Company registration number: 02697436 Charity registration number: 1010421
Plymouth Citizens Advice Bureaux
(A company limited by guarantee)
Annual Report and Financial Statements
for the Year Ended 31 March 2023
Plymouth Citizens Advice Bureaux
Contents
| Trustees' Report | 1 to 15 |
|---|---|
| Reference and Administrative Details | 1 |
| Statement of Trustees' Responsibilities | 16 |
| Independent Auditors' Report | 17 to 20 |
| Statement of Financial Activities | 21 |
| Statement of Financial Activities | 22 |
| Balance Sheet | 23 |
| Statement of Cash Flows | 24 |
| NotestotheFinancialStatements | 25to47 |
Plymouth Citizens Advice Bureaux
Trustees’ Report
Reference and Administrative Details
Chief Executive Officer Ms E Handley Trustees Mrs C Mitchell (Chair) Mr C E Mottram (Treasurer) Mrs P Ashworth Mr G Jones Mr P Matthews Mr D Watson Mr A Roddy Charity Registration Number 1010421 Company Registration Number 02697436
The Charity is incorporated in England and Wales.
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Plymouth Citizens Advice Bureaux
Trustees’ Report
Reference and Administrative Details
Principal Office 3rd Floor Cobourg House 32 Mayflower Street Plymouth Devon PL1 1QX Auditor PKF Francis Clark Melville Building East Unit 18, 23 Royal William Yard Plymouth Devon PL1 3GW Bankers Unity Trust Bank Plc Nine Brindley Place Birmingham B1 2HB
Auditor
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Plymouth Citizens Advice Bureaux
Trustees’ Report
The Trustees present their report and accounts for the year ended 31st March 2023.
The accounts have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the charitable company’s Memorandum and Articles of Association, the Companies Act 2006, the Charities Act 2011 and the Statement of Recommended Practice: 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 (FRS102) (effective 1 January 2019).
Plymouth Citizens Advice Bureaux is the name formally registered at Companies House. Operationally it is referred to as Citizens Advice Plymouth.
Aims, Objectives and Activities
Our vision is to be a positive and empowering organisation, working and supporting clients in local and regional communities, to make informed choices and better their lives.
Objects
The Charity’s objects are to promote, but without limitation, for the benefit of the community in Plymouth and its surrounding areas:
- the advancement of education,
« the protection and preservation of health and the relief of poverty, sickness and distress;
« the advancement of human rights, conflict resolution and equality and diversity;
- and the support of those disadvantaged by age, ill-health, disability or financial hardship
Activities
Citizens Advice Plymouth Vision
To be a positive and empowering organisation, that works in local and regional communities, supporting clients to make informed choices and better their lives.
We have a clear set of organisational aims. These allow us to provide the advice and support people need for the problems they face and work towards changing policies and practices that affect people’s lives.
Aims
The service aims:
-
To provide the advice people need for the problems they face
-
To improve the policies and practices that affect people's lives
Principles
Citizens Advice Plymouth provides free, independent, confidential and impartial advice to everyone on their rights and responsibilities.
Independence
We offer impartial advice to all clients and take up any issue with the appropriate authority on behalf of individuals or groups.
Impartiality
The service provided by Citizens Advice Plymouth is impartial. It is open to everybody, irrespective of ability, age, gender, gender identity, race, religion or belief, sexual orientation and social or economic status. Advice and help will be given on any subject without any preconceived attitude on the part of the organisation.
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Free
Citizens Advice Plymouth services are provided free to clients at the point of delivery. We are responsible for operating within the principles of the service and protecting the Citizens Advice brand.
Confidentiality
Citizens Advice Plymouth offers confidentiality to clients. Nothing learned from our clients, including the facts of their visits, will be passed on to anyone outside the service without their express permission. WHO WE ARE Our staff, volunteers and Trustees all operate within the values of Citizens Advice and the culture that everyone is part of creating. Our behaviour framework and Equality Diversity and Inclusion (EDI) strategy is fully integrated into everything we do. This reflects how we support clients and the communities they live in. It also reflects how we work with our funders and stakeholders.
WHO WE ARE
Our Values
Responsible: We're informed and honest Generous: We're compassionate and collaborative Inventive: We're problem-solving and forward-thinking
Equality Diversity and Inclusion
At Citizens Advice Plymouth we pride ourselves in upholding our aims, principles and values as expressed in our Strategic Plan. Equality, diversity and inclusion is written into our DNA; but we need to do more and as we aspire to go beyond our legal compliance under the Equality Act, we recognise that we will always be working hard, striving for excellence within our delivery plans. Through our EDI strategy, we will embed a culture of inclusion that incorporates all aspects of our activity and business.
Public Benefit
The Trustees confirm that they have complied with the duty of the Charities Act 2011 to have due regard to the Charity Commission for England and Wales’s general guidance on public benefit in exercising their power or duties. They have referred to this guidance when reviewing the Bureau’s aims and objectives and in planning its future activities.
Main Activities
Current Services
Citizens Advice Plymouth provides free advice and information to people in Plymouth. We also provide this service at both a regional and national level because of a number of contracts. Our clients come from a variety of backgrounds, age groups, ethnicities and demographics. We deliver our service according to the needs of the individual; we strive to understand who our clients are, where they come from, what issues they face and how we can best support them.
Advice Plymouth
The Advice Plymouth contract enables us to support people in the city of Plymouth with quality advice and information that is free, confidential, impartial and appropriate to everyone’s needs. The people who accessed Advice Plymouth came from diverse backgrounds and from almost every neighbourhood in the city. Of those who gave consent for us to record, most people identified themselves as white British / English. However, people from a broad range of ethnic backgrounds and nationalities sought advice from our service.
Core Services
To meet more demand across the city we have taken on the lease of the ground floor premises at Cobourg House and are starting to develop an open door service for our clients. This will enable us to refer into our own services, including the debt face to face (MAPs Mainstream contract).
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Money Advice and Pensions Service (MAPs)
The MAPs contract enables us to provide specialist money and debt advice for people struggling with their finances. People access the service through a dedicated telephone service with some face to face appointments being offered from Cobourg House.
Pension Wise
The Pension Wise service can be accessed by anyone over the age of 55. Most people who accessed the service in Plymouth and South Devon were between the ages of 55-65 and identified themselves as White British. 57% of people seen were men and 42% were women. 42% of clients stated they had a disability or a long-term health condition. Our Pension Wise team continues to promote the service as widely as possible in order that people are aware of the free and impartial information and guidance available from this service. Clients are then empowered to make informed decisions regarding their private or occupational pension when the time comes to draw on it.
Universal Credit: Help to Claim
The Help to Claim service can be accessed for anyone within the city of Plymouth who is looking to make a claim for Universal Credit. The project provides support over a 5-week period, from an eligibility check and making a claim right through until the first payment is received.
KKLF
The KKLF project (Kay Kendall Leukaemia Fund) supports clients with blood and related cancers. The project is regional, covering both Cornwall and Devon, providing a holistic casework service to clients in hospital or at home.
Since starting in 2008 the project has supported over 2000 Clients with over 14,000 issues and achieving over £8million worth of financial outcomes. Benefits continue to be the main enquiry area followed by Employment and Debt.
Utilities
Our partnership with OVO Energy, EDF Energy, Bulb Energy and Utility Warehouse to support people struggling to pay their energy bills remains one of our key priorities. Assisting people identified as having vulnerability issues in this way provides us with an opportunity to provide holistic advice. We do this by addressing not only their energy concerns but also by exploring and addressing other wider issues they may face.
We continue to monitor our client profiles on an annual basis, to ensure our comprehension of clients on an individual and collective basis.
Legal Advice Project
After securing funding, initially from the Legal Education Fund and AB Charitable trust we have developed a legal advice service at Citizens Advice Plymouth. Working with University House Legal Advice Centre, Bethnal Green and Charles Russell Speechley we provide family and employment law advice for clients via Skype. We intend to grow this service further for the benefit of clients by offering Pro Bono face to face advice using legally qualified volunteers and solicitors in the city.
Volunteers
We have seen a steady increase in our volunteer numbers this year. Over the year we have improved the support that we can offer to volunteers throughout the organisation and have renewed our Investing in Volunteers award.
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Trustees’ Report
Outcomes
Achievements and performance In 2022/2023 we achieved a good/excellent score on the Performance Quality Framework: This means we are well governed; have good/excellent strategic business planning; risk management (including having in place a full business continuity and recovery plan); financial management; people management; operation performance (which includes passport to the AQS standard); partnership working; research and campaigns and equality leadership.
The services we deliver are based around advice and information linked to welfare benefits, debt, employment, consumer issues, housing, finance, discrimination and broader financial problems. Clients access us through 4 key routes - by telephone, in person, or via webchat and email. We are known in the network as an organisation that leads and uses ICT creatively and innovatively to deliver services for our clients and other stakeholders.
Our frontline teams are supported by our Research and Campaigns team that uses evidence of client experiences to challenge key local and national policy and decision makers.
In 2022/23 43,738 clients contacted Citizens Advice Plymouth with 391,711 issues.
Achievements in 2022/2023
facet, Yt fist ie ©) 43,738 391,711 31,233 £51,878,582 £6,340,408 people Issues were were assisted Income gain for Of debt Was contacted raised by with all persons written off for Citizens Advice people addressing cost helped all persons Plymouth of living issues helped
AQr x4B® I & a7 5,220 150,776 13% £2,371,568 £639,929 people Plymothians Increase in Income gain for Debt written from Plymouth searched for advice Plymouth people living in off for people got help from on Citizens Advice clients helped Plymouth living in Citizens Advice webpages by the compared to Plymouth end of February 2022/2023
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Key stats summary
The following table shows the number of clients the organisation has dealt with, alongside the issues that they had and the number of activities that were completed in order to deal with their case. The outcomes show the gains that we made for our clients with the value of debt written off and repayments scheduled. The issues chart shows the number of enquiry issues we have been dealing with over the year, with debt being the highest enquiry area, followed by financial services and capability, utilities and communications and consumer goods and services.
| Key Statistics | Plymouth Citizens Advice Bureau (member) | Plymouth Citizens Advice Bureau (member) | ||
|---|---|---|---|---|
| Summary | Issues | |||
| ——— Clients |
et 43,738 |
Benefits & tax credits | 68,724 | 24.013 |
| Benefits Universal Credit | 26,406 | 7,013 | ||
| Quick client contacts | 4.278 : |
Charitable Support&Food Ban. | 19,766 | 11,595 |
| Consumergoods & services | 45,784 | 20,677 | ||
| issues | anta' | Debt Education |
100,947 1 661 |
24,762 1,14 |
| A Activities |
185,173 | Employment Financialservices& capability |
2,685 52,457 |
1,626 14,104 |
| GVA & Hate Crime | 301 | 189 | ||
| Cases | 64,623 | Health&communitycare | 1,984 | 1,198 |
| Housing | 5,537 | 2,658 | ||
| Incomegain | £51,878,582 | Legal sae |
1,294 331 |
834 270 |
| Re-imbursemenis, services, loans | £536,591 | Relationships & family | 3175 | 2,089 |
| Debts writtenoff Repavmenistescieduled |
£6,340,408 Set |
Tax Travel & transp ‘habia econ |
— 7! 57,732 |
i 17,000 |
| Other | £10,109,272 | GrandTotal | 391,711 |
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Trustees' ' Report
Profile Summary
The following charts show the profile of our clients: We deal with more clients aged between 35-39, more female than male and slightly more people who have a disability/health problem, albeit 42% of our clients do have a disability or long term health condition. 80% of our clients described themselves as white, 6% Asian and 10% Black
----- Start of picture text -----
Age
15-19 fj 106
20.24 I
1.270
25-29 TT
3,116
30-34a
720
35-30, 5220
05 4.526
45-49A
3 17
50-54a 3 54
55-59
60-64a ¢ 375
65-69I 3 645
2,564
70-74 a 1,025
75-79 782
80-84 fl 327
85-89 fj 187
90-94 | 48
95-99 | 8
100-104 | 7
----- End of picture text -----
----- Start of picture text -----
1% 2% 3% 4% 5% 6% 7% 8% 9% 10% 11% 12% 13% 14%
Gender Gender
—_
i Female Prefer different t.. i Female
i Male Male
Disability / Long-term health Disability / L
os
[§ Long-Term Health Condition I Not disabled/no health problems © Long-Term Healt
Bf Disabled i Disabled
Ethnicity Ethnicity
oF
BB white @ Black BB other BB White
© Asian BB Mixed BP Asian
----- End of picture text -----
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Plymouth Citizens Advice Bureaux
Trustees' Report
The following chart shows the range of channels that our clients access our services from with telephone being the highest.
Our top benefit issues are - general benefit entitlement, with fuel debts being the highest area debt enquiry issue.
----- Start of picture text -----
Channel Top benefit issues
28 General Benefit Entitlement Re 23.223
a 99 Other benefits issues es 17 384
01 Initial claim EE 3.969
21 Personal independence payment [x 7.717
23 Council tax reduction Hg 4.201
50,128 27% 03 Housing element HE) 3.986
02 Standard element HE 3.969
22 Localised social welfare HE 2.672
04 Limited capability for work eleme.. J 3,067
07 Housing Benefit He 1.924
OK 5K 10K 15K 20K 25K
Top debt issues
75,397 41% 04 Fuel debts ee ~°.114
09 Council tax arrears 115
IB Video Call 13 Credit, store & charge card debts [I 6,853
Other 16 Water supply & sewerage debts Hl 4.690
BB Letter 49 Debt Relief Order Hi 3.320
if 7 BB in person 36 UC advance payment/budgeting a.. Jj 2,756
Web chat 15 Catalogue & mail order debts 2724
46,276- 25% EmailAdviceline Phone 5214 BreathingUnsecured SpacepersonalMoratoriumloan debts 22742.027
|- | i Telephone 12 Bank & bullding society overdrafts [jj 1.682
OK 10K 20K 30K 40K 50K 60K
Financial review
Citizens Advice Plymouth has a good range of varying income streams and is not over reliant on any
one source. Its larger income sources are from EDF Energy Bulb Energy and Utilities Warehouse
which are private sector funded activity for debt and energy advice, with Help to Claim being a
Citizens Advice commissioned contract via the DWP that supports people claiming Universal Credit
across Devon and Cornwall. Plymouth City Council is our local, publicly funded contract, which is
delivered in a local partnership with Improving Lives Plymouth. All our contracts deliver within the
aims and objectives of the organisation. Citizens Advice Plymouth is recognised as one the largest
CA organisations in the UK and the largest in the South West area of the UK, which allows us the
creditability, through significant shilled resources and experience to bid for both cross County and
National contracts. This critical mass and continued growth of the Plymouth organisation enables us
to invest in enhanced client activities for local Plymouth clients. In this financial year we have invested
in the creation of a street level Advice Centre within Cobourg House. Opened in January 2023 we
have also created a designated fund to support the expansion and ensure sustainability of this
enhanced client access facility.
----- End of picture text -----
In the year our income increased to £5,133,887 being £4,654,449 last year, with corresponding expenditure increasing in the year to £4,981 ,445 this year compared with £4,617,220 last year.
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Reserves Policy
As part of the organisation's approach to financial and risk management, the Board regularly monitors the financial position of the charity, its performance against budget and the level of free and liquid unrestricted reserves held.
In calculating a correct level of free reserves required by the charity, the Trustees consider the risks to which the organisation is exposed with a focus on the contracts and grants it manages. The charity is also very focused on maximising the use of the financial resources for the charitable objectives, whilst providing a prudent level of resilience for unforeseen circumstances, which could threaten the sustainability of service we provide to the public.
Whilst several of our funds and grants are paid in advance, we are acutely aware that our National contracts with Energy companies, which represent a major part of our income, are paid in arrears with long post delivery payment terms, where cash flow and liquidity are key to being able to undertake and attract these type of key projects.
As part of the review this year we are very cognisant of the effects upon our client base of on-going effects of Covid, the cost of living crisis and energy costs, where we are experiencing ever increasing demand for our services. To maximise access for clients we have extra technology and supervisory costs, incurred through our staff and volunteers working from home, plus we are extending staff resources in 2023. Both extra-ordinary costs are provided for by the creation of designated funds to underpin and extend our normal level of expenditure.
In addition, for extended client access, we committed to the opening of a new street level advice centre to extend our drop in capacity for the residents of Plymouth, which adjoins our main offices in the central retail zone. To support the cost of the advice centre creation and extra resources expansion to support the opening during 2023 we have created a designated fund to support the costs in the period 2023-25.
Following the Trustees' recent review, the Board updated its reserves policy and considers it appropriate that the charity holds a level of free reserves, which includes an operating contingency, which is based on three months’ central costs, plus core advice expenses that have been budgeted in the year; a staff transition fund to cover transitional arrangements for staff waiting for contract renewals and a general redundancy provision. In addition if a major contract were not renewed, a major projects designated redundancy fund has been created based upon the largest energy project we have contracted for.
As we look forward, with the flexible work model presently in place and to support extended technology enhancements around VoIP soft phone, video waiting room software, supervisory video chat rooms for remote staff and volunteers, plus other innovations for client access we have designated funds for “Innovation and Technology“. We have reviewed the recent Government change of rules/ recommendations on the LGPS (Local Government Pension Scheme) and the liability the charity has for this historic /closed pension scheme for the future, under the DDA (Deferred Debt Agreement) basis. We believe it prudent to establish a designated reserve to reduce the annual cost of the DDA, when the charity enters into this agreement and will review this at the end of each fiscal year. This reserve was used to pay off of the some deficit in 2022 and we will continue an extra payment schedule in 2023. With regards to the pension deficit, Plymouth City Council act as a guarantor (of last resort) to the charity in relation to the liability associated with the scheme, in the event that the charity became insolvent or couldn’t meet the pension repayment liabilities in the future, if and when a cessation of the Plymouth Citizens Advice scheme is triggered.
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For 2022/23 these amounts are:
| UNRESTRICTED FREE CASH RESERVES | POLICY | POLICY | |
|---|---|---|---|
| Operating expenses contingency, calculated as 3 | |||
| months central costs plus Advice |
Plymouth | £314,000 | |
| services including extended resources | support. | ||
| Staff transition fund calculated as the |
rate of | ||
| keeping key staff in place ifthere are any | gaps in | £45,000 | |
| contracts. | |||
| Redundancy provision, calculated |
on | ||
| redundancy costs for the organisation | as at | £105,000 | |
| 31/03/2021 and adjusted in 2023/24. | |||
| Total Unrestricted reserves policy | £464,000 | ||
| DESIGNATED FUNDS | |||
| Post Covid Support and Recovery Fund | £30,000 | ||
| Innovation and IT Fund | £90,000 | ||
| Pension liability relieffund | £30,000 | ||
| Major project redundancy fund | £36,000 | ||
| New street level advice centre | £180,000 | ||
| TotalUnrestrictedplusDesignated | £830,000 |
For the 2023/24 budgets, this would require a free reserves level of £830,000 as at 31 March 2023. At the 31st March 2023, the level of free reserves held, (excluding fixed assets, and including designated reserves) was £901,110 and is accordingly in line with the policy adopted by the Trustees.
In addition to the Unrestricted and designated reserves schedule allocation above, the Trustees, as part of the 2024-25 Strategic Plan are looking at reconsidering the premises strategy to fulfil the long-term requirements and business aims of the charity. With the homeworking/ flexible hours strategy and the launch of the newly created street level Advice Centre the pressure on premises space requirements has been contained during the sustained growth of the organisation. At the point of knowing more precise costs the trustees will, after agreement to the relocation, designate such funds over and above the reserves policy outlined herein.
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Restricted reserves
The use of the following funds has been restricted by the donor or funder and can only be used for the purposes of those donors and funders. Any balance remaining on a restricted fund at the financial year end does not imply that the activity to which the fund relates has cost less to run than the amount provided by funder or donors but may result from a variety of circumstances including the timing of the activity being out of phase with the organisation’s financial year end.
-
Money Advice Service,
-
MAPs Webchat
« MAPs Debt Hub
« EDF Energy
¢« EDF Energy Hub
-
Hub Office Move
-
Kay Kendall Leukaemia Fund
-
PGG Pension Wise
-
Loan Shark
« Universal Support Best Practice Lead
- Help to Claim
Investment Policy
Trustees maintain all funds in the Unity Trust Bank account and it is not currently the policy of the Board that funds should be invested. To ensure access to funds at all time for the operation of the business, in case of a banking systems failure, Trustees have set up a second bank account with CAF Bank.
Trustees are mindful that where we have major funders paying in arrears we require a substantial positive cash flow as debtors can at times reach circa £750.000.
Fundraising Policy
The Charity did not participate in any fundraising activity in the year, which is normal to other years and has no impact on our income sources.
Principle Risks and Uncertainties
The Board of Trustees understand its responsibility for the development and implementation of a system of internal control and reviewing its effectiveness. Key elements of the organisation’s system of internal controls are:
- A risk assessment process which regularly reviews risks across the organisation’s activities by area, such as financial, operational and governance and identified the work to be done and the controls required to minimise highest risks. « Experienced and suitably qualified staff and volunteers who take responsibility for important organisational functions.
¢ Written financial procedures and levels of authority for approval of transactions.
¢ Financial reporting against board approved annual budgets.
The Board have identified the main areas of risk for the organisation as being around recruitment, training and induction of key personnel in order to ensure key targets are met. Plymouth City Council acts as a guarantor to the charity in relation to the liability associated with the Pension Scheme deficit. Information Assurance risks are mitigated by robust polices and reviews, with training provided to all staff and volunteers.
A full risk register is monitored each quarter and updated each year with key risks and mitigating factors.
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Going concern
We have a good pipeline of work over the coming year and continue to develop our plans with energy companies. We have a robust strategy and a dedicated resource to growing this side of our business over the next few years.
We work with financially stable energy companies and review the financial position of new providers. We have cemented ourselves as being leaders in the work that we can offer energy providers and with the cost of living crisis and increases in energy costs we anticipate being needed more than ever as companies are seeing an increase in the number of vulnerable customers they are dealing with.
Our risks are further mitigated with the announcement by OFGEM that The Warm Home Discount Scheme, which is where our work is derived, will continue for at least another 5 years.
We have invested in a Business Development Director role which will drive the continuation of a mix of funding over the next 3-5 years and replacement funding where we see risks.
The impact of the pandemic and the cost of living crisis is creating opportunities for us, with issues arising from employment, debt and housing. The Trustees have reviewed the strategies delivery plans and funding pipelines contained in the business plan over the next 2 years in line with the Advice Quality Scheme. We are looking to increase the number of funders, rather than to increase the funding from one provider. If we lost funding, we scale back the expenditure accordingly. Based on the factors outlined above, the Trustees are confident that the charity is a going concern.
Plans for future periods
Our plans for the next couple of years are to identify a more diverse range of funding streams, based on our strengths in providing contract services to energy providers’ vulnerable clients. We wish to further embed our vision and raise the profile of putting the client at the heart of all we do, ensuring that all contracts meet our objectives and provide sustainability for the organisation. A 2 year business plan has been produced with clear milestones in place to achieve our ambition and objectives.
Our partnerships continue to grow and we are fully integrated into relevant strategic and operational networks and partnerships across the city of Plymouth. We have a diverse range of positive and beneficial stakeholder relationships across the private, public and voluntary sectors. We are seen to be active in regional and national Citizen Advice networks, where we impart, share and accrue learning with our peers.
We are developing plans for a more agile service to reach out to people in the city alongside an advice centre which will be located in the heart of the city centre, from which we can raise our profile within the city, but also provide better access for clients, increase our volunteer numbers and to provide unrestricted income that is not linked to a funder.
Funds held as custodian trustee on behalf of others
Citizens Advice Plymouth holds the sum of £260,247 (2022 - £37,610) as custodian for the Household support fund and Charis Grants. This project links to our objects of relief of poverty, sickness and distress.
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Structure, governance and management
The Trustees, who are also the directors for the purposes of company law, and who served during the year were:
Caroline Mitchell, Chair Chris Mottram, Treasurer Tom Cox, Vice Chair, (resigned 7th November 2022) Paula Ashworth Gavin Jones Paul Matthews, (appointed 7th November 2022) David Watson, (appointed 7th November 2022) Arran Roddy, (appointed 7th November 2022) Nina Sarlaka, (resigned 7th November 2022)
Key Management Personnel
Emma Handley, CEO Emma Symonds, Director of Operations Gary Neeves, Director of Local Partnerships Michelle Coppola-Cookson, Director of HR Jon Abrahams, Director of Business Support Andy Gunter-Smith, Director of Development (appointed 24th October 2022)
Constitution
Citizens Advice Plymouth is both a registered charity and a charitable company limited by guarantee and is governed by a Memorandum and Articles of Association. All the Trustees are company members. In the event of the company being wound up members are required to contribute an amount not exceeding £1 per member.
Recruitment and appointment of Trustees
Elected Trustees are appointed by the members at an Annual General Meeting and serve a three year term of office after which they must stand down but are eligible for re-election. Trustees are also nominated by member organisations, or co-opted by the board itself to address any identified gaps in skills.
All Trustees receive an induction which involves spending time in the organisation to see the work at first hand. Trustees are also given an induction pack, which includes finding information from the national Citizens Advice website and an internal management website. Trustees have the opportunity to attend regional and local conference and attend the national annual conference.
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Organisational structure and decision making
The Board of Trustees is responsible for the overall management and strategic direction of the organisation.
The full Board of Trustees meet once a quarter with sub-groups meeting bi-monthly. The sub-groups are finance and audit, strategy and new business, campaigns and research and HR.
Day to day management is delegated to the CEO who works with the senior management team to deliver the business plan for the organisation. Ali staff have written job descriptions and personal development plans. Both volunteers and staff receive regular supervision and support, with all staff having annual appraisals.
The HR sub-group make a recommendation to the Trustee Board for setting pay and remuneration of the key management personnel.
Citizens Advice Plymouth is a member of Citizens Advice. The membership agreements set out the relationship between a member of the Citizens Advice service and Citizens Advice including our respective roles and responsibilities - some of which are shared (e.g. protecting, promoting and developing the Citizens Advice brand). The agreement aims to define what it means to be part of the service in terms of obligations to each other and to other parts of the network, It also sets out the high-tevel standards for membership (including service delivery) and some very specific requirements and includes details of what happens if the agreement is breached by either a member or Citizens Advice.
The quality assurance standards sit ‘underneath’ the Agreement. These set out the detailed standards which all bureaux that are members of the Citizens Advice service must meet. Audit Services check compliance with the quality assurance standards and the Membership Agreement at the regular membership audit.
The Advice Quality Standard will be re-validated on 15th June 2023 when our current award is reviewed.
Disclosure of information to auditor
Each member has taken steps that they ought to have taken as a member in order to make themselves aware of any relevant audit information and to establish that the Charity's auditor is aware of that information. The Trustees confirm that there is no relevant information that they know of and of which they know the auditor is unaware.
Small companies provision statement
This report has been prepared in accordance with the small companies regime under the Companies Act 2006.
The annual report was approved by the Trustees of the Charity on Rls. / 22 and signed on its behalf by:
Trustee
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Plymouth Citizens Advice Bureaux
Statement of Trustees’ Responsibilities
The Trustees (who are also the directors of Plymouth Citizens Advice Bureaux for the purposes of company law} are responsible for preparing the Trustees’ Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland”.
Company law requires the Trustees to prepare financial statements for each financial year. Under company law the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including its income and expenditure, of the charitable company for that period. In preparing these financial statements, the Trustees are required to:
-
select suitable accounting policies and apply them consistently;
-
« observe the methods and principles in the Charities SORP;
-
make judgements and estimates that are reasonable and prudent;
-
state whether applicable accounting standards, comprising FRS 102 have been followed, subject to any material departures disclosed and explained in the financial statements, and
-
prepare the financial statements on the going concern basis unless it is inappropriate to presume thai the charitable company will continue in business.
The Trustees are responsible for keeping proper accounting records that can disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safequarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The Trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company’s website. Legislation governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
Statements as to disclosure to our auditors
In so far as the Trustees are aware at the time of approving our Trustees’ annual report: * there is no relevant information, being information needed by the auditor in connection with preparing their report, of which the company's auditor is unaware, and
- the Trustees, having made enquiries of fellow trustees and the company's auditor that they ought to have individually taken, have each taken all steps that he / she is obliged to take as a Director in order to make themselves aware of any relevant audit information and to establish that the auditor is aware of that information.
Approved by the Trustees of the Charity on 21/2 f. 2 Zand signed on its behalf by:
Mrs C Mitchell (Chair) Trustee
Page 16
Plymouth Citizens Advice Bureaux
Independent Auditor's Report to the Members of Plymouth Citizens Advice Bureaux
Opinion
We have audited the financial statements of Plymouth Citizens Advice Bureaux (the 'Charity') for the year ended 31 March 2023, which comprise the Statement of Financial Activities, Balance Sheet, Statement of Cash Flows, and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is United Kingdom Accounting Standards, comprising Charities SORP - FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland’ and applicable law (United Kingdom Generally Accepted Accounting Practice effective January 2019).
In our opinion the financial statements:
-
give a true and fair view of the state of the Charity's affairs as at 31 March 2023 and of its incoming resources and application of resources, including its income and expenditure, for the year then ended;
-
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-
have been prepared in accordance with the requirements of the Companies Act 2006.
Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the auditor responsibilities for the audit of the financial statements section of our report. We are independent of the Charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Conclusions relating to going concern
In auditing the financial statements, we have concluded that the Trustees use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Charity's ability to continue as a going concern for a period of at least twelve months from when the original financial statements were authorised for issue.
Our responsibilities and the responsibilities of the Trustees with respect to going concern are described in the relevant sections of this report.
Page 17
Plymouth Citizens Advice Bureaux
Independent Auditor's Report to the Members of Plymouth Citizens Advice Bureaux
Other information
The Trustees are responsible for the other information. The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.
In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.
Opinion on other matter prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
-
« the information given in the Trustees' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
-
« the Trustees' Report has been prepared in accordance with applicable legal requirements.
Matters on which we are required to report by exception
In the light of our knowledge and understanding of the Charity and its environment obtained in the course of the audit, we have not identified material misstatements in the Trustees’ Report.
We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
-
adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
-
the financial statements are not in agreement with the accounting records and returns; or
-
certain disclosures of Trustees remuneration specified by law are not made; or
-
we have not received all the information and explanations we require for our audit.
Auditor responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
Page 18
Plymouth Citizens Advice Bureaux
Independent Auditor's Report to the Members of Plymouth Citizens Advice Bureaux
We considered those laws and regulations that have a direct impact on the preparation of the financial statements, including, but not limited to FRS 102 (effective 1 January 2019) - (Charities SORP), the Companies Act 2006 and the Charities Act 2011. In addition, we considered provisions of other laws and regulations that do not have a direct effect on the financial statements but compliance with which may be fundamental to the charity’s ability to operate or to avoid a material penalty.
We evaluated management’s incentives and opportunities for fraudulent manipulation of the financial statements (including the risk of override of controls) and determined that the principal risks related to fraudulent financial reporting, in particular to grant funding received.
Audit procedures performed by the engagement team include, but were not limited to, discussions and inquiries with management of compliance with laws and regulations, reviewing grant funding agreements, and reviewing board minutes and significant legal costs incurred in the year. We also addressed the risk of management override of internal controls, including testing of journals and evaluating whether there was evidence of bias by the Trustees that represented a risk of material misstatement due to fraud.
There are inherent limitations in the audit procedures described above and the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we would become aware of it. Also, the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberrate concealment by, for example, forgery or intentional misrepresentations, or through collusion.
Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements. This risk increases the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements as we are less likely to become aware of instances of non-compliance. The risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment, collusion, omission or misrepresentation. A further description of our responsibilities is available on the Financial Reporting Council's website at: www. frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.
Use of our report
This report is made solely to the charitable company's Trustees, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the Charity's Trustees those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and its Trustees as a body, for our audit work, for this report, or for the opinions we have formed.
Responsibilities of Trustees
As explained more fully in the Statement of Trustees' Responsibilities (set out on page 16), the Trustees are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the Trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
Page 19
Plymouth Citizens Advice Bureaux
Independent Auditor's Report to the Members of Plymouth Citizens Advice Bureaux
In preparing the financial statements, the Trustees are responsible for assessing the Charity's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Trustees either intend to liquidate the Charity or to cease operations, or have no realistic alternative but to do so.
Duncan Leslie (Senior Statutory Auditor) PKF Francis Clark, Statutory Auditor
Melville Building East Unit 18, 23 Royal William Yard Plymouth Devon PL1 3GW
Date: 13/09/2023
Page 20
Plymouth Citizens Advice Bureaux
Statement of Financial Activities
Year Ended 31 March 2023
(Including Income and Expenditure Account and Statement of Total Recognised Gains and Losses)
| Defined | |||||
|---|---|---|---|---|---|
| Benefit | |||||
| Unrestricted | Restricted | Pension | Total | ||
| funds | funds | Scheme | 2023 | ||
| Note | £ | £ | £ | £ | |
| Income and Endowments | from: | ||||
| Charitable activities | 3 | 2,988,490 | 2,154,251 | - | 5,142,741 |
| Other income | 4 | 40,735 | - | - | 40,735 |
| Investment income | 5 | 411 | - | - | 411 |
| Total Income | 3,029,636 | 2,154,251 | - | 5,183,887 | |
| Expenditure on: | |||||
| Charitable activities | 6 | (2,828,101) | (2,159,344) | 6,000 | (4,981,445) |
| Total Expenditure | (2,828,101) | (2,159,344) | 6,000 | (4,981,445) | |
| Net income/(expenditure) | 201,535 | (5,093) | 6,000 | 202,442 | |
| Other recognised gains | |||||
| and losses | |||||
| Actuarial gains/(losses) on | |||||
| defined benefit pension | |||||
| schemes | - | - | 434,000 | 434,000 | |
| Net movement in funds | 201,535 | (5,093) | 440,000 | 636,442 | |
| Reconciliation of funds | |||||
| Total funds brought forward | 891,027 | 40,861 | (507,000) | 424,888 | |
| Totalfundscarriedforward | 18 | 1,092,562 | 35,768 | (67,000) | 1,061,330 |
The notes on pages 25 to 47 form an integral part of these financial statements. Page 21
Plymouth Citizens Advice Bureaux
Statement of Financial Activities
Year Ended 31 March 2022
(Including Income and Expenditure Account and Statement of Total Recognised Gains and Losses)
| Defined | |||||
|---|---|---|---|---|---|
| Benefit | |||||
| Unrestricted | Restricted | Pension | Total | ||
| funds | funds | Scheme | 2022 | ||
| Note | £ | £ | £ | £ | |
| Income and Endowments | from: | ||||
| Charitable activities | 3 | 2,836,681 | 1,779,786 | - | 4,616,467 |
| Other trading activities | 4 | 37,982 | - | - | 37,982 |
| Total Income | 2,874,663 | 1,779,786 | - | 4,654,449 | |
| Expenditure on: | |||||
| Charitable activities | 6 | (2,841,743) | (1,775,477) | - | (4,617,220) |
| Total Expenditure | (2,841,743) | (1,775,477) | - | (4,617,220) | |
| Net income | 32,920 | 4,309 | - | 37,229 | |
| Transfers between funds | (153) | 153 | = | = | |
| Other recognised gains | |||||
| and losses | |||||
| Actuarial gains on defined | |||||
| benefit pension schemes | - | - | 86,000 | 86,000 | |
| Net movement in funds | 32,767 | 4,462 | 86,000 | 123,229 | |
| Reconciliation of funds | |||||
| Total funds brought forward | 858,260 | 36,399 | (593,000) | 301,659 | |
| Totalfundscarriedforward | 18 | 891,027 | 40,861 | (507,000) | 424,888 |
All of the Charity's activities derive from continuing operations during the above two periods. The funds breakdown for each year is shown in note 18.
The notes on pages 25 to 47 form an integral part of these financial statements. Page 22
Plymouth Citizens Advice Bureaux
(Registration number: 02697436) Balance Sheet as at 31 March 2023
| 2023 | 2022 | ||
|---|---|---|---|
| Note | £ | £ | |
| Fixed assets | |||
| Tangible assets | 12 | 119,359 | - |
| Current assets | |||
| Debtors | 13 | 512,075 | 776,551 |
| Cash at bank and in hand | 14 | 1,329,848 | 1,198,793 |
| 1,841,923 | 1,975,344 | ||
| Creditors: Amounts falling due within oneyear | 15 | (832,952) | (1,043,456) |
| Net current assets | 1,008,971 | 931,888 | |
| Netassets exctuding pension liability | 1,128,330 | 931,888 | |
| Pension scheme liability | 16 | (67,000) | (507,000) |
| Net assets including pension biability | 1,061,330 | 424 888 | |
| Funds ofthe Charity: | |||
| Restricted | 35,768 | 40,861 | |
| Unrestricted income funds | |||
| Unrestricted | 1,092,562 | 891,027 | |
| Pension reserve | (87,000) | (507,000) | |
| Totalfunds | 18 | 1,061,330 | 424,888 |
The financial statements on pages 21 to 47 were approved by the Trustees, and authorised for issue on RS f 22. and signed on their behalf by:
Mrs C Mitchell (Chair} Trustee
These accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act relating to small companies and constitute the annual accounts required by the Companies Act 2006 and are for circulation to members of the company.
The notes on pages 25 to 47 form an integral part of these financial statements. Page 23
Plymouth Citizens Advice Bureaux
Statement of Cash Flows for the Year Ended 31 March 2023
| 2023 | 2022 | ||
|---|---|---|---|
| Note | £ | £ | |
| Cash flows from operating activities | |||
| Net income | 202,442 | 37,229 | |
| Adjustments to cash flows from non-cash items | |||
| Depreciation | 12 | 24,913 | 4,137 |
| Investment income | 5 | (411) | - |
| Defined benefit pension scheme adjustments | 434,000 | 86,000 | |
| Impairment of fixed assets | - | 5,361 | |
| 660,944 | 132,727 | ||
| Working capital adjustments | |||
| Decrease/(increase) in debtors | 13 | 264,476 | (406,742) |
| (Decrease)/increase in creditors | 15 | (289,473) | 37,855 |
| (Decrease)/increase in deferred income | (361,031) | 324,163 | |
| Net cash flows from operating activities | 274,916 | 88,003 | |
| Cash flows from investing activities | |||
| Interest receivable and similar income | 5 | 411 | - |
| Purchase of tangible fixed assets | 12 | (144,272) | - |
| Net cash flows from investing activities | (143,861) | - | |
| Net increase in cash and cash equivalents | 131,055 | 88,003 | |
| Cash and cash equivalents at 1 April | 1,198,793 | 1,110,790 | |
| Cashandcashequivalentsat31March | 1,329,848 | 1,198,793 |
All of the cash flows are derived from continuing operations during the above two periods.
The notes on pages 25 to 47 form an integral part of these financial statements. Page 24
Plymouth Citizens Advice Bureaux
Notes to the Financial Statements for the Year Ended 31 March 2023
1 Charity status
The Charity is a company limited by guarantee and consequently does not have share capital. Each of the Trustees is liable to contribute an amount not exceeding £1 towards the assets of the Charity in the event of liquidation.
The principal place of business is: 3rd Floor
Cobourg House 32 Mayflower Street Plymouth Devon PL1 1QX
2 Accounting policies
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
The financial statements have been prepared in accordance with 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) - (Charities SORP (FRS 102)). They also comply with the Companies Act 2006 and Charities Act 2011.
Basis of preparation
Plymouth Citizens Advice Bureaux meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notes.
Page 25
Plymouth Citizens Advice Bureaux
Notes to the Financial Statements for the Year Ended 31 March 2023
Income and endowments
Income is recognised when the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably. The following specific policies are applied to particular categories of income set out below.
Grants, where entitlement is not conditional on the delivery of a specific performance by the charity, are recognised when the charity becomes unconditionally entitled to the grant.
Investment income is included when receivable.
Income from grants, where related to performance and specific deliverables, are accounted for as the charity earns the right to consideration by its performance.
Plymouth Citizens Advice Bureaux acts as the lead partner in various partnership projects and holds funds as custodian or agent for several partnership agencies. The income and expenditure associated with these transactions are excluded from the financial statements of the charity and any cash held is represented by a corresponding creditor.
Deferred income
Deferred income represents amounts received for future periods and is released to incoming resources in the period for which it has been received. Such income is only deferred when:
-The donor specifies that the grant or donation must only be used in future accounting periods; or -The donor has imposed conditions which must be met before the Charity has unconditional entitlement.
Going concern
We have a good pipeline of work over the coming year and continue to develop our plans with energy companies. We have a robust strategy and a dedicated resource to growing this side of our business over the next few years.
We work with financially stable energy companies and review the financial position of new providers. We have cemented ourselves as being leaders in the work that we can offer energy providers and with the cost of living crisis and increases in energy costs we anticipate being needed more than ever as companies are seeing an increase in the number of vulnerable customers they are dealing with. Based on the factors outlined above, the Trustees are confident that the charity is a going concern.
Our risks are further mitigated with the announcement by OFGEM that The Warm Home Discount Scheme, which is where our work is derived, will continue for at least another 5 years.
We have invested in a Business Development Director role which will drive the continuation of a mix of funding over the next 3-5 years and replacement funding where we see risks.
The impact of the pandemic and the cost of living crisis is creating opportunities for us, with issues arising from employment, debt and housing. The Trustees have reviewed the strategies delivery plans and funding pipelines contained in the business plan over the next 2 years in line with the Advice Quality Scheme. We are looking to increase the number of funders, rather than to increase the funding from one provider. If we lost funding, we would scale back the expenditure accordingly.
Page 26
Plymouth Citizens Advice Bureaux
Notes to the Financial Statements for the Year Ended 31 March 2023
Expenditure
All expenditure is accounted for on an accruals basis asa liability is incurred. Expenditure includes any VAT which cannot be fully recovered and is reported as part of the expenditure to which it relates. Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.
Support costs
Support costs are those functions that assist the work of the charity but do not directly undertake charitable activities. Governance costs comprise all costs involving the public accountability of the charity and its compliance with regulation and good practice. These costs include costs related to statutory examination and legal fees. These costs are included within charitable activities where relevant.
All costs are allocated between the expenditure categories of the SOFA on a basis designed to reflect the use of the resource. This has been done by allocating the costs based on the number of Full Time Equivalent staff working on each project.
Governance costs
These include the costs attributable to the Charity’s compliance with constitutional and statutory requirements, including audit, strategic management and Trustees' meetings and reimbursed expenses.
Irrecoverable VAT
Irrecoverable VAT is charged against the category of resources expended for which it was incurred.
Taxation
The Charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the Charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.
Tangible fixed assets
Individual fixed assets costing £750 or more are initially recorded at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Impairment reviews are carried out on a periodic basis. If an asset is found to have a carrying value materially higher than its recoverable amount it is written down accordingly.
Page 27
Plymouth Citizens Advice Bureaux
Notes to the Financial Statements for the Year Ended 31 March 2023
Depreciation and amortisation
Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:
Asset class Depreciation method and rate Furniture and equipment 20% straight line Computer equipment 33.33% straight line Leasehold ,improvements Overf the . remaining life of the lease - straight line
Fund structure
Unrestricted funds represent grants and other income received or generated for expenditure incurred in the general running of the charity.
Restricted funds are to be used towards specific projects stated by the guarantor. Expenditure for those purposes is charged to the fund.
Designated funds are funds set aside by the trustee's for future spending on projects they have designated the funds for.
Hire purchase and finance leases
Rentals payable under operating leases are charged against income on a straight line basis over the term of the lease.
Page 28
Plymouth Citizens Advice Bureaux
Notes to the Financial Statements for the Year Ended 31 March 2023
Pensions and other post retirement obligations
The charity participates in two pension schemes. The charity operates a defined contribution scheme. The assets of the defined contribution pension scheme are held separately from those of the charity in an independently administered fund.
One employee is an active contributing memeber of the Local Government Pension Scheme (LGPS) with 7 deferred pensioners and 9 pensioners as members of the scheme. All other employees, with the exception of those who have opted out, are members of the workplace pension scheme.
The LGPS is a defined benefit statutory scheme administered in accordance with the Local Government Pension Scheme Regulations 2013, is contracted out of the State Second Pension and benefits accrued up to 31 March 2023 are based on career average revalued salary and length of service. In accordance with SORP 2019 Plymouth Citizens Advice Bureaux’s share of the pension deficit for this scheme is shown on the balance sheet.
The LGPS is a funded scheme and the assets are held separately from those in the charity in separate trustee administered funds.
Pension scheme assets measured at fair value and liabilities are measured on an actuarial basis using the projected unit credit method and discounted at a rate equivalent to the current rate of return on a high quality corporate bond of equivalent term and currency to the liabilities. The actuarial valuations are obtained at least triennially and are updated at each balance sheet date. The amounts charged to operating surplus are the current service costs and the costs of the scheme introductions, benefit changes, settlements and curtailments. They are included as part of the staff costs incurred. Net interest on the net defined benefit liability / asset is also recognised in the Statement of Financial Activities and comprises the interest cost on the defined benefit obligation and the interest income on the scheme assets, calculated by multiplying the fair value of the scheme assets at the beginning of the period by the rate used to discount the benefit obligations. The difference between the interest income on the scheme assets and the actual return on the scheme assets is recognised in other recognised gains and losses.
Actuarial gains and losses are recognised immediately in other recognised gains and losses.
In general, participating in a defined benefit pension scheme means the employer is exposed to a number of risks. However, this is mitigated by the Memorandum of Understanding with Plymouth City Council.
Page 29
Plymouth Citizens Advice Bureaux
Notes to the Financial Statements for the Year Ended 31 March 2023
Financial instruments
Classification
The charitable company only has the financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value, except for those financial assets classified as at fair value through profit or loss, which are initially measured at the transaction value and then subsequently measured at their fair value. The Charity holds the following basic financial instruments:
-
Short term trade and other debtors and creditors; and
-
Cash and bank balances.
All financial instruments are classified as basic.
Recognition and measurement
The company has chosen to apply the recognition and measurement principles in FRS102.
Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument and derecognised when in the case of assets, the contractual rights to cash flows from the assets expire or substantially all the risks and rewards of ownership are transferred to another party, or in the case of liabilities, when the company’s obligations are discharged, expire or are cancelled.
Such instruments are initially measured at transaction price, including transaction costs, and are subsequently carried at the undiscounted amount of the cash or other consideration expected to be paid or received, after taking account of impairment adjustments.
Legal status of the Charity
The charity is a company limited by guarantee. In the event of the charity being wound up, the liability in respect of the guarantee is limited to £1 per member of the company.
The charity is incorporated in England and Wales and the registered office is: 3rd Floor, Cobourg House, 32 Mayflower Street, Plymouth, Devon, PL1 1QX.
Page 30
Plymouth Citizens Advice Bureaux
Notes to the Financial Statements for the Year Ended 31 March 2023
3 Income from charitable activities
| Unrestricted | ||||
|---|---|---|---|---|
| funds | Restricted | Total | Total | |
| General | funds | 2023 | 2022 | |
| £ | £ | £ | £ | |
| Plymouth City Council Advice | ||||
| Plymouth | 639,554 | - | 639,554 | 640,060 |
| ATJF | - | - | - | 29,034 |
| Victim Care | 10,000 | - | 10,000 | 10,000 |
| Electricty - NW | 22,500 | - | 22,500 | 29,200 |
| Money Advice service - Trainee | - | - | - | 31,812 |
| Energy redress | 45,544 | - | 45,544 | 49,778 |
| OVO Energy | 349,615 | - | 349,615 | 509,536 |
| MaPs - Mainstream | - | 228,189 | 228,189 | 155,333 |
| EDF Energy | - | 1,021,572 | 1,021,572 | 999,773 |
| Kay Kendall Leukaemia Fund | - | 76,904 | 76,904 | 72,568 |
| PGG Pension Wise | - | 414,334 | 414,334 | 372,434 |
| IDMAP | - | 32,444 | 32,444 | 49,136 |
| Core | 49,857 | - | 49,857 | 8,145 |
| Bulb | 776,056 | - | 776,056 | 862,999 |
| JFF | 34,026 | - | 34,026 | 33,858 |
| Legal advice | 35,469 | - | 35,469 | 45,363 |
| Help to Claim | - | 314,373 | 314,373 | 62,629 |
| USBPL | - | 4,486 | 4,486 | 36,101 |
| E-On | - | - | - | 14,180 |
| Utility warehouse | 872,100 | - | 872,100 | 562,968 |
| Training and consultancy | - | - | - | 6,634 |
| AP - Foodbank | 41,764 | - | 41,764 | 34,926 |
| AP - Community resiliance | 24,802 | - | 24,802 | - |
| AP - Housing support fund | 77,500 | - | 77,500 | - |
| Macmillan Project | 4,006 | - | 4,006 | - |
| PLUSS | 4,232 | - | 4,232 | - |
| Trussell Trust | 1,465 | - | 1,465 | - |
| MaPs - Debt hub | - | 61,949 | 61,949 | - |
| 2,988,490 | 2,154,251 | 5,142,741 | 4,616,467 |
Page 31
Plymouth Citizens Advice Bureaux
Notes to the Financial Statements for the Year Ended 31 March 2023
4 Other income
| Unrestricted | |||
|---|---|---|---|
| funds | Total | ||
| General | funds | ||
| £ | £ | ||
| Other | income | 40,735 | 40,735 |
| Total | for 2023 | 40,735 | 40,735 |
| Total | for2022 | 37,982 | 37,982 |
5 Investment income
| Unrestricted | ||
|---|---|---|
| funds | Total | |
| General | funds | |
| £ | £ | |
| Interest receivable and similar income; | ||
| Interest receivable on bank deposits | 411 | 411 |
| Totalfor2023 | 411 | 411 |
6 Expenditure on charitable activities
| Activity | ||||
|---|---|---|---|---|
| undertaken | Support | |||
| directly | costs | 2023 | 2022 | |
| £ | £ | £ | £ | |
| Wages and salaries | 3,113,869 | 441,411 | 3,555,280 | 3,349,116 |
| Other costs | 942,783 | 464,469 | 1,407,252 | 1,258,608 |
| Depreciation | 24,913 | - | 24,913 | 9,496 |
| 4,081,565 | 905,880 | 4,987,445 | 4,617,220 |
£2,776,381 (2022 - £2,841,745) of the above expenditure was attributable to general unrestricted funds, £51,720 (2022 - £nil) to designated funds and £2,159,344 (2022 - £1,775,475) to restricted funds.
Page 32
Plymouth Citizens Advice Bureaux
Notes to the Financial Statements for the Year Ended 31 March 2023
7 Analysis of governance and support costs
Charitable activities expenditure
| Unrestricted | |||||
|---|---|---|---|---|---|
| funds | |||||
| Restricted | Total | Total | |||
| Basis of | General | funds | 2023 | 2022 | |
| allocation | £ | £ | £ | £ | |
| Staff costs - wages and | |||||
| salaries | Project FTE | 259,831 | 181,580 | 441,411 | 360,314 |
| Legal and professional | |||||
| fees | Project FTE | 10,256 | 7,167 | 17,423 | 32,799 |
| Office expenses | Project FTE | 173,249 | 121,073 | 294,322 | 199,926 |
| Depreciation | Project FTE | - | - | - | 693 |
| Governance costs | Project FTE | 5,267 | 3,681 | 8,948 | 8,081 |
| Premises costs | Project FTE | 82,304 | 57,517 | 139,821 | 131,230 |
| Travel | Project FTE | 2,328 | 1,627 | 3,955 | 3,230 |
| 533,235 | 372,645 | 905,880 | 736,273 |
Governance costs
| Unrestricted | |||
|---|---|---|---|
| funds | Restricted | Total | |
| General | funds | funds | |
| £ | £ | £ | |
| Audit fees | |||
| Audit ofthe financial statements | 5,127 | 3,583 | 8,710 |
| Trustees' expenses | 140 | 98 | 238 |
| Total for 2023 | 5,267 | 3,681 | 8,948 |
| Totalfor2022 | 4,535 | 3,546 | 8,081 |
Page 33
Plymouth Citizens Advice Bureaux
Notes to the Financial Statements for the Year Ended 31 March 2023
8 Net incoming/outgoing resources
Net incoming resources for the year include:
----- Start of picture text -----
|||||||
|---|---|---|---|---|---|
|2023|2022|
|£|£|
|Operating|leases|83,461|82,277|
|Audit|fees|8,710|7,500|
|Depreciation|of|fixed|assets|24,913|4,137|
----- End of picture text -----
9 Trustees remuneration and expenses
No Trustees, nor any persons connected with them, have received any remuneration from the Charity during the year.
1 trustee received reimbursement of travel and subsistence expenses amounting to £238 in the current year (2022: £186).
10 Staff costs
The aggregate payroll costs were as follows:
----- Start of picture text -----
|||||||
|---|---|---|---|---|---|
|2023|2022|
|£|£|
|Staff|costs|during|the|year|were:|
|Wages|and|salaries|3,159,123|2,992,100|
|Social|security|costs|267,311|235,822|
|Pension|costs|122,846|121,194|
|3,549,280|3,349,116|
----- End of picture text -----
The monthly average number of persons (including senior management team) employed by the Charity during the year was as follows:
----- Start of picture text -----
|||||||
|---|---|---|---|---|---|
|2023|2022|
|No|No|
|Average|monthly|number|of employees|149|148|
----- End of picture text -----
The number of employees whose emoluments fell within the following bands was:
£60,001 - £70,000
2023 No 1
The total employee benefits of the key management personnel of the Charity were £251,421 (2022 - £304,825). Key management personnel are the management listed on page 14 in the Trustees' Report.
Page 34
Plymouth Citizens Advice Bureaux
Notes to the Financial Statements for the Year Ended 31 March 2023
11 Taxation
The charity is a registered charity and is therefore exempt from taxation.
12 Tangible fixed assets
| 12 Tangible fixed assets | ||||
|---|---|---|---|---|
| Furniture and | Computer | Leasehold | ||
| equipment | equipment | improvements | Total | |
| £ | £ | £ | £ | |
| Cost | ||||
| At 1 April 2022 | 102,232 | 109,510 | 20,490 | 232,232 |
| Additions | - | - | 144,272 | 144,272 |
| At 31 March 2023 | 102,232 | 109,510 | 164,762 | 376,504 |
| Depreciation | ||||
| At 1 April 2022 | 102,232 | 109,510 | 20,490 | 232,232 |
| Charge for the year | - | - | 24,913 | 24,913 |
| At 31 March 2023 | 102,232 | 109,510 | 45,403 | 257,145 |
| Net book value | ||||
| At 31 March 2023 | - | - | 119,359 | 119,359 |
| At 31 March 2022 | = | = | = | = |
| 13 Debtors | ||||
| 2023 | 2022 | |||
| £ | £ | |||
| Trade debtors | 216,947 | 544,347 | ||
| Prepayments | 52,297 | 52,835 | ||
| Accrued income | 242,831 | 178,743 | ||
| Other debtors | - | 626 | ||
| 512,075 | 776,551 | |||
| 14 Cash and cash equivalents | ||||
| 2023 | 2022 | |||
| £ | £ | |||
| Cashatbank | 1,329,848 | 1,198,793 |
Page 35
Plymouth Citizens Advice Bureaux
Notes to the Financial Statements for the Year Ended 31 March 2023
15 Creditors: amounts falling due within one year
| 15 Creditors: amounts falling due within one year | ||
|---|---|---|
| 2023 | 2022 | |
| £ | £ | |
| Trade creditors | 67,131 | 80,450 |
| Other taxation and social security | 64,688 | 56,361 |
| VAT | 183,000 | 235,778 |
| Other creditors | 310,133 | 107,038 |
| Accruals | 70,160 | 64,958 |
| Deferred income | 137,840 | 498,871 |
| 832,952 | 1,043,456 |
Funds held as custodian or agent
The charity holds other funds and acts as agent on behalf of other organisations. These funds are disclosed within the “Other creditors” balance and are held as follows:
| 2023 | 2022 | |
|---|---|---|
| £ | £ | |
| Advice Plymouth | - | 46,348 |
| Charis Fund | 20 | 37,610 |
| Householdsupportfund | 260,227 |
16 Pension and other schemes
Defined contribution pension scheme
The Charity operates a defined contribution pension scheme. The pension cost charge for the year represents contributions payable by the Charity to the scheme and amounted to £128,846 (2022 - £121,194).
Contributions totalling £21,639 (2022: £18,090) were payable to the scheme at the end of the year and are included in creditors.
Page 36
Plymouth Citizens Advice Bureaux
Notes to the Financial Statements for the Year Ended 31 March 2023
Defined benefit pension schemes
Devon County Council Pension Fund
One employee is an active contributing memeber of the Local Government Pension Scheme (LGPS) with 7 deferred pensioners and 9 pensioners as members of the scheme which is administered by Devon County Council. This is a multi-employer defined benefit pension scheme.
Contributions are set every three years as a result of the actuarial valuation of the Fund required by the Regulations. The next actuarial valuation of the Fund will be carried out as at 31 March 2023 and will set the contribution period from 1 April 2023 to 31 March 2026. There are no minimum funding requirements in the LGPS but the contributions are generally set to target a funding level of 100% using actuarial valuation assumptions.
On the Employer's withdrawal from the Fund, a cessation valuation will be carried out in accordance with Regulation 64 of the LGPS Regulations 2013 which will determine the termination contribution due by the Employer, on a set of assumptions deemed appropriate by the Fund Actuary.
The total contribution made for the year ended 31 March 2023 is £49,000 (2022: £29,000) of which employer’s contributions totalled £47,000 (2022: £27,000) and employees’ contributions totalled £2,892 (2022: £2,000). The agreed employer contribution rate for the period from 1 April 2023 is 21.9% of payroll plus £4,000.
At the year end £717 (2022: £10,250) was payable to the Scheme and this is included in creditors.
The date of the most recent comprehensive actuarial valuation was 31 March 2022. To assess the value of the Employer's liabilities at 31 March 2023 the actuary has rolled forward the value of the Employer's liabilities calculated for the funding valuation as at 31 March 2021, using financial assumptions that comply with FRS102.
The full actuarial valuation involved projecting future cashflows to be paid from the Fund and placing a value on them. These cashflows include pensions currently being paid to members of the Fund as well as pensions (and lump sums) that may be payable in future to members of the Fund or their dependents. These pensions are linked to inflation and will normally be payable on retirement for the life of the member or a dependent following the member's death.
It is not possible to assess the accuracy of the estimated value of liabilities as at 31 March 2023 without completing a full valuation. However the actuary is satisfied that the approach of rolling forward the previous valuation data to 31 March 2022 should not introduce any material distortions in the results provided that the actual experience of the Employer and the Fund has been broadly in line with the underlying assumptions, and that the structure of the liabilities is substantially the same as at the latest formal valuation. From the information received by the actuary they have no evidence that this approach is inappropriate.
To calculate the asset share the actuary has rolled forward the assets allocated to the Employer at 31 March 2022 allowing for investment returns (estimated where necessary), contributions paid into, and estimated benefits paid from, the Fund by and in respect of the Employer and its employees.
As required under FRS102 the actuary has used the projected unit method of valuation to calculate the service cost.
Page 37
Plymouth Citizens Advice Bureaux
Notes to the Financial Statements for the Year Ended 31 March 2023
The total cost relating to defined benefit schemes for the year recognised in profit or loss as an expense was £25,000 (2022 - £24,000).
Reconciliation of scheme assets and liabilities to assets and liabilities recognised
The amounts recognised in the statement of financial position are as follows:
----- Start of picture text -----
||||||||||
|---|---|---|---|---|---|---|---|---|
|2023|2022|
|£|£|
|Fair|value|of|scheme|assets|760,000|749,000|
|Present|value|of|defined|benefit|obligation|(827,000)|(1,256,000)|
|Defined|benefit|pension|scheme|deficit|(67,000)|(507,000)|
|Defined benefit|obligation|
|Changes|in|the|defined|benefit|obligation|are|as|follows:|
|2023|
|£|
|Present|value|at|start|of year|1,256,000|
|Current|service|cost|12,000|
|Interest|cost|32,000|
|Changes|in|financial|assumptions|(400,000)|
|Change|in|demographic|assumptions|(65,000)|
|Experience|loss|on|defined|benefit|obligations|17,000|
|Estimated|benefits|paid|net|of transfers|(27,000)|
|Contributions|by|scheme|participants|and|other|employees|2,000|
|Present|value|at|end|of year|827,000|
----- End of picture text -----
Changes in the defined benefit obligation are as follows:
Fair value of scheme assets
Changes in the fair value of scheme assets are as follows:
----- Start of picture text -----
||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
|2023|
|£|
|Fair|value|at|start|of|year|749,000|
|Interest|income|20,000|
|Return|on|plan|assets,|excluding|amounts|included|in|interest|income/(expense)|(30,000)|
|Actuarial|gains|and|losses|(1,000)|
|Employer|contributions|47,000|
|Contributions|by|scheme|participants|2,000|
|Estimated|benefits|paid|plus|unfunded|net|of|transfers|in|(27,000)|
|Fair|value|at|end|of year|760,000|
----- End of picture text -----
Page 38
Plymouth Citizens Advice Bureaux
Notes to the Financial Statements for the Year Ended 31 March 2023
Analysis of assets
The major categories of scheme assets are as follows:
| 2023 | 2022 | |
|---|---|---|
| £ | £ | |
| Gilts | - | 99,000 |
| UK equities | 60,000 | 67,000 |
| Overseas equities | 340,000 | 377,000 |
| Property | 67,000 | 71,000 |
| Infrastructure | 68,000 | 42,000 |
| Target return portfolio | 53,000 | 69,000 |
| Cash | 9,000 | 9,000 |
| Other bonds | __163,000, | __15,000_ |
| 760,000 | 749,000 | |
| Return on scheme assets | ||
| 2023 | 2022 | |
| £ | £ | |
| Returnonschemeassets | (10,000) | 53,000 |
The pension scheme has not invested in any of the Charity's own financial instruments or in properties or other assets used by the Charity.
Principal actuarial assumptions
The principal actuarial assumptions at the statement of financial position date are as follows:
| 2023 | 2022 | |
|---|---|---|
| % | % | |
| CPI increases | 2.90 | 2.80 |
| Discount rate | 4.80 | 2.60 |
| Future salary increases | 3.90 | 4.20 |
| Future pension increases | 2.90 | 3.20 |
| Postretirement mortalityassumptions | ||
| 2023 | 2022 | |
| Years | Years | |
| Current UK pensioners at retirement age - male | 22.00 | 23.00 |
| Current UK pensioners at retirement age - female | 23.00 | 24.00 |
| Future UK pensioners at retirement age - male | 23.00 | 24.00 |
| FutureUKpensionersatretirementage-female | 24.00 | 25.00 |
Page 39
Plymouth Citizens Advice Bureaux
Notes to the Financial Statements for the Year Ended 31 March 2023
Amounts recognised in the Statement of Financial Activities:
| 2023 | 2022 | ||||||
|---|---|---|---|---|---|---|---|
| £°000 | £°000 | ||||||
| Service cost | 9 | 11 | |||||
| Net interest on | the defined liability/ | (asset) | 12 | 15 | |||
| Past service costs | - | 46 | |||||
| Total charge Lg: Activities |
to Statement of |
Financial | 21 | 72 | |||
| Sensitivity analysis | |||||||
| £'000 | £°000 | £°000 | |||||
| Adjustment to | discount rate | +0.1% | 0.0% | -0.1% | |||
| Present value of total | obligation | 816 | 827 | 838 | |||
| Projected service cost | 6 | 6 | 6 | ||||
| Adjustment to | long term salary increase | +0.1% | 0.0% | -0.1% | |||
| Present value of total | obligation | 827 | 827 | 827 | |||
| Projected service cost | 6 | 6 | 6 | ||||
| Adjustment to pension increases and deferred revaluation |
a nT |
é OOM |
N40 0.1% |
||||
| Present value of total | obligation | 838 | 827 | 816 | |||
| Projected service cost | 6 | 6 | 6 | ||||
| Adjustment to | life expectancy assumptions | + 1 year | None | - 1 year | |||
| Present value of total | obligation | 859 | 827 | 797 | |||
| Projectedservicecost | 6 | 6 | 6 |
Page 40
Plymouth Citizens Advice Bureaux
Notes to the Financial Statements for the Year Ended 31 March 2023
17 Commitments
Annual charges for operating leases which expire:
| Annual charges for operating leases which expire: | ||||
|---|---|---|---|---|
| Other | equipment | Land and | buildings | |
| 31/03/23 | 31/03/22 | 31/03/23 | 31/03/22 | |
| £ | £ | £ | £ | |
| Not later than one year | 4,768 | 3,054 | 84,067 | 80,000 |
| Later than one year and not later than five years | 15,652 | 645 | 46,550 | 49,375 |
| Over five years | - | - | - | - |
| 20,420 | 3,699 | 130,617 | 129,375 |
Page 41
Plymouth Citizens Advice Bureaux
Notes to the Financial Statements for the Year Ended 31 March 2023
| 18 Funds | Other | Balance | ||||
|---|---|---|---|---|---|---|
| Balance | recognised | at 31 | ||||
| at1 April | Incoming | Resources | gains/ | March | ||
| 2022 | resources | expended | Transfers | (losses) | 2023 | |
| £ | £ | £ | £ | £ | £ | |
| Unrestricted funds | ||||||
| General | ||||||
| Unrestricted funds | 671,427 | 3,029,636 | (2,776,381) | (198,120) | - | 726,562 |
| Designated | ||||||
| Redundancy major | ||||||
| projects | 36,000 | - | - | - | - | 36,000 |
| Post COVID Support | ||||||
| and Recovery Fund | 43,600 | - | - | (13,600) | - | 30,000 |
| Inovation and IT fund | 90,000 | - | - | - | - | 90,000 |
| Pension liability relief | ||||||
| fund | 50,000 | - | (51,720) | 31,720 | - | 30,000 |
| New street level | ||||||
| advice centre | - | - | - | 180,000 | - | 180,000 |
| 219,600 | - | (51,720) | 198,120 | - | 366,000 | |
| Total unrestricted | ||||||
| funds | 891,027 | 3,029,636 | (2,828,101) | - | - | 1,092,562 |
| Restricted funds | ||||||
| MaPs Mainstream | - | 228,189 | (222,310) | - | - | 5,879 |
| Baring Foundation | 1,095 | - | (1,095) | - | - | - |
| MaPS Webchat - | ||||||
| (previously IDMAP) | 3,809 | 32,444 | (31,771) | - | - | 4,482 |
| EDF Energy | - | 1,021,572 | (1,021,572) | - | - | = |
| EDF Energy Hub | 3,629 | - | (3,629) | - | - | - |
| Hub Office Move | 1,333 | - | (1,333) | - | e | |
| Kay Kendall | ||||||
| Leukaemia Fund | - | 76,904 | (76,904) | - | a | = |
| PGG Pension Wise | 18,849 | 414,334 | (424,801) | - | - | 8,382 |
| Loan shark | 1,657 | - | (90) | - | - | 1,567 |
| USBPL | 10,479 | 4,486 | (14,965) | - | - | se |
| MaPs - Trainee | 10 | - | - | - | - | 10 |
| Help to claim | - | 314,373 | (310,445) | - | - | 3,928 |
| MaPs - Debt hub | - | 61,949 | (50,429) | - | - | 11,520 |
| Totalrestrictedfunds | 40,861 | 2,154,251 | (2,159,344) | - | - | 35,768 |
Page 42
Plymouth Citizens Advice Bureaux
Notes to the Financial Statements for the Year Ended 31 March 2023
| Other | Balance | |||||
|---|---|---|---|---|---|---|
| Balance | recognised | at 31 | ||||
| at1 April | Incoming | Resources | gains/ | March | ||
| 2022 | resources | expended | Transfers | (losses) | 2023 | |
| £ | £ | £ | £ | £ | £ | |
| Other funds | ||||||
| Defined Benefit | ||||||
| Pension Scheme | (507,000) | - | 6,000 | - | 434,000 | (67,000) |
| Totalfunds | 424,888 | 5,183,887 | (4,981,445) | - | 434,000 | 1,061,330 |
In previous years, the trustees created a designated fund for payments to reduce the defined benefit pension deficit. This fund was fully expended during the year and a further £30,000 was designated for 2024.
The trustees have transferred £180,000 to create a fund for costs incurred for the street level advice centre which are expected in the next financial year.
Page 43
Plymouth Citizens Advice Bureaux
Notes to the Financial Statements for the Year Ended 31 March 2023
| Other | Balance | |||||
|---|---|---|---|---|---|---|
| Balance | recognised | at 31 | ||||
| at1 April | Incoming | Resources | gains | March | ||
| 2021 | resources | expended | Transfers | /(losses) | 2022 | |
| £ | £ | £ | £ | £ | £ | |
| Unrestricted funds | ||||||
| General | ||||||
| Unrestricted funds | 638,660 | 2,874,663 | (2,841,743) | (153) | - | 671,427 |
| Designated | ||||||
| Redundancy major | ||||||
| projects | 36,000 | - | - | - | " | 36,000 |
| Post COVID Support | ||||||
| and Recovery Fund | 43,600 | - | - | - | - | 43,600 |
| Inovation and IT fund | 90,000 | - | - | - | - | 90,000 |
| Pension liability relief | ||||||
| fund | 50,000 | - | - | - | - | 50,000 |
| 219,600 | - | - | - | - | 219,600 | |
| Total unrestricted | ||||||
| funds | 858,260 | 2,874,663 | (2,841,743) | (153) | - | 891,027 |
| Restricted | ||||||
| MaPs Mainstream | - | 155,333 | (155,333) | - | - | - |
| Baring Foundation | 1,095 | - | - | - | - | 1,095 |
| MaPS Webchat - | ||||||
| (previously IDMAP) | 3,811 | 49,136 | (49,138) | - | - | 3,809 |
| EDF Energy | 4,787 | 999,773 | (1,004,560) | - | - | - |
| EDF Energy Hub | 3,629 | - | - | - | - | 3,629 |
| Hub Office Move | 1,333 | - | - | - | - | 1,333 |
| Kay Kendall | ||||||
| Leukaemia Fund | 776 | 72,568 | (73,497) | 153 | - | |
| PGG Pension Wise | 18,849 | 372,434 | (372,434) | - | - | 18,849 |
| Loan shark | 2,109 | - | (452) | - | - | 1,657 |
| USBPL | - | 36,101 | (25,622) | = | 10,479 | |
| MaPs- Trainee | 10 | 31,812 | (31,812) | - | - | 10 |
| Help to claim | - | 62,629 | (62,629) | - | - | ‘ |
| Total restricted funds | 36,399 | 1,779,786 | (1,775,477) | 153 | - | 40,861 |
| Other funds | ||||||
| Defined Benefit | ||||||
| Pension Scheme | (593,000) | - | - | - | 86,000 | (507,000) |
| Totalfunds | 301,659 | 4,654,449 | (4,617,220) | - | 86,000 | 424,888 |
Page 44
Plymouth Citizens Advice Bureaux
Notes to the Financial Statements for the Year Ended 31 March 2023
The specific purposes for which the funds are to be applied are as follows:
Money Advice Service Funded Debt Advice Project (Mainstream)
We aim to support clients through the process of managing their debts, from discussing the priority of the debts and advising on immediate action to supporting long term sustainable options for clients. We aim to empower the client and with our support help clients take control of their situation.
Baring Foundation
The project was to raise awareness and offer training to third sector organisations across Devon and Cornwall on how to use civil law and human rights approaches to support clients who are at substantial risk of harm if they were to be found fit for work under the Work Capability Assessment. IDMAP/ Money and Pension Service Webchat Provides webchat and email advice activated through the money advice pages. of www.adviceguide.org.uk
EDF Energy Trust
This project contributes to the relief of poverty with a particular focus on fuel poverty and helping families and individuals who are struggling to pay for their consumption of gas and electricity. The Trust can help clients that are EDFE customers and need financial assistance with: Electric arrears, Gas arrears, Debt Relief Order fee, Bankruptcy fee, Fridges, freezers, cookers and washing machines.
EDF Energy Hub
The Energy Hub grant funding was provided with the intension of fulfilling the following aims: * To provide a follow up service to clients who have received EDF Energy Trust Fund awards * To extend energy debt provision to non EDF Energy clients
- To produce research into the effectiveness of current energy debt provision, specifically around the effectiveness of trust fund awards, in helping people manage better in the future.
EDF Energy Hub Office Move
This funding enabled us to update the offices and telephony at Citizens Advice Plymouth’s offices at Cobourg House so we could make better use of technology and ultimately operate a more efficient service for our clients.
Kay Kendall Leukaemia Fund
We provide specialist advice and assistance to people across The South West Regional Health Authority who have leukaemia (and related disorders), their families and carers.
Page 45
Plymouth Citizens Advice Bureaux
Notes to the Financial Statements for the Year Ended 31 March 2023
PGG Pension Wise
Offers guidance to clients with a Defined Contribution pension to understand the new pension freedoms introduced in April 2015. The target audience for PW is divided between two main groups; 50-54 year olds who are planning their retirement but cannot actually access their pension pots and those over 55 who have the ability to release funds.
Loan Shark
Citizens Advice Plymouth received funding from the Illegal Money Lending team and commissioned artists Jon Lilly and Harriet Russell to design and install a mural to raise awareness of the dangers of loan sharks and signpost victims to the team for help and support in late 2019.
Help to Claim
The project was set up to assist people with their applications for Universal Credit. It was delivered across multiple channels to increase accessibility and meet support needs. Face to face support along with webchat and phone support were delivered by local Citizens Advice advisers.
Money Advice and Pensions Service Funded Debt Advice Project - Debt Hub
As part of a National Telephone Service, we aim to support clients via the telephone and webchat through the process of managing their debts, from discussing the priority of the debts and advising on immediate action to supporting long term sustainable options for clients.We aim to empower the client and with our support help clients take control of their situation
Money Advice and Pension Service Trainee
This is a sub project of the Money Advice Service Debt Advice Project where funding has been received to increase the capacity of this project by taking on a trainee to assist with the work of the project.
USBPL
As part of the delivery of the Help to Claim Project, the Department for Work and Pensions provided grant funding for a network of 31 district-level Best Practice Leads, based in local Citizens Advice (and including in the LCA), to gather evidence about Universal Credit and Help to Claim, build local relationships and to develop and share best practice. This included gathering intelligence and insight into how Universal Credit and Help to Claim is working, developing an approach to sharing intelligence and to track experiences of clients using the Help to Claim service.
19 Related party transactions
During the year the Charity made the following related party transactions:
Citizens Advice Bureaux Devon
(Trustee in common)
During the year a grant was received from the above named party for £4,006. At the balance sheet date the amount due to/from Citizens Advice Bureaux Devon was E£Nil (2022 - ENil).
Page 46
Plymouth Citizens Advice Bureaux
Notes to the Financial Statements for the Year Ended 31 March 2023
20 Analysis of net assets between funds
| Total funds | |||||
|---|---|---|---|---|---|
| at 31 | |||||
| Unrestricted funds | _Restricted | Other | March | ||
| General | Designated | funds | funds | 2023 | |
| £ | £ | £ | £ | £ | |
| Tangible fixed assets | 119,359 | - | = | - | 119,359 |
| Current assets | 1,490,155 | 366,000 | 35,768 | - | 1,891,923 |
| Current liabilities | (882,952) | - | - | a | (882,952) |
| Pension scheme liability | - | - | - | (67,000) | (67,000) |
| Total net assets | 726,562 | 366,000 | 35,768 | (67,000) | 1,061,330 |
| Total funds | |||||
| at 31 | |||||
| Unrestricted funds | _Restricted | Other | March | ||
| General | Designated | funds | funds | 2022 | |
| £ | £ | £ | £ | £ | |
| Current assets | 1,611,204 | 219,600 | 144,540 | ; | 1,975,344 |
| Current liabilities | (939,779) | - | (103,677) | - | (1,043,456) |
| Pension scheme liability | - | - | - | (507,000) | (507,000) |
| Totalnetassets | 671,425 | 219,600 | 40,863 | (507,000) | 424,888 |
21 Analysis of changes in net debt
| 4 April 2022. | Cashflow | Other non-cash changes |
=>! March 2023 |
|
|---|---|---|---|---|
| Cash at bank and in hand | 1,198,793 | 131,055 | - | 1,329,848 |
| Netdebt | 1,198,793 | 131,055 | - | 1,329,848 |
Page 47