REGIsfERED COMPANY NUMBER: 02947554 (England and Wales) REGISTERED CHARITY NUMBER: 1040303 REPORT OF THE TRusfEES AND FINANCIAL STATEMEKrs FOR THE YEAR ENDED 31 MARCH 2024 FOR WANDSWORTH CITIZENS ADVICE BUREAUX LIMITeD Hartley Fowler LLP statutory Audltors rtered Accourtants 4th Floor Tuitlon House 27-37 st George'5 Road Wlmbledon London SW19 4EU
WANDSWORTH CITIZENS ADVICE BUREAUX LIMITED CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Page Rep¢xt of the Trustees i to li Report of the Independent Auditors 12 to 15 Statement of Financial Actlvlties 16 Balance Sheet 17 Cash Flow Statement 18 Notes to the Financlal Statements 19 to 34
Wandsworth Citizens Advice Bureaux Limited Report of the Trustees for the year ended 31 March 2024 Objectives and Activities The Charity's objectives are to promote any charitsble purpose for the public benefit by the advancement of education, the protection and preservation of health and the relief of poverty, sickness and distress, in particular, but without limitation, for the benefit of the Gommunity in the London Borough of Wandsworth and surrounding areas ("the principal area of benefit") and elsewhere in Greater London. The main activity of the Charity is the provision of free, independent, confidential and impartial advice and information to the public on legal, civil, financial and other matters. Citizens Advice Wandsworth ("CAW) {"the Charity") helps people get the support they need and enables them to manage their lives better- often in times of crisis- by providing information and advice and having a positive influence on policy and practice. The Charity acknowledges that life is complicated and things can go wrong for all people. CAW'S free, impartial adviGe is crucial and highly valuable to individuals, the Council, government and society as a whole. The current aims of the Charity are set out in its Busine$$ and Development Plan and are regularty reviewed. The Trustees receive regular updates at Trustee Board meelings from the Chief Executive on progress against aims and objective5. Statement on public beneflt The section below covering the aGhievements and performance ofthe Charity 5et5 Out the activities carried out for public benefit. The Trustees confirm that they have complied with the duty in section 17 of the Charities Act 2011 to have due regard to public benefit guidance published by the Commission in determining the activities undertaken by the Charity In the interest of transparency, the Trustees make the following observations on the two key principles of public benefit. Principle 1: There must be an identifiable benefit or benefits It must be clear what the benefits are- these are set out below. The benefits must be related to the aims- the Trustees review the activities of the Charity against its aims on an ongoing basis and are satisfied that all activities continue to be related to the aims. Benefit5 must be balanced against any detriment or harm - no specific issues of detriment or harm have been identified. Principle 2.. Benefit must be to the public or a section of the public The beneficiaries must be appropriate to the aims the beneficiaries are people from Wandsworth and other parts of London who seek advice and assistance from the Charity. Where the benefit is to a section of the public, the opportun¢iy to benefit must not be unreasonably restricted by geographical or other restrictions,. or by the ability to pay any fees charged - the Charity's services are mainly provided to residents of the London Borough of Wand5WOrth with some projects serving surrounding areas and elsewhere in Greater London. People in poverty must not be excluded from the opportunity to benefit - the Charity's services are provided free to beneficiaries. Any private benefit5 must be incidental - several private benefit5 do necessarily arise from the activities of the Charity. In particular, the Charity finds it essential to employ and remunerate staff. These private benefits are, however, incidental as they are a necessary by-product of carying out the Charity's aims.
Wandsworth Citizens Advice Bureaux Limited Report of the Trustees for the year ended 31 March 2024 Achievements and Performance Core Advice Under our contract with Wandsworth Borough Council ("WBC'), we provided the main public advice service for local people, the Generalist Advice Service. This was accessible via the telephone Adviceline, a public online referral form and face-ttrface services based in our offices in Battersea and Roehampton. Our partners were also able to directly refer clients via online referral fonns and Refernet (a secure online referral platform). Our projects and services were able to help 7,221 individuals in 2023-24 and achieve over £6,5 million of financial benefit for Wandsworth residents. Specialist and targeted work Our Dlsablllty and Social Care Advlce S8rvic• I"DASCAS'I continued to work effectively as part of our Specialist Service, whlch is also funded by WBC under our Community Advlce Seniice contract. Clients are either referred to DASCAS by Wandsworth Social Services or member5 of our team when they identify clients with disabilities or long-term health conditions that need benefits a551Stance, often through home visits. Our Cost of Living Project team, funded by an additional Grant from Wandsworth Borough Council, worked alongside our Generalist Service, providing additional capacity that allowed us to respond quickly and ensure we Gould help resident5 facing immediate hardship due to financial issues. The project team a150 delivered Advice First Aid training, with support from our Crisis Project, and talked about cost of living issues at event5 organised by partners. We took part in a pilot corporate donation programme facilitated by national Citizens Advice. This involved National Grid seconding a member of staff to volunteer wth us full-time for 12 months. Our National Grid volunteer worked on Adviceline and made a significant contribution to service delivery. They also gave very positive feedback about our services and the experience of volunteering wth u5. We coordinated a Domestic Violence One Stop Shop in partnership with Wand5WQrth Borough Council to provide a drop-in service In Roehampton for women experiencing domestic violence. The Greater London Authorlty commissioned a Pan-London expansion of our Advice First Aid training work. Our Pan-London Lead manager has delivered AFA training in partnership with Local Citizens Advice offices across London. Our Propol project is working with community partners in Wandsworth and other London Citizens Advice offices to increase diversity in our workforce and to support trainees from community organisations within the Advice sector. We have been funded by Trust for London to expand our Employment advice. As well a5 giving advice to Wandsworth residents on employment matters, we workwith Citizens Advice offiGe$ across London to increase their knowledge and understanding of employment advice. Our Roehampton Community Capacity Bulldlng project, funded by public health, continues to host monthly Roehampton Response Network meetings, bringing together members of the community lo learn and share activities and opportunities in one of the most deprived vRrds in Wandsworth.
Wandsworth Citizens Advice Bureaux Limited Report of the Trustees for the year ended 31 March 2024 Our Homelessness R8duction Act project adviser continued to deliver housing, benefits and debt advice to people threatened with homelessness, a service funded by WBC. Cardinal Management funded an advice service for Major Trauma patients at st George's Hospital in Tooting. Funding from the South West London Integrated Care System continued to enable CAW to provide a Patlent Welfare Advlce Service for GP patients in three of Wandsworth's Primary Care NeOrkS (Battersea, Wandle and West Wandsworth). Since the introduction of social prescribing in the Borough, the link workers, attached to the GP prathces, have referred patients on behatf of GPS. Working in partnership with Citizens Advice Croydon, people affected by cancer were provided with welfare benefft advice by CAWS team of ttvo Macmillan advisers. The Help Through Hardship Crisis Project, funded by the Natlonal Lottery through the Blg Lottery Fund, provides advice for people in hardship crisis, training for community-based volunteers in Advice First Aid. and co-ordinates a hardship crisis network fcr the Borough. The project is delivered in partnership with Wandsworth Community Empowerment NeOrk wlth 1,4 full time equivalent advisers and a Project Manager employed to deliver the project. Through this project CAW a150 upskilled local partners to provide accurate information to their communities by providing trainlng, information sessions and support with cases through AFA training. Funded by City Bridge Trust, the Speclalist Housing Advice adviser provided in-depth advice and casework service to clients on their housing rights and duties. The main areas of advice included hcmelessness, suitability of temporary accommodation, security of tenure, possession proceedings, disrepair, and re-housir)g options. Funding from bath Trussell (formerly the Trussell Trust) and the Henry Smith Charity has enabled us to employ a Foodbank AdviGe team to deliver advice in foodbanks across Wandsworth, reaching people at point of crisis and working to reduce long-terrn reliance on emergency foodbank provision. Roehampton Unlversity We continued to work with Roehampton University's Law School during 2023-24. A grant from the university allowed us to provide volunteering opportunities for law sludents who provided much needed additional capacity and enabled the students to gain practical skills and experience. Our impact For every £1 Wandsworth Council invested in our core advice service In 2023-24, we estimate that we generated.. £6.41 in savings for government and public seniices (fiscal benefits), totalling £3,695,522. £37.79 in wlder economic and social benefits (public value), totalling £21,772,908 £24.57 in financial value to the people we help {outcomes for individuals), totalling £14,157,486
Wandsworth Citizens Advice Bureaux Limited Report of the Trustees for the year ended 31 March 2024 Client feedback Citizens Advice nationally uses an independent agency to seek feedback from clients., the results are fed back quarterly, scrutinized and reflected upon routinely in orderto inform seNice improvement and development. Our team are proud that our client feedback and quality scores remained good throughout 2023-24. 72DA of people surveyed said their problem was solved following advice and, 880/0 said they could not have resolved their problem without us. Our servlces are for everyone, but we recognise that the people who need us most are likely to come from groups that experience the greatest hardship, poverty and discrimination. 580k of our clients are people of colour, compared to 32% of people in Wandsworth, as a whole. 580h of clients have a disability or long-term health condition, compared to 15% of the Borough's population. "Your team's dedicatlon to asslsting Indlvlduals Ilke myself is truly commendable.. It is reassurlng to know that there are organisatlons like yours that genuinely care for the well-being ol the community and vulnerable people" Client advised by a Welfare Benefits specialist caseworker "Because of your help I was able to feed my kids, 80 forthat l am vory grateful" Client advised by our Foodbank Advice team "I was put in touch via my GP. My adviserhas saved me in ways she may not know. She is 80 SUPPOrtive, underntandingi helpful and patlent and took the time to actually listen and hear my problems." Client advised by our Patient Welfare Advice Service. Research and campaigns and local leadershlp Being influential by developing and contributing to research and Campaign activity that leads to improvements in policy and practice and prevents problems and systemic failure, is an important aspect of our work. We also know the importance of local collaboration and work hard to ensure that our client5 have as smooth a journey. as possible between local services. Our work includes public information campaigns, coordination of policy forums and collection of evidence and research data on the problems and issues dealt with by our advice services. We play an impartant role in the local voluntary and community sector- planning and coordinatin9 activity and ensuring that other agencies are kept informed. In 2023-24.. We worked closely with other local voluntary sector agenciesto raise concerns and advocate for better local support for re51dents. Notably we worked with Wandsworth Foodbank, South West London Law Centres, and Katherine Low Settlement. Team members attended monthly Welfare Refonn meetings, The group monitors loGal data, including the number of Universal Credit claim5, social fund claims and payments, Council Tax Fieduction claims, Local Authority rent arrears etc., and pushes for better local action to support residents. We were proactive in encouraging and facilitating the up skilling of local voluntary and Gommunity agencies on advice issues, establishing new in-person and online Advice First Aid training courses which kept local partners up to date with the changing legal framework.
Wandsworth Citizens Advice Bureaux Limited Report of the Trustees for the year ended 31 March 2024 Volunteer contributions A vital part of CAWS activity is the engagement of volunteers in the delivery of its services, research, and ampaigns. Over 80 volunteers (including Trustees) supported us in 2023-24. Volunteers were recruited and trained by CAW'S volunteer and training team. Our volunteers give their time, skills and experience to enable us to reach as many peeple as we do. The value of the time our volunteers gave during the year was over £700,000. Equity, diversity and inclusion In the past year we've updated our EDI policy to refiect our ongoing commitment to EDI and particularly our commitment a5 an organisation to embedding EDI into our business planning and our comrnitment to continuous learning in relation to EDI related issues. Our team have compulsory EDI training, Set an EDI related objective which is monitored at annual appraisals, and are encouraged to come together to watch films related to EDI issues affecting our clients. We have an EDI working group of staff and volunteers that rnet regularly to review EDI business objectives and give insight into how we can improve policie5, procedures and culture to make CAW a more diverse and inclusive place to work while offering a service that removes barrier to access and reaches Wandsworth'5 diverse communities. Plans for future periods 2024-25 will be another year of challenge for us the enduring impact of the Ccst of Living crisis on local residents, and disproportionately on people already facing disadvantage, means that demand remains at levels far higher than before the COVID pandemic. Our Glients, challenges are often more complex and it can often be harder for our team to find solutions. With that in mind. Our main goal in 2024-25 is to retain and where possible enhance our Gapacity to give advice, viith an ongoing focus on people facing extreme poverty and multiple disadvantsges. We remain enduringly grateful to the local and national funders who continue to support ourwork. We know that they also face financial challenges, making their commitment even more valued. In 2024-25 we have also been successful in securing a significantfive-year core Grantfor Improving Lives Through Advice whichwill enable us to enhance our commitment to positively address inequality and ensure greater continuity across our core seniice and project5. With secure funding for 2024-25 our central aims are to.. 1. Be a great place to work and volunteer We will maintain a resilient, committed and flexible workforce by 5UStaining a culture and practices that align with our value5, and invest in our whole team's capability and ski115 $0 everyone is supported to contribute to the best of their ability. 2. Glve people the skills. tools and expert support they need We give people the knowledge and the confidence they need to find their way foTward - whoever they are, and whatever their problem. To achieve this, we need to provide high quality advice to our clients, maintain good access for the people who use our service5 and do more to reach the people who are not yet accessing them. 3. Build and malntsin strong and effective partnerships We reGognise the role that advice for individuals plays in complementing the work of statutory agencies. we will yrk collaboratively with these agencies for the benefit of our clients. We also know that compared with many
Wandsworth Citizens Advice Bureaux Limited Report of the Trustees for the year ended 31 March 2024 of our community partners we are a large 11-fUnded organisation that benefits from organisational and structural privilege - we want to have strong partnerships to improve our reach, gain reputation and learn from other organisations. 4. Be a strong and resilient oryanlsation We recognise that our ability to help others relies on our own resilience as an organisation. This resilience starts with strong leadership that shows an ongoing commitment to putting our clients first and manifesting our core values in all that we do. We acknowledge that we are financially privileged compared with many other Cit12ens Advice and that this stems, to a significant degree in our longstanding and successful partnership with Wandsworth Borough Council. We will continue to enhance this partnership with a portfolio of funding from a wide range of sources and operate with due regard for our financial resources. We will continue to maintain a healthy reserve and manage operational and financial risks effectively. We operate in a highly-regulated environment.. we are registered with the Charty Commission and Companies House, we hold the Advice Service Alliance quality standard5 and are regulated by the Financial Conduct Authority. Our advice work is regularly audited for the protection of our clients. In this environment it is imperatlve that, with support from natlonal Citizens Advice, we ensure compliance through effective systems and practices.
Wandsworth Citizens Advice Bureaux Limited Report of the Trustees for the year ended 31 March 2024 Financial Review Financlal Perfomiance Against the backdrop of continued funding challenges for the charity sector, 2023-24 was a year of significant progress and accomplishments for CAW. Total income increased to £2,132,160 (2023.. £1,874,920) during the current financial year. Total expenditure in the same period increased to £2,082,056 (2023-. £1,604,920) Balance Sheet Total cash balance was £1,109,578 (2023: £608,505) supported by grants received in advance. Working capital increased to £665,282 (2023.. £618,588). A liability for future pension payment5 has been included on the balance sheet and the pension reserve has increased to £80,121 (2023.. £78,808). Reserves Policy The Trustee Board revlews the reserve5 policy each year to consider the appropriate level of unrestricted reserves. The Trustees believe that svfficienl resenies are necessary to balance the growing needs of the Charity to absorb setback5 and to take advantage of opportunltles to meet our charitable objectives. CAW holds reserves prlmarily to.. Safeguard the Charity'5 service commitment in the event of delays in receipt of grants or income,. Provide financial contingency against risks and uncertaintie5, and allow the Charity to meet any legal obligats'ons that might arise from any materialisation of those risks and uncertainties., and Fund the research and development of services and initiatives. In the event of a contract being terminated or not renewed by a funder, some roles may become redundant. While we operate on a going concern basis there is no certainty that existing contracts will be renewed at exists'ng levels and, therefore, provision for redundancy costs will need to be Made. The Trustees have decided that the Charity's minimum reserves requirement as being.. Three to six months operating expenditure (excluding disbursements and depreciation) - equivalent to £435,000 (2023.. £368,000). Therefore, forthis financial yearthe minimum reserves requirement should increase from £368,000 to £435,000. Our restricted funds dc not form part of the reserve policy. Golng Concern CAW has strong Gash flows and has secured funding for the next twelve month5. We, therefore, believe Ihat there are sufficient resources to meet our liabilities as they fall due. The Trustees review financial projections, management accounts, Balance sheet and cash flow projections quarterly to review and assess compliance with the reserves policy and the potential impact of any adverse economic condition on the Charity's income and planned expenditure. Therefore, we do not believe there are material uncertainties that call into doubt the Charity's ability to uperate as a going concern for the foreseeable future. Investment Policy The Trustee5 adopt a low risk strategy to manage the Charity's cash flows and reserves not immediately required by the organisation. We have decided to not invest funds in any product that carries risk to the security of capital and only invest funds in financial products that qualify for the Financial Services Compensation Scheme. Accordingly, our excess funds are invested in fixed rate bonds up to a maturity of one year and high
Wandsworth Citizens Advice Bureaux Limited Report of the Trustees for the year ended 31 March 2024 interest deposit accounts with UK based financial institLrtions. Wlthin these limits, we seek to provide the best returns on investment while maintaining necessary liquidity of funds. This policy is reviewed each year in the light of any Ghanges to financial conditions. Structure and governance Constitution and organisational structure The Charity is a company limited by guarantee, incorporated on 12 July 1994, and registered as a charity on 19 August 1994. The Memorandum and Articles of Association were last amended by special resolution dated February 2022. The fvll Trustee Board met quarterly during 2023-24. Sub-committees with responsibility for Finance, and People helped to explore and prepare for Board decisions. The Board retained responsibility and oversight. The Trustee Board conducts a review of its performance annually. The operation of the Charity 1$ managed by the Chief Executive, Deputy Chief Executive (a new role from April 20231, Head of Projects, and Office Manager, with an outsourced contractor, reporting to the Chief Executive, responsible for the finance and accounting of the Charity. Our long-standlng Chief Executive Mary- Ann Foxwell left at the end of March 2023, with an interim appointed prior to Jeremy Sandell joining as Chlef Executive from Citizens Advice East Berkshire in July 2023. The pay for the organisation's Chief Executive and Deputy Chief Executive was set durlng the 2023 recruitment (having been benchmarked by the Trustee recruitrnent panel). Pay for all other staff roles wa5 Set following a benchmarking exercise by the Executive Team and is described in a written policy document. Recruitment and appointment of Trustees Trustees are appointed and offer themselves for re-election at the Annual General Meeting {"AGM°). At the Ordinary meeting of the Trustee Board immediately preceding the AGM, member organisations are reviewed and any applications for representation on the Board are considered. Trustees can also be co-opted by the Trustee Board, provided that the total number of Co-opted and nominated Trustees does not exceed one third of the total number of Trustees. All elected Trustees retire from office after a three-year term but may be re- elected. Induction and training of trustees New Trustees undertake an induction programme covering the role of a Trustee, relevant Charity Commission guidance and extensive information on the work of Citizens Advice Wandsworth. In addition, Trustees have access to training via Citizens Advice and are encouraged to visit and spend time at individual advice centres operated by Citizens Advice Wandsworth. Risk mitigation The Chief Executive, together with the Trustee Board, analyses and agrees management and mitigation of the major risks to the Charity periodically and when preparing and updating the Business and Development Plan. Risk analysis evaluates the likelihood and severity of the impact to the organisation. Related Organisations The Charity 15 a member of Citizens Advice, a national network of over 280 charities that deliver across the country. overseen by a national framework provided by Citizen5 Advice.
Wandsworth Citizens Advice Bureaux Limited Report of the Trustees for the year ended 31 March 2024 As a member of the national Citizens Advice network all our advice work is subject to professional quality assurance standards so we can ensure the best standard of support is being consistently delivered. Infonnation Assurance CAW has adopted the recommended Citizens Advice Infomiation Assurance and Data Protection policy. All decisions on how to rnanage information risks within the Charity are derived from our wish to maintain a low level of risk. We ensure our information risk policy is reviewed regularly so that it remain5 comprehensive and effective at the following intervals andlor after the followng event5.. al annually,. bl whenever significant amendments or additians are required le.g. by Changes in law or other compliance obligations). and c) after data loss incident, if required. All significant information risks are documented in an appropriate section of the risk register, which is reviewed at regular intenrfals by the TfUStee 8oard. All information assurance policies and procedure5 are reviewed annually. Legal and Administrative Information The Charity is a cornpany limited by guarantee, incorporated on 12 July 1994, and registered as a charty on 19 August 1994. Wandsworth Citizens Advice Bureaux Ltd isthe registered name ofthe company. It commonly trades as Citizens Advice Wandsworth I'CAW.). Governlng documents Memorandum and Articles ofAssociation amended by special resolutions on 24 April 2002, 4 October 2006, 16 September 2009, 19 October 2016, 22 November 2018, and 3 February 2020 Company number Charity number Rogl$ter8d Offlce: Roehampton Office: 02947554 1040303 Battersea Llbrary, 265 Lavender Hill, SW11 1JB Picasso Building, Mlnstead Gardens, SW15 4EE Current Trustees (also directors under company law) Jonathan Mogford Co-vice Chair Appointed 25 July 2018 Appointed 21 November 2018 Appointed 21 November 2018 Appointed 28 July 2020 Appointed 28 July 2020 Appointed 28 July 2020 Appointed 21 February 2023 Appointed 21 February 2023 Appointed 8 January 2024 Ben Dulieu Chair Dylan Brooks Lauren Beth lannarone Sumathi Narayanan Menon Susan Jane Wixley C(FVice Chair Abdirahman Xirsi Armando Urdaneta Anshuk Shama Treasurer
Wandsworth Citizens Advice Bureaux Limited Report of the Trustees for the year ended 31 March 2024 Retir8d Trustees Lucy Harmer Chair Retired 31 Octaber 2023 Kalai Chau Treasurer Retired 25 July 2023 Susan Marshall Retired 30 January 2024 Senior stsff Justin lTrvin Interim Chief Executive Left 16 July 2023 Harriet Plows Head of Projects Left 29 May 2024 Hannah-Leigh Morgan Office Manager and Company Secretary Chief Executive Left 14 September 2023 Jeremy Sandell From 17 July 2023 Tom Segurola Deputy Chlef Executive From 23 Aprll 2023 Bankers Barclays Bank plc 83 Wandsworth High Street London SW18 2PR CAF Bank 25 Kings Hill Avenue Kings Hill, West Malling Kent ME19 4JQ Auditor Hartley FOer LLP 4th Floor Tuition House 27137 Sl George's Road London SW19 4EU The Trustees of the charity (who are the directors of the charity for company law purposes) present their report and the audited financial accounts for the year ended 31 March 2024. The Trustees confirm that the annual report and financial statements comply with current statutory requirements, the requirements of the Charity's goveming document and the provisions of the Statement of Recommended Practice I'SORP.) applicable to charities preparing these accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland ("FRS102"1 (effective 1 January 2019). Statement of Trustees, Responsibilities The Trustees (who are also directors of the charitable company for the purposes of company law) are responsible for preparing the Trustees, Report and the financial statements in accordance with applicable law and regulations. Company law require5 the Trustees to prepare financial statements for each financial year, Under that lawthe Trustees have elected to prepare the financial statements in accordance with the United Kingdom generally Accepted Accounting Practice (United Kingdom Accounting Standard and applicable lawl. Under company law, the Trustees must not approve the company financial statements unless they are satisfied that they give a true and fair view ofthe stste of affairs ofthe charitable company and ofthe incoming resources 10
Wandsworth Citizens Advice Bureaux Limited Report of the Trustees for the year ended 31 March 2024 and application of resource5, including Ihe income and expenditure of the charitable company for that period. In preparing these financial slalemenls, the Trustees are required lo.. Select suitable aceounling policies and then apply them consistently.. Observe the methods and principles in the Charities SORP, Make judgements and eslimaies Ihal are reasonable and prudent., State whether applicable UK Accounting standards have been followed, subject to any material departures disclosed and explained in the financial slalemenls., and Prepare the financial slalemenls on Ihe going concern basis unless il is in3pprapriale lo presume that that the charitable company will continue in business. The Trustees are responsible for keeping adequate accounting records that are sufficient lo show and explain the charltable company'5 Iransaclions and disclose with reasonabl8 accuracy al any lime the financial posilion of the charitable company ond enable them to ensure that the financial slalements comply with the Companies Act 2006. They are also responsible for safeguarding the assets ol the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularilles. In 50 far as we are aware.. There is no relevant audll information of which the charitable company's auditor is unaware: and The Trustees have taken all steps that they ought lo have laken lo make themselves aware of any relevant audit information ancl lo establish Ihat the aLJdiloT is aware of Ihal informalion. Members of Ihe charitable Company guarantee to conlribule an amounl nol exceeding £1 lo the assets of the charitable company in the event of winding up. The lolal number of such guarantees al 31 March 2024 was 18 12023-. 181. The Truslees have no beneficial interesl in Ihe charitable company. Auditors The auditor5, Hartley Fowler LLP, will be proposed lor re-dppoinlmenl in accordance wilh Section 485 of Ihe Companies Act 2006. This report has been prepared in accordance with Ihe special provisions ol part 15 01 Companies Acl 2006 relating lo small companies. Approval This report was approved y the Board ol Trustees on 281h January 2025 and signed on their b8h8lf by.. Anshuk S Treasurer rma
Wandsworth Citizens Advi Bureaux Limited Report of the Trustees for the year ended 31 March 2024 Report of the Independent Auditors to the members of Wandsworth Citizens Advice Bureaux Limited for the year ended 31 March 2024 Opinion We have audited the financial statements of Wandsworth Citizens Advice Bureaux Limited (the "charitsble company") for the year ended 31 March 2024 which comprise the Statement of Financial Activities, the ststement of Financial Position, the Statement of Cash Flows and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). In our opinion the financial statements.. give a true and fair view of the state of the charitable company's affairs as at 31 March 2024 and of its incoming resources and application of resources, inGluding its income and expenditure, for the year then ended., have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice, and have been prepared in accordance with the requirements ofthe Companies Act 2006. Basls for oplnlon We conducted our audit in accordance with International Standards on Auditing (UK) ('ISAs (UK).) and applicable law. Our responsibilities under those standards are further described in the Auditors responsibilities for the audit of the f5nancial ststements section of our report. We are independent of the charitable company in accordance wth the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC'S Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide basis for our opinion. Conclusions relating to golng Goncern In auditing the financial statements, we have concluded that the trustees, use of the going concern basis of accountlng in the preparation of the financial statements is appropriate. Based on the we have performed, we have not identified any materlal uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company's ability to continue as a going concern for a period of at least e1ve months from when the financial statements are authorised for issue. Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of thi5 report. 12
Wandsworth Citizens Advice Bureaux Limited Report of the Trustees for the year ended 31 March 2024 Other information The trustees are responsible for the other information. The other information comprises the information included in the Annual Report, other than the financial ststements and our Report of the Independent Auditors thereon. Our opinion on the financial statements does not cover the other inforrnation and, except to the extent othepNise expliciuy stated in our report, we do not expre55 any form of assurance conclusion thereon. In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this give5 rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard. Oplnion on other matters prescrlbed by the Companies Act 2006 In our oplnion, based on the work undertaken in the course ofthe audll: the information given in the Report of the Trustees for the financial year far which the financial statements are prepared is consistent with the financial statements., and the Report of the Trustee5 has been prepared in accordance with applicable legal requirements. Matters on whlch we are required to report by exception In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Report of the Trustees. We have nothing to report in respect of the followlng matters where the Companies Act 2006 requires us to report to you if, in our opinion.. adequate accounting records have not been kept or returns adequate for our audlt have not been received from branche8 nct visited by us., or the financial Statements are not in agreement with the accounting records and returns., or certain disc105ures of trustees, remuneration specified by law are not made., or we have not received all the information and explanations we require for our audit. The trustees were not entitled to take advantage of the small companies exemption from the requirement to prepare a Strategic Report or in preparing the Report of the Trustees. Responsibillties of trustees As explained more fully in the Statement of Trustees Responsibilities, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees detemiine is necessary to enable the preparation of financial Statements that are free from material misstatement, whether due to fraud or error. 13
Wandsworth Citizens Advice Bureaux Limited Report of the Trustees for the year ended 31 March 2024 In preparing the financial statements, the trustees are responsible for assessing the charitable company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so. Our responsibillties for the audlt of the financlal statements Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Independent Auditor5 that includes our opinion. Reasonable assurance is a high level of assurance, but Is not a guarantee that an audit conducted in accordance with ISAS (UK) will always detect a material misstatement when it exists. Misstatements Gan arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to infbuence the economic decisions of users taken on the basis of these financial statements. Irregularities, including fraud, are instanGes of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlines above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below., We identify and assess risk8 of materlal misstatement ofthe financial statement, whether due to fraud or error. and then design and perform audit procedures responsive to those risks, including obtaining audil evidence that is sufficient and appropriate to provide a basis of our oplnlon. In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and non- compliance with laws and regulations, we considered the following.. The nature of the industry and sector, control environment and the charitles activities,. results of our enquiries of management about their own identification and assessment of the risks of irregularities., any matters we identified having obtained and reviewed the charitable company's documentation of their pollcies and procedures relating to., identifying, evaluating and complying with laws and regulatlons and whether they were aware of any Instances Df non-Gompliance' detecting and responding to the risks of fraud and whether they have knowledge of any actual, suspected or alleged fraud., the internal controls established to mitigate risks of fraud or non-complanCe with laws and regulations., and the matters discussed among the audit engagement team regarding how and where fraud might occur in the financial statements and any potential indicators of fraud. As a result of these procedure5, we considered the opportunities and incentives that may exist within the organisation for fraud. In common with all adults we also required to perform specific procedures to respond to the risk of rnanagement override. We also obtained an understanding of the legal and regulatory framework that the charitable company operates in. The key laws and regulations we considered in this context included the Charities Act 2011, UK Companies Act and tax legislation. In addition, we considered provisions of other laws and regulations that do not have a direct effect on the financial statements but ccmpliance with which may be fundamental to the charitable company's ability to operate or to avoid a material penalty. 14
Wandsworth Citizens Advice Bureaux Limited Report of the Trustees for the year ended 31 March 2024 As a result of performing the above, we did not identify any key matters related to the potential risk of fraud or non-compliance with laws and regulations. Our procedures to respond to risks identified included the following: reviewing the financial statement disclosures and testing to supporting documentstion to assess compliance with provision of relevant laws and regulations described as having a direct effect on the financial statements., enquiring of management concerning actual and potenb'al liiigation and claims., perfomiing analytical procedures to identify any unusual or unexpected relationships that may indicate risks of material misstatement due to fraud- reviewing minutes of meeting af those charged with govemance, reviewing internal reports, and in addressing the risk of fraud through management override of controls, testing the appropriateness of journal entries and other adjustments, assessing whether the judgements made in making accounting estimates are indicatlve of a potential blas and evaluating the business rationale for any significant transactions that are unusual or outside the normal course of busine55. We also communicated relevant identified laws and regulations and potential fraud risks to all engagement team members and remained alert to any indication of fraud or non-compllance with laws and regulations throughout the audit. A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website atwwN.frc.org.uklauditorsrespon5ibilities. This description forms part ofour Report of the Independent Auditors. Use of our report This report is made 501ely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so thatwe might state tothe charitable company's members those matters we are required to state to them in an auditors, report and for no other purpose. To the fullest extent permitted by law. we do not accept or assume responsibility to anyone other than the charitable company and the charitable company's members as a body, for our audit vrk, for this report, or for the opinions we have formed. Jonathan w FCA (Se Hartley Fowler LLP Hart Statutory Auditors Chartered Accountant5 4th Floor Tuition House 27137 St George'5 Road Wimbledon London SW19 4EU ior Statutory Auditor) Fowler LLP
Wandsworth Citizens Advice Bureaux Limited ststement of financial activities (incorporating income and expenditure account) For the ear ended 31 March 2024 Notes Restricted Unrestricted 2024 2023 Income Donations Charitable activities: advice and Other trading activities Investments 6,757 672,143 5,537 13,606 6,757 2,106.260 5.537 13,606 2,403 1,662,747 5.000 4,770 1,434,117 Total Incomlng resources 1.434,117 698,043 2,132,160 1.674,920 Expendlture Raising funds Charitable activities (21,266) (1,583,654) (1,526,383) (555.673) (2,082,056) Total expenditure (1526,383 555,673 (2,082,056 1,604,920 Net income (92,266) 142,370 50,104 70,000 Actuarlal gains l (losses) on defined benefit pension schem8 Transfers b8tsveen funds (8,813) (8,813) 14,579 126,875 (126,6751 Net movement In funds 34,409 6,882 41,291 84,579 Reconcillation of funds Funds brought forward at l April 2023 561,165 561,165 476,586 Funds carrled forward ot 31 March 2024 34,409 568,047 602,456 561,165 The notes on pages 19 to 34 form part of these financial statements. There were no other recognised gains and losses other than those Ilsted above and the net Income for the year. All income relates to continuing operatlons. 16
Wandsworth Citizens Advice Bureaux Lirnlted Balance sheet As at 31 March 2024 2024 2023 Notes Fixfjd assatg Tangible fixed assets 12 17,295 17.295 21,385 21,385 Current assets Oeblors Short-term deposlts Cash al b8nk and in hand 13 89,191 547,954 561,624 1,198,769 355.899 427,549 180.956 964,404 Credltors: amountg falling due wilhin one year 14 {533,487) 1353,318) Nèt current assot8 665,282 611,088 Total assets less curront Ilabllltles 682,577 832,473 Credltors.. amounts falllng due after one year 14 N•t assets excludlng penslon liablllty 682,577 632.473 Provl8lons for Ilabllllles and charg•s Defined benefli pansion scheme liability 15 180,121) {71.3081 Net assets 602.456 561,165 Fund* of the Charlty Restricted funds Unrestricted funds Pension reSee Total Chariiy funds 34,409 648,168 80,121 602,456 632,473 71,308 561.165 17 The notes on pages 19 to 34 farm part of these financial statements. The flnanclal Statements have been prepared in accordance with the special provision5 of Part 15 of the Companles Act relating to small companies and constitute the annual accounts required by the Companie5 Act 2006. The financlal sta ents were approved ancl authorised for issue by the Trustees on 28 January 2025 and signed on th behalf by: Anshu Treasurer hama 17
Wandsworth Citizens Advice Bureaux Limited Cash Flow Statement For the ear ended 31 March 2024 2024 2023 Note Cash flows from operating a¢tlvitle8 Net cash used in operating activities 497,769 (123,608) Cash flows from investing actlvities Interest from investrnents Purchase of property, plant and equipment Cash placed in short-term deposits 13,606 (10,302) (120,4061 4,770 (8,070) (23,847) Net cash used in Inve8tlng activitles 117,102 27,148 Change In cash and Ga$h equivalents 380.666 150,756 Cash and cash equivalent in the beglnning of the year 180,956 331,713 Cash and cash oquivalent at the end of the year 561,622 180,956 Notes to the cash flow statement A Reconciliation of net income to net cash flow from operating activities 2024 2023 Net income for the reporting period Adjustments for.. Oepreciation (Increase) I decrease in debtors (Decrease) l increase in creditors Bank interest receivable 50,104 70,000 14,391 266,708 180,171 (13,606) 9,240 (193,046) (5,033) (4,770) Net cash provided by operating actlvities 497,769 (123,608) B Analysis of short-term deposits 2024 2023 Short-term deposits at beginning of year Movement 427,549 120,406 403,702 23,847 Short-term deposlts at end of year 547,955 427,549 18
Wandsworth Cltlzens Advice Bureaux Limited Notes to the financial statements For the vear ended 31 March 2024 1 Cornpany Status Wandsworth Citizen5 Advice Bureaux is a registered charity in England and Wales (number 10403031 and is consilute¢J as a company gIStered in England and Wales and limited by guarunlee (cornpany number 029475541. Members of the charitable company guaruntee lo contribute an amount not exceeding £110 the assets of the charitable company in the event of winding up. The total number of sucg guarvntees al 31 March 2024 was 1812023.. 181. The Trustees have no beneficial interest in the charitable company. 2 Aecountlng Policies a) Ba•ls of proparation The presentation currency of the financial statements is Pound Sterling <£1. These accounts have been prepared under historical cost convention with items recognis8d at Costs or transaction value unlèss otherwise slated in the relevant nolelsl lo these accounts. The financial statements of Wandsworth Citizens Advice Bureaux Limited lthe "Charity") have been prepared in accordance with the Sl8temenl of Recommended Practice.. Accounting and Reporting by Charities preparing Ihelr accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 188ued in October 2019 and the Financial Reporting Stsndard applicable in the United Kingdom and R8public of Ireland IFRS 1021 and the Companies Act 2006 as it applies from 1 January 2019. The Charity constitutes a public benefit entity as defined by FRS 102. bl Going concern The finanaal statements have been prepared on the going concern basi¥. The Charity h85 secured funding for the next 1ve month8 and has a strong balance Sheet to meet all its liabilitie8 a8 they fall due. Management accounts are presented quartedy lo the Trustee Board to monitor progress against plan. Any adverse variation against plan are actioned immediately by management to bring it back into line with agreed plan. Ther8 are no material uncertainlie5 that cast doubt on th8 Charity's ability lo continue. cl Incorning ro$ource All income is accounted for when the Ch8rily is legally entitled to the income, il is probable that the income wlll be received, and the amount can be quantified with reasonable accuracy. Donation incom& Donats'ons are accounted for on an accruals basis in the period in whith the Charity is gnlitled lo income where the amount can be measured with rea80nable certainty. Extem81 grants Grant receivables are recogni5ed when due and when any conditions for receipts are met. Any unexpected grant Is carried forward in reserves. L8g8ci8S Legacies are recognised when they ore received or when notice is given from the executor that a payment is due, whichever is earlier. Othèr income All other income is accounted for on an accruals basis. d) Interest rgceivable Interest on funds held on deposit is included when receivable and the amount can be rneasured reliably by the ChaTIty. 19
Wandsworth Citlzens Advice Buroaux Limlted Notes to the financial statements For the ear ended 31 March 2024 2 Accountlng policies {continuedl e) Resources expended All expenditure is accounted for on an 8ccruals basis and has been dassified under the charitable expendillire 8clivity headings with references to activities parfomed in the year. Costs of generab'ng funds include salaries, direct expenditure and overhead costs relakd to securing lunding. Charitable activities expenditure enables the Char¢ty to meet its charitable aims and objectives. Direct staff costs and overheads are alloacled to the activities to which they relat•. Resources expens8s include attributable VAT that cannot be recovered. Indirect staff costs are allocated to activities on the basis of o reasonable estimate of time spent on those activities for ea¢h relevant member of staff. Govemance costs are those cos15 incurred in connectlon with enabling the charfly to comply with extornal regulation, constitutional and statutory requirements and in providing support to the Tru51ees in the discharge of their 8tsluloty duties. Support costs including centr41 management, HR, Finance and IT support provided by the central management team Istsff and other Costs) which are not direclty attributable to a particular principle activity, have been fully allocaled lo activities on a per capila basis. Redundancy costs 8re recognised when there is a legal or constructive obligation. ITrecoverable VAT is charged against the activity that incurred the original VAT. Fund accountlng The Charity maintain5 the following types of fund.. Restrictgd funds are to be used for specrfic purposes as laid down by the donor. Expenéilure which meets these criteria 16 charged to the fund. Unr8slricled funds are donations and other incoming resources received or generated that can be used freely in accordance with the Charity's purposes. Designated fvnds are unre5tri¢led funds earmafked by the Trustees out of unrestdcted funds for specbfic purposes or proiacl8. gl Tanglble fixed 8ssots T8ngible fixed assets are ststed 81 c05118$5 a¢¢umulated depreciatlon. Assets are capitali5ed where the cost exceeds £500. Deprociation is provided on all 18ngiblo fixed assets at rates calculated lo writs off the cost of each assel evenly over its expected useful life. The eslimatad useful lives used for this purpose, which are consistsnt with those of the prior yoar, are,. Over length oflgase 2 years 4 years Leasehold Bullding and Improvements Computers and IT equipment Furniture and equipment h) Le•$ed assetg All leases are consisdered to be opgrating leases and ntaI5 are charged lo the slalement of financial activities on straight line basi5 over the term of the lease. There are no asse15 held under hire purchase agreements of finance leases. 20
Wandsworth Citizens Advlce Bureaux Llmited Notes to the financlal statements For the ear gnded 31 March 2024 2 Accounting pollcles Icontinuodl i) Cagh and cash gqulvalents Cash and cash equivalents include cash in hand, current balances with banks and shtsrt lenn deposits with banks with malurilies of 12 months OT les5. 11 Provision* for liablllti08 and charges Provision for future liabilities are recognisod when the Charity ha$ a legal or constructive flnan¢ial obligation that can be reliably èslimaled and for which there is an expèctation that payment will be mado. Tho Charity contributes lo the National Assoaalion of Citizen5 Advir£ Bureaux p8nsion fund which is a multi-employer defined benefit p8nsiDn scheme fund. With effect from 31 March 2008, the sch8me closed lo future accrual. The assets and liabilili8s of the scheme ore held sepeTalely from those of the company in indppendenlly administered funds. it is not possible to identify the Charity's share of the assets and liabilities of the scherng on a consistent and reasonable bas1S. Therefore. the cgntribution5 to the ¥cheme have been treated on a defi'ned contributions basis. Further infomiation is given in Note 2D. The organisalion also contributed to stakeholder pension schemes for ils employees, the liability is limited to the amount contracted to pay each year. As from January 2017, staff are automalic211y enrolled unless they opt out or eligibillty Griteria not met. k) Deferrnd Incom• Deferred income relates lo reslricled funding mceived in advance but where the related expenditure can only take place in a future accounting period. l) Flnanclal Instrumonts The Charity only has financi81 assts and financial liabilities of a kind that qualify as basis financial instruments which are initially recognised al transaction value and subsequently measured at the present value of future cash flows lamortised costl. Financial ass15 held al amortised cost comprise debtors, exduding prepayments, short-term cash deposits and cash at bank and in hand. Financi81 liabilities held at amartised cost comprise the Charity's short term creditor8 excluding def8rred income and taxation payable. No discounting has been applied lo these financial instruments on the basis that the periods over which gmounls will be sellle8 are such that any discounting would be immaterial. 3 Donatlon• 2024 2023 Donations from private individuals 6,757 2.403 6,757 2,403 21
Wandsworth Citizens Advice Bureaux Limited Notss to the financial statements For the ear ended 31 March 2024 4 In¢om• from charitablfr a¢tlvltles Restricted Unreslrlcted 2024 2023 Grants and contracts for odvlc• and advocacy Wandsworth Borough Council Wandsworth Council Cost Living HUB Wandsworth Council Support for Ukralnian Wandsworth Council - One Slop Shop w8nd9Vrth Council - Community Saftety Team Contract W8nd$worlh Council - Roehampton Capacity Bulldlng Wandsworth Council -EU National Wandsworth Counc11- DSF Macmillan Cancer Care Big Lottery Fund- HTC 8ig Lollery Fund - ILTA RCJ Advice Bureau Aqui18 F8mlly Charitable Trust Trust for London cl'ZenS Advlce NHS South West London IC&Wandle CCG NHS South Wegl London ICB.Battersea CCG NHS South Wesl London ICB-We81 Wand5%I1Jrth CCG Roehamplon Unlverslty. Sludenl Vols. Clllzens Advlce Hamrner8mllh & Fulham The London Communlty Cily Brldge Trust Major TrBuma Advice Foodbank- Eartsfield Foodbank- Wandsworth Foodbank- Henry Srnllh Foodbank- Tru88dl Tru8t Klck31art Grant Wimbledon Foundation London Legal Support Tru5t- Propel 582,577 582,577 177.003 60.166 561,002 62,965 41,667 9,056 10,000 30,000 54.510 9.710 195.701 141.727 177,003 60,166 60,000 80.000 196.934 149.143 16,667 86,911 15,000 50.000 S3.625 88,250 36,233 36,860 196,934 140,143 16.667 86.911 15.000 so,000 53,625 88,250 36,233 36,860 14,586 26,964 10,000 37.500 500 88,250 38,233 36,860 14,280 15,356 12,000 51,941 30.980 13.000 25,538 57,675 72,191 17,140 14,588 47,700 34,753 14,083 65,293 58,075 40.346 47.700 34.753 14,083 65,293 58,075 40,346 15,000 15.000 207.075 207,075 1,434,117 672,143 2,106,260 1,662,746 S Incomo from other actlvltl•s Restricted Unreslrlcled 2024 2023 Mlscellaneous Income Room hlre 537 5,000 537 5,000 5,537 5,537 5,000 6 Inv•stment Income Re8tricted Unreslrfcted 2024 Z023 Interest Income 13,606 4,770 13,606 13,606 4,77CI 22
Wandsworth Cltlzens Advice Bureaux Limited Notes to the financial statements For the ear ended 31 March 2024 7 Resources exponded Charitable Activities Specialist Advice Services 1 Gener81 Advice Services Specialist Advice Servic8s 2 Total 2024 Staff Costs staff and volunteer expenses Office costs Premises costs Other running costs Payments lo partners Govemance costs (Note 81 Support costs {NglB 81 1,365,710 38,982 14,883 {12.4751 20,000 327.705 4,585 322.668 1.365.710 38,982 14,883 112,4751 20,000 327.705 4,585 322.666 Total 2,082,056 2,082,056 Charitable ActivS1ies Specialist Advice Services 1 General Advice Services Specialist Advice Services 2 Total 2023 staff Costs Stsff ¥nd volunteer 8xpense• Office cost5 Premises c08ts Other running costs Payments lo partners Govemance costs (Note 81 Support Costs (Note 81 1,197,919 21,104 77,270 35,211 165,019 1,197,919 21,104 77,270 35,211 165,019 30,829 77,568 30,829 77,568 Total 1,604,920 1.604,920 8 Support and lovernance costs Charitable Activiti8$ Specialist Advice Services 1 General Advice Service6 Specialist Advice Servi¢8s 2 Total 2024 Staff costs Staff and volunteer expense5 General offlce costs Premises c05t5 other costs Audit cost5 83,575 12.511 145,336 64,349 16,895 4,585 83,575 12,511 145.336 64,349 16,895 4,585 Total 327.251 327,251 23
Wandsworth Citizens Advlce Bureaux Limlted Notes to the financlal statements For the ear ended 31 March 2024 8 Supportand governance costs {continued) Charitsble Activities Advice Advice Advice Total 2023 Staff costs Staff and volunteer expenses General office t05ts Premises costs Other costs Audit costs 66,347 16.112 8,085 9,292 2,571 5,989 66,347 16,112 8,085 9,292 2.571 5,989 Total 108.396 108,396 9 Net Income for the year Thls Is stated after charglng.. 2024 2023 Operatlng lease rentals.. Propertv Other 40,000 50,884 21,742 9,240 Depreciatlon External audltors, remuneratlon: External audlt fee Non audlt remuneratlon 9,187 4.585 5,000 989 10 Staff cost5 Jnd Trustee expenses No emolurnents were paid to the Charlty's Trustee5 during the year12023- £nlll. No travel expense5 were reimbursed to the Charity's Trustees durln8 the year12023: £nlll. 2024 2023 stsff costs during the year: Salarles and wages Soclal securlty CDSt5 Pension contrlbutlons 1,249,681 116,963 82,641 1,116,646 107,195 70,894 1,449,285 1,294,735 2023 2022 Number of employees who earned between É60k- £70k during the year: Key Management personnel Teceived benefits during the year of.. The average monthly head count was 47 staff12023= 411 and the avergage monthly number of full tlme equivalent employees durlng the year were as follow5.. 186.277 170,395 2024 2022 Generating fund5 Chafltable activitv Governance 38.1 29.9 38.1 31.4 24
Wandsworth Citizens Advlce Bureaux Limited Notes to the financial statements For the ear ended 31 March 2024 11 Taxation Wandswoth Citizens Advice Bureaux Limited is a registered charity 8nd is therefore potentially exempl from tsxation of its income and gains as Wandsworth Citizens Advice Bureaux Limited falls within the definition of a Charitable Company as defined in Part 1, Schedule 6 of the Finance Act 2010. No tax charge has arisèn during the ye8r. 12 Tanglble fixed assets Leasehold Building and improvement Computers and IT equipment Furniture and equipment Total Cost At 1 April 2023 Additions in y8ar Disposals in year 95,215 56,278 10,302 18,417 169,910 10.302 At 31 March 2024 95,215 66,580 18,417 180,212 Depreclatlon At1 April 2023 Charge for the year Disposals in year 177,8661 15,2051 152,2421 19,1871 118,4171 1148,5251 114,3921 Al 31 March 2024 183,0711 161,4291 118,4171 1162,9171 Net book v•lu• At31 March 2024 12,144 5,151 17,295 At 31 March 2023 17,349 4,036 21,385 All tangible fixed 8ssets are used to fulfil the Charitys objects. 13 Debtorn 2024 2023 Account recelvables Other debtors Prepald expenses 23,858 46,527 18,806 222,353 107,337 26,209 89,191 355,899 14 Credltors 2024 2023 Trade creditors other credltors Deferred income Isee Note 161 Accruals Taxation and soclal secu rity Deflned benefit due wlthln I year 131,256 28,630 192,579 108,378 65,144 7,500 66,894 32,760 167.975 51,051 27,135 533,487 345,815 2024 2023 Amount5 due after more than one year other creditors 25
Wandsworth Citlzens Advice Bureaux Limlted Notes to the flnancial statements For the ear ended 31 March 2024 IS Defined benefit peDslon scheme liability 2024 2023 Definded benefit pension FRS 102 (more Ih8n 1 year) 80.121 78,808 16 Dèfèrred income 2024 2023 Deferred Sncome brought forward Amounts released to income durlng the year Incorning resources deferred in the year 167,975 1136,3071 160,911 139.595 1139,5951 167,975 192,579 167,975 17 Analysls of net assets between funds Restricted funds Designated fund5 General fvnd5 Total funds 2024 Total funds 2023 Tangible fixed assets Current a55et5 Current liabllltles Non-current Ilabllities 17,295 968,911 1338.0381 180.121) 17,295 1,198,769 1533.4871 180,1211 21,385 964,189 1330,0931 178,8081 229,858 1195,4491 Net a55et5 at 31 March 2024 34,409 568,047 602,456 576,673 18 Operatlng le•se cornrnltrnents Total future minlmum lease payments are a5 follows.. Land and buildings 2024 Land and bullding5 2023 Other 2024 Other 2023 Withln one year Between one and five years More than five years 54.158 51,042 11,208 28,083 105,200 39,291 26
Wand8WOrth Citizens Advice BreaUX Limited Notes to the financial 8taternents For the ar ended 31 March 2024 19 Ststement of funds Gain110s81 on A131 Investments March 2024 At 1 Aprfl 2023 Incoming roUrceS Outgoing resource8 Transfers Restricted funds Klacmlllan Cancer Care 81g Lott Fund- HTC VJ Lottery Fund- ILTA Wand5worth Coundl - Cost Ll¥ing HUB Wan¢8Wrth Council - Support lor Ukralnian RCJ Advice Bureau Aquila Family Charitsble Tru$t Trust for London cit12ens Advltt W8ndle CCG Battersea CCG West W8nd$worth CCG Clty Bridge Trust MajorTrauma Advie• Foodb8nk- Wand5WOrth Foodb8nk- Eartslleld Foodbank. Henry Smlth Foodbank. Tru&sell Trust Londcn Legal Support Tru81- Propel 196,934 149.143 18,687 177,003 60,166 86,911 Is.000 50.000 53.825 88,250 36,233 36.860 47.700 34,753 85,293 14,083 68,075 40,346 207,075 1219.8881 1192.2271 o.oo 1179.2021 142,3911 1109.6031 115,0001 124,1211 153,6251 186,3341 142,6681 137,20DI 146,85DI 131,86DI 191,4281 114.8991 180,9471 158.4951 219,644 22,554 5,4g2 137,5921 16,667 2,199 17,775 22,692 ZS,879 6.435 340 13,7201 12.8931 26.135 816 17,422 18,149 12,569 12.8701 14,550 Totsl mtrlct•d lund• 1434 117 1526.38 128 674 Y,409 Unro¥trlcted fundi Gener81 unrestricted funds D•fined o•n8lon baneflt Scheme 632,473 6è8,042 1555,6731 1128,8741 648,168 8.813 Total unrejtrlcted funds 581185 555 673 126.674 Totsl funds 561 165 2.132 159 2 082 055 8.813 602 466 The unrestricted funds repsentS the free funds orthe Charlty. The Tru$lee Board ha& agreed to ¥ rnlnlrnum level of £435,000 fundlny As re8aryea to guard against unlor6een eventualitiei. 27
Wandsworth Citizens Advice Bureaux Llmlted Notes to the flnancial statements For the ear ended 31 March 2024 19 Statement of funds (continued Purpose of restrlcted funds Macmillan Cancer Care To provide benefit advice to cancer patients at st George's and Kingston hospitals This project is funded by the National Lottery through the Big Lottery Fund and provides advi for people in harship crisis, supports training of community volunteers in first aid, and coordinates a hardship ¢risis nefvlcrk. Provision of an advice service for patients of Wandle GPS. This is an innovative approach tts prescribing advisory 5UPPOrt and community referrals for patien15 presenting social needs to thgir GPS. It15 intended lo help achieve r8source savings for GPS and promote better health in the Wandle Iccality- Provision of an advice service in partnership with patients of GPS In the Battersea locality. Provision of an advice 5ervicE fDr patients of GPS in the West Wand8WOrth loGality. Provision of speciall¥t housing advice lo clients on their houslng Tights and duties. Provision of support and advice to people with serious injuries as result of major Iraurna. It also facilitates access to further advice and altemative resource5 to ensure improved s8rvicelexperience for major trauma patients and families. Funding for an adviser to help user8 of an independent Wand5WOrth foodbank address their advice requirements. Big Lottery Fund Help through Hardship Crisis Fund Wandle CCG Battersea CCG Wesl Wandsworth CCG City Bridge Tfust Major Trauffla Advice Foodbank 28
Wandsworth Citizens Advice Bureaux Limited Notes to the financial statements For the ear ended 31 March 2024 20 Pengion scheme Citizens Advtce {'Ihe Principal EmployeT'I operates a defined benefit scheme I'the Plan'l in the UK which provides both pensions in retirement and death benefits to members. Pension benefits are related to the members, final salaries at retirement and their length of service 81 the dal8 they retired or left pensionable service. The Plan closed to future accrual on 31 March 2008. The Plan also contains some money purchase AVCS and protected rights fund5, which are not in¢luded in these disclosUQS. In accordance with the schedule of contributions agreed by the Employer and Tru8tee in August 2023, the contributions to the Plan for the year ending 31 March 2024 have been £5,218,000, which indudes £4,918.000 towards the deficit and £300,000 as an allowance for administration expenses and 811 scheme18vies. Tho Plan is a registered schome under UK legislation. The Plan 15 sublecl lo the scheme funding requirements outlined in UK18gislation. The Pl8n is gDverned by the Plan's Trust Deed and Rules dated 4 April 2011. The Trustee is responsible for the operallon and the govemance of the Plan. including making decisions regarding the Plan's funding inve5trnent strategy laSlhough they are required lo consult the Principal Employer). An actuarial valuation tsf the Plan was carried out as at 31 March 2024 by a qualified independent actuary, b85ed upon mambership data as al 31 March 2022. allowing for assumed membgrship rnovements over the period from this dote, and any material membership movemenly significanuy differenl from those assumed le.g. transfer5 out). The most recent formal actuarial valuation of th8 Plon was as al 31 Marth 2022 8nd revealed a funding deficit of £53,536,000. In the recovery plan agreed following the valuation, the Principal EmployeT and other participating employers agreed lo pay daficit Teductlon contributions of £2,918,000 per annum with tha view lo eliminating the deficit by 30 September 2a40. The liabilities of the Plan are based on the current value of expected benefit payment cashflow5 to members of the Plan over the next 60 or more y8ars. The average duration of the liabilities is approximately 11 year8. The Plan i& exposed to actuarial risks such as market linveslmentl risk, interest r8le risk, inflqtion risk. currency risk and longevity risk. 29
Wandsworth Citizens Advico Bureaux Limited Notes to the financial statements For the ar ended 31 March 2024 20 Ponslon scheme Icontlnugdl The major assumptions used by tho actuary were (ln nomlnal t•rmsl as follo¥M: Asat 3110312024 Asat 311¢BI2023 Discount r8le Inflation 888umption IRPII Inflation 88sumptiDn ICPII Revaluallon of deferred pensions in excess of GMP Pension In payment in¢rea¥e5 Of.. CPI or 5% p.a. If legs CPI inflation slnce rellremenl cr 5% p.a. compound les$ CPI or 3% p.8. It less 4.90% 3.20% 2.80% 2.80% 4.80% 3.30% 2.85% 2.85% 2.80% 2.8D% 2.50° 2.85% 2.85% 2.50% Commulatlon of penslon for cash at rellrement 75% of HMRC maxlmum 75% of HMRC maxlmum Asat 3110311024 Asat 3110312023 A••UM Ilfe •xpèctancl•• on r•tlr•mgnt at age 65 ar•: Rellrlng today- Males RelSrlng lod8y- Fern8le5 Rellring In 20 year5 tlme- Males Retiring In 20 year5 tlme- Females 20.8 23.4 21.8 24.5 20.8 23.8 22.0 24.7 Valu• at 3110312024 £0008 Valuo at 3110312023 £OOOs The Aso•ts In tho Plan w•r•'. Mulll asset funds Structured equity and LDI Cash Falr Yalu• of Plan a#••t• 26,047 33,448 1,100 60,594 24,903 35,116 726 80,745 The •¢tual r•turn on a*80ts over th• perlod wa•: 307 137,084) Pre8enl value of funded obllgallcns Falr v8lue of Plan assets SurpluBlldellcltl In fund•d 8ch•mg 107,082 80,594 46.4881 111,169 60.745 150,424> Psent valtje of unfunded obllgations Unrecognised Bctuarlal gain5 {losse81 Adjustment in respect of asset celllng N•t Ilablllty In balance sh•gt 46.488 60.424 30
Wandsworth Cltlzens Advice Bureaux Limited Notes to the financial statements Forthe ear ended 31 March 2024 20 Ponslon scheme Icontlnuedl R•conciliatlon of op•nlng and clo$lng balancès of the presant value of the dofinod bgnofit obllu4tlon 3110312024 £OOOs 3110312023 £OOOs Benefit obligallon 81 beginnlng of year Current servlce eo81 Interest cost Conlfibutions by Plan p8C1Pants Actuarial Igainslnosye8 8enefits paid and expen8e8 P8s1 service cost Settlements 8uslne8s combinallons Exchange rale 8en•fft obllgatlgn #t •nd of year 111,189 693 5,250 148,768 832 4.074 15,7291 15,6761 1.375 135,041) (7.4641 107,082 31
Wandsworth Citizens Advlco Bureaux Limited Notes to the financial ststements For the vear ended 31 March 2024 20 Penslon schemo lcontlnuedl R•conclllatlon of opening and e1051ng balanc•s of the fair value of Plan asset$ 3110312024 £OOOs 3110312023 £Ol)Os FalT value of Plan assets gt beglnnlng of year Interest Income on Plan assets Relum on 8ssels, exduding interest Income Contributions by employers Contributions by Plan participants Benefits paid and expenses 8usiness combination8 Settlements Exchange rate Falr valua of Plan 84&•ts at end ot y•ar 00.745 2.905 12,5981 5.218 102,214 2.801 139,8851 3.079 15,6761 17.4641 60,694 60,746 The amounts r•¢ognl••d In proflt or lou: 3110312024 EOOO• 3110312023 £OOO¥ Service cost- Inc. current & past 8ervlce costs, $elllemenl8 Serylce cost- adrnlnlslralive cost Nel Inleresl on the nel deflned beneflt Ilabllity Tot•1 exp•ns• 1.375 693 2.345 4,413 832 1,273 2.106 R•mu6urorn•nt* of thg not doflned bonollt Il•bllty laBUtI to b• •hown In OCI.. 3110312024 £OOOs 3110312023 £OOOs Atharial Ig8lnsinos8es on the liabllltles Rèturn on assets, excludlng Interest Income Chang68 In the effect of the asset celllng excludlng Interest Income Total remsUr•m&nt of th• net doflnod b•n•flt Il•blllty I la¥•et) to b• shown In OCI 15.7291 2,598 35,041) 39,885 {3,1311 4844 21 Rqlated party tran•actlons There were no related party transactions durin8 the year. 32
Wandsworth Citizens Advice Bureaux Limited Notes to tha financial statements For the ar ended 31 March 2024 22 Cornparatlve Statem•nt ol Flnanclal actNltles Ilncorporating income and expfrndlture accounti Restricted Unrestricted Total 2023 Incomè Donations Charitable ath'vilies.. advice and advocacy Other trading 8etlvilie8 Investments 2,403 642,499 5,000 4,770 2,403 1,662,747 5,000 4,770 1,020,248 Total Incornlng rMour¢88 1,tt20,248 654,672 1.674,920 Exp8ndltur• Ralsing funds Chacitable actlvltle8 121.266) 1548.4711 121.266) 11.583.654) (1.035.183) Totsl •xpondltuM 1,035,183 569,737 1.604,920 N•t Incomo 114,9351 84.935 70,000 ActuaTI81 g8lns l Oosse81 on deflned benefit penslon scheme 14.579 14.579 Net movement In fund8 84.579 Roconclllatlon of fund• Fund8 brought fcrnrd al 1 Aprll 2022 461,651 476,586 Funds carrled foward 8131 March 2023 581.165 561,165 33
Wandsworth Citizens Advlce Bureaux Limited Notss to the financial statements For the ar ended 31 March 2024 23 Compar4tl¥é Statement of funds Galn Ilossl on investmen15 Al 1 Aprll 2022 Incomlng resourceg Outgoing resource5 At 31 March 2023 Restrfctod funds Macmlllan Cancer Care Blg Lottery Fund- HTC W3ndswrth Coundl . Co81 Llving HUB Wandswjrth Council Support for Ukrainian Wandswjrth Councll - One Slop Shop wandshrth Council - Community Saftety RCJ Advlce Bureau Aqulla Family Charflable Trust Trust for London Cluzens Advlce Wandle CCG B8llerse8 CCG West WandSrth CCG Clty Bridge Tru51 Major Trauma Advlce Cits'zens Advlce- Help lo ClaiTll The London Communlty W8ndsNKJrth Council- DSF Foodbank- W8nd5WQrth Foodbank- Earlsfleld Foodbank- Henry Srnith Foodbank- Trussell Trust EU National 195,701 141,727 62,985 41,867 9,056 10,000 26.964 10,000 37,500 500 88,250 36,233 36,880 47,220 30,980 1195,7011 1154,9221 162,9651 {41,6871 19.0561 110.0001 126,9641 110,0001 137,5001 15001 188,2501 136,2331 136,8801 147.2201 130.9801 11.7401 112,0001 19,7101 125,5381 113,0001 157,6751 172,1911 54,510 13,195 1,740 12.000 9,710 25.538 13.000 57,67S 72,191 54,510 Total r••trf¢t•d funds 14,935 1 020.248 1.035,183 Unrnstrlcted funds General unre51rlcted funds Defined pen8lon benefit scherne 555.038 93,387 684.672 1569,7371 839,973 78,808 Total unregtd¢ted funds 461,651 654,672 569,737 14.579 561.185 Total fundg 476,586 1.674,920 1.604.920 14,579 561,165 34