WOKINGHAM & DISTRICT CITIZENS ADVICE BUREAU (A company limited by guarantee) UNAUDITED FINANCIAL STATEMENTS 31 MARCH 2024 Company Registration Number 02862148 Charity Number 1027729
WOKINGHAM & DISTRICT CITIZENS ADVICE BUREAU FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2024 CONTENTS PAGE Trustees, Annual Report (incorporating the Directors, Report) Independent Examiners, Rq)ort to the Directors 10 Statement of Financial Activities Statement of Financial Position 12 Statement of Cash flows 13 Notes to the financial statements 14
WOKINGHAM & DISTRICT CITIZENS ADVICE BUREAU TRUSTEES, ANNUAL REPORT YEAR ENDED 31 MARCH 2024 The trustees, who are also directors for the purposes of charity law, have pleasure in presenting their report and the financial statements of the charity for the year ended 31 March 2024. REFERENCE AND ADMINISTRATIVE INFORMATION Registered Charity Name Wokingham & District Citizens Advice Bureau Charity registration number 1027729 Company registration number 02862148 HonorAry Founder Member Mrs A R Potts Trustees Ms J Cameron Mr S I Daud (resigned 15 May 2023) Ms A Deller (appointed as Company Secretary 15 November 2023) Mr M B Drake (resigned 15 November 2023) Mrs M Juarez Perez Dr R Lagarde-Forest (resigned 21 September 2023) Mrs A Lucas Ms N Lynam Ms V Walwyn-Tait (resigned 14 April 2023) Ms S De Quidt (appointed 15 Novcmber 2023) Mr J P Gurney (appointed 15 November 2023) Registered office Waterford House Erftstadt Court Wokingham Berkshire RG40 2YF Operational address Waterford House Erftstadt Court Wokingham Berkshire RG40 2YF Chief Executive Ms R Hassan
WOKINGHAM & DISTRICT CITIZENS ADVICE BUREAU TRUSTEES, ANNUAL REPORT YEAR ENDED 31 MARCH 2024 -continued- Charity secretary Ms A Dellar (Appointed 15 November 2023) Independent reviewer Julie Tattersdill 33 Manor Road Wokingham Berkshire RG414AR Bankers HSBC Bank plc 1-2 Market Place Wokingham Berkshire RG40 IAL Solicitors Clifton Ingram LLP 22-24 Broad Street Wokingham Berkshire RG40 IBA
WOKINGHAM & DISTIUCT CITIZEINS ADVICE BUREAU TRUSTEES, ANNUAL REPORT YEAR ENDED 31 MARCH 2024 -continued- STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document The organisation is a charitable company limited by guarantee, incoryorated on 13 October 1993 and registered as a charity on 27 October 1993. The charity was established under a Memorandum of Association which established the objects and powers of the charitable company and is governed under its Articles of Association. In the event of the charity being wound up members are required to contribute an amount not exceeding £1. Recruitment and appointment of Trustees The trustees of the charity are also charity trustees for the purposes of charity law and under the charity's Articles are known as members of the Trustee Board. Under the requirements of the Memorandum and Articles of Association the members of the Trustee Board are elected to serve for a perlod of three years after which they must be re-elected at the next Annual General Meeting. All nominated or co-opted Trustees shall retire from offi¢¢ at the third annual general meeting following the ordinary meeting of the Trustee Board at which they were appointed but may then be elected or re-appointed. Trustees and training The trustecs are generally already familiar with the practical work of the charity. Additionally, new tNstees are assisted in familiarising themselves with the clwity and the context within which it operates. This process covers". The obligations of Trustee Board members. The main documents which set out the opcrational framework for thc charity including the Memorandum and Articles. Resourcing and the current financial position as set out in the latest published accounts. Future plans and objectivcs. Risk management Where appropriate, systems or procedures have been established to mitigate the risks the charity faces. Internal control risks arc minimised by th¢ implementation of proccdures for authorisation of all transactions and projects. Procedures are Èn place to ensure compliance with health and safety of staff, volunteers, clients and visitors to the offices. These procedures are periodically reviewed to ensure that they continue to meet the needs of the charity. Organisational structure The Wokingham & District Citizens Advice Bureau Trnstees met four tirnes during the year. The Trustces Board operates under specific tern]s of reference. Quarterly financial reports are prcpared together with Annual Budgets and Latest Estimates of thc Bureau affairs and these are submitted to and approved by the Trustees. Trustees also met, togcthcr with the Management team, on a training day.
WOKINGHAM & DISTIUCT CITIZENS ADVICE BUREAU TRUSTEES, ANNUAL REPORT YEAR ENDED 31 MARCH 2024 -continued- Relvdted parties In so far as it is complimentary to the charity's objects, the charity is guided by both local and national policy. Objective The objective of the charity is to establish and conduct a locally based, independently funded Citizens Advice Scrvicc with the Citizens Advice national organisation to provide free, independent, non- judgmental, confidential and impartial service of advice for the public who live and work in Wokingham Borough. The charity's service aims: To provide the advice people need and to empower people to be better able to resolve their future problems. To campaign to improve the policies and practices that affect people's lives in Wokingham Borough To be the go-to charity for anyone in the borough needing help to find a way forward. Principal activity The main area of charitable activity is the provision of general advice and infomiation and specialist advice on debt, benefits, housing and employment matters. The charity helps people living and/or working across Wokingham Borough. We help pcople find a way forward with thcir issucs, with a particular focus on queries around wclfare benefits, debt, housing, relationship problems and employment law. Services provided to the people of Wokingham Borough include: Generalist advice, inforn]ation and support, delivered by trained volunteers and staff who offer holistic support on an individual basis, with support from supervisors - by telephone, face-to-face in Wokingham and Woodley with referrals via our website loo Operating a 'One Front Door, link to ensure that pcoplc get the appropriate level of support from Citizens Advice or via other organisations who are suited to their nccds, such as local food banks, The Cowshed, Wokingham United Charities, Berkshire Women's Aid, Wokingham Volunteer Ccnlrv, FirsL D¢1y1, ILLvulv¥, Lii& VibiliiL¥ SIli¥LLlC, A¥e UK BeL'ksliiL'c aiid iiiaiiy iiiore. Outreach across Wokingham Borough with our purpose-designed Mobile Advice Unit, an office on wheels, to support people across our communities Specialist advice to people with additional vulnerabilities through our home visitor project, Advice At Home. Money advice including specialist support for complex debt problems. Co-designing an anti-povertyltackling poverty strategy as part of a hardship alliance with Wokingham Borough Council, Wokingham United Charitics, Age UK Berkshire and First Days. Values Our staff, volunteers and trustees helped to decide our values in June 2019 - as part of a business planning process looking at thc future of our charity. We encourage - we're not afraid of trying new things and we support each other to figure it out. We question every idea to make it better and we change when things are not working. We're approachablc - we work together with stakeholdcrs and partners to find the best way forward fvi uui knli¢iits. We eiisulc tliat our scrviccs reacli thosc who nccd us. We're confident - we do whal we say we'll do and keep our promises. We remember that we work for a charily and usc our resources effectively.
wONGHAm & DISTRICT CITIZENS ADVICE BUREAU TRUSTEES, ANNUAL REPORT YEAR ENDED 31 MARCH 2024 -continued- Equality and Diversity statement At Citizens Advice we believe that our common humanity makes us equal in worth, dignity and rights. We will be a strong champion for equality by: listening to, and working with our communities. challenging discrimination through advice. championing equality through research and campaigns. valuing diversity as an employer and volunteer organization. finding ways to embed diversity of thought. We will be a stronger organisation by embedding diversity of thought into our decision making processes. BUSINESS REVIEW AND PERFORMANCE FOR THE YEIIR Business Review Our vision is to be the go-to charity in Wokingham, making a positive and lasting difference in the lives of people living an(Vor working in the Borough. We are a helping hand for people who need support navigating through life, helping them find a way forward with their problems. Thc vision will be achicvcd through: Getting the basics right Ensuring all our clients gct a consistent service, whatever the problem, whatever the point of access. Our test is a base level of service, which is accessible, of good quality and moves them forward. Empowering people Fostering a culture of learning and improvement. Securing an accreditation through a best practice framework to model ourselves against. Continuing to deliver development days as a forum for ideas and development of our team. Utilising technology to be effective and efficient Making the most of what technology can do for us, both internally and externally. Ensuring our colleagues have the appropriate technology, training and support to fulfil their role. Clicnt-focused - listen to and learn from clients Colleagues will scrutinise the work of the organisation to ensure our services meet the nceds of our clients. We will champion and trial new ideas that will help improve our services. Continue to grow, adapt and be flexible Idcntifying gaps in service provision, we will explore how the organisation can develop innovativc ideas to provide support. We will highlight our client stories to promote our services and the issues faced locally. During the year we reviewed our Business Strategy and made some adjustments in line with the evolving needs of the local community and funding changes. Resetting some aims and priorities for 2024125.
WOKINGHAM & DISTRICT CITIZENS ADVICE BUREAU TRUSTEES, ANIYUAL REPORT YEIIR ENDED 31 MARCH 2024 -continued- One Front Door funding was removed from March 2024 (extended for transition arrangements until June 2024), during the year we continued to work closely with Wokingham Borough Council and other nderS to provide vital support for our community, adjusting our aims accordingly as follows: 'I'o provide thc advice people need for the problems they face To improve the policies and practices that affect people's lives Our five strategic priorities to enable us to do this are; ACCESS Continue to be the Go-To charity which is easy to access to get help on day to day practical problems. QUALITY Be focussed on providing high quality advice and support lo those that need it VALUE FOR MONEY Ensure we are as efficient as possible to ensure maximum value from our funding SUSTAINABILITY Have a more stable and sustainable organisation which plans for the long terni PEOPLE Bc a welcoming organisation in which staff and volunteers alike can grow and develop their skills The 'Cost of living, crisis that has followed the Covid pandemic has continued to place great dcmands on the Charity sector and the Board of Trustees would like to record our thanks to all staff, volunteers, fundcrs and partners for their exceptional work and support during the year. Performance From I st April 2023 to 31 st March 2024: We helped 5,041 unique clients, a decrease of l /(k ovcr the prevlous year Dealt with 21,975 issues - an incrcase of 50/0 over the previous year We secured outcomes for clients including £1,181,071 (2023: £795,000) of income gains and £538,000 (2023: 254,048) of debts written off The top issues we helped with were Benefits & tax credits, Charitable Support & access to food banks, Housing, Debt, Utilities & communications and Employment FinAneial Results The net gain on unrestricted funds (representing core activities} amounted to £954. The balance of funds carried torward at 31 March 2U24 is £121,5'1'1 and this balance has been allocated to designated funds (as detailed in the notcs to the accounts).
WOKINGHAM & DISTRICT CITIZENS ADVICE BUREAU TRUSTEES, ANNUAL REPORT YEAR ENDED 31 MARCH 2024 -continued- Principal Funding Sources The charity received approximately 63 % of its unrestricted funding from Wokingham Borough Council. In the cvcnt that Wokingham Borough Council was unable to continue providing this level of support the charity would cease to operate unless new funding was found. During the year ended 31 March 2024 Wokingham Borough Council gave notice to cease their funding relating to the One Front Door Service at the end of June 2024. During the year ended 31 March 2024 Income received in respect of this contract amounted to £117,443. The restricted costs associated with this contract have also been tenninated. Reserves Policy Note 18 to the financial statements summarises the year's movements on each fund. With the exception of restricted and designated funds thc Committee has reviewed the rcserves of the charity and concluded that, providing ongoing funding is received, only a small amount of reserves is required at this time (excluding designated reserves). Rcstricted funds relate principally to funded projects for which incomc and expenditure balance over the period of their operation (they are listed within the notes to the accounts). However, receipts and payments arc not always in step in the short tenn and balances held at any given date can vary. The total balances on restricted funds at 31 March 2024 and carried forward to 202412025 was £nil. The Charity Commissioncrs require organisations such as thc charity to establish reserves to covcr the eventuality of the Charity ceasing to operate and to unwind in an orderly fashion whilst mceting all of its financial and operational obligations. As a company Limited by Guarantee the charity has contingent financial liabilitics in respect of employment costs and expenses upon cessation. The charity will review future income and will ensure as far as possible that inrne is derived from a wide variety of sources. They will take all the necessary precautions to ensure that at no time in the foreseeable future would it be possible for the cessation or significant reduction in core funding to tnaterially affect the organization. The Trustees have detern]ined the need to hold sufficient free reserves to be able to cover the potential redundancy costs and three months norn]al operation expenditure to allow an orderly wind down. Given the above objective and the risks associated with the reliance on principal funding from onc source. the Tcnninal and Operations Reserve at 31 March 2024 has decreased to £121,577. Whilst this is sufficient to cover redundancy costs it does not provide suffIcient cover for three months operating costs and the Trustees recognize the need to reduce this gap as soon as possible. Employment costs Operating costs 171,151 16,500 187,651 The provision, as calculated by the charity, is still short of the actual provision requircd at 31 March 2024 of £187,651. The Trustees will continue to monitor the level of tenninal and operations reserves required in the future, recognizing that the provision may increase ovcr time due to inflation and employccs accruing increased redundancy entitlements with the passing of time.
WOKINGHAM & DISTRICT CITIZENS ADVICE BUREAU TRUSTEES, ANNUAL REPORT YEAR ENDED 31 MARCH 2024 -continued- Investment Policy Aside from retaining a prudent amount in reserves each year most of the charity's funds are to be spent in the short tcnn so there are few funds for long tern] investment. PLANS FOR FUTURE PERIODS The charity plans to continue the activities outlined above in the forthcoming ycars subject to satisfactory funding aangementS. Wokingham Borough Council will provide the necessary funding to meet these ongoing costs. Based on budgets for 202412025 the charity is projected to break cven in the financial year. RESPONSIBILITIES OF THE TRUSTEES Company law and charity law requires the tSteeS to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the surplus or deficit for the period. In prcparing financial statements, the trustees are required to.. select appropriate accounting policies and then apply them consistently; observe the methods and principles in the Charities SORP. make judgements and eslimates that are reasonable and prudent" state whether applicable accounting standards have been followed and explain where they have not been followed" and prepare the financial statements on the going conccm basis unless it is inappropriate to presume that the charitable company will continue in operation. 'I'he trustees arc also responsible for keeping proper accounting records wkn'ch disclose with reasonable accuracy at any time the financial position of Wokingham & District Citizens Advice Bureau and to enable them to ensure that the financial slatements comply with the Companies Acts 1985 to 2006. The trustecs are responsible for ensuring that the company maintains an adequate system of internal control designed to provide reasonable assurance that asscts arc safeguarded against material loss or unauthorised use and to prevcnt and detect fraud and other irregularities. In accordance with company law, as the company's trustees, we certify that: so far as we are aware, there is no relevant infonnation to which the company's examiner is unaware. and as the trustees of the company, we have takcn all the steps that wc ought to have taken in order to make ourselves aware of any relevant inforn]ation and to establish that the charity's examincr is aware of that infonnation.
WOKINGHAM & DISTRICT CITIZENS ADVICE BUREAU TRUSTEES, ANNUAL REPORT YEAR ENDED 31 MARCH 2024 -continued- BASIS OF PREPARATION This report has bccn prepared in accordance with Accounting and Rq)orting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK (FRS 102). Approved on behalf of the Board of TNstees . October 2024. Ms NS Lynam- rustcc I report to the trustee on my cxamination of the fllwicial statements of Wokingham Citizens Advice Bureau ("the charity") for the year ended 31 March 2024. Responsibilities and basis of report The trustees are also the directors of the company for the pUoseS of company law are responsible for the preparation of the financial statements. The trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed. The charity's gross income exceeded £250,000 and l am qualified to undertakc the examination by being a qualified member of the ACCA. Having satisfied myself that the charity is not subject to audit under company law and is eligible for independent examination, it is my responsibility to: examine the accounts under Section 145 of the 201 l Act. to follow the procedures laid down in the general Directions given by the Charity Commission under section 145{5)(b) of the 2011 Act. and to state whether particular matters have come to our attention.
io WOKINGHAM & DISTRICT CITIZENS ADVICE BUREAU INDEPENDENT EXAMINER'S STATEMEIYT YEAR ENDED 31 MARCH 2024 Independent examiner s statement Since the charity's gross income exceedcd £250,000 your examiner must bc a member of a body listed in section 145 of the 2011 Act. I can confinn that I am qualified to undertake the examination because I am a member ot.the Lhartered Institute of Public Finance and Accountancy, which is one of thc lisL¥d buLIicèTr. I have completed my examination. I confirn] that no matters have come to my attention in connection with thc examination giving me cause to believe: accounting records were not kept in respect of the charity as required by Section 386 of the Act 2006. or the financial statements do not accord with those records. or the financial statements do not comply with the accounting requiremcnts of section 396 of the 2006 Act other than the accounts give a 'true and fair, view which is not a mattcr considered as part of an independent examination.. or the financial statements have not been prepared in accordance with the methods and princtples of the Statement of Recommendcd Practkce for accounting and reporting by charities applicable to charitics preparing thcir accounts kn accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enablc a proper understanding of the accounts to be rcachcd. Julie Tattcrsdill CPFA Independent Examiner . October 2024
10 WOKINGHAM & DISTRICT CITIZENS ADVICE BUREAU INDEPENDENT EXAMINER'S STATEMENT YEAR ENDED 31 MARCH 2024 -continued- Independent examiner's statement Since the charity's gross income exce¢ded £250,000 your examiner must be a member of a body listed in section 145 of the 201 l Act. I can confirm that l am qualified to iindertake the examination because l am a member of th¢ Chartered Institute of Public Finance and Accountancy, which is one of the listed bodies. I have Completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe: accounting records were not kept in respect of the charity as required by Section 386 of the Act 2006; or the financial statements do not accord with those records; or the financial stateinents do not comply with the accoiinting requirements of section 396 of the 2006 Act other than the accounts give a 'true and fair, view which is not a matter considered as part of an independent examination: or the financial statements have not been prepared in accordance wilh the methods and principles of the Stalement of Recommended PCtiCe for accoiinting and reporting by charittes applicable to Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) I have no concerns and have coine across no other matters in connection with the examination to whicli attention should be drawn in this report in order lo enable a proper understanding of the accounts to be reached. Julie Tattersdill CPFA Independent Examiner 21.... October 2024
WOKINGHAM & DISTRICT CITIZENS IIDVICE BUREAU STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2024 Unrestricted Funds Restricted Funds Total Funds 31 March 2024 2023 Note INCOME AND ENDOWMENTS Donations and legacies Charitable activities Investment income 8,529 278,189 3,002 8,529 548,007 3,002 3,446 531,161 2,077 269.818 Total income 289,720 269,818 559,538 536,684 EXPENDITURE Expenditure on charitable activities Expenditure on raising funds 286,886 1,880 268,062 554,948 1,880 526,813 205 Total expenditure 288,766 268,062 556,826 527,018 NET INCOME 954 1,756 2,710 9,666 Actuarial gains/{losses) on defined benefit pension scheme 34 Transfers between funds 1,756 (1,756) Net movement in funds 2,710 2,710 9,700 RECONCILIATION OF FUNDS Total funds brought forward 118,867 118,867 109,167 Total funds carried fonvard 121,577 121.577 118,867 The Statement of Finallcial Activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing actÉvities. The notes on pages 14 to 21 fom] part of the statutory accounts
12 WOKINGHAM & DISTRICT CITIZENS ADVICE BUREAU STATEMENT OF FINANCIAL POSITION FOR THE YEAR ENDED 31 MARCH 2024 2024 2023 Note FIXED ASSETS Computer Equipment 2,076 CURRENT ASSETS Debtors Cash at bank and in hand 13 14,032 236,248 6,996 257,762 250,280 (129,491) 264,758 (144,603) CREDITORS: amounts falling due within one year 14 NET CURRENT ASSETS 120,789 120,155 TOTAL ASSETS LESS CURRENT LIABILITIES Defined benefit pension plan liability 122,865 (1,288) 120,155 (1,288) NET ASSETS INCLUDING DEFINED BENEFIT PEIYSION PLAN LIABILITY 121,577 118,867 FUNDS OF THE CHARITY Rcstricted funds Unrestricted fund - Designated fund - General fund 121,577 118,867 TOTAL CHARITY FUNDS 17 121,577 118,867 For the year ended 31 March 2024 the charity was entitled to exemption from audit under Section 477 of the Companies Act 2006 rclating to small companies. Trustees, responsibilities: The members havc not required the charity to obtain an audit of its financial statements for the year in question in accordance with Section 476. The trustees acknowledge their responsibilities for complying with the requircmcnts of the Act with respect to accounting rccords and the preparation of fmancial statements. Thesc financial statements havc been prepared in accordance with the provisions applicable to companies subject to the small companies regime. These financial statctnents were approved by the Board of Trustees on ..a.().. October 2024 and signed on its behalf by: Ms A Deller - Trustee Company Registration Number: 02862148 The notes on pages 14 to 21 fonn part of the statutory accounts.
13 WOKINGHAM & DISTRICT CITIZENS ADVICE BUREAU STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2024 2024 2023 NET INCOME FOR THE REPORTING PERIOD 2,710 9,666 Capital expenditure Decrease/(Increase) in debtors Increase/(decrease) in creditors Pension funding in excess to net income (2,076) {7,036} (15,112) 8,804 76,202 (700) CASH FLOWS FROM OPERATING ACTIVITIES (21,514) 93,972 Cash and cash cquivalents at the beginning of the year 257,762 163,790 CASH AND CASH EQUIVALENTS THE END OF THE YEAR 236,248 257,762 The notes on pages 14 to 21 fomi part of the statutory accounts.
14 WOKINGHAM & DISTRICT CITIZENS ADVICE BUREAU YEAR ENDED 31 MARCH 2024 NOTES TO THE FINANCIAL STATEMENTS GENERAL INFORMATION The charity is a private company limited by guarantee, registered in England and Wales and a registered charity in England and Wales. The address of the registered office is: Waterford House Erftstadt Court Wokingham Berkshire RG40 2YF STATEMENT OF COMPLIANCE These financial statemcnts have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland,, the Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Rcporting Standard applicable in thc UK and Republic of Ireland {FRS 102) (Charities SORP (FRS 102)) and the Charities Act 2011. ACCOUNTING POLICIES Basis of preparation The financial statements have been prepared on the htstorical cost basis. The financial statements are prq)ared in sterling, which is the functional currency of the entity. Monctary amounts in thc8c financial statementa are rounded to the n&rt £. Going concern The trustees have reviewed risks to the charity and conclude that for the foreseeable future the charity will have sufficient resources to meet its liabilities as they fall due. Fund Accounting Unrestricted funds are available for usc at thc discretion of the trustees to further any of the charity's purposes. Designated funds are unrestricted funds earmarked by the trustees for future commitments. Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the company for specific purposes. The costs of raising and administering such funds are charged against the specific fund. Transfers from restricted funds are only allowed where the contract provides specific pemiission.
15 WOKINGHAM & DISTRICT CITIZENS ADVICE BUREAU YEAR ENDED 31 MARCH 2024 NOTES TO THE FINAINCIAL STATEMENTS -continued- ACCOUNTIIYG POLICIES (continued) Incoming Resources All incoming resources arc included in the statement of financial activities when the charity is entitled to the fLmds and the amount can bc measured with reasonable certainty. Income is deferred only when the charity has to fulfill conditions before becoming entitled to it or where the donor has specified that the income is to be expended in a future period. Voluntary Income is received by way of grants, donations and gifts, including gift aid income where applicable, and is included in the statement of financial activities when receivablc. Income from grants, where related to perforniance and specific deliverabEes, are accounted for when it is probable that the income will be received and the amount can be measured reliably. Legacy income is re£ognised when receipt is probable and entitlement is established. Income from donated goods is measurcd at the fair value of the goods unless this is impractical to measure reliably, in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contribution of general volunteers. Resources Expended Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which CaT0t be fully recovered and is classificd undcr headings of the statement of financial activities to which it relates: Expenditure on raising funds includes the costs of all fundraising activities, events, non- charitable trading activitics and the sale of donated goods. Expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that furthcr its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charily apportioned to charitable activities. Other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities. Expenditure in respect of sundry capital equipment is fully charged in the year of purchase in accordance with the charity's policies. All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity arc allocated directly to that activity. Shared costs arc apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis. Financiydl instruments The charity only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties and loans to related parties.
16 WOKINGHAM & DISTRICT CITIZENS ADVICE BUREAU YEAR ENDED 31 MARCH 2023 NOTES TO THE FINANCIAL STATEMENTS -continued- ACCOUNTIIYG POLICIES (continued) Financial instruments (continued) Debt instruments are subsequently measured at amortised cost. Financial assets and liabilities are otlset and the net amount reported in the ljalance Sheet when there is an enforceable right to set off the recognised amounts and thcre is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. Defined benefit and defined contribution plans The charity operated both a defined benefit pension scheme and a defined contribution scheme. The defined benefit scheme is closed to new employees. Employer contributions in respect of the defined contribution scheme are charged to Staff Costs as they become payable in accordance with the rules of the scheme. The company recogniscs a defined net benefit pension asset or liability in the statement of fmancial POSltion as the net total of the present value of its obligations and the fair value of plan assets out of which the obligations are to be settled. The defined benefit liability is as advised by the scheme provider on an annual basis. Changes in the net defined benefit asset or liability arising from employee servicc are recognised in income or cxpcnditure as a current service cost where it relates to services in the current period and as a past service cost where it relates to services in prior periods. Costs relating to plan introductions, benefit changes, curtailments and settlements are recognised in income or cxpcnditure in thc period to which they occur. CHARITABLE COMPANY LIMITED BY GUARANTEE The charity is a company limited by guarantee and has no share capital. DONATIONS AND LEGACIES Unrestricted Fund5 Restricted Total Funds Funds 31 March 2024 2023 General donations 8,529 8,529 3,446
17 WOKINGHAM & DISTRICT CITIZENS ADVICE BUREAU YEAR ENDED 31 MARCH 2024 NOTES TO THE FINANCIAL STATEMENTS -continued- CHARITABLE ACTIVITIES Unrestricted Funds Restricted Total Funds Funds 31 Mar 2024 2023 Grants receivable from: Wokingham Borough Council (WBC) 161,738 Premises rent waived by Borough and Town Councils Wokingham Town CouncRI Woodley Town Council Earley Town Council Local Parish Councils WBC - Volunteer Coordinator WBC - Ukraine response Ncwbury Building Society Volunteer Coordinator Wokingham United Charities (WUC) The Mobbs Memorial Trust Volunteer Coordinator WBC - One front door/hardship fund WBC - Debt advisor project Berkshire NHS Foundation Trust project Citizens Advice - Universal Support project Citizens Advice -MaPS project Citizens Advice -Technology grants WUC - Hardship fund support WUC - Home visit projcct Berkshire Cornmunity Foundation (BCF) CLASP support MSE - CLASP support Mobile advice unit - various funding The National Lottery Community Fund Advice Task Force project Citizens Advicc -Energy Advice Miscellaneous 161,738 151,157 38,000 10,000 7,000 2,500 8,953 38,000 10,000 7,000 2,500 8,953 38,000 10,000 7,000 2,000 13,786 15,000 10,000 5,000 3,900 2,000 120,156 35,000 30,372 4,637 6,310 1,188 8,000 12,917 117,443 26,209 43,570 117,443 26,209 43,570 8,100 8,100 17.116 17,116 1,020 1,020 3,223 4,808 18,336 22,049 22,049 20,592 20,592 38,431 25,286 38,431 3,980 21,306 28,371 Total grants and other income 278,189 269,818 548,007 531,161 INVESTMENT INCOME Unrestricted Total Funds Unrestricted Total Funds Funds 2024 Funds 2023 Bank intercst receivable 3,022 3,022 2,077 2,077
18 WOKINGHAM & DISTIUCT CITIZENS ADVICE BUREAU YEAR ENDED 31 MARCH 2024 NOTES TO THE FINANCIAL STATEMEIYTS -continued- EXPENDITURE ON CHARITABLE ACTIVITIES Unrestricted Funds Restricted Total Funds Funds 31 March 2024 2023 St&ff costs: Wages and salaries Employcr's National Insurance Employer's pension contributions 72,435 4,073 4,194 228,370 13,317 18,531 300,805 17,390 22,725 352,588 20,496 15,839 80,702 260,218 340,920 388,913 Support costs: Staff and volunteer expenses Premises service charges Premises rent waived Central Citizens Advice support costs Meetings Telephone Postage and stationery Photocopier costs Computer equipment, support and maintenance Sundries WUC - Home visit project Bcrkshirc NHS Foundation Trust project Mobile advice unit Citizens Advice- Energy Contract 3,725 10,423 38,000 6,924 86 3,013 2,286 2,946 3,725 10,423 38,000 6,924 86 3,013 2,286 2,946 1,341 10,061 38,000 5,772 1,264 7,562 1,173 2,544 908 1,069 908 2,611 210 3,448 ?? 1,542 210 1,299 83 5,392 4,548 1,544 4,548 1,544 69,380 7,844 77,224 87,979 Governance costs: General office wages costs Staff training Accountancy fccs and payroll costs Legal and professional Subscriptions Insurances Fundraising costs 37,906 5,201 1,773 84,297 5,380 2,247 1,880 37,906 5,201 1,773 84,297 5,380 2,247 1,880 34,927 1,039 3,138 6,891 1,940 1,986 138,684 138,684 49,921 288,766 268,062 556,828 526,813
19 WOKINGHAM & DISTIUCT CITIZENS ADVICE BUREAU YEAR ENDED 31 MARCH 2024 NOTES TO THE FINANCIAL STATEMENTS -continued- EXPENDITURE ON RAISING FUNDS Unrestricted Funds Total Funds Unrestricted Totydl Funds 2024 Funds 2023 Fundraising costs 1,880 1,880 205 205 10. INDEPENDENT EXAMIIYATION FEES 2024 2023 Fees payable to the independent examincr for: Independent examination of the financial statement 1,650 11. STAFF COSTS The total staff costs and employee benefits for the reporting period are analysed as follows: 2024 2023 Wages and salaries Tern]ination payment Social security costs Employer contributions to pension plans 330,149 2,660 19,204 24,914 371,101 12,500 22,341 17,899 376,927 423,841 The average head count of employees during the year was 21 (2023: 21). No employees received employee benefits of more than £75,000 during the year (2023: 1). Included in unrestricted professional fees are payments of £76,950 (2023:Nil) relating to intcrim CEO costs. The position of CEO has been filled on a permanent basis since May 2024. 12. TRUSTEES REMUNERATION AND EXPENSES No remuneration was paid to trustees during the year (2023: Nil). No expenses wcre paid to trustees during the year (2023: Nil).
20 WOKINGHAM & DISTRICT CITIZENS ADVICE BUREAU YEAR ENDED 31 MARCH 2024 NOTES TO THE FIINANCIAL STATEMENTS -continued- 13. DEBTORS 2024 2023 Trade and other Debtors Prq)aymcnts and accrued income 1,386 5,610 14,032 14,032 6,996 14. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 2023 Accruals and deferred income Social security and other laxes Other credilors 120,694 6,463 2,334 141,496 3,107 129,491 144,603 15. PENSIONS AND OTHER POST RETIREMENT BENEFITS 2024 2023 Defined contribution plans Contributions paid 24,914 17,072 Defined benefit plans Amount paid in respect of chargcs and knterest on deficit 37 24,914 17,109 Defined benefit plans Actuarial gain 34 16. DEFERRED INCOME 2024 2023 Balance as at l April Amount releascd to incoming resources Amount deferred in the year 134,365 (134,365) 113,079 48,478 (48,478) 134,365 113,079 134,365
21 WOKINGHAM & DISTIUCT CITIZENS ADVICE BUREAU YEAR ENDED 31 MARCH 2024 NOTES TO THE FINANCIAL STATEMENTS -continued- 17. MOVEMENT IN FUNDS At l April 2023 Incoming Outgoing resources resources Other At 31 March Transfers 2024 and gains Unrestricted funds Designated funds.. Terniinal Liabilities and Operations fund 118,867 1,756 121,577 Total unrestricted fund 118,867 289,720 (288,766) 1,756 121,577 Restricted funds 269,818 {268,062) (1,756) Total funds 118,867 559,538 (556,828) 121,577 Unrestricted funds comprise those funds which the members are free to use in accordancc with the charitable objects. Purpose of designated funds The Tern]inal Liabilities and Operations fund is to cover the operational costs in the event that current funding ceased and to cover the cost of any liabilitics arising from the terniination of activities. Purpose of restricted funds Restricted funds relate to monies received for a specific purpose. Any balance is primarily due to timing differences betwcen realisation of restricted income on a deferred basis and associated costs. 18. TAXATION As a charity, Wokingham & District Citizens Advice Bureau is exempt from tax on income and gains falling within section 478 of the Corporation Tax Act 2010 or s256 of the Taxation of Chargeable Gains Act 1992 to the extcnt that these are applied to its charitable objects. No tax charges have arisen in the charity. 19. RELATED PARTY TRANSACTIONS There were no related party transactions during the year (2023: £nil) 20. CAPITAL COMMITMENTS There were no capital commitments at 31 March 2024 (2023.. £Nil).