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← Wandsworth Citizens Advice Bureaux Limited

2025-03-31-accounts

REGISTERED COMPANY NUMBER: 02947554 (England and Wales) REGISTERED CHARITY NUMBER: 1040303

REPORT OF THE TRUSTEES AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

FOR

WANDSWORTH CITIZENS ADVICE BUREAUX

LIMITED

Hartley Fowler LLP Statutory Auditors Chartered Accountants 4th Floor Tuition House 27-37 St George's Road Wimbledon London SW19 4EU

WANDSWORTH CITIZENS ADVICE BUREAUX LIMITED

CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

Page
Report of the Trustees 1 to 12
Report of the Independent Auditors 13 to 16
Statement of Financial Activities 17
Balance Sheet 18
Cash Flow Statement 19
Notes to the Financial Statements 20 To 35

Wandsworth Citizens Advice Bureaux Limited Report of the Trustees for the year ended 31 March 2025

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 2025. The Trustees confirm that the annual report and financial statements comply with current statutory requirements, the requirements of the Charity’s governing document and the provisions of the Statement of Recommended Practice (“SORP”) applicable to charities preparing these accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (“FRS102”) (effective 1 January 2019).

Objectives and Activities

The Charity’s objectives 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 poverty, sickness and distress, in particular, but without limitation, for the benefit of the community 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 advice is crucial and highly valuable to individuals, the Council, government and society as a whole.

Our Aims

We are committed to being a client-focussed service. We will continue to enhance our reputation of being at the forefront of advice service delivery, embracing technology and enhancing our work with equity-led partners to give the most disadvantaged people in Wandsworth the skills and tools that they need to resolve their issues and to provide in-depth expert support for those that need it.

Our central aims are to:

The Trustees receive regular updates at Trustee Board meetings from the Chief Executive on progress against aims and objectives.

Statement on public benefit

The section below covering the achievements and performance of the Charity sets 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.

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Wandsworth Citizens Advice Bureaux Limited Report of the Trustees for the year ended 31 March 2025

Principle 1: There must be an identifiable benefit or benefits

Principle 2: Benefit must be to the public or a section of the public

Achievements and Performance

Core Advice

Under our contract with Wandsworth Borough Council (“WBC”), we provide the main public advice service for Wandsworth residents, the Generalist Advice Service. This was accessible via the telephone Adviceline, a public online referral form and face-to-face services based in our offices in Battersea and Roehampton. Our partners were also able to directly refer clients to us via online referral forms and a secure online referral platform.

Our projects and services were able to help 6,877 individuals in 2024-25 and achieve over £6.5 million of financial benefit for local people.

Specialist and targeted work

Our Home Visiting service continued to work effectively as part of our Specialist Service, which is also funded by WBC under our Community Advice Service contract. Clients are either referred by Wandsworth Adult Social Care team or members of our team when they identify clients with disabilities or long-term health conditions that need benefits assistance, 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 could help residents facing immediate hardship due to financial issues. The project team also delivered Advice First Aid training, with support from our Crisis Project, and talked about cost-of-living issues at events organised by partners.

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Wandsworth Citizens Advice Bureaux Limited Report of the Trustees for the year ended 31 March 2025

The Greater London Authority 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 Propel 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 as giving advice to Wandsworth residents on employment matters, we work with Citizens Advice offices across London to increase their knowledge and understanding of employment advice.

Our Homelessness Reduction 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 Patient Welfare Advice Service for GP patients in three of Wandsworth’s Primary Care Networks (Battersea, Wandle and West Wandsworth). Since the introduction of social prescribing in the Borough, the link workers, attached to the GP practices, have referred patients on behalf of GPs.

The South West London and St George’s NHS Trust funded a Mental Health Advice service.

Working in partnership with Citizens Advice Croydon, people affected by cancer were provided with welfare benefit advice by CAW’s team of two MacMillan advisers.

The Help Through Hardship Crisis Project , funded by the National Lottery through the Big 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 for the Borough. The project is delivered in partnership with Wandsworth Community Empowerment Network with 1.4 full time equivalent advisers and a Project Manager employed to deliver the project. Through this project CAW also upskilled local partners to provide accurate information to their communities by providing training, information sessions and support with cases through AFA training.

Funded by City Bridge Trust, the Specialist Housing Advice adviser provided in-depth advice and casework service to clients on their housing rights and duties. The main areas of advice included homelessness, suitability of temporary accommodation, security of tenure, possession proceedings, disrepair, and re-housing options.

Funding from both Trussell (formerly the Trussell Trust) and the Henry Smith Charity has enabled us to employ a Foodbank Advice team to deliver advice in foodbanks across Wandsworth, reaching people at point of crisis and working to reduce long-term reliance on emergency foodbank provision.

Roehampton University

We continued to work with Roehampton University’s Law School during 2024-25 A grant from the university allowed us to provide volunteering opportunities for law students 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 2024-25 we estimate that we generated:

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Wandsworth Citizens Advice Bureaux Limited Report of the Trustees for the year ended 31 March 2025

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 to inform service improvement and development. Our team are proud that our client feedback and quality scores remained good throughout 2023-24. 73% of people surveyed said their problem was solved following advice (1% increase on 2023-24) and, 83% of people said that the advice they got helped them to find a a way forward (3% decrease on 2023-24).

Our services 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. 61% of our clients are people of colour (3% increase on 2023-24), compared to 32% of people in Wandsworth, as a whole. 60% of clients have a disability or long-term health condition (2% increase on 2023-34), compared to 15% of the Borough’s population.

I will never forget your help and support for me in these difficult days. I really appreciate it Client feedback

Your Advice has been a tremendous help and encouragement to us both, very patient and knowledgeable

Client advised by Benefits Specialist

This community service is crucial, as it provides the necessary resources and support to those in devastating situations, circumstances and struggling times lack of knowledge etc I I cannot Thank the professionals that helped me in time of need enough. Client feedback

Research and campaigns and local leadership

Our research and campaigns activity, alongside national research, plays a key role in helping us to inform local policies and practices. Anonymised client data, collected by colleagues and client experience surveys, enables us to understand the issues that affect Wandsworth residents. Our evidence-led approach allows us to focus our policy influencing effectively whilst maintaining our political impartiality.

We are proud of our local partnerships, strong financial support from local public sector partners enables us to engage across a range of local and Pan-London partnerships where we champion the need for a focus on the most disadvantaged residents and the value of access to advice. Our Crisis project, funded by the National Lottery, plays a key role in coordinating local partner referrals and we work closely with local organisations, including local Foodbanks, the Community Empowerment Network, Elays and Mushkil Aasaan.

Equality, Diversity and Inclusion

Whilst the Citizens Advice name is a symbol for trusted advice and support for many, it is less well known and understood amongst some parts of society, we work hard to ensure that our reach into Wandsworth’s Black and minoritised communities is strong, because evidence shows that there is deep-rooted disparity of experience for many people from non-White backgrounds. Our long-established Advice First Aid model has enabled us to engage successfully with organisations and community group that support Wandsworth’s diverse community, and our client experience data shows that this approach leads to better engagement and better experiences for our clients. The success of Advice First Aid continues to grow across the Citizens Advice network. CAW coordinate Pan-London work to embed a community-focussed approach to access to advice and are prominent members of the national Community of Practice. Our work as part of the Propel – Robust Safety Net partnership has taken this approach into the realm of workforce development. Our work with community partners and other

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Wandsworth Citizens Advice Bureaux Limited Report of the Trustees for the year ended 31 March 2025

London Citizens Advice charities supports recruitment and training in partnership with community organisations to address barriers to entry for potential new advisers.

We recognise similar trends for people living with disabilities and long-term health conditions and have prioritised development of several health-based projects to address that disparity.

Volunteer contributions

A vital part of CAW’s activity is the engagement of volunteers in the delivery of its services, research, and campaigns. Over 80 volunteers (including Trustees) supported us in 2024-25 with over 20,000 hours of volunteering time. 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 people as we do. The value of the time our volunteers gave during the year was over £750,000.

Plans for future periods

2025/26 will be another year of challenge for us the enduring impact of the Cost-of-Living crisis on Wandsworth residents, and disproportionately on people already facing disadvantage, means that demand remains at levels far higher than before the COVID pandemic. Our clients’ 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 2025-26 continues to be to retain and where possible enhance our capacity to give advice, with an ongoing focus on people facing extreme poverty and multiple disadvantages.

We are, as ever enduringly grateful to the local and national funders who continue to support our work. 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 significant five-year core Grant for Improving Lives Through Advice which will enable us to enhance our commitment to positively address inequality and ensure greater continuity across our core service and projects.

With significant funding in place for 2025-26 our central aims are to:

1. Be a great place to work and volunteer

We will maintain a resilient, committed and flexible workforce by sustaining a culture and practices that align with our values, and invest in our whole team’s capability and skills so everyone is supported to contribute to the best of their ability.

2. Give people the skills, tools and expert support they need

We give people the knowledge and the confidence they need to find their way forward - 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 services and do more to reach the people who are not yet accessing them.

3. Build and maintain strong and effective partnerships

We recognise the role that advice for individuals plays in complementing the work of statutory agencies, we will work collaboratively with these agencies for the benefit of our clients. We also know that compared with many of our community partners we are a large well-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.

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Wandsworth Citizens Advice Bureaux Limited Report of the Trustees for the year ended 31 March 2025

Plans for future periods (continued)

4. Be a strong and resilient organisation

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 Citizens 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 Charity Commission and Companies House, we hold the Advice Service Alliance quality standards 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 imperative that, with support from national Citizens Advice, we ensure compliance through effective systems and practices.

Financial Review

Financial Performance

Against the backdrop of continued funding challenges for the charity sector, 2024-25 was a year of significant progress and accomplishments for CAW.

Income increased by £47,473 from £2,132,160 to £2,179,633 during the current financial year.

Expenditure in the same period increased by £100,826 from £2,082,056 to £2,182,882.

Direct staffing costs increased by £116,962 from £1,365,710 to £1,482,702.

This level of spending was necessary to support the continued expansion of services during the year.

The charity reported a surplus of £4,678 (2024 £41,291) of which £17,931 were restricted and (£13,253) were unrestricted.

Balance Sheet

Cash balances, including balances held on short-term deposits decreased by £80,224 from £1,109,578 to £1,029,354.

Working capital (net current assets) decreased by £3,249 from £682,577 to £679,328.

A liability for future pension payments is included on the balance sheet, and the pension reserve has decreased by £7,924 from £80,121 to £72,194.

Net assets at the year-end were £607,134 (2024 £602,456) of which £554,794 was unrestricted and £52,340 were restricted.

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Wandsworth Citizens Advice Bureaux Limited Report of the Trustees for the year ended 31 March 2025

Financial Review (continued)

Reserves Policy

The Trustee Board reviews the reserves policy each year to consider the appropriate level of unrestricted reserves. The Trustees believe that sufficient reserves are necessary to balance the growing needs of the Charity to absorb setbacks and to take advantage of opportunities to meet our charitable objectives.

CAW holds reserves primarily to:

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 existing 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)

Our restricted funds do not form part of the reserve policy.

Going Concern

CAW has strong cash flows and has secured significant funding for the next twelve months. We, therefore, believe that 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 operate as a going concern for the foreseeable future.

Investment Policy

The Trustees 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 interest deposit accounts with UK based financial institutions. Within 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 changes to financial conditions.

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Wandsworth Citizens Advice Bureaux Limited Report of the Trustees for the year ended 31 March 2025

Financial Review (continued)

Risks and Uncertainties

The trustees identified the following key risks and uncertainties facing the Charity and the plans and strategies for managing these risks:

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 full Trustee Board met quarterly during 2024-25. Sub-committees with responsibility for Finance, and People helped to explore and prepare for Board decisions. The Board retained responsibility and oversight.

The operation of the Charity is managed by the Chief Executive, Deputy Chief Executive, Head of Projects, and Office Manager, with an outsourced contractor, reporting to the Chief Executive, responsible for the finance and accounting of the Charity

The pay for the organisation’s Chief Executive and Deputy Chief Executive was set during the 2023 recruitment (having been benchmarked by the Trustee recruitment panel). Pay for all other staff roles was set following a benchmarking exercise by the Executive Team, and is described in a written policy document.

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Wandsworth Citizens Advice Bureaux Limited Report of the Trustees for the year ended 31 March 2025

Structure and governance (continued)

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 reelected.

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 is a member of Citizens Advice, a national network of over 280 charities that deliver across the country, overseen by a national framework provided by Citizens Advice.

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.

Information Assurance

CAW has adopted the recommended Citizens Advice Information Assurance and Data Protection policy. All decisions on how to manage 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 remains comprehensive and effective at the following intervals and/or after the following events: a) annually; b) whenever significant amendments or additions are required (e.g. by changes in law or other compliance obligations); and c) after a data loss incident, if required. All significant information risks are documented in an appropriate section of the risk register, which is reviewed at regular intervals by the Trustee Board.

All information assurance policies and procedures are reviewed annually.

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Wandsworth Citizens Advice Bureaux Limited Report of the Trustees for the year ended 31 March 2025

Legal and Administrative Information

The Charity is a company limited by guarantee, incorporated on 12 July 1994, and registered as a charity on 19 August 1994.

Wandsworth Citizens Advice Bureaux Ltd is the registered name of the company. It commonly trades as Citizens Advice Wandsworth (“CAW”).

Governing documents Memorandum and Articles of Association 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 02947554 Charity number 1040303 Registered Office: Battersea Library, 265 Lavender Hill, SW11 1JB Roehampton Office: Picasso Building, Minstead Gardens, SW15 4EE

Current Trustees (also directors under company law)

----- Start of picture text -----
Jonathan Mogford Vice Chair Appointed 25 July 2018
Ben Dulieu Chair Appointed 21 November 2018
Dylan Brooks Appointed 21 November 2018
Lauren Beth Iannarone Appointed 28 July 2020
Sumathi Narayanan Menon Vice Chair Appointed 28 July 2020
Susan Jane Wixley Appointed 28 July 2020
Abdirahman Xirsi Appointed 21 February 2023
Armando Urdaneta Appointed 21 February 2023
Anshuk Sharma Treasurer Appointed 8 January 2024
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Senior staff
Jeremy Sandell Chief Executive From 17 July 2023
Tom Segurola Deputy Chief Executive From 23 April 2023
Helen Kalia Head of Core Services From 24 June 2024
Jo Anderson Head of Community
Partnerships		 From 24 June 2024

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Wandsworth Citizens Advice Bureaux Limited Report of the Trustees for the year ended 31 March 2025

Legal and Administrative Information (continued)

Bankers Barclays Bank plc CAF Bank 83 Wandsworth High Street 25 Kings Hill Avenue London SW18 2PR Kings Hill, West Malling Kent ME19 4JQ Redwood Bank Limited Julian Hodge Bank Limited The Nexus Building One Central Square Broadway Cardiff Letchworth Garden City CF10 1FS Hertfordshire 3G6 3TA Virgin Money Nationwide Building Society Jubilee House Kings Park House Gosforth Moulton Park Newcastle upon Tyne Northampton NE3 4PL NN3 6NW Auditors Hartley Fowler LLP 4th Floor Tuition House 27/37 St George’s Road London SW19 4EU

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Wandsworth Citizens Advice Bureaux Limited Report of the Trustees for the year ended 31 March 2025 Statement of Trustees, Responsibilities The Trustees {who are also directors of Ihe 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 requires the Trustees to prepare financial statements for each financial year. Under that law the Trustees have elected lo prepare the financial statements in accordance with the United Kingdom generally Accepled 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 Ihal Ihey give a true and fair view of Ihe stale of affairs of the charitable company and of the incoming resources and application of resources. including the income and expenditure of the charitable company for Ihal period. In preparing these financial statements, the Trustees are required to- Select suitable accounting policies and then apply them consistenuy., Observe the methods and principles in the Charities SORP- Make judgements and estimates that are reasonable and prudent., Slate whether applicable UK Accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and Prepare the financial statements on ihe going concem basis unless it is inappropriate to presume that that the charitable company will continue in business. The Truslees are responsible for keeping adequate accounting records that are sufficient to show and explain the charitable company s transaclions and disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure Ihat the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of Ihe charitable company and hence for taking reasonable steps for the prevention and deleclion of Iraud and other irregularilies. In so far as we are aware: There is no relevant audit information of which the charitable company's audilor is unaware; and The Trustees have laken all steps Ihat they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditor is aware of Ihal information. Members of the charIta￿e company guarantee lo contribute an amount not exceeding £1 to the assets of the charitable company in the event of winding up. The total number of such guarantees at 31 March 2025 was 18 12024.. 18>. The Trustees have no beneficial interest in Ihe Charilable company. Audllors The auditors, Hartley Fowler LLP, will be proposed for re-appointment in accordance with Section 485 of the Companies Act 2006. This report has been prepared in accordance with the special provisions of part 15 of Companies Act 2006 relaling to small companies. Approval Thi reporl was a ed by the Board of Trustees on 26th January 2026 and signed on their behalf by.. Sharnia Treas 12

Report of the Independent Auditors to the members of Wandsworth Citizens Advice Bureaux Limited for the year ended 31 March 2025

Opinion

We have audited the financial statements of Wandsworth Citizens Advice Bureaux Limited (the “charitable company”) for the year ended 31 March 2025 which comprise the Statement of Financial Activities, the Statement 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:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (“ISAs (UK)”) and applicable law. Our responsibilities under those standards are further described in the Auditors responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company’s ability to continue as a going concern for a period of at least twelve 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 this report.

Other information

The trustees are responsible for the other information. The other information comprises the information included in the Annual Report, other than the financial statements and our Report of the Independent Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives 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.

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Report of the Independent Auditors to the members of Wandsworth Citizens Advice Bureaux Limited for the year ended 31 March 2025

Opinion on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

Matters on which 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 following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

Responsibilities 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 determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

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 responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Independent Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, 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;

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Report of the Independent Auditors to the members of Wandsworth Citizens Advice Bureaux Limited for the year ended 31 March 2025

We identify and assess risks of material misstatement of the financial statement, whether due to fraud or error, and then design and perform audit procedures responsive to those risks, including obtaining audit evidence that is sufficient and appropriate to provide a basis of our opinion.

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:

As a result of these procedures, 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 management 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 compliance with which may be fundamental to the charitable company’s ability to operate or to avoid a material penalty.

As a result of performing the above, we did not identify any key matters related to the potential risk of fraud or noncompliance with laws and regulations.

Our procedures to respond to risks identified included the following:

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Report of the Independent Auditors to the members of Wandsworth Citizens Advice Bureaux Limited for the year ended 31 March 2025 We also communicated relevant identified laws and regulatlons and potential fraud risks to all engagement team members and remained alert to any indication of fraud or non-complian￿ with laws and regulations throughout the audit. A further description of our responsibilities for the audit of the financial statements 15 located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Independent Auditors. Ltse of our rep(Yt Thls report is made solely to the charitable company's members, as a body* In accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audlt work has been undertaken $0 that we might state to the 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 a55ume responsibility to anyone other than the charitable company and the charitable company'5 members a5 a body, for our audit work, for this report, or for the opinlons we have formed. Jonathan Aske FG4 (Senior Sta Hartley Fowler LLP Hartley Fo Statutory Auditors Chartered Accountants 4th Floor Tuition House 27137 St George's Road Wimbledon London SW19 4EU ry Audltorl LLP 31January 2026 18

Wandsworth Citizens Advice Bureaux Limited

Statement of financial activities (incorporating income and expenditure account) For the year ended 31 March 2025

Notes
Income
3
4
5
6
Total incoming resources
Expenditure
7
Total expenditure
Actuarial gains / (losses) on defined
benefit pension scheme
Transfers between funds
Net movement in funds
Reconciliation of funds
Funds brought forward at 1 April 2024
Funds carried forward at 31 March 2025
Donations
Charitable activities: advice and advocacy
Other trading activities
Investments
Raising funds
Charitable activities
Net income		 Restricted
£
-
1,480,956
-
-
1,480,956
-
(1,601,062)
(1,601,062)
(120,106)
-
138,036
17,930
34,409
52,339		 Unrestricted
£
11,018
656,915
15,833
14,912
698,678
-
(581,821)
(581,821)
116,857
7,927
(138,036)
(13,252)
568,047
554,795		 2025
£
11,018
2,137,871
15,833
14,912
2,179,634
-
(2,182,883)
(2,182,883)
(3,249)
7,927
-
4,678
602,456
607,134		 2024
£
6,757
2,106,260
5,537
13,606
2,132,160
-
(2,082,056)
(2,082,056)
50,104
(8,813)
-
41,291
561,165
602,456

The notes on pages 20 to 35 form part of these financial statements.

There were no other recognised gains and losses other than those listed above and the net income for the year. All income relates to continuing operations.

17

Wandsworth Citizens Advice Bureaux Limited Balance sheet As at 31 March 2025 2025 2024 Notes Flxed assets Tangible fixed assets 12 7,347 7,347 17,295 17,295 Current assets Debtors Short-term deposits Cash at bank and in hand 13 127,092 614,785 414,569 1.156,446 89,191 547,954 561,624 1,198,769 Credilors. amounts falling due within one year 14 1484,465) (533,4871 Net currenl a35918 671,981 665,282 Total a88ets less current liabilities 679,328 682,577 Creditors.. arnounls falling due after one year 14 Net assels excludlng penslon liablllly 679,328 682,577 Provislons for Ilabllltles and Charges Defined benefit pen510n scheme liability 15 172,194) (80,1211 Net as$ets 607,134 602,456 Funds of the Charity Restricted f unds Unrestricted funds Pension reserve Total Charlty funds 52,339 626,989 72,194 607,134 34,409 648,168 80,121 602,456 17 The notes on pages 20 to 35 form part of these financial statements. The financial statements have been prepared in accordance with the special provi5i0ns of Part 15 of the Companies Act relating to small companies and constitute the annual accounts required by the Companies Act 2006. The f inancial stateme ned on their alf bv., were approved and authorised for issue by the Trustees on 26 January 2026 and Ansh Sharma Treasurer 18

Wandsworth Citizens Advice Bureaux Limited

Cash Flow Statement For the year ended 31 March 2025

Note
Cash flows from operating activities
Net cash used in operating activities
A
Cash flows from investing activities
Interest from investments
Purchase of property, plant and equipment
Cash placed in short-term deposits
B
Net cash used in investing activities
Change in cash and cash equivalents
Cash and cash equivalent in the beginning of the year
Cash and cash equivalent at the end of the year
Notes to the cash flow statement
A
Reconciliation of net income to net cash flow from operating activities
Net income for the reporting period
Adjustments for:
Depreciation
(Increase) / decrease in debtors
(Decrease) / increase in creditors
Bank interest receivable
Net cash provided by operating activities
B
Analysis of short-term deposits
Short-term deposits at beginning of year
Movement
Short-term deposits at end of year		 2025
£
(95,135)
14,912
-
(66,830)
(51,918)
(147,054)
561,624
414,570
2025
£
3,249
-
9,948
(37,901)
(49,022)
(14,912)
(95,135)
2025
£
547,955
66,830
614,785		 2024
£
497,769
13,606
(10,300)
(120,406)
(117,101)
380,668
180,956
561,624
2024
£
50,104
14,391
266,708
180,171
(13,606)
497,769
2024
£
427,549
120,406
547,955

19

Wandsworth Citizens Advice Bureaux Limited

Notes to the financial statements For the year ended 31 March 2025

1 Company Status

Wandsworth Citizens Advice Bureaux is a registered charity in England and Wales (number 1040303) and is consituted as a company registered in England and Wales and limited by guaruntee (company number 02947554). Members of the charitable company guaruntee to contribute an amount not exceeding £1 to the assets of the charitable company in the event of winding up. The total number of such guaruntees at 31 March 2025 was 18 (2024: 18). The Trustees have no beneficial interest in the charitable company.

2 Accounting Policies

a) Basis of preparation

The presentation currency of the financial statements is Pound Sterling (£).

These accounts have been prepared under historical cost convention with items recognised at costs or transaction value unless otherwise stated in the relevant note(s) to these accounts.

The financial statements of Wandsworth Citizens Advice Bureaux Limited (the "Charity") have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued in October 2019 and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Companies Act 2006 as it applies from 1 January 2019. The Charity constitutes a public benefit entity as defined by FRS 102.

b) Going concern

The financial statements have been prepared on the going concern basis. The Charity has secured funding for the next twelve months and has a strong balance sheet to meet all its liabilities as they fall due. Management accounts are presented quarterly to 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. There are no material uncertainties that cast doubt on the Charity's ability to continue.

c) Incoming resources

All income is accounted for when the Charity is legally entitled to the income, it is probable that the income will be received, and the amount can be quantified with reasonable accuracy.

Donation income

Donations are accounted for on an accruals basis in the period in which the Charity is entitled to income where the amount can be measured with reasonable certainty.

External grants

Grant receivables are recognised when due and when any conditions for receipts are met. Any unexpected grant is carried forward in reserves.

Legacies

Legacies are recognised when they are received or when notice is given from the executor that a payment is due, whichever is earlier.

Other income

All other income is accounted for on an accruals basis.

d) Interest receivable

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the Charity.

20

Wandsworth Citizens Advice Bureaux Limited

Notes to the financial statements For the year ended 31 March 2025

2 Accounting policies (continued)

e) Resources expended

All expenditure is accounted for on an accruals basis and has been classified under the charitable expenditure activity headings with references to activities performed in the year.

Costs of generating funds include salaries, direct expenditure and overhead costs related to securing funding.

Charitable activities expenditure enables the Charity to meet its charitable aims and objectives.

Direct staff costs and overheads are alloacted to the activities to which they relate. Resources expenses include attributable VAT that cannot be recovered.

Indirect staff costs are allocated to activities on the basis of a reasonable estimate of time spent on those activities for each relevant member of staff.

Governance costs are those costs incurred in connection with enabling the charity to comply with external regulation, constitutional and statutory requirements and in providing support to the Trustees in the discharge of their statutoty duties.

Support costs including central management, HR, Finance and IT support provided by the central management team (staff and other costs) which are not directly attributable to a particular principle activity, have been fully allocated to activities on a per capita basis.

Redundancy costs are recognised when there is a legal or constructive obligation.

Irrecoverable VAT is charged against the activity that incurred the original VAT.

f) Fund accounting

The Charity maintains the following types of fund:

Restricted funds are to be used for specific purposes as laid down by the donor. Expenditure which meets these criteria is charged to the fund.

Unrestricted funds are donations and other incoming resources received or generated that can be used freely in accordance with the Charity's purposes.

Designated funds are unrestricted funds earmarked by the Trustees out of unrestricted funds for specific purposes or projects.

g) Tangible fixed assets

Tangible fixed assets are stated at cost less accumulated depreciation. Assets are capitalised where the cost exceeds £500.

Depreciation is provided on all tangible fixed assets at rates calculated to write off the cost of each asset evenly over its expected useful life.

The estimated useful lives used for this purpose, which are consistent with those of the prior year, are:

Leasehold Building and Improvements Over length of lease Computers and IT equipment 2 years Furniture and equipment 4 years

h) Leased assets

All leases are consisdered to be operating leases and rentals are charged to the statement of financial activities on a straight line basis over the term of the lease. There are no assets held under hire purchase agreements of finance leases.

21

Wandsworth Citizens Advice Bureaux Limited

Notes to the financial statements For the year ended 31 March 2025

2 Accounting policies (continued)

i) Cash and cash equivalents

Cash and cash equivalents include cash in hand, current balances with banks and short term deposits with banks with maturities of 12 months or less.

j) Provisions for liabilities and charges

Provision for future liabilities are recognised when the Charity has a legal or constructive financial obligation that can be reliably estimated and for which there is an expectation that payment will be made.

The Charity contributes to the National Association of Citizens Advice Bureaux pension fund which is a multi-employer defined benefit pension scheme fund. With effect from 31 March 2008, the scheme closed to future accrual. The assets and liabilities of the scheme are held seperately from those of the company in independently administered funds. it is not possible to identify the Charity's share of the assets and liabilities of the scheme on a consistent and reasonable basis. Therefore, the contributions to the scheme have been treated on a defined contributions basis. Further information is given in Note 20. The organisation also contributed to stakeholder pension schemes for its employees, the liability is limited to the amount contracted to pay each year.

As from January 2017, staff are automatically enrolled unless they opt out or eligibility criteria not met.

k) Deferred Income

Deferred income relates to restricted funding received in advance but where the related expenditure can only take place in a future accounting period.

l) Financial instruments

The Charity only has financial assts and financial liabilities of a kind that qualify as basis financial instruments which are initially recognised at transaction value and subsequently measured at the present value of future cash flows (amortised cost). Financial assts held at amortised cost comprise debtors, excluding prepayments, short-term cash deposits and cash at bank and in hand.

Financial liabilities held at amortised cost comprise the Charity's short term creditors excluding deferred income and taxation payable. No discounting has been applied to these financial instruments on the basis that the periods over which amounts will be settles are such that any discounting would be immaterial.

3 Donations

Donations from private individuals 2025
£
11,018
11,018		 2024
£
6,757
6,757

22

Wandsworth Citizens Advice Bureaux Limited

Notes to the financial statements For the year ended 31 March 2025

4 Income from charitable activities

Grants and contracts for advice and advocacy
Access to Justice Foundation
Aquila Family Charitable Trust
Big Lottery Fund - Crisis
Big Lottery Fund - HTC
Big Lottery Fund - ILTA
Citizens Advice
Citizens Advice - Southwark
City Bridge Trust
Foodbank - Earlsfield
Foodbank - Henry Smith
Foodbank - Trussell Trust
Foodbank - Wandsworth
London Legal Support Trust - Propel
Macmillan Cancer Care
Major Trauma Advice
NHS SW London ICB-Battersea;Wandle;West Wandsworth
CCG
RCJ Advice Bureau
Roehampton University - Student Vols.
South West London & St Georges NHS
Trust for London
Wandsworth Borough Council
Wandsworth Community Empowerment Network
Wandsworth Council - Roehampton Capacity Building
Wandsworth Council - Cost Living HuB
Wandsworth Council - Support for Ukrainian
Wimbledon Care Alliance
Wimbledon Foundation		 Restricted
£
100,000
-
187,308
-
-
44,630
-
51,049
13,000
38,633
-
118,649
203,408
162,429
34,754
161,343
103,525
4,668
41,667
(12,500)
-
4,820
-
198,073
-
25,500
-
1,480,956		 Unrestricted
£
-
-
-
-
-
13,375
8,636
-
-
-
-
-
-
-
-
-
-
-
-
-
634,904
-
-
-
-
-
-
656,915		 2025
£
100,000
-
187,308
-
-
58,005
8,636
51,049
13,000
38,633
-
118,649
203,408
162,429
34,754
161,343
103,525
4,668
41,667
(12,500)
634,904
4,820
-
198,073
-
25,500
-
2,137,871		 2024
£
-
15,000
-
149,143
16,667
53,625
-
47,700
14,083
58,075
40,346
65,293
207,075
196,934
34,753
161,343
86,911
14,566
-
50,000
582,577
-
60,000
177,003
60,166
-
15,000
2,106,260
Miscellaneous income
Room hire
Investment income
Interest income		 Restricted
£
-
-
-
Restricted
£
-
-		 Unrestricted
£
15,000
833
15,833
Unrestricted
£
14,912
14,912		 2025
£
15,000
833
15,833
2025
£
14,912
14,912		 2024
£
537
5,000
5,537
2024
£
13,606
13,606

23

Wandsworth Citizens Advice Bureaux Limited

Notes to the financial statements For the year ended 31 March 2025

7 Resources expended

Staff Costs
Staff and volunteer expenses
Office costs
Premises costs
Other running costs
Governance costs (Note 8)
Support costs (Note 8)
Total
Staff Costs
Staff and volunteer expenses
Office costs
Premises costs
Other running costs
Payments to partners
Governance costs (Note 8)
Support costs (Note 8)
Total
Support and governance costs
Staff costs
Staff and volunteer expenses
General office costs
Premises costs
Other costs
Audit costs
Total		 General
Advice
Services
Specialist
Advice
Services 1
£
£
1,482,702
-
15,968
-
47,948
-
1,575
-
262,172
-
6,175
-
366,343
-
2,182,884
-
General
Advice
Services
Specialist
Advice
Services 1
£
£
1,365,710
-
38,982
-
14,883
-
(12,475)
-
20,000
-
327,705
-
4,585
-
322,666
-
2,082,056
-
General
Advice
Services
Specialist
Advice
Services 1
£
£
160,204
-
17,219
-
105,418
-
66,408
-
17,095
-
6,175
-
372,518
-
Charitable Activities
Charitable Activities
Charitable Activities		 Specialist
Advice
Services 2
£
-
-
-
-
-
-
-
-
Specialist
Advice
Services 2
£
-
-
-
-
-
-
-
-
-
Specialist
Advice
Services 2
£
-
-
-
-
-
-
-		 Total 2025
£
1,482,702
15,968
47,948
1,575
262,172
6,175
366,343
2,182,884
Total 2024
£
1,365,710
38,982
14,883
12,475
-
20,000
327,705
4,585
322,666
2,082,056
Total 2025
£
160,204
17,219
105,418
66,408
17,095
6,175
372,518

8 Support and governance costs

24

Wandsworth Citizens Advice Bureaux Limited

Notes to the financial statements For the year ended 31 March 2025

8 Support and governance costs (continued)

Advice
Advice
Advice
£
£
£
Staff costs
83,575
-
-
Staff and volunteer expenses
12,511
-
-
General office costs
145,336
-
-
Premises costs
64,349
-
-
Other costs
16,895
-
-
Audit costs
4,585
-
-
Total
327,251
-
-
Net income for the year
This is stated after charging:
2025
£
Operating lease rentals:
- Property
59,636
- Other
-
Depreciation
9,948
External auditors' remuneration:
- External audit fee
4,725
- Non audit remuneration
1,400
Staff costs and Trustee expenses
2025
£
Staff costs during the year:
Salaries and wages
1,407,957
Social security costs
134,687
Pension contributions
78,430
1,621,074
2025
Number of employees who earned between £60k - £70k during the year:
1
Key Management personnel received benefits during the year of:
155,947
Charitable Activities
No emoluments were paid to the Charity's Trustees during the year (2024: £nil).
No travel expenses were reimbursed to the Charity's Trustees during the year (2024: £nil).		 Total 2024
£
83,575
12,511
145,336
64,349
16,895
4,585
327,251
2024
£
40,000
-
9,187
4,585
-
2024
£
1,249,681
116,963
82,641
1,449,285
2024
1
186,277

9 Net income for the year

10 Staff costs and Trustee expenses

The average monthly head count was 48 staff (2024: 44).

25

Wandsworth Citizens Advice Bureaux Limited

Notes to the financial statements For the year ended 31 March 2025

11 Taxation

Wandsworth Citizens Advice Bureaux Limited is a registered charity and is therefore potentially exempt from taxation 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 arisen during the year.

12 Tangible fixed assets

Cost
At 1 April 2024
Additions in year
Disposals in year
At 31 March 2025
Depreciation
At 1 April 2024
Charge for the year
Disposals in year
At 31 March 2025
Net book value
At 31 March 2025
At 31 March 2024		 Leasehold
Building and
improvement
£
95,215
-
-
95,215
(83,071)
(5,205)
-
(88,276)
6,939
12,144		 Computers
and IT
equipment
£
66,580
-
-
66,580
(61,429)
(4,743)
-
(66,172)
408
5,151		 Furniture and
equipment
£
18,417
-
-
18,417
(18,417)
-
-
(18,417)
-
-		 Total
£
180,212
-
-
180,212
(162,917)
(9,948)
-
(172,865)
7,347
17,295

All tangible fixed assets are used to fulfil the Charity's objects.

13 Debtors

Account receivables
Other debtors and accrued income
Prepaid expenses
14 Creditors
Trade creditors
Other creditors
Deferred income (see Note 16)
Accruals
Taxation and social security
Defined benefit due within 1 year		 2025
£
99,974
7,712
19,406
127,092
2025
£
82,539
30,332
212,050
83,840
68,204
7,500
484,465		 2024
£
23,858
46,527
18,806
89,191
2024
£
131,256
28,630
192,579
108,378
65,144
7,500
533,487

26

Wandsworth Citizens Advice Bureaux Limited

Notes to the financial statements For the year ended 31 March 2025

15 Defined benefit pension scheme liability
Definded benefit pension FRS 102 (more than 1 year)
16 Deferred income
Deferred income brought forward
Amounts released to income during the year
Incoming resources deferred in the year
17 Analysis of net assets between funds
Restricted
funds
Designated
funds
£
£
Tangible fixed assets
-
-
Current assets
264,389
-
Current liabilities
(212,050)
-
Non-current liabilities
-
-
Net assets at 31 March 2025
52,339
-
18 Operating lease commitments
Total future minimum lease payments are as follows:
Land and
buildings
2025
£
Within one year
46,875
Between one and five years
12,208
59,083		 General
funds
£
7,347
892,057
(272,415)
(72,194)
554,795
Other
2025
£
-
-
-		 2025
£
72,194
2025
£
192,579
(192,579)
212,050
212,050
Total funds
2025
£
7,347
1,156,446
(484,465)
(72,194)
607,134
Land and
buildings
2024
£
54,158
51,042
105,200		 2024
£
80,121
2024
£
167,975
(136,307)
160,911
192,579
Total funds
2024
£
17,295
1,198,769
(533,487)
(80,121)
602,456
Other
2024
£
-
-
-

27

Wandsworth Citizens Advice Bureaux Limited

Notes to the financial statements For the year ended 31 March 2025

19 Statement of funds

Restricted funds
Access to Justice-R
ALG-Citizens Advice
ALG-RCJ Advice Bureau
Employment Advice Aqula Family Charitable
Employment Advice Trust for London
Battersea; Wandle & West Wandsworth CCG
Big Lottery Fund - Crisis
Big Lottery Fund - ILTA
City Bridge Trust
Foodbank - Earlsfield
Foodbank - Henry Smith
Foodbank - Wandsworth
London Legal Support Trust - Propel
Macmillan Cancer Care
Major Trauma Advice
South West London & St Georges NHS
University of Roehampton
Wandsworth Care Alliance
Wandsworth Council - Cost Living HuB
Wandsworth Council - Support for Ukrainian
Wandsworth Community Empowerment Network
Total restricted funds
Unrestricted funds
General unrestricted funds
Defined pension benefit scheme
Total unrestricted funds
Total funds		 At 1 April
2024
£
-
-
-
25,879
-
-
(37,592)
16,667
(2,870)
-
14,550
-
-
-
-
-
-
-
-
17,775
-
34,409
648,168
(80,121)
568,047
602,456		 Incoming
resources
£
100,000
44,630
103,525
-
(12,500)
161,343
187,308
-
51,049
13,000
38,633
118,649
203,408
162,429
34,754
41,667
4,668
25,500
198,073
-
4,820
1,480,956
698,678
-
698,678
2,179,634		 Outgoing
resources
£
(100,000)
(44,630)
(93,439)
(32,833)
12,500
(188,226)
(169,944)
(16,667)
(47,966)
(13,000)
(53,183)
(162,109)
(173,976)
(195,410)
(32,061)
(36,359)
(9,124)
(25,631)
(198,947)
(20,057)
-
.
(1,601,062)
(581,821)
-
(581,821)
(2,182,883)		 Transfers
£
-
-
-
6,954
-
26,883
20,228
-
(213)
-
-
43,460
-
32,981
-
-
4,456
131
874
2,282
-
138,036
(138,036)
-
(138,036)
-		 Gain (loss)
on
investments
£
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
7,927
7,927
7,927		 At 31
March
2025
£
-
-
10,086
-
-
-
-
-
-
-
-
-
29,432
-
2,693
5,308
-
-
-
-
4,820
52,339
626,989
(72,194)
554,795
607,134

The unrestricted funds represents the free funds of the Charity. The Trustee Board has agreed to a minimum level of £435,000 funding as reserves to guard against unforseen eventualities.

28

Wandsworth Citizens Advice Bureaux Limited

Notes to the financial statements For the year ended 31 March 2025

19 Statement of funds (continued)

Purpose of restricted funds

Macmillan Cancer Care

Big Lottery Fund - Help through Hardship Crisis Fund

Wandle CCG

Battersea CCG

West Wandsworth CCG

City Bridge Trust

Major Trauma Advice

Foodbank

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 advice for people in harship crisis, supports training of community volunteers in first aid, and coordinates a hardship crisis network.

Provision of an advice service for patients of Wandle GPs. This is an innovative approach to prescribing advisory support and community referrals for patients presenting social needs to their GPs. It is intended to help achieve resource savings for GPs and promote better health in the Wandle locality.

Provision of an advice service in partnership with patients of GPs in the Battersea locality.

Provision of an advice service for patients of GPs in the West Wandsworth locality.

Provision of specialist housing advice to clients on their housing rights and duties.

Provision of support and advice to people with serious injuries as a result of major trauma. It also facilitates access to further advice and alternative resources to ensure improved service/experience for major trauma patients and families.

Funding for an adviser to help users of an independent Wandsworth foodbank address their advice requirements.

29

Wandsworth Citizens Advice Bureaux Limited

Notes to the financial statements For the year ended 31 March 2025

20 Pension scheme

Citizens Advice ('the Principal Employer') operates a defined benefit scheme ('the Plan') 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 at the date 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 funds, which are not included in these disclosures.

In accordance with the schedule of contributions agreed by the Employer and Trustee in August 2023, the contributions to the Plan for the year ending 31 March 2025 have been £3,218,000, which includes £2,918,000 towards the deficit and £300,000 as an allowance for administration expenses and all scheme levies.

The Plan is a registered scheme under UK legislation. The Plan is subject to the scheme funding requirements outlined in UK legislation. The Plan is governed by the Plan's Trust Deed and Rules dated 4 April 2011. The Trustee is responsible for the operation and the governance of the Plan, including making decisions regarding the Plan's funding investment strategy (although they are required to consult the Principal Employer).

An actuarial valuation of the Plan was carried out as at 31 March 2025 by a qualified independent actuary, based upon membership data as at 31 March 2022, allowing for assumed membership movements over the period from this date, and any material membership movements significantly different from those assumed (e.g. transfers out).

The most recent formal actuarial valuation of the Plan was as at 31 March 2022 and revealed a funding deficit of £53,536,000. In the recovery plan agreed following the valuation, the Principal Employer and other participating employers agreed to pay deficit reduction contributions of £2,918,000 per annum with the view to eliminating the deficit by 30 September 2040.

The liabilities of the Plan are based on the current value of expected benefit payment cashflows to members of the Plan over the next 60 or more years. The average duration of the liabilities is approximately 10 years.

The Plan is exposed to actuarial risks such as market (investment) risk, interest rate risk, inflation risk, currency risk and longevity risk.

30

Wandsworth Citizens Advice Bureaux Limited

Notes to the financial statements For the year ended 31 March 2025

20 Pension scheme (continued)

The major assumptions used by the actuary were (in nominal terms) as follows:
As at
31/03/2025
Discount rate
5.80%
Inflation assumption (RPI)
3.10%
Inflation assumption (CPI)
2.75%
Revaluation of deferred pensions in excess of GMP
2.75%
Pension in payment increases of:
- CPI or 5% p.a. if less
2.70%
- CPI inflation since retirement or 5% p.a. compound if less
2.70%
- CPI or 3% p.a. if less
2.30%
Commutation of pension for cash at retirement
75% of HMRC maximum
As at
31/03/2025
Assumed life expectancies on retirement at age 65 are:
Retiring today - Males
20.6
Retiring today - Females
23.4
Retiring in 20 years time - Males
21.9
Retiring in 20 years time - Females
24.6
Value at
31/03/2025
£000s
The assets in the Plan were:
Multi asset funds
25,527
Structured equity and LDI
29,553
Cash
881		 As at
31/03/2024
4.90%
3.20%
2.80%
2.80%
2.80%
2.80%
2.50%
75% of HMRC maximum
As at
31/03/2024
20.6
23.4
21.8
24.5
Value at
31/03/2024
£000s
26,047
33,448
1,100
Fair value of Plan assets
55,961		 60,594
The actual return on assets over the period was:
(2,113)
Present value of funded obligations
96,535
Fair value of Plan assets
55,911		 307
107,082
60,594
Surplus/(deficit) in funded scheme
40,624		 46,488
Present value of unfunded obligations
0
Unrecognised actuarial gains (losses)
0
Adjustment in respect of asset ceiling
0		 0
0
0
Net liability in balance sheet
40,624		 46,488

31

Wandsworth Citizens Advice Bureaux Limited

Notes to the financial statements For the year ended 31 March 2025

20 Pension scheme (continued)

Reconciliation of opening and closing balances of the present value of the defined benefit obligation

Benefit obligation at beginning of year
Current service cost
Interest cost
Contributions by Plan participants
Actuarial (gains)/losses
Benefits paid and expenses
Past service cost
Settlements
Business combinations
Exchange rate
Benefit obligation at end of year		 31/03/2025
£000s
107,082
604
5,122
0
(10,485)
(5,788)
0
0
0
0
96,535		 31/03/2024
£000s
111,169
693
5,250
0
(5,729)
(5,676)
1,375
0
0
0
107,082

32

Wandsworth Citizens Advice Bureaux Limited

Notes to the financial statements For the year ended 31 March 2025

20 Pension scheme (continued)

Reconciliation of opening and closing balances of the fair value of Plan assets

31/03/2025
£000s
Fair value of Plan assets at beginning of year
60,594
Interest income on Plan assets
2,907
Return on assets, excluding interest income
(5,020)
Contributions by employers
3,218
Contributions by Plan participants
0
Benefits paid and expenses
(5,788)
Business combinations
0
Settlements
0
Exchange rate
0
Fair value of Plan assets at end of year
55,911
The amounts recognised in profit or loss:
31/03/2025
£000s
Service cost - inc. current & past service costs, settlements
0
Service cost - administrative cost
604
Net interest on the net defined benefit liability
2,215
Total expense
2,819
Remeasurements of the net defined benefit liability (asset) to be shown in OCI:
31/03/2025
£000s
Actuarial (gains)/losses on the liabilities
(10,485)
Return on assets, excluding interest income
5,020
Changes in the effect of the asset ceiling excluding interest income
0
(5,465)
Total remeasurement of the net defined benefit liability / (asset) to be
shown in OCI		 31/03/2024
£000s
60,745
2,905
(2,598)
5,218
0
(5,676)
0
0
0
60,594
31/03/2024
£000s
1,375
693
2,345
4,413
31/03/2024
£000s
(5,729)
2,598
0
(3,131)

21 Related party transactions

There were no related party transactions during the year.

33

Wandsworth Citizens Advice Bureaux Limited

Notes to the financial statements For the year ended 31 March 2025

22 Comparative Statement of Financial activities (incorporating income and expenditure account)

Income
Donations
Charitable activities: advice and advocacy
Other trading activities
Investments
Total incoming resources
Expenditure
Raising funds
Charitable activities
Total expenditure
Net income
Actuarial gains / (losses) on defined benefit pension scheme
Tranfers between funds
Net movement in funds
Reconciliation of funds
Funds brought forward at 1 April 2023
Funds carried forward at 31 March 2024		 Restricted
£
-
1,434,117
-
-
1,434,117
-
(1,526,383)
(1,526,383)
(92,266)
-
126,675
34,409
-
34,409		 Unrestricted
£
6,757
672,143
5,537
13,606
698,043
-
(555,673)
(555,673)
142,370
(8,813)
(126,675)
6,882
561,165
568,047		 Total 2024
£
6,757
2,106,260
5,537
13,606
2,132,160
-
(2,082,056)
(2,082,056)
50,104
(8,813)
-
41,291
561,165
602,456

34

Wandsworth Citizens Advice Bureaux Limited

Notes to the financial statements For the year ended 31 March 2025

23 Comparative Statement of funds for the year ended 31 March 2024

Restricted funds
Macmillan Cancer Care
Big Lottery - HTC
Big Lottery - ILTA
Wandsworth Council - Cost Living HuB
Wandsworth Council - Support for Ukrainian
RCJ Advice Bureau
Aquila Family Charitable Trust
Trust for London
Citizens Advice
Wandle CCG
Battersea CCG
West Wandsworth CCG
City Bridge Trust
Major Trauma Advice
Foodbank - Wandsworth
Foodbank - Earlsfield
Foodbank - Henry Smith
Foodbank - Trussell Trust
London Legal Support Trust - Propel
Total restricted funds
Unrestricted funds
General unrestricted funds
Defined pension benefit scheme
Total unrestricted funds
Total funds		 At 1 April
2023
£
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
632,473
(71,308)
561,165
561,165		 Incoming
resources
£
196,934
149,143
16,667
177,003
60,166
86,911
15,000
50,000
53,625
88,250
36,233
36,860
47,700
34,753
65,293
14,083
58,075
40,346
207,075
1,434,117
698,042
-
698,042
2,132,159		 Outgoing
resources
£
(219,888)
(192,227)
-
(179,202)
(42,391)
(109,603)
(15,000)
(24,121)
(53,625)
(88,334)
(42,668)
(37,200)
(46,850)
(31,860)
(91,428)
(14,899)
(60,947)
(56,495)
(219,644)
.
(1,526,382)
(555,673)
-
(555,673)
(2,082,055)		 Transfers
£
22,954
5,492
-
2,199
-
22,692
-
-
-
84
6,435
340
(3,720)
(2,893)
26,135
816
17,422
16,149
12,569
126,674
(126,674)
-
(126,674)
-		 Gain (loss)
on
investments
£
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
0.00
(8,813)
(8,813)
(8,813)		 At 31 March
2024
£
-
(37,592)
16,667
-
17,775
-
-
25,879
-
-
-
-
(2,870)
-
-
-
14,550
-
-
34,409
648,168
(80,121)
568,047
602,456

The unrestricted funds represents the free funds of the Charity. The Trustee Board has agreed to a minimum level of £435,000 funding as reserves to guard against unforseen eventualities.

35