥alents al 1 Awll 350.463 549.Y22 Cagh and Cash equlvalenls at 31 Mar 671292 Analy818 01 changes In not funds Al 1 Aprll Cash Ilov Al 31 March IA Cash at b8nk arKI in hand 321.829 672,292 14
Covenlry Clllzens Advlce
Notes io the Flnanclal sialthneiits
For the Year Ended 31 March 2024
knmary of 8lgnlllcant aecouftty pollcle8
(0) ¢3¥bw•I Infonnollon and baal$ d wparnik
Coventy Citizens AcbAce 18 a privats (xirwy linbted iy gJaran&. incorForatèJ in England and Wales. In lh8
8nt of tha charity up. ts rAlty In respecl of lh8 guarantee Is Ilmlted £1 member of the
charlty. The CCAnpary number and Iho athjress ot the registe office * givw in the tharity InfOallOn on page 3
Thè finani?d staiemenls have lJ8an prepared in accordm wilh Accwntlw arKI Rep)rtlrwJ by Charllgs: Sial?mènl
Staftd 4lFlicable h the UK arnl Repth of Irdand In Cktotrr a)19, Ihe Flnandal ReKvMtrbJ Standard
apFknle In the UK arKI Rewblk of Ir81arKI IFFts 1t)2). th? 2011. Ihe CnIeS ki 2006 arKI UK
The charity c¢m8tituW a wbfic berwfft entsty as deltned by FRS 102. Assets and IFabllllles are fnlllatty reccosed
at hÉslortc cost or Iransathn value uftless otherlse slated In the rdevant acA)uNlrvJ policy nok(s).
The slgnltsit aCCnr0 polkles In the weparbn of Ilw flnandal statemwts are satout bekfyy. These
llues have been condsteth lo all years wesèrted unless oth&Nryse stabj.
(b) Funds
Unrestrkted furKls are avbl8 lor use al dlsfxekn of th8 Tntstee8 In further of tho general ote$
the and which have not IMn designated for olher w585.
0èswjnat furxls e$ed fun¢ts Ihat have been set aslde Trustees for parlcular pUrSeS. Th8
alm and use of each dnaled fvrKI Is sel (rt tn the notes lo the finanoal ststeffl8nts.
have b88n raised by thè charfty for part¥)Jlar wrposes. The costs ol ralswo armd admlnlstedng such funds are
arged agalnst tre rrtI. The abn and use each resthctsd fur In the nots5 lh8 financial
statemen
(c) Inc
Coventry Cltlzens Advlce Notes to Ihe Flnanclal Statements For the Year Ended 31 March 2024 Summary ol slgnlllcant a¢c(AMrtlng pollcleB (¢ontlnued) (c) IrQme wocognlllon (contlnuedl Income from Iradlng adiiitss Incl irtome eamed furKJraisiw events and Irading actiVTties to rais? ffiJnds lor Ihe charity. Income is receivfyd In exthange for suNAying gd$ and sopites in order to raise funds and is Inlere Irm is rwlsed usiTrJ the a11¥0 Interest rale meth(Kl and is recg)gnk%ed as the charity's rfght lo (d) Expendtt vecognlllon Ail expen(thwo is a£oJunted for on an ac(xuals basis arnl has been cknlfi8d under healfjngs that aggregate all costs related to the category. ExpIlure is rwlsed knth8re there is 818gal or conslNclive obllgafjon lo make payments to third parties. it is pmbatle thal the Sett will be reryJir•Y and the arno1 of Ihe obllgation can bo Expenditure on charitabb adivilw indudes Ihose costs In1[ed by the charity in the ddvery of its acfviknes and sentices for ts benef¢Aries. kx)th (x)sts that rdate threcuy to an acllwlty and those ofan irnyirect nature neSSary to SUF1 them. Support costs are thoso thai assist the ol the tharity trArt nol represent dr[lable a¢tivllla$ and Incl10 olf¢e costs. govemance costs and admintslratN8 payroll costs. They are Incurred dlrectly in support ol expendilure on th8 obiects ol the charity a1 Ind managemart wrted out al H9adquart8rs. Where supwrt c#)sts cannot be dir• attribut8d to partr la01r Ihey have been all(¥cated to exp8ndtlure on charitable aclivllies on a basis corffjbtenl ith use of the resources. Tr bases vthl(J) support costs have been allated are: the kngth ol the proig¢x: & Ihe mmber of FfE pYed on Pro The analygs ol these ry)sts Induded in note 6. (Q Tanglblo Ilxed asts Tangi)l& fixed assets are captaf¢ed wtr8 expendllure exceeds £1,000 and are Staled al cost {or do8m•J costl or vafuation 18ss accumukied dqxeualim aTrJ ac0JMated knpalrmenl Ioss9s. Cost Indudes $ts 07rectly attrityJtable to ftwklw lh8 ass6t capable of operatirmj as Intsnded. Depreciation is on all #rYJible ed assets. at rales cakx1lal 10 off the CfAL18ss estlmated residual Computer ewwent 3 T6 slrayht lin8 Ftttures and fftii 3. 5 >ars straight Ilne Mott)r vghicles 2 years strat lino Where assats are proiact spedlk they are in lino tlih the I8 of Ihe prol Ig) Debtor8 and credllorn mlv I payablo wlthln ono year Debtors and credttors rK> Stalod hrterest rat8 and laLle or payab witrdn cne year are recorded ai (h) Flnanclal In8trumenls Loans and bIngS ar8 Inrtdty recognised al the trar6xtiM hKludrvJ transackn costs. Subsequently. they are m8asured al amcrflis&J tJ)st uslTrJ the ellective iniorest rale method.1&8s Imp81rmenL If an arrangemant 16
Covenlry Cftlzens Advlce Notes lo the Flnanclal Ststements For tho Year Ended 31 March 2024 Summary ol slgrfficanl aeeounllw poll¢les (conllnued) (l) Pfovl8lon8 Provisions are recognlsed when ts dBrity h&% an obfybon al th8 balance sheel date as a resuli of a past evenl, it Is probtha that an outtIty of economic bernffts ill be required In saiilewI and the amount can be reliatAy estlmated. a) Lee889 R&rtals payable and receivable urthr I)pWa leases are charged to ts SOFA on a straIghl.ne basls over the perlfyy of ts lease. (k) Emphyee be1$ Wfn errwwees have rend8red serAce * the chatty. rt.¢0m7 employee beneflts to whlch the èrry>loyees are entlll•J are rwLsed at the und{nted amount exp1 to be paKI (n exdMng8 f(Y thal seNlce. The tharity OFeratss a deffird Cornrlxjtion penth pkn for Iha benefft of Its emplow. Contrlbullons are Redundancynernination payffonts are dIargl tothè SOFA n the pwbd to whlch tlw retale, once Ihere Is a legal or ¢onstnJciNe oblkJation to make the paymenL O) Tax The charity 1$ considered pass tr lests set out in Paragraph 1 SlUIe 6 Fwwlcè 2010 and theRfoR 6t meets the definltion of a ¢wltthe c(Mnpany for UK axpornlN)n tax wfp08es. As Sh. it does not Ilability lo cijrFM)ratk tax In the c¢Jurse of Its nonrol charitatle activitie& (m) Golng Mncorn The finawal statefflants have ts9 wekxred on a g)ing c¢tsm basis as the TrnJste8s Ihal no materfal uncertalnties exisl. The Tru8es have the ve1 of funds hekl and the expectsd lèvel of income and experKlilure for 12 mrrths from authortsing thes8 finawal staiemwrts. The 1Xgeted Income and expendIre Is sufficlent Ythh the level ot reseNes IN the charity to to continug as a wlng corlcem and Truslees have In(x)ryJorated any relevant rtsks Into thwr assumpkns undertythg ts preparatlon of the budget. To ablg to fyeparo slatements in axx)rdance wlih FRS 102. the ¢lHrity must make c¥rtain estlmates andjudg8m8nts that have an Impact on the wtki85 the amounl reported in the anwal accwnts. Th8 estlmales and ludgerFWrts are basad on historlcal exporiences and other f&tors i[u07ng exFCtstiorts of future avonts that are bellevfjd to r8asonable at lime such estimales 18m8nts are made. 17
Coventry Cftlzens Advlce Notes to the Flnanclal siatements For the Year Ended 31 March 2024 2024 741 1,068 741 2023 comparalives IUde of £741 In Unrestrad ld$. Incom• Irom ¢harltablo aclMIIo• 2024 2023 Uwes¢rkled Restrted 641,307 1.051062 404,599 2,004.610 1.693.169 1409.209 Irmno frorn dw1ft0b acO¥tttes Inckths gtrlemment gran¢6 01 £253.527 (2023: £863813). Room hlrn 2.8CO 23 Inter88t. dep$ 2,290 9.832 2,290 2023 comparat9 intsrest 01 £2,2WJ kn uftTestrf•j fund8. 18
Covenlry Clllzens Advlce Notes to Ihe Flnanclal Statements For the Year Ended 31 March W24 Acllvltleg &Jpport and Total Total 2023 dlre¢Uy Staff c4)sts Recrultment arKI othgr Tralnfv Travel Cllent expenses Volunteer exponses 1,065.V26 182.674 3,270 407 1.248,000 7,672 1.693,445 27,563 3,936 6.693 33.791 616 19.493 150 3,873 2.308 56.513 56,513 2.9&8 417 7.222 629 Publtdty 629 20.457 10.368 14,795 1.515 4,915 9.671 PrinlirwJ. postage aThl stat Tel8phon8 Insurance Rent. rates and seNk6 tharges Heat aThJ light &853 17.525 1774 13.848 12.445 9.573 17.679 17,679 17.096 and maintenarm COmpur ¢osts Settlement costs PrOfessial f68s 62.320 27.301 34,076 10229 16.972 421,610 13,150 10.114 8.824 364.756 11.374 24.106 1.263J49 1.628.105 2,456,212 20ZJo)mparatrves bude8xpOrthO1l acfvitr8s und8rtaken thecltyof£1.959.459 and support and govemance costs 01 £496,753. 01 tPts ex. £W3,859 was wiihin unrestricted funds and £2,072.353 withln Audttorfs remunerallon Profess1¢y1 fees Staff costs Olher 6.311 12.310 63.783 1,516 11.374 53,339 349 71,597 83,920 19
Coventry Clllzens Advlce Noles lo Ihe Flnanclal Stateme For the Year Ended 31 March 2024 Nel Income lot the yr Net Is stated after ¢harging l (¢re£iting): 2024 2023 Audllorfs romunerali Deyedailon Operatlw lease rgnty 6,535 6.483 73,648 6,311 74,074 Tho Truslees nethor rwfved ncK waP4ed ary rgffluneraikn dwlNJ tho year (20¥J: £nll). No TrusloeB (20¥J: No Twslefys) had expTh8 for travel r8lrnlwTrod (knlrwa yw. The charhy eonsldars hs key managemerf personnel lo wrls8 the Tntstees and tho Chlef Ex818 Ollker. The lolal eM0yMenl b8n8111s IndudkvJ pensi1 ol key ThAnaggmern wrsmnel was £68,614 120rJ: £86,101). Tho average monthty fflb8r of tha year. oxwe8wI a8 full.ume ewlvalont8. wa8 a8 lolh)w8: 2024 2023 Numbor Nurnbor Charllauo aeil¥ftle8 M•nagamont and adNdnkntbD total 8tsff costs and emthw. Lwneffts wa8 as fdlry•A: Wag08 and salark 1.108.286 1,494,547 131.7SI 67.131 5.098 Deflrffjd conlrfbutlon pen8lM I•ts Bureau a90Y costs 48.870 3.687 1.251.687 1,898,543 One12023: One) èrwoyeo recefvod loll ernplOY beneffts (exdudlNJ •nployw pen*1 cosls) ol moro than £60.000.
Coventry Cltlzens Advlco Notes to Ihe Flnanclal Slatem For the Year Ended 31 March 2024 11 Tanglblo flxed assets Vehleles Cost or valuatlon: At 1 April 2023 Additxjns Al 31 March 2024 166.946 1205 66.6rJ 12.967 12,967 12.967 366.1 166.946 12075 66.6T3 lroclatlon: At 1 April 20fJ Charge lor the year At 31 Mar¢h 2024 166.946 120J75 66.6TJ 353.994 6.483 166.946 120975 6TJ 360,475 Ilot bookvaluw. At 31 March 2ce4 6.484 Ai 31 Marc 2(Q3 12 Deblov8 Trade d8bto 109,207 5.653 347.018 114.860 372.708 13 Cr¢dltorg: all lalllng due wllhln one 2024 2023 Trade creoliors Other lax and socw se Other uedito Accruals 22.710 29,133 r8,11Tr3 30.468 21,842 13,205 83,951 89.250 bg8n met. BakrKe at 1 1 Arnnts released b thcomh¥J rasou 25.000 (25,000) 14 credIr8. amounts falllng aftw more t1 on• yoar 2024 2023 100.000 100.000 Other loans o)rrprise a toan a[trn¢ Irom May 2023. on an interes1.8 basls. whlch Is repayable quarterly by Instslments from JU 2025 up to Marth 2026. Eaty settlemtt &% p8nnttte 21
Coventry Cltlzens Advlce Notes to Ihe Flnanclal Statements For the Year Ended 31 March 2024 15 Provl8lons lor Ilabllltle8 Dljapldatlons 2024 Balance at 1 Awl 2023 Uiilised and relaased to Slalement of Finandal Activities 100.000 {100.000) Balance at 31 March 2024 A flnal selUem8nl was agreod wlth the landlord In respecl of all dilapidalions in February 2024. 16 Lea808 Total future mlnlmum le&8e payments under non-cancellabl? oporaling leases are a$ follows: 2023 Mol lat8r ihan ono year Later than one and nol later than fi¥e years 22,937 1,185 2.785 22,937 22
Coventry Cltlzeng Advlce Notes to Ihe Flnanclal Statements For the Year Ended 31 March 2024 17 Funds Balance at 0110412023 Balance at Expendlture Transfers 31103f2W24 Income Unrestrlcted lunds General lunds De$lgnaled lunds: Relocatlon resen Restructuring r8S8Ne Development fund Soclal supearket Total unre81rlcted funds 274.092 650,939 1512,4281 (127,10n 285,496 20.000 10,QIXI (11,000) (10,000) 100,000 41,437 16.6701 9,000 100,000 41,437 435.933 304,092 650,939 1512,4281 Re$trl¢ted fvnd• CIIA- Money Athke Sepilce Nationwd8- Reach Eveson . Reach CELC- Health Jusll¢e HALS NHS Coventy- HivrfB Macmlllan CBS ASS Macmlllan Myton ClIA- Penslon CBS Hard8hlp Fund Sue Oarflng Hardshlp Fund BSS Cardlnal Ltd- M*r Trau Help Sn Crlsls Sl Martin in Iha Fi&tds- Frontllne CBS Debts CIIA COL Mental Illne8s- Peer Support Mental Illness- Talklng Therapy CBS- D8bt Acadomy Iniegratlon Total reslrlcled lund8 278.072 1277.9361 19.403) (8,848) (10.658) 131.632) 132,301) {311.130) {38.637) {48.520) (115.819) (31.068) (3.449) 9.403 8,848 10,405 25,000 30.000 306.559 8,632 5.140 2,839 4,571 28.837 48,520 117,058 8,351 31,068 2.722 364 4.077 12.495 13.532 4.127 15.000 9,590 1.068 351 364 1.193 41.000 (43,884) (12.5201 (34.149) 135.400) 115.000) 119,901) 11,9081 135,319) 1.805 11.115,6771 32.978 50,000 12.361 18.727 18,080 6,875 87,315 1.821 4,967 51.998 71.228 173.752 69,423 229.829 1,052.930 8.670 Totsl furn18 533.921 1.703,869 {1,628,1051 609.685 Fund degcrfptl¢)n$ Relo¢ailon reserve Funds set aslde lo manage relocatEon of olfices. Restructurlng res FunLts sei d9 lo manage staffing reStruUre due changing conlracts. Development fund Funds set asid& lor th8 future d8veloFAnerd of ts charfty. Soclal Supemiarket Donation from Covenlry Builthng Soclety for prolect fuThfing over 2024 and Into 2025. 23
Covenlry Citizens Advlce Noles to the Flnanclal Slatements For the Year Ended 31 March 2024 17 Fund8 (conllnued> Fund descrlptlon$ ClIA- MAS Funrfing from ts Money Adv for the provision of debt advice. Natlonwide - Reach Funding from Natlonbwde Bulldlng sIety lo offer on debt. budgeting. houslng and benefits issuès. Evesonl Sainlbury Reach Grarns lowards woth clierts who have h¢)using Issues. CELC- H8alth Justice Central England Law Cgntre Health Justice furKllng lor wo In GP surgerles. HALS Grnnt towards access to early soclal welfare andlor famity legal advicel support, to 8nabl8 users to rosolve th8S8 problems as early as P)ssle or olherwlse supwrt liliganis in person through thetr legal joumay. NHS Coventry- HIVI TB HivrrB Grant to provide casework to P8ople with HIVITB. Macmlllan Grant towa$ advlce sece lor cancer pallents arKI Ih8lr famili8 CBS ASS Funding from Coventry lIdIng Soclety lo cover the costs of addltional Athke Session Supervlsor and to manage volunt88rs. Macmlllan Myion Funding Irom fvknlllan and MY1 to provldg advl¢e lo people in the my1¢ HosptC8s and ihelr famllles. CAtA- Pension W8 Grant towards the Penston Wlse Service, io ensure that consumers who are approachlng rollremgnt wllh dellned coniiibuknon p8nsion pots Ylll be offered gidae on how to make inlomied and conftdent declsions on how 10 use thelr ¢ontrfbution savlng5 in raiiremont. It 1sdeslgnedfortt8e over Ihe age 0155. CBS Hardshlp Funding from Coventry Bullthng Sodety to holp vulnerable eliants with 8anknJplcy, DRO and Emergency support. Sue DarThng HashIP Fund Fundlng to allevlate those in aggravaigd nead. Cardinal Ltd- Mr Trauma Funds toward6 Ihedellvery ofslgrpostlng Partnwship SeNl¢e that alms ts facllliale aesS lo advice on matteB suth as welfare benefits. houslng, legal 8eNlces arKI rehabllliaiion lo MaiorTrauma C8ntre {MTC) pationts andlortheirfamllles and Care whlL8t In hospital. Help In Crisls Grant enables th8 charfty to provld8 practtcaj and omollonal suppon lo clients who are homeless or vulnerably housed. Th8 project is belween Coventry Clilzens Advlc8 and Vall&y House. St Martln in the Fl8lds- Frontllne Network Funds to build up a nefvrt¢ ol houslng and homelessn8SS VrkerS across city. 24
Coventry Chlzens Advlce Notss to the Flnanclal Statements For Ihg Year Ended 31 March 2024 17 Funds (contlnuod) Fund descrlpllons CBS debts Fundlng fom Coventry Bulldlng Sodety to cover the (yjsts of addllional debl advisors. CIIA COL Fundlng from Natlonal Citizens Advice lo as61st wlth the èffects ol changas in the cost of living. Rethlnk Merrtal Illness- Pe8rSupport Fundlng from Relhlnk mts1 illness Ltd lo d8liv8r community- based peer supwrt servtce for mental heatlh 8eMces. Rethlnk Mental Illnèss- Talng Therap5es Funding fr¢yn Rethink Menlal Illness Ltd lo d&lEver communlty- based peor support servlce for mental h8aiih servlces. CBS Debt ACadY Fundlng from Cov&ntry &Jllding Sodety to cover the costs of tralnlng new dèbt advisors. Integratlon Syrla and Afghan Grants lowards the dellvery of resettlem&nl servlces to Individuals and famili8s from Syrla and Afghanlslan. Includlng compliance wllh Home Olflce requir8manls. 18 Anaty8ls of net a888ts between funds Unrestrlcted Deslgnated Restrfcled fundg lunds lunds Tolal FIx8d assets Cash and current assets Uablliti&s and provlslor Total 6,484 381,178 (102,1661 285,496 6,484 255.537 787.152 {81.785) 1183.9511 173,752 609,685 150,437 150,437 19 Recon¢lllallon of nel Income lo nel ¢a8h flow from opemtlng aellvltle8 Net movemont for the ygar Depreclatlon Charg8 Interest recekwable Decrease l {Inmse) In debiors Decrease In creditors and prO810n$ 75,764 6,483 19.6321 257,848 {105.2991 (41,172) 12,2901 {97,482) (60.805) Nèt cash Ilow frLMn op8railng acllvlttes 225.164 {201.749} 20 Penslons and other po81.rellrem8nt bènollts Tho chadtablg company m8k8s contrIbutl$ to nod contrbutlon pTnal on plans lor Ihe empbyees whereby payments are m8d8 to an Insurance company Independent from thg Ilnances of the charfiab18 company. Contribthions are ¢harged to thè statement of financlal actlvities as and wh8n lrt¢Urr. The charge for th8 y8arwa8 £48,87012024: £67.1311. At 31 March 2024 £8,609 {2023: £9.2991 was dug to Ihe scheme. 25
Coventry Cllizens Advlce Notes to Ihe Flnanclal Statemenls For the Year Ended 31 March 2024 21 R8laled party transactlons There are no related paty tran8actior durlng tho period (2023: £nill. 26
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