Company Number: 2967121
Citizens Advice Reading (Limited by Guarantee)
Report and Financial Statements
Year to 31 March 2024
Citizens Advice Reading (Limited by Guarantee)
Report of the Trustees for the year to 31 March 2024 (continued)
Reference and administrative details
Members of the Trustee Board
Chair Chair Vice Chair and Company Secretary
Chair Ms M French (resigned 5 May 2023) Chair Mr R.Harrison (appointed 6 Apr 23, resigned 6 Feb 2024) Vice Chair and Company Secretary Mr |. Curtis-Nye (from 6 Feb 2024 appointed Co-Chair, and from 3 May 2024 appointed Chair) Honorary Treasurer Mr A. Edger FCA Individual member MsJ. Benton Individual member Ms K. Bosley (resigned 17 May 2023) Individual member Ms J. Butler (appointed 6 February 2024) Individual member MsJ .Foss (resigned 24 May 2023) Individual member Virs N. Hamilton-Martin Individual member Mr H. Kretchmer (resigned 5 July 2023) Individual member Ms S. Lawal (resigned 31 May 2023) Individual member Ms O. Odubanjo (appointed 6 February 2024) Individual member Ms S. Vallins (resigned 20 April 2023) Individual member Mr D. Weekes (resigned 6 February 2024) Individual member Mr D. West (appointed 20 July 2023, resigned 3 May 2024, appointed Co-Chair 6 Feb 2024, resigned 3 May 2024)
Member nominated by: Reading Borough Council
Cllr. W.Griffith (resigned 10 June 2024)
Independent Examiner
Mr L. J. Baker FCA, Partner Wenn Townsend
Chartered Accountants and Registered Auditors 30 St. Giles, Oxford, OX1 3LE
Bankers
CAF Bank Ltd Hampshire Trust Bank, — Virgin Money UK PLC Cambridge & Counties 25 Kings Hill Ave, 55 Bishopsgate, London Jubilee House, Bank Kings Hill, EC2N 3AS Newcastle upon Tyne, Charnwood Court, West Malling NE3 4PL 5B New Walk, Leicester, ME19 4JQ LE1 6TE
Solicitors
Dexter Montague & Partners 105 Oxford Road Reading, Berkshire. RG1 7UD
Registered office
Minster Street Reading, Berkshire, RG1 2JB
Registered company number: 2967121 Registered charity number: 1042542
it
Citizens Advice Reading (Limited by Guarantee)
Report of the Trustees for the year to 31 March 2024 (continued)
The Trustee Board presents its report, together with the financial statements for the year ended 31 March 2024.
Structure, governance and management
Citizens Advice Reading was founded in 1939 and in 2024 is celebrating its 85" Anniversary. It isa company limited by guarantee and was first incorporated in September 1994. In accordance with its Memorandum of Association, every member of the company undertakes to contribute to its assets a sum not exceeding £1 in the event of winding up, while they are members, or within one year after they cease to be members. Citizens Advice Reading is also a registered charity.
Citizens Advice Reading has its own Trustee Board and is its own autonomous unit, but by satisfying certain conditions it is also a member of the National Association of Citizens Advice. The National Association is the policy making body of Citizens Advice nationally. It sets the standards that all local Citizens Advice offices must meet in order to qualify for membership and acts as a national voice for them on issues such as national social policy. An annual appraisal of Trustee Board performance is carried out.
The Trustee Board assesses at least annually both the current skills and experience of the Board, such as management, fundraising and business acumen, and also the Board’s effectiveness to identify any gaps. Prospective trustees are selected for their potential to make an effective contribution to the activities of Citizens Advice Reading through their skills, knowledge and experience. The Trustee Board recognises that diversity of membership is important and adds to its effectiveness and seeks to ensure that it is representative of the local community. New Trustee Board members complete a register of interests and receive an induction supported by an information pack and ongoing training enables them to fulfil their role.
The Trustee Board is responsible for every aspect of Citizens Advice Reading’s affairs and is ultimately accountable for the conduct of the organisation. The full Board meets a minimum of four times throughout the year to discharge these responsibilities, and is supported by 4 sub-committees (Finance; Funding, Partnerships and Communications; HR and Infrastructure; Quality, Development and Governance) compromising trustees and members of the Senior Management Team. Individual members of the Board are provided with enough and timely information to enable them to discharge their respective duties.
The Trustee Board retains responsibility for all key decisions, including approval of:
-
e The strategy and policies adopted by Citizens Advice Reading to achieve its charitable objects e The annual budget
-
® Major capital expenditure, including property acquisition and refurbishment e The annual financial statements
Responsibility for specific matters is allocated to named members as appropriate.
The Trustee Board is responsible for the organisation’s system of internal control and for reviewing its effectiveness. It must also ensure that the organisation’s system of internal control manages risk effectively. Such a system is designed to manage rather than eliminate the risk of failure to achieve the objectives and can only provide reasonable, and not absolute, assurance against material misstatement or loss.
The Trustee Board has assessed the major strategic, business and operational risks which it believes Citizens Advice Reading faces. The external risks to which the organisation is exposed are kept under constant review.
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Citizens Advice Reading (Limited by Guarantee)
Report of the Trustees for the year to 31 March 2024 (continued)
Internal risks are minimised by the implementation of procedures for the authorisation of all transactions and projects and to ensure the highest standards in the delivery of advice services and in all operational aspects of the organisation.
These procedures, including the adherence to the established financial controls, are reviewed annually as part of our overall risk management plan process, to ensure they still meet the needs of Citizens Advice Reading.
The Trustees consider the Board of Trustees and the Chief Executive as comprising the key management of the charity in charge of directing and controlling the charity and running the charity on a day-to-day basis. All Trustees give of their time freely and no Trustee remuneration was paid in the year. Details of Trustee expenses are disclosed in note 7 to the accounts.
Trustees are required to disclose all relevant interests and in accordance with the Trust’s policy withdraw from decisions where a conflict of interest arises. Trustees, in compliance with Charity Commissioners guidelines, are always expected to act in the best interest of the Charity.
The pay of the Chief Executive is reviewed annually as part of the paid staff salary review process.
Objectives and activities
Citizens Advice Reading (CAR) was established to provide advice and support, and 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 Reading and surrounding areas. In carrying out its objects and in all aspects of its work, the Charity is committed to promoting diversity, equity, equality and inclusion, to preventing prejudice and discrimination, to ensuring equal access and to promoting good relations between all sections of the community. The services provided are free, independent, confidential and impartial.
The trustees confirm they have given due consideration to the information contained in the Charity Commission’s published guidance on public benefit when reviewing the aims and objectives of Citizens Advice Reading and in planning activities and setting its policies and priorities.
Offering specialist advice in several fields, CAR helped over 5,000 people with benefits and debt advice to address complex situations; securing Debt Relief Orders and supporting clients with new Universal Credit claims and energy issues. In addition CAR has signposted people to other local partners according to the best service to meet their advice and information needs.
The organisation continued to offer a specialist benefits advice service, funded by Macmillan Cancer Support, for people living or receiving treatment for cancer in Berkshire. This service is principally based in the Royal Berkshire Hospital in Reading.
Citizens Advice Reading also, working in collaboration with the Royal Berkshire Healthcare Trust established and delivered an excellent support and advice service, for hospital staff, particularly those struggling with the impact of the cost of living crisis, which started in October 2023.
3
Citizens Advice Reading (Limited by Guarantee)
Report of the Trustees for the year to 31 March 2024 (continued)
An essential part, indeed, a twin aim of the organisation’s work was that of research and campaigns. Through advice work Citizens Advice Reading has the opportunity to gather an enormous amount of evidence about clients’ experiences, and'the impact of the way a wide range of services and legislation operate both locally and nationally. By collecting and collating such evidence it was possible to work positively with local authorities to simplify the Blue Badge application process for Macmillan clients and support the national campaigning around the impact of the cost of living crisis.
People and performance
At any one time the organisation typically operates with around 30 paid staff and 50 volunteers. Between April 2023 and March 2024, we had the following operational roles:
8 people full-time as a paid staff member.
20 people part-time as paid staff members.
32 people as volunteer advisers (level 1 and level 2) or trainee advisers
9 people as volunteer reception or administration workers
Between April 2023 and March 2024, 9 volunteers and 10 paid members of staff joined the organisation. During this period 9 trustees resigned, and 4 new trustees were appointed to the Board of Trustees, with 7 trustees on the Board on 31 March 2024.
The CAR service focuses upon providing an assessment of a client’s goals and providing information and advice to resolve or progress their issue in one call. If a client needs more help or their circumstances are complex, this is followed with bespoke support. Initial help has been achieved via telephone, drop-in or online. Follow up work has been offered to best meet the needs ofthe client, including face to face and telephone appointments, as well as email and web chat support.
The impact of significant funding changes in December 2022 continued with the restructured, project-only services offered, to ensure the maintenance of financial viability. Overall client numbers still increased, mainly due to the continuation and expansion of a limited drop-in session each week and a new outreach service which started in October 2023.
Citizens Advice Reading is subject to an ongoing performance and quality regime by its national organisation (National Citizens Advice — NCA). This entails quarterly audits on quality of advice and financial performance and annual assessment of 9 leadership areas: governance; risk management; financial management; people management; operational performance management; partnership working; research, campaigns and equality. An independent audit is undertaken by NCA annually and in September 2023 Citizens Advice Reading was again rated as excellent.
During the year Citizens Advice Reading responded to 35,006 advice request issues which resulted in 23,920 contacts for 5,114 unique clients. Of the clients seen 56% were female and 43% male. Our services continued to be used extensively by all nationalities, ethnic groups and people with disabilities or health problems. In terms of ethnicity 11% of clients were Asian, 13% were Black and 69% were White, including people from 76 different nationalities. 60% of clients described themselves as disabled or living with a longterm health problem, up from 54% in 2022/23.
The number of people under 25 accessing our services slightly increased to 4.6% (from 4% during 22/23), perhaps due to the changes in service availability and delivery. The breakdown of main enquiry issues was benefits, including Universal Credit (60%), Debt (10% - a 100% increase on 2022/23) Utilities & Communications (9%) Financial Services and Capability (5%) and Housing (3%).
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Citizens Advice Reading (Limited by Guarantee)
Report of the Trustees for the year to 31 March 2024 (continued)
Citizens Advice Reading achieved estimated financial gains for our clients totalling £7,468,678 in benefit entitlements, employment related awards, charity awards and compensation. We also had £63,081 in debts rearranged or written off and £378,409 in other financial gains for clients.
Financial review
a) Financial Performance in the 12 months to 31° March 2024 (2024)
Citizens Advice Reading once again maintained a stable financial position in 2024.
Total income increased to £859,000, an increase of £89,000 compared to 2023. The increase is principally due to two new projects, the Energy Redress Project securing £46,000 funding, and the NCA Outreach/Cost of Living Project securing £54,000.
Total expenditure increased to £860,000, an increase of £96,000 compared to 2023. As with increased income in 2024, the increased costs have been caused primarily by an increase in staff costs which increased by £100,000 in 2024
Thethe balancingcharity achieved£3,000 atonetan deficitunrestrictedof £1,000surplus.for the year, of which £4,000 , related to a restricted deficit, and
As a result, the unrestricted funds available at the end of March 2024 increased £3,000 to £230,000 compared to prior year, whilst the restricted reserves decreased to £26,000 at the end of the year.
The cash balance reduced at the end of March 2024 to £327,000, mainly as a result of the decreased funding payments received in advance, as outlined in Note 14 to the Financial Statements.
b) Reserves Policy
Each year the Trustee Board reviews its reserves policy and considers the appropriate level of reserves for the charity to hold, in the light of the risks that it faces and the economic environment in which it is operating. The Board’s key priority remains to ensure the continuity of the charity's operations to meet the needs of the community.
Based on this year’s review the Trustee Board’s reserve policy is to hold funds which have not been designated for a specific use (“free reserves”) at the equivalent of between 3- and 6-months’ anticipated cash expenditure. The Board considers that this level of free reserves will ensure that in the event of a major shortfall of funding enough time will be available to consider and implement mitigating steps, allowing Citizens Advice Reading to continue its charitable activities, or to organize an orderly wind up of the charity.
As at the 31% March 2024 the free reserves (unrestricted funds) totalled £230,000 and lay within the target range of 3 to 6 months’ anticipated cash expenditure.
c) Investment Policy
As of 31 March 2024, the policy of the Trustee Board is to hold sufficient of its cash assets in Bank Accounts providing immediate access to funds, whilst agreeing to hold a portion of the funds in Deposit Accounts. This approach is subject to periodic review.
5
Citizens Advice Reading (Limited by Guarantee)
Report of the Trustees for the year to 31 March 2024 (continued)
Further, the policy of the Trustee Board is to limit deposits with any Bank to no more than the amount provided for under the Financial Services Compensation Scheme (FSCS), currently £85,000, allowing for short term balances above £85,000 in its main operating bank account.
Citizens Advice Reading was entitled to exemption from taxation on its income and capital gains to the extent that its funds were used for charitable purposes.
d) Going Concern
The financial position and performance have been summarised in the Financial Review.
The Trustees have reviewed CAR’s financial position and concluded that it is well-placed to meet all its obligations as they fall due for at least the twelve months up to September 2025. This position is supported by a strong cash balance, adequate reserves, a proven ability to both secure new services, and to carry out necessary cost restructuring at short notice if required.
As a result, we have adopted the going concern basis of preparation of our financial statements and conclude there is a reasonable expectation that we have enough resources to continue in operational existence for at least 12 months from the date of approval of these Financial Statements.
Plans for future periods
An annual review of our business plan identified several priorities, detailed below and in priority of delivery. These are based on the identified need and resource capacity to deliver and will inform CAR annual action plans.
1 - Service delivery - Increase service capacity (via both increasing the general service to 5 days a week and other delivery methods}
2 - Resources (Finance and Funding) - Maintain sound financial management, embrace relevant and financially viable partnering & collaboration activities and increase unrestricted income generation capacity.
3 - Resources (Infrastructure) - Ensure that: IT/telephony is secure and fit for purpose, that effective processes and support mechanisms for service delivery are in place and we are making best use of available resources and contributing to net zero agenda.
4 - Resources (People) - Champion Equity, Diversity & Inclusion, ensure CAR remains an attractive employer to work for to retain and attract high quality job applicants, actively increase diversity within our teams and support the professional development & wellbeing of our people.
5 - Fundraising, Partnerships and Communications - Maintain a strong reputation with key stakeholders through establishment of a wider range of strong and effective partnerships, and acting as a trusted voice for community-based service provision.
6
24/09/2024
24/09[/]
Citizens Advice Reading (Limited by Guarantee)
Statement of Financial Activities Year to 31 March 2024 (including income and expenditure account)
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||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
|Note|Unrestricted|Restricted|Total|Funds|||Unrestricted|Restricted|Total|Funds|
|Funds|Funds|2024|Funds|Funds|2023|
|£|E|£|£|£|£|
|INCOME|FROM|
|Donations|and|legacies|2|102,831|=|102,831|103,890|ca|103,890|
|Investments|3|9,984|-|9,984|2,611|-|2,611|
|Charitable|Activities|4|132,450|613,455|745,905|96,462|567,152|663,614|
|Other|Income|=|a|-|-|-|=|
|TOTAL INCOME|245,265|613,455|858,720|202,963|567,152|770,115|
|EXPENDITURE|ON|
|Raising|Funds|5|34,033|=|34,033|24,061|-|24,061|
|Charitable|Activities:|6|
|Staff Costs|7|140,321|478,717|619,038|87,619|431,610|519,229|
|Premises|Costs|26,715|76,668|103,383|34,615|75,933|110,548|
|Support|costs|8|7,859|22,084|29,943|15,998|47,731|63,729|
|Payments|to Third|Parties|9|5,000|68,524|73,524|-|46,342|46,342|
|TOTAL|EXPENDITURE|213,928|645,993|859,921|162,293|601,616|763,909|
|NET INCOME/(EXPENDITURE)|10|31,337|(|32,538)|(1,201)|40,670|(|34,464)|6,206|
|TRANSFERS BETWEEN|FUNDS|11|(|28,255)|28,255|-|(|27,530)|27,530|-|
|NET MOVEMENT IN|FUNDS|3,081|(|4,282)|(1,201)|13,140|(|6,934)|6,206|
|RECONCILIATION|OF|FUNDS:|
|TOTAL FUNDS BROUGHT FORWARD|226,514|30,545|257,059|213,374|37,479|250,853|
|TOTAL FUNDS CARRIED FORWARD|229,595|26,263|255,858|226,514|30,545|257,059|
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All of the above results for the years ended 31 March 2024 and 31 March 2023 are derived from continuing activities.
The notes on pages 12 to 18 form part of these financial statements.
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24/09/2024
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Citizens Advice Reading (Limited by Guarantee)
Statement of Cash Flows for the year ended 31 March 2024
Reconciliation of increase in funds to net cash flow from operating activities
| 2024 | 2023 | |
|---|---|---|
| £ | £ | |
| Increase (Decrease) in funds | 13,799 | 6,206 |
| Depreciation charge | - | - |
| Decrease/(increase ) in debtors | ( 25,224) | 18,909 |
| (Decrease)/ Increase in creditors | ( 137,897) | 63,462 |
| Interest received | ( 9,984) | ( 2,611) |
| Net cash flow from operating activities | ( 159,306) | 85,966 |
| Cash flow statement | ||
| Net cash flow from operating activities | ( 159,306) | 85,966 |
| Investing activities | ||
| Interest received | 9,984 | 2,611 |
| Fixed assets addition | - | - |
| Increase /(Decrease) in cash | (149,322) | 88,577 |
| Movement in cash | ( 149,322) | 88,577 |
| Net cash i April | 476,755 | 388,178 |
| Netcashat31March | 32/433 | 476,755 |
The notes on pages 12 to 18 form part of these financial statements.
41
Citizens Advice Reading (Limited by Guarantee)
Notes to the Financial Statements Year to 31 March 2024
1. Accounting policies
The following accounting policies have been used in dealing with items which are considered material in relation to the Bureau's financial statements.
Basis of accounting
These accounts have been prepared on an accruals basis and include income and expenditure as they are earned or incurred, rather than as cash is paid and received. The accounts 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) effective ist October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011.”
The Charity constitutes a public benefit entity as defined by FRS 102.
The accounts include all transaction, assets and liabilities for which the Charity is responsible for.
The trustees consider that there are no material uncertainties about the charity's ability to continue as a going
concern.
Income
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i) Recognition of Incoming Resources These are included in the statement of financial activities when: - the charity becomes entitled to the resources; - the trustees are virtually certain that they will receive the resources; and 2 the monetary value can be measured with reasonable accuracy.
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ii) Grants and donations Grants are only included in the statement of financial activities when the charity has unconditional entitlement to the resources.
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iif) Gifts in kind Gifts in kind are accounted for when receivable, at a reasonable estimate of their value to the charity.
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iv) Investment income Bank and building society interest is included in the statement of financial activities when receivable except for the interest from our Flagstone Portal which is accrued.
c) Expenditure and liabilities
Liabilities are recognised as soon as there is a legal or constructive obligation committing the charity to pay out resources.
d) Fixed assets
Tangible fixed assets for use by the charity are capitalised if they can be used by the charity for more than one year and cost at least £1,000. They are valued at cost or, if gifted, at the value to the charity on receipt. Assets costing less than £1,000 are written off in the year of acquisition.
Fixtures, fittings and equipment (none of which individually cost more than £1,000) have been purchased during the year in the total amounting to £3,475 (2023 £8,339)
e) Depreciation
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives IT Equipment 3 years straight line Other furniture and equipment 5 years straight line
f) Fund accounting
- Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. Expenditure which meets these criteria is allocated to the fund, together with a fair allocation of support costs.
g) Debtors and Creditors
- Debtors and creditors receivable or payable within one year are recognised at transaction price. Any losses arising from impairment are recognised in expenditure.
12
Citizens Advice Reading (Limited by Guarantee)
Notes to the Financial Statements Year to 31 March 2024
||Unrestricted
Funds|Unrestricted
Funds|Restricted
Funds|2024Total
Funds||
||Unrestricted
Funds|—Restricted
Funds|2023Total
Funds|
|---|---|---|---|---|---|---|---|---|
||£||£|£||£|£|E|
|2 INCOME FROM DONATIONS AND LEGACIES|||||||||
|Benefit in Kind|55,000||-|55,000||55,000|-|55,000|
|Reading B. Council, provision of Premises occupied|||||||||
|by Reading Citizens Advice on a Rent Free Basis (see|also Note|18)|||||||
|Corporate|||||||||
|London Legal|3,698||-|3,698||3,113|5|3,113|
|TDK Epcos (UK) Ltd.|500||-|500||500|-|500|
|Vodafone|2,072||-|2,072||1,390|-|1,390|
|Parish Councils|||||||||
|Earley||2|=|=||750|=|750|
|Holybrook||=|-|~||-|-|-|
|Shinfield||~|-|-||-|-|-|
|Trust Funds and Other Organisations|||||||||
|J Davy Foundation|34,033||-|34,033||29,000|-|29,000|
|St. Michael's Church Congregation||=|=|-||1,015|~|1,015|
|Reading Lions||-|-|‘=||-|-|-|
|Berkshire Community Fund||-|-|-||-|-|-|
|St Peter's Church Congregation||-|-|-||-|-|“|
|Other Donations|||||||||
|Restricted||c|-|-||-|~|-|
|Unrestricted|7,528||7|7,528||13,122|=|13,122|
|Gift Aid Recoveries from HMRC||=|-|-||-|-|-|
||102,831||“|102,831||103,890|-|103,890|
|3 INVESTMENTINCOME|||||||||
|Interest on Bank Deposits|9,984||rm|9,984||2,611|-|2,611|
|4 INCOME FORCHARITABLE ACTIVITIES|||||||||
|Reading Borough Council Maximising Income||=|-|-||58,916|-|58,916|
|Reading Borough Council Debt Services|96,292||-|96,292||-|40,122|40,122|
|Reading Borough Council Ukrainian Advice||“||=||=|77,124|77,124|
|Big Lottery / Red Cross Immigration Advice||=|-|=||-|=|-|
|Catalyst Housing||=|=|=||=|-|-|
|Energy / Financial Capability||-|133,614|133,614||26,030|60,307|86,337|
|Energy Savings Trust||=|45,657|45,657||-|-|-|
|EU Energy (STEP)||-|“|~||-|10,575|10,575|
|Macmillan||-|123,298|123,298||-|108,685|108,685|
|Thames WaterTrust Fund||=|a|#||ss|35,000|35,000|
|Henry Smith Charity||«|59,417|59,417||=|59,000|59,000|
|Peace of Mind Matters - see Note 15 for Funders||-|-|=||-|-|~|
|Help to Claim||=|167,229|167,229||-|159,383|159,383|
|NCA Outreach / CoL Project||~|54,375|54,375||-|-|-|
|Equipment Upgrade - see Note 15 for Funders||-|~|~||-|-|-|
|SNAP 2 / red cross||c|29,865|29,865||-|16,956|16,956|
|Others|36,158|||36,158||11,516|-|11,516|
|TOTAL|132,450||613,455|745,905||96,462|567,152|663,614|
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°
Citizens Advice Reading (Limited by Guarantee)
Notes to the Financial Statements Year to 31 March 2024
| Unrestricted | — Restricted | 2024 | Unrestricted | Restricted | 2023 | ||||
|---|---|---|---|---|---|---|---|---|---|
| Funds | Funds | Funds | Funds | Funds | Funds | ||||
| £ | £ | £ | £ | £ | £ | ||||
| 5 COSTS OF RAISING FUNDS | |||||||||
| COSTS OF RAISING VOLUNTARY INCOME | |||||||||
| Direct and Overhead Expenses | 7123 | > | 7,723 | 6,079 | z | 6,079 | |||
| StaffCosts | 26,310 | - | 26,310 | 17,982 | - | ||||
| TOTAL StaffCosts are for two part-time staff members |
34,033 - funded by J Davy foundation. |
34,033 | 24,061 | - | ‘ | ||||
| 6 ANALYSIS OF EXPENDITURE ON CHARITABLE ACTIVITIES | |||||||||
| Yearto 31 March 2024 | Reading BC | SNAP2 /Red | |||||||
| Narrowing | Macmillan | Henry Smith | RBC Debt | Cross | Help to Claim | ||||
| The Gap | Immigration | ||||||||
| Staff cost | - | 102,725 | 46,001 | 108,192 | 33,107 | 152,325 | |||
| Premises cost | - | 16,997 | 16,775 | 22,649 | 3,236 | 15,998 | |||
| Support cost | - | 4,792 | 1,150 | 5,073 | 2,032 | 4,503 | |||
| Payments to Third Parties | - | - | “ | - | - | - | |||
| Sub-Total | - | 124,514 | 63,926 | 135,914 | 38,375 | 172,826 | |||
| Rees | mee, | NCAOutreach | RBCRUAC | Others | Total | ||||
| Staff cost | 47,807 | 50,352 | 46,400 | = | 32,129 | 619,038 | |||
| Premises cost | 13,572 | 5,980 | 4,110 | ~ | 4,066 | 103,383 | |||
| Support cost | 3,711 | 3,234 | 2,662 | - | 2,786 | 29,943 | |||
| Payments to Third Parties | 68,524 | > | * | “ | 5,000 | 73,524 | |||
| Sub-Total | 133,614 | 59,566 | 53,172 | - | 43,981 | 825,888 | |||
| Year to 31 March 2023 | ReadingBC Narrowing The Gap |
Macmillan | Henry Smith | RBC Debt | SNAP2/Red Cross Immigratiop |
Helpto ‘ isin |
|||
| Staff cost | 71,122 | 72,987 | 44,547 | 48,679 | 11,267 | 135,099 | |||
| Premises cost | 31,345 | 15,679 | 9,685 | 20,719 | 3,877 | 15,924 | |||
| Support cost | 13,808 | 6,573 | 4,257 | 9,529 | 712 | 8,566 | |||
| Payments to Third Parties | - | - | - | - | - | - | |||
| Sub-Total | 116,274 | 95,239 | 58,489 | 78,926 | 15,856 | 159,589 | |||
| RBCWinter Grant |
Thames Water |
EU STEP | RBCRUAC | Others | Total | ||||
| Staff cost | 13,760 | 34,047 | - | 71,224 | 16,497 | 519,229 | |||
| Premises cost | 1,971 | 3,053 | = | 5,025 | 3,270 | 110,548 | |||
| Support cost | 635 | 1,059 | 13,442 | 2,958 | 2,190 | 63,729 | |||
| Payments to Third Parties | 46,342 | = | zi | = | 2 | 46,342 | |||
| Sub-Total | 62,708 | 38,159 | 13,442 | 79,208 | 21,957 | 739,848 | |||
| 7 STAFFANDVOLUNTEERCOSTS | Unrestricted | Restricted | 2024 Total | Unrestricted | Restricted | 2023 Total | |||
| Funds | Funds | Funds | Funds | Funds | Funds | ||||
| £ | £ | £ | £ | £ | £ | ||||
| Wages and Salaries | 124,595 | 425,065 | 549,660 | 77,077 | 379,681 | 456,758 | |||
| Social Security Costs | 9,053 | 30,883 | 39,936 | 5,553 | 27,352 | 32,905 | |||
| Other Pension Costs (Note 16) | 5,178 | 17,664 | 22,842 | 2,888 | 14,224 | 17,112 | |||
| Other Staffing Costs | |||||||||
| Paid Staff (expenses, recruitment, training) | 1,138 | 3,884 | 5,022 | 1,720 | 8,475 | 10,195 | |||
| Volunteers (expenses) | 358 | 1,220 | 1,578 | 381 | 1,878 | 2,259 | |||
| Redundancy Payments | = | - | = | - | ~ | - | |||
| TOTAL | 140,322 | 478,716 | 619,038 | 87,619 | 431,610 | 519,229 |
As at 31° March 2024 the number of staff employed was 28 (= 21.5 Full Time Equivalent). The corresponding numbers as at 31st March 2023 were 22 (= 15.6 Full Time Equivalent). No employee earned more than £60,000 in the current or preceding year. The pay of the Key Manager during the year totalled £44,387 (2023: £39,865) No trustee received a salary during the year (2023: Nil) No Trustee received any expenses of in the year ending 31st March 2024 (31st March 2023: Nil)
14
Citizens Advice Reading (Limited by Guarantee)
Notes to the Financial Statements Year to 31 March 2024
8 SUPPORT COSTS
The charity allocates its support costs as shown in the table below. Both Independent Examination and AGM Expenses are treated as Governance costs; all Consulting costs are allocated directly to the relevant Project; whilst General Office and Payroll costs are charged on a basis consistent with the use of resources.
The method of support cost allocation in the current year is unchanged from that used in the prior year.
| General | Governance 2024 Total |
Governance 2024 Total |
General | Governance | 2023 Total | ||
|---|---|---|---|---|---|---|---|
| support | support | ||||||
| £ | £ | £ | £ | £ | |||
| Independent Examination - |
990 | 990 | - | 870 | 870 | ||
| AGM Expenses - |
108 | 108 | = | 210 | 210 | ||
| General office 20,184 |
13 | 20,197 | 56,690 | 13 | 56,703 | ||
| Payroll cost 1,286 |
- | 1,286 | 1,152 | - | 1,152 | ||
| Consulting 7,362 |
2 | 7,362 | 4,794 | = | 4,794 | ||
| Depreciation - |
- | - | - | - | - | ||
| 28,832 | 1441 | 29,943 | 62,636 | 1,093 | 63,729 | ||
| Support costs includes £22,084 (2023: £47,731) of | restricted expenditure | ||||||
| 9 PAYMENTSTO THIRD PARTIES | |||||||
| The Energy Voucher Scheme Contract includes £68,524 which | represents | the | total cost | of Energy Vouchers | and Energy | ||
| Efficency items distributed to those local clients identified as being eligible | to | receive them. | |||||
| 10 NET INCOMING/(OUTGOING) RESOURCES FORTHEYEAR | 2024 | 2023 | |||||
| This is stated after charging: | € | £ | |||||
| Depreciation | - | ~ | |||||
| Independentexamination | 990 | 870 |
Support costs includes £22,084 (2023: £47,731) of restricted expenditure
9 PAYMENTS TO THIRD PARTIES
11 FUND TRANSFER
Transfers to (and from) restricted funds are made at the discretion of the Trustees.
Transfers from unrestricted funds of £28,255 were made resulting in a net transfer of £28,255 to restricted funds (please see note 15).
----- Start of picture text -----
12 TANGIBLE FIXED ASSETS 2024 2023
Cost £ £
Cost at 1 April 2023 # 5
Additions - -
At 31 March 2024 - ~
Depreciation
At 1 April 2023 zs ;
Charge for the year “= =
At 31 March 2024 = ~
Net Book Value
At 31 March 2023 - =
At 31 March 2024 ee —_
2024 2023
13 DEBTORS £ £
Funding Payments outstanding 43,941 16,796
Prepayments 4,692 4,454
Other debtors 4,320 6,480
52,953 27,730
14 CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Taxation and social security 10,803 8,045
Employment Tribunal hearing 15,000 -
Other creditors 6,293 11,582
Accruals 1,213 1,093
Funding payments received in advance 91,220 226,706
124,529 247,426 15
----- End of picture text -----
Citizens Advice Reading (Limited by Guarantee)
Notes to the Financial Statements Year to 31 March 2024
| 15 MOVEMENT IN FUNDS | |||||||||
|---|---|---|---|---|---|---|---|---|---|
| Year to 31 March 2024 | As at | 3ist | Incoming | Outgoing | Transfers | As at | 3ist | ||
| March | 2023 | Resources | Resources | 2023/24 | March | 2024 | |||
| RESTRICTED FUNDS | £ | £ | £ | £ | £ | ||||
| Energy Redress | 7 | 45,657 | 59,566 | 13,909 | « | ||||
| Help to Claim | 2 | 167,229 | 172,826 | 5,597 | - | ||||
| Henry Smith Charity | 3,169 | 59,417 | 63,925 | 1,339 | (0) | ||||
| Macmillan | 13,446 | 123,298 | 124,514 | = | 3 | 12,230 | |||
| NCA Outreach / CoL | = | 54,375 | 53,172 | - | 1,203 | ||||
| RBC Utilities /Winter Grant | 12,830 | 133,614 | 133,614 | = | 12,830 | ||||
| Red Cross - Immigration SNAP | 1,100 | 29,865 | 38,375 | 7,410 | 0 | ||||
| TOTAL RESTRICTED FUNDS | 30,545 | 613,455 | 645,992 | 28,255 | 26,263 | ||||
| UNRESTRICTED FUNDS | |||||||||
| EmploymentTribunal Provision | 15,000 | ( | 15,000) | ||||||
| General Fund | 226,514 | 245,265 | 198,929 | ( | 28,255) | 244,595 | |||
| TOTAL UNRESTRICTED FUNDS | 226,514 | 245,265 | 213,929 | ( | 28,255) | 229,595 | |||
| TOTALFUNDS | 257,059 | 858,720 | 859,921 | = | 255,858 |
CURRENT RESTRICTED FUND PROJECTS
Energy Redress: funded by the Energy Trust this project delivers energy advice and support to vulnerable consumers with energy issues. Contract terminates August 2025.
Help to Claim Project: funded via resources provided by the Government and administered centrally by National Citizens Advice; the Help to Claim service offers support with making a new claim for Universal Credit. This replaces support previously provided by local authorities. Contract terminates no earlier than March 2025.
Henry Smith Project: funded by the Henry Smith Charity, this direct replacement for the previous Lloyds Housing project, helping individuals facing severe housing issues terminated in June 2021, A new project funded by Henry Smith which provides funding for a Benefit Caseworker and Supervisor has commenced providing additional benefit advice. Contract terminates September 2024.
Macmillan: funded by Macmillan Cancer Support this service provides advice on benefit entitlements for cancer sufferers and their families. Extended Contract terminates December 2025.
NCA Outreach / CoL: funded by National Citzens Advice these services provides advice add outreach locations within Reading, whilst the CoL grant is funding a 0.5 FTE admin person. Contract terminates September 2024.
RBC Debt: Funded by National Citzens Advice these services provides advice on benefit entitlements for cancer sufferers and their families. Contract terminates October 2025.
RBC Utilities /Winter Grant - with money provided from RBC this Fuel Voucher Scheme provides targeted help for people suffering extreme hardship providing access to fuel vouchers and energy saving measures. It is expected to run until the funding is fully spent in Autumn 2024. Red Cross - Immigration SNAP: Funded by the Big Lottery, this was a partnership between the British Red Cross and Citizens Advice Reading for improving the lives of refugees and others in the Thames Valley area - Contract terminated December 2023.
16
Citizens Advice Reading (Limited by Guarantee)
Notes to the Financial Statements Year to 31 March 2024
| Year to 31 March 2023 | As at | 31st | Incoming | Outgoing | Transfers | As at | 3ist |
|---|---|---|---|---|---|---|---|
| March | 2022 | Resources | Resources | 2022/23 | March | 2023 | |
| RESTRICTED FUNDS | £ | £ | £ | £ | £ | ||
| Equipment Upgrade | 8,679 | - | te | ( 8,679) | - | ||
| EU Energy (STEP) | - | 10,575 | 13,442 | 2,867 | - | ||
| Help to Claim | 111 | 159,383 | 159,589 | 95 | - | ||
| Henry Smith Charity | 2,658 | 59,000 | 58,489 | - | 3,169 | ||
| Macmillan Nationa! Lottery Community Fund |
- 10,800 |
108,685 - |
95,239 - |
= ( 10,800) |
13,446 - |
||
| RBC Debt Advice | - | 40,122 | 78,926 | 38,804 | - | ||
| RBCRUAC | - | 77,124 | 79,207 | 2,083 | - | ||
| RBCWinter Grant | 15,231 | 60,307 | 62,708 | - | 12,830 | ||
| Red Cross - Immigration SNAP | - | 16,956 | 15,856 | = | 1,100 | ||
| Thames Water Trust Fund | - | 35,000 | 38,159 | 3,159 | ; | - | |
| TOTAL RESTRICTED FUNDS | 37,479 | 567,152 | 601,616 | 27,530 | 30,545 | ||
| UNRESTRICTED FUNDS | |||||||
| General Fund | 213,374 | 202,963 | 162,293 | 254,043 | |||
| TOTAL UNRESTRICTED FUNDS | 213,374 | 202,963 | 162,293 | 27,530) | —226,514 | ||
| TOTAL FUNDS | 250,853 | 770,115 | 763,909 | - | 257,059 | ||
| Year to 31 March 2024 | Tangible | Net Current | Total | ||||
| Fixed Assets | Assets | ||||||
| £ | £ | £ | |||||
| Restricted Income Funds | |||||||
| MacMillan | a | 12,230 | 12,230 | ||||
| NCA Outreach project | = | 1,203 | 1,203 | ||||
| RBC Utilities Grant | - | 12,830 | 12,830 | ||||
| Unrestricted Funds | |||||||
| General Fund | - | 229,594 | 229,594 | ||||
| Totals | - | 255,857 | 255,857 |
17
Citizens Advice Reading (Limited by Guarantee)
Notes to the Financial Statements Year to 31 March 2024
16 PENSION FUND
The company operates a defined contribution scheme for the benefit of paid employees. The assets of the scheme are administered in a fund independent from those of the company.
The pension cost charge for the year payable by the company was £22,841 (2022/23: £17,112)
17 OPERATING LEASE COMMITMENTS
| At the year end the charity had annual commitments under non-cancellable | |||||
|---|---|---|---|---|---|
| Operating lease agreements as follows:- | Total | Total | |||
| 2024 | 2023 | ||||
| Operating leases which expire | £ | £ | |||
| Within one year | “ | = | |||
| Withintwotofiveyears | 4,502 | 5,853 |
18 BENEFIT IN KIND
The premises used by Reading Citizens Advice Bureau (with an revised assessed Rental Value of £55,000 p.a.) are, and have been, provided to the Charity as a “Benefit in Kind” by Reading Borough Council and is shown as "Voluntary Income" within the SOFA.
In turn this total cost is re-apportioned to each of our various Projects — using an allocation formula based upon a corresponding estimate of relevant floor usage during the Financial Year. The total Premises cost shown within the SOFA (2023/24: £ 111,298) incorporates this £55,000 cost.
19 RELATED PARTY TRANSACTIONS
There were no related party transactions during 2023/24; nor were there any in the previous year.
20 TRUSTEE DONATIONS
Trustees have made small Donations to the Charity in both 2023/24 and the previous year. These donations are already included within the "Other Donations - Unrestricted" figures totalling £7,528 (2022/23 £13,122) detailed in Note 2.
Of these, identifiable donations from Trustees in 2023/24 amounted to £190 (2022/23: £480)
18