Charfty r•gl8tration number 1039776 Company registration numbèr 2946921 IEngland and Wal•$l CITIZENS ADVICE PORTSMOUTH ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023
CITIZENS ADVICE PORTSMOUTH LEGAL AND ADMINISTRATIVE INFORMATION Tru$te•8 S Nienattowski L Burton A Cullen R Emmerson K Richardson R Townsend M Wade S Dhana T Little A Gilbert P Brook E Drum {Appointed 12 April 20221 Secretary K Richardson Charity number 1039776 Company nurnr 2946921 Registered oifice Units 2-3 Ark Royal House n$lon Churchill Avenue Portsmouth Hampshire P01 2GF AudStor Jones Avens Lirnited Piper Housè 4 0uk$s Court 8ognor Road ChKhesteT West Sussex P019 8FX Bankern National sIminSter Bank PIC First floor Bay House North Harbour Business Park Portsmoulh Hanls P06 4RS Solicitor¥ Bates Wells & Brarthwaite Cheapside House 136 Cheapsde London EC2V 68B
CITIZENS ADVICE PORTSMOUTH CONTENTS Pago Trustees. report Independent auditorfs report Statémènt of finanrial activities 10 8alanee sheet 11 Statement of cash flows 12 Notes to the financial statements 13-24
CITIZENS ADVICE PORTSMOUTH TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORT) FOR THE YEAR ENDED 31 MARCH 2023 The trustees present their annual report and financ481 statements for the year ended 31 March 2023. The finandal statements have been prepared in accordance with the accaunting policies set out in note 1 to the financial statèments and comply with the tharity's governing docuTnenl. the Companies Act 2006 and "A¢counting and Reporting by Charities.. Stalement of Re¢ommended Practice applicable lo Charities preparing their accounts In accordance wth the Finanaal Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021" leffecth've l January 20191. Objectiv•s and a¢tivitl•s The Charty's obje¢ts are to prornote 8ny charitable purpose for Ihe public benefrt by Ihe advaftcemenl and provision of free {in mst cases). independent, confidential and impartial infornation Ènd advice, to people on their rights and responsibilrties which en8ble the public lo have the knowledge and confidènce they need to find a way fOard whoever they are and whatevef their problem may be. OUT seTViCé is designed to work for 8 f8ngè of needs, induding those with the most complex problems to those that are sm811. but equalty important to Ihat indi)ridual. We do so lor the benefit ol the community of Portsmouth and the surToundin9 area, recognising that dwwsity, equalty and Indusion are al the corè of our objectives is promoted. All members of Citizens Advice nètwork share Ihe same aims.. To promdè the advice people need for the problems they fac To improve the policies and pra¢bces that affect pèople's lives The ttustees have p8id k1ue regard to guidance issued by the Charily Cornmission in deuding what 8rtiwties the c*arily should undertak¢. Contributlon of Voluntèèrs We receive help and support in the form ol volunteers who provide advice, infomation and guidanc8 to dienls, but also contribute to various other aspeds of administering Ihè charity. In 2022123 CAP benefitèd from contribution Of 62 volunteers acTOSS our s¥Mces, representing a value of volunteering hours 224 on average equalling £203,650. Our continual investment in volunteer development ensures our clients receive quality advice and support. It also has tangible benefits for voluntèers and wider soryety. through happier, heahhier and more productive cjtizens. This is an additional ben•fit to society. through the way Citizens Advice delivers its service. The main finanaal arguments cover the public value created through enabling local nelwort volunteers lo". Move into work through the experience and confidence gained during their lime at a local Citvzens Admce. Develop skills that can lead to better salaries and employment prospects. Belter mallagé mental health conditions. such as depression. Improve seff-esteem, reduce isolation and increased ability lo get on. Improve ctsmmunrty relationships, through incrèased communty trust and promote a sense of belonging by w01ng with local people. Achièvements and rfQnnance In 2022123. we aided 13,223 dients, addressing a total of 55,848 advice issues. Our efforts yielded impressive ouicomes for our clients, induding. Securing £4.1 million in financial gains through welfare benefits and debt write-offs. Assisting clients in reeovering £112,407 in backdatedlappealed benefits. with an average bènefft of £6,886 per client. Enh8neing the health and capacity to manage for 5,570 client$, resulting in a total benefit of £633,225. averaging £114 pèr dienl. Generab'ng ovei £2 million in additional income for dients ihrough increased benefits and tax credits, with an average gain of £4,979 per dient. Providing clients with fuel vouchets totalling £2,718. averaging £42 per client. Supporting clients who were not liable for debt. totalling £49.596, with an average r8solution of £2,610 per dient.
CITIZENS ADVICE PORTSMOUTH TRUSTEES. REPORT {INCLUDING DIRECTORS, REPORT) (CONTINUED} FOR THE YEAR ENDED 31 MARCH 2023 We supported individuals and families at greatest risk of crisis. 1.103 of ejients were able to acLess our services Ma ourwebsite o)ntact fomi. 3,101 had a disability andlor long-term health Condrtion. 31 % of clients Mth mental health problems asked for help wilh energy issués. 37°A of dienls werè able to a(tess oui serwces via telephone. Our assistance has also played a significant role in alleviating londiness and reducing isolation. Our evidencè indi¢ate$ that every Interalon with us contributes lo an improvement in the we114)eing of our clients. In conclusion. we take great pride in sharing that during the 2022123 period, an impressive 95°A of our cJJsiomers rated our overall support as either good or excellent. Factots Aff¢¢ting the Achievement of Obj*¢tfiv•s In 2022r23. Portsmoulh City Coun¢il relendered for the City's advice seNce and despite s¢orlng an impressive 92.4°A for our submission. we were unsuccessful. So. we continue to lace the challenge of hawng no lunding for our core work. Ifs worth noting that we arè one of very few Citizens Advice cenlres across the country that do not receive finan¢ial 5UPPOrt lor offering genèralist advice. Despite this financial constraint, the residenls of Portsmouth still choose to seek assistance from Citizens Advice Portsmouth. They Tecognise our organisation a$ a trusted expert in the field. and we ale the only quality-marked generalist advice service available in the city. Our cornmitment lo not luming away individuals in need Is paramount. 11 is our duty to ensure that they do Th)1 experience any detriment. Moreover, we must also consider the potential harm to our excellent reputation rf wè were to tum people away. Therefore. we persist In providing an unfunded generalist adwce service, relying on the dedication and support of our volunteers. Throughout the year 20223, we lake pridè in having prowded essential support to addTe55 more than 50°k of the city's advice nèèds through our unfunded seNce. However, we ad(nowledge that our dedicalh)n and coxnmitment to those seeking our assist8nce unintentionalty contributes to the incumbent prowde¢s abilty to deliver their funded serwce. This, in ium, affect5 our capacity to secure funding lor our own services. Our remarkable 8ccomplishments can be attributed to the outstanding leadership team we have in place and the unwavering commitment and expertise of our team members. They wholéheartedly align wrth the organisation's 0.CtIveS and work tirelessly lo achieve them. Financlal revlow ncial P The trustees report incoming resources for thè yÈAr of £1,259,428 {2022.. £878,072). Of this £1,192,941 12022". £865.8691 related to project resiricted actiwties. The charity does not carry out any significant public fundraising athvilies. Nel OLrtgoing resources in the year amounted to £14,195 12022 net expenditure of £96.410I. AI 31 Mard) 2023 reserves wefe £346,581 of which £69,236 represented rèstricted fvnds. 11 is the policy of the ¢harity that unrestricted funds which are not represented by fixed assets or have not been designated for specific use should be maintsined al a level equivalent to beeen 34 wnonths exp¢nditure. Thè trustees considèr that reserves at this level will ensure Ihat. in the event of a significant dfop in funding, they will be able lo continue the charity's current a¢tiwties while consideration is given lo ways in whi¢h addits'onal fijnds may be raised. Thesè ieserves at 31 March 2023 stood at £346,581, which is comfortably within this range. Plans ftsr futuro perlod# Our locus as we move into 2023124 wll be to increase ihe diversty of our funding streams. Wth a particularty focus on increasing our LJnres1red funding streams through èxploring fundraising and the initial development of second 8QC4al enterprise.
CITIZENS ADVICE PORTSMOUTH TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 Structure, govomanc• and management The charity is a company limited by guarantee and was fomied on 8 July 1994. It Is govemed by its Memorandum and Artides of Assoaatitsn as amended on 5 November 2[2, and 4 November 2011. Thè name of the charity was fomally changed from Portsmuth Citizen's Advice Bureau to Citizens Advice Portsmoulh on 19 December 2017 to fle¢t the name that Ihe charity is usually known by. The trustees, who are also the directors for the purpose ol company law, and who servèd during the year and up to ihe date ol signature of Ihe financial statements were.. S Nienallowski L Burton A Cullen R Eade R Emmerson K Rithardsan A Stèvens R T¢)wnsend T Watrnough M Wade S Dhana r Lrttle A Gilbert P Brook E Drum (Resignèd 1 July 20231 (Resigned 10 O¢tober 20221 {RÈsigned 18 September 20231 IAppoinled 12 April 20221 Tnjstees are elected from Iha membership of the charity. Members wishing to sland as Trustees are nominated by an existing Trustee and names are put fonard at the Annual General Meeting for election. The maximum number of Trustees sh811 be 15 and the minimum shall be 3, béing either.. 31 elected at the Annual Gener81 Meeting Ithere being no more than ten such eleded Trustees in telall and who sh811 hold office Irom the conclusion of that meeting", Or bl Co-opted by the Trustee Board Newly appointed Trustees are provided with a rMPh2nsive induction to the charity through the provision of training rUrse$ and mentoring by established Trustees. In addition lo Tnjstees. the Charity may admlt into member5hip'. al individuals lover Ihe age 0118 years) who are interested in furthering the work of the Charlty and who are not paid or volunteer workers of the Charity", and bl any body corporate Of unincorporated assocjation which is interested in lurthering the Chafitys and is admitted to membership by the Trustees lat)y such bo¢Jy being called a'member organisatson,). The Trustee Board may establish criteria for membership and make regulations goveming the admissK)n (rf membÈrs. Overall eA)ntrol of the d)arty rests with thè Trustee board, with a chairperson. treasurtsr and corrpany 8ecre¢ary as officers. Trustees meet as a rninimum 4 times a year Iquarterfyl but review and meet as required with additional mèetings organised in accrjrdancé with the company artides. The Trustees delegate da*tO-day organisational management lo the Chief Officer. The Trusteè Board is independent frorn management. A r¢gister of members, interests is maintained at the registered Offi and is available to the public.
CITIZENS ADVICE PORTSMOUTH TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 te Cilizen5 Advice Portsmouth is an independent charity that 1$ a member of Citvzens Admce Ilrading name of the National ASSoallon of Citizens A1Ce). which provides a frarnework for standards of advice and casework management as well as monitoring progress against these standards. Operating policies are independently determined by the Trustee Board of Citizens advice Portsmouth in order to fulfil ils chanlable ObltS and comply with the national membership fequiremenls. The Ch8rty operates from its head office * Ark Royal House. The trustees have developed a framework with dèfined risk appetites aligned lo Ihe Chanty Commissons 'Charities and nsk management, guidance. The primary risk remains in relalion to Departrnent for Work and Pensions IDWPI seNi¢es IHelp to Claim and Monèy Admcel which remains a risk in part due to societal changes and inueasing demands on setvicE delivery. Mitigatson plans remain in place and are regularfy remewed., induding thè ¢onlinuing rn0 toward diversifi¢alion of services. Citizens Advice Portsmouth are responding lo the risks assoaated with soryelal challenges and increasing needs, most notably in respect to debt and mental health concems through dirÈct advic£ and Collaboration with partners across the aty. Statement of trust••s' r•span$ibilities The Iwslees. who are also the direclofs of Citizens Advice Portsmouth for the purpose of ex)mpany law. are responsible for preparing the Trusteés. Report and thè financial statements in accordance wrth applicable law and United Kingdom Accounting Stsndards (United Kingdom Generalty AccApted Accounting Practice). Company Law requires the trustees to prepare finanaal statements for each finan£yal year whi¢h gwe a true and fair Mew of the state of affai of the Charity and of the incoming resources and application of resources. induding Ihe income and expenditure, of the Charitable company for Ihal yeai. In preparing these finanual statements, the trUee$ are required to.. select suitable acLxxJnling pdiaes and then 8pply them consislenuy,. - observe the methods and princ4ples in the Charilies SORP., make judgements and estimates that are reasonable and prudent., and prepare the financial slalements on the grAng coneÉm basis unless it is inapproprtate to presurre that th¢ charity will continue in operation. The trustees are responsible for keeping adequate ac£ountlng records that disclose with reasonablè accuracy ai any time the financial position of the charity and enable them to ensure that the finanaal statements cornply with the Companies Act 2006. They are also responwble for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud 2nd other irregularities. Auditor In accA)rdance with the companys articles. a resolution proposing thal Jones Avens Limited be reappointed as auditor of the company will be put at a General Meeting.
CITIZENS ADVICE PORTSMOUTH TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 The INslees' report was approved by the Board of Trustees. S Nienallow5ki Trusts¢ Daté.
CITIZENS ADVICE PORTSMOUTH INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF CITIZENS ADVICE PORTSMOUTH Oplnion We have audited the finanual statements of Citszens Admce Portsmouth (the '¢harity'l for the year ended 31 IA8rd) 2023 which comprise the statement of finan¢ial actiwlies. the balance sheet, the statement of CAsh flows and notes to the finanaal statements. including significant accounting policies. The financial reporting framework that has been applied in their preparion is applicable law and United Kingdom Accounting Standards, induding FinanrJ81 Reporting Standard 102 The Financial Reporting StandaKI applicable in the UK and Republic t)1118nd (United Kingdom Generally Accepted Accounting Pra¢li¢el. In our opinion, the financial siatements.. give a true and fair view of the state of the charitable company's affairs as at 31 March 2023 and of its incoming resources and application of resources, for thè yèar then ended., have beèn propedy prepared in accordance wilh United Kingdom Generalty Awpted Accounting Practi., and have been ppared in ae¢ordan¢e with the requirements of the Companie5 Act 2006. Basis for opinion We Conducted our audit in accordance with Intemational Siandards on Audrting lu (ISAS IUKII 8nd applicabl8 law. Our responsibilities under those standards are further described in the Auditoffs responsibtlAties for the audit of the financial statements section of our report. We are independènt of the charity in accordance wilh the ethical requirements that are relevant to our audit of the financial statements in the UK, induding the FRC'S Ethical Standard, and we have fuffilled our other elhical responsibilitiès in accordance with these requirements. We believe that the audit evidence we h8ve obtained is suffiaent and appropriate to prowdè a basi$ for our opinion. Conelu$lon$ relatin4 to going COnM In auditing the financial Statements. we havè concluded that the trustees, use of the going concem basis of ac¢ounting in the preparation of the financial stalements is appropriate. Based on the work we have perfomied, we have not identified any merial uncertainties relating lo events or conditions that, indiwdu8lly or collectively, may ¢8sl signfficant doubt on the tharity's ability to continue as a going Concern for a period of at least fv4elve months from when the ffinancial statements are aulhorised for issue. Our responsibilitie5 and the responsibilities of the trustees with SpeCt to going ¢oncem are described in the relevant sections of this report. Other infomation The other inforniation comprises the information induded in the annual report other th8n the finala1 slalements and our auditorfs rèport Ihereon. Thè trustees are responsible for the olher infomiats.on contained wrthin the annual report. Our opinion on the finanryal statemenls doès not CL)ver the oth8r information and we do not express any fomi of assurance condusion thereon. Our responsibility 15 to read the other information and, in doing so, consider whether the other infom)abon Is malerialty inctsnsislent with the financial statements or our knowledge obtained in the course of the audit. or othewse appears to be materialty misststed. If wè identify such malerial inconsisleneies or apparent material misstatements, we are required to detemiine whelher this gives rise to a materol misstatement in the finanaal statements thèmselves. If, based on the work we have perfomied, we condude that there is a material misststement of this other infomiation, we are required lo rèport that faci. We have nothing to report in this regard. PAatter5 on whlch we are requlred to report by excgptlon We have nothing to report in respeca of the following matters in relation to whKh the Charities {Accounls and Reports) Regulations 2008 require us to report to you rf, in our opinion.. the Infomiation given In the financial ststements is inconsistent in any material respe with the trustees. report., or suffiaent accounting CordS have not been kèpt,. or the finan(xal statemenis are not in agreemènt with the accounting records", or we have not received all the Infrjmation and explanations we requice for our audlL
CITIZENS ADVICE PORTSMOUTH INDEPENDENT AUDITOR'S REPORT (CONTINUED TO THE TRUSTEES OF CITIZENS ADVICE PORTSMOUTH Ro$ponslblllties of trustses As explained more fully in Ihe staternenl of trustees, responsibilities. the Iwslee5, who are also the directors ol the charity for ihe purpose of company law, are responsible for the preparation of the finanual $13temenls and for being satisfied that they give a true and fair wew, and for such intem81 control as the trustees deterrnine is necessary to enable the prèparation of financial statements that are free from material mi5Stalement, whether due lo fraud or error. In preparing thé finanual slalements: thè trustees are responsible lor assessing the charity's ability to continue as 8 golng concern, disclosing, as applic2ble, matters related to going ¢on¢em and using the going ncern basis of acctsuntin9 unless the trustees either intènd to liquidate the tharilablè company or to cease ¢)pèrations, or have no realistic altemative but to do so. Auditorfs SponsIbl11t6¢s for the audit of the financial statgments We have been appointed as auditor under section 144 01 the Charities Act 2011 and report in accordance with the Act and relevanl regulations made or hawng effect thereunder. Our objectives are to obtain reasonable assurance al)out whether the financial statements as a Wha arè frèe from material misstatement, whether due to Iraud or error. and to issue an 8udilo¢s report that includes our opinion. Reasonable assuranc£ is a high level of assurance bul is not a guarantee that an audil conducted in acc4)rdance with ISAS IUKI will alayS delect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, indiwdually or in the aggregate, they could reasonably be expected to inlluen¢e the economi¢ decisions of users taken on the basis of these financial statements. Identification and assessment of irregularities includlng fraud Irregularities, induding fraud, are instances ol non-compliance wrth laws and regulations. We designed proCedreS in line with our responsibilitiès. outlined above. lo detect material misstatemenls in respect of irregularities, induding fraud. The eylent to whith OUT procedures were capable of detecting irregularimes, including fraud is detailed below.. we locusÈd on speufic laws and regulations whid) we considered may havè a direci material èflect on the finanaal statements or the operations of the charity, induding The Charitiès Act 2011,. we obtailled an understanding of the legal and regulalory framework applicable to the enlty and how Ihe entity is cornplying with that framework by making appropriate enquiries of managernent as well as considering the internal controls in place lo mitigate risk5 of fraud and non-compliance with laws and regulations., wa made enquiriès of those charged with govemance and management conceming.. the risks of fraud., inStanS of non-complian with laws and regulations or kno¥thedge of actual. suspected. or alleged fraud is documented during the period., we allocated an engagemenl learn that we Considered collectively had the appropriate tmpetence and capabilities to identify or recognise non-cornplian¢e with laws and regulations.
CITIZENS ADVICE PORTSMOUTH INDEPENDENT AUDITOR'S REPORT {CONTINUED TO THE TRUSTEES OF CITIZENS ADVICE PORTSMOUTH Audlt response to rlsks of Irr•gularltl•$ In¢ludlng fraud Based on the results of our risk assèssmènt, our pmcedures included, but were not limited to_. performing analytical prdureS lo identify any unusual or unexpected relationships. evaluating whether the selection and application of accounllng poliues by the entity that may be indicative of fraudulent financial reporting SU1n9 from management's effort to manage eamings. assessing whether judgements and assumptions made In delerminin9 the accx)unting estimates set out w) note 2 were indical've of potential bias. agreeing financi81 statement disdosures to undertying supporting documentation. reading the minutes of meetings of those charged with govemanca. revi8wing the corTe5pondence wrth relevant regulatory bo(lies. tesling of journal entries to address the risk of fraud through management override. incorporating an element of unpredtabilitY in the selecb'on of the nature, liming. and extent of our audit procedures. Conclusions regarding the rf8k of irregulariti•s including fraud There are inherent limitations In cmjr a¢Jdit procedurès described above. The more removèd that laws and regulations are from fin8neial Iransacth)ns, the less likely il is that we would become aware of non-complianc•. Material misstatements that arise duè to fraud can be harder to dèlect than those that arise from error as they may invofve deliberate cOnalment or collusion. We consideied oui audit was Capable of detecting irregularities due lo.. the effectiveness of the entty's internal controls; the nature, timing an4J extent of audit procedures perfomed-, and the absence ol ntradIC0ry ewdence. A further description Of our responsibilities is available on the Finanual Reporting Counal's website at.. https'.11 www.frc.org.ukl8udiiorsresponsibilities. This description fomis part of our audiloes report. Use of our report This report is made soldy lo the charity's trustees. as a body, in accordance wth pafl 4 of the Charitie5 IAccounts and Reports) Regulations 2008. Our audrt WLwk has been undertaken so that we might state to the charity's Iruslees those matters we are required lo stale to thern in an auditorfs report and for no other purpose. To the fijllest extent pemrtted by law. we do not accept or assume responsibility to anyone other than the tharity and the charity's truste8S as a body, for our audit work, for this report. or lor the opinions we have fc¥med.
CITIZENS ADVICE PORTSMOUTH INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF CITIZENS ADVICE PORTSMOUTH Clalr¢ NoTrwood Bsc FCA ATII Isenior Ststutory Auditor) for and on b•half of Jones Aven$ Limitsd 1111212023 Ch¥rt¢red A¢¢ountsnts ststLrtory Auditor per House 4 Dukes Court Bognor Road Chichester West Sussex P019 8FX Jonès Avens Limited is eligible for appointment as auditor of the charity by virtue of ils aligibility for appointment as auditor ol a company under section 1212 of the Cornpanies Act 2006.
CITIZENS ADVICE PORTSMOUTH STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2023 Unrestricted Restricted funds funds 2023 2023 Totsl Unrestricted Restrlcted lund8 funds 2022 2022 Total 2023 2022 Notes Donations and legacjes Charitable adivifies Investments Other income 12,104 46.430 1.885 5.OCQ 1.187.941 17.104 1,234.371 1.885 6,068 9,262 11,6391 2,580 9,262 864,230 2,580 885.869 Total incom• 66,487 1,192,S41 1,259,428 10,203 865,869 876,072 ChaTilable actiwties 61.797 1.211.826 1,273.623 9S3,948 972,482 Nèt ineominglloutgoingl r•#ources befo ts3nsfer5 4,690 118,8851 (14,1951 1.669 {98,0791 196,4101 Gross transfers beeen fvnds 111.3441 11,344 161,5531 61,553 N•t expendlture for the yearl Nèt movement in funds 16,6541 17,$411 {14.1951 159,8841 136,526) 198,410) Fund balances at 1 April 2022 283,999 76,777 360,776 343,883 113,303 457.186 Fund balanrA$ at 31 Alarch 2023 2TI,345 69.236 346,581 283,999 76,777 360,776 The statement of flnane4al activities indudes all gains antl10s8es recognised in the year. All income and expenditure derwe from continuing actltIeS. The statement of finan¢ial activities also compliès wrth the requirements for an income and expenditure aaUnt under the Companies Act 2006. 10-
CITIZENS ADVICE PORTSMOUTH BALANCE SHEET AS AT31 MARCH 2023 2023 2022 Nots$ Fixèd assets Tangible assets 12 10,604 Currènt assets Debtors Cash at bank and in hand 13 36,672 366,588 26,455 383,715 403,260 410,170 Creditors: amounts falllng duo wSthln one year 15 167.2831 143,394) Net Current assets 335,977 366,776 Total a88ets h$$ current liabilltl•B 346,581 366,776 Creditors: amounts lalling due after more than one year 16.0001 Net assets 346,581 360,776 Income fund$ Restricled funds Unrestricted bjnds 17 69,236 277,345 78,777 283.999 346,581 360,776 The company is entilled lo the exemption from the audit requirement contained in section 477 of the Companies Act 20(, for the year ended 31 March 2023, although an audit has been carried out under section 144 of the Charities Act2011. The directors acknowledge their responsibilities for complying wrth th8 requirements of the Companies Act 20( with respect lo accounting records and the preparation of financial 51alernents. The mèmbers have not required the company to obtain an audit of its financial statements under the requifem$nls ofthe Companies Act foc the year in question in accordance wth sectn 476. These finanaal statements have been prepared in accordance wilh the prowsions applicab lo companies subject to the sm311 companies règime. Thè finanaal statements were approved by the Truslees on . S Nienaltowski TTU$tee Company regi$trallon number 2946921
CITIZENS ADVICE PORTSMOUTH STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2023 2023 2022 Nots$ Cash flows from operating activities Cash generated fromllabsorbed by) operations 20 2,815 178.716) Investing a¢tivitieS Purchase of tangible fixed assets Investment income r•ceNèd 115,8271 1,885 2,580 N•t ¢ash (used invgenernted from Invèsting activities 113,942) Flnan¢ln9 a¢tfvlll•s Repayment of borrowings {6.000) 18.OCK)) Net ¢a$h used in finaneing actlyttlès {6.000) (6,0001 Net decreas• in cash and cash equival•nts {17.127) 182,1361 Cash and cash equivalents at beginning of year 383,715 465,851 Cash and cash equlvahnts at end ofyear 366,588 383.715 12-
CITIZENS ADVICE PORTSMOUTH NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 A¢¢ounllng poll¢le$ Charity information Citizens Adwce Portsmouth is a private company limited by guarantèè incorporated in England and Wales. The registerèd office is Units 2-3, Ark Royal House. nsIOn Churchill Avenue, Portsmouth, Hampshire. P01 2GF. 1.1 Accounting convention The financjal stalemenls have been prepared in accordance with the charity's tgoveming documentl, the Companies Act 2006, FRS 102 'The Finanaal Reporting Standard applicable in the UK and Republic of Irelantl. fFRS 102.1 and the Charities SORP 'Ac)Unting and Rèporting by ch3ri118s'. Stalemènl ol Recommended Practice applicable lo charitses preparing their account5 in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021" (effective 1 January 20191. The chanty is a Public 8enefit Entity as dèfined by FRS 102. The finanaal statements are prepared in sterfing. which is the fundion81 ¢urrency of the charity. Monetsry amounts in these finanaal statements are rounded 10 the nearest £. The financial stslemenls have been prepared under the historical cost cx)nvention. The prinup81 accounting polieS adopted are set oul balow. 1.2 Golng ¢on¢em At the time of apwoving Ihe )Inancial statements. the trustees have a reasonable expectation that Ihe charity has atlequaie resources to continue in operational existence foi the foreseeable future. Thus the trLStees continue to adopt the going ¢on¢em basis of accounting in preparing the finantyal statements. 1.3 Charitabk funds Unrestricted funds are available lor use at the discrelion of Ihe trustees in furtheran¢e of their charitsble bièctives. Restricted funds are subject to specific nditIonS by (lonors as to how they may be used. The purposes and uses of the restricted fvnds are set out in the notes to the finanGial statèments. Endowmènt fijnds are subject lo speeific conditions by donors that the capital must be maintained by the charity. 1.4 Income Income is recognised when the tharity is legally entitled to it after any perfomanee conditions have been met, the amounts can be measufftd reliably. and it is probable that incorne will be received. Cash donations are recognised on re¢eipl. Other donations are recognised once the charity has been nolrfied of the donatiiM, unless perfomance conditions require deferral of Ihe amount. Income lax recoverable in relalion lo donations recèived under Gift Aid or deeds of coven8nl is rè¢ognisèd at Ihe time of the donats'on. Legacses a recognised an receipt or otheiSe if the charity has been notified of an impending dstribution, the amount is known. and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset. Grfts and seNces in kind are induded at their estimated open market valuation.
CITIZENS ADVICE PORTSMOUTH NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 A¢¢¢)unting poli¢io8 {Contlnuedl 1.5 Expenditure Expenditure is recognised once there is a legal or constructiv¢ obligation lo transfer economic benefit lo a third party, it is probable that a Iransfer of economie bènèffts will be required in settlement. and Ihe amount of the obligation CAn be measured reliably. Expenditure is cjassified by activity. The ex)sts of eath a¢tivty are made up of the lotsl of dIrt costs and shared costs, including support costs involved in undertakin9 each a¢tivity. Dired costs attributatr4e to a single adivity are allocated directty to that aclivity. Shared ¢osls which contribute to more than one actm'ty and support efjsts which are not attributable to a single activity are apportioned been those activit$ on a basis Consistent with the use of resources. Central staff cost5 are allocated on the basis of time spent, and dèpreaation charges are allocated on thè portion ofthe asset's use. 1.6 Tanglble fixed a$$ets Tangible fixed assèts are lnitsa1 measured at cost and subsequently measured at cost or valuation, net of depreualion and any impairment losses. Depre¢i81ion is recognised so as to write off the cost or valuation of assets less their residual values over théir useful lives on the following base$.' Fixlures and fittings Computers 20% Straight line 33% Straight line Thè g8in or loss arising on the disposal of an asset is detem)ingd as the differen¢e between the sale proceeds and the carrying value of the asset, and is recognised in the stslement of financAal a'tIes. 1.7 Impaimient offIx assèts At each reporting end dalo. the chaTty rewews the c2rrying amounts of ils tangible assets lo delerniine whether the is any indication that those assÈls have suffered an ifflpairment loss. If any such indralitsn exisls, the recoverable amount of the asset is estimated in order to determine the extent of Ihe impaimenl loss lif any). 1.8 Cash and cash gqulvalénts Cash and ¢ash equivalenis indude Cash in hand, deposrts held at call with banks, othèr shorktemi liquid investments with original rTralurities of three months or less. and bank overdrafts. Bank overdrafts are shown within borrowings in eurrent liabilities. 1.9 Financial instruments The charity has eleded to apply the promsions of Section 11 'B8sic Financial Instruments, and Section 12 'Other Finanaal Instruments Issues. of FRS 102 to all of its financial instruments. Finanaal instruments are re¢ognised in the charity's b81ance sheet when the charity bècomes paty lo the ntractual prowsions of the inslrurnent. Finaneial assets and liabilities are offset, with the net amounts presented in the financjal statements, when there is a legally enforceable right to sèt off the recognisèd amounls and there is an intention to settle on a nel basis or to realise the asset and settle the liability simultaneously. Ba51c fin•nclal assets Basic financial assets. which indudè debtors and cash and bank blances, are init1811y MeasUd at transaclion price including transaction costs and are subsequenty carried at amortised cost using the effective interest method unlèss the aryangement constitutes a finanryng Iransactron. where the transaction is measured at the present value of the future receipts discounted at a market ratè of interesl. Finanal assets ¢lassified as recèivable wthin ona yèar are not amortised. 14-
CITIZENS ADVICE PORTSMOUTH NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 Aeeounting polici•s (Continuedl Basic financial liablllUe$ Basic financial liabilities, induding credrtors and bank loans are initially recognised al transaction pllce unles5 the air8ngement constitutes a financing transaction, where the debt instrument is measured at the psent value of the future payrnenls discounted at a market rate of Interest. Financi81 liabilrtiès dassffied as payable within one year are not amortised. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Trade Creditors are obligations lo pay for goods or services that havè bèèn acquired in Ihe ordinwy coursè of operations from suppliers. Amounts payable are dassified as current li8bilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially al transaction price and subsequently measured al amortised cost using the effective interèst method. Derecognltlon of financial Ilabiliti•$ Financial liabilities are dere¢ognised when the charity's contractual obligations expire or are discharged or cancelled. 1.10 Employee b¢neffts Thè eost of any unused holiday entidement is rec4)gnised in Ihe period in which the employee's setvices are received. Temination benefrts are recognised immèdiately as an expense when the charity is dernonstrably eommitted lo lemiinate the employment of an employee or to provide temiination benefits. 1.11 Retirement b•neffts Payments lo defined contribution rètirèment benefit schemes are ¢harged as an experhse as they fall due. Ctical accounting èstimates and judg¢m¥nts In the application of the charity's accounting poliijes, thè trustees are requlred to make judgernents, èstimates and assumptions about the Carrying amount of assets and liabilities that 8re not readily apparent from other sources. The estimates and associated assumptions are based on hislorical experience and other fadors that are considered lo be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are rewiewed on an ongoing basis. Rewsions to a¢Uting estimates are recognised in the period in which Ihe estsm8te Is rewsed where the reirision affects that period, or in the period of the revision and lulure periods wheie the revision affects both Currènt and future periods. Kay sources of •$llmatlon uncertainty U$elul Ilfe of tangible fix assets The tjseful lives of assets are detemined by management at the time the asset is acquired and raviewed for appropriateness. The lives are based on historical experience With similar assets as well as antiapation of future events, whi¢h may impact th¢ir lifè. 15-
CITIZENS ADVICE PORTSMOUTH NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 Donatlons and l¢ga¢l•s Unrestricted R•strict•d funds funds Totsl Unrestricted fund$ 2023 2023 2023 2022 Donations and gifts Donated goods and s8Meè$ 3.104 9,000 5,000 8,104 9,000 262 9,000 12,104 5,000 17.104 9,262 tnated goods and seplices Portsmouth Cty Counryl proldeS the premises at Portsmouth frorn which the chaiity operates al a reduced renl. The assistance for the year has been valued at £9,00012022.' £9,000) Charltsble activities 2023 2022 Provision of advisory seNcès Other income 1,231,049 3,322 864,230 1,234.371 864,230 Analys18 by fund Unrestri¢ted lunds Restri¢te¢J fvnds 46.430 1,187,941 {1,6391 865,869 1,234.371 864,230 InYÈstments Unrnslricted Unre$trl¢tod funds funds 2023 2022 Interest receivable 1,885 2.580 16-
CITIZENS ADVICE PORTSMOUTH NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 Other incom• UnYestrict•d fund$ Totsl 2023 2022 Other income 6,068 Charltsblé activiti 2023 2022 Staff costs Depreaation and impaimient staff and volunteer costs Premises costs Disbursements 1,109.555 5,223 16,328 37,323 5.129 772,299 9,249 35,989 20,424 1,173.556 837,961 Share of support costs (see note 81 Share of govemance costs IsÈè note 81 92,940 7,127 128,981 5,540 1,273,623 972,482 Analysis by fvnd Unrestricted funds Restricted funds 61,797 1,211,826 8,534 963,948 1,273,623 972,482 17-
CITIZENS ADVICE PORTSMOUTH NOTES TO THE FINANCIAL STATEMENTS {CONTINUED FOR THE YEAR ENDED 31 MARCH 2023 Support costs Support Governance costs costs 2023 Support Govemance costs Ct)sts 2022 Staff costs Office costs 66,149 62,832 3,482 69.e31 62,832 92,940 92.940 Audit fees Accountancy Legal and prOfeSsnal 4,020 1,440 1,667 4.020 1.440 1.e87 2.058 2.058 92,940 7,127 1(NJ.L7 128,981 5,540 134.521 Analysed beeen Charitable atxivitses 92,940 7.127 100,C67 128,981 134,521 Govemance costs indudes payments to the auditors of £4,020 12022- £nill for audit fees and £2,058 for independent examination fees in 2022. TrustÈe$ None of the Iruslees lor any persons connecled with them) rèc$ived any remuneration or benefrts frorn the ch8rity during Ihe year. 10 Employéés The average monthly number of employees during the year was.. 2023 Numb•r 2022 Number Average full ts'me equivalent number of staff empltsyed so 31 Emplwent costs 2023 2022 Wages and salaries Soaal securty costs Other pension costs 1,016,791 77,761 15,003 772.365 57.682 11.883 1.109,555 841,930 There were no employees vJhose annu81 remuneration was more than £60,OCM). 11 Taxation The rharty is exempl from tax On income and gains falling within section 505 of the Taxes Att 1988 or section 252 of the Taxalionof Chargeable Gains Act 1992 to the exlent that these are applied lo its charitable objects. 18-
CITIZENS ADVICE PORTSMOUTH NOTES TO THE FINANCIAL STATEMENTS ICONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 12 Tangible fixed •$$èts Fixlures and 1Sttlngs CthnpLrtèf8 Total Cost Al 1 April 2022 Addrtions 31.168 40,426 15,827 71,594 15,827 At 31 March 2023 31,168 56,253 87,421 Deprttlatlon and Impalrnient At 1 April 2022 Depreaation charged in the year 31,168 40.426 5.223 71,594 5,223 Al 31 March 2023 31,168 45,649 76,817 Carying amount Al 31 March 2023 10,604 10,604 13 Debto 2023 2022 Amounts falllng due wlthln one y•ar: Trade debtors Prepayments and accrued in¢ome 32.859 3.813 26,386 69 36,672 26,455 14 Loans and overdrafts 2023 2022 Oiher loans 12,000 Payable within one year Payable after one year 6,000 6,000 6,000 In April 2013, the Bureau received a loan from Portsmouth City Council lo ffinance the exit charge from thè LoGal Govemmenl Pension Scheme. The loan is secured by a fl081ing charge over the assets of the Bureau. 19-
CITIZENS ADVICE PORTSMOUTH NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 15 Cr•ditars: amounts falllng within on• year 2023 2022 Bormwngs Olhar taxation and soaal sécurity Trade creditors Oiher creditors AceJuals and deferred income 6,000 15,488 17,021 2,725 2,160 19,798 2,190 35,629 67,283 43.394 16 Creditots: amounts falllng due after more than ong year 2023 2022 8orrowngs 6,¢JJO 20-
rDW 000 00¢0 OOOGJ Jo0 (N ¢D o u) ( ¢0 O o*
rn ¢0 o )000 fDOO O ¢D Lri 000ry ¢JJ ¢5) o (fj roo UCL c(n>%u E._ llULLEEr
CITIZENS ADVICE PORTSMOUTH NOTES TO THE FINANCIAL STATEMENTS {CONTINUED FOR THE YEAR ENDED 31 MARCH 2023 18 Analysis of net ass•ts between funds Unrestslcted Restricted fund$ funds 2023 2023 Total Unrestricted Restricted funds funds 2022 2022 Total 2023 2022 Fund balances al 31 March 2023 are represented by.. Tangible assets Curtenl asse1511liabililies1 Long lem liabilities 10,604 266.741 10.604 335.977 69,236 366,776 {6.0001 366,776 16,000) 277.345 69.236 346.581 360.776 360,776 19 Relat party tran$a¢tlon$ There were no disdos8ble lated party transactions during the year12022- llone). 20 Cash genernted from operations 2023 2022 Defiat for the year 114,195) {96,410) Adjustments for.. Investment income recognised in stalement of financial actiwties Depreaalion and impairment of tangible ftxed assets {1,8851 5,223 12,5801 ovements in working capital. {Increaselldecrease in debtors Increase in creditors (10,217) 23,889 8.995 11.279 Cash generated fromllabsorfo•d by) opèrdtlons 2,815 178,716} 21 Analysis of changes in not funds Al l Aprfl 2022 ash Iknv8AI 31 March 2023 Cash at bank and in hand 383,715 117,127) 366,588 Loans falling due within one year Loans falling due after more than one year 16,000) 16,0001 16.QOOI 6,000 371,715 111,12n 380.588 -24-