Charity registration number 1039776 Company registrdtion number 02946921 (England and Wales) CITIZENS ADVICE SOLENT EAST (FORMERLY KNOWN AS CITIZENS ADVICE PORTSMOUTH) ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
CITIZENS ADVICE SOLENT EAST (FORMERLY KNOWN AS CITIZENS ADVICE PORTSMOUTH) LEGAL AND ADMINISTRATIVE INFORMATION Trustees Mr S Nienaltowski Miss L J Burton MrA I Cullen Mr R .1 Fmmp.rqnn Mr K Richardson Mr R N l Townsend Ms M Wade Ms S T Dhana Mr T A Little MrA Gilbert Mr P B Brook Secretary Mr K Richardson Charity number 1039776 Company number 02946921 Registered office Units 2-3 Ark Royal House nston Churchill Avenue Portsmoulh Hampshire P01 2GF Auditor SumerAudit Piper House 4 Dukes Court Bognor Road Chichester West Sussex P019 8FX Bankers National Westminster Bank PIC First floor Bay House North Harbour Business Park Portsmouth Hanls P06 4RS Solicitors Bales Wells & Braithwarte Cheapside House 138 Cheapside l ondon EC2V 6BB
CITIZENS ADVICE SOLENT EAST (FORMERLY KNOWN AS CITIZENS ADVICE PORTSMOUTH) CONTENTS Page Tru?tee3' report Statement of trustees, responsibilities Independent auditorfs report Statement of financial activtties 10 Balance sheet 11 Statement of cash flows 12 Notes to the financial statements 13-24
CITIZENS ADVICE SOLENT EAST (FORMERLY KNOWN AS CITIZENS ADVICE PORTSMOUTH) TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 MARCH 2024 The Truslees, who are also Directors of the Charity for the purposes of the Companies Act, present their report together with the financial statements of the Chairty for the year ended 31 March 2024. The accounts havè been prepared in accordan with the accounting policies sel out in the notes to the accounts and comply with the Charity's goveming document, applicable law and the requirements of the StateMt of Recommended Practi applicable lo charrties preparing their accounts in accordance wilh the Financbal Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)- The Trustees have paid due regard to the Charity Commission's guidance on public benefit in deciding the activities undertaken by our local Citizens Advice during the year. The Trustees are salisfied that the information provided in the report and accounts meets the public benefit reporting requirerner)Is. As part of the merger with Citizens Advi Havant that took place on the 1 October 2024, we have boked at the legal erblity name and as the new Charity covers the east Solent area. we have formally changed the Companies House and Charity Commission name to Cillzens Advice Solent East. We feel this represents the geography the Charity is covering. One important thing to note is Ihal we are not going to aller what each operation is known as locally. We feel it is very important Ihal as a client walks into either the Havant or Portsmouth cenlres, they recognise il as Citizens Advice Havant or PortsmoLth. Objectives and Activities The Charity's objects are to promote any charitable purpose for the public benefit by the advancement of education, the protection and preservation of health and the relief of povety. sickness and distress in particular. Our servlce Is deslgne(f io worK for a range of needs. including those vmh the most complex probl$ io Ihose tnat are small, bul equally important to that individual. We do so for the benefit of the community of Portsmouth and the surrounding area, recognising that diversity, equality and inciusion are at the core of our objectives is promoted. All members of Citizens Advi network share the same aims". To provide the advice people need for the problems they face To improve the policies and practices that affect people's lives Contribution of Volunteers We receive help and support in the form of volunteers who provide advice. information and guidance to clients, but also contribute to various other aspects of administering the charity. In 2023124 CAP benefited from the contribution of 61 volunteers averaging 9.5 hours per week across our services. representing a value of volunteering hours 579.5 on average equalling £7.323.16 per week. Our conlinual investment in volunteer development ensures our clients receive quality advice and support. It also has tangible benefits for volunteers and wider society, through happier, healtnier and more productive cltlzens. This is an additional benefit to society. through the way Citizens Advice delivers its service. The main ftnancial arguments cover Ihe public value created through enabling local neOrk volunteers to". Move into worf( through the experience and confidence gained during their time at a local Cilvzens Advice. Develop skills that Can lead to better salaries and employment prospects. Better manage mental health conditions, such as depression. Improve self-esteem, reduce isolalion and increased ability to gel on. Improve community relationships. through incxeased community Irust and promote a sense of belonging by working Wlth local people.
CITIZENS ADVICE SOLENT EAST (FORMERLY KNOWN AS CITIZENS ADVICE PORTSMOUTH) TRUSTEES, REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Achievements and perfomiance In 2023124 our newly funded generalist advice Servi dealt with 13.597 client contacts, including 3.315 fa-t[> face. 6.184 via ernail. and 4.098 by telephone. addressing over 28.687 advi issues. Our efforts yielded impressive outcomes for our clients. including-. We secured £17.317,841 in financial gains through welfare beneffts and debt write-offs. We have supported clients by reducing client's debt. totalling £333.640. We supported individuals and families at greatest risk of ctisis. 2,159 client contacts from clients were related to Immigration and Asylum. 550kn had a disability andlor long-tem) health condib'on. Overall, Citizens Advice Portsmouth dealt with 27,851 client contacts including 4039 face-to-face, 10,425 via email and 11,982 by telephone addressing over 50.900 advi issues. Our efforts yielded impressive outcomes for our clients. including- secured £23.315,236 in financial gains through welfare benefits and debt write-offs. have supported dients by reducing clienvs debt, totalling £855,719. We supported irKlividuals and fafflilies at greatest risk of uisis. 7,495 clients were able to use our excellent online support services to self-help, negating the need for an adviser and preserving our resources for those most in need of adviser support. 48°A had a disabiliiy andlor long-temi health condition. In conclusion, we take 9reat pride in sharing that during the 2023124 period. an impressive 960A of our customers rated our overall support as either good or excellent. Factors Affecting the Achievement of Objectives In 2023124 In the 2023124 fiscal year, Portsmouth City Council recognised the vital Work we do in providing advice to the Portsmouth community by granting us financial support. This funding allowed us to secure paid staff for a service that had previously relied on our reserves and volunteer effort5. This was a signrficant milestone in enhancing our professional standing in the city. Additionally. we soft_launched our first social enterprise-2 specialist immigration advice servicè. In its first year, we tripled OLJr financial larget and provided free advi to 865 individuals through this initiative. Our dedicated team worked tirelessly to ensure another year of growth and success for our essential service. Consequently, a major focus this year was to significantly enhan the benefits package for our team mernbers, ensuring a supportive work environment that offers opportunrlies for growth, divergty, and overall well-being. Financial review inancial Posrtion The trustees report incoming resources for the year of £1.445.045 (2023.. £1,259,428). Of this £1,343,073 12023.. £1,192,941) related to project restricted activities. The charrty does not carry out any significant public fundraising activities. Nel incoming resources in the year amounted to £105.70712023.' nel outgoing resources £14,195). At 31 sl March 2024 reserves were £452,28812023_' £346,581) of which £91.147 (2023-. £69.2361 represented restricted funds.
CITIZENS ADVICE SOLENT EAST (FORMERLY KNOWN AS CITIZENS ADVICE PORTSMOUTH) TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Reserves Poli 11 is the policy of the charity that unrestricted funds which are not represented by fixed assets or have not been designated for specific use should be maintained at a level equivalent to beeen 3-6 months expendilure. The trustees consider that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the charity's current activities while consideration is given to ways in which additional funds may be raised. These reserves at 31 March 2024 stood at £452.288 {2023. £346.581}. whith is comfortably within this range. Future Plans As we look ahead to 2024125, our priority remains to diversity our funding sources and increase our unrestricted funding. To achieve this, we are exploring new fundraising initiatives and expanding our social enterprise ventures. To support these efforts. we have strengthened our business development team by hiring an additional bid writer. As mentioned at the beginning of thi5 report the new legal entity thal came into effect on 1 October 2024 covers the Havant and Portsmouth operations. As we look al the developing landscape wlh grants and funders, we do expect to see more mergers of local Citizen Advice operations and we will respond to those as the opportunity I need arises. Structure. Governance and Management Governin Document The charity is a company limited by guarantee and was frjmed on 8 July 1994. It is governed by its Memorandum and Articles ofAssociation as amended on 5 November 2002. and 4 November 2011. The trustees, who are also Ihe directors for the purpose of company law. and who served during the year and up to the date of signature of the financial statements were= Mr .8 Nip.n8ltowski Miss L J Burton Mr A I Cullen Mr R Eade Mr R J Emmerson Mr K Richardson Mr R N l Townsend Mr T Watmough Ms M Wade Ms S T Dhana Mr T A Little MrA Gilbert Mr P B Brook Ms Emily Drum {Resigned 1 July 2023) (Resigned 18 September 20231 {Resigned 29 November 2023) Trustees Trustees are elected from the membership of the charity. Members wishing to stand as Trustees are nominated by an existing Trustee and names are put forward at the Annual General Meeting for election. The maximum number of Trustees shall be 15 and the minimum shall be 3. being either= al elected at the Annual General Meeting (there being no more than ten such elected Truslees in tolal) and who shall hold Offi from the conclusion of that meeting", b) Co-opted by th¢ Tru¥tee Board Newly appointed Trustees are provided with a comprehensive induction lo the charity through the provision of training courses and mentoring by established Trustees.
CITIZENS ADVICE SOLENT EAST (FORMERLY KNOWN AS CITIZENS ADVICE PORTSMOUTH) TRUSTEES, REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Membershi In addibon to Trustees, the Charity may admit into membership= al individuals (over the age of 18 years) who a interested in fijrthering the work of the Charity and who are not paid or volunteer workers of the Charity.. and b) any body corporate or unincorporated association which is interested in furthering the Charity's work and is admitted lo membership by the Trustees {any such body being called a "member organisation"). The Trustee Board may estsblish criteria for membership and make regulations governing the admission of members. anisation Struc Overall control of the charty rests wilh the Trustee board. with a chairperson, treasurer and company secretary as offiTrrs. Trustees meet as a minimum 4 times a year Iquarterty) but review and meel as required with additional meetings organised in accordance with the company articles. The Trustees delegate day-lo-day organisational management to the Chief Officer, Sandy Bramley. The Trustee Board is independent from management_ A register of members, inlerests is maintained al the registered office and is available to Ihe public. Related Parties Citizens Advice Portsmouth is an independent charity Ihat is a meTnber of Citizens Advice (trading name of the National Association of Cilizens Advice), which provides a framework for standards of advice and casework rnanagemenl as well as monitoring progress against these standards. Operating policies are independently determined by the Trustee Board of Citizens advice Portsmouth in order lo fulfil its charitable objeds and comply with the national membership requirements. The Charity operates from its head office at Ark Royal House. Ma or Risks The trustees have developed a framework with defined risk appetites aligned lo the Charty Commissions 'Charities and risk management, guidance. The primary risk remains in relation to Department for Work and Pensions IDWPI services (Help to Clairn and Money Advice) which remains a risk in part due lo societal changes and in¢xeasing demands on service delivery. Mitigation plans remain in place and are regularly reviewed.. including the continuing move toward diversification of servIs. On the face of this with our main contracts offered with a 12- or 18-monlh period this mighl look like a high risk. But the nature of this beast is that is how the DWP operates, and we do not see this as a risk as the employees contracted to these contract3 are not an on90ing liability as we have a well tried and tested process for making roles redundant when, or if. contracts terminate. Today we have a portfolio of 16 grant contracts from 11 ftinders of which these are only two of the 16_ We remain very aware of the situation but do not see this as high risk. In fact the strategy seems to be moving in a direction of more regional based agreements and as we grow our own organisalion and geographic coverage, this will strengthen our posttion to lake on larger contracts. Citizens Advice Portsmouth are fesponding to the risks associated with societal challenges and increasing needs, most notably in respect to debt and mental health concems through direct advice and collaboration with partners across the city. Altditor In accordance with the company's articles. a resolub.on proposing that SumerAudit be reappointed as auditor of the cornpany will be put at a General Meeting.
CITIZENS ADVICE SOLENT EAST (FORMERLY KNOWN AS CITIZENS ADVICE PORTSMOUTH) TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Dlsclosure of Infomtlon to audltor Each of the trustses has confinned that there is rm) intmlion of whrh they are aware which is relevant to the audit, but of which the auditor is unawarp. Thèy have rth•r confirmod that they hgve taken appropriate slep5 to Mjenttfy such relevant infornation and to establish that Ihe auditor is awe of such infomation. The trustÈÈs' POrt was approved by ts Board of Trustees. Mr S Nienaltowski Trusteo Date.. g_Cii*
CITIZENS ADVICE SOLENT EAST {FORMERLY KNOWN AS CITIZENS ADVICE PORTSMOUTH) STATEMENT OF TRUSTEES. RESPONSIBILITIES FOR THE YEAR ENDED 31 MARCH 2024 The trustees, who are also the directors of Citizens Advice Solent East for the purpose of company law, are responsible for preparing the Trustees. Report and the financial statements in accordance wth applicable law and United Kingdom Accounting Standards Iunited Kingdom Generally Accepted Accounting Practice). Company Law requires the trustees to prepare financial statements for each financial year vthich give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resour$, including the income and expenditure. of the charitable company for thal yeai. In preparing these financial statements, the trustees are required to.. select suitable accounting policies and then apply them consistently., observe the methods and principles in the Charities SORP- make judgements and estimates that are reasonable and prudent- stale whether applicable UK Accounb'ng Standards have been followed. SLsbject to any material departures disclosed and explained in the financial statements.. and prepare the financial stalernenls on the going concem basis unless it is inappropriate to presume that the charity will continue in operation_ The trustees are responsible for keeping adequate accounting records that disdose wth reasonable accuracy at any time the financi31 position of the charity and enable them to @nsLire that the financial statemen ts comply with th Companies Act 2006. They are also responsible for safeguarding the assets of the chanty and hence for tsking reasonable steps for the preventson and detection of fraud and other irregularities.
CITIZENS ADVICE SOLENT EAST (FORMERLY KNOWN AS CITIZENS ADVICE PORTSMOUTH) INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF CITIZENS ADVICE SOLENT EAST Opinion We have audited the financial statements of Citizens Advi Solent East (the 'charity') for the year ended 31 March 2024 which comprise the stalement of financial activities, the balan sheet. the stalemenl of cash flows and notes lo the financial statements. induding significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and Untted Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republ of Ireland (United Kingdom Generally Accepted Accounling Practi). In our opinion, the financial statements= give a true and fair view of the state of the charttable company's affairs as at 31 March 2024 and of its incoming resources and application of resources. for the year then ended". have been properly prepared in accordan with United Kingdom Generally Accepted Accounting practi,. and have been prepared in accordance wth the requirements of the CompaniesAct 20[. Basis for opinion We conducled our audit in accordan with Intemalional Standards on Auditing (UK) (ISAS IUKII and applicable law. Our responsibilities under those standards are further deKribed in the Auditors responsibilities for the audit ol Ihe financial statements section of our report. We are independent of the charity in accordance Nwth Ihe 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 accordan with these requirements. We believe that the audit evidence we have obtained is suffiuent and appropriale 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 concem basis of accounting in the preparation of the financial slatements is appropriate. Based on the work we have perfom)ed, we have nol ideTrtified any material nrtaInlieS reldliiig lu vrI15 ui conditions that, individually or collectively, may casl significant doubt on the charity's ability to continue as a going COnM for a period of at least tsvelve months from when the financial statements are authorised for issue. Our responsibilitie5 and the responsibilities of the trustees with respect to going concem are described in the relevant sections of this report. Other information The other infomation comprises the inforniation included in the annual report other than the finala1 statements and our auditor's report Ihereon. The trustees are iesponsible for Ihe other infomation contained wilhin the annual report. Our opinion on the financial sialeineiils does iiol covvi Ili¥ ulligi irifuirTldliuri drid we (fo riul express any form of assurance conclusion Ihereon. Our responsibility is to read Ihe other infonnalion and, in doing so, consider whether the other infonnation is materially inconsistent wth the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies 01 apparent material misslalemenls, we are required to delermine whether this gives rise lo a materBI misslalement in the financial statements themselves. If, based on the work we have performed. we condude that there is a material misstatement of tt)is other information. we are required to report that fact. We have nothing to report in this regard. Matters on which we are required to report by exception We have nothing to report in respect of the following matters in relation to which the Charities (Accounts and Reports) Regulations 2008 require us to report lo you if. in our opinion". the information given in the finanoal statements is inconsistent in any material respect with the trustees. report., or suylfclent accounting records have not Oeen kept.. or the financial statements are not in agreement with the accounting records". or we have not feceived all the information and explanations we require for our audit_
CITIZENS ADVICE SOLENT EAST (FORMERLY KNOWN AS CITIZENS ADVICE PORTSMOUTH) INDEPENDENT AUDITOR'S REPORT {CONTINUED) TO THE TRUSTEES OF CITIZENS ADVICE SOLENT EAST Responsibilities of trustees As explained more fully in the ststement of trustees. responsibilities, the trustees. who are also the directors of the charity for Ihc purpovc of ¢ompony law, arc rcwpon&wibl¢ for thc proparation of the financ$31 $13tementS 2nd for being satisfied that they give a true and fair view. and for such internal control as the trustees determine is necessary to enable the preparation of financial ststements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements. the truslees are responsible for assessing the charity's ability to continue as a going concem, disclosing, as applicable. matters related lo going conrn and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic allematÉve but to do so. Audltorfs responslbllities for the audit of the fit7ancial statements We have been appointed as auditor under section 144 of the Charities Act 2011 and report in accordance with the Act and rclcvant rcgulations madc or having ¢ff¢ct thcrcunder. Our objectives are to obtain reasonable assurance about whether the financial stalemenls as a Who are free from malerial misstatement, whether due to fraud or error, and to issue an auditorfs report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAS IUKI will always detect a material misstatement when it exists. Misstatements ¢an arise from fraud or error and are considered material if, individually or in the aggregale. they could reasonably be expected to influence the economic decisions of users tsken on the basis of these financtal statements. In addition to the above, our procedures to respond to risks identified included the followng." Making enquiries of management, about any knovm or suspected instan$ of non-compliance with laws and regulations and fraud.. Reviewing minutes of meetings of the board and senior management- Reading correspondence with regulators- Challenging assumptions and judgements made by management in their significant accounting estimates, including defined benefit pension scheme valuations.. and Auditing the risk of management override of controls, including through tesb.ng journal entries and other adjustmenls for appropriateness. Irregularities, including fraud, are inslances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above. lo detect material misstatements in respect of irregularities. including fraud. The extent to which our procedures are capable of delecling iwegularilies, including fraud, is detailed below. In identifying and assessing risks of material mi&8tatement in respect of irregularities, including fraud and no compliance with laws and regulations, Dur procedures included the following". Obtaining an understanding of the legal and regulatory framework that the charitable company operates in, focusing on those laws and regulations that had a direct effect on the financial statements and operations". Obtaining an understanding of the charitable company's policies and procedures on fraud risks, including knowledge of any actual, suspeeled or alleged fraud." and Discussing among the engagement team how and where fraud might occur in the financial statements and any potential indicators of fraud through our knowledge and understanding of the company and our sector- specific experience. As a result of these procedures, we conSided the opportunities and incentives that may exist within the charitable coiiipaiiy for fraud. We are also required to perform speGific p[cKedu$ lo respond to the risk of management override. As a result of performing the above, we identified the following areas as those most likely to have an impact on the financial statements: compliance wtth the UK Companies Act and Charities Act.
CITIZENS ADVICE SOLENT EAST (FORMERLY KNOWN AS CITIZENS ADVICE PORTSMOUTH) INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF CITIZENS ADVICE SOLENT EAST In addition lo the above, our prOdureS to respond lo risks identified included the following.. Makinq enquiries of management about any known or suspected instances of non-compliance wtth laws and regulations and fraud-, Reviewing minutes of meetings of the board and senior management.. Challenging assumptions and judgements made by managemenl in their significant accounting estimates., and Auditing the risk of management override of controls. induding through testing journal entries other adjustments for appropriateness. Due to the inherent limitations of an audit, there is an unavoidable risk that some material misslatemenls in the financial stalements may not be detected, even though the audit is property planned and performed in accordance with the ISAS (UK). For instance, the further removed non-compliance is from the events and transactions reflected in the financial statements, the less likely the auditor is lo become aware of it or to recognise the non-compliance. A further description of our responsibilities is available on the Financial Reporting Council's website at.. https.'Il www.frc.org.uklauditorsresponsibilities. This descrtption fomis part of our auditorfs report. Use of our report This report is made solely to the charity's Irustees, as a body, in accordan with part 4 of the Charities {Accounls and Reports) Regulations 2008_ Our audit work has been undertaken so that we might slate to the charity's trustees those matters we are required to state to them in an auditor's port and for no other purpose. To Ihe fullest extent permitted by law, we do not accept or assume responsibility lo anyone other Ihan the charity and the charity's trustees as a body, for our audit work. for this report, or for the opinions we have formed. Robin Evans BA FCA CTA DChA (Senior Statutory Auditor) for and on behalf of SumerAudit Chartered Accountants Statutory Auditor Chichester SumerAudit is the trading name of SurnerAuditco Limited
CITIZENS ADVICE SOLENT EAST (FORMERLY KNOWN AS CITIZENS ADVICE PORTSMOUTH) STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2024 Unrestrlcted Restricted funds funds 2024 2024 Total Unrestricted Restricted funds funds 2023 2023 Total 2024 2023 Notes Income and endowments from: Donations and legacies Charitable activities Investments Olher income 9,222 84.237 8.382 130 9.222 1.427,310 8,382 130 12,104 46.430 1.885 6.068 5,000 1,187.941 17.104 1,234.371 1.885 6.068 1.343.073 Total income 101.971 1.343.073 1.445.044 66.487 1.192,941 1.259,428 Expenditure on- Charitable activities 14.668 1.324.669 1.339,337 61.797 1.211.826 1.273.623 Total expenditure 14.668 1.324,669 1.339,337 61,797 1,211,826 1.273,623 Net incomellexpenditure) 07,303 16.404 105.707 4.690 118,885) (14,1951 Transfers between funds 13,507) 3.507 (11.3441 11,344 Net movement In funds 83.796 21.911 105.707 16.654) (7.541) (14,195) Reconciliation of funds: Fund balanS at 1 April 2023 277,345 69,236 346,581 283.999 76.777 360,776 Fund balances at 31 March 2024 361.141 91.147 452,288 277,345 69,238 346.581 The slatemenl of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. 10-
CITIZENS ADVICE SOLENT EAST (FORMERLY KNOWN AS CITIZENS ADVICE PORTSMOUTH) BALANCE SHEET ASAT31 MARCH 2024 2024 2023 Notes Fixed assets Tangible assets 12 25.046 10,604 Current assets Debtors Cash at bank and in hand 13 78.582 397.221 36,672 366,588 475.803 403.280 CreditoryJ: amounts falling due within one yèar 15 48.561 67.283 Net current assets 427.242 335,977 Total assets less Current liabilitles 452,288 346.581 The funds of the charity Restricted income funds Unrestricted funds 16 91.147 361.141 69,236 277.345 452,288 346,581 The financral statements were approved by the trLAStees on ......................... Mr S Nienaltows Trustee Company registration number 02946921 (England and Wales) 11
CITIZENS ADVICE SOLENT EAST (FORMERLY KNOWN AS CITIZENS ADVICE PORTSMOUTH) STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2024 2024 2023 Notes Cash flows from operating activities Cash generated from operations 22 56.370 2,815 Investing activlties Purchase of tangible fixed assets Investment income received (28.119) 8.382 (15,8271 1,885 Net cash used in Investing activities (19.737) (13,9421 Financing activities Repayment of borrowings (6.000) (6,000) Net cash used in financing activities (6.000) {6,0001 Net increasel{decrease} In cash and cash equivalents 30.633 (17,127) Cash and cash equivalents at beginning of year 366,588 383,715 Cash and cash equivalents at end of year 397,221 368,588 12-
CITIZENS ADVICE SOLENT EAST (FORMERLY KNOWN AS CITIZENS ADVICE PORTSMOUTH) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Accounting policies Charity inforniation Cit12ens Advice Solent East is a private company limited by guarantee incorporated in England and Wales. The registered office is Units 2-3. Ark Royal House. Winston Churchill Avenue, Hampshire. Portsmouth. P01 2GF. 1.1 Accounting convention The financial statements have been prepared in accordance with the charity's articEes of association. the Companies Act 2006. FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" ('FRS 102.1 and the Charitses SORP 'Accounting and Reporting by Chaiities-. Statement ol Recommended Practice applicable to charities preparing their accounts in accordan with the Finanal Reporting Standard applicable in the UK and Republic of Ireland {FRS 102)" (effective 1 January 2019). The charity is a Public Benefit Enlity as defined by FRS 102. The financial statements are prepared in sterling, which is the functiork21 currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £1. The financial statements have been prepared uThJer the historical cost conventit)n. The principal accounting policies adopted are set out below_ 1.2 Going concern At the time of approving the financial statements, the trustees have a reasonable expeclation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the 90ing concern basis of accounting in preparing the financial staternents. Based on these assessments and having regard to the resources available to the entity, the trustees have concluded that there is no material uncertainty and that they can continue to adopt the going concem basis in preparing the annual report and financial statements. 1.3 Charitable funds Unrestricted funds are available for use at ihe discretion of the trustees in furtherance of their charitable objectives. Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements. 1.4 Income Incorne is recognised when the charrty is legally entitled to it after any performan conditions have been met, the amounts can be measured reliably. and it is probable that income will be reIved. Cash donation5 are recogrEised on receipt. Olhei donations ale iecogni5ed the charity has been nolified of the donation, unless perfomiance condits.ons require deferral of the amount. Income lax recoverable in relation to donations received under GiftAid or deeds of covenant is recognised at the time of the donation. Legacies are recognised on receipt or otherwise rf the charity has been notified of an impending di5tribulion, the amount is known, and receipl is expected. If the amount is not known. the legacy is treaied as a contingent asset. Goods, facilities and services in kind are induded at their ests'mated open market valuation. 13-
CITIZENS ADVICE SOLENT EAST (FORMERLY KNOWN AS CITIZENS ADVICE PORTSMOUTH) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Accounting policies Icontlnued) 1.5 Expenditure Expenditure is recognised once there is a legal or constructive obligation lo transfer economic benefit to a third party, il is probable that a transfer of economic beneffts will be required in settlement, and the amount of the obligation can be measured reliably. Exp•.nrtitLirp. is classifie.d by artFvity The Costs of each activty 3r@ mad@. ijp of the total of dirert ft.nqts And shared costs. including support costs involved in undertaking each activity. Direct Costs attributable to a single activity are allocated directly to that activty. Shared costs which ¢(tribute to more than one activity and support costs which are not attributable to a single activity are apportioned beeen those activities on a basis consistent wtth the use of resources. Central staff costs are allocaled on the basis of time spent, and depreciation charges are allocated on the portion of the asset's use. 1.6 Tangible fixed assets Tangible fixed assets are initially measured at cost and 5ubsequentty measured al cost or valuation, net of depreciation and any impaimient losses. Depreciation is recognised so as to wrrte off the cost or valuation of assets less their re$Ual values over their useful lives on the following bases-. Fixture5 and fittings Computers 25% Reducing balan 33% Straight line The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the ststement of financial activities. 1.7 Impairment of fixed assets At each reporting end dale, the charity reviews the (2rrying amounts of its tangible assets to determine whether there is any indicabon thal those assets have suffered an impaimient loss. If any such indication exists, the recoverable amount of ihe asset is estimated in order lo determine the extent of the impairment IcLq£ {if Any). 1.8 Cash and cash equivalents Cash and cash equivalents include cash in hand. deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown wrthin borrowings in current liabilities. 1.9 Financial instruments The charity has elected lo apply the provisions of Section 11 'Basic Financial Instruments. and Section 12 'Other Financial Instruments Issues. of FRS 102 to all of its financial in51tuments. Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, wlh the nel amount5 presented in the financial statements. when there is a legally enforceable rjght Io Set off the recognised amounts and there 18 an intention to Settle on a nel basis or to realise the asset and settle the liability simultaneously. Basic financial assets Basic financial assets, which indude debtors and cash and bank balaes, are initially measured at transaction prÉce Inclu(iing transaction costs and are subsequently carried at amonised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classrfied as receivable within one year are not amortised. 14-
CITIZENS ADVICE SOLENT EAST (FORMERLY KNOWN AS CITIZENS ADVICE PORTSMOUTH) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Accounting policies (Continued) 8asic financial liabilities Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a finanong transaction. where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities dassffied as payable within one year are not amortJ"sed. Debt instruments are subsequenliy carried at amorts.sed cost. using the effective inlerest rate method. Trade creditors are obligations to pay for goods or servi$ that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not. they are piesented as non-currenl liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method. Derecognition of financial liabilities Financial liabilities are derecognised when the charity's contractual obligations expire or are discharged or cancelled. 1.10 Employee benefits The cost of any unused holiday entitlement is recognised in the peri¢xl in which the employee's services are received. Temiination benefits are recognised immediately as an expense when the charity is demonstrabty commttted to terminate the employmenl of an employee or to provide temiination benefits. 1.11 Retirement benefits Payments to defined contribution rets"rement benefft schemes are charged as an expense as they fall due. Critical accounting estimates and judgements In the application of the charity's accounting policies. the trustees are required lo make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experien and other factors that are con&deied to be reievant. Actual results may differ from these estimates. The estimates and undertying assumptions are reviewed on an ongoing basis_ Revisions to accounting estimates are recognised in the period in which the eslimate is revised where the revision affects only that period. or in the period of the revision and future periods where the revision affects both current and future periods. 15-
CITIZENS ADVICE SOLENT EAST (FORMERLY KNOWN AS CITIZENS ADVICE PORTSMOUTH) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Donations and legacies Unrestricted funds Total Unrestricted Restricted funds fvnds Total 2024 2024 2023 2023 2023 Donations and gifts Donated goods and services 222 9.000 222 9.000 3,104 9.000 5,000 8,104 9,000 9,222 9,222 12,104 5,000 17,104 Donated goods and services Portsmouth City Council provides the premises at Portsrnoulh from which the charity operates at a redUd rent. The assislance for the year has been valuea at £9,000 (2023- £9,000) Income from charitable activities Unrestricted Restricted funds funds 2024 2024 Total Unrestricted Restricted funds funds 2023 2023 Total 2024 2023 Provision of advisory SeiceS Other income 84.237 1.343.073 1.427.310 43,108 1,187,941 3.322 1,231.049 3,322 84,237 1,343,073 1,427.310 46,430 1,187,941 1,234.371 Income from investments Unrestricted Unrestricted funds funds 2024 2023 Interest receivable 8,382 1.885 other income Unrestricted Unrestricted funds funds 2024 2023 Other income 130 6,068 16-
CITIZENS ADVICE SOLENT EAST (FORMERLY KNOWN AS CITIZENS ADVICE PORTSMOUTH) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Expenditure on charitable activities Charitable activities 2024 Charitable activities 2023 Direct costs Staff cosls Depreciation and impaient Staff and volunteer costs Premises costs Disbursements Legal and professional fees 1,187,082 13,677 15.056 38,726 2.747 7.000 1,109.555 5,223 16,326 37,323 5,129 1,264,288 1,173,556 Share of 3UPPOrt and governance costs (see note 8) Support Govemance 68,536 6,513 92,940 7.127 1,339.337 1,273,623 Analysis by fund Unreslricled funds Reslricled funds 14,668 1,324,669 61.797 1,211.826 1,339.337 1.273.623 Support costs allocated to activities 2024 2023 Support costs Governance costs 68,536 6,513 92,940 7,127 75,049 100,067 Analysed between: Lhantable activities 75,049 100,067 2024 2023 Governance costs comprise: Audit fees Accountancy Legal and professional 4,224 1.656 633 4,020 1,440 1,667 6,513 7,127 17-
CITIZENS ADVICE SOLENT EAST (FORMERLY KNOWN AS CITIZENS ADVICE PORTSMOUTH) NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Support costs allocated to activities (Continued) I support costs incurred in the currcnt and comparative years arc attributed to Offi cosls and are allocated on a direct cost basis to charitable activities. Governan costs includes payments to the auditors of £5,880 {2023. £5.4601 for audit and preparation of financial statements_ Trustees None of the Iruslees (or any persons connected wilh Ihem) reiVed any remuneralion or benefits from the charity during the year. During the year trustee office expenses of £107 12023: £nil) were reimbursed to one trustee {2023: no trustees). 10 Employees The average monthly number of employees during the year was.. 2024 Number 2023 Number Average full time equivalent number of staff employed 50 50 Employment costs 2024 2023 dges and salaries Social security Costs other pension costs 1,087.401 82,634 17.047 1.016.791 77,761 15.003 1,187.082 1.109.555 The number of employees whose annual remuneration was rnore than £60.000 15 as follows." 2024 Number 2023 Number £60,000 to £70,000 Remuneration of key management personnel Thc rcmuncration of kcy managcmcnl p¢ronn¢] is as follows. 2024 2023 Aggregate compensation 69,622 59,559 18-
CITIZENS ADVICE SOLENT EAST (FORMERLY KNOWN AS CITIZENS ADVICE PORTSMOUTH) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 11 Taxation The charity is exèmpt from la%alir)n nn ils artiviligs hpr2iJqe. 811 its rncome is applied for charitable purposes. 12 Tangible fixed assets Fixturns and ffttings Computers Total Cost At 1 April 2023 Additions Disposals 31,168 10.308 (31.1681 56.253 17.811 140,4261 87,421 28.119 (71,5941 At 31 March 2024 10.308 33,638 43.946 Depreciation and Impairment Al 1 April ?023 Depreciation charged in the year Eliminated in resped of disposals 31,168 2.576 (31,168) 45,649 11,101 140,426) 76.817 13,677 (71,5941 At 31 March 2024 2.576 16,324 18,900 Carrying amount At 31 March 2024 7,732 17,314 25,046 At 31 March 2023 10,604 10.6D4 13 Debtors 2024 2023 Amount5 falllng due wlthln one year. Trade debtors Prepayments and accrued income 28,336 50.246 32,859 3,813 78,582 36,672 14 Loans and overdrafts 2Q24 2023 Other loans 6,000 Payable wilhin one year 6,000 In April 2013, the Bureau received a loan from Portsmouth Cty Counul to finance the exil charge trom the Local Govemment Pension Scheme. The loan was secured by a floating charge over the assets of the Bureau and has been fully repaid in the year. 19-
CITIZENS ADVICE SOLENT EAST (FORMERLY KNOWN AS CITIZENS ADVICE PORTSMOUTH) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 15 Creditors: amounts falling due within one year 2024 2023 Borrowings Other taxation and social security Trade creditors other creditors Accruals and deferred income 6,000 19,798 2,190 3.666 35.629 19,847 9.598 2.991 16.125 48.561 67.283 Deferred income of £3.750 (2023-. £nil) in relation to grant amounts received in advan. 16 Restricted funds The restricted funds of the charity comprise the unexpended balanS of donations and grants held on trust subject to specific conditions by donors as to how Ihey may be used. At 1 April 2023 Incolning resources Resources expended Transfers At 31 March 2024 Access to Justice Forces for Families Translation Veterans Covenant Force for Change Help to Claim HIWCF Home and Well British Red Cross National Lottery Scams CENF Macmillan Hampshire MaPS Montague Neville Dumford & St Leo Cawthan NHS Puilsiiiuulli CCG P&W Trust Cost of Living PCC - Debts & benefits PCC - Generalist PCC - Multiply 10,917 64.875 2,000 2,250 16.336 7,390 512,323 1.000 35,902 66,484 74,300 12,035 79.358 338.019 164,467) {2,000) (4.872) {16,522) 17.700) (489,758) 17,664} {32,858) (64,8761 (68,6031 (13,3611 (72,6531 1324.3321 11,325 5,207 2,585 310 23,931 4.441 46.496 2,223 3.044 1,608 5.697 1.326 6,705 13.687 5,000 19,055 {5,0501 (19.0551 50 588 15.000 9,152 {588) {15,0001 {33,5681 (32,5701 {49,760) 24.416 32,570 49,760 69,236 1.343.073 {1.324.669) 3,507 91,147 -20-
CITIZENS ADVICE SOLENT EAST (FORMERLY KNOWN AS CITIZENS ADVICE PORTSMOUTH) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 16 Restricted funds (Continued) Prpvloiis ypar: At l April 2022 Incoming resources Resoiir¢es expended Transfers Al 31 Mar¢h 2023 Access lo Justice ForGe5 for Families Translation Help to Claim Suicide Prevention HIVE HIWCF Home and Well Immigration Macmillan Hampshire MaPS Mental Health ASK NHS Portsmouth CCG P&W Trust Cost of Living pcc 19.672 3.745 (8.755) (11,931) {200} {468,495) 10,917 8.186 5.407 8.609 6.080 524 2,316 5,207 23,931 483.817 (6.080) 797 (2,316) 2,841 14,462 2,013 246 (9471 328 1,000 10,050 56.000 35,965 67,597 4M.53 {2,321) (5,6091 (58,841) (50,427) (69,610) {488.905} 4,441 44.120 19.055 (19.383) 588 588 15,000 9,152 15.000 36,500 {27,3481 76.777 1.192.940 {1,211.8251 11.344 69.236 Access to Justi was received from the Community Justice Fund to improve access lo advice particularly in relation to Welfare Benefits and Employment specialist advice seNices. Forces for Families was received from Citizens AdvÉce forArmed For$ Veterans Pilot Project. Funds were received from Hampshire & Isle Of Wghl Communty Foundation to provide translation setvices to service users. Funds were received from Atrned Forces Covenant of £98,656 over years for the Forces Home Straighl Project. Funds were received from Portsmouth Covenant Fund for the Amied Forces Force for Change Project. Funds were received from Citizens Advi for Help to Claim Project delivery including money advice and Universal Credit advice services. Funds were received from Hampshire & Isle Of Wght Community Foundation IHIWCF) lo fund hardship payments. Home and Well was reiVed from Cittzens Advi Hampshi to provide an advisor for a Hampshire-wide service that aims lo addres5 the impact of col¢ homes, reduce water usage anu Oills. National Lottery fijnds were received for Holists"c Debt Advice Services. Funds were received ft)rm the Police and Crime Commissioner for a SCAMS prevention project. Funds were received from Citizens Advice Hampshire in partnership wth Macmillan Cancer Support to provide a specialist Servi for people affected by cancer, their families and carers, living in Hampshire. Users benefit from access to the full range of CAP advi. 21
CITIZENS ADVICE SOLENT EAST (FORMERLY KNOWN AS CITIZENS ADVICE PORTSMOUTH) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 16 Restrlcted funds {Continued Maps funding was rc¢civcd from Gitiz¢ns Advi¢c to support thc provision of money advi seThices to the public. This consisted of face-to-face. web and telephone sessions. Funds were received from Montague Neville Dumford & St Leo Cawthan for Support to Naval For$ and veterans over 50. NHS Portsmouth CCG fijnds were used to cover the cost of a project worker. offering home visits for debt and generalist advi to families with children undergoing palliative care. Funds were received from Citizens Advice to enable local offiS to support or increase direct service delivery capacity. to help our clients through the cost of living crisis. Funds were received from the British Red Cross to fund our specialist immigration advice service. Portsmouth Cty Council provided funds to assist people in Portsmouth at risk of financial hardship who would benefit from money advice. Further funds were provided to deliver a targeted numeracy provision to adults aged 19 and above. Funds were received from Citizens Advice for the delivery of money advi and Universal Credit advice services. The Social Development Fund was reived from the HIVE in the previous year for the provision of small grants lo clients in need. Southampton City Council provided a Suicide Prevention Service to the public. Mental Health Ask was received from the National Lottery Community Fund to run a pilot project on mitigating the links between mental health and debt. 17 Unrestricted funds I"he unrestncled funds of the chanty comprise the unexpended balances of donations and grants which are not subject to specific condib'ons by donors and grantors as to how they may be used. At 1 April 2023 Incoming resources Resources expended Transfers At 31 March 2024 General funds 277.345 101.971 (14.6681 (3,5071 361,141 Previous year- At 1 April 2022 Incomlng resources Resources expended Transfers At 31 March 2023 General funds 283.999 66.487 161.7971 (11.3441 277,345
CITIZENS ADVICE SOLENT EAST (FORMERLY KNOWN AS CITIZENS ADVICE PORTSMOUTH) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 18 Analysis of net assets between funds Unrgstricted funds 2024 Restricted funds 2024 Total 2024 Fund balances at 31 March 2024 are represented by: Tangible assets Current assetsl{liabilities) 2S,U4t• 336.095 25.V4ti 427,242 91,147 361,141 91.147 452,288 Unrestrlcted funds 2023 Restrlcted funds 2023 Total 2023 Fund balances at 31 March 2023 are represented by: Tangible assets Current asselsl(liabilities) 10.604 266.741 10.604 335.977 69.236 277.345 69,236 346.581 19 Operating lease commitments Lessee At the reporting end date the charity had outstanding commrtments for fLrture minimum lease payments under non-cancellable operating leases, which fall due as follows.. 2024 2023 wthin one year Between 0 and five years 24,426 20,292 26,904 41,866 44,718 68,770 During the year. the charitable company made payrnents under operating leases totaling £24,426 (2023- £20.570) 20 Events after the reporting date On 1 October 2024. a merge transfer was completed of Citizens Advice Solent East and Cit12ens Advi Havant. Both entities share the same charitable aims. All assets, liabilities, staff and volunteers were transferred to the newly-named Citrzens Advice Solent East. 21 Related paty transactlons There were no disdosable related party transactions during the year12023 - none). -23-
CITIZENS ADVICE SOLENT EAST (FORMERLY KNOWN AS CITIZENS ADVICE PORTSMOUTH) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 22 Cash generated from operations 2024 2023 SurplusJ(deficit) for the year 105.707 {14,195) Adjustments for.. Investment income recognised in statement of financial activlties Depreciab"on an(J impairmerrt of tsngitjle fixed a55ets (8,3821 13,OT7 (1,8851 5.223 Movements in working capital". {Increasel in debtors (De¢aSe)linCrease in creditors {41,910) {12,722) (10.217) 23,889 Cash generated from operations 56.370 2.815 23 Analysls of changes In net funfls At 1 April 2023 Cash floAl 31 March 2024 Cash at bank and in hand 366,588 30.633 397,221 Loans falling due within one year (6,000) 6.000 360.588 36.633 397.221 -24-